Dia K. Walrath

My focus

My practice primarily assists states, cities, counties, school districts, airport authorities, transportation authorities, and 501(c)(3) nonprofits to achieve their refunding and capital improvement financing needs. I serve issuers and borrowers by drafting legal documents for general obligation bonds, certificates of participation, commercial paper, Mello-Roos financings, lease revenue bonds, and other various types of debt financing documents. I also advise clients in securities law disclosure compliance. Once our work is complete and projects are underway, I am energized by the direct positive impacts I see in my community.

Education

I support school and community college districts with their capital needs to construct, maintain, and improve school facilities for the benefit of students.

I regularly assist districts in managing their bond programs, including providing guidance on the election process under Proposition 39 or 46 and the related restrictions, compliance with continuing disclosure obligations, the administration of Citizen’s Oversight Committees, compliance with the Brown Act, and other statutory and regulatory requirements that impact their debt issuances.

Innovative financings

I enjoy working on innovative offerings in public and project finance. This includes serving as counsel to an investment bank on the financing of a project that repurposed rice straw to produce medium density fiberboard for manufacturing. I also served as disclosure counsel on a unique bond program utilizing a tax credit to address homelessness and mental illness in California. I assist private and public sector parties in financing, operating, and maintaining infrastructure projects, particularly in the transportation sector.

Looking ahead

As market volatility continues to challenge the municipal market, an issuer’s financial condition and projections will face hurdles in maintaining accuracy and may be under increased scrutiny. I look forward to working closely with my clients in evaluating alternative financing and borrowing mechanisms to achieve their goals and crafting clear, accurate disclosures to keep investors properly informed.

Insights

• “K-12 Education: Addressing the Challenges,” The Bond Buyer California Public Finance Conference, October 19, 2023
• “Finding a balance: Ethics around social media for attorneys,” Nixon Peabody Annual MCLE Seminar, San Francisco, January 2018