MSRB Proposes to Extend SEC’s Regulation Best Interest to Bank Dealers.
Special Districts Are Kingdoms of Unaccountable Power.
DeSantis’s Rush to Battle Disney Puts $1 Billion of Muni Debt in Question.
Snodgrass v. City of Wichita – In claim brought by residents following city’s refunding of bonds issued for infrastructure improvements, Court of Appeals holds that residents were not entitled to a refund based upon city’s savings resulting from the refunding. Ed. Note: Worth keeping an eye on, as it was anything but a slam-dunk. The claim was denied based upon: 1) statutes of limitations, which can vary based upon the causes of action that are successfully plead; and 2) an unjust-enrichment-like claim that failed based upon the $300 owing to the individual claimants, as opposed to the $60 million saved by the city, which could be remedied via a class action.
In re Jack County Hospital District – Bankruptcy Court enters Findings of Fact, Conclusions of Law, and Order Confirming the Second Amended Plan of Adjustment in Chapter 9 proceeding brought by hospital district. Ed. Note: Although there were no contentious issues adjudicated in this case, the Opinion and attached Plan of Adjustment are a treasure trove of resources for similar scenarios.
And finally, Adam & Eve’s Apple Farm is brought to us this week by State ex rel. Nudo Holdings, LLC v. Board of Review for City of Kenosha, in which developers attempted to construe a vacant development lot as an agricultural enterprise based upon the existence of a few conifers characterized as Christmas trees and a few walnut trees characterized as, uh, walnut trees. The land was intensively farmed, as explained by the developer when he testified that, “he and his wife walked the trails to harvest walnuts, which he gave to his mother, who distributed some to her clients and ‘made some stuff’ with the rest.” And made some stuff with the rest. The court disagreed, with the gloriously gnomic, “This is a piece of land that has some things growing on it.” A life-time subscription to BCB (a $o.47 value!) to the first of you to rename your estate, “A Piece Of Land With Some Things Growing On It.”

Bond Case Briefs