Public Finance Alert

    View Author June 2009

    On June 12, 2009 the federal government released helpful formal guidance regarding Recovery Zone Bonds and allocations of Recovery Zone Bond amounts for all counties and large municipalities in the United States. These allocations are for the $10 billion in Recovery Zone Economic Development Bonds for public infrastructure financings and $15 billion in Recovery Zone Facility Bonds for private activity bond financings authorized in the American Recovery and Reinvestment Act of 2009 (ARRA, also known as the Economic Stimulus Act). As we reported to you in February, bond financings under these allocations are to be issued before January 1, 2011 with the proceeds used for projects in "recovery zones" designated by the counties and large municipalities receiving these allocations.

    If you have questions regarding these allocations, their permitted uses or procedures for bond issuance, or the designation of recovery zones, or if you would like to learn more about Recovery Zone Bonds, please contact your principal Squire Sanders lawyer.