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Plan to fix Harrisburg finances goes to Pa. court

September 19, 2013
Associated Press

HARRISBURG, Pa. (AP) — A Pennsylvania judge will hear arguments on a plan to rescue the finances of the state's capital from the brink of bankruptcy.

The Thursday hearing in Commonwealth Court is on a plan assembled by the state-appointed financial custodian of Harrisburg. Court approval is required for the plan to take effect under a 2011 law that allowed an unprecedented state takeover of the troubled city.

Harrisburg receiver William Lynch submitted the plan last month in a bid to relieve hundreds of millions of dollars of debt and erase the city's persistent budget shortfalls.

The plan involves selling the city's municipal trash incinerator, whose $350 million debt the city is unable to repay. It also involves transferring the city's parking garages and lots to a state economic development agency.

 
 

 

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