The Essentials 2025

The premier foundational conference for bond attorneys and other municipal market participants new to areas of bond law; hosted in Kansas City, MO on May 14 – May 16, 2025.

Substitutions and cancellations are permitted when requested in writing by Wednesday, April 23rd, 2025, 12:00 AM ET. Any requests received after April 23rd may be subject to a cancellation fee. No refunds will be granted after May 9, 2025. Please email all requests to [email protected].
When
5/14/2025 - 5/16/2025
Where
Kansas City Marriott Downtown 200 West 12th Street Kansas City, MO 64105
Registration
Online registration is closed. Please email [email protected] for availability requests.

Registration Instructions

  1. Login to your NABL account.
  2. Click the “Register Myself” button.
  3. Select your Registration Option(s).
  4. Click "Proceed to Checkout" where you will be redirected to the shopping cart page. Enter your payment information and click “Submit Order.”
  5. An order confirmation will appear on the screen and be emailed to the address of the account. NABL On-Demand registrants will receive instructions on how to access their purchased event via email.

Program

A. General Sessions

Description
Attendees will be provided with an overview of the conference and previews of what to expect over the 2.5 day conference.
Track
A. General Sessions
Time
12:00 PM - 12:15 PM
5/14/2025 12:00 PM
This session will cover the central structural elements, documentation, and financial aspects of a municipal bond transaction.
Track
A. General Sessions
Time
12:15 PM - 2:15 PM
5/14/2025 12:15 PM
Introduction to federal tax laws governing municipal bonds.
Track
A. General Sessions
Time
2:45 PM - 4:15 PM
5/14/2025 2:45 PM
This session will address federal securities laws applicable to municipal bonds.
Track
A. General Sessions
Time
4:30 PM - 6:00 PM
5/14/2025 4:30 PM

B. Breakout Session 1

Description
Overview of the private activity bond rules applicable to tax-exempt municipal bond transactions.
Track
B. Breakout Session 1
Time
8:30 AM - 9:45 AM
5/15/2025 8:30 AM
Overview of the role of and expectations imposed on underwriter’s counsel in a municipal bond transaction.
Track
B. Breakout Session 1
Time
8:30 AM - 9:45 AM
5/15/2025 8:30 AM
Discussion of common state law issues that need to be addressed throughout the structuring of a municipal bond transaction and related disclosure issues.
Track
B. Breakout Session 1
Time
8:30 AM - 9:45 AM
5/15/2025 8:30 AM

C. Breakout Session 2

Description
Overview of general arbitrage concepts, arbitrage rebate requirements, and the application of the various exceptions to the arbitrage rebate rules.
Track
C. Breakout Session 2
Time
10:15 AM - 11:30 AM
5/15/2025 10:15 AM
Introduction to state law creation of and limitations on conduit bond issuers, the roles of counsel, multi-state issuers, and many other issues unique to conduit bond issues.  Overview of the rules applicable to qualified small issue bonds, including qualifying projects, prohibited and restricted uses and maximum amounts, and the rules relating to qualified exempt facility bonds.
Track
C. Breakout Session 2
Time
10:15 AM - 11:30 AM
5/15/2025 10:15 AM
Introduction to and discussion of the underwriting process, including all aspects of structuring the deal through taking the municipal bonds to market.
Track
C. Breakout Session 2
Time
10:15 AM - 11:30 AM
5/15/2025 10:15 AM

D. Lunch Session: Federal Advocacy 101

Description
We all know the pithy Schoolhouse Rock version of how a bill becomes law. Now join our Chief Policy Officer, Brian Egan, for a deeper dive into how ideas become law, the federal rulemaking and comment process, how and why NABL advocates for sensible public finance policy, and (most importantly) how you can get involved.
Not CLE eligible.
Track
D. Lunch Session: Federal Advocacy 101
Time
12:15 PM - 12:45 PM
5/15/2025 12:15 PM

E. Breakout Session 3

Description
Introduction to the tax requirements applicable to the issuance of 501(c)(3) bonds, including ownership and use requirements and issues specific to hospital, residential housing, and school financings as well as commonly used financing structures.
Track
E. Breakout Session 3
Time
1:00 PM - 2:15 PM
5/15/2025 1:00 PM
Introduction to the legal and tax aspects of refundings and the core tax concepts of a reissuance.
Track
E. Breakout Session 3
Time
1:00 PM - 2:15 PM
5/15/2025 1:00 PM
Overview of the role of, responsibilities and expectations imposed on issuer's counsel in a municipal bond transaction.
Track
E. Breakout Session 3
Time
1:00 PM - 2:15 PM
5/15/2025 1:00 PM

F. Breakout Session 4

Description
An overview of the logistics of closing a bond transaction, including drafting of various closing papers, preparing the Form 8038G or 8038, and DTC’s role prior to, during, and after a bond closing.
Track
F. Breakout Session 4
Time
2:45 PM - 4:00 PM
5/15/2025 2:45 PM
Overview of certain transactions that do not fit typical structures but are common such as leases, installment payment contracts, pool programs, certificates of participation and others.
Track
F. Breakout Session 4
Time
2:45 PM - 4:00 PM
5/15/2025 2:45 PM
Discussion of hypotheticals that involve the application of certain federal tax laws relating to refundings, including the repeal of tax-exempt advance refundings, as well as reissuance.
Track
F. Breakout Session 4
Time
2:45 PM - 4:00 PM
5/15/2025 2:45 PM

G. Breakout Session 5

Description
Discussion of best practices for emerging bond lawyers for professional and practice development including an overview of the Depository Trust Corporation (DTC) and its functional role in municipal bond transactions.
Track
G. Breakout Session 5
Time
4:30 PM - 5:45 PM
5/15/2025 4:30 PM

H. Breakout Session 6

Description
Discussion of hypotheticals that involve the application of certain federal tax laws relating to arbitrage rebate and the exceptions to the arbitrage rebate.
Track
H. Breakout Session 6
Time
8:30 AM - 9:45 AM
5/16/2025 8:30 AM
Discussion of hypotheticals that involve the application of certain private activity bond rules to tax-exempt municipal bond transactions.
Track
H. Breakout Session 6
Time
8:30 AM - 9:45 AM
5/16/2025 8:30 AM
Overview of the due diligence process with which practitioners should be familiar in municipal bond transactions and practical guidance for preparing disclosure documents.
Track
H. Breakout Session 6
Time
8:30 AM - 9:45 AM
5/16/2025 8:30 AM

I. Ethics Session

Description
This session will address, in an interactive format, some of the ethical and practical issues related to legal representations in municipal finance, including: engagement letters, delivery of opinions and conflicts of interest, and a discussion of applicable ABA Model Rules of Professional Conduct. This session is anticipated to qualify for CLE ethics credit.
Track
I. Ethics Session
Time
10:15 AM - 11:30 AM
5/16/2025 10:15 AM

J. Closing Session

Description
The Essentials concludes with a fourth General Session entitled “Tying It All Together.” This popular session takes attendees through a typical bond issue - from the initial client call to closing - using an interactive, informal platform that incorporates concepts from across the General Sessions and breakout sessions. Panelists play the roles of issuer, underwriter, bond attorney, and tax attorney as they navigate through a bond transaction from start to finish. Along the way, they encounter, explain, and resolve issues typically encountered in public finance transactions.
Track
J. Closing Session
Time
12:00 PM - 1:15 PM
5/16/2025 12:00 PM

K. Dinner with Faculty and Attendees

Description
Enjoy dinner at one of Kansas City’s vibrant dining establishments with faculty members and your fellow attendees. NABL will make reservations for those who express interest, though you will pay for your own meal. Sign-up sheets will be provided on-site near NABL’s Check-in Desk. 
Add this item to your schedule if you intend on participating.
Track
K. Dinner with Faculty and Attendees
Time
6:30 PM - 8:30 PM
5/15/2025 6:30 PM

L. Welcome Reception

Description
Join The Essentials faculty and your colleagues for complimentary drinks and appetizers during this excellent networking opportunity.
Track
L. Welcome Reception
Time
6:15 PM - 7:15 PM
5/14/2025 6:15 PM

M. Textbook (Optional - $200 Attendee Price)

Description
Optional: 2025 Fundamentals of Municipal Bond Law Textbook - Discounted $200 price for attendees only.
Please Note: The 2025 Fundamentals of Municipal Bond Law textbook will be shipped about three to four weeks after The Essentials.
Track
M. Textbook (Optional - $200 Attendee Price)
5/30/2025