Buried under layers of politicking, the General Assembly's vote not to override Governor Malloy's veto of restrictions on Hartford's bailout could seem anticlimactic. Another thing not done. Rather, it's the signal the financial sector has been awaiting: that the capital of Connecticut now has the means — and had better have the will — to pay off its debt and build a sustainable future.

On Monday, three of Connecticut's major corporations announced they were fulfilling the first installment of a five-year pledge to collectively contribute $10 million per year in support of the city's budget for law enforcement, recreation and the Hartford Public Library.

Travelers, Aetna and the Hartford Financial Service group, all based in Hartford for decades, said their pledge reflects what the city's fiscal stability means to their employees and is made out of a commitment to Mayor Luke Bronin's multi-decade fiscal plan. They made it clear they would be watching closely for the promised reforms.

The three represent the private aspect of a mostly publicly funded plan. The state signed a contract with the city earlier this year to pay off about $534 million in obligations, plus interest. State funding will be about $40 million annually for up to 20 or 30 years. The corporate support comes to about 25 percent of the state commitment for the first five years, and what may or may not be a renewable pledge after that.

In special session June 25, a Republican measure to override the Malloy veto failed to get enough votes. The vetoed bill would have curtailed the state's long-term commitment by allowing future legislatures to budget less in general aid for Hartford, effectively offsetting the amount going to debt service.

While the math sounds good for state spending, months of discussion during the regular legislative session had shown that the bond ratings services, particularly Moody's, considered the long-term commitment to be evidence of the state's and the city's seriousness about fiscal stability. The effort to take away with one hand what was promised in the other wasn't going to fool the financial sector, and it would have sent a terrible message about Connecticut's dealings.

We like the public-private handshake that this week's contribution confers on the city. It's far-sighted on the part of the corporations as well as a responsible giveback by companies well accustomed to making major donations to hospitals, arts, culture and sporting events. This will somewhat ease Hartford's budgetary burden in hosting many of Connecticut's high-profile, tax-exempt non-profits.

Now it's up to Bronin and the Hartford team to bring the city's business practices up to 21st-century standards, to actively recruit new employers and to guard against any corrupt or lackadaisical habits that may linger from past administrations. Early successes should be used to inspire more partnering, and a goal should be to lower the amount the state will ultimately have to pay off.

Everyone is watching — and hoping.

The Day editorial board meets with political, business and community leaders to formulate editorial viewpoints. It is composed of President and Publisher Timothy Dwyer, Executive Editor Izaskun E. Larraneta, Owen Poole, copy editor, and Lisa McGinley, retired deputy managing editor. The board operates independently from The Day newsroom.