Hartford gets a bailout. What now?
The city of Hartford will meet the deadline for its next loan payment of $12 million thanks to a bailout from the state. The total agreement between the city and state is expected to settle Hartford’s general obligation debt of $550 million over at least the next two decades.
This will keep the city out of bankruptcy, however, state lawmakers are threatening to reduce other city funding after claiming to have misunderstood the terms of the agreement. “We believe the Contract violate
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