by Bob Jessup | Dec 2, 2013 | Blog
Here’s an excellent article on local counsel’s role in local government financing. I think this is a succinct roadmap of how local counsel should approach a transaction. Local counsel isn’t supposed to check everyone’s work, but there are certain ways the local...
by Bob Jessup | Nov 12, 2013 | Blog
We now have the official calendar for meetings of the Local Government Commission for 2014. I thought a LGC Calendar Table might be handy. The calendar gives you the date 28 days prior to the meeting, because generally the Commission staff wants a fairly complete...
by Bob Jessup | Sep 5, 2013 | Blog
The Internal Revenue Service has rules in place that limit a local government’s ability to use financing proceeds to reimburse itself for project expenditures made before you actually close on your financing. Even those rules are now more than 20 years old, I...
by Bob Jessup | Sep 4, 2013 | Blog
One of the most common inquiries I see on a finance officers’ listserv I follow is for the form of an RFP that can go out to banks for quotes on an installment financing. I’ve attached here the form of an RFP I have used often with my clients. Now, updating this form...
by Bob Jessup | Aug 15, 2013 | Blog
There’s a law that says if you have a local government borrowing for more than $1 million that has to go to the LGC for approval, you generally need to send an advance notice to the General Assembly’s joint committee on local government 45 days prior to the LGC’s...
by Bob Jessup | Aug 15, 2013 | Blog
Under both North Carolina law and the relevant federal tax rules, you can generally use borrowed money only to pay for “capital costs” of a project. What’s a capital cost? The primary rule I quote to clients, which comes out of the tax regulations, is that a cost is a...
