Municipalities issuing general obligation promissory notes under section 67.12 (12) of the Wisconsin Statutes may now take advantage of a statutory maximum maturity date of 20 years. 2023 Wisconsin Act 128 (the “Act”) took...more
Executive Summary -
On November 15, 2021, President Biden signed into law the Infrastructure Investment and Jobs Act (Public Law 117-58) (the “Act”). The Act provides for more than $550 billion in new infrastructure...more
As “Green Bond” designations become more prevalent in the public finance market, many health care providers are asking: Are Green Bonds Right for Me? Not all transactions are able to achieve designation as Green Bonds,...more
As a result of tax and other revenue deferrals and other Coronavirus-related stressors affecting state and local governments, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) announced on April 9,...more
The U.S. Securities and Exchange Commission’s (the “SEC”) Rule 15c2-12 (the “Rule”) requires an underwriter in a primary offering of certain municipal securities to reasonably determine that an issuer or obligated person (as...more
On May 4, 2020, the U.S. Securities and Exchange Commission (the “SEC”) released a Public Statement (the “Statement”) from Chairman Jay Clayton and Rebecca Olsen, Director of the SEC’s Office of Municipal Securities (“OMS”),...more
As a result of tax and other revenue deferrals and other Coronavirus-related stressors affecting state and local governments, the Board of Governors of the Federal Reserve System (the “Federal Reserve”) announced on April 9,...more
On August 20, 2018, the Securities and Exchange Commission (“SEC”) issued Release No. 34-83885 (the “Release”) adding two new events (the “New Events”) to the list of events that must be included in the continuing disclosure...more
8/30/2018
/ Amended Rules ,
Broker-Dealer ,
Compliance Dates ,
Disclosure Requirements ,
EMMA ,
Financial Obligations ,
MCDC ,
MSRB ,
Municipal Bonds ,
Municipal Securities Issuers ,
Municipalities ,
Rule 10b-5 ,
Rule 15c2-12 ,
Securities and Exchange Commission (SEC)
In the past few years, the IRS has changed its guidance on whether “management contracts” result in private business use for purposes of the restrictions on use of property financed with tax-exempt bonds. This update...more
5/8/2018
/ Borrowers ,
Compensation ,
Hospitals ,
Internal Revenue Code (IRC) ,
IRS ,
Management Contracts ,
New Guidance ,
New Rules ,
Physicians ,
Public Private Partnerships (P3s) ,
Revenue Procedures ,
Safe Harbors ,
Service Contracts ,
Tax-Exempt Bonds
On December 9, 2016, the Department of the Treasury and Internal Revenue Service (IRS) published final regulations on the definition of “issue price,” for purposes of the arbitrage rules that apply to tax-exempt bonds....more
On March 1, 2017, the Securities and Exchange Commission (“SEC”) issued Release No. 34-80130 (the “Release”) proposing several amendments to its Rule 15c2-12 (the “Rule”) that would add two new events to the list of events...more
3/14/2017
/ Annual Statements ,
Broker-Dealer ,
Disclosure Requirements ,
EMMA ,
Financial Statements ,
MSRB ,
Municipal Bonds ,
Municipal Securities Issuers ,
OMB ,
Proposed Amendments ,
Public Comment ,
Securities and Exchange Commission (SEC)
On August 22, 2016, the Internal Revenue Service (IRS) released Rev. Proc. 2016-44, which provides new guidance on the treatment of “management contracts” for purposes of the restrictions on use of property financed with...more