Legal Counsel / Authority Counsel

Michael M. Stoddard

Chelsea Porter

Hawley Troxell Ennis & Hawley, LLP
PO Box 1617
Boise, Idaho 83701
(208) 344-6000

Hawley Troxell serves as the Authority’s counsel in these transactions, providing legal advice and assisting with resolutions, public approval meetings, noticing TEFRA hearings and gaining appropriate state approvals when necessary.

Bond Counsel

David K. Lucas

Sherman & Howard, LLC
675 Fifteenth Street, Suite 2300
Denver, Colorado 80202
(303) 299-8134

Sherman & Howard provides bond counsel services. In this role, they draft all legal documents, including resolutions, loan documents, lease agreements and indentures depending on the transaction structure. Sherman & Howard also conducts tax due diligence to ensure the health institution and the proposed capital project are in compliance with the Internal Revenue Code and regulations promulgated thereunder related to tax-exempt financings. Such tax-related due diligence will require review of all leases and contracts related to bond financed equipment and facilities.

Disclosure Counsel

Nancy A. Burke

Chapman & Cutler
111 West Monroe
Chicago, Illinois 60603
(312) 845-2953

Chapman & Cutler’s principal role is to draft the Preliminary Official Statement and Official Statement, which are the primary disclosure documents offered to potential investors. To draft these disclosure documents requires a vast amount of due diligence. Disclosure counsel will request that the health institution provide contracts, financials, and other pertinent documentation to assist with drafting. This can often be a tedious process. In addition, disclosure counsel will draft a continuing disclosure agreement, which the health institution will enter into and whereby it will agree to provide the market with updates on its records and status throughout the life of the bonds.

Financial Advisor

Raul Ardelean and Florien Bouwmeester


PFM works with the health institution in the very early stages, as well as throughout the transaction, to structure the financing in a way that best fits its needs and debt capacity and cash flow capabilities. PFM will review financial records and analyze growth potential, market trends and, based on such, will outline financing alternatives. PFM will also work to make sure the financial covenants and restrictions in the financial documents are as favorable as possible to the health institution.


The Idaho Health Facilities Authority has worked with numerous trustees, whose primary role in the transaction is to assist with making payments to bondholders and to work with the health institution on continuing disclosure compliance throughout the life of the bonds.