Mississippi

As Mississippi legislative session winds down, the state's first debt study will guide lawmaker on bond financing decisions, said State Treasurer Lynn Fitch.

Southeast bond issuance last year dropped 11% to $56.7 billion as rising interest rates took refundings out of the running and new-money volume was nearly flat.

A Mississippi Senate highway committee is considering a half-cent sales tax hike to increase revenues for road and bridge maintenance in the state.

Mississippi Insurance Commissioner Mike Chaney has filed a federal lawsuit in an attempt to stop what he called "draconian" federal flood insurance rate increases.

Municipal bond issuance in the Southeast dropped nearly 12% to $30.7 billion in the first half of 2013. Sales were down in eight of the 11 states comprising the region.

The Mississippi Legislature is nearing agreement on a $5.7 billion general fund budget for 2014, though questions remain over Medicaid expansion.

Moody's Investors Service Tuesday downgraded the city of Natchez, Miss.'s general obligation rating to A2 from A1 citing the city's limited cash and reserves.

Historically low interest rates last year helped boost bond sales across the Southeast to $63 billion, an increase of 33% over 2011. The surge in debt was propelled by refundings.

Moody's Investors Service downgraded Gulfport, Miss.'s underlying general obligation debt rating to A1 from Aa3 citing imbalanced financial operations.

Fitch dropped the outlook on Forrest County General Hospital, Miss. to negative while affirming its A rating.

Moody's Investors Service does not anticipate any disruption in debt-service payments by issuers in Louisiana and Mississippi affected by Hurricane Isaac.

Municipal bond issuance in the Southeast during the first half of this year was up by 57% to $34 billion - nearly the same amount that was lost between 2011 and 2010.

Mississippi's higher education officials last week said they have $683.9 million in capital needs, and they hope the Legislature will address some of that with bonding capacity next year.

BRADENTON, Fla. — For the first time in years, the Mississippi Legislature has ended its annual session without passing a bill authorizing new bonds for capital projects.

During his first state of the state address Tuesday, Mississippi Gov. Phil Bryant said his goals include implementing education and budget reforms, economic development initiatives, and workforce development.

Mississippi Gov. Haley Barbour on Tuesday submitted his final executive budget recommendations, and told legislators to curb spending for fiscal 2013 due to the state’s sluggish recovery.

A health care issuer and borrower in Mississippi are discussing the possibility of entering into a voluntary agreement with the Internal Revenue Service to settle tax law violations that occurred after some bond-financed equipment was sold to a private group.

Louisiana's entire congressional delegation and the Mississippi treasurer are urging the U.S. Treasury Department and the Internal Revenue Service to issue guidance allowing Gulf Opportunity Zone bonds to be issued after the year ends to refund previously issued GO Zone bonds on a tax-exempt basis.

DALLAS - Mississippi will take a $675.2 million, multi-part general obligation bond issue to market next week that will finance state capital improvement projects, provide funding for economic development efforts, and refinance existing debt.

The Rankin County School Board failed to get the votes necessary in a referendum last week to authorize the issuance of $169.5 million of general obligation bonds.