The Firm's New Jersey public finance practice goes back over 100 years, and includes thousands of financings for New Jersey counties, municipalities, school districts, authorities and other public entities. Hawkins was responsible for drafting much of the enabling legislation for the State’s general obligation bond financings, its Local Bond Law, its local school district financing laws, the Tobacco Settlement Financing Corporation Act (2002), The New Jersey Economic Development Authority Act, the New Jersey Turnpike Authority Act of 1948, the New Jersey Highway Authority Act, the New Jersey Expressway Authority Act, the South Jersey Port Corporation Act, the Sewerage Authorities Law, the Municipal and County Utilities Authorities Law and the Parking Authority Law.

According to Thomson Financial, since 1980 Hawkins Delafield & Wood LLP has served as bond counsel on over 562 New Jersey long-term bond issues (second overall among bond counsel) aggregating in excess of $14 billion in par amount (fifth overall among bond counsel) and as underwriter’s counsel on over 100 New Jersey long-term bond issues (fourth overall among underwriter’s counsel) aggregating in excess of $10 billion in par amount (first overall among underwriter’s counsel). Since 1980, Hawkins ranks fifth among combined bond counsel firms/underwriter’s counsel firms based on dollar amount of New Jersey long-term bonds issued. Hawkins is the only top twenty-five national bond counsel firm with a significant New Jersey practice and office.

The Firm has recently served as Bond Counsel to, or as underwriter’s counsel in connection with several financings for: the State of New Jersey and its agencies and authorities, including, in addition to the State itself, the New Jersey Turnpike Authority, the Tobacco Settlement Financing Corporation, the New Jersey Water Supply Authority, the New Jersey Economic Development Authority, the New Jersey Health Care Facilities Financing Authority, the New Jersey Educational Facilities Financing Authority, Rutgers - The State University of New Jersey, and the New Jersey Housing and Mortgage Finance Agency.

Hawkins currently serves as bond counsel to, and recently has served as underwriter’s counsel in financings for, dozens of New Jersey municipalities, school districts, counties, local and regional sewerage authorities, municipal and county utilities authorities, fire districts, county improvement authorities, redevelopment agencies, sewerage and water commissions, and other public entities. Financings for these entities have included the following: bond anticipation notes; emergency notes; temporary emergency notes; capital notes; utility notes; temporary funding notes; tax anticipation notes; grant anticipation notes; project bonds; general obligation bonds; utility bonds; assessment bonds; open space bonds; fiscal year adjustment bonds; refunding bonds; revenue bonds; capital appreciation bonds; subordinate or junior lien bonds; variable rate bonds; bonds secured by service contracts, deficiency agreements, bond reserve fund deficiency agreements, bond reserve fund surety policies, bond insurance policies and letters of credit; financings utilizing investment agreements, guaranteed investment contracts, bond reserve fund forward agreements, bond service fund “float” agreements and escrow float agreements; current refundings; advance refundings; cross-over refundings; “forward” refundings and delayed deliveries; pension refundings; tax appeal refundings; “pooled” loan programs; and competitive and negotiated sales.

The Firm is thoroughly familiar with the many laws, in addition to the various bonding statutes, directly and indirectly applicable to New Jersey financings including the Open Public Meetings Act, the Local Authorities Fiscal Control Law, the Local Budget Law, the Qualified Bond Acts, the Local Fiscal Affairs Law, the Local Improvements Law, the Land and Buildings Laws and the Public Contracts Laws and regulations promulgated by the Division of Local Government Services.

All partners resident in the Newark office have been admitted to practice law in the State of New Jersey and are members in good standing of the New Jersey bar. These partners include Robert Beinfield, Steven Donovan, Charles Toto and Eric Sapir. In addition, several partners who are resident in other offices are licensed to practice law in New Jersey and are members in good standing of the New Jersey bar. These partners include Patricia Goins, John Pirog and Christopher Waterman.

The following summarizes certain of our recent activities in New Jersey

$1.75 Billion State of New Jersey TRANs
Hawkins served as Bond Counsel to the State of New Jersey in October 2006 in connection with the issuance by the State of its Tax and Revenue Anticipation Notes.  The firm worked closely with the Office of Public Finance, the Attorney General’s Office and the State Treasurer’s Office in drafting all the operative documents including the Note Resolution, the Notice of Sale, the Summary Notice of Sale, the Proposal for Notes and the Agreement with Respect to Continuing Disclosure.  Hawkins attorneys also prepared drafts of commercial paper documents and agreements and was responsible for portions of the Official Statement.

New Jersey Tobacco Securitization Bonds
Hawkins served as Bond Counsel to the State of New Jersey’s Tobacco Settlement Financing Corporation, $3,460,625,000 Tobacco Settlement Asset-Backed Bonds, Series 2002 and 2003, in connection with the Corporation’s sale of bonds to purchase from the State the right to receive certain annual settlement payments from tobacco manufacturers. Hawkins drafted the legislation creating the Corporation and authorizing the issuance of the bonds, rendered opinions with respect to the national Master Settlement Agreement and litigation pending before the New Jersey Supreme Court, and negotiated the various guaranteed investment contracts.

New Jersey Turnpike Authority
Hawkins served as Bond Counsel to the New Jersey Turnpike Authority in 2000 in connection with the issuance by the Authority of refunding, restructuring and new money bonds, the $1,867,375,000 Turnpike Revenue Bonds, Series 2000A-G. The financing involved numerous complex tax, disclosure and document matters including legal issues relating to additional bonds tests, rate coverage requirements, categorization of various classes of debt, flow of funds mechanics, variable rate debt, auction rate debt, SWAP termination payments, statutory Governor approval, repurchase agreements, debt reserve fund forward delivery agreements, debt reserve fund surety bonds, ongoing litigation, redemption, defeasance, current and advance refundings, forward refunding (i.e., delayed delivery), split coupons and various federal tax matters.

State of New Jersey Refunding Bonds
Hawkins served as Bond Counsel to the State of New Jersey in connection with the issuance of refunding bonds in 1999: the State of New Jersey, General Obligation Bonds $349,770,000 Refunding Bonds (Series F) (Tax-Exempt) and $78,620,000 Refunding Bonds (Series G) (Taxable For Federal Income Tax Purposes). The financing involved several significant and complex federal tax law issues associated with the current and advance tax-exempt and taxable refundings, including, among other things, tracing the expenditure of prior bond proceeds for considerations involving private business use, private payments, private loans, unspent proceeds, recycled loan repayments, changes of use and privatizations, volume cap matters, maturity extensions and weighted average maturity rules, transition rules, allocations relating to refundings and taxable/tax-exempt bond structuring matters.

New Jersey Pension Obligation Bonds
Hawkins served as co-counsel to the underwriters for the New Jersey Economic Development Authority $2,803,042,498.56 State Pension Funding Bonds, Series 1997A - (Federally Taxable). These bonds are payable solely from funds received by the Authority from the State pursuant to a “subject to appropriation” contract. This transaction involved numerous novel and complex legal issues relating to, among other things, registration on the New York Stock Exchange, listing on the Luxembourg Stock Exchange, ongoing litigation challenging the constitutionality of the financing, development and disclosure of securities products new to the municipal marketplace (the preliminary official statement offered eight series of bonds, including current interest bonds, zero coupon bonds, zero coupon step up bonds, auction market bonds, income bonds, floating rate bonds, stepped coupon bonds and zero coupon extendable bonds) and federal tax consequences of ownership of the bonds (including ERISA considerations).