Shelly Sigo

BRADENTON, Fla. — The nonprofit Raymond F. Kravis Center for the Performing Arts Inc. in Palm Beach County, Fla., has paid $320,000 to the Internal Revenue Service to settle a violation of the Internal Revenue Code’s 5% limit on private use in a bond-financed facility.

BRADENTON, Fla. — Birmingham, Ala., plans to use recovery zone economic development bonds in a “creative” way, according to city officials.

BRADENTON, Fla. — When Moody’s Investors Service ­released its first round of rating recalibrations for states Monday, Florida failed in its “gilt-edged” quest to win triple-A scores from all three major rating agencies.

BRADENTON, Fla. — The Securities and Exchange Commission has opened an investigation into an $83.3 million bond deal that Miami-Dade County sold last year on behalf of the county’s financially ailing Public Health Trust.

Mississippi Gov. Haley Barbour last week revised his executive budget for fiscal 2011 and cut most agency budgets between 12% and 17% from current levels.

Florida’s seasonally adjusted unemployment rate for March was 12.3%, up from February’s rate of 12.2%, and the highest on record since 1970.

Alabama Gov. Bob Riley Tuesday signed a bill placing strict requirements on Jefferson County’s issuance of debt and use of swaps. He said the law would “usher in a new era of transparency and accountability for Jefferson County.”

The Jefferson County Commission Tuesday voted to submit a petition to the U.S. attorney general’s office in Alabama seeking the “criminal forfeiture” of $1.61 million to the county in connection with the federal corruption case of former county commissioner Larry Langford, lobbyist Al LaPierre and Montgomery bond dealer Bill Blount.

BRADENTON, Fla. — The Atlanta City Council on Monday formally adopted a five-year budget stabilization planning process to eliminate deficits in certain funds, examine options to reduce unfunded pension benefits, and fix aging infrastructure with planned long-term bond issues.

BRADENTON, Fla. — Kentucky ended its annual legislative session Thursday night without passing a budget for the biennium, which begins July 1. The state is facing a $1.5 billion shortfall over the next two years.

BRADENTON, Fla. — Standard & Poor’s on Wednesday chopped the underlying rating on Orlando, Fla.’s contract tourist development tax bonds to junk, to levels below where other rating agencies recently have cut the credit.

BRADENTON, Fla. — State officials this week gave the Florida Hurricane Catastrophe Fund Finance Corp. the go-ahead to sell up to $710 million of tax-exempt revenue bonds for storm-related losses that occurred in 2005.

Gov. Sonny Perdue Tuesday announced that he appointed a special attorney general, who will work for free, to direct Georgia’s participation in challenging the federal health care legislation recently passed by Congress.

Florida lawmakers last week cleared a measure that places a statewide referendum on the November ballot asking voters to make changes in the restrictive class-size amendment that has cost the state and local school districts billions to implement through construction of new schools and operational costs.

Alabama state senators Tuesday passed a bill that originated in the House placing strict requirements on Jefferson County’s issuance of debt and use of swaps. The measure is now on its way to Gov. Bob Riley.

BRADENTON, Fla. — Florida’s ­Citizens Property Insurance Corp. last week closed on a $2.4 billion bond sale to have liquidity on hand in case a hurricane strikes the state during the upcoming storm season, which starts June 1.

Moody's Investors Service last week became the second national rating agency to place a negative outlook on Miami's debt because of the city's weakened financial position.

Moody's Investors Service Wednesday joined Fitch Ratings and dropped its underlying rating on Orlando, Fla.'s highly leveraged tourist-tax revenue bonds into junk territory, while Standard & Poor's placed the rating on negative watch.

BRADENTON, Fla. — The Metropolitan Government of Nashville and Davidson County Convention Center Authority plans to move forward with a $633.3 million deal next week to finance the construction of a new facility called the Music City Center.

Gov. Haley Barbour has signed the Mississippi School District Emergency Bridge Loan Act, which may be seeded with bond proceeds.