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|
|Distinction||Major Southern California Cultural Institution Capital Program|
|Issuer||California Infrastructure And Economic Development Bank|
|Issue Size||$1.1 Billion|
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