Bloomberg
Houston's $100 Million Ballot-Box Fight Over Firefighter Raises
Prop B threatens to cast Houston into the company of “basket case” cities, said Matt Fabian, a partner with Municipal Market Analytics Inc. Unless the administration has a “reasonable and funded plan to pay for this,” bond investors have reason to worry about how well the city is being managed.
“Houston is a basket case lite,” Fabian said. The city “is on the radar of most investors, in the context of legacy liabilities. The fact that they sold pension bonds is a red flag.”