Energy
Turner Law, P.C. attorneys have experience acting as bond and underwriters counsel in issuances to finance municipal energy projects.
Qualified Energy Conservation Bonds
As counsel we have analyzed the eligibility of projects to be financed with qualified conservation bonds ”QECBs” and have prepared authorizing legislation, trust indentures and loan documentation in addition to certificates and opinions necessary to issue QECBs. We have prepared disclosure documents for QECBs and assisted in finding volume cap for use with QECB issuances.
Transactions for which Turner Law attorneys have acted as counsel include:
Co-Underwriters’ Counsel in connection with the issuance by the Philadelphia Municipal Authority of its $12,605,000 City Agreement Revenue Bonds (Government Building Energy Conservation Project) Series 2012, consisting of $6,355,000 Tax-Exempt Bonds, Series 2012A and $6,250,000 Federally Taxable Qualified Energy Conservation Bonds, Series 2012B (Direct Subsidy).
Bond Counsel in connection with the issuance of $685,000 Qualified Energy Conservation Notes (Limited Tax General Obligation) Series 2012.
Public Utility
Our attorneys have acted as counsel in financings for public utility and energy, including acting as bond or underwriters’ counsel for bond issuances on behalf of the Philadelphia Gas Works and the Philadelphia Water Department. The Philadelphia Gas Works is provider or heating gas to residents of Philadelphia, Pennsylvania and the surrounding area. The Philadelphia Water Department is the provider of water and sewer services to the City of Philadelphia, Pennsylvania and parts of its surrounding counties. We have experienced acting as counsel in restructurings or prior debt as well as in the issuance of new money bonds secured by certain revenues from PGW and PWD customers.
Representative experience includes:
Co-Remarketing Agent’s Counsel in connection with the remarketing by the City of Philadelphia, Pennsylvania of its $123,170,000 Water and Wastewater Revenue Bonds, Series 2014A.
Co-Underwriters’ Counsel in connection with the issuance and sale by the City of Philadelphia, Pennsylvania of its $88,855,000 Gas Works Revenue Bonds, consisting of its $16,245,000 Gas Works Revenue Refunding Bonds, Twentieth Series (1975 General Ordinance) and its $72,610,000 Gas Works Revenue Refunding Bonds, Tenth Series (1998 General Ordinance).
Underwriter’s Counsel in connection with the issuance and sale by the Northeast Ohio Regional Sewer District of its $68,280,000 Wastewater Improvement Revenue Refunding Bonds, Series 2005.
Green Infrastructure to Mitigate Combined Sewer Over Flow
Many municipalities have struggled with the costs of complying with combined sewer overflow court orders and have weighed the cost of financing grey, green or integrated programs. Turner Law, P.C. attorneys have worked with issuers to bond finance integrated programs and have worked to prepare disclosures about “green infrastructure” projects being financed as a part of combined sewer overflow compliance. Our experience includes acting as underwriter’s counsel in connection with the issuance and sale by the City of Philadelphia of its $170,000,000 Water and Wastewater Revenue Bonds, Series 2012A.
Turner Law, P.C.: Energy Finance Legal Counsel
The factors involved in financing and providing disclosure for municipal utilities have grown in complexity over the years and a skilled attorney is essential to any project’s success.
Turner Law, P.C. brings over 14 years of experience as counsel to public finance, and can advise you on how to navigate the legal and financial requirements for housing bond issuances. Please contact us for a consultation at your convenience so that we can begin to work on funding your project.