Banco Popular de Puerto Rico

Tony joined Barclays Capital in 2009 from Citi, where he was a Managing Director andWestern Region Manager. He has been providing investment banking services to stateand local governments in the western states since 1983 and has structuring expertisewhich includes long-term fixed rate and variable rate revenue bonds, general obligationbonds, toll revenue bonds, sales tax backed special purpose bonds, certificates ofparticipation, lease revenue bonds and tax and revenue anticipation notes. Since 1983,Tony has senior managed over $80 billion worth of transactions including twoInstitutional Investor “Deals of the Year”, three Bond Buyer “Deals of the Year” andseveral transactions which were the first of their kind including the first taxable municipaloffering, the first foreign currency denominated municipal transaction and the first nonrecoursefinancing for a start-up toll road. Tony’s list of senior managed transportationclients include the Los Angeles County Metropolitan Transportation Authority, SantaClara VTA, the San Diego Regional Transportation Commission (SANDAG), the ContraCosta County Transportation Authority, the San Bernardino Association of Governments(SANBAG), the San Diego Metropolitan Transit Development Board of Directors, theTransportation Corridor Agencies (Orange County), the Bay Area Toll Authority (BATA)and six financings for transit agencies issued through the California Transit FinanceCorporation. Tony received his bachelor's degree in Mathematics from the University ofCalifornia, Los Angeles and an M.B.A. degree in Finance from the University ofCalifornia, Berkeley. At Barclays Capital, Tony sits as a member of the Pubic FinanceOperating Committee. Prior to becoming an investment banker, Tony was a middle andhigh school math teacher.

Rich leads a team of 170 banking professionals at U.S. Bancorp who serve the credit, capital markets and non-credit relationship banking services needs of state & local governments, 501(c)3 sector nonprofit institutions and financial institutions nationwide. These businesses serve 2,000 clients, provide $10 billion in committed credit facilities and generate over $250 million in revenue. Rich has 20 years of corporate and institutional banking, debt finance and municipal / nonprofit client sector experience. Prior to joining U.S. Bancorp in 2007, Rich spent 14 years at The Bank of New York, where he held numerous corporate and institutional banking client facing and managerial roles. Prior to BNY, Rich served in financial analyst and client coverage roles at National Westminster Bancorp and Kidder Peabody & Co. Rich holds an MBA in finance with distinction from New York University’s Stern School of Business and a BS degree in finance with cum laude honors from the University of Pennsylvania’s Wharton School of Business. He also holds FINRA Series 7 & 63 securities licenses.

Steve Heaney is a Managing Director Stifel. With more than 35 years of municipal finance experience, he has directed billions of dollars in public offerings for a wide variety of capital improvement projects throughout California and Nevada. Mr. Heaney has been a leader in creating public financing techniques to address the infrastructure needs of both large and small development and redevelopment projects, and is a frequent speaker on infrastructure finance issues. He is currently the Vice Chairman of the Board of the Municipal Securities Rule Making Board (the �MSRB�), and a former member of the Board of Trustees for the California City Management Foundation.

Faraz Khan is Vice President of Finance for the Seton Family of Hospitals which has 10 hospitals and over 200 employed physicians. Faraz has an MBA as well as a CPA and has worked in healthcare finance for more than 15 years. She is a Texas Health & Human Services Commission appointee to the Hospital Payment Advisory Committee. Faraz is also on the State of Texas Tobacco Settlement Advisory Committee. She serves on local boards including, Treasurer for Seton Cove and finance committee of the Indigent Care Collaboration.

Emily Raimes is a Vice President/Senior Credit Officer/Manager for the States and High Profile Ratings Team covering credits for the states of California and Delaware.� Prior to joining Moody’s in the beginning of 2006, Emily spent seven years at the New York City Office of Management and Budget, working primarily in Economic Analysis.� Emily holds a BA degree in government from Wesleyan University and a Master’s in Public Administration from New York University.

Steven A. Wolff, CMC, is the founding Principal of AMS Planning & Research Corp. and Audience Insight LLC. He works from the firm’s Connecticut headquarters. For 25 years, Steven has provided counsel to leading arts and entertainment enterprises in the planning and development of capital facilities, strategic initiatives and arts market and consumer research. Steven has participated in the development of more than $3 billion of new and renovated capital facilities for the arts. Steven has been instrumental in the planning of many of the most significant arts center projects in North America, including the proposed performing arts center at the World Trade Center site, the just opened AT&T (Dallas) Center for Performing Arts, the Dr. Phillips (Orlando) Performing Arts Center, and many others. Steven has guided projects through all stages of development from project definition through needs assessment to site selection, financing and project implementation and operation. In the area of strategic planning, research and management counsel, Steven has conducted assignments in program design and evaluation, management audits, long-range strategic planning and market research for national philanthropic foundations, including many national foundations, leading producers, presenters and national service organizations. Steven developed PAC Statssm, an international benchmarking initiative for major performing arts centers used by more than 30 of the largest performing arts centers in the US and aboard and leads innovative strategic planning efforts for clients from Harlem’s Apollo Theater to the Miami-Dade Department of Cultural Affairs. AMS’s research practice, Audience Insight is an acknowledged industry leader in arts consumer and market information whose clients include performing arts centers, symphony orchestras, commercial theatrical producers, presenters, children’s theater companies, ballet companies, museums and other arts agencies. Steven is on the faculty at the Yale School of Drama, where he received a Master of Fine Arts degree in theater administration, and teaches Decision Support. He is a frequent keynote speaker at national conferences and a guest lecturer at many major universities, including the Bolz Center for Arts Administration at the University of Wisconsin–Madison. Prior to founding AMS in 1988, Steven was a manager in the New York office of London-based Theatre Projects Consultants. He is a member of the Institute of Management Consultants and holds the designation Certified Management Consultant (CMC). Steven served as an officer on the Board the nationally-known Westport Country Playhouse (2001 – 2006) and on the Executive Committee of the New York Yacht Club (2002 – 2008). He is currently a board member and chair of the Arts Committee of the Fairfield County Community Foundation and on the board of the Mount Snow Academy.

Ms. Knights joined Williams Capital in February 2010 to lead the Firm’s public finance effort and grow this practice. As Head of the Firm’s municipal group, Ms. Knights manages the public finance banking team, works in partnership with the Firm’s Director of Fixed Income Securities and Fixed Income Underwriting to manage underwriting and distribution of securities and with the Firm’s Chief Operating Officer and CFO to ensure compliance with all reporting and operating requirements of our municipal practice. Ms. Knights has 20 years of municipal finance experience and has served clients nationally with numerous financings. Ms. Knights began her municipal career with JP Morgan in 1991, where she focused primarily on clients in the northeastern and Mid-Atlantic states. In 1998, Ms. Knights joined Bear Stearns where her practice expanded to include transportation issuers nationally. She was instrumental in growing Bear Stearns’ surface transportation practice from 6th in 2002 to 2nd in 2007. Prior to joining Williams Capital Group L.P. , Ms. Knights worked with Jackson Securities as head of the firm’s northeast banking efforts from August 2008 through January 2010. Ms. Knights experience covers a broad range of municipal sectors such as general infrastructure, transportation, pension funding and public utilities. She is well versed in financial structuring products including fixed and variable rate bonds, asset securitization, interest rate swaps and derivatives and public-private partnerships. She has provided primary banking coverage to the states of Connecticut, New York, New Jersey, Illinois and Oregon and cities nationally including New York, Chicago, Baltimore, Washington D.C., and Philadelphia. Ms. Knights’ transportation clients include many notable state department of transportation and mass transit agencies including New York State Thruway, Oregon DOT, Los Angeles MTA, Maryland Transportation Authority, Colorado RTD, Illinois Tollway and others. Ms. Knights has been a speaker at industry conferences on the topic of pension and other post-employment benefit funding. Between 2001 and 2004, Ms. Knights served as Adjunct Professor of Finance at New York University where she taught Fundamentals of Investment Banking. Ms. Knights earned her Bachelor of Science in Economics from the Wharton School at the University of Pennsylvania and completed her Masters in Business Administration at Columbia Business School. Ms. Knights holds the Chartered Financial Analyst designation along with the FINRA Series 7, 63, and 53 licenses.

Mr. Rumack is a 25 year veteran of the public finance industry and is currently the Team Leader for Municipal Credit Enhancement in Sumitomo Mitsui Banking Corporation’s Public and Infrastructure Finance Group. Since joining SMBC in September of 2008, Mr. Rumack has worked closely with a broad range of issuers across the country, providing Letters of Credit and liquidity facilities to support variable rate demand obligations and commercial paper notes.Prior to joining SMBC, Mr. Rumack was at Bayerische Hypo- und Vereinsbank (now part of Unicredit) for 10 years, where he was a Managing Director and headed the Public Finance Group. At HVB, Mr. Rumack built a multi-billion dollar credit enhancement portfolio and oversaw the development of a Tender Option Bond program. Mr. Rumack spent 11 years of his career in California and began his public finance career with Security Pacific Capital Markets Group after graduating with a finance degree from the University of Texas at Austin.Mr. Rumack has specific expertise in transit, transportation, water and sewer sectors, and has worked with States, Counties, Cities, School Districts, Governmental Enterprises and Authorities to facilitate their access to the short term markets. Mr. Rumack has Series 7, 24, 53, 63 and 65 Securities Licenses.Mr. Rumack is active in his community, serving as Treasurer for the West Windsor Parking Authority (one of the largest train stops on the Northeast Corridor) and has served on the board of numerous local youth sports programs, including acting as a Trustee for the Central Jersey Pop Warner Conference and Football Commissioner of the West Windsor Plainsboro Wildcats.

Mr. Taylor has been Executive Vice President and Chief Financial Officer for the University of California system since April 2009. As CFO, he oversees a myriad of financial matters for the University, including accounting, external finance, banking and cash management, strategic sourcing and risk management. Previously, Mr. Taylor was a Managing Director at Barclays Capital, after a long career at Lehman Brothers. Mr. Taylor worked with several state and local governments, as well as electric and natural gas utilities, in California, Arizona and Nevada, and structured floating rate, commercial paper, fixed rate and asset-backed transactions.Active in the community, Mr. Taylor currently serves as Chair on the Board of Directors of the James Irvine Foundation. Additionally, since December 2005, he has been a member of the Board of Directors of the J. Paul Getty Trust and recently joined the Board of Directors of Edison International. In the past, he served as alumni representative on the University of California Board of Regents (1998 until 2000), President of the UCLA Alumni Association (1996 to 1998) and Chair of the UCLA Foundation Board of Directors (2002 to 2004). Mr. Taylor received his undergraduate degree from UCLA. He completed a one-year graduate level fellowship with the Coro Foundation, and obtained his Master's Degree in Public Policy Analysis from Claremont Graduate University.