Michelle Kaske

The New York City Council Wednesday passed a $66 billion fiscal 2012 budget that avoids thousands of teacher layoffs and shutting down fire stations.

Moody's Investors Service Tuesday revised its outlook to negative from stable on $14 billion of outstanding Connecticut debt as the state faces unfunded pension costs and shrinking reserves.

New Jersey on July 1 plans to tap a $2.25 billion line of credit from JPMorgan to help meet cash-flow needs at the start of fiscal 2012.

New Jersey lawmakers this week are set to vote on the Democrats' $30.6 billion fiscal 2012 budget plan while debating a proposed temporary tax increase for residents making $1 million or more to help fund education spending.

Puerto Rico will issue its first new-money general obligation bond sale in nearly three years, a $304 million offering that will help finance transportation infrastructure upgrades.

Moody's Investors Service last week downgraded $1.1 billion of Catholic Health East debt to A2 from A1 due to cash-flow margins that fall below similar A-rated health care credits.

New Jersey Gov. Chris Christie Monday is set to sign into law legislation that requires government employees to pay more for pension and health care benefits.

The New York State Tobacco Settlement Financing Corp. next week will sell $975.5 million of tobacco refinancing bonds to generate savings.

A consortium led by Goldman, Sachs & Co. will pay a total $1.43 billion to maintain and operate Puerto Rico's busiest toll road for 40 years.

A consortium led by Goldman, Sachs & Co. will pay a total $1.43 billion to maintain and operate Puerto Rico's busiest toll road for 40 years.

The New York City Transitional Finance Authority Wednesday will competitively bid $300 million of building aid revenue bonds, including $100 million of taxable qualified school construction bonds.

New Jersey officials last week said the U.S. Army is set to leave Fort Monmouth on Sept. 15 as planned, disputing a report that the military would remain on the 1,100-acre site for another year.

New York City Mayor Michael Bloomberg Thursday announced the creation of a new bonding authority that would access the capital markets for nonprofit organizations throughout the city.

The Whitney Museum of American Art plans to borrow $125 million of tax-exempt bonds in mid-July to help finance construction of its new location in Manhattan's meatpacking district.

The Port Authority of New York and New Jersey has selected three consortiums to bid on a $1.5 billion replacement of the Goethals Bridge.

The New York State Tobacco Settlement Financing Corp. in late June plans to refinance $975 million of tobacco revenue bonds backed by the state's appropriation pledge.

Connecticut is set to form a new bonding authority that will oversee six state airports, including the Bradley International Airport.

Puerto Rico's general fund revenues from July through April total $6.4 billion, $105 million above budgeted estimates due to strong business tax and excise tax collections.

New York Gov. Andrew Cuomo last week filed legislation that would authorize $80 million of Empire State Development Corp. bonding for the State University of New York system and enable SUNY schools to boost tuition rates during the next five years.

Connecticut's Treasury Department is looking for investment banking firms to form a new pool of underwriters that will work on general obligation and revenue debt.