Mr. Mark Prussing

Mr. Carlson will team with Mark Prussing, Vice President, as lead bankers in the Washington Schools Group.
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Mr. Prussing has been involved in public finance for more than 25 years.He began working with Washington school districts after initially joining SNW in 1986 and has been responsible for developing and implementing financing plans for some of the largest school bond issuers in Washington.
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Prussing and Carlson.

Mark PrussingInvestment Banking206.689.2780
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Mark W. Prussing, CPA

Vice President
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Mark Prussing has been involved in public finance in the Northwest and Alaska for nearly 22 years.His depth of experience comes from a unique combination of investment banking, public service and public accounting.As an investment banker, Mr. Prussing has been instrumental in the completion of over $1 billion in project financing in Washington, Oregon and Alaska.

While serving as the Alaska State Comptroller, he was responsible for the financial reporting, safekeeping and management of nearly $10 billion of investments, including those of the Public Employees Retirement System.

Mr. Prussing is a Certified Public Accountant and his experience in auditing municipal governments and non,profit organizations, gained while working with KPMG, helps provide a well rounded understanding of public finance.

Most recently, Mr. Prussing acted as Chief Financial Officer for BondNexus Corporation, a joint venture of 12 regional underwriting firms, whose purpose was the development of an internet,based underwriting communication platform.BondNexus was sold to Bonddesk and is now the Bonddesk Syndicate underwriting platform.

Mr. Prussing is a cum laude graduate of the University of Utah where he earned a bachelor's degree in accounting.

Mark PrussingSNW Personnel
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Mark Prussing

Vice President and CPA

Mark Prussing is a Vice President in Investment Banking for the Public Finance department, specializing in Washington School Finance.

Mr. Prussing has been involved in public finance in the Northwest and Alaska for nearly 24 years.His depth of experience comes from a unique combination of investment banking, public service, and public accounting.He began working with Washington school districts after initially joining SNW in 1986, and he has been responsible for developing and implementing financing plans for some of the largest school bond issuers in Washington.As an investment banker, Mr. Prussing has been instrumental in the completion of over $1 billion in project financings in Washington, Oregon and Alaska.

Mr. Prussing served as the Alaska State Comptroller.There he was responsible for the financial reporting, safekeeping and management of nearly $10 billion in investments, including those of the Teachers and Public Employees Retirement Systems, and was responsible for a $22 million annual operating budget.Prior to that, Mr. Prussing worked with KPMG in both Alaska and Oregon, where he gained a wealth of experience auditing municipal governments and non-profit organizations.

Mr. Prussing is a cum laude graduate of the University of Utah, where he earned a B.A. in Accounting, and a Certified Public Accountant.

Mark Prussing, CPA for Seattle-Northwest Securities Corporation, gave the good news May 10 along with District business manager Mary Beth Lynn and assistant superintendent Lynn Hicks at a regular school board meeting.
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That means the deal is set in stone: lower interest rates than projected are locked in, and Battle Ground taxpayers are set to reap the rewards, Prussing said.

Prussing was also able to refinance some of the District's existing debt the same day-- about $7.1 million--at a lower rate than District taxpayers are currently paying.

"We were able to accomplish all our goals and more," Prussing said.
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Prussing sold the bonds for even better rates than those.
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Battle Ground had originally aimed to sell their bonds through Seattle Northwest May 4, but the bond market spiked that morning due to a U.S. Treasury Department announcement, Prussing said.

The securities company decided to wait a few days, hoping the market would level off.Fortunately, the gamble paid off, Prussing said, and the bonds were able to be sold at a good rate.

During a three-hour meeting of the committee charged with developing VSD's new Campus Master Plan (CMP), members met with Carter Bagg from the Office of Superintendent of Public Instruction and Mark Prussing from Seattle Northwest Securities Corp.
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Prussing gave the committee funding options for the CMP."We underwrite a "lot" (italics) of school bonds; it's what we do," said Prussing of his company. He recommended a bond, and Superintendent Mimi Walker said the group has been planning to introduce a bond to voters to pay for the CMP, instead of renewing their Maintenance and Operation Levy for 2006. Prussing's firm is planning to help VSD through the entire process of planning the bond measure, communicating with the public, and filing the motion so it will be put to the voters on the fall ballot.Prussing figures Vashon's current legal debt capacity at about $79 million; he says that some school districts have too little debt capacity for their projects, but noted that clearly is not an issue on Vashon.Repayment of the bond can be managed in several ways, and Prussing showed the committee examples of methods for repaying a $20 million, $40 million and $60 million bond.
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Prussing provided an impact analysis for a hypothetical voter based on a $20 million bond and a property value of $300,000.He estimated that the gross property tax increase for that person would be $77 per year, and adjusted it to a net increase of about $57 after allowing for income tax deductions.So the person who owns property worth $300,000 currently pays $312 in tax to fund the school's levy.If a $20 million bond passes, that person will pay $389 in tax to fund the school's bond. Prussing estimated that after income tax deductions are calculated, that person will actually see a net increase of about $57, instead of $77.The committee pointed out that the average home on Vashon costs far more than $300,000, and Prussing agreed to provide future impact analyses that used more realistic numbers.Prussing provided a table that showed a $20 million bond would cost voters about $1.40 in taxes per $1,000 in assessed property value; a $40 million bond would up the number to about $1.70 per $1,000; and a $60 million bond would put the number at about $2.10 per $1,000.

Mark Prussing - Chief Financial Officer
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Mark Prussing - Chief Financial Officer

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Mark Prussing - Chief Financial Officer

ü Heard from Mark Prussing, CPA, Seattle NW Securities discuss the major differences between capital projects levies and bonds, projected bond tax rates and total tax rate comparisons.

Alan Dashen, financial advisor for A. Dashen & Associates and Mark Prussing, underwriter for Seattle Northwest Securities Corporation, made the presentation.

SNW Vice President Mark Prussing and WASA President Steve Chestnut (superintendent, Moses Lake School District) made the announcement of the award yesterday at the WASA Awards Luncheon in Spokane.

Mark W. Prussing, Vice Presidentmprussing@snwsc.com1420 Fifth Ave, Suite 4300Seattle WA 98101-2342206-689-2780 | www.seattlenorthwest.com