Foley & Lardner LLP

David Y. Bannard

Partner

David Y. Bannard is a partner with Foley & Lardner LLP, where he is a member of the firm’s Finance & Financial Institutions, Public Finance, Health Care Finance & Restructuring and Real Estate Practices. He is the leader of the firm’s Airport Services Practice and also a leader of the firm’s Public/Private Partnership Practice and a member of the Health Care Industry Team.

Mr. Bannard focuses his practice on representing airports in a wide variety of matters, including leasing, financing, rate-setting and concessions agreements, as well as general public finance matters. Mr. Bannard is an experienced bond lawyer, having served as bond counsel and counsel to borrowers and underwriters, as well as in-house issuer’s counsel, in many transactions.

Mr. Bannard’s airport experience includes serving as counsel for:

  • Assisting airports in negotiation of new use and lease agreements or development of rate ordinances.
  • Airports around the country in regulatory matters, including providing advice on matters relating to compliance with federal grant assurances, the FAA's revenue use and rates and charges policies, and development of air service incentive programs.
  • Underwriter’s counsel for a $42 million special facility revenue bond financing for airport facilities.
  • Bond Counsel to an airport for the issuance of $275 million of new money and refunding bonds.
  • Bond Counsel for the restructuring of a $100 million commercial paper program.
  • Bond Counsel for over $200 million of tax exempt and taxable bonds to fund construction of a new consolidated rental car facility. Also drafted and helped negotiate leases with each rental car company.
  • Principal author of ACRP Legal Research Digest 19: Legal Issues Related to Developing Safety Management Systems and Safety Risk Management at U.S. Airports (Jan 2013).
  • Preparation of PFC applications.
  • Contracting and leasing for many types of airport concessions, including food and beverage, rental cars and advertising, and the development of form RFPs and contracts.
  • Development of airport facilities, including negotiation of term sheets and development agreements; negotiating leases; closing financings; and providing counsel through the construction phase of large projects.
  • Negotiating terminal and fuel facility leases on behalf of airports with many major carriers, including leases that serve as security for special facilities revenue bonds.
  • Providing comments on the FAA’s proposed safety management system rulemaking.
  • Representative projects include both traditional public sector development and innovative public/private partnership structures.

Prior to joining Foley, Mr. Bannard served as the deputy chief legal counsel of the Massachusetts Port Authority, where he oversaw all transactional legal matters. His responsibilities included:

  • Legal oversight of all financial matters, including debt issuance and financial disclosure.
  • The issuance of over $2 billion in airport debt, including consolidated revenue bonds; special facilities revenue bonds, PFC-backed bonds, and commercial paper.
  • The preparation of PFC applications approved by the FAA authorizing over $1 billion for both airside and landside development.
  • The negotiation, permitting, financing, development, construction and leasing of:
    • Terminal A at Logan Airport;
    • the Logan Airport Hilton Hotel;
    • two terminal expansion projects for US Airways; and
    • the Logan Airport fuel farm.
  • Inter-governmental negotiation, including serving as the legal liaison from Massport to the Central Artery/Tunnel project (the "Big Dig"), and negotiating payment in lieu of taxes agreements.

Mr. Bannard speaks regularly at seminars on aviation finance and legal matters, including the Airports Council International – North America (ACI-NA) Legal Issues Seminar, the Bond Attorneys’ Workshop, the ABA Air and Space Forum and the American Association of Aviation Executives' conferences.

Mr. Bannard received his J.D. from Boston College Law School (cum laude, 1988), where he was an editor and member of the Boston College Law Review. He holds a master's degree in music from Northwestern University and a bachelor's degree, with distinction, in music education from Indiana University School of Music.

Mr. Bannard is admitted to practice in Massachusetts. He is a member of the American Bar Association and the National Association of Bond Lawyers. He is vice chair of the Board of the World Business Partners of ACI-NA. He is the former vice president of the board for Habitat for Humanity North Central Massachusetts, Inc., and he was awarded the Volunteer Lawyers Project Pro Bono Award.

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