Public Finance

finance

Our public finance practice includes acting as bond counsel and as counsel to underwriters, issuers, borrowers, credit enhancement providers and trustees on a wide range of public finance structures. We have experience with a wide variety of financing structures utilized by public issuers, including general obligation bonds of states and local issuers, various types of revenue bonds (current and advanced revenue bond refunding, capital application bonds), tax increment financings, and tax and bond anticipation notes.

In the course of our representation, we have provided various bond counsel services, including and not limited to the following:

  • Preparing needed documents, including indenture agreements, notes, certificates, preliminary and official statements, security agreements and closing certificates;
  • Working closely with boards, staff, financial advisers and underwriters on all aspects of financing transactions, including the formulation of a financial strategy;
  • Participating in meetings, as needed, of the board and its committees, and making presentations at those meetings that are clear, concise and informative;
  • Reviewing documents prepared by legal counsel for other parties to ensure that they accurately reflect the agreed-upon terms of the transaction at hand, and are consistent with the interests of our clients and existing bond holders;
  • Supervising the printing of definitive or specimen bonds;
  • Delivering legal opinions at closing with respect to the authorization and issuance of bonds, and the tax exempt nature of the interest thereon;
  • Scheduling and supervising the closing proceedings of transactions, and preparing a transcript of the proceedings; and
  • Assisting our clients with complying with applicable securities law disclosure requirements in connection with each financing transaction and with ongoing client activities, including the preparation of all required disclosure documents.

In addition, in today’s market conditions, public entities may need to utilize alternative or interim financing strategies. Mahomes Bolden PC has advised clients on the utilization of commercial paper programs and letters of credit, financing strategies on the legality of proposed debt restructuring techniques in general and on the legality of new loan proposals and bond activities as requested. Given the current uncertainty in the bond insurance market, we have also advised our clients with respect to various guaranty programs and other such alternative options.

We have also collaborated with financial advisers and senior underwriters in analyzing and utilizing alternative credits for our clients. Whether it’s advising on swap arrangements, federal programs such as Transportation Infrastructure Finance and Innovation Act (TIFIA), Build America Bonds or complying with mega project finance requirements, it is our business to stay abreast of new credit alternatives or compliance issues and to advise our clients on the latest and most appropriate financing strategies.