Areas Of Concentration
- Debt Obligations
- Cities and Villages
- Fire Protection Districts
- Forest Preserve and Conservation Districts
- Municipal Building Authorities and Public Building Commissions
- Park Districts
- Sanitary Districts
- School Districts
- State Universities
- States, State Agencies and Authorities
- Water, Sewer and Other Districts and Agencies
- Practice Areas
- 501(c)(3) Not-For-Profit Finance
- Airport Finance
- Economic Development and Redevelopment
- Health Care
- Higher Education
- Housing - Multifamily
- Housing - Public
- Housing - Single Family
- Industrial Development Revenue Bonds - Manufacturing Facilities
- Investor-Owned Utility Tax-Exempt Finance
- Pay for Success / Social Impact Bonds
- Primary and Secondary Education
- Reinvestment Products
- Solid Waste, Sewage and other Environmental Disposal
- Sports Facilities
- State and Local Government Obligations Private Placement Group
- Student Loan Revenue Bonds
- Public-Private Partnerships
- Representational Roles
- Daniel Bacastow
- Andrea Bacon
- Erin Bartholomy
- John Bibby
- Ryan Bjerke
- Ryan Bowen
- Sarah Breitmeyer
- Nancy Burke
- James Burr
- Robert Capizzi
- Paul Carman
- David Cholst
- William Corbin, Jr.
- Leslie Cornell
- Richard Cosgrove
- Amy Cobb Curran
- Walter Draney
- Brent Feller
- Kent Floros
- Todd Freier
- Katherine Gale
- Lynda Given
- Cedric Gordon
- Kyle Harding
- Caitlin Harrington
- James Heiser
- Juliet Huang
- Eric Hunter
- Christi Jacobsen
- David Kates
- Julie Kelly
- Jennifer Koltse
- Kelly Kost
- Jennifer Krah
- Colleen Kushner
- Darrell Larsen, Jr.
- Sharone Levy
- Seema Masterson
- Michael Mitchell
- Jane Nagle
- Latrice Phillips
- Kevin Reckamp
- Anthony Rosso
- Megan Rudd
- Carol Thompson
- Richard Tomei
- Anjali Vij
- Christopher Walrath
- Kristin Walsh
- Lawrence White
- J. Travis Wimsett
Since its founding, Chapman and Cutler LLP has been one of the country's preeminent law firms in state and municipal finance. Dozens of lawyers comprise the firm's Public Finance Group, primarily serving as bond counsel or underwriter's counsel on public finance transactions throughout the United States.
Attorneys in the Group work as a team with colleagues in the firm's banking, tax, securities and bankruptcy and workout areas. Firm attorneys from other disciplines join the team whenever a significant public finance transaction warrants their involvement.
The firm's public finance clients include state governments, state agencies and authorities, counties, cities, villages, towns, school districts and other special purpose districts and municipal non-profit corporations and authorities located across the country. In addition, attorneys in the Public Finance Group frequently serve as counsel to the leading national and regional investment banking firms in the underwriting or remarketing of state and local government obligations.
The experience and ability of the firm's attorneys who devote their practice to municipal finance is widely recognized. Attorneys in the Public Finance Group frequently draft, review and lobby for new legislation that enhances the debt-issuing capabilities of the firm's clients. The Group's broad national presence and experience enable it to deal easily with complex transactions and to develop innovative financing structures.
Public Finance Updates
- Client AlertSeptember 2, 2016
On August 22, the Internal Revenue Service released new safe harbor guidelines for determining whether a management contract results in private business use of property for purposes of the federal income tax rules relating to tax-exempt bonds.
- Client AlertAugust 26, 2016
On August 24, 2016, the Securities and Exchange Commission issued cease-and-desist orders to 71 municipal issuers and obligated persons in response to voluntary self-reporting of potential misrepresentations in municipal bond offering documents regarding compliance with prior disclosure obligations under the SEC’s Municipalities Continuing Disclosure Cooperation initiative.
- Client AlertJuly 20, 2016
On July 18, the U.S. Treasury and the Internal Revenue Service published final arbitrage regulations that contain revisions to the tax-exempt bond regulations relating to, among other things, working capital financings.
- Client AlertClient AlertApril 4, 2016
The Internal Revenue Service recently released proposed regulations concerning the definition of a “political subdivision” for purposes of tax-exempt financing.
- ArticleRecent IRS Regulations Involving Mixed-Use Projects Financed With Tax-Exempt Bonds Very Beneﬁcial to 501(c)(3) Health Care OrganizationsBloomberg BNA's Health Law ReporterMarch 24, 2016
On Oct. 27, 2015, the United States Treasury Department and the Internal Revenue Service published long-awaited final regulations that provide welcome guidance to 501(c)(3) health care organizations that are borrowers of qualified 501(c)(3) bonds.
- Client AlertClient AlertMarch 23, 2016
On March 9, 2016, the U.S. Securities and Exchange Commission issued a cease and desist order against Westlands Water District, a public agency of the State of California, the District General Manager and General Counsel, and the former District Assistant General Manager.
- Client AlertClient AlertFebruary 12, 2016
On February 10, 2016, the Government Finance Officers Association alerted its members that the Enforcement Division of the Securities and Exchange Commission has begun contacting issuers in connection with its Municipalities Continuing Disclosure Cooperation initiative.
- Client AlertClient AlertFebruary 3, 2016
On February 2, 2016, in the third round of settlements with underwriters under its Municipalities Continuing Disclosure Cooperation initiative, the Securities and Exchange Commission issued cease-and-desist orders to 14 underwriting firms.
- Client AlertClient AlertNovember 20, 2015
Today, the Illinois State Board of Education approved allocation guidelines and an application process for Qualified School Construction Bonds. Pursuant to such guidelines and process, ISBE expects to allocate $495,602,000 in volume limitation for QSCBs to school districts.
- Client AlertClient AlertOctober 30, 2015
On October 26, 2015, the Department of the Treasury released Final Regulations on allocation and accounting, and certain remedial actions, for purposes of the private activity bond restrictions that apply to tax-exempt bonds.
- Client AlertClient AlertOctober 19, 2015
On October 1, 2015, the Tax Exempt and Governmental Entities Division of the Internal Revenue Service released its Tax Exempt and Governmental Priorities for Fiscal Year 2016.
- Client AlertFINRA Revises Proposed Trade Confirmation Disclosure of Pricing Information in Retail Bond TransactionsClient AlertOctober 16, 2015
The Financial Industry Regulatory Authority is requesting comment on a revised proposal to amend FINRA Rule 2232 governing trade confirmation disclosures. The amendments would require member firms to disclose a “reference price” on customer confirmations for principal transactions in corporate and agency debt securities with retail customers.
- Client AlertClient AlertOctober 15, 2015
The Securities and Exchange Commission recently approved a proposed rule change by the Financial Industry Regulatory Authority, Inc. that would amend FINRA Rule 2210 to require each of a member’s websites to include a readily apparent reference and hyperlink to BrokerCheck.
- Client AlertClient AlertOctober 5, 2015
On September 30, 2015, in the second round of settlements with underwriters under its Municipalities Continuing Disclosure Cooperation initiative, the Securities and Exchange Commission issued cease-and-desist orders to 22 underwriting firms.