Banco Popular de Puerto Rico

Sonia M. Toledo joined Wells Fargo Securities in 2010 from Bank of America Merrill Lynch, where she headed the Northeast Region. Over her 26 year career, she has led a number of complex transactions to meet challenging financial and market conditions including: the MTA’s Dedicated Tax Fund cross issuance refunding of prior debt in 2012, the wave of step-coupon bond refundings adopted by New York State issuers beginning in 2002, The City of New York's restructuring of its auction rate portfolio in 2008, the Commonwealth of Massachusetts' Grant Anticipation Notes (the first stand-alone GARVEE sold in the industry which was used to finance a portion of the Big Dig), the creation of the New York City Transitional Finance Authority and its inaugural financing, and the issuance of Rate Reduction Bonds in Massachusetts and Connecticut.� At Wells Fargo, she acts as day-to-day banker for six major issuers in the State of New York and Connecticut.Ms. Toledo is a Board Member of the Municipal Bond Forum of New York and a Board Member of Grow NYC, which supports farmers throughout the Tri-State area by providing them with training and distribution outlets in New York City's Green Markets. �Ms. Toledo grew up in Puerto Rico and is a graduate of Harvard University and Columbia Business School. �She is a General Securities Registered Representative (Series 7) and is both Series 53 and Series 63 licensed. She resides in New York City.

Dr. James Terry serves as the Chief Financial Officer for Dallas Independent School District with approximately $2 billion in Revenue. He has been serving the state's second largest school district since 2011. Since his tenure the District’s fund balance has grown from $139 million to over $357 million. The District has received the Certificate of Excellence in Financial reporting from both GFOA and ASBO. The District has also received the Distinguished Budget Presentation award from GFOA and ASBO. The District has the highest ranking from TEA, Texas Education Agency, for FIRST the Financial Integrity Rating System of Texas. Under his leadership the District received the State Comptroller Platinum award for Financial Transparency. The District has received upgrades from all three rating agencies. In the last few years the District has had 2 refunding’s of $356 million (series 2014 A) and $235 million (Series 2015). The District has also issued $143 million in QSC Bonds (series 2013) and Maintenance Tax Notes $75 million (series 2015). The District has also just received bond authorization for $1.6 billion from the voters with a 60% approval rate. As the District’s ERCO (E-rate Compliance Officer) the FCC has released the District from its compliance agreement. Prior to Dallas ISD, Dr. Terry worked for ME Allison and Associates in San Antonio and has held both series 7 and 66 licenses. Dr. Terry served for more than 20 years in multiple business service roles in North East ISD (San Antonio) and is an expert in the field of public finance. Dr. Terry is a previous board member of the Texas Association of School Business Officials. Dr. Terry holds a Bachelor of Arts degree from Allegheny College, a Master of Arts degree from Sonoma State University, and a Ph.D. from Saybrook University in San Francisco and completed a post doctoral program in Finance and Accounting at the University of Florida. Dr. Terry continues to pursue education through certifications and endeavors including Certified Public Funds Investment Manager (CPFIM), Registered Texas School Business Administrator (RTSBA), Certified Public Accountant (CPA), Six Sigma (General Electric Management Training Program) Black Belt Certification, and Academically Qualified by the AACSB. Dr. Terry utilizes this pursuit of lifelong learning to contribute to the district as well as the community.

Cindy Demers recently joined the Texas Water Development Board as its Chief Financial Officer/Debt and Portfolio Manager.� Prior to joining the Board, she served as Controller for the Central Texas Regional Mobility Authority and Assistant City Manager for the City of Round Rock.�� In these roles she has been involved in several large project financings in both the utility and transportation sectors.� Ms. Demers has over 20 years of experience in organizational leadership, financial policy development and municipal bond financing.� She holds a Masters of Business Administration from St. Edward’s University, a Bachelor’s degree in Accounting from Concordia University and is a Certified Public Accountant.�

Ronald L. Welch, Ph.D. is proprietor of Municipal Information Services (MIS), which provides economic, demographic, geographic and data management services primarily within the Houston metropolitan statistical area (HMSA). He received his doctorate in economics from the University of Houston in 1981, specializing in state & local government finance, urban economics, and water & wastewater development. His published thesis is styled, The True Interest Costs of Municipal Utility District Securities. Since then Welch has been a financial advisor to MUDs for Juran & Moody, worked for various Houston real estate developers and, most recently was an economists and the economic data manager for UH’s Institute for Regional Forecasting.MIS has been compiling real estate, financial and development information on the MUDs located within the HMSA since the mid-1970s. This data combined with information from the Census Bureau, the BLS, the counties’ central appraisal districts and the MUDs’ consultants allows for comprehensive economic, demographic and geospatial analysis for: estimating water demand, determining fire and emergency services needs and infrastructure, and planning and budgeting for local governments. MIS’s client include regional water and river authorities, emergency services districts, bond rating agencies, developers and REALTORS�.�Welch is a licensed Texas Broker/REALTOR� and has been a board member of Harris-Ft. Bend Counties MUD #3 since 1984. He has been a member of the Association of Water Board Directors since the 1980s and has spoken about MUD bonds, economics and other issues during AWBD summer conferences.

John McCall serves as the Associate Vice President for Business Affairs for the Dell Medical School at The University of Texas at Austin. He has responsibility for finance, budgeting, human resources, sponsored project administration, technology support, facilities, and environmental health and safety.�Previously, John spent twenty years in the private sector in various financial management positions at Texas Instruments, as Vice President of Corporate Planning with Associates First Capital Corporation, and in segment controller positions with Dell, Inc. He left Dell in 2005 to become an independent business and financial consultant for start-up enterprises. In 2008, John returned to The University of Texas as Associate Vice President of Development, where he led all of the operational functions supporting the university’s fund-raising efforts.He is a graduate of The University of Texas at Austin McCombs School of Business (BBA ’88) and the Jindal School of Management at UT Dallas (MBA ’93).

Baldwin joined the Coastal Water Authority as the Chief Financial Officer in 1998.�� Prior to this, he was employed at the City of Houston for twenty one years in the Department of Public Works and Engineering, the last six years in the position of Deputy Director-Resource Management. During these assignments he has been involved in various financial transactions involving the funding of water and wastewater projects.� �Baldwin has undergraduate degrees from Texas A&M-Commerce and the University of Houston along with a MBA from Houston.�The Coastal Water Authority (CWA) coveys surface water (Trinity River) to the City of Houston’s water purification treatment plants and to its “untreated” water customers; industrial, agricultural and municipal, in Harris, Liberty and Chambers County.CWA is in the process of designing and building a second Trinity River conveyance system named the Luce Bayou Inter-Basin Transfer Project.� This involves a second system of a pump station, pipelines and canal to transport water from the Trinity River Basin to the City’s Lake Houston, which is in the San Jacinto River Basin.� Coastal Water Authority has been working closely with the staffs of the Texas Water Development Board and the City of Houston as to the most advantage financial means to accomplish this Project that is estimated to cost about $381,000,000.��

Jeff Gulbas, a partner in the firm's Dallas office, graduated from Texas A&M University (BA, Magna Cum Laude, 2003) and earned his law degree from Southern Methodist University School of Law (JD, with honors, 2006) where he served as Texas Survey Editor of the SMU Law Review. Jeff joined the firm soon after his graduation from SMU School of Law.� Jeff serves as bond counsel and underwriters' counsel in tax-exempt debt transactions for numerous political subdivisions, including independent school districts, cities, and counties.� Jeff also assists issuers of tax-exempt debt in planning for transactions involving economic development, short-term flexible repurchase agreements and other guaranteed investment contracts.� Jeff is a member of the American Bar Association, The State Bar of Texas, The Dallas Young Lawyers Association, The National Association of Bond Lawyers, and he is especially involved in the Texas A&M Association of Former Students.

Jan joined Baird in December 2014 after 25 years with RBC Capital Markets where she served as a Managing Director.� Prior to RBC, she worked at Underwood, Neuhaus & Co.� Throughout her career, she has completed more than 2,000 transactions and represented over 200 special districts in the Houston, Austin, San Antonio, and Dallas areas.� Jan specializes in Texas special districts including municipal utility districts, levee improvement districts, municipal management districts and improvement districts.� She has provided financial advisory services to several master-planned communities including, but not limited to, The Woodlands, Sienna Plantation, Clear Lake City Water Authority, Springwoods Village, Viridian, Pomona, Riverstone, Woodforest, Paloma Creek, Heartland and Savannah.� In addition, she has worked with major water authorities tasked with providing surface water to the Houston area, such as the West Harris County Regional Water Authority and the San Jacinto River Authority.�� A Houston resident, Jan graduated with honors with a BBA in finance from the University of Houston.� Jan serves on the Board of the Utility District Advisory Corporation (“UDAC”).� Ms. Bartholomew is registered with FINRA and holds Series 7, Series 63 and Series 52 licenses.

Christy Drake-Adams received her J.D. from Baylor University and her M.P.A. and B.A. from Texas Tech University. She was in private practice in Austin for seven years, specializing in municipal and local government law. In 2007, she began serving as an assistant attorney general on the Opinion Committee of the Office of Attorney General. Since October 2010, she has served as legal counsel with the Texas Municipal League (TML) where she advises member cities and officials in all areas of city business and provides legislative support services.