Steptoe & Johnson's Public Finance Team represents issuers, investment bankers, and other market participants throughout the Mid-Atlantic and Southwest regions.
The Public Finance Team includes not only representation of issuers of all sizes and levels of sophistication, but also financial institutions, which range from market-leading international investment banks to highly specialized regional firms to local commercial banks. This diverse group of clients, along with the firm's regional experience, provides firm lawyers with a unique perspective on each financing. The team focuses on the result and on providing added value to clients, without making the transaction more complicated than necessary.
Members of the Public Finance Team are regularly involved in a wide array of non-transaction projects, including legislative drafting, lobbying, and government relations. Lawyers work proactively with clients to develop innovative and unique solutions to each client's challenges.
AREAS OF REPRESENTATION
- Assessment Districts
- Audits and Workouts
- Credit Enhancement
- General Obligation Bonds
- Government Relations
- Health Care Financing
- Higher Education Financing
- Industrial Development
- Municipal Leasing
- Nonprofit Corp. Financing
- Public Power Financing
- Tax Increment Financing
- Taxable Pension Financing
- Transportation Financing
- Water and Wastewater
HOW WE HAVE HELPED
- Counsel to a public utility company in several financings, including a cross-border lease transaction and a securitization transaction. The securitization was a first to use utility payments.
- Served as bond counsel for the first combined tax increment revenue and community enhancement district public bond issue completed in the State of West Virginia for a 1,700-acre, mixed use, master-planned community. Representation included devising structure, assisting with assessment methodology, representation of governmental bond issuer, preparation of financing documents and bond closing
- Represented a PURPA-qualifying facility before the Public Service Commission of West Virginia in a complaint case asking the PSC to require an electric utility to consent to a refinancing of the qualifying facility’s outstanding debt
- Served as lead counsel on the successful structuring of a major research nonprofit's corporate structure; the restructuring successfully positioned the nonprofit to conduct for-profit operations and enter into joint ventures through for-profit subsidiaries
- Represented municipalities and public service districts (water and sewer) before the Public Service Commission of West Virginia in rate proceedings and certificate applications
- Advised on city tax increment financing (TIF) agreements, and port authority bond documents, relating to the ground lease and construction of a parking garage by a bank affiliate