Law and legal issues

Former Maverick County Commissioner Cesar Flores has been sentenced to 10 years in federal prison for his role in a bribery and bid-rigging scheme involving state highway funds. Fourteen others have been convicted.

Members of a banking committee approved a Nebraska bill that would favor bondholders over pensioners in the event of a bankruptcy, sending the measure to the floor of the Legislature.

A bill designed to ease Detroit's first appearance in the public debt market since its bankruptcy sailed through a Michigan legislative committee and could come before the Senate next week.

Ferguson police engaged in unlawful and discriminatory practices partially driven by the city's reliance on court fine revenue to support its budget, according to a stinging report by the federal government prompted by the fatal shooting of Michael Brown.

Standard & Poor's lowered its ratings on Sweet Briar College's bonds to B-minus from BBB due to a recent decision to close the central Virginia woman's college.

Officials from Nebraska’s largest cities urged lawmakers not to put “Goldman Sachs ahead of the common citizen” by advancing a bill that would favor bondholders over pensioners in the event of a bankruptcy.

Former Rhode Island House Speaker Gordon Fox pleads guilty to federal charges of bribery, wire fraud and failure to file tax returns.

A California lawmaker introduced a bill that would add language to school district bonds that would protect investors in the event of bankruptcy.

Hospital credits could be hurt if the Supreme Court strikes down federal health insurance subsidies established by the Affordable Care Act, Moody's Investors Service said Tuesday.

Unions have weighed in with their brief as the Illinois Supreme Court prepares to hear oral arguments March 11 in the state's appeal of a lower court ruling voiding the legislative package that cut benefits for four of the state's five pension funds.

LaSalle County, Texas, is trying to take over operation of a for-profit prison after the private operator quit its contract for the damaged facility.

The demise of Doral Bank in Puerto Rico may lead to a default on more than $34 million in municipal bonds and notes.

Standard & Poor's revised its outlook to positive on Moberly, Missouri’s B issuer credit rating in the city's first good rating news since the sucralose factory debacle that cost it investment-grade ratings.

Two northwest Indiana counties will nail down the final details of their tax-exempt bond-financed bid for the bankrupt Indiana Toll Road over the next two weeks.

Standard & Poor's raised several Stockton, Calif. water system bond ratings

Standard & Poor's lowered its rating on Hillview, Ky.'s bonds four notches to BB-plus citing a potential $11.4 million damage assessment that could land the city in bankruptcy court.

A Rhode Island Superior Court judge rejected a motion by the state to delay the start of a suit challenging the landmark 2011 pension law as unconstitutional.

New York City public advocate Letitia James has filed a friend of the court brief in support of the Securities and Exchange Commission's pay-to-play restriction on investment advisers, which is under attack in a lawsuit filed by two state Republican parties last year.

Litigation seeking to block Chicago from implementing its 2014 pension reforms until a legal challenge is decided was put on hold at the plaintiffs' request.

A Feb. 23 New Jersey State Superior Court ruling saying pension contributions are contractually protected is a credit negative for the Garden State since it adds a further obstacle to cutting future employee benefits that will further pressure budgets, according to Moody's Investors Service.