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Mea culpa, Jim.<br>
A levy is a levy, referred to in my previous post as a "levy."<br>
A bond issue is a bond issue, referred to in my previous post as a
"special improvement district." (SID).<br>
<br>
More accurately, "SID" is a generic term that can be either a levy or a
bond issue.<br>
Thus we have SIDs for park districts and a street cleaning ("flushing")
district and lighting districts that are levies.<br>
We have SIDs for sewer installation and road installation and
underground utilities and park improvements that are bond issues.<br>
<br>
Better? :)<br>
++<br>
For clarity, I guess the discussion should distinguish between citywide
bond issues and citywide levies. Right or wrong, that's the discussion
I was hearing.<br>
<br>
A citywide levy would be assessed as a citywide SID. A citywide bond
would probably be sold as a General Obligation Bond and assessed as
such.<br>
<br>
Back to your regular programming...<br>
<br>
---ed<br>
<br>
<pre class="moz-signature" cols="72">Ed Childers
<a class="moz-txt-link-abbreviated" href="mailto:echilders@ci.missoula.mt.us">echilders@ci.missoula.mt.us</a>
406-728-3751
406-546-7681 (cell)
<a class="moz-txt-link-abbreviated" href="http://www.ci.missoula.mt.us">www.ci.missoula.mt.us</a>
</pre>
<br>
<br>
Jim McGrath wrote:
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<title>RE: [MissoulaGov] SID Deferrment</title>
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<p class="MsoNormal"><font color="navy" face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial; color: navy;">Thanks for
the clarification.<o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="navy" face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial; color: navy;">But it seems
that Dave is discussing
something different. <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="navy" face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial; color: navy;">“</span></font><font
color="black"><span style="color: windowtext;">I think this is
somewhat a matter of semantics,
because for all intents and purposes a city-wide street, park (you name
it)
maintenance district is very much akin to a city-wide SID with the
exception
being that it would not sunset after a specified period of time (e.g.,
20
years) but would be envisioned as a burden that the entire community
would bear
as long as there are streets and sidewalks and trails to maintain.”<o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman"
size="3"><span style="font-size: 12pt; color: windowtext;">This is
like the downtown street
cleaning district which is assessed each year – your definition of
levy,
I guess. But how would a city-wide district levy be different than a
city-wide
tax levy? <o:p></o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman"
size="3"><span style="font-size: 12pt; color: windowtext;"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman"
size="3"><span style="font-size: 12pt; color: windowtext;"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><font color="navy" face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial; color: navy;"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><font color="navy" face="Arial" size="2"><span
style="font-size: 10pt; font-family: Arial; color: navy;"><o:p> </o:p></span></font></p>
<div>
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color="black" face="Times New Roman" size="3"><span
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<hr tabindex="-1" align="center" size="2" width="100%"></span></font></div>
<p class="MsoNormal"><b><font color="black" face="Tahoma" size="2"><span
style="font-size: 10pt; font-family: Tahoma; color: windowtext; font-weight: bold;">From:</span></font></b><font
color="black" face="Tahoma" size="2"><span
style="font-size: 10pt; font-family: Tahoma; color: windowtext;"> Ed
Childers [<a class="moz-txt-link-freetext" href="mailto:echilders@ci.missoula.mt.us">mailto:echilders@ci.missoula.mt.us</a>] <br>
<b><span style="font-weight: bold;">Sent:</span></b> Saturday,
February 14, 2009
10:05 AM<br>
<b><span style="font-weight: bold;">To:</span></b> David Strohmaier<br>
<b><span style="font-weight: bold;">Cc:</span></b> Jim McGrath; 'Bob
Jaffe';
<a class="moz-txt-link-abbreviated" href="mailto:missoulagov@cmslists.com">missoulagov@cmslists.com</a><br>
<b><span style="font-weight: bold;">Subject:</span></b> Re:
[MissoulaGov] SID
Deferrment</span></font><font color="black"><span
style="color: windowtext;"><o:p></o:p></span></font></p>
</div>
<p class="MsoNormal"><font color="black" face="Times New Roman"
size="3"><span style="font-size: 12pt;"><o:p> </o:p></span></font></p>
<p class="MsoNormal"><font color="black" face="Times New Roman"
size="3"><span style="font-size: 12pt;">My nickel's worth:<br>
A Special Improvement District: bonds are sold up front to
finance improvements; property owners in the defined District Area
repay the
loan (bonds) over a predetermined time period; they pay interest on the
loan
(bonds) at a predetermined interest rate.<br>
A Levy: an annual charge to property owners in a defined
area. The amount is set periodically (in my experience, annually) based
either
on some anticipated benefit to the owners or on benefit already
delivered.<br>
Some combination of the two is possible; for instance there
was a proposal to sell Bonds to finance improvements at the <st1:place
w:st="on"><st1:PlaceType w:st="on">Fort</st1:PlaceType> <st1:PlaceName
w:st="on">Missoula</st1:PlaceName> <st1:PlaceType w:st="on">Park</st1:PlaceType></st1:place>,
and charge an
annual levy that would have repaid the loan (Bonds) and provided
ongoing
maintenance.<br>
<br>
Not surprisingly, when we start discussing a proposal for
citywide financing of local projects such as sidewalks that have
historically
been financed locally, people who have already paid for their own local
improvements object to paying for other people's. By the same token,
when we
have a proposal for local financing of what appears to some to have
been
financed citywide, people object.<br>
<br>
---ed<br>
<br>
<o:p></o:p></span></font></p>
<pre><font color="black" face="Courier New" size="2"><span
style="font-size: 10pt;">Ed Childers<o:p></o:p></span></font></pre>
<pre><font color="black" face="Courier New" size="2"><span
style="font-size: 10pt;"><a moz-do-not-send="true"
href="mailto:echilders@ci.missoula.mt.us">echilders@ci.missoula.mt.us</a><o:p></o:p></span></font></pre>
<pre><font color="black" face="Courier New" size="2"><span
style="font-size: 10pt;"><o:p> </o:p></span></font></pre>
<pre><font color="black" face="Courier New" size="2"><span
style="font-size: 10pt;">406-728-3751<o:p></o:p></span></font></pre>
<pre><font color="black" face="Courier New" size="2"><span
style="font-size: 10pt;">406-546-7681 (cell)<o:p></o:p></span></font></pre>
<pre><font color="black" face="Courier New" size="2"><span
style="font-size: 10pt;"><o:p> </o:p></span></font></pre>
<pre><font color="black" face="Courier New" size="2"><span
style="font-size: 10pt;"><a moz-do-not-send="true"
href="http://www.ci.missoula.mt.us">www.ci.missoula.mt.us</a><o:p></o:p></span></font></pre>
<pre><font color="black" face="Courier New" size="2"><span
style="font-size: 10pt;"><o:p> </o:p></span></font></pre>
<p class="MsoNormal"><font color="black" face="Times New Roman"
size="3"><span style="font-size: 12pt;"><br>
<br>
David Strohmaier wrote: <o:p></o:p></span></font></p>
<p class="MsoNormal"><span calibri="" ,="" sans-serif=""
color:#1f497d=""=""><font color="black" face="Times New Roman" size="2"><span
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</xml><![endif]-->I
think this is somewhat a matter of semantics, because for
all intents and purposes a city-wide street, park (you name it)
maintenance
district is very much akin to a city-wide SID with the exception being
that it
would not sunset after a specified period of time (e.g., 20 years) but
would be
envisioned as a burden that the entire community would bear as long as
there
are streets and sidewalks and trails to maintain.<u5:p></u5:p></span></font></span><o:p></o:p></p>
<p class="MsoNormal"><span calibri="" ,="" sans-serif=""
color:#1f497d=""=""><u5:p><font color="black" face="Times New Roman"
size="2"><span style="font-size: 11pt;"> </span></font></u5:p></span><o:p></o:p></p>
<p class="MsoNormal"><span calibri="" ,="" sans-serif=""
color:#1f497d=""=""><font color="black" face="Times New Roman" size="2"><span
style="font-size: 11pt;">Happy Valentine’s Day<u5:p></u5:p></span></font></span><o:p></o:p></p>
<p class="MsoNormal"><span calibri="" ,="" sans-serif=""
color:#1f497d=""=""><u5:p><font color="black" face="Times New Roman"
size="2"><span style="font-size: 11pt;"> </span></font></u5:p></span><o:p></o:p></p>
<div><span tahoma="" ,="" sans-serif="">
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style="border-style: solid none none; border-color: -moz-use-text-color; border-width: 1pt medium medium; padding: 3pt 0in 0in;">
<p class="MsoNormal"><b><font color="black" face="Times New Roman"
size="2"><span style="font-size: 10pt; font-weight: bold;">From:</span></font></b><span
tahoma="" ,="" sans-serif=""><font size="2"><span
style="font-size: 10pt;"> Jim
McGrath [<a moz-do-not-send="true"
href="mailto:jmcgrath@missoulahousing.org">mailto:jmcgrath@missoulahousing.org</a>]
<br>
<b><span style="font-weight: bold;">Sent:</span></b> Friday, February
13, 2009
10:30 PM<br>
<b><span style="font-weight: bold;">To:</span></b> David Strohmaier;
Bob Jaffe; <a moz-do-not-send="true"
href="mailto:missoulagov@cmslists.com">missoulagov@cmslists.com</a><br>
<b><span style="font-weight: bold;"></span></b></span></font></span></p>
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