Florida

BRADENTON, Fla. — Tampa Bay Water is asking a federal district judge for a new trial after losing its first case to a jury on April 10 after a month-long proceeding.

Fitch Ratings last week dropped the Citrus County Hospital Board, Fla.’s bonds, issued on behalf of Citrus Memorial Health Foundation Inc., to BB-minus from BB-plus. The downgrade affects $39.4 million of outstanding debt.

Miami Beach commissioners last week agreed to ask voters to increase the local tourist tax by 1% to renovate the city’s convention center and pay debt service. The tax will be on the Aug. 14 statewide primary ballot.

The Florida Hurricane Catastrophe Fund may seek up to $1.7 billion of financing from the municipal market in the upcoming months.

BRADENTON, Fla. — Of Florida's 67 counties, an "unprecedented" 52 have joined a lawsuit challenging a new state law that county officials say could impair their ability to make bond payments and meet debt coverage requirements while reducing bonding capacity.

Georgia-based American Maglev Technology Inc. has proposed a 15-mile, $315 million elevated magnetic levitation train project to connect Orlando International Airport with several locations in central Florida, according to the Orlando Sentinel.

Moody’s Investors Service last week downgraded Hillsborough County, Fla.’s community-investment tax revenue bonds to A1 from Aa2, and lowered the county’s court facilities refunding revenue bonds to A1 from Aa3.

BRADENTON, Fla. — Florida's Citizens Property Insurance Corp. Tuesday closed on the largest single catastrophe bond deal, transferring $750 million of risk to the capital market.

Florida Gov. Rick Scott Friday vetoed a bill that would have established a new tax-credit program designed to raise money for the Florida Hurricane Catastrophe Fund, and reduce its reliance on the bond market.

Miami Beach on Monday received qualifications from eight teams interested in a public-private partnership with the city to develop a 52-acre Miami Beach Convention Center District.

Tampa Bay Water, a regional supplier for three counties on the west coast of Florida, is expected to ask for a new trial after losing a $100 million civil suit last week for what it claimed was a faulty reservoir design, according to published reports.

BRADENTON, Fla. — Florida Gov. Rick Scott Tuesday signed into law a $70 billion budget for fiscal 2013, lauding the fact that it contains $1 billion more for K-12 education while bridging a $1 billion funding gap.

Tampa Bay Water, a regional supplier for three counties on the west coast of Florida, counted on winning $100 million for what it claimed was a faulty reservoir design.

Moody’s Investors Service on Tuesday placed the A3 rating on Tampa General Hospital’s debt on review for possible downgrade.

BRADENTON, Fla. — Orange County, Fla., on Tuesday plans to take bids for $116.8 million of taxable and tax-exempt sales tax refunding bonds.

WASHINGTON — The Internal Revenue Service is auditing two special assessment bond issues totaling $64.46 million that were sold in May 2006 by the Wentworth Estates Community Development District in Florida and went into default.

BRADENTON, Fla. — A proposed tax-credit program designed to raise money for the Florida Hurricane Catastrophe Fund, and reduce its reliance on the bond market, is raising eyebrows and questions.

Broward County, Fla., inspector general John Scott said Monday that top employees in the city of Lauderdale Lakes “have grossly mismanaged public funds entrusted to its care.”

BRADENTON, Fla. — Miami officials have been told that civil charges may be brought against the city for failing to disclose serious budget problems in recent bond offerings.

The Florida Legislature's fiscal 2013 budget taps reserves of the state's 11 public universities to help balance the state budget — "a clear credit negative" for the schools, according to Moody's Investors Service.