peter ross to carry it through. director nolan: thank you. appreciate it. good morning mr. ross. >> good morning. peter ross with ross financial. happy to be here today. i apologize in advance for my voice. i'm recovering from a cold and hopefully past the incubation period. i'm going to be discussing the process of the establishing the m.t.a. as a credit worthy issuer. and in today's times, this is more important than ever. you want to establish yourself to investors that you're fully capable of paying your debt on time and in the amount that you say you would. you read all sorts of hysterical articles these days in the "new york times," "wall street journal". you know, warren buff eliminate, as an example, was saying municipal debt will be the next bubble akin to the mortgage crisis that we just experienced. that's really not going to be the case. the one way of proving it is to demonstrate that you are a credit-worthy issuer. so the first step is to velt a debt policy -- develop a debt policy. a debt policy is really a very basic form of best practices. it is something that just about every major issuer adopts. what it does

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 rossthis is our financial advisory team. as you know, we're moving to bond financing because it gives us more flexibility over what we need to be able to do as far as our capital projects right now. we have funding coming in, but sometimes it's only utilized in accordance with whatever the grantor states. we need to have more flexibility to fill some of the needs that we need right now. that's why we're moving on to this endeavor. without further ado, i would like to bring up mr. peter