171205 Winter Weather SDIS

 

January 19, 2018


To: Members of the Special Districts Association of Oregon

From: David Ulbricht, Director of Advisory Services

Subject: Notice of Local Option Tax Measure or General Obligation Bond


Pursuant to HB 2873, which passed at the 2017 Regular Session, effective January 1, 2018, the Secretary of State has recently changed the timelines and required forms for Districts (which includes school
districts) that plan on placing a bond or local option measure on the ballot. These changes are now effective and are particularly important to note for any district planning on going to their voters this May.


The primary change is a requirement that districts file form SEL 805 (Request for Ballot Title) at least 80 days in advance of the election (by February 23 for May 2018). This is in addition to form SEL 803 (Notice of Measure Election) which is still required to be filed at least 61 days in advance of the election (by March 15 for May 2018). Both of these forms should be reviewed with your bond counsel and municipal advisor before submission to make sure that they contain the correct legal language and numerical analysis.


Important Links

Updated Referral Manual - includes a section explaining the new filing and calendar requirements. Page 14 of the Referral Manual provides the details and process for special districts. 

Updated SEL 805 Form

Updated SEL 803 Form


Should you any difficulty reviewing or downloading the Referral Manual or Forms please do not hesitate to contact Tonya Grass (tgrass@sdao.com) or David Ulbricht (dulbricht@sdao.com). Our telephone number is 503.375.8883. 


Should you district require any assistance in meeting the new requirements and timeline for the May 15, 2018 election please also do not hesitate to contact SDAO Advisory Services. We remain at your service. 



SDAO Advisory Services LLC (“SDAOAS”), a wholly‐owned division of SDAO, was established to fulfill the needs of SDAO members that are considering the issuance of municipal securities, borrowing funds for capital projects, debt management planning, continuing disclosure assistance or other financial issues. The formation of SDAOAS come about, in light of the Wall Street Reform and Consumer Protection Act of 2010 (better known as the “Dodd‐Frank Act”). 

From start to finish, SDAOAS works with special districts through the election process to the issuance of general obligation bonds or by serving as your municipal advisor on matters relating to the debt financing and refinancing of capital projects including short‐term and cash‐flow borrowing needs. 

Special Districts Association of Oregon Advisory Services LLC (“SDAOAS”) is a registered municipal advisor with the Securities and Exchange Commission pursuant to Section 15B(a)(2) of the Securities Exchange Act of 1934 (the “Act”) and the Municipal Securities Rulemaking Board. SDAOAS is providing the information contained herein and/or accompanying materials (the “Materials”) for discussion or general informational purposes.