Bankruptcy

State revenues increased 6.9% in the fourth quarter of 2010, capping a full year of revenue growth and easing concerns that states should be able to file for bankruptcy protection, according to officials at the Nelson A. Rockefeller Institute of Government, which issued a report Tuesday.

The Securities and Exchange Commission will review bond-related documents that Harrisburg provides to investors.

WASHINGTON — The Securities and Exchange Commission announced Monday that investors can for the first time access detailed information that money market funds file with the SEC under changes to Rule 2a-7 that it implemented last year.

The takeover of a Long Island county’s finances by an oversight board last week looked like an opportunity to some investors who hoped to pick up an improving New York credit on the cheap.

Rhode Island Gov. Lincoln Chafee appointed a new receiver for fiscally troubled Central Falls on Monday. Chafee, who took office last month, appointed former state Supreme Court Justice Robert Flanders Jr. to replace retired Judge Mark Pfeiffer.

ALAMEDA, Calif. — A recent California appeals court ruling will require developers of many community facilities districts to pay so-called prevailing wages for all public improvements, whether or not they are financed with bonds.

CHICAGO — The Indiana Senate could vote as early as Tuesday on a bill that would allow fiscally distressed cities and towns to file for bankruptcy.

WASHINGTON — The Municipal Securities Rulemaking Board is exploring state public pension laws to see if there are common types of disclosures they could encourage issuers to submit to its Electronic Municipal Market Access site, MSRB officials told reporters Monday.

BRADENTON, Fla. — Flush with cash, Florida’s Citizens Property Insurance Corp. has increased the number of outside managers it uses to invest bond proceeds and other funds.

SAN FRANCISCO — Union workers are poised to fight a bankruptcy-exit proposal from Vallejo that has the California city paying them as little as 10 cents on the dollar.

CHICAGO — Allowing a lower court ruling invalidating Illinois’ $31 billion capital budget to take effect would “wreak havoc” on state operations and finances, the attorney general’s office warned Friday in its request that the state Supreme Court stay the decision.

SAN FRANCISCO — Victorville is in the hot seat.The city in Southern California’s high desert is facing a Securities and Exchange Commission probe into bond sales, a grand jury investigation into its finances, and inquiries from neighboring communities about its curious bond-financing practices.

CHICAGO — Chicago has backed off from its plan to sell $1.1 billion of O’Hare International Airport bonds next week as it fights a lawsuit filed by the airport’s two largest carriers challenging its authority to finish work on an $8 billion expansion plan without airline consent.

WASHINGTON — At least two House panels plan to hold hearings on states’ fiscal problems and potential solutions, including whether states should be allowed to file for bankruptcy protection.

CHICAGO — Three weeks after the Federal Trade Commission sued Promedica Health System, arguing it violated antitrust rules, the Ohio-based hospital chain is keeping a $249 million new-money deal on hold.

Richmond won an important legal battle related to a municipality’s right to fire union workers.

SAN FRANCISCO — Vallejo, Calif., has reached a tentative agreement with Union Bank that pays the bankrupt city’s largest creditor roughly 60 cents on the dollar.

West Virginia Gov. Earl Ray Tomblin issued a proclamation last week setting a date for the next governor’s election to be on Oct. 4, fulfilling a requirement by the state Supreme Court of Appeals.

CHICAGO — In a move prompted by the Securities and Exchange Commission’s heightened scrutiny of pension-disclosure practices, Illinois unveiled overhauled reporting standards in its latest bond offering statement that also announced a rise in unfunded pension liabilities to $75.7 billion and revealed a pending SEC inquiry.

ALAMEDA, Calif. — The primary lobbying group for municipal underwriters in California is under investigation by the Financial Industry Regulatory Authority.