Graham Beck, a partner in Nixon Peabody’s Public Finance group, represents municipal and nonprofit issuers and underwriters of municipal securities in a wide range of tax-exempt and taxable offerings. He advises clients on public offerings and private placements serving as bond, underwriters’ and disclosure counsel.
Much of my work involves assisting municipalities and joint action agencies in their issuance of tax exempt debt to finance the construction and rehabilitation of hydroelectric, biofuel, wind and coal-burning electric generation facilities. I also assist municipalities fulfill their long-term energy needs through prepayment for gas and electric supplies in order to pass those savings along to their ratepayers.
Some of my favorite projects have been working with California school districts to finance the construction and rehabilitation of schools to better meet the needs of their students and the community. I have assisted multiple school districts through the election process to win voter approval for their bond issuance and have experience with a variety of financing options available to California school districts, including Bonds authorized under Proposition 39 and the traditional authority, Mello-Roos financings and Certificates of Participation.
As underwriter’s counsel, I provide national and regional investment banking firms underwriting municipal bonds with strategic advice on compliance with SEC and MSRB rules and regulations, including the disclosure requirements of federal securities laws.
The SEC is demanding compliance with rules governing disclosure and continuing disclosure. Issuers and underwriters thus must develop and consistently implement and update disclosure and compliance policies. It will be crucial for counsel to advise and provide support in these areas for each transaction as well as ongoing support between financings.