Hobby is a Shareholder in the Firm's Public Finance and Health Care Practice Groups.

His 35+ years in practice have included large and small health care merger and acquisition transactions, as well as experience representing borrowers and issuers in ruling requests, tax controversy, rebate, audit, and voluntary closing agreement matters before the IRS. Hobby's public finance practice is national in scope, and he has served as underwriter's counsel, bond counsel, disclosure counsel, purchaser's counsel, and borrower's counsel for issues totaling over $9.8 Billion in just the past several years. Throughout his career, Hobby has been an active member of the National Association of Bond Lawyers, including serving as the organization’s President.

Hobby has also been active in the Pro Bono arena, having served as counsel to the City of Birmingham in preparation for The World Games to be held in Birmingham in 2022 as well as counsel to Birmingham Rotary Club in financing for the Rotary Trail in 2015.

Community & Professional

  • National Association of Bond Lawyers, President 2000-2001; Bond Attorney’s Workshop Chairman (1998)
  • American Bar Association
  • Alabama State Bar
  • Birmingham Bar Association
  • Pro Bono Counsel to the City of Birmingham in preparation for The World Games, Birmingham 2021
  • Pro Bono Counsel to Birmingham Rotary Club in financing for Rotary Trail (2015)
  • Youthserve Board of Directors
  • Alabama Appleseed Project (2010)
  • Birmingham Rotary Club (1996-present)


  • Vanderbilt University -
    • Counsel to Vanderbilt University in the securitization of payment obligations from the Vanderbilt University Medical Center to Vanderbilt University; the transaction resulted in a substantial addition to the endowment of Vanderbilt University (2018)
    • Counsel to Vanderbilt University in the transfer of medical center assets to the newly formed Vanderbilt University Medical Center (2015-2016)
  • The Birmingham-Jefferson Civic Center Authority – Bond counsel for the issuance of $301.055 million Series 2018 A-F Bonds to finance the renovation of the Legacy Arena and construction of a new stadium (2018)
  • Underwriter’s counsel to Merrill Lynch, Pierce, Fenner & Smith Incorporated for the issuance of The Oklahoma Development Finance Authority Health System’s $911.2-million Series 2018B Bonds and The Oklahoma Development Finance Authority’s $251-million Taxable Series 2018C Bonds for the benefit of Oklahoma University Medical Center (2018)
  • UAB Medicine Finance Authority – Special counsel to a newly formed obligated group and bond counsel in connection with the issuance of $367.7-million Series 2016 Bonds and $237.4-million Series 2017 Bonds. The UAB Medicine Finance Authority was formed in 2016 to issue bonds for several UAB-related entities, including the UAB Health System, University Hospital, Callahan Eye Hospital Health Care Authority, and the University of Alabama Health Services Foundation, P.C. (2016-2017)
  • Total Return Swap Private Letter Ruling 201502008 - Counsel to swap counterparty in application for ruling that extension of total return swap is not an abusive arbitrage device under §1.148-10(a) of Internal Revenue Code Regulations; and swap not integrated with bonds under authority of Commissioner in §1.148-10(e) of the Regulations (2014-2015)
  • Jefferson County Bankruptcy and Debt Restructuring - Counsel to Jefferson County in pre-default, bankruptcy and debt restructuring negotiations, and Bond Counsel for $1,785,486,521 Sewer Revenue Warrant issue (2008-2013)
  • Competitive Sale to Financial Institutions and Broker Dealers - University of Alabama at Birmingham (“UAB”) Series A-D Bonds: Bond Counsel to UAB in $238,825,000 in bond financings for campus improvements, including student housing (2013)
  • Cancer Center Acquisition - The Health Care Authority for Baptist Health, An Affiliate of UAB Health System: Counsel to the Authority in connection with acquisition of Montgomery Cancer Center (2012)
  • Healthcare Commercial Paper Program - Counsel to The Healthcare Authority of the City of Huntsville (Huntsville Hospital) in establishment of $200,000,000 commercial paper program (2008)
  • Expert Witness for United States Department of Justice - Hargrove & Constanzo v. United States of America et al:: written report and testimony related to assessment against California bond attorney of a Section 6700 penalty in connection with bond opinions given by the attorney in 18 land-based tax-exempt bond issues underwritten by Pacific Genesis Group (2008)



  • Recognized by Chambers USA, America’s Leading Lawyers for Business, Alabama, Public Finance (2018 - Present)
  • The Best Lawyers in America© for Public Finance Law (2003 - present); Health Care Law (2020 - present); Banking and Finance Law (2021 - present); Project Finance Law (2021 - present)
  • Best Lawyers® "Lawyer of the Year" for Public Finance (2011), Project Finance Law (2022)
  • Mid-South Super Lawyers for Government Finance (2008 - present)
  • Distinguished as “The Best of the Bar” for 2020 by the Birmingham Business Journal
  • American College of Bond Counsel
  • The Carlson Prize, awarded by the National Association of Bond Lawyers for best scholarly article submitted for publication in The Bond Lawyer (2012)



  • State Bar: Alabama
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