Tax-Exempt Obligations
Pacifica’s public finance team has extensive experience with tax-exempt and tax-advantaged obligations. We serve as bond counsel for a variety of governmental financings, including limited and unlimited tax general obligation bonds, utility revenue bonds, higher education revenue bonds, assessment bonds, refunding obligations, tax credit and direct-pay bonds, and bond anticipation notes. We also serve as bond counsel for conduit financings, including multifamily housing bonds, small issue manufacturing bonds, and qualified 501(c)(3) bonds for elementary and secondary schools, private colleges and universities, continuing care facilities, museums, and other facilities.
Our team drafts the tax covenants and tax-related disclosure; prepares tax certificates and refunding agreements; and delivers an opinion regarding the tax-exemption of the obligations. After the financing closes, we advise clients as requested on arbitrage and rebate regulations, calculating private use, taking remedial actions when required, and responding to IRS questionnaires, examinations, and audits. Pacifica attorneys also work closely with clients to develop policies and procedures addressing post-issuance tax compliance, and we often provide tax training and compliance workshops.
Pacifica’s public finance tax practice is led by our full time “Section 103” tax partner, Alison Benge. Alison has been practicing public finance law since 2002, with an emphasis on the federal tax requirements for tax-exempt and tax-advantaged obligations. In addition to providing tax expertise on Pacifica’s public finance transactions, Alison is available to serve as outside or special tax counsel to other law firms or to municipal issuers seeking specialized tax advice. In this capacity, Alison can provide general tax advice, formal tax opinions, back-up tax opinions, tax-related documentation and disclosure, and guidance on post-issuance compliance.
Practice Attorneys
Alison Benge
PARTNER
Stacey Crawshaw-Lewis
PARTNER
Deanna Gregory
PARTNER
Jon Jurich
PARTNER
Faith Pettis
PARTNER
Tobias D. Tobler
ASSOCIATE
