HomeMy Public PortalAboutA2011-08-02LPFAThis Agenda contains a brief general description of each item to be considered. Copies of the Staff
reports or other written documentation relating to each item of business referred to on the Agenda are on
file in the Office of the City Clerk and are available for public inspection. A person who has a question
concerning any of the agenda items may call the City Manager at (310) 603 -0220, ext. 200.
Procedures for Addressing the Council
IN ORDER TO EXPEDITE CITY COUNCIL BUSINESS, WE ASK THAT ALL PERSONS WISHING TO
ADDRESS THE COUNCIL FILL OUT A FORM PROVIDED AT THE DOOR, AND TO TURN IT IN TO
THE CITY CLERK PRIOR TO THE START OF THE MEETING. FAILURE TO FILL OUT SUCH A FORM
WILL PROHIBIT YOU FROM ADDRESSING THE COUNCIL IN THE ABSENCE OF THE UNANIMOUS
CONSENT OF THE COUNCIL.
AGENDA ITEMS ON FILE FOR CONSIDERATION
AT THE REGULAR MEETING OF
THE LYNWOOD PUBLIC FINANCING AUTHORITY
TO BE HELD ON AUGUST 2, 2011
5:00 P.M.
COUNCIL CHAMBERS
11330 BULLIS ROAD, LYNWOOD, CA 90262
AIDE CASTRO
PRESIDENT
JIM MORTON
VICE PRESIDENT
RAMON RODRIGUEZ
MEMBER
CHIEF ADMINISTRATIVE OFFICER
ROGER L. HALEY
SECRETARY
MARIA QUINONEZ
AUTHORITY COUNSEL
FRED GALANTE
OPENING CEREMONIES
1. CALL TO ORDER
2. ROLL CALL OF MEMBERS
Alfredo Flores
Ramon Rodriguez
Maria T. Santillan
Jim Morton
Aide Castro
3. CERTIFICATION OF AGENDA POSTING BY SECRETARY
RECEIVED
JIrL 2 8 2011
CITY OF LYNWOOD
CITY CLERKS OFFICE
m o r .O' Qvi/ b"')-
G;+) Gjr' K L.�.
ALFREDOFLORES
MEMBER
MARIA T. SANTILLAN
MEMBER
ASSISTANT CITY MANAGER
ROBERT S. TORREZ
CITY TREASURER
SALVADOR ALATORRE
1
PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
PUBLIC ORAL COMMUNICATIONS
IF AN ITEM IS NOT ON THE AGENDA, THERE SHOULD BE NO SUBSTANTIAL DISCUSSION
OF THE ISSUE BY THE LYNWOOD PUBLIC FINANCING AUTHORITY, BUT LYNWOOD
PUBLIC FINANCING AUTHORITY MEMBERS MAY REFER THE MATTER TO THE STAFF OR
SCHEDULE SUBSTANTIVE DISCUSSION FOR A FUTURE MEETING.
(The Ralph M. Brown Act, Government Code Section 54954.2 (a).)
CONSENT CALENDAR
All matters listed under the Consent Calendar will be acted upon by one motion affirming the action
recommended on the agenda. There will be no separate discussion on these items prior to voting
unless members of the Authority or staff request specific items be removed from the Consent
Calendar for separate action.
4. MINUTES OF PREVIOUS MEETINGS:
Regular Meeting — June 21, 2011
5. TREASURER'S QUARTERLY INVESTMENT REPORT
Comments
The purpose of this item is to have the Honorable President and Members of the Lynwood Public
Finance Authority review the Treasurer's Quarterly Investment Report as required by State Statutes.
(CT)
Recommendation:
The City Treasurer respectfully recommends that the Lynwood Public Finance Authority receive and
file the attached Quarterly Investment Report for the quarter ending June 30, 2011.
ADJOURNMENT
THE LYNWOOD PUBLIC FINANCING AUTHORITY MEETINGS WILL BE POSTED AS NEEDED. THE
NEXT MEETING WILL BE HELD IN THE COUNCIL CHAMBERS OF CITY HALL, 11330 BULLIS ROAD,
CITY OF LYNWOOD. CALIFORNIA.
n
AGENDA STAFF REPOR
o ,
'�1tm .@j .A`
y.
DATE: August 2, 2011
TO: Honorable President and Members of the Public Financing
Authority
APPROVED BY: Roger L. Haley, Chief Administrative Offi er
PREPARED BY: Maria Quinonez, Secretary
Kristina Santana, Deputy City Cle kkS
SUBJECT: Lynwood Public Finance Authority Minutes
Recommendation:
Staff recommends the Lynwood Public Finance Authority approve the following minutes:
Regular Meeting —June 21, 2011
Background: N/A
Discussion & Analysis: N/A
Fiscal Impact: N/A
Coordinated With: N/A
ITEM
40
LYNWOOD PUBLIC FINANCE AUTHORITY
REGULAR MEETING
June 21, 2011
The Lynwood Public Finance Authority of the City of Lynwood met in a regular meeting
in the Council Chambers, 11330 Bullis Road on the above date at 5:18 p.m.
President Castro presiding.
Members Flores, Rodriguez, Santillan, Morton and Castro were present.
Also present were Chief Administrative Officer Haley, Authority Counsel Galante,
Secretary Quinonez and City Treasurer Alatorre.
Secretary Quinonez announced that the Agenda had been posted in accordance with
the Brown Act.
PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE
PUBLIC ORAL COMMUNICATIONS
NONE
CONSENT CALENDAR
It was moved by Member Rodriguez, seconded by Member Flores, to approve the
consent calendar and receive and file staff reports.
AYES: MEMBERS FLORES, RODRIGUEZ, SANTILLAN, MORTON AND
CASTRO
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
Item #4. MINUTES OF PREVIOUS MEETINGS:
Regular Meeting — May 3, 2011
1
Item #5. GOVERNMENTAL ACCOUNTING STANDARDS BOARD STATEMENT NO. 54
FUND BALANCE CLASSIFICATIONS
AYES: MEMBERS FLORES, RODRIGUEZ, SANTILLAN, MORTON AND
CASTRO
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE
RESOLUTION NO. 2011.006 ENTITLED:
A RESOLUTION OF THE LYNWOOD PUBLIC FINANCE AUTHORITY CLASSIFYING THE
VARIOUS COMPONENTS OF THE FUND BALANCE AS DEFINED IN GOVERNMENTAL
ACCOUNTING STANDARD BOARD'S STATEMENT NUMBER 54
CLOSED SESSION
NONE
ADJOURNMENT
Having no further discussion, it was moved by Member Flores, seconded by Member
Rodriguez, and carried to adjourn the regular Lynwood Public Finance Authority
meeting at 5:20 p.m.
Aide Castro, President Maria Quinonez, Secretary
2
' y,}9RI 1
� ry
p A GEN DA ST REP
a
ytA , iD�
DATE: August 2, 2011
TO: Honorable President and Members of the Public Finance Authority
APPROVED BY: Roger L. Haley, City Manag
PREPARED BY: Salvador Alatorre, City Treasurer 5, j
Sheila Harding, Deputy City Treasurer 5�
SUBJECT: Treasurer's Quarterly Investment Report
Recommendation:
The City Treasurer respectfully recommends that the Lynwood Public Finance Authority
receive and file the attached Quarterly Investment Report for the quarter ending June,
30, 2011.
Background:
In response to the crisis caused by the Orange County investment pool, the State
Legislature in 1995 enacted SB564 and SB866. These laws were enacted as State
Statutes to impose certain mandates regarding investment with public funds. The
statutes have imposed the following mandates:
1. Annual adoption of an Investment Policy that incorporates changes mandated
by the State.
2. Quarterly Investment Reports presented to the Legislative Body or Board
Members.
3. Restriction on the use of certain investment instruments.
The attached Treasurer's Report has been prepared to provide the following
information:
1. Types of investments (including principal, market value rates, and maturity
dates).
2. List of various bank accounts with banking institutions. I r%%o"IN"
ITEM
�5
3. Statement informing each Agency (City, LRA, and LPFA) that they are
expected to have sufficient liquid funds to meet their pooled expenditure
requirements for the next three (3) to six (6) months.
4. Statement informing the Lynwood Public Finance Authority that the
investment portfolio conforms to the adopted investment policy.
Fiscal Impact:
The action recommended in this report will not have a fiscal impact on the City.
Coordinated With:
Bond information provided by the Finance Department.
CITY OF LYNWOOD
QUARTERLY REPORT
June 30, 2011
SUMMARY
TOTAL INVESTMENTS & AVERAGES $ 33,987,725.76
I certify that this report accurately reflects all pooled investment policy statements
SALVADOR ALATORRE adopted by the City Council on August 15, 1995. A copy of this policy is available
CITY TREASURER at the office of the City Clerk. The Investment Program herein shown provides sufficient
cash flow liquidy to meet 3 to 6 months estimated expenditures.
Treasurers report June 2011
AVERAGE
BOOK
PERCENTAGE ( %)
DAYS TO
INVESTMENTS
VALUE
PORTFOLIO
MATURITY
TOTAL INVESTMENT
$
25,607,341.39
84.38
1
CERTIFICATE OF DEPOSIT /PASSBOOK/
MONEY MARKET /CUSTODY HOLDINGS
$
8,380,384.37
24.66
N/A
TOTAL INVESTMENTS AND AVERAGES
$
33,987,725.76
100%
TOTAL INVESTMENTS & AVERAGES $ 33,987,725.76
I certify that this report accurately reflects all pooled investment policy statements
SALVADOR ALATORRE adopted by the City Council on August 15, 1995. A copy of this policy is available
CITY TREASURER at the office of the City Clerk. The Investment Program herein shown provides sufficient
cash flow liquidy to meet 3 to 6 months estimated expenditures.
Treasurers report June 2011
CITY OF LYNWOOD
QUARTERLY REPORT
30- Jun -11
INVESTMENTS
INVESTMENT PAR MARKET BOOK
ISSUER VALUE VALUE VALUE
Money Market Funds
1,501,471.89
1,501,471.89
1501471.89
LAIF
21,605,869.50
21,605,868.50
21608869.5
Federal Agency Coupon
500,000.00
499,360.00
499,375.00
Federal Agency Coupon - Callable
2,000,000.00
1,996,275.00
1,999,125.00
TOTAL 25,607,341.39 25,602,975.39 $25,608,841.39
OTHER ACCOUNTS
US BANK - CD
BANK OF AMERICA - Time Deposit
BANCO POPULAR -MM
BANCO POPULAR - HUD SECTION 108
VARIOUS ACCOUNTS
TOTAL
81,512.85
81,512.85
$81,512.85
157, 942.82
157, 942.82
157, 942.82
80,143.91
3,821,955.42
3,821,955.42
$3,821,955.42
4,238,829.37
4,238,829.37
$4,238,829.37
8,380,384.37
8,300,240.46
8,300,240.46
Treasurers report June 2011
CITY OF LYNWOOD
QUARTERLY INVESTMENT REPORT
June 30, 2011
CURRENT MATURITY STATED INTEREST
BALANCE DATE RATE RECEIVED
US Bank
CD
HUD SECTION /108
MONEY MARKET
BANK OF AMERICA
CD -LRA
LRA - BANCO POPULAR
Premier Bus. Money Market
$81,512.85
14- Mar -11
N/A
$41.10
$3,821,955.42
N/A
0.05%
$318.76
$157,942.82
8- Dec -11
0.130%
$155.63
80,143.91
Treasurers report June 2011
VARIOUS ACCOUNTS
CITY OF LYNWOOD
QUARTERLY REPORT
June 30, 2011
FACE
VALUE
STATED
RATE INTEREST
MUNICIPAL INVESTOR ACCOUNTS
US BANK
CITY - PASSBOOKS
US BANK
CITY - HCDA
US BANK
CITY - LYNWOOD TTEES HUD 1990
US BNK
CITY - RECOVERY ACT JAG GRANT
US BANK
LYN. TR. CENTER
UNF. WORKERS ACC.
US BANK Closed
LRA ALAMDA HOUSING
US BANK
ECONOMIC DEVELOPMENT
US BANK
LRA AREA A HOUSING
US BANK
HOUSING AUTHORITY A
US BANK
HOUSING AUTHORITY B
US BANK
TAXABLE TABS HOUSING PROJECTS
BUSINESS CHECKING ACCOUNT
CITY - US BANK
HOME PROGRAM
TOTAL
49,020.64 0.04%
5,804.95 0.04%
170,021.73 0.04%
58,656.61 0.04%
2,790.82 0.04%
22.90
1,850,963.60
12.62
812,693.38
712,597.61
484,435.34
91, 809.17
4,238,829.37
6.16
0.72
21.41
7.53
0.34
0.00
496.34
0.00
21.21
34.21
214.76
12.99
815.67
Treasurers report June 2011
CITY OF LYNWOOD
QUARTERLY REPORT
30- Jun -11
Lynwood Public Financing Authority Oct -99 $10,235,000.00 773,412.40
Tax Allocation Bonds, Series 1999,Series A
U S Bank Corporate Trust Services
Lynwood Public Financing Authority Oct -99 $3,425,000.00 257,609.74
Tax Allocation Bonds, Series B
U S Bank Corporate Trust Services
Lynwood Public Financing Authority Oct -99 $3,760,000.00 0.00
Lease Revenue Bonds, Series 1999
US Bank Corporate Trust Services
Lynwood Utility Authority Nov -03 $6,930,000.00 19,096.22
Series 03 COI ACCOUNT
BNY Trust Company
Lynwood Utility Authority May -09 $9,755,000.00 6,255,637.67
Enterprise Refunding Revenue Bond, 2008 Series A
BNY Trust Company
Lynwood Untility Authority
PURCHASE
PAR
MARKET
TRUSTEE ACCOUNTS
DATE
VALUE
VALUE
BNY Trust Company
Lynwood Public Financing Authority
Oct -99
$1,31
107,956.80
Tax Allocation Bonds, Series 1999, Alameda
Aug -10
$9,000,000.00
5,833,341.92
U S Bank Coporate Trust Services
Mar -11
$18,480,000.00
17,891,869.18
Lynwood Public Financing Authority
Aug -03
$8,630,000.00
1,175,256.31
Lease Revenue Refunding Bonds 2003 A
US Bank Coporate Trust Services
Lynwood Public Financing Authority Oct -99 $10,235,000.00 773,412.40
Tax Allocation Bonds, Series 1999,Series A
U S Bank Corporate Trust Services
Lynwood Public Financing Authority Oct -99 $3,425,000.00 257,609.74
Tax Allocation Bonds, Series B
U S Bank Corporate Trust Services
Lynwood Public Financing Authority Oct -99 $3,760,000.00 0.00
Lease Revenue Bonds, Series 1999
US Bank Corporate Trust Services
Lynwood Utility Authority Nov -03 $6,930,000.00 19,096.22
Series 03 COI ACCOUNT
BNY Trust Company
Lynwood Utility Authority May -09 $9,755,000.00 6,255,637.67
Enterprise Refunding Revenue Bond, 2008 Series A
BNY Trust Company
Lynwood Untility Authority
Nov -08
$5,732,000.00
583,644.42
Enterprise Revenue Bond 2009 Series A
BNY Trust Company
Lynwood Public Finance Authority
Lease Revenue Bond, Civic Center Series 2010A
Aug -10
$9,000,000.00
5,833,341.92
Lynwood Redevelopment Agency
Mar -11
$18,480,000.00
17,891,869.18
Tax Allocation Bonds, Series 2011, Series A
Fiscal Agent Activities
FYE 6/30/11
Lynwood Redevelopment Agency
Mar -11
$5,660,000.00
557,638.64
Tax Allocation Bonds, Series 2011, Series B
Fiscal Agent Activities
Treasurers report June 2011
�..
t.
0
•�
�"
O
�
�
�
�
�
o
�
�,
�p� �
�
�"
�
F
�
�
s
O+'Z1�
>
�
O ►
�
�
�
ry
�
�
h
�
�
�
U
.r..,
�
v
C
�—
\\
!
-
}
I
°
[
_
- - -
PC
-
spunnous
®a
02�
l
-
�
ee
_
#
'
-
faue«
-
-
,
-
§{!!f §!
__
LJ
r!
|!
.! !
!|
} \ \ \\
\\ \(/
:
I
!!
�
02�
\r
=\
~
o•mC
f20 co
\ 0
IL
09L
_!
�
}
} \ \ \\
\\ \(/
k
i
§
)\ \
\) \�
!1
)�
~
k
_!
!
k
i
§
)\ \
\) \�
!1
)�
Ln
\\(
k \ }�
k!E§
\ \�
)k
VW
k))
f \#
;.!
!a!
~
k
Ln
\\(
k \ }�
k!E§
\ \�
)k
VW
k))
f \#
;.!
!a!
O
° m
O
p O
4
0
h
0
0
N
r
n
O
N
V
N
Q
n
N
n
0
W
`m
O
F
� a m
2 U n
J
o a �
I
� m g
a s
a
a
r
O
n
O
ao
H�
v
N
n°
�a
A
N
T�
t7
N M V Q
o'
of
11
yp
I
W
O
m
�
W O
N�
b
O I
O
P
� 0
N
O
O
O I
S
N O N b
0
W
Q
O
m
m
O
I'l
O O
N
C
Y
O
O
O
O
h
b
I
Ip
N
Q
Q
b Q P P
T
N
C
�
O
rn >�
mo
m
E
e
o
of
0000
o
C
o
Q
N
e
a
m
n
o
o
°° ° o °° °°
° o
• Q
C
9
r
b
b
O
O
O O O O
O
O
N _
°•-°%
r
a
'
3
{L
L O
ry ry
N
N
N N I N
3
O
n ry
° n
ry
o m n n
IL
o0
0
0
0000
a
J
WW
A
O
q
(V
e
W
n
r
b
QOl
o
O
0
ry
m
O
b
i
l'1 I
O I
LL
N
N
N
�
Q
Q
_OI
L LL
W
W
W
q
O
O
Z
0 1
2
a_ m
C
LL
C
a
D
m m m 9
V
I
W
W
(7 J
W
J
n
LL
W
LL LL LL LL
W
O
9
O
O
b
m
m
U
j
i
V
U
LL
T
T
Y
I
m
y
^
I
I Q
K
a
y e^ 2
0 0
a
vi°
C
ILL
O
i
G7
m
n n n C7
i i
I Q
f9
s
M
v
M M M n
° m
O
p O
4
0
h
0
0
N
r
n
O
N
V
N
Q
n
N
n
0
W
`m
O
F
� a m
2 U n
J
o a �
I
� m g
a s
a
a
r
O
n
O
ao
H�
v
N
n°
�a
A
N
I
N
m
W
a
T�
o w
S
F^
V
0
u
�^
e
p
.9 m
N
Y
C
d
E
cm c
m d
Ev
A m
O N N N
C � V)
G O
O O 0 C
aft
o 0 a0
3
C
J
Q m
r
L �
e
6
..
.1 V
. C
•
L
O
C
a
N
U
NN
n n
O
r
O
m
V
N
I
N
n'
w
d
C
Q N
e
O
O
n
r
m
N
0
U
C
m
a
w
0
Q
8
p
L
e
3
w
W
w
U
O
F
3a�
2 U
J
Z
o a
rc
a
a
a
N
O
N
N _
n
O
ar
w ,
°a Q
m
g m
w O
N c
� K
a
Z U
NO3 N N N N b
m O^
J b m
o
m m m m m
b
w m
U>
O F
6
0 U
m
N N O N
0 0
b O
1
~ Z
T�
N r m O r
r
b
O �
9
n n n e n
o m r r m
N N N N O
t� 10 a N 0
C
a
. 0 0 0 0 0
0 0
d
E
c
< <
C
t
Z
�
K<
Q Q Q Q<
z z
m O
c
`!
E
°
o
3g
N p�N
y
.°eA
3a2Zd2
z z
` C
>
wrc
c
x =oc
oc S
.o
m
$
O 7
06
m 1
r
m O
m
T�
3 v'
O O f O
U
T
N
N
J
�
d
r
o ° p
° o 0 0 0 0 m m
VI
p -
o i
m
O
�p
D) �
O m O N m r
0
p1
O N P
O m O N
m
m
o m N m m N
A
o
N
6
N
m
a
V d N O d N
W
T
b
�
O
N
N
N
N
n n n m m N
N N
N
p,
a
Y
p
r
z
m
m
m S m z z N
f9
9
W
m
LL LL LL LL LL V'
C
Ir
U o
#
y
UJ
c
°
N
m
Q
=
a C
p
d a
p
O O O O O O
p
O O
p
m o
>
>
� K