Florida

Former Miami budget director Michael Boudreaux plans to ask a federal district court by Jan. 3 to vacate a jury’s verdict that he was guilty of securities fraud, according to his lawyer.

Florida has taken advantage of favorable market conditions for more than six years capturing $2 billion in savings from refinancings, but the state's top finance official says that run is probably coming to an end.

All Aboard Florida moved a step closer to financing the first phase of its private passenger train project when the U.S. Department of Transportation approved AAF’s new application for $600 million of tax-exempt private activity bonds. PAB financing for the project’s second phase remains uncertain.

Orange County, Fla., will competitively price $282 million of new money and advance-refunding tourist development tax-backed revenue bonds on Tuesday.

Miami city commissioners will be asked Thursday to approve their first bond issue since a federal jury found the city guilty of violating securities fraud charges and paying a record $1 million settlement.

Former Miami budget director Michael Boudreaux has been ruined financially fighting securities fraud charges and cannot pay a $450,000 civil penalty sought by the Securities and Exchange Commission, his attorney argued in a court filing Monday.

Issuers, borrowers, and MAs disagree that they violated state and local government series securities (SLGS) rules.

The Securities and Exchange Commission is seeking a $450,000 civil penalty against former Miami budget director Michael Boudreaux, who refused to reach a settlement after a jury found him guilty of securities fraud.

A federal judge has granted a 30-day extension for All Aboard Florida and the U.S. Department of Transportation to respond to lawsuits challenging a $1.75 billion private activity bond allocation to finance a private passenger train project.

The developers of the All Aboard Florida intercity passenger train project unveiled a new financing strategy in court documents saying that it is designed to moot two pending federal lawsuits nearing conclusion in Washington, D.C.

Indian River and Martin counties filed motions for summary judgments requesting a federal judge block the $1.75 billion private activity bond allocation for All Aboard Florida’s Brightline passenger train project.

A federal court judge has approved Miami's $1 million settlement with the Securities and Exchange Commission over charges the city acted fraudulently in taking steps to hide its deteriorating financial condition from bondholders.

The Florida Hurricane Catastrophe Fund is well positioned to absorb losses, the fund’s financial advisor says, even though $454 million in insurance claims have been filed since Hurricane Matthew brushed the state.

The city of Tamarac brings a small deal to market amid a heavy slate this week that officials believe is only the third public green bond offering from Florida.

Miami agreed to pay $1 million to settle securities fraud charges after the city was found guilty by a local jury of playing a shell game to hide its deteriorating financial condition from bondholders.

The city of Miami will consider paying $1 million, as recommended by City Attorney Victoria Mendez, to settle a Securities and Exchange Commission’s lawsuit.

Charlotte, N.C., will buck a recent trend and keep embattled Wells Fargo Securities on its sale of up to $150 million of general obligation bonds, saying the investment bank has served the city well.

The Internal Revenue Service has informally advised the Baker Correctional Development Corp. in Florida that $45 million of first mortgage revenue bonds it issued in 2008 are taxable.

Miami officials will hold a special meeting with attorneys to determine whether to accept a settlement with the Securities and Exchange Commission in light of a verdict finding the city guilty of securities fraud.

Miami City Manager Daniel Alfonso said the city has received a proposed settlement of the Securities and Exchange Commission's case, in which a jury found the city guilty of securities fraud last week.