Practice Areas: Public Finance

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Dodd-Frank Financial Reform Act Will Impact Municipal Securities Market (7/22/2010)

Event Media: Financial Reform Legislation - Securities Law Implications (7/21/2010)

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McGuireWoods' public finance lawyers combine extensive knowledge with in-depth experience of banking, securities, real estate and tax matters – experience that affords you top quality services in all areas of public finance.

Having pioneered the use of various innovative financing techniques such as public-private partnerships, special revenue pledges, lease financing, moral obligation pledges and other subject-to-appropriation financings, our public finance lawyers have successfully established the validity of these financing options through legislation, judicial validations and administrative interpretations. We are known for our innovation and for crafting solutions to meet our clients’ strategic and business needs.

Our areas of focus in public financing include:

• Hospital and Health Care Financings
• Higher Education and Private School Financings
• Industrial Revenue Bonds and Exempt Facility Bonds
• Local Government Financings
• Special Tax Districts and Community Development Authorities
• Tax Increment Financing
• Non-Profits and 501(c)(3) Financings
• Public School Financings
• Airport and Air Cargo Facility Financings
• Affordable Housing Projects
• Financing of Solid Waste Disposal Facilities
• Transportation Facilities
• Water and Sewer Financings
• Regional Jail Financings
• Lease-purchase Financings
• Financing of Sports Facilities and Civic Centers

McGuireWoods’ public finance lawyers have been involved in more than 2,500 tax-exempt financings as bond counsel, underwriter's counsel and lender's counsel for agencies and other instrumentalities of Virginia, Illinois, Georgia, Maryland, New York, North Carolina and South Carolina as well as many cities, counties, towns, industrial development authorities, community development authorities, service authorities, sanitary districts, regional authorities and other special purpose issuers.

Our experience includes:

• General obligation and revenue bond financings
• Bond referenda
• Short-term financings through revenue, tax and grant anticipation notes
• Variable rate financings
• Tax-exempt leasing
• Installment purchase financings
• Internet auctions
• Auction reset securities
• Multiple mode variable rate issues
• Issues with various tender and conversion features
• Compound interest bonds
• Zero coupon bonds
• Moral obligation bonds

Our team is well-versed in the areas of complex public offerings and issues using credit enhancement devices such as letters of credit, standby credit arrangements and bond insurance. We have served as special tax counsel in taxable and tax-exempt lease financing transactions, and have experience in the financing of regional projects involving multi-agency agreements.

We have represented numerous financial institutions, investment banking firms, financial advisors and underwriters in connection with tax-exempt financings. Our relationships with both regional and national financial institutions and underwriters are most valuable to our clients.

Our public finance lawyers have participated in presentations by issuers to rating agencies and have assisted issuers in obtaining ratings for a wide variety of financing structures, including issues that have received the highest rating from rating agencies. In addition, our lawyers serve on numerous panels and provide information to many organizations and governmental entities interested in public finance, through speaking engagements and publications.

For further information on the experience of this practice area, please review our representative work, case studies and client list, as well as the list of awards this team has earned.

Representative Work

• Airport revolving loan program for a state resources authority
• Downtown redevelopment financing
• Camden Yards stadium financing
• Clean water revolving loan program for a state resources authority
• Federal highway transportation revenue anticipation notes
• Governmental pool loan program
• School district installment purchase for school facilities
• Howard Hughes Medical Institute financing
• Qualified zone academy bonds in Illinois and Virginia
• Regional shopping mall financing