Government Bonds

Stevens & Lee assists governmental clients in identifying and achieving their financial objectives through the development and implementation of innovative and cost-effective financing structures. We represent a significant number of governmental bodies, including counties, cities, municipalities, public authorities and school districts, as well as the Commonwealth of Pennsylvania, in public finance projects and other matters.

Stevens & Lee has served as bond counsel, underwriter’s counsel, issuer’s counsel and lender’s counsel in connection with the issuance of municipal debt for governmental capital projects and infrastructure improvements, including:

  • Water and sewer systems
  • Convention centers and sports arenas
  • Courthouses and government office buildings
  • Parking garages
  • Mass transit
  • School buildings and campus athletic facilities
  • Jails and prisons
  • Streets and walkways
  • Open space and farmland preservation

We have served as counsel in connection with the issuance of various types of municipal debt, including:

  • General obligation bonds and notes
  • Revenue bonds
  • Utility revenue bonds
  • Sales tax revenue bonds
  • Tax increment bonds
  • Tax and revenue anticipation notes
  • Long term working capital/deficit financing bonds, including unfunded debt

We represent all types of issuers and conduit borrowers in connection with post-issuance matters, including the restructuring of bond issues, minimization of arbitrage rebate obligations, the negotiation and drafting of agreements in connection with the investment of bond proceeds, reissuance analysis upon modification of debt instruments, interest rate swaps and other derivative and hedging agreements, the reorganizations/affiliations of charitable health care obligors, and in connection with IRS audits of tax-exempt debt and SEC investigations and enforcement actions.

In addition, FSL Public Finance, an affiliated company, provides municipal advisory, debt-related consulting and swap advisory services to assist our governmental clients in structuring financings to best meet our clients’ needs and securing fair market pricing in their financings.