Details and deadlines make all of the difference in public finance, and Paul C. Marengo’s 40 years of experience in the field have earned the trust of his many long-term clients. Paul works on almost all types of tax-exempt and taxable state and local government financings. He serves as bond counsel, underwriters counsel, issuer’s counsel and borrower’s counsel with calm assurance and attention to details. He takes pride in thoroughly understanding clients’ businesses, their problems and the larger contexts in which problems arise.
Beyond financing transactions, clients rely on Paul to draft legislation and administrative rules, prepare model disclosure documents, and advise on recent developments in law and regulations.
The tax side of public finance is at the heart of Paul’s current bond counsel practice. He provides tax advice for such complex matters as single family and multi-family housing issues, tax increment financings, toll highway and sports facility revenue bonds, and variable rate financings with integrated swaps. Local governments and state agencies have benefitted from his aggressive and successful defense of Internal Revenue Service (IRS) examinations of the tax-exempt status of their bonds, avoiding large penalties and potential embarrassment.
Day-to-day issues confronting governments, including open meeting laws, freedom of information requests, administrative rulemaking and budget issues are a major part of Paul’s experience. He has been general counsel to two state agencies and several Illinois municipalities and special districts. His clients appreciate how he explains difficult and complex matters clearly to clients and others.