Bankruptcy

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.

Moody’s Investors Service said it is taking no immediate rating action after the Oklahoma Supreme Court reversed a $7.1 million settlement between Tulsa and the Bank of Oklahoma on a loan default.

LOS ANGELES - The San Diego Unified School District, despite double-A ratings, has put California lawmakers on notice that if proposed trigger cuts are implemented, it could be facing insolvency in the next two years.

Standard & Poor’s lowered its long-term rating on the Philadelphia Hospitals and Higher Education Facilities Authority’s revenue bonds, issued for Temple University Health System, to BBB-minus from BBB.

Moody’s Investors Service has placed the Ba3 rating on the Harrisburg Parking Authority’s $18 million of outstanding guaranteed Series 2007T revenue bonds on review for possible downgrade.

BRADENTON, Fla. - Memphis is exploring its legal options, including a lawsuit, against the National Basketball Association's Memphis Grizzlies if the NBA's lockout develops into a full-season loss.

SAN FRANCISCO - A California health care district is swaying once again on the edge of bankruptcy after emerging from Chapter 9 protection only three years ago.

The California Supreme Court said it will hear arguments Nov. 10 in San Francisco in a case that will likely decide the future of redevelopment agencies in the state.

BRADENTON, Fla. - The Jefferson County sewer default saga isn't over, even after county commissioners announced a settlement agreement last month with creditors who hold more than $3 billion in defaulted sewer warrants.

The mayor of Santa Ana, Calif., dismissed reports that the city - facing a $24 million deficit in 2012 - is on the verge of bankruptcy.