The New York State Thruway Authority last week announced its selection of firms to serve as bond counsel on state-supported debt.
The selected firms were Harris Beach PLLC, Hawkins Delafield & Wood LLP, Sidley Austin LLP, and two combined firms that offered joint proposals: Hiscock & Barclay LLP/Joseph C. Reid PA and Holland & Knight LLP/Rivera Driscoll & Carey LLP.
Contracts will extend for five years beginning Jan 1, with a payment ceiling of $500,000. The firms will work on state-backed special obligations of the Thruway Authority.
Currently the authority has three firms in its special obligations bond pool and those contracts will expire at the end of the year. It may opt to increase its bond counsel pool in the future.
“It is anticipated that a supplemental request for proposals will be issued for these services in two years wherein an opportunity will be provided for additional firms to propose and possibly be added to the special bond counsel pool,” according to an authority document regarding the authorization of the new bond counsel team.