Keith M. Phaneuf / CTMirror.org file photo
House Majority Leader Matt Ritter, D-Hartford
Hartford would have to restructure its debt to get the state assistance needed to keep it out of bankruptcy, according to sources familiar with the tentative state budget deal.
But Connecticut also would guarantee a major refunding of the citys debt and cover a major share of the citys debt payments at least for this fiscal year and next.
Legislative leaders would not discuss specifics of the deal, but House Majority Leader Matt Ritter, D-Hartford, said it was part of a bipartisan compromise that recognized the need to avert bankruptcy.
This budget gives the city all of the tools it needs to be on a structural path to sustainability, said…
Read the full article at: https://ctmirror.org/2017/10/19/hartford-must-restructure-debt-to-get-state-help-to-avert-bankruptcy/