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In This Issue: Measure 2 Halts General Obligation Bond Deals Strong Enterprise Risk Management Important for Municipalities ND Special Session Bill SB 2371 Boosts Funding for Flood Recovery & Oil
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2012 Utility Rate Survey The 2012 North Central Utility Rate Survey is now online, and participants should receive their copy in the mail during the week of February 20th. AE2S conducts the survey each year as a planning resource for communities throughout the region, and to provide support for ongoing revenue adequacy, cost of service, and rate planning analyses.
Measure 2 Halts General Obligation Bond Deals The New Year ushered in a moratorium on general obligation bond deals in North Dakota. The North Dakota Public Finance Authority will not allow political subdivisions to issue GO bonds until after the Measure 2 June election results are known. If Measure 2 is approved, North Dakota will be the first state in the nation to do away with property taxes.
G-23 Rule Goes Into Effect A big change to a federal rule prevents financial advisors from serving double duty as underwriters on a bonding issue. The Municipal Securities Rulemaking Board (MSRB) Rule G-23 prohibits municipal securities dealers from acting as financial advisors on a new bond issue, and then turning around and making an agreement to underwrite the bonds.
Strong Enterprise Risk Management Important for Municipalities Disastrous flooding and the booming oil fields in the region highlight the need for a strong enterprise risk management (ERM) framework. ERM integrates every city department's risks to align response strategy with operational policy.
ND Special Session Bill SB 2371 Boosts Funding for Flood Recovery & Oil State lawmakers came together in November for a Special Session. One of the bills that came out of Bismarck is Senate Bill 2371 which will bring millions of dollars in funding to the areas of the state significantly impacted by catastrophic flooding events, as well as the oil boom. Nearly $158.9 million was allocated from the general fund and $160 million came from other state coffers in order to authorize the spending of up to $235 million in potential federal funds for flood recovery, among other critical needs.
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If you have any questions concerning the content of this newsletter, please contact Brian Osowski at 701-746-8087 or Brian.Osowski@ae2s.com. Copyright © 2012 AE2S |
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