City and County

Stradling consistently delivers sophisticated financing solutions to municipalities seeking to leverage general fund resources without triggering constitutional debt limitations. Local governments face mounting pressure to sustain essential services and infrastructure maintenance while confronting revenue volatility, pension obligations, and deferred capital needs. Our firm represents cities and counties throughout California and nationally in crafting lease-revenue transactions, certificates of participation, and appropriation-backed obligations that address crucial public infrastructure needs. Our team develops financing strategies aligned with governmental budgeting practices, covenant structures reflecting municipal fiscal realities, and security provisions acceptable to both rating agencies and institutional investors.

Municipal general fund financings often require meticulous attention to constitutional constraints, statutory authorizations, and judicial precedents unique to such entities. Our team analyzes revenue streams, evaluates appropriation risks, and structures abatement provisions reflecting the operational characteristics of financed assets. We draft documentation incorporating appropriate safeguards while maintaining practical flexibility for evolving governmental priorities. Local governments rely on these financing tools to address pressing capital requirements when alternative revenue sources prove insufficient or unavailable for essential public purposes. Our experience includes advising on the financing of:

• Police and fire facilities development and modernization
• Administrative buildings and public service centers
• Parks, libraries, and community recreational facilities
• Information technology infrastructure and equipment
• Fleet acquisition and replacement programs
• Energy efficiency improvements and sustainability projects
• Roads and other necessary arterial infrastructure

We bring decades of transactional experience to each financing, addressing the distinctive considerations facing city and county general fund borrowers. Our team is dedicated to monitoring legislative developments, tracking judicial interpretations, and anticipating shifting investor expectations regarding municipal credit structures. We recognize the political sensitivity surrounding general fund obligations and develop transparent documentation clearly articulating security provisions, appropriation mechanics, and budgetary commitments. This approach allows us to negotiate, document, and close financings that can withstand public scrutiny and deliver capital for essential governmental functions. The municipal market continues to evolve with changing disclosure standards and investor preferences—we are agile and adapt to ongoing developments to ensure clients receive real time market perspectives throughout their financing processes.