Ted Phillips

A receiver appointed by Rhode Island to take over the city of Central Falls’ operations moved quickly on his first day Monday, relieving its mayor of his duties and firing an official.

Rhode Island on Friday appointed a state receiver to oversee the finances of the insolvent city of Central Falls.

New York likes to do things its own way. So when the U.S. Treasury Department began implementing a new housing bond program to help revive housing finance agencies hurt by the mortgage meltdown, the state’s biggest issuers of such bonds wanted to adapt it to their own business models.

New York Gov. David Paterson last week signed four laws designed to boost the participation of minority- and women-owned firms in state agency and authority contracts, including financial services.

New York’s still-incomplete budget continues to delay the sale of personal income tax bonds and, according to a report released Thursday, contains assumptions for $4.8 billion of revenue and savings estimates that may be overly optimistic.

New York City reached outside its top underwriting tier to find two firms to lead manage an $800 million general obligation refunding this month, the city announced Tuesday.

The Magen David Yeshivah in Brooklyn has received a forbearance from its insurer after failing to meet its financial obligations on a $38.5 million bond issuance.

Moody’s Investors Service upgraded West Virginia’s general obligation debt one notch to Aa1 Friday, citing conservative fiscal management and favorable financial performance.

New York City and New York State have established a nonprofit corporation to operate, develop, and renovate Governors Island.

State and local government employers should adopt measures to prevent employees from boosting their pension benefits by working large amounts of overtime shortly before retiring, New York Attorney General Andrew Cuomo said last week.

Two proposals to develop and operate a racino at Aqueduct racetrack in New York City were disqualified last week, leaving only one in the running, the New York State Lottery Commission announced last week.

The New Jersey Senate last week passed a cap limiting annual property tax increases to 2%. Assembly Speaker Sheila Oliver, D-Essex and Passaic, said the Assembly will vote to approve the plan on Monday.

On Tuesday the Connecticut Bond Commission is expected to approve a $11.25 million bond issue to preserve open space, Gov. M. Jodi Rell said last week.

The Durst Organization is negotiating to buy a $100 million equity stake in One World Trade Center, the Port Authority of New York and New Jersey announced Wednesday.

The Georgetown Special Taxing District in Connecticut received a forbearance last week on $1.5 million of tax anticipation notes after failing to pay them on time.

The New York State Legislature ­adjourned last week without passing a complete budget, but a few bond-related bills still squeaked through the political deadlock.

The insolvent city of Central Falls repaid $4.1 million of tax anticipation notes on time last week, Rhode Island officials said.

New Hampshire Gov. John Lynch last week signed a $3.62 billion 10-year transportation plan into law.

New York expects to sell $5.9 billion of bonds to partially finance $10.87 billion of capital spending approved in the fiscal 2011 budget, which lawmakers said is nearly finished.

The New York City Council passed a $63.1 billion budget Tuesday evening that includes $8.92 billion of bonds to be sold to partially finance the city’s capital program.