Coats Rose, P.C. Represents Developer in Novel Public Infrastructure Financing

HOUSTON – March 1, 2024 – Coats Rose Attorneys, Timothy Green and Emily Forswall, represented the developer in the underwriting of $43,729,250.40 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 by three (3) separate municipal utility districts (“MUDs”) to finance public infrastructure constructed by the developer within these MUDs.

The PFA Bonds were issued at a 7.00% interest rate payable at maturity (2031), or earlier 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.

Emily Forswall specializes in the representation of special purpose districts and in public finance.  She acts as underwriter’s counsel, bond counsel, and general counsel relative to the issuance of bonds by MUDs and PIDs.


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.  We cultivate long term client relationships and help clients to achieve their business aims.



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