Multi-State Financings

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Kutak Rock has served as bond counsel to several issuers that have been established to issue tax-exempt conduit bonds for public and private entities nationwide. Such multi-state bond authorities have issued bonds on behalf of nonprofit 501(c)(3) organizations (including cultural, educational, health care and housing organizations). Our public finance team is very experienced at handling the legal and logistical issues relating to such multi-state transactions.

Our firm serves as bond counsel to a state educational and cultural facilities authority’s National Jewish Federation Bond Program, which has issued more than $645 million of bonds since its inception in 2003. Forty transactions have been completed in 11 states for 15 Jewish federation communities. The program is available to 157 Jewish federations and 1,500 affiliated agencies across the United States, and proceeds have been utilized to finance libraries, museums, day schools, senior housing, Jewish community centers, Hillels, summer camps and administrative buildings.

We also serve as bond counsel to that state’s educational and cultural facilities authority in connection with its ongoing multi-state financing programs on behalf of noncommercial public broadcasting stations and a nature conservancy. Additionally, we have served as bond counsel to the Public Finance Authority, the Phoenix Industrial Development Authority, the Pima County Industrial Development Authority and the Colorado Health Facilities Authority in connection with their multi-state financings.