Southeast

Gov. Robert Bentley told legislators Tuesday that bond financing for new prison construction will be paid from the budget that now pays for costly upkeep at aging and overcrowded facilities.

Florida’s State Board of Administration Finance Corp. will issue $1.2 billion of taxable bonds for the state’s Cat Fund, pitching investors opportunity to pick up yield.

The $254.6 million of BANs were directly placed with JPMorgan at a cost of 0.52%, and will "bridge" the state through the next six or seven months, said Louisiana's financial advisor Renee Boicourt.

The Florida Senate and House released fiscal 2017 budgets Friday that are higher than Gov. Rick Scott’s record spending plan; debate remains on Scott’s $1 billion tax cut proposal.

Hillview, Ky., and its largest creditor, Truck America, have entered settlement talks over a judgment as U.S. Bankruptcy Judge Alan C. Stout continues considering whether the city is eligible for bankruptcy.

Gov. Matt Bevin rejected the idea of issuing pension obligation bonds as he released his first budget, saying the two-year plan does not raise taxes but impose spending cuts in order to pay more for the state’s pensions.

Florida lawmakers are pressing for legislation that could dramatically alter the state’s public school landscape, saying parents want more charter schools and smaller school districts.

John Kennedy, the Pelican state's long-time treasurer, announced on his blog Tuesday that he will run for the seat being vacated by U.S. Sen. David Vitter, R-La.

A court’s refusal to block the federal Clean Power Plan rule is a credit negative for big coal-fired generators, cities that issued bonds to finance units, and for coal-dependent states, Moody's Investors Service said.

All Aboard Florida said it will sell $1.75 billion of tax-exempt private activity bonds for its $3.5 billion passenger train project as market conditions improve.