Southeast

Massachusetts has a budget for fiscal 2013 while South Carolina remains the only state without one, 11 days into the new fiscal year.

A Federal appeals court refused a rehearing on its decision to reject federal permits for North Carolina's Monroe Connector toll road.

Former state Rep. Vic Stelly, who engineered a now-repealed plan that raised income tax rates while reducing sales taxes, said last week that tax credits and exemptions are destroying Louisiana's finances.

Ascension Parish, La. officials are considering a 25-year, $135 million road improvement program to be funded in part with $80 million of bonds supported by a proposed 0.5% increase in the parish's sales tax.

Wells Fargo Bank NA said in a market notice last week that the accelerated repayment of debt owed by a Georgia charter school, Fulton Science Academy, had been rescinded.

The Santa Rosa Bay Bridge Authority, Fla. missed its third bond payment on July 1 because toll revenues were insufficient to pay debt service, according to a market notice filed by Bank of New York Mellon.

Two Virginia authorities will price a total of more than $200 million of bonds in separate negotiated deals over the next week. The Virginia Resources Authority will price $81 million of bonds in a pool deal on behalf of 13 local issuers on July 12. In addition, the Commonwealth Transportation Board will sell $125.5 million of grant anticipation revenue bonds less than a week later.

Judson Freeman joined Florida-based Bryant Miller Olive PA on Monday. Freeman has 35 years of experience in public finance work, and will work in BMO's Jacksonville office.

Moody's Investors Service said Monday that a recent ruling in Jefferson County, Ala.'s bankruptcy case is a credit positive because it will prevent revenues securing the county's $3.14 billion of defaulted sewer warrants from being further diluted.

Tennessee State School Bond Authority will take $427.7 million of higher education facilities revenue bonds to market Wednesday and Thursday to catch a favorable market.