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Home My WebLink About04 OCTOBER 1996 �T� � � � Minutes � . . Finance Committee CONVENE On October 8, 1996, the Investment & Finance Committee was called to order at 9:05 a.m. by Mr. Gibson. ROLL CALL Walter Snyder, Dick Kelly, Carlos Ortega, Murray Magloff, Bill Veazie, Paul Gibson, Jean Ruth, Rachelle Klassen Absent: Dave Erwin, excused; Ray Diaz APPROVAL OF MINUTES Upon motion by Mr. Magloff, seconded by Mr. Snyder, the Minutes of the September 11, 1996 meeting were APPROVED as submitted. Motion carried unanimously. ORAL COMMUNICATIONS None OLD BUSINESS A. �us of Public and Private Partnerships Background Checks for Section 4 Mr. Ortega stated that he did not yet have a report for the Committee at this time. B. Update on the Issuance of New Bonds for Redevelooment Housing Fund Desert Rose Mr. Ortega introduced Mr. Dennis Coleman, Redevelopment Analyst, w,ho provided committee members with a handout and an oral report. Bonds closed Thursday morning, October 2, 1996 in San Francisco. Series A (Refunding Issue) totaled $10,880,000. Series B (Working Capital) totaled $8,170,000. Mr. Coleman did disclose to the Committee that the original bond issue had provision requiring permission from the bank in order to redeem them. No defeasance clause was set up in the original issue. Staff negotiated with the bank so that we could pay the letter of credit (L/C), approximately $211,000 on a pro-rated basis and only pay a partial. The bank wanted about $40,000 in legal fees they had incurred when we went into the hold assumption agreement from Pacific Center Bario Housing Corporation. We negotiated Minutes Finance Committee paying one-quarter of the L/C and $40,000 legal fees. Net effect of this is Agency ahead $108,000 due to total savings of$158,000. Approximate present value savings due to these bond issues, between 6 - 8%. Actual total debt service savings $1,139,638. Recap of Investments of Bond Proceeds Series A...Since in the short-term will be refunding the old bonds, proceeds placed in the Sweep Account as earnings there almost equivalent to market. Ms. Ruth stated that the Series A reserve fund was invested in a one-year Treasury Bill, and will continue investing to meet the needs of the reserve fund. Series B...Reserve fund invested out five years due to its structure of interest only in this period. The capital needed to maintain the project has been laddered out in a manner to meet the requirements for the Desert Rose subsidies and housing subsidies, trying to match the maturities with those payments. Went out as far as possible with the $7M, going to mid-April 1997. Mr. Ortega stated that this issue was different than the norm for CPD/RDA, requiring various legal and IRS opinions, due to the working capital issue (IRS prefers issues for tangible assets, [i.e. capital improvements]). Mr. Snyder commented that the new marketing program seems to be very effective, as he is signing escrow papers nearly every day. There are approximately 50 units closed or in process; now deeply into Phase II of the project. C. Status of Wymer/ITM Case Due to Dave Erwin's absence today, report deferred until November 12, 1996 regular meeting. D. Palm Desert Water & Services District Audit Update Since dissolution of the District on 7/1/96 by LAFCO, our 2 Minutes Finance Committee auditors have been conducting an audit of the financial records. At this point, our auditors have informed us that they will only be able to provide a Qualified Opinion on the financial records due to non-standardized recording of all the assets and liabilities for the past five years. Staff determined cost involved in auditors doing a full evaluation and proper record of all, without the help of any former managerial staff, would be prohibitive. Cases in point: 1) Purchase agreement for land in the amount of $55,000 without proper documentation or recordation of its acquisition in June 1995. Now landowner demanding payment for the parcel from City of Palm Desert, and there is not sufficient cash from the PDW&SD funds to make payment. Will be up to CVWD. Council closed session has been requested on this matter. 2) Interest payment on note due 11/1/96; however, bank wants the payment by 10/15/96. To date only $20,000 cash available, payment due is $25,000. Mr. Gibson informed CVWD and inquired whether they would be willing to put up the $5,000 balance. Tom Levy indicated that until CVWD takes over, they were not interested. Council closed session has been requested on this matter. Mr. Snyder asked that Mr. Gibson bring any additional information he could acquire on either of these items to the Closed Session. NEW BUSINESS A. City and Redevelopment Agency Investment Schedule Ms. Ruth stated that she had adjusted the format of the statements slightly, to make the charts easier to interpret-- the scale of the graph was increased. She noted that both portfolios reflect total dollar amounts decreased somewhat, due to expenditures being greater than revenues at this time. However, gains are on the increase. 3 Minutes Finance Committee Mr. Gibson noted to the committee that since the last meeting, Mr. Coleman has provided Ms. Ruth with a recap of expenditures' due dates for Desert Willow, allowing her to invest and plan the cash flow. B. Review Short Term Investments Maturing in October 1 96 Ms. Ruth reported that there is only one maturity, a Federal Home Loan Bank Discount Note (formerly a CD), and it matures on 10/21/96. Its yield to maturity is 5.467% She reported that maturities realized in September were used to provide necessary cash flow for obligations; they were not reinvested. The Committee recommended following past practice, investing in the vehicle which would provide optimum return. C. State of California Local Agency Investment Fund Monthly Report Mr. Gibson brought to the attention of the Committee that the RDA-LAIF $4M shown as bond proceeds is being shifted over to the regular LAIF account, making one, RDA-LAIF account. Receive and file report. D. Monthly Financial Report for City Council Mr. Gibson stated that since the September books have not yet been closed due to the on-going audit, the Monthly Financial Report is not available at this time. He will provide it to City Council as soon as it is processed. E. Parkview Professional O�ce Buildings - 7/31/96 and $131/96 Financial Reuorts Fteceive and file report; submit to City Council for their review and information. 4 Minutes Finance Committee REPORTS AND REMARKS A. Any Committee Members' Reports and Remarks Broker/Dealer Questionnaire -Jean Ruth Ms. Ruth wanted committee input for preparation of the new Broker/Dealer Questionnaire which she would like to mail on or about 11/1/96. - Does the Committee want the current approved dealers: 1) Smith Barney; 2) Dean Witter; and, 3) First Interstate/Wells Fargo to totally reapply, or can we continue to work with them based upon past performance and a verbal request for disclosure of any material changes since last questionnaire was submitted (since SEC forms remain unchanged in this short time period and current financial statements are already required to be submitted for the duration of the relationship). - Providing questionnaires to new dealers who request-- any restrictions or qualifications to place on them? Previously staff had preferred to work with those dealers with offices in the Coachella Valley. - Sending questionnaires to dealers who were sent a questionnaire and responded but did not qualify last time; those who were sent a questionnaire but did not respond; and, now have new brokers requesting the questionnaire-- should they all be considered the same? Mr. VeaziQ questioned the reasoning behind informally requiring a broker/dealer to maintain an office in the Coachella Valley. Staff responded that it was an informal policy of the City to benefit the overall economy of the Coachella Valley by dealing with resident dealers. However, as the City grows and its needs change, staff is prepared to recommend those institutional brokers who can best meet our individual needs, preferably by first looking to Coachella Valley dealers, then expanding the range of solicitation to broker/dealers within the State of California, providing they abide by the California laws and regulations governing such relationships. Committee unanimously approved the following: 5 Minutes Finance Committee 1) For current. a�proved brokers/dealers. Smith Barne�, Dean Witter and First Interstate/Wells Fargo reRuesting they provide full disclosure of any material changes in their position since date of last approval. 2) For new broker/dealers who request the opportunity to participate in the approval process, by way of the committee-approved Ruestionnaire, all are encouraged to apply. Municipa/ Treasurers Association of the United States and Canada Press Release As noted at the 9/11/96 meeting, City of Palm Desert/Palm Desert Redevelopment Agency's Investment Policy received the Certification of Excellence Award, which was recognized at the September 12, 1996 City Council Meeting. Since that time, a formal press release was received noting the prestige of the accomplishment-- only 38 have received this honor in the State of California, and a total of only 150 within the U.S. and Canada have ever received. Committee was e.�tremely pleased to learn that it was an even larger accomplishment than they originally thought and recommended that the information be provided to Sheila R. Gilligan, Director of Community Affairs/City Clerk,for public release. Mr. Gibson reported to committee the-- Current Audits being performed at or on beha/f of City of Palm Desert: 1) Palm Desert Water& Services District; 2) City/RDA's Annual Year-End Audit; 3) Municipal Resource Consultants-- agency City purchased GRIP Software for business license tracking is conducting audits of: A) Business License Taxes; B) Documentary Transfer Tax from Riverside County; C) Franchise Fees; and D) Transient Occupancy Tax. 6 Minutes Finance Committee Desert Willow(a.k.a. Section 4) Mr. Magloff inquired about the disposition and present status of the Desert Willow project. Staff offered and recommended that for the citizen members of the Committee, Mr. Magloff and Mr. Veazie, who do not deal with the information on a day-to-day basis as does staff, that a meeting could be arranged, at citizen members' convenience, to meet with the management staff to explain the process and current status. McCallum Theater Mr. Veazie commented that he heard reports of"record ticket sales" for the new theater season. He inquired as to whether the City was keeping track of this in light of the loan to the theater and any past or future audit of its records. Mr. Gibson's reply to Mr. Veazie's inquiry was that the City had been asked for a "contribution" of$350,000 in order for the McCallum Theatre to stay open during the summer months. As a concession to the City's contribution, a more friendly-priced product would be introduced during the summer. It was decided that this was not to be a loan and, therefore, no reimbursement would be made to the City. In response to this contribution request to the McCallum Theater, the City of Palm Desert suggested that the Councils of the Cities of Indian Wells and Rancho Mirage be consulted to participate in this "gift" and, based on the size of the cities, it was arbitrarily determined that the City of Indian Wells should participate in the amount of$50,000, with the City of Rancho Mirage's share to be $100,000. Indian Wells City Council considered this request and agreed to participate in the amount of$50,000; however, the City of Rancho Mirage did not agendize this request and, therefore, did not participate. Consequently, the City of Palm Desert gave the McCallum $300,000. An audit was n�t performed prior to this contribution. 7 Minutes Finance Committee The contingency that a councilmember be on the Board was not part of this contribution, and Councilmember Benson had been on the Board since January as an exchange program with the Promotion Committee where one member of the City Council went to that Board as a liaison, and a member of the McCallum comes to the Promotion Committee meetings representing the McCallum Theatre. Mr. Gibson stated that any future actiqn on this issue by Council will be reported to this Committee. B. Items to be Placed on Next Agenda Wymer/ITM Report by Mr. Erwin NEXT MEETING DATE The next Investment & Finance Committee will be held Tuesday, November 12, 1996 at 9:00 a.m. ADJOURNMENT The Investment & Finance Committee adjourned at 10:10 a.m. on a motion by Mr. Gibson and seconded by Mr. Veazie. Respectfully submitted, RACHELLE D. KLASSEN, RECORDING SECRETARY 8 CONVENE On October 8, 1996, the Investment & Finance Committee was called to order at 9:05 a.m. by Mr. Gibson. RO�L CALL Walter Snyder, Dick Kelly, Carlos Ortega, Murray Magloff, Bill Veazie, Paul Gibson, Jean Ruth, Rachelle Klassen Absent: Dave Erwin, excused; Ray Diaz APPROVAL OF MINUTES Upon motion by Mr. Magloff, seconded by Mr. Snyder, the Minutes of the September ll, 1996 meeting were APPROVED as submitted. Motion carried unanimously. ORAL COMMUNICATIONS None OLD BUSINESS A. Status of Public and Private Partnerships Background Checks for Section 4 Mr. Ortega stated that he did not yet have a report for the Committee at this time. B. Update on the Issuance of New Bonds for Redevelopment Housing Fund Desert Rose Mr. Ortega introduced Mr. Dennis Coleman, Redevelopment Analyst, who provided committee members with a handout and an oral report. Bonds closed Thursday morning, October 2, 1996 in San Francisco. Series A (Refunding Issue) totaled $10,880,000. Series B (Working Capital) totaled $8,170,000. Mr. Coleman did disclose to the Committee that the original bond issue had provision requiring permission from the bank in order to redeem them. No defeasance clause was set up in the original issue. Staff negotiated with the bank so that we could pay the letter of credit (L/C), approximately $211,000 on a pro-rated basis and only pay a partial. The bank wanted about $40,000 in legal fees they had incurred when we went into the hold assumption agreement from Pacific Center Bario Housing Corporation. We negotiated paying one-quarter of the L/C and $40,000 legal fees. Net effect of this is Agency ahead $108,000 due to total savings of$158,000. Approximate present value savings due to these bond issues, between 6 - 8%. Actual total debt service savings $1,139,638. Recap of Investments of Bond Proceeds Series A...Since in the short-term will be refunding the old bonds, proceeds placed in the Sweep Account as earnings there almost equivalent to market. Ms. Ruth stated that the Series A reserve fund was invested in a one-year Treasury Bill, and will continue investing to meet the needs of the reserve fund. Series B...Reserve fund invested out five years due to its structure of interest only in this period. The capital needed to maintain the project has been laddered out in a manner to meet the requirements for the Desert Rose subsidies and housing subsidies, trying to match the maturities with those payments. Went out as far as possible with the $7M, going to mid-April 1997. Mr. Ortega stated that this issue was different than the norm for CPD/RDA, requiring various legal and IRS opinions, due to the working capital issue (IRS prefers issues for tangible assets, [i.e. capital improvements]). Mr. Snyder commented that the new marketing program seems to be very effective, as he is signing escrow papers nearly every day. There are approximately 50 units closed or in process; now deeply into Phase II of the project. C. Status of W�merIITM Case Due to Dave Erwin's absence today, report deferred until November 12, 1996 regular meeting. D. Palm Desert Water & Services District Audit Update Since dissolution of the District on 7/1/96 by LAFCO, our 2 auditors have been conducting an audit of the financial records. At this point, our auditors have informed us that they will only be able to provide a Qualified Opinion on the financial records due to non-standardized recording of all the assets and liabilities for the past five years. Staff determined cost involved in auditors doing a full evaluation and proper record of all, without the help of any former managerial staff, would be prohibitive. Cases in point: 1) Purchase agreement for land in the amount of $55,000 without proper documentation or recordation of its acquisition in June 1995. Now landowner demanding payment for the parcel from City of Palm Desert, and there is not sufficient cash from the PDW&SD funds to make payment. Will be up to CVWD. Council closed session has been requested on this matter. 2) Interest payment on note due 11/1/96; however, bank wants the payment by 10/15/96. To date only $20,000 cash available, payment due is $25,000. Mr. Gibson informed CVWD and inquired whether they would be willing to put up the $5,000 balance. Tom Levy indicated that until CVWD takes over, they were not interested. Council closed session has been requested on this matter. Mr. Snyder asked that Mr. Gibson bring any additional information he could acquire on either of these items to the Closed Session. NEW BUSINESS A. City and Redevelopment Agency Investment Schedule Ms. Ruth stated that she had adjusted the format of the statements slightly, to make the charts easier to interpret-- the scale of the graph was increased. She noted that both portfolios reflect total dollar amounts decreased somewhat, due to expenditures being greater than revenues at this time. However, gains are on the increase. 3 Mr. Gibson noted to the committee that since the last meeting, Mr. Coleman has provided Ms. Ruth with a recap of expenditures' due dates for Desert Willow, allowing her to invest and plan the cash flow. B. Review Short Term Investments Maturing in October 1996 Ms. Ruth reported that there is only one maturity, a Federal Home Loan Bank Discount Note (formerly a CD), and it matures on 10/21/96. Its yield to maturity is 5.467% She reported that maturities realized in September were used to provide necessary cash flow for obligations; they were not reinvested. 7"he Committee recommended following past practice, investing in the vehicle which would provide optimum return. C. State of California Local Aaency Investment Fund Monthly Report Mr. Gibson brought to the attention of the Committee that the RDA-LAIF $4M shown as bond proceeds is being shifted overto the regular LAIF account, making one, RDA-LAIF account. Receive and file report. D. Monthly Financial Report for Citv Council Mr. Gibson stated that since the September books have not yet been closed due to the on-going audit, the Monthly Financial Report is not available at this time. He will provide it to City Council as soon as it is processed. E. Parkview Professional Office Buildings - 7/31/96 and 8/31/96 Financial,R�orts Receive and file report; submit to City Council for their review and information. 4 REPORTS AND REMARKS A. Any Committee Members' Reports and Remarks BrokedDealer Questionnaire -Jean Ruth Ms. Ruth wanted committee input for preparation of the new Broker/Dealer Questionnaire which she would like to mail on or about 11/1/96. - Does the Committee want the current approved dealers: 1) Smith Barney; 2) Dean Witter; and, 3) First Interstate/Wells Fargo to totally reapply, or can we continue to work with them based upon past performance and a verbal request for disclosure of any material changes since last questionnaire was submitted (since SEC forms remain unchanged in this short time period and current financial statements are already required to be submitted for the duration of the relationship). - Providing questionnaires to new dealers who request-- any restrictions or qualifications to place on them? Previously staff had preferred to work with those dealers with o�ces in the Coachella Valley. - Sending questionnaires to dealers who were sent a questionnaire and responded but did not qualify last time; those who were sent a questionnaire but did not respond; and, now have new brokers requesting the questionnaire-- should they all be considered the same? Mr. Veazie questioned the reasoning behind informally requiring a brokeddealer to maintain an office in the Coachella Valley. Staff responded that it was an informal policy of the City to benefit the overall economy of the Coachella Valley by dealing with resident dealers. However, as the City grows and its needs change, staff is prepared to recommend those institutional brokers who can best meet our individual needs, preferably by first looking to Coachella Valley dealers, then expanding the range of solicitation to broker/dealers within the State of California, providing they abide by the California laws and regulations governing such relationships. Committee unanimously approved the following: 5 1) For current a��roved brokers/dealers. Smith Barne�,, Dean Witter and First Interstate/Wells Fargo, requesting they provide full disclosure of any material changes in their position since date of last approval. 2) For new broker/dealers who reRuest the opportunity to participate in the approval process, by way of the committee-approved questionnaire, all are encouraged co aPPy. Municipal Treasurers Association of the United States and Canada Press Release As noted at the 9/11/96 meeting, City of Palm Desert/Palm Desert Redevelopment Agency's Investment Policy received the Certi�cation of Excellence Award, which was recognized at the September 12, 1996 City Council Meeting. Since that time, a formal press release was received noting the prestige of the accomplishment-- only 38 have received this honor in the State of California, and a total of only 150 within the U.S. and Canada have ever received. Committee was extremely pleased to learn that it was an even larger accomplishment than they originally thought and recommended that the information be provided to Sheila R. Gilligan, Director of Community Affairs/City Clerk,for public release. Mr. Gibson reported to committee the-- Current Audits being performed at or on behalf of City of Pa/m Desert: 1) Palm Desert Water& Services District; 2) City/RDA's Annual Year-End Audit; 3) Municipal Resource Consultants-- agency City purchased GRIP Software for business license tracking is conducting audits of: A) Business License Taxes; B) Documentary Transfer Tax from Riverside County; C) Franchise Fees; and D) Transient Occupancy Tax. 6 Desert Willow (a.k.a. Section 4) Mr. Magloff inquired about the disposition and present status of the Desert Willow project. Staff offered and recommended that for the citizen members of the Committee, Mr. Magloff and Mr. Veazie, who do not deal with the information on a day-to-day basis as does staff, that a meeting could be arranged, at citizen members' convenience, to meet with the management staff to explain the process and current status. McCallum Theater Mr. Veazie commented that he heard reports of "record ticket sales" for the new theater season. He inquired as to whether the City was keeping track of this in light of the loan to the theater and any past or future audit of its records. Mr. Gibson's reply to Mr. Veazie's inquiry was that the City had been asked for a "contribution" of$350,000 in order for the McCallum Theatre to stay open during the summer months. As a concession to the City's contribution, a more friendly-priced product would be introduced during the summer. It was decided that this was not to be a loan and, therefore, no reimbursement would be made to the City. In response to this contribution request to the McCallum Theater, the City of Palm Desert suggested that the Councils of the Cities of Indian Wells and Rancho Mirage be consulted to participate in this "gift" and, based on the size of the cities, it was arbitrarily determined that the City of Indian Wells should participate in the amount of $50,000, with the City of Rancho Mirage's share to be $100,000. Indian Wells City Council considered this request and agreed to participate in the amount of$50,000; however, the City of Rancho Mirage did not agendize this request and, therefore, did not participate. Consequently, the City of Palm Desert gave the McCallum $300,000. An audit was not performed prior to this contribution. �c C�u-��R.r�� he contingency that e�ee `�s 7 -Q .C.�a,..J�`, Q-�'�` �•� � ._� nJ, �'. be on the Board was not part of this contnbution1 �eid � spe had been on the Board since January as an exchange program with the Promotion Committee where one member of the City Council went to that Board as a liaison, and a member of the McCallum comes to the Promotion Committee meetings representing the McCallum Theatre. Mr. Gibson stated that any future action on this issue by Council will be reported to this Committee. B. Items to be Placed on Next Agenda Wymer/ITM Report by Mr. Erwin NEXT MEETING DATE The next Investment & Finance Committee will be held Tuesday, November 12, 1996 at 9:00 a.m. ADJOURNMENT The Investment & Finance Committee adjourned at 10:10 a.m. on a motion by Mr. Gibson and seconded by Mr. Veazie. Respectfully submitted, RACHELLE D. KLASSEN, RECORDING SECRETARY 8 INTEROFFICE MEMORANDUM City of Palm Desert TO: Paul S. Gibsoq Director of Finance/City Treasurer FROM: Shcila R. Gilligan, Director of Community Affairs/City Clerk DATE: January 28, 1997 SUBJECT: MinurPs of the Investment a_�d Fin�nce Committee MeetinQ of October 8_ 1225� At its regulaz meeting ofDecember 12, 1996, the City Council approved the subject Minutes with corrections as noted by Councilmembers Benson and Spiegel. A copy of the December 12th City Council MInutes is attached for your information. Once the Investment and Finance Committee Minutes have been conected, please provide a copy to me so that I can give them to the City Council. If you have any questions, please let me know. i� 7 � / � _ � �,�, SHEII.A R. GILLIGAN DIItECTOR OF COMMiJNIT AIRS/CITY CLERK SRG:mpg NmvUz'ES REGULAR PALM DESERT CITY COUNCIL MEETING DECEMBER 12, 1996 t i i i i i i i • i i i i t i • i 7� ! • 3 i 1 t f �R ! i �R ! i ! i i �t i i # � �� '� �� After further discussion, Councilman Crites moved to affum the appointment of Ms. Campbell, Mr. Fletcher, Ms. Firestone, and Ms. Hartfield for one year and that a mazimum effort be put forth during that year to let everyone lrnow of the opportunity to serve on the Board. Motion died for lack of a second. Councilman Snyder expressed concem with the Council directing the El Paseo Board on how to run its organization. Councilmember Benson asked whether the bylaws would have to be amended in order for the Board to abide by the Council's action. Mr. Fswin responded that this is an organization formed by the City Council and that the Council had the discretion to make the appointments for a specific time. The bylaws would not have to be amended unless Council plans to do this every Ume an appointment is made. After additional discussion, Mrs. Gilligan suggested that the Council conrinue this matter to the meeting of January 9, 1997. She stated that she would work with Mrs. Campbell during that 6me and would come back with more information relative to vacancies on the Board. Councilman Snyder moved to continue this matter to the meeting of January 9, 199'7, and direct staff to come back with additional information. Mofion was seconded by Spiegel and carried by unanimous vote. H. MINUTES of the Investment and Finance Committee Meeting of October 8, 1996. Councilman Spiegel stated that a conection nced to be made on Page 7 of the Minutes relative to the McCallum Theatre. The Minutes as presented indicated "Mr. Veazie commented that he heard reports of 'record ticket sales' for the new theater season. He inquired as to whether the City was keeping track of this in light of the loan to the theater and any past or future audit of its records. Mr. Gibson replied that an audit was performed prior to the loan of the $350,000 and since that time the City of Indian Wells has written a check for$50,000 to the City of Palm Desert to mitigate the loan's impact on our City. Staff also stated that a contingency of our loan to them was that Councilwoman Jean Benson be named to the Board of Directors of the McCallum. Mr. Gibson stated that any future action on this issue by Council will be reported to this Committee." He said this was wrong and as he remembered what happened, the City was asked for a wntribution of$350,000 in order for the McCallum Theatre to stay open during the summer months. As a concession for that, they were going to bring in some more friendly priced products during the summer, and this was done. The City of Palm Desert also requested that the Councils of the Cifies of Indian Wells and Rancho Mirage be consulted to participate in this gift and, based on the size of the cities, it was azbitrarily determined that the City of Indian Wells should participate in the amount of$50,000, with the City of Rancho Mirage's share to be $100,000. Indian Wells City Council considered this request and agreed to participate in the amount of$50,000; however, the City of Rancho Mirage did not agendize 12 Desert Willow(a.k.a. Section 4) Mr. Magloff inquired about the disposition and present status of the Desert Willow project. Staff offered and recommended that for the citizen members of the Committee, Mr. Magloff and Mr. Veazie, who do not deal with the information on a day-to-day basis as does staff, that a meeting could be arranged, at citizen members' convenience, to meet with the management staff to explain the process and current status. McCallum Theater Mr. Veazie commented that he heard reports of"record ticket sales" for the new theater season. He inquired as to whether the City was keeping track of this in light of the loan to the theater and any past or future audit of its records. Mr. Gibson replied that an audit was pertormed prior to the loan of$350,000 and since that time the City of Indian Wells has written a check for $50,000 to the City of Palm Desert to mitigate the loan's impact on our City. Staff also stated that a contingency of our loan to them was that Councilwoman Jean Benson be named to the Board of Directors for the McCallum. Mr. Gibson stated that any future action on this issue by Council will be reported to this Committee. B. Items to be Piaced on Next Agenda Wymer/ITM Report by Mr. Erwin NEXT MEETING DATE The next Investment & Finance Committee will be held Tuesday, November 12, 1996 at 9:00 a.m. ADJOURNMENT The Investment & Finance Committee adjourned at 10:10 a.m. on a motion by Mr. Gibson and seconded by Mr. Veazie. Respectfully submitted, RACHELLE D. KLASSEN, RECORDING SECRETARY 7 �� City of P��m Desert yY •��v.t .. . � � . . Council Agenda Request Meeting of DECEPIDER 12� 1996 r L To be considered under: Conunt Calendar X Resolutions Ordinanaes New Businese Old Business_ Informational Items_ Public Hearings_ Ot6er �� '�' 2. > Item Title:(Please provide Uu wording tl�at should appear as the item's tifle on the agenda), . � RECEIVE AND FILE: Minutes� of the October 8 1996� Investment & Einance Committee meeting. 3. FinanCial: (Complete if applicable) (a) AcoounUProject# (b) AmounCRequested (c) In the Current Budget? (c) Appmpriation Requirodl V Approved by Director of Finance: 4. Sublilltt0d by: PAUL S. GIBSON, DIRECTOR OF FINANCE/CITY TREASURER 5. Approvals: Depaetment F�ead City Manager �--T--� . � � M�nut e s Finance Committee CONVENE On October 8, 1996, the Investment & Finance Committee was called to order at 9:05 a.m. by Mr. Gibson. ROLL CALL Walter Snyder, Dick Ke�ly, Carlos Ortega, Murray Magloff, Bill Veazie, Paul Gibson, Jean Ruth, Rachelle Klassen Absent: Dave Erwin, excused; Ray Diaz APPROVAL OF MINUTES Upon moti�n by Mr. Magloff, seconded by Mr. Snyder, the Minutes of the September I1, 1996 meeting were APPROVED as submitted. Motion carried unanimously. ORAL COMMUNICATIONS None OLD BUSINESS A. Status of Public and Private Partnerships Backg�und Checks for Section 4 Mr. Ortega stated that he did not yet have a report for the Committee at this time. B. Undate on the Issuance of New Bonds for Redevelooment Housing Fund Desert Rose Mr. Ortega introduced Mr. Dennis Coleman, Redevelopment Analyst, who provided committee members with a handout and an oral report. Bonds closed Thursday morning, October 2, 1996 in San Francisco. Series A (Refunding Issue) totaled $10,880,000. Series B (Worlcing Capital) totaled $8,170,000. Mr. Coleman did disclose to the Committee that the original bond issue h�d provision requiring permission from the bank in order to redeem them. No defeasance clause was set up in the original issue. Staff negotiated with the bank so that we could pay the letter of credit (L/C), approximately $211,000 on a pro-rated basis and only'pay a partial. The bank wanted about $40,000 in legal fees they had incurred when we went into the hold assumption agreement from Pacific Center Bario Housing Corporation. We negotiated Minutes Finance Committee paying one-quarter of the UC and $40,000 legal fees. Net effect of this is Agency ahead $108,000 due to total savings � of$158,000. Approximate present value savings due to these bond issues, between 6 - 8%. Actual total debt service savings $1,139,638. Recao of Investments of Bond Proceeds Series A...Since in the short-term will be refunding the old bonds, proceeds placed in the Sweep Account as earnings there almost equivalent to market. Ms. Ruth stated that the Series A reserve fund was invested in a one-year Treasury Bili, and will continue investing to meet the needs of the reserve fund. Series B...Reserve fund invested out five years due to its structure of interest only in this period. The capital needed to maintain the project has been laddered out in a manner to meet the requirements for the Desert Rose subsidies and housing subsidies, trying to match the maturities with those payments. Went out as far as possible with the $7M, going to mid-April 1997. Mr. Ortega stated that this issue was different than the norm for CPD/RDA, requiring various legal and IRS opinions, due to the working capital issue (IRS prefers issues for tangible assets, (i.e. capital improvements]). Mr. Snyder commented that the new marketing program seems to be very effective, as he is signing escrow papers nearly every day. There are approximately 50 units closed or in process; now deeply into Phase II of the project. C. Status of Wymer/ITM Case Due to Dave Erwin's absence today, report deferred until November 12, 1996 regular meeting. D. Palm Desert Water & Services District Audit Uodate .� Since dissolution of the District on 7/1/96 by LAFCO, our 2 Minui,�s Finance Commlttee auditors have been conducting an audit of the financial records. At this point, our auditors have informed us that they will only be able to provide a Qualified Opinion on the financial records due to non-standardized recording of all the assets and liabilities for the past five years. Staff determined cost involved in auditors doing a full evaluation and proper record of all, without the help of any former menagerial staff, would be prohibitive. Cases in point: 1) Purchase agreement for land in the amount of $55,000 without proper documentation or recordation of its acquisition in June 1995. Now landowner demanding payment for the parcel from City of Palm Desert, and there is not sufficient cash from the PDW&SD funds to make payment. Will be up to CVWD. Council closed session has been requested on this matter. 2) Interest payment on note due 11/1/96; however, bank wants the payment by 10/15/96. To date only $20,000 cash available, payment due is $25,000. Mr. Gibson informed CVWD and inquired whether they would be willing to put up the $5,000 balance. Tom Levy indicated that until CVWD takes over, they were not interested. Council closed session has been requested on this matter. Mr. Snyder asked that Mr. Gibson bring any additional � information he could acquire on either of these items to the Closed Session. NEW BUSINESS A. C� and Redevelo�ment�gency Investment Schedule Ms. Ruth stated that she had adjusted the format of the statements slightly, to make the charts easier to interpret-- the scale of the graph was increased. She noted that both portfolios reflect total dollar amounts decreased somewhat, due to expenditures being greater than revenues at this time. However, gains are on the increase. 3 Minul,�s Finance Committee Mr. Gibson noted to the committee that since the last meeting, Mr. Coleman has provided Ms. Ruth with a recap of expenditures' due dates for Desert Willow, allowing her to invest and plan the cash flow. B. Review Short Term Investments Maturipg in October 1996 Ms. Ruth reported that there is only one maturity, a Federal Home Loan Bank Discount Note (formerly a CD), and it matures on 10/21/96. Its yield to maturity is 5.467% She reported that maturities realized in September were used to provide necessary cash flow for obligations; they were not reinvested. The Committee recommended following past practice, investing in the vehicle which would provide optimum return. C. St�ts of California Local Agency Investment Fund Month�y ReRort Mr. Gibson brought to the attention of the Committee that the RDA-IAIF $4M shown as bond proceeds is being shifted over to the regular LAIF account, making one, RDA-LAIF account. Receive and file report. D. Monthly Financial Reoort for Ci�y Council Mr. Gibson stated that since the September books have not yet been closed due to the on-going audit, the Monthly Financial Report is not available at this time. He will provide it to City Council as soon as it is processed. E. Parkview Professional Office Buildings -7/37/96 and 8/31/96 Financial Reo6rts Receive and file report; submit to City CQuncil for their review and information. . 4 - Minut��;s Finance Committee REPORTS AND REMARKS A. An�Committee Members' Reaorts and Remarks Broker/Dealer Questionnaire-Jean Ruth Ms. Ruth wanted committee input for preparation of the new Broker/Dealer Questionnaire which she would like to mail on or about 11/1/96. - Does the Committee want the current approved dealers: 1) Smith Barney; 2) Dean Witter; and, 3) First Interstate/Wells Fargo to totally reapply, or can we continue to work with them based upon past performance and a verbal request for disclosure of any material changes since last questionnaire was submitted (since SEC forms remain unchanged in this short time period and current financial statements are already required to be submitted for the duration of the relationship). - Providing questionnaires to new dealers who request— any restrictiuns or qualifications to place on them? Previously staff had preferred to work with those dealers with offices in the Coachella Valley. - Sending questionnaires to dealers who were sent a questionnaire and responded but did not qualify last time; those who were sent a questionnaire but did not respond; and, now have new brokers requesting the questionnaire-- should they all be considered the same? Mr. Veazie questioned the reasoning behind informaliy requiring a broker/dealer to maintain an office in the ' Coacheila Valley. Staff responded that it was an informal policy of the City to benefit the overall economy of the Coachella Valley by dealing with resident dealers. However, as the City grows and its needs change, staff is prepared to recommend those institutional brokers who can best meet our individuai needs, preferably by first looking to Goachella Valley dealers, then expanding the range of solicitation to broker/dealers within the State of California, providing they abide by the Califomia laws and regulations governing such relationships. '� Committee unanimously approved the following: 5 Minutes Finance Committee 1) For cesrrent a�proved brokers/dealers Smith Barnev. npnn w.rtv.�.,d F3rc r�ror tate-/yYell Fareo. reRuesting they provide full disclosure of any material changes in their position since date of last approval. 2) For new broker/dealers who request the opportunity to participate in the approval process, by way of the committee-approved questionnaire, all are encouraged to apply. Municipal Treasurers Association of the United States and Canada Press Release As noted at the 9/11/96 meeting, City of Palm Desert/Palm Desert Redevelopment Agency's Investment Policy received the Certi�cation of Excellence Award, which was recognized at the ueptember 12, 1996 City Council Meeting. Since that time, a formal press release was received noting the prestige of the accomplishment-- only 38 have received this honor in the State of California, and a total of oniy 150 within the U.S. and Canada have ever received. Committee was e.xtremely pleased to learn that it was an even larger accomplishment than they originally thought and recommended that the information be provided to Sheila R. Gilligan, Director of Community Affairs/City Clerk,for public release. Mr. Gibson reported to committee the-- Current Audits being performed at or on behalf of City of Palm Desert: 1) Palm Desert Water & Services District; 2) City/RDA's Annuai Year-End Audit; 3) Municipal Resource Consultants— agency City purchased GRIP Software for business license tracking is conducting audits of: A) Business License Taxes; B) Documentary Transfer Tax from Riverside County; C) Franchise Fees; and D) Transient Occupancy Tax. ` 6 � Minutes Finance Committee Desert Willow(a.k.a. Section 4) Mr. Magloff inquired about the disposition and present status of the Desert Willow project. S4aff offered and recommended that for the citizen members of the Committee, Mr. Magloff and Mr. Veazie, who do not deal with the information on a day-to-day basis as does staff, that a meeting could be arranged, at citizen members' convenience, to meet with the management staff to explain the process and current status. McCallum Theater Mr. Veazie commented that he heard reports of"record ticket saiss" for the new theater season. He inquired as to whether the City was keeping track of this in light of the loan to the theater and any past or future audit of its records. Mr. Gibson replied that an audit was performed prior to the loan of$350,000 and since that time the City of Indian Wells has written a check for $50,000 to the City of Palm Desert to mitigate the loan's impact on our City. Staff also stated that a contingency of our loan to them was that Councilwoman Jean Benson be named to the Board of Directors for the McCallum. Mr. Gibson stated that any future action on this issue by Council will be reported to this Committee. B. Items to 6e Placed on Next Agenda Wymer/ITM Report by Mr. Erwin NEXT MEETING DATE The next Investment & Finance Committee will be held Tuesday, November 12, 1996 at 9:00 a.m. ADJOURNMENT The Investment & Finance Committee adjourned at 10:10 a.m. on a motion by Mr. Gibson and seconded by Mr. Veazie. Respectfully submitted, 'c RAC LLE D. KLASSE , RECORDING SECRETARY 7 AGENDA INVESTMENT & FINANCE COMMITTEE TUESDAY, OCTOBER 8, 1996 — 9:OOA.M. NORTH WING CONFERENCE ROOM **��****�****�*****�**r.**�**�***�***�**��******��****�**��****�***��****�� L CALL TO ORDER II. ROLL CALL III. APPROVAL OF MINUTES Rec: Approve the Minutes of September 11, 1996, as Submitted. Action: IV. ORAL COMMUNICATIONS A. Any person wishing to discuss any item not otherwise on the agenda may address the Investment& Finance Committee at this point by givine his or her name and address for the record. Remarks shall be limited to a maximum of five minutes unless additional time is authorized by the Chairman. B. This is the time and place for any person who wishes to comment on non- hearing agenda items. It should be noted that at the Investment& Finance Committee's discretion,these comments may be deferred until such time on the agenda, as the item is discussed. Remazks shall be limited to a maximum of five minutes unless additional time is authorized by the Chairman. V. OLD BU5INESS A. Status of Public and Private Partnerships Backgroand Checks for S ci n4 B. Uadate on the Bonds Issue for Redevelo�ment Housing Fund Dese Rose Rec: Review Redevelopment Agency Bonds issued 10/2/96. Recap of Investments acquired for Series A and Series B bonds. C. Status of�mer/ITM Case Rec: Report by Dave Erwin on case proceedings (request from August 14, 1996 meeting). AGENDA- INVESTMENT & FINANCE COMMITTEE OCTOBER 8, 1996 �********�*****��**�***��**«*�*�*�*****��****�**��********��*��* D. Palm Desert Water& Services District Audit Update Rec: Report by Paul Gibson on audit status. VI. NEW BUSINESS A. Citv and Redevelopment Agency Investment Schedule Rec: Review and submit to the next City Council agenda. Review the presentation on the investment graphs. Review the investment activity during the month of September. Review status of capital projects and cash flow projections. Action: B. Review Short Term Investments Maturing in October 1996 Rec: Review investments in 1) collateralized deposits; 2) treasury bonds and notes; and, 3) Agencies discount notes. Action: C. State of California Local Agg�cy Investment Fund Monthly Report Rec: Informational item for the Committee to review. No action required. D. Month Financial Rgport for� Council Rec: Report and submit to City Council. Action: E. Parkview Profecsional Office Buildings - 7/31/96 & 8/31/96 Financial Reoorts Rec: Review of financial statements. Action: AGENDA- INVESTMENT & FINANCE COMMITTEE OCTOBER 8, 1996 ***��***��***��*�***��**�******��******�**��************�**��* VIL REPORTS AND REMARKS A. Re�orts and Remarks by an�Committee Member 1. Preparation of BrokedDealer Questionnaire for January 1997 Review. —Jean Ruth,Investment Manager B. Items to be �laced on the Next Agenda VIII. NEXT MEETING DATE Next regularly scheduled meeting is�`��'7c� � '��el� 1�,, '1 � �1f� �o�� ffio mr�, IX. ADJOURNMENT �`T�-� ^ • � � Minut e s Finance Committee CONVENE On September 11, 1996; the Investment & Finance Committee was called to order at 9:05 a.m. by Mr. Gibson. ROLL CALL Walter Snyder, Dick Kelly, Ray Diaz, Dave Erwin, Carlos Ortega, Bill Veazie, Paul Gibson, Jean Ruth, Rachelle Klassen Absent: Murray Magloff, excused APPROVAL OF MINUTES Upon motinn ,by Mr. Ortega, seconded by Mr. Envin, the Minutes of the August 14, 1996 meeting were APPROVED as submitted. Motion carried unanimously. ORAL COMMUNICATIONS None OLD BUSINESS A. Stat�s of P�blic and Private Partnershi sR Background Checks for Section 4 Mr. Ortega stated that he did not have a report for the Committee yet. g, t i.,darQ �� th� Issuance of New Bonds for Redevelonment Ho�sing Fund Desert Rose Mr. Ortega introduced Mr. Dennis Coleman, Redevelopment Analyst, who would be providing committee members with a handout and an oral report. Mr. Coleman stated that the Desert Rose Financing, after serious consideration, is being handled in a two-series financing, with Series A for acquisition, and Series B for working capital. The sizing of the acquisition represents the gross sales proceeds from the homes at Desert Rose, and we would be using the Desert Rose proceeds to retire the principal. The Agency is pledging Interest Only from tax increment which will cover the interest during the sale of these bonds. Sizing, right now, is approxi�ately $11,130,000. We will further size it as we get close to the Minu�es Finance Commlttee pricing, September 24, 1996. That will represent all of the homes which have not closed escrow, conservatively priced. Mr. Gibson asked if there would be any subtraction of money which has been received in escrow? Mr. Coleman replied, that it represents the pricing of the gross sale proceeds of all remaining, unsold homes. He further stated that anything collected in escrow, of course, will be used to call the bonds in November. The old bonds are callabie every second Tuesday, which is the interest rate period; so what the Agency expects is after these are closed on October 2, is to have all the old bonds (the muiti-family floaters) called on the second Tuesday of November—thirty days' notice i� required. Staff has looked at $11M with financial consultants; a reserve fund versus going with a surety bond. It was decided to go with a reserve fund due to the fact that the surety bond at 5% (which is just an insurance policy) would be paid on for 15 years, and we expect these bonds to be gone before 15 years. We can earn from the investments made with the reserve funds and use the reserve funds to make the final call. We have a commi4ment from MBIA to insure these bonds, which will be insured and rated. The set-up for both of these bonds is interest-only payments for the first fiVe years and then principal. However, on Series A we have the right to make the optional call. IYs a mandatory optional call, since every time we sell a house, every six months when the interest payments are due, we're going to take the gross sale proceeds that we've collected, put in escrow, up to 35 days before the interest is called, to call those bonds so we can give them notice. Mr. Snyder asked about the interest rates. Mr. Coleman replied that the short rate is 3.7%, and the long rate is 5.7% at this time, subject to market, will be looking at pricing it on September 24. They will come back after the closing to report the final numbers. Mr. Veazie asked Mr. Coleman about the terms mandatory call. Mr. Coleman answered that it is, in fact, a mandatory extraordinary call— iYs only mandatory when we sell houses. If we don't, there is the provision to start�dvertising the bonds at Year 6 through Year 15, and if vbe don't , the 2 ^ Minu�es Finance Committee principal calls aren't until the year 2006. This is the analysis which had to be done for MBIA to determine whether or not they would insure this, and they have given us a commitment letter. Series B is the working capital series-- the money we have identified in our budget previously, at the Budget Studies, that which we needed to infuse into the project in order to accelerate the sales program. Its gross amount is $8,150,000, and it ou�ht to provide net proceeds of$7M, which we feel we need to infuse into our housing fund over the next couple of years. The pledged revenue for it is only the Housing Set Tax Increment; iYs the 20%, not the 80%. And, for purposes of coverage and purposes of insurance. the insurance agency only looked at Project Area 1-Original, 1-Annex, and Project Area 2. They did not look at Project Areas 3 and 4 because they are very young-- one has a three-year history, one has a two-year history. Mr. Snyder asked if these would be paid for out of the 20% set aside; Mr. Coleman answered affirmative. Mr. Ortega then also stated that it comes from the 20% in set aside, and because we need to move Desert Rose along and provide the subsidies, we're only agreeing to pay interest only for five years so it makes it easier on us. Mr. Coleman added that we haven't obligated any money from tax increment other than the housing set aside. Series B is also set up for five years only. Since iYs a working capital, it looks at our ability to pay, so the interest only is five years, but the principal at Year 6 - Year 15. It is currently set up as a 15-year term. We will have the ability to call these bonds after eight years instead of the standard 10, with the premium starting from 3% down to 0%. We will be able to call these bonds at par in 10 years. At eight years we will take a look at our cash flow again and recertify. Since iYs a working capital bond issue, working capital term lengths are such that you have to pay the bonds as soon as you have the ability to do so. If our cash flow in the housing set aside is much stronger, then we can start calling the bonds saoner. If iYs the same as we predicted, then it will go out to the 15-year term. These bonds, again, have a starting interest rate of 3.7% and then going to about 5.5%, 3 Minutes � Finance Committee at this time. We have taken a look at the analysis. It was a bit more difficult to do the analysis as straight bonds to straight bonds (see handout), but basically the cash flow savings is about $939,000 by doing the Series A bond versus the current Desert Rose situation. It makes sense to do the "A", as well as the "B" for working capital. Mr. Gibson asked when we would be pricing these. Mr. Coleman answered, September 24. Mr. Veazie asked if the configuation presented here was based upon "current market conditions"; to which Mr. Coleman answered, "Yes". He added that the last computation that we had done was for the County, and that was a non-rated, non-insured bond, and that was the least-revenue bond, and the long-bond was 6.625%. Because we can get the "AAA", we can get the rate even easier. NEW BUSINESS A. Cit,y and Redevelooment Agency Investment Schedule Jean Ruth reported that there is an e�ra report in this month's Schedule. One of the California Government Code sectiorrs has been interpreted indicating need for inclusion of the Deferred Compensation statement. Even though the Deferred Compensation money is that which an employee elects to put into an account, it is self-directed and has nothing to do with City; it is, in fact, under the name of"The City of Palm Desert", and this code has been interpreted to include that. We will include with the reports to the Committee and also to Council, the two different Deferred Compensation statements we receive that need to be reported quarterly, so we will include them as we receive them with the memo which indicates that we are reporting it �� per the Code, not because it is our money. Mr. Ortega asked where those amounts would be reflected. Mr. Gibson answered that we do not include them in the regular Investment Schedule because we do not consider it an investment, and we do not want it to be construed that way; therefore, it is a separate report. But this method of reporting keeps us in compliance with the Government Code. Mr. Kelly asked what purpose this law wa� serving; was the Council required to do some type of oversight of the funds? 4 Minu�,es Finance Committee Ms. Ruth answered that she believes the law was created as a "knee jerk" reaction to the Orange County situation. As written, this code is in pretty general and even vague terms. Mr. Gibson further added that Orange County's Board of Supervisors actually considered using these funds to pay off some of their debts. In light of that, the federal regulations have now been changed so that they say that all of"you" must create a independent trust account for these funds, separated from the City of Palm Desert, therefore meeting the federal guidelines since it is not in the employee's name; therefore, they do not have receipt of the funds. But it is not, therefore, an asset of the City any longer. We feel it will be modified but until it is, will be reporting. Mr. Ortega added that he thought the City has until 1999 to change the documents and create the trust. The way it stands currently, it is an accounUasset of the City. Even though they are employee funds. Mr. Kelly added, funds which are directed by the employees. Mr. Gibson answered, yes, we have no control over the investment. Mr. Kelly stated, we have no responsibility other than to turn in this report and make sure that we don't do anything with the funds. Ms. Ruth further stated that on the Investment Report's graphs, in the portion that has the numbers, the little chart, we have changed the bottom portion there. It has been a point of confusion; now it says "Book Value" and has "Gain/Loss" separate and then you go down to the "Market Value". Gains will be in positive numbers, losses will be negative numbers. Hopefully this will simpfify the report. Another item to note on this chart, the gain has decreased on both funds, and part of this is due relative to the year-end process which Jean has been attending to, she hasn't been investing as actively. Therefore all the money that matured had gone into the Fidelity Sweep Accounts. These are held at market value, so the difference between market value and book value on the Fidelity's there are exactly the same, zero; hence the reason for the decrease, in addition to the market fluctuation. On the RDA Chart, you will see a substantial increase in the 5 Minuties Finance Comm�ttee portfolio size for last month, and this is due to the bond proceeds from the Blythe Courthouse Bond Issue done in August included in those numbers. In August we had two maturities in the City portfolio. One was used to pay debt service payments that were obligations of the City, so it was not reinvested. The other was reinvested at the end of the month, and it was the very first investment done with the noncompetitive bid using the Telerate as the comparison, and it worked very weil. Jean has copies of Telerate screens from the time of purchase on file, and she believes that we will be pleased with it. If anyone ever needs to look at the information, it is documented exactly what the comparitive rates were. Mr. Ortega asked about the Agency report Treasury Bills; was it strictly due to the high market value? Did we get out of Treasury Bills into something else? Ms. Ruth replied that there were quite a few maturities, and the reason the book value numbers are going down is because of the maturites. Another thing to compare to last month's report is that we now are on the accrual basis, and all of the interest earning instruments are changing— they are being amortized or accreted depending upon whether they were purchased at a premium or a discount. In the back of the report, the next to the last page (on both reports), "Premiums/Commissions/ Discounts Amortization Schedule", and it tells you specifically how much each instrument is being adjusted because of the accruaL Mr. Snyder asked about the RDA schedule going from $5 million in Treasury Bills, and the substantial change from last month's report. Ms. Ruth replied that it was primarily due to the fact that there were so many small accounts which are included iri the RDA Schedule. If every bond issue has one maturity (i.e. $500,000; $250,000), that will decrease it. Mr. Gibson added that these all roll into the Fidelity Treasury Pool. Further reason is that a cash flow analysis has not yet been received from RDA showing what amounts will be needed each month for the next six to twelve months, liquid to meet obligations. With this information, we could be better managing the funds. 6 Minutes Finance Committee Ms. Ruth will be conferring with Mr. Coleman to get a quick idea of the current projects. Currently our major project is Desert Willow (Section 4), and there are a lot of expenditures, around $20M worth of encumbrances/ purchase orders/contracts on the books: On the City side, Dick Folkers has given Ms. Ruth a projection of when he believes each of the projects will come due; and so far, his calculations have been pretty accurate. She plans to confer with him at least quarterly to further review the status and ensure consistency. Mr. Ortega asked whether Mr. Folkers' report included those projects which he is administering on behaif of RDA. Mr. Gibson replied there was oniy one— Deep Canyon, and that he had included it i� the report. _ Mr. Snyder commented that he certainly appreciated the format wFiich is being used for these reports; he found them to be much more informative. Receive and file report; submit to City Council for their review and information. B, Review Short Term Investments Maturingjn September 1996 Ms. Ruth reported that the money which had formerty been invested in Certificates of Deposit (CD's), because of better rates, has been invested into other things. On 9/26/96, there is a Fannie Mae discount note which is maturing; if the Committee approves, we will again review the CD's, as well as the other discount notes, Treasury Bills, and pick the best rate. Historically, we have been going out about three months. The Committee recommended following past practice, investing in the vehicle which would provide optimum return. C. State of California Local Agency Investment Fund Monthly Reoort 7 Minu�es Finance Committee This report is received monthly from the State showing our balances with the State's LAIF program. Mr. Ortega inquired about the comparison of the July 1995 to July 1996 effective yield decrease. .Ms. Ruth and Mr. Gibson both repfied, "Yes." Mr. Gibson added that this was due to the way the State ladders their maturities; they are always behind the curve of the interest rates that they are at now. Mr. Ortega commented that he still felt the yield was pretty good considering it is an investment which can be accessed within a 24-hour period. Receive and file report. D. Monthly Financial Report for Ci�y Council Mr. Gibson reported that for the months of July and August 1996, there is much activity of the accrued receipts and payments which are booked back to June 30, 1996, year- end closing. This significantly affects their low appearance. On the expenditure side, you will note that they are high, but this is based upon encumbrances/contracts are included in the expenditure column. If a purchase order is issued for the year, it will reflect 12 months' worth of encumbrance, in essence, overstating the expenditures for that month. Mr. Gibson also added that we are currently going through our audit, and the Governmental Accounting Standards Board (GASB) has made a change in reporting, affecting this fiscal year, basically affecting sales tax reporting. In the past, we have booked the June 14-July 14 cash received in July for sales tax, in the month of June. The new standards made by GASB now demand booking two months' worth of sales tax advances (July and August) to June. You will see that the sales tax will actually increase for June 30 due to this reporting, and will be offset by a prior year adjustment in a succeeding year to make "apples to apples." This is only the first round of new regulations; GASB is moving towards a full accrual basis, which would mean that all of our revenues would have to be fully accrued for the month of June. This will affect how our statements reflect both revenues and expenditures. 8 Minutes Finance Committee Receive and file report; submit to City Councii for their review and information E. Certification of Excellence Award presented to Citv of Palm Desert/Palm Desert Redeveloument Agency from MTA Ms. Ruth showed the plaque received honoring the certification of the Investment Policy. Committee expressed their grea: pleasure for this accomplishment. Award will be presented to City Council at its September 26, 1996 meeting. F. O�ce Comolex - 6/30/96 Financial ReRort Mr. Gibson reported that this is the office complex at 73-710 and 73-720 Fred Waring Drive acquired through court settlement. It is now known as Parkview Professional O�ce Buildings. Financials are received on a monthly basis, and will be presented at each future Committee meeting, then submitted to City Council for their review and information. Mr. Gibson reported that in reviewing the year-end financial statements, the auditors wiil be contacting the RDA attomeys regarding this enterprise fund; therefore, RDA can have an enterprise fund for a reasonable period of time until disposal of the asset. We will follow up with the attorneys' rep�y, whether this is passed onto the City or plans for its disposal. For future discussion should be a policy establishing reserves and disbursement of the excess. Initially when this acquisition was discussed, ideas were given to use profits to maintain and benefit Civic Center Park. However, do not currently have a formal policy to exercise utilization by either the City or RDA. Recommend meeting with Messrs. Diaz, Ortega and Gibson to formulate policy for review and acceptance by Committee followed by submission to City Council for adoption. Mr. Snyder and Mr. Ortega will meeting to disCuss policies 9 Minul,es Finance Committee for renting the complex, as well. Receive and file report; submit to City Council for their review and information. REPORTS AND REMARKS A. Any Committee Members' Reaorts and Remarks Mr. Snyder commented that last week he had received a call from an Indian Wells resident regarding their new, low- income housing project, and this citizen's particular dissatisfaction with it in comparison to Palm Desert's Desert Rose. Mr. Snyder reported that this citizen had stated the units were only 600 square feet each! We can be very proud of our Desert Rose Project! Mr. Veazie wanted to commend City staff for the improvements being made in the Palm Desert Country Club area— curbing, sidewalk, sewer, storm drains, specifically at California and Fred Waring. He further asked what fund, or tax district is funding these improvements. Mr. Gibson answered that it was General Fund money. Mr. Kelly added that this area also constitutes a Redevelopment Area which will generate more funding for improvements. There is a committee which guides the plans for this Redevelopment Area, of which Mr. Kelly is one of the City Council Liaisons. This committee meets at least monthly and is comprised of resident representatives along with Redevelopment Agency staff, and they set the priorities for projects. Mr. Gibson stated that the main project for the 96/97 Budget in this Project Area 4 is the Hovley East street improvements, and Mr. Diaz added that this was a priority as set by the Project 4 Committee. Mr. Veazie also commented on the welcomed presence of the police in the area since the area was annexed. Mr. Kelly requested making a change to the time for future Investment &.Finance Committee meetings to Tuesday • morning. Mr. Gibson stated that previously on Tuesdays, Mr. Erwin had a conflict . Mr. Erwin replied that Tuesday was now okay. Committee unanimously approved making change in the 10 Minutes Finance Committee regular meeting schedule to the second Tuesday of each month, 9:00 a.m., North Wing Conference Room. B. Items to be Placed on Next Agenda At the August 14, 1996 meeting, Mr. Magloff had requested a status report on the WymerflTM case from Mr. Erwin at this meeting. Due to Mr. Magloffs absence today, report by Mr. Erwin was deferred to the nert regular Committee meeting. Mr. Gibson reported that the Government Subcommittee of the 2010 Committee requested that the Investments of the City not only be reviewed in the process of our annual year- end audit, but be further audited by an independent firm (i.e. County of Riverside uses FSA to do a compliance audit and analysis of pool fund on a monthly basis). The 2010 Committee recommended a yearly review for the City. Mr. Gibson asked the Committee if they had interest in further investigating these possibilities, and if so, he would be willing to do the legwork necessary to report to this Committee. Committee members generally feit perhaps this was overkill; however, asked that Mr. Gibson place as agenda item for next meeting for review and action, if necessary. NEXT MEETING DATE The next Investment & Finance Committee will be held Tuesday, October 8, 1996 at 9:00 a.m. ADJOURNMENT The Investment & Finance Committee adjourned at 9:50 a.m. Respectfully submitted, RA �I.LE D. KLASS RECORDING SECRETARY 11 INTEROFFICE MEMORANDUM PALM DESERT REDEVELOPMENT AGENCY DATE: OCTOBER 9, 1996 TO: INVESTMENT COMMITTEE FROM: DENNIS M. COLEMAN, REDEVELOPMENT ANALYST SUBJECT: 1996 SERIES A AND SERIES B, $19,05,0000 TAX ALLOCATION BOND (DESERT ROSE PROJECT REFUNDING) RECAP Recommendation: To receive and file this report. Background: On October 3, 1996, staff executed the necessary document to close the 1996 Series A and Series B, Tax Allocation Bonds ( Desert Rose Project Refunding) in the amount of $19,050,000. The Series A Bond Issue was used to refund the 1994 Desert Rose Multifamily, Variable Interest Rate, Taxable Bond issue, issued for the acquisition of the Desert Rose Project. The Series B Bond Issue was used to generate working capital necessary to complete the sales of the units of the Desert Rose Project. 7he Series A Bond was sized at $10,880,000, with a 20 year term. The debt service for the first five years is set to repay interest only, with the principal repayment set to be , paid over the final 15 years. This bond issue, along with Agency cash, home sales proceeds, and pledged funds held by the Trustee for the original bond issue, will be used to redeem the original bond issue on November 12, 1996. The Series A Bond Issue was sold as a term bond with the payable in 20 years, should there be no home sales. The bond issue has a mandatory redemption provision for all home sales proceeds, as well as proceeds from both condemnation, and insurance catastrophes. There are no other provisions for optional redemption. The term bond has a rate and yield of 6.10%, with a true interest cost (TIC) of 6.266%, and a net interest cost (NIC) of 6.186%. The total debt service payment to be saved by this bond issue is projected to be $1,139,638. The Series B Bond Issue was sized at $8,170,000. This was done so that the issue would generate $7,000,000 in working capital for the Desert Rose Project. The term of the bond is set at 15 years, with interest only payments for the first five years. The bond PaLn DexM1 Aedevelopme�u Agetwy . 7u�Allasim Revewe Bu�ds 1996 Serim A(Dnen Rme)Md Series B(Wado�9 CapWW) � Combined Sacros md Uaes of F�mds•Firel Nunbas Saiuee+ofF�mds PtrAmaW o[BaWs 19.03Q000.00 Plus:A�rd INe�eII � 405I.16 � Bwd Prtmi�K��u) (61�775.0� L-ss:Undmwrilefs Diamun C�•�� TaW P�arcds . 1&162.479.11 qcy�d'u�g Specid Rev��e F�md 65'7.183.03 tlmie Sde Pmcads<Clmd-Not Urod bQll Hmb) 21ZB3200 TaW SamoesMFuds 19,632,794.10 Uxs of Fuds Deteuare o[Qi�ml Ba�d+nVai�B�WW 17.251.30D.00 ReserveFW IAD3.000.00 RexrvaFudCdwWim OlherUaeofF� 0.00 . IQOOSG 1.905.000.00 Cm+�lwvrce II9.000.00 MADS 3,204838.75 ��p�� 27qppp.pp 1.25X Avape Mn 2,331,131.00 �� 6,051.16 �� 8.t39.98 7ad Uw d Fuds 19.G!],79I.11 Run Dom �� . R�m7imc 7:07AM Grw�Debl Servi«on New Iuue Paiod Mnual FixW � �� ]�m{ DS DS DS �a�� onro6 . asa.az y�,y� �sa.az as+.osz 9/IN7 0 N/A 34/,874 541.874 99H.936 yly8 561.874 541.874 1.089.749 q�lqg 0 N/A 54I.871 541.871 1.069.709 3/1/99 SCC.874 SC4.67C � 1.069.749 9�iqq 0 N/A 541.874 54I.671 1,089.7N ytrop 594.874 549.874 1.089.7G9 9/1/00 0 N/A SM.674 560.874 1.069.749 3/IAD1 SOd.874 5/C.671 1.089.749 9/IrUI � 0 N/A SM.87� 54i.871 7.089.749 3/7l02 51I.871 514.8/4 1.089.709 9p/02 7.115.000 N/A SM.871 1.659.871 1,201.749 ylp� 515.251 SI5.25� 1,175.129 9nM 1.170.000 N/A 515,25I 1,fi85,25C 2,20D,309 3/1f0/ 463.699 483.699 2166.909 � 9/IA9 1p5.000 N/A 483.649 1.71&� ��+�`' ��ros ses9ta aes9�a 2�6e.sc+ snros i.ws.aoo N/A as.su i.�s�yu �,xa.em ylp6 114,Ti7 41/.7i7 2169.151 9/IAD6 1,375.000 N/A 41i,237 1.789.277 3.203.i74 3/IM 374� 3741�7 Z.165.461 9/1/07 1.450,000 N/A 376,221 1.l247L0 Z202.'M� ylpp 335.712 335.713 7,161,936 9/I/OB 1330.000 N/A 333.112 1.863.712 ].201.121 ylpy 2g2,527 29Z527 3,158,739 � 9/IN9 1.615.000 N/A 273.337 1.907.327 ].200.OSI 7nno z+4�r1 z�4�n z�s;.v9s w�no i.no.000 N/A s�,m �ys4m xwzs+e v�n� lmltz lm�tx 2ts9.6ae 9/i/ll 1.805.000 N/A 14/,212 ;00],212 2199,<2I � .i/1/12 IM.ST� IM370 11A6,782 9/1/12 HO.Q.O N/A 1H370 9M.570 . 1.129.1�0 � 3/1/13 118,950 il&930 1.103,520 9/1/13 890.00U N/A I1E950 1.008950 1.117.9DU 3/1/14 � 91.i05 91.lOS 1.100,755 9/I/14 9/5.000 N/A 91,L05 I.036,E05 1.128,610 3/1/IS � 62983 62983 1.099.786 . 9/1/IS 1.0OO.OW N/A ,G{983 1.06�9N3 1.125,965 3/1/16 3x4t3 32,d83 1.095.�65 . 9/7/16 1.065.000 N/A 3;183 1.09'/.�83 1.129,955 3/1/17 �•�'� 19.050.000 73Y11.66t 33.021.66t 33.031.66I 33.021.66/ q054 4054 Q054 4034 13,965,610 33,015,610 33,015,610 33,015,610 � Net Dehl Service On New Ime 1> ,JO 4.00 Scm-Mn Lem: I.ea: Sem-Mn Mnmi Mnual 6165168 Nea Iaue Aemmd Rmrve Fimd Nea laue N<w Ime New Ime PreanLL pme DS Lrtaert 6vdngs NnDS NetDS FiawINnDS Vdue ' ia�roe �o!eros v�ro� - asa.o6z 5,ose 3t,7n a�46at a�4ea� aob.za6 9/1/97 SL1.870 38.100 5(16.T/4 923.056 479.076 y198 514.874 38.100 506,774 1,013.599 464.52a 9/INB 514.87< 38.100 506,779 1.013.549 450,415 � 3/I/99 544.874 3&I00 506,T71 1.013.509 436,739 9/IN9 541.874 38,1OD 504774 1.013.599 423.A68 3/1Po0 SN.874 38.100 3a4774 1.013.599 410.606 9/1/00 544.874 3H.100 N16.P4 1.013.549 . 398.134 3/IPoI 544.870 38,100 � 506,774 1.013.549 386,041 9/Irol Saa.e7< 36.100 506.77< 1.013,549 39/.315 . 3/7/02 544.874 3&100 5116.T/4 1.013,549 363,993 9/lAD2 �1.659.874 38.100 1.6i1.710 1,138.549 1.126,215 3/IAD3 515.2T1 38.100 4T/.ISe t098929 . 321,387 9/IN3 1.685,739 38,100 1,6/7.151 3,124�09 1.075.A08 . 3/IAD1 483.619 3&100 H53'�9 Z.�.T� �.� . 9/tA1 1.71&N9 3&IOD 1.680,549 ;126,099 1.031,569 3/lADS M9911 38.100 111.810 ;092,.t6/ 2/5.105 9qro5 t.751910 ' 3&IOD 1.71Qalo 3,136.6M 990.783 3/1/06 411,2i7 3&100 37Q137 3,09�951 21Q�71 9/1/06 1.789,137 � 3&100 1.751.137 ;I27,27< 950.13i 3/lA7 376,�34 3i.100 336.I24 2089.261 1T7.887 9/1/07 I.H1b,221 38,100 1.788,124 ;126,219 911,157 3/1/OH 335.712 3&100 297,612 3,Oe5,7i6 147,i06 . 9/I/OB 1.865.712 3&100 1.827.612 7,125,324 87452< 3/1/09 29jS29 38.100 254727 206;039 I18,317 9/IA9 1,907.527 3&100 1.869.�27 ;iTi,851 843.9iG 3/1/10 2C6,072 38.100 20837I 2.077.795 91.103 9/1/to 1.95Ey172 3s.100 1918,_�72 213Q7M B13,S59 3/1/71 197.212 3&100 139.112 =.�A� �,� w�n� zoozzu sss.iao �.�n.ux ��o4n� u�.�oa 3/1/12 IN�70 21.760 172,810 1,259.922 17.K2 9/lA7 9&370 21.760 962.710 1.085.620 .350.785 - 3/1/13 118,950 27.7N1 97.190 1.06D,000 35�13 snns i.00saw z�.�co m.�se i.oN,�eo 3+�.� 3/1/11 91.805 3I.760 70.015 1.M9.]35 23518 � 9/1/I< 1.036.805 21.760 1.015.015 1.085.090 33Q213 3/1/IS 6;963 21.Y60 II,YL3 �.U34� 13,239 . 9/1/IS 1.06�983 21.760 I.O/I,7L3 1.082,M5 32/,251 . 3AA6 31183 21.7bo 70.]23 1.Oi1.945 3,738 9/1/16 1.Off/.183 1.109.760 (17,276) (ISS� (3.595) LI/17 ��zn8� 33.021.6W 4051 3,258.827 29.756,783 29.756,783 29.75Q763 16,SIQ170 Alm Daat Redevelopmau Ag'xy peurt Ros¢Rojec�Serin A od Series B HmdYieldGlwWim DelivayDtls la3/96 Yieid' S.9821Y2 P.r Amaml olBwd. 19.050.000.00 Phs:AomsdlN<rtrt 4�1.16 (OIDY�� (N.975.0� Lw:Irourre Aemiuo (Y/4�.00) ra,ir.� �a.m.a».0 DATB FV PV . IN396 p8.721.079.1i) (18.T21.079.11) 3/197 151.061.96 N3.191.15 9/1191 3M6/t36 5143M.02 � y�ry9 SH,87138 SOI�E7.Y2 � - 9!1/96 3N.871.38 �86.825.95 3/1/99 SH,E71.38 4�687.58 9/1/99 SM,P74.38 /58,959.81 yIADD SN.87L38 4/5,630.�3 9/ll� SM.871.38 i32688.�1 3l1/01 SII.S7138 �20,17t.62 9/INl 51/,E7138 �07.917.M YlAD2 3KI7�36 39407�.60 9/1/02 1.659.t7138 1,171,537.79 3/lA7J 3�5,75/36 353,100.19 � 9/IA3 I.N5,2S13B I.I21�66.2I 3/lAI 1l3.619.38 31zIT3.1a w�ror L��A�s3e i.on.in.n � v�ros a�s9u.3t n4aiv.sa w�ros tJSW�us �.ro�.asz�s v�ros n�,zis.ss za�.e�.a v��roa �.'�.z.w.ae ss�,;s�3i 3l1/07 376,32�3B 203.672<2 � 9/1r07 1,E26,]2138 959,930.71 � 3/Ip8 335,711.88 171}37.70 9/1/D8 1.865.711.86 91<,351.83 � 7/�/pg 29Z526.88 1<0,751.17 , 9/1N9 t.907,526.88 891.16531 . 3/1/10 2�6,171.68 111.803.52 � , 9/1/10 1,956,QI.68 H61.71205 3/l/ll 19'7211.lE 8�337.76 9/1/Il 200�211.88 631,3A.91 3/1/I2 IM f70.00 58,786.52 ��ni va+.s'ro.00 3es.�zza 3/1/13 lIBy50.00 �5.212.I7 ' A'7/13 1,008,950.00 3TS,35827 3I1/11 91.805.00 37,897.14 9/1/1< 1.034W5.00 360.735.91 . 3/1/IS 6?,98'L50 27.277.11 9/1/IS 1.067,98250 348.67J.82 3/t/16 Y1,08250 10,34530 9/1/16 1.09'/.I82.50 339.38432 14,30D,584.74 O.JO � Palm IJesM Rede�rebpnenl Aymcy � DesM Rose Praject,Snies A aM Series B NIC Caku�tbn Totallnterest 13.977,6p.85 � . PWs Undarwrilers Discamt �.�.� Plus OID/(Premium) �.9�.� Todl 14.265.238.90 N�C Calculation 5.9224t2382 qveragp�i1e 12.6438G125 Avaage Coupon 5.e0�99� . 19.050.90 240.867.50 DA?E . PERIODS MATURITY 00NDYEARS tOFll96 ' ' . 3fti97 0.41666666/ 0.00 � .. 0.00 - 9M97 0.97666666'7 0.00 0.00 y1AB 1.47�7 0.00 0.00 gH196 1.9766�667 tl.00 0.00 3�i199 2.416G66%7 O.t10 0.00 91t199 2916fi6fi667 O.OD O.OD 3Mq0 3.41fi66666I 0.00 0.00 9l1A0 3.9166%G67 0.00 0.00 � 3/11D7 4.4166W667 0.00 0.00 9FIp1 4.91686666/ 0.00 0.00 3I1i02�': 5.41B66W67 0.00 0.00 9/iq2 5.9166%%7 1.115.W 6,597.08 3liN3 6.418fifi8H8'7 O.OD 0.00 � 9/1�03 6.916666667 7.17tl.OD 8.09250 3H�D4 7.416666867 0.00 0.00 �,naa �.s��s� i.zis.00 s.m.ae 3n,os s.a��ss7 0.00 6m� 9nA5 a.9t6E66GG7 t.306m 1i.63625 3/1p6 9.416660'667 0.00 0.00 . 9l1q6 9.916W6B67 7.375.W 13.&5.42 31ti07 10.41686667 0.00 0.00 �7A7 10.976fi66fi7 1.450.OD 75,879.17 3HA8 11A1666667 0.00 0.00 9H�08 11.916%667 1.530.00 18,732.50 3�iq5 12.47666867 0.00 O.OD � . 911A9 1291666667 1.615.00 20�860.42 . 'J1l10 13.416666G7 0.00 0.00 9/1H0 13.91666667 1.710.00 73.797.50 3I1/11 144166fiti67 000 0.00 9/7M1 t4.91�7 1.805.00 26.924.58 � . 3!t/12 15.41666667 0.00 0.00 9/1112 15.91666667 840.00 13.370.00 . 3I1/13 16.41666667 0.00 0.00 . 9H/13 16.97666667 �O.OD 75.0%.83 3�1/14 17.41666667 0.00 0.00 - 9/7f14 �17.91668667 9C5.00 16.93125 3HH5 16.47666667 000 0.00 � 9!7/7 5 18.91666667 1.000.00 18.916.67 3M/16 19.47666667 0.00 0.00 9M/i6 19.91666667 1.065.00 27.21125 RM Ikurt Redevalopnc�a Agenry . Tc<Nlow�anReruu�e 9md+ 1996 3eriea A(Desen Rwe) � Swucee end Uaes of Fwds-Finl N�unhers So�mmsofFud+ PerAmamtofBmds 10.880.000.00 PIw:A�dlroe�ert � 3.667.71 ' Bad Pemi�K��) 0.00 Las:Undenvritel�Di�mwt (130,560.0� 7�p��m . 10.753.I27.11 pmyandi�g Speeid Revmu¢Fwd 657.�83.03 Name SJe P'oi.�aed�(Cbeed-Nat Ueed b GII Bmd�) 21Zi3Z00 TaW Saua�of Fwd� 11.621.H211 Uxao[Fwds DehawKeo[Ori&�B� ' IU.2f1.300.OD RaerveFwd 1.08&000.00 RnmaFwdCJwWim 01herUuofFwds 0.00 IO.W% 1.088.000.00 CmtsatWiurce 11?,323.16 MADS 1.129.7bS.00 �p'�� 161.000.00 125X Avmrge Mn 1.261.113.96 �� 3,687.11 �� 4,13137 TaW Uza MFwds 11.623.H21� Rw DWe �rz� RwTimc 7:07AM Pamium/DiuowlGlailation � Remimn Ihte Cwwpw� Prioe Y:eld P(ineipd (Ditm�oa) iai,vc ionro6 3/197 9/IN7 0.000 �100.000 0.000 0 0.00 3/INB 9/1/98 0.000 100.000 0.000 0 O.OD 3/lr➢9 9/1/99 0.000 100.000 n.ppp 0 0.00 3/1/00 9/1/00 0.000 100.000 0.000 0 . 0.00 � anroi 9/1/01 0.000 100.000 O.ODO 0 0.00 3/t/02 9/1/02 5.100 100.000 6.100 465.000 0.00 3/1N3 9/1/03 6.100 100.000 6.100 490.000 O.OD . 3/1/M 9/1/OI 6.100 100.000 6.100 520.000 O.OD ' 3/1/OS 9/lADS 6.100 100.000 QIOD 555.000 O.OD LIN6 9/1/06 6.100 100.000 �; 6.100 590.00D 0.00 3l1/07 9/1/07 6.100 100.000 6.100 625,000 0.00 3/1l08 9/1/OE 6.100 100.000 6.100 660.000 0.00 LI/09 9/IN9 6.100 100.000 6.100 70D,000 0.00 3/1/10 9/1/10 6.100 100.000 6.100 715,000 0.00 3A/I l 9it/it GtoO 100.000 6.100 790,000 0.00 3/1/12 9/1l12 6.100 100.000 6.100 S/O.00D . 0.00 3/1/13 9/1/13 6.100 100.000 6.IOD 89q000 U.00 3/1/10 9/1/li 6.100 100.000 6.100 9I5.000 0.00 3/1/IS 9/1/IS 6.100 100.000 6.100 1.000.000 0.00 3/1/16 9/I/16 6.100 100.000 6.100 I.OQ5.000 0.00 IQ860.000 0.00 Gmss DeH 3eni«on New Issue Period Anniul Fud � p�c�pv gme Inm�ert DS DS DS iavvs trn�vs y�q� � 276,533 276,533 276,533 g/1/9'7 0 0.000 331.Bd0 331.BC0 608.373 3/1/96 � 331.840 331.840 b63,680 9/�yg 0 0.000 331,8A0 331,8C0 663,680 ylyg 331.840 331,eA0 bQ7.b80 - 9/�/gg 0 0.000 331,890 331,BI0 663,680 yl/pp 331.640 337.840 6F3.680 9/1/OD 0 0.000 331,890 331,840 663,680 � 3/1/O1 331.840 331.890 bb7,6H0 9/7/O7 0 0.000 331,810 331,&f0 663,680 � )/1/p2 337.840 331.840 363.660 9/1/02 �465.000 6.100 331.840 796.67U I.I28.680 3/1/03 317.656 317.658 1.114.M8 . 9/IID3 �9U�000 G100 317,656 BO'7,656 1.125'715 �1/pq 302,713 302.713 I.IIQ370 . 9/1/0/ 520.000 6.100 303,7I3 8Y1,713 1.12T.125 3/1/OS 38Q853 3BQ853 1.109.565 9/1/OS 555,000 6.100 786,853 &1,853 1,II8.705 ylpb 269.qi5 26g,925 1.111.T18 9/IPo6 59Q000 Q100 269.925 859,925 1.129.650 3/Ip7 251930 251930 1.111.855 9/1/07 625.000 6.100 2T1.930 876.930 1.128.860 3/l/O8 23Z.866 Yi2866 1.109.796 . 9/1/OS 660.000 6.100 232.868 647.H66 1.12T,Ti3 , y/1/pg 713,'/38 21;TlH 1.105.605 9/I/09 7(ID.000 6.700 '21�736 917,736 1.125.�75 3/1/10 19I,388 191,388 I.id.i2f 9/1/10 715.000 6.IW 191,388 936�88 1.177.775 3/1/11 16H.b65 168.665 I.lO5.Q53 . 9/1/tl 790.000 6.100 168.665 958.6Q5 1.127,330 3/1/12 1M,570 IH.570 1.103,735 9/1/12 870.000 6.100 IH,570 984.570 l.IZ9.190 3/1/13 118.950 116,950 1.10]320 9�1/I7 89D.000 6.100 118.950 I.OD8.950 I.II7,900 3/IA4 91.805 91.805 I.IOOJ55 � 9/1/N 9d5,000 6.100 91,805 1,036,H05 1,128,610 � 3/1/IS 63,983 62,%3 I.W9.7O �. 9/1/15 1.000.000 6.IOD 6Z963 1.062,983 1.12T.965 3/1/16 37,<83 37,<83 1,095,A65 9/1/16 1.065.000 6.100 3Z483 1.097.4H3 1.129.965 3/l/l7 1.097.I83 10.680.000 9.297.673 20.17/,H23 20.1T/,H27 20.1T/,821 3,6H'1 3,687 3,687 3,687 9.29a.136 2Q17<.136 2Q171.136 20.174.136 � NetDeblSerciaOnNewlssue I.O�....p 4.00 Sem-Mn I.�ss: Less: Sem-Mn Mmuei Mnual 6.1b5168 � Newlssue Acaued AeserveF�md Newim�e Newtme Newlsvw Rexnt py� DS Intuest ' fiami�s N<tDS NetDS FiadNelDS Vdm �airoa ionrsc 3/IN7 276,533 3.687 17.H71 25I.955 250.955 24B,570 9/i97 331.840 21.'/60 310.OB0 565.035 293.132 3/IN6 33l.840 21,760 310.OB0 62�.t6o 2ea.us 9/196 331.8A0 21.760 31Q080 620.160 275.595 � 3/IN9 331.8� 21.760 310.080 620.160 7b7.224 9/1/99 � 331.840 21.760 310.� b20.160 259.107 . 3/1/00 331.640 21.760 310.� 620.160 251.237 9/1/00 331.Ba0 21.'/60 � 310.060 620.Ib0 1A3.606 . 3/1/OI 331.890 21.7E0 � 370.080 62Q160 276,207 9/lrol 331.ea0 21.760 310.� b10.160 229.032 3/IN2 331.890 27.)60 910.OH0 Q0.160 711,075 s��roz �vs.sao zi�ao ns.oao i.oss.�6o sssz<z 3/IN3 377.658 27.760 295.896 � 1.07Q978 199.240 9/1/03 807.658 2t,160 '/65,698 I.OY1.795 513.103 - 3/1/01 WL713 21.760 Z&1,953 1.066,850 1T/.859 9/1N6 832713 27.7b0 800.953 I.M1,905 <91.608 3/1/OS 286,853 21.760 2b3.097 1.06Q015 157.T/9 9/1/OS 841.853 21.760 820.043 1.085.185 /73.280 3/ip5 369q15 21.760 ZCB.I65 1.068,258 13&B67 9/IN6 859,925 ��. 31.760 83$I65 1.0H6,330 45I,T71 - 3/IN7 251,930 21.760 YM1.170 1.068,335 121.092 9/1/07 876.930 21.760 855.170 1.085}10 03QT39 yl/08 Z17.B68 21.760 211,106 1.066,I78 1W.�19 9/1/OB 892.866 21.760 871.IOB 1.081,t15 /17.784 � . 3/1/09 212,7?8 21.7fi0 190.978 1.06;085 88.811 9/1/09 913,i38 21.7W 89D978 1.081,955 i01.799 3/1/10 191}68 21.760 16J.R8 l.O6Q6Q5 70.i63 9/1/10 936,38H 21.760 91/,61E 1.06(755 387.740 3/1/11 166,665 21.760 1�6,905 I.061333 60}86 9/i/11 95&� ZI.760 934905 l.OB3.B10 373.47Z 3/1/12 1A4,570 27.)60 17;810 1.059.715 17.l62 9/1/12 964.570 21.760 9R,810 I.WS,�D 360.789 � 3/1/i3 118.950 21.760 97.190 1.06Q000� 35�13 9/1/13 1,00H.950 21.760 987.I90 1.08/9B0 307.T90 3/1/Id 91.605 21.760 70.W5 1.057,2i5 Z1.926 9/1/I< 1.036,805 21.7W 1.015.005 1.063.090 336,213 � 3/i/IS 6;983 ]1.760 11,727 I.OSQ269 13.239 9q/15 1.06x983 . 21.760 I.O/I,713 1.083,M5 324,251 . 3/1/16 3x083 21.760 10.T13 1.051.915 3.738 � wv�e �.om.<s3 t.ios.�6o Pzz'� (�35� (3.ssA 3/VI7 �� Z(1.1T7,823 3.667 1.954,532 Ie,]I9.605 18,219.6Q5 1t,219.605 9.9f19.?39 Alm De�ut RederelopneN Agen�.7' DeuM1 Raae AoJe0.Series A BaM Yicld Glalctim DeliveryDam �� . Yield 6265168 WAmam:otBwds 10.6BO.00O.W Phs:Acauedlnterest 3.687.11 (OIDYDIP 0.00 Less:IvNanccPrcmiwn (161.000.00) 7oW Taget 10.713.687.17 DA7& FV PV� � � 10li96 (10.722,687.11) (10.T22.687.11) 3/1/97 27Q533.33 2W.609.19 9/197 331.lA0.00 3I3,70283 � . 3/ir98 331.U0.00 304.17A31 9/1/9B 331.SN1.00 19I.S35.31 3/1/99 331.BV0.00 783.976.75 9/199 331.810.00 ]71.29D.A0 3/lAD 331.SM1.00 268.8b7.88 9/1/00 331.BG0.00 3N1.701.20 3/IADI 33�.810.07 ]52.78257 9��p� 331,890.00 205,104.07 3/IAD2 331.BA0.00 237.65938 9/�p1 'l96,eq0.00 553�5213 3/1/03 317.657.50 213.891.b9 � . 9/1/03 807.65730 527,310.14 3/1/01 301.71250 191.631.35 9/1/04 833.71250 SOd.OD4.0 3/1/OS 286,E5250 170,730.00 9/IADS B/I.85250 /65.837.80 3/lAD6 269.92T.00 151.013.66 9/IAD6. 859.925.00 �6b.7Ti.B0 3/1/07 351.930.00 131,510.16 � 9/1/07 97b.930.00 M7.338.86 3/1/DB Tf],867.50 715.18202 9/1/08 b7LB6Y.30 /28.219.96 3/1/09 212T37.50 98.930.01 � . 9/1/09 911,737.50 411,560.79 3/1/10 191,387.50 63.676.94 � 9/1/10 936,387.50 396,9W.71 . 3/1/il 168.665.00 69.33�.b7 9/1/Il 958.665.OD 361.U95.OI 3/I/I2 � 1N,570.00 55.871.09 � 9/1/12 984.590.00 368.9d3.03 3/1/13 118.950.00 I3.]79b5 ' 9/1/13 1.008.950.00 355.�59.84 3/1/11 91.t05.00 31,361.10 � 9/1/1� 1.036.805.00 3�3.a20.17 . 3/lA5 61,982.50 20.726.01 9/t/15 1,063,982.50 331,726.99 3/1/16 32,482-50 9.W8.23 9/1/16 1,097,48250 321,323.95 9.455,73612 U.00 RESERVE FUND GLCULATIdI DOLLAR . ..AJNT .. _'_'__=__==___-'__"___'____'___"__________ Npxl� ANNUnL DEBT SERVICE 1,129,965.00 10.00X t,O88,000.00 7.25 • AVERAGE AMNwL 7,261,713-% - DATED DATE 10/07/96 DELIVERY DATE ��3�� YIELD CALWLATIONS ''_'_�_""'__'_:"'__'_ PAR AMOUNT Of BONOS 70,880,000.00 � PLUS ACCRUED [NTEREST � 3,687•11 �E55 INSURANCE PREMIUI (161,000.00) � 1E55 SURETY BOND PREMIUM 0.00 LESS UNDERNRITER�S DISCOUNT 0.00 LESS COSTS OF ISSUAMCE �•� � LESS DISCOUNT/PLUS PREMIUI 0.00 TARGET MIWNT='==`'-a'�T 10,722,687.17 TRUE INTEREST LOST (TIW �; 6.2657683 'vv�eeeexvxvsacoeeex�asse'v::za�m`:" TOTAL INTEREST 9,297.ffi333 PLUS UNDERYR[TER�S DISLOUNT 130,560.00 � P�US DISCOUNT/LESS PREMiUI 0•00 ¢ssa=r_aassse:sasaexsasszaasasaesasaasszs=sse TARGET AMOUNT 9,428,383.33 NET INTEREST COST (NIC) 6.1856562 BOND YEARS 152,423.33 AVERAGE LIFE 14.0094975 AVERAGE COUPON 6.1000000 . DENOMINATIdI 5,000 COMVWNDING SEM DAY BASIS 30/360 pdm pesertRederelopmmtAgenry ' Tnc Allawtm Revenue Honds . 1996 Series B(Waking C+pi�d) Sdaces ud Uxs o[F�-Fiml Nwnbm Sourm ofFuW � Pr AmouLL ofHada B.I70.00O.W Plm:Awaed INerot ].3b7.Q5 BadPmsi�/(DiwamQ (61975.0� Less:Undaw+iteh Diam�mt (%.�.�) . Tad Proaeds � 8.009.352.00 OilrrSavmdFuds O.OD phn Sarce dF�mds � o.00 7ow1 Sav«s of Fud� 8.00935200 Uus of Fu�d+ Walo�gGpimlAoe<eds ' 7.0OO.OG0.00 Rexrve F�md 817.0OO.OD Rcxrvc Fwd CdwWim nJ�erUmofflmM 0.00 10.00X 817.000.00 CoelaaCtuiunro 76,676.N MADS 1.074873.75 Imvu�m Pravi� 109.000.00 1.25X Are�e Am 1.U70.920.01 Amaed Intac4 � �767'OS �� 4,306.47 TaW UeesofFvds 8�009.733.00 R�m DWe � R�m Time 7:07 AM Prcmiwn/Discant Cd�vldim Remium p� (',�w�pon Pria Yield Primipal (Dueamt) �ai�ns tairo5 3/1N7 9/iN7 0.000 100.000 0.000 0 000 3/IAB 9/198 0.000 100.000 0000 0 0.00 � 3/1/99 9/i/99 0.000 100.000 0000 0 0.00 3/1/00 9/1/00 0.000 100.000 0.000 0 000 � 3/1/01 wiroi a.aoo �ro.000 o.000 0 o.ro v�ros 9/IN2 4:750 100.000 4.750 650.000 0.00 3/IAD3 9/IAD3 190D 100.000 4.9(10 680.000 0.00 3/1A11 9/1/01 5.000 IOO.OW 5.000 715.000 0.00 3/iN5 9/1/DS 5.000 99.286 5.100� 750.000 (5,355.00) 3/1/06 9/1N6 5.100 99.228 ' S.200 785.000 (Q060.20) �iro� 9nro� s.iao �.na s.3oo ess.000 cas�e_�o> viros 9/1rD8 5.30D 99.124 5.400 67Q000 (7.621.2� 3/1/09 9/1/09 S.JW 96.621 5.550 915.000 (11,590.�0) 3/1/10 9/1/10 5.500 98.562 5.650 9Q5.000 (U.896.70) 3/1/11 9NII 5.62T 98.753 5.750 1.015.000 (12,65'7.0� 3p/12 9/1/17 0.000 100.000 O.OdJ 0 0.00 3q/13 9/1/13 0000 100.000 0.000 0 O.OD � 3/1/74 9/1/14 0.000 100.000 0.000 0 0.00 3Q/IS 9/1/IS O.IXIO 100.000 0.000 0 0.00 3/1/I6 9/1/16 O.00D 100.000 0.000 0 0.00 8.170.00� (61,975.0� G�aa DeM Savia m New Iswe Periad Mnual Fisd Dek Prirc�pe� Rak Imcrcrt DS DS AS �airo6 �a3ros v�� n.szv m.szv m.sz9 . � 9/197 0 0.000 213.034 213.03I 39J.563 3/IN8 213,034 273,039 426,069 9/INB 0 0.000 213,039 213,030 126,069 3/I/99 213.03C 213.034 47A.069 9/7N9 � 0 0.000 ]13.039 213.039 IH,069 . � 3/1/00 213,034 213.034 426,069 9/1/00 0 0.000 213,034 213,034 426,069 � 3/1/01 213.034 313.034 17b,069 9/1/01 0 0.000 213.031 213.Q3� 426,069 3/1/02 213.03/ 213.034 12Q069 9/IPo2 � 650.000 4.750 213.034 863,03a 1.074069 3/1/03 197.597 197,59Y 1.060.631 9/1/W 66Q000 4.900 197,59Y 871,597 1.075.19d 3/i/01 180,937 180y3'! 1,058.534 wtro� ns.000 s.aoo tao,93� e95qi� t.o74a7s . vtros ia3.osz �cs.asl �.asa.ss9 wtros �s0.aoo s.000 �s3.az 9is.o61 �,m5,�za � 3/1/06 IA4,3I2 IM,312 1.037,37� � 9/1/06 785.000 5.100 IM,312 929�12 I.d73.63< 3/I/OJ 721.291 121,29/ 1.053.606 9/IN7 825.00D i.200 121,294 919,291 I.073,5g9 3/1/OB 103,80/ 10�811 I.Qf1,139 9/1/OB 670,000 5.300 IM,E19 9')7,6{0 1.073.689 v�ros �m.�ss �.�ev ,.oszs3, 9/1/09 915.000 S.GOD 79.789 991.789 1.0'14,579 3Aq0 55,081 55,0& I,P19,874 9/1/10 965.000 5.500 53.0& 1.020,OE/ 1.075.169 3/1/It 28,5�7 28,547 1.018.631 � 9/1/II 1.015.000 5.625 26,547 I.013,547 1,07{090 3/1/IZ 0 0 I,Oi3,547 . 9/IA2 0 O.J00 0 0 0 � 11/I3 0 0 0 9/1/I3 0 0.000 0 0 0 . vina o 0 0 9/1/14 0 0.000 0 0 0 3/I/IS 0 0 0 9A/15 0 O.00D. 0 0 0 . � 3/1/I6 0 0 0 - 9/1/16 0 0.000 0 0 0 3/1/17 0 6.170.000 1.6Ti.811 I�H3.H7 11,613.811 13,613.Si I z3s, zx, z�, z�� 4.671.<73 17,841.<73 I Z 841.4T3 1 Z 841.473 NetDeMServimOnNewlssue 81i,�00 4.00 Sem-Mn Less: Less: Sem-Nm Annuel M�ud 5.536599 . New Issue Acamd Reurve Fvd New Iaue New Iaue New Ime Rexnt Dek DS Inkrta Eemings NnDS N<tD3 FadNaDs Vdm �airoc �onro6 3/lr'97 177.529 2,367 13.433 161.'Ttb 161.T26 158.136 9/1N7 213.031 16,3a0 196.691 356.421 167.147 3/1f98 :13,034 16,3a0 196.6P1 393,389 I8;705 9/1/98 2I3.03i Iq3C0 196,69/ 393,389 17/,200 3/199 2I3.Q31 16.340 19d,691 393,389 1Tl,<27 9/1/99 213.03C 16,340 196,644 393�89 167.762 . 3/1/OD 213.034 16,340 196.694 393,389 163.7b2 9/1PoD 213.034 � 16,390 196,69d 393,389 158.865 3/1Po1 2I3.034 16,3d0 196,691 393,389 154.585 A'1/01 213.031 16JA0 196,69/ 393,389 . 150.121 3/1/0! 213.034 IQ340 I9Q694 ' 393,389 14Q369 9/1/02 - 863.03C 16,340 NQ69< 1.093,389 613.091 3/lAD3 197.597 16,310 181,257 I.0't7,931 127.713 airos ans9'� �4s�w es�.ss� �.azsu s9o.a90 . 3/lAD9 16Q937 16,310 16<,597 1.02T.W 109.810 9/l/W 895937 I6,310 879,597 1.014,191 371.OII 3/lADS 163.062 7Q340 1�6,T12 1.026,A19 93,682 9/1rU5 91},� 16,3a0 896,72i 1.013,M1 551.190 � 3/1/O6 1M}12 16,310 137.9'T! 1.020.690 76.542 . 9/1/06 979,372 '� IQ340 91],9'i2 1.0/0,9/1 531,352 3/1l07 120.290 16,310 107,950 1.02Q926 61.I37 9/IA77 909,29/ 16,3/0 931y51 1.010,9D9 SIa.IYi 3/IAoe 103,Ba0 16.310 84501 1.019.459 46.386 9/1/OB 9T1.640 lb3a 934�M 1.017.OD9 499.086 Y1/09 79.789 16,340 63./09 1.019,931 � 31,215 9/IPo9 991,789 16,310 976.N9 1.0/1.899 /63.402 3/1/10 55.084 16}W 3&�M 1,017,19� 18,6M 9/I/10 I.020.080 16,3/0 l.0IXi.7M 1.042,/89 769.502 3/1/11 IBy17 16,3/0 1],2U! 1.015,951 5,556 9/i/11 1.043,5/7 833.3C0 3IO,Y17 72Z�1/ 43.107 3/I/12 0 0 0 210,207 0 9/1/12 0 0 . 0 0 0 � 3/1/13 0 0 0 0 0 - 9/1/13 0 0 0 0 0 3/1/I< 0 0 0 0 0 9/1/Id 0 0 0 0 0 3/1/IS 0 0 0 0 0 9�1�15� 0 0 0 0 0 3/1/I6 0 0 0 0 0 9/1/16 0 0 0 0 0 . 3/i/17 � I7,8i3.811 2,36'/ 1,304,295 11,537.176 11,537.178 II.337.178 7,305,359 ' FROM � MUNiSQFi i=ttiuNt_fVu. : 1 �e� 4re b.]bl aep. �o .»o �o....,.,�. �_� Pds Dert➢�iwlqM�tA�f A�Aqiq JaiwB BadYiNC�InJuim DdivpD� IOGi% � . rr�a ss�awa s��.d.,rava� aimaaro ry.:��.aw... �.m �� t�,ru.on ��r�e�o. am • . �..L.am.pr..:s pocmo.a�j � Tm17�pt �yq�y=,Qp ' . DA7H py p,r . i�vs �.uw�o:uo) nsw�rx.00i 1�197 1T,37l.63 1�l,yy7.13 a�,v> »�,mase wt�s.a � N/W 31l.07t3� 197X��0 A'1At 2t�,031.I1 1019)0.�7 N/99 117.06�� 1�6,75065 w�ro9 nxmu� in.no.io v�ao n�.� natu.os 4nao z�3.m+n �nAs:.�s Nt/01 21L0.4.7Y 167�tl6,gt V/INI 213.GUI.It 13791i93 L1/02 21�.0�.]I 17t.711{I - 9/1� �41.UO13/ Q493.."76 Llai 1973%ii I19.3I5.6i w�rtc m.sscn w�.ew.m riro� iw,s�e.0 im;n�.n snar �ss.rssn it1.619lf 31IAD5 103,Ob1.It 167,OM.ii A'IAS 911061.p l6�,by,p Y1�96 14(311.1� K31t97 9/lA6 919,711.q S�D./61.Y 3'IN7 IX�L 7q701.o1 A'INt %.19Ut 527.17J31 3/Iro1 702iY3i SS..M.76 � 5w1Ae 971JM�� 707.b11.61 LI.W A.7WJ! �0,31111 9/I/U9 9➢L7W3t BI.q43i � . Ll/10 53.Ot<k AY3.3V ' . 9/t/10 I.OfqON.l� IT.1�391 .xin i u.s�e� �uw.� snni i.00.s�sa .�a�au v�nz om o.m wvu om o.ro LI/17 Qpp O.m 9.�1/1� O.pp � Lll7� ppp � 9/UI� OAD . yp YI/IS UAO 0.00 � w�ns noo aro v�na am a� 9v1A6 4pp Q� LMS.W31 Q00 FROM : MWNISOFT PtIOhE NU. : 1 563 472 G.561 5ep. �o :�7o br:ei:rtil r�� . . RESENVF iDD GLdA11TI0M DOLLAR 11NONNT � ..v.�a.ov�wa.e�e�.....� � MAXIMIM AMIMIAL DEYT !ElVICE �,o�s,an.�s � 70.00L 617,000.00 - 1.25 � AVEMGE �IIMML 1,W0,320.Oi "....m.......�.�.�..+.e�.. . � DATED WIfE 10/01/% DELIVERT GATF /0/03/qb Y1EL0 GLCyy�T10Mi as...sa�ve..��siat�Ysaar----'. iAR AlIOIWi OF i01D4 ' 8,170,000.00 . VltlS ACCRUED IMiENEW . 2.]67A5 � � , lES! IMStYANCt PRdILN � flpy,ppp.pp) - . LESS SIRETT lOIO MIEMIUI 0.00 LESS.WDERWRITER•C 0[fCG1YIT O.pp . LESE COLTS OF 17EWMCE O�pp LESS OfSCOUMT/PLUC V�ENIUI (64,973,05) ers oa...ve�em..wr��W a iMGET AM017IT ��q9e �.� TRUE IMTEREtT C04T (TIC) S.SMS991 '�tifii'LO�Yi4YRlYt6irlYfiY�t . TM�I IYTEREST 4.675�610.52 � . PLUi 1.1OEiH�ITER�S DlSCOWT Qs�p�p.pp , ClU4 DIfCpMT/LESS IRENJI�1 y.�q7s.ps .vmvass�esaresassawssu�s.eea TARGET AAqtMT <,Q36�QSS.ST IIET INTFQEST COST (YSC) 5,�j� BOMD TEARS � � �� 11VERACE LfFE �p �K� �VfIGGE COUPOM S�26i5096 DEN011(MAf I OY S�OOO COMPOUMOIMG . S� . � WY aASli 30/360 � t � �f�G'�'�� dg10 mllbig9 Msq:S. DEAN SALE Di�TE 09/1G/96 AX STA'PUS ON TAXABI,E ISSCTE AM'�` 168, 000, 000.00 STATE CA /SP/E AAA�AAR ISSUII2 NAME SAN DIEGO CO. REG —A REDIT SUPT At�AC DTD 09/O1/96 FsOD1D TYPE REVS • R MANAGER SMYTH BARNEY INC AUE 4/1/97-08 IN ADV PUBLIC FINL MGMT; NEtdPORT ' FIRST CP:7 04/O1/97 EGAL OP ORRICK HERRINGtTON �T;S.F. � FTRST SETTLE 10/02/9G DEPOSI'It7RY c7TC gpp]{�g�y CALLAHLE 4/1/06 @ 102§� �p Zppp �g=�y pg=C=�,k pgZCED 9/16 SYNDICATE: LEHI�SAN,MIItRILL,ARTEMIB,$AMIJEL gA1QgEZ MATY AMOUNT(M) CPN YLD PRICE PD1TY AMOtJNT(M) CPN YLD PRICE 1997 G245.0 3.6 100.000 0 12655.0 6 .200 1993 1z790.0 4 .10 100.000 2008 20760.0 5 5.300 1999 13315. 0 4� c 4.300 2a0� 17580.0 A.40 4.800 2001 14495. 0 4� 2 4 .600 , 2002 15145. 0 5' c 4.700 2003 15940. 0 4 .70 4.800 �004 1_G90.0 434 4.900 � �005 12545. 0 G 5.boo 2006 18540. 0 6 5.1�0 <PAGE> FOR C�SIPS Paqe 1 of 2 Bloo,�perg•q�l rig7ro rc;arved. Frmkivrt:69•920410 Nony Ka�g�2-S21-3000 Lorxton:V?•3iQ•7500 NrN Yark;Zi2•318•2000 V^inceton:EOi•279•3000 Singapore:226•I000 sra�y:z-n�-e600 Tekyo:3-3Z07•8400 Ysshington oC:202•434•7800 � G177•27-0 23•Scp�96 1c:00:46 . 11 ��J�� dg10 mubiga Msq:S. DEAN SALE DAiE 09/09/90' AX STATUS NON TAXP.BLE ISSUE A1'/if 42,9�4,777.85 STATE CA /SP/F AAAr/pA71 ISSUEP. NAh7E ESCONDIDO H.S.D. REDIT SUPT P�IA DTD 09/O1/96 BOND iYPE GO ULT R MANAGER PAINEWEBBER ZNC DUE 11/1/97-10 FIRST CPN OS/O1/97 AL OP BOWIE ARNESON�KADI ET pi, FIRST SETI'I,� 09/25J96 DEPOSZTORY DTC BOOK—ENTRY CALLABLE 11/1/06 @ 102� DTP 20��. AWARD RECPIVEp 9/12. RFINAI, pRTCING* 'PY AMOIINT(M) CFN YLD pglCg LfA'iry[ AL�pq�(M CPN YLD PRICE 1997 100. 0 3.80 100.000 2007 2440.0 5.35 100.000 1998 320.0 q,p5 100.000 2008 2$75,0 5� z 100.000 1999 360_0 9� a 100.000 2009 3370.0 5.E0 100.000 zoOU 520.0 4 .40 100.000 2D10 3925.0 5.70 100. 000 2001 705_ 0 4.55 100.000 2002 910. p 5 .70 100.000 2003 1145. 0 4 .85 100.000 2004 2410. 0 5 300.000 IZ00� 1715. 0 5. 10 100.000 z006 2055. 0 5.20 100.000 <PAGE> FOR CUSIPS Page 1 of 2 Blecn�tcrg•,U rig,y;s reccrved. Frankfurt:69-920G10 Nonp Korg:2•527•3000 �ondon;.111•330•750� Mew Yark:212•318•2000 Prirceton:609•279-3000 S;rrerpora226•3000 Sydney;i•777•9600 iokyo:3•3201•6900 Vaihington DC:20Z•434-1B00 ct77-27-0 2S•sep•96 1<i07,�7 �,r�� ` e��"' 8 dgi0 roUblg2 Muni C p R C :sALt: llA'1'L: 09/19/9G AT ],3:00 AX STATUS NON TAXABLE; IS�+UL: AMT 14, 200,Q00.00 STATE CA DJSP/�' . AAPr/ppp ISSUE.R NAME TULARE REbIT SUPT MBIA DTD 09/O1/96 BONI') 'I'YPE RLVS R MANAGER STONE & YOUNGDL•RG DUE 11�l 5 j y'/-12, 15,21 IN ADV BARTLE WEIJ.S A:;SUCIAT •LS FIRFT CGN 05/15/97 EGAL OP BROwN & WOOD; �ti.l . FIf:F1T tiE1TLE 09/30/96 AYING ACT FIRST TRUST CA S.F. DF..LK)hT7Y.)HY DTC 800K-ENTRY ERP YES CALLADLE 11/15/06 @ 102$, 11/;5�07 Q 101k, 11/15/08 i THERETFTER @ PAR. COVER:SMITH HTRNEY:5.749k DOLLAR HZDi99 MATY AMOUNT(M) CPN YLD pgICE MAT7C AyOUNT(M) CPN Yt,D PRICE 19S3I 1G5.0 5.4U 3.800 2007 470. 5.q0 5. 7Uu 19°)tt JO5. 0 5,4p 4. 050 2008 495.0 5.4G 5.400 19`�� 3�5,0 S.4o 4.300 2009 520.0 5� t 5.5UU 2000 3]0.0 5.40 4 .500 2010 550.0 5. 60 5.600 20u1 ;f'.io. o 5.40 4 . 650 20I1 580.0 S.?o 5.700 200:+ 3G5. 0 5.40 4 . 750 2012 615� 0 5.70 5. 75f� 2407 38E>. 0 a,q0 4 , 850 2015 206U. 0 5.7C P,.t�oD 20U1 400. 0 5.40 4 .950 2021 5410. 0 53< NRp � 200� �17.U. p 5.a0 5 .050 i 200(±,. _ 445. 0 ;. 40 5. 150 I <PAGE> FOR CUSIPS,CONCES5IONS P�,qa 1 of 2 Btoa�h•rg�r�l� r{y��., ��i��rved. frpnkfurt:69-920G10 Hany Kong:2•527•3000 london:171•330-75UU 6cu Yor4:17z�378•2UU0 '�"�+��'��+:'+�� 779�30W Siny�pore:226•3000 Sytlney;2-7T7•B600 7okyo:S-1201•6900 Vmhington ::c:7'v7 G3h 7K00 C177-27-0 2S�S�.y�46 74:u5:Sis 6 �� ` . dg10 mubig3 Msg:S, p�W SALE DATE 09/12/96 T 12:35 AX STAT[JS NON TAXABLE ISSUE AMT 34,300,000.00 STATE CA /SP/F AAA/AAA SSSUER I�TAME MT. DIASLp t7N=F SD �1 IT SUPT pM$AC DTD 10/O1/96 BOND TYPE SPL TAX R MANAGER PRUpENTIAi, SECURITIES DUE 8/1/97-16, 19,26 IN ADV GOVT FINL STRATEGIES FIRST CPN 02/O1/97 EGAI, OP �7pNES I{AI,L EiIES, & WHITE FIRST SETTI,E 10/01/96 AYING AGT FIRST TRUST CA DEPOSITORY DTC HppK_Ebl'I+Ry CAI,LABLE 8/2/06 @ 101�, 8/1/07 E A.I.D. TfiIItEA1�TER @ ppR, COVER_LEf{t�N•5.799c MATY AMOV2�(M) CPN YLD PRIC& MATY AMOIJNT(M) CPN YLD PitTCE 199� 500.0 8 3.800 00 1280.0 .2D 5.200 =99$ 3Q5.0 8 4.100 2008 1355.0 5.30 5.300 1y99 755� 0 8 4.250 2009 1430.0 5.40 5. 400 2000 225.0 8 4.500 2010 1510.0 5� z 5.500 200= 240. 0 8 4,7y0 2011 1595. 0 5.60 5.600 20C2 245. 0 8 4.80D 2012 1695. 0 5.60 5.650 � 2003 1045. 0 8 4 .900 2013 1795. 0 S.GB 5.700 2D04 , i090. 0 8 5.000 2014 1910.0 5.70 5.750 2005 11G0.0 7.30 5.100 2015 2025.0 53� 5.800 200G 1215.0 5.10 5.100 2016 2145. 0 53c 5.800 <PACE> FOR AMTS,COUPONS,PRICES Page 1 of 4 7r?ncet n:609479h3000c�ervsdn9aporr 226L30 OgZ�Sydney 2-777Q860021-300�kYo�3 3 01,890Q30' Waxhinpt o DC:202-43L-1800 G177•27-0 23-Sep-96 iC:0i:1b HEIVDERSQN CAP TALPARTNERS,INC. �.�,� COlO[UN[!1'DYVBLArMfW['OA'I7�CfEY�T.II�fO TAX�r r ev��1�ON it87i$►V{1E iONQS�� i99i taMo car Rm�vs.or�r�� naea�nn�r. QDQ� ors:.,..4i �C.•3:�i Cali fiw�Omrr: 4-I�tet,�rn.zme• ra.. ' 'rf neesec[',.��a� �e�im Orutrt(1NIf(r �� . � AAxa: �� • tJsr�r�sls�e�•/StM R��1Lt�a t 8*p�c'ndStlWn�wr. ,a�� . "� r�we .r� 1997 4.J0 9i. N�t 199� 4.7 � � � � -U4 � 1 9l.61� -1l4 ?ml S_ .� -1/4 � �.� -1/4 l� S. ql .U4 lOAd . !. .�/ 11 a.� 6. . 11 _Us 1 4 .7J7 .1/4 - 14�0at 7A17 ' i.SO T3 97. 7 -]/4 l 6.7J .06� -U4 �s�g -- �.-e� FROM : MUNISOFT _ PHOhE N0. : 1 503 472 6361 _ Sep. 24 1996 61:34PM P3 �(�(:AMN Muka�i�cA,luwrcd Groonl Oblip�tion -�R�oa�w Yk{d Curwa hnp!lx�vw.bndo-onliuc.00m"fgbhne 1997 4.00 I 20D2 9.@0 I 2007 5.30 1 2012 5.70 1998 4.30 � 2003 9.90 � 2008 5.40 I 2013 5.75 1999 4.56 I 2004 5.00 I 2009 5.50 � 201� 5.80 2000 C.60 � 2005 5.10 I 2010 5.60 I 2015 5�80 2001 4.70 � 2006 5.20 � 2011 5.65 ( 2016 5.80 i-------------- 2026 5.90 --------------- LAST S2 WEEKS ------------ ----------------I rfuNxs � 9 oF aov�r I i MUNZ GOV 6 I HIGH LOW AVG SDEV � NICH IAW AVG SDBV � ------------------------------------------------------'----__"I � 3 YR 4.50 6.41. 70.2 � 4.65 3.90 4.29 0.19 I 82.2 64.1 73.2 3.9 � I 5 YR 4.70 6.60 71.2 I 5.00 4.10 4.58 0.22 � 84.1 69.9 75.7 3•2 I �1Q YR 5.20 6.82 78.2 � 5.50 9.60 5.09 0.22 � 89.8 74.9 80.8 3.2 I 130 YA 5.90 7.03 83.9 i 6.30 5.30 5.66 0.24 I 94.6 83.7 88.9 2.8 � --'-----------`-----------------------------------------------^" Bid side scale asswainq par bonds. RChtri1 tA MerkEt Di¢Cst . FGIC Insured Revenue Yield Curves RE INS Septembex 23� I996 FOR FVLL $C,ALE INFOi2MATION HIT PAGE. Mat. Today Yeeter- Last Last Last -------- day meek Month Yeac Mex Min avg SDev 1497 4.00 4.00 4.00 3.90 3.75 9.10 3.50 3.87 0.12 1998 4.30 A.30 4.30 4.20 3.95 4.50 3.70 4.16 0.15 1999 4.50 4.50 4.50 4.40 4.10 9.70 3.90 4.36 0.18 2090 4.70 4.70 4.65 4.55 4.25 4.90 4.05 4.51 0.2p 2001 4.80 4.80 4.75 4.65 9.40 5.05 4.15 4.6d 0.21 2002 4.90 4.90 4.85 4.?5 4.50 5_20 4.25 1.75 0.22 20Q3 5.00 5.00 4.95 4.85 A.60 5.30 4.35 4.85 0.22 2004 5.10 5.10 5.05 4.95 4.70 5.40 4.95 4.95 0.22 2005 5.2Q 5.20 5.15 5�05 4.80 5.50 4.55 5.05 0.22 2006 5.30 5.30 5�25 5.25 4.90 5.60 9.65 5.15 0.22 2006 . 5.50 5.56 5.45 5.35 5.05 5.80 9.90 5.38 0.21 2011 ��-�5.70 5.70 � 5.20 6.05 5.15 5.63 0.21 2016 .9� 5_90 5.85 ( . 5.35 6.25 5.30 5.82 0.23 2021 5.95 5.95 5.90 �BO 5.45 6.30 B.35 5.98 0.24 2026 6.00 6.00 5.95 5.65 5.55 6.35 5.90 5.93 0.24 * Caltulatione are based on number of years from today, nok actua2 meCurfty. AE SNS September 23, 1996 1997 4.00 I 2002 4.90 I 2007 5.40 I 2012 5.75 1998 4.30 � 2003 5.00 I 2008 5.50 I 2013 S.BO 1599 4.50 I 200i 5.10 I 2009 5.60 � 2014 5.65 2000 d.70 I 2005 5.20 I 2010 5.65 I 2015 5.90 2001 4.80 I 2006 5.30 � 2011 5.70 � 2016 5.90 I----'--------- 2026 6.00 _____'_-------- LA3T 52 07LL1(3 ___..-.._______ � ___..__'_^__'__'_� MUNIS i B O! aOVT I � MUNI GOV 8 � RIGH LON AVG SDEV � HIGH LOW AVG SDEY � ______________.._____________________�_��.._...._________� � 3 YA 4.50 6.41 70.2 � 9.?0 3.90 a.36 0.18 I 84.1 64.8 74.4 3.7 I I 5 YR 4.80 6.60 72.7 � 5.05 4.15 4.64 0.21 � H5.1 70.7 76.7 3.4 � I30 YR 5.30 6.82 77,7 I 5.60 4.65 5.15 0.22 I 89.8 ?5.6 81.8 3.4 ( F .i Desert Redevelopment Agency Desert Rose Bond Issue Series A &Sefies B i19,050,000 Series A Amount Total Proceeds $10,753 127.11 Uses of Proceeds Interest Account $3,687.11 Reserve Fund 1,088,000.00 Cost of Issuance 116,455.03 Insurance Premium 161,000.00 Project Fund 9,383,984.97 . � Total Uses $10,753,127,11 Escrow Agreement Funds Analysis � FUND NEEDS 8onds Outstanding as of Nwember 12, 1996 $12,300,000.00 Bond Call October 8, 1996 700,000.00 Interest Due October 8, 1996 57,409.56 Interes[Due November 12, 1996 (@ 12%) 141,53424 Total Funds Needed for Escrow $13.198,943.80 FUNDS AVAILABLE Series A Project Fund $9,383,984.97 Special Revenue/ Pledge Fund 657,483.03 Home Sales Proceeds Loan Account 1,194,199.75 Agency Cash to be Deposited in Escrow 1,963,276.05 Total Funds Availabie tor Escrow 73,198,943.80 Series B Amount Total Roceeds $8,009,352.00 Uses of Proceeds Imerest Account $2,367.05 Reseive Fund S17,000.00 Cost of Issuance 80,984.95 Insurance Premium 109,000.00 Project Fund 7,000,000.00 Total Uses $8,009,352.00 \123r3�d rbon d.wk3 10/07/1996 CSty of Palm Deeert PM - 1 � � � POATPOLIO MABTSA 8UM4ARY ^ CITY BSPTEMBER 30, 1996 ACCRUAL � 11VSRA08 __'YIBLD TO MATURITY"' PBACSNT OF AV&IUtlB DAYB TO 360 365 INVSBTt�liTB pppl( VALUB POATFOLIO TSAM M1ITUAITY BQUIVALBNT BQUIVALSIIT _'____"_"'_"____"_____"_'_'_"'______"'_'_'_'_"_____'____'_""___"_'___""____"'_"__'_""_'__"""'_""'____""'___' Fidality Treaaury Pool.......................; 4�015�523.00 5.01 1 1 S.OB9 5.160 Managad Pool Accounts........................i 17�396.00 0.02 1 1 6.738 6.806 Locnl 1lgency Inveetment Punde................5 16,016,609.92 19.82 1 1 5.510 5.587 Pederal Agency Ieeuea - Caupon...............5 5,202,616.68 6.44 1�163 869 5.583 5.660 i+ederal Agency Ieauea - nSecount.............i 3,600,526.26 6.a1 367 68 5.509 5.586 Treaeury eecurltiea - Coupon.................= 32,902,d17.29 60.72 756 530 6.063 6.167 Traaeury eecurltlee - Discount...............i 222,059.23 0.27 1,271 502 6.162 6.268 CSty Lonn to RDA.............................i 19,000,000.00 23.51 2,192 1,736 5.662 5.538 """'_'_""""'_"""""'""""""""""'_"_""'_""'_'_"_"""_ TOTAL INVESTHHNTS and AVBAA688.............5 80,80C,964.18 100.006 916 6B3 5.7096 5.789t "'�'�"'�'��""""'v"""e�va��a�se�s�""""�"�"""'�""""'�"" CF89 Pa6ebook/CheckSng - No Yiald Totele..........; 6�737�189•62 1.862 1.BB8 (not included Sn yleld calculatlone) ACCIued Inteieat at PuiChaae.................f 171,726.73 � _"""'_""__"'_'_"""""'_""_'__"'__'_""""'___'_""""_'_'_' TOTAL C�189 and PUACBA88 INTER&BT.............; 1,908,916.33 ...:..a.....::................................................................. TOTAL CABH and INVS9TMENTS.................5 85,713,858.53 ��.�...�.......ae:.e.�:�:........a....�ea��""""a��""'a�.�..�«��.m... MONT9 EliDING PIBCIIL Tdl'AL EARNIIPG6 68PTSFIDBR 30 Y&AA TO DATS Current Year S 396,567.39 ; 1,226�762.06 AVEAAGS DAILY HALANCB = 85�289�800.66 S 86�565�892.55 EFFECTIV6 AATE OF R¢TURN 5.66\ 5.621 Tha Snvaetment porttollo oT t�a City oL Pnlm Deaezt compllee with Ste Inveetment Paul S. GSbeon PollCy and t�a Callfornia qovernmant COEe eaCtlonB p�it�ining Lo t�a Saveatmant Treaeurer of local agency Luntle. PenCinq eny futura ectiona Dy t6a CSty Councll or eny unforeeaen ceteetrophy the City hea en edaquata ce�h Llw to maet ite wcpenQltuta raqulzameate foz tha naxt elx montha. T�o moath-enA merkat valuet oATB wara obtainetl Irom Firet Truet anG IDC DataLaaC prlcing ��rv1ce. 10/07/-996 PM - 9 ' "` City a! Palm Deaoit � �IT7[ INV881TT�NT ACTIVITY BUMMAY ACCRUAL ' 88PTF.FIDBA 1995 thraugh BEPTEI�&R 1996 YIBLD TO MATURITY MANA�ED NUM98A OF NUlIDBA OP AVBMQE NONTH NIR�BR OP TOTAL 360 365 POOL 68CI1AITI89 88CURITIEB AVBAAGP DAYB To SI70 YBAR 88CUAITIHB INVBST&D &QUIV &QUIV AATB PURCBA38D MATUA&D/80LD T&AM MATIIRSTY '_'_'____"_"""_"'_'_'_"___'____________'_"__"_____"""'__'____'_"__'_"_____'_'_______""""___"'__" Saptambar 95 56 90,255,009.56 5.773 5.853 5.708 6 3 776 663 octo6er 95 � 56 65,711�591.57 5.750 5.829 � 5.634 8 8 825 695 NovamGar 95 56 62�020,526.15 .5.737 5.817 5.700 1 3 865� 713 December 95 68 71,636�895.19 S.fi89 5.768 5.602 18 6 905 752 January 96 66 86,484,612.25 5.662 5.720 5.162 2 4 766 618 Februery 96 67 75�973�193.33 5.636 5.702 5.135 6 11 826 669 March 96 69 75,962,211.51 5.59d 5.676 5.076 1 3 827 65C Apr11 96 78 �5,277,800.06 5.553 5.630 5.171 1 ] 835 662 May 96 83 78,569,729.59 5.571 5.648 5.175 7 3 853 663 June 96 87 86,019,131.77 5.665 5.766 5.177 5 1 858 670 July 96 87 86,789,752.15 5.688 5.767 5.138 1 1 870 658 Auguet 96 79 81,992,276.25 5.665 5.726 5.096 0 4 871 657 Saptember 96 83 80�806,946.18 5.709 5.789 5.160 5 3 916 683 ""_'_"___'_""___""_"___"_""""""""'_____'_"""'_"'__"_""""""'_____'______' AVEAAGSs 72 S 76,017�697.96 5.670i 5.766i 5.301t 5 6 865 672 .a:.zez:_....�..:.:�....::........:........:............:.:.:_...:.:.::...��......�.a....e..�:a�.. Z 10/07/1996 � PM - 10 ' ' CSty oL Palm D��ert �� =py DIeTRIHUTI06 OF INVEBTI�NTB HY TYPS ACCRUAL - BSPTEI�IDBA 1995 thrauqh 88PT8t�8A 1996 MONT6 '___'_'___'__""""""" "___'__ TYP88 OP IPV887T78PT9 ""_'_'__"""""""""""____"""_'_"' EliD YEAR 8CD BCD LAS LA2 LAS PA1 PA2 MTN BAC CPI CON PAC F.1D TAC 'PAD I�1 MC3 ""'_______'_____'_"_'_""_"_"""_"""_"""_"'___""""""'_""""""__"____"'___""'_"""""'_"_'_____"'_' �SaptemDer 95 16.6 9.1 0.0 13.9 0.8 27.1 5.7 27.0 October 95 17.5 6.9 0.0 10.8 0.8 29.0 6.1 28.9 November 95 18.5 7.0 0.0 8.2 0.9 30.7 6.1 30.6 December 95 16.1 5.9 0.0 5.7 7.3 0.8 33.3 3.5 0.9 26.5 January 96 13.6 6.9 0.0 20.1 6.2 0.6 28.2 3.0 O.B 22.5 February 96 13.2 6.0 0.0 26.3 6.9 0.7 18.9 2.0 0.9 25.0 March 96 13.2 7.6 0.0 25.1 6.9 0.7 18.9 2.0 0.5 25.0 Aprll 96 13.3 7.2 0.0 24.9 7.0 0.7 19.1 2.0 0.5 Z5.2 Mey 96 9.6 5.2 0.0 25.3 '6.7 3.8 2Z.7 2.0 0.5 26.2 June 96 2.9 6.6 0.0 20.8 6.1 9.2 32.7 1.B 0.5 22.1 July 96 4.6 0.0 19.6 6.2 12.3 32.7 1.B 0.5 22.6 Auguat 96 7.9 0.0 20.5 6.0 9.7 31.6 0.3 0.5 23.2 9eptem6er 96 5.0 0.0 19.8 6.0 4.2 60.7 0.3 23.5 AVEAAGES 10.38 6.3E 0.06 18.58 5.16 3.56 28.1k 2.7\ 0.6\ 25.11 """""....�.�'�"""""'.�"""""�'��"""�"""""'.........."""""�'��""'�'�'�"""'�"""""� eCD - CertlLlCetes oL Depoalt - Hank eCD - Cartlflcetac Of Dapaalt - 8 6 L LA1 - Pidellty Treacury Paol L112 - Meaaged Pool Accaunt� LAS - Local Agency Inveetment Punde PA1 - Pessbook/Checklnq Accounte PA2 - Caeh wlth Truetee -Piret Truet MfN - Medium Tesm Notee BAC - Hankere Accapiancae CPI - Co�rcial PePq,� - jptBiB9t BYPISP9 COM - Co�rcial Pepes - DSacount YAC - FeCeinl AgenCy Is�ure - CoupOn PAD - Fedatal 1\gapry I98Net - Dl/ConRi TAC - Treseury 8xurities - Coupon TAD - Treaeury Becurltiee - Dlacount !ID1 - Trsaeuxy eecuritiee - T-HSlla NCS - City Loen to RDA 3 10/07/1996 PM - 11 ' � Clty oL Palm Duast �I79' SNTER88T SAANIP68 BUIRdARY ACCAUAL � 88PTSMHSR 30, 1996 MOIITH BNOIAG FIBrar. 88PTSt�BA 30, 1996 YSAR 'N DATS CD/Coupon/DSecount Invaetmantr. � Inte=e�t Col�ecteQ S 286,059.OB S 610,593.93 PLUB AccruaQ Intereat et 8nd of ParioA 2,308,949.40 2,108,969.bo L888 Acczued Intereet at eeglnning oI Par1aC ( 2,091,043.69J ( 1,781,092.61) """"""""'" __""'_"""__" Interaet Serned durSng Period S 303,966.79 938,650.92 ...a..a........... ..:e.v..ma:ssv.. AD,7U6T6D by Premlume and Diecounte , -3,670.13 -8,796.19 A�JUSTSD by Cepital aaine or Loeaaa 0.00 0.00 """""__""_' _"""_"___"'_' Sarninge dusing P�r1oQ 300,696.66 S 9Z9.654.73 """...."""" "..�"""'..."' Mortgage eackad securitiee: Intereat Collectad � 0.00 ; 0.00 � PLU3 Accruad Intexeet at EnA of Perlod 0.00 0.00 L898 Accruad Intereat at 8eginning of Period ( 0.00) ( 0.00) ___"""""""' "_""'__'_'"""__ Intereet &arneG auring Pariod S 0.00 0.00 ADJUSTBD by Premlum8 and DlecOunte 0.00 0.00 ADJU9T8D by Capital Gnina or Loeeee 0.00 0.00 . "_"""'_""_" "_""'__""""' Earninge duzing Period 0.00 ; 0.00 ....."""'...... .:.s""'rr....... . Ce971/Checking Accounte: Zntereet Collected S 0.00 S 291,767.92 � PLUS Accrued Interest at &nd of Pez1oC 545,653.28 565,653.28 LESS Accrued Intereet�at Beginping of Perlod ( 669,580.55) ( 540�313.89) - """'_""""" """""_""'_" Intereat SarneC Euring Perlod = 96,D72.73 ; 397,087.31 """"'....""' """"'�"'��"' TOTAL Intereet 8arned during Pexiod ; 400,037.52 S 1,235�538.23 TOTAL AJuetmenta from Pxsmiuma end Dlecounta i -3,670.13 f -8�796.19 TOTAL Cepital Galne oc Loesee i .� 0.00 = 0.00 """""""""" """"__'_'__""_ TOTAL Sazninge tlurinq R�r1oC 3 JB6,567.39 3 - 1,226,762.06 .a...........e.... ........r....""' � 10/07(1996 City of 2elm Deaer: 98 - 1 ' •-'IUM/COIMtI88ION/DIeCOUqT AMORTIZATION BC�D'� CITY 88PTElIDBR 1� 1996 - eEPT8I�ID8R 30� 1996 ACCRUAL PA. - PAEMIUM� CO. - COtRAIBBIOli� DB. - DIBCOUNT ACCUMULATBD I88USR BTATED PACB VALUS ORIGINAL C09T AMOATIZATION BNDINO AMORTIZATION TO HBCIH BAL. AMORTIEBD 8ND eAL. IINBT. - FUND i 3UT8 MAT. DATB C11LL DATS AMOUNT e00R BAL. Bfi6IPAIH6 DATS THIB PBA. T8I8 PBR. � THIB PSA. _""_""""_"_"""""_"""""""_""""'__"'_""_'_"""_"""""""""""""""_'_"'___""""""""_"' Faderal aome Loan Bank 1,000,000 1,000,312.50 312.50 1�000,076.86 -212.99 99•s1 -xa.57 76.86 16003 I-91-1B 5.620 O1/02/1997 / / FaCerel Home Loen Benk 1,000,000 1,�27,181.50 27,187.50 1,022,671.30 -6,226.63 22,960.87 -689.57 22,671.30 16005 I-91-1H 6.285 07/28/2000 / / BUBTOTALS 2,027�500.00 2�022�566.16 -6�639.62 23,060.38 . -516.2d 17,500.00 22,566.1d "_""__"___'_"'_'__'""_""'_""""'_""""'_"""""'__""""""""'_"""" Federal National Hostga 1,000,000 1,006,530.00 6,53U.00 1,002,570.16 -1,756.39 2,773.61 -203.65 2,570.16 14001 I-91-1H 5.650 10/20/1997 / / Fatleral Bationel Mortga 1,000,000 1,092,030.00 92,030.00 1,071,612.63 -18,677.34 73,552.66 -2,160.23 71,612.63 16002 I-91-1H 8.650 07/12/1999 / / � Pederal National Mortge 1�000�000 1,130�000.00 130,000.00 1�105�885.75 -21,611.06 108�388.96 -2�503.21 105,BB5.75 16004 I-91-1H 9.050 06/10/2000 / / SUBTOTALS 3�226�560.00 3�179�868.34 -41�846.71 186�715.23 -d�866.89 226,560.00 � ' 179,868.36 """"""_'__""""'_"""""""'_"___""""""""""'__""'_"""'_'_"___" United Statee Traaaury 6,000,000 3�983�750.00 -16�250.00 3�998�723.49 16,338.26 -1�911.76 637.25 -1�276.51 16000-CITY 6.500 11/30/1996 / / Unitetl Stetee Treaeury 2,000,000 1,996,875.00 -3,125.00 1,999,451.75 2,467.11 -657.89 109.64 -568.25 16001-CITY 6.750 02/2B/1997 / / United Statee Treaeuxy 385,000 391�978.13 6�978.13 387�357.68 -6�169.16 2�828.97 -671.49 2�357.68 16006-91-1B 6.875 02/28/1997 / / � Unita9 9tatee Treaaury 291,000 294,182.81 3,182.81 292�692.77 -1,338.00 1,844.81 -152.06 1,692.77 16005-97-1B � 6.000 08/31/1997 / / ' United etatae Treaeury 486,000 690�655.00 6�655.00 688�652.37 -1�798.28 C�856.72 -206.35 6�652.37 16006 A-91-1H 5.875 OB/15/1998 / / � Unitetl Statee Tzeaeury 1,000,000 1,036�863.70 34,863.'70 1,017,991.69 -6,153.00 28,690.70 -699.21 27,991.69 16007 I-91-1B 6.375 O1/15/2000 / / Onited Statee Treaeuzy 465�000 C83,798.44 38,798.66 675�298.63 -7,632.68 31,165.96 -867.33 30,298.63 16008 A-91-1H 8.000 08/15/1999 / / ' UnSted etatea Traaaury 1,OU0,000 1,056,250.00 56,250.00 1,036,907.89 -17,368.4R 38,881.58 -1,973.69 36,907.89 16009 I-91-1H 7.875 06/15/1998 / / United etatee Traneury 1,000,000 1,066,250.00 dfi,250.00 1,033,150.29 -11,763.01 36�686.99 -1�336.70 33�140.29 16030 I-91-1B 7.125 30/15/1998 / / � Unitad stataa Treaaury 190,000 188,367.19 -1,633.81 188,506.70 110.19 -1,522.62 27.3Z -1�695.30 16030 R-94-2 6.375 03/31/2001 / / United Stetee Treaeuxy 500,000 695,703.13 -4,296.87 {96,065.00 489.97 -6,006.90 71.90 -3,935.00 16031 R-91-IA 6.375 03/31/2001 / / S 10/07/1996 City of Palm Deeert . A9 - 2 ' ' -MIIIM/COI4AI88ION/DIBCOUIiT 1�MORT29J+TIOP BC�I' CIT7f 88PT8lID8A 1, 1996 - mEPTEI�SR 30, 1996 ACCAU717. PR. - PRSMIUl1� CO. - COD4AI83ION� DS. - DIBCOUPT ACCUMULATBD I88UBA BTATSD F11C8 VALVB ORSOIPAL C08T AMORTIZATIOF EIiDIFO 11MORTSZATIOH TO 8S6IN HAL. 11MOATIZBD 8ND BAL. IPVST. - FUND B 141TB MAT. DATB CALL DATE AMOUl1T HOOA HAL. BBGSNNIB6 DATB T6I8 PBR. THIB PBA. THIS PSR. ___'_"""_""'_"___"'__"___"""'_""'__""""""""""'_""""""_""""_"__"'_"'__'_"__'__"""""""'_" Vnitatl 8tatae Treacuty 600�000 396,562.50 -3�637.50 396�851.99 231.98 -3�205.52 57.51 -3�168.01 16032 R-Bd-1-R 6.375 03/31/2001 / / Unitetl etates Treaeury 250,000 267,851.56 -2,168.64 268,032.69 SC6.99 -2,003.45 35.96 -1,967.51 16033 R-92-1 6.375 03/31/2001 / / Unitetl etatee Treaeuxy 2,000,000 1,998,160.00 � -1,860.00 1,998,453.40 236.96 -1,623.06 76.66 -1,566.60 16034-CITY 6.W0� OS/31/1998 / / Unitatl 9tatee Tree�ury 2,000,000 1,965,625.00 -36,375.00 1,971,945.07 6�,778.59 -29,596.61 1,561.68 -28,056.93 16035-CITY 5.125 03/31/1998 / / United States Treaeury 3,000,000 2,972,363.75 -27,656.23 2,975,783.05 2,375.60 -25,280.65 1,063.70 -24,216.95 16036-CITY 5.875 OB/15/1998 / / United Statee Treaeury 3,000,000 2,916,9Z1.88 -85,078.12 2,926,225.80 6,b76.d7 -78,651.�0 2,87�.50 -75,776.20 16037-CITY 5.125 11/30/1998 / / United Statee Treacury 2�000�000 1,979�375.00 -20�625.00 1�983�207.61 2�667.27 -17�977.73 1,185.36 -16,792.39 16038-CITY 5.375 11/30/1997 / / Unitetl etatee Treaeuxy 2,000,000 1,999,06].50 -937.50 1,999,273.69 165.76 -791.76 65.25 -726.51 16039-CITY 6.000 OB/31/1997 / / � UniteA 3tatee Tteaaury 2,000,000 1,971,562.50 -28,637.50 1,972,522.87 0.00 -28,637.50 960.37 -27,{77.13 16o62-CITY 5.125 02/28/1998 / / United Statee Treaeury 2,000,000 2,010,000.00 30,000.00 2,009,213.97 0.00 10,000.00 -]86.03 9,213.97 16063-CITY 6.500 Od/30/1997 / / United Statee Treaeury 1,000,�00 1,007,031.25 7�031.25 1�006�395.26 0.00 7�031.25 -fi35.99 6,395.26 16046 I-91-SH 6.875 03/31/1997 / / United Statee Treaeury 2�000�000 1�991�406.26 -8�593.76 1�991�716.63 0.00 -8�593.76 308.19 -8�285.57 16065-CITY 6.125 08/31/1998 / / BUBTOTALS 32,916,535.58 32�902�617.29 -16�009.79 -66�673.71 1,891.00 -28,6B4.62 -42,582.71 ___""'_"_""""""""""""""""_""""""""""""""_"_"""_""""""' 10TALS OP INV&S'ft�ffiNi'S "'_'_________'___________"'_'__""""'____'___'___'___'_""""_'___"_______________"_ WIT9 PASMIUM 6 DISCOIINTS 225,595.58 -62,293.68 -3,670.13 = 38,170,595.58 38�306�831.77 163�301.90 159�831.77 :'........:.�:.:"."��'��'�'.............:.....""""""'..................""'.......... � SOi07/1996 A3aaaome�t Diatrict 834 PM ' Z � ItN&87TBNT POATPOLIO DHTAILd - I[NLBT!ffiPf8 � CITY 9EPT8lID8R 30, 1996 ACCRUAL ItN&8'fMRIPP AVSAA08 PUACHA88 . BTATSD -'- Y7T1 "- MATUAITY DAYB IPUt�&R I88UBR HALANCB DATE HOOR VALUS PACS VALUB MARR6'f V7SU8 RATE 360 365 DATB 1V MAT FIDBLITY 71iEA8UAY POOL 12027 A Fidelity Inetitutional Caeh 66,862.00 66,B6S.00 64,86Z.00 5.160 S.OB9 5.160 1 12036 Fidallty Inetltutionel Ceeh 109.00 109.00 109.00 4.300 6.261 d.300 1 '_'_'_"""_'__' _'_"""""' """"'_"_' "'__""""' ""'_ '__"' """ &OHTdfALS and AVERAGBS 267�967.13 64�971.00 66,971.00 66,971.00 5.088 5.159 1 '_""__'_"""_"""'_""""'_'__"""""""'_"""""'_"""""_""""""""""_"_ TOTAL INVBSTMENTS anA AVG. S 64,971.00 66,971.00 267,967.13 66�971.00 5.088i 5.159t 1 .�s�ve..."'.."":.......a""""'..��.:........................"".........e....................�':" � 10/07/1996 Aaeeebment DSatxiet 83-1 PM - 3 ' � INVSBT!ffiNT POATFOLIO DBTAIL9 - G8H � CITY 98PTEMH&R 30, 1996 ACCRUAL INVESTl�NT AVSAAGB PURCH1188 8T11TBD --- YTM --- MATORITY DAYS RUPIDgR I88UHR HALANCS DATS 800R VALVS FACB VALUE MAARfiT VALV& PATS 360 365 DATB 10 MAT ____'_"_________"__________"_______'______"_'_____"______"""'____'_'_"'__"'__'___'_____""""""""____""""""' CA99 WIT9 TRU8T88 -FIABT TR09T 26002 Caeh witR Truetea 1.13 0.000 0.000 0.000 AVERAG88 1.13 """"'_""""""_'__"_""""""""""""'_"_'_"_"__"""_""'______'_"_"'___"""__' TOTAL CASH and INV881TffiNT8 S 267�968.26 - 66�972.13 .saas........:.......`......'.......a.............va»��.��r........�.�.�:�...��'...........��..`�� 10/07/1996 1995 Refunding Bonde 86-1-R PM - 2 � �' INVSSTMEI7T PORTPOLIO DHTAIL9 - INVBBTliGATB^� CITY 88PTSI�SR 70� 1996 ACCAUAL INVSSTMENT AVHMCS PURC9118& BTATSD --- YTPt --- M1�TUAITI D71Y8 NOFIDBR I88UER BALANCS U1YP& 800A VALUB PACB VALUS MPRRET VALUS MTS 360 365 DAT& 1q MAT """"_____________"'_""__"'_"_""__"'_"'__'___'_'_"__'_"'_"'_'_"________"'__'_'_""""__"'____'__"___"__"___ FIUBLITY TASRBURY POOL 12025 R PSCality Inetltutioml Caeh 86,169.00 86,169.00 86,169.00 5.160 5.089 5.160 1 � 12035 Fitlelity Inetitutional Caeh 669.00 669.00 469.00 5.160 5.089 5.160 1 _'_'__"'___""' '__"'_""__' _""_"__'__' "'_______"" _'____ __"" "_"' SUeTOTALB and AVHAA088 932�315.33 86,598.00 86�598.00 86�598.00 5.089 5.160 1 TAEASVAY 8&CUAITISB - COUPOB 16032 A United Statee Treaaury 05/03/96 396,851.99 600,000.00 398,875.00 6.375 6.490 6.580 03/31/O1 1,642 AVEAA6E8 396,826.19 '_'_`___"'"'""""""""'_"""""""""""""""""""_'_"_"""""'_""'_""""_ TOTAL INV&STI�NTB end AVG. f 683�669.99 485,673.00 1,329,139.53 686,598.00 6.2399 6.326i 1,368 ��"�"'...��:n�.�a�.::.:.:.:�:.:::::��""'.:':�:':�:sa.:.""""'a:n�..".::`�.".....::.e......... � 10/0]/1996 1994 Aa!unding Hande 86-1-A PM - 3 � � INV88TM�1T PORTYOLIO DBTAZLB - �8 CITY b8FT8FID8R 30� 1996 ACCRUAL IINSSTMEIiT AVSMOB PURC9PSH 8TAT8D -" YTN "- MNTIIAITY DAYB NUliBEA I88U8A BALANCB DATS HOOS VALUB PACB VALUE MAPRST VALUB A11TS 360 365 DATB 7q IMT _"__________'_'_____"___'_____"_""'_""'__"'__"__'_'_'__'_""'___'_____'___'__""__'_'_______'______""""___""'__" CA89 NIT6 TRUST88 -FIA9T TAUST 26001 Cach with Truetee 0.81 0.000 0.000 0.000 AV8AAG88 0.81 Accrued Inteiest at PurchaBe 1,602.66 '___'_""""___""'_"'_"""'_""""""'_""___._"""_"""""""'_ TOTAL CAeH S . 1,603.27 xs=:"...........z::az�=a_scx�.........z.:..a..m.:........a�msa:s�.:.....aa:.n.a..��:"""""""""" TOTAL CAaH and INV&eT[R�NTB t 1,329,110.31 685,053.26 """""""�.."""""""""""""'.....""""""""""""""""""""".....""'�"' I� 10/47/1996 � AD 81-1 PM - Z � INV861TISIPl PORTFOLIO �fiT1�IL9 - IPV8817�NT8 CZTY . 8�T&lIDBR 30, 1996 ACCRUAL INV88TMENT AV�t7�08 PUAC9A88 8T111BD "' Y7M "' MATURITY OAYS N17lID8R 288VBA HALANCB DATS HOOR VALUB PACS VALVE MAAR6T VALVE AATB 360 365 DATB TO MAT '_"_____"__________'_""_______'______""'__"__"""""___""""'"'_'__________"__________""'______"______'_____'__'__ FID%LITY TRSASURY YOOL 12028 R PSdallty Inetltutlonal Ca�h 165�071.00 165�071.00 165�071.00 5.160 5.089 5.160 1 12036 Pitlelity Inatitutional Cae� 193.00 193.00 193.00 5.160 5.089 5.160 1 _'______'_"_"" __"_""'_"' """"""" """_"__"' "'_" __"" _'_'__ eUHTOTALe and AVEPAGH9 539,812.53 165,266.00 165,264.00 - 165,266.00 5.OB9 5.160 1 MAI7AG8D POOL ACCOUNTB � � 12010 Pecific Horixon Treeeury Fu 656.00 656.00 656.00 4.900 4.833 4.900 1 12061 Pacific Horizon Tresaury Pu 16,738.00 16,738.00 16,738.00 6.800 4.736 6.800 1 """"""""' """"""'_ """'_____'_ ""_"'_""' """ '_"" _""_ SUHTOTALS and AVHRAa88 17,396.D0 17,396.00 17,396.00 17,396.00 6.738 6.806 1 __'_""'_'_""_""_"_"'________"'_"""'_"'____""'______"""""'_"_"_"'_""""""' 7bTAL INV68Tt�1Pf8 entl AVG. S 182,658.00 182,658.00 557,206.53 182,658.0� 5.0566 5.1266 1 ...........:"'�"""""""""...."""""""""'........."""".....:'�"""""'...""""' �I 10/07/1936 AD A7-1 . PM - 3 � � iAV887ME17T P0RIROLIO DBTAIL9 - C118H ^ CITY BSPTEPIDBR 30, 1996 ACCAUAL SNVESTf�IPP AVSMGB PURCBl188 ' BTATSD "' Y1M '-' M7ITURITY U11Y6 [iUHBSA I881I6R HALANCS DAT& HOOE VALUE FACH VALVS MAAI�T V11LU8 MTB 760 365 DATS 'PD MAT ________________'_""__"___'________'____""_'_____'____"_""'_""_'__'_'_____'___'_"_""___'_____"__""'__'__""_""' rza9 WITH TRUSTEB -FIAST TAUBT 26009 Ce�h with Tzuetea 0.86 0.001 0.001 0.001 AVffiiA688 0.B6 "'_"'_""_'_"""'_""__'_"'_"'_""""'_'__""""'�"""__""_""""_"_"_""_"_'_""' TOTAL CASH and INV887MEIiTe = 557,207.39 � 182,658.86 � � SO/0.7/1996 InGlan RStlge 91-1 6eriea A PM ' z � — INV681H817T PORTpOLIO D6TAIL8 - I31V38TMENT8 ' CITY &BPTBlIDBR 30, 1996 ACCAUIIL INV88TI�t7T AVE3UG8 PUACHA88 . 8T11T8D "' Y1TS -" MATUAITY DAYS IiUt�BR I88U8R HALANCB DATS HOOR VALUS FACB VALUS MAARST VALUS AATE 360 365 DAT& TO NA�P ____________'__'_"_"'_'_"______"'____'_____'"_______"_____"'___"'__________'__'_"___""___"'_'__"__'__________'____'_'_ PIDSLITY TREABURY POOL 12015 PSEelity Inotitutionel Cesh 656,058.00 656,058.00 656,058.00 5.160 5.089 5.160 1 12016 I Fidelity Inatitutional Caen 985�996.00 985,996.00 985�996.00 5.160 5.089 5.160 1 12022 A Pidelity Inetitutlonel Cach 59�126.00 59�126.00 59,126.00 5.160 S.OB9 5.160 1 """____"'_"' """"'__"_ _""""""' """_____"' "__'_ ""'_ ___"' SUeTOTALB and AVEAAGSe 1,058,032.C3 1,701,178.00 1�701�178.00 1�701�178.00 5.089 5.160 1 PBDEPAL AGENCY I88U88 - DI9COUNT 15000 A Aeaolution FDG Corp Pad Hk 07/07/92 539,165.68 733,000.00 701,618.66 5.191 6.125 6.210 07/15/97 287 . AVBAAOES 539,165.08 TREASUAY BECURITI88 - COUPON 16031 R United 9Latee Treaeury 05/03/96 496�065.00 500,000.00 698,593.75 6.375 6.690 6.580 03/31/OS 1,662 AvexAG85 d96,030.25 _"""'____________"'_"""'_""""""'_"'_""'_"""""""""""""""""_"'_____"' TOTAL IRVEBTMEPT3 and AVG. ; 2�736�608.48 2�901�390.19 2,093,228.16 2�936�178.OD 5.5676 5.6268 355 ..�:«e"v"""'��"""""".""""""��""""""""""��""""""'��""""�.�"""" �3 10/Q'/1996 Intlier. RSdge 91-1 Seriee A PM - 3 "—� IRVSBTMEAT POATFOLIO DSTAILB - CTBH CITY BHPT6t�ER 30, 1996 ACCRUAL INVBST!ffiiT AV�tA68 PUACBA88 9TAT8D --- YTM --- MATURITY DAYB NUAIDBR I88VSA HALANCB DATE BOOA VALUB FACH VALUB ltARR6T VALUE RATB 360 36S DATS 10 NAT '___""'__'_'_______'_"'____________"'__"___'__""_"""_""____'____"_'____"__"'__'___"__'__"_'_"'__'_"""_""___ CASH WITH TAUBTEB -PIRBT TAUBT 26006 Ca�� wlth Trustee 1.55 0.000 0.000 0.000 AVEPAGfiS 1.55 Accrued Intereet at PurcLaea 2�003.07 � "'_"_""'_"'_"_""_'__"""__"_"'_____'__'__"""_'__""""""""" TOTAL CA80 = 2,006.62� �"�"""�""��`e�'�""�'��""«a..a6a.....""."""""...s�ea..'�`�""'�a�:......��.""�'�'��" ZOTAL CA9H enA Itrv&eTt�NTB S 2,093,229.71 2,738,413.10 """"��....""""'.................��."�"""""""""�.....=.�.�s�"""""""""...... 1`�" 10/0]/1996 Indian Aitlge 91-1 8eriee B PM - 2 � -- IRVHBTl�11T POATFOLIO DBTAILB - I[N88TI�BlPPB �- CSTY B8PT8MB8R 30, 199fi ACCRUAL IINESTMENT AVEAACS PURCHA88 BTATSD "' YTM '-' MATUAITY DAYS [iUlIDER I88USR BALAPCB DAT& HOOR VALUS PAC& VALUE MARR6T VALUS AATS 360 365 DATB 1b MAT _'_"_'_'_______""____'______""__________"'_"""_______'_'___'_'_"__'___'____"_""_"__'_"___________'_'_____'_'_"_'___ FIDBLITY TAfiASUAY POOL 12062 I Fidelity Inetitutional CaeD 569�339.00 569,339.00 569,339.00 5.160 5.089 5.160 1 � 12043 Fidelity Inetitutlonel Caeh 667�106.00 667�1D6.00 667,306.0� 5.160 5.089 5.160 1 12063 R FSdellty Inetitutional Caeh 166,137.00 166,137.00 166,137.00 5.160 5.089 5.160 1 12066 Pidellty Inetltutlanal Caeh 92,709.00 92,707.00 92�707.00 5.160 5.089 5.160 1 ______""__"__' ______'_____'_ """"_"__' '_'_'__'__"" ______ ""__ _"'__ SVeTOTALB an6 AVSMCH9 1�726�926.33 1�275�289.00 1�275,289.00 . 1�275�289.00 � S.OB9 5.160 1 FED&RAI. AOSNCY ISBUSS - COUPON 16003 I Federal 9ome Loen Benk 11/12/95 1�000�076.86 1�000�000.00 999�687.50 5.4Y0 5.397 5.67Z O1/02/97 93 16005 I Fedaral 6oma Loan Benk 12/12/95 1,022,671.30 1,000,000.00 993,750.00 6.285 5.608 �5.686 07/28/00 1,396 16001 I Fedaral National Nortqago A 12/12/95 1,002,'570.16 1,000,000.00 997,187.50 5.650 5.386 5.661 10/20/97 386 14002 I Federal Netlonal Mortgage A 12/12/95 1,071,612.63 1,000,000.00 1,050,625.D0 8.650 5.877 5.958 07/12/99 1,016 16006 I Fadarel Hetional Mortgege A 12/12/95 1,105,885.75 1,000,000.00 1,080,625.00 9.050 5.620 5.699 06/10/00 1,787 SU8IOTALB nnd AVSMG88 5,205,005.69 5,202,616.68 5,121,875.00 � 5�000�000.00 5.583 5.660 B49 TREASURY 88CURITISB - COUPOH � . 16006 United Stetee Treneury 12/12/95 387,357.68 385,000.00 387,285.96 6.875 5.235 5.308 02/28/97 150 16005 Onited 9tatee Treaeury 12/12/95 292,692.77 291,000.00 291,654.69 6.000 5.266 5.319 OB/31/97 336 16006 R United 8tatee Treacury 12/12/95 688�652.37 686�000.00 682,033.75 5.875 5.261 5.316 OB/15/9B 683 16007 I Unitetl 8tatee Treaeuxy 12/12/95 1,037,991.69 1�000,000.00 1,001,562.50 6.375 5.338 5.413 01/15/00 1,201 16008 R United Statea Treaeury 12/12/95 675,798.63 665,000.00 466,607.81 8.000 5.279 5.352 OB/15/99 1,068 16009 I Unitad Statee Treaeury 12/12/95 1�036�907.89 1�000�000.00 1,027,187.50 7.875 5.212 5.286 Ob/15/9B 561 16010 I Unitad Stetee Treasury 12/12/95 1,033,150.29 1,000,000.00 1,019,375.00 7.125 5.272 5.365 10/1S/98 766 16064 I Un1teC 8tatae Treaeury 09/13/96 1�006�395'.26 1�000�000.00 1,007,187.50 6.875 5.468 5.563 03/31/97 181 __________"_"'_ _'__'_'__"'__ _'_'_""_____ _'_"_'_'_"_' ""'_ _'____ ""_' 9UeTOTALe and AVEMG88 5,348,825.60 5�748�446.�8 5�680�696.69 5�605�000.00 5.301 5.375 6S3 TRSASURY SSCUAITI89 - T-BILLB AVERAC&9 239,726.23 "'_""""_"""'_"'___"""""'___"""'__""""_"_'____"_"""_""_'_"__"_'_'_""'_ TOTAL INVESTMENTB antl AVG. = 12,226,169.66 12�077�858.69 12,518,681.85 SS,BB0,2B9.o0 5.3994 5.676\ 66B ��"""""'�'��.�""'�""""'�'�""�'�"�'�"""""""""��'�""'�"'�""""""""'��" �S 10/07i1996 Indler. RSdga 91-1 8eiie9 B PM - 3 . .— IPVSSIR�NP PORTFOLIO DSTAILB - C1198 -- CITY BEPT%HBHA 30, 1996 ACCRUIIL I�788TMRlaT AVBMOE PURC9A88 BTAT&D "' Y'fM "- MBTUAITY DAYB NUMBBR I88uBR BALANCB DATS BOOR VALUB PACB VALVS MAAY(ET VALUE MT6 360 365 DATE TO MAT "_"_"________"__""'_'_""_"""'___""""""_'_""""""""_"_""__"____"__"'__"'_'__"""'__"_"'_'____'_' CA6H WITB TAUBTSB -FIPBT TAUBT 26030 Caeh wlth Truatee 1.93 0.000 0.000 0.000 AVSRAG88 1.93 Aeeruad Intereet nt Purchase 31,181.69 '_'_'_'__""_'_'_"""""_"""'__"_"_'_"""""""'_""__""_"""_ TOTAL CA9H f 31�183.62 ��""�'�"��"'�....'.'�"�'��........."""""".....'�"�""""'�"'........"""'....""""' TOTAL CASH and INVSST[�lITB S 12,518,683.78 12�257,333.28 ::'_'z�=�.::�.��......�::'::�:��:.:n.�.:::.........a..::.......::.:.�""`:::..��._za�......�::��. � b 10/07;1996 81ezTe Nova 92-1 PM " Z � �� INVS8ITffilPf POATFOLIO DSTAIL9 - RiV88TNBMLB �� CITY 98PTalmBA 30, 1996 ACCAUAL INV68TI�NT AV&IU68 PVACHAeS BTI\1BD "- YTM "' M1ITURIT1f DAYe NUMHBR I88U8R BALANCH DATB BOOR VALVE FACS VALUS MAAI�T VALUB MT8 360 365 DATB TO NAT __'__'__"__""""""'_""'__'_"'_'____""""_""""__""'"_______"""___'__"""""_____"___"__"___'__"'_""" PIDBLITY TASABUAY POOL 12004 Fidelity Inetitutional Ceeh 20.00 20.00 20.00 5.600 5.523 5.600 1 12005 Fidellty Ineiitutional Ceeh 19.00 19.00 19.00 5.600 5.523 5.600 1 12006 A Fidelity Inetitutional Cash 9,593.00 9,593.00 9,593.00 5.160 5.OB9 5.160 1 12007 Fidelity Snetitutionel Ceeh 75.00 75.00 75.00 5.160 5.089 5.160 1 12065 Fitlelity Inetitutional Caeh 179.00 179.00 179.a0 5.100 5.030 5.300 1 SUHTOTAL9 and AVBPA�&8 215,903.93 9,886.00 � 9,886.00 . 9�886.00 5.090 5.161 1 TRSABUAY SECURITI&8 - COUPO[i 16033 R Ualted Statea Treaeusy OS/03/96 268,032.69 250,000.00 269,296.88 6.375 6.690 6.580 03/31/01 1,662 AV&FUO%8 268�015.12 ____'____'"_'_"_"""""____"_"""""""____'_"_"____""_""'_"""""'__"""___""_ TOTAL INVE31T78PT8 and AVG. S 257,918.69 259,182.88 463,919.05 259,886.00 6.637E 6.526A 1,579 ..:..........""""""""""'..�..��.............""'........."""�""""""""""""""" l� 10/07/1996 Siacca Nova 92-1 . PM - 3 � iNVEeTHBNT HOATPOL20 DETAIL6 - C1189 �ITY 88PT8t�8R 30, 1996 ACCAW�L INVSSTLffiNT AV81U08 PVACHA88 BTATSD "' y111 "' MATURITY OAYB NUt�BA I88UBR BALAPC6 DAT6 HOOA VALUS PACB VALUB MARRBT VALUB AATE 360 365 DAT& 'N' MAT _'___"________"_'___'_'_____"_'_""'_""'______"'_'_"'__________'_'___""""_'_______""________'_____'___"___""__"' CABH WITH TRUeTHB -PIRBT TRUeT 2d008 Ceeh with Truetea 1.76 0.000 0.000 0.000 AVEAAG88 1.76 Accruad Intareet at Purcha�e 1,001.56 ' '__"____"__'_____"'___'___"""______________""___'_'_______""'___""_' . TOTAL C713H � S 1,003.30 � ""�'�""'..�..e....""""'...........�"��"`�'::.�.:.�"':""��...."""��"""`:"""��::.:. TOTAL CABH and IPV88TAQiNTB S 663,920.81 258,921.79 ��s"""""'�""�.a.:....�....""""""'........""""""""....'�""""""""""�".�.... l� SO/Q7/1996 Hig Horn 96-1 pM ' 2 , .�. I[N887HBMP PORTFOLIO DSTAILH - IpV'a81TffiNT8 —.. CITY 9HPTEI�BA 30, 199fi ACCRU1fL ItN&8TM8liT AV&A7168 PUACHA88 . BTAT&D --' YTM --' M7�TURITY DAYB PUlIDER 288USR eALANCB DATS BOOR VALUS FACB VALtlB MAPRST VALUS A11T8 360 365 DATB TO M1�T """"_"""""""""""_""'_"""""""""""'_"_'___"_"'____'__"'_'_'_""__""""_"""__'____"""_'_"' PIDELITY TASA9UAY POOL 12018 R Pidelity Inatltutional Caeh 62,BB8.00 62,888.00 62,888.00 5.360 S.OB9 5.160 1 12019 Pidelity Inetitutional Cee� 98.00 98.00 98.00 5.160 S.OB9 5.160 1 12020 I Fldelity Instltutional Ceeh 6,891.00 6,891.00 6,891.00 5.160 S.OB9 5.160 1 12021 FiQelity Inetitutlonal Cesd 95.00 95.00 95.00 5.160 5.089 5.160 1 _'_"'__""""' __"""""'_ "'_""""" '_'_"_"'_"' """ """ "'"'_ SUBTOTALe and AVSAAOE9 803�957.1'/ 69�972.00 � 69�972.00 69�972.00 S.OB9 5.160 1 FBDBAAL AGENCY I8SU88 - DISCOUNT 15006 A Fedeial Moitgaga Diacount N 09/13/96 394�630.78 600,000.00 395�679.99 5.330 5.603 5.678 12/13/96 73 AVERAG88 236�766.47 TAfil�3URY 8&CUAITI83 - DIBCOUNT 17009 R United Statse Treseury OB/26/94 Z22,059.23 275,000.00 253,687.50 5.653 6.162 6.2�8 02/15/98 502 AVEAAGES 222�059.23 _"""'__________'_____'_"__'__""_'_"__`____"_"""""""""'�"_'___________"____'__""_ TOTAL INVESITIENTs and AVc. S 686,662.01 719,339.69 1�263�782.86 766�97Y.00 5.616i 5.6969 Y06 ..........::e:�::::=::'a.:.�'��..�....""""��"::"�'�'�""��."""�""�""'�""�"""'�"'�' �� 10/07/1996 HSg Horn 96-1 PM - 3 ' � Il1VH3TM61Pl PORTFOLIO DBTAIL9 - CABH CITY 9gpTH!l�HR 30, 1996 ACCR071L INVE81T18IPl AVSIU08 PURCHABH BTATSD "- Y1M "' MATUAZTY DAYB NUI�IDgp IggUgg HALMCB DATS BOOR VALllB FACB VALUS MAAR&T VALUB AATB 360 365 DAT& 1U MAT __________'_'_"'_'___"""____'____'_____'_""__'______"_________""'_____'____""____"'___'___'___'___"_'_____'_"_'_"_' CASH WIT9 TAVSTSS -FIRBT TAUBT 26007 Ceah wSth Truetee 1.60 0.000 0.000 0.000 AVeM6Ee 1.60 ____""'__"_"'___"'_""'_"""_""""""""""""""'__""_""""""_""'_"__"""" TOTAL CABH antl INVEB'II�ffiiT8 S 1,26Y,786.66 - 686,fid3.61 � """�""'��'��""""""""�""�:..�""""'...""""....'�'�""""��'�.....>...:`::':""" � 10/0'1/1996 eunterrace 96-2 PM - � INV88TI�NT POATFOLIO DBTAILB - IPVBBTl�MPF CITY 98PTENBBR 30� 1996 ACCRUAL INV85T!ffiPT AVEILIQB PUACfiABE 8TAT8D "' YTM "' M7�TUAI7'P DAYe NUA�BR I88U8A eALANCE DATE HOOR VALUB PACS VALU& MPR7�T VALU& AATE 360 365 DATB TO MAT """__'__"_""'_'_"_'__"'___""_"___'____""""""""_""_"""_"""""'_"'__"_____""'_""___""'___""'__' PID&LITY TA5ASURY P�L 12009 I Yidallty Inetitutlonal Cas� 33�577.00 33�577.00 33�577.00 5.160 5.�70 5.160 1 � 12010 R PSdellty inatitutlonel Caah 14,431.00 14,431.00 16,631.00 5.160 5.089 5.ifi0 1 12032 Pldality Inatitutloaal Caa� 32.00 32.00 32.00 5.160 5.089 5.160 1 12033 Fidality Inatltutional Ceah 32.00 32.00 32.00 3.600 3.551 3.600 1 eUBTOTALe end AVEAAOHe 156,911.90 C8,072.00 - 68,072.00 48�072.00 5.075 5.165 1 TAEA6UAY SHCUAITIES - WUPON . 16030 A United etatee Treaeury OS/03/96 188,501.70 190,000.00 189,665.63 6.375 6.690 6.580 03/31/O1 1,662 AVSRAa88 188,691.69 _"""""""_'__"""_""_"""""""""""""""""""'_"'_""""'_""""'__'_"_ TOTAL INVESTME1Pf9 and AVO. ; 236�576.70 237,537.63 365,603.39 238,072.00 6.203i 6.2896 1,309 saaa."""""""""""""'.�...."""""""�""'��..:..."""'�.........�"""""e.......... Z 1 10/07/1996 8,mterrece 96-Y PM - 3 ' "'� IAVS8ITIBIIT POATFOLIo DBTAILB - CJ18g � CITY ggpTEMBBA 30, 1996 � ACCRU7�L ItNE8Tt9iliT AVSIU68 PURC81188 BTATSD --- YTM '-- M7�TUAITY DAYB PUFIDHR ISSUBR HALAlPCB DATS HOOx VALUB FACS VALUE MARRET VALUE AA'1'& 360 365 DATS TO MAT ""_'__'_'________""__'____'____"'_____"__'_'_____'___"_'_____'_'_'__'_"'__'____"'_____'__"_'_"""""""'___'_"'_"' rseH WIT9 TAU9T88 -PIRST TAUBT 2C006 Caeh wlth Truetea 2.03 0.000 0.000 0.000 AVeMG88 2.03 Accruod Intereet at Purchaee 761.17 """_""'_""""'_"""_""_"""_""_"'_"_"_""'_'___"""""'_" TOTAL CASH ; 763.20 ......�:�a::.`................��"��.`..`..'.`.............v.....��......��."..�`��.'��:e��. TOTAL CASH end INV881T�IiTB S 365,405.42 237,339.90 ""�»��"'.""""""""""""""""��..""""""'..."""".....�""""""""�........ Z 2� 10/07/1996 �U+ianv 96-3 2M - 2 . .".� IIiV8817�9T PORTPOLIO DSTAZLB - IIiV6BTHCNTP � CITY BEPTBt�BR 30, 1996 ACCRUAL INVEBTI�BIiT 7�VSAA�B PUAC9A88 BTATSD "' Y7T1 "' MATUAITY DAYB l7Ut�SR S88UER HAL11NC8 DATS HOOA VALVB FACB VALVE MAARET VALUB A11T8 360 365 DATB 'N MAT _'_'_'_______"_'_'_'_____"_'____""__'__"'_"_"'____'"____'__""_"_"""_"'__________"_'_"'___""'_'__"'_'_"'__""' PIDBLITY TAEA9VAY POOL 12011 YSAellty Iaetitutlonal Ceeh 18.00 18.00 18.00 5.160 5.070 5.160 1 12012 I Pidellty Inetitutionel Caeh 434,537.00 636,537.00 636,537.00 5.160 5.089 5.160 1 12013 A Pidelity InetStutiannl Caeh 124,460.00 126,dd0.00 126,660.00 5.160 5.089 5.160 1 12031 P1Gelity inetitutlanel Caeh 11,979.00 11,979.00 11,979.00 5.160 5.089 5.160 1 12037 PSEelity Inetltutlonal Caeh 19.00 19.00 19.00 5.160 5.089 5.160 1 _"'__""_""" """_"""' '_""""'_" """"__"" __"" "'_" "_"_ eUHTOTALe anA AVBAAGBB 640�357.13 570�993.00 � 570�993.00 . � 570�993.00 5.089 5.16� 1 "'_"""___""""""""'_'_"""'_"'_"'__""__""'_""'_'_'_""""""_"""""""" TOTAL INVSBTt�NTB nnd AVG. = 570,993.00 570,993.00 660,357.13 570,993.00 5.OB9\ 5.160i 1 me�.z�=...�a��a�.��..�....ma..a.��..........................ee...��.....:a�...��.....:a.:... � 10/07/1996 Mereno 96-3 . PM - 3 � -�� INVEB'II�NT POATFOLIO DETAIL9 - CAgg � CITY BBPT°..t�EA 30, 1996 ACCAWIL INVS9TI�NT AVSA7108 PURCHA88 STATBD -" Y1Tf "' M71TU1tITY D8Y8 NUt�@SA I88i18R BALAIICS DATB BOOR VALVS PACE vALUB MAA1�T vALUB P7\TB 360 365 DATB TO MAT "'_"'_"__""___'__"_"""'_"_'_""""_"__""""_""""""""_'__""_"""""_"_"'_""""_""""_""""' CA86 WIT9 TRUBTSE -FIABT TRU6T 26005 Caeh with Tzuetae 1.05 0.000 0.000 0.000 AV8RAG88 1.05 "___'__"__"__'___""_""'__"_'_'_""'__'__"""_"'____""""__""_"""""_""""_'_"" TOTAt GeH and INV66TlPIaTB S 640,358.18 � 570,996.05 � '�'��:e:..."""""""..:...""""......'�"""'...."""'......�"'.......:.......""'�""""' Z� 10/07/1996 95 AW HND: 83-1, 86-1-A, 87-1 PM - Z � —� IPVHeY'MB11T PORTFOLIO DETAIL9 - INVEBTMENTB � �='i'Y ggpTgt�BR 30� 1996 ACCRUAL INVS81T181PL AVSIUGB PURCHAB& . BTATSD "' yTM '__ NATURITY DAYB NUFIDSR I88U8A BALPPC6 DATS BOOK VALUB FACB VALUB MAA1QiT VALUE RATS 360 365 DATS TD MAT _"_"_"__"""_'_""""_'_"_____""""_'_'____"'_"_""""_""""_""______"'_"_""_'_'_'_"_"_"""_""""'_ PID&LITY TASASUAY POOL 12023 FSAe11ty Inetitutlonal Cash 21,329.00 21,329.00 21,329.00 5.160 5.089 S.1fi0 1 12026 P1de11ty Inotitutlonal Caeh 1�386.00 1,386.00 1�384.00 5.160 5.089 5.160 1 12039 Pidallty Inmtitutlanal Cneh 112.00 112.00 112.00 5.160 S.OB9 5.160 1 12066 Pidellty Inetltutional Caeh 30,675.00 30,675.00 30,675.00. 5.160 5.089 S.1fi0 1 "__""""__"' """"__'__' """""_'_' '_"'___"_"' """ ___"' """ SUBTOTALB snd AV6AAGE8 36,896.70 53,300.00 - 53,300.00 53,300.00 5.089 5.160 1 __""'__'__"""_'_"""'_""__""""_""""_""""""""'_""_"""""_"_'_"'_'_"" TOTAL INVESTMENTB entl AVG. = 53,300.00 , 53,300.00 36�896.70 53�300.00 5.089E 5.160i 1 �.�"""'...a:""""""""�"�"��""�"'�'�""`�'��"�'�""""......."�""""'...""""... !� 10/07/1396 95 A&V BAD: 83-1, 84-1-R� 87-1 PM - 3 � `-� INVB$1TII{NT POR2FOLI0 DSTAILB - CABfi � CITY BgPTEPIDBA 30, 1996 ACCRUAL INVBST!ffiNT AVBAA08 PURC9A8S 8TAT5D "' YR41 "' MATURITY DAY9 pUt�BA I83U8A eALANCE DATS H001( VALUS FACE VALV& MAR1@T VALU6 AATB 360 365 DATB TO MAT '_"""_""""'____'__"__""___'_"_"'_'_'_"""'__'_""_"""'_""___""""'_"_'_'____"'____""'_"'_""'___"_" CABH WITH TAU8TS8 -PIRBT TAUBT 26003 Ca�h vith TluBtea O.B9 0•000 0.000 0.000 AVSPAGfiB 0.89 "'___"""_'_______'_'__'____"'____"""_'____""_"_"___""______'_"_________'_'____"____"'___ TOTW, CASH and INVS9TI�NTB S 36,895.59 - 53,300.89 - ��6�..z��.��."""""�"'..�:.�a::�:""""':':..."""".:.:..��......_�::�.:...n�..:=:�..:.e:�: Z� 10/O7/1996 Clty Oenerel Puntl pM - 2 ' ' SPV68T!ffiPf POATFOLIO D%T11IL8 - IPVB87TI6[7T8�-� CITY 88PTSMBBR 30� 1996 ACCRUAL INVeBTMRNT AV8AAG8 YUACBA88 BTATBD "' Y1T7 '-' M1\TUAZTY DAYS N0f�8A I88U8A BALANCB DATE BOOR VALUB FECB VALUB MAR1�T VALU& AATB 360 365 DAT6 TO H11T "____"_""'_'__'_"'__""'_""""'_"""_'__"""""_"'_'__'___"_"""'_"_"_"""'_'_"_""'_"""""""""'_" LOCAL AGSNCY INV681N6NT PUADB 12000 Local l.gency Invaatmant Pun 16,016,609.92 16,016,609.92 16,016,609.92 5.587 5.510 5.587 1 . AV6AAOSS 16�696,309.92 FBDERAL AGBPCY I89V88 - DIBCOUNT 15003 Pederal Bome Loan ennk 07/23/96 2,a66,750.00 2,500,000.00 2,692,699.92 5.320 5.392 5.667 10/21/96 20 AVSRAa88 6�576�583.33 TAEASURY 88CUAITI&8 - COUPON 16000 United 8tatee Treaaury 10/Z7/96 3,998,725.69 �,000,000.00 6,007,500.00 6.500 6.616 6.706 11/30/96 60 16001 United 9tatee Treaeury 10/27/94 1,999,651.75 2,000,000.00 2,011,250.00 6.750 6.726 6.818 02/28/97 150 16034 United Statee Treaeury OS/31/96 1�998�653.60 2,000�000.00 1,998�750.00 6.000 5.967 b.050 OS/31/9B 607 16035 Unitad 8tatea Traasury OS/31/96 1�971,965.07 2�000,000.00 1�976,250.00 5.125 6.061 6.135 03/31/98 566 16036 United Statee Treseury O6/26/96 2,975,783.05 3,000,000.00 2,987,812.50 5.875 6.252 6.338 08/15/98 683 16037 United 8tatee Treaeusy O6/26/96 2�926,225.80 3,000,000.00 2,939,062.50 5.125 6.316 6.602 11/30/98 790 16038 Un1teE Statea Treeeuxy O6/26/96 1,983,207.61 2,000,000.00 1,988,750.00 5.375 6.052 6.136 11/30/97 625 16039 Un1teA Statae Tleaeury O6/26/96 1�999�273.69 2�000�000.00 2�003�125.00 6.000 5.950 6.033 08/31/97 336 16062 Un1teC etatee Treaeury 09/13/96 1,972,522.87 2,000,000.00 1,976,875.00 5.125 6.068 6.152 02/28/98 S1S 16063 UnSted etatae Treaeury 09/13/96 2,009,213.97 2,000,000.00 2�011,250.00 6.500 5.593 5.670 04/30/97 211 16045 united etatee Treeaury 09/OS/96 1�991�714.43 2�000�000.00 2,000�625.00 6.125 6.270 6.358 OB/31/98 699 '_"""""""' """""'___ """"""_' '__"_""'__' '___" """ """ SUBTOTAL6 and AVSAAGSe 23�961�430.10 25,826�516.93 25,901�250.00 26,000,000.00 6.211 6.297 666 ___'_"__"_'_""'___""""_"'__"""""'_______"""'_____""_"'_____"""""______""" TOTAL INVE9ITffiPT9 antl AVG. = 66,305,876.85 66,608,359.86 65,035,123.35 66,516,609.92 5.9121 5.996t ]61 :�e�...�.�................"'�......"""'........"""'a�""�"""""""""""'�"""�""""' Z� 10/07/1996 City Oeneral FunA PM - 3 . ._ IIN881TiBlIT POATPOLIO DSTAILB - CA86 CITY 88PTEt�BA 30, 1996 � ACCRUAL INV88Tl16NT 1�VEIUGS PURC&18F BTATBD '-' YTM "' M1ITURZTY DAYB NUt�mBR I88USA HALAPCB DATB BooA VALUB FACB V.U.US MAR1�T VALUB MT& 360 365 DATE TO MAT """'__"""""_____"""'_____"""___""""""""'__"""_"""'__""'_"""""""""'_"_"_'__""_"""""'__' PMBBOWC/C�CRIBO LCCOUNTB 13000 Bank of Amaricn - C�ecking 266,636.65 0.000 0.000 0.000 13002 Hank of Americe - 8avinga 6,472,539.56 2.000 1.973 2.000 __""'_""_' ""_"'_'_"' ""'_ '_"" SUBTO'fALB anE AVSAAG&8 1�739�283.15 6�737�176.01 1.862 1.888 Accrued Intereet at Purchaee 135,176.80 '___"'___'__"""_'______'____"'_'_"'_____""'_'_"'___"____"'_'_'_'__'_' TOTAL CABH S 4�872�350.81 � ""'�""��""""""""""�"""'�'�'�"'�""""""""'�"""""�'�"�"""�"""'��""" TOTAL CABH and INV89TNSNTB ; 66�776�606.50 49�178�227.66 , "".��a�:�e��"".��a��."""""""�"""""""""..."""�"...""""��'.....:....."'��.... Z• 10/07/1996 CLTY LQAN TO PDA PM ' � — INV88'D16l7T PORITOLIO DBTAIL9 - INVB9TMEIiT9 � CITY BSPTSlIDBR 30, 1996 ACCRUW, IPVEBTHENT AVESUOE PUACHABB BTATSD -" Y7% --' t'17�TURSTY DAYB NUlIDgp IggUgg H1ILANCB DATS BOOE VALU& FACB VALUB MARRHT VALUS RATS 360 365 DATH TO MAT "'_""""""""""""_"""__"__""___"_'____""____'___"_""'_____""'___""""_""__""___'__""_""""__'_ CIRY LOAN 11� AD➢ 12001 Redavalopment Agency-Loan 07/OS/95 19,000,000.00 19,000,000.00 19,000,000.00 5.538 5.662 5.538 07/O1/O1 1,736 AVEAAGEB 19,000,000.00 ""'_"'_"'_""""""__""_'_""""""_'_"_'_""""_""'_""'__""""""'_""""" TOTAL IPV88T[�BATB end AVG. . S 19,000,000.00 19,000,000.00 19,000,000.00 19,000,000.00 5.6626 5.53Bt 1,736 �'�:.:<e�..."'e"":��::�a.:sa�'�"'�".......:""'..�.:::.."'..a:......"�".:�a:.��.�'."""'."... 2� � � � a � � � � � � < < � � _- X � .-A �-. � � � � � � � � � � � Wy1 y tll y N My1 W Ny1 Vy/1 Ny1 N N Ny! y y N Ny1 W W W W yW W W W W W W = T > y } Y > Y ) > Y T T 7 > Y Y } Y y > Y } y > Y Y > >' 6 U � � , � , � , � , � , i � � � � � � � � i � ' � ' Y } Y Yl' > Y Yrl > Y > Y > > Y y Q J a J Q J Q Y Q J Q J Q J Q J Q J a J Q J Q J Q J a J y N � ; g ; S y � � S � 8 NS NS NS ; 8 yS yS ; S ; g W 2 `p � II � �� -� �$ � ° � � E �` 5� � y� � �_ E �� g g � �� p � �� $ g � '�a � � .E�� E� � � � y �� N ?� y� � � � . � �� e�� - � 3_ 3$W d �g �g� � � „ � 8�� ? °' � @ 8 � �E �s � � . � �'-�� g e� 8 �� g N � �� _ �� m m W LL (� S - ' � � � � � � � � �� a � �, � LL s �'. � ,�@ `� � � F �� j � � X � � p-� � � � � � � g � � LL � � � � � _ y y � � � � F � LL � � > > � O Z � � � � � � � . - y�{ U � 2 y� � $ � � � z s — �_ —. -- ___- -- - . __ _ _ _ _ . l �� s s� �u l� � O� i a' � � '_ � _' _"_ " voF - s�.wv w ; . . . ,. 'm $ •+R s a r . '�. a iW .,,' . � . . ' wF�olF f . � ' _ o � :� '. , '. , .. ea6Ca1Z � . X ;r b � O �.. . ' . . � ea/.[oll � C N � '�. li e m i g � � w 'E � � m � ' i ,a�w o� , � E e ��o�s o�tl o � : m m � aa W m sawwsa�e 5 f . s . a .. � X .. .. .. ' _ ' ' 3 . , �. sWuow[wZ $ ' . � o I w` �. I �. �'' � � . �� s�puow{oll n .. m µuo q $ \r �ueµ sa� � g � $ � # € t� f de � . m ry ry � � � � } . .'. ��. '�. Mnd lo% 6 w � W Q O � �J U)O m p . � .. �' W �� j w m n m m v .+ ry � ' ' ' �a� o a � v a z ° ,.'__—;— �—'�-T—;- . LL g a Z e � � e o 0 Q F 4 N 0 0 o a o J� r � m o r F j� I m u� vi n e a U Z __ I . .. . . — . --_. ._— .. _.. �. ._.. . ...... . . _._._ �. O O O O � N A O f� O O I V aD � „ �°s �8 � � � �� » � m � � i s `" "' wmm m m 'mrn ', U e m �-in m m �vio =` � � u° w �� w � _ �� oowm �ornmoo mvw _ _ �. �� 8 O O W V N N N O O N � �N W O � N r N �O O W l�0 g� o� _ � N Pl t0 V N V O O O� � O a a M N h O N O Np tV O V 10 � - � , O f9 O ry V W N O N N OI I S�] V (O N CI N � A O �O o � � �� uN (� F Fv $ O O O N � a0 O 1�1 � O �h (7 m � '2�'�'_ p�j 000 W �O V � NnO <`+ nN < i ?qm�.i._ �. E O) O N V Oi � N t� OI lh O t0 � I� y �',;y . . . (A 1n OI O I� � N U1 V O 1� N Ol � � �: - 10 (7 f0 I� I� N O N O N M N qO LL A : a � '& m r �ai r�o w m g m iD � 3 °° t r'�` ,. f= m N � [V O (9 N N O) . y < di aD N OI N N��O W f9 O ,g� t a 3:��i' > Q � 1A � fA bl N m IA W � rv: ( �f., � '. I Qd3 19 �M O ; ,r,,,Y ti°,'. = ` a` � !: b L .`L^4"�`�.:y 1�Y�mi vt� a' 6 �. I d �'.�M`t+�ilb'�Y`msf ^`,�"fx".� ..� ., �{"'��+Yjl'Y,��%y^� , � C C . �'� i��31� . � O � + Aftf�# m o 0 0 � 1O w , ;r'k'.a*�+�£��.'h.'T'?+�a .. o �� ,� p y a a U � c � rs... 0 E � � a9i u u n � y � ,;y��`�e gS$'' .��. o : I U a v � �rn w U O m � � �m e �.S`"��s fi�' l o d � m aarzr �" � "o > � .�,�. .-� � � � �, �" o = �. N N � y N J 7 Ji p C � t W LK LL a v N N N p �p �t0 N ^ ' a U IL V � Ivl LL f- f K m (� rL Z� �8 �� 5 �� F F �, . . . ._ O I E a' < a T° I _. . . ._ ... ...._ __ .. —._ ._ _. ..____- .__. . __._. .. I �0/OB/1996 PD Redrvelopment Agency ppi - 1 PORTFOLIO MASTER SUMMARY - RDA SEPTSMB6R 30� 1996 ACCRUAL AVERAGE ---YIELD TO MATTIRITY--- PSRCENT OF AVfiRAGfi DAYS TO 360 365 INVESTMENTS HOOK VALUE PORTFOLIO TERM MATORITY EQUIVALENT EQUIVALENT Fidelity Treasuly Pool.......................$ 15,465,170.00 17.95 � 1 1 5.012 S.OB1 Local Agency Investment FLnds................$ 9,851,932.02 11.44 1 1 5.510 5.587 Federal Agency Ieauea - Coupon...............$ 2,619,037.65 3.04 856 968 5.942 6.025 Federal Agency Isauea - Diacount.............$� 982,750.00 1.14 I15 301 5.495 5.571 Treaeury Securities - Coupon.................$ 56,483,276.82 65.57 853 440 5.865 5.946 Treaeury SecuriCiea - Diacoun[...............5 953,005.48 0.53 1,319 197 6.104 6.189 Treasury Securities - T-Bill.................$ 288,684.12 0.34 213 164 5.389 5.464 TOTAL INVESIMENTS and AVERAGES.............5 86,143,856.09 100.00t 595 306 5.669i 5.797t """""""""..��»�a=��«�e��e��'�"��a��««»��...:�e«�a"""` CASH Pa9sbuok/Checking - No Yielrl Totale..........$ 424,651.08 0.1'1l 0.1'!4 (not included in yield calculatio�e) Accrued Intereat at Purchase.................$ 33,660.9'! __________________"'_'_______""""""'"""""'_""'_'___'_""""""___ TOTAL CASH and PURCHASE INTEREST.............$ 458,312.85 � �:.�m��e.....�.....�=a�s.�me�aee�=za�veem��ese�ee��«�e��e��»a�e��e��.... TOTAL CASH and INVESTMENTS.................$ 86,602,168.94 ' ........e��_aa��e�a�...�m�a.��'.'.........a....«.�..'�.....e��e�.�........` MONTH ENUING FISCAL TOTAL EARNINGS SfiPTEI�ER 30 YEAR TO DATE CLrren[ Year $ 429,659.'/6 $ 1,30"l,628.39 AVERAGE DAILY BALPNCE $ 92,036,247.04 $ 91,154,099.97 EFFECI'IVE RATE OF AETURN 5.686 5.69i The inveatment portfolio of [he P.D. Redevelopment Agency complies with ite Paul 5. Gibson Invea[ment Policy and the Cali£ornia Gwernment Code aectiona pertaining to the Treasurer Snvestment of local a9ency funda. Pending any future actiona by the Governing Board of the Agency or any unforeseen catastrophy, the Redevelopment Agency hae adequate caeh flow to mee[ ite e�cpenditure requirementa for the next six mon[he. OATE Market valuee are from Fizat Trust 4 IDC Da[afeed pricing eervice. 1C/08/1996 � - 9 PD Redevelopment Agency ADA INVES'iMENT ALTZVITY SUDAtARY ACCRVAL SEPTEhIDEA 1995 through S&PTEPIDER 1996 YIELD TO MATURITY MAtIAGED N[7MBER OF NOMB6R OF AVERAGE MONTH NOMBEA OF TOTAL 360 365 POOL S&CURITIES 56CURITIES AVERAG6 DAYS TO END YEAR SECUAITIES INVBST6➢ EQUIV EQUIV RATE PfIRCHASED MATfIRED/SOLD TERM MATORITY _______"_'___________'_____'__________'__________'______________"'""_"_"__"____________'_____'_'__'____"'_______ ' September 95 90 101,185,983.84 5.915 5.998 5.739 0 1 444 256 � October 95 91 96,781,629.39 5.866 5.947 5.633 0 1 464 248 November 95 89 97,723,495.42 5.'!80 5.860 5.713 3 7 401 243 December 95 87 96,649,896.71 5.762 5.842 5.615 0 2 404 22B Sanuary 96 � 85 95,9�8,939.74 5.655 5.733 5.146 0 2 405 211 Febzuary 96 80 93,156,182.09 5.581 5.658 5.096 0 11 3B9 204 March 96 "/9 92,891,1OB.B8 5.526 5.603 5.095 0 3 380 190 April 96 83 90,208,295.31 5.520 5.59] 5.159 0 4 389 183 May 96 94 100,'720,774.03 5.649 5.728 S.15B 16 7 525 334 .Tune 96 9� 89,105,63'/.01 5.665 5.'/44 5.066 1 3 590 356 Suly 96 90 89,528,473.60 5.653 5.731 5.001 0 3 582 331 August 96 BB 91,628,984.58 5.634 5.713 S.0]9 2 7 558 303 Sep[ember 96 8] 86,143,856.09 5.669 5.749 5.081 � 2 5 595 306 AVERAGES BB S 93,969,4B1.2B 5.682i 5.762t 5.282} 2 q 471 261 s��.«<��__�_s��aas�a�e�ve�s��e��a»�a=��s�e«ses��ms��es��e�s��_�� Z 1J/OB/1906 PM - 10 PD Redevelopmen[ Agency RDA �ZSTRIHUTION OF INVESThffiNTS ITY TYPE ACCRUAL SEPTEFIDER 1995 thraugh SEPTEhID6R 1996 MON1'ff _______""""______'___'_________'__'____________ TYPES OF INVESTMEN'TS ______'_____'______""__________"_""'_'_______'" END YEAR HCD SCD LA1 LA2 LAS PA1 PA2 PA3 MTN BAC CPI COM FAC FAD TRC TRD DID1 September 95 16.7 23.'/ 4.3 13.1 3'/.6 4.6 October 95 13.0 0.0 24.7 4.5 13.7 39.3 4.8 November 95 1'/.3 24.4 ' 2.2 ' 15.1 38.9 2.6 Decembez 95 1'/.1 0.0 24.7 2.2 15.3 38.1 2.'/ January 96 19.5 22.5 2.2 15.4 3'/.'] 2.7 February 96 33.5 2G.2 2.3 5.3 37.9 0.9 MarCh 96 42.1 1'/.4 2.3 3'/.3 0.9 April 96 91.0 18.0 2.4 37.8 0.9 May 96 10.1 23.7 2.1 58.4 O.B 4.9 June 96 11.4 13.'/ - 2.4 0.6 65.5 0.9 5.5 July 96 14.8 11.'/ 2.4 0.6 64.3 0.9 5.5 AugusC 96 22.0 12.1 2.3 0.5 62.3 0.5 0.3 September 96 18.0 11.9 3.0 1.1 65.6 0.5 0.3 AVERAGES 21.3k O.Ot 19.1k 0.7k 4.Oi 4.1& 4].7t 1.8k 1.35 �ea:�e.�e��e====a:=sa��e:��:��....��e��e�e��e��e:��e��m��vee:se�:=��::m�ee�eze::ns:e��:�:�s��_�=e:�e::�� BCD - CerCificates oE DeposiC - Hank SCD - Cer[ificatee of Depoait - S a. L � LA1 - Fideli[y Treasury Pool LAZ - Managed Pool Accounta � LAS - Local Agency Investmen[ Funds PA1 - Paeabook/Checking PA2 - Cash with Trvs[ee -First Tzust PA3 - Checking/Self Help Housing Loana MTN - Medium Term Notes HAC - Bankera Acceptancea CPI - Commercial Paper - In[erest Bearing COM - Commercial Paper - Diacount FAC - Federal Agency Iasuea - Coupon FAD - Federal Agency Isauee - Diacount TRC - Tzeasury Secutities - Coupon TRD - Treanury Securi[iee - Diacoun[ MD1 - Treasury Securities - T-Bill � 1�0/OB/1996 PM - 11 PD RedeVelopment AgenCy RDA INTEREST EARNINGS SUhAII+RY ACCRVAL SEPTEhffi&R 30, 1996 MONTH ENOING FISCAL SEPTEM1IDER 30, 1996 YEAA TO DATE CD/Coupon/Diacoun[ Investmenta: Intere5t Collect¢d $ 142,554.82 $ '170,'l31.11 � PLUS Accrved Interest at End of Period 1,086,046.26 1,086,046.26 LESS Accrued mterea[ at Beginning of Period l 926,942.95) ( 897,573.45) _______"_______'_ _"_""""""__' Interes[ Earned during Period $ 301,658.13 959,203.92 ADNSTED by Premiums and Discounte • •• ' -4,278.76 -12,689.97 ADNSTED by Capital Gains or Losaee 0.00 � 0.00 . Earnings during Period 297,3'/9.37 $ 946,514.01 e_e�as�e��...... aa�ve�e��ae.�ase Mor[gage Hacked Securities: Interes[ Collected $ 0.00 $ 0.00 PLUS Accrued Intezest at End of Pesiod 0.00 0.00 LESS Accrued Interest a[ Beginning of Period 1 D.00) 1 . 0.00) Interest Earned during Period $ 0.00 0.00 - �e�se��s�a:s...... ..�.=ems:..�:.z..: ADNSTED by Premiums and Diacounte 0.00 0.00 ADJUSTED by Capital Gains or LoSsee 0.00 0.00 ""'______________ _""""'"'""___ Earnings during Period 0.00 $ 0.00 sa»e....:..��.�� ._��..s�easzs��a � Cash/Checking Accounts: Interest Collected $ 316.50 $ 349,590.66 PLUS Accrued Interest at End of Period -56,965.29 -56,965.29 LESS Accrued Interes[ a[ Beginning of Period ( -1BB,929.18) ( -68,409.01) "'�""_""'_"" """"""""""' Interest Earned during Period $ 132,280.39 $ 361,114.38 .................. _::....:.......... TOTAL Interes[ Earned during Period $ 433,938.52 S 1,320,318.30 � TOTAL Ajustmen[e from P=emiume and Discounte $ -4,278.76 $ -12,689.91 TOTAL Capital Gains or Losaea 5 0.00 $ 0.00 TOTAL Earnings during Period - $ 429,659.'/6 5 1,30'/,628.39 ��e�«��"��.... ��"��`��'�'�'�. � 10/O7/1996 PD Redevelopment AqenCy Ae - 1 .�YIUM/COIM1I88IOA/DIBCOUNT 11MpATIZ7�TI011 SCffi�.^. ADA . 88PT&t�BA 1� 1996 - SBPTFt�BR 30, 1996 ACCAU717. � PA. - PAEMIUPI� C0. - COlMI83SOH� D8. - DIBCOUNT , � 11CCUMVLI�TBD I68U8R 8TAT8D PACS VALVB ORIOIBAL C08T AMORTIZATIOB &liDIN6 AlbATIEATIOP TO H86IN HAL. 11MORTIEBD SND BAL. I[NBT. - PUND Y AATE MAT. DATB CALL DATS AMOUNT BOOR BAL. BeOSNNIBO DATS THIB PBR. THIe PBA. T9Z8 PBA. ""__________""_______________'_'___""""_______'____'__'___________'_______________'_____'_""_____'__'_"""""__'_"'_" Pederal Farm Credit 500,000 698,359.38 -1,660.62 698,606.60 0.00 -1,660.62 45.02 -1,595.60 15008 R-HLYT� 6.125 07/09/1998 / / FeAeral Home Loan Benk 2�115�000 2�126�896.88 11�896.88 2�120�633.25 -5,861.26 6�035.62 -602.37 5�633.25 15005 E-4 6.105 12/O1/1997 / / � Unitae Statee Treeeury 1,000,000 999,863.75 -156.25 999,946.79 99.28 -56.97 3.76 -53.21 17007 I-26 6.000 11/30/1997 /- / Unites Statee Tceaeury 5,500,000 5,597,109.38 97,109.38 5,511,268.19 -80,237.09 1fi,872.29 -5,626.10 31,268.19 17009 I-26 7.250 11/30/1996 / / Unitee Statee Treaeury 692,000 706,380.62 16,380.62 699,78'/.17 -6,353.11 8,027.51 -260.36 7,787.17 17010 R-26 6.750 OS/31/1999 / / Unitee 8tatee Treaeury 16�342�000 Sd�233�d92.66 -108�507.34 16�301�661.78 65�686.21 -62�823.13 2�dB4.91 -60�338.27 17011 E-26 5.625 O1/31/1998 / / � Unitee Statea Tzeacury 1,300,000 1,311�781.25 11,781.75 1�306�389.73 -6�907.3fi 6,873.89 -686.16 6,389.73 17012 I-6 6.375 O6/30/1997 / / Unitee 8tatee Treaeury 304,000 110,207.50 6,207.50 108,664.92 -1,667.12 6,560.38 -115.66 6,666.92 17013 R-6 7.750 11/30/1999 / / Unitee Stntee Traaeury 231,000 232�607.66 1,607.66 231�677.53 -682.31 725.35 -67.82 677.53 17015 E-6 6.000 11/30/1997 / / Unitea 9tatee Treeeury 300,000 299,250.00 -750.00 0.00 712.31 -37.69 37.fi9 0.00 17020 A-17.5 6.500 09/30/1996 / / Matured/9old Unitea Stetea Treaeury 250,000 269,651.55 -368.65 269�967.28 299.37 -49.OB 16.36 -32.72 17027 A-100 6.500 11/30/1996 / / Vnitea statea Treaeury 250�000 268�095.30 -1�90C.70 Y69�391.21 1�228.77 -675.93 67.1d -fi0B.79 17030 R-100 6.375 06/30/1997 / / Unitee 3tatea Treaeury 250�000 261,057.80 -8,942.20 Y69�355.13 ��867.62 -1�074.78 6Y9.91 -666.87 17033 A-100 4.375 11/15/1996 / / Unitee 5tatec Traaeury 250�000 268,837.50 -1�162.50 269�673.63 792.81 -369.69 63.3Y -3t6.37 17039 R-100 6.500 OS/15/1997 / / Unitee Statee Treaeury 250,000 269�882.80 -117.20 0.00 111.32 ' -S.BB 5.88 0.00 17044 A-S00 6.500 09/30/1996 / / Maturad/9old Unitee Statae Treaeury 5,390,000 5,6Z6,083.61 36,083.61 5,399,656.36 -32,829.08 11,356.53 -1,600.17 9,656.36 17065 E-100 6.875 03/31/1997 / / Unitee Statee Treaeury 250,000 248,128.13 -1,871.87 269,765.76 1,533.82 -338.05 83.81 -254.24 17060 A-100 6.125 12/31/1996 / / Unitee Statea Treaaury 250,000 268,368.75 -1,631.25 269,716.10 1,277.56 -353.71 69.81 -�83.90 17061 R-100 6.250 O1/31/1997 / / Unitea Statee Treaeury 170,000 168,539.06 -1,660.96 168�662.1C 98.59 -1�362.35 26.65 -1,337.90 17062 A-17.5 6.375 03/31/2001 / / unitee Statea Treaeuxy 600,000 596,863.75 -5,156.25 595,277.99 367.97 -6,808.28 86.77 -6,722.01 17063 A-6.3 6.375 03/31/Y001 / / Unitae etatee Traaeury 6,000,000 3�970�000.00 -30,000.00 3,972�680.65 1�977.65 -28�OYY.35 502.80 -27�519.65 17066 A-100 6.375 03/31/2001 / / � 30/07/1996 pD AadweloFment Agency A8 - 2 '�YIUM/COtM1I88I0B/DSBCOUNT AMORTIZATION BCHSD'^� ADA . 9EPTEMBBA 1, 1996 - 88PT8I�8R 30, 1996 ACCROAL ' PR. - PAEMIUM, CO. - CWQAI88ION� D8. - DIBCOUNI ACCUMULATBD I88USR 9TATSD Y11C8 VALUS OAIOI[UL COBT AMOATIZATIOH BNDINO AMOATI9J�TION 7D H802N BAL. AMORTIZSD HND HAL. ItNeT. - PUNO ♦ PATS ltAT. DATE CALL DATS AMOUNT BOOE BAL. B&aINNINO DATS THIB PBR. T928 PSA. THIS PBR. _'_"'_"'__'_"""""""'_"_"""'____"'_"_"""_"_"""'_"_"'_"""__"""""_"""'_""""_"""____""""" Unitee 8tates Traaeury 1,000�000 991�718.75 -8,281.25 992�365.91 689.83 -7�791.62 137.33 -7,656.09 17065 A-100 6.250 06/30/2001 / / Unitee 9tatee Treasury 400,000 396,687.50 -3,312.50 396,938.36 195.93 -3,116.57 56.93 -3,061.6{ 17066 A-17.5 6.250 04/30/2001 / / � Unitee 8tetee Treacuxy 5,000,000 <,976,367.15 -23,632.85 4,994,058.78 13,730.82 -9,902.03 3,960.81 -5,961.22 17067 I-100 4.375 11/15/1996 / / Unitee statee Treaeusy 5,000,000 6,996,921.85 -5,078.15 4,996,597.89 1,300.81 -3,777.36 375.23 -3,602.11 17068 I-�,00 5.625 O6/30/1997 / / Unitee 3tatae Treaaury 2,000,000 2,006,687.50 6�687.50 2�003�786.06 -693.62 3,996.08 -708.02 3�'786.06 17069-RUA 6.125 03/31/1998 / / Unitee 9tatee Treaeury 2,000,000 2,016,875.00 16,875.00 2,009,821.16 -5,626.05 11,668.95 -1,627.81 9,821.16 17070-RDA 6.625 03/31/1997 / / llnitea Statee Treaaury 1�000�060 1,001�093.75 1�093.75 1�000�765.37 -252.60 861.15 -75.78 765.37 17071-RDA 5.875 07/31/1997 / / Unites Statee Txeaeury 1,000,000 998,906.25 -1,093.75 999�194.08 221.61 -872.36 66.67 -805.92 17072-RDA 5.750 09/30/1997 / / Unitee Statee Treaeuxy 1,000,000 1,013,203.13 13,203.13 1,006,391.99 -5,239.36 7,963.79 -1,571.80 6,391.99 17073-RDA 7.500 01/31/1997 / / Unitee Statee Treaeuxy 1,500,000 1,507,851.56 7,851.56 1,502,560.29 -C,011.12 3,860.46 -1,280.15 2,560.29 17075 5-100 6.500 11/30/1996 / / Unitea Statee Treaeury 800,000 803,125.00 3,125.00 802,066.26 -802.60 2,322.60 -256.16 2,066.26 17076-26 6.125 05/31/1997 / / Unitee states Treaeuxy 1,000,000 986,531.25 -15,668.75 987,670.57 2,379.81 -13,088.96 759.51 -12,329.43 17077-ADA 5.000 O1/31/1998 / / SllHTOTALS 57,071,929.76 56�683�276.82 -36�731.53 -61�801.77 -3�921.61 -7�070.26 -65�723.18 "'_"""""""""""""""""__'___'_'_"""""'_""""""'_""""""'_""' TOTALS OF INVESTMENTB . '""'__"_""""""""""""""""""""'"""""""'"""""""""""""""""""__ WITH PR&MIUM 6 DIBCOUNTB 3,186.02 -60�592.)9 -6,278.76 s 59,697,186.02 59,302,316.67 -37,606.77 -G1,685.53 """""�'�""'�""...�«....:.........a.:z�a..:.:m::::.::..............�""""""""" � !0/07/1996 ROA =300 Million Hoatl PM - 2 �' INVBSTI�BIiT POATFOLIO DSTAILS - INV&67TffiI7T8 � �� ADA 88PT8MHER 30� 1996 ACCAUAL IlNEBT[�NT PURC91f88 6TAT8D '-' YTN "' MATUAITY DAYB NUl1BHA 286U8A DATS HWA VALVS PACB VALll6 MAAR5T VALU& PATS 360 365 DATS TO MAT __'____'__"___""__'_""'__""_"_""'__""_'_'__"_'__'_'_'_""__'_"'___""___"'__'_'__"'_'_'______'_"'___"_"__"_' � PID&LITY TRSA8IIHY POOL 11030 I PiAelity Snetitutionel Caeh 2,138,899.00 2,138,899.00 2,138,899.00 5.160 5.089 5.160 1 � 11011 R FSQelity Inetitutional Ceeh 1,356,088.00 1,356,088.00 1,356,OBB.00 5.160 5.089 5.360 1 11012 8 Fidelity Inetitutional Caeh 298,870.00 298,870.00 298,870.00 5.160 5.089 5.160 1 11018 P1Cality Inatltutionel Cean 686,236.00 686,236.00 686,236.00 5.160 5.089 5.160 1 11037 FSEelity In¢titutional CaaL 0.00 � 0.00 0.00 5.160 5.089 5.160 1 '__'__'_"'__' ""'_'_"_"' __"'_'___'___ _'_'__ ""__ "'_" SUBTOTAL9 and AVEAAGSB . 6,280,091.00 6,280,091.00 6,280,091.00 5.089 5.160 1 TIi6715URY SBCURITISB - COUPON 17027 A Unitee Btatee Treaeury 03/02/95 249,967.28 250,000.00 250,668.75 6.500 6.687 �6.577 11/30/96 60 17030 A Unitee 8tetea Treaeury 03/02/95 269,391.21 250,000.00 251,328.13 6.375 6.636 6.728 O6/30/97 272 17033 R Unitee Statee Treasury 03/02/95 269,355.13 250,000.00 269,687.50 4.375 6.533 6.623 11/15/96 45 17039 R Unitoa Statee Tzeaeury 03/02/95 269,6�3.63 350,000.00 251,606.25 6.500 6.632 6.726 05/15/97 226 17045 & Unitea 8tatee Tzeaeury 07/01/95 5,399,656.36 5,390,000.00 5,628,760.63 6.875 6.390 6.678 03/31/97 181 17060 A Unitea 8tetee Treaaury 03/02/95 269,765.76 250,000.00 250,566.88 6.125 6.669 6.559 12/31/96 91 17061 R Unitae Statae Traaeusy 03/02/95 269,716.10 250,000.00 250,703.13 6.250 6.523 6.616 01/31/97 122 17066 R Unitae Statec Traaaury 05/06/96 3�97Y�680.65 6�000�000.00 3�988�750.00 6.375 6.666 6.556 03/31/01 1�66Z 17065 A Unitea 8tetee Treaeusy OS/17/96 997,345.91 1�000�000.00 991�875.00 6.250 6.359 6.667 06/30/O1 1�672 17067 Z Unitee Statea Treaeury OS/20/96 6,996,058.78 5,000,000.�0 6,993,750.00 6.375 5.295 5.369 11/15/96 65 17068 I Unitee etetee Treaeusy OS/20/96 6,996,597.89 5,000,000.00 5,000,000.00 5.625 5.636 5.716 O6/30/97 27Y 17075 E Unitae etetae Treaeury OS/30/96 1,502,560.29 1�500�000.00 1�502�812.50 6.500 5.366 5.660 11/30/96 60 ""'_'_'__'_' ""'_'_""" """"""" ""_' '_'__' """ SUHTOTALB and AVEAAG88 23,355,566.79 23,610,068.77 23�390�000.00 5.950 6.033 673 TREA3UAY 58CURITIEB - DI9COUNT ' 18016 A Unitee Stetee�Treesury 09/10/93 306�780.23 359�000.00 366�771.56 4.068 6.638 6.500 05/15/97 226 18016 E Unitee fitatee Traeaury 09/10/93 168�225.25 205�000,00 200�96q.06 7.951 9.530 9.663 02/15/97 137 ""__"'_"" _"_"___'____ ____________" '__'__ '_"" ""'_ SUBTOTALS and AVSRAGES 653,005.68 567,735.62 566�000.00 6.306 6.189 197 """""""""""""""""""""""""""'�"""""""""""" TdPAL zNv83TMENT3 and AV6. = 28,088,663.27 28,237,895.39 . 28,236,091.00 5.821i 5.902t 396 "��""'..............."""""""""""""""".""""""""""'..�... � 10/07/!996 RDA S1D0 Milllon Bantl PM - 3 � IPV68TlI61VT PORTPOLIO 0&TAILB - C78H � pp7� 88PT8MB8A 30, 19% � ACCAVAL IPVSSTMENT PUACHABE 8TAT8D -" Y1M -" MATURII7 DAYS PUlIDER ISSVSR OAT& HOOR VALUS FACB VALUS MAARBT VALU% AATS 360 365 DATB 1V MAT __"__"__'_"""_'_'__'________"___'___""_"'__""'__'__"""'_"""'_'_"'__""___'________'__""'__'___""'__""'_'_ CA88 NIT9 TRU9T88 -PIABT TAUST 26000 Caeh wit� Tsuetea 1.33 0.000 0.000 0.000 Accrued. Intaraet et Purchaee 23,974.13 ""_""""""""'___""'_""""_'_""""__"""""'_'__'_"_"""" TOTAL CASH ; 23�975.66 ..�...�"�'��..:.....'�"""""""""'..."'�"�""....��""'�.........."'.. TOTAL CASH and INV881MEIPf3 S 28,112,618.73 � """'........................................................""....s.e.......... � 10/07/1996 AU.\ 517.5 M1111on Bontl pH - 2 ^' SNVSBTl�lT POATPOLIO DETAILB - IPV88THSNT6 RpA eBPTBlIDSA 30, 1996 ACCRUIw IIN851MENT PURCBABfi BTATSD "' Y1M "- M7ITURITY DAYB NVpIDBA I98VBR DATB 800E V11LU& FACS VALUB MARRBT VALUB AATS 360 365 OATB TO MAT '__'____'__________"__"'____""_"""'__"____""""'_""""'_'___""___"_'___"'_'_"_'_"'_'_'__'__"______"""""_ PID&LITY TASABUAY POOL 13008 A PSdality inetltutloanl Cneh 386,658.00 386,458.00 386�658.00 5.160 S.OB9 5.160 1 11009 I PSdellty Inetltutioanl Ceeh 3�658�752.00 3�658�752.00 3�658�752.00 5.160 S.OB9 5.160 1 11021 Pidelity Inetltutional Caeh 63,359.00 63,359.00 63,359.00 5.160 5.OB9 5.16� 1 11022 Pidelity Inetitutional Caeh 327.00 327.00 327.00 5.160 5.OB9 5.160 1 13023 Fidellty Inetit�tionel Caeh 0.00 0.00 0.00 5.160 5.OB9 5.160 1 "_"""""' _"""""'_' """"_""' "_"' _'__" """ SUBTOTALS and AV6RA68S 6�088�896.00 � 6,088,896.00 . 4�088�896.00 5.089 5.160 1 TREASUAY SECURITIHB - COUPON 17062 R Unitac 8tatee Treesury OS/03/96 1ti8,662.30 170,000.00 169,521.88 6.375 6.690 6.580 03/31/01 1�662 17066 R Unitee &tetee Treaeury 05/17/96 396,938.36 600,000.00 396,750.00 6.750 6.359 6.667 04/30/O1 1,672 ___""""'__ """"""" "'_""""" """ """ """ BUBTOTALB and AVERAGSB 565,600.16 566,271.88 570�000.00 6.398 6.687 1�663 """""__"__"""""""_"""""""__"""'_""__'_""""""_"_' TOTAL INVESTMBNTB and AVG. . = 6,656,C9fi..66 6,655,167.88 6,658,896.00 5.268! 5.321\ 203 ..:s......:.....""""�""""'��""�""""""'��e:....��..�.��a""'�"" � 10/07/1996 AUA 117.5 MSlllon Bond . PM - 3 ^ IIN887T�NT PbATFOLIO DHTAILe - CA6H � �� ApL 88PTEl�BR 30, 1996 ACCAUAL INV68TpBlPf PURCBABB 8T11T&D "- Y1M --' MATURITY DAYS PUFIDSA I68U6R DATB BWE VALUS FACB VALUB MARlm'f VALUB A11T8 360 365 DATS TO tMT ________'___""""_"'__""___'__"____________'_'_'___________'__"""'_'_'_____'_____""""____""_"_"""______"'__" CASH 4IITH TAUBT� -FIAST TAUBT 26005 CeGt1 WSt11 TiuBtea 2.08 0.000 0.000 0.000 AcczuaC Intereet at Purchaee 1.B3B.71 ___""_""""_'_"""_'_""""""_______""""'_"_'_____'__"""""' TOTAI. C1s9 � = 1�840.79 , .....................:...........�.�".'...""""..�.."""�"'."�"'........... TOTAL CASH antl INVB9TI�lPPB S 4�656�337.25 "......w..a.a:':.:a:.:.aea...s............aa.s:a...s.......s.....""'.......a..... 16 10/OB/1996 RDA $24 Million Bond PM - 2 - IiiVESTIMsNT PORTFOLIO DETAILS - INV55TMENT"^ RDA SEPTE4IDER 30, 1996 ACCRUN. IP7yBSThIfiNT PURCNASE . STAT6D --- YTM --- MATURITY DAYS NOMBER ISSUER DATE HOOK VALUE FACE VALUE MARI(BT VALUe RATE 360 365 OATE TO MAT FIDELITY TREASURY POOL 11002 Z Fidelity Znetitutional Caeh 850,139.00 850,139.00 850,139.00 5.160 5.089 5.160 1 13003 R Fidelity insti[utional Cash 59,224.00 59,224.00 59,224.00 5.160 5.089 5.160 1 11004 E Fidelity Inetitutional Caeh 433,511.00 933,511.00 433,511.00 5.160 5.089 5.160 1 11019 Pidelity Institutional Cash 40,845.00 90,845.0� 40,845.00 5.160 S.OB9 5.160 1 11020 Fideli[y Institutional Caeh 1.00 1.00 1.00 5.160 5.089 5.160 1 11029 Fidelity Insti[utional Cash '/01,906.00 ']01,906.00 701,906.U0 5.160 5.089 5.160 1 ""'"""____ ______________ _____________' _____' ______ __'__' SUBTOTALS and AVERAGES 2,005,626.00 2,085,626.00 2,085,626.00 5.089 5.160 1 FEDERAL AGENCY ISSVES - DISCOUNf 16006 I Federal Faim Credit 09/17/96 982,750.00 1,000,000.00 905,099.95 5.400 5.495 5.571 O1/10/97 101 TREASURY SECORITI6S - COUPON 17007 I Unites States Treasury 07/O1/94 999,946.79 1,000,000.00 1,001,250.00 6.000 5.921 6.003 11/30/97 425 1'1009 Y tlnites Staees Treasury 07/01/95 5,511,248.19 5,500,000.00 5,517,187.50 7.250 5.844 5.926 11/30/96 60 17010 R IInitea Statea Treasuiy 07/O1/94 699,787.17 692,000.00 700,433.75 6.750 6.165 6.251 OS/31/99 972 1'/011 E Unites States Treaeury 07/O1/94 14,301,661.78 14,342,000.00 14,283,735.63 5.625 5.780 5.860 01/31/98 987 17076 Uni[es States Treaeury OS/30/96 8�2,066.26 800,000.00 802,500.00 fi.125 5.640 5.718 OS/31/97 292 SUBTOTALS and AVERAGES 22,314,'110.19 22,305,306.88 . 22,334,000.00 5.809 S.B90 385 ____________"__'"______________'____________"_"__'_'"""""'""""'_'"'""" TOTAL INVESTMENTS and AVG. 5 25,383,086.19 25,375,832.83 25,419,626.00 5.738F S.B18k 343 �a��z��s��a�a�sa��e�n«s��=�`_'s�'_�a�aze��.�.............�e�s�a��.'�.`.'�..�'�'� �/ 10/OB/1996 R7A $24 Million Bond PM - 3 �^ INVESIMENT PORTFOLIO DETAIIS - CASA � RDA � SEP1'EPIDER 30, 1996 ACCfiUAL INVE51T1ENT pN��.SE STATED --- Y1M --- MATORITY DAYS NUhffi6R ISSUER DATB HOOR VALUE FACB VALUE MAR[�T VALVE RATE 360 365 DATE TO MAT ___'"________"""'"'"_____"'_"_________""""___""__'_________"""""'""_"""_""""""_"_____""""'"""""___"' CASH WITH 1RUSTEE -FIRST TRUST 26002 Caeh with Truatee 3.71 � 0.000 0.000 0.000 TOTAL CASH and INVESTMENTS $ � 25,303,009.90 � �za.ess��s��m_�ea...:na�......:.....�.��....�aass��sa.�a�s��aa�.�.....sa��« � 2 10/07/1996 RDA ;6 Million HonE PM - 7 � INV881NSMP POATPOLIO DSTAILB - INVS87NSpTF ^ pp� . 88PTEDID&A 30, 1996 ACCRW�L IlNSSTt�RT PUACB7188 BTATSD -" Y'Rl "- MATURITY DAYS NUMHBR I88UBA DATB BCA1C VALf18 PACB VALUB MAAR6T V11LU8 AATS 360 365 DATB TO MAT ""____""""""__"_""'""""""_"'__'_____'_"""""""""""'__"'_""_'_""""""""_'""_"'"'____"""""' PIDBLITY TA&ABURY POOL 11005 I PSCality Inetitutlonal Caah 157,295.00 157�295.00 157�295.00 5.160 5.089 5.160 1 . 11006 R FSdelity Inetitutional CaaA 12,128.00 12�128.00 12�128.00 5.160 5.089 5.160 3 11025 FSCelity Inetitutional Ceen 27,693.00 27,693.00 27,693.00 5.160 5.089 5.160 1 11076 Fidelity Inetitutionel CaeD 53.00 53.00 53.00 5.160 5.070 5.160 1 13029 E Fidality Inetitutlonal Ceet 150,706.00 150,706.00 150,706.00 5.160 5.089 5.160 3 11028 FSd�11ty Inatitutlonel Caeh 100.00 300.00 100.00 5.160 5.089 5.160 1 ""'""""" "'_'_"_"_'_ """"""" """ '_"'_ "_"' SUBTOTALS and AVSAAOES 367�973.00 367�973.00 367�973.00 5.089 5.160 1 PSDBAAL AGBNCY I83[188 - COUPON 15005 E Pederal 8ome Loan 8ank O6/16/95 2,Y20,633.25 2,115,000.00 2,120,948.44 6.305 5.855 5.937 17/O1/97 436 TASASUAY BSCUAITISB - COUPON 17012 I Unitee etatea Treaeury 07/O1/95 1,306,389.73 1,300,000.00 1,306�906.25 6.3�5 5.807 S.BB7 O6/30/97 272 17013 R Unites BLatea Traesury 07/01/95 108,666.92 106,000.00 108,192.50 7.750 6.098 fi.iB2 il/30/99 1,155 17015 E Unitee 8tatee Tresaury 07/01/95 231,677.53 231,000.00 331,388.75 6.000 5.665 5.726 SI/30/97 625 '_'_""""__ '_"_"'__"" """_"""' _'_"' ""_' __"" SUBTOTALB and AV6RAG88 1,664,512.18 � 1,666,387.50 � 1,635,000.00 5.803 S.BB{ 352 """""""__"""""""""""""""_"'_"""_"_""""'_'_"_"" TOTAL INVEeTMENTB and AVC. = 6,113,118.63 6�115�308.96 4,097,973.00 5.7708 5.850i 360 - `��"""�""""""'.............................��.""�'��"""'�"'�"""�' �� 10/07/7,996 ADA i< MS111on Hand PM - 3 �— IPV86'A�ST POATFCLIO UBTA'.LB - C718H AiIA � BEPTEMOSR 30� 1996 � ACCRUIIL INVE61MEIiT PURCH1188 BTAT&D --- Y1M --- M7ITUAZTY DAYB IQUMHEA I98U8R DATS HOO1C VALUS PACS VALUB MAAR6T VALU6 AATB 360 365 DATB TO IMT ClQ9 WIT9 TRU8T88 -PIRBT TAVBT 26003 Cach wlth Tsuciae 2.26 0.000 0.000 0.000 """"'__"""""""""""'_"_"""_""""""""_""""""""'_"' TOTAL CA3H and INV&874�AT8 S 6�113�120.69 "��'��s�:�"�"""""""�"'.""""""""�'�"�""."'��.�a.es...""""� � y 10/07/1996 Lw M�d 6at-eaide Refunding PM - 2 '� INV881MENT pppTppLIO D&TAILB - INVSSTNBIiTP 1iDA � ggpT8NID8A 30, 1996 ACCRUIIL INV887Ti6NT PUAC9A88 8TA'P8D -" Y7Tl '-- M7�7'1111I7R DAY9 NUMHBR I88UBA DATS HOOR VALUS PACS VALU$ M7�RRST VALUS AATS 360 365 DATB TO MAT _"_'_"____'_'_"_"__'____"_'_'___________'___'_"'_'_"_"___'_"____"'_"_______'___"_"_'_____"'_"_""__'___'_"""_" FIDBLITY TR8A8UAY POOL 11030 R PSAality Inetitutional Caeh 68,804.00 48,806.00 48,806.00 5.360 S.OB9 5.160 1 11031 Pitlality Inetltutional Caa� 20,666.00 20,666.00 20,666.00 5.160 5.089 5.160 1 11032 Fidelity Inetltutioaal Ceeh 1.00 1.00 1.00 5.160 S.OB9 5.160 1 13040 PSAelity Inetitutlonal CneR 249.00 269.00 269.00 5.000 6.932 5.000 1 """_'_""_ '__"""""' """""___' "'_" """ ___"' SUBTOTALB end AVSRAG88 69,720.00 69,720.00 69�720.00 5..089 5.159 1 TAEABURY 88CUAITIEB - COUPOIi 17063 R Unitee etetee Treaeury OS/03/96 595�277.99 600�000.00 598�312.50 6.395 6.490 6.580 03/31/O1 1�662 """'_""""""""_""""""""""'_"'_"'_"_"____'__'__"_""'_" TOTAL INVSSTt�NTB and AVG. ; 666�997.99 668�032.50 � 669�720.00 6.3638 6.4318 1�670 ......."'�...............................�.�.""""""""""""�""""'��" ' J 10/07/199fi Lar Mod Bet-aalde Refundiag . PM - 3 "'' INV881MSNT PORTPOLIO DSTAILB - GeH � � ADA � 88PTElIDER 30, 1996 ACCRUAL INVSBTAffiIiT PllACBABS BTAIBD '-' Y1Tl "' MATUAITY D71Y8 liUt�SR I99USR DATS HOOK VALUB FACB VALUB MAP1�T VALUS MT8 360 365 DATB TO MAT """"""_""_"___'_____'__"_______"""'_""""""""'_"'__""_"_'____'_"_"_"'___"_""_"""""'_'___'_""' CA39 WIT6 TA08T88 -FIRBT TRUBT 26004 Cach with Truetee 1.22 0.000 0.000 0.000 Acczuad Intereet et Puic�aee 2�603.69 """"""_""""""""'_"""'_"""""'__'_"_""'_""""""""' TOTAL CA88 � - ; 2.606.91 """""""'�""'��"�`�""""""....�"'�"""""'�""""'�'�'��"""'� TOTAL CA89 and INVSBT!ffiqT8 S 667,602.90 "':'�"""""'.z..�:.a�:.::..�::.�.:�.a:�a.::'�"""�'�"""""�"".��..es... l � 10/07/1995 B1y:Ao County Coust AUcila CtL PM - 2 � � INV881TffiNT POATPOLIO DBTAILB - INV881MENTP� ADl\ � 88P7Bt�EA 30, 1996 ACCRWIL INVS3TI�IiT PURCHABE � 8TAT8D --- Y1#1 �-- MA791RITY DAYB M1nmsA IBeUSA DATB eooR VALvB PACS VALUE MAFtKSS VALUB 1UT8 360 365 DATB TO iMT """"'__'__'___________'_"_'___'________'___"'__'_"'___"""__"""_""""_""_"'_""'___'_'__""'_"'_"""""'_' FIDSLITY TASABURY POOL 11038 � Pitlrllty Inetltutiannl Ca�h 87.00 87.00 87.00 5.000 6.932 5.000 1 11039 R FSGe11ty Inetitutionel Caeh 36�202.00 36�202.00 36�202.00 5.000 6.932 5.000 � 1 11041 I Fidality Inetitutlonal Cesh 2,873,716.00 2,873,716.00 2,873,716.00 5.000 6.932 5.000 1 11062 Pidality Inetitutional Caah 17,308.00 17,308.00 17,308.00 5.000 6.932 5.000 1 31066 FSEe11ty Inetitutional Ceeh 1�259.00 1�259.00 1�259.00 5.160 S.OB9 5.160 1 '_""______'_ '_______'_____ _______'___"_ '_'___ ______ _"'_' BUBTOTALB aad AVSAAG88 2,928�572.00 2,928,572.00 2,928,572.00 6.932 5.000 1 FED&RA7, AGBNCY IBBUBB - COUPON 15008 R Federal Parm Credit 09/13/96 198�IOf.60 500,000.00 {99�687.50 6.125 6.312 6.600 07/09/98 666 TAEABUAY 3&CUAITIEB - T-HILL 18020 Unitee 8tatee Treaeury OB/13/96 218,520.71 226,000.00 220,158.37 S.iBO 5.330 5.386 O1/30/97 121 18021 Unitee Statee Treasury OB/13/96 �0,163.61 76,000.00 70,721.79 5.610 5.637 5.715 07/36/97 296 """"""'" """_"_"" """"'__"__ _"'_' ""'_ '_"" SUHTOTALS antl AVEAAGBB 288,686.12 290,880.16 298,000.00 5.389 5.666 166 '""'_"_'_"_'_""""""'_"'__"'_"'__'"'""'___"""'__'_"__'__""""_ TOTAL INV88TM8[iT8 and AVG. ; 3�715�660.52 3�719�139.66 ' 3�726�572.00 5.152t 5.224t 100 .�.....�.........:....s:::.n::z.::z..:....�.�..��a.:......:......................... � � 10/07/1996 Hlythe County Court Admin Ctr PM - 3 ��—� INV&B'II�pT POATFOLIO DBTAILB - CLBH � PDA � BEPTP.I�ER 30, 1996 ACCAU7IL INV&87TffiNT PURC9A88 BTIITSD "' Y1M "' MATURITIf DAYS NUMHBR I88UHA DATB HOOE VALUB PACS VALU@ MAA1�T VALUB AATE 360 365 DATB TO MAT ""_"'___"'_"__'_"_""'_"""_""'_"""""""""""""""""'_""""'__"'_"""""'_"'_"___""""'___'_' CABH WITH TRUST88 -PIABT TAUBT 26007 Cae� w1tD Truetee 0.63 0.000 0.000 0.000 Accruad Intereat at Purchaee 5�OC6.66 ________"'_""""_"_'______""_"_"'_""'_"""_""_'_'_"'_'____""" TOTAL CASH S 5.666.87 '........n.:....::................::...:..��..........................��e..........' Toml\L cA6H and INV88Tt�ffiNT8 = 3,721,105.39 l � 30/Ol/1996 RDA Deeert Aoce eonC Ieeue PM - 2 � INV88TNSl1T POATPOLIO DSTAILB - INVSBTNBMLF ^ pp7+ � s6PT8lt88{i 30� 1996 ACCAUAL INVS3T!ffiIT PUAC6A88 BTATBD "' Y1Tf "' MARRIAITY DAYS NUDIDBR I88U&A DAT& HOOII VALUS PACE VALUS MAA1�T VALUB AATS 360 365 DAT6 TO MpT '_'___"_'___'_""'____"_""_"_""'_"_"_""'_"""""_"__"'_"""'__'_"""""""_"""""_"""__"""_"'_"' PIDELITY TAR118UAY POOL 11034 & Pldelity Inetitutional Ceeh 657�683.00 657�d83.00 657�683.00 C.710 6.665 6.710 1 � 11035 P1de11ty Inetitutlonal Caeh 8.00 8.00 8.00 6.900 6.833 4.900 1 11036 Pldality Inetitutianel Caeh 1,006,621.00 1,006,621.00 1,006,621.00 6.710 6.665 6.710 1 11063 Pidellty Inetitutlonal Caeh 180.00 180.00 180.00 5.160 5.089 5.160 1 "'_""_'_"' """'_""" """"__"" "'_" ""'_ """ SUBTOTALB and AV8AAG89 1,666,292.00 1,66d,292.00 1�666�292.00 � d.666 6.730 1 """"""_"""""'"""""""""""""_""""'_"'_"""""""_' TOTAL IflVSST!ffiIiTS and AVG. = 1�666�292.00 ' 1�666�392.00 1,666�292.00 6.666\ 4.710t 1 ."""""'....:......�"'��.:.:.s..e""`�"'��""'�"""""��'��'��"��."' � � 30/07/1996 ADA Daeart Aoae BonO Leue ,1 PM - 3 � — IlN88T1�NT POATPOLIO DSTAILB - CABH �A . ggpT8MH8R 30, 1996 ACCRUAL INV88TH6PT PUACHA88 BTATBD """ y1M "'_ MATI1ftITY DAYB NUI�IDgR Iggpgg DATB BOOR VALVE FACB VALUS MAARBT VALll6 PAT6 360 365 DATS TO MAT _'"_'__"__"__"_"______'��'_"""""""""'_---_'___"__'____'_"___""___"""__"___'________"_'_"""__'_'__'___"'_ PM8B00&/CHSCAING 25003 FIRBT INTBR8TAT8 HANR 0.00 � 3.290 3.265 3.290 25005 FIAST INTERSTATE eANA 9,069.12 0.025 3.970 6.025 25006 PIRBT INT&A9TAT8 HANR -6.00 0.000 0.000 0.000 "_"""'_"' """ """ eUBTOTALe and AVBRAO&9 9�061.77 3.972 0.027 _""""_""""'__'___"'_"'__"_""__'__""'___"""""__'__""""_""" TOTAL CASH and INV88TMENT8 S 1,673,333.77 ��...�""'�...�""'...""'.....""".""""""""'��..:""�"""""""" "j„O 10/07/1996 Pelm Desazt Office Camplax PM - 3 � —� INV881T1611T POATFOL20 DBTAILS - CABH —.. ADA . eEPTEt�BA 30� 1996 I�CCRUAL . IIN882TffilPf PUACH718& BTATSD "' yTM "' MATUAITY DAYS NUI�BA I88UBA D73'E BOOR VALUE FACB VALUS MARRST VALUS AATS 360 365 DATB TO 1111T ""___""""'__"""_"'___""_"___"""___"""""_"""'_"""_""_'_"""'_""""""""""'__"""'__'_""' PASSHOOR/C�CEING 25000 Benk of Americe-C�eckinq 379,646.22 0.000 0.000 0.000 24001 9enk of Americe-8avinge 18,710.71 2.000 1.973 2.000 "'""'__'__'"' __"__ ""'_' eUBTOTnLa and AVSAAG88 398,356.93 0.093 0.096 . _""""__"'"'___"_"""'_"""""_"__'_"_"_"'___"'_"""""""""" TOTAL CASH aatl INVEST6II�NT8 f 398,356.93 - � """..:..'�"..::....a"':..::."""""a"""......"""...��"'..:...:..:.: 2� 10/07/1996 Aadavolopmant AganCp - 6enasal . PM - 2 SPVSBTI�AT POATPOLIO 08TAILB - INV88TMEMffi ADA • BBPTBMBSA 30, 1996 ACCAVAL IPV&S7MENT PUACHA88 BTATSD --- YTM "' MATUAITY DAYB NVlIDBR I88UBR DATS HOOR V71LU8 PACB VALV& MAA1l8T VALUB AATB 360 365 DATS 1V [MT "'_"""___'__'__________'_""__"""""______"__""'__"_____"____'________'______'_____________'_____'_"_'__"_""____ LOCAL AGBNCY INV887T�ffiIiT PUNDB 21000 Lacel Agency Iavectmsnt Pun 5,681,060.39 5,681,060.39 5,681,060.39 S.SB7 5.510 S.S87 1 21001 Locel Agency Invectm�nt Pun 4,170,871.63 4,170,871.63 6,170,871.63 5.587 5.530 5.587 1 '_"""""" ""_"""___ """""_"' _"_" "'__' _""' SUBTOTALB and AVBAAG88 9,851,932.02 9,851,932.02 � 9,851�932.02 5.510 5.587 1 TREABURY SECURITIHB - COUPOIi - 17069 Unitae 8tatee Treaeuxy OS/20/96 2,003,786.06 2,000,000.00 2,006,375.00 6.125 5.905 5.987 03/31/98 S66 17070 Unitea etatee Treaeury OS/20/96 2,009,831.16 2,000,000.00 2,011,875.00 6.625 5.510 5.586 03/31/97 181 17071 Unitee etatae Treaaury 05/26/96 1,000,765.37 1,000,000.00 1,001,250.00 5.875 5.691 5.770 07/31/97 303 � 17072 Unitee Btatee Treaeuzy OS/26/96 999�196.08 1�000�000.00 999�687.50 5.750 5.769 5.B2B 09/30/97 366 17073 Unitee 8tetee Treaeuxy OS/26/96 1,006,391.99 1,000,000.00 1,006,875.00 7.500 5.622 5.697 01/31/97 122 17077 Unitee Statae Treaaury OS/30/96 987�670.57 1,000,000.00 987,812.50 5.000 5.900 4.983 O1/31/9B 687 "'_""'___" """"""" """"____" """ """ """ BUBTOTALB and AV&AAGSe - 8�007�629.21 8,011,875.00 8,000,000.00 5.698 5.777 361 '_'_"""""""'_""""""""""'_""'_"""__"""""'_"'"""""' TOTAL INV&87MENT8 and AVO. S 17,859,561.23 17,863,807.02 17�851�932.02 5.595t 5.672\ 153 ""'�"'�'.".......""""'.....�..""."""'......�......""""'..vv""" Z'�- 10/07/1996 Aedrvelopment Agancy - Oamral PM - 3 ' INVE9T!ffiPL PORTFOLIO DBTAILB - G8H ^ RDA ' BEPTBPID&R 30� 1996 �CCRUAL INV587MEfiT PURCfil188 . BTATBD "' YTM -" MA'fIiRITY D31Y8 NUMB&A I89UBR DATS BOOR VALUB FAC& VAL[78 MAR1�T VALUS AATS 360 365 DATS TO MAT """'_""""'_'_"___"""'_"""""__'_""__'_"""_'_""""""'_""_""'_""""""""""___"""""'_""_' CABH WITH TAUSTBB -PIRBT TAUeT 26006 Cae� w1t� Truetee 0.01 0.000 0.000 0.000 """""""""'_""'_""""""'_"""'_"""___""'_"""'_""'_"'_" TOTAL CA86 nnd INVEBTt�lPfB i 17,859,361.2C """"""�'�""'�""""""""".""'�""��""'��"'�"""'�"'��"""" Z� 10/07/1996 Eelf Halp Chackinq _ . PM - 3 ^ INV881T�NT PORTPOLIO DYTAILS - C118H ppJ� � 88PTBt�BR 30, 1996 ACCRUIS INV59TMENT PURCBA88 BTIITSD "' YTM --- M1ITURIT7( DAYB NUFIDEA IBBUSR DATS HOOR VALUS PACS VALVB MAA1�T VALVS PAT6 360 365 DAT& TO MAT _____""___________"______'_"_"__'______""""""_"'____"__""'_"""_""_____"__""'_'_"__'__'___"""'__"_'____ PA8SH00&/C�CRING 25002 H of A - Belf Help Chacking 17�262.16 0.000 0.000 0.000 """""""""'_'_"_'_""""_""""""_""""""""""""""""" TOTAL CASB anC INV88Tt�1Pf8 1 17,262.16 ' ::::..:.:a...."""..................:......."'.:.............."'.:aaa.n::......� Zy _ _I _ _ __ _ _ _ __ _ � _._ ____ _ �� , � e _ � _ < _____. _ .-- — —_ __. $ v.�� r— � s�ea�w _ ea[SWY 6 1 iea610l E 3 .. . Y 8 sieaREa1Z T �, � f � T`p Y C y ¢ilI i W 4 �E a C � .. . q m = � :Q �4 a '•a� � i m � sa�w a E� � � � � < ' L l 019 p a O 0 � . . . � $ �n � $ O .: . 5yiww p a � � Y w 6 9olE d F ) F Y swww p , $ .. '�. � EWi = � � s�puaw � �. . . . ZWl — � � ym ' ��ey�sai 8 �e � � . .' � � r ry _ ` a P�34^% � � v U � � Z ¢ � �O m ° ' z z� io � ' wam � _._, o ,, � E LL m r a � W �a" � w .� „ � ' � S >r w . _ _ '� -- �w � uoin�v �8 $ �� w $ � v�a ' w�uwi _ _. _ ... .._ I ____ .,_ _. . _ __ _ _ ._ _ . ..._:. � z � E ........ .. _._..__.. a 0 0 0 $ o a°'o o $ g e � � "� "� S < ��' � ° � � g � � � rn � m L � ��,�� «,� < � U O O O N 1 f 1 O N G 0 N � � N `" � � 0000 t00 c0 V � s , _ p) O O O N 1� O t0 IN V fG O l0 W^ (A f� M N l� 0 � II1 fV 1� ti A O I� N O GD l0 Vq - .. � (NO �fl � � � NUmD V NOI �" �S . O Np� Ip W V N N � � f9(A�� QI �t0 a° uy¢ � Q . dw � w w r 3� .. :ce w " g �n i W (p OOOON � NY .�- N � Ori - � Of O Ip�� O tV In �D UD Ul Vep GO O 4D � LL m � �W �0I O N � O t0 � O � � r� v � � o t�D..�- � o v �N � `»� � > < '� M V! �i .. O � W f9� W �M mW s � � w > O � Q � d� i Z� 6 1 F $ C � j O r a a n o m o a o w • �b a a aa U 0 c c v ' d ❑ �9 T T � 0 U� ' E N d C C 7 V N y �� • � � N q N N p � 7 ' U � N c o� o�V � tD � a�p ' N a ¢ � V �� v�i b w � �N ~ ��. L � U Y �V N LL d d N N N p C � . a r — 9 � v m w m m a° ciuSQ �" LL � mt� � 3 x _ . _ o � o � � e m � � � � - - --_ _ _ STATE OF CALIFOFNIA MA1T FONG,Treasurer OFFICE OF THE TREASURER - � SACRAMENTO 'i. LOCAL AGfiNCY INVESTMENT FUND P.O. BOX 942809 Date: 08/31/96 SACRAMENTO, CA 94209-Op01 Page: O1 AUGUST, 1996 STATEMENT ACCOUNT NUMBER: 98-33-621 CITY OF PALM DESERT ATTN: CITY TREASURER 73510 FRED WARING DRIVE PALM DESERT CA 92260 EFFECTIVE TRANSACTION TRAN CONF AUTH TRANSACTION DATE DATE TYPE NO CALLER AMOUNT BALANCE --------- ----------- ---- ------ ------ --------------- --------------- BEGINNING BALANCE - REG $16,629,609.92 08/14/96 08/14/96 RW 705 JER -$600,000.00 $16,029,609.92 08/22/96 08/22/96 RW 706 JER -$2,200,000.00 $13, 829,609.92 08/26/96 OS/26/96 RD 707 JER $3,000,000.00 $16,829,609 .92 --------------- ENDING BALANCE - REG $16,829�609.92 --------------- GRAND TOTAL $16,829,609.92 --------------- --------------- SIJI�iARY TRAN COUNT TOTAL DEPOSIT AMT TOTAL WITHDRAWAL AMT ---------- ----------------- -------------------- REG 3 $3,000,000.00 -$2,800,000 .00 m �' cn - ' rn ' `� CC: BARBARA WRIGHT � �' � '* INVESTMENT & FINANCE COMMITTEE �'`� "' T � � � J._ r+t r- b D i � � G -� m 1--� rl �'T� W � a O -1 "i .. . ._. . _. .. ... . . . . .. ... . . . . __._ ._. .._ ....... .. _. _... . .. .. _.. .. State of California Pooled Money Investment Account Market Valuation 8/30/96 3 t:3 ; < �'. .t 1i"n*i�'"'.�R�SSK�Y'f'�i�� '� t?�4�S ) t ' (�: �. : ..x .s r �x�yqF y� r x.�...n ��'� ��r�;� � '�'n:y�i sz¢ s ,�y s s �(� : }.,, „�i;h3��d�KY3`�'"�n��'r�i�� i3�3�`� 3�.''s��il� S< t>�.Ef!'a�'`i{eii'��dAl��gt�� . ..,, , ..;.� . ... . .... .. . .. :.:. .. ........_... .............. UnHed States Treasu : Bills S 2,401,069,042.99 $ 2,456,987,050.00 NA Stri S 309,528,280.00 S 355,188,460.00 NA Notes y 5,293,796,886.41 S 5,205,262,305.00 3 43,277,187.67 Federel A enc : Bonds y 752,826,699.69 $ 746,341,630.00 $ 7,483,315.33 Floaters $ 454,928,512.73 $ 455,539,450.00 $ 9,218,833.65 MBS $ 164,017,728.66 $ 156,701,917.97 $ 968,371.24 NA S 29,924,691.38 $ 29,982,343.70 $ 719,008.92 GNMA $ 4,059,363.04 $ 4,495,905.85 $ 38,697.36 SBA S 123,563,564.03 $ 124,991,725.24 $ 1,254,396.32 FHLMC PC $ 33,887,540.42 S 36,061,123.51 $ 544,227.33 Discount Noles y 374,004,701.39 y 375,600,700.00 NA Bankers Acce tances $ 298,198,295.85 $ 298,548,179.37 NA Co rate: Bonds $ 1,447,220,484.03 $ 1,436,401,986.17 $ 30,195,183.53 Floaters $ 560,760,942.27 $ 580,881,482.50 $ 5,919,038.12 CDs 5 5,165,016,893.59 S 5,207,332,365.86 $ 6,750,141.93 Bank Notes $ 960,106,971.27 3 973,164,154.60 $ 1,937,452.78 Re urchase A reements $ 200,000,000.00 S 200,000,000.00 NA Time De osits $ 340,995,000.00 $ 340,995,000.00 NA AB 55 8 GF Loans $ 1,842,349,978.00 $ 1,842,349,978.00 NA Commercial Pa er $ 6,807,889,686.07 $ 6,817,305,229.42 NA Reverse Re urchase y 405,500,000.00 $ 405,500,000.00 $ 1,524,833.33 TOTAL $ 27,178,643,261.84 $ 27,238,630,987.18 $ 106,715,020.86 Estimated Market Value Including Accrued Interest $ 27,345,346,008.04 NOTE: Repurchase Agreements, Time Deposits, AB 55 & General Fund loans, and � Reverse Repurchase agreements are carried at portfolio book value (carrying cosq. � ' � � : � rn �' � Certificates of Deposit (CDs), Bank Notes (BNs), and Commercial Paper(CPs) less v �, � than 90 days are cartied at portfolio book value (carrying cost). Interest accrued �-^� "' T o � from the date of purchase on CDs and BNs under 90 days is not included. n ;= -o D � � � :� c� —1 m E--a - „. ri rn W � � O � � _ . _ ._. _.._ . .. P(�.iLED MONEY INVESTMENT ACCvUNT C17Y OF PA.LM D[�L'RT SUMMARYOFINVESTMENTDATA FINANC€ DEPART��[t�T '96 SEP 30 P(�A1C�j1�iPARISON OF AUGUST 199G WITI3 AUGUST 1995 � (Dollars in Thous�nds) AUGUST 1996 AUGUST7995 CHANGE . Average D�ily Portfolio $25,156,86G $25,261,428 +�Z,g95,438 Accrued Earnings $133,116 $126,448 +$6,668 Efl'ective Yield 5.5G6 5.910 - .344 Average Life--Mon[h End (in days) 258 300 -42 To[al Security Transactions Amaunt $15,881,484 $24,323,070 -58,441,586 Numbcr 391 5G4 - 173 Total Time Deposit Trans�ctions Amount $343,200 $194,695 +$148,505 Number 2G 2l + 5 Average Workday Imes[ment Ac(ivity 5737,486 51,065,990 -$328,504 Prescribed Demind Accouut Balanccs For Services $126,379 $142,310 -$15,931 For Uncollected Funds $157,925 $155,891 +$Z,034 LOCAL AGENCY INVESTMENT FUND* SUMMARY OF ACTIVITY , AUGUST 199G BEGINNING BALANCE DEPOSITS WITHDRAWALS MONTH END BALANCE $10,265,236,388.49 $1,03G,4G9,000.00 $1,104,153,781.40 $1Q197,551,607.09 "Loc�l Agenry Imestment Fund Inves�ed Througli Pooled Moncy Investment Account STATE OF CALIFORNIA MATT FONG,Treas�rer OFFICE OF THE TREASURER SACRAMENTO _p� LOCAL AGENCY IN1/ESTMENT FUND P.O. BOX 942809 Date: 08/31/96 SACRAMENTO, CA 94209-0001 PBge: O1 AUGUST� 1996 STATEMENT ACCOUNT NUMBER: 65-33-015 PALM DESERT REDEVELOPMENT AGENCY ATTN: PAUL GIBSON, TREASURER 73-510 FRED WARING DRIVE PALM DESERT CA 92260 EFFECTIVE TRANSACTION TRAN CONF AUTH TRANSACTION DATE DATE TYPE NO CALLER AMOUNT BALANCE --------- ----------- ---- ------ ------ --------------- --------------- BEGINNING BALANCE - REG $6, 276,060.39 08/02/96 O8/02/96 RD 705 JER $1,415,000.00 $7,691,060.39 OS/22/96 08/22/96 RW '706 JER -$825,000.00 $6,866,060.39 --------------- ENDING BALANCE - REG $6,866,060.39 --------------- GRAND TOTAL $6,866,060.39 SUMMARY TRAN COUNT TOTAL DEPOSIT AMT TOTAL WITHDRAWAL AMT ---------- ----------------- _-_----------------- REG 2 $1,415,000.00 -$825,000.00 co -� ., m _ _� o � � � CC: BARBARA WRIGHT --+ � a' INVESTMENT & FINANCE COMMITTEE r^ � � N c� r_ m f— —O � � ;o c+ —1 m N m m � � W � -� � . . _. ... ._. .. . . . . . . .. _ _ _.. Pl, �LED MONEY INVESTMENT ACI...UNT CITY OF I'�;LM �ESER? SUMMARYOFINVESTMENTDATA FINANCE DENARTh1Ct7T A COMPARISON OF AUGUST 199G WITEI AUGUST 1995 '96 OCT 2 Pf� 2 37 (Dollars in Thuus:mds) AUGUST 199G ' AUGUST 1995 CHANGE Average Daily Port(olio $28,156,866 525,261,428 +$2,895,438 Accrued Earnings $133,11 G $126,448 +$6,668 Effective Yield 5.566 5.910 -.344 Average Life--Month End(in days) 258 300 -42 Total Security Transactions Amount $15,881,484 $24,323,070 -$8,441,58G Number 391 SG4 - 173 Total Time Deposit Transactions Amount �343,200 $194,695 +$148,505 Number 2G 21 +5 Average Workday Investment Activity a737,486 $1,065,990 -$328,504 Prescribed Demand Account Bal�nces For Services $126,379 $142,310 -S 15,931 For Uncollected Funds $157,925 $155,891 +$Z,034 LOCAL AGENCY INVESTMENT FUND* SUMMARY OF ACTIVITY AUGUST 1996 BEGINNING BALANCE DEPpSITS WITHDRAWALS MONTH END BALANCE $10,265,236,388.49 $1,03G,469,000.00 $1,104,153,781.40 �� $10,197,551,607.09 �Local Agency Investment Fund Invested Through Pooled Moncy Investment Account _ __ _ _ _._ GI1Y OF Pr:LM DL:aFRT FI ARTl.�EtIT '9 OCT 2 P(� 2 3? State of California Pooled Money Investment Account Market Valuation 8/30/96 f r'aax x i� � � ��i�y€�S'�3,��q�h��l�/��;�r��'�y��ry��h'"y"�,i� .�,s��y�St��_3a3Ki h �;.�r��raa -- },,, . ♦ �.. ... .a .,.'.�� .�,','��'7�`�� k;,��3FV�17i'.i�3#�'��Sr1M��i1�33E� ��S��iC{��Al��s4�:��-. UnRed States Treasu : Bills y 2,401,069,042.99 S 2,456,987,050.00 NA Stri 3 309,526,280.00 S 355,188,460.00 NA Notes S 5,293,796,886.41 E 5,205,282,305.00 $ 43,211,187.67 Federal A enc : Bonds a 752,826,699.69 a 746,341,630.00 $ 7,483,315.33 Floaters 3 454,928,512.73 3 455,539,450.00 S 9,218,833.65 MBS $ 164,017,728.68 $ 156,701,917.97 $ 968,371.24 NA E 29,924,691.38 $ 29,982,343.70 $ 719,008.92 GNMA a 4,059,363.04 y 4,495,905.85 $ 38,697.36 SBA E 123,563,564.03 $ 124,991,725.24 $ 1,254,396.32 FHLMC PC $ 33,887,540.42 3 36,061,123.51 $ 544,227.33 Discount Notes y 374,004,701.39 y 375,600,700.00 NA Bankers Acce tances y 298,198,295.65 $ 298,546,179.37 NA Co rate: Bonds � 1,447,220,484.03 3 1,436,401,986.17 $ 30,195,183.53 Floalers $ 580,760,94227 $ 580,881,482.50 S 5,919,038.12 CDs $ 5,165,016,893.59 $ 5,207,332,365.86 $ 6,750,141.93 Bank Notes $ 960,106,971.27 E 973,164,154.60 $ 1,937,452.78 Re urchase A reements $ 200,000,000.00 $ 200,000,000.00 NA Time De sits $ 340,995,000.00 $ 340,995,000.00 NA AB 55 & GF Loans $ 1,842,349,978.00 $ 1,842,349,978.00 NA Commercial Pa er $ 6,807,889,686.07 $ 6,817,305,229.42 NA Reverse Re urchase y 405,500,000.00 $ 405,500,000.00 $ 1,524,833.33 TOTAL $ 27,178,643,261.84 $ 27,238,630,987.18 $ 106,715,020.86 Estimated Market Value Including Accrued Interest S 27,3a5,3as,008.oa NOTE: Repurchase Agreements, Time Deposits, AB 55 & General Fund loans, and Reverse Repurchase agreements are carried at portfolio book value (carrying cost). Certificates of Deposit (CDs), Bank Notes (BNs), and Commercial Paper(CPs) less than 90 days are carried at portfolio book value (carrying cost). Interest accrued from the date of purchase on CDs and BNs under 90 days is not included. 'c STA7E OF CAUFORNIA MATT FONG Treas�rer OFFICE OF THE TREASURER SACRAMENTO _�; LOCAL AGENCY INVESTMENT FUND P.O. BOX 942809 Date: OS/31/96 SACRAMENTO, CA 94209-0001 Page: O1 AUGUST, 1996 STATEMENT ACCOUNT NUMBER: 11-33-002 AB3107 PALM DESERT REDEVELOPMENT AGENCY ATTN: PAUL GIBSON, TREASURER 73-510 FRED WARING DRIVE PALM DESERT CA 92260 EFFECTIVE TRANSACTION TRAN CONF AUTH TRANSACTION DATE DATE TYPE NO CALLER AMOUNT BALANCE --------- ----------- ---- ------ ------ --------------- --------------- BEGINNING BALANCE - INT $170,871 .63 --------------- ENDING BALANCE - INT $170� 871 .63 CC: BARBARA WRIGHT INVESTMENT & FINANCE COMMITTEE � rn cn i- < rn �_ � -c� c; -.i W m � O o J-- m r -c� :— -v r ' � � c" � i�i ~ m r*� � � � t-� STATE OF CALIFORNIA MATT FONG, Treasuier OFFICE OF THE TREASURER SACRAMENTO �� LOCAL AGENCY INVESTMENT FUND P.O. BOX 942809 Date: 08/31/96 SACRAMENTO, CA 94209-0001 Page: 02 AUGUST, 1996 STATEMENT BOND PROCEEDS ACCOUNT NUMSER: 11-33-002 EFFECTIVE TRANSACTION TRAN CONF AUTH TRANSACTION DATE DATE TYPE NO CALLER AMOUNT BALANCE --------- ----------- ---- ------ ------ --------------- --------------- BEGINNING BAT,ANCE - B/P $4,000,000.00 B/P ID: 8902071 MATURITY DATE; 09/04/96 BEG BAL: $4,000,000.00 END BAL: $4,000,000.00 --------------- ENDING BALANCE - B/P $4,000,000.00 ENDING BALANCE - INT � $170,871 . 63 --------------- GRAND TOTAL $4, 170,871 .63 SUMMARY TRAN COUNT TOTAL DEPOSIT AMT TOTAL WITHDRAWAL AMT ---------- ----------------- -------------------- INT 0 $0.00 $0.00 B/P 0 $0.00 $0.00 ---------- ----------------- -------------------- TOTAL 0 $0.00 $0.00 � --, � cn "> � rn —v � nCa W m � O r-p � ^� r � n � 3 A ry � m �a �� C: m r*t W ' A � � 1 ._ _. . .___ . . .. . ... �. - - ; � �� :.. '�t�. , ;�, , M}r� - 4 �` � - .. � ."c ' w �y�� ±I�"�+s : ,l'i wP�'JF 1� . '�y b.�".` . .'. _ 3� y��A <"^'„.�..'...+y" .:v "r r _ �G�.+.. ` ��:y;� ♦ � . � � ..�.�� . .. _. ^J'`^./ Ay..9�y ..�� a WiaY�.�'�� . �� \ � Q `.� ��!.� ✓-• ... . �. \:>,y. � ' `�y - � .. ,, ,�, -a �...":;, �. r-� �-._,. f-. �� - v j /� `� �'��' �— , ` < ,�y.��, �-.�� " �' ' `� r s(,�:��'��`�, �"c ,��,y'^ �. '`•,. Civio Cente�.Park � -_ �� +� y E�r ��`� .. E ., ^� � �� _ � �'� .. . � -f J.,,flvir-r�rtrr� �" �� ` : �- ,5��_k.,� t ,4=..tf ",:, ��s •�,, 1�` �'�� y % � �4Et � ♦ �,�V.+ �`R � ,M�� !,�. ' .��/�.L „rt '��• \`'C.`.��'i74�i.�' / ,'�..� ��:o.i1s^ �/�. �t � ''��.y� . . ��"- � 5., �� .c�� ;'¢ � -�1't�y \�' �... . � � ,,� . i:, _.r' ��'w ri� I,'�'1 i VIJ 1r�. 7 �t f r r,�f��7�� ', j� �. � �� f ��`� �r.rlrrrrii� r.r'r�rr ��' � � r'�"�a�� ~/ �`� ��,�y�,,��-f�wr�� ,�+• �� Y ,� . .� � .:r— ' .,_ �q�v'�� ♦ � *' ��. F��'^, �\� .. ��/��' . �� s. �. .��r� �-r" '- , �� :. � ��>".'�-� o <�� ' � � � � � t � PALM DFSERT OFFICE COMPI.EX FINANCIAL ST'ATEMENTS JULY 31, 1996 �n � � o� cn = " n� -o � <� F--� r� , CJ �-� ;'� n = --� � �� ,� �� -i r ; N � n nt �� -s� u� � .1 . ...._ _. _ . . . . . . . . . ._. . .. . . __ . OSCAR G. AF ;O O!"` A Certified Public Accountan[ L7L] 74-133 EL PASEO, SUITE 8 • PALM DESERT, CALIFORN[A 92260 • (619)773-4078 • FAX (6t9)773-4079 September 13, 1996 Palm DeseR Office Complex Palm Desert, California I have compiled the accompanying balance sheet of Palm Desert Office Complex, as of July 31, 1996, and the related income statement and statement of cash flows for the seven months then ended, in accordance with statemenu on standazds for accounting and review services issued by the American Institute of Certified Public Accountants. A compilation is limited to presenting in the form of financial statements information that is the representation of management. I have not audited or reviewed the accompanying fiaancial statements and; accordingly, do not express an opinion or any other form of assurance on them. Management has elected to omit substantially all of the disclosures required by generally accepted accounting principles. If the omitted disclosures were included in the financial statements, they might influence the user's conclusions about the organization's financial position, results of operatioas and cash flows. Accordingly, these financial statemenu aze not designed for those who aze not informed about such matters. Sincerely, � �� Oscaz G. Armijo Certified Public Accountant MEMBEA MEMBER Cadjornta Sot(ety of Amerrcan/nstllute of Certijted Pub!(t Atcountanfs CerlfjieQ Pub!!c AccountaMs .. ___ .._._ .. _ . . . . . .. . . _.._.... ___... Palm Desert Office Complex Balance Sheet July 31, 1996 Assets Current Assets Cash in Bank-Reserve Account $ 27, 941. 39 Cash in Bank 270, 020. 36 Cash in Sank -Security Deposit 25, 667.21 Total Current Assets $ 323, 628.96 Fixed Assets Building 444 2 , 585, 000. 00 Accumulated Depreciation (44, 188. 00) Building 555 1, 085, 000. 00 Accumulated Depreciation (18, 546. 40) Building Improvements-Bldg 444 82, 420. 02 Accumulated Depreciation ( 457 .89) Total Fixed Assets 3 , 689,227.73 Total Assets $ 4 , 012 ,856. 69 See Accountants' Compilation Report ___ _ _ _ Palm Desert Office Complex Balance Sheet July 31, 1996 Liabilities and Equity Current Liabilities Security Deposit Payable $ 25, 600. 00 Deferred Revenue 1, 000. 00 Total Current Liabilities $ 26, 600. 00 Long Term Liabilities Equity Eqtlity 3 , 670, 000. 00 Retained Earnings 19, 968. 83 Current Income (Loss) 296,287 .86 Total Equity 3 , 986,256. 69 Total Liabilities & Equity $ 4, 012 ,856. 69 See Accountants' Compilation Report _ __ _ Palm Desert Office Complex Income Statement For the Period Ended July 31, 1996 1 Month Ended 7 Months Ended Jul. 31, 1996 PCt Jul. 31, 1996 PCt Revenue Rent Receipts $ 67, 319.71 99. 63 $ 512, 553 . 25 99.76 Other Income 0. 00 0.00 263 . 49 0. 05 Interest Income-Security 21. 11 0.03 280. 23 0. 05 Interest Income-General 231. 07 0. 34 691. 87 0. 13 Total Revenue 67, 571. 89 100. 00 513 ,788 . 84 100. 00 Operating Expenses Insurance 4 , 280. 00 6. 33 6, 052 . 08 1. 18 Office Expense 0. 00 0. 00 354 . 38 0. 07 Office Maintenance 0. 00 0. 00 1, 099 . 00 0.21 Repairs & Maintenance-Di 427. 34 0. 63 3 , 525.73 0.69 Repairs & Maintenance-Bu 372 .84 0.55 6,731.95 1. 31 Repairs & Maintenance-Ja 4 , 078 . 90 6. 04 22, 043 . 30 4 . 29 Landscaping 525. 00 0. 78 5, 921. 00 1. 15 Professional Services 8, 000. 00 11. 84 47, 387. 22 9.22 Repairs and Maintenance 0. 00 0. 00 1, 351.84 0.26 Property Taxes 0. 00 0. 00 39, 568 . 11 7.70 Telephone 175.94 0. 26 1, 659 . 35 0.32 Security 590. 00 0.87 990. 00 0. 19 Utilities 6, 614 .70 9 .79 25, 466. 53 4. 96 Total Expenses 25, 064 .72 37 . 09 162 , 150.49 31. 56 Operating Income 42 , 507 . 17 62 . 91 351, 638. 26 68.44 Depreciation Expense 8 , 299 . 69 12 .28 55 , 350. 49 10.77 Total Other Income (8 , 299 . 69) ( 12 .28) (55, 350. 49) ( 10.77) Net Income (Loss) $ 34 , 20� .48 50. 62 $ 296, 287 . 86 57. 67 See Accountants' Compilation Report Palm Desert Office Complex Statement of Cash Flows For the Period Ended July 31, 1996 Increase (Decrease) in Cash or Cash Equivalents 1 Month Ended 7 Months Ended Jul. 31, 1996 Jul. 31, 1996 Cash Flow from Operating Activities Net Income (Loss) $ 34,207. 48 $ 296,287 .86 Adjustments to Reconcile Cash Flow Depreciation 8, 299. 69 55, 350.49 Decrease (Increase) in Current Assets Receivable From Escrow 0. 00 34, 862 .05 Increase (Decrease) in Current Liabilities Escrow Reserve 0. 00 (154, 130.55) Security Deposit Payable 0. 00 25, 600.00 Deferred Revenue ( 500. 00) (1, 100.00) Total Adjustments 7,799. 69 (39,418 .01) Cash Provided (Used) by Operations 42, 007. 17 256, 869.85 Cash Flow From Investing Activities Sales (Purchases) of Assets Accumulated Depreciation (17, 268 . 00) (82 ,420. 02) Cash Provided (Used) by Tnvesting (17, 268. 00) (82, 420. 02) Cash Flow From Financing Activities Cash (Used) or provided by: Retained Earnings 0. 00 ( 4 ,951. 42) Cash Provided (Used) by Financing 0. 00 ( 4 , 951.42) Net Increase (Decrease) in Cash 24,739. 17 169, 498.41 Cash at Beginning of Period 298,889. 79 154 , 130. 55 Cash at End of Period $ 323 , 628 .96 $ 323 , 628. 96 See Accountants' Compilation Report - _ _ __ _ _ _ 9/10/96 Palm Desert Office Complex Company: : PDB 12: 15 Regular Trial Balance Page: 1 1 Month Ended 7 Months Ended Account � Type Description Jul. 31, 1996 Jul. 31, 1996 --------- ---- ------------------------------ --------------- --------------- 102 A Cash in Bank-Reserve Account 3 , 340. 99 27,941.39 110 A Cash in Bank 21,377 . 07 270, 020.36 112 A Cash in Bank -Security Deposit 21. 11 25, 667.21 151 A Building 444 0. 00 2, 585, 000.00 152 A Accumulated Depreciation -5, 523 . 50 -44, 188.00 153 A Building 555 0. 00 1, 085,000. 00 154 A Accumulated Depreciation -2, 318 . 30 -18,546.40 157 A Building Improvements-Bldg 444 17, 268 . 00 82,420.02 158 A Accumulated Depreciation -457 . 89 -457.89 203 L Security Deposit Payable 0. 00 -25, 600. 00 211 L Deferred Revenue 500. 00 -1, 000.00 280 L Equity 0. 00 -3 , 670, 000. 00 281 L Retained Earnings 0. 00 -19, 968.83 301 R Rent Receipts -67, 319 .71 -512 ,553 .25 302 R Other Income 0. 00 -263.49 303 R Interest Income-Security Dpsts -21. 11 -280.23 304 R Interest Income-General Chckng -231. 07 -691.87 650 E Depreciation 0. 00 7, 841.80 680 E Insurance 4, 280. 00 6, 052. 08 710 E Office Ex�ense 0. 00 354. 38 711 E Office Maintenance 0. 00 1, 099. 00 712 E Repairs & Maintenance-Disposal 427 . 34 3 ,525.73 713 E Repairs & Maintenance-Building 372 . 84 6,731.95 714 E Repairs & Maintenance-Janitor 4, 078. 90 22, 043 .30 715 E Landsca�ing 525. 00 5,921.00 723 E Professional Services 8 , 000. 00 47,387 .22 730 E Repairs and Maintenance 0. 00 1, 351. 84 756 E Property Taxes 0. 00 39, 568. 11 760 E Telephone 175.94 1, 659.35 765 E Security 590. 00 990. 00 775 E Utilities 6, 614. 70 25,466.53 812 E Depreciation Expense 8, 299 . 69 47,508 . 69 --------------- --------------- Account Balances 0. 00 0. 00 --------------- --------------- --------------- --------------- Current Profit 34,207.48 Y-T-D Profit 296, 287. 86 r � �r' c : `� i_i u N t. �- �� n= C L -� lJ � � �7 •� lJ �� U u -_ W r -_ � �- .' - - t^ � � � 9/SO/96 Palm Desert Office Complex Company: PD 12: 15 General Ledger - Period Ending 7/31/96 Paqe: Date Mt Ref � Account Description Current Year-To-Date -------- -- ------ --------- -------------------- ------------- ------------- Seginning Balance 102 Cash in Bank-Reserve Account 24, 600. 40* 7/31/96 7 JE3 102 Rent Reserves 3, 340. 99 Ending Balances = 3 , 340. 99* 27, 941. 39* Beginning Balance 110 Cash in Bahk 248, 643 .29* 7/31/96 7 JE2 110 Cash in Bank 66, 819. 71 7/31/96 7 JE3 110 Cash in Bank -3 , 340.99 7/31/96 7 JE4 110 Cash-General 231. 07 7/31/96 7 CD7 110 Cash Disbursements -42 , 332 . 72 Ending Balances = 21, 377 . 07* 270, 020.36* Beginning Balance 112 Cash in Bank -Security Deposit 25, 646.10* 7/31/96 7 JE4 112 Cash-Security 21. 02 Deposits 7/31/96 7 JE6 112 Cash 0. 09 Ending Balances = 21. 11* 25, 667.21* Beginning Balance 151 Building 444 2, 585, 000. 00* Ending Balances = 0. 00* 2,585, 000. 00* Beginning Balance 152 Accumulated Depreciation -38, 664.50* 7/31/96 7 JE1 152 Accum. Depreciation -5, 523 . 50 Ending Balances = -5, 523 . 50* -44, 188. 00* Beginning Balance 153 Buildinq 555 1, 085, 000. 00* Ending Balances = 0. 00* 1, 085, 000. 00* Beginning Balance 154 Accumulated Depreciation -16,228. 10* 7/31/96 7 JE1 154 Accum. Depreciation -2 , 318 . 30 Ending Balances = -2, 318 . 30* -18,546.40* Beginning Balance 157 Building Improvements-Bldg 444 65, 152 .02* 7/17/96 7 1104 157 Hugh Hoard Znc. 17,268 . 00 Ending Balances = 17, 268 . 00* 82, 420. 02*� Beginning Balance 158 Accumulated Depreciation 0. 00* 7/31/96 7 JE5 158 Accum. Depreciation -457. 89 Ending Balances = -457 . 89* -457.89* Beginning Balance 203 Security Deposit Payable -25, 600. 00* Ending Balances = 0. 00* -25, 600. 00*� Beginning Balance 211 Deferred Revenue -1,500. 00* 7/31/96 7 JE2 211 Deferred Rent 500. 00 Ending Balances = 500. 00* -1, 000. 00* Beginning Balance 280 EquitX -3 , 670, 000. 00* Ending Balances = 0. 00* -3 , 670, 000. 00* _ _ _ - _ 9/10/96 Palm Desert office Complex Company: PDI 12: 15 General Ledger - Period Ending 7/31/96 Page: . Date Mt Ref � Account Description Current Year-To-Date -------- -- ------ --------- -------------------- ------------- ------------- Beginning Balance 281 Retained Earnings -19,968.83* Ending Balances = 0. 00* -19,968 .83*� Beginning Balance 301 Rent Receipts -445,233 .54* 7/31/96 7 JE2 301 Rent Revenue -67, 319 .71 Ending Balances = -67, 319 .71* -512,553 .25*� Beginning Balance 302 Other Income -263 .49* Ending Balances = 0. 00* -263 .49*� Beginning Balance 303 Interest Income-Security Dpsts -259. 12* 7/31/96 7 JE4 303 Interest-Security -21. 02 Deposits 7/31/96 7 JE6 303 Interest-SD -0. 09 Ending Balances = -21. 11* -280.23*- Beginning Balance 304 Interest Income-General Chckng -460.80* 7/31/96 7 JE4 304 Interest-General -231. 07 Ending Balances = -231. 07* -691.87*- Beginning Balance 650 Depreciation 7,841.80* Ending Balances = 0. 00* 7,841.80*- Beginning Balance 680 Insurance 1,772. 08* 7/17/96 7 1103 680 CV Insurance Service 4 , 280. 00 Ending Balances = 4, 280. 00* 6, 052. 08*� Beginning Balance 710 Office Expense 354. 38* Ending Balances = 0. 00* 354. 38*� Beginning Balance 711 Office Maintenance 1, 099 .00* Ending Balances = 0. 00* 1, 099 . 00*� Beginning Balance 712 Repairs & Maintenance-Disposal 3 , 098. 39* 7/9/96 7 1101 712 Waste Management of 51. 26 the Desert 7/17/96 7 1109 712 Waste Management of 376. 08 the Desert Ending Balances = 427. 34* 3 ,525.73* Beginning Balance 713 Repairs & Maintenance-Building 6, 359. 11* 7/9/96 7 1095 713 Paragon Signs 145. 47 7/9/96 7 1100 713 The Lock Shop Inc. 75. 37 7/17/96 7 1111 713 Dewey Pest Control 152 . 00 Ending Balances = 372 . 84* 6,731. 95*• Beginning Balance 714 Repairs & Maintenance-Janitor 17,964 . 40* 7/9/96 7 1096 714 Desert Business 690. 00 Services -. _ 9/10/96 Palm Desert Office Complex Company: PDE 12: 15 General Ledger - Period Ending 7/31/96 Page: = Date Mt Ref # Account Description Current Year-To-Date -------- -- ------ --------- -------------------- ------------- ------------- 7/1�/96 7 1106 714 Desert Building 3, 388 . 90 Service Ending Balances = 4, 078. 90* 22, 043. 30*� Beginning Balance 715 Landscaping 5,396. 00* 7/9/96 7 1097 715 Sir Michael's 525. 00 ' Enter�rises Ending Balances = 525. 00* 5,921. 00** Beginning Balance 723 Professional Services 39, 387.22* 7/9/96 7 1093 723 Mason & Mason 6, 000. 00 7/9/96 7 1094 723 Oscar G. Armijo, CPA 2 , 000. 00 Ending Balances = 8, 000. 00* 47, 387.22*� Beginning Balance 730 Repairs and Maintenance 1, 351.84* Ending Balances = 0. 00* 1,351.84* Beginning Balance 756 Property Taxes 39, 568. 11* Ending Balances = 0. 00* 39,568. 11*� Beginning Balance 760 Telephone 1,483 .41* 7/9/96 7 1102 760 GTE 172 . 10 7/17/96 7 1105 760 AT&T 3 .84 Ending Balances = 175.94* 1, 659. 35*� Beginning Balance 765 Security 400. 00* 7/9/96 7 1099 765 Get Alarmed Security 55. 00 7/17/96 7 1107 765 Get Alarmed Security 535. 00 Ending Balances = 590. 00* 990.00*� Seginning Balance 775 Utilities 18, 851.83* 7/9/96 7 1098 775 CV Water District 94 . 18 7/17/96 7 1108 775 AZ-Tech Electric 337 .20 7/17/96 7 1110 775 Southern Ca Edison 6, 183 .32 Ending Balances = 6, 614 .70* 25,466.53* Beginning Balance 812 Depreciation Expense 39,209 .00* 7/31/96 7 JE1 812 Depreciation 7, 841. 80 7/31/96 7 JE5 812 Depreciation 457 .89 Ending Balances = 8,299 . 69* 47, 508. 69* General Ledger is in balance 0.00* 36 Transactions Current Profit 34, 207. 48 Y-T-D Profit 296, 287. 86 _ _ _ 9/10/96 Palm Deserti Office Complex Company: PD 12: 15 Transaction Listing Page: Period Ending: 7/31/96 Date Mt Ref � Account Description Item Amt Ref Amt -------- -- ------- ---------- ----------------�_�� ------------- ------------ 7/31/96 7 JE1 152 Accum. Depreciation -5, 523 . 50 7/31/96 7 JE1 154 Accum. Depreciation -2 , 318 . 30 7/31/96 7 JE1 812 Depreciation 7,841.80 7/31/96 7 JE2 110 Cash in Bank 66,819.71 7/31/96 7 JE2 211 Deferred Rent 500. 00 7/31/96 7 JE2 301 Rent Revenue -67, 319 . 71 7/31/96 7 JE3 102 Rent Reserves 3 , 340. 99 7/31/96 7 JE3 110 Cash in Bank -3 , 340. 99 7/31/96 7 JE4 110 Cash-General 231. 07 7/31/96 7 JE4 112 Cash-Security Deposits 21. 02 7/31/96 7 JE4 303 Interest-Security Deposits -21. 02 7/31/96 7 JE4 304 Interest-General -231. 07 7/31/96 7 JE5 158 Accum. De�reciation -457 .89 7/31/96 7 JE5 812 Depreciation 457 . 89 7/31/96 7 JE6 112 Cash 0. 09 7/31/96 7 JE6 303 Interest-SD -0. 09 7/9/96 7 1093 723 Mason & Mason 6, 000. 00 6, 000.0 7/9/96 7 1094 723 Oscar G. Armijo, CPA 2 , 000. 00 2, 000.0 7/9/96 7 1095 713 Paragon Si�ns 145.47 145.4 7/9/96 7 1096 714 Desert Business Services 690. 00 690. 0 7/9/96 7 1097 715 Sir Michael's Enterprises 525. 00 525.0 7/9/96 7 1098 775 CV Water District 94. 18 94. 1 7/9/96 7 1099 765 Get Alarmed Security 55. 00 55. oi 7/9/96 7 1100 713 The Lock Shop Inc. 75. 37 75. 3 7/9/96 7 1101 712 Waste Management of the Desert 51. 26 51.2 7/9/96 7 1102 760 GTE 172 . 10 172 . 1 7/17/96 7 1103 680 CV Insurance Service 4 , 280. 00 4, 280. 0 7/17/96 7 1104 157 Hugh Hoard Inc. 17, 268 . 00 17, 268. 0 7/17/96 7 1105 760 AT&T 3 .84 3 .8 7/17/96 7 1106 714 Desert Building Service 3 , 388 . 90 3 , 388 .9� 7/17/96 7 1107 765 Get Alarmed Security 535 . 00 535. 0 7/17/96 7 1108 775 AZ-Tech Electric 337 . 20 337 .2• 7/17/96 7 1109 712 Waste Management of the Desert 376. 08 376. 0 7/17/96 7 1110 775 Southern Ca Edison 6, 183 . 32 6, 183 . 3. 7/17/96 7 1111 713 Dewey Pest Control 152 . 00 152 . 0 7/31/96 7 CD7 110 Cash Disbursements -42 , 332 .72 -42, 332 .7 36 Transactions For The Period Journal Balance 0 0 Account Number Control Total: 17640 ��. Palm Deeert Office Complex Eank Reconciliation for Account 149fr1-01948 For Month Ending July 1996 Beginning Balance 273,243.69 Add: Cash Receipte 66,819.71 Interest 731.07 Leae: Cash Disbtusemente 42,332.72 Sexvice Chazge - Ending Balance 297,961.75 Balance Per Bank 298,016.75 Deposite in Tranait - Less: Outatanding Checks 55.00 Ending Balance 297,961.75 Outstanding Check List Check Number Payee Amount 1099 Get Alazmed Security 55.00 Prepared by Oscar G. Armijo, CPA 8/23/96 Page 1 ,� Palm Deaert Office Complex Bank Reconciliation for Account 1496-301947 For Month Ending July 1996 Beginning Balance 25,646.19 Add: Cash Receipta - Intereat 21.02 Lees: Caeh Diebtuaements - Seivice CLuge - Ending Balance 25,667.21 Balance Per Bank 25.667.21 Deposite in Transit - Lese: Outatanding Checks - Ending Balance 25,667.21 Prepared by Oscar G. Armijo, CPA 8/23/96 Page 1 - _ __ _ _ _ -- _. PALM DESERT OFFICE COMPLEX FINANCIAL STATEMENTS AUGUST 31, 1996 co _, � m cn i- � rn � � o T � m w o -� r- -� - � - � a c -� r; N `' m r't � � � � � � OSCAR G. AF JO O('?e Ccrtified Public Accountant vc� 74-133 EL PASEO, SU[TE 8 • PALM DESERT, CAL[FORNIA 922Go • (619)773-4078 • FAX(Gt9)773-4079 September 13, 1996 Palm Desert Office Complex Palm Desert, California I have compiled the accompanying balance sheet of Palm Desert Office Complex, as of August 31, 1996, and the related income statement and statement of cash flows for the eight months then ended, in accordanCe with statements on standazds for accounting and review services issued by the American Institute of Certified Public Accountants. A compilation is limited to presenting in the form of financial statements information that is the representation of management. I have not audited or reviewed the accompanying financial statements and, accordingly, do not express an opinion or any other form of assurance on them. Management has elected to omit substantially all of the disclosures required by generally accepted accounting principles. If the omitted disclosures were included in the financial statements, they might influence the user's conclusions about the organization's financial position,results of operations and cash flows. Accordingly, these financial statements aze not designed for those who aze not informed about such matters. Sincerely, �/ -7./ Oscar G. Armijo Certified Public Accountant MEMBER MEMBER Calljornta Soctety of qmertcan lnstitute oj CerJtftee Pubdc Accountontr Certified Publlc Acrourstanu Palm Desert Office Complex Balance Sheet August 31, 1996 Assets Current Assets Cash in Bank-Reserve Account $ 24,786.43 Cash in Bank 312, 440. 99 Cash in Bank -Security Deposit 25, 688 . 95 Total Current Assets $ 362, 916. 37 Fixed Assets Building 444 2,585, 000. 00 Accumulated Depreciation (49 , 711.50) Building 555 1, 085, 000. 00 Accumulated Depreciation (20, 864 .70) Building Improvements-Bldg 444 82 , 420. 02 Accumulated Depreciation ( 915.78) Total Fixed Assets 3 , 680,928 .04 Total Assets $ 4 , 043 , 844.41 See Accountants' Compilation Report Palm Desert Office Complex Balance Sheet August 31, 1996 Liabilities and Equity Current Liabilities Security Deposit Payable $ 25, 600. 00 Deferred Revenue 500. 00 Total Current Liabilities $ 26, 100. 00 Long Term Liabilities Equity Equity 3 , 670, 000. 00 Retained Earnings 19, 968. 83 Current Income (Loss) 327 ,775. 58 Total Equity 4, 017, 744.41 Total Liabilities & Equity $ 4, 043 , 844.41 See Accountants' Compilation Report Palm Desert Office Complex Income Statement For the Period Ended August 31, 1996 1 Month Ended 8 Months Ended Auq. 31, 1996 Pct Auq. 31, 1996 PCt Revenue Rent Receipts $ 63 , 599. 21 99. 57 $ 576, 152 . 46 99.74 Other Income 0. 00 0. 00 263 .49 0. 05 Interest Income-Security 21.74 0. 03 301.97 0. 05 Interest Income-General 254 .90 0.40 946 .77 0.16 Total Revenue 63 , 875.85 100. 00 577 , 664. 69 100. 00 Operating Expenses Insurance 0. 00 0. 00 6, 052 . 08 1. 05 Office Expense 0. 00 0. 00 354. 38 0.06 Office Maintenance 0. 00 0. 00 1, 099 . 00 0. 19 Repairs & Maintenance-Di 452 . 97 0.71 3 ,978 .70 0. 69 Repairs & Maintenance-Bu 2, 156.48 3 . 38 8, 888 .43 1.54 Repairs & Maintenanc2-Ja 3 , 446.25 5. 40 25, 489. 55 4 . 41 Landscaping 1, 624. 79 2 . 54 7,545.�9 1. 31 Professional Services 10, 000. 00 15. 66 57, 387 .22 9.93 Repairs and Maintenance 0. 00 0. 00 1, 351. 84 0. 23 Property Taxes 0. 00 0. 00 39,568. 11 6.85 Telephone 376. 18 0.59 2 , 035.53 0. 35 Security 0. 00 0. 00 990. 00 0. 17 Utilities 6, 031.77 9. 44 31, 498 . 30 5.45 Total EXpenses 24, 088. 44 37.�1 186, 238 . 93 32 .24 Operating Income 39,787.41 62 .29 391, 425. 76 67. 76 Depreciation Expense 8 , 299 . 69 12 . 99 63 , 650. 18 11. 01 Total Other Income 8 299. 69) ( 12 . 99) (63 , 650. 18) ( 11. 01) Net Income (Loss) $ 31, 487 . 72 49 .30 $ 327,775. 58 56. 74 See Accountants' Compilation Report _ _-- _ Palm Desert office Complex Statement of Cash Flows For the Period Ended August 31, 1996 Increase (Decrease) in Cash or Cash Equivalents 1 Month Ended 8 Months Ended Aug. 31, 1996 Auq. 31, 1996 Cash Flow from Operating Activities Net Income (Loss) $ 31, 487 .72 $ 327,775.58 Adjustments to Reconcile Cash Flow Depreciation 8, 299. 69 63 , 650.18 Decrease (Increase) in Current Assets Receivable From Escrow 0. 00 34, 862 .05 Increase (Decrease) in Cuzrent Liabilities Escrow Reserve 0. 00 (154, 130.55) Security Deposit Payable 0. 00 25, 600.00 Deferred Revenue ( 500. 00) (1, 600.00) Total Adjustments 7 , 799. 69 (31, 618.32) Cash Provided (Used) by Operations 39, 287 . 41 296, 157. 26 Cash Flow From Investing Activities Sales (Purchases) of Assets Accumulated Depreciation 0. 00 (82 ,420. 02) Cash Provided (Used) by Investing 0. 00 (82, 420. 02) Cash Flow From Financing Activities Cash (Used) or provided by: Retained Earnings 0. 00 ( 4,951.42) Cash Provided (Used) by Financing 0. 00 ( 4, 951.42) Net Increase (Decrease) in Cash 39,287. 41 208,785.82 Cash at Beginning of Period 323 , 628 . 96 154 , 130.55 Cash at End of Period $ 362 , 916. 37 $ __362 , 916. 37 See Accountants' Compilation Report __ 9/12/96 Palm Desert Office Complex Company: ; pDg 07: 33 Regular Trial Balance Page: 1 1 Month Ended 8 Months Ended Account � Type Description Aug. 31, 1996 Aug. 31, 1996 --------- ---- ------------------------------ --------------- --------------- 102 A Cash in Bank-Reserve Account -3 , 154. 96 24,786.43 110 A Cash in Sank 42 , 420. 63 312,440.99 112 A Cash in Bank -Security Deposit 21.74 25, 688 ,95 151 A Building 444 0. 00 2 , 585, 000. 00 152 A Accumulated Depreciation -5, 523 . 50 -49,711.50 153 A Building 555 0. 00 1, 085, 000. 00 154 A Accumulated Depreciation -2 , 318 . 30 -20,864 .70 157 A Building Improvements-Bldg 444 0. 00 82, 420.02 158 A Accumulated Depreciation -457 . 89 -915. 78 203 L Security Deposit Payable 0. 00 -25, 600. 00 211 L Deferred Revenue 500. 00 -500. 00 280 L Equity 0. 00 -3, 670, 000.00 281 L Retained Earnings 0. 00 -19,968.83 301 R Rent Receipts -63 , 599. 21 -576, 152.46 302 R Other Income 0. 00 -263 .49 303 R Interest Income-Security Dpsts -21. 74 -301.97 304 R Interest Income-General Chckng -254 . 90 -946.77 650 E Depreciation 0. 00 7,841.80 680 E Insurance 0. 00 6, 052 .08 710 E Office Ex�ense 0. 00 354 .38 711 E Office Malntenance 0. 00 1, 099.00 712 E Repairs & Maintenance-Disposal 452 .97 3, 978 .70 713 E Repairs & Maintenance-Building 2, 156. 48 8, 888 . 43 714 E Repairs & Maintenance-Janitor 3 , 446. 25 25,489.55 715 E Landsca�ing 1, 624 .79 7,545.79 723 E Professional Services 10, 000. 00 57,387.22 730 E Repairs and Maintenance 0. 00 1, 351.84 756 E Property Taxes 0. 00 39, 568. 11 760 E Telephone 376. 18 2, 035.53 765 E Security 0. 00 990. 00 775 E Utilities 6, 031.77 31,498.30 812 E Depreciation Expense 8, 299 . 69 55, 808 .38 --------------- --------------- Account Balances 0. 00 0. 00 --------------- --------------- --------------- --------------- Current Profit 31, 487. 72 Y-T-D Profit 327, 775. 58 � � '- � -. �� _� ='J '- N � 2' � _ � �� - L; �/ � U rJ _� LJ �' '� (fJ H � 11J � � � __...-. ___...... . .. ..__. . . .. . ... 9/12/96 Palm Desert Office Complex Company; PD 07: 33 General Ledger - Period Ending 8/31/96 Page: Date Mt Ref � Account Description Current Year-To-Date -------- -- ------ --------- -------------------- ------------- ------------- Beginning Balance 102 Cash in Bank-Reserve Account 27, 941. 39* 8/31/96 S JE2 102 Cash -3 , 154 . 96 Endinq Balances = -3 , 154. 96* 24,786.43* Beginninq Balance 110 Cash in Bank 270,020. 36* 8/31/96 8 JE2 110 Rent Reserves 3, 154 .96 8/31/96 8 JE3 110 Cash in Bank 63 , 099.21 8/31/96 8 JE4 110 Cash-General 254 .90 8/31/96 8 CD8 110 Cash Disbursements -24, 088 . 44 Ending Balances = 42 , 420. 63* 312 ,440.99* Beginning Balance 112 Cash in Bank -Security Deposit 25, 667.21* 8/31/96 8 JE4 112 Cash-Security 21.74 Deposit Ending Balances = 21. 74* 25, 688.95* Beginning Balance 151 Building 444 2,585, 000.00* Ending Balances = 0. 00* 2,585, 000. 00* Beginning Balance 152 Accumulated Depreciation -44, 188. 00* 8/31/96 8 JE1 152 Accumulated -5, 523 .50 Depreciation Ending Balances = -5, 523 . 50* -49,711.50* Beginning Balance 153 Building 555 1, 085,000. 00* Ending Balances = 0. 00* 1, 085, 000.00* Beginning Balance 154 Accumulated Depreciation -18, 546. 40* 8/31/96 8 JE1 154 Accumulated -2, 318 .30 Depreciation Ending Balances = -2 , 318 . 30* -20,864.70* Beginning Balance 157 Building Improvements-Bldg 444 s2, 420.02* Ending Balances = 0. 00* 82, 420. 02* Beginning Balance 158 Accumulated Depreciation -457.89* 8/31/96 8 JE1 158 Accumulated -457 . 89 Depreciation Ending Balances = -457. 89* -915.78* Beginning Balance 203 Security Deposit Payable -25, 600. 00* Ending Balances = 0. 00* -25, 600. 00* Beginning Balance 211 Deferred Revenue -1, 000. 00* 8/31/96 8 JE3 211 Deferred Rent 500. 00 Ending Balances = 500. 00* -500. 00* Beginning Balance 280 Equit� -3 , 670, 000. 00* Ending Balances = 0. 00* -3 , 670, 000. 00* 9/12/96 Palm Desert Office Complex Company: PD 07:33 General Ledger - Period Ending 8/31/96 Page: Date Mt Ref # Account Description Current Year-To-Date -------- -- ------ --------- -------------------- ------------- ------------- Beginning Balance 281 Retained Earnings -19, 968.83* Ending Balances = 0. 00* -19, 968.83* Beginning Balance 301 Rent Receipts -512 ,553 .25* 8/31/96 8 JE3 301 Rent Revenue -63 , 599 . 21 Ending Balances = -63 , 599 . 21* -576, 152 .46* Beginning Balance 302 Other Income -263 . 49* Ending Balances = 0. 00* -263 . 49* Beginning Balance 303 Interest Income-Security Dpsts -280.23* 8/31/96 8 JE4 303 Interest Security -21.74 Deposit Ending Balances = -21. 74* -301.97* Beginning Balance 304 Interest Income-General Chckng -691.87* 8/31/96 8 JE4 304 Interest General -254 . 90 Ending Balances = -254 .90* -946.77* Beginning Balance 650 Depreciation 7,841.80* Ending Balances = 0. 00* 7,841.80* Beginning Balance 680 Insurance 6, 052. 08* Ending Balances = 0. 00* 6,052. 08* Beginning Balance 710 Office Expense 354.38* Ending Balances = 0. 00* 354.38* Beginning Balance 711 Office Maintenance 1, 099.00* Ending Balances = 0. 00* 1, 099.00* Beginning Balance 712 Repairs & Maintenance-Disposal 3,525.73* 8/21/96 8 1128 712 Waste Management of 452 . 97 the Desert Ending Balances = 452 .97* 3,978 .70* Beginning Balance 713 Repairs & Maintenance-Building 6,731. 95* 8/1/96 8 1112 713 AZ-Tech Electric 312.78 8/1/96 8 1113 713 AZ-Tech Electric 487.24 8/1/96 8 1116 713 Otis Elevator Co. 1, 216. 84 8/1/96 8 1118 713 The Lock Shop 8. 62 8/21/96 8 1127 713 Dewey Pest Control 76. 00 8/21/96 8 1130 713 Hugh Hoard, Inc. 55. 00 Ending Balances = 2 , 156. 48* 8, 888 .43* Beginning Balance 714 Repairs & Maintenance-Janitor 22, 043 . 30* 8/21/96 8 1124 714 Desert Building 3 , 4A6. 25 Services Ending Balances = 3 , 446. 25* 25,489.55* 9/12/96 Palm Desert Office Complex Company: PD 07:33 General Ledger - Period Ending 8/31/96 Page: Date Mt Ref � Account Description Current Year-To-pate -------- -- ------ --------- -------------------- ------------- ------------- Beginning Balance 715 Landscaping 5, 921. 00* 8/1/96 8 1115 715 Ca Desert Nursery 787.29 Inc. 8/1/96 8 1119 715 Sir Michael's 837 . 50 Enter�rises Ending Balances = 1, 624. 79* 7,545.79* Beginning Salance 723 Professional Services 47,387.22* 8/1/96 8 1117 723 Mason & Mason 6, 000. 00 8/21/96 8 1122 723 Oscar G. Armijo, CPA 4, 000. 00 Ending Balances = 10, 000. 00* 57, 387.22* Beginning Balance 730 Repairs and Maintenance 1,351.84* Ending Balances = 0. 00* 1, 351.84* Beginninq Balance 756 Property Taxes 39,568. 11* Ending Balances = 0. 00* 39,568. 11* Beginning Balance 760 Telephone 1, 659. 35* 8/1/96 8 1120 760 AT&T 24 .79 8/1/96 8 1121 760 GTE CA 176.59 8/21/96 8 1126 760 GTE CA 174 .80 Ending Balances = 376. 18* 2 , 035.53* Beginning Balance 765 Security 990. 00* Ending Balances = 0. 00* 990. 00*- Beqinninq Balance 775 Utilities 25,466.53* 8/1/96 8 1114 775 Southern Ca Edison 58 . 18 8/21/96 8 1123 775 Southern CA Edison 5, 638 . 07 8/21/96 8 1125 775 Aztech Electrical 238 .44 8/21/96 8 1129 775 CV Water District 97 . 08 Ending Balances = 6, 031. 77* 31,498. 30* Beginning Balance 812 Depreciation Expense 47,508. 69* 8/31/96 8 JE1 812 Depreciation 8, 299 . 69 Ending Balances = 8,299 . 69* 55, 808.38* General Ledger is in balance 0. 00*� 33 Transactions Current Profit 31, 487.72 Y-T-D Profit 327, 775.58 9/12/96 Palm Desert Office Complex Company: PD 07: 33 Transaction Listing Page: Period Ending: 8/31/96 Date Mt Ref � Account Description Item Amt Ref Amt -------- -- ------- ---------- -------------------- ---------��-- ------------ 8/31/96 8 JE1 152 Accumulated Depreciation -5, 523 . 50 8/31/96 8 JE1 154 Accumulated Depreciation -2, 318. 30 8/31/96 8 JE1 158 Accwnulated Depreciation -457 . 89 8/31/96 8 JE1 812 Depreciation 8 , 299. 69 8/31/96 8 JE2 102 Cash -3, 154. 96 8/31/96 8 JE2 110 Rent Reserves 3, 154.96 8/31/96 8 JE3 110 Cash in Bank 63 , 099.21 8/31/96 8 JE3 211 Deferred Rent 500. 00 S/31/96 8 JE3 301 Rent Revenue -63 , 599.21 8/31/96 8 JE4 110 Cash-General 254 . 90 8/31/96 8 JE4 112 Cash-Security Deposit 21.74 8/31/96 8 JE4 303 Interest Security Depos it -2 L.7 4 8/31/96 S JE4 304 Interest General -254 .90 8/1/96 8 1112 713 AZ-Tech Electric 312 .78 312 .7; 8/1/96 8 1113 713 AZ-Tech Electric 487. 24 487.2� 8/1/96 8 1114 775 Southern Ca Edison 58. 18 58. 1. 8/1/96 8 1115 715 Ca Desert Nursery Inc. 787.29 787.2� 8/1/96 8 1116 713 Otis Elevator Co. 1, 216. 84 1,216.8 8/1/96 8 1117 723 Mason & Mason 6, 000. 00 6,0OO. Oi 8/1/96 8 1118 713 The Lock Shop 8. 62 8.6: 8/1/96 8 1119 715 Sir Michael's Enterprises 837.50 837.5� 8/1/96 8 1120 760 AT&T 24 .79 24.7� 8/1/96 8 1121 760 GTE CA 176. 59 176.5� 8/21/96 8 1122 723 Oscar G. Armijo, CPA 4, 000. 00 4, 0OO. Ot 8/21/96 8 1123 775 Southern CA Edison 5, 638. 07 5, 638.0" 8/21/96 8 1124 714 Desert Building Services 3,446.25 3, 446.2' 8/21/96 8 1125 775 Aztech Electrical 238.44 238 .4� 8/21/96 S 1126 760 GTE CA 174.80 174 .8( 8/21/96 8 1127 713 Dewey Pest Control 76. 00 76. 0( 8/21/96 8 1128 712 Waste Management of the Desert 452 .97 452 . 9'. 8/21/96 8 1129 775 CV Water District 97. 08 97.0£ 8/21/96 8 1130 713 Hugh Hoard, Inc. 55. 00 55. 0� 8/31/96 8 CD8 110 Cash Disbursements -24 , 088.44 -24, 088. 4� 33 Transactions For The Period Journal Balance 0 Oc Account Number Control Total: 1'7009 _ _ __ ._ . . � Palm Desed Office Complex Bank Reconcillation for Account 1496-1-01948 For Month Ending July 19% Beginning Balance 297,%1.75 Add: Cash lleceipts 63,099.21 Inteieet 25¢,9p Lese: Cash Diebu:aementa 24,088.44 Service Chazge _ Ending Balance 337,227.42 Balance Per Bank 340,967.11 Depoeike in T:ansit _ Lees: Outatanding Checke 3,739.69 Ending Balance 337,227.42 Outstanding Check List Check Number Payee Amount 1099 Get Alarmed Security 55.00 1124 Desert Building Services 3,446.25 1125 Aztech IIectric 235.44 TotalOutstanding 3,739.69 Prepared by Oscar G. Armijo, CPA 9/11/96 Page 1 ____. _ l Palm Deeert Office Complex Bank Reconciliation for Account 1496-3-01947 For Month Ending Auguet 1996 Beginning Balance 25,667.21 Add: Cash Receipte - Intemst 21.74 Lese: Cash Diabuxaemente - Service Chazge - Ending Balance 25,688.95 BalancePerBank 25,688.95 Depoeita in Tranait - Lese: Outetanding Checks - Ending Balance 25,688.95 Prepared by Oscar G. Armijo, CPA 9/11/96 Page 1 � � c�rY cF �;,�� oESEnr F ';:.�;�E DEPART�dE�7T 0 M��. .n�FA 2�.5, ��N '96 SEP 30 Pf� 2 19 PressRelease uN � reosrAles & caNnoa September, 1996 MTA USBcC CertiSes the Wdtten Investment Policy of Palm Desert, Cal}'fornia On June 4, the written investment policy of Palm Desert, California was certified by the Municipa177easurers' Association of the United States and Canada (MTA US&C). The City was formally recognized for this achievement on August 7 during the AssociaUon's 31st Annual Conrerence in P.?obile, Alaba.�a. Approximately 150 entilles have had their policies certlfied by the Association since the Program was developed in the spring of 1990. Palm Desert is one of 38 Jurisdictions in the State of Callfornia to be awarded MTA US&C's certiHcation for written investment policies. The Association's Investment Policy Certification Program was instituted in an effort to assist state and local governments Interested in drafting or improvin� upon an existing investment policy. As part of the Program, the Association has created a "Model" investment policy. The Model includes sample language and rationale for those 16 sections the Association deems as critical elements to be addressed in a written policy. The following are some of the elements included in the Model: liquidity; selection and review of suitable investment instruments; intemal controls; reporUng; portfolio diverslAcatlon; custody and safekeeping; selection of investment instituUon criteria; ethics; and conflicts of interest. Those entiUes who have had their wrItten investment policies certified in 1995-96 include: Cottonwood, Arizona; Peoria, Arizona; Yuma, Arizona; Anaheim, Cahfornia; Barstow, California;Chino, Califomia;ElDoraciolrrigationDisirict, California;Healdsburg, Caltfornia; Inglewood, Califomia; Lodi, Califomia; Los Angeles County Meiropolitan 1Yansportation Authority, Califomia; Mission Viejo, Califomia; Ornnge Count�, California; Yalm Desert, CaliJbmia; Palos Verdes Estates, Cah;jbmia; Redondo Beach, California; Riuerside, Cal�;fomia; Vista, Califomia; Douer, Delaware; Orlando, F7Drida; SL Petersburg, F7orida; Boise, Idaiw; Carol Stream, Illirwis; Peoria, Illinois; Mount Vemon, Iowa; Orleans Parish School Board Louisiana; Brandon Township, Michigan; Otsego, Michigan; Salem Township,MicFugan;Minneapolis-SaintPcwlMetropoli2anAirporLs Commission,Minnesota; Van Wert. Ohio; Norman, Oklalwmn; Philadelphia, Pennsylvania; Greer, South Carolina; Chnttar�a, Tennessee;Beaumont, Texas;Denton, Texas;Euless, Teuas;Houston, Texas; Huntsuille, Texas; La Marque, Texas; Tarrant Count�, Texas; Texas Water Deuelopment Board: Ciark Coi.int�, Washington; Kent, Washington; and Tacoma, Washington. For informatlon on the Investrnent Policy Certification Program, or to obtatn a copy of the appllcation and Model Investrnent Policy, call or write Deborah Reuter at the Municipal 'I7easurers' Association of the United States and Canada. � 7229 Nineteenth Street, N. W. Washington, DC 20036 PHONE 202-833-1017 FAX 202-833-0375 `!� cc: Jean Ruth .__. __. . . . . . . . . . . . ._ .. _._. .. .. . .