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A receiver appointed by Rhode Island to take over the city of Central Falls’ operations moved quickly on his first day Monday, relieving its mayor of his duties and firing an official.
July 19 - Rhode Island
Rhode Island on Friday appointed a state receiver to oversee the finances of the insolvent city of Central Falls.
July 16 - New York
New York likes to do things its own way. So when the U.S. Treasury Department began implementing a new housing bond program to help revive housing finance agencies hurt by the mortgage meltdown, the state’s biggest issuers of such bonds wanted to adapt it to their own business models.
July 16 - Massachusetts
Massachusetts voters in November have the option to slash the state’s sales tax rate to 3% from 6.25%.
July 16 -
WASHINGTON — Former Southwest Securities Inc. banker John F. Kendrick has agreed to pay a civil penalty of $10,000 to settle Securities and Exchange Commission charges that he willfully violated, and caused the firm to violate, Rule G-37 by making significant political contributions to Massachusetts Treasurer Timothy Cahill.
July 15 -
A Harrisburg official who has been advocating a potential bankruptcy filing for Pennsylvania’s capital city released an alternative plan Wednesday that involves bondholders taking a potential cut on the $282 million of incinerator debt owed them.
July 15 - New York
New York’s still-incomplete budget continues to delay the sale of personal income tax bonds and, according to a report released Thursday, contains assumptions for $4.8 billion of revenue and savings estimates that may be overly optimistic.
July 15 -
New Jersey Transit Wednesday approved a $1.79 billion operating budget and a $1.35 billion capital plan for fiscal 2011, which began July 1.
July 14 - New Jersey
New Jersey’s Local Finance Board approved an initiative Wednesday to create a new utility bonding authority for the state’s largest city, as Newark Mayor Cory Booker said the agency was needed to avoid tax hikes of 35%.
July 14 - New York
New York City reached outside its top underwriting tier to find two firms to lead manage an $800 million general obligation refunding this month, the city announced Tuesday.
July 13
