Hairston

Tray focuses his practice on public finance and economic development. Before joining the firm, he served as Counsel and Economic Development Advisor to Mississippi Governor Phil Bryant. He has served as Bond Counsel for various cities and counties throughout Mississippi and the Southeast. Tray is a Certified Economic Developer (CEcD) through the International Economic Development Council.

• Public Finance
• Economic Development
• Tax Credits
• Governmental Finance

Tray Hairston concentrates his practice on public finance and economic development matters, including all types of municipal bond issues, serving as bond counsel for both taxable and tax-exempt financings. He has served as bond counsel for various cities and counties and has worked on transactions totaling more than $2 billion.

Prior to his legal career, Tray served as counsel and economic development policy advisor to Mississippi Gov. Phil Bryant. He was also a member of the Business Development Division at the Mississippi Development Authority where he provided project management assistance to companies and consultants looking to locate new businesses in Mississippi. Hairston regularly publishes scholarly legal articles. One of his seminal papers is titled, “The Future of Economic Development, 35 Miss. C.L. Rev. 370 (2017)”. The Bond Buyer also recognized Tray as a Rising Star. The publication’s Rising Stars program honors 28 municipal finance professionals under the age of 40 throughout the country whose leadership, collaborative spirit and innovative work with issuers has positively impacted their communities. Rising Stars are nominated by their peers, and submissions are judged by a panel of municipal finance leaders throughout the country as well as The Bond Buyer’s editorial leadership team.

Tray is a Certified Economic Developer (CEcD) through the International Economic Development Council. In his role as a CEcD, Tray provides economic development consulting advice to communities and site selection consulting to companies throughout the U.S. Tray has been recognized by Mid-South Super Lawyers® for Government Finance (2016-2021), Mississippi College School of Law as Young Lawyer of the Year (2013) and Mississippi Business Journal as one of its Top 40 under 40 (2012-2013). He is a member of the National Association of Bond Lawyers, International Economic Development Council, Southern Economic Development Council, Mississippi Economic Development Council, and Mississippi Bar Association. He received his undergraduate degree from Tougaloo College, his MBA from Belhaven College, and his Juris Doctor from the Mississippi College School of Law.

• Developer’s Counsel 
  • Developer’s Counsel and Incentive Counsel to $100M+ Tradition Medical & Learning City (Biloxi, MS).
• Tax Rebate Counsel and Incentive Counsel
  • $35,175,197 Topgolf International, Inc., Tourism Tax Rebate Incentive Project (Ridgeland, Mississippi).
  • $31,300,000 City of Monroe, Louisiana Cooperative Endeavor Agreement Incentive (The Hotel Monroe Project).
  • $44,282,128 PIAM, LLC Tourism Tax Rebate Incentive Project (Flowood Hotel & Conference Center Project).
  • $23,996,499 Meridian Downtown Hotels, L.L.C. Tourism Tax Rebate Incentive Project (Threefoot Building Courtyard Marriott Project).
  • $22,500,000 Hattiesburg Hospitality H.I., LLC Tourism Tax Rebate Incentive Project (Indigo Hotel Project, Hattiesburg, Mississippi).
  • $40,000,000 Claiborne at Adelaide, LLC Health Care Industry Zone Project.
• COPs or Lease Purchase Counsel 
  • $72,000,000 Warren County, Mississippi Lease Purchase Jail Project, Series 2023
  • $9,991,214 City of Meridian, Mississippi Equipment Lease Purchase Agreement Transaction, March 1, 2018.
  • $1,000,000 Promissory Note (Kemper County, Mississippi Lease Purchase Project A), Series 2015.
  • $13,554,500 Moss Point, Mississippi Tax-Exempt Energy Equipment Lease-Purchase Agreement Transaction, Series 2015.
• Bond Counsel 
  • $5,000,000 City of McComb, Mississippi Urban Renewal Revenue Bonds, Series 2024 (Infrastructure Improvement Project)
  • $6,700,00 Warren County, Mississippi Taxable General Obligation Note, Series 2023
  • $1,500,000 City of Vicksburg General Obligation Note, Series 2023
  • $5,000,000 Mississippi Development Bank Special Obligation Bonds, Series 2023 (City of Meridian General Obligation Recreation Bond)
  • $10,000,000 Mississippi Development Bank Special Obligation Bonds, Series 2023 (Leflore County, Mississippi Hospital Project)
  • $9,500,000 Mississippi Development Bank Taxable Special Obligation Bonds, Series 2023 (City of Jackson, Mississippi General Obligation Planetarium Improvement Bond Project)
  • $420,000 City of Philadelphia, Mississippi General Obligation Bonds (Police Station Project), Series 2023
  • $8,635,000 City of Vicksburg, Mississippi Taxable General Obligation Refunding Bonds, Series 2022
  • $5,000,000 City of Clarksdale, Mississippi Urban Renewal Revenue Bonds, Series 2022 (Infrastructure Improvement Project)
  • $8,000,000 Mississippi Development Bank Special Obligation Bonds, Series 2022 (Columbus, Mississippi Electric System Revenue Bond Project)
  • $7,000,000 City of Grenada, Mississippi Urban Renewal Revenue Bonds, Series 2022 (Infrastructure Improvement Project)
  • $4,000,000 City of West Point, Mississippi Urban Renewal Revenue Bonds, Series 2022 (Infrastructure Improvement Project)
  • $1,500,000 City of Leland, Mississippi Urban Renewal Revenue Bonds, Series 2022 (Infrastructure Improvement Project)
  • $960,000 City of Hollandale, Mississippi Urban Renewal Revenue Bonds, Series 2022 (Infrastructure Improvement Project)
  • $7,000,000 Tunica County, Mississippi Urban Renewal Revenue Bonds, Series 2022 (Infrastructure Improvement Project)
  • $3,000,000 City of Carthage, Mississippi Urban Renewal Revenue Bonds, Series 2022 (Infrastructure Improvement Project)
  • $5,000,000 Jefferson County, Mississippi Urban Renewal Revenue Bonds, Series 2022 (Infrastructure Improvement Project)
  • $5,252,000 City of Greenville, Mississippi Taxable General Obligation Airport Bonds, Series 2022A (Kearns Aerospace Project
  • $6,421,000 City of Greenville, Mississippi Taxable General Obligation Airport Bonds, Series 2022B (Kearns Aerospace Project
  • $7,500,000 Mississippi Development Bank Special Obligation Bonds, Series 2022 (Jackson, Mississippi Planetarium Project)
  • $5,000,000 Sunflower County, Mississippi General Obligation Bonds, Series 2022
  • $1,500,000 City of Carthage, Mississippi General Obligation Bonds, Series 2022
  • City of Meridian, Mississippi (Convertible Taxable and Tax Exempt) General Obligation Refunding Bonds, Series 2022 (Arts & Entertainment Project)
  • City of Clarksdale, Mississippi Urban Renewal Revenue Bonds, Series 2022 (Infrastructure Improvement Project)
  • $25,990,000 Canton Public School District, Madison County, Mississippi Taxable (Convertible to Tax-Exempt) General Obligation Refunding Bonds, Series 2022
  • $7,860,000 Canton Public School District Limited Tax Notes, Series 2022
  • $2,555,000 Meridian Urban Renewal Authority Urban Renewal Refunding Bonds (Law Enforcement Center Project) Series 2021
  • $16,920,000 City of Jackson, Mississippi General Obligation Refunding Bonds, Series 2021
  • $12,395,000 Canton Public School District Refunding Bond, Series 2021
  • $6,000,000 Mississippi Development Bank Special Obligation Bonds, Series 2021 (City of Meridian, MS General Obligation Bond Project)
  • $10,045,000 City of Meridian, Mississippi Combined Water and Sewer System Revenue Refunding bonds, Series 2021
  • $3,330,000 City of McComb, Mississippi General Obligation Refunding Bonds, Series 2021
  • $10,640,000 Mississippi Development Bank Special Obligation Bond, Series 2021A (Warren County, Mississippi Public Improvement General Obligation Bond Project)
  • $3,055,000 Mississippi Development Bank Special Obligation Bonds, Series 2021B (Warren County, Mississippi Public Improvement General Obligation Bond Project)
  • $11,000,000 City of Vicksburg, Mississippi General Obligation Bonds, Series 2021
  • $1,550,000 City of Clarksdale, Mississippi General Obligation Refunding Bonds, Series 2021
  • $3,200,000 City of McComb, Mississippi General Obligation Bonds, Series 2020
  • $32,000,000 Mississippi Development Bank Special Obligation Bonds, Series 2020 (Jackson, Mississippi Sales Tax Bond Project)
  • $26,896,000 Mississippi Business Finance Corporation Taxable Revenue Bonds (Flowood Hotel & Conference Center Project), Series 2019 A
  • $3,000,000 Mississippi Business Finance Corporation Taxable Revenue Bonds (Flowood Hotel & Conference Center Project), Series 2019 B
  • $4,700,000 Mississippi Business Finance Corporation Taxable Revenue Bonds (Meridian Downtown Hotels, L.L.C Threefoot Building Courtyard Marriott Project), Series 2018A
  • $11,800,000 Mississippi Business Finance Taxable Revenue Bonds (Meridian Downtown Hotels, L.L.C Threefoot Building Courtyard Marriott Project), Series 2018B
  • $9,300,000 Mississippi Development Bank Special Obligation Bonds, Series 2018 (Greenville, Mississippi Public Improvement Bond Project).
  • $22,495,000 Mississippi Development Bank Special Obligation Bonds, Series 2018 (Vicksburg, Mississippi Sports Complex General Obligation Bond Project).
  • $3,347,000 Claiborne County, Mississippi General Obligation Refunding Bonds, Series 2018A (the “Series 2018A Bonds”) and $1,795,000 Claiborne County, Mississippi Taxable General Obligation Refunding Bonds, Series 2018B
  • $9,930,000 Mississippi Development Bank Special Obligation Bonds, Series 2018 (Vicksburg, Mississippi Public Improvement Bond Project).
  • $3,200,000 Columbus Redevelopment Authority Taxable Revenue (Burns Bottom Project), Series 2017.
  • $6,075,000 Mississippi Business Finance Corporation Taxable Revenue Refunding Bonds, Series 2017 (Retro Metro, LLC Refunding Project).
  • $20,000,000 Mississippi Development Bank Special Obligation Bonds, Series 2017 (Meridian, Mississippi Arts & Entertainment Center General Obligation Bond Project).
  • $6,405,000 City of Columbus, Mississippi Electricity System Revenue Refunding Bonds, Series 2016.
  • $2,000,000 City of Greenwood, Mississippi Taxable Urban Renewal Revenue Bonds (Milwaukee Too Project), Series 2016.
  • $7,500,000 Meridian, Mississippi General Obligation Bonds, Series 2016.
  • $9,690,000 Columbus, Mississippi Water & Sewer System Revenue Refunding Bonds, Series 2015.
  • $550,000 Sharkey County, Mississippi General Obligation Hospital Bonds, Series 2015.
  • $200,000,000 State of Mississippi Gaming Tax Revenue Bonds, Series 2015E.
  • $2,369,000 City of Greenwood, Mississippi General Obligation Refunding Bonds, Series 2015.
  • $2,919,000 City of Greenville, Mississippi General Obligation Refunding Bonds, Series 2015.
  • $1,525,000 Kemper County, Mississippi Taxable Negotiable Note, Series 2015.
  • Developer Counsel for not to exceed $1,250,000 City of Columbus, Mississippi Taxable Tax Increment Financing Bonds, Series 2015 (University Mall Project).
  • $9,450,000 City of Flowood, Mississippi General Obligation Refunding Bonds, Series 2014.
  • $1,670,000 Noxubee County, Mississippi General Obligation Road and Bridge Bonds, Series 2014.
  • $8,200,000 City of Meridian, Mississippi, General Obligation Refunding Bonds, Series 2014.
  • $7,785,000 City of Vicksburg, Mississippi, General Obligation Refunding Bonds, Series 2014.
  • $1,595,000 Culkin Water District, Warren County, Mississippi General Obligation Refunding Bond, Series 2014.
  • $319,800 V Lakes Utility District, Rankin Mississippi Taxable Water System Junior Lien Revenue Bond, Series 2014.
  • $15,000,000 Mississippi Development Bank Special Obligation Bonds, Series 2014 (Pascagoula, Mississippi General Obligation Bond Project).
  • $850,000 Tunica County, Mississippi Taxable General Obligation Industrial Development Bonds, Series 2013.
  • $5,500,000 Wayne County, Mississippi Taxable General Obligation Industrial Development Bonds, Series 2013.
  • $2,100,000 City of Newton, Mississippi General Obligation Bonds, Series 2013.
• Underwriter’s Counsel 
  • $86,770,000 County Board of Education of Richmond County, Georgia General Obligation Sales Tax Bonds, Series 2023
  • $1,315,000 Tax Increment Financing Revenue Bond, Series 2018 (Madison County Medical Center/Nissan Parkway Project).
  • $182,595,000 State of Mississippi General Obligation Bonds, Series 2015F (Tax-Exempt).
  • $9,500,000 Mississippi Development Bank Special Obligation Bonds, Series 2015 (City of Vicksburg, Mississippi Public Improvement General Obligation Project).
  • Underwriter’s Counsel for $154,685,000 State of Mississippi General Obligation Bonds, Series 2015A (Tax-Exempt).
  • Underwriter’s Counsel for $128,950,000 State of Mississippi Taxable General Obligation Bonds, Series 2015B.
  • Underwriter’s Counsel for $249,980,000 State of Mississippi General Obligation Refunding Bonds, Series 2015C (Tax-Exempt).
  • Underwriter’s Counsel for $179,135,000 State of Mississippi Taxable General Obligation Refunding Bonds, Series 2015D.
  • Underwriter’s Counsel for $17,270,000 Mississippi Valley State University Educational Building Corporation Revenue Refunding Bonds, Series 2015 (Mississippi Valley State University Facilities Refinancing).
• Lender’s Counsel 
  • $7,865,315 Weakley County, Tennessee General Obligation School Bond Anticipation Note, Series 2023
• Other Experience
  • Successfully represented a City in connection with both an unofficial and official inquiry and investigation by the Securities and Exchange Commission (SEC).
  • Assisted in the negotiation of an economic development incentive agreement or MOU with the State, local governmental unit, and private industry on a $225 million economic development project.
  • Drafted legislation and regulations related to Mississippi Health Care Industry Zone Act of 2012.
  • Served as Counsel and Policy Advisor for the Office of Governor Phil Bryant providing counsel as liaison to the Mississippi Development Authority and the Mississippi State Bond Commission. Also served as liaison to the Mississippi Home Corporation in preparation of the State of Mississippi’s Qualified Allocation Plan for 2012 and 2013.
  • Provided advice and counsel to the Office of the Governor in the state’s $300,000,000 Variable Rate Demand Obligation restructuring and advance refunding of $240,000,000 in debt.
  • Provided advice and counsel to the Office of the Governor in preparation for ratings presentations for Moody’s, Fitch, Standard & Poor’s from 2012-2018.
  • Assisted with drafting legislation, including the Mississippi Health Care Industry Zone Act of 2012 and drafted policy for the Mississippi Home Corporation’s 2013 Qualified Allocation Plan for the administration of LITHC tax credits in Health Care Zones.
  • Managed and assisted with several major economic development projects on behalf of the Office of the Governor.
  • Assisted with commercial transactions which included providing advice on the financing for both small and large manufacturing companies along with the representation and formation of 501(c) non-profit corporations.
  • Advised on the preparation of a private placement memorandum for a $25,000,000 Reg D capital raise.
  • Advised broker-dealers on FINRA regulations.
  • Advised on the application of Section 42 Low Income Housing Tax Credits (LIHTC) on behalf of the Mississippi Home Corporation.
  • Drafted commercial lease agreements and membership interest purchase agreements for corporate entities.

• International Economic Development Council, Certified Economic Developer
  • Board of Directors, 2025-2027
• Best Lawyers in America®
  • Economic Development Law, 2025
• Leadership Council on Legal Diversity, Fellow, 2020
• Delta Regional Authority's Delta Leadership Institute, Fellow, 2018
• The Bond Buyer, Rising Star, 2018
• PORTICO 10, Class of 2017
• Mississippi College School of Law, Adjunct Professor, 2010-Present
• Super Lawyers®
  • Mid-South Super Lawyers, Government Finance, 2016-2018
• Tougaloo College Inaugural Class, Top 40 Under 40, 2016-2017
• The National Black Lawyers, Top 100 Black Lawyers (Ridgeland, MS), 2015
• Office of Governor Phil Bryant, Counsel and Policy Advisor, Economic Development & Public Finance, 2012-2013
• Mississippi College School of Law, Young Lawyer of the Year, 2012-2013
• Mississippi Business Journal, Top 40 Under 40, 2013
• Mississippi Development Authority, Project Manager (Global), 2004-2006

• Mississippi, 2009
• U.S. District Courts
• Mississippi: Northern, Southern

• Mississippi College, J.D., 2009
  • American Jurisprudence Awards: Corporate Finance (2009), Counseling & Negotiations (2008)
  • Most Outstanding Oralist, MS Moot Court Competition (2009)
  • 1st Place Winner, Duberstein Appellate Advocacy Bankruptcy Competition, New York, NY (2008)
• Belhaven University, M.B.A., cum laude, 2006
• Tougaloo College, B.A., dual degree in English and Philosophy, magna cum laude, 2002

• Clerkship, Chief Judge Henry T. Wingate, U.S. District Court for the Southern District of Mississippi, 2009-2010

• National Association of Bond Lawyers
• Mississippi Economic Development Council
• Mississippi Bar Association
• American Bar Association
  • Co-Chair, Forum on Affordable Housing and Community Development Law Mid-Winter Boot Camp, 2018
• Capital Area Bar Association

• Moderator, "Disparities in the Municipal Bond Market," NASP Financial Services Conference, June 12, 2024.
• Speaker, "Legalities of Economic Development," Next Move Group, 2024 Mardi Gras Site Selectors Panel & Economic Development Conference, February 8, 2024.
• Panelist, "Finding the Right Investors to Fund Your Vision," Uncle Nearest & Jack Daniels, Spirits on the Rise Summit, April 18, 2023.
• Presenter/Panelist, "ESG - Investment Banking; ESG - Community Development (Real World/End User Considerations)" ESG and Energizing Economic Development in Mississippi CLE, January 13, 2022.
• Keynote Speaker, Washington County Economic Alliance & Chamber of Commerce 2022 Annual Meeting, May 19, 2022.
• Speaker, "Spurring Housing &/or Hotel Developments in Small Towns," Next Move Group, 2022 Mardi Gras Economic Development Conference, February 24, 2022.
• Mentioned, "A spotlight on Mississippi bonds big and small," The Bond Buyer, November 17, 2021.
• Presenter, “Is Economic Development Enough?” International Economic Development Council’s Annual Conference, Indianapolis, Indiana, October 16, 2019.
• Panelist, “Community-Led Investments: Stories of Financial and Social Impact,” Southeastern Regional Opportunity Zone Summit, Jackson, Miss., October 1, 2019.
• Author, “The Future of Economic Development: Using Health Care as an Economic Driver, Public-Private Partnerships as a Platform to Further Development, and Minority Participation as a Path Forward in a More Diverse Mississippi,” 35 Miss. C. L. Rev. 370 (2017).
• Author, "Deal or No Deal: 7 Lessons from a Lawyer Who's Been There," JYL News, Spring 2015.
• Speaker, "How to make health care an economic driver," TEDx, Jackson, Miss., November 6, 2014.
• Author, "How to Make Health Care an Economic Driver: Prolegomena to a Future Economic Development," The Mississippi Lawyer, Vol. IX, No. 4, pg. 10-16, Summer 2014.
• Author, “Building a Better Jackson: Health Care Industry Potential,” Clarion Ledger, Jul. 3, 2014 pg. 1C.
• Author, “Healthcare turning Mississippi’s weaknesses into strengths” Clarion Ledger, Jan. 30, 2014 pg. 8A, Miss. Bus. J., Feb. 8, 2014, Vol. 36, No. 6, p. 23. 
• Author, “Prolegomena to a Future Economic Development: Mississippi Targets Health Care and Life Science Industries,” Mississippi Business Law Reporter. Vol. 5, No. 1, Spring 2014
• Presenter, "Health Care is More than just a Hospital: Health Care as an Economic Driver," Texas Economic Development Annual Conference, October 16, 2013.
• Presenter, "Health Care Zones as a Tool for Economic Development," Governor Phil Bryant Health Care Economic Development Summit, August 15, 2013.
• Presenter, "Health Care Zones as a Tool for Economic Development," Mississippi Municipal League Annual Summer Conference, July 17, 2013.
• Presenter, "Mississippi Housing and Community Development Conference 2013: Comprehensive Community Development, Affordable Housing and More," June 18, 2013.
• Speaker, "What Teach For America Means to Economic Development," Teach For America 2013 Induction Ceremony, June 4, 2013.
• Presenter, "6th Empowering Communities for a Healthy Mississippi Conference," May 22, 2013.
• Presenter, "Mississippi Affordable Housing Conference 2013," February 20, 2013.
• Presenter, "Mississippi Economic Development Council Winter Conference 2013," February 7, 2013.
• Keynote Luncheon Speaker, "Economic Development and Transportation," MDOT Transportation Summit, July 10, 2012.
• Author, "Mississippi’s Magnolia Garden: A Forward-Leaning Approach to Economic Development and Economic Gardening," Innovative Pointe Magazine, Winter 2012.
• Presenter, "Legal Parameters of International Trade & Exporting," Hattiesburg, MS, August 30, 2011.

• Board of Trustees, Belhaven University, 2020-Present
• Board of Directors, Tougaloo College Research and Development Foundation, 2017-2020
• Board of Directors, Mississippi Today, 2016-Present
• Tougaloo College, 1869 Annual Fund, Co-Chairman, 2015-2016