Pennsylvania

The Scranton, Pa., City Council agreed to reconsider covering a $1 million debt payment to the Scranton Parking Authority, which is now in default.

Pennsylvania's House of Representatives on Wednesday passed a bill allowing the state to borrow up to $4.5 billion in a bond issue to pay off lingering unemployment compensation debt.

Pennsylvania's Department of Community and Economic Development on Monday named law firm Stevens & Lee the recovery plan coordinator for Altoona.

Moody’s Investors Service upgraded the Pittsburgh and Allegheny County Sports and Exhibition Authority’s $138.8 million of 2010 hotel-room excise tax revenue bonds to A2 from Baa1.

While still opposing any bankruptcy filing by her own city, Harrisburg Mayor Linda Thompson said she would object to any extension of the Pennsylvania law that limits cities of Harrisburg’s size from a Chapter 9 filing.

The Scranton, Pa., Parking Authority went officially into default on Friday after the City Council Thursday turned down a request to pay $940,000 from a contingency account for a loan payment.

Scranton, Pa.'s City Council is willing to allocate $940,000 from a contingency fund to the Scranton Parking Authority to avoid the agency’s default, but wants its officials to answer questions at a public caucus Thursday night.

The Commonwealth Court of Pennsylvania on Thursday approved Gov. Tom Corbett’s nomination of retired Major General William Lynch as receiver for distressed capital Harrisburg.

The Commonwealth Court of Pennsylvania will hold a confirmation hearing Thursday morning on Gov. Tom Corbett's nominee for Harrisburg receiver, retired Air Force Major Gen. William Lynch.

As Scranton, Pa.'s City Council and Parking Authority squabble over a $1.4 million allocation the agency says it needs to avoid default, one accountant in the city says Scranton itself should seek bankruptcy protection.

Standard & Poor’s raised its rating on the Philadelphia Parking Authority’s airport parking revenue bonds to A from A-minus. The outlook is stable.

Some retail investors are being more cautious when shopping for tax-exempt bonds in Pennsylvania, but overall, that hasn't decreased the volume of trading in the state, according to local traders and underwriters.

The U.S. Court of Appeals in Philadelphia has denied the attempt by the Harrisburg City Council to file for bankruptcy on behalf of Pennsylvania’s capital city.

Retired Air Force Major General William Lynch helped rebuild Iraq. But can he repair Harrisburg?

Pennsylvania Gov. Tom Corbett on Friday named retired Air Force Major General William Lynch as receiver for the state's distressed capital city of Harrisburg.

Harrisburg’s City Council tabled its vote to approve the hiring of chief operations officer Ricardo Mendez-Saldivia, citing its concerns over the receivership plan for Pennsylvania’s distressed capital.

Pennsylvania declared the city of Altoona its 27th distressed municipality. C. Alan Walker, secretary of the Department of Community and Economic Development Secretary, made the announcement Thursday. He has 30 days to appoint a recovery plan coordinator for the city under the Act 47 program.

WASHINGTON — The Internal Revenue Service has notified the Cumberland County, Pa., Municipal Authority that $10 million of Series A revenue bonds it issued in February 2008 have been selected for examination.

The attorney representing the Harrisburg, Pa., City Council in its bankruptcy appeal filed a counterclaim Monday against the state, mayor and Dauphin County, all which sought damages against him two weeks ago.

Harrisburg City Council member Patty Kim won a four-person Democratic primary for Pennsylvania state representative in the 103rd District.