December 9, 2021—Barclay Damon is pleased to announce that the national publication Bond Buyer has chosen the Buffalo Sewer Authority, one of the firm’s clients, as the winner in the Small Issuer Financing category of the 2021 Deal of the Year awards. This is the 20th year that Bond Buyer has recognized outstanding achievement in municipal finance. The Buffalo Sewer Authority is also a finalist for the national Deal of the Year award.
For the third consecutive year, Bond Buyer has named winners in 10 categories: five awards in its regional areas of coverage along with five additional categories. All award winners are also finalists for the national Deal of the Year award, which will be announced at an award ceremony in New York City on December 16.
The Buffalo Sewer Authority was selected for its $49.2 million issuance of sewer system environmental impact revenue bonds, which is the Buffalo Sewer Authority’s first public bond sale since 2003. Proceeds from the sale will implement green infrastructure projects to reduce the runoff of sewage, suspended solids nitrogen, and phosphorous into the adjacent Niagara River and Lake Erie. The bond issuance was handled by a team led by Barclay Damon partners Sharon Brown and Tim Cashmore.
“This is a significant accomplishment for the Buffalo Sewer Authority, and I am glad that Tim and I were able to serve as bond counsel on the transaction,” said Sharon Brown, co-chair of Barclay Damon’s Public Finance Practice Area. “It’s a huge honor for our client, and I hope they are the recipient of this year’s award,” she added.
Tim Cashmore, partner, said, “We are proud to have played a key role in supporting the Buffalo Sewer Authority in bringing its Rain Check 2.0 initiative to life. This initiative is a remarkable accomplishment for Buffalo. Not only will it have a positive environmental impact, it will also positively impact the Buffalo community by creating much-needed jobs.”
Buffalo Sewer Authority Executive Secretary and Chief Financial Officer Ronald Brown said, “After not being in the public market for almost two decades, the Buffalo Sewer team was excited to work with a deft group of partners on a public bond offering that provided innovation, appeal, and widespread overwhelming support. We thank Buffalo Mayor Byron Brown; OJ McFoy, general manager; Herb Bellamy, board president; and EIB partners for an immensely successful offering.”
Barclay Damon’s managing partner, Connie Cahill, stated, “We want to congratulate our client the Buffalo Sewer Authority on its groundbreaking investment in green stormwater infrastructure financed by the environmental impact bonds—the largest issue of its kind in the United States. We are honored that Barclay Damon was selected to serve as bond counsel on such a significant transaction that benefits everyone in the Buffalo community.”
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