by James Spiotto As discussed below, over half of states have implemented municipal debt supervision or restructuring mechanisms to aid municipalities. These programs, many of which are identified in the table below and which are described in detail in Municipalities...
Month: April 2015
Chapter 9 and Alternatives – Part One: Lessons Learned: An Update on the Municipal Bankruptcy Experience
by James Spiotto The state legislatures, in considering how best to assist local governments facing financial challenges or economic distress, may find instructive how other states have addressed these problems and the alternatives and opportunities available in the...
Are Public Libraries Still Relevant in American Communities?
by Mardee Handler Founded in 1833, the Peterborough Town Library in Peterborough, New Hampshire is the oldest tax-revenue supported library in the nation. If you visit its website, you’ll be greeted by an offer to follow the library on Facebook, attend a workshop to...
Of Michael Lewis and Today’s Muni Market
Market Outlook Last Friday, the fixed-income market reacted in rather surprising fashion to a very strong April employment report: it actually rallied, pushing the benchmark yield on 10-year Treasuries down near the low for the year at 2.58%. Apparently, the positive...
Assessing the Credit Quality of America’s Cities – Part Three: Long-Term Liabilities beyond Pensions
By Richard A. Ciccarone City Financial Challenges Beyond Pensions When Assessing the Credit Quality of America's Cities, pensions aren't the only big long term liability facing America's cities. Add to the list bonded indebtedness, other post-employment benefits...
Economic Indicators 2014 Year-End Data Reveals Uneven Recovery
The U.S. economic recovery is now almost six years old (June 2009 was the final month of the recession). This recovery has been deemed weak, with both GDP and job growth remaining both erratic and uneven. Unemployment levels have declined to a sub 6% level from a 10%...