HOUSTON – June 29, 2023 – Coats Rose attorney Timothy Green represented Piper Sandler in the underwriting of $35,000,000 of Special Revenue Capital Appreciation Bonds issued by an out-of-state Public Facility Authority (“PFA”).
The PFA Bonds are secured solely by future payments by a Texas municipal utility district (“MUD”) from bonds issued by the MUD to acquire public infrastructure constructed by a developer within the MUD.
The PFA Bonds were issued at a 7.75% interest rate payable at maturity (2029) or, in phases, on earlier dates as MUD bond proceeds are received by the PFA.
Tim Green specializes in public finance throughout Texas, including particularly the creation of special purpose districts to finance public infrastructure. He has been involved in the development of thousands of acres of land for residential and commercial purposes, and the issuance of over $15 billion of tax-exempt bonds for the financing of public infrastructure.
About Coats Rose, P.C.
Coats Rose is a transactional and litigation law firm focused on development: the development of real estate, special purpose districts, affordable housing, business, and private wealth. We provide legal counsel to businesses, governmental entities, corporate and high-net worth clients across the U.S. and internationally. For over 30 years, the firm has leveraged its vast legal experience to fulfill clients’ needs spanning real estate law, public finance, affordable housing and community development, construction/surety law, commercial litigation, government relations, intellectual property, mergers and acquisitions, securities law and tax. In addition to its headquarters in Houston, Coats Rose has offices in Dallas, Austin and Cincinnati.