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ZZZ0 A-RAMA 0 > Finance #s > Flashcards

Finance #s Flashcards

1
Q

When is a GOB subject to the referendum requirement?

A

Matures 1 year or more.

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2
Q

Do you need a 2nd vote for a refund?

A

No.

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3
Q

What’s a unique post-issuance exemption to Conduit bonds?

A

No need to file 2004 (fees paid).
Still have to file 2003 (gen info)

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4
Q

What are the 5 types of revenue bonds?

A

Typical COPS LAC TIF

1) Typical
2) COPs
3) Lease
4) spec Assessment
5) Conduit
4) TIF/CRA

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5
Q 
STATUTORY
-----------
TYPICAL REVENUE + GOB
-----------
What the maximum duration of a county bond?
A

40 yrs. Unless COPS = 30 yrs [no AV over 5]

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6
Q 
STATUTORY
-----------
TYPICAL REVENUE + GOB
-----------
What's the current max interest rate on a county bond?
A

7%

Statute has complex formula.

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7
Q 
STATUTORY
-----------
COPS
-----------
What are the 2 time limits on County lease purchasing COPS?
A
  1. Can’t exceed 30 yrs to mature.

2. If term is longer than 5 yrs, cannot pay from AV.

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8
Q

What does Pl do w/ its Order to Show Cause & on what timeline?

A

Publish once a week for 2 consecutive weeks.

1st publication 20 days before hearing.

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9
Q

Chapter 75 governs validation of bond/interlocal obligating payments?

A

TRUE.

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10
Q

How long must bond referendum notice be published?

A

30 days.

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11
Q

When must 1st notice be published?

A

5th week before election.

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12
Q

When must 2nd notice be published?

A

3rd week before election.

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13
Q

When must a test suit re: validity of referendum be filed?

A

Within 60 days of the election.

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14
Q

Defeated at referendum. New referendum for same purpose can be held in what period of time?

A

6 months

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15
Q

LGs may issue bonds payable from ad valorem taxes without a referendum if such bonds:

A

Mature w/i 1 yr.

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16
Q

State timing & frequency for publishing notice of bond referendum.

A

At least twice,
#1 in 5th wk + #2 in 3rd wk b/4 election wk.
1st publication @ least 30 days b/4 election

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17
Q

LGs in FL can issue bonds backed by the taxing power of the LG w/o a referendum if such bonds mature in less than 5 years from the date of issuance.

A

FALSE

1 year

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18
Q

Notice of a bond referendum must be published at least 30 days prior to the referendum,
at least twice,
once in the 3rd week and once in the 5th week prior to the date of the referendum.

A

TRUE

perhaps remember that 5 wks x 7 days/wk = 35 days
35 is ‘at least’ 30 days before

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19
Q

If a bond issue is defeated at referendum, a new referendum can be held on the same bond issue no earlier than three months from the date of the first referendum.

A

FALSE , 6 months

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20
Q

How long does Taxpayer have to file a test suit to challenge referendum?

A

60 days.

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21
Q

How long before LG can hold a referendum on a failed issue?

A

6 months

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22
Q

What type of bonds are impacted by State reporting & financial disclosure requirements?

A

All GOB & revenue bonds that mature 1 year or more.

But not bond anticipation notes.

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23
Q

What are the bond info forms?

A 
POST-ISSUE NOTICE
-----------
2003 = gen info, when you can
2004-A + 2004-B = fees, 120 days
-----------
No 2004 for conduit (who never gets AV).
24
Q

What is disclosed in 2003?

A

General info, names & addresses of participants.

25
Q

What is deadline to file 2003?

A

As soon as possible after bonds issued.

26
Q

What is disclosed in 2004?
What might be included in the filing of 2004?

A

Fees paid by underwriter and LG, incl attorney + consultant.

Official Statement, if one issued.

27
Q

What is deadline to file 2004?

A

Within 120 days of issuance.

28
Q

How much notice to public of bond sale?

A

10 days.

29
Q

LG give advance notice of sale to Div of Bond Finance for: __________ and __________, but only if __________.

A

GOB & revenue bonds, but only if the bonds mature in more than 1 year

30
Q

For what bonds must Form 2004, re: sale info, must be filed for?

A

All GOBs and revenue bonds maturing in more than 1 year, but not:

(a) conduit financings
(b) bond anticipation notes

31
Q

If bonds mature in less than 1 year, are bond info forms required to be filed w/ Div of Bond Finance?

A

NO
More than 1 yr, but not:
(a) conduit financings
(b) bond anticipation notes

32
Q

Notice of the sale of bonds by a LG must be published at least 30 days prior to the sale date.

A

FALSE, 10 days

33
Q

1 year or more

A

Referendum requirement.

GOBs for capital projects only.

34
Q

30 days

A

Referendum notice, 5th week & 3rd week.

35
Q

60 days

A

Test suit

36
Q

6 months

A

Referendum on failed issue.

37
Q

10 days

A

Notice of sale of bonds.

38
Q

60 days

A

Test suit, re: election

39
Q

120 days

A

File 2004

40
Q

Referendum requirement

A

1 year

41
Q

Referendum notice

A

30 days, 5th week & 3rd week.

42
Q

Test suit

A

60 days

43
Q

Notice of sale of bonds

A

10 days

44
Q

Referendum on failed issue.

A

6 months

45
Q

File 2004

A

120 days

46
Q

Notice of show cause order in bond validation?

A

2 times in 20 days

“show cz” = 2 words

47
Q

Is anyone exempt from post-issue annual disclosures?

A

Small Issuer Exemption. Requires:

(a) $10M or less aggregate.
(b) Agreement to disclose financial info if requested & material events if they occur.
(c) Contact info of the discloser on the Official Statement.

48
Q

How long do you have to disclose a Material Event?

A

In a “timely manner” not more than 10 business days after the event.

49
Q

What are the 2 requirements to be a special assessment?

A

(1) Property recs special benefit.

(2) Assessment was fairly apportioned

50
Q 
IMPACT FEE
-----------
New 2021 - 
-----------
What are the 4 new restrictions on LG's ability to increase impact fees?
A 
Retroactive to January 1, 2021: 
From date adopted:
1.	Increase 0-25% in 2 equal annual installments;
2.	Increase 25-50%, 4 equal installments;
3.	Cannot exceed 50% of current; and
4.	Increase only every 4 yrs UNLESS
a)	Demonstrated-need study justifies;
b)	Extraordinary circumstances;
c)	2 publicly noticed workshops, & 
d)	Adopts by 2/3 vote.
51
Q

How much notice must LG give before imposing new or increased impact fee?

A

90 days.

52
Q 
IMPACT FEE
-----------
New 2021 -
-----------
How often can LG increase its impact fee?
A 
IMPACT FEE
-----------
New 2021 -
-----------
Increase only every 4 yrs UNLESS
a)	Demonstrated-need study justifies;
b)	Extraordinary circumstances;
c)	2 publicly noticed workshops, & 
d)	Adopts by 2/3 vote.
53
Q 
IMPACT FEE
-----------
New 2021 -
-----------
If LG wants to increase impact fee 0-25%, how many installments are required?
A 
IMPACT FEE
-----------
New 2021 -
-----------
2.
54
Q 
IMPACT FEE
-----------
New 2021 -
-----------
If LG wants to increase impact fee 26-50%, how many installments are required?
A 
IMPACT FEE
-----------
New 2021 -
-----------
4.
55
Q 
IMPACT FEE
-----------
New 2021 -
-----------
If LG wants to increase impact fee 51%+, how many installments are required?
A 
IMPACT FEE
-----------
New 2021 -
-----------
0.  Can't do it.
56
Q

What 3 things are required for justify an impact fee?

A

to justify the exact Purpose must Connect the Data

  1. Has a public Purpose
  2. Connection [Ex/Antic Needs + New/Improve]
  3. Amt is based on best and most recent localized Data.

ZZZ0 A-RAMA 0 (216 decks)

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