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Thomas William Bruno Partner

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Richmond T +1 804 775 1853 F fax +1 804 440 7731
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T.W. is a transactional lawyer who handles securities and disclosure matters related to the tax-exempt bond market. He helps clients through the bond issuance process, from preliminary approvals and structuring to crafting disclosure and collaborating on post-closing issues related to tax and securities matters. He serves as bond counsel on transactions and as underwriter’s counsel and lender’s counsel on bond transactions. In addition to his practice, T.W. serves as the co-leader of the firm’s Education Industry Team. He has also been a member of the Securities Law Committee of the National Association of Bond Lawyers since 2013.

T.W. focuses on public finance securities regulation. He works on large issues of over $600 million and small issues of less than $1 million. His clients include universities, health systems, and state and local governments and authorities. He has extensive experience with pooled bond financings and matters related to master trust indentures and other security documents.

He also advises on different financing structures such as bank-qualified debt, multiple mode and variable rate issues, issues with various derivative products, taxable issues, incremental tax revenue pledges and forward-delivery bonds. He also works on public/private financing arrangements and financing of infrastructure projects involving multijurisdictional agreements. T.W. serves as special counsel in connection with equipment and energy efficiency leases and provides advice on bond-related issues related to corporate and real estate transactions. T.W. views his role as helping his clients structure a transaction in a tax-friendly and practical manner.

In addition to his public finance practice, T.W. focuses on securities regulations affecting municipal bonds. He assists on matters involving the SEC and FINRA and advises clients on disclosure and establishing disclosure policies, diligence and Dodd-Frank issues.

Experience

  • Bond and borrower counsel for a nonprofit retirement community involving the combination of obligated groups.
  • Bond counsel for a university’s issuance of century bonds.
  • Bond counsel for a cross-over refunding of Build America Bonds.
  • Bond counsel for the issuance of tax credit bonds, including approximately $2.5 million in qualified energy conservation bonds, where he assisted in establishing a “green community program.”
  • Bond counsel for a nonprofit health system financing involving multiple series and a multimodal structure.
  • Bond counsel for a $121,000 bond financing with a state revolving fund to finance new water pumps.
  • Underwriter’s counsel for the issuance of certificates of participation to refinance improvements to continuing care retirement facilities.
  • Lender’s counsel for a multijurisdictional health system financing involving six series of bonds in three states.
  • Bond counsel to a regional jail authority in connection with a $1.8 million tax-exempt energy lease project.
  • Bond counsel and special counsel to a locality in connection with the financing of a new public library. The project involved leveraging traditional general obligation bond financing with a new markets tax credit financing to facilitate private contribution to the project.

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