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Clay Holland

Partner

Houston

Clayton (“Clay”) Holland is a public finance partner in the Houston office, with extensive experience advising issuers, underwriters, banks, and nonprofit borrowers across a broad range of municipal finance transactions.

Clay has experience serving as bond counsel, underwriter's counsel and bank counsel in tax-exempt financings for cities, counties, school districts, charter schools, junior college districts, special utility districts and nonprofit corporations. He advises clients on various financing structures and techniques, including general obligation financings, utility revenue financings, lease revenue financings, industrial revenue bonds, conduit financings, special assessment financings and tax credit bonds.

Clay also advises governmental clients on general public law matters, including elections, open government and economic development. Before entering private practice, he served as an Assistant Attorney General in the Public Finance Division of the Office of the Attorney General of the State of Texas.

Clay is an active member of the National Association of Bond Lawyers and the Houston Bar Association. He has been recognized by Chambers USA (Band 2, Public Finance) and named to The Best Lawyers in America for Public Finance Law (2024–2025).

“Clayton is technically very proficient.” – Chambers USA

    • Bond counsel for over $5 billion of school district bonds
    • Bond counsel for school districts and charter schools in the issuance and remarketing of variable rate soft put bonds
    • Bond counsel for a school district in the issuance of lease revenue bonds by school district public facility corporation
    • Bond counsel for over $3 billion of charter school bonds, including bonds guaranteed by the Permanent School Fund
    • Bond counsel on multi-jurisdictional lease revenue financing for a charter school
    • Bond counsel for cities obtaining financial assistance through various programs administered by the Texas Water Development Board
    • Bond counsel for municipality in the issuance of revenue bonds secured by special assessments within a public improvement district to finance public infrastructure for a mixed-use development
    • Bond counsel for regional water authority in creating subordinate lien revenue financing system
    • Bond counsel for sports and community venue project district in connection with refinancing professional stadiums and arenas
    • Bond counsel for industrial revenue bonds for solid waste disposal facilities
    • Counsel to underwriters in connection with issuance of over $1 billion in municipal general obligation pension bonds
    • Disclosure counsel for county toll road revenue bonds
    • Counsel for financial institutions in connection with direct purchases of tax-exempt bonds and the issuance of letters of credit and other liquidity facilities

    * experience includes that prior to joining Orrick

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