Deloitte Playbook for Implementing T+2 Settlement Cycle in the U.S.
MSRB Publishes Educational Resources on Municipal Advisor Conduct Rule.
BDA Submits Comment Letter to the SEC: FINRA Rule 4210 “TBA” Margin Amendments.
Municipal Bond Premiums: Separating Fact from Fiction.
Why Consolidations in Municipal Evaluations Landscape Signal ‘Tectonic Shift’ for Industry.
Colo. Court Case Puts Spotlight on Special Districts that Issue Munis.
CDFA Webcast: Financing Water Infrastructure.
Landmark Towers Association, Inc. v. UMB Bank, N.A. – Court of Appeals holds that organizers’ option contracts for purchase of undivided 1/20 interest in 100-square-foot parcel within proposed special district were sham contracts, and therefore organizers were not eligible electors for purposes of special district bond and tax election; condo purchasers within the district, who were parties to contracts obligating them to close as soon as purchased units were completed and obligating them to pay pro-rated property taxes from date of closing to end of year, qualified as eligible electors.
City of Chesapeake v. Dominion SecurityPlus Self Storage, L.L.C. – Supreme Court of Virginia holds that subdivision plat that reserved 50-foot right of way in favor of city for purposes of future expansion of highway constituted a waiver of damages to residue of property, including waiver of loss of direct access to highway and loss of visibility, after city condemned right of way.
And finally, BCB’s Practice Tip of the Week is brought to you by Landmark (above), which provided us with the recipe for creating a foolproof special district. Step one: find ten buddies. Step two: issue each individual an option contract to purchase a 1/20 interest in a 100-square-foot parcel (the square footage of a roomy jail cell). (Bonus tip: don’t bother to collect the $10 down payment for the contracts.) Voila, instant special district. Go forth and issue $35 million in bonds safe in the knowledge that no one will ever dare look askance at this arrangement.

Bond Case Briefs