Taft partner James D. Shanahan counseled Indiana school district New Prairie United School Corporation (NPUSC) on a successful capital referendum at which the voters approved a $42 million dollar bond issue to fund facilities improvements.
On May 3, voters approved a ballot referendum for the district to issue bonds or enter into a lease to finance a comprehensive construction, renovation and improvement program for the school’s facilities. The project includes renovation of New Prairie High School and targeted improvements at other NPUSC school facilities. Seventy percent of the project will address renovation, infrastructure and reconfiguration improvements at the high school, which was built in 1968. Other district schools receiving improvements are Olive Township, Rolling Prairie and Prairie View Elementary Schools and New Prairie Middle School. The bonds are expected to be issued in late 2016.
Shanahan has focused his practice on municipal finance and bond work in Indiana and Illinois since 2009. In addition to providing counsel on referenda, he serves as bond counsel, underwriter’s counsel, bank counsel, issuer’s counsel, disclosure counsel and special counsel for a range of transactions. Shanahan has worked on both short-term and long-term tax-exempt and taxable financings and on financings for schools, towns, counties, wastewater reclamation districts, water and sanitary districts, and park districts.