Florida Sues Two Tobacco Companies
After R.J. Reynolds sold four cigarette brands to ITG Brands, Florida Attorney General Pam Bondi sued the companies saying they have refused to comply with terms of the state's 1997 tobacco settlement...
View ArticleManatee School Board to Issue $150M in Bonds to Build 3 New Schools
The School Board of Manatee County, Fla., approved a resolution authorizing the issuance of up to $150 million in sales tax revenue bonds at Tuesday evening's board meeting.
View ArticleFacing a Budget Imbalance, Florida Considers New Gambling
With Florida facing a structural budget imbalance, lawmakers advanced a comprehensive gaming bill that would bring millions in new revenue and establish "predictability for our state budget," its...
View ArticleJudge Denies Former Miami Budget Director's Request for New Trial
A federal judge has denied former Miami budget director Michael Boudreaux's motion for a new trial after a jury found him guilty of securities fraud for misleading municipal bond investors, but he is...
View ArticleWith Sale Pending, Global Ministries Debt Downgraded
The bonds of 16 affordable housing properties affiliated with Global Ministries Fellowship were downgraded by S&P Global Ratings, sending 14 more of the credits to junk.
View ArticleFlorida's 'Booming Economy' Bolsters Governor's Budget
Florida Gov. Rick Scott unveiled a record $83.5 billion budget for fiscal 2018 that could set the stage for a confrontation with lawmakers over borrowing plans.
View ArticleNew Administration to Make PAB Decisions, USDOT Says
A federal court should dismiss two lawsuits challenging bond financing for the All Aboard Florida train project because the new administration will review future private-activity bond applications,...
View ArticleSanctuary Cities Order Foreshadows Turbulence for City Credits
President Trump's "sanctuary city" order is expected to foreshadow more long-term turbulence for urban-federal relations as the president sought to force compliance with his objectives by threatening...
View ArticleFlorida Health Systems to Integrate Amid 'Changing Landscape'
Lakeland Regional Health and Orlando Health disclosed to bondholders on EMMA that they have signed a letter of intent to create an integrated regional health care system.
View ArticleIRS Says Bonds for a Jail in Glades County, Florida May Be Taxable
The Glades Correctional Development Corp. in south-central Florida said that it received a preliminary Internal Revenue Service determination that its 2006 bonds violate the private activity use test.
View ArticleSoutheast Bond Volume Up Slightly in 2016
Issuers across the Southeast brought $71.7 billion of municipal bonds to market in 2016, a 3.3% year-over-year increase that was generated largely by refundings.
View ArticleFunding Fears Drive Miami-Dade's Rejection of 'Sanctuary' Designation
Facing the loss of millions in federal funds, the Miami-Dade County Commission voted to comply with immigration authorities' orders to hold jailed undocumented inmates regardless of the cost to the...
View ArticleA Drive for More PACE Oversight in California
California efforts to embed more consumer protections into PACE loans are advancing on two tracks.
View ArticleFlorida Jail Defaults Ahead of IRS-Required Bond Exchange
The Glades Correctional Development Corp. in south-central Florida shorted its March 1 debt-service payment, the trustee said in a notice, as the date for a taxable bond exchange approaches due to an...
View ArticleFlorida Lawmakers Break with Governor on Spending, Borrowing Policies
Florida legislative leaders signaled they are out of lockstep with the governor's policies on economic development, borrowing, and state spending as their legislative session began this week.
View ArticleSports Exec Tapped as New CEO at All Aboard Florida/Brightline
Sports industry consultant Dave Howard will lead Florida's privately owned passenger train project as Fortress Investment Group explores expanding All Aboard Florida's Brightline-branded service to...
View ArticleFlorida House Votes to Kill Economic Development Programs
The Florida House Friday voted to abolish Enterprise Florida, the state's business development program, and to establish strict controls over the Visit Florida tourism agency, drawing swift rebuke from...
View ArticleFlorida's Private Passenger Train Announces Service
All Aboard Florida said it anticipates launching its Brightline-branded private passenger train service between Miami and West Palm Beach in September, following an introductory roll-out phase.
View ArticleIRS Taxability Notice Sends Issuer Seeking Call Waiver, Federal Funds
The Baker Correctional Development Corp. is trying to get a waiver from a mandatory call and federal funds to refund bonds from tax-exempt to taxable, in the wake of an IRS finding that bonds are taxable.
View ArticleNew Panama City Beach Elementary School on Hold
PANAMA CITY, Fla. -- Plans for a new Beach Elementary School have been placed on hold because of a law scheduled to go into effect this year that will cap the amount districts can spend per student on...
View ArticleFlorida May Turn to Congress if High Court Favors Georgia in Water Dispute
The U.S. Supreme Court will consider a special master's recommendation, largely favoring Georgia and water agencies there, in the lawsuit Florida filed against Georgia over the apportionment of water...
View ArticleSEC: What Issuers and Lawyers Should Know About the Miami Case
Amie Riggle Berlin, the SEC's lawyer who handled its case against Miami and Michael Boudreaux, explained the important aspects of a reliance on professionals defense and the need for issuers to stay...
View ArticleClimate Change 'the Biggest Challenge ... Miami Will Ever Face,' Mayor Says
With two decades in public office coming to a close, the Republican mayor of Miami looked to the future Friday and saw a coastal city threatened by rising seas.
View ArticleTroubleshooter Calls Opa-locka Worst Mess He Has Ever Dealt with as He Bows Out
Widely recognized as South Florida's dean of public administrators, Merrett Stierheim says he has given up on Opa-locka's government and politicians after helping guide them through months of financial...
View ArticleFlorida Passenger Train Project Faces New Headwinds
All Aboard Florida is assuring supporters of the private passenger train project that it will move forward despite the sales of its owner and an affiliate and pending legislation that the company says...
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