Overview Experience Events News Intelligence David Y. Bannard Partner dbannard foley.com Download vCard David Y. Bannard is a partner and business lawyer with Foley & Lardner LLP. He focuses his practice on representing airports in a wide variety of matters, including regulatory compliance, airport financings, leasing, rate-setting and concessions agreements. Mr. Bannard is an experienced bond lawyer, having served as bond counsel to airports and other issuers, and counsel to borrowers and underwriters, as well as in-house issuer’s counsel, in many transactions. He is a member of the firm’s Finance & Financial Institutions, Public Finance, Health Care Finance and Real Estate Practices. Mr. Bannard is the leader of the firm’s Airport Services Practice and a member of the Health Care Industry Team. Representative Experience Mr. Bannard’s airport experience includes: Assisting airports in negotiation of new use and lease agreements or development of rate ordinances. Counseling 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. Serving as bond counsel to the Massachusetts Port Authority, including the restatement and periodic “roll” of its $150 million commercial paper program and issuance of over $1 billion of new money and refunding bonds since 2012; and for more than $200 million of taxable and tax-exempt bonds to fund construction of a new airport consolidated rental car facility. Served as co-bond counsel to the Greater Orlando Aviation Authority including developing new subordinate lien indenture. Served as underwriter’s counsel for $214 million financing in fall of 2015. Serving as disclosure counsel to the Salt Lake City Department of Airports. Leading team that developed new Official Statement for $3+ billion capital program. Serving as underwriter’s counsel for multiple airport financings. Providing bankruptcy counsel to consortia of airports, as well as individual airports for specialized matters, in the American, Delta, and Northwest bankruptcies. Defending Part 16 complaints brought against airport sponsors. Developing Minimum Standards and airport rules and regulations. Assisting airports with contracting and leasing for many types of airport concessions, including food and beverage, rental cars and advertising, including developing RFPs and form contracts. Representing airport operator in negotiation of terminal development project by private developer. Assisting airports with 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, hangar and fuel facility leases on behalf of airports with many major carriers, including leases that serve as security for special facilities revenue bonds. Negotiating leases with fixed base operators (FBOs). Providing comments on proposed FAA rules, including the 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 preparation of PFC applications approved by the FAA authorizing Massport to impose and use 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 system. 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. Thought Leadership Mr. Bannard speaks regularly at seminars on aviation finance and legal matters, including the Airports Council International – North America (ACI-NA) conferences, the Bond Attorneys’ Workshop, the ABA Air and Space Forum and the American Association of Aviation Executives' conferences. He is principal author of the Airport Cooperative Research Program’s (ACRP) Legal Research Digest 19: Legal Issues Related to Developing Safety Management Systems and Safety Risk Management at U.S. Airports (Jan. 2013). He has also participated in several other ACRP projects, both as an author and as a panelist. Mr. Bannard has also published recent articles and led webinars on the SEC’s proposed amendments to Rule 15c2-12, establishing airport rates and charges by ordinance, financing airport access projects, the SEC’s municipal securities enforcement actions, the Municipal Advisor Rule and the MCDC Initiative. Affiliations Mr. Bannard is a past chair of the board of the World Business Partners/Associates of ACI-NA and a former member of the board of ACI-NA and he is the secretary of the board of the Transportation and Transportation Security Law section of the Federal Bar Association. He is also the chair of the Legal Committee of the ACRP and a member of the ACI-NA Legal Steering Committee. Education 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. Admissions and Professional Memberships Mr. Bannard is admitted to practice in Massachusetts. He is a member of the American Bar Association, the Federal Bar Association and the National Association of Bond Lawyers. Community Engagement Mr. Bannard 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.