Northeast

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.

New York State ended its 2011-12 fiscal year with major reductions in structural budget gaps, but tax receipts underperformed expectations for the fifth year in a row, according to a report released by the state comptroller on Monday.

In a radio address on Saturday, Maine Gov. Paul LePage targeted a proposed $96 million bond package, saying the state must address its 2013 budget before he accepts any proposal.

In the next chapter in Rhode Island's ongoing battles about public pension overhauls, the Providence City Council on Monday night is expected to approve sweeping changes to its pension system.

If passed, Rhode Island’s new legislation to allow acquisitions would be a credit positive for small community hospitals in the state, Moody’s Investors Service said in a report.

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

Suffolk County’s larger than estimated deficit is a credit negative, Moody’s Investors Service said in a report last week.

Former Yonkers, N.Y., deputy mayor William Regan, who received a controversial last-minute spike in pay, also attempted in vain to receive thousands of extra dollars in unemployment pay, the Journal News of Westchester County reported.

Moody’s Investors Service cut Lopatcong, N.J.’s general obligation bonds one notch to A1 from Aa3.