NEW: Raimondo to Discuss Distressed Municipalities

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Friday, March 15, 2013

GoLocalProv News Team

General Treasurer Gina M. Raimondo will address over 200 investment and government professionals at the Second Annual Symposium on Distressed Municipalities (http://www.bondbuyer.com/conferences/distressed/) on Monday, March 18 at The Omni Providence Hotel (http://www.omnihotels.com/FindAHotel/Providence.aspx). The conference will help participants diagnose sources of financial distress, identify proven turnaround strategies, and gain practical, peer-to-peer advice to implement those plans.

"As government professionals aim to do more with less, it is valuable to share ideas, especially when it comes to improving transparency and finding innovative solutions," said Raimondo. "The Bond Buyer chose Rhode Island for this symposium because of our leadership in fixing our fiscal fundamentals. It is an honor to present our work and share our commitment to investing in the future with our colleagues from Rhode Island and around the country, and the investor community."

The conference is sponsored by The Bond Buyer, a daily news source that reports on the $3.5 trillion municipal bond industry. "Treasurer Raimondo is a leader who helped Rhode Island strike a fair balance among many competing interests, because she recognized that all stakeholders–public employees and retirees, taxpayers and investors–do best when the economy is growing," said Michael Stanton, publisher of The Bond Buyer. "Our goal with this conference is to spread the word on success stories such as Rhode Island, so other communities can learn from those experiences."

Rhode Islanders are beginning to experience the benefits of pension reform. Last October, the $81 million bond offering generated $200 million worth of demand. This demand lowered the cost to taxpayers on vital projects such as road and school construction.

Raimondo recently partnered with the Rhode Island Government Finance Officers Association (http://www.ri.gov/press/view/18831), as part of Treasury's ongoing effort to share best practices regarding financial disclosure and to raise awareness about pooling financial resources to generate savings.

Raimondo's address at The Bond Buyer's Second Annual Symposium on Distressed Municipalities will take place at 8:30-9:45am at The Omni Providence Hotel, One West Exchange Street, Providence.

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