N.J. Gov. Murphy Administration Taps I-Bank to Help Ensure Fiscal Stability of New Jersey Municipalities in Response to COVID-19
April 23, 2020
April 23, 2020
TRENTON, New Jersey, April 23 -- Gov. Phil Murphy, D-New Jersey, issued the following news release on April 21:
In response to growing concerns about financial market disruptions on local governments, the Murphy Administration and the New Jersey Infrastructure Bank (I-Bank) have implemented a backstop municipal bond note program. I-Bank's $50 million liquidity investment, which is designed to help mitigate financial impacts to municipalities during the coronavirus state of emergency . . .
In response to growing concerns about financial market disruptions on local governments, the Murphy Administration and the New Jersey Infrastructure Bank (I-Bank) have implemented a backstop municipal bond note program. I-Bank's $50 million liquidity investment, which is designed to help mitigate financial impacts to municipalities during the coronavirus state of emergency . . .