General Obligation Bonds

Orrick’s General Obligation Bond Financing Group offers unparalleled expertise to states and municipalities issuing general obligation bonds. Since 1985, our attorneys have worked on more than 3,239 general obligation issues totaling more than $240 billion (ranging from $35,000 to $7.9 billion per issue). Our clients have been cities, counties, states, school districts, community college districts, and other special districts and public works departments (among others) in California, Florida, Hawaii, Illinois, Mississippi, Nevada, New York, New Jersey, Vermont, Washington, D.C. and Guam. Representative projects funded by these general obligation bonds include:

• school facilities
• parks and recreation district improvements
• water conservation and water quality
• prison construction and expansion
• airport expansion projects
• parking facilities
• water system and sewer system improvements
• retirement funds
• library improvements
• acquisition of land to preserve open space
• flood control projects
• bond banks
• convention centers
• resource recovery facilities
• pooled insurance programs
• unfunded pension obligations
• student loans
• university and college facilities
• passenger rail facilities

Because general obligation bonds in California require voter approval, each year Orrick prepares election timetables for California cities, counties and school districts. These have become a resource widely relied upon throughout the State. Orrick's General Obligation Bond Group advises clients about both election procedures and bond procedures

Representative clients include:

• State of California
• State of New York
• State of Vermont and Vermont Municipal Bond Bank
• State of Hawaii
• Board of Education of Manchester Township (NJ)
• City and County of San Francisco (CA)
• City of Menlo Park (CA)
• City of Phoenix (AZ)
• Lassen County (CA)
• Maui and Kauai Counties (Hawaii)
• Mojave Water Agency (CA)
• Placer County
• Port Authority of New York and New Jersey
• The First Boston Corporation (DuPage Airport Authority, IL, DuPage and Kane Counties, IL)
• Government of Guam
• approximately half of the school districts within the State of California that have issued general obligation bonds, including Beverly Hills Unified School District, Palo Alto Unified School District, San Diego Unified School District, San Francisco Unified School District and Los Angeles Unified School District