The National Association of Bond Lawyers will present Rep. Dutch Ruppersberger, D-Md., with the Bernard P. Friel Medal and David Cholst with the Federick O. Kiel Distinguished Service Award for their individual contributions to NABL and the industry over the past four decades.
These will be distributed during the 2024 NABL Workshop, which will be held in Chicago from September 18 to 20.
Ruppersberger will retire at the end of the 118th Congress on January 2, 2025, ending a 38-year career in public service and 22 years in the House of Representatives. Within municipal finance, Ruppersberger founded the bipartisan House Municipal Finance Caucus in 2016 based on his previous experience as an elected official on the Baltimore County Council. He currently serves on the House Appropriations Committee, the Defense Subcommittee, and the Commerce, Justice, and Science Subcommittee.
Ruppersberger was first elected to the Baltimore County Council in 1985, re-elected in 1989, and twice elected council president. He was later appointed Baltimore County Executive in 1994 and 1998.
A native of Baltimore City, he spent his summers as a lifeguard in Ocean City, Maryland, and as a police officer. He attended Baltimore City College and the University of Maryland College Park, where he played lacrosse. He holds a JD from the University of Baltimore Law School.
David Cholst spent his career with Chapman and Cutler in Chicago. He joined the firm in 1983 and worked his way up to partner in the tax department, where he represented 501(c)(3) organizations, government issuers, underwriters and legal counsel in all matters related to tax-exempt bonds.
His work has included counseling on 501(c)(3) financings, tax increment financing, prepayments and their alternatives, structured investments, derivatives, output facilities, prepayment transactions, voluntary closing agreements, and defense in IRS audits of tax-exempt bonds.
From 2009 to 2012, Cholst served on the Tax-Exempt and Government Entities Advisory Committee, where he provided feedback to the Internal Revenue Service. He also served on the NABL Steering Committee for The Workshop and The Institute.
His other activities at NABL included various joint projects such as those related to political subdivisions, working capital finance, SLGS, derivative products and appraisals. He recently retired.
