Southeast

The New Orleans City Council last week adopted a $496.7 million operating budget for 2012 that keeps the city’s property tax rate unchanged despite an increase in assessed valuations this year.

The Orlando-Orange County Expressway Authority last week hired an interim executive director who currently works for a consulting firm that has contracts with the agency.

Former JPMorgan banker Douglas MacFaddin and the Securities and Exchange Commission are seeking court sanctions against former Jefferson County commissioner Shelia Smoot for failing to appear for depositions and produce documents on several occasions.

BRADENTON, Fla. — Even with debt issuance by Florida at a historic low this fiscal year, the state continues to exceed its self-imposed debt service cap as revenues remain weak.

BRADENTON, Fla. - The Securities and Exchange Commission has opened what appears to be a sweeping investigation into the new, largely bond-financed stadium for Major League Baseball's Miami Marlins.

BRADENTON, Fla. — The Santa Rosa Bay Bridge Authority's bond trustee, Bank of New York Mellon, has hired a financial advisor to assist with restructuring the Florida authority's defaulted bonds.

BRADENTON, Fla. — DeKalb County, Ga., next week plans to price $380 million of water and sewer revenue bonds in the first of several deals that will finance portions of its $1.34 billion, five-year capital improvement program.

Standard & Poor's on Tuesday lowered a portion of the Tennessee Valley Authority's debt to AA-minus from AA-plus because the authority is less likely to receive support from the federal government in times of distress, the rating agency said.

Louisiana Gov. Bobby Jindal will be sworn in for a second four-year term Jan. 9 at an inauguration he said would be smaller than the first one.

The trustees of the West Feliciana Parish School Board will consider a plan next month to call a property tax renewal election in April 2012.