School Board Finance Law
The firm has represented and currently represents numerous local school districts in connection with their school capital finance programs. As part of that representation, McManimon & Scotland, L.L.C. provides advice as to various alternative methods of finance available to local school districts including the issuance of general obligation bonds and/or notes, lease purchase financing, capital financing on a current basis, the issuance by an Authority of revenue bonds secured by the credit of the issuer and the current or advance refunding of outstanding debt. In addition to local schools districts, the firm has represented numerous educational services commissions throughout New Jersey in connection with capital financing and lease purchase financings, including the Hunterdon County Educational Services Commission, the Monmouth-Ocean Educational Services Commission, the Sussex County Educational Services Commission, the Union County Educational Services and the Morris- Union Jointure Commission. Partner Andrea Kahn participated in the drafting of legislation concerning the educational service commissions.
The attorneys in the School Board practice were pioneers in the development of local school lease purchase transactions in New Jersey as an alternative to traditional bond financing and participated in the drafting of several bills to facilitate transactions involving school capital leases. McManimon & Scotland, L.L.C. attorneys have commented on and continue to comment on the regulations promulgated by the State Department of Education on all aspects of the Educational Facilities Construction and Financing Act and on the recent regulations promulgated by S1701 (P.L. 2004, c.74).
McManimon
& Scotland, L.L.C. attorneys have written and lectured extensively throughout
New Jersey on various aspects of school finance including frequent lectures
for the New Jersey School Board's Association, the New Jersey Association
for School Business Officials and the New Jersey Association of School Administrators
at their Fall and Spring workshops. Our articles on leasing, bonding and
tax topics have appeared in issues of the School Leader, the Keypost and
other publications.
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© 2007 McManimon & Scotland, L.L.C.
