Jonathan P. Cristy, Shareholder
Mr. Cristy, a shareholder in the firm, represents cities, school districts, water agencies, community services districts, and other public agencies in all aspects of public finance. He primarily serves as bond counsel, disclosure counsel, or agency counsel to these public entities in connection with their debt financings. In other bond financings, he has served as counsel to the underwriter or lender.
As bond counsel, Mr. Cristy advises public agencies concerning the debt options that are available to them. He works with their financial advisors and underwriters to create a legally sound borrowing and to bring the debt securities to market.
As an outgrowth of his experience as a bond lawyer, Mr. Cristy has developed extensive knowledge of related public finance matters, such as the rules for levying taxes, assessments, and fees, and provides counseling to clients and other firm attorneys dealing with those issues. He also advises public agencies concerning the limitations on the use of public funds in connection with bond and tax elections.
In practice since 1983, Mr. Cristy has completed financings using a broad range of borrowing methods such as:
- General obligation bonds
- Certificates of participation
- Lease/purchase agreements
- Qualified zone academy bonds
- Mello-Roos bonds
- Special benefit assessment bonds
- Utility revenue bonds
Examples of debt issuances completed in the past year for which Mr. Cristy served as bond counsel include:
- Herlong Public Utility District 2015 Utility Revenue Bond (principal amount: $3,206,000)
- West Sacramento Area Flood Control Agency Assessment Revenue Bonds, Series 2015 (principal amount: $27,650,000)
- Montebello Unified School District lease financing (2015 Lighting Retrofit Project) (principal amount: $6,800,000)
- Successor Agency to the Redevelopment Agency of the City of West Sacramento West Sacramento Redevelopment Project 2014 Subordinate Tax Allocation Refunding Bond (principal amount: $8,813,730)
- Buckeye Union School District 2014 General Obligation Refunding Bonds (principal amount: $25,735,000)
- Sierra Lakes County Water District Assessment District No. 2011-1 Limited Obligation Improvement Bonds, Series 2014 (principal amount: $7,973,974)
- Woodland Finance Authority Wastewater Revenue Bonds, Refunding Series 2014 (Junior Lein) (principal amount: $33,825,000)
Examples of issues for which Mr. Cristy served as disclosure counsel in the past year include:
- Lennox School District 2014 Certificates of Participation (Jefferson Elementary Project) (principal amount: $4,905,000)
- City of West Sacramento Community Facilities District No. 14 (Newport Estates) Special Tax Bonds, Series 2014 (Refunding and Capital Projects) (principal amount: $6,820,000)
- Proposition 218: Mr. Cristy has advised Kronick clients concerning compliance with the required public approval process for their utility rates and charges.
- USDA Programs: Mr. Cristy has worked with public agencies located in rural areas to devise the interim and long-term borrowing vehicles necessary to implement funding from the United States Department of Agriculture’s rural utilities and community facilities programs.
- Development Mitigation: Mr. Cristy has provided the legal services necessary to form or to annex property to existing Mello-Roos districts and maintenance assessment districts used by public agencies to provide infrastructure and otherwise mitigate the impacts of new development.
Mr. Cristy has made presentations at seminars sponsored by Kronick, League of California Cities, California Special Districts Association, Association of California Water Agencies, California School Boards Association, and University of California/Davis Extension on a variety of public finance subjects including:
- Debt financing methods available to public agencies
- Proposition 218 requirements
- Revenue sources (taxes, assessments, and fees) for public agencies
- Developments in disclosure law
- Collection of delinquent special taxes
J.D. Stanford University, 1983
M.A. Brown University, 1976
B.A. University of North Carolina, 1974