The main objective of the firm is to provide clients the caliber of legal proficiency that enables those clients to borrow money on the most favorable terms, consistent with market conditions at the time of borrowing.

        Because of its large number of attorneys able to handle all facets of public finance and its long history of service in the field, Foley & Judell can provide, among other services:

•  Information on economic conditions; money markets; supply and demand for debt securities; federal fiscal/monetary policies; scheduled bond sales, prevailing interest rates

•  Counseling and advice in connection with structuring of bond issues, the drafting and submission of all required proceedings, documents and forms

•  Processing of applications for approval of bonds and elections by state boards

•  Assisting general counsel in handling litigation affecting the legality of bonds and/or methods of financing

•  Assisting with preparation of detailed, comprehensive official statements; furnishing information to national rating services and municipal underwriters for evaluation

•  Supervising the printing of bonds and their execution by officials of the issuer

•  Rendering an opinion on validity and tax-exempt status of bonds; preparing a complete transcript of record covering the issuance of bonds; furnishing the transcript to bond purchasers and issuers

        In addition to these services, the firm serves as legal consultant to public boards and state and local agencies in connection with new financing programs.  If enabling legislation is required, the firm also prepares legislation and supervises its progress through the legislature.

        As underwriter's counsel, the firm from time to time provides services to a number of investment banking firms on financing for projects throughout the United States.  These have included housing, hospitals, equipment leasings, and the like.

        Foley & Judell has available specialists who are experienced in federal tax matters under Section 103 of the Internal Revenue Code related to the qualification of bonds as tax-exempt obligations; arbi­trage provisions of the Code; federal securities law, including disclosure stan­dards for public financings; registration requirements; Municipal Securities Rulem­aking Board rules; and state blue sky and legal investment laws.  The firm's opinions are regularly accepted by major investment houses and investment banking syndicates in New York, Chicago, and other financial centers.

Tax department; computer capability

        Foley & Judell has a tax department capable of handling the tax aspects related to tax-exempt bond issues.  Foley & Judell's bond counsel opinion on tax-exempt bond issues covers every aspect of state and federal tax law.

        Since the arbitrage rebate regulations were first made applicable to industrial revenue bonds in 1984, Foley & Judell has advised its clients as to procedures and strategies for complying with the rebate requirements and, where possible, for avoiding arbitrage rebate.  Prior to the release of the rebate regulations, Foley & Judell developed a method for calculating rebate on floating and fixed rate industrial development bonds.  Since the arbitrage rebate regulations became applicable to governmental bonds on September 1, 1986, Foley & Judell has continually advised its governmental clients as to the proper steps and procedures that need to be taken in order to comply with the rebate rules, as well as other arbitrage regulations.

    After the initial details of the rebate regulations were released in February, 1989, Foley & Judell developed computer software for calculating arbitrage rebate.  This software has been updated and refined to reflect subsequent revisions to the regulations.  Furthermore, Foley & Judell has in-house staff whose principal responsibility is arbitrage rebate compliance.

        Foley & Judell has the most up-to date and sophisticated spreadsheet software available on the market, which is used by our in-house programmers to design the analysis necessary for all types of bond-related matters including arbitrage-related cash flow analyses.  Using our in-house staff and rebate computer software, Foley & Judell has prepared arbitrage rebate analyses for a number of our clients, including the Louisiana Recovery District, the Greater New Orleans Expressway Commission, the Audubon Park Commission and the City of Slidell.  Additionally, the firm has assisted other clients in setting up rebate calculation procedures for their own computer systems, including the City of New Orleans and the City of Alexandria.  The rebate calculation for the Louisiana Recovery District was extremely complex, involving the computation of yield on variable rate bonds, the application of special rules for different types of credit enhancement payments, and the existence of numerous funds subject to rebate.

Firm experience in municipal finance, constitutional law, tax law, securities law, real estate law, commercial law and bankruptcy law

        The concentration of Foley & Judell in public finance allows the individual members of the firm to focus on discrete areas of public finance.  For example, Foley & Judell has attorneys who specialize in private activity bonds, hospital bonds, bonds for non-profit entities, housing bonds, governmental purpose bonds, and those who specialize in federal tax matters, together with all aspects of constitutional law, tax law, securities law, real estate law and commercial and bankruptcy law applicable to such areas. 

Selection of Foley & Judell as bond counsel for a transaction does not constitute the selection of one attorney skilled in matters of public finance nor the selection of a few attorneys within the public finance section of a multipurpose firm, but constitutes the selection of a firm proven over time to be totally dedicated to providing expert and specialized legal services of the highest quality in the area of public finance and in the other areas of law applicable to public finance.

        One member of the firm is a former Assistant Attorney General who served as Chief of the Public Finance Section and in such position was often called upon to rule on the constitutionality of public finance transactions and matters of the public fisc.

Other legal or financial advisory services provided by Foley & Judell, L. L. P.

        Foley & Judell performs comprehensive legal and coordinate professional services as bond counsel and, additionally, provides advice when requested, including assisting local counsel on any bond-related matter and analyzing solicited and unsolicited proposals for new financings.

             The records and employees of Fiscal Services, Inc. are available to the firm and its clients.  Fiscal Services, Inc. has been in existence for more than 30 years and during that time has prepared the majority of the official statements issued in connection with bond issues in the State as well as several out-of-state issues.  It maintains records of all debt issues in the State including records of debt service requirements on outstanding bond issues, sales tax collections, ad valorem tax levies, assessed valuation and audits of major issuers.  To its knowledge, a more complete collection of such financial information does not exist anywhere else.  Like the law firm, its staff is engaged exclusively in the field of public finance.  Such financial advisory services of Fiscal Services, Inc. as the political subdivision might request is available on a cost basis.

Experience in the development of comprehensive plans for capital improvement projects and infrastructure development

        Foley & Judell has been the sole advisor to most of the major communities in the State in connection with the planning and structuring of programs for capital improvement financings.  The firm has provided legal and professional services on a continuing basis for most of the municipalities in the State with populations of ten thousand or more.

        Such work has included comprehensive planning and structuring of capital improvement projects and infrastructure development programs utilizing general obligation bonds, sales tax revenue bonds, royalty road fund bonds, utility revenue bonds, limited tax and assessment financings, and other methods of finance.  Some of the notable, larger capital acquisition and improvement programs for which the firm has assisted in planning and developing have been for the cities of Shreveport, Bossier City, New Orleans, Lafayette, Alexandria, Bogalusa, Covington, the parishes of St. Charles, Terrebonne, Natchitoches and the Lafayette Public Power Authority.  Many of these involved the use of multiple types of security such as ad valorem taxes, sales taxes, utilities revenues, front foot assessments, and revenues from contracts.  Many required restructuring of debt and elimination of underlying district debt with the objective of minimizing taxes or service charges.

Minority participation in the firm

        Foley & Judell has nine partners.  Two of the partners are women and one is an African-American. 

        Foley & Judell is committed to affirmative action and equal opportunity employment, as reflected in the composition of the partnership.  The firm has always attempted to employ persons based on their qualifications, talents and expertise, regardless of sex, race, age, national origin or religious affiliation.

Experience in working with the Louisiana Legislature and drafting public finance measures for consideration

        Each year the firm's attorneys draft or assist in the drafting of numerous bills for consideration by the Legislature, covering various areas relating to public finance.  In addition to assisting particular clients, the firm's attorneys have also drafted legislation on behalf of the Louisiana Municipal Association and the Louisiana Police Jury Association in the area of public finance.  In fact, the firm has been involved in some manner in nearly all of Louisiana's bond laws and regularly assists local governments in the passage of legislation affecting them by attending committee hearings of the Legislature and providing technical input for legislators.

Martindale-Hubbell Law Directory rating

        Foley & Judell is assigned the highest rating of "av" in the Martindale-Hubbell Law Directory.  The "a" constitutes a legal ability rating of very high.  The "v" constitutes a general recom­menda­tion rating of very high and embraces faith­ful adherence to ethical standards, professional reli­ability and diligence, and other relevant factors.