Hawkins Delafield & Wood LLP has played a leading legal role in the development of financing and loan programs for drinking water and sewage treatment facilities. Working directly with federal and state officials and with the investment banking community, we have assisted states in developing a statutory and program framework to qualify for receipt of federal funds under the Clean Water Act and the Safe Drinking Water Act and to implement programs at the state and local level.

Hawkins has developed legal structures and loan programs for environmental facilities such as water supply and water pollution control facilities. Working with state governments under the federal clean water and drinking water state revolving fund programs, Hawkins has drafted legislation, regulations and loan, bond, financing and disclosure documentation to help implement these vital environmental programs.

Since the inception of the federal state revolving fund program for low cost funding of wastewater treatment facilities, the Firm has worked with more state and local governments, participated in more financings, and rendered bond or tax counsel opinions on a higher dollar volume of bonds for leveraged wastewater SRF programs than any other law firm. The states in which we have worked in a central structuring role on SRF-funded loans include Connecticut, New York, Maine, Wisconsin, Minnesota and Louisiana. This work, together with our water and sewer revenue bond experience, has involved us in the widest possible array of institutional structures for the financing and management of regional water and wastewater systems.

The following transactions represent a few highlights of our water and sewer practices:

New York State SRF Hawkins participated, from the beginning, in the development of the New York State SRF financing program, which has a relatively high degree of complexity and is widely considered the premier SRF program in the nation. The Firm structured the existing SRF programs in a way that accelerated the ability of the State to finance eligible projects through the issuance of bonds while at the same time providing financing at below-market rates. In addition, working with the New York State Environmental Facilities Corporation and the State's Department of Environmental Conservation, the Firm created documentation at the state and local level that implements project financings and provides security for the repayment of SRF financial assistance.
 

California Infrastructure and Economic Development Bank
In 2002, the Firm served as Bond Counsel to the California Infrastructure and Economic Development Bank for the initial issuance of $300,000,000 Clean Water State Revolving Fund Revenue Bonds, Series 2002 to fund water loans through the State’s clean water program. This was the initial issuance of the State’s leveraging program for its Clean Water State Revolving Fund Program.

Metropolitan Water District of Southern California
In 2003, we served as Bond Counsel and disclosure counsel for Metropolitan’s $123,865,500 Waterworks General Obligation Refunding Bonds, 2003 Series A. The Firm served as Bond Counsel and disclosure counsel in connection with Metropolitan’s $55,185,000 Waterworks General Obligation Refunding Bonds, 2002 Series A. Since 1996, we have served as disclosure counsel and Bond Counsel on many financings for Metropolitan, including its Waterworks General Obligation Refunding Bonds and Water Revenue Bonds. Since 2000, we have served as counsel in connection with Metropolitan's Cash Defeasance Program.

California Statewide Communities Development Authority  
In 2002, we served as Bond Counsel for the Authority’s $77,670,000 Water and Wastewater Revenue Bonds (Pooled Financing Program), Series 2002. In 2000, we served as Bond Counsel for the Authority’s issuance of approximately $35,915,000 Water and Wastewater Revenue Bonds (Pooled Financing Program) in three separate series.

Connecticut
In addition to drafting amendments to the Connecticut’s existing revolving loan fund legislation, we actively and directly structured the revolving loan fund at the state level. Working with State officials, we developed a structure which provides maximum opportunity for municipalities to maintain and rebuild their wastewater treatment facilities on an accelerated basis while providing below market loans (2% per annum) to such municipalities. In addition, we drafted model grant/loan agreements which became the program financing documents.

Wisconsin SRF
The Firm was retained as special tax and program counsel to the State of Wisconsin to assist in the development of a highly leveraged program that met EPA requirements for a leveraged revolving loan program. In that capacity we provided advice on federal tax consequences of program structure and compliance with EPA rules. We further participated in ensuring that appropriate funds and accounts are established, that federal, state and other funds are segregated where appropriate, and that program mechanics and fund flows work. As tax counsel we delivered opinions as to the tax exemption of the State’s first bond issues under the program.