Municipal Law: Financing, Tax, and Municipal Property 2025 Edition

The operational costs associated with local governance are best navigated by those knowledgeable about the law as it affects a municipality’s finances and taxes and the property for which they are responsible. The convoluted flow of money in a municipality through taxes, bonds, and sale of municipal obligations is examined in this handbook, especially in the context of tax increment allocation financing (TIF). Municipal property, special assessments, special service areas, and business districts are also explored, as well as the boards that govern police and firefighter pensions. Useful forms are included for the practitioner’s convenience.

General Editor:

Stewart H. Diamond, Ancel Glink, P.C., Chicago,

Chapter 1 — Finance and Tax
James V. Ferolo, Michael T. Jurusik, and Michael A. Marrs, Klein, Thorpe and Jenkins, Ltd., Westmont, Gregory T. Smith and Courtney P. Trefil, Elrod Friedman LLP, Chicago

Chapter 2 — General Obligation and Revenue Bonds
Anjali Vij and Melissa O’Connor, Chapman and Cutler LLP, Chicago

Chapter 3 — Sale of Municipal Obligations
Kyle W. Harding, Chapman and Cutler LLP, Chicago, and Andrew Kim, PMA Securities, LLC, Naperville

Chapter 4 — Special Assessments, Special Service Areas, and Business Districts
Michael T. Jurusik, Klein, Thorpe and Jenkins, Ltd., Westmont, and Gregory T. Smith and Caitlyn R. Culbertson, Elrod Friedman LLP, Chicago

Chapter 5 — Tax Increment Allocation Financing
Adam B. Simon, Ancel Glink, P.C., Vernon Hills, and Kent M. Floros and Lawrence E. White, Chapman and Cutler LLP, Chicago

Chapter 6 — Municipal Property
Peter M. Friedman, Elrod Friedman LLP, Chicago

Chapter 7 — Police Officers’ and Firefighters’ Pension Boards
M. Neal Smith, Bond Conway Law Firm, Ltd., Wheaton