Kirton McConkie closes $185 million letter of credit for UTOPIA

Press Release
04.29.2011

Kirton McConkie’s David Shaw, a Business attorney specializing in information technology and telecommunications, served as borrower’s counsel for the Utah Telecommunication Open Infrastructure Agency (UTOPIA) to close a one-year extension on a $185 million letter of credit on April 28, 2011. The letter of credit secures UTOPIA's existing municipal revenue bonds to build the nation's most advanced communications infrastructure. Mr. Shaw also serves as UTOPIA's General Counsel and as legal counsel to other fiber optics projects across the country.

UTOPIA, a Kirton  McConkie client, connects fiber directly to customers’ homes and businesses, allowing them to receive unmatched clarity and speed without interruptions from copper wiring and shared connections with neighbors.To date, 16 Utah cities have joined together to create one of the nation's largest and fastest fiber-optic networks, while residents the freedom to choose their own Internet provider.
 
Mr. Shaw represents municipalities and governmental agencies, including the use of complex governmental finance mechanisms to launch innovative projects. He has also served as issuer's counsel in various municipal bond transactions.

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