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EAST GREENWICH - The townâ€™s $52 million school bond, approved by voters in 2008, turned out to be a bargain.
The Town Council wrapped up much of the bondâ€™s financial business last night by formally approving a final school building improvement project budget in the amount of $48,787,600, well below the bonding authority granted by resident.
Town Manager William Sequino Jr. estimated that the town saved $2.6 million in interest and bond issuance costs, with School Building Systems, supervisor of the school project, realizing a $613,000 surplus.
For more on this story, check out the Jan. 12 edition of the East Greenwich Pendulum.