Northeast

The bond insurer for Harrisburg, Pa.'s troubled incinerator renovation project has rejected a request from the city to forgive $100 million of debt.

Mike Spano will become the next mayor of Yonkers, N.Y., which saw a two-notch downgrade to its bond rating last month.

Rhode Island's House and Senate finance committees are scheduled to meet at 5 p.m. Thursday to consider an amended version of pension-overhaul legislation on the heels of a report that pegs the state's unfunded pension liability at nearly twice what state officials have estimated.

Supervisors and workers in a signal construction unit at the Metropolitan Transportation Authority's Metro-North Hudson and Harlem commuter train lines have manipulated the payroll system by abusing overtime rules that inflate their salaries and pensions, New York State Comptroller Thomas DiNapoli said in a forensic audit of overtime practices released Wednesday.

Rhode Island's state and local unfunded pension liability is $18 billion - nearly twice what state officials estimate - according to an Arlington, Va., think tank.

The attorney representing the Harrisburg, Pa., City Council in its bankruptcy filing said his endgame is to pay bondholders in full.

Voters in Cumberland County, Maine, Tuesday will vote on a 25-year, $33 million bond plan to renovate the Cumberland County Civic Center in Portland.

Retired police officers and firefighters, and unions representing municipal employees in Central Falls, have filed objections in federal bankruptcy court to Rhode Island-appointed receiver Robert Flanders’ plan to change their pensions and contracts.

Pennsylvania Sen. Jeffrey Piccola, who in the past year has sponsored legislation to put Harrisburg under state control and restrict its bankruptcy options, may no longer have parts of the capital city in his district.

Standard & Poor’s raised the long-term rating to AA-minus from A on the Union County Utilities Authority’s Series 1998A senior lease revenue bonds and Series 1998 taxable solid-waste landfill revenue bonds.