Infrastructure Bank CEO Reminds Cities and Towns to Seek Borrowing Authority

Jeffrey Diehl, Executive Director and CEO of Rhode Island Infrastructure Bank, recently sent a letter to municipal executives reminding them that access to the Infrastructure Bank’s lending programs requires approved borrowing authority. For many communities, the elections that will be held this November are the ideal time to seek General Obligation bonding authority from voters. By planning ahead, communities can ensure that they can access the Infrastructure Bank’s financing programs over the next two years.

“We want to ensure that all 39 cities and towns have access to our unique resources,” said Diehl. “Receiving authorization to borrow is an essential component of ensuring that borrowers receive the lowest cost of financing possible.”