David Unkovic

David Unkovic

McNees Wallace & Nurick LLC

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Bank Loans Grow In Municipal Market While Bond Issues Shrink

Significant developments in the way municipal entities borrow money are under way. Last year, issuances of new municipal bonds in traditional municipal bond markets dropped to near historic lows and the outlook for 2014 is...more

7/23/2014

Regional Stormwater Systems: How Should They Be Structured and Financed?

In the world of water and sewage, there are three general types of systems: A "water system" is for drinking water. Raw water is taken from a collection point (for example, a river, a lake or an underground aquifer)...more

4/23/2014 - Clean Water Act Drinking Water Financing Municipalities Sewer Systems Utilities Sector Water

Securing Public Deposits Under Pennsylvania's Act 72

A governmental entity in Pennsylvania may deposit its moneys in a financial institution only if the financial institution pledges collateral for the deposit to the extent the deposit exceeds the FDIC insurance limits. This...more

3/28/2014 - Banks Collateral FDIC

Anatomy Of A Bond Issue: The Participants And The Steps

For many local government officials and solicitors in Pennsylvania, a bond issue is a rare occurrence perceived to be shrouded in mystery. Like most things in life, it is only mysterious because it is unfamiliar. Once you...more

3/4/2014 - Bonds Municipal Bonds SEC

The Critical First and Last Steps in a Municipal Workout: Vallejo, Harrisburg and Detroit

The first critical step in a municipal workout, whether inside or outside of bankruptcy, is to get all parties, the debtor and the creditors, to accept that they will all have to incur significant losses as a result of the...more

1/22/2014 - Municipal Bankruptcy Municipalities

Some Thoughts on Puerto Rico and Other Distressed Issuers

Fact One: There are 3.7 million Puerto Ricans, 45% of whom live in poverty. Fact Two: According to its April 3, 2012 Official Statement, Puerto Rico has $68 billion of debt. Fact Three seems obvious: it is going to be...more

12/5/2013 - Debt Fees Interest Payments Issuers Pensions Poverty Sovereign Debt Swaps

SEC Issues Final Municipal Advisor Registration Regulations

On September 20, 2013, the Securities and Exchange Commission (SEC) published its final regulations regarding the registration of “municipal advisors.” These final regulations create a permanent registration regime in place...more

12/3/2013 - Municipal Advisers Municipalities SEC

The Role of Issuer's Counsel In A Bond Issue

Municipalities have their general counsels who handle their normal legal work, including litigation, contracts and labor matters. These lawyers go by different names in different states, such as city attorney, corporation...more

11/8/2013 - Bonds Corporate Counsel Prospectus

Commentary - General Obligation Debt: The Good, the Bad and the Ugly

Some in the public finance world are arguing that the Detroit bankruptcy and similar situations call into question the efficacy of general obligation debt, thereby undermining the market for and pricing of general obligation...more

8/9/2013 - Borrowers Debt Debt Collection Lenders

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