Florida

Miami-Dade County approved a resolution last week supporting a plan for public taxes to pay half the $400 million cost of upgrading the stadium where the NFL's Miami Dolphins play.

Citing fiscal imbalances, Fitch Ratings on Monday downgraded the implied general obligation of the Marion County School Board in north-central Florida to A-plus from AA-minus.

The Florida Hurricane Catastrophe Fund Finance Corp. is preparing to sell up to $2 billion of taxable notes this spring for liquidity to pay claims, if needed.

The Florida Department of Transportation is proposing a network of regional transportation toll authorities that would take some financing pressure off the state and move projects forward.

The Treasury and IRS have sent two separate letters to Sens. Lautenberg and Nelson regarding concerns over available financing for housing damaged by Hurricane Sandy and tax guidance on political subdivisions that would affect community development districts in Florida.

Fitch Ratings and Moody's Investors Service said the decision by the Florida Supreme Court upholding legislation requiring that employees contribute to the Florida Retirement System is positive for state and local governments.

A ruling by the Florida Supreme Court last week upholding the state's pension reform measures is a positive credit factor, according to Standard & Poor's.

Florida's Miami Dolphins have renewed a proposal for public funding to help pay for upgrading their 25-year-old football stadium, which they hope will win the 50th Super Bowl game in 2016.

Bank of New York Mellon accelerated about $116 million of toll revenue bonds due to ongoing defaults by Florida's Santa Rosa Bay Bridge Authority. The trustee said payment on the bonds is due immediately.

Florida does not have capacity to issue a significant amount of new debt within policy guidelines in fiscal 2014, though financial metrics show the state's revenues have recovered better than anticipated.

Miami-Dade County is looking for partners to develop a multi-attraction entertainment destination adjoining Zoo Miami to compete with central Florida's mega-theme parks.

Port St. Lucie, Fla. is seeking companies interested in leasing the bond-financed building that housed the failed Digital Domain company.

Miami-Dade County commissioners approved a four-year, flexible draw-down bond program up to $675 million, in a private placement with RBC Municipal Products LLC.

Despite ongoing federal scrutiny related to past bond deals, Miami closed on the sale of $45 million of revenue bonds Thursday for an all-in, true-interest cost of 3.82%.

Hoping to entice buyers looking for reinvestments in January, the Orlando-Orange County Expressway Authority sells up to $500M of bonds Thursday after a successful November issuance.

Some 98 muni professionals received awards in Smith's 20th annual All-Star program at a luncheon in New York last week. They were chosen by nearly 3,000 institutional investors.

Florida's Tampa-Hillsborough County Expressway Authority will make its first venture into the bond market as a standalone credit next week with $454.8 million of new and refunding bonds.

A preliminary state audit of Hollywood, Fla.'s finances shows troubling past management practices, and unaddressed high pension costs.

Standard & Poor's affirmed its BBB rating on Miami's general obligation bonds and its BBB-minus rating on the city's non-ad valorem and limited-tax debt. The outlook is negative.

Miami sells $50 million of revenue bonds next week to qualified investors to refinance a loan used to pay a portion of building underwater tunnels to the Port of Miami.