Hawkins Delafield & Wood LLP has substantial experience in the financing of ports and harbors.  The Firm has served for over 20 years as bond counsel to The Port Authority of New York and New Jersey and assisted that issuer in the development of its consolidated revenue financings for several billion dollars of port, airport, roadway, mass transit and other projects.  Hawkins has also acted and continues to act as bond counsel on many revenue bonds issues for Delaware River Port Authority of Pennsylvania and New Jersey, as well as the Virgin Island Port Authority.  The Firm served as Bond Counsel to the Joliet Regional Port District (Illinois) in connection with its Marine Terminal Revenue Bonds which were structured with our legal guidance as one of the earliest low floater demand bond issues.

Hawkins currently represents several shipping and ship management companies.  Through its work with these companies, the Firm has become familiar with a variety of legal and regulatory issues relating shipping and shipping financing, thus adding a level of understanding of port and harbor issues not shared by most municipal finance firms.

The Firm's Ports and Harbor Finance practice is exceptional in terms of dollar volume, number and geographic breadth of transactions. We have participated as bond counsel or underwriters’ counsel for harbor financings for general and special facilities.

Examples of our ports and harbors experience include the following:

Portland, ME
Hawkins acted as Bond Counsel for the City of Portland’s (Maine) $15,000,000 general obligation bonds, the proceeds of which were used to pay the City’s share of the costs involved in the building and development of pier and dry dock facilities at and adjacent to the Maine State Pier in Portland Harbor.  The facilities were to be operated by Bath Iron Works Corporation and used primarily for the overhauling, repair, refitting and building of ships and allied activities. 

Port of Tacoma, WA
The firm acted as underwriters’ counsel with respect to the Port of Tacoma’s issuance of $58,475,000 Revenue bonds.  The bonds were issued to refund prior bonds, pay and retire second lien revenue warrants of the Port and to finance the cost of certain improvements to the facilities of the Port.

New Jersey Economic Development Authority
Hawkins served as Bond Counsel to the New Jersey Economic Development Authority’s issuance of its Adjustable Rate Port Facility Revenue Bonds (Trailer Marine Transport Corporation Project), issued to finance the acquisition and construction of a terminal facility for large, single and multi-deck ocean-going barges of the roll on/roll off variety.

Virgin Islands Port Authority
Hawkins has served as Bond Counsel to the Virgin Islands Port Authority since its creation in 1968 through 1985 and from 1992 and thereafter.  As Bond Counsel to the Authority, we were involved in structuring the $9,250,000, Marine Division Revenue Bonds, 1985 Series A.  In June, 1992, we served as Bond Counsel in connection with the issuance of subordinated marine revenue bonds to enable the Authority to reimburse itself for funds expended for improvements to certain marine and airport facilities. The structuring of the 1992 subordinated revenue bond transaction required an innovative financing structure that utilized one legal analysis for local law purposes and another legal analysis for purposes of federal tax compliance.  We also served as Bond Counsel to the Authority in connection with the $3,500,000 Marine Division Subordinated Revenue Bonds, dated September 25, 1997, which provided financing for a portion of the costs of the St. Croix Molasses Pier.  In 1998, we served as Bond Counsel in connection with the issuance of the Airport Revenue Bonds, Refunding Series 1998A (AMT) in the principal amount of $19,280,000 (refunding certain Airport Revenue Bonds for the St. Thomas Cyril E. King Airport), the Rohlsen Terminal Bonds in the principal amount of $8,750,000 (financing the expansion of the Henry E. Rohlsen Airport on St. Croix) and the Marine Revenue Bonds, Refunding Series 1998A.  In January 2003, the firm served as Bond Counsel for the Authority in connection with $18,005,000 (Tax-Exempt) and $17,425,000 (Federally Taxable) Virgin Islands Port Authority Marine Revenue Bonds.

Virgin Islands Public Finance Authority
In October 2002, Hawkins served as underwriters’ counsel on the Authority’s $20,800,000 Revenue Bonds (Federal Highway Reimbursement Anticipation Loan Note).  The bonds are special limited obligations of the Authority, payable solely from funds authorized by the Transportation Equity Act for the 21st Century (“TEA-21”), on behalf of the Virgin Islands Port Authority, for the purpose of financing certain improvements on the Island of St. John for Enighed Pond and on the Island of St. Thomas for the Red Hook Pier.

St. Lucia Air and Seaport Authority
In September 2000, the Firm was retained as Bond Counsel by the St. Lucia Air and Seaport Authority to assist in the structuring and sale of securities in the U.S. capital markets to be secured by head airline passenger departure taxes and cruise passenger head taxes payable to SLASPA.  After selection of an investment banking firm and preparation of a feasibility study, the financing was put on hold pending the return of departure tax and head tax revenues to the pre-September 11 levels.