Southeast

DALLAS — New Orleans Mayor Ray Nagin on Friday outlined a 2010 general fund budget that relies on more vigorous revenue collection and cuts to departmental budgets to plug a $67.7 million deficit.

WASHINGTON — The Virginia Resources Authority on Thursday expects to sell $173.3 million of municipal bonds, including $68.7 million of direct-pay Build America Bonds, in a pooled transaction to make loans to 15 local borrowers for infrastructure and other projects.

BRADENTON, Fla. — Burdened by millions in unfunded pension obligations, Prichard, Ala., on Tuesday filed notice in federal court of its intention to enter Chapter 9 municipal bankruptcy — for a second time.

BRADENTON, Fla. — Larry Langford, convicted on 60 bond-related corruption felony charges late Wednesday, was removed from office as Birmingham’s mayor.

BRADENTON, Fla. — ­Birmingham, Ala., Mayor Larry Langford was convicted on 60 federal charges, nearly all related to his tenure as president of the Jefferson County Commission when $3.2 billion of sewer debt was refinanced.

BRADENTON, Fla. — Georgia next week plans to bring $700 million of new-money and refunding general obligation bonds to market. As much as $400 million of the offering is expected to sell as the state’s first taxable Build America Bond transaction.

BRADENTON, Fla. — The Kentucky State Property and Buildings Commission today expects to complete pricing $393.3 million of new-money lease revenue bonds, a large portion of which is expected to sell as taxable Build America Bonds.

DALLAS — Louisiana officials were gratified Tuesday with significant investor interest in the state’s first offering of new-money debt in three years.

BRADENTON, Fla. — The pay-to-play corruption trial of Birmingham, Ala., Mayor Larry Langford began last Monday in Tuscaloosa, and before the week ended two of the government’s star witnesses described their roles in bribing Langford while he was president of the Jefferson County commission.

BRADENTON, Fla. — Top Florida officials are considering calling a special session of the Legislature in early December to solve problems that could prevent the state from getting federal stimulus funds for a variety of rail projects.