Shelly Sigo

The potential ouster of the Jefferson County, Ala., sewer system's receiver in connection with the county's bankruptcy case could derail the long-held legal precedent that bonds secured by a specific pledge of revenues will continue to be paid during a Chapter 9 proceeding, according to creditors and industry participants.

Officials in Memphis are considering offering incentives to keep the headquarters of Morgan Keegan & Co., and its jobs, in the city if the firm is sold, according to the Commercial Appeal newspaper.

The troubled Clay County Gas Utility District has notified the bond market that, due to a lack of funds, it was unable to make Dec. 1 principal and interest payments on its Series 1998 bonds.

The Orlando-Orange County Expressway Authority last week hired an interim executive director who currently works for a consulting firm that has contracts with the agency.

Former JPMorgan banker Douglas MacFaddin and the Securities and Exchange Commission are seeking court sanctions against former Jefferson County commissioner Shelia Smoot for failing to appear for depositions and produce documents on several occasions.

BRADENTON, Fla. — Even with debt issuance by Florida at a historic low this fiscal year, the state continues to exceed its self-imposed debt service cap as revenues remain weak.

BRADENTON, Fla. - The Securities and Exchange Commission has opened what appears to be a sweeping investigation into the new, largely bond-financed stadium for Major League Baseball's Miami Marlins.

BRADENTON, Fla. — Fitch Ratings on Friday revised the outlook to negative on three major U.S. airports in the wake of the Chapter 11 filing by American Airlines and its affiliate, American Eagle.

BRADENTON, Fla. — The Santa Rosa Bay Bridge Authority's bond trustee, Bank of New York Mellon, has hired a financial advisor to assist with restructuring the Florida authority's defaulted bonds.

BRADENTON, Fla. — DeKalb County, Ga., next week plans to price $380 million of water and sewer revenue bonds in the first of several deals that will finance portions of its $1.34 billion, five-year capital improvement program.

Standard & Poor's on Tuesday lowered a portion of the Tennessee Valley Authority's debt to AA-minus from AA-plus because the authority is less likely to receive support from the federal government in times of distress, the rating agency said.

The City Council of cash-strapped Miami learned recently that it may be forced to pay property taxes on four parking garages nearing completion to service the Marlins' new baseball stadium, according to the Miami Herald.

In a recent report affirming the Birmingham Airport Authority's A-minus rating, Fitch Ratings said that it would be evaluating the potential effects of surrounding Jefferson County's bankruptcy filing.

BRADENTON, Fla. — The federal judge in Jefferson County's bankruptcy case on Monday struck down two arguments by the receiver in charge of the Alabama county's sewer system supporting the contention that the receiver should remain in place.

BRADENTON, Fla. - Standard & Poor's has reinstated its AA-minus rating on DeKalb County, Ga.'s senior water and sewer bonds as the county in suburban Atlanta prepares a nearly $400 million utility system deal.

BRADENTON, Fla. - A newly appointed member of northwest Florida's Santa Rosa Bay Bridge Authority has filed a complaint with the Securities and Exchange Commission, citing what he calls trading irregularities in some of the agency's $116 million of defaulted bonds.

BRADENTON, Fla. - The federal judge assigned to Jefferson County, Ala.'s bankruptcy case Tuesday gave attorneys additional time to file briefs concerning how much control the receiver of the county's sewer system is entitled to retain.

BRADENTON, Fla. - The federal judge in Jefferson County's bankruptcy said Monday that he is inclined not to remove the Alabama state court-appointed receiver of the county's sewer system, though he is expected to decide whether to limit the receiver's rate-setting powers.

BRADENTON, Fla. - Federal bankruptcy Judge Thomas Bennett on Monday will hear the first major arguments in Jefferson County's massive bankruptcy case to determine if a receiver should remain in charge of the county's sewer system.

Gilt-edged Georgia in October experienced its 16th consecutive month of growth in tax collections.