A Joint Statement by Governor Raimondo, Speaker Mattiello, Senate President Paiva Weed and Treasurer Magaziner Regarding the Need to Honor the State’s Moral Obligation Bonds

PROVIDENCE, RI — Governor Gina Raimondo, Speaker of the House Nicholas Mattiello,
Senate President Teresa Paiva Weed and General Treasurer Seth Magaziner today issued
the following joint statement regarding their commitment to honoring the moral
obligation
bonds issued for the 38 Studios project:
«As Rhode Island’s elected leaders responsible for ensuring the state’s financial
well-being, we stand united in our continued support for honoring the moral obligation
bonds issued to finance 38 Studios.
«While we share the frustration of many Rhode Islanders, it is in the best interest
of the state and its taxpayers to pay these bonds. Defaulting on this obligation
would lower the state’s credit rating, harm our efforts to create jobs and grow
Rhode Island’s economy, and ultimately hurt the taxpayers.»