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Feb/10
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troubles in toledo
1 Comment | Posted by Natalie Cohen in bankruptcy and default, cities, municipal bonds
Looks like the city is making its best effort to try to resolve budget imbalance. Ohio is one of the states that has a strong oversight/receivership program and municipalities may not file bankruptcy without approval of the state. Local governments there do rely on income taxes, which is tough in the current economy, especially in auto and manufacturing which dominates the landscape.
1 Comment for troubles in toledo
Ohio Fiscal Emergencies - The Public Purse | March 7, 2010 at 11:42 AM
[...] am adding a link to this article that updates Toledo’s fiscal situation. (See prior post.) The city is wrestling with a budget gap and trying to negotiate with unions over [...]