Harrisburg, Penn., May Run Out of Money by November
Will miss $3 million bond payment
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.
Hide Comments (0)
Editor's Note: As of February 29, 2024, commenting privileges on reason.com posts are limited to Reason Plus subscribers. Past commenters are grandfathered in for a temporary period. Subscribe here to preserve your ability to comment. Your Reason Plus subscription also gives you an ad-free version of reason.com, along with full access to the digital edition and archives of Reason magazine. We request that comments 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 and ban commenters for any reason at any time. Comments may only be edited within 5 minutes of posting. Report abuses.
Please
to post commentsMute this user?
Ban this user?
Un-ban this user?
Nuke this user?
Un-nuke this user?
Flag this comment?
Un-flag this comment?