New Jersey

After heated debate, New Jersey lawmakers Monday approved a $1.4 billion Transportation Trust Fund Authority debt restructuring deal that also includes new-money bonds.

A $1.4 billion New Jersey Transportation Trust Fund Authority deal is caught in a political stalemate as the state’s Department of Transportation announced Friday it would halt all state-funded transportation projects until the Legislature approves the bond sale.

New Jersey Gov. Chris Christie picked former state Attorney General David Samson to replace Anthony Coscia on Thursday as chairman of the Port Authority of New York and New Jersey.

Public Financial Management Inc. will assist New Jersey in its plan to defease outstanding general obligation debt.

The New Jersey Turnpike Authority approved up to $2.53 billion of new-money and refunding bonds Tuesday to help finance capital projects and generate potential debt-service savings.

Moody’s Investors Service changed New Jersey’s outlook to negative from stable, citing a structural deficit, the end of federal stimulus funds, and the state’s unfunded retirement costs.

Newark’s Municipal Council Tuesday afternoon granted its initial approval for a proposed real estate lease-back agreement to be financed with bonds.

New Jersey Treasurer Andrew Eristoff Thursday named Gov. Chris Christie’s pension and benefit reform initiative as among the state’s top fiscal priorities during a Municipal Forum of New York luncheon.

New Jersey Gov. Chris Christie Tuesday unveiled pension and health care reform measures that would help curb the state’s unfunded liabilities while passing more of those costs on to employees.

New Jersey Attorney General Paula T. Dow Thursday announced that JPMorgan will pay the state $1.1 million and buy back auction-rate securities from New Jersey investors to resolve allegations that the bank failed to disclose the risks involved with the ARS market.

New Jersey Gov. Chris Christie Tuesday announced reform measures that would change the state’s ethics laws, pension and benefit packages, economic development initiatives, and education system.

Tom Neff will head New Jersey’s Division of Local Government Services and chair its Local Finance Board, which monitors the fiscal operations of cities, towns, and counties.

The New Jersey Transportation Trust Fund Authority on Thursday approved a $1.4 billion new-money and refinancing deal that will most likely include taxable Build America Bonds.

The Port Authority of New York and New Jersey on Thursday approved a financing agreement on World Trade Center development that clears the way for the refunding of $2.59 billion of escrowed Liberty bonds next month.

Newark, N.J., officials are considering selling certain properties to the Essex County Improvement Authority in a lease-back arrangement to help balance the fiscal 2010 budget.

The New Jersey Treasury Department received 12 responses from financial advisers to a request for proposals as the state looks to defease outstanding general obligation bonds.

Gov. Chris Christie last week signed into law a bill to create the Fort Monmouth Economic Revitalization Authority, which will transform an 1,100-acre Army base in northeastern New Jersey for civilian use.

Moody's Investors Service last week downgraded $1.1 billion of New Jersey cigarette tax bonds to Baa3 from Baa2. The outlook is negative.

Moody’s Investors Service Friday placed Newark, N.J.’s general obligation bond rating on review for possible downgrade as the city has less than three months to close a $70 million current-year budget deficit.

Use it or lose it. New Jersey’s Treasury Department plans to prod agencies into using an existing $1 billion of various general obligation bond funds, or the state may use them to help pay down GO debt or possibly meet other costs.