Bryan D. Victor, a partner in the Sacramento office, has been a member of the Public Finance practice group since 2003. His practice includes bond, disclosure, issuer’s and underwriter’s counsel work for tax-exempt and taxable financings.  His practice is focused primarily on transactions for 501(c)(3) organizations, with a focus on health care transactions (he has worked on more than 115 health care transactions as bond, disclosure or underwriter's counsel through 2018), the State of California and the California Department of Water Resources.
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Bryan has experience with many structures used in public finance, including master trust indentures, fixed and variable rate bonds, direct purchases, delayed delivery bonds, insurance, letters of credit and other credit or liquidity agreements; commercial paper programs; conversions and reofferings.  Bryan has extensive experience working with stand alone hospitals, health care clinics and large health systems.  He provides annual and bi-annual federal securities law training for staff of the State of California Treasurer's Office, the State of California Department of Finance, the State Controller's Office, CalPERs and other state agencies and applies that securities law expertise on health care transactions.   Bryan is the lead partner for general public finance matters for the State of California as bond and disclosure counsel, including the issuance of general obligation commercial paper notes, general obligation bonds and revenue anticipation notes, negotiation and review of credit and liquidity agreements related to such obligations and disclosure related to same. 


  • The following are representative transactions for Bryan's legal practice since joining Orrick in 2003.

    • The Cleveland Clinic Foundation: $400,000,000 of direct issue taxable bonds (century bond), underwriter's counsel.
    • Arizona Health Facilities Authority: $150,000,000 of Variable Rate Refunding Bonds (Phoenix Children's Hospital), underwriter's counsel.
    • Washington Health Care Facilities Authority: $60,000,000 of Revenue Bonds, (Multicare Health System), bond counsel.
    • Washington Health Care Facilities Authority: $3,440,000 of Revenue Bonds (Provail) (Private Placement Program), bond counsel.
    • Louisiana Public Facilities Authority: $114,800,000 of Refunding Revenue Bonds (Ochsner Clinic Foundation Project), underwriter's counsel.
    • University of Colorado Hospital Authority: $197,350,000 of Refunding Revenue Bonds for University of Colorado Health (Self-Liquidity and Liquidity Facility supported Bonds), disclosure counsel.
    • State of California: $1,092,355,000 of Tax-Exempt and Taxable General Obligation Bonds, bond and co-disclosure counsel.
    • State of California Department of Water Resources: $183,960,000 of Water System Revenue Bonds, (delayed delivery), bond and disclosure counsel.
    • State of California Department of Water Resources: $959,565,000 of Power Supply Revenue Bonds, disclosure counsel and special counsel to the Department.
    • California Infrastructure and Economic Development Bank: $162,955,000 of Variable Rate Revenue Refunding Bonds (The J. Paul Getty Trust), bond counsel.      
    • M-S-R Energy Authority: $901,620,000 of Gas Revenue Bonds, bond and disclosure counsel.
    • California State Public Works Board: $62,950,000 of Lease Revenue Bonds, bond counsel.

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