Bond Financing for 501 c3 Organizations

Bond Financing for 501 c3 Organizations - Webcast

August 2011

Bond Financing for § 501(c)(3) Organizations - LIVE WEBCAST

For more information on viewing the webcast please click on this link. http://www.cba-cle.org/webcast_tips.html

Program Description:

This program will serve as an overview of tax-favored financing vehicles available for 501(c)(3) organizations, with a particular emphasis on tax-exempt bonds. The program's target audience is counsel to 501(c)(3) organizations. Items that will be addressed include:

- 501(c)(3) bonds: an overview of Code Section 145.

- Potential issuers of qualified 501(c)(3) bonds in Colorado.

- Private activity bond tests as applied to qualified 501(c)(3) bonds.

- Arbitrage: yield restriction, rebate, and exceptions.

- Public approval requirements.

- Finance structuring considerations (including structuring issues to comply with Code Sections 147 and 149).

- Overview of tax credit and direct pay subsidy bonds.

- The use of multistate issuers for your nonprofit clients.

Presented by Larry L. Carlie, Frederic H. Marienthal, and Darren C. McHugh

Agenda:

11:30 am - 12:00 pm Registration

12:00 pm - 1:00 pm Program

About the Faculty:

Larry L. Carlile, Esq.

Kutak Rock LLP

Larry L. Carlile is a partner in the Denver office of Kutak Rock LLP who concentrates his practice in the financial transactions permitted by Sections 54A through 54F and 54AA, 103, 141 through 150, 1400N, and 1400U of the Internal Revenue Code of 1986 and related tax issues. He has many years of experience in the legal review and structuring of numerous types of public financings, including Colorado district financings; district financings in other states; single- and multi-family housing issues; higher education and student loan financings; hospital financings; major infrastructure and prepaid energy projects; water utility issues; public electric power issues; a wide variety of other major municipal facilities financings such as airports, docks, and wharves; industrial development and pollution control bond issues; equipment and other asset pool financings; cash flow deficit financings; advance refunding and escrow swap transactions; combination new market tax credit and bond financings; tax credit bonds and Build America Bonds. In addition, he has assisted clients with arbitrage, refundings, computer-based financial structuring and analysis of bond issuances, issuer post-issuance compliance, and IRS bond issuance audits, ruling requests, and the IRS voluntary compliance program. Mr. Carlile has also been an active participant in numerous seminars and lecture programs in public finance and tax for the American Bar Association (ABA) and the National Association of Bond Lawyers (NABL). Finally, he has served as former chair, Task Force on Arbitrage Rebate Rules for the Tax Exempt Financing Committee of the ABA Section of Taxation, past chair of Arbitrage/Tax Seminar for NABL, and past chair of Housing Finance Task Force within the ABA Tax Section, Committee on Tax-Exempt Finance. He is licensed to practice in Colorado and Nebraska.

Mr. Carlile received his B.S. with highest honors from the University of Kansas in 1970, and his J.D. from the University of Chicago in 1975.

Frederic H. Marienthal, Esq.

Kutak Rock LLP

Frederic H. Marienthal is a partner in Kutak Rock LLP's Denver office. Fred focuses his practice on higher education facility financings, conduit private activity bonds, nonprofit facility financings and single-family mortgage revenue bonds. He routinely serves as bond, disclosure, and underwriter's counsel on tax-exempt bond financings for public and nonprofit colleges and universities, charter and independent schools, and charitable organizations. In addition, Fred is the chair of the firm's federal multicandidate political action committee and has represented an array of issuers and financial institutions before various state legislatures and federal agencies. Fred also serves as a board member for the Colorado Municipal Bond Supervision Advisory Board, Kitchen Sisters Productions, Thistle Communities, and Public Media Company, and as chair of the Community Board of Friends' School in Boulder, Colorado. He is a frequent writer and presenter on topics related to public finance.

Fred received his B.A. with distinction from the University of Arizona in 1977, his M.A. in public administration from the University of Colorado in 1979, and his J.D. from the University of Denver College of Law in 1982. He is admitted to practice in Colorado and New York, and is a member of the American, Colorado, and Denver bar associations, as well as the National Association of Bond Lawyers. Fred has been with Kutak Rock for more than 28 years.

Darren C. McHugh, Esq.
Kutak Rock LLP

Darren McHugh is an associate in Kutak Rock LLP's Denver office. He conducts a full-time federal tax practice advising clients on matters related to the federal tax treatment of municipal debt instruments. Mr. McHugh has been involved in the federal tax analysis of a wide variety of financings, including financings for cities, counties, states, improvement districts, higher education institutions, 501(c)(3) organizations, and tax-exempt private activity bonds. These financings include cash flow, new money, and refunding transactions. He works frequently with issuers of tax credit bonds and Build America Bonds.

Mr. McHugh received his B.A. in 2005 from the University of Northern Colorado and his J.D. from the University of Denver Sturm College of Law, Order of St. Ives, in 2008. He is a member of the American and Colorado bar associations and the National Association of Bond Lawyers. He is admitted to practice in Colorado.