Pennsylvania

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.

Pennsylvania Turnpike Commission chief executive officer Joseph Brimmeier Wednesday urged more tolling of interstate highways to help generate additional revenue for transportation needs.

The Pennsylvania Economic Development Financing Authority next month will sell $30 million of unrated tax-exempt revenue bonds to help finance a new equipment facility and terminal upgrades for US Airways at the Philadelphia International Airport.

Pennsylvania Gov. Edward Rendell Monday called for a special session of the legislature to begin Aug. 23 to address the state’s $472.5 million transportation funding gap.

A Harrisburg official who has been advocating a potential bankruptcy filing for Pennsylvania’s capital city released an alternative plan Wednesday that involves bondholders taking a potential cut on the $282 million of incinerator debt owed them.

Pennsylvania Gov. Edward ­Rendell Tuesday signed a $28 billion general fund budget for fiscal 2011 after ­legislators worked through the holiday weekend to increase the state’s bonding capacity for redevelopment and establish a $1.55 billion capital spending plan.

Harrisburg Friday may select qualified financial advisers to participate in a request for proposal process, as Pennsylvania’s capital city looks towards addressing $282 million of outstanding incinerator debt that is in technical ­default.

Moody’s Investors Service Wednesday downgraded $2.68 billion of subordinate Pennsylvania Turnpike Commission bonds to A3 from A2 and assigned a negative outlook to the credit.

For the first time in his eight-year tenure, Pennsylvania Gov. Edward Rendell may sign a budget on time, as he announced Tuesday an agreement with the legislature that includes a new tax on natural-gas extraction.

The mayor of Allentown, Pa., says he’s been sitting down with union leaders to rework its labor agreements in a bid to keep the financially troubled city out of Act 47 — the state’s distressed municipalities program.

Pennsylvania Gov. Edward Rendell Friday sent a letter to Getty Petroleum Marketing Inc., urging it to work with ethanol producer Bionol Clearfield LLC to resolve differences over a purchase agreement as the oil company's demand for arbitration threatens the repayment of $65 million of tax-exempt revenue bonds.

Pennsylvania's capital city, Harrisburg, is seeking qualified firms to appraise city property that could generate money through a potential sale or lease and help pay down its debts.

Those looking for more Philadelphia Eagles post-game commentary from Pennsylvania Gov. Edward Rendell may get it after he leaves office in January, but before then he must finalize a tough fiscal 2011 budget and fill a $472.5 million transportation funding gap for next year.

The Harrisburg Authority will miss a $3.2 million June 1 payment to bondholders of incinerator debt sold in 2003 that helped finance upgrades to the Pennsylvania facility.

Pennsylvania officials yesterday weighed in on an initiative to prohibit local governments from using derivatives, with most participants in the public hearing urging greater state regulation and guidelines for such instruments rather than ending swaps at the local level.

Pennsylvania Gov. Edward Rendell yesterday announced proposals to address a transportation funding shortfall, including a short-term plan in which the state would sell $1 billion of debt during the next two years.

Pennsylvania faces a projected $1 billion fiscal 2010 shortfall as sluggish revenue collections will require further spending reductions and potential layoffs.

Pennsylvania officials will conduct a public hearing next week on an initiative to ban local governments from using derivatives.

Harrisburg, Pa., plans to release in the next few weeks a request for qualifications for financial advisers to help it tackle $282 million of outstanding incinerator bonds it guarantees, as officials continue to work on a forbearance agreement for the debt.

Harrisburg’s City Council Monday evening was set to hear from outside professionals and government officials regarding Pennsylvania’s municipal financial distress program in addition to information on bankruptcy filings.