the charge to be levied. 1:40 2:05 Successor Agency Issues/Concerns Lee Squire, City of Brea. He talked about – – tax allocation bonds and the excess earnings that can be applied to the next bond payment. He stated that SB107 limited ROPS to an annual and last and final. It also limited revenue bonds. For the last and final ROPS the income not pledged is paid to the County for distribution through the waterfall. He also talked about the need to keep records for 20 years (for expenditures paid on bonds etc.) 2:05 2:15 Open Discussion/Roundtable: There was discussion about counties – experiencing fraud on unclaimed refunds and stale dated warrants. The fraudsters are becoming more organized especially through the Nigerian prison system. There was discussion about the need to go electronic and get rid of checks and warrants. Also, use the main post office to lessen the risks of fraud. 2:15 Meeting adjourns Upcoming: Property Tax Manual Committee Meeting Thursday May 5, 2016 Sacramento – – Property Tax Managers’ Sub-Committee Meeting Friday May 6, 2016 Sacramento – –
the charge to be levied. 1:40 – 2:05 Successor Agency Issues/Concerns – Lee Squire, City of Brea. He talked about tax allocation bonds and the excess earnings that can be applied to the next bond payment. He stated that SB107 limited ROPS to an annual and last and final. It also limited revenue bonds. For the last and final ROPS the income not pledged is paid to the County for distribution through the waterfall. He also talked about the need to keep records for 20 years (for expenditures paid on bonds etc.) 2:05 – 2:15 Open Discussion/Roundtable: There was discussion about counties experiencing fraud on unclaimed refunds and stale dated warrants. The fraudsters are becoming more organized especially through the Nigerian prison system. There was discussion about the need to go electronic and get rid of checks and warrants. Also, use the main post office to lessen the risks of fraud. 2:15 Meeting adjourns Upcoming: Property Tax Manual Committee Meeting – Thursday May 5, 2016 – Sacramento Property Tax Managers’ Sub-Committee Meeting – Friday May 6, 2016 – Sacramento
Minutes%20Feb%202016%20PT%20Mgrs%20Mtg%20V2.docx