If your answer to any of these questions is “yes,” The Essentials is the conference for YOU! It’s specifically designed to cover all core elements of public finance law and practice. It is ideal for attorneys, paralegals, government officials and employees, broker-dealers, financial advisors, trustees, and other market participants.This conference is open to anyone, so you do not need to be a NABL member to attend. Repeat attendees are strongly encouraged to sign-up. In fact, repeat participants report substantial benefit from multiple years of this conference.
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Fundamentals of Municipal Bond Law Book; $200
(Discounted price for attendees only. The book will be shipped after The Essentials.)
Registration cancellations must be received in WRITING via fax, email at firstname.lastname@example.org, or mail per the dates listed on the chart below. Substitutions of attendees are permitted up to the first day of The Essentials.
Following the General Sessions, participants may select up to 16 Target Sessions – each focused on a particular area of public finance. These build upon the foundation established in the three earlier General Sessions.
Of particular interest to returning attendees, the “Real World Examples” Target Sessions apply the law to hypothetical fact patterns designed to address current issues commonly faced by bond lawyers. These sessions foster learning in a practical manner with interactive dialogue between panelists and attendees.
Attendees may participate in all sessions covering a single topic in order to gain an in-depth understanding of one area, or they can attend sessions on a variety of topics for a broader education. The Essentials is designed so attendees can create their own learning experience to gain the depth or breadth of understanding they desire.
Arbitrage & Rebate
Overview of general arbitrage concepts, arbitrage rebate requirements, and the use of the various exceptions to the arbitrage rebate rules.
Arbitrage & Rebate (Real World Examples)
Discussion of hypotheticals that involve the application of certain federal tax laws relating to arbitrage rebate rules and the exceptions to these rules.
Avoiding Private Activity
Overview of the private activity bond rules applicable to tax-exempt municipal bond transactions.
Avoiding Private Activity (Real World Examples)
Discussion of hypotheticals that involve the application of certain private activity bond rules applicable to tax-exempt municipal bond transactions.
IRS Issues & Enforcement
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.
Qualified 501(c)(3) Bonds
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.
Qualified Small Issue & Exempt Facility Bonds
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.
Refunding & Reissuance
Introduction to the legal and tax aspects of refundings and the core tax concepts of a reissuance.
Refunding & Reissuance (Real World Examples)
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.
Bank Direct Purchases
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.
Practical Due Diligence/ Drafting the Disclosure Document
Overview of the due diligence process with which practitioners should be familiar in municipal bond transactions and provide practical guidance for preparing disclosure documents.
The Role of Underwriter’s Counsel
Overview of the role and expectations imposed on underwriter’s counsel in a municipal bond transaction.
Underwriting: Behind the Scenes
In-depth discussion and overview of the underwriting process, including all aspects of structuring the deal through taking the municipal bonds to market.
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.
Conduit Issues & Issuers 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.
Conduit Issues and Issuers
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
Deal Gone Bad
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.
Ethics for Bond Attorneys 101
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.
Leases & Other Non-Traditional Financing
Overview of those transactions that just do not fit typical structures but are common such as leases, installment payment contracts, pool programs, and others. State Law Issues Discussion of common state law issues that need to be addressed throughout the structuring of a municipal bond transaction and related disclosure issues.
State Law Issues (Real World Examples)
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.
The Essentials kicks off with three General Sessions to which all participants attend. The General Sessions provide a framework and general overview of the municipal finance field. Attendees then choose from 16 Target Sessions which build upon concepts and practice areas covered throughout the General Sessions. A final General Session ties together all of the concepts and walks attendees through a typical bond issue.
This opening General Session will discuss the central structural elements, documentation, and financial aspects of a municipal bond transaction.
This General Session will cover federal tax laws governing municipal bonds.
This General Session will address the federal securities laws instrumental to municipal bonds.
This final General 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.
Ice Miller LLP
Ken R. Artin
Bryant Miller Olive P.A.
Tyler J. Kalachnik
Ice Miller LLP
Barbara League, VICE CHAIR
Orrick, Herrington &
Luisella P. McBride
Miles & Stockbridge P.C.
Stradling Yocca Carlson &
Victoria N. Ozimek
Keisha S. Palmer
Robinson & Cole LLP
Tim A. Stratton
Gust Rosenfeld P.L.C.
Glenn E. Weinstein
Pugh, Jones & Johnson, P.C.
Sani A. Williams
Squire Patton Boggs LLP
New York, NY
The Essentials is expected to offer CLE credit up to a total of 15 hours in states with a 60-minute CLE hour and up to a total of 18 hours in states with a 50 minute CLE hour. Included in the total hours is one 75-minute session for which ethics/professionalism credit will be sought. Few programs offer this much CLE credit through sessions geared specifically to-ward the municipal finance lawyer. NABL will apply for CLE credits from those states that have mandatory CLE requirements. Attendees should include applicable MCLE states and identifying numbers on their registration forms.
Wednesday, April 24, 6:00pm – 7:00pm
Sponsored by the NABL Diversity Committee
Thursday, April 25, 5:45pm – 6:45pm
Eat, drink, and relax with faculty and new colleagues and friends at these receptions.
Wednesday, April 24, 7:30pm – 9:00pm
Enjoy dinner at one of Chicago’s fine dining establishments in the trendy River North area with a faculty member and a handful of other attendees. Sign-up sheets will identify the faculty member, their region and area of specialty, and the restaurant, so you can select what best suits your interests. Sign-up sheets will be provided on-site near NABL’s Check-in Desk, and registration is on a first-come, first- served basis.
Achieving Success at Your Practice
Thursday, April 25, 12:00pm – 1:00pm
Issuer's Counsel Session
Thursday, April 25, 11:30am – 1:00pm
For those in-house lawyers or practitioners with an issuer’s counsel focus, this bonus session focuses exclusively on issues, topics, and other matters relating to issuer’s counsel. Lunch is provided for this session. Registration is required and seating is limited.
Thursday, April 25, 6:30am – 7:30am
Begin the day exploring beautiful downtown Chicago on a run with new friends and colleagues. There is no fee to participate - just bring your running shoes! Plan to meet in the hotel's main lobby at 6:15 a.m. Runners of ALL levels are welcome.
Time to exercise the right side of your brain. Attendees will be challenged to submit a poem or haiku using specific terms and concepts learned over the course of the conference. Rules and the format for this optional challenge will be distributed on Wednesday. Submissions will be received throughout the conference. The winner will be announced during Friday afternoon’s “Tying-it-All-Together” General Session and will receive a $250 cash prize.
Back by popular demand is the Social Wall. Located near NABL’s Check-in Desk, attendees can use the Social Wall to tweet and post photos of your favorite activities using #2019NABLESSENTIALS.
Download the mobile app to find other attendees at the conference, set your schedule, and view session outlines and PowerPoints. The app will be available to download to your iPhone, iPad, or Android. Search for NABL Events on the Apple Store or Google Play Store. More details on how to download and use the app will be emailed to attendees the week before the conference. Make sure you download the app before you arrive in Chicago.
The Essentials schedule recognizes the many demands on attendees and provides regularly scheduled breaks throughout the day to check voicemail and e-mail. The conference concludes at 12:30 p.m. on Friday.
Attire throughout the conference is business casual.
All registrants will receive a printed program book containing an outline for each session as well as an electronic version of NABL’s reference manual, Fundamentals of Municipal Bond Law, containing valuable reference material on tax, securities and other laws applicable to municipal finance. A printed version of the book is available for a discounted price. Registrants may also request a complimentary copy of their choice of the LexisNexis Federal Taxation of Municipal Bonds Deskbook (valued at $233) or Federal Securities Laws of Municipal Bonds Deskbook (valued at $175).
The Westin Chicago River North
Click here to view hotel website. Click here to make a reservation.
The venue for The Essentials is The Westin Chicago River North, located on Chicago’s scenic Riverwalk and walking distance to the theater district, trendy restaurants and shopping.
A limited block of guestrooms is being held at this hotel for attendees on April 24 and 25, 2019. The group guestroom rate is $219 per night single/double occupancy, which includes complimentary internet service in each guestroom and daily access to the WestinWORKOUT® Fitness Studio.
The hotel reservation deadline is Tuesday, April 2, 2019. Please call 888-627-8359 and mention the National Association of Bond Lawyers to receive the $219 group rate or click here to make your reservation online.
A one-night nonrefundable deposit will be charged to your credit card at time of reservation, and an early departure fee will apply to guests that check in to the hotel and decide to leave early. Please ensure your reservation arrival and departure dates are correct prior to checking into the hotel. Check in is at 4:00 p.m. and check-out is at noon.