Banco Popular de Puerto Rico

Mr. Spinelli is a Managing Director in Bank of America Merrill Lynch’s Philadelphia office with responsibility for the Firm’s public finance efforts in the Mid‐Atlantic region. Mr. Spinelli’s 30 years of public finance investment banking experience includes financings for state and state‐level issuers as well as large city, regional and local issuers in Pennsylvania, Ohio, New Jersey, Maryland, West Virginia and Delaware.� Additionally, Mr. Spinelli brings experience in the Transportation and Utility sectors as well as with inaugural issuers.� He is a graduate of the Pennsylvania State University and the Kellogg Graduate School of Management of Northwestern University.

J.T. Hutchinson has several years of credit products and capital markets origination experience. He manages a team of bankers covering government, infrastructure, 501(c)3, and higher education credits. As a regional team leader for PNC, Mr. Hutchinson maintains business development and relationship management responsibilities, and specializes in the areas of taxable and tax-exempt credit products, capital markets bond origination, derivatives, cash management, and institutional asset management.Mr. Hutchinson received a Bachelors in Economics, Philosophy, and Political Science from The University of Pennsylvania and received his Masters in Business Administration from Villanova University. He maintains a General FINRA Securities license, Series 7, Uniform Securities Agent State Law license, Series 63, and the Municipal Securities Principal license, Series 53.

Frank joined the Soci�t� G�n�rale project finance team in Australia in 1995, and has been located in New York since 1998. He is currently the head of Soci�t� G�n�rale’s infrastructure financing team for the Americas.Frank has been at the forefront of the development of the public private partnership (PPP) market in North America, having structured financings on several landmark infrastructure projects.He has been involved in numerous PPP transactions in the US market, either as an advisor to bidders or as a lender,� and has advised on financings involving banks, private activity bonds, and taxable bonds.His outstanding deal track-record includes, in 2016, advisor to the successful LaGuardia Gateway Partners’ $4Billion LaGuardia Airport Terminal B Redevelopment ProjectFrank’s formal qualifications include both commerce and law degrees from the University of Melbourne.��

Ted is a Managing Director in KPMG’s Global Infrastructure advisory practice and is located in the Chicago office having primary responsibility for managing the Infrastructure team based in Chicago and providing client service in the Midwest. Ted has a particular focus on healthcare, science and technology related facilities. He joined KPMG in February of 2001 and has been with the Infrastructure practice since 2008. Ted’s area of focus and is in innovative infrastructure finance and the use of public-private partnerships (PPP), including assisting public sponsors with establishing public policy objectives to effectively implement these approaches.—State of Michigan: Ted is a senior team member working on KPMG’s mandate to provide a broad range of public private partnerships assistance advising the Office of Governor Rick Snyder on the broad based use of private sector involvement to develop and leverage Michigan’s infrastructure. Ted is currently helping the State explore a variety of critical social infrastructure projects, including the development of a Biosafety Level 3 consolidated laboratory as well as the replacement of state operated acute mental health hospitals for adults and adolescents. Ted has also helped the State assess innovative methods of delivery for a Tier 4 data center as well as veterans housing replacement and new development projects.�—City of Indianapolis Consolidated Justice Facility: Ted was the lead director for the KPMG team which acted as the financial and commercial advisor to the City of Indianapolis on the development of a consolidated justice facility center. This project includes a new courthouse and detention center approximating 1.2 million square feet. The project is currently under evaluation and the City is working to commercial and financial close with a Walsh, Meridiam and Balfour Beatty led project team.�—Chicago Union Station: Ted is leading a team that is working with Amtrak to redevelop Union Station in Chicago through the competitive selection of a master developer. The KPMG team, along with Ted, is working closely with the client and local developers to craft a marketable, financeable, and deliverable redevelopment of this landmark facility. This effort requires close coordination with Amtrak’s stakeholders including the City of Chicago, RTA of Illinois, Metra, IDOT and the FRA.��

Mr. Zampol has 15 years of banking experience having specialized in providing advisory and financing services to clients in the infrastructure space.� He is a Managing Director and Head of the Infrastructure Group at Drexel Hamilton, the nation’s largest Disable Veteran’s owned Broker-Dealer.� The firm is currently lead advisor on a liquid bulk terminal in the Southern US.� In 2015, Mr. Zampol was the lead banker on the Axium Infrastructure consortium’s successful acquisition of Montreal Gateway Terminals (MGT). During the acquisition process, Mr. Zampol’s firm served as sole acquisition advisor, lead debt arranger, joint bookrunner, administration agent and swap counterparty.� Also in 2015, Mr. Zampol supported the acquisition of the Billy Bishop Passenger Terminal at Toronto City Airport by InstarAGF, JP Morgan, the Kilmer Group and the Partners Group.� In that acquisition, his firm was again the sole acquisition advisor.� In 2014, he was the lead banker for Walter Energy on the sale of the Blue Creek Terminal in Mobile, and he served as co-lead debt manager on the $1.15 billion Florida East Coast Railway and Industries financings and the $400 million All Aboard Florida financing. Prior to 2014, he served as transaction advisor to clients ranging from Cenovus Energy to Goldman Sachs Infrastructure Partners.

�Jim Preusch is the Chief Financial Officer of the Alameda Corridor Transportation Authority. Preusch initially became involved with ACTA as a part of his role as CFO of the Port of Los Angeles. Serving as Treasurer of the ACTA JPA, from 1989 to 1999, Preusch assembled the financing team and crafted the multi-sourced funding plan to pay for the $2.4 billion grade separation and rail trench project. He spearheaded negotiations with the US DOT, leading to a flexible $400 million loan that supported much of the up front costs of the project. Preusch also worked extensively with the rating agencies and bond insurers to build credibility and understanding of the ACTA project, leading to successful bond ratings, and bond insurance. He led the financing team in the sale of almost $1.2 billion in senior, subordinate, taxable and tax-exempt debt, and together with the ACTA management and other members of the financing team negotiated the terms of a $347 million grant from LA MTA. Preusch also assisted in the 1994 railroad right-of-way negotiations, leading to property acquisition transactions of $386 million. From 2002 to 2004, Preusch served as co-financial advisor to ACTA.Preusch rejoined ACTA as its CFO in September 2004, and since that time has revitalized ACTA’s accounting, financial reporting, and revenue collection. In recent years Preusch has worked extensively toward restructuring ACTA’s outstanding debt. In 2012 ACTA closed a Railroad Rehabilitation & Infrastructure Finance (RRIF) transaction with the US Department of Transportation Federal Rail Administration to refund about $84 million of 1999 debt, and in 2013, ACTA sold $248 million in refunding bonds to redeem additional callable 1999 debt. In 2016 ACTA sold $591 million in refunding bonds to restructure inflexible 2004A capital appreciation bonds improving the potential to match future revenue and debt service. These transactions along with other debt redemption measures have served to reduce ACTA’s debt service requirements and improve coverage over the next several years.

Ozgur Kan is a Managing Director with Berkeley Research Group and leads the Credit Analytics practice.

David Litvack is a Managing Director and Head of Tax Exempt Research at U.S. Trust, Bank of America Private Wealth Management. In this role, he is charged with leading the research and investment strategy for municipal securities. Prior to joining U.S. Trust, David was a managing director and the group credit officer of U.S. Public Finance for Fitch Ratings. He received his Master of Business Administration from The Wharton School at University of Pennsylvania and his Bachelor of Science from Tufts University. David holds the CFA designation and is a member of the Municipal Analysts Group of New York and the National Federation of Municipal Analysts.

Frank is the Director of the Center for State & Local Leadership at George Mason University; he teaches in the Graduate School of Public Policy at George Washington University; he has served as the Director for Federal Relations previously with the Municipal Securities Rulemaking Board, the National Governors Association, and the National League of Cities. He has also served as Chief of Staff for former U.S. Rep Jim Moran of Virginia, and as Assistant Counsel for the U.S. Senate Banking Committee. He is a Member of the U.S. Supreme Court Bar, and the author of an eBlog at the GMU Municipal Sustainability site, which focuses on severe municipal fiscal distress.�