Overview: Wye River Group served a financial advisor to the U.S. Department of Defense (“DoD”) and the Maryland Economic Development Corporation (“MEDCO”) in connection with the structuring and issuance of $28,160,000 Taxable Lease Revenue Bonds in 2003 for the Laboratory for Telecommunications Sciences (“LTS”), a crucial asset of the U.S. homeland security initiative. As financial advisor for this important transaction and first ever bond financing for a mission critical DoD project, we worked closely with the DoD, the U.S. Army Corps of Engineers (“COE”), MEDCO, Corporate Office Properties Trust and the University of Maryland in structuring a financing to achieve the expedited development of the LTS facility. Our services included (1) building a sophisticated financial model for both project development and project debt financing, (2) structuring the terms of the project debt financing to achieve an investment grade rated, long term taxable bond issue which could be supported by rental rates which had already been approved by Congress, (3) structuring and negotiating the facility lease and ground lease for the project as well as all of the other related legal documents, (4) soliciting and obtaining credit enhancement for the bonds, (5) scheduling and coordinating the activities of all of the project team members and attorneys, (6) managing the sale of the bond issue and structuring the investment of the bond proceeds and (7) performing general quantitative, analytical and logistical support. Interestingly, the bonds were offered and sold competitively which produced excellent results in terms of interest cost and lower costs of issuance than what a negotiated issue would have required.