|By Liz Farmer, Governing|
|McClatchy-Tribune Information Services|
In its 6-1 ruling, the court overturned a lower court ruling and found that
Here's why Moody's is concerned that the opinion places pension reform in jeopardy: The majority opinion states, "Where there is any question as to legislative intent and the clarity of the language of a pension statute, it must be liberally construed in favor of the rights of the pensioner." This and other sections of the ruling "signal how the court could side with pensioners when it eventually addresses the constitutionality of recent state pension reforms, which have already been challenged, as well as
After proposing the idea this spring, the
Sold at an interest rate of 4.8 percent, the bonds mature in 2114 and will go toward financing a
"This issuance enables DC Water to spread the costs of the project over the minimum expected life of the tunnels and be supported by future ratepayers who will also benefit," DC Water General Manager
Thanks for the cash, Uncle Sam
Income growth across the 50 states was stronger during the first three months of 2014 than it was at the close of 2013, but still not anything to brag about, a new analysis by
"We continue to be encouraged by the personal income growth in the states beyond the 'resource belt,' [center of the country] but remain disappointed by the lack of momentum in this measure across all of the states," Mauro writes. "Personal income is a significant driver of state tax revenues and as such, has a material impact on state budgets. In this regard, we think caution will continue to be the watchword in state budget offices until more meaningful growth in personal income materializes."
In total, four states (
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