Public Law and Finance - Public Finance

• The Group acted as Bond Counsel for the City of St. Louis in the financing and refinancing of numerous capital projects through the issuance of $45 million Compound Interest Leasehold Revenue Bonds. The financing presented unique challenges both in structuring and securitization. The multiplicity of projects and restricted revenue sources to be used for repayment meant a complex flow of funds analysis, while the use of the Convention Center as security required the use of subordinate and parity series of bonds in order to preserve the rights of existing bondholders

• Representative clients include the St. Louis County Industrial Development Authority; the St. Louis Development Corporation and related issuing authorities, including the Land Clearance for Redevelopment Authority (LCRA), Planned Industrial Expansion Authority (PIEA) and Land Reutilization Authority (LRA); City of Eureka, Missouri; City of Ferguson, Missouri; and jefferson County, Missouri.

• As counsel to the credit bank, the group structured a complex securitization of a $33 million letter of credit enhancing bond issued, the proceeds of which were loaned to nine different educational institutions across eight states. The process involved a series of well-coordinated TEFRA hearings and communications between several parties.

• The group served as purchaser’s counsel to UBS PaineWebber in connection with approximately $27.5 million in Health Facilities Refunding Revenue Bonds issued by the Missouri Health and Educational Facilities Authority to refund bonds issued to finance improvements to the Children’s Mercy Hospital.

• As standby bank counsel to U.S. Bank, N.A., the group assisted in the issuance of approximately $20.5 million in Variable Rate Demand Educational Facilities Revenue Bonds issued by the Missouri Health and Educational Facilities Authority to finance improvements to St. Louis University.

• The Group served as letter of credit counsel to Southwest Bank in the issuance of $5 million in Industrial Development Revenue Bonds issued by the St. Louis County Industrial Development Authority.

• The Group, in conjunction with the Banking Group, have provided counsel to financial institutions and related community development entities and have structured several complex transactions involving the issuance and purchase of New Market Tax Credits. The New Market Tax Credit programs encourage the identification of viable market opportunities and attract outside investment, which helps low-income urban and rural areas access capital.

• The Group served as bond counsel to the Village of Elsah, Illinois, in the issuance of $10 million in Industrial Development Revenue Bonds. The bonds were used to make improvements to the educational facilities and related structures at Principia College. The issuance was the first step in financing considerable improvements to the college and to the community, including the construction of a new athletic facility.

• Representative clients in the state of Illinois include the Village of Glen Carbon and the Village of Elsah.