Bond Counsel

Previous: The Wise Act
Bond Counsel

Water Bank applicants are encouraged to utilize the services of a bond counsel to comply with various Water Bank financial requirements. Among other things, a bond counsel

  • drafts documents relative to borrower official action,
  • renders an opinion that the municipal bond issued as a guarantee for your repayment of the Water Bank loan is valid and legally binding, and
  • renders an opinion that the Water Bank loan interest is free of federal and state income tax, and
  • certifies that an applicant can move forward with the infrastructure project, even in the event that the funding falls through.

In addition, the public entity applying for the loan will need an ordinance approving the project.

Previous: The Wise Act
Bond Counsel
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NEW JERSEY INFRASTRUCTURE BANK APPLICANT'S GUIDE