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Public Finance

Overview

The complexity and diversity of bond projects demands expertise beyond legal knowledge. Our attorneys have broad experience in a variety of financing projects and a long track record of successful representation.

Since 1980, Varnum has been listed in the Bond Buyer’s Municipal Marketplace (the “Red Book”), and several of the firm’s attorneys are members of the National Association of Bond Lawyers. We couple our significant bond counsel experience in traditional governmental bonds, small issue private activity bonds and qualified 501(c)(3) bonds with careful attention to detail.

In addition to serving as bond counsel, the firm has also represented bond purchasers, letter of credit banks, borrowers and bond obligors in hundreds of other tax-exempt financing transactions. The bond purchasers for these issues have included individuals, institutional investors, underwriters and other investment funds. We have also served as underwriter’s counsel for small issue private activity bonds and qualified 501(c)(3) bonds.

Governmental Bond Financing

These projects have involved general obligation, capital improvement, building authority, special assessment, transportation fund, tax increment, revenue and refunding bonds. We have served as bond counsel in the issuance of bonds supported by tax increment revenues for downtown development authorities, tax increment finance authorities and local development finance authorities.

Educational Entities

We have served as bond counsel for school districts and community colleges in financing energy conservation improvements and other capital projects. We have also represented school districts issuing building and site bonds qualified with the Michigan School Bond Loan Program, and are familiar with the state officials involved in that program. We have also served as bond counsel for the issuance of qualified zone academy bonds, school refunding bonds, tax anticipation notes, state aid notes and equipment financings.

State of Michigan

We have acted in various capacities (including bond counsel, underwriter’s counsel, credit enhancer’s counsel and obligor’s counsel) in tax-exempt and taxable financings by the State of Michigan, the Michigan State Building Authority and several state agencies and departments such as the Michigan Department of Treasury, the Michigan Department of Transportation, the Michigan Strategic Fund, and the Michigan Finance Authority. In addition, we have been involved with several of its predecessor organizations, including the Michigan Higher Education Facilities Authority, the Michigan State Hospital Finance Authority, the Michigan Municipal Bond Authority and the Michigan Underground Storage Tank Financial Assurance Authority.

Manufacturing and Charitable Bond Financings

The firm is approved as bond counsel for the Michigan Strategic Fund for purposes of financing manufacturing facilities and facilities for 501(c)(3) organizations. The firm has also acted as bond counsel to numerous Michigan municipalities and economic development corporations for such bond issues.

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