Paul Burton

Nassau County Executive Edward Mangano has submitted a $2.6 billion budget for fiscal 2012 while a New York State-appointed oversight board continues to cast a watchful shadow.

Nassau County Executive Edward Mangano late Wednesday submitted a $2.6 billion budget for 2012 that eliminates a $310 million deficit and lays off more than 1,000 workers.

A court ruling favorable to Rhode Island state employees in a pension case is expected to further complicate debate in the state, where pensions have been central to a municipal bankruptcy and where a special legislative session will convene next month to discuss pension overhaul.

While a state takeover looms for Harrisburg after the City Council on Tuesday night again rejected a financial recovery plan, Pennsylvania's capital will be able to meet its general obligation bond obligations and make payroll for the rest of the year.

Fairfield, Conn., is targeting an Oct. 31 opening for its third Metro-North Railroad train station after the town passed a $7.5 million bond authorization to cover the costs of the long-delayed Fairfield Metro project marked by cost overruns.

A court ruling favorable to Rhode Island pension workers is expected to further complicate debate in the Ocean State, where pensions have been central to a municipal bankruptcy and where a special legislative session will convene next month to discuss pension overhaul.

In a special election that drew nationwide attention, Republican Bob Turner defeated Democrat and former municipal bond banker David Weprin Tuesday night for New York’s Ninth Congressional District seat that Anthony Weiner vacated three months ago.

While a state takeover looms for Harrisburg after the City Council on Tuesday night again rejected a financial recovery plan, Pennsylvania’s capital will be able to meet its bond obligations and make payroll for the rest of the year.

The mayor of Collingswood, N.J., criticized Moody's Investors Service for imposing a rare "super downgrade" on it - six notches to Ba1, or junk status, from A1, affecting $27.8 million of outstanding rated debt.

The New York State Dormitory Authority plans to sell $491 million of Series 2011A revenue bonds for the North Shore-Long Island Jewish Obligated Group through negotiated bid on Thursday, following a one-day retail order period.

Rhode Island's retirement system is essentially "an implied contract" between the state and its employees, a judge said Tuesday in a ruling that favored the Ocean State's pension workers.

Moody's Investors Service late Monday downgraded the general obligation rating of Collingswood, N.J., six notches to Ba1 from A1 – called a “super downgrade” – and placed it on a watch list for a possible further downgrade. This affects $27.8 million in rated outstanding debt.

The New York City Municipal Water Finance Authority has scheduled for Tuesday a competitive issuance of $458 million of new-money and refunding bonds.

Some of investment banking's marquee names are competing to run Puerto Rico's main airport under a privatization plan that's part of a Federal Aviation Administration pilot program.

Rhode Island revenue collections increased 2.2% over that of the previous fiscal year, the state’s Department of Revenue said in a special report on preliminary fiscal 2011 revenues.

Fitch Ratings upgraded the underlying rating on $430 million of outstanding Pennsylvania Turnpike Commission registration fee revenue refunding bonds, Series 2005, to AA-minus from A-plus with a stable outlook.

The New York City Transitional Finance Authority has issued $2.027 billion of 9/11 recovery bonds since the terrorist attacks, according to city Comptroller John Liu’s Office of Fiscal and Budget Studies.

Transportation Secretary Richard Davey warned that closing the Massachusetts Bay Transportation Authority’s budget deficit next year without fare hikes or service cuts would be “very difficult.”

Legislation enabling three Las Vegas-style casinos and one slot parlor in Massachusetts is credit negative for casinos throughout the Northeast, but particularly for those in neighboring Connecticut and Rhode Island, Moody’s Investors Service said.

The University of New England has received a $3.5 million state award from the Maine Center for Disease Control and Prevention to help open the first college of dental medicine in northern New England.