Alabama

A firm associated with a former JPMorgan banker being pursued in a Securities and Exchange Commission civil case for alleged pay-to-play charges involving Jefferson County, Ala., was fired on Christmas Eve from a pension consulting job in Florida after Charles LeCroy's legal problems came to light.

Alabama federal Judge Keith Watkins accepted a settlement Monday ending a two-year-old lawsuit involving swaptions between the Alabama Public School and College Authority and JPMorgan.

BRADENTON, Fla. — After struggling against Alabama Democrats much of his eight years in office, outgoing Republican Gov. Bob Riley finally won passage of bills strengthening ethics and curbing corruption among politicians in the state.

The Alabama Supreme Court ruled Tuesday that Jefferson County can continue to collect an occupational and business license tax while appealing a lower court decision that it's unconstitutional.

BRADENTON, Fla. — Cullman ­Regional Medical Center in Alabama, has had its ratings dropped to below investment grade by Fitch Ratings and Moody’s Investors Service about a year after refinancing all its bonds.

An Alabama circuit court judge last week ruled unconstitutional an occupational and business license tax that provides a major source of income for Jefferson County's general fund budget. Commissioners are appealing the decision, the Birmingham News reported.

Outgoing Alabama Gov. Bob Riley has called a special session of the Legislature to deal with ethics reform that he has sought, but failed to pass, during his eight years in office when Democrats were in the majority.

BRADENTON, Fla. — The Birmingham Airport Authority, which operates the largest airport in Alabama, expects to be in the municipal market next week to offer new-money bonds for the first time in several years.

BRADENTON, Fla. — Seven months after the largest oil spill in U.S. history, the credit ratings of state and local government bond issuers in the Gulf Coast region have remained stable, according to Moody’s Investors Service.

A new county commission in Jefferson County, Ala., will be seated Wednesday and is entrusted with resolving the continuing saga of how to deal with nearly $3.2 billion of variable- and auction-rate sewer warrants.

BRADENTON, Fla. — The Birmingham, Ala., City Council approved the sale of up to $75 million of revenue bonds Tuesday for the construction of a 300-room Westin Hotel and creation of a downtown restaurant and entertainment district near the Birmingham-Jefferson Convention Center.

BRADENTON, Fla. — The Securities and Exchange Commission has approved a distribution plan allowing ­Jefferson County, Ala., to receive a $25 million disgorgement and civil penalty that ­JPMorgan paid into a “fair” fund to compensate harmed investors and issuers.

BRADENTON, Fla. — Although Jefferson County, Ala.’s sewer debt has been rated at junk level for quite some time, Moody’s Investors Service said Monday that the appointment of a receiver for the sewer system is a positive credit development for the county and bond insurers.

BRADENTON, Fla. — An Alabama judge said Wednesday that bankruptcy is not a feasible alternative for Jefferson County and appointed a receiver with rate-setting powers to take over the county’s sewer system.

The Birmingham City Council approved a resolution Tuesday supporting an increase in the lodging tax rate by 3.5% to support the development of sports and entertainment facilities.

BRADENTON, Fla. — Alabama Circuit Court Judge Albert Johnson ruled Tuesday that he would appoint a receiver to take over Jefferson County’s sewer system, which is saddled with nearly $3.2 billion of variable- and auction-rate warrants.

BRADENTON, Fla. — Three Gulf Coast states are trying to beat the deadline to sell billions of dollars of private-activity bonds allocated by Congress in the 2005 Gulf Opportunity Zone Act.

BRADENTON, Fla. — Gilt-edged Huntsville in northern Alabama plans to price $174 million of new-money and refunding general obligation capital improvement warrants on Wednesday.

BRADENTON, Fla. — The Securities and Exchange Commission is recommending that Jefferson County, Ala., receive a $25 million disgorgement and civil penalty that JPMorgan paid into an SEC “fair fund” designed to compensate harmed investors and issuers.

Jefferson County commissioners last week hired Warren, Averett, Kimbrough & Marino LLC to audit fiscal year 2008, which ended Sept. 30, 2008.