Shelly Sigo

Jefferson County, Ala., filed for an emergency motion Friday to lift the automatic stay in its bankruptcy case so a trustee can use reserves to pay debt service on the county's 2006 lease-revenue warrants.

Jefferson County, Ala.'s decision to skip general obligation warrant payments is yet another example of a troubling trend in municipal finance — the unwillingness to pay debts even when funds are available, observers said.

BRADENTON, Fla. — A proposed tax-credit program designed to raise money for the Florida Hurricane Catastrophe Fund, and reduce its reliance on the bond market, is raising eyebrows and questions.

Standard & Poor’s last week revised the outlook to stable from negative on Atlanta’s general obligation debt and appropriation-backed bonds issued on behalf of the city by various issuers.

Broward County, Fla., inspector general John Scott said Monday that top employees in the city of Lauderdale Lakes “have grossly mismanaged public funds entrusted to its care.”

The Birmingham City Council Tuesday approved a resolution urging Jefferson County’s legislative delegation to reinstate an occupational tax or give the county limited home rule.

Jefferson County, Ala., said Wednesday that it will no longer make payments on its general obligation warrants.

BRADENTON, Fla. — The PFM Group has acquired Huntsville, Ala.-based Public FA Inc. as part of the firm's ongoing effort to expand in the Southeast and add new sectors to its coverage areas.

Alabama Gov. Robert Bentley is seeking transportation proposals that will be funded with the first round of financing from $600 million to $650 million of grant anticipation revenue vehicle bonds the state intends to sell.

BRADENTON, Fla. — Florida-based Raymond James Financial Inc. on Wednesday priced $250 million of corporate corporate notes as the third round of financing toward $930 million being paid to acquire Morgan Keegan & Co. and MK Holding Inc.

BRADENTON, Fla. — Miami officials have been told that civil charges may be brought against the city for failing to disclose serious budget problems in recent bond offerings.

The Florida Legislature's fiscal 2013 budget taps reserves of the state's 11 public universities to help balance the state budget — "a clear credit negative" for the schools, according to Moody's Investors Service.

Moody’s Investors Service on Monday downgraded to B3 from Ba3 the long-term rating assigned to Weirton Medical Center in West Virginia.

Eight creditors holding various claims related to Jefferson County, Ala.’s defaulted sewer debt filed notices late Monday saying that they want to appeal the county’s eligibility to file a Chapter 9 bankruptcy petition.

BRADENTON, Fla. — The Orlando-Orange County Expressway Authority in central Florida is extending the call date on all or a portion of $185.8 million of term bonds at the request of Citi.

Municipalities are borrowing more money directly from banks that are competing to offer favorable rates and terms.

Given concerns about the economy, experts do not expect municipal bond volume to increase significantly this year following last year's slow pace of sales.

Jacksonville officials hope to net big savings next week when they price $557.5 million of refunding bonds.

The Clay County, Tenn., Gas Utility District has again extended and modified its tender offer.

Georgia’s net tax collections for February were $765 million, an increase of nearly $50 million, or 7%, compared to a year ago.