Michelle Kaske

New Hampshire Wednesday will refund approximately $170 million of general obligation debt to generate savings as the state works towards filling a $140 million budget gap for ­fiscal 2010 and 2011.

Massachusetts Gov. Deval Patrick last week announced his plans to fill a $195 million fiscal 2010 budget gap due to increased state spending.

Pennsylvania Sen. Jake Corman, R-District 34, Wednesday said the Senate would not act on a fiscal 2011 budget bill until mid-May, but warned of another budget stalemate if Democratic leaders propose tax hikes to help balance next year’s spending plan.

The Massachusetts Department of Transportation today will issue its first-ever bond transaction, a $274.7 million fixed-rate refinancing to generate savings.

New Jersey Gov. Chris Christie last week signed his first bills into law, ushering in pension-reform initiatives that will help local governments and school districts with rising employee-benefit costs.

The Massachusetts Bay Transportation Authority last week approved Richard Davey as general manager of the state’s largest mass-transit system.

Former New Jersey Gov. Jon Corzine will take the helm of MF Global Holding Ltd, a clearing house for exchange traded and over-the-counter derivatives, effective immediately.

Pennsylvania-based ACTS Retirement-Life Communities Inc., the largest nonprofit continuing care retirement community provider in the U.S., will affiliate with two smaller East Coast senior-living centers, a move that may boost debt-service coverage for one.

The Puerto Rico Electric Power Authority Thursday will sell $850 million of tax-exempt, new-money bonds to pay down lines of credit that helped finance capital improvements.

Moody’s Investors Service last week revised Temple University’s outlook to negative from stable as fiscal challenges at Temple University Health System may affect the school’s balance sheet.

TRENTON, N.J. — New Jersey Gov. Chris Christie yesterday unveiled his first budget proposal, a $29.3 billion plan for fiscal 2011 that is $2.9 billion smaller than the current budget and fills a $10.7 billion deficit.

The Virgin Islands Water and Power Authority today will sell $78.1 million of long-term senior-lien debt, including $29 million of Build America Bonds, to help increase electric distribution throughout the island territory.

Puerto Rico officials last week affirmed its estimate that the commonwealth will generate $7.67 billion of tax revenue in fiscal 2010, while at the same time its Planning Board projects the local economy will contract by 3.6% this year.

Moody’s Investors Service last week downgraded Burlington to A2 from Aa3 and placed the credit under review for possible downgrade. The rating change affects approximately $87 million of outstanding parity debt.

New Jersey Gov. Chris Christie last week formed a privatization task force to evaluate what government operations could benefit from management by private companies.

Maine Gov. John Baldacci last week announced aproposal to sell up to $79 million of debt to help finance infrastructure projects throughout the state and create a projected 1,898 jobs.

Harrisburg, Pa., will operate under a budget that does not include payments for debt service on outstanding incinerator bonds after the City Council Tuesday evening declined to override Mayor Linda Thompson’s budget veto.

Lawmakers yesterday removed an amendment from the federal tax-extender bill that would have changed the way the federal government allocates rum-tax revenue to Puerto Rico and the U.S. Virgin Islands.

Allegheny County officials are working on a $2 billion initiative to expand public transportation between downtown Pittsburgh and its Oakland neighborhood — the city’s academic and cultural hub — and to boost mass transit within Oakland itself.

Harrisburg Mayor Linda Thompson Friday vetoed the Pennsylvania capital city’s $65 million fiscal 2010 budget because it doesn’t include current-year debt service obligations to bondholders on $282 million of outstanding incinerator debt.