PUBLIC FINANCE: DESCRIPTION

McKenna Long & Aldridge's Public Finance practice group serves local, state, regional and national clients in a broad and diversified public finance practice. Members of the team have served as bond or underwriters' counsel in virtually every state in the country in transactions, totaling more than $33 billion in aggregate principal amount. These transactions have ranged from traditional public projects for state and local governments -- such as airport facilities, roads, turnpike facilities, water and sewer facilities and public buildings -- to bonds issued to benefit nonprofit and private facilities -- such as hospitals, universities, corporations and developers for projects such as pollution control facilities, multifamily housing and dormitory facilities. The forms of these financings have ranged from traditional fixed rate bond issues, such as general obligation or revenue bonds, to more sophisticated methods, such as synthetic refundings, crossover refundings, certificates of participation and various floating rate structures.

Our lawyers have worked on financings which include the privatization of facilities traditionally owned by public bodies and have substantial experience with various derivative products including interest rate swaps, detachable call options and inverse floating rate bonds. We also serve as secondary market disclosure counsel to several state and local government entities, including the State of Nevada and the Metropolitan Atlanta Rapid Transit Authority.

The reputation of our Public Finance team is founded not simply upon our ability to conduct traditional research and to interpret statutes and regulations in a conventional manner, but is built upon our success in developing innovative financing structures to meet ever changing needs of our clients.