Private Activity Bonds

McCall has been involved in some of the major public-private economic projects in Texas. McCall played a leading role in developing the allocation statute that authorizes the reservation of Texas volume cap to enable private activity housing, solid waste, student loan, small issue and other private activity bonds to be eligible for tax-exempt treatment. The firm was an active participant in helping draft the rules that govern the issuance of small issue manufacturing bonds in Texas.

Solid Waste, Sewage and Recycling

McCall has worked closely with investment bankers and issuers both within and outside of Texas in analyzing and structuring single family and multi-family housing, pollution control, solid waste and student loan bond transactions. The firm has served as bond counsel on numerous private activity bonds benefiting various companies, including TXU Electric, Reliant Energy, Exxon/Mobil, BP/Amoco, Total Petrochemicals, Formosa Plastics and Dow Chemical Company. McCall served as bond counsel on financings for the reconstruction of facilities destroyed by Hurricane Ike.

The firm also represented clients on numerous financing of waste-to-energy facilities, recycling processes, landfills, and other final disposal processes. McCall’s extensive experience with financings involving private entities and project revenue financings for the development of privately owned or operated facilities ensures access and familiarity with a breadth of financing structure and technique, including variable rate obligations, letter of credits and corporate guarantee, and interest rate hedges.


The firm’s experience in multi-family housing transactions is second to none in the State of Texas, as we have represented more issuers of multi-family housing transactions in the State than any other law firm. This includes financings with GNMA and Freddie Mac’s guarantees, and low-income housing tax credit transactions.

Student Loans

McCall also has significant experience with the issuance of private activity bonds to finance student loans, serving as bond counsel on student loan financings since to the inception of the State’s Hinson-Hazlewood College Student Loan Program in 1965.

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