David M. DiSegna

Counsel

David focuses his practice in the area of public finance. He serves as bond counsel to numerous governmental entities, underwriter’s counsel, purchaser’s counsel, and borrower’s counsel. He has been involved in the issuance of over $3.5 billion in tax-exempt securities in various types of transactions, including public offerings, direct bank purchases, and conduit issuances for both new money and refinancing of existing debt, as well as tax-exempt lease financing transactions. David also provides specialized tax advice to governmental clients in connection with new bond issuances and outstanding debt.

He represents both lenders and borrowers in a variety of commercial finance transactions, including asset based, commercial and industrial, and real estate financings.

David has also provided legal advice to public entities with respect to the financing, design, construction, operation, and maintenance of various types of public projects, including municipal buildings and water, sewer, and solid waste facilities.

His practice also includes representing businesses and non-profit entities in intellectual property matters, including trademark applications and maintenance, as well as asset purchases and general corporate governance and compliance matters. Prior to beginning his practice, David served as a law clerk to The Honorable Francis X. Flaherty of the Rhode Island Supreme Court.

Practice Areas

Commercial Finance

Corporate & Business

Intellectual Property

Nonprofit & Tax-Exempt

Public Finance

Education

Roger Williams University School of Law, J.D., magna cum laude – Articles Editor, Law Review

Boston University, B.A., magna cum laude

Bar Memberships

Rhode Island

Massachusetts

New York

Professional Affiliations

National Association of Bond Lawyers
Rhode Island Bar Association

Boards

Rhode Island Catholic Cemeteries Advisory Board
St. Mary’s Feast Society

Representative Transactions

David served as bond counsel for the remediation of the $138,265,000 Rhode Island Health and Educational Building Corporation Hospital Financing Revenue Refunding Bonds, Care New England Issue, Series 2016 B, which remediation was required to preserve the tax-exempt status of the bonds in connection with the 2022 sale of certain bond-financed assets. The remedial action was undertaken pursuant to Treasury Regulations Section 1.142-12(e) through the alternative use of disposition proceeds and involved extensive tax advice and careful structuring to ensure that the sale of assets and the use of the proceeds thereof did not jeopardize the tax-exempt status of the 2016 B Bonds.
David served as bond counsel to the Rhode Island Health and Educational Building Corporation for the issuance of its $85,000,000 Public Schools Revenue Bonds, Series 2022 F on behalf of the Town of Johnston. The bonds were issued to finance school construction projects within the Town, including construction of a new elementary school and an early childhood center, and major renovations at the Town’s middle and high schools.
David served as bond counsel to the State of Rhode Island for its 2019 issuance of $221,150,000 of General Obligation Bonds. The issuance included three series of bonds, two of which were tax-exempt and the third federally taxable. The taxable series was competitively sold, and the tax-exempt bonds were sold through a negotiated sale and issued in minimum denominations of $1,000 to allow for greater retail investment. The bonds provided financing for numerous projects within the State, including $70,000,000 for school construction. The issuance also included a tax-exempt advance refunding of $80,000,000 in outstanding taxable, direct payment tax credit Recovery Zone Economic Development Bonds issued in 2010, which resulted in over $6.7 million in debt service savings for the State.
David served as bond counsel for the Rhode Island Convention Center Authority’s $45 million, 2018 Series A Bonds, which were issued to finance the parking garage and related commercial and retail space adjacent to the Garrahy Courthouse in Providence. David was also bond counsel to the Convention Center Authority for the issuance of its $68,720,000, 2017 Series A Refunding Revenue Bonds, which will provide over $5.7 million in net present value savings for the Authority.
David acted as co-bond counsel for the Rhode Island Commerce Corporation’s issuance of its Series 2016A Grant Anticipation (GARVEE) Refunding Bonds and Series 2016B GARVEE Bonds, which were issued under the State’s RhodeWorks program and provided almost half a billion dollars of financing to fund road, bridge and other transportation projects within the State.