This presentation will review the process of borrowing for school construction projects beginning with the initial application for MSBA approval and the authorization of school construction bonds, through the sale and delivery of bonds for this purpose. Our discussion will review options to consider and requirements needed to be satisfied before any debt can be issued. We will review the factors to be considered in the development of a plan of finance for the project that suits the specific needs of the issuer, including budgetary impact, tax impact, whether to borrow short or long term, legal requirements needed to be satisfied, estimates of debt service costs and market conditions, timing factors, estimates of MSBA reimbursement, disclosure requirements, credit considerations, and more, to name the basics.
Abby Jeffers
Senior Vice President
Hilltop Securities
Profile
§ Has more than 20 years’ experience in public finance
§ Joined the firm in 2001
§ Provides quantitative and technical support in connection with the issuance of municipal debt
§ Has extensive experience in developing financing models and identifying and structuring refunding opportunities
Education
§ College of Criminal Justice, Bachelor of Science, Northeastern University, Magna Cum Laude
Licenses Held
§ Registered Representative of the Financial Industry Regulatory Authority (FINRA
Cinder McNerney
Senior Managing Director, Public Finance
Hilltop Securities
Areas of Focus
Advises municipal issuers on all aspects of debt issuance and credit considerations
Profile
§ Has 45+ years’ experience in public finance
§ Joined the firm in 2001
§ Specializes in problem credits and structured financings
§ One of three principals who started the Boston office of Fleet Securities; served as team leader of Fleet Securities’ and later Fleet Bank’s municipal advisory groups
§ Former vice president and manager of the municipal advisory group in Shawmut Bank’s government finance department
Education
§ Bachelor of Arts, Simmons College
Licenses Held
§ Registered Representative of the Financial Industry Regulatory Authority (FINRA)
§ Registered Principal of the Municipal Securities Rulemaking Board (MSRB)
Current Affiliations
§ Serves on Town of Swampscott finance committee, former chairman
§ Board member, Association of Town Finance Committees, past president
Other Affiliations
§ Member of the Massachusetts Municipal Association Fiscal Policy Committee
Monica Mulcahy
Assistant Vice President
Hilltop Securities
Profile
§ Has more than 7 years’ experience in public finance
§ Joined the firm in 2017
§ Provides quantitative and technical support in connection with the issuance of municipal debt
§ Has extensive experience in developing financing models and identifying and structuring refunding opportunities
Education
§ Bachelor of Science, Northeastern University
Licenses Held
§ Registered Representative of the Financial Industry Regulatory Authority (FINRA) Municipal Advisor Representative, Series 50
Michael Knight (Moderator)
School Business Administrator
Greater Lowell Regional Vocational Technical
Michael Knight, MBA is the School Business Administrator Greater Lowell Regional Vocational Technical School District. Michael has worked in the field of school business for 6 years and was credited with implementing cost saving strategies saving over $400,000 annually in his previous school district, Groton-Dunstable Regional. Previous to working in school business Michael worked in technology and construction sales.
Michael’s goal serving as a board member would be to help foster an environment of continuous learning and thought share within MASBO. The greatest strength MASBO has is the membership, there are millions of hours of experience collectively held by the MASBO membership and finding ways to share and memorialize the lessons learned from this experience would be his top priority.
When not crunching budget numbers, Michael enjoys playing golf, hiking with his dog, and watching sports.