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Public finance

Overview

Our public finance attorneys have consistently undertaken a unique and creative approach to projects involving public bodies, public/private partnerships and complex, multilayered development projects. We have broad experience in all types of transactions involving public and private entities, including taxable and tax exempt financing for both nonprofit and for-profit projects. Our attorneys have represented cities, counties, state government, port authorities, and other types of governmental entities. We have also served as counsel to underwriters, placement agents, borrowers, lenders, letter of credit providers and fiduciaries in all types of taxable and tax-exempt bonds, state and local incentive programs. Our experience includes tax increment financing, tax increment financing, special assessment financing, general obligation bond and note offerings, and governmental incentives such as tax credits and tax abatements. We have represented a variety of public finance clients, including cultural institutions, educational institutions, and private companies in conduit borrowings for real estate acquisition and renovation. We have also been involved in a variety of capacities for transactions and projects involving housing authorities, school districts and other special purpose districts.

Financing services – Our public finance attorneys have been involved in a wide variety of tax-exempt financings, including general obligation bonds, revenue bonds, tax increment financing, certificates of participation, 501(c)(3) bond financing, exempt facility financing, and industrial revenue bonds. Depending upon the role of our client, we:

  • Assist in due diligence.
  • Provide legal and tax structuring advice.
  • Prepare “blue sky” memoranda.
  • Participate in the preparation of appropriate disclosure documents, such as the preliminary and final official statements.
  • Prepare and negotiate the necessary documentation, including the bond purchase agreement, letter of credit, placement agreement, reimbursement agreement, and trust indenture.
  • Render legal opinions regarding the legality of the securities, their tax-exempt status, the availability of exemptions under applicable securities laws, etc.  

We pride ourselves on efficiently solving difficult problems and developing innovative financing approaches to suit the needs of the parties to a particular transaction. Our public finance attorneys also provide advice in connection with compliance with IRS and Municipal Securities Rulemaking Board requirements, including the so-called “pay-to-play” regulations and with post-closing compliance and enforcement issues involving, for example, continuing disclosure obligations and IRS audits.

Project finance – Our public finance attorneys approach each project with the goal of efficiently and effectively assisting each client in structuring a transaction, streamlining the process, negotiating the financing, and ultimately completing the project on time and on budget. Because we have represented from time to time all the different participants in various projects, we can anticipate the objectives of each party and work toward a result that makes sense for all involved. We have worked with national leaders in investment banking, commercial banking, mezzanine lenders, equity sponsors, developers and all types of financial advisors and consultants, and believe we are creative problem solvers in conjunction with such parties in achieving the successful implementation of the project.

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