State and Local Government

State and Local Government

Overview

State and local governments play a large and crucial role in our nation’s economy. Fittingly, state and local government law has been an integral part of our firm’s practice for many decades. We provide comprehensive legal services to governmental entities as well as to organizations and companies that do business with them, with practice areas ranging from finance to counseling, compliance and litigation. This breadth of experience gives us the broadest possible perspective when representing our clients’ interests.

Public Finance

Recently ranked in the “National First Tier (2014)” and “Metropolitan Chicago First Tier (2014)” in the U.S. News and World Report’s U.S. News – Best Lawyers “Best Law Firms” report., our public finance practice is experienced in every aspect of the field, from the issuance of debt to maturity or pre- and post-default. Our services extend to:

  • General Obligation Bonds
  • Enterprise and Utility Revenue Bonds
  • Installment Purchase Contracts and Leasing Transactions, including certificates of participation
  • Cash Flow Borrowings
  • Single and Multifamily Housing Revenue Bonds
  • Healthcare, Educational and Cultural Facility Financing
  • Industrial Development, Pollution Control and Other Conduit Financing
  • Tax Increment and Special Service Area/District Financing
  • Special Purpose Financing, including public-private partnerships and project financings
  • Workout and Restructuring Transactions, including bankruptcy and related litigation
  • Ancillary Services, including bond tax audits and securities law compliance

Litigation

Representing government in litigation requires specialized knowledge and a delicate approach. Our experienced litigators have the acumen to achieve results in cases involving:

  • Finance
  • Construction Law
  • Civil Rights, Employment and Union Relationships
  • Land Use
  • Construction Disputes
  • Procurement Challenges
  • Housing Challenges
  • Internal and Government Investigations

Legislation

From developing and executing strategic planning, to analyzing and drafting legislation, we are adept at handling cases concerning the legislative process for clients in both the public and private sectors. Our clients have included:

  • State and Local Governments
  • Financial Institutions
  • Telecommunications Companies
  • Hospitals
  • Public Utilities
  • Professional and College Sports Teams

Municipal Insolvency and Distressed Public Debt

We provide pragmatic advice and strategic planning for any client involved in a distressed municipal bond transaction. Our bankruptcy and public finance attorneys work closely to develop innovative strategies for each municipal transaction.

We represent indenture trustees, institutional debt holders, hedge funds, and secured lenders in out-of-court workouts and municipal insolvency proceedings. Most recently, our restructuring team represented a significant certificate holder in Detroit’s insolvency proceeding. We represent clients in virtually all industry sectors of municipal investment, particularly:

  • health care
  • infrastructure
  • hotels
  • manufacturing
  • education
  • housing

We have acted as lead counsel for the Dormitory Authority for the State of New York (DASNY) in connection with the bankruptcies of the Sound Shore Medical Center of Westchester, NY, the Mount Vernon Hospital, and affiliates thereof. We represented the Authority in the bankruptcy of the TLC Health Network which includes the Lake Shore Hospital and affiliates. Those matters had real estate dimensions. The firm also has provided DASNY with more general creditor rights advice in the context of loans from the Distressed Hospital Loan Pool and Section 2850 of the Public Health Law. In late December, 2014 we provided DASNY with comprehensive model loan documents and advice intended to maximize the Authority’s rights as a lender/creditor to distressed health care facilities.

Construction and Project Controls

  • Construction Contracts: We are highly experienced in preparing construction contracts for owners and developers of real estate projects. In performing this function, we assist clients in establishing project delivery systems and structuring contractual relationships among key project participants.
  • Project Controls: Our construction lawyers are seasoned professionals in the field of project controls, focused on helping clients to complete projects on time and on budget. The objective is to anticipate project-related problems and address them while work is still in progress, rather than postponing construction disputes for subsequent litigation or arbitration.
image description

Upward trend in municipal bond ratings?

New SEC rule: NRSROs must weigh risk consistently using same rating criteria for private sector corporate issuers and municipal governments -- possibly leading to an upward trend in municipal bond ratings. This view however is not universal. More

image description

Direct lending: Avoiding state law landmines

As direct bank lending to local governments grows to encompass more complex transactions including variable rate obligations with puts, tenders and changes on interest rate modes, governmental entities need to assure that there is clear authority to enter into these types of arrangements. More