Public Finance

Public purpose funding and borrowing activities revolve around a complex combination of statutes, timing and notice requirements and countless other details. But also critical to successful funding — beyond the legal complexities — is an understanding of a transaction's practical aspects (how an issue is put together, the role of the financial advisor, the underwriter and other parties to the transaction) and of the way government wheels turn on financing issues.

In an area where legal knowledge and sound judgment are the product of years of experience and the volume and variety of transactions, Quarles & Brady has earned a national reputation. For over half a century, we have assisted state and local governments in raising capital for public-interest projects ranging from hospitals, schools and infrastructure to solid waste recovery facilities, downtown redevelopment districts and marinas.

Quarles & Brady bond counsel opinions enjoy universal acceptance as assurance that a funding is lawfully authorized and issued and meets all requirements for tax exempt status. We annually provide opinions on approximately $1 billion of obligations, including some $250 million to $300 million in health care financings. That kind of volume makes us one of the largest public finance law practices in the country — larger by far than any other firm in Wisconsin. It also allows us to provide cost-efficient representation of the highest quality.

We are deeply involved at state and national levels in formulating bond industry standards, writing laws affecting state and local financing and serving in industry groups. We also have been involved in many significant court tests in this area of law. This keeps us at the forefront in spotting new trends, developments and techniques and providing the best resources for getting the job done.

The Public Finance Group at Quarles & Brady LLP offers services in all areas of public finance including:

• General obligation bond financings.
• Revenue bond financings for utilities and other revenue producing enterprises.
• Tax, revenue and grant anticipation cash flow borrowings.
• Private purpose §501(c)(3) borrowings and refundings, including health facilities financings and financings through the Wisconsin Health and Educational Facilities Authority.
• Industrial revenue bond financings and refundings for manufacturers.
• Urban redevelopment area and community development financings.
• Tax incremental district formation and related financings (TIFs).
• Special assessment financings.
• Lease revenue financings.
• Solid waste recovery projects and financings.
• Clean Water Fund financings.
• Research and implementation of municipal and state incentives for private development
• Letter of credit secured transactions for banks.
• Rural Economic and Community Development (RECD) financings (formerly known as Farmers Home Administration).
• Municipal financing securities law issues including Blue Sky compliance and continuing disclosure for underwriters and investment bankers.
• Representation of corporate trustees including work-outs and defaults and document interpretation.
• Public school foundations.

For more information on how our Public Finance Group can assist your organization with any of your needs, please contact Michael Roshar at (414) 277-5769 /  or your local Quarles & Brady attorney.