Michelle Kaske

Puerto Rico gets nearly 70% of its electricity from oil, and residents there confront energy bills that are about twice what consumers pay on the U.S. mainland. The territory is trying to change that.

Barclays Capital will serve as senior manager on a $1.2 billion New Jersey Transportation Trust Fund Authority deal set to price in August or September.

Pennsylvania Infrastructure Investment Authority funds will help finance $129 million of drinking water and wastewater capital projects in 33 different counties.

Barclays Capital will serve as senior manager on a $1.2 billion New Jersey Transportation Trust Fund Authority deal set to price in August or September.

Puerto Rico is gearing up to issue approximately $2.55 billion of restructuring and new-money debt before the end of the year amid signs of rising economic activity.

New Jersey Gov. Chris Christie Wednesday released recommendations on how the state can improve its gambling and entertainment venues that have struggled during the economic downturn, including the use of tax-exempt bonds to help complete the stalled Xanadu ­project.

Newark Mayor Cory Booker Wednesday moved away from his proposal to create a new water utility authority to help close a $70 million current-year budget gap and instead announced that cuts would come from placing the city on a four-day work week and additional operating cuts.

The Massachusetts Department of Transportation is looking for underwriters to work on a potential refunding of $145 million of outstanding Western Turnpike debt.

The New Jersey Legislature on Aug. 5 will discuss the state’s projected $10.5 billion structural deficit for fiscal 2012.

Moody’s Investors Service Monday said that New Jersey’s new 2% property tax cap is a credit negative for the state’s local governments as those municipalities are already facing lower tax collections and rising employee costs.

Pennsylvania Gov. Edward Rendell Monday called for a special session of the legislature to begin Aug. 23 to address the state’s $472.5 million transportation funding gap.

Massachusetts voters in November have the option to slash the state’s sales tax rate to 3% from 6.25%.

New Jersey Treasurer Andrew Eristoff last week announced that Michael Bryan will become director of the Division of Taxation.

New Jersey Gov. Chris Christie last week announced an initiative to reduce salaries for public school superintendents that could save $9.8 million for school districts.

A Harrisburg official who has been advocating a potential bankruptcy filing for Pennsylvania’s capital city released an alternative plan Wednesday that involves bondholders taking a potential cut on the $282 million of incinerator debt owed them.

New Jersey Transit Wednesday approved a $1.79 billion operating budget and a $1.35 billion capital plan for fiscal 2011, which began July 1.

New Jersey’s Local Finance Board approved an initiative Wednesday to create a new utility bonding authority for the state’s largest city, as Newark Mayor Cory Booker said the agency was needed to avoid tax hikes of 35%.

New Jersey Gov. Chris Christie today is set to sign an initiative to limit annual property tax increases to 2% in the state, which has some of the nation’s highest taxes.

New Jersey officials are working on redeveloping an Army base in Monmouth County to revamp the site for civilian use and transform it into a center of economic activity in the region.

Pennsylvania Gov. Edward ­Rendell Tuesday signed a $28 billion general fund budget for fiscal 2011 after ­legislators worked through the holiday weekend to increase the state’s bonding capacity for redevelopment and establish a $1.55 billion capital spending plan.