Pension obligation bond

Joe Torsella still advised that such a move to backstop the commonwealth's two largest public retirement funds is no panacea.

The state attorney general is asking the court to clarify the legal standard for denying taxpayer actions and decide if the state constitution limits GO borrowing to capital purposes.

“What purpose do reserves serve if we don't utilize them in times when you have a problem?” one alderman asked.

Municipal issuers in the Far West sold $38.7 billion in bonds during the first six months of 2020, 8.8% more than they did the year before.

The structure in which bonds are backed by a lease of city streets is being used in the Southern California cities of Torrance and West Covina.

Without commenting on the legal merits laid out so far in the case, an appellate court panel concluded the lawsuit met the threshold to proceed as a taxpayer action.

The Illinois Public Pension Fund Association says POBs could offer a potential fix for some but some market participants urge caution due to POBs' perils.

Arlington, Texas, has weathered the pandemic with its ratings intact as it awaits the return of tourists and sports fans.

The bill was set aside as state lawmakers limit legislation to the issues of housing, wildfires and coronavirus. Meanwhile, more cities and counties issue POBs.

State Sen. John Moorlach thinks cities and counties should have to obtain voter approval before issuing pension obligation bonds.