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Task force: State should borrow $500 million for schools

PROVIDENCE, R.I. (AP) — A school infrastructure task force is recommending Rhode Island borrow $500 million to repair the state’s schools by 2022.

Under the Rhode Island School Building Task Force’s proposal, the state would ask voters to approve a $250 million bond when they head to the polls next November and approve the bond again in 2022 to help fund the repairs. WPRI-TV reports the projected cost represents about half of Rhode Island’s borrowing capacity for the next decade.

The task force, which is co-chaired by General Treasurer Seth Magaziner and Education Commissioner Ken Wagner, is expected to vote on a final version of the report next week.

Democratic Gov. Gina Raimondo says she will use the recommendations as a guide for the upcoming fiscal budget — which is due next month.

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