MAY 4-6, 2016 aglf... · Dinsmore & Shohl LLP TD Equipment Finance. ... May 4-6, 2016 at the Omni...

Omni Charlotte Hotel Charlotte, North Carolina

CONFERENCE PROGRAM

36TH ANNUAL AGLF CONFERENCE

MAY 4-6, 2016

Racing Toward Excellence in Public Finance

Thank You to Our Sponsors

Chairman's Club SponsorCapital One Public Funding, LLC

President’s Club SponsorsGilmore & Bell, P.C.

Key Government FinanceU.S. Bancorp Government Leasing and Finance

Executive Club SponsorsAll American Investment Group, LLC

BOK FinancialDe Lage Landen Public Finance

Grant Capital ManagementKS StateBank

MicroTechSterling National Bank

AGLF Thursday Night ReceptionCapital One Public Funding, LLC

Conference Bag SponsorChapman and Cutler, LLP

Coffee Break SponsorsDinsmore & Shohl LLPTD Equipment Finance

Pen SponsorHuntington Bank

Note Pad SponsorNBH Bank

Media SponsorsThe Bond BuyerLeasing News

36TH ANNUAL AGLF CONFERENCE

Racing Toward Excellence in Public Finance

Dear Friends and Colleagues:

On behalf of the Conference Planning Committee, we welcome you to the first AGLF Annual Conference May 4-6, 2016 at the Omni Charlotte Hotel in Charlotte, North Carolina. We have combined our spring and fall conferences into one! As always, this conference promises two and a half days of educational programs, networking, and events not to be missed. The conference features fantastic keynote speakers, interesting and relevant sessions, and a fun Thursday night reception at NASCAR Hall of Fame, sponsored by Capital One Public Funding, LLC.

We are thrilled to welcome three fantastic speakers. The conference opens Wednesday afternoon with Ben Cotton, CEO and Founder of CyFIR and CyTech Services. Ben’s experiences from his 21 year military career help the CyTech team deal with the current cyber challenges facing its clients. You won’t want to miss this very timely presentation.

Thursday begins with two keynote speakers. Charlie Wittmack, World-Class Explorer and Award-Winning Athlete will kick off our morning. Charlie will delight us with his firsthand account of his world long triathlon. His story is an inspirational story of extraordinary resolve and determination, and success in the face of unprecedented challenge.

Mark Vitner, Managing Director and Senior Economist, Wells Fargo Securities, LLC will be next in the line-up. Mark is responsible for tracking U.S. and regional economic trends.

After Mark, there will be a general session lead by Maryann Santos, Capital One Public Funding, LLC. Maryann will moderate a panel made up of Jonathan Lewis, Capital One Public Funding, LLC; Jeff Sharp, Capital One Public Funding, LLC; Shelley Stein, Capital One Public Funding, LLC; Mike Horkey, Sterling National Bank; Mark Brown, First Security Finance, Inc.; Kevin King, Huntington Public Capital Corporation; and Maneesh Jhunjhunwala, De Lage Landen Public Finance. The panel titled “Shark Tank” features the Sharks as tough seasoned bankers as they invest in America’s municipalities. This is a timely, “must attend” opportunity for anyone who is in the municipal lease-purchase and direct purchase industry.

During our opening reception on Wednesday night, AGLF is honored to present Buzz Larsen with the Jay Terry Lifetime Achievement Award. The Jay D. Terry Award is an award honoring individuals who provide longstanding and significant contributions to the AGLF. The award is named in honor of the individual who provided inspiration for the award, Jay D. Terry, who was one of the founding members of the AGLF, and who served as its general legal counsel for nearly 25 years. Please join us as we celebrate Buzz with an entertaining and fun presentation by Neal Skiver.

I would like to thank our conference co-chairs Alan Woolever and Maryann Santos, as well as their committee members who have devoted their energy and time to make the Annual Conference informative, successful and enjoyable! Their goal was to bring in an economic focus and what’s taking place currently in the industry and also create a networking event to keep everyone together Thursday night. We encourage you to participate in the survey after the conference to identify the important issues facing our industry and country and to make the next conference even better.

I would also like to thank our management company, Talley Management Group, including Haley Brust, our Executive Director and Wendy Stevens, our Conference Meeting Planner, who handle the daily communication with AGLF members and aid in the logistical planning for this conference. Their hard work helps us keep AGLF moving on a day-to-day basis.

If this is your first AGLF Conference, please take advantage of the opportunity presented to you during this meeting to learn more about our organization. Use this time away from your daily activities to learn about new opportunities within our industry, reflect upon current market conditions, discuss successes and concerns with colleagues, network and have some fun! Please join us during the AGLF Wednesday night Welcome Reception – network with AGLF volunteers for more insight on the organization.

As the Conference progresses, stop by the registration desk to share your ideas and thoughts on how to strengthen this joint venture into the future with the AGLF headquarters staff or any of the current Board Members. We are always seeking committee volunteers or topic suggestions for the upcoming conferences; also feel free to share these suggestions when filling out the post-meeting survey after the conference. Your feedback is very valuable to us!

Once again, I hope you have a great experience and we hope to see you all again at AGLF’s 37th Annual Conference, which will be held in Broomfield, Colorado, May 3-5, 2017 at the Omni Interlocken Resort.

Mark SkochdopoleAGLF Chairman

Chairman’s MessageChairman’s Message

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Co-Chairs

Maryann Santos Capital One Public Funding, LLC

[email protected]

Alan WooleverGilmore & Bell, P.C.

[email protected]

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AGLF Conference Planning Committee

Nathan CanovaDorsey & Whitney LLP

[email protected]

Chad CobbsMicroTech

[email protected]

William DasilvaBB&T Government Finance

[email protected]

Doreen FormaleMicrosoft Financing

[email protected]

Thomas HowardTD Equipment Finance, Inc.

[email protected]

Juliet HuangChapman and Cutler LLP

[email protected]

Chris Jones, AGLF PresidentU.S. Bancorp Government

Leasing and [email protected]

David RoederSterling National Bank

[email protected]

Jason SchurkeGilmore & Bell, P.C.

[email protected]

Mark Skochdopole, AGLF Chairman

KS StateBank/Baystone Government Finance

[email protected]

Linda TerrizziMicroTech

[email protected]

Sherry VillafaneNBH Bank, N.A.

[email protected]

Committee Members

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Jay Terry Lifetime Achievement AwardJay Terry Lifetime

Achievement Award

The Association for Governmental Leasing & Finance is pleased to award the 2016 Jay Terry Lifetime Achievement Award to Darrell R. “Buzz” Larsen, Jr.

Buzz is a managing partner in the Chicago office of Chapman and Cutler LLP. Buzz’s contributions to public finance span 40+ years, including participating in AGLF for over 30 years. As one of the pioneers and leaders of the municipal leasing industry, Buzz spearheaded one of the first lease tender option programs (“LeaseTOPS”) in the early 1990s, known

as BusTOPS. The success of this program created various avenues for the leasing industry that expanded well into the 2000s. He founded and has headed the Tax-Exempt Asset and Lease Origination, Placement and Securitization Group (known as “TEALOPS”) at Chapman and Cutler which focuses principally on the origination, placement and securitization of tax-exempt, tax credit and taxable installment purchase, lease-purchase and other non-bond financing and operating lease arrangements with State and local governments (including for the benefit of qualified 501(c)(3) entities) for acquisition, construction, equipping and installation of a broad range of essential government buildings, facilities, equipment and other real and personal property. Buzz is well recognized nationally for representing bank-affiliated and independent lenders, investors and leasing companies, State and local governments, direct institutional purchasers, investors, sponsors of tax-exempt asset securitization products and buyers and sellers in municipal asset portfolio transactions, in addition to serving as underwriter’s counsel and bond counsel. Buzz is a member of the New York, California and Illinois Bars and for the past 30 years has been a member of AGLF and has served on the Steering Committee for the National Association of Bond Lawyers. He is a graduate of the University of Utah (B.A., English, magna cum laude, Phi Beta Kappa, Phi Kappa Phi) and the University of Utah College of Law (J.D., Order of the Coif, Managing Editor, Utah Law Review, 1975-1976).

Buzz has contributed significantly to AGLF. He served on AGLF’s Board of Directors from 1999-2005 and has been extensively involved with AGLF conferences, including chairing and planning of conferences and sharing legal developments and practical perspectives with the market.

Buzz has been instrumental in bringing some of the earliest appropriation test cases to fruition in Florida and establishing industry standards and promoting best practices. He authored an amicus brief on the Escambia County, Florida, case (Frankenmuth v. Magaha, 769 So.2d 1012 (Fla. 2000)), which brought the non-substitution clause in financing contracts to the forefront of the leasing industry, which became a hot topic of discussion during several AGLF conferences.

Buzz’s long-standing commitment to excellence in the legal profession is evidenced by his scholarly contributions that have enriched the marketplace, including (among others) his principal authorship of Secondary Market Tax-Exempt Asset Securitization for Sponsors, Investors, Other Market Participants and Their Counsel, (published in June 2005 by the American Bar Association) and his contributions to AGLF’s Tax-Exempt Leasing Letters, including a monthly newsletter that he crafted, “…the Buzz on the Muni Leasing Industry,” which was disseminated electronically to market participants, including members of the AGLF.

In gratitude for his years of dedication, service, leadership and guidance to the municipal leasing industry, AGLF is honored to recognize Buzz Larsen with the 2016 Jay Terry Lifetime Achievement Award.

Buzz Larsen

WEDNESDAY, MAY 4, 2016 Session Descriptions

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WEDNESDAY, MAY 4, 2016 Session Descriptions

1:00 PM – 5:00 PM Conference Registration Dogwood Foyer

2:00 PM – 3:30 PM Concurrent Sessions:

A) The Basics of Municipal Leasing Cypress Room

Speaker: Jeff Sharp, Capital One Public Funding, LLC

This session is targeted toward those individuals new to the governmental leasing industry or those individuals who need a refresher. This session provides an overview of the municipal leasingmarketplace and will review topics such as pricing, structuring, documentation, credit and legal fees.

B) The Basics of Federal Finance Salon A

Speaker: Linda Terrizzi, MicroTech

This session will include a discussion on the structure, basic concepts, purchase and assignment of equipment and the termination risks associated with federal leasing, as well as the documentation process.

3:30 PM – 4:00 PM Refreshment Break Dogwood Foyer

4:00 PM – 5:00 PM Keynote Session Dogwood Room

Ben Cotton, CEO and Founder, CyFIR and CyTech ServicesBen Cotton, CEO, founded the company as he was preparing to retire following a 21 year career in the United States Army Special Forces. As part of his military service, Ben developed the digital sensitive site exploitation, computer network attack (CNA), computer network defense (CND) and computer network operations (CNO) capabilities for the United States Special Operations Command (USSOCOM). The Special Forces approach to dealing with these kinds of challenges in a military setting is also applied as the CyTech team deals with the current cyber challenges facing its clients.

Moderator: Mark Skochdopole, KS StateBank

5:00 PM – 6:30 PM AGLF Reception at Hotel (including Jay Terry Award Presentation) Pomodoro Room

5:45 PM Jay Terry Award Presentation Pomodoro Room

AGLF is pleased to award the 2016 Jay Terry Lifetime Achievement Award to Darrell R. “Buzz” Larsen of Chapman and Cutler LLP. Neal Skiver of George K. Baum & Company will present the award and host a reflection on Buzz’s contributions to the municipal leasing industry, including aninteractive session of Muni Leasing Jeopardy.

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THURSDAY, MAY 5, 2016 Session Descriptions


8:00 AM – 5:00 PM Conference Registration Dogwood Foyer

8:00 AM – 8:45 AM Continental Breakfast Cypress Room

8:45 AM – 9:00 AM Conference Welcome and Business Meeting Dogwood Room

9:00 AM – 10:00 AM Keynote Session Dogwood Room

Charlie Wittmack, World-Class Explorer and Award-Winning Athlete “Committed to the Core: Stories that Redefine Possibility”: On July 1, 2010, Charlie Wittmack stepped into the shallow waters at the source of the River Thames and started to swim. Wittmack was embarking on the world’s longest triathlon with a destination halfway around the world. During The World Tri, Wittmack traveled more than 8,000 miles from the frigid waters of England to the snowcapped summit of Mount Everest. His route crossed 11 countries in Europe and Asia and some of the most rugged and treacherous terrain on earth. The BBC called his adventure “the toughest human endurance event ever conceived.” The struggles Wittmack faced were immense (from pulmonary and cerebral edema to being hit by a car in Kazakhstan), but 10 months after setting out, Wittmack became an international phenomenon changing the world of endurance sports forever. This is the firsthand account – an inspirational story ofextraordinary resolve and determination, and success in the face of unprecedented challenge.

Moderator: Nate Canova, Dorsey & Whitney, LLP

10:00 AM – 10:15 AM Refreshment Break Dogwood Foyer

10:15 AM – 11:15 AM Keynote Session Dogwood Room

Mark Vitner, Managing Director and Senior Economist, Wells Fargo Securities, LLC Mr. Vitner will present his U.S. Economic Outlook. He is responsible for tracking U.S. and regional economic trends. Based in Charlotte, Mark also writes for the company’s Monthly Economic Outlook report, the Weekly Economic & Financial Commentary, and provides regular updates on the financial markets, housing and commercial real estate, regional economies, and inflation. Mark’s commentaryhas been featured in the New York Times, Wall Street Journal, Bloomberg, and many other publications.


11:15 AM – 12:15 PM General Session: “Shark Tank: Featuring the Sharks as tough seasoned bankers as they invest in America’s municipalities” Dogwood Room

Moderator: Maryann Santos, Capital One Public Funding, LLC

Panelists include Jonathan Lewis, Capital One Public Funding, LLC; Jeff Sharp, Capital One Public Funding, LLC; Shelley Stein, Capital One Public Funding, LLC; Mike Horkey, Sterling National Bank; Mark Brown, First Security Finance, Inc.; Kevin King, Huntington Public Capital Corporation and Maneesh Jhunjhunwala, De Lage Landen Public Finance

12:15 PM – 2:00 PM AGLF Lunch at Hotel Cypress Room

2:00 PM – 2:15 PM Break Dogwood Foyer

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A) Muni Session: “Reaching the Checkered Dogwood Room Flag with Private Placement”

The private placement segment of public finance is growing rapidly, and individual transaction sizes are also increasing. This panel will discuss the rationale for the current favorable environment, the different types of common transaction structures, and how to deal with inter-creditor matters in multi-lender transactions.

Moderators: David Roeder, Sterling National Bank and Sherry Villafane, NBH Capital Finance

Panelists include Matt Morrell, Piper Jaffray & Co; Neal Skiver, George K. Baum & Company and Michael Juby, First Tryon Advisors

B) Federal Session: “The End Game – Juniper Room How Does a Residual Play into Your Lease?”

There are various factors when doing a LWOO lease and one is residual. Not only in pricing a deal, but in your end of lease strategy. In this session, we explore the role of the residual in the life cycle of the lease. We will also look at past trends and what the future of residuals looks like.

Moderator: Chad Cobbs, MicroTech

Speaker: Mike Stewart, CCA Financial, LLC



A) Muni Session: “Waving the Caution Flag” Dogwood Room

A roundtable discussion on strategies for avoiding potential non-appropriations, the evolvingmeaning of essentiality, financing the Cloud, software and licenses.

Moderators: Mark Skochdopole, KS StateBank; Maneesh Jhunjhunwala, De Lage LandenPublic Finance, LLC and Glenn Cackovic, Banc of America Public Capital Corp.

B) Federal Session: “Small Business Juniper Room Opportunities with the Federal Government”

In this session you will learn about opportunities Small Businesses have with the Federal Government. Presenters from the North Carolina Small Business and Technology Development Center will discuss how they interact and guide small businesses through the federal procurement process, to include the Department of Defense. Discussion will center on Small Business education and how leasing can play a part in the education process. As many of us have utilized Small Businesses as part of our business plans, this session will give the opportunity to discuss the challenges and opportunities we have faced.

Speaker: Mark Mills, North Carolina Procurement Technical Assistance Center (PTAC)



A) Muni Session: “Preserving Right What Dogwood Room Once Went Left – The NASCAR Hall of Fame”

In this panel discussion of issuer perspectives on tax-exempt financing, the challenges of financing a significant public-private project (The NASCAR Hall of Fame) will be discussed by the team that drove the project across the finish line.

Moderators: David Roeder, Sterling National Bank and Jason Schurke, Gilmore & Bell, P.C.

Panelists include Scott Greer, City of Charlotte Treasurer; Scott Leo, Parker Poe Adams and Bernstein, LLP and Biff McGilvray, North Carolina Local Government Commission



B) Federal Session: “Sales Challenges” Juniper Room

This roundtable is an open discussion to the sales challenges in the federal government. Challenges are different from a vendor, prime and financial institution perspective. Bring your latest challenges toshare and discuss.

Moderators: Doreen Formale, Microsoft; Chad Cobb, MicroTech and Linda Terrizzi, MicroTech

6:00 PM – 9:00 PM AGLF Thursday Night Reception: “Capital One Need for Speed NASCAR Hall Event at NASCAR Hall of Fame” of Fame

Speedways will see plenty of cars on track for attendees to put their skills to the test or join the cheering section enjoying southern fare and beverages while rooting your favorite driver to victory. You can take a break from the action and view the artifacts that walk you through NASCAR’s storied past decade by decade. The prestigious winner of the 2016 Capital One Need for Speed Race will be announced during the conference on Friday. (Within walking distance)

9:00 PM – 11:00 PM Late Night with AGLF Pomodoro Room

Drinks & Dessert at the Hotel

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DLL is a global financial solutions partner working in Agriculture, Food, Healthcare, Clean Technology, Automotive, Transportation, Construction, Industrial Equipment and Office Technology. We specialize in providing leasing and financing solutions for our vendor partners to enhance their government sales efforts.

State and local government customers can benefit from our Public Finance’s Tax-exempt Municipal Lease Purchase financing program, in addition to a full range of financial structures.

See what counts.www.dllgroup.com

FRIDAY, MAY 6, 2016 Session DescriptionsFRIDAY, MAY 6, 2016 Session Descriptions

8:00 AM – 11:30 AM Conference Registration Dogwood Foyer


8:30 AM – 9:30 AM General Session: “Rating Agencies’ Perspectives on Current Credit Issues” Dogwood Room

Representatives from Moody’s and Standard & Poor’s will discuss (a) pension reporting under GASB and how their rating agency analyzes unfunded pension obligations and OPEB liabilities, (b) the impact of State budget issues on muni and school credits and (c) proposed ratings shifts (Moody’s)and perspectives (Standard & Poor’s) on appropriation-backed credits.

Moderator: Juliet Huang, Chapman and Cutler, LLP

Panelists include Ted Damutz, Moody’s Investors Services, Inc. and Carol Hendrickson Spain, Standard & Poor’s Rating Services


9:45 AM – 10:30 AM “Pit Stop for Securities and Tax Updates” Dogwood Room

This session will include an overview of recent updates and hot topics in federal securities and tax laws.

Moderator: Nancy Midden, Gilmore & Bell, P.C.

Panelists include Bill Burns, Gilmore & Bell, P.C. and Alan Woolever, Gilmore & Bell, P.C.

10:35 AM – 11:30 PM “The Final Lap” Dogwood Room

A panel of in-house counsel will discuss current legal issues and challenges from an in-house perspective. Previously submitted questions will be answered and the panelists will be happy toanswer additional questions.


Panelists include Curt Loub, KS StateBank; Maryann Santos, Capital One Public Funding, LLC and Beth Gilbert, Dell Financial Service, LLC

11:30 AM Conference Giveaway Dogwood Room

Must Be Present To Win!

FRIDAY, MAY 6, 2016 Session DescriptionsFRIDAY, MAY 6, 2016 Session Descriptions

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Products and Services provided by Capital One Public Funding, LLC a wholly owned subsidiary of Capital One, N.A. © 2015 Capital One. Capital One is a federally registered service mark. All rights reserved. This

communication consists solely of general information, the information provided is not Intended to be and should not be construed as “advice” within the meaning of Section 15B of the Securities Exchange Act of 1934 and the municipal advisor rules of the SEC. Capital One Public Funding, LLC (“COPF”) is acting for its own interest; and has financial and other interests that differ from yours. COPF nor any of its affiliates is not acting as a municipal advisor or financial advisor, and has no fiduciary duty, to you or any other person pursuant to Section 15B of the Securities Exchange Act of 1934. COPF is not recommending that you take an action with respect to the information contained in this advertisement and you should discuss this information with such financial, tax, legal and other advisors as you deem appropriate.

At Capital One® Public Funding, we use our extensive knowledge of the municipal market to help keep cities and states moving. Our team of 15 public finance experts manages a portfolio of over 1,000 governmental units totaling over $4 billion of municipal obligations. We’re on call, with the expertise and experience to help state and local governments do great things.

Jeff [email protected]

(877) 698-2018

Jaci [email protected]

(631) 457-9582

Brenda [email protected]

(860) 422-3612

CAPITAL ONE AGLF HANDOUT

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Wednesday, May 4

AGLF Reception and Jay Terry Award Presentation

5:00 PM – 6:30 PM • Pomodoro Room

Thursday, May 5

“Capital One Need for Speed Event at the NASCAR Hall of Fame” sponsored by

Capital One Public Funding, LLC6:00 PM – 9:00 PM • NASCAR Hall of Fame

Late Night with AGLFDrinks and Dessert at the Hotel

9:00 PM – 11:00 PM • Pomodoro Room

Friday, May 6

Conference Giveaway 11:30 AM • Dogwood Room(must be present to win)

Conference Highlights

Racing Toward Excellencein Public Finance

10

ALL AMERICAN INVESTMENT GROUP OFFERING A WIDE RANGE OF FINANCIAL PRODUCTS AND

SERVICES TO MEET YOUR SPECIFIC NEEDS.

COLORADO ~ARKANSASwww.AAIG-finance.com

800-899-9404

Wednesday, May 44:00 PM – 5:00 PM

Dogwood Room

Speaker: Ben Cotton CEO and Founder, CyFIR and CyTech Services

Ben Cotton, CEO, founded the company as he was preparing to retire following a 21 year career in the United States Army Special Forces. As part of his military service, Ben developed the digital sensitive site exploitation, computer network attack (CNA), computer network defense (CND) and computer network operations (CNO) capabilities for the United States Special Operations Command (USSOCOM). The Special Forces approach to dealing with these kinds of challenges in a military setting is also applied as the CyTech team deals with the current cyber challenges facing its clients.

Keynote SpeakersKeynote Speakers

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NATIONAL LEADERS

IN PUBLIC FINANCE LAW

MUNICIPAL LEASING

LENDER’S COUNSEL

BOND COUNSEL

www.gilmorebell.com


12

Thoughtful Solutions ToMeet Your Escrow Needs

Victor Zarrilli, SVP | [email protected] | 314.562.0621Mark McCoy, SVP | [email protected] | 405.936.3902

Thursday, May 59:00 AM – 10:00 AM

Dogwood Room

Speaker: Charlie Wittmack World-Class Explorer and Award-Winning Athlete

“Committed to the Core: Stories that Redefine Possibility”: On July 1, 2010, Charlie Wittmack stepped into the shallow waters at the source of the River Thames and started to swim. Wittmack was embarking on the world’s longest triathlon with a destination halfway around the world. During The World Tri, Wittmack traveled more than 8,000 miles from the frigid waters of England to the snowcapped summit of Mount Everest. His route crossed 11 countries in Europe and Asia and some of the most rugged and treacherous terrain on earth. The BBC called his adventure “the toughest human endurance event ever conceived.” The struggles Wittmack faced were immense (from pulmonary and cerebral edema to being hit by a car in Kazakhstan), but 10 months after setting out, Wittmack became an international phenomenon changing the world of endurance sports forever. This is the firsthand account – an inspirational story of extraordinary resolve and determination, and success in the face of unprecedented challenge.

13


Thursday, May 510:15 AM – 11:15 AM

Dogwood Room

Speaker: Mark Vitner Managing Director and Senior Economist,

Wells Fargo Securities, LLC Mr. Vitner will present his U.S. Economic Outlook. He is responsible for tracking U.S. and regional economic trends. Based in Charlotte, Mark also writes for the company’s Monthly Economic Outlook report, the Weekly Economic & Financial Commentary, and provides regular updates on the financial markets, housing and commercial real estate, regional economies, and inflation. Mark’s commentary has been featured in the New York Times, Wall Street Journal, Bloomberg, and many other publications.

Schedule At A GlanceSchedule At A Glance

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Wednesday, May 4, 2016

1:00 PM – 5:00 PM Conference Registration Dogwood Foyer

2:00 PM – 3:30 PM Concurrent Sessions: A) The Basics of Municipal Leasing Cypress Room Speaker: Jeff Sharp, Capital One Public Funding, LLC B) The Basics of Federal Finance Salon A Speaker: Linda Terrizzi, MicroTech


4:00 PM – 5:00 PM Keynote Session Dogwood Room Ben Cotton, CEO and Founder, CyFIR and CyTech Services Moderator: Mark Skochdopole, KS StateBank

5:00 PM – 6:30 PM AGLF Reception at Hotel Pomodoro Room (including Jay Terry Award Presentation)

5:45 PM Jay Terry Award Presentation Pomodoro Room

Thursday, May 5, 2016

8:00 AM – 5:00 PM Conference Registration Dogwood Foyer


8:45 AM – 9:00 AM Conference Welcome and Business Meeting Dogwood Room

9:00 AM – 10:00 AM Keynote Session Dogwood Room Charlie Wittmack, World-Class Explorer and Award-Winning Athlete Moderator: Nate Canova, Dorsey & Whitney, LLP


10:15 AM – 11:15 AM Keynote Session Dogwood Room Mark Vitner, Managing Director and Senior Economist, Wells Fargo Securities, LLC Moderator: Nate Canova, Dorsey & Whitney, LLP

11:15 AM – 12:15 PM General Session: Dogwood Room “Shark Tank: Featuring the Sharks as tough seasoned bankers as they invest in America’s municipalities” Moderator: Maryann Santos, Capital One Public Funding, LLC Panelists include Jonathan Lewis, Capital One Public Funding, LLC; Jeff Sharp, Capital One Public Funding, LLC; Shelley Stein, Capital One Public Funding, LLC; Mike Horkey, Sterling National Bank; Mark Brown, First Security Finance, Inc.; Kevin King, Huntington Public Capital Corporation and Maneesh Jhunjhunwala, De Lage Landen Public Finance

12:15 PM – 2:00 PM AGLF Lunch at Hotel Cypress Room

2:00 PM – 2:15 PM Break Dogwood Foyer

2:15 PM – 3:00 PM Concurrent Sessions: A) Muni Session: “Reaching the Checkered Flag with Private Placement” Dogwood Room Moderators: David Roeder, Sterling National Bank and Sherry Villafane, NBH Capital Finance Panelists include Matt Morrell, Piper Jaffray & Co; Neal Skiver, George K. Baum & Company and Michael Juby, First Tryon Advisors B) Federal Session: “The End Game – How Does a Residual Play Juniper Room into Your Lease?” Legal Perspectives on Federal Leasing Moderator: Chad Cobbs, MicroTech Speaker: Mike Stewart, CCA Financial, LLC

Schedule At A GlanceSchedule At A Glance


3:15 PM – 4:00 PM Concurrent Sessions: A) Muni Session: “Waving the Caution Flag” Dogwood Room Moderators: Mark Skochdopole, KS StateBank; Maneesh Jhunjhunwala, De Lage Landen Public Finance, LLC and Glenn Cackovic, Banc of America Public Capital Corp. B) Federal Session: “Small Business Opportunities with the Juniper Room Federal Government “

Speaker: Mark Mills, North Carolina Procurement Technical Assistance Center (PTAC)


4:15 PM – 5:00 PM Concurrent Sessions: A) Muni Session: “Preserving Right What Once Went Left Dogwood Room – The NASCAR Hall of Fame” Moderators: David Roeder, Sterling National Bank and Jason Schurke, Gilmore & Bell, P.C. Panelists include Scott Greer, City of Charlotte Treasurer; Scott Leo, Parker Poe Adams and Bernstein, LLP and Biff McGilvray, North Carolina Local Government Commission B) Federal Session: “Sales Challenges” Juniper Room Moderators: Doreen Formale, Microsoft; Chad Cobb, MicroTech and Linda Terrizzi, MicroTech

6:00 PM – 9:00 PM AGLF Thursday Night Reception: NASCAR Hall of Fame “Capital One Need for Speed Event at the NASCAR Hall of Fame”

9:00 PM – 11:00 PM Late Night with AGLF Pomodoro Room Drinks & Dessert at the Hotel

Friday, May 6, 2016

8:00 AM – 11:30 AM Conference Registration Dogwood Foyer


8:30 AM – 9:30 AM “Rating Agencies’ Perspectives on Current Credit Issues” Dogwood Room Moderator: Juliet Huang, Chapman and Cutler, LLP Panelists include Ted Damutz, Moody’s Investors Services, Inc. and Carol Hendrickson Spain, Standard & Poor’s Rating Services


9:45 AM – 10:30 AM “Pit Stop for Securities and Tax Updates” Dogwood Room Moderator: Nancy Midden, Gilmore & Bell, P.C. Panelists include Bill Burns, Gilmore & Bell, P.C. and Alan Woolever, Gilmore & Bell, P.C.

10:35 AM – 11:30 AM “The Final Lap” Dogwood Room Moderator: Nate Canova, Dorsey & Whitney, LLP Panelists include Curt Loub, KS StateBank; Maryann Santos, Capital One Public Funding, LLC; and Beth Gilbert, Dell Financial Service, LLC

11:30 AM Conference Giveaway Dogwood Room Must Be Present To Win!

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About the SpeakersAbout the Speakers

Mark Brown | First Security Finance, Inc.

Mark Brown is Senior Vice President at First Security Finance, Inc. (FSF). Mark has spent over 18 years with FSF and its investment banking affiliate Crews & Associates, Inc. He actively participates in the buying, selling and structuring of a variety of taxable and tax-exempt fixed rate financing products for municipalities, education, healthcare, and other nonprofit and governmental issuers. Mark has significant experience in both privately held and publicly offered transactions. Mark attended the University of Arkansas at Little Rock. He is a licensed securities representative, maintaining a Series 7 General Securities Representative license, a Series 63 Uniform Securities Agent license, and a Series 79 Investment Banking Representative license.

Bill Burns | Gilmore & Bell, P.C.

Bill Burns is a shareholder of Gilmore & Bell, P.C. in the firm’s Kansas City office. Mr. Burns represents issuers, underwriters and other parties to public finance transactions, with a focus on health care and higher education financings, and advises clients on securities law and disclosure issues in public finance as a member of the firm’s Securities Group. Mr. Burns also manages Gilmore & Bell’s continuing disclosure service, which assists clients with the preparation and submission of required continuing disclosure filings. He received his B.S. in Political Science and Journalism (cum laude) from Northwest Missouri State University in 2006 and his J.D. (cum laude) from Washington University School of Law in 2009. Mr. Burns is a member of the Missouri Bar Association and the National Association of Bond Lawyers.

Nate Canova | Dorsey & Whitney LLP

Nate Canova is an associate in the Minneapolis, Minnesota, office of Dorsey & Whitney LLP. He represents public and private sector clients across the country in a wide variety of tax-exempt and taxable financings, including municipal lease financings; general obligation bond financings; revenue bond financings; tax-increment and tax abatement financings for economic development; and qualified 501(c)(3) bonds for health care systems, assisted living facilities, charter schools and private schools. He regularly serves as bond counsel, underwriter’s counsel, special tax counsel, borrower’s counsel, and issuer’s counsel.

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Find us on or keyequipmentfinance.com/government

Rely upon Key for Federal and Municipal customized financing solutions designed specifically for government entities.

He also assists clients with respect to the development of new and innovative public-private partnership financing structures. His work in this area has involved infrastructure and real estate development projects, professional sports stadiums, hotels and convention centers and even social service delivery programs. He earned a Bachelor of Arts in Business Management from Weber State University (2009) and a Juris Doctor and Master of Business Administration (2013; magna cum laude) from Drake University.

Edward (Ted) Damutz | Moody’s Investors Services, Inc.

Ted is the lead analyst for North Carolina local governments and back-up lead analyst for local governments in Florida. He also covers issuers throughout the rest of the Southeast. He transitioned from Team Leader and co-manager of the Moody’s Chicago Office to become a Southeastern analyst based in Raleigh. Ted spearheaded the municipal utility methodology update and also coordinates intermediary outreach for Moody’s local government ratings team nationally. Additionally, he is a member of the Environmental, Social and Governance task force. He rejoined Moody’s from Brown Brothers Harriman, where he was an international credit analyst for two years. Previous professional experience includes working in the United Nations and the Soros Foundation Ted is the Education Chair of the Southern Municipal Finance Society and a member of the Board of Governors of the National Federation of Municipal Analysts. He served for many years on the Board of the Chicago Municipal Analyst Society. Institutional investors elected Ted

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Expect extraordinary.

We provide tax-exempt and taxable financing solutions for local, state, and federal governments as well as non-profit corporations nationwide.

For more information, please contact:Michael Horkey, Senior Managing [email protected] | 410-864-8304snb.com

Industry Expertise and Personalized Service. That’s Sterling.

Member FDIC

Edward (Ted) Damutz (cont.)to the Smith’s annual All Star Team 12 times, most recently for lease analysis. Ted earned his BA in Modern History from Pitzer College in Claremont, CA, an MA in International Relations from London School of Economics, and an MA in Modern History from Central European University in Budapest.

Beth Gilbert | Dell Financial Service, LLC

Beth Gilbert is a senior managing counsel at Dell Financial Services L.L.C. (“DFS”), a captive financial services company wholly owned by Dell, Inc., where for over 17 years she has counseled on all aspects of its commercial, public (both federal and state/local), and, more recently, its international business in Canada, Latin America and Australia. She currently holds bar licenses in California, Texas and Arizona. Before joining DFS, Beth was a litigator for 9 years in California and Texas, where she worked as an assistant attorney general for the State of Texas. She has a J.D. from the University Of San Francisco School Of Law, an M.A. in Communication from Arizona State University, post-graduate work in Journalism from Hebrew University, Israel, and a B.A. in Journalism and Political Science from the University of Arizona. Before becoming a lawyer, she worked more than 10 years as a journalist. Beth currently serves on the AGLF board as its assistant treasurer, and is a member of the Equipment Leasing and Finance Association and the Association of Corporate Counsel.

Scott Greer | City of Charlotte Treasurer

Scott Greer is the City Treasurer for the City of Charlotte, serving in that role since 2008. Prior to that he was the City’s Debt Manager and City Economist and has been with the City since 1993. As Treasurer his responsibilities include debt issuance and management, investment management, revenue estimations and economic analysis. In addition to general City finance, Mr. Greer oversees debt and investments for Charlotte-Douglas International Airport, Charlotte Area Transit System, Charlotte Water and Charlotte Stormwater enterprises. Mr. Greer has also worked on the financing team for many economic development projects including: NASCAR Hall of Fame, Time-Warner Cable Arena, Bank of America Stadium, BB&T Ballpark, Discovery Place, Mint Museum, Bechtler Museum, Knight Theater, Gant African

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American Cultural Center, Charlotte Convention Center, Bojangles Coliseum and Ovens Auditorium.Mr. Greer received a Bachelor’s Degree in Economics from the University of North Carolina at Chapel Hill in 1989, and his Master’s Degree in Public Administration from the University of North Carolina at Charlotte in 1998. In addition, Mr. Greer holds a certificate of municipal administration from the North Carolina Institute of Government and a certificate in advanced investment management from the Wharton School of Business from the University of Pennsylvania. Mr. Greer grew up in Boone, North Carolina, and currently lives in Huntersville, North Carolina.

Michael J. Horkey | Sterling National Bank

Mr. Horkey is a Senior Managing Director for Sterling National Bank and is responsible for the Bank’s Public Finance efforts. Sterling is active on a nationwide basis and provides numerous financial products designed to assist State and local governments acquire the capital needed for essential equipment and projects. Prior to joining Sterling, Mr. Horkey was a cofounder and President of Green Campus Partners, LLC. Mr. Horkey and the GCP team arranged or directly funded nearly $1 billion of governmental related volume. Mr. Horkey was a Senior Vice President and Regional Business Manager at Banc of America Public Capital Corp and held various management positions at SunTrust Bank, Banc One and GE Capital. Throughout his career, he has been responsible for the production of large performing portfolios of highly profitable investment grade or near investment grade credits focusing on healthcare, government and large corporations. In addition to this, he has a considerable background in syndications, credit underwriting and portfolio management. Mr. Horkey graduated from Loyola College with a Bachelor of Arts in Business Administration in 1986, was awarded a full Army ROTC scholarship and served honorably as an officer in the United States Army Reserves. He earned an MBA from the University of Baltimore in 1994 and has received numerous sales awards throughout his career and is a frequent speaker at industry and customer events. He resides in Charleston, SC with his wife, Diane and their three sons.

Juliet Huang | Chapman and Cutler, LLP

Juliet Huang is a managing partner in the Banking and Financial Services and National Public and Health & Education Finance departments of Chapman and Cutler LLP. Juliet serves as counsel to both domestic and foreign banking and financial institutions in a wide range of public finance transactions involving direct purchases and private placements of, or credit enhancement and liquidity support for, state and local government obligations (including those involving healthcare and other 501(c)(3) entities). She also serves as special counsel to lessors/lenders in state and local government lease-purchase financings (on a tax-exempt, tax-credit or taxable basis and/or involving energy performance, public housing authorities, software, healthcare and/or other 501(c)(3) entities, among others). Juliet provides her clients with expertise on a wide range of products including draw-down bond structures, forward bond purchase transactions and revolving/line of credit facilities, and in real-property secured transactions. Juliet has served as bond counsel and underwriter’s counsel on a variety of private activity bond transactions, including financings for sewage

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Juliet Huang (cont.)and solid waste disposal exempt facilities and industrial development revenue bonds. Juliet regularly speaks and writes on the subject of direct purchases and municipal leasing for clients and industry groups.

Maneesh Jhunjhunwala | De Lage Landen Financial Services

Maneesh Jhunjhunwala is Vice President-Credit for De Lage Landen Financial Services and is responsible for all aspects of government risk management for DLL. Maneesh has over 20 years of financial services experience, almost entirely in risk management, operations and underwriting. He began his career in a bank rotational management training program, including formal credit training. Maneesh used that to develop expertise in small-business lending, dealer floor-plan finance, vendor finance, and government finance. He joined De Lage Landen Public Finance in 2005, and has helped to make DLL one of the leading providers of vendor-originated government financing solutions, with over $2B in federal, state, and local originations during that time. Maneesh regularly participates in and presents at industry conferences and training classes, and is a member of the ELFA and a board member of the AGL&F. He has his B.A. in Economics from Northwestern University, and has completed his graduate coursework towards an M.A. in Economics from The University of Toledo. He is active in a number of non-profit organizations, not the least of which are his two school-aged children.

Michael Juby | First Tryon Advisors

For more than 10 years, Michael has advised tax-exempt borrowers throughout the Carolinas in a wide range of financings. Before joining First Tryon Advisors, Michael was a partner in Parker Poe Adams & Bernstein LLP’s public finance practice group, where he advised universities, nonprofits, local governments, health care institutions and lenders in a wide variety of corporate and public finance transactions. Michael has advised clients in connection with public private partnerships and other innovative financing structures, serving as bond counsel and developer’s counsel in purchase, lease and concession arrangements.In 2013, the Charlotte Business Journal named Michael to its “40 Under 40” list, which recognizes the Charlotte region’s outstanding young business leaders. North Carolina Superlawyers recognized Michael as one of North Carolina’s “Rising Stars” in public finance in 2012, and Michael is also listed in Woodward/White’s The Best Lawyers in America in Banking and Finance Law for 2016. In addition to his professional accomplishments, Michael serves on the board of elders at Church at Charlotte, on the North Carolina Advisory Board for Citizen Schools and on the board of directors for Piano vs. Poverty, a tax-exempt nonprofit that encourages people to use their talents to help those in need. Michael received his JD with honors from the University of North Carolina at Chapel Hill in 2005 and his BS from NC State University in 2000, where he was a member of the inaugural class of Park Scholars, the university’s flagship scholarship program.

Kevin King | Huntington National Bank

A 25+ year veteran of the municipal finance industry, Kevin has been with Huntington since 2010 where he serves as Senior Vice President and Director of Huntington Public Capital. In this role, he has been

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integral in building and leading a team that has seen the Bank’s investment in municipal transactions grow from $73 million in 2010 to a portfolio of over $2 billion today. Kevin holds a Bachelor of Arts from Augusta University in Georgia. Huntington Public Capital, a division of Huntington National Bank, provides specialized financing to publicly-supported entities including: state and local governments, K-12 school districts, public housing authorities, not-for-profits, and institutions of higher learning. Products include tax-exempt and taxable loans, notes, leases and the direct purchase of privately placed bonds.

Scott Leo | Parker Poe Adams & Bernstein, LLP

Scott Leo is a Partner and Leader of the Public Finance Practice Group at Parker Poe Adams & Bernstein LLP. Scott focuses his practice on serving as bond counsel, underwriter’s counsel and bank counsel in the areas of governmental, higher education, health care and nonprofit finance. Scott serves as bond counsel to public and nonprofit entities across North Carolina and serves as underwriter’s and bank’s counsel for financings in North Carolina and across the Southeast. Scott has a Juris Doctor (with Honors) and a Master of Public Administration from The University of North Carolina at Chapel Hill and a Bachelor of Arts from North Carolina State University (Go Wolfpack!). Before becoming any attorney, Scott worked for several years as an assistant to the county manager in Wake County, North Carolina. Scott is married with three daughters and enjoys tennis, running, golf, reading and craft beer.

Jonathan Lewis | Capital One Public Funding, LLC

Jonathan Lewis established the tax-exempt lending group of Capital One (then North Fork) in May 2004. Since that time, the portfolio has increased from zero to over $4 billion. As President of Capital One Public Funding, LLC, Jonathan is responsible for all aspects of the municipal business including originations, portfolio strategy and pricing, credit policies and process, and managing the group’s team of 18 professionals. From 1999 to 2004, Jonathan was Vice President and Director at Bank One in a variety of capacities, including public finance investment banking and derivatives, municipal credit and tax-exempt leasing. Prior to joining Bank One, Jonathan was a Vice President with Government Finance Associates, Inc., a New York municipal finance advisory firm. In that capacity, he structured and consulted on tax-exempt bond transactions for large government and quasi-government clients. From 1993 to 1996, Jonathan was an analyst in the Public Finance Department of Moody’s Investors Service, where he specialized in tax-backed and revenue credits in the Midwest. Jonathan is a graduate of Northwestern University and holds Masters of Urban Planning and M.B.A. degrees from New York University.

Curt Loub | KS StateBank

Curt Loub has been General Counsel for KS StateBank for eight years, having bank-wide responsibility. His responsibilities include negotiating and drafting municipal government obligations, working with bond counsel, documenting commercial obligations, overseeing claims litigation, creditor’s rights in bankruptcy, managing investigations, handling deposit issues, and reviewing and drafting of services contracts. Curt received his bachelor’s degree in Business Administration from Kansas State University, and his law degree from Washburn University

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Curt Loub (cont.)School of Law. Upon graduating in 1991, Curt served in private practice until 2005, as an associate, partner and shareholder in firms in Wichita and Manhattan, Kansas. His practice involved representing financial institutions and medical care providers with an emphasis on litigation. He is also a trained civil mediator and AGLF member.

Biff McGilvray | North Carolina Department of State Treasurer

Biff McGilvray is a Senior Financial Analyst in the Debt Management Section of the State and Local Finance Division of the North Carolina Department of State Treasurer and has eighteen years of experience in this area. Prior to that, he was employed by Carolina Power and Light Company for fourteen years, performing corporate projects and specializing in public utility regulatory accounting and finance and he also has three years of public accounting experience. Biff graduated from North Carolina State University with honors with a BA in accounting and received a Master’s in Business Administration from the University of North Carolina at Chapel Hill. He is a member of the North Carolina Association of Certified Public Accountants and the American Institute of Certified Public Accountants.

Nancy Midden | Gilmore & Bell, P.C.

Nancy A. Midden is a shareholder of the firm in the Kansas City office. She is a member of the Missouri and Florida Bar Associations. She primarily represents lenders in private placements of governmental and 501(c)(3) leases, bonds and other tax-exempt obligations. Ms. Midden has served on the Board of the Association for Governmental Leasing & Finance since 2011. Ms. Midden received her B.A. in Economics from Saint Mary’s College in Notre Dame, Indiana in 2000 (magna cum laude). In 2003, she received her J.D. from the University of Notre Dame School of Law.

Mark Mills | NC PTAC Program Director Statewide

Mark Mills has a bachelor’s degree in management, two Master’s Degree’s, one in Education and one in Human Relations. He is a veteran having served in the U.S Army National Guard for 4 years and active duty in the U.S. Air Force for 9 years. He spent 12 years in Germany

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working for the U.S. Air Force. He has a managed businesses, worked in manufacturing has a broad background in appropriated and non-appropriated funds contracting. He was a procurement counselor for 8 years at Appalachian State University and has been the North Carolina Procurement Technical Assistance Center (PTAC) program director at North Carolina State University for 7 years.

Matt Morrell | Piper Jaffray & Co.

Matt Morrell joined Piper Jaffray in 2008. He is the Managing Director-Public Finance Private Placement Desk, and has over 15 years of industry experience dedicated to direct bond placements and loan syndications. Mr. Morrell is responsible for arranging private placement investors for Piper Jaffray public finance clients. Sectors covered include governmental, healthcare, senior living, higher education, special tax districts/TIF, tax credit bridge, and hospitality, among others. Since 2008, Mr. Morrell has assisted with over 680 private placement issues totaling a par value in excess of $8.5 billion. Mr. Morrell previously worked for Marshall Financial Group in loan syndications and has a Bachelor’s degree from the University of Minnesota.

David Roeder | Sterling National Bank

David Roeder is Senior Vice President, Managing Director of the Public Finance team at Sterling National Bank. In his role, David is responsible for the team’s buy-side and sell-side capital markets functions. He has 20 years of public finance experience in connection with the structuring, underwriting, documenting, and syndicating of tax-exempt and taxable loans for public sector clients. David has been a longtime member of the AGLF, and currently serves as an Executive Committee member of the AGLF Board of Directors. His background includes serving as Adjunct Faculty for the Finance Department of DePaul University. David received a BBA in Banking and Finance from Mississippi State University, and an MBA in Finance from DePaul University.

Maryann Santos | Capital One Public Funding, LLC

Maryann Santos joined Capital One Public Funding, LLC (a subsidiary of Capital One Financial Corp.) in January 2014 as Business Operations Manager. She is responsible for legal and tax matters involving tax-exempt transactions for governmental and nonprofit borrowers throughout the U.S. Before joining Capital One Public Funding, Ms. Santos served as tax counsel in Capital One’s Global Tax Department where she supported tax-exempt and tax credit transactions. Maryann joined Capital One in 1999 in the bank regulatory compliance group where she was responsible for review of the bank’s compliance with regulations including the Fair Credit Reporting Act, Regulation W, Equal Credit Opportunity and the implementation of the Privacy Act under Gramm Leach Bliley Act. Maryann began her career in audit at Deloitte. She holds a Bachelor of Science in Accounting, CPA, Master of Business Administration (Taxation) and a JD from St. John’s University. She resides with her family in Oyster Bay, New York.

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Jason Schurke | Gilmore & Bell, P.C.

Jason C. Schurke is an associate of Gilmore & Bell, P.C. in the firm’s Kansas City office, and primarily represents lenders in private placements of governmental and 501(c)(3) leases, bonds and other tax-exempt obligations. Mr. Schurke earned his Bachelor of Science in Economics from Brigham Young University - Idaho in 2006 and his J.D. (summa cum laude) from the University of Missouri-Kansas City School of Law in 2014. While in law school he served as Student Editor-in-Chief of The Urban Lawyer. Mr. Schurke is a member of the Missouri and Kansas Bar Associations and the Association for Governmental Leasing and Finance.

Jeff Sharp | Capital One Public Funding, LLC

Jeff Sharp is the Senior Vice President/Director of Business Development for Capital One Public Funding, LLC (“COPF”). Jeff has been with COPF since 2005 and is responsible for identifying and structuring COPF’s tax-exempt loan, bond and lease transactions for governmental and nonprofit borrowers throughout the United States and primarily works with public finance intermediaries. Jeff began his career in local government prior to becoming a public finance investment banker for a regional securities firm covering Kansas, Missouri and New Mexico. He holds a Bachelor of General Studies (Urban Geography) and Master of Public Administration (City Management) from the University of Kansas.

Neil Skiver | George K. Baum & Company

Neal Skiver joined George K. Baum & Company (“GKB”) in April 2014 as a Senior Vice President and leader of GKB’s Renewables & Energy Infrastructure team. His focus is to provide cost-effective and practical financial solutions for energy efficiency, renewables, combined heat and power plants and distributed generation projects constructed onsite at state & local governments and not-for-profit institutions. These solutions include the following: (1) taxable and tax-exempt capital lease-purchase transactions (2), various forms of tax credit obligations (Qualified Energy Conservation Bonds, Clean Renewable Energy Bonds, etc.) and other similar financial instruments (3) municipal enterprise and nonprofit revenue-backed obligations and (4) project finance structures (such as energy services, utility services and power purchase agreements). Neal is a veteran in the field of government energy performance contract financing and he also has an extensive background in the development of customized financial solutions for renewable energy projects. Neal has been in the municipal equipment finance market for the past 30 years, dedicated to the specialized energy practice since 1994. Since 1994, Neal has been involved with the funding of over 300 separate energy-related direct placement transactions, representing nearly $2 Billion. Prior to joining GKB, Neal was a Senior Vice President at Green Campus Partners, LLC, which is a specialty energy financing firm and a portfolio company of a private equity fund. Neal was previously employed by Banc of America Public Capital Corp, National City Energy Capital (then a subsidiary of National City Bank), various investment banking and equipment leasing subsidiaries of ABN AMRO Bank and GE Capital. Neal attended Northwestern University and graduated from the University of Denver with a BSBA (Cum Laude) in Marketing and Finance. Neal and his wife Paula live in Santa Fe, New Mexico and enjoy an occasional margarita.

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Mark Skochdopole | KS StateBank

Mark joined KS StateBank in 2003 and has worked in their Government Finance Department for the last 12 years and is currently the senior underwriter. He underwrites all transactions funded by the Government Finance Department. KS StateBank has been doing lease purchase financing for over 20 years and currently services a portfolio of around $400 million. In 2015 they originated over $180 million in lease purchase financings. Mark is the current Chairman of the Board of Directors for the Association of Government and Lease Finance and has served on this national board for the past 7 years.

Carol Hendrickson Spain | Standard Ratings & Poor’s Rating Services

Carol Hendrickson Spain is an associate director in the U.S. States group at Standard & Poor’s Ratings Services and is based in the Chicago office. She serves as the primary analyst for the following states: Kentucky, Michigan, Minnesota, Nebraska, North Dakota, Oklahoma, Pennsylvania, South Dakota, Tennessee and Wisconsin. Carol started at Standard & Poor’s in 2010 in the local government group, where she analyzed and evaluated municipal credits across the Midwest, including cities, counties, and school districts. She transitioned to the U.S. States group in 2015 and participates in thought leadership and criteria projects. Carol is a board member of Women in Public Finance Chicago Chapter and an active member of the Chicago Municipal Analyst Society. Carol attended graduate school at the University of Chicago, where she received her master of public policy degree. She also has a bachelor’s degree in political science from the University of Notre Dame. Prior to her experience with Standard & Poor’s, Carol worked for the Federal Reserve Bank of Chicago and Chicago Public Schools.

Shelley Stein | Capital One Public Funding, LLC

Shelley Stein is Senior Vice President–Underwriting Manager at Capital One Public Funding, LLC. She jointed Capital One in August 2011 and manages the underwriting team responsible for the credit analysis of a wide range of municipal entities in connection with leases, notes, and privately placed bond issues. Prior to joining Capital One, Shelley spent 10 years as a Director in the public finance underwriting group at ACA Financial Guaranty Corporation, a financial guaranty company specializing in low investment grade credits. At ACA she was a senior member of the underwriting group, responsible for underwriting and structuring municipal and not-for-profit bonds and low income housing tax credit financings, and was a member of the credit approval committee. Prior to joining ACA, Shelley spent 16 years at Ambac Financial Group where she was a Managing Director in the public finance underwriting group and a member of the senior credit committee. Shelley initially joined Ambac as the public power analyst, specializing in revenue bonds issued by municipally owned electric utilities. She later assumed various management roles and credit approval authority within established parameters. Her management responsibilities included the underwriting group responsible for the credit evaluation of municipal utilities, transportation, education, and not-for-profit organization; and the Southeast regional group responsible for developing business and underwriting all municipal credits located in the southeastern states. Shelley received a Bachelor of Arts degree from Hofstra University.


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Mike Stewart | CCA Financial, LLC

Mr. Stewart is the Executive Vice President of Marketing at CCA Financial, LLC. He has been with CCA since 1997 and has been in his current role since 2010. He is responsible for new lease originations, residual analysis, deal pricing, and end of lease disposition for CCA’s $300MM lease portfolio.

Linda Terrizzi | MicroTech

Linda Terrizzi is currently the Vice President, Product Solutions for MicroTech. With over 26 years of experience in the federal marketplace, Ms. Terrizzi has held positions of increasing responsibility in the areas of Bids and Proposals, Pricing and Financial Services. Ms. Terrizzi manages an operations team that is responsible for all aspects of the origination, purchase and sale of government lease assets. Her team works closely with select partners in the banking community to service their governmental customers. This group specializes in the administration of Government contracts and is experienced in the assignment, invoicing and collection of these accounts. Ms. Terrizzi holds a degree in Accounting from Seton Hill University.

Sherry Villafane | NBH Bank Government & Nonprofit Financing

Ms. Sherry Villafane has more than 20 years of financing experience and more than ten years of experience specific to governmental financing. She joined NBH Bank Government & Nonprofit Financing in 2014 and is responsible for the municipal review, underwriting, analysis and audit of new and existing government and nonprofit clients. Ms. Villafane is Vice President and also co-manages the NBH Bank Government Equipment Lease Portfolio along with NBH Bank Managing Director, Mr. Tim David. Previously, she was an exclusive Senior Debt & Treasury Analyst for the City of Aurora, Colorado, where she participated, designed and implemented various special and innovative financing initiatives, county certifications, assessments and RFP solicitations. She holds a Bachelor of Science degree in finance from Metropolitan State University in Denver, Colorado.

Alan Woolever | Gilmore & Bell, P.C.

Alan Woolever is a shareholder of Gilmore & Bell, P.C. in the firm’s Kansas City office. During his legal career, Mr. Woolever’s practice has focused on all aspects of taxation of state and local obligations. Prior to law school, Mr. Woolever was a securities trader for Edward Jones trading both equity securities and municipal bonds. Mr. Woolever earned his Bachelor of Science in Finance (Summa Cum Laude) from Arizona State University in 2002, a Juris Doctor (Cum Laude) and a Master of Laws in Taxation from the University of Missouri-Kansas City School of Law in 2008. While in law school he was an Articles Editor for The Urban Lawyer Law Review and the Arthur Mag Graduate Fellow in Tax Law. Mr. Woolever is a member of the Missouri Bar Association, the National Association of Bond Lawyers, the Association for Governmental Leasing & Finance and the Kansas City Municipal Bond Club.

ChairMark Skochdopole

KS StateBank/Baystone Government Finance

PresidentChris Jones

U.S. Bancorp Government Leasing & Finance

TreasurerLinda Terrizzi

MicroTech

Assistant TreasurerBeth Gilbert

Dell Financial Service, LLC

SecretaryDavid Roeder

Sterling National Bank

General CounselLeonard Rice

Dorsey & Whitney LLP

Chair EmeritusJoseph O’Brien

Municipal Capital Corp.

Directors Tasha Barreau

U.S. Bancorp Government Leasing & Finance

Glenn CackovicBanc of America Public Capital Corp. - Global

Angie DemingRepublic First National Corporation

Maneesh JhunjhunwalaDe Lage Landen Public Finance, LLC

Thad KempJacobs Technology, Inc.

Nancy MiddenGilmore & Bell, P.C.

Renee PicheMunicipal Leasing Consultants

Mike WeberTMI Trust Company

Barb WinklerHutchinson, Shockey, Erley & Co.

Board of DirectorsBoard of Directors

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37TH ANNUAL CONFERENCE

May 3-5, 2017

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