FOR IMMEDIATE RELEASE July 10, 2000 CONTACT: Chris Friesleben, (515) 271-2833 DRAKE LAW PROFESSOR TO PLAY KEY ROLE IN DISTRICT OF COLUMBIA'S REBOUND FROM BANKRUPTCY A Drake University law professor has been named general counsel to the chief financial officer of the District of Columbia and will play a key role in the continuing efforts to restore the financial health of the nation's capital. Hunter Clark will take a leave of absence from his teaching responsibilities to be the chief legal officer and right-hand adviser to Natwar Gandhi, who took over as CFO in May and whose job it now is to return the district's budget to solvency and respectability. Clark (known as Rod to colleagues and friends) said he was honored by his appointment. "It is a position of power and responsibility, a chance to make life better for people who live and work and play in the district, and to set an example nationwide for how cities should be run." The District of Columbia's troubles began during Marion Barry's era as mayor when spiraling deficits and management abuses forced the district into bankruptcy in 1995. Congress reacted by stripping Barry and the locally elected home rule government of their powers and placing the district in the hands of a federal financial control board. Since then, the district has elected a new mayor, Anthony E. Williams. Under his guidance, the district has made necessary budget and personnel cuts and instituted a number of other changes in order to stand on its own once again. Clark will work with Congress and the CFO to draft what will become the district's new home rule act when self-governance is restored. He also will represent the district on Wall Street in discussions with major investment banks on how to improve the city's bond rating. One of the requirements Congress put on the district before it can return to home rule status is to deliver four balanced budgets in a row. Clark, who was in Washington to talk to Gandhi several weeks ago, said the district is close to accomplishing that. "This is a time of great excitement and hopefulness and prosperity in the nation's capital. I could feel it in the air, hear it in my conversations with people and see it in the building boom that is reshaping the city. I appreciate the opportunity to be a part of it." For Clark, it is a homecoming of sorts. He was born and raised in Washington and returned there several years after receiving his undergraduate and law degrees from Harvard University. From 1986 to 1991, Clark served as legal counsel to the city's locally elected legislature, the Council of the District of Columbia. Among other responsibilities, he drafted and reviewed legislation to determine its constitutionality and legality, and advised council members on matters concerning budget, taxation and revenue matters, general obligation bond acts, and land use and reapportionment. Clark came to Drake Law School in 1993 and was tenured in 1999. Law School Dean C. Peter Goplerud III said Clark's appointment reflects the quality of his substantial talents. "This is a high-profile and prestigious appointment and one that Rod is most deserving of. It is an outstanding opportunity for him to make an enormous impact in the District of Columbia's future and to bring a wealth of experience back to the classroom when he returns." Clark will leave for Washington on July 13 and will return to his duties at the Law School in January 2002. He is available for interviews Monday through Wednesday, July 10-12, at 271- 2063.