Stephen has served as bond counsel for cities, counties, school districts, Indian tribes and special authorities in several states for more than 30 years in connection with various tax-exempt financings. 
He has represented underwriters in connection with governmental and private activity tax-exempt financings and provides backup advice for providers of arbitrage rebate calculations.

In his capacity as a public finance lawyer, Stephen helps formulate plans and negotiate agreements for many joint public-private development projects, including 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, Eagan and out-state communities such as Freeborn County, Beltrami County, Gaylord and Pelican Rapids. They have 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, Stephen 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.