Foley is a leading firm in the field of public finance with not only deep transactional experience, but also knowledge of the structures of state and local government authorities and the limitations on governmental action. Our public finance lawyers also deal regularly with markets for sophisticated financial instruments. Foley’s public finance attorneys have served as bond counsel for over 80 years. Foley is also among the most innovative of firms in finding ways to make the tax-exempt market accessible to clients’ changing needs. Foley’s public finance attorneys have long been leaders in public finance with a yearly average of almost 300 transactions and an aggregate principal amount of more than $17 billion. Since January 2000, Foley has served nationwide as bond, issuer or underwriter’s counsel in over 2,540 issues aggregating over $128.6 billion.
Foley’s Public Finance attorneys are highly experienced in P3 and infrastructure project finance, bond and other debt offerings, including in connection with:
One question that often arises in a P3 transaction is the legality of financing on a tax-exempt basis certain improvements and the effect of the transaction on any tax-exempt securities that may have financed property to be used in the P3 arrangement. Our P3 experts include one of the principal authors of the federal tax regulations dealing with private business use of property financed with tax-exempt debt, including the provisions relating to remedial actions that need to be taken to preserve the tax-exempt status of such debt.