We have wide-ranging experience structuring financings for higher education institutions, including both public and private universities. We have served as bond and/or underwriters’ counsel in the financing of a variety of capital projects, including academic buildings, classroom facilities, student housing, student centers, athletic facilities and parking facilities.
For public universities, we have structured these financings in a variety of ways, including both as non-recourse project financings and as financings secured by a variety of repayment sources, including tax receipts, general obligation, general revenue and auxiliary facilities revenue. We have worked with higher educational institutions of all sizes, ranging from The Ohio State University, the University of Louisville and Northern Illinois University to Caspar Community College. We also serve as bond counsel to all of the state universities throughout the Commonwealth of Kentucky.
For private universities, we have worked with a variety of faith-based and non-sectarian institutions, tailoring our strategy to fit the unique needs of each client. We frequently draw upon our knowledge and analysis of the complex First Amendment issues that address the separation of church and state, which is essential in determining whether a debt issue for a faith-based school can be accomplished on a tax-exempt basis. We also remain diligent in researching evolving state laws and state constitutional issues, which can impact bond issuance procedures. Among the private higher educational institutions we have served are Lincoln Memorial University, Marietta College, Emmanuel College of Religion, St. Catharine College and Northwest Nazarene University.