Water, Sewer and Other Districts and Agencies: Chapman and Cutler LLP

Overview

Chapman and Cutler LLP serves as bond counsel, underwriter's or disclosure counsel and special counsel for all types of water, sewer and other districts and agencies that issue revenue bonds, general obligation bonds and other obligations. These districts and agencies are generally governmental or quasi-governmental entities and include water conservancy districts, metropolitan water districts, irrigation districts, improvement districts and similar entities.

Attorneys in the firm's Salt Lake City office are at the forefront of the development of new financing solutions for the capital needs of water providers in Utah.

Water, sewer and other districts and agencies issue bonds and other obligations secured by a variety of revenue sources. These sources include revenues from operations, general property taxes and various assessments. Many of these entities operate water systems, sometimes in connection with hydroelectric systems or sewer systems. We help these entities, their financial advisors and underwriters develop practical and marketable financing structures that satisfy federal, state and local legal requirements.

The firm's extensive experience with these districts and agencies also includes drafting legislation and assisting with the legislative process, prosecuting test litigation, advising with respect to bond elections as required, drafting organizational documents and proceedings, and providing related legal advice.

Fundamental issues considered and addressed by Chapman and Cutler attorneys include: constitutional, statutory and common laws governing the issuance of bonds; federal and state requirements for tax-exempt bonds; and federal and state securities laws governing bond offerings.

Our experience enables us to provide practical solutions to a variety of legal problems. For example, we are able to advise about the legal and practical implications of various contractual provisions such as rate covenants, parity bonds tests, reserve funds, payment of operation and maintenance expenses, and financial and other reporting provisions. Similarly, we consider how the legal structure will affect the marketability of the bonds, taking into account available revenue sources and any other security for the bonds.

The entire resources of Chapman and Cutler can be made available to clients. We are able to provide a wide range of counsel effectively and efficiently because our focus is on financial transactions and products, and our experience extends to the representation of a wide variety of financial institutions, governmental and business entities, and other organizations on financings and related matters.

Over the years, we have helped develop many financial structures and applications that provide significant advantages to these districts and agencies. We look forward to serving such valued clients in the years ahead.