NEW: Lawmaker Praises Central Falls Funding
Friday, June 08, 2012
Rep. Agostinho F. Silva (D-Dist. 56, Central Falls) expressed his thanks to his colleagues in the House of Representatives early Friday morning when they passed Article 22, which allocates $2.6 million to Central Falls retirees whose pensions were cut in the city’s effort to achieve solvency.
“A lot of hours went into crafting this settlement and reaching a compromise that everyone could agree on,” Representative Silva said. “There have been countless meetings with the governor’s office, the receiver and my constituents. But I can finally say that we are in a place where we are poised to move past our struggle with receivership. Central Falls is entering a new transition, and this funding is a part of it. If the Senate approves this budget, the $2.6 million in funding is going to quicken that transition, enabling the people of Central Falls to put this all behind them much faster.”
The $2.6 million would be part of a five-year transition payment plan to municipal retirees, whose pensions were cut in the state receiver’s efforts to help the city obtain financial security and stability.
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