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Introduction
Travis Gibbs is a partner in the Public Finance group with a practice specialty relating to the tax law requirements attendant to tax-exempt debt. His client base and experience includes the entire spectrum of tax-exempt debt types and structures and related instruments, including revenue bonds, general obligation bonds, certificates of participation, tax and revenue anticipation notes, tax assessment bonds and interest rate swaps and other derivative products.
My focus
I am responsible for the tax law aspects and concerns of each category of client for which we work in the municipal finance arena, including general governments (cities; counties; and school, college and hospital districts), proprietary governmental agencies (maritime ports; airports; and water, electric and sewer utilities), conduit issuers, conduit nonprofit borrowers and underwriters. Within that broad range of activity, my practice has recently involved significant activity in the following areas.
Direct Purchase Bonds
I have been involved as bond counsel or borrower’s counsel in a number of transactions structured as direct purchases by financial institutions. Many of these transactions involve nonprofit borrowers but also include governmental entities.
Infrastructure
Our team and I have recently been involved in a significant number of transactions relating to the financing of general infrastructure, ranging from surface transportation, mass commuting, airport and port, and water and electric utility infrastructure.
Tax Law Compliance
As a result of increased initiatives and audits by the IRS, I have been recently involved with assisting issuers and borrowers with crafting procedures for ensuring compliance and with training. We have also been active in assisting with audits and voluntary compliance agreements where there has been inadvertent noncompliance.
Looking ahead
The need to address our aging infrastructure will result in continued and increased activity in the financing of infrastructure projects, including continued interest in identifying opportunities for joint efforts with the private sector.
In addition, the post issuance compliance focus will continue for some time, both in the context of training and compliance procedure development and in enforcement actions such as audits.
In the news
- The Bond Buyer
Changing circumstances reduced demand for California school note program
This article, on the California School Finance Authority’s borrowing program created to help school districts manage pandemic-driven budget deferrals, mentions NP as disclosure counsel for notes issued in March and April for elementary, high school, and community college districts. Los Angeles partners Rudy Salo and Dan Deaton, and San Francisco partners Travis Gibbs and Graham Beck, all of the Project Finance & Public Finance group, advised CSFA in this deal. Update: New York Bankruptcy & Restructuring partner Robert Christmas also advised CSFA in this deal.April 29, 2021 - The Bond Buyer
Los Angeles makes tender offer ahead of taxable MICLA refunding
This article mentions the firm as bond counsel on the City of Los Angeles’ hybrid tender offer and refunding related to the Municipal Improvement Corporation of Los Angeles lease revenue bonds. The NP team includes Los Angeles partners Jade Turner-Bond and Dan Deaton; San Francisco partner Travis Gibbs; Washington, D.C. associate Joel Swearingen; and Los Angeles associate David Song—all of the Project Finance & Public Finance group.Feb 18, 2021 - The Bond Buyer
With budget in rearview, Cook County turns sights to borrowing plans
This article mentions the firm for serving as bond counsel to Cook County, IL, in its new money and refunding deals totaling about $600 million. The NP team included Chicago partner Julie Seymour, San Francisco partner Travis Gibbs and New York City counsel Abbie Olsen, all in the Project Finance & Public Finance group.Dec 22, 2020 - Bond Buyer
SFO prepares bond refunding as airport rides out pandemic
This article about San Francisco International Airport (SFO) and its preparations for a $291 million bond refunding deal mentions NP as disclosure counsel. San Francisco partner Travis Gibbs and Los Angeles partner Dan Deaton and counsel Heather White, all of the Project Finance and Public Finance Group, advised on this matter.July 30, 2020 - Law360
New remedial actions for tax-advantaged bonds and P3s
Nixon Peabody public finance partners Travis Gibbs of San Francisco and Mitch Rappaport, Bruce Serchuk and Carla Young of Washington DC co-wrote this analysis on the new IRS procedures that can be used “to cure impermissible use of bond-financed projects.”April 20, 2018
Admitted to practice
California
Education
University of Florida, B.A.
University of Texas at Austin, J.D.
Professional activities
- American Bar Association, Section of Taxation, Tax-Exempt Committee (Past Secretary)
- Past Member, Steering Committee for the Bond Attorneys Workshop sponsored by the National Association of Bond Lawyers
- National Association of Bond Lawyers
Recognition
Travis was selected, through a peer-review survey, for inclusion in The Best Lawyers in America® 2023 in the field of Public Finance Law, and was Best Lawyers 2022 “Lawyer of the Year” for Public Finance Law in San Francisco, CA. He has been listed in Best Lawyers since 2020.
Insights And Happenings
View AllProfessionals in the Practice Area
View AllVirginia Wong
Partner / Practice Group Leader, Project Finance and Public Finance- New York
- Office:212.940.3028
- vwong@nixonpeabody.com
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Julie K. Seymour
Partner / Strategic Impact Partner- Chicago
- Office:312.977.4353
- jkseymour@nixonpeabody.com
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Mitchell Rapaport
Partner- Washington DC
- Office:202.585.8305Mobile:202.288.4005
- mrapaport@nixonpeabody.com
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