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NABL U Presents: The Essentials

When
4/24/2019 - 4/26/2019
Where
The Westin Chicago River North 320 Dearborn Street Chicago, IL 60654
To add CLE information click on the + symbol.

Program

   

A. Fundamentals of Municipal Bond Law Book

 
Optional: Fundamentals of Municipal Bond Law Book - (Discounted $200 price for attendees only. The Book will be shipped after the Essentials.)
Track
A. Fundamentals of Municipal Bond Law Book
4/27/2019

B. Structuring & Financial Aspects

 
This will discuss the central structural elements, documentation, and financial aspects of a municipal bond transaction.
Track
B. Structuring & Financial Aspects
Time
2:00 PM - 4:00 PM
4/24/2019 2:00 PM

C. General Tax Law

 
This will cover federal tax laws governing municipal bonds.
Track
C. General Tax Law
Time
4:15 PM - 5:45 PM
4/24/2019 4:15 PM

D. General Securities Law

 
This will address federal securities laws instrumental to municipal bonds.
Track
D. General Securities Law
Time
8:15 AM - 10:00 AM
4/25/2019 8:15 AM

E. Tying-It-All-Together

 
General

This closing 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 Target 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
E. Tying-It-All-Together
Time
11:15 AM - 12:30 PM
4/26/2019 11:15 AM

F. Optional Bonus Sessions

 
For those in-house lawyers or practitioners with an issuers counsel focus, this bonus session focuses exclusively on issues, topics, and other matters relating to issuers counsel. Lunch will be provided
Track
F. Optional Bonus Sessions
Time
11:30 AM - 1:00 PM
4/25/2019 11:30 AM

Bring a lunch and enjoy a discussion with tips and helpful advice on succeeding at the business of a public finance practice.
Track
F. Optional Bonus Sessions
Time
12:00 PM - 1:00 PM
4/25/2019 12:00 PM

Bring a lunch and enjoy a discussion with tips and helpful advice on succeeding at the business of a public finance practice. Example: Avoiding Private Activity (Tax)
Track
F. Optional Bonus Sessions
Time
12:00 PM - 1:00 PM
4/25/2019 12:00 PM

G. Target Sessions 1

 
Tax

Overview of the private activity bond rules applicable to tax-exempt municipal bond transactions.
Track
G. Target Sessions 1
Time
10:15 AM - 11:15 AM
4/25/2019 10:15 AM

Securities

Discussion of direct purchases (private placements) by banks of bonds, including why issuers want this product, why banks provide this product, documentation requirements, and associated securities law issues.
Track
G. Target Sessions 1
Time
10:15 AM - 11:30 AM
4/25/2019 10:15 AM

General

This new panel covers the essentials any lawyer must be aware of when facing a troubled financing postclosing. We will explain transactional tools utilized in the early stages of a distressed situation • such as waivers and forbearance agreements. This panel will cover the state law and bond mechanics at work as the distressed debt situation continues, including: rights and remedies of holders and how financing structures, bond insurance, bond mechanics, and elements of state law that can greatly dictate or limit enforcement of remedies. The discussion ultimately covers the relevant mechanics of bankruptcy law when early efforts are unsuccessful.
Track
G. Target Sessions 1
Time
10:15 AM - 11:30 AM
4/25/2019 10:15 AM

Securities

Overview of the role and expectations imposed on underwriter’s counsel in a municipal bond transaction.
Track
G. Target Sessions 1
Time
10:15 AM - 11:30 AM
4/25/2019 10:15 AM

Securities

In-depth discussion and overview of the underwriting process, including all aspects of structuring the deal through taking the municipal bonds to market.
Track
G. Target Sessions 1
Time
10:15 AM - 11:30 AM
4/25/2019 10:15 AM

H. Target Sessions 2

 
Tax

Overview of general arbitrage concepts, arbitrage rebate requirements, and the use of the various exceptions to the arbitrage rebate rules.
Track
H. Target Sessions 2
Time
1:15 PM - 2:30 PM
4/25/2019 1:15 PM

General

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
H. Target Sessions 2
Time
1:15 PM - 2:30 PM
4/25/2019 1:15 PM

Tax

Introduction to the rules 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
H. Target Sessions 2
Time
1:15 PM - 2:30 PM
4/25/2019 1:15 PM

General

Discussion of common state law issues that need to be addressed throughout the structuring of a municipal bond transaction and related disclosure issues.
Track
H. Target Sessions 2
Time
1:15 PM - 2:30 PM
4/25/2019 1:15 PM

Securities

Overview of the role and expectations imposed on underwriter’s counsel in a municipal bond transaction.
Track
H. Target Sessions 2
Time
1:15 PM - 2:30 PM
4/25/2019 1:15 PM

I. Target Sessions 3

 
Securities

Discussion of direct purchases (private placements) by banks of bonds, including why issuers want this product, why banks provide this product, documentation requirements, and associated securities law issues.
Track
I. Target Sessions 3
Time
2:45 PM - 4:00 PM
4/25/2019 2:45 PM

Tax

Overview of IRS enforcement of taxexempt municipal bonds, including compliance questionnaires, voluntary closing agreement programs (“VCAP”), and audits. A look into how the IRS is organized, what is “guidance” from the IRS and how is it issued, how to get a private letter ruling, how to participate in VCAP, rights and remedies of issuers of tax-exempt municipal bonds in the event of an audit, and other issues related to IRS enforcement requirements.
Track
I. Target Sessions 3
Time
2:45 PM - 4:00 PM
4/25/2019 2:45 PM

Securities

Overview of the due diligence process with which practitioners should be familiar in municipal bond transactions and provide practical guidance for preparing disclosure documents.
Track
I. Target Sessions 3
Time
2:45 PM - 4:00 PM
4/25/2019 2:45 PM

Tax

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
I. Target Sessions 3
Time
2:45 PM - 4:00 PM
4/25/2019 2:45 PM

Tax

Introduction to the legal and tax aspects of refundings and the core tax concepts of a reissuance.
Track
I. Target Sessions 3
Time
2:45 PM - 4:00 PM
4/25/2019 2:45 PM

J. Target Sessions 4

 
Tax

Discussion of hypotheticals that involve the application of certain private activity bond rules applicable to tax-exempt municipal bond transactions.
Track
J. Target Sessions 4
Time
4:15 PM - 5:30 PM
4/25/2019 4:15 PM

General

An overview of the logistics of closing a bond transaction, including drafting of various closing papers, preparing the Form 8038, and DTC’s role prior to, during, and after a bond closing.
Track
J. Target Sessions 4
Time
4:15 PM - 5:30 PM
4/25/2019 4:15 PM

General

Introduction to state law creation of and limitations on conduit bond issuers, the roles of counsel, multi-state issuers, and many other issues peculiar to conduit bond issues.
Track
J. Target Sessions 4
Time
4:15 PM - 5:30 PM
4/25/2019 4:15 PM

General

Overview of those transactions that just do not fit typical structures but are common such as leases, installment payment contracts, pool programs, and others.
Track
J. Target Sessions 4
Time
4:15 PM - 5:30 PM
4/25/2019 4:15 PM

Securities

In-depth discussion and overview of the underwriting process, including all aspects of structuring the deal through taking the municipal bonds to market.
Track
J. Target Sessions 4
Time
4:15 PM - 5:30 PM
4/25/2019 4:15 PM

K. Target Sessions 5

 
General

An overview of the logistics of closing a bond transaction, including drafting of various closing papers, preparing the Form 8038, and DTC’s role prior to, during, and after a bond closing.
Track
K. Target Sessions 5
Time
8:15 AM - 9:30 AM
4/26/2019 8:15 AM

General

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
K. Target Sessions 5
Time
8:15 AM - 9:30 AM
4/26/2019 8:15 AM

Securities

Overview of the due diligence process with which practitioners should be familiar in municipal bond transactions and provide practical guidance for preparing disclosure documents.
Track
K. Target Sessions 5
Time
8:15 AM - 9:30 AM
4/26/2019 8:15 AM

Tax

Discussion of hypotheticals that involve the application of certain federal tax laws relating to refundings, including the recent repeal of tax-exempt advance refundings as well as reissuance.
Track
K. Target Sessions 5
Time
8:15 AM - 9:30 AM
4/26/2019 8:15 AM

General

Discussion of hypotheticals that involve the application of certain common state law issues that need to be addressed throughout the structuring of a municipal bond transaction and related disclosure issues.
Track
K. Target Sessions 5
Time
8:15 AM - 9:30 AM
4/26/2019 8:15 AM

L. Target Sessions 6

 
Tax

Discussion of hypotheticals that involve the application of certain federal tax laws relating to arbitrage rebate rules and the exceptions to these rules.
Track
L. Target Sessions 6
Time
9:45 AM - 11:00 AM
4/26/2019 9:45 AM

General

This new panel covers the essentials any lawyer must be aware of when facing a troubled financing post-closing. We will explain transactional tools utilized in the early stages of a distressed situation • such as waivers and forbearance agreements. This panel will cover the state law and bond mechanics at work as the distressed debt situation continues, including: rights and remedies of holders and how financing structures, bond insurance, bond mechanics, and elements of state law that can greatly dictate or limit enforcement of remedies. The discussion ultimately covers the relevant mechanics of bankruptcy law when early efforts are unsuccessful.
Track
L. Target Sessions 6
Time
9:45 AM - 11:00 AM
4/26/2019 9:45 AM

Tax

Overview of IRS enforcement of tax-exempt municipal bonds, including compliance questionnaires, voluntary closing agreement programs (“VCAP”), and audits. A look into how the IRS is organized, what is “guidance” from the IRS and how is it issued, how to get a private letter ruling, how to participate in VCAP, rights and remedies of issuers of tax-exempt municipal bonds in the event of an audit, and other issues related to IRS enforcement requirements.
Track
L. Target Sessions 6
Time
9:45 AM - 11:00 AM
4/26/2019 9:45 AM

Tax

Introduction to the rules 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
L. Target Sessions 6
Time
9:45 AM - 11:00 AM
4/26/2019 9:45 AM

Join MSRB staff to review MSRB rules and demonstrate EMMA tools that are essential for serving municipal market clients.
Track
L. Target Sessions 6
Time
9:45 AM - 11:00 AM
4/26/2019 9:45 AM

M. Receptions

 
Eat, drink, and relax with faculty and new colleagues and friends at this reception.
Track
M. Receptions
Time
6:00 PM - 7:00 PM
4/24/2019 6:00 PM

Eat, drink, and relax with faculty and new colleagues and friends at this reception sponsored by the NABL Diversity Committee.
Track
M. Receptions
Time
5:45 PM - 6:45 PM
4/25/2019 5:45 PM