Overview
Chapman and Cutler LLP provides bond counsel, underwriter's or disclosure counsel and issuer's counsel representations in obligations issued by sanitary districts. Sanitary districts may issue voter-approved general obligation bonds supported by an ad valorem tax levy for corporate purposes, including capital expenditures for sanitary sewer and storm water management projects, improvements and equipment.
Sanitary district funding types vary from system to system. For instance, the Metropolitan Water Reclamation District of Greater Chicago may issue non-referendum general obligation limited tax bonds.
Sanitary districts may choose to issue revenue bonds for waterworks acquisition and improvements, debt certificates for the purchase of real or personal property and general obligation alternate bonds for projects. Additionally, these entities may choose to levy special assessments and issue bonds payable from special assessments, while some restructure outstanding debt by issuing refunding bonds.
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