Municipal bankruptcy news

Jefferson County, Alabama recently declared bankruptcy, in the largest US municipal bankruptcy to date. Harrisburg, Pennsylvania has also sought bankruptcy this year although just a few days ago (thanks, Kenyatta) the U.S. Bankruptcy Court denied its filing. In both cases, infrastructure investment was one of the factors involved (sewer system in Jefferson County, incinerator in Harrisburg).  Here is a useful “explainer” from on what is actually entailed when a local government goes bankrupt.

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