Banks and other financial institutions may provide letters of credit, bond purchase agreements, guaranties or other credit facilities to secure governmental bonds.
Bank counsel may be engaged by the credit provider to:
- Advise the credit provider about the financing;
- Advocate the credit provider's interests in the financing;
- Render an objective legal opinion regarding authorization, execution and delivery of the letter of credit, bond purchase agreement, guaranty or other credit facility; and
- In a default, advise the credit provider on the exercise of its rights and remedies.
Barnes & Thornburg LLP has served as bank counsel to local, regional and national banks and other financial institutions in a variety of bond financing.