Southeast

WASHINGTON — Virginia won applause from Moody's Investors Service this week following an overhaul of its pension system, but neighboring Maryland received flak as the credit rating agency warned its proposed budget cuts could harm the credit of local governments.

BRADENTON, Fla. — Florida Gov. Rick Scott Tuesday signed into law a $70 billion budget for fiscal 2013, lauding the fact that it contains $1 billion more for K-12 education while bridging a $1 billion funding gap.

Virginia Gov. Robert McDonnell announced that the commonwealth has obtained all of the funds needed to proceed with its Elizabeth River Crossings project, including the full $300 million that the Virginia Department of Transportation has committed to the $2.1 billion public-private partnership.

BRADENTON, Fla. — South Carolina federal bankruptcy Judge David Duncan last week approved a plan allowing investors who want to trade their Connector 2000 Association term bonds to exchange them.

BRADENTON, Fla. — The Kentucky Legislature Monday begins a special session called by Gov. Steve Beshear after legislators failed to pass a transportation budget last week.

WASHINGTON — The U.S. Department of Transportation has approved a $422 million TIFIA loan for construction of a new midtown tunnel and rehabilitation of existing tunnels in Norfolk and Portsmouth, Va.

WASHINGTON — Birmingham and Montgomery, Ala., have the highest combined state and local tax rates, at 10%, among major U.S. cities, a new report found.

BRADENTON, Fla. — As a hearing continued in Birmingham, Ala., Thursday to determine what amount of sewer revenues will go to pay debt, Jefferson County said in a filing that it is pursuing avenues to set sewer rates and has hired a consultant.

BRADENTON, Fla. — As Atlanta plans to open its new $1.4 billion international terminal next month, the city is moving forward with other projects at Hartsfield-Jackson Atlanta International Airport.

Tennessee Comptroller Justin Wilson said Monday that the state and local governments are doing a better job of reporting financial information in a timely manner.