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Firm represents Virginia Public School Authority in competitive sale of qualified school construction bonds

June 24, 2010

McGuireWoods represented the Virginia Public School Authority (VPSA) to finance school energy projects in 18 localities through the competitive sale of $73 million qualified school construction bonds. VPSA obtained very favorable pricing, allowing the borrowers to get a zero interest rate financing. We added value by working with VPSA and its financial advisor to simplify and streamline the redemption provisions relating to the bonds to make them less complicated and more attractive to bidders of tax credit bonds.