Barrington Town Moderator Julia Califano was moving quickly through the municipal budget line items during Wednesday night's financial town meeting, until she reached "debt service."
That's when …
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Barrington Town Moderator Julia Califano was moving quickly through the municipal budget line items during Wednesday night's financial town meeting, until she reached "debt service."
That's when resident Peter Clifford approached the microphone and asked why the interest from the middle school bond money — the bond totals $68.4 million — was not being used to off-set debt service payments. Mr. Clifford said the $40 million or so that was not being used immediately for the project could yield a handsome return, and therefore lessen the tax burden for residents.
Barrington Finance Director Kathy Raposa tried to explain that the money was actually being held by RIBEC — Rhode Island Health and Education Building Corporation. Ms. Raposa said that Barrington would only receive the 35 percent reimbursement for the middle school project if RIBEC held the money.
Mr. Clifford, apparently unhappy with the response, said "We got a rotten deal."
Former town council member Ann Strong joined the discussion and questioned Ms. Raposa and Barrington Town Manager Jim Cunha further on the issue. Mr. Cunha told Ms. Strong that RIBEC would be using interest to off-set payments later in the debt payment schedule.
Ms. Strong then turned her attention to local school officials and asked why they had not "divulged" the RIBEC information during the earlier phases of the project planning.
She added: "You all should be ashamed of yourselves on the school side."
Mr. Clifford later asked about making a motion to lessen the debt service payments, as taxpayers are allowed to file amendments from the floor of the meeting as long as they are for $50,000 or 20 percent of the total budget item, depending on which is a lesser amount.
Mr. Clifford had apparently thought the motion could be for 20 percent of the total line item, and when town solicitor Michael Ursillo clarified the issue, Mr. Clifford responded: "Lesser? Oh, never mind."
— By Josh Bickford