William M. Lofton

Client Work

• Bill successfully drafted local governmental procedural ordinances enabling the issuance of housing bonds, bonds for port facilities, and economic development.
• When a major California municipality wanted to finance landfill closure and park construction, it retained Bill as bond counsel to navigate the process.
• Bill’s assisted an underwriter in executing project financing approaches for the development of solid waste processing and cogeneration facilities.
• Bill has been called to serve as a trial consultant and expert witness in numerous disputes involving public finance transactions; the adequacy of disclosure under anti-fraud rules; and the obligations of counsel under State ethics rules and professional practice standards.
• As special counsel to a major California housing authority, Bill helped shepherd a defaulted FHA-Insured low-income housing development bond issue.
• When retained as special counsel to an amusement park owner/operator, Bill provided guidance on restructuring its municipal bond conduit debt to avoid bankruptcy, including leading the bond tender process.
• The respective underwriters of a restructuring of a municipal bond defaulted special tax bonds — one of which involved a residential subdivision and one that “repositioned” a shopping mall in a major Silicon Valley City to an enclosed mall anchored by a multiplex cinema – hired Bill to guide them through the process.

Publications and Presentations

A frequent speaker at conferences, Bill has addressed municipal finance issues ranging from disclosure practices to ethical issues arising in finance representations. As part of his service to the National Association of Bond Counsel and the ABA Public Law Subcommittee on State and Local Obligations, he has led numerous panel discussions related to the development and implementation of the continuing disclosure regime for municipal bonds.

Bill was honored when the US Navy asked him to be its only civilian presenter at a Navy conference for Bay Area governmental entities to discuss the Navy’s process for transfer of closed naval facilities to these governments, including, Treasure Island, Hunters Point, the Alameda Naval Air Station, and the Mare Island submarine repair facility.

Pro Bono Activites

Bill has represented a number of professional associations and associations in formation, governance and administrative matters. Most recently he advised a civic non-profit in connection with raising capital through crowdfunding.