Frank D'Ercole has more than 35 years of experience representing issuers of tax-exempt and taxable bonds as bond counsel and representing underwriters, lenders, borrowers, and trustees in a variety of debt transactions. As bond counsel, he has represented many of the largest issuers in Massachusetts, Connecticut, and New Hampshire. Mr. D'Ercole has also served as bond counsel to the State of Connecticut since the early 1970s and has been involved in the creation of many of the state's major bond programs. He has drafted much of the state's legislation governing the authorization and issuance of municipal and state borrowings. He is especially knowledgeable in the area of transportation infrastructure programs. He was instrumental in the development, drafting, and implementation of legislation to create an enterprise fund at Bradley International Airport providing for revenue bonds to fund major airport improvements and for legislation to establish the state's highly innovative Special Tax Obligation Bond program for transportation infrastructure purposes. Mr. D'Ercole has had primary responsibility for the firm's service as borrower's counsel and bond counsel to the Mashantucket Pequot Tribe in connection with the tribe's issuance of over $1 billion of tax-exempt and taxable indebtedness in a series of unprecedented financing transactions during the 1990s, which were the first borrowings of their kind by a Native American tribe. The tribe was the first Native American tribe to obtain an investment grade rating from the major rating agencies on its obligations. He has had primary responsibility for the firm's service, as underwriters' counsel, to syndicates led by Bear Stearns & Co. Inc., UBS PaineWebber Inc., and Goldman Sachs & Co., respectively, in a series of transactions for both the Massachusetts Port Authority and the Massachusetts Water Resources Authority. Mr. D'Ercole currently represents several municipalities that are participating in public-private partnerships with developers of major multiuse development projects in their respective municipalities. Examples are Blue Back Square in West Hartford and the West Avenue (Waypointe) development project in Norwalk. He has had primary responsibility for the development of agreements and revenue sources from special services district taxes and parking revenues as security for the repayment of municipal bonds issued to fund the municipal component of the projects. Professional Associations - National Association of Bond Lawyers (NABL), Bankruptcy Committee, Chairperson - NABL, Legislative Action and General Obligation Bond Committees, Chairperson - Connecticut Association of Municipal Attorneys, President - Government Finance Officers Association - National Association of State Treasurers - National League of Cities - U.S. Conference of Mayors - Connecticut Governor's Commission on Local Government Honors and Awards - AV® Preeminent™ Peer Review Rated in Martindale-Hubbell™ in the areas of Finance, Securities, and Government (Martindale-Hubbell Peer Review Ratings is a trademark. AV Preeminent is a certification mark of Reed Elsevier Properties, Inc.) - Listed in The Best Lawyers in America ® in the area of Public Finance Law since 2005 (Copyright 2011 by Woodward/White, Inc., Aiken, SC) Experience - Representation of Connecticut Retirement Plans and Trust Funds concerning an investment in RFE Investment Partners VII, L.P. The investment required a $40 million commitment by the treasurer on behalf of the Connecticut Retirement Plans and Trust Funds. - Represent the treasurer of the State of Connecticut as trustee for the State's retirement plans and trust funds. Handled a series of investments in various equity/hedge funds on the State's behalf, most recently, a $40 million investment in a private equity fund. Services include performing due diligence and negotiating and drafting documents. Publications & Presentations Legislation - State of Connecticut Bradley International Airport Revenue Bonds Act - State of Connecticut Clean Water Fund Bonds Act - State of Connecticut Special Tax Obligation Bonds Act - State of Connecticut Tax-Exempt Investment Fund - Tax Increment Financing Bonds - Revisions to Ch. 130 and Ch. 132 - Redevelopment and Development Project Bonds - Revisions to state-enabling legislation/municipal bonds, including refunding bonds, commercial paper, variable rate obligations, interest rate swaps, and derivatives - Revisions to State of Connecticut General Obligation Bond Procedure Act |