Ms. MacLean joined UFASI in September, 2001. Prior to joining UFASI, Ms. MacLean worked in the government finance department of a major regional bank providing financial advisory services to various cities, towns, and districts. Ms. MacLean has over twenty years’ experience as a municipal financial advisor and in August 2018 was named Principal of UFASI. In August, 2019, Ms. MacLean was a member of the MSRB’s Series 54 Pass Point Study Committee. As Principal of UFASI, Ms. MacLean is responsible for overseeing compliance with regulatory requirements, including that services be provided consistent with the requirements for a “duty of care” and a “duty of loyalty” to a municipal advisory client.
Some of Ms. MacLean clients include the Boston Water and Sewer Commission, the towns of Westborough, Hopkinton, Milford, and Holbrook. She also serves the Concord-Carlisle Regional School District, the Dover-Sherborn Regional School District, and the Dedham-Westwood Water District. She also is the advisor for all of UFASI’s Regional Transit Authority Clients which include, the Greater Attleboro-Taunton Regional Transit Authority, the Lowell Regional Transit Authority, the Cape Cod Regional Transit Authority, the Southeastern Regional Transit Authority, the Franklin Regional Transit Authority and the Martha’s Vineyard Regional Transit Authority.
Ms. MacLean is the lead advisor for the Towns of Swansea and Winchendon. Both Towns have had significant financial pressures in the past. To address these difficulties, each Town obtained special legislation to permit the issuance of deficit financing bonds. Ms. MacLean worked with each Town to negotiate with underwriters and to coordinate discussions with rating agencies regarding their bond ratings. To enhance the credit of each Town’s financing, Ms. MacLean helped both Towns get approval for the issuance of state qualified bonds for all of their authorized unissued debt. (Under the Massachusetts state qualified bond program, debt service for qualified bonds is paid by the state treasurer from the local aid distribution of the issuer.)
The Town of Milford authorized $63 million in September, 2017 for the purchase of the Milford Water Company. The Town was issuing refunding bonds in October, 2017 for a portion of their outstanding 2006 General Obligation Bonds. The large amount of potential debt the Town was anticipating incurring raised concern with Moody’s Investors Service. The Town was aware of the potential for a downgrade in rating due to this new authorization. Ms. MacLean worked with the Town to help show the rating agency the Town had prepared for the anticipated new debt and thus avoid a rating downgrade for the refunding issue.
Ms. MacLean is also the lead advisor for the Town of Georgetown, Massachusetts. In 2012, the Town applied for and received an allocation of Qualified Energy Conservation Bonds (QECBs) from the Massachusetts Department of Energy Resources for its energy conservation project. QECBs are taxable securities for which either the Issuer or the Bondholder receives a direct subsidy from the United States Treasury. The Town chose to issue Direct Pay bonds (subsidy to the Town) and sold the issue on a competitive basis in October 2012.
Ms. MacLean has a Bachelor of Science in Accounting from Bentley College in Waltham, MA. She is a Series 54 licensed Municipal Advisor Principal and a Series 50 licensed Municipal Advisor Representative.
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