Southeast

The new sewer rate structure recently approved by Jefferson County, Ala., commissioners is an interim plan that can be altered as creditors negotiate a settlement to restructure more than $3 billion of defaulted debt, the county said.

The Florida Hurricane Catastrophe Fund Finance Corp. is preparing to sell up to $2 billion of taxable notes this spring for liquidity to pay claims, if needed.

The Florida Department of Transportation is proposing a network of regional transportation toll authorities that would take some financing pressure off the state and move projects forward.

The Treasury and IRS have sent two separate letters to Sens. Lautenberg and Nelson regarding concerns over available financing for housing damaged by Hurricane Sandy and tax guidance on political subdivisions that would affect community development districts in Florida.

Two of Louisiana's Republican state representatives have filed suit in state district court contending that Gov. Bobby Jindal's operating budget for fiscal 2013 is unconstitutional.

Fitch Ratings and Moody's Investors Service said the decision by the Florida Supreme Court upholding legislation requiring that employees contribute to the Florida Retirement System is positive for state and local governments.

The United States 11th Circuit Court of Appeals on Tuesday tentatively scheduled oral arguments in the appeal involving Jefferson County, Ala.'s sewer system receiver for the week of June 3. Creditors have appealed a ruling that stripped the receiver of the right to run the county's sewer system.

Moody's Investors Service placed tobacco settlement revenue bonds of issuers in 17 states and two territories under review with direction uncertain because of legal settlement announced in December. The action affects $20.5 billion of debt.

Louisiana has delayed the single-tranche sale of up to $350 million of highway improvement revenue bonds, shifting to a plan for phased issues over three years.

Virginia Gov. Bob McDonnell announced on Tuesday that he will recommend over $2 billion of funding for hundreds of transportation projects statewide, new money projected to come from his controversial overhaul of the commonwealth's gas and sales taxes.