Phrases, FIN Flashcards
CC STOP
When analyzing bond look for limits in these things & include them in the requisite resolution:
1) Constitution - public purpose
2) Contracts
3) Statutes
4) Ordinances
5) Pledge
What connections must be shown:
exactions AND impact fees
Connection b/w the
🔸Ex & his anticipated needs
🔸New developmt & his capital improvements
———–
1. Reas connection b/w required exaction & anticipated needs of the community due to the impacts of the new development
AND
2. Reas connection b/w impacts of new development & the capital improvements being funded by the exaction.
What 3 things are required for justify an impact fee?
to justify the exact Purpose must Connect the Data
- Has a public Purpose
- Connection [Ex/Antic Needs + New/Improve]
- Amt is based on best and most recent localized Data.
What are the 6 types of revenue bonds?
Typical COPS LAC TIF
1) Typical
2) COPs
3) Lease
4) spec Assessment
5) Conduit
6) TIF/CRA
What are the constitutional limits on bond issuance?
Constitutional Restrictions can’t Purposely Lend Credit or Mortgage an Extraterrestrial ----------- 1. Public Purpose 2. No lending of credit 3. No mortgage 4. Extraterritorial Powers
In declaring public purpose of a bond, state the powers of Charter County.
Charter: All pwrs of self govt NOT INCONSISTENT W/ general law.
———–
How remember:
c”H”arter is alphabetically close to “I”nconsitent.
In declaring public purpose of a bond, state powers of non-charter county.
How remember:
“’N’on Charter” is alphabetically close to “P”rovided.
In declaring public purpose of a bond, state powers of a municipality.
Muni:
Govtl, corporate and proprietary pwrs
To conduct govt, perform functs + services:
(a) For muni purposes
(b) Except as OTHERWISE PROVIDED BY LAW.
An Order to Show Cause in a bond validation proceeding must be published:
(a) once a week for 4 weeks, the 1st publication at least 30 days prior to the hearing date
(b) once at least 20 days prior to the hearing date
(c) once a week for 2 weeks, the 1st publication at least 20 days prior to the hearing date
(d) none of the above
C
How remember?
“show cause” is 2 words. Publish 2 times, 20 days
Notice of a bond referendum must be published at least
A) 30 days prior to the referendum,
B) 2x.
&
C) (1 x 5th wk) + (1 x 3rd wk) before vote.
TRUE
perhaps remember that 5 wks x 7 days/wk = 35 days
35 is ‘at least’ 30 days before
———–
I tend to confuse this w/ Amending CP notice:
2 ads wkdys, 1 @ 5 p.m. unless maj + 1 (Marion)
TRANSMITTAL HEARING
On a weekday @ least 7 days after date of 1st ad.
later can have hearing
ADOPTION HEARING
No earlier than 10 days after 1st hearing, on a weekday @ least 5 days after date of 2nd ad.
What do spec dist include?
Hospital (is on) Fire (get) Water (go to) Airport.
What are PILOT agreements?
Pilots are not sovereigns imposing taxes.
———–
PILOT (payments in lieu of taxes) agreement are imposed under the proprietary powers of government (not sovereign right) and the payments are not invalid as taxes.
State 4 ways LG must handle its accounting re: Impact Fees.
I Account for my Separate Ears that are Unrelated & Equal.
(1) Provide for accounting & keep $ separate.
(2) Earmark $ for capital improvements for new users.
(3) Can’t $ to pay debt on unrelated projects.
(4) Admin charges = actual costs.
IMPACT FEE ----------- New 2021 - ----------- How often can LG increase its impact fee?
New 2021 - ----------- Every 4 yrs my SEWing increases by 2/3. --- how remember '4'? there are 4 criteria :) --- CAREFUL - rvw CP @ 7 (Spec Dist agenda = 7 days, not advisory bd but S.D.) ----------- 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.
State the 2 phrases re: special assessments vs. special districts.
Districts include:
On a Special day the Hospital is on Fire, get Water, go to Airport
———–
Assessments buy: on a Special nite, take the Lit Road to the Park. in an emergency, take the Sewer Drain to the Sea.
