Jack Kraft, ex-Cahill aide pioneered bond counsel law in New Jersey, dies at 86

John L. Kraft, a former aide to Gov. William T. Cahill who helped launch the specialized field of bond counsel and public finance law in New Jersey, died on June 28.  He was 86.

Ove the course of his legal career, Kraft was the bond counsel for 18 counties in New Jersey, as well as hundreds of municipalities, school boards, and state and local authorities.

Cahill named Kraft as his associate counsel less than two weeks after becoming Governor in January 1970.  That position, now known as deputy chief counsel, was second in command behind Cahill’s chief counsel, Pierre Garven.

Kraft developed an expertise in public finance soon after graduating from Yale Law School, and spent three years at Hawkins, Delafield and Wood, a New York law firm that handled most of the bond counsel work for the state of New Jersey.   He later moved to another New York firm that handled bond counsel work for the state, Mudge Rose.

Among his chief projects while working in the governor’s office was financing the New Jersey Sports and Exposition Authority’s construction of a stadium, arena and horse racing track at the Meadowlands.

He left the Cahill administration in 1971 and founded Kraft & Hughes, the first law firm in New Jersey to specialize in bond counsel work.  He later took his expertise to Kraft & McManimon, Lowenstein Sandler, and Waters, McPherson, McNeill.  He was the first bond counsel for the New Jersey Economic Development Authority.

Prior to joining the governor’s office, Kraft had been a member of the Matawan Republican Club.  He had been a top fundraiser for Gov. Tom Kean in 1981, and he made over $1.1 million in legal fees at the EDA in 1982.

The Irvington native served in the U.S. Air Force between Georgetown University and Yale Law school.

A graduate of Georgetown University, Kraft’s first job was at Toner, Crowley, Woelper & Vanderbilt, a Newark firm where future New Jersey Supreme Court Justice Arthur Vanderbilt had practiced.  His time at Mudge Rose in 1969 had immediately followed the departure of Richard Nixon to become the 37th President of the United States, and John Mitchell to serve as his U.S. Attorney General.

Kraft is survived by his wife of 63  years, Anne (known as Joy), and his children, grandchildren and great-grandchildren.  He was predeceased by two of his sons.