David Panico is the chair of the Public Finance Practice Group, where he focuses his practice on representing state and municipal governments in the issuance of tax-exempt and taxable general obligation bonds and notes. Mr. Panico also represents issuers, borrowers, underwriters, credit facility providers, and investors in structuring and documenting revenue bond issues for health care and higher education facilities, gaming and governmental projects for Indian tribal governments, sports arenas, parking garages, recreation projects, affordable housing, and assisted living and continuing care facilities.
Mr. Panico began his career advising clients regarding tax law applicable to tax-exempt obligations and continues to advise clients on the tax aspects of issuing, refunding, and restructuring tax-exempt debt. His tax experience includes advising clients on the use of interest rate swap agreements for new money and refunding transactions (including rate locks, swaptions, and super-integrated hedges), arbitrage rebate liability, changes in use of bond-financed facilities, and restructuring tax-exempt obligations due to financial distress. He also advises issuers and financial institutions on statutory and tax law applicable to investments of bond proceeds and general fund moneys.
Mr. Panico has written and presented on various public finance topics, including economic development projects, qualified 501(c)(3) bonds, Indian tribal government finance, arbitrage rebate, IRS audits and post-issuance compliance, clean renewable energy bonds (CREBs), qualified energy conservation bonds (QECBs), energy performance contracts, tax increment financing (TIF), and new market tax credits. Mr. Panico has authored comments that have been incorporated into the Treasury Regulations. He is the author of the article "Survey of the Final Arbitrage Regulations," published in The Urban Lawyer, an American Bar Association publication.
Prior to joining Robinson & Cole, Mr. Panico was a certified public accountant with Ernst & Whinney.