The Climaco Firm practices actively in the area of public finance and has served as bond counsel, underwriters' counsel, issuer's counsel and company counsel in a wide variety of municipal and state bond and note transactions and other financings which total approximately $6 billion dollars.
Click Here to download a copy of our Government Law and Public Finance brochure, which includes a listing of the tax-exempt and taxable financings in which the Firm has acted as bond counsel or represented government issuers, underwriters or conduit borrowers since 2000.
The Firm has been recognized nationally as bond counsel in the Bond Buyer's Municipal Marketplace since 1979. In recent years, the Firm has represented such issuers as the State of Ohio, Ohio Turnpike Commission, the County of Cuyahoga, Ohio, the Cleveland-Cuyahoga County Port Authority and Gateway Economic Development Corporation of Greater Cleveland. CLPW&G has also served as bond counsel or underwriters' counsel in other public financings, including bond issues by the Ohio Water Development Authority, Ohio Building Authority, Cuyahoga County, the City of Cleveland, the Cleveland-Cuyahoga County Port Authority, Montgomery County, Ohio, the City of Parma, Ohio, the City of Cleveland Heights, Ohio, City of Dayton and the Dayton-Montgomery County Port Authority.
The most recent transactions for which the Firm has acted as Bond Counsel on tax-exempt issues include the State of Ohio and Cuyahoga County. The Firm acted as Bond Counsel for the State of Ohio – Office of the Treasurer $140 Million General Obligation Highway Capital Improvement Bonds, Series L, in 2008. This assignment came through appointment by the Ohio Attorney General. In December of 2008 the Firm acted as Bond Counsel for the County of Cuyahoga, Ohio on its $70 Million General Obligation Capital Improvement Bond Anticipation Notes.
The Firm has acted as counsel for the Cleveland-Cuyahoga County Port Authority (the "Authority") for over 50 bond transactions, including the Rock and Roll Hall of Fame, over $350,000,000 in financings for expansions at the Cleveland Clinic, the $37,503,380 financing for the Applied Industrial Technologies, Inc., fka Bearings, Inc. world headquarters project, over $60,000,000 for the new Avery-Dennison headquarters project and $90,000,000 for the Cleveland Art Museum. In all, the Firm has participated in over 50 transactions involving over $1.7 billion in new investment in the state. The Firm currently represents the Authority as its outside general counsel and participated in establishing the Authority's bond fund program which is used to promote economic development within the Authority's jurisdiction, including the financings for Jergens, Inc., NOACA, ISG (now Mittal Steel), Heidtman Steel, the new Cleveland Cavaliers Practice Facility and a new manufacturing facility for Brush Wellman. Since 2005, CLPW&G has acted as Bond Counsel for the Authority's bond fund program. The Firm, as the Authority's counsel, also successfully negotiated the purchase of the C&P Ore Docks from Conrail, including the structuring of a $6.5 million public financing for the acquisition.
Climaco has acted as bond counsel for the City of Parma on numerous debt issues over the past decade. In 1995, the Firm acted as bond and disclosure counsel for a $8,620,000 multi-purpose bond issue by the City of Parma. The Firm also acted as Bond Counsel for $12,000,000 in Municipal Facility Improvement Bonds for the City's new municipal justice center and a $2,300,000 industrial park. In addition, CLPW&G in 2006 acted as Bond Counsel for the $8,700,000 issue for new municipal improvements, including two new fire stations. In addition to acting as bond counsel in numerous bond and note issuances by the City of Parma, the Firm has and continues to represent the City of Parma in special assessment proceedings for street lighting, sidewalks and sewers.
The Firm has served as Issuer's Counsel in the extensive finances involving the expansion of the Ohio Turnpike through creation of the Third Lane, new plazas and interchange expansions for the Ohio Turnpike Commission involving over $1 billion in investments in that facility. CLPW&G has also served as Issuer's Counsel for the State of Ohio in various infrastructure bond financings totaling over $500 million. As part of its role in that capacity, the Firm served as Issuer's counsel for the first variable rate financing issued by the State of Ohio. In 2008, the firm acted as Bond Counsel on the State; $140 million Highway Improvement General Obligation Bond issue.The Climaco Firm has experience as Bond and Underwriter's Counsel for the City of Cleveland in various transactions and Underwriter's Counsel for Cuyahoga County. Currently the firm is acting as Bond Counsel for the County and has prepared the County's two most recent Annual Information Statements in connection with Notes and Bonds of the County. CLPW&G was also appointed by the Attorney General to act as Bond Counsel for Kent State University in 2007. The Firm also has considerable experience in conduit financings and other economic development tools used by governmental entities. The Firm has acted as company counsel and underwriters' counsel in several Ohio Enterprise Bond Fund bond issuances. In addition, the Firm has assisted the City of Parma in creating an Ohio Enterprise Zone and negotiating a tax abatement agreement with an enterprise and a revenue sharing agreement with the Parma Board of Education. Finally, the Firm acted as pro bono bond counsel in a complex conduit issue by the Village of Bratenahl which benefited the Parents' Volunteer Association for Retarded Children and Adults ("PVA"). The PVA financing consisted of a two part $2,056,000 issuance of tax exempt Ohio Hospital Facilities Revenue Notes, the proceeds of which financed the construction, renovation and equipping of group home facilities located in five different municipalities. In order to successfully complete the PVA financing, the Firm had to draft legislation for and obtain the separate legislative approval of each of the five different municipalities.