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April 16, 2013

This newsletter describes the circumstances under which an issuer of tax-exempt bonds or a conduit borrower benefitting from an issue of tax-exempt bonds can cause a “reissuance” of one or more tax-exempt bonds, and briefly discusses the material consequences of creating a reissuance of tax-exempt bonds. Kutak Rock LLP reminds clients to review transaction documents and consult with counsel prior to making amendments to bond provisions.

Newsletter
April 9, 2013
As noted in our March 28, 2013 Client Alert, on March 15, 2013 the federal Commodity Futures Trading Commission (CFTC) issued an advisory which stated that all swap participants needed to obtain a Legal Entity Identifier number (also known as an LEI or CICI) prior to April 10, 2013. While the language of the CFTC’s advisory was unambiguous, it conflicted with a prior CFTC regulation which provided participants in existing swaps until October 7, 2013 to obtain a CICI (although anyone entering into a new swap on or after April 10 must have a CICI when entering into the new swap). Although some CFTC staff have reportedly orally acknowledged the October 7 date is correct, the CFTC has not yet officially clarified the advisory.
Client Alert
March 28, 2013

As part of the reporting regime under the Dodd-Frank Wall Street Reform and Consumer Protection Act, all parties to swap agreements (Swap Participants), including municipal issuers, need to have Legal Entity Identifier numbers (also known as LEIs or CICIs) that are used when dealers report swaps. Note this requirement even applies with respect to certain swaps that already have been terminated to the extent they were in effect on or after April 25, 2011. Read this client alert for more information about the need to apply for or certify LEIs.

Client Alert
March 22, 2013

On March 21, 2013 Congress passed H.R. 933―also known as the Continuing Resolution. This was the last hurdle necessary before the CDFI Fund could implement the next stages of the Program.

Client Alert
February 4, 2013

On January 31, 2013, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI Fund) released the interim rule for the CDFI Bond Guarantee Program. Under this new program, eligible Community Development Financial Institutions (CDFIs) or their designees will issue bonds that are guaranteed by the Federal government and use the bond proceeds to extend credit to the broader CDFI industry for community development purposes and for long term community investments.

Client Alert
September 17, 2012

OMB Estimates 7.6% Reduction in Federal Subsidy Payments Related to BABs, QZABs, QSCBs and QECBs Upon Failure by Congress to Enact Deficit Reduction Legislation.

Client Alert
July 15, 2009

Fred Marienthal co-authored an article published in The Colorado Lawyer magazine in July 2009.

Article
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