ACT 79

Oct 20 SB 1151 Municipalities Financial Recovery Act

Act 79 The Forgotten Taxpayer Is Forced to Bail Out Billionaire Bond Holders - Lobbyists Win TIER 3 AGAINST LIBERTY ALL MEMBERS This bill has good and bad aspects and there are valid reasons to vote yea or nay. ALL MEMBERS will have 50 points deducted from the grade.

This bill protects Harrisburg Incinerator Bond Holders to be given preference over taxpayers of Harrisburg. Despite general language, this bill for purpose of allowing Governor and General Assembly to take control of Harrisburgs finances rather than bankruptcy court. SEE Pennsylvania Plan for Harrisburg WSJ 7 February 2012 This relates to Harrisburgs bankruptcy and insolvency and, in particular, the incinerator bond. 1) Bond Insurers Hired Lobbyists as Lawmakers Argued Over Harrisburgs Fate By Romy Varghese Bloomberg Dec 19, 2011 Assured Guaranty Municipal (AGO), which backed the debt driving Harrisburg, Pennsylvania, into insolvency, faced the prospect of forced losses in a bankruptcy, so it invested in its future. READ MORE 2) Debt-ridden Harrisburg was outgunned at Capitol by top lobbyist for bond insurer Tuesday, Patriot-News December 20, 2011

HOUSE FISCAL NOTE This legislation would give the Governor the authority to declare a fiscal emergency in a distressed city that is unwilling to accept or adopt a solvency plan, is insolvent, or projected to be insolvent in 180 days or cannot ensure provision of vital and necessary services for its citizens. Once the governor declares the fiscal emergency, he may direct the Secretary of the Department of Community and Economic Development to file a petition in Commonwealth Court to appoint the individual named in the petition as a receiver for the distressed city. House Fiscal Note:

Municipalities Financial Recovery Revolving Aid Fund City of Harrisburg Funds

$500,000

$500,000

$575,000 - $775,000

$575,000 - $775,000

John McNally and The Web of the Harrisburg Insiders Network Getting Rich from Bad Government

John McNally Bonds With Harrisburg Network Insiders Stan Rapp, Commissioners Jeff Haste, Mike Pries, Bond Counsel Anthony Giorgione, Esq DA Ed Marisco Trashing The Forgotten Taxpayer In the dark the Spiders build their web.Harrisburg Bondholders Win; The Forgotten Taxpayers Lose. The Forgotten Taxpayer Sold Out by Republican Party Insiders.

The Harrisburg home of attorney Andy Giorgione, Esq. who made a lot of money handling many of Harrisburgs unsecured bond issues, which are now bankrupting Harrisburg. Note whose sign is in his front yard..... John McNallys Fundraising Invitation includes a Whos Who of Harrisburg Insiders profiting from politics.
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Jeff Haste and Mike Pries Dauphin County Commissioners; Jeff Haste is, also, Chairman of Dauphin County Republican Committee,

DA Ed Marisco

Stan Rapp and Greenlee Partners A.J. Marisco, Jr. Esq.

Harrisburg City Voters and Dauphin County got themselves into this mess; they have the personal responsibility to get themselves out by voting for State Senator Independent of Party Leadership and the Harrisburg Incestuous Insider Network of those connected to the elected getting rich from government and exploiting The Forgotten Taxpayer Harrisburg, a capital city of 49,500 where 29 percent live in poverty, has no lobbyist. Who Will Speak for the Forgotten Taxpayer? Independence of Party Leadership is the sine qua non qualification for Dauphin County State Senator. David Unkovic Names Names and Uncovering the Network of Incestuous Insiders bonded to Republican Establishment Endorsed Insider Senatorial Candidate John McNally, former chair of Dauphin County Republicans, reliable and long time supporter not only of retiring Senator Jeff Piccola but also of Gov. Tom Corbett inextricably entwined and entangled with this Spider Web of Insiders: Bondholders Win; Taxpayers Lose.

Harrisburg Receiver David Unkovic named names in public the day he resigned, and several of them appear on this fundraiser invitation: Stan Rapp and Greenlee Partners, and Jeff Haste as retiring Senator Jeff Piccola and Governor Tom Corbett, Representative Ron Buxton and Assured Guaranty Municipal (AGM) itself. PA Department of Community and Economic Development (DCED) the Royal Bank of Canadas James Losty, Stephen Reed. The Attorney who handled the unsecured bonds, Andy Giorgione, and former Dauphin County commissioner Nick DiFrancesco are not The Forgotten Taxpayers BFF, either.

March 28, 2912 Tara Leo Auchley TodaystheDay blog U.S. Probe Urged for Harrisburg The Bond Buyer Monday, January 23, 2012 Paul Burton Watching Harrisburg Crash and Burn Reuters April 3, 2012 Cate Long Pennsylvania Plan for Harrisburg WSJ 7 February 2012 Debt-ridden Harrisburg was outgunned at Capitol by top lobbyist for bond insurer Tuesday, Patriot-News Editorial December 20, 2011 Bond Insurers Hired Lobbyists as Lawmakers Argued Over Harrisburgs Fate By Romy Varghese Bloomberg Dec 19, 2011 133-page Forensic Audit Report (PDF) Harrisburg Authority releases findings of incinerator forensic audit in 133-page report January 18, 2012 By ERIC VERONIKIS, The Patriot-News Harrisburg Receiver Weighs Sale, Lease of City Assets Friday, March 2, 2012 City of Harrisburg could go bankrupt after all: Friday, March 2, 2012 Joseph DiStefano PhillyDeals Philadelphia Inquirer "Harrisburgs debt could reach about $450 million, including the potential $40 million of guaranteed and unfunded debt coming due beginning in 2016 for bonds related to the Strawberry Square downtown mall. The city is the guarantor of those bonds, issued by the Harrisburg Redevelopment Authority, as it is on the incinerator bonds issued by the Harrisburg Authority" that are the biggest cause of Harrisburg's insolvency.

Union Republicans The Union Party Group of Pa. Republicans wields power in key votesApril 15, 2012 By Tom Barnes / Pittsburgh Post-Gazette Some in Pennsylvania GOP seem to back Sen. Bob Casey quietly Published: Robert Vickers April 15, 2012,
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Andrew Giorgione, Esq. is a former acting city solicitor for the City of Harrisburg, where he was

responsible for supervising and representing the city in many actions in federal and state court and administrative forums. During his tenure with the city, from 1992 through 1995, Andrew served as solicitor and chief legal advisor to the mayor, City Council and various boards and commissions.