Florida

A federal judge has denied former Miami budget director Michael Boudreaux's motion for a new trial after a jury found him guilty of securities fraud for misleading municipal bond investors, but he is still exploring options for appeal, his lawyer said.

With Florida facing a structural budget imbalance, lawmakers advanced a comprehensive gaming bill that would bring millions in new revenue and establish “predictability for our state budget,” its sponsor said.

After R.J. Reynolds sold four cigarette brands to ITG Brands, Florida Attorney General Pam Bondi sued the companies saying they have refused to comply with terms of the state’s 1997 tobacco settlement deal.

With a privately owned passenger train service just months away from starting up in south Florida, opponents told a federal judge it would be inequitable to dismiss their lawsuits because of a “backroom” deal involving public financing for the project.

Ben Watkins, director of Florida’s Division of Bond Finance, will receive the third annual Jim Lebenthal Infrastructure Champion award at The Bond Buyer's National Outlook Conference in New York Jan. 31.

A federal judge denied a request by two Florida counties for additional documents about public financing for the All Aboard Florida private passenger train project, moving their lawsuits closer to a ruling on dismissal.

Former Miami budget director Michael Boudreaux is asking a federal judge for a new trial over Securities and Exchange Commission charges that he committed securities fraud because he believes the previous trial was unfairly prejudiced against him.

The U.S. Department of Transportation told a Florida congressman who made inquiries about All Aboard Florida’s financing that it “does not evaluate ridership, revenue, or creditworthiness” for private activity bond allocations.

Miami Beach put the brakes on a public-private partnership to build a 3.5-mile light rail streetcar, to let voters have a say in a larger transit plan that boosters hope can tap the Trump administration’s infrastructure financing proposal.

Martin and Indian River counties have asked a federal judge to examine the new bond financing strategy employed by All Aboard Florida to determine the "full extent" of the proposal and its impact on their federal lawsuits.

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.