shanahan & shanahan llp
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SHANAHAN & SHANAHAN LLP
Rebecca ShanahanManaging Partner
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BONDS FINANCE CORPORATE & BUSINESS
Bond counsel or underwriter’s counsel services for state and local governments, and business and corporate units.
Helping public entities build and pay for roads, schools, hospitals, museums, fire stations, and others that make up the backbone of this nation.
Business-related areas – corporate law, real estate, tax, business litigation, many areas of government regulation, and aspects of nonprofit representation.
Shanahan & Shanahan LLP is a municipal finance, business and corprate law firm with over 30 years of experience solving complex financial transactions in Illinois and Indiana.
OUR MISSION IS TO PROVIDE THE BEST LEGAL SERVICES THROUGH A CLOSE-WORKING
RELATIONSHIP AND PERSONAL ATTENTION.
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WHO WE ARE
Shanahan & Shanahan LLP is a nationally recognized firm that provides public finance counsel for state and municipal entities with capital need throughout Indiana and Illinois. With a history and philosophy of providing the best legal services through a close-working relationship and personal attention, Shanahan & Shanahan has over 30 years of combined experience and expertise in public finance transactions.
Founded in 2009, Shanahan & Shanahan is a leader in the municipal bond market with a deep understanding and personal ties to each state, making them uniquely qualified to address the financial challenge faced by Indiana and Illinois. A small team of lawyers with a proven track record of developing solutions to complex problems, the firm’s opinion has been accepted by the market on competitively sold bonds, negotiated bonds and privately placed bonds. The firm has been instrumental in drafting state and municipal legislation which include the statute which created the Indiana Bond Bank to serve as a market for bonds issued by Indiana municipalities and a statutory solution to unfunded severance and retirement liabilities faced by Indiana school corporations.
A family affair, Shanahan & Shanahan is comprised of four experienced attorneys licensed to practice in both Indiana and Illinois: Founding partners Rebecca Shanahan and James A. Shanahan, and Associates Jimmy Shanahan and Julie DeMuth.
Rebecca has 30 years of experience serving governmental entities and health care businesses throughout Indiana and Illinois. She is dedicated to seeking innovative and practical solutions to meet all of her clients’ needs.
REBECCA SHANAHANMANAGING PARTNER
OUR TEAM
EDUCATION• Indiana University School of Law
Bloomington, J.D., cum laude (1977)• Indiana University • B.S., magna cum laude (1974)
ADMISSIONS• Indiana• Illinois
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EDUCATION• Indiana University School of Law
Bloomington, J.D., cum laude (1977)• Indiana University • B.S., magna cum laude (1974)
ADMISSIONS• Indiana• Illinois
JAMES A. SHANAHANPARTNER
EDUCATION• Indiana University School of Law
Bloomington, J.D., magna cum laude (1977)• University of Notre Dame
B.B.A., cum laude (1973)
ADMISSIONS• Indiana• Illinois
James A. Shanahan, a co-founding partner of Shanahan & Shanahan LLP, has been involved in municipal finance since 1979. He has served as bond counsel to the State of Indiana and various State issuing entities, the City of Indianapolis and many of its affiliated issuers, the State of Illinois, the City of Chicago, and counties, cities, towns, villages, schools, libraries, park districts, redevelopment districts, sanitary districts and other municipal bond issuers in Indiana and Illainois. He has served as bond counsel on new money deals, refunding deals, combination of new money and refunding deals, and restructuring deals to help the issuers address bad economic experiences. He has acted as underwriter’s counsel, issuer’s counsel, purchaser’s counsel, bank trustee’s counsel and disclosure counsel on numerous deals. Throughout his career, he has been involved in educating and mentoring colleagues and other people interested in this field. He has been a featured speaker at national, state, regional and local education programs for attorneys, elected officials, public employees and combinations of all of those individuals.
OUR TEAM
Jimmy is a seasoned lawyer assisting schools, towns, water and sanitary districts, park districts and counties among other municipalities throughout Indiana and Illinois meet their short and long-term capital needs through tax exempt and taxable financing as bond counsel.
• Indiana University School of Law Bloomington, J.D., (2008)
• Marquette University M.S. Applied Economics (2005)
• Marquette University B.S., magna cum laude, Economics (2004)
ADMISSIONS• Indiana• Illinois
JIMMY SHANAHANASSOCIATE
JULIE DEMUTHASSOCIATE
Julie is an experienced bond counsel for a variety of political subdivisions. She assists Indiana and Illinois municipalities in economic development through various financing methods.
• Indiana University School of Law Bloomington, J.D., (2011)
• Ball State University B.S., magna cum laude, Economics (2004)
ADMISSIONS• Indiana• Illinois
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We are a team that focuses on complex public finance transactions and bring over 30 years of experience to help you find a clear solution specific to your case.
We are committed and dedicated to solving your problems. This means you can reach us any time, because we believe in being flexible and accessible.
We are more than a business relationship. We are your friend. Come rain or shine. You can count on us to be there.
BIG FIRM RESULTS, PERSONALIZED SERVICE
CUSTOMIZED SOLUTIONS, FOCUSED ON YOUR NEEDS
NATIONALLY RECOGNIZED, LOCAL COUNSEL
OUR WAY
RECOGNIZED.FOCUSED.PERSONALIZED.
FORMER & CURRENT CLIENTS
• Lake Central School Corporation
• Lake County, Indiana
• LaPorte Airport Authority
• Village of Lombard, Illinois
• Merrillville Community School Corporation
• Village of Olympia Fields, Illinois
• Valparaiso Community Schools
• Metropolitan School District of Wayne Township
• Lafayette School Corporation
• Village of Bridgeview, Illinois
• Northern Moraine Wastewater Reclamation District
• Evansville Vanderburgh School Corporation
• Des Plaines Park District
• State of Illinois
• Illinois Finance Authority
• City of Chicago, Illinois
• Town of Chesterton, Indiana
• Gary Community School Corporation
• City of Gary, Indiana
• City of Rushville, Indiana
• Village of Glenwood, Illinois
• Greenwood Public Library
• Hammond Bond Bank
• City of Hammond, Indiana
• Blackford County, Indiana
• Town of Highland, Indiana
• Hoffman Estates Park District
• Lafayette School Corporation
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OUR SERVICES
In 2009, Shanahan & Shanahan LLP opened its doors with a family of experienced lawyers dedicated and committed to providing creative solutions to complex financial problems for state and municipal entities throughout Indiana and Illinois. With personal ties and an in-depth understanding of each state, Shanahan & Shanahan LLP is uniquely qualified to address the financial challenges faced by Indiana and Illinois. Managing Partner Rebecca focuses on areas of
business transactions and health care while Founding Partner James focuses on all aspects of municipal finance. Highly active community members, both provide legal counsel to 501(c)3 organizations, private sector corporations and public service institutions. Their proven track record of success has made them a leading firm in public finance transactions and an accepted opinion in the municipal bond market.
BOND COUNSEL
MUNICIPAL FINANCE
PUBLIC & PRIVATE REVENUE
PROGRAMS
CORPORATE & BUSINESS FINANCE
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OUR SERVICES
Shanahan & Shanahan’s opinion has been accepted by the market on competitively sold bonds, negotiated bonds and privately placed bonds. The firm has been instrumental in drafting state and municipal legislation which include the statute which created the Indiana Bond Bank to serve as a market for bonds issued by Indiana municipalities and a statutory solution to unfunded severance and retirement liabilities faced by Indiana school corporations.
A leader in the municipal bond market, Shanahan & Shanahan LLP provides counsel on all aspects of tax-exempt and taxable financings, both short and long-term. We have helped facilitate financing for over 200 clients.
Shanahan & Shanahan handles bond transactions of all sizes issued by state and local government entities and works with you to finance operating expenses, construction and development and other special projects.
The firm’s experienceincludes working with businesses and community organizations that seek to do business with governmental entities (B2B, B2G, G2G), organizations managing public and private revenue programs, and corporate and business transactions for small and middle market companies.
SPECIALTY AREAS
Tax or other revenue anticipation notes and warrants are often issued to assist units in dealing with a delay in receiving anticipated funding
Any new legislation or financing programs
Tax increment bonds transactions and issuance of other economic development obligations issued by counties, cities, towns and villages to promote redevelopment
Special districts that issue general obligation bonds, revenue bonds and other types of debt
Special service financings that enable counties, cities, villages and towns to finance infrastructure improvements necessary to encourage or sustain economic development
CORPORATE & BUSINESS SPECIAL SERVICE AREA
TAX/REVENUE ANTICIPATION NOTES & WARRANTS
CHANGES IN THE PUBLIC FINANCE LANDSCAPE
TAX INCREMENT FINANCINGS
Leases and installment contracts
PUBLIC & PRIVATE REVENUE PROGRAMS
BOND COUNSEL
01 BOND COUNSEL
02 ISSUER’S COUNSEL
03 UNDERWRITER’S COUNSEL
04 BORRROWER’S COUNSEL
05 DISCLOSURE’S COUNSEL
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Shanahan & Shanahan LLP is a leader in the municipal bond market and provides counsel on all aspects of tax-exempt and taxable financings, both short and long-term.
• General Obligation• Alternate Revenue Source• Limited Tax• School• Working Cash• Park District• Special Service Area• Tax Increment Financing• Utility Revenue• Business District• Industrial Development• Economic Development Revenue• Enterprise Zone• New Clean Renewable Energy• Operating & Capital Referenda Counseling
CASE OVERVIEW
Bonds in the amount of $160 million were issued to pay for the cost of constructing a new academic building and auditorium at an existing high school, demolishing a portion of the high school and constructing a new elementary school.
A school district overlapped three different towns. There was trouble reaching a consensus across various factions as to certain details of a major construction project to solve overcrowding and
outdated facilities in the School Corporation. The first attempt at the referendum failed. Given the project costs, approval by vote at referendum was required.
CHALLENGE
BOND COUNSEL
CLIENT
Lake Central School Corporation, Lake County, Indiana
CONSTITUENT/BENEFICIARIES
• Patron’s of the School Corporation• Local taxpayers
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Learn more, visit LawByShanahan.com/casestudies
SOLUTION
Shanahan & Shanahan LLP worked with the School Corporation and the deal team to build a consensus in the community for the final form of the project; to meet the needs of the School Corporation and demands of the taxpayers and patrons of the School Corporation. The team then led the School Corporation through a successful referendum to authorize the bonds.
RESULTS
The School Corporation successfully completed one of the largest school projects in recent history which alleviated dangerous overcrowding, increased community access to the facility and vastly improved the educational environment at the School Corporation. In addition, the tax rate for taxpayers will not exceed the current rate which they are being taxed over the life of the project.
GET IN TOUCH
ILLINOIS 230 W. MONROE STREETSUITE 2620CHICAGO, IL 60606(312) 263- 0607 OFFICE(312) 263-0611 FAX
INDIANA 609 TREYBOURNE DRIVESUITE C GREENWOOD, IN 46142 (317) 881-4881 OFFICE(317) 263-0611 FAX