Frank B. Cleary practices in the areas of government finance and taxation.
Since 1990, Frank has been the firm’s liaison with the Office of the Treasurer in connection with the firm’s role as bond counsel to the state of Connecticut. In addition, he has served as bond counsel in municipal and Section 501(c)(3) bond issues. He has substantial experience in representing clients who are participants in revenue and facility financings and has participated in a substantial number of tax-advantaged financings.
Frank has represented both municipalities and service providers in structuring privatization transactions in which the impact of tax-exempt financing was addressed. He participated in the structuring of the financing of the costs of deregulation of the state of Connecticut’s electric utilities through the issuance of “Rate Reduction Certificates.”
He also has substantial experience representing corporations and their shareholders in both tax and transactional matters.
American Bar Association - Tax Law Section; Business Law Section
National Association of Bond Lawyers
Honors & Recognitions
Listed in The Best Lawyers in America in the area of public finance law since 2007
- Co-counsel to the finance authority in the issuance of $1,438,400,000 Rate Reduction Certificates, which financed the deregulation of electricity in Connecticut
- First use of state of Connecticut’s real estate tax intercept procedure to secure bonds, which allowed a municipality to access market without state credit enhancement and oversight
- Represented Authority in a synthetic refunding integrated into part of recapitalization
- Represented a family holding company in restructuring which permitted greater ability to distribute advantageously to subsequent generations
News & Insights
- What Might Wayfair Mean for Me? The Changing Landscape of State and Local Sales Taxes and Retroactivity Concerns03.15.2018
Bar and Court Admissions
Fordham Law School, J.D., 1973
Princeton University, A.B., 1970