Photo/rendering of Los Angeles County Museum of Art

Los Angeles County Museum of Art

Hawkins, serving as long-time bond counsel in connection with tax-exempt financings for the Los Angeles County Museum of Art, has assisted LACMA in a wide range of transactions in support of its capital program.  These have included a $200 million bond issue that funded a new exhibition building, a renovation of the LACMA West building and park improvements, as well as a $343 million refunding issue that included a direct purchase of three series of bonds. Other transactions on which the firm served as bond counsel for LACMA include a $118 million issue of variable rate securities and a $57 million issue of variable rate demand obligations issued to finance the Broad Contemporary Art Museum, a grand entranceway to the LACMA complex and a parking garage, and the establishment of a new interest rate and interest period for three series of $265 million direct placement bonds. 

In early 2021, Hawkins served as bond counsel for $300 million refunding of LACMA’s debt which involved an innovative structure of fixed rate “put” bonds in one series and index mode bonds in the other series.

Client California Infrastructure and Economic Development Bank
Role Bond Counsel
Distinction Major Southern California Cultural Institution Capital Program
Issuer California Infrastructure And Economic Development Bank
Issue Size $1.1 Billion

Other Projects in Cultural Institutions and Foundations Industry