Public Finance
A deeply experienced team with a long-standing commitment to public finance
Capabilities at a glance
- Broad and deep track record of excellence. Our Public Finance Practice Group has provided legal opinions on bond transactions for over 80 years.
- Nationally recognized public finance lawyers, ranked No. 5 in the Midwest and No. 1 in Wisconsin in the Bond Buyer's rankings by deal volume.
- Lawyers who are leaders in the public finance industry. We are members of the National Association of Bond Lawyers and the Bond Dealers of America, and we are deeply committed to diversity and the communities we serve.
Experienced public finance lawyers who are dedicated to client service
Operating as part of a national, full-service law firm with more than 130 years serving clients, the Quarles Public Finance Practice Group has industry knowledge and legal experience as broad as it is deep. Our public finance lawyers serve as bond counsel, special issuer's counsel, purchaser’s counsel, disclosure counsel and underwriter's counsel for state, public authority, special district and municipal issuers; school districts and technical colleges; conduit issuers and borrowers; and broker-dealer underwriters. Our legal advice to you is sharpened by a keen understanding of changing legislation and best practice. We stay abreast of the latest developments by working on transactions that are in the market every day. We are also members of the National Association of Bond Lawyers, the Bond Dealers of America and various state and local public finance organizations.
Attorneys at the heart of the public finance community
Our Public Finance attorneys are proud to be at the heart of their industry. We frequently take the lead with respect to following and providing input on legislative initiatives. We provide feedback on proposed legislation and have organized summits of public finance professionals, municipal officers, municipal advisors and concerned associations to address potential negative implications of proposals. We regularly present at school district, municipal and bond community conferences.
- Commitment to diversity: We are committed to hiring, training and advancing minority and women attorneys. We are leaders in mentoring and developing outstanding diverse attorneys. Diversity is a part of our firm mission.
- Commitment to the communities we serve: We actively engage in civic and charitable efforts through our Quarles Cares initiative and for many years have demonstrated a commitment to pro bono service.
News & Insights
Public Finance Focus Areas
Broker-Dealer Underwriters
We serve as underwriter's counsel on bond transactions — both offered deals and private placements — around the country. We have made significant investments in our disclosure and underwriter's counsel team since the financial crisis of 2008-09 and the SEC's subsequent risk alert on “Strengthening Practices for the Underwriting of Municipal Securities.” Our team works on public finance and project finance matters, assists clients in the development of diligence practices and written supervisory procedures and coordinates assistance from other Quarles lawyers to assist dealers in investigations, enforcement actions, arbitrations and litigation. We have served as underwriter's counsel or disclosure counsel in more than 750 bond issues totaling more than $10.6 billion over the last three years.
Conduit Transactions
We serve as bond counsel, borrower's counsel and purchaser’s counsel on tax-exempt and taxable bond transactions, including 501(c)(3) bonds issued for health care systems, independent colleges and universities, private elementary and secondary schools, including charter schools, senior living facilities and multifamily housing facilities. We have experience representing borrowers and purchasers in conduit financings across the country. Our experience also includes representing the Wisconsin Health and Education Finance Authority (WHEFA) as bond counsel and issuer’s counsel since its inception in 1979, including with respect to over 60 issues totaling more than $3 billion over the last three years.
Municipal and Other Governmental Issuers
We serve as bond counsel, disclosure counsel and special issuer's counsel on state, special district and municipal financings, including general obligations, revenue bonds, tax/revenue/grant anticipation issues, USDA rural development issues, Clean Water and Safe Drinking Water issues and special assessment bond issues. We assist in related matters, including the creation of tax incremental financing (TIF) districts (and subsequent TIF financings), the negotiation of developer's agreements and the drafting of special legislation. Our experience includes representing a significant majority of municipalities throughout Wisconsin in over 945 issues totaling more than $5.5 billion over the last three years.
School Districts and Technical Colleges
We serve as bond counsel and disclosure counsel to a significant majority of school districts and technical college districts throughout Wisconsin. Our lawyers have extensive experience assisting districts with bond referenda and revenue cap referenda (we have served as counsel with respect to nearly 1,200 referenda since 2003), capital project financings, cash flow borrowings and tax-exempt capital leases. We also help on related matters, including with respect to construction contracts, escrow defeasance transactions and real estate work. Our experience includes assisting school clients in nearly 450 bond transactions totaling more than $4.3 billion over the last three years.
