1. H A W K I N S U P D A T E
DECEMBER 2016 EDITION HAWKINS DELAFIELD & WOOD LLP
Hawkins Assists Metropolitan Transporta on
Authority with First Green Bonds
Hawkins served as special disclosure counsel to the
Metropolitan Transporta on Authority in its issuance of
over $1.3 billion of green bonds in 2016. The MTA
manages North America’s largest transporta on
network, serving a popula on of 15.3 million people in
New York City, Long Island, southeastern New York State
and Connec cut. The issuances were the first of their
kind for the MTA and will fund the con nuing work on
infrastructure renewal and upgrade projects on New York
City Transit, Long Island Rail Road and Metro-North
Railroad. The Climate Bonds Standard Board has
approved the projects as “Climate Bond Cer fied,”
(con nued on page 2)
Hawkins as Underwriters’ Counsel in
Financing for LaGuardia Airport’s Terminal B
Replacement Project, The Bond Buyer’s
Northeast Region Deal of the Year
In June 2016, Hawkins served as sole underwriters’
counsel on the $2.4 billion financing for LaGuardia
Airport to pay for the complete demoli on of the exis ng
Terminal B and reconstruc on of a new replacement
Terminal B (the main terminal building). LaGuardia
Airport is operated by the Port Authority of New York
and New Jersey. The Port Authority developed the
project as a public-private partnership, and selected a
team of Meridiam Infrastructure, Vantage Airport Group
and Skanska to be the primary investors in a private
(con nued on page 2)
Hawkins as Underwriters’ Counsel in
Financing for Vanderbilt University Medical
Center, The Bond Buyer’s Southeast Region
Deal of the Year
Hawkins served as underwriters’ counsel in connec on
with the issuance of $1.13 billion in tax exempt and
taxable revenue bonds by The Health and Educa on
Facili es Board of The Metropolitan Government of
Nashville and Davison County, Tennessee for the benefit
of Vanderbilt University Medical Center (“VUMC”). The
bonds financed the dives ture of the medical center
(con nued on page 2)
For 162 Years Hawkins Delafield & Wood LLP
has Guided Clients through Changing Times;
Hawkins Passes One Trillion Dollar Mark in
Volume of Transac ons
As the year 2016 draws to a close, the outlook for the
public finance market includes good news of record
annual bond volume and a proposed one trillion dollar
federal infrastructure ini a ve, but also uncertainty from
rising interest rates, a new administra on and proposed
major tax reform. For 162 years, Hawkins has been
serving its clients through mes of change, risk and
opportunity. In 1854, Dexter Hawkins founded the Firm
at 10 Wall Street. Now, as then, Hawkins stands ready to
guide its clients through changing mes and the matrix of
issues in bond financings and public projects.
Since 1980 (the date from which reliable data have been
gathered), Hawkins has completed over one trillion
dollars in public finance deals as bond counsel and
underwriters’ counsel, according to data collected by
(con nued on page 2)
Hawkins Advisories on Securi es Law and
Tax Law Developments in Public Finance
ADorneys at Hawkins have recently authored several
Hawkins Advisories on legal topics of interest to issuers
and professionals in the tax-exempt finance industry,
including updates on several important developments in
tax and securi es law. By circula ng Advisories aEer
important legal developments in public finance, Hawkins
keeps its clients and friends well informed as to these
topics.
(con nued on page 2)
Hawkins Assists City and County of San
Francisco with Financing of 55-Story
Residen al Building
In December 2016, Hawkins served as disclosure counsel
to the City and County of San Francisco in connec on
with its issuance of $240 million Variable Rate
Mul family Housing Revenue Bonds (Transbay Block 8
Tower) issued on behalf of an affiliate of the developer,
Related Companies. The bonds will finance a por on of
the cost of a new $600 million 55-story tower and
surrounding buildings in downtown San Francisco. The
(con nued on page 3)

2. HAWKINS UPDATE
Hawkins Assists Metropolitan Transporta on
Authority with First Green Bonds
(con nued from page 1)
based on a Climate Bonds Standard Verifica on LeDer
provided by Sustainaly cs. In its capacity as special
disclosure counsel, Hawkins worked closely with MTA to
craE new green bonds disclosure for their offering
documents and also to develop ongoing con nuing
disclosure policies and procedures.
In addi on to being a leader in the financing of
transporta on and other infrastructure projects, Hawkins
is a leader in the fast-growing area of green bonds and
other environmentally significant projects. Through
November 30, 2016, Hawkins is ranked the number one
bond counsel firm in the na on for green bonds based on
the number of transac ons (12 issues), and ranked the
number three bond counsel firm in the na on for green
bonds based on dollar volume ($1.8 billion in volume).
Hawkins as Underwriters’ Counsel in Financing for
LaGuardia Airport’s Terminal B Replacement Project
(con nued from page 1)
en ty that would develop, finance, construct and operate
the project. This transac on was named The Bond Buyer’s
2016 Northeast Region Deal of the Year.
Hawkins is a recognized leader in financing airports,
highways, railroads, ports and other transporta on
facili es, as well as being a leading firm in represen ng
governmental organiza ons in developing and
implemen ng P3 alternate project delivery structures,
including design, build, finance, own and operate.
Hawkins as Underwriters’ Counsel in Financing for
Vanderbilt University Medical Center
(con nued from page 1)
from Vanderbilt University (the “University”). The
transac on presented a unique challenge in terms of
disclosure, as VUMC was a new credit with no prior
ac vi es, assets or liabili es. Hawkins aDorneys played a
key role in draEing disclosure that would accurately
describe VUMC as well as the complex interrela onship
between the University and VUMC. This transac on was
named The Bond Buyer’s 2016 Southeast Region Deal of
the Year.
Hawkins is recognized as a na onal leader in finance
transac ons in the health care sector. Since 1980,
Hawkins has par cipated in more than $97 billion of
health care transac ons in nearly every state. The
Hawkins health care finance team has unique depth and
perspec ve on the complicated disclosure and tax issues
that arise in connec on with tax- exempt financing for
health care facili es.
For 162 Years Hawkins has Guided Clients through
Changing Times; Hawkins Passes One Trillion Dollar
Mark in Volume of Transac ons
(con nued from page 1)
Thomson Reuters. Since 1980, Hawkins is the number
one ranked underwriters’ counsel firm and number two
ranked bond counsel firm in the na on, based on dollar
volume. In 2015 and 2016 (to date), Hawkins was ranked
first na onally as underwriters’ counsel and second as
bond counsel.
In connec on with this significant milestone for Hawkins,
Howard Zucker, a member of the Hawkins Management
CommiDee, stated that “[o]ur rela onships with our
clients and the quality and experience of our aDorneys
are the keys to our achievements. Hawkins is 162 years
old, and has been doing public finance for over 135
years, but we know we cannot rest on our laurels – we
come to work each and every day to earn and deserve
the trust and confidence of our clients.”
Hawkins is the only na onal law firm in the United States
whose prac ce is devoted primarily to public finance and
public projects. Each of the Firm’s specialty areas
supports and complements its public finance prac ce.
The Firm has more aDorneys engaged in the full- me
prac ce of public finance and projects than any other
law firm in the country.
Hawkins Advisories on Securi es Law and Tax Law
Developments in Public Finance
(con nued from page 1)
John McNally and other aDorneys in the Hawkins
securi es law group authored Hawkins Advisories on the
SEC cease-and-desist seDlement orders with 71
municipal issuers and obligated persons pursuant to the
MCDC Ini a ve and on MSRB Rule G-42.
ADorneys in the Hawkins tax department authored
Hawkins Advisories on new final regula ons published by
the IRS amending certain provisions of the exis ng
arbitrage regula ons and on IRS Revenue Procedure
2016-44, which modifies exis ng procedures on
treatment of management contracts involving property
financed with tax-exempt bond proceeds.
These Hawkins Advisories and many others on topics of
interest may be found at www.hawkins.com.
2DECEMBER 2016 EDITION

3. HAWKINS UPDATE
Hawkins Assists City and County of San Francisco
with Financing of 55-Story Residen al Building
(con nued from page 1)
project will provide affordable rental housing and change
the skyline of downtown San Francisco. The bonds were
supported by a leDer of credit issued by Bank of China.
The tower was designed by architect Rem Koolhaas. This
transac on is one of the most significant mul -family
housing financings in California. Hawkins is proud to have
served as disclosure counsel for this exci ng transac on.
Hawkins is a leader in the areas of disclosure, affordable
housing and conduit finance.
3DECEMBER 2016 EDITION
About Hawkins Update
The Hawkins Update is intended to provide updates on the ac vi es and prac ce of Hawkins Delafield & Wood LLP and
the public finance industry. Ar cles in the Hawkins Update should not be considered opinions of Hawkins Delafield &
Wood LLP. The Hawkins Update is not intended to provide legal advice as a subs tute for seeking professional counsel;
readers should not under any circumstance act upon the informa on in this publica on without seeking specific profes-
sional counsel. Hawkins Delafield & Wood LLP will be pleased to provide addi onal details regarding any ar cle upon
request. Hawkins Update is aDorney adver sing and prior results do not guarantee a similar outcome.
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