Todd serves as bond counsel to municipal governments, local development corporations and public authorities, and represents underwriters in public finance transactions.
During his career, he has served as bond counsel to the cities of Albany, Batavia, Buffalo, Dunkirk, Long Beach, Newburgh, Rochester, Troy and Yonkers; the counties of Chautauqua, Erie, Monroe, Orange, Rockland, Schenectady, Suffolk and Westchester; and various towns and villages throughout New York state.
He also practices as transaction counsel in securitization transactions for New York counties entitled to receive payments from tobacco companies pursuant to the 1998 Master Settlement Agreement among 46 states and domestic cigarette manufacturing companies. In particular, he has served as transaction counsel for the Tobacco Asset Securitization Corporation financings on behalf of Chautauqua, Erie, Niagara, Onondaga, Oswego, Rensselaer, Rockland, Suffolk and Westchester counties.
Todd participated in the structuring and implementation of a revenue bond financing program through the Erie County Industrial Development Agency for the citywide Buffalo Public Schools building reconstruction program. He subsequently was retained as underwriters’ counsel for a similar program undertaken by the Syracuse Industrial Development Agency for the citywide Syracuse City School District building reconstruction program.
He has also assisted in the drafting of special New York state legislation creating the Buffalo Municipal Water Finance Authority and Erie County Medical Center Corporation, served as bond counsel to both corporations; served as bond counsel to the Buffalo Sewer Authority, as well as counsel to various underwriters in relation to bond and note issues of municipalities throughout New York state.
Todd has widely recognized experience in municipal fiscal crises and deficit financing, including drafting of legislation for the creation of various state oversight entities and authorization of deficit financing transactions, as well as representation of such oversight entities and controlled municipalities as bond counsel. He has served as bond counsel to such state oversight entities in New York, Connecticut and Florida, including the Municipal Assistance Corporation for the City of Troy and Nassau County Interim Finance Authority, the Bridgeport Financial Control Board and the Miami Financial Control Board. His representation of Buffalo and Erie County as bond counsel includes the tenures of the Buffalo Fiscal Stability Authority and the Erie County Fiscal Stability Authority, created by state legislation to provide fiscal oversight for Buffalo and Erie County. Todd’s representation of the city of Yonkers as bond counsel included the tenure of two separate emergency financial control boards created by state legislation to provide fiscal oversight for Yonkers. His representation of the city of Newburgh as bond counsel includes the term of state intervention legislation to provide fiscal oversight for that city.
Todd has drafted a variety of legislation for the New York State Comptroller’s Commission on Public Debt Issuance and other state legislative initiatives. He is regularly consulted by members and staff of the New York State Legislature and the governor’s staff regarding drafting and analysis of proposed legislation affecting local government finance, including the comprehensive reform of New York local finance laws enacted as Chapter 413 of the New York Laws of 1991 and subsequent legislation implementing constitutional amendments authorizing level debt service and capital appreciation bond financing.
Prior to private practice, Todd had substantial experience in New York state government, as legislative counsel for members of the New York State Assembly and the Office of Assembly Speaker, and as counsel to the New York State Energy Research and Development Authority.
