Explore Our Capabilities

Public Finance

Overview

The municipal bond market has experienced remarkable challenges during the last 10 years, including the failure of AAA-rated bond insurers, the collapse of the auction rate bond market, failed remarketings caused by the financial crisis, and the elimination of advance refundings and tax credit bonds. In the midst of all this, we have experienced an increase in compliance and enforcement at the federal level with both the Internal Revenue Service and the Securities and Exchange Commission.

In times like these, issuers and other market participants need a law firm with a broad and deep level of experience that can react quickly and thoughtfully to an issuer’s needs – and that will be proactive in alerting issuers to market developments. With 15 lawyers across six offices in Georgia and the Carolinas, experience representing both issuers and financial institutions, and a dedicated public finance tax partner, Parker Poe provides clients with responsive, thoughtful guidance as they navigate today’s complicated municipal bond market.

We combine the talent and experience of national bond firms with the unrivaled knowledge of local issues in the Southeast. And as an integral part of a full-service firm, we can bring the resources of the entire firm to bear on any particular legal issue.

Highlights of Our Public Finance Team

  • National Tier 1 ranking by Best Lawyers and U.S. News & World Report for three straight years. 
  • Ranked 5th in Southeast by dollar volume of issuance in 2017, according to Thomson Reuters.
  • Lawyers recognized in Chambers and Best Lawyers.
  • Lawyers have served on the board of directors of the National Association of Bond Lawyers and regularly lead discussions at NABL conferences.
  • Two Fellows in the American College of Bond Counsel.

Innovative Approach
Our team has pioneered a variety of innovating financing structures to help meet the ever-changing needs of our clients. Examples include:

  • First unenhanced tax increment financing completed in North Carolina.
  • First county tax increment financing in South Carolina.
  • First Federal Highway Administration loan in Georgia under the Transportation Infrastructure Finance and Innovation Act (TIFIA).
  • First bond financing for a North Carolina charter school.
  • First commercial paper financing for governmental units in North Carolina.
  • First Grant Anticipation Revenue Vehicles (GARVEE) bond financing in Georgia.
  • First installment purchase revenue bond financing for a school district in South Carolina.
  • First financing for a solid waste authority under North Carolina legislation allowing counties to create solid waste authorities.

Areas of Focus

Government Financings

Government financings are our bread and butter. We have served as bond counsel for the State of North Carolina, special tax counsel to the State of South Carolina, and bond counsel for various state agencies in Georgia. We have also served as bond counsel for hundreds of local governments throughout our geographic footprint.

Health Care

We are a Southeastern leader in health care financings, representing borrowers, lenders, and underwriters in public and private finance transactions. Our practice includes academic medical centers, multi-hospital systems, and sole source community providers.

Higher Education

We are bond counsel for 14 of the 16 universities in the University of North Carolina system and many private colleges and universities. Our clients include research universities, nationally ranked liberal arts colleges, and regional colleges and universities. As with our other focus areas, we work with banks and underwriters on public offerings and other finance transactions for institutions of higher education.

Charitable Organizations

In addition to our work for nonprofit health care providers and institutions of higher education, we work with other charitable organizations, including 501(c)(3) low-income and senior housing facilities, private secondary schools, charter schools, YMCAs, and museums. We represent those organizations as well as the bankers and underwriters who form part of their financing teams.

Tax Compliance & IRS Audits

As one of the only firms in the Southeast with a local partner who focuses solely on tax aspects of tax-exempt and other tax-advantaged financings, we are uniquely positioned to provide sophisticated tax advice to our clients. All our clients benefit from our tax experience, regardless of the size of their transaction or its complexity.

Our tax work includes analysis and consultation on transactions involving various creative structures such as new markets tax credits. In addition to our transaction-based work, we have defended numerous audits of tax-exempt bonds and tax credit bonds before the Internal Revenue Service. We also serve as special counsel to issuers such as the State of South Carolina.

Representative Experience

  • Served as bond counsel or underwriter's counsel in all types of financings for the cities of Raleigh, Greensboro, and Durham, North Carolina, as well as that state's two largest counties and many others.
  • Served as bond counsel to a metropolitan Atlanta county in connection with a publicly offered, taxable stadium bond refunding.
  • Served as bond counsel to a Georgia water authority for privately placed, forward delivery direct purchase refunding bonds.
  • Served as bond counsel to WellStar Health System in an $800 million multi-issuer, multi-mode bond issuance to refinance its acquisition of five hospitals from Tenet Healthcare and restructure other debt.
  • Served as bond counsel for Georgia’s State Road and Tollway Authority on a $350 million GARVEE bond financing.
  • Served as bond counsel for the City of Charlotte in a $300 million, three series revenue bond financing and refinancing of projects at Charlotte-Douglas International Airport and wrote an amended and restated master bond document for its Airport Revenue Bonds (with majority bondholder consent).
  • Served as bond counsel for the University of North Carolina at Chapel Hill in a $550 million, three series financing to refinance and restructure fixed and variable rate debt.

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Professionals

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