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To increase local government investment in housing, expand the use of special obligation bonds
How can our local government financially support additional development of affordable housing in our community? Gone (mostly) are the days when local governments didn’t perceive an affordable housing issue in their communities. And the answers are generally clear as...
Happy New Year!
As we get to the start of 2023, 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: Review compliance with your financing covenants. If you have...
Thinking about a 2023 Bond Referendum? Here are a few things to keep in mind
We’ve had a few inquiries in the last few months about planning for a 2023 bond referendum. If you’re thinking about it, here are a few points to keep in mind -- There are fewer eligible dates for bond referenda than there used to be. You can only have a bond...
The 45-day letter and State utility loans
We’ve written before about the requirement to send a notice to the “Joint Legislative Committee on Local Government,” with that notice due 45 days before the LGC considers a borrowing. It’s come up recently that not everyone is aware that requirement applies even when...
Five ways you can mess up your financing, before we’ve even heard about it
Bond lawyers and financial advisors clamor to be included in discussions about a financing project as early as possible. Sometimes you as a local government can take early steps on a project that will complicate your financing process. Bringing us in as soon as you...
Five Things to Remember about Your Private Partner When Starting a Public-Private Partnership
Your private partner is not your friend. They may all be nice people, and they may have a friendly demeanor in your meetings -- but they are not in your community to do you a favor. You need to look out for yourself, and be sure to verify everything they tell you....
NC Supreme Court finds no attorney-client privilege in internal investigation records that aren’t for “giving or receiving legal advice”
In Buckley, LLP v Series 1 of Oxford Ins. Comp., the North Carolina Supreme Court (per curiam) upheld a Business Court decision finding that records of an internal company investigation, even if carried out by an attorney, are not necessarily protected by the...
Public Records and Lawyer Confidentiality – Potential Changes
We have written previously (here and here) about the relationship between public records and a lawyer’s duty to maintain confidentiality for clients. As we’ve written, just because something is a public record, that doesn’t mean it’s not confidential information in...
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...
The “Black Tax” in the municipal bond world
Most of us have heard of the “Black Tax,” a shorthand reference to the ways that the structure of our society and economy imposes extra financial burdens on Black folks. It shows up even in our lovely little world of municipal finance. Black Tax: Evidence of Racial...