by Bob Jessup | Mar 10, 2014 | Blog
At this time of year, as we move into budget season, I think it’s a good idea to remind folks of a local government’s authority to issue “two-thirds” general obligation bonds. Under North Carolina law, a local government can issue general obligation bonds in a fiscal...
by Bob Jessup | Feb 24, 2014 | Blog
Ever since the LGC started its project to write down rules for the allowed maturities on local government financings, I have been highly critical of the proposed rules as they apply when local government units want to refinance debt originally issued to the United...
by Bob Jessup | Dec 18, 2013 | Blog
A North Carolina local government recently sent out a request for proposals for bond counsel services. That RFP included the following question – a form of this precise question has been included in the form of a bond counsel RFP that’s been bumping around the State...
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...
