Southeast Watch: BeltLine TADs Close, Bond Buyer

Bond Buyer, November 6, 2008

Atlanta has closed on a private placement of $64.5 million of tax allocation district bonds for its ambitious BeltLine project. Speaking on the scaled-back offering, Hunton & Williams LLP partner Doug Selby said, "The deal that the city struck was for a Libor plus 3% rate index. The thinking is this is an interim financing until the market settles down."

The bonds have an optional put feature that can be exercised on or after July 1, 2009, while other maturities run through December 2031. The bonds were unrated.

Bond lawyer Doug Selby is resident in the Atlanta office of Hunton & Williams LLP. His practice focuses on public finance, including serving as bond and underwriters' counsel for government and private activity bonds, and corporate representation of governmental authorities as outside general counsel. He also serves as Hiring Partner for the Atlanta office.