Southeast

DALLAS — A Jefferson County, Ala., circuit judge on Friday gave total control over all finances of the county's sewer utility to the court-appointed receiver of the system, which is in default on more than $3 billion of revenue debt.

Shreveport, La., has scheduled the single largest bond issue in the city's history. Next week's sale of $81.5 million of general obligation debt will be the first tranche from a $175 million bond authorization.

The Atlanta City Council last week unanimously approved sweeping reforms to the city's retirement plan that will allow the city to avoid layoffs and cuts in service, and bolsters its fiscal stability, officials said.

Standard & Poor's last week dropped Sarasota County's limited ad valorem tax bonds four notches to BBB from A-plus.

Alabama Gov. Robert Bentley softened his stance on supporting bankruptcy for Jefferson County last week, according to the Birmingham News.

BRADENTON, Fla. - Santa Rosa Bay Bridge Authority bondholders did not get paid July 1, according to the Florida agency's trustee, Bank of New York Mellon.

BRADENTON, Fla. - Miami has suffered several rating downgrades in the last two weeks as the financially stressed city plans to bring a refunding to market.

BRADENTON, Fla. - Lambuth University in Jackson, Tenn., closed down academic operations Thursday while administrative offices remained open and negotiations continued with various parties for the payment of debts, including outstanding bonds.

BRADENTON, Fla. - A last-ditch effort to prevent the Santa Rosa Bay Bridge Authority in northwest Florida from a bond payment default has failed and the remaining member of the board plans to resign next week.

The Rankin County School Board is planning to ask voters to authorize the issuance of $169.5 million of general obligation bonds.