By Caitlin Devitt, includes "When Houston and Texas lawmakers forged the city's pension legislation last spring, their political calculus didn't include a once-in-a-century storm. ... Less traditionally, Houston will also borrow $1 billion of pension obligation bonds (POBs) and inject the cash into the Houston Municipal Employees Pension System and Houston Police Officers Pension System. ... Voters will consider the $1 billion POB referendum on 7 November."
Read the full article on: Forbes