Southeast

Moody’s Investors Service last week said it continues to review Jefferson County’s ratings for possible downgrade. They were placed under review after the county filed for Chapter 9 bankruptcy in November.

A Financial Industry Regulatory Authority arbitration panel ordered Memphis-based Morgan Keegan & Co. to pay a Birmingham investor $1.95 million for misrepresenting that the Jefferson County, Ala., sewer bonds he purchased were safe, liquid and tax-free investments.

Fluvanna County, Va., and Davenport & Co., its financial advisor for 15 years, are battling each other in a circuit county court over whether the firm misled the county about $67.5 million of bonds sold in December 2008 to finance construction of a new high school.

BRADENTON, Fla. — Jefferson County, Ala., on Friday filed a notice of cross appeal and said that it may challenge a bankruptcy judge's ruling that allows sewer revenues to be used for debt service payments.

BRADENTON, Fla. — The Florida Senate Budget Committee Wednesday unanimously approved a $70.7 billion budget for fiscal 2013 that sets the stage for controversy by transferring toll revenue from local agencies to the Florida Turnpike Enterprise, and placing restrictions on bond issuance for the foreseeable future.

DALLAS — The Louisiana Bond Commission will meet in special session March 1 for the competitive sales of $449 million of state general obligation bonds.

Investors holding $3.14 billion of Jefferson County, Ala.'s sewer warrants should continue to see uninterrupted debt-service payments over the next few months thanks to an interim agreement approved by the county's bankruptcy judge this week.

The Clay Gas Utility District of Clay County, Tenn., has extended a tender offer through Friday to buy back its bonds for 10 cents on the dollar.

Louisiana Gov. Bobby Jindal’s proposed executive budget for fiscal 2013 calls for total spending of $25.5 billion, down $61 million from the fiscal 2012 spending plan.

Kentucky Gov. Steve Beshear and Sen. Damon Thayer joined forces Tuesday to sponsor a bill that would authorize a statewide referendum asking voters to allow expanded gambling in up to seven locations.