David D. Grossklaus
PEOPLE

David D. Grossklaus

Partner
grossklaus.david@dorsey.com

Overview

David counsels clients with respect to all types of complex tax-exempt finance transactions for governments, non-profit, and for-profit entities. 

In addition, he provides structural program finance advice to numerous states. David has also been called upon to provide counsel on numerous private activity financings related to airports, docks and wharves, sewage, water, electric, and renewable energy projects across the country.

David counsels clients serving in all legal counsel roles regarding aspects of tax-exempt financings including as borrower, underwriter, disclosure, bond, bank, governmental issuer, and corporation counsel. David’s project finance expertise has lead him to work on projects in Alaska, California, Colorado, Florida, Idaho, Iowa, Illinois, Kansas, Kentucky, Minnesota, Nebraska, Missouri, Montana, Pennsylvania, Texas, Utah, and Wisconsin. As corporation counsel David has served numerous senior living, healthcare, economic development, and private colleges regarding financings, mergers and acquisitions, asset divestitures, and board governance matters. 

David also counsels state agency and authority clients carrying out federal programs such as state revolving funds, housing programs, prison financings, highway trust fund financings, tobacco securitizations, and USDA financings.

David’s practice includes representing many of the nation’s leading investment banks and financial institutions, including: BofA Securities, Colliers Securities, D.A. Davidson & Co.; Goldman, Sachs & Co., Merrill Lynch, Pierce, Fenner & Smith Incorporated, Northland Securities, Inc., Piper Sandler, Inc., Morgan Stanley & Co. LLC, Raymond James & Associates, Inc., RBC Capital Markets, UBS PaineWebber,  U.S. Bank, N.A., Wells Fargo Bank, N.A., Wells Fargo Securities;, RBC Dain Rauscher, Citigroup Global Markets, Inc., UMB Bank, N.A and Bankers Trust Company.

Lastly, David is a regular speaker regarding disclosure and continuing disclosure, issues, and matters at various state and national conferences, including the National Association of Bond Lawyers.

Education & Admissions

Drake University Law School (J.D., 1993)

University of Northern Iowa (B.A., 1990), High Honors

Admissions

  • Iowa

Experience

Representative Transactions

  • Underwriter counsel with respect to the issuance of $63,525,000 Citizens Memorial Hospital District of Polk County, Missouri Hospital Revenue Bonds, Series 2024A and $24,425,000 Citizens Memorial Hospital District of Polk County, Missouri Hospital Revenue Bonds, Series 2024D.
  • Bond counsel with respect to financing and tender bond issuance of $300,000,000 State Revolving Fund Revenue Bonds, Series 2023A (Green Bonds), $44,450,000 State Revolving Fund Revenue Bonds, Taxable Series 2023B (Green Bonds) and $127,620,000 State Revolving Fund Revenue Bonds, Series 2023C (Green Bonds).
  • Corporation counsel with respect to the issuance of $82,140,000 Iowa Finance Authority Revenue Bonds (Lifespace Communities, Inc.), Series 2023B and $29,595,000 Palm Beach County Health Facilities Authority Revenue Bonds (Lifespace Communities, Inc.), Series 2023C.
  • Underwriter counsel with respect to the issuance of $4,825,000 Certificates of Participation, Series 2023 Evidencing a Proportionate Interest in Basic Rent Payments to Be Made by the City of Fredonia, Kansas, Pursuant to a Lease Purchase Agreement for a solar facility.
  • Bond counsel with respect to the issuance of Iowa Finance Authority $838,745,000 Midwestern Disaster Area Revenue Refunding Bonds (Iowa Fertilizer Company Project), Series 2022.
  • Corporation counsel with respect to the issuance of $85,000,000 Palm Beach County Health Facilities Authority Revenue Bonds (Lifespace Communities, Inc.), Series 2022.
  • Corporation counsel with respect to the acquisition of assisted living facilities and financing of $110,890,00 Tarrant County Cultural Education Facilities Finance Corporation Revenue Bonds (CMW Obligated Group), Series 2022A, Series 2022B, Series 2022C and $11,100,000 CMW Obligated Group Subordinated Bonds, Series 2022. 
  • Corporation counsel with respect to the issuance of $73,650,000 Iowa Finance Authority Revenue Bonds (Lifespace Communities, Inc.), Series 2021A; $30,000,000 Iowa Finance Authority Revenue Bonds (Lifespace Communities, Inc.), Series 2021B; $16,715,000 Palm Beach County Health Facilities Authority Revenue Bonds (Lifespace Communities, Inc.), Series 2021C, and $55,000,000 Iowa Finance Authority Revenue Bonds (Lifespace Communities, Inc.), Series 2021D. 
  • Bond counsel with respect to financing $9,935,000 Iowa Finance Authority Revenue Bonds (Riserville Holdings Project), Series 2021.
  • Bond counsel for $68,155,000 Iowa Finance Authority Solid Waste Facility Revenue Bonds (Gevo NW Iowa RNG, LLC Renewable Natural Gas Project), Series 2021.
  • Bond counsel with respect to $126,685,000 Alaska Industrial Development and Export Authority Revenue Bonds (Tanana Chiefs Conference Project), Series 2019A.
     

News & Resources

Articles

SEC Charges Underwriters with Violations of Rule 15c2-12
SEC Charges School District, the District’s Former Chief Financial Officer and the District’s Auditor with Violations of Federal Securities Laws in a 2018 Bond Offering
SEC Charges School District and the District’s Former Chief Financial Officer with Violations of Securities Laws in a 2018 Bond Offering
Iowa Governor Signs Legislation Related to Iowa County Hospitals’ Authority to Borrow Money
SEC Statement Encourages Municipal Securities Issuers to Provide Expanded COVID-19 Disclosures
CARES ACT Municipal Liquidity Facility
Iowa Governor Proclamation Temporarily Allows County Hospitals to Borrow Money For Operations Not Solely Secured by Revenues
CARES Act Summary for Public Finance
Guidance Regarding Electronic Meetings in Iowa
Iowa Floods and Recovery Efforts
Des Moines

News & Press Mentions

200 Dorsey Lawyers Selected for Inclusion in 2024 Best Lawyers in America, Lawyers of the Year, and Ones to Watch
Nine Dorsey Lawyers Selected in Des Moines for Inclusion in The Best Lawyers in America 2019
Eight Dorsey Lawyers Selected in Des Moines for Inclusion in The Best Lawyers in America 2018 and 2018 Lawyers of the Year
8 Dorsey Lawyers Selected in Des Moines for Inclusion in The Best Lawyers in America 2017
8 Dorsey Lawyers Selected in Des Moines for Inclusion in "The Best Lawyers in America®" 2016

Industries & Practices

  • Banking & Financial Institutions
  • Corporate Governance & Compliance
  • Energy & Natural Resources
  • Food, Beverage & Agribusiness
  • Healthcare & Life Sciences
  • Project Development & Finance
  • Public Finance
  • Public-Private Partnerships

Professional & Civic

Professional Achievements

  • National Association of Bond Lawyers
  • Iowa Bar Association - Municipal Attorneys Committee
  • Iowa Association of Business and Industry's Leadership Iowa Class of 2001-2002

Accolades

David D. Grossklaus - Best Lawyers' Lawyer of the Year 2013 - Public Finance Law, Des Moines

  • Listed in Best Lawyers in America©, 2005-2024
  • Named Best Lawyers Des Moines Public Finance Lawyer of the Year, 2013, 2018
  • Iowa Association of Business and Industry's Leadership - Iowa Class of 2001-2002
David D. Grossklaus