The Bond Buyer
This article, about the establishment of a public-private partnership to control the water and sewer utilities in Rialto, CA, quotes public finance partner Roger Davis, counsel to Rialto Water Services LLC.
Public-private partnerships - joint funding efforts between governments and private business - are rare in comparison to other forms of public infrastructure financings in the United States, and P3s for municipal utilities even more so.
"This kind of asset has really not appeared before, or so in very limited ways, as an asset in a P3 transaction, so that is quite interesting and novel," said Davis.
Davis also said the legal side of forming the new type of P3 was challenging and unearthed dozens of financial and legal issues.