Pennsylvania

Time limits to the length of stays in Pennsylvania's distressed-municipalities program will have a mixed effect on Keystone State cities' credits, according to Moody's Investors Service.

Regardless of the outcome of Tuesday's elections, Pennsylvania's cities face problems from rising pension liabilities to fewer dollars from Harrisburg, according to six mayors.

Harrisburg, Pa., has a balanced budget after City Council members passed a resolution to add savings from a months-long hiring freeze to offset expenses.

Richard Ciccarone of Merritt Research and Tim Hadley and James Morris from Investortools will speak at the Nov. 4 meeting of the Philadelphia Municipal Analyst Society.

The Philadelphia City Council rejected the mayor's proposed sale of the city's gas utility Monday.

The internal Revenue Service is conducting a targeted audit of Philadelphia's series 2010A water and wastewater revenue refunding bonds, $396.46 million of which were issued.

Harrisburg has petitioned a Pennsylvania court to incorporate a nonprofit that will focus on long-term economic development and infrastructure improvements.

Moody's Investors Service changed its outlook on the Baa2 rated Albert Einstein Healthcare Network to negative from stable.

West Hazleton Borough exited Pennsylvania's Act 47 program for distressed municipalities, according to Gov. Tom Corbett

Capital Region Water received a $125,000 grant to develop a green stormwater infrastructure plan for Harrisburg, Pa., from a Pennsylvania conservation agency.

Gov. Tom Corbett announced a $66 million investment in 19 water and wastewater projects across 16 Pennsylvania counties through Pennvest.

Harrisburg, Pa., will start the clock again for yet another city treasurer after Timothy East resigned following revelations of his personal bankruptcy. He had been named to the position in September after predecessor John Campbell was charged with theft from two nonprofit groups.

Timothy East became the second Harrisburg, Pa., treasurer to resign in two months, a city official confirmed late Tuesday.

Pittsburgh stands to realize $3.2 million, or 5%, of present-value savings from its expected $63.3 million refunding scheduled for Oct. 22, according to city finance director Paul Leger.

An extra layer of state oversight loosely based on the Harrisburg receivership may evolve from Pennsylvania's new time limit for distressed municipalities to stay in its Act 47 program.

The Penn Institute for Urban Research will host the discussion, on urban fiscal policy and public pensions on Nov. 11 in Philadelphia.

Pittsburgh plans to come to market next week with a refunding of $70 million in general obligation bonds in two series.

Sound fiscal practices are vital for Pennsylvania's distressed cities, regardless of how long they stay in the state-sponsored Act 47 workout program, analysts say. A new law will limit cities' stay in Act 47.

The Penn. requirement that the Philadelphia School District's teachers pay 5%, 10% or 13% of their healthcare premiums is a credit positive for the district, Moody's Investors Service said.

State Auditor General Eugene DePasquale and six central Pennsylvania mayors will discuss local finances in an Oct. 27 roundtable discussion in Harrisburg.