Michelle Kaske

New Jersey is seeking investment banking services for a general obligation refinancing as it also gears up for a new-money transportation deal this summer.

Puerto Rico’s economic activity index for April increased by 0.8% over March, as payroll employment rose for the third month in a row.

New Jersey Gov. Chris ­Christie yesterday pushed his proposed constitutional amendment to hold property tax increases at 2.5% and warned that without fiscal controls, the state could be the next Greece, as Treasury Department officials announced a $540 million revenue shortfall for fiscal 2010 and fiscal 2011.

New Jersey Gov. Chris Christie today will discuss his proposed constitutional amendment to place a 2.5% cap on property tax increases.

The Harrisburg Authority will miss a $3.2 million June 1 payment to bondholders of incinerator debt sold in 2003 that helped finance upgrades to the Pennsylvania facility.

Philadelphia Mayor Michael Nutter last week proposed eliminating nearly 340 positions after the City Council passed a $3.85 billion fiscal 2011 budget that requires $22 million of additional cuts.

Philadelphia’s Bureau of Revision of Taxes will cease to exist and its operations will fall within the city’s administration after voters last week opted to dismantle the agency.

Newark business administrator Michelle Thomas last week left her position as the city’s top fiscal chief to work at the Ferguson Group, a lobbying firm that represents local governments in Washington, D.C. Assistant business administrator Michael Greene will take Thomas’ position in an acting capacity.

New Jersey legislators last week passed a resolution that urges the Port Authority of New York and New Jersey to develop funding and engineering solutions to increase the Bayonne Bridge’s air clearance and accommodate larger vessels.

New Jersey Gov. Chris Christie Thursday vetoed two bills that would have increased taxes on individuals earning $1 million or more and restored property tax rebates for senior citizens.

Massachusetts is looking to form a pool of financial advisers to assist it with upcoming bond and note deals.

The Puerto Rico Electric Power Authority today will issue nearly $325 million of tax-exempt new-money revenue bonds to pay down outstanding lines of credit with local banks in Puerto Rico.

Puerto Rico lawmakers are now reviewing Gov. Luis Fortuño’s plan to regulate video lottery terminals in order to generate $220 million of needed revenue for the fiscal 2011 budget.

The Massachusetts Department of Transportation this week will price $893.8 million of fixed-rate senior revenue bonds to refinance Metropolitan Highway System debt it took on from the former Massachusetts Turnpike Authority, followed by a $207.6 million variable-rate senior debt sale.

Philadelphia voters tomorrow will weigh in on a referendum to terminate the Bureau of Revision of Taxes and move the agency’s functions within the city’s administration.

The New Jersey Legislature Thursday is set to vote on a bill that would increase the income tax on residents earning $1 million or more in 2010.

Newark Mayor Cory Booker last week won a second term as mayor of New Jersey’s largest city.

Massachusetts voters in November could face a ballot initiative to reduce the sales tax to 3% from 6.25%, a change that would slash collections by $2.5 billion in fiscal 2012.

The New Jersey Educational Facilities Authority is looking for financial advisory services for a one-year period with an option to renew for a second year.

Gov. Edward Rendell last week nominated William Lieberman to serve as a commissioner of the Pennsylvania Turnpike Commission.