Tennessee

BRADENTON, Fla. - The financially troubled Clay County Gas Utility District in Tennessee said Tuesday that it would redeem $200,000 of its $3.25 million of outstanding gas system revenue bonds on Dec. 1.

BRADENTON, Fla. - Memphis is exploring its legal options, including a lawsuit, against the National Basketball Association's Memphis Grizzlies if the NBA's lockout develops into a full-season loss.

BRADENTON, Fla. - Tennessee next week is selling $584.27 million of tax-exempt and taxable general obligation bonds in the state's largest ever single sale.

BRADENTON, Fla. — A federal bankruptcy judge has allowed Lambuth University to lease its grounds to Tennessee's Board of Regents so that utilities remain on and the University of Memphis can begin offering classes there this fall.

BRADENTON, Fla. — The Tennessee State Funding Board is revising its debt-management policies in addition to requiring that all local governments adopt their own such policies by the end of this year.

BRADENTON, Fla. - The trustee for Lambuth University on Wednesday notified the bond market that the Jackson, Tenn.-based school filed for Chapter 11 bankruptcy three weeks ago.

BRADENTON, Fla. - Lambuth University in Jackson, Tenn., closed down academic operations Thursday while administrative offices remained open and negotiations continued with various parties for the payment of debts, including outstanding bonds.

Tennessee revenue collections continued a nine-month growth trend in May with a 9.82% increase over the same month a year ago.

Tennessee Comptroller Justin Wilson reminded local governments in a recent letter that they are required to draft and adopt their own debt-management policies by Dec. 31.

BRADENTON, Fla. — Lambuth University in Jackson, Tenn., has filed an audit that “raises substantial doubt about its ability to continue as a going concern.”

BRADENTON, Fla. — The last student graduated from Lambuth University in Jackson, Tenn., on April 30.

BRADENTON, Fla. — Standard & Poor’s last week revised its outlook on Tennessee’s AA-plus general obligation bond rating to positive from stable, citing an economic recovery that could result in a third gilt-edged rating.

BRADENTON, Fla. — Memphis-based Morgan Keegan & Co. is expanding its reach in the Northeast region with the addition of two veteran public finance bankers.

BRADENTON, Fla. — Delta Air Lines Inc.’s 25% service reduction at Memphis International Airport could be a harbinger of future cutbacks at the Tennessee hub and other airports as carriers respond to sharply increasing fuel prices, according to rating agency analysts.

BRADENTON, Fla. — Tennessee Gov. Bill Haslam proposed a $32 billion spending plan for fiscal 2012 that is down 5.6% from the current year and largely reflects a 14.7% drop in federal funds.

BRADENTON, Fla. — Fitch Ratings downgraded Nashville’s water and sewer bonds on Thursday to AA-minus from AA, in part because of a consent decree that could require up to $1.5 billion in capital expenditures.

In the first graduating class of its kind in Tennessee, 97 municipal government officials from across the state have been recognized as “Certified Municipal Financial Officers” through a state-required curriculum.

BRADENTON, Fla. — The Nashville Metropolitan Transit Authority has hired Parsons Brinckerhoff to do a year-long study of high-capacity transit options to shuttle workers and tourists to and from the city’s busy downtown business and entertainment districts.

Tennessee tax collections exceeded budgeted estimates in November — the third month this fiscal year that all tax collections have been better than estimates, with state sales taxes showing growth.

BRADENTON, Fla. — Tennessee has instituted some of the strictest guidelines ever imposed for issuing municipal debt by establishing a model requiring that all ­issuers adopt debt-management policies by Jan. 1, 2012.