Paul Burton

The Pennsylvania Housing Finance Agency is scheduled to sell $81.4 million of single-family mortgage revenue bonds on Thursday after a one-day retail period.

The New York State Thruway Authority and the State of New York Mortgage Agency are scheduled to hold bond sales on Thursday totaling $500 million, with each following a Wednesday retail order period.

HARRISBURG, Pa. - The City Council's latest rejection of a state-sanctioned financial workout has left Harrisburg scrambling to meet $3.3 million in general obligation bond payments due in two weeks and two more payrolls this month.

While a state takeover of Pennsylvania’s capital city hovered after the City Council again voted against a financial recovery plan Wednesday, a more immediate crisis loomed in Harrisburg: where to get the cash to make a $3.3 million general obligation bond payment due in two weeks, and to make September payroll.

Treasurer Steven Grossman said Massachusetts' recent move to become the fourth state to have more than $1 billion in its rainy-day account sends an emphatic message.

The state-appointed receiver for bankrupt Central Falls, R.I., has written retired police officers and firefighters, informing them of further cuts in pension benefits.

The New York Local Government Assistance Corp. has postponed its sale of $191.2 million of Series 2011A fixed-rate subordinate-lien refunding bonds to Wednesday from Tuesday, citing disruptions from Hurricane Irene.

Pennsylvania Gov. Tom Corbett has held out both a carrot and a stick to Harrisburg.

Central Falls' state-appointed receiver has stepped into the bankrupt Rhode Island city's school district contract talks with teachers.

As the new developer of the stalled Xanadu retail and amusement mall project at the Meadowlands explores public financing options such as bond sales and tax breaks — possibly for as much as $1 billion — skeptics question whether a concept that worked in the hinterlands will succeed in New Jersey.

Treasurer Elizabeth Pearce and Gov. Peter Shumlin favor expanding Vermont's rainy-day fund to 8% from 5%. Vermont is among only 15 states with a triple-A rating from the three major rating agencies.

Chester, which has been in Pennsylvania's Act 47 program for distressed communities, has received an A rating from Standard & Poor's.

Standard & Poor's assigned its BBB-plus long-term rating and stable outlook to Philadelphia Gas Works' revenue refunding bonds, the 20th series under the 1975 ordinance and 10th series under the 1998 ordinance.

Fitch Ratings has placed two sets of BB-plus rated bonds issued by the New York City Industrial Development Agency on behalf of Staten Island University Hospital on positive rating watch.

Albany, N.Y., has two vacancies on its seven-member Industrial Development Agency board.

New York Gov. Andrew Cuomo nominated former state transportation commissioner Thomas Madison as executive director of the New York State Thruway Authority, subject to Senate confirmation.

Fitch Ratings has affirmed its long-term triple-A rating on Dartmouth College bonds issued by the New Hampshire Health and Education Facilities Authority, while assigning a stable outlook.

The Salem City Council will reconvene Sept. 8 to give second and final approval to two bond issues.

When Rhode Island sold $169 million of general obligation bonds on Wednesday after a two-day retail period, two words echoed amid huge jumps in yield: Central Falls.

Mayor Linda Thompson implored Harrisburg City Council members to approve her financial recovery plan, which will go before the council for a final vote at a special legislative session next Wednesday.