Bankruptcy

Robert Shepard has resigned as the governor-appointed director of the North Texas Tollway Authority’s board. Shepard’s resignation comes as the board faces a probe into it past business practices by the Federal Bureau of Investigation, but his departure is said not to be related to that inquiry.

The effort by the Kansas City suburb of Mission to tax residents for roadwork is illegal and cannot be collected, Attorney General Derek Schmidt said last week in a non-binding opinion.

Trustees of National Park Community College last week postponed an April property tax election until its bond counsel can determine if the revenue can be used for capital improvements.

Capital city Harrisburg’s incinerator debt crisis is on the radar of federal investigators, the Patriot-News reported.

A ruling by a New Jersey tax court that the Red Bull Arena soccer stadium in Harrison is a taxable property is a credit positive for that community, Moody’s Investors Service said.

JPMorgan and Houston Astros owner James Crane are fighting an Alabama bankruptcy judge's order to open Crane's confidential settlement with the bank over $35 million of Jefferson County's defaulted auction-rate sewer warrants.

Three former muni bankers from UBS Financial Services Inc. will go to trial on July 9 on charges of fraud schemes and conspiracies in connection with the bidding of investment and other contracts for municipal bonds from as early as 2001 until 2006.

California legislative leaders are suing the state’s controller over the authority to suspend lawmakers’ pay for late budgets.

LOS ANGELES — Veteran public finance banker L. William Huck and real estate lawyer and developer Todd Anson have formed San Diego-based Common Bond Capital Partners to capitalize on an estimated $5 billion in defaults expected in the land-secured municipal bond market.

The New York Racing Association has failed to implement significant financial reforms after its 2008 exit from Chapter 11 bankruptcy protection, according to an audit by New York State Comptroller Thomas DiNapoli released Tuesday.

A federal court in New Jersey has approved a $24.9 million settlement between GE Funding Capital Market Services Inc. and the Securities and Exchange Commission over bid-rigging of municipal bond-related contracts, as well as the amounts of restitution to be distributed to each of the more than 325 state and local issuers that were defrauded.

BRADENTON, Fla. — Bankrupt Jefferson County, Ala., is once again suffering from an assault by Mother Nature as tornadoes and severe storms ripped through the county, killing several people and injuring dozens this weekend and into early Monday.

A forensic audit focusing on the incinerator bond deals largely responsible for driving Harrisburg into insolvency has prompted another request for federal investigations into the transactions.

MONROVIA, Calif.—Three weeks after the California Supreme Court affirmed legislation eradicating the state's community redevelopment agencies, local officials are scrambling to figure out what it means for them.

A federal bankruptcy judge’s approval of collective bargaining contracts between bankrupt Central Falls and retired employees is a credit positive for the city, according to Moody’s Investors Service.

The investor who holds $46 million of defaulted bonds issued by a Wisconsin tribe is taking aim at the financial and legal firms on the deal, accusing underwriter Stifel Nicolaus & Co. and bond counsel Godfrey & Kahn SC of misrepresenting the bonds' validity.

Facing a federal investigation of past practices, the North Texas Tollway Authority has adopted a new ethics policy that requires extensive disclosure and tighter strictures on conflicts of interest.

BRADENTON, Fla. — The Santa Rosa Bay Bridge Authority in north Florida cancelled its meeting set for Wednesday.

BRADENTON, Fla. — The U.S. Supreme Court Tuesday refused to review the conviction of former Jefferson County, Ala., Commission President Larry Langford.

BRADENTON, Fla. — The Santa Rosa Bay Bridge Authority meets Wednesday to continue working toward a resolution on its $115.9 million of defaulted bonds, which were sold to build a toll bridge in north Florida.