Michelle Kaske

Pennsylvania Gov. Edward Rendell extended the city of Harrisburg a lifeline Sunday to prevent it from defaulting on its general obligation debt and help pay Scott Balice Strategies to craft a long-term fiscal plan for the capital city.

The Pittsburgh and ­Allegheny County Sports and Exhibition Authority Tuesday will sell $150 million of tax-exempt revenue bonds to refinance debt and generate savings.

Puerto Rico’s economic activity index declined by 1.4% in July after five consecutive months of growth.

New Jersey Gov. Chris Christie last week proposed ethics reform measures that would require legislators to file the same financial disclosure statements submitted by the executive branch and also ban dual office holdings at all levels of government.

Harrisburg and Pennsylvania officials are working on securing a potential bank loan so the city can meet a $3.3 million debt-service payment due Sept. 15 and avoid a default.

New Jersey Attorney General Paula T. Dow Thursday announced that JPMorgan will pay the state $1.1 million and buy back auction-rate securities from New Jersey investors to resolve allegations that the bank failed to disclose the risks involved with the ARS market.

Moody’s Investors Service late Tuesday upgraded to A1 from A2 the Southeastern Pennsylvania Transportation Authority, affecting $327 million of debt. The outlook is stable.

New Jersey Gov. Chris Christie Tuesday announced reform measures that would change the state’s ethics laws, pension and benefit packages, economic development initiatives, and education system.

Tom Neff will head New Jersey’s Division of Local Government Services and chair its Local Finance Board, which monitors the fiscal operations of cities, towns, and counties.

Fitch Ratings last week upgraded the Southeastern Pennsylvania Transportation Authority to AA from A-plus, affecting $327 million of outstanding debt.

The Delaware River Port Authority on Thursday announced a hiring freeze and said it will cut next year’s budget by 2%, or $2.6 million, to reduce the bi-state agency’s spending.

The New Jersey Transportation Trust Fund Authority on Thursday approved a $1.4 billion new-money and refinancing deal that will most likely include taxable Build America Bonds.

Dauphin County Wednesday authorized TD Bank to pursue legal action against Harrisburg, as Pennsylvania’s capital city said it will not meet payments due Dec. 15 on $35 million of incinerator bonds.

Both Democratic and Republican lawmakers in Pennsylvania agree that the state needs a long-term transportation funding strategy, but have yet to find consensus on how the state should pay for roads, bridges, and public transit.

Rebecca Rhynhart will leave her current position as Philadelphia’s treasurer and replace former budget director Stephen Agostini beginning Nov. 1.

Rhode Island Treasurer Frank Caprio on Monday urged Moody's Investors Service to withhold its rating on a $75 million taxable bond deal that would finance the relocation of a video game company headed by former Red Sox baseball player Curt Schilling.

Moody's Investors Service Monday downgraded Lowell General Hospital in Massachusetts to Baa1 from A3 as the health care provider plans to increase its debt load dramatically to help finance a new patient tower. The outlook is stable.

The U.S. Department of Housing and Urban Development is auditing financial and management operations at the Philadelphia Housing Authority in the wake of allegations it asked vendors to donate to certain charities and events benefitting its executive director, Carl Greene.

Pennsylvania State University will receive up to $122 million of federal funds to lead a team to develop energy-efficient technologies for buildings.

The Delaware River Port Authority last week approved additional management reforms as the agency looks to terminate $53 million of a $403 million derivative associated with its debt.