Public Finance

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State and local units of government—including cities, townships, villages, counties, public authorities, drain commissioners, universities, and school districts—as well as nonprofit organizations in higher education, health care, and other sectors rely on Dickinson Wright’s public finance attorneys for bond counsel services. As a nationally recognized bond counsel firm, Dickinson Wright has more than sixty years of experience serving as bond counsel in public finance transactions.

Our lawyers are problem-solvers focused on the individual needs of each client and on creating legal solutions to satisfy those needs. When a client engages us to provide public finance advice, the client gains access not only to the collective experience of our public finance team, but also to the advanced concentrations we have developed across related areas. As a full-service law firm, our lawyers regularly collaborate with colleagues in real estate, mergers and acquisitions, bankruptcy, corporate finance, tax, securities, environmental, and health care to address every potential point of concern that may arise.

Awards and Recognitions

In addition to recognition by The Bond Buyer, a national public finance publication, our lawyers have been recognized by Best Lawyers®, Super Lawyers®, and Chambers USA for their work in public finance. Dickinson Wright’s public finance practice is listed in the top tier (Band 1) of Chambers USA rankings.

Our Services

Our public finance lawyers have served as bond counsel in virtually every type of public financing transaction. In addition, they have acted as underwriter’s counsel, issuer’s counsel, lender’s counsel, credit enhancer counsel, borrower’s counsel, and trustee’s counsel in connection with a wide range of tax-exempt and tax-credit bond financings.

Bond Counsel

Our public finance team has served as bond counsel across all facets of financing municipal projects and programs for states, cities, townships, villages, counties, building authorities, county road commissions, tax increment authorities, drainage districts, school districts, colleges and universities, public power agencies, and other public entities. We also have five decades of experience representing the State of Michigan and its agencies and authorities in complex bond financings.

We assist clients with:

  • General Obligation Bonds
  • Revenue Bonds
  • Tax Increment Financing Bonds
  • Health Care and Senior Housing Bonds
  • Multifamily and Single-Family Housing Bonds
  • Private Activity Bonds
  • Airport Bonds
  • Bond, Tax, and Revenue Anticipation Notes
  • Qualified 501(c)(3) Bonds
  • School District Bonds and cash flow financings
  • Charter School Financings
  • Special Assessment Bonds
  • Transportation Bonds
  • Innovative Debt Instruments
  • Installment Purchase Financings
  • State and federal loan programs, including SRF and USDA loans

Tax Counsel

We have niche experience in public finance tax law. Our lawyers advise clients on optimal tax structures and assist with compliance with tax laws applicable to tax-advantaged financings. We also counsel clients on post-issuance tax compliance matters.

Securities Counsel

We represent issuers, underwriters, and placement agents in the offer and sale of municipal securities. Our attorneys assist with the preparation of disclosure materials in compliance with state and federal securities laws and keep clients informed of developments that affect issuers of municipal securities and other obligated persons responsible for continuing disclosure.

Lender Counsel

We represent lenders in all aspects of public finance transactions, including the purchase of municipal securities and the issuance of letters of credit, standby bond purchase agreements, and other liquidity facilities.

Public Sector Law Counsel

We represent public sector clients in all state law matters related to public finance transactions. Our work also includes advising municipalities, public authorities, schools, universities, and other public organizations on a full spectrum of issues, including election law, environmental law, government procedures (including Open Meetings Act matters and local ordinances), labor and employment law, real estate, economic development, land use, and litigation.

Community and Economic Development

Public finance transactions frequently arise from community and economic development projects. Our attorneys have extensive experience working with municipalities, developers, lenders, and other participants on transactions that utilize public finance structures and development incentives, including state and federal tax credits and opportunity zone incentives.

For additional information, please see our  Tax Credit and Community  Finance  practice and our Land Use & Economic Development practice page.

  • Served as bond counsel to various state authorities, advising on such issues as cash flow borrowings, transportation, student loan, building authority, pooled financings, health care, housing, public universities, private colleges and tobacco securitizations.
  • Served as bond counsel to local units of government, including counties, cities, townships, villages, school districts, drainage districts, public power agencies, airports, water and sewer authorities, public school academies, community colleges, tax increment authorities and land bank authorities.
  • Served as bond counsel to state authorities and local economic development corporations on a broad range of private activity bond financings, including multifamily housing, single-family housing, healthcare, senior living, charitable and cultural institutions, solid waste disposal facilities, and manufacturing facilities.
  • Served as bond counsel to issuers effectuating tender transactions, including transactions simultaneously effectuating tenders, refunding bonds and financing capital projects, with separate credits and multiple liens.
  • Served as bond counsel to various municipal electric utilities and independent power producers and financed large electric generating stations, transmission, and associated facilities.
  • Served as counsel to public universities in connection with student housing, utility and parking system monetization projects through public private partnership structures.
  • Served as bond counsel to health care systems in wide range of health care financings, including the creation of master indenture obligated group structures.
  • Represented both national and regional underwriters in connection with the underwriting or private placement of municipal and private activity bonds.
  • Represented financial institutions in connection with the issuance of letters of credit and standby bond purchase agreements for credit enhancement of municipal bonds or the purchase of municipal bonds in private placement transactions.
  • Represented the State of Michigan in the Chapter 9 federal bankruptcy proceedings of the City of Detroit.
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