HOUSTON – November 3, 2023 – Coats Rose Attorneys, Timothy Green and Mallory Craig represented Piper Sandler in the underwriting of $15,872,430.25 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 from bonds to be issued in the future by a Texas municipal utility district (“MUD”) to acquire public infrastructure constructed by a developer within the MUD.
The PFA Bonds were issued at a 8.25% interest rate payable at maturity (2028), or 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 $16 billion of tax-exempt bonds for the financing of public infrastructure.
Mallory Craig specializes in the representation of special purpose districts and in public finance. She has acted as underwriter’s counsel, bond counsel, and general counsel for over 8 years, assisting in the issuance of over 100 special purpose district bonds.
About Coats Rose, P.C.
Coats Rose is a transaction and litigation law firm focused on development: the development of real estate, affordable housing, special purpose districts, 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, affordable housing and community development, public finance, construction/surety law, commercial litigation, government relations, intellectual property, mergers and acquisitions, securities law and tax. We cultivate long term client relationships and help clients to achieve their business aims.