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Happy New Year! Annual reminders for debt planning and management
Happy New Year! As 2021 begins, we offer this list of items to keep in mind as you plan for new capital projects and manage your existing projects. Here are a few things to think about at least once a year: Compliance with financing covenants. If you have any...
Assembling land for local economic development – two local government case studies
Over the last few months, we have worked as bond counsel with two towns that wanted to assemble land for economic development, and that needed to borrow money to pay for the land. The towns took different approaches that illustrate the flexibility available for this...
Some softening of the LGC audit “blackout” policy this year?
The LGC’s policy has been to not approve financings in November (or later) for a local government until it has approved that unit’s new audit. The LGC’s refusal to approve new borrowings is one of the few tools the Treasurer’s office has to force local governments to...
Don’t hang around and let your problems surround you. A loan or grant program can help your community today.
“When you’re alone and life is making you lonely, you can always go downtown. When you’ve got worries, all the noise and the hurry seems to help, I know, downtown.” Downtown plays a vital role in our lives and the health of our communities. It is a major...
Borrowing in anticipation of the receipt of taxes for North Carolina local governments
North Carolina local governments rarely have cash flow problems. Fund balances, on-going sales tax receipts and the predictability of property tax collections in January allow localities to manage their cash with predictability and a healthy safety margin. We all hope...
Financing for sidewalk projects
We’ve had a few questions recently about funding sidewalk projects. Sidewalks are expensive, so it’s hard to rely on stretched general fund tax revenues to fund sidewalks on a pay-as-you-go...
Keep your local authorities and nonprofits in good working condition
Keep your local authorities and nonprofits in good working condition Every county has an industrial authority (whether you know it or not). Most cities and towns will have a housing authority (sometimes whether you know it or not). Did you ever create a nonprofit...
Did you know the authority for special obligation bonds was repealed?
On June 21 of last year, the Governor signed Session Law 2019-32. This law reorganized several state boards and commissions, as was required after some litigation between the Governor and the legislature. Section 1.(d) of that session law repealed Chapter 159I of the...
The (very) basics of local government borrowing in North Carolina
We had an inquiry about setting out the very basics of how a local government can borrow money in North Carolina. This could be shared with governing board members or staff that might be new to local government. Here’s what we came up with. We hope that...
Project Santa Recap
We hope it’s no secret how much our firm appreciates our friends across this great state. Thanks to you, Project Santa at Sanford Holshouser brought plenty of cheer to our Carrboro office. We sent out a request for ornaments that represented your neck of the woods in...