24/7 Newsfeed

Put Reason 24/7 on Your Site


Follow Reason 24/7 on Twitter and via RSS

Harrisburg, Penn., May Run Out of Money by November

Harrisburg has enough cash in the bank to make payroll in September, but even after skipping its next bond payment this week could be out of money by November.

The city's receiver, William Lynch, said Tuesday his office is exploring the city's options to ensure operations continue through the end of the year.

Lynch's office said Tuesday the city will not make a $3 million payment on outstanding city bonds.

“When you're running out of cash you have to make difficult decisions on which bills to pay,” Lynch said.

Source: Patriot-News. Read full article. (link)

Editor's Note: We invite comments and request that they be civil and on-topic. We do not moderate or assume any responsibility for comments, which are owned by the readers who post them. Comments do not represent the views of Reason.com or Reason Foundation. We reserve the right to delete any comment for any reason at any time. Report abuses.