The $3.7 trillion municipal market is poised to shrink for a fourth straight year, the longest stretch in almost seven decades, underscoring localities’ reluctance to borrow for crumbling infrastructure.
U.S. local governments may cut almost 500,000 jobs through next year to cope with sliding property taxes, a decline in state and federal aid and added need for social services, according to a report released today.
San Carlos, a Silicon Valley suburb that calls itself the City of Good Living, will hire contractors to maintain parks and negotiate with county officials to take over policing, becoming the latest California community eliminating basic services to close budget deficits.
USA Basketball plans to move to Arizona after 35 years in Colorado. The first step is building parking facilities, which may not generate enough money to repay the municipal bonds financing the construction.