Southeast

Florida Gov. Rick Scott declared the small city of Opa-locka to be in a financial emergency late Wednesday, authorizing the state to take control of the city’s finances and debts.

South Carolina Legislature approves transportation funding bill backed by $2.3 billion of road revenue bonds.

The North Carolina House Transportation Committee on Wednesday passed House Bill 954, which would unwind the state’s $648 million Interstate 77 project with Cintra Infraestructuras SA.

The Fayetteville Public Works Commission will auction $110.8 million of revenue bonds in what is still a rare competitive deal for a North Carolina issuer, one that it accelerated to beat the Fed's expected tightening.

Louisiana Gov. John Bel Edwards on Friday said that lawmakers should begin a special session on June 6 to continue work on the fiscal 2017 budget to avoid what he said are unnecessary cuts in important state services.

The Palmetto State should merge its state infrastructure bank into the transportation department, auditors said.

Tennessee's general obligation bonds got a boost to AAA Thursday by S&P Global Ratings, which cited the state’s sound operations and improving economy.

Port St. Lucie, Fla., will only recover 6% from the bond-laden incentive package the city used to lure a digital effects studio to town.

Tax-exempt bonds give municipal issuers a unique advantage in negotiating public-private partnerships, a factor that some municipal market and legal advocates say should not be overshadowed.

Municipal market participants are urging the Treasury Department and Internal Revenue Service to withdraw their proposed rules on political subdivisions, claiming they are unnecessary, possibly illegal, and would disrupt the municipal bond market.