Municipal Finance & Special Districts

Working with attorneys who understand the complex web of federal, state, and local statutes and regulations that govern public sector financings is essential for public officials. Our attorneys have substantial experience as bond counsel to numerous municipalities throughout New York State. Our legal knowledge is complemented by the practical judgment and experience of our attorneys, some of whom have served as public officials.

We currently serve as bond counsel to hundreds of counties, cities, towns, villages, fire districts, school districts, utility districts, state and local public authorities, and public benefit corporations. In addition to governmental entities, we also regularly represent developers, lenders, underwriters, bond trustees, conduit issuers, credit enhancement providers, and other entities involved in public project financing transactions. Our attorneys have significant experience in all tax-exempt and taxable forms of debt offerings, including general obligation bonds and revenue bonds.

We are involved from the project structuring phase through the closing of permanent financing, working closely throughout with public officials, municipal employees, engineers, architects, financial advisors, bankers, underwriters, bond insurers, rating agency representatives, and other professionals. A typical matter often includes the analysis of and guidance regarding the New York State Environmental Quality Review Act (SEQRA), the referendum process, the debt issuance process, establishment and expenditures from reserve funds, the public hearing process, notice requirements, preparation of offering statements, and refinancings.

After closing, we assist our clients with post-issuance compliance matters and handle both current and advance refundings when we identify refinancing opportunities that will reduce our clients’ debt service payments.

Our Experience

Tax-exempt and taxable forms
Cash Flow Financings (TANs & RANs)
Project Financings
Lease Purchase Financings
Bond Anticipation Note Financings
Serial Bond Financings
SEQRA
Special District establishment, operation, and financing
Special Districts
- District formation, amendment, and dissolution
- Establishing benefit assessment formulas
- Grants
- Reporting Requirements
Tax Cap Laws
Debt Issuance
Taxation Limitations

Representative Work

Internal Revenue Service (IRS)
Securities and Exchange Commission (SEC)
New York State Comptroller’s Office (OSC)
New York State Environmental Facilities Corporation (EFC)
New York State Department of Environmental Conservation (DEC)
New York State Office of Parks, Recreation, and Historic Preservation (SHPO)
U.S. Department of Agriculture Rural Development Agency (RDA)

Our Affiliations

New York State Government Finance Officers Association (GFOA)
New York State Association of Counties (NYSAC)
New York State Association of School Business Officials (ASBO)
New York State Association of Towns
New York State Conference of Mayors and Municipal Officials (NYCOM)
National Association of Bond Lawyers (NABL)

Recognitions

We have a state-wide public project finance practice and are consistently ranked among the leading bond counsel firms in New York. Hodgson Russ opinions are a recognized and accepted standard in the financial marketplace. The firm is listed in the “Municipal Bond Attorneys” section of The Bond Buyer’s Directory of Municipal Bond Dealers of the United States (the “Red Book”).