Rubin & Hays has served as bond counsel to electric utilities, municipal and private utilities, water districts, sewer districts, and water associations for over 50 years. We bring experience in tax-exempt financing options including revenue bonds and loan programs, and U.S. Department of Agriculture-Rural Development (RD) direct loan and guaranty programs.

Municipal Bonds

If the proper criteria are met, governmental utilities in Kentucky can issue tax-exempt municipal bonds for their capital projects and other financial needs. These bonds carry a much lower interest rate than taxable “conventional financing” from a bank, meaning that a utility can better afford the project and ratepayers get more for their money.

As bond counsel, Rubin & Hays makes the process as straight-forward as possible for the utility to issue its bonds in a timely manner.

USDA – Rural Development

We have acted as bond counsel or served on the financing team on many projects financed through the USDA-RD direct loan and guaranty programs.

Rural Water Financing Programs

For over 25 years, Rubin & Hays has assisted a number of State Rural Water Associations in establishing Interim Financing Programs to provide communities with short term funds for water and sewer system construction loans at favorable interest rates.

In addition, Rubin & Hays has worked with State Rural Water Associations in implementing an alternative permanent financing program to assist rural communities in taking advantage of the national financial markets. Pooled financing loan programs are rated on a matrix system by national rating agencies and provide a mechanism for smaller communities to access national public finance to achieve lower interest rates through the efficiencies of a pooled structure.