Alabama

The Internal Revenue Service’s tax-exempt bond office has told Mobile, Ala., that the general obligation refunding and improvement warrants it issued in 2006 are probably taxable.

An attorney for Jefferson County, Ala., has asked an appellate court to consider the analysis of a federal judge who dismissed the final appeal in Detroit’s bankruptcy case.

The Securities and Exchange Commission said Monday that it reached an undisclosed settlement with two ex-JPMorgan bankers involved in Jefferson County, Ala.’s sewer deals.

As Jefferson County, Ala., defends its bankruptcy plan, the county must also clear new legal hurdles in order to return to the bond market later this year.

The Alabama Legislature late Wednesday approved a state budget for the fiscal year that begins Oct. 1 after making structural changes aimed at stabilizing the general fund.

A group of Jefferson County, Ala., residents told an appellate court they were denied constitutional protections in the rush to end the county’s “large and complicated” Chapter 9 bankruptcy in 2013.

As the Alabama Legislature resumed work on the state budget due Oct. 1, Standard & Poor's warned that a structurally balanced plan is necessary to maintain the state’s AA general obligation bond rating.

The National Association of Bond Lawyers has updated its bankruptcy guide for members with new information drawn from the relatively high number of municipal bankruptcy filings in the last few years.

Issuers in the Southeast sold $41.56 billion of bonds in the first half of 2015, an 85% increase in year-over-year volume fueled by refundings and a slight uptick in new-money sales.

Alabama Gov. Robert Bentley told community and business leaders that state legislators have failed to act like leaders and resolve the state’s budget crisis.

The Alabama Legislature failed to reach agreement on a general fund budget for fiscal 2016, necessitating a second special session.

The Alabama Legislature and Gov. Robert Bentley remain far apart on an operating budget with less than a month to go before the new fiscal year begins.

Within hours of the Obama Administration's release of the final Clean Power Plan on Monday, opponents vowed to take legal action to block the rule while others hailed the measure.

Moody's Investors Service downgraded the University of West Alabama's bonds to A3 from A2 citing weak financial performance and declining enrollment.

An Alabama group wants to explain why it is suing to stop new revenue from flowing to cash-strapped Jefferson County, which emerged from bankruptcy 19 months ago.

Jefferson County, Ala., residents appealing the county’s bankruptcy settlement are challenging a state law designed to provide the cash-strapped county with new revenue for capital.

This month's $18.7 billion agreement with BP p.l.c. positions struggling Gulf coast states to receive financial relief, though the years-long payout won't provide immediate respite for some.

Conditions in Jefferson County, Ala. are improving after its bankruptcy exit and the county is preparing for its first municipal bond market appearance since its 2013 exit from bankruptcy, said County Commission President Jimmie Stephens.

A federal judge in Alabama has ordered mediation in the Securities and Exchange Commission’s pay-to-play suit against two ex-JPMorgan bankers involved in Jefferson County sewer deals.

Investors in the financing that enabled Jefferson County to exit bankruptcy should not have the “rug pulled out from under them,” the county’s attorneys argued to the 11th Circuit Court of Appeals.