Bankruptcy

CHICAGO - Detroit Mayor Dave Bing on Thursday publicly raised the specter that perhaps only a state-appointed emergency manager will have the tools necessary to solve the long-troubled city's financial woes. He left the door open to the possibility of taking on the role.

Adventist Health closed a deal Monday to take over the formerly bankrupt Sierra Kings Heath Care District’s Central California clinics and hospital.

Vallejo officially exited from Chapter 9 bankruptcy protection on Tuesday after finally satisfying the conditions of its plan that was approved in early August by a bankruptcy judge.

LOS ANGELES - The Reno Redevelopment Agency in Nevada recently went into technical default on a bond issue, and its larger fight for solvency has triggered a funding squabble with Washoe County.

An arbitration award that ends minimum staffing levels for firefighters could save Bethlehem, Pa., about $1 million annually, according to the city's mayor.

Financially strapped Harrisburg wants all sides, including bondholders, to make concessions, the mayor of Pennsylvania's capital city said Wednesday.

Florida is appealing a judge’s September ruling that struck down its attempt to privatize 29 of the state’s prisons.

The Birmingham City Council Tuesday urged Jefferson County to file for bankruptcy immediately, and asked Gov. Robert Bentley not to call a special session of the Legislature to assist the county with its debt and budget problems.

A bankruptcy judge in Harrisburg said Tuesday that special court approval for payments to vendors is unnecessary in Pennsylvania's capital city.

SAN FRANCISCO - Washington anti-tax and initiative crusader Tim Eyman has filed a lawsuit to try to void the state's $519 million bond deal for a floating bridge project.

Harrisburg, Pa., Mayor Linda Thompson has requested that the judge overseeing the City Council's bankruptcy filing authorize expenses to vendors.

A Ramsey County, Minn., judge gave final approval to a class action settlement between the St. Paul Port Authority and investors holding $51.7 million of defaulted industrial revenue bonds, putting an end to five years of litigation over the long-troubled 876 Bond Fund.

Harrisburg's City Council will hold a special meeting at 6 p.m. Monday with Mayor Linda Thompson and Pennsylvania officials to discuss recently enacted legislation authorizing a state takeover of the city.

CHICAGO - Reversing a recent decision, the Obama administration Monday said Ohio could use a small federal grant to finance Republican Gov. John Kasich's effort to privatize the Ohio Turnpike.

BRADENTON, Fla. - The North Carolina Turnpike Authority expects to move forward as soon as possible with the remainder of the financing for its second toll road following Tuesday's final judgment in a federal case that stalled the project for nearly a year.

SAN FRANCISCO - Some California redevelopment agency bonds with poor backstops will face credit stress if legislation to disband the agencies or force large payouts is upheld in court, according to Standard & Poor's.

CHICAGO - A recent ruling by the Nebraska Department of Revenue effectively removes the use of lease-purchase agreements as a tool to finance municipal projects, and the impact is reverberating throughout the state.

DALLAS - School districts across Texas are lining up to join one of three filed or anticipated lawsuits that contend the state's system for funding public education is unconstitutional.

Pennsylvania Gov. Tom Corbett late Monday declared a fiscal emergency in Harrisburg, calling the move necessary to ensure maintenance of vital municipal services.

SAN FRANCISCO - Stockton, Calif., is facing the rising specter of a technical default on its redevelopment agency debt, as it will likely have to dip into reserves to pay debt service for $87 million of outstanding bonds.