Southeast

Bond insurer ACA Financial Guaranty Corp. has gone to federal court seeking the keys to Buena Vista, Virginia’s city hall and compensatory damages after the city defaulted on ACA-wrapped debt that financed a golf course.

Saying lawmakers have failed to offer alternatives to address West Virginia’s $500 million budget gap, Gov. Jim Justice revised his fiscal 2018 budget to propose new taxes on sugary sodas, cigarettes, and wealthy state residents.

Credit concerns are mounting over the financial stability of Toshiba Co., parent of the company building partly municipal bond-financed nuclear units in South Carolina and Georgia.

Saying he is responding to a recent rating downgrade by Moody's Investors Service, West Virginia Gov. Jim Justice is seeking legislation that would allow him to furlough state employees to reduce spending.

The Louisiana Legislature ended a special session agreeing to budget cuts and using reserves to close a $304 million mid-year gap, while facing a $440.5 million shortfall in fiscal 2018 due to lower revenue estimates.

West Virginia Gov. Jim Justice said state officials failed to address budget problems that would have staved off a downgrade of the state’s GO bond rating to Aa2 by Moody's Investors Service.

Facing the loss of millions in federal funds, the Miami-Dade County Commission voted to comply with immigration authorities' orders to hold jailed undocumented inmates regardless of the cost to the county budget.

The Louisiana State Bond Commission approved a smaller-than-planned general obligation borrowing Thursday that will save the cash-strapped state’s general fund about $3 million.

Issuers across the Southeast brought $71.7 billion of municipal bonds to market in 2016, a 3.3% year-over-year increase that was generated largely by refundings.

The Glades Correctional Development Corp. in south-central Florida said that it received a preliminary Internal Revenue Service determination that its 2006 bonds violate the private activity use test.