Stephen C. Rosholt

(612) 334-5000
Of Counsel
(612) 334-5050 Fax
Stephen.Rosholt@KutakRock.com

Mr. Rosholt is of counsel in the firm's Minneapolis office. He has served as bond counsel for cities, counties, school districts, Indian tribes and special authorities in several states for over 30 years in connection with various tax-exempt financings.

He also has represented underwriters in connection with governmental and private activity tax-exempt financings and provides backup advice for providers of arbitrage rebate calculations.

Bond issues for which Mr. Rosholt served as bond counsel include the following:

  • $200 million City of Minneapolis Convention Center Sales Tax Revenue Bonds and subsequent refunding bonds issued to finance a new convention center in Minneapolis.
  • $270 million Metropolitan Airports Commission General Obligation Revenue Bonds issued in connection with a purchase and lease back transaction with Northwest Airlines.
  • $83,795,000 Hennepin County General Obligation Solid Waste Bonds.
  • $115,000,000 Minnesota Municipal Power Agency Electric Revenue Bonds.

Mr. Rosholt has developed a number of unique financing mechanisms for local government units. These include:

  • The State Revolving Fund Program of the North Dakota Public Finance Authority which is a revolving fund for local wastewater treatment and drinking water facilities utilizing grants from the U.S. Environmental Protection Agency.
  • Minnesota School Districts Cash Flow Borrowing Program sponsored by the Minnesota School Boards Association, which is a pooling arrangement for tax and aid anticipation certificates .

In his capacity as a public finance lawyer, Mr. Rosholt has helped formulate plans and negotiate agreements for many joint public-private development projects. These activities have included development of a biomass generating facility, preparation of tax increment financing plans and negotiation of development agreements for metropolitan area communities such as Maple Grove and Eagan and outstate communities such as Freeborn County, Beltrami County, Gaylord and Pelican Rapids. They have also included negotiation of leases and service agreements for such public facilities as sewage treatment facilities.

As Legislative Vice President of the Minnesota Institute of Public Finance for many years, Mr. Rosholt helped shape legislation affecting Minnesota's available development tools. He also prepared the legislation for the Hennepin County financing of a new ballpark for the Minnesota Twins with sales tax revenue bonds.