Joe Saverino is an associate in Chapman’s Illinois Public Finance Department as well as an active member in the firm’s public-private partnership (P3) practice. He participated in the firm’s summer associate program in 2011 and joined the firm in 2012.

Public Finance

As a member of the Illinois Public Finance Department, Joe has worked on various municipal financings for school districts, park districts, cities, villages, counties, special service areas, and townships in the roles of bond counsel, disclosure counsel, and underwriter’s counsel. Joe routinely manages due diligence calls with issuers prior to public offerings of municipal obligations and advises issuers, commercial banks, investment banks, and municipal advisors on state law and federal tax law matters related to the structure and sale of governmental obligations.

Recently, Joe has served as disclosure counsel on State of Illinois financings, including the $750 million General Obligation Bonds, Series of November 2019 transaction as well as on the $450 million Illinois Finance Authority State of Illinois Clean Water Initiative Revolving Fund Revenue Bond Series 2019 (Green Bonds) financing. In addition, Joe served as disclosure counsel for the $64 million City of Owensboro, Kentucky Electric Light and Power System Refunding Revenue Bonds, 2019 Series.

As a member of the Illinois Public Finance Department, Joe has participated in various panels regarding municipal law topics and has presented best practices compliance presentations to certain clients.

Public-Private Partnerships (P3s)

As a member of the firm’s P3 practice, Joe has served and continues to serve as underwriter’s counsel on P3 financings across the country, including in states such as Virginia, New York and Nebraska. In 2019, Joe served as underwriter’s counsel for The Bond Buyer’s Inaugural P3 Deal of the Year. The financing involved the Commonwealth of Virginia partnering with Transurban, an Australian toll road operations company, to finance the construction of the Fredericksburg Extension, an extension of the I-95 HOV/HOT Lanes (Express Lanes) in Stafford County, Virginia. The project was financed in part by $262 million of tax-exempt private activity bonds issued by the Virginia Small Business Financing Authority.

In 2020, Joe has continued to serve as underwriter’s counsel on ongoing P3 financings and projects involving Terminal 4 at JFK Airport in New York and the Lincoln South Beltway in Nebraska. As underwriter’s counsel for both transactions, Joe has served as the lead draftsman of the respective offering documents. The Lincoln South Beltway P3 financing structure is the first-of-its-kind in the United States and consists of a publicly offered tax-exempt bond financing, with such bonds being repaid, in part, through payments by the Nebraska Department of Transportation on deferred contract payment certificates. Such payments by the Nebraska Department of Transportation being subject to appropriation by the Nebraska State Legislature. Both transactions described above are expected to close in March or April of 2020.

Publications

Author, "Ten Things Administrators Should Know about School Bonds," Illinois Association of School Administrators' Leadership Matters, October 2020

Education

University of Illinois College of Law, J.D., magna cum laude, 2012

  • Member, Journal of Law, Technology & Policy

Marquette University, B.S., Accounting and Finance, summa cum laude, 2009

Admitted

Illinois

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