Ehlers' Fiduciary Duty to You as Municipal Advisors
President and CEO
It's almost been a year since Ehlers first sent out a letter informing our clients Congress passed legislation that will change how financial advisory firms like Ehlers provide advisory services.
The legislation mandates a fiduciary responsibility to you by Ehlers, which is how we have always viewed our relationship, as we act on your behalf as your "municipal advisor".
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Save the Date!
Ehlers 2012 Minnesota Municipalities Public Finance Seminar
We're starting to get ready for you to attend the Ehlers 2012 Minnesota Municipalities Public Finance Seminar!
Be sure to block your calendars now to join us February 2-3, 2012 at the Earle Brown Heritage Center.
Expect to see more details in special emails sent to you, and visit our website for more information soon.
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2011 Fall Conferences
Ehlers had the pleasure of presenting at three Minnesota conferences, including attending the Minnesota Governor's Job Summit this fall.
To see more details about each conference click here.
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Ehlers Website Redesign
What's with the new look? Ehlers recently redesigned our website to help you find what you need when you need it.
It's not so much about a new look as much as it is about providing organized content that helps you make informed decisions.
On the home page, you'll read the latest news and about the Dodd-Frank Wall Street Reform and Consumer Protection Act.
Anyone can access our document library for information on bonds, economic development, financial planning and more. As one of our clients, you can request a password to access additional documents to help educate you and your community.
You'll be seeing more changes in the future, so please check back often!
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Greetings!
In this issue of the Advisor, we'll taking a look at how Ehlers assisted the State of Minnesota with 911 Revenue Bonds, the Homestead Credit Shift of 2011, and how three counties worked together to save over $840,000.
Fall is always a busy time with conferences, so we'll recap a few Ehlers attended over the past few months.
Finally, I am giving you an update with the Dodd-Frank Wall Street Reform and Consumer Protection Act that was enacted last year and what it means to you.
Don't forget to save the date for the 2012 Public Finance Seminar in February and check out our new website!
Steve Apfelbacher
President and CEO
sapfelbacher@ehlers-inc.com
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Ehlers Assists State of Minnesota with $60,380,000 911 Revenue Bonds; Fourth in a Series of Issues to Fund the 800 mhz Emergency Radio System
 In August, 2011, the State of Minnesota closed its $60,380,000 911 Revenue Bonds issue to fund the last of five phases of land acquisition, tower construction, transmission, and radio equipment purchases to enhance public safety communications among all levels of government.
According the 2011 Bonds' official statement, the State Legislature in 2002 directed the Department of Public Safety, the Department of Transportation, the Department of Natural Resources, the Department of Administration, and other parties to cooperatively develop a plan to design and implement the statewide Allied Radio Matrix for Emergency Response system
(the "ARMER System"), an 800 MHz digital radio system to be made available throughout the State.
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The Homestead Credit Shift of 2011
How it Will Affect City and County Property Taxes and TIF Districts
The 2011 Omnibus Tax Bill included a series of provisions that received very little public discussion - and seemingly little debate - yet will have far-reaching effects on property taxes across the State. We are calling this change the "Homestead Credit Shift of 2011." The first explanations we heard of this change sounded pretty innocuous. For example, the Bill Summary provided by the House Research Department describes the change as follows:
"Converts the market value homestead credit from a state-paid credit to a homestead market value exclusion that provides substantially the same benefit to homestead property as the credit."
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County Cooperation Saves Over $840,000 and Provides Funds to Begin Resource
Recovery Facility Expansion
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Ehlers 3060 Centre Pointe Drive
Roseville, MN 55113
Phone: 651-697-8500
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