legalcontext

legalcontext - What Public Finance Do State Constitutions...

Info iconThis preview shows pages 1–4. Sign up to view the full content.

View Full Document Right Arrow Icon
What Public Finance Do State What Public Finance Do State Constitutions Allow? Constitutions Allow? Todd DeLong Enterprise Florida October 23 rd, 2003
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Introduction Introduction Too much power by the municipality? Legal doctrines The public purpose doctrine Debt limits Prohibitions against lending of credit Other Constitutional Limitations Dillon’s rule Home rule Uniformity and equality in State Taxation Prohibitions against special laws School finance
Background image of page 2
Legal Doctrines Legal Doctrines Debt Limits Apply to bonds that obligate the state to use its taxing power to satisfy the debt General obligation bonds Subject to debt limits Revenue bonds NOT subject to debt limits Ex. Turnpike Bonds used to fund toll-roads Prohibitions Against Lending of Credit Created mainly to end the practice by state municipalities of guaranteeing revenue bonds sold by private railroad companies Public Purpose Doctrine Gov’t entities can now exercise their spending power only for projects that promised to return some benefit to the general public
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Image of page 4
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 11/27/2011 for the course URP 5540 taught by Professor Chapin during the Spring '10 term at FSU.

Page1 / 6

legalcontext - What Public Finance Do State Constitutions...

This preview shows document pages 1 - 4. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online