Practice includes Municipal Finance, Privatization and Securitization
Representative Experience
Privatization Counsel to Virginia's Department of Transportation under the Public-Private Transportation Act of 1995 in connection with public-private partnerships, involving (a) the issuance of (i) $589 million bonds to finance I-495 Capital Beltway Hot Lanes, one of the first transportation private activity bonds, (ii) $350 million bonds to finance Pocahontas Parkway/Route 895, one of the first "63-20" transportation financings, (iii) $21 million to finance Chesapeake Expressway/Route 168, and (iv) over $150 million bonds to finance improvements to Route 28; and (b) negotiating (i) the initial and Amended and Restated Comprehensive Agreements for the approximately $1.9 billion Route I-495 HOT Lanes project to expand the Washington D.C. Capital Beltway, (ii) the Interim Agreement for the anticipated over $1 billion I-95/395 HOT Lanes project, (iii) the $236 million Comprehensive Agreement for Route 288, and (iv) the Comprehensive Agreement relating to a portion of approximately $200 million Route 28 Corridor Improvements. Counsel to eligible lender trustees and indenture trustees for the securitization of student loans through the issuance of over $15.2 billion of asset-backed securities. Counsel to indenture trustees in connection with issuance of over $8 billion revenue bonds to finance Federal Family Education Loan Program student loans. Special Counsel to the Virginia Education Loan Authority in connection with its privatization, including sale of its student loan portfolio, defeasance of over $400 million student loan revenue bonds, and transfer of its operations to the private sector. Bond Counsel to the Commonwealth Transportation Board for over $2.3 billion bonds to finance Virginia's transportation needs, including bonds for Route 28, Route 58 and the Northern Virginia Transportation District projects, as well as GARVEE bonds to anticipate future federal highway reimbursements. Underwriters' Counsel on the Virginia Public Building Authority's initial issuance of variable rate bonds in 2005, and previously bond counsel to the Virginia Public Building Authority for over $900 million bonds to finance buildings for state agencies across Virginia, as well as $75 million tax-exempt commercial paper for such purposes. Underwriters' Counsel for the issuance of over $1.5 billion new money and refunding bonds securitized by payments to Virginia under the national tobacco Master Settlement Agreement. Underwriters' Counsel for the issuance of over $1.8 billion bonds, notes and commercial paper by the Georgia State Road and Tollway Authority, including GARVEE bonds. Bond Counsel to the Virginia College Building Authority for over $1.9 billion fixed and variable rate bonds for its 21st Century Program and for its Pooled Bond Program, each of which finance capital improvements for Virginia's public colleges and universities, and previously underwriters' counsel for the initial issuances of bonds under its 21st Century Program and its Pooled Bond Program. Bond or Underwriters' Counsel on tax-exempt bond financings for 12 private and public colleges and universities in Virginia.
Presentations and Speaking Engagements
Chair, NABL Bond Attorneys Workshop, 2006; Vice-Chair, 2004-05; Steering Committee, 2001. Chair, NABL Fundamentals of Municipal Bond Law, 2003; Vice-Chair, 2002; Faculty, 1999-2001. Faculty, Henrico County Bond School, 2000 and 2001 Speaker, Public-Private Partnership for Transportation Infrastructure Assets in North America, Understanding tax, legal, regulatory and political issues necessary in completing a PPP transaction, March 2008 Other Distinctions Recognized in Best Lawyers in America in Public Finance Law (2006-2010) Recognized as a Virginia Super Lawyer in Securities & Corporate Finance Law (2006, 2007) Martindale-Hubbell "AV" peer review rating
Memberships
ˇ Virginia State Bar
ˇ Virginia Bar Association
ˇ Richmond Bar Association
ˇ Local Government Attorneys of Virginia
ˇ National Association of Bond Lawyers (NABL), Board Member 2005-06 and 2007-10; Education Committee Chair 2006-07 .