Northeast

Pennsylvania and municipal officials within the next two weeks could finalize a potential forbearance agreement regarding $282 million of Harrisburg Authority incinerator bonds that would give the city 90 days to craft a repayment plan.

New York City and New York State have agreed to each sweep $200 million from the Battery Park City Authority to help close their budget gaps. The agreement also provides funds to provide mortgages for affordable housing projects.

Pennsylvania Gov. Edward Rendell yesterday called for a special legislative session to find $472.5 million for fiscal 2011 transportation needs as the Federal Highway Administration denied, for the second time, the state’s request to implement tolls on Interstate 80.

WASHINGTON — Triple-A rated Montgomery County, Md., the state’s most populous county, on Monday was put on review for a possible downgrade by Moody’s Investors Service, affecting $1.8 billion of outstanding debt.

New York State has masked the actual size of its deficits through maneuvers that provide merely temporary budget relief, the state comptroller said in a report yesterday.

New York State and New York City’s borrowing authorities plan to issue up to $6.17 billion of new-money bonds in the second quarter, according to a forward issuance calendar released by the state comptroller’s office last week. Additionally, issuers plan $1.53 billion of refundings and $186 million of conversions.

New Hampshire Wednesday will refund approximately $170 million of general obligation debt to generate savings as the state works towards filling a $140 million budget gap for ­fiscal 2010 and 2011.

Pennsylvania Sen. Jake Corman, R-District 34, Wednesday said the Senate would not act on a fiscal 2011 budget bill until mid-May, but warned of another budget stalemate if Democratic leaders propose tax hikes to help balance next year’s spending plan.

The Dormitory Authority of the State of New York gave final approval to $791.3 million of bonds at its board meeting yesterday, while also creating a finance committee as required under a public authorities reform measure enacted last year.

The Massachusetts Department of Transportation today will issue its first-ever bond transaction, a $274.7 million fixed-rate refinancing to generate savings.