At The Weist Law Firm based in the Bay Area region of California, we have been serving as disclosure counsel to public entities such as cities, counties, water agencies, sanitary districts, redevelopment agencies (now successor agencies), joint powers authorities and other such municipalities for the past three decades. We know the questions to ask, the documentation to submit and the importance of working with all other parties involved in a municipal public improvement financing project. Teamwork and tenacity have allowed us to identify mistakes and problems that could otherwise derail a public offering if not caught and corrected.
Disclosure Counsel Serving Municipalities
If the bond counsel is sometimes seen as the quarterback of a public financing transaction, the disclosure counsel is then the coach. The independent disclosure counsel oversees the work of the bond counsel, the financing consultants and other professionals involved in public financings. The result of this oversight and due diligence is brought forth in the precise form of a fully disclosed official statement or offering memorandum.
Typical Duties of a Disclosure Counsel
As disclosure counsel, The Weist Law Firm typically:
Prepares the official statement or other offering memorandum disclosing all information pertinent to a potential bond investor
Drafts the necessary SEC 10(b)(5) antifraud opinion
Identifies potential changes and incorporates them into the official statement
Reviews all documentation prepared by the issuer, bond counsel, underwriter and financial advisor
Assists with the issuance and sale of bonds
Drafts and processes the bond purchase contract
Reviews and reports on all applicable disclosable matters
Participates in informational meetings with ratepayers, developers, and other such project stakeholders
Ensures that all IRS, SEC, MSRB and other such regulatory agency requirements are met
Works with public entity’s manager and chief financial officer on all matters related to the public offering
Whether for a new school campus, a new city hall or for an expansion of an existing water or wastewater treatment facility, public offerings overseen by The Weist Law Firm have been accurately disclosed, trouble-free and have achieved the goals desired by our public entity clients.
Schedule a Meeting with Our Team
We would love to learn more about how we can help your agency.