If you would like to be featured, please contact us! Now, let’s meet Edward Rojas and learn more about his public finance journey:

1. You’ve been in this field for more than four decades, how did you first get involved in practicing public finance and what brought you to NABL?   

I started at Mudge Rose in the 1980s at a time when we had 30 lawyer 103 Tax Departments and were closing a deal a day. Mudge was a national bond firm so if you were in the tax department you did 103 work. Back then our view was that we represented the “deal” as opposed to just the issuer so we were responsible for all aspects of the bonds. The lawyers were the first line in ensuring that tax-exempt bonds were indeed “tax-exempt.”  

It was before the internet, or even at home fax machines, so we commonly stayed at the office after midnight before the pricing for a refunding issue to get the final numbers for sign off. But there was also a great deal of camaraderie among the tax associates that remains to this day – that is why you often see impromptu Mudge reunions at the BAW and are subjected to our war stories.

Rich Nicholls who headed the Tax Department was a big believer in having the tax lawyers attend NABL functions, especially the Bond Attorneys’ Workshop, in order to not only learn from their colleagues at other bond firms but also interact with other tax attorneys and with officials of the IRS and Treasury. Later on, when I was at Brown & Wood, Hank Klaiman who headed the tax department there felt the same.

2. Is there a particular project or deal that stands out as especially meaningful in your career? 

I worked on the bonds to finance the Normandie Court apartments in the mid-1980s which was the first large scale apartment building on the upper-east side of Manhattan on 96^th Street [see picture].  It started the trend of large apartment complexes above 96^th street that continues to this day. 

3. What has been the most valuable aspect of your NABL membership?  

The ability to get a feel for the industry standards in public finance. The 103 practice changes over time and by attending NABL functions you can be apprised of the current trends in bond financings. In addition, it is a great opportunity to meet old friends and also be able to put a face to a voice on the phone. 

4. What’s one piece of advice you wish someone had given you earlier in your career?  

Try and learn not just what the law says but also why it was created and what is the intent behind it. In other words, do not just learn the “law” of public finance but also its “lore.” That will help you interpret the provisions and provide meaningful advice when asked “what do you think?” 

5. What is a fun fact that people might not know about you? 

When the 1986 Tax Act was enacted I drafted a “shotgun” transition rule for a project that was included in the Act. A few weeks later that project was on “60 Minutes” criticising the transition rule was described as one of the most extreme in the Act. Turns out the bonds were never issued.

The NABL Member Spotlight initiative is a volunteer-based program. All featured members participate voluntarily and are selected to highlight their contributions and achievements within our community. Participation in the spotlight does not imply endorsement by NABL. If you would like to be featured, please contact us!