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Cabrera鈥檚 Public Finance group has had the privilege to serve numerous state and local governments in the sale of general obligation bonds.

General obligation bonds are typically the most secure type of municipal bond usually enjoying the 鈥渇ull faith and credit鈥� pledge of the issuer.听 Determining the capacity a government has the sell general obligation bonds can be difficult because in addition to financial and legal constraints, often the sale of these bonds is impacted by political constraints as they are often paid with the proceeds of property taxes.

Cabrera鈥檚 role is to assist our issuing clients by providing them the information they need to determine the size of a potential issue as well as the timing of the sale.

Whether in the role of senior manager, working closely with the issuer to structure the financing, manage the working group and direct the sales and marketing effort, or as a co-manager where we focus on procuring orders at the time of sale, Cabrera鈥檚 pubic finance team is motivated to provide superior service to our clients.

Revenue-generating credits such as municipal water or wastewater infrastructure have become some of the most highly-rated of municipal bonds due to their essential nature and their price inelasticity.听 Because revenue credits most often provide the investor with protections such as rate covenants and additional bonds tests, it is Cabrera鈥檚 job to calculate and work within the capacity constraints of the credit.听 This is done in conjunction with the issuer and their counsel.

Other types of revenue credits such as toll-roads and airports are generally not viewed as 鈥渆ssential鈥� but nevertheless are critical to the efficient functioning of modern cities and states.听 Cabrera has had the privilege to serve as a senior manager and as a co-manager for numerous issuers of revenue bonds.

Education whether K-12, community colleges, universities or special education one of the largest sectors in the public finance space.听 Because of their importance in our society, the vast majority of education institutions receive the benefit of tax-exemption.听 Cabrera works with these institutions to structure the sale of tax-exempt bonds whose proceeds are used to build and maintain their critical facilities.

Institutions of higher learning have diverse business operations including student housing, parking, foodservice and the financing of laboratories in conjunction with corporations.听 Cabrera has worked on numerous types of these financings.

The healthcare space has been rapidly growing in recent years and Cabrera has worked with numerous clients to assist them to grow organically as well as to plan and execute their acquisitions.听 It has been our privilege to work with some of the largest healthcare organizations in the United States.