Laura M. Bassett

Laura counsels Michigan local governments on tax-exempt and taxable financings, with particular experience in water, sewer, and drain infrastructure financing. She serves as bond counsel in revenue bond transactions for water and sewer financings, accessing the public market as well as state and federal loan programs, and advises numerous Michigan county drain commissioners on drain financings and Michigan Drain Code compliance. She also advises governmental clients on debt issued in connection with capital project financing, refinancing, cash flow borrowings, pooled financings, and intergovernmental collaborations, and helps clients navigate and comply with State laws, federal tax requirements, and securities regulations related to the issuance of local government debt. She has additional public law experience advising municipal and school clients on election and campaign finance laws and open meeting and procedural matters.

• Represented a large regional water and sewer service provider as bond counsel on multiple revenue bond transactions that combined the issuance of tax-exempt bonds to refund taxable bonds and effectuate tender transactions along with new money bonds for capital projects. The transactions included complex pricing processed with the simultaneous sale in each case of two separate credits (water and sewer) on multiple liens and with overlapping maturities to achieve savings for the client.
• Represented a large regional water and sewer service provider as bond counsel on a transaction introducing variable-rate debt to the provider’s portfolio through a term rate bond, broadening the client’s investor base, diversifying the client’s debt portfolio and reducing overall borrowing costs in the process.
• Served as bond counsel for a city to finance a sewer project to comply with a court order, finding good, but rarely used Michigan statutory authority to provide a financing mechanism for the specific sewer improvements that also provided taxpayers with an extended period of time to repay the debt.
• Served as bond counsel for county water and sewer infrastructure financing to benefit multiple local units within the county.
• Represented a county water resources commissioner regarding the development of a unique regional collaboration aimed at improving water quality by removing wet weather discharges into local waterways.
• Represented drainage districts in financings ranging from small placements with local banks to public offerings with national investors.
• Served as Bond Counsel to municipalities and school districts issuing general obligation bonds (both limited tax and voted unlimited tax) for capital improvements to buildings and other facilities.
• Served as Bond Counsel to multiple clients accessing state and federal loan programs for water, sewer and drain infrastructure financing, including State of Michigan revolving fund (SRF) loans and USDA – Rural Development loans.
• Served as Bond Counsel to municipalities issuing special assessment debt for road and other infrastructure improvements.

• Financing, Michigan Association of County Drain Commissioners – New Drain Commissioner Orientation, January 9, 2025
• Legal, Financial and Construction Aspects of Financing Public School Improvements, The Metro Bureau Virtual Conference, November 17, 2020
• Bond and Note Financing Under the Drain Code, Michigan Association of County Drain Commissioners Conference, February 13, 2020
• School Legal Update, Start&Spaces Leadership Services, Inc. & Michigan Association of School Administrators Success Start Kick-Off, Lansing, Michigan, 2015 and 2016
• Regional Collaboration, Michigan Municipal League Elected Officials Academy Core Weekender, Frankenmuth, Michigan, 2014
• The Latest in School Reform, Michigan School Business Officials Conference, Grand Rapids, Michigan, 2013
• Tax Increment Financing as a Tool for Redevelopment:  Attracting Private Investment to Serve a Public Purpose—The Example of Michigan”, The Urban Lawyer, Vol. 41, No. 34, Fall 2009
• Takings in the Big Picture: The Impact of Prop. 4’s Eminent Domain Restrictions on Urban Redevelopment in Michigan”, 53 Wayne L. Rev. 899 (2007)