December 5, 2011 Stephen Crockett, Chair Maine Municipal Bond Bank Authority Neal Meltzer, Chair Maine Health

& Higher Educational Facilities

Dear Steve and Neal: It appears that the Boards of the Bank and Authority are internally divided and essentially at an impasse on the question of retaining my services as Executive Director. While I must admit that after twenty three years of service with an unblemished record of nationally recognized, successful bond sales and program operation that I do not understand how we have reached this unfortunate pass, one of the reasons for our success over the years has been the ability of both organizations to deal successfully with the facts before us and not wishing for things that might or even should be. Given these circumstances, I believe it would be in the best interests of both organizations if we set in place a transition program for my departure as Executive Director. I would suggest that the two Boards agree that I would leave my position as Executive Director effective July 1, 2012 to allow a reasonable time for a professional transition to a new Executive Director. In the interim the Boards, either jointly or separately, would be able to conduct a national search for my replacement as Executive Director. The July 1 termination date would as well coincide with our fiscal year end and allow for the easier completion of the termination audit that normally would be required as part of the departure of an Executive Director. If the establishment of a firm timetable is acceptable to both organizations I would strongly encourage you to move quickly to establish the national search for my replacement so that we can assure the smooth transition that the rating agencies and bond market will expect from organizations like the Authority and the Bank as well as allowing time for an orderly transfer of a complex administrative process including daily multiple signature and authorization requirements that must be transferred to a new Executive Director. I will be at your service to provide any assistance that might be requested in your search for my replacement as well as to implement the multiple actions necessary to allow the new Executive Director to accomplish the various process details with our bond Trustees and other loan and professional service interactions. I would appreciate it if you could let me know at your earliest convenience whether or not the establishment of a transition as I have outlined is acceptable to the Boards. Sincerely yours

Robert O. Lenna Executive Director