Southeast

Alabama Gov. Robert Bentley has signed a bill setting up a plan to repay $438 million the state will borrow from the Alabama Trust Fund to prop up the state's general fund budget.

Peabody Energy Corp., which led efforts to develop the mostly bond-financed, joint power agency-owned Prairie State Energy Campus, has received a subpoena from the Securities and Exchange Commission on the coal-fired plant's development.

Lori Smith-Lalla has joined Greenberg Traurig’s public finance practice in Fort Lauderdale and will focus on city, county and local government finance.

The Virginia General Assembly gave final approval on Saturday to legislation that is projected to raise more than $800 million for transportation over the next five years.

Tulane University in New Orleans will continue its post-hurricane renewal effort with a negotiated sale of $98.6 million of revenue bonds.

Virginia is poised to enact a funding bill that raises sales taxes but slashes fuel taxes to create $200 million of new transportation revenue each year that could be used for bonding.

Louisiana State Bond Commission set up an executive committee to find a way to replenish a capital outlay account without busted the cap on state tax debt.

Kentucky lawmakers are considering union-backed police and fire pension reform measures for the city of Lexington, as well as a bill addressing the state's $30 billion unfunded liability.

Florida's Santa Rosa Bay Bridge default makes it the largest issuer in default of its municipal bonds this year, according to Bank of America Merrill Lynch.

Moody's Investors Service Tuesday downgraded the city of Natchez, Miss.'s general obligation rating to A2 from A1 citing the city's limited cash and reserves.