Senate approves Lawrence finance bill

March 9, 2010 - The Massachusetts Senate approved a bill allowing the City of Lawrence to float up to $35 million in municipal bonds to help balance its budget.

The Senate bill, like a House bill approved last week, would appoint a state overseer to monitor the city’s ability to balance its books.  Under both bills, the overseer could call on the state to appoint a control board at any time if the overseer determines the city can’t get its fiscal house in order.

For more information, click on the following:

• Brief Summary
• Full Summary
• Bill Text
• Coverage of the Senate debate (including Senator Baddour's remarks at 32:30)