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Home My Public Portal AboutA1999-07-06 LPFA _ �- � � AGENDA ITEMS ON FILE FOR CONSIDERATION ��; � ' AT THE REGULAR MEETING OF �'-a-c:�,�/ THE LYNWOOD PUBLIC FINANCE AUTHORITY Ri p TO BE HELD ON JULY 6, 1999 CI7YCLERKS OF�ICE I 6:00 P.M. COUNCIL CHAMBERS JUl 0 � �ggg ��i1��5 6 RICARDO SANCHEZ PRESIDENT ��,� �j'� �- � C9 .e�L�✓ LOUIS BYRD ARMANDO REA VICE PRESIDENT MEMBER ARTURO REYES PAUL H. RICHARDS, II MEMBER MEMBER CHIEF ADMINISTRATIVE OFFICER FINANCE DIRECTOR RALPH W. DAVIS, III ALFRETTA EARNEST SECRETARY TREASURER ANDREA L. HOOPER IRIS PYGATT OPENINC CEREMONIES 1. CALL TO ORDER i 2. ROLL CALL OF COUNCIL MEMBERS I f Louis Byrd � i armando Rea ' Arturo Reyes � PaulRichards � Ricardo Sanchez ; 3. CERTIFICATION OF AGENDA POSTING BY SECRETARY � PUBLIC ORAL COMMUNICATIONS � (Regarding Agenda Items Only) i PUBLIC ORAL COMMUNICATIONS IF AN ITEM IS NOT ON THE AGENDA, THERE SHOULD BE NO SUBSTANTIVE ; DISCUSSION OF THE ISSUE BY THE LYNWOOD PUBLIC FINANCE AUTHORITY, j BUT IT IS ALL RIGHT FOR THE LYNWOOD PUBLIC FINANCE AUTHORITY MEMBERS TO REFER THE MATTER TO THE STAFF OR SCHEDULE � SUBSTANTIVE DISCUSSION FOR A FUTURE MEETING. (The Ralph M. Brown Act, Government Code Section 54950-54962, Part ! III, Paragraph 5.) � 4. MINUTES OF PREVIOUS MEETING: Regular Meeting, June 15, 1999 i � ; - • i 5. TREASURER'S QUARTERLY INVESTMENT REPORT Comments: The purpose of this item is to have the Lynwood Public Finance Authority review the Treasurer�s Investment Report as required by recently enacted State Statutes. Recommendation: i � The Treasurer respectfully recommends that the Lynwood Public Finance Authority receive and file the attached Quarterly InvestmentlReport for the quarter ending March, 1999. , __ I ADJOURNMENT I MOTION TO ADJOURN TO THE REGULARLY SCHEDULED MEETING ON JULY 20, '1999 AT 6:00 P.M., IN THE COUNCIL CHAMBERS OF THE CITY HALL, 11330 BULLIS ROAD, CITY OF CALIFORNIA. i ! � � I I i I I � � � I 1 I ; I � I � 2 i , � 4 � • � • , ,. � ' LYNWOOD PUBLIC FINANCEIAUTHORITY, JUNE 15 1999 The Lynwood Public Finance Aut lority of the City of Lynwood met in Regular Session on the above date at 7:06 p.m. � President Sanchez presiding. ! Member Byrd, Rea, Reyes, Richazds, Sanchez answered roll call. � Also present were Chief Administrative Officer Davis, City Attomey Thever, Secretary ' Hooper and Treasurer Pygatt. ! Secretary Hooper announced the Agenda had been duly posted in accordance with The ; Brown Act. _ __ � PUBLIC ORAL COMMUNIC�ATIONS I None I ITEMS FOR CONSIDERATION It was moved by Member Byrd, seconded by Member Richards and canied to approve the following minutes: a) Regulaz Meeting, June 1, 1999 Having no further discussion, it was moved by Member Byrd , seconded by Member Richards and carried to adjourn. PRESIDENT RICARDO SANGHEZ I SECRETARY ANDREA L. HOOPER i I � ; � � � A(}ENI�A ITEIVI I - ; � • � i � i ' DATE: JUIy 6, 1999 ; T0: Honorable President and Members of the Authority i FROM: R21ph W. D2VI5 ni, interim City nnanager ! � BY: Iris Pygatt, CityTreasurer i i' SUBJECT: TREASURER'S QUARTERLY INVESTMENT REPORT , � — � PURPOSE: I I The purpose of this itern is to have the Lynwood Public Finance Authority review the Treasurer�s Quarterly Investment Report as required by recently enacted state statutes. BACKGROUND: In response to the crisis �caused by the Orange County investment pool, the State Legislature in �995 enacted SB564 and SB866. These laws were enacted as St�ate Statutes to impose certain mandates regarding investment with public funds. The statutes have imposed the following mandates: �. Annual adoption of an InveStment Policy that incorporates changes mandated by;the State. i 2. Quarterly Investment Reports presented to the Legislative Body or Board Members. � i 3. Restrictions on the use of certain investment instruments. The attached Treasurer�s Reports has been prepared to provide the City Council Members with the following information: 1. Types of investments cincluding principal, market value, rates, and maturity date). 2. List of various bank accounts with banking institutions.. 3. Statement informing each Agency (City, LRA, LPFA, and LII) that is ' expected to have sufficient liquid funds to meet its pooled ; expenditure requirements for the next six (6) months. ! 4. Statement informing the Council that the investment portfolio � conforms with the adopted investment policy. ; RECOMMENDATION: The Treasurer respectfully recommends that the Lynwood Public Finance Authority receive and file the attached Quarterly Investment Report for the quarter ending March, �999. ; , A(3ENllA ITEIvI � ----_� i � TREASURER'S QUARTERLY . _ . _ INVESTMENT REPORT � MARCH 31,1999 - , �. _. -- — — ....��.��.1.. ...v�A..rvrnvwc - — CITY OF LYNWOOD PORTFOLIO MASTER SUMMARY MARCH 31, 1999 AVERAGE — YTM — BOOK PERCENTAGE (•h) DAYS TO 780 385 • IMIESTAAENT8 VALUE PORTFOLIO MATURITY EDUIVALENT MIWAGED POOL INVESTMENT 15.848,862 88 92 72 1 5 46 5 46 Tteanury Sewrities - Discount 1.252.381 10 7.28 9 4 45 4 45 TOTAL INVESTMENTS ANO AVERAGES 17,iB9,223 7B 100.00°/, CASH - - - ----_ _ __ _ — - ___ _ --- Pes�book/Checking - No Yieltl Totele - - ' - - (na nduded in yield calculations) - TOTAL INVESTMENTS ��gg�22� �g • I certify that this report accuratey reBects all pooled investrnent policy slatements edopted by the City Coundl on August 15. 1995 A copy of this policy is �vailable at the office of the Ciry Clerk The IRIS PYGATT Investrnent Program herein shown provides suffiaent cash flow liquidy to meet 3 months esGmated expendituree. CITY TREqSURER The pridng of the securities are done by Union Bank ol Celifomia end Inleractive Data Services MARCH 31. 1999 -- - --- -_ ___--. - mn�s _ . -. - -- - -- -- - -- - - - -- - �Y mrU�G9 I i � , • . . i i � I , � . ' , � � i � I I , i =- � I � I + � � � ; , � I ' I i � I I � � ` I � i f � I , � i , I I ' • � i j i ' I I I � ' � ' i � � i i ; i ; � , , � j I i � I � 1 � � i � � I , � ' i � 1 � 1 � I , � � � � i i r � i � 1 I � I � I � ' 1 CITY OF LYNWOOD INVESTMENT PORTFOLIO DETAILS - INVESTMENTS MARCH 31,1999 INVESTMENT BOOK FACE MARKET STATED — YTM — MATURITY DAYS ISSUER VALUE VALUE VALUE RATE �b0 �86 DATE TO MAT. • MANAGE POOLINVESTMENTS . LAIF GEN'L CITY 9,373.595.87 9,373.595.81 9,373,595.81 5 46 5.48 5.48 LAIF LRA 1.322.796.78 1,322.798.78 1.322.796.76 5 48 5.46 5.48 1 LAIF BOND PROCEEDS 5,225,284.14 5,225,294.14 5,225,294.14 5 46 5.48 5.48 1 __ U_S. HIGHMARK 25,176.17 � 25.178.17 25.178.17 4.38 4.38 4.38 � __ _ _ _ _ TOTAL 76.948,862.68 16,946.882.88 76,946,862.88 - - - - - -- - TFiEASURY SECURITY BANK OF CAIIFORNIA U.S. TREASURY BIIL 510,000.00 489.784.22 509,036.10 3.97 3.97 3.97 4/15199 � U.S. TREASURY BILL 750,000.00 733,785.42 743.595.00 4.45 4.45 4.45 6I70/99 ----- . ----------- TOTAL - - I; 1.252.631.10 - - - - - - - - - ' BILLS ARE pURCHASED AT A DISCOUNT AND MATURE AT FULL PACE VALUE ' .' _ _ liil �nd T-Dis OeWh nur99 CITY OF LYNWOOD RECEIVED INTEREST PAYMENT BY ISSUER RECEIVED MARCH 31, 1999 � CURRENT STATED DATE AMOUNT INVESTMENT ISSUER BALANCE RATE REC'0 REC'D LAIF-CIIY 9,373,595.81 5.4B 10115/98 96,244.28 LAIF-LRA - ' 1.322,798J8-- ----5.48�-----10115/98---------13,7-79.48_ LAIF-BOND PROCEEDS 5,225,284.74 5.48 10/15/98 70,785.88 U.S. HIGHMARK 25,178.77 4.38 10/31/98 388.75 TOTAL 15,946,882.88 181,178.35 � _ _ . - - - - . _ - - - �� ` _ __ - _- - Laif-int march99 CITY OF LYNWOOD I _ INVESTMENT PORFOLIO DETAILS � MARCH 31, 1999 � SECURITY PAR SETTLEMENT MARKET SETTLEMENT MATURITY INTEREST ----YTM----- DESCRIPTION VALUE PRINCIPAL VALUE DATE DATE RATE 350 365 U.S. TREASURY 510,000.00 499,764.22 509,036.10 10/15/98 4/15/99 3.97 3.97 3.97 BILL U.S. TRESURY 750,000.00 733,785.42 743,595.00 12/10/98 6/10/99 4.45 4.45 4.45 BILL TOTAL 1,252,631.10 � ' BILLS ARE PURCHASED AT A DISCOUNT AND MATURE AT FULL FACE VALUE - - _ _ ... : �•� _ . �. CITY OF LYNWOOD RECEIVED INTEREST PAYMENT BY ISSUER RECEIVED MARCH 31 , 1999 ,I ._ ,,� FACE AVERAGE MATURITY STATED INVESTMENTS VALUE BOOK VALUE DATE RATE INTERE3T PASSBOOKS/CHECKING CITY - PACIFIC CENTURY BANK 51,093.14 51,093.14 2.5 281.18 � CI7Y - PACIFIC CENTURY BANK 72,582.19 . 72,582.79 2.5 473.41 HCDA CITY - PACIFIC CENTURY BANK 45,179.07 45,179.07 2.5 227.79 LYNWOOD TTEES. HUD LRA - PACIFIC BANK 54,433.15 54,433.15 2.5 278.25 , ALAMEDA TAX INC. LRA - PACIFIC CENTURY BANK 2,253.97 2,253.87 2.5 11.52 LYN. TR. CENTER UNF. WORKERS ACC. � LRA - BANK OF AMERICA 132,764.00 132,764.00 1.3 490.51 LII - PACIFIC CENTURY BANK 34,951.46 34,951.48 2.5 178.67 TOTAL �9�,2J6.88 397,2�6.a8