"The firm has a well-regarded public finance group and 'few can
match Blank Rome for its level of service, knowledge [and] advice.' "

—Chambers USA

Public finance focuses on the financing of the capital needs of state and local governments and their agencies, including transportation, housing, utilities, healthcare facilities, educational facilities, cultural facilities, sports and recreation facilities, and other public facilities.  Public finance lawyers determine the best and most cost-effective way to finance these capital needs, and thereby to help our communities grow and thrive.

Blank Rome and its attorneys have long been recognized as leaders in public finance.  The Firm has been listed in The Bond Buyer's Municipal Marketplace (the “Red Book”) of qualified bond counsel for more than 35 years, and is regularly ranked among the national bond-counsel firms for both long-term and short-term tax-exempt debt issues.

Blank Rome serves as bond counsel, underwriter’s counsel, credit-enhancement provider’s counsel, derivative provider’s counsel, trustee’s counsel, issuer’s counsel, or counsel to underlying obligors for a wide range of public sector and public/private projects.  Our clients include:

• state and local governments
• school districts
• governmental agencies and authorities
• cultural institutions
• educational institutions
• financial institutions
• healthcare organizations and other nonprofit organizations
• for-profit corporations
• recreational facilities
• sports teams
• utilities

Blank Rome’s public finance attorneys have particular experience in drafting legislation to enable public finance transactions to be undertaken, analyzing federal and state income tax issues, providing advice with regard to IRS and SEC enforcement and compliance, and drafting complex documents governing debt issues.  Our public finance attorneys are recognized for structuring complex and innovative financing transactions, including public/private partnerships, and for their ability to develop novel and tailored solutions to clients’ problems.

Blank Rome’s public finance attorneys counsel clients in all matters relating to public finance law, including:

• general government
• healthcare and education
• housing
• arts and recreation
• transportation
• utilities (waste treatment and disposal, water, gas)
• credit enhancement
• derivative products
• government leasing
• public/private partnerships
• general obligation and special revenue bonds
• securitization
• refinancings
• workouts and bankruptcies
• federal and state income tax
• IRS letter ruling practice
• IRS and SEC enforcement and compliance

Select Engagements

Education

• School District of Philadelphia—General Obligation Refunding Bonds Consisting of $198,140,000 General Obligation Refunding Bonds, Series A of 2005, and $43,415,000 General Obligation Refunding Bonds, Series B of 2005

Pension Funding

• Philadelphia Authority for Industrial Development—$1,291,913,112.35 Pension Refunding Bonds (City of Philadelphia Retirement System) Series 1999A–1999C

Transportation

• Southeastern Pennsylvania Transportation Authority—$187,190,000 Special Revenue Bonds, Series A of 1999, and $74,810,000 Special Revenue Refunding Bonds, Series B of 1999

Senior Housing and Healthcare

• Montgomery County Industrial Development Authority—Revenue Bonds (Philadelphia Presbytery Homes, Inc. Project) Series 2005 Consisting of $35,000,000 Revenue Bonds, Series 2005A, and $20,500,000 Revenue Bonds, Series 2005B
• Montgomery County Industrial Development Authority—Fixed Rate Mortgage Revenue Bonds (Whitemarsh Continuing Care Retirement Community Project), Series 2005
• New Jersey Economic Development Authority—First Mortgage Revenue Bonds (Lions Gate Project), Series 2005 Consisting of $45,430,000 Fixed Rate First Mortgage Revenue Bonds (Lions Gate Project), Series 2005A; $10,000,000 Adjustable Rate First Mortgage Revenue Bonds (Lions Gate Project), Series 2005B; and $27,500,000 Variable Rate First Mortgage Revenue Bonds (Lions Gate Project), Series 2005C

Housing

• New Jersey Housing and Mortgage Finance Agency—Multi-Family Revenue Bonds Consisting of $25,840,000 2005 Series F, Variable Rate (AMT) and $13,620,000 2005 Series B, Variable Rate (Federally Taxable)
• New Jersey Housing and Mortgage Finance Agency—Single Family Housing Revenue Bonds Consisting of $13,405,000 2005 Series L, Fixed Rate (Non-AMT); $18,595,000 2005 Series M, Fixed Rate (AMT); $38,050,000 2005 Series N, Variable Rate (Non-AMT); and $79,950,000 2005 Series O, Variable Rate (AMT)

Utilities

• Philadelphia Gas Works—City of Philadelphia, Pennsylvania, $313,390,000, Gas Works Revenue Bonds, Sixth Series (1998 General Ordinance)

Experienced Lawyers, Recognized in Their Fields

Blank Rome’s public finance attorneys are frequently recognized for their skill and experience.  Chambers USA cites Joan N. Stern, senior partner of the public finance practice, as "a guru for financing" and "a bond lawyer with a national reputation."  Many of our attorneys also offer experience beyond their work at Blank Rome.  Marc Stein, chair of Blank Rome's public finance practice, is a past president of the Pennsylvania Association of Bond Lawyers.  Blank Rome public finance lawyers have held many leadership positions in and are active members of the Pennsylvania Association of Bond Lawyers and the National Association of Bond Lawyers.