Southeast

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.

Delaware, Illinois, Massachusetts, New Jersey, North Carolina, Pennsylvania and South Carolina are about close to blowing a deadline for adopting a fiscal 2013 budget.

Landmark at Doral CDD bondholders won title to the land with a stalking horse bid of $67.5 million when no bidders came forward at auction.

After two years with Jefferson County, Ala., David Hooks will return to the private sector joining a Memphis broker-dealer where he will develop an institutional sales network.