The National Association of Bond Lawyers (NABL) has renamed its Fundamentals of Municipal Bond Law Seminar scholarship program in memory of Frederic L. “Rick” Ballard, Jr., a Ballard Spahr partner who was a pioneer of American bond law and a lifelong NABL supporter.

The program, which defrays the cost of fees, lodging, and travel for law students attending the annual seminar, will now be known as the Frederic L. Ballard Jr. Memorial Scholarship Program. The name change was announced in late September during the General Session of NABL’s 39th Annual Bond Attorneys’ Workshop in Chicago. Mr. Ballard, who had been undergoing treatment for lung cancer, died on May 11.

“Rick’s contributions to the advancement of public finance law are immeasurable,” said firm Chair Mark Stewart. “He had a relentless zeal to equip legal practitioners with the knowledge they need to understand the fundamentals of the law, and so it’s fitting that NABL is recognizing his legacy in this way.”

Over a career that spanned nearly five decades, Mr. Ballard represented government agencies, investment banks, nonprofits, and other borrowers of tax-exempt bonds. He played a leading role in the bond financings of some of the nation's largest public buildings, including the Denver International Airport and the Pennsylvania Convention Center in Philadelphia.

His tenure at Ballard Spahr—founded in the late 1800s by his great-grandfather, Ellis Ames Ballard—included serving as Chair of the Public Finance Department from 1995 to 2000. In addition, he was the author of ABCs of Arbitrage: Tax Rules for Investment of Bond Proceeds by Municipalities (American Bar Association, 2011), a seminal reference work originally published in 1978 and used by public officials, municipal bond attorneys, and investment bankers.

Mr. Ballard had been active in NABL since the organization’s incorporation in 1979 and served as its Director and the Chair of its Tax Committee. He was the recipient of NABL’s Bernard P. Friel Medal for Service in Public Finance (2005) and Frederick O. Kiel Distinguished Service Award (2007), making him one of the few people ever to win both.

“Ballard Spahr’s longstanding support of NABL and its mission has been rooted in Rick’s involvement with the organization from its infancy,” said Public Finance Department Chair William C. Rhodes. “NABL’s scholarship program will provide a lasting tribute to him and his work.”

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