EXECUTIVE SUMMARY Saber Partners, LLC (“Saber”) is ideally qualified to serve you in this role, and to help manage

the entire evaluation and implementation process. We commend you for seeking unbiased, independent expert advice, free from conflicts of interest or past relationships with management or resources used by management, as you seek to understand and implement the best solution to the challenges facing the school district. This is critical for the Board to discharge its fiduciary duty and to exercise its own independent judgment. Saber has published in this area and been a leader for responsible oversight in the public and private sector (see, for example, “Viewpoint: How Directors Can Become Truly Independent,” NACD Directors Monthly, at Tab E). Using informed, independent information to evaluate management proposals is not micro-management. The Board’s proactive approach to identifying and obtaining the assistance it believes it needs to evaluate and implement the complex issues connected with the 2008 PCOPs is a significant step toward best protecting the interest of the district, its residents and its students. We have a record of independence, integrity, innovation and success. This record has been proven over 15 decades of combined experience in the municipal and corporate finance areas relevant to the Board under this RFP. It includes tax-exempt and taxable debt refinancings and restructurings; liquidity facilities and agreements; auction rate securities and variable rate demand bonds; and pension fund liabilities and finance. We respectfully believe we are the best choice to serve as the Board’s Financial Adviser. Who We Are and How We Work Saber provides its clients an unparalleled combination of senior-level experience, analysis and advice. For the past ten years, Saber has served as a principled senior advisor to elected officials (e.g., Governor of California, Attorney General of Hawaii), regulators (U.S. Securities & Exchange Commission; Secretary of the Commonwealth of Massachusetts; Public Service Commissions of Texas, Wisconsin, West Virginia, Florida) and corporate and municipal executives navigating Wall Street to achieve maximum benefit at minimum cost. In the process, we have become one of the nation’s most trusted advisors for regulators, public-sector authorities and commissions. Our team’s senior advisors each have 20 to 30 years of high-level financial experience building their careers in finance from the bottom up and – equally important – impeccable discretion. The Board can trust that Saber’s recommendations are always free from any conflicts of interest and the interlocking relationships that often plague other firms’ advice. Saber does not underwrite or trade municipal bonds or other securities. The Saber Team for the Board engagement would include: • Joseph S. Fichera, Saber’s founder and Chief Executive Officer, who would be the leader and principal point of contact for the Board engagement. Mr. Fichera has an extensive background in taxable and municipal debt and capital markets, and providing senior-level advice to top government and corporate officials. Brian Maher, a former senior finance executive at Exxon and ExxonMobil. Among his many duties, Mr. Maher was responsible for corporate financing strategies, debt issuance and management, and global insurance and pension operations. Mr. Maher has also served on the New York Stock Exchange Pension Advisory Committee. Saber Advisory Board members, including Vice-Chair Andrew Kalotay. These and other uniquely qualified specialist experts serving on our Advisory Board would be available to the Board through Saber.

Other Saber Partners advisors would be assigned to this engagement, if and as appropriate, such as Michael Noel, Jeremy Tennenbaum and Paul Sutherland. Saber would also have the capability, if required and with the Board’s prior approval, to engage other professional consultants that might add value to any specific issues identified in the course of Saber’s work. We stress that we do not depend on other financial service providers, underwriters or brokers for referrals. Our independence and integrity, backed by innovation and proven success, can truly help the Board ensure it makes fully informed, sound financial decisions. Tennenbaum, Paul Sutherland, Andrew Kalotay, and Alan Blinder. Team members have particular areas of primary responsibility, but support each other’s lead responsibilities. Additional personnel will be assigned as needed and, depending on the specific needs of the Board as they may arise, Saber may engage other professional consultants with whom it has longstanding relationships, as appropriate and with the Board’s prior approval.

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