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ATTORNEY GENERAL OPINION JANUARY 26, 2016 - PRACTICES RE SCHOOL CONSTRUCTION BOND FINANCING
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ATTORNEY GENERAL OPINION JANUARY 26, 2016 - PRACTICES RE SCHOOL CONSTRUCTION BOND FINANCING
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2/17/2016
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BON <br />BEST BEST & KRIEGER <br />ATTORNEYS AT LAW <br />Section 8314 of the Government Code may be violated knowingly or <br />negligently. The Opinion notes that "some firms expressly provide in their <br />contingent -compensation contracts that there is to be no remuneration for <br />pre -election services." 2016 Cal. AG LEXIS 4, at *30 n.75. But the <br />Attorney General warns that reliance upon such a self-serving statement <br />"would be imprudent" and suggests retaining "the services of an <br />independent financial advisor to assist in evaluating the fees contained in <br />a contingent -compensation arrangement." Id. <br />CONCLUSION <br />The Attorney General's recent Opinion about school construction bond financing <br />clarifies the restrictions surrounding use of public funds to campaign for passage of a <br />bond measure and the use of bond proceeds for such campaigning. These <br />clarifications implicate the common industry practice of contingent -compensation <br />contracts. We believe that the Opinion reinforces obligations on the part of districts to <br />scrutinize these arrangements to ensure that they are not running afoul of the law. <br />Should you have any questions and/or concerns regarding the information <br />contained in this memo or need guidance in applying the laws involving the clarifications <br />in the Attorney General's Opinion, please do not hesitate to contact one of the attorneys <br />in our Public Policy & Ethics Groups or your Best Best & Krieger attorney. <br />-3 - <br />93 939,00002\24437112.5 <br />GARY W. SCHONS <br />RUBEN DURAN <br />DOROTHY MCLAUGHLIN <br />
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