Shelly Sigo

In a financial mess that spans the Atlantic, Louisiana affiliates of a German wood pellet processing firm filed for Chapter 11 bankruptcy, potentially leaving bond investors on the hook for a project poised to receive millions in state incentives.

North Carolina Gov. Pat McCrory’s $2 billion “NC Connect” bond referendum won easily Tuesday, when Republican voters also nominated him for a second term.

The collapse of the Port St. Lucie, Fla.-based Vaccine and Gene Therapy Institute prompted Moody's Investors Service to review the city’s bond ratings for possible downgrade.

Louisiana selected underwriters Tuesday for a general obligation refunding of up to $600 million to patch a portion of the state’s massive deficit.

Jefferson County, Ala., said in a notice Monday it paid $5.37 million earlier this month to the Internal Revenue Service for investing some of its 2004 school warrants at interest rates higher than allowed by federal tax laws.

Georgia saw state revenues jump a whopping 24.9% in February, although state officials said Internal Revenue Service security breaches helped skew the results by delaying refunds.

If North Carolina voters allow the state to issue $2 billion of general obligation bonds it could signal a shift in sentiment about tax-backed debt issuance, according to Fitch Ratings.

Louisiana-based Adam and Reese LLP has promoted partner Tracy Averett Morganti to head the firm's public finance team.

House Bill 347 received final passage Thursday in the Florida senate allowing certain entities to issue securitized bonds to finance water and sewer projects.

For the first time in five years, Florida lawmakers have included bond financing for school projects in their proposed $82.35 billion budget for fiscal 2017.

After a special three-week session ended, Louisiana legislators remained $30 million shy of closing the current-year deficit and $800 million short for fiscal 2017.

Local and state government leaders are tapping sales taxes for new revenue to help close budget gaps, pay for infrastructure, fund pension liabilities, and finance basics such as teachers’ raises.

Louisiana Gov. John Bel Edwards said Monday that lawmakers had failed to make the budget cuts to close this year’s deficit.

The lack of progress in funding Kentucky’s pensions led Standard & Poor's Friday to cut the Kentucky Turnpike Authority’s bonds to AA-minus from AA ahead of a $216 million sale.

The trustee for Port St. Lucie, Fla.’s $64 million of bonds to finance the defunct Vaccine & Gene Therapy Institute questioned whether the city will honor its guarantee to pay debt service, although the city attorney said it will make good on the promise.

An investment banker hired as an expert witness in lawsuits challenging All Aboard Florida’s passenger train service said tax-exempt financing is critical to funding the $3.5 billion project, although the private company says that’s not true.

Veteran banker Gavin Murrey will work alongside Rob Baird, who is the current head of Public Finance/Debt Investment Banking at Raymond James.

A divided Louisiana Legislature has balked at some measures aimed at pulling the state out of a $940 million current-year deficit.

Florida lawmakers are close to an agreement that would establish a new bond financing program that allows certain municipal utilities to securitize customer charges.

The North Broward Hospital District in Florida saw Moody’s Investors Service drop its bond ratings three notches to Baa2 amid a severe decline in revenue and new probes into its operations.