Lawrence A. Bauer
LARRY BAUER, who joined Sidley in 1981, has served the firm’s clients as bond counsel on virtually every type of general obligation, subject to appropriation and revenue bond financing. He provides guidance on all issues relating to tax-exempt financing and related matters, including advice on deal structures, investment of proceeds, interim construction financing, legislative matters and contract impairment and other constitutional questions. He is a practice area team leader of the firm’s Public Finance group, as well as a member of the firm’s Healthcare and Investment Funds, Advisers and Derivatives teams.
This experience encompasses, among other matters:
- Acting as bond counsel for the Commonwealth of Puerto Rico and all its issuing authorities and municipalities, as well as for Vermont Educational and Health Buildings Financing Agency, Vermont State Colleges and the Dormitory Authority of the State of New York.
- Acting as designated underwriters’ counsel for Southern California Public Power Authority (SCPPA) and assisting with helping its participating municipal members comply with California’s renewable energy mandates. A 20-year wind energy pre-payment SCPPA financing benefitting Los Angeles and Pasadena won The Bond Buyer 2010 Deal of the Year Award.
- Serving as bond counsel to the Commonwealth of Puerto Rico on its general obligation forward refunding bond issue that was selected as the public finance Deal of the Year by Institutional Investor magazine in 2001.
- Serving as counsel to institutional purchasers of state and local government obligations and a newly formed municipal bond insurer.
Larry’s work as bond counsel spans public power, water and sewer, toll road and 501(c)(3) issues, and multimodal (variable/auction rate), delayed delivery and credit- and liquidity-enhanced financings, as well as federally subsidized taxable debt such as Build America Bonds. He also advises clients in connection with derivative transactions, including interest rate swaps, forward delivery agreements and various investment products.
Strong leadership on behalf of his clients has earned Larry recognition every year since 2010 from U.S.News – Best Lawyers “Best Law Firms” and in The Best Lawyers in America in the area of Public Finance law. Sources told the peer-reviewed guide, “Larry is a true professional. He has represented my firm on several important legal matters and his work product was instrumental to the success of the project. He has a depth of understanding the key legal issues that I find in few other attorneys.”
- Sidley update: "In a First, SEC Finds a Local Government Violated the Anti-Fraud Provisions of the Federal Securities Laws by Recklessly Making Materially False and Misleading Written and Verbal Statements Not Directly Connected with the Issuance of Debt Securities,” May 13, 2013
- Sidley update: “Extension of temporary registration rule for municipal advisors,” (with M. Dowling and B. Endres), December 28, 2011
- Sidley update: “Reminder: Rule 15c2-12 amendments go into effect December 1, 2010,” (with E. Fierro), November 22, 2010
- Sidley update: “Amendments to Rule 15c2-12 under the Securities Exchange Act of 1934,” (with E. Pesch, E. Fierro, E. Tashman and P. Canzano), June 2, 2010
- Sidley update: “Use of a “municipal shelf” in municipal bond financings,” (with J. McGovern), April 14, 2010
Larry is co-leader of the firm’s Public Finance group. He is also a member of the American Bar Association.
Larry has represented the firm in a variety of pro bono matters. These include assisting the Society for Perioperative Assessment and Quality Improvement, a not-for-profit corporation in Massachusetts, whose mission is bringing together professionals in various medical disciplines to work on all facets influencing optimal surgical outcomes, including proper preoperative assessment and evaluation, integration of proper planning for postoperative pain, and appropriate use of alternative and complementary medicine techniques. Larry incorporated the society under Massachusetts law, assisted it in obtaining its federal tax exemption from the IRS and served as its general counsel.
He also assisted the Sila M. Calderon Foundation Centro para Puerto Rico, a Puerto Rico not-for-profit corporation, whose mission is to help reduce poverty and enhance the power of women in Puerto Rico. Pro bono work for this foundation centered on tax-exempt advice to help the foundation finance its headquarters building in Puerto Rico.