Mayor Elorza Considers Bond Offering After Governor's Signature

Governor McKee signed a bill this week giving the city of Providence the OK to issue a bond for its stressed pension system.

Providence is authorized to borrow 515-million dollars.

Despite the Governor's signature--it is not a done deal.

Mayor Jorge Elorza notes that interest rates are rising, and that the city will only take the action if it makes financial sense.

(Photo by Spencer Platt/Getty Images)