2023 Flashcards
Authorized Investment WITHOUT an investment plan
Vs.
With a plan.
4 = no plan
9 = w/ plan.
When you DON’T have a plan, Surplus Markets Save the Treasury from the Federation of Israel’s Securities Investment Company Act.
1) LG Surplus Funds Trust Fund (or interlocal)
2) SEC money mkts w/ highest rating;
3) CDs or savings accts.
4) US Treasury obligations.
***
5) Fed. agencies.
6) Rated or unrated bonds backed by Full Faith & Credit of ISRAEAL.
7) Securities of investment company registered under the Investment Company Act.
———
(a) LG Surplus Funds Trust Fund or any intergovernmental investment pool authorized via Interlocal;
(b) SEC registered money market funds w/ highest credit quality rating from a nationally recognized rating agency.
(c) CDs or savings account bearing interest in a qualified public depository;
d) Direct obligations of the US Treasury.
(e) Federal agencies and instrumentalities.
(f) Rated or unrated bonds, notes, or instruments backed by the full faith and credit of the government of Israel.
(g) Securities of, or other interests in, any open-end or closed-end management-type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. ss. 80a-1 et seq., as amended from time to time, provided that the portfolio of such investment company or investment trust is limited to obligations of the United States Government or any agency or instrumentality thereof and to repurchase agreements fully collateralized by such United States Government obligations, and provided that such investment company or investment trust takes delivery of such collateral either directly or through an authorized custodian.
(h) Other investments authorized by law or by ordinance for a county or a municipality.
(i) Other investments authorized by law or by resolution for a school district or a special district.
Where can you invest if you have a plan?
When you have a plan, Surplus Markets Save Treasury Agents a Rating by Israeal’s Investment Company Act.
1) LG Surplus Funds Trust Fund (or interlocal)
2) SEC money mkts w/ highest rating;
3) CDs or savings accts.
4) US Treasury obligations.
5) Fed. agencies.
6) Rated or unrated bonds backed by Full Faith & Credit of ISRAEAL.
7) Securities of investment company registered under the Investment Company Act.
———
(a) LG Surplus Funds Trust Fund or any intergovernmental investment pool authorized via Interlocal;
(b) SEC registered money market funds w/ highest credit quality rating from a nationally recognized rating agency.
(c) CDs or savings account bearing interest in a qualified public depository;
d) Direct obligations of the US Treasury.
(e) Federal agencies and instrumentalities.
(f) Rated or unrated bonds, notes, or instruments backed by the full faith and credit of the government of Israel.
(g) Securities of, or other interests in, any open-end or closed-end management-type investment company or investment trust registered under the Investment Company Act of 1940, 15 U.S.C. ss. 80a-1 et seq., as amended from time to time, provided that the portfolio of such investment company or investment trust is limited to obligations of the United States Government or any agency or instrumentality thereof and to repurchase agreements fully collateralized by such United States Government obligations, and provided that such investment company or investment trust takes delivery of such collateral either directly or through an authorized custodian.
(h) Other investments authorized by law or by ordinance for a county or a municipality.
(i) Other investments authorized by law or by resolution for a school district or a special district.
How much is the CAP on Taxable Value of Non-Homestead Residential Property?
10%.
How much is the CAP on:
(a) Taxable Value of Non-Homestead Residential Property?
(b) Taxable Value of Non-Residential Property?
—-
What is expiration date of the cap?
10%. [eA - 3% for homestead (SOS)]
—-
Cap is permanent via Constitutional amendment.
What is the major difference between:
1) The non-homestead residential cap &
2) The non-residential cap?
The Legislature is
1) Required to provide for reassessment at just value upon the sale of the non-homestead residential property
&
2) May provide for such reassessment for non-residential property.
Is the non-homestead residential cap & the non-residential cap PERMANENT?
Yes, per voters to Constitutional Amendment
What is “double homestead”?
Amendment to Constitution providing for the doubling of the homestead exemption for all taking units except school districts.
How does double homestead work?
Everyone qualified for an exemption up to $25k.
Once you homestead’s assessed value exceeds $50k, you get 1$ for every $1k.
Value = $25k, Exemption = $25k.
Value = $49k, Exemption = $25k.
Value = $51k, Exemption = $26k.
Value = $75k, Exemption = $50k.
What is Save Our Homes?
Value cannot jump 3%.
What governs PERC actions?
Where appeal PERC decision?
FL Administrative Procedures Act.
District Court
Is there a duty to mitigate severance damages in ED?
No. But, Cost to cure is relevantonly to the extent it may have an impact upon FMV of the remaining property as of the moment of the taking, and not otherwise.
“Adutytomitigate. . . damages is something of a misnomer in this context,
because neither party has an obligation to cure or mitigate anything.” Id.
To what extent is cost to cure relevant in ED?
In SEVERANCE damages, cost to cure is relevantonly to the extent it may have an impact upon FMV of the remaining property as of the moment of the taking, and not otherwise.
“Adutytomitigate. . . damages is something of a misnomer in this context,
because neither party has an obligation to cure or mitigate anything.” Id.
Is there a duty to mitigate business damages?
Yes, A condemnee has a duty to mitigate his losses . . .,” Mulkey v. Division of Admin., State of Fla., Dept. of Transp., 448 So.2d 1062, 1067 (Fla. 2d DCA 1984);
What is considered if business owner moved during ED?
Why?
If the business relocates & continues to operate, this must be considered in business damages. Systems Components Corp. v. DOT, 14 So. 3d 967, 980 (Fla. 2009).
Why? Because total loss of the business is a fiction.
What 2 methods of finance are permitted for Munis via Ch. 170?
SAs on abutting or otherwise specially benefiting for:
1. Roads, sidewalks, street lighting, street furniture.
2. Sewers. water mains.
3. Parks.
4. Seawalls, dams, weirs, boatways.
5. Parking garages & public transport.
For what 6 things does 170 require referendum?
1.. Off street parking.
2. Parking garages.
3. Public transport.
—
Stabilize, promote, market, manage:
4. Business district.
5. Wholesale business district.
6. Nationally recognized historic district.
Does 170 give Muni extraterritorial powers?
If Muni legally obligated to provide WATER or SEWER to unincorporated area, may collect upon connection.
What kind of benefit is required of 170?
Different in type or degree from public as a whole.
How does 170 treat improvement of business or historic districts?
Subject to vote of affected property owners, can fund marketing, maintenance, operation of:
(a) Retail business districts,
(b) Wholesale business districts, or
(c) Nationally recognized historic districts,
Under 170, can Muni issue bond to fund ongoing operate retail business districts, wholesale business districts or nationally recognized historic districts?
No. Expressly states that it does not authorize a municipality to use bond proceeds to fund ongoing operations of these districts.
When does 170 require referendum?
SAs on:
1. Ag land w/o residence or non-residential bldg value (except pole barn) under $10k
2. Bonds for ongoing operations of business or historic districts.
———
170 requires referenda on
1) SAs for parking garage or mass transit.
When can SA for fire on ag land under 170?
No, free pass to ag land owner if he has a pole barn.
Pole barns are carved out.
———-
SAs for fire on ag land w/ residence or nonresidential farm bldg (pole barns don’t count) valued over $10k.
When does 170 require referendum?
- SAs for off-street parking, parking garages, mass transportation.
- SAs for marketing, maintenance, but can NEVER include operation of business or historic districts.
What can you NEVER do under 170 regardless of whether you held a referendum?
NEVER can SA for fire on ag land w/o residence or w/ a nonresidential farm bldg (not counting pole barn) valued less than $10k.
What are the 4 extraterritorial things Munis are forbidden to do?
(1) Annexation, merger, and exercise of extraterritorial power, which require general or special law pursuant to s. 2(c), Art. VIII of the State Constitution;
AND
Any subject:
(2) Expressly prohibited by the constitution;
(3) Expressly preempted to state or county government by the constitution or by general law; and
(4) Preempted by a Charter County.
What 6 territorial things are Munis forbidden to do?
- Affect the creation or existence of a municipality,
- Terms of elected officers & manner of election except for the selection of election dates and qualifying periods for candidates and for changes in terms of office necessitated by such changes in election dates,
- Distribution of powers among elected officers,
- Matters prescribed by the charter relating to appointive boards,
- Change in the form of govt.,
- Rts of muni employees, without approval by referendum of the electors as provided in s. 166.031.
What is a surprising thing Munis can do by ordinance w/o a referendum?
Redefine boundaries to include lands previously annexed.
What are the 2 affordable housing land use provisions?
125 & 166 have been amended to permit:
1) Inclusionary Housing Ordinances &
2) Linkage Fees.
What is an inclusionary housing ordinance?
125 & 166 permit requiring a developer of a new development to create a certain # of affordable housing units or to contribute money to such a fund.
What is a linkage fee?
125 & 166 permit imposing a linkage fee on a new development to defray the cost of affordable housing the new development will require.
Is Linkage Fee mandatory?
What 3 things must be proven?
It is the discretion of LG.
What must LG prove in the test of a linkage fee?
1) Essential nexus, i.e., fee is related to need for addtl. facilities created by the new development;
2) Fee does not exceed the cost of addtl. facilities; &
3) Fee is used for those new facilities.
How is a linkage fee NOT a Taking?
Not a Taking if:
1. Essential nexus b/c restriction & legit govt. int. &
2. Fee is proportional to the effects on the legit govt. int. created by the new development.
What did the FL Supreme Court say about linkage fees?
LGs may impose a fee on new development so long as:
1) Fee is related to a need for addtl facilities created by the new development &
2) Fee does not exceed the costs of additional facilities, &
3) Fees are used for the additional facilities.
What does an Inclusionary Housing Ordinance require from the Developer?
Developer to either:
1) Provide a specific # or % of affordable housing units w/i a development
OR
2) Contribute to a housing fund or other alternative.
What does an Inclusionary Housing Ordinance require of LG?
Give examples.
Provide incentives to FULLY offset all costs to the developer for its affordable housing.
1. Allow Developer density or intensity bonus incentives or more floor space than allowed
under the current or proposed future land use designations;
2. Reduce or waive fees, such as impact fees or water and sewer charges; or
3. Other types of incentives.
State 3 things LG must do in exchange for both:
1) Linkage Fee
2) Inclusionary Housing Ordinance.
- Allow Developer density or intensity bonus incentives or more floor space than allowed
under the current or proposed future land use designations; - Reduce or waive fees, such as impact fees or water and sewer charges; or
- Other types of incentives.
Can LG set a standard across-the-board rate of a linkage fee?
What 3 things can Linkage Fee be based off of?
Can be flat fee or %-based fee.
Calculated on the basis of:
1) # of approved dwelling units,
2) Amount of approved square footage, or
3) Otherwise.
If LGs make a new entity from 163, what 5 powers will it have?
- Make and enter Ks;
- Employ agencies or employees;
- Acquire, construct, manage, maintain, or operate buildings, works, or improvements;
- Acquire, hold, or dispose of property; and
- Incur debts, liabilities, or obligations which do not constitute the debts, liabilities, or obligations
of LGs.
Can a new 163 entity issue bonds?
Yes, for capital projects.
May exercise all powers in connection with the authorization, issuance, and sale
of bonds for the purpose of financing or refinancing any capital projects.
If new 163 entity issues bonds, whose debt is it?
Considered as issued on behalf of the counties or municipalities that enter into loan agreements w/ the 163 entity, for the bond proceeds.
What is a 163 new entity?
A separate legal entity created by interlocal agreement and controlled by a municipality, a county, or a combination thereof.
If 163 entity issues bonds, who can get the proceeds?
The proceeds may be loaned to LGs, wh/ or not such LGs are mbrs of the 163 entity issuing the bonds.
How come bond issued by 163 entity can be lent to LGs?
163 Entity issuing such bonds to fund a loan program for subsequently identified capital projects is deemed a paramount public purpose.
Can a 163 Entity issue Revenue Bonds?
Yes.
To loan such bond proceeds to LGs or a PRIVATE ENTITY for “self-liquidating” projects.
This includes private entities whether or not they are located within a county or municipality that is a
member of the entity issuing the bonds. The paramount purpose of the statute is expanded to include
making loans to private entities.
I’m sorry, did I hear you right that a 163 Entity can lend funds to private parties?
-To private entities located w/i 163 or its LG members?
—
If so, what kind of funds?
—
Why is this legal? I
Yepper.
-No, located anywhere. Doesn’t have to be located in the member County or member Muni.
—
Loan bond proceeds for self-liquidating projects.
—
Paramount purpose is expanded now to include making loans to private entities.
How to ADUs play into affordable housing?
Why would you count them?
Accessible Dwelling Units (kitchen, bath, bed) can be permitted by LGs in strictly SFR areas.
Counts towards CP element for housing.
What says that AV taxes must be uniform within a taxing unit?
—-
What can be non-uniform?
But, can’t exceed what amount?
Art. 7, Sec. 2.
—-
Intangible personal property tax. Not to exceed 2 mills on the dollar.
What if Muni wants to exempt new business from AV. Can it do that by ordinance?
After referendum, pass ordinance.
What 4 things require a referendum?
- Muni annexation.
- County or Muni to grant AV exemption for economic development to business per 196.1995;
- Creating special or neighborhood business improvement district per 163.511; &
- County charters.
How does muni annex?
2 hearings @ 7 & 5 days notice. Once voted, goes into effect in 10 days.
Do all or just landowners vote on muni annexation?
All registered voters of the area being annexed. Muni can also choose to submit a separate vote to registered voters of the municipality.
Is annexation vote held on special date?
Can be. Goes on next general Election Day or specially set.
Who can vote on muni annexation?
Definitely registered voters in the area being annexed. Muni can choose to submit it for a separate vote of the registered electors of the municipality.
If annexation fails, how soon try again?
2 years.
What comes first, special neighborhood improvement district or special residential improvement district or business improvement district?
163.511. First special neighborhood improvement district. Can then create business or residential by separate ordinances.
Can a special neighborhood improvement district exercise eminent domain?
It may depending on powers instilled. See FS 163.511.
Do citizens get a vote on a special neighborhood improvement district? Special residential improvement district? Or special business improvement district?
—-
When is voting restricted?
On the last 2.
freeholders only vote on business district.
Create special neighborhood improvement district.
Now want special residential improvement district or special business improvement district. What are the steps?
Pass ordinance & hold vote.
Can citizens initiate a special residential improvement district or a special business improvement district?
~remember, there are twice as many residents as businesses~
—-
Yes. Petition with signatures of 40% of voters in residential or 20% in business.