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February 8-9, 2018 Ehlers WI Public Finance Seminar

Kalahari Resort | 1305 Kalahari Drive | Wisconsin Dells, WI 53965 | 1-877-525-2427

Get in the Game...Get in the Game...

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Welcome to Ehlers’ Annual Public Finance Seminar - Get in the Game… Tackle Public Finance.

We celebrate the hard work and dedication of countless public finance and development professionals who work each day to tackle

local obstacles and score points with their communities. Just as the Pro Bowl brings together the most skilled

and celebrated players, we have assembled our top draft picks from around the state to share their wisdom and experience

with you at Ehlers’ 22nd annual seminar.

Thursday, February 8 Get in the Game...Get in the Game...

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Day One7:30 a.m. – Registration/Breakfast

8:45 a.m. National Anthem: Welcoming Remarks Speaker: Steve Apfelbacher, Ehlers

9:00 a.m. (Choose One)

Fantasy Football: Trends in Public Finance The Republican controlled Congress is poised to enact the first significant tax reform since 1986, that will have broad reaching impacts on the municipal debt market. From the potential elimination of refunding opportunities to changes in how development incentives are taxed, the reform, if enacted, will have an impact to the rules of the game for the upcoming season.

Moderator: Dawn Gunderson, Ehlers Speaker: TBD

From Training Camp to the Super Bowl: Basics of TID Understand how to create a winning Tax Increment District for your community.

Speaker: Phil Cosson, Ehlers

10:15 a.m. (Choose One)

Rookie Contracts: Debt 101 – Basics of DebtAre you planning to finance a significant project in 2018, or have existing debt that should be refunded? This session will introduce you to the basics of issuing debt in Wisconsin. You will learn about different types of debt options, key legal considerations, who you will work with at each step, and the process from beginning to end including authorization, bond ratings, day of sale, closing, and post-issuance compliance. These tools will help you become the Rookie of the Year.

Speakers: Chris Hetland and Sean Lentz, Ehlers

Trading Draft Picks: Developer pro forma AnalysisMatriculating your way through a project pro forma is only part of the game; you have to read the game flow and utilize the right players. Besides understanding the X’s and O’s of the project operations, a keen strategist will also consider the effect of cap rates on the assessed value, which also affects TIF increment and payback projections. Lastly, like reviewing game film, a confirmation of cost savings and project returns via a “lookback” analysis can ensure funds were properly applied, and share in the project’s success.

Speakers: Frank Roman and Mike Harrigan, Ehlers

11:15 a.m. (Choose One)

Man-to-Man Coverage: Debt 201 – Debt AdministrationIssuing bonds is merely the beginning of your relationship with debt administration. There are important, ongoing tasks related to managing your debt portfolio, whether accessing capital in the public markets or the local bank. Learn about the key aspects of debt administration, such as establishing the proper funds and accounts, investment of debt proceeds, reviewing sufficiency of revenue sources, tracking and maintaining debt service funds, rating surveillance and setting yourself up for success in the areas of continuing disclosure and arbitrage compliance.

Speaker: Brian Reilly, Ehlers

Getting to the Playoffs: InvestmentsWhen local governments finance their projects through the issuance of bonds, they receive large sums that may be spent over a relatively long period of time. With short-term interest rates on the rise, what are the options for investing that could earn the local government a competitive rate of return? Are there ways to plan the safekeeping, investment and spenddown periods while not subjecting the local government to IRS scrutiny regarding arbitrage regulations?

Speakers: Ken Herdeman and Jack Fay, Ehlers Investment Partners

10:00 a.m. – Break

Thursday, February 8 Get in the Game...Get in the Game...

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Day One

1:15 p.m. (Choose One)

Flag on the Play:Obtaining a Credit RatingObtaining a credit rating is generally an important part of the debt issuance process. Our panel will delve into the General Obligation credit matrix that is used for rated issues. They will answer questions and provide perspective on current topics of interest relative to the process and outcomes related to local government ratings.

Moderator: Maureen Holsen, Ehlers Speakers: Eric Harper, S&P; Tatiana Killen, Moody’s

Forward Progress: Financial Management PlansA Financial Management Plan (“FMP”) is a tool that can be used to integrate operational needs, capital projects, and economic development initiatives into a comprehensive financial model. Hear how the Village of Saukville used an FMP to achieve consensus and how the Village has used the FMP to guide its annual budget process.

Speakers: Greg Johnson, Ehlers; Barb Dickmann and Dawn Wagner, Village of Saukville

3:45 p.m. Drafting and Retaining your team: Conditions affecting the local government employment marketplaceThis workshop will focus on the pressure points caused by current workforce trends, and other factors influencing the recruitment and retention of local government managers and other workforce talent. Additionally, we will spotlight how to prepare your organization to successfully address an employment outlook that only promises to get more competitive.

Moderator: Jim Mann, Ehlers Speaker: Lee Szymborski, GovHR USA Senior Vice President

12:15 p.m. – Lunch

2:15 p.m. – Break

3:30 p.m. – Break

5:00 p.m. – Reception | 6:30 p.m. – Dinner on your own

2:30 p.m. (Choose One)

Finding the Open Receiver: Tax Credit Development - NMTCTax Incremental Financing isn’t the ONLY tool when it comes to funding gaps in economic development initiatives. Tax Credit programs have been a key and were mostly spared by the Federal Government in the recent Federal Tax Reform legislation. West Allis has been a pioneer in the use of the New Market Tax Credits. John Stibal and Patrick Schloss run the Community Development program and the First-Ring Industrial Redevelopment Enterprise (FIRE) program that serves as a conduit for these funds. Tyler Inda of Baker Tilly is a key advisor to many practitioners using NMTC’s… Come learn what this is all about.

Moderator: Mike Harrigan, Ehlers Speakers: Patrick Schloss and John Stibal, West Allis; Tyler Inda, Baker Tilly

Gatorade Bath: Key Metrics for UtilitiesWhen doing a utility rate study we are frequently asked questions such as “how much unrestricted cash should we have?” “Is our equipment replacement fund over or underfunded?” “Should we use cash or debt financing for this upcoming project?” “Is our rate of return sufficient?” “When do we reach a point of having too much debt, and when do our user rates become too high for our customers?” This session will examine some of the key metrics for evaluating the health of utilities, including factors evaluated by Moody’s and Standard & Poors for rating revenue bond debt, as well as factors evaluated by the PSC in review of rate cases.

Speakers: Jon Cameron and Brian Roemer, Ehlers

Friday, February 9 Get in the Game...Get in the Game...

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Day Two

8:30 a.m. Checking the Scoreboard: Legislative UpdateRecap of the 2017-2018 legislative session to date, accomplishments and setbacks, League legislative priorities and a preview of the 2018 race for Governor and implications for policy agendas.

Moderator: Todd Taves, Ehlers Speaker: Jerry Deschane LWM

10:15 a.m. 4th Down: Large Employer Impacts to your Local Government EconomyThe City of Verona’s EPIC Systems Corp, The City of Oshkosh’s Oshkosh Corporation and now Foxconn Corp. which will be in the Village of Mt. Pleasant are all mega employers that have or will have huge impacts on the tax base of these communities. While everyone wants to score the game winning touchdown by landing these kinds of businesses. Mayor Hochkammer, City Manager Rohloff and Racine County Business Development Manager, Ms. Million will speak about the additional impacts that these companies brought or are expected to bring to their communities both operationally and economically.

Moderator: Mike Harrigan, Ehlers Speaker: Jon Hochkammer, Mayor of Verona, Mark Rohloff, Oshkosh City Manager, Laura Million, Mgr. of Bus. Dev., Racine Cnty. Econ. Dev. Corp.

11:45 a.m. 2-Minute Warning: ClosingSpeaker: Mike Harrigan, Ehlers

7:30 a.m. – Breakfast

9:45 a.m. – Break & Check-out

ABOUT THE WORKSHOPSEhlers conducts seminars and educational programs on topics of interest in the area of public finance and acts as a financial consultant to the public sector for bond issuance, economic development and redevelopment projects. This seminar is for state and local public officials and staff, public attorneys and others who want to develop a greater understanding of public finance. The presenters at this workshop have worked directly on a number of projects and have a vast knowledge of how public finance works and how to prevent mistakes.

The following Continuing Education Credits have been applied for: WMCA, MTAW, State Bar of Wisconsin.

Seminar Location and Information:Kalahari Waterpark Resort & Convention Center 1305 Kalahari Drive • Wisconsin Dells, WI 53965 1-877-525-2427

Fees and Payment Policy:Registration Fee: $230 for Public Entities and $280 for Private Entities (includes continental breakfasts, lunch and reception)

Registrations must be received by Wednesday, January 31, 2018. Volume Discount of $15/person for municipalities sending 3 or more people.

Please make checks payable to Ehlers.

Cancellation Policy:Registration fee is fully refundable for cancellations made prior to 4:00 p.m. Friday, February 2, 2018. Full refunds will be made should the seminar be cancelled.

*Attendify Seminar Application:Registrants will receive login information for the seminar application Attendify by February 2, 2018.

I am registering for the Public Finance Seminar – $230 (Public entities)/$280 (Private entities). For public entities only, if sending three or more registrants a $15 discount per registrant will be applied. Registration fee includes seminar materials, continental breakfasts, breaks, lunch and reception.)

I am unable to attend, but I would like to subscribe to the online materials ($100.00 – includes tax).

NAME: ______________________________________________________________________________________________________________________

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CITY/STATE: ___________________________________________________________________ ZIP: __________________________________________

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Please indicate below which program you are interested in attending. You may only select one topic per session:

HOTEL INFORMATION: For your convenience, a block of rooms has been reserved at the Kalahari Waterpark Resort.

The Kalahari will be providing a discounted room rate of $104. The room reservation deadline is Monday, January 8, 2018.

Your group code is: 27828Put your group code in and hit continue. Follow instructions on website to reserve your rooms. Please note, the rooms will be available online until the cutoff date or until the rooms are gone, whichever comes first. After January 8, the Kalahari will take phone reservations

at 1-877-525-2427 until the block is full. Tell them you are with the Ehlers Public Finance Seminar.

REGISTRATIONYou can pay online using PayPal

when you register online. Or, if you prefer, you can send a check

payable to Ehlers to:2018 Public Finance Seminar, c/o Ehlers N21W23350 Ridgeview Parkway West,

Suite 100, Waukesha WI 53188-1015Seminar Registration Hotel Registration

Thursday 9:00 a.m. Fantasy Football: Trends in Public Finance From training camp to the Super Bowl: Basics of TID

Thursday 10:15 a.m. Rookie Contracts: Debt 101 – Basics of Debt Trading Draft Picks: Developer pro forma Analysis

Thursday 11:15 a.m. Man-to-Man Coverage: Debt 201 – Debt Administration Getting to the Playoffs: Investments

Thursday 1:15 p.m. Flag on the Play: Obtaining a credit rating Forward Progress: A Financial Management Plan

Thursday 2:30 p.m. Finding the Open Receiver: Tax Credit Development Gatorade Bath: Key Metrics for Utilities