Public Finance Matters

Home   >   Practice Areas   > Public Finance Matters

PUBLIC FINANCE AND MANAGEMENT SYSTEM

Governments across the globe are grappling with significant fiscal imbalances and systemic financial challenges. Institutions responsible for public finance, including finance ministries, tax and customs agencies, central banks, government lenders, and public pension funds, face mounting pressure to modernize, enhance transparency, and elevate their performance to deliver improved outcomes for citizens.

UNDERSTANDING PUBLIC FINANCE

Public finance encompasses the administration of a country’s revenue, expenditure, and debt management by various government and quasi-government entities. The financial health of a nation can be assessed in a manner akin to the financial accounts of a corporation.

The primary source of government revenue is taxation, which includes taxes such as sales tax, income tax, estate tax, and property tax. Additional revenue sources consist of import fees, tariffs, and funds from non-free public services.

Expenditures denote all government spending on diverse areas, encompassing social services, education, and infrastructure. Most government spending is aimed at redistributing income or wealth in ways that benefit society at large. Actual expenses may vary from the budget.

WHY CHOOSE US?

Our professionals are adept problem-solvers who focus on addressing the unique needs of each client and providing legal solutions tailored to those needs. When clients engage our services for public finance guidance, they benefit not only from the collective knowledge of our public finance team but also from the highly specialized expertise we have cultivated. As a full-service legal firm, our lawyers regularly collaborate to deliver comprehensive solutions.

HOW WE CAN ASSIST

In the issuance and management of tax-exempt bonds in public finance, our attorneys represent issuers, underwriters, borrowers, bondholders, trustees, and other involved parties. Our practice encompasses legal counsel on financial, tax, and general matters.

Apart from drafting and advising on the myriad documents related to bond issuance, our professionals often act on behalf of the issuer, providing legal assurance that the bonds are issued correctly and the associated interest is free from federal, and potentially, state taxes. The issuer retains disclosure counsel, who guides them in fulfilling their disclosure obligations, typically drafting the official statement and ongoing disclosure agreement.

When acquiring a fresh issuance of municipal securities, we represent the underwriter. Our role includes reviewing the issuer’s bond resolution and documentation, ensuring the accuracy and adequacy of disclosure in the official statement, preparing the purchase agreement, and the official statement for bond sale to the underwriter. We assist the underwriter in conducting their due diligence.

Community and economic development initiatives frequently involve public financing transactions. Our professionals possess extensive experience in supporting municipalities, developers, lenders, and other community development partners in various operations, including public finance structures and development incentives such as state and federal tax credits and opportunity zone incentive schemes.

SERVICES UNDER MUNICIPAL LAW

Our specialized municipal law professionals provide guidance on various aspects of city services, business, administration, and regulation. These include:

  1. Interpreting local government legislation and council meeting procedures.
  2. Assisting in statute, bylaw, and amendment drafting.
  3. Defending ordinances in court challenges, general litigation, and regulatory proceedings on behalf of local governments.
  4. Offering support to commercial sector clients in dealings with municipal governments.
  5. Providing legal advice and representation to private sector clients in judicial review proceedings challenging the legality of municipal actions and bylaws.
  6. Assisting local authorities in negotiating and structuring agreements like real estate development agreements and public-private partnerships.
  7. Providing counsel and conducting hearings on land use management and building matters.
  8. Offering guidance on diverse issues, including labor and employment, taxation, insurance, environmental regulation, freedom of information, corporate governance, licensing, intergovernmental relations, and intellectual property challenges.

SUMMARY

The Information Technology Act has established a legislative framework that has not only facilitated digital technology and e-commerce growth in India but has also increased trust, security, and compliance in the digital ecosystem. This framework has benefited businesses by opening up new avenues, streamlining processes, and enhancing user experiences. Privacy is emerging as a vital determinant of a country’s standing in the global digital market and impacting cross-border data flows. Businesses must stay prepared to safeguard data protection interests in this evolving legal landscape. As technology continues to advance, the law must remain dynamic to meet the evolving needs of businesses.

Download Guide

You are welcome to write to us

Need trusted and efficient Public Finance services? 

Engage Us Now

Please feel free to email us on [email protected]