Restructuring Puerto Rico's General Obligation Debt

2015 ◽  
Author(s):  
Antonio Pietrantoni
Keyword(s):  
General Obligation ◽  
General Obligation Debt

The Politics and Economics of the New City Debt

1986 ◽  
Vol 80 (4) ◽  
pp. 1271-1288 ◽  
Author(s):  
Elaine B. Sharp
Keyword(s):  
Intergovernmental Relations ◽  
Regional Differentiation ◽  
Tax Revenue ◽  
Revenue Sources ◽  
General Obligation ◽  
Form Of Government ◽  
Advisory Commission ◽  
New City ◽  
Legal Constraints ◽  
General Obligation Debt

This paper contrasts nonguaranteed city debt with taxation and general obligation debt. Drawing upon Bureau of the Census, Advisory Commission on Intergovernmental Relations (ACIR) and Municipal Year Book data, the analysis shows that both per capita tax revenue and outstanding general obligation debt are best explained by background factors such as total population, functional scope, and region, while fiscal strain plays a secondary role. Political structures, in the shape of legal constraints on taxation and debt and of form of government, do not account for patterns of these traditional revenue sources. By contrast, nonguaranteed debt is best explained by a model in which fiscal strain has a paramount role, but with both legal constraints on taxing and regional differentiation contributing significantly to the explanation, at least for data collected prior to 1978. The findings suggest a two-tiered model of the revenue side of fiscal decision making, with historical accommodations to powerful economic and demographic factors dominating taxing and general obligation debt, while nonguaranteed debt serves as a flexible instrument of shorter-term strategy.

The Determinants of Municipal Debt Policy: A Pooled Time-Series Analysis

1998 ◽  
Vol 16 (2) ◽  
pp. 211-224 ◽  
Author(s):  
R A Cropf ◽  
G D Wendel
Keyword(s):  
Time Series ◽  
Time Series Regression ◽  
General Obligation ◽  
Local Officials ◽  
Municipal Debt ◽  
General Obligation Debt ◽  
Pooled Time Series ◽  
The Impact ◽  
Us Cities ◽  
Debt Policy

Cities have started to rely more on debt in recent decades, in large part in response to changes occurring externally. In this paper the authors analyze the impact of important social, political, and economic factors on municipal debt behavior. They examine the 42 largest US cities from 1980 to 1990, using a pooled time-series regression model. It was found that, generally speaking, these factors had the effect of increasing cities' reliance on revenue debt, which is less accountable to the voters than full-faith and credit debt. It is difficult to say whether local officials have consciously pursued a policy of insulating municipal debt decisions from the voters. However, it is clear that these officials are responding to environmental cues that lead them to prefer revenue debt over general-obligation debt by a large margin. Recent research has shown that cities have historically pursued a ‘politics of circumvention’. With the demand for debt increasing as other means for financing local services are constrained the effects on the polity of these preferences warrant serious attention.

State General Obligation Bond Credit Ratings

1978 ◽  
Vol 9 (3) ◽  
pp. 29-35 ◽  
Author(s):  
JEROME S. OSTERYOUNG ◽  
DALLAS R. BLEVINS
Keyword(s):  
Credit Ratings ◽  
General Obligation ◽  
General Obligation Bond

Protection of the Marine Environment

2021 ◽  
Vol 9 (2) ◽  
pp. 196-211
Author(s):  
Margaret A. Young
Keyword(s):  
Marine Environment ◽  
Marine Protected Areas ◽  
Dispute Settlement ◽  
Trade Agreements ◽  
Marine Litter ◽  
Multilateral Trade ◽  
General Obligation ◽  
United Nations Convention ◽  
The Impact ◽  
Trade Measures

Abstract The general obligation to protect and preserve the marine environment is contained in the United Nations Convention on the Law of the Sea (UNCLOS). Increasingly, marine issues are addressed in regional or multilateral trade agreements, including the covered agreements of the World Trade Organization (WTO). This article examines selected legal developments, such as provisions in regional trade agreements on marine capture fisheries, marine litter and waste management infrastructure. Rules on the use of trade measures to eliminate harmful fishing practices, and the prohibition of certain subsidies, are also explored. The article calls for attention to the impact of these developments on dispute settlement between states under UNCLOS, support for marine protected areas, and the capacity for regime interaction between relevant bodies. These issues have relevance for the conservation of marine living resources as well as other issues relating to the protection of the marine environment, including marine plastics and climate change.

13. Peaceful Settlement of International Disputes

2020 ◽  
pp. 276-293
Author(s):  
Paola Gaeta ◽  
Jorge E. Viñuales ◽  
Salvatore Zappalà
Keyword(s):  
International Law ◽  
Peaceful Settlement ◽  
General Obligation ◽  
Settlement Of Disputes ◽  
Flexible Mechanisms

The general obligation of peaceful settlement of disputes complementing the general ban on the use or threat of force prompted States to revitalize and strengthen the traditional means for settling disputes and establish innovative and flexible mechanisms for preventing disputes or, more generally, inducing compliance with international law. This chapter discusses the so-called diplomatic mechanisms for promoting agreement between disputants, the so-called judicial means (arbitration and adjudication), and the interplay between them. The chapter further examines the establishment of more flexible mechanisms for either preventing or settling disputes, in particular non-compliance and supervisory procedures.

scholarly journals Municipal Bond Ratings: Are They Worthwhile for Rural Governments?

1982 ◽  
Vol 11 (1) ◽  
pp. 67-73
Author(s):  
Patrick J. Sullivan
Keyword(s):  
Credit Ratings ◽  
Municipal Bond ◽  
Bond Ratings ◽  
General Obligation Bonds ◽  
General Obligation

Rural governments in the Northeast purchased credit ratinqs for a high percentage of their general obligation bonds sold in 1977. This paper examines the effect credit ratings had on the interest cost of GO bonds sold by nonmetro governments in the Northeast. The results suggest that the decision to purchase a rating may be a costly error under certain circumstances.

General obligation to supreme love to God.

2012 ◽  
pp. 152-164
Author(s):  
Francis Wayland
Keyword(s):  
General Obligation
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