Municipal Finance: Structuring Tax-Exempt Finance Models for Local Governments
Lease-Purchase Agreements, Conditional Sales Contracts, and Certificates of Participation
Note: CPE credit is not offered on this program
A live 90-minute CLE video webinar with interactive Q&A
This CLE course will discuss strategies for successfully structuring and documenting municipal lease-purchase and certificate of participation (COP) transactions. The panel will explore the structure of lease-purchase and COP financings, the state and federal law issues relating to tax-exempt lease-purchase financing, common pitfalls to avoid when working with this financing model, and key terms to include to limit risk and optimize the utility of this strategy for local governments.
Outline
- Tax-exempt lease financing overview
- Parties and common uses
- State law considerations
- Federal tax considerations
- Methods of tax-exempt lease financing
- Lease-purchase
- Certificates of participation
- Lease revenue bonds
- Common drafting issues
- Key terms
- Non-appropriation
- Limiting risk (indemnification, nonsubstitution, essentiality, etc.)
Benefits
The panel will review these and other considerations:
- What local government officials and municipal attorneys should know about lease-purchase financing
- What is the effect of a non-appropriation?
Faculty
Allison M. Binkley
Partner
Squire Patton Boggs
Ms. Binkley focuses her practice on serving as bond counsel, underwriter’s counsel and purchaser’s counsel... | Read More
Ms. Binkley focuses her practice on serving as bond counsel, underwriter’s counsel and purchaser’s counsel on general obligation financings, tax increment financings, utility revenue financings and special obligation financings. Her client base includes the State of Ohio, counties, municipalities, townships, port authorities, school districts, state universities, trustees, letter of credit banks, investment banking firms and financial institutions. Ms. Binkley has also served as bond counsel on 501(c)(3) and health care conduit financings. She has been recognized as a 2025 Best Lawyers in America for Public Finance Law and an Ohio Super Lawyer Rising Star from 2012-2017. Ms. Binkley is a member of the Ohio Government Finance Officers Association, for which she served as a trustee for two terms and currently serves on the education committee. She also serves on the board of Women in Public Finance – Ohio Chapter. Ms. Binkley is also a member of the National Association of Bond Lawyers. She also frequently presents at public finance conferences including the Ohio Government Finance Officers Association and the Ohio Treasurer of State’s Center for Public Investment Management.
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Ryan K. Callender
Partner
Squire Patton Boggs
One of Mr. Callender’s primary areas of focus is in the structuring of water and sewer revenue debt financing. He... | Read More
One of Mr. Callender’s primary areas of focus is in the structuring of water and sewer revenue debt financing. He has served as bond counsel, underwriter’s counsel and disclosure counsel for a variety of water and/or sewer entities throughout the country. In addition, Mr. Callender has experience serving as bond counsel and underwriter’s counsel for various state revolving funds including serving as bond counsel to the Ohio Water Development Authority for more than US$3 billion of bond, floating rate note and commercial paper issues. He is also an active member of and frequent speaker for the Council of Infrastructure Financing Authorities.
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