Paul Burton

After voters in Princeton Borough, N.J., and Princeton Township approved a referendum two weeks ago to consolidate into one community, municipal finance and other observers agreed that it could reflect a trend.

HARRISBURG, Pa. - A federal judge on Wednesday dismissed the Harrisburg City Council's petition seeking protection from creditors under Chapter 9 of the federal bankruptcy code.

Former Vermont Gov. Jim Douglas, who also served as treasurer, called for reviving a bond program to help residents pay for the massive infrastructure damage sustained when Tropical Storm Irene belted the state in late August.

Rhode Island’s pension overhaul legislation, signed recently by Gov. Lincoln Chafee, is a credit positive, according to Moody’s Investors Service.

Moody’s Investors Service has downgraded Lancaster County, Pa.’s underlying general obligation rating to A1 from Aa2, affecting $268 million of parity debt.

New York State Comptroller Thomas DiNapoli has named Jennifer Freeman director of communications. She will begin Monday at a salary of $145,000.

The Port Authority of New York and New Jersey’s Board of Commissioners approved a new architectural design developed for the exterior cladding system that will cover the 185-foot tall secure base of One World Trade Center.

The Empire State Development Corp. has named a review committee that will hear presentations of final strategic plans proposed by officials from 10 regions throughout New York.

Maine needs a strong bond package in 2012 to fix its crumbling infrastructure, said the legislative director at the Maine Center for Economic Policy.

A federal judge on Wednesday dismissed the Harrisburg City Council’s petition seeking protection from creditors under Chapter 9 of the federal bankruptcy code.

Harrisburg Mayor Linda Thompson urged the Commonwealth Court of Pennsylvania to require the capital city's new state-appointed receiver to implement her proposed financial recovery plan.

Rhode Island's passage of landmark pension overhaul legislation could clear a path for similar moves in other states that need it, municipal and bond market observers say.

The status of a bankruptcy filing of compelling interest to the municipal finance and legal industries will be in the hands of a federal judge in Harrisburg, Pa., this week.

Harrisburg City Council Vice President Patty Kim said the capital is but one of many struggling cities in the state.

Moody’s Investors Service has downgraded Allentown’s underlying general obligation rating to A2 from A1, affecting $100 million of parity-related debt. The outlook remains negative.

Weak and unsettled economic conditions worldwide have darkened New York’s fiscal outlook, the Division of the Budget said in the midyear update to its fiscal 2012 financial plan.

Massachusetts issued $1.2 billion in cash-flow notes at what Treasurer Steven Grossman called record-low interest rates.

The $150 million refunding portion of Connecticut’s $700 million general obligation bond sale is expected to generate $21.5 million in budget savings over eight years, said Treasurer Denise Nappier.

The credit effect of the recent snowstorm and ensuing power outage on individual municipalities in Connecticut will depend on each local government’s level of financial flexibility, measured by existing liquidity and budgetary cushion, Moody’s Investors Service said.

Pennsylvania Gov. Tom Corbett on Friday nominated 30-year public finance veteran David Unkovic to be state-appointed receiver for Harrisburg.