Michael became the Executive Director and Secretary of the Bond Bank in 2018. He is also the Executive Director of the Vermont Educational and Health Buildings Financing Agency. He is the Bond Bank’s representative to the State of Vermont’s Capital Debt Affordability Advisory Committee. Michael was previously a Director for the National Development Council (NDC)—a national community development finance nonprofit and PNC where he served as a public finance banker focused on governmental, housing, and community facilities transactions. Michael is on the Executive Committee of the City of Burlington’s Planning Commission, board member of the NESGFOA, and an advisor to the GFOA’s Committee on Economic Development and Capital Planning. He earned a Bachelor of Arts degree from Middlebury College and a Master of City Planning degree from the University of Pennsylvania.
Kurt Forsgren is a managing director in S&P Global Ratings group based in Boston. Kurt has over 30 years of experience at S&P, working in U.S. Public Finance, the Project Finance team in Corporate Finance and serving as head of the Boston Office in a market development and investor outreach role. More recently, Kurt was part of S&P Global Rating’s Sustainable Finance team and currently is the Sector Lead for Transportation Infrastructure where he works as a primary analyst, chairs credit committees, generates industry research and serves as spokesperson on transportation, climate risks, and environmental, social, governance topics. Prior to joining S&P Global’s San Francisco office in 1992, Kurt was a transportation consultant at KPMG focusing on airports. Kurt is a member of the National Federation of Municipal Analysts and Boston Municipal Analyst Forum. Kurt earned a bachelor’s degree in economics and political science from the University of Maine and a Master of Government Administration degree from the Fels Institute of Government at the University of Pennsylvania. He is a husband and father of three adult boys just graduated or still in college.
William J. Fazioli was appointed as the Executive Director of the Rhode Island Infrastructure Bank in August 2023. Bill has over 35 years of public administration experience in municipal finance, economic development, and infrastructure investment. Most recently, Bill was the Director of Planning & Economic Development for the City of East Providence where he oversaw the city’s largest ever residential, industrial and commercial developments which were shepherded through the midst of the Covid 19 pandemic. His background includes senior financial advisory roles with the nation’s largest public finance firms where he implemented successful municipal debt financings for notable regional clients including Boston, MA, Manchester, NH, New Haven, CT, Burlington, VT and Providence, RI. He previously also served as the Executive Director of the New England States Government Finance Officers Association for over 20 years. Bill continues to serve as Chair of the East Providence Waterfront District Redevelopment Commission that is charged with the revitalization of Brownfield properties into vibrant mixed use development projects. Bill earned an MPA degree in public finance from SUNY-Albany and a BA in public administration & sociology from Rhode Island College.
David Erdman, is a managing director of Baker Tilly Municipal Advisors, LLC, has over 30 years of public finance experience at a major state-level issuer and is an active advocate and leader for municipalities in the municipal bond market. David is a part of the national large issuer team supporting the Midwest.
Mr. Doe founded Municipal Market Analytics (MMA), an independent research firm based in Concord, Massachusetts, in 1995. MMA’s core business is to provide strategic analysis and commentary on historical and quantitative conditions of the US municipal market. MMA also provides its Portfolio Credit Benchmark (PCB), an enterprise risk solution, for bank portfolios and Separate Managed Accounts (SMA), to perform credit reviews of municipal holdings effectively and efficiently. The firm’s proprietary indexes and data sets have proven invaluable to its clients to improve profitability and performance. Throughout his career, Mr. Doe has addressed all the leading groups in the municipal industry. His insight, integrity, and historical context is sought to establish a clear perspective of current conditions impacting investors and issuers in the municipal cash and derivative markets. He has testified before the Senate Banking Committee on the future of municipal regulation and the state of the industry and the Securities Exchange Commission (SEC) to provide insight into the market’s stability and liquidity. Mr. Doe had the honor of addressing the National Governors Association’s winter meeting regarding the state of public finance. Mr. Doe’s recent attention has been on innovative means to generate new revenue for states and cities addressing such topics as marijuana legalization, gaming, driverless cars, and drones. Currently, he has focused on the impact of climate risk on investor behavior and the ability of issuers to raise capital for essential infrastructure needs such as resilience and adaptation. Mr. Doe’s expertise regarding the intersection of climate and municipals was acknowledged by his appearances before the SEC municipal enforcement group in 2023 and as a panelist at the SEC’s annual compliance conference in 2023 regarding climate disclosure in municipal offering documents. Finally in January 2024, he provided testimony to the Senate Budget Committee on the topic of municipals and climate. Mr. Doe has served as a public member on the Municipal Securities Rulemaking Board (MSRB), the regulatory entity of the municipal securities industry. In addition, he has been on the advisory boards of: Public Wealth – Detter Co, Stockholm Sweden and, risQ, a climate risk analytics firm for the municipal bond market, Boston MA. He is on the advisory board of the Center for Municipal Finance at the Harris School of Public Policy at University of Chicago.
Mr. DeMichiel is a 40-year veteran of the municipal bond industry who joined BofA’s municipal finance group from Citigroup in March 2024. During the last 25 years of his tenure at Citigroup he focused on aviation infrastructure finance and headed the Airport Finance Group. Mr. DeMichiel has completed airport revenue bond financings for many airports across the United States including Detroit Metropolitan Wayne County Airport, Norman Y. Mineta San Jose International Airport, Salt Lake City International Airport, Hollywood Burbank Airport, San Francisco International Airport, Massachusetts Port Authority, Hartsfield-Jackson Atlanta International Airport, and the Port Authority of New York and New Jersey. He has also acted as lead banker for special facility bond issues for United Parcel Service, Korean Airlines, Federal Express, Delta Air Lines, Inc., Lufthansa German Airlines, Air France KLM, American Airlines and United Airlines, Inc. and airport P3 transactions for LaGuardia Gateway Partners, JFK International Airport LLC and JFK New Terminal One. Mr. DeMichiel’s role in financing the redevelopment of New York City’s airports was recently recognized by Politics NY which named him one of its power players in aviation for 2023.
Mr. Creedon has over 38 years of experience serving the strategic and financing needs of state and local governments, Not-for-Profit institutions and project and infrastructure entities, nationally. Paul recently joined Janney and is focused on expanding the Firm’s geographic and product mix in the infrastructure space. Paul has significant industry experience serving as Co-Head of Municipal Banking and Public Finance at Citigroup Global Markets as well as Head of Surface Transportation where he worked closely with issuers throughout the country to address their infrastructure financing needs. Paul’s banking and leadership roles have spanned a variety of products and focus areas. His banking experience includes general infrastructure finance, project finance, transportation finance and the securitization/monetization of assets and revenue streams for state and local governments. Paul has served as lead banker to some of America’s most prominent infrastructure providers. His finance and structuring experience runs the gamut of credit and financing structures with particular emphasis on complex credits and transaction structures with multiple stakeholders including public, private and Federal participants. Prior to investment banking, Paul was a municipal credit analyst at Moody’s Investor Service where he worked with state and local governments throughout the U.S. Mr. Creedon received a B.A. in Economics from Villanova University and an M.B.A. from New York University’s Stern School of Business.
Jeanne Chipperfield is the Chief Financial Officer for the North Texas Municipal Water District, located in Wylie, Texas. The District provides water, sewer and solid waste services for more than 2.3 million people in one of the fastest-growing areas of the nation. In 2025, NTMWD invested about $1.4 billion in its capital improvement program, including design, construction and maintenance of infrastructure, with about $1.77 billion planned for 2026. Chipperfield is responsible for all financial, accounting, procurement and human resources operations of the District. Chipperfield has more than 25 years’ experience in all aspects of municipal finance. Previously, she served as the CFO for the City of Dallas.
Ted Chapman is a managing director in Hilltop Securities’ Dallas office, specializing in credit strategies and hot topics in the municipal bond universe.
Before joining HilltopSecurities in 2021, Chapman spent more than 20 years as a credit analyst at S&P Global Ratings where he served as their subject matter expert and rating criteria author for water utility municipal bonds, as well part of the global team that developed S&P’s initial views on sustainable finance and ESG. Prior to S&P, he was El Paso (Tex.) Water Utilities’ first-ever budget officer.
He has published commentaries on a wide range of municipal market topics, including affordability, resilience, and climate risk management. He has been recognized as a “municipal all-star” Wall Street analyst by Smith’s Research and Gradings every year since 2016. Chapman is an active member of the NFMA, American Water Works Association – including a member of its Finance, Accounting, and Management Controls committee and its Climate Change committee – and the Water Environment Federation. In 2017 he was appointed by the EPA Administrator to serve on the U.S. Environmental Protection Agency’s (EPA) Environmental Financial Advisory Board (EFAB), where he served through 2023.
Ted holds a BA in political science from the University of Arizona and an MPA from the University of Texas at El Paso.
Julie Burger is the Co-Head of Public Finance at Wells Fargo Corporate & Investment Banking, which includes regional & specialty coverage teams, bank direct purchase, and derivative solutions. In her current role, she is responsible for leading the origination arm of the Municipal Products Group, with a particular focus on transportation, P3 and infrastructure clients. In addition to her responsibilities for the broader origination activities within Public Finance, Ms. Burger is also directly responsible for coverage of Public Finance’s national surface transportation engagements. She is a recognized expert within the transportation sector, having senior managed over $25 billion in par amount of toll revenue bonds, highway revenue bonds, sales tax revenue bonds, and obligations secured by future federal funds for both highways and transit agencies. Ms. Burger also possesses extensive experience with project-based financing, including non-recourse toll revenue bonds, TIFIA/RRIF loans, and P3 project delivery. Ms. Burger was named a Bond Buyer Rising Star in 2019 and has helped lead the execution of 5 transactions nominated for regional Bond Buyer Deal of the Year Awards.