Thomas A. Sage
Partner
Tom counsels both issuers and underwriters in almost every aspect of tax-exempt financing and infrastructure development. Tom emphasizes his practice in the realm of school finance, municipal finance, infrastructure, and urban development. He regularly serves as bond counsel for several cities, counties, and school districts as well as special utility districts. Tom created the practice and is the foremost authority on charter school finance.
In the area of traditional finance, Tom has been instrumental in guiding a number of clients through financing structures that avoid any negative impact on the tax base. In addition, he completed Texas’ first constant maturity swap transaction for voted bonds. Tom also developed the practice and is the authority for charter school bond financings in the States of Texas and Arkansas.
Representative Experience
Cities and Counties
- Served as bond counsel for the City of Sugar Land in the financing of their minor league baseball stadium
- Served as underwriters counsel for a County in the issuance of Pass Through Toll Revenue and Limited Tax Bonds
- Represented cities in re-apportioning the voted sales taxes to meet current needs of the community
School Districts and College Districts
- Served as bond counsel for an Independent School District in the sale of $276.5 million Unlimited Tax Adjustable Rate Schoolhouse Refunding Bonds
- Served as bond counsel for Goose Creek Consolidated Independent School District in the sale of $16 million Qualified Zone Academy Bonds
- Developed novel structure for Variable Rate Refunding transactions that preserve PSF Guaranty and EDA funding and issued over $400 million in Variable Rate Bonds for various clients
- Served as bond counsel for College Districts in the development and issuance of Lease Revenue Bonds and Commercial Paper programs
- Innovated novel refunding structures for larger issuers involving an aggregation of legal authority, allowing clients to optimize market entry
- Served as bond counsel to Lone Star College System in connection with the state's first CMS interest rate swap transactions for both General Obligation and Revenue Bonds
Charter Schools
- Served as bond counsel for KIPP Inc. in the sale of $70 million in charter school revenue bonds
- Developed a Commercial Paper financing structure leveraging the assets of an endowed foundation
- Represented clients in drafting and passing valuable legislation enabling access to Federal funding through the U.S. Department of Education
- Served as Bond Counsel on the first Charter School financing in Texas and Arkansas
- Represented clients in drafting valuable legislation to provide credit enhancement for Charter School Bonds
Land Development
- Serves as general counsel for numerous special utility districts providing both local and regional infrastructure and utilities
- Represented the City of Magnolia in negotiating the Development Agreement and issuing the Public Improvement District Revenue Bonds to finance a 700 acre mixed-use development
- Represents the developer of a 500 acre transmodal facility in Fort Bend County, TX
Publications
- Federal Agencies Looking Closely at Municipal Bonds: What You Need to Know (November 18, 2011)
- Municipal Bond Offerings: SEC Charges State of New Jersey for Fraudulent Municipal Bond Offerings (August 19, 2010)
- "Between a Rock and a Hard Place: The Legal and Moral Juxtaposition of Switzerland's Bank Secrecy Laws as Illustrated by the Revelation of Nazi Era Accounts," Houston Journal of International Law, Fall 1998
Events
- "K-12," Moderator, 2012 Bond Buyer Conference, Austin, Texas (February 13, 2012)
- "Overview of Public Law Legislation Passed During the 82nd Legislative Session," Estrada Hinojosa Annual Conference, Dallas, Texas (August 25, 2011)
Professional Recognition
- Texas Rising Star, Texas Monthly (2005-2006)
- The Best Lawyers in America, Public Finance Law (2008-2010)
- "2010 Deal of the Year - Southwest Region" - Bond Buyer
