Bonds and Public Finance
Given what is at stake in most public financing situations, it is important that you have experienced public financing attorneys guiding you through every step of the process in finding funding sources for capital improvements in your community.
In recent years, public financing has faced increased scrutiny and regulation from both the Internal Revenue Service and the Securities Exchange Commission. Missteps can result in potential legal liability, including substantial penalties. When it comes to dealing with bonds, our firm has an impressive track record navigating the legal challenges that arise.
We act as city attorney and special counsel to more than 30 municipalities, allowing us to consult on various financial issues that other firms do not have experience handling. For example, we are the leading law firm in financing property assessment clean energy (PACE) projects through the issuance of bonds. We played a major role in drafting the state legislation authorizing PACE financings and in the development of case law affirming the validity of the statute through bond validations before the Florida Supreme Court. We also created the Green Corridor Property Assessment Clean Energy (PACE) District, by far the largest, most active and most successful PACE program in Florida, having already financed more than $640 million in PACE projects, benefitting more than 30,000 properties throughout Florida.
In another example of our work, we represented the Miami Heat in negotiations with Miami-Dade County to extend and modify the agreements governing the operation, use and management of the American Airlines Arena. Because the county guaranteed its financial obligations through taxing sources traditionally used to secure certain types of county bonds, our public finance expertise was invaluable in the negotiations. The result of this successful public-private partnership ensured the presence of the Miami Heat in its current location for an additional ten years and provided substantial economic benefits to both parties.
Additionally, we act as issuer’s counsel to the Florida Housing Finance Corporation, which is the state’s most active issuer of bonds for financing affordable housing programs. Our diverse experience, whether it’s working on smaller bank loan transactions of $5 million or dealing with bonds upward of $500 million, allows us to help clients of all sizes across a broad spectrum of matters.
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