HomeMy Public PortalAboutA 1988-02-17 LLDC I
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LYNWOOD LOCAL DEVELOPMENT COMPANY
BOARD OT' DIR�CTOR'S MEETING
WEDNESDAY FEBRUARY 17 1988 �i :,?
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. 3:00 P.M. �Q
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LYNWOOD CITY HALL CITY OF LYN`JVOOD I
11330 BULLIS ROAD CITYCLERKSOFr'ICE
LYNWOOD, CALIFORNIA FEB 1 1988
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A G E N D A k� �/J� /✓��� o,�
F9 (.G J � r
A) CALL TO ORDER C ��
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B) FLAG SALUTE �
C) ROLL CALL
, D) CERTIFICATION OF AGENDA POSTING
E) APPROVAL OF MINUTES - November 18, 1987
F) PUBLIC ORALS - ITEMS ON AGENDA ONLY
G) ITEMS FOR CONSIDERATION
1. Warrant Register
It is recommended that the Board approve the attached
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Warrant Register.
2. LLDC Membership Survey
At the January 13th meeting of the LLDC Board, approval
was given to distribute a survey l.etter to LLDC members
in order to update our current membership roster
Since the deadline for returning,the survey is today,
(February 17, 1988) staff is unable to report the surveys
results. A report and up-dated roster wi11 be presented
at the next LLDC Board meeting.
3. LLDC Public Information Program
Two press releases were ,issued by staff to local
press. The first for.usad upon the management
consul.-ting program and the second highlighted City ,
funding of the LLDC and its programs: As a result,
' there tias been an increase in calls from individuals
requesting information on LLDC programs.
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LLDC Agenda
February 17, 1988
Page 112
,, 4. Status Report - Ornamental Plaster
Staff has discussed the matter of Mr. Smith's loan
" statns with Mr. Smith and Security Pacific National Bank
representatives. ,Based on our discussions, staff is
recommending that the remaining loan balance ($3,790) be
applied to the existing loan amoun,t ($10,000) and that
: the remaining balance ($7,310) be refinanced and new
loan documents drawn.
' Sta£f has prepared the attached Memo and is requesting
Board approval to proceed. See Attachment B
5. LLDC Marketing Brochure
Staff has interviewed two advertising/graphic design
firms in relation to developing a marketing brochure for
the LLDC. Staff will be providing these firms with
additional materials so that design and cost proposals
can be developed and presented to the Board for their
' review and approval at next month's Soard meeting.
ITEMS EOR DISCUSSION
l,. Report by Economic Development Corporation of Los Angeles
, County.
, � � Comments . �
' David Rosenblatt, EDC Business Consultant, will provide an
update on EDC activities under the management assistance
program.
2. Financial Report
Attached is a report on the financial status and activities
of the LLDC.
H) STAFF REPORTS
I) . BOARD ORALS
J) ADJOURNMENT
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LYNWOOD LOCAL DEVELOPMENT COMPANY .
MINUT�S
January 13, ].988
LLDC Aoard Members Present: Chairman P7illiam Kolitz
Bernard H. I,ake
Jim Morton
Dr. Bernard Steuber
- ' Harry Prins .
_ City Staff Present: Francisco Jimenez, Sconomic
Development Specialist
City Staff Absent: Arthur Pd. hTaller, :
HCDA Coordinator
Guest: David Rosenblatt
. Business Consultant
(Economic Development Corporation)
` A. Opening Ceremonies
Ttie Special Meeting of the Board of Directors was called
to order at 3:10 p.m. by Chairman BiTl Rolitz.
E. Approval of Minutes - idovenber 18, 1987 ,
The Minutes were approved as corrected: Page 2-
' paragraph 1, the word "building" should read "business". •
G. Items for Consideration
1. Resolution 1 - "AUthorization to Conduct Bank
Transactions" was revised in order to be more generic
� and more adaptable to the needs of the LLDC. The change
has been made and is submitted to the Board today for '
action (copies distributed to Board Members). After
review, it was Moved, Seconded and Carried that the
revised Resolution be approved. The original
Resolution, signed by Attorney Sherman, will be picked
up from his office by NSr. Jimenez. A check can now be
signecl by one of two designated Board members, and one
, of two designated City of Lynwood staff persons.
2, warrant Reqister (copy attached) - It was i
_ Seconded and Carried to approve the•Warrant Register.
' Mr. Jimenez stated that a bill had been received from
' the Economic Development Corporation (EDC). At the last •
� meeting there was discussion regarding specific hours
designated for the I,ong Beach B1vd. facade improvement
area. There was also discussion as to the Board's
position regarding payment of EDC's bill. EDC is to
bill LLDC and provide an itemized statement of services.
° I,LDG will, in turn, pay for services as they are rendered
to avoid payment in advance of services. Mr. Jimenez
said a Y7arrant coill be issued to.the Board at a
� later date for payment to EDC.
�3. Report bv Cconomic Developnent Corporation of L
Angeles County
David Rosenblatt, FDC Business Consultant, provided an
update report stating there had i�een no significant
response from the business owners 'in the area as yet:
[•ir. Jay's Tanlales and Chilis has completed the program.
- Mr. Rosenblatt said he would like to spend some of the
hours allocated for the program by doir.g direct
one-on-one marketing with the businesses in the area.
Concerning rlr. Emmett Bradley, EDC is waiting on him to .
, � � �
- LLDC P•4inutes of
January 13, 1988 •
Page 2 �, .
progress further--he is awaiting his portfolio. P1r.
Rosenblatt has been unable to contact owner of
' Ornamental Plaster and Molding. He was given a
• marketing brochure proposal and sai.d he would give it
� consideration. I�ir. Jimenez saic3 he tvill be givi.ng a
report on the matter later in the meeting.
Two of the three LLDC assisted businesses seem to be
enjoying a bit of prosperity anci are progressing
according to plan. hir. RosenUlatt stated that the ,
assessment period of a business takes anywhere from 5 to
. 8 hours to sit down and go into an indepth discussion
� regarding narketing, accounting, etc. Dlr. Rosenblatt's '
contacts are macle on the recommendations from the LLDC.
' Chairman Kolitz asked how LLDC could attract people to
cone to then in order to create a more favorable
atmosphere and acceptance. Mr. Rosenblatt recommended a
mailing to City businesses under the signature of the
Chai.rman of the Board stating that a representative will
contact them; r?r. Rosenblatt also recommended getting a
listing of owners for a door-to-door survey in order to
meet with persons operating businesses. Mr. Jimenez
said the staff has been a�.�are of the problem. Staff is
developing a f_ullblown publicity campaign using press
releases (at no cost to LLDC), and perhaps a brochure
for mailing. There o��s a suggestion to have Mr.
Rosenblatt follow up on a list of names (previously
obtained) from persons in i:he area who were interested
in receivi.ng loans for their businesses to see if that
interest still remains. The Budget contains
apgYOximately 52,500 for printi.ng, advertising, etc.
Mr. Jimenez and Mr. Rosenblatt will meet to finalize
details for this publicity venture. A roster will be
given to Mr. Rosenblatt.
There �aas a suggestion that Bill Carson, of Commuter Bus
an� Tour Co., be contacted to see if he is still interested
in qualifying for a loan. Mr. Rosenblatt feels that
with direct marketing, a far better response will be
obtained. Mr. R.osenblatt has a consultant available
, to assist in preparing a pamphlet for mailing i.f staff
. is unable to do so. 4�hen a program is marketed directly a
response could be immediate, or it nay take as long as 3-4
weeks.
' d. LLDC t4embership Status
Staff has drafted a letter for Board approval to poll
interest in remaining members of LLDC .to establish -
who is an active member �nd who is not. The letter
will be mailed, with a request for return by a
speci£ic date. Those who do not respond by that date
' will be deemed non-active men�bers. The letter will be �
followed up with a reminder phone call. It ��as Dioved,
Seconded and Carried to approve the letter for mailing.
. Staff will mail the letter within the next few days.
5. Financial P.eport
Mr. Jimenez wanted to bring the IIoar.d up-to-date
relative to the operating budget. $90,000 has been
deposited in a ti.me-s�ving account. Thus far
51,661 has been received in interest. The Chairman
is reauesting a Financial Statement for the next
meeting along with a balance sheet, and for everlr
meeting thereafter.
Chairman. Koli.tz inquired into status of Ornamental
Plaster and Molding. Mr. Jimenez will talk with t4r.
� Smith (loan recipient of LLDC) to rnake it clear that the
Board is concerned about the solvency of the business
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LLDC Minutes of
January 13, 1988
Page 3
and initiate specific requirements in terms of draw-downs
on the loan. Mr. Smith has 53,790 left of the loan; he
is in arrears with his rent at the present time; and he
is in the process of vacating the premises. Mr.
Smith has been informed by staff there will be no more
additional rent subsidies. After discussion, it was
su99ested to keep the door open so that if at some time
in the future Mr. Smith should have a viable
project that would be cost effective, he would then
be able to present it to as arrangement for payment of
the monies already received. It was Moved, Seconded and
Carried to leave the contract matter status quo for the
time being. Mr. Jimenez will contact the bank and obtain
their position and then get back to the Board with a
recommendation as to this matter.
H. STAFF REPORTS
6. Lonq Beach Boulevard Facade
Mr. Jimenez said the staff is presently formulating a
financing plan and develpin9 a 55000 incentive program
where the City will provide 55000 to improve building
facades in the area and fund a comprehensive street
design plan which will include street furniture, bus
benches, pedestrian walkways, and tree planting to give
the area a real nice mall-type atmosphere. They are
meeting today with the architects and the Department of
Public Works, and expect the first construction to begin
in mid- February. Mr. Jimenez will keep the Board posted
as to the outcome of this meeeting.
Board Members are not eligible for any of these loans.
Dr. Steuber asked if he could give a proxy in his absence.
It was determined that no such rules are contained in the
By-Laws and therefore cannot be done.
7. Adjournment
The LLDC meeting adjourned at 4:15 p.m. Motion carried
by unanimous vote.
Respectfully submitted,
Bernard H. Lake, Secretary-Treasurer Date
T: 1/15/87/ab/MMSS
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RESOLUTION N0.
A RESOLUTION OF THE LYNWOOD LOCAL
DEVELOPMENT COMPANY ALLOWING AND
APPROVING THE DEMANDS AND ORDERING
- WARRANTS THEREFORE
The Lynwood Local Development Company (LLCD) does hereby
resolve as follows:
SECTION 1. That the demands presented, having been audited,
are hereby allowed and approved, and that warrants ordered drawn
therefore by the LLDC treasurer to the payee and in the amounts
indicated.
Warrant Payee Description Amount
(1) Med. Mgmt. Support Service Professional Serv. $50.00
(2) Celestial Studio Photographic Serv. 175.73
(3) Economic Dev. Corp. 80 hrs�: Consulting 4,000.00
SECTION 2. That the agency secretary shall certify to the
adoption of the resoluton and shall return a copy thereof for
the record.
PASSED, APPF.OVED and ADOPTED this day of
1988.
WILLIAM KOLITZ, Chairman - BERNARD LAKE, Secretary-Treasurer
APPROVED AS TO FORM: ' �
CARL W. SHERMAN
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Economic Development Corporation of I;o`s Angeles County
550 S. Vermont A�enue, 3td Floor
� ` Los Angeles. Celifomia 90020 �
� _. (273)387-0322
February 8, Y988
Mr. Francisco Jimenez
City Lynwood
11330 Bullis Rd.
Lynwood, Ca. 92602
,, Dear Francisco:
Enclosed for.your review is the quarterly report on billing hours
charged versus incurred for the period of November 1, 1987 to
January 31, 1988. This report details the hours accumulated since
the report reflecting August 1, 1987 to October 31, 1987.
Currently two additional businesses have entered the client
• assessment phase. The first is Mid-Cities Stationers and the
�� second is Lyn-Gate Liquor. Both businesses will take '
, approximately sixty five to seventy five hours to complete their
assessment and in depth counseling. 2his will leave approximately
eighty five hours'to continue additional marketing and assistance
to local businesses through the December billing.
. The January billing and any subsequent billing will be held until
the hours remaining more closely reflect those hours incurred
from the statement.
As with any for profit operation, cash flow is a critical factor
in a smooth running business. As a non-profit business cash flow
becomes even a more critical factor and onr billing system has
been set up to anticipate future expenditures accordingly. This
has been done aTthough we may not reconcile a cities contract
until after the actual expenditures have taken place. Hopefully,
this adequate2y explains our need to bill in advance for services
the city has not already received.
, Should you have any further questions please contact me at your
convenience.
, Sincerely, � l/ �
� l�f--
David Rosenblatt
Business Analyst
enclosure
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. CITY OF LYNWOOD
BILLING FORMAT AND RECONCILIATION
� NOVEMBER 1987-JANUARY 1988
BILLLNG FORMAT _
' TOTAL CONTRACT 500 HOURS $25�000
° DURATION 6 MONTHS 6 MONTHS �
MONTHLY BILLING $3.00 HOURS $4�150.00
RECONCILIATION FORMAT
-• TOTAL HOURS BILLED: ,
HOURS AMOUNT
NOVEMBER 1987 83.00 4,150.00
DECEMBER 1987 83.00 4,150.00
166.00 $8,300.00
TOTAL HOURS INCQRRED FOR THE PERIOD 11/1/87 TO 1/31/8B
' MARKETING \ ADMINISTRATION 27.50 1375.90 �
' FINANCIAG'MODEL 1.50 75..00
CLIENT ASSESSMENTS 11.00 550.0.0
(See attached sheet
for breakdown)
: IN-DEPTH COONSELING 40.00 2000.00
" (See attached sheet ,
for.breakdown),
,
TOTAL HOURS INCURRED 80.00 $4,000.00 `
Subtotal: 86.00 $4,300.00
PREVIOUS BILLING HOURS CARRIED
. FORWARD-OVERAGE/ (UNDERAGE) 74.00 $3,700.00
HOURS,BILLED OVERAGE/ 160.00 $8,000.00
, (UNDERAGE) _=_________°____°____________
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CITY OF LYNWOOD
BILLING AND RECONCILIATION FORMAT
CLIENT ASSESSMENT 6 IN-DEPTH COUNSELING BREAKDOWN FORMATS
CLIENT ASSESSMENT BREAKDOWN FORMAT:
NUMBER
BUSINESS NAME AREA OF ASSISTANCE STATUS OF HOURS
COMPANY A FINANCIAL ACCOUNTING & 0.00
COSTING Of PRODUCTS COMPLETED
COMPANY B MARKETING PLAN FOR 0.50
NEW TARGET MARKETS IN PROGRESS
COMPANY C MARKETING PLAN FOR 5.00
NEW TARGET MARKETS CANCELLED
COMPANY D MARKETING PLAN FOR 5.50
EXPANDED TARGET MARKETS IN PROGRESS
TOTAL CLIENT ASSESSMENT HOURS 11.00
IN-DEPTH COUNSELING BREAKDOWN FORMAT:
NUMBER
BUSINESS NAME AREA OF ASSISTANCE OF HOURS,
COMPANY B MARKETING 0.00
, COMPANY D MARKETING 90.00
COMPANY E 0.00
COMPANY F 0.00
. TOTAL IN-DEPTH COUNSELING HOURS 40.00
COMPANY A: MR. J'S TAMALE 6 CHILIS COMPANY E:
COMPANY B: CELESTIAL STUDIOS COMPANY F:
COMPANY C: ORNAMENTAL PLASTER & MOLDING COMPANY G:
COMPANY D: COMMUTER BUS LINES COMPANY H:
�CURRENTI.Y IN THE CLIENT ASSESSMENT PHASE ARE TWO BUSINESSES
LOCATED ON LONG BEACH BLVD.� ONE SOUTH OF IMPERIAL THE OTHER IS
NORTH OF CENTURY BLVD. AND WILL BE INCLUDED IN FUTURE BILLINGS.
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Attachment B ,
Ratie Branch '
Loan Officer � � � -
� Community Development Center � . .
� " Security_Pacific National Bank � � �
8141 2nd Street, Suite 330
�" Downey, California 90241
RE: LLDC Loan to Mr. & Mrs. Clyde Smith '
.. Dear�Ms. Branch: � .
You are authorized to draw loan documents to refinance Mr. Clyde ,
� Smith's loan in the amount of Seven Thousand-Three Hundred and ��
Ten Dollars ($7,310). This amount-represents the actual amount
��� � drawn by Mr. Smith from loan proceeds. � �� �
. Also enclosed is a check �for Three Thousand-Seven Hundred� and
�� N�inety Dollars ($3�,790). �Thi�s a�mount represents funds� currently �
� � on deposit which were not used by Mr. Smith. . �
'Terms for the new loan documents are as follows:
Interest.Rate:, 3%
'' - Term: Seven Years
�� If'you'have any q'uestions, please contact me at 603-0220, extension� ��
291.
Sincerely,
� � Francisco Jimenez � ' � �
� Economic Develonment Specialist . , � `
' � �
1
LYNWOOD I.00P.L DEVELOPMENT COMPANY
BALANCE SHEET
As of January 29, 1988
ASSETS
Certificate of Deposit $91,611'.08
Checking Account 2,493.00
Savings 2,437.00
1. Notes Receivable 24,300.61
TOTAL ASSETS $120,891.69
LIABILITIES
Econ. Dev. Corp_ 16,85-0:00
Med. Management Service 250.00
2. Contingent lib./Smith 3,790.00
TOTAL LIABILITIES 20,890.00
LLDC Equity 100,001.69
TOTAL LIABILITIES AND EQUITY $120,891.69
NOTES
1. See SPNB Dealer Statement for comments
2. Balance remaining from Smith Loan amount
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AND LOAN ASSOCIATION
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11170 LON� BEACH BLVD. - ' -
INSURED TO 5100,000 �Zi3��638CO510262
B Y T H E F S L I C .;:' �; �>, 7'''-'
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�YNWOOD LOCAL DEVELOPMENT C0. pCC0��1NT NUMBER 4-375752`5
11330 BULLIS ROAD
LYNWOOD, CA. 90262 STATEMENT DATE 01-14-88
CHECKS ENCLOSED Z
, °
WORLD'S MONTHLY MONEY-MAKER °=�.�..:=•-- -v��':.�s% '-�"" " "
WORLO'S NEW 6-MONTH MINNIE JUMBO GIVES YOU A JUMBO-SIZE RATE ON A+10.000 .
` HININUM DEPOSIT> FOR A CONVENIENT Shi�RT TERM. GET A MAXI-RETURN ON YOUR
"MINNIE" INVESTMENT! . �
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� -_ - HI-RATE CHECKING ACCOUNT SUMMARY
� BEGINNING I OEPOSITS/ I INTEREST I CHLCKS/ I SERVICE I ENDING I
� BALANCE I CREUITS I EARNE� I DEBITS I CHARGES I BALANCE I .
� 2 687 40 I 0 00 I 17 09 I 205 49 I 0 00 I 2.493.00 �� ,�
,_..-,_• ,,z ,: ,.-� .,..a,,:ar: •... SEQUENTIAL CHECK IISTING . .:_. .,:,_ .,,. ..
I NUMBER DATE AMOUN7 I NUMBER DATE AMOUNT I NU116ER DATE APIOUNT I NUM6ER DATE AMOUNT I
� 102 12 17 50 00 � 105 12 28 1�5 49 � I —�
� INDICATES A SKIP IN SEQUENTSAL CHECK NUPIBERS .
-�, :�_ - -_ ;, :t,". HI-RATE CHECKING ACCOUNT ACTIVITY SUPIMARY ��� -_- - •-�- =--==
i
�� �DATE I AMOUNT I ITEM DESCRIPTION I BALANCE I - �
I 12-15 I I BEGINNING BALANGE I 2 I I
I 12-17 � 50.00 � CHECK 102 . � 2.637.40 � ��
I 12-28 I 155,4o I LNECK. 105 I 2 i �
I�12-31 I 6.23+ I CHELKING INTEREST CREDIT I 2.488.14 �
� O1 14 � 4 86 � CHECKING INTEREST CREDIT � 2.493.00 � .
r•-z-• - -° HI-RATE CHECKING INTEREST INFORMATION '
� BEGINNING DATE I ENOING DATE 1 INTEREST RATE I �
� iz-is-a� I iz-zi-a� I 5.16 I
1 i2-zz-a� I oi-ii-sa I s.ii I
� oi iz sa i oi-i4-aa I s.ii I
THE AVERAGE ANNUALIZED PERCENTAGE RATE FOR NI-RATE CHECKING ACLOUNT FROM � I
12-15-87 THROUGH 01-14-88 WAS •5.12 BASED ON THE ABOVE UAILY RATES. . - I
INTEREST EARNED YEAR-TO-UATE 4.86
. NOTE� 1987 INTEREST EARNE� ON THIS ACCOUNT WAS 593.G2 -
FORWORLO'SLATESTRATESCALLI-800-HOT-RATE(1-B00-468-7283) � I
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� DEALER OFFTLE ' 2:.
" DEALER HAHE � HO CSC N0. DATE - PAGE ,;:
• BSI 403 DEALER SUMMARY �rr+w000 2649 0660 RECOURSE: 1 olizviae i r:
�
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`�� ADJ C L N Y T TE -
OFF� LOAH STATUS ANOUHT BOOK OVER U A A CR COLL R E E% HRITE BUY RATE PURCHASER -
� NO HO FIHAHCEO VALUE BO�K L H R RT DESC H R RC RATE RATE EXCP HRtIE ��^:
- ��, L R D M NP i�u�
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� � � ___"_'___"'_'_"_""'__'__"'_""_""_'____'__" ;
` *�■ ACTIVITY SUMIARY ��• :,;;:,��j
� . LAST MONTH THIS MON7H '
CON7RACT5 NO ANOUNT NO At10UNT �'°'
� � . � � � -� �� PURCHASEO 0 :00 0 •�0 ��'+,�
� '� � - OVERBOOK 0 � � •00 0 •�a ti;�'v
`"� OUTSTANDING 3 28.303.67 3 28.090.61 :;
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- �- ■�� OEALER PARTICIPATION ���
- BEGINNING PARTICIPATION BALANCE ,00 .�ii
� EARNE� PARTICIPATION � .00. `:�P�
''�si .
REVERSALS � .00 ;,��:
� � � - NET PARTICIPATION ISUB-TOTJ. .00� .00 ^`
�- DIRECT DEBITS � .. � .00 �
` - - DIRECT CRE�ITS •�� ��<c��
�_�
' �� � ENDING PARTICIPATION BALANCE - :00 '`;�
�-��
� � � � 1 '_'_"_____"""___"'_"_ ____"'_"___ ,....
-------------
..: -- --....... .._: . ----- ------ ------ - -- ,.
- ■�+ DELINQUEFtT CONTRACTS ��* ''-���
NOTES NUhBER PERCENT AMOUNT PERCENT ;'�
90 S OVER 0 0.00% .00 0.00% �!w'
�� � ' 60-89 0 0.00% .00 0.00% �,'[' ��
>:'`%
�_ Balance remaining from Smith loan ($3�79�� 30-59 1 33.33% 9 34.50% �i
� �
SUB–TOTAL 1 -33.33% . 9�691.23 34.50% ,
was deducted from receivables. ; ; uNOea ao 0 o.00z .00 o.00z �
- �' ; TOTAL 1 - �33.33% �- 9.691.23 34.50% s ��: v
� � •
� �
Amount was then added back as a contingent ' ' �
Mw..w . nfHii� 9 Fw6LTx N�i .'. i;f wd' w� 1 T�uYa.�. � � ""_��""""" .'�" '� �"""�"""'_"�"' ll
� °� ° -� '' - '' liability to the LLDC. �
� � ■�* CONTRAL7S PURCHASED +�*■ � � *�� CREOIT RATING +��� ��:sa'
- . . . NO - � � AftOUNT - . . � . Np . �CZi ..
� ha� . :(;
� `' � NEW 0 .00 A 0 I�_� v �
' USED 0 .00 . _ B � ' '
— . . C O . ,('I
- � ' .. TOTAI 0 - � :00 G - 0 ^'; i ,� ..:..
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�- ' 2Y ^'MPLE IHTEREST LOAHS � BY DATE � ;�;
GLQ tiFl CONRAD FEB 0 2 jgg8
_ � " � .'�ssis!a��t Operations Supervisor -" - �
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� SECURITY • •
PACIFIC
NATIONAL
��O BANK " STATEMENT PERIOD
LYNWOOD OFFICE -
3200 IMPERIAI HIGHWAY JAN O1 87 THRU DEC 31 87
lYNW00D CA 90262 � �
PAGE
LYNWOOD LOCAL DEVELOPMENT 1 OF 1
� CORPORATION BEGINNING BALANCE
- 11330 BULLIS ROAD
REGULAR SAVINGS LYNWOOD CALIF 90262 0.00
0146 745841
� � ENDING BALANCE
2437.62
ACTIVITY DESCRIPTION WITHDRAWALS DEPOSITS/ DATE BALANCE
INTEREST
------------ -------- -------------
--------------------------------------------- -
----------- 0-.00
BEGINNING BALANCE ON 01-01-87 10500.0�0 03-31-87 10500.00
DEPOSIT 04-06 10400.�00
100.00
WITHDRAWAL 04-06-87 400.00
WITHURAWAL 10000.00
132.13 OS-OS 532.13
DEPOSIT 132.13 06-03 664.26
DEPOSIT 13.39 06-26-87 677.65
INTEREST PAYMENT � 10000.00 06-29-87 10677.65
DEPOSIT - 100.00 07-08-87 10577.65
WITHDRAWAL 10000.00 07-OS-87 577.65
WIT�HDRAWAL 132.13 07-10 7U9•78�
DEPOSIT � 132.13 08-12 841.91
DEPOSIT 132.23 OS-14-87 974.14
DEPOSIT 132.13 09-11 1106.27
DEPOSIT 10000.00 09-16-87 11106•.27
DEPOSIT 09-18-87 1106.27
WITHDRAWAL 10�000.00
132.23 09-23 1238.50
DEPOSIT - 23,49 09-28 1261.99
INTEREST PAYMENT 132.13 10-16-87 1394.12
DEPOSIT � 179.68 10-23-87 1573.80
DEPOSIT � 132•23 10-27-87 1706.03
DEPOSIT � Z64.36 11-18-87 � 1970.39
DEPOSIT 179.68 1�1-23 2150.07
DEPOSIT 132.13 12-17 Zz82•ZD
DEPOSIT 132.23 12-24 2414.43
DEPOSIT 23.19 12-29-87 2437.62
INTEREST PAYMENT -------- -----------'-
SAVINGS RATE INFORMATION
------------------------
RATE FROM TO RATE FROM TO RATE FROM TO
5.000 01-01 12-31 . � �
WRITEUTHIS�BANK�NGEOFFICEEORCPHONECUSCATV(213)N603D20Z3DIRECT DEPOSITS, � .- ' _
� ---- ------------------------------
-------------- ------------
WE. AT SECURITY PACIFIC, THANK YOU FOR BEING OUR CUSTOMER IN 1987 AND LOOK FORWARD
� TO SERVING YOU IN 1988.
BEST WISHES FOR 7HE NEW YEAR!
-----------------------------------------------------------------
'7he numher shown is the taxpayer number under vihich interest ot TAXPAYER NUMBEF' INTEREST PAID YEAR-TO-DATE STATEMENT�DATE THES ST TEMENT
510.00 or more received on ihis account is reported b me Internal 60. 07 12 FOR vOUR
Revenue Service and �he State ol Calilornia as required by law. II you 95 0 O81 RECORDS.
have not providetl us with your taxpayer numher or if this num6er is
incorrect please advise us at your earliesl convenience. � , .
NOTE: Tax Reporting does nol pertain to Interest Paymenls to Tax IF ADDRESS SHOWN IS INCORRECT, PLEASE ADVISE US. MEMBEP FD
Shelter Retirement Pians unlil distribul'an ol funds. n a-as rorc
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