Southeast

BRADENTON, Fla. — The ­Louisiana Citizens Property Insurance Corp. is seeking more than $10 million in damages in a federal suit against JPMorgan and Bear, Stearns & Co. over failed auction-rate securities that the state-run, nonprofit insurer was forced to refinance.

BRADENTON, Fla. — After more than a year of negotiations, New Orleans has filed an amended complaint in its federal suit against Ambac Assurance Corp., Ambac Financial Services LLC, PaineWebber Capital Services Inc., and UBS Securities LLC.

DALLAS — Louisiana’s remaining $1.4 billion capacity for Gulf Opportunity Zone bonds has been opened to economic development projects in all 31 parishes affected by the 2005 hurricanes with the end of the program that established two separate allocation pools.

WASHINGTON — South Carolina Gov. Mark Sanford’s proposed fiscal 2011 budget, submitted Thursday to lawmakers, would cut general fund spending by 5.3% but not raise taxes.

BRADENTON, Fla. — Facing a budget shortfall of $1.5 billion over the next two years, Kentucky Gov. Steve Beshear told lawmakers late Wednesday that efforts so far to restructure debt and cut expenses won’t be enough for the state to avoid more “painful decisions about where we spend money.”

BRADENTON, Fla. — Miami-Dade County next week plans to offer $600 million of aviation revenue bonds to continue financing for a major capital improvement program at Miami International Airport that is nearing completion.

WASHINGTON — The Metropolitan Washington Airports Authority yesterday announced a financing team for $250 million to $600 million of bonds it plans to sell in the spring to help finance the Dulles International Airport Metrorail extension.

BRADENTON, Fla. — Florida today expects to complete negotiated pricing of $263.4 million of Florida Forever revenue bonds, representing the last debt authorized for the state’s long-running environmental and conservation land-protection program.

Sean Connaughton, appointed by governor-elect Robert F. McDonnell to be secretary of transportation, will be jumping into his new position a month after the Virginia Department of Transportation lowered its revenue estimates for fiscal 2010.

Louisiana state Sen. Jack Donahue, R-Covington, told the Press Club of Baton Rouge this week that the Legislature should develop its own plan for dealing with a proposed $3 billion revenue shortfall over the next two fiscal years.