Shelly Sigo

The Tennessee State School Bond Authority has closed on a $437.7 million bond deal that will save the state $27.8 million while financing projects at colleges and universities.

Moody's Investors Service changed the rating outlook to positive from stable on the Metropolitan Nashville Airport Authority's $197 million of A2-rated bonds. Moody's also upgraded the authority's $63 million of rental car facility bonds to A3 from Baa1.

The Kentucky Transportation Cabinet has issued the final guidelines that three teams will use to develop proposals for building the state's half of the $2.6 billion Ohio River Bridges Project.

The Tampa Bay Rays will begin talks with Hillsborough and Pinellas counties about the team's future on Florida's west coast. Those discussions could include moving the team from its current homebase in St. Petersburg.

Former Alabama Gov. Don Siegelman was re-sentenced last week to 78 months in prison for bribery, conspiracy, fraud and obstruction of justice. Siegleman was convicted of selling a seat on a state health panel in return for donations to a failed state lottery initiative.

The Birmingham, Ala., City Council Tuesday delayed making a decision on asking voters for $150 million of general obligation bonds. The council will decide whether to schedule the Oct. 9 referendum in another meeting.

Jefferson County, Ala.'s bankruptcy judge Wednesday will hear arguments about setting a deadline for the county to propose a plan of adjustment, and will consider a Birmingham group's claim for $1.63 billion.

The nine Georgia regions encompassing 113 counties could face additional funding pressure due to rejection of transportation sales tax, according to Moody's.

Drought-stricken Georgia has approved the first round of projects financed with state-issued bonds that will help build reservoirs and other drinking water projects.

South Florida's Miami-Dade County School Board has agreed to ask voters to approve a $1.2 billion bond issue. The nation's fourth-largest school district wants to make systemwide infrastructure improvements and upgrade technology.

Jackson Securities LLC is being spun off by Atlanta Life Financial Group. Subject to regulatory approval, Jackson will merge with New York-based M.R. Beal & Co.

Fort Lauderdale is thinking about selling about $300 million of pension obligation bonds. While some people think they are too risky, bond market experts say taxable rates are at historic lows and that POBs could actually bring discipline to the city's finances.

Virginia announced Monday that it expects to end fiscal 2012 with a $129.2 million surplus, the third consecutive year the state showed such growth.

Voters in nine of 12 districts in Georgia Tuesday rejected raising the sales tax by 1% to pay for billions in transportation improvements. In the 11-county Atlanta region, among the most congested in the state, 62.6% of voters said no.

Two high-profile local governmental entities in Florida last week agreed to accept settlements as part of the $65.5 million multi-state agreement over JPMorgan's alleged bid-rigging actions with regard to derivatives.

Jefferson County, Ala., has hired George Tablack as its new CFO.

A trustee and an insurer for Jefferson County's defaulted general obligation warrants Tuesday objected to a motion asking the federal judge overseeing the bankruptcy case to set a deadline for the county to file a plan of adjustment for its debts.

Alabama Gov. Robert Bentley Monday added another $78.3 million in road and bridge projects to $138.5 million already approved as part of the state's largest-ever transportation funding program. The projects are part of a $650 million program to be financed with grant anticipation revenue vehicle bonds.

Voters across Georgia head to the polls Tuesday to decide whether to raise the sales tax by 1% over the next decade to pay for transportation projects. The tax will raise more than $18 billion over 10 years.

The Southeast's largest public water and sewer system needs $1.1 billion in repairs, according to a report to the Miami-Dade, Fla., County Commission this week.