Pennsylvania

Altoona, Pa.'s City Council will consider scheduling a referendum on whether to create a government study commission, one recommendation in its recovery plan.

Pennsylvania is distributing $8.6 million in restitution from JPMorgan Chase & Co., to municipalities and nonprofit organizations who were victims of a scheme to rig bids of municipal bond reinvestment contracts, the Pennsylvania Attorney General's office announced.

Renewing efforts to privatize Pennsylvania's state-owned liquor stores, Gov. Tom Corbett announced a plan to sell the system and raise $1 billion for schools.

Amalgamated Bank is providing a second round of financing to Scranton, Pa., so that the city can pay its employees and other obligations. The bank won't say what it's charging the city.

Pittsburgh city Controller Michael Lamb will run for mayor of Pittsburgh, challenging incumbent Luke Ravenstahl.

Allentown, Pa., officials have narrowed their short list for a 50-year concession P3 lease agreement for its water and sewer systems to six companies.

Gov. Tom Corbett awarded Britain's Camelot a $35 billion, 20-year Pennsylvania lottery privatization contract, subject to state attorney general approval and a court challenge.

Moody's says the West Penn Allegheny debt restructuring features "close parallels" to the bankruptcy of the teetering health system's predecessor 15 years ago.

Officials from Highmark and West Penn Allegheny Health System announced an agreement with West Penn bondholders to accept a haircut on their holdings, avoiding a potential bankruptcy and allowing an affiliation agreement to proceed.

Pennsylvania Democrats promised to fight Gov. Tom Corbett's deal with a British firm to privatize the state lottery through the courts, if necessary.

Pennsylvania chose Camelot Global Services of Britain to run its lottery system, though critics say Gov. Tom Corbett is moving too quickly on the privatization.

A private-sector financial consultant wants Scranton, Pa., officials to clarify a bond-document statement that he said contradicts property tax increase plans.

Harrisburg, Pa., Controller and mayoral candidate Dan Miller said he would appeal a judge’s decision that would force him to sign an agreement that allows the distressed city’s sale of Wild West artifact collections to proceed, the Patriot-News reported.

Pennsylvania lawmakers will debate legislation to forbid governments from interest-rate swap transactions. Supporters say unsophisticated governments can lose too much money from the complex deals.

Pennsylvania has released guidelines for public-private partnerships under the state's new P3 authorization law, and announced it would accept unsolicited proposals during May and October.

West Penn Allegheny Health System, bondholders and Highmark are continuing talks about a $475 million affiliation agreement, with West Penn possibly avoiding bankruptcy.

Allentown, Pa.'s City Council nixed a May referendum that could have complicated plans to lease out the city water and sewer systems, which Mayor Ed Pawlowski says would defray pension costs.

The impacts of property tax caps in the Eastern U.S. states are mixed, ranging from minimal to restrictive, according to a recent report from Standard & Poor's.

Master trustee UMB Bank told West Penn Allegheny Health System to file an audited financial statement within 30 days to avoid violation of a bond covenant.

Pennsylvania and Camelot Global Services mutually agreed to extend the firm's bid for private management of the state lottery, to Jan. 10 from Dec. 31.