Michelle Kaske

HARRISBURG, Pa. — Scott Balice Strategies will not advise the city of Harrisburg on its $282 million of incinerator debt—unless the firm wants to go through another request for proposals process.

The New Jersey Turnpike Authority approved up to $2.53 billion of new-money and refunding bonds Tuesday to help finance capital projects and generate potential debt-service savings.

While municipal market professionals said they do not believe there is systemic risk in state and local government debt, there are underlying issues and credit challenges.

Pittsburgh could follow in Chicago’s footsteps and lease its parking spaces and city-owned garages to a private operator.

New Jersey residents are evenly split over whether the state and its municipalities should reduce pension benefits for current government employees, according to a recent Monmouth University/Gannett New Jersey poll.

Moody’s Investors Service changed New Jersey’s outlook to negative from stable, citing a structural deficit, the end of federal stimulus funds, and the state’s unfunded retirement costs.

Moody’s Investors Service changed New Jersey’s credit outlook to negative from stable Wednesday evening, citing a structural deficit, the end of federal stimulus funds, and the state’s unfunded retirement costs.

The Puerto Rico Electric Power Authority will sell $200 million of tax-exempt refunding debt early next week to generate interest-rate savings.

Newark’s Municipal Council Tuesday afternoon granted its initial approval for a proposed real estate lease-back agreement to be financed with bonds.

Pennsylvania is gearing up to issue at least $2 billion of general obligation debt via competitive bid before the end of the calendar year as officials keep a wary eye on the possible expiration of the Build America Bond program.

Pennsylvania’s last-minute plan to help its capital city meet a $3.3 million general obligation payment to bondholders last week is a “credit positive,” but Harrisburg needs “external support” to achieve long-term fiscal stability, according to Moody’s Investors Service.

The National Puerto Rico Coalition is seeking a federal investigation of a rum-tax deal between U.K. spirit-maker Diageo PLC and the U.S. Virgin Islands.

Pennsylvania Sen. Jane Clare Orie, R-Allegheny and Butler, last week urged lawmakers to pass legislation by Oct. 1 that would establish a nonpartisan Legislative Fiscal Office.

The Port Authority of New York and New Jersey last week committed $1 billion toward revamping or replacing the Bayonne Bridge.

New Jersey Transit will suspend for 30 days new contracts and work on a new passenger-rail tunnel that will run under the Hudson River between New Jersey and Manhattan, as the federal government believes the project may cost an additional $1 billion.

New Jersey Treasurer Andrew Eristoff Thursday named Gov. Chris Christie’s pension and benefit reform initiative as among the state’s top fiscal priorities during a Municipal Forum of New York luncheon.

The Puerto Rico Public-Private Partnerships Authority announced its short list of four consortiums Wednesday that may submit proposals in a potential long-term lease agreement involving the island’s busiest toll road.

HARRISBURG, Pa. - The Harrisburg City Council Tuesday night unanimously approved the transfer of $3.3 million to allow the city to meet a debt-service payment due today to bondholders of Series 1997D and Series 1997F general obligation bonds.

New Jersey Gov. Chris Christie Tuesday unveiled pension and health care reform measures that would help curb the state’s unfunded liabilities while passing more of those costs on to employees.

As litigation began Monday against the city of Harrisburg and the Harrisburg Authority, other Pennsylvania municipal governments are facing similar fiscal woes — rising labor costs and sluggish revenue streams.