Budget battles continue to brew in Toledo, which faces a roughly $20 million deficit stemming from a steep decline in income tax revenue in 2009.

Mayor Carty Finkbeiner has said the city would likely be forced to lay off around 350 employees and implement a number of fee- and tax-raising measures unless unions agree to concessions.

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.