Experience

$75,595,000 City of Cincinnati, Ohio Water System

$75,595,000 Water System Refunding Revenue Bonds, Series 2017A (Bond and Disclosure Counsel)

$82,905,000 City of Cincinnati, Ohio General Obligation Bonds

$82,200,000 City of Cincinnati, Ohio Unlimited Tax Various Purpose General Obligation Improvement and Refunding Bonds, Series 2017A
$705,000 City of Cincinnati, Ohio Unlimited Tax Various Purpose General Obligation Refunding Bonds, Series 2017B (Federally Taxable) (Bond and Disclosure Counsel)

$85,150,000 Village of Bluffton, Ohio (Blanchard Valley Regional Health System)

$85,150,000 Village of Bluffton, Ohio Hospital Facilities Revenue Refunding Bonds, Series 2017 (Blanchard Valley Health System) (Bond and System Counsel)

$119,575,000 City of Cincinnati, Ohio Water System

$25,000,000 Water System Revenue Bonds, Series 2016A
$29,745,000 Water System Refunding Revenue Bonds, Series 2016B
$64,830,000 Water System Refunding Revenue Bonds, Series 2016C (2019 Crossover) (Bond and Disclosure Counsel)

$15,410,000 Greater Cleveland Regional Transit Authority

$15,410,000 Greater Cleveland Regional Transit Authority Sales Tax Supported Capital Improvement Refunding Bonds, Series 2016 (Bond Counsel)

$35,920,000 County of Franklin, Ohio, Series 2016 Bonds

$22,430,000 County of Franklin, Ohio Various Purpose Improvement and Refunding General Obligation Bonds, Series 2016 (Limited Tax) (Tax-Exempt)
$6,990,000 County of Franklin, Ohio Taxable Special Obligation Refunding Bonds, Series 2016 (Stadium Facility Project)
$6,500,000.00 County of Franklin, Ohio Sewer Improvement Notes, Series 2016 (General Obligation – Limited Tax) (Tax-Exempt) (Loop Capital Markets LLC – Underwriter’s Counsel)

$42,590,000 Lexington-Fayette Urban County Government Public Facilities Corporation Mortgage Revenue Refunding Bonds

$42,590,000 Lexington-Fayette Urban County Government Public Facilities Corporation Mortgage Revenue Refunding Bonds (Court Facilities Project) Series 2016 (Disclosure Counsel)

$58,410,000 Lexington-Fayette Urban County Airport Board General Airport Revenue Bonds

$4,840,000 Lexington-Fayette Urban County Airport Board General Airport Revenue Bonds, 2016 Series A (Lexington-Fayette Urban County Government General Obligation) (Non-AMT)
$4,880,000 Lexington-Fayette Urban County Airport Board General Airport Revenue Bonds, 2016 Series B (Lexington-Fayette Urban County Government General Obligation) (AMT)
$39,095,000 Lexington-Fayette Urban County Airport Board General Airport Revenue and Revenue Refunding Bonds, 2016 Series C (Lexington-Fayette Urban County Government General Obligation) (Federally Taxable)
$5,345,000 Lexington-Fayette Urban County Airport Board General Airport Revenue Bonds, 2016 Series D (Lexington-Fayette Urban County Government General Obligation) (Non-AMT)
$4,250,000 Lexington-Fayette Urban County Airport Board General Airport Revenue Refunding Bonds, 2016 Series E (Lexington-Fayette Urban County Government General Obligation) (Non-AMT)) (Bond and Disclosure Counsel)

Our Smaller Municipal Clients Highly Valued – Bond Counsel and Construction Counsel

A small, rural school district unfortunately experienced a failing HVAC system in the middle of a cold, Ohio winter. With our assistance, they developed a project delivery method for a new system complying with the myriad of Ohio construction laws applying to political subdivisions and the project was financed, delivered and completed all within a budget acceptable to our client.

IRS Letter Ruling gives school district extra time to spend bond proceeds

We obtained an IRS Private Letter Ruling to allow a public school district an extension to spend qualified school construction bond proceeds. The school would have had to spend the tax advantaged bond proceeds within three years, but the Letter Ruling allowed the district additional time to spend the bond proceeds due to unforeseen circumstances outside of the school district’s control.

$8,815,000 Various Purpose Limited Tax General Obligation Refunding Bonds, dated 10/14/15

$40,284,966 School Improvement Bonds, dated 10/11/05

$8,580,000 School Improvement Refunding Bonds, dated 9/3/15

Issuer’s Counsel for $23 million bond used for continuing care retirement community

We were Issuer’s Counsel on a $23 million bond issuance. The money was used to refinance $18 million of previous bonds and $5 million to upgrade the facilities at a non-profit continuing care retirement community.

$30.4 million bond used to renovate building at state university

We acted as bond counsel for a public university for the first issue of Green Bonds by a public university in the nation. The proceeds were used to fund a portion of the renovation of a building.

$91.4 million two series of bonds used to renovate public university’s football stadium

We acted as bond counsel for a public university for two issues, the proceeds of which were used to renovate the university’s football stadium. We worked with the University Architect’s office, internal tax counsellors, Athletic Department and Foundation to determine which parts of the project could be financed on a tax-exempt basis and which had to be financed on a taxable basis.

Borrower’s Counsel to private university for refunding issues

We acted as Borrower’s counsel to a private university for three refunding issues of the State of Ohio, two of which were privately placed and one of which was sold publicly. We assisted the university with matters concerning existing swap agreements, financial covenants, continuing disclosure issues and real estate matters.

Falling interest rates lead to Arbitrage Rebate recovery overpayment for city

We were able to request and obtain from the IRS recovery of an arbitrage rebate overpayment for a city. Due to interest rates falling, we were able to request and recover approximately $100,000 of a rebate overpayment from the IRS.

$69,130,000 School Facilities Construction & Impt.Refunding Bonds, Series 2015, dated 5/21/15

Structured public private partnership between Ohio City and charitable trust for park development and preservation

Using a public private partnership between the City and a charitable trust, structured the acquisition financing of blighted properties abutting shoreline of Ohio’s largest man-made lake. Through the partnership’s efforts, the properties will be redeveloped and available for park and greenspace purposes for future generations to come.

Tax-Exempt Healthcare Financing for Community Hospital Accomplishes Saving and Plows More Money Back into Healthcare Mission

Guided community hospital through tax-exempt bond new money and refinancing process achieving substantial refinancing savings. Proceeds from the bonds were used to acquire much needed hospital bed upgrades and new technology for diagnostics, surgery and oncology, all of which are critical to the delivery of effective health care services to the community.

Joining Economic Development and Brownfield Development to Further Community Goals

With an old municipal landfill holding up development in an otherwise vibrant and growing suburban community, worked with a community improvement corporation to structure acquisition and construction financing for environmental remediation of a brownfield and the creation of a nine-hold executive golf course, clubhouse and driving range allowing for adjacent mixed-use development to move the development forward.

Ohio’s First Large Scale P3 Project– the Portsmouth Bypass Project

Maneuvering Ohio’s new P3 statute and contributing to the successful coordination of financial close on over $200 million in tax-exempt private activity bonds, we assisted the finance team on the Ohio Department of Transportation’s first P3 deal for the 16-mile, four-lane limited access highway that links Rts 23 and 52 in Portsmouth, Ohio.

Unique Draw-Down Direct Bank Purchase Advance Refunding Bonds Saves Local Hospital Interest Expense

All tax-exempt direct purchases are definitely not alike. Counseling a bank client on the offering of a variable rate, draw-down advance refunding of tax-exempt bonds with a forward starting swap wasn’t a run-of-the-mill financing but through our efforts the bank retained a valuable hospital client and the hospital took advantage of historically low interest rates to achieve substantial savings.

Floating Rate Note Programs – Multiple Benefits Achieved

Representing an underwriter in for State Revolving Fund Program structuring multiple tax-exempt and taxable floating rate note programs for a State revolving fund issuer for various water development purposes. The issuer achieved not only access to capital on flexible, market terms, but also accomplished its state law objectives that would otherwise restrict it from making critical loans to local governments prior to the issuance of long-term fixed rate bonds.

$100 million Financing of Department of Transportation District and County Outpost Facilities

Managing approximately 19,300 of roadway under its jurisdiction, we assisted the Department in a financing of $100 million in improvements to its District and County outpost facilities where most highway-related functions are preformed, like planning, design, construction, engineering and maintenance.

Refinancing State Water Program Bonds

Marc worked with the finance team to move quickly into the market to take advantage of market conditions for significant present value savings for the program, ultimately benefiting local government agency borrowers.

Higher Education Financing – Helping Our Clients Provide for Their Educational Environments

Configuring two different credit facilities to achieve refinancing interest expense savings and to leverage long-term investment income and short term interest rates, we assisted in the development of a program of financing that allowed this institution of higher learning to conserve its financial resources and further its educational mission.

$20.9 million bonds for National Church Residences Flexible Bond Program

We served as bond counsel for National Church Residences, an Ohio nonprofit corporation that specializes in the development, construction and management of affordable and market rate housing for seniors in its 330+ facilities located in 28 states and Puerto Rico. In these transactions, we worked with our client - and its special purpose financial advisor - to create a flexible bond program. This allows separate series of bonds to be issued by the Public Finance Authority, a multi-jurisdictional issuer, for the benefit of various affiliates of our client.

One of the unique aspects of these transactions is that tax-exempt or taxable bonds for the benefit of different borrower-affiliates may be issued under a common master bond indenture, which allows for bonds of each series to be issued relatively quickly and efficiently for the benefit of our client and its affiliates. This enables our client to coordinate their capital needs with their acquisition and/or construction schedules.

Underwriter’s Counsel for Unique Tender Offer and issuance of $125 million revenue bond

We served as Underwriter’s Counsel to our client, RBC Capital Markets (Underwriter) in connection with the issuance of tax-exempt revenue bonds for Ashland Hospital Corporation d/b/a King’s Daughters Medical Center. The medical center is a 465-licensed bed acute care hospital, with related facilities, located in the northwest region of Kentucky. In this transaction, a portion of the proceeds of the Series 2014 Bonds was used to finance the costs of the purchase of bonds previously issued for the benefit of the client (Tendered Bonds). The Tendered Bonds were obtained by the client through a successful tender process with the assistance of the Underwriter and Dinsmore pursuant to an Invitation to Tender Bonds filed with the MSRB’s electronic municipal market access system.

Other Representative Deals

$74,380,000 Michigan Finance Authority Hospital Revenue Refunding Bonds (Bronson Healthcare Group, Inc.), Series 2019A

$63,670,000 Michigan Finance Authority Hospital Revenue Bonds (Bronson Healthcare Group, Inc.), Series 2019B

$59,715,000 Michigan Finance Authority Hospital Revenue Bonds (Bronson Healthcare Group, Inc.), Series 2019C

$44,095,000 City of Middleburg Heights, Ohio Hospital Facilities Improvement and Refunding Revenue Bonds, Series 2020A (Southwest General Health Center Project) (Tax-Exempt)

$26,040,000 City of Middleburg Heights, Ohio Hospital Facilities Refunding Revenue Bonds, Series 2020B (Southwest General Health Center Project) (Federally Taxable)

$10,325,000 Lorain County Port Authority Economic Development Facilities Revenue Refunding Bonds, Series 2021A (Kendal at Oberlin)

$3,500,000 Lorain County Port Authority Economic Development Facilities Revenue Refunding Bonds, Series 2021B (Kendal at Oberlin)

$94,420,000 South Carolina Jobs-Economic Development Authority Hospital Facilities Revenue Bonds, Series 2022A (Bon Secours Mercy Health, Inc.) dated September 29, 2022

$96,355,000 Virginia Small Business Financing Authority Health Facilities Revenue Bonds, Series 2022A (Bon Secours Mercy Health, Inc.) dated September 29, 2022

$213,320,000 County of Allen, Ohio Hospital Facilities Revenue Bonds, Series 2022B (Bon Secours Mercy Health, Inc.)

$47,970,000 County of Franklin, Ohio Health Care Facilities Revenue Refunding Bonds, Series 2022 (First Community Village Obligated Group)

$59,925,000 County of Franklin, Ohio Health Care Facilities Revenue Bonds, Series 2023 (Ohio Living Communities)

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