J. Shepherd Russell III is the firm's Managing Partner.  He has practiced exclusively in the area of public finance since 1978. His practice encompasses bond and other debt offerings issued by or on behalf of the various public instrumentalities in Arkansas and elsewhere. Shep's work is focused on the financing of public and nonprofit projects throughout Arkansas, including bonds sold by underwriters, bonds placed with governmental agencies and local banks, bonds sold at public sale, bonds rated by national rating agencies and insured bonds. The bond issues have been structured as new money issues, refunding (advance and current) issues, and a combination of new money and refunding. He has served as bond counsel, underwriter's counsel and trustee's counsel in these transactions. In these capacities, he has prepared rate, election, and bond ordinances, trust indentures, resolutions, continuing disclosure statements, opinions, arbitrage certificates, official statements, escrow agreements, and closing papers.

Chambers and Partners USA ranks Shep in the first band (highest ranking) for Corporate/Commercial: Municipal Bonds. As a testament to the esteem in which he is held by his peers, he is listed in The Best Lawyers in America for four areas of law: Municipal Law—Finance; Project Finance Law; Public Finance Law—Municipal; and Structured Finance Law.

• University of Arkansas School of Law, J.D., 1978; Arkansas Law Review, Comments Editor, 1977
• University of North Carolina, B.A., History, 1975

• Adjunct Professor, Public Finance, University of Arkansas, Clinton School of Public Service

• Best Lawyers in America, Public Finance and Municipal Law
• Selected by attorney peers for inclusion in Mid-South Super Lawyers, 2009

BOND COUNSEL FOR:

• $117,420,000 City of Fort Smith, Arkansas Water and Sewer Refunding and Construction Revenue Bonds, Series 2008
• $51,960,000 Board of Trustees of the University of Arkansas Various Facility Revenue Bonds (Fayetteville Campus), Series 2008A and 2008B
• $242,855,000 State of Arkansas Higher Education General Obligation Bonds, Series 2007A, 2007B and 2007C
• $10,000,000 Hempstead County, Arkansas Sales and Use Tax Bonds, Series 2008
• $38,760,000 Northwest Arkansas Conservation Authority Wastewater Revenue Bonds, Series 2008B

• National Association of Bond Lawyers
• Arkansas Bar Association
• Pulaski County Bar Association

• Phi Alpha Delta

• Arkansas, 1978