Paul Burton

Pennsylvania’s program for distressed communities provides only temporary help, and other measures are necessary for the long-term health of cities, former Gov. Edward Rendell said Tuesday.

Judge Todd Hoover in the Dauphin County Court of Common Pleas has ruled that Pennsylvania’s municipal takeover law, passed in October, does not prevent the separate appointment of a receiver to operate the trash burner on behalf of creditors.

Rhode Island General Treasurer Gina Raimondo is opposing an attempt by Gov. Lincoln Chafee to reduce a $2.6 million taxpayer obligation to the pension fund.

Rhode Island General Treasurer Gina Raimondo is opposing an attempt by Gov. Lincoln Chafee to reduce a $2.6 million taxpayer obligation to the pension fund.

Reeling Providence received another rating downgrade late Monday when Moody's Investors Service lowered the Rhode Island capital's general obligation bond rating one level to Baa1 from A3, affecting $55.6 million of outstanding debt.

Gov. Andrew Cuomo has approved the request by New York’s Metropolitan Transportation Authority to fully fund the last three years of the agency’s five-year capital plan and lift its bond cap by $7 billion.

The New York Liberty Development Corp., which issues debt to help rebuild the World Trade Center, led the inaugural Bond Buyer 100 list of top bond issuers for 2011.

Some lawmakers want to fine-tune Pennsylvania's program for distressed communities, commonly known as Act 47, after it took a serious blow last fall from a state Supreme Court ruling about public employee arbitration.

Harrisburg’s City Council will schedule a public hearing within days over the Pennsylvania capital’s missing audits from 2009 and 2010.

With the Pennsylvania General Assembly considering legislation to rework the redevelopment assistance capital program, state Treasurer Rob McCord offered additional changes that he said would enhance the capital budget process.

New York City sold $470 million of new-money general obligation bonds by competitive sale last week, including $100 million of taxables and $370 million of tax-exempts.

Nashua, N.H., will save almost $2 million on the bonds that paid for building its North and South high schools eight years ago, Mayor Donnalee Lozeau announced.

An audit by New York City Comptroller John Liu cited "severe management flaws" in the city's 911 emergency phone system upgrade, and said absentee management led to $1 billion in cost overruns.

Four companies remain in the running to purchase the incinerator in Harrisburg, Pa., that is the focal point of the city's debt crisis.

The state-appointed receiver overseeing Harrisburg, Pa.' finances said he will announce on Tuesday his short list of qualified bidders to operate the city' incinerator, water and sewer system, and parking system.

The New York Mets'$162 million settlement Monday in the Bernard Madoff fraud case looms as a victory for a financially beleaguered baseball franchise that has experienced few of them in recent years.

Gov. Lincoln Chafee has fired the first shot in the latest battle over pension overhaul in Rhode Island.

Pennsylvania’s General Assembly has advanced to the Senate a bill requiring an annual financial and management audit of the Delaware River Joint Toll Bridge Commission by auditors in both the Keystone State and New Jersey.

State Senate Republicans in Albany have cut $770 million in capital financing for New York’s Metropolitan Transportation Authority and rejected the agency’s request for a $7 billion bonding cap increase.

New York City intends to sell $370 million of fixed-rate, tax-exempt new money bonds and roughly $100 million of fixed-rate taxable bonds via two separate competitive bids on Tuesday, subject to market conditions.