Whether the need is for new money, refunding, or a combination of both, clients rely on our transactional experience to handle all details relating to the authorization, tax-exemption, tax credit, sale and delivery of public securities. In addition to our bond counsel practice, we offer issuers our disclosure counsel services which enable us to accurately describe the issuer’s credit story, given our knowledge of federal and California securities laws. We advise our clients on exemptions from applicable statutes, the disclosure requirements, and anti-fraud provisions of applicable securities regulation of the Securities Exchange Act of 1934 and the Securities Act of 1933.
We are leaders in helping our clients finance government infrastructure, economic development projects, public-private partnerships, water and sewer enterprises, transportation infrastructure, schools and housing. We have helped agencies throughout the State raise capital through lease and enterprise revenue borrowing to expand their systems and improve the quality of life for their constituents. We are experts in the use of the Marks Roos and Mello Roos Acts to expand new capital infrastructure.
Our primary public finance clients are municipalities, water and sewer districts, redevelopment agencies, school districts, public-private partnerships and affordable housing agencies. We help issue general obligation bonds, lease and enterprise revenue financings, assessment and special tax bonds, and both single-family and multi-family residential mortgage revenue bonds. Because we understand our clients’ financing goals, we can tailor the financing instrument to their specific purposes. We assist them with the use of the variety of credit enhancement techniques to maximize the capital raised for both short-term and long-term, variable and fixed rate borrowings. We also advise clients on the use of derivative instruments, including swaps, forward delivery contracts and related financing instruments.
In addition to assisting public entities with their financing needs, our lawyers handle tax-exempt bond financings for a number of health care, educational and other 501(c)3 not-for-profit clients. Our sophisticated federal tax expertise ensures that all such financings meet all requirements for tax-exemption, if applicable. Our clients may consult with our federal tax expert prior to structuring a financing. During the course of our involvement, we actively include tax analysis. After the bonds have been delivered, we are available to provide on-going tax advice as well as advice on investments, disclosure and administration of the debt.
As state and local governments search for ways to reduce overall capital costs, BB&K continues to stay current with state and federal laws creating new markets. Build America Bonds were a recent debt instrument which expanded the market for public agencies. We assisted many agencies with accessing the new market opportunity. We also continue to review and prepare for additional market opportunities for tax-credit instruments, enterprise zones, or other tax-exempt securities.
For additional information, please contact John Rottschaefer, Public Finance practice group leader.