Southeast

A U.S. appeals court will take up a lawsuit as early as October that attacks the financial backing of billions of bonds paying for the Washington Metrorail's Silver Line Extension to Dulles Airport.

Two refundings over the next two months will reduce New Orleans' annual debt service and remove an unsecured credit from the city's balance sheet.

Virginia Gov. Bob McDonnell slammed the Obama administration last week for killing major energy initiatives that would bring new revenues and jobs to the state.

Standard & Poor's revised its outlook to positive from stable on the Tennessee State School Bond Authority's AA-rated bonds ahead of an upcoming sale.

Alexandra C. Cook has been named the new finance director for Broward County's Port Everglades Department in southeast Florida.

The Florida Cabinet last week approved the sale of $680 million of new and refunding bonds.

On Monday North Carolina gained a budget but as of Tuesday afternoon Massachusetts and South Carolina remain without valid fiscal year 2013 budgets.

The Loudoun County Board of Supervisors voted 5-4 to go ahead with the county's participation in the second phase of the Washington Metrorail's Silver Line extension, committing the county to an approximately $270 million share of the construction costs of the controversial and largely bond-financed project.

Federal Bankruptcy Judge Thomas Bennett said Friday June 29 that Jefferson County cannot keep sewer revenues in excess of operating expenses that are specified in bond documents. The county wanted to withhold the funds to pay estimated legal estimates and establish a reserve fund. Jefferson County currently pays $5.5 million a month in debt service on the $3.2 billion of outstanding sewer bonds. The county filed for bankruptcy in November 2011.

Though the new fiscal year has started, Massachusetts, North and South Carolina still lacked fiscal year 2013 budgets on Monday afternoon.