McCall has broad experience as bond counsel or disclosure counsel on transportation transactions in the Southwest region. The firm has worked on more than $36 billion of transportation transactions in the last five years.

McCall was has been a key player in the development of toll road financing in the State of Texas, initially with the Dallas-Fort Worth Turnpike and the Dallas North Tollway. The firm served as bond counsel for the $2.2 billion in debt issued by the Texas Transportation Commission to finance a new turnpike system in Central Texas. The bond issue also saw the first use of federal transportation funds for a state highway financing in Texas. The Transportation Infrastructure Finance and Innovation Act loan in Texas marked a breakthrough for the program because the loan was being used primarily to enhance the credit quality of the bonds. This financing was named the Southwest Region “Deal of the Year” award in 2002 by The Bond Buyer, one of four regional transactions in the country so named, and was a finalist for recognition as the “Deal of the Year” national award.

The firm served as bond counsel with respect to the establishment of a new financing program for the Texas Transportation Commission and the Texas Department of Transportation through the initial issuance of $1 billion in bonds for the Texas Mobility Fund. The Texas Mobility Fund is a dedicated fund created pursuant to the Texas Constitution and the Texas Transportation Code that is funded from various drivers’ license/record and motor vehicle fees.

TIFIA Experience and PPP Experience

The Transportation Infrastructure Finance and Innovation Act (TIFIA) established a Federal credit program for eligible transportation projects of national or regional significance under which the U.S. Department of Transportation may provide three forms of credit assistance—secured (direct) loans, loan guarantees, and standby lines of credit.

McCall advised clients on strategic financing combinations including the use of federal grants to pay credit subsidy costs of TIFIA loans, and issuance of bond anticipation notes and long-term bonds payable from future drawdowns of the TIFIA loan or refunding bond proceeds. No other Texas bond firm has negotiated more TIFIA loans than McCall. McCall has negotiated or is currently negotiating or has worked on more than five TIFIA Loans amounting for a total amount greater than $3.3 billion.

In addition, McCall has served as bond counsel on many public-private- partnership (PPP) transactions.

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