FOSTER CLARK is a Partner in the Birmingham office and serves as Chair of the firm's Public Finance Practice and is a member of the firm's Executive Committee. He also served as Chair of the Corporate, Finance and Securities Section and as Chair of the firm's Recruiting Committee.
Foster has extensive experience in the roles of bond counsel, underwriter's counsel and disclosure counsel in taxable and tax-exempt bond financings, including state, county and municipal obligations, private activity bonds and revenue obligations of state and local corporations and instrumentalities. Foster has served as bond counsel or underwriter's counsel in the financing of programs and projects by the State of Alabama and its agencies and instrumentalities including:
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single - and multi-family housing programs of Alabama Housing Finance Authority;
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general and limited obligation debt financings of the State;
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financing and refinancing of the Gordon Persons State Office Building;
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financing and refinancing of the Alabama Supreme Court building;
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financings and refundings by the Alabama Highway Authority for public roads and bridges;
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issues by the State Industrial Development Authority to provide funds for industrial development programs;
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new money and refunding obligations issued by the Alabama Public School and College Authority to finance capital improvements to the elementary, secondary and post-graduate education facilities in the State of Alabama;
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financings by The Alabama Public Health Care Authority to provide public health facilities throughout the State;
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revolving fund loan programs by Alabama Water Pollution Control Authority and Alabama Drinking Water Finance Authority for water and sewer projects throughout the State.
Foster has also served as bond counsel in numerous tax-exempt and taxable bond issues for industrial plants, air and water pollution control facilities, and sewage and solid waste disposal facilities in Alabama, Georgia, Tennessee, Florida and Arkansas.
Representative Transactions
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Numerous single family housing issues over 25 years for Alabama Housing Finance Authority.
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General and limited obligation debt financings for the State of Alabama.
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Bonds issued by the Alabama Highway Authority for public roads and bridges financings by the State Industrial Development Authority for economic development grants.
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Bonds issued by the Alabama Public School and College Authority for public school facilities.
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Bonds issued by the Alabama Public Health Care Authority for public health facilities.
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Alabama Water Pollution Control Authority revolving fund bonds.
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Alabama Drinking Water Finance Authority revolving fund bonds.
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Numerous private activity bonds for manufacturing, pollution control, sewage and solid waste facilities.
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Bonds for various 501(c)(3) organizations, including hospitals, the Lakeshore Foundation and the Barber Vintage Motorsports Museum.
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Representation of Jefferson County, Alabama in its effort to address bond defaults and other financial distress.
PROFESSIONAL ACTIVITIES
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National Association of Bond Lawyers, President (2007-2008); President Elect (2006-2007); Treasurer (2005-2006); Secretary (2004-2005)
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American College of Bond Counsel, Fellow; Board of Directors (2010)
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Listed in Chambers USA, America's Leading Lawyers for Business, Public Finance
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Listed in The Best Lawyers in America, 2005 - Present
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Listed in Super Lawyers, 2008 & 2009
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Alabama State Bar, Past President, International Law Section
COMMUNITY RELATIONS
- Past Chairman of the Vulcan District of the Boy Scouts of America