LA County Public Works Financing Authority Issues $252 Million in Lease Revenue Bonds

Served as bond counsel to the Los Angeles County Public Works Financing Authority in connection with the approximately $252 million issuance of two rounds of lease revenue bonds.  Our team overcame complex federal tax considerations to allow a portion of the financing to be treated as a 501(c)(3) bond for federal tax purposes. This fast-paced lease revenue financing involved significant due diligence regarding the federal tax status of the non-profit operator of a county-owned hospital and resulted in a lower cost of borrowing for the county.