S. Frank D'Ercole

S. Frank D'Ercole

Of Counsel

S. Frank D'Ercole

Of Counsel

  • Overview

    Biography

    Frank D'Ercole is a retired partner of the firm with more than 35 years of experience representing issuers of tax-exempt and taxable bonds as bond counsel and representing underwriters, lenders, borrowers, and trustees in a variety of debt transactions. As bond counsel, he represented many of the largest issuers in Massachusetts, Connecticut, and New Hampshire.

    Mr. D'Ercole also served as bond counsel to the State of Connecticut since the early 1970s and was involved in the creation of many of the state's major bond programs. He drafted much of the state's legislation governing the authorization and issuance of municipal and state borrowings. He is especially knowledgeable in the area of transportation infrastructure programs. He was instrumental in the development, drafting, and implementation of legislation to create an enterprise fund at Bradley International Airport providing for revenue bonds to fund major airport improvements and for legislation to establish the state's highly innovative Special Tax Obligation Bond program for transportation infrastructure purposes.

    Mr. D'Ercole had primary responsibility for the firm's service as borrower's counsel and bond counsel to the Mashantucket Pequot Tribe in connection with the tribe's issuance of over $1 billion of tax-exempt and taxable indebtedness in a series of unprecedented financing transactions during the 1990s, which were the first borrowings of their kind by a Native American tribe. The tribe was the first Native American tribe to obtain an investment grade rating from the major rating agencies on its obligations. He had primary responsibility for the firm's service, as underwriters' counsel, to syndicates led by Bear Stearns & Co. Inc., UBS PaineWebber Inc., and Goldman Sachs & Co., respectively, in a series of transactions for both the Massachusetts Port Authority and the Massachusetts Water Resources Authority.

    Mr. D'Ercole represented several municipalities that participated in public-private partnerships with developers of major multiuse development projects in their respective municipalities. Examples are Blue Back Square in West Hartford and the West Avenue (Waypointe) development project in Norwalk. He had primary responsibility for the development of agreements and revenue sources from special services district taxes and parking revenues as security for the repayment of municipal bonds issued to fund the municipal component of the projects.

  • Experience
    • Experience

      Experience

      • Represent the treasurer of the State of Connecticut as trustee for the State's retirement plans and trust funds. Handled a series of investments in various equity/hedge funds on the State's behalf, most recently, a $40 million investment in a private equity fund. Services include performing due diligence and negotiating and drafting documents.
      • Representation of Connecticut Retirement Plans and Trust Funds concerning an investment in RFE Investment Partners VII, L.P. The investment required a $40 million commitment by the treasurer on behalf of the Connecticut Retirement Plans and Trust Funds.
      • Representation of Connecticut Retirement Plans and Trust Funds concerning an investment in RFE Investment partners VII, L.P. The investment required a $40 Million commitment by the Treasurer on behalf of the Connecticut Retirement Plans and Trust Funds.
      • Representation of Connecticut Retirement Plans and Trust Funds concerning an investment in RFE Investment partners VII, L.P. The investment required a $40 Million commitment by the Treasurer on behalf of the Connecticut Retirement Plans and Trust Funds.
    • Professional Associations

      Professional Associations

      National Association of Bond Lawyers
      Bankruptcy Committee, Chairperson
      Legislative Action and General Obligation Bond Committees, Chairperson

      Connecticut Governor's Commission on Local Government

      Connecticut Association of Municipal Attorneys
      President

      U.S. Conference of Mayors

      Government Finance Officers Association

      National Association of State Treasurers

      National League of Cities
    • Honors + Awards

      Honors + Awards

      AV® Preeminent™ Peer Review Rated in Martindale-Hubbell™ in the areas of Finance, Securities, and Government (Martindale-Hubbell Peer Review Ratings is a trademark. AV Preeminent is a certification mark of Reed Elsevier Properties, Inc.)

      Listed in The Best Lawyers in America© in the area of Public Finance Law since 2005

  • NEWS + PRESS
    • Publications

      Publications

      "State of Connecticut Special Tax Obligation Bonds Act"

      "Tax Increment Financing Bonds"

      "State of Connecticut Tax-Exempt Investment Fund"

      "Revisions to state-enabling legislation/municipal bonds, including refunding bonds, commercial paper, variable rate obligations, interest rate swaps, and derivatives"

      "Revisions to State of Connecticut General Obligation Bond Procedure Act"

      "State of Connecticut Clean Water Fund Bonds Act"

      "State of Connecticut Bradley International Airport Revenue Bonds Act"

      "Revisions to Ch. 130 and Ch. 132 – Redevelopment and Development Project Bonds"

    • News

      R+C News Releases

      • August 15, 2017

        Fifty-Nine Robinson+Cole Lawyers Listed in The Best Lawyers in America© 2018

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      • August 15, 2016

        Robinson+Cole Receives Top Listing in Connecticut Lawyer Count in The Best Lawyers in America® 2017

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      • August 18, 2015

        Robinson+Cole Receives Top Listing in Connecticut Lawyer Count in The Best Lawyers in America® 2016

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      • August 19, 2014

        Robinson+Cole Receives Top Listing in Connecticut Lawyer Count in Best Lawyers National Peer Review Survey

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      • August 16, 2013

        Robinson & Cole Receives Top Listing in Connecticut Attorney Count in Best Lawyers National Peer Review Survey

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      • August 28, 2012

        Robinson & Cole Receives Top Listing in Connecticut Attorney Count in Best Lawyers National Peer Review Survey

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