Sen. Raptakis / Rep. Serpa’s bill Now a Law: The Law caps interest rates charged by Coventry Sewer

Coventry, RI Sewer Bill Becomes Law

"STATE HOUSE – Legislation (2019-S 0201A / 2019-H 5798A) sponsored by Sen. Leonidas P. Raptakis and Rep. Patricia A. Serpa that caps the interest rates charged by the town of Coventry to ratepayers for the town’s sewer project has become law after its passage by the General Assembly.

“These bills have given relief to the sewer rate payers directly, and to the taxpayers indirectly, of the town of Coventry in the thousands of dollars by capping the interest rate to the same rate as borrowed from the town and only a small fraction for administrative costs,” said Senator Raptakis (D-Dist. 33, Coventry, East Greenwich, West Greenwich)." Read full press release at: State of RI General Assemble News.