Representative Transactions

Presley Burton & Collier has participated in hundreds of tax-exempt or tax-advantaged transactions in over 30 states. Below is a representative list of deals in which we have participated.

State and Local Government Finance

$8,120,000 Taxable General Obligation Warrants, Build America Bonds, Series 2010-A, issued by Lee County, Alabama
$5,405,000 Correctional Facility Lease Revenue Refunding Warrants, Series 2010, issued by The Public Building Authority of Clarke County, Alabama
$109,775,000 Capital Improvement Refunding Bonds, Series 2010-A, and $70,980,000 Capital Improvement Refunding Bonds, Series 2010-B, issued by Alabama Public School and College Authority
$1,000,000 maximum principal amount Current Revenue Anticipation Note issued by The Board of Education of Clarke County, Alabama
$24,500,000 Local Government Public Improvement Bonds, Series 2009B, $25,000,000 Local Government Public Improvement Bonds, Series 2010A, and $26,100,000 Local Government Public Improvement Bonds, Series 2010B, issued by The Public Building Authority of the City of Sevierville, Tennessee
$7,780,000 Taxable General Obligation Warrants, Series 2010-A, issued by the City of Alabaster, Alabama
$26,095,000 General Obligation School Warrants, Series 2009-A, and $1,525,000 General Obligation Warrants, Series 2009-B, issued by the City of Albertville, Alabama
$6,988,000 Water Revenue Bond, Series 2009, issued by Franklin County (Alabama) Water Service Authority
$2,500,000 General Obligation Warrants, Series 2009, issued by the City of Evergreen, Alabama
$29,165,000 Limited Obligation School Bonds, Series 2007-A, issued by The Butler County (Alabama) Public Education Cooperative District
$47,455,000 General Obligation Warrants, Series 2005, issued by the City of Tuscaloosa, Alabama

Healthcare

$355,000,000 New Jersey Health Care Facilities Financing Authority Revenue Bonds, Princeton HealthCare System, Series 2010
$67,540,000 Revenue Bonds (Infirmary Health System, Inc.), Series 2010-A, and $29,595,000 Revenue Bonds (Infirmary Health System, Inc.), Series 2010-B, issued by Infirmary Health System Special Care Facilities Financing Authority of Mobile (Alabama)
$50,770,000 Wisconsin Health and Educational Facilities Authority Revenue Bonds, Series 2010A (Ministry Health Care, Inc.), $60,000,000 Wisconsin Health and Educational Facilities Authority Revenue Bonds, Series 2010-B (Ministry Health Care, Inc.), and $20,000,000 Wisconsin Health and Educational Facilities Authority Variable Rate Revenue Bonds, Series 2010-C (Ministry Health Care, Inc.)
$44,685,000 Health Facilities Revenue Bonds, Series 2010-B (Shands HealthCare Project), issued by Alachua County Health Facilities Authority (Florida)
$70,000,000 Mississippi Hospital Equipment and Facilities Authority Build America Revenue Bonds, Series 2010 (Forrest County General Hospital Project – Direct Payment – Federally Taxable)
$40,000,000 Notes from The Houston County (Alabama) Health Care Authority to Compass Mortgage Corporation, March 2010
Restructuring of $74,800,000 Hospital Facilities Revenue Bonds, Series 2001-C (University Hospital, Inc.), by Hamilton County, Ohio
$235,000,000 Health Care Facility Revenue Bonds, Children’s Hospital, Series 2009, issued by The Special Care Facilities Financing Authority of the City of Birmingham (Alabama)
$100,000,000 Hospital Facilities Revenue Bonds, Series 2009 (Kettering Health Network Obligated Group Project), issued by Greene County, Ohio
$70,225,000 Series 2009-A Bonds issued by The Health Care Authority of Cullman County (Alabama) (Cullman Regional Medical Center)
$25,000,000 Draw-Down Loan from Compass Mortgage Corporation to The Medical Center Governmental Utility Services Corporation of Birmingham (Alabama), to finance a central energy plant to provide heating and cooling for a new Children’s Hospital facility, July 2009
$200,000,000 Revenue Refunding Bonds (St. Luke’s Episcopal Health System), Series 2008-A and Series 2008-B, issued by Harris County (Texas) Health Facilities Development Corporation
$195,960,000 Variable Rate Demand Health Care Facilities Revenue Refunding Bonds (Novant Health Obligated Group), Series 2008, issued by North Carolina Medical Care Commission
$110,000,000 Bridge Loan by Bank of America, N.A. to The Health Care Authority for Baptist Health, An Affiliate of UAB Health System, July 2008 (Alabama)
$109,925,000 Hospital Revenue Bonds, Series 2008-A, and $109,930,000 Hospital Revenue Bonds, Series 2008-B, issued by The Board of Trustees of The University of Alabama (The University of Alabama at Birmingham)
$150,000,000 Tax-Exempt Commercial Paper Notes, issued by The Health Care Authority of the City of Huntsville (Alabama) June 2008
$27,015,000 Health Care Facilities Bonds, Series 2008-A Bonds and $74,540,000 Health Care Facilities Bonds, Series 2008-B Bonds, issued by The East Alabama Health Care Authority
$84,100,000 Maryland Health and Higher Educational Facilities Authority Commercial Paper Revenue Notes, The Johns Hopkins Health System Issue, Series E, and $84,550,000 Maryland Health and Higher Educational Facilities Authority Commercial Paper Revenue Notes, The Johns Hopkins Health System Issue, Series F, April 2008
$220,000,000 University of Alabama at Birmingham Hospital Revenue Bonds, Series 2008-A Taxable, issued by The Board of Trustees of The University of Alabama
$214,570,000 Series 2007-A Bonds issued by The Health Care Authority of the City of Huntsville (Alabama)
$800,000,000 City of South Miami Health Facilities Authority Hospital Revenue Bonds, Series 2007 (Baptist Health South Florida Obligated Group)
$40,000,000 Revenue Bonds Series 2007-A, issued by The Medical Clinic Board of the City of Birmingham – UAHSF (University of Alabama Health Services Foundation, P.C.)
$94,000,000 Tarrant County (Texas) Cultural Education Facilities Finance Corporation Hospital Revenue Bonds (Valley Baptist Medical Benter – Brownsville Project) Series 2007
$27,535,000 Ad Valorem Tax Bonds, Series 2007-A, issued by The Marshall County (Alabama) Health Care Authority
$110,000,000 City of Middletown, Ohio Hospital Facilities Revenue Bonds, Series 2007 A & B (Middletown Regional Hospital Obligated Group)
$88,335,000 Industrial Development Authority of the City of Winchester (Virginia) Hospital Revenue Bonds (Valley Health System Obligated Group) Series 2007

Public and Private Colleges and Universities

$18,000,000 General Revenue Bonds, The University of Alabama (Taxable Recovery Zone Economic Development Bonds), Series 2010-B, $100,420,000 General Revenue Bonds, The University of Alabama (Taxable Build America Bonds), Series 2010-C, and $31,040,000 General Revenue Bonds, The University of Alabama (Taxable Bonds), Series 2010-D, issued by The Board of Trustees of The University of Alabama
$6,400,000 Lee University Tax-Exempt Lease Financing (Science/Math Building Project), March 2009 (Tennessee)
$97,100,000 The Health and Education Facilities Board of the Metropolitan Government of Nashville and Davidson County, Tennessee Revenue Bonds, The Vanderbilt University, Series 2009-A, and $232,900,000 The Health and Education Facilities Board of the Metropolitan Government of Nashville and Davidson County, Tennessee Revenue Bonds, The Vanderbilt University, Series 2009-B
$11,000,000 Student Housing Revenue Bond (Birmingham-Southern College), Series 2009-A, and $11,100,000 Student Housing Revenue Bond (Birmingham-Southern College), Series 2009-B, issued by Private Colleges and Universities Facilities Authority (Alabama)
$60,880,000 Taxable Note, Series 2008, issued by Pace University (New York)

Other 501(c)(3) Entities

$3,300,000 Bond Purchase Agreement among Regions Equipment Finance Corporation, South Carolina Jobs – Economic Development Authority and Goodwill Industries of Middle Georgia, Inc., and $332,050 Taxable Loan Agreement between Regions Equipment Finance Corporation and Goodwill Industries of Middle Georgia, Inc., October 2010
$16,550,000 Revenue Bond Series 2010-A, issued by The Special Care Facilities Financing Authority of the City of Daphne (Alabama) (Presbyterian Retirement Corporation, Inc.)
$4,487,700 Pinellas County (Florida) Educational Facilities Authority Refunding Revenue Bonds (Admiral Farragut Academy Project), Series 2010
$13,500,000 Mississippi Business Finance Corporation Special Project Revenue Bonds, Series 2009 (Jackson Academy, Inc. Project)
$8,000,000 Special Project Revenue Obligations of The Industrial Development Board of the County of Knox (YMCA of East Tennessee, Inc. Project), March 2009
$220,000,000 Michigan Strategic Fund Adjustable Rate Demand Limited Obligation Revenue and Refunding Revenue Bonds, Series 2008 (Van Andel Research Institute Project)
$4,096,371 Tax-Exempt Lease Financing between Regions Equipment Finance Corporation and Louisiana Local Government Environmental Facilities and Community Development Authority for Brother Martin High School, December 2008
$3,700,000 Tax-Exempt Lease Financing between Regions Equipment Finance Corporation and Brevard County, Florida for East Coast Zoological Society of Florida, Inc., September 2008
$16,000,000 Bridge Loan Credit Facility by Regions Bank for A.W. Brown Fellowship Charter School, October 2008 (Texas)
$1,263,892.64 Tax-Exempt Lease Financing between Regions Equipment Finance Corporation and The Public Park and Recreation Board of the City of Montgomery for Montgomery Area Zoological Society, Inc., (Alabama) September 2008

Economic Development

$85,960,000 Recovery Zone Facility Revenue Bonds, Series 2010-A (SSAB Alabama Inc.) and $75,000,000 Gulf Opportunity Zone Revenue Bonds, Series 2010-B (SSAB Alabama Inc.) issued by The Industrial Development Authority of Mobile County (Alabama)
The Industrial Development Board of the City of Dothan, Alabama, Taxable Adjustable/Fixed Rate Industrial Development Revenue Bonds, Series 1999 (Dunbarton Corporation Project), Substitution of Regions Bank Letter of Credit, April 2010
$28,440,000 Kentucky Economic Development Finance Authority Healthcare Facilities Revenue Bonds (Madonna Manor, Inc. Project), Series 2010

Mergers and Acquisitions

Sale of the assets of The Health Care Authority of Lauderdale County and the City of Florence, Alabama d/b/a Coffee Health Group to RegionalCare Hospital Partners, Inc. (RCHP – Florence, LLC), June 2010
Acquisition of the assets of Woodland Medical Center from National Healthcare of Cullman, Inc. and Cullman County Medical Clinic, Inc. by The Health Care Authority of Cullman County (Alabama), d/b/a Cullman Regional Medical Center, July 2009
Acquisition and leasing of Hospital and issuance of $3,000,000 Series 2006 Note by The Health Care Authority of the City of Eufaula (Alabama)
Acquisition of HealthSouth Medical Center assets by The Board of Trustees of The University of Alabama, The Health Care Authority for Southside, An Affiliate of UAB Health System, April 2006
Acquisition of Baptist Health System, Inc.’s membership interest in Cullman Regional Medical Center, Inc. (“CRMC”) by CRMC, termination of management agreement and termination of credit support between the parties, November 2005 (Alabama)
Affiliation between UAB Health System and Baptist Health, including formation of health care authority to be governed by joint board of directors and transfer of Baptist Health assets to newly-formed health care authority, July 2005 (Alabama)

Derivatives

Counsel to investment bank nationwide in connection with swap programs with numerous nonprofit and governmental healthcare providers and higher education institutions
Counsel to swap provider in total return swap transaction and fixed payer swap relating to hospital revenue bonds for a healthcare system in Montana
Counsel to multi-state healthcare system in establishing master swap agreements with numerous investment banks and other swap providers
Counsel to investment bank swap provider in rate lock swap transaction with hospital
Counsel to investment bank in exercise of a swaption with medical center

Defaulted Transactions

Assisted healthcare entity with negotiated sale of facilities after covenant defaults and financial distress
Assisted healthcare facility in negotiations with bond insurer of waiver agreement and in complying with continuing disclosure requirements after covenant defaults
Advised creditor regarding intercreditor agreement, additional security documents and waiver agreement after covenant defaults by borrower
Advised trustee in work-out of municipal default