New Jersey

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.

Newark, the largest city in New Jersey, must now look towards additional spending cuts and tax increases to fill a $70 million shortfall in its $600 million fiscal 2010 budget as the municipal council last week tabled Mayor Cory Booker’s plan to create a new utility authority.

The Port Authority of New York and New Jersey on Thursday approved a $1.2 billion expansion of a terminal at John F. Kennedy International Airport on behalf of Delta Air Lines and its partners.

The New Jersey Transportation Trust Fund Authority plans to use an outside financial adviser to help craft a financing plan as it faces the prospect of running out of money for new capital projects by July 2011.

Pennsylvania and New Jersey are looking to a potential public-private partnership to help finance replacement of the 50-year old Scudder Falls Bridge, which connects the two states over the Delaware River.

Mary Jane Darby, director of project management at the New Jersey Educational Facilities Authority, will serve as the agency’s acting executive director.

Roger Anderson last week stepped down as executive director of the New Jersey Educational Facilities Authority after serving there nearly eight years.

Barclays Capital will serve as senior manager on a $1.2 billion New Jersey Transportation Trust Fund Authority deal set to price in August or September.

New Jersey Gov. Chris Christie Wednesday released recommendations on how the state can improve its gambling and entertainment venues that have struggled during the economic downturn, including the use of tax-exempt bonds to help complete the stalled Xanadu ­project.

Newark Mayor Cory Booker Wednesday moved away from his proposal to create a new water utility authority to help close a $70 million current-year budget gap and instead announced that cuts would come from placing the city on a four-day work week and additional operating cuts.

The New Jersey Legislature on Aug. 5 will discuss the state’s projected $10.5 billion structural deficit for fiscal 2012.