Sheila Kles

Principal Attorney

Practice Areas

Public Finance
Public-Private Partnerships
Regulatory Compliance
State and Local Tax Law
Contract Law
Nonprofit Law


New York University School of Law, New York, NY
The Juilliard School, New York, NY

Bar Admissions

New York
District of Columbia

Professional Affiliation

National Association of Bond Lawyers


Sheila Kles is a principal attorney with Hardwick Law Firm, LLC. She has been actively involved in the public finance practice since 1989. Her municipal finance experience includes functioning as bond counsel, underwriter's counsel, special disclosure counsel, issuer's counsel, special tax counsel, bank counsel, trustee’s counsel and borrower’s counsel on taxable and tax-exempt financings. Ms. Kles’ work includes assisting with the structuring of transactions and providing tax analysis for tax exempt obligations, in order to facilitate various financings and refinancings, including multi-family residential rental properties, schools, hospitals, nursing homes, electrical power facilities, water and sewage facilities, airports, governmental facilities and other governmental obligations.

Ms. Kles experience includes working on financings for general obligation bonds, revenue bonds, tax and revenue anticipation notes, commercial paper, 501(c)(3) bonds for hospitals, schools and other 501(c)(3) entities, pooled bond programs, multi-family housing bonds, student loan bonds, as well as bonds for exempt facilities. She has also served as bond counsel for pooled governmental bond programs in Virginia, New Jersey and Puerto Rico, and pooled bond programs for 501(c)(3) exempt organizations. She has been essential in providing analysis of state and local tax for various states, with a special emphasis on Ohio, Pennsylvania, New York, Florida and Puerto Rico. Ms. Kles also has vast experience providing numerous arbitrage and rebate calculations and tracings of expenditures.

Ms. Kles has wide range of experience drafting transaction documents, tax certifications, offering statements, blue sky surveys and all other bond documents; providing tax analysis for tax-exempt obligations; negotiating various financial products such as reimbursement agreements, swaps and other derivatives; advising on compliance with securities and disclosure laws; advising on disclosure issues and post-issuance compliance; as well as providing guidance with respect to rebate calculations and expenditure exceptions from rebate.

Additionally, Ms. Kles is conversant in providing clients with tax advice for federal and state tax issues including the formation and taxation of S Corporations and 501(c)(3) subsidiary Limited Liability Companies, structuring public-private partnerships for transportation infrastructure financings; facilitating large working capital financings; negotiating various financial products such as reimbursement agreements, swaps and other derivatives.

She was instrumental in providing tax analysis for the privatization of the Pennsylvania Turnpike, including realty transfer taxes, public utilities tax, sales tax, business privilege tax, various state and local ramifications; as well as assisting in the drafting of legislation. Additionally, Ms. Kles was also involved in structuring the first tax-exempt Florida Hurricane Catastrophe Fund, which was the first such tax-exempt fund, involving the drafting of an IRS ruling request and negotiating with the IRS.