The Public Purse

Your intelligent source for municipal finance information

Page 14 of 21

San Diego City’s Financial Crisis: The Past, Present and Future

The Grand Jury of San Diego issued a report of this title yesterday.  Also, at yesterday’s GFOA (Government Finance Officers Association) business meeting, the group voted  that the Government Accounting Standards Board should stay away from the topic of sustainability. … Continue Reading →

Hurricane Season and Municipal Bonds

June 1st marks the beginning of hurricane season.  It’s been quiet for a few years but forecasters are predicting a more active 2010 season.  Here are a few thoughts for analyzing the links to municipal bonds.  Gray and Klotzbacher of… Continue Reading →

California Cities and Bankruptcy

See this post on Reuters for discussion about Antioch, latest city in California to talk bankruptcy.  There is a bill, sponsored by state senator Mendoza, AB155, that would require cities to go through the state (via the California Debt and… Continue Reading →

Municipal Market Thoughts

Why is the municipal market selling at such a premium?  I have been asked this question several times in the last few weeks — not by career municipal analysts at mutual funds or rating agencies, but sophisticated investors who are… Continue Reading →

Is the State of Illinois Insolvent?

The Illinois Comptroller’s April report  is scary reading.  The state is $4.5 billion in arrears on payments to vendors and others (like school districts and service providers) with no end in sight.  The Comptroller expects 2011 to be worse.  The following chart… Continue Reading →

Another Chapter 9 Pending?

I read this news story with a “ho hum” since their debt is to the county until I saw that they have $10 million utility debt that they are trying to reduce with a Chapter 9 filing?  Iowa is one… Continue Reading →

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