Tennessee

Tennessee Governor-elect Bill Haslam has selected Mark Emkes as commissioner of the Department of Finance and Administration, which oversees the state budget and health care program.

BRADENTON, Fla. — The Clay Gas Utility District of Clay County, Tenn., filed a notice last week saying that it has not made scheduled principal and interest payments on its bonds since 2000.

BRADENTON, Fla. — Tennessee will bring its fourth deal in six weeks to market on Wednesday with the competitive sale of $213.3 million of tax-exempt general obligation bonds.

BRADENTON, Fla. — Fifteen schools across Tennessee will get interest-free loans for capital projects thanks to the qualified school construction bond program afforded by Congress as part of the federal stimulus program, state officials said Tuesday.

BRADENTON, Fla. — Nashville has approved a pre-development agreement with a private partner to finance and build an 800-room hotel across the street from Music City Center, a new convention center under construction near downtown.

The Tennessee State School Bond Authority plans to competitively sell $245 million of tax-exempt and taxable higher education revenue bonds Wednesday.

BRADENTON, Fla. — Boosted by the popularity of Build America Bonds and refunding opportunities, issuers in the 11 states that comprise the Southeast region sold $34.5 billion of municipal bonds in the first half of 2010, up 7.4% over the same period last year.

BRADENTON, Fla. — Tennessee is moving toward implementing comprehensive debt-management practices to be used by the state and its agencies, local governments, and other authorities that issue debt.

BRADENTON, Fla. — The Tennessee General Assembly late Wednesday ended its annual session after sending Gov. Phil Bredesen a $29.9 billion budget for the upcoming fiscal year.

BRADENTON, Fla. — Nashville’s consolidated government next week is selling between $575 million and $775 million of new-money and advance refunding general obligation bonds to finance capital projects and restructure outstanding debt to avoid tax hikes and budget cuts.

BRADENTON, Fla. — Moody’s ­Investors Service yesterday said that credit quality in Tennessee could be affected over the long term because of floods earlier this month that saw federal disaster declarations for 45 counties covering nearly half the state.

BRADENTON, Fla. — Just ahead of a planned sale of up to $775 million of general obligation bonds, Moody’s Investors Service has placed the Aa1 rating of Nashville’s consolidated government on watch for possible downgrade, citing the devastating recent floods and tornadoes, among other reasons.

BRADENTON, Fla. — The governors of Kentucky and Tennessee have declared states of emergency to deal with disastrous floods and tornadoes that hit the states over the past weekend.

BRADENTON, Fla. — Tennessee’s Division of Local Finance will merge with the Division of Bond Finance on Thursday, state Comptroller Justin Wilson announced yesterday.

BRADENTON, Fla. — The bond financing for Nashville’s proposed new convention center has been delayed pending action on a bill by the Legislature that, if passed, would grant an exception to Tennessee’s usury law regulating interest rates on municipal debt.

BRADENTON, Fla. — Tennessee Gov. Phil Bredesen Monday night recommended a $28.41 billion budget for fiscal 2011, a reduction of 5% from the current year.

BRADENTON, Fla. — ­Nashville’s consolidated government leaders Tuesday night voted to move forward with a new convention center that could require as much as $650 million in bond financing that could price next month.

BRADENTON, Fla. — Tennessee’s Metropolitan Government of Nashville and Davidson County tonight is expected to take a final vote on whether to move forward with its largest public works project ever — even though the cost could lead to a rating downgrade.

The consolidated Metropolitan Government of Nashville and Davidson County is reviewing a finance plan to build a new $585 million convention center. But the idea is controversial because most of the debt for the project would be backed by a general fund pledge of non-ad valorem revenue.

BRADENTON, Fla. — Tennessee is proposing debt management policies that may be some of the strictest ever adopted by a state for use by local governments, according to the state’s financial adviser, who is a former Government Finance Officers Association board member.