THIS IS AN ADVERTISEMENT.
Our tradition of service. Our institutional knowledge traces back to the firm's establishment in 1889. Our firm has "grown up" with the changing law of public finance through the past century. That institutional knowledge is coupled with the individual knowledge of our attorneys, several of whom have over 30 years of experience in helping political subdivisions, governmental entities and issuers of all types finance public infrastructure improvements, capital projects and equipment acquisitions. We have vast experience in all aspects of public finance transactions, including the preparation of legislation, tax levy proceedings, voted bond issue proceedings, issuer documentation, and securities and tax compliance. We are committed to working with governmental entities as a team, providing the knowledge and resources to accommodate the growing needs of governments.
Bridging the gap between "what if" and "how to." The law is in constant motion and the value that we bring to our clients through consultation, advice and documentation, has a reciprocal value to our public finance practice. Our clients are confronted with the daily pressures of budget constraints and providing an increasing number of services, while attracting economic development (see "ECONOMIC DEVELOPMENT"). These challenges demand detailed knowledge of state and local funding sources and the implications associated with public financing transactions. Our connectivity with our clients continually enriches our public finance practice and resources, while providing us with daily opportunities to help governments bridge the gap between "what if" and "how to."
Our doors do not close with the financing. We have a tradition of service. Normally, we do not bill on an hourly basis, so a client gets the full amount of time and attention required to have questions answered and projects completed, knowing in advance that the charge for the project will be certain and thus can be accurately budgeted. We do not have an "on the clock" mentality, so we can provide fully professional service with a generous amount of personal attention to the client. Once a transaction has been completed, we do not go away. We are available for consultation, issue-spotting and problem solving after the documents have been signed.
Experience with all varieties of traditional governmental finance. We participate in hundreds of traditional governmental transactions each year, involving the financing of projects including roads, water and sewer systems, buildings, equipment, utilities, communications and energy conservation, to list a few (see "INFRASTRUCTURE"). Peck Shaffer also helps provide financing for unique projects, such as stadiums and convention centers (see "SPORTS AND CONVENTION FACILITIES"), cultural centers and riverfront development. We have worked with all types of issuers of tax-exempt obligations, including traditional governmental entities such as states, counties, municipalities, townships and school districts (see "EDUCATION - PUBLIC/PRIVATE/HIGHER - Public Schools"), as well as governmental commissions, port authorities, community improvement corporations, transportation improvement districts and other quasi-governmental agencies.
Experience with financial institutions. Peck Shaffer has a great deal of experience in working with all types of investment banking firms, financial institutions, trustees, rating agencies and credit support providers. This experience helps make transactions more fluid, as the mechanics of the financing and the documentation is familiar. In addition, Peck Shaffer routinely works with investment banking firms and financial institutions to provide counsel to such underwriters and purchasers (see "UNDERWRITER'S COUNSEL").
Advisory and Support Services. In addition to bond counsel services, Peck Shaffer also provides advice and assistance regarding the impact of fund transfers, refundings, tax levy proceedings, special assessment proceedings, derivative products (such as SWAPs), bank eligibility, arbitrage and rebate (see "TAX AND FINANCIAL ANALYSIS - Rebate Services"), and continuing disclosure services (see "SECURITIES AND DISCLOSURE").
Providing a sense of direction. The attorneys at Peck Shaffer know the value of teamwork. Our years of experience in working with issuers, underwriters, credit providers, rating agencies and trustees enable us to guide issuers through the sometimes confusing path of approvals and documentation requirements necessary to successfully complete public financing transactions. In many cases, participants in a transaction feel as though they are lost amidst a myriad of issues that seem to compound. We are here to provide our clients with an explanation of the necessary procedural steps and the rationale for behind these steps. We want our clients to have a sense of direction and timing, to put their minds at ease, and also let them know that someone is paying attention to deadlines. Our experience provides us with the "know-how" to address issues before they become problems, which means asking the right questions. By asking and addressing the right questions, we can give our clients not only excellent service, but also the confidence that their public finance matters are in capable hands.
Legislative involvement. Sometimes the best solution to a governmental issue is a legislative change. The attorneys at Peck Shaffer have been helping to drafting changes to state statutes for decades. This involvement gives us intimate knowledge of the rationale behind such statutes and the ability to discern their scope. In addition to our active role in shaping public finance law, Peck Shaffer has an extensive collection of research memoranda to help clients with existing public finance issues.
A notable example was our involvement in the drafting of enabling legislation for general obligation financing in the Commonwealth of Kentucky and our representation of the City of Winchester, Kentucky as bond counsel in the landmark case upholding the constitutional amendments adopted to authorize this form of financing. We have worked with both bond insurers and the rating agencies to secure the most favorable ratings possible for Kentucky issuers of general obligation debt. We were also engaged by a bond insurance provider to provide a legal memorandum regarding the status of general obligation financing in Kentucky.
Understanding the political and bureaucratic environment. We have worked with councils, boards, governing bodies, elected officials and directors of all types. We have experience with project review boards and committees, as well as being involved with public hearings of all sorts. We recognize the value of internal support based on inclusiveness and consensus-building. We have navigated transactions to completion which required the cooperation of multiple governmental entities.
Understanding time pressures. We are also sensitive to the time pressures involved with many projects. Based on years of experience, Peck Shaffer attorneys carefully anticipate obstacles common to public financings which can cause project delays or cancellations. When unexpected issues arise, we offer seasoned advice in order to deftly maneuver toward closing.
Reputation in the traditional governmental finance community. Our attorneys are very active in various professional organizations related to traditional government finance. Our partners have and are serving as board members of the Ohio Government Finance Officers' Association and the Association for Governmental Leasing & Finance and are acting as advisors for the County Commissioners' Association of Ohio, the Ohio Cultural Facilities Commission, as well as port authorities and community improvement corporations, among other organizations. Our attorneys frequently serve as conference speakers and panelists for organizations such as the National Association of Bond Lawyers, Ohio Municipal League, Ohio GFOA, Ohio School Boards Association, Ohio State Treasurer's Office, and Buckeye Association of School Administrators. We are available to provide presentations to governmental entities on any/all aspects of public finance.