Heather White focuses on public finance and project finance. She represents issuers, underwriters, and borrowers in a wide variety of public finance transactions and has been involved in financings for cities, counties, school districts, airport authorities, transportation authorities, and 501(c)3 organizations. She also has been involved in project financings with a tax-exempt bond component.
I have served as bond counsel, disclosure counsel and underwriter’s counsel, on transactions for a broad range of issuers and borrowers, including cities, counties, school districts, airport authorities, port authorities, transportation authorities, privately and publicly held for-profit entities, and 501(c)3 nonprofits. I have been involved with many infrastructure projects and have drafted documentation and offering documents for complex transactions and credits. Representative clients include the Airport Commission of the City and County of San Francisco, the Los Angeles County Metropolitan Transportation Authority, Western University of Health Sciences, the State of California, and a number of underwriting firms. I also taught legal writing at the University of Hawaii, William S. Richardson School of Law, in 2011.
In October 2021, I received my Ph.D. from the University of Western Australia, where I authored a thesis entitled “Promoting Prudence: Alternatives for Improving U.S. Local Government Borrowing Practices and Securities Law Compliance.” The thesis examines how best to provide local governments with the flexibility to borrow while protecting current and future residents, considering a variety of approaches to state laws governing this borrowing and analyzing an example of a particular borrowing method, capital appreciation bonds. The thesis then suggests ways that the Securities and Exchange Commission (SEC), states, and others can help improve state and local government practices that the SEC has identified as leading to inadequate disclosure to investors. Portions of the thesis have been published as articles.
Issuers, borrowers and underwriters will continue to need sound legal counsel to explore creative new financing options and to navigate increasing scrutiny and regulation of the municipal securities industry by the the Securities and Exchange Commission (SEC) and the Internal Revenue Service (IRS).
Harvard University, J.D., cum laude
University of California, Los Angeles, B.A., summa cum laude (Phi Beta Kappa)
University of Western Australia, Ph.D.
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