Focused on Bond Financing

The municipal finance practice group of Archer Norris offers deep experience in a wide array of municipal and public-private financing transactions. Our attorneys serve as borrower’s counsel, underwriter’s counsel and disclosure counsel in connection with tax-exempt and taxable bonds and obligations.

Guiding Public Finance for California Interests

The firm regularly participates in tax-exempt financings involving solid waste companies, healthcare facilities, counties, cities, special districts and conduit financings for 501(c)(3) organizations and private enterprises.

These finance transactions regularly include issuances of revenue bonds, certificates of participation and conduit financings enhanced by Letters of Credit, Confirming Letters of Credit, Fannie Mae direct pay irrevocable transferable credit facilities, and financial guaranty insurance policies.

Structuring Advantageous Bond Deals 

Our bond attorneys work closely with attorneys in the firm’s tax practice group in the structuring of transactions and delivery of opinion letters. We assist our clients in negotiating the terms and conditions of credit supports, including letters of credit.

$25.9M CPCFA Variable Rate Demand Solid Waste Disposal Revenue Bonds

• Enhanced by an irrevocable direct pay Letter of Credit issued by East-West Bank, with the letter of credit enhanced by an irrevocable Confirming Letter of Credit issued by California State Teachers’ Retirement System. The proceeds of the sale of the Bonds were loaned by the CPCFA to California Waste Solutions, Inc., a California corporation, to be used to acquire, construct, renovate and equip certain solid waste disposal facilities located in the Cities of Oakland and San Jose, California

$9.9M CA Statewide Communities Development Authority Revenue Bonds

• A conduit financing. The Bonds were issued for the purpose of financing and refinancing the acquisition, design, construction and equipping of certain community facilities to be owned and operated by YMCA. Payable solely from and secured by a pledge of revenues, the Bonds were enhanced by a Letter of Credit

$26M Certificates of Participation for Healthcare District

• For the purpose of providing the Healthcare District funds to finance working capital expenses. The COPs were secured by proceeds of the parcel tax passed in a special election by the District electorate

$6.8M City of Martinez Multifamily Mortgage Revenue Refunding Bonds

• For affordable housing. The prior series of bonds (backed by a GNMA mortgage security) were defeated with the proceeds of these refunding bonds issued by the City of Martinez for Muirwood Square Investors, A Limited Partnership

$22.45M County of Madera 2005 Certificates of Participation

• Issued to finance a portion of the cost of the construction of a new government center and related parking structure and to purchase a surety bond for deposit in a reserve fund for the lease payments. The COPs were guaranteed under a financial guaranty insurance policy issued by Ambac Assurance Corporation

Fast Facts

• Excel in handling complex matters - negotiating financial and business agreements involving hundreds of millions of dollars.
• Legal resources to meet the challenge of the competitive marketplace.