David D. Grossklaus
PEOPLE

David D. Grossklaus

Partner
grossklaus.david@dorsey.com

Overview

DAVID COUNSELS CLIENTS TO EFFICIENTLY AND ECONOMICALLY COMPLETE COMPLEX FINANCING TRANSACTIONS FOR GOVERNMENTS AND CORPORATIONS.

As trusted counsel, David helps clients with respect to all aspects of tax-exempt financings. He serves in the role of underwriter, disclosure, bond, bank, governmental issuer and corporate counsel for projects spanning the entire Midwest and throughout the Northwest, including Alaska.

He also advises state governments on federal and state program financings and has experience with all levels of federal tax exempt private activity financings. In addition, clients entrust David to provide general counsel with respect to debt restructurings, acquisitions, corporate governance issues and economic development projects.

David’s practice includes representing the nation’s biggest investment banks and financial institutions, including U.S. Bank, N.A., Wells Fargo Bank, N.A., Wells Fargo Securities; Piper Jaffray, Inc.; UBS PaineWebber; Morgan Stanley, RBC Dain Rauscher, Citigroup Global Markets, Inc., Banc of America Merrill Lynch; D.A. Davidson, Northland Securities, Inc., UMB Bank, N.A and Bankers Trust Company.

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.

Education & Admissions

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

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

Admissions

  • Iowa

Experience

Representative Transactions

  • Served as Bond Counsel on the largest aggregate principal amount of bonds issued for a private activity financing in U.S. history in the issuance of $1,184,660,000 Iowa Finance Authority Midwestern Disaster Area Revenue Bonds (Iowa Fertilizer Company Project), Series 2013.
  • Served as corporation counsel for the issuance of $34,785,000 Illinois Finance Authority Revenue Bonds (Lifespace Communities, Inc.), Series 2015A; $4,855,000 Illinois Finance Authority Taxable Revenue Bonds (Lifespace Communities, Inc.), Series 2015B; and $43,730,000 Palm Beach County Health Facilities Authority Revenue Bonds (Lifespace Communities, Inc.), Series 2015C.
  • Counseled the hospital and issuers on a complex multi-issue transaction resulting in the the issuance by Hardin County of $20,000,000 General Obligation Urban Renewal Bonds (Ellsworth Municipal Hospital Project), Series 2012; City of Iowa Falls $2,000,000 General Obligation Capital Loan Notes (Ellsworth Municipal Hospital Project), Series 2012 and City of Iowa Falls $3,000,000 Hospital Revenue Bonds (Ellsworth Municipal Hospital Project), Series 2012.
  • Provided corporation and bond counsel experience with respect to a multi-series bankruptcy workout financing culminating in the issuance of Iowa Finance Authority $23,736,500, Senior Living Facility Revenue Bonds, Series 2014A; $4,452,640, Senior Living Facility Subordinate Revenue Bonds, Series 2014B; $6,500,000, Senior Living Facility Revenue Bond (Taxable), Series 2014C; and $6,000,000, Senior Living Facility Revenue Bonds, Series 2014D (Deerfield Retirement Community, Inc. Project).
  • Counseled a national bank regarding the purchase of $5,000,000 Idaho Housing and Finance Association, Nonprofit Facilities Revenue Bond Series 2015 (Boise State University Foundation, Inc. Project).
  • Created an economic development corporation and provided on-going corporation counsel on the construction of Bass Pro Shop located in Altoona, Iowa.
  • Served as corporation and disclosure counsel on the issuance of $51,275,000 Alaska Industrial Development and Export Authority Revenue Bonds (Greater Fairbanks Community Hospital Foundation Project) Series 2014.
  • Counseled the Iowa Finance Authority on its State Revolving Fund Program and served as bond counsel for the issuance of $321,530,000 Iowa Finance Authority State Revolving Fund Revenue Bonds, Series 2015 (Green Bonds).

Industries & Practices

  • Banking
  • Corporate Governance & Compliance
  • Energy
  • Food, Beverage & Agribusiness
  • Health Care
  • Non-Profit & Tax Exempt Organizations
  • 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©, 2005-2018   
  • 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