Central Coventry Fire District requests $1.5M in loans
The Central Coventry Fire District is requesting an additional credit line of up to $1.5 million from Centerville Bank in anticipation of the districts fiscal year 2012-2013 tax revenues.
The request, made by permanent master Richard Land, comes a week after the General Assembly approved a bill that allows the district's Special Master to issue tax bills to the residents of the district. The bill will become law on May 10th 2013 without the Governor's signature.
The matter will go before a judge on Friday.
In April, the fiscally struggling fire district was recently loaned $300,000 from the town of Coventry to keep its doors open until mid-may.
Taxpayers voted twice to reject a tax increase in order to save the fire district and at the end of March a judge ordered the district dissolved. Since then the district's fate has been unclear.