2009 Northeast Regional Winners for Bond Buyer Deals
Hawkins acted as counsel for the Bond Buyer’s 2009 Northeast Regional award recipients
Hawkins acted as counsel to the two winners of The Bond Buyer’s 2009 Regional Deal of the Year awards. In the first transaction, Hawkins was instrumental in developing the financing structure for the District of Columbia's $801 million income tax secured revenue bonds as Disclosure Counsel. Hawkins assisted the District over a two-year period in structuring the program, meeting with the rating agencies and drafting the authorizing legislation. The resulting structure, which gives the bondholders a first lien on and pledge of personal income taxes and business franchise taxes superior to that of the District's general obligation bondholders and any other claimant, yielded significantly higher ratings for these bonds than the rating assigned to the District's general obligation bonds. The Partners on this transaction were Mr. McNally and Mr. Sigal.
In the second transaction, Hawkins was also recognized for its role as Bond Counsel to the Finance Authority of Maine. The $14.5 million taxable waste motor-oil revenue bonds issue will help finance important environmental clean-up at various Maine waste-oil disposal sites. Premiums set by the state legislature and imposed on certain motor vehicle oil sales fund the cost of debt service on the bonds. The Partners that counseled on this transaction included Mr. Roberts and Mr. Turner.
Also of Interest
- Annual Qualified Mortgage Information
This edition of the Hawkins Advisory deals with qualified mortgage bond information report and the qualified veterans’ mortgage bond information report.
- Municipal Market Regulatory Update
This Hawkins Advisory describes the proposed amendments to Rule 15c2-12 and provides a summary and analysis of SEC municipal enforcement actions over the last year.
- Hawkins Assists City and County of San Francisco with Financing of 55-Story Residential Building
In December 2016, Hawkins served as disclosure counsel to the City and County of San Francisco in connection with its issuance of $240 million Variable Rate Multifamily Housing Revenue Bonds (Transbay Block 8 Tower) issued on behalf of an affiliate of the developer, Related Companies. The bonds will finance a portion of the cost of a new $600 million 55-story tower and surrounding buildings in downtown San Francisco.
- MCDC Settlements with Issuers
Today, the Securities and Exchange Commission (“SEC”) entered into cease‐and‐desist settlement orders with 71 municipal issuers and obligated persons, across 45 states, that had self‐reported pursuant to the SEC’s Division of Enforcement’s Municipalities Continuing Disclosure Cooperation (“MCDC”) Initiative.