D. Michael Bowen, Principal and First Vice President mbowen@bernardisecurities.com Mr. Bowen is a Principal of Bernardi Securities, Inc. and Managing Director of the Public Finance Department. Since joining Bernardi Securities, Inc. in 1989, Mike has provided debt structuring assistance to counties, municipalities, school districts, park districts, and other entities throughout Illinois. Mike's financing experience ranges from general obligation financing to more complex revenue-backed structured financing for issuers in both capped and non-tax capped counties whose issue size ranges from $100,000 to $20 million. Due to his dedication and commitment to the municipal market, Mike has developed financing solutions to meet the wide range of needs of our issuer clients. Prior to joining Bernardi Securities, Inc. Mike was Vice President of the Public Finance Department of a major St. Louis bank and had worked at the local government level for more than 25 years. He has served as a member of the East-West Gateway Executive Advisory Council in St. Louis, Missouri and as Chairman of the Board of Trustees at Belleville Area College. Mr. Bowen holds an M.P.A. in Public Administration from Southern Illinois University.
	Robert P. Vail, Vice President rvail@bernardisecurities.com Mr. Vail joined the firm in 1998 and manages the Public Finance office in Chicago. Bob is responsible for structuring general obligation and revenue-backed bond issues for client's in both capped and non-tax capped counties. Bob has helped numerous municipalities, counties, school districts, and park districts throughout Illinois find immediate and future financing, refinancing and debt restructuring solutions. He has extensive knowledge in advanced and current refunding bond issues, alternate revenue source bonds, enterprise system revenue issues, and debt and levy structuring. Bob holds a B.S. in Finance from the University of Kentucky and the Series 52 and Series 63 securities licenses.
	Stephen Adams, Assistant Vice President sadams@bernardisecurities.com Mr. Adams joined the firm in August 2003. Steve is responsible for quantitative analysis, refunding analysis, and due diligence. He is also responsible for the research, preparation, and evaluation of Preliminary and Final Official Statements. Prior to joining Bernardi Securities, Inc., Steve served as a program administrator at the Illinois Rural Bond Bank. Steve holds a M.B.A. from the University of Illinois and the Series 52 and Series 63 securities licenses.
	Daniel B. Simpson, Assistant Vice President dsimpson@bernardisecurities.com Mr. Simpson joined the firm in July of 2003. Dan is responsible for performing credit analysis, refunding analysis, and executing transactions involved with the closing of municipal bond issues. He is also responsible for research, preparation, and evaluation of Preliminary and Final Official Statements. Prior to joining Bernardi Securities, Inc., Dan worked on the floor of a futures and options exchange as a broker's assistant. Dan holds a B. S. in Economics from the University of Utah and the Series 52 and Series 63 securities licenses.
	Beth Buettner, Public Finance Associate bbuettner@bernardisecurities.com Ms. Buettner joined the firm in March of 2004. Beth is responsible for gathering, analyzing and organizing data necessary to produce Preliminary/Final Official Statements, Purchase Contracts, RFP Proposals and all other pertinent documents related to the bond financing. She also serves as a liaison for the parties involved throughout the issuance process and coordinates the closing of municipal bond issues along with providing continuing disclosure services.