Sales Tax Revenue Bonds Provide Critically Needed Transportation Funding Source

April.26.2016

Funding transportation infrastructure in California is becoming increasingly difficult, as diminished gasoline taxes and other state and federal funding sources continue to be insufficient to provide fully for burgeoning capital improvement needs and critical infrastructure gaps resulting from extended deferred maintenance of existing facilities.

Authors

Jenna Magan Partner, Public Finance

Sacramento

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D:+1 916 329 7980
E: [email protected]

Practice:

Finance Sector
Public Finance

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Jenna Magan Partner

Sacramento

Jenna has worked on all structures available in public finance, including fixed and variable, tax-exempt and taxable, insured, letter of credit and liquidity supported bonds, conversions, tenders, exchanges, restructurings and reofferings, senior/subordinate, capital appreciation and convertible capital appreciation bonds, securitizations, project finance, direct purchases, bank-qualified transactions and 144A and Section 4a2 offerings.

Jenna's practice focuses on the following areas, in which she has acted as bond, borrower’s, disclosure, underwriter's, and bank/direct purchaser’s counsel:

Healthcare, Senior Living and Other 501(c)(3) Financings
Local Government Lease, Enterprise (Water, Wastewater, Airport, Solid Waste), Pension Obligation and Short-Term Financings
State of California Bond Financings
Project Financings
Tobacco Securitization Financings
Post-Issuance Compliance

Devin Brennan Partner, Public Finance

San Francisco

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D:+1 415 773 4261
E: [email protected]

Practice:

Finance Sector
Public Finance

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Devin Brennan Partner

San Francisco

Such transactions have involved both long- and short-term, fixed and variable rate obligations, public-private partnerships (P3s), commercial paper, swaps, credit and liquidity enhancement, and revenue bonds for transportation and utility issuers, as well as a number of sizable special purpose financings. Devin has also represented multiple clients in connection with chapter 9 bankruptcies, restructurings and other workouts.

Devin is a partner in Orrick’s San Francisco office and chairs the Firm’s Transportation Finance Group. Devin has served on the Hiring and Summer Program Committees in the San Francisco office, and helps organize the firm's annual summer surf trip to Capitola Beach. Devin is a past Chair of the Bond Buyer's California Public Finance Conference, and is currently a member of the Strategy Council for OneJustice, an organization dedicated to transforming the delivery of legal services to Californians in need.