2016 Highlights

• $1.057 Billion MTA Hudson Yards Issuance

Represented the Metropolitan Transportation Authority (MTA) as co-bond counsel for the issuance of their $1,057,430,000 Hudson Rail Yards Trust Obligations, Series 2016A in September 2016. The obligations will finance transit and commuter projects of the affiliates and subsidiaries of the MTA and are secured by ground lease payments from tenant buildings located in the Hudson Yards section of Manhattan.

• New York Javits Center Financing

Represented the New York Convention Center Development Corporation (CCDC) as disclosure counsel for their $420,214,153.90 issuance of bonds in September 2016. This issuance was comprised of $193,104,715.20 Senior Lien Revenue Bonds (Hotel Unit Fee Secured), Series 2016A Bonds and $227,109,438.70 Subordinated Lien Revenue Bonds (Hotel Unit Fee Secured), Series 2016B Bonds. This was a complex financing which included the issuance of both Senior and newly authorized Subordinated bonds as part of the same transaction.

• New Lien for Orlando International Airport

Represented Greater Orlando Aviation Authority (GOAA) as co-bond counsel for the first issuance of bonds under a new priority subordinate lien in July 2016. Proceeds from the $76,930,000 issuance were used to repay advances on GOAA’s lines of credit. GOAA operates Orlando International Airport (MCO), serving one of the world’s leading tourism destinations.

• Deal of the Year: LaGuardia Airport Terminal B Public-Private Partnership

Represented the New York Transportation Development Corporation as co-bond counsel for the June 2016 issuance of $2,410,380,000 of tax-exempt and taxable bonds to fund the redevelopment of Terminal B at New York’s LaGuardia Airport. The innovative and novel public-private partnership (P3) was awarded 2016 “Deal of the Year” for the northeast region by the Bond Buyer newspaper and has been cited as a replicable model for other P3 airport projects worldwide.

• $400,000,000 Commercial Paper Program for Miami-Dade County

Represented Miami-Dade County (County) as bond counsel for the establishment of a new commercial paper program for its Water and Sewer System in May 2016. The program allows the County the flexibility to issue up to $400 million of commercial paper notes as taxable or tax-exempt and under letters of credit from two different banks and utilizing two dealers for either or both types of notes.

• Phillip and Patricia Frost Museum of Science Financing

Represented Miami-Dade County (County) as bond counsel for its April 2016 issuance of $47,280,000 of bonds to complete construction of the Phillip and Patricia Frost Museum of Science in Miami. The bonds were issued as a direct bank placement under a new junior lien on the County’s CDT program, which is secured by the County’s hotel taxes.

• MTA’s First Issuance of Green Bonds

Represented the Metropolitan Transportation Authority (MTA) as co-bond counsel for the issuance of their first ever “Green Bonds” in February 2016. The $782,520,000 of bonds were certified by Climate Bonds Initiative, an international not-for-profit organization that supports financing for projects around the world that help reduce the impacts of climate change. The bonds were used to fund infrastructure renewal and upgrade projects on New York City Transit, Long Island Rail Road and Metro-North Railroad. Since this initial financing, DSA has worked on several additional Green Bond issuances for MTA.