Harrisburg Offers Financial Plan For Pa. Court Approval

Law360, New York (August 26, 2013, 7:34 PM EDT) -- Pennsylvania's financially beleaguered capital city is one step closer to restructuring about $345 million in debt from a bungled waste-to-energy municipal project after a state-appointed receiver unveiled a financial restructuring plan before a state court on Monday.

If confirmed by the state Commonwealth Court, the plan promises to give the City of Harrisburg balanced budgets through 2016, sell the incinerator in question, fund up to $20 million for economic development and infrastructure upgrades, and create a trust fund to address post-retirement health care costs for unfunded...
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