What is the role of Bond Counsel in a financing process?

The role of Bond Counsel in a financing process is to provide legal opinions on bond issuance. This is a critical responsibility because Bond Counsel ensures that the bonds being issued comply with applicable laws and regulations, as well as with federal tax requirements. Their legal opinions offer assurances to investors that the bonds are valid and legally binding obligations of the issuer. This service is essential in fostering trust and confidence among investors, which can ultimately affect the marketability and interest rates of the bonds sold.

Bond Counsel also plays a crucial role in assessing the structure of the bond in relation to state and local laws, evaluating the legality of financing structures, and addressing any legal issues that may arise in the bond issuance process. By fulfilling this function, Bond Counsel helps to mitigate risks for municipalities and other governments seeking funding through bond sales.