May 6 – Municipal Finance – F10
The Anatomy of a Bond Transaction
Speaker: Eric Shytle
This session will focus on the role of the municipal attorney in a bond transaction. We will first discuss the different types of municipal bonds and the legal and practical issues implicated by the nature of the borrowing. In particular, we will distinguish general obligation from revenue bonds and publicly sold from privately placed bonds. We will also identify and describe the players in a bond transaction; the overall process of approving, selling, and closing bonds; and the questions that should be asked during that process. Finally, we will consider three bond-related issues that are of particular importance to the municipal attorney: the scope and content of the municipal attorney's legal opinion, continuing disclosure requirements, and post-closing tax issues.
Eric Shytle serves as the General Counsel for the City of Sumter, South Carolina. He provides legal guidance to the City on local government matters, finance, contracts, land use, public records, open meetings, water and wastewater utilities, procurement, and other related matters. Eric rejoined the City in 2013 after previously serving as Chief of Staff for the City from 2006 to 2008. From 1999 to 2006, and again from 2008 to 2012, Eric was a public finance attorney in private practice at Haynsworth Sinkler Boyd, P.A., in Columbia. While in private practice, he served as State Bond Counsel for the State of South Carolina and also represented universities, school districts, counties, municipalities, and special purpose districts throughout the State. He received his Bachelor's Degree from the University of Georgia in 1991 and his Juris Doctorate from the University of South Carolina School of Law in 1996.