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Smithfield council declines one-time $60,000 payoff for Smithfield Recreation Association
Summary
After an hour of debate, the Town Council voted down a motion to apply $60,000 of interest earnings to reduce the Smithfield Recreation Association's remaining debt to the town; members instead directed further study by the Parks & Recreation committee.
The Smithfield Town Council on Feb. 4 rejected a motion to apply $60,000 from interest earned on a previously returned $6 million payment to reduce the Smithfield Recreation Association's outstanding debt to the town.
Councilman Darren Bowman made the motion, saying the transfer would support youth sports and relieve SRA's debt burden. "In the interest of advancing and supporting our youth sports in the town of Smithfield, I would like to make a motion that this council authorize the allocation of $60,000," Bowman said.
The proposal drew extended debate about equity and precedent. Council…
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