MuniNet Guide articles and features
The History of Payment of State and Local Government Debt in the United States
Past economic downturns have taught us the importance of state and local governments to timely pay their public debts. The default rate for state and local government debt has been relatively low, especially compared to corporate debt default. However, we may be closer to a tipping point and departure from the historical assurances than we have ever been. Continue
Assessing the Credit Quality of America’s Cities-Part Two: The Achilles Heel to the Fiscal Condition of Cities - Public Pensions
In the second part of our series on city credit quality, the spotlight shifts to the Achilles heel for many cities: public pensions. While most cities have recovered from the recession, a number remain fiscally stressed and exposed to a host of significant liabilities, especially related to retirement benefits. Continue
Should Congress Pass HR 870 Allowing Puerto Rico to Authorize Its Municipalities Including Public Corporations to File Chapter 9?
Puerto Rico, its municipalities and public corporations are facing a significant financial challenge. The question is whether they are better served with one-off legislation such as The Recovery Act and the accompanying litigation, uncertainty and controversy or the passage of HR 870. Continue
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