Law and legal issues

Atlantic City has tapped financial advisors PFM Group and NW Financial to assist with its recovery plan needed to avoid state intervention.

The small Florida city of Opa-locka is on the verge of bankruptcy, according to the head of a state-appointed oversight board.

Atlantic City is slated to receive a $74 million bridge loan from New Jersey to avoid an August 1 default after the City Council voted to accept the state's repayment terms.

The Securities and Exchange Commission was legally required by fiscal 2016 appropriation act provisions to reject changes to Rule G-37 that extended political contribution restrictions to municipal advisors, three state Republican groups told federal appeals court judges.

The Securities and Exchange Commission is arguing it can't fight a lawsuit challenging a revised rule to curb municipal securities pay-to-play activity because the fiscal 2016 appropriations act prohibits it from spending money on any rules governing political contributions.

Atlantic City will default unless reaches agreement with the New Jersey state government on a bridge loan, according to Moody's Investors Service.

Leon County, Fla., home of the state capital in Tallahassee, will offer a new countywide residential and commercial PACE programs after years of planning and legal setbacks.

A new arena for the National Basketball Association's Golden State Warriors remained on track after a San Francisco Superior Court upheld its environmental review this month, although it faces continued appeals and resistance.

Federal corruption charges against a former state treasurer did not motivate a probe of Pennsylvania's two public pension systems, said state Auditor Eugene DePasquale.

The NBA blamed a law passed by North Carolina seen as discriminatory toward the LGBTQ community for its decision to yank the 2017 All-Star Game out of Charlotte.

A California Supreme Court ruling removes one obstacle for Gov. Jerry Brown’s $15.7 billion plan to build two giant water tunnels in the Sacramento-San Joaquin Delta.

Assured Guaranty subsidiaries sued Puerto Rico over its diversion of toll revenues that had supported insured bonds.

A court ruling Thursday offered a mixed outcome for Chicago’s effort to phase out most retiree healthcare subsidies.

Biotech Amgen has agreed to pay $95 million to settle a class action filed on behalf of investors with Connecticut Retirement Plans and Trust Funds as lead plaintiff.

The Hawaii House and Senate overrode the governor's veto of a bill he said could lead to a downgrade of the state's bonds.

Six hedge and investment funds holding Puerto Rico general obligation bonds sued Puerto Rico leaders Wednesday, seeking the government to use its money to pay GO bonds.

The Federal Housing Administration said it will begin insuring mortgages on certain properties that include PACE assessments if the obligation is treated like a property tax and it does not have priority status over the FHA mortgage lien.

A federal appeals court ruling that allows Fort Worth, Texas, to reduce pension benefits is a positive credit factor for the city and others seeking to adjust to growing obligations, according to Moody's Investors Service.

A Michigan board has authorized key pieces of the $617 million restructuring of the Detroit Public Schools amid lingering market questions over the fate of the district's bonds.

Philadelphia City Controller Alan Butkovitz has recommended that the Pennsylvania Intergovernmental Cooperation Authority (PICA) accept the city's five-year budget plan while also warning against potential litigation from a new sugary drink tax.