Your partner for complex public financings
Regulations relating to tax-exempt public financings have become more complex. There are many requirements to meet, and many benefits to getting this right. With 50+ years’ experience in all kinds of public finance transactions, we’re equipped to advise you on issues involving tax, bond and municipal law.
We have vast tax experience, both in meeting regulatory requirements and in helping participants succeed in closing their transactions. We act for political subdivisions – states to government entities – and other groups, including lenders, investors, underwriters, credit enhancers and conduit borrowers. We have extensive experience in post-issuance work, such as IRS audits and compliance.
There are few types of municipal financings we haven’t been involved in, whether in how the debt is offered or placed. Many financings we do handle involve complex derivatives. Given the variety, we’re well placed to take on your new and unusual transactions, anything from hospital financings to airport and other large infrastructure projects.
We handle all parts of your transactions and your ongoing legal compliance. In public-private partnerships, we focus on a range of facilities – water and wastewater, solid waste disposal, road, stadia and similar facilities.
“There are few types of municipal financings we haven’t been involved in, whether in how the debt is offered or placed.”
When acting as bond counsel, our scope of work includes a study of the organization and governance of the issuer and drafting legislation. We develop the documents in response to market conditions and demands. And we revise and develop bond legislation and documentation to address changes in the Internal Revenue Code and securities regulation relating to municipal financings.
Depending on our role, we also draft and negotiate your offering documents, indentures and loan agreements, and we advise you on tax and legal document compliance.
In related areas such as real estate, we advise on planning, zoning, public sector financing and urban redevelopment. In the securities area, we manage proper disclosure, a recent regulatory focus. And our bankruptcy group acts for debtors and creditors, including issuers and borrowers of tax-exempt bonds.
- USD565.180 million Puerto Rico Aqueduct and Sewer Authority Revenue Refunding Bonds, Series 2022A (Senior Lien) (Forward Delivery) and USD2,468.905 million Puerto Rico Aqueduct and Sewer Authority Revenue Refunding Bonds, Series 2021A, Series 2021B and Series 2021C (Senior Lien). Issuer’s counsel. Governmental bonds.
- New York City Industrial Development Agency: (1) USD551.535 million PILOT Refunding Bonds (Queens Baseball Stadium Project), Series 2021A and 2021B (Taxable).
- Borrower’s bankruptcy counsel in USD90.6 million Alachua County Health Facilities Authority Health Facilities Refunding Revenue Bonds, Terraces at Bonita Springs, Series 2022.
- USD399.7 million California Statewide Community Development Authority Revenue Bonds (Loma Linda University Medical Center), Series 2018A. Borrower’s counsel. Qualified § 501(c)(3) bonds.
- USD35 million California Municipal Finance Authority Refunding Revenue Bonds (Zoological Society of San Diego), Series 2020. Borrower’s counsel. Qualified § 501(c)(3) bonds.
- USD27.2 million California Enterprise Development Authority Charter School Revenue Bonds (Rocketship Public Schools – Obligated Group No. 2) Series 2022A and Series 2022B (Taxable). Borrower’s counsel. Qualified § 501(c)(3) bonds.
- USD15.245 million California Enterprise Development Authority Charter School Revenue Bonds (Rocketship Public Schools – Obligated Group No. 2) Series 2021A and Series 2021B (Taxable). Borrower’s counsel. Qualified § 501(c)(3) bonds.
- City of Frederick, Maryland: approximately USD100 million tax exempt and taxable Bonds, Series 2016.
- Borrower’s Counsel in Secondary Market Reoffering: USD146.7 million Jets Stadium Finance Issuer 2015, LLC Variable Rate Demand Notes, Series 2015 and USD254.5 million Jets Stadium Development, LLC Project Revenue Bonds, Series 2007A-4 (remarketed 2014).