Practices: General Obligation Bonds

The tax-exempt financing needs of villages, cities, counties, school and park districts, states and similar governmental entities require the issuance of general obligation or revenue bonds. Because these debt securities are typically backed by the issuer’s power to levy taxes, they often involve sensitive political considerations. If you are a treasurer or comptroller of a governmental organization that is planning a general obligation bond issue, you need bond counsel who understands that your optimum financing requirements include a practical feel for blending the ideal with the politically possible.

Experienced Counsel

Ungaretti & Harris gives you the perspective and experience of bond counsel who have handled billions of dollars in tax exempt financings. Our practice is national in scope, as we have served as bond counsel, issuer’s counsel or underwriters’ counsel in numerous states and the District of Columbia. We have particular strength in Illinois, our home state, where our lawyers handle general obligation financing for the State of Illinois, the City of Chicago, the counties of Cook, Will and DuPage, the Board of Education of the City of Chicago, and numerous villages, school districts, park districts and other governmental entities. You can benefit from our experience in handling a wide range of applications, including financings for:

• Education (primary, secondary, higher).
• Housing.
• Municipal deficit.
• Municipal improvement (water, sewer, airport, parks).
• Healthcare.
• Utilities.
• Industrial development.

Complete Service

You get a complete service package when you engage us as bond counsel. As lead counsel on any issue, you can rely on us to:

• Draft all documents relating to authorization, sale and delivery.
• Prepare a definitive legal opinion on enforceability under applicable state and federal laws, including state “blue sky” laws and federal securities regulations.
• Structure the bond for maximum efficiency.
• Provide full assistance when a bond issue requires voter approval, including preparation of the necessary referenda and advice on election and bond procedures.

Effective Partner

As a public finance official, you have to balance financial requirements with financing sources – including excellent ties with underwriters – and political realities. Ungaretti & Harris is the effective partner you need, and can handle the entire bond structuring, documentation and approval process.