Southeast

Florida Gov. Rick Scott on Monday appointed John M. Martinez, vice president of Gardnyr Michael Capital Inc., as an interim Orange County commissioner.

Federal Judge Thomas Bennett, who is overseeing Jefferson County’s bankruptcy case, said Monday that he may not make a decision about whether the receiver will remain in charge of the county’s sewer system until after Dec. 23.

Jefferson County will be without a finance director after Friday.

Tampa, Fla., this week is marketing $20 million of taxable bonds to pay workers' compensation claims in a transaction that could be a model for other deals.

Jefferson County is not eligible to file for bankruptcy because it has no debt outstanding that qualifies under the Alabama law that authorizes municipalities to file for Chapter 9, creditors argued in court filings last week.

The Securities and Exchange Commission said late Thursday that it is a "statutory party in interest" in Jefferson County, Ala.'s bankruptcy case and wants to receive all notices and documents filed with the court.

BRADENTON, Fla. — Florida Gov. Rick Scott Wednesday unveiled his 2013 budget proposal, which includes major cuts in spending and the state's borrowing program.

The potential ouster of the Jefferson County, Ala., sewer system's receiver in connection with the county's bankruptcy case could derail the long-held legal precedent that bonds secured by a specific pledge of revenues will continue to be paid during a Chapter 9 proceeding, according to creditors and industry participants.

Officials in Memphis are considering offering incentives to keep the headquarters of Morgan Keegan & Co., and its jobs, in the city if the firm is sold, according to the Commercial Appeal newspaper.

The troubled Clay County Gas Utility District has notified the bond market that, due to a lack of funds, it was unable to make Dec. 1 principal and interest payments on its Series 1998 bonds.