Florida

BRADENTON, Fla. — The Florida House yesterday passed a bill adopting a statewide passenger rail policy and creating a commission to oversee existing and new rail projects.

BRADENTON, Fla. — The Florida Supreme Court on Wednesday approved Gov. Charlie Crist’s request to impanel a statewide grand jury to conduct a year-long investigation into government corruption.

BRADENTON, Fla. — Against the backdrop of an annual internal audit critical of some of Miami’s budget practices, two agencies have assigned ratings to the city’s upcoming sale of $120 million of revenue bonds with the proceeds financing a parking garage for a Major League Baseball stadium.

The city of Sunrise on Monday removed Bank of America Merrill Lynch from its underwriting syndicate because its parent company, Bank of America NA, has come under fire in Florida for its mortgage and loan restructuring ­practices.

Florida’s elected Cabinet on Tuesday authorized the sale of nearly $1.5 billion of debt.

BRADENTON, Fla. — Stressed community development districts in Florida this month have told bondholders that they continue to rely on reserves to make debt ­payments. Some have filed notices of default and analysts expect their number to increase.

BRADENTON, Fla. — Top Florida officials are considering calling a special session of the Legislature in early December to solve problems that could prevent the state from getting federal stimulus funds for a variety of rail projects.

Supporters of Florida Forever, the state’s land conservation program, have launched an effort to convince the Legislature to restart bond financing so that the state can resume purchasing land while real estate prices are low.

Fitch Ratings Tuesday downgraded to A from A-plus $114 million of Indian River County School Board’s outstanding certificates of participation. The rating outlook is stable.

BRADENTON, Fla. — The Florida Hurricane ­Catastrophe Fund could be back in the bond market next year to again sell debt to pay damage claims caused by hurricanes in 2004 and 2005.

BRADENTON, Fla. — The $1 billion Port of Miami Tunnel project Thursday reached financial closing — a conclusion that took nearly four years due to economic challenges, political problems, and diminished access to credit for large transportation-related public-private partnerships.

BRADENTON, Fla. — Florida Gov. Charlie Crist has asked that a statewide grand jury be impaneled to investigate government corruption in the Sunshine state.

Fitch Ratings last week upgraded the Hernando County School Board’s $143.4 million of outstanding certificates of participation to A-minus from BBB-plus. The rating agency also raised the school district’s general obligation credit, and its $800,000 of outstanding GOs, to A from A-minus.

BRADENTON, Fla. — Florida Department of Transportation Secretary ­Stephanie Kopelousos said this week that her agency has received the necessary letter of credit from Miami for a portion of its funding for the $1 billion Port of Miami Tunnel project.

BRADENTON, Fla. — Two appeals now have been filed contesting a Florida judge’s decision to validate $650 million of certificates of participation sought by the South Florida Water Management District to finance the purchase of U.S. Sugar Corp.’s land for Everglades restoration.

BRADENTON, Fla. — Transportation Secretary Ray LaHood has been making the rounds across the country, telling those vying for $8 billion in federal stimulus funds for high-speed and intercity rail projects that united public and official support — and state funding — are key elements for successful applicants.

BRADENTON, Fla. - Miami-Dade County, Fla., hopes to terminate swaps insured by troubled Ambac Assurance Corp.

Florida’s Division of Bond Finance Tuesday received authorization to sell $727.1 million of bonds.