Process and architecture for structuring facilities revenue bond financing

Abstract

In accordance with at least one embodiment of the invention, a process and architecture may be implemented to structure bond financing or refinancing for facilities construction and/or renovation to improve economic and business terms for involved or interested parties.

1 . A process for obtaining financing, the process comprising: 
 forming a single-purpose business entity, with at least one operating requirement that establishes separateness of the single-purpose business entity from one or more separate business entities;    transferring the one or more separate business entities' facility or equipment lease obligations to the single-purpose entity;    assigning rights to revenues of the facility or equipment to the single-purpose entity;    forming a lessee relationship with the single-purpose entity; and    securing bond financing for the facility or equipment on a basis supported by revenue-producing potential of the facility or equipment.    
     
     
         2 . The process of  claim 1 , further comprising treating the single-purpose business entity as a disregarded entity if there is only one separate business entity or treating the single-purpose business entity as a partnership if there is more than one separate business entity.  
     
     
         3 . The process of  claim 1 , wherein securing bond financing is issued on a basis supported by the creditworthiness of the facility or equipment.  
     
     
         4 . The process of  claim 1 , wherein securing bond financing includes refinancing existing bonds on a basis supported by the creditworthiness of the facility or equipment.  
     
     
         5 . The process of  claim 1 , wherein the process restructures a ground lease/lease assignment/subleaseback architecture.  
     
     
         6 . The process of  claim 1 , wherein the process restructures a ground lease plus loan architecture.  
     
     
         7 . The process of  claim 1 , wherein the at least one operating requirement that establishes separateness of the single-purpose business entity from the one or more separate business entities establishes a board of managers including at least two independent managers unrelated to the one or more separate business entities.  
     
     
         8 . The process of  claim 7 , wherein the at least one operating requirement that establishes separateness of the single-purpose business entity from the one or more business entities is that the single-purpose business entity is not authorized to liquidate or to file in bankruptcy without approval of all its managers, including the independent managers.  
     
     
         9 . The process of  claim 1 , wherein the single-purpose business entity is an LLC.  
     
     
         10 . The process of  claim 1 , wherein the single-purpose business entity is a Delaware business trust.  
     
     
         11 . The process of  claim 1 , wherein the financing is for purchase, construction or renovation of a public use facility or equipment.  
     
     
         12 . The process of  claim 1 , wherein the financing is for purchase, construction or renovation of an airport-related facility or equipment.  
     
     
         13 . The process of  claim 1 , wherein the financing is for purchase, construction or renovation of a facility or equipment for a port facility, competition or performance theater or arena.  
     
     
         14 . The process of  claim 1 , wherein the financing is for purchase, construction or renovation of a facility or equipment for road transportation, rail transportation or a maritime port.  
     
     
         15 . An architecture for obtaining financing, the architecture comprising: 
 a single-purpose business entity, with at least one operating requirement that establishes separateness of the single-purpose business entity from one or more separate business entities;    at least one transfer document that transfers the one or more separate business entities' facility or equipment lease and loan obligations to the single-purpose entity;    at least one assignment document that transfers the one or more separate business entities' rights to revenues of the facility or equipment to the single-purpose entity;    at least one lease document that forms a lease relationship between the single-purpose entity and the one or more separate business entities, with the one or more separate business entities as a lessee of the single-purpose entity; and    wherein bond financing for the facility or equipment may be made on a basis supported by revenue-producing potential of the facility or equipment.    
     
     
         16 . The architecture of  claim 15 , wherein the bond financing is issued on a basis supported by the creditworthiness of the facility or equipment.  
     
     
         17 . The architecture of  claim 15 , wherein the financing is for purchase, construction or renovation of a public use facility or equipment.  
     
     
         18 . The architecture of  claim 15 , wherein the financing is for purchase, construction or renovation of an airport-related facility or equipment.  
     
     
         19 . The architecture of  claim 15 , wherein the financing is for purchase, construction or renovation of a facility or equipment for a sports stadium, competition facility, performance theater or arena.  
     
     
         20 . The architecture of  claim 15 , wherein the financing is for purchase, construction or renovation of a facility or equipment for road transportation, rail transportation or a maritime port.  
     
     
         21 . The architecture of  claim 15 , wherein the at least one operating requirement that establishes separateness of the single-purpose business entity from the one or more separate business entities comprises a board of managers including at least two independent managers unrelated to the airline.  
     
     
         22 . The architecture of  claim 21 , wherein the at least one operating requirement that establishes separateness of the single-purpose business entity from the one or more separate business entities is that the single-purpose business entity is not authorized to liquidate or to file in bankruptcy without approval of all its managers, including the independent managers.  
     
     
         23 . The architecture of  claim 15 , wherein the single-purpose business entity is an LLC.  
     
     
         24 . The architecture of  claim 15 , wherein the single-purpose business entity is a Delaware business trust.  
     
     
         25 . The architecture of  claim 15 , wherein the financing is for purchase, construction or renovation of a public use facility or equipment.  
     
     
         26 . The architecture of  claim 15 , wherein the financing is for purchase, construction or renovation of an airport-related facility or equipment.  
     
     
         27 . The architecture of  claim 15 , wherein the financing is for purchase, construction or renovation of a facility or equipment for a sports stadium, competition facility, performance theater or arena.  
     
     
         28 . The architecture of  claim 15 , wherein the financing is for purchase, construction or renovation of a facility or equipment for road transportation, rail transportation or a maritime port.