Loading...
HomeMy WebLinkAboutInvestment Reports May - June 2012TO: FROM: DATE: CITY OF PALM DESERT FINANCE DEPARTMENT INTEROFFICE MEMORANDUM RACHELLE KLASSEN, CITY CLERK NIAMH ORTEGA, RECORDING SECRETARY`���' JULY 27, 2012 SUBJECT: COMPLIANCE ANALYSIS AND INVESTMENT REPORTS Please find attached the Compliance Analysis and Investment Reports which were presented and approved at the recent meeting of the Audit, Investment and Finance Committee for the months of May and June 2012. Please include the reports on the upcoming agenda for review and acceptance by City Council. Also included are the Minutes of the May and June 2012 meetings for acceptance by the City Council. Please feel free to contact me at Ext. 382 if you have any questions. Thank you. nmo Attachment (as noted) d BY SA -RDA ON 8 a3.aoi2` VERIFIED BY C !Jo) Original on file with City Clerk's Office CITY COUNCIL ACTION APPROVED DENTED RECEIVED 4' '--eQ, OTHER MEETING DATE 58' a 3'a01Q AY ES: Be i5on, trie(l-y l 1-1acru kl Kreriew er t'L NOES• krne ABSENT: ,I.k1n'e ABSTAIN: tine. VERIFIED BY. eDk Original on File with City Jerk's Office G:\FINANCE\NIAMH ORTEGA\INVESTMENT COMMITTEE\MEMOS\RKLASSENINVREPORT.WPD CITY PORTFOLIO CONCENTRATION LIMITS May 2012 % of Investments Book Value Portfolio CALIFORNIA ASSET MANAGEMENT PROGRAM $ 2,401,437.33 1.10% CITY LOAN TO RDA 13,554,999.95 6.22% WF/L.A.I.F. BOND PROCEEDS 25,365,368.23 11.63% FEDERAL AGENCY -- COUPON 2,999,928.58 1.38% LOCAL AGENCY INVESTMENT FUND 48,860,375.57 22.40% WELLS FARGO CORPORATE TRUST 4,164,012.45 1.91% CORPORATE MEDIUM -TERM NOTES 8,737,571.82 4.01 % RIVERSIDE COUNTY TREASURER 104,955,573.66 48.13% TOTAL BEFORE CASH $ 211,039,267.59 96.77% PLUS: CASH $ 7,046,917.56 3.23% GRAND TOTAL $ 218,086,185.15 (1) 100.00% FOOTNOTE: (1) In the Citv of Palm Desert Comprehensive Annual Financial Report ("CAFR"), both the City of Palm Desert ("City") and the City's external auditor define total investments as demand deposits, investments in various instruments, and investments held in local government investment pools. The concentration percentages shown above were calculated based on that definition. • T ~� ��� 2012 b ^gall h1 Z� e City of Palm Desert . it Pe- t•y..1'[9 3y,jam. Xra4ttiric J i'ee tme>zt xt ECONOMIC COMMENTARY The world is not in recession, but global growth is slowing. The U.S. economy Capital Markets Team has been hurt by continued cutbacks in federal, state, and local government spending, and by sluggish export markets. The Chinese economy is decelerating City Treasurer due to slowing exports,and to prior policy tightening. Europe has declining Paul S. Gibson, C.C.M.T. economic growth,with several countries in recession. The global slowdown has lessened inflationary pressure, however,with commodity prices falling over the Deputy City Treasurer last few months. Thomas W.Jeffrey,J.D., M.B.A. The U.S. economy has been on a downward trajectory for the past two quarters, with second-quarter growth estimated at 1.5%. U.S. manufacturing shrank in June for the first time in three years as orders plummeted. The 10-year U.S. Investment Objectives Treasury Note fell to an all-time low of 1.44%due to buying by"safe haven" investors. Vice President Biden characterized the current U.S. economic The treasurer shall invest all environment as a"depression." Separately,the U.S. Supreme Court upheld public monies in a manner the 2010 Affordable Care Act("Obamacare")as a tax. The Act contains at that ensures safety of least 20 new or higher taxes that may generate close to$1.7 trillion of tax principal; sufficient liquidity revenue over the next 10 years,with the burden falling largely on the middle class. to finance the City's expenditures; and the The Canadian economy has slowed from a quarterly growth rate of near 3%to highest yield possible after 1.9%over the last two quarters. Consumer spending is being constrained by a the previous two objectives historically high debt load. The Canadian job market and banking system have been met. remain strong, however, at this point in time. .%aul i gikatz, ee..hl.f. - 14 City Treasurer Certified California Municipal Treasurer PORTFOLIO STATISTICS STATISTICS JUN-12 MAY-12 APR-12 MAR-12 FEB-12 JAN-12 Thousands of Dollars Month-End Book Value $ 216,803 $ 218,086 $ 210,198 $ 210,603 $ 212,467 $ 230,400 Month-End Market Value $ 216,813 $ 218,101 $ 210,229 $ 210,643 $ 212,494 $ 230,415 Paper Gain(Loss) $ 10 $ 15 $ 31 $ 40 $ 27 $ 15 Prior Year Book Variance $ (6,478) $ (1,596) $ 3,543 $ 3,948 $ 17,031 $ 38,780 Interest Earnings $ 75 $ 76 $ 72 $ 74 $ 68 $ 68 Yield-To-Maturity 0.43% 0.43% 0.42% 0.45% 0.41% 0.40% Weighted Maturity(Days) 40 38 39 39 39 39 Effective Duration 0.05 0.05 0.06 0.06 0.07 0.07 All data as of June 30, 2012 PORTFOLIO CHARACTERISTICS June 2012 Dollars in Thousands Maturities Market Value (- 1 < 1 M $ 176,950 Maturities Distribution I < 2M 3,004 94 <3M - 100 <6M - e 80 - < 1Y o 60 - < 2Y 8,739 0 < 3Y - 0 40 - <4Y - a. 20 2 0 0 0 5 < 5Y 0 0 0 _ r-� Total: $ 188,693 0 <1M <2M <3M <6M <1Y <2Y <3Y <4Y <5Y l Credit Quality 1 Ratings Market Value AAA or Aaa AAA or Aaa S 114,482 57% AA or Aa 4,702 A 4,042 Unrated Unrated 79,012 39% ` AA or Aa Total: $ 202,238 A 2% 2% Assets Market Value Asset Allocation 1 County Pool 104,945 County Pool 52% LAIF LAIF 40,091 20% WF/LAIF Bond Proceeds 25,365 City Loan to RDA 13,555 MTN 8,739 CAMP 2,402 WF/LAIF Bond WF/Bond Proceeds 4,136 Agencies ' , ;' Pr13%ds 47 Agencies 3,004 1/WF/Bond CAMP MTN City Loan to Total: $ 202,238 Pr 2 eeds 10 RDA '� Month City Yield LAIF Yield Variance Performance I Jul11 0.67 0.38 0.29 Aug 0.49 0.41 0.08 0.8 Sep 0.49 0.41 0.08 Oct 0.43 0.39 0.05 Nov 0.44 0.40 0.04 Dec 0.37 0.38 -0.01 0.4 !, Jan12 0.40 0.39 0.01 > Feb 0.41 0.39 0.02 Mar 0.45 0.38 0.07 Apr 0.42 0.37 0.05 0.0 Jul11 Aug Sep Oct Nov Dec Jan12 Feb Mar Apr May May 0.43 0.36 0.07 Jun 0.43 0.36 0.08 OLAIF Yield OCity Yield CITY OF PALM DESERT TREASURER'S OFFICE PAGE 2 OF 3 STATEMENT OF COMPLIANCE June 2012 The investment of the City of Palm Desert securities portfolio is governed by California Government Code Section 53601 and by the Palm Desert Statement of Investment Policy. The City investment policy is more conservative than State law. The Palm Desert Audit, Finance, and Investment Committee, and the Palm Desert City Council review the City investment policy annually. For the month ended June 30, 2012,the City investment portfolio was in compliance with all applicable state and local laws and regulations. The City Treasurer's Office continued to pursue conservative and prudent investment strategies, based upon the stated objectives of safety, liquidity, and yield. Barring unforeseen events,the City Treasury should have sufficient cash to finance City expenditures for the next six months. In addition, portions of the City investment portfolio could be liquidated in order to meet any significant, unexpected cash requirements. Interactive Data Services provided the market value prices for securities in the City investment portfolio. All balances are bank balances. Respectfully submitted, Yes c.4cw, e.e.tic5. City Treasurer SUMMARY OF AUTHORIZED INVESTMENTS California Government Code City Investment Policy CA Govt Maximum Maximum Minimum Maximum Maximum Minimum %of City Code Investment Category Maturity Limit Quality Maturity Limit Quality Portfolio 53601(a) Palm Desert Bonds 5 Years No Limit - 53633 Demand Deposits No Limit No Limit No Limit No Limit - 53601(b) U.S.Treasuries 5 Years No Limit 5 Years No Limit . - _ 53601(c) CA State Debt 5 Years No Limit Not Authorized 53601(d) CA Local Agency Debt 5 Years No Limit Not Authorized 53601(e) Federal Agencies 5 Years No Limit 5 Years No Limit 1.5% 53601(f) Bankers's Acceptances 180 Days 40% 180 Days 40% A-1 or P-1 - 53601(g) Commercial Paper 270 Days 25% A-1/P-1 270 Days 25% A-1 or P-1 - 53601(h) Negotiable CDs 5 Years 30% 5 Years 30% AA-or Aa3 - 53601(i) Repos 1 Year No Limit 30 Days 20% - 53601(I) Reverse Repos 92 Days 20% Not Authorized 53601(j) Medium-Term Notes 5 Years 30% A 5 Years 30% A 1.4% 53601(k) Money Market Funds 90 Days 20% AAA&Aaa 90 Days 20% AAA&Aaa 1.9% 53601(1) Trust Indenture Debt Not Authorized 53601(m) Secured Bank Deposits 5 Years No Limit Not Authorized 53601(k) Local Government AAA&Aaa AAA&Aaa Investment Pools 90 Days No Limit or Advisor 90 Days 50% (1) or Advisor 49.5% 53601(n) Mortgage-Backed 5 Years 20% A(Issuer)& Not Authorized Securities AA(Security) 16429.1(b) L.A.l.F. No Limit $50MM/Acct No Limit $50MM/Acct _ 30.2% (2) 84.5% Footnotes: (1) Maximum concentration limit for local agency investment pools, excluding bond proceeds. (2) Total does not include the City Loan to RDA. CITY OF PALM DESERT TREASURER'S OFFICE PAGE 3 OF 3 CITY PORTFOLIO CONCENTRATION LIMITS June 2012 % of Investments Book Value Portfolio CALIFORNIA ASSET MANAGEMENT PROGRAM $ 2,401,906.76 1.11% CITY LOAN TO RDA 13,554,999.95 6.25% WF/L.A.I.F. BOND PROCEEDS 25,365,368.23 11.70% FEDERAL AGENCY-- COUPON 2,999,953.21 1.38% LOCAL AGENCY INVESTMENT FUND 40,091,375.57 18.49% WELLS FARGO CORPORATE TRUST 4,136,262.42 1.91% CORPORATE MEDIUM-TERM NOTES 8,732,239.69 4.03% RIVERSIDE COUNTY TREASURER 104,955,573.66 48.41 TOTAL BEFORE CASH $ 202,237,679.49 93.28% PLUS: CASH $ 14,564,915.85 6.72% GRAND TOTAL $ 216,802,595.34 (1) 100.00% FOOTNOTE: (1) In the City of Palm Desert Comprehensive Annual Financial Report ("CAFR"), both the City of Palm Desert ("City") and the City's external auditor define total investments as demand deposits, investments in various instruments, and investments held in local government investment pools. The concentration percentages shown above were calculated based on that definition. >. F- Q o m U U _ O Y O .i O w coc - a > O I C Y 8 C 2 0 a mna a 2's N th t•) 7 co O c0 Cr NI. O Vl O O F W O O O .- O O O O O p O a) C Y N_ N N c0 to m .o O C Q 7 0)N E N a pv • C.ui y co to C .= 1" Ca D ooawi to U.0 _ O a. .- N N N C 0_ A E c Q to N Co O) > O C N a C n v U CI--..--' W CO O. O O) O CO N N O 0 O.- P. 3w O M O) a co C 0- O a >- N Ca a is co > C) N Y it -c O 7 O N N l( C CO 000 LL a) N 0 A O of co 6 u) N CA c+) T 6aci a m OOi m C') CD M N N 0 n 0 Cn l0 L O N (0 W O C') t� to V r V tD elCn O 1- Ca CC') ID 0 (13 O N c5 N N O V [O C N V co a St O '- O.W G) a `O a) C (� co N N t O W d E N T. as ccat . a C N 0 rn MU J cC fn O 0 N CO CO Q E o ) I.. n C�co 00 _ CD tD C) O 1� N CO CO to ,- N 0 Q = ` a) N rn N c7 tD v tD r m CD } a > 6 tp CA CO tD N n t') t(j a) O ° rn rn OV N ID i N p a V N N O V ui V c0 m ID V M N U N 0 v IND o°') 0 0 ..- n 0)) .. 0 IL 0 N O N l to co- CJ V Co O N pp 'O .--1 U A N V a CO- 'C' N 2 NO 1i N N , a) C OC t_ O x CO O VI m m Eyrn ca C7 oC o> y CO tD 0) O N- N O c0 O) CO oa0 .� y L" t0 > 1, 0) N O tD V O CO {p CO 4 O) n M a c, 0 A CO @ CO O tD N O C7 CO ID N C_ CO co 7 U O 7 CA Cn c..) O In N O tD co C, O • U O 0 co E O t0D 00 O rn M t2D IDD M o co' W C v 0 C') O 0 .- CD 0) c0 in N V N 0 7 N r) ov v ro o n y n T ' 70 Np c0 0 > , O N CV 2 N O a 0 0 CD CD M LJ 0 a) C L 3 C o N U co,0 0 C - N Ca t) 3 p 1... 0-L o co M j D F- Cr 0 - 0 o I— 9 0 w Ce O w C o Y N a. co O w F 2 N o aa) .�° U N F w QQ w w W a y O• O. •F- c w O O j 0 ) C) i .0 CI. .2 v w U > y~ c� > MI W 0 (.11 o ` 0 to (.7 o a r z O o F m� co w oa o o v < x O U U W Z C 0 CO O L _ 0 N C Z o O to W Q_ F- O C L L C 04 CO E a) N N 0 ' W Q LL -J Q < 0 a) a A to } a) U - N _ C 0 _7 0 Ni JO QLi, a w o u U W e ' � m > Q H iL G U W Z > a) N N•C . SQ N a) 0 ,Ina cJ 7 4 0 c O O LL OO E U a� FO- F-I U Q W F- o _0 a. cc ¢ r .W.. N a co N o '0 CO a 07 Q) 7 0 N F_ Q r n a aO U N p m CO - 0_ > y"AO O a LL re cc o� a 2 g a 0'n CO CO CO CO CO ao pppp CO CO ao CO 00000000000000 COCO M PI01 N N N 0 0 U) III 00000000000000 N N I N 01 01 CO F) --• O) 000000000000000 0 0 O O O O O O 0 • .- .•' O O O O O O O O O 0 0 0 O O O O CO_to co ca ca ca CO CO CO CO CO co CO CO CO CO ✓ I .7 Q Q .7 Q Q Q .7 Q Q .7 .7 Q °o 2 V W r0) 03 0) 0 0 /0) W ja N N CO CO 7 F) B re O O O O O a) CD 0 CD O h F) aM I- A 0 0 (0 0 0 0 0 0 0D 0 0 O) 0 0 7 1- 0 0, O) 0! N N N N 10 10 0 O .- 0 0 O 0 0 0 0 0 0 0 0 TO O a7 a O) o) a0 co cO en 10 10 N O O O O O O O M O O M O O CD 0 W 0) CO CD 10 h n n V 0 Y h. 0 O 007 0 O) of M a7 co 10 CD Of )0 p n N aa u1 N CT; W 1n 0 a) co 10 p pp N CO CO 0 o) O1 T V. 0 0 a0 m COV 0 0c 0 O 0) 0 O N N c+1 a9 N N N N O O 4- N N <J V a) CD O CD 0 N CO 01 0 0 h Is. 0 O aD O 0 0 0 O a0 O 0 O 0 0 7 I- O A O 0) N N O O 1!) N O O v- O O O O O O O O O O o a) O a7 c0 a co a0 a0 a� N Yf N O O O 0 0 0 O M O O c7 O O - CD 00) W a; CO 01 am CD V V On7 N. TO- 3 c0 OO) 1A W V f, 1n h V • c0 a7 cc co 10pp 0OOV' O) CO COL. a7 07 0 O CO N C. N N c•) Pi O N N 7 V c" W d I. W G1Csi W CD 0 c0 a co c"1 O O 1� n 0 O (0 0 0000000030 O ; 7 I� O us: CDW N N .00 010 0 0 .- O O O O O O O O O O O N O a7 c0 O co aD a0 O O N N N_ O O_ 0 O 0 0 0 O M O O co O O a O O) CO CD CO 0 0 0- N. V 0 F 01 O) 01 co c9 O O co 1'1 O 0 0 0 10 1 Ca n V Co N O O N 000 M N J W O a. sr" n 30 CD 0 0 O rn 1 v 0cD o M 10 N VI1') 0 0 0 O Q M N N N N c7 M O O N N V" V CI- cc O ° W W o I- ^0 0 ea as 0 0 0 0 0 O o 0 0 0 0 0 0 0 O EL U L 0 N NNNNNNNNNNNNN ° , o o O o 0 0 0 o O O o 0 0 0 0 CI- a. o 00000000000000 W W a7 H M O 0 0 cc! 01 N c71 co W �p� O) 0 O O LL LL LL LL LL LL LL LL LL LL LL LL U. LL > m O rn Z A w 2 2 2 2 2 2 2 2 2 2 2 2 2 2 Q.m LL N of of 2 2 n 2 2 2 22 2 2 2 2 2 2 o N F) Z � N > > » > » » > > » CO J N co Z w Y N co J J J J J J J J J J J J J J N Z v a d LL LL LL n. d LL O. Q. a LL d d F- F- 00 Y r Y >- Y >- >- >- } >• >- >- >- Y CC F" CO X X CCIY CC CCCC CC CCCC CC CeCC CC � W W W (� � � � y y y N N � � y -J v o a y w ce re x x x ce re ce x z ce ce ce ` J J W 2 W 0 W 2 W W F- F- H F- F- F- F- F- F- F- I F- I- F W O O Of J Z 0) 0 O) W W WWLUWWW WWW WWW W -J Q Q Q Q Q Q Q Q Q Q Q Q Q Q W a, o. Q LL Q Q Q Q U Q F- F- I- I- F- F- F- F- F- I- F- F- F- F- v O Q v ai 9 ZZZZZZZZZZZZZZ Q Q Q Q Q Q a Q Q Q a Q a Q Q Q nl _ n) U C A O - C > > > > > > > > > > > > > > O W Q _ 0 0 0 0 O O O 0 0 0 0 0 0 0 U U j� U T. J 4 LL .. 0 J . F- Q Q Q Q Q Q Q Q Q Q Q Q Q Q 2 2 O O Z p (n c a a a 0 * 00 in u) in cnn �- co 1- c Cl) Z Z W F- IT F- IT F- F- F- F F- 1- F F F- F- W a 0 0 W F O O N c7 O N 0 N O 6 0 000 0 0 0 0. 00 0 0 0 0 W 0 = rn 0 a7 CO n L- n n CO CO 03 CO O) O) 0 0 )� Z V' r) rn F- o v V' V' v v V' v V' v V' n v U L., O o o 0) co o) o) o) a) o) 0) o) C — 0 N U 'Q co N a 0) rn 0) 0) w co co co a0 co a0 co co co o a0 coco w ¢ a j. > �O 00 0 0 Z Z WQ 0 U O N g F- (Q ZW I- F- F- F F- F F F- F L- F F F- I- X O O N A O N O N O o Z LLoo ^ nncorornrnMoQ J CO F) ^ a0 0 0W v LL o 0 < o o v v v c v c v v v 0 Co O. "J Q vi >- --I o O O 0 0) 01 0 CO O) O) D) O) O CO 01a. CO N .�j NWXQ N WODa0aDOa0OaDODa0a0a0aDa0 4Q � } W � W _) JW o U) o 0 o o 0 to rn 0 n CO 0 In oQ > } > '' p cn 3 cn C.) C) a) v) C.) U. o1 —I co .. CO GO co CO cO V) CO cO COU CO U)i co U) N o Q) 7 0 �- Q a f U o a O- O I 0 r Q- w V 0 a r� g a 0 U., o 0 0 0 0 0 000 000 0 0 0 000 0 0 0 000 0 0 0 000 0 0 0 000 S`�CO o 0 0 0 0 0 coo 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 000 000 000 000 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 to CO (O CO CO CO (O CO CO CO CO fa CO N CO (O CO CO 03 CO CO CO CO (v CO N CO N CO CO (9 @ N CO CO CO CO O 0 E N N S4 C2 co d N O 0 4- O N 0 0 O) 0 0 0 U V. 0) 0 0 o M 0 0 0 0 .- O h (O O O 0 0 0 0 4- o 7 (0 (I) O 0 0 V O 0 0 0 0 0 0) 0 0) 0 0 O CO 0 O 0 O CO N O O h V O 0 O 0 0 O O 0 (D O O O N 0 0 O O O 0 0 O O O O O 0 0 O U) O 0) O O O O O coOj 0 00 O Y - co co M CO V ,- (O 0) (O co co O O CO V U) N V O N M O co sr co CD c`)) srO O m 43 7 N 0) 0 O N 0 0 0) 0 0 0 CC) TV 0) 0 0 0 CO 0 0 O 4- 0 h• 10 O 0 0 0 0 O O (D u) 0 0 0 V O 0 0 0 0 0 0) 0 0) 0 0 0 CO 0 0 0 0 CO n o 0 N- V O 0 0 0 0 0 O jO O (O O o 0 N o 0 6 0 0 o M 0) (0 0 0 0 M O O O O O (O O 0) O O O O O CO O co M (O CO (0 0 O' COO N O CO CO CO NV CD O (O co (O G) 0) co- V (n V7 V O N (') (O 0)) M V 0 (O o V) f a-. W a) 10 0 0 0 W ^�, N C) N CO C) O N 0 O O 0 0 O (0 V 0) CO O O O .-- .- O N. U) co 0 0 0 0 O O W ; t 7 CO (D 0 0 0 V O 0 O 0 0 0 O 0 O 0 0 0 CO o 0 0 0 CD N 0 O N- V 0 0 0 0 0 O 0 Q C) C Q A6 (o o 0 o N O O cN, 0 0 0 0 CO D 0 0 0 O 0 0 0 0 o vi 0 0 0 0 0 0 0 co 0 C N 4- CO CO M co V U)) rn LO ( (ND E _ ) 2 m 05 v (n (r) o �i v) J c4 co O — rn ((00' v o 0 Q * - M aL cc a,=U- ° o o � � � o N CD r 0 ,o (p (O 000 000 000 0 0 0 000 000 00 0 O 00 000 000 000 000 L 0 NNN NNN NNN NNN N N N N N N N N N N N N N N N N N N N N N NNN a_U ` O , 000 0 0 0 0 0 0 000 000 0 0 0 0 0 0 0 0 0 0 0 0 000 000 000 d Cl. 00000000000000000000000000. 00 0 0 0 0 0 co 0 CD d m U (O C (O LL LL LL LL LL LL LL L.L. LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL V) V) U) CO U) CO V) (1) N V) CO CO V) CO U) (1) CO CO CO CO V) CO CO CO V) CO U) CO V) (.0 CO CO V) CO CO CO DDD DDD DMD DDD DDD DDD DDD DDD DDD DDD DDD DDD J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a a >- > r >- > >- r > > >r >- >- > r r >- > r >- r } >- r r >r >- > >- >- > >- >- >- >- r r CCCLCC CC CLCC CCDD CYDD DCCD DDCC cc cecc cecccc cr wct o- Dcc D Dcc D DCC 0 0 0 0 0 0 DDD DDD DDD DDD DDD DDD DDD DDD 0 DO DDD U) IQn CO CO U) VV)) CO CO CO V) CO CO CO CO CO U) CO CO CO CO CO CO VV)) VV)) (1) VV)) VV)) CO VV)) CO (l) CO VV)) VV)) CO CO CY CY CY Cr CY Cr H H CY CY CY H H H CY CY CY CY CY CC CY H CY CY H CY CY D_ CY CY H H H r- H H H H F- H H H H r- r- F- H H H F- H H H H F- F- H H H H H H H F- H H H F- H H H I- L_ ) w w w w w w w w w w w w w w w w w w w w w w w w w w w w w w w w w w w w Cl) 0 0 0 0 0 0 000 000 000 000 000 0 0 0 0 0 0 0 0 0 0 0 0 000 y ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ H H H H H H H H H H H H H H H H H H H H H HHHHHHHHHHHHHHH z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z z ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > 000 0 00 000 0 00 000 000 0 00 0 00 000 000 0 00 0 0 0 F ¢ ¢ ¢ ¢ ¢ ¢ ¢ a ¢ a ¢ a a ¢ ¢ ¢ ¢ a ¢ ¢ ¢ ¢ a ¢ a ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ ¢ a a D IX It ~ F H H H H H H H H H }TIT H F- F- H F- H H H H H F- H H H F- 1717 H F- F- H H F- H C N H N.- rM- O .O N O O O O O O O O•- •-- M•- •- •- •- O o 0 o V O O N O O O N N O 7 NE O0 N N N N CO CO CO CO CO CO CON 4U) � r N h' 0 0 O O O 0) O O O O O yQ OO V V V V V V V V V V V V V NV V V V V V N N N V _ N rN2 2 O O N 2 CO)C 0 Q) O O O O 0 N 0 O O O N N N O O O N O O NN NN NN N N NN N NN N M NM NM M M M — re st O U ui O 0 H f H H H H F H H H H H H N F H H H H H H H F- F 1- H H F H H F H H H H F- o Q N N M O ,r M A O N- W O V ( O - (NA V v) C D O D O O .-- M O O .- N('') O ,- N CO O N N O O O O 0 0 O O O O O O O O O O O O O O O O O O u- O O N N N N CO CO CO CO CO CO CO O N- r N. N- 0 o CD 0 O CO O O O O 0) 0) WV '0' V 'Cr V V V V 4- V 4- V V V 4- V V V V N N V VN h.-. -h -N .- O u 0 u O O O 0 a. -� U) 0 0 0 0 O O O O O O O O O O O O O O 0 N N N N N N N N CO CO M M M CO M CC - J W (7) v� uN) N N N N N N N to' N N N N N N N N to' N n Nn N N N N N N No N N cN N N N v00 > >. > > > > > >- >- > >- > > >- Y > >- >- > > r > > > > > Y > > Y > >- >- >- >- >- c 0 >, C V) CI) CO V) (n CO CO u) CO CO V) CO CO U) (n CO CO CO V) u) CO CO CO CO CO Q) CO 0) CO CO CO u) 0 cO u) c') Z.N 01 el a. o CO 1- Q m 0) 7 0 N N 0 2 CDN 0 N 0 0 o ai N V r- N n t') ,- N t CC 0 a 0 2 a V L O 0 2 0 O 0) O) v n o 0 (0 w v V a O .- o 0 0 0 o ta (0 (0 CO V Q Q CO 0 0 2 '0 2,., N n v0) )0 0 F) .a.2 a - - o co 7 V. V OI N CD (01 OO (CD V D> YN 0) N N vC) t) (nD O0 PC') COCam) CON 4) N co,c CO 0 (D I- C) CO N v 41 V OD 7 '0 N- O 0 O 4- N 7 v O CO CD 0 (�D ry N 0 N is: CO C') v N I- CO VO) () N v ` v 00) CO) t() 10 CO 0 aI, 0) 0) N 2 V a C tD 'C v N O 0 0 r C N X E LL W d Q ; lN. 7 a O O 0 COO CD (pp tO �() CD C O To c,i N O O O LC) tq V i N R (O O a0 co (() v) (') J (C to 0 n - 0 ccoo_ m rn LC) (O Q — (Y' O V V 00 'R N N 5 O O 0 /� a N L_ = Q O f O N O) N 0 HL Fl N 0 N O ^LLo a � _ � a ° o 0) G) N co CD (') CD C v OD CO 00 N W tD C') 0 N > N N O OD N V Q CO (C') 0 a tom) tLO N J W' h to N v < O co o v to o Z o N W F 7 `- (.4 LL U ° F- U Cr Z a U W F tr 1- U O v) a)1- W C) CO W O A Z m Q > Q LL I- a LU a a V lC Z j- C 0 C C W O m O A A 0 C7 H a. - O N 0 O O a I- d re a ~ • 0 7 w * N Z N a. (/) ) r2 U) aa E W ..:Co co I—c 0 C c N co I-III O .4- 8 z 4, W W 0 N ill CV N g '' )0 O_ 0 CO 0 0 d V CO O a d O a_ W N fY a M W 0 7) v, m U 00 CO CD N O C) Ce c}n oC I re a r d o Q) ~ Q Co U a O 2 a 0 o N UCC ^ N 0 a_ a U_h E `' o 0 o a I- >- 0 0 0 0 N T 'D 0 0 2 a d d A .3 rt co a) ro a 7 1- CO N C) a O I- r` of > Co a m Y N 0 ) N O N N O 0 CO N05 el 0 Ca CD N a) C) (n ti 7 N- CO N (D To N.(n a a > n o n c7 a) E.:, N U) ci m(n N Co LL N 1N W CD U) u,J VN NCN 0 N > r a N CO n v C � a CJ cC +' O 0co Q Q M N (o CL N O O O t a) a) U coo Na. ^L a Nu 0 0 a N N O 0 N N 0CCI c o CO m o vi <m W cc N 0 N Z D U m s N CNI N OW N L- � r J J 0 (n 0a W (+- 0 O a tit J O N y w Iii O W m at O W 2 p) > (n U (o W W y N U 0 1Z > c F, Q m Z = D n ik O U c U 3 a) E Q 0 Htf, 0 (n C) O > Z 0 0 0 C) C) C) 0 o W U) I U N o Z (V m (O co O O Z O O O CO (1. 0 M � C) N N F.) >- (n UJ Li U• M co (0 (}/) 1) ce cna.0� aO Q Q n o a > p a �t a N w o a0 i U i '� 0)Mp vO In M 0 o C? N I?O p00 ty 0 I?CC-0)N CC-0) tp N O c W O o o m o O o C X G w QCO U o ccm c0 p to � to o -- m o d m> Cli 00 m C V O a -E m .O+ q mU — .- .- n N CD� Of p M E E E Nw N Oto N E U 0)N ; O E C � O O c a o Cl) C t0 Wm N �C Of m 03 (N0• r- v v m O O c �, cN a O N C 0)E« f0 CL A, mcE y fn N7 Ad 0 0 7 n t0 t0 O O 0 N N LL' � y 0 O q CO tD tV 1 C to L N y O CS r fV O N CO y 0)y0 V N n N tOnO N E- a Z 4.0 = Obi 0 (D c6 C to N M a O y 1,1 Q% 0 Oaf w C V �- O O Q 0 E N cV o m am N O C N �iN Qom Vi eo Vi p '�'� � : � N O ch f0 (D o c V O O C m 3 M- n t0 t(0 O O t0 N tD 0 N N N - _o N C O y U i I t^tf N ro co" C p r O (V o Ci I � a)d ��1 Oa t0 Nnymcm nV nNLL M OO O y N Za E 2 L ~ E w LL tOA y 1 > ouf�' H (� v c cn l4 y @ a w N C d tp ty0 O O a N N C O N U L q W N V O W N N y O OOi e� N C N t>D n C � C),O m t0 a . rn N n ty0 ONi N w N W N C y to N Of Y 0 y (Ti C e- 00 Of �- 0 O O N f0 cm N CL L M t O Q N C « y L y N 7 N y @0 O N y O O U) E ar p 0 y O M t0 Q� Q C W U 7 O U' F- y :C C 'y-' O C C iy N O y p N Oa. w H O m U Vl - w ug F a g m �E of •° w U 2 Z~ O F. w z O v y m Ci C a0+ d O O 0. o o L Z} w 0 a N m c o L y ay U U O z 0 z 0 z a 0 m� 9 m G `� 6 o_ cv C r �> C >. m N m m w z W �� t y c (D 0 y rn o E Q to N (7 co t $ c3 U W rn :I c .. N fn _C a m > ¢ w y N .r i4 .�. N m d to •T � L.7 a O ti W � EE U w 3 ) U a. F F U Q w IL- m E a m cr gym, a O ❑ N Q Q aCL o V N r M co CO N U.) in u0i 0 U-)i Z co GO h pp Ln h O O O LL d N Lo Zo M M M M M M b V Cl)0 t•0/ O O O c o o 0 0 0 0 0 0 0 0 I 0 I V 0 N 0 I N 0 MR 0 I 0 O Cl) O I ri O 0 0 o 0 o O d a � e- O N N A ❑ I 0 I 10 g m QI m m m Q 8 I I ( w w w w w w w w w w rn w co 0 32 m N i0 0 0 N 0 O h m 0 M M M M M M M M M M h V M N Un M O O t� a' O O O O O O O O O O O O O Cl) y 7 (0 n to (0 w N o V M M O O O n b to q O M n 0? 1. w t0 t0 t0 O O O O O O O > to 0 ao c l00 O i+� A N N a O O OC p0 O O Y ^ < 0 nP,-� V n O t0 N N w Ip O O O co n o � �0{ � N Q N 0) � N Cl)0 N OD M too 01 (0 w M N V O/ N N f0 n co n �00 0 Y0f t0 '0? A V M w to (0 V w Cp N N N V V al V (D n O) to w N O V M M O CD O O O O M n 0 h M r O M n Of n w t0 (0 t0 O O O O O O O O rn n 10 (V 0) OD O W N tV Y V O O O O O 'a � r � O 1[ N N w act O O ED N (0D c aND M 0 T N N n P, 0 10 V N ^ (O c0 O w o0 N N r V V W c Q Gi ; M 00 N W A M m O O O O O O O 7 M n V( tun o M 00 O O O O O O 1.- ((1 N to w 0 t0 N N Q o 0 0 LO o 0 04 V N n n V n O N N N w 0 O O 1 N 01 V n O M M N 0 A M m n ^ O O OI n w �/� V/ vi O a V 0) M ^ N Cl)O/ O w M w W (0 Oct M N V Of O N to N 0 n w n f) 0 w t0 V ,_ ^ V N t0 0 0 f0 w 00 N N (•� WC G v O U0 a)_ N •Q NN O QQ O Li m L O O O O O O O O O N cliNNN 'N N N C 7 a (h (h M M Cl) M M m (h M O N O N O M O O O a o 0 0 0 0 0 0 0 0 0 0 0 (O 0 O O O 0 A C n t0 00! M O O to tC N G O LL pon R N oOD_ O LL LL Q m C VI O( A .0- N etMO_ (00 Ln N y h t0 M M N J J J �- Z :3 a a a LL Q H a a a W W W W W W W W W W W Q W M y N U) N U) N N� QM Q Q W W w w w W W W W W W �. W W W W ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ O ❑ Q ❑ K cr w 7 J J J J J J J J J aQQ Q Qa QQQ Q OI L° > O �° 0 0 OI Im to J 0 W W W w a a a a a a a a a LL al z a Lo d m LL LL LL LL LL LL LL LL w LL > Q ❑ a/ > al > a7 > amyl > > Q Q Q 0 00 0 00 0 00 0 w a a Q < a 0 a z z z a g 0 3❑ J v Q Q Q a o N g F— W aO a H j a a N N o z U)FLL a, ❑ 2 z O W o~ N �== O N M V N n w 0 O (o t0 c0 0 w (0 co w w 0) N O �.LU w a ~ W o 0 0 0 0 0 0 o 0 0 CO) M M Cl) M M M M M rn f W N N N C CN co V >O MMM Cl) Cl) Cl) M Z 00 ~�••• O Om C � NW to W No z O aOo/ w ao wLf) CO C w z Q wz w � B z � >- ti O O z a U w O N m U W z C9 F- F- LL P un n w rn o W ~ ? Q o 0 0 coo co 0 0 0 O o 0 0 0 0 O W Q N U. 10 Q M M Cl) M M M Cl) M M Cl) M M M M M M M M M M N O J (� M (/� ,N ,N O O O a J N N N N N N N N N N 0 N w n a Q p p J W ro {i inv,vi WW(b yr ww in > y Q N V W .M o G0) in in � m o )- O O} vwi z �w U) V J (� W n0i y y >- N t}n c N « d 7G O Q Q a o U e �I 0 0 0 O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 C', o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o O O o 0 o O 0 0 o 0 0 0 0 0 0 0 o C! 0 0 0 0 0 O o O o 0 O o 0 0 0 0 O o 0 0 0 00 0 0 0 00 0 0 0 0 0 0 0 00 0 00 0 00 0 0 0 0 0 0 0 0o c o 0 0 0 0 0 0 0 0 0 o 0 0 0 0 00 0 00 d 0. wU � G w �Np m tm(QQ ttNQQ � Ntgg tmtQQ s N(gg cmcp m s((aq �m(q m m mtQ t m(� m m sm tm m ttmQ m tmtQ m m m m t mQ m cmcQQ � m(QQ m(� tmtQQ m Q Q Q Q Q¢ Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q N m o 0(0 O CD O OO O Ul)O 0 o)n O 00 M m0 0 00 0 00 00 0 Un)n o 00 7 O O N O O O O O O O n O 0 0 M )n 0 0 N M 0 0 0 0 0 99 In O O O N n O O O o 0 0 0 J9 00 � OD p M M "I N O) N M N O O M C,Y M aD $ m V O 0 0 (0 O O O O O O O Ul> O O O )n O 00 M O O O O O O 00 O O O u) O O O o O O N O O O O O O o n o O O M to O O N M O O O O O O O )n O O O )n n O O O q o o z C o o 0 0 o o m o O o m cN o o N o G O O o o 0 o o o O o O O o )N O) N M N O M act v)i n M n rn N v o to )n 7 O Z = W d C� E N Q � r 7 O o N O O O o 0 0 o n o 0 o M )pn o o N M o 0 0 0 0 0 0 o 0 0 In LO o 0 0 )n Ln n m O O O o O O O O O M o O O M N O O N v O O O O O O o 0 = O N o o n N O O O i v co N M N O M O OM _ ' N .O- 00 d � v0i � r N C v o 0 Lo v o W d 00 m = C' mm 0.L a 0 mm aoa00000aoo000000aQ0000ao0o0000a0000 O N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N � o—O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O O `0 `0 O p, 0 0 0 0 o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 `o o 0 0 0 o0. m m pl C La N LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL co (n N fn N fn W fn U) N U) fn N N (A rn to fA tq fn U) fn fn N N U y y N fn to fA (o (o co fn J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J J LL LLa a as a as a a m a a s a m a a a s m ad a a s a mn. a a. a. a a s r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r O� w z K 2' fY K fY w w fY K w w a: fY of fY K R' it fY fY w ir LL' fY fY d' w fY d' w w LL' 2 > > > > > > > > > n > > > > M > > > > > > > > > n > > > > > > M > > > 0 N N fn (n (n U) (n fn N h N (n N N h N (o N (n fn N (n (n 0) N fn fn N (o fn fn In (n N N h F- W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W W w w Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z 2 Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z Z > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > O 0 cc 0 0 0 0 c 0 0 D 0 0 0 0 a O C) 0 am 0 0 cc a cc D 00 Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q .Q Q Q Q Q N F- F F- F- F- F F- F- F7 F F- F- F F F- F- F- F- F F- F F- F� H F F- F- H F- F- F- F- F- F- W o O N M O N M O fV M O C) (p O N (7 O N M O N M O N P9 m o o 0 0 0 0 0 0 0 0 0 0 0 o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 c o 0 0 0 N N V O O ilY )n (0 (0 (p (0 (0 p ao op ao 0) W 0) W N N N N Cl) M M M M )n )n )n in to )n in M o In o )n in in a in in u) )n w )n )n )n O O Ln O O O O O O O O O O n n n n O O o O O O O 00 O O O O O O O O O 0 0 0 0 0 O O o p > O 0) 8 O 0) 0) 0) 0) 0) 0) O 0 Q) T O) Of 0) o) 0) Q) 0 0 D1 m 41 0) O) 0) 0) O) O) O) 0) O O O O d o 0 o ao ao 0 w 0 ao ao 0 0 0 0 0 o ro m o ro m o o au o o m ro o ao ao 0 0 0 0 0 e- e- .- .- .-- .- e- '- e- �- '- �- .- �- e- N N N N O o O N F- 1- H F- F F, F- F F, F- F- F, F- F- F, F- H F- F- F- F; N F- F- F; F- F; o QU) M 1D O N c7 O N M O CV M < O M f0 O N ('� O N (7 O N M O N M 0 0 0 O O O O O O 0 o 0 0 0 O O O O O O O 0 0 0 O o o O O O O O O o 0 LL,LO t I O (0 O (0 f0 w ro 10 CO W 0) O 0) N N N N M M M M M (n )n in (n )n (n )n 'n )n N a )n (n In )n w o )n v) W) in in O O O O O O O O O n n n n N o 0 0 0 0 0 o 0 o O o 0 o o o o 0 o o o 0 o 0 J O) (3) O) 0) 0 0) O) O) W O) (3) 0) 0) m 0) (A O) c) 0) O) 0) W 0 o) a) c)) a 0) a) W m a) o 0 0 o O a o m ao ao o ao (o ao ao co ao ro co co ao oo ao ao ro co co ao V a ao 0 m ao 07 ao ao w 0 o o o m ..1 (n W to fh y in fA (h in (n to N fn to N to (� !n in in in fn !o fo in in in co to to !o (o N fo N N N N 0 r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r} r r N N U N Cl) N N N N N 0 N to N to N (n N (n y to fn to N N (n w M L• am+' (nay �o QQ^ a f O a U� CID 0 o 0 0 0 00 0 0 0 0 00 0 0 0 0 0 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 O o 0 0 0 0 O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 O O O 0 00 0 0 0 0 0o 0 0 0 O O O 0 00 0 0 0 0 0 0 0 0 00 a 0 0 0 0 0 0 0 0 0 0 00 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 6 0 60 0 0 0 0 0 0 0 0 o 0 0 0 0 0 0 0 00 a 2 CL $� HU MA W M m� M � M c m� m m m m m m tfQ6 m �`a0 m m m m c1gO M m¢¢¢ rfg0 c/Q6 M M typo �M scga m tM sw t M M � M s M cM rmq M c M 9 Q¢ Q Q Q Q Q Q Q Q Q Q a Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q Q � m c3 � y m M O O O O O O O a0 O O O O aD O O O O O O O N (n O N O O O O O O O 00 O r n O O O r 0 O NU� cO 0 0 O 0 O O O O O O r o O O O O 0 0 0 0 0 0 0 IN c7 0 0 0 r 0 0-) w (, 0 0 . 0 0 0 w0 0 00 0 m 0 0 0 0 Y 1n (h c0 h O M O v v M O c0 N O M M V co O O r- N O a N O G0 M v co In cn OD N (NO_ c+N) N N � O m O IT m M O O O O O O O ro m O O O GO O O w mO O O N M O Na O O O O O O O O r 0 0 O N O O O r (l 0 0 O r o O N WY N O O O r o 0 (P O 99 O r o O 99 ja C) 0 0 O C O O N M O O O h 0 O c0 h 0 0 C C O O cG 0 0 0 0 O 0 0 0 0 N (D rl v 0) Cl) O a) N M O O N O (O V' M O O Of a O .-- � N O 0yO0 co n O� M M f7 N m N O v � U c � a� w E E y Q Gi � r m m M O O O O O O O co c0 0 o O co O O W O O O N M O e} N 0 0 0 O O O 0 0 0 7 r O O O N O O O h L. O r 99 O r O O N IQN O O O r o O f0 OR O O O r o O 99 la M O O O v 0 O O N M O O O 1- O 0 w w O O O O O O (O O 0 0 0 o M 0 0 0 0 O N lC`7� I- M M O co N Cl) aO O N O M (O v v M O O W V O r in O �Oi I to < (O v) O Cl) v co cri F` O ILM N M N N O y/ N C a) v LU U ,o a� c � 0 o� Nm;; rrr rrr rrr rrr rrrrrr rr -rr, rrr Q 0 a. o o o. o 0 o b o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 L❑ N N N N N N N N N N �V N N N N N N N N N N N N N N N N N N N N N N N N N O O O O O O O a a o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r r m m rnu (Ca U. LL LL LL LL LL LL LL w LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL LL w LL LL LL LL LL I.L. LL LL LL (n (n (n fn (o v) In U) U) N N (n N (p In fn V) N U) N en (n (n (1) (n W y N y In N N fn U) (1) In > > 7 > > > > > > > > > 7 > > > > > > > > > 7 > > 0 > > > > > > > J J J J J J J J J J J J J J J J J aW aa a a a aaa EL a a a aaW aaa aaa a a a a a a aaa a a a r r r r r r r r r r r rrr r r r r r r r r r r r r r r r r rrr r r m ct = Ix it D D D w � a: D w m a: a: of D w Ofw w D Ix It Ix CE w w s D It a: 0:w a:> > > > 7 U) U) > > > U) > > > 7 M > > 7 > > > > > 7 > > > > U) > > 7 > > M fn V) V) (n v) (n (n v) (n (n v) (n V) V) v) v) (n (n (n In (1) v) N (n to v) (n to (n N rn N (1) y v) (i) � � 6 �� i ��u u Ul6�� �u u L����� ��i�6���6� �� 0: Cr Ix Of w W w ita: w Ex w Ix Ix w w a' ix cr Ir a' 2 a' a' R a' a' x w w wa: a' a' a' m F F F F F- F F F !- F F F F F F- I- F F F- F F F F F F F F F F F F F CF F aFQQ QF ¢ a ¢ ¢ a Fa F F F Z 2 Z Z Z Z Z Z Z Z Z Z Z Z 2 Z Z Z Z Z Z Z Z 2 2 Z Z Z Z Z 2 Z Z Z Z Z a¢ a a a a a a Q a a a Q a¢ Q a a ¢aaaaa ¢ a¢¢ a a¢ a a a a a > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > > ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ ❑ F aaa ¢ a a Q¢¢¢¢ a¢¢ a ¢aaaaa ¢ a¢ ¢aaa ¢ Q a a Q a¢ a U) c W F- F- F F7 F- H F F- 1- F F- F; F F- F- F- F- F 1- F F- F- F- F F- F- F F F- F F7 H F F7 F- F- m O N M O N M v O N Cl) O N M O N M O N M O N M E Fes- 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o O a 0 0 0 0 0 0 0 0 0 0 0 0 0 N N (O c0 O1 W O) O) W M M M M M Cl(0 (p 8 CO CO OD pp ro 00 N N N N y h (� (� 1l N N N N cf) O O O O O O O O O O O O O O O O O O O O O O M M M M O O O O M Cl) Cl) M M O O O 0 0 0 O O O 0 0 0 O O O O O O O O O O O O O O O N N N N N Cl) M Cl) Cl) M M M M Cl) Cl) M M M M M M Cl) M Cl) In M Cl) M 0) � 0) j O 0) a o 0 0 O o 0 0 0 0 O o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N N O U � O N F F- F F F- F~ F- F F- F F F F F F- F F H F F F- F F F F F F F H H H N Q O N ch O N M v O N c7 O N ch O N M v 0 N (� O N N a O N Cl)' O O O 0 0 0 0 0 0 O O O O O C. O O O O O O W n N N �� N (O (O h co,0 aO O O O O O O O O O O O O O O 0 0 0 c a� O O O O CID O O O 0 0 0 0 O O O O M M� co O O O O N N N N N M M M (07 (0) co) M cn (+O) M M M M M M M (O+) M l07 f`07 l`O') M O) O) O) W O a J o 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 o O o 0 0 O o 0 0 m 0 0 0 0 0 J N N N N N N N N N N N N N CO N N N N N N N N N N N N N N N N N N (y N N N m W W } } } } } } > W } } } y } } } } } } } } } } } } } } } } } y } } 0 U U 3 V) (n (n V) V) (n (n In (n cn (n (n (n (n 0 0 (n (Al (n (n (n (n In (n V) rn In V) (n (n (n V) In V) V) N v m m ro a V W E C� E N Q dcm I C N Oc CO co H O M W d (� ,0 C� C cn Qa � a° gym, •c A U_ F� Y m m :s O � f y m m mlQ m m T l fmfQ fmfQQ 9 8 Q Q Q Q Q Q Q f m O O O O O O O O t7 O O O O O O O O � 7 O n O O O N O 0 O! i c O o 0 0 0 C T O Y cl � (D fA A 8 � - N tv c4 n A N � O O n O O O N W O 0 jp w) O OD O O O n to C M � t00 o A A A N tq Of N m t0 w O 7 O Lo to O O O N O O O� O O O AO O lh N w (D a A m N - O N 1 A eq b co m m 0 0 0 0 00 0 L O N N N N N N N O O O O O O O 0 A c �- m U- LL U. LL LL U. LL ID O (n to to to to <n tq a a > > > > D J J J J J J J a a a a a a a r >• Y w> Y �O„ N w cn NQ Qh QN QN Q5 QN W W W W W W w y W W W W W W W tp d a a a a a a a Z Z Z Z Z Z Z Q � Q Q Q Q Q � a ~ �+ W F� F- F F F� 0 0 0 0 0 0 QQQ E N N O O y CAI ("1 ko c rn rnrn rn rnrn rn ap 0 0 0 O o 0 0 N N N N N N N Q u O Q O O O O O O �y N N Y7 Ln Ln to LO N (h 0 W) O U) 0 O 0 a rn rn to w m d J N N N N N N N W 0 W } y } } U 3 cn cn cn cn cn cn cn w & o a a a a Nop�, Q N r N M 7 N A O, N i O � d N m �o o 3 6 Ot 01 i0 m 6 N U W c9� N G m m A L v m a w N A Y A Z v 4 ' v i IS i a � N Z � U � N ) m a 2'-1 o 2 2 O 7\ 2 2 ` %® g ■■ � � =2m n CD k � \ m / \ ) ( � � \ CD ® & J § [ @ k § % � k / E f 2£ - k (Aa CO § B % ] } ( k 7 a ( 3 ~ 0 E § Rs . . k Ch ~ ) 0 f& § a g# ( p. 7� C 9 t 0), m q $ k $ P 2 § R $ k < F E-4 d U Q a k§ w CD . 22 ® > . 'CID - 2 cn �kF / \/ $ t \ ® c � ■ ■ �� k c CO< # § ° _~` \k CD �§ »m ®® \m 8° 2� k� � f � _ k t \ k k § k <m PD §((% \ t & 3cc o } g P\ o 0 a A f \ 4to ' § §2 § a E k - � f � � © O 2G \2 \n 2 @ 0 0000 ;\ k� k < E (\fi -000 0 ;AC § 0 o cn O O m CD � _ cn' v n o -< -< _ c N N m H m 0 0 g °f L. z N O_ N N O W N O O � W (n U) O d # N m D m O O Ln Ln m d Q 0 3 a c c 7 n st 1D x m c m � n z w O A N O d N 0=1 t0 O W O cD N Go' N 0 0 � H O O O N N lD A c L Q Q O Z p o� d � �c P w ui C NGo CQ = OI O A N .a IV CD O ^ 3 N CD 0 41 A o cch Of O co W N V 0 A, co cG d co a o a o c eo w w aAwico o 0 o m x W OD d cc A a) p y A a 3 �c a m O d n� w r m o o 03 a0 o 0 > (0 o D N