Winstead public finance attorneys serve as general counsel and bond counsel to special districts providing water, sewer, drainage, roadway and transportation infrastructure for master-planned developments, commercial developments and mixed-use developments, including the following types of districts:
- Municipal utility districts (MUD)
- Municipal management districts (MMD)
- Fresh water supply districts (FWSD)
- Water control and improvement districts (WCID)
- Other improvement districts
Winstead attorneys represent clients for the creation of districts before the TCEQ or county commissioners’ court and are experienced at the creation of MUDs and MMDs by special act of the Texas Legislature. Winstead attorneys were instrumental in formulating the template for legislative MMDs and are experienced in the creation of MMDs for both residential and commercial purposes with specific powers to suit the intended development of the property.
Winstead also represents clients for the creation of PIDs and financing PID authorized improvements, including:
- Serving as developer’s counsel on the formation of public improvement districts and the issuance of PID bonds for single and multiphase developments.
- Representation of underwriters on novel PID and district financing mechanisms relating to monetization of PID reimbursements and tax increment reinvestment zone revenue for development projects in Texas including major mixed use developments featuring commercial, single family, apartment, senior condos, retail and hotel, as well as multi-jurisdictional development secured by two PID assessments levied in the respective jurisdictions.
- Representation of cities and districts as bond counsel on multiple PID issuances, including the first “Phase #2” PID bond financing in the State of Texas, the first addition of lands to a PID with bonds issued, a first-impression refunding, restructuring and new money bond issuance involving overlaid PID assessments and extended PID assessment maturities, and the first utility bond issuance by an MMD using the PID statute.
Winstead serves many roles in district financings, including:
- District Counsel – Ongoing legal services for the creation and operation of MUDs, MMDs, FWSDs, WCIDs and other special districts (including drafting and negotiating contracts, coordinating/running board meetings, holding elections, etc.)
- Bond Counsel – Serving as bond counsel to special districts or the cities/counties issuing bonds via PID, including assessment revenue bonds issued by an MMD
- Underwriter’s Counsel – Representation of the leading underwriters of PID bonds to draft prospectus to be delivered to investors
- Developer’s Counsel – Represent developers and landowners for special district/PID formation, representation of developers for PID bond issuances, negotiation of incentives from city/county
- Legislative Counsel – Representation of landowners to draft legislation relating to the creation of MMDs and MUDs before the Texas Legislature, as well as the drafting of legislation regarding general law districts and PIDs
- Regulatory Services – Working with TCEQ and PUC on regulatory and CCN matters