Bonds and Securities

INDUSTRIAL REVENUE BONDS AND
METROPOLITAN REDEVELOPMENT BONDS

Industrial revenue bonds (IRBs) can be used for a wide variety of commercial projects, and can be structured in several different ways: as taxable or tax-exempt financings, or solely for the purpose of providing state and local tax exemptions, independent of the actual project financing.

We have extensive experience with all types of IRBs, including those issued as qualified private activity bonds on behalf of 501(c)(3) health care providers. We offer clients comprehensive legal services concerning IRB transactions, including due diligence analysis, drafting of necessary documentation, preparation of disclosure documents, application for private activity bond allocations, consultation with investment advisers and underwriters, advice on controlling costs, strategies for avoiding or limiting political difficulties, and issuance of legal opinions required to close such transactions.

Metropolitan Redevelopment Bonds (MRBs) can be used in connection with various types of commercial and manufacturing projects. Those projects may include nursing home facilities and residential or apartment facilities on a taxable or a tax-exempt basis, depending upon whether certain requirements of the Internal Revenue Code for tax exemption can be met. Redevelopment projects can be financed with MRBs subject to a determination that the project is located in a declared metropolitan redevelopment area under the Metropolitan Redevelopment Code. MRBs also may be issued to obtain certain state and local tax exemptions which are available under current law, independent of the actual project financing.

The Rodey Law Firm has a long history of working with the Metropolitan Redevelopment Code and issuance of MRBs for the benefit of non-governmental project users. We can provide clients with all legal services necessary to proceed with redevelopment projects financed with metropolitan redevelopment bonds, from document drafting to working with governmental entities to obtaining final approval of such projects and issuance of the bonds.

We are listed as recognized bond counsel in the current edition of The Bond Buyer's Municipal Marketplace Directory ("Red Book").

MUNICIPAL BONDS

The Rodey Law Firm has extensive experience regarding the issuance of tax-exempt governmental obligations including general obligation bonds and tax-backed revenue bonds, project revenue bonds that are limited obligations of a governmental entity, and special assessment district bonds payable from special levies assessed against property owners.

We provide advice and assistance in all aspects of governmental bond issuance, such as:

	Preparing appropriate election resolutions and other materials
	Preparation of bond ordinances and other documentation evidencing official action
	Drafting or assisting in the drafting of offering circulars in connection with private placements or the public sale of governmental obligations
	Advice to municipalities and counties, and coordination with financial advisers and underwriters as to the legal structure of such transactions
	Issuance of approving opinions

Rodey is listed in the Spring 2003 edition of "The Bond Buyer’s Municipal Marketplace (the "Red Book") under "Municipal Bond Attorneys." We are currently working with clients interested in organizing Public Improvement Districts ("PIDs") under newly adopted legislation enacted as Chapter 305 of the New Mexico Laws of 2001. If properly organized, a PID is authorized by this legislation to issue general obligation, project revenue and special levy bonds for the purpose of financing infrastructure improvements consistent with the general plan for the PID.

SECURITIES

Technology companies, commercial enterprises and industrial businesses have come to Rodey for help in the issuance of securities to provide working capital for developmental stage companies. Our lawyers have substantial experience preparing disclosure documents for transactions that would qualify for an exemption under Regulation D and exemptions under state or blue sky securities laws. We have assisted 1934 Act reporting and non-reporting companies with proxy solicitations and disputes. We also have experience establishing qualified and non-qualified stock option plans and have worked closely with broker-dealers on compliance matters arising under New Mexico and federal securities law.