HomeMy Public PortalAbout08 August 25, 2014 Budget & implementationRIVERSIDE COUNTY TRANSPORTATION COMMISSION
BUDGET AND IMPLEMENTATION COMMITTEE
MEETING AGENDA
TIME: 9:30 a.m.
DATE: Monday, August 25, 2014
LOCATION: BOARD ROOM
County of Riverside Administrative Center
4080 Lemon Street, First Floor, Riverside
COMMITTEE MEMBERS
Douglas Hanson, Chair / Patrick Mullany, City of Indian Wells
Roger Berg, Vice Chair / David Castaldo, City of Beaumont
Ella Zanowic / Jeff Hewitt, City of Calimesa
Mary Craton / Randy Bonner, City of Canyon Lake
Greg Pettis / Kathleen DeRosa, City of Cathedral City
Steven Hernandez / Eduardo Garcia, City of Coachella
Scott Matas / Russell Betts, City of Desert Hot Springs
Larry Smith / Robert Youssef, City of Hemet
Bob Magee / Natasha Johnson, City of Lake Elsinore
Rick Gibbs / Kelly Bennett, City of Murrieta
Steve Adams / Andy Melendrez, City of Riverside
Ron Roberts / Jeff Comerchero, City of Temecula
John F. Tavaglione, County of Riverside, District II
Jeff Stone, County of Riverside, District III
STAFF
Anne Mayer, Executive Director
Theresia Trevino, Chief Financial Officer
AREAS OF RESPONSIBILITY
Annual Budget Development and Oversight
Competitive Federal and State Grant Programs
Countywide Communications and Outreach Programs
Countywide Strategic Plan
Legislation
Public Communications and Outreach Programs
Short Range Transit Plans
Comments are welcomed by the Committee. If you wish to provide comments to the Committee, please
complete and submit a Speaker Card to the Clerk of the Board.
COMM-BI-00021
Riverside County Transportation Commission
TO:
FROM:
DATE:
SUBJECT:
Riverside County Transportation Commission
Jennifer Harmon, Office and Board Services Manager
August 20, 2014
Possible Conflicts of Interest Issues -Budget and Implementation Committee
Agenda of August 25, 2014
The August 25, 2014 agenda of the Budget and Implementation Committee includes items which
may raise possible conflicts of interest. A RCTC member may not participate in any discussion or
action concerning a contract or amendment if a campaign contribution of more than $250 is
received in the past 12 months or 3 months following the conclusion from any entity or individual
listed.
Agenda Item No. 10 -Substitution of Letter of Credit for Commercial Paper Program
Consultant(s): State Street Bank and Trust Company
1 Lincoln Street
Boston, MA 02111
Timothy Bat/er, Senior Vice President
Agenda Item No. 12 -Agreements for On-Call Coordination Public Outreach Services
Consu/tant(s): Arellano Associates
5851 Pine Avenue, Suite A
Chino Hills, CA 91709
Genoveva Arellano, Principal
Moore lacofano Goltsman, Inc.
1500 Iowa Avenue, Suite 110
Riverside, CA 92507
Esmeralda Garcia, Director of Operations/Senior Project Manager
Simon Wong Engineering
3880 Lemon Street, 3'd Floor
Riverside, Ca 92501
Marc Mcintyre, Vice President
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
BUDGET AND IMPLEMENTATION COMMITTEE
www.rctc.org
AGENDA*
*Actions may be taken on any item listed on the agenda
9:30 a.m.
Monday, August 25, 2014
BOARD ROOM
County Administrative Center
4080 Lemon Street, First Floor
Riverside, California
In compliance with the Brown Act and Government Code Section 54957.5, agenda materials distributed
72 hours prior to the meeting, which are public records relating to open session agenda items, will be
available for inspection by members of the public prior to the meeting at the Commission office,
4080 Lemon Street, Third Floor, Riverside, CA, and on the Commission’s website, www.rctc.org.
In compliance with the Americans with Disabilities Act and Government Code Section 54954.2, if you need
special assistance to participate in a Committee meeting, please contact the Clerk of the Board at
(951) 787-7141. Notification of at least 48 hours prior to meeting time will assist staff in assuring that
reasonable arrangements can be made to provide accessibility at the meeting.
1. CALL TO ORDER
2. PLEDGE OF ALLEGIANCE
3. ROLL CALL
4. PUBLIC COMMENTS – Each individual speaker is limited to speak three (3) continuous
minutes or less. The Committee may, either at the direction of the Chair or by majority
vote of the Committee, waive this three minute time limitation. Depending on the number
of items on the Agenda and the number of speakers, the Chair may, at his/her discretion,
reduce the time of each speaker to two (2) continuous minutes. Also, the Committee may
terminate public comments if such comments become repetitious. In addition, the
maximum time for public comment for any individual item or topic is thirty (30) minutes.
Speakers may not yield their time to others without the consent of the Chair. Any written
documents to be distributed or presented to the Committee shall be submitted to the Clerk
of the Board. This policy applies to Public Comments and comments on Agenda Items.
Under the Brown Act, the Board should not take action on or discuss matters raised during
public comment portion of the agenda which are not listed on the agenda. Board members
may refer such matters to staff for factual information or to be placed on the subsequent
agenda for consideration.
Budget and Implementation Committee
August 25, 2014
Page 2
5. APPROVAL OF MINUTES – JUNE 23, 2014
6. ADDITIONS/REVISIONS (The Committee may add an item to the Agenda after making a
finding that there is a need to take immediate action on the item and that the item came
to the attention of the Committee subsequent to the posting of the agenda. An action
adding an item to the agenda requires 2/3 vote of the Committee. If there are less than
2/3 of the Committee members present, adding an item to the agenda requires a
unanimous vote. Added items will be placed for discussion at the end of the agenda.)
7. CONSENT CALENDAR - All matters on the Consent Calendar will be approved in a single
motion unless a Commissioner(s) requests separate action on specific item(s). Items pulled
from the Consent Calendar will be placed for discussion at the end of the agenda.
7A. QUARTERLY FINANCIAL STATEMENTS
Page 1
Overview
This item is for the Committee to:
1) Receive and file the Quarterly Financial Statements for the year ended June
30, 2014; and
2) Forward to the Commission for final action.
7B. SINGLE SIGNATURE AUTHORITY REPORT
Page 9
Overview
This item is for the Committee to:
1) Receive and file the Single Signature Authority report for the fourth quarter
ended June 30, 2014; and
2) Forward to the Commission for final action.
7C. QUARTERLY SALES TAX ANALYSIS
Page 11
Overview
This item is for the Committee to:
1) Receive and file the sales tax analysis for Quarter 1 2014 (Q1 2014); and
2) Forward to the Commission for final action.
Budget and Implementation Committee
August 25, 2014
Page 3
7D. QUARTERLY INVESTMENT REPORT
Page 20
Overview
This item is for the Committee to:
1) Receive and file the Quarterly Investment Report for the quarter ended
June 30, 2014; and
2) Forward to the Commission for final action.
7E. ANNUAL INVESTMENT POLICY REVIEW
Page 59
Overview
This item is for the Committee to:
1) Adopt Resolution No. 14-015, “Resolution of the Riverside County
Transportation Commission Regarding the Revised Investment Policy”;
2) Adopt the Annual Investment Policy; and
3) Forward to the Commission for final action.
8. CALPERS DELEGATION OF AUTHORITY TO REQUEST DISBURSEMENTS
Page 74
Overview
This item is for the Committee to:
1) Designate the Chief Financial Officer, Deputy Executive Director, and Finance
Manager/Controller to request disbursements from the CalPERS pre-funding plan;
2) Authorize the Chair to execute the Delegation of Authority to Request
Disbursements; and
3) Forward to the Commission for final action.
Budget and Implementation Committee
August 25, 2014
Page 4
9. SUBSTITUTION OF STANDBY BOND PURCHASE AGREEMENTS FOR 2009 SALES TAX
REVENUE BONDS
Page 76
Overview
This item is for the Committee to:
1) Adopt Resolution No. 14-026, “Resolution of the Riverside County Transportation
Commission Authorizing the Execution and Distribution of an Offering Memorandum
Relating to the Outstanding Sales Tax Revenue Bonds, Ratifying Prior Authorizations
of the Execution and Delivery of One or More Standby Agreements and One or More
Remarketing Agreements, and Authorizing the Taking of All Other Actions Necessary
in Connection Therewith”;
2) Ratify the replacement of the standby bond purchase agreements (SBPAs) and
accompanying fee letters (collectively referred to as Liquidity Facilities) for the 2009
Sales Tax Revenue Bonds Series A, Series B, and Series C (2009 Bonds) with The
Bank of Tokyo-Mitsubishi UFJ, Ltd. (BTMU) in place of the Liquidity Facilities
currently provided by JPMorgan Chase Bank, N.A. (JPMorgan);
3) Ratify the amended and restated remarketing agreements with Barclays Capital Inc.
(Barclays) and Stifel, Nicolaus & Company (Stifel), as remarketing agents;
4) Approve the draft remarketing memorandum related to the new Liquidity Facilities
for the 2009 Bonds and authorize the Executive Director and/or other authorized
representative to approve distribution of the remarketing memorandum by
Barclays and Stifel;
5) Approve the estimated costs of $250,000 to be incurred in connection with the
replacement of the Liquidity Facilities to be paid from 2009 Measure A Western
County Bond Financing Program funds; and
6) Forward to the Commission for final action.
Budget and Implementation Committee
August 25, 2014
Page 5
10. SUBSTITUTION OF LETTER OF CREDIT FOR COMMERCIAL PAPER PROGRAM
Page 80
Overview
This item is for the Committee to:
1) Approve Agreement No. 14-19-150-00 to State Street Bank and Trust Company
(State Street Bank) for letter of credit (LOC) in the stated amount of $60.75 million
related to the 2005 Commercial Paper Program for a period of three years, in an
amount not to exceed $600,000;
2) Adopt Resolution No. 14-027, “Resolution of the Riverside County Transportation
Commission Ratifying and Confirming Prior Authorization Relating to Its Commercial
Paper Notes, Including the Execution and Delivery of a Substitute Credit Agreement
and Related Documents, and a Supplement to Offering Memorandum and the
Taking of All Other Actions Necessary in Connection Therewith”;
3) Ratify the draft reimbursement agreement and accompanying fee letter for the
provision of a letter of credit (collectively referred to as Liquidity Facility) by and
between the Commission and State Street Bank relating to the Commission’s
Commercial Paper Notes, Series A and authorization for the Executive Director
and/or other authorized representative to approve and execute the final
reimbursement agreement;
4) Approve the draft supplemental offering memorandum related to the new Liquidity
Facility for the Commercial Paper Notes, Series A and authorize the Executive
Director and/or other authorized representative to approve distribution of the
supplement to the offering memorandum by Barclays Capital Inc. (Barclays), as
commercial paper dealer;
5) Approve the estimated costs of $200,000 related to the replacement of the
Liquidity Facility to be paid from 2009 Measure A Western County Bond Financing
Program funds; and
6) Forward to the Commission for final action.
Budget and Implementation Committee
August 25, 2014
Page 6
11. ACTIVE TRANSPORTATION PROGRAM – RECOMMENDED STATEWIDE COMPETITIVE
PROGRAM OF PROJECTS AND PROPOSED PROJECTS FOR THE METROPOLITAN PLANNING
ORGANIZATION ACTIVE TRANSPORTATION PROGRAM REGIONAL PROGRAM CYCLE 1,
FISCAL YEARS 2014/15 AND 2015/16
Page 85
Overview
This item is for the Committee to:
1) Approve the staff recommendation for the Riverside County Active Transportation
Program (ATP) projects for inclusion in the Metropolitan Planning Organization
(MPO) ATP Regional Program Cycle 1 consisting of the top seven highest scoring
projects identified in Table 2;
2) Submit the seven projects to the Southern California Association of Governments
(SCAG) for inclusion in the MPO ATP Regional Program and direct staff to work with
SCAG and the Commission’s Technical Advisory Committee (TAC) on adjusting the
amount of the approved projects, if necessary, in order to be constrained within
Riverside County’s MPO ATP target for FY 2014/15 and FY 2015/16;
3) Allow staff to assign the appropriate fund source to each MPO ATP regional project
in Riverside County for Federal Transportation Improvement Program (FTIP)
programming and fund allocation purposes; and
4) Forward to the Commission for final action.
12. AGREEMENTS FOR ON-CALL COORDINATION PUBLIC OUTREACH SERVICES
Page 90
Overview
This item is for the Committee to:
1) Award the following agreements to provide on-call coordination public outreach
services for a three-year term and two one-year options to extend the agreement in
an amount not to exceed an aggregate value of $500,000;
a) Agreement No. 14-31-118-00 with Arellano Associates;
b) Agreement No. 14-31-119-00 with Moore lacofano Goltsman, Inc. (MIG);
and
c) Agreement No. 14-31-120-00 with Simon Wong Engineering, Inc.;
2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to
execute the agreements, including option years, on behalf of the Commission;
3) Authorize the Executive Director, or designee, to execute task orders awarded to
contractors under the terms of the agreements; and
4) Forward to the Commission for final action.
Budget and Implementation Committee
August 25, 2014
Page 7
13. RIVERSIDE TRANSIT AGENCY’S FISCAL YEAR 2014/15 SHORT RANGE TRANSIT PLAN
AMENDMENT
Page 113
Overview
This item is for the Committee to:
1) Approve modification to Riverside Transit Agency’s (RTA) FY 2014/15 capital
improvement program to reflect additional funding of $4,125,000 in Congestion
Mitigation and Air Quality (CMAQ) and $911,880 in FY 2012/13 Proposition 1B
California Transit Security Grant Program (CTSGP) funds;
2) Allocate $998,101 in additional State Transit Assistance (STA) funds to provide
capital matching funds for the CMAQ funds awarded to RTA for its Intelligent
Information System (ITS) project;
3) Reallocate $1,163,866 of Local Transportation Fund (LTF) funds from the ITS project
to the Expansion Heavy Duty Revenue Vehicles project;
4) Approve RTA’s FY 2014/15 Short Range Transit Plan (SRTP) Amendment No. 1 to
reflect the changes above, subject to approval by RTA’s board of directors; and
5) Forward to the Commission for final action.
14. CITIZENS’ ADVISORY COMMITTEE/SOCIAL SERVICES TRANSPORTATION ADVISORY
COMMITTEE MEMBERSHIP NOMINATIONS
Page 117
Overview
This item is for the Committee to:
1) Nominate 10 appointments to the Citizens’ Advisory Committee/Social Services
Transportation Advisory Committee (CAC/SSTAC) effective September 1, 2014; and
2) Forward to the Commission for final action.
Budget and Implementation Committee
August 25, 2014
Page 8
15. CLAY STREET GRADE SEPARATION
Page 120
Overview
This item is for the Committee to:
1) Deobligate $2,432,000 in 2009 Measure A Western County Economic Development
Funds previously allocated to the County of Riverside (County) for the Interstate
215/Van Buren Interchange project;
2) Reprogram $2,432,000 in 2009 Measure A Western County Economic Development
Funds to the County for the Clay Street grade separation project;
3) Approve Agreement No. 08-31-124-00, Amendment No. 1 to Agreement
No. 08-31-124-00, with the County for the I-215/Van Buren Interchange project and
the Clay Street grade separation project;
4) Deobligate $1,722,000 in Congestion Mitigation Air Quality (CMAQ) funds allocated
to the city of Banning (Banning) for the Sunset Avenue grade separation project;
5) Allocate $1,722,000 in CMAQ funding to the County in support of the Clay Street
grade separation project;
6) Approve an increase of $2,432,000 in FY 2014/15 budgeted 2009 Measure A
Western County Economic Development expenditures; and
7) Forward to the Commission for final action.
16. STATE AND FEDERAL LEGISLATIVE UPDATE
Page 122
Overview
This item is for the Committee to:
1) Receive and file an update on the State and Federal Legislation; and
2) Forward to the Commission for final action.
17. COMMISSIONERS / STAFF REPORT
Overview
This item provides the opportunity for the Commissioners and staff to report on attended
and upcoming meeting/conferences and issues related to Commission activities.
18. ADJOURNMENT AND THE NEXT MEETING
The next Budget and Implementation Committee meeting is scheduled to be held at
9:30 a.m., Monday, September 22, 2014, Board Chambers, First Floor, County
Administrative Center, 4080 Lemon Street, Riverside.
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
BUDGET AND IMPLEMENTATION COMMITTEE
ROLL CALL
AUGUST 25, 2014
County of Riverside, District II
County of Riverside, District Ill
City of Beaumont
City of Calimesa
City of Canyon Lake
City of Cathed ra I City
City of Coachella
City of Desert Hot Springs
City of Hemet
City of Indian Wells
City of Lake Elsinore
City of Murrieta
City of Riverside
City of Temecula
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RIVERSIDE COUNTY TRANSPORTATION COMMISSION
BUDGET AND IMPLEMENTATION COMMITTEE SIGN-IN SHEET
AUGUST 25, 2014
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RIVERSIDE COUNTY TRANSPORTATION COMMISSION
BUDGET AND IMPLEMENTATION COMMITTEE
Monday, June 23, 2014
MINUTES
1. CALL TO ORDER
The meeting of the Budget and Implementation Committee was called to order by
Chair Douglas Hanson at 9:32 a.m., in the Board Room at the County of Riverside
Administrative Center, 4080 Lemon Street, First Floor, Riverside, California, 92501.
2. PLEDGE OF ALLEGIANCE
At this time, Commissioner Ella Zanowic led the Budget and Implementation Committee
in a flag salute.
3. ROLL CALL
Members/Alternates Present Members Absent
Roger Berg Steve Adams
Mary Craton Rick Gibbs
Douglas Hanson Greg Pettis
Steven Hernandez
Bob Magee
Scott Matas
Ron Roberts
Larry Smith
Jeff Stone
John Tavaglione
Ella Zanowic
4. PUBLIC COMMENTS
There were no requests to speak from the public.
RCTC Budget and Implementation Committee Minutes
June 23, 2014
Page 2
5. APPROVAL OF MINUTES – APRIL 28, 2014
M/S/C (Zanowic/Roberts) to approve the minutes of April 28, 2014 meeting as
submitted.
Abstain: Berg and Craton
6. ADDITIONS / REVISIONS
There were no additions or revisions to the agenda.
7. STANDBY BOND PURCHASE AGREEMENTS RELATED TO 2009 SALES TAX REVENUE
BONDS SERIES A, SERIES B, AND SERIES C
Michele Cisneros, Finance Manager/Controller, presented the standby bond purchase
agreements related to 2009 Sales Tax Revenue Bonds Series A, B, and C.
Commissioner Jeff Stone stepped out of the meeting during the presentation.
M/S/C (Zanowic/Craton) to:
1) Award Agreement No. 14-19-151-00 to The Bank of Tokyo-Mitsubishi
UFJ, Ltd. (BTMU) for Standby Bond Purchase Agreements (SBPAs)
related to the 2009 Sales Tax Revenue Bonds Series A, Series B, and
Series C (2009 Bonds) for a period of four years, in an amount not to
exceed $2.35 million;
2) Authorize the Executive Director, pursuant to legal counsel review, to
execute the agreement on behalf of the Commission; and
3) Forward to the Commission for final action.
8. FISCAL YEARS 2015-19 MEASURE A FIVE-YEAR CAPITAL IMPROVEMENT PLANS FOR
LOCAL STREETS AND ROADS
Eric DeHate, Staff Analyst, presented the FYs 2015-19 Measure A Five-Year Capital
Improvement Plans (CIP) for local streets and roads.
At this time, Commissioner Stone rejoined the meeting.
Commissioner Roger Berg expressed strong concern for the exemptions in the various
cities. He explained as a member of the Western Riverside County Regional
Conservation Authority (RCA), he requested information regarding these exemptions at
the May 2014 RCA meeting, which he has not received.
RCTC Budget and Implementation Committee Minutes
June 23, 2014
Page 3
Anne Mayer, Executive Director, clarified the Commission does not do any independent
verification or auditing of participation in those programs. She explained staff depends
on the Western Riverside Council of Governments (WRCOG), the Coachella Valley
Association of Governments, and RCA to provide written verification to staff as to
participation on an annual basis.
Commissioner Berg explained his independent evaluation showed there is
approximately $1 million from RCA and expressed concern for having a funding shortfall
to purchase property. He also expressed if the Commission is not in compliance, it could
impact the Commission’s projects and asked why these exemptions exist.
Commissioner Bob Magee explained the city of Lake Elsinore (Lake Elsinore) has a
number of development agreements that predate the existence of the Multi-Species
Habitat Conservation Plan (MSHCP) and RCA, which were approved and exempt.
Commissioner Magee stated Lake Elsinore staff is working to collect the requested
information for Commissioner Berg.
Commissioner Stone concurred with Commissioner Magee’s comments as most of these
plans were executed development agreements prior to the adoption of the MSHCP and
the Riverside County Integrated Plan. He expressed concern for discussing this matter
at the Budget and Implementation Committee meeting as it is not the appropriate
forum. He stated WRCOG tried to get information from the city of Beaumont
(Beaumont) for eight years on Beaumont’s exemption for Transportation Uniform
Mitigation Fee (TUMF), which resulted in a $53 million judgment in favor of WRCOG. He
then stated the city of Temecula can provide Commissioner Berg with those agreements
approved by WRCOG’s attorneys to be valid and enforceable and are exempt from
TUMF.
Commissioner John Tavaglione concurred with Commissioner Stone’s comment
regarding an inappropriate forum. He stated RCA is collecting the information
Commissioner Berg requested.
Commissioner Berg expressed concern regarding funding shortfalls for the Commission’s
projects and RCA’s purchase of property. He expressed the Commission needs to review
this issue from a global position. He then disagreed with Commissioner Stone’s
comments as he does not wish to debate the lawsuit. He suggested not moving forward
at this time until the information is provided as the Commission is the agency
authorized by the state to oversee this program.
M/S/C (Henderson/Stone) to:
1) Approve the FYs 2015-19 Measure A Five-Year Capital Improvement
Plans (CIPs) for Local Streets and Roads (LSR) as submitted; and
2) Forward to the Commission for final action.
RCTC Budget and Implementation Committee Minutes
June 23, 2014
Page 4
No: Berg
9. RIVERSIDE COUNTY TRANSIT SERVICES FUNDING ALLOCATION FOR FISCAL YEAR
2014/15
Fina Clemente, Transit Manager, presented the FY 2014/15 funding allocation for
Riverside County transit services, highlighting the following areas:
• Short Range Transit Plans for FY 2014/15 – FY 2016/17;
• Riverside County FY 2014/15 transit funding request;
• FY 2013/14 and FY 2014/15 operating and capital costs; and
• FY 2014/15 transit financial plan by revenue source.
In response to Commissioner Steven Hernandez’s question about the Transportation
Development Act (TDA) set aside funds for Coachella Valley, Fina Clemente replied
those TDA funds includes State Transit Assistance (STA) and Local Transportation Fund
(LTF) funds. Proposition 1B funds are separate from TDA funds.
Robert Yates, Multimodal Services Director, replied the Proposition 1B funds are not
sufficient to cover the entire rail study. There is sufficient funding for Phase 1, which is
the basic alternatives analysis and does not include environmental work. He explained
Proposition 1B funds cannot be used for environmental studies so the TDA set aside
funds will be applied towards that work should the project proceed from Phase 1 to
Phase 2.
In response to Commissioner Hernandez’s question regarding the funds in the event the
project does not proceed, Robert Yates replied it would be a discussion staff would need
to have with the region.
Commissioner Berg stated in looking at the maps and the service areas, it will take time
for rail service to start and suggested working to regionalize the bus service along the
Interstate 10 as an interim measure.
Anne Mayer replied Riverside Transit Agency (RTA) and SunLine have a route that
bridges Coachella Valley to Riverside with stops in the San Gorgonio Pass. She explained
ridership is not very high and part of this rail study will analyze alternatives to rail along
the I-10 corridor. She concurred with Commissioner Berg’s comments about an
integrated transit service that is effective and cost efficient.
Commissioner Berg expressed appreciation for Anne Mayer’s comments and suggested
working together to figure out the funding and possibly look into smog credits.
RCTC Budget and Implementation Committee Minutes
June 23, 2014
Page 5
Anne Mayer replied this information will be passed on to RTA and SunLine as both of
these agencies are looking at future service plans.
M/S/C (Stone/Craton) to:
1) Conduct a public hearing at the July Commission meeting on the
proposed Section 5307 Program of Projects (POP);
2) Approve the FY 2014/15 Federal Transit Administration’s (FTA) Section
5307 and 5311 POP for Riverside County;
3) Approve the FY 2014/15 Local Transportation Fund (LTF) and State
Transit Assistance (STA) fund allocations for transit;
4) Direct staff to add projects into the Federal Transportation
Improvement Program (FTIP);
5) Adopt Resolution No. 14-023, “Resolution of the Riverside County
Transportation Commission to Allocate State Transit Assistance Funds”;
and
6) Forward to the Commission for final action.
10. POLICY REVISION TO THE PRODUCTIVITY IMPROVEMENT PROGRAM
Robert Yates provided an overview of the policy revisions to the Productivity
Improvement Program (PIP).
Anne Mayer expressed appreciation for RTA and SunLine in working with staff on
improving the performance measure process. She explained this is a difficult task to
accomplish, however, staff came up with metrics that will have valid meaning for the
transit agencies, allow the Commissioners to evaluate performance measures, and the
status of transit in the County. She referred to Table 6 of the attached report for the
Riverside County Public Transportation Summary of FY 2012/13 Countywide
Performance for the farebox recovery ratio and the transit trips per capita as there are
very simple performance measures that can be reviewed on an annual basis.
Chair Hanson expressed appreciation for Anne Mayer’s comments and requested
clarification that the transit agencies will continue to be monitored on an individual
basis.
Robert Yates replied that is correct and staff is continuing to require the operators to
use the Transtrak program in order for Commission staff to collect the data.
Anne Mayer replied staff will be able to measure performance by operator as well as
countywide.
RCTC Budget and Implementation Committee Minutes
June 23, 2014
Page 6
M/S/C (Stone/Zanowic) to:
1) Approve the change in the Productivity Improvement Program (PIP) to
eliminate Commission reporting of the existing mandatory and
discretionary PIP targets;
2) Require operators to continue to report performance to the
Commission individually via the Commission’s Transtrak online
software;
3) Approve the implementation of the annual State of Transit Report in
order to report on countywide transit performance; and
4) Forward to the Commission for final action.
11. AGREEMENT WITH MEDIA BEEF, INC. FOR THE PROVISION OF PROGRAMMING AND
WEBSITE ADMINISTRATION SERVICES FOR THE COMMUTER ASSISTANCE PROGRAM
Robert Yates presented the scope of services for the agreement with Media Beef, Inc.
for the provision of programming and website administration services for the Commuter
Assistance Program.
M/S/C (Berg/Craton) to:
1) Award Agreement No. 14-41-156-00 to Media Beef, Inc. (Media Beef)
for programming and website administration services related to the
Commuter Assistance Program (CAP) for a three-year term, and two
one-year options to extend the agreement, in the amount of $938,600;
2) Authorize the Chair or Executive Director, pursuant to legal counsel
review, to execute the agreement on behalf of the Commission; and
3) Forward to the Commission for final action.
12. STATE AND FEDERAL LEGISLATIVE UPDATE
Aaron Hake, Government Relations Manager, presented an update on state and federal
legislative activities, highlighting the following:
• State Budget – Transportation;
• Cap and Trade FY 2014/15 budget and ongoing expenditures;
• SB 1228 (Hueso) and SB 1390 (Correa); and
• Highway Account of the Highway Trust Fund – FY 2013/14 projected estimates
for end of the month cash balances.
Aaron Hake introduced and expressed appreciation to Craig Scott, Automobile Club of
Southern California (AAA) representative, for being great partners to work with.
RCTC Budget and Implementation Committee Minutes
June 23, 2014
Page 7
Anne Mayer reiterated how each of the cap and trade allocations will be under state
control. The Administration will pick the projects, hand the projects to the California
Transportation Commission (CTC), and tell the CTC to allocate the funds. She discussed
how the Administration is focused on controlling how the funds are spent in the state of
California on transportation.
M/S/C (Berg/Zanowic) to:
1) Receive and file an update on state and federal legislation;
2) Adopt the following bill positions:
a) SB 1228 (Hueso) – Support If Amended;
b) SB 1390 (Correa) – Support In Concept; and
3) Forward to the Commission for final action.
13. COMMISSIONERS / EXECUTIVE DIRECTOR REPORT
Anne Mayer congratulated Commissioner Zanowic for receiving the Women of
Distinction of the 23rd Senate District award for going above and beyond to serve others
through community service and civic involvement.
14. ADJOURNMENT AND NEXT MEETING
There being no further business for consideration by the Budget and Implementation
Committee, the meeting was adjourned at 10:39 a.m. The next meeting of the Budget
and Implementation Committee is scheduled for July 28, 2014, at 9:30 a.m.
Respectfully submitted,
Jennifer Harmon
Clerk of the Board
AGENDA ITEM 7A
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Michele Cisneros, Finance Manager/Controller
THROUGH: Theresia Trevino, Chief Financial Officer
SUBJECT: Quarterly Financial Statements
STAFF RECOMMENDATION:
This item is for the Committee to:
1) Receive and file the Quarterly Financial Statements for the year ended June 30, 2014;
and
2) Forward to the Commission for final action.
BACKGROUND INFORMATION:
During the past fiscal year, staff monitored the revenues and expenditures for the Commission.
The attached financial statements present the revenues and expenditures for the 12 months of
FY 2013/14. Many accrual adjustments for revenues and expenditures have been made for
June 30, 2014, and are reflected in these financial statements; however, staff will continue to
make year-end accrual adjustments depending upon materiality through the completion of the
audit in October.
The operating statement shows sales tax revenues through the fourth quarter at 88 percent of
the budget. This is a result of the Governmental Accounting Standards Board (GASB) Statement
No. 33. GASB 33 requires sales tax revenue to be accrued for the period in which it is collected
at point of sale. The State Board of Equalization collects the Measure A funds and remits these
funds to the Commission after the reporting period for the business. This creates a two-month
lag in the receipt of revenues by the Commission. Accordingly, these financial statements
reflect the revenues related to collections through May 2014.
On a cash basis through June 30, 2014, the Measure A and Local Transportation Fund (LTF) sales
tax receipts are 5.61 percent and 5.84 percent higher, respectively, than the same period last
fiscal year. At the January 8 meeting, the Commission approved the revised FY 2013/14
revenue projections and increased the Measure A and LTF revenues by $10 million and
$4 million to $157 million and $76.5 million, respectively. These increased projected revenues
are included in the sales tax revenues budget for this quarterly report. State Transit Assistance
Fund receipts of $3.6 million for third quarter were received in April 2014. Staff will continue to
Agenda Item 7A
1
monitor the trends in the sales tax receipts and report to the Commission any necessary
adjustments.
Federal, state, and local revenues are on a reimbursement basis. The Commission will receive
these revenues as eligible project costs are incurred and invoiced to the respective agencies.
Significant federal and state reimbursements are related to the Perris Valley Line, State Route
91 Corridor Improvement Project (SR-91 CIP), and Interstate 215 corridor improvement
projects. The following is an analysis of federal and state reimbursement revenues reflected in
this quarterly financial report:
Budget Actual Budget Actual
Highways
SR-91 CIP $ - $ - $ 37,000,000 $ 39,173,000
I-215 - - 42,283,000 23,495,753
Other 18,537,600 7,465,385 - -
Total 18,537,600 7,465,385 79,283,000 62,668,753
Rail
Perris Valley Line 75,100,000 23,651,132 43,240,000 -
Other - - 5,788,941 2,810,689
Total 75,100,000 23,651,132 49,028,941 2,810,689
Other 751,400 224,774 9,579,300 8,020,826
Total $ 94,389,000 $ 31,341,291 $ 137,891,241 $ 73,500,268
Federal Reimbursement State Reimbursement Revenues
Staff will continue to prepare year-end reimbursement accrual adjustments in connection with
the year-end closing and audit process; however, actual federal and state reimbursement
revenues, as presented above, are below budgeted amounts primarily due to delays on the
I-215 and Perris Valley Line projects.
During the FY 2013/14 budget process the Commission took a conservative approach in
estimating Transportation Uniform Mitigation Fee (TUMF) revenues of $6.3 million passed
through Western Riverside Council of Governments (WRCOG). At the January 8 meeting, the
Commission approved the revised FY 2013/14 revenue projections and increased the TUMF
revenues to $12 million. On May 14, the Commission approved a second revised projection
related to a projected decrease in TUMF revenues of $4.6 million to $7.4 million, as reflected in
this quarterly financial report. Actual TUMF revenues through May are approximately
$8.85 million. The budgeted balance of $423,400 relates to TUMF zone reimbursements from
WRCOG for the 74/215 Interchange project of which the Commission has received $93,045.
Staff will continue to prepare year-end TUMF revenue and reimbursement revenue accrual
adjustments in connection with the year-end closing and audit process.
Agenda Item 7A
2
Other revenues include property management revenues generated from properties acquired in
connection with the SR-91 CIP and a contribution made on the Mid County Parkway project.
The Commission took a conservative approach in estimating investment income for FY 2013/14
as a result of flat interest yields on investment balances. Investment income is above budgeted
amounts primarily as a result of the investment of sales tax and toll revenue bond proceeds.
Staff will continue to prepare year-end investment income accrual adjustments in connection
with the year-end closing and audit process.
The expenditure categories are in line overall with the expectations of the budget with the
following exceptions. Staff will continue to prepare year-end expenditure accrual adjustments
in connection with the year-end closing and audit process.
• Salaries and benefits expenditures are under budget due to unused full-time equivalents
and budget authority;
• Professional services expenditures are under budget due to unused budget authority for
rail and station development planning, debt and investment management, and various
projects’ legal services;
• Support costs are under budget due to unused budget authority for the marketing of
new service of the 91 Line trains, rail station and motorist assistance maintenance and
repairs, rail operations security projects, and advertising for motorist assistance and
commuter assistance programs;
• Program operations are under budget due to unused budget authority for SR-91 CIP
permit activities, general highway program management, motorist and commuter
assistance program operations, and rail program management and operations related to
the Perris Valley Line project;
• Operating and capital disbursements are made as claims are submitted to the
Commission by transit operators;
• Special studies are under budget due to unused budget authority for project, planning,
and monitoring and rail feasibility studies;
• Local streets and roads expenditures are related to the timing of Measure A sales tax
revenue accrual adjustments for June and the clean-up, which will be determined in late
August and September. That will have a direct effect on the local streets and roads turn
back expenditures to local jurisdictions;
• Regional arterial expenditures primarily represent expenditures for the highways and
regional arterial program administered by the Coachella Valley Association of
Governments (CVAG). CVAG requests reimbursements from the Commission based on
available and sufficient budget authority; and
• Capital outlay expenditures are under budget due to unused budget authority for
station security improvements and hardware and software improvements.
Debt service interest expenditures on the 2010 and 2013 Sales Tax Bonds and the 2013 Toll
Bonds are made annually in December and June, while interest expenditures on the 2009 Sales
Agenda Item 7A
3
Tax Bonds are made monthly due to the variable rate nature of the bonds. Principal payments
on the 2009 and 2010 Sales Tax Revenue Bonds are made annually in June. Principal payments
for the 2013 Sales Tax Bonds and the 2013 Toll Bonds are not expected to begin until June 2018
and June 2022, respectively. The debt service variance of $16.7 million is primarily related to
the retirement of $60 million in outstanding commercial paper notes in connection with the
SR-91 CIP financing instead of the projected $80 million.
In July 2013 the Commission completed the financing for the design and construction of the
SR-91 CIP. The financing included the issuance of $462.2 million in sales tax revenue bonds at a
premium of approximately $38.3 million and $176.7 million in toll revenue bonds at a discount
of approximately $2.4 million, execution of a $421.1 million federal Transportation
Infrastructure Finance and Innovation Act (TIFIA) loan with the U.S. Department of
Transportation, and contribution of $136.5 million from the Commission during construction.
Due to the dynamic conditions occurring around the period when the bonds were priced in
June 2013, the actual premium was significantly lower than budgeted. A portion of the 2013
Sales Tax Bonds was used to retire $60 million of outstanding commercial paper notes with
remaining proceeds to be used to pay a portion of the costs of the SR-91 CIP; capitalized
interest on 2013 Sales Tax Bonds through December 1, 2017; and costs of issuance for the 2013
Sales Tax Bonds. The proceeds of the 2013 Toll Bonds were used to pay a portion of the costs
of the SR-91 CIP; capitalized interest on the 2013 Toll Bonds through December 1, 2017; and
costs of issuance for the 2013 Toll Bonds in addition to funding a debt service reserve of
$17.7 million. The TIFIA loan will be used to pay eligible SR-91 CIP costs. The loan is a toll
revenue bond (TIFIA Bond) that is subordinate to the 2013 Toll Bonds. Proceeds of the TIFIA
Bond may be drawn upon after certain conditions have been met; no drawdowns on the TIFIA
Bond occurred during FY 2013/14.
The following list discusses the significant capital projects (i.e., total budgeted costs in excess of
$5 million) and related status. Capital project expenditures are generally affected by lags in
invoices submitted by contractors and consultants, as well as issues encountered during certain
phases of the projects. The capital projects budgets tend to be based on aggressive project
schedules.
Highway Engineering/Construction/Design-Build/Right of Way/Land
SR-91 High Occupancy Vehicle Lanes Project – Caltrans completed design work and
expenditures remain within the budget authority. Utility relocation continues and the
submittal of invoices for expenditures incurred to date continues to lag. Staff oversees right of
way acquisition, which has been certified; one acquisition is still pending settlement.
Construction began in April 2012 and is managed by Caltrans.
71/91 Interchange Project – A contract for the final design consultant was awarded at the
February 2012 Commission meeting. A notice to proceed (NTP) was issued in March 2012
starting the final design phase. Final design was delayed due to the Army Corps of Engineers
(ACOE) requirement for a new environmental assessment on potholing on federal property.
Agenda Item 7A
4
The ACOE also required preparation of an additional environmental assessment to cover
project construction impacts on federal property resulting from the eastbound SR-91 to
northbound SR-71 flyover connector. Right of way acquisition is expected to begin in the first
quarter of FY 2014/15 and final design is expected to be completed during the second quarter
of FY 2014/15. The project is currently under budget due to the progress of final design.
SR-91 CIP (Design-Build) – The Commission completed financing activities for this project
including the issuance of sales tax and toll revenue bonds and execution of a TIFIA loan in
July 2013. Right of way acquisition work is underway including eminent domain proceedings
and is expected to continue to peak in FY 2014/15. A design-build contract was awarded in
May 2013, and a limited NTP was issued concurrent with the contract award and included early
deliverables and mobilization. Full NTP has been given and the contractor is proceeding.
Construction progress is slightly slower than anticipated; therefore, Commission expenditures
are less than budgeted. The SR-91 CIP’s projected substantial completion date of January 2017
is unchanged.
I-15 Express Lanes – Staff continues to advance the project report and environmental
document, which is expected to be completed in FY 2015/16. Various methods of project
delivery were analyzed in 2013, and ultimately staff received Commission approval in January
2014 to use the design-build method of project delivery and begin planning for the design-build
phase of work.
I-215 Central Widening Project from Scott Road to Nuevo Road – The NTP for construction was
issued in December 2012, with the first working day starting in January 2013. Delays occurred
due to changes in field conditions, discovery of unsuitable material, and an existing sewer line
in the state right of way.
Mid County Parkway Project – Staff continues to work toward the completion of the
Environmental Impact Report (EIR)/Environmental Impact Statement (EIS). The Multi-Species
Habitat Conservation Plan Consistency Analysis and the Determination of Biological Equivalent
Superior Preservation is scheduled to be completed and resubmitted to the Riverside
Conservation Authority at the end of August 2014. The final environmental document internal
review will begin in the first quarter of FY 2014/15. A budget amendment was approved by the
Commission in April 2014 to allocate additional funding for the completion of Phase II Final
EIR/Supplemental EIS.
TUMF and Western County Measure A Regional Arterial Projects – Due to various local
jurisdiction delays, many construction projects have been postponed to later fiscal years.
Rail Engineering/Construction/Right of Way/Land
Perris Valley Line Project – Final design is complete, and the Federal Transit Administration
awarded the Small Starts grant agreement funds. Right of way acquisition activity for the
station and layover facility at south Perris has been completed. A lawsuit brought by the
Agenda Item 7A
5
Friends of Riverside Hills challenging elements of the California Environmental Quality Act
document was settled in July 2013 and recorded in the FY 2012/13 financial statements. The
construction contract was given full NTP in October 2013 following Federal Transit
Administration approval of the Small Starts Grant Agreement. Active construction commenced
in January 2014; some construction delays have occurred due to various factors. These delays
are not expected to impact the scheduled completion date.
Attachments: Quarterly Financial Statements – June 2014
Agenda Item 7A
6
Revenues
Sales tax 246,798,000$ 216,197,688$ (30,600,312)$ 88%
Federal reimbursements 94,389,000 31,341,291 (63,047,709)33%
State reimbursements 137,891,241 73,500,268 (64,390,973)53%
Local reimbursements 2,954,400 4,216,166 1,261,766 143%
Transportation Uniform Mitigation Fee 7,823,400 8,942,074 1,118,674 114%
Other revenues 500,000 2,289,411 1,789,411 458%
Investment income 4,026,500 8,374,553 4,348,053 208%
Total revenues 494,382,541 344,861,451 (149,521,090)70%
Expenditures
Salaries and benefits 7,949,400 6,877,440 1,071,960 87%
Professional and support
Professional services 17,930,300 12,303,447 5,626,853 69%
Support costs 5,583,700 3,313,637 2,270,063 59%
Total Professional and support costs 23,514,000 15,617,084 7,896,916 66%
Projects and operations
Program operations - general 20,140,400 14,990,508 5,149,892 74%
Engineering 22,208,900 12,405,415 9,803,485 56%
Construction 237,691,874 90,520,218 147,171,656 38%
Design Build 217,750,000 156,564,703 61,185,297 72%
Right of way/land 179,682,800 92,745,418 86,937,382 52%
Operating and capital disbursements 122,723,000 89,279,219 33,443,781 73%
Special studies 1,018,900 117,160 901,740 11%
Local streets and roads 46,865,900 40,991,970 5,873,930 87%
Regional arterials 27,471,000 13,503,319 13,967,681 49%
Total projects and operations 875,552,774 511,117,930 364,434,844 58%
Debt service
Principal 83,775,000 67,100,000 16,675,000 80%
Interest 43,400,800 43,400,206 594 100%
Cost of issuance 7,051,300 7,050,855 445 100%
Total debt service 134,227,100 117,551,061 16,676,039 88%
Capital outlay 792,700 65,283 727,417 8%
Total Expenditures 1,042,035,974 651,228,798 390,807,176 62%
Excess revenues over (under) expenditures (547,653,433)(306,367,347)400,611,106 56%
Other financing sources/(uses)
Operating transfer in 637,010,565 473,692,181 (163,318,384)74%
Operating transfer out (637,010,565)(473,692,181) 163,318,384 74%
TIFIA loan proceeds 110,000,000 - (110,000,000)N/A
Debt proceeds 638,855,000 638,854,602 (398)100%
Bond premium 61,919,000 38,328,774 (23,590,226)62%
Bond discount (2,433,300)(2,433,315) (15)100%
Total financing sources/(uses)808,340,700 674,750,061 133,590,639 83%
Net change in fund balances 260,687,267 368,382,714 534,201,745 141%
Fund balance July 1, 2013 590,821,600 622,186,895 31,365,295 105%
Fund balance June 30, 2014 851,508,867$ 990,569,609$ 565,567,040$ 116%
QUARTERLY BUDGET VS ACTUAL
RIVERSIDE COUNTY TRANPORTATION COMMISSION
4TH QUARTER
FOR TWELVE MONTHS ENDED 6/30/2014
FY 2013/14
BUDGET
4TH QUARTER
ACTUAL
PERCENT
UTILIZATION
REMAINING
BALANCE
7
Revenues
Sales tax 2,800,000$ -$ 101,819,766$ 32,029,331$ 1,004,087$ 68,046,180$ 10,498,324$ -$ -$ -$ -$ -$ 216,197,688$
Federal reimbursements 12,374 186 28,604,525 - - - - (43,195) - - - 2,767,401 31,341,291
State reimbursements 307,209 3,399,492 65,593,567 4,200,000 - - - - - - - - 73,500,268
Local reimbursements 228,858 168,453 3,818,855 - - - - - - - - - 4,216,166
Transportation Uniform Mitigation Fee - - 93,046 - - - - 8,849,028 - - - - 8,942,074
Other revenues 13,877 1,146 632,388 - - - - 1,642,000 - - - - 2,289,411
Investment income 33,419 23,970 738,050 94,753 - 286,260 162,911 550,438 1,825,455 1,833,963 203,013 2,622,321 8,374,553
Total revenues 3,395,737 3,593,247 201,300,197 36,324,084 1,004,087 68,332,440 10,661,235 10,998,271 1,825,455 1,833,963 203,013 5,389,722 344,861,451
Expenditures
Salaries and benefits 3,842,120 107,078 2,686,183 284 - - - 241,775 - - - - 6,877,440
Professional and support
Professional services 1,459,706 525,609 9,317,653 6,939 - - - 693,540 300,000 - - - 12,303,447
Support costs 2,497,859 299,154 515,806 91 - - - 727 - - - - 3,313,637
Total Professional and support costs 3,957,565 824,763 9,833,459 7,030 - - - 694,267 300,000 - - - 15,617,084
Projects and operations
Program operations - general 1,616,020 2,559,009 10,338,376 23,697 - - - 453,406 - - - - 14,990,508
Engineering 19,806 - 8,704,175 - - - - 3,681,434 - - - - 12,405,415
Construction - - 74,166,296 - - - - 16,353,922 - - - - 90,520,218
Design Build - - 156,564,703 - - - - - - - - - 156,564,703
Right of way/land - - 83,400,434 - - - - 9,344,984 - - - - 92,745,418
Operating and capital disbursements 9,742,340 - 4,811,064 5,217,000 - 54,701,936 14,806,879 - - - - - 89,279,219
Special studies 81,710 - 35,450 - - - - - - - - - 117,160
Local streets and roads - - 28,777,617 11,210,266 1,004,087 - - - - - - - 40,991,970
Regional arterials - - - 12,468,319 - - - 1,035,000 - - - - 13,503,319
Total projects and operations 11,459,876 2,559,009 366,798,115 28,919,282 1,004,087 54,701,936 14,806,879 30,868,746 - - - - 511,117,930
Debt service
Principal - - - - - - - - 60,000,000 - - 7,100,000 67,100,000
Interest - - - - - - - - 789 - - 43,399,417 43,400,206
Cost of issuance - - - - - - - - - 4,131,685 2,919,170 - 7,050,855
Total debt service - - - - - - - - 60,000,789 4,131,685 2,919,170 50,499,417 117,551,061
Capital outlay 32,282 - 33,001 - - - - - - - - - 65,283
Total Expenditures 19,291,843 3,490,850 379,350,758 28,926,596 1,004,087 54,701,936 14,806,879 31,804,788 60,300,789 4,131,685 2,919,170 50,499,417 651,228,798
Excess revenues over (under) expenditures (15,896,106) 102,397 (178,050,561) 7,397,488 - 13,630,504 (4,145,644) (20,806,517) (58,475,334) (2,297,722) (2,716,157) (45,109,695) (306,367,347)
Other financing sources/(uses)
Operating transfer in 12,452,875 916,400 223,737,454 - - - - 3,766,228 60,001,951 - - 172,817,273 473,692,181
Operating transfer out - (916,400) (20,274,801) - - (12,452,875) - (1,690,282) (9,397,766) (300,772,016) (125,420,641) (2,767,400) (473,692,181)
TIFIA loan proceeds - - - - - - - - - - - - -
Debt proceeds - - - - - - - - - 462,200,000 176,654,602 - 638,854,602
Bond premium - - - - - - - - - 38,328,774 - - 38,328,774
Bond discount - - - - - - - - - - (2,433,315) - (2,433,315)
Total financing sources/(uses)12,452,875 - 203,462,653 - - (12,452,875) - 2,075,946 50,604,185 199,756,758 48,800,646 170,049,873 674,750,061
Net change in fund balances (3,443,231) 102,397 25,412,092 7,397,488 - 1,177,629 (4,145,644) (18,730,571) (7,871,149) 197,459,036 46,084,489 124,940,178 368,382,714
Fund balance July 1, 2013 12,840,351 7,482,078 294,464,723 27,356,273 556 105,242,957 55,693,488 67,306,789 36,097,201 4,477,116 - 11,225,363 622,186,895
Fund balance June 30, 2014 9,397,120$ 7,584,475$ 319,876,815$ 34,753,761$ 556$ 106,420,586$ 51,547,844$ 48,576,218$ 28,226,052$ 201,936,152$ 46,084,489$ 136,165,541$ 990,569,609$
MEASURE A SALES TAX
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
QUARTERLY BUDGET VS ACTUALS BY FUND
4TH QUARTER
FOR NINE MONTHS ENDED 6/30/2014
SALES TAX
BONDS DEBT SERVICE COMBINED
TOTAL
COMMERCIAL
PAPER
STATE TRANSIT
ASSISTANCE
TRANSPORTATION
UNIFORM
MITIGATION FEE
(TUMF)
TOLL REVENUE
BONDSGENERAL FUND FSP/
SAFE
WESTERN
COUNTY
PALO
VERDE
VALLEY
COACHELLA
VALLEY
LOCAL
TRANSPORTATION
FUND
8
AGENDA ITEM 7B
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Marla Dye, Procurement Analyst
Matt Wallace, Procurement Manager
THROUGH: Theresia Trevino, Chief Financial Officer
SUBJECT: Single Signature Authority Report
STAFF RECOMMENDATION:
This item is for the Committee to:
1) Receive and file the Single Signature Authority report for the fourth quarter ended
June 30, 2014; and
2) Forward to the Commission for final action.
BACKGROUND INFORMATION:
Certain contracts are executed under single signature authority as permitted in the
Commission’s Procurement Policy Manual adopted in December 2012. The Executive Director
is authorized to sign service contracts that are less than $100,000 individually and in an
aggregate amount not to exceed $1 million in any given fiscal year. Additionally, in accordance
with Public Utilities Code Section 130323(c), the Executive Director is authorized to sign
contracts for supplies, equipment, materials, and construction of all facilities and works under
$50,000 individually.
The attached report details all contracts executed for the fourth quarter ended June 30, 2014,
under the single signature authority granted to the Executive Director. The unused capacity of
single signature authority for services at June 30 is $463,772.
Attachment: Single Signature Authority Report as of June 30, 2014
Agenda Item 7B
9
V:\2014\09 September\Budget and Implementation\7B.MD.Att1.SingleSignQ4.xlsx
CONSULTANT DESCRIPTION OF SERVICES ORIGINAL CONTRACT
AMOUNT
PAID AMOUNT REMAINING
CONTRACT AMOUNT
AMOUNT AVAILABLE July 1, 2013 $1,000,000.00
Green Com, Inc. Public outreach services on the I-215, Blaine St. to MLK Blvd Project 10,000.00 10,000.00 0.00
Southern California Regional Rail Authority Switching Passenger Train Traffic at Pachappa Crossing over SR-91
HOV Project 30,000.00
0.00 30,000.00
Corner Stone Right of Way Relocation Appeal Hearing Officer Services 10,000.00 5,548.59 4,451.41
AECOM Construction Contract Change Order Support for the I-215/SR-60 East
Junction HOV Project
58,175.23 0.00 58,175.23
ThyssenKrupp Elevator Americas Elevator Maintenance Service - North Main Corona Station 54,000.00 15,185.60 38,814.40
Bartel & Associates, Inc Actuarial Valuation Services for OPEB Calculation 2,500.00 0.00 2,500.00
Express Transportation Systems, Inc Taxi Service During the Maintenance of the Pedestrian Crossing 1,257.20 1,257.20 0.00
Smith, Watts & Martinez LLC Extra Work Public Opinion Survey - Quality of Life Issues in Riverside
County
63,800.00 58,000.00 5,800.00
Arellano Associates Release sponsorship funds for specific event purposes necessary for
the SR-91 CIP and PVL groundbreaking events
60,000.00 48,790.23 11,209.77
Avila & Putnam, PLC Legal Services for Eminent Domain on the SR-91 CIP.50,000.00 20,216.57 29,783.43
HDR Construction Control Corporation Close analysis for the CM Services for the I-215 Widening Blaine St. to
MLK Blvd. 35,794.00 33,143.44 2,650.56
Southstar Engineering & Consulting Additional funds for Right of Way Management Support Services 4,000.00 3,625.00 375.00
Spectrum Group Arbitration Support and Errors and Omissions Review Perris Multimodal
Services Project
20,000.00 3,897.40 16,102.60
Transportation Corridor Agencies FasTrak® License Agreement 1.00 0.00 1.00
AON Global Risk Consulting Insurance Audit Services 45,000.00 0.00 45,000.00
Associated Right of Way Services, Inc Relocation Assistance Services for the SR-91 CIP 50,000.00 150.00 49,850.00
Caltrans Rent Profilograph Equipment for the I-215 Central Widening Project 1,700.00 0.00 1,700.00
All Security Services Security Guard Services for Commission Owned Property on the SR- 91
CIP
40,000.00 19,470.00 20,530.00
AMOUNT USED 536,227.43
536,227.43
$463,772.57
None N/A -$ -$ -$
Marla Dye Theresia Trevino
Prepared by Reviewed by
AMOUNT USED
SINGLE SIGNATURE AUTHORITY
AS OF June 30, 2014
Note: Shaded area represents new contracts listed in the third quarter.
AMOUNT REMAINING through June 30, 2014
Agreements that fall under Public Utilities Code 130323 (C)
10
AGENDA ITEM 7C
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Michele Cisneros, Finance Manager/Controller
THROUGH: Theresia Trevino, Chief Financial Officer
SUBJECT: Quarterly Sales Tax Analysis
STAFF RECOMMENDATION:
This item is for the Committee to:
1) Receive and file the sales tax analysis for Quarter 1 2014 (Q1 2014); and
2) Forward to the Commission for final action.
BACKGROUND INFORMATION:
At its December 2007 meeting, the Commission awarded an agreement to MuniServices, LLC
(MuniServices) for quarterly sales tax reporting services plus additional fees contingent on
additional sales tax revenue generated from the transactions and use tax (sales tax) audit
services. As part of the recurring contracts process, the Commission approved a five-year
extension through June 30, 2018. The services performed under this agreement pertain to only
the Measure A sales tax revenues.
Since the commencement of these services, MuniServices submitted an audit update, which
reported findings generated and submitted to the State Board of Equalization (SBOE) for review
and determination of errors in sales tax reporting related to 292 businesses. For Q4 2013, the
SBOE approved corrections for 218 of these accounts for a total sales tax revenue recovery of
$4,224,302. Updated amounts through Q1 2014 will be provided once received from
MuniServices. If the SBOE concurs with the error(s) for the remaining claims, the Commission
will receive additional revenues; however, the magnitude of the value of the remaining findings
was not available. It is important to note that while the recoveries of additional revenues will
be tangible, it will not be sufficient to alter the overall trend of sales tax revenues.
Additionally, MuniServices provided the Commission with the quarterly sales tax summary
report for the Q1 2014. Most of the Q1 2014 Measure A sales tax revenues were received by
the Commission in the second quarter of calendar year 2014, during April through June 2014,
due to a lag in the sales tax calendar. The summary section of the Q1 2014 report is attached
and includes an overview of California sales tax receipts, local results, historical cash collections
analysis by quarter, summary of the top 25 sales/use tax contributors, historical sales tax
Agenda Item 7C
11
amounts, annual sales tax by business category, five-year economic trend for significant
business category (construction), and results.
Sales tax receipts for Riverside County were 4.7 percent higher compared to Q1 2013. While
auto sales-new and restaurants had the largest gains in Q1 2014 compared to Q1 2013, the
largest declines during the same period were related to electronic equipment and department
stores. The decline in electronic equipment, similar to recent prior quarters, is attributable to
certain energy-related companies and the completion of renewable energy developments in
Riverside County, while the department store decline may be due to internet transactions and a
general statewide decline in purchases in Q1 2014.
Taxable transactions for the top 25 tax contributors in Riverside County, generated 22 percent
of the taxable sales for the year ended Q1 2014, which was comparable to the year ended Q1
2013. The top 100 tax contributors generated 36 percent of the taxable sales for the year
ended Q1 2014, which was comparable to the year ended Q1 2013.
In the Economic Category Analysis below, five of the six categories experienced increases in the
Q1 2014 benchmark year compared to Q1 2013, while the business to business category was
flat and slightly under the high for Q2 2013. Construction has the largest increase at
12.5 percent and experienced significant increases for several recent quarters. The
construction increase was primarily related to the building materials wholesale segment. The
other four economic categories had increases ranging from 3.5 percent to 6.5 percent.
% of Total / % Change RCTC State Wide S.F. Bay Area Sacramento
Valley
Central
Valley South Coast Inland
Empire North Coast Central
C oast
General Retail 28.4 / 3.5 28.5 / 1.9 27.8 / 2.5 28.4 / 1.2 30.5 / 3.2 28.9 / 1.4 26.8 / 2.2 28.4 / 1.0 32.4 / 1.1
Food Products 16.3 / 6.1 19.4 / 4.7 20.5 / 6.5 16.4 / 2.8 16.0 / 3.1 20.3 / 4.2 16.7 / 5.6 18.4 / 2.8 29.9 / -1.6
Transportation 27.0 / 6.5 25.1 / 4.5 22.3 / 5.3 28.9 / 6.6 27.1 / 5.2 24.8 / 3.3 28.9 / 6.3 30.9 / 1.6 21.9 / 2.5
Construction 11.9 / 12.5 9.0 / 5.9 9.1 / 9.1 10.6 / 6.7 11.1 / 6.5 8.0 / 2.9 11.0 / 9.2 12.5 / 5.8 9.3 / 9.2
Business to Business 14.5 / 0.0 16.9 / 2.2 19.2 / -0.8 14.1 / 3.8 14.1 / 1.4 17.1 / 3.0 15.7 / 6.4 9.0 / 4.9 5.2 / -3.4
Miscellaneous 1.9 / 4.4 1.1 / -8.7 1.1 / -6.9 1.7 / 0.7 1.2 / -1.5 1.0 / -9.0 1.0 / -21.8 0.8 / -5.7 1.2 / 11.3
Total 100.0 / 5.2 100.0 / 3.3 100.0 / 3.7 100.0 / 3.9 100.0 / 3.7 100.0 / 2.7 100.0 / 5.0 100.0 / 2.4 100.0 / 1.1
General Retail: Apparel Stores, Department Stores, Furniture/Appliances, Drug Stores, Recreation Products, Florist/Nursery, and Misc. Retail
Food Products: Restaurants, Food Markets, Liquor Stores, and Food Processing Equipment
Construction: Building Materials Retail and Building Materials Wholesale
Transportation: Auto Parts/Repair, Auto Sales - New, Auto Sales - Used, Service Stations, and Misc. Vehicle Sales
Business to Business: Office Equip., Electronic Equip., Business Services, Energy Sales, Chemical Products, Heavy Industry, Light Industry, and Leasing
Miscellaneous: Health & Government, Miscellaneous Other, and Closed Account Adjustments
ECONOMIC CATEGORY ANALYSIS
For five of the top ten segments (auto sales-new, restaurants, building materials-wholesale,
miscellaneous retail, and food markets) during the past eight quarters, sales taxes reached a
new high point. These five segments represent 40.3 percent of the total sales tax receipts.
Service stations, one of the top ten segments representing 10.8 percent of the total sales tax
receipts, decreased to a new low point in the past two-year period. The high point for service
stations occurred in Q4 2012. Three of the top ten segments (department stores, apparel
stores, and building materials-retail) were under the Q4 2013 amount, and the other top ten
Agenda Item 7C
12
segment (light industry) remained slightly above Q4 2013. These four segments that fell
between the high and low points represent 24.5 percent of the total sales tax receipts. The top
ten segments represent 75.6 percent of the total sales tax receipts. For the other segments
representing 24.4 percent of the total sales tax receipts, the segments representing
21.8 percent of the total sales tax receipts reached new high points in the past two years during
Q1 2014.
In the Economic Segment Analysis below, service stations, auto sales-new, and department
stores represent the three largest economic segments for Riverside County, or 32.2 percent of
total sales taxes. This is the sixth consecutive quarter since Q3 2008 that auto sales-new has
been in the top three economic segments, having moved from third largest segment in prior
quarters to second largest segment in Q1 2014. Growth seen in previous quarters for the
service stations segment has been declining as shown by the 2.1 percent decrease for the year
ended Q1 2014 due to lower gas prices.
RCTC State Wide S.F. Bay Area Sacramento
Valley
Central
Valley South Coast Inland
Empire North Coast Central
Coast
Largest Segment Service
Stations Restaurants Restaurants
Auto Sales -
New
Department
Stores Restaurants Service
Stations
Service
Stations Restaurants
% of Total / % Change 10.8 / -2.1 13.4 / 6.0 14.3 / 7.8 12.0 / 13.5 14.0 / 1.1 14.5 / 6.6 12.2 / -5.7 13.3 / -6.0 21.2 / 13.5
2nd Largest Segment Auto Sales -
New
Auto Sales -
New
Auto Sales -
New
Department
Stores
Service
Stations
Auto Sales -
New
Department
Stores
Department
Stores Misc. Retail
% of Total / % Change 10.8 / 14.1 10.4 / 10.8 10.0 / 10.5 11.5 / 1.5 11.3 / -1.4 10.6 / 15.2 11.2 / -1.1 11.4 / -9.0 9.9 / 1.5
3rd Largest Segment Department
Stores
Department
Stores
Department
Stores Restaurants Auto Sales -
New
Department
Stores Restaurants Auto Sales -
New
Service
Stations
% of Total / % Change 10.6 / 1.4 10.1 / 0.0 8.5 / -0.7 10.5 / 1.3 9.8 / 11.6 9.8 / 0.9 10.5 / 5.1 10.2 / 16.4 9.6 / 1.3
ECONOMIC SEGMENT ANALYSIS
During the review of the Q1 2014 detailed report with MuniServices, information regarding
sales tax comparisons by city and change by economic category from Q1 2013 to Q1 2014 was
provided.
Staff continues to monitor monthly sales tax receipts and other available economic data to
determine the need for any adjustment to the revenue projections. Staff will utilize the
forecast scenarios included with the complete report and recent trends in assessing such
projections.
Attachments:
1) Sales Tax Digest Summary Q1 2014
2) Quarterly Sales Tax Change Comparison by City for Q1 2013 to Q1 2014
Agenda Item 7C
13
Riverside County Transportation Commission
Sales Tax Digest Summary
Collections through June 2014
Sales through March 2014 (2014Q1)
www.MuniServices.com (800) 800-8181 Page 1
CALIFORNIA’S ECONOMIC OUTLOOK
California sales tax receipts increased by 3.7% over the same quarter from the previous year, with
Northern California reporting a 3.6% increase compared to 3.8% for Southern California. Receipts for the
District of Rctc changed by 4.7% over the same periods.
Sales of existing single-family homes increased 7.4 % in April, the largest monthly gain since January
2011. Compared to a year ago, sales were down 7%, and April marked the ninth straight monthly decline
on a year-over-year basis. The median number of days to sell was 34 days, well below the average of 58
days in 2007. The median price of existing single-family homes rose by 3.2 percent in April to $449,360,
the highest level since December 2007. Multifamily home building surged in April to its highest level
since March 2007 and the value of nonresidential building in April increased over 31% from the previous
month, but the total value of all building activity is still 33% below the pre-recession peak in 2005.
California's unemployment rate continued to drop by 0.2 of a percentage point to 7.6 percent in May —
the lowest rate since August 2008. California has recovered all but 25,200 of the jobs it lost during the
recession, (the high was 15,449,800 jobs in July 2007).
LOCAL RESULTS
Net Cash Receipts Analysis
Local Collections $38,784,207
Share of County Pool 0.0% 0
Share of State Pool 0.0% 0
SBE Net Collections 38,784,207
Less: Amount Due County 0.0% .00
Less: Cost of Administration (471,420)
Net 1Q2014 Receipts 38,312,787
Net 1Q2013 Receipts 36,575,783
Actual Percentage Change 4.7%
Business Activity Performance Analysis
Local Collections $38,784,207
Less: Payments for Prior Periods (1,722,599)
Preliminary 1Q2014 Collections 37,061,608
Projected 1Q2014 Late Payments 1,484,475
Projected 1Q2014 Final Results 38,546,083
Actual 1Q2013 Results 36,869,625
Projected Percentage Change 4.5%
ATTACHMENT 1
14
Riverside County Transportation Commission
www.MuniServices.com (800) 800-8181 Page 2
HISTORICAL CASH COLLECTIONS ANALYSIS BY QUARTER
TOP 25 SALES/USE TAX CONTRIBUTORS
The following list identifies Rctc’s Top 25 Sales/Use Tax contributors. The list is in alphabetical order and
represents sales from April 2013 to March 2014. The Top 25 Sales/Use Tax contributors generate 22.3%
of Rctc’s total sales and use tax revenue.
ALBERSTON'S FOOD CENTERS MACY'S DEPARTMENT STORE
AMAZON.COM RALPH'S GROCERY COMPANY
BEST BUY STORES ROSS STORES
CARMAX THE AUTO SUPERSTORE SAM'S CLUB
CHEVRON SERVICE STATIONS STATER BROS MARKETS
CIRCLE K FOOD STORES TARGET STORES
COSTCO WHOLESALE TOYOTA OF RIVERSIDE
DEPT OF MOTOR VEHICLES USA SERVICE STATIONS
DESERT SUNLIGHT VONS SERVICE STATIONS
HOME DEPOT WAL MART STORES
K MART STORES WALGREEN'S DRUG STORES
KOHL'S DEPARTMENT STORES WHIRLPOOL CORPORATION
LOWE'S HOME IMPROVEMENT
(in thousands of $)
$0
$5,000
$10,000
$15,000
$20,000
$25,000
$30,000
$35,000
$40,000
$45,000
4Q2011 1Q2012 2Q2012 3Q2012 4Q2012 1Q2013 2Q2013 3Q2013 4Q2013 1Q2014N e t R e c e i p t s$0
$50
$100
$150
$200
$250
$300
$350
$400
$450
$500
A d m i n F e e sNet Receipts SBOE Admin Fees Due
15
Riverside County Transportation Commission
www.MuniServices.com (800) 800-8181 Page 3
HISTORICAL SALES TAX AMOUNTS
The following chart shows the sales tax level from sales through March 2014, the highs, and the lows for
each segment over the last two years.
ANNUAL SALES TAX BY BUSINESS CATEGORY
(in thousands of $)
39,028
39,555
39,981
40,693
41,373
42,179
42,689
43,098
43,585
43,668
21,511
22,098
22,603
23,055
23,452
23,719
24,073
24,298
24,776
25,165
35,327
36,286
37,187
37,894
38,673
39,060
39,746
40,432
40,999
41,591
13,677
13,852
14,379
15,086
15,505
16,265
17,203
17,999
17,966
18,295
18,772
19,090
19,932
20,880
21,768
22,371
22,461
22,313
22,096
22,361
2,762
2,783
2,757
2,753
2,802
2,822
2,790
2,854
2,926
2,946
$0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000
4Q2011
1Q2012
2Q2012
3Q2012
4Q2012
1Q2013
2Q2013
3Q2013
4Q2013
1Q2014
General Retail Food Products Transportation Construction Business To Business Miscellaneous
(in thousands of $)
$0
$2,000
$4,000
$6,000
$8,000
$10,000
$12,000
$14,000
$16,000
$18,000
Service StationsAuto Sales - NewDepartment StoresRestaurantsBldg.Matls-WhsleMiscellaneous RetailApparel StoresFood MarketsBldg.Matls-RetailLight Industry1Q2014
High
Low
16
Riverside County Transportation Commission
www.MuniServices.com (800) 800-8181 Page 4
FIVE-YEAR ECONOMIC TREND: Construction
PER CAPITA BY BUSINESS SEGMENT
This chart shows sales tax per capita from business segments from April 2013 to March 2014.
(in thousands of $)
$0
$1,000
$2,000
$3,000
$4,000
$5,000
$6,000
1Q20092Q20093Q20094Q20091Q20102Q20103Q20104Q20101Q20112Q20113Q20114Q20111Q20122Q20123Q20124Q20121Q20132Q20133Q20134Q20131Q2014
17
Riverside County Transportation Commission
www.MuniServices.com (800) 800-8181 Page 5
FINAL RESULTS: October-December 2013 Sales
Local Net Cash Collections $41,196,481
Less: Pool Amounts ($-447,720)
Less: Prior Quarter Payments ($2,360,219)
Add: Late Payments $1,374,648
Local Net Economic Collections after Adjustments $40,658,629
Percent Change from January-March 2012 Sales UP BY 3.4%
MUNISERVICES’ ON-GOING AUDIT RESULTS
This Quarter $357,213
Total to Date $4,376,666
18
Quarterly Sales Tax ChangeGeneral RetailFood ProductsTransportionConstructionB2BMisc.Jan ‐ Mar 2014 (2014Q1)Jan ‐ Mar 2013 (2013Q1) % ChgGainGainDeclineDeclineRIVERSIDE COUNTYRCTC0.8% 6.1% 6.0% 8.3% 5.0% 2.9% 38,545,647 36,869,101 4.5%Auto Sales ‐ New RestaurantsElectronic Equipment Department StoresBanning3.6% 2.4% 1.3%‐2.3%‐3.6%‐61.6%440,569436,2301.0%Drug StoresDepartment StoresService Stations Auto Sales ‐ NewBeaumont‐0.1%7.0% 1.9%‐7.0%8.4% 30.7%848,919834,5331.7%Bldg.Matls‐Retail Misc. Vehicle SalesRestaurantsService StationsBlythe‐10.7%‐5.4%‐5.0%‐28.7%‐28.1%34.1%401,005456,097‐12.1%Light IndustryAuto Sales ‐ NewFurniture/Appliance Bldg.Matls‐WhsleCalimesa27.0% 8.1%‐0.4%5.7% 91.9% 16.8%160,592147,2549.1%Auto Parts/Repair Light IndustryRestaurantsMisc. Vehicle SalesCanyon Lake‐19.6%‐32.6%311.6% 80.8%145.7%‐25.1%36,82835,6083.4%Department Stores Service StationsAuto Sales ‐ Used Liquor StoresCathedral City‐3.5%‐1.0%10.5%‐7.2%‐3.4%4.2%1,874,6591,788,1994.8%Heavy IndustryAuto Sales ‐ NewMisc. Vehicle Sales Business ServicesCoachella‐0.8%0.6% 0.2% 11.5% 63.4% 79.2%836,342802,3074.2%Service Stations Light IndustryBldg.Matls‐Whsle Bldg.Matls‐RetailCorona0.0% 5.2% 0.4% 16.8% 3.0%‐17.6%7,418,7577,029,8575.5%Department Stores Bldg.Matls‐WhsleBldg.Matls‐Retail Chemical ProductsDesert Hot Springs‐22.1%10.7%‐3.2%25.6%‐91.1%22.7%345,902424,980‐18.6%Department Stores RestaurantsFood MarketsHeavy IndustryEastvale1.0% 20.3%‐10.3%5.8% 11.2% 24.3%1,275,9401,203,9726.0%Department Stores Electronic EquipmentRestaurantsService StationsHemet‐2.7%5.1% 28.5% 11.1% 13.4% 6.0%2,552,0622,226,56214.6%Service Stations Auto Sales ‐ NewBldg.Matls‐Retail Department StoresIndian Wells‐28.6%‐1.4%‐10.1%‐20.7%‐15.7%‐0.7%356,400392,156‐9.1%Light IndustryFurniture/ApplianceRecreation Products Miscellaneous RetailIndio‐2.8%‐0.1%17.2% 17.6% 22.3% 2.6%2,234,4112,048,0779.1%Misc. Vehicle Sales Service StationsBldg.Matls‐Whsle Department StoresJurupa Valley‐1.6%4.4%‐1.6%48.3% 11.8%‐22.3%1,983,2511,849,4097.2%Service Stations Bldg.Matls‐WhsleOffice Equipment Department StoresLa Quinta‐12.1%24.1% 0.3% 25.0% 11.2% 10.6%2,194,6162,121,6723.4%Department Stores RestaurantsBldg.Matls‐Retail Miscellaneous RetailLake Elsinore0.4% 3.1%‐3.2%7.2% 43.5%‐12.5%1,671,9981,636,8192.1%Service Stations Heavy IndustryBldg.Matls‐Whsle Bldg.Matls‐RetailMenifee‐2.8%5.3% 7.2% 47.1% 22.2%‐9.5%1,220,4581,136,9007.3%Service Stations Bldg.Matls‐RetailMisc. Vehicle Sales Apparel StoresMoreno Valley0.5% 4.4% 4.6% 42.2% 47.4%‐8.0%3,505,9693,231,3038.5%Drug StoresBldg.Matls‐WhsleRestaurantsFood MarketsMurrieta‐3.8%5.2% 6.4% 20.2% 53.4% 52.8%2,942,2282,709,4658.6%Service Stations Energy SalesLeasingDepartment StoresNorco7.8% 8.7% 13.0%‐7.3%4.2% 6.7%1,182,8891,080,4439.5%Department Stores Auto Sales ‐ UsedAuto Sales ‐ New Service StationsPalm Desert0.3% 8.6%‐8.7%23.3% 4.9% 28.4%4,569,7534,420,9983.4%Service Stations Apparel StoresBldg.Matls‐Retail Department StoresPalm Springs3.2% 10.1% 5.6% 5.2%‐1.5%53.9%2,991,8722,834,6775.5%Office Equipment RestaurantsService Stations Energy SalesPerris0.5% 5.2% 4.3% 18.8% 20.2%‐18.2%1,765,1181,662,4176.2%Miscellaneous Other Electronic EquipmentAuto Sales ‐ New Service StationsRancho Mirage2.8% 3.2% 23.8% 3.1% 7.3%‐1.8%1,195,1821,119,8666.7%Bldg.Matls‐Retail Auto Sales ‐ NewRestaurantsMisc. Vehicle SalesRiverside‐0.7%4.7% 16.8%23.8% 12.3% 6.8%11,886,25010,733,43610.7%Drug StoresAuto Sales ‐ NewBldg.Matls‐Whsle Department StoresRiverside County3.4% 10.1% 3.5% 2.1%‐58.4%7.1%6,427,9376,770,578‐5.1%Business Services Food Processing EqpService Stations Electronic EquipmentSan Jacinto‐2.1%4.3%‐7.3%23.8% 18.2% 8.3%508,110508,783‐0.1%Auto Sales ‐ Used RestaurantsBldg.Matls‐Whsle Auto Parts/RepairTemecula‐1.4%5.8% 7.1% 12.2% 4.6%‐6.9%6,390,8446,163,3053.7%Energy SalesAuto Sales ‐ NewAuto Sales ‐ Used Department StoresWildomar‐2.0%0.4% 24.3%‐12.3%11.5%‐17.0%317,978290,2329.6%Drug StoresService StationsRestaurantsBldg.Matls‐WhsleATTACHMENT 219
AGENDA ITEM 7D
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Megan Kavand, Accounting Technician
Anne Hallberg, Accounting Supervisor
THROUGH: Theresia Trevino, Chief Financial Officer
SUBJECT: Quarterly Investment Report
STAFF RECOMMENDATION:
This item is for the Committee to:
1) Receive and file the Quarterly Investment Report for the quarter ended June 30, 2014;
and
2) Forward to the Commission for final action.
BACKGROUND INFORMATION:
For the past few years and as a result of a low interest rate environment, the Commission’s
quarterly investment reports have reflected investments primarily concentrated in the
Riverside County Pooled Investment Fund (RCPIF). Other investments included the state Local
Agency Investment Fund and mutual funds.
In connection with the issuance of sales tax revenue bonds and toll revenue bonds and the
execution of Transportation Infrastructure Finance and Innovation Act (TIFIA) loan for the State
Route 91 Corridor Improvement Project (SR-91 CIP), the Commission anticipated the need to
engage an investment manager for the bond proceeds and other required funds. Additionally,
the Commission desired to engage an investment manager to provide investment advisory and
management services related to the Commission’s operating funds. Accordingly, at its May
2013 meeting, the Commission awarded two investment management services agreements to
Logan Circle Partners, L.P. (Logan) for SR-91 CIP funds and to Payden & Rygel Investment
Management (Payden & Rygel) for Commission operating funds.
Logan invested the SR-91 CIP debt proceeds during the first quarter of FY2013/14 in the Short-
Term Actively Managed Program (STAMP). Since most of the first quarter activity concentrated
in the investment and accounting for the SR-91 CIP financing, Payden & Pygel has not yet been
authorized to make specific investments for the Commission’s operating funds.
Agenda Item 7D
20
The quarterly investment report for the fourth quarter of FY 2013/14 as required by state law
and Commission policy reflects the increased investment activities resulting from the SR-91 CIP.
The quarterly investment report includes the following information:
• Investment Portfolio Report;
• STAMP Portfolio by Investment Category;
• STAMP Portfolio by Account;
• STAMP Portfolio Transaction Report by Account;
• STAMP Portfolio Summary of investment by credit rating, industry group, asset class,
security type and market sector;
• STAMP Portfolio Toll Revenue Project Senior Lien Fund Summary of investment by credit
rating, industry group, asset class, security type and market sector;
• STAMP Portfolio Toll Revenue Project Sales Tax Revenue Fund Summary of investment
by credit rating, industry group, asset class, security type and market sector;
• STAMP Portfolio Toll Revenue Series A & Series B Reserve Fund Summary of investment
by credit rating, industry group, asset class, security type and market sector;
• STAMP Portfolio Toll Revenue Project Capitalized Interest Fund Summary of investment
by credit rating, industry group, asset class, security type and market sector;
• STAMP Portfolio Sales Tax Revenue Capitalized Interest Fund Summary of investment by
credit rating, industry group, asset class, security type and market sector; and
• County of Riverside Investment Report for the Quarter Ended June 30, 2014.
The Commission’s investments were in full compliance with the Commission’s investment
policy adopted on June 7, 2012. Additionally, the Commission has adequate cash flows for the
next six months.
Attachments:
1) Investment Portfolio Report
2) STAMP Portfolio by Investment Category
3) STAMP Portfolio by Account
4) STAMP Portfolio Transaction Report by Account
5) STAMP Portfolio Summary of Investments
6) STAMP Portfolio Toll Revenue Project Senior Lien Fund Summary of Investments
7) STAMP Portfolio Toll Revenue Project Sales Tax Revenue Fund Summary of Investments
8) STAMP Portfolio Toll Revenue Series A & Series B Reserve Fund Summary of
Investments
9) STAMP Portfolio Toll Revenue Project Capitalized Interest Fund Summary of Investments
10) STAMP Portfolio Sales Tax Revenue Capitalized Interest Fund Summary of Investments
11) County of Riverside Investment Report
Agenda Item 7D
21
Riverside County Transportation Commission
Investment Portfolio Report
Period Ended: June 30, 2014
FAIR VALUE
RATING
MOODYS/FITCH/S&P
COUPON
RATE
PAR
VALUE
PURCHASE
DATE
MATURITY
DATE
YIELD TO
MATURITY
PURCHASE
COST
MARKET
VALUE
UNREALIZED
GAIN (LOSS)
OPERATING FUNDS
City National Bank Deposits 37,234,521 A3/BBB+N/A N/A
County Treasurer's Pooled Investment Fund 431,821,615 Aaa-bf/AAA/V1 N/A 0.39%
Local Agency Investment Fund (LAIF)3,627,254 Not Rated N/A N/A
Subtotal Operating Funds 472,683,390
FUNDS HELD IN TRUST
County Treasurer's Pooled Investment Fund:
Local Transportation Fund 101,871,080 Aaa-bf/AAA/V1 N/A 0.39%
Subtotal Funds Held in Trust 101,871,080
COMMISSION MANAGED PORTFOLIO
US Bank Money Market -
First American Government Obligation Fund 3,601,393 Aaa-bf/AAA/V1 N/A N/A
Cost of Issuance Fund BNY Mellon Money Market -
Subtotal Commission Managed Portfolio 3,601,394
STAMP PORTFOLIO for 91 CIP
Toll Revenue Project Senior Lien Fund 46,073,678
Toll Revenue Project Sales Tax Revenue Fund 207,637,355
Series A & Series B Reserve Fund 18,144,952
Toll Revenue Project Capitalized Interest Fund 25,386,722
Sales Tax Revenue Capitalized Interest Fund 83,298,025
Subtotal STAMP Portfolio 380,540,732
TOTAL All Cash and Investments 958,696,596$
See attached report for details
See attached report for details
See attached report for details
See attached report for details
See attached report for details
0
50,000,000
100,000,000
150,000,000
200,000,000
250,000,000
300,000,000
350,000,000
400,000,000
450,000,000
500,000,000
1.88%
26.30%
11.27%
1.00%
10.55%
49.00% STAMP Portfolio for 91 CIP Reserve
STAMP Portfolio for 91 CIP Project
Fund
STAMP Portfolio for 91 CIP Capitalized
Interest
Commission Managed Portfolio Debt
Reserve
Trust Funds
Operating Funds
Nature of Investments 1.00% Mutual
Funds
59.18% County
Pool/Cash
0.38% LAIF
39.33% Fixed
Income
0.11% Money
Market Funds
Portfolio Investment Type
ATTACHMENT 1
22
Page 2 of 21
Source
Account Account Identifier
Security Type
Category Issuer
Final
Maturity Trade Date
Current Face
Value Original Cost
Next Call
Date
Base Market
Value
Base Net Total
Unrealized
Gain/Loss Coupon Yield
Summarized
Credit Rating
347621 LC-Sr Lien Reserve Fund-1 3137EACA5 Agency Federal Home Loan Mortgage Corporation 03/27/2019 07/05/2013 800,000.00 875,900.00 ---879,208.00 15,708.17 3.750 1.574 AAA
205091001 LC-2013 A Capitalized Interest 31398AZV7 Agency Federal National Mortgage Association 11/20/2014 06/30/2014 1,100,000.00 1,110,808.60 ---1,110,681.00 (52.02)2.625 0.127 AAA
205091001 LC-2013 A Capitalized Interest 3134A4UU6 Agency Federal Home Loan Mortgage Corporation 07/15/2014 06/04/2014 200,000.00 201,124.88 ---200,380.00 (4.11)5.000 0.429 AAA
347621 LC-Sr Lien Reserve Fund-1 3137EADB2 Agency Federal Home Loan Mortgage Corporation 01/13/2022 07/05/2013 550,000.00 529,303.50 ---548,916.50 17,475.63 2.375 2.404 AAA
347621 LC-Sr Lien Reserve Fund-1 3136G1QA0 Agency Federal National Mortgage Association 08/01/2018 04/23/2014 200,000.00 200,376.00 08/01/2014 200,140.00 22.26 1.060 0.246 AAA
347621 LC-Sr Lien Reserve Fund-1 3135G0JA2 Agency Federal National Mortgage Association 04/27/2017 ---575,000.00 574,886.75 ---577,898.00 2,865.14 1.125 0.944 AAA
347621 LC-Sr Lien Reserve Fund-1 313381H24 Agency Federal Home Loan Banks Office of Finance 01/16/2015 ---780,000.00 780,471.80 ---780,561.60 316.00 0.250 0.118 AAA
205091001 LC-2013 A Capitalized Interest 313385N51 Agency Federal Home Loan Banks Office of Finance 11/07/2014 06/13/2014 500,000.00 499,830.00 ---499,890.00 42.30 0.000 0.062 AAA
347621 LC-Sr Lien Reserve Fund-1 38376LE39 Agency CMO The Government National Mortgage Association Gua 12/20/2038 07/08/2013 28,880.12 29,250.14 ---29,385.06 329.21 4.000 -1.667 AAA
347621 LC-Sr Lien Reserve Fund-1 31395EZP5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2019 07/09/2013 171,327.31 181,258.93 ---181,749.15 1,718.60 4.500 0.814 AAA
347621 LC-Sr Lien Reserve Fund-1 38377UN20 Agency CMO The Government National Mortgage Association Gua 01/20/2040 ---438,704.87 450,062.07 ---450,888.15 1,909.35 3.000 1.063 AAA
347621 LC-Sr Lien Reserve Fund-1 31398VWC6 Agency CMO Federal Home Loan Mortgage Corporation 06/15/2028 07/08/2013 156,938.70 160,764.08 ---158,389.44 (179.35)7.000 3.105 AAA
205091001 LC-2013 A Capitalized Interest 31392FPP6 Agency CMO Federal National Mortgage Association 11/25/2017 07/15/2013 307,128.40 325,268.17 ---322,884.09 1,045.63 5.000 0.705 AAA
347621 LC-Sr Lien Reserve Fund-1 3137AEV77 Agency CMO Federal Home Loan Mortgage Corporation 05/25/2018 07/03/2013 251,000.00 258,314.30 ---261,578.90 4,789.68 2.699 1.518 AAA
347621 LC-Sr Lien Reserve Fund-1 31392JJ83 Agency CMO Federal National Mortgage Association 03/25/2018 07/08/2013 49,595.40 52,323.14 ---52,356.52 560.23 5.000 0.723 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 31395MLT4 Agency CMO Federal Home Loan Mortgage Corporation 06/15/2019 07/15/2013 48,782.70 49,575.42 ---48,826.95 (81.12)4.500 -0.003 AAA
347621 LC-Sr Lien Reserve Fund-1 38377RVK8 Agency CMO The Government National Mortgage Association Gua 04/20/2039 07/03/2013 148,556.27 152,084.47 ---153,447.18 1,658.99 3.000 1.904 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 3137ASNH3 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2021 08/15/2013 445,693.79 433,994.32 ---442,734.82 7,429.77 1.459 1.612 AAA
347621 LC-Sr Lien Reserve Fund-1 3137ASNH3 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2021 07/03/2013 445,693.79 435,543.81 ---442,734.82 5,901.08 1.459 1.612 AAA
347621 LC-Sr Lien Reserve Fund-1 31397QUQ9 Agency CMO Federal National Mortgage Association 06/25/2020 12/31/2013 183,975.61 195,415.59 ---189,897.60 (4,265.07)2.750 0.680 AAA
347621 LC-Sr Lien Reserve Fund-1 31395K5G4 Agency CMO Federal Home Loan Mortgage Corporation 05/15/2033 07/08/2013 16,933.05 17,176.46 ---16,994.19 1.63 5.000 1.726 AAA
347621 LC-Sr Lien Reserve Fund-1 38377JZ89 Agency CMO The Government National Mortgage Association Gua 10/20/2039 07/05/2013 225,195.92 232,083.74 ---237,081.08 5,326.01 3.500 1.739 AAA
205091001 LC-2013 A Capitalized Interest 31392HWL3 Agency CMO Federal National Mortgage Association 02/25/2018 07/12/2013 69,937.64 73,827.92 ---73,794.00 688.56 5.000 0.720 AAA
205091001 LC-2013 A Capitalized Interest 31392F6C6 Agency CMO Federal National Mortgage Association 12/25/2017 07/09/2013 468,239.97 496,700.18 ---492,752.33 1,453.88 5.000 0.709 AAA
205091001 LC-2013 A Capitalized Interest 31392BVM5 Agency CMO Federal National Mortgage Association 02/25/2017 07/11/2013 158,768.08 167,599.56 ---165,596.70 239.19 5.500 0.599 AAA
347621 LC-Sr Lien Reserve Fund-1 3137AQT24 Agency CMO Federal Home Loan Mortgage Corporation 01/25/2019 10/21/2013 170,000.00 171,195.31 ---172,604.23 1,591.96 2.130 1.751 AAA
205091001 LC-2013 A Capitalized Interest 3136ACGF2 Agency CMO Federal National Mortgage Association 02/25/2016 07/15/2013 2,280,380.55 2,286,081.50 ---2,295,659.10 12,001.40 1.083 0.601 AAA
347621 LC-Sr Lien Reserve Fund-1 3136A7MJ8 Agency CMO Federal National Mortgage Association 12/25/2019 08/20/2013 175,000.00 172,402.34 ---176,080.10 3,212.09 1.520 1.310 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 3133XCQE6 Agency CMO Federal Home Loan Banks Office of Finance 07/28/2015 08/13/2013 146,497.98 154,189.12 ---152,715.50 1,005.63 5.250 0.725 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 3137ANLP8 Agency CMO Federal Home Loan Mortgage Corporation 11/25/2016 07/09/2013 930,000.00 939,227.34 ---945,530.07 9,413.24 1.655 0.838 AAA
205091001 LC-2013 A Capitalized Interest 3137ANLP8 Agency CMO Federal Home Loan Mortgage Corporation 11/25/2016 07/08/2013 3,070,000.00 3,100,460.16 ---3,121,269.00 31,076.87 1.655 0.838 AAA
347621 LC-Sr Lien Reserve Fund-1 38378TAF7 Agency CMO The Government National Mortgage Association Gua 07/20/2041 07/05/2013 280,264.53 280,306.78 ---282,056.54 1,816.38 2.500 2.329 AAA
347621 LC-Sr Lien Reserve Fund-1 3137AUPE3 Agency CMO Federal Home Loan Mortgage Corporation 06/25/2022 07/03/2013 235,000.00 220,358.40 ---231,676.16 9,935.70 2.396 2.586 AAA
205091001 LC-2013 A Capitalized Interest 31393V2T7 Agency CMO Federal Home Loan Mortgage Corporation 06/15/2018 07/08/2013 1,108,053.40 1,171,939.60 ---1,163,999.02 2,375.75 4.500 0.829 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 31393V2T7 Agency CMO Federal Home Loan Mortgage Corporation 06/15/2018 07/08/2013 336,544.09 355,947.96 ---353,535.86 721.24 4.500 0.830 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 31393EXC8 Agency CMO Federal National Mortgage Association 09/25/2018 07/24/2013 63,894.70 67,548.68 ---67,207.32 219.17 4.500 0.859 AAA
205091001 LC-2013 A Capitalized Interest 31393EXC8 Agency CMO Federal National Mortgage Association 09/25/2018 07/24/2013 575,052.33 607,938.14 ---604,868.79 1,975.42 4.500 0.845 AAA
347621 LC-Sr Lien Reserve Fund-1 3137B03W2 Agency CMO Federal Home Loan Mortgage Corporation 08/25/2017 07/31/2013 45,000.00 44,964.84 ---45,380.16 417.47 1.426 1.080 AAA
347621 LC-Sr Lien Reserve Fund-1 3137A7E22 Agency CMO Federal Home Loan Mortgage Corporation 04/15/2028 07/08/2013 357,502.87 370,127.18 ---370,968.22 2,776.24 3.500 1.412 AAA
205091001 LC-2013 A Capitalized Interest 3136A4M89 Agency CMO Federal National Mortgage Association 01/25/2019 07/05/2013 651,565.16 655,713.80 ---661,397.28 6,539.52 1.934 1.434 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 3136A4M89 Agency CMO Federal National Mortgage Association 01/25/2019 07/05/2013 200,154.00 201,428.42 ---203,174.53 2,009.07 1.934 1.434 AAA
205091001 LC-2013 A Capitalized Interest 3136A8G38 Agency CMO Federal National Mortgage Association 08/25/2017 07/08/2013 2,915,361.58 2,872,314.45 ---2,931,949.99 51,219.78 1.246 1.019 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 3136A8G38 Agency CMO Federal National Mortgage Association 08/25/2017 07/08/2013 883,155.14 870,114.80 ---888,182.94 15,518.74 1.246 1.019 AAA
347621 LC-Sr Lien Reserve Fund-1 3136A72D3 Agency CMO Federal National Mortgage Association 04/25/2022 07/03/2013 395,000.00 375,250.00 ---391,385.36 14,244.22 2.482 2.604 AAA
347621 LC-Sr Lien Reserve Fund-1 38378CRT6 Agency CMO The Government National Mortgage Association Gua 10/20/2040 05/22/2014 148,031.25 142,942.67 ---144,290.79 1,374.46 2.000 2.567 AAA
347621 LC-Sr Lien Reserve Fund-1 38377DPX8 Agency CMO The Government National Mortgage Association Gua 11/20/2036 12/31/2013 75,100.62 78,729.70 ---76,598.58 (1,561.85)2.500 0.719 AAA
347621 LC-Sr Lien Reserve Fund-1 31394DVM9 Agency CMO Federal National Mortgage Association 02/25/2034 06/19/2014 261,528.75 276,525.79 ---276,391.43 (471.54)5.000 1.343 AAA
205091001 LC-2013 A Capitalized Interest 38376GWZ9 Agency MBS The Government National Mortgage Association Gua 08/16/2031 07/11/2013 2,533,732.99 2,535,514.52 ---2,543,437.19 10,260.74 1.864 0.971 AAA
205091001 LC-2013 A Capitalized Interest 3132FEAK7 Agency MBS Federal Home Loan Mortgage Corporation 12/01/2017 07/03/2013 295,914.03 313,576.40 ---314,112.74 3,363.68 5.000 0.100 AAA
205091001 LC-2013 A Capitalized Interest 31401MWC1 Agency MBS Federal National Mortgage Association 06/01/2018 07/12/2013 1,175,893.20 1,253,796.13 ---1,248,680.99 13,091.83 4.500 0.346 AAA
205091001 LC-2013 A Capitalized Interest 3128GNR59 Agency MBS Federal Home Loan Mortgage Corporation 10/01/2016 07/05/2013 404,514.39 428,532.44 ---417,709.65 (3,939.83)6.000 2.244 AAA
347621 LC-Sr Lien Reserve Fund-1 3128MMAK9 Agency MBS Federal Home Loan Mortgage Corporation 09/01/2019 07/08/2013 229,943.58 244,458.76 ---244,170.19 1,175.18 5.000 1.442 AAA
205091001 LC-2013 A Capitalized Interest 36200AFG9 Agency MBS Government National Mortgage Association 11/15/2017 07/09/2013 92,046.61 98,087.16 ---97,604.38 438.50 5.500 0.550 AAA
347621 LC-Sr Lien Reserve Fund-1 3137B6ZL8 Agency MBS Federal Home Loan Mortgage Corporation 12/25/2019 01/07/2014 57,805.13 58,960.58 ---59,123.26 265.51 2.075 1.259 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 31385JLF3 Agency MBS Federal National Mortgage Association 08/01/2017 09/18/2013 303,958.75 324,475.97 ---318,804.10 (2,463.74)6.000 1.553 AAA
205091001 LC-2013 A Capitalized Interest 31294LPZ0 Agency MBS Federal Home Loan Mortgage Corporation 12/01/2016 07/05/2013 292,228.64 308,940.46 ---306,363.74 769.00 6.000 0.777 AAA
347621 LC-Sr Lien Reserve Fund-1 3136A4M48 Agency MBS Federal National Mortgage Association 01/25/2022 07/05/2013 422,066.01 423,253.07 ---427,806.95 4,806.57 2.098 1.722 AAA
205091001 LC-2013 A Capitalized Interest 3128H4NR6 Agency MBS Federal Home Loan Mortgage Corporation 05/01/2018 07/16/2013 150,452.55 159,385.67 ---159,705.38 1,838.05 5.000 0.389 AAA
347621 LC-Sr Lien Reserve Fund-1 31417YKF3 Agency MBS Federal National Mortgage Association 01/01/2030 07/10/2013 207,376.38 218,782.08 ---226,005.00 7,093.22 4.500 1.823 AAA
347621 LC-Sr Lien Reserve Fund-1 3137A7JU5 Agency MBS Federal Home Loan Mortgage Corporation 11/25/2017 07/03/2013 325,000.00 351,203.13 ---350,643.80 5,507.18 3.882 1.330 AAA
347621 LC-Sr Lien Reserve Fund-1 31404WTT3 Agency MBS Federal National Mortgage Association 05/01/2019 12/31/2013 135,141.24 150,647.67 ---143,530.81 (5,592.21)4.500 0.791 AAA
347621 LC-Sr Lien Reserve Fund-1 31294KZL2 Agency MBS Federal Home Loan Mortgage Corporation 05/01/2019 01/06/2014 71,351.44 77,576.07 ---75,803.05 (1,160.99)4.000 0.476 AAA
205091001 LC-2013 A Capitalized Interest 3128PHVS7 Agency MBS Federal Home Loan Mortgage Corporation 11/01/2019 07/16/2013 151,127.44 159,250.55 ---160,421.78 2,353.14 5.000 0.098 AAA
347621 LC-Sr Lien Reserve Fund-1 3136AEYG6 Agency MBS Federal National Mortgage Association 06/25/2018 11/20/2013 170,000.00 171,341.41 ---172,015.35 880.99 1.825 1.481 AAA
347621 LC-Sr Lien Reserve Fund-1 31416YXJ2 Agency MBS Federal National Mortgage Association 08/01/2026 07/03/2013 78,367.70 82,053.42 ---83,154.40 1,304.45 3.500 1.705 AAA
347621 LC-Sr Lien Reserve Fund-1 3138EJ6V5 Agency MBS Federal National Mortgage Association 09/01/2026 11/18/2013 170,841.82 181,385.97 ---183,036.34 2,105.27 4.000 1.683 AAA
205091001 LC-2013 A Capitalized Interest 31402QT68 Agency MBS Federal National Mortgage Association 10/01/2019 07/11/2013 466,344.70 503,798.01 ---495,239.42 (3,202.87)6.000 1.649 AAA
205091001 LC-2013 A Capitalized Interest 3128MBTH0 Agency MBS Federal Home Loan Mortgage Corporation 03/01/2019 07/26/2013 183,178.88 194,169.61 ---194,444.38 1,640.12 5.000 0.791 AAA
STAMP Portfolio by Investment Category for quarter ended June 30, 2014
ATTACHMENT 2
23
Page 3 of 21
Source
Account Account Identifier
Security Type
Category Issuer
Final
Maturity Trade Date
Current Face
Value Original Cost
Next Call
Date
Base Market
Value
Base Net Total
Unrealized
Gain/Loss Coupon Yield
Summarized
Credit Rating
STAMP Portfolio by Investment Category for quarter ended June 30, 2014
347621 LC-Sr Lien Reserve Fund-1 31385XBG1 Agency MBS Federal National Mortgage Association 03/01/2018 09/13/2013 37,965.17 40,432.90 ---39,867.22 (123.37)6.000 1.450 AAA
205091001 LC-2013 A Capitalized Interest 31410GSQ7 Agency MBS Federal National Mortgage Association 12/01/2017 07/05/2013 253,278.06 271,957.32 ---268,745.75 586.90 6.000 0.772 AAA
205091001 LC-2013 A Capitalized Interest 3128PGLY7 Agency MBS Federal Home Loan Mortgage Corporation 05/01/2017 07/17/2013 372,991.52 393,039.82 ---395,930.50 8,005.60 5.000 -0.367 AAA
205091001 LC-2013 A Capitalized Interest 36290WH47 Agency MBS Government National Mortgage Association 09/15/2018 07/18/2013 1,565,725.88 1,663,583.76 ---1,648,850.27 (3,666.88)4.500 1.055 AAA
347621 LC-Sr Lien Reserve Fund-1 31418AFW3 Agency MBS Federal National Mortgage Association 06/01/2022 07/10/2013 316,305.20 326,683.96 ---330,807.79 5,118.27 3.000 1.140 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 31402RBG3 Agency MBS Federal National Mortgage Association 09/01/2019 ---147,412.89 158,122.11 ---155,345.18 (992.94)6.000 1.591 AAA
205091001 LC-2013 A Capitalized Interest 31402RBG3 Agency MBS Federal National Mortgage Association 09/01/2019 ---504,130.79 540,702.66 ---531,258.07 (3,367.97)6.000 1.591 AAA
347625 LC-Project Fund-2 Senior Lien 36162DAC3 Asset Backed GE EQUIP SMALL TICKET LLC SER2011-2 06/22/2015 02/06/2014 227,679.57 228,293.23 ---227,941.40 (28.69)1.370 0.405 AAA
347625 LC-Project Fund-2 Senior Lien 17308BAN8 Asset Backed Citibank Omni-S Master Trust 11/15/2018 02/19/2014 1,350,000.00 1,393,189.45 ---1,372,512.60 318.34 4.900 0.443 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 17308BAN8 Asset Backed Citibank Omni-S Master Trust 11/15/2018 ---7,650,000.00 8,013,333.99 ---7,777,571.40 7,179.51 4.900 0.443 AAA
347625 LC-Project Fund-2 Senior Lien 02582JFV7 Asset Backed American Express Credit Account Master Trust 03/15/2017 01/07/2014 1,000,000.00 1,006,992.19 ---1,001,520.00 70.01 1.402 0.214 AAA
347625 LC-Project Fund-2 Senior Lien 92867KAC8 Asset Backed Volkswagen Auto Lease Trust 2012-A 07/20/2015 01/17/2014 275,844.37 276,577.08 ---276,126.84 (127.32)0.870 0.487 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 89236QAC5 Asset Backed Toyota Auto Receivables 2011-B Owner Trust 06/15/2015 01/14/2014 583,864.88 584,640.32 ---584,155.64 (25.97)0.680 0.267 AAA
347625 LC-Project Fund-2 Senior Lien 89236QAC5 Asset Backed Toyota Auto Receivables 2011-B Owner Trust 06/15/2015 01/14/2014 186,106.93 186,354.10 ---186,199.61 (8.28)0.680 0.267 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 02582JFY1 Asset Backed American Express Credit Account Master Trust 04/17/2017 07/05/2013 1,000,000.00 1,001,796.88 ---1,000,906.00 589.88 0.852 0.431 AA
347628 LC-PF-2 Sales Tax Revenue Bond 43812XAB1 Asset Backed Honda Auto Receivables 2013-3 Owner Trust 01/15/2016 07/17/2013 4,642,716.43 4,642,647.25 ---4,646,388.81 3,695.02 0.540 0.316 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 47787BAC9 Asset Backed John Deere Owner Trust 2012 03/15/2016 07/05/2013 351,030.38 351,359.47 ---351,473.73 289.32 0.750 0.391 AAA
347625 LC-Project Fund-2 Senior Lien 36159LBN5 Asset Backed GE Dealer Floorplan Master Not 07/20/2016 01/07/2014 2,000,000.00 2,004,062.50 ---2,000,438.00 14.82 0.753 0.377 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 36159LBN5 Asset Backed GE Dealer Floorplan Master Not 07/20/2016 ---3,135,000.00 3,141,315.23 ---3,135,686.57 30.40 0.753 0.377 AAA
347625 LC-Project Fund-2 Senior Lien 36162NAC1 Asset Backed GE Equipment Transportation LLC, Series 2012-1 11/23/2015 02/13/2014 237,868.84 238,389.17 ---238,133.82 (59.57)0.990 ---AAA
347628 LC-PF-2 Sales Tax Revenue Bond 36159JCS8 Asset Backed GE Capital Credit Card Master Note Trust 01/15/2018 07/15/2013 2,295,000.00 2,304,682.03 ---2,301,834.51 3,324.32 1.030 0.480 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 89231NAC7 Asset Backed Toyota Auto Receivables 2012-B Owner Trust 07/15/2016 02/14/2014 884,091.23 884,678.32 ---884,520.01 (6.03)0.460 0.374 AAA
347625 LC-Project Fund-2 Senior Lien 89231NAC7 Asset Backed Toyota Auto Receivables 2012-B Owner Trust 07/15/2016 ---994,093.36 994,676.47 ---994,575.50 53.60 0.460 0.374 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 36159JBT7 Asset Backed GE Capital Credit Card Master Note Trust 11/15/2017 07/11/2013 5,000,000.00 5,209,179.69 ---5,062,870.00 4,172.98 3.800 0.444 AAA
347625 LC-Project Fund-2 Senior Lien 92867KAD6 Asset Backed Volkswagen Auto Lease Trust 2012-A 05/22/2017 02/19/2014 1,300,000.00 1,306,296.88 ---1,302,583.10 (1,279.50)1.060 0.706 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 17308BAL2 Asset Backed Citibank Omni-S Master Trust 08/15/2018 ---4,340,000.00 4,557,730.08 ---4,366,586.84 1,655.21 5.350 0.438 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 36162WAC1 Asset Backed GE Equipment Transportation LLC, Series 2013-1 11/25/2016 07/09/2013 925,000.00 921,964.84 ---926,674.25 3,186.63 0.690 ---AAA
347628 LC-PF-2 Sales Tax Revenue Bond 36162RAC2 Asset Backed GE Equipment Small Ticket, L.L.C., Series 2012-1 09/21/2015 07/10/2013 3,790,185.93 3,802,178.32 ---3,796,985.52 3,637.84 1.040 0.388 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 55314QAC1 Asset Backed MMAF EQUIP FIN LLC 2012-A 08/10/2016 ---3,409,967.03 3,418,676.91 ---3,417,213.21 3,724.75 0.940 0.421 AAA
347625 LC-Project Fund-2 Senior Lien 55314QAC1 Asset Backed MMAF EQUIP FIN LLC 2012-A 08/10/2016 01/16/2014 615,665.69 617,108.65 ---616,973.98 437.21 0.940 0.421 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 55314MAC0 Asset Backed MMAF Equipment Finance LLC 2011-A 09/15/2015 07/10/2013 1,051,805.57 1,054,352.92 ---1,052,762.72 469.61 1.270 0.224 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 17181BG79 CP Cigna Corporation 07/07/2014 05/06/2014 7,000,000.00 6,996,560.27 ---6,999,587.00 (74.67)0.000 0.354 AA
347625 LC-Project Fund-2 Senior Lien 17181BG79 CP Cigna Corporation 07/07/2014 05/06/2014 1,500,000.00 1,499,262.92 ---1,499,911.50 (16.00)0.000 0.354 AA
347625 LC-Project Fund-2 Senior Lien 26244JGE3 CP Duke Energy Corporation 07/14/2014 06/10/2014 1,500,000.00 1,499,733.33 ---1,499,800.50 (91.17)0.000 0.369 AA
347628 LC-PF-2 Sales Tax Revenue Bond 26244JGE3 CP Duke Energy Corporation 07/14/2014 06/10/2014 8,000,000.00 7,998,577.76 ---7,998,936.00 (486.22)0.000 0.369 AA
347623 LC-Sr Lien Ob Fund-1 Interest 60920WGM6 CP Mondelez International, Inc.07/21/2014 06/05/2014 700,000.00 699,755.00 ---699,874.00 (9.33)0.000 0.324 AA
347628 LC-PF-2 Sales Tax Revenue Bond 62956UG92 CP Nabors Industries, Inc.07/09/2014 06/18/2014 3,500,000.00 3,499,533.35 ---3,499,650.00 (116.68)0.000 0.451 AA
347625 LC-Project Fund-2 Senior Lien 62956UG92 CP Nabors Industries, Inc.07/09/2014 06/18/2014 1,500,000.00 1,499,800.01 ---1,499,850.00 (50.01)0.000 0.451 AA
347625 LC-Project Fund-2 Senior Lien 78355BG14 CP Ryder System, Inc.07/01/2014 06/02/2014 1,600,000.00 1,599,751.10 ---1,599,924.80 (75.20)0.000 1.699 AA
347625 LC-Project Fund-2 Senior Lien 78573FGN3 CP SABMiller Holdings Inc.07/22/2014 06/23/2014 1,700,000.00 1,699,716.66 ---1,699,682.10 (79.89)0.000 0.321 AA
347625 LC-Project Fund-2 Senior Lien 69430MGP5 CP Pacific Gas and Electric Company 07/23/2014 04/25/2014 1,500,000.00 1,499,110.01 ---1,499,710.50 (69.50)0.000 0.316 AA
347628 LC-PF-2 Sales Tax Revenue Bond 78573FGN3 CP SABMiller Holdings Inc.07/22/2014 06/23/2014 8,000,000.00 7,998,666.64 ---7,998,504.00 (375.98)0.000 0.321 AA
347623 LC-Sr Lien Ob Fund-1 Interest 44890NHM5 CP Hyundai Capital America 08/21/2014 06/04/2014 1,000,000.00 999,458.33 ---999,548.00 (97.83)0.000 0.319 AA
347625 LC-Project Fund-2 Senior Lien 44890NHM5 CP Hyundai Capital America 08/21/2014 06/09/2014 1,500,000.00 1,499,260.41 ---1,499,322.00 (146.75)0.000 0.319 AA
347628 LC-PF-2 Sales Tax Revenue Bond 44890NHM5 CP Hyundai Capital America 08/21/2014 06/09/2014 3,500,000.00 3,498,274.29 ---3,498,418.00 (342.41)0.000 0.319 AA
347628 LC-PF-2 Sales Tax Revenue Bond 57163UG75 CP Marriott International, Inc.07/07/2014 05/27/2014 8,000,000.00 7,997,858.88 ---7,999,304.00 (382.67)0.000 0.523 AA
347625 LC-Project Fund-2 Senior Lien 57163UG75 CP Marriott International, Inc.07/07/2014 05/27/2014 1,500,000.00 1,499,598.54 ---1,499,869.50 (71.75)0.000 0.523 AA
347625 LC-Project Fund-2 Senior Lien 6362P3HN7 CP National Grid USA Service Company, Inc.08/22/2014 06/24/2014 1,700,000.00 1,699,233.11 ---1,699,212.90 (99.54)0.000 0.321 AA
347625 LC-Project Fund-2 Senior Lien 25471KG89 CP Discovery Communications, LLC 07/08/2014 06/24/2014 1,500,000.00 1,499,870.00 ---1,499,860.50 (69.50)0.000 0.479 AA
347628 LC-PF-2 Sales Tax Revenue Bond 25471KG89 CP Discovery Communications, LLC 07/08/2014 06/24/2014 2,000,000.00 1,999,826.66 ---1,999,814.00 (92.66)0.000 0.479 AA
347623 LC-Sr Lien Ob Fund-1 Interest 88731JG94 CP Time Warner Cable Inc.07/09/2014 06/05/2014 475,000.00 474,901.04 ---474,952.50 (21.11)0.000 0.451 AA
347625 LC-Project Fund-2 Senior Lien 50104MG70 CP The Kroger Co.07/07/2014 06/02/2014 1,500,000.00 1,499,697.50 ---1,499,869.50 (75.50)0.000 0.523 AA
347628 LC-PF-2 Sales Tax Revenue Bond 50104MG70 CP The Kroger Co.07/07/2014 06/02/2014 8,000,000.00 7,998,386.64 ---7,999,304.00 (402.66)0.000 0.523 AA
347625 LC-Project Fund-2 Senior Lien 90655KGE8 CP Union Electric Company 07/14/2014 06/17/2014 1,700,000.00 1,699,692.98 ---1,699,773.90 (72.59)0.000 0.369 AA
347625 LC-Project Fund-2 Senior Lien 05634CGG5 CP Bacardi U.S.A., Inc.07/16/2014 06/24/2014 800,000.00 799,892.66 ---799,882.40 (40.93)0.000 0.353 AA
347623 LC-Sr Lien Ob Fund-1 Interest 37790BG70 CP Glencore Funding LLC 07/07/2014 06/13/2014 700,000.00 699,846.00 ---699,939.10 (22.40)0.000 0.523 AA
347625 LC-Project Fund-2 Senior Lien 2925A3GH5 CP Enbridge Energy Partners, L.P.07/17/2014 06/19/2014 1,700,000.00 1,699,706.75 ---1,699,739.90 (56.10)0.000 0.345 AA
347628 LC-PF-2 Sales Tax Revenue Bond 63946EGB4 CP Comcast Corporation 07/11/2014 06/16/2014 8,000,000.00 7,998,722.24 ---7,999,096.00 (392.90)0.000 0.407 AA
347628 LC-PF-2 Sales Tax Revenue Bond 2925A3GH5 CP Enbridge Energy Partners, L.P.07/17/2014 06/19/2014 6,500,000.00 6,498,878.75 ---6,499,005.50 (214.50)0.000 0.345 AA
347625 LC-Project Fund-2 Senior Lien 63946EGB4 CP Comcast Corporation 07/11/2014 06/16/2014 1,500,000.00 1,499,760.42 ---1,499,830.50 (73.67)0.000 0.407 AA
347628 LC-PF-2 Sales Tax Revenue Bond 84757BG73 CP SPECTRA ENERGY PARTNERS LP 07/07/2014 06/02/2014 8,000,000.00 7,998,008.88 ---7,999,304.00 (322.67)0.000 0.523 AA
347625 LC-Project Fund-2 Senior Lien 84757BG73 CP SPECTRA ENERGY PARTNERS LP 07/07/2014 06/02/2014 1,500,000.00 1,499,591.67 ---1,499,869.50 (60.50)0.000 0.523 AA
347623 LC-Sr Lien Ob Fund-1 Interest 2574P1G30 CP Dominion Resources, Inc.07/03/2014 06/06/2014 1,000,000.00 999,835.00 ---999,940.00 (47.78)0.000 1.083 AA
347625 LC-Project Fund-2 Senior Lien 2574P1G97 CP Dominion Resources, Inc.07/09/2014 06/09/2014 1,450,000.00 1,449,740.61 ---1,449,855.00 (70.89)0.000 0.451 AA
347628 LC-PF-2 Sales Tax Revenue Bond 88355MG27 CP Thermo Fisher Scientific Inc.07/02/2014 05/28/2014 4,000,000.00 3,999,133.32 ---3,999,788.00 (183.11)0.000 1.917 AA
347625 LC-Project Fund-2 Senior Lien 20279WG21 CP Commonwealth Edison Company 07/02/2014 06/16/2014 1,500,000.00 1,499,820.00 ---1,499,920.50 (68.25)0.000 1.917 AA
347628 LC-PF-2 Sales Tax Revenue Bond 20279WG21 CP Commonwealth Edison Company 07/02/2014 06/16/2014 8,000,000.00 7,999,040.00 ---7,999,576.00 (364.00)0.000 1.917 AA
347625 LC-Project Fund-2 Senior Lien 88355MG27 CP Thermo Fisher Scientific Inc.07/02/2014 05/28/2014 1,000,000.00 999,783.33 ---999,947.00 (45.78)0.000 1.917 AA
24
Page 4 of 21
Source
Account Account Identifier
Security Type
Category Issuer
Final
Maturity Trade Date
Current Face
Value Original Cost
Next Call
Date
Base Market
Value
Base Net Total
Unrealized
Gain/Loss Coupon Yield
Summarized
Credit Rating
STAMP Portfolio by Investment Category for quarter ended June 30, 2014
347625 LC-Project Fund-2 Senior Lien 27743KGA2 CP Eastman Chemical Company 07/10/2014 05/27/2014 1,500,000.00 1,499,523.33 ---1,499,839.50 (63.00)0.000 0.428 AA
347628 LC-PF-2 Sales Tax Revenue Bond 27743KH78 CP Eastman Chemical Company 08/07/2014 06/17/2014 8,000,000.00 7,996,940.00 ---7,997,528.00 (252.00)0.000 0.301 AA
347623 LC-Sr Lien Ob Fund-1 Interest 27743KH78 CP Eastman Chemical Company 08/07/2014 06/16/2014 1,200,000.00 1,199,532.00 ---1,199,629.20 (37.80)0.000 0.301 AA
347625 LC-Project Fund-2 Senior Lien 65475MGR5 CP Nissan Motor Acceptance Corporation 07/25/2014 06/17/2014 1,600,000.00 1,599,594.67 ---1,599,668.80 (75.20)0.000 0.311 AA
347628 LC-PF-2 Sales Tax Revenue Bond 42823KG22 CP Hewlett-Packard Company 07/02/2014 05/29/2014 8,000,000.00 7,998,324.48 ---7,999,576.00 (366.22)0.000 1.917 AA
347625 LC-Project Fund-2 Senior Lien 42823KG22 CP Hewlett-Packard Company 07/02/2014 05/29/2014 1,500,000.00 1,499,685.84 ---1,499,920.50 (68.67)0.000 1.917 AA
347628 LC-PF-2 Sales Tax Revenue Bond 2574P1G97 CP Dominion Resources, Inc.07/09/2014 06/09/2014 7,000,000.00 6,998,747.77 ---6,999,300.00 (342.22)0.000 0.451 AA
347628 LC-PF-2 Sales Tax Revenue Bond 60920WG12 CP Mondelez International, Inc.07/01/2014 04/01/2014 5,000,000.00 4,996,081.95 ---4,999,765.00 (235.00)0.000 1.699 AA
347625 LC-Project Fund-2 Senior Lien 0020A3GE4 CP AT&T Inc.07/14/2014 06/02/2014 1,600,000.00 1,599,608.00 ---1,599,787.20 (91.47)0.000 0.369 AA
347625 LC-Project Fund-2 Senior Lien 88731JGM5 CP Time Warner Cable Inc.07/21/2014 06/02/2014 1,600,000.00 1,599,390.22 ---1,599,712.00 (39.11)0.000 0.324 AA
347628 LC-PF-2 Sales Tax Revenue Bond 233851AG9 Corporate Daimler Finance North America LLC 09/15/2014 07/08/2013 2,400,000.00 2,428,301.60 ---2,407,440.00 2,460.86 1.875 0.384 A
347623 LC-Sr Lien Ob Fund-1 Interest 48121CJM9 Corporate JPMorgan Chase Bank, National Association 06/13/2016 07/11/2013 500,000.00 492,775.00 ---498,215.00 3,061.12 0.560 0.741 A
347628 LC-PF-2 Sales Tax Revenue Bond 94974BET3 Corporate Wells Fargo & Company 10/01/2014 07/03/2013 3,500,000.00 3,628,730.00 ---3,530,135.00 3,703.31 3.750 0.338 AA
205091001 LC-2013 A Capitalized Interest 78008K5V1 Corporate Royal Bank of Canada 04/19/2016 07/08/2013 2,000,000.00 2,099,900.00 ---2,079,200.00 13,987.32 2.875 0.661 AA
347623 LC-Sr Lien Ob Fund-1 Interest 61746BDG8 Corporate Morgan Stanley 02/25/2016 07/03/2013 500,000.00 496,725.00 ---507,100.00 9,175.53 1.750 0.882 A
205091001 LC-2013 A Capitalized Interest 89153VAC3 Corporate Total Capital International 06/28/2017 07/08/2013 160,000.00 157,765.60 ---162,291.20 3,992.86 1.550 1.063 AA
347623 LC-Sr Lien Ob Fund-1 Interest 38143USC6 Corporate The Goldman Sachs Group, Inc.02/07/2016 07/03/2013 600,000.00 627,936.00 ---625,368.00 7,855.49 3.625 0.960 A
347628 LC-PF-2 Sales Tax Revenue Bond 78387GAP8 Corporate AT&T Inc.09/15/2014 07/03/2013 6,504,000.00 6,842,273.04 ---6,560,649.84 (2,535.54)5.100 0.898 A
347623 LC-Sr Lien Ob Fund-1 Interest 78387GAP8 Corporate AT&T Inc.09/15/2014 07/03/2013 1,300,000.00 1,367,613.00 ---1,311,323.00 (506.80)5.100 0.898 A
347623 LC-Sr Lien Ob Fund-1 Interest 02580ECC5 Corporate American Express Bank, FSB.09/13/2017 07/08/2013 250,000.00 287,890.00 ---285,700.00 6,324.58 6.000 1.422 A
347628 LC-PF-2 Sales Tax Revenue Bond 0258M0CZ0 Corporate American Express Credit Corporation 08/25/2014 07/03/2013 6,124,000.00 6,430,200.00 ---6,167,664.12 2,320.09 5.125 0.447 A
205091001 LC-2013 A Capitalized Interest 89114QAE8 Corporate The Toronto-Dominion Bank 10/19/2016 07/08/2013 750,000.00 776,452.50 ---776,235.00 7,521.44 2.375 0.838 AA
205091001 LC-2013 A Capitalized Interest 822582AC6 Corporate Shell International Finance B.V.03/22/2017 07/08/2013 400,000.00 449,936.00 ---444,480.00 7,365.57 5.200 1.053 AA
347628 LC-PF-2 Sales Tax Revenue Bond 38141GCM4 Corporate The Goldman Sachs Group, Inc.11/15/2014 07/08/2013 2,000,000.00 2,116,560.00 ---2,037,420.00 4,982.70 5.500 0.498 A
347628 LC-PF-2 Sales Tax Revenue Bond 36962GK86 Corporate General Electric Capital Corporation 09/15/2014 07/09/2013 5,000,000.00 5,243,950.00 ---5,045,850.00 2,882.34 4.750 0.341 AA
347623 LC-Sr Lien Ob Fund-1 Interest 48121CYK6 Corporate JPMorgan Chase Bank, National Association 10/01/2017 07/03/2013 300,000.00 341,424.00 ---341,241.00 8,992.64 6.000 1.642 A
347623 LC-Sr Lien Ob Fund-1 Interest 172967FD8 Corporate Citigroup Inc.05/19/2015 07/03/2013 614,000.00 649,790.06 ---636,423.28 5,312.11 4.750 0.610 A
347628 LC-PF-2 Sales Tax Revenue Bond 74432QAE5 Corporate Prudential Financial, Inc.09/20/2014 07/09/2013 2,686,000.00 2,820,407.44 ---2,713,424.06 2,460.19 5.100 0.493 A
347628 LC-PF-2 Sales Tax Revenue Bond 00279VCA1 Corporate Abbey National Treasury Services PLC 11/10/2014 07/05/2013 3,000,000.00 3,105,090.00 ---3,036,840.00 8,414.84 3.875 0.466 A
205091001 LC-2013 A Capitalized Interest 44328MAL8 Corporate HSBC Bank PLC 05/24/2016 ---3,625,000.00 3,799,301.25 ---3,788,125.00 46,971.28 3.100 0.711 AA
347623 LC-Sr Lien Ob Fund-1 Interest 00279VCA1 Corporate Abbey National Treasury Services PLC 11/10/2014 07/05/2013 1,000,000.00 1,035,030.00 ---1,012,280.00 2,804.95 3.875 0.466 A
205091001 LC-2013 A Capitalized Interest 21685WBL0 Corporate Rabobank Nederland 10/13/2015 07/03/2013 1,505,000.00 1,543,467.80 ---1,538,365.85 11,414.20 2.125 0.395 AA
205091001 LC-2013 A Capitalized Interest 59217GAV1 Corporate Metropolitan Life Global Funding I 06/29/2015 07/31/2013 545,000.00 553,763.60 ---551,054.95 1,449.46 1.700 0.581 AA
347623 LC-Sr Lien Ob Fund-1 Interest 263534BX6 Corporate E. I. du Pont de Nemours and Company 03/15/2015 07/09/2013 950,000.00 1,014,068.00 ---978,462.00 1,351.60 4.750 0.506 A
205091001 LC-2013 A Capitalized Interest 21686CAD2 Corporate Rabobank Nederland 01/19/2017 ---2,000,000.00 2,103,900.00 ---2,117,920.00 41,889.48 3.375 1.029 AA
347623 LC-Sr Lien Ob Fund-1 Interest 59217GAC3 Corporate Metropolitan Life Global Funding I 09/29/2015 07/03/2013 740,000.00 766,284.80 ---758,063.40 3,279.60 2.500 0.533 AA
347623 LC-Sr Lien Ob Fund-1 Interest 928670AJ7 Corporate Volkswagen International Finance N.V.03/22/2015 07/08/2013 600,000.00 607,206.00 ---605,784.00 2,689.98 1.625 0.298 A
347628 LC-PF-2 Sales Tax Revenue Bond 020002AR2 Corporate The Allstate Corporation 08/15/2014 07/05/2013 5,870,000.00 6,141,957.10 ---5,904,456.90 3,571.70 5.000 0.297 A
205091001 LC-2013 A Capitalized Interest 90327QCW7 Corporate USAA Capital Corporation 12/13/2016 07/11/2013 4,000,000.00 4,145,440.00 ---4,123,080.00 17,880.81 2.250 0.977 AA
347623 LC-Sr Lien Ob Fund-1 Interest 89233P6J0 Corporate Toyota Motor Credit Corporation 07/17/2015 07/03/2013 800,000.00 802,344.00 ---804,720.00 3,505.29 0.875 0.310 AA
205091001 LC-2013 A Capitalized Interest 89233P6J0 Corporate Toyota Motor Credit Corporation 07/17/2015 07/03/2013 5,000,000.00 5,014,650.00 ---5,029,500.00 21,908.04 0.875 0.310 AA
347628 LC-PF-2 Sales Tax Revenue Bond 36962G4G6 Corporate General Electric Capital Corporation 11/14/2014 07/08/2013 3,000,000.00 3,118,200.00 ---3,038,970.00 6,296.63 3.750 0.256 AA
347628 LC-PF-2 Sales Tax Revenue Bond 929903AJ1 Corporate Wells Fargo & Company 08/01/2014 07/05/2013 3,911,000.00 4,091,336.21 ---3,925,822.69 193.79 5.250 0.828 A
205091001 LC-2013 A Capitalized Interest 037833AF7 Corporate Apple Inc.05/03/2016 07/31/2013 3,000,000.00 3,000,840.00 ---3,001,200.00 636.65 0.273 0.255 AA
347623 LC-Sr Lien Ob Fund-1 Interest 38144LAB6 Corporate The Goldman Sachs Group, Inc.09/01/2017 07/03/2013 300,000.00 322,515.00 ---341,538.00 23,967.29 6.250 1.740 A
347623 LC-Sr Lien Ob Fund-1 Interest 767201AM8 Corporate Rio Tinto Finance (USA) Limited 05/20/2016 07/03/2013 600,000.00 617,400.00 ---619,320.00 7,779.02 2.500 0.779 A
205091001 LC-2013 A Capitalized Interest 742718DV8 Corporate The Procter & Gamble Company 08/15/2016 07/10/2013 1,240,000.00 1,256,033.20 ---1,260,336.00 9,234.78 1.450 0.671 AA
347623 LC-Sr Lien Ob Fund-1 Interest 36962G3H5 Corporate General Electric Capital Corporation 09/15/2017 07/03/2013 300,000.00 340,212.00 ---339,609.30 8,450.88 5.625 1.401 AA
205091001 LC-2013 A Capitalized Interest 459200GX3 Corporate International Business Machines Corporation 07/22/2016 07/10/2013 465,000.00 477,936.30 ---477,192.30 3,332.64 1.950 0.667 AA
347623 LC-Sr Lien Ob Fund-1 Interest 69349LAL2 Corporate PNC Bank, National Association 04/29/2016 07/11/2013 500,000.00 499,180.00 04/29/2015 500,200.00 738.07 0.547 0.514 A
347623 LC-Sr Lien Ob Fund-1 Interest 233851AT1 Corporate Daimler Finance North America LLC 01/11/2016 07/08/2013 500,000.00 497,995.00 ---504,360.00 5,593.46 1.250 0.676 A
347623 LC-Sr Lien Ob Fund-1 Interest 05565QCC0 Corporate BP Capital Markets P.L.C.11/06/2017 07/03/2013 300,000.00 292,194.00 ---300,421.80 6,519.83 1.375 1.332 A
347623 LC-Sr Lien Ob Fund-1 Interest 94980VAF5 Corporate Wells Fargo Bank, National Association 05/16/2016 07/11/2013 1,000,000.00 988,160.00 ---997,680.00 5,516.14 0.435 0.566 A
347625 LC-Project Fund-2 Senior Lien 61747C715 MM Fund Morgan Stanley Institutional Liquidity Funds 06/30/2014 06/27/2014 0.00 106,915.31 ---106,915.31 0.00 0.040 0.040 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 61747C715 MM Fund Morgan Stanley Institutional Liquidity Funds 06/30/2014 06/27/2014 0.00 488,505.76 ---488,505.76 0.00 0.040 0.040 AAA
347621 LC-Sr Lien Reserve Fund-1 61747C715 MM Fund Morgan Stanley Institutional Liquidity Funds 06/30/2014 ---0.00 63,789.58 ---63,789.58 0.00 0.040 0.040 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 61747C715 MM Fund Morgan Stanley Institutional Liquidity Funds 06/30/2014 ---0.00 213,271.38 ---213,271.38 0.00 0.050 0.040 AAA
205091001 LC-2013 A Capitalized Interest 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 06/30/2014 ---0.00 175,273.73 ---175,273.73 0.00 0.000 0.000 NA
205091001 LC-2013 A Capitalized Interest 407288YD5 Muni Hamilton, County of 12/01/2015 07/18/2013 2,080,000.00 2,080,000.00 ---2,089,984.00 9,984.00 0.803 0.463 AA
347628 LC-PF-2 Sales Tax Revenue Bond 407288YD5 Muni Hamilton, County of 12/01/2015 07/18/2013 6,645,000.00 6,645,000.00 ---6,674,703.15 29,703.15 0.803 0.487 AA
347623 LC-Sr Lien Ob Fund-1 Interest 407288YD5 Muni Hamilton, County of 12/01/2015 07/18/2013 630,000.00 630,000.00 ---632,816.10 2,816.10 0.803 0.487 AA
205091001 LC-2013 A Capitalized Interest 235219JS2 Muni Dallas, City of 02/15/2017 07/10/2013 2,135,000.00 2,135,000.00 ---2,193,007.95 58,007.95 1.589 0.545 AA
347623 LC-Sr Lien Ob Fund-1 Interest 235219JS2 Muni Dallas, City of 02/15/2017 07/10/2013 650,000.00 650,000.00 ---660,452.00 10,452.00 1.589 0.967 AA
205091001 LC-2013 A Capitalized Interest 64966H4E7 Muni New York, City of 10/01/2017 07/12/2013 1,170,000.00 1,238,222.70 ---1,239,849.00 16,676.47 3.140 1.261 AA
347628 LC-PF-2 Sales Tax Revenue Bond 64468EAZ3 Muni Labor, New Hampshire Department of 11/01/2020 07/03/2013 3,200,000.00 3,200,000.00 07/01/2014 3,200,000.00 0.00 0.130 ---AA
205091001 LC-2013 A Capitalized Interest 184126YS3 Muni Clayton County Water Authority 05/01/2017 07/11/2013 770,000.00 755,939.80 ---777,399.70 17,999.45 1.300 0.956 AA
205091001 LC-2013 A Capitalized Interest 912828WK2 US Gov Treasury, United States Department of 01/31/2016 04/28/2014 11,500,000.00 11,496,312.05 ---11,499,770.00 3,096.05 0.070 0.072 AAA
347621 LC-Sr Lien Reserve Fund-1 912828WK2 US Gov Treasury, United States Department of 01/31/2016 02/24/2014 150,000.00 149,935.64 ---149,997.00 50.01 0.070 0.072 AAA
25
Page 5 of 21
Source
Account Account Identifier
Security Type
Category Issuer
Final
Maturity Trade Date
Current Face
Value Original Cost
Next Call
Date
Base Market
Value
Base Net Total
Unrealized
Gain/Loss Coupon Yield
Summarized
Credit Rating
STAMP Portfolio by Investment Category for quarter ended June 30, 2014
347621 LC-Sr Lien Reserve Fund-1 912828KQ2 US Gov Treasury, United States Department of 05/15/2019 07/05/2013 500,000.00 539,902.34 ---536,210.00 2,721.33 3.125 1.576 AAA
205091001 LC-2013 A Capitalized Interest 912828VG2 US Gov Treasury, United States Department of 06/15/2016 07/05/2013 5,000,000.00 4,973,632.81 ---5,006,250.00 23,868.15 0.500 0.436 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 912828RX0 US Gov Treasury, United States Department of 12/31/2016 09/13/2013 950,000.00 945,212.89 ---954,968.50 8,617.07 0.875 0.664 AAA
205091001 LC-2013 A Capitalized Interest 912828SY7 US Gov Treasury, United States Department of 05/31/2017 07/05/2013 3,900,000.00 3,828,550.78 ---3,874,104.00 27,846.30 0.625 0.856 AAA
347621 LC-Sr Lien Reserve Fund-1 912833KR0 US Gov Treasury, United States Department of 05/15/2018 07/05/2013 380,000.00 353,517.80 ---361,342.00 2,627.04 0.000 1.303 AAA
347621 LC-Sr Lien Reserve Fund-1 912828VB3 US Gov Treasury, United States Department of 05/15/2023 07/05/2013 3,500,000.00 3,253,085.94 ---3,315,158.00 40,123.75 1.750 2.415 AAA
347621 LC-Sr Lien Reserve Fund-1 912828VK3 US Gov Treasury, United States Department of 06/30/2018 07/05/2013 3,500,000.00 3,483,730.47 ---3,507,945.00 21,098.87 1.375 1.317 AAA
347621 LC-Sr Lien Reserve Fund-1 912828TJ9 US Gov Treasury, United States Department of 08/15/2022 07/05/2013 575,000.00 535,917.97 ---545,890.63 6,162.94 1.625 2.312 AAA
205091001 LC-2013 A Capitalized Interest 912828UA6 US Gov Treasury, United States Department of 11/30/2017 07/05/2013 1,750,000.00 1,700,507.81 ---1,723,207.50 11,893.19 0.625 1.082 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 912828UA6 US Gov Treasury, United States Department of 11/30/2017 07/05/2013 1,250,000.00 1,214,648.44 ---1,230,860.00 8,492.64 0.625 1.082 AAA
205091001 LC-2013 A Capitalized Interest 912828RU6 US Gov Treasury, United States Department of 11/30/2016 07/05/2013 6,900,000.00 6,893,800.78 ---6,942,573.00 46,992.93 0.875 0.617 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 64468EAY6 VRDN Labor, New Hampshire Department of 11/01/2020 11/04/2013 4,190,000.00 4,190,000.00 07/01/2014 4,190,000.00 0.00 0.130 0.130 AA
347625 LC-Project Fund-2 Senior Lien 97689RAH7 VRDN Wisconsin Housing and Economic Development Auth 04/01/2046 07/05/2013 1,805,000.00 1,805,000.00 07/01/2014 1,805,000.00 0.00 0.110 0.110 AAA
376,978,453.70 382,298,359.22 380,540,742.54 986,839.91
26
Page 6 of 21
Source
Account Account Identifier
Security Type
Category Issuer
Final
Maturity Trade Date
Current Face
Value Original Cost
Next Call
Date
Base Market
Value
Base Net Total
Unrealized
Gain/Loss Coupon Yield
Summarized
Credit Rating
347621 LC-Sr Lien Reserve Fund-1 3137EACA5 Agency Federal Home Loan Mortgage Corporation 03/27/2019 07/05/2013 800,000.00 875,900.00 ---879,208.00 15,708.17 3.750 1.574 AAA
347621 LC-Sr Lien Reserve Fund-1 3137EADB2 Agency Federal Home Loan Mortgage Corporation 01/13/2022 07/05/2013 550,000.00 529,303.50 ---548,916.50 17,475.63 2.375 2.404 AAA
347621 LC-Sr Lien Reserve Fund-1 3136G1QA0 Agency Federal National Mortgage Association 08/01/2018 04/23/2014 200,000.00 200,376.00 08/01/2014 200,140.00 22.26 1.060 0.246 AAA
347621 LC-Sr Lien Reserve Fund-1 3135G0JA2 Agency Federal National Mortgage Association 04/27/2017 ---575,000.00 574,886.75 ---577,898.00 2,865.14 1.125 0.944 AAA
347621 LC-Sr Lien Reserve Fund-1 313381H24 Agency Federal Home Loan Banks Office of Finance 01/16/2015 ---780,000.00 780,471.80 ---780,561.60 316.00 0.250 0.118 AAA
347621 LC-Sr Lien Reserve Fund-1 38376LE39 Agency CMO The Government National Mortgage Association Guara 12/20/2038 07/08/2013 28,880.12 29,250.14 ---29,385.06 329.21 4.000 -1.667 AAA
347621 LC-Sr Lien Reserve Fund-1 31395EZP5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2019 07/09/2013 171,327.31 181,258.93 ---181,749.15 1,718.60 4.500 0.814 AAA
347621 LC-Sr Lien Reserve Fund-1 38377UN20 Agency CMO The Government National Mortgage Association Guara 01/20/2040 ---438,704.87 450,062.07 ---450,888.15 1,909.35 3.000 1.063 AAA
347621 LC-Sr Lien Reserve Fund-1 31398VWC6 Agency CMO Federal Home Loan Mortgage Corporation 06/15/2028 07/08/2013 156,938.70 160,764.08 ---158,389.44 (179.35)7.000 3.105 AAA
347621 LC-Sr Lien Reserve Fund-1 3137AEV77 Agency CMO Federal Home Loan Mortgage Corporation 05/25/2018 07/03/2013 251,000.00 258,314.30 ---261,578.90 4,789.68 2.699 1.518 AAA
347621 LC-Sr Lien Reserve Fund-1 31392JJ83 Agency CMO Federal National Mortgage Association 03/25/2018 07/08/2013 49,595.40 52,323.14 ---52,356.52 560.23 5.000 0.723 AAA
347621 LC-Sr Lien Reserve Fund-1 38377RVK8 Agency CMO The Government National Mortgage Association Guara 04/20/2039 07/03/2013 148,556.27 152,084.47 ---153,447.18 1,658.99 3.000 1.904 AAA
347621 LC-Sr Lien Reserve Fund-1 3137ASNH3 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2021 07/03/2013 445,693.79 435,543.81 ---442,734.82 5,901.08 1.459 1.612 AAA
347621 LC-Sr Lien Reserve Fund-1 31397QUQ9 Agency CMO Federal National Mortgage Association 06/25/2020 12/31/2013 183,975.61 195,415.59 ---189,897.60 (4,265.07)2.750 0.680 AAA
347621 LC-Sr Lien Reserve Fund-1 31395K5G4 Agency CMO Federal Home Loan Mortgage Corporation 05/15/2033 07/08/2013 16,933.05 17,176.46 ---16,994.19 1.63 5.000 1.726 AAA
347621 LC-Sr Lien Reserve Fund-1 38377JZ89 Agency CMO The Government National Mortgage Association Guara 10/20/2039 07/05/2013 225,195.92 232,083.74 ---237,081.08 5,326.01 3.500 1.739 AAA
347621 LC-Sr Lien Reserve Fund-1 3137AQT24 Agency CMO Federal Home Loan Mortgage Corporation 01/25/2019 10/21/2013 170,000.00 171,195.31 ---172,604.23 1,591.96 2.130 1.751 AAA
347621 LC-Sr Lien Reserve Fund-1 3136A7MJ8 Agency CMO Federal National Mortgage Association 12/25/2019 08/20/2013 175,000.00 172,402.34 ---176,080.10 3,212.09 1.520 1.310 AAA
347621 LC-Sr Lien Reserve Fund-1 38378TAF7 Agency CMO The Government National Mortgage Association Guara 07/20/2041 07/05/2013 280,264.53 280,306.78 ---282,056.54 1,816.38 2.500 2.329 AAA
347621 LC-Sr Lien Reserve Fund-1 3137AUPE3 Agency CMO Federal Home Loan Mortgage Corporation 06/25/2022 07/03/2013 235,000.00 220,358.40 ---231,676.16 9,935.70 2.396 2.586 AAA
347621 LC-Sr Lien Reserve Fund-1 3137B03W2 Agency CMO Federal Home Loan Mortgage Corporation 08/25/2017 07/31/2013 45,000.00 44,964.84 ---45,380.16 417.47 1.426 1.080 AAA
347621 LC-Sr Lien Reserve Fund-1 3137A7E22 Agency CMO Federal Home Loan Mortgage Corporation 04/15/2028 07/08/2013 357,502.87 370,127.18 ---370,968.22 2,776.24 3.500 1.412 AAA
347621 LC-Sr Lien Reserve Fund-1 3136A72D3 Agency CMO Federal National Mortgage Association 04/25/2022 07/03/2013 395,000.00 375,250.00 ---391,385.36 14,244.22 2.482 2.604 AAA
347621 LC-Sr Lien Reserve Fund-1 38378CRT6 Agency CMO The Government National Mortgage Association Guara 10/20/2040 05/22/2014 148,031.25 142,942.67 ---144,290.79 1,374.46 2.000 2.567 AAA
347621 LC-Sr Lien Reserve Fund-1 38377DPX8 Agency CMO The Government National Mortgage Association Guara 11/20/2036 12/31/2013 75,100.62 78,729.70 ---76,598.58 (1,561.85)2.500 0.719 AAA
347621 LC-Sr Lien Reserve Fund-1 31394DVM9 Agency CMO Federal National Mortgage Association 02/25/2034 06/19/2014 261,528.75 276,525.79 ---276,391.43 (471.54)5.000 1.343 AAA
347621 LC-Sr Lien Reserve Fund-1 3128MMAK9 Agency MBS Federal Home Loan Mortgage Corporation 09/01/2019 07/08/2013 229,943.58 244,458.76 ---244,170.19 1,175.18 5.000 1.442 AAA
347621 LC-Sr Lien Reserve Fund-1 3137B6ZL8 Agency MBS Federal Home Loan Mortgage Corporation 12/25/2019 01/07/2014 57,805.13 58,960.58 ---59,123.26 265.51 2.075 1.259 AAA
347621 LC-Sr Lien Reserve Fund-1 3136A4M48 Agency MBS Federal National Mortgage Association 01/25/2022 07/05/2013 422,066.01 423,253.07 ---427,806.95 4,806.57 2.098 1.722 AAA
347621 LC-Sr Lien Reserve Fund-1 31417YKF3 Agency MBS Federal National Mortgage Association 01/01/2030 07/10/2013 207,376.38 218,782.08 ---226,005.00 7,093.22 4.500 1.823 AAA
347621 LC-Sr Lien Reserve Fund-1 3137A7JU5 Agency MBS Federal Home Loan Mortgage Corporation 11/25/2017 07/03/2013 325,000.00 351,203.13 ---350,643.80 5,507.18 3.882 1.330 AAA
347621 LC-Sr Lien Reserve Fund-1 31404WTT3 Agency MBS Federal National Mortgage Association 05/01/2019 12/31/2013 135,141.24 150,647.67 ---143,530.81 (5,592.21)4.500 0.791 AAA
347621 LC-Sr Lien Reserve Fund-1 31294KZL2 Agency MBS Federal Home Loan Mortgage Corporation 05/01/2019 01/06/2014 71,351.44 77,576.07 ---75,803.05 (1,160.99)4.000 0.476 AAA
347621 LC-Sr Lien Reserve Fund-1 3136AEYG6 Agency MBS Federal National Mortgage Association 06/25/2018 11/20/2013 170,000.00 171,341.41 ---172,015.35 880.99 1.825 1.481 AAA
347621 LC-Sr Lien Reserve Fund-1 31416YXJ2 Agency MBS Federal National Mortgage Association 08/01/2026 07/03/2013 78,367.70 82,053.42 ---83,154.40 1,304.45 3.500 1.705 AAA
347621 LC-Sr Lien Reserve Fund-1 3138EJ6V5 Agency MBS Federal National Mortgage Association 09/01/2026 11/18/2013 170,841.82 181,385.97 ---183,036.34 2,105.27 4.000 1.683 AAA
347621 LC-Sr Lien Reserve Fund-1 31385XBG1 Agency MBS Federal National Mortgage Association 03/01/2018 09/13/2013 37,965.17 40,432.90 ---39,867.22 (123.37)6.000 1.450 AAA
347621 LC-Sr Lien Reserve Fund-1 31418AFW3 Agency MBS Federal National Mortgage Association 06/01/2022 07/10/2013 316,305.20 326,683.96 ---330,807.79 5,118.27 3.000 1.140 AAA
347621 LC-Sr Lien Reserve Fund-1 61747C715 MM Fund Morgan Stanley Institutional Liquidity Funds 06/30/2014 ---0.00 63,789.58 ---63,789.58 0.00 0.040 0.040 AAA
347621 LC-Sr Lien Reserve Fund-1 912828WK2 US Gov Treasury, United States Department of 01/31/2016 02/24/2014 150,000.00 149,935.64 ---149,997.00 50.01 0.070 0.072 AAA
347621 LC-Sr Lien Reserve Fund-1 912828KQ2 US Gov Treasury, United States Department of 05/15/2019 07/05/2013 500,000.00 539,902.34 ---536,210.00 2,721.33 3.125 1.576 AAA
347621 LC-Sr Lien Reserve Fund-1 912833KR0 US Gov Treasury, United States Department of 05/15/2018 07/05/2013 380,000.00 353,517.80 ---361,342.00 2,627.04 0.000 1.303 AAA
347621 LC-Sr Lien Reserve Fund-1 912828VB3 US Gov Treasury, United States Department of 05/15/2023 07/05/2013 3,500,000.00 3,253,085.94 ---3,315,158.00 40,123.75 1.750 2.415 AAA
347621 LC-Sr Lien Reserve Fund-1 912828VK3 US Gov Treasury, United States Department of 06/30/2018 07/05/2013 3,500,000.00 3,483,730.47 ---3,507,945.00 21,098.87 1.375 1.317 AAA
347621 LC-Sr Lien Reserve Fund-1 912828TJ9 US Gov Treasury, United States Department of 08/15/2022 07/05/2013 575,000.00 535,917.97 ---545,890.63 6,162.94 1.625 2.312 AAA
18,144,954.10
347623 LC-Sr Lien Ob Fund-1 Interest 3137ASNH3 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2021 08/15/2013 445,693.79 433,994.32 ---442,734.82 7,429.77 1.459 1.612 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 3137ANLP8 Agency CMO Federal Home Loan Mortgage Corporation 11/25/2016 07/09/2013 930,000.00 939,227.34 ---945,530.07 9,413.24 1.655 0.838 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 31393V2T7 Agency CMO Federal Home Loan Mortgage Corporation 06/15/2018 07/08/2013 336,544.09 355,947.96 ---353,535.86 721.24 4.500 0.830 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 31393EXC8 Agency CMO Federal National Mortgage Association 09/25/2018 07/24/2013 63,894.70 67,548.68 ---67,207.32 219.17 4.500 0.859 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 3136A4M89 Agency CMO Federal National Mortgage Association 01/25/2019 07/05/2013 200,154.00 201,428.42 ---203,174.53 2,009.07 1.934 1.434 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 3136A8G38 Agency CMO Federal National Mortgage Association 08/25/2017 07/08/2013 883,155.14 870,114.80 ---888,182.94 15,518.74 1.246 1.019 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 31385JLF3 Agency MBS Federal National Mortgage Association 08/01/2017 09/18/2013 303,958.75 324,475.97 ---318,804.10 (2,463.74)6.000 1.553 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 31402RBG3 Agency MBS Federal National Mortgage Association 09/01/2019 ---147,412.89 158,122.11 ---155,345.18 (992.94)6.000 1.591 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 47787BAC9 Asset Backed John Deere Owner Trust 2012 03/15/2016 07/05/2013 351,030.38 351,359.47 ---351,473.73 289.32 0.750 0.391 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 36162WAC1 Asset Backed GE Equipment Transportation LLC, Series 2013-1 11/25/2016 07/09/2013 925,000.00 921,964.84 ---926,674.25 3,186.63 0.690 ---AAA
347623 LC-Sr Lien Ob Fund-1 Interest 60920WGM6 CP Mondelez International, Inc.07/21/2014 06/05/2014 700,000.00 699,755.00 ---699,874.00 (9.33)0.000 0.324 AA
347623 LC-Sr Lien Ob Fund-1 Interest 44890NHM5 CP Hyundai Capital America 08/21/2014 06/04/2014 1,000,000.00 999,458.33 ---999,548.00 (97.83)0.000 0.319 AA
347623 LC-Sr Lien Ob Fund-1 Interest 88731JG94 CP Time Warner Cable Inc.07/09/2014 06/05/2014 475,000.00 474,901.04 ---474,952.50 (21.11)0.000 0.451 AA
347623 LC-Sr Lien Ob Fund-1 Interest 37790BG70 CP Glencore Funding LLC 07/07/2014 06/13/2014 700,000.00 699,846.00 ---699,939.10 (22.40)0.000 0.523 AA
347623 LC-Sr Lien Ob Fund-1 Interest 2574P1G30 CP Dominion Resources, Inc.07/03/2014 06/06/2014 1,000,000.00 999,835.00 ---999,940.00 (47.78)0.000 1.083 AA
347623 LC-Sr Lien Ob Fund-1 Interest 27743KH78 CP Eastman Chemical Company 08/07/2014 06/16/2014 1,200,000.00 1,199,532.00 ---1,199,629.20 (37.80)0.000 0.301 AA
347623 LC-Sr Lien Ob Fund-1 Interest 48121CJM9 Corporate JPMorgan Chase Bank, National Association 06/13/2016 07/11/2013 500,000.00 492,775.00 ---498,215.00 3,061.12 0.560 0.741 A
347623 LC-Sr Lien Ob Fund-1 Interest 61746BDG8 Corporate Morgan Stanley 02/25/2016 07/03/2013 500,000.00 496,725.00 ---507,100.00 9,175.53 1.750 0.882 A
347623 LC-Sr Lien Ob Fund-1 Interest 38143USC6 Corporate The Goldman Sachs Group, Inc.02/07/2016 07/03/2013 600,000.00 627,936.00 ---625,368.00 7,855.49 3.625 0.960 A
347623 LC-Sr Lien Ob Fund-1 Interest 78387GAP8 Corporate AT&T Inc.09/15/2014 07/03/2013 1,300,000.00 1,367,613.00 ---1,311,323.00 (506.80)5.100 0.898 A
347623 LC-Sr Lien Ob Fund-1 Interest 02580ECC5 Corporate American Express Bank, FSB.09/13/2017 07/08/2013 250,000.00 287,890.00 ---285,700.00 6,324.58 6.000 1.422 A
347623 LC-Sr Lien Ob Fund-1 Interest 48121CYK6 Corporate JPMorgan Chase Bank, National Association 10/01/2017 07/03/2013 300,000.00 341,424.00 ---341,241.00 8,992.64 6.000 1.642 A
347623 LC-Sr Lien Ob Fund-1 Interest 172967FD8 Corporate Citigroup Inc.05/19/2015 07/03/2013 614,000.00 649,790.06 ---636,423.28 5,312.11 4.750 0.610 A
347623 LC-Sr Lien Ob Fund-1 Interest 00279VCA1 Corporate Abbey National Treasury Services PLC 11/10/2014 07/05/2013 1,000,000.00 1,035,030.00 ---1,012,280.00 2,804.95 3.875 0.466 A
STAMP Portfolio by Account for quarter ended June 30, 2014
ATTACHMENT 3
27
Page 7 of 21
Source
Account Account Identifier
Security Type
Category Issuer
Final
Maturity Trade Date
Current Face
Value Original Cost
Next Call
Date
Base Market
Value
Base Net Total
Unrealized
Gain/Loss Coupon Yield
Summarized
Credit Rating
STAMP Portfolio by Account for quarter ended June 30, 2014
347623 LC-Sr Lien Ob Fund-1 Interest 263534BX6 Corporate E. I. du Pont de Nemours and Company 03/15/2015 07/09/2013 950,000.00 1,014,068.00 ---978,462.00 1,351.60 4.750 0.506 A
347623 LC-Sr Lien Ob Fund-1 Interest 59217GAC3 Corporate Metropolitan Life Global Funding I 09/29/2015 07/03/2013 740,000.00 766,284.80 ---758,063.40 3,279.60 2.500 0.533 AA
347623 LC-Sr Lien Ob Fund-1 Interest 928670AJ7 Corporate Volkswagen International Finance N.V.03/22/2015 07/08/2013 600,000.00 607,206.00 ---605,784.00 2,689.98 1.625 0.298 A
347623 LC-Sr Lien Ob Fund-1 Interest 89233P6J0 Corporate Toyota Motor Credit Corporation 07/17/2015 07/03/2013 800,000.00 802,344.00 ---804,720.00 3,505.29 0.875 0.310 AA
347623 LC-Sr Lien Ob Fund-1 Interest 38144LAB6 Corporate The Goldman Sachs Group, Inc.09/01/2017 07/03/2013 300,000.00 322,515.00 ---341,538.00 23,967.29 6.250 1.740 A
347623 LC-Sr Lien Ob Fund-1 Interest 767201AM8 Corporate Rio Tinto Finance (USA) Limited 05/20/2016 07/03/2013 600,000.00 617,400.00 ---619,320.00 7,779.02 2.500 0.779 A
347623 LC-Sr Lien Ob Fund-1 Interest 36962G3H5 Corporate General Electric Capital Corporation 09/15/2017 07/03/2013 300,000.00 340,212.00 ---339,609.30 8,450.88 5.625 1.401 AA
347623 LC-Sr Lien Ob Fund-1 Interest 69349LAL2 Corporate PNC Bank, National Association 04/29/2016 07/11/2013 500,000.00 499,180.00 04/29/2015 500,200.00 738.07 0.547 0.514 A
347623 LC-Sr Lien Ob Fund-1 Interest 233851AT1 Corporate Daimler Finance North America LLC 01/11/2016 07/08/2013 500,000.00 497,995.00 ---504,360.00 5,593.46 1.250 0.676 A
347623 LC-Sr Lien Ob Fund-1 Interest 05565QCC0 Corporate BP Capital Markets P.L.C.11/06/2017 07/03/2013 300,000.00 292,194.00 ---300,421.80 6,519.83 1.375 1.332 A
347623 LC-Sr Lien Ob Fund-1 Interest 94980VAF5 Corporate Wells Fargo Bank, National Association 05/16/2016 07/11/2013 1,000,000.00 988,160.00 ---997,680.00 5,516.14 0.435 0.566 A
347623 LC-Sr Lien Ob Fund-1 Interest 61747C715 MM Fund Morgan Stanley Institutional Liquidity Funds 06/30/2014 ---0.00 213,271.38 ---213,271.38 0.00 0.050 0.040 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 407288YD5 Muni Hamilton, County of 12/01/2015 07/18/2013 630,000.00 630,000.00 ---632,816.10 2,816.10 0.803 0.487 AA
347623 LC-Sr Lien Ob Fund-1 Interest 235219JS2 Muni Dallas, City of 02/15/2017 07/10/2013 650,000.00 650,000.00 ---660,452.00 10,452.00 1.589 0.967 AA
347623 LC-Sr Lien Ob Fund-1 Interest 912828RX0 US Gov Treasury, United States Department of 12/31/2016 09/13/2013 950,000.00 945,212.89 ---954,968.50 8,617.07 0.875 0.664 AAA
347623 LC-Sr Lien Ob Fund-1 Interest 912828UA6 US Gov Treasury, United States Department of 11/30/2017 07/05/2013 1,250,000.00 1,214,648.44 ---1,230,860.00 8,492.64 0.625 1.082 AAA
25,386,722.36
347625 LC-Project Fund-2 Senior Lien 36162DAC3 Asset Backed GE EQUIP SMALL TICKET LLC SER2011-2 06/22/2015 02/06/2014 227,679.57 228,293.23 ---227,941.40 (28.69)1.370 0.405 AAA
347625 LC-Project Fund-2 Senior Lien 17308BAN8 Asset Backed Citibank Omni-S Master Trust 11/15/2018 02/19/2014 1,350,000.00 1,393,189.45 ---1,372,512.60 318.34 4.900 0.443 AAA
347625 LC-Project Fund-2 Senior Lien 02582JFV7 Asset Backed American Express Credit Account Master Trust 03/15/2017 01/07/2014 1,000,000.00 1,006,992.19 ---1,001,520.00 70.01 1.402 0.214 AAA
347625 LC-Project Fund-2 Senior Lien 92867KAC8 Asset Backed Volkswagen Auto Lease Trust 2012-A 07/20/2015 01/17/2014 275,844.37 276,577.08 ---276,126.84 (127.32)0.870 0.487 AAA
347625 LC-Project Fund-2 Senior Lien 89236QAC5 Asset Backed Toyota Auto Receivables 2011-B Owner Trust 06/15/2015 01/14/2014 186,106.93 186,354.10 ---186,199.61 (8.28)0.680 0.267 AAA
347625 LC-Project Fund-2 Senior Lien 36159LBN5 Asset Backed GE Dealer Floorplan Master Not 07/20/2016 01/07/2014 2,000,000.00 2,004,062.50 ---2,000,438.00 14.82 0.753 0.377 AAA
347625 LC-Project Fund-2 Senior Lien 36162NAC1 Asset Backed GE Equipment Transportation LLC, Series 2012-1 11/23/2015 02/13/2014 237,868.84 238,389.17 ---238,133.82 (59.57)0.990 ---AAA
347625 LC-Project Fund-2 Senior Lien 89231NAC7 Asset Backed Toyota Auto Receivables 2012-B Owner Trust 07/15/2016 ---994,093.36 994,676.47 ---994,575.50 53.60 0.460 0.374 AAA
347625 LC-Project Fund-2 Senior Lien 92867KAD6 Asset Backed Volkswagen Auto Lease Trust 2012-A 05/22/2017 02/19/2014 1,300,000.00 1,306,296.88 ---1,302,583.10 (1,279.50)1.060 0.706 AAA
347625 LC-Project Fund-2 Senior Lien 55314QAC1 Asset Backed MMAF EQUIP FIN LLC 2012-A 08/10/2016 01/16/2014 615,665.69 617,108.65 ---616,973.98 437.21 0.940 0.421 AAA
347625 LC-Project Fund-2 Senior Lien 17181BG79 CP Cigna Corporation 07/07/2014 05/06/2014 1,500,000.00 1,499,262.92 ---1,499,911.50 (16.00)0.000 0.354 AA
347625 LC-Project Fund-2 Senior Lien 26244JGE3 CP Duke Energy Corporation 07/14/2014 06/10/2014 1,500,000.00 1,499,733.33 ---1,499,800.50 (91.17)0.000 0.369 AA
347625 LC-Project Fund-2 Senior Lien 62956UG92 CP Nabors Industries, Inc.07/09/2014 06/18/2014 1,500,000.00 1,499,800.01 ---1,499,850.00 (50.01)0.000 0.451 AA
347625 LC-Project Fund-2 Senior Lien 78355BG14 CP Ryder System, Inc.07/01/2014 06/02/2014 1,600,000.00 1,599,751.10 ---1,599,924.80 (75.20)0.000 1.699 AA
347625 LC-Project Fund-2 Senior Lien 78573FGN3 CP SABMiller Holdings Inc.07/22/2014 06/23/2014 1,700,000.00 1,699,716.66 ---1,699,682.10 (79.89)0.000 0.321 AA
347625 LC-Project Fund-2 Senior Lien 69430MGP5 CP Pacific Gas and Electric Company 07/23/2014 04/25/2014 1,500,000.00 1,499,110.01 ---1,499,710.50 (69.50)0.000 0.316 AA
347625 LC-Project Fund-2 Senior Lien 44890NHM5 CP Hyundai Capital America 08/21/2014 06/09/2014 1,500,000.00 1,499,260.41 ---1,499,322.00 (146.75)0.000 0.319 AA
347625 LC-Project Fund-2 Senior Lien 57163UG75 CP Marriott International, Inc.07/07/2014 05/27/2014 1,500,000.00 1,499,598.54 ---1,499,869.50 (71.75)0.000 0.523 AA
347625 LC-Project Fund-2 Senior Lien 6362P3HN7 CP National Grid USA Service Company, Inc.08/22/2014 06/24/2014 1,700,000.00 1,699,233.11 ---1,699,212.90 (99.54)0.000 0.321 AA
347625 LC-Project Fund-2 Senior Lien 25471KG89 CP Discovery Communications, LLC 07/08/2014 06/24/2014 1,500,000.00 1,499,870.00 ---1,499,860.50 (69.50)0.000 0.479 AA
347625 LC-Project Fund-2 Senior Lien 50104MG70 CP The Kroger Co.07/07/2014 06/02/2014 1,500,000.00 1,499,697.50 ---1,499,869.50 (75.50)0.000 0.523 AA
347625 LC-Project Fund-2 Senior Lien 90655KGE8 CP Union Electric Company 07/14/2014 06/17/2014 1,700,000.00 1,699,692.98 ---1,699,773.90 (72.59)0.000 0.369 AA
347625 LC-Project Fund-2 Senior Lien 05634CGG5 CP Bacardi U.S.A., Inc.07/16/2014 06/24/2014 800,000.00 799,892.66 ---799,882.40 (40.93)0.000 0.353 AA
347625 LC-Project Fund-2 Senior Lien 2925A3GH5 CP Enbridge Energy Partners, L.P.07/17/2014 06/19/2014 1,700,000.00 1,699,706.75 ---1,699,739.90 (56.10)0.000 0.345 AA
347625 LC-Project Fund-2 Senior Lien 63946EGB4 CP Comcast Corporation 07/11/2014 06/16/2014 1,500,000.00 1,499,760.42 ---1,499,830.50 (73.67)0.000 0.407 AA
347625 LC-Project Fund-2 Senior Lien 84757BG73 CP SPECTRA ENERGY PARTNERS LP 07/07/2014 06/02/2014 1,500,000.00 1,499,591.67 ---1,499,869.50 (60.50)0.000 0.523 AA
347625 LC-Project Fund-2 Senior Lien 2574P1G97 CP Dominion Resources, Inc.07/09/2014 06/09/2014 1,450,000.00 1,449,740.61 ---1,449,855.00 (70.89)0.000 0.451 AA
347625 LC-Project Fund-2 Senior Lien 20279WG21 CP Commonwealth Edison Company 07/02/2014 06/16/2014 1,500,000.00 1,499,820.00 ---1,499,920.50 (68.25)0.000 1.917 AA
347625 LC-Project Fund-2 Senior Lien 88355MG27 CP Thermo Fisher Scientific Inc.07/02/2014 05/28/2014 1,000,000.00 999,783.33 ---999,947.00 (45.78)0.000 1.917 AA
347625 LC-Project Fund-2 Senior Lien 27743KGA2 CP Eastman Chemical Company 07/10/2014 05/27/2014 1,500,000.00 1,499,523.33 ---1,499,839.50 (63.00)0.000 0.428 AA
347625 LC-Project Fund-2 Senior Lien 65475MGR5 CP Nissan Motor Acceptance Corporation 07/25/2014 06/17/2014 1,600,000.00 1,599,594.67 ---1,599,668.80 (75.20)0.000 0.311 AA
347625 LC-Project Fund-2 Senior Lien 42823KG22 CP Hewlett-Packard Company 07/02/2014 05/29/2014 1,500,000.00 1,499,685.84 ---1,499,920.50 (68.67)0.000 1.917 AA
347625 LC-Project Fund-2 Senior Lien 0020A3GE4 CP AT&T Inc.07/14/2014 06/02/2014 1,600,000.00 1,599,608.00 ---1,599,787.20 (91.47)0.000 0.369 AA
347625 LC-Project Fund-2 Senior Lien 88731JGM5 CP Time Warner Cable Inc.07/21/2014 06/02/2014 1,600,000.00 1,599,390.22 ---1,599,712.00 (39.11)0.000 0.324 AA
347625 LC-Project Fund-2 Senior Lien 61747C715 MM Fund Morgan Stanley Institutional Liquidity Funds 06/30/2014 06/27/2014 0.00 106,915.31 ---106,915.31 0.00 0.040 0.040 AAA
347625 LC-Project Fund-2 Senior Lien 97689RAH7 VRDN Wisconsin Housing and Economic Development Author 04/01/2046 07/05/2013 1,805,000.00 1,805,000.00 07/01/2014 1,805,000.00 0.00 0.110 0.110 AAA
46,073,680.66
347628 LC-PF-2 Sales Tax Revenue Bond 31395MLT4 Agency CMO Federal Home Loan Mortgage Corporation 06/15/2019 07/15/2013 48,782.70 49,575.42 ---48,826.95 (81.12)4.500 -0.003 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 3133XCQE6 Agency CMO Federal Home Loan Banks Office of Finance 07/28/2015 08/13/2013 146,497.98 154,189.12 ---152,715.50 1,005.63 5.250 0.725 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 17308BAN8 Asset Backed Citibank Omni-S Master Trust 11/15/2018 ---7,650,000.00 8,013,333.99 ---7,777,571.40 7,179.51 4.900 0.443 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 89236QAC5 Asset Backed Toyota Auto Receivables 2011-B Owner Trust 06/15/2015 01/14/2014 583,864.88 584,640.32 ---584,155.64 (25.97)0.680 0.267 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 02582JFY1 Asset Backed American Express Credit Account Master Trust 04/17/2017 07/05/2013 1,000,000.00 1,001,796.88 ---1,000,906.00 589.88 0.852 0.431 AA
347628 LC-PF-2 Sales Tax Revenue Bond 43812XAB1 Asset Backed Honda Auto Receivables 2013-3 Owner Trust 01/15/2016 07/17/2013 4,642,716.43 4,642,647.25 ---4,646,388.81 3,695.02 0.540 0.316 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 36159LBN5 Asset Backed GE Dealer Floorplan Master Not 07/20/2016 ---3,135,000.00 3,141,315.23 ---3,135,686.57 30.40 0.753 0.377 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 36159JCS8 Asset Backed GE Capital Credit Card Master Note Trust 01/15/2018 07/15/2013 2,295,000.00 2,304,682.03 ---2,301,834.51 3,324.32 1.030 0.480 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 89231NAC7 Asset Backed Toyota Auto Receivables 2012-B Owner Trust 07/15/2016 02/14/2014 884,091.23 884,678.32 ---884,520.01 (6.03)0.460 0.374 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 36159JBT7 Asset Backed GE Capital Credit Card Master Note Trust 11/15/2017 07/11/2013 5,000,000.00 5,209,179.69 ---5,062,870.00 4,172.98 3.800 0.444 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 17308BAL2 Asset Backed Citibank Omni-S Master Trust 08/15/2018 ---4,340,000.00 4,557,730.08 ---4,366,586.84 1,655.21 5.350 0.438 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 36162RAC2 Asset Backed GE Equipment Small Ticket, L.L.C., Series 2012-1 09/21/2015 07/10/2013 3,790,185.93 3,802,178.32 ---3,796,985.52 3,637.84 1.040 0.388 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 55314QAC1 Asset Backed MMAF EQUIP FIN LLC 2012-A 08/10/2016 ---3,409,967.03 3,418,676.91 ---3,417,213.21 3,724.75 0.940 0.421 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 55314MAC0 Asset Backed MMAF Equipment Finance LLC 2011-A 09/15/2015 07/10/2013 1,051,805.57 1,054,352.92 ---1,052,762.72 469.61 1.270 0.224 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 17181BG79 CP Cigna Corporation 07/07/2014 05/06/2014 7,000,000.00 6,996,560.27 ---6,999,587.00 (74.67)0.000 0.354 AA
28
Page 8 of 21
Source
Account Account Identifier
Security Type
Category Issuer
Final
Maturity Trade Date
Current Face
Value Original Cost
Next Call
Date
Base Market
Value
Base Net Total
Unrealized
Gain/Loss Coupon Yield
Summarized
Credit Rating
STAMP Portfolio by Account for quarter ended June 30, 2014
347628 LC-PF-2 Sales Tax Revenue Bond 26244JGE3 CP Duke Energy Corporation 07/14/2014 06/10/2014 8,000,000.00 7,998,577.76 ---7,998,936.00 (486.22)0.000 0.369 AA
347628 LC-PF-2 Sales Tax Revenue Bond 62956UG92 CP Nabors Industries, Inc.07/09/2014 06/18/2014 3,500,000.00 3,499,533.35 ---3,499,650.00 (116.68)0.000 0.451 AA
347628 LC-PF-2 Sales Tax Revenue Bond 78573FGN3 CP SABMiller Holdings Inc.07/22/2014 06/23/2014 8,000,000.00 7,998,666.64 ---7,998,504.00 (375.98)0.000 0.321 AA
347628 LC-PF-2 Sales Tax Revenue Bond 44890NHM5 CP Hyundai Capital America 08/21/2014 06/09/2014 3,500,000.00 3,498,274.29 ---3,498,418.00 (342.41)0.000 0.319 AA
347628 LC-PF-2 Sales Tax Revenue Bond 57163UG75 CP Marriott International, Inc.07/07/2014 05/27/2014 8,000,000.00 7,997,858.88 ---7,999,304.00 (382.67)0.000 0.523 AA
347628 LC-PF-2 Sales Tax Revenue Bond 25471KG89 CP Discovery Communications, LLC 07/08/2014 06/24/2014 2,000,000.00 1,999,826.66 ---1,999,814.00 (92.66)0.000 0.479 AA
347628 LC-PF-2 Sales Tax Revenue Bond 50104MG70 CP The Kroger Co.07/07/2014 06/02/2014 8,000,000.00 7,998,386.64 ---7,999,304.00 (402.66)0.000 0.523 AA
347628 LC-PF-2 Sales Tax Revenue Bond 63946EGB4 CP Comcast Corporation 07/11/2014 06/16/2014 8,000,000.00 7,998,722.24 ---7,999,096.00 (392.90)0.000 0.407 AA
347628 LC-PF-2 Sales Tax Revenue Bond 2925A3GH5 CP Enbridge Energy Partners, L.P.07/17/2014 06/19/2014 6,500,000.00 6,498,878.75 ---6,499,005.50 (214.50)0.000 0.345 AA
347628 LC-PF-2 Sales Tax Revenue Bond 84757BG73 CP SPECTRA ENERGY PARTNERS LP 07/07/2014 06/02/2014 8,000,000.00 7,998,008.88 ---7,999,304.00 (322.67)0.000 0.523 AA
347628 LC-PF-2 Sales Tax Revenue Bond 88355MG27 CP Thermo Fisher Scientific Inc.07/02/2014 05/28/2014 4,000,000.00 3,999,133.32 ---3,999,788.00 (183.11)0.000 1.917 AA
347628 LC-PF-2 Sales Tax Revenue Bond 20279WG21 CP Commonwealth Edison Company 07/02/2014 06/16/2014 8,000,000.00 7,999,040.00 ---7,999,576.00 (364.00)0.000 1.917 AA
347628 LC-PF-2 Sales Tax Revenue Bond 27743KH78 CP Eastman Chemical Company 08/07/2014 06/17/2014 8,000,000.00 7,996,940.00 ---7,997,528.00 (252.00)0.000 0.301 AA
347628 LC-PF-2 Sales Tax Revenue Bond 42823KG22 CP Hewlett-Packard Company 07/02/2014 05/29/2014 8,000,000.00 7,998,324.48 ---7,999,576.00 (366.22)0.000 1.917 AA
347628 LC-PF-2 Sales Tax Revenue Bond 2574P1G97 CP Dominion Resources, Inc.07/09/2014 06/09/2014 7,000,000.00 6,998,747.77 ---6,999,300.00 (342.22)0.000 0.451 AA
347628 LC-PF-2 Sales Tax Revenue Bond 60920WG12 CP Mondelez International, Inc.07/01/2014 04/01/2014 5,000,000.00 4,996,081.95 ---4,999,765.00 (235.00)0.000 1.699 AA
347628 LC-PF-2 Sales Tax Revenue Bond 233851AG9 Corporate Daimler Finance North America LLC 09/15/2014 07/08/2013 2,400,000.00 2,428,301.60 ---2,407,440.00 2,460.86 1.875 0.384 A
347628 LC-PF-2 Sales Tax Revenue Bond 94974BET3 Corporate Wells Fargo & Company 10/01/2014 07/03/2013 3,500,000.00 3,628,730.00 ---3,530,135.00 3,703.31 3.750 0.338 AA
347628 LC-PF-2 Sales Tax Revenue Bond 78387GAP8 Corporate AT&T Inc.09/15/2014 07/03/2013 6,504,000.00 6,842,273.04 ---6,560,649.84 (2,535.54)5.100 0.898 A
347628 LC-PF-2 Sales Tax Revenue Bond 0258M0CZ0 Corporate American Express Credit Corporation 08/25/2014 07/03/2013 6,124,000.00 6,430,200.00 ---6,167,664.12 2,320.09 5.125 0.447 A
347628 LC-PF-2 Sales Tax Revenue Bond 38141GCM4 Corporate The Goldman Sachs Group, Inc.11/15/2014 07/08/2013 2,000,000.00 2,116,560.00 ---2,037,420.00 4,982.70 5.500 0.498 A
347628 LC-PF-2 Sales Tax Revenue Bond 36962GK86 Corporate General Electric Capital Corporation 09/15/2014 07/09/2013 5,000,000.00 5,243,950.00 ---5,045,850.00 2,882.34 4.750 0.341 AA
347628 LC-PF-2 Sales Tax Revenue Bond 74432QAE5 Corporate Prudential Financial, Inc.09/20/2014 07/09/2013 2,686,000.00 2,820,407.44 ---2,713,424.06 2,460.19 5.100 0.493 A
347628 LC-PF-2 Sales Tax Revenue Bond 00279VCA1 Corporate Abbey National Treasury Services PLC 11/10/2014 07/05/2013 3,000,000.00 3,105,090.00 ---3,036,840.00 8,414.84 3.875 0.466 A
347628 LC-PF-2 Sales Tax Revenue Bond 020002AR2 Corporate The Allstate Corporation 08/15/2014 07/05/2013 5,870,000.00 6,141,957.10 ---5,904,456.90 3,571.70 5.000 0.297 A
347628 LC-PF-2 Sales Tax Revenue Bond 36962G4G6 Corporate General Electric Capital Corporation 11/14/2014 07/08/2013 3,000,000.00 3,118,200.00 ---3,038,970.00 6,296.63 3.750 0.256 AA
347628 LC-PF-2 Sales Tax Revenue Bond 929903AJ1 Corporate Wells Fargo & Company 08/01/2014 07/05/2013 3,911,000.00 4,091,336.21 ---3,925,822.69 193.79 5.250 0.828 A
347628 LC-PF-2 Sales Tax Revenue Bond 61747C715 MM Fund Morgan Stanley Institutional Liquidity Funds 06/30/2014 06/27/2014 0.00 488,505.76 ---488,505.76 0.00 0.040 0.040 AAA
347628 LC-PF-2 Sales Tax Revenue Bond 407288YD5 Muni Hamilton, County of 12/01/2015 07/18/2013 6,645,000.00 6,645,000.00 ---6,674,703.15 29,703.15 0.803 0.487 AA
347628 LC-PF-2 Sales Tax Revenue Bond 64468EAZ3 Muni Labor, New Hampshire Department of 11/01/2020 07/03/2013 3,200,000.00 3,200,000.00 07/01/2014 3,200,000.00 0.00 0.130 ---AA
347628 LC-PF-2 Sales Tax Revenue Bond 64468EAY6 VRDN Labor, New Hampshire Department of 11/01/2020 11/04/2013 4,190,000.00 4,190,000.00 07/01/2014 4,190,000.00 0.00 0.130 0.130 AA
207,637,360.71
205091001 LC-2013 A Capitalized Interest 31398AZV7 Agency Federal National Mortgage Association 11/20/2014 06/30/2014 1,100,000.00 1,110,808.60 ---1,110,681.00 (52.02)2.625 0.127 AAA
205091001 LC-2013 A Capitalized Interest 3134A4UU6 Agency Federal Home Loan Mortgage Corporation 07/15/2014 06/04/2014 200,000.00 201,124.88 ---200,380.00 (4.11)5.000 0.429 AAA
205091001 LC-2013 A Capitalized Interest 313385N51 Agency Federal Home Loan Banks Office of Finance 11/07/2014 06/13/2014 500,000.00 499,830.00 ---499,890.00 42.30 0.000 0.062 AAA
205091001 LC-2013 A Capitalized Interest 31392FPP6 Agency CMO Federal National Mortgage Association 11/25/2017 07/15/2013 307,128.40 325,268.17 ---322,884.09 1,045.63 5.000 0.705 AAA
205091001 LC-2013 A Capitalized Interest 31392HWL3 Agency CMO Federal National Mortgage Association 02/25/2018 07/12/2013 69,937.64 73,827.92 ---73,794.00 688.56 5.000 0.720 AAA
205091001 LC-2013 A Capitalized Interest 31392F6C6 Agency CMO Federal National Mortgage Association 12/25/2017 07/09/2013 468,239.97 496,700.18 ---492,752.33 1,453.88 5.000 0.709 AAA
205091001 LC-2013 A Capitalized Interest 31392BVM5 Agency CMO Federal National Mortgage Association 02/25/2017 07/11/2013 158,768.08 167,599.56 ---165,596.70 239.19 5.500 0.599 AAA
205091001 LC-2013 A Capitalized Interest 3136ACGF2 Agency CMO Federal National Mortgage Association 02/25/2016 07/15/2013 2,280,380.55 2,286,081.50 ---2,295,659.10 12,001.40 1.083 0.601 AAA
205091001 LC-2013 A Capitalized Interest 3137ANLP8 Agency CMO Federal Home Loan Mortgage Corporation 11/25/2016 07/08/2013 3,070,000.00 3,100,460.16 ---3,121,269.00 31,076.87 1.655 0.838 AAA
205091001 LC-2013 A Capitalized Interest 31393V2T7 Agency CMO Federal Home Loan Mortgage Corporation 06/15/2018 07/08/2013 1,108,053.40 1,171,939.60 ---1,163,999.02 2,375.75 4.500 0.829 AAA
205091001 LC-2013 A Capitalized Interest 31393EXC8 Agency CMO Federal National Mortgage Association 09/25/2018 07/24/2013 575,052.33 607,938.14 ---604,868.79 1,975.42 4.500 0.845 AAA
205091001 LC-2013 A Capitalized Interest 3136A4M89 Agency CMO Federal National Mortgage Association 01/25/2019 07/05/2013 651,565.16 655,713.80 ---661,397.28 6,539.52 1.934 1.434 AAA
205091001 LC-2013 A Capitalized Interest 3136A8G38 Agency CMO Federal National Mortgage Association 08/25/2017 07/08/2013 2,915,361.58 2,872,314.45 ---2,931,949.99 51,219.78 1.246 1.019 AAA
205091001 LC-2013 A Capitalized Interest 38376GWZ9 Agency MBS The Government National Mortgage Association Guara 08/16/2031 07/11/2013 2,533,732.99 2,535,514.52 ---2,543,437.19 10,260.74 1.864 0.971 AAA
205091001 LC-2013 A Capitalized Interest 3132FEAK7 Agency MBS Federal Home Loan Mortgage Corporation 12/01/2017 07/03/2013 295,914.03 313,576.40 ---314,112.74 3,363.68 5.000 0.100 AAA
205091001 LC-2013 A Capitalized Interest 31401MWC1 Agency MBS Federal National Mortgage Association 06/01/2018 07/12/2013 1,175,893.20 1,253,796.13 ---1,248,680.99 13,091.83 4.500 0.346 AAA
205091001 LC-2013 A Capitalized Interest 3128GNR59 Agency MBS Federal Home Loan Mortgage Corporation 10/01/2016 07/05/2013 404,514.39 428,532.44 ---417,709.65 (3,939.83)6.000 2.244 AAA
205091001 LC-2013 A Capitalized Interest 36200AFG9 Agency MBS Government National Mortgage Association 11/15/2017 07/09/2013 92,046.61 98,087.16 ---97,604.38 438.50 5.500 0.550 AAA
205091001 LC-2013 A Capitalized Interest 31294LPZ0 Agency MBS Federal Home Loan Mortgage Corporation 12/01/2016 07/05/2013 292,228.64 308,940.46 ---306,363.74 769.00 6.000 0.777 AAA
205091001 LC-2013 A Capitalized Interest 3128H4NR6 Agency MBS Federal Home Loan Mortgage Corporation 05/01/2018 07/16/2013 150,452.55 159,385.67 ---159,705.38 1,838.05 5.000 0.389 AAA
205091001 LC-2013 A Capitalized Interest 3128PHVS7 Agency MBS Federal Home Loan Mortgage Corporation 11/01/2019 07/16/2013 151,127.44 159,250.55 ---160,421.78 2,353.14 5.000 0.098 AAA
205091001 LC-2013 A Capitalized Interest 31402QT68 Agency MBS Federal National Mortgage Association 10/01/2019 07/11/2013 466,344.70 503,798.01 ---495,239.42 (3,202.87)6.000 1.649 AAA
205091001 LC-2013 A Capitalized Interest 3128MBTH0 Agency MBS Federal Home Loan Mortgage Corporation 03/01/2019 07/26/2013 183,178.88 194,169.61 ---194,444.38 1,640.12 5.000 0.791 AAA
205091001 LC-2013 A Capitalized Interest 31410GSQ7 Agency MBS Federal National Mortgage Association 12/01/2017 07/05/2013 253,278.06 271,957.32 ---268,745.75 586.90 6.000 0.772 AAA
205091001 LC-2013 A Capitalized Interest 3128PGLY7 Agency MBS Federal Home Loan Mortgage Corporation 05/01/2017 07/17/2013 372,991.52 393,039.82 ---395,930.50 8,005.60 5.000 -0.367 AAA
205091001 LC-2013 A Capitalized Interest 36290WH47 Agency MBS Government National Mortgage Association 09/15/2018 07/18/2013 1,565,725.88 1,663,583.76 ---1,648,850.27 (3,666.88)4.500 1.055 AAA
205091001 LC-2013 A Capitalized Interest 31402RBG3 Agency MBS Federal National Mortgage Association 09/01/2019 ---504,130.79 540,702.66 ---531,258.07 (3,367.97)6.000 1.591 AAA
205091001 LC-2013 A Capitalized Interest 78008K5V1 Corporate Royal Bank of Canada 04/19/2016 07/08/2013 2,000,000.00 2,099,900.00 ---2,079,200.00 13,987.32 2.875 0.661 AA
205091001 LC-2013 A Capitalized Interest 89153VAC3 Corporate Total Capital International 06/28/2017 07/08/2013 160,000.00 157,765.60 ---162,291.20 3,992.86 1.550 1.063 AA
205091001 LC-2013 A Capitalized Interest 89114QAE8 Corporate The Toronto-Dominion Bank 10/19/2016 07/08/2013 750,000.00 776,452.50 ---776,235.00 7,521.44 2.375 0.838 AA
205091001 LC-2013 A Capitalized Interest 822582AC6 Corporate Shell International Finance B.V.03/22/2017 07/08/2013 400,000.00 449,936.00 ---444,480.00 7,365.57 5.200 1.053 AA
205091001 LC-2013 A Capitalized Interest 44328MAL8 Corporate HSBC Bank PLC 05/24/2016 ---3,625,000.00 3,799,301.25 ---3,788,125.00 46,971.28 3.100 0.711 AA
205091001 LC-2013 A Capitalized Interest 21685WBL0 Corporate Rabobank Nederland 10/13/2015 07/03/2013 1,505,000.00 1,543,467.80 ---1,538,365.85 11,414.20 2.125 0.395 AA
205091001 LC-2013 A Capitalized Interest 59217GAV1 Corporate Metropolitan Life Global Funding I 06/29/2015 07/31/2013 545,000.00 553,763.60 ---551,054.95 1,449.46 1.700 0.581 AA
205091001 LC-2013 A Capitalized Interest 21686CAD2 Corporate Rabobank Nederland 01/19/2017 ---2,000,000.00 2,103,900.00 ---2,117,920.00 41,889.48 3.375 1.029 AA
205091001 LC-2013 A Capitalized Interest 90327QCW7 Corporate USAA Capital Corporation 12/13/2016 07/11/2013 4,000,000.00 4,145,440.00 ---4,123,080.00 17,880.81 2.250 0.977 AA
205091001 LC-2013 A Capitalized Interest 89233P6J0 Corporate Toyota Motor Credit Corporation 07/17/2015 07/03/2013 5,000,000.00 5,014,650.00 ---5,029,500.00 21,908.04 0.875 0.310 AA
205091001 LC-2013 A Capitalized Interest 037833AF7 Corporate Apple Inc.05/03/2016 07/31/2013 3,000,000.00 3,000,840.00 ---3,001,200.00 636.65 0.273 0.255 AA
29
Page 9 of 21
Source
Account Account Identifier
Security Type
Category Issuer
Final
Maturity Trade Date
Current Face
Value Original Cost
Next Call
Date
Base Market
Value
Base Net Total
Unrealized
Gain/Loss Coupon Yield
Summarized
Credit Rating
STAMP Portfolio by Account for quarter ended June 30, 2014
205091001 LC-2013 A Capitalized Interest 742718DV8 Corporate The Procter & Gamble Company 08/15/2016 07/10/2013 1,240,000.00 1,256,033.20 ---1,260,336.00 9,234.78 1.450 0.671 AA
205091001 LC-2013 A Capitalized Interest 459200GX3 Corporate International Business Machines Corporation 07/22/2016 07/10/2013 465,000.00 477,936.30 ---477,192.30 3,332.64 1.950 0.667 AA
205091001 LC-2013 A Capitalized Interest 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 06/30/2014 ---0.00 175,273.73 ---175,273.73 0.00 0.000 0.000 NA
205091001 LC-2013 A Capitalized Interest 407288YD5 Muni Hamilton, County of 12/01/2015 07/18/2013 2,080,000.00 2,080,000.00 ---2,089,984.00 9,984.00 0.803 0.463 AA
205091001 LC-2013 A Capitalized Interest 235219JS2 Muni Dallas, City of 02/15/2017 07/10/2013 2,135,000.00 2,135,000.00 ---2,193,007.95 58,007.95 1.589 0.545 AA
205091001 LC-2013 A Capitalized Interest 64966H4E7 Muni New York, City of 10/01/2017 07/12/2013 1,170,000.00 1,238,222.70 ---1,239,849.00 16,676.47 3.140 1.261 AA
205091001 LC-2013 A Capitalized Interest 184126YS3 Muni Clayton County Water Authority 05/01/2017 07/11/2013 770,000.00 755,939.80 ---777,399.70 17,999.45 1.300 0.956 AA
205091001 LC-2013 A Capitalized Interest 912828WK2 US Gov Treasury, United States Department of 01/31/2016 04/28/2014 11,500,000.00 11,496,312.05 ---11,499,770.00 3,096.05 0.070 0.072 AAA
205091001 LC-2013 A Capitalized Interest 912828VG2 US Gov Treasury, United States Department of 06/15/2016 07/05/2013 5,000,000.00 4,973,632.81 ---5,006,250.00 23,868.15 0.500 0.436 AAA
205091001 LC-2013 A Capitalized Interest 912828SY7 US Gov Treasury, United States Department of 05/31/2017 07/05/2013 3,900,000.00 3,828,550.78 ---3,874,104.00 27,846.30 0.625 0.856 AAA
205091001 LC-2013 A Capitalized Interest 912828UA6 US Gov Treasury, United States Department of 11/30/2017 07/05/2013 1,750,000.00 1,700,507.81 ---1,723,207.50 11,893.19 0.625 1.082 AAA
205091001 LC-2013 A Capitalized Interest 912828RU6 US Gov Treasury, United States Department of 11/30/2016 07/05/2013 6,900,000.00 6,893,800.78 ---6,942,573.00 46,992.93 0.875 0.617 AAA
83,298,024.71
30
Page 10 of 21
Source
Account Account Identifier Description
Beginning Base
Market Value Base Purchases Base Sales
Base Maturities
and Redemptions Base Paydowns
Net Total Realized
Gain/(Loss)
Base
Amortization/A
ccretion
Base Change In
Net Unrealized
Gain/(Loss)
Ending Base
Market Value
Ending Accrued
Income Balance
347621 LC-Sr Lien Reserve Fund-1 61747C715 MORGAN STANLEY LIQ PRIM 1,850.11 719,173.70 (657,234.23) - - - - - 63,789.58 -
347621 LC-Sr Lien Reserve Fund-1 3137EACA5 FREDDIE MAC 872,600.00 - - - - - (3,160.30) 9,768.30 879,208.00 7,833.33
347621 LC-Sr Lien Reserve Fund-1 38376LE39 GNR 2011-104 BN 43,254.12 - - - (13,368.07) (105.33) (78.60) (317.06) 29,385.06 96.27
347621 LC-Sr Lien Reserve Fund-1 31395EZP5 FHR 2835 MD 197,472.51 - - - (14,626.84) (767.23) (428.80) 99.51 181,749.15 642.48
347621 LC-Sr Lien Reserve Fund-1 912828WK2 US TREASURY FRN 149,916.00 - - - - - 8.33 72.67 149,997.00 19.00
347621 LC-Sr Lien Reserve Fund-1 912828KQ2 US TREASURY N/B 533,320.00 - - - - - (1,640.90) 4,530.90 536,210.00 1,995.58
347621 LC-Sr Lien Reserve Fund-1 31398VWC6 FHR 3653 AT 212,263.49 - - - (52,630.15) (685.06) (784.19) 225.36 158,389.44 915.48
347621 LC-Sr Lien Reserve Fund-1 3128MMAK9 FG G18009 264,138.53 - - - (19,053.45) (1,112.99) (566.93) 765.02 244,170.19 958.10
347621 LC-Sr Lien Reserve Fund-1 31417YKF3 FN MA0293 233,148.74 - - - (10,060.38) (564.06) (118.51) 3,599.21 226,005.00 777.66
347621 LC-Sr Lien Reserve Fund-1 31294KZL2 FG E01647 84,135.40 - - - (8,200.20) (668.68) (329.18) 865.71 75,803.05 237.84
347621 LC-Sr Lien Reserve Fund-1 38377RVK8 GNR 2010-166 GP 161,234.37 - - - (7,956.13) (175.54) (67.98) 412.47 153,447.18 371.39
347621 LC-Sr Lien Reserve Fund-1 3136AEYG6 FNA 2013-M9 ASQ2 170,066.81 - - - - - (84.57) 2,033.11 172,015.35 258.51
347621 LC-Sr Lien Reserve Fund-1 3137ASNH3 FHMS K019 A1 446,400.78 - - - (10,039.98) 204.33 317.03 5,852.67 442,734.82 541.89
347621 LC-Sr Lien Reserve Fund-1 31395K5G4 FHR 2898 PE 29,540.48 - - - (12,388.84) (79.55) (73.40) (4.51) 16,994.19 70.55
347621 LC-Sr Lien Reserve Fund-1 31416YXJ2 FN AB3380 85,591.07 - - - (3,191.10) (145.07) (100.57) 1,000.07 83,154.40 228.57
347621 LC-Sr Lien Reserve Fund-1 3136A7MJ8 FNA 2012-M8 ASQ2 174,570.38 - - - - - 137.41 1,372.32 176,080.10 221.73
347621 LC-Sr Lien Reserve Fund-1 3137EADB2 FREDDIE MAC 538,719.50 - - - - - 551.68 9,645.32 548,916.50 6,095.83
347621 LC-Sr Lien Reserve Fund-1 31398AXJ6 FANNIE MAE 150,441.00 - - (150,000.00) - 0.00 (438.63) (2.38) - -
347621 LC-Sr Lien Reserve Fund-1 912828VB3 US TREASURY N/B 3,242,421.00 - - - - - 5,615.82 67,121.18 3,315,158.00 7,822.69
347621 LC-Sr Lien Reserve Fund-1 3137AUPE3 FHMS K021 A2 223,558.56 - - - - - 359.66 7,757.95 231,676.16 469.22
347621 LC-Sr Lien Reserve Fund-1 38377DPX8 GNR 2010-101 NC 86,559.26 - - - (9,714.43) (425.01) (326.00) 504.76 76,598.58 156.46
347621 LC-Sr Lien Reserve Fund-1 31418AFW3 FN MA1080 346,973.52 - - - (17,689.31) (535.98) (307.59) 2,367.15 330,807.79 790.76
347621 LC-Sr Lien Reserve Fund-1 38377UN20 GNR 2011-62 PA 407,915.10 - - - (32,042.60) (524.03) (305.21) 696.87 375,740.12 913.97
347621 LC-Sr Lien Reserve Fund-1 38377UN20 GNR 2011-62 PA - 77,634.19 - - - - (24.68) (2,461.49) 75,148.02 182.79
347621 LC-Sr Lien Reserve Fund-1 3135G0KB8 FANNIE MAE 175,187.25 - - (175,000.00) - (0.00) (132.05) (55.19) - -
347621 LC-Sr Lien Reserve Fund-1 3137B6ZL8 FHMS K714 A1 60,065.80 - - - (1,315.56) (24.87) (63.69) 461.59 59,123.26 99.95
347621 LC-Sr Lien Reserve Fund-1 3137AEV77 FHMS K703 A2 260,176.56 - - - - - (391.14) 1,793.47 261,578.90 564.54
347621 LC-Sr Lien Reserve Fund-1 3136A4M48 FNA 2012-M3 1A1 433,893.07 - - - (9,784.42) (22.47) (53.46) 3,774.22 427,806.95 737.91
347621 LC-Sr Lien Reserve Fund-1 31392JJ83 FNR 2003-17 HC 59,516.10 - - - (6,621.97) (306.36) (138.85) (92.41) 52,356.52 206.65
347621 LC-Sr Lien Reserve Fund-1 3137A7JU5 FHMS K701 A2 348,283.00 - - - - - (1,558.65) 3,919.45 350,643.80 1,051.38
347621 LC-Sr Lien Reserve Fund-1 31404WTT3 FN 780962 159,202.76 - - - (15,106.75) (1,626.42) (812.96) 1,874.18 143,530.81 506.78
347621 LC-Sr Lien Reserve Fund-1 912833KR0 STRIPS 357,401.40 - - - - - 1,328.26 2,612.34 361,342.00 -
347621 LC-Sr Lien Reserve Fund-1 31397QUQ9 FNR 2011-6 BA 207,942.43 - - - (17,702.71) (1,021.52) (668.85) 1,348.24 189,897.60 421.61
347621 LC-Sr Lien Reserve Fund-1 38377JZ89 GNR 2010-117 GK 242,589.89 - - - (12,203.94) (359.34) (106.57) 7,161.03 237,081.08 656.82
347621 LC-Sr Lien Reserve Fund-1 3138EJ6V5 FN AL2683 189,749.93 - - - (8,240.37) (494.62) (205.08) 2,226.48 183,036.34 569.47
347621 LC-Sr Lien Reserve Fund-1 3137AQT24 FHMS K708 A2 170,851.87 - - - - - (66.25) 1,818.61 172,604.23 301.75
347621 LC-Sr Lien Reserve Fund-1 38378TAF7 GNR 2013-71 GA 284,883.17 - - - (4,857.29) 0.34 (8.95) 2,039.28 282,056.54 583.88
347621 LC-Sr Lien Reserve Fund-1 3136G1QA0 FANNIE MAE - 200,376.00 - - - - (258.26) 22.26 200,140.00 883.33
347621 LC-Sr Lien Reserve Fund-1 912828VK3 US TREASURY N/B 3,483,595.50 - - - - - 800.16 23,549.34 3,507,945.00 130.77
347621 LC-Sr Lien Reserve Fund-1 31385XBG1 FN 555439 45,154.83 - - - (4,939.33) (278.36) (176.17) 106.25 39,867.22 189.83
347621 LC-Sr Lien Reserve Fund-1 3137B03W2 FHMS K502 A2 45,223.56 - - - - - (0.49) 157.09 45,380.16 53.48
347621 LC-Sr Lien Reserve Fund-1 3137A7E22 FHR 3804 DA 396,758.04 - - - (25,241.74) (766.12) (425.03) 643.07 370,968.22 1,042.72
347621 LC-Sr Lien Reserve Fund-1 3135G0JA2 FANNIE MAE 125,626.25 - - - - - (69.20) 72.95 125,630.00 250.00
347621 LC-Sr Lien Reserve Fund-1 3135G0JA2 FANNIE MAE 452,254.50 - - - - - 65.70 (52.20) 452,268.00 900.00
347621 LC-Sr Lien Reserve Fund-1 912828TJ9 US TREASURY N/B 534,660.30 - - - - - 983.51 10,246.82 545,890.63 3,510.36
347621 LC-Sr Lien Reserve Fund-1 313381H24 FEDERAL HOME LOAN BANK 530,461.10 - - - - - (71.60) (7.90) 530,381.60 607.29
347621 LC-Sr Lien Reserve Fund-1 313381H24 FEDERAL HOME LOAN BANK 250,217.50 - - - - - (42.33) 4.83 250,180.00 286.46
347621 LC-Sr Lien Reserve Fund-1 3136A72D3 FNA 2012-M9 A2 378,361.81 - - - - - 492.84 12,530.71 391,385.36 816.99
347621 LC-Sr Lien Reserve Fund-1 38378CRT6 GNR 2012-13 EG - 144,668.40 - - (1,787.16) 62.04 (26.94) 1,374.46 144,290.79 246.72
347621 LC-Sr Lien Reserve Fund-1 31394DVM9 FNR 2005-43 PB - 276,525.79 - - - - 337.18 (471.54) 276,391.43 1,089.70
Subtotal - 347621 LC-Sr Lien Reserve Fund-1 17,848,147.33 1,418,378.08 (657,234.23) (325,000.00) (318,762.72) (10,421.91) (3,115.00) 192,962.54 18,144,954.10 47,308.51
347623 LC-Sr Lien Ob Fund-1 Interest 61747C715 MORGAN STANLEY LIQ PRIM 53,593.70 5,122,688.25 (4,963,010.57) - - - - - 213,271.38 -
347623 LC-Sr Lien Ob Fund-1 Interest 2574P1EC2 Dominion Resources, Inc.- 999,927.78 - (1,000,000.00) - - 72.22 - - -
347623 LC-Sr Lien Ob Fund-1 Interest 61746BDG8 MORGAN STANLEY 506,450.00 - - - - - 310.15 339.85 507,100.00 3,062.50
347623 LC-Sr Lien Ob Fund-1 Interest 19648CAC5 CO HSG & FIN-B-TXBL 930,465.00 - - (930,000.00) - - (418.18) (46.82) - -
347623 LC-Sr Lien Ob Fund-1 Interest 78387GAP8 AT&T INC 1,327,235.00 - - - - - (14,164.62) (1,747.38) 1,311,323.00 19,521.67
347623 LC-Sr Lien Ob Fund-1 Interest 02580ECC5 AMERICAN EXPRESS BK FSB 287,092.50 - - - - - (2,189.55) 797.05 285,700.00 4,500.00
347623 LC-Sr Lien Ob Fund-1 Interest 27743KF96 Eastman Chemical Company - 999,828.89 - (1,000,000.00) - - 171.11 - - -
347623 LC-Sr Lien Ob Fund-1 Interest 31385JLF3 FN 545826 364,059.97 - - - (42,461.50) (2,549.38) (1,499.49) 1,254.50 318,804.10 1,519.79
347623 LC-Sr Lien Ob Fund-1 Interest 03741PEL2 Apache Corporation - 499,978.61 - (500,000.00) - - 21.39 - - -
347623 LC-Sr Lien Ob Fund-1 Interest 2925A3F60 Enbridge Energy Partners, L.P.- 599,900.33 - (600,000.00) - - 99.67 - - -
347623 LC-Sr Lien Ob Fund-1 Interest 48121CYK6 JP MORGAN CHASE BANK N 341,736.00 - - - - - (2,367.12) 1,872.12 341,241.00 4,500.00
347623 LC-Sr Lien Ob Fund-1 Interest 01854WEK6 AllianceBernstein L.P.- 749,992.50 - (750,000.00) - - 7.50 - - -
347623 LC-Sr Lien Ob Fund-1 Interest 00279VCA1 ABBEY NATL TREASURY SER 1,020,430.00 - - - - - (6,561.23) (1,588.77) 1,012,280.00 5,489.58
347623 LC-Sr Lien Ob Fund-1 Interest 74977RBQ6 RABOBANK NEDERLAND 456,983.80 - - (455,000.00) - (0.00) (2,142.33) 158.53 - -
347623 LC-Sr Lien Ob Fund-1 Interest 263534BX6 E.I. DU PONT DE NEMOURS 987,933.50 - - - - - (9,465.44) (6.06) 978,462.00 13,286.81
347623 LC-Sr Lien Ob Fund-1 Interest 3137ASNH3 FHMS K019 A1 446,400.78 - - - (10,039.98) 239.61 373.70 5,760.72 442,734.82 541.89
347623 LC-Sr Lien Ob Fund-1 Interest 47787BAC9 JDOT 2012-A A3 505,754.00 - - - (154,020.09) (79.59) (53.87) (126.72) 351,473.73 117.01
347623 LC-Sr Lien Ob Fund-1 Interest 37790BG70 Glencore Funding LLC - 699,846.00 - - - - 115.50 (22.40) 699,939.10 -
347623 LC-Sr Lien Ob Fund-1 Interest 2574P1G30 Dominion Resources, Inc.- 999,835.00 - - - - 152.78 (47.78) 999,940.00 -
347623 LC-Sr Lien Ob Fund-1 Interest 3137ANLP8 FHMS K501 A2 944,282.01 - - - - - (801.17) 2,049.23 945,530.07 1,282.63
STAMP Portfolio Transaction Report by Account
Quarter ended June 30, 2014
ATTACHMENT 4
31
Page 11 of 21
Source
Account Account Identifier Description
Beginning Base
Market Value Base Purchases Base Sales
Base Maturities
and Redemptions Base Paydowns
Net Total Realized
Gain/(Loss)
Base
Amortization/A
ccretion
Base Change In
Net Unrealized
Gain/(Loss)
Ending Base
Market Value
Ending Accrued
Income Balance
STAMP Portfolio Transaction Report by Account
Quarter ended June 30, 2014
347623 LC-Sr Lien Ob Fund-1 Interest 13638XD80 Canadian Natural Resources Limi 874,929.13 - - (875,000.00) - - 45.94 24.94 - -
347623 LC-Sr Lien Ob Fund-1 Interest 05635NF48 Bacardi Corporation - 999,883.33 - (1,000,000.00) - - 116.67 - - -
347623 LC-Sr Lien Ob Fund-1 Interest 27743KH78 Eastman Chemical Company - 1,199,532.00 - - - - 135.00 (37.80) 1,199,629.20 -
347623 LC-Sr Lien Ob Fund-1 Interest 3136A4M89 FNA 2012-M3 2A1 205,877.83 - - - (4,423.73) (23.29) (63.84) 1,807.56 203,174.53 322.58
347623 LC-Sr Lien Ob Fund-1 Interest 3136A8G38 FNA 2012-M13 ASQ2 899,374.26 - - - (17,499.86) 219.94 642.19 5,446.41 888,182.94 917.01
347623 LC-Sr Lien Ob Fund-1 Interest 57163UFG6 Marriott International, Inc.- 999,795.56 - (1,000,000.00) - - 204.44 - - -
347623 LC-Sr Lien Ob Fund-1 Interest 2574P1FC1 Dominion Resources, Inc.- 999,822.78 - (1,000,000.00) - - 177.22 - - -
347623 LC-Sr Lien Ob Fund-1 Interest 233851AT1 DAIMLER FINANCE NA LLC 502,805.00 - - - - - 200.18 1,354.82 504,360.00 2,951.39
347623 LC-Sr Lien Ob Fund-1 Interest 94980VAF5 WELLS FARGO BANK NA 995,230.00 - - - - - 1,041.00 1,409.00 997,680.00 556.28
347623 LC-Sr Lien Ob Fund-1 Interest 48121CJM9 JP MORGAN CHASE BANK N 497,440.00 - - - - - 618.51 156.49 498,215.00 139.95
347623 LC-Sr Lien Ob Fund-1 Interest 407288YD5 HAMILTON SWR-B-REF 632,545.20 - - - - - - 270.90 632,816.10 421.58
347623 LC-Sr Lien Ob Fund-1 Interest 60920WGM6 Mondelez International, Inc.- 699,755.00 - - - - 128.33 (9.33) 699,874.00 -
347623 LC-Sr Lien Ob Fund-1 Interest 38143USC6 GOLDMAN SACHS GROUP IN 628,368.00 - - - - - (2,702.63) (297.37) 625,368.00 8,700.00
347623 LC-Sr Lien Ob Fund-1 Interest 57163UEF9 Marriott International, Inc.- 874,793.16 - (875,000.00) - - 206.84 - - -
347623 LC-Sr Lien Ob Fund-1 Interest 235219JS2 DALLAS-B-REF-TXBL 658,573.50 - - - - - - 1,878.50 660,452.00 3,901.88
347623 LC-Sr Lien Ob Fund-1 Interest 44890NHM5 Hyundai Capital America - 999,458.33 - - - - 187.50 (97.83) 999,548.00 -
347623 LC-Sr Lien Ob Fund-1 Interest 912828VG2 US TREASURY N/B 2,198,625.00 - (2,200,515.63) - - 8,947.20 302.20 (7,358.77) - -
347623 LC-Sr Lien Ob Fund-1 Interest 37790BEE7 Glencore Funding LLC - 549,839.58 - (550,000.00) - - 160.42 - - -
347623 LC-Sr Lien Ob Fund-1 Interest 172967FD8 CITIGROUP INC 641,095.82 - - - - - (4,791.99) 119.45 636,423.28 3,402.58
347623 LC-Sr Lien Ob Fund-1 Interest 912828RX0 US TREASURY N/B 952,226.80 - - - - - 361.59 2,380.11 954,968.50 22.59
347623 LC-Sr Lien Ob Fund-1 Interest 912828SY7 US TREASURY N/B 2,965,314.00 - (2,975,800.78) - - 18,974.42 1,642.39 (10,130.03) - -
347623 LC-Sr Lien Ob Fund-1 Interest 88731JG94 Time Warner Cable Inc.- 474,901.04 - - - - 72.57 (21.11) 474,952.50 -
347623 LC-Sr Lien Ob Fund-1 Interest 59217GAC3 MET LIFE GLOB FUNDING I 760,024.40 - - - - - (2,921.84) 960.84 758,063.40 4,727.78
347623 LC-Sr Lien Ob Fund-1 Interest 928670AJ7 VOLKSWAGEN INTL FIN NV 606,816.00 - - - - - (1,051.22) 19.22 605,784.00 2,681.25
347623 LC-Sr Lien Ob Fund-1 Interest 89233P6J0 TOYOTA MOTOR CREDIT CO 804,568.00 - - - - - (290.91) 442.91 804,720.00 3,188.89
347623 LC-Sr Lien Ob Fund-1 Interest 1248C3EF7 CBS Corporation - 999,902.22 - (1,000,000.00) - - 97.78 - - -
347623 LC-Sr Lien Ob Fund-1 Interest 38144LAB6 GOLDMAN SACHS GROUP IN 342,591.00 - - - - - (1,277.96) 224.96 341,538.00 6,250.00
347623 LC-Sr Lien Ob Fund-1 Interest 767201AM8 RIO TINTO FIN USA LTD 619,434.00 - - - - - (1,503.23) 1,389.23 619,320.00 1,708.33
347623 LC-Sr Lien Ob Fund-1 Interest 36962G3H5 GENERAL ELEC CAP CORP 340,383.00 - - - - - (2,316.00) 1,542.30 339,609.30 4,968.75
347623 LC-Sr Lien Ob Fund-1 Interest 31393V2T7 FHR 2627 GY 396,215.16 - - - (39,734.33) (1,992.71) (941.46) (10.80) 353,535.86 1,262.04
347623 LC-Sr Lien Ob Fund-1 Interest 31393EXC8 FNR 2003-88 TH 74,233.66 - - - (6,528.63) (328.96) (188.99) 20.25 67,207.32 239.61
347623 LC-Sr Lien Ob Fund-1 Interest 69349LAL2 PNC BANK NA 500,225.00 - - - - - 73.30 (98.30) 500,200.00 478.28
347623 LC-Sr Lien Ob Fund-1 Interest 78355BDV1 Ryder System, Inc.199,957.80 - - (200,000.00) - - 31.11 11.09 - -
347623 LC-Sr Lien Ob Fund-1 Interest 36162WAC1 GEET 2013-1 A3 925,530.95 - - - - - 390.65 752.65 926,674.25 124.10
347623 LC-Sr Lien Ob Fund-1 Interest 912828UA6 US TREASURY N/B 1,417,708.50 - (197,312.50) - - 1,848.14 2,171.87 6,443.99 1,230,860.00 661.71
347623 LC-Sr Lien Ob Fund-1 Interest 05565QCC0 BP CAPITAL MARKETS PLC 298,809.00 - - - - - 437.55 1,175.25 300,421.80 630.21
347623 LC-Sr Lien Ob Fund-1 Interest 65339NEE0 NextEra Energy Capital Holdings - 999,908.33 - (1,000,000.00) - - 91.67 - - -
347623 LC-Sr Lien Ob Fund-1 Interest 21685WCG0 RABOBANK NEDERLAND 545,070.85 - - (545,000.00) - 0.00 (86.53) 15.68 - -
347623 LC-Sr Lien Ob Fund-1 Interest 17181BEG1 Cigna Corporation - 993,887.35 - (994,000.00) - - 112.65 - - -
347623 LC-Sr Lien Ob Fund-1 Interest 31402RBG3 FN 735439 165,784.01 - - - (18,772.23) (1,192.38) (573.28) (1,117.20) 144,128.92 683.85
347623 LC-Sr Lien Ob Fund-1 Interest 31402RBG3 FN 735439 12,901.48 - - - (1,460.87) (84.54) (40.68) (99.13) 11,216.26 53.22
Subtotal - 347623 LC-Sr Lien Ob Fund-1 Interest 28,835,073.59 21,463,476.04 (10,336,639.48) (14,274,000.00) (294,941.22) 23,978.46 (47,439.96) 17,214.92 25,386,722.36 102,815.72
347625 LC-Project Fund-2 Senior Lien 61747C715 MORGAN STANLEY LIQ PRIM 466,928.41 19,412,280.55 (19,772,293.65) - - - - - 106,915.31 -
347625 LC-Project Fund-2 Senior Lien 36162DAC3 GEEST 2011-2A A3 556,082.95 - - - (327,161.67) (592.23) (436.03) 48.38 227,941.40 86.64
347625 LC-Project Fund-2 Senior Lien 50104MF22 The Kroger Co.- 1,499,816.67 - (1,500,000.00) - - 183.33 - - -
347625 LC-Project Fund-2 Senior Lien 69430ME77 Pacific Gas and Electric Company - 1,299,958.83 - (1,300,000.00) - - 41.17 - - -
347625 LC-Project Fund-2 Senior Lien 1248C3FC3 CBS Corporation - 1,499,720.00 - (1,500,000.00) - - 280.00 - - -
347625 LC-Project Fund-2 Senior Lien 1248C3DN1 CBS Corporation - 1,499,816.67 - (1,500,000.00) - - 183.33 - - -
347625 LC-Project Fund-2 Senior Lien 44890NF21 Hyundai Capital America - 1,999,700.00 - (2,000,000.00) - - 300.00 - - -
347625 LC-Project Fund-2 Senior Lien 01854WDW1 AllianceBernstein L.P.- 1,499,967.50 - (1,500,000.00) - - 32.50 - - -
347625 LC-Project Fund-2 Senior Lien 66439UEN1 Northeast Utilities - 649,969.13 - (650,000.00) - - 30.87 - - -
347625 LC-Project Fund-2 Senior Lien 88355MEM5 Thermo Fisher Scientific Inc.- 999,862.78 - (1,000,000.00) - - 137.22 - - -
347625 LC-Project Fund-2 Senior Lien 2925A3EN4 Enbridge Energy Partners, L.P.- 999,848.33 - (1,000,000.00) - - 151.67 - - -
347625 LC-Project Fund-2 Senior Lien 91842MED0 VW Credit, Inc.- 1,999,930.00 - (2,000,000.00) - - 70.00 - - -
347625 LC-Project Fund-2 Senior Lien 19122XF21 Coca-Cola Refreshments USA, In - 1,499,866.67 - (1,500,000.00) - - 133.33 - - -
347625 LC-Project Fund-2 Senior Lien 65339NEF7 NextEra Energy Capital Holdings - 1,999,895.00 - (2,000,000.00) - - 105.00 - - -
347625 LC-Project Fund-2 Senior Lien 19122XE63 Coca-Cola Refreshments USA, In - 1,499,933.34 - (1,500,000.00) - - 66.66 - - -
347625 LC-Project Fund-2 Senior Lien 1248C3D27 CBS Corporation 999,955.00 - - (1,000,000.00) - - 6.11 38.89 - -
347625 LC-Project Fund-2 Senior Lien 2925A3DR6 Enbridge Energy Partners, L.P.1,499,722.50 - - (1,500,000.00) - - 310.00 (32.50) - -
347625 LC-Project Fund-2 Senior Lien 66439UED3 Northeast Utilities - 1,099,959.37 - (1,100,000.00) - - 40.63 - - -
347625 LC-Project Fund-2 Senior Lien 46625HHN3 JPMORGAN CHASE & CO 1,510,470.00 - - (1,500,000.00) - - (10,876.90) 406.90 - -
347625 LC-Project Fund-2 Senior Lien 19122XDU1 Coca-Cola Refreshments USA, In - 1,499,941.67 - (1,500,000.00) - - 58.33 - - -
347625 LC-Project Fund-2 Senior Lien 78355BG14 Ryder System, Inc.- 1,599,751.10 - - - - 248.90 (75.20) 1,599,924.80 -
347625 LC-Project Fund-2 Senior Lien 69430MGP5 Pacific Gas and Electric Company - 1,499,110.01 - - - - 669.99 (69.50) 1,499,710.50 -
347625 LC-Project Fund-2 Senior Lien 47787RAB6 JDOT 2012-B A2 6,127.40 - - - (6,127.32) (0.00) (0.36) 0.28 - -
347625 LC-Project Fund-2 Senior Lien 66439UE76 Northeast Utilities - 1,399,955.66 - (1,400,000.00) - - 44.34 - - -
347625 LC-Project Fund-2 Senior Lien 209111EW9 CONS EDISON CO OF NY 1,500,000.00 - - (1,500,000.00) - - - - - -
347625 LC-Project Fund-2 Senior Lien 92867KAC8 VWALT 2012-A A3 435,837.72 - - - (159,156.85) (292.80) (275.48) 14.24 276,126.84 73.33
347625 LC-Project Fund-2 Senior Lien 6362P3HN7 National Grid USA Service Comp - 1,699,233.11 - - - - 79.33 (99.54) 1,699,212.90 -
347625 LC-Project Fund-2 Senior Lien 693476BK8 PNC FUNDING CORP 1,003,550.00 - - (1,000,000.00) - (0.00) (3,637.24) 87.24 - -
347625 LC-Project Fund-2 Senior Lien 96332VF37 Whirlpool Corporation - 1,499,615.00 - (1,500,000.00) - - 385.00 - - -
32
Page 12 of 21
Source
Account Account Identifier Description
Beginning Base
Market Value Base Purchases Base Sales
Base Maturities
and Redemptions Base Paydowns
Net Total Realized
Gain/(Loss)
Base
Amortization/A
ccretion
Base Change In
Net Unrealized
Gain/(Loss)
Ending Base
Market Value
Ending Accrued
Income Balance
STAMP Portfolio Transaction Report by Account
Quarter ended June 30, 2014
347625 LC-Project Fund-2 Senior Lien 2925A3F60 Enbridge Energy Partners, L.P.- 499,916.95 - (500,000.00) - - 83.05 - - -
347625 LC-Project Fund-2 Senior Lien 2925A3F60 Enbridge Energy Partners, L.P.- 399,933.56 - (400,000.00) - - 66.44 - - -
347625 LC-Project Fund-2 Senior Lien 89236QAC5 TAOT 2011-B A3 410,580.30 - - - (224,093.93) (175.52) (127.23) 15.99 186,199.61 56.25
347625 LC-Project Fund-2 Senior Lien 25471KG89 Discovery Communications, LLC - 1,499,870.00 - - - - 60.00 (69.50) 1,499,860.50 -
347625 LC-Project Fund-2 Senior Lien 05333UED8 AutoZone, Inc.- 999,908.33 - (1,000,000.00) - - 91.67 - - -
347625 LC-Project Fund-2 Senior Lien 25153KDB0 Deutsche Bank Financial LLC - 599,989.50 - (600,000.00) - - 10.50 - - -
347625 LC-Project Fund-2 Senior Lien 3135G0YS6 FANNIE MAE 700,238.00 - - (700,000.00) - (0.00) (246.40) 8.40 - -
347625 LC-Project Fund-2 Senior Lien 78573FEW5 SABMiller Holdings Inc.- 1,299,877.23 - (1,300,000.00) - - 122.77 - - -
347625 LC-Project Fund-2 Senior Lien 90655KGE8 Union Electric Company - 1,699,692.98 - - - - 153.51 (72.59) 1,699,773.90 -
347625 LC-Project Fund-2 Senior Lien 05333UDM9 AutoZone, Inc.1,499,778.00 - - (1,500,000.00) - - 183.32 38.68 - -
347625 LC-Project Fund-2 Senior Lien 05634CGG5 Bacardi U.S.A., Inc.- 799,892.66 - - - - 30.67 (40.93) 799,882.40 -
347625 LC-Project Fund-2 Senior Lien 03741PF31 Apache Corporation - 1,399,965.78 - (1,400,000.00) - - 34.22 - - -
347625 LC-Project Fund-2 Senior Lien 05333UF54 AutoZone, Inc.- 1,499,808.33 - (1,500,000.00) - - 191.67 - - -
347625 LC-Project Fund-2 Senior Lien 03741PDR0 Apache Corporation - 1,499,963.34 - (1,500,000.00) - - 36.66 - - -
347625 LC-Project Fund-2 Senior Lien 78355BD33 Ryder System, Inc.1,499,923.50 - - (1,500,000.00) - - 17.50 59.00 - -
347625 LC-Project Fund-2 Senior Lien 2925A3GH5 Enbridge Energy Partners, L.P.- 1,699,706.75 - - - - 89.25 (56.10) 1,699,739.90 -
347625 LC-Project Fund-2 Senior Lien 44890NE55 Hyundai Capital America 1,999,480.00 - - (2,000,000.00) - - 396.66 123.34 - -
347625 LC-Project Fund-2 Senior Lien 63946EGB4 Comcast Corporation - 1,499,760.42 - - - - 143.75 (73.67) 1,499,830.50 -
347625 LC-Project Fund-2 Senior Lien 844730AG6 SOUTHTRUST CORP 650,098.72 - - (643,000.00) - 0.00 (7,186.54) 87.82 - -
347625 LC-Project Fund-2 Senior Lien 3130A0S92 FEDERAL HOME LOAN BANK 1,991,700.00 - - (2,000,000.00) - (0.00) (1,672.22) 9,972.22 - -
347625 LC-Project Fund-2 Senior Lien 2574P1G97 Dominion Resources, Inc.- 1,449,740.61 - - - - 185.28 (70.89) 1,449,855.00 -
347625 LC-Project Fund-2 Senior Lien 07787QFH4 Bell Canada - 1,499,710.01 - (1,500,000.00) - - 289.99 - - -
347625 LC-Project Fund-2 Senior Lien 13638XD80 Canadian Natural Resources Limi 1,499,878.50 - - (1,500,000.00) - - 78.75 42.75 - -
347625 LC-Project Fund-2 Senior Lien 05635NF48 Bacardi Corporation - 1,499,825.00 - (1,500,000.00) - - 175.00 - - -
347625 LC-Project Fund-2 Senior Lien 20279WG21 Commonwealth Edison Company - 1,499,820.00 - - - - 168.75 (68.25) 1,499,920.50 -
347625 LC-Project Fund-2 Senior Lien 60920WE22 Mondelez International, Inc.1,499,647.50 - - (1,500,000.00) - - 348.75 3.75 - -
347625 LC-Project Fund-2 Senior Lien 89231NAC7 TAOT 2012-B A3 1,000,501.00 - - - (185,169.39) (97.57) (82.53) 74.31 815,225.82 166.59
347625 LC-Project Fund-2 Senior Lien 89231NAC7 TAOT 2012-B A3 220,110.22 - - - (40,737.26) (6.76) (5.71) (10.81) 179,349.68 36.65
347625 LC-Project Fund-2 Senior Lien 65475MFG0 Nissan Motor Acceptance Corpor - 1,799,229.49 - (1,800,000.00) - - 770.51 - - -
347625 LC-Project Fund-2 Senior Lien 36962G5E0 GENERAL ELEC CAP CORP 1,206,506.25 - - (1,205,000.00) - 0.00 (1,362.54) (143.71) - -
347625 LC-Project Fund-2 Senior Lien 88731JD71 Time Warner Cable Inc.1,499,887.50 - - (1,500,000.00) - - 62.50 50.00 - -
347625 LC-Project Fund-2 Senior Lien 27743KGA2 Eastman Chemical Company - 1,499,523.33 - - - - 379.17 (63.00) 1,499,839.50 -
347625 LC-Project Fund-2 Senior Lien 57163UEM4 Marriott International, Inc.- 1,999,629.44 - (2,000,000.00) - - 370.56 - - -
347625 LC-Project Fund-2 Senior Lien 92867KAD6 VWALT 2012-A A4 1,305,610.80 - - - - - (1,635.47) (1,392.23) 1,302,583.10 421.06
347625 LC-Project Fund-2 Senior Lien 05634CDG8 Bacardi U.S.A., Inc.1,499,823.00 - - (1,500,000.00) - - 137.50 39.50 - -
347625 LC-Project Fund-2 Senior Lien 65475MGR5 Nissan Motor Acceptance Corpor - 1,599,594.67 - - - - 149.33 (75.20) 1,599,668.80 -
347625 LC-Project Fund-2 Senior Lien 27886ME66 Ecolab Inc.1,499,596.50 - - (1,500,000.00) - - 364.58 38.92 - -
347625 LC-Project Fund-2 Senior Lien 6821A3FQ3 Omnicom Capital Inc.- 1,499,451.66 - (1,500,000.00) - - 548.34 - - -
347625 LC-Project Fund-2 Senior Lien 20279WF55 Commonwealth Edison Company - 1,499,913.75 - (1,500,000.00) - - 86.25 - - -
347625 LC-Project Fund-2 Senior Lien 78573FE13 SABMiller Holdings Inc.- 1,499,722.08 - (1,500,000.00) - - 277.92 - - -
347625 LC-Project Fund-2 Senior Lien 55314QAC1 MMAF 2012-AA A3 750,948.00 - - - (134,334.32) (214.34) (276.80) 851.43 616,973.98 337.59
347625 LC-Project Fund-2 Senior Lien 43357MFG0 Hitachi Capital America Corp.- 1,099,743.34 - (1,100,000.00) - - 256.66 - - -
347625 LC-Project Fund-2 Senior Lien 42823KG22 Hewlett-Packard Company - 1,499,685.84 - - - - 303.33 (68.67) 1,499,920.50 -
347625 LC-Project Fund-2 Senior Lien 26244JD71 Duke Energy Corporation 749,943.75 - - (750,000.00) - - 26.25 30.00 - -
347625 LC-Project Fund-2 Senior Lien 05333UDQ0 AutoZone, Inc.- 1,499,975.00 - (1,500,000.00) - - 25.00 - - -
347625 LC-Project Fund-2 Senior Lien 65339NE67 NextEra Energy Capital Holdings - 1,499,808.33 - (1,500,000.00) - - 191.67 - - -
347625 LC-Project Fund-2 Senior Lien 91842MDR0 VW Credit, Inc.- 1,499,970.00 - (1,500,000.00) - - 30.00 - - -
347625 LC-Project Fund-2 Senior Lien 0220X1E19 Altria Group, Inc.- 749,920.00 - (750,000.00) - - 80.00 - - -
347625 LC-Project Fund-2 Senior Lien 17308BAN8 COMNI 2009-A17 A17 1,387,170.90 - - - - - (14,973.69) 315.39 1,372,512.60 8,452.50
347625 LC-Project Fund-2 Senior Lien 17181BG79 Cigna Corporation - 1,499,262.92 - - - - 664.58 (16.00) 1,499,911.50 -
347625 LC-Project Fund-2 Senior Lien 02582JFV7 AMXCA 2009-2 A 1,004,526.00 - - - - - (2,932.21) (73.79) 1,001,520.00 584.06
347625 LC-Project Fund-2 Senior Lien 03741PFC1 Apache Corporation - 1,374,941.18 - (1,375,000.00) - - 58.82 - - -
347625 LC-Project Fund-2 Senior Lien 26244JGE3 Duke Energy Corporation - 1,499,733.33 - - - - 158.34 (91.17) 1,499,800.50 -
347625 LC-Project Fund-2 Senior Lien 62956UG92 Nabors Industries, Inc.- 1,499,800.01 - - - - 100.00 (50.01) 1,499,850.00 -
347625 LC-Project Fund-2 Senior Lien 03741PDE9 Apache Corporation - 1,999,914.44 - (2,000,000.00) - - 85.56 - - -
347625 LC-Project Fund-2 Senior Lien 78573FGN3 SABMiller Holdings Inc.- 1,699,716.66 - - - - 45.33 (79.89) 1,699,682.10 -
347625 LC-Project Fund-2 Senior Lien 44890NHM5 Hyundai Capital America - 1,499,260.41 - - - - 208.34 (146.75) 1,499,322.00 -
347625 LC-Project Fund-2 Senior Lien 57163UG75 Marriott International, Inc.- 1,499,598.54 - - - - 342.71 (71.75) 1,499,869.50 -
347625 LC-Project Fund-2 Senior Lien 49455BDM1 Kinder Morgan Energy Partners, L - 1,499,880.84 - (1,500,000.00) - - 119.16 - - -
347625 LC-Project Fund-2 Senior Lien 37790BEE7 Glencore Funding LLC - 1,799,474.99 - (1,800,000.00) - - 525.01 - - -
347625 LC-Project Fund-2 Senior Lien 27743KDA5 Eastman Chemical Company 1,499,860.50 - - (1,500,000.00) - - 93.75 45.75 - -
347625 LC-Project Fund-2 Senior Lien 2574P1E16 Dominion Resources, Inc.1,499,659.50 - - (1,500,000.00) - - 300.00 40.50 - -
347625 LC-Project Fund-2 Senior Lien 97689RAH7 WI HSG-VAR-TXB-B-MFH 1,815,000.00 - - (10,000.00) - - - - 1,805,000.00 157.75
347625 LC-Project Fund-2 Senior Lien 3136G0AN1 FANNIE MAE 974,756.25 - - (975,000.00) - (0.00) (341.25) 585.00 - -
347625 LC-Project Fund-2 Senior Lien 50104MG70 The Kroger Co.- 1,499,697.50 - - - - 247.50 (75.50) 1,499,869.50 -
347625 LC-Project Fund-2 Senior Lien 36159LBN5 GEDFT 2011-1 A 2,002,300.00 - - - - - (1,925.46) 63.46 2,000,438.00 460.17
347625 LC-Project Fund-2 Senior Lien 65339ND27 NextEra Energy Capital Holdings 1,099,950.50 - - (1,100,000.00) - - 7.03 42.47 - -
347625 LC-Project Fund-2 Senior Lien 05635NFJ5 Bacardi Corporation - 1,499,886.26 - (1,500,000.00) - - 113.74 - - -
347625 LC-Project Fund-2 Senior Lien 91159HGR5 US BANCORP 1,506,810.00 - - (1,500,000.00) - - (7,270.56) 460.56 - -
347625 LC-Project Fund-2 Senior Lien 36162NAC1 GEET 2012-1 A3 455,083.65 - - - (216,414.35) (369.88) (278.53) 112.94 238,133.82 58.87
347625 LC-Project Fund-2 Senior Lien 41282KEK0 Harley-Davidson Financial Servic 1,499,413.50 - - (1,500,000.00) - - 420.00 166.50 - -
347625 LC-Project Fund-2 Senior Lien 65339NFB5 NextEra Energy Capital Holdings - 1,999,890.00 - (2,000,000.00) - - 110.00 - - -
33
Page 13 of 21
Source
Account Account Identifier Description
Beginning Base
Market Value Base Purchases Base Sales
Base Maturities
and Redemptions Base Paydowns
Net Total Realized
Gain/(Loss)
Base
Amortization/A
ccretion
Base Change In
Net Unrealized
Gain/(Loss)
Ending Base
Market Value
Ending Accrued
Income Balance
STAMP Portfolio Transaction Report by Account
Quarter ended June 30, 2014
347625 LC-Project Fund-2 Senior Lien 84757BG73 SPECTRA ENERGY PARTNER - 1,499,591.67 - - - - 338.33 (60.50) 1,499,869.50 -
347625 LC-Project Fund-2 Senior Lien 37790BFT3 Glencore Funding LLC - 1,699,586.80 - (1,700,000.00) - - 413.20 - - -
347625 LC-Project Fund-2 Senior Lien 22546QAA5 CREDIT SUISSE NEW YORK 1,506,135.00 - - (1,500,000.00) - - (6,555.41) 420.41 - -
347625 LC-Project Fund-2 Senior Lien 88355MG27 Thermo Fisher Scientific Inc.- 999,783.33 - - - - 209.45 (45.78) 999,947.00 -
347625 LC-Project Fund-2 Senior Lien 57163UDM5 Marriott International, Inc.1,999,678.00 - - (2,000,000.00) - - 255.56 66.44 - -
347625 LC-Project Fund-2 Senior Lien 1248C3EF7 CBS Corporation - 1,499,862.50 - (1,500,000.00) - - 137.50 - - -
347625 LC-Project Fund-2 Senior Lien 05634CFR2 Bacardi U.S.A., Inc.- 1,499,880.84 - (1,500,000.00) - - 119.16 - - -
347625 LC-Project Fund-2 Senior Lien 05634CEE2 Bacardi U.S.A., Inc.- 1,499,833.76 - (1,500,000.00) - - 166.24 - - -
347625 LC-Project Fund-2 Senior Lien 60920WFR6 Mondelez International, Inc.- 1,999,333.34 - (2,000,000.00) - - 666.66 - - -
347625 LC-Project Fund-2 Senior Lien 6362P3E67 National Grid USA Service Comp - 999,747.22 - (1,000,000.00) - - 252.78 - - -
347625 LC-Project Fund-2 Senior Lien 15103HE77 Celgene Corporation 999,722.00 - - (1,000,000.00) - - 240.00 38.00 - -
347625 LC-Project Fund-2 Senior Lien 98412FFP2 Xerox Corporation - 1,499,781.26 - (1,500,000.00) - - 218.74 - - -
347625 LC-Project Fund-2 Senior Lien 98412FET5 Xerox Corporation - 1,499,885.00 - (1,500,000.00) - - 115.00 - - -
347625 LC-Project Fund-2 Senior Lien 0020A3GE4 AT&T Inc.- 1,599,608.00 - - - - 270.67 (91.47) 1,599,787.20 -
347625 LC-Project Fund-2 Senior Lien 26244JF20 Duke Energy Corporation - 1,499,850.00 - (1,500,000.00) - - 150.00 - - -
347625 LC-Project Fund-2 Senior Lien 88731JGM5 Time Warner Cable Inc.- 1,599,390.22 - - - - 360.89 (39.11) 1,599,712.00 -
Subtotal - 347625 LC-Project Fund-2 Senior Lien 48,712,991.33 129,518,870.79 (19,772,293.65) (111,058,000.00) (1,293,195.09) (1,749.11) (44,009.07) 11,065.46 46,073,680.66 10,891.46
347628 LC-PF-2 Sales Tax Revenue Bond 61747C715 MORGAN STANLEY LIQ PRIM 156,179.41 87,494,030.00 (87,161,703.65) - - - - - 488,505.76 -
347628 LC-PF-2 Sales Tax Revenue Bond 50104MF22 The Kroger Co.- 7,999,022.24 - (8,000,000.00) - - 977.76 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 69430ME77 Pacific Gas and Electric Company - 7,199,771.98 - (7,200,000.00) - - 228.02 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 1248C3FC3 CBS Corporation - 3,999,253.33 - (4,000,000.00) - - 746.67 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 66439UEN1 Northeast Utilities - 7,999,620.00 - (8,000,000.00) - - 380.00 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 2574P1EC2 Dominion Resources, Inc.- 2,707,834.51 - (2,708,000.00) - - 165.49 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 2925A3EN4 Enbridge Energy Partners, L.P.- 3,999,393.32 - (4,000,000.00) - - 606.68 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 91842MED0 VW Credit, Inc.- 7,999,720.00 - (8,000,000.00) - - 280.00 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 19122XF21 Coca-Cola Refreshments USA, In - 7,999,288.88 - (8,000,000.00) - - 711.12 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 65339NEF7 NextEra Energy Capital Holdings - 7,999,580.00 - (8,000,000.00) - - 420.00 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 05531FAA1 BB&T CORPORATION 7,490,063.80 - - (7,460,000.00) - - (30,322.94) 259.14 - -
347628 LC-PF-2 Sales Tax Revenue Bond 1248C3D27 CBS Corporation 5,499,752.50 - - (5,500,000.00) - - 33.61 213.89 - -
347628 LC-PF-2 Sales Tax Revenue Bond 2925A3DR6 Enbridge Energy Partners, L.P.1,324,754.88 - - (1,325,000.00) - - 273.84 (28.71) - -
347628 LC-PF-2 Sales Tax Revenue Bond 46625HHN3 JPMORGAN CHASE & CO 6,041,880.00 - - (6,000,000.00) - - (40,260.00) (1,620.00) - -
347628 LC-PF-2 Sales Tax Revenue Bond 66439UED3 Northeast Utilities - 1,499,944.59 - (1,500,000.00) - - 55.41 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 19122XDU1 Coca-Cola Refreshments USA, In - 889,975.28 - (890,000.00) - - 24.72 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 19648CAC5 CO HSG & FIN-B-TXBL 9,854,925.00 - - (9,850,000.00) - - (4,429.06) (495.94) - -
347628 LC-PF-2 Sales Tax Revenue Bond 78387GAP8 AT&T INC 6,640,258.80 - - - - - (70,866.70) (8,742.26) 6,560,649.84 97,668.40
347628 LC-PF-2 Sales Tax Revenue Bond 0258M0CZ0 AMER EXPRESS CREDIT CO 6,238,273.84 - - - - - (68,405.57) (2,204.15) 6,167,664.12 109,849.25
347628 LC-PF-2 Sales Tax Revenue Bond 47787RAB6 JDOT 2012-B A2 315.47 - - - (315.46) (0.00) 0.01 (0.02) - -
347628 LC-PF-2 Sales Tax Revenue Bond 69430MDP8 Pacific Gas and Electric Company - 3,499,883.35 - (3,500,000.00) - - 116.65 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 03741PEL2 Apache Corporation - 1,899,918.72 - (1,900,000.00) - - 81.28 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 693476BK8 PNC FUNDING CORP 4,987,643.50 - - (4,970,000.00) - (0.00) (16,491.27) (1,152.22) - -
347628 LC-PF-2 Sales Tax Revenue Bond 36962GK86 GENERAL ELEC CAP CORP 5,099,700.00 - - - - - (51,448.12) (2,401.88) 5,045,850.00 69,930.56
347628 LC-PF-2 Sales Tax Revenue Bond 96332VF37 Whirlpool Corporation - 6,998,203.31 - (7,000,000.00) - - 1,796.69 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 74432QAE5 PRUDENTIAL FINANCIAL INC 2,744,420.50 - - - - - (28,045.83) (2,950.61) 2,713,424.06 38,432.18
347628 LC-PF-2 Sales Tax Revenue Bond 00279VCA1 ABBEY NATL TREASURY SER 3,061,290.00 - - - - - (19,683.68) (4,766.32) 3,036,840.00 16,468.75
347628 LC-PF-2 Sales Tax Revenue Bond 89236QAC5 TAOT 2011-B A3 1,288,095.07 - - - (703,039.80) (550.62) (399.16) 50.16 584,155.64 176.46
347628 LC-PF-2 Sales Tax Revenue Bond 31395MLT4 FHR 2930 AN 159,869.28 - - - (110,373.56) (461.69) (287.26) 80.18 48,826.95 182.94
347628 LC-PF-2 Sales Tax Revenue Bond 02582JFY1 AMXCA 2011-1 B 1,001,976.00 - - - - - (378.51) (691.49) 1,000,906.00 354.90
347628 LC-PF-2 Sales Tax Revenue Bond 25471KG89 Discovery Communications, LLC - 1,999,826.66 - - - - 80.00 (92.66) 1,999,814.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 928670AD0 VOLKSWAGEN INTL FIN NV 4,670,000.00 - - (4,670,000.00) - - - - - -
347628 LC-PF-2 Sales Tax Revenue Bond 05333UDM9 AutoZone, Inc.5,999,112.00 - - (6,000,000.00) - - 733.31 154.69 - -
347628 LC-PF-2 Sales Tax Revenue Bond 020002AR2 ALLSTATE CORP 5,964,859.20 - - - - - (62,456.73) 2,054.43 5,904,456.90 110,877.78
347628 LC-PF-2 Sales Tax Revenue Bond 03741PF31 Apache Corporation - 3,499,914.46 - (3,500,000.00) - - 85.54 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 67021CAB3 NSTAR ELECTRIC CO 7,911,613.00 - - (7,900,000.00) - - (13,411.97) 1,798.97 - -
347628 LC-PF-2 Sales Tax Revenue Bond 03741PDR0 Apache Corporation - 7,999,804.48 - (8,000,000.00) - - 195.52 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 88731JEC9 Time Warner Cable Inc.4,298,611.10 - - (4,300,000.00) - - 1,322.25 66.65 - -
347628 LC-PF-2 Sales Tax Revenue Bond 40428EJQ3 HSBC BANK USA 12,035,000.00 - - (12,035,000.00) - (0.00) - 0.00 - -
347628 LC-PF-2 Sales Tax Revenue Bond 40428EJQ3 HSBC BANK USA 750,000.00 - - (750,000.00) - (0.00) - 0.00 - -
347628 LC-PF-2 Sales Tax Revenue Bond 40428EJQ3 HSBC BANK USA 701,000.00 - - (701,000.00) - - - - - -
347628 LC-PF-2 Sales Tax Revenue Bond 63946EGB4 Comcast Corporation - 7,998,722.24 - - - - 766.66 (392.90) 7,999,096.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 2925A3GH5 Enbridge Energy Partners, L.P.- 6,498,878.75 - - - - 341.25 (214.50) 6,499,005.50 -
347628 LC-PF-2 Sales Tax Revenue Bond 59156RAH1 METLIFE INC 2,107,598.69 - - (2,087,000.00) - 0.00 (20,965.40) 366.71 - -
347628 LC-PF-2 Sales Tax Revenue Bond 929903AJ1 WACHOVIA CORP 3,973,067.57 - - - - - (42,942.90) (4,301.98) 3,925,822.69 85,553.13
347628 LC-PF-2 Sales Tax Revenue Bond 07787QFH4 Bell Canada - 7,998,453.36 - (8,000,000.00) - - 1,546.64 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 13638XD80 Canadian Natural Resources Limi 5,999,514.00 - - (6,000,000.00) - - 315.00 171.00 - -
347628 LC-PF-2 Sales Tax Revenue Bond 05635NF48 Bacardi Corporation - 7,999,066.64 - (8,000,000.00) - - 933.36 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 20279WG21 Commonwealth Edison Company - 7,999,040.00 - - - - 900.00 (364.00) 7,999,576.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 89231NAC7 TAOT 2012-B A3 1,085,543.59 - - - (200,908.77) (105.88) (89.55) 80.62 884,520.01 180.75
347628 LC-PF-2 Sales Tax Revenue Bond 65475MFG0 Nissan Motor Acceptance Corpor - 3,198,630.21 - (3,200,000.00) - - 1,369.79 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 64468EAZ3 NH BUS TXB-SER B 3,200,000.00 - - - - - - - 3,200,000.00 350.22
347628 LC-PF-2 Sales Tax Revenue Bond 57163UEM4 Marriott International, Inc.- 4,999,073.61 - (5,000,000.00) - - 926.39 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 27743KH78 Eastman Chemical Company - 7,996,940.00 - - - - 840.00 (252.00) 7,997,528.00 -
34
Page 14 of 21
Source
Account Account Identifier Description
Beginning Base
Market Value Base Purchases Base Sales
Base Maturities
and Redemptions Base Paydowns
Net Total Realized
Gain/(Loss)
Base
Amortization/A
ccretion
Base Change In
Net Unrealized
Gain/(Loss)
Ending Base
Market Value
Ending Accrued
Income Balance
STAMP Portfolio Transaction Report by Account
Quarter ended June 30, 2014
347628 LC-PF-2 Sales Tax Revenue Bond 36159JBT7 GEMNT 2009-4 A 5,099,220.00 - - - - - (39,148.10) 2,798.10 5,062,870.00 8,444.44
347628 LC-PF-2 Sales Tax Revenue Bond 43814AAC7 HAROT 2011-2 A3 23,224.80 - - - (23,208.88) (6.27) (2.15) (7.50) - -
347628 LC-PF-2 Sales Tax Revenue Bond 05634CDG8 Bacardi U.S.A., Inc.7,999,056.00 - - (8,000,000.00) - - 733.35 210.65 - -
347628 LC-PF-2 Sales Tax Revenue Bond 17308BAL2 COMNI 2009-A13 A13 1,619,114.49 - - - - - (18,546.44) (827.71) 1,599,740.34 32,135.67
347628 LC-PF-2 Sales Tax Revenue Bond 17308BAL2 COMNI 2009-A13 A13 2,800,355.25 - - - - - (31,870.85) (1,637.90) 2,766,846.50 55,580.56
347628 LC-PF-2 Sales Tax Revenue Bond 36162RAC2 GEEST 2012-1A A3 5,924,088.70 - - - (2,120,231.94) (2,100.44) (1,591.56) (3,179.24) 3,796,985.52 1,094.94
347628 LC-PF-2 Sales Tax Revenue Bond 6821A3FQ3 Omnicom Capital Inc.- 7,997,075.52 - (8,000,000.00) - - 2,924.48 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 20279WF55 Commonwealth Edison Company - 7,999,540.00 - (8,000,000.00) - - 460.00 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 55314QAC1 MMAF 2012-AA A3 3,003,792.00 - - - (537,337.26) (552.50) (578.92) 2,572.60 2,467,895.92 1,350.36
347628 LC-PF-2 Sales Tax Revenue Bond 55314QAC1 MMAF 2012-AA A3 1,155,458.66 - - - (206,695.73) (277.36) (343.61) 1,175.34 949,317.30 519.44
347628 LC-PF-2 Sales Tax Revenue Bond 42823KG22 Hewlett-Packard Company - 7,998,324.48 - - - - 1,617.74 (366.22) 7,999,576.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 43357MFG0 Hitachi Capital America Corp.- 4,998,833.35 - (5,000,000.00) - - 1,166.65 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 43357MFG0 Hitachi Capital America Corp.- 2,999,325.00 - (3,000,000.00) - - 675.00 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 26244JD71 Duke Energy Corporation 249,981.25 - - (250,000.00) - - 8.75 10.00 - -
347628 LC-PF-2 Sales Tax Revenue Bond 172967CK5 CITIGROUP INC 3,241,396.20 - - (3,228,000.00) - - (12,170.60) (1,225.60) - -
347628 LC-PF-2 Sales Tax Revenue Bond 2574P1FC1 Dominion Resources, Inc.- 3,749,335.43 - (3,750,000.00) - - 664.57 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 05333UDQ0 AutoZone, Inc.- 3,999,933.32 - (4,000,000.00) - - 66.68 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 2574P1G97 Dominion Resources, Inc.- 6,998,747.77 - - - - 894.45 (342.22) 6,999,300.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 65339NE67 NextEra Energy Capital Holdings - 5,999,233.32 - (6,000,000.00) - - 766.68 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 43813TAD5 HAROT 2011-1 A4 2,435,073.23 - - - (2,431,006.17) (259.76) (2,830.63) (976.67) - -
347628 LC-PF-2 Sales Tax Revenue Bond 55314MAC0 MMAF 2011-AA A3 1,886,310.63 - - - (831,719.34) (541.21) (711.08) (576.29) 1,052,762.72 593.69
347628 LC-PF-2 Sales Tax Revenue Bond 0220X1E19 Altria Group, Inc.- 4,999,466.65 - (5,000,000.00) - - 533.35 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 233851AG9 DAIMLER FINANCE NA LLC 1,408,456.00 - - - - - (3,460.63) (655.37) 1,404,340.00 7,729.17
347628 LC-PF-2 Sales Tax Revenue Bond 233851AG9 DAIMLER FINANCE NA LLC 1,006,040.00 - - - - - (2,501.24) (438.76) 1,003,100.00 5,520.83
347628 LC-PF-2 Sales Tax Revenue Bond 44890NEC0 Hyundai Capital America - 5,998,466.64 - (6,000,000.00) - - 1,533.36 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 407288YD5 HAMILTON SWR-B-REF 6,671,845.80 - - - - - - 2,857.35 6,674,703.15 4,446.61
347628 LC-PF-2 Sales Tax Revenue Bond 17308BAN8 COMNI 2009-A17 A17 1,695,431.10 - - - - - (18,301.18) 385.48 1,677,515.40 10,330.83
347628 LC-PF-2 Sales Tax Revenue Bond 17308BAN8 COMNI 2009-A17 A17 5,137,670.00 - - - - - (51,519.87) (2,770.13) 5,083,380.00 31,305.56
347628 LC-PF-2 Sales Tax Revenue Bond 17308BAN8 COMNI 2009-A17 A17 1,027,534.00 - - - - - (10,848.19) (9.81) 1,016,676.00 6,261.11
347628 LC-PF-2 Sales Tax Revenue Bond 17181BG79 Cigna Corporation - 6,996,560.27 - - - - 3,101.40 (74.67) 6,999,587.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 05565QBL1 BP CAPITAL MARKETS PLC 7,072,419.00 - - (7,050,000.00) - (0.00) (22,915.09) 496.09 - -
347628 LC-PF-2 Sales Tax Revenue Bond 94974BET3 WELLS FARGO & COMPANY 3,559,675.00 - - - - - (26,144.39) (3,395.61) 3,530,135.00 32,812.50
347628 LC-PF-2 Sales Tax Revenue Bond 26244JGE3 Duke Energy Corporation - 7,998,577.76 - - - - 844.46 (486.22) 7,998,936.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 62956UG92 Nabors Industries, Inc.- 3,499,533.35 - - - - 233.33 (116.68) 3,499,650.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 03741PDE9 Apache Corporation - 849,963.64 - (850,000.00) - - 36.36 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 78573FGN3 SABMiller Holdings Inc.- 7,998,666.64 - - - - 213.34 (375.98) 7,998,504.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 44890NHM5 Hyundai Capital America - 3,498,274.29 - - - - 486.12 (342.41) 3,498,418.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 64468EAY6 NH ST BUS FIN-TXB-A 4,190,000.00 - - - - - - - 4,190,000.00 458.57
347628 LC-PF-2 Sales Tax Revenue Bond 57163UG75 Marriott International, Inc.- 7,997,858.88 - - - - 1,827.79 (382.67) 7,999,304.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 49455BDM1 Kinder Morgan Energy Partners, L - 5,999,523.36 - (6,000,000.00) - - 476.64 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 38141GCM4 GOLDMAN SACHS GROUP IN 2,061,940.00 - - - - - (21,659.69) (2,860.31) 2,037,420.00 14,055.56
347628 LC-PF-2 Sales Tax Revenue Bond 29250NAC9 ENBRIDGE INC 5,053,125.00 - - (5,000,000.00) - - (52,231.50) (893.50) - -
347628 LC-PF-2 Sales Tax Revenue Bond 27743KDA5 Eastman Chemical Company 2,999,721.00 - - (3,000,000.00) - - 187.50 91.50 - -
347628 LC-PF-2 Sales Tax Revenue Bond 43812XAB1 HAROT 2013-3 A2 6,006,462.00 - - - (1,357,283.58) 7.42 9.14 (2,806.17) 4,646,388.81 1,114.25
347628 LC-PF-2 Sales Tax Revenue Bond 3136G0AN1 FANNIE MAE 4,543,863.75 - - (4,545,000.00) - - (1,590.75) 2,727.00 - -
347628 LC-PF-2 Sales Tax Revenue Bond 50104MG70 The Kroger Co.- 7,998,386.64 - - - - 1,320.02 (402.66) 7,999,304.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 37790BE72 Glencore Funding LLC - 3,399,272.77 - (3,400,000.00) - - 727.23 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 842587CE5 SOUTHERN CO 2,109,219.00 - - (2,100,000.00) - - (8,858.08) (360.92) - -
347628 LC-PF-2 Sales Tax Revenue Bond 36159LBN5 GEDFT 2011-1 A 3,003,450.00 - - - - - (2,888.18) 95.18 3,000,657.00 690.25
347628 LC-PF-2 Sales Tax Revenue Bond 36159LBN5 GEDFT 2011-1 A 135,155.25 - - - - - (97.36) (28.32) 135,029.57 31.06
347628 LC-PF-2 Sales Tax Revenue Bond 65339NFB5 NextEra Energy Capital Holdings - 7,999,560.00 - (8,000,000.00) - - 440.00 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 36159JCS8 GEMNT 2012-1 A 1,711,455.13 - - - - - (1,200.22) (177.42) 1,710,077.49 780.51
347628 LC-PF-2 Sales Tax Revenue Bond 36159JCS8 GEMNT 2012-1 A 592,233.74 - - - - - (415.32) (61.40) 591,757.02 270.09
347628 LC-PF-2 Sales Tax Revenue Bond 84757BG73 SPECTRA ENERGY PARTNER - 7,998,008.88 - - - - 1,617.79 (322.67) 7,999,304.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 14912L4V0 CATERPILLAR FINANCIAL SE 6,454,151.90 - - (6,445,000.00) - - (8,878.06) (273.84) - -
347628 LC-PF-2 Sales Tax Revenue Bond 3133XCQE6 FHLB SD-2015 1 165,984.52 - - - (11,480.65) (437.01) (1,016.92) (334.44) 152,715.50 64.09
347628 LC-PF-2 Sales Tax Revenue Bond 36962G4G6 GENERAL ELEC CAP CORP 3,062,670.00 - - - - - (21,992.16) (1,707.84) 3,038,970.00 14,687.50
347628 LC-PF-2 Sales Tax Revenue Bond 31395JS72 FHR 2890 KB 64,521.46 - - - (64,363.57) (150.33) (65.52) 57.96 - -
347628 LC-PF-2 Sales Tax Revenue Bond 38141EA33 GOLDMAN SACHS GROUP IN 5,022,000.00 - - (5,000,000.00) - - (21,529.36) (470.64) - -
347628 LC-PF-2 Sales Tax Revenue Bond 37790BFT3 Glencore Funding LLC - 7,998,055.52 - (8,000,000.00) - - 1,944.48 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 22546QAA5 CREDIT SUISSE NEW YORK 9,036,810.00 - - (9,000,000.00) - - (37,146.07) 336.07 - -
347628 LC-PF-2 Sales Tax Revenue Bond 88355MG27 Thermo Fisher Scientific Inc.- 3,999,133.32 - - - - 837.79 (183.11) 3,999,788.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 1248C3EF7 CBS Corporation - 6,999,358.33 - (7,000,000.00) - - 641.67 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 002799AK0 ABBEY NATL TREASURY SER 5,007,815.00 - - (5,000,000.00) - - (7,563.60) (251.40) - -
347628 LC-PF-2 Sales Tax Revenue Bond 05634CEE2 Bacardi U.S.A., Inc.- 4,999,445.85 - (5,000,000.00) - - 554.15 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 6362P3E67 National Grid USA Service Comp - 7,997,977.76 - (8,000,000.00) - - 2,022.24 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 60920WG12 Mondelez International, Inc.- 4,996,081.95 - - - - 3,918.05 (235.00) 4,999,765.00 -
347628 LC-PF-2 Sales Tax Revenue Bond 98412FET5 Xerox Corporation - 7,999,386.64 - (8,000,000.00) - - 613.36 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 26244JF20 Duke Energy Corporation - 7,999,200.00 - (8,000,000.00) - - 800.00 - - -
347628 LC-PF-2 Sales Tax Revenue Bond 370334BL7 GENERAL MILLS INC 5,827,391.40 - - (5,820,000.00) - 0.00 (7,277.06) (114.34) - -
Subtotal - 347628 LC-PF-2 Sales Tax Revenue Bond 250,349,428.44 417,334,897.25 (87,161,703.65) (363,384,000.00) (8,597,964.71) (5,435.65) (856,627.50) (41,233.46) 207,637,360.71 760,302.89
35
Page 15 of 21
Source
Account Account Identifier Description
Beginning Base
Market Value Base Purchases Base Sales
Base Maturities
and Redemptions Base Paydowns
Net Total Realized
Gain/(Loss)
Base
Amortization/A
ccretion
Base Change In
Net Unrealized
Gain/(Loss)
Ending Base
Market Value
Ending Accrued
Income Balance
STAMP Portfolio Transaction Report by Account
Quarter ended June 30, 2014
205091001 LC-2013 A Capitalized Interest 9AMMF05B2 U.S. Bank Money Market Accoun 98,996.42 14,239,307.96 (14,163,030.65) - - - - - 175,273.73 -
205091001 LC-2013 A Capitalized Interest 38376GWZ9 GNR 2010-141 A 2,603,902.59 - - - (60,234.70) 9.57 (271.43) 31.16 2,543,437.19 3,935.76
205091001 LC-2013 A Capitalized Interest 912828WK2 US TREASURY FRN - 11,496,312.05 - - - - 361.90 3,096.05 11,499,770.00 1,456.71
205091001 LC-2013 A Capitalized Interest 78008K5V1 ROYAL BANK OF CANADA 2,084,820.00 - - - - - (8,927.82) 3,307.82 2,079,200.00 11,500.00
205091001 LC-2013 A Capitalized Interest 31398AZV7 FANNIE MAE - 1,110,808.60 - - - - (75.58) (52.02) 1,110,681.00 3,288.54
205091001 LC-2013 A Capitalized Interest 31392FPP6 FNR 2002-74 PE 365,267.64 - - - (39,399.04) (1,980.61) (1,100.61) 96.70 322,884.09 1,279.70
205091001 LC-2013 A Capitalized Interest 3134A4UU6 FREDDIE MAC - 201,124.88 - - - - (740.77) (4.11) 200,380.00 4,611.11
205091001 LC-2013 A Capitalized Interest 64966H4E7 NYC-TAXABLE-C 1,236,397.50 - - - - - (3,956.17) 7,407.67 1,239,849.00 9,184.50
205091001 LC-2013 A Capitalized Interest 21685WBL0 RABOBANK NEDERLAND 1,540,773.85 - - - - - (4,226.34) 1,818.34 1,538,365.85 6,929.27
205091001 LC-2013 A Capitalized Interest 74977RBQ6 RABOBANK NEDERLAND 1,004,360.00 - - (1,000,000.00) - - (4,672.50) 312.50 - -
205091001 LC-2013 A Capitalized Interest 74977RBQ6 RABOBANK NEDERLAND 220,959.20 - - (220,000.00) - - (1,035.85) 76.65 - -
205091001 LC-2013 A Capitalized Interest 21686CAD2 RABOBANK NEDERLAND 1,060,180.00 - - - - - (3,906.86) 2,686.86 1,058,960.00 15,187.50
205091001 LC-2013 A Capitalized Interest 21686CAD2 RABOBANK NEDERLAND 1,060,180.00 - - - - - (3,389.79) 2,169.79 1,058,960.00 15,187.50
205091001 LC-2013 A Capitalized Interest 3128PHVS7 FG J06025 191,695.32 - - - (29,613.18) (1,384.83) (271.49) (4.03) 160,421.78 629.70
205091001 LC-2013 A Capitalized Interest 31392F6C6 FNR 2002-77 CB 556,626.45 - - - (59,263.04) (3,050.52) (1,638.05) 77.49 492,752.33 1,951.00
205091001 LC-2013 A Capitalized Interest 90327QCW7 USAA CAPITAL CORP 4,087,480.00 - - - - - (10,517.64) 46,117.64 4,123,080.00 22,750.00
205091001 LC-2013 A Capitalized Interest 31392BVM5 FNR 2002-3 PG 195,063.96 - - - (27,487.84) (1,217.27) (691.80) (70.35) 165,596.70 727.69
205091001 LC-2013 A Capitalized Interest 3137ANLP8 FHMS K501 A2 3,117,155.20 - - - - - (2,644.71) 6,758.51 3,121,269.00 4,234.04
205091001 LC-2013 A Capitalized Interest 31398AXJ6 FANNIE MAE 551,617.00 - - (550,000.00) - - (1,608.29) (8.71) - -
205091001 LC-2013 A Capitalized Interest 31398AXJ6 FANNIE MAE - 175,367.50 - (175,000.00) - - (367.50) - - -
205091001 LC-2013 A Capitalized Interest 31398AXJ6 FANNIE MAE - 961,046.40 - (960,000.00) - - (1,046.40) - - -
205091001 LC-2013 A Capitalized Interest 3128MBTH0 FG G13052 215,023.44 - - - (19,591.18) (1,064.90) (518.77) 595.77 194,444.38 763.25
205091001 LC-2013 A Capitalized Interest 3136A4M89 FNA 2012-M3 2A1 670,201.36 - - - (14,400.66) (75.81) (207.83) 5,880.22 661,397.28 1,050.11
205091001 LC-2013 A Capitalized Interest 3136A8G38 FNA 2012-M13 ASQ2 2,968,908.09 - - - (57,768.34) 726.03 2,119.91 17,964.31 2,931,949.99 3,027.12
205091001 LC-2013 A Capitalized Interest 31410GSQ7 FN 888927 300,862.26 - - - (30,428.48) (1,885.70) (1,217.98) 1,415.65 268,745.75 1,266.39
205091001 LC-2013 A Capitalized Interest 184126YS3 CLAYTON CO WTR-B-REF 772,117.50 - - - - - 905.27 4,376.93 777,399.70 1,668.33
205091001 LC-2013 A Capitalized Interest 313385N51 FED HOME LN DISCOUNT NT - 499,830.00 - - - - 17.70 42.30 499,890.00 -
205091001 LC-2013 A Capitalized Interest 3128PGLY7 FG J04843 428,706.97 - - - (31,437.56) (1,349.61) (1,497.49) 1,508.19 395,930.50 1,554.13
205091001 LC-2013 A Capitalized Interest 36290WH47 GN 619551 1,813,477.79 - - - (163,289.50) (9,341.58) (4,385.97) 12,389.53 1,648,850.27 5,871.47
205091001 LC-2013 A Capitalized Interest 912828RU6 US TREASURY N/B 12,041,280.00 - (5,121,414.07) - - 24,908.30 557.12 (2,758.35) 6,942,573.00 5,113.73
205091001 LC-2013 A Capitalized Interest 407288YD5 HAMILTON SWR-B-REF 2,095,516.80 - - - - - - (5,532.80) 2,089,984.00 1,391.87
205091001 LC-2013 A Capitalized Interest 3132FEAK7 FG Z50010 367,149.82 - - - (50,653.17) (2,617.98) (783.51) 1,017.57 314,112.74 1,232.98
205091001 LC-2013 A Capitalized Interest 31401MWC1 FN 712643 1,327,264.61 - - - (76,810.48) (4,104.73) (4,176.99) 6,508.58 1,248,680.99 4,409.60
205091001 LC-2013 A Capitalized Interest 3128GNR59 FG E85908 503,393.86 - - - (81,457.39) (3,668.67) (1,894.15) 1,336.00 417,709.65 2,022.57
205091001 LC-2013 A Capitalized Interest 912828PE4 US TREASURY N/B 1,929,393.00 - (1,928,796.88) - - 2,821.21 (1,332.35) (2,084.99) - -
205091001 LC-2013 A Capitalized Interest 89153VAC3 TOTAL CAPITAL INTL SA 161,572.80 - - - - - 137.51 580.89 162,291.20 20.67
205091001 LC-2013 A Capitalized Interest 31381QLL8 FN 467531 956,182.85 - - - (955,771.87) (9,569.22) (1,026.35) 10,184.58 - -
205091001 LC-2013 A Capitalized Interest 235219JS2 DALLAS-B-REF-TXBL 2,178,916.95 - - - - - - 14,091.00 2,193,007.95 12,816.17
205091001 LC-2013 A Capitalized Interest 36200AFG9 GN 595167 109,709.40 - - - (11,084.09) (637.72) (309.92) (73.30) 97,604.38 421.88
205091001 LC-2013 A Capitalized Interest 89114QAE8 TORONTO-DOMINION BANK 777,570.00 - - - - - (1,994.43) 659.43 776,235.00 3,562.50
205091001 LC-2013 A Capitalized Interest 912828VG2 US TREASURY N/B 10,193,676.00 - (5,201,218.75) - - 21,147.92 2,945.61 (10,300.78) 5,006,250.00 1,092.90
205091001 LC-2013 A Capitalized Interest 31294LPZ0 FG E02240 365,917.99 - - - (56,873.12) (2,743.60) (1,320.86) 1,383.33 306,363.74 1,461.14
205091001 LC-2013 A Capitalized Interest 822582AC6 SHELL INTERNATIONAL FIN 446,924.00 - - - - - (3,289.45) 845.45 444,480.00 5,720.00
205091001 LC-2013 A Capitalized Interest 3128H4NR6 FG E96700 176,249.39 - - - (15,751.47) (811.70) (530.63) 549.79 159,705.38 626.89
205091001 LC-2013 A Capitalized Interest 44328MAL8 HSBC BANK PLC 1,046,340.00 - - - - - (4,397.82) 3,057.82 1,045,000.00 3,186.11
205091001 LC-2013 A Capitalized Interest 44328MAL8 HSBC BANK PLC 2,746,642.50 - - - - - (10,664.99) 7,147.49 2,743,125.00 8,363.54
205091001 LC-2013 A Capitalized Interest 59217GAV1 MET LIFE GLOB FUNDING I 552,183.10 - - - - - (1,150.35) 22.20 551,054.95 51.47
205091001 LC-2013 A Capitalized Interest 313385WC6 FED HOME LN DISCOUNT NT - 99,997.33 - (100,000.00) - - 2.67 - - -
205091001 LC-2013 A Capitalized Interest 912828SY7 US TREASURY N/B 11,861,280.00 - (8,051,273.44) - - 66,295.37 10,499.89 (12,697.82) 3,874,104.00 2,064.55
205091001 LC-2013 A Capitalized Interest 313397WU1 FREDDIE MAC DISCOUNT NT - 224,990.94 - (225,000.00) - - 9.06 - - -
205091001 LC-2013 A Capitalized Interest 31392HWL3 FNR 2003-3 BC 82,781.18 - - - (8,295.08) (392.41) (209.45) (90.24) 73,794.00 291.41
205091001 LC-2013 A Capitalized Interest 3136ACGF2 FNA 2013-M3 ASQ2 2,302,945.00 - - - (7,101.07) (11.81) (775.66) 602.64 2,295,659.10 2,058.63
205091001 LC-2013 A Capitalized Interest 89233P6J0 TOYOTA MOTOR CREDIT CO 5,028,550.00 - - - - - (1,818.17) 2,768.17 5,029,500.00 19,930.56
205091001 LC-2013 A Capitalized Interest 31402QT68 FN 735073 559,585.26 - - - (58,806.40) (4,180.61) (1,737.01) 378.19 495,239.42 2,331.72
205091001 LC-2013 A Capitalized Interest 037833AF7 APPLE INC 2,999,460.00 - - - - - (76.29) 1,816.29 3,001,200.00 1,341.51
205091001 LC-2013 A Capitalized Interest 742718DV8 PROCTER & GAMBLE CO/TH 1,257,980.00 - - - - - (1,297.96) 3,653.96 1,260,336.00 6,792.44
205091001 LC-2013 A Capitalized Interest 31393V2T7 FHR 2627 GY 1,304,512.24 - - - (130,823.16) (6,560.89) (3,099.70) (29.47) 1,163,999.02 4,155.20
205091001 LC-2013 A Capitalized Interest 459200GX3 IBM CORP 478,466.40 - - - - - (1,068.98) (205.12) 477,192.30 4,004.81
205091001 LC-2013 A Capitalized Interest 31393EXC8 FNR 2003-88 TH 668,105.47 - - - (58,757.68) (2,960.66) (1,700.94) 182.60 604,868.79 2,156.45
205091001 LC-2013 A Capitalized Interest 912828UA6 US TREASURY N/B 2,199,892.50 - (493,281.25) - - 4,620.36 3,261.63 8,714.26 1,723,207.50 926.40
205091001 LC-2013 A Capitalized Interest 21685WCG0 RABOBANK NEDERLAND 255,033.15 - - (255,000.00) - - (40.49) 7.34 - -
205091001 LC-2013 A Capitalized Interest 31402RBG3 FN 735439 25,351.41 - - - (2,870.62) (176.96) (85.09) (178.79) 22,039.95 104.57
205091001 LC-2013 A Capitalized Interest 31402RBG3 FN 735439 543,797.34 - - - (61,575.83) (3,911.17) (1,880.46) (3,664.59) 472,765.29 2,243.12
205091001 LC-2013 A Capitalized Interest 31402RBG3 FN 735439 41,929.80 - - - (4,747.84) (274.74) (132.20) (322.18) 36,452.83 172.96
Subtotal - 205091001 LC-2013 A Capitalized Interest 94,730,325.35 29,008,785.66 (34,959,015.04) (3,485,000.00) (2,114,292.79) 56,555.05 (84,893.55) 145,560.03 83,298,024.71 218,122.16
------------440,475,966.04 598,744,407.82 (152,886,886.05) (492,526,000.00) (12,619,156.53) 62,926.84 (1,036,085.08) 325,569.49 380,540,742.54 1,139,440.73
36
STAMP Portfolio Summary of Investments for quarter ended June 30, 2014
Credit Rating Industry Group
Market Sector
Asset Class Security Type
ATTACHMENT 5
37
STAMP Portfolio
Toll Revenue Project Senior Lien Fund Summary of Investments for quarter ended June 30, 2014
Credit Rating Industry Group
Market Sector
Asset Class Security Type
ATTACHMENT 6
38
STAMP Portfolio
Toll Revenue Project Sales Tax Revenue Fund Summary of Investments for quarter ended June 30, 2014
Credit Rating Industry Group
Market Sector
Asset Class Security Type
ATTACHMENT 7
39
Asset Class Security Type
STAMP Portfolio
Series A & Series B Reserve Fund Summary of Investments for quarter ended June 30, 2014
Credit Rating Industry Group
Market Sector
ATTACHMENT 8
40
STAMP Portfolio
Toll Revenue Project Capitalized Interest Fund Summary of Investments for quarter ended June 30, 2014
Credit Rating Industry Group
Market Sector
Asset Class Security Type
ATTACHMENT 9
41
STAMP Portfolio
Sales Tax Revenue Capitalized Interest Fund Summary of Investments for quarter ended June 30, 2014
Credit Rating Industry Group
Market Sector
Asset Class Security Type
ATTACHMENT 10
42
RIVERSIDE COUNTY TREASURER’S POOLED INVESTMENT FUND IS CURRENTLY RATED:
Aaa-bf BY MOODY’S INVESTOR’S SERVICE AND AAA/V1 BY FITCH RATINGS
The Treasurer's Pooled Investment Fund is comprised of the
County, Schools, Special Districts, and other Discretionary Depositors .
Month End Market
Value ($)*
Month End Book
Value ($)
Paper Gain or
Loss ($)
Paper Gain
or Loss (%)
Book
Yield (%)
Yrs to
Maturity
Modified
Duration
June 4,837,170,144.50 4,839,735,132.12 (2,564,987.62) (0.05) 0.42 1.37 1.34
May 5,023,163,902.85 5,024,111,097.73 (947,194.88) (0.02) 0.40 1.31 1.28
April 5,767,857,211.55 5,771,530,528.38 (3,673,316.83) (0.06) 0.37 1.23 1.19
March 5,248,803,539.81 5,256,255,341.77 (7,451,801.96) (0.14) 0.40 1.37 1.33
February 5,163,904,049.52 5,166,397,974.45 (2,493,924.93) (0.05) 0.39 1.31 1.28
January 5,300,848,415.52 5,304,115,565.40 (3,267,149.88) (0.06) 0.37 1.26 1.24
County of Riverside
Treasurer’s Pooled Investment Fund
Capital Markets Team
Don Kent
Treasurer-Tax Collector
Jon Christensen
Asst. Treasurer-Tax Collector
Giovane Pizano
Investment Manager
Erika Clark
Asst. Investment Manager
The primary objective of the treasurer
shall be to safeguard the principal of
the funds under the
treasurer's control, meet the liquidity
needs of the depositor, and achieve a
return on the funds under his or her
control.
Investment Objectives
June2014
As discussed in our July 2013 commentary, “Revising the
Revisions,” one number that plays a prominent role in the
financial markets and in the overall health of the economy
is Gross Domestic Product (GDP). GDP is defined as the
monetary value of all finished goods and services pro-
duced within a country, is calculated on an annual basis,
and reported quarterly. It includes all private and public
consumption, government spending, investments and
exports. GDP numbers are widely viewed as a very im-
portant barometer of the overall health of the economy.
Furthermore, as we opined last summer, the U.S. Govern-
ment had revised all GDP numbers going back to 1929,
making it the single largest set of revisions in the history of
the U.S. Bureau of Economic Analysis (BEA).
Why is this important? On June 25th, the BEA released the
third and final estimate of Q1 GDP, which was an
astounding -2.9%. This was the worst contraction in 24
years going back to 1976, with the exception 4Q 2008 and
1Q 2009, both occurring in the depths of the Great Reces-
sion. Superficially, the first quarter contraction was dis-
missed by those in the media directly tying it to our record
cold winter weather which no doubt, had major impacts
nationwide. However, we are beginning to see that there
are signs of slowing as well as an upswing in inflationary
pressures, as anyone who has been shopping for groceries
recently can plainly see. It is true that national CPI is
quoted “ex food & energy,” however, it does make one
wonder if an understatement in inflation has resulted in
an overstatement of GDP.
We have seen two FOMC meetings since our last commen-
tary on April 30th and June 18th. The message was much
the same although more subdued in June when the FED
stated, “Growth in economic activity has rebounded in
recent months. Labor market indicators generally showed
further improvement. The unemployment rate, though
lower, remains elevated. Household spending appears to
be rising moderately and business fixed investment re-
sumed its advance.” This was a change from April in that
household spending appeared more robust at that time.
The FED will continue the taper stating “Beginning in July,
the Committee will add to its holdings of agency mortgage
-backed securities at a pace of $15 billion per month rather
than $20 billion per month, and will add to its holdings of
longer-term Treasury securities at a pace of $20 billion per
month rather than $25 billion per month.” The FED has
been coming out in speeches over the last few weeks with
language about complacency and other cryptic words for
risk ahead of what they know will be a relatively swift
change in monetary policy as the taper ends. Their con-
cern is for an orderly transition in the markets and not
major dislocations by massive selloffs. The problem that
the FED has identified is that an orderly exit would be the
very best it could hope for, but the reality is the unwind-
ing will increase volatility as it will take time for the mar-
kets to adjust.
The remainder of the year will be a challenge as the world
has been become an even crazier place as of late, geopoliti-
cally speaking, with tensions flaring again in Iraq,
Ukraine, Israel, etc. These events have impacts at home
here in the U.S. particularly in energy prices, interest rates
and potentially, FED policy. The aforementioned volatili-
ty will at times present opportunities for the TPIF and
we’ll continue to invest our depositor’s funds accordingly
Don Kent
Treasurer-Tax Collector
“Major Flop in GDP ”
ATTACHMENT 11
43
Value Change
Nymex Crude 105.37$ 2.66$
Gold (USD/OZ)1,327.32$ 77.59$
Value Change
Dow Jones (DJIA)16,826.60$ 109.43$
S&P 500 Index 1,960.23$ 36.66$
NASDAQ (NDX)4,408.18$ 165.56$
Fed Move 7/30/2014 9/17/2014
Decrease to 0.00%60.0%56.4%
Increase to 0.25%40.0%41.2%
Increase to 0.50%0.0%2.4%
Increase to 0.75%0.0%0.0%
Increase to 1%0.0%0.0%
Current Fed Funds Rate: 0-0.25%
Probability for FOMC Dates:
Current Market Data
Economic Indicators
Stock Indices
Commodities
Fed Funds Target Rate
RIVERSIDE COUNTY TREASURER-TAX COLLECTOR 2
US Treasury Curve (M/M)
FOMC Meeting Schedule
Release %Risk Assessment
April ' 30 0-.25%Risk to Growth
June '18 0-.25%Risk to Growth
Release Date Indicator Consensus Actual
6/6/2014 213,000 217,000
6/6/2014 6.4%6.3%
6/25/2014 0.4%-1.0%
6/25/2014 -1.8%-2.9%
6/24/2014 83.7 85.2%
6/3/2014 0.5%0.7%
6/17/2014 0.2%0.4%Consumer Price Index - M/M change: The Consumer Price Index is a measure of the
average price level of a fixed basket of goods and services purchased by consumers.
Non-Farm Payrolls M/M change: Counts the number of paid employees working part-
time or full-time in the nation's business and government establishments.
Employment Situation: Measures the number of unemployed as a percentage of the
labor force.
Durable Goods Orders - M/M change: Reflects the new orders placed with domestic
manufacturers for immediate and future delivery of factory hard goods.
Real Gross Domestic Product - Q/Q change: The broadest measure of aggregate
economic activity and encompasses every sector of the economy. GDP is the country's
most comprehensive economic scorecard.
Consumer Confidence: Measures consumer attitudes on present economic conditions
and expectations of future conditions.
Factory Orders M/M change: Represents the dollar level of new orders for both
durable and nondurable goods.
44
Fund Symbol 7 Day Yield
Fidelity Prime Institutional MMF FIPXX 0.06%
Federated Prime Obligations Fund POIXX 0.02%
Wells Fargo Advantage Heritage WFJXX 0.07%
Morgan Stanley Institutional Prime Liquidity Fund MPFXX 0.05%
JP Morgan CJPXX 0.04%
AAA Rated Prime Institutional Money-Market Funds
0.39%0.37%0.38%0.38%0.39%0.38%0.33%0.37%0.39%0.40%0.37%0.40%0.42%
0.07%0.06%0.06%0.05%0.05%0.05%0.05%0.04%0.04%0.05%0.05%0.05%0.05%
0.00%
0.20%
0.40%
0.60%
0.80%
1.00%
Jun-13 Aug-13 Oct-13 Dec-13 Feb-14 Apr-14 Jun-14
Pool Yield
TIMMI
The Pooled Investment Fund cash flow requirements are based upon a 12 month historical cash flow model. Based upon projected
cash receipts and maturing investments, there are sufficient funds to meet future cash flow disbursements over the next 12 months.
The Treasurer’s Institutional Money Market Index (TIMMI) is compiled and reported by the Riverside County Treasurer’s Capital
Markets division. It is a composite index derived from four AAA rated prime institutional money market funds. Similar to the
Treasurer’s Office, prime money market funds invest in a diversified portfolio of U.S. dollar denominated money market instru ments
including U.S. Treasuries, government agencies, commercial paper, certificates of deposits, repurchase agreements, etc. TIMMI is
currently comprised of the five multi billion dollar funds listed below.
TIMMI
RIVERSIDE COUNTY TREASURER-TAX COLLECTOR 3
Cash Flows
Month
Monthly
Receipts
Monthly
Disbursements Difference
Required
Matured
Investments Balance
Actual
Investments
Maturing
Available
to Invest >
1 Year
07/2014 138.17
07/2014 1,000.00 950.00 50.00 188.17 1,074.00
08/2014 600.00 725.41 (125.41)62.76 379.70
09/2014 700.00 830.00 (130.00) 67.24 - 266.31
10/2014 757.29 890.00 (132.71) 132.71 - 252.41
11/2014 919.01 703.43 215.58 215.58 142.55
12/2014 1,691.73 850.00 841.73 1,057.31 33.20
01/2015 650.00 1,289.48 (639.48)417.83 380.00
02/2015 650.00 910.86 (260.86)156.97 331.35
03/2015 1,000.00 920.00 80.00 236.97 5.00
04/2015 1,375.00 950.00 425.00 661.97 25.00
05/2015 520.00 1,185.89 (665.89) 3.92 - 153.15
06/2016 750.00 1,220.61 (470.61) 470.61 - 141.30
TOTALS 10,613.03 11,425.68 (812.65) 674.48 3,135.73 3,183.97 4,165.22
13.94%65.79% 86.06%
* All values reported in millions ($).
45
Asset Allocation
RIVERSIDE COUNTY TREASURER-TAX COLLECTOR 4
150,000.00 100.00% 0.10% .003 .003
385,000.00 100.00% 0.06% .003 .003
150,000.00 100.00% 0.08% .003 .003
425.00 100.00% 0.90% 5.964 5.964
285,000.00 100.02% 0.21% .634 .634
38,125.00 100.04% 0.10% .280 .280
238,350.00 100.11% 1.09% 2.001 3.435
58,265.00 100.01% 0.08% .370 .370
781,564.00 99.76% 0.73% 2.714 2.902
140,500.00 100.02% 0.08% .328 .328
903,970.71 99.84% 0.84% 1.172 2.764
416,950.00 100.02% 0.22% .759 .783
10,000.00 100.01% 0.08% .427 .427
280,000.00 100.06% 0.34% .685 1.007
70,700.00 100.00% 0.29% .824 .824
797,493.00 100.01% 0.11% .117 .117
80,000.00 100.00% 0.14% .152 .152
54,000.00 54,000.00
FHLMC DIS C NOTES
FHLMC B ONDS
LOCAL AGCY OB LIG
US TREAS B ONDS 285,120.90
238,294.62
FARMER MAC
FFCB B ONDS
FMAC DIS C NOTES
FHLB DIS C NOTES
FHLB B ONDS
FNMA B ONDS
100.00%
781,310.48
.003
150,000.00 150,000.00
54,000.00 0.40%.003
417,036.20
9,995.95 9,997.00
38,118.8638,103.11
140,447.16 140,479.23
903,952.72
779,413.66
COMM P AP ER 797,231.41 797,349.44
NCDS 80,000.00 80,000.00
279,979.77
238,546.03
285,173.25
WAL (Yr)Mat (Yr)Mkt/ S c h B o o k
902,540.57
Yie ldS c he dule d B o o k
416,938.70
As s e ts (000's )S c he dule d P ar
FNMA DIS C NOTES 58,244.61 58,252.13
S c he dule d
Marke t
425.00 425.00
DDA/P AS S B K
CALTRUS T FND
MUNI B ONDS 70,690.68 70,690.68
REP O 150,000.00 150,000.00
MMKT 385,000.00 385,000.00
280,148.10
46
Maturity Distribution
RIVERSIDE COUNTY TREASURER-TAX COLLECTOR 5
Scheduled Par (000's) 0-1 Mos 1-3 Mos 3-12 Mos 1-2 Yr 2-3 Yr >3 Yr Totals (000's)
REPO 150,000.00 - - - - - 150,000.00
MMKT 385,000.00 - - - - - 385,000.00
CALTRUST FND 54,000.00 - - - - - 54,000.00
DDA/PASSBK 150,000.00 - - - - - 150,000.00
LOCAL AGCY OBLIG - - - - - 425.00 425.00
US TREAS BONDS - - 275,000.00 - - 10,000.00 285.00
FHLMC DISC NOTES - 25,000.00 13,125.00 - - - 38,125.00
FHLMC BONDS - - 5,000.00 46,000.00 29,625.00 157,725.00 238,350.00
FNMA DISC NOTES - - 58,265.00 - - - 58,265.00
FNMA BONDS - - 65,000.00 55,000.00 216,887.00 444,677.00 781,564.00
FHLB DISC NOTES - - 140,500.00 - - - 140,500.00
FHLB BONDS - 55,000.00 280,000.00 25,000.00 78,685.71 465,285.00 903,970.71
FFCB BONDS - 53,800.00 293,150.00 65,000.00 5,000.00 - 416,950.00
FMAC DISC NOTES - - 10,000.00 - - - 10,000.00
FARMER MAC - 25,000.00 185,000.00 40,000.00 - 30,000.00 280,000.00
MUNI BONDS - - 58,630.00 12,070.00 - - 70,700.00
COMM PAPER 255,000.00 487,214.00 55,279.00 - - - 797,493.00
NCDS 20,000.00 60,000.00 - - - - 80,000.00
Totals (000's):1,014,000.00 706,014.00 1,438,949.00 243,070.00 330,197.71 1,108,112.00 4,840,342.71
%20.95% 14.59% 29.73% 5.02% 6.82% 22.89%
Cumulative %20.95% 35.53% 65.26% 70.28% 77.11% 100.00%
47
Credit Quality
NR 570,425.00 570,400.75 570,529.00 100.02% 0.16%
1.01%
0.55%
0.12%
0.42%
Yield
Aaa
Moody (000's)Par Book Market MKT/Book
3,321,610.36
100.02%
Aa 5,000.00
Aa2
3,324,411.433,324,724.71 99.92%
100.01%
Aa3 359,298.20359,428.00
A1
4,998.50
298,645.00 298,601.25
167,120.00 167,075.16
4,989.65 99.82%
4,839,735.13 4,837,170.14
Aa1 298,610.10
359,356.58
99.95%4,840,342.71Totals (000's):
100.00%
115,000.00 114,949.86 114,974.29 100.02%0.13%
0.16%
0.12%
167,100.16
MOODY’S S & P
S&P (000's)
AAA
AA+3,012,664.71 3,012,303.01
AA
AA-385,000.00 384,889.01
NR
Totals (000's):
3,009,456.55
100.00%
0.60%
0.12%100.01%
0.12%
Par Book Market MKT/Book Yield
489,052.25488,981.06489,000.00
570,529.00
384,952.74 100.02%
4,840,342.71 4,839,735.13 4,837,170.14 99.95%0.42%
99.91%
570,425.00 570,400.75
0.12%
0.16%100.02%
383,253.00 383,161.30 383,179.60
RIVERSIDE COUNTY TREASURER-TAX COLLECTOR 6 48
49
Description
Maturity
Date Coupon
Par
Value
Book
Value
Market
Price
Market
Value
Unrealized
Gain/Loss
WELLS FARGO REPO 07/01/2014 .100 150,000,000.00 150,000,000.00 100.000000 150,000,000.00 0.00
.100 150,000,000.00 150,000,000.00 100.000000 150,000,000.00 0.00
CALTRUST HERITAGE 07/01/2014 .067 125,000,000.00 125,000,000.00 100.000000 125,000,000.00 0.00
FIDELITY PRIME 07/01/2014 .064 145,000,000.00 145,000,000.00 100.000000 145,000,000.00 0.00
FEDERATED PRIME 07/01/2014 .019 10,000,000.00 10,000,000.00 100.000000 10,000,000.00 0.00
MORGAN STANLEY
PRIME
07/01/2014 .057 85,000,000.00 85,000,000.00 100.000000 85,000,000.00 0.00
JP MORGAN PRIME 07/01/2014 .034 20,000,000.00 20,000,000.00 100.000000 20,000,000.00 0.00
.060 385,000,000.00 385,000,000.00 100.000000 385,000,000.00 0.00
CALTRUST SHT TERM
FUND
07/01/2014 .403 54,000,000.00 54,000,000.00 100.000000 54,000,000.00 0.00
.403 54,000,000.00 54,000,000.00 100.000000 54,000,000.00 0.00
UB MANAGED RATE 07/01/2014 .079 150,000,000.00 150,000,000.00 100.000000 150,000,000.00 0.00
.079 150,000,000.00 150,000,000.00 100.000000 150,000,000.00 0.00
US DIST COURTHOUSE 06/15/2020 .897 425,000.00 425,000.00 100.000000 425,000.00 0.00
.897 425,000.00 425,000.00 100.000000 425,000.00 0.00
U.S. TREASURY BOND 10/31/2014 .250 25,000,000.00 25,017,578.13 100.051000 25,012,750.00 -4,828.13
U.S. TREASURY BOND 10/31/2014 .250 25,000,000.00 25,016,601.56 100.051000 25,012,750.00 -3,851.56
U.S. TREASURY BOND 02/28/2015 .250 25,000,000.00 25,017,578.13 100.105000 25,026,250.00 8,671.87
U.S. TREASURY BOND 02/15/2015 .250 25,000,000.00 25,018,554.69 100.109000 25,027,250.00 8,695.31
U.S. TREASURY BOND 02/28/2015 .250 25,000,000.00 25,017,578.13 100.105000 25,026,250.00 8,671.87
U.S. TREASURY BOND 01/31/2015 .250 25,000,000.00 25,020,507.81 100.098000 25,024,500.00 3,992.19
U.S. TREASURY BOND 01/15/2015 .250 25,000,000.00 25,020,507.81 100.094000 25,023,500.00 2,992.19
U.S. TREASURY BOND 01/15/2015 .250 25,000,000.00 25,020,507.81 100.094000 25,023,500.00 2,992.19
U.S. TREASURY BOND 01/15/2015 .250 25,000,000.00 25,021,484.38 100.094000 25,023,500.00 2,015.62
U.S. TREASURY BOND 01/31/2015 .250 25,000,000.00 25,021,484.38 100.098000 25,024,500.00 3,015.62
U.S. TREASURY BOND 01/15/2015 .250 25,000,000.00 25,019,531.25 100.094000 25,023,500.00 3,968.75
U.S. TREASURY BOND 08/31/2017 .625 5,000,000.00 4,937,109.38 98.906000 4,945,300.00 8,190.62
U.S. TREASURY BOND 06/30/2017 .750 5,000,000.00 4,971,875.00 99.594000 4,979,700.00 7,825.00
.265 285,000,000.00 285,120,898.46 100.060789 285,173,250.00 52,351.54
FHLMC-DISC NOTE 09/09/2014 .100 25,000,000.00 24,985,069.44 99.992000 24,998,000.00 12,930.56
FHLMC-DISC NOTE 01/02/2015 .100 5,000,000.00 4,996,152.78 99.959000 4,997,950.00 1,797.22
FHLMC-DISC NOTE 12/01/2014 .081 3,125,000.00 3,123,741.41 99.970000 3,124,062.50 321.09
FHLMC-DISC NOTE 11/18/2014 .083 5,000,000.00 4,998,143.75 99.977000 4,998,850.00 706.25
.096 38,125,000.00 38,103,107.38 99.983902 38,118,862.50 15,755.12
FHLMC 4Yr 11/01/2016 .625 10,000,000.00 9,991,200.00 100.103000 10,010,300.00 19,100.00
FHLMC 2Yr 12/03/2014 .320 5,000,000.00 5,000,000.00 100.084000 5,004,200.00 4,200.00
FHLMC 3YrNc2YrB 01/28/2016 .500 5,000,000.00 5,000,000.00 100.039000 5,001,950.00 1,950.00
FHLMC 3YrNc2YrB 01/28/2016 .500 5,000,000.00 5,000,000.00 100.039000 5,001,950.00 1,950.00
FHLMC 3YrNc2YrE 01/28/2016 .500 5,000,000.00 5,000,000.00 100.039000 5,001,950.00 1,950.00
FHLMC 3YrNc2YrB 01/28/2016 .500 5,000,000.00 5,000,000.00 100.039000 5,001,950.00 1,950.00
FHLMC 3YrNc2YrB 01/28/2016 .500 5,000,000.00 5,000,000.00 100.039000 5,001,950.00 1,950.00
FHLMC 3YrNc2YrB 01/28/2016 .500 10,000,000.00 9,998,000.00 100.039000 10,003,900.00 5,900.00
FHLMC 3YrNc2YrE 01/28/2016 .500 6,000,000.00 5,998,800.00 100.039000 6,002,340.00 3,540.00
FHLMC 3YrNc1YrE 01/15/2016 .450 5,000,000.00 5,000,000.00 100.079000 5,003,950.00 3,950.00
FHLMC 4Yr 11/01/2016 .625 4,625,000.00 4,629,301.25 100.103000 4,629,763.75 462.50
FHLMC 3.5YrNc3MoB 09/14/2016 .650 5,000,000.00 5,000,000.00 99.887000 4,994,350.00 -5,650.00
FHLMC 3YrNc3MoB 09/14/2016 .650 5,000,000.00 4,999,000.00 99.887000 4,994,350.00 -4,650.00
FHLMC 3.5YrNc3MoB 09/14/2016 .650 5,000,000.00 5,000,000.00 99.887000 4,994,350.00 -5,650.00
FHLMC 5YrNc6MoB 12/18/2018 1.500 5,000,000.00 5,000,000.00 100.195000 5,009,750.00 9,750.00
FHLMC 5YrNc6MoB 12/18/2018 1.375 10,000,000.00 10,000,000.00 100.175000 10,017,500.00 17,500.00
FHLMC 5YrNc6MoB 12/17/2018 1.375 5,000,000.00 5,000,000.00 100.174000 5,008,700.00 8,700.00
FHLMC 5YrNc6MoB 12/17/2018 1.375 2,675,000.00 2,668,981.25 100.174000 2,679,654.50 10,673.25
FHLMC 5YrNc6MoB 12/27/2018 1.500 13,300,000.00 13,300,000.00 100.232000 13,330,856.00 30,856.00
FHLMC 4YrNc6MoB 12/27/2017 .750 5,000,000.00 5,000,000.00 100.105000 5,005,250.00 5,250.00
FHLMC 5YrNc6MoB 12/27/2018 1.500 10,000,000.00 10,000,000.00 100.232000 10,023,200.00 23,200.00
FHLMC 5YrNc6MoB 12/27/2018 1.150 10,000,000.00 10,000,000.00 100.162000 10,016,200.00 16,200.00
FHLMC 5YrNc6MoB 01/30/2019 1.625 6,750,000.00 6,750,000.00 100.124000 6,758,370.00 8,370.00
FHLMC 5YrNc6MoB 01/30/2019 1.625 10,000,000.00 10,000,000.00 100.124000 10,012,400.00 12,400.00
FHLMC 5YrNc6MoB 02/28/2019 1.500 20,000,000.00 20,000,000.00 100.197000 20,039,400.00 39,400.00
FHLMC 5YrNc6MoB 02/28/2019 1.500 5,000,000.00 5,000,000.00 100.212000 5,010,600.00 10,600.00
FHLMC 5YrNc6MoB 02/28/2019 1.500 15,000,000.00 15,000,000.00 100.197000 15,029,550.00 29,550.00
FHLMC 5YrNc6MoB 02/28/2019 1.500 5,000,000.00 4,997,500.00 100.212000 5,010,600.00 13,100.00
FHLMC 5YrNc6MoB 03/11/2019 1.500 5,000,000.00 5,000,000.00 100.171000 5,008,550.00 8,550.00
FHLMC 3.5Yr 09/29/2017 1.000 10,000,000.00 9,997,340.00 99.794000 9,979,400.00 -17,940.00
FHLMC 3.5Yr 09/29/2017 1.000 10,000,000.00 9,996,800.00 99.794000 9,979,400.00 -17,400.00
FHLMC 3.25Yr 09/29/2017 1.000 10,000,000.00 9,967,700.00 99.794000 9,979,400.00 11,700.00
1.080 238,350,000.00 238,294,622.50 100.082246 238,546,034.25 251,411.75
FNMA DISC NOTE 10/29/2014 .065 25,000,000.00 24,992,190.97 99.983000 24,995,750.00 3,559.03
FNMA DISC NOTE 11/12/2014 .080 9,800,000.00 9,796,493.78 99.978000 9,797,844.00 1,350.22
FNMA DISC NOTE 12/03/2014 .080 5,000,000.00 4,998,033.33 99.970000 4,998,500.00 466.67
FNMA DISC NOTE 12/03/2014 .080 5,075,000.00 5,073,026.39 99.970000 5,073,477.50 451.11
FNMA DISC NOTE 11/19/2014 .080 5,010,000.00 5,008,229.80 99.976000 5,008,797.60 567.80
FNMA DISC NOTE 11/12/2014 .090 3,380,000.00 3,378,749.40 99.978000 3,379,256.40 507.00
FNMA DISC NOTE 12/03/2014 .090 5,000,000.00 4,997,887.50 99.970000 4,998,500.00 612.50
.075 58,265,000.00 58,244,611.17 99.977904 58,252,125.50 7,514.33
FNMA 5Yr 02/04/2016 .253 10,000,000.00 9,990,000.00 100.190000 10,019,000.00 29,000.00
FNMA 5YrNc1YrB 07/10/2017 .850 4,980,000.00 4,980,000.00 99.974000 4,978,705.20 -1,294.80
FNMA 5YrNc1YrB 07/26/2017 1.150 5,000,000.00 5,000,000.00 99.964000 4,998,200.00 -1,800.00
FNMA 5YrNc2YrB 07/25/2017 .750 10,000,000.00 10,000,000.00 100.045000 10,004,500.00 4,500.00
Month End Portfolio Holdings
Yield To
Maturity
Modified
Duration
Years To
MaturityCUSIP
Fund: 1 POOL FUND
REPOS
REPO .100 .003 .003
.100 .003 .003
WFJXX .067 .003 .003
MMKT
FIPXX .064 .003 .003
.019 .003 .003POIXX
.057 .003 .003
CJPXX .034 .003 .003
MPFXX
.060 .003 .003
CALTRUST FND
CLTR .403 .003 .003
.403 .003 .003
DDA/PASSBK
CASH .079 .003 .003
.079 .003 .003
LOCAL AGCY OBLIG
LAO .897 3.093 5.964
.897 3.093 5.964
912828TU4 .184 .336 .337
US TREAS BONDS
912828TU4 .187 .336 .337
912828UP3 .197 .665 .666
912828SE1 .192 .624 .630
912828UP3 .197 .665 .666
912828UK4 .182 .582 .589
912828RZ5 .180 .541 .545
912828RZ5 .180 .541 .545
912828RZ5 .173 .541 .545
912828UK4 .176 .582 .589
.179 .541 .545912828RZ5
1.013 3.118 3.173
912828TB6 .932 2.958 3.003
912828TM2
.212 .628 .633
FHLMC DISC NOTES
.100 .194 .195
313396AB9 .100 .509 .510
313397F22
FHLMC BONDS
313397R52 .081 .421 .422
313397P88 .083 .386 .386
.096 .279 .280
3134G3S50 .647 2.313 2.342
3134G32E9 .320 .426 .427
3134G34B3 .500 1.566 1.581
3134G34B3 .500 1.566 1.581
3134G34B3 .500 1.566 1.581
3134G34B3 .500 1.566 1.581
3134G34B3 .500 1.566 1.581
3134G34B3 .507 1.566 1.581
3134G34B3 .507 1.566 1.581
3134G33R9 .450 1.531 1.545
3134G3S50 .600 2.314 2.342
3134G36J4 .650 2.182 2.211
3134G36J4 .656 2.182 2.211
3134G36J4 .650 2.182 2.211
3134G4MB1 1.500 4.303 4.471
3134G4M88 1.375 4.316 4.471
3134G4PC6 1.375 4.313 4.468
3134G4PC6 1.422 4.312 4.468
3134G4QA9 1.500 4.328 4.496
3134G4Q68 .750 3.440 3.496
3134G4QQ4 1.500 4.328 4.496
3134G4RC4 1.150 4.365 4.496
3134G4T81 1.625 4.370 4.589
3134G4T81 1.625 4.370 4.589
3134G4V39 1.500 4.469 4.668
3134G4VL9 1.500 4.469 4.668
3134G4V39 1.500 4.469 4.668
1.510 4.469 4.6683134G4VL9
1.500 4.499 4.699
3137EADL0 1.008 3.179 3.252
3134G4VM7
FNMA DISC NOTES
1.009 3.179 3.252
1.100 3.178 3.252
3137EADL0
3137EADL0
1.087 3.324 3.436
313589M42 .065 .331 .332
313589P23 .080 .369 .370
313589R70 .080 .427 .427
313589R70 .080 .427 .427
313589P98 .080 .388 .389
313589P23 .090 .369 .370
313589R70 .090 .427 .427
.075 .369 .370
3136FP6X0 .310 1.589 1.600
FNMA BONDS
3136G0PU9 .850 2.980 3.030
3136G0RT0 1.150 2.996 3.074
3136G0RW3 .750 3.019 3.071
RIVERISIDE COUNTY TREASURER-TAX COLLECTOR 750
Description
Maturity
Date Coupon
Par
Value
Book
Value
Market
Price
Market
Value
Unrealized
Gain/Loss
Month End Portfolio Holdings
Yield To
Maturity
Modified
Duration
Years To
MaturityCUSIP
FNMA 5YrNc1YrB 08/15/2017 .750 5,000,000.00 5,000,000.00 99.926000 4,996,300.00 -3,700.00
FNMA 5YrNc1YrB 08/16/2017 .750 5,000,000.00 5,000,000.00 100.079000 5,003,950.00 3,950.00
FNMA 5YrNc1YrB 08/28/2017 .875 10,000,000.00 10,000,000.00 99.806000 9,980,600.00 -19,400.00
FNMA 5YrNc1YrB 09/20/2017 .700 5,000,000.00 5,000,000.00 100.037000 5,001,850.00 1,850.00
FNMA 5YrNc1YrB 09/27/2017 .700 5,000,000.00 5,000,000.00 100.101000 5,005,050.00 5,050.00
FNMA 5YrNc1YrB 09/27/2017 .700 5,000,000.00 5,000,000.00 100.101000 5,005,050.00 5,050.00
FNMA 5YrNc1YrB 09/20/2017 .700 5,000,000.00 5,000,000.00 100.037000 5,001,850.00 1,850.00
FNMA 5YrNc1YrB 11/08/2017 .700 10,000,000.00 10,000,000.00 100.030000 10,003,000.00 3,000.00
FNMA 3YrNc1YrE 10/22/2015 .500 5,000,000.00 5,001,562.50 100.288000 5,014,400.00 12,837.50
FNMA 3YrNc2YrE 11/06/2015 .500 10,000,000.00 10,000,000.00 100.076000 10,007,600.00 7,600.00
FNMA 3YrNc2YrE 11/25/2015 .480 10,000,000.00 10,000,000.00 99.991000 9,999,100.00 -900.00
FNMA 3.5YrNc2YrE 05/26/2016 .550 5,000,000.00 5,000,000.00 99.838000 4,991,900.00 -8,100.00
FNMA 4YrNc1YrB 11/07/2016 .600 5,000,000.00 5,000,000.00 100.043000 5,002,150.00 2,150.00
FNMA 5YrNc6MoB 11/07/2017 .750 5,250,000.00 5,250,000.00 99.816000 5,240,340.00 -9,660.00
FNMA 5YrNc1YrB 12/18/2017 .750 10,000,000.00 10,000,000.00 99.957000 9,995,700.00 -4,300.00
FNMA 3YrNc1YrE 11/06/2015 .500 5,000,000.00 5,000,000.00 100.076000 5,003,800.00 3,800.00
FNMA 5YrNc1YrB 12/13/2017 .800 5,000,000.00 5,000,000.00 99.822000 4,991,100.00 -8,900.00
FNMA 5YrNc1YrB 12/18/2017 .750 8,752,000.00 8,752,000.00 99.957000 8,748,236.64 -3,763.36
FNMA 5YrNc1YrB 12/13/2017 .750 5,000,000.00 5,000,000.00 99.661000 4,983,050.00 -16,950.00
FNMA 5YrNc1YrB 12/26/2017 .750 10,000,000.00 10,000,000.00 99.183000 9,918,300.00 -81,700.00
FNMA 5YrNc1YrB 12/27/2017 .800 5,000,000.00 5,000,000.00 99.411000 4,970,550.00 -29,450.00
FNMA 5YrNc1YrB 12/13/2017 .800 5,000,000.00 5,000,000.00 99.822000 4,991,100.00 -8,900.00
FNMA 5YrNc1YrB 12/26/2017 .700 8,750,000.00 8,750,000.00 99.813000 8,733,637.50 -16,362.50
FNMA 5YrNc1YrB 12/26/2017 .700 10,000,000.00 10,000,000.00 99.874000 9,987,400.00 -12,600.00
FNMA 5YrNc1YrB 01/30/2018 .750 5,000,000.00 5,000,000.00 99.936000 4,996,800.00 -3,200.00
FNMA 5YrNc1YrB 01/30/2018 .700 5,000,000.00 5,000,000.00 99.476000 4,973,800.00 -26,200.00
FNMA 5YrNc6MoB 01/30/2018 .700 7,200,000.00 7,200,000.00 100.033000 7,202,376.00 2,376.00
FNMA 5YrNc1YrB 01/29/2018 .800 10,000,000.00 10,000,000.00 99.941000 9,994,100.00 -5,900.00
FNMA 5YrNc1YrB 01/30/2018 .700 10,000,000.00 10,000,000.00 99.396000 9,939,600.00 -60,400.00
FNMA 5YrNc1YrB 01/30/2018 .750 4,500,000.00 4,500,000.00 99.867000 4,494,015.00 -5,985.00
FNMA 5YrNc1YrB 01/30/2018 .700 10,000,000.00 10,000,000.00 99.659000 9,965,900.00 -34,100.00
FNMA 5YrNc1YrB 02/28/2018 .800 15,000,000.00 15,000,000.00 99.926000 14,988,900.00 -11,100.00
FNMA 5YrNc1YrB 02/28/2018 1.000 10,000,000.00 10,000,000.00 99.793000 9,979,300.00 -20,700.00
FNMA 5YrNc1YrB 02/28/2018 1.000 5,000,000.00 4,998,500.00 99.793000 4,989,650.00 -8,850.00
FNMA 5YrNc6MoB 02/28/2018 1.000 10,000,000.00 10,000,000.00 99.579000 9,957,900.00 -42,100.00
FNMA 5YrNc1YrB 02/20/2018 .800 5,000,000.00 4,993,750.00 99.735000 4,986,750.00 -7,000.00
FNMA 5YrNc6MoB 02/28/2018 1.000 10,000,000.00 10,000,000.00 99.579000 9,957,900.00 -42,100.00
FNMA 5YrNc6MoB 03/06/2018 1.000 10,000,000.00 10,000,000.00 99.556000 9,955,600.00 -44,400.00
FNMA 5YrNc6MoB 03/19/2018 1.000 5,000,000.00 4,998,750.00 99.538000 4,976,900.00 -21,850.00
FNMA 5YrNc6MoB 03/19/2018 1.000 10,000,000.00 10,000,000.00 99.538000 9,953,800.00 -46,200.00
FNMA 5YrNc6MoB 03/19/2018 1.000 5,000,000.00 5,000,000.00 99.538000 4,976,900.00 -23,100.00
FNMA 5YrNc6MoB 03/27/2018 1.000 5,000,000.00 5,000,000.00 100.142000 5,007,100.00 7,100.00
FNMA 5YrNc1YrB 03/27/2018 .800 5,000,000.00 5,000,000.00 99.701000 4,985,050.00 -14,950.00
FNMA 3.5YrNc6MoB 09/27/2016 .625 5,500,000.00 5,498,350.00 99.725000 5,484,875.00 -13,475.00
FNMA 3.5YrNc6MoB 09/27/2016 .625 5,000,000.00 5,000,000.00 99.725000 4,986,250.00 -13,750.00
FNMA 5YrNc6MoB 03/19/2018 1.000 10,000,000.00 10,000,000.00 99.538000 9,953,800.00 -46,200.00
FNMA 5YrNc1YrB 03/28/2018 .850 5,000,000.00 5,000,000.00 99.591000 4,979,550.00 -20,450.00
FNMA 5YrNc1YrB 03/28/2018 .800 5,000,000.00 5,000,000.00 99.500000 4,975,000.00 -25,000.00
FNMA 5YrNc6MoB 03/20/2018 .750 5,000,000.00 4,996,250.00 99.968000 4,998,400.00 2,150.00
FNMA 5YrNc1YrB 03/28/2018 .800 5,000,000.00 5,000,000.00 99.574000 4,978,700.00 -21,300.00
FNMA 3YrNc6MoB 09/26/2016 .650 5,000,000.00 5,000,000.00 99.850000 4,992,500.00 -7,500.00
FNMA 3.5YrNc6MoB 10/25/2016 .700 5,000,000.00 5,000,000.00 99.700000 4,985,000.00 -15,000.00
FNMA 3.5YrNc6MoB 10/25/2016 .700 5,000,000.00 5,000,000.00 99.700000 4,985,000.00 -15,000.00
FNMA 3.5YrNc6MoB 10/25/2016 .700 5,000,000.00 5,000,000.00 99.700000 4,985,000.00 -15,000.00
FNMA 3.5YrNc6MoB 10/25/2016 .700 10,000,000.00 10,000,000.00 99.700000 9,970,000.00 -30,000.00
FNMA 3.5YrNc6MoB 10/25/2016 .700 5,000,000.00 5,000,000.00 99.700000 4,985,000.00 -15,000.00
FNMA 3.5YrNc6MoB 10/25/2016 .700 10,000,000.00 10,000,000.00 99.700000 9,970,000.00 -30,000.00
FNMA 3.5YrNc6MoB 10/25/2016 .700 10,000,000.00 10,000,000.00 99.700000 9,970,000.00 -30,000.00
FNMA 5YrNc6MoC 04/24/2018 .800 10,000,000.00 10,000,000.00 99.259000 9,925,900.00 -74,100.00
FNMA 3.5YrNc6MoB 10/25/2016 .700 5,000,000.00 5,000,000.00 99.700000 4,985,000.00 -15,000.00
FNMA 5YrNc6MoC 04/16/2018 .875 10,000,000.00 10,000,000.00 99.215000 9,921,500.00 -78,500.00
FNMA 5YrNc6MoB 04/30/2018 .750 10,000,000.00 10,000,000.00 99.316000 9,931,600.00 -68,400.00
FNMA 3.5YrNc6MoB 10/25/2016 .625 5,000,000.00 5,000,000.00 99.644000 4,982,200.00 -17,800.00
FNMA 3.5YrNc6MoB 10/25/2016 .625 10,000,000.00 10,000,000.00 99.644000 9,964,400.00 -35,600.00
FNMA 3.5YrNc6MoB 10/25/2016 .625 10,000,000.00 10,000,000.00 99.644000 9,964,400.00 -35,600.00
FNMA 5YrNc1YrB 04/16/2018 .875 5,000,000.00 5,000,000.00 99.215000 4,960,750.00 -39,250.00
FNMA 3.5YrNc6MoB 10/25/2016 .625 20,000,000.00 20,000,000.00 99.644000 19,928,800.00 -71,200.00
FNMA 3.5YrNc6MoB 11/15/2016 .600 10,000,000.00 10,000,000.00 99.519000 9,951,900.00 -48,100.00
FNMA 5YrNc6MoB 04/18/2018 1.000 5,610,000.00 5,610,000.00 99.188000 5,564,446.80 -45,553.20
FNMA 3.5YrNc1YrB 11/15/2016 .600 10,000,000.00 10,000,000.00 99.519000 9,951,900.00 -48,100.00
FNMA 3YrNc6MoB 05/20/2016 .520 10,000,000.00 10,000,000.00 99.751000 9,975,100.00 -24,900.00
FNMA 5YrNc6MoB 05/08/2018 .800 5,000,000.00 5,000,000.00 99.647000 4,982,350.00 -17,650.00
FNMA 3.5YrNc6MoB 12/27/2016 .680 12,000,000.00 12,006,600.00 99.516000 11,941,920.00 -64,680.00
FNMA 3.5YrNc1YrE 11/15/2016 .600 5,000,000.00 5,000,000.00 99.519000 4,975,950.00 -24,050.00
FNMA 3.5YrNc1YrE 11/15/2016 .600 5,000,000.00 5,000,000.00 99.519000 4,975,950.00 -24,050.00
FNMA 3.5YrNc1YrE 11/15/2016 .600 5,000,000.00 5,000,000.00 99.519000 4,975,950.00 -24,050.00
FNMA 3.5YrNc1YrE 11/15/2016 .600 10,000,000.00 10,000,000.00 99.519000 9,951,900.00 -48,100.00
FNMA 3.5YrNc1YrE 11/15/2016 .600 5,000,000.00 5,000,000.00 99.519000 4,975,950.00 -24,050.00
FNMA 5YrNc6MoB 04/30/2018 .750 5,000,000.00 5,000,000.00 99.316000 4,965,800.00 -34,200.00
FNMA 5YrNc6MoB 05/08/2018 .800 21,750,000.00 21,750,000.00 99.647000 21,673,222.50 -76,777.50
FNMA 3.5YrNc1YrB 11/28/2016 .500 10,000,000.00 9,996,000.00 99.370000 9,937,000.00 -59,000.00
FNMA 3.5YrNc1YrB 11/15/2016 .600 3,635,000.00 3,635,000.00 99.519000 3,617,515.65 -17,484.35
FNMA 3.5YrNc1YrB 11/15/2016 .600 10,000,000.00 9,998,500.00 99.519000 9,951,900.00 -46,600.00
FNMA 3.5YrNc1YrB 11/15/2016 .600 10,000,000.00 10,000,000.00 99.519000 9,951,900.00 -48,100.00
FNMA 3.5YrNc1YrB 11/28/2016 .500 752,000.00 739,216.00 99.370000 747,262.40 8,046.40
FNMA 5YrNc6MoB 06/12/2018 .850 10,000,000.00 9,911,500.00 99.617000 9,961,700.00 50,200.00
FNMA 5YrNc6MoB 01/30/2019 1.650 5,000,000.00 5,000,000.00 100.125000 5,006,250.00 6,250.00
FNMA 5YrNc6MoB 01/30/2019 1.650 12,885,000.00 12,885,000.00 100.125000 12,901,106.25 16,106.25
FNMA 1Yr 05/27/2015 .500 20,000,000.00 20,078,200.00 100.276000 20,055,200.00 -23,000.00
FNMA 1.25Yr 05/27/2015 .500 20,000,000.00 20,084,102.60 100.276000 20,055,200.00 -28,902.60
3136G0TZ4 .750 3.074 3.129
3136G0UX7 .750 3.077 3.132
3136G0YU9 .875 3.108 3.164
3136G0B59 .700 3.175 3.227
3136G0E64 .700 3.194 3.247
3136G0E64 .700 3.194 3.247
3136G0B59 .700 3.175 3.227
3136G0W49 .700 3.308 3.362
3135G0QB2 .489 1.304 1.312
3135G0RS4 .500 1.343 1.353
3135G0RY1 .480 1.396 1.405
3135G0RZ8 .550 1.892 1.907
3136G0Y21 .600 2.336 2.359
3136G03B5 .750 3.309 3.359
3136G12F5 .750 3.415 3.471
3135G0RS4 .500 1.343 1.353
3136G13S6 .800 3.398 3.458
3136G12F5 .750 3.415 3.471
3136G12D0 .750 3.406 3.458
3136G14Q9 .750 3.437 3.493
3136G16J3 .800 3.445 3.496
3136G13S6 .800 3.398 3.458
3136G17E3 .700 3.443 3.493
3136G1A66 .700 3.440 3.493
3136G1B40 .750 3.518 3.589
3136G1B32 .700 3.523 3.589
3136G1AQ2 .700 3.523 3.589
3136G1C56 .800 3.511 3.586
3136G1AJ8 .700 3.523 3.589
3136G1AY5 .750 3.518 3.589
3136G1BF5 .700 3.523 3.589
3136G1D97 .800 3.597 3.668
3136G1DA4 1.000 3.580 3.668
3136G1DA4 1.006 3.580 3.668
3136G1DB2 1.000 3.580 3.668
3136G1CW7 .826 3.569 3.647
3136G1DB2 1.000 3.580 3.668
3136G1ET2 1.000 3.596 3.685
3136G1FW4 1.005 3.632 3.721
3136G1FW4 1.000 3.632 3.721
3136G1FW4 1.000 3.632 3.721
3136G1GS2 1.000 3.688 3.742
3136G1GN3 .800 3.672 3.742
3136G1GR4 .634 2.219 2.247
3136G1GR4 .625 2.219 2.247
3136G1FW4 1.000 3.632 3.721
3136G1HC6 .850 3.670 3.745
3136G1HB8 .800 3.674 3.745
3136G1HE2 .765 3.656 3.723
3136G1HP7 .800 3.674 3.745
3135G0VQ3 .650 2.216 2.244
3135G0WE9 .700 2.294 2.323
3135G0WE9 .700 2.294 2.323
3135G0WE9 .700 2.294 2.323
3135G0WE9 .700 2.294 2.323
3135G0WE9 .700 2.294 2.323
3135G0WE9 .700 2.294 2.323
3135G0WE9 .700 2.294 2.323
3136G1JY6 .800 3.746 3.819
3135G0WE9 .700 2.294 2.323
3136G1KB4 .875 3.726 3.797
3136G1KJ7 .750 3.767 3.836
3135G0WL3 .625 2.297 2.323
3135G0WL3 .625 2.297 2.323
3135G0WL3 .625 2.297 2.323
3136G1KB4 .875 3.726 3.797
3135G0WL3 .625 2.297 2.323
3135G0WS8 .600 2.353 2.381
3136G1JW0 1.000 3.729 3.803
3135G0WS8 .600 2.353 2.381
3135G0WW9 .520 1.876 1.890
3136G1KW8 .800 3.785 3.858
3136G14F3 .665 2.467 2.496
3135G0WS8 .600 2.353 2.381
3135G0WS8 .600 2.353 2.381
3135G0WS8 .600 2.353 2.381
3135G0WS8 .600 2.353 2.381
3135G0WS8 .600 2.353 2.381
3136G1KJ7 .750 3.767 3.836
3136G1KW8 .800 3.785 3.858
3136G1LT4 .512 2.393 2.416
3135G0WS8 .600 2.353 2.381
.604 2.353 2.3813135G0WS8
.600 2.353 2.381
3136G1LT4 1.009 2.387 2.416
3135G0WS8
3136G1MU0 1.077 3.873 3.953
3136G1YU7 1.650 4.367 4.589
3136G1YU7 1.650 4.367 4.589
3135G0KM4 .182 .906 .907
3135G0KM4 .157 .906 .907
RIVERISIDE COUNTY TREASURER-TAX COLLECTOR 851
Description
Maturity
Date Coupon
Par
Value
Book
Value
Market
Price
Market
Value
Unrealized
Gain/Loss
Month End Portfolio Holdings
Yield To
Maturity
Modified
Duration
Years To
MaturityCUSIP
FNMA 3.5Yr 10/26/2017 .875 10,000,000.00 9,905,700.00 99.266000 9,926,600.00 20,900.00
FNMA 1Yr 05/27/2015 .500 25,000,000.00 25,100,000.00 100.276000 25,069,000.00 -31,000.00
FNMA 4Yr 05/21/2018 .875 15,000,000.00 14,701,500.00 98.322000 14,748,300.00 46,800.00
.738 781,564,000.00 781,310,481.10 99.724867 779,413,658.94 -1,896,822.16
FHLB DISC NOTE 10/10/2014 .080 10,000,000.00 9,996,044.44 99.988778 9,998,877.78 2,833.34
FHLB DISC NOTE 10/15/2014 .075 5,000,000.00 4,998,104.15 99.988222 4,999,411.11 1,306.96
FHLB DISC NOTE 10/10/2014 .075 5,000,000.00 4,998,208.33 99.988778 4,999,438.89 1,230.56
FHLB DISC NOTE 10/10/2014 .075 15,500,000.00 15,494,510.42 99.988778 15,498,260.56 3,750.14
FHLB DISC NOTE 10/17/2014 .075 10,000,000.00 9,996,354.17 99.988000 9,998,800.00 2,445.83
FHLB DISC NOTE 10/22/2014 .075 10,000,000.00 9,996,250.00 99.987444 9,998,744.44 2,494.44
FHLB DISC NOTE 10/22/2014 .075 10,000,000.00 9,996,250.00 99.987444 9,998,744.44 2,494.44
FHLB DISC NOTE 10/24/2014 .775 10,000,000.00 9,996,189.58 99.987222 9,998,722.22 2,532.64
FHLB DISC NOTE 10/22/2014 .075 5,000,000.00 4,998,197.92 99.987444 4,999,372.22 1,174.30
FHLB DISC NOTE 10/29/2014 .075 5,000,000.00 4,998,177.08 99.983333 4,999,166.67 989.59
FHLB DISC NOTE 11/05/2014 .078 5,000,000.00 4,998,062.50 99.982361 4,999,118.06 1,055.56
FHLB DISC NOTE 11/05/2014 .077 10,000,000.00 9,996,214.17 99.982361 9,998,236.11 2,021.94
FHLB DISC NOTE 11/07/2014 .078 5,000,000.00 4,998,073.26 99.982083 4,999,104.17 1,030.91
FHLB DISC NOTE 11/12/2014 .078 5,000,000.00 4,998,050.00 99.981389 4,999,069.44 1,019.44
FHLB DISC NOTE 11/14/2014 .076 5,000,000.00 4,998,131.67 99.981111 4,999,055.56 923.89
FHLB DISC NOTE 11/19/2014 .075 10,000,000.00 9,996,229.17 99.980417 9,998,041.67 1,812.50
FHLB DISC NOTE 11/19/2014 .078 15,000,000.00 14,994,117.50 99.980417 14,997,062.50 2,945.00
.126 140,500,000.00 140,447,164.36 99.985214 140,479,225.84 32,061.48
FHLB 4Yr 02/04/2015 .163 15,000,000.00 15,000,000.00 100.034000 15,005,100.00 5,100.00
FHLB 3Yr 05/22/2015 .500 5,000,000.00 5,000,000.00 100.295000 5,014,750.00 14,750.00
FHLB 3Yr 05/04/2015 .700 15,000,000.00 15,000,000.00 100.418000 15,062,700.00 62,700.00
FHLB 5YrNc3MoB 10/10/2017 .625 10,000,000.00 10,000,000.00 100.010000 10,001,000.00 1,000.00
FHLB 3Yr 01/16/2015 .250 5,000,000.00 4,994,000.00 100.072000 5,003,600.00 9,600.00
FHLB 2Yr 02/20/2015 .250 5,000,000.00 4,995,550.00 100.069000 5,003,450.00 7,900.00
FHLB 3.5YrNc6MoB 07/29/2016 .575 5,000,000.00 4,989,500.00 99.990000 4,999,500.00 10,000.00
FHLB 5YrNc3MoB 02/13/2018 .650 7,350,000.00 7,350,000.00 100.028000 7,352,058.00 2,058.00
FHLB 5YrNc6MoB 04/25/2018 .800 10,000,000.00 10,000,000.00 99.724000 9,972,400.00 -27,600.00
FHLB 5YrNc3MoB 04/25/2018 .850 8,350,000.00 8,350,000.00 99.593000 8,316,015.50 -33,984.50
FHLB 3.5YrNc3MoB 10/11/2016 .625 9,400,000.00 9,400,000.00 99.884000 9,389,096.00 -10,904.00
FHLB 3.5YrNc3MoB 10/24/2016 .550 10,000,000.00 10,000,000.00 99.838000 9,983,800.00 -16,200.00
FHLB 4YrNc3MoA 10/11/2016 .700 4,285,714.00 4,285,714.00 100.006000 4,285,971.14 257.14
FHLB 5YrNc6MoB 05/21/2018 .750 12,000,000.00 12,000,000.00 99.013000 11,881,560.00 -118,440.00
FHLB 5YrNC3MoB 05/23/2018 .750 10,000,000.00 10,000,000.00 99.026000 9,902,600.00 -97,400.00
FHLB 5YrNc6MoB 05/25/2018 .750 10,000,000.00 10,000,000.00 99.167000 9,916,700.00 -83,300.00
FHLB 5YrNc6MoB 05/29/2018 .750 5,000,000.00 5,000,000.00 99.372000 4,968,600.00 -31,400.00
FHLB 5YrNc1YrB 06/12/2018 .800 10,000,000.00 10,000,000.00 99.276000 9,927,600.00 -72,400.00
FHLB 5YrNc1YrB 06/12/2018 .800 10,000,000.00 10,000,000.00 99.276000 9,927,600.00 -72,400.00
FHLB 5YrNc3MoB 06/19/2018 .875 5,000,000.00 5,000,000.00 99.045000 4,952,250.00 -47,750.00
FHLB 5YrNc3MoB 06/19/2018 .875 5,000,000.00 5,000,000.00 99.045000 4,952,250.00 -47,750.00
FHLB 5YrNc3MoB 06/19/2018 .875 5,000,000.00 5,000,000.00 99.045000 4,952,250.00 -47,750.00
FHLB 5YrNc3MoB 06/19/2018 .875 10,000,000.00 10,000,000.00 99.045000 9,904,500.00 -95,500.00
FHLB 5YrNc6MoB 06/20/2018 .900 5,000,000.00 4,998,000.00 99.362000 4,968,100.00 -29,900.00
FHLB 5YrNc3MoB 06/20/2018 1.000 13,000,000.00 13,000,000.00 99.167000 12,891,710.00 -108,290.00
FHLB 5YrNc3MoB 06/20/2018 1.250 10,000,000.00 10,000,000.00 98.923000 9,892,300.00 -107,700.00
FHLB 3.5YrNc1MoB 12/19/2016 .750 5,000,000.00 5,000,000.00 99.853000 4,992,650.00 -7,350.00
FHLB 3.5YrNc1MoB 12/19/2016 .750 10,000,000.00 10,000,000.00 99.853000 9,985,300.00 -14,700.00
FHLB 5YrNc3MoB 06/27/2018 1.250 5,000,000.00 5,000,000.00 99.907000 4,995,350.00 -4,650.00
FHLB 5YrNc3MoB 06/27/2018 1.250 5,000,000.00 5,000,000.00 99.907000 4,995,350.00 -4,650.00
FHLB 5YrNc3MoB 06/27/2018 1.250 5,000,000.00 5,000,000.00 99.907000 4,995,350.00 -4,650.00
FHLB 1Yr 08/12/2014 .170 15,000,000.00 14,998,892.55 100.007000 15,001,050.00 2,157.45
FHLB 1Yr 08/20/2014 .170 10,000,000.00 10,000,000.00 100.013000 10,001,300.00 1,300.00
FHLB 1.5Yr 09/22/2014 .220 15,000,000.00 15,005,250.00 100.032000 15,004,800.00 -450.00
FHLB 1Yr 09/03/2014 .125 15,000,000.00 14,990,640.00 100.008000 15,001,200.00 10,560.00
FHLB 1Yr 11/18/2014 .125 25,000,000.00 24,988,764.33 100.011000 25,002,750.00 13,985.67
FHLB 1Yr 02/20/2015 .250 25,000,000.00 25,018,500.00 100.069000 25,017,250.00 -1,250.00
FHLB 1.25Yr 02/18/2015 .210 25,000,000.00 25,000,000.00 100.036000 25,009,000.00 9,000.00
FHLB 1.25Yr 02/18/2015 .210 25,000,000.00 24,998,500.00 100.036000 25,009,000.00 10,500.00
FHLB 1YrNc6MoB 01/21/2015 .240 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00
FHLB 1Yr 01/06/2015 .190 25,000,000.00 25,000,000.00 100.035000 25,008,750.00 8,750.00
FHLB 1YrNc6MoE 02/26/2015 .210 25,000,000.00 25,000,000.00 100.010000 25,002,500.00 2,500.00
FHLB 3YrNc6MoB 03/24/2017 .900 5,000,000.00 5,000,000.00 100.162000 5,008,100.00 8,100.00
FHLB 3.5YrNc6MoE 09/26/2017 1.050 5,000,000.00 5,000,000.00 100.040000 5,002,000.00 2,000.00
FHLB 3.25YrNc3MoB 06/27/2017 1.050 10,000,000.00 9,997,500.00 100.080000 10,008,000.00 10,500.00
FHLB 3.25YrNc6MoB 06/26/2017 1.000 10,000,000.00 10,000,000.00 100.163000 10,016,300.00 16,300.00
FHLB 5YrNc3MoB 03/27/2019 1.000 10,000,000.00 10,000,000.00 100.038000 10,003,800.00 3,800.00
FHLB 5YrNc3MoB 03/27/2019 1.500 5,000,000.00 5,000,000.00 99.903000 4,995,150.00 -4,850.00
FHLB 5YrNc3MoB 04/15/2019 1.500 10,000,000.00 10,000,000.00 99.692000 9,969,200.00 -30,800.00
FHLB 5YrNc3MoB 04/16/2019 1.500 10,000,000.00 10,000,000.00 100.039000 10,003,900.00 3,900.00
FHLB 5YrNc3MoB 04/17/2019 1.750 10,000,000.00 10,000,000.00 99.592000 9,959,200.00 -40,800.00
FHLB 5YrNc3MoB 04/17/2019 1.750 10,000,000.00 10,000,000.00 99.592000 9,959,200.00 -40,800.00
FHLB 5YrNc3MoB 04/23/2019 1.800 10,000,000.00 10,000,000.00 99.917000 9,991,700.00 -8,300.00
FHLB 1YrNc6MoE 04/24/2015 .200 25,000,000.00 25,000,000.00 99.985000 24,996,250.00 -3,750.00
FHLB 5YrNc3MoB 04/17/2019 1.750 8,435,000.00 8,435,000.00 99.592000 8,400,585.20 -34,414.80
FHLB 5YrNc3MoB 04/17/2019 1.750 5,000,000.00 5,000,000.00 99.592000 4,979,600.00 -20,400.00
FHLB 6Mo 10/21/2014 .080 10,000,000.00 9,999,430.00 99.996000 9,999,600.00 170.00
FHLB 5YrNc3MoB 04/15/2019 1.500 3,000,000.00 3,000,000.00 99.692000 2,990,760.00 -9,240.00
FHLB 5YrNc6MoB 05/13/2019 1.700 10,000,000.00 10,000,000.00 99.862000 9,986,200.00 -13,800.00
FHLB 9Mo 01/22/2015 .090 25,000,000.00 24,995,784.75 99.982000 24,995,500.00 -284.75
FHLB 5YrNc3MoB 04/29/2019 1.500 3,000,000.00 3,000,000.00 100.097000 3,002,910.00 2,910.00
FHLB 5YrNc3MoB 05/06/2019 1.650 10,000,000.00 10,000,000.00 99.527000 9,952,700.00 -47,300.00
FHLB 5YrNc3MoB 04/23/2019 1.800 4,250,000.00 4,250,000.00 99.917000 4,246,472.50 -3,527.50
FHLB 5YrNc3MoB 05/21/2019 1.750 6,650,000.00 6,650,000.00 99.998000 6,649,867.00 -133.00
FHLB 5YrNc3MoB 05/28/2019 1.750 10,000,000.00 10,000,000.00 100.059000 10,005,900.00 5,900.00
FHLB 5YrNc3MoB 05/21/2019 1.750 5,000,000.00 5,000,000.00 99.963000 4,998,150.00 -1,850.00
3135G0PQ0 1.141 3.258 3.326
FHLB DISC NOTES
3135G0KM4 .119 .907 .907
3135G0WJ8 1.396 3.804 3.893
.726 2.849 2.900
313385J98 .080 .279 .279
313385K62 .075 .293 .293
313385J98 .075 .279 .279
313385J98 .075 .279 .279
313385K88 .075 .298 .299
313385L53 .075 .312 .312
313385L53 .075 .312 .312
.078 .317 .318313385L79
.075 .312 .312
313385M45 .075 .331 .332
313385L53
313385N36 .078 .350 .351
313385N36 .077 .350 .351
313385N51 .078 .356 .356
313385P26 .078 .369 .370
313385P42 .076 .375 .375
313385P91 .075 .388 .389
313385P91 .078 .388 .389
.076 .328 .328
313372KE3 .163 .594 .600
FHLB BONDS
313378AC5 .500 .891 .893
313378U58 .700 .840 .844
313380UF2 .625 3.235 3.282
313381H24 .307 .543 .548
313381YP4 .293 .637 .644
313381VK8 .636 2.060 2.082
313381XU4 .650 3.581 3.627
313382PH0 .800 3.749 3.822
313382PP2 .850 3.745 3.822
313382LE1 .625 2.258 2.285
313382SL8 .550 2.297 2.321
313380S57 .700 2.255 2.285
313382Y31 .750 3.825 3.893
3133833M1 .750 3.831 3.899
3133833J8 .750 3.836 3.904
3133834M0 .750 3.848 3.915
3133836N6 .800 3.879 3.953
3133836N6 .800 3.879 3.953
313383CP4 .875 3.892 3.973
313383CP4 .875 3.892 3.973
313383CP4 .875 3.892 3.973
313383CP4 .875 3.892 3.973
313383EM9 .908 3.892 3.975
313383EN7 1.000 3.884 3.975
313383EP2 1.250 3.862 3.975
313383G62 .750 2.442 2.474
313383G62 .750 2.442 2.474
313383KJ9 1.250 3.882 3.995
313383KJ9 1.250 3.882 3.995
313383KJ9 1.250 3.882 3.995
313383UE9 .177 .118 .118
313383W64 .170 .140 .140
313382LT8 .188 .230 .230
313383XP1 .187 .178 .178
3130A0C81 .170 .386 .386
313381YP4 .189 .638 .644
3130A0FX3 .210 .632 .638
3130A0FX3 .215 .632 .638
3130A0JD3 .240 .557 .562
3130A0JV3 .190 .516 .521
3130A0UA6 .210 .654 .660
3130A15J3 .900 2.688 2.734
3130A1AQ1 1.050 3.168 3.244
3130A17J1 1.058 2.937 2.995
3130A1C89 1.000 2.937 2.992
3130A1B98 1.000 4.625 4.742
3130A16Q6 1.500 4.543 4.742
3130A1EQ7 1.500 4.593 4.795
3130A1EW4 1.500 4.596 4.797
3130A1G44 1.750 4.567 4.800
3130A1G44 1.750 4.567 4.800
3130A1HP6 1.800 4.577 4.816
3130A1HR2 .200 .815 .816
3130A1G44 1.750 4.567 4.800
3130A1G44 1.750 4.567 4.800
3130A1M96 .091 .309 .310
3130A1EQ7 1.500 4.593 4.795
3130A1QH4 1.700 4.645 4.871
3130A1PW2 .113 .563 .564
3130A1LA4 1.500 4.632 4.833
3130A1Q50 1.650 4.632 4.852
3130A1HP6 1.800 4.577 4.816
3130A1TJ7 1.750 4.660 4.893
3130A1VH8 1.750 4.679 4.912
3130A1T32 1.750 4.660 4.893
RIVERISIDE COUNTY TREASURER-TAX COLLECTOR 952
Description
Maturity
Date Coupon
Par
Value
Book
Value
Market
Price
Market
Value
Unrealized
Gain/Loss
Month End Portfolio Holdings
Yield To
Maturity
Modified
Duration
Years To
MaturityCUSIP
FHLB 5YrNc3MoB 05/21/2019 1.750 9,500,000.00 9,500,000.00 99.998000 9,499,810.00 -190.00
FHLB 5YrNc3MoB 05/22/2019 1.800 10,000,000.00 10,000,000.00 100.048000 10,004,800.00 4,800.00
FHLB 3.5YrNc6MoB 11/28/2017 1.250 6,550,000.00 6,550,000.00 99.739000 6,532,904.50 -17,095.50
FHLB 5YrNc3MoB 05/06/2019 1.650 10,000,000.00 10,000,000.00 99.891000 9,989,100.00 -10,900.00
FHLB 3.75Yr 03/09/2018 1.375 7,000,000.00 7,011,690.00 100.321000 7,022,470.00 10,780.00
FHLB 3YrNc3MoB 05/22/2017 1.100 10,000,000.00 10,000,000.00 100.130000 10,013,000.00 13,000.00
FHLB 5YrNc3MoB 05/28/2019 1.650 10,000,000.00 10,000,000.00 99.196000 9,919,600.00 -80,400.00
FHLB 5YrNc3MoB 06/12/2019 1.000 10,000,000.00 10,000,000.00 99.956000 9,995,600.00 -4,400.00
FHLB 5YrNc3MoB 05/28/2019 1.650 2,200,000.00 2,200,000.00 99.196000 2,182,312.00 -17,688.00
FHLB 5YrNc3MoB 06/11/2019 1.600 15,000,000.00 15,000,000.00 99.667000 14,950,050.00 -49,950.00
FHLB 5YrNc3MoB 06/18/2019 1.500 10,000,000.00 10,000,000.00 99.545000 9,954,500.00 -45,500.00
FHLB 5YrNc3MoB 06/17/2019 1.550 20,000,000.00 20,000,000.00 99.703000 19,940,600.00 -59,400.00
FHLB 5YrNc3MoB 06/18/2019 1.500 15,000,000.00 15,000,000.00 99.545000 14,931,750.00 -68,250.00
FHLB 5YrNc3MoB 06/26/2019 1.500 8,000,000.00 8,000,000.00 100.054000 8,004,320.00 4,320.00
FHLB 5YrNc3MoB 06/26/2019 1.500 15,000,000.00 15,000,000.00 100.089000 15,013,350.00 13,350.00
FHLB 5YrNc3MoB 06/26/2019 1.625 6,000,000.00 6,000,000.00 100.035000 6,002,100.00 2,100.00
FHLB 5YrNc3MoB 06/26/2019 1.625 5,000,000.00 5,000,000.00 100.035000 5,001,750.00 1,750.00
FHLB 5YrNc3MoB 06/26/2019 1.170 10,000,000.00 10,000,000.00 100.222000 10,022,200.00 22,200.00
FHLB 1YrNc9MoB 07/17/2015 .200 25,000,000.00 25,000,000.00 99.961000 24,990,250.00 -9,750.00
.834 903,970,714.00 903,952,715.63 99.841793 902,540,571.84 -1,412,143.79
FFCB 5Yr 04/20/2016 .223 10,000,000.00 9,995,000.00 100.154000 10,015,400.00 20,400.00
FFCB 3Yr 03/16/2015 .520 5,000,000.00 4,988,430.00 100.242000 5,012,100.00 23,670.00
FFCB 3Yr 05/01/2015 .500 5,000,000.00 4,997,000.00 100.251000 5,012,550.00 15,550.00
FFCB 2.5Yr 07/24/2015 .194 15,000,000.00 14,996,061.75 100.085000 15,012,750.00 16,688.25
FFCB 2Yr 01/07/2015 .250 10,000,000.00 9,988,850.00 100.035000 10,003,500.00 14,650.00
FFCB 2Yr 01/07/2015 .250 15,000,000.00 14,991,750.00 100.035000 15,005,250.00 13,500.00
FFCB 3YrNc1YrC 04/11/2016 .430 5,000,000.00 4,994,250.00 99.896000 4,994,800.00 550.00
FFCB 1.25 Yr 08/08/2014 .170 10,000,000.00 10,000,000.00 100.009000 10,000,900.00 900.00
FFCB 1.25Yr 08/08/2014 .170 15,000,000.00 14,995,907.55 100.009000 15,001,350.00 5,442.45
FFCB 1Yr 08/25/2014 .180 25,000,000.00 25,000,000.00 100.016000 25,004,000.00 4,000.00
FFCB 2Yr 09/11/2014 .250 3,800,000.00 3,803,114.97 100.030000 3,801,140.00 -1,974.97
FFCB 1.25Yr 02/13/2015 .190 25,000,000.00 24,995,300.00 100.036000 25,009,000.00 13,700.00
FFCB 1.25Yr 02/13/2015 .190 25,000,000.00 24,996,000.00 100.036000 25,009,000.00 13,000.00
FFCB 1.75Yr 08/25/2015 .280 15,000,000.00 15,000,000.00 100.063000 15,009,450.00 9,450.00
FFCB 1.25Yr 02/13/2015 .190 25,000,000.00 24,996,075.00 100.036000 25,009,000.00 12,925.00
FFCB 3YrNC1YrA 12/09/2016 .680 5,000,000.00 4,992,500.00 99.776000 4,988,800.00 -3,700.00
FFCB 1Yr 01/16/2015 .160 25,000,000.00 25,000,000.00 100.016000 25,004,000.00 4,000.00
FFCB 1Yr 01/16/2015 .160 15,000,000.00 15,000,000.00 100.016000 15,002,400.00 2,400.00
FFCB 1Yr 09/10/2015 .250 10,000,000.00 9,996,800.00 99.978000 9,997,800.00 1,000.00
FFCB 2Yr 03/03/2016 .375 10,000,000.00 10,001,000.00 99.899000 9,989,900.00 -11,100.00
FFCB 1.25Yr 06/04/2015 .190 15,000,000.00 14,999,475.00 99.950000 14,992,500.00 -6,975.00
FFCB 1.25Yr 05/01/2015 .500 15,000,000.00 15,055,545.00 100.251000 15,037,650.00 -17,895.00
FFCB 1.25Yr 06/04/2015 .190 20,000,000.00 20,000,600.00 99.950000 19,990,000.00 -10,600.00
FFCB 1.25Yr 06/04/2015 .190 15,000,000.00 15,000,000.00 99.950000 14,992,500.00 -7,500.00
FFCB 1Yr 06/10/2015 .230 15,000,000.00 15,000,900.00 100.088000 15,013,200.00 12,300.00
FFCB 1.25Yr 06/04/2015 .190 15,000,000.00 15,004,770.00 99.950000 14,992,500.00 -12,270.00
FFCB 1Yr 05/01/2015 .130 15,000,000.00 14,999,367.90 99.947000 14,992,050.00 -7,317.90
FFCB 1.25Yr 05/14/2015 .190 33,150,000.00 33,150,000.00 99.978000 33,142,707.00 -7,293.00
.226 416,950,000.00 416,938,697.17 100.020673 417,036,197.00 97,499.83
FAMCA DISC NOTE 12/03/2014 .080 10,000,000.00 9,995,978.00 99.970000 9,997,000.00 1,022.00
.080 10,000,000.00 9,995,978.00 99.970000 9,997,000.00 1,022.00
FAMCA 3Yr 07/02/2015 .550 10,000,000.00 9,989,000.00 100.303000 10,030,300.00 41,300.00
FAMCA 2Yr 01/23/2015 .320 5,000,000.00 5,000,000.00 100.105000 5,005,250.00 5,250.00
FAMCA 3Yr 01/28/2016 .425 5,000,000.00 5,000,000.00 100.136000 5,006,800.00 6,800.00
FAMCA 5YrNc6MoB 04/03/2018 .875 10,000,000.00 10,000,000.00 100.109000 10,010,900.00 10,900.00
FAMCA 15Mo 08/11/2014 .200 25,000,000.00 24,995,975.00 100.005000 25,001,250.00 5,275.00
FAMCA 1Yr 11/03/2014 .230 30,000,000.00 30,000,000.00 100.040000 30,012,000.00 12,000.00
FAMCA 1Yr 10/10/2014 .200 25,000,000.00 25,000,000.00 100.025000 25,006,250.00 6,250.00
FAMCA 2Yr 01/06/2015 .185 50,000,000.00 49,997,294.50 100.029000 50,014,500.00 17,205.50
FAMCA 1Yr 01/15/2015 .190 25,000,000.00 24,998,750.00 100.032000 25,008,000.00 9,250.00
FAMCA 1Yr 02/03/2015 .185 25,000,000.00 24,998,750.00 100.031000 25,007,750.00 9,000.00
FAMCA 1.25Yr 06/29/2015 .170 25,000,000.00 25,000,000.00 100.003000 25,000,750.00 750.00
FAMCA 1Yr 06/30/2015 .178 25,000,000.00 25,000,000.00 100.013000 25,003,250.00 3,250.00
FAMCA 5YrNc6MoB 06/06/2019 1.650 10,000,000.00 10,000,000.00 100.191000 10,019,100.00 19,100.00
FAMCA 5YrNc6MoB 06/06/2019 1.600 10,000,000.00 10,000,000.00 100.220000 10,022,000.00 22,000.00
.338 280,000,000.00 279,979,769.50 100.052893 280,148,100.00 168,330.50
LOUISIANA STATE 05/15/2016 .540 12,070,000.00 12,070,000.00 100.000000 12,070,000.00 0.00
OHIO STATE 11/01/2014 .280 9,355,000.00 9,355,000.00 100.000000 9,355,000.00 0.00
COUNTY OF RIVERSIDE
TEETER
10/15/2014 .370 1,635,000.00 1,635,000.00 100.000000 1,635,000.00 0.00
WASHINGTON STATE 02/01/2015 .200 11,590,000.00 11,590,000.00 100.000000 11,590,000.00 0.00
LOUISIANA STATE 02/01/2015 .220 24,755,000.00 24,747,821.05 99.971000 24,747,821.05 0.00
MAINE STATE 06/01/2015 .200 11,295,000.00 11,292,853.95 99.981000 11,292,853.95 0.00
.280 70,700,000.00 70,690,675.00 99.986810 70,690,675.00 0.00
GE CAPITAL CORP 07/03/2014 .140 10,000,000.00 9,995,333.30 99.999278 9,999,927.78 4,594.48
NESTLE 07/07/2014 .100 35,000,000.00 34,988,138.89 99.997833 34,999,241.67 11,102.78
TOYOTA MOTOR CORP 07/09/2014 .150 10,000,000.00 9,995,000.00 99.997111 9,999,711.11 4,711.11
COCA-COLA CO 07/21/2014 .130 30,000,000.00 29,987,216.67 99.992778 29,997,833.33 10,616.66
TOYOTA MOTOR CORP 07/30/2014 .150 15,000,000.00 14,992,500.00 99.989528 14,998,429.17 5,929.17
GE CAPITAL CORP 07/30/2014 .120 20,000,000.00 19,992,000.00 99.989528 19,997,905.56 5,905.56
COCA-COLA CO 07/31/2014 .130 25,000,000.00 24,989,166.67 99.989167 24,997,291.67 8,125.00
NESTLE 08/04/2014 .120 10,000,000.00 9,995,933.33 99.987722 9,998,772.22 2,838.89
TOYOTA MOTOR CORP 08/05/2014 .150 10,000,000.00 9,995,041.67 99.987361 9,998,736.11 3,694.44
COCA-COLA CO 07/10/2014 .090 15,000,000.00 14,996,512.50 99.996750 14,999,512.50 3,000.00
GE CAPITAL CORP 08/07/2014 .120 25,000,000.00 24,990,000.00 99.986639 24,996,659.72 6,659.72
UC REGENTS 08/07/2014 .150 25,000,000.00 24,987,500.00 99.986639 24,996,659.72 9,159.72
3130A1TJ7 1.750 4.660 4.893
3130A1UM8 1.800 4.657 4.896
3130A1VN5 1.250 3.326 3.416
3130A1PZ5 1.650 4.632 4.852
313378A43 1.330 3.574 3.693
3130A1WH7 1.100 2.838 2.896
3130A1YW2 1.650 4.692 4.912
3130A1ZE1 1.000 4.815 4.953
3130A1YW2 1.650 4.692 4.912
3130A22D7 1.600 4.735 4.951
3130A23Z7 1.500 4.767 4.970
3130A23Y0 1.550 4.757 4.967
3130A23Z7 1.500 4.767 4.970
3130A2AH9 1.500 4.789 4.992
1.500 4.789 4.9923130A2B62
1.625 4.773 4.992
3130A2BX3 1.625 4.773 4.992
3130A2BX3
FFCB BONDS
3130A2E77 1.170 4.832 4.992
3130A2G75 .200 1.045 1.047
.836 2.674 2.761
31331KHV5 .250 1.800 1.808
3133EAHP6 .598 .708 .710
3133EANJ3 .520 .833 .836
3133ECBA1 .218 1.065 1.066
3133ECCE2 .306 .518 .523
3133ECCE2 .281 .518 .523
3133ECKZ6 .469 1.770 1.784
3133ECNW0 .170 .107 .107
3133ECNW0 .193 .107 .107
3133ECVH4 .180 .153 .153
3133EAT81 .162 .200 .200
3133ED7H9 .205 .618 .625
3133ED7H9 .203 .618 .625
3133EDAL6 .280 1.150 1.153
3133ED7H9 .203 .618 .625
3133EDBK7 .731 2.416 2.447
3133EDDR0 .160 .544 .548
3133EDDR0 .160 .544 .548
3133EDEK4 .270 1.192 1.197
3133EDG63 .370 1.666 1.677
3133EDGB2 .193 .926 .929
3133EANJ3 .178 .834 .836
3133EDES7
3133EDGB2
3133EDGB2 .188 .926 .929
3133EDGB2 .190 .926 .929
.225 .943 .945
.162 .927 .929
3133EDKV3 .134 .835 .836
3133EDFD9 .190 .871 .871
.223 .779 .783
FMAC DISC NOTES
31315LR75 .080 .427 .427
.080 .427 .427
31315PQK8 .587 .999 1.005
FARMER MAC
31315PWS4 .320 .562 .567
31315PYY9 .425 1.568 1.581
31315PRT8 .875 3.690 3.762
31315PA74 .213 .115 .115
31315PX20 .230 .345 .345
31315P6N4 .200 .279 .279
31315PJ59 .190 .516 .521
31315PW54 .195 .541 .545
31315P3J6
31315P4J5
31315P2B4 .190 .591 .597
31315PU49 .170 .996 .997
.178 .999 1.000
1.650 4.714 4.937
31315P4C0 1.600 4.721 4.937
.343 .987 1.007
546415L73 .540 1.862 1.877
MUNI BONDS
6775212D7 .280 .339 .340
.370 .292 .29376914AAE2
.200 .585 .592
546415S27 .251 .585 .592
93974DDY1
56052AXR2 .220 .918 .921
.294 .817 .824
36959JG31 .140 .008 .008
COMM PAPER
64105HG71 .100 .019 .019
89233HG99 .150 .025 .025
19121BGM5 .130 .057 .058
89233HGW8 .150 .082 .082
36959JGW7 .120 .082 .082
19121BGX1 .130 .085 .085
64105HH47 .120 .096 .096
89233HH56 .150 .098 .099
19121BGA1 .090 .027 .027
36959JH71 .120 .104 .104
91411UH73 .150 .104 .104
RIVERISIDE COUNTY TREASURER-TAX COLLECTOR 1053
Description
Maturity
Date Coupon
Par
Value
Book
Value
Market
Price
Market
Value
Unrealized
Gain/Loss
Month End Portfolio Holdings
Yield To
Maturity
Modified
Duration
Years To
MaturityCUSIP
GE CAPITAL CORP 08/11/2014 .120 10,000,000.00 9,995,933.33 99.985194 9,998,519.44 2,586.11
PROCTER & GAMBLE 07/09/2014 .080 5,000,000.00 4,999,011.11 99.997111 4,999,855.56 844.45
NESTLE 08/11/2014 .110 15,000,000.00 14,994,408.33 99.985194 14,997,779.17 3,370.84
TOYOTA MOTOR CORP 08/13/2014 .140 35,000,000.00 34,983,666.67 99.984472 34,994,565.28 10,898.61
PROCTER & GAMBLE 07/17/2014 .090 25,000,000.00 24,994,187.50 99.994222 24,998,555.56 4,368.06
NESTLE 08/14/2014 .100 9,000,000.00 8,997,000.00 99.984111 8,998,570.00 1,570.00
UC REGENTS 08/07/2014 .150 7,700,000.00 7,696,567.08 99.986639 7,698,971.19 2,404.11
COCA-COLA CO 08/05/2014 .110 8,000,000.00 7,997,628.89 99.987361 7,998,988.89 1,360.00
WAL-MART 07/28/2014 .090 25,000,000.00 24,994,500.00 99.990250 24,997,562.50 3,062.50
WAL-MART 07/28/2014 .090 25,000,000.00 24,994,500.00 99.990250 24,997,562.50 3,062.50
PROCTER & GAMBLE 08/08/2014 .080 40,000,000.00 39,991,644.44 99.986278 39,994,511.11 2,866.67
PROCTER & GAMBLE 08/07/2014 .080 25,000,000.00 24,994,944.44 99.986639 24,996,659.72 1,715.28
TOYOTA MOTOR CORP 09/08/2014 .130 30,000,000.00 29,987,108.33 99.967417 29,990,225.00 3,116.67
GE CAPITAL CORP 09/11/2014 .140 40,000,000.00 39,981,333.33 99.966000 39,986,400.00 5,066.67
CHEVRON 07/15/2014 .070 75,000,000.00 74,991,104.17 99.994944 74,996,208.33 5,104.16
TOYOTA MOTOR CORP 08/12/2014 .130 15,000,000.00 14,995,179.17 99.984833 14,997,725.00 2,545.83
TOYOTA MOTOR CORP 09/12/2014 .150 15,000,000.00 14,992,500.00 99.965528 14,994,829.17 2,329.17
COCA-COLA CO 09/16/2014 .110 8,164,000.00 8,161,405.66 99.963639 8,161,031.48 -374.18
COCA-COLA CO 09/10/2014 .100 9,350,000.00 9,347,454.72 99.966472 9,346,865.15 -589.57
GE CAPITAL CORP 10/06/2014 .140 10,000,000.00 9,995,255.56 99.948806 9,994,880.56 -375.00
COCA-COLA CO 10/06/2014 .120 5,279,000.00 5,276,923.59 99.948806 5,276,297.45 -626.14
CHEVRON 08/06/2014 .080 15,000,000.00 14,998,100.00 99.987000 14,998,050.00 -50.00
CHEVRON 09/08/2014 .090 25,000,000.00 24,994,437.50 99.967417 24,991,854.17 -2,583.33
COCA-COLA CO 10/06/2014 .120 30,000,000.00 29,988,400.00 99.948806 29,984,641.67 -3,758.33
CHEVRON 09/10/2014 .090 25,000,000.00 24,994,375.00 99.966472 24,991,618.06 -2,756.94
CHEVRON 09/09/2014 .100 25,000,000.00 24,994,166.67 99.966944 24,991,736.11 -2,430.56
TOYOTA MOTOR CORP 10/17/2014 .140 10,000,000.00 9,995,333.33 99.943000 9,994,300.00 -1,033.33
.110 797,493,000.00 797,231,411.85 99.981999 797,349,443.63 118,031.78
TORONTO DOMINION 07/14/2014 .150 20,000,000.00 20,000,000.00 100.000000 20,000,000.00 0.00
TORONTO DOMINION 08/29/2014 .130 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00
TORONTO DOMINION 09/17/2014 .140 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00
.139 80,000,000.00 80,000,000.00 100.000000 80,000,000.00 0.00
.428 4,840,342,714.00 4,839,735,132.12 99.934456 4,837,170,144.50 -2,564,987.62
.428 4,840,342,714.00 4,839,735,132.12 99.934456 4,837,170,144.50 -2,564,987.62
36959JHB2 .120 .115 .115
74271UG95 .080 .025 .025
64105HHB1 .110 .115 .115
89233HHD9 .140 .120 .121
74271UGH7 .090 .047 .047
64105HHE5 .100 .123 .123
91411UH73 .150 .104 .104
19121BH51 .110 .098 .099
93114FGU2 .090 .077 .077
93114FGU2 .090 .077 .077
74271UH86 .080 .107 .107
74271UH78 .080 .104 .104
89233HJ88 .130 .191 .192
36959JJB0 .140 .200 .200
16677KGF4 .070 .041 .041
89233HHC1 .130 .118 .118
89233HJC9 .150 .202 .203
19121BJG5 .110 .213 .214
19121BJA8 .100 .197 .197
36959JK69 .140 .268 .268
19121BK65 .120 .268 .268
16677KH63 .080 .101 .101
16677KJ87 .090 .191 .192
19121BK65 .120 .268 .268
16677KJA2 .090 .197 .197
16677KJ95 .100 .194 .195
.140 .298 .29989233HKH6
.110 .117 .117
NCDS
89112T3E2 .150 .038 .038
89112UBB6 .130 .164 .164
89112UED9 .140 .216 .216
.139 .152 .152
.422 1.335 1.367Grand Total
Total Fund .422 1.335 1.367
RIVERISIDE COUNTY TREASURER-TAX COLLECTOR 1154
55
1 Mutual Funds maturity may be interpreted as weighted average maturity not exceeding 60 days.
2 Or must have an investment advisor with not less than 5 years experience and with assets under management of $500,000,000.
THIS COMPLETES THE REPORT REQUIREMENTS OF CALIFORNIA GOVERNMENT C0DE 53646
Investment Category
Maximum
Maturity
Authorized
% Limit
S&P/
Moody's
Maximum
Maturity Authorized % Limit S&P/ Moody's Actual %
MUNICIPAL BONDS
(MUNI)
5 YEARS NO LIMIT NA 3 YEARS 15%AA-/Aa3/AA-1.46%
U.S. TREASURIES 5 YEARS NO LIMIT NA 5 YEARS 100%NA 5.89%
LOCAL AGENCY
OBLIGATIONS (LAO)
5 YEARS NO LIMIT NA 3 YEARS 2.5%INVESTMENT
GRADE
0.01%
FEDERAL AGENCIES 5 YEARS NO LIMIT AAA 5 YEARS 100%NA 59.24%
COMMERCIAL PAPER (CP)270 DAYS 40%A1/P1 270 DAYS 40%A1/P1/F1 16.47%
CERTIFICATE & TIME
DEPOSITS (NCD & TCD)
5 YEARS 30%NA 1 YEAR 25% Combined A1/P1/F1 1.65%
REPURCHASE
AGREEMENTS (REPO)
1 YEARS NO LIMIT NA 45 DAYS 40% max, 25% in term
repo over 7 days
A1/P1/F1 3.10%
REVERSE REPOS 92 DAYS 20%NA 60 DAYS 10%NA 0.00%
MEDIUM TERM NOTES
(MTNO)
5 YEARS 30%A 3 YEARS 20%AA/Aa2/AA 0.00%
CALTRUST SHORT TERM
FUND
NA NA NA DAILY
LIQUIDITY
1.0%NA 1.12%
MONEY MARKET MUTUAL
FUNDS (MMF)
60 DAYS (1)20%AAA/Aaa
(2)
DAILY
LIQUIDITY
20%AAA by 2 Of 3
RATINGS AGC.
7.96%
LOCAL AGENCY
INVESTMENT FUND (LAIF)
NA NA NA DAILY
LIQUIDITY
Max $50 million NA 0.00%
CASH/DEPOSIT ACCOUNT NA NA NA NA NA NA 3.10%
GOVERNMENT CODE COUNTY INVESTMENT POLICY
The Treasurer’s Pooled Investment Fund was in FULL
COMPLIANCE with the Treasurer’s Statement of Investment Policy.
The County’s Investment Policy is more restrictive than the Califor-
nia Government Code. This policy is reviewed annually by the
County’s Investment Oversight Committee and approved by the
County Board of Supervisors.
Full Compliance
RIVERSIDE COUNTY TREASURER-TAX COLLECTOR 13 56
57
County of Riverside
Treasurer-Tax Collector
Capital Markets
4080 Lemon Street, 4th Floor
Riverside, CA 92502-2205
www.treasurer-tax.co.riverside.ca.us
(951) 955-3979
58
AGENDA ITEM 7E
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Theresia Trevino, Chief Financial Officer
THROUGH: John Standiford, Deputy Executive Director
SUBJECT: Annual Investment Policy Review
STAFF RECOMMENDATION:
This item is for the Committee to:
1) Adopt Resolution No. 14-015, “Resolution of the Riverside County Transportation
Commission Regarding the Revised Investment Policy”;
2) Adopt the Annual Investment Policy; and
3) Forward to the Commission for final action.
BACKGROUND INFORMATION:
Section XIV of the Investment Policy requires an annual investment policy review and
specifically states that the “Chief Financial Officer shall annually render to the Board a
statement of investment policy, which the Board must consider at a public meeting. Any
changes to the policy shall also be considered by the Board at a public meeting.”
Based on a review of the Investment Policy approved by the Commission on June 7, 2012, and
consideration of changes to the California Government Code as of January 1, 2014, staff in
consultation with Payden & Rygel Investment Management, one of the Commission’s
investment management firms, has determined that changes should be made to:
1) Distinguish scope of investment policy pertaining to operating and bond/debt portfolios;
2) Revise basis of percentage limitations applicable to municipal bonds, U.S. corporate
debt, commercial paper, and certificates of deposit;
3) Revise minimum number of ratings required from a Nationally Recognized Statistical
Rating Organization (NRSRO) for municipal bonds, U.S. corporate debt, commercial
paper, and certificates of deposit from two NRSROs to one NRSRO while maintaining AA
category ratings for long-term securities and P-1/A-1/or F-1 category ratings for short-
term securities;
4) Revise maximum maturity from three to five years for municipal bonds;
5) Permit investments in high quality mortgage and asset-backed securities for a maximum
maturity of five (5) years and not to exceed 10 percent of the Commission’s operating
investment portfolio;
Agenda Item 7E
59
6) Delete provision to exceed maximum maturity permitted if the Commission grants
express authority to make an investment specifically or as part of an investment
program, as this provision has not and is not expected to be used for the Commission’s
operating portfolio.
Staff consulted with the County Treasurer’s Office as well as the Commission’s financial
advisors, Fieldman, Rolapp & Associates, in order to determine an appropriate level of changes
primarily affecting the Commission’s operating portfolio while adhering to the investment
objectives, in priority order, of safety, liquidity, and return on investment.
Attachments:
1) Resolution No. 14-015
2) Investment Policy (draft)
Agenda Item 7E
60
ATTACHMENT 1
RESOLUTION NO. 14-015
RESOLUTION OF THE
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
REGARDING THE
REVISED INVESTMENT POLICY
WHEREAS, the Riverside County Transportation Commission (the “Commission”)
currently retains the authority to add, delete or otherwise modify the Commission’s
policies and procedures.
NOW, THEREFORE, the Riverside County Transportation Commission does
hereby resolve as follows:
Section 1. The Riverside County Transportation Commission hereby adopts the
Investment Policy, as revised on September 10, 2014, and attached as
Exhibit A.
APPROVED AND ADOPTED this 10th day of September, 2014.
_____________________________________
Marion Ashley, Chair
Riverside County Transportation Commission
ATTEST:
_________________________________
Jennifer Harmon
Clerk of the Board
61
BLANK
ATTACHMENT 2
INVESTMENT POLICY
I. Introduction
The purpose of this document is to identify policies and procedures that enhance
opportunities for a prudent investment program and to organize and formalize
investment-related activities.
II. Scope
It is intended that this Policy cover all funds (except retirement funds) and
investment activities under the direction of the Commission. Investment activities
may be classified between operating and bond/debt portfolios.
III. Delegation of Authority
Pursuant to the Commission’s Administrative Code, the Board’s management
responsibility for the investment program is hereby delegated for a one-year
period to the Executive Director who shall monitor and review all investments for
consistency with this investment policy. Subject to review, the Board may renew
the delegation of authority pursuant to this section each year. The Executive
Director may delegate these duties to his designee (“Chief Financial Officer”).
The Commission may delegate its investment decision making and execution
authority to an investment advisor. The advisor shall follow this Policy and such
other written instructions as are provided.
IV. Prudence
All persons authorized to make investment decisions on behalf of the
Commission are subject to the prudent investor standard. Investments shall be
made with care, skill, prudence and diligence under circumstances then
prevailing, including, but not limited to, the general economic conditions and the
anticipated needs of the Commission that a prudent person acting in a like
capacity and familiarity with those matters would use in the conduct of funds of a
like character and with like aims, to safeguard the principal and maintain the
liquidity needs of the Commission.
Authorized individuals acting in accordance with this Policy and written
procedures and exercising due diligence shall be relieved of personal
responsibility for an individual security’s credit risk or market price changes,
provided deviations from expectations are reported in a timely fashion.
62
V. Objective
The Commission’s primary investment objectives, in priority order, shall be:
1. Safety. Safety of principal is the foremost objective of the investment
program. Investments of the Commission shall be undertaken in a
manner that seeks to ensure preservation of capital in the portfolio.
2. Liquidity. The investment portfolio of the Commission will remain
sufficiently liquid to enable the Commission to meet its cash flow
requirements.
3. Return on Investment. The investment portfolio of the Commission
shall be designed with the objective of maximizing return on its
investments, but only after ensuring safety and liquidity.
The Commission may from time to time sell securities that it owns in order to
better reposition its portfolio assets in accordance with updated cash flow
schedules, yield opportunities existing between market sectors, or simply market
timing.
VI. Investments
California Government Code Section 53601 governs the investments permitted
for purchase by the Commission. Within the investments permitted by Code, the
Commission seeks to further restrict eligible investments to the investments listed
in Section VI.1 below. Percentage limitations, where indicated, apply at the time
of purchase. Percentage holdings with any one non-U.S. Government issuer or
non-Federal Agency issuer are further restricted to a maximum of 10% (direct
and indirect commitments). Rating requirements where indicated, apply at the
time of purchase. In the event a security held by the Commission is subject to a
rating change that brings it below the minimum specified rating requirement, the
Chief Financial Officer shall be authorized to act immediately and to notify the
Board of any actions taken in regards to the security. The course of action to be
followed will then be decided on a case-by-case basis, considering such factors
as the reason for the rate drop, prognosis for recovery or further rate drops, and
the market price of the security.
1. Eligible Investments
A. U.S. Government Issues. United States Treasury notes, bonds,
bills, or certificates of indebtedness, or those for which the faith and
credit of the United States are pledged for the payment of principal
and interest.
Revised September 10, 2014
63
B. Federal Agency Securities. Federal agency or United States
government-sponsored enterprise obligations, participations, or
other instruments, including those issued by or fully guaranteed as
to principal and interest by federal agencies or United States
government-sponsored enterprises.
C. Municipal Bonds.
Registered treasury notes or bonds of any of the other 49 United
States, in addition to California, payable solely out of the revenues
from a revenue-producing property owned, controlled, or operated
by a state or by a department, board, agency or authority of any of
the other 49 United States, in addition to California. Such securities
must have a maximum maturity of five (5) years and ratings from at
least one Nationally Recognized Statistical Rating Organization
(NRSRO) as follows: at least “Aa3/AA-/or AA-“ which denotes “Aa3”
by Moody’s Investors Service (Moody’s), or “AA-" by Standard &
Poor’s (S&P), or “AA-" by Fitch Ratings (Fitch); or as otherwise
approved by the Commission.
Registered general obligation treasury notes or bonds of any of
the 50 United States. Such securities must have a maximum
maturity of five (5) years and ratings from at least one NRSRO as
follows: at least “Aa3/AA-/or AA-“ or as otherwise approved by the
Commission.
Taxable or tax-exempt bonds, notes, warrants, or other evidences
of indebtedness of any local agency within the State of California
with a maximum maturity of five (5) years and ratings from at least
one NRSRO as follows: at least “Aa3/AA-/or AA-“ (the minimum
rating shall apply to the local agency, irrespective of any credit
enhancement), including bonds, notes, warrants, or other
evidences of indebtedness payable solely out of the revenues from
a revenue-producing property owned, controlled, or operated by
either the local agency, a department, board, agency, or authority
of the local agency, or of any local agency within this state.
Investments in municipal bonds are further limited to 25% of
surplus funds.
D. Tri-Party Repurchase Agreements. Tri-party repurchase
agreements are to be used solely as short-term investments not to
exceed 30 days. The Commission may enter into tri-party
repurchase agreements with primary government securities dealers
rated “A” or better by two NRSROs. Counterparties should also
have (i) a short-term credit rating of at least P-1/A-1/ or F-1; (ii)
minimum assets and capital size of $25 billion in assets and $350
Revised September 10, 2014
64
million in capital; (iii) five years of acceptable audited financial
results; and (iv) a strong reputation among market participants.
The following collateral restrictions will be observed: Only U.S.
Treasury securities or Federal Agency securities, as described in
V.1 A and B, will be acceptable collateral. All securities underlying
tri-party repurchase agreements must be delivered to the
Commission's custodian or fiscal agent bank versus payment or be
handled under a properly executed tri-party repurchase agreement.
The total market value of all collateral for each tri-party repurchase
agreement must equal or exceed 102 percent of the total dollar
value of the money invested by the Commission for the term of the
investment. For any tri-party repurchase agreement with a term of
more than one day, the value of the underlying securities must be
reviewed on an on-going basis according to market conditions.
Market value must be calculated each time there is a substitution of
collateral.
The Commission or its trustee shall have a perfected first security
interest under the Uniform Commercial Code in all securities
subject to tri-party repurchase agreement. The Commission shall
have properly executed a PSA agreement with each counterparty
with which it enters into tri-party repurchase agreements.
E. U.S. Corporate Debt. Medium-term notes, defined as all corporate
and depository institution securities with a maximum remaining
maturity of five years or less, issued by corporations organized and
operating within the United States or depository institutions licensed
by the United States or any state and operating within the United
States. Eligible investment shall be rated “Aa3/AA-/or AA-” or
better by at least one NRSRO. Investments in U.S. Corporate Debt
are further limited to 25% of surplus funds
F. Commercial Paper. Commercial paper rated in the highest
category by one or more nationally recognized statistical rating
organization (NRSRO). The entity that issues the commercial
paper shall meet all of the following conditions in either paragraph
(1) or paragraph (2):
(1) The entity meets the following criteria: (A) Is organized and
operating in the United States as a general corporation. (B) Has
total assets in excess of five hundred million dollars
($500,000,000). (C) Has debt other than commercial paper, if
any, that is rated “A” or higher by at least one NRSRO.
(2) The entity meets the following criteria: (A) Is organized within
the United States as a special purpose corporation, trust, or
Revised September 10, 2014
65
limited liability company. (B) Has program-wide credit
enhancements, including, but not limited to, over
collateralization, letters of credit, or surety bond. (C) Has
commercial paper that is rated at least “P-1/A-1/or F-1”, or the
equivalent, by at least one NRSRO.
Purchases of eligible commercial paper may not exceed 270 days
maturity nor represent more than 10 percent of the outstanding
paper of an issuing corporation. Investments in commercial paper
are limited to a maximum of 25% of surplus funds.
G. Banker’s Acceptances. Banker's acceptances issued by
domestic or foreign banks, which are eligible for purchase by the
Federal Reserve System. Purchases of banker’s acceptances may
not exceed 180 days maturity. Eligible banker’s acceptances are
restricted to issuing financial institutions with short-term paper rated
in the highest category by one or more nationally recognized rating
service. Investments in banker’s acceptances are further limited to
40% of surplus funds with no more than 30% of surplus invested in
the banker’s acceptances of any one commercial bank.
H. Money Market Mutual Funds. Shares of beneficial interest issued
by diversified management companies that are money market
funds registered with the Securities and Exchange Commission
under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1,
et seq.) and that invest solely in U.S. treasuries, obligations of the
U.S. Treasury, and repurchase agreements relating to such
treasury obligations.
The Commission may invest in shares of beneficial interest issued
by accompany shall have met either of the following criteria: (1)
Attained the highest ranking or the highest letter and numerical
rating provided by not less than two nationally recognized rating
services. (2) Retained an investment adviser registered or exempt
from registration with the Securities and Exchange Commission
with not less than five years’ experience managing money market
mutual funds with assets under management in excess of five
hundred million dollars ($500,000,000).
The purchase price of shares of beneficial interest purchased
pursuant to this subdivision shall not include any commission that
the companies may charge. Investments in Money Market Mutual
Funds are further limited to 20% of surplus funds.
I. Riverside County Pooled Investment Fund (“RCPIF”). The
Commission may invest in the Riverside County Pooled Investment
Revised September 10, 2014
66
Fund. As on-going due diligence, the Chief Financial Officer shall
obtain the information listed below:
• A description of eligible investment securities and a written
statement of investment policy.
• A description of the interest calculation, the frequency of interest
distributions, and the treatment of gains and losses in the
portfolio.
• A description of how often the securities are priced, how the
securities are safeguarded, and the audit arrangements.
• A description of who may invest in the program, how often they
may invest, and what size deposits and withdrawals are
allowed.
• A schedule for receiving statements and portfolio listings.
• A fee schedule, and when and how fees are assessed.
• The composition of the investment fund for each reporting
period.
J. State of California Local Agency Investment Fund (“LAIF”).
The Commission may invest in LAIF. As on-going due diligence,
the Chief Financial Officer shall obtain the information listed below:
• A description of eligible investment securities and a written
statement of investment policy.
• A description of the interest calculation, the frequency of interest
distributions, and the treatment of gains and losses in the
portfolio.
• A description of how often the securities are priced, how the
securities are safeguarded, and the audit arrangements.
• A description of who may invest in the program, how often they
may invest, and what size deposits and withdrawals are
allowed.
• A schedule for receiving statements and portfolio listings.
• A fee schedule, and when and how fees are assessed.
• The composition of the investment fund for each reporting
period.
K. Certificates of Deposit.
Negotiable Certificates of Deposit (NCD’s): NCDs are money
market instruments issued by a bank. They specify that a sum of
money has been deposited, payable with interest to the bearer of
the certificates on a certain date. NCDs are issued by nationally or
state chartered bank or state or federal savings and loan
Revised September 10, 2014
67
association. All purchases must be from institutions rated the
highest letter and number rating (P-1/A-1/or F-1) as provided for by
at least one NRSRO, as designated by the U.S. Securities and
Exchange Commission. The maturity of NCDs shall not exceed
180 days to maturity, and purchases of NCDs shall not exceed
thirty percent (30%) of the Commission’s investment portfolio.
NCDs shall be evaluated in terms of the credit worthiness of the
issuing institution, as these deposits are uninsured and
uncollateralized promissory notes.
FDIC-insured Certificates of Deposit: The principal amount of the
investment must be federally insured through the Federal Deposit
Insurance Corporation (FDIC). No more than the prevailing FDIC
insured coverage amount may be invested with any one deposit.
Certificates of Deposit placed through the Certificate of Deposit
Account Registry Service (CDARS) shall be considered fully
insured, assuming that the total amount invested with any
participating bank is limited to the prevailing FDIC insured coverage
amount. Interest on the principal must be paid to the Commission
at least annually. The placement of Certificates of Deposit with
local banks that qualify in accordance with Government Code
section 53601(h) is encouraged. The Commission, at its discretion,
may invest a portion of its surplus funds in certificates of deposit at
a commercial bank, savings bank, savings and loan association, or
credit union using a private sector entity to assist in the placement
of such certificates, provided that it complies with Government
Code Section 53601.8. Such investments may not exceed in total
twenty percent (20%) of the Commission’s funds invested pursuant
to Government Code Sections 53601.8, 53635.8 and 53601, and
shall have a maximum maturity of one year from the date of the
deposit.
Collateralized Certificates of Deposit: For investments exceeding
$100,000, there will be a waiver of collateral for the first $100,000
deposited and protected by FDIC insurance. The remainder of the
deposit shall be fully collateralized by U.S. Treasury and Federal
Agency securities having maturities less than five years. The
District must receive written confirmation that these securities have
been pledged in repayment of the time deposit. The securities
pledged as collateral must have a current market value greater than
the dollar amount of the deposit in keeping with the ratio
requirements specified in Section 53652 of the Government Code.
Additionally, a statement of the collateral shall be provided to the
Commission on a monthly basis. Such investments may not
exceed in total fifteen percent (15%) of the Commission’s funds
invested pursuant to Government Code Sections 53601.8, 53635.8
Revised September 10, 2014
68
and 53601, and shall have a maximum maturity of one year from
the date of the deposit.
L. Time Deposits. Federal Deposit Insurance Corporation insured
money market savings accounts or time deposits which
are deposited through depository institutions which are participants
of the Money Market Insured Deposit Account Service (“MMIDAS”).
M. Mortgage and Asset-backed Securities. Any mortgage pass-
through security, collateralized mortgage obligation, mortgage-
backed or other pay-through bond, equipment lease-backed
certificate, consumer receivable-backed bond of a maximum of five
(5) years’ maturity.
Securities eligible for investment under this subdivision shall be
issued by an issuer and rated at least “A3/A-/or A-“ for the issuer’s
debt as provided by at least one NRSRO and rated in the rating
category of “AAA” or its equivalent (excluding U.S.
Government/Agency-backed structured products which will be
permitted with their prevailing ratings even if those ratings are
below the rating category of “AAA”) by at least one NRSRO.
Purchase of these securities may not exceed 10% of the
Commission’s operating investment portfolio.
2. Eligible Investments for Bond Proceeds
Bond proceeds shall be invested in securities permitted by the applicable
bond documents. If the bond documents are silent as to permitted
investments, bond proceeds will be invested in securities permitted by this
Policy.
With respect to maximum maturities, the Policy authorizes investing bond
reserve fund proceeds beyond the five years if prudent in the opinion of
the Chief Financial Officer.
3. Ineligible Investments
As provided in California Government Code Section 53601.6, the
Commission shall not invest any funds in inverse floaters, range notes,
mortgage derived interest-only strips or in any security that could result in
zero interest accrual if held to maturity.
The purchase of any security not listed in Section VI.1 above, but
permitted by the California Government Code, is prohibited unless the
Board approves the investment either specifically or as a part of an
Revised September 10, 2014
69
investment program approved by the Board.
VII. Maximum Maturities
Maturities of investments will be selected to provide necessary liquidity, minimize
interest rate risk, and maximize earnings. Current and expected yield curve
analysis will be monitored and the portfolio will be invested accordingly. Because
of inherent difficulties in accurately forecasting cash flow requirements, a portion
of the portfolio should be continuously invested in readily available funds.
Where this Policy does not specify a maximum remaining maturity at the time of
the investment, no investment shall be made in any security, other than a
security underlying a repurchase or reverse repurchase agreement authorized by
this section, that at the time of the investment has a term remaining to maturity in
excess of five years.
VIII. Performance Standards
The Chief Financial Officer shall continually monitor and evaluate the portfolio’s
performance.
IX. Reporting
The Chief Financial Officer shall prepare and provide to the Board and the
Executive Director, within 30 days following the end of the quarter, a portfolio
report, which includes the following information:
• Type of investment
• Name of issuer
• Date of maturity
• Date of purchase
• Par value
• Original purchase cost
• Call date (if applicable)
• Current market value of securities
• Unrealized market value gain/loss
• Coupon rate, if applicable
• Yield to maturity
• Credit quality, as determined by one or more NRSROs, of each investment
• Average duration of portfolio
• Listing of all investment transactions during the quarter
• A statement that the portfolio complies with the investment policy, or the
manner in which the portfolio is not in compliance
Revised September 10, 2014
70
" A s t a t e m e n t d e n o t i n g t h e a b i l i t y o f t h e C o m m i s s i o n t o m e e t i t s l i q u i d i t y
r e q u i r e m e n t s f o r t h e n e x t s i x m o n t h s , o r p r o v i d e a n e x p l a n a t i o n a s t o w h y
s u f f i c i e n t m o n e y s h a l l , o r m a y n o t b e , a v a i l a b l e .
X . I n v e s t m e n t P r o c e d u r e s
T h e C h i e f F i n a n c i a l O f f i c e r , a s t h e B o a r d s d e s i g n e e , i s r e s p o n s i b l e f o r e n s u r i n g
c o m p l i a n c e w i t h t h e C o m m i s s i o n s i n v e s t m e n t p o l i c i e s a n d e s t a b l i s h i n g w r i t t e n
p r o c e d u r e s a n d i n t e r n a l c o n t r o l s f o r t h e o p e r a t i o n o f t h e i n v e s t m e n t p r o g r a m . N o
p e r s o n m a y e n g a g e i n i n v e s t m e n t t r a n s a c t i o n s e x c e p t a s p r o v i d e d u n d e r t h e t e r m s
o f t h i s P o l i c y a n d t h e w r i t t e n p r o c e d u r e s e s t a b l i s h e d b y t h e C h i e f F i n a n c i a l O f f i c e r .
T h e w r i t t e n p r o c e d u r e s s h o u l d a d d r e s s : d e l e g a t i o n o f a u t h o r i t y t o s u b o r d i n a t e s t a f f
m e m b e r s , c o n t r o l o f c o l l u s i o n , s e p a r a t i o n o f t r a n s a c t i o n a u t h o r i t y f r o m
a c c o u n t i n g a n d r e c o r d k e e p i n g , w r i t t e n c o n f i r m a t i o n s o f t r a n s a c t i o n s ,
r e c o n c i l i a t i o n o f c u s t o d y s t a t e m e n t s , a n d w i r e t r a n s f e r p r o c e d u r e s a n d
a g r e e m e n t s . A n i n d e p e n d e n t a n a l y s i s b y a n e x t e r n a l a u d i t o r s h a l l b e c o n d u c t e d
a n n u a l l y t o r e v i e w i n t e r n a l c o n t r o l , a c c o u n t a c t i v i t y , a n d c o m p l i a n c e w i t h p o l i c i e s
a n d p r o c e d u r e s .
X I . A u t h o r i z e d B r o k e r D e a l e r s a n d F i n a n c i a l I n s t i t u t i o n s
T h e C h i e f F i n a n c i a l O f f i c e r s h a l l m a i n t a i n a l i s t o f a u t h o r i z e d b r o k e r / d e a l e r s a n d
f i n a n c i a l i n s t i t u t i o n s w h i c h a r e a p p r o v e d f o r i n v e s t m e n t p u r p o s e s . I t s h a l l b e t h e
C o m m i s s i o n s p o l i c y t o p u r c h a s e s e c u r i t i e s o n l y f r o m t h o s e a u t h o r i z e d
i n s t i t u t i o n s a n d f i r m s . S e p a r a t e l i s t s s h a l l b e m a i n t a i n e d f o r b r o k e r / d e a l e r s a n d
f i n a n c i a l i n s t i t u t i o n s a p p r o v e d f o r r e p u r c h a s e a g r e e m e n t s a n d t h o s e a p p r o v e d f o r
t h e p u r c h a s e o f o t h e r s e c u r i t i e s . I f a n i n v e s t m e n t a d v i s o r i s u s e d , t h e y m a y u s e
t h e i r o w n l i s t o f a p p r o v e d b r o k e r / d e a l e r s a n d f i n a n c i a l i n s t i t u t i o n s f o r i n v e s t m e n t
p u r p o s e s .
T o b e e l i g i b l e , a f i r m m u s t m e e t t h e f o l l o w i n g m i n i m u m c r i t e r i a : ( i ) a n i n s t i t u t i o n
l i c e n s e d b y t h e s t a t e a s a b r o k e r - d e a l e r , o r f r o m a m e m b e r o f a f e d e r a l l y
r e g u l a t e d s e c u r i t i e s e x c h a n g e , f r o m a n a t i o n a l o r s t a t e - c h a r t e r e d b a n k , f r o m a
f e d e r a l o r s t a t e a s s o c i a t i o n o r f r o m a b r o k e r a g e f i r m d e s i g n a t e d a s a p r i m a r y
g o v e r n m e n t d e a l e r b y t h e F e d e r a l R e s e r v e b a n k ; a n d ( i i ) a l l b r o k e r / d e a l e r f i r m s
a n d i n d i v i d u a l s m u s t b e p r o p e r l y r e g i s t e r e d w i t h t h e N A S D a n d / o r S E C t o
t r a n s a c t b u s i n e s s i n t h e r e l e v a n t g e o g r a p h i c l o c a t i o n s a n d p r o d u c t s e c t o r s . I n
a d d i t i o n , c o u n t e r p a r t i e s f o r R e p u r c h a s e A g r e e m e n t s s h a l l b e l i m i t e d t o p r i m a r y
g o v e r n m e n t s e c u r i t i e s d e a l e r s r a t e d A o r b e t t e r b y t w o N R S R O s .
C o u n t e r p a r t i e s s h a l l a l s o h a v e ( i ) a s h o r t - t e r m c r e d i t r a t i n g o f a t l e a s t P - 1 / A - 1 / o r
F - 1 ; ( i i ) m i n i m u m a s s e t s a n d c a p i t a l s i z e o f $ 2 5 b i l l i o n i n a s s e t s a n d $ 3 5 0 m i l l i o n
i n c a p i t a l ; ( i i i ) f i v e y e a r s o f a c c e p t a b l e a u d i t e d f i n a n c i a l r e s u l t s ; a n d ( i v ) a s t r o n g
r e p u t a t i o n a m o n g m a r k e t p a r t i c i p a n t s .
T h e C h i e f F i n a n c i a l O f f i c e r s h a l l s e l e c t b r o k e r / d e a l e r s a n d o t h e r f i n a n c i a l
i n s t i t u t i o n s o n t h e b a s i s o f t h e f i r m s e x p e r t i s e a n d c r e d i t w o r t h i n e s s . T h e
R e v i s e d S e p t e m b e r 1 0 , 2 0 1 4
7 1
Commission shall annually send a copy of the current investment policy to all
dealers approved to do business with the Commission. Each broker dealer or
financial institution that has been authorized by the Commission shall be required
to submit and annually update a Broker/Dealer Questionnaire which includes the
firm’s most recent financial statements. The Chief Financial Officer shall
maintain a file for each firm approved for investment purposes, which includes
the most recent Broker/Dealer Questionnaire.
XII. Safekeeping and Custody
To protect the Commission’s assets, all securities owned by the Commission
shall be held in safekeeping in the Commission’s name by a third party bank trust
department, acting as agent for the Commission under the terms of a custody
agreement executed by the bank and the Commission. All securities will be
received and delivered using standard delivery versus payment (DVP)
procedures; the Commission's safekeeping agent will only release payment for a
security after the security has been properly delivered.
Physical delivery securities shall be avoided whenever possible, as book entry
securities are much easier to transfer and account for since actual delivery of a
document never takes place. In addition, delivered securities must be properly
safeguarded against loss or destruction. The potential for fraud and loss increases
with physically delivered securities.
XIII. Ethics and Conflicts of Interest
The Commission adopts the following policy concerning conflicts of interest:
1. Officers and employees involved in the investment process shall refrain
from personal business activity that could conflict with proper execution of
the investment program or which could impair their ability to make
impartial investment decisions.
2. Officers and employees involved in the investment process shall disclose
any material financial interest in any financial institution that conducts
business with the Commission, and they shall further disclose any large
personal financial/investment positions that could be related to the
performance of the Commission’s portfolio.
3. Officers shall refrain from undertaking personal investment transactions
with the same individual with whom business is conducted on behalf of the
Commission.
XIV. Investment Policy Review
Revised September 10, 2014
72
The Chief Financial Officer shall annually render to the Board a statement of
investment policy, which the Board must consider at a public meeting. Any
changes to the policy shall also be considered by the Board at a public meeting.
Revised September 10, 2014
73
AGENDA ITEM 8
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Michele Cisneros, Finance Manager/Controller
THROUGH: Theresia Trevino, Chief Financial Officer
SUBJECT: CalPERS Delegation of Authority to Request Disbursements
STAFF RECOMMENDATION:
This item is for the Committee to:
1) Designate the Chief Financial Officer, Deputy Executive Director, and Finance
Manager/Controller to request disbursements from the CalPERS pre-funding plan;
2) Authorize the Chair to execute the Delegation of Authority to Request Disbursements;
and
3) Forward to the Commission for final action.
BACKGROUND INFORMATION:
On June 13, 2007, the Commission approved a plan to pre-fund the Commission’s post
retirement health benefits liability, approved a policy to fund 100 percent of the annual
required contributions, adopted Resolution No. 07-005 “Agreement and Election of Riverside
County Transportation Commission to Pre-fund Other Post Employment Benefits through
CalPERS”, designated the Chief Financial Officer and Accounting and Human Resources
Manager to request disbursements from the CalPERS pre-funding plan, and authorized the
Chair to execute the Delegation of Authority to Request Disbursements on behalf of the
Commission.
Since the Commission is a member of the Public Employees’ Medical and Hospital Care Act
(PEMHCA), it is required to periodically update CalPERS forms. Therefore, CalPERS requested
the Delegation of Authority to Request Disbursements form be updated to correct the change
in position title from Accounting and Human Resources Manager to Finance
Manager/Controller. Additionally, CalPERS provided the ability to delegate a third position title
to the Delegation of Authority to Request Disbursements.
Staff recommends the Chief Financial Officer, Deputy Executive Director, and Finance
Manager/Controller be designated to request disbursements from the pre-funding plan and the
Chair be authorized to execute the Delegation of Authority to Request Disbursements, which is
included as an attachment.
This staff report has no financial impact.
Attachment: Delegation of Authority to Request Disbursements
Agenda Item 8 74
DELEGATION OF AUTHORITY
TO REQUEST DISBURSEMENTS
OPEB Delegation of Authority (1/13)
RESOLUTION
OF THE
(GOVERNING BODY)
OF THE
(NAME OF EMPLOYER)
The delegates to the incumbents
(GOVERNING BODY)
in the positions of and
(TITLE)
and/or
(TITLE)
authority to request on
(TITLE)
behalf of the Employer disbursements from the Other Post Employment Prefunding
Plan and to certify as to the purpose for which the disbursed funds will be used.
By
Title
Witness
Date
75
AGENDA ITEM 9
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Theresia Trevino, Chief Financial Officer
THROUGH: John Standiford, Deputy Executive Director
SUBJECT: Substitution of Standby Bond Purchase Agreements for 2009 Sales Tax
Revenue Bonds
STAFF RECOMMENDATION:
This item is for the Committee to:
1) Adopt Resolution No. 14-026, “Resolution of the Riverside County Transportation
Commission Authorizing the Execution and Distribution of an Offering Memorandum
Relating to the Outstanding Sales Tax Revenue Bonds, Ratifying Prior Authorizations of
the Execution and Delivery of One or More Standby Agreements and One or More
Remarketing Agreements, and Authorizing the Taking of All Other Actions Necessary in
Connection Therewith”;
2) Ratify the replacement of the standby bond purchase agreements (SBPAs) and
accompanying fee letters (collectively referred to as Liquidity Facilities) for the 2009
Sales Tax Revenue Bonds Series A, Series B, and Series C (2009 Bonds) with The Bank of
Tokyo-Mitsubishi UFJ, Ltd. (BTMU) in place of the Liquidity Facilities currently provided
by JPMorgan Chase Bank, N.A. (JPMorgan);
3) Ratify the amended and restated remarketing agreements with Barclays Capital Inc.
(Barclays) and Stifel, Nicolaus & Company (Stifel), as remarketing agents;
4) Approve the draft remarketing memorandum related to the new Liquidity Facilities for
the 2009 Bonds and authorize the Executive Director and/or other authorized
representative to approve distribution of the remarketing memorandum by Barclays
and Stifel;
5) Approve the estimated costs of $250,000 to be incurred in connection with the
replacement of the Liquidity Facilities to be paid from 2009 Measure A Western County
Bond Financing Program funds; and
6) Forward to the Commission for final action.
BACKGROUND INFORMATION:
At its August 2009 meeting, the Commission adopted Resolution 09-017 and authorized the
issuance of $185 million in sales tax revenue bonds. The bonds were issued in October 2009 as
variable rate bonds in three series – A, B, and C – which require liquidity support, with a final
maturity in June 2029. As a variable rate debt issue, the 2009 Bonds were integrated with the
Agenda Item 9
76
interest rate swaps executed in 2006 and 2008 that became effective in October 2009. Interest
rates on the bonds are reset weekly by the remarketing agents – Barclays; Stifel, as assigned by
De La Rosa & Co. Inc.; and Backstrom McCarley Berry & Co. LLC. (Backstrom) – with such rates
determined, in part, based on the market performance of similar, tax-exempt bonds with
similar liquidity support. To support each series of the 2009 Bonds, the Commission executed
three SBPAs with JPMorgan for two-year Liquidity Facilities, which expired on September 29,
2011.
At its July 2011 meeting, the Commission adopted Resolution 11-010 (together with Resolution
09-017, the authorizing resolutions) regarding the extension of the Liquidity Facilities for a
three-year period through September 29, 2014, and changes in certain terms, including a
reduction in the cost of the Liquidity Facilities and the release of all of the approximately
$14.4 million debt service reserve. The release of the reserve fund allowed the Commission to
fund additional project costs.
DISCUSSION:
Since the current Liquidity Facilities with JPMorgan expire in September, the Commission
recently conducted a procurement for the extension or replacement of the Liquidity Facilities or
an alternative structure. At the July 2014 meeting, the Commission awarded the replacement
of the Liquidity Facilities to BTMU and authorized the Executive Director, pursuant to legal
counsel review, to execute the agreements on behalf of the Commission. Staff has substantially
completed negotiations regarding the terms and conditions of the SBPAs and accompanying fee
letters, for which the current draft forms are attached to this staff report. The replacement
Liquidity Facilities will become effective on September 18 (substitution date), and the Liquidity
Facilities with JPMorgan will terminate on such date without the assessment of a termination
fee.
Staff reassessed remarketing agent assignments and renegotiated the remarketing fees;
Backstrom advised that it intends to resign as the remarketing agent for Series C effective on
the substitution date. Accordingly, staff, in consultation with the Commission’s financial
advisors, Fieldman, Rolapp & Associates (Fieldman), reassigned the remarketing agents as
follows:
• Barclays will terminate its remarketing duties related to Series A, with a current
outstanding amount of $70.9 million, and commence remarketing duties for Series B
and Series C on the substitution date; and
• Stifel will terminate its remarketing duties related to Series B, with current outstanding
amounts of $54.21 million and $29.19 million, respectively, and commence remarketing
duties for Series A on the substitution date.
Additionally, the fees paid to the remarketing agents will be reduced by 40 percent as of the
substitution date. The form for the amended and restated remarketing agreements is included
with this staff report.
Agenda Item 9
77
In connection with the Authorizing Resolutions, the Commission authorized the execution and
delivery by the Commission of any agreement that amended and/or replaced any of the
financing agreements or remarketing agents relating to the 2009 Bonds. Staff, Fieldman, and
legal counsel have reviewed the SBPAs, including the accompanying fee letter, and the
remarketing agreements. Although Commission approval of the agreements is not required,
staff requests their ratification.
As a result of the replacement of the Liquidity Facilities provider for the 2009 Bonds, an offering
document, or remarketing memorandum, is required to describe the new Liquidity Facilities
and information about BTMU as well as to adopt a related resolution approving that document.
Disclosure counsel prepared the attached draft remarketing memorandum, and bond counsel
prepared the attached Resolution No. 14-026 regarding the approval of the remarketing
memorandum and ratification of prior authorization regarding agreements. Staff requests the
Commission’s approval of Resolution No. 14-026 and the form of the remarketing
memorandum and authorization of the remarketing memorandum’s distribution in connection
with the replacement of the Liquidity Facilities for the 2009 Bonds. The remarketing
memorandum is required under state and federal securities laws prohibiting the public offer
and sale of securities such as the 2009 Bonds, unless all matters that would be material to an
investor in the 2009 Bonds have been adequately disclosed and there is no omission of material
facts.
As noted in previous debt issuances, the Commissioners serving on the Board as the
governing body of the issuer of the 2009 Bonds are expected to read and be familiar with the
information described in the remarketing memorandum. The Commissioners may employ
the services of experts to take the lead in the drafting and review of the remarketing
memorandum; however, the Commissioners have the duty to review the information and
bring to the attention of those responsible for the preparation of the offering document any
misstatements or omissions in the draft and to ask questions if they are unclear about the
information or their role. For issues of sales tax revenue bonds secured by SBPAs, the
Commissioners may rely on the professional advice of experts as to the disclosure regarding
the bank. Accordingly, each Commissioner’s responsibility for information in the remarketing
memorandum is limited to information regarding the Commission. Staff will be available at
the September Commission meeting to respond to the identification of any misstatements or
omissions or to such questions related to the draft remarketing memorandum.
Professional services costs to be incurred in connection with the replacement of the Liquidity
Facilities are estimated at $250,000. Such professional services include the financial advisor,
bond counsel, disclosure counsel, general counsel, bank counsel, remarketing agent counsel,
and rating agencies. The FY 2014/15 budget includes sufficient amounts for the Liquidity
Facility and professional services costs, and a budget adjustment is not required.
Agenda Item 9
78
NEXT STEPS:
The current Liquidity Facilities expire on September 29, 2014. Due to the timing provisions
relating to mandatory tender of the 2009 Bonds and subsequent remarketing of the 2009
Bonds on the substitution date under the replacement Liquidity Facilities and new remarketing
agent assignments, it is important for the Commission to approve staff’s recommendations at
this Commission meeting.
Financial Information
In Fiscal Year Budget: Yes Year: FY 2014/15 Amount: $250,000
Source of Funds: 2009 Measure A Western County Bond
Financing Budget Adjustment: No
GL/Project Accounting No.: 264 19 65101/65520 $250,000
Fiscal Procedures Approved: Date: 08/14/2014
Attachments: CD Enclosed
1) Resolution No. 14-026
2) Draft Standby Bond Purchase Agreement Form
3) Draft Fee Letter
4) Draft Amended and Restated Remarketing Agreement Form
5) Draft Remarketing Memorandum
Agenda Item 9
79
AGENDA ITEM 10
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Theresia Trevino, Chief Financial Officer
THROUGH: John Standiford, Deputy Executive Director
SUBJECT: Substitution of Letter of Credit for Commercial Paper Program
STAFF RECOMMENDATION:
This item is for the Committee to:
1) Approve Agreement No. 14-19-150-00 to State Street Bank and Trust Company (State
Street Bank) for letter of credit (LOC) in the stated amount of $60.75 million related to
the 2005 Commercial Paper Program for a period of three years, in an amount not to
exceed $600,000;
2) Adopt Resolution No. 14-027, “Resolution of the Riverside County Transportation
Commission Ratifying and Confirming Prior Authorization Relating to Its Commercial
Paper Notes, Including the Execution and Delivery of a Substitute Credit Agreement and
Related Documents, and a Supplement to Offering Memorandum and the Taking of All
Other Actions Necessary in Connection Therewith”;
3) Ratify the draft reimbursement agreement and accompanying fee letter for the
provision of a letter of credit (collectively referred to as Liquidity Facility) by and
between the Commission and State Street Bank relating to the Commission’s
Commercial Paper Notes, Series A and authorization for the Executive Director and/or
other authorized representative to approve and execute the final reimbursement
agreement;
4) Approve the draft supplemental offering memorandum related to the new Liquidity
Facility for the Commercial Paper Notes, Series A and authorize the Executive Director
and/or other authorized representative to approve distribution of the supplement to
the offering memorandum by Barclays Capital Inc. (Barclays), as commercial paper
dealer;
5) Approve the estimated costs of $200,000 related to the replacement of the Liquidity
Facility to be paid from 2009 Measure A Western County Bond Financing Program
funds; and
6) Forward to the Commission for final action.
BACKGROUND INFORMATION:
In February 2005, the Commission authorized a $200 million commercial paper program to
advance right of way acquisition, environmental mitigation, and project development related to
Agenda Item 10
80
the 2009 Measure A. The commercial paper program in the amount of $185 million was
established with the Commission’s adoption of Resolution No. 05-001 in March 2005. The
Commission entered into agreements with Barclays, as assigned by Lehman Brothers, and Bank
of America Merrill Lynch (BAML), formerly Banc of America Securities LLC, to serve as the
commercial paper dealers for the $110 million Series A commercial paper notes (Series A notes)
and $75 million Series B commercial paper notes (Series B notes), respectively. A five-year,
$190 million direct pay letter of credit with Bank of America, N.A. (Bank of America) was
obtained as a Liquidity Facility for the commercial paper program and expired in March 2010.
As a result of Commission action in February 2010, the letter of credit with Bank of America was
extended to March 2012 and the commercial paper program was reduced to $120 million. Due
to the reduction in commercial paper program in 2010, the dealer agreements were also
amended to reflect $75 million for Barclays and $45 million for BAML.
The letter of credit for the commercial paper program functions as security for investors in the
Commission’s commercial paper notes if the Commission were unable to pay off or refinance
the outstanding notes at maturity. In 2012 staff determined that the commercial paper
program should be maintained at $120 million to continue the short-term financing activities in
anticipation of the issuance of the long-term financing for the State Route 91 Corridor
Improvement Project (91 Project). Accordingly, staff solicited banks for interest and availability
for a letter of credit to support the commercial paper program upon the expiration of the Bank
of America Liquidity Facility. At its March 2012 meeting, the Commission adopted Resolution
No. 12-009 (together with Resolution No. 05-001, the Authorizing Resolutions) to ratify the
replacement Liquidity Facilities with Union Bank, N.A. (Union Bank) and The Bank of Tokyo-
Mitsubishi UFJ, Ltd. (Bank of Tokyo) for the Series A notes and Series B notes, respectively.
These Liquidity Facilities expire on October 17, 2014.
Following the conclusion of the 91 Project financing activities in July 2013, the Commission
terminated the Liquidity Facility with Bank of Tokyo for the Series B notes and the related
dealer agreement with BAML. Accordingly, the effect left only the Series A notes supported by
the Union Bank Liquidity Facility expiring on October 17, 2014. At the September 2013
meeting, the Commission adopted Resolution No. 13-021 to reduce the commercial paper
program to $60 million.
Procurement Process
Based upon a review of the objectives of the commercial paper program and consideration of
potential short-term financing needs of the Commission over the next few years, staff
commenced a procurement for the extension or replacement of the Liquidity Facility for the
Series A notes. Staff determined the weighted factor method of source selection to be the
most appropriate for this procurement, as it allows the Commission to identify the most
advantageous proposal with price and other factors considered. Non-price factors include
elements such as qualifications of financial institutions and the ability to respond to the
Commission’s needs for liquidity support or alternative structure(s) as set forth under the terms
of Request for Proposals (RFP) No. 14-19-150-00.
Agenda Item 10
81
The RFP was released by staff and advertised in the Press Enterprise on July 2, 2014. A pre-
proposal conference call was held on July 9; five firms participated. Commission staff
responded to all questions submitted by potential proposers prior to the July 10 response
deadline. Seven firms – BAML; Barclays.; Citigroup Global Markets Inc.; State Street Bank; U.S.
Bank National Association; Bank of Tokyo.; and Wells Fargo Bank, N.A. – submitted proposals
prior to the July 24 submittal deadline. All seven firms submitted responsive and responsible
proposals. Utilizing the evaluation criteria set forth in the RFP, the seven firms were evaluated
and scored by an evaluation committee comprised of Commission staff with consultation
provided by the Commission’s financial advisory firm, Fieldman, Rolapp & Associates
(Fieldman).
Based on the evaluation committee’s assessment of the written proposals, pursuant to the
terms of the RFP, the evaluation committee recommends a letter of credit and reimbursement
agreement for the 2005 Commercial Paper Program. The evaluation committee does not
recommend an alternative structure due to cost, administrative burden, legal, and/or tax and
accounting considerations. The top four financial institutions proposing on the letter of credit
in descending order were:
• State Street Bank
• Barclays
• Wells Fargo Bank, N.A.
• BAML
The evaluation committee recommends a reimbursement agreement and accompanying fee
letter with State Street Bank for a $60 million letter of credit and applicable interest coverage of
$750,000 for a stated amount of $60.75 million for a period of three years at a cost not to
exceed $600,000, including bank counsel fees, as that financial institution earned the highest
total evaluation score under the evaluation criteria of the RFP. Staff and its financial team have
substantially concluded negotiations with State Street Bank regarding the terms and conditions
of the letter of credit. The initial draft of the letter of credit and reimbursement agreement and
accompanying fee letter are attached to this staff report.
The recommended financial institution’s fees were competitively established and considered
fair and reasonable based upon adequate price competition under the above referenced
procurement process. The fees represent a 43 percent reduction from the current letter of
credit fees. State Street Bank offered the most advantageous combination of qualifications,
liquidity support, and pricing. Staff is confident State Street Bank will provide the Commission
with the required liquidity support at the best possible price and terms.
Next Steps
In connection with the authorizing resolutions, the Commission authorized the Commission’s
representatives to take any action necessary for the amendment of documents without further
Agenda Item 10
82
authorization by the Commission. Staff, Fieldman, and legal counsel have reviewed the letter of
credit and reimbursement agreement, including the accompanying fee letter. Although
Commission approval of these agreements is not required, staff requests their ratification.
As a result of the new Liquidity Facility with State Street Bank, a supplemental offering
memorandum will be required to describe the new letter of credit and information about State
Street Bank. Disclosure counsel prepared the attached draft supplemental offering
memorandum, and bond counsel prepared the attached Resolution No. 14-027 regarding the
approval of the supplemental offering memorandum and ratification of prior authorization
regarding agreements. Staff requests the Commission’s approval of Resolution No. 14-027 and
the form of the supplemental offering memorandum and authorization of the supplemental
offering memorandum’s distribution in connection with the replacement of the Liquidity
Facility for the 2005 Commercial Paper Program. Although there currently are no outstanding
commercial paper notes, the supplemental offering memorandum is required under state and
federal securities laws prohibiting the offer and sale of securities such as the 2005 Commercial
Paper Program, unless all matters that would be material to an investor in the 2005 Commercial
Paper Program have been adequately disclosed and there is no omission of material facts.
As noted in previous debt issuances, the Commissioners serving on the Board as the
governing body of the issuer are expected to read and be familiar with the supplement to the
offering memorandum. The Commissioners may employ the services of experts to take the
lead in the drafting and review of such offering document; however, the Commissioners have
the duty to review the information and bring to the attention of those responsible for the
preparation of the offering document any misstatements or omissions in the draft and to ask
questions if they are unclear about the information or their role. For issues of commercial
paper notes secured by a letter of credit, the Commissioners may rely on the professional
advice of experts as to the disclosure regarding the banks, and investors are told on the cover
page to make their investment decisions solely on the basis of the creditworthiness of the
bank. Accordingly, each Commissioner’s responsibility for information in the supplement is
limited to information regarding the Commission. Staff will be available at the Commission
meeting to respond to the identification of any misstatements or omissions or to such
questions related to the draft of the supplemental offering memorandum, which is included
with this staff report.
Professional services costs to be incurred in connection with the replacement of the Liquidity
Facility are estimated at $200,000. Such professional services include the financial advisor,
bond counsel, disclosure counsel, general counsel, bank counsel, and rating agencies. The
FY 2014/15 budget includes sufficient amounts for the Liquidity Facility fees and for
professional services costs, and a budget adjustment is not required.
Agenda Item 10
83
Financial Information
In Fiscal Year Budget: Yes
N/A Year: FY 2014/15
FY 2015/16+ Amount: $350,000
$450,000
Source of Funds: 2009 Measure A Western County Bond
Financing Budget Adjustment: No
N/A
GL/Project Accounting No.: 264 19 65XXX $200,000 (professional services)
264 19 65505 $600,000 (bank fees)
Fiscal Procedures Approved: Date: 08/15/2014
Attachments: CD Enclosed
1) Resolution No. 14-027
2) Draft Reimbursement Agreement
3) Draft Fee Agreement
4) Draft Supplemental Offering Memorandum
Agenda Item 10
84
AGENDA ITEM 11
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Shirley Medina, Planning and Programming Director
THROUGH: John Standiford, Deputy Executive Director
SUBJECT:
Active Transportation Program – Recommended Statewide Competitive
Program of Projects and Proposed Projects for the Metropolitan Planning
Organization Active Transportation Program Regional Program Cycle 1,
Fiscal Years 2014/15 and 2015/16
STAFF RECOMMENDATION:
This item is for the Committee to:
1) Approve the staff recommendation for the Riverside County Active Transportation
Program (ATP) projects for inclusion in the Metropolitan Planning Organization (MPO)
ATP Regional Program Cycle 1 consisting of the top seven highest scoring projects
identified in Table 2;
2) Submit the seven projects to the Southern California Association of Governments
(SCAG) for inclusion in the MPO ATP Regional Program and direct staff to work with
SCAG and the Commission’s Technical Advisory Committee (TAC) on adjusting the
amount of the approved projects, if necessary, in order to be constrained within
Riverside County’s MPO ATP target for FY 2014/15 and FY 2015/16;
3) Allow staff to assign the appropriate fund source to each MPO ATP regional project in
Riverside County for Federal Transportation Improvement Program (FTIP) programming
and fund allocation purposes; and
4) Forward to the Commission for final action.
BACKGROUND INFORMATION:
SB 99 created the ATP focusing state and federal funds toward projects that improve public
health and reduce greenhouse gases. Project categories for these funds mainly include
pedestrian and bike facilities or programs that enhance or encourage walking and bicycling.
The first cycle of the ATP began with the release of a call for projects on March 20, 2014. The
call for projects included three categories of funding:
Funding Category Amount
Statewide Competitive $ 184,050,000
Small Urban and Rural Competitive (10 percent set aside) 36,810,000
Large MPO Competitive (40 percent set aside) 147,240,000
Total Available ATP Funds – Cycle 1 $ 368,100,000
Agenda Item 11
85
Applications were due to the California Transportation Commission (CTC) and Caltrans by
May 21. A total of 771 project applications valued at over $1 billion in funds were submitted to
the CTC. Scoring of applications was managed by Caltrans and involved the participation of
various agencies including, but not limited to, regional transportation planning agencies, MPOs,
Caltrans, councils of governments, county public health departments, and advocacy and
interest groups such as Safe Routes to Schools (SRTS), California Bicycle Coalition, and Rails to
Trails. In total, Riverside County agencies submitted 34 projects requesting over $54 million of
ATP funding through this first cycle of funding.
CTC/Caltrans Statewide Competitive Funding Recommendations
On August 8, the CTC released its draft project recommendations for the statewide competitive
component, which is scheduled for approval on August 20. The draft recommendations include
the following projects for Riverside County:
TABLE 1
CTC/CALTRANS RECOMMENDED FUNDING FOR RIVERSIDE COUNTY – STATEWIDE
COMPETITION
Agency Project ATP Funds *DAC Score
Riverside County City of Jurupa – SRTS $ 500,000 94.7
Jurupa Valley Troth Street – SRTS 627,000 91.5
Riverside County City of Indio – SRTS 500,000 90.3
Perris Murrieta Road Pedestrian Imp. 1,100,000 89.7
Jurupa Valley Pyrite Street – SRTS 665,000 89.0
Riverside Downtown Bike/Pedestrian Imp. 877,000 88.0
CVAG CV-Link 10,900,000 87.0
Perris PVSD Trail 1,202,000 86.3
Indio A Jackson Elementary Pedestrian Imp. 2,581,000 84.7
Moreno Valley Citywide – SRTS Pedestrian Imp. 1,640,000 84.3
San Jacinto Safe & Active San Jacinto – SRTS 989,000 82.0
Riverside County ATP City of Perris – SRTS 350,000 79.7
Riverside County Statewide Total $ 21,931,000
*DAC – Disadvantaged Community per CTC guidelines
MPO Regional ATP Funding Recommendation
Per the SCAG ATP agreement with the county transportation commissions, projects not
recommended for the statewide competitive pot would be considered for funding from the
MPO regional competitive pot. The SCAG MPO share is approximately $74 million for
infrastructure projects and $3.9 million for planning activities. The MPO ATP funds are
distributed as follows:
Agenda Item 11
86
County Funding
Imperial $718,000
Los Angeles $40,411,000
Orange $12,389,000
Riverside $9,012,000
San Bernardino $8,376,000
Ventura $3,389,000
Total $74,295,000
At the April Commission meeting, staff presented SCAG’s ATP guidelines that allow each county
transportation commission to add 10 points to the CTC score for projects that are consistent
with adopted local and regional plans, which the Commission approved. All Riverside County
projects are consistent with, at a minimum, the SCAG adopted 2012 Regional Transportation
Plan/Sustainable Communities Strategy that identifies active transportation projects as a
strategy in reducing greenhouse gas emissions, specifically bicycle and pedestrian improvement
projects. Adding 10 points to Riverside County project scores to the projects not recommended
for the statewide competitive program results in the following projects being recommended for
the Riverside County share of the MPO ATP regional program:
TABLE 2
MPO RIVERSIDE COUNTY ATP FUNDING RECOMMENDATIONS
Agency Project CTC
Score
CTC Score
+ 10 pts
ATP
Funds
Cumulative
Total
Riverside
County
Clark Street Sidewalk and Intersection
Safety Improvements
79.5 89.5 $ 721,000 $ 721,000
Riverside
County
Avenida Rambla Sidewalk Safety
Improvements
79.3 89.3 356,000 1,077,000
Riverside
County
Grapefruit/4th Pedestrian and Road
Improvements
79.0 89.0 2,330,000 3,407,000
Riverside Iowa/Martin Luther King Boulevard
Bike Improvements
75.0 85.0 267,000 3,674,000
Coachella ATP Improvements 74.3 84.3 1,764,000 5,438,000
Riverside Wells/Arlanza Sidewalk Improvements 71.3 81.3 1,782,000 7,220,000
Riverside Norte Vista Sidewalk Improvements 69.0 79.0 2,575,000 *9,795,000
Total Riverside County MPO/ATP Share $9,012,000
*County share is overprogrammed by $783,000.
Projects below are recommended as contingency in the event projects cannot be delivered
Eastvale SRTS at Multiple Schools: signalized
crossings and radar speed displays
68.3 78.3 $ 479,000 $10,274,000
Riverside
County
Install Sidewalks and Safety
Improvements
67.7 77.7 878,000 11,152,000
Riverside
County
Mecca Sidewalk and Roadway Safety
Improvements
65.7 75.7 571,000 11,723,000
Agenda Item 11
87
Riverside Railroad Crossing Sidewalk
Improvements
59.0 69.0 1,655,000 13,378,000
Palm Springs Bicycles on Every Street (Class II & III) 57.0 67.0 1,700,000 15,078,000
Riverside Bridge Lighting Improvements 56.7 66.7 326,000 15,404,000
Riverside Santa Ana River Trail Improvements 52.3 62.3 3,211,000 18,615,000
Riverside
County
3rd Place Sidewalk & Roadway Safety
Improvements
52.3 62.3 881,000 19,496,000
Temecula Santa Gertrudis Creek Pedestrian/
Bicycle Trail Extension and
Interconnect
52.0 62.0 3,543,000 23,039,000
Wildomar Murrieta Creek Multi-Use Trail
Connectivity Phase 1
51.0 61.0 861,000 23,900,000
Riverside Ramona Sidewalk Improvement 46.0 56.0 3,923,000 27,823,000
Murrieta Murrieta Creek Trail-Copper Canyon
Bridge and Clinton Keith Trail
42.5 52.5 577,000 28,400,000
Riverside Co
Parks
Salt Creek Parkway, Phase III 42.5 52.5 3,251,000 31,651,000
Jurupa Area
Recreation
and Park
District
Horseshoe Lake Park Trailhead 34.3 44.3 391,000 32,042,000
SCAG will recommend approval of the project below in its 5 percent planning pot
WRCOG Subregional Active Transportation Plan 80 90 $ 333,000 $32,375,000
Staff will discuss partial funding or reduced funding for one or more projects with project
sponsors and SCAG to determine if any adjustment is needed to maintain Riverside County’s
ATP target. SCAG will compile and review all of the six county transportation commission’s
project recommendations into one MPO program that meets the SCAG MPO fund level of
$74.295 million. It is possible that one county may be underprogrammed allowing another
county to overprogram. If this is the case, SCAG will keep a record and carryover any
debits/credits in the next ATP cycle to make certain each county gets its fair share.
Per ATP guidelines, a minimum of 25 percent of the MPO program must benefit disadvantaged
communities. All projects in the above table, with the exception of Iowa/Martin Luther King
Boulevard Bike Improvements, qualified as disadvantaged communities. To qualify as a
disadvantaged community, projects had to meet one of the following criteria:
• Median Household Income of less than $49,120;
• CalEnvironScreen score must be 38.46 or higher; and/or
• Percentage of students eligible for free or reduced price meals must be at least 75 percent
As previously indicated, the ATP program consists of state and federal funding. For projects
approved in the statewide competitive component, the CTC will assign either state or federal
funds at the time of allocation. Projects approved under the MPO regional program will be
assigned state or federal funding prior to or soon after the CTC approval in November in order
Agenda Item 11
88
to program the appropriate fund source in the FTIP. Staff will make every effort to assign the
appropriate color of money to ensure project delivery success to the extent possible.
Next Steps
Upon approval of the MPO Riverside County projects, staff will submit the seven highest scoring
projects to SCAG for inclusion in the MPO ATP Regional Program Cycle 1, which will be
approved at the SCAG Regional Council meeting on October 2. SCAG will submit the MPO
Regional ATP projects to the CTC for final approval at the CTC’s November 12 meeting.
There will be future ATP funding cycles with the next cycle scheduled within the year. Staff will
continue to participate in CTC/Caltrans working groups to further develop and improve the ATP
guidelines and process and participate in future evaluations of ATP project applications.
Staff will work closely with project sponsors in preparing allocation funding requests and
requests for obligating federal funds. Project sponsors must obtain concurrence from the
Commission on each allocation request for funding as required by the CTC. Projects will also be
required to be included in the FTIP.
As a condition of the project allocation for the statewide and MPO ATP programs, the CTC will
require project sponsors to submit semi-annual reports on the activities and progress made
toward implementation of the project, and a final delivery report is required upon project
completion. The purpose of the reports is to ensure that the project is implemented in a timely
manner according to the scope and budget identified in the project application.
ATP funds are administered through the CTC, Caltrans, and Federal Highway Administration.
The Commission is not a recipient of these funds; therefore, there is no fiscal impact to the
Commission’s budget.
Agenda Item 11
89
Active Transportation Program
(ATP) Update
Shirley Medina
Planning and Programming Director
August 25, 2014
ATP Funding
Funding Category Amount
Statewide Competitive (50 percent set aside)$ 184,050,000
Small Urban and Rural Competitive (10 percent set aside)36,810,000
Large MPO Competitive (40 percent set aside)147,240,000
Total Available ATP Funds –Cycle 1 $ 368,100,000
CTC/Caltrans Approved Funding for
Riverside County –Statewide
Competition
TABLE 1
Agency Project ATP Funds *DAC Score
Riverside County City of Jurupa –SRTS $ 500,000 94.7
Jurupa Valley Troth Street –SRTS 627,000 91.5
Riverside County City of Indio –SRTS 500,000 90.3
Perris Murrieta Road Pedestrian Imp.1,100,000 89.7
Jurupa Valley Pyrite Street –SRTS 665,000 89.0
Riverside Downtown Bike/Pedestrian Imp.877,000 88.0
CVAG CV-Link 10,900,000 87.0
Perris PVSD Trail 1,202,000 86.3
Indio A Jackson Elementary Pedestrian Imp.2,581,000 84.7
Moreno Valley Citywide –SRTS Pedestrian Imp.1,640,000 84.3
San Jacinto Safe and Active San Jacinto –SRTS 989,000 82.0
Riverside County ATP City of Perris –SRTS 350,000 79.7
Riverside County Statewide Total $ 21,931,000
*DAC –Disadvantaged Community per CTC guidelines
SCAG/MPO share of ATP
Funding
County Funding
Imperial $718,000
Los Angeles $40,411,000
Orange $12,389,000
Riverside $9,012,000
San Bernardino $8,376,000
Ventura $3,389,000
Total $74,295,000
MPO Riverside County ATP Funding
Recommendations
TABLE 2
Agency Project CTC
Score
CTC Score + 10
pts
ATP Funds Cumulative Total
Riverside County Clark Street Sidewalk and Intersection Safety Improvements 79.5 89.5 $721,000 $721,000
Riverside County Avenida Rambla Sidewalk Safety Improvements 79.3 89.3 356,000 1,077,000
Riverside County Grapefruit/4th Pedestrian and Road Improvements 79.0 89.0 2,300,000 3,377,000
Riverside Iowa/Martin Luther King Boulevard Bike Improvements 75.0 85.0 267,000 3,644,000
Coachella ATP Improvements 74.3 84.3 1,764,000 5,408,000
Riverside Wells/Arlanza Sidewalk Improvements 71.3 81.3 1,782,000 7,190,000
Riverside Norte Vista Sidewalk Improvements 69.0 79.0 2,575,000 *9,765,000
Total Riverside County MPO/ATP Share $9,012,000
*County share is overprogrammed by $753,000.
Projects below are recommended as contingency in the event projects cannot be delivered
Eastvale SRTS at Multiple Schools: signalized crossings and radar speed displays 68.3 78.3 $479,000 $10,274,000
Riverside County Install Sidewalks and Safety Improvements 67.7 77.7 878,000 11,152,000
Riverside County Mecca Sidewalk and Roadway Safety Improvements 65.7 75.7 571,000 11,723,000
Riverside Railroad Crossing Sidewalk Improvements 59.0 69.0 1,655,000 13,378,000
Palm Springs Bicycles on Every Street (Class II & III)57.0 67.0 1,700,000 15,078,000
Riverside Bridge Lighting Improvements 56.7 66.7 326,000 15,404,000
Riverside Santa Ana River Trail Improvements 52.3 62.3 3,211,000 18,615,000
Riverside County 3rd Place Sidewalk & Roadway Safety Improvements 52.3 62.3 881,000 19,496,000
Temecula Santa Gertrudis Creek Pedestrian/ Bicycle Trail Extension and Interconnect 52.0 62.0 3,543,000 23,039,000
Wildomar Murrieta Creek Multi-Use Trail Connectivity Phase 1 51.0 61.0 861,000 23,900,000
Riverside Ramona Sidewalk Improvement 46.0 56.0 3,923,000 27,823,000
Murrieta Murrieta Creek Trail-Copper Canyon Bridge and Clinton Keith Trail 42.5 52.5 577,000 28,400,000
Riverside Co Parks Salt Creek Parkway, Phase III 42.5 52.5 3,251,000 31,651,000
Jurupa Area Recreation and
Park District
Horseshoe Lake Park Trailhead 34.3 44.3 391,000 32,042,000
SCAG will recommend approval of the project below in its 5 percent planning pot
WRCOG Subregional Active Transportation Plan 80.0 90.0 $333,000 $32,375,000
AGENDA ITEM 12
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Eliza Echevarria, Community Relations Manager
THROUGH: John Standiford, Deputy Executive Director
SUBJECT: Agreements for On-Call Coordination Public Outreach Services
STAFF RECOMMENDATION:
This item is for the Committee to:
1) Award the following agreements to provide on-call coordination public outreach
services for a three-year term and two one-year options to extend the agreement in an
amount not to exceed an aggregate value of $500,000;
a) Agreement No. 14-31-118-00 with Arellano Associates;
b) Agreement No. 14-31-119-00 with Moore lacofano Goltsman, Inc. (MIG); and
c) Agreement No. 14-31-120-00 with Simon Wong Engineering, Inc.;
2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute
the agreements, including option years, on behalf of the Commission;
3) Authorize the Executive Director, or designee, to execute task orders awarded to
contractors under the terms of the agreements; and
4) Forward to the Commission for final action.
BACKGROUND INFORMATION:
Over the last three years, the Commission maintained an on-call construction coordination
public outreach agreement, which expired in June 2014. This agreement was utilized to meet
the outreach needs for specific capital projects that were contractually deficient in this area.
While the need was met for those on-call outreach efforts, the agreement was project specific
and did not meet the public outreach needs in any other areas of the Commission.
With the 10-Year Western Riverside County Highway Delivery Plan well underway, the public
outreach needs have grown. The current outreach needs are, for the most part, met by a
subconsultant component of construction management primary agreements with the
Commission. However, the Commission has had an increasing need for public outreach services
that fall outside of the subconsultant’s scope of work that are currently in place. This on-call
public outreach agreement would fill the gap on needs that are not captured in any current
agreement. Some examples of these types of tasks would be: business expo special events,
video production and social media enhancements for Commission marketing, rail safety
Agenda Item 12
90
education, incorporation of public outreach emerging technologies, and smaller capital projects
without a public outreach component.
The agreements for the on-call coordination public outreach services bench will allow the
Commission to have the ability to respond to the technological advances that are constantly
changing and will allow the Commission to keep the public informed in the multifaceted ways in
which the community receives information. This agreement will also allow the Commission to
expand on events that come about by other successful efforts from individual projects. The
Commission would also be able to provide an overarching external communications outreach
that would offer a comprehensive outreach program to the communities and commuters of
Riverside County.
Procurement Process
Staff determined the weighted factor method of source selection to be the most appropriate
for this procurement, as it allows the Commission to identify the most advantageous proposal
with price and other factors considered. Non-price factors include elements such as
qualifications of financial institutions and the ability to respond to the Commission’s needs for
on-call coordination public outreach services as set forth under the terms of Request for
Proposals (RFP) No. 14-31-118-00.
RFP No. 14-31-118-00 for on-call coordination public outreach services was released by staff on
May 8, 2014. A public notice was advertised in the Press Enterprise, and the RFP was posted on
the Commission’s PlanetBids website, which is accessible through the Commission’s website.
Utilizing PlanetBids, emails were sent to 26 firms, five of which are located in Riverside County.
Through the PlanetBids website, 31 firms downloaded the RFP, four of these firms are located
in Riverside County. A pre-bid conference was held on May 22, attended by six firms; one firm
is local to Riverside County. Staff responded to all questions submitted by potential proposers
prior to the May 29 clarification deadline date. Eight firms – Arellano Associates (Chino Hills);
CALTROP (Rancho Cucamonga); FSB Core Strategies (Costa Mesa); Green Com, Inc. (Riverside);
Hill International (Ontario); MBI Media (Covina); MIG (Riverside); and Simon Wong Engineering,
Inc. (Riverside) – submitted responsive and responsible proposals prior to the June 5, 2:00 p.m.
submittal deadline. Utilizing the evaluation criteria set forth in the RFP, all firms were
evaluated and scored by an evaluation committee comprised of Commission and Orange
County Transportation Authority staff.
Based on the evaluation committee’s assessment of the written proposals and pursuant to the
terms of the RFP, the evaluation committee shortlisted and invited five firms to the interview
phase of the evaluation and selection process. Interviews of the shortlisted firms – Arellano
Associates; Green Com, Inc.; MBI Media; MIG; and Simon Wong Engineering, Inc. – were
conducted on July 16.
The evaluation committee conducted a subsequent evaluation of each firm. Accordingly, the
evaluation committee recommends contract award to Arellano Associates, MIG, and Simon
Agenda Item 12
91
Wong Engineering, Inc. for on-call coordination public outreach services, as these firms earned
the highest total evaluation scores.
The multiple award, on-call, indefinite delivery/indefinite quantity task order type contracts do
not guarantee work to any of the awardees; therefore, no funds are guaranteed to any
consultant. Pre-qualified consultants will be selected for specific tasks based on information
contained in their proposal. Services will be provided through the Commission’s issuance of
contract task orders to the consultants on an as-needed basis. The Commission’s standard
form professional services agreement will be entered into with the consultants subject to any
changes approved by the Executive Director, and pursuant to legal counsel review. Staff
oversight of the agreement will maximize the effectiveness of the consultants and minimize
costs to the Commission.
Financial Information
In Fiscal Year Budget: Yes
N/A Year: FY 2014/15
FY 2015/16+ Amount: $ 150,000
$ 350,000
Source of Funds:
Measure A, Local Transportation Fund,
TUMF, and Motorist Assistance
Administration Funds
Budget Adjustment: No
N/A
GL/Project Accounting No.: 001001 65520 00000 0001 101 15 65520
Fiscal Procedures Approved: Date: 08/14/2014
Attachment: Standard Form On-Call Professional Services Agreement
Agenda Item 12
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MODEL CONTRACT
Agreement No. 14-31-118-00
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
AGREEMENT FOR ON-CALL CONSTRUCTION COORDINATION PUBLIC
OUTREACH SERVICES WITH [CONSULTANT]
1.PARTIES AND DATE.
This Agreement is made and entered into this ___ day of ______, 2014, by and
between the RIVERSIDE COUNTY TRANSPORTATION COMMISSION ("the
Commission") and [NAME OF FIRM] ("Consultant"), a [LEGAL STATUS OF
CONSULTANT e.g., CORPORATION].
2.RECITALS.
2.1 Consultant desires to perform and assume responsibility for the
provision of certain professional consulting services required by Commission on the
terms and conditions set forth in this Agreement and in the task order(s) to be issued
pursuant to this Agreement and executed by the Commission and Consultant ("Task
Order"). Consultant represents that it is a professional consultant, experienced in
providing on-call [INSERT TYPE OF SERVICES] services to public clients, is licensed
in the State of California, and is familiar with the plans of Commission.
2.2 Commission desires to engage Consultant to render [INSERT
TYPE OF SERVICES] services, on an on-call basis. Services shall be ordered by Task
Order(s) to be issued pursuant to this Agreement for future projects as set forth herein
(each such project shall be designated a “Project” under this Agreement).
3.TERMS.
3.1 General Scope of Services. Consultant promises and agrees to
furnish to Commission all labor materials, tools, equipment, services, and incidental and
customary work, on an on-call basis, as necessary to fully and adequately provide
professional consulting services and advice on various issues affecting the decisions of
Commission regarding the Project and on other programs and matters affecting
Commission, hereinafter referred to as "Services". The types of Services to be provided
are generally described in Exhibit “A” attached hereto and incorporated herein by
reference. The Services shall be more particularly described in the individual Task
Order issued by the Commission’s Executive Director or designee. No Services shall
be performed unless authorized by a fully executed Task Order in the form attached
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hereto as Exhibit "C". All Services shall be subject to, and performed in accordance,
with this Agreement, the relevant Task Order, the exhibits attached hereto and
incorporated herein by reference, and all applicable local, state and federal laws, rules
and regulations.
3.2 Term. The term of this Agreement shall be from the date first
specified above to ________________, unless earlier terminated as provided herein.
Consultant shall complete the Services within the term of this Agreement and shall meet
any other established schedules and deadlines set forth in the Task Order. All
applicable indemnification provisions of this Agreement shall remain in effect following
the termination of this Agreement.
3.3 Schedule of Services. Consultant shall perform the Services
expeditiously, within the term of this Agreement, and in accordance with the specific
schedule that shall be set forth in the Task Order ("Schedule of Services"). Consultant
shall be required to commence work within five (5) days of receiving a fully
executed Task Order. Consultant represents that it has the professional and technical
personnel required to perform the Services in conformance with such conditions. In
order to facilitate Consultant’s conformance with each Schedule, the Commission shall
respond to Consultant’s submittals in a timely manner. Upon the Commission’s
request, Consultant shall provide a more detailed schedule of anticipated performance
to meet the relevant Schedule of Services.
3.4 Independent Contractor; Control and Payment of Subordinates.
The Services shall be performed by Consultant under its supervision. Consultant will
determine the means, method and details of performing the Services subject to the
requirements of this Agreement. Commission retains Consultant on an independent
contractor basis and Consultant is not an employee, agent or representative of
Commission. Consultant retains the right to perform similar or different services for
others during the term of this Agreement. Any additional personnel performing the
Services under this Agreement on behalf of Consultant shall not be employees of
Commission and shall at all times be under Consultant's exclusive direction and control.
Consultant shall pay all wages, salaries, and other amounts due such personnel in
connection with their performance of Services under this Agreement and as required by
law. Consultant shall be responsible for all reports and obligations respecting such
additional personnel, including, but not limited to: social security taxes, income tax
withholding, unemployment insurance, and workers' compensation insurance.
3.5 Conformance to Applicable Requirements. All work prepared by
Consultant shall be subject to the approval of Commission.
3.6 Substitution of Key Personnel Consultant has represented to
Commission that certain key personnel will perform and coordinate the Services under
this Agreement. Should one or more of such personnel become unavailable,
Consultant may substitute other personnel of at least equal competence and experience
upon written approval of Commission. In the event that Commission and Consultant
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cannot agree as to the substitution of key personnel, Commission shall be entitled to
terminate this Agreement for cause, pursuant to provisions of Section 3.16 of this
Agreement. The key personnel for performance of this Agreement are as follows:
[INSERT NAME], or as otherwise specified in the relevant Task Order.
3.7 Commission’s Representative. Commission hereby designates the
Executive Director, or his or her designee, to act as its representative for the
performance of this Agreement ("Commission’s Representative"). Commission's
Representative shall have the power to act on behalf of Commission for all purposes
under this Agreement. Commission’s Representative shall also review and give
approval, as needed, to the details of Consultant’s work as it progresses. Consultant
shall not accept direction from any person other than Commission's Representative or
his or her designee.
3.8 Consultant’s Representative. Consultant hereby designates
[INSERT NAME], or his or her designee, to act as its representative for the performance
of this Agreement ("Consultant’s Representative"). Consultant’s Representative shall
have full authority to represent and act on behalf of the Consultant for all purposes
under this Agreement. The Consultant’s Representative shall supervise and direct the
Services, using his or her best skill and attention, and shall be responsible for all
means, methods, techniques, sequences and procedures and for the satisfactory
coordination of all portions of the Services under this Agreement and as described in
the relevant Task Order.
3.9 Coordination of Services. Consultant agrees to work closely with
Commission staff in the performance of Services and shall be available to Commission's
staff, consultants and other staff at all reasonable times.
3.10 Standard of Care; Licenses. Consultant shall perform the Services
under this Agreement in a skillful and competent manner, consistent with the standard
generally recognized as being employed by professionals in the same discipline in the
State of California. Consultant represents and maintains that it is skilled in the
professional calling necessary to perform the Services. Consultant warrants that all
employees and subcontractors shall have sufficient skill and experience to perform the
Services assigned to them. Finally, Consultant represents that it, its employees and
subcontractors have all licenses, permits, qualifications and approvals of whatever
nature that are legally required to perform the Services and that such licenses and
approvals shall be maintained throughout the term of this Agreement. Consultant shall
perform, at its own cost and expense and without reimbursement from Commission, any
Services necessary to correct errors or omissions which are caused by the Consultant’s
failure to comply with the standard of care provided for herein, and shall be fully
responsible to the Commission for all damages and other liabilities provided for in the
indemnification provisions of this Agreement arising from the Consultant’s errors and
omissions. Any employee of Consultant or its sub-consultants who is determined by the
Commission to be uncooperative, incompetent, a threat to the adequate or timely
completion of the Project, a threat to the safety of persons or property, or any employee
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who fails or refuses to perform the Services in a manner acceptable to the Commission,
shall be promptly removed from the Project by the Consultant and shall not be re-
employed to perform any of the Services or to work on the Project.
3.11 Laws and Regulations. Consultant shall keep itself fully informed of
and in compliance with all local, state and federal laws, rules and regulations in any
manner affecting the performance of the Project or the Services, including all Cal/OSHA
requirements, and shall give all notices required by law. Consultant shall be liable for all
violations of such laws and regulations in connection with Services. If the Consultant
performs any work knowing it to be contrary to such laws, rules and regulations and
without giving written notice to Commission, Consultant shall be solely responsible for
all costs arising therefrom. Consultant shall defend, indemnify and hold Commission, its
officials, directors, officers, employees and agents free and harmless, pursuant to the
indemnification provisions of this Agreement, from any claim or liability arising out of any
failure or alleged failure to comply with such laws, rules or regulations.
3.12 Insurance.
3.12.1 Time for Compliance. Consultant shall not commence work
under this Agreement until it has provided evidence satisfactory to the Commission that
it has secured all insurance required under this section, in a form and with insurance
companies acceptable to the Commission. In addition, Consultant shall not allow any
subcontractor to commence work on any subcontract until it has secured all insurance
required under this section.
3.12.2 Minimum Requirements. Consultant shall, at its expense,
procure and maintain for the duration of the Agreement insurance against claims for
injuries to persons or damages to property which may arise from or in connection with
the performance of the Agreement by the Consultant, its agents, representatives,
employees or subcontractors. Consultant shall also require all of its subcontractors to
procure and maintain the same insurance for the duration of the Agreement. Such
insurance shall meet at least the following minimum levels of coverage:
(A) Minimum Scope of Insurance. Coverage shall be at
least as broad as the latest version of the following: (1) General Liability: Insurance
Services Office Commercial General Liability coverage (occurrence form CG 0001 or
exact equivalent); (2) Automobile Liability: Insurance Services Office Business Auto
Coverage (form CA 0001, code 1 (any auto) or exact equivalent); and (3) Workers’
Compensation and Employer’s Liability: Workers’ Compensation insurance as required
by the State of California and Employer’s Liability Insurance.
(B) Minimum Limits of Insurance. Consultant shall
maintain limits no less than: (1) General Liability: $2,000,000 per occurrence for bodily
injury, personal injury and property damage. If Commercial General Liability Insurance
or other form with general aggregate limit is used, either the general aggregate limit
shall apply separately to this Agreement/location or the general aggregate limit shall be
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twice the required occurrence limit; (2) Automobile Liability: $1,000,000 per accident for
bodily injury and property damage; and (3) if Consultant has an employees, Workers’
Compensation and Employer’s Liability: Workers’ Compensation limits as required by
the Labor Code of the State of California. Employer’s Practices Liability limits of
$1,000,000 per accident.
3.12.3 [Reserved]
3.12.4 Insurance Endorsements. The insurance policies shall
contain the following provisions, or Consultant shall provide endorsements on forms
approved by the Commission to add the following provisions to the insurance policies:
(A) General Liability.
(i) Commercial General Liability Insurance must
include coverage for (1) Bodily Injury and Property Damage; (2) Personal
Injury/Advertising Injury; (3) Premises/Operations Liability; (4) Products/Completed
Operations Liability; (5) Aggregate Limits that Apply per Project; (6) Explosion, Collapse
and Underground (UCX) exclusion deleted; (7) Contractual Liability with respect to this
Agreement; (8) Broad Form Property Damage; and (9) Independent Consultants
Coverage.
(ii) The policy shall contain no endorsements or
provisions limiting coverage for (1) contractual liability; (2) cross liability exclusion for
claims or suits by one insured against another; or (3) contain any other exclusion
contrary to the Agreement.
(iii) The policy shall give the Commission, its
directors, officials, officers, employees, and agents insured status using ISO
endorsement forms 20 10 10 01 and 20 37 10 01, or endorsements providing the exact
same coverage.
(iv) The additional insured coverage under the
policy shall be “primary and non-contributory” and will not seek contribution from the
Commission’s insurance or self-insurance and shall be at least as broad as CG 20 01
04 13, or endorsements providing the exact same coverage.
(B) Automobile Liability.
(i) The automobile liability policy shall be
endorsed to state that: (1) the Commission, its directors, officials, officers, employees
and agents shall be covered as additional insureds with respect to the ownership,
operation, maintenance, use, loading or unloading of any auto owned, leased, hired or
borrowed by the Consultant or for which the Consultant is responsible; and (2) the
insurance coverage shall be primary insurance as respects the Commission, its
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directors, officials, officers, employees and agents, or if excess, shall stand in an
unbroken chain of coverage excess of the Consultant ’s scheduled underlying coverage.
Any insurance or self-insurance maintained by the Commission, its directors, officials,
officers, employees and agents shall be excess of the Consultant ’s insurance and shall
not be called upon to contribute with it in any way.
(C) Workers’ Compensation and Employers Liability
Coverage.
(i) Consultant certifies that he/she is aware of the
provisions of Section 3700 of the California Labor Code which requires every employer
to be insured against liability for workers’ compensation or to undertake self -insurance
in accordance with the provisions of that code, and he/she will comply with such
provisions before commencing work under this Agreement.
(ii) The insurer shall agree to waive all rights of
subrogation against the Commission, its directors, officials, officers, employees and
agents for losses paid under the terms of the insurance policy which arise from work
performed by the Consultant.
(D) All Coverages.
(i) Defense costs shall be payable in addition to
the limits set forth hereunder.
(ii) Requirements of specific coverage or limits
contained in this section are not intended as a limitation on coverage, limits, or other
requirement, or a waiver of any coverage normally provided by any insurance. It shall
be a requirement under this Agreement that any available insurance proceeds broader
than or in excess of the specified minimum insurance coverage requirements and/or
limits set forth herein shall be available to the Commission, its directors, officials,
officers, employees and agents as additional insureds under said policies. Furthermore,
the requirements for coverage and limits shall be (1) the minimum coverage and limits
specified in this Agreement; or (2) the broader coverage and maximum limits of
coverage of any Insurance policy or proceeds available to the named insured;
whichever is greater.
(iii) The limits of insurance required in this
Agreement may be satisfied by a combination of primary and umbrella or excess
insurance. Any umbrella or excess insurance shall contain or be endorsed to contain a
provision that such coverage shall also apply on a primary and non-contributory basis
for the benefit of the Commission (if agreed to in a written contract or agreement) before
the Commission’s own insurance or self-insurance shall be called upon to protect it as a
named insured. The umbrella/excess policy shall be provided on a “following form”
basis with coverage at least as broad as provided on the underlying policy(ies).
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(iv) Consultant shall provide the Commission at
least thirty (30) days prior written notice of cancellation of any policy required by this
Agreement, except that the Consultant shall provide at least ten (10) days prior written
notice of cancellation of any such policy due to non-payment of premium. If any of the
required coverage is cancelled or expires during the term of this Agreement, the
Consultant shall deliver renewal certificate(s) including the General Liability Additional
Insured Endorsement to the Commission at least ten (10) days prior to the effective
date of cancellation or expiration.
(v) The retroactive date (if any) of each policy is to
be no later than the effective date of this Agreement. Consultant shall maintain such
coverage continuously for a period of at least three years after the completion of the
work under this Agreement. Consultant shall purchase a one (1) year extended
reporting period A) if the retroactive date is advanced past the effective date of this
Agreement; B) if the policy is cancelled or not renewed; or C) if the policy is replaced by
another claims-made policy with a retroactive date subsequent to the effective date of
this Agreement.
(vi) The foregoing requirements as to the types
and limits of insurance coverage to be maintained by Consultant, and any approval of
said insurance by the Commission, is not intended to and shall not in any manner limit
or qualify the liabilities and obligations otherwise assumed by the Consultant pursuant
to this Agreement, including but not limited to, the provisions concerning
indemnification.
(vii) If at any time during the life of the Agreement,
any policy of insurance required under this Agreement does not comply with these
specifications or is canceled and not replaced, Commission has the right but not the
duty to obtain the insurance it deems necessary and any premium paid by Commission
will be promptly reimbursed by Consultant or Commission will withhold amounts
sufficient to pay premium from Consultant payments. In the alternative, Commission
may cancel this Agreement. The Commission may require the Consultant to provide
complete copies of all insurance policies in effect for the duration of the Project.
(viii) Neither the Commission nor any of its
directors, officials, officers, employees or agents shall be personally responsible for any
liability arising under or by virtue of this Agreement.
3.12.5 Deductibles and Self-Insurance Retentions. Any deductibles
or self-insured retentions must be declared to and approved by the Commission. If the
Commission does not approve the deductibles or self-insured retentions as presented,
Consultant shall guarantee that, at the option of the Commission, either: (1) the insurer
shall reduce or eliminate such deductibles or self-insured retentions as respects the
Commission, its directors, officials, officers, employees and agents; or, (2) the
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Consultant shall procure a bond guaranteeing payment of losses and related
investigation costs, claims and administrative and defense expense s.
3.12.6 Acceptability of Insurers. Insurance is to be placed with
insurers with a current A.M. Best’s rating no less than A:VIII, licensed to do business in
California, and satisfactory to the Commission.
3.12.7 Verification of Coverage. Consultant shall furnish
Commission with original certificates of insurance and endorsements effecting coverage
required by this Agreement on forms satisfactory to the Commission. The certificates
and endorsements for each insurance policy shall be signed by a person authorized by
that insurer to bind coverage on its behalf. All certificates and endorsements must be
received and approved by the Commission before work commences. The Commission
reserves the right to require complete, certified copies of all required insurance policies,
at any time.
3.12.8 Subconsultant Insurance Requirements. Consultant shall
not allow any subcontractors or subconsultants to commence work on any subcontract
until they have provided evidence satisfactory to the Commission that they have
secured all insurance required under this section. Policies of commercial general
liability insurance provided by such subcontractors or subconsultants shall be endorsed
to name the Commission as an additional insured using ISO form CG 20 38 04 13 or a n
endorsement providing the exact same coverage. If requested by Consultant, the
Commission may approve different scopes or minimum limits of insurance for particular
subcontractors or subconsultants.
3.13 Safety. Consultant shall execute and maintain its work so as to
avoid injury or damage to any person or property. In carrying out its Services, the
Consultant shall at all times be in compliance with all applicable local, state and federal
laws, rules and regulations, and shall exercise all necessary precautions for the safety
of employees appropriate to the nature of the work and the conditions under which the
work is to be performed. Safety precautions as applicable shall include, but shall not be
limited to: (A) adequate life protection and life saving equipment and procedures; (B)
instructions in accident prevention for all employees and subcontractors, such as safe
walkways, scaffolds, fall protection ladders, bridges, gang planks, confined space
procedures, trenching and shoring, equipment and other safety devices, equipment and
wearing apparel as are necessary or lawfully required to prevent accidents or injuries;
and (C) adequate facilities for the proper inspection and maintenance of all safety
measures.
3.14 Fees and Payment.
3.14.1 Compensation. Consultant shall receive compensation,
including authorized reimbursements, for all Services rendered under this Agreement at
the rates set forth in Exhibit "B" attached hereto and incorporated herein by reference.
Compensation shall be on the basis of direct costs plus a fixed fee as further set forth in
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Exhibit “B”. The total compensation per Task Order shall be set forth in the relevant
Task Order, and shall not exceed said amount without written approval of the
Commission’s Executive Director. Extra Work may be authorized, as described below,
and if authorized, will be compensated at the rates and manner set forth in this
Agreement.
3.14.2 Payment of Compensation. Consultant shall submit to
Commission a monthly statement which indicates work completed and hours of
Services rendered by Consultant. The statement shall describe the amount of Services
and supplies provided since the initial commencement date, or since the start of the
subsequent billing periods, as appropriate, through the date of the statement.
Commission shall, within forty-five (45) days of receiving such statement, review the
statement and pay all approved charges thereon.
3.14.3 Reimbursement for Expenses. Consultant shall not be
reimbursed for any expenses unless authorized in writing by Commission.
3.14.4 Extra Work. At any time during the term of this Agreement,
Commission may request that Consultant perform Extra Work. As used herein, "Extra
Work" means any work which is determined by Commission to be necessary for the
proper completion of the Project, but which the parties did not reasonably anticipate
would be necessary at the execution of this Agreement. Consultant shall not perform,
nor be compensated for, Extra Work without written authorization from Commission's
Executive Director.
3.15 Accounting Records. Consultant shall maintain complete and
accurate records with respect to all costs and expenses incurred and fees charged
under this Agreement. All such records shall be clearly identifiable. Consultant shall
allow a representative of Commission during normal business hours to examine, audit,
and make transcripts or copies of such records and any other documents created
pursuant to this Agreement. Consultant shall allow inspection of all work, data,
documents, proceedings, and activities related to the Agreement for a period of three
(3) years from the date of final payment under this Agreement.
3.16 Termination of Agreement.
3.16.1 Grounds for Termination. Commission may, by written
notice to Consultant, terminate the whole or any part of this Agreement at any time and
without cause by giving written notice to Consultant of such termination, and specifying
the effective date thereof. Upon termination, Consultant shall be compensated only for
those services which have been fully and adequately rendered to Commission through
the effective date of the termination, and Consultant shall be entitled to no further
compensation. Consultant may not terminate this Agreement except for cause.
3.16.2 Effect of Termination. If this Agreement is terminated as
provided herein, Commission may require Consultant to provide all finished or
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unfinished Documents and Data, as defined below, and other information of any kind
prepared by Consultant in connection with the performance of Services under this
Agreement. Consultant shall be required to provide such document and other
information within fifteen (15) days of the request.
3.16.3 Additional Services. In the event this Agreement is
terminated in whole or in part as provided herein, Commission may procure, upon such
terms and in such manner as it may determine appropriate, services similar to those
terminated.
3.17 Delivery of Notices. All notices permitted or required under this
Agreement shall be given to the respective parties at the following address, or at such
other address as the respective parties may provide in writing for this purpose:
CONSULTANT: COMMISSION:
_____________________ Riverside County
_____________________ Transportation Commission
_____________________ 4080 Lemon Street, 3rd Floor
Riverside, CA 92501
_____________________ Attn: Executive Director
Such notice shall be deemed made when personally delivered or when
mailed, forty-eight (48) hours after deposit in the U.S. Mail, first class postage prepaid
and addressed to the party at its applicable address. Actual notice shall be deemed
adequate notice on the date actual notice occurred, regardless of the method of service.
3.18 Ownership of Materials/Confidentiality.
3.18.1 Documents & Data. This Agreement creates an exclusive
and perpetual license for Commission to copy, use, modify, reuse, or sub-license any
and all copyrights and designs embodied in plans, specifications, studies, drawings,
estimates, materials, data and other documents or works of authorship fixed in any
tangible medium of expression, including but not limited to, physical drawings or data
magnetically or otherwise recorded on computer diskettes, which are prepared or
caused to be prepared by Consultant under this Agreement (“Documents & Data”).
Consultant shall require all subcontractors to agree in writing that
Commission is granted an exclusive and perpetual license for any Documents & Data
the subcontractor prepares under this Agreement.
Consultant represents and warrants that Consultant has the legal
right to grant the exclusive and perpetual license for all such Documents & Data.
Consultant makes no such representation and warranty in regard to Documents & Data
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which were prepared by design professionals other than Consultant or provided to
Consultant by the Commission.
Commission shall not be limited in any way in its use of the
Documents & Data at any time, provided that any such use not within the purposes
intended by this Agreement shall be at Commission ’s sole risk.
3.18.2 Intellectual Property. In addition, Commission shall have
and retain all right, title and interest (including copyright, patent, trade secret and other
proprietary rights) in all plans, specifications, studies, drawings, estimates, materials,
data, computer programs or software and source code, enhancements, documents, and
any and all works of authorship fixed in any tangible medium or expression, including
but not limited to, physical drawings or other data magnetically or otherwise recorded on
computer media (“Intellectual Property”) prepared or developed by or on behalf of
Consultant under this Agreement as well as any other such Intellectual Property
prepared or developed by or on behalf of Consultant under this Agreement.
The Commission shall have and retain all right, title and interest in
Intellectual Property developed or modified under this Agreement whether or not paid
for wholly or in part by Commission, whether or not developed in conjunction with
Consultant, and whether or not developed by Consultant. Consultant will execute
separate written assignments of any and all rights to the above referenced Intellectual
Property upon request of Commission.
Consultant shall also be responsible to obtain in writing separate
written assignments from any subcontractors or agents of Consultant of any and all right
to the above referenced Intellectual Property. Should Consultant, either during or
following termination of this Agreement, desire to use any of the above-referenced
Intellectual Property, it shall first obtain the written approval of the Commission.
All materials and documents which were developed or prepared by
the Consultant for general use prior to the execution of this Agreement and which are
not the copyright of any other party or publicly available and any other computer
applications, shall continue to be the property of the Consultant. However, unless
otherwise identified and stated prior to execution of this Agreement, Consultant
represents and warrants that it has the right to grant the exclusive and perpetual license
for all such Intellectual Property as provided herein.
Commission further is granted by Consultant a non-exclusive and
perpetual license to copy, use, modify or sub-license any and all Intellectual Property
otherwise owned by Consultant which is the basis or foundation for any derivative,
collective, insurrectional, or supplemental work created under this Agreement.
3.18.3 Confidentiality. All ideas, memoranda, specifications, plans,
procedures, drawings, descriptions, computer program data, input record data, written
information, and other Documents and Data either created by or provided to Consultant
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in connection with the performance of this Agreement shall be held confidential by
Consultant. Such materials shall not, without the prior written consent of Commission,
be used by Consultant for any purposes other than the performance of the Services.
Nor shall such materials be disclosed to any person or entity not connected with the
performance of the Services or the Project. Nothing furnished to Consultant which is
otherwise known to Consultant or is generally known, or has become known, to the
related industry shall be deemed confidential. Consultant shall not use Commission's
name or insignia, photographs of the Project, or any publicity pertaining to the Services
or the Project in any magazine, trade paper, newspaper, television or radio production
or other similar medium without the prior written consent of Commission.
3.18.4 Infringement Indemnification. Consultant shall defend,
indemnify and hold the Commission, its directors, officials, officers, employees,
volunteers and agents free and harmless, pursuant to the indemnification provisions of
this Agreement, for any alleged infringement of any patent, copyright, trade secret, trade
name, trademark, or any other proprietary right of any person or entity in consequence
of the use on the Project by Commission of the Documents & Data, including any
method, process, product, or concept specified or depicted.
3.19 Cooperation; Further Acts. The Parties shall fully cooperate with
one another, and shall take any additional acts or sign any additional documents as
may be necessary, appropriate or convenient to attain the purposes of this Agreement.
3.20 Attorney's Fees. If either party commences an action against the
other party, either legal, administrative or otherwise, arising out of or in connection with
this Agreement, the prevailing party in such litigation shall be entitled to have and
recover from the losing party reasonable attorney's fees and costs of such actions.
3.21 Indemnification. Consultant shall defend, indemnify and hold
Commission, its directors, officials, officers, employees, consultants, agents and
volunteers free and harmless from any and all claims, demands, causes of action,
costs, expenses, liability, loss, damage or injury, in law or equity, to property or persons,
including wrongful death, in any manner arising out of or incident to any alleged
negligent acts, omissions or willful misconduct of Consultant, its officials, officers,
employees, agents, consultants and contractors arising out of or in connection with the
performance of the Services, the Project, this Agreement, or any Task Order, including
without limitation the payment of all consequential damages and attorneys fees and
other related costs and expenses. Consultant shall defend, at Consultant's own cost,
expense and risk, any and all such aforesaid suits, actions or other legal proceedings of
every kind that may be brought or instituted against Commission or its directors,
officials, officers, employees, consultants, agents and volunteers. Consultant shall pay
and satisfy any judgment, award or decree that may be rendered against Commission
or its directors, officials, officers, employees, consultants, agents and volunteers, in any
such suit, action or other legal proceeding. Consultant shall reimburse Commission and
its directors, officials, officers, employees, consultants, agents and/or volunteers, for any
and all legal expenses and costs incurred by each of them in connection therewith or in
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enforcing the indemnity herein provided. Consultant's obligation to indemnify shall not
be restricted to insurance proceeds, if any, received by Commission or its directors,
officials, officers, employees, consultants, agents and volunteers. Notwithstanding the
foregoing, to the extent Consultant's Services are subject to Civil Code Section 2782.8,
the above indemnity shall be limited, to the extent required by Civil Code Section
2782.8, to claims that arise out of, pertain to, or relate to the negligence, recklessness,
or willful misconduct of the Consultant. This Section 3.21 shall survive any expiration or
termination of this Agreement.
3.22 Entire Agreement. This Agreement contains the entire Agreement
of the parties with respect to the subject matter hereof, and supersedes all prior
negotiations, understandings or agreements. This Agreement may only be modified by
a writing signed by both parties.
3.23 Governing Law. This Agreement shall be governed by the laws of
the State of California. Venue shall be in Riverside County.
3.24 Time of Essence. Time is of the essence for each and every
provision of this Agreement.
3.25 Commission's Right to Employ Other Consultants. The
Commission reserves the right to employ other consultants in connection with this
Project.
3.26 Successors and Assigns. This Agreement shall be binding on the
successors and assigns of the parties, and shall not be assigned by Consultant without
the prior written consent of Commission.
3.27 Prohibited Interests.
3.27.1 Solicitation. Consultant maintains and warrants that it has
not employed nor retained any company or person, other than a bona fide employee
working solely for Consultant, to solicit or secure this Agreement. Further, Consultant
warrants that it has not paid nor has it agreed to pay any company or person, other than
a bona fide employee working solely for Consultant, any fee, commission, percentage,
brokerage fee, gift or other consideration contingent upon or resulting from the award or
making of this Agreement. For breach or violation of this warranty, Commission shall
have the right to rescind this Agreement without liability.
3.27.2 Conflict of Interest. For the term of this Agreement, no
member, officer or employee of Commission, during the term of his or her service with
Commission, shall have any direct interest in this Agreement, or obtain any present or
anticipated material benefit arising therefrom.
3.27.3 Conflict of Employment. Employment by the Consultant of
personnel currently on the payroll of the Commission shall not be permitted in the
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performance of this Agreement, even though such employment may occur outside of
the employee’s regular working hours or on weekends, holidays or vacation time.
Further, the employment by the Consultant of personnel who have been on the
Commission payroll within one year prior to the date of execution of this Agreement,
where this employment is caused by and or dependent upon the Consultant securing
this or related Agreements with the Commission, is prohibited.
3.28 Equal Opportunity Employment. Consultant represents that it is an
equal opportunity employer and it shall not discriminate against any employee or
applicant for employment because of race, religion, color, national origin, ancestry, sex
or age. Such non-discrimination shall include, but not be limited to, all activities related
to initial employment, upgrading, demotion, transfer, recruitment or recruitment
advertising, layoff or termination. Consultant shall also comply with all relevant pro vi-
sions of Commission's Disadvantaged Business Enterprise program, Affirmative Action
Plan or other related Commission programs or guidelines currently in effect or
hereinafter enacted.
3.29 Subcontracting. Consultant shall not subcontract any portion of the
work or Services required by this Agreement, except as expressly stated herein, without
prior written approval of the Commission. Subcontracts, if any, shall contain a provision
making them subject to all provisions stipulated in this Agreement.
3.30 Prevailing Wages. By its execution of this Agreement, Consultant
certified that it is aware of the requirements of California Labor Code Sections 1720 et
seq. and 1770 et seq., as well as California Code of Regulations, Title 8, Section 16000
et seq. (“Prevailing Wage Laws”), which require the payment of prevailing wage rates
and the performance of other requirements on certain “public works” and “maintenance”
projects. If the Services are being performed as part of an applicable “public works” or
“maintenance” project, as defined by the Prevailing Wage Laws, and if the total
compensation is $1,000 or more, Consultant agrees to fully comply with such Prevailing
Wage Laws. The Commission shall provide Consultant with a copy of the prevailing
rate of per diem wages in effect at the commencement of this Agreement. Consultant
shall make copies of the prevailing rates of per diem wages for each craft, classification
or type of worker needed to execute the Services available to interested parties upon
request, and shall post copies at the Consultant's principal place of business and at the
project site. Consultant shall defend, indemnify and hold the Commission, its elected
officials, officers, employees and agents free and harmless from any claims, liabilities,
costs, penalties or interest arising out of any failure or alleged failure to comply with the
Prevailing Wage Laws.
3.31 Employment of Apprentices. This Agreement shall not prevent the
employment of properly indentured apprentices in accordance with the California Labor
Code, and no employer or labor union shall refuse to accept otherwise qualified
employees as indentured apprentices on the work performed hereunder solely on the
ground of race, creed, national origin, ancestry, color or sex. Every qualified apprentice
shall be paid the standard wage paid to apprentices under the regulations of the craft or
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17336.02100\8354633.2
trade in which he or she is employed and shall be employed only in the craft or trade to
which he or she is registered.
If California Labor Code Section 1777.5 applies to the Services,
Consultant and any subcontractor hereunder who employs workers in any
apprenticeable craft or trade shall apply to the joint apprenticeship council administering
applicable standards for a certificate approving Consultant or any sub-consultant for the
employment and training of apprentices. Upon issuance of this certificate, Consultant
and any sub-consultant shall employ the number of apprentices provided for therein, as
well as contribute to the fund to administer the apprenticeship program in each craft or
trade in the area of the work hereunder.
The parties expressly understand that the responsibility for compliance
with provisions of this Section and with Sections 1777.5, 1777.6 and 1777.7 of the
California Labor Code in regard to all apprenticeable occupations lies with Consultant.
3.32 No Waiver. Failure of Commission to insist on any one occasion
upon strict compliance with any of the terms, covenants or conditions hereof shall not
be deemed a waiver of such term, covenant or condition, nor shall any waiver or
relinquishment of any rights or powers hereunder at any one time or more times be
deemed a waiver or relinquishment of such other right or power at any other time or
times.
3.33 Eight-Hour Law. Pursuant to the provisions of the California Labor
Code, eight hours of labor shall constitute a legal day's work, and the time of service of
any worker employed on the work shall be limited and restricted to eight hours during
any one calendar day, and forty hours in any one calendar week, except when payment
for overtime is made at not less than one and one-half the basic rate for all hours
worked in excess of eight hours per day ("Eight-Hour Law"), unless Consultant or the
Services are not subject to the Eight-Hour Law. Consultant shall forfeit to Commission
as a penalty, $50.00 for each worker employed in the execution of this Agreement by
him, or by any sub-consultant under him, for each calendar day during which such
workman is required or permitted to work more than eight hours in any calendar day
and forty hours in any one calendar week without such compensation for overtime
violation of the provisions of the California Labor Code, unless Consultant or the
Services are not subject to the Eight-Hour Law.
3.34 Subpoenas or Court Orders. Should Consultant receive a
subpoena or court order related to this Agreement, the Services or the Project,
Consultant shall immediately provide written notice of the subpoena or court order to the
Commission. Consultant shall not respond to any such subpoena or court order until
notice to the Commission is provided as required herein, and shall cooperate with the
Commission in responding to the subpoena or court order.
3.35 Survival. All rights and obligations hereunder that by their nature
are to continue after any expiration or termination of this Agreement, including, but not
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17336.02100\8354633.2
limited to, the indemnification and confidentiality obligations, and the obligations related
to receipt of subpoenas or court orders, shall survive any such expiration or termination.
3.36 No Third Party Beneficiaries. There are no intended third party
beneficiaries of any right or obligation assumed by the Parties.
3.37 Labor Certification. By its signature hereunder, Consultant certifies
that it is aware of the provisions of Section 3700 of the California Labor Code which
require every employer to be insured against liability for Workers’ Compensation or to
undertake self-insurance in accordance with the provisions of that Code, and agrees to
comply with such provisions before commencing the performance of the Services.
3.38 Counterparts. This Agreement may be signed in counterparts,
each of which shall constitute an original.
3.39 Incorporation of Recitals. The recitals set forth above are true and
correct and are incorporated into this Agreement as though fully set forth herein.
3.40 Invalidity; Severability. If any portion of this Agreement is declared
invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the
remaining provisions shall continue in full force and effect.
3.41 Conflicting Provisions. In the event that provisions of any attached
exhibits conflict in any way with the provisions set forth in this Agreement, the language,
terms and conditions contained in this Agreement shall control the actions and
obligations of the Parties and the interpretation of the Parties’ understanding concerning
the performance of the Services.
3.42 Headings. Article and Section Headings, paragraph captions or
marginal headings contained in this Agreement are for convenience only and shall have
no effect in the construction or interpretation of any provision herein.
3.43 Assignment or Transfer. Consultant shall not assign, hypothecate,
or transfer, either directly or by operation of law, this Agreement or any interest herein,
without the prior written consent of the Commission. Any attempt to do so shall be null
and void, and any assignees, hypothecates or transferees shall acquire no right or
interest by reason of such attempted assignment, hypothecation or transfer.
3.44 Authority to Enter Agreement. Consultant has all requisite power
and authority to conduct its business and to execute, deliver, and perform the
Agreement. Each Party warrants that the individuals who have signed this Agreement
have the legal power, right, and authority to make this Agreement and bind each
respective Party.
[Signatures on following page]
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17336.02100\8354633.2
SIGNATURE PAGE
TO
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
AGREEMENT FOR ON-CALL CONSTRUCTION COORDINATION PUBLIC
OUTREACH SERVICES WITH [INSERT CONSULTANT]
IN WITNESS WHEREOF, the parties hereto have executed the Agreement on
the date first herein above written.
RIVERSIDE COUNTY [INSERT CONSULTANT]
TRANSPORTATION COMMISSION
By:_____________________________ By:________________________
[INSERT NAME], Chairman Signature
________________________
Name
[NOT NEEDED IF APPROVED BY COMMISSION] ________________________
Title
By: ____________________________
Anne Mayer
Executive Director
APPROVED AS TO FORM: ATTEST:
By: _____________________________ By: ________________________
Best Best & Krieger LLP Its: Secretary
General Counsel
109
A-1
17336.02100\8354633.2
EXHIBIT "A"
SCOPE OF SERVICES
On-Call and As-Needed [INSERT DESCRIPTION OF SERVICES] Services
Such [INSERT DESCRIPTION OF SERVICES] services may include, but are not limited
to, the following work activities:
[INSERT SERVICES]
110
B
17336.02100\8354633.2
EXHIBIT "B"
COMPENSATION
[INSERT]
111
C
17336.02100\8354633.2
EXHIBIT "C"
SAMPLE TASK ORDER FORM
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
TASK ORDER
Task Order No. _______
Contract: [INSERT NAME OF CONTRACT]
Consultant: [INSERT NAME OF CONSULTANT]
The Consultant is hereby authorized to perform the following work subject to the
provisions of the Contract identified above:
List any attachments: (Please provide if any.)
Dollar Amount of Task Order: Not to exceed $_____,_____.00
Completion Date: _____________, 20___
The undersigned consultant hereby agrees that it will provide all equipment, furnish al l
materials, except as may be otherwise noted above, and perform all services for the
work above specified in accordance with the Contract identified above and will accept
as full payment therefore the amount shown above.
Riverside County Transportation Commission Consultant
Dated: _________________ Dated: _________________
By: ________________________ By: ____________________
112
AGENDA ITEM 13
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Martha Durbin, Staff Analyst
Josefina Clemente, Transit Manager
THROUGH: Robert Yates, Multimodal Services Director
SUBJECT: Riverside Transit Agency’s Fiscal Year 2014/15 Short Range Transit Plan
Amendment
STAFF RECOMMENDATION:
This item is for the Committee to:
1) Approve modification to Riverside Transit Agency’s (RTA) FY 2014/15 capital
improvement program to reflect additional funding of $4,125,000 in Congestion
Mitigation and Air Quality (CMAQ) and $911,880 in FY 2012/13 Proposition 1B California
Transit Security Grant Program (CTSGP) funds;
2) Allocate $998,101 in additional State Transit Assistance (STA) funds to provide capital
matching funds for the CMAQ funds awarded to RTA for its Intelligent Information
System (ITS) project;
3) Reallocate $1,163,866 of Local Transportation Fund (LTF) funds from the ITS project to
the Expansion Heavy Duty Revenue Vehicles project;
4) Approve RTA’s FY 2014/15 Short Range Transit Plan (SRTP) Amendment No. 1 to reflect
the changes above, subject to approval by RTA’s board of directors; and
5) Forward to the Commission for final action.
BACKGROUND INFORMATION:
At its July 2014 meeting, the Commission approved and adopted the FY 2014/15 operating and
capital funding allocations for Riverside County based on the FY 2014/15 SRTPs prepared by
each transit operator. Since that approval, a number of capital funding changes occurred that
require modification to RTA’s approved SRTP Table 4 capital budget.
RTA’s Capital Assistance
In January 2014, RTA received a grant award totaling $4,125,000 in CMAQ federal funds for its
ITS project under the Commission’s Multi-funding Call for Projects. The ITS capital award will
fund the development and implementation of RTA’s next generation ITS. The project’s goal is
to provide RTA with the tools for improved fleet management that will promote efficiency of
RTA operations, enhance service planning and evaluation functions, and provide real-time
vehicle location and departure information to the public, thereby increasing ridership within
Agenda Item 13 113
the system. Staff’s recommendation is to reflect the awarded CMAQ funding of $4,125,000 in
the amended SRTP and allocate $998,101 of STA funds as local match for the ITS project.
Due to the CMAQ award, RTA requested the reallocation of approved LTF funds of $1,163,866
from the ITS project back to its expansion project for heavy duty revenue vehicles. RTA
originally programmed funds from the Expansion Heavy Duty Revenue Vehicles project to the
ITS project in the FY 2013/14 SRTP as a precautionary measure as there was no guarantee at
that time of a CMAQ award.
Additionally, RTA was awarded a total of $911,880 from the FY 2012/13 Proposition 1B CTSGP
through the state of California’s Office of Emergency Services for RTA’s Operations and Facilities
Security Improvements project. The funds were received by RTA in June of this year; therefore,
it is recommended the funds be reflected in the FY 2014/15 SRTP due to projected
expenditures in this fiscal year. RTA will utilize these funds for necessary and/or desired
security and safety improvements that include but are not limited to its facilities/infrastructure
at its operating sites, its revenue and non-revenue vehicles that support bus transit service
operations, and its transit centers/bus stops.
Modification requests for RTA’s FY 2014/15 SRTP are as follows:
• Reflect $4,125,000 in CMAQ funding for RTA’s ITS project;
• Allocate $998,101 of STA funding to provide the local match funds for the ITS project;
• Reallocate $1,163,866 of LTF funds from the ITS project to the Expansion Heavy Duty
Revenue Vehicles project; and
• Reflect $911,880 in CTSGP funds for the Operations and Facilities Security
Improvements project.
Financial Impact
Staff reviewed RTA’s revised plan and recommends approval of the capital funding
modifications and related amendment to the FY 2014/15 SRTP. Staff also recommends this
approval be conditional until such time the full RTA Board of Directors approves the
amendment. RTA’s Budget and Finance Committee will be meeting on the same day the
Commission meets on September 10. Full approval by the RTA Board of Directors is then
expected to take place at its September 25 meeting.
Since the federal CMAQ and state CTSGP funds are directly allocated to RTA and the LTF
reallocation is a movement of funds within FY 2014/15 projects, the only financial impact to the
Commission is the allocation of $998,101 of additional STA funds. There are sufficient Western
County STA funds allotted in the FY 2014/15 budget to cover the additional STA matching funds
for the ITS project.
The attachment shows a comparison of the original and modified FY 2014/15 SRTP Table 4,
detailing changes and adjustments in funding sources for RTA.
Agenda Item 13 114
Financial Information
In Fiscal Year Budget: Yes Year: FY 2014/15 Amount: $998,101
Source of Funds: STA Western County Budget Adjustment: No
GL/Project Accounting No.: 002201 86102 241 62 86102
Fiscal Procedures Approved: Date: 08/12/2014
Attachment: RTA FY 2014/15 Capital Assistance by Funding Source
Agenda Item 13 115
Riverside Transit Agency
FY 2014/15 SRTP - Table 4 Amendment #1
Capital Assistance by Funding Source
Table 1a. Currently Approved Capital Funding Plan
Project Description
Capital
Project
Number
Total Amount of
Funds LTF STA
Prop 1B
CTSGP
Section 5307 - Riv-
San Bernardino
Section 5307 -
Temecula/
Murrieta
Section 5307 -
Hemet/San
Jacinto CMAQ
Section 5339
Bus & Bus
Facilities
Replacement Revenue Vehicles - (12) COFR FY15-1 2,438,640 365,796 2,072,844
Replacement Revenue Vehicles - (26) DAR FY15-2 1,886,870 283,030 1,603,840
Expansion Revenue Vehicles - (10) DAR FY15-3 839,950 125,993 713,957
Replace Support Vehicles/Trucks - (19)FY15-4 735,480 147,096 588,384
Fareboxes - DO & CO FY15-5 3,396,600 679,320 2,717,280
Associated Transit Improvements FY15-6 150,000 30,000 80,000 40,000
Capitalized Tire Lease FY15-7 302,099 60,420 241,679
Maintenance/Support Equipment FY15-8 98,815 19,763 79,052
Facility Maintenance FY15-9 332,618 66,524 266,094
Information Systems FY15-10 467,200 93,440 373,760
Bus & Bus Facilities Projects (incl Rte 1 Ltd Infrastructure)FY15-11 1,975,203 395,041 1,580,162
Expansion Revenue Vehicles-(14) DO Heavy Duty-Rt 1
LTD FY15-12 8,050,000 2,012,500 6,037,500
Expansion Heavy Duty Revenue Vehicles -TDA Roll
Forward FY15-13 12,518,826 9,343,192 3,175,634
Information Systems - ITS (SRTP 13/14) -TDA Roll Forward 1,163,866 1,163,866
Total: Capital $34,356,167 $12,519,558 $5,442,057 $0 $5,674,931 $989,115 $2,112,844 $6,037,500 $1,580,162
Table 1b. Modified Capital Funding Plan
Project Description
Capital
Project
Number
Total Amount of
Funds LTF STA
Prop 1B
CTSGP
Section 5307 - Riv-
San Bernardino
Section 5307 -
Temecula/
Murrieta
Section 5307 -
Hemet/San
Jacinto CMAQ
Section 5339
Bus & Bus
Facilities
Replacement Revenue Vehicles - (12) COFR FY15-1 2,438,640 365,796 2,072,844
Replacement Revenue Vehicles - (26) DAR FY15-2 1,886,870 283,030 1,603,840
Expansion Revenue Vehicles - (10) DAR FY15-3 839,950 125,993 713,957
Replace Support Vehicles/Trucks - (19)FY15-4 735,480 147,096 588,384
Fareboxes - DO & CO FY15-5 3,396,600 679,320 2,717,280
Associated Transit Improvements FY15-6 150,000 30,000 80,000 40,000
Capitalized Tire Lease FY15-7 302,099 60,420 241,679
Maintenance/Support Equipment FY15-8 98,815 19,763 79,052
Facility Maintenance FY15-9 332,618 66,524 266,094
Information Systems FY15-10 467,200 93,440 373,760
Bus & Bus Facilities Projects (incl Rte 1 Ltd Infrastructure)FY15-11 1,975,203 395,041 1,580,162
Expansion Revenue Vehicles-(14) DO Heavy Duty-Rt 1
LTD FY15-12 8,050,000 2,012,500 6,037,500
Expansion Heavy Duty Revenue Vehicles -TDA Roll
Forward FY15-13 12,518,826 9,343,192 3,175,634
Information Systems - ITS (SRTP 13/14) -TDA Roll Forward - -
NEW Expansion Heavy Duty Revenue Vehicles 1,163,866 1,163,866
NEW Intelligent Information System - ITS 5,123,101 998,101 4,125,000 NEW Operations and Facilities Security
Improvements (FY 12/13 Prop 1B)911,880 911,880
Total: Capital $40,391,148 $12,519,558 $6,440,158 $911,880 $5,674,931 $989,115 $2,112,844 $10,162,500 $1,580,162
DIFFERENCE BETWEEN CURRENTLY
APPROVED & MODIFIED CAPITAL PLAN $6,034,981 $0 $998,101 $911,880 $0 $0 $0 $4,125,000 $0
Table 1 - Capital Assistance
116
Riverside Transit Agency’s
Fiscal Year 2014/15
Short Range Transit Plan Amendment
Budget and Implementation Committee
August 25, 2014
Modification Requirement
2
SRTP
Amendment•Capital Funding Changes
•Capital Project Changes
BUDGET PROCESS
3
Funding Adjustments
ITS Project: CMAQ $4,125,000 and STA $998,101
Expansion Heavy Duty Revenue Vehicles: LTF $1,163,866
Operations and Facilities Security Improvements: CTSGP $911,880
Staff Recommendation
Forward to the Commission for final action.
Approve RTA’s FY 2014/15 SRTP Amendment No. 1 to reflect the changes above,
subject to approval by RTA’s board of directors; and
Reallocate $1,163,866 LTF from the ITS project to the Expansion Heavy Duty Revenue
Vehicles project;
Allocate $998,101 in additional STA funds to provide capital matching funds for the
CMAQ funds awarded to RTA for its ITS project;
Approve modification to RTA’s FY 2014/15 capital improvement program to reflect
additional funding of $4,125,000 in CMAQ and $911,880 in FY 2012/13 Prop 1B
CTSGP funds;
AGENDA ITEM 14
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Martha Durbin, Staff Analyst
Josefina Clemente, Transit Manager
THROUGH: Robert Yates, Multimodal Services Director
SUBJECT: Citizens’ Advisory Committee/Social Services Transportation Advisory
Committee Membership Nominations
STAFF RECOMMENDATION:
This item is for the Committee to:
1) Nominate 10 appointments to the Citizens’ Advisory Committee/Social Services
Transportation Advisory Committee (CAC/SSTAC) effective September 1, 2014; and
2) Forward to the Commission for final action.
BACKGROUND INFORMATION:
The Transportation Development Act (TDA) provides direction for administering both Local
Transportation Fund (LTF) and State Transit Assistance (STA) funds, which are used to support
operational and capital expenditures for public transit. Section 99238 of the TDA regulations
requires the Commission to have a CAC/SSTAC as part of the oversight process in administering
the TDA funds. The TDA regulations further require that the membership must contain the
following categorical areas:
1) One representative of a potential transit user 60 years of age and older;
2) One representative of a potential transit user who is disabled;
3) Two representatives of the social service providers for seniors;
4) Two representatives of the social service providers for the disabled, including one
representative of a social service transportation provider, if one exists;
5) One representative of a social service provider for persons of limited means; and
6) Two representatives of a Consolidated Transportation Service Agency(s) designated as
such pursuant to subdivision (a) of Section 15975 of the Government Code, including
one representative from an operator, if one exists.
As stated above, candidates are to be recruited from a broad spectrum of social service
providers and the general public to represent older adults, persons with disabilities, and
persons of limited means. Appointments are for an initial one-year term and some will be
extended in the future to ensure continuity of service for the Committee. The adopted bylaws
for the CAC/SSTAC state that membership can consist of up to fifteen members appointed by
the Commission, in the manner provided by the Commission in accordance with Section 99238.
Agenda Item 14 117
Committee members then shall serve at the will and pleasure of the Commission and without
compensation.
DISCUSSION:
The memberships of the previous RCTC CAC/SSTAC members expired on June 30, 2014. In
recent years, attendance has been irregular and meetings often failed to reach a quorum. In
order to fill the positions, staff asked Commissioners for input, advertised for applications, and
conducted individualized outreach to social service providers.
It is important the Commission have access to community feedback both to comply with new
Title VI Civil Rights regulation and with state TDA statues. As such, citizen appointments made
to the CAC/SSTAC by Commissioners are critical to the success of the Commission and its charge
to oversee transit services in Riverside County. While two of the ten CAC positions are filled by
Riverside Transit Agency and Sunline Transit Agency, it is important to have actual citizen
participation especially from those who serve seniors and persons with disabilities. The
CAC/SSTAC will open a dialogue between citizen appointee representatives and the public
transit and specialized transit programs of Riverside County around matters of mutual concern.
Therefore, the Riverside County transit operators and specialized transit providers will be
invited to attend and participate in the CAC/SSTAC meetings as well.
The CAC/SSTAC serves the Commission by participating in the transit needs hearing and
reviewing the Short Range Transit Plans developed by public transit operators as part of the
Commission’s annual budget development process. In moving forward, staff hopes to utilize
the Committee not only to receive input but also to provide information to social service
providers on upcoming grant opportunities and changes in the law that would affect the
mission of various non-profit agencies. With effective two-way communication, the
Commission will be able to work closely with social service agencies to ensure efficient delivery
of specialized transit services to impacted communities.
Staff identified the individuals on the attachment for nomination as citizen representatives to
the Committee. Each represents the constituencies identified in state law and reside in a
number of communities throughout the county in order to provide a perspective from a wide
geographic area.
Attachment: CAC/SSTAC Representative and Categorical Membership List
Agenda Item 14 118
Riverside County Transportation Commission
Name / Area Represented Categorical Membership Per TDA Qualifications
1. Mary Venerable / Perris Potential transit user 60 years of age and
older
Federal Retiree and Lake Elsinore
Senior Center Representative
2. Pamela Brown / Riverside Citizen representing potential transit
users who are disabled
City of Riverside Human Relations
Commission - Chair; former Headstart
program manager
3. Jack Marty / Banning Social service provider for seniors
Retirement Community Resident; VNA &
Hospice Of Southern California -
Hospice Volunteer
4. Richard Smith / Western Riverside
County and Coachella Valley Social service provider for seniors Independent Living Partnership
Executive Director
5. Linda Samulski / Coachella Valley Social service transportation provider for
the disabled
Service Coordinator for the Guide Dogs
of the Desert and Desert Blind and
Handicapped Association.Transit User
who is Bi-lingual.
6. Priscilla Ochoa / Western Riverside
County Social service provider for the disabled Blindness Support Services Travel
Trainer.
7. Laura Hernandez /
Southwest Riverside County
Social service provider for persons of
limited means
Participates in the ADA RTA Committee
and T-Now Southwest. Transit User who
is Bi-lingual.
8. Miguel Duran / Western Riverside
County and Coachella Valley
Social service provider for persons of
limited means
2-1-1 Riverside Connect / VetLink
Program Coordinator
9. Riverside Transit Agency Staff /
Western Riverside County
Consolidated Transportation Service
Agency
Consolidated Transportation Service
Agency for Western Riverside County
10. SunLine Transit Agency Staff /
Coachella Valley
Consolidated Transportation Service
Agency
Consolidated Transportation Service
Agency for Coachella Valley
Categorical Nominations to the Citizens Advisory Committee / Social Services Transportation Advisory Council
119
Citizens Advisory Committee/Social Services Transportation Advisory Committee Membership Nominations
Budget and Implementation Committee
August 25, 2014
TDA Regulation:
Section 99238
Requires the Commission to appoint the CAC/SSTAC
members.
Requires that membership contain the following categorical
areas:
•One representative of a potential transit user 60 years of age and older;
•One representative of a potential transit user who is disabled;
•Two representatives of the social service providers for seniors;
•Two representatives of the social service providers for the disabled, including
one representative of a social service transportation provider, if one exists;
•One representative of a social service provider for persons of limited means; and
•Two representatives of a Consolidated Transportation Service Agency(s)
designated as such pursuant to subdivision (a) of Section 15975 of the
Government Code, including one representative from an operator, if one exists.
Recommended Membership
Name / Area Represented Categorical Membership Per TDA Qualifications
1. Mary Venerable / Perris Potential transit user 60 years of age
and older
Federal Retiree and Lake Elsinore
Senior Center Representative
2. Pamela Brown / Riverside Citizen representing potential transit
users who are disabled
City of Riverside Human Relations
Commission - Chair; former Headstart
program manager
3. Jack Marty / Banning Social service provider for seniors
Retirement Community Resident; VNA &
Hospice Of Southern California -
Hospice Volunteer
4. Richard Smith / Western Riverside
County and Coachella Valley Social service provider for seniors Independent Living Partnership -
Executive Director
5. Linda Samulski / Coachella Valley Social service transportation provider for
the disabled
Service Coordinator for the Guide Dogs
of the Desert and Desert Blind and
Handicapped Association.Transit User
who is Bi-lingual.
6. Priscilla Ochoa / Western Riverside
County Social service provider for the disabled Blindness Support Services Travel
Trainer
7. Laura Hernandez /
Southwest Riverside County
Social service provider for persons of
limited means
Participates in the ADA RTA Committee
and T-Now Southwest. Transit User who
is Bi-lingual.
8. Miguel Duran / Western Riverside
County and Coachella Valley
Social service provider for persons of
limited means
2-1-1 Riverside Connect / VetLink
Program Coordinator
9. Riverside Transit Agency Staff /
Western Riverside County
Consolidated Transportation Service
Agency
Consolidated Transportation Service
Agency for Western Riverside County
10. SunLine Transit Agency Staff /
Coachella Valley
Consolidated Transportation Service
Agency
Consolidated Transportation Service
Agency for Coachella Valley
Staff Recommendation
Forward to the Commission for final action.
Nominate 10 appointments to the Citizens Advisory
Committee/Social Services Transportation Advisory
Committee effective September 1, 2014; and
AGENDA ITEM 15
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Tanya Love, Goods Movement Manager
THROUGH: John Standiford, Deputy Executive Director
SUBJECT: Clay Street Grade Separation
STAFF RECOMMENDATION:
This item is for the Committee to
1) Deobligate $2,432,000 in 2009 Measure A Western County Economic Development
Funds previously allocated to the County of Riverside (County) for the Interstate
215/Van Buren Interchange project;
2) Reprogram $2,432,000 in 2009 Measure A Western County Economic Development
Funds to the County for the Clay Street grade separation project;
3) Approve Agreement No. 08-31-124-00, Amendment No. 1 to Agreement
No. 08-31-124-00, with the County for the I-215/Van Buren Interchange project and the
Clay Street grade separation project;
4) Deobligate $1,722,000 in Congestion Mitigation Air Quality (CMAQ) funds allocated to
the city of Banning (Banning) for the Sunset Avenue grade separation project;
5) Allocate $1,722,000 in CMAQ funding to the County in support of the Clay Street grade
separation project;
6) Approve an increase of $2,432,000 in FY 2014/15 budgeted 2009 Measure A Western
County Economic Development expenditures; and
7) Forward to the Commission for final action.
BACKGROUND INFORMATION:
On behalf of the city of Jurupa Valley, the County is serving as the lead agency to construct a
grade separation at Clay Street located within the city of Jurupa Valley at Union Pacific Railroad
between Van Buren Boulevard and Limonite Avenue. Once constructed with a projected
completion date of December 2015, the $35,899,000 project will eliminate conflicts between
vehicles and trains providing efficient, reliable, and uninterrupted freight and vehicular
movement.
The Clay Street grade separation project was one of 12 Trade Corridor Improvement Fund
(TCIF) projects – located throughout Riverside County – receiving $150 million in Proposition 1B
funding from the California Transportation Commission (CTC). In order to meet the CTC
requirement that all TCIF projects must start construction no later than December 2013, the
Commission allocated $1,199,246 in CMAQ funding to cover a shortfall in the construction
Agenda Item 15
120
phase for the Clay Street grade separation project at its December 2013 meeting. At the time
of allocation, Commission staff was aware of a funding shortfall remaining in the right of way
and utility phase, but the actual dollar amount was unknown. At this time, County staff
identified that $4,154,000 in additional funds is required due to higher than anticipated right of
way and utility costs.
To cover the funding shortfall, staff is requesting that $1,722,000 in CMAQ funding originally
allocated for the Sunset Avenue grade separation project, located in Banning, be shifted to the
Clay Street grade separation project. The County is also serving as the lead agency for the
Sunset Avenue project and, in April 2014, identified as part of the CTC contract award process
that there was $1,722,000 in unused CMAQ funds available. The Sunset Avenue grade
separation project is under construction and is expected to be complete in October 2015. In
addition to the CMAQ funding, staff is requesting that $2,432,000 in 2009 Measure A Western
County Economic Development Funds allocated to the County in June 2011 in support of the
I-215/Van Buren Interchange project be reprogrammed to support the Clay Street grade
separation project. If approved, the $1,722,000 in CMAQ funds and the $2,432,000 in 2009
Measure A Western County Economic Development funds will cover the remaining $4,154,000
shortfall on the Clay Street grade separation project.
Regarding the CMAQ funding, there is no financial impact to the Commission’s budget as
federal CMAQ funds do not flow through the Commission.
Financial Information
In Fiscal Year Budget: No Year: FY 2014/15 Amount: $2,432,000
Source of Funds: 2009 Measure A Western County
Economic Development Fund Budget Adjustment: Yes
GL/Project Accounting No.: XX4008 814XX 268 31 814XX
Fiscal Procedures Approved: Date: 08/14/2014
Agenda Item 15
121
AGENDA ITEM 16
RIVERSIDE COUNTY TRANSPORTATION COMMISSION
DATE: August 25, 2014
TO: Budget and Implementation Committee
FROM: Aaron Hake, Government Relations Manager
THROUGH: John Standiford, Deputy Executive Director
SUBJECT: State and Federal Legislative Update
STAFF RECOMMENDATION:
This item is for the Committee to:
1) Receive and file an update on the state and federal legislation; and
2) Forward to the Commission for final action.
BACKGROUND INFORMATION:
Legislative activity in Sacramento and Washington, D.C. has been busy on the transportation
front despite month-long recesses in July and August by the Legislature and Congress
respectively. The approaching end of the legislative cycle has put several issues on the front
burner.
The Legislature adjourns at the end of August and the Governor will sign bills in September.
Congress will return after Labor Day for a few weeks before adjourning in October for the
elections, followed by a lame duck session in November and December.
State
RCTC Legislation Reaches Governor Brown’s Desk
Upon returning from July recess, both of the Commission’s sponsored bills, AB 1721 (Linder)
and SB 953 (Roth), cleared their final votes in the Legislature and were sent to the Governor’s
desk. On Friday August 15, Governor Brown signed SB 953 into law. This bill provides the
Commission and SANBAG with parking enforcement authority at the rail stations these agencies
own and operate. AB 1721 provides tolling agencies such as the Commission with the authority
to charge discounted rates to green or white-stickered low emissions vehicles, rather than
being required to allow them to travel free of charge.
Each bill received bi-partisan support throughout the year. Commission staff and advocate
Mark Watts will be communicating with the Governor’s office to seek his signature on AB 1721.
Agenda Item 16
122
Comprehensive Tolling Legislation Falters in Committee
SB 983 (Hernandez) is a bill that emerged mid-session, sponsored by LA Metro. The bill re-
opens the state approval process for high occupancy toll (HOT) lanes the Commission’s I-15
Express Lanes went through in 2008. The pilot program for HOT lanes expired at the beginning
of this year, and only provided for a limited number of HOT lane projects in the state. Projects
were subject to the review of the California Transportation Commission and a public hearing
process that most transportation policy watchers agree worked well. The original legislation
also required ratification of HOT lane projects by the Legislature. SB 983 would remove the
sunset date on the HOT lane program and keep the Legislature out of the approval process.
Language in SB 983 would protect the financial obligations of regional transportation agencies
such as the Commission and provide a rational, predictable framework that agencies could use
to move projects forward.
The Commission’s legislative platform supports more innovation in transportation policy,
protecting transportation revenues, local control of facilities that are the financial responsibility
of local agencies, and finding solutions to the funding gap for our state’s infrastructure. All of
these goals are achieved by SB 983.
Despite broad consensus from transportation agencies in Los Angeles, San Diego,
San Bernardino, Riverside, and the Bay Area, and close alignment with the Brown
Administration’s California Transportation Infrastructure Priorities, for unknown reasons the bill
was held on the suspense file of the Assembly Appropriations Committee by Chairman Mike
Gatto. Commission staff worked closely with LA Metro to provide amendments to the bill that
would improve project delivery of HOT lanes and provide additional regional flexibilities.
Commission staff will continue working with LA Metro, the Administration, and other
stakeholders to resurrect this effort in the next session of the Legislature.
Federal
Highway Trust Fund Patched Through May 2015
Just before Congress adjourned for the summer, agreement was reached on a short-term stop-
gap measure to keep the Highway Trust Fund (HTF) solvent through May 2015. The HTF was
scheduled to dip below reserve levels needed to maintain cash flow on August 1, threatening a
slow-down or rationing of payments to states for transportation projects. The result would
have been project stoppages and costly delays during the peak construction season. The House
and Senate identified several non-transportation revenue sources to infuse $11 billion into the
HTF after a series of back-and-forth proposals. Senators Tom Carper (D-DE) and Barbara Boxer
(D-CA) pushed for a shorter term measure that would fund the HTF through December 31,
2014, to keep the pressure on Congress to produce a longer-term, reliable funding plan for
surface transportation. While many in the transportation community welcomed this effort by
Senator Boxer and Senator Carper to force Congress to address the glaring lack of stability in
our nation’s transportation funding, industry leaders did not want to risk an HTF shortfall in the
Agenda Item 16
123
immediate term if consensus could not be reached. Thus, the same predicament that faced
Congress this year will approach them next year, with many new members in the new session
following the 2014 elections.
RCTC Pursues Rail Grant for Coachella Valley-San Gorgonio Pass Rail Service
The Federal Railroad Administration (FRA) released a notice of funding availability in early July
for $19,827,500 in grants for passenger rail corridor investment plans. The solicitation fits the
needs of the Coachella Valley-San Gorgonio Pass rail study underway. Commission staff
decided to pursue this grant opportunity, seeking $3 million to complete the service
development plan and environmental work that would be needed before the project can go to
construction. Due to the recent policy change to provide a bus-rail split for Coachella Valley
Transit Development Act funds, a funding source is readily available to provide the 20 percent
matching funds required. The Commission has partnered with the Caltrans Division of Rail on
the application. Caltrans agreed to be the lead applicant for the funds to satisfy federal
eligibility requirements, however the Commission will continue to administer the study. The
California State Transportation Agency views Coachella Valley-San Gorgonio Pass rail service as
a key linkage to the state’s overall rail vision of connectivity to LOSSAN, Metrolink, and
eventually high-speed rail.
Commissioner Greg Pettis, Executive Director Anne Mayer, Rail Manager Sheldon Peterson, and
Government Relations Manager Aaron Hake met with key FRA staff and U.S. Department of
Transportation leadership to discuss the Commission’s forthcoming grant application. While in
Washington, D.C. the team met with key congressional offices along the proposed rail corridor
to secure support for the grant. The Commission’s message of high local financial commitment,
demonstrated success on federal projects, and overall vision for an integrated Southern
California rail and transit network was favorably received.
The Commission is in need of letters of support from public and private stakeholders in the
region to submit with the grant application. Any Commissioners wishing to extend letter
requests to other bodies they sit on or organizations they are connected to in their
communities would be helpful. Letters of support can be coordinated through Aaron Hake at
ahake@rctc.org or (951) 787-7141.
Showcasing Commission Projects
During the summer recess periods for the Legislature and Congress when elected officials spend
time home in their districts, the Commission has taken the opportunity to update Riverside
County legislative offices on some of the Commission’s major construction and planned
projects.
In July, legislative staffers from Riverside, Orange and San Bernardino Counties were invited to
a special construction briefing on the SR-91 Corridor Improvement Project at the project
headquarters in Corona. The Commission, Caltrans, and Atkinson-Walsh Joint Venture provided
Agenda Item 16
124
these aides with up-to-date information on what their constituents can expect to experience
over the next several months on SR-91.
In August, Congressman Mark Takano and his Washington staff took a tour of the Perris Valley
Line construction along with Chair Marion Ashley and Vice Chair Daryl Busch. Commission staff
also provided a briefing on Perris Valley Line and Coachella Valley-San Gorgonio Pass Rail to a
joint meeting of San Bernardino and Riverside County legislative offices hosted by SANBAG.
Commission staff will continue to communicate closely with state and federal delegation offices
to ensure that they are informed with the many activities the Commission is undertaking, and
the policy issues that impact the Commission’s ability to deliver projects.
Attachment: 2013-14 Bill Matrix
Agenda Item 16
125
RIVERSIDE COUNTY TRANSPORTATION COMMISSION - POSITIONS ON STATE AND FEDERAL LEGISLATION – August 2014
Legislation/
Author
Description Bill
Status
Position Date of Board
Adoption
SB 1228
(Hueso)
This bill continues the existence of the TCIF indefinitely in order to receive funds from
non-Proposition 1B sources, and governs the distribution of non-Proposition 1B funds.
From APPR. committee: Do pass
as amended. (Ayes 17. Noes 0.)
(August 14, 2014).
SUPPORT July 9, 2014
SB 1390
(Correa)
This bill would create a new conservancy program within the State Coastal
Conservancy for the purpose of acquiring lands within a half-mile of the Santa Ana
River riverbed in order to preserve open space, provide recreational opportunities,
and enhance the overall condition of the Santa Ana River. Supporters of the bill intend
for the conservancy program to be a vehicle to accept funding from grants and other
sources of revenue to protect, promote, and restore the Santa Ana River for the
benefit of the residents of the Inland Empire and Orange County. Several conservancy
programs exist throughout the state, including the Coachella Valley Mountains
Conservancy. No state funding is provided by SB 1390.
From APPR. committee: Do pass.
(Ayes 13. Noes 4.) (August 14,
2014).
SUPPORT IN
CONCEPT
July 9, 2014
AB 2036
(Mansoor)
Existing law authorizes certain toll facilities on public highways. This bill would
authorize a toll facility to be initially implemented on a public highway within the
boundaries of the County of Orange only if the toll facility is approved by a 2/3 vote of
the electorate in the county, and would define “public highway” and “toll facility” for
these purposes.
In committee: Set, second
hearing. Hearing canceled at the
request of author.
(April 28, 2014).
OPPOSE UNLESS
AMENDED
April 9, 2014
SB 1451
(Hill & Roth)
An act to amend and repeal Section 21177 of the Public Resources Code, relating to
environmental quality. This bill would require the alleged grounds for noncompliance
shall have been presented to a public agency prior to the close of the public hearing
on the project if the grounds for noncompliance were not known and could not have
been known with the exercise of reasonable diligence during the public comment
period or if no public comment period was provided by CEQA. The bill would limit the
standing of a person objecting to the project prior to the close of the public hearing on
the project before the filing of notice of determination to an action or proceeding
challenging a project for which no public comment period was provided by CEQA.
Set, first hearing. Hearing
canceled at the request of
author. (May 6, 2014).
SUPPORT April 9, 2014
AB 2651
(Linder)
This bill would prohibit weight fee revenue from being transferred from the State
Highway Account to the Transportation Debt Service Fund or to the Transportation
Bond Direct Payment Account, and from being used to pay the debt service on
transportation general obligation bonds.
In committee: Set, first hearing.
Hearing canceled at the request
of author. (April 21, 2014).
SUPPORT April 9, 2014
126
Legislation/
Author
Description Bill
Status
Position Date of Board
Adoption
HR 29
(Gomez)
This nonbinding resolution of the State Assembly expresses opposition to “outsourcing
of public services and assets, which harms transparency, accountability, shared
prosperity, and competition.” The resolution also supports, “processes that give
public service workers the opportunity to develop their own plan on how to deliver
cost-effective, high-quality services.” The resolution references the Taxpayer
Empowerment Agenda (TEA), a proposal by a group called “In the Public Interest”,
which is a project of a national coalition known as the Partnership for Working
Families.
Read. Amended. Adopted.
(Ayes 44. Noes 22. Page 4332.)
(April 3, 2014).
OPPOSE April 9, 2014
AB 2728
(Perea)
This bill would prohibit weight fee revenue from being transferred from the State
Highway Account to the Transportation Debt Service Fund or to the Transportation
Bond Direct Payment Account for the purpose of payment of the debt service on
transportation general obligation bonds, and would also prohibit loans of weight fee
revenue to the General Fund.
In committee: Set, second
hearing. Held under submission.
(May 23, 2014).
SUPPORT April 9, 2014
AB 515
(Dickinson)
This bill pertains to CEQA reform. AB 515 proposes to require the courts to specify
actions, which must be taken by an agency to remedy CEQA violations and a
timeframe within which those violations must be taken.
In committee: Set, second
hearing. Hearing canceled at the
request of author.
(June 15, 2014).
SEEK
AMENDMENTS
April 9, 2014
AB 2197
(Mullin)
This bill would require that temporary license plate system be developed by the
Department of Motor Vehicles (DMV). AB 2197 would require this new system to be
operative by July 1, 2015. This bill would ensure that all lawfully purchased vehicles
leave the dealership with some form of identification that can be read from the
roadway by law enforcement.
In committee: Set, second
hearing. Held under submission.
(May 23, 2014).
SUPPORT April 9, 2014
SB 785 (Wolk) This bill consolidates a number of existing statutes authorizing local governments to
use design-build for certain types of projects. Design-build for public transit projects is
included in the consolidation.
Read second time and amended.
Ordered to second reading.
(Aug. 13, 2014)
SUPPORT IF
AMENDED
April 9, 2014
SB 969
(DeSaulnier)
The bill would require the agency administering a megaproject to establish a peer
review group and to take specified actions to manage the risks associated with a
megaproject including establishing a comprehensive risk management plan, and
regularly reassessing its reserves for potential claims and unknown risks. Because this
bill would require local agencies to perform additional duties, the bill would impose a
state-mandated local program.
Set, first hearing. Referred to
APPR. Suspense file.
(July 2, 2014)
OPPOSE UNLESS
AMENDED
April 9, 2014
SB 990 (Vidak) This bill would require that 5% of Local Transportation Funds (LTF) and funds from the
Regional Transportation Improvement Program (RTIP) be set-aside by agencies such as
the Commission for disadvantaged small communities for congestion relief and safety
needs.
Set, second hearing. Failed
passage in committee.
(Ayes 3. Noes 8. Page 3312.)
Reconsideration granted.
(April 29, 2014).
OPPOSE April 9, 2014
AB 1721
(Linder)
Today, state law prohibits tolling of zero-emission vehicles in designated high-
occupancy toll (HOT) lanes. This bill would exclude from the above-described
exemption a toll imposed for passage in HOT lanes designated for State Highway
Route 15 in Riverside County.
Senate amendments concurred
in. To Engrossing and Enrolling.
(August 14, 2014).
SPONSOR January 8, 2014
127
Legislation/
Author
Description Bill
Status
Position Date of Board
Adoption
SB 953 (Roth) This bill will provide parking enforcement authority to RCTC for the Metrolink
commuter rail stations we own and operate for the residents of Riverside County.
Approved by Governor.
Chaptered by Secretary of State.
Chapter 192, Statutes of 2014.
(August 15, 2014).
SPONSOR January 8, 2014
AB 14
(Lowenthal)
Formalizes creation of a State Freight Advisory Council and commits the state to
authoring a State Freight Plan every 5 years, pursuant to MAP-21.
Approved by the Governor.
Chaptered by Secretary of State –
Chapter 223, Statutes of 2013.
(Sept. 6, 2013).
SUPPORT April 13, 2013
AB 179
(Boganegra)
Previous version reduced the amount of time transportation agencies can retain
personally identifiable customer information for electronically-collected highway tolls
and transit fares, from 4.5 years to six months. Amendments extend the time period
back to 4.5 years, removing a conflict with the statute of limitations during which
customers can challenge tolls and fare charges, which is up to 4 years. The bill also
enacts new privacy provisions for electronic transit fare collection. Unknown impacts
exist for transit operators RTA, SunLine and Metrolink for future implementation of
electronic fare systems.
Approved by the Governor.
Chaptered by Secretary of State –
Chapter 375, Statutes of 2013.
(Sept. 27, 2013).
NEUTRAL June 12, 2013
AB 266
(Blumenfield)
Extends by an additional 10 years a pilot program previously opposed by RCTC. Ultra-
low emission vehicles (mostly electric cars) are exempted from paying tolls on tolled
facilities, except for toll projects in L.A. County. This bill represents a state mandate
that cuts into local revenue for infrastructure that local governments are providing to
the state. This policy erodes the user-pay concept inherent in many areas of
transportation finance. This bill represents a current and future threat to the viability
of innovative infrastructure financing in California as low-emission vehicles become
more popular. The pilot program has only been in existence for less than one year.
Approved by the Governor.
Chaptered by Secretary of State –
Chapter 405, Statutes of 2013.
(Sept. 28, 2013).
OPPOSE April 13, 2013
AB 487 (Linder) Requires government employees participating in the DMV confidentiality program to
provide a workplace address so that parking, toll, and traffic violations can still be
enforced.
Died pursuant to Art. IV,
Sec. 10(c) of the Constitution.
(Jan. 31, 2014).
From committee: Filed with the
Chief Clerk pursuant to Joint Rule
56. (Feb. 3, 2014).
SUPPORT April 13, 2013
AB 574
(Lowenthal)
Formerly, this bill reformed the process by which cities and counties apply to the State
for relinquishment of state highways to local jurisdictions. The bill has been amended
in its entirety.
The bill now proposes policy to guide the expenditure of the state’s cap-and-trade
program, which was authorized by AB 32 (Pavley, 2006) and is administered by the
California Air Resources Board (CARB). The bill provides for regional control of the
expenditure of cap-and-trade funds. The Commission, along with SCAG and other
transportation commissions in Southern California have requested amendments that
would direct cap-and-trade funds to directly to transportation commissions rather
than Metropolitan Planning Organizations (MPO’s)
Died pursuant to Art. IV,
Sec. 10(c) of the Constitution.
(Jan. 31, 2014).
From committee: Filed with the
Chief Clerk pursuant to Joint Rule
56. (Feb. 3, 2014).
SUPPORT IF
AMENDED
June 12, 2013
128
Legislation/
Author
Description Bill
Status
Position Date of Board
Adoption
AB 1081
(Medina)
Requires goods movement infrastructure projects and financing options from the
private sector to be included in the Governor’s annually submitted 5-year
infrastructure plan and international trade & investment strategy.
In committee: Held under
submission.
(August 30, 2013).
SUPPORT June 12, 2013
SB 337
(Emmerson)
Relinquishes portions of SR-74 to the City of Hemet. The City of Hemet is the sponsor
of this bill. This bill builds on previous legislation that authorized relinquishment of
SR-74 to the Cities of Palm Desert, Perris, and Lake Elsinore.
Returned to Secretary of Senate
pursuant to Joint Rule 56.
(Feb. 3, 2014)
Hearing cancelled at request of
author. This bill’s language has
been incorporated into SB 788,
the Senate Transportation
Omnibus Bill.
SUPPORT April 13, 2013
SB 731
(Steinberg)
Enacts modest changes to CEQA, mostly relating to private development. Joint Rule 62(a) file notice
suspended. (Page 3247).
Set, First hearing. Hearing
cancelled at the request of
author. (Sept. 11, 2013).
MONITOR/
WORK WITH
AUTHOR
April 13, 2013
AB 37
(Perea)
This bill would allow would allow project applicants to require lead agencies to
prepare a record of proceedings concurrently with the preparation of CEQA
documents. This has the potential to accelerate future judicial proceedings by giving
both sides of a CEQA lawsuit the opportunity to prepare for court. AB 37 is supported
by business groups and is currently unopposed, awaiting a vote on the Assembly floor.
Read second time. Ordered to
third reading. (August 5, 2014)
SUPPORT June 12, 2013
AB 401
(Daly)
Authorizes the use of best value design-build for the I-405 widening project by OCTA.
The language of this bill is nearly identical to that of the Commission’s AB 2098
(Miller), which was approved in 2010. The project will add one general purpose lane
in each direction.
Approved by the Governor.
Chaptered by Secretary of State –
Chapter 586, Statutes of 2013.
(Oct. 5, 2013).
SUPPORT June 12, 2013
AB 543
(Campos)
This bill would require a lead agency to translate, as specified, certain notices required
by the act and a summary of any negative declaration, mitigated negative declaration,
or environmental impact report when a group of non-English-speaking people, as
defined, comprises at least 25% of the population within the lead agency’s jurisdiction
and the project is proposed to be located at or near an area where the group of non-
English-speaking people comprises at least 25% of the residents of that area. By
requiring a lead agency to translate these notices and documents, this bill would
impose a state-mandated local program.
In committee: Placed on APPR.
Suspense file. (August 14, 2014).
OPPOSE June 12, 2013
129
Legislation/
Author
Description Bill
Status
Position Date of Board
Adoption
AB 756
(Melendez)
Allows public works projects to be granted Leadership designation by the Governor for
the purposes of a 2011 law that provides expedited judicial review for CEQA
challenges.
The Commission seeks amendments that would clarify elgibility of regional
transportation agencies (such as the Commission) to utilize this fast-tracking for public
transit projects.
Note: the underlying 2011 law has recently been ruled unconstitutional.
Died pursuant to Art. IV, Sec.
10(c) of the Constitution.
(Jan. 31, 2014).
From committee: Filed with the
Chief Clerk pursuant to Joint Rule
56. (Feb. 3, 2014).
SUPPORT if
Amended
June 12, 2013
SB 778
(Committee on
Transportation
& Housing)
Senate “omnibus” bill of non-controversial items. This omnibus includes language
from SB 337 (Emmerson), which relinquishes SR-74 to the city of Hemet. Other
provisions of the bill include non-substantive technical corrections to existing law and
deletion of obsolete provisions such as the 1984 Olympics special license plate
program.
Returned to Secretary of Senate
pursuant to Joint Rule 56.
(Feb. 3, 2014).
SUPPORT June 12, 2013
AB 493
(Daly)
This bill would authorize operators of toll facilities on federal-aid highways to fully
implement technologies or business practices that provide for the interoperability of
electronic toll collection programs on and after the date specified in MAP-21. The bill
would limit the information that may be disclosed through participation in an
interoperability program, as specified.
Approved by the Governor.
(Aug. 12, 2013).
Chaptered by Secretary of State –
Chapter 79, Statutes of 2013.
(Aug. 12, 2013).
SUPPORT June 12, 2013
130