secondly we have the backstrom mccarley berry team also with robert kuo consulting, and scott balice strategies. and ross financial also with robert cuo consulting and capital partnerships. i wanted to briefly go over what each team will be concentrating on. for the lead, public finance management, we're going to be concentrating on the financial planning and the debt management function yament. -- functionality. with backstrom mccarley berry & company we're going to be concentrating on the city garages and the central projects. and with ross financial, we're concentrating on alternative revenue analysis, fleet management plan and leverage, lease transactions. i'd like to introduce the engagement partners for each group. first standing up, the partner with public financial management, peter shellenberger. director nolan: good morning. >> next to him would be with backstrom mccarley berry & company would be vincent mc carly and last but not least, for ross financial, would be peter ross. this is our financial advisory team. as you know, we're moving to bond financing because it gives

we will work closely with ross financial and backstrom mccarley to make sure that we first hear your direction and implement a program that allows you to access the market and deliver projects that are important to you in a timely and cost effective fashion. on page 7 -- let me step back here for a moment. really, the purpose of today is to be fairly high level. this is very introductory. it is to introduce you to the process, what we're going to be doing over the next six to eight months with the objectives here before you. the end goal here is to establish the m.t.a. as a new and credit worthy municipal bond issuer. and that means first determining what makes sense for you, how much you could manage in terms of an amount of debt while still allowing you to operate your primary service, do what your primary mission is. now, there are certain steps we have to go through. we will come back to you with a debt policy. we will have an interactive process. talking about what should be included in the debt policy what the debt policy will determine. typically determines what projects move

vincent mccarley, c.e.o. director nolan: glad you're here. >> thanks for the opportunity. i want to talk about the bond process what will be involved is a number of professional that would be working with you. one of the key items to keep in mind is that the m.t.a. is the most important player of all. they're in a nukelyious of the transaction. and each of the professionals will be working on your behalf in terms of carrying the transaction forward. if you look at this diagram here, if you look to basically 7:00 there, you'll see the financial advisory which is the role that this team will be playing. also involved will be the underwriter, the entity, which will be selling the bonds to the marketed place, in the investors. other key characters that will be involved will be bond counsel. they will be basically providing opinions that the bonds meet the various tax requirements. also that the various authorities have been in place, and that you actually have legal authority to enter into the specific transaction. another key entity will be disclosure counsel. what's been in