Public Finance

• Bond counsel, underwriting counsel, or borrower's counsel for various government agencies and municipalities in connection with the issuance of various  revenue bonds.
• Bond counsel
  • for a state agency in connection with the issuance of revenue anticipation notes. 
  • for various cities and towns in connection with the issuance of bond anticipation notes, tax anticipation notes and general obligation bonds. 
  • to the State in several issuances of general obligation tax anticipation notes and one issuance of general obligation refunding bonds.
  • to a regional school district in connection with the issuance of general obligation refunding bonds.
  • to a city housing authority in connection with the issuance of revenue bonds.
• We represented the Rhode Island Economic Development Corporation (RIEDC) in providing $14 million to an affiliate of Sage Hospitality, the developer of the old Masonic  Temple located in Providence, Rhode Island.  A 40-year-loan, at a ½ of one per cent interest rate, in exchange for the extinguishment of no less than $24 million in Rhode Island Historic Preservation Tax Credits, was issued on the project to redevelop the old Masonic  Temple into a Renaissance Hotel.  The RIEDC borrowed funds for the transaction from Bank of America, and the Governor agreed to request the General Assembly to appropriate each fiscal year funds sufficient to repay the obligation of the Corporation during FY 2008 through FY 2010.  The result:  an estimated net savings of $8 million for the state over the period of the tax credits.

• We represented Johnson & Wales  University in connection with financing or refinancing various campus projects in four different states through the issuance of

  • $48.3 million Rhode Island Health and Educational Building Corporation Higher Education Facility Revenue Bonds; 
  • $24.5 million City of North Miami, Florida, Educational Facilities Revenue Bonds; 
  • $50,000 North Carolina Capital Facilities Finance Agency Educational Facilities Revenue Bonds;
  • $29.7 million Colorado Educational and Cultural Facilities Authority Educational Facilities Revenue Bonds.