Post-Issuance Compliance Workshop

Webinar | November.03.2022 - November.04.2022

Virgin Hotels Nashville and Virtual

JOIN BLX AND ORRICK AT THE POST-ISSUANCE COMPLIANCE WORKSHOP

A Comprehensive Overview of Post-Issuance Tax Law and SEC Secondary Market Disclosure for 501(c)(3) Organizations and State and Local Government Issuers Who Utilize Tax-Exempt Financing

Virgin Hotels Nashville and Virtual - November 3-4, 2022

The 2022 Post-Issuance Compliance Workshop will have dedicated sessions on the following topics:

Post-Issuance Compliance Basics
Private Business Use (PBU) Rules and Regulations
Sponsored Research – IRS Rules and Safe Harbors
Management Contracts – IRS Rules and Safe Harbors
Rising Interest Rates: Issuing Bonds and Bond Proceeds Reinvestment – NEW SESSION
How to Calculate PBU and Utilizing Qualified Equity to Minimize PBU
PBU Calculations – Beyond Compliance – NEW SESSION
2021 IRS Schedule K Review
IRS Enforcement and Audits Update
Borrower Perspective – Our Post-Issuance Compliance Program
Continuing Disclosure and SEC Rule 15c2-12
Managing Arbitrage Compliance

For session descriptions, a listing of all speakers, and to register, please visit our website: 2022 PIC Workshop.

The workshop will be a hybrid event, with limited in-person attendance and a livestream option. In-person attendance will be limited to 50 attendees. The livestream option will make available all content on a virtual platform with the ability for participants to interact with the presenters and with other attendees throughout the workshop. Both the in-person and livestream options will allow participants to replay any of the sessions for up to 30 days after the event.

IF you are a nonprofit organization that borrows on a tax-exempt basis or are a tax-exempt bond issuer, you should attend.

IF you need a comprehensive overview of post-issuance compliance, you should attend.

IF you are looking for CPE or CLE credits, you should attend.

Orrick Participants

Richard Chirls
Robyn Helmlinger
Barbara Jane League
Jenna Magan
Ed Oswald
Aviva Roth
Larry Sobel

BLX Group LLC is a subsidiary of Orrick, Herrington & Sutcliffe LLP. BLX does not provide legal services.

For additional information or questions on the workshop, please contact:

Cynthia Sixtos at [email protected] or +1 213 612 2207

For information on other services provided by BLX, please visit our website: blxgroup.com

CLE Credits Available: Y

1 Music Square W Nashville TN

1 Music Square W
Nashville, TN 37203
United States

Contacts

Richard Chirls Partner, Tax

New York

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D:+1 212 506 5250
E: [email protected]

Practice:

Finance Sector
Tax

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Richard Chirls Partner

New York

With more than 30 years of experience, Richard is widely recognized as one of the nation’s foremost authorities, having broad experience with tax exempt financings and related transactions involving governmental and not-for-profit entities. His skill and stature in the public finance community was recognized by the National Association of Bond Lawyers’ highest award for his career of distinguished service in public finance.

Richard focuses on new products, including the development of new and creative financing techniques for governments, non-profits and investment bankers. He regularly works on transactions throughout the country. However, in his home office in New York City, he leads the relationship with the Port Authority of New York and New Jersey, serving as counsel on well over 100 transactions over a period of more than 20 years and has headed the tax work in connection with every financing of a cultural facility relating to museums and performing arts in New York City over this same period. Richard has worked on the tax aspects of several of the largest and most complex public private partnership (P3) transactions in recent years. He frequently acts as special tax counsel to issuers and underwriters of municipal finance issues.

Robyn L Helmlinger Partner, Public Finance, Health Care Finance

San Francisco

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D:+1 415 773 5925
E: [email protected]

Practice:

Finance Sector
Public Finance
Health Care Finance

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Robyn L Helmlinger Partner

San Francisco

Robyn regularly works with both established borrowers and first-time borrowers to assist with structuring and restructuring debt programs that encompass a wide variety of debt and derivative products. In 2015, Robyn led the team that represented a private fund in connection with financing the management transfer of a multi-hospital nonprofit healthcare system to a subsidiary of the private fund, including negotiations with existing creditors. The financing involved an innovative bond structure that balanced current and future committed liquidity needs and debt burden. Robyn is also continually recognized for her excellent and sound judgment with respect to disclosure issues, including the difficult disclosure decisions caused by financial pressures from healthcare reform, affiliation activities, pension liabilities, governmental inquiries and investigations, labor disputes and qualified audit opinions.

In 2013, Robyn was elected a Fellow of the American College of Bond Counsel. She is one of the founding members of the Northern California Chapter of Women in Public Finance and currently serves on its advisory board. As a member of the National Association of Bond Lawyers, Robyn has been a panelist on the Health Care Financing Panel at the annual conference in 2003, 2004 and 2006. She is also a member of the American Health Lawyers Association.

Barbara Jane League Partner, Public Finance, Tax

Houston; Austin

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D:+1 713 658 6786
E: [email protected]

Practice:

Finance Sector
Public Finance
Tax

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Barbara Jane League Partner

Houston; Austin

She also has significant experience representing nonprofit organizations. Formerly an attorney with the Chief Counsel of the Internal Revenue Service, Barbara has represented clients before the IRS in a variety of matters involving tax-exempt bonds, including audits and private letter ruling requests. She has participated in all facets of the tax analysis associated with the issuance of governmental purpose bonds, certain tax credit bonds, qualified 501(c)(3) bonds, qualified residential rental bonds and qualified small issue bonds.

Barbara has served on the Steering Committee and has chaired the Working Capital panel and the Bond Direct Purchase - Advanced Tax Topics panel for the Bond Attorneys’ Workshop, the oldest and largest annual gathering of bond lawyers.

Jenna Magan Partner, Public Finance

Sacramento

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D:+1 916 329 7980
E: [email protected]

Practice:

Finance Sector
Public Finance

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Jenna Magan Partner

Sacramento

Jenna has worked on all structures available in public finance, including fixed and variable, tax-exempt and taxable, insured, letter of credit and liquidity supported bonds, conversions, tenders, exchanges, restructurings and reofferings, senior/subordinate, capital appreciation and convertible capital appreciation bonds, securitizations, project finance, direct purchases, bank-qualified transactions and 144A and Section 4a2 offerings.

Jenna's practice focuses on the following areas, in which she has acted as bond, borrower’s, disclosure, underwriter's, and bank/direct purchaser’s counsel:

Healthcare, Senior Living and Other 501(c)(3) Financings
Local Government Lease, Enterprise (Water, Wastewater, Airport, Solid Waste), Pension Obligation and Short-Term Financings
State of California Bond Financings
Project Financings
Tobacco Securitization Financings
Post-Issuance Compliance

Edwin Oswald Partner, Tax

Washington, D.C.

See my bio

D:+1 202 339 8438
E: [email protected]

Practice:

Finance Sector
Tax

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Edwin Oswald Partner

Washington, D.C.

His practice also includes advising on post-issuance tax compliance matters including working with non-profit borrowers of tax-exempt bonds on new IRS Schedule K annual reporting matters.

He served in the Office of Tax Legislative Counsel at U.S .Treasury Department, where he developed policy, legislative initiatives and regulations affecting public finance and structured finance.

Aviva M. Roth Senior Career Associate, Tax

Washington, D.C.

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D:+1 202 339 8636
E: [email protected]

Practice:

Finance Sector
Tax

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Aviva M. Roth Senior Career Associate

Washington, D.C.

Aviva has experience in governmental and exempt facility bonds, including general governmental facilities, 501(c)(3) bonds, tobacco asset securitizations, capital funds financing, arbitrage and post-issuance compliance relating to private use issues.

Prior to joining Orrick, she was a docket attorney at the Internal Revenue Service Office of Chief Counsel where she drafted regulations, notices and private letter rulings.

Larry Sobel Partner, Tax

Los Angeles; Houston

See my bio

D:+1 213 612 2421
E: [email protected]

Practice:

Finance Sector
Tax

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Larry Sobel Partner

Los Angeles; Houston

As both bond counsel and underwriter’s counsel, he has been responsible for structuring and analyzing the tax aspects of many tax-exempt financings throughout the country.

Larry has extensive experience in handling IRS audits of bond transactions. He has represented issuers in dozens of audits all of which have ended favorably either with the IRS issuing a “no change” letter or by negotiating a reasonable settlement when needed. Larry also has handled a number of submissions under the IRS’ Voluntary Closing Agreement Program (or VCAP). The two most recent VCAP submissions represented cases of first impression for the IRS; one involving an issue of qualified energy conservation bonds relating to determining the amount of those bonds eligible for the federal subsidy; the other involved the plan to convert a “new money” bond issue into an advance refunding (which did not meet all of the requirements for a tax-exempt advance refunding). Both cases ultimately were resolved on the original terms proposed to the IRS.

Larry has also been instrumental in developing new financing techniques and structures. He first devised the tax structure and analysis for, and has served as tax counsel on, Orrick’s tax exempt tobacco revenue securitizations. He has developed the tax structure on numerous tax-exempt prepayments for natural gas for municipal utilities both within and outside of California.

Related Areas

Public Finance