- In re Municipal Corrections, LLC, in which the District Court concluded that an unrecorded Indenture gave the Bond Trustee a mortgage on the real property pledged as security and that the mortgage was enforceable against a bona fide purchaser under principles of constructive and inquiry notice that apply under Georgia law.
- Turner County v. City of Ashburn, in which the Supreme Court of Georgia held that the section of the Local Option Sales Tax Act allowing the superior court to determine distribution of tax proceeds in special taxing district violated separation of powers.
- Mira Mar Development Corp. v. City of Coppell, Texas, in which the Court of Appeals engaged in a very thorough analysis of whether conditions imposed on developer were exactions and, if so, whether the City established (1) an essential nexus to the substantial advancement of a legitimate government interest, and (2) rough proportionality to the projected impact of the development.
- Ray v. Judicial Corrections Services, in which probationers’ civil rights claims against town that hired private company to provide probation and fee-collecting services survived motion to dismiss. This is an interesting case for those municipalities considering outsourcing certain judicial functions.
- U.S. States, Local Gov’ts Slow to Post Finance Reports.
- Debt-Ceiling Alarm Freezes Market With Least Supply: Muni Credit.
- GFOA Executive Board Approves 14 Best Practices.
- SEC Wants Muni Underwriters to Stay on Top of Disclosure.
- MSRB Publishes Introduction to Being Regulated for Municipal Advisors.
- MSRB Publishes Printable Version of its Online Glossary of Municipal Securities Terms.
- It’s been a very quiet week, folks. Almost feels as if certain government agencies are a little distracted, or sent folks home early or something. Not sure why. Columbus Day? Lest you despair at the prospect of perpetual gridlock, please note the ray of light introduced by Chuck Schumer via Senate Bill 1531; the Cider Investment and Development Through Excise Tax Reduction (CIDER) Act. So at least we’ve got that going for us. Which is nice.
- And finally, the concept “firm but fair” is stretched well beyone the breaking point by the Village of Park Forest Manager in an email to the Village Police Chief regarding a local apartment complex in which he states that, “I enjoy shoving it up their ass in a firm but diplomatic and professional manner.”