Bond Work

Extensive and Diverse Bond Transactions Experience

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Representing a Broad Range of Clients and Industries

Our clients range from small, first-time borrowers to large institutional entities from a broad spectrum of industries. The bond work done by our Public Finance attorneys includes:

  • Kaser Local Development Corporation $11,000,000 Education Revenue Bonds (Viznitz School Project), Series 2023A.
  • Town of Hempstead Local Development Corporation $74,525,000 Education Revenue Bonds (Evergreen Charter School Project), Series 2022A.
  • Nassau County Local Economic Assistance Corporation $90,000,000 Revenue Bonds (South Nassau Communities Hospital Project), Series 2022.
  • Town of Hempstead $19,945,000 Public Improvement Refunding Serial Bonds, 2021.
  • Town of Hempstead $140,048,572 Public Improvement Serial Bonds, 2021.
  • Town of Hempstead $42,107,700 Bond Anticipation Notes, 2020.
  • Erie County Fiscal Stability Authority $92,115,000 Sales Tax and State Aid Secured Bonds, Series 2017D.
  • Erie County Fiscal Stability Authority $62,745,000 Sales Tax and State Aid Secured Refunding Bonds, Series 2017C.
  • Erie County Fiscal Stability Authority $11,590,000 Sales Tax and State Aid Secured Bonds, Series 2017B.
  • Erie County Fiscal Stability Authority $32,075,000 Sales Tax and State Aid Secured Bonds, Series 2017A.
  • NYS Environmental Facilities Corporation Clean Water State Revolving Fund Bonds ($8,762,867 — Town of Tonawanda), Series 2017A.
  • JPMorgan Chase Bank, N.A. purchase of $995,000 Town of Livonia, Livingston County Public Improvement Bonds, 2017.
  • JPMorgan Chase Bank, N.A. purchase of $1,725,000 Village of Nyack, Rockland County Statutory Installment Bond, 2017.
  • Nassau County Local Economic Assistance Corporation $3,064,000 Revenue Bonds (EPIC 2016).
  • Nassau County Local Economic Assistance Corporation $7,786,000 Revenue Bonds (UCP 2016).
  • Town of Tonawanda $20,175,000 Bond Anticipation Notes, 2016.
  • Nassau County Local Economic Assistance Corporation $13,632,000 Revenue Bonds (Alliance of Long Island Agencies Pooled Facility), Series 2015.
  • Town of Tonawanda $19,525,000 Bond Anticipation Notes, 2015.
  • Chautauqua Lake Central School District $2,515,000 Bond Anticipation Note, 2013.
  • Suffolk County Economic Development Corporation $4,837,000 Taxable and Tax-Exempt Revenue Bonds (ACLD Project) Series 2012B-A, B-B and B-C.
  • MBBA/City of Buffalo $13,860,000, Series 2012A Bonds.
  • Erie County Fiscal Stability Authority $130,750,000 Sales Tax and State Aid Secured Bonds, Series 2011A, 2011B and 2011C.
  • Town of Tonawanda $10,000,000 Serial Bonds, 2010 and $3,800,000 Bond Anticipation Note, 2010.
  • Buffalo Municipal Water Finance Authority $23,975,000 Water System Revenue Bonds, Series 2010A(1) and Series 2010A(2).
  • Town of Amherst Local Development Corporation $29,000,000 Student Housing Facility Revenue Refunding Bonds (UBF Faculty Student Housing Corp. Project), Series 2010A.
  • Genesee County Funding Corporation $3,900,000 Tax-Exempt and Taxable Revenue Bonds (2010 Genesee Gateway Local Development Corporation — MedTech Project).
  • City of Glen Cove, NY $2,597,000 Bond Anticipation Notes.
  • Nassau County Industrial Development Agency $55,000,000 Civic Facility Revenue Bonds (Cold Spring Harbor Laboratory Project), Series 2006.
  • City of Glen Cove, NY $2,445,000 Bond Anticipation Notes, Series 2006.
  • Nassau Regional Off-Track Betting Corporation $21,810,000 Revenue Bonds (Nassau County Support Agreement), Series 2005.
  • Dormitory Authority of the State of New York $28,840,000 Canisius College Insured Revenue Bonds.
  • Briarcliff Manor Union Free School District $3,585,000 School District Refunding Bonds.

Phillips Lytle’s first-time and innovative issuer experience:

  • Acted as bond counsel to the Erie County Fiscal Stability Authority from its inception.
  • Acted as counsel to Placement Agent in the issuance of $21,750,000 of taxable notes issued by a limited partnership to finance the reconstruction of Hotel Thayer at the U.S. Military Academy in West Point, NY. The notes, limited recourse obligations of the limited partnership, were guaranteed by the U.S. Army Morale, Welfare and Recreation Fund (the Fund’s first employment ever as a financial guarantor). The Fund is a non-appropriation fund instrumentally of the U.S. Government.
  • Acted as underwriters’ counsel in connection with initial issuance of $320 million of bonds secured by project revenues and district service charges as the initial project financing for the Palm Beach, FL Solid Waste Authority to finance solid waste and resource recovery facilities. This required the preparation and development of an extensive official statement disclosure document.
  • Represented the City of Glen Cove in its first issuance of general obligation debt for a private use facility in a public-private partnership.
  • Represented the Nassau Off-Track Betting Corporation in its issuance of $8,200,000 of Bond Anticipation Notes as a first-time issuer.
  • Participated as bond counsel in the development of an innovative (first-time) financing in which a not-for-profit corporation “civic facility” financing under the New York State Industrial Development Agency Act was linked to “true lease” government users of the bond-financed facility. Extensive legal research was required in order to determine if the issuer, the Yonkers Industrial Development Agency, was empowered under the New York State Industrial Development Agency Act to undertake this transaction.
  • Acted as underwriters’ counsel in the acquisition of a New York county hospital system by a newly formed public benefit corporation in connection with the first-time issuance of bonds by such corporation.
  • Drafted and negotiated legislation to substantially recast and expand powers of Minnesota Energy and Economic Development Authority to finance projects and secure its debt. The legislation was subsequently validated by the Minnesota Supreme Court in a special constitutional test case.
  • Created two separate securitization financing programs for Minnesota Energy and Economic Development Authority—one involving the establishment of a state-funded guarantee fund to secure bonded debt of the Authority issued to finance loans for energy, pollution control or small business development purposes, and the other involving the issuance of taxable debt to buy a portfolio of secondary market loans guaranteed by the U.S. Small Business Administration. Both programs involved serving as Bond Counsel in connection with initial bond issuance for such programs and creating all necessary bond documents.
  • Acted as bond counsel to the Nassau County Local Economic Assistance Corporation from its inception.

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