Public Trust Law and Tax Exempt Financing

For approximately 50 years, the Firm has represented both State and local beneficiary public trusts engaged in industrial and economic development, and in the operation (including environmental permitting and compliance) of various ancillary services, such as treated water, waste water, process steam and airport services. We have also represented companies who contract with public trusts to develop and operate new industries and plants, as well as users of the various ancillary services referenced above. These projects typically involve negotiation and preparation of development agreements, acquisition or construction agreements, industrial leases, utility service agreements and related documentation. Financing may be either taxable or tax exempt, and may involve loan agreements, bond indentures or securities offering or underwriting documents (both publicly offered as well as privately placed). Where tax exempt financing is utilized, the Firm has acted as both counsel to the public trusts which act as issuer of the tax exempt indebtedness and as counsel to the companies which own and operate facilities constructed or acquired with the proceeds of such tax exempt financing.