Southeast

Jefferson County, Ala.'s bankruptcy judge Wednesday will hear arguments about setting a deadline for the county to propose a plan of adjustment, and will consider a Birmingham group's claim for $1.63 billion.

The nine Georgia regions encompassing 113 counties could face additional funding pressure due to rejection of transportation sales tax, according to Moody's.

Drought-stricken Georgia has approved the first round of projects financed with state-issued bonds that will help build reservoirs and other drinking water projects.

South Florida's Miami-Dade County School Board has agreed to ask voters to approve a $1.2 billion bond issue. The nation's fourth-largest school district wants to make systemwide infrastructure improvements and upgrade technology.

Jackson Securities LLC is being spun off by Atlanta Life Financial Group. Subject to regulatory approval, Jackson will merge with New York-based M.R. Beal & Co.

Fort Lauderdale is thinking about selling about $300 million of pension obligation bonds. While some people think they are too risky, bond market experts say taxable rates are at historic lows and that POBs could actually bring discipline to the city's finances.

Virginia announced Monday that it expects to end fiscal 2012 with a $129.2 million surplus, the third consecutive year the state showed such growth.

Louisiana collected $721.9 million in state taxes in June, up from $695 million in May, according to the latest monthly report from the Department of Revenue.

Louisiana must move quickly to avoid damage to its Medicaid program resulting from a sooner-than-expected end to federal assistance, state Treasurer John Kennedy said last week in outlining a 14-step plan.

Voters in nine of 12 districts in Georgia Tuesday rejected raising the sales tax by 1% to pay for billions in transportation improvements. In the 11-county Atlanta region, among the most congested in the state, 62.6% of voters said no.