Bankruptcy

BRADENTON, Fla. - After nearly 10 months of inaction, investors of the defaulted bonds issued by North Florida's Santa Rosa Bay Bridge Authority may see restructuring negotiations get under way now that a governing board is in place.

Anchorage will drop its lawsuit against the Knik Arm Bridge and Toll Authority, which is proposing a controversial public-private toll bridge project, according to published reports.

Harrisburg's Chapter 9 bankruptcy filing immediately raised questions about the legality of the move as experts pondered the impact on the municipal bond market.

WASHINGTON - Public sector pensions should consider disclosing their projected future contributions in order to fare better in the marketplace, a bond lawyers' group said in guidance circulated earlier this month.

DALLAS - A coalition of school districts and taxpayers has filed suit in a Travis County state court to overturn Texas' system for funding public education.

BRADENTON, Fla. - The Santa Rosa County Commission is poised on Thursday to restore a quorum to the junk-rated Santa Rosa Bay Bridge Authority by appointing three new members. The Florida agency's board hasn't met since 2010 and it defaulted on a bond payment in July.

Two South Florida Republican legislators intend to push for Las Vegas-style casino resorts now that an appellate court has ruled that lawmakers can expand gambling without voter approval.

The U.S. 11th Circuit Court of Appeals on Friday refused to consider rehearing the appeal of former Jefferson County commissioner Larry Langford on his pay-to-play conviction.

CHICAGO - The Illinois secretary of state has temporarily suspended former Grigsby & Associates Inc. public finance banker Alvin J. Boutte Jr.'s license, accusing him of providing misleading advice to the Illinois Student Assistance Commission in its $12.8 million investment in a failed Chicago bank.

Nassau County, N.Y., could have a serious cash problem by the end of October unless it finalizes a budget by then, the chairman of a state-appointed oversight panel said.

SAN FRANCISCO - California Gov. Jerry Brown has signed legislation imposing new requirements local governments must meet before declaring bankruptcy.

The Kansas City Council last week asked a Jackson County Circuit Court judge to support its bid to block Clay Chastain’s $2.5 billion light-rail ballot initiative.

CHICAGO - A close look at Flint, Mich.'s long-standing fiscal problems provides a glimpse into the challenges facing many of America's older industrial cities, according to a case study released last week by Michigan public finance scholars.

California Gov. Jerry Brown Tuesday signed a bill that will strengthen the state auditor’s oversight of local governments in the wake of the scandal surrounding the city of Bell.

DALLAS - Harris County, Texas, is seeking $484,000 through mediation with Morgan Stanley for alleged overpayment of fees after reaching a $659,000 settlement with UBS, officials said.

While Dexia Group has a substantially reduced its footprint in the U.S. municipal market, its lingering financial woes are still a thorn in the side for some bond issues exposed to the troubled Franco-Belgian lender.

SAN FRANCISCO - Moody's Investors Service said the San Jose Redevelopment Agency's $1.7 billion of outstanding senior bonds could suffer should the RDA be forced to default on a floating-rate bond issue.

A major effort by the Legislature to privatize many of Florida’s prisons was ruled unconstitutional by a state judge last week.

Jefferson County said in a material-event notice Tuesday that it had another payment default on some of its outstanding sewer warrants.

SAN FRANCISCO - Windrush School, a 35-year-old private school located in the East Bay suburbs of San Francisco, filed for Chapter 11 protection in the U.S. Bankruptcy Court in Oakland last week when it couldn't reach a forbearance agreement with bondholders on $13 million of bonds issued in 2007.