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MAYOR BRONIN STATEMENT ON MOODY’S UPGRADE

MAYOR BRONIN STATEMENT ON MOODY’S UPGRADE

HARTFORD, CONN (April 5, 2018) – Mayor Luke Bronin issued the statement below after Moody’s Investors Service upgraded the rating on the City of Hartford's general obligation bonds thirteen notches, from Caa3 to A2.

“Today’s dramatic ratings upgrade underscores the importance of the comprehensive work we’ve done to put the City of Hartford on a sustainable path, through deep and difficult cuts, significant labor savings, the engagement of our business community, and through a new partnership with the State of Connecticut,” said Mayor Bronin.  “Over the past two years, we’ve made tens of millions of dollars in spending cuts, negotiated significant savings and structural changes with our labor unions, brought our big employers to the table, and worked with legislators of both parties to build a new partnership with the State, recognizing that half of Hartford’s property is non-taxable and that you cannot run a city on the tax base of a suburb.  The new partnership with the State of Connecticut was the last, essential piece of our effort to stabilize Hartford’s finances — in an honest, transparent, and comprehensive way. Maintaining future stability depends on continued discipline, continued partnership with the State, and most of all on achieving real economic growth in the years ahead.  But today, Moody’s responded to our collective efforts with an important and welcome vote of confidence.”

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HARTFORD CHURCHES TO RING BELLS IN HONOR OF DR. KING

HARTFORD CHURCHES TO RING BELLS IN HONOR OF DR. KING

HARTFORD, CONN (April 4, 2018) – In honor of Dr. Martin Luther King, Jr., six Hartford churches will ring their bells for one minute at 7:01 PM EST this evening, the approximate time Dr. King was shot on April 4, 1968.  Faith Congregational Church, Asylum Hill Congregational Church, Church of the Good Shepherd, St. Lawrence O’Toole Church, Emanuel Lutheran Church, and Trinity Episcopal Church will be participating.

“Fifty years after Dr. King’s death, his battles against poverty and segregation and for access to education, healthcare, and economic opportunity are still our battles, and they are as urgent today as they were then,” said Mayor Bronin.  “This isn’t just a day to honor a great American or to remember the fights of the past, it’s a day to rededicate ourselves to all the work we still have to do right now, right here.  The arc of the moral universe may bend toward justice, but only because brave leaders like Dr. King bend it – and only if we all lend our own hands to that work.”

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MAYOR BRONIN RESPONDS TO LEGISLATIVE LEADERS

MAYOR BRONIN RESPONDS TO LEGISLATIVE LEADERS

HARTFORD, CONN. (March 28, 2018) – Mayor Luke Bronin issued the statement below in response to late afternoon letters from legislative leaders expressing concern about the State’s contract assistance agreement with the City of Hartford.  Last September, Mayor Bronin and City leadership sent a letter to State leaders explicitly warning against giving Hartford “just enough additional assistance to avoid short-term liquidity problems.”  Mayor Bronin said choosing that path “would avoid hard decisions or embarrassing outcomes for now,” but would “lead to decline, future fiscal crisis, and to continuing insolvency.” That appears to be what Republican leaders are calling for. 

  

"Last fall, I was fully prepared to seek authority to file bankruptcy, and legislators of both parties chose instead to build a new long-term partnership with the Capital City," said Mayor Bronin.  “The state's assistance came only after we made deep cuts, negotiated dramatic labor concessions, partnered with our biggest companies, and subjected the city of Hartford to intense and ongoing oversight. If Republican leaders regret the long-term partnership they embraced last fall, they should have the courage to call for our Capital City to file bankruptcy, because that's the only responsible long-term alternative to the partnership they supported last fall." 

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