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Bowes, Elizabeth Rippy
Elizabeth Rippy Bowes
P: +1.512.542.2104
F: +1.800.404.3970

Patsy Niles


Elizabeth represents issuers and underwriters in public and private offerings of tax-exempt bonds. She has experience representing both state and local issuers in conduit financings with an emphasis in revenue bond transactions including gas supply revenue bonds and single and multi-family housing.

Representative Matters

Served as underwriter’s counsel in the issuance of $4 billion of tax-exempt gas supply revenue bonds.

Represented multiple issuers as bond counsel in approximately 100 multifamily affordable apartment tax-exempt bond financings including publicly offered and privately placed debt with various financing structures.

Assisted clients in various revenue bond financings including airport revenue bonds, stadium parking facility bonds and various single family bond transactions including multi-modal bonds, negotiations of liquidity facilities, investment agreements and hedging transactions.

Assisted bond purchaser in acquisition of 501(c)(3) multifamily bond portfolio financing acquisition of multiple properties in Texas, California, Arizona, and Georgia.

Represented various clients in development of mortgage credit certificate programs.

Assisted clients in multiple defaulted housing bond workouts, including restructurings of tax-exempt debt and asset sales to retire debt.

Publications and Speeches

National Association of Bond Lawyers, Multifamily Housing and Single Family Housing (panel chair).
"Board Member Training and Development," Texas Association of Local Housing Finance Authorities Annual Conference (panelist).
"Lining Up the Players," Conference on Bond Financing for Affordable Housing Southwestern U.S. sponsored by Reznick Fedder & Silverman (panelist).


J.D., cum laude, The University of Texas School of Law, 1989
B.A., summa cum laude, Transylvania University in Lexington, Kentucky, 1984

Bar Admissions



National Association of Bond Lawyers
Austin Bar Association
Texas Association of Local Housing Finance Agencies
Executive Council, Texas Chapter, Women in Public Finance


Woodward White, Inc., Best Lawyers, 2006-2017; Austin Lawyer of the Year, Public Finance Law, 2017
Fellow, American College of Bond Counsel, 2007-2015