Allegheny County chief executive Dan Onorato wants to make government consolidation one of his top priorities during his second four-year term, he said last week at his inauguration. “I am recommitting my administration to the goal of streamlining government and reducing costs by eliminating duplicated functions,” Onorato said in his second inaugural address Wednesday. Onorato said his efforts at reducing the number of “row offices” — including those of the treasurer, district attorney, sheriff, and controller — from 10 to four saved taxpayers at least $1 million annually. Additionally, he said his efforts to reduce the number of 911 call centers in the county from five to one will help save $3 million annually. “It’s something that we have seen a lot more municipalities and counties talk about,” said Moody’s Investors Service analyst Jenny Maloney. If the possible consolidations help control costs, it could be positive for Allegheny County, she said. Moody’s gives the county an underlying rating of A3. Details of Onorato’s plans to reduce or merge certain municipalities in the county remain unclear as his office has yet to release any formal plans. There are 130 municipalities and more than 100 police departments within Allegheny County.
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The county commission said it hopes to regain Moody's ratings this fall.
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Market participants launched the largest lobbying effort in recent memory to protect municipal bonds and got what they wanted as the tax-exemption survived.
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UST yields rose across the curve in response to the employment report with the two-year rising nearly 10 basis points while municipals largely ignored the moves and ratios fell as a result.
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Oregon Department of Transportation leaders said they will begin layoffs Monday after lawmakers adjourned without passing a transportation funding bill.
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"If you are seeking the services of a municipal advisor, it would be helpful to use the term municipal advisor in your RFP/Qs," said Sanchez, director of the SEC's Office of Municipal Securities.
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The growth of the muni market comes as issuance surges, with the first half of the year seeing $280.64 billion of supply, up 14.3% year-over-year, according to LSEG.
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