Loading...
03 March 8, 2017 Commission• • • TIME/DATE: LOCATION: Rivenide County Transportation Commission MEETING AGENDA 9:30 a.m. /Wednesday, March 8, 2017 BOARDROOM County of Riverside Administrative Center 4080 Lemon Street, First Floor, Riverside 8Jtt COMMISSIONERS _. Chair -John F. Tavaglione Vice Chair -Dana Reed Second Vice Chair -Chuck Washington Kevin Jeffries, County of Riverside John F. Tavaglione, County of Riverside Chuck Washington, County of Riverside To Be Appointed, County of Riverside Marion Ashley, County of Riverside Deborah Franklin/ Art Welch, City of Banning Nancy Carroll I Lloyd White, City of Beaumont Joseph DeConinck I Tim Wade, City of Blythe Jim Hyatt/ Jeff Hewitt, City of Calimesa Dawn Haggerty/ Jordan Ehrenkranz, City of Canyon Lake Greg Pettis I Shelley Kaplan, City of Cathedral City Steven Hernandez I To Be Appointed, City of Coachella Karen Spiegel/ Randy Fox, City of Corona Scott Matas I Russell Betts, City of Desert Hot Springs Adam Rush/ Clint Lori more, City of Eastvale Linda Krupa/ To Be Appointed, City of Hemet Dana Reed I To Be Appointed, City of Indian Wells Michael Wilson I Glenn Miller, City of Indio Brian Berkson/ Verne Lauritzen, City of Jurupa Valley Robert Radi I Kathleen Fitzpatrick, City of La Quinta Bob Magee I Natasha Johnson, City of Lake Elsinore Neil Winter/ John Denver, City of Menifee Victoria Baca I To Be Appointed, City of Moreno Valley Rick Gibbs I Jonathan Ingram, City of Murrieta Berwin Hanna/ Ted Hoffman, City of Norco Jan Harnik I Susan Marie Weber, City of Palm Desert Ginny Foat/ Geoffrey Kors, City of Palm Springs Michael M. Vargas I Rita Rogers, City of Perris Ted Weill/ Charles Townsend, City of Rancho Mirage Rusty Bailey I Andy Melendrez, City of Riverside Andrew Kotyuk I Scott Miller, City of San Jacinto Michael S. Naggar /To Be Appointed, City of Temecula Ben Benoit/ Timothy Walker, City of Wildomar John Bulinski, Director, Governor's Appointee Caltrans District 8 RECORDS Comments are welcomed by the Commission. If you wish to provide comments to the Commission, please complete and submit a Speaker Card to the Clerk of the Board. COMM-COMM-00067 Alexandra Rackerby From: Sent: To: Subject: Attachments: Importance: Alexandra Rackerby Thursday, March 02, 2017 10:31 AM Alexandra Rackerby RCTC March Commission Agenda -03.08.2017 Conflict of Interest Form.pdf; Conflict of Interest Memo.pdf High Good morning Commissioners: The March Agenda for the Commission meeting scheduled for Wednesday, March 8, 2017@ 9:30 a.m. is available. Please copy the link: http://www.rctc.org/ uploads/media items/riverside-co u nty-tra nspo rtation-com mission-ma rch-8-2017 .o rigi na I .pdf Also, attached for your review and information is the conflict of interest memo and form. Please let me know if you have any questions. Thank you. Respectfully, Allie Rackerby Records Technician Riverside COunlY Transportation Commission PO Box 12008, Aivelside, CA 92502-2208 4080 Lemon Street, 3111 Floor, Rivet'Side, CA 92501 {951) 787-7141 l rclc.org 1 Alexandra Rackerby From: Sent: To: Subject: Importance: Alexandra Rackerby Thursday, March 02, 2017 10:33 AM Alexandra Rackerby RCTC March Commission Agenda -03.08.2017 High Good morning Commission Alternates: The March Agenda for the Commission meeting scheduled for Wednesday, March 8, 2017@ 9:30 a.m. is available. Please copy the link: http://www. rctc.o rg/ uploads/media items/riverside-county-transportation-commission-ma rch-8-2017 .origi na I. pdf Respectfully, Allie Rackerby Recoros Technician Riverside County Transportation Commission PO Box 12008, Riverside, CA 92502-2208 4080 lemon S1reet, 3fll Floor, Riverside, CA 92501 {951) 787-7141 I rclc.org 1 Riverside County Transportation Commission TO: FROM: DATE: SUBJECT: Riverside County Transportation Commission Jennifer Harmon, Clerk of the Board March 1, 2017 Possible Conflicts of Interest -Riverside County Transportation Commission Agenda of March 8, 2017 The March 8, 2017 agenda of the Riverside County Transportation Commission includes items that may raise possible conflicts of interest. A Commissioner 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. 6L -Agreements for On-Call Property Maintenance and Repair Services Consultant(s): Consultant(s): Consultant(s): Consultant(s): Braughton Construction, Inc. Alison Vanden Bossche, Secretary 10722 Arrow Route, Suite 810 Rancho Cucamonga, CA 91730 Carry All Johnny Carrion, Owner P.O. Box 5451 Norco, CA 92860 DeAngelo Brothers, LLC T. Kevin Scrivner, General Manager 1459 South Cucamonga Avenue Ontario, CA 91761 Real Estate Consulting & Services, Inc. Jeffrey Coss, President 827 E. Civic Center Drive Santa Ana, CA 92704 RCTC Potential Conflicts of Interest March 1, 2017 Page 2 Agenda Item No. 6N -Amendments to Freeway Service Patrol Agreement Consu/tant(s): Consultant(s): Pepe's Towing, Inc. Manny Acosta, Secretary 14351 Veterans Way Moreno Valley, CA 92503 Steve's Towing Miguel Leyva, President 9529 8th Street Rancho Cucamonga, CA 91730 Agenda Item No. 6P -IE Commuter System Enhancements Consultant(s): Media Beet Inc. Michael Hemry, President 6809 Indiana Avenue, Suite 130 Riverside, CA 92506 Agenda Item No. 8-Agreement for Visual Identity and Website Design and Maintenance Services Consultant(s): Ce/tis Ventures, LLC Matt Raymond, Owner 811 N. Catalina Avenue, Suite 3022 Redondo Beach, CA 90277 RIVERSIDE COUNTY TRANSPORTATION COMMISSION  www.rctc.org    AGENDA*  *Actions may be taken on any item listed on the agenda    9:30 a.m.  Wednesday, March 8, 2017    BOARD ROOM  County of Riverside Administrative Center  4080 Lemon Street, First Floor, Riverside, CA    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, Government Code Section 54954.2, and the Federal  Transit Administration Title VI, please contact the Clerk of the Board at (951) 787‐7141 if special assistance is  needed to participate in a Commission meeting, including accessibility and translation services.  Assistance is  provided free of charge.  Notification of at least 48 hours prior to the meeting time will assist staff in assuring  reasonable arrangements can be made to provide assistance at the meeting.      1. CALL TO ORDER / ROLL CALL    2. PLEDGE OF ALLEGIANCE    3. PUBLIC COMMENTS – Each individual speaker is limited to speak three (3) continuous minutes or less.   The Commission may, either at the direction of the Chair or by majority vote of the Commission, 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.  In addition, the maximum time for public comment for any individual item or topic is thirty (30)  minutes.  Also, the Commission may terminate public comments if such comments become repetitious.   Speakers may not yield their time to others without the consent of the Chair.  Any written documents to  be distributed or presented to the Commission 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 Commission should not take action on or discuss matters raised during public  comment portion of the agenda that are not listed on the agenda.  Commission members may refer such  matters to staff for factual information or to be placed on the subsequent agenda for consideration.   4. APPROVAL OF MINUTES – JANUARY 11, 2017        Riverside County Transportation Commission Agenda  March 8, 2017  Page 2  5. ADDITIONS / REVISIONS – The Commission 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 Commission subsequent to the posting of the agenda.  An action adding an  item to the agenda requires 2/3 vote of the Commission.  If there are less than 2/3 of the  Commission 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.    6. 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.     6A. QUARTERLY FINANCIAL STATEMENTS  Page 1   Overview      This item is for the Commission to:    1) Receive and file the Quarterly Financial Statements for the period ended  December 31, 2016; and    2) Approve an increase of $20 million in FY 2016/17 Budget expenditures related  to debt service for the retirement of commercial paper notes.     6B. QUARTERLY SALES TAX ANALYSIS  Page 9   Overview      This item is for the Commission to receive and file the sales tax analysis for Quarter 3,  2016 (3Q 2016).   6C. QUARTERLY INVESTMENT REPORT  Page 18   Overview      This item is for the Commission to receive and file the Quarterly Investment Report for  the quarter ended December 31, 2016.   6D. SINGLE SIGNATURE AUTHORITY REPORT  Page 79   Overview      This item is for the Commission to receive and file the Single Signature Authority report  for the second quarter ended December 31, 2016.  Riverside County Transportation Commission Agenda  March 8, 2017  Page 3   6E. REIMBURSEMENT RESOLUTION FOR INTERSTATE 15 EXPRESS LANES PROJECT  Page 81   Overview      This item is for the Commission to adopt Resolution No. 17‐003, “Declaration of Official  Intent of Riverside County Transportation Commission to Reimburse Certain  Expenditures from Proceeds of Indebtedness”.   6F. STATE AND FEDERAL LEGISLATIVE UPDATE  Page 87   Overview      This item is for the Commission to:    1) Adopt the following bill positions:     a) AB 351 (Melendez) – Support;     b) AB 91 (Cervantes) – Oppose;    2) Receive and file an update on state and federal legislation.   6G. CITY OF RIVERSIDE FUNDING/REPROGRAMMING REQUEST FOR THE MAGNOLIA  AVENUE TRAFFIC SIGNAL INTERCONNECT SYSTEM PROJECT  Page 90   Overview      This item is for the Commission to:    1) Approve the request by the city of Riverside (Riverside) to increase funding to  cover a cost increase for the Magnolia Avenue traffic signal interconnect system  project by reprogramming a combination of Congestion Mitigation and Air  Quality (CMAQ) and/or available Mobile Source Reduction Committee (MSRC)  funds in the total amount of $637,500;    2) Approve the termination of Agreement No. 14‐72‐127‐00 with Riverside for the  CMAQ funding of the State Route 91 pedestrian/bicycle bridge project;    3) Approve the termination of Agreement No. 14‐65‐108‐00 with the city of  Eastvale (Eastvale) for the MSRC funding of the Hamner Avenue traffic  synchronization project;    4) Approve Agreement No. 14‐72‐126‐01, Amendment No. 1 to Agreement No. 14‐72‐126‐00, and Agreement No. 14‐65‐110‐01, Amendment No. 1 to  Agreement No. 14‐65‐110‐00, with Riverside related to the increase in CMAQ  and MSRC funding, respectively, for the Magnolia Avenue traffic signal  interconnect system project;    5) Approve Agreement No. 14‐72‐122‐01, Amendment No. 1 to Agreement No. 14‐72‐122‐00, with Eastvale for an increase in the percentage of CMAQ funding  for the Hamner Avenue traffic synchronization project;  Riverside County Transportation Commission Agenda  March 8, 2017  Page 4    6) Authorize staff to submit the recommended project funding revisions to the  MSRC for approval;    7) Approve Agreement No. 14‐65‐106‐02, Amendment No. 2 to Agreement No. 14‐65‐106‐00, with the MSRC for revised funding of MSRC projects;    8) Authorize the Chair or Executive Director, pursuant to legal counsel review, to  execute the agreements on behalf of the Commission; and    9) Authorize staff to submit the recommended actions to the Southern California  Association of Governments (SCAG) for inclusion in the 2017 Federal  Transportation Improvement Program (FTIP).   6H. COUNTY OF RIVERSIDE – SCOPE OF WORK CHANGE FOR SALT CREEK MULTIMODAL  URBAN TRAIL – 2013 CALL FOR PROJECTS AWARDED PROJECT  Page 97   Overview      This item is for the Commission to:      1) Approve the scope of work change for the Salt Creek Multimodal Urban Trail  through the cities of Canyon Lake, Menifee, and Hemet;    2) Approve Agreement No. 14‐72‐132‐01, Amendment No. 1 to Agreement  No. 14‐72‐132‐00, with the county of Riverside to reflect the revised scope of  work for Salt Creek Multimodal Urban Trail; and    3) Authorize the Chair or Executive Director, pursuant to legal counsel review, to  execute the agreement on behalf of the Commission.   6I. AMENDMENT TO THE 91 EXPRESS LANES OPERATOR AGREEMENT  Page 106   Overview      This item is for the Commission to:    1) Approve Agreement No. 13‐31‐105‐03, Amendment No. 3 to the 91 Express  Lanes Operator Agreement No. 13‐31‐105‐00 (commonly referred to as the  ORCOA), among the Orange County Transportation Authority (OCTA), the  Commission, and Cofiroute USA, LLC (Cofiroute) to incorporate the joint lane  system maintenance agreement for an additional amount of $1,629,194 and a  total amount not to exceed $32,826,193; and    2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to  execute the amendment on behalf of the Commission.  Riverside County Transportation Commission Agenda  March 8, 2017  Page 5   6J. AMENDMENT WITH JACOBS ENGINEERING GROUP, INC. FOR THE MID COUNTY  PARKWAY PROJECT  Page 126   Overview      This item is for the Commission to:    1) Approve Agreement No. 04‐31‐018‐12, Amendment No. 12 to Agreement No.  04‐31‐018, with Jacobs Engineering Group, Inc. (Jacobs) to continue to perform  Phase III post environmental impact report/environmental impact statement  (EIR/EIS) closeout tasks through the permitting process, conduct work to  implement required mitigation measures, and respond to requests for  information and provide non‐legal technical support to the Commission and its  legal counsel for the Mid County Parkway (MCP) project for an additional  amount of $2,595,098, plus a contingency amount of $259,510, for a total  additional amount of $2,854,608, resulting in a total amount not to exceed  $49,852,025;    2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to  execute the agreement on behalf of the Commission; and    3) Authorize the Executive Director or designee to approve the use of the  contingency amount as may be required for these services.   6K. REQUEST TO DECLARE REAL PROPERTY AS SURPLUS  Page 136   Overview      This item is for the Commission to:    1) Declare as surplus the real property in the areas of the State Route 91 high  occupancy vehicle lanes (SR‐91 HOV) project and former alignment of the Mid  County Parkway (MCP) near Cajalco Road, as specifically identified in this report  and attached maps;    2) Authorize the Executive Director to notify public agencies pursuant to  Government Code 54220 et.seq. the properties are available; and    3) If no response is received, authorize the Executive Director to offer the surplus  properties for sale to the public.  Riverside County Transportation Commission Agenda  March 8, 2017  Page 6   6L. AGREEMENTS FOR ON‐CALL PROPERTY MAINTENANCE AND REPAIR SERVICES  Page 143   Overview      This item is for the Commission to:    1) Award the following agreements to provide on‐call property maintenance and  repair 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 $1.5 million;     a) Agreement No. 17‐33‐029‐00 to Braughton Construction, Inc.;     b) Agreement No. 17‐33‐030‐00 to Carry All;     c) Agreement No. 17‐33‐031‐00 to DeAngelo Brothers, LLC;     d) Agreement No. 17‐33‐032‐00 to Real Estate Consulting & Services, 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;  and    3) Authorize the Executive Director, or designee, to execute task orders awarded  to contractors under the terms of the agreements.   6M. GRANT FUNDING RESOLUTIONS  Page 168   Overview      This item is for the Commission to:    1) Adopt Resolution No. 17‐004, “Resolution of the Riverside County  Transportation Commission Authorizing the Filing of Applications with the  Federal Transit Administration for Federal Transportation Assistance”; and    2) Adopt Resolution No. 17‐005, “Resolution of the Riverside County  Transportation Commission Approving the Allocation of FY 2016/17 Proposition  1B‐6961‐0002 California Transit Security Grant Program‐ California Transit  Assistance Funds to the RCTC Commuter Rail Program and Designation of  Authorized Agent”.   6N. AMENDMENTS TO FREEWAY SERVICE PATROL AGREEMENT  Page 173   Overview      This item is for the Commission to:    1) Approve Agreement No. 12‐45‐045‐04, Amendment No. 3 to Agreement  No. 12‐45‐045‐00, with Pepe’s Towing, Inc. (Pepe’s) to provide Freeway Service  Patrol (FSP) services on Beat No. 18 for an additional amount of $38,000, for a  total amount not to exceed $1,558,000;  Riverside County Transportation Commission Agenda  March 8, 2017  Page 7    2) Approve Agreement No. 12‐45‐046‐05, Amendment No. 4 to Agreement  No. 12‐45‐046‐00, with Pepe’s to provide FSP services on Beat No. 19 for an  additional amount of $70,000, for a total amount not to exceed $1,571,000;    3) Approve Agreement No. 14‐45‐009‐06, Amendment No. 4 to Agreement  No. 14‐45‐009‐00, with Steve’s Towing (Steve’s) to provide FSP services on Beat  No. 1, Beat No. 2, and State Route 91 Corridor Improvement Project (91 Project)  Beat No. 1 and 91 Project Beat No. 2 for an additional amount of $197,000 and  a total amount not to exceed $2,852,057; and    4) Authorize the Chair or Executive Director, pursuant to legal counsel review, to  execute the agreements on behalf of the Commission.   6O. FUNDING AGREEMENT WITH THE CALIFORNIA HIGHWAY PATROL FOR FREEWAY  SERVICE PATROL SUPERVISION  Page 185   Overview      This item is for the Commission to:    1) Approve Agreement No. 16‐45‐094‐01, Amendment No. 1 to Agreement No.  16‐45‐094‐00, with the California Highway Patrol (CHP) to provide supervision  and operation of the Freeway Service Patrol (FSP) program in Riverside County  for an additional amount of $731,115, and a total amount not to exceed  $1,524,296; and    2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to  execute the agreement on behalf of the Commission.   6P. IE COMMUTER SYSTEM ENHANCEMENTS  Page 188   Overview      This item is for the Commission to:    1) Approve Agreement No. 14‐41‐156‐02, Amendment No. 2 to Agreement No.  14‐41‐156‐00, with Media Beef, Inc. for programming enhancements and  website administration services for the Commuter Assistance Program (CAP) in  the amount of $193,700, plus a contingency amount of $19,370, for an  additional amount of $213,070, and a total amount not to exceed $1,151,670;     2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to  execute the agreement on behalf of the Commission; and    3) Authorize the Executive Director or designee to approve the use of contingency  amount as may be required for these services.  Riverside County Transportation Commission Agenda  March 8, 2017  Page 8  7. PROPOSED POLICY GOALS AND OBJECTIVES FOR FISCAL YEAR 2017/18 BUDGET  Page 192  Overview     This item is for the Commission to review and approve the proposed Commission Policy Goals  and Objectives for FY 2017/18.    8. AGREEMENT FOR VISUAL IDENTITY AND WEBSITE DESIGN AND MAINTENANCE SERVICES  Page 202  Overview     This item is for the Commission to:     1) Award Agreement No. 17‐14‐054‐00 to Celtis Ventures, LLC for the provision of visual  identity and website design and maintenance services for a three‐year term, and one,  two‐year option to extend the agreement, in an amount not to exceed $571,000; and   2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute  the agreement, including option years, on behalf of the Commission    9. 2017 COMPANION STUDY FOR GRADE SEPARATION PRIORITY UPDATE STUDY FOR ALAMEDA  CORRIDOR EAST (RIVERSIDE COUNTY), 2012  Page 225  Overview     This item is for the Commission to:     1) Receive and file the 2017 Companion Study for Grade Separation Priority Update Study  for Alameda Corridor East (Riverside County), 2012 (report); and   2) Direct staff to work with local jurisdictions to address the findings and  recommendations in the report, review evaluation criteria utilized in state and federal  competitive programs, and reevaluate Commission policies to support funding for  grade separation projects.    10. ITEM(S) PULLED FROM CONSENT CALENDAR AGENDA    11. COMMISSIONERS / EXECUTIVE DIRECTOR REPORT   Overview     This item provides the opportunity for the Commissioners and the Executive Director to report  on attended meetings/conferences and any other items related to Commission activities.            Riverside County Transportation Commission Agenda  March 8, 2017  Page 9  12. CLOSED SESSION   Overview     12A. CONFERENCE WITH LEGAL COUNSEL: EXISTING LITIGATION    Pursuant to Government Code Section 54956.9 (d)(1)    Case No(s). RIC1505449 and 5:16‐cv‐00133‐GW     12B. CONFERENCE WITH REAL PROPERTY NEGOTIATORS    Pursuant to Government Code Section 54956.8    Agency Negotiator: Executive Director or Designee    Property Owner(s):  See Below        Item APN(s) RCPN Property Owner(s)    1  258‐200‐016  258‐210‐001  258‐210‐011  1127 300 Manfield, LLC    13. ADJOURNMENT     The next meeting of the Commission is scheduled to be held on Wednesday, April 12, 2017, Board Room, First Floor, County Administrative Center, 4080 Lemon Street,  Riverside.    RIVERSIDE COUNTY TRANSPORTATION COMMISSION ROLL CALL MARCH 8, 2017 County of Riverside, District I County of Riverside, District II County of Riverside, District Ill County of Riverside, District IV County of Riverside, District V City of Banning City of Beaumont City of Blythe City of Calimesa City of Canyon Lake City of Cathedral City City of Coachella City of Corona City of Desert Hot Springs City of Eastvale City of Hemet City of Indian Wells City of Indio City of Jurupa Valley City of La Quinta City of Lake Elsinore City of Menifee City of Moreno Valley City of Murrieta City of Norco City of Palm Desert City of Palm Springs City of Perris City of Rancho Mirage City of Riverside City of San Jacinto City of Temecula City ofWildomar Governor's Appointee, Caltrans District 8 Abs~ D D J3' D D D D D D D f2f D D ~ LI 0 LI D LI D LI D LI D LI D LI D D D g ----,~---H -~-~~------DETACH AND IUllMIT TO THE CLIRK Of 1111 IOARD . --. -----~----. ---DATE: ~--~ "],.(> f J CHECK IF SUBJECT OF ~ -1-fl J -T __ ~A /J k .n PUBLIC COMMENTS: )" PUBLIC COMMENTS: ~ T~ ""r AGENDA mM NO.: 3 SUBJECT OF (AS usnD ON THEAGENDAI AGENDA ITEM:. _____________ _ NAME= R, fl. ,, Bft8}{t:;y~ e 11 g11err PHONE No.: 9s16?.3-<1'1 'l'f ADDRESS: -H tJ..!"J If f ~tJS PC'c r Ut G-H<if(a \/ € 9 ;zs?f 7 ~ cnv ZIP CODE 11 fi J\/~W'SPA-le-~ REPRESENTING: ri/ r;, H ~ K. () 'VEii pp E !/I A/t;.s PHONE NO.: 'IS-/~ 8'.3 -'i-9:1~ NAME OF AGENCY I ORGANIZATION I GROUP BUSINESS ADDRESS: ---'f1lf pg 0 SP s~ r JI If?//~/{~ v e-q '?.£<>7 STREET .-cnY I-ZIP CODE DETACH.AND IUBMIT TO THE CLERK OF nil BOARD ~~-DATE: 8-8" -/7 CHECK IF _ / SUBJECT OF m c.tf!J)JIJll ~ . . / J r-lrJ ,p PUBLIC COMMENTS: I!" PUBLIC COMMENTS:£/~ ~£/(/ V tel I AGENDA ITEM NO.: 2 SUBJECT OF CM LISTED ON THE AGENDA) ,....:,) AGENDA ITEM:. ______________ _ ADDRESS:_'!?~ W!!ttYOEPHONE NO.fk:I ;;;.::~ ~ CITY ~ l&RESENTING: /.!-1t£1!tr~fZ ~ PHONE NO.: ~-/&JY NAMe OF AGENCY I~/ GROUP NAME: BUSINESSADDRESS:.~~~~~~~~~~~~~~~~~~~~~~~~~~~~-STREET crrY ZIPCODE ~ 111/ 5117/Jltlr/a rto I(,#, ~ AGENDA ITEM 4 MINUTES  RIVERSIDE COUNTY TRANSPORTATION COMMISSION    MINUTES  Wednesday, January 11, 2017    1. CALL TO ORDER / ROLL CALL    The Riverside County Transportation Commission was called to order by  Chair John Tavaglione 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    Commissioner Dana Reed led the Commission in a flag salute.    Commissioners/Alternates Present Commissioners Absent    Marion Ashley Andrew Kotyuk Ginny Foat  Victoria Baca Linda Krupa Neil Winter  Rusty Bailey Bob Magee County of Riverside District 4  Ben Benoit Scott Matas   Brian Berkson Michael Naggar   Nancy Carroll Greg Pettis   Joseph DeConinck Robert Radi   Ray Desselle Dana Reed   Deborah Franklin Adam Rush   Rick Gibbs Karen Spiegel   Dawn Haggerty John F. Tavaglione   Berwin Hanna Michael Vargas   Jan Harnik Chuck Washington   Steven Hernandez Ted Weill   Jim Hyatt Michael Wilson   Kevin Jeffries       3. PUBLIC COMMENTS    At this time, Chair Tavaglione and Executive Director Anne Mayer presented Past Chair  Scott Matas with a plaque to commemorate his tenure as Chair for 2016.    Commissioner Matas thanked the Commissioners for the opportunity to serve as Chair  and commended staff for its professionalism and hard work.    Riverside County Transportation Commission Minutes  January 11, 2017  Page 2  Chair Tavaglione welcomed the new members and provided a brief tutorial on the voting  system.  He then briefed the Commission on the funeral held for Supervisor John J. Benoit,  noting the Board of Supervisors and the county of Riverside will suffer the loss for years  to come.    4. APPROVAL OF MINUTES – DECEMBER 14, 2016    M/S/C (Benoit/Franklin) to approve the December 14, 2016 minutes as  submitted.     Abstain:  Berkson, Carroll, and Hyatt    5. ADDITIONS / REVISIONS    There were no additions or revisions to the agenda.    6. CONSENT CALENDAR    M/S/C (Radi/Benoit) to approve the following Consent Calendar items.    6A. FISCAL YEAR 2016/17 MID‐YEAR REVENUE PROJECTIONS    1) Approve the mid‐year Fiscal Year 2016/17 revenue projections of $173  million for Measure A revenues, $85 million for Local Transportation Fund  (LTF) revenues, and $18.5 million for Transportation Uniform Mitigation  Fee (TUMF) revenues; and  2) Approve the budget increase adjustments to LTF transfers in of $279,000,  and expenditures and transfers out of $348,700 to reflect the revised LTF  projections.    6B. FISCAL YEAR 2017/18 REVENUE PROJECTIONS    1) Approve the projections for Measure A revenues of $176 million for Fiscal  Year 2017/18;  2) Approve the projections of the Local Transportation Fund (LTF)  apportionment of $88 million for the Western Riverside County, Coachella  Valley, and Palo Verde Valley areas for FY 2017/18; and  3) Approve the projections for Transportation Uniform Mitigation Fee  (TUMF) revenues of $20 million for FY 2017/18.       Riverside County Transportation Commission Minutes  January 11, 2017  Page 3  6C. AMENDMENT TO THE 91 EXPRESS LANES OPERATOR AGREEMENT    1) Approve Agreement No. 13‐31‐105‐02, Amendment No. 2 to the 91  Express Lanes Operator Agreement No. 13‐31‐105‐00 (commonly referred  to as the ORCOA), among the Orange County Transportation Authority  (OCTA), the Commission, and Cofiroute USA, LLC (Cofiroute) to incorporate  the final joint software license, escrow, and maintenance agreements;    reduce the monthly cost allocated for the software license and  maintenance agreements under the ORCOA; and revise Exhibit C to the  ORCOA for extended pre‐operation costs; and  2) Authorize the Chair or Executive Director, pursuant to legal counsel review,  to execute the amendment and the joint software agreements on behalf  of the Commission.    6D. AGREEMENT FOR RAILROAD RIGHT OF WAY PROPERTY MAINTENANCE  SERVICES    1) Award Agreement No. 17‐33‐028‐00 to Joshua Grading & Excavating, Inc.   (Joshua Grading) for railroad right of way (ROW) property maintenance  services for a three‐year term, and two one‐year options to extend the  agreement, in an amount of $2,750,000, plus a contingency amount of  $250,000, for a total amount not to exceed $3 million;  2) Authorize the Chair or Executive Director, pursuant to legal counsel review,  to execute the agreement, including option years, on behalf of the  Commission;  3) Authorize the Executive Director or designee to execute task orders  awarded to the contractor under the terms of the agreements; and  4) Authorize the Executive Director or designee to approve the use of the  contingency amount as may be required for these services.    6E. AGREEMENTS FOR CLOSED CIRCUIT TELEVISION MAINTENANCE AND REPAIRS  AND CAPITAL IMPROVEMENTS    1) Approve Amendment No. 4, to Agreement No. 13‐24‐066‐00 with  Fibertronics, Inc. (Fibertronics) for closed circuit television (CCTV) security  system capital improvements for an additional amount of $318,000, plus a  contingency amount of $31,800, for a total additional amount of $349,800,  and a total contract amount not to exceed $1,643,405;     Riverside County Transportation Commission Minutes  January 11, 2017  Page 4  2) Authorize the procurement of CCTV equipment through the use of the  California Multiple Award Schedules (CMAS) pursuant to the Public  Contract Code Section 10299(a) and the Commission’s Procurement Policy  Manual in the amount of $667,000.00, plus a contingency amount of  $66,700, for a total amount not to exceed $733,700;  3) Authorize the Chair or Executive Director, pursuant to legal counsel review,  to execute the agreement on behalf of the Commission;  4) Authorize the Executive Director or designee to execute task orders  awarded under the terms of the agreements; and  5) Authorize the Executive Director or designee to approve the use of the  contingency amount as may be required for the CCTV maintenance,  repairs, and capital improvements.    6F. AGREEMENT WITH S2 ENGINEERING FOR CONSTRUCTION MANAGEMENT  SERVICES FOR THE CONSTRUCTION OF THE LA SIERRA PARKING LOT EXPANSION  PROJECT    1) Award Agreement No. 16‐24‐080‐00 to S2 Engineering, Inc. (S2) to provide  construction management (CM), materials testing, and construction  surveying services for the La Sierra Parking Lot Expansion project, in the  amount of $544,000, plus a contingency amount of $54,400, for a total  amount not to exceed $598,400;  2) Authorize the Chair or Executive Director, pursuant to legal counsel review,  to execute the agreement on behalf of the Commission; and  3) Authorize the Executive Director or designee to approve the use of the  contingency amount as may be required for the project.    6G. SUBRECIPIENT AGREEMENT FOR RIVERSIDE TRANSIT AGENCY FOR PERRIS  VALLEY LINE SHUTTLES    1) Approve Agreement No. 17‐25‐017‐00 with the Riverside Transit Agency  (RTA) for the Commission’s funding commitment related to the Perris  Valley Line (PVL) shuttle services for a total amount not to exceed $6  million for a term of five years;  2) Authorize the Chair or Executive Director, pursuant to legal counsel review,  to execute the agreement on behalf of the Commission; and  3) Authorize the Executive Director to approve and execute amendments to  the agreement related to revised compensation amounts in subsequent  years.       Riverside County Transportation Commission Minutes  January 11, 2017  Page 5  6H. FISCAL YEAR 2016/17 COMMUTER RAIL SHORT RANGE TRANSPORTATION PLAN  AND BUDGET AMENDMENT    1) Approve an amendment of $20 million in federal Congestion Mitigation Air  Quality (CMAQ) revenues to the Fiscal Year 2016/17 Commuter Rail Short  Range Transit Plan (SRTP); and  2) Approve an increase to the FY 2016/17 budget of $4.7 million for CMAQ  grant revenues and corresponding rail operations and shuttle service  expenditures.    6I. RESOLUTION TO OBTAIN PROPOSITION 1B GRANT FUNDING    Adopt Resolution No. 17‐001, “Resolution of the Riverside County Transportation  Commission Approving the Authorization for the Execution of the Certifications  and Assurances for the Public Transportation Modernization, Improvement, and  Service Enhancement Account Bond Program”.    6J. OPERATION OF THE FREEWAY SERVICE PATROL PROGRAM IN RIVERSIDE  COUNTY    1) Approve Agreement No. 17‐45‐057‐00 with the California Department of  Transportation (Caltrans) for the operation of the Riverside County  Freeway Service Patrol (FSP) program in an amount not to exceed  $1,648,178 in state funding for Fiscal Year 2016/17; and  2) Authorize the Chair or Executive Director, pursuant to legal counsel review,  to execute the agreement on behalf of the Commission.    7. PRESENTATION:  40TH ANNIVERSARY SPOTLIGHT – EXPANSION OF LEGISLATION    John Standiford, Deputy Executive Director, presented the 40th Anniversary Spotlight on  the creation and composition of the Commission and its expansion.    8. CALIFORNIA TRANSPORTATION COMMISSION’S ACTIVE TRANSPORTATION PROGRAM  CYCLE 3 FOR FISCAL YEARS 2019/20 – 2020/21    Lorelle Moe‐Luna, Senior Management Analyst, provided an overview of the Active  Transportation Program (ATP) and presented the Riverside County ATP project  recommendations.    Mariela Magaña, representing the Leadership Counsel for Justice and Accountability,  expressed opposition to awarding funding for the CV Link project and discussed letters  dated November 28, 2016, and January 10, 2017, from various agencies regarding an  urgent request to reevaluate the CV Link application for ATP addressed to the California  Riverside County Transportation Commission Minutes  January 11, 2017  Page 6  Transportation Commission (CTC), Southern California Association of Governments  (SCAG), and the Commission.  Copies of the letters were distributed to the Commissioners  at the dais.    Tom Kirk, Coachella Valley Association of Governments (CVAG) Executive Director, spoke  in support of the CV Link project, the staff recommendation, and the ATP process and  expressed strong concern regarding representatives of Riverside County campaigning at  the CTC against state and federal funding coming to Riverside County.    Anne Mayer, Executive Director, concurred with Mr. Kirk’s support comments, specifically  regarding the ATP process and discussed the basis for her support.    Chair Tavaglione expressed his support for the CV Link project, noting when asked by a  media outlet shortly after Supervisor Benoit’s passing, which project he believed  Supervisor Benoit would consider his greatest accomplishment and be proudest of, his  first response was CV Link.    Commissioner Marion Ashley expressed his support for the CV Link project due to its  importance to the quality of life for the Coachella Valley residents.  He also expressed the  request to reevaluate and reconsider the eligibility of this project is without merit.    Commissioner Karen Spiegel requested confirmation from the Commissioners from the  cities of Indian Wells and Rancho Mirage that those cities have withdrawn from the  CV Link project as stated in the January 10 letter.    Chair Tavaglione responded Commissioner Ted Weill representing Rancho Mirage will be  requesting a bifurcation of the vote as the city of Rancho Mirage voters passed ballot  measures to not support CV Link.    Commissioner Jan Harnik discussed her support of the ATP process, noting the CV Link  project’s positive impacts on creating jobs, reducing greenhouse gases, and improving the  quality of life.  She then reflected on discussions with Supervisor Benoit regarding the  benefits of this project to the underserved communities.  She also expressed respect for  the city of Rancho Mirage’s decision, noting there are others ways to connect the project.    Commissioner Dawn Haggerty expressed her support for the project.    Commission Weill requested a bifurcation of staff recommendation no. 1 to take action  on the CV Link project separately from the other two projects as the city of Rancho Mirage  voters passed ballot measures to not support the CV Link project.  He also expressed his  respect for Supervisor Benoit.  He then briefly highlighted the city’s issues with the  CV Link project.    Riverside County Transportation Commission Minutes  January 11, 2017  Page 7  Commissioner Greg Pettis stated, as its Past President, SCAG has strongly and consistently  supported this project.  Additionally, the city of Cathedral City strongly supports this  project and is in final design for the first phase, which includes city funding.    Commissioner Michael Wilson discussed his strong support for the project.  He expressed  respect for Rancho Mirage’s autonomy and then respectfully requested representatives  of Rancho Mirage resign from undermining projects and funding supported by other  cities.    Vice Chair Dana Reed clarified he is unaware of any such withdrawal by Indian Wells from  CV Link as indicated in the January 10 letter.  He stated when CVAG submits a tangible  proposal for the location of CV Link in Indian Wells, it will be presented to the voters of  Indian Wells.  He stated the request from the voters is a far cry from withdrawing from  the project.    Commissioner Steven Hernandez concurred with the other Commissioners’ comments  regarding the merits of the CV Link project.  He then assured the non‐profit agencies who  were party to the letters that the ATP evaluation process works and the Commission can  assist these agencies with their project applications.    Commissioner Joseph DeConinck noted when CVAG originally took action on the CV Link  project, the vote was unanimous to support it, including the vote from the city of Rancho  Mirage.    M/S/C (Weill/Reed) to separate the action on the projects in staff  recommendation no. 1 into two separate actions; one action for the CV Link  project and one action for the other two projects.    M/S/C (Wilson/Benoit) to:    1a) Approve the Riverside County Active Transportation Program (ATP)  CV Link project for inclusion in the Metropolitan Planning Organization  (MPO) ATP Regional Program Cycle 3;    Roll Call Vote – Yes:  27 No:  Weill     Abstain:  Reed and Rush    M/S/C (Reed/Tavaglione) to:    1b) Approve the balance of the recommended Riverside County Active  Transportation Program (ATP) projects for inclusion in the Metropolitan  Planning Organization (MPO) ATP Regional Program Cycle 3 consisting of  the highest scoring implementation projects (85.5 to 87 pts) in the total  amount of $6,627,537;  Riverside County Transportation Commission Minutes  January 11, 2017  Page 8  M/S/C (Ashley/Washington) to:    2) Submit the recommended projects to the Southern California Association  of Governments (SCAG) for inclusion in the MPO ATP Regional Program  and subsequent submittal to the California Transportation Commission  (CTC) for final approval in March 2017;  3) Submit the MPO ATP regional projects to SCAG for inclusion in the  Federal Transportation Improvement Program (FTIP) programming; and  4) Direct staff to coordinate with the MPO ATP Regional Program project  sponsors regarding timely funding allocations, obligations, and project  delivery.    At this time, Commissioners Andrew Kotyuk and Michael Vargas left the meeting.    9. LOCAL TRANSPORTATION FUND LOAN TO SUNLINE TRANSIT AGENCY    Robert Yates, Multimodal Services Director, presented the request from SunLine Transit  Agency for an advance of Local Transportation Fund funds due to a delay in filing its Fiscal  Year 2015/16 federal 5307 grant application.    M/S/C (Radi/Pettis) to approve an advance of Local Transportation Fund (LTF)  funds in the amount of $3 million to SunLine Transit Agency (SunLine).    Abstain:  Rush    At this time, Commissioner Vargas rejoined the meeting.    10. 2017 STATE AND FEDERAL LEGISLATIVE PLATFORM    Aaron Hake, External Affairs Director, presented the proposed 2017 State and Federal  Legislative Platform for the Commission.  Additionally, he noted the Governor’s proposed  budget includes $25 million for the Freeway Service Patrol program.    M/S/C (Jeffries/Radi) to adopt the Commission’s 2017 State and Federal  Legislative Platform.    11. ITEM(S) PULLED FROM CONSENT CALENDAR FOR DISCUSSION    There were no items pulled from the Consent Calendar.       Riverside County Transportation Commission Minutes  January 11, 2017  Page 9  12. COMMISSIONERS/EXECUTIVE DIRECTOR’S REPORT    12A. Commissioner Harnik reported to the Commission on recent SCAG activities.    12B. Commissioner Kevin Jeffries requested staff evaluate the concept of the  Commission assuming full administration of the Transportation Uniform  Mitigation Fee program as the Commission is the authoritative body on  transportation needs for the county.    Chair Tavaglione requested the Executive Director bring this matter forward at the  Commission Workshop for discussion and staff direction.    12C. Commissioner Spiegel announced the California League of Cities, Riverside  Division, will hold an orientation for new councilmembers on February 3, 8 a.m.  to Noon in Banning, including presentations from the Commission,  WRCOG, Riverside Transit Agency, and other local public agencies.    Chair Tavaglione encouraged all new councilmembers to attend.    12D. Commissioner Michael Naggar suggested staff monitor any new Administration  proposals related to infrastructure improvements and sanctuary states to prevent  a loss of funding to Riverside County.    12E. Commissioner Ben Benoit thanked those who attended his father’s funeral on  Tuesday and to everyone who shared kind words.  He expressed his belief that  while his father’s path ended, his great works in these communities, especially in  the Coachella Valley, will continue.  He then shared his father’s excitement and  passion for the CV Link project.    At this time, Commissioners Jeffries and Magee along with Caltrans District 8 representative  Ray Desselle left the meeting.    13. CLOSED SESSION    13A. CONFERENCE WITH LEGAL COUNSEL: EXISTING LITIGATION   Pursuant to Government Code Section 54956.9(d)(1)   Case No.(s) RIC 10016058    There were no announcements from the Closed Session item.       Riverside County Transportation Commission Minutes  January 11, 2017  Page 10  14. ADJOURNMENT    There being no further business for consideration by the Riverside County Transportation  Commission, Chair Tavaglione adjourned the meeting at 11:08 a.m. in honor of Supervisor  and Commissioner John J. Benoit.  The next meeting of the Commission is scheduled to  be held on Thursday and Friday, January 26‐27, 2017, Hyatt Palm Springs, 285 N. Palm  Canyon Drive, Palm Springs, CA 92262.    Respectfully submitted,    Jennifer Harmon  Clerk of the Board  AGENDA ITEM 6A BLANK Agenda Item 6A  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM: Budget and Implementation Committee  Michele Cisneros, Deputy Director of Finance  THROUGH: Anne Mayer, Executive Director  SUBJECT: Quarterly Financial Statements    BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION:    This item is for the Commission to:    1) Receive and file the Quarterly Financial Statements for the period ended December 31,  2016; and  2) Approve an increase of $20 million in FY 2016/17 Budget expenditures related to debt  service for the retirement of commercial paper notes.    BACKGROUND INFORMATION:    During the first six months of the fiscal year, staff monitored the revenues and expenditures of  the Commission.  The attached financial statements present the revenues and expenditures for  the first six months of the fiscal year.  Period closing accrual adjustments are not included for  revenues earned but not billed and expenditures incurred for goods and services received but  not yet invoiced, as such adjustments are normally made during the year‐end closing process.    The operating statement shows the sales tax revenues for the second quarter at 30 percent of  the budget.  This is a result of Governmental Accounting Standards Board (GASB) Statement   No. 33.  GASB No. 33 requires sales tax revenues to be accrued for the period in which it is  collected at the point of sale.  The State Board of Equalization (SBOE) collects the Measure A  funds and remits these funds to the Commission after the reporting period for the businesses.   This creates a two‐month lag in the receipt of revenues by the Commission.  Accordingly, these  financial statements reflect the revenues related to collections for October 2016.    On a cash basis, the Measure A and Local Transportation Fund sales tax revenues are 9.56 and  13.69 percent higher, respectively than the same period last year; however, these revenues for  the eight months ended February 28, 2017 are flat compared to the same period last year.  These  fluctuations appear to be unusual.  State Transit Assistance Fund receipts through second quarter  have not yet been submitted by the SBOE.  Staff will continue to monitor the trends in the sales  tax receipts and report to the Commission any necessary adjustments.    1 Agenda Item 6A  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.      During FY 2016/17 budget process, the Commission took a conservative approach to estimate  the Transportation Uniform Mitigation Fee (TUMF) revenues of $18.5 million passed through  from the Western Riverside Council of Governments (WRCOG).  The Commission received TUMF  receipts through October 2016.  The budgeted balance of $20,000 relates to the TUMF zone  reimbursements from WRCOG for the 215 Interchange project.    Toll revenues budgeted at $3.8 million represent a half year of projected toll transactions for the  RCTC 91 Express Lanes based on the Riverside County 91 Express Lanes Extension Investment  Grade Traffic and Revenue Report and 2013 financing assumptions.  The commencement of toll  operations is scheduled for early 2017.    Other revenues include $2.34 million of non‐toll source of revenues not attributable directly to  toll transactions and derived from the Commission’s share of 91 Express Lanes’ transaction‐based  fees and account‐based fees, net of uncollectable tolls.  The budgeted balance of $173,000  relates to property management revenues generated from various Commission‐owned  properties.     The Commission took a conservative approach in estimating investment income for FY 2016/17,  as a result of flat interest yields on investment balances.  Investment income is slightly higher in  the second quarter primarily as a result of the investment of sales tax and toll revenue bond  proceeds.     The expenditures/expenses and other financing sources/uses categories are in line overall with  the expectations of the budget with the following exceptions.      Professional services are higher in the second quarter due to a swap termination payment  of $10.3 million to Deutsche Bank (DB).  Due to Moody’s Investor Service lowering DB’s  long‐term rating to Baa2, the downgrade resulted in the occurrence of a termination  event under the swap agreement.  At its September 2016 meeting, the Commission  approved the termination of the forward interest rate swap with DB in the outstanding  notional amount of $63.9 million and a termination cost of $10.3 million, resulting in the  refunding of the 2009 Series A Sales Tax Revenue Variable Rate Demand Bonds (2009 A  Bonds);   Support costs are under budget due to unused budget authority for rail station and  motorist assistance maintenance and repairs and toll operations support;   Program operations are under budget due to unused budget authority for the 91 Project  activities, motorist and commuter assistance program operations, and highway and rail  program management;   Capital project expenditures are generally affected by lags in invoices submitted by  contractors and consultants, as well as other issues encountered during certain phases of  the projects.  The negative expenditure amount for right of way/land reflects the reversal  2 Agenda Item 6A  of FY 2015/16 accrued expenditures at the beginning of FY 2016/17, in excess of amounts  paid through the second quarter.  The status of significant capital projects with budget  exceeding $5 million is discussed in the attachment;   Special studies unused budget authority related to feasibility studies;   Local streets and roads are related to the timing of Measure A sales tax revenues as  previously explained.  These financial statements reflect expenditures made to the local  jurisdictions related to collections through October 2016;   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 funds and sufficient budget authority;   Debt service principal payments are made annually on June 1, while interest payments  are made semiannually on December 1 and June 1, except for the 2009 Sales Tax Revenue  Bonds (variable rate) as those interest payments are monthly.  The Commission approved  the issuance of the 2016 Refunding Bonds primarily to refund all of the outstanding 2009  A Bonds and to retire all of the $20 million outstanding commercial paper notes, which  proceeds were applied to finance a termination payment in connection with an interest  rate swap agreement with DB;   Cost of issuance and payment to escrow agent relate to the 2016 Series A Sales Tax  Revenue Refunding Bonds (2016 Refunding Bonds) resulting from the termination of DB  interest rate swap and refunding of the 2009 A Bonds.  The financial closing of the  issuance of the 2016 Refunding Bonds and payment of the cost of issuance and payment  to escrow agent were made in October 2016;   Capital outlay expenditures are under budget due to unused budget authority for station  security improvements, toll operations equipment, and Commission network, hardware,  and software improvements;    The Commission entered into a loan agreement with the U.S. Department of  Transportation in July 2013 for a $421,054,409 Transportation Infrastructure Finance and  Innovation Act (TIFIA) loan to pay eligible 91 Project 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.  Through the second quarter, the  Commission drew down $95.6 million in TIFIA loan proceeds.  During construction of the  91 Project and for a period of up to five years following substantial completion, interest  is compounded and added to the initial TIFIA loan.  TIFIA debt service payments are  expected to commence on December 1, 2021, which is approximately five years after  substantial completion of the 91 Project, through June 1, 2051; and   At its September 2016 meeting, the Commission approved the issuance of the 2016  Refunding Bonds of $76.1 million to refund all of the outstanding 2009 A Bonds, retire all  of the outstanding commercial paper notes which have been applied to finance a  termination payment in connection with an interest rate swap agreement with DB, and  pay cost of issuance.  Approximately $40 million of commercial paper notes issuance was  included in the FY 2016/17 budget and is expected to occur in subsequent quarters.    3 Agenda Item 6A  At the September 2016 Commission meeting when the Commission approved the termination of  the DB swap and related issuance of the 2016 Refunding Bonds, staff inadvertently overlooked  the need for a budget adjustment of $20 million for the retirement of outstanding commercial  paper notes, which were used to finance the swap termination payment.  Accordingly, staff  recommends a budget adjustment to increase debt service expenditures $20 million.    Financial Information  In Fiscal Year Budget: No Year: FY 2016/17 Amount: $20,000,000  Source of Funds: 2016 Refunding Bonds  Budget Adjustment: Yes  GL/Project Accounting No.: 303 31 97101  Fiscal Procedures Approved: Date: 02/07/2017    Attachments:  1) Quarterly Project Status – December 2016  2) Quarterly Financial Statements – December 2016  4 RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUARTERLY PROJECT STATUS 2ND QUARTER FOR SIX MONTHS ENDED 12/31/2016 FY 2016/17 BUDGET 2ND QUARTER EXPENDITURES Project Description Project Status 91 Project (Design-Build) $ 196,476,400 $83,556,846 The Design-Build contract has an actual reported progress of 95 percent as of December 31, 2016. The Commission has acquired and delivered all 197 Caltrans Parcel Numbers to the Design- Builder. Construction began on all 32 bridges (30 bridges are complete) and 90 walls (of 92, 84 walls are complete), while 89 (of 90)utility relocations are complete. The under run of the FY 2016/17 budget at the second quarter is due to under runs in right of way, including anticipated goodwill and negotiated settlement costs later in the fiscal year ($28.9 million), the Design-Build contract ($28.9 million), the project and construction management (PCM) contract ($2.5 million), and the Caltrans Cooperative Agreement ($3.5 million). The project will connect with Orange County Transportation Authority’s tolled express lanes at the Orange County/Riverside County line and continue approximately eight miles to the Interstate (I)-15/State Route (SR)-91 interchange. The project involves widening pavement on the outside of the existing highway to reposition general purpose lanes and repurposing the existing High Occupancy Vehicle (HOV) lanes to accommodate two-tolled express lanes in the median in each direction. The SR-91 CIP also involves constructing one new general purpose lane in each direction from SR-71 to I-15, ultimately providing two-tolled express lanes and five general purpose lanes in each direction. SR-91 CIP development activities began in September 2007, construction work related to roadway and structures began in July 2014, and the toll lanes are expected to open in early 2017. The total acquisition and construction cost of the SR- 91 CIP is estimated at $1.4 billion, including capitalized interest, debt service reserves, contingency, and cost of issuance. I-15 Express Lanes Project 32,832,300 5,866,123 Staff completed the project report and environmental document phase of work in May 2016. Procurement shortlists for both toll services and design-build were announced in the first quarter of 2016. Staff is concluding the two procurements for toll system and operations and design-build civil work with award of the tolling services contract in January 2017 and the anticipated award date of the design-build contract in April 2017. The under run of the FY 2016/17 budget at the second quarter is due to under runs in the PCM contract ($1.6 million) and special legal services for completion of the Toll Systems Provider and Design-Build procurement documents ($1.5 million). The project will generally add two tolled express lanes in each direction from SR-60 to Cajalco Road in Corona. Project development activities began in April 2008, and lanes are expected to open to traffic in 2020. The 2016 CAPEX forecast estimates the total project cost at $486 million, which includes $46 million of contingency. ATTACHMENT 1 5 FY 2016/17 BUDGET 2ND QUARTER EXPENDITURES Project Description Project Status I-215 Corridor Improvements/Scott Road to Nuevo Road 5,588,728 892,720 The notice to proceed for construction was issued in December 2012 and construction started in January 2013. Aesthetic work along the freeway has been completed and the project is substantially complete. Caltrans punch-list items work remains. Final project accounting is underway. The project will add one mixed flow lane in each direction. Preliminary engineering began in 2007 and was completed in 2011. Final design began in 2011 and was completed in December 2012; construction began in 2013 and is expected to be completed in 2016. The estimated project cost is $120 million. Mid County Parkway 10,764,300 1,819,130 Staff completed the work on the Environmental Impact Report (EIR)/Environmental Impact Study (EIS). Major milestones have been met and the project’s Record of Decision was published in the Federal register in August 2015. The Commission approved the procurement for final design of the I-215 Placentia Interchange in November 2016. Staff has been working with the Federal Highway Administration on approval of the New Connection Report, approval of the Habitat Mitigation and Monitoring Plan with the U.S. Army Corps of Engineers, and purchasing of the required land mitigations. The Commission acquired some of the mitigation land needed for the project. Staff continues to work on identifying the remaining mitigation land needed. The environmental document for a new corridor from I- 215 to SR-79 was approved in April 2015. The first design package is anticipated to be completed in FY 2018/2019. Construction of this new facility will be completed over many years as funding becomes available; the project cost is estimated at $1.3 to $1.6 billion. Pachappa Underpass Project 12,183,500 46,264 Right of way needs have been determined and acquisition will begin in third quarter; design matters continue; and the option to retain the shoofly and adjoining walls has been discontinued. The project will remove the Pachappa shoofly activities and construct the retaining wall, drainage, and track work for the permanent Pachappa underpass; the project cost is estimated at $12 million. Perris Valley Line and other rail projects 8,043,900 -5,729,628 The FTA awarded Small Starts Grant Agreement funds. ROW acquisition activities for the station and layover facility at south Perris have been completed. Following the settlement of a lawsuit challenging elements of the California Environmental Quality Act document in July 2013, the construction contract was given limited notice to proceed in October 2013 and full notice following FTA approval of the Small Starts Grant Agreement. Active construction commenced in January 2014. Metrolink operations commenced in June 2016. Substantial completion was reached in September 2016. Final completion is expected in March 2017. The project is in the construction phase with the extension of commuter rail services to the city of Perris. The project commenced in December 2007 when the Commission received approval from the Federal Transit Administration (FTA) to move into project development. Expected completion date is December 2015 for an estimated project cost of $248.3 million. Other rail projects include adding a fourth main track between the Riverside Downtown station to the connector to the San Jacinto Branch Line at Highgrove. This list discusses the significant capital projects (i.e., total budgeted costs in excess of $5 million) and related status. Capital project expenditures are generally affected by lags in invoices submitted by contractors and consultants, as well as issues encountered during certain phases of the projects. The capital projects budgets tend to be based on aggressive project schedules. 6 Revenues Sales tax 268,821,600$ 79,674,358$ (189,147,242)$ 30% Federal reimbursements 37,156,953 718,098 (36,438,855)2% State reimbursements 11,589,241 1,683,926 (9,905,315)15% Local reimbursements 10,496,100 438,317 (10,057,783)4% Transportation Uniform Mitigation Fee 18,520,000 5,663,598 (12,856,402)31% Toll revenues 3,798,000 - (3,798,000)N/A Other revenues 2,518,000 131,973 (2,386,027)5% Investment income 1,849,000 992,820 (856,180)54% Total revenues 354,748,894 89,303,090 (265,445,804)25% Expenditures Salaries and benefits 9,505,100 4,655,810 4,849,290 49% Professional and support Professional services 22,098,600 15,700,391 6,398,209 71% Support costs 10,121,500 2,655,359 7,466,141 26% Total Professional and support costs 32,220,100 18,355,750 13,864,350 57% Projects and operations Program operations - general 21,408,900 4,726,823 16,682,077 22% Engineering 18,282,900 909,796 17,373,104 5% Construction 90,913,279 6,474,101 84,439,178 7% Design Build 146,955,600 81,787,205 65,168,395 56% Right of way/land 83,809,713 (1,286,333) 85,096,046 -2% Operating and capital disbursements 150,989,792 61,435,697 89,554,095 41% Special studies 2,965,000 491 2,964,509 0% Local streets and roads 51,358,000 15,834,618 35,523,382 31% Regional arterials 30,516,600 3,446,276 27,070,324 11% Total projects and operations 597,199,784 173,328,674 423,871,110 29% Debt service Principal 8,100,000 20,000,000 (11,900,000) 247% Interest 56,615,800 22,453,363 34,162,437 40% Cost of issuance 645,000 654,006 (9,006) 101% Payment to escrow agent 63,900,000 63,900,000 - 100% Total debt service 129,260,800 107,007,369 22,253,431 83% Capital outlay 2,201,000 465,556 1,735,444 21% Total Expenditures 770,386,784 303,813,159 466,573,625 39% Excess revenues over (under) expenditures (415,637,890) (214,510,069) 483,937,723 52% Other financing sources/(uses) Transfer in 241,966,700 83,766,373 (158,200,327) 35% Transfer out (241,966,700) (83,766,373) 158,200,327 35% TIFIA loan proceeds 100,269,200 95,558,957 (4,710,243) 95% Debt proceeds 103,225,000 76,140,000 (27,085,000) 74% Total financing sources/(uses)203,494,200 180,112,963 23,381,237 89% Net change in fund balances (212,143,690) (34,397,106) 507,318,960 16% Fund balance July 1, 2016 741,082,700 740,421,402 (661,298) 100% Fund balance December 31, 2016 528,939,010$ 706,024,296$ 506,657,662$ 133% QUARTERLY BUDGET TO ACTUAL RIVERSIDE COUNTY TRANSPORTATION COMMISSION 2ND QUARTER FOR SIX MONTHS ENDED 12/31/2016 FY 2016/17 BUDGET 2ND QUARTER ACTUAL PERCENT UTILIZATION REMAINING BALANCE ATTACHMENT 2 7 ENTERPRISE FUND TRANSPORTATION DEVELOPMENT ACT AGENCY FUND TOLL OPERATIONS Revenues Sales tax 1,300,000$ -$ 40,607,622$ 11,618,369$ 308,821$ 27,006,088$ (1,166,542)$ -$ -$ -$ -$ -$ -$ -$ -$ 79,674,358$ Federal reimbursements 68,637 - (738,712) - - - - - - - - - - - 1,388,173 718,098 State reimbursements 87,588 791,801 804,537 - - - - - - - - - - - - 1,683,926 Local reimbursements (11,703) 121,305 328,715 - - - - - - - - - - - - 438,317 Transportation Uniform Mitigation Fee - - - - - - - 5,663,598 - - - - - - - 5,663,598 Other revenues (40,330) - 172,303 - - - - - - - - - - - - 131,973 Investment income 17,684 12,833 233,330 49,962 - 154,430 72,014 83,097 5,979 692 - 786,867 46,868 63,044 (533,980) 992,820 Total revenues 1,421,876 925,939 41,407,795 11,668,331 308,821 27,160,518 (1,094,528) 5,746,695 5,979 692 - 786,867 46,868 63,044 854,193 89,303,090 Expenditures Salaries and benefits 2,981,393 47,410 1,469,179 155 - - - 125,843 17,321 14,509 - - - - - 4,655,810 Professional and support Professional services 560,816 147,338 4,247,044 3,577 - - 6,856 172,557 270,024 179 - 10,292,000 - - - 15,700,391 Support costs 2,235,246 119,055 299,231 74 - - - 1,597 156 - - - - - - 2,655,359 Total Professional and support costs 2,796,062 266,393 4,546,275 3,651 - - 6,856 174,154 270,180 179 - 10,292,000 - - - 18,355,750 Projects and operations Program operations - general 921,573 1,182,497 2,482,602 3,012 - - - 111,430 - 25,709 - - - - - 4,726,823 Engineering - - 98,640 - - - - 811,156 - - - - - - - 909,796 Construction (74,625) - 5,904,204 - - - - 644,522 - - - - - - - 6,474,101 Design Build - - 81,787,205 - - - - - - - - - - - - 81,787,205 Right of way/land - - (2,572,759) - - - - 1,286,426 - - - - - - - (1,286,333) Operating and capital disbursements 10,099,697 - 3,080,492 2,917,848 - 45,096,024 241,636 - - - - - - - - 61,435,697 Special studies - - 491 - - - - - - - - - - - - 491 Local streets and roads - - 11,459,368 4,066,429 308,821 - - - - - - - - - - 15,834,618 Regional arterials - - - 3,446,276 - - - - - - - - - - - 3,446,276 Total projects and operations 10,946,645 1,182,497 102,240,243 10,433,565 308,821 45,096,024 241,636 2,853,534 - 25,709 - - - - - 173,328,674 Debt service Principal - - - - - - - - - - - 20,000,000 - - - 20,000,000 Interest - - - - - - - - - - - 39,924 13,199 - 22,400,240 22,453,363 Cost of issuance - - - - - - - - - - - - 654,006 - - 654,006 Payment to escrow agent - - - - - - - - - - - - 63,900,000 - - 63,900,000 Total debt service - - - - - - - - - - - 20,039,924 64,567,205 - 22,400,240 107,007,369 Capital outlay 43,068 - 422,488 - - - - - - - - - - - - 465,556 Total Expenditures 16,767,168 1,496,300 108,678,185 10,437,371 308,821 45,096,024 248,492 3,153,531 287,501 40,397 - 30,331,924 64,567,205 - 22,400,240 303,813,159 Excess revenues over (under) expenditures (15,345,292) (570,361) (67,270,390) 1,230,960 - (17,935,506) (1,343,020) 2,593,164 (281,522) (39,705) - (29,545,057) (64,520,337) 63,044 (21,546,047) (214,510,069) Other financing sources/(uses) Transfer in 24,613,963 714,700 29,501,859 - - - - - 159,395 - - 20,000,000 13,199 1,398,088 7,365,169 83,766,373 Transfer out - (714,700) (18,984,637) - - (13,258,163) (159,395) - - - - (4,602,846) (30,644,739) (12,602,433) (2,799,460) (83,766,373) TIFIA loan proceeds - - 95,558,957 - - - - - - - - - - - - 95,558,957 Debt proceeds - - - - - - - - - - - - 76,140,000 - - 76,140,000 Bond premium - - - - - - - - - - - - 8,414,006 - - 8,414,006 Total financing sources/(uses)24,613,963 - 106,076,179 - - (13,258,163) (159,395) - 159,395 - - 15,397,154 53,922,466 (11,204,345) 4,565,709 180,112,963 Net change in fund balances 9,268,671 (570,361) 38,805,789 1,230,960 - (31,193,669) (1,502,415) 2,593,164 (122,127) (39,705) - (14,147,903) (10,597,871) (11,141,301) (16,980,338) (34,397,106) Fund balance July 1, 2016 10,792,190 8,722,808 201,722,613 42,644,404 556 116,816,853 71,569,302 70,616,683 3,509,978 410,879 - 42,033,114 72,278,136 20,987,831 78,316,055 740,421,402 Fund balance December 31, 2016 20,060,861$ 8,152,447$ 240,528,402$ 43,875,364$ 556$ 85,623,184$ 70,066,887$ 73,209,847$ 3,387,851$ 371,174$ -$ 27,885,211$ 61,680,265$ 9,846,530$ 61,335,717$ 706,024,296$ CAPITAL PROJECTS FUNDS GENERAL FUND FSP/ SAFE WESTERN COUNTY PALO VERDE VALLEY COACHELLA VALLEY LOCAL TRANSPORTATION FUND MEASURE A SALES TAX SPECIAL REVENUE FUNDS RIVERSIDE COUNTY TRANSPORTATION COMMISSION QUARTERLY BUDGET TO ACTUAL BY FUND 2ND QUARTER FOR SIX MONTHS ENDED 12/31/2016 SALES TAX BONDS DEBT SERVICE COMBINED TOTALCOMMERCIAL PAPER STATE TRANSIT ASSISTANCE TRANSPORTATION UNIFORM MITIGATION FEE (TUMF) TOLL REVENUE BONDS COACHELLA VALLEY RAIL 8 AGENDA ITEM 6B BLANK Agenda Item 6B  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM: Budget and Implementation Committee  Michele Cisneros, Deputy Director of Finance  THROUGH: Anne Mayer, Executive Director  SUBJECT: Quarterly Sales Tax Analysis     BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION:    This item is for the Commission to receive and file the sales tax analysis for Quarter 3, 2016  (3Q 2016).    BACKGROUND INFORMATION:    At its December 2007 meeting, the Commission awarded an agreement with 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, 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 630 businesses.  Through 2Q 2016, the  SBOE approved corrections for 444 of these accounts for a total sales tax recovery of $7,346,704.  Updated amounts for 3Q 2016 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 3Q 2016.  Most of the 3Q 2016 Measure A sales tax revenues were received in the fourth  quarter of calendar year 2016, during October through December 2016, due to a lag in the sales  tax calendar.  The summary section of 3Q 2016 report is attached and includes an overview of  California’s economic outlook, local results, historical cash collections analysis by quarter, top 25  sales/use tax contributors, historical sales tax amounts for the top ten segments, annual sales tax  by business category, five‐year economic trend for significant business category (auto sales ‐  new), and final results.    9 Agenda Item 6B    Taxable transactions for the top 25 tax contributors in Riverside County generated 22.8 percent  of taxable sales for the benchmark year ended 3Q 2016, slightly lower than the 23.1 percent for  the benchmark year ended 3Q 2015.  The top 100 tax contributors generated 37.8 percent  taxable sales for the benchmark year ended 3Q 2016, compared to 37.9 percent for the  benchmark year ended 3Q 2015.    In the Economic Category Analysis below, five of the six categories (general retail, food products,  construction, business to business, and miscellaneous) experienced new highs in the 3Q 2016  benchmark year compared to the prior six benchmark years.  Transportation was slightly below  the 3Q 2015 benchmark year due to continued lower fuel prices.          An analysis of sales tax performers by quarter through 3Q 2016 is attached, and illustrates fairly  consistent cycles for sales tax performance for most of the economic categories since the  economic recession in 2009.     For 7 of the top 10 segments (auto sales‐new, restaurants, department stores, miscellaneous  retail, building materials‐wholesale, apparel stores, and building materials‐retail) during the past  eight benchmark year quarters, sales tax receipts reached a new high point.  The 7 segments  represent 57 percent of total sales tax receipts.  Light industry, one of the top 10 segments  representing 4.7 percent of the total sales tax receipts for benchmark year 3Q 2016, was lower  than 2Q 2016 benchmark year due to completion of renewable energy developments in Riverside  County.  Food markets remained relatively unchanged representing 5.1 percent of the total sales  tax receipts, and service stations reached a new low point in 3Q 2016.       These top 10 segments represent 74.1 percent of the total sales tax receipts.  For the other 19  segments representing 25.9 percent of the total sales tax receipts, 13 segments representing 20.3  percent of the total sales tax receipts reached new high points in the benchmark year 3Q 2016.    In the Economic Segment Analysis below, auto sales‐new, restaurants, and department stores  represent the three largest segments for Riverside County, or 33.3 percent of total sales tax  receipts.  This is the sixteenth consecutive quarter since 3Q 2008, that department stores and  % of Total / % Change RCTC State Wide Riverside  County San  Bernardino  County Inland  Empire South Coast S.F. Bay Area Sacramento  Valley Central  Valley North Coast Central  Coast General Retail 28.8  /  3.0 28.3 / 2.0 28.7 / 4.1 25.4 / 7.5 27.0 / 5.8 29.1 / 1.2 26.6 / 0.8 27.8 / 3.4 31.0 / 3.5 28.8 / 4.6 31.4 / 0.4 Food Products 17.6  /  5.2 20.8 / 4.7 19.8 / 4.7 14.8 / 5.0 17.2 / 4.9 22.1 / 5.0 22.1 / 4.7 17.0 / 3.9 16.7 / 4.1 18.6 / 3.6 31.0 / 1.6 Transportation 25.1  /  ‐1.1 23.5 / ‐1.0 26.3 / ‐1.1 27.3 / 0.9 26.8 / ‐0.1 23.0 / ‐2.2 20.4 / ‐0.8 28.1 / 3.3 26.0 / ‐0.5 29.8 / 0.5 20.8 / ‐1.3 Construction 10.9  /  4.4 9.6 / 5.0 13.1 / 2.8 11.0 / 21.8 12.0 / 11.1 8.4 / 4.3 9.5 / 2.1 11.7 / 7.9 12.3 / 4.2 13.6 / 6.3 9.5 / 3.8 Business to Business 15.4  /  3.6 16.5 / 0.7 10.9 / 3.4 19.8 / ‐0.5 15.5 / 0.8 16.2 / ‐0.2 20.1 / 3.9 13.8 / 2.5 12.5 / ‐6.5 8.3 / ‐5.5 6.3 / ‐0.1 Miscellaneous 2.2  /  6.7 1.3 / 8.6 1.1 / 15.2 1.1 / 15.2 1.4 / 30.4 1.2 / 10.9 1.2 / ‐0.1 1.5 / ‐5.1 1.5 / 6.0 1.0 / 9.7 1.0 / ‐4.9 Total 100.0  /  2.6 100.0 / 2.0 100.0 / 2.7 100.0 / 5.4 100.0 / 4.1 100.0 / 1.3 100.0 / 2.0 100.0 / 3.7 100.0 / 1.3 100.0 / 2.5 100.0 / 0.6 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 10 Agenda Item 6B  auto sales‐new have been in the top three economic segments.  Growth seen in previous quarters  for service stations segment has been declining continuously from the high in the last five years  due to lower fuel prices, and this segment reached a new low point in 1Q 2016.  Restaurants  replaced service stations in the top three economic segments beginning in 4Q 2014.         During the review of the 3Q 2016 detailed report with MuniServices, information regarding sales  tax comparison by city and change in economic segments (two highest gains and two highest  losses) from 3Q 2016 to 3Q 2015 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 receipt trends in assessing such projections.      Attachments:  1) Sales Tax Digest Summary 3Q 2016  2) Sales Tax Performance Analysis by Quarter  3) Quarterly Sales Tax Change Comparison by City for 3Q 2016 to 3Q 2015      RCTC State Wide Riverside  County San  Bernardino  County Inland  Empire South Coast S.F. Bay Area Sacramento  Valley Central  Valley North Coast Central  Coast Largest Segment Auto Sales ‐  New Restaurants Restaurants Department  Stores Restaurants Service  Stations Restaurants Restaurants Department  Stores Auto Sales ‐  New Restaurants % of Total / % Change 11.8  /  5.2 14.8 / 5.9 12.8 / 6.5 10.2 / 3.5 11.3 / 6.4 25.2 / ‐3.8 15.8 / 5.4 16.2 / 6.1 13.6 / 1.9 11.9 / 13.0 22.6 / 1.3 2nd Largest Segment Restaurants Auto Sales ‐  New Auto Sales ‐  New Restaurants Auto Sales ‐  New Restaurants Auto Sales ‐  New Auto Sales ‐  New Auto Sales ‐  New Department  Stores  Misc. Retail % of Total / % Change 11.3  /  6.4 11.2 / 4.8 12.4 / 5.0 10.0 / 6.2 11.0 / 6.1 13.9 / 9.3 10.9 / 4.7 11.4 / 3.9 10.9 / 5.6 10.9 / 1.1 10.7 / 4.0 3rd Largest Segment Department  Stores Department  Stores Department  Stores Auto Sales ‐  New Department  Stores Food  Markets Department  Stores Department  Stores Restaurants Restaurants Auto Sales ‐  New % of Total / % Change 10.2  /  1.6 9.4 / 0.0 10.5 / 09.8 / 7.5 10.4 / 1.8 8.7 / 3.4 7.7 / ‐2.2 9.2 / ‐0.3 10.9 / 5.9 10.8 / 4.6 9.0 / 11.2 ECONOMIC SEGMENT ANALYSIS 11 BLANK Riverside County Transportation Commission Sales Tax Digest Summary Collections through December 2016 Sales through September 2016 (2016Q3) www.MuniServices.com (800) 800‐8181 Page 1 CALIFORNIA’S ECONOMIC OUTLOOK California sales tax receipts increased by 1.9% over the same quarter from the previous year, with Northern California reporting a 2.0% increase compared to 1.8% for Southern California. Receipts for the RCTC changed by 3.9% over the same periods. Employment in California continues to grow. California employed over 18.4 million workers in November, up 3% from 17.8 million in November of 2015. The unemployment rate dipped to 5.3% in November from the 5.5% rate we have had each month since July. (Bureau of Labor Statistics) Higher prices are not helping sales tax revenue. The Consumer Price Index (CPI-U) for the Western Region is up 2.3 percent in November. Big price increases in Housing up 4.6%, Household Energy up 4.7% and Medical Care up 3.2% reduce the amount of remaining disposable income available for taxable sales. (Bureau of Labor Statistics) The next recession may be more severe in California than in the rest of the country. The number of wage and salary employees in California is shrinking while the number of those whose income is dependent upon the profitability and value of their companies is growing. This could intensify a recession in California. (UCLA Andersen) LOCAL RESULTS Net Cash Receipts Analysis Local Collections $42,152,264 Share of County Pool 0.0% 0 Share of State Pool 0.0% 0 SBE Net Collections 42,152,264 Less: Amount Due County 0.0% .00 Less: Cost of Administration (501,550) Net 3Q2016 Receipts 41,650,714 Net 3Q2015 Receipts 40,077,762 Actual Percentage Change 3.9% Business Activity Performance Analysis Local Collections $42,152,264 Less: Payments for Prior Periods (1,882,793) Preliminary 3Q2016 Collections 40,269,471 Projected 3Q2016 Late Payments 1,394,420 Projected 3Q2016 Final Results 41,663,891 Actual 3Q2015 Results 40,355,132 Projected Percentage Change 3.2% ATTACHMENT 1 12 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 October 2015 to September 2016. The Top 25 Sales/Use Tax contributors generate 22.8% of RCTC’s total sales and use tax revenue. AMAZON.COM MACY’S DEPARTMENT STORE ARCO AM/PM MINI MARTS MCDONALD’S RESTAURANTS BEST BUY STORES RALPH'S GROCERY COMPANY CARMAX THE AUTO SUPERSTORE ROSS STORES CHEVRON SERVICES STATIONS SAM'S CLUB CIRCLE K FOOD STORES SHELL SERVICE STATIONS COSTCO. STATER BROS MARKETS DEPT OF MOTOR VEHICLES TARGET STORES EXXON SERVICES STATIONS USA SERVICE STATIONS HOME DEPOT VERIZON WIRELESS JACK IN THE BOX RESTAURANTS WAL MART STORES KOHL’S DEPARTMENT STORES WALGREEN'S DRUG STORES LOWE’S HOME CENTERS 13 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 September 2016, the highs, and the lows for each segment over the last two years. ANNUAL SALES TAX BY BUSINESS CATEGORY 14 Riverside County Transportation Commission www.MuniServices.com (800) 800‐8181 Page 4 FIVE-YEAR ECONOMIC TREND: Auto Sales - New FINAL RESULTS: April-June 2016 Sales Local Net Cash Collections $42,467,181 Less: Pool Amounts ($-501,550) Less: Prior Quarter Payments ($2,148,487) Add: Late Payments $1,646,344 Local Net Economic Collections after Adjustments $42,466,589 Percent Change from April-June 2015 Sales UP BY 2.3% MUNISERVICES’ ON-GOING AUDIT RESULTS This Quarter $353,998 Total to Date $7,204,199 15 RCTC 1/2%: Sales Tax Performance Analysis by QuarterTOTALConfidentialEconomicTOTAL2016Q3 QoQ %∆QoQ $∆YoY %∆YoY $∆$41,663,508 3.2% $1,308,703 2.6% $4,331,104GENERAL RETAIL2016Q3 QoQ %∆QoQ $∆YoY %∆YoY $∆$11,231,948 4.0% $435,853 3.0% $1,420,43327.0%FOOD PRODUCTS2016Q3 QoQ %∆QoQ $∆YoY %∆YoY $∆$7,027,055 4.6% $311,551 5.2% $1,486,817% of Total: 16.9%TRANSPORTATION2016Q3 QoQ %∆QoQ $∆YoY %∆YoY $∆$10,952,064-2.0% -$224,727 -1.1% -$494,686% of Total: 26.3%CONSTRUCTION2016Q3 QoQ %∆QoQ $∆YoY %∆YoY $∆$4,778,442 3.7% $168,451 4.4% $783,111% of Total: 11.5%BUSINESS TO BUSINESS2016Q3 QoQ %∆QoQ $∆YoY %∆YoY $∆$6,676,684 8.6% $528,583 3.6% $904,497% of Total: 16.0%Q4 Q1 Q2 Q3TOTALCATEGORYQoQ = 16Q3 / 15Q3 YoY = YE 16Q3 / YE 15Q3% of 2016Q3 Total:$0$2,000,000$4,000,000$6,000,000$8,000,000$10,000,000$12,000,000$14,000,000$16,000,000$0$5,000,000$10,000,000$15,000,000$20,000,000$25,000,000$30,000,000$35,000,000$40,000,000$45,000,000$50,000,0002011Q32011Q42012Q12012Q22012Q32012Q42013Q12013Q22013Q32013Q42014Q12014Q22014Q32014Q42015Q12015Q22015Q32015Q42016Q12016Q22016Q3ATTACHMENT 216 BLANK ATTACHMENT 3 17 BLANK AGENDA ITEM 6C BLANK Agenda Item 6C  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM:  Budget and Implementation Committee  Michele Cisneros, Deputy Finance Director  Megan Kavand, Senior Financial Analyst  THROUGH: Anne Mayer, Executive Director  SUBJECT: Quarterly Investment Report    BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION:    This item is for the Commission to receive and file the Quarterly Investment Report for the  quarter ended December 31, 2016.    BACKGROUND INFORMATION:    For many years and as a result of a low interest rate environment, the Commission’s quarterly  investment reports 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 (91 Project), 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 91 Project funds and to Payden & Rygel Investment Management  (Payden & Rygel) for Commission operating funds.    Logan invested the 91 Project debt proceeds during the first quarter of FY 2013/14 in the   Short‐Term Actively Managed Program (STAMP).  Payden & Rygel was authorized to make  specific investments for the Commission’s operating funds beginning with the third quarter of   FY 2014/15.  Since June 2015, the Commission funded its annual 91 Project equity contributions  approximating $67.8 million; the funds are invested by Logan in a separate STAMP account.    The quarterly investment report for the second quarter of FY 2016/17 as required by state law  and Commission policy reflects the investment activities resulting from the 91 Project and  available operating cash.  The quarterly investment report includes the following information:  18 Agenda Item 6C   Investment Portfolio Report;   STAMP Portfolio by Investment Category;    STAMP Portfolio by Account;    STAMP Portfolio Transaction Report by Account;    STAMP Portfolio Summary of investments by credit rating, industry group, asset class,  security type, and market sector;    STAMP Portfolio Toll Revenue Project Senior Lien Fund Summary of investments by credit  rating, industry group, asset class, security type, and market sector;    STAMP Portfolio Toll Revenue Project Sales Tax Revenue Fund Summary of investments  by credit rating, industry group, asset class, security type, and market sector;    STAMP Portfolio Toll Revenue Series A & Series B Reserve Fund Summary of investments  by credit rating, industry group, asset class, security type, and market sector;    STAMP Portfolio Toll Revenue Project Capitalized Interest Fund Summary of investments  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;    STAMP Portfolio Sales Tax Equity Fund Summary of investment by credit rating, industry  group, asset class, security type, and market sector;   Logan Circle Partners, L.P. Short Duration Fourth Quarter 2016 Review;    Payden & Rygel Operating Portfolio by Investment Category;   Payden & Rygel Operating Portfolio Transaction Report;   Payden & Rygel Operating Portfolio Fourth Quarter 2016 Review; and   County of Riverside Investment Report for the Quarter Ended December 31, 2016.    The Commission’s investments were in full compliance with the Commission’s investment policy  adopted on April 13, 2016, and investments securities permitted under the indenture for the  Commission’s sales tax revenue bonds and the master indenture for the Commission’s toll  revenue bonds.  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) STAMP Portfolio Sales Tax Equity Fund Summary of Investments  12) Payden & Rygel Operating Portfolio by Investment Category  13) Payden & Rygel Operating Portfolio Transaction Report  19 Agenda Item 6C  14) Logan Circle Partners, L.P. Short Duration Quarterly Review  15) Payden & Rygel Operating Portfolio Quarterly Review  16) County of Riverside Investment Report    20 BLANK Riverside County Transportation Commission Investment Portfolio Report Period Ended: December 31, 2016 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 28,828,156 A3/BBB+N/A N/A County Treasurer's Pooled Investment Fund 381,462,806 Aaa-bf/AAA/V1 N/A 0.76% Local Agency Investment Fund (LAIF)3,659,718 Not Rated N/A N/A Subtotal Operating Funds 413,950,680 FUNDS HELD IN TRUST County Treasurer's Pooled Investment Fund: Local Transportation Fund 85,474,465 Aaa-bf/AAA/V1 N/A 0.76% Subtotal Funds Held in Trust 85,474,465 COMMISSION MANAGED PORTFOLIO US Bank Payden & Rygel Operating 50,567,051 First American Government Obligation Fund 7,548,491 Aaa-mf/-/AAAm N/A N/A Subtotal Commission Managed Portfolio 58,115,543 STAMP PORTFOLIO for 91 CIP Toll Revenue Project Senior Lien Fund 9,845,875 Toll Revenue Project Sales Tax Revenue Fund 57 Series A & Series B Reserve Fund 17,642,718 Toll Revenue Project Capitalized Interest Fund 8,091,951 Sales Tax Revenue Capitalized Interest Fund 24,595,272 Sales Tax Revenue Equity Fund 57,734,448 Subtotal STAMP Portfolio 117,910,320 TOTAL All Cash and Investments 675,451,008$ 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 See attached report for details See attached report for details 2.61%1.46%4.84% 8.55%8.60% 12.65% 61.29% $- $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 STAMP Portfolio for 91 CIP Reserve STAMP Portfolio for 91 CIP Project Fund STAMP Portfolio for 91 CIP Capitalized Interest STAMP Portfolio for 91 CIP Equity Commission Managed Portfolio Trust Funds Operating Funds Nature of Investments 1.12% Mutual Funds 73.40% County Pool/Cash 0.54% LAIF 24.68% Fixed Income 0.09% Money Market Funds 0.17% Cash ATTACHMENT 1 21 BLANK Page 2 of 32 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 256350005 LC-Project Fund-Toll 2 313385AD8 Agency FHLBanks Office of Finance 01/04/2017 12/29/2016 300,000.00 299,979.50 ---299,997.00 7.25 0.000 0.073 AAA 256350001 LC-Project Fund-2 Senior Lien 313397AJ0 Agency Federal Home Loan Mortgage Corporation 01/09/2017 12/30/2016 400,000.00 399,950.56 ---399,976.00 15.55 0.000 0.220 AAA 256350023 LC-Sr Lien Reserve Fund-1 3135G0D75 Agency Federal National Mortgage Association 06/22/2020 05/06/2015 600,000.00 593,490.00 ---597,204.00 1,679.09 1.500 1.638 AAA 256350001 LC-Project Fund-2 Senior Lien 313385AV8 Agency FHLBanks Office of Finance 01/20/2017 12/30/2016 300,000.00 299,916.00 ---299,946.00 22.00 0.000 0.314 AAA 256350001 LC-Project Fund-2 Senior Lien 313385AD8 Agency FHLBanks Office of Finance 01/04/2017 12/30/2016 1,000,000.00 999,945.28 ---999,990.00 22.83 0.000 0.073 AAA 256350005 LC-Project Fund-Toll 2 3133EECD0 Agency Farm Credit Banks Consolidated Systemwide Bonds And Discount Notes 06/20/2017 06/15/2015 500,000.00 500,308.15 ---500,325.00 253.73 0.769 0.664 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137EADR7 Agency Federal Home Loan Mortgage Corporation 05/01/2020 05/15/2015 475,000.00 471,527.75 ---471,318.75 (1,317.95) 1.375 1.614 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 Agency Federal Home Loan Mortgage Corporation 01/13/2022 ---950,000.00 942,921.50 ---965,589.50 15,948.28 2.375 2.030 AAA 256350001 LC-Project Fund-2 Senior Lien 313385AF3 Agency FHLBanks Office of Finance 01/06/2017 ---850,000.00 849,917.85 ---849,974.50 29.71 0.000 0.157 AAA 256350001 LC-Project Fund-2 Senior Lien 313385AT3 Agency FHLBanks Office of Finance 01/18/2017 12/30/2016 300,000.00 299,924.00 ---299,952.00 20.00 0.000 0.308 AAA 256350001 LC-Project Fund-2 Senior Lien 313385AN6 Agency FHLBanks Office of Finance 01/13/2017 12/30/2016 825,000.00 824,856.60 ---824,909.25 32.17 0.000 0.288 AAA 256350005 LC-Project Fund-Toll 2 313397AD3 Agency Federal Home Loan Mortgage Corporation 01/04/2017 12/29/2016 450,000.00 449,971.88 ---449,995.50 12.37 0.000 0.073 AAA 205091001 LC-2013 A Capitalized Interest 31392HWL3 Agency CMO Federal National Mortgage Association 02/25/2018 07/12/2013 11,240.53 11,865.79 ---11,429.93 29.89 5.000 0.742 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AJMF8 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2021 08/05/2015 30,000.00 31,038.28 ---30,909.30 114.42 2.968 2.237 AAA 205091001 LC-2013 A Capitalized Interest 31392F6C6 Agency CMO Federal National Mortgage Association 12/25/2017 07/09/2013 62,300.24 66,086.92 ---63,036.01 (101.36) 5.000 1.131 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377JZ89 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 10/20/2039 07/05/2013 98,167.11 101,169.64 ---100,772.46 511.31 3.500 2.175 AAA 205091001 LC-2013 A Capitalized Interest 31393EXC8 Agency CMO Federal National Mortgage Association 09/25/2018 07/24/2013 118,045.94 124,796.70 ---121,141.10 775.53 4.500 0.019 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 31393EXC8 Agency CMO Federal National Mortgage Association 09/25/2018 07/24/2013 13,116.22 13,866.30 ---13,460.12 86.17 4.500 0.019 AAA 256350005 LC-Project Fund-Toll 2 3137AH6Q6 Agency CMO Federal Home Loan Mortgage Corporation 08/25/2018 06/24/2016 468,155.93 479,786.69 ---473,993.84 (2,748.30) 2.412 1.455 AAA 256350023 LC-Sr Lien Reserve Fund-1 31392JJ83 Agency CMO Federal National Mortgage Association 03/25/2018 07/08/2013 8,384.74 8,845.90 ---8,508.07 6.69 5.000 1.250 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376GB33 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 10/16/2044 01/23/2015 316,320.69 324,692.20 ---320,040.62 (3,672.95) 3.500 2.248 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AUPE3 Agency CMO Federal Home Loan Mortgage Corporation 06/25/2022 ---379,000.00 366,344.03 ---379,958.87 8,536.55 2.396 2.325 AAA 256350005 LC-Project Fund-Toll 2 38378BR35 Agency CMO Government National Mortgage Association 11/16/2042 07/10/2015 329,348.44 321,938.10 ---318,558.99 (3,575.46) 1.333 2.061 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378CRT6 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 10/20/2040 05/22/2014 85,600.51 82,657.99 ---84,824.97 1,808.05 2.000 2.296 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376T5Z1 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 01/16/2039 01/26/2015 128,091.10 133,823.18 ---131,639.23 (1,400.25) 3.000 2.092 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377RSZ9 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 06/16/2039 01/21/2015 36,011.60 38,165.42 ---37,278.49 (483.96) 4.500 1.300 AAA 256350005 LC-Project Fund-Toll 2 3137A85H7 Agency CMO Federal Home Loan Mortgage Corporation 12/15/2039 07/13/2015 112,093.89 116,857.87 ---115,813.16 (838.47) 3.500 2.043 AAA 256350005 LC-Project Fund-Toll 2 3137A1LC5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2020 08/31/2015 61,835.19 62,820.69 ---62,254.43 (294.50) 2.000 1.372 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 3136A4M89 Agency CMO Federal National Mortgage Association 01/25/2019 07/05/2013 138,489.22 139,371.01 ---138,914.38 205.73 1.934 1.793 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378BX20 Agency CMO Government National Mortgage Association 06/16/2051 03/17/2015 56,459.22 55,203.41 ---54,408.62 (773.03) 1.240 2.008 AAA 256350023 LC-Sr Lien Reserve Fund-1 38380AZ34 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 04/20/2046 11/28/2016 174,496.23 179,372.14 ---177,875.43 (2,016.89) 3.000 2.624 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378B7E3 Agency CMO Government National Mortgage Association 05/16/2046 ---286,665.84 276,780.70 ---271,710.49 (5,404.18) 1.744 2.691 AAA 256350005 LC-Project Fund-Toll 2 3133XY2H7 Agency CMO FHLBanks Office of Finance 04/20/2017 07/13/2015 217,945.73 223,871.14 ---219,303.54 77.48 2.900 0.858 AA 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 04/20/2039 ---146,940.68 151,084.86 ---150,712.65 693.38 3.000 2.063 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137ASNH3 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2021 07/03/2013 288,215.94 281,652.27 ---285,290.55 842.17 1.459 1.889 AAA 256350023 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 ---395,983.55 13,716.81 2.482 2.473 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 3137ASNH3 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2021 08/15/2013 288,215.94 280,650.27 ---285,290.55 1,480.08 1.459 1.889 AAA 205091001 LC-2013 A Capitalized Interest 31392FPP6 Agency CMO Federal National Mortgage Association 11/25/2017 07/15/2013 36,656.58 38,821.61 ---37,045.14 (70.99) 5.000 1.201 AAA 256350005 LC-Project Fund-Toll 2 31394GH22 Agency CMO Federal Home Loan Mortgage Corporation 07/15/2018 07/20/2015 53,774.23 55,740.35 ---54,703.99 (50.87) 4.500 0.906 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378B7F0 Agency CMO Government National Mortgage Association 12/16/2042 ---450,000.00 427,324.22 ---434,479.50 6,090.84 2.273 2.891 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376WA62 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 10/20/2039 01/21/2015 89,796.54 94,276.39 ---95,354.94 684.17 4.000 1.467 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378TAF7 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 07/20/2041 07/05/2013 192,218.07 192,247.05 ---194,903.36 2,810.40 2.500 2.063 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 31393V2T7 Agency CMO Federal Home Loan Mortgage Corporation 06/15/2018 07/08/2013 65,265.32 69,028.27 ---66,800.36 288.48 4.500 0.140 AAA 205091001 LC-2013 A Capitalized Interest 31393V2T7 Agency CMO Federal Home Loan Mortgage Corporation 06/15/2018 07/08/2013 214,882.57 227,271.89 ---219,936.61 949.81 4.500 0.140 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137ATRW4 Agency CMO Federal Home Loan Mortgage Corporation 05/25/2022 12/21/2016 125,000.00 124,804.69 ---125,220.00 414.95 2.373 2.317 AAA 256350005 LC-Project Fund-Toll 2 3136A2HB2 Agency CMO Federal National Mortgage Association 03/25/2040 08/17/2016 518,671.08 529,692.84 ---516,373.36 (13,196.00) 2.250 2.340 AAA 256350023 LC-Sr Lien Reserve Fund-1 31395EZP5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2019 07/09/2013 46,687.26 49,393.66 ---47,976.76 98.93 4.500 1.081 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KXW4 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 02/16/2037 12/11/2014 187,936.47 187,026.16 ---185,130.58 (1,962.32) 1.705 2.145 AAA 256350005 LC-Project Fund-Toll 2 36225FGM5 Agency MBS Ginnie Mae II 08/20/2041 08/06/2015 0.00 0.01 ---- (0.01) 2.125 1.707 AAA 256350005 LC-Project Fund-Toll 2 3138ELY64 Agency MBS Federal National Mortgage Association/Fannie Mae 02/01/2023 07/07/2016 201,566.78 221,660.46 ---218,069.05 (2,607.18) 6.000 1.595 AAA 256350023 LC-Sr Lien Reserve Fund-1 31413XVG5 Agency MBS Federal National Mortgage Association 06/01/2019 08/04/2014 200,000.00 218,500.00 ---203,028.00 (6,213.65) 4.506 3.770 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138L76A9 Agency MBS Federal National Mortgage Association/Fannie Mae 11/01/2021 10/04/2016 125,000.00 129,511.72 ---126,515.00 (2,789.84) 2.590 2.286 AAA 256350023 LC-Sr Lien Reserve Fund-1 38379KDN5 Agency MBS Government National Mortgage Association 09/16/2055 08/05/2015 184,517.28 179,803.43 ---178,481.72 (1,698.68) 2.103 2.607 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136A4M48 Agency MBS Federal National Mortgage Association 01/25/2022 07/05/2013 304,118.99 304,974.32 ---304,389.65 1.51 2.098 2.048 AAA 256350005 LC-Project Fund-Toll 2 38378NNA7 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 05/16/2038 06/26/2015 459,169.22 462,308.07 ---458,746.79 (3,320.04) 2.250 2.195 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381PEB0 Agency MBS Federal National Mortgage Association 11/01/2020 09/26/2014 260,287.58 274,074.69 ---272,992.22 4,168.87 3.370 1.949 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KRS0 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 07/16/2043 05/08/2015 450,000.00 434,460.94 ---436,653.00 1,431.16 2.389 2.742 AAA STAMP Portfolio by Investment Category for quarter ended December 31, 2016 ATTACHMENT 2 22 Page 3 of 32 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 December 31, 2016 256350023 LC-Sr Lien Reserve Fund-1 38378KWU9 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 11/16/2041 ---81,643.04 79,725.84 ---78,541.42 (1,281.84) 1.400 2.465 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378XP62 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 05/16/2055 05/14/2015 384,307.02 389,050.81 ---379,510.86 (9,237.67) 2.500 2.673 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138EKXL4 Agency MBS Federal National Mortgage Association/Fannie Mae 03/01/2023 12/21/2016 291,984.66 288,699.84 ---292,072.26 3,393.79 2.356 2.331 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137B1U75 Agency MBS Federal Home Loan Mortgage Corporation 01/25/2023 08/29/2016 380,000.00 394,917.97 ---380,364.80 (13,696.22) 2.522 2.483 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381T4E7 Agency MBS Federal National Mortgage Association/Fannie Mae 03/01/2022 10/25/2016 274,151.50 286,434.78 ---278,705.16 (7,367.80) 2.670 2.283 AAA 256350023 LC-Sr Lien Reserve Fund-1 31404WTT3 Agency MBS Federal National Mortgage Association 05/01/2019 12/31/2013 0.01 0.01 ---0.01 (0.00) 4.500 1.489 AAA 256350023 LC-Sr Lien Reserve Fund-1 31417YKF3 Agency MBS Federal National Mortgage Association 01/01/2030 07/10/2013 109,244.49 115,252.93 ---117,497.91 2,220.70 4.500 2.393 AAA 256350023 LC-Sr Lien Reserve Fund-1 31385XBG1 Agency MBS Federal National Mortgage Association 03/01/2018 09/13/2013 2,414.54 2,571.48 ---2,427.62 (7.58) 6.000 1.924 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 31402RBG3 Agency MBS Federal National Mortgage Association 09/01/2019 ---17,623.74 18,904.06 ---18,100.99 (110.34) 6.000 1.839 AAA 205091001 LC-2013 A Capitalized Interest 31402RBG3 Agency MBS Federal National Mortgage Association 09/01/2019 ---60,270.64 64,642.93 ---61,902.77 (375.37) 6.000 1.839 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 31385JLF3 Agency MBS Federal National Mortgage Association 08/01/2017 09/18/2013 20,832.00 22,238.16 ---20,950.74 (74.45) 6.000 1.802 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KSL4 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass-Through Securities 12/16/2046 ---425,000.00 415,829.11 ---406,448.75 (9,599.75) 2.785 3.011 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138EJPZ5 Agency MBS Federal National Mortgage Association 07/01/2022 08/29/2016 337,153.97 358,107.56 ---348,010.33 (8,741.66) 2.973 2.090 AAA 256350005 LC-Project Fund-Toll 2 36225EUY6 Agency MBS Ginnie Mae II 09/20/2039 09/17/2015 86,204.86 88,656.32 ---88,787.56 263.68 2.125 1.172 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138L33G8 Agency MBS Federal National Mortgage Association/Fannie Mae 06/01/2020 11/12/2015 100,000.00 99,875.00 ---100,184.00 332.09 2.010 1.923 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381Q6B7 Agency MBS Federal National Mortgage Association/Fannie Mae 06/01/2021 07/15/2016 190,238.67 210,986.58 ---205,743.12 (3,400.65) 4.295 2.231 AAA 205091001 LC-2013 A Capitalized Interest 31410GSQ7 Agency MBS Federal National Mortgage Association 12/01/2017 07/05/2013 24,323.91 26,117.80 ---24,563.99 (118.27) 6.000 2.014 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378B6A2 Agency MBS Government National Mortgage Association 11/16/2052 01/22/2015 130,179.62 126,075.90 ---125,564.75 (533.66) 1.826 2.693 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136A7MN9 Agency MBS Federal National Mortgage Association 05/25/2022 08/29/2016 300,000.00 308,578.13 ---296,244.00 (11,826.83) 2.349 2.487 AAA 205091001 LC-2013 A Capitalized Interest 36200AFG9 Agency MBS Government National Mortgage Association 11/15/2017 07/09/2013 7,919.89 8,439.63 ---7,997.19 (49.31) 5.500 2.180 AAA 205091001 LC-2013 A Capitalized Interest 3128MBTH0 Agency MBS Federal Home Loan Mortgage Corporation 03/01/2019 07/26/2013 41,932.00 44,447.92 ---42,959.33 73.05 5.000 1.141 AAA 256350023 LC-Sr Lien Reserve Fund-1 36202F2H8 Agency MBS Ginnie Mae II 01/20/2027 11/14/2016 237,469.41 246,448.73 ---245,184.80 (1,308.75) 3.000 2.047 AAA 205091001 LC-2013 A Capitalized Interest 36290WH47 Agency MBS Government National Mortgage Association 09/15/2018 07/18/2013 384,191.03 408,202.98 ---392,566.39 (866.86) 4.500 1.082 AAA 205091001 LC-2013 A Capitalized Interest 3128H4NR6 Agency MBS Federal Home Loan Mortgage Corporation 05/01/2018 07/16/2013 26,718.03 28,304.41 ---27,372.62 158.57 5.000 0.152 AAA 205091001 LC-2013 A Capitalized Interest 31402QT68 Agency MBS Federal National Mortgage Association 10/01/2019 07/11/2013 84,454.50 91,237.25 ---87,285.41 (665.35) 6.000 1.893 AAA 205091001 LC-2013 A Capitalized Interest 3128PGLY7 Agency MBS Federal Home Loan Mortgage Corporation 05/01/2017 07/17/2013 22,713.99 23,934.86 ---23,270.48 442.09 5.000 -10.643 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136AHAE0 Agency MBS Federal National Mortgage Association/Fannie Mae 04/25/2023 10/28/2016 235,396.90 240,472.65 ---232,715.73 (7,638.62) 2.505 2.605 AAA 256350023 LC-Sr Lien Reserve Fund-1 3128MMAK9 Agency MBS Federal Home Loan Mortgage Corporation 09/01/2019 07/08/2013 0.01 0.01 ---0.01 (0.00) 5.000 1.663 AAA 205091001 LC-2013 A Capitalized Interest 31401MWC1 Agency MBS Federal National Mortgage Association 06/01/2018 07/12/2013 267,363.80 285,076.66 ---274,783.15 2,312.68 4.500 -0.235 AAA 205091001 LC-2013 A Capitalized Interest 3128PHVS7 Agency MBS Federal Home Loan Mortgage Corporation 11/01/2019 07/16/2013 18,685.53 19,689.88 ---19,143.33 123.00 5.000 -0.189 AAA 205091001 LC-2013 A Capitalized Interest 3132FEAK7 Agency MBS Federal Home Loan Mortgage Corporation 12/01/2017 07/03/2013 37,725.08 39,976.80 ---38,649.35 343.70 5.000 -1.615 AAA 256350005 LC-Project Fund-Toll 2 55315FAB6 Asset Backed MMAF EQUIPMENT FINANCE LLC 12/17/2018 05/03/2016 275,000.00 274,996.84 ---275,099.00 100.40 1.390 1.325 AAA 256350005 LC-Project Fund-Toll 2 47787UAD5 Asset Backed John Deere Owner Trust 2015 06/17/2019 ---600,000.00 600,819.73 ---600,150.00 (264.27) 1.320 1.280 AAA 256350005 LC-Project Fund-Toll 2 161571FK5 Asset Backed Chase Issuance Trust 08/16/2021 12/10/2015 150,000.00 148,359.38 ---149,020.50 204.77 1.580 1.842 AAA 256350005 LC-Project Fund-Toll 2 02582JGG9 Asset Backed American Express Credit Account Master Trust 05/17/2021 02/26/2016 300,000.00 300,468.75 ---300,921.00 188.64 1.124 1.023 AAA 256350005 LC-Project Fund-Toll 2 36159LBW5 Asset Backed GE Dealer Floorplan Master Not 04/22/2019 ---500,000.00 501,164.06 ---500,575.00 86.19 1.489 1.167 AAA 256350005 LC-Project Fund-Toll 2 65478QAD0 Asset Backed Nissan Auto Lease Trust 2016-A 03/15/2019 05/17/2016 155,000.00 154,992.99 ---155,106.95 111.87 1.490 1.444 AAA 256350005 LC-Project Fund-Toll 2 58769AAD8 Asset Backed Mercedes-Benz Auto Lease Trust 2015-B 07/16/2018 ---600,000.00 600,906.74 ---600,456.00 (36.88) 1.340 1.220 AAA 256350005 LC-Project Fund-Toll 2 90290KAD7 Asset Backed USAA Auto Owner Trust 2014-1 05/15/2019 06/12/2015 337,501.27 336,736.62 ---337,406.77 127.27 0.940 0.996 AAA 256350005 LC-Project Fund-Toll 2 43814KAC5 Asset Backed Honda Auto Receivables 2015-1 Owner Trust 10/15/2018 06/02/2016 440,159.61 440,228.39 ---439,904.32 (297.26) 1.050 1.162 AAA 256350005 LC-Project Fund-Toll 2 161571HB3 Asset Backed Chase Issuance Trust 05/17/2021 06/07/2016 500,000.00 500,878.91 ---501,560.00 370.35 1.114 1.051 AAA 256350005 LC-Project Fund-Toll 2 05582XAD4 Asset Backed BMW VEHICLE LEASE TRUST 09/20/2019 10/04/2016 545,000.00 544,927.95 ---545,223.45 287.21 1.430 1.410 AAA 256350005 LC-Project Fund-Toll 2 58772PAC2 Asset Backed Mercedes-Benz Auto Receivables Trust 2015-1 06/15/2018 08/04/2015 0.01 0.01 ---0.01 - 0.974 1.014 AAA 256350005 LC-Project Fund-Toll 2 58768MAD3 Asset Backed MERCEDES-BENZ AUTO LEASE TRUST 06/15/2022 10/18/2016 190,000.00 189,983.00 ---188,708.00 (1,276.34) 1.520 1.869 AAA 256350005 LC-Project Fund-Toll 2 161571GQ1 Asset Backed Chase Issuance Trust 11/15/2019 10/28/2015 120,000.00 120,510.94 ---120,104.40 (115.64) 1.380 1.283 AAA 256350005 LC-Project Fund-Toll 2 36159LCR5 Asset Backed GE Dealer Floorplan Master Not 01/20/2020 06/07/2016 110,000.00 109,759.38 ---110,162.80 226.41 1.239 1.142 AAA 256350005 LC-Project Fund-Toll 2 477877AD6 Asset Backed John Deere Owner Trust 2014-B 11/15/2018 ---280,998.31 280,978.55 ---280,978.64 (6.58) 1.070 1.088 AAA 256350005 LC-Project Fund-Toll 2 60689LAC9 Asset Backed MMAF EQUIPMENT FINANCE LLC 12/11/2017 08/05/2015 4,508.72 4,510.84 ---4,508.32 (0.48) 1.030 1.394 AAA 256350005 LC-Project Fund-Toll 2 65474VAL5 Asset Backed Nissan Master Owner Trust Receivables 06/15/2021 07/12/2016 225,000.00 224,967.96 ---223,575.75 (1,402.13) 1.540 1.810 AAA 256350005 LC-Project Fund-Toll 2 55315GAC2 Asset Backed MMAF EQUIPMENT FINANCE LLC 10/16/2019 ---271,935.58 271,049.32 ---271,473.28 (91.94) 1.390 1.610 AAA 256350005 LC-Project Fund-Toll 2 62888WAA4 CMO NATIONAL CREDIT UNION ADMINISTRATION GUARANTEED NOTES TRUST 12/08/2020 ---475,510.62 477,394.95 ---476,775.48 (379.14) 1.079 1.280 AAA 256350005 LC-Project Fund-Toll 2 62888YAA0 CMO NCUA Guaranteed Notes Trust 2011-R1 01/08/2020 07/14/2015 180,371.16 181,244.83 ---180,730.10 (229.22) 0.969 1.280 AAA 256350001 LC-Project Fund-2 Senior Lien 06538BN58 CP The Bank of Tokyo-Mitsubishi UFJ, Ltd.01/05/2017 12/29/2016 1,000,000.00 999,873.61 ---999,960.00 32.22 0.000 0.288 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 43357LND0 CP Hitachi Capital America Corp.01/13/2017 12/20/2016 200,000.00 199,863.11 ---199,960.00 34.67 0.000 0.555 AA 256350001 LC-Project Fund-2 Senior Lien 06538BNH2 CP The Bank of Tokyo-Mitsubishi UFJ, Ltd.01/17/2017 10/17/2016 1,000,000.00 997,827.78 ---999,720.00 97.78 0.000 0.594 AAA 256350005 LC-Project Fund-Toll 2 83700ENK0 CP South Carolina Electric & Gas Company 01/19/2017 12/20/2016 3,100,000.00 3,097,588.88 ---3,099,008.00 558.01 0.000 0.607 AA 256350001 LC-Project Fund-2 Senior Lien 22533TNH5 CP Credit Agricole Corporate and Investment Bank 01/17/2017 10/17/2016 1,000,000.00 997,776.67 ---999,720.00 106.67 0.000 0.594 AAA 256350005 LC-Project Fund-Toll 2 71112JN42 CP The Peoples Gas Light And Coke Company 01/04/2017 12/21/2016 725,000.00 724,743.84 ---724,985.50 49.54 0.000 0.180 AAA 256350001 LC-Project Fund-2 Senior Lien 63873JNH9 CP Natixis 01/17/2017 10/17/2016 1,000,000.00 997,725.00 ---999,720.00 120.00 0.000 0.594 AAA 256350001 LC-Project Fund-2 Senior Lien 46640PNL3 CP J.P. Morgan Securities LLC 01/20/2017 10/19/2016 810,000.00 808,034.40 ---809,724.60 135.00 0.000 0.613 AAA 256350005 LC-Project Fund-Toll 2 43357LND0 CP Hitachi Capital America Corp.01/13/2017 12/20/2016 3,500,000.00 3,497,604.46 ---3,499,300.00 606.66 0.000 0.555 AA 256350005 LC-Project Fund-Toll 2 06538BN58 CP The Bank of Tokyo-Mitsubishi UFJ, Ltd.01/05/2017 12/29/2016 3,500,000.00 3,499,557.64 ---3,499,860.00 112.78 0.000 0.288 AAA 256350001 LC-Project Fund-2 Senior Lien 74433GNB8 CP Prudential Funding LLC 01/11/2017 10/18/2016 1,000,000.00 998,250.00 ---999,840.00 48.33 0.000 0.524 AAA 205091001 LC-2013 A Capitalized Interest 037833AJ9 Corporate Apple Inc.05/03/2018 06/17/2015 3,000,000.00 2,960,430.00 ---2,988,750.00 7,419.59 1.000 1.283 AA 256350022 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 ---309,216.00 5,348.42 6.250 1.614 A 256350005 LC-Project Fund-Toll 2 865622CB8 Corporate Sumitomo Mitsui Banking Corporation 01/18/2019 01/13/2016 250,000.00 250,000.00 ---251,330.00 1,330.00 1.822 1.680 A 256350005 LC-Project Fund-Toll 2 94988J5E3 Corporate Wells Fargo Bank, National Association 05/24/2019 08/03/2016 255,000.00 255,731.85 ---255,851.70 233.82 1.530 1.465 AA 23 Page 4 of 32 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 December 31, 2016 256350005 LC-Project Fund-Toll 2 22546QAM9 Corporate Credit Suisse AG 05/26/2017 ---555,000.00 554,149.80 ---555,427.35 690.47 1.427 1.350 A 256350022 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 ---299,829.00 1,406.63 1.375 1.442 A 256350005 LC-Project Fund-Toll 2 26442CAD6 Corporate Duke Energy Carolinas, LLC 04/15/2018 06/11/2015 116,000.00 127,422.52 ---121,222.32 (26.53) 5.100 1.564 AA 256350022 LC-Sr Lien Ob Fund-1 Interest 166764AE0 Corporate Chevron Corporation 06/24/2018 06/17/2015 300,000.00 301,848.00 43,244.00 300,918.00 25.23 1.718 1.497 AA 256350005 LC-Project Fund-Toll 2 89352HAP4 Corporate TransCanada PipeLines Limited 01/12/2018 02/03/2016 150,000.00 146,716.50 ---150,585.00 2,341.18 1.664 1.418 A 256350022 LC-Sr Lien Ob Fund-1 Interest 891145TN4 Corporate The Toronto-Dominion Bank 03/13/2017 05/21/2015 700,000.00 707,168.00 ---700,546.00 (242.46) 1.500 1.110 AAA 205091001 LC-2013 A Capitalized Interest 084664BE0 Corporate Berkshire Hathaway Finance Corporation 05/15/2018 06/17/2015 800,000.00 890,632.00 ---841,952.00 (1,360.82) 5.400 1.530 AA 256350005 LC-Project Fund-Toll 2 05531FAP8 Corporate BB&T Corporation 06/15/2018 ---380,000.00 381,823.60 43,235.00 382,109.00 822.25 1.823 1.463 A 256350022 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 ---309,594.00 1,953.27 6.000 1.702 A 256350005 LC-Project Fund-Toll 2 74153WCE7 Corporate Pricoa Global Funding I 08/18/2017 ---500,000.00 499,977.00 ---500,260.00 114.74 1.350 1.267 AA 256350022 LC-Sr Lien Ob Fund-1 Interest 89236TAY1 Corporate Toyota Motor Credit Corporation 10/24/2018 06/17/2015 500,000.00 505,870.00 ---502,960.00 (264.10) 2.000 1.667 AA 205091001 LC-2013 A Capitalized Interest 89236TAY1 Corporate Toyota Motor Credit Corporation 10/24/2018 06/17/2015 2,000,000.00 2,023,480.00 ---2,011,840.00 (1,056.41) 2.000 1.667 AA 256350005 LC-Project Fund-Toll 2 06416CAA6 Corporate The Bank of Nova Scotia 09/11/2019 06/29/2016 425,000.00 434,974.75 ---427,163.25 (6,304.76) 2.125 1.930 AAA 256350005 LC-Project Fund-Toll 2 06050TLY6 Corporate Bank of America, National Association 03/26/2018 06/10/2015 300,000.00 298,968.00 ---300,279.00 741.13 1.650 1.573 A 256350001 LC-Project Fund-2 Senior Lien 91324PCJ9 Corporate UnitedHealth Group Incorporated 01/17/2017 08/03/2015 290,000.00 290,222.43 ---290,049.30 42.59 1.330 0.987 A 256350005 LC-Project Fund-Toll 2 69353RET1 Corporate PNC Realty Investors, Inc.11/05/2018 ---600,000.00 606,243.00 43,379.00 601,092.00 (3,957.26) 1.800 1.695 A 256350005 LC-Project Fund-Toll 2 037833BR0 Corporate Apple Inc.02/22/2019 ---450,000.00 454,432.50 ---456,214.50 2,713.27 1.740 1.184 AA 256350022 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 ---257,727.50 1,169.52 6.000 1.557 A 256350005 LC-Project Fund-Toll 2 91159HHD5 Corporate U.S. Bancorp 05/15/2017 ---550,000.00 554,566.00 42,840.00 550,786.50 (164.92) 1.650 1.156 A 256350005 LC-Project Fund-Toll 2 46623EKD0 Corporate JPMorgan Chase & Co.03/01/2018 ---730,000.00 729,894.80 43,132.00 729,934.30 (170.94) 1.700 1.707 A 256350005 LC-Project Fund-Toll 2 891145W59 Corporate The Toronto-Dominion Bank 09/25/2019 08/16/2016 450,000.00 461,686.50 ---453,582.00 (6,734.13) 2.250 1.949 AAA 256350005 LC-Project Fund-Toll 2 06367XF30 Corporate Bank of Montreal 06/15/2021 08/17/2016 500,000.00 500,975.00 ---486,685.00 (14,223.69) 1.750 2.383 AAA 256350005 LC-Project Fund-Toll 2 89837LAA3 Corporate The Trustees of Princeton University 03/01/2019 ---255,000.00 281,113.75 ---272,189.55 (186.97) 4.950 1.768 AAA 256350005 LC-Project Fund-Toll 2 74256LAT6 Corporate Principal Life Global Funding II 12/01/2017 08/22/2016 360,000.00 361,533.60 ---361,454.40 348.09 1.431 1.080 A 256350005 LC-Project Fund-Toll 2 61747YDT9 Corporate Morgan Stanley 03/22/2017 06/08/2016 300,000.00 308,265.00 ---302,259.00 (103.03) 4.750 1.415 A 256350005 LC-Project Fund-Toll 2 06050TKX9 Corporate Bank of America, National Association 06/15/2017 ---505,000.00 501,876.55 ---504,722.25 835.91 1.263 1.442 A 256350005 LC-Project Fund-Toll 2 89114QBF4 Corporate The Toronto-Dominion Bank 01/22/2019 ---525,000.00 528,126.80 ---529,305.00 1,856.38 1.722 1.443 AA 256350005 LC-Project Fund-Toll 2 05531FAQ6 Corporate BB&T Corporation 02/01/2019 08/23/2016 200,000.00 204,374.00 43,467.00 201,558.00 (2,179.59) 2.250 1.852 A 205091001 LC-2013 A Capitalized Interest 30231GAL6 Corporate Exxon Mobil Corporation 03/06/2018 06/10/2015 580,000.00 579,344.60 ---579,860.80 145.32 1.305 1.325 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 30231GAL6 Corporate Exxon Mobil Corporation 03/06/2018 06/10/2015 420,000.00 419,525.40 ---419,899.20 105.23 1.305 1.325 AAA 256350005 LC-Project Fund-Toll 2 55279HAH3 Corporate Manufacturers and Traders Trust Company 07/25/2017 ---550,000.00 549,163.10 ---550,423.50 696.07 1.182 1.180 A 256350022 LC-Sr Lien Ob Fund-1 Interest 94974BGF1 Corporate Wells Fargo & Company 01/30/2020 06/03/2015 600,000.00 594,924.00 ---597,168.00 588.40 2.150 2.309 A 256350005 LC-Project Fund-Toll 2 94988J5B9 Corporate Wells Fargo Bank, National Association 01/22/2018 ---500,000.00 501,314.25 ---502,435.00 1,583.51 1.622 1.291 AA 256350005 LC-Project Fund-Toll 2 202795HU7 Corporate Commonwealth Edison Company 03/15/2018 08/05/2016 255,000.00 273,819.00 ---267,778.05 (1,410.11) 5.800 1.594 A 256350005 LC-Project Fund-Toll 2 94974BGR5 Corporate Wells Fargo & Company 12/07/2020 07/12/2016 440,000.00 453,314.40 ---440,501.60 (11,462.35) 2.550 2.519 A 205091001 LC-2013 A Capitalized Interest 89153VAC3 Corporate Total Capital International 06/28/2017 07/08/2013 160,000.00 157,765.60 ---160,264.00 548.80 1.550 1.214 AA 256350022 LC-Sr Lien Ob Fund-1 Interest 46625HJL5 Corporate JPMorgan Chase & Co.05/15/2018 06/03/2015 500,000.00 497,550.00 ---499,360.00 518.02 1.625 1.719 A 256350005 LC-Project Fund-Toll 2 38147MAA3 Corporate The Goldman Sachs Group, Inc.07/19/2018 12/02/2015 100,000.00 102,578.00 ---101,381.00 (160.81) 2.900 1.992 A 256350005 LC-Project Fund-Toll 2 46849LSL6 Corporate Jackson National Life Global Funding 10/15/2018 ---650,000.00 655,151.00 ---651,345.50 (2,748.22) 1.875 1.757 AA 256350005 LC-Project Fund-Toll 2 209111ET6 Corporate Consolidated Edison Company of New York, Inc.04/01/2018 06/22/2015 220,000.00 245,828.00 ---231,530.20 (244.15) 5.850 1.605 A 256350005 LC-Project Fund-Toll 2 31677QAV1 Corporate Fifth Third Bank 02/28/2018 06/08/2016 400,000.00 400,544.00 43,128.00 399,088.00 (1,274.91) 1.450 1.648 A 256350005 LC-Project Fund-Toll 2 063679ZT4 Corporate Bank of Montreal 01/30/2017 06/12/2015 300,000.00 304,620.00 ---300,183.00 (43.12) 1.950 1.207 AAA 256350005 LC-Project Fund-Toll 2 0258M0DZ9 Corporate American Express Credit Corporation 11/05/2018 ---450,000.00 453,007.50 43,378.00 450,652.50 (1,640.60) 1.875 1.791 A 256350005 LC-Project Fund-Toll 2 233851CF9 Corporate Daimler Finance North America LLC 07/05/2019 06/30/2016 370,000.00 369,448.70 ---364,035.60 (5,500.79) 1.500 2.162 A 256350005 LC-Project Fund-Toll 2 55279HAA8 Corporate Manufacturers and Traders Trust Company 03/07/2018 06/06/2016 400,000.00 400,012.00 43,136.00 399,464.00 (546.18) 1.450 1.564 A 256350005 LC-Project Fund-Toll 2 59217GAY5 Corporate Metropolitan Life Global Funding I 01/10/2018 ---550,000.00 550,406.00 ---550,088.00 (260.80) 1.500 1.484 AA 256350005 LC-Project Fund-Toll 2 80851QDA9 Corporate The Charles Schwab Corporation 09/01/2017 10/27/2015 65,000.00 71,075.55 ---67,171.00 (37.71) 6.375 1.343 A 256350022 LC-Sr Lien Ob Fund-1 Interest 78011DAC8 Corporate Royal Bank of Canada 09/19/2017 05/21/2015 700,000.00 700,763.00 ---699,062.00 (1,176.22) 1.200 1.387 AAA 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 ---403,272.00 205.09 5.200 1.574 AA 256350005 LC-Project Fund-Toll 2 780082AA1 Corporate Royal Bank of Canada 02/05/2020 06/24/2016 990,000.00 1,002,941.55 ---985,129.20 (16,042.82) 1.875 2.039 AAA 256350005 LC-Project Fund-Toll 2 46625HJF8 Corporate JPMorgan Chase & Co.01/25/2018 08/03/2016 265,000.00 266,831.15 ---266,733.10 401.67 1.782 1.299 A 256350005 LC-Project Fund-Toll 2 842434CN0 Corporate Southern California Gas Company 06/15/2018 06/15/2015 250,000.00 249,992.50 ---250,187.50 191.25 1.550 1.498 AA 256350005 LC-Project Fund-Toll 2 48121CYK6 Corporate JPMorgan Chase Bank, National Association 10/01/2017 03/09/2016 250,000.00 265,022.50 ---257,995.00 685.49 6.000 1.702 A 256350005 LC-Project Fund-Toll 2 6174467V5 Corporate Morgan Stanley 04/25/2018 ---311,000.00 314,084.33 ---314,256.17 1,142.98 2.162 1.494 A 256350005 LC-Project Fund-Toll 2 CCYUSD Currency UNITED STATES OF AMERICA 12/31/2016 ---- 0.00 ---0.00 - 0.000 0.000 AAA 256350005 LC-Project Fund-Toll 2 CCYUSD Currency UNITED STATES OF AMERICA 12/31/2016 ---- 5,111.23 ---5,111.23 - 0.000 0.000 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest CCYUSD Currency UNITED STATES OF AMERICA 12/31/2016 ---- 950,000.00 ---950,000.00 - 0.000 0.000 AAA 256350005 LC-Project Fund-Toll 2 62944BBC7 Non-US Gov N.V. Bank Nederlandse Gemeenten 07/14/2017 ---575,000.00 574,335.00 ---575,034.50 297.88 0.951 1.069 AAA 256350005 LC-Project Fund-Toll 2 298785GK6 Non-US Gov Banque Europeenne D'investissement (BEI)04/18/2017 ---575,000.00 575,503.50 ---574,620.50 (536.86) 0.875 1.094 AAA 256350005 LC-Project Fund-Toll 2 302154BL2 Non-US Gov The Export-Import Bank of Korea 01/14/2017 ---400,000.00 400,576.00 ---400,044.00 13.03 1.631 1.362 AA 256350023 LC-Sr Lien Reserve Fund-1 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2016 ---- 19,523.51 ---19,523.51 - 0.000 0.000 NA 256350022 LC-Sr Lien Ob Fund-1 Interest 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2016 ---- 54,212.93 ---54,212.93 - 0.000 0.000 NA 205091001 LC-2013 A Capitalized Interest 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2016 ---- 109,876.53 ---109,876.53 - 0.000 0.000 NA 256350001 LC-Project Fund-2 Senior Lien 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2016 12/16/2016 - 72,392.91 ---72,392.91 - 0.000 0.000 NA 256350004 LC-PF-2 Sales Tax Revenue Bond 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2016 08/02/2016 - 57.12 ---57.12 - 0.000 0.000 NA 256350005 LC-Project Fund-Toll 2 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2016 ---- 363,096.77 ---363,096.77 - 0.000 0.000 NA 205091001 LC-2013 A Capitalized Interest 184126YS3 Muni Clayton County Water Authority 05/01/2017 07/11/2013 770,000.00 755,939.80 ---770,438.90 1,704.94 1.300 1.127 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 ---1,186,497.00 4,023.44 3.140 1.251 AA 256350005 LC-Project Fund-Toll 2 955116AZ1 Muni West Palm Beach, City of 10/01/2017 06/09/2016 230,000.00 229,857.40 ---229,277.80 (635.44) 1.100 1.520 AA 256350005 LC-Project Fund-Toll 2 65819WAC7 Muni North Carolina Eastern Municipal Power Agency 07/01/2018 ---190,000.00 190,625.40 ---190,400.90 27.10 2.003 1.860 A 256350005 LC-Project Fund-Toll 2 20772JL59 Muni Connecticut, State of 08/01/2020 03/03/2016 130,000.00 132,577.90 ---131,433.90 (685.34) 2.500 2.178 AA 24 Page 5 of 32 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 December 31, 2016 256350005 LC-Project Fund-Toll 2 13063BFU1 Muni California, State Of 03/01/2019 ---140,000.00 158,412.45 ---153,591.20 (110.38) 6.200 1.626 AA 256350005 LC-Project Fund-Toll 2 937308AZ7 Muni WBRP 3.2 WASHINGTON BIOMED RES 03/01/2018 09/25/2015 95,000.00 95,000.00 ---94,837.55 (162.45) 1.485 1.633 AA 256350022 LC-Sr Lien Ob Fund-1 Interest 235219JS2 Muni Dallas, City of 02/15/2017 07/10/2013 650,000.00 650,000.00 ---650,403.00 403.00 1.589 1.086 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 ---2,136,323.70 1,323.70 1.589 1.086 AA 256350005 LC-Project Fund-Toll 2 49130TRY4 Muni Kentucky Housing Corporation 01/01/2017 06/17/2015 180,000.00 179,760.60 ---179,998.20 (1.80) 0.937 1.291 AAA 256350005 LC-Project Fund-Toll 2 91476PPG7 Muni University of Oklahoma 07/01/2020 11/17/2015 80,000.00 79,544.00 ---79,864.00 215.08 2.349 2.400 A 256350023 LC-Sr Lien Reserve Fund-1 912828WU0 TIPS Treasury, United States Department of 07/15/2024 02/05/2016 397,020.00 386,463.42 ---390,032.45 2,472.52 0.125 0.362 AAA 256350005 LC-Project Fund-Toll 2 912828K33 TIPS Treasury, United States Department of 04/15/2020 06/02/2016 980,580.50 992,999.36 ---990,768.73 (366.04) 0.125 -0.190 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828B58 US Gov Treasury, United States Department of 01/31/2021 ---1,640,000.00 1,677,556.65 ---1,661,844.80 (7,695.02) 2.125 1.785 AAA 256350005 LC-Project Fund-Toll 2 912828TG5 US Gov Treasury, United States Department of 07/31/2017 ---1,600,000.00 1,592,193.36 ---1,598,368.00 1,578.42 0.500 0.674 AAA 205091001 LC-2013 A Capitalized Interest 912828M23 US Gov Treasury, United States Department of 10/31/2017 12/28/2015 800,000.00 798,262.41 ---801,072.00 1,866.53 0.724 0.572 AAA 205091001 LC-2013 A Capitalized Interest 912828UB4 US Gov Treasury, United States Department of 11/30/2019 06/17/2015 1,250,000.00 1,216,699.22 ---1,234,962.50 7,016.83 1.000 1.422 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828UF5 US Gov Treasury, United States Department of 12/31/2019 11/16/2015 250,000.00 246,132.81 ---247,567.50 404.09 1.125 1.457 AAA 256350005 LC-Project Fund-Toll 2 912828KD1 US Gov Treasury, United States Department of 02/15/2019 ---1,935,000.00 2,027,131.64 ---1,995,778.35 (2,187.79) 2.750 1.249 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828VV9 US Gov Treasury, United States Department of 08/31/2020 ---235,000.00 241,525.78 ---238,799.95 (1,415.03) 2.125 1.668 AAA 256350005 LC-Project Fund-Toll 2 912828UA6 US Gov Treasury, United States Department of 11/30/2017 ---3,465,000.00 3,454,861.14 ---3,456,891.90 (2,729.56) 0.625 0.882 AAA 256350005 LC-Project Fund-Toll 2 912828B58 US Gov Treasury, United States Department of 01/31/2021 ---1,125,000.00 1,160,760.74 ---1,139,985.00 (16,059.51) 2.125 1.785 AAA 205091001 LC-2013 A Capitalized Interest 912828J84 US Gov Treasury, United States Department of 03/31/2020 06/03/2015 2,000,000.00 1,973,390.62 ---1,989,540.00 7,689.59 1.375 1.540 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 912828J84 US Gov Treasury, United States Department of 03/31/2020 06/17/2015 200,000.00 197,023.44 ---198,954.00 997.51 1.375 1.540 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828VB3 US Gov Treasury, United States Department of 05/15/2023 07/05/2013 1,600,000.00 1,487,125.00 ---1,558,368.00 34,517.97 1.750 2.189 AAA 256350005 LC-Project Fund-Toll 2 912828UF5 US Gov Treasury, United States Department of 12/31/2019 ---3,775,000.00 3,776,018.56 ---3,738,269.25 (37,537.26) 1.125 1.457 AAA 256350005 LC-Project Fund-Toll 2 912828UR9 US Gov Treasury, United States Department of 02/28/2018 ---2,750,000.00 2,747,428.71 ---2,743,565.00 (4,509.20) 0.750 0.952 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 912828UA6 US Gov Treasury, United States Department of 11/30/2017 07/05/2013 200,000.00 194,343.75 ---199,532.00 731.55 0.625 0.882 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 ---1,745,905.00 6,401.06 0.625 0.882 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828XB1 US Gov Treasury, United States Department of 05/15/2025 05/24/2016 1,200,000.00 1,228,546.88 ---1,176,372.00 (50,402.21) 2.125 2.386 AAA 205091001 LC-2013 A Capitalized Interest 912796KU2 US Gov Treasury, United States Department of 05/04/2017 12/20/2016 4,100,000.00 4,091,056.99 ---4,091,882.00 90.88 0.000 0.579 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 912828K41 US Gov Treasury, United States Department of 04/30/2017 07/30/2015 200,000.00 200,001.77 ---200,068.00 67.67 0.630 0.527 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828RC6 US Gov Treasury, United States Department of 08/15/2021 ---1,775,000.00 1,804,427.73 ---1,791,844.75 (8,274.89) 2.125 1.910 AAA 256350005 LC-Project Fund-Toll 2 912828VK3 US Gov Treasury, United States Department of 06/30/2018 ---2,475,000.00 2,500,920.91 ---2,486,607.75 (5,781.32) 1.375 1.060 AAA 205091001 LC-2013 A Capitalized Interest 912828UZ1 US Gov Treasury, United States Department of 04/30/2018 06/03/2015 2,100,000.00 2,075,554.69 ---2,089,752.00 1,020.72 0.625 0.994 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 912828UZ1 US Gov Treasury, United States Department of 04/30/2018 07/14/2015 200,000.00 198,187.50 ---199,024.00 (108.21) 0.625 0.994 AAA 116,136,417.51 118,352,477.60 117,910,320.48 (168,058.15) 25 Page 6 of 32 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 205091001 LC-2013 A Capitalized Interest 31392HWL3 Agency CMO Federal National Mortgage Association 02/25/2018 07/12/2013 11,240.53 11,865.79 ---11,429.93 29.89 5.000 0.742 AAA 205091001 LC-2013 A Capitalized Interest 31392F6C6 Agency CMO Federal National Mortgage Association 12/25/2017 07/09/2013 62,300.24 66,086.92 ---63,036.01 (101.36) 5.000 1.131 AAA 205091001 LC-2013 A Capitalized Interest 31393EXC8 Agency CMO Federal National Mortgage Association 09/25/2018 07/24/2013 118,045.94 124,796.70 ---121,141.10 775.53 4.500 0.019 AAA 205091001 LC-2013 A Capitalized Interest 31392FPP6 Agency CMO Federal National Mortgage Association 11/25/2017 07/15/2013 36,656.58 38,821.61 ---37,045.14 (70.99) 5.000 1.201 AAA 205091001 LC-2013 A Capitalized Interest 31393V2T7 Agency CMO Federal Home Loan Mortgage Corporation 06/15/2018 07/08/2013 214,882.57 227,271.89 ---219,936.61 949.81 4.500 0.140 AAA 205091001 LC-2013 A Capitalized Interest 31402RBG3 Agency MBS Federal National Mortgage Association 09/01/2019 ---60,270.64 64,642.93 ---61,902.77 (375.37) 6.000 1.839 AAA 205091001 LC-2013 A Capitalized Interest 31410GSQ7 Agency MBS Federal National Mortgage Association 12/01/2017 07/05/2013 24,323.91 26,117.80 ---24,563.99 (118.27) 6.000 2.014 AAA 205091001 LC-2013 A Capitalized Interest 36200AFG9 Agency MBS Government National Mortgage Association 11/15/2017 07/09/2013 7,919.89 8,439.63 ---7,997.19 (49.31) 5.500 2.180 AAA 205091001 LC-2013 A Capitalized Interest 3128MBTH0 Agency MBS Federal Home Loan Mortgage Corporation 03/01/2019 07/26/2013 41,932.00 44,447.92 ---42,959.33 73.05 5.000 1.141 AAA 205091001 LC-2013 A Capitalized Interest 36290WH47 Agency MBS Government National Mortgage Association 09/15/2018 07/18/2013 384,191.03 408,202.98 ---392,566.39 (866.86) 4.500 1.082 AAA 205091001 LC-2013 A Capitalized Interest 3128H4NR6 Agency MBS Federal Home Loan Mortgage Corporation 05/01/2018 07/16/2013 26,718.03 28,304.41 ---27,372.62 158.57 5.000 0.152 AAA 205091001 LC-2013 A Capitalized Interest 31402QT68 Agency MBS Federal National Mortgage Association 10/01/2019 07/11/2013 84,454.50 91,237.25 ---87,285.41 (665.35) 6.000 1.893 AAA 205091001 LC-2013 A Capitalized Interest 3128PGLY7 Agency MBS Federal Home Loan Mortgage Corporation 05/01/2017 07/17/2013 22,713.99 23,934.86 ---23,270.48 442.09 5.000 -10.643 AAA 205091001 LC-2013 A Capitalized Interest 31401MWC1 Agency MBS Federal National Mortgage Association 06/01/2018 07/12/2013 267,363.80 285,076.66 ---274,783.15 2,312.68 4.500 -0.235 AAA 205091001 LC-2013 A Capitalized Interest 3128PHVS7 Agency MBS Federal Home Loan Mortgage Corporation 11/01/2019 07/16/2013 18,685.53 19,689.88 ---19,143.33 123.00 5.000 -0.189 AAA 205091001 LC-2013 A Capitalized Interest 3132FEAK7 Agency MBS Federal Home Loan Mortgage Corporation 12/01/2017 07/03/2013 37,725.08 39,976.80 ---38,649.35 343.70 5.000 -1.615 AAA 205091001 LC-2013 A Capitalized Interest 037833AJ9 Corporate Apple Inc.05/03/2018 06/17/2015 3,000,000.00 2,960,430.00 ---2,988,750.00 7,419.59 1.000 1.283 AA 205091001 LC-2013 A Capitalized Interest 084664BE0 Corporate Berkshire Hathaway Finance Corporation 05/15/2018 06/17/2015 800,000.00 890,632.00 ---841,952.00 (1,360.82) 5.400 1.530 AA 205091001 LC-2013 A Capitalized Interest 89236TAY1 Corporate Toyota Motor Credit Corporation 10/24/2018 06/17/2015 2,000,000.00 2,023,480.00 ---2,011,840.00 (1,056.41) 2.000 1.667 AA 205091001 LC-2013 A Capitalized Interest 30231GAL6 Corporate Exxon Mobil Corporation 03/06/2018 06/10/2015 580,000.00 579,344.60 ---579,860.80 145.32 1.305 1.325 AAA 205091001 LC-2013 A Capitalized Interest 89153VAC3 Corporate Total Capital International 06/28/2017 07/08/2013 160,000.00 157,765.60 ---160,264.00 548.80 1.550 1.214 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 ---403,272.00 205.09 5.200 1.574 AA 205091001 LC-2013 A Capitalized Interest 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2016 ---- 109,876.53 ---109,876.53 - 0.000 0.000 NA 205091001 LC-2013 A Capitalized Interest 184126YS3 Muni Clayton County Water Authority 05/01/2017 07/11/2013 770,000.00 755,939.80 ---770,438.90 1,704.94 1.300 1.127 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 ---1,186,497.00 4,023.44 3.140 1.251 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 ---2,136,323.70 1,323.70 1.589 1.086 AA 205091001 LC-2013 A Capitalized Interest 912828M23 US Gov Treasury, United States Department of 10/31/2017 12/28/2015 800,000.00 798,262.41 ---801,072.00 1,866.53 0.724 0.572 AAA 205091001 LC-2013 A Capitalized Interest 912828UB4 US Gov Treasury, United States Department of 11/30/2019 06/17/2015 1,250,000.00 1,216,699.22 ---1,234,962.50 7,016.83 1.000 1.422 AAA 205091001 LC-2013 A Capitalized Interest 912828J84 US Gov Treasury, United States Department of 03/31/2020 06/03/2015 2,000,000.00 1,973,390.62 ---1,989,540.00 7,689.59 1.375 1.540 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 ---1,745,905.00 6,401.06 0.625 0.882 AAA 205091001 LC-2013 A Capitalized Interest 912796KU2 US Gov Treasury, United States Department of 05/04/2017 12/20/2016 4,100,000.00 4,091,056.99 ---4,091,882.00 90.88 0.000 0.579 AAA 205091001 LC-2013 A Capitalized Interest 912828UZ1 US Gov Treasury, United States Department of 04/30/2018 06/03/2015 2,100,000.00 2,075,554.69 ---2,089,752.00 1,020.72 0.625 0.994 AAA 24,595,271.23 256350001 LC-Project Fund-2 Senior Lien 313397AJ0 Agency Federal Home Loan Mortgage Corporation 01/09/2017 12/30/2016 400,000.00 399,950.56 ---399,976.00 15.55 0.000 0.220 AAA 256350001 LC-Project Fund-2 Senior Lien 313385AV8 Agency FHLBanks Office of Finance 01/20/2017 12/30/2016 300,000.00 299,916.00 ---299,946.00 22.00 0.000 0.314 AAA 256350001 LC-Project Fund-2 Senior Lien 313385AD8 Agency FHLBanks Office of Finance 01/04/2017 12/30/2016 1,000,000.00 999,945.28 ---999,990.00 22.83 0.000 0.073 AAA 256350001 LC-Project Fund-2 Senior Lien 313385AF3 Agency FHLBanks Office of Finance 01/06/2017 ---850,000.00 849,917.85 ---849,974.50 29.71 0.000 0.157 AAA 256350001 LC-Project Fund-2 Senior Lien 313385AT3 Agency FHLBanks Office of Finance 01/18/2017 12/30/2016 300,000.00 299,924.00 ---299,952.00 20.00 0.000 0.308 AAA 256350001 LC-Project Fund-2 Senior Lien 313385AN6 Agency FHLBanks Office of Finance 01/13/2017 12/30/2016 825,000.00 824,856.60 ---824,909.25 32.17 0.000 0.288 AAA 256350001 LC-Project Fund-2 Senior Lien 91324PCJ9 Corporate UnitedHealth Group Incorporated 01/17/2017 08/03/2015 290,000.00 290,222.43 ---290,049.30 42.59 1.330 0.987 A 256350001 LC-Project Fund-2 Senior Lien 06538BN58 CP The Bank of Tokyo-Mitsubishi UFJ, Ltd.01/05/2017 12/29/2016 1,000,000.00 999,873.61 ---999,960.00 32.22 0.000 0.288 AAA 256350001 LC-Project Fund-2 Senior Lien 06538BNH2 CP The Bank of Tokyo-Mitsubishi UFJ, Ltd.01/17/2017 10/17/2016 1,000,000.00 997,827.78 ---999,720.00 97.78 0.000 0.594 AAA 256350001 LC-Project Fund-2 Senior Lien 22533TNH5 CP Credit Agricole Corporate and Investment Bank 01/17/2017 10/17/2016 1,000,000.00 997,776.67 ---999,720.00 106.67 0.000 0.594 AAA 256350001 LC-Project Fund-2 Senior Lien 63873JNH9 CP Natixis 01/17/2017 10/17/2016 1,000,000.00 997,725.00 ---999,720.00 120.00 0.000 0.594 AAA 256350001 LC-Project Fund-2 Senior Lien 46640PNL3 CP J.P. Morgan Securities LLC 01/20/2017 10/19/2016 810,000.00 808,034.40 ---809,724.60 135.00 0.000 0.613 AAA 256350001 LC-Project Fund-2 Senior Lien 74433GNB8 CP Prudential Funding LLC 01/11/2017 10/18/2016 1,000,000.00 998,250.00 ---999,840.00 48.33 0.000 0.524 AAA 256350001 LC-Project Fund-2 Senior Lien 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2016 12/16/2016 - 72,392.91 ---72,392.91 - 0.000 0.000 NA 9,845,874.56 256350004 LC-PF-2 Sales Tax Revenue Bond 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2016 08/02/2016 - 57.12 ---57.12 - 0.000 0.000 NA 256350005 LC-Project Fund-Toll 2 313385AD8 Agency FHLBanks Office of Finance 01/04/2017 12/29/2016 300,000.00 299,979.50 ---299,997.00 7.25 0.000 0.073 AAA 256350005 LC-Project Fund-Toll 2 3133EECD0 Agency Farm Credit Banks Consolidated Systemwide Bonds And Discount Notes 06/20/2017 06/15/2015 500,000.00 500,308.15 ---500,325.00 253.73 0.769 0.664 AAA 256350005 LC-Project Fund-Toll 2 313397AD3 Agency Federal Home Loan Mortgage Corporation 01/04/2017 12/29/2016 450,000.00 449,971.88 ---449,995.50 12.37 0.000 0.073 AAA 256350005 LC-Project Fund-Toll 2 3137AH6Q6 Agency CMO Federal Home Loan Mortgage Corporation 08/25/2018 06/24/2016 468,155.93 479,786.69 ---473,993.84 (2,748.30) 2.412 1.455 AAA 256350005 LC-Project Fund-Toll 2 38378BR35 Agency CMO Government National Mortgage Association 11/16/2042 07/10/2015 329,348.44 321,938.10 ---318,558.99 (3,575.46) 1.333 2.061 AAA 256350005 LC-Project Fund-Toll 2 3137A85H7 Agency CMO Federal Home Loan Mortgage Corporation 12/15/2039 07/13/2015 112,093.89 116,857.87 ---115,813.16 (838.47) 3.500 2.043 AAA 256350005 LC-Project Fund-Toll 2 3137A1LC5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2020 08/31/2015 61,835.19 62,820.69 ---62,254.43 (294.50) 2.000 1.372 AAA 256350005 LC-Project Fund-Toll 2 3133XY2H7 Agency CMO FHLBanks Office of Finance 04/20/2017 07/13/2015 217,945.73 223,871.14 ---219,303.54 77.48 2.900 0.858 AA 256350005 LC-Project Fund-Toll 2 31394GH22 Agency CMO Federal Home Loan Mortgage Corporation 07/15/2018 07/20/2015 53,774.23 55,740.35 ---54,703.99 (50.87) 4.500 0.906 AAA 256350005 LC-Project Fund-Toll 2 3136A2HB2 Agency CMO Federal National Mortgage Association 03/25/2040 08/17/2016 518,671.08 529,692.84 ---516,373.36 (13,196.00) 2.250 2.340 AAA 256350005 LC-Project Fund-Toll 2 36225FGM5 Agency MBS Ginnie Mae II 08/20/2041 08/06/2015 0.00 0.01 ---- (0.01) 2.125 1.707 AAA 256350005 LC-Project Fund-Toll 2 3138ELY64 Agency MBS Federal National Mortgage Association/Fannie Mae 02/01/2023 07/07/2016 201,566.78 221,660.46 ---218,069.05 (2,607.18) 6.000 1.595 AAA 256350005 LC-Project Fund-Toll 2 38378NNA7 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 05/16/2038 06/26/2015 459,169.22 462,308.07 ---458,746.79 (3,320.04) 2.250 2.195 AAA 256350005 LC-Project Fund-Toll 2 36225EUY6 Agency MBS Ginnie Mae II 09/20/2039 09/17/2015 86,204.86 88,656.32 ---88,787.56 263.68 2.125 1.172 AAA 256350005 LC-Project Fund-Toll 2 55315FAB6 Asset Backed MMAF EQUIPMENT FINANCE LLC 12/17/2018 05/03/2016 275,000.00 274,996.84 ---275,099.00 100.40 1.390 1.325 AAA 256350005 LC-Project Fund-Toll 2 47787UAD5 Asset Backed John Deere Owner Trust 2015 06/17/2019 ---600,000.00 600,819.73 ---600,150.00 (264.27) 1.320 1.280 AAA 256350005 LC-Project Fund-Toll 2 161571FK5 Asset Backed Chase Issuance Trust 08/16/2021 12/10/2015 150,000.00 148,359.38 ---149,020.50 204.77 1.580 1.842 AAA 256350005 LC-Project Fund-Toll 2 02582JGG9 Asset Backed American Express Credit Account Master Trust 05/17/2021 02/26/2016 300,000.00 300,468.75 ---300,921.00 188.64 1.124 1.023 AAA 256350005 LC-Project Fund-Toll 2 36159LBW5 Asset Backed GE Dealer Floorplan Master Not 04/22/2019 ---500,000.00 501,164.06 ---500,575.00 86.19 1.489 1.167 AAA STAMP Portfolio by Account for quarter ended December 31, 2016 ATTACHMENT 3 26 Page 7 of 32 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 December 31, 2016 256350005 LC-Project Fund-Toll 2 65478QAD0 Asset Backed Nissan Auto Lease Trust 2016-A 03/15/2019 05/17/2016 155,000.00 154,992.99 ---155,106.95 111.87 1.490 1.444 AAA 256350005 LC-Project Fund-Toll 2 58769AAD8 Asset Backed Mercedes-Benz Auto Lease Trust 2015-B 07/16/2018 ---600,000.00 600,906.74 ---600,456.00 (36.88) 1.340 1.220 AAA 256350005 LC-Project Fund-Toll 2 90290KAD7 Asset Backed USAA Auto Owner Trust 2014-1 05/15/2019 06/12/2015 337,501.27 336,736.62 ---337,406.77 127.27 0.940 0.996 AAA 256350005 LC-Project Fund-Toll 2 43814KAC5 Asset Backed Honda Auto Receivables 2015-1 Owner Trust 10/15/2018 06/02/2016 440,159.61 440,228.39 ---439,904.32 (297.26) 1.050 1.162 AAA 256350005 LC-Project Fund-Toll 2 161571HB3 Asset Backed Chase Issuance Trust 05/17/2021 06/07/2016 500,000.00 500,878.91 ---501,560.00 370.35 1.114 1.051 AAA 256350005 LC-Project Fund-Toll 2 05582XAD4 Asset Backed BMW VEHICLE LEASE TRUST 09/20/2019 10/04/2016 545,000.00 544,927.95 ---545,223.45 287.21 1.430 1.410 AAA 256350005 LC-Project Fund-Toll 2 58772PAC2 Asset Backed Mercedes-Benz Auto Receivables Trust 2015-1 06/15/2018 08/04/2015 0.01 0.01 ---0.01 - 0.974 1.014 AAA 256350005 LC-Project Fund-Toll 2 58768MAD3 Asset Backed MERCEDES-BENZ AUTO LEASE TRUST 06/15/2022 10/18/2016 190,000.00 189,983.00 ---188,708.00 (1,276.34) 1.520 1.869 AAA 256350005 LC-Project Fund-Toll 2 161571GQ1 Asset Backed Chase Issuance Trust 11/15/2019 10/28/2015 120,000.00 120,510.94 ---120,104.40 (115.64) 1.380 1.283 AAA 256350005 LC-Project Fund-Toll 2 36159LCR5 Asset Backed GE Dealer Floorplan Master Not 01/20/2020 06/07/2016 110,000.00 109,759.38 ---110,162.80 226.41 1.239 1.142 AAA 256350005 LC-Project Fund-Toll 2 477877AD6 Asset Backed John Deere Owner Trust 2014-B 11/15/2018 ---280,998.31 280,978.55 ---280,978.64 (6.58) 1.070 1.088 AAA 256350005 LC-Project Fund-Toll 2 60689LAC9 Asset Backed MMAF EQUIPMENT FINANCE LLC 12/11/2017 08/05/2015 4,508.72 4,510.84 ---4,508.32 (0.48) 1.030 1.394 AAA 256350005 LC-Project Fund-Toll 2 65474VAL5 Asset Backed Nissan Master Owner Trust Receivables 06/15/2021 07/12/2016 225,000.00 224,967.96 ---223,575.75 (1,402.13) 1.540 1.810 AAA 256350005 LC-Project Fund-Toll 2 55315GAC2 Asset Backed MMAF EQUIPMENT FINANCE LLC 10/16/2019 ---271,935.58 271,049.32 ---271,473.28 (91.94) 1.390 1.610 AAA 256350005 LC-Project Fund-Toll 2 62888WAA4 CMO NATIONAL CREDIT UNION ADMINISTRATION GUARANTEED NOTES TRUST 12/08/2020 ---475,510.62 477,394.95 ---476,775.48 (379.14) 1.079 1.280 AAA 256350005 LC-Project Fund-Toll 2 62888YAA0 CMO NCUA Guaranteed Notes Trust 2011-R1 01/08/2020 07/14/2015 180,371.16 181,244.83 ---180,730.10 (229.22) 0.969 1.280 AAA 256350005 LC-Project Fund-Toll 2 865622CB8 Corporate Sumitomo Mitsui Banking Corporation 01/18/2019 01/13/2016 250,000.00 250,000.00 ---251,330.00 1,330.00 1.822 1.680 A 256350005 LC-Project Fund-Toll 2 94988J5E3 Corporate Wells Fargo Bank, National Association 05/24/2019 08/03/2016 255,000.00 255,731.85 ---255,851.70 233.82 1.530 1.465 AA 256350005 LC-Project Fund-Toll 2 22546QAM9 Corporate Credit Suisse AG 05/26/2017 ---555,000.00 554,149.80 ---555,427.35 690.47 1.427 1.350 A 256350005 LC-Project Fund-Toll 2 26442CAD6 Corporate Duke Energy Carolinas, LLC 04/15/2018 06/11/2015 116,000.00 127,422.52 ---121,222.32 (26.53) 5.100 1.564 AA 256350005 LC-Project Fund-Toll 2 89352HAP4 Corporate TransCanada PipeLines Limited 01/12/2018 02/03/2016 150,000.00 146,716.50 ---150,585.00 2,341.18 1.664 1.418 A 256350005 LC-Project Fund-Toll 2 05531FAP8 Corporate BB&T Corporation 06/15/2018 ---380,000.00 381,823.60 43,235.00 382,109.00 822.25 1.823 1.463 A 256350005 LC-Project Fund-Toll 2 74153WCE7 Corporate Pricoa Global Funding I 08/18/2017 ---500,000.00 499,977.00 ---500,260.00 114.74 1.350 1.267 AA 256350005 LC-Project Fund-Toll 2 06416CAA6 Corporate The Bank of Nova Scotia 09/11/2019 06/29/2016 425,000.00 434,974.75 ---427,163.25 (6,304.76) 2.125 1.930 AAA 256350005 LC-Project Fund-Toll 2 06050TLY6 Corporate Bank of America, National Association 03/26/2018 06/10/2015 300,000.00 298,968.00 ---300,279.00 741.13 1.650 1.573 A 256350005 LC-Project Fund-Toll 2 69353RET1 Corporate PNC Realty Investors, Inc.11/05/2018 ---600,000.00 606,243.00 43,379.00 601,092.00 (3,957.26) 1.800 1.695 A 256350005 LC-Project Fund-Toll 2 037833BR0 Corporate Apple Inc.02/22/2019 ---450,000.00 454,432.50 ---456,214.50 2,713.27 1.740 1.184 AA 256350005 LC-Project Fund-Toll 2 91159HHD5 Corporate U.S. Bancorp 05/15/2017 ---550,000.00 554,566.00 42,840.00 550,786.50 (164.92) 1.650 1.156 A 256350005 LC-Project Fund-Toll 2 46623EKD0 Corporate JPMorgan Chase & Co.03/01/2018 ---730,000.00 729,894.80 43,132.00 729,934.30 (170.94) 1.700 1.707 A 256350005 LC-Project Fund-Toll 2 891145W59 Corporate The Toronto-Dominion Bank 09/25/2019 08/16/2016 450,000.00 461,686.50 ---453,582.00 (6,734.13) 2.250 1.949 AAA 256350005 LC-Project Fund-Toll 2 06367XF30 Corporate Bank of Montreal 06/15/2021 08/17/2016 500,000.00 500,975.00 ---486,685.00 (14,223.69) 1.750 2.383 AAA 256350005 LC-Project Fund-Toll 2 89837LAA3 Corporate The Trustees of Princeton University 03/01/2019 ---255,000.00 281,113.75 ---272,189.55 (186.97) 4.950 1.768 AAA 256350005 LC-Project Fund-Toll 2 74256LAT6 Corporate Principal Life Global Funding II 12/01/2017 08/22/2016 360,000.00 361,533.60 ---361,454.40 348.09 1.431 1.080 A 256350005 LC-Project Fund-Toll 2 61747YDT9 Corporate Morgan Stanley 03/22/2017 06/08/2016 300,000.00 308,265.00 ---302,259.00 (103.03) 4.750 1.415 A 256350005 LC-Project Fund-Toll 2 06050TKX9 Corporate Bank of America, National Association 06/15/2017 ---505,000.00 501,876.55 ---504,722.25 835.91 1.263 1.442 A 256350005 LC-Project Fund-Toll 2 89114QBF4 Corporate The Toronto-Dominion Bank 01/22/2019 ---525,000.00 528,126.80 ---529,305.00 1,856.38 1.722 1.443 AA 256350005 LC-Project Fund-Toll 2 05531FAQ6 Corporate BB&T Corporation 02/01/2019 08/23/2016 200,000.00 204,374.00 43,467.00 201,558.00 (2,179.59) 2.250 1.852 A 256350005 LC-Project Fund-Toll 2 55279HAH3 Corporate Manufacturers and Traders Trust Company 07/25/2017 ---550,000.00 549,163.10 ---550,423.50 696.07 1.182 1.180 A 256350005 LC-Project Fund-Toll 2 94988J5B9 Corporate Wells Fargo Bank, National Association 01/22/2018 ---500,000.00 501,314.25 ---502,435.00 1,583.51 1.622 1.291 AA 256350005 LC-Project Fund-Toll 2 202795HU7 Corporate Commonwealth Edison Company 03/15/2018 08/05/2016 255,000.00 273,819.00 ---267,778.05 (1,410.11) 5.800 1.594 A 256350005 LC-Project Fund-Toll 2 94974BGR5 Corporate Wells Fargo & Company 12/07/2020 07/12/2016 440,000.00 453,314.40 ---440,501.60 (11,462.35) 2.550 2.519 A 256350005 LC-Project Fund-Toll 2 38147MAA3 Corporate The Goldman Sachs Group, Inc.07/19/2018 12/02/2015 100,000.00 102,578.00 ---101,381.00 (160.81) 2.900 1.992 A 256350005 LC-Project Fund-Toll 2 46849LSL6 Corporate Jackson National Life Global Funding 10/15/2018 ---650,000.00 655,151.00 ---651,345.50 (2,748.22) 1.875 1.757 AA 256350005 LC-Project Fund-Toll 2 209111ET6 Corporate Consolidated Edison Company of New York, Inc.04/01/2018 06/22/2015 220,000.00 245,828.00 ---231,530.20 (244.15) 5.850 1.605 A 256350005 LC-Project Fund-Toll 2 31677QAV1 Corporate Fifth Third Bank 02/28/2018 06/08/2016 400,000.00 400,544.00 43,128.00 399,088.00 (1,274.91) 1.450 1.648 A 256350005 LC-Project Fund-Toll 2 063679ZT4 Corporate Bank of Montreal 01/30/2017 06/12/2015 300,000.00 304,620.00 ---300,183.00 (43.12) 1.950 1.207 AAA 256350005 LC-Project Fund-Toll 2 0258M0DZ9 Corporate American Express Credit Corporation 11/05/2018 ---450,000.00 453,007.50 43,378.00 450,652.50 (1,640.60) 1.875 1.791 A 256350005 LC-Project Fund-Toll 2 233851CF9 Corporate Daimler Finance North America LLC 07/05/2019 06/30/2016 370,000.00 369,448.70 ---364,035.60 (5,500.79) 1.500 2.162 A 256350005 LC-Project Fund-Toll 2 55279HAA8 Corporate Manufacturers and Traders Trust Company 03/07/2018 06/06/2016 400,000.00 400,012.00 43,136.00 399,464.00 (546.18) 1.450 1.564 A 256350005 LC-Project Fund-Toll 2 59217GAY5 Corporate Metropolitan Life Global Funding I 01/10/2018 ---550,000.00 550,406.00 ---550,088.00 (260.80) 1.500 1.484 AA 256350005 LC-Project Fund-Toll 2 80851QDA9 Corporate The Charles Schwab Corporation 09/01/2017 10/27/2015 65,000.00 71,075.55 ---67,171.00 (37.71) 6.375 1.343 A 256350005 LC-Project Fund-Toll 2 780082AA1 Corporate Royal Bank of Canada 02/05/2020 06/24/2016 990,000.00 1,002,941.55 ---985,129.20 (16,042.82) 1.875 2.039 AAA 256350005 LC-Project Fund-Toll 2 46625HJF8 Corporate JPMorgan Chase & Co.01/25/2018 08/03/2016 265,000.00 266,831.15 ---266,733.10 401.67 1.782 1.299 A 256350005 LC-Project Fund-Toll 2 842434CN0 Corporate Southern California Gas Company 06/15/2018 06/15/2015 250,000.00 249,992.50 ---250,187.50 191.25 1.550 1.498 AA 256350005 LC-Project Fund-Toll 2 48121CYK6 Corporate JPMorgan Chase Bank, National Association 10/01/2017 03/09/2016 250,000.00 265,022.50 ---257,995.00 685.49 6.000 1.702 A 256350005 LC-Project Fund-Toll 2 6174467V5 Corporate Morgan Stanley 04/25/2018 ---311,000.00 314,084.33 ---314,256.17 1,142.98 2.162 1.494 A 256350005 LC-Project Fund-Toll 2 83700ENK0 CP South Carolina Electric & Gas Company 01/19/2017 12/20/2016 3,100,000.00 3,097,588.88 ---3,099,008.00 558.01 0.000 0.607 AA 256350005 LC-Project Fund-Toll 2 71112JN42 CP The Peoples Gas Light And Coke Company 01/04/2017 12/21/2016 725,000.00 724,743.84 ---724,985.50 49.54 0.000 0.180 AAA 256350005 LC-Project Fund-Toll 2 43357LND0 CP Hitachi Capital America Corp.01/13/2017 12/20/2016 3,500,000.00 3,497,604.46 ---3,499,300.00 606.66 0.000 0.555 AA 256350005 LC-Project Fund-Toll 2 06538BN58 CP The Bank of Tokyo-Mitsubishi UFJ, Ltd.01/05/2017 12/29/2016 3,500,000.00 3,499,557.64 ---3,499,860.00 112.78 0.000 0.288 AAA 256350005 LC-Project Fund-Toll 2 CCYUSD Currency UNITED STATES OF AMERICA 12/31/2016 ---- 0.00 ---0.00 - 0.000 0.000 AAA 256350005 LC-Project Fund-Toll 2 CCYUSD Currency UNITED STATES OF AMERICA 12/31/2016 ---- 5,111.23 ---5,111.23 - 0.000 0.000 AAA 256350005 LC-Project Fund-Toll 2 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2016 ---- 363,096.77 ---363,096.77 - 0.000 0.000 NA 256350005 LC-Project Fund-Toll 2 955116AZ1 Muni West Palm Beach, City of 10/01/2017 06/09/2016 230,000.00 229,857.40 ---229,277.80 (635.44) 1.100 1.520 AA 256350005 LC-Project Fund-Toll 2 65819WAC7 Muni North Carolina Eastern Municipal Power Agency 07/01/2018 ---190,000.00 190,625.40 ---190,400.90 27.10 2.003 1.860 A 256350005 LC-Project Fund-Toll 2 20772JL59 Muni Connecticut, State of 08/01/2020 03/03/2016 130,000.00 132,577.90 ---131,433.90 (685.34) 2.500 2.178 AA 256350005 LC-Project Fund-Toll 2 13063BFU1 Muni California, State Of 03/01/2019 ---140,000.00 158,412.45 ---153,591.20 (110.38) 6.200 1.626 AA 256350005 LC-Project Fund-Toll 2 937308AZ7 Muni WBRP 3.2 WASHINGTON BIOMED RES 03/01/2018 09/25/2015 95,000.00 95,000.00 ---94,837.55 (162.45) 1.485 1.633 AA 256350005 LC-Project Fund-Toll 2 49130TRY4 Muni Kentucky Housing Corporation 01/01/2017 06/17/2015 180,000.00 179,760.60 ---179,998.20 (1.80) 0.937 1.291 AAA 256350005 LC-Project Fund-Toll 2 91476PPG7 Muni University of Oklahoma 07/01/2020 11/17/2015 80,000.00 79,544.00 ---79,864.00 215.08 2.349 2.400 A 256350005 LC-Project Fund-Toll 2 62944BBC7 Non-US Gov N.V. Bank Nederlandse Gemeenten 07/14/2017 ---575,000.00 574,335.00 ---575,034.50 297.88 0.951 1.069 AAA 256350005 LC-Project Fund-Toll 2 298785GK6 Non-US Gov Banque Europeenne D'investissement (BEI)04/18/2017 ---575,000.00 575,503.50 ---574,620.50 (536.86) 0.875 1.094 AAA 256350005 LC-Project Fund-Toll 2 302154BL2 Non-US Gov The Export-Import Bank of Korea 01/14/2017 ---400,000.00 400,576.00 ---400,044.00 13.03 1.631 1.362 AA 256350005 LC-Project Fund-Toll 2 912828K33 TIPS Treasury, United States Department of 04/15/2020 06/02/2016 980,580.50 992,999.36 ---990,768.73 (366.04) 0.125 -0.190 AAA 256350005 LC-Project Fund-Toll 2 912828TG5 US Gov Treasury, United States Department of 07/31/2017 ---1,600,000.00 1,592,193.36 ---1,598,368.00 1,578.42 0.500 0.674 AAA 256350005 LC-Project Fund-Toll 2 912828KD1 US Gov Treasury, United States Department of 02/15/2019 ---1,935,000.00 2,027,131.64 ---1,995,778.35 (2,187.79) 2.750 1.249 AAA 256350005 LC-Project Fund-Toll 2 912828UA6 US Gov Treasury, United States Department of 11/30/2017 ---3,465,000.00 3,454,861.14 ---3,456,891.90 (2,729.56) 0.625 0.882 AAA 256350005 LC-Project Fund-Toll 2 912828B58 US Gov Treasury, United States Department of 01/31/2021 ---1,125,000.00 1,160,760.74 ---1,139,985.00 (16,059.51) 2.125 1.785 AAA 256350005 LC-Project Fund-Toll 2 912828UF5 US Gov Treasury, United States Department of 12/31/2019 ---3,775,000.00 3,776,018.56 ---3,738,269.25 (37,537.26) 1.125 1.457 AAA 256350005 LC-Project Fund-Toll 2 912828UR9 US Gov Treasury, United States Department of 02/28/2018 ---2,750,000.00 2,747,428.71 ---2,743,565.00 (4,509.20) 0.750 0.952 AAA 27 Page 8 of 32 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 December 31, 2016 256350005 LC-Project Fund-Toll 2 912828VK3 US Gov Treasury, United States Department of 06/30/2018 ---2,475,000.00 2,500,920.91 ---2,486,607.75 (5,781.32) 1.375 1.060 AAA 57,734,448.04 256350022 LC-Sr Lien Ob Fund-1 Interest 31393EXC8 Agency CMO Federal National Mortgage Association 09/25/2018 07/24/2013 13,116.22 13,866.30 ---13,460.12 86.17 4.500 0.019 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 3136A4M89 Agency CMO Federal National Mortgage Association 01/25/2019 07/05/2013 138,489.22 139,371.01 ---138,914.38 205.73 1.934 1.793 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 3137ASNH3 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2021 08/15/2013 288,215.94 280,650.27 ---285,290.55 1,480.08 1.459 1.889 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 31393V2T7 Agency CMO Federal Home Loan Mortgage Corporation 06/15/2018 07/08/2013 65,265.32 69,028.27 ---66,800.36 288.48 4.500 0.140 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 31402RBG3 Agency MBS Federal National Mortgage Association 09/01/2019 ---17,623.74 18,904.06 ---18,100.99 (110.34) 6.000 1.839 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 31385JLF3 Agency MBS Federal National Mortgage Association 08/01/2017 09/18/2013 20,832.00 22,238.16 ---20,950.74 (74.45) 6.000 1.802 AAA 256350022 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 ---309,216.00 5,348.42 6.250 1.614 A 256350022 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 ---299,829.00 1,406.63 1.375 1.442 A 256350022 LC-Sr Lien Ob Fund-1 Interest 166764AE0 Corporate Chevron Corporation 06/24/2018 06/17/2015 300,000.00 301,848.00 43,244.00 300,918.00 25.23 1.718 1.497 AA 256350022 LC-Sr Lien Ob Fund-1 Interest 891145TN4 Corporate The Toronto-Dominion Bank 03/13/2017 05/21/2015 700,000.00 707,168.00 ---700,546.00 (242.46) 1.500 1.110 AAA 256350022 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 ---309,594.00 1,953.27 6.000 1.702 A 256350022 LC-Sr Lien Ob Fund-1 Interest 89236TAY1 Corporate Toyota Motor Credit Corporation 10/24/2018 06/17/2015 500,000.00 505,870.00 ---502,960.00 (264.10) 2.000 1.667 AA 256350022 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 ---257,727.50 1,169.52 6.000 1.557 A 256350022 LC-Sr Lien Ob Fund-1 Interest 30231GAL6 Corporate Exxon Mobil Corporation 03/06/2018 06/10/2015 420,000.00 419,525.40 ---419,899.20 105.23 1.305 1.325 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 94974BGF1 Corporate Wells Fargo & Company 01/30/2020 06/03/2015 600,000.00 594,924.00 ---597,168.00 588.40 2.150 2.309 A 256350022 LC-Sr Lien Ob Fund-1 Interest 46625HJL5 Corporate JPMorgan Chase & Co.05/15/2018 06/03/2015 500,000.00 497,550.00 ---499,360.00 518.02 1.625 1.719 A 256350022 LC-Sr Lien Ob Fund-1 Interest 78011DAC8 Corporate Royal Bank of Canada 09/19/2017 05/21/2015 700,000.00 700,763.00 ---699,062.00 (1,176.22) 1.200 1.387 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 43357LND0 CP Hitachi Capital America Corp.01/13/2017 12/20/2016 200,000.00 199,863.11 ---199,960.00 34.67 0.000 0.555 AA 256350022 LC-Sr Lien Ob Fund-1 Interest CCYUSD Currency UNITED STATES OF AMERICA 12/31/2016 ---- 950,000.00 ---950,000.00 - 0.000 0.000 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2016 ---- 54,212.93 ---54,212.93 - 0.000 0.000 NA 256350022 LC-Sr Lien Ob Fund-1 Interest 235219JS2 Muni Dallas, City of 02/15/2017 07/10/2013 650,000.00 650,000.00 ---650,403.00 403.00 1.589 1.086 AA 256350022 LC-Sr Lien Ob Fund-1 Interest 912828J84 US Gov Treasury, United States Department of 03/31/2020 06/17/2015 200,000.00 197,023.44 ---198,954.00 997.51 1.375 1.540 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 912828UA6 US Gov Treasury, United States Department of 11/30/2017 07/05/2013 200,000.00 194,343.75 ---199,532.00 731.55 0.625 0.882 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 912828K41 US Gov Treasury, United States Department of 04/30/2017 07/30/2015 200,000.00 200,001.77 ---200,068.00 67.67 0.630 0.527 AAA 256350022 LC-Sr Lien Ob Fund-1 Interest 912828UZ1 US Gov Treasury, United States Department of 04/30/2018 07/14/2015 200,000.00 198,187.50 ---199,024.00 (108.21) 0.625 0.994 AAA 8,091,950.77 256350023 LC-Sr Lien Reserve Fund-1 3135G0D75 Agency Federal National Mortgage Association 06/22/2020 05/06/2015 600,000.00 593,490.00 ---597,204.00 1,679.09 1.500 1.638 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137EADR7 Agency Federal Home Loan Mortgage Corporation 05/01/2020 05/15/2015 475,000.00 471,527.75 ---471,318.75 (1,317.95) 1.375 1.614 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 Agency Federal Home Loan Mortgage Corporation 01/13/2022 ---950,000.00 942,921.50 ---965,589.50 15,948.28 2.375 2.030 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AJMF8 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2021 08/05/2015 30,000.00 31,038.28 ---30,909.30 114.42 2.968 2.237 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377JZ89 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 10/20/2039 07/05/2013 98,167.11 101,169.64 ---100,772.46 511.31 3.500 2.175 AAA 256350023 LC-Sr Lien Reserve Fund-1 31392JJ83 Agency CMO Federal National Mortgage Association 03/25/2018 07/08/2013 8,384.74 8,845.90 ---8,508.07 6.69 5.000 1.250 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376GB33 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 10/16/2044 01/23/2015 316,320.69 324,692.20 ---320,040.62 (3,672.95) 3.500 2.248 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AUPE3 Agency CMO Federal Home Loan Mortgage Corporation 06/25/2022 ---379,000.00 366,344.03 ---379,958.87 8,536.55 2.396 2.325 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378CRT6 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 10/20/2040 05/22/2014 85,600.51 82,657.99 ---84,824.97 1,808.05 2.000 2.296 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376T5Z1 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 01/16/2039 01/26/2015 128,091.10 133,823.18 ---131,639.23 (1,400.25) 3.000 2.092 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377RSZ9 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 06/16/2039 01/21/2015 36,011.60 38,165.42 ---37,278.49 (483.96) 4.500 1.300 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378BX20 Agency CMO Government National Mortgage Association 06/16/2051 03/17/2015 56,459.22 55,203.41 ---54,408.62 (773.03) 1.240 2.008 AAA 256350023 LC-Sr Lien Reserve Fund-1 38380AZ34 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 04/20/2046 11/28/2016 174,496.23 179,372.14 ---177,875.43 (2,016.89) 3.000 2.624 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378B7E3 Agency CMO Government National Mortgage Association 05/16/2046 ---286,665.84 276,780.70 ---271,710.49 (5,404.18) 1.744 2.691 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 04/20/2039 ---146,940.68 151,084.86 ---150,712.65 693.38 3.000 2.063 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137ASNH3 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2021 07/03/2013 288,215.94 281,652.27 ---285,290.55 842.17 1.459 1.889 AAA 256350023 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 ---395,983.55 13,716.81 2.482 2.473 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378B7F0 Agency CMO Government National Mortgage Association 12/16/2042 ---450,000.00 427,324.22 ---434,479.50 6,090.84 2.273 2.891 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376WA62 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 10/20/2039 01/21/2015 89,796.54 94,276.39 ---95,354.94 684.17 4.000 1.467 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378TAF7 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 07/20/2041 07/05/2013 192,218.07 192,247.05 ---194,903.36 2,810.40 2.500 2.063 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137ATRW4 Agency CMO Federal Home Loan Mortgage Corporation 05/25/2022 12/21/2016 125,000.00 124,804.69 ---125,220.00 414.95 2.373 2.317 AAA 256350023 LC-Sr Lien Reserve Fund-1 31395EZP5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2019 07/09/2013 46,687.26 49,393.66 ---47,976.76 98.93 4.500 1.081 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KXW4 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 02/16/2037 12/11/2014 187,936.47 187,026.16 ---185,130.58 (1,962.32) 1.705 2.145 AAA 256350023 LC-Sr Lien Reserve Fund-1 31413XVG5 Agency MBS Federal National Mortgage Association 06/01/2019 08/04/2014 200,000.00 218,500.00 ---203,028.00 (6,213.65) 4.506 3.770 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138L76A9 Agency MBS Federal National Mortgage Association/Fannie Mae 11/01/2021 10/04/2016 125,000.00 129,511.72 ---126,515.00 (2,789.84) 2.590 2.286 AAA 256350023 LC-Sr Lien Reserve Fund-1 38379KDN5 Agency MBS Government National Mortgage Association 09/16/2055 08/05/2015 184,517.28 179,803.43 ---178,481.72 (1,698.68) 2.103 2.607 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136A4M48 Agency MBS Federal National Mortgage Association 01/25/2022 07/05/2013 304,118.99 304,974.32 ---304,389.65 1.51 2.098 2.048 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381PEB0 Agency MBS Federal National Mortgage Association 11/01/2020 09/26/2014 260,287.58 274,074.69 ---272,992.22 4,168.87 3.370 1.949 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KRS0 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 07/16/2043 05/08/2015 450,000.00 434,460.94 ---436,653.00 1,431.16 2.389 2.742 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KWU9 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 11/16/2041 ---81,643.04 79,725.84 ---78,541.42 (1,281.84) 1.400 2.465 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378XP62 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 05/16/2055 05/14/2015 384,307.02 389,050.81 ---379,510.86 (9,237.67) 2.500 2.673 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138EKXL4 Agency MBS Federal National Mortgage Association/Fannie Mae 03/01/2023 12/21/2016 291,984.66 288,699.84 ---292,072.26 3,393.79 2.356 2.331 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137B1U75 Agency MBS Federal Home Loan Mortgage Corporation 01/25/2023 08/29/2016 380,000.00 394,917.97 ---380,364.80 (13,696.22) 2.522 2.483 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381T4E7 Agency MBS Federal National Mortgage Association/Fannie Mae 03/01/2022 10/25/2016 274,151.50 286,434.78 ---278,705.16 (7,367.80) 2.670 2.283 AAA 256350023 LC-Sr Lien Reserve Fund-1 31404WTT3 Agency MBS Federal National Mortgage Association 05/01/2019 12/31/2013 0.01 0.01 ---0.01 (0.00) 4.500 1.489 AAA 256350023 LC-Sr Lien Reserve Fund-1 31417YKF3 Agency MBS Federal National Mortgage Association 01/01/2030 07/10/2013 109,244.49 115,252.93 ---117,497.91 2,220.70 4.500 2.393 AAA 256350023 LC-Sr Lien Reserve Fund-1 31385XBG1 Agency MBS Federal National Mortgage Association 03/01/2018 09/13/2013 2,414.54 2,571.48 ---2,427.62 (7.58) 6.000 1.924 AAA 28 Page 9 of 32 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 December 31, 2016 256350023 LC-Sr Lien Reserve Fund-1 38378KSL4 Agency MBS The Government National Mortgage Association Guaranteed REMIC Pass- Through Securities 12/16/2046 ---425,000.00 415,829.11 ---406,448.75 (9,599.75) 2.785 3.011 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138EJPZ5 Agency MBS Federal National Mortgage Association 07/01/2022 08/29/2016 337,153.97 358,107.56 ---348,010.33 (8,741.66) 2.973 2.090 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138L33G8 Agency MBS Federal National Mortgage Association/Fannie Mae 06/01/2020 11/12/2015 100,000.00 99,875.00 ---100,184.00 332.09 2.010 1.923 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381Q6B7 Agency MBS Federal National Mortgage Association/Fannie Mae 06/01/2021 07/15/2016 190,238.67 210,986.58 ---205,743.12 (3,400.65) 4.295 2.231 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378B6A2 Agency MBS Government National Mortgage Association 11/16/2052 01/22/2015 130,179.62 126,075.90 ---125,564.75 (533.66) 1.826 2.693 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136A7MN9 Agency MBS Federal National Mortgage Association 05/25/2022 08/29/2016 300,000.00 308,578.13 ---296,244.00 (11,826.83) 2.349 2.487 AAA 256350023 LC-Sr Lien Reserve Fund-1 36202F2H8 Agency MBS Ginnie Mae II 01/20/2027 11/14/2016 237,469.41 246,448.73 ---245,184.80 (1,308.75) 3.000 2.047 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136AHAE0 Agency MBS Federal National Mortgage Association/Fannie Mae 04/25/2023 10/28/2016 235,396.90 240,472.65 ---232,715.73 (7,638.62) 2.505 2.605 AAA 256350023 LC-Sr Lien Reserve Fund-1 3128MMAK9 Agency MBS Federal Home Loan Mortgage Corporation 09/01/2019 07/08/2013 0.01 0.01 ---0.01 (0.00) 5.000 1.663 AAA 256350023 LC-Sr Lien Reserve Fund-1 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 12/31/2016 ---- 19,523.51 ---19,523.51 - 0.000 0.000 NA 256350023 LC-Sr Lien Reserve Fund-1 912828WU0 TIPS Treasury, United States Department of 07/15/2024 02/05/2016 397,020.00 386,463.42 ---390,032.45 2,472.52 0.125 0.362 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828B58 US Gov Treasury, United States Department of 01/31/2021 ---1,640,000.00 1,677,556.65 ---1,661,844.80 (7,695.02) 2.125 1.785 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828UF5 US Gov Treasury, United States Department of 12/31/2019 11/16/2015 250,000.00 246,132.81 ---247,567.50 404.09 1.125 1.457 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828VV9 US Gov Treasury, United States Department of 08/31/2020 ---235,000.00 241,525.78 ---238,799.95 (1,415.03) 2.125 1.668 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828VB3 US Gov Treasury, United States Department of 05/15/2023 07/05/2013 1,600,000.00 1,487,125.00 ---1,558,368.00 34,517.97 1.750 2.189 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828XB1 US Gov Treasury, United States Department of 05/15/2025 05/24/2016 1,200,000.00 1,228,546.88 ---1,176,372.00 (50,402.21) 2.125 2.386 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828RC6 US Gov Treasury, United States Department of 08/15/2021 ---1,775,000.00 1,804,427.73 ---1,791,844.75 (8,274.89) 2.125 1.910 AAA 17,642,718.76 29 Page 10 of 32 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 205091001 LC-2013 A Capitalized Interest 9AMMF05B2 U.S. BANK MONEY MARKET ACCOUNT FUND 314,740.99 18,320,825.53 (18,525,689.99) - - - - - 109,876.53 - 205091001 LC-2013 A Capitalized Interest 313384P78 FEDERAL HOME LOAN BANKS - 184,969.48 - (185,000.00) - - 30.52 - - - 205091001 LC-2013 A Capitalized Interest 313384P78 FEDERAL HOME LOAN BANKS - 1,599,729.10 - (1,600,000.00) - - 270.90 - - - 205091001 LC-2013 A Capitalized Interest 31392HWL3 FNR 033D BC 15,292.52 - - - (3,718.99) (52.25) (11.61) (79.74) 11,429.93 46.84 205091001 LC-2013 A Capitalized Interest 31392F6C6 FNR 0277C CB 89,503.20 - - - (25,686.94) (358.01) (118.24) (304.00) 63,036.01 259.58 205091001 LC-2013 A Capitalized Interest 31393EXC8 FNR 0388E TH 150,541.68 - - - (29,111.13) (561.85) (77.57) 349.97 121,141.10 442.67 205091001 LC-2013 A Capitalized Interest 912828UB4 UNITED STATES TREASURY 2,504,975.00 - (1,234,716.80) - - 7,523.65 2,963.64 (45,783.00) 1,234,962.50 1,098.90 205091001 LC-2013 A Capitalized Interest 89236TAY1 TOYOTA MOTOR CREDIT CORP 2,029,260.00 - - - - - (1,770.18) (15,649.82) 2,011,840.00 7,444.44 205091001 LC-2013 A Capitalized Interest 89114QAE8 TORONTO DOMINION BANK 750,442.50 - - (750,000.00) - - (404.69) (37.81) - - 205091001 LC-2013 A Capitalized Interest 912828UA6 UNITED STATES TREASURY 1,748,635.00 - - - - - 2,875.94 (5,605.94) 1,745,905.00 961.54 205091001 LC-2013 A Capitalized Interest 912796KU2 UNITED STATES TREASURY - 4,091,056.99 - - - - 734.13 90.88 4,091,882.00 - 205091001 LC-2013 A Capitalized Interest 31402RBG3 FN 735439 76,629.95 - - - (20,916.77) (666.48) (26.26) 66.67 55,087.12 268.17 205091001 LC-2013 A Capitalized Interest 31402RBG3 FN 735439 3,572.43 - - - (975.12) (30.08) (1.20) 2.09 2,568.12 12.50 205091001 LC-2013 A Capitalized Interest 31402RBG3 FN 735439 5,908.60 - - - (1,612.80) (46.42) (1.90) 0.04 4,247.52 20.68 205091001 LC-2013 A Capitalized Interest 30231GAL6 EXXON MOBIL CORP 581,757.40 - - - - - 60.92 (1,957.52) 579,860.80 2,417.88 205091001 LC-2013 A Capitalized Interest 31392FPP6 FNR 0274C PE 53,170.42 - - - (15,675.48) (201.78) (65.33) (182.69) 37,045.14 152.74 205091001 LC-2013 A Capitalized Interest 3136A8G38 FN 12M13A A2 1,687,349.72 - (1,283,844.47) - (403,958.51) 5,787.19 913.05 (6,246.98) - - 205091001 LC-2013 A Capitalized Interest 31410GSQ7 FN 888927 37,695.66 - - - (12,856.06) (237.28) (154.87) 116.54 24,563.99 121.62 205091001 LC-2013 A Capitalized Interest 3128MBTH0 FH G13052 53,478.03 - - - (10,127.42) (252.58) (151.23) 12.54 42,959.33 174.72 205091001 LC-2013 A Capitalized Interest 3130A7P82 FEDERAL HOME LOAN BANKS 700,014.00 - - (700,000.00) - - (7.57) (6.43) - - 205091001 LC-2013 A Capitalized Interest 36290WH47 GN 619551 464,552.92 - - - (71,959.60) (1,911.47) (1,458.40) 3,342.94 392,566.39 1,440.72 205091001 LC-2013 A Capitalized Interest 3128H4NR6 FH E96700 36,662.10 - - - (8,971.53) (188.27) (108.03) (21.65) 27,372.62 111.33 205091001 LC-2013 A Capitalized Interest 3128PGLY7 FH J04843 46,191.98 - - - (22,252.65) (168.66) (127.40) (372.79) 23,270.48 94.64 205091001 LC-2013 A Capitalized Interest 912828UZ1 UNITED STATES TREASURY 3,394,424.00 - (1,292,738.28) - - 247.64 2,911.70 (15,093.06) 2,089,752.00 2,247.93 205091001 LC-2013 A Capitalized Interest 822582AC6 SHELL INTERNATIONAL FINANCE BV 408,148.00 - - - - - (3,526.95) (1,349.05) 403,272.00 5,720.00 205091001 LC-2013 A Capitalized Interest 184126YS3 CLAYTON CNTY & CLAYTON CNTY GA WTR AUTH WTR & SEW 772,941.40 - - - - - 962.42 (3,464.92) 770,438.90 1,668.33 205091001 LC-2013 A Capitalized Interest 64966H4E7 NEW YORK N Y 1,196,687.70 - - - - - (4,195.18) (5,995.52) 1,186,497.00 9,184.50 205091001 LC-2013 A Capitalized Interest 037833AJ9 APPLE INC 2,995,830.00 - - - - - 3,489.98 (10,569.98) 2,988,750.00 4,833.33 205091001 LC-2013 A Capitalized Interest 912828M23 UNITED STATES TREASURY 800,768.00 - - - - - 229.60 74.40 801,072.00 890.16 205091001 LC-2013 A Capitalized Interest 084664BE0 BERKSHIRE HATHAWAY FINANCE CORP 853,728.00 - - - - - (7,882.60) (3,893.40) 841,952.00 5,520.00 205091001 LC-2013 A Capitalized Interest 31392BVM5 FNR 023C PG 2,223.54 - - - (2,217.46) (7.40) (2.90) 4.22 - - 205091001 LC-2013 A Capitalized Interest 912828J84 UNITED STATES TREASURY 2,431,416.00 - (1,692,164.06) - - 7,917.69 1,170.42 (52,001.05) 696,339.00 2,459.13 205091001 LC-2013 A Capitalized Interest 912828J84 UNITED STATES TREASURY 1,317,017.00 - - - - - 898.93 (24,714.93) 1,293,201.00 4,566.96 205091001 LC-2013 A Capitalized Interest 3130A3CE2 FEDERAL HOME LOAN BANKS 275,027.50 - - (275,000.00) - - (25.54) (1.96) - - 205091001 LC-2013 A Capitalized Interest 89153VAC3 TOTAL CAPITAL INTERNATIONAL SA 160,456.00 - - - - - 145.10 (337.10) 160,264.00 20.67 205091001 LC-2013 A Capitalized Interest 90327QCW7 USAA CAPITAL CORP 4,010,600.00 - - (4,000,000.00) - - (8,709.99) (1,890.01) - - 205091001 LC-2013 A Capitalized Interest 31294LPZ0 FH E02240 4,683.71 - - - (4,673.21) (6.60) (9.20) 5.29 - - 205091001 LC-2013 A Capitalized Interest 912828RU6 UNITED STATES TREASURY 3,353,618.00 - - (3,350,000.00) - - 146.92 (3,764.92) - - 205091001 LC-2013 A Capitalized Interest 36200AFG9 GN 595167 11,505.15 - - - (3,440.64) (61.21) (32.71) 26.60 7,997.19 36.30 205091001 LC-2013 A Capitalized Interest 235219JS2 DALLAS TEX 2,142,451.15 - - - - - - (6,127.45) 2,136,323.70 12,816.17 205091001 LC-2013 A Capitalized Interest 31393V2T7 FHR 2627E GY 279,177.86 - - - (58,170.70) (953.34) 384.20 (501.41) 219,936.61 805.81 205091001 LC-2013 A Capitalized Interest 313384P52 FEDERAL HOME LOAN BANKS - 699,889.75 - (700,000.00) - - 110.25 - - - 205091001 LC-2013 A Capitalized Interest 31402QT68 FN 735073 111,916.45 - - - (23,375.20) (962.30) (144.41) (149.12) 87,285.41 422.27 205091001 LC-2013 A Capitalized Interest 3128GNR59 FH E85908 2,500.38 - - - (2,502.08) (0.00) - 1.70 - - 205091001 LC-2013 A Capitalized Interest 31401MWC1 FN 712643 356,159.34 - - - (80,054.49) (1,674.00) (989.30) 1,341.60 274,783.15 1,002.61 205091001 LC-2013 A Capitalized Interest 3128PHVS7 FH J06025 25,687.32 - - - (6,320.39) (113.45) (33.02) (77.13) 19,143.33 77.86 205091001 LC-2013 A Capitalized Interest 3132FEAK7 FH Z50010 52,149.81 - - - (13,041.34) (239.02) (184.63) (35.47) 38,649.35 157.19 205091001 LC-2013 A Capitalized Interest 3137EADS5 FREDDIE MAC 320,054.40 - - (320,000.00) - - (55.78) 1.38 - - 36,629,544.82 24,896,470.85 (24,029,153.60) (11,880,000.00) (821,618.51) 12,783.74 (11,978.07) (200,777.99) 24,595,271.23 67,498.19 256350001 LC-Project Fund-2 Senior Lien 9AMMF05B2 U.S. BANK MONEY MARKET ACCOUNT FUND 12,392,547.06 15,727,957.06 (28,048,111.21) - - - - - 72,392.91 - 256350001 LC-Project Fund-2 Senior Lien 313385AV8 FEDERAL HOME LOAN BANKS - 299,916.00 - - - - 8.00 22.00 299,946.00 - 256350001 LC-Project Fund-2 Senior Lien 43357LL75 Hitachi Capital America Corp.- 999,241.67 - (1,000,000.00) - - 758.33 - - - 256350001 LC-Project Fund-2 Senior Lien 06538BNH2 The Bank of Tokyo-Mitsubishi UFJ, Ltd.- 997,827.78 - - - - 1,794.44 97.78 999,720.00 - 256350001 LC-Project Fund-2 Senior Lien 313385AD8 FEDERAL HOME LOAN BANKS - 599,970.00 - - - - 12.00 12.00 599,994.00 - 256350001 LC-Project Fund-2 Senior Lien 313385AD8 FEDERAL HOME LOAN BANKS - 399,975.28 - - - - 9.89 10.83 399,996.00 - 256350001 LC-Project Fund-2 Senior Lien 78355ALJ1 Ryder System, Inc.- 999,342.22 - (1,000,000.00) - - 657.78 - - - 256350001 LC-Project Fund-2 Senior Lien 22533TNH5 Credit Agricole Corporate and Investment Bank - 997,776.67 - - - - 1,836.66 106.67 999,720.00 - 256350001 LC-Project Fund-2 Senior Lien 83700EKQ0 South Carolina Electric & Gas Company 999,690.00 - - (1,000,000.00) - - 511.11 (201.11) - - 256350001 LC-Project Fund-2 Senior Lien 83700EM62 South Carolina Electric & Gas Company - 999,104.17 (749,868.50) (250,000.00) - (6.50) 770.83 - - - 256350001 LC-Project Fund-2 Senior Lien 57708LME5 Mattel, Inc.- 999,510.00 - (1,000,000.00) - - 490.00 - - - 256350001 LC-Project Fund-2 Senior Lien 69372ALA8 PACCAR Financial Corp.- 999,633.33 - (1,000,000.00) - - 366.67 - - - 256350001 LC-Project Fund-2 Senior Lien 65475LKJ0 Nissan Motor Acceptance Corporation 1,099,758.00 - - (1,100,000.00) - - 363.61 (121.61) - - 256350001 LC-Project Fund-2 Senior Lien 14912DM89 Caterpillar Financial Services Corporation - 999,146.11 (999,838.89) - - (13.89) 706.67 - - - 256350001 LC-Project Fund-2 Senior Lien 63873JNH9 Natixis - 997,725.00 - - - - 1,875.00 120.00 999,720.00 - 256350001 LC-Project Fund-2 Senior Lien 92780JMG3 Virginia Electric and Power Company - 998,570.00 - (1,000,000.00) - - 1,430.00 - - - 256350001 LC-Project Fund-2 Senior Lien 43357LKB7 Hitachi Capital America Corp.1,099,868.00 - - (1,100,000.00) - - 311.67 (179.67) - - 256350001 LC-Project Fund-2 Senior Lien 313385AN6 FEDERAL HOME LOAN BANKS - 324,943.13 - - - - 8.12 13.00 324,964.25 - 256350001 LC-Project Fund-2 Senior Lien 313385AN6 FEDERAL HOME LOAN BANKS - 499,913.47 - - - - 12.36 19.17 499,945.00 - 256350001 LC-Project Fund-2 Senior Lien 3454G0KK3 Ford Motor Credit Company LLC 1,099,736.00 - - (1,100,000.00) - - 473.00 (209.00) - - 256350001 LC-Project Fund-2 Senior Lien 74433GNB8 Prudential Funding LLC - 998,250.00 - - - - 1,541.67 48.33 999,840.00 - 256350001 LC-Project Fund-2 Senior Lien 06538BN58 The Bank of Tokyo-Mitsubishi UFJ, Ltd.- 999,873.61 - - - - 54.17 32.22 999,960.00 - 256350001 LC-Project Fund-2 Senior Lien 313397AJ0 FEDERAL HOME LOAN MORTGAGE CORP - 399,950.56 - - - - 9.89 15.55 399,976.00 - 256350001 LC-Project Fund-2 Senior Lien 88513AKQ4 Thomson Reuters Corporation 999,690.00 - - (1,000,000.00) - - 606.94 (296.94) - - 256350001 LC-Project Fund-2 Senior Lien 91324PCJ9 UNITEDHEALTH GROUP INC 290,275.50 - - - - - (38.61) (187.59) 290,049.30 814.26 256350001 LC-Project Fund-2 Senior Lien 13607EMG1 CIBC World Markets Corp.- 999,581.11 - (1,000,000.00) - - 418.89 - - - 256350001 LC-Project Fund-2 Senior Lien 0255E2KC3 American Electric Power Company, Inc.1,099,857.00 - - (1,100,000.00) - - 302.50 (159.50) - - 256350001 LC-Project Fund-2 Senior Lien 44890MK43 Hyundai Capital America 824,991.75 - - (825,000.00) - - 48.81 (40.56) - - 256350001 LC-Project Fund-2 Senior Lien 313385AF3 FEDERAL HOME LOAN BANKS - 349,961.11 - - - - 14.58 13.81 349,989.50 - 256350001 LC-Project Fund-2 Senior Lien 313385AF3 FEDERAL HOME LOAN BANKS - 499,956.74 - - - - 12.36 15.90 499,985.00 - 256350001 LC-Project Fund-2 Senior Lien 74451KLH5 Public Service Company of North Carolina, Incorpor - 999,513.33 - (1,000,000.00) - - 486.67 - - - 256350001 LC-Project Fund-2 Senior Lien 313385AT3 FEDERAL HOME LOAN BANKS - 299,924.00 - - - - 8.00 20.00 299,952.00 - STAMP Portfolio Transaction Report by Account Quarter ended December 31, 2016 ATTACHMENT 4 30 Page 11 of 32 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 December 31, 2016 256350001 LC-Project Fund-2 Senior Lien 46640PNL3 J.P. Morgan Securities LLC - 808,034.40 - - - - 1,555.20 135.00 809,724.60 - 256350001 LC-Project Fund-2 Senior Lien 58507AKH5 Medtronic Global Holdings S.C.A.1,099,769.00 - - (1,100,000.00) - - 356.89 (125.89) - - 21,006,182.31 34,195,596.75 (29,797,818.60) (15,575,000.00) - (20.39) 17,774.10 (839.62) 9,845,874.56 814.26 256350004 LC-PF-2 Sales Tax Revenue Bond 9AMMF05B2 U.S. BANK MONEY MARKET ACCOUNT FUND 57.12 - - - - - - - 57.12 - 256350005 LC-Project Fund-Toll 2 9AMMF05B2 U.S. BANK MONEY MARKET ACCOUNT FUND 2,409,828.30 28,803,856.27 (30,850,587.80) - - - - - 363,096.77 - 256350005 LC-Project Fund-Toll 2 55315FAB6 MMAF 16A A2 275,500.50 - - - - - 0.67 (402.17) 275,099.00 169.89 256350005 LC-Project Fund-Toll 2 93884EL94 Washington Gas Light Company - 674,900.06 - (675,000.00) - - 99.94 - - - 256350005 LC-Project Fund-Toll 2 161571FK5 CHAIT 124 A 151,317.00 - - - - - 110.47 (2,406.97) 149,020.50 105.33 256350005 LC-Project Fund-Toll 2 00138CAA6 AIG GLOBAL FUNDING 401,640.00 - (401,464.00) - - 525.57 (151.95) (549.62) - - 256350005 LC-Project Fund-Toll 2 00138CAA6 AIG GLOBAL FUNDING 301,230.00 - (301,098.00) - - 803.05 (47.71) (887.34) - - 256350005 LC-Project Fund-Toll 2 912828TG5 UNITED STATES TREASURY 24,976.50 - - - - - 9.76 (11.76) 24,974.50 52.31 256350005 LC-Project Fund-Toll 2 912828TG5 UNITED STATES TREASURY 699,342.00 - - - - - 754.57 (810.57) 699,286.00 1,464.67 256350005 LC-Project Fund-Toll 2 912828TG5 UNITED STATES TREASURY 874,177.50 - - - - - 610.74 (680.74) 874,107.50 1,830.84 256350005 LC-Project Fund-Toll 2 36225FGM5 G2 082903 98,240.08 - (91,297.83) - (6,717.73) (304.79) (22.75) 103.01 - - 256350005 LC-Project Fund-Toll 2 865622CB8 SUMITOMO MITSUI BANKING CORP 251,262.50 - - - - - - 67.50 251,330.00 948.79 256350005 LC-Project Fund-Toll 2 3454G0K56 Ford Motor Credit Company LLC 599,982.00 - - (600,000.00) - - 48.67 (30.67) - - 256350005 LC-Project Fund-Toll 2 500769FZ2 KFW 289,997.10 - (290,005.80) - - 25.82 55.06 (72.18) - - 256350005 LC-Project Fund-Toll 2 500769FZ2 KFW 249,997.50 - (250,005.00) - - 16.90 32.72 (42.12) - - 256350005 LC-Project Fund-Toll 2 955116AZ1 WEST PALM BEACH FLA SPL OBLIG 230,046.00 - - - - - 29.23 (797.43) 229,277.80 632.50 256350005 LC-Project Fund-Toll 2 3137AH6Q6 FHMS K704 A2 479,291.58 - - - (2,383.60) (48.89) (1,523.31) (1,341.93) 473,993.84 940.99 256350005 LC-Project Fund-Toll 2 22546QAM9 CREDIT SUISSE AG (NEW YORK BRANCH)255,066.30 - - - - - 132.58 (2.53) 255,196.35 343.68 256350005 LC-Project Fund-Toll 2 22546QAM9 CREDIT SUISSE AG (NEW YORK BRANCH)300,078.00 - - - - - 34.36 118.64 300,231.00 404.33 256350005 LC-Project Fund-Toll 2 298785GK6 EUROPEAN INVESTMENT BANK 275,035.75 - - - - - (85.76) (131.49) 274,818.50 487.93 256350005 LC-Project Fund-Toll 2 298785GK6 EUROPEAN INVESTMENT BANK 300,039.00 - - - - - (49.24) (187.76) 299,802.00 532.29 256350005 LC-Project Fund-Toll 2 26442CAD6 DUKE ENERGY CAROLINAS LLC 123,081.80 - - - - - (1,020.64) (838.84) 121,222.32 1,248.93 256350005 LC-Project Fund-Toll 2 02582JGG9 AMXCA 132 A 300,939.00 - - - - - 280.58 (298.58) 300,921.00 159.22 256350005 LC-Project Fund-Toll 2 74368CAD6 PROTECTIVE LIFE GLOBAL FUNDING 294,548.65 - (291,221.05) - - (3,778.95) - 451.35 - - 256350005 LC-Project Fund-Toll 2 36159LBW5 GEDFT 122 A 300,744.00 - - - - - (172.99) (226.01) 300,345.00 148.90 256350005 LC-Project Fund-Toll 2 36159LBW5 GEDFT 122 A - 200,507.81 - - - - (223.96) (53.85) 200,230.00 99.27 256350005 LC-Project Fund-Toll 2 38378NNA7 GNR 13194 AB 520,724.57 - - - (58,598.90) (374.47) (39.93) (2,964.49) 458,746.79 860.94 256350005 LC-Project Fund-Toll 2 828807CM7 SIMON PROPERTY GROUP LP 401,236.00 - (399,856.00) - - (774.76) (123.67) (481.57) - - 256350005 LC-Project Fund-Toll 2 828807CM7 SIMON PROPERTY GROUP LP 140,432.60 - (139,949.60) - - 182.38 35.77 (701.15) - - 256350005 LC-Project Fund-Toll 2 912828KD1 UNITED STATES TREASURY 731,717.00 - - - - - (2,710.66) (7,019.34) 721,987.00 7,271.06 256350005 LC-Project Fund-Toll 2 912828KD1 UNITED STATES TREASURY 653,318.75 - - - - - (2,411.81) (6,275.69) 644,631.25 6,492.02 256350005 LC-Project Fund-Toll 2 912828KD1 UNITED STATES TREASURY 324,046.10 - - - - - (1,128.72) (3,180.28) 319,737.10 3,220.04 256350005 LC-Project Fund-Toll 2 912828KD1 UNITED STATES TREASURY 313,593.00 - - - - - (1,062.88) (3,107.12) 309,423.00 3,116.17 256350005 LC-Project Fund-Toll 2 65478QAD0 NALT 16A A3 155,331.70 - - - - - 0.89 (225.64) 155,106.95 102.64 256350005 LC-Project Fund-Toll 2 58769AAD8 MBALT 15B A3 255,527.85 - - - - - 1.29 (335.34) 255,193.80 151.87 256350005 LC-Project Fund-Toll 2 58769AAD8 MBALT 15B A3 170,351.90 - - - - - (98.83) (123.87) 170,129.20 101.24 256350005 LC-Project Fund-Toll 2 58769AAD8 MBALT 15B A3 175,362.25 - - - - - (101.73) (127.52) 175,133.00 104.22 256350005 LC-Project Fund-Toll 2 71112JL10 The Peoples Gas Light And Coke Company - 1,499,903.34 - (1,500,000.00) - - 96.66 - - - 256350005 LC-Project Fund-Toll 2 74153WCE7 PRICOA GLOBAL FUNDING I 199,974.00 - - - - - (113.70) 243.70 200,104.00 997.50 256350005 LC-Project Fund-Toll 2 74153WCE7 PRICOA GLOBAL FUNDING I 299,961.00 - - - - - 56.29 138.71 300,156.00 1,496.25 256350005 LC-Project Fund-Toll 2 59562VAT4 BERKSHIRE HATHAWAY ENERGY CO 159,796.50 - (158,121.00) - - (143.78) (1,107.28) (424.44) - - 256350005 LC-Project Fund-Toll 2 59562VAT4 BERKSHIRE HATHAWAY ENERGY CO 372,858.50 - (368,949.00) - - (1,690.11) (2,769.60) 550.21 - - 256350005 LC-Project Fund-Toll 2 90290KAD7 USAOT 141 A4 445,035.60 - - - (107,498.74) 86.68 75.90 (292.68) 337,406.77 141.00 256350005 LC-Project Fund-Toll 2 43814KAC5 HAROT 151 A3 572,012.29 - - - (131,646.83) (14.44) (9.52) (437.18) 439,904.32 205.41 256350005 LC-Project Fund-Toll 2 38378BR35 GNR 12142 AB 328,679.75 - - - (6,258.23) 138.31 74.43 (4,075.27) 318,558.99 365.85 256350005 LC-Project Fund-Toll 2 928668AF9 VOLKSWAGEN GROUP OF AMERICA FINANCE LLC 299,340.00 - (299,238.00) - - (971.42) (39.07) 908.49 - - 256350005 LC-Project Fund-Toll 2 83700ENK0 South Carolina Electric & Gas Company - 3,097,588.88 - - - - 861.11 558.01 3,099,008.00 - 256350005 LC-Project Fund-Toll 2 36225FLU1 G2 083038 209,778.79 - (193,944.63) - (14,634.60) (476.89) (46.12) (676.56) - - 256350005 LC-Project Fund-Toll 2 3136A7L26 FN 12M9 AQ2 98,728.36 - (84,441.59) - (14,175.06) (103.71) (61.50) 53.49 - - 256350005 LC-Project Fund-Toll 2 3136A7L26 FN 12M9 AQ2 259,984.67 - (222,362.86) - (37,327.65) (418.36) (186.10) 310.29 - - 256350005 LC-Project Fund-Toll 2 037833BR0 APPLE INC 152,331.00 - - - - - - (259.50) 152,071.50 282.72 256350005 LC-Project Fund-Toll 2 037833BR0 APPLE INC 304,662.00 - - - - - (411.91) (107.09) 304,143.00 565.44 256350005 LC-Project Fund-Toll 2 05582XAD4 BMWLT 162 A3 - 544,927.95 - - - - 8.29 287.21 545,223.45 238.13 256350005 LC-Project Fund-Toll 2 31397SRT3 FNR 1124B PC 258,664.51 - (235,706.67) - (23,022.76) (2,125.36) (342.25) 2,532.54 - - 256350005 LC-Project Fund-Toll 2 3138EKUP8 FN AL3289 168,083.15 - (150,794.12) - (17,768.55) (1,415.36) (296.20) 2,191.09 - - 256350005 LC-Project Fund-Toll 2 83700EM62 South Carolina Electric & Gas Company - 999,104.17 - (1,000,000.00) - - 895.83 - - - 256350005 LC-Project Fund-Toll 2 912828UF5 UNITED STATES TREASURY 653,659.50 - - - - - (215.09) (9,768.91) 643,675.50 20.20 256350005 LC-Project Fund-Toll 2 912828UF5 UNITED STATES TREASURY 779,363.25 - - - - - (84.91) (11,819.09) 767,459.25 24.08 256350005 LC-Project Fund-Toll 2 912828UF5 UNITED STATES TREASURY 2,363,230.50 - - - - - 233.27 (36,329.27) 2,327,134.50 73.03 256350005 LC-Project Fund-Toll 2 891145W59 TORONTO DOMINION BANK 459,333.00 - - - - - (942.43) (4,808.57) 453,582.00 2,700.00 256350005 LC-Project Fund-Toll 2 06367XF30 BANK OF MONTREAL 498,655.00 - - - - - (46.45) (11,923.55) 486,685.00 388.89 256350005 LC-Project Fund-Toll 2 912828UR9 UNITED STATES TREASURY 565,175.15 - - - - - (63.04) (1,434.21) 563,677.90 1,439.81 256350005 LC-Project Fund-Toll 2 912828UR9 UNITED STATES TREASURY 480,148.80 - - - - - (59.50) (1,212.50) 478,876.80 1,223.20 256350005 LC-Project Fund-Toll 2 912828UR9 UNITED STATES TREASURY 1,705,528.55 - - - - - 541.86 (5,060.11) 1,701,010.30 4,344.92 256350005 LC-Project Fund-Toll 2 40428HPQ9 HSBC USA INC 145,297.25 - (144,765.10) - - 104.29 49.08 (685.51) - - 256350005 LC-Project Fund-Toll 2 40428HPQ9 HSBC USA INC 250,512.50 - (249,595.00) - - (417.36) (1.79) (498.35) - - 256350005 LC-Project Fund-Toll 2 3137A85H7 FHR 3820F GJ 129,664.06 - - - (12,262.63) (468.60) 242.59 (1,362.26) 115,813.16 326.94 256350005 LC-Project Fund-Toll 2 38141GRC0 GOLDMAN SACHS GROUP INC 505,525.00 - (502,585.00) - - (1,187.74) (777.76) (974.50) - - 256350005 LC-Project Fund-Toll 2 38141GRC0 GOLDMAN SACHS GROUP INC 80,884.00 - (80,413.60) - - (19.45) (89.15) (361.80) - - 256350005 LC-Project Fund-Toll 2 06050TKX9 BANK OF AMERICA, N.A.254,882.70 - - - - - 415.99 (438.94) 254,859.75 152.14 256350005 LC-Project Fund-Toll 2 06050TKX9 BANK OF AMERICA, N.A.249,885.00 - - - - - 204.97 (227.47) 249,862.50 149.16 256350005 LC-Project Fund-Toll 2 3137A1LC5 FHR 3710F AB 71,453.52 - - - (8,882.17) (99.23) 5.18 (222.86) 62,254.43 103.06 256350005 LC-Project Fund-Toll 2 89114QBF4 TORONTO-DOMINION BANK 125,907.50 - - - - - - 117.50 126,025.00 412.51 256350005 LC-Project Fund-Toll 2 89114QBF4 TORONTO-DOMINION BANK 402,904.00 - - - - - (299.96) 675.96 403,280.00 1,320.03 256350005 LC-Project Fund-Toll 2 20772JL59 CONNECTICUT ST 134,539.60 - - - - - (142.08) (2,963.62) 131,433.90 1,354.17 256350005 LC-Project Fund-Toll 2 55279HAH3 MANUFACTURERS AND TRADERS TRUST CO 300,066.00 - - - - - (67.95) 232.95 300,231.00 669.68 31 Page 12 of 32 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 December 31, 2016 256350005 LC-Project Fund-Toll 2 55279HAH3 MANUFACTURERS AND TRADERS TRUST CO 250,055.00 - - - - - 190.27 (52.77) 250,192.50 558.06 256350005 LC-Project Fund-Toll 2 161571GQ1 CHAIT 147 A 120,450.00 - - - - - (63.07) (282.53) 120,104.40 73.60 256350005 LC-Project Fund-Toll 2 36159LCR5 GEDFT 151 A 109,940.60 - - - - - 116.40 105.80 110,162.80 45.43 256350005 LC-Project Fund-Toll 2 94988J5B9 WELLS FARGO BANK NA 251,160.00 - - - - - - 57.50 251,217.50 777.10 256350005 LC-Project Fund-Toll 2 94988J5B9 WELLS FARGO BANK NA 251,160.00 - - - - - (206.67) 264.17 251,217.50 777.10 256350005 LC-Project Fund-Toll 2 912828K33 UNITED STATES TREASURY 523,859.92 - (523,710.55) - - 8,486.72 332.95 (8,969.05) - - 256350005 LC-Project Fund-Toll 2 912828K33 UNITED STATES TREASURY 523,859.92 - (523,710.55) - - 8,634.38 336.10 (9,119.86) - - 256350005 LC-Project Fund-Toll 2 912828K33 UNITED STATES TREASURY 1,152,491.83 - (157,113.16) - - 1,099.43 3,553.84 (9,263.21) 990,768.73 262.66 256350005 LC-Project Fund-Toll 2 202795HU7 COMMONWEALTH EDISON CO 271,707.60 - - - - - (2,979.77) (949.78) 267,778.05 4,354.83 256350005 LC-Project Fund-Toll 2 94974BGR5 WELLS FARGO & CO 448,632.80 - - - - - (732.83) (7,398.37) 440,501.60 748.00 256350005 LC-Project Fund-Toll 2 3137ANLP8 FHMS K501 A2 3,441.34 - - - (3,444.30) (0.61) - 3.57 - - 256350005 LC-Project Fund-Toll 2 3137ANLP8 FHMS K501 A2 4,588.45 - - - (4,592.40) (0.93) - 4.88 - - 256350005 LC-Project Fund-Toll 2 55315GAC2 MMAF 15A A3 35,029.75 - - - (1,249.13) 4.13 30.29 (121.55) 33,693.49 19.55 256350005 LC-Project Fund-Toll 2 55315GAC2 MMAF 15A A3 247,209.95 - - - (8,815.29) 10.26 80.31 (705.44) 237,779.79 137.95 256350005 LC-Project Fund-Toll 2 46849LSL6 JACKSON NATIONAL LIFE GLOBAL FUNDING 151,405.50 - - - - - 6.53 (1,101.53) 150,310.50 593.75 256350005 LC-Project Fund-Toll 2 46849LSL6 JACKSON NATIONAL LIFE GLOBAL FUNDING 201,874.00 - - - - - (274.59) (1,185.41) 200,414.00 791.67 256350005 LC-Project Fund-Toll 2 46849LSL6 JACKSON NATIONAL LIFE GLOBAL FUNDING 302,811.00 - - - - - (303.23) (1,886.77) 300,621.00 1,187.50 256350005 LC-Project Fund-Toll 2 161571BQ6 CHAIT 072A A 300,150.00 - (299,876.54) - - 91.56 16.50 (381.53) - - 256350005 LC-Project Fund-Toll 2 06538BN58 The Bank of Tokyo-Mitsubishi UFJ, Ltd.- 3,499,557.64 - - - - 189.58 112.78 3,499,860.00 - 256350005 LC-Project Fund-Toll 2 02582JGS3 AMXCA 142 A 501,005.00 - (500,449.22) - - 211.61 (81.39) (686.00) - - 256350005 LC-Project Fund-Toll 2 55279HAA8 MANUFACTURERS AND TRADERS TRUST CO 399,924.00 - - - - - (2.00) (458.00) 399,464.00 1,836.67 256350005 LC-Project Fund-Toll 2 59217GAY5 METROPOLITAN LIFE GLOBAL FUNDING I 250,687.50 - - - - - (118.81) (528.69) 250,040.00 1,781.25 256350005 LC-Project Fund-Toll 2 59217GAY5 METROPOLITAN LIFE GLOBAL FUNDING I 300,825.00 - - - - - 34.44 (811.44) 300,048.00 2,137.50 256350005 LC-Project Fund-Toll 2 92780JL90 Virginia Electric and Power Company - 399,882.67 - (400,000.00) - - 117.33 - - - 256350005 LC-Project Fund-Toll 2 3137AH6B9 FHMS K015 A1 137,082.39 - (125,532.47) - (11,168.37) (549.66) (137.02) 305.14 - - 256350005 LC-Project Fund-Toll 2 3137AH6B9 FHMS K015 A1 43,083.04 - (39,453.06) - (3,510.06) (138.29) (40.81) 59.19 - - 256350005 LC-Project Fund-Toll 2 3136A2HB2 FNR 11111B PC 558,096.08 - - - (25,664.21) (533.09) (49.31) (15,476.10) 516,373.36 972.51 256350005 LC-Project Fund-Toll 2 313397AD3 FEDERAL HOME LOAN MORTGAGE CORP - 449,971.88 - - - - 11.25 12.37 449,995.50 - 256350005 LC-Project Fund-Toll 2 780082AA1 ROYAL BANK OF CANADA 318,320.10 - - - - - (274.48) (4,595.42) 313,450.20 2,395.31 256350005 LC-Project Fund-Toll 2 780082AA1 ROYAL BANK OF CANADA 682,114.50 - - - - - (605.24) (9,830.26) 671,679.00 5,132.81 256350005 LC-Project Fund-Toll 2 46625HJF8 JPMORGAN CHASE & CO 266,317.05 - - - - - (314.89) 730.94 266,733.10 891.88 256350005 LC-Project Fund-Toll 2 38141EC49 GOLDMAN SACHS GROUP INC 275,841.50 - (275,838.75) - - 424.02 (82.49) (344.27) - - 256350005 LC-Project Fund-Toll 2 842434CN0 SOUTHERN CALIFORNIA GAS CO 251,620.00 - - - - - 0.64 (1,433.14) 250,187.50 172.22 256350005 LC-Project Fund-Toll 2 3137A7JU5 FHMS K701 A2 439,167.60 - (437,525.00) - - (239.99) (1,407.37) 4.76 - - 256350005 LC-Project Fund-Toll 2 91476PPG7 UNIVERSITY OKLA REVS 82,188.00 - - - - - 23.86 (2,347.86) 79,864.00 939.60 256350005 LC-Project Fund-Toll 2 62944BBC7 BANK NEDERLANDSE GEMEENTEN NV 300,033.00 - - - - - 9.08 (24.08) 300,018.00 626.15 256350005 LC-Project Fund-Toll 2 62944BBC7 BANK NEDERLANDSE GEMEENTEN NV 275,030.25 - - - - - 98.00 (111.75) 275,016.50 573.97 256350005 LC-Project Fund-Toll 2 47787UAD5 JDOT 15 A3 506,267.55 - - - - - (184.50) (956.80) 505,126.25 296.27 256350005 LC-Project Fund-Toll 2 47787UAD5 JDOT 15 A3 95,238.45 - - - - - 8.67 (223.37) 95,023.75 55.73 256350005 LC-Project Fund-Toll 2 313385AD8 FEDERAL HOME LOAN BANKS - 299,979.50 - - - - 10.25 7.25 299,997.00 - 256350005 LC-Project Fund-Toll 2 2254EAMN0 Credit Suisse (USA), Inc.1,097,844.00 - - (1,100,000.00) - - 2,530.61 (374.61) - - 256350005 LC-Project Fund-Toll 2 58768WAD1 MBART 131 A4 282,302.36 - - - (282,206.41) (249.95) (20.87) 174.86 - - 256350005 LC-Project Fund-Toll 2 553794AA6 MUFG AMERICAS HOLDINGS CORP 300,453.00 - (299,082.00) - - (335.78) 81.68 (1,116.90) - - 256350005 LC-Project Fund-Toll 2 553794AA6 MUFG AMERICAS HOLDINGS CORP 50,075.50 - (49,847.00) - - 87.85 33.74 (350.09) - - 256350005 LC-Project Fund-Toll 2 CCYUSD Receivable - - - - - - - - 5,111.23 - 256350005 LC-Project Fund-Toll 2 3138ELY64 FN AL4332 238,878.54 - - - (16,998.33) (1,658.49) (818.86) (1,333.82) 218,069.05 1,007.83 256350005 LC-Project Fund-Toll 2 748148RV7 QUEBEC, PROVINCE OF 150,133.50 - (150,242.55) - - 470.70 9.11 (370.76) - - 256350005 LC-Project Fund-Toll 2 748148RV7 QUEBEC, PROVINCE OF 125,111.25 - (125,202.13) - - 536.55 13.36 (459.03) - - 256350005 LC-Project Fund-Toll 2 748148RV7 QUEBEC, PROVINCE OF 100,089.00 - (100,161.70) - - 150.09 (0.46) (76.92) - - 256350005 LC-Project Fund-Toll 2 166754AK7 CHEVRON PHILLIPS CHEMICAL COMPANY LLC 99,903.00 - (99,970.00) - - (67.41) (4.43) 138.85 - - 256350005 LC-Project Fund-Toll 2 166754AK7 CHEVRON PHILLIPS CHEMICAL COMPANY LLC 299,709.00 - (299,910.00) - - 91.85 23.13 86.02 - - 256350005 LC-Project Fund-Toll 2 94988J5E3 WELLS FARGO BANK NA 256,331.10 - - - - - (71.95) (407.45) 255,851.70 401.02 256350005 LC-Project Fund-Toll 2 89352HAP4 TRANSCANADA PIPELINES LTD 149,469.00 - - - - - 429.70 686.30 150,585.00 561.56 256350005 LC-Project Fund-Toll 2 302154BL2 EXPORT IMPORT BANK OF KOREA 200,240.00 - - - - - (102.82) (115.18) 200,022.00 715.88 256350005 LC-Project Fund-Toll 2 302154BL2 EXPORT IMPORT BANK OF KOREA 200,240.00 - - - - - (116.34) (101.66) 200,022.00 715.88 256350005 LC-Project Fund-Toll 2 912828UA6 UNITED STATES TREASURY 799,376.00 - - - - - 84.29 (1,332.29) 798,128.00 439.56 256350005 LC-Project Fund-Toll 2 912828UA6 UNITED STATES TREASURY 1,998,440.00 - - - - - 1,065.43 (4,185.43) 1,995,320.00 1,098.90 256350005 LC-Project Fund-Toll 2 912828UA6 UNITED STATES TREASURY 119,906.40 - - - - - 61.69 (248.89) 119,719.20 65.93 256350005 LC-Project Fund-Toll 2 912828UA6 UNITED STATES TREASURY 169,867.40 - - - - - 84.58 (349.78) 169,602.20 93.41 256350005 LC-Project Fund-Toll 2 912828UA6 UNITED STATES TREASURY 374,707.50 - - - - - 181.91 (766.91) 374,122.50 206.04 256350005 LC-Project Fund-Toll 2 05531FAP8 BB&T CORP 120,735.60 - - - - - (0.41) (69.19) 120,666.00 103.33 256350005 LC-Project Fund-Toll 2 05531FAP8 BB&T CORP 261,593.80 - - - - - (236.83) 86.03 261,443.00 223.88 256350005 LC-Project Fund-Toll 2 3137A2AZ4 FHMS K009 A1 335,046.52 - (322,022.38) - (11,828.58) (1,407.57) (805.30) 1,017.31 - - 256350005 LC-Project Fund-Toll 2 62888WAA4 NGN 10R3 1A 211,492.44 - - - (8,782.90) (29.15) (43.06) 245.85 202,883.18 151.66 256350005 LC-Project Fund-Toll 2 62888WAA4 NGN 10R3 1A 285,514.80 - - - (11,856.92) (43.45) (64.05) 341.92 273,892.30 204.75 256350005 LC-Project Fund-Toll 2 3136AEYG6 FN 13M9 AQ2 210,027.88 - (198,609.31) - (11,210.14) 75.83 (114.39) (169.87) - - 256350005 LC-Project Fund-Toll 2 65819WAC7 NORTH CAROLINA EASTN MUN PWR AGY REV 35,339.50 - - - - - (35.82) (229.83) 35,073.85 350.53 256350005 LC-Project Fund-Toll 2 65819WAC7 NORTH CAROLINA EASTN MUN PWR AGY REV 30,291.00 - - - - - (25.48) (202.22) 30,063.30 300.45 256350005 LC-Project Fund-Toll 2 65819WAC7 NORTH CAROLINA EASTN MUN PWR AGY REV 126,212.50 - - - - - - (948.75) 125,263.75 1,251.88 256350005 LC-Project Fund-Toll 2 446438RR6 HUNTINGTON NATIONAL BANK 303,747.00 - (301,293.00) - - (1,341.52) (242.70) (869.78) - - 256350005 LC-Project Fund-Toll 2 446438RR6 HUNTINGTON NATIONAL BANK 253,122.50 - (251,077.50) - - 1,266.99 16.69 (3,328.68) - - 256350005 LC-Project Fund-Toll 2 90261XHJ4 UBS AG (STAMFORD BRANCH)250,705.00 - (250,812.50) - - 135.02 (87.69) 60.17 - - 256350005 LC-Project Fund-Toll 2 90261XHJ4 UBS AG (STAMFORD BRANCH)250,705.00 - (250,812.50) - - 964.99 19.74 (877.23) - - 256350005 LC-Project Fund-Toll 2 912828B58 UNITED STATES TREASURY 442,896.75 - - - - - (583.59) (11,652.16) 430,661.00 3,779.38 256350005 LC-Project Fund-Toll 2 912828B58 UNITED STATES TREASURY 729,477.00 - - - - - (1,259.43) (18,893.57) 709,324.00 6,224.86 256350005 LC-Project Fund-Toll 2 161571HB3 CHAIT 161 A 502,145.00 - - - - - 351.69 (936.69) 501,560.00 263.00 256350005 LC-Project Fund-Toll 2 06416CAA6 BANK OF NOVA SCOTIA 432,913.50 - - - - - (784.75) (4,965.50) 427,163.25 2,759.55 256350005 LC-Project Fund-Toll 2 544587B98 LOS ANGELES CALIF MUN IMPT CORP LEASE REV 163,092.80 - (161,921.60) - - 1,921.60 - (3,092.80) - - 256350005 LC-Project Fund-Toll 2 06050TLY6 BANK OF AMERICA NA 301,245.00 - - - - - 94.30 (1,060.30) 300,279.00 1,306.25 256350005 LC-Project Fund-Toll 2 180848HP1 CLARK CNTY NEV 123,098.40 - (121,980.00) - - (92.90) (512.89) (512.60) - - 256350005 LC-Project Fund-Toll 2 69353RET1 PNC BANK NA 302,556.00 - - - - - (359.57) (1,650.43) 300,546.00 840.00 256350005 LC-Project Fund-Toll 2 69353RET1 PNC BANK NA 302,556.00 - - - - - (354.06) (1,655.94) 300,546.00 840.00 32 Page 13 of 32 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 December 31, 2016 256350005 LC-Project Fund-Toll 2 02665WBB6 AMERICAN HONDA FINANCE CORP 121,448.40 - (121,466.40) - - 1,466.40 - (1,448.40) - - 256350005 LC-Project Fund-Toll 2 02665WBB6 AMERICAN HONDA FINANCE CORP 303,621.00 - (303,666.00) - - 150.39 (95.21) (10.18) - - 256350005 LC-Project Fund-Toll 2 3133EECD0 FEDERAL FARM CREDIT BANKS FUNDING CORP 500,370.00 - - - - - (38.57) (6.43) 500,325.00 128.17 256350005 LC-Project Fund-Toll 2 45818WAN6 INTER-AMERICAN DEVELOPMENT BANK 250,045.00 - (250,035.50) - - 33.90 (5.18) (38.22) - - 256350005 LC-Project Fund-Toll 2 17401QAC5 CITIZENS BANK NA 252,887.50 - (251,920.00) - - 2,139.47 18.03 (3,125.00) - - 256350005 LC-Project Fund-Toll 2 17401QAC5 CITIZENS BANK NA 303,465.00 - (302,304.00) - - (656.53) (255.25) (249.22) - - 256350005 LC-Project Fund-Toll 2 91159HHD5 U.S. BANCORP 300,873.00 - - - - - (453.46) 9.46 300,429.00 632.50 256350005 LC-Project Fund-Toll 2 91159HHD5 U.S. BANCORP 250,727.50 - - - - - (380.56) 10.56 250,357.50 527.08 256350005 LC-Project Fund-Toll 2 912796JZ3 UNITED STATES TREASURY - 4,499,528.75 - (4,500,000.00) - 0.00 471.25 - - - 256350005 LC-Project Fund-Toll 2 78355AL85 Ryder System, Inc.- 2,799,657.00 - (2,800,000.00) - - 343.00 - - - 256350005 LC-Project Fund-Toll 2 46623EKD0 JPMORGAN CHASE & CO 250,760.00 - - - - - (107.39) (675.11) 249,977.50 1,416.67 256350005 LC-Project Fund-Toll 2 46623EKD0 JPMORGAN CHASE & CO 180,547.20 - - - - - 12.44 (575.84) 179,983.80 1,020.00 256350005 LC-Project Fund-Toll 2 46623EKD0 JPMORGAN CHASE & CO 300,912.00 - - - - - 64.54 (1,003.54) 299,973.00 1,700.00 256350005 LC-Project Fund-Toll 2 13607RAB6 CANADIAN IMPERIAL BANK OF COMMERCE 430,004.30 - (425,429.10) - - (4,499.86) 4.61 (79.95) - - 256350005 LC-Project Fund-Toll 2 89837LAA3 TRUSTEES OF PRINCETON UNIVERSITY 86,783.20 - - - - - (683.16) (707.24) 85,392.80 1,320.00 256350005 LC-Project Fund-Toll 2 89837LAA3 TRUSTEES OF PRINCETON UNIVERSITY 189,838.25 - - - - - (1,318.48) (1,723.02) 186,796.75 2,887.50 256350005 LC-Project Fund-Toll 2 74256LAT6 PRINCIPAL LIFE GLOBAL FUNDING II 361,530.00 - - - - - (304.73) 229.13 361,454.40 443.51 256350005 LC-Project Fund-Toll 2 3136A8G38 FN 12M13A A2 115,421.32 - (87,819.98) - (27,632.33) (70.12) (40.51) 141.63 - - 256350005 LC-Project Fund-Toll 2 3136A8G38 FN 12M13A A2 54,962.53 - (41,819.04) - (13,158.26) 22.77 (6.86) (1.15) - - 256350005 LC-Project Fund-Toll 2 61747YDT9 MORGAN STANLEY 304,941.00 - - - - - (2,716.34) 34.34 302,259.00 3,918.75 256350005 LC-Project Fund-Toll 2 161571GJ7 CHAIT 141 A 200,120.00 - (200,062.50) - - 6.12 (39.95) (23.67) - - 256350005 LC-Project Fund-Toll 2 161571GJ7 CHAIT 141 A 200,120.00 - (200,062.50) - - (13.67) (53.98) 10.15 - - 256350005 LC-Project Fund-Toll 2 161571GJ7 CHAIT 141 A 100,060.00 - (100,031.25) - - 13.44 (12.62) (29.57) - - 256350005 LC-Project Fund-Toll 2 58772PAC2 MBART 151 A2B 182,310.45 - (155,112.02) - (27,201.33) (36.28) (10.93) 50.12 0.01 - 256350005 LC-Project Fund-Toll 2 05531FAQ6 BB&T CORP 203,810.00 - - - - - (457.42) (1,794.58) 201,558.00 1,875.00 256350005 LC-Project Fund-Toll 2 3137AQT24 FHMS K708 A2 304,561.43 - (301,505.15) - (1,590.31) (1,299.07) (442.70) 275.80 - - 256350005 LC-Project Fund-Toll 2 3137AQT24 FHMS K708 A2 40,608.19 - (40,200.69) - (212.04) (151.02) (57.17) 12.72 - - 256350005 LC-Project Fund-Toll 2 3138L1TX7 FN AM1465 304,616.33 - (302,944.00) - (1,774.51) (306.71) (117.02) 525.91 - - 256350005 LC-Project Fund-Toll 2 58768MAD3 MBALT 16B A4 - 189,983.00 - - - - 1.34 (1,276.34) 188,708.00 128.36 256350005 LC-Project Fund-Toll 2 3133XY2H7 FEDERAL HOME LOAN BANKS 238,245.99 - - - (17,708.08) (136.23) (958.83) (139.31) 219,303.54 193.12 256350005 LC-Project Fund-Toll 2 13063BFU1 CALIFORNIA ST 117,598.95 - - - - - (1,178.11) (1,227.44) 115,193.40 2,170.00 256350005 LC-Project Fund-Toll 2 13063BFU1 CALIFORNIA ST 39,199.65 - - - - - (402.72) (399.13) 38,397.80 723.33 256350005 LC-Project Fund-Toll 2 912796KA6 UNITED STATES TREASURY - 4,498,943.75 - (4,500,000.00) - 0.00 1,056.25 - - - 256350005 LC-Project Fund-Toll 2 63307EAB3 NATIONAL BANK OF CANADA 2,000,980.00 - - (2,000,000.00) - - (1,371.18) 391.18 - - 256350005 LC-Project Fund-Toll 2 09062XAB9 BIOGEN IDEC INC 59,205.85 - (58,438.05) - - 155.34 (470.66) (452.48) - - 256350005 LC-Project Fund-Toll 2 477877AD6 JDOT 14B A3 73,918.38 - - - (17,687.68) 4.54 3.45 (42.96) 56,195.73 26.73 256350005 LC-Project Fund-Toll 2 477877AD6 JDOT 14B A3 295,673.50 - - - (70,750.72) (0.00) - (139.87) 224,782.91 106.90 256350005 LC-Project Fund-Toll 2 49327M2H6 KEYBANK NA 251,222.50 - (250,472.50) - - 1,235.06 64.36 (2,049.41) - - 256350005 LC-Project Fund-Toll 2 49327M2H6 KEYBANK NA 401,956.00 - (400,756.00) - - (272.54) (85.83) (841.63) - - 256350005 LC-Project Fund-Toll 2 71112JN42 The Peoples Gas Light And Coke Company - 724,743.84 - - - - 192.12 49.54 724,985.50 - 256350005 LC-Project Fund-Toll 2 31374CNE2 FN 310089 301,626.92 - (253,854.88) - (44,656.85) (1,651.61) (611.25) (852.33) - - 256350005 LC-Project Fund-Toll 2 36225EUY6 G2 082398 96,733.95 - - - (7,671.49) (208.60) (25.94) (40.35) 88,787.56 152.65 256350005 LC-Project Fund-Toll 2 60689LAC9 MMAF 13A A3 38,863.79 - - - (34,353.13) (2.63) (1.83) 2.11 4,508.32 2.84 256350005 LC-Project Fund-Toll 2 65474VAL5 NMOTR-16A-A2 224,253.00 - - - - - 16.13 (693.38) 223,575.75 154.00 256350005 LC-Project Fund-Toll 2 31394GH22 FHR 2649G KA 70,481.28 - - - (15,237.77) (219.24) 141.43 (461.71) 54,703.99 201.65 256350005 LC-Project Fund-Toll 2 3137AQVV7 FHMS K709 A1 149,813.62 - (131,805.50) - (17,828.53) (170.71) (54.00) 45.13 - - 256350005 LC-Project Fund-Toll 2 937308AZ7 WBRP 3.2 WASHINGTON BIOMEDICAL RESH PPTYS WASH LE 95,362.90 - - - - - - (525.35) 94,837.55 470.25 256350005 LC-Project Fund-Toll 2 38147MAA3 GOLDMAN SACHS GROUP INC 102,369.00 - - - - - (244.36) (743.64) 101,381.00 1,305.00 256350005 LC-Project Fund-Toll 2 209111ET6 CONSOLIDATED EDISON COMPANY OF NEW YORK INC 234,883.00 - - - - - (2,364.60) (988.20) 231,530.20 3,217.50 256350005 LC-Project Fund-Toll 2 31677QAV1 FIFTH THIRD BANK 400,672.00 - - - - - (83.45) (1,500.55) 399,088.00 1,981.67 256350005 LC-Project Fund-Toll 2 063679ZT4 BANK OF MONTREAL 300,921.00 - - - - - (717.35) (20.65) 300,183.00 2,453.75 256350005 LC-Project Fund-Toll 2 0258M0DZ9 AMERICAN EXPRESS CREDIT CORP 151,225.50 - - - - - 1.13 (1,009.13) 150,217.50 437.50 256350005 LC-Project Fund-Toll 2 0258M0DZ9 AMERICAN EXPRESS CREDIT CORP 302,451.00 - - - - - (325.62) (1,690.38) 300,435.00 875.00 256350005 LC-Project Fund-Toll 2 43357LND0 Hitachi Capital America Corp.- 3,497,604.46 - - - - 1,088.88 606.66 3,499,300.00 - 256350005 LC-Project Fund-Toll 2 233851CF9 DAIMLER FINANCE NORTH AMERICA LLC 367,942.80 - - - - - 45.07 (3,952.27) 364,035.60 2,697.92 256350005 LC-Project Fund-Toll 2 912828VK3 UNITED STATES TREASURY 131,361.10 - - - - - (187.87) (563.53) 130,609.70 4.94 256350005 LC-Project Fund-Toll 2 912828VK3 UNITED STATES TREASURY 131,361.10 - - - - - (188.80) (562.60) 130,609.70 4.94 256350005 LC-Project Fund-Toll 2 912828VK3 UNITED STATES TREASURY 181,884.60 - (45,221.48) - - (77.75) (166.98) (785.24) 135,633.15 5.13 256350005 LC-Project Fund-Toll 2 912828VK3 UNITED STATES TREASURY 131,361.10 - - - - - (190.66) (560.74) 130,609.70 4.94 256350005 LC-Project Fund-Toll 2 912828VK3 UNITED STATES TREASURY 1,970,416.50 - - - - - (2,171.74) (9,099.26) 1,959,145.50 74.07 256350005 LC-Project Fund-Toll 2 912828VK3 UNITED STATES TREASURY 303,141.00 - (301,476.56) - - (278.56) (162.63) (1,223.25) - - 256350005 LC-Project Fund-Toll 2 912828VK3 UNITED STATES TREASURY 55,575.85 - (55,270.70) - - (42.90) (29.06) (233.19) - - 256350005 LC-Project Fund-Toll 2 912828VK3 UNITED STATES TREASURY 303,141.00 - (301,476.56) - - (265.83) (161.45) (1,237.16) - - 256350005 LC-Project Fund-Toll 2 912828VK3 UNITED STATES TREASURY 303,141.00 - (301,476.56) - - (265.83) (161.45) (1,237.16) - - 256350005 LC-Project Fund-Toll 2 80851QDA9 CHARLES SCHWAB CORPORATION (THE)68,108.95 - - - - - (842.82) (95.13) 67,171.00 1,381.25 256350005 LC-Project Fund-Toll 2 62888YAA0 NGN 11R1 NTS 190,997.61 - - - (10,256.64) (35.25) (50.18) 74.55 180,730.10 121.42 256350005 LC-Project Fund-Toll 2 48121CYK6 JPMORGAN CHASE BANK NA 260,730.00 - - - - - (2,455.62) (279.38) 257,995.00 3,750.00 256350005 LC-Project Fund-Toll 2 49130TRY4 KENTUCKY HSG CORP HSG REV 275,066.00 - - (95,000.00) - 18.32 41.92 (128.05) 179,998.20 843.30 256350005 LC-Project Fund-Toll 2 6174467V5 MORGAN STANLEY 243,785.96 - - - - - (358.98) 96.29 243,523.27 984.09 256350005 LC-Project Fund-Toll 2 6174467V5 MORGAN STANLEY 70,809.20 - - - - - (46.89) (29.41) 70,732.90 285.84 68,466,592.13 56,680,640.97 (46,757,182.05) (19,170,000.00) (1,150,224.15) (391.06) (37,509.82) (302,589.22) 57,734,448.04 142,656.07 256350022 LC-Sr Lien Ob Fund-1 Interest 9AMMF05B2 ---13,674.29 5,149,884.13 (5,109,345.49) - - - - - 54,212.93 - 256350022 LC-Sr Lien Ob Fund-1 Interest 38144LAB6 GOLDMAN SACHS GROUP INC 312,945.00 - - - - - (1,459.17) (2,269.83) 309,216.00 6,250.00 256350022 LC-Sr Lien Ob Fund-1 Interest 43357LND0 Hitachi Capital America Corp.- 199,863.11 - - - - 62.22 34.67 199,960.00 - 256350022 LC-Sr Lien Ob Fund-1 Interest 31393EXC8 FNR 0388E TH 16,726.85 - - - (3,234.58) (62.42) (8.62) 38.89 13,460.12 49.19 256350022 LC-Sr Lien Ob Fund-1 Interest 05565QCC0 BP CAPITAL MARKETS PLC 300,027.00 - - - - - 466.71 (664.71) 299,829.00 630.21 256350022 LC-Sr Lien Ob Fund-1 Interest 166764AE0 CHEVRON CORP 302,643.00 - - - - - (158.54) (1,566.46) 300,918.00 100.22 256350022 LC-Sr Lien Ob Fund-1 Interest 912828RX0 UNITED STATES TREASURY 951,387.00 - - (950,000.00) - 0.00 365.01 (1,752.01) - - 256350022 LC-Sr Lien Ob Fund-1 Interest 89236TAY1 TOYOTA MOTOR CREDIT CORP 507,315.00 - - - - - (442.54) (3,912.46) 502,960.00 1,861.11 256350022 LC-Sr Lien Ob Fund-1 Interest CCYUSD Receivable - - - - - - - - 950,000.00 - 256350022 LC-Sr Lien Ob Fund-1 Interest 912828UA6 UNITED STATES TREASURY 1,199,064.00 - (997,656.25) - - 4,319.01 1,307.07 (7,501.82) 199,532.00 109.89 33 Page 14 of 32 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 December 31, 2016 256350022 LC-Sr Lien Ob Fund-1 Interest 31402RBG3 FN 735439 1,818.03 - - - (496.25) (14.28) (0.58) 0.01 1,306.93 6.36 256350022 LC-Sr Lien Ob Fund-1 Interest 31402RBG3 FN 735439 23,361.68 - - - (6,376.75) (203.19) (8.01) 20.32 16,794.06 81.76 256350022 LC-Sr Lien Ob Fund-1 Interest 30231GAL6 EXXON MOBIL CORP 421,272.60 - - - - - 44.11 (1,417.51) 419,899.20 1,750.88 256350022 LC-Sr Lien Ob Fund-1 Interest 912828K41 UNITED STATES TREASURY 200,038.00 - - - - - (0.25) 30.25 200,068.00 190.16 256350022 LC-Sr Lien Ob Fund-1 Interest 31385JLF3 FN 545826 37,887.19 - - - (16,620.00) (218.30) (151.71) 53.55 20,950.74 104.16 256350022 LC-Sr Lien Ob Fund-1 Interest 94974BGF1 WELLS FARGO & CO 604,368.00 - - - - - 266.87 (7,466.87) 597,168.00 5,410.83 256350022 LC-Sr Lien Ob Fund-1 Interest 3136A8G38 FN 12M13A A2 511,151.54 - (388,917.06) - (122,371.79) 1,753.12 276.59 (1,892.41) - - 256350022 LC-Sr Lien Ob Fund-1 Interest 46625HJL5 JPMORGAN CHASE & CO 501,045.00 - - - - - 210.09 (1,895.09) 499,360.00 1,038.19 256350022 LC-Sr Lien Ob Fund-1 Interest 63307EAB3 NATIONAL BANK OF CANADA 900,441.00 - - (900,000.00) - - (651.64) 210.64 - - 256350022 LC-Sr Lien Ob Fund-1 Interest 912828UZ1 UNITED STATES TREASURY 698,852.00 - (497,207.03) - - (457.51) 407.87 (2,571.34) 199,024.00 214.09 256350022 LC-Sr Lien Ob Fund-1 Interest 92780JL90 Virginia Electric and Power Company - 599,824.00 - (600,000.00) - - 176.00 - - - 256350022 LC-Sr Lien Ob Fund-1 Interest 891145TN4 TORONTO DOMINION BANK 701,435.00 - - - - - (1,021.67) 132.67 700,546.00 3,150.00 256350022 LC-Sr Lien Ob Fund-1 Interest 48121CYK6 JPMORGAN CHASE BANK NA 312,876.00 - - - - - (2,562.64) (719.36) 309,594.00 4,500.00 256350022 LC-Sr Lien Ob Fund-1 Interest 912828J84 UNITED STATES TREASURY 557,199.50 - (348,386.72) - - 2,071.86 316.89 (12,247.53) 198,954.00 702.61 256350022 LC-Sr Lien Ob Fund-1 Interest 912828J84 UNITED STATES TREASURY 50,654.50 - (49,769.53) - - 239.39 20.67 (1,145.03) - - 256350022 LC-Sr Lien Ob Fund-1 Interest 02580ECC5 AMERICAN EXPRESS BANK LTD.260,750.00 - - - - - (2,375.59) (646.91) 257,727.50 4,500.00 256350022 LC-Sr Lien Ob Fund-1 Interest 3136A4M89 FN 12M3B 2A1 157,191.06 - - - (17,292.02) (31.61) (52.58) (900.46) 138,914.38 223.20 256350022 LC-Sr Lien Ob Fund-1 Interest 0255E2KC3 American Electric Power Company, Inc.274,964.25 - - (275,000.00) - - 75.63 (39.88) - - 256350022 LC-Sr Lien Ob Fund-1 Interest 74451KLH5 Public Service Company of North Carolina, Incorpor - 599,708.00 - (600,000.00) - - 292.00 - - - 256350022 LC-Sr Lien Ob Fund-1 Interest 78355AL85 Ryder System, Inc.- 149,981.63 - (150,000.00) - - 18.37 - - - 256350022 LC-Sr Lien Ob Fund-1 Interest 3137ASNH3 FHMS K019 A1 302,052.26 - - - (13,736.69) 217.27 243.92 (3,486.21) 285,290.55 350.42 256350022 LC-Sr Lien Ob Fund-1 Interest 235219JS2 DALLAS TEX 652,268.50 - - - - - - (1,865.50) 650,403.00 3,901.88 256350022 LC-Sr Lien Ob Fund-1 Interest 31393V2T7 FHR 2627E GY 84,793.44 - - - (17,667.93) (289.55) 116.69 (152.29) 66,800.36 244.74 256350022 LC-Sr Lien Ob Fund-1 Interest 78011DAC8 ROYAL BANK OF CANADA 699,699.00 - - - - - (84.61) (552.39) 699,062.00 2,380.00 256350022 LC-Sr Lien Ob Fund-1 Interest 43357LKR2 Hitachi Capital America Corp.- 99,940.97 - (100,000.00) - - 59.03 - - - 256350022 LC-Sr Lien Ob Fund-1 Interest 43357LKR2 Hitachi Capital America Corp.99,967.00 (99,940.97) - - - - (2.36) (23.67) - - 11,657,867.70 6,699,260.87 (7,391,282.08) (3,575,000.00) (197,796.01) 7,323.80 (4,254.77) (54,168.74) 8,091,950.77 37,749.90 256350023 LC-Sr Lien Reserve Fund-1 9AMMF05B2 U.S. BANK MONEY MARKET ACCOUNT FUND 136,029.82 2,678,498.18 (2,795,004.49) - - - - - 19,523.51 - 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 521,055.00 - - - - - (538.68) (13,856.32) 506,660.00 4,446.33 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 52,105.50 - - - - - (42.07) (1,397.43) 50,666.00 444.63 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 104,211.00 - - - - - (240.61) (2,638.39) 101,332.00 889.27 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 119,842.65 - - - - - (104.49) (3,206.36) 116,531.80 1,022.66 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 151,105.95 - - - - - (171.25) (4,003.30) 146,931.40 1,289.44 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 760,740.30 - - - - - (648.53) (20,368.17) 739,723.60 6,491.64 256350023 LC-Sr Lien Reserve Fund-1 3137AJMF8 FHMS K016 A2 31,839.00 - - - - - (44.16) (885.54) 30,909.30 74.19 256350023 LC-Sr Lien Reserve Fund-1 3138L76A9 FN AM7164 - 129,511.72 - - - - (206.88) (2,789.84) 126,515.00 278.78 256350023 LC-Sr Lien Reserve Fund-1 3135G0D75 FEDERAL NATIONAL MORTGAGE ASSOCIATION 609,180.00 - - - - - 313.39 (12,289.39) 597,204.00 225.00 256350023 LC-Sr Lien Reserve Fund-1 38376GB33 GNR 116 BA 327,485.32 - - - (6,544.43) (154.54) (128.03) (617.70) 320,040.62 922.60 256350023 LC-Sr Lien Reserve Fund-1 912828VV9 UNITED STATES TREASURY 88,436.55 - - - - - (83.46) (1,978.64) 86,374.45 613.73 256350023 LC-Sr Lien Reserve Fund-1 912828VV9 UNITED STATES TREASURY 156,064.50 - - - - - (268.66) (3,370.34) 152,425.50 1,083.05 256350023 LC-Sr Lien Reserve Fund-1 38378KRS0 GNR 1378 AG 455,026.50 - - - - - 119.20 (18,492.70) 436,653.00 895.72 256350023 LC-Sr Lien Reserve Fund-1 38378KWU9 GNR 1396 A 63,116.92 - - - (476.73) 11.35 15.22 (660.37) 62,006.38 75.20 256350023 LC-Sr Lien Reserve Fund-1 38378KWU9 GNR 1396 A 16,831.18 - - - (127.13) 2.20 2.94 (174.16) 16,535.04 20.05 256350023 LC-Sr Lien Reserve Fund-1 912828VB3 UNITED STATES TREASURY 1,635,936.00 - - - - - 2,767.51 (80,335.51) 1,558,368.00 3,635.36 256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 FEDERAL HOME LOAN MORTGAGE CORP 579,172.00 - - - - - 589.25 (20,735.75) 559,025.50 6,095.83 256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 FEDERAL HOME LOAN MORTGAGE CORP - 205,536.00 - - - - (127.00) (2,127.00) 203,282.00 2,216.67 256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 FEDERAL HOME LOAN MORTGAGE CORP 210,608.00 - - - - - (335.67) (6,990.33) 203,282.00 2,216.67 256350023 LC-Sr Lien Reserve Fund-1 38378B7E3 GNR 1333 AC 215,770.97 - - - (2,198.45) 82.75 68.75 (4,715.95) 209,008.07 320.48 256350023 LC-Sr Lien Reserve Fund-1 38378B7E3 GNR 1333 AC 64,731.29 - - - (659.54) 13.10 10.83 (1,393.27) 62,702.42 96.14 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 GNR 10166F GP 100,519.49 - - - (5,017.53) (77.29) (2.15) (1,227.11) 94,195.41 229.59 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 GNR 10166F GP 60,311.69 - - - (3,010.52) (90.27) (32.64) (661.02) 56,517.24 137.76 256350023 LC-Sr Lien Reserve Fund-1 912828WU0 UNITED STATES TREASURY 617,002.61 - (214,704.31) - - 6,925.02 2,243.22 (21,434.09) 390,032.45 229.26 256350023 LC-Sr Lien Reserve Fund-1 38378KSL4 GNR 1374 AL 204,346.00 - - - - - 27.40 (13,103.40) 191,270.00 464.10 256350023 LC-Sr Lien Reserve Fund-1 38378KSL4 GNR 1374 AL 229,889.25 - - - - - 1.85 (14,712.35) 215,178.75 522.11 256350023 LC-Sr Lien Reserve Fund-1 3136A72D3 FN 12M9 A2 411,293.75 - - - - - 533.45 (15,843.65) 395,983.55 816.99 256350023 LC-Sr Lien Reserve Fund-1 31381Q6B7 FN 468066 212,281.61 - - - (770.27) (79.57) (920.81) (4,767.84) 205,743.12 703.59 256350023 LC-Sr Lien Reserve Fund-1 38378B6A2 GNR 1312A AB 131,792.64 - - - (3,587.43) 112.84 33.54 (2,786.84) 125,564.75 198.09 256350023 LC-Sr Lien Reserve Fund-1 3136A7MN9 FN 12M8 A2 307,869.00 - - - - - (380.76) (11,244.24) 296,244.00 587.35 256350023 LC-Sr Lien Reserve Fund-1 3137AQT24 FHMS K708 A2 172,584.81 - (170,852.91) - (901.17) 1,703.33 (47.89) (2,486.17) - - 256350023 LC-Sr Lien Reserve Fund-1 38376WA62 GNR 1015C PD 107,172.65 - - - (11,606.30) (619.74) 90.85 317.48 95,354.94 299.32 256350023 LC-Sr Lien Reserve Fund-1 36202F2H8 G2 005276 - 251,934.19 - - (5,285.60) (201.11) 46.06 (1,308.75) 245,184.80 593.67 256350023 LC-Sr Lien Reserve Fund-1 3137ATRW4 FHMS K020 A2 - 124,804.69 - - - - 0.36 414.95 125,220.00 247.19 256350023 LC-Sr Lien Reserve Fund-1 912828RC6 UNITED STATES TREASURY 496,042.50 - - - - - (738.45) (15,796.30) 479,507.75 3,812.58 256350023 LC-Sr Lien Reserve Fund-1 912828RC6 UNITED STATES TREASURY 1,357,590.00 - - - - - (566.14) (44,686.86) 1,312,337.00 10,434.44 256350023 LC-Sr Lien Reserve Fund-1 3128MMAK9 FH G18009 91,722.04 - (83,602.04) - (7,843.72) (135.73) (112.10) (28.45) 0.01 - 256350023 LC-Sr Lien Reserve Fund-1 38377DPX8 GNR 10101E NC 1,081.68 - - - (1,081.89) (0.00) - 0.22 - - 256350023 LC-Sr Lien Reserve Fund-1 31395EZP5 FHR 2835G MD 55,823.46 - - - (7,748.63) (170.34) 129.66 (57.40) 47,976.76 175.08 256350023 LC-Sr Lien Reserve Fund-1 3136AEYG6 FN 13M9 AQ2 134,734.87 - (127,409.74) - (7,191.45) 601.35 (33.08) (701.94) - - 256350023 LC-Sr Lien Reserve Fund-1 31394DVM9 FNR 0543D PB 120,925.43 - (107,251.25) - (12,623.17) (683.29) (142.44) (225.28) - - 256350023 LC-Sr Lien Reserve Fund-1 38378KXW4 GNR 13105 A 188,616.21 - - - (2,290.97) 10.37 9.13 (1,214.16) 185,130.58 267.03 256350023 LC-Sr Lien Reserve Fund-1 38377JZ89 GNR 10117A GK 112,727.09 - - - (10,279.59) (247.54) (293.76) (1,133.73) 100,772.46 286.32 256350023 LC-Sr Lien Reserve Fund-1 31413XVG5 FN 958815 206,626.00 - - - - - 516.24 (4,114.24) 203,028.00 776.03 256350023 LC-Sr Lien Reserve Fund-1 38379KDN5 GNR 1529 AD 187,781.06 - - - (2,857.18) 67.94 68.34 (6,578.44) 178,481.72 323.33 256350023 LC-Sr Lien Reserve Fund-1 3136A4M48 FN 12M3A 1A1 322,016.36 - - - (12,894.91) (12.37) (34.81) (4,684.62) 304,389.65 531.70 256350023 LC-Sr Lien Reserve Fund-1 912828UF5 UNITED STATES TREASURY 175,985.25 - (173,441.41) - - (44.41) 96.14 (2,595.58) - - 256350023 LC-Sr Lien Reserve Fund-1 912828UF5 UNITED STATES TREASURY 75,422.25 - (74,332.03) - - (251.28) 26.51 (865.45) - - 256350023 LC-Sr Lien Reserve Fund-1 912828UF5 UNITED STATES TREASURY 754,222.50 - (495,546.87) - - 1,315.35 596.14 (13,019.62) 247,567.50 7.77 256350023 LC-Sr Lien Reserve Fund-1 31392JJ83 FNR 0317D HC 11,488.99 - - - (2,877.66) (40.47) (10.55) (52.23) 8,508.07 34.94 256350023 LC-Sr Lien Reserve Fund-1 31381PEB0 FN 466430 280,540.83 - - - (1,118.34) (33.21) 717.21 (7,114.27) 272,992.22 755.34 256350023 LC-Sr Lien Reserve Fund-1 3137AUPE3 FHMS K021 A2 244,310.70 - - - - - 388.37 (9,104.52) 235,594.55 469.22 256350023 LC-Sr Lien Reserve Fund-1 3137AUPE3 FHMS K021 A2 - 145,985.63 - - - - (42.64) (1,578.67) 144,364.32 287.52 34 Page 15 of 32 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 December 31, 2016 256350023 LC-Sr Lien Reserve Fund-1 38378CRT6 GNR 1213E EG 93,716.02 - - - (8,005.98) 241.53 14.33 (1,140.93) 84,824.97 142.67 256350023 LC-Sr Lien Reserve Fund-1 38378XP62 GNR 14166 PL 409,701.43 - - - (14,169.34) (165.06) (53.81) (15,802.35) 379,510.86 800.64 256350023 LC-Sr Lien Reserve Fund-1 3137A7E22 FHR 3804A DA 122,673.34 - (98,805.11) - (22,395.28) (748.24) (100.32) (624.39) - - 256350023 LC-Sr Lien Reserve Fund-1 38376T5Z1 GNR 104A PD 139,796.95 - - - (6,516.71) (255.06) (101.03) (1,284.92) 131,639.23 320.23 256350023 LC-Sr Lien Reserve Fund-1 38377RSZ9 GNR 10162D PQ 44,833.79 - - - (7,185.03) (366.41) (122.99) 119.13 37,278.49 135.04 256350023 LC-Sr Lien Reserve Fund-1 3137EADR7 FEDERAL HOME LOAN MORTGAGE CORP 480,153.75 - - - - - 174.58 (9,009.58) 471,318.75 1,088.54 256350023 LC-Sr Lien Reserve Fund-1 3137EACA5 FREDDIE MAC 823,037.60 - (812,196.00) - - 11,986.70 (2,606.23) (20,222.08) - - 256350023 LC-Sr Lien Reserve Fund-1 3138EKXL4 FN AL3382 - 288,699.84 - - - - (21.37) 3,393.79 292,072.26 592.37 256350023 LC-Sr Lien Reserve Fund-1 3137B1U75 FHMS KS01 A2 394,728.80 - - - - - (644.02) (13,719.98) 380,364.80 798.63 256350023 LC-Sr Lien Reserve Fund-1 31381T4E7 FN 470721 - 287,486.04 - - (1,006.18) (44.73) (362.18) (7,367.80) 278,705.16 630.32 256350023 LC-Sr Lien Reserve Fund-1 31404WTT3 FN 780962 48,462.21 - (44,100.36) - (4,261.02) (1,178.33) (123.35) 1,200.86 0.01 - 256350023 LC-Sr Lien Reserve Fund-1 912828XB1 UNITED STATES TREASURY 1,254,564.00 - - - - - (744.04) (77,447.96) 1,176,372.00 3,310.77 256350023 LC-Sr Lien Reserve Fund-1 38378BX20 GNR 12132 AB 61,590.86 - - - (6,840.74) 155.95 13.50 (510.96) 54,408.62 58.35 256350023 LC-Sr Lien Reserve Fund-1 31417YKF3 FN MA0293 128,512.32 - - - (7,833.96) (412.09) 265.01 (3,033.37) 117,497.91 409.67 256350023 LC-Sr Lien Reserve Fund-1 31385XBG1 FN 555439 4,502.42 - - - (2,036.16) (25.03) (16.66) 3.06 2,427.62 12.07 256350023 LC-Sr Lien Reserve Fund-1 31416YXJ2 FN AB3380 52,483.32 - (49,929.87) - (1,994.42) 638.42 (13.90) (1,183.56) - - 256350023 LC-Sr Lien Reserve Fund-1 38380AZ34 GNR 16147C DA - 174,496.23 - - - - (59.25) (2,016.89) 177,875.43 434.79 256350023 LC-Sr Lien Reserve Fund-1 3137ASNH3 FHMS K019 A1 302,052.26 - - - (13,736.69) 185.71 205.78 (3,416.51) 285,290.55 350.42 256350023 LC-Sr Lien Reserve Fund-1 3138EJPZ5 FN AL2239 361,174.48 - - - (1,805.13) (110.87) (1,236.59) (10,011.56) 348,010.33 863.14 256350023 LC-Sr Lien Reserve Fund-1 31418AFW3 FN MA1080 171,005.85 - (159,952.86) - (9,019.36) 2,885.05 (61.42) (4,857.26) - - 256350023 LC-Sr Lien Reserve Fund-1 3138L33G8 FN AM3498 101,879.00 - - - - - 0.66 (1,695.66) 100,184.00 173.08 256350023 LC-Sr Lien Reserve Fund-1 38378B7F0 GNR 1333 B 194,906.00 - - - - - 45.45 (1,849.45) 193,102.00 378.83 256350023 LC-Sr Lien Reserve Fund-1 38378B7F0 GNR 1333 B 243,632.50 - - - - - 129.88 (2,384.88) 241,377.50 473.54 256350023 LC-Sr Lien Reserve Fund-1 38378TAF7 GNR 1371A GA 206,903.19 - - - (8,633.46) 5.34 (7.23) (3,364.48) 194,903.36 400.45 256350023 LC-Sr Lien Reserve Fund-1 3136AHAE0 FN 13M14 APT - 240,800.46 - - (320.89) (6.84) (118.38) (7,638.62) 232,715.73 491.43 256350023 LC-Sr Lien Reserve Fund-1 3136G3JZ9 FEDERAL NATIONAL MORTGAGE ASSOCIATION 200,174.00 - - (200,000.00) - - (170.21) (3.79) - - 19,512,493.24 4,527,752.98 (5,407,129.25) (200,000.00) (224,752.96) 20,790.52 (2,599.96) (589,291.15) 17,642,718.76 68,408.77 157,272,737.32 126,999,722.42 (113,382,565.58) (50,400,000.00) (2,394,391.63) 40,486.61 (38,568.52) (1,147,666.72) 117,910,320.48 317,127.19 35 STAMP Portfolio Summary of Investments for quarter ended December 31, 2016 Credit Rating Industry Group Asset Class Security Type Market Sector ATTACHMENT 5 36 BLANK STAMP Portfolio Toll Revenue Project Senior Lien Fund Summary of Investments for quarter ended December 31, 2016 Credit Rating Industry Group Asset Class Security Type Market Sector ATTACHMENT 6 37 BLANK STAMP Portfolio Toll Revenue Project Sales Tax Revenue Fund Summary of Investments for quarter ended December 31, 2016 Credit Rating Industry Group Asset Class Security Type Market Sector ATTACHMENT 7 38 BLANK STAMP Portfolio Series A & Series B Reserve Fund Summary of Investments for quarter ended December 31, 2016 Credit Rating Industry Group Asset Class Security Type Market Sector ATTACHMENT 8 39 BLANK STAMP Portfolio Toll Revenue Project Capitalized Interest Fund Summary of Investments for quarter ended December 31, 2016 Credit Rating Industry Group Asset Class Security Type Market Sector ATTACHMENT 9 40 BLANK STAMP Portfolio Sales Tax Revenue Capitalized Interest Fund Summary of Investments for quarter ended December 31, 2016 Credit Rating Industry Group Asset Class Security Type Market Sector ATTACHMENT 10 41 BLANK STAMP Portfolio Sales Tax Equity Fund Summary of Investments for quarter ended December 31, 2016 Credit Rating Industry Group Asset Class Security Type Market Sector ATTACHMENT 11 42 BLANK Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM CUSIP Security Type Category Issuer Final Maturity Trade Date Next Call Date Original Cost Base Market Value Unrealized Gain/Loss Accrued Income Coupon Yield Credit Rating 3130A9AE1 Agencies F H L B 0.875% 10/01/18 10/1/2018 8/26/2016 509,653.20 507,195.00 (2,458.20) 1,115.63 0.8800 0.8796 AA+ 3130AAE46 Agencies F H L B 1.250% 1/16/19 1/16/2019 12/8/2016 1,009,959.60 1,009,646.50 (313.10) 806.60 1.2500 1.2509 AA+ 3133EEWS5 Agencies F F C B DEB 0.66367% 1/02/18 1/2/2018 4/2/2015 699,961.01 700,546.00 584.99 387.14 0.6600 0.6627 AA+ 3134G8L98 Agencies F H L M C M T N 1.050% 2/26/18 2/26/2018 2/26/2016 2/26/2017 500,000.00 499,890.00 (110.00) 1,822.92 1.0500 1.0507 AA+ 3134G9UY1 Agencies F H L M C M T N 1.000% 6/29/18 6/29/2018 6/29/2016 510,000.00 509,194.20 (805.80) 28.33 1.0000 1.0016 AA+ 3134GAJQ8 Agencies F H L M C M T N 1.150% 9/14/18 9/14/2018 9/14/2016 3/14/2017 510,000.00 509,250.30 (749.70) 1,743.21 1.1500 1.1507 AA+ 3135G0E58 Agencies F N M A DEB 1.125% 10/19/18 10/19/2018 9/1/2015 529,141.40 529,348.10 206.70 1,192.50 1.1300 1.1263 AA+ 3135G0J53 Agencies F N M A DEB 1.000% 2/26/19 2/26/2019 2/23/2016 498,820.00 496,890.00 (1,930.00) 1,736.11 1.0000 1.0062 AA+ 3135G0K77 Agencies F N M A DEB 1.250% 6/13/19 6/13/2019 6/13/2016 3/13/2017 490,000.00 489,029.80 (970.20) 306.25 1.2500 1.2524 AA+ 3135G0L68 Agencies F N M A DEB 0.750% 7/27/18 7/27/2018 7/27/2016 7/27/2017 509,235.00 506,924.70 (2,310.30) 1,636.25 0.7500 0.7542 AA+ 3135G0N33 Agencies F N M A 0.875% 8/02/19 8/2/2019 8/2/2016 529,109.60 522,638.30 (6,471.30) 1,919.41 0.8800 0.8869 AA+ 3135G0P49 Agencies F N M A 1.000% 8/28/19 8/28/2019 9/2/2016 509,204.40 504,333.90 (4,870.50) 1,685.83 1.0000 1.0110 AA+ 3137EAEB1 Agencies F H L M C M T N 0.875% 7/19/19 7/19/2019 7/20/2016 350,150.58 346,363.29 (3,787.29) 1,373.53 0.8800 0.8867 AA+ 3137EAED7 Agencies F H L M C M T N 0.875% 10/12/18 10/12/2018 9/16/2016 1,509,720.70 1,501,800.70 (7,920.00) 3,853.65 0.8800 0.8798 AA+ 05582QAD9 Asset-Backed BMW VEHICLE OWNER 1.160% 11/25/20 11/25/2020 7/20/2016 454,997.95 450,577.40 (4,420.55) 87.97 1.1600 1.1714 N/A 161571HC1 Asset-Backed CHASE ISSUANCE TRUST 1.370% 6/15/21 6/15/2021 6/17/2016 750,470.19 742,770.00 (7,700.19) 456.67 1.3700 1.3831 AAA 31680GAB2 Asset-Backed FIFTH THIRD AUTO TRU 1.020% 5/15/18 5/15/2018 11/5/2015 53,541.22 53,542.68 1.46 24.27 1.0200 1.0200 N/A 36159LCN4 Asset-Backed GE DEALER FLOORPLA 0.97805% 10/20/19 10/20/2019 10/21/2014 475,173.11 475,099.75 (73.36) 154.86 1.1900 0.9780 N/A 47787UAB9 Asset-Backed JOHN DEERE OWNER 0.870% 2/15/18 2/15/2018 3/11/2015 50,779.82 50,775.98 (3.84) 19.64 0.8700 0.8702 N/A 47788NAC2 Asset-Backed JOHN DEERE OWNER 1.250% 6/15/20 6/15/2020 7/27/2016 274,978.11 273,688.25 (1,289.86) 152.78 1.2500 1.2562 N/A 89237CAD3 Asset-Backed TOYOTA AUTO RECEIV 1.270% 5/15/19 5/15/2019 6/17/2015 499,972.95 499,990.00 17.05 282.22 1.2700 1.2702 AAA 89237KAD5 Asset-Backed TOYOTA AUTO 1.250% 3/16/20 3/16/2020 3/2/2016 199,988.66 199,602.00 (386.66) 111.11 1.2500 1.2539 AAA 31846V203 Cash Equivalents FIRST AMERICAN GOVT OBLIG FUND CL Y 204,661.78 204,661.78 - 15.61 0.1924 037833AG5 Credit APPLE INC 1.03152% 5/03/18 5/3/2018 5/3/2013 250,313.40 250,567.50 254.10 422.64 1.1300 1.0290 AA+ 037833BB5 Credit APPLE INC 0.900% 5/12/17 5/12/2017 5/13/2015 119,917.20 119,980.80 63.60 144.00 0.9000 0.8998 AA+ 037833BN9 Credit APPLE INC 1.300% 2/23/18 2/23/2018 2/23/2016 29,987.10 30,022.20 35.10 138.67 1.3000 1.2985 AA+ 037833BQ2 Credit APPLE INC 1.700% 2/22/19 2/22/2019 2/23/2016 39,993.20 40,075.60 82.40 241.78 1.7000 1.6956 AA+ 037833CB4 Credit APPLE INC 1.100% 8/02/19 8/2/2019 8/4/2016 59,940.00 59,103.60 (836.40) 269.50 1.1000 1.1159 AA+ 06406HCK3 Credit BANK OF NY MTN 1.28928% 3/06/18 3/6/2018 3/6/2013 750,552.46 751,027.50 475.04 698.36 1.3900 1.2876 A 084664CD1 Credit BERKSHIRE HATHAWAY 1.19998% 1/12/18 1/12/2018 1/15/2015 250,241.20 250,650.00 408.80 549.22 1.1700 1.1967 AA 084664CK5 Credit BERKSHIRE HATHAWAY 1.300% 8/15/19 8/15/2019 8/15/2016 159,844.80 158,057.60 (1,787.20) 785.78 1.3000 1.3147 AA 166764AV2 Credit CHEVRON CORP 1.365% 3/02/18 3/2/2018 3/3/2015 499,970.00 499,510.00 (460.00) 2,256.04 1.3700 1.3660 AA- 166764BA7 Credit CHEVRON CORP 1.790% 11/16/18 11/16/2018 11/17/2015 252,264.73 250,950.00 (1,314.73) 546.94 1.7900 1.7814 AA- 17275RAU6 Credit CISCO SYSTEMS INC 1.650% 6/15/18 6/15/2018 6/17/2015 399,932.00 401,208.00 1,276.00 293.33 1.6500 1.6452 AA- 17275RBG6 Credit CISCO SYSTEMS INC 1.400% 9/20/19 9/20/2019 9/20/2016 109,877.90 108,801.00 (1,076.90) 432.06 1.4000 1.4146 AA- 191216BR0 Credit COCA COLA CO THE 0.875% 10/27/17 10/27/2017 10/27/2015 35,984.16 35,931.96 (52.20) 56.00 0.8800 0.8759 AA- 191216BV1 Credit COCA COLA CO 1.375% 5/30/19 5/30/2019 5/31/2016 249,825.00 248,340.00 (1,485.00) 296.01 1.3800 1.3804 AA- 19416QDU1 Credit COLGATE PALM MTN 2.625% 5/01/17 5/1/2017 5/4/2011 507,870.15 507,721.95 (148.20) 2,209.38 2.6300 2.6128 AA- 30231GAL6 Credit EXXON MOBIL 1.305% 3/06/18 3/6/2018 3/6/2015 460,000.00 459,889.60 (110.40) 1,917.63 1.3100 1.3047 AA+ 30231GAP7 Credit EXXON MOBIL 1.708% 3/01/19 3/1/2019 3/3/2016 40,000.00 40,086.40 86.40 227.73 1.7100 1.7048 AA+ 30231GAU6 Credit EXXON MOBIL 1.439% 3/01/18 3/1/2018 3/3/2016 40,000.00 40,048.00 48.00 191.87 1.4400 1.4370 AA+ 36962G3H5 Credit GEN ELEC CAP CRP MTN 5.625% 9/15/17 9/15/2017 9/24/2007 515,366.66 515,375.00 8.34 8,281.25 5.6300 5.4704 AA- 48125LRD6 Credit JP MORGAN CHASE MT 1.25578% 6/14/17 6/14/2017 6/19/2015 750,000.00 750,802.50 802.50 470.92 1.3600 1.2545 A+ 58933YAH8 Credit MERCK CO INC 0.9861% 5/18/18 5/18/2018 5/20/2013 751,225.33 752,910.00 1,684.67 903.92 1.2700 0.9824 AA 594918BF0 Credit MICROSOFT CORP 1.300% 11/03/18 11/3/2018 11/3/2015 751,990.56 749,400.00 (2,590.56) 1,570.83 1.3000 1.3008 AAA 717081DP5 Credit PFIZER INC 0.967% 5/15/17 5/15/2017 5/15/2014 250,003.16 250,127.50 124.34 315.62 1.0600 0.9666 AA 717081DU4 Credit PFIZER INC 1.450% 6/03/19 6/3/2019 6/3/2016 249,715.00 248,477.50 (1,237.50) 281.94 1.4500 1.4566 AA 89236TAY1 Credit TOYOTA MOTOR MTN 2.000% 10/24/18 10/24/2018 10/24/2013 344,980.97 342,012.80 (2,968.17) 1,265.56 2.0000 1.9876 AA- 89236TCX1 Credit TOYOTA MOTOR MTN 1.200% 4/06/18 4/6/2018 4/8/2016 249,940.00 248,890.00 (1,050.00) 708.33 1.2000 1.2043 AA- 90331HMQ3 Credit US BANK NA MTN 1.350% 1/26/18 1/26/2018 1/27/2015 12/26/2017 500,343.05 499,130.00 (1,213.05) 2,906.25 1.3500 1.3522 AA- 91159HHE3 Credit US BANCORP MTN 1.950% 11/15/18 11/15/2018 11/7/2013 10/15/2018 253,427.94 251,272.50 (2,155.44) 622.92 1.9500 1.9387 A+ 94974BFK1 Credit WELLS FARGO MTN 1.51178% 4/23/18 4/23/2018 4/23/2013 501,209.33 501,900.00 690.67 1,307.15 1.5100 1.5069 A 94974BFW5 Credit WELLS FARGO COM MTN 1.150% 6/02/17 6/2/2017 6/3/2014 500,096.82 499,870.00 (226.82) 463.19 1.1500 1.1504 A 3136AMTM1 Mortgage-Backed F N M A GTD REMIC 0.3845% 9/25/18 9/25/2018 3/1/2015 424,189.06 424,331.74 142.68 60.88 0.7400 0.7900 N/A 3137BNN26 Mortgage-Backed F H L M C MLTCL MTG 1.780% 7/25/19 7/25/2019 4/1/2016 216,695.22 214,273.30 (2,421.92) 318.92 1.7800 1.7855 N/A 3137BPCF4 Mortgage-Backed F H L M C MLTCL MTG 1.376% 10/25/20 10/25/2020 5/1/2016 373,481.24 370,167.68 (3,313.56) 85.65 1.3800 1.3880 N/A 13063C4V9 Taxable Muni CALIFORNIA ST 1.050% 11/01/18 11/1/2018 11/3/2016 149,887.50 149,374.50 (513.00) 253.75 1.0500 1.0536 AA- 544445AY5 Taxable Muni LOS ANGELES CA DEPT 1.750% 5/15/19 5/15/2019 12/6/2016 100,000.00 99,655.00 (345.00) 121.53 1.7500 1.7547 AA 54473ERP1 Taxable Muni LOS ANGELES CNTY CA 1.507% 12/01/17 12/1/2017 9/2/2015 25,000.00 24,987.75 (12.25) 31.40 1.5100 1.5081 AA 54473ERQ9 Taxable Muni LOS ANGELES CNTY CA 2.036% 12/01/18 12/1/2018 9/2/2015 50,000.00 50,117.50 117.50 84.83 2.0400 2.0325 AA 6055806F1 Taxable Muni MISSISSIPPI ST SER D 3.381% 11/01/18 11/1/2018 11/10/2010 103,420.38 103,614.00 193.62 563.50 3.3800 3.2678 AA 650119AD2 Taxable Muni NEW YORK UNIVERSITY 0.898% 7/01/17 7/1/2017 4/16/2015 200,000.00 199,602.00 (398.00) 898.00 0.9000 0.8998 AA- 650119AE0 Taxable Muni NEW YORK UNIVERSITY 1.315% 7/01/18 7/1/2018 4/16/2015 120,000.00 119,382.00 (618.00) 789.00 1.3200 1.3214 AA- Payden & Rygel Operating Portfolio by Investment Category for Quarter ended December 31, 2016 ATTACHMENT 12 43 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM CUSIP Security Type Category Issuer Final Maturity Trade Date Next Call Date Original Cost Base Market Value Unrealized Gain/Loss Accrued Income Coupon Yield Credit Rating Payden & Rygel Operating Portfolio by Investment Category for Quarter ended December 31, 2016 702282ND2 Taxable Muni PASADENA CA UNIF 1.861% 11/01/18 11/1/2018 3/20/2014 251,104.05 251,852.50 748.45 775.42 1.8600 1.8487 A+ 91412GD36 Taxable Muni UNIV OF CA 1.169% 5/15/19 5/15/2019 4/20/2016 140,000.00 138,342.40 (1,657.60) 209.12 1.1700 1.1819 AA 91412GPZ2 Taxable Muni UNIV OF CA 1.296% 5/15/18 5/15/2018 3/14/2013 250,900.96 249,632.50 (1,268.46) 414.00 1.3000 1.2984 AA 91412GWU5 Taxable Muni UNIV CALIFORNIA CA 1.418% 5/15/18 5/15/2018 3/25/2015 250,000.00 250,045.00 45.00 452.97 1.4200 1.4183 AA 91412GWV3 Taxable Muni UNIV OF CA 2.003% 5/15/19 5/15/2019 3/25/2015 250,000.00 251,875.00 1,875.00 639.85 2.0000 1.9870 AA 64990E4L8 Tax-Exempt NEW YORK ST DORM 3.000% 2/15/19 2/15/2019 10/20/2016 124,974.57 124,056.00 (918.57) 710.00 3.0000 2.8901 AAA 68609BVE4 Tax-Exempt OREGON ST TANS SER A 2.000% 6/30/17 6/30/2017 7/21/2016 472,822.74 472,556.80 (265.94) 4,177.78 2.0000 1.9891 SP-1+ 912828H94 Treasuries U S TREASURY NT 1.000% 2/15/18 2/15/2018 2/17/2015 545,934.79 545,190.75 (1,027.41) 2,058.56 1.0000 0.9991 N/A 912828K25 Treasuries U S TREASURY NT 0.750% 4/15/18 4/15/2018 4/15/2015 1,241,556.92 1,246,137.50 4,580.58 2,008.93 0.7500 0.7521 N/A 912828L40 Treasuries U S TREASURY NT 1.000% 9/15/18 9/15/2018 9/15/2015 385,972.56 384,187.65 (1,718.61) 1,148.62 1.0000 1.0021 N/A 912828M72 Treasuries U S TREASURY NT 0.875% 11/30/17 11/30/2017 11/30/2015 2,259,448.58 2,260,180.80 332.22 1,738.46 0.8800 0.8747 N/A 912828N22 Treasuries U S TREASURY NT 1.250% 12/15/18 12/15/2018 12/15/2015 1,243,924.19 1,231,340.70 (12,583.49) 718.06 1.2500 1.2487 N/A 912828N55 Treasuries U S TREASURY NT 1.000% 12/31/17 12/31/2017 12/31/2015 1,734,832.48 1,736,353.30 1,520.82 8,722.93 1.0000 0.9988 N/A 912828N63 Treasuries U S TREASURY NT 1.125% 1/15/19 1/15/2019 1/15/2016 965,542.29 958,166.40 (8,411.61) 4,989.13 1.1300 1.1270 N/A 912828P95 Treasuries U S TREASURY NT 1.000% 3/15/19 3/15/2019 3/15/2016 2,974,430.59 2,954,229.30 (20,201.29) 8,860.77 1.0000 1.0057 N/A 912828Q45 Treasuries U S TREASURY NT 0.875% 3/31/18 3/31/2018 3/31/2016 1,341,455.77 1,338,271.40 (3,184.37) 3,012.22 0.8800 0.8757 N/A 912828R51 Treasuries U S TREASURY NT 0.875% 5/31/18 5/31/2018 5/31/2016 2,527,748.96 2,525,066.50 (2,682.46) 1,956.91 0.8800 0.8766 N/A 912828R85 Treasuries U S TREASURY NT 0.875% 6/15/19 6/15/2019 6/15/2016 1,278,531.28 1,270,556.52 (7,974.76) 524.71 0.8800 0.8845 N/A 912828S43 Treasuries U S TREASURY NT 0.750% 7/15/19 7/15/2019 7/15/2016 3,535,162.11 3,498,418.50 (36,743.61) 12,299.59 0.7500 0.7611 N/A 912828T83 Treasuries U S TREASURY NT 0.750% 10/31/18 10/31/2018 10/31/2016 1,293,348.31 1,295,617.05 2,268.74 1,676.31 0.7500 0.7555 N/A 912828TS9 Treasuries U S TREASURY NT 0.625% 9/30/17 9/30/2017 10/1/2012 1,049,030.56 1,047,520.91 (1,509.65) 1,675.09 0.6300 0.6256 N/A 912828U40 Treasuries U S TREASURY NT 1.000% 11/30/18 11/30/2018 11/30/2016 1,299,605.60 1,300,824.00 1,218.40 1,147.25 1.0000 1.0032 N/A 912828UA6 Treasuries U S TREASURY NT 0.625% 11/30/17 11/30/2017 11/30/2012 2,023,823.43 2,035,226.40 11,402.97 1,120.88 0.6300 0.6262 N/A 50,707,155.54 50,567,051.49 (141,756.84) 115,932.33 44 Page 25 of 32 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount 10/3/2016 3130A9AE1 INTEREST EARNED ON F H L B 0.875% 10/01/18 $1 PV ON 510000.0000 SHARES DUE 10/1/2016 0.0000 0.000000 - - - 433.85 - - - 10/3/2016 3133EEWS5 INTEREST EARNED ON F F C B DEB 0.56489% 1/02/18 $1 PV ON 700000.0000 SHARES DUE 10/2/2016 0.0000 0.000000 - - - 329.52 - - - 10/3/2016 10/3/2016 10/3/2016 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y 763.3700 1.000000 - - - (763.37) 763.37 - - 10/3/2016 31846V203 INTEREST EARNED ON FIRST AMER GOVT OBLIG FUND CL Y UNIT ON 0.0000 SHARES DUE 9/30/2016 INTEREST FROM 9/1/16 TO 9/30/16 0.0000 0.000000 - - - 1.82 - - - 10/4/2016 10/4/2016 10/4/2016 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y 1.8200 1.000000 - - - (1.82) 1.82 - - 10/6/2016 10/6/2016 10/6/2016 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y 1,483.3300 1.000000 - - - (1,483.33) 1,483.33 - - 10/6/2016 89236TCX1 INTEREST EARNED ON TOYOTA MOTOR MTN 1.200% 4/06/18 $1 PV ON 250000.0000 SHARES DUE 10/6/2016 0.0000 0.000000 - - - 1,483.33 - - - 10/11/2016 10/7/2016 10/11/2016 3130A62S5 SOLD PAR VALUE OF F H L B 0.750% 8/28/17 /RBC CAPITAL MARKETS, LLC/340,000 PAR VALUE AT 100.031 %-340,000.0000 1.000310 - - - 340,105.40 (339,238.40) - 867.00 10/11/2016 10/11/2016 3130A62S5 RECEIVED ACCRUED INTEREST ON SALE OF F H L B 0.750% 8/28/17 0.0000 0.000000 - - - 304.58 - - - 10/11/2016 10/7/2016 10/11/2016 3130A6LZ8 SOLD PAR VALUE OF F H L B DEB 0.625% 10/26/17 /PERSHING LLC/750,000 PAR VALUE AT 99.844 %-750,000.0000 0.998440 - - - 748,830.00 (748,372.50) 457.50 - 10/11/2016 10/11/2016 3130A6LZ8 RECEIVED ACCRUED INTEREST ON SALE OF F H L B DEB 0.625% 10/26/17 0.0000 0.000000 - - - 2,148.44 - - - 10/11/2016 10/11/2016 10/11/2016 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y 106,137.4600 1.000000 - - - (106,137.46) 106,137.46 - - 10/11/2016 10/11/2016 10/11/2016 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y -117,043.0100 1.000000 - - - 117,043.01 (117,043.01) - - 10/11/2016 10/7/2016 10/11/2016 912828P95 PURCHASED PAR VALUE OF U S TREASURY NT 1.000% 3/15/19 /BARCLAYS CAPITAL INC. FIXED IN/1,100,000 PAR VALUE AT 100.13671909 %1,100,000.0000 1.001367 - - - (1,101,503.91) 1,101,503.91 - - 10/11/2016 10/11/2016 912828P95 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 1.000% 3/15/19 0.0000 0.000000 - - - (790.06) - - - 10/12/2016 084664CD1 INTEREST EARNED ON BERKSHIRE HATHAWAY 0.98859% 1/12/18 $1 PV ON 250000.0000 SHARES DUE 10/12/2016 0.0000 0.000000 - - - 617.87 - - - 10/12/2016 084664CD1 AMORTIZED PREMIUM ON BERKSHIRE HATHAWAY 0.98859% 1/12/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (57.67) - - 10/13/2016 10/13/2016 10/13/2016 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y 617.8700 1.000000 - - - (617.87) 617.87 - - 10/17/2016 31680GAB2 INTEREST EARNED ON FIFTH THIRD AUTO TRU 1.020% 5/15/18 $1 PV ON 83.3900 SHARES DUE 10/15/2016 $0.00085/PV ON 98,105.45 PV DUE 10/15/16 0.0000 0.000000 - - - 83.39 - - - 10/17/2016 10/15/2016 10/17/2016 31680GAB2 PAID DOWN PAR VALUE OF FIFTH THIRD AUTO TRU 1.020% 5/15/18 -16,043.2600 0.000000 - - - 16,043.26 (16,042.82) 0.44 - 10/17/2016 10/17/2016 10/17/2016 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y 16,618.8600 1.000000 - - - (16,618.86) 16,618.86 - - 10/17/2016 10/17/2016 10/17/2016 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y 32,264.9600 1.000000 - - - (32,264.96) 32,264.96 - - 10/17/2016 47787UAB9 INTEREST EARNED ON JOHN DEERE OWNER 0.870% 2/15/18 $1 PV ON 105.9000 SHARES DUE 10/15/2016 $0.00073/PV ON 146,072.39 PV DUE 10/15/16 0.0000 0.000000 - - - 105.90 - - - 10/17/2016 10/15/2016 10/17/2016 47787UAB9 PAID DOWN PAR VALUE OF JOHN DEERE OWNER 0.870% 2/15/18 -26,942.3900 0.000000 - - - 26,942.39 (26,940.65) - 1.74 10/17/2016 89237CAD3 INTEREST EARNED ON TOYOTA AUTO RECEIV 1.270% 5/15/19 $1 PV ON 529.1700 SHARES DUE 10/15/2016 $0.00106/PV ON 500,000.00 PV DUE 10/15/16 0.0000 0.000000 - - - 529.17 - - - 10/17/2016 89237KAD5 INTEREST EARNED ON TOYOTA AUTO 1.250% 3/16/20 $1 PV ON 208.3300 SHARES DUE 10/15/2016 $0.00104/PV ON 200,000.00 PV DUE 10/15/16 0.0000 0.000000 - - - 208.33 - - - 10/17/2016 912828K25 INTEREST EARNED ON U S TREASURY NT 0.750% 4/15/18 $1 PV ON 1250000.0000 SHARES DUE 10/15/2016 0.0000 0.000000 - - - 4,687.50 - - - 10/18/2016 161571HC1 INTEREST EARNED ON CHASE ISSUANCE TRUST 1.370% 6/15/21 $1 PV ON 856.2500 SHARES DUE 10/17/2016 $0.00114/PV ON 750,000.00 PV DUE 10/17/16 0.0000 0.000000 - - - 856.25 - - - 10/18/2016 161571HC1 AMORTIZED PREMIUM ON CHASE ISSUANCE TRUST 1.370% 6/15/21 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (137.37) - - 10/18/2016 10/18/2016 10/18/2016 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y 856.2500 1.000000 - - - (856.25) 856.25 - - 10/19/2016 3135G0E58 INTEREST EARNED ON F N M A DEB 1.125% 10/19/18 $1 PV ON 530000.0000 SHARES DUE 10/19/2016 0.0000 0.000000 - - - 2,981.25 - - - 10/19/2016 10/19/2016 10/19/2016 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y -156,495.4000 1.000000 - - - 156,495.40 (156,495.40) - - 10/19/2016 10/19/2016 10/19/2016 31846V203 PURCHASED UNITS OF FIRST AMER GOVT OBLIG FUND CL Y 185,209.8200 1.000000 - - - (185,209.82) 185,209.82 - - 10/19/2016 10/18/2016 10/19/2016 68609BVE4 PURCHASED PAR VALUE OF OREGON ST TANS SER A 2.000% 6/30/17 /J.P. MORGAN CLEARING CORP./470,000 PAR VALUE AT 100.843 %470,000.0000 1.008430 - - - (473,962.10) 473,962.10 - - 10/19/2016 10/19/2016 68609BVE4 PAID ACCRUED INTEREST ON PURCHASE OF OREGON ST TANS SER A 2.000% 6/30/17 0.0000 0.000000 - - - (2,297.78) - - - 10/19/2016 912828D98 AMORTIZED PREMIUM ON U S TREASURY NT 1.000% 9/15/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (223.53) - - 10/19/2016 10/18/2016 10/19/2016 912828D98 SOLD PAR VALUE OF U S TREASURY NT 1.000% 9/15/17 /MLPFS INC/FIXED INCOME/XOTC 500,000 PAR VALUE AT 100.304688 %-500,000.0000 1.003047 - - - 501,523.44 (500,461.76) - 1,061.68 Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2016 ATTACHMENT 13 45 Page 26 of 32 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2016 10/19/2016 10/19/2016 912828D98 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.000% 9/15/17 0.0000 0.000000 - - - 469.61 - - - 10/20/2016 05581RAD8 INTEREST EARNED ON BMW VEHICLE LEASE 1.340% 1/22/19 $1 PV ON 670.0000 SHARES DUE 10/20/2016 $0.00112/PV ON 600,000.00 PV DUE 10/20/16 0.0000 0.000000 - - - 670.00 - - - 10/20/2016 10/20/2016 10/20/2016 31846V203 SOLD UNITS OF FIRST AMER GOVT OBLIG FUND CL Y -124,372.5800 1.000000 - - - 124,372.58 (124,372.58) - - 10/20/2016 10/20/2016 10/20/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 19,009.9000 1.000000 - - - (19,009.90) 19,009.90 - - 10/20/2016 36159LCN4 INTEREST EARNED ON GE DEALER FLOORPLA 0.98178% 10/20/19 $1 PV ON 388.6200 SHARES DUE 10/20/2016 $0.00082/PV ON 475,000.00 PV DUE 10/20/16 0.0000 0.000000 - - - 388.62 - - - 10/20/2016 36159LCN4 AMORTIZED PREMIUM ON GE DEALER FLOORPLA 0.98178% 10/20/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (7.48) - - 10/20/2016 10/7/2016 10/20/2016 64990E4L8 PURCHASED PAR VALUE OF NEW YORK ST DORM 3.000% 2/15/19 /CITIGROUP GLOBAL MARKETS, INC./120,000 PAR VALUE AT 104.526 %120,000.0000 1.045260 - - - (125,431.20) 125,431.20 - - 10/20/2016 92867VAB6 INTEREST EARNED ON VOLKSWAGEN AUTO 0.870% 6/20/17 $1 PV ON 29.2700 SHARES DUE 10/20/2016 $0.00073/PV ON 40,370.99 PV DUE 10/20/16 0.0000 0.000000 - - - 29.27 - - - 10/20/2016 10/20/2016 10/20/2016 92867VAB6 PAID DOWN PAR VALUE OF VOLKSWAGEN AUTO 0.870% 6/20/17 -18,980.6300 0.000000 - - - 18,980.63 (18,961.95) - 18.68 10/21/2016 10/20/2016 10/21/2016 3130A7CX1 SOLD PAR VALUE OF F H L B 0.875% 3/19/18 /BMO CAPITAL MARKETS CORP./520,000 PAR VALUE AT 100.061467 %-520,000.0000 1.000615 - - - 520,319.63 (519,838.80) 480.83 - 10/21/2016 10/21/2016 3130A7CX1 RECEIVED ACCRUED INTEREST ON SALE OF F H L B 0.875% 3/19/18 0.0000 0.000000 - - - 404.44 - - - 10/21/2016 10/20/2016 10/21/2016 3137EADX4 SOLD PAR VALUE OF F H L M C 1.000% 12/15/17 /WELLS FARGO SECURITIES, LLC/XOTC 820,000 PAR VALUE AT 100.251 %-820,000.0000 1.002510 - - - 822,058.20 (819,155.40) 2,902.80 - 10/21/2016 10/21/2016 3137EADX4 RECEIVED ACCRUED INTEREST ON SALE OF F H L M C 1.000% 12/15/17 0.0000 0.000000 - - - 2,870.00 - - - 10/21/2016 10/21/2016 10/21/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 83,200.3100 1.000000 - - - (83,200.31) 83,200.31 - - 10/21/2016 10/21/2016 10/21/2016 31846V203 SOLD UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y -79,847.1400 1.000000 - - - 79,847.14 (79,847.14) - - 10/21/2016 10/20/2016 10/21/2016 912828Q45 PURCHASED PAR VALUE OF U S TREASURY NT 0.875% 3/31/18 /BMO CAPITAL MARKETS CORP/BONDS/1,340,000 PAR VALUE AT 100.12109403 %1,340,000.0000 1.001211 - - - (1,341,622.66) 1,341,622.66 - - 10/21/2016 10/21/2016 912828Q45 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 0.875% 3/31/18 0.0000 0.000000 - - - (676.44) - - - 10/24/2016 10/24/2016 10/24/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 5,099.3000 1.000000 - - - (5,099.30) 5,099.30 - - 10/24/2016 89236TAY1 INTEREST EARNED ON TOYOTA MOTOR MTN 2.000% 10/24/18 $1 PV ON 340000.0000 SHARES DUE 10/24/2016 0.0000 0.000000 - - - 3,400.00 - - - 10/24/2016 89236TAY1 AMORTIZED PREMIUM ON TOYOTA MOTOR MTN 2.000% 10/24/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (899.98) - - 10/24/2016 94974BFK1 INTEREST EARNED ON WELLS FARGO MTN 1.3445% 4/23/18 $1 PV ON 500000.0000 SHARES DUE 10/23/2016 0.0000 0.000000 - - - 1,699.30 - - - 10/24/2016 94974BFK1 AMORTIZED PREMIUM ON WELLS FARGO MTN 1.3445% 4/23/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (227.70) - - 10/25/2016 TRUST FEES COLLECTED CHARGED FOR PERIOD 09/01/2016 THRU 09/30/2016 COLLECTED BY DISBURSEMENT 0.0000 0.000000 - - - (527.89) - - - 10/25/2016 05582QAD9 INTEREST EARNED ON BMW VEHICLE OWNER 1.160% 11/25/20 $1 PV ON 439.8300 SHARES DUE 10/25/2016 $0.00097/PV ON 455,000.00 PV DUE 10/25/16 0.0000 0.000000 - - - 439.83 - - - 10/25/2016 3136AMTM1 INTEREST EARNED ON F N M A GTD REMIC 0.3845% 9/25/18 $1 PV ON 260.7900 SHARES DUE 10/25/2016 $0.00060/PV ON 432,184.79 PV DUE 10/25/16 0.0000 0.000000 - - - 260.79 - - - 10/25/2016 10/25/2016 10/25/2016 3136AMTM1 PAID DOWN PAR VALUE OF F N M A GTD REMIC 0.3845% 9/25/18 -5,163.8400 0.000000 - - - 5,163.84 (5,162.52) - 1.32 10/25/2016 3137BNN26 INTEREST EARNED ON F H L M C MLTCL MTG 1.780% 7/25/19 $1 PV ON 318.9200 SHARES DUE 10/25/2016 $0.00148/PV ON 215,000.00 PV DUE 10/25/16 0.0000 0.000000 - - - 318.92 - - - 10/25/2016 3137BNN26 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 1.780% 7/25/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (54.39) - - 10/25/2016 3137BPCF4 INTEREST EARNED ON F H L M C MLTCL MTG 1.376% 10/25/20 $1 PV ON 431.6000 SHARES DUE 10/25/2016 $0.00115/PV ON 376,399.24 PV DUE 10/25/16 0.0000 0.000000 - - - 431.60 - - - 10/25/2016 10/25/2016 10/25/2016 3137BPCF4 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.376% 10/25/20 -998.4000 0.000000 - - - 998.40 (998.39) 0.01 - 10/25/2016 10/25/2016 10/25/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 1,872.4100 1.000000 - - - (1,872.41) 1,872.41 - - 10/25/2016 10/25/2016 10/25/2016 31846V203 SOLD UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y -527.8900 1.000000 - - - 527.89 (527.89) - - 10/25/2016 47788NAC2 INTEREST EARNED ON JOHN DEERE OWNER 1.250% 6/15/20 $1 PV ON 275000.0000 SHARES DUE 10/15/2016 0.0000 0.000000 - - - 286.46 - - - 10/26/2016 3134G9AF4 ACCREDITED DISCOUNT ON F H L M C M T N 1.050% 4/26/18 CURRENT YEAR MARKET DISCOUNT 0.0000 0.000000 - - - - 276.00 - - 10/26/2016 10/26/2016 10/26/2016 3134G9AF4 FULL CALL PAR VALUE OF F H L M C M T N 1.050% 4/26/18 /CALLS/-690,000.0000 1.000000 - - - 690,000.00 (690,000.00) - - 46 Page 27 of 32 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2016 10/26/2016 3134G9AF4 INTEREST EARNED ON F H L M C M T N 1.050% 4/26/18 $1 PV ON 690000.0000 SHARES DUE 10/26/2016 0.0000 0.000000 - - - 3,622.50 - - - 10/26/2016 10/26/2016 10/26/2016 31846V203 SOLD UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y -9.4700 1.000000 - - - 9.47 (9.47) - - 10/26/2016 10/26/2016 10/26/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 699,375.5200 1.000000 - - - (699,375.52) 699,375.52 - - 10/27/2016 191216BR0 INTEREST EARNED ON COCA COLA CO THE 0.875% 10/27/17 $1 PV ON 36000.0000 SHARES DUE 10/27/2016 0.0000 0.000000 - - - 157.50 - - - 10/27/2016 10/27/2016 10/27/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 157.5000 1.000000 - - - (157.50) 157.50 - - 10/28/2016 10/28/2016 10/28/2016 31846V203 SOLD UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y -683,444.7700 1.000000 - - - 683,444.77 (683,444.77) - - 10/28/2016 10/27/2016 10/28/2016 912828M72 PURCHASED PAR VALUE OF U S TREASURY NT 0.875% 11/30/17 /BONY/TORONTO DOMINION SECURITI/380,000 PAR VALUE AT 100.14453158 %380,000.0000 1.001445 - - - (380,549.22) 380,549.22 - - 10/28/2016 10/28/2016 912828M72 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 0.875% 11/30/17 0.0000 0.000000 - - - (1,362.70) - - - 10/28/2016 10/27/2016 10/28/2016 912828M72 PURCHASED PAR VALUE OF U S TREASURY NT 0.875% 11/30/17 /BNY/MIZUHO SECURITIES USA INC./300,000 PAR VALUE AT 100.15234333 %300,000.0000 1.001523 - - - (300,457.03) 300,457.03 - - 10/28/2016 10/28/2016 912828M72 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 0.875% 11/30/17 0.0000 0.000000 - - - (1,075.82) - - - 10/31/2016 10/29/2016 10/29/2016 3134G72P5 FULL CALL PAR VALUE OF F H L M C 1.200% 10/29/18 /CALLS/-500,000.0000 1.000000 - - - 500,000.00 (500,000.00) - - 10/31/2016 3134G72P5 INTEREST EARNED ON F H L M C 1.200% 10/29/18 $1 PV ON 500000.0000 SHARES DUE 10/29/2016 0.0000 0.000000 - - - 3,000.00 - - - 10/31/2016 10/31/2016 10/31/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 643,965.3600 1.000000 - - - (643,965.36) 643,965.36 - - 10/31/2016 912828N63 AMORTIZED PREMIUM ON U S TREASURY NT 1.125% 1/15/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (436.15) - - 10/31/2016 10/27/2016 10/31/2016 912828N63 SOLD PAR VALUE OF U S TREASURY NT 1.125% 1/15/19 /CITIGROUP GLOBAL MARKETS INC./XOTC 140,000 PAR VALUE AT 100.359375 %-140,000.0000 1.003594 - - - 140,503.13 (141,025.22) (522.09) - 10/31/2016 10/31/2016 912828N63 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.125% 1/15/19 0.0000 0.000000 - - - 462.23 - - - 11/1/2016 13063CFD7 AMORTIZED PREMIUM ON CALIFORNIA ST 1.250% 11/01/16 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (872.08) - - 11/1/2016 11/1/2016 11/1/2016 13063CFD7 MATURED PAR VALUE OF CALIFORNIA ST 1.250% 11/01/16 350,000 PAR VALUE AT 100 %-350,000.0000 1.000000 - - - 350,000.00 (350,000.00) - - 11/1/2016 13063CFD7 INTEREST EARNED ON CALIFORNIA ST 1.250% 11/01/16 $1 PV ON 350000.0000 SHARES DUE 11/1/2016 0.0000 0.000000 - - - 2,187.50 - - - 11/1/2016 19416QDU1 INTEREST EARNED ON COLGATE PALM MTN 2.625% 5/01/17 $1 PV ON 505000.0000 SHARES DUE 11/1/2016 0.0000 0.000000 - - - 6,628.13 - - - 11/1/2016 19416QDU1 ACCREDITED DISCOUNT ON COLGATE PALM MTN 2.625% 5/01/17 CURRENT YEAR OID 0.0000 0.000000 - - - - 199.03 - - 11/1/2016 19416QDU1 ACCREDITED DISCOUNT ON COLGATE PALM MTN 2.625% 5/01/17 CURRENT YEAR ACQ. PREMIUM OID 0.0000 0.000000 - - - - (199.03) - - 11/1/2016 19416QDU1 AMORTIZED PREMIUM ON COLGATE PALM MTN 2.625% 5/01/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (4,288.70) - - 11/1/2016 11/1/2016 11/1/2016 31846V203 SOLD UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y -110,184.9300 1.000000 - - - 110,184.93 (110,184.93) - - 11/1/2016 31846V203 INTEREST EARNED ON FIRST AMERICAN GOVT OBLIG FUND CL Y UNIT ON 0.0000 SHARES DUE 10/31/2016 INTEREST FROM 10/1/16 TO 10/31/16 0.0000 0.000000 - - - 0.90 - - - 11/1/2016 6055806F1 INTEREST EARNED ON MISSISSIPPI ST SER D 3.381% 11/01/18 $1 PV ON 100000.0000 SHARES DUE 11/1/2016 0.0000 0.000000 - - - 1,690.50 - - - 11/1/2016 6055806F1 AMORTIZED PREMIUM ON MISSISSIPPI ST SER D 3.381% 11/01/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (914.69) - - 11/1/2016 702282ND2 INTEREST EARNED ON PASADENA CA UNIF 1.861% 11/01/18 $1 PV ON 250000.0000 SHARES DUE 11/1/2016 0.0000 0.000000 - - - 2,326.25 - - - 11/1/2016 702282ND2 AMORTIZED PREMIUM ON PASADENA CA UNIF 1.861% 11/01/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (295.26) - - 11/1/2016 10/31/2016 11/1/2016 912828N55 PURCHASED PAR VALUE OF U S TREASURY NT 1.000% 12/31/17 /CITIGROUP GLOBAL MARKETS INC./470,000 PAR VALUE AT 100.3050234 %470,000.0000 1.003050 - - - (471,433.61) 471,433.61 - - 11/1/2016 11/1/2016 912828N55 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 1.000% 12/31/17 0.0000 0.000000 - - - (1,583.70) - - - 11/2/2016 3133EEWS5 INTEREST EARNED ON F F C B DEB 0.56722% 1/02/18 $1 PV ON 700000.0000 SHARES DUE 11/2/2016 0.0000 0.000000 - - - 341.91 - - - 11/2/2016 11/2/2016 11/2/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 342.8100 1.000000 - - - (342.81) 342.81 - - 11/3/2016 037833AG5 INTEREST EARNED ON APPLE INC 1.03152% 5/03/18 $1 PV ON 250000.0000 SHARES DUE 11/3/2016 0.0000 0.000000 - - - 644.70 - - - 11/3/2016 037833AG5 AMORTIZED PREMIUM ON APPLE INC 1.03152% 5/03/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (57.98) - - 11/3/2016 10/27/2016 11/3/2016 13063C4V9 PURCHASED PAR VALUE OF CALIFORNIA ST 1.050% 11/01/18 /JEFFERIES LLC/150,000 PAR VALUE AT 99.925 %150,000.0000 0.999250 - - - (149,887.50) 149,887.50 - - 11/3/2016 11/3/2016 11/3/2016 31846V203 SOLD UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y -144,367.8000 1.000000 - - - 144,367.80 (144,367.80) - - 47 Page 28 of 32 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2016 11/3/2016 594918BF0 INTEREST EARNED ON MICROSOFT CORP 1.300% 11/03/18 $1 PV ON 750000.0000 SHARES DUE 11/3/2016 0.0000 0.000000 - - - 4,875.00 - - - 11/3/2016 594918BF0 AMORTIZED PREMIUM ON MICROSOFT CORP 1.300% 11/03/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (429.15) - - 11/14/2016 037833BB5 INTEREST EARNED ON APPLE INC 0.900% 5/12/17 $1 PV ON 120000.0000 SHARES DUE 11/13/2016 0.0000 0.000000 - - - 540.00 - - - 11/14/2016 11/14/2016 11/14/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 540.0000 1.000000 - - - (540.00) 540.00 - - 11/15/2016 11/9/2016 11/15/2016 05581RAD8 SOLD PAR VALUE OF BMW VEHICLE LEASE 1.340% 1/22/19 /BARCLAYS CAPITAL INC. FIXED IN/600,000 PAR VALUE AT 100.164063 %-600,000.0000 1.001641 - - - 600,984.38 (599,929.50) 1,054.88 - 11/15/2016 11/15/2016 05581RAD8 RECEIVED ACCRUED INTEREST ON SALE OF BMW VEHICLE LEASE 1.340% 1/22/19 0.0000 0.000000 - - - 558.33 - - - 11/15/2016 161571HC1 INTEREST EARNED ON CHASE ISSUANCE TRUST 1.370% 6/15/21 $1 PV ON 750000.0000 SHARES DUE 11/15/2016 0.0000 0.000000 - - - 856.25 - - - 11/15/2016 161571HC1 AMORTIZED PREMIUM ON CHASE ISSUANCE TRUST 1.370% 6/15/21 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (105.63) - - 11/15/2016 31680GAB2 INTEREST EARNED ON FIFTH THIRD AUTO TRU 1.020% 5/15/18 $1 PV ON 69.7500 SHARES DUE 11/15/2016 $0.00085/PV ON 82,062.19 PV DUE 11/15/16 0.0000 0.000000 - - - 69.75 - - - 11/15/2016 11/15/2016 11/15/2016 31680GAB2 PAID DOWN PAR VALUE OF FIFTH THIRD AUTO TRU 1.020% 5/15/18 -14,573.6200 0.000000 - - - 14,573.62 (14,573.22) - 0.40 11/15/2016 11/15/2016 11/15/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 1,348.4600 1.000000 - - - (1,348.46) 1,348.46 - - 11/15/2016 11/15/2016 11/15/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 667,463.2200 1.000000 - - - (667,463.22) 667,463.22 - - 11/15/2016 47787UAB9 INTEREST EARNED ON JOHN DEERE OWNER 0.870% 2/15/18 $1 PV ON 86.3700 SHARES DUE 11/15/2016 $0.00073/PV ON 119,130.00 PV DUE 11/15/16 0.0000 0.000000 - - - 86.37 - - - 11/15/2016 11/15/2016 11/15/2016 47787UAB9 PAID DOWN PAR VALUE OF JOHN DEERE OWNER 0.870% 2/15/18 -40,778.0900 0.000000 - - - 40,778.09 (40,775.46) - 2.63 11/15/2016 717081DP5 INTEREST EARNED ON PFIZER INC 0.967% 5/15/17 $1 PV ON 250000.0000 SHARES DUE 11/15/2016 0.0000 0.000000 - - - 617.81 - - - 11/15/2016 717081DP5 AMORTIZED PREMIUM ON PFIZER INC 0.967% 5/15/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (2.18) - - 11/15/2016 89237CAD3 INTEREST EARNED ON TOYOTA AUTO RECEIV 1.270% 5/15/19 $1 PV ON 529.1700 SHARES DUE 11/15/2016 $0.00106/PV ON 500,000.00 PV DUE 11/15/16 0.0000 0.000000 - - - 529.17 - - - 11/15/2016 89237KAD5 INTEREST EARNED ON TOYOTA AUTO 1.250% 3/16/20 $1 PV ON 208.3300 SHARES DUE 11/15/2016 $0.00104/PV ON 200,000.00 PV DUE 11/15/16 0.0000 0.000000 - - - 208.33 - - - 11/15/2016 91159HHE3 INTEREST EARNED ON US BANCORP MTN 1.950% 11/15/18 $1 PV ON 250000.0000 SHARES DUE 11/15/2016 0.0000 0.000000 - - - 2,437.50 - - - 11/15/2016 91159HHE3 AMORTIZED PREMIUM ON US BANCORP MTN 1.950% 11/15/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (738.56) - - 11/15/2016 91412GD36 INTEREST EARNED ON UNIV OF CA 1.169% 5/15/19 $1 PV ON 140000.0000 SHARES DUE 11/15/2016 0.0000 0.000000 - - - 931.95 - - - 11/15/2016 91412GPZ2 INTEREST EARNED ON UNIV OF CA 1.296% 5/15/18 $1 PV ON 250000.0000 SHARES DUE 11/15/2016 0.0000 0.000000 - - - 1,620.00 - - - 11/15/2016 91412GPZ2 AMORTIZED PREMIUM ON UNIV OF CA 1.296% 5/15/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (82.42) - - 11/15/2016 91412GWU5 INTEREST EARNED ON UNIV CALIFORNIA CA 1.418% 5/15/18 $1 PV ON 250000.0000 SHARES DUE 11/15/2016 0.0000 0.000000 - - - 1,772.50 - - - 11/15/2016 91412GWV3 INTEREST EARNED ON UNIV OF CA 2.003% 5/15/19 $1 PV ON 250000.0000 SHARES DUE 11/15/2016 0.0000 0.000000 - - - 2,503.75 - - - 11/16/2016 166764BA7 INTEREST EARNED ON CHEVRON CORP 1.790% 11/16/18 $1 PV ON 250000.0000 SHARES DUE 11/16/2016 0.0000 0.000000 - - - 2,237.50 - - - 11/16/2016 166764BA7 AMORTIZED PREMIUM ON CHEVRON CORP 1.790% 11/16/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (467.35) - - 11/16/2016 11/16/2016 11/16/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 2,237.5000 1.000000 - - - (2,237.50) 2,237.50 - - 11/21/2016 11/21/2016 11/21/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 18,300.0000 1.000000 - - - (18,300.00) 18,300.00 - - 11/21/2016 36159LCN4 AMORTIZED PREMIUM ON GE DEALER FLOORPLA 0.98178% 10/20/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (7.55) - - 11/21/2016 36159LCN4 INTEREST EARNED ON GE DEALER FLOORPLA 0.98178% 10/20/19 $1 PV ON 411.9500 SHARES DUE 11/20/2016 $0.00087/PV ON 475,000.00 PV DUE 11/20/16 0.0000 0.000000 - - - 411.95 - - - 11/21/2016 58933YAH8 INTEREST EARNED ON MERCK CO INC 0.9861% 5/18/18 $1 PV ON 750000.0000 SHARES DUE 11/18/2016 0.0000 0.000000 - - - 2,225.79 - - - 11/21/2016 58933YAH8 AMORTIZED PREMIUM ON MERCK CO INC 0.9861% 5/18/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (218.97) - - 11/21/2016 92867VAB6 INTEREST EARNED ON VOLKSWAGEN AUTO 0.870% 6/20/17 $1 PV ON 15.5100 SHARES DUE 11/20/2016 $0.00073/PV ON 21,390.36 PV DUE 11/20/16 0.0000 0.000000 - - - 15.51 - - - 11/21/2016 11/20/2016 11/21/2016 92867VAB6 PAID DOWN PAR VALUE OF VOLKSWAGEN AUTO 0.870% 6/20/17 -17,872.5400 0.000000 - - - 17,872.54 (17,854.95) - 17.59 48 Page 29 of 32 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2016 11/22/2016 11/22/2016 11/22/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 2.5800 1.000000 - - - (2.58) 2.58 - - 11/22/2016 11/22/2016 11/22/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 2,225.7900 1.000000 - - - (2,225.79) 2,225.79 - - 11/22/2016 47788NAC2 INTEREST EARNED ON JOHN DEERE OWNER 1.250% 6/15/20 $1 PV ON 275000.0000 SHARES DUE 11/21/2016 0.0000 0.000000 - - - 286.46 - - - 11/23/2016 11/23/2016 11/23/2016 31846V203 SOLD UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y -755,622.1500 1.000000 - - - 755,622.15 (755,622.15) - - 11/23/2016 11/18/2016 11/23/2016 912828R85 PURCHASED PAR VALUE OF U S TREASURY NT 0.875% 6/15/19 /BMO CAPITAL MARKETS CORP/BONDS/760,000 PAR VALUE AT 99.03906316 %760,000.0000 0.990391 - - - (752,696.88) 752,696.88 - - 11/23/2016 11/23/2016 912828R85 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 0.875% 6/15/19 0.0000 0.000000 - - - (2,925.27) - - - 11/25/2016 TRUST FEES COLLECTED CHARGED FOR PERIOD 10/01/2016 THRU 10/31/2016 COLLECTED BY DISBURSEMENT 0.0000 0.000000 - - - (527.65) - - - 11/25/2016 05582QAD9 INTEREST EARNED ON BMW VEHICLE OWNER 1.160% 11/25/20 $1 PV ON 455000.0000 SHARES DUE 11/25/2016 0.0000 0.000000 - - - 439.83 - - - 11/25/2016 3136AMTM1 INTEREST EARNED ON F N M A GTD REMIC 0.3845% 9/25/18 $1 PV ON 272.7600 SHARES DUE 11/25/2016 $0.00064/PV ON 427,020.95 PV DUE 11/25/16 0.0000 0.000000 - - - 272.76 - - - 11/25/2016 11/25/2016 11/25/2016 3136AMTM1 PAID DOWN PAR VALUE OF F N M A GTD REMIC 0.3845% 9/25/18 -416.1200 0.000000 - - - 416.12 (416.01) - 0.11 11/25/2016 3137BNN26 INTEREST EARNED ON F H L M C MLTCL MTG 1.780% 7/25/19 $1 PV ON 318.9200 SHARES DUE 11/25/2016 $0.00148/PV ON 215,000.00 PV DUE 11/25/16 0.0000 0.000000 - - - 318.92 - - - 11/25/2016 3137BNN26 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 1.780% 7/25/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (56.21) - - 11/25/2016 3137BPCF4 INTEREST EARNED ON F H L M C MLTCL MTG 1.376% 10/25/20 $1 PV ON 430.4600 SHARES DUE 11/25/2016 $0.00115/PV ON 375,400.84 PV DUE 11/25/16 0.0000 0.000000 - - - 430.46 - - - 11/25/2016 11/25/2016 11/25/2016 3137BPCF4 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.376% 10/25/20 -910.8200 0.000000 - - - 910.82 (910.81) 0.01 - 11/25/2016 11/25/2016 11/25/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 439.8300 1.000000 - - - (439.83) 439.83 - - 11/25/2016 11/25/2016 11/25/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 1,821.4300 1.000000 - - - (1,821.43) 1,821.43 - - 11/30/2016 191216BV1 INTEREST EARNED ON COCA COLA CO 1.375% 5/30/19 $1 PV ON 250000.0000 SHARES DUE 11/30/2016 0.0000 0.000000 - - - 1,718.75 - - - 11/30/2016 11/30/2016 11/30/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 29,050.0000 1.000000 - - - (29,050.00) 29,050.00 - - 11/30/2016 912828M72 INTEREST EARNED ON U S TREASURY NT 0.875% 11/30/17 $1 PV ON 2260000.0000 SHARES DUE 11/30/2016 0.0000 0.000000 - - - 9,887.50 - - - 11/30/2016 912828M72 AMORTIZED PREMIUM ON U S TREASURY NT 0.875% 11/30/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (415.37) - - 11/30/2016 912828R51 INTEREST EARNED ON U S TREASURY NT 0.875% 5/31/18 $1 PV ON 2530000.0000 SHARES DUE 11/30/2016 0.0000 0.000000 - - - 11,068.75 - - - 11/30/2016 912828UA6 INTEREST EARNED ON U S TREASURY NT 0.625% 11/30/17 $1 PV ON 2040000.0000 SHARES DUE 11/30/2016 0.0000 0.000000 - - - 6,375.00 - - - 12/1/2016 12/1/2016 12/1/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 697.3800 1.000000 - - - (697.38) 697.38 - - 12/1/2016 31846V203 INTEREST EARNED ON FIRST AMERICAN GOVT OBLIG FUND CL Y UNIT ON 0.0000 SHARES DUE 11/30/2016 INTEREST FROM 11/1/16 TO 11/30/16 0.0000 0.000000 - - - 3.32 - - - 12/1/2016 54473ERP1 INTEREST EARNED ON LOS ANGELES CNTY CA 1.507% 12/01/17 $1 PV ON 25000.0000 SHARES DUE 12/1/2016 0.0000 0.000000 - - - 188.38 - - - 12/1/2016 54473ERQ9 INTEREST EARNED ON LOS ANGELES CNTY CA 2.036% 12/01/18 $1 PV ON 50000.0000 SHARES DUE 12/1/2016 0.0000 0.000000 - - - 509.00 - - - 12/2/2016 3133EEWS5 INTEREST EARNED ON F F C B DEB 0.57378% 1/02/18 $1 PV ON 700000.0000 SHARES DUE 12/2/2016 0.0000 0.000000 - - - 334.71 - - - 12/2/2016 12/2/2016 12/2/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 3,213.0300 1.000000 - - - (3,213.03) 3,213.03 - - 12/2/2016 94974BFW5 INTEREST EARNED ON WELLS FARGO COM MTN 1.150% 6/02/17 $1 PV ON 500000.0000 SHARES DUE 12/2/2016 0.0000 0.000000 - - - 2,875.00 - - - 12/2/2016 94974BFW5 AMORTIZED PREMIUM ON WELLS FARGO COM MTN 1.150% 6/02/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (116.71) - - 12/5/2016 12/5/2016 12/5/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 1,812.5000 1.000000 - - - (1,812.50) 1,812.50 - - 12/5/2016 717081DU4 INTEREST EARNED ON PFIZER INC 1.450% 6/03/19 $1 PV ON 250000.0000 SHARES DUE 12/3/2016 0.0000 0.000000 - - - 1,812.50 - - - 12/6/2016 06406HCK3 INTEREST EARNED ON BANK OF NY MTN 1.28928% 3/06/18 $1 PV ON 750000.0000 SHARES DUE 12/6/2016 0.0000 0.000000 - - - 2,417.40 - - - 12/6/2016 06406HCK3 AMORTIZED PREMIUM ON BANK OF NY MTN 1.28928% 3/06/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (116.03) - - 12/6/2016 12/6/2016 12/6/2016 31846V203 SOLD UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y -97,582.6000 1.000000 - - - 97,582.60 (97,582.60) - - 12/6/2016 11/16/2016 12/6/2016 544445AY5 PURCHASED PAR VALUE OF LOS ANGELES CA DEPT 1.750% 5/15/19 /RBC CAPITAL MARKETS, LLC/100,000 PAR VALUE AT 100 %100,000.0000 1.000000 - - - (100,000.00) 100,000.00 - - 12/8/2016 12/7/2016 12/8/2016 3130AAE46 PURCHASED PAR VALUE OF F H L B 1.250% 1/16/19 /MLPFS INC/FIXED INCOME/1,010,000 PAR VALUE AT 99.996 %1,010,000.0000 0.999960 - - - (1,009,959.60) 1,009,959.60 - - 12/8/2016 12/8/2016 12/8/2016 31846V203 SOLD UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y -260,274.7200 1.000000 - - - 260,274.72 (260,274.72) - - 12/8/2016 912828TS9 ACCREDITED DISCOUNT ON U S TREASURY NT 0.625% 9/30/17 CURRENT YEAR OID 0.0000 0.000000 - - - - 102.42 - - 49 Page 30 of 32 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2016 12/8/2016 912828TS9 ACCREDITED DISCOUNT ON U S TREASURY NT 0.625% 9/30/17 CURRENT YEAR ACQ. PREMIUM OID 0.0000 0.000000 - - - - (102.42) - - 12/8/2016 912828TS9 AMORTIZED PREMIUM ON U S TREASURY NT 0.625% 9/30/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (22.09) - - 12/8/2016 12/7/2016 12/8/2016 912828TS9 SOLD PAR VALUE OF U S TREASURY NT 0.625% 9/30/17 /NOMURA SECURITIES/FIX INCOME/750,000 PAR VALUE AT 99.839509 %-750,000.0000 0.998395 - - - 748,796.32 (750,023.91) - (1,227.59) 12/8/2016 12/8/2016 912828TS9 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.625% 9/30/17 0.0000 0.000000 - - - 888.56 - - - 12/13/2016 3135G0K77 INTEREST EARNED ON F N M A DEB 1.250% 6/13/19 $1 PV ON 490000.0000 SHARES DUE 12/13/2016 0.0000 0.000000 - - - 3,062.50 - - - 12/13/2016 12/13/2016 12/13/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 109,672.9000 1.000000 - - - (109,672.90) 109,672.90 - - 12/13/2016 36962G2G8 AMORTIZED PREMIUM ON GEN ELEC CAP CRP MTN 5.400% 2/15/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (1,499.02) - - 12/13/2016 12/8/2016 12/13/2016 36962G2G8 SOLD PAR VALUE OF GEN ELEC CAP CRP MTN 5.400% 2/15/17 /MORGAN STANLEY & CO. LLC/104,000 PAR VALUE AT 100.74 %-104,000.0000 1.007400 - - - 104,769.60 (104,786.74) - (17.14) 12/13/2016 12/13/2016 36962G2G8 RECEIVED ACCRUED INTEREST ON SALE OF GEN ELEC CAP CRP MTN 5.400% 2/15/17 0.0000 0.000000 - - - 1,840.80 - - - 12/14/2016 12/14/2016 12/14/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 2,380.7500 1.000000 - - - (2,380.75) 2,380.75 - - 12/14/2016 48125LRD6 INTEREST EARNED ON JP MORGAN CHASE MT 1.25578% 6/14/17 $1 PV ON 750000.0000 SHARES DUE 12/14/2016 0.0000 0.000000 - - - 2,380.75 - - - 12/15/2016 161571HC1 INTEREST EARNED ON CHASE ISSUANCE TRUST 1.370% 6/15/21 $1 PV ON 750000.0000 SHARES DUE 12/15/2016 0.0000 0.000000 - - - 856.25 - - - 12/15/2016 161571HC1 AMORTIZED PREMIUM ON CHASE ISSUANCE TRUST 1.370% 6/15/21 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (92.80) - - 12/15/2016 17275RAU6 INTEREST EARNED ON CISCO SYSTEMS INC 1.650% 6/15/18 $1 PV ON 400000.0000 SHARES DUE 12/15/2016 0.0000 0.000000 - - - 3,300.00 - - - 12/15/2016 31680GAB2 INTEREST EARNED ON FIFTH THIRD AUTO TRU 1.020% 5/15/18 $1 PV ON 57.3700 SHARES DUE 12/15/2016 $0.00085/PV ON 67,488.57 PV DUE 12/15/16 0.0000 0.000000 - - - 57.37 - - - 12/15/2016 12/15/2016 12/15/2016 31680GAB2 PAID DOWN PAR VALUE OF FIFTH THIRD AUTO TRU 1.020% 5/15/18 -13,945.8900 0.000000 - - - 13,945.89 (13,945.51) - 0.38 12/15/2016 12/15/2016 12/15/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 28,765.7600 1.000000 - - - (28,765.76) 28,765.76 - - 12/15/2016 12/15/2016 12/15/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 31,345.7600 1.000000 - - - (31,345.76) 31,345.76 - - 12/15/2016 47787UAB9 INTEREST EARNED ON JOHN DEERE OWNER 0.870% 2/15/18 $1 PV ON 56.8100 SHARES DUE 12/15/2016 $0.00073/PV ON 78,351.91 PV DUE 12/15/16 0.0000 0.000000 - - - 56.81 - - - 12/15/2016 12/15/2016 12/15/2016 47787UAB9 PAID DOWN PAR VALUE OF JOHN DEERE OWNER 0.870% 2/15/18 -27,568.8200 0.000000 - - - 27,568.82 (27,567.05) - 1.77 12/15/2016 89237CAD3 INTEREST EARNED ON TOYOTA AUTO RECEIV 1.270% 5/15/19 $1 PV ON 529.1700 SHARES DUE 12/15/2016 $0.00106/PV ON 500,000.00 PV DUE 12/15/16 0.0000 0.000000 - - - 529.17 - - - 12/15/2016 89237KAD5 INTEREST EARNED ON TOYOTA AUTO 1.250% 3/16/20 $1 PV ON 208.3300 SHARES DUE 12/15/2016 $0.00104/PV ON 200,000.00 PV DUE 12/15/16 0.0000 0.000000 - - - 208.33 - - - 12/15/2016 912828N22 INTEREST EARNED ON U S TREASURY NT 1.250% 12/15/18 $1 PV ON 1230000.0000 SHARES DUE 12/15/2016 0.0000 0.000000 - - - 7,687.50 - - - 12/15/2016 912828N22 AMORTIZED PREMIUM ON U S TREASURY NT 1.250% 12/15/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (1,929.71) - - 12/15/2016 912828R85 INTEREST EARNED ON U S TREASURY NT 0.875% 6/15/19 $1 PV ON 1284000.0000 SHARES DUE 12/15/2016 0.0000 0.000000 - - - 5,617.50 - - - 12/15/2016 912828R85 AMORTIZED PREMIUM ON U S TREASURY NT 0.875% 6/15/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (185.03) - - 12/19/2016 12/19/2016 12/19/2016 31846V203 SOLD UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y -89,350.9600 1.000000 - - - 89,350.96 (89,350.96) - - 12/19/2016 912828D98 AMORTIZED PREMIUM ON U S TREASURY NT 1.000% 9/15/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (310.65) - - 12/19/2016 12/15/2016 12/19/2016 912828D98 SOLD PAR VALUE OF U S TREASURY NT 1.000% 9/15/17 /HSBC SECURITIES, INC./1,800,000 PAR VALUE AT 100.07779 %-1,800,000.0000 1.000778 - - - 1,801,400.22 (1,801,351.67) - 48.55 12/19/2016 12/19/2016 912828D98 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.000% 9/15/17 0.0000 0.000000 - - - 4,723.76 - - - 12/19/2016 12/14/2016 12/19/2016 912828T83 PURCHASED PAR VALUE OF U S TREASURY NT 0.750% 10/31/18 /NOMURA SECURITIES/FIX INCOME/1,305,000 PAR VALUE AT 99.10715019 %1,305,000.0000 0.991072 - - - (1,293,348.31) 1,293,348.31 - - 12/19/2016 12/19/2016 912828T83 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 0.750% 10/31/18 0.0000 0.000000 - - - (1,324.83) - - - 12/19/2016 912828TS9 ACCREDITED DISCOUNT ON U S TREASURY NT 0.625% 9/30/17 CURRENT YEAR OID 0.0000 0.000000 - - - - 11.43 - - 12/19/2016 912828TS9 ACCREDITED DISCOUNT ON U S TREASURY NT 0.625% 9/30/17 CURRENT YEAR ACQ. PREMIUM OID 0.0000 0.000000 - - - - (11.43) - - 12/19/2016 912828TS9 AMORTIZED PREMIUM ON U S TREASURY NT 0.625% 9/30/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (2.24) - - 50 Page 31 of 32 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2016 12/19/2016 12/15/2016 12/19/2016 912828TS9 SOLD PAR VALUE OF U S TREASURY NT 0.625% 9/30/17 /MLPFS INC/FIXED INCOME/XOTC 700,000 PAR VALUE AT 99.789063 %-700,000.0000 0.997891 - - - 698,523.44 (700,021.42) - (1,497.98) 12/19/2016 12/19/2016 912828TS9 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 0.625% 9/30/17 0.0000 0.000000 - - - 961.54 - - - 12/19/2016 12/14/2016 12/19/2016 912828U40 PURCHASED PAR VALUE OF U S TREASURY NT 1.000% 11/30/18 /CITIGROUP GLOBAL MARKETS INC./1,305,000 PAR VALUE AT 99.58663602 %1,305,000.0000 0.995866 - - - (1,299,605.60) 1,299,605.60 - - 12/19/2016 12/19/2016 912828U40 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 1.000% 11/30/18 0.0000 0.000000 - - - (681.18) - - - 12/20/2016 12/20/2016 12/20/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 5.1300 1.000000 - - - (5.13) 5.13 - - 12/20/2016 12/20/2016 12/20/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 387.1500 1.000000 - - - (387.15) 387.15 - - 12/20/2016 36159LCN4 INTEREST EARNED ON GE DEALER FLOORPLA 0.97805% 10/20/19 $1 PV ON 387.1500 SHARES DUE 12/20/2016 $0.00082/PV ON 475,000.00 PV DUE 12/20/16 0.0000 0.000000 - - - 387.15 - - - 12/20/2016 36159LCN4 AMORTIZED PREMIUM ON GE DEALER FLOORPLA 0.97805% 10/20/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (7.14) - - 12/20/2016 47788NAC2 INTEREST EARNED ON JOHN DEERE OWNER 1.250% 6/15/20 $1 PV ON 275000.0000 SHARES DUE 12/20/2016 0.0000 0.000000 - - - 286.46 - - - 12/20/2016 92867VAB6 INTEREST EARNED ON VOLKSWAGEN AUTO 0.870% 6/20/17 $1 PV ON 3517.8200 SHARES DUE 12/20/2016 0.0000 0.000000 - - - 2.55 - - - 12/21/2016 12/21/2016 12/21/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 3,517.8200 1.000000 - - - (3,517.82) 3,517.82 - - 12/21/2016 12/20/2016 12/21/2016 92867VAB6 PAID DOWN PAR VALUE OF VOLKSWAGEN AUTO 0.870% 6/20/17 -3,517.8200 489.860168 - - - 3,517.82 (3,514.36) - 3.46 12/27/2016 TRUST FEES COLLECTED CHARGED FOR PERIOD 11/01/2016 THRU 11/30/2016 COLLECTED BY DISBURSEMENT 0.0000 0.000000 - - - (526.46) - - - 12/27/2016 05582QAD9 INTEREST EARNED ON BMW VEHICLE OWNER 1.160% 11/25/20 $1 PV ON 439.8300 SHARES DUE 12/25/2016 $0.00097/PV ON 455,000.00 PV DUE 12/25/16 0.0000 0.000000 - - - 439.83 - - - 12/27/2016 3136AMTM1 INTEREST EARNED ON F N M A GTD REMIC 0.3845% 9/25/18 $1 PV ON 262.3200 SHARES DUE 12/25/2016 $0.00061/PV ON 426,604.83 PV DUE 12/25/16 0.0000 0.000000 - - - 262.32 - - - 12/27/2016 12/25/2016 12/27/2016 3136AMTM1 PAID DOWN PAR VALUE OF F N M A GTD REMIC 0.3845% 9/25/18 -2,307.0300 317.230998 - - - 2,307.03 (2,306.44) - 0.59 12/27/2016 3137BNN26 INTEREST EARNED ON F H L M C MLTCL MTG 1.780% 7/25/19 $1 PV ON 318.9200 SHARES DUE 12/25/2016 $0.00148/PV ON 215,000.00 PV DUE 12/25/16 0.0000 0.000000 - - - 318.92 - - - 12/27/2016 3137BNN26 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 1.780% 7/25/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (54.39) - - 12/27/2016 3137BPCF4 INTEREST EARNED ON F H L M C MLTCL MTG 1.376% 10/25/20 $1 PV ON 429.4200 SHARES DUE 12/25/2016 $0.00115/PV ON 374,490.02 PV DUE 12/25/16 0.0000 0.000000 - - - 429.42 - - - 12/27/2016 12/25/2016 12/27/2016 3137BPCF4 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.376% 10/25/20 -1,005.8000 1,092.869984 - - - 1,005.80 (1,005.79) 0.01 - 12/27/2016 12/27/2016 12/27/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 4,763.3200 1.000000 - - - (4,763.32) 4,763.32 - - 12/27/2016 12/27/2016 12/27/2016 31846V203 SOLD UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y -526.4600 1.000000 - - - 526.46 (526.46) - - 12/29/2016 3134G9UY1 INTEREST EARNED ON F H L M C M T N 1.000% 6/29/18 $1 PV ON 510000.0000 SHARES DUE 12/29/2016 0.0000 0.000000 - - - 2,550.00 - - - 12/29/2016 31846V203 CASH RECEIPT SHORT-TERM CAPITAL GAIN DIV FIRST AMERICAN GOVT OBLIG FUND CL Y STCP PAYABLE 12/28/16 FGVXX 0.0000 0.000000 - - - 0.01 - - - 12/29/2016 12/29/2016 12/29/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 2,550.0000 1.000000 - - - (2,550.00) 2,550.00 - - 12/30/2016 037833AG5 AMORTIZED PREMIUM ON APPLE INC 1.03152% 5/03/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (37.43) - - 12/30/2016 06406HCK3 AMORTIZED PREMIUM ON BANK OF NY MTN 1.28928% 3/06/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (33.50) - - 12/30/2016 084664CD1 AMORTIZED PREMIUM ON BERKSHIRE HATHAWAY 0.98859% 1/12/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (50.59) - - 12/30/2016 161571HC1 AMORTIZED PREMIUM ON CHASE ISSUANCE TRUST 1.370% 6/15/21 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (52.59) - - 12/30/2016 166764BA7 AMORTIZED PREMIUM ON CHEVRON CORP 1.790% 11/16/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (150.42) - - 12/30/2016 19416QDU1 ACCREDITED DISCOUNT ON COLGATE PALM MTN 2.625% 5/01/17 CURRENT YEAR OID 0.0000 0.000000 - - - - 65.98 - - 12/30/2016 19416QDU1 ACCREDITED DISCOUNT ON COLGATE PALM MTN 2.625% 5/01/17 CURRENT YEAR ACQ. PREMIUM OID 0.0000 0.000000 - - - - (65.98) - - 12/30/2016 19416QDU1 AMORTIZED PREMIUM ON COLGATE PALM MTN 2.625% 5/01/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (1,438.58) - - 12/30/2016 3137BNN26 AMORTIZED PREMIUM ON F H L M C MLTCL MTG 1.780% 7/25/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (12.69) - - 12/30/2016 12/30/2016 12/30/2016 31846V203 PURCHASED UNITS OF FIRST AMERICAN GOVT OBLIG FUND CL Y 0.0100 1.000000 - - - (0.01) 0.01 - - 12/30/2016 36159LCN4 AMORTIZED PREMIUM ON GE DEALER FLOORPLA 0.97805% 10/20/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (2.86) - - 51 Page 32 of 32 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Transaction Date Trade Date Settlement Date CUSIP Description Units Price Commissions SEC Fees Miscellaneous Fees Net Cash Amount Federal Tax Cost Amount Short Term Gain/Loss Amount Long Term Gain/Loss Amount Payden & Rygel Operating Portfolio Transaction Report Quarter ended December 31, 2016 12/30/2016 36962G3H5 AMORTIZED PREMIUM ON GEN ELEC CAP CRP MTN 5.625% 9/15/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (6,388.34) - - 12/30/2016 58933YAH8 AMORTIZED PREMIUM ON MERCK CO INC 0.9861% 5/18/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (105.62) - - 12/30/2016 594918BF0 AMORTIZED PREMIUM ON MICROSOFT CORP 1.300% 11/03/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (195.29) - - 12/30/2016 6055806F1 AMORTIZED PREMIUM ON MISSISSIPPI ST SER D 3.381% 11/01/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (307.69) - - 12/30/2016 64990E4L8 AMORTIZED PREMIUM ON NEW YORK ST DORM 3.000% 2/15/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (456.63) - - 12/30/2016 68609BVE4 AMORTIZED PREMIUM ON OREGON ST TANS SER A 2.000% 6/30/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (1,139.36) - - 12/30/2016 702282ND2 AMORTIZED PREMIUM ON PASADENA CA UNIF 1.861% 11/01/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (101.02) - - 12/30/2016 717081DP5 AMORTIZED PREMIUM ON PFIZER INC 0.967% 5/15/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (1.32) - - 12/30/2016 89236TAY1 AMORTIZED PREMIUM ON TOYOTA MOTOR MTN 2.000% 10/24/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (507.65) - - 12/30/2016 90331HMQ3 AMORTIZED PREMIUM ON US BANK NA MTN 1.350% 1/26/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (149.63) - - 12/30/2016 91159HHE3 AMORTIZED PREMIUM ON US BANCORP MTN 1.950% 11/15/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (243.50) - - 12/30/2016 912828H94 AMORTIZED PREMIUM ON U S TREASURY NT 1.000% 2/15/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (275.99) - - 12/30/2016 912828L40 AMORTIZED PREMIUM ON U S TREASURY NT 1.000% 9/15/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (152.17) - - 12/30/2016 912828M72 AMORTIZED PREMIUM ON U S TREASURY NT 0.875% 11/30/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (167.00) - - 12/30/2016 912828N22 AMORTIZED PREMIUM ON U S TREASURY NT 1.250% 12/15/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (331.83) - - 12/30/2016 912828N55 AMORTIZED PREMIUM ON U S TREASURY NT 1.000% 12/31/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (202.84) - - 12/30/2016 912828N63 AMORTIZED PREMIUM ON U S TREASURY NT 1.125% 1/15/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (452.07) - - 12/30/2016 912828P95 AMORTIZED PREMIUM ON U S TREASURY NT 1.000% 3/15/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (557.48) - - 12/30/2016 912828Q45 AMORTIZED PREMIUM ON U S TREASURY NT 0.875% 3/31/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (166.89) - - 12/30/2016 912828R85 AMORTIZED PREMIUM ON U S TREASURY NT 0.875% 6/15/19 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (34.96) - - 12/30/2016 912828TS9 ACCREDITED DISCOUNT ON U S TREASURY NT 0.625% 9/30/17 CURRENT YEAR OID 0.0000 0.000000 - - - - 8.10 - - 12/30/2016 912828TS9 ACCREDITED DISCOUNT ON U S TREASURY NT 0.625% 9/30/17 CURRENT YEAR ACQ. PREMIUM OID 0.0000 0.000000 - - - - (8.10) - - 12/30/2016 912828TS9 AMORTIZED PREMIUM ON U S TREASURY NT 0.625% 9/30/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (1.54) - - 12/30/2016 91412GPZ2 AMORTIZED PREMIUM ON UNIV OF CA 1.296% 5/15/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (84.12) - - 12/30/2016 94974BFK1 AMORTIZED PREMIUM ON WELLS FARGO MTN 1.3445% 4/23/18 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (173.87) - - 12/30/2016 94974BFW5 AMORTIZED PREMIUM ON WELLS FARGO COM MTN 1.150% 6/02/17 CURRENT YEAR AMORTIZATION 0.0000 0.000000 - - - - (21.03) - - Total - - - - 106,090.98 4,374.39 (716.81) 52 Logan Circle Partners, L.P.  25 Deforest Avenue Summit, NJ 07901  908-376-0550 SHORT DURATION FIXED INCOME Fourth Quarter 2016 Client Review Riverside County Transportation Commission 53 GDP - First-half growth will remain in the low-mid 2% range as fiscal stimulus benefits from Trump/congressional initiatives are not felt until later in the year, at the earliest. Personal consumption, which has been the primary driver of GDP growth, will get help from business fixed investment and government spending as the year progresses. Strong dollar and potential trade battles are headwinds to net exports. Taken together, expectations are for growth running closer to a 3% pace by year-end. Consumer - Most measures of consumer confidence at cycle highs, reflecting heightened optimism for fiscal policy reforms. Higher healthcare costs represent an increasing share of consumer spending and disposable income. Impact of proposed tax cuts, which will disproportionately benefit high-income earners, likely to have a limited impact on overall consumption Business - Prospect of corporate tax and regulatory reform lifts confidence and will push the trajectory of business fixed investment higher, extending the business cycle. Regulatory reform could lead to productivity gains and offset wage pressures. Credit metrics, while exhibiting late-cycle stress, have plateaued but should improve with a pickup in overall activity. Financials benefit from the steeper yield curve and higher interest rates. Small business confidence at post-recession highs. Employment - The labor market not as strong as headline unemployment indicates. Further improvement would be evidenced by a pickup in workers looking to re-enter the labor force, potentially resulting in a higher unemployment rate. Changes to the Affordable Care Act could lead to a decline in the U-6 (underemployment) rate, should the hours worked ceiling be raised. Service sector continues to account for the majority of employment gains but quality of jobs bears watching. Minimum wage increases in 20 states will keep upward trend in wages intact. Housing - Home affordability will continue to decline as mortgage rates rise and dwindling supply supports prices. National home price appreciation will remain in the low to mid-single digits with large geographic divergences. Home sales growth is constrained by a lack of inventory in low and moderately priced homes and a lack of demand for higher priced homes. Refinancing of fixed-rate loans will continue to slow while adjustable-rate mortgages may see a spike in prepayments as borrowers move to lock in a fixed rate. Inflation - Core PCE continues to edge higher as rents, healthcare insurance and medical costs escalate. Energy prices and wage growth support headline inflation, while stronger dollar acts to mitigate upward pressure. Budding protectionist / populist movements overseas and new domestic fiscal stimulus expected to have negative (higher) long-term inflation implications as free trade policies are tested. Central Banks / International - Challenging demographics, increasing populism and constrained fiscal policy keep eurozone growth in check. Recent changes to the ECB’s QE program expected to have little impact. Divergent central bank policies support U.S. dollar. Fiscal stimulus affords Fed more leeway to focus on economic data to determine pace of additional tightening. U.S.-China tensions rise as Chinese capital flight and slowing economy continue to weaken the yuan. U.S. Monetary and Fiscal Policy - Market currently pricing in two federal funds rate increases in 2017 while the Federal Reserve’s dot plot anticipates three rate hikes. Fed officials challenged to communicate policy path due to uncertainty over the timing, scope and impact of anticipated fiscal policy initiatives to spur growth, including infrastructure spending increases and reduced taxes. New administration to fill two Board of Governors seats in the new year. The views presented above are Logan Circle's and are subject to change over time. There can be no assurance that the views expressed above will prove accurate and should not be relied upon as a reliable indicator of future events. MARKET REVIEW Outlook and Current Themes 1 54 PORTFOLIO REVIEW – Construction Funds Portfolio Performance1 4Q 2016 YTD Since Inception (8/1/2013) Total Construction Fund (Gross of Fees) 0.17% 0.69% 0.51% Total Construction Fund (Net of Fees) 0.15% 0.60% 0.43% Citigroup 3-Month Treasury Bill 0.08% 0.27% 0.10% 1Past Performance is not indicative of future results. Performance returns for periods greater than one year are annualized. The performance benchmark shown for the Riverside County Construction Fund is the Citigroup 3–Month Treasury Bill, which tracks the return of one three-month Treasury bill until maturity. 2 As of September 30, 2016 Actual Portfolio Yield to Maturity 0.63% Duration 0.02 Years Average Quality (Moody’s) Aa3 Corporate 3% CP 59% Discount Notes 37% Cash 1% Asset Allocation Portfolio Characteristics As of December 31, 2016 Actual Portfolio Yield to Maturity 0.58% Duration 0.04 Years Average Quality (Moody’s) Aa2 Corporate 1% CP 99% 55 PORTFOLIO REVIEW – Equity Contribution 1Past performance is not indicative of future results. Performance returns for periods greater than one year are annualized. The performance benchmark shown for the Riverside County Equity Contribution Fund is the Bank of America Merrill Lynch 1-3 Year U.S. Treasury Index, which is a broad-based index consisting of U.S. Treasury securities with an outstanding par greater than or equal to $250 million and a maturity range from one to three years, reflecting total return. Corporate 27% Municipal 2% Agency 4% RMBS 3% CMBS 2% ABS 10% Treasury 32% CP 19% Discount Notes 1% Portfolio Performance1 4Q 2016 YTD Since Inception (7/1/2015) Equity Contribution Fund (Gross of Fees) -0.15% 1.66% 1.24% Equity Contribution Fund (Net of Fees) -0.18% 1.56% 1.14% BofA ML U.S. Treasury Index 1-3 Year -0.43% 0.89% 0.51% Asset Allocation Portfolio Characteristics 3 As of September 30, 2016 Actual Portfolio Yield to Maturity 1.11% Duration 1.36 Years Average Quality (Moody’s) Aa2 As of December 31, 2016 Actual Portfolio Yield to Maturity 1.24% Duration 1.11 Years Average Quality (Moody’s) Aa2 Corporate 37% Municipal 2% Agency 5% RMBS 5% CMBS 5% ABS 10% Treasury 30% CP 6% 56 PORTFOLIO REVIEW – Capitalized Interest Funds Portfolio Performance1 4Q 2016 YTD Since Inception (8/1/2013) Total Capitalized Interest Fund (Gross of Fees) -0.12% 1.35% 1.17% Total Capitalized Interest Fund (Net of Fees) -0.14% 1.25% 1.07% BofA ML U.S. Treasury Index 1-3 Year -0.43% 0.89% 0.69% 1Past Performance is not indicative of future results. Performance returns for periods greater than one year are annualized. The performance benchmark shown for the Riverside County Capitalized Interest Fund is the Bank of America Merrill Lynch 1-3 Year U.S. Treasury Index, which is a broad-based index consisting of U.S. Treasury securities with an outstanding par greater than or equal to $250 million and a maturity range from one to three years, reflecting total return. Asset Allocation Portfolio Characteristics 4 As of September 30, 2016 Actual Portfolio Yield to Maturity 0.91% Duration 1.22 Years Average Quality (Moody’s) Aa1 Corporate 36% Municipal 15% RMBS 5% CMBS 1% Treasury 42% CP 1% As of December 31, 2016 Actual Portfolio Yield to Maturity 1.15% Duration 1.08 Years Average Quality (Moody’s) Aa1 Corporate 37% Municipal 10% Agency 3% RMBS 4% CMBS 5% Treasury 40% CP 1% 57 PORTFOLIO REVIEW – Debt Reserve Fund Portfolio Performance1 4Q 2016 YTD Since Inception (8/1/2013) Total Debt Service Fund (Gross of Fees) -2.32% 1.84% 2.29% Total Debt Service Fund (Net of Fees) -2.34% 1.75% 2.19% BofA ML U.S. Treasury Index 3-7 Year -2.64% 1.34% 1.75% Past Performance is not indicative of future results. Performance returns for periods greater than one year are annualized. The performance benchmark shown for the Riverside County Debt Reserve Fund is the Bank of America Merrill Lynch US Treasury 3-7 Year, which is a broad-based index consisting of U.S. Treasury securities with an outstanding par greater or equal to $25 million and a maturity range from three to seven years, inclusive, reflecting total return. Asset Allocation Portfolio Characteristics 5 As of September 30, 2016 Actual Portfolio Yield to Maturity 1.47% Duration 4.26 Years Average Quality (Moody’s) Aaa Agency 12% RMBS 8% CMBS 40% Treasury 40% As of December 31, 2016 Actual Portfolio Yield to Maturity 2.24% Duration 4.42 Years Average Quality (Moody’s) Aaa Agency 15% RMBS 9% CMBS 33% Treasury 42% CP 1% 58 PORTFOLIO REVIEW Portfolio Market Value Portfolio Market Value (7/3/2013) Net Flows Market Value (12/31/2016) Change in Market Value Construction (Sales Tax) $332,687,595 ($334,894,805) - +$2,207,210 Construction (Toll Revenue) $122,120,571 ($112,949,650) $9,846,007 +$675,086 Total Construction Funds $454,808,167 ($447,844,455) $9,846,007 +$2,882,295 Portfolio Market Value (7/3/2013) Net Flows Market Value (12/31/2016) Change in Market Value Capitalized Interest (Sales Tax) $103,683,353 ($82,006,905) $24,663,950 +$2,987,502 Capitalized Interest (Toll Revenue) $31,416,498 ($24,286,898) $8,133,831 +$1,004,231 Total Capitalized Interest Funds $135,099,851 ($106,293,803) $32,797,781 +$3,991,733 Portfolio Market Value (7/3/2013) Net Flows Market Value (12/31/2016) Change in Market Value Debt Service Reserve Fund $17,667,869 ($1,398,088) $17,712,559 +$1,442,778 Portfolio Market Value (6/10/2015) Net Flows Market Value (12/31/2016) Change in Market Value Equity Contribution $32,793,399 $24,338,459 $57,915,236 +$783,378 6 59 DISCLAIMERS In general. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the “Presentation.” Logan Circle Partners, L.P., a Fortress Investment Group LLC company, is referred to herein as “Logan Circle”. No offer to purchase or sell securities. This Presentation is being provided to you at your specific request. This Presentation does not constitute an offer to sell or a solicitation of an offer to buy any security and may not be relied upon in connection with the purchase or sale of any security. Projections. Projections contained in this Presentation are based on a variety of estimates and assumptions by Logan Circle, including, among others, estimates of future operating results, the value of assets and market conditions at the time of disposition, and the timing and manner of disposition or other realization events. These estimates and assumptions are inherently uncertain and are subject to numerous business, industry, market, regulatory, competitive and financial risks that are outside of Logan Circle’s control. There can be no assurance that the assumptions made in connection with the projections will prove accurate, and actual results may differ materially, including the possibility that an investor may lose some or all of its invested capital. The inclusion of the projections herein should not be regarded as an indication that Logan Circle or any of its affiliates considers the projections to be a reliable prediction of future events and the projections should not be relied upon as such. Neither Logan Circle nor any of its affiliates or representatives has made or makes any representation to any person regarding the projections and none of them intends to update or otherwise revise the projections to reflect circumstances existing after the date when made or to reflect the occurrence of future events, if any or all of the assumptions underlying the projections are later shown to be in error. For purposes of this paragraph, the term “projections” includes “targeted returns”. Past performance. Past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision. The information presented is only available for institutional client use and is presented for use only as a one-on-one presentation. No reliance, no update and use of information. You may not rely on this Presentation as the basis upon which to make an investment decision. To the extent that you rely on this Presentation in connection with any investment decision, you do so at your own risk. This Presentation is being provided in summary fashion and does not purport to be complete. The information in the Presentation is provided to you as of the dates indicated and Logan Circle does not intend to update the information after its distribution, even in the event that the information becomes materially inaccurate. Certain information contained in this Presentation, includes performance and characteristics of Logan Circle’s strategies and any represented benchmarks, which may derive from calculations or figures that have been provided by independent third parties, or have been prepared internally and have not been audited or verified. Use of different methods for preparing, calculating or presenting information may lead to different results for the information presented, compared to publicly quoted information, and such differences may be material. Knowledge and experience. You acknowledge that you are knowledgeable and experienced with respect to the financial, tax and business aspects of this Presentation and that you will conduct your own independent financial, business, regulatory, accounting, legal and tax investigations with respect to the accuracy, completeness and suitability of this Presentation should you choose to use or rely on this Presentation, at your own risk, for any purpose. Risk of loss. An investment in the strategy will be highly speculative and there can be no assurance that the strategy’s investment objectives will be achieved. Investors must be prepared to bear the risk of a total loss of their investment. Distribution of this Presentation. Logan Circle expressly prohibits any reproduction, in hard-copy, electronic or any other form, or any redistribution to any third party of this Presentation without the prior written consent of Logan Circle. This Presentation is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use is contrary to local law or regulation. No tax, legal or accounting advice. This Presentation is not intended to provide, and should not be relied upon for (and you shall not construe it as) accounting, legal, regulatory, financial or tax advice or investment recommendations. Any statements of U.S. federal tax consequences contained in this Presentation were not intended to be used and cannot be used to avoid penalties under the U.S. Internal Revenue Code or to promote, market or recommend to another party any tax-related matters addressed herein. Confidentiality. By accepting receipt or reading any portion of this Presentation, you agree that you will treat the Presentation confidentially. This reminder should not be read to limit, in any way, the terms of any confidentiality agreement you or your organization may have in place with Logan Circle. 7 60 QUARTERLY PORTFOLIO REVIEWQUARTERLY PORTFOLIO REVIEW PAYDEN.COM LOS ANGELES | BOSTON | LONDON | PARIS 4th Quarter 2016 ATTACHMENT 15 61 January 2017 Dear Client, As we look back on the past year, we note that global financial markets repeatedly made the leap from uncertainty to certainty, each time as if they knew what would happen next. It reminds us of a quote from Sir Winston Churchill–“Fate holds terrible forfeits for those who gamble on certainties.” The outlook in January of 2016, and subsequent market movements, indicated a continuing trend toward lower interest rates and uncertainty over the actual growth of the US and other major global economies. These trends continued during the first half of this year, as global interest rates continued to fall sharply, with negative rates in Germany and Japan. In the US, the Federal Reserve Board continued to be cautious about lower inflation rates and therefore took no action on increasing the Federal Funds rate at that time. Our view was slightly different, as our assessment of the US economy in the second quarter was positive. Wage growth seemed to be on track, and we were looking for higher inflation rates in the 2% to 2½% range. These trends forecasted an increase in the Federal Funds rate in the second half of the year. The first surprise came with the Brexit vote and the subsequent assessments of what “might happen” over the near to intermediate term. The second surprise was the election of Donald Trump as the 45th President of the United States. It is difficult at this time to assess the impact of these events on the global economy, but one thing that we feel strongly about is diversification and liquidity in managing portfolios. As 2017 begins, we remain positive on US economic and wage growth and we believe this will support a continued positive trend in corporate earnings across the board. We are anticipating a modest increase in short- term interest rates in line with the positive outlook for the US economy. Our approach globally is somewhat more cautious, and the uncertainties that exist will take at least 12 to 18 months to work themselves out. Our very best wishes for health and happiness in 2017! Sincerely, Joan A. Payden President & CEO LETTER FROM THE CEO 62 Riverside County Transportation Commission 2812 ABJ VCL Portfolio Review and Market Update - 4th Quarter 2016 PORTFOLIO CHARACTERISTICS (As of 12/31/2016) $50.7 millionPortfolio Market Value AA+Weighted Average Credit Quality 1.5 yearsWeighted Average Duration 1.2%Weighted Average Yield to Maturity DURATION DISTRIBUTION 0% 5% 10% 15% 20% 25% 30% 35% 40% 0 - 1 1 - 2 2 - 3 Years SECTOR ALLOCATION 0% 10% 20% 30% 40% 50% 60%TreasuriesCreditAgenciesAsset-BackedMunicipalMortgage-BackedPORTFOLIO RETURNS - Periods Ending 12/31/2016 4th Quarter 2016 Since Inception (3/1/15) RCTC Operating Portfolio -0.22% 0.98% 0.73% BofA Merrill Lynch 1-3 Year US Treasury Index -0.43% 0.88% 0.62% Periods over one year annualized Payden & Rygel • 333 South Grand Avenue • Los Angeles, California 90071 • (213) 625-1900 • www.payden.com63 Portfolio Review and Market Update - 4th Quarter 2016 MARKET THEMES A year of surprises came to an end with the one thing everyone expected, a rate hike by the Federal Reserve. The election of Donald Trump and Republican control of both chambers of the US Congress led to increased inflation expectations amid prospects for fiscal stimulus under the new Administration. This drove interest rates and US equity prices higher. Credit-related securities posted positive excess returns as improving economic data and the prospect of lower corporate tax rates motivated investors to embrace risk despite rising interest rates. STRATEGY The portfolio holds a diversified mix of credit sectors for income generation.n Corporate bond yield premiums remain attractive, and we expect to maintain our exposure through the purchase of bonds in the new issue market. n We maintained our allocation to high-quality asset-backed and mortgage-backed securities (ABS/MBS) with short duration profiles for their yield and diversification benefits. n INTEREST RATES Treasury yields were significantly higher across all maturities with the two-year maturity rising 0.43% to end the year at 1.19%. The US Treasury curve steepened with the yield difference between one- and two-year maturities increasing to 0.38%. n The portfolio’s defensive duration positioning was beneficial to performance as interest rates moved higher.n Floating-rate credit and securitized holdings contributed to outperformance as prices moved minimally.n SECTORS The mix of fixed and floating-rate credit securities was additive to outperformance. Yield premiums between credit and government securities were unchanged. n High-quality ABS continued to add positively to performance while providing reinvestment opportunities.n The MBS allocation was additive to performance as floating-rate exposure benefited from yields resetting at higher rates. n Payden & Rygel • 333 South Grand Avenue • Los Angeles, California 90071 • (213) 625-1900 • www.payden.com64 The Year in Review Through the Eyes of the Bond Market: A Tale of Two Halves MARKET PERSPECTIVE Brexit vote US election Japan's 10-year yields fall negative for the first time Crude oil bottoms at $26/barrel, recession fears mount US Japan UK Germany Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov DecYield (%)Oil at $54/barrel, summer 2015 levels -0.5 0 0.5 1 1.5 2 2.5 3 The tale of 2016 is really a tale of two halves. The government bond markets in the US, Germany, Japan and the UK tell the story best. During the first half of the year, all four countries saw their government bond yields fall. After the price of crude oil fell to $26/ barrel in February fears of a US and global recession took over. Falling oil prices also renewed fears of falling consumer prices (deflation). Central banks in Europe and Japan enacted additional quantitative easing and negative interest rate policy to combat low inflation, but bond yields fell further. The Japanese ten-year government bond yield dropped below zero in early 2016, and the German ten-year followed Japan’s lead, moving negative during the summer. But during the summer of 2016 interest rates pivoted. The shock Brexit vote seemed to be a key, cathartic moment for the year. While uncertainty originally moved yields lower, resilience in the UK calmed investor fears. After bottoming in early July, US Treasury yields rose steadily until late November as investors began anticipating a Federal Reserve interest rate hike. Yields then moved sharply higher with the election of Donald Trump as the next US President. The rest of the world’s bond yields followed suit to varying degrees. By year-end, all bond yields had moved off their summer lows. As monetary policy diverges, the most notable change is the differential between US and German yields. The ten-year yield differential is at the widest level since the fall of the Berlin Wall. Sources: Bloomberg Ten-Year Government Bond Yields in 2016 Divergence between US, UK, European & Japanese yields reflect differences in growth and inflation trends 65 For more information about Payden & Rygel, contact us at a location listed below. LOS ANGELES 333 South Grand Avenue Los Angeles, California 90071 213 625-1900 BOSTON 265 Franklin Street Boston, Massachusetts 02110 617 807-1990 LONDON 1 Bartholmew Lane London EC2N 2AX United Kingdom + 44 (0) 20-7621-3000 PARIS Representative Office 54, 56 Avenue Hoche 75008 Paris, France + 33-607-604-441 PAYDEN.COM LOS ANGELES |BOSTON |LONDON |PARIS OVER 30 YEARS OF INSPIRING CONFIDENCE WITH AN UNWAVERING COMMITMENT TO OUR CLIENTS’ NEEDS. US DOMICILED MUTUAL FUNDS DUBLIN DOMICILED UCITS FUNDS CASH BALANCE Payden/Kravitz Cash Balance Plan Fund EQUITY Equity Income Fund GLOBAL FIXED INCOME Emerging Markets Bond Fund Emerging Markets Corporate Bond Fund Emerging Markets Local Bond Fund Global Fixed Income Fund Global Low Duration Fund TAX-EXEMPT FIXED INCOME California Municipal Income Fund US FIXED INCOME Absolute Return Bond Fund Cash Reserves Money Market Fund Core Bond Fund Corporate Bond Fund Floating Rate Fund GNMA Fund High Income Fund Limited Maturity Fund Low Duration Fund Strategic Income Fund US Government Fund EQUITY World Equity Fund FIXED INCOME Absolute Return Bond Fund Global Emerging Markets Bond Fund Global Emerging Markets Corporate Bond Fund Global Government Bond Index Fund Global High Yield Bond Fund Global Inflation-Linked Bond Fund Global Bond Fund Global Short Bond Fund Sterling Corporate Bond Fund – Investment Grade US Core Bond Fund USD Low Duration Credit Fund LIQUIDITY FUNDS Euro Liquidity Fund Sterling Reserve Fund US Dollar Liquidity Fund 66 COUNTY OF RIVERSIDE 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 . 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 Isela Licea Asst. Investment Manager The primary objective of the treas- urer shall be to safeguard the principal of the funds under the treasurer's control, meet the li- quidity needs of the depositor, and achieve a return on the funds under his or her control. Investment Objectives 2016 December “One for the Ages ” 2016 undoubtedly will go down as a standout for one of the most contentious races for the White House in our history as a nation; much political and economic uncertainty swirled around this presidential election, and, the direction the Unit- ed States and global economy will take afterwards. The Federal Reserve and interest rates were also a big story for the month. As anticipated, on December 14th the FOMC raised short-term rates by 25 bps. for only the second time in a decade and predicted a quicker pace of tightening in 2017 with three hikes projected. The federal funds rate now stands at 75 bps. As you may remember, the last time they increased was December of last year; equity markets quickly followed up with nearly a 10% drop in the DOW as well as major im- pacts to other indices and world markets. Not the same case this year as the post-election stock rally has propelled the DOW to nearly 20,000! Speaking after the meeting, Chairman Yellen said the FED was existing in a “cloud of uncertainty” as it weighs the possibility of tax and spending changes under the new Congress and administra- tion. In their discussion of economic forecasts, FED members stressed their significant uncertainty about the timing, size, and structure of any future fiscal or economic policy initia- tives as well as about how those policies would affect the economy. Members pointed out that depending on the mix of tax, spending, regulatory, and other policy changes, economic growth might turn out to be faster or slower than they cur- rently anticipated. In other words, at this juncture, it’s a crapshoot. Given the results of the U.S. presidential election, there is a potential that we will see a significant pivot toward fiscal- spending programs domestically this year, which should have positive impacts on the U.S. economy, however, it will take some time to work its way through the system. Along with anticipated tax cuts, it will be additive to the bourgeon- ing national debt in the short run. Geopolitical instability will likely continue for a period of time as some type of new world order takes shape. We expect the bond market to move along the same path as the FED hikes rates, however, not parabolic as moving the needle so to speak on an economy our size is like steering a ship the size of the Titanic (let’s leave the icebergs out of it); it takes a while to actually have an effect. How does the most recent rise in interest rates (particularly market rates) affect the TPIF? It is important to mention to our readers about the difference between realized vs. un- realized gains or losses. On the bottom of this report, you will see two columns labeled “Paper Gain or Loss,” expressed in dollars, and, as a percentage of the total. In the world of fixed income, there is an inverse relationship that exists in that when interest rates decline, there is a gain in the underly- ing value of the securities; the reverse is also true with rising rates and a loss in underlying value. We have not seen a negative number in a long while and expect that to continue in a rising rate environment. The difference between having to realize a loss vs. not having to, is a function of understanding the cash flows of the County Treasury and having ample liquidity on hand to meet the needs of our depositors. Our Capital Markets team utiliz- es a twelve-month historical cash flow model and makes adjustments throughout the year to revenues and disburse- ments if they come in higher or lower than expected. Our major cash outflows are pre-funded months in advance to negate the need to ever sell a security before maturity, espe- cially under adverse market conditions. We have taken the appropriate steps to immunize our portfolio from this and other economic hazards and to be observant of volatile eco- nomic conditions. Moreover, we will continue to adhere to our investment objectives of safety, liquidity and return. Lastly, we would like to note the passing this month of the 4th District County Supervisor, John Benoit. At 64 years old, he was claimed way too young by pancreatic cancer. Super- visor Benoit had a long, successful and storied career in pub- lic service to Californians in law enforcement, as a school board member, State Assemblyman, State Senator and Coun- ty Supervisor. I enjoyed a good working relationship with him in matters pertaining to this office and to the County as a whole. Our condolences go out to his family, friends and staff. Rest in peace John, you will be missed. Don Kent Treasurer-Tax Collector ATTACHMENT 16 67 Current Market Data Economic Indicators Stock Indices Commodities Fed Funds Target Rate COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 2 US Treasury Curve (M/M) FOMC Meeting Schedule 68 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 Treas- urer’s Office, prime money market funds invest in a diversified portfolio of U.S. dollar denominated money market instruments in- cluding U.S. Treasuries, government agencies, commercial paper, certificates of deposits, repurchase agreements, etc. TIMMI is cur- rently comprised of the four multi billion dollar funds listed below. TIMMI COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 3 Cash Flows 69 Asset Allocation COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 4 70 Maturity Distribution COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 5 71 Credit Quality MOODY’S S & P COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 6 72 Description Maturity Date Coupon Par Value Book Value Market Price Market Value Unrealized Gain/Loss FIDELITY GOV 01/01/2017 .392 225,000,000.00 225,000,000.00 100.000000 225,000,000.00 0.00 WELLS FARGO GOV 01/01/2017 .379 250,000,000.00 250,000,000.00 100.000000 250,000,000.00 0.00 FEDERATED GOV 01/01/2017 .377 250,000,000.00 250,000,000.00 100.000000 250,000,000.00 0.00 BANK OF THE WEST 01/01/2017 .620 200,000,000.00 200,000,000.00 100.000000 200,000,000.00 0.00 GOLDMAN SACHS GOV 01/01/2017 .405 250,000,000.00 250,000,000.00 100.000000 250,000,000.00 0.00 .428 1,175,000,000.00 1,175,000,000.00 100.000000 1,175,000,000.00 0.00 CALTRUST SHT TERM 01/01/2017 .909 54,000,000.00 54,000,000.00 100.000000 54,000,000.00 0.00 .909 54,000,000.00 54,000,000.00 100.000000 54,000,000.00 0.00 UB MANAGED RATE 01/01/2017 .620 175,000,000.00 175,000,000.00 100.000000 175,000,000.00 0.00 .620 175,000,000.00 175,000,000.00 100.000000 175,000,000.00 0.00 US DIST COURTHOUSE 06/15/2020 1.273 265,000.00 265,000.00 100.000000 265,000.00 0.00 1.273 265,000.00 265,000.00 100.000000 265,000.00 0.00 U.S. TREASURY BILL 05/25/2017 .510 50,000,000.00 49,761,291.67 99.761655 49,880,827.59 119,535.92 U.S. TREASURY BILL 05/25/2017 .440 50,000,000.00 49,828,277.78 99.761655 49,880,827.59 52,549.81 U.S. TREASURY BILL 02/09/2017 .425 25,000,000.00 24,954,843.75 99.955150 24,988,787.50 33,943.75 U.S. TREASURY BILL 02/02/2017 .405 25,000,000.00 24,958,937.50 99.966061 24,991,515.15 32,577.65 U.S. TREASURY BILL 05/25/2017 .428 50,000,000.00 49,859,116.67 99.761655 49,880,827.59 21,710.92 U.S. TREASURY BILL 03/09/2017 .405 50,000,000.00 49,912,250.00 99.914279 49,957,139.71 44,889.71 U.S. TREASURY BILL 05/04/2017 .510 25,000,000.00 24,937,027.08 99.803597 24,950,899.19 13,872.11 U.S. TREASURY BILL 05/11/2017 .550 25,000,000.00 24,932,631.94 99.789618 24,947,404.58 14,772.64 U.S. TREASURY BILL 05/25/2017 .600 25,000,000.00 24,925,833.33 99.761655 24,940,413.79 14,580.46 U.S. TREASURY BILL 06/08/2017 .620 25,000,000.00 24,922,839.58 99.732692 24,933,172.96 10,333.38 U.S. TREASURY BILL 06/29/2017 .600 50,000,000.00 49,848,915.28 99.700672 49,850,336.11 1,420.83 U.S. TREASURY BILL 01/26/2017 .390 50,000,000.00 49,985,337.50 99.974038 49,987,019.23 1,681.73 .481 450,000,000.00 448,827,302.08 99.819816 449,189,170.99 361,868.91 U.S. TREASURY BOND 06/30/2017 .750 5,000,000.00 4,971,875.00 100.051000 5,002,550.00 30,675.00 U.S. TREASURY BOND 05/15/2017 .875 25,000,000.00 25,077,148.44 100.102000 25,025,500.00 -51,648.44 U.S. TREASURY BOND 01/31/2017 .875 25,000,000.00 25,129,882.81 100.040000 25,010,000.00 -119,882.81 U.S. TREASURY BOND 02/15/2017 .625 20,000,000.00 20,008,593.75 100.024000 20,004,800.00 -3,793.75 U.S. TREASURY BOND 01/15/2017 .750 25,000,000.00 25,095,703.13 100.014000 25,003,500.00 -92,203.13 U.S. TREASURY BOND 09/30/2017 .625 10,000,000.00 9,981,250.00 99.859000 9,985,900.00 4,650.00 U.S. TREASURY BOND 02/15/2018 1.000 10,000,000.00 10,017,968.75 100.035000 10,003,500.00 -14,468.75 U.S. TREASURY BOND 01/31/2018 .875 25,000,000.00 24,936,523.44 99.926000 24,981,500.00 44,976.56 U.S. TREASURY BOND 01/15/2017 .750 25,000,000.00 25,027,343.75 100.014000 25,003,500.00 -23,843.75 U.S. TREASURY BOND 02/15/2017 .625 25,000,000.00 24,978,515.63 100.024000 25,006,000.00 27,484.37 U.S. TREASURY BOND 02/15/2017 .625 25,000,000.00 24,964,843.75 100.024000 25,006,000.00 41,156.25 U.S. TREASURY BOND 05/31/2019 1.500 25,000,000.00 25,110,351.56 100.461000 25,115,250.00 4,898.44 U.S. TREASURY BOND 10/31/2019 1.500 25,000,000.00 25,028,320.31 100.242000 25,060,500.00 32,179.69 U.S. TREASURY BOND 02/15/2017 .625 10,000,000.00 10,003,125.00 100.024000 10,002,400.00 -725.00 U.S. TREASURY BOND 11/15/2017 .875 25,000,000.00 25,006,835.94 100.004000 25,001,000.00 -5,835.94 U.S. TREASURY BOND 11/15/2017 .875 25,000,000.00 25,004,882.81 100.004000 25,001,000.00 -3,882.81 U.S. TREASURY BOND 11/30/2018 1.000 25,000,000.00 24,943,359.38 99.680000 24,920,000.00 -23,359.38 U.S. TREASURY BOND 11/30/2017 .875 20,000,000.00 20,004,687.50 100.008000 20,001,600.00 -3,087.50 U.S. TREASURY BOND 11/30/2017 .625 25,000,000.00 24,940,429.69 99.766000 24,941,500.00 1,070.31 U.S. TREASURY BOND 11/30/2017 .625 25,000,000.00 24,929,687.50 99.766000 24,941,500.00 11,812.50 U.S. TREASURY BOND 09/30/2017 .625 25,000,000.00 24,968,750.00 99.859000 24,964,750.00 -4,000.00 .847 450,000,000.00 450,130,078.14 99.996056 449,982,250.00 -147,828.14 FHLMC DISC NOTE 02/17/2017 .480 25,000,000.00 24,920,000.00 99.938000 24,984,500.00 64,500.00 FHLMC DISC NOTE 05/19/2017 .480 50,000,000.00 49,848,666.67 99.792000 49,896,000.00 47,333.33 FHLMC DISC NOTE 05/15/2017 .490 50,000,000.00 49,859,805.56 99.798000 49,899,000.00 39,194.44 FHLMC DISC NOTE 03/21/2017 .420 25,000,000.00 24,959,166.67 99.889000 24,972,250.00 13,083.33 FHLMC DISC NOTE 03/21/2017 .420 25,000,000.00 24,959,166.67 99.889000 24,972,250.00 13,083.33 FHLMC DISC NOTE 05/18/2017 .520 25,000,000.00 24,930,260.42 99.794000 24,948,500.00 18,239.58 .473 200,000,000.00 199,477,065.99 99.836250 199,672,500.00 195,434.01 FHLMC 3YrNc1.5YrE 06/22/2018 1.200 15,000,000.00 14,986,800.00 99.784000 14,967,600.00 -19,200.00 FHLMC 3YrNc6MoE 06/22/2018 1.250 25,000,000.00 24,993,750.00 99.978000 24,994,500.00 750.00 FHLMC 1.5Yr 01/27/2017 .500 25,000,000.00 24,973,250.00 99.999000 24,999,750.00 26,500.00 FHLMC 1.5Yr 01/27/2017 .500 15,000,000.00 14,980,119.90 99.999000 14,999,850.00 19,730.10 FHLMC 2YrNc6MoB 10/27/2017 .750 10,000,000.00 10,000,000.00 99.850000 9,985,000.00 -15,000.00 FHLMC 1.25Yr 01/27/2017 .500 25,000,000.00 25,015,000.00 99.999000 24,999,750.00 -15,250.00 FHLMC 3YrNc6MoB 10/29/2018 1.050 5,000,000.00 5,000,000.00 99.568000 4,978,400.00 -21,600.00 FHLMC 3YrNc6MoB 10/29/2018 1.050 10,000,000.00 10,000,000.00 99.568000 9,956,800.00 -43,200.00 FHLMC 2YrNc6MoE 11/16/2017 .750 15,000,000.00 15,000,000.00 99.919000 14,987,850.00 -12,150.00 FHLMC 5YrNc6MoB 10/29/2020 1.125 15,000,000.00 15,000,000.00 99.345000 14,901,750.00 -98,250.00 FHLMC 2Yr 12/15/2017 1.000 20,000,000.00 19,979,400.00 100.076000 20,015,200.00 35,800.00 FHLMC 13MoNc6MoE 03/09/2017 .750 10,000,000.00 10,000,000.00 100.046000 10,004,600.00 4,600.00 FHLMC 13MoNc6MoE 03/09/2017 .750 10,000,000.00 10,000,000.00 100.046000 10,004,600.00 4,600.00 FHLMC 1.5YrNc3Mob 08/25/2017 .800 5,000,000.00 5,000,000.00 99.933000 4,996,650.00 -3,350.00 FHLMC 5YrNc6MoB 02/26/2021 1.250 10,000,000.00 10,000,000.00 99.313000 9,931,300.00 -68,700.00 FHLMC 5YrNc6MoB 02/26/2021 1.250 10,000,000.00 10,000,000.00 98.974000 9,897,400.00 -102,600.00 FHLMC 2.5YrNc1YrE 08/24/2018 1.000 5,000,000.00 5,000,000.00 99.469000 4,973,450.00 -26,550.00 FHLMC 3YrNc1YrE 03/29/2019 1.300 9,000,000.00 9,000,000.00 99.919000 8,992,710.00 -7,290.00 FHLMC 3YrNc1YrE 03/29/2019 1.270 4,000,000.00 4,000,000.00 99.585000 3,983,400.00 -16,600.00 FHLMC 3.5YrNc6MoE 10/11/2019 1.500 15,000,000.00 15,000,000.00 99.453000 14,917,950.00 -82,050.00 FHLMC 2.25YrNc6MoB 06/29/2018 1.125 5,850,000.00 5,850,000.00 99.640000 5,828,940.00 -21,060.00 FHLMC 1.5YrNc6MoB 10/13/2017 .850 15,000,000.00 15,000,000.00 99.994000 14,999,100.00 -900.00 FHLMC 1.5YrNc6MoB 10/13/2017 .850 10,000,000.00 10,000,000.00 99.994000 9,999,400.00 -600.00 FHLMC 1.5YrNc3MoB 10/27/2017 .825 25,000,000.00 25,000,000.00 99.974000 24,993,500.00 -6,500.00 FHLMC 5YrNc3MoB 06/09/2021 1.600 15,000,000.00 15,000,000.00 98.142000 14,721,300.00 -278,700.00 FHLMC 5YrNc3MoB 05/25/2021 1.500 20,000,000.00 20,000,000.00 97.996000 19,599,200.00 -400,800.00 FHLMC 5YrNc3MoB 06/16/2021 1.500 15,000,000.00 14,997,000.00 98.796000 14,819,400.00 -177,600.00 FHLMC 3YrNc3MoB 06/20/2019 1.000 15,000,000.00 15,000,000.00 99.635000 14,945,250.00 -54,750.00 FHLMC 5YrNc3MoB 06/30/2021 1.500 15,000,000.00 15,000,000.00 98.092000 14,713,800.00 -286,200.00 FHLMC 5YrNc6MoB 06/30/2021 1.300 15,000,000.00 15,000,000.00 98.099000 14,714,850.00 -285,150.00 FHLMC 5YrNc3MoB 06/30/2021 1.500 10,000,000.00 10,000,000.00 98.035000 9,803,500.00 -196,500.00 FHLMC 3.5YrNc3MoB 12/30/2019 1.000 15,000,000.00 15,000,000.00 99.429000 14,914,350.00 -85,650.00 FHLMC 5YrNc6MoB 07/13/2021 1.250 15,000,000.00 15,000,000.00 98.742000 14,811,300.00 -188,700.00 FHLMC 2YrNc6MoE 07/20/2018 .820 10,000,000.00 10,000,000.00 99.231000 9,923,100.00 -76,900.00 FHLMC 1.25YrNc3MoB 10/27/2017 .700 10,000,000.00 10,000,000.00 99.847000 9,984,700.00 -15,300.00 FHLMC 3YrNc3MoB 07/26/2019 1.250 10,000,000.00 10,000,000.00 99.366000 9,936,600.00 -63,400.00 313397BZ3 313397FU0 FHLMC BONDS 912796LD9 912796LF4 US TREAS BONDS 912828G20 912828U40 MMKT CUSIP Month End Portfolio Holdings Fund: 1 POOL FUND Yield To Maturity Modified Duration Years To Maturity FRGXX .392 .003 .003 WFFXX .379 .003 .003 GOFXX .377 .003 .003 CASH .620 .003 .003 FGTXX .405 .003 .003 .428 .003 .003 CLTR .909 .003 .003 CALTRUST FND .003 .003 .909 .003 .003 DDA/PASSBK CASH LOCAL AGCY OBLIG .620 .003 .003 .620 1.273 1.739 3.458LAO 1.273 1.739 3.458 US TREAS BILLS .512 .395 .397 912796JT7 .442 .395 .397 912796JT7 .426 .109 .110 .406 .090 .090 912796KG3 912796JA8 912796JT7 .429 .395 .397 912796KU2 912796KM0 .406 .185 .186 .502 .338 .340 .546 .357 .359 912796JT7 .602 .395 .397 .612 .433 .436 .603 .490 .493 912796KE8 .391 .071 .071 .481 .310 .312 912828TB6 .932 .493 .496 .752 .368 .370 912828SC5 .641 .085 .085 .596 .126 .126 912828A91 .433 .041 .041 .723 .746 .748 912828H94 .920 1.110 1.126 .990 1.071 1.085 .655 .041 .041 .695 .126 .126 912828B74 .742 .125 .126 1.370 2.364 2.414912828WL0 1.470 2.758 2.833 912828G20 .594 .126 .126 912828F62 .846 .866 .874 .855 .866 .874 1.115 1.891 1.915 .851 .911 .915912828M72 .868 .911 .915 912828UA6 .919 .911 .915 912828UA6 912828TS9 .792 .745 .748 .855 .828 .839 FHLMC DISC NOTES .482 .131 .132 .481 .379 .381 313397FQ9 .491 .368 .370 313397DH1 .421 .218 .219 313397DH1 .421 .218 .219 313397FT3 .516 .376 .378 .473 .305 .306 3134G7AE1 1.230 1.457 1.474 3134G66M0 1.259 1.457 1.474 3137EADU0 .570 .074 .074 3137EADU0 .592 .074 .074 3134G7V24 .750 .817 .822 3137EADU0 .453 .074 .074 3134G72T7 1.050 1.803 1.827 3134G72T7 1.050 1.803 1.827 3134G73L3 .750 .870 .877 3134G7S77 1.125 3.729 3.830 3137EADX4 1.052 .948 .956 3134G8LG2 .750 .185 .186 3134G8LG2 .750 .185 .186 3134G8L49 .800 .645 .649 3134G8KU2 1.250 4.017 4.159 3134G8L31 1.250 4.017 4.159 3134G8L64 1.000 1.624 1.647 3134G8QE2 1.300 2.198 2.241 3134G8QB8 1.270 2.199 2.241 3134G8TG4 1.500 2.702 2.778 3134G8V97 1.125 1.478 1.493 3134G8WC9 .850 .778 .784 3134G8WC9 .850 .778 .784 3134G8YS2 .825 .817 .822 3134G9JX6 1.600 4.265 4.441 3134G9JW8 1.500 4.237 4.400 3134G9NU7 1.504 4.294 4.460 3134G9PC5 1.000 2.433 2.468 3134G9UM7 1.500 4.336 4.499 3134G9VA2 1.300 4.357 4.499 3134G9UX3 1.500 4.336 4.499 3134G9UH8 1.000 2.948 2.997 3134G9XA0 1.250 4.369 4.534 3134G9C70 .820 1.534 1.551 3134G9M38 .700 .818 .822 3134G9Q75 1.250 2.508 2.567 912796KY4 912828A91 912828B74 912828B74 912828UJ7 912828TS9 912828B74 912828WH9 COUNTY OF RIVERISIDE TREASURER-TAX COLLECTOR 773 Description Maturity Date Coupon Par Value Book Value Market Price Market Value Unrealized Gain/Loss CUSIP Month End Portfolio Holdings Yield To Maturity Modified Duration Years To Maturity FHLMC 2YrNc3MoB 07/27/2018 1.050 10,000,000.00 10,000,000.00 99.623000 9,962,300.00 -37,700.00 FHLMC 4YrNc6MoB 07/27/2020 1.150 15,000,000.00 15,000,000.00 98.108000 14,716,200.00 -283,800.00 FHLMC 5YrNc3MoB 08/10/2021 1.250 15,000,000.00 15,000,000.00 97.916000 14,687,400.00 -312,600.00 FHLMC 4YrNc6MoB 08/10/2020 1.150 15,000,000.00 15,000,000.00 97.983000 14,697,450.00 -302,550.00 FHLMC 5YrNc3MoB 08/10/2021 1.250 10,000,000.00 10,000,000.00 97.963000 9,796,300.00 -203,700.00 FHLMC 5YrNc3MoB 08/25/2021 1.500 15,000,000.00 15,000,000.00 98.428000 14,764,200.00 -235,800.00 FHLMC 5YrNc3MoB 08/25/2021 1.500 10,000,000.00 10,000,000.00 97.427000 9,742,700.00 -257,300.00 FHLMC 5YrNc3MoB 08/25/2021 1.375 15,000,000.00 15,000,000.00 97.725000 14,658,750.00 -341,250.00 FHLMC 3.5YrNc1YrE 02/25/2020 1.250 10,000,000.00 10,000,000.00 98.312000 9,831,200.00 -168,800.00 FHLMC 4.25YrNc3MoB 12/08/2020 1.250 20,000,000.00 20,000,000.00 97.925000 19,585,000.00 -415,000.00 FHLMC 5YrNc6MoB 08/24/2021 1.250 20,000,000.00 20,000,000.00 98.221000 19,644,200.00 -355,800.00 FHLMC 5YrNc3MoB 09/13/2021 1.500 16,500,000.00 16,500,000.00 98.307000 16,220,655.00 -279,345.00 FHLMC 5YrNc3MoB 09/30/2021 1.500 20,000,000.00 20,000,000.00 98.806000 19,761,200.00 -238,800.00 FHLMC 5YrNc6MoB 09/30/2021 1.450 15,000,000.00 15,000,000.00 97.929000 14,689,350.00 -310,650.00 FHLMC 5YrNc6MoB 09/30/2021 1.350 15,000,000.00 15,000,000.00 97.655000 14,648,250.00 -351,750.00 FHLMC 5YrNc3MoB 10/25/2021 1.375 10,000,000.00 10,000,000.00 97.567000 9,756,700.00 -243,300.00 FHLMC 5YrNc3MoB 10/25/2021 1.375 6,705,000.00 6,705,000.00 97.567000 6,541,867.35 -163,132.65 FHLMC 5YrNc3MoB 10/27/2020 1.250 10,000,000.00 10,000,000.00 98.408000 9,840,800.00 -159,200.00 FHLMC 5YrNc6MoB 10/27/2021 1.400 15,000,000.00 15,000,000.00 97.170000 14,575,500.00 -424,500.00 FHLMC 5YrNc6MoB 10/27/2021 1.400 15,000,000.00 15,000,000.00 97.170000 14,575,500.00 -424,500.00 FHLMC 1.5YrNc6MoB 12/28/2017 .800 25,000,000.00 24,997,500.00 99.845000 24,961,250.00 -36,250.00 FHLMC 1.5YrNc6MoB 12/28/2017 .800 14,595,000.00 14,592,081.00 99.845000 14,572,377.75 -19,703.25 FHLMC 5YrNc6MoB 10/28/2021 1.250 10,000,000.00 10,000,000.00 98.946000 9,894,600.00 -105,400.00 FHLMC 5YrNc3MoB 10/27/2021 1.500 15,000,000.00 15,000,000.00 97.513000 14,626,950.00 -373,050.00 FHLMC 5YrNc3MoB 10/27/2021 1.500 15,000,000.00 15,000,000.00 97.513000 14,626,950.00 -373,050.00 FHLMC 5YrNc3MoB 10/27/2021 1.400 10,000,000.00 10,000,000.00 97.272000 9,727,200.00 -272,800.00 FHLMC 5YrNc3MoB 11/10/2021 1.550 17,000,000.00 17,000,000.00 97.741000 16,615,970.00 -384,030.00 FHLMC 5YrNc3MoB 10/27/2021 1.400 14,000,000.00 14,000,000.00 97.272000 13,618,080.00 -381,920.00 FHLMC 5YrNc3MoB 11/30/2021 1.500 4,500,000.00 4,500,000.00 98.222000 4,419,990.00 -80,010.00 FHLMC 3.5YrNc1YrE 05/08/2020 1.200 15,000,000.00 15,000,000.00 98.230000 14,734,500.00 -265,500.00 FHLMC 4YrNc6moE 11/25/2020 1.370 25,000,000.00 25,000,000.00 98.421000 24,605,250.00 -394,750.00 FHLMC 4YrNc1YrE 11/30/2020 1.440 10,000,000.00 10,000,000.00 98.606000 9,860,600.00 -139,400.00 FHLMC 5YrNc3MoB 11/26/2021 1.550 20,000,000.00 20,000,000.00 97.692000 19,538,400.00 -461,600.00 FHLMC 5YrNc3MoB 12/09/2021 1.500 10,000,000.00 10,000,000.00 98.878000 9,887,800.00 -112,200.00 FHLMC 5YrNc3MoB 12/09/2021 1.650 20,000,000.00 20,000,000.00 99.575000 19,915,000.00 -85,000.00 FHLMC 5YrNc3MoB 12/14/2021 1.850 20,000,000.00 20,000,000.00 99.523000 19,904,600.00 -95,400.00 FHLMC 5YrNc3MoB 12/16/2021 1.750 10,000,000.00 10,000,000.00 99.501000 9,950,100.00 -49,900.00 FHLMC 5YrNc3MoB 12/30/2021 1.900 10,000,000.00 10,000,000.00 99.762000 9,976,200.00 -23,800.00 FHLMC 5YrNc3MoB 12/30/2021 1.900 10,000,000.00 10,000,000.00 99.762000 9,976,200.00 -23,800.00 FHLMC 7Mo 07/28/2017 1.000 25,000,000.00 25,046,750.00 100.155000 25,038,750.00 -8,000.00 1.220 1,057,150,000.00 1,057,116,650.90 98.883138 1,045,343,090.10 -11,773,560.80 FNMA DISC NOTE 01/17/2017 .530 15,000,000.00 14,946,558.33 99.985000 14,997,750.00 51,191.67 FNMA DISC NOTE 05/12/2017 .550 25,000,000.00 24,876,250.00 99.803000 24,950,750.00 74,500.00 .543 40,000,000.00 39,822,808.33 99.871250 39,948,500.00 125,691.67 FNMA 5YrNc6MoB 02/26/2021 1.125 15,000,000.00 15,000,000.00 99.453000 14,917,950.00 -82,050.00 FNMA 4YrNC6MoB 03/09/2020 1.000 10,000,000.00 10,000,000.00 99.791000 9,979,100.00 -20,900.00 FNMA 4YrNc6MoB 03/09/2020 1.300 15,000,000.00 15,000,000.00 99.443000 14,916,450.00 -83,550.00 FNMA 4YrNc6MoB 03/30/2020 1.250 10,000,000.00 10,000,000.00 99.713000 9,971,300.00 -28,700.00 FNMA 3YrNc6MoB 03/29/2019 1.000 20,000,000.00 20,000,000.00 99.955000 19,991,000.00 -9,000.00 FNMA 5YrNc6MoB 03/30/2021 1.375 15,000,000.00 15,000,000.00 98.238000 14,735,700.00 -264,300.00 FNMA 5YrNc6MoB 06/09/2021 1.550 15,000,000.00 15,000,000.00 98.482000 14,772,300.00 -227,700.00 FNMA 3.5YrNc6MoB 12/16/2019 1.500 5,000,000.00 5,000,000.00 99.028000 4,951,400.00 -48,600.00 FNMA 4.25YrNc6MoB 09/09/2020 1.400 15,000,000.00 15,000,000.00 98.154000 14,723,100.00 -276,900.00 FNMA 4YrNc6MoB 06/30/2020 1.150 20,000,000.00 20,000,000.00 98.323000 19,664,600.00 -335,400.00 FNMA 4YrNc6MoE 07/13/2020 1.350 10,000,000.00 10,000,000.00 97.411000 9,741,100.00 -258,900.00 FNMA 2YrNc6MoE 07/20/2018 1.000 25,000,000.00 25,000,000.00 99.230000 24,807,500.00 -192,500.00 FNMA 3.25YrNc6MoB 09/30/2019 1.250 7,500,000.00 7,500,000.00 98.910000 7,418,250.00 -81,750.00 FNMA 2YrNc6MoE 07/27/2018 .800 15,000,000.00 15,000,000.00 99.238000 14,885,700.00 -114,300.00 FNMA 5YrNc6MoB 07/27/2021 1.250 15,000,000.00 15,000,000.00 97.191000 14,578,650.00 -421,350.00 FNMA 3YrNc6MoE 07/26/2019 1.000 10,000,000.00 10,000,000.00 98.330000 9,833,000.00 -167,000.00 FNMA 3YrNc6MoE 07/26/2019 1.000 10,000,000.00 10,000,000.00 98.330000 9,833,000.00 -167,000.00 FNMA 2.5YrNc6MoE 01/25/2019 .875 7,500,000.00 7,495,350.00 98.832000 7,412,400.00 -82,950.00 FNMA 5YrNc6MoB 07/27/2021 1.250 20,000,000.00 20,000,000.00 97.590000 19,518,000.00 -482,000.00 FNMA 3YrNc1YrE 07/26/2019 1.050 15,000,000.00 15,000,000.00 98.531000 14,779,650.00 -220,350.00 FNMA 3.5YrNc1YrE 07/26/2019 1.125 25,000,000.00 25,000,000.00 98.824000 24,706,000.00 -294,000.00 FNMA 4YrNc6MoB 11/24/2020 1.125 15,000,000.00 15,000,000.00 97.565000 14,634,750.00 -365,250.00 FNMA 3Yr 10/24/2019 1.000 10,000,000.00 9,973,200.00 98.618000 9,861,800.00 -111,400.00 FNMA 3YrNc6MoB 11/25/2019 1.400 10,000,000.00 10,000,000.00 99.427000 9,942,700.00 -57,300.00 1.162 335,000,000.00 334,968,550.00 98.679224 330,575,400.00 -4,393,150.00 FHLB DISC NOTE 01/05/2017 .600 7,000,000.00 6,964,066.67 99.994889 6,999,642.22 35,575.55 FHLB DISC NOTE 02/03/2017 .570 5,000,000.00 4,976,487.50 99.957833 4,997,891.67 21,404.17 FHLB DISC NOTE 01/05/2017 .530 5,000,000.00 4,980,272.22 99.994889 4,999,744.44 19,472.22 FHLB DISC NOTE 02/17/2017 .560 25,000,000.00 24,882,555.56 99.939944 24,984,986.11 102,430.55 FHLB DISC NOTE 02/15/2017 .540 25,000,000.00 24,889,750.00 99.942500 24,985,625.00 95,875.00 FHLB DISC NOTE 02/21/2017 .570 35,000,000.00 34,833,750.00 99.934833 34,977,191.67 143,441.67 FHLB DISC NOTE 02/21/2017 .570 25,000,000.00 24,883,625.00 99.934833 24,983,708.33 100,083.33 FHLB DISC NOTE 02/01/2017 .520 25,000,000.00 24,919,833.33 99.960389 24,990,097.22 70,263.89 FHLB DISC NOTE 06/29/2017 .550 25,000,000.00 24,860,972.22 99.716583 24,929,145.83 68,173.61 FHLB DISC NOTE 06/15/2017 .550 25,000,000.00 24,868,611.11 99.738750 24,934,687.50 66,076.39 FHLB DISC NOTE 01/12/2017 .420 25,000,000.00 24,944,875.00 99.985944 24,996,486.11 51,611.11 FHLB DISC NOTE 01/11/2017 .440 25,000,000.00 24,944,388.89 99.987222 24,996,805.56 52,416.67 FHLB DISC NOTE 05/15/2017 .550 25,000,000.00 24,928,958.33 99.795278 24,948,819.44 19,861.11 FHLB DISC NOTE 05/12/2017 .590 25,000,000.00 24,926,659.72 99.799861 24,949,965.28 23,305.56 FHLB DISC NOTE 11/14/2017 .810 10,000,000.00 9,919,111.11 99.396000 9,939,600.00 20,488.89 FHLB DISC NOTE 06/28/2017 .630 50,000,000.00 49,814,500.00 99.718167 49,859,083.33 44,583.33 FHLB DISC NOTE 05/31/2017 .629 50,000,000.00 49,841,002.78 99.762500 49,881,250.00 40,247.22 FHLB DISC NOTE 06/07/2017 .620 25,000,000.00 24,921,006.94 99.751417 24,937,854.17 16,847.23 FHLB DISC NOTE 06/14/2017 .670 50,000,000.00 49,830,638.89 99.740333 49,870,166.67 39,527.78 FHLB DISC NOTE 06/14/2017 .670 6,000,000.00 5,979,676.67 99.740333 5,984,420.00 4,743.33 FHLB DISC NOTE 06/16/2017 .660 6,000,000.00 5,979,980.00 99.737167 5,984,230.00 4,250.00 FHLB DISC NOTE 06/16/2017 .660 7,000,000.00 6,976,643.33 99.737167 6,981,601.67 4,958.34 FHLB DISC NOTE 06/16/2017 .660 7,000,000.00 6,976,643.33 99.737167 6,981,601.67 4,958.34 FHLB DISC NOTE 08/14/2017 .800 50,000,000.00 49,735,555.56 99.625000 49,812,500.00 76,944.44 FHLB DISC NOTE 06/21/2017 .660 2,000,000.00 1,993,326.67 99.729250 1,994,585.00 1,258.33 FHLB DISC NOTE 06/21/2017 .660 1,000,000.00 996,663.33 99.729250 997,292.50 629.17 FHLB DISC NOTE 06/21/2017 .660 1,000,000.00 996,663.33 99.729250 997,292.50 629.17 FHLB DISC NOTE 06/21/2017 .660 1,000,000.00 996,663.33 99.729250 997,292.50 629.17 313385HM1 3134GATA2 3134GAUA0 3134G9Q67 1.050 1.548 1.570 3134G9S40 1.150 3.473 3.573 3134G9R66 1.250 4.443 4.611 3134G9S57 1.150 3.509 3.611 3134G9T23 1.250 4.443 4.611 3134G9U47 1.500 4.452 4.652 3134G95W3 1.500 4.452 4.652 3134G96A0 1.375 4.468 4.652 1.250 3.066 3.153 3134GAEB6 1.250 3.826 3.940 1.250 4.482 4.649 3134GADP6 1.500 4.502 4.704 1.500 4.552 4.751 3134GAKY9 1.450 4.558 4.751 1.350 4.571 4.751 1.375 4.634 4.819 1.375 4.634 4.819 1.250 3.713 3.825 3134GAQV9 1.400 4.636 4.825 3134GAPA6 3134GAQV9 1.400 4.636 4.825 .808 .986 .992 3134G9WU7 .817 .986 .992 3134GARL0 1.250 4.658 4.827 1.500 4.623 4.825 1.500 4.623 4.825 3134GASF2 3134GASF2 3134GATA2 1.400 4.636 4.825 3134GATB0 1.550 4.653 4.863 1.400 4.636 4.825 1.500 4.717 4.918 3134GAVF8 1.200 3.271 3.353 3134GAXZ2 1.370 3.780 3.904 1.440 3.791 3.9183134GAYK4 1.550 4.698 4.907 3134GAYG3 1.500 4.739 4.942 3134GAYF5 3134GAYR9 1.650 4.720 4.942 3134GAZP2 1.850 4.708 4.956 3134GAA53 1.750 4.726 4.962 3134GAA87 1.900 4.748 5.000 3134GAA87 1.900 4.748 5.000 3137EADJ5 .710 .570 .573 1.215 3.059 3.169 FNMA DISC NOTES .532 .046 .047 313589FM0 .553 .359 .362 .545 .241 .244 FNMA BONDS 1.125 4.031 4.159 3136G2ZB6 1.000 3.121 3.189 3136G3EH4 1.300 3.102 3.189 1.250 3.163 3.247 3136G3EE1 1.000 2.209 2.241 3136G3DV4 1.375 4.098 4.247 1.550 4.270 4.4413136G3PB5 1.500 2.881 2.959 3136G3SG1 1.400 3.586 3.693 3136G3RL1 3136G3TG0 1.150 3.421 3.499 3136G3WC5 1.350 3.418 3.534 1.000 1.530 1.5513134G9B55 1.250 2.687 2.748 3136G3XE0 .800 1.554 1.570 3136G3SY2 3136G3XT7 1.250 4.407 4.573 3135G0M26 1.000 2.520 2.567 3135G0M26 1.000 2.520 2.567 3136G3XS9 .900 2.036 2.068 3136G3ZW8 1.250 4.407 4.573 3136G3A62 1.050 2.517 2.567 3136G3Y74 3136G3P25 1.125 2.514 2.567 1.125 3.798 3.901 1.091 2.762 2.814 3136G4GU1 1.400 2.829 2.901 1.165 3.057 3.140 FHLB DISC NOTES 313397AE1 .603 .014 .014 313385BK1 .573 .093 .093 313385AE6 .532 .014 .014 313385BZ8 .563 .131 .132 313385BX3 .542 .125 .126 313385CD6 .573 .142 .142 313385CD6 .573 .142 .142 .522 .087 .088313385BH8 .553 .490 .493 .553 .452 .455 313385AM8 .421 .033 .033 313385GX8 313385AL0 .441 .030 .030 313385FQ4 .552 .368 .370 313385FM3 .592 .359 .362 313385PF7 .807 .864 .871 313385HL3 .632 .487 .490 313385GG5 .631 .411 .414 313385GP5 .627 .430 .433 313385GW0 .672 .449 .452 313385GW0 .672 .449 .452 313385GY6 .662 .454 .458 313385GY6 .662 .454 .458 313385GY6 .662 .454 .458 313385KK1 .804 .614 .619 313385HD1 .662 .468 .471 313385HD1 .662 .468 .471 313385HD1 .662 .468 .471 313385HD1 .662 .468 .471 3134GAPM0 3134GAPM0 3134GANB6 3134GAET7 3134GAEG5 3134GABZ6 3134G9WU7 3136G3BX2 3136G2YT8 313589AS2 3135G0R39 COUNTY OF RIVERISIDE TREASURER-TAX COLLECTOR 874 Description Maturity Date Coupon Par Value Book Value Market Price Market Value Unrealized Gain/Loss CUSIP Month End Portfolio Holdings Yield To Maturity Modified Duration Years To Maturity FHLB DISC NOTE 06/21/2017 .660 24,000,000.00 23,919,920.00 99.729250 23,935,020.00 15,100.00 FHLB DISC NOTE 06/23/2017 .650 3,000,000.00 2,990,141.67 99.726083 2,991,782.50 1,640.83 FHLB DISC NOTE 06/23/2017 .650 2,000,000.00 1,993,427.78 99.726083 1,994,521.67 1,093.89 FHLB DISC NOTE 06/28/2017 .670 14,000,000.00 13,952,578.89 99.718167 13,960,543.33 7,964.44 FHLB DISC NOTE 06/28/2017 .670 7,000,000.00 6,976,289.44 99.718167 6,980,271.67 3,982.23 .608 618,000,000.00 615,595,238.60 99.798658 616,755,705.56 1,160,466.96 FHLB 5YrNc3MoB 06/20/2018 1.250 3,719,720.08 3,719,720.08 99.994000 3,719,496.90 -223.18 FHLB 2Yr 12/01/2017 1.020 10,000,000.00 10,000,000.00 100.024000 10,002,400.00 2,400.00 FHLB 1.5Yr 05/24/2017 .875 25,000,000.00 25,046,250.00 100.051000 25,012,750.00 -33,500.00 FHLB 2.5YrNc1YrE 09/28/2018 1.100 5,000,000.00 5,000,000.00 99.705000 4,985,250.00 -14,750.00 FHLB 5Yr 04/05/2021 1.375 5,000,000.00 4,996,350.00 97.298000 4,864,900.00 -131,450.00 FHLB 4Yr 04/06/2020 1.200 10,000,000.00 9,996,000.00 98.424000 9,842,400.00 -153,600.00 FHLB 1YrNc3MoB 04/28/2017 .650 25,000,000.00 25,000,000.00 100.001000 25,000,250.00 250.00 FHLB 1YrNc3MoB 04/28/2017 .650 15,000,000.00 15,000,000.00 100.001000 15,000,150.00 150.00 FHLB 1YrNc3MoB 04/28/2017 .650 10,000,000.00 10,000,000.00 100.001000 10,000,100.00 100.00 FHLB 1YrNc3MoB 06/30/2017 .650 50,000,000.00 50,000,000.00 99.983000 49,991,500.00 -8,500.00 FHLB 1YrNc7MoE 07/20/2017 .750 15,000,000.00 15,000,000.00 99.979000 14,996,850.00 -3,150.00 FHLB 1YrNc7MoE 07/20/2017 .750 25,000,000.00 25,000,000.00 99.979000 24,994,750.00 -5,250.00 FHLB 1YrNc7MoE 07/20/2017 .750 10,000,000.00 10,000,000.00 99.979000 9,997,900.00 -2,100.00 FHLB 3Yr 07/01/2020 .971 25,000,000.00 25,000,000.00 100.498000 25,124,500.00 124,500.00 FHLB 2Yr 08/07/2018 .625 5,000,000.00 4,989,600.00 99.205000 4,960,250.00 -29,350.00 FHLB 2Yr 08/07/2018 .625 25,000,000.00 24,948,000.00 99.205000 24,801,250.00 -146,750.00 FHLB 2Yr 08/07/2018 .625 10,000,000.00 9,979,200.00 99.205000 9,920,500.00 -58,700.00 FHLB 1.5Yr 01/08/2018 .650 15,000,000.00 15,007,200.00 99.557000 14,933,550.00 -73,650.00 FHLB 1.5Yr 01/08/2018 .650 10,000,000.00 10,006,200.00 99.557000 9,955,700.00 -50,500.00 FHLB 2YrNc1YrE 11/23/2018 1.000 9,500,000.00 9,500,000.00 99.259000 9,429,605.00 -70,395.00 FHLB 3YrNc3MoB 08/15/2019 .875 25,000,000.00 25,000,000.00 99.585000 24,896,250.00 -103,750.00 FHLB 3Yr 08/05/2019 .875 15,000,000.00 14,971,200.00 98.585000 14,787,750.00 -183,450.00 FHLB 2Yr 10/01/2018 .875 10,000,000.00 9,993,200.00 99.450000 9,945,000.00 -48,200.00 FHLB 5YrNc3MoB 09/30/2021 1.350 15,000,000.00 15,000,000.00 98.029000 14,704,350.00 -295,650.00 FHLB 5YrNc3MoB 09/30/2021 1.350 15,000,000.00 15,000,000.00 97.996000 14,699,400.00 -300,600.00 FHLB 4Yr 09/22/2020 .899 10,000,000.00 10,000,000.00 100.110000 10,011,000.00 11,000.00 FHLB 4Yr 09/22/2020 .899 15,000,000.00 15,000,000.00 100.110000 15,016,500.00 16,500.00 FHLB 4Yr 09/28/2020 .906 10,000,000.00 10,000,000.00 100.110000 10,011,000.00 11,000.00 FHLB 4Yr 09/28/2020 .906 15,000,000.00 15,000,000.00 100.110000 15,016,500.00 16,500.00 FHLB 5YrNc6MoB 12/09/2021 1.600 10,000,000.00 10,000,000.00 98.057000 9,805,700.00 -194,300.00 FHLB 5YrNc6MoB 12/09/2021 1.600 10,000,000.00 10,000,000.00 98.057000 9,805,700.00 -194,300.00 FHLB 5YrNc1YrB 12/08/2021 1.700 15,000,000.00 15,000,000.00 99.215000 14,882,250.00 -117,750.00 FHLB 1Yr 11/17/2017 .750 25,000,000.00 24,971,000.00 99.881000 24,970,250.00 -750.00 FHLB 5Yr 12/08/2017 .750 6,100,000.00 6,090,086.65 99.796000 6,087,556.00 -2,530.65 FHLB 5YrNc3MoB 12/30/2021 2.000 20,000,000.00 20,000,000.00 100.005000 20,001,000.00 1,000.00 FHLB 5YrNc3MoB 12/30/2021 2.050 20,000,000.00 20,000,000.00 99.611000 19,922,200.00 -77,800.00 FHLB 5YrNc3MoB 12/30/2021 2.000 15,000,000.00 15,000,000.00 99.719000 14,957,850.00 -42,150.00 FHLB 5YrNc6MoB 12/30/2021 2.050 15,000,000.00 15,000,000.00 100.000000 15,000,000.00 0.00 FHLB 6Mo 06/09/2017 1.000 10,000,000.00 10,014,141.00 100.135000 10,013,500.00 -641.00 FHLB 5YrNc6MoB 12/30/2021 2.000 20,000,000.00 20,000,000.00 99.947000 19,989,400.00 -10,600.00 1.060 604,319,720.08 604,228,147.73 99.625610 602,057,207.90 -2,170,939.83 FFCB DISC NOTE 02/22/2017 .600 10,000,000.00 9,946,333.33 99.931000 9,993,100.00 46,766.67 FFCB DISC NOTE 02/16/2017 .560 25,000,000.00 24,880,611.11 99.939000 24,984,750.00 104,138.89 FFCB DISC NOTE 01/12/2017 .530 15,000,000.00 14,941,037.50 99.991000 14,998,650.00 57,612.50 FFCB DISC NOTE 01/12/2017 .530 10,000,000.00 9,960,838.89 99.991000 9,999,100.00 38,261.11 FFCB DISC NOTE 01/12/2017 .530 15,000,000.00 14,941,258.33 99.991000 14,998,650.00 57,391.67 FFCB DISC NOTE 01/12/2017 .530 10,000,000.00 9,960,838.89 99.991000 9,999,100.00 38,261.11 FFCB DISC NOTE 02/13/2017 .560 25,000,000.00 24,888,777.78 99.943000 24,985,750.00 96,972.22 FFCB DISC NOTE 02/17/2017 .500 5,000,000.00 4,983,194.44 99.938000 4,996,900.00 13,705.56 FFCB DISC NOTE 05/10/2017 .610 25,000,000.00 24,864,020.83 99.806000 24,951,500.00 87,479.17 FFCB DISC NOTE 06/01/2017 .570 15,000,000.00 14,919,963.00 99.768000 14,965,200.00 45,237.00 FFCB DISC NOTE 02/14/2017 .460 20,000,000.00 19,941,222.22 99.942000 19,988,400.00 47,177.78 FFCB DISC NOTE 06/01/2017 .570 25,000,000.00 24,866,604.17 99.768000 24,942,000.00 75,395.83 FFCB DISC NOTE 06/29/2017 .570 25,000,000.00 24,856,312.50 99.725000 24,931,250.00 74,937.50 FFCB DISC NOTE 05/26/2017 .530 25,000,000.00 24,880,750.00 99.782000 24,945,500.00 64,750.00 FFCB DISC NOTE 06/19/2017 .600 25,000,000.00 24,872,916.67 99.740000 24,935,000.00 62,083.33 FFCB DISC NOTE 07/07/2017 .610 25,000,000.00 24,866,562.50 99.702000 24,925,500.00 58,937.50 FFCB DISC NOTE 01/31/2017 .440 25,000,000.00 24,957,222.22 99.970000 24,992,500.00 35,277.78 .551 325,000,000.00 323,528,464.38 99.856262 324,532,850.00 1,004,385.62 FFCB 5Yr 10/10/2019 .734 15,000,000.00 15,000,000.00 99.781000 14,967,150.00 -32,850.00 FFCB 5Yr 10/10/2019 .734 25,000,000.00 25,000,000.00 99.781000 24,945,250.00 -54,750.00 FFCB 5Yr 10/10/2019 .734 10,000,000.00 9,997,560.00 99.781000 9,978,100.00 -19,460.00 FFCB 2Yr 04/21/2017 .600 10,000,000.00 10,000,000.00 100.009000 10,000,900.00 900.00 FFCB 2Yr 05/08/2017 .650 15,000,000.00 14,991,000.00 99.978000 14,996,700.00 5,700.00 FFCB 1.5Yr 01/13/2017 .500 10,000,000.00 10,000,000.00 100.005000 10,000,500.00 500.00 FFCB 1.5Yr 02/06/2017 .590 10,000,000.00 10,000,000.00 100.011000 10,001,100.00 1,100.00 FFCB 1.5Yr 02/06/2017 .590 10,000,000.00 10,000,000.00 100.011000 10,001,100.00 1,100.00 FFCB 1.5Yr 02/06/2017 .590 15,000,000.00 14,989,950.00 100.011000 15,001,650.00 11,700.00 FFCB 3YrNc3MoA 10/15/2018 1.110 5,000,000.00 5,000,000.00 99.412000 4,970,600.00 -29,400.00 FFCB 2Yr 09/25/2017 .900 25,250,000.00 25,371,578.75 100.088000 25,272,220.00 -99,358.75 FFCB 2Yr 05/22/2017 .625 15,650,000.00 15,669,343.40 99.985000 15,647,652.50 -21,690.90 FFCB 1.25Yr 01/13/2017 .430 24,000,000.00 23,994,480.00 100.002000 24,000,480.00 6,000.00 FFCB 1.5 Yr 04/21/2017 .500 25,000,000.00 24,987,765.25 99.974000 24,993,500.00 5,734.75 FFCB 1.5Yr 03/27/2017 .520 10,000,000.00 10,000,000.00 100.007000 10,000,700.00 700.00 FFCB 2Yr 02/09/2018 .734 15,000,000.00 15,000,000.00 100.192000 15,028,800.00 28,800.00 FFCB 2Yr 02/09/2018 .734 20,000,000.00 20,000,000.00 100.192000 20,038,400.00 38,400.00 FFCB 3Yr 11/23/2018 .875 10,000,000.00 10,006,056.38 100.094000 10,009,400.00 3,343.62 FFCB 3Yr 02/25/2019 1.026 15,000,000.00 15,000,000.00 100.149000 15,022,350.00 22,350.00 FFCB 3Yr 02/25/2019 1.026 5,000,000.00 5,000,000.00 100.149000 5,007,450.00 7,450.00 FFCB 2.5Yr 09/17/2018 .956 5,000,000.00 5,000,000.00 100.373000 5,018,650.00 18,650.00 FFCB 3 Yr 04/04/2019 .835 25,000,000.00 25,000,000.00 100.156000 25,039,000.00 39,000.00 FFCB 4Yr 04/01/2020 .852 25,000,000.00 25,000,000.00 100.176000 25,044,000.00 44,000.00 FFCB 3YrNc1YrA 03/29/2019 1.250 10,310,000.00 10,310,000.00 99.644000 10,273,296.40 -36,703.60 FFCB 4Yr 04/13/2020 .925 50,000,000.00 50,000,000.00 100.210000 50,105,000.00 105,000.00 FFCB 4YrNc1YrA 04/27/2020 1.420 7,700,000.00 7,700,000.00 98.805000 7,607,985.00 -92,015.00 FFCB 5Yr 05/25/2021 1.026 10,000,000.00 10,000,000.00 100.344000 10,034,400.00 34,400.00 FFCB 5Yr 05/25/2021 1.026 10,000,000.00 10,000,000.00 100.344000 10,034,400.00 34,400.00 FFCB 3Yr 07/15/2019 .894 5,000,000.00 5,000,000.00 100.125000 5,006,250.00 6,250.00 FFCB 2.5YrNc3MoA 01/28/2019 1.110 25,000,000.00 25,000,000.00 98.964000 24,741,000.00 -259,000.00 FFCB 4YrNc1YrA 08/24/2020 1.320 10,000,000.00 10,000,000.00 98.117000 9,811,700.00 -188,300.00 FFCB 1.25Yr 12/22/2017 .700 15,000,000.00 14,988,000.00 99.742000 14,961,300.00 -26,700.00 3133EFLM7 3133EFNK9 3133EFM61 3133EFP84 3133EFV38 3133EF2Z9 3130AA2T4 FFCB DISC NOTES FFCB BONDS 3133EFHH3 FHLB BONDS 3130A7TT2 3130A7TT2 3130AA2T4 313385HD1 .662 .468 .471 313385HF6 .652 .473 .477 .652 .473 .477 .672 .487 .490 313385HL3 .672 .487 .490 .610 .350 .352 313383EP2 1.250 1.451 1.468 1.020 .909 .918 3130A1NN4 .728 .393 .395 1.100 1.716 1.742 3130A7PV1 1.390 4.112 4.263 1.210 3.183 3.266 3130A7TT2 .650 .322 .323 .650 .322 .323 .650 .322 .323 .650 .494 .4963130A8JR5 3130A8L35 .750 .549 .551 3130A8L35 .750 .549 .551 3130A8L35 .750 .549 .551 3130A8NF6 .971 3.690 3.501 3130A8PK3 .726 1.585 1.600 3130A8PK3 .726 1.585 1.600 3130A8PK3 .726 1.585 1.600 3130A8NZ2 .618 1.011 1.022 3130A8NZ2 .608 1.012 1.022 3130A8UH4 1.000 1.870 1.896 .875 2.583 2.622 3130A8WS8 3130A8Y72 .940 2.550 2.595 3130A9AE1 .908 1.729 1.751 3130A9DH1 1.350 4.571 4.751 3130A9DA6 1.350 4.571 4.751 3130A9FU0 .899 3.675 3.729 3130A9FM8 .899 3.675 3.729 3130A9FR7 .906 3.702 3.745 3130A9FR7 .906 3.702 3.745 1.600 4.726 4.942 1.600 4.726 4.942 3130AA5A2 1.700 4.711 4.940 3130AA4U9 .871 .872 .879 313381B20 .910 .930 .937 2.000 4.736 5.000 2.050 4.729 5.000 3130AACK2 3130AADH8 3130AAE20 2.000 4.736 5.000 3130AAF78 2.050 4.729 5.000 313379FW4 .708 .437 .438 3130AAGD4 2.000 4.736 5.000 1.063 2.340 2.407 313313CE6 .603 .144 .145 313313BY3 .563 .128 .129 313313AM0 .532 .033 .033 313313AM0 .532 .033 .033 313313AM0 .532 .033 .033 313313AM0 .532 .033 .033 313313BV9 .563 .120 .121 313313BZ0 .502 .131 .132 313313FK9 .613 .354 .356 313313GH5 .573 .414 .416 313313BW7 .461 .123 .123 313313GH5 .573 .414 .416 313313HM3 .573 .490 .493 313313GB8 .533 .398 .400 313313HB7 .603 .463 .466 313313BG2 313313HV3 .613 .512 .515 .441 .085 .085 .553 .266 .267 .734 2.765 2.775 3133EDXQ0 .734 2.765 2.775 .743 2.764 2.775 .600 .303 .304 .680 .349 .351 3133EE3Y4 .500 .036 .036 .590 .101 .101 3133EE6A3 .590 .101 .101 .635 .101 .101 1.110 1.763 1.789 .650 .729 .734 .547 .388 .389 .449 .036 .036 3133EFKR7 .533 .303 .304 3133EFJK4 .520 .235 .236 .734 1.103 1.110 2.153 3133EFNK9 .734 1.103 1.110 .843 1.887 1.896 1.026 2.132 2.153 3133EFQJ9 3133EFE52 3133EFE52 1.026 2.132 .956 1.700 1.712 .835 2.240 2.258 3133EFT56 .852 3.294 3.252 1.250 2.200 2.241 .925 3.243 3.285 3133EF5D5 1.420 3.226 3.323 3133EGCE3 1.026 4.329 4.400 1.026 4.329 4.400 .894 2.516 2.537 3133EGCE3 3133EGLV5 3133EGNY7 1.110 2.036 2.077 3133EGSA4 1.320 3.533 3.649 3133EGVM4 .765 .970 .975 313385HF6 313385HL3 3130A7PU3 3130A7H57 3130A6V95 3133EDXQ0 3133EEZR4 3133EE6A3 3133EEN48 3133EE6A3 3133EEJ43 3133EDXQ0 3133EFEM5 COUNTY OF RIVERISIDE TREASURER-TAX COLLECTOR 975 Description Maturity Date Coupon Par Value Book Value Market Price Market Value Unrealized Gain/Loss CUSIP Month End Portfolio Holdings Yield To Maturity Modified Duration Years To Maturity FFCB 4YrNc1YrA 09/21/2020 1.350 10,000,000.00 10,000,000.00 97.154000 9,715,400.00 -284,600.00 FFCB 1Mo 10/11/2019 .844 15,000,000.00 15,000,000.00 99.938000 14,990,700.00 -9,300.00 FFCB 4YrNc1YrA 10/13/2020 1.340 15,000,000.00 15,000,000.00 97.562000 14,634,300.00 -365,700.00 FFCB 3Yr 10/24/2019 .936 15,000,000.00 15,000,000.00 100.083000 15,012,450.00 12,450.00 FFCB 4YrNc3MoA 11/02/2020 1.380 10,000,000.00 10,000,000.00 97.385000 9,738,500.00 -261,500.00 FFCB 3Yr 11/14/2019 .865 15,000,000.00 15,000,000.00 100.057000 15,008,550.00 8,550.00 FFCB 3Yr 11/14/2019 .865 15,000,000.00 15,000,000.00 100.057000 15,008,550.00 8,550.00 FFCB 4YrNc1YrA 12/07/2020 1.770 10,000,000.00 10,000,000.00 99.125000 9,912,500.00 -87,500.00 .861 592,910,000.00 593,005,733.78 99.776009 591,581,933.90 -1,423,799.88 FAMCA DISC NOTE 01/18/2017 .680 20,000,000.00 19,884,022.22 99.984000 19,996,800.00 112,777.78 FAMCA DISC NOTE 01/25/2017 .550 20,000,000.00 19,923,611.11 99.977000 19,995,400.00 71,788.89 FAMCA DISC NOTE 01/03/2017 .540 25,000,000.00 24,931,944.44 100.000000 25,000,000.00 68,055.56 FAMCA DISC NOTE 06/23/2017 .660 25,000,000.00 24,906,958.33 99.734000 24,933,500.00 26,541.67 FAMCA DISC NOTE 06/15/2017 .690 50,000,000.00 49,824,625.00 99.746000 49,873,000.00 48,375.00 .636 140,000,000.00 139,471,161.10 99.856214 139,798,700.00 327,538.90 FAMCA 3Yr 09/05/2017 1.120 8,850,000.00 8,850,000.00 100.155000 8,863,717.50 13,717.50 FAMCA 1Yr 02/23/2017 .500 25,000,000.00 25,000,000.00 100.011000 25,002,750.00 2,750.00 FAMCA 3Yr 03/19/2019 1.063 10,000,000.00 10,000,000.00 100.415000 10,041,500.00 41,500.00 FAMCA 3Yr 07/26/2019 1.024 15,000,000.00 15,000,000.00 100.548000 15,082,200.00 82,200.00 FAMCA 1Yr 12/22/2017 .759 25,000,000.00 25,000,000.00 99.990000 24,997,500.00 -2,500.00 FAMCA 1Yr 12/27/2017 .945 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 .836 108,850,000.00 108,850,000.00 100.126475 108,987,667.50 137,667.50 UC REGENTS 02/16/2017 .680 26,850,000.00 26,809,933.83 99.913111 26,826,670.33 16,736.50 .680 26,850,000.00 26,809,933.83 99.913111 26,826,670.33 16,736.50 CONNECTICUT ST 08/01/2018 2.250 25,000,000.00 25,613,250.00 102.453000 25,613,250.00 0.00 WASHINGTON STATE 08/01/2017 .830 12,885,000.00 12,885,000.00 100.000000 12,885,000.00 0.00 TEXAS ST 10/01/2019 1.497 5,000,000.00 5,000,000.00 100.000000 5,000,000.00 0.00 TEXAS ST 10/01/2017 .723 7,500,000.00 7,500,000.00 100.000000 7,500,000.00 0.00 OHIO STATE 05/01/2017 1.250 9,215,000.00 9,268,354.85 100.579000 9,268,354.85 0.00 OHIO STATE 05/01/2018 1.250 9,535,000.00 9,597,549.60 100.656000 9,597,549.60 0.00 HAWAII STATE 04/01/2019 1.380 4,990,000.00 4,990,000.00 100.000000 4,990,000.00 0.00 HAWAII STATE 04/01/2020 1.660 5,055,000.00 5,055,000.00 100.000000 5,055,000.00 0.00 HAWAII STATE 04/01/2017 1.000 4,890,000.00 4,896,992.70 100.143000 4,896,992.70 0.00 HAWAII STATE 04/01/2018 1.250 4,925,000.00 4,933,569.50 100.174000 4,933,569.50 0.00 RHODE ISLAND STATE 05/01/2018 1.250 2,595,000.00 2,607,144.60 100.468000 2,607,144.60 0.00 RHODE ISLAND STATE 05/01/2017 .750 2,580,000.00 2,580,748.20 100.029000 2,580,748.20 0.00 RHODE ISLAND STATE 05/01/2020 1.625 2,660,000.00 2,670,719.80 100.403000 2,670,719.80 0.00 RHODE ISLAND STATE 05/01/2019 1.375 2,625,000.00 2,636,838.75 100.451000 2,636,838.75 0.00 CALIFORNIA STATE 04/01/2018 .900 41,290,000.00 41,120,711.00 99.590000 41,120,711.00 0.00 CALIFORNIA STATE 04/01/2017 1.500 8,245,000.00 8,295,129.60 100.608000 8,295,129.60 0.00 GEORGIA STATE 07/01/2017 3.000 6,110,000.00 6,247,413.90 102.249000 6,247,413.90 0.00 GEORGIA STATE 07/01/2020 3.000 6,825,000.00 7,254,770.25 106.297000 7,254,770.25 0.00 GEORGIA STATE 07/01/2018 3.000 6,345,000.00 6,602,480.10 104.058000 6,602,480.10 0.00 GEORGIA STATE 07/01/2019 3.000 6,580,000.00 6,943,874.00 105.530000 6,943,874.00 0.00 ARKANSAS STATE 06/01/2018 2.250 12,810,000.00 13,139,473.20 102.572000 13,139,473.20 0.00 ARKANSAS STATE 06/01/2019 2.000 13,470,000.00 13,837,192.20 102.726000 13,837,192.20 0.00 ARKANSAS STATE 06/01/2017 2.000 2,015,000.00 2,039,139.70 101.198000 2,039,139.70 0.00 HAWAII STATE 10/01/2018 1.000 4,870,000.00 4,878,473.80 100.174000 4,878,473.80 0.00 HAWAII STATE 10/01/2019 1.151 2,250,000.00 2,253,262.50 100.145000 2,253,262.50 0.00 HAWAII STATE 10/01/2020 1.370 2,250,000.00 2,254,320.00 100.192000 2,254,320.00 0.00 CALIFORNIA STATE 11/01/2017 1.750 9,480,000.00 9,569,301.60 100.942000 9,569,301.60 0.00 CALLIFORNIA STATE 11/01/2017 .850 75,000,000.00 75,036,750.00 100.049000 75,036,750.00 0.00 CALIFORNIA STATE 11/01/2018 1.050 50,000,000.00 50,098,500.00 100.197000 50,098,500.00 0.00 HAWAII STATE 08/01/2017 1.231 22,165,000.00 22,241,025.95 100.343000 22,241,025.95 0.00 1.355 369,160,000.00 372,046,985.80 100.782042 372,046,985.80 0.00 NESTLE 02/06/2017 .650 50,000,000.00 49,832,986.11 99.940000 49,970,000.00 137,013.89 TOYOTA 02/13/2017 .950 30,000,000.00 29,857,500.00 99.928333 29,978,500.00 121,000.00 NESTLE 05/12/2017 .750 50,000,000.00 49,736,458.33 99.581528 49,790,763.89 54,305.56 NESTLE 05/11/2017 .790 30,000,000.00 29,843,316.67 99.584722 29,875,416.67 32,100.00 TOYOTA MOTOR CORP 01/09/2017 .810 45,000,000.00 44,900,775.00 99.986667 44,994,000.00 93,225.00 NESTLE 05/10/2017 .740 45,000,000.00 44,805,750.00 99.587917 44,814,562.50 8,812.50 APPLE 01/10/2017 .500 10,000,000.00 9,990,555.56 99.985000 9,998,500.00 7,944.44 APPLE 01/20/2017 .510 50,000,000.00 49,944,750.00 99.968333 49,984,166.67 39,416.67 APPLE 01/18/2017 .510 50,000,000.00 49,946,166.67 99.971667 49,985,833.33 39,666.66 APPLE 02/23/2017 .620 50,000,000.00 49,907,000.00 99.911667 49,955,833.33 48,833.33 APPLE 01/13/2017 .500 50,000,000.00 49,953,472.22 99.980000 49,990,000.00 36,527.78 TOYOTA MOTOR CORP 03/23/2017 .870 50,000,000.00 49,855,000.00 99.842500 49,921,250.00 66,250.00 TOYOTA MOTOR CORP 02/27/2017 .740 50,000,000.00 49,907,500.00 99.905000 49,952,500.00 45,000.00 TOYOTA MOTOR CORP 04/12/2017 .910 25,000,000.00 24,924,166.67 99.719444 24,929,861.11 5,694.44 APPLE 04/13/2017 .800 50,000,000.00 49,866,666.67 99.716667 49,858,333.33 -8,333.34 JOHNSON & JOHNSON 01/05/2017 .600 100,000,000.00 99,966,666.67 99.993333 99,993,333.33 26,666.66 NESTLE 03/16/2017 .760 50,000,000.00 49,905,000.00 99.856111 49,928,055.56 23,055.56 NESTLE 03/20/2017 .720 50,000,000.00 49,910,000.00 99.848333 49,924,166.67 14,166.67 .696 835,000,000.00 833,053,730.57 99.861686 833,845,076.39 791,345.82 .799 7,556,504,720.08 7,551,196,851.23 99.720823 7,535,408,708.47 -15,788,142.76 .799 7,556,504,720.08 7,551,196,851.23 99.720823 7,535,408,708.47 -15,788,142.76Grand Total .780 1.123 1.152 .698 .157 .158 Total Fund .780 1.123 1.152 64105GQG2 .761 .204 .205 64105GQL1 .721 .215 .216 03785DRD0 .802 .280 .282 47816FN56 .600 .014 .014 89233GPT7 .741 .158 .159 89233GRC2 .913 .277 .279 03785DND4 .500 .035 .036 89233GQP4 .873 .223 .225 03785DNJ1 .511 .049 .049 03785DPP5 .621 .147 .148 03785DNA0 .500 .027 .027 03785DNL6 .511 .054 .055 89233GN93 .812 .024 .025 64105GSA3 .743 .353 .356 64105GSC9 .754 .359 .362 64105GSB1 .794 .356 .359 64105GP65 .652 .101 .101 89233GPD2 .955 .119 .121 .973 1.314 1.341 COMM PAPER 13063C4V9 .950 1.809 1.836 4197915F1 .771 .578 .584 13063CFC9 .820 .826 .836 13063C4U1 .800 .828 .836 419792NE2 1.101 2.694 2.751 419792NF9 1.319 3.634 3.753 041042ZR6 .572 .415 .416 419792ND4 .911 1.728 1.751 2.499 041042ZS4 .840 1.398 1.416 041042ZT2 1.024 2.362 2.416 13063CP61 3733845H5 3733845J1 3733845K8 1.110 2.385 3133EGVK8 1.350 3.605 3.726 3133EGYA7 .844 2.748 2.778 3133EGXX8 1.340 3.667 3.786 3133EGZS7 .936 2.784 2.814 3133EGC94 1.380 3.716 3.841 3133EGF67 .865 2.838 2.871 3133EGF67 .865 2.838 2.871 3133EGR49 1.770 3.779 3.937 .852 1.996 2.022 FMAC DISC NOTES 31315LAT5 .684 .049 .049 .552 .068 .068 .501 .008 .008 31315LHF8 .662 .473 .477 31315LGX0 .692 .451 .455 .632 .263 .266 31315P2K4 1.120 .671 .679 FARMER MAC .500 .147 .148 3132X0ED9 1.063 2.198 2.214 1.024 2.536 2.567 3132X0LX7 .759 .971 .975 .945 .982 .989 .836 1.090 1.099 91411SPG9 .681 .128 .129 .681 .128 .129 MUNI BONDS 93974DSZ2 1.398 1.540 1.584 .830 .579 .584 882723A33 1.497 2.675 2.751 .723 .746 .751 31315LBA5 31315LAC2 MUNI ZER0 CPNS 20772JL34 3132X0MC2 3132X0EV9 3132X0CY5 882723ZZ5 677522HV9 .741 .330 .332 677522HW7 .940 1.318 1.332 419792JG2 1.380 2.202 2.249 419792JH0 1.660 3.140 3.252 419792JE7 .851 .248 .249 419792JF4 1.160 1.234 1.249 76222RUK6 1.010 1.318 1.332 76222RUJ9 .720 .330 .332 76222RUM2 1.520 3.227 3.334 76222RUL4 1.220 2.286 2.332 3.288 3.501 13063CP79 1.127 1.237 1.249 .767 .248 .249 .930 1.454 1.499 .701 .494 .499 3733845L6 1.370 COUNTY OF RIVERISIDE TREASURER-TAX COLLECTOR 1076 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 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 COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 11 77 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 78 AGENDA ITEM 6D BLANK Agenda item 6D  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM:  Budget and Implementation Committee  Matt Wallace, Procurement Manager  Jose Mendoza, Procurement Analyst  THROUGH: Anne Mayer, Executive Director  SUBJECT: Single Signature Authority Report    BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION:    This item is for the Commission to receive and file the Single Signature Authority report for the  second quarter ended December 31, 2016.     BACKGROUND INFORMATION:    Certain contracts are executed under single signature authority as permitted in the  Commission’s Procurement Policy Manual adopted in September 2015.  The Executive Director  is authorized to sign services contracts that are less than $150,000 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 second quarter ended December 31,  2016, under the single signature authority granted to the Executive Director.  The unused  capacity of single signature authority for services at December 31, 2016, is $866,000.    Attachment:  Single Signature Authority Report as of December 31, 2016  79 BLANK V:\2017\03 March\B&I\6D.JM.Comm.Att1.SingleSignQ2 CONSULTANT DESCRIPTION OF SERVICES ORIGINAL CONTRACT AMOUNT PAID AMOUNT REMAINING CONTRACT AMOUNT AMOUNT AVAILABLE July 1, 2016 $1,000,000.00 Smith, Watts & Hartman State Legislative Advocacy Services 18,000.00 0.00 18,000.00 Alvarado Smith Legal Services 16,000.00 2,542.75 13,457.25 S&P Global Ratings Rating evaluation service for indicative rating related to I-15 Express Lanes TIFIA loan and toll revenue bonds 100,000.00 75,000.00 25,000.00 AMOUNT USED 134,000.00 134,000.00 $866,000.00 None N/A $- $- $- Jose Mendoza Theresia Trevino Prepared by Reviewed by AMOUNT USED SINGLE SIGNATURE AUTHORITY AS OF December 31, 2016 Note: Shaded area represents new contracts listed in the first quarter. AMOUNT REMAINING through December 31, 2016 Agreements that fall under Public Utilities Code 130323 (C) 80 BLANK AGENDA ITEM 6E BLANK Agenda Item 6E  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM: Budget and Implementation Committee  Theresia Trevino, Chief Financial Officer  THROUGH: Anne Mayer, Executive Director  SUBJECT: Reimbursement Resolution for Interstate 15 Express Lanes Project    BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION:    This item is for the Commission to adopt Resolution No. 17‐003, “Declaration of Official Intent of  Riverside County Transportation Commission to Reimburse Certain Expenditures from Proceeds  of Indebtedness”.    BACKGROUND INFORMATION:    The I‐15 Express Lanes Project (project) will construct two tolled express lanes in each direction  between the I‐15/Cajalco Road interchange and the 15/60 interchange.  All proposed  improvements are anticipated to be constructed within existing Caltrans right of way with the  majority of the improvements occurring within the existing I‐15 median.  Right of way impacts  will be limited, and some soundwalls will be built.    With tolled express lanes, users benefit from reduced travel times achieved through congestion  pricing.  Tolls to be charged will vary by time of day based on congestion levels.  The I‐15 Express  Lanes will provide many travel choices including carpooling, vanpooling, express bus, and single  occupant vehicle travel.  A completely electronic toll collection system will be used, and all  vehicles in the tolled express lanes will be required to have a FasTrak transponder.  Environmental approval via a finding of no significant impact was obtained in May 2016, and the  Commission adopted the environmental document at its July 2016 meeting.  A project and  construction management (PCM) team has been in place since April 2015.  The investment grade  traffic and revenue (T&R) study was adopted by the Commission in June 2016.  The project  finance team, including a financial advisor and underwriters, is in place.      At its November 2016 meeting, the Commission reviewed a preliminary funding plan for the  project and approved an increase in federal funds programmed on the project.  The preliminary  funding plan for approximately $497 million included tax‐exempt bonds, a federal Transportation  Infrastructure Finance and Innovation Act (TIFIA) loan, 2009 Measure A Western County highway  funds, and federal funds.  Issuance of the bonds and execution of the TIFIA loan, or financial close,  81 Agenda Item 6E  is expected by mid‐2017.  Once financial close occurs, construction will begin.  The projected  project opening is mid‐2020.    Prior to financial close, project costs are funded with 2009 Measure A Western County highway  funds on a pay‐as‐you‐go basis as well as available commercial paper proceeds.  Staff  recommends that the Commission adopt Resolution No. 17‐003 in order to permit the  reimbursement of project costs incurred prior to the issuance of the tax‐exempt bonds with the  proceeds from such bonds.      There is no financial impact as a result of the adoption of this reimbursement resolution.     Attachment:  Resolution No. 17‐003  82 OHSUSA:766172934.4 NO. 17-003 DECLARATION OF OFFICIAL INTENT OF RIVERSIDE COUNTY TRANSPORTATION COMMISSION TO REIMBURSE CERTAIN EXPENDITURES FROM PROCEEDS OF INDEBTEDNESS WHEREAS, the Riverside County Transportation Commission (the “Commission”) is a county transportation commission duly organized and existing pursuant to the County Transportation Commissions Act, being Division 12 of the Public Utilities Code of the State of California (Section 130000 et seq.) (as amended, the “Commission Act”); WHEREAS, the Commission is authorized pursuant to the Riverside County Transportation Sales Tax Act, being Division 25 of the Public Utilities Code of the State of California (Section 240000 et seq.) (the “Sales Tax Act”), to, among other things, and with voter approval, levy a retail transactions and use tax in accordance with the provisions of Part 1.6 (commencing with Section 7251) of Division 2 of the California Revenue and Taxation Code (the “Sales Tax Law”) and to issue limited tax bonds payable from the proceeds of such tax; WHEREAS, the Commission adopted Ordinance No. 02-001, named the “Transportation Expenditure Plan and Retail Transaction and Use Tax Ordinance” (“Ordinance No. 02-001”) on May 8, 2002, pursuant to the provisions of the Sales Tax Act, which Ordinance provides for the imposition of a retail transactions and use tax (the “Sales Tax”) applicable in the incorporated and unincorporated territory of the County in accordance with the provisions of the Sales Tax Law at the rate of one-half of one percent (1/2%) commencing July 1, 2009 and continuing for a period not to exceed thirty (30) years; WHEREAS, by its terms, the Ordinance became effective at the close of the polls on November 5, 2002, the day of the election at which the proposition imposing the Sales Tax was approved by more than two-thirds of the electors voting on the measure; WHEREAS, the Commission adopted Ordinance No. 10-002 on July 14, 2010, amending Ordinance No. 02-001 (collectively with Ordinance No. 02-001, as amended from time to time, the “Ordinance”) which amendment was approved by a majority of the voters voting on such Ordinance at an election held on November 2, 2010; WHEREAS, the Ordinance authorizes the Commission to apply proceeds of the Sales Tax (the “Sales Tax Revenues”) for transportation purposes, including the construction, capital, acquisition, maintenance and operation of streets, roads, highways, including state highways, and for related purposes; WHEREAS, pursuant to Streets and Highways Code Sections 149.7 and 149.8, including Chapter 421 of the California Statutes of 2008 (Assembly Bill 1954) (the “Toll Act”), 83 OHSUSA:766172934.4 the Commission is authorized to set, levy and collect tolls, user fees, or other similar charges, payable for use of high-occupancy toll (“HOT”) lanes and other facilities in the Interstate 15 (referenced in the Toll Act as State Highway Route 15) (the “I-15”) corridor in Riverside County (the “Toll Road”), and to issue one or more series of bonds (the “Toll Revenue Bonds”) pursuant to the terms and conditions of a resolution adopted by a two-thirds vote of the Commission, which bonds may be payable from (i) the proceeds of such tolls (the “Toll Revenues”), (ii) Sales Tax Revenues, (iii) development impact fees, (iv) federal grant funds, and (v) any other source of revenues available to the Commission; WHEREAS, the Toll Act authorizes Toll Revenue Bonds to be issued for the purpose of financing the cost of the Toll Road which the Commission designates will initially consist of the portion of the I-15 between the I-15/Cajalco Road interchange and the I-15/State Route 60 (the “SR 60”) interchange (as more fully defined herein, the “I-15 Express Lanes Project”); WHEREAS, the Commission expects to pay certain expenditures (the “Reimbursement Expenditures”) in connection with the I-15 Express Lanes Project prior to the issuance of indebtedness for the purpose of financing costs associated with the I-15 Express Lanes Project on a long-term basis; WHEREAS, the Commission reasonably expects that debt obligations in an amount not expected to exceed $400,000,000 will be issued and that certain of the proceeds of such debt obligations will be used to reimburse the Reimbursement Expenditures; and NOW, THEREFORE, the Commission declares: Section 1. The Commission finds and determines that the foregoing recitals are true and correct. Section 2. This declaration is made solely for purposes of establishing compliance with the requirements of Section 1.150-2 of the Treasury Regulations. This declaration does not bind the Commission to make any expenditure, incur any indebtedness, or proceed with the I-15 Express Lanes Project. Section 3. The Commission hereby declares its official intent to use proceeds of indebtedness to reimburse itself for Reimbursement Expenditures. Section 4. The custodian of record for this action shall be Clerk of the Board of the Commission at the Riverside County Transportation Commission, 4080 Lemon Street, 3rd Floor, Riverside, CA. Section 5. This Resolution shall take effect immediately upon its adoption and approval. APPROVED AND ADOPTED by the Riverside County Transportation Commission at its meeting on March 8, 2017. 84 OHSUSA:766172934.4 By: Chair ATTEST: By: ______________________________ Clerk of the Board 85 OHSUSA:766172934.4 CERTIFICATE OF THE CLERK OF THE BOARD OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION I, Jennifer Harmon, Clerk of the Board of the Riverside County Transportation Commission (the “Commission”), hereby certify that the foregoing is a full, true and correct copy of a resolution duly adopted at a meeting of the governing board of said Commission duly and regularly held in Riverside, California, on March 8, 2017, of which meeting all of the members of said Commission had due notice. I further certify that I have carefully compared the foregoing copy with the original minutes of said meeting on file and of record in my office; that said copy is a full, true and correct copy of the original resolution adopted at said meeting and entered in said minutes; and that said resolution has not been amended, modified, rescinded or revoked in any manner since the date of its adoption, and the same is now in full force and effect. I further certify that an agenda of said meeting was posted at least 72 hours before said meeting at a location in Riverside, California, freely accessible to the public and a brief general description of the resolution to be adopted at said meeting appeared on said agenda. IN WITNESS WHEREOF, I have executed this certificate hereto as of this date, __________, 2017. By Clerk 86 AGENDA ITEM 6F BLANK Agenda Item 6F  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM:  Budget and Implementation Committee  Aaron Hake, External Affairs Director  Jillian Guizado, Senior Legislative Affairs Analyst  THROUGH: Anne Mayer, Executive Director  SUBJECT: State and Federal Legislative Update    BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION:    This item is for the Commission to:    1) Adopt the following bill positions:  a) AB 351 (Melendez) – Support;  b) AB 91 (Cervantes) – Oppose; and  2) Receive and file an update on state and federal legislation.    BACKGROUND INFORMATION:    State Update    The Legislature has begun its process of hearing proposed legislation.  One of the fastest‐moving  pieces of legislation is AB 28 (Frazier).  This bill would reauthorize National Environmental Policy  Act (NEPA) Assignment, as authorized by memoranda of understanding with the Federal Highway  Administration.  Due to a sunset clause with a January 1, 2017 date, Caltrans is currently  unauthorized to continue performing NEPA Assignment.  AB 28 recently passed unanimously off  the Assembly floor and is currently awaiting committee assignment in the Senate.    Another notable piece of legislation introduced this session is SB 1 (Beall).  This bill is similar to  the bill that was introduced during the Governor’s special session on transportation last session.   Some revisions were made before it was introduced in the 2017‐18 regular session and it has  since been heard by the Senate Transportation and Housing Committee.  The Transportation and  Housing Committee passed the bill, which will now proceed to the Senate Environmental Quality  Committee, Senate Governance and Finance Committee, and Senate Appropriations Committee.   Staff will continue to monitor SB 1 and provide updates as they come.       87 Agenda Item 6F  AB 351 (Melendez) – Staff Recommendation:  Support    AB 351 proposes to bring truck weight fees back to transportation accounts.  AB 351 is similar to  AB 4 (Linder), which was introduced in the last legislative session and received Commission  support.  Since 2011, approximately $900 million of weight fee revenue annually is used to pay  debt service on Proposition 1B bonds, whereas these revenues previously went into the State  Highway Account.  Proposition 1B was a General Obligation bond rather than a revenue bond,  meaning the debt obligation belongs to the General Fund, not special transportation revenues.   Staff is encouraged by the fact that a member of the Commission’s local delegation is  championing the safeguarding of transportation revenue for transportation purposes, a key tenet  of the Commission’s legislative platform.    AB 91 (Cervantes) – Staff Recommendation:  Oppose    This bill would require Caltrans to convert all existing high‐occupancy vehicle (HOV) lanes in  Riverside County to operate only during hours of heavy commuter traffic; during all other times  the lanes would be open to all vehicles, including those with a single occupant.  In addition, any  new HOV lane would be required to operate under the same requirements.  After May 1, 2019,  Caltrans could reinstate the HOV lanes in Riverside County to operate with occupancy  requirements 24 hours a day after reporting to the Transportation Committees the effect the  conversions had on safety and traffic.  This bill specifies these conditions would not apply to  existing toll lanes.    Nearly identical legislation has been introduced in prior legislative sessions that has attempted  to accomplish the same goals in other counties.  These bills and their results include:     AB 210 (Gatto) in 2015/16; vetoed by the Governor   AB 405 (Gatto) in 2013/14; vetoed by the Governor   AB 2200 (Ma) in 2011/12; vetoed by the Governor    In all three of the Governor’s veto messages, he communicated his belief that carpool lanes are  intended to “reduce pollution and maximize use of freeways.”    As prior Assembly Committee on Transportation analyses accurately point out, HOV lanes  constructed using federal funds must not result in new air quality violations or worsen existing  violations.  If the HOV lanes in Riverside County are converted to part‐time, it could result in the  Commission having to repay federal funds or the region having to propose and construct a new  project that would meet or exceed the air quality improvements originally proposed by the HOV  projects.  The committee analysis further points out that part‐time HOV facilities in Northern  California are common due to the region’s dramatic unidirectional peak period traffic patterns;  Southern California has more hours of peak period traffic that is bidirectional.    88 Agenda Item 6F  While it is evident the author’s intentions are to ease congestion for Riverside County residents,  staff believes the risk of the consequences are greater than the potential benefits and, as such,  recommend an oppose position.    Federal Update    Elaine Chao, former U.S. Secretary of Labor and former Deputy Secretary of the U.S. Department  of Transportation (US DOT), has been confirmed as US DOT’s Secretary.  Staff is encouraged by  her prior experience at US DOT.  The remainder of appointed leadership positions at US DOT  remain to be filled; these appointments will have significant bearing on the progress of  Commission projects in the immediate months and years ahead.  89 BLANK AGENDA ITEM 6G BLANK Agenda Item 6G  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM:  Budget and Implementation Committee  Technical Advisory Committee   Grace Alvarez, Planning and Programming Manager  THROUGH: Anne Mayer, Executive Director  SUBJECT: City of Riverside Funding/Reprogramming Request for the Magnolia Avenue  Traffic Signal Interconnect System Project    BUDGET AND IMPLEMENTATION COMMITTEE, TECHNICAL ADVISORY COMMITTEE, AND STAFF  RECOMMENDATION:    This item is for the Commission to:    1) Approve the request by the city of Riverside (Riverside) to increase funding to cover a cost  increase for the Magnolia Avenue traffic signal interconnect system project by  reprogramming a combination of Congestion Mitigation and Air Quality (CMAQ) and/or  available Mobile Source Reduction Committee (MSRC) funds in the total amount of  $637,500;  2) Approve the termination of Agreement No. 14‐72‐127‐00 with Riverside for the CMAQ  funding of the State Route 91 pedestrian/bicycle bridge project;   3) Approve the termination of Agreement No. 14‐65‐108‐00 with the city of Eastvale  (Eastvale) for the MSRC funding of the Hamner Avenue traffic synchronization project;   4) Approve Agreement No. 14‐72‐126‐01, Amendment No. 1 to Agreement No. 14‐72‐126‐ 00, and Agreement No. 14‐65‐110‐01, Amendment No. 1 to Agreement No. 14‐65‐110‐ 00, with Riverside related to the increase in CMAQ and MSRC funding, respectively, for  the Magnolia Avenue traffic signal interconnect system project;  5) Approve Agreement No. 14‐72‐122‐01, Amendment No. 1 to Agreement No. 14‐72‐122‐ 00, with Eastvale for an increase in the percentage of CMAQ funding for the Hamner  Avenue traffic synchronization project;  6) Authorize staff to submit the recommended project funding revisions to the MSRC for  approval;  7) Approve Agreement No. 14‐65‐106‐02, Amendment No. 2 to Agreement No. 14‐65‐106‐ 00, with the MSRC for revised funding of MSRC projects;   8) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute  the agreements on behalf of the Commission; and  9) Authorize staff to submit the recommended actions to the Southern California  Association of Governments (SCAG) for inclusion in the 2017 Federal Transportation  Improvement Program (FTIP).    90 Agenda Item 6G  BACKGROUND INFORMATION:    At its January 8, 2014 meeting, the Commission approved staff recommendations for the 2013   Multi‐Funding Call for Projects, programming approximately $56 million in CMAQ funds to  qualifying projects throughout Riverside County.  Riverside received approval for two projects –  Magnolia Avenue traffic signal interconnect system in the amount of $1,387,500 and the SR‐91  pedestrian/bicycle bridge in the amount of $637,500.  The Commission also approved MSRC  funding for the Magnolia Avenue traffic signal interconnect system project in May 2014.      The Magnolia Avenue traffic signal interconnect system will replace existing outdated copper  interconnect with new fiber optic cable to improve signal synchronization and communications  between Buchanan Street and First Street encompassing 49 signalized intersections and spanning  approximately 10.4 miles.  The improved signal interconnect will provide the following  capabilities: 1) allow Riverside to view Caltrans closed‐circuit television cameras (CCTVs) and its  signal timing plans at Caltrans‐controlled intersections to better address freeway incidents that  detour traffic via city streets; 2) deploy high resolution digital CCTVs and the sharing of video  feeds with the Riverside Police Department for improved incident management; and 3) allow for  signal network expansion and flexibility to address future demands from autonomous vehicles  and/or adaptive signal timing plans that make real‐time signal timing adjustments to optimize  traffic flow.  The updated signal coordination system will improve traffic flow and incident  response and will reduce vehicle emissions.      The Magnolia Avenue traffic signal interconnect system received federal authorization to  proceed with construction on September 20, 2016.  Subsequent to federal funding approval in  September 2016, Riverside proceeded to advertise for construction bids.  The bids received  exceeded the funding available to implement the traffic signal interconnect by $826,000.     The SR‐91 pedestrian/bicycle bridge is a few years from start of preliminary engineering mainly  due to the Marketplace Specific Plan that is underway, as this plan will determine the feasibility  of the pedestrian/bicycle bridge over SR‐91 in downtown Riverside.  Commission staff notified  Riverside staff that the timeframe in which the CMAQ funds were expected to be obligated will  lapse.  No other phases of the project are funded, and the project will not utilize the CMAQ  funding in the timeframe required per the Multi‐Funding Call for Projects and in the agreement.   Therefore, this agreement should be terminated.    In order to address the shortfall on the Magnolia Avenue traffic signal interconnect system  project, Riverside requested the reprogramming of CMAQ funds from the SR‐91  pedestrian/bicycle bridge project, in the amount of $637,500, since the funding obligation  timeframe was about to lapse.      Recently staff noted that Eastvale had cost savings on its Hamner Avenue traffic synchronization  project, which also had CMAQ and MSRC funding.  As a result of the savings, the CMAQ funding  agreement with Eastvale requires the funding plan be revised.  Staff recommends the percentage  of CMAQ funding for the project be increased in an amendment to the funding agreement in  91 Agenda Item 6G  order to claim the maximum CMAQ obligated amount.  As a result, the MSRC funding of $74,625  from the project could be terminated and available to Riverside for its Magnolia Avenue traffic  signal interconnect system project.      Staff recommends funding Riverside’s shortfall through a combination of CMAQ and available  MSRC funds, requiring amendments to the respective agreements.  The local match funding  commitment for the Magnolia Avenue traffic signal interconnect system project will also be  maintained per the project application for the 2013 Multi‐Funding Call for Projects.  Staff will  submit the recommended MSRC funding revisions for the Riverside and Eastvale projects to the  MSRC for approval.    The Technical Advisory Committee (TAC) unanimously supported Riverside’s reprogramming  request at its January 23, 2017 meeting and directed staff to forward its recommendation to the  Committee/Commission for approval.  Staff also supports the TAC recommendation, which will  ensure timely implementation of a transportation control measure (TCM) in the FTIP.  TCM  projects are defined as projects improving traffic flow, decreasing automobile emissions, and  improving air quality and are given priority status in the FTIP.  Per the Environmental Protection  Agency’s Transportation Conformity Rule, any delays in implementing TCM projects would trigger  the SCAG TCM Substitution Policy, requiring the identification of a substitute project to achieve  an equal or better emissions reduction as the initial project.  The substitution process takes  several months and requires approval by SCAG’s Transportation Conformity Working Group.  By  fully funding the city’s Magnolia Avenue traffic signal interconnect system project, the  Commission and the city would not be required to undertake this process.    Financial Impact    CMAQ funds are administered through Caltrans Division of Local Assistance and the Federal  Highway Administration.  Therefore, there is no fiscal impact to the Commission’s budget.  MSRC  funds are pass‐through funds and are included in the Commission’s FY 2016/17 budget.    Financial Information  In Fiscal Year Budget: Yes Year: FY 2016/17 Amount: $74,625  Source of Funds: MSRC Budget Adjustment: No  GL/Project Accounting No.: 106 65 41203  $74,625 (MSRC revenue)  106 65 81301  $74,625 (construction expenditures)  Fiscal Procedures Approved: Date: 02/21/2017    Attachment:  Reprogramming Request from the City of Riverside  92 BLANK Public Works Department City ef Arts &_Innovation December 26, 2016 Ms. Shirley Medina Planning and Programming Director Riverside County Transportation Commission 4080 Lemon Street, 3rd Floor Riverside, CA 92501 fD)~©~O\VJ~~ I~\ DEC 2 7 2016 1.0 RIVERSIDE COUNTY TRANSPORTATION COMMISSION Subject: Project ID: RIV151205 -Magnolia Ave/Market St Signal Interconnect Reprogram Funds Dear Ms. Medina, In January 2014 the Riverside County Transportation Commission (RCTC) approved a $1,387,500 grant for the City of Riverside to install fiber-optic signal interconnect communications line on Magnolia Avenue/Market Street from Buchan Street to First Street (see attached Project Fact Sheet). At the time, the construction of the project was estimated to cost $1.85 million. On November 10, 2016, the City received six bids for the construction of the project. The lowest responsive bid was in the amount of $2,444,538. Currently, the total estimated cost for the construction phase of the project (including construction engineering and contingencies) is $2.676 million. The primary reason for the cost increase is because during the initial project scoping the City anticipated utilizing the existing telephone ducts and conduits to replace copper communication lines with fiber-optic cables. However, the telecommunication company no longer supports shared use of in-ground facilities and as a result it became necessary to provide new conduits for the fiber-optic cables. Due to unanticipated and significant cost increase for the construction phase, the City is requesting the Riverside County Transportation Commission to reprogram $637,500 in federal CMAQ grants from the SR91 Pedestrian/Bicycle Bridge Project (Project ID: RIV151206) to the Magnolia Avenue/Market Street Signal Interconnect Project (Project ID: RIV151205). The SR91 Pedestrian/Bicycle Bridge Project has been on hold pending the completion of the Downtown Specific Plan Update. 0 3900 Main Street• Riverside, CA 92522 •tel 951.826.5341 •fax 951.826.5542 • www.riversideca.gov 93 The City looks forward to implement this 10.4-mile Traffic Signal Synchronization project that will improve traffic flow and air quality. Please refer to the attached Fact-Sheet for additional project information. Thank you for your consideration. Sincerely, ~071/(~ Kris Martinez Public Works Director 94 Magnolia Avenue/Market Street Traffic Signal Synchronization Project Fact-Sheet Background: Magnolia Avenue/Market Street is a four-lane roadway and an important arterial in the City of Riverside (see attached map). It runs east-west and parallels the SR-91 Freeway. A minimum of 18,000 and up to 38,000 vehicles travel on various segments of Magnolia Ave/Market Street, daily. The Magnolia Avenue/Market Street Fiber-Optic Signal Interconnect project is a traffic signal communications project that spans between Buchanan and First Streets, approximately 10.4 miles. The Project encompasses 49 signalized intersections, replacing existing outdated copper interconnect with new fiber optic cable to improve signal synchronization and communications. Main Benefits: • Improve traffic flow. • Reduce vehicle emissions and improve air quality. • Improve incident management, especially when accidents occur on SR-91 and traffic is detoured via Magnolia A venue/Market Street. · • Allow the City to deploy high resolution digital CCTV cameras and the sharing of video feeds with the Riverside Police Department for improved incident management. • Share CCTV roadway monitoring transmissions with the traffic management centers (TMC) at Corona, Moreno Valley (future), Riverside and Caltrans District 8. This will allow real-time adjustments to signal timing when incidents occur. • Allow the cities of Corona and Riverside to share traffic count and speed detection data from ten locations. The data allows the corridor to maintain current signal timing plans and alerts engineers of spikes in traffic or potential incidents that cause freeway motorists to detour onto city streets. • Allow the City to retime the corridor. • Allow for future signal network expansion and flexibility to address future demands from autonomous vehicles and/or adaptive signal timing plans that make real-time signal timing adjustments to optimize traffic flow. 95 ~ MAGNOLIA/MARKET FIBER-OPTIC SIGNAL INTERCONNECT PROJECT 96 AGENDA ITEM 6H BLANK Agenda Item 6H  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commisstion  FROM:  Budget and Implementation Committee  Technical Advisory Committee  Grace Alvarez, Planning and Programming Manager  THROUGH: Anne Mayer, Executive Director  SUBJECT: County of Riverside – Scope of Work Change for Salt Creek Multimodal Urban  Trail – 2013 Call for Projects Awarded Project    BUDGET AND IMPLEMENTATION COMMITTEE, TECHNICAL ADVISORY COMMITTEE, AND STAFF  RECOMMENDATION:    This item is for the Commission to:    1) Approve the scope of work change for the Salt Creek Multimodal Urban Trail through the  cities of Canyon Lake, Menifee, and Hemet;   2) Approve Agreement No. 14‐72‐132‐01, Amendment No. 1 to Agreement   No. 14‐72‐132‐00, with the county of Riverside to reflect the revised scope of work for  Salt Creek Multimodal Urban Trail; and  3) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute  the agreement on behalf of the Commission.    BACKGROUND INFORMATION:    As part of the 2013 Multi‐Funding Call for Projects, the Commission approved the funding of the  county of Riverside’s (County) request for Congestion Mitigation Air Quality (CMAQ) funding for  the Salt Creek Multimodal Urban Trail on January 8, 2014.  The funding approval was $5,090,000  of CMAQ funds for the construction phase of a 7.2‐mile multimodal urban trail along the Salt  Creek Flood Control Channel between the communities of Hemet, Menifee, and Canyon Lake.   The proposed project would build a 16‐foot hard surface Class I bikeway to allow for use by  alternate energy vehicles, flanked by 10 to 12‐foot wide soft surface decomposed granite  pedestrian trail.     Subsequently, in late 2014, the County started the environmental process with Caltrans and,  through the preliminary environmental study submittal, it was determined the project would  impact sensitive habitat, cultural resources, and jurisdictional waters, resulting in considerable  cost increases to cover environmental mitigation costs associated with the cultural impacts,  additional floodplain analysis, right of way acquisition, and installation of pedestrian‐activated  traffic signals at three street crossings.    97 Agenda Item 6H  In order to move forward with the project implementation, the County is proposing to reduce  the original scope of the project from 7.2 miles to 5.2 miles, reducing the 2‐mile length at the  easterly most limits of the project at a location where Domenigoni Parkway in the city of Hemet  has sufficient shoulder width to accommodate bicyclists and pedestrians to allow for continuity  and a connection to the proposed trail along the Salt Creek Channel.  The western segment  between the cities of Menifee and Canyon Lake remains the same.  Additionally, the 16‐foot hard  surface Class I bikeway will be reduced to 14 feet, and the pedestrian/equestrian trail would be  reduced from 10 feet to 5 feet; the shoulder will remain at 2 feet on each side.      The Salt Creek Multimodal Urban Trail is a project that improves air quality and is considered a  transportation control measure (TCM) in the South Coast Air Basin.  The TCM is subject to timely  implementation.  The County stated the project can be completed by 2018, which is the timeline  for completion in the 2017 Federal Transportation Improvement Program.      The Technical Advisory Committee unanimously supported the County’s requested scope of work  changes at its January 23, 2017, meeting and directed staff to forward its recommendation to the  Committee/Commission for approval.  Staff also supports the scope of work changes and will  work with the Southern California Association of Governments to secure the approvals from the  Transportation Conformity Working Group for the revised scope of work for this committed TCM  project.     The request to expand the construction funds to cover construction inspection, construction  environmental monitoring, and environmental habitat impact mitigation is within the allowable  uses of construction funding.  Therefore, no approval action is required.    Financial Impact    CMAQ funds are administered through Caltrans Division of Local Assistance and the Federal  Highway Administration.  Therefore, there is no fiscal impact to the Commission’s budget.    Attachment: Request from Riverside County to Revise Project Scope for Salt Creek Multimodal  Urban Trail    98 99 100 101 102 103 34’ 2’ 16’ 4’ 10’ 2’ 23’ +/- 2’ 14’ 5’ 2’ Typical Section - original Typical Section - modified Existing ground Salt Creek Trail Exhibit C - Trail Typical Section NEV 104 Project Sheet - RIV151210 2017 FTIP (FY 2016/2017 - FY 2021/2022) Federal Approved Cost in Thousands Project ID RIV151210 County: Riverside Version:3 Amendment 0 Agency RIVERSIDE COUNTY System L Route CTC Update 1/5/2016 9:02 AM Begin PM Conform Cat.TCM Committed by grace End PM Air Basin SCAB SCAG Update 4/27/2016 10:18 AM Phase Environmental Document/Pre-design Phase (PA&ED)by Gutierrez Program Code:NCN25 BICYCLE & PEDESTRAIN FACILITIES-NEW RTP ID 3NL04 Scheduled Dates Starting Ending Completion Date:CTIPS ID 20940004153 PAED 12/31/2018 Model No. PS&E(ENG)Conformity Category:Env. Doc. Type EA/NOI ROW TCM Committed Env. Doc. Date 7/1/2017 CON Current Project Status:Year Added Federal Approved (as of 4/27/2016 10:18:49 AM) Change Reason:C/O 2015 Project Description:Project Total Cost: 6,405 IN WESTERN RIVERSIDE COUNTY FOR THE COUNTY OF RIVERSIDE - CONSTRUCTION OF A 7.2 MILE MULTI-MODAL URBAN TRAIL ALONG THE SALT CREEK FLOOD CONTROL CHANNEL BETWEEN THE COMMUNITIES OF HEMET, MENIFEE AND CANYON LAKE. THE MULTI-MODAL TRAIL WILL INCLUDE A 16 FT WIDE CLASS I BIKEWAY AND 12 FT WIDE DECOMPOSED GRANITE PEDESTRIAL TRAIL Fund Type Fiscal Year ENG ROW CON Fund Total 2013/2014 347 347 2014/2015 76 76 2017/2018 892 892 AGENCY 347 76 892 1,315 2017/2018 5,090 5,090 CMAQ 5,090 5,090 Total 347 76 5,982 6,405 COMMENT Amendment Version Comment Type Comment Modified By Modifydate 0 3 main 2015 FTIP - New project in FTIP from RCTC's 2013 Multi-funding Call for Projects. CMAQ PM 2.5 benefits consist of .097 kg/day. grace 12/11/2015 12:48:33 PM 0 3 Status To change modeling info grace 12/11/2015 12:48:33 PM 0 3 tcm 11/24/2015 - Request from RCTC to unlock RIV151210, Salt Creek Multi-Modal Urban Trail to incorporate new project schedule (completion date is delayed from 12/31/2018 to 12/20/2019). Delays are associated to clearing NEPA. grace 12/11/2015 12:48:33 PM Print Date: 1/10/2017 Page: 1 of 1105 BLANK AGENDA ITEM 6I BLANK Agenda Item 6I  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM: Western Riverside County Programs and Projects Committee  Reinland Jones, Toll Technology Manager  THROUGH: Anne Mayer, Executive Director  SUBJECT: Amendment to the 91 Express Lanes Operator Agreement    WESTERN RIVERSIDE COUNTY PROGRAMS AND PROJECTS COMMITTEE AND STAFF  RECOMMENDATION:    This item is for the Commission to:     1) Approve Agreement No. 13‐31‐105‐03, Amendment No. 3 to the 91 Express Lanes  Operator Agreement No. 13‐31‐105‐00 (commonly referred to as the ORCOA), among the  Orange County Transportation Authority (OCTA), the Commission, and Cofiroute USA, LLC  (Cofiroute) to incorporate the joint lane system maintenance agreement for an additional  amount of $1,629,194 and a total amount not to exceed $32,826,193; and  2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute  the amendment on behalf of the Commission.    BACKGROUND INFORMATION:    In May 2013, the Commission approved the ORCOA to facilitate the joint operation of the 91  Express Lanes between the Commission and OCTA through the use of the existing contractor,  Cofiroute.  In November 2016, the Commission approved Amendment No. 1 to reflect a reduction  in total costs due to a reduction in the annual escalation rate and the removal of the customer  assistance patrol.  In January 2017, Amendment No. 2 was approved by the Commission to  incorporate the final joint agreements related to the use and maintenance of the revenue and  account management systems software with Cofiroute and reallocation of funds from operations  to pre‐operations.    Staff requests approval of Amendment No. 3 to the agreement to incorporate a joint lane  maintenance agreement related to the roadside toll system equipment.  The agreement  established the requirement for roadside toll system maintenance upon the commencement of  revenue collection; however, the terms of the maintenance and the cost were not established.   The roadside toll system includes the lane equipment and software used to capture vehicles and  either a corresponding transponder or vehicle plate as they pass through a tolling point for the  purpose of collecting a toll.  OCTA has two tolling points, and the Commission has four tolling  points.     106 Agenda Item 6I  OCTA has an existing lane maintenance agreement with Cofiroute.  In an effort to achieve  economies of scale and in accordance with the intent of the OCTA/RCTC Cooperative Agreement  No. 12‐31‐039‐00 approved by the Commission in July 2010, staff worked with Cofiroute to  structure a joint maintenance agreement that provides the required level of service and a  reduction in cost for both OCTA and the Commission.    The roadside toll systems serve as the foundation for toll collection, and maintenance of the  equipment and software is critical to the success of the 91 Express Lanes.  The lane maintenance  agreement will commence upon opening of the Commission’s extension of the 91 Express Lanes  for revenue collection expiring on June 30, 2021, the current end date of the ORCOA.    Staff and OCTA negotiated a joint maintenance cost of $2,651,196 for the term of the agreement  following the commencement of the Commission’s operations.  The joint maintenance cost is for  regular monitoring and repair of the roadside system.  Cofiroute staff will provide local  monitoring and repair of the system with remote support from the lane system provider, 3M.   The Commission’s share of the annual joint maintenance cost is $1,488,914 over the term of the  Agreement or 56 percent of the total annual joint maintenance cost.  The Commission’s share of  the annual maintenance cost is slightly higher than that of OCTA due to the two additional toll  points as described above.    Staff and OCTA additionally negotiated an annual amount for on site support by 3M not to exceed  $280,560 over the term of the agreement.  This amount is based on a per trip price should 3M  support be required.  The Commission’s share of the on site support is $140,280, or 50 percent  of the total amount.  The on site support amount is being shared equally as it is likely that an on  site visit would result in the performance of an equal amount of work on behalf of OCTA and the  Commission.    A summary of the lane maintenance agreement costs are as follows:     Commission Share Total Agreement  Maintenance Cost $1,488,914 $2,651,196  On‐Site Maintenance Cost        140,280        280,560  Total Amendment No. 3 $1,629,194 $2,931,756    A summary of the OROCA master agreement and related amendments is as follows:     Initial Agreement Amount  $ 34,097,946   Amendment No. 1 – Approved Nov. 2016   (2,900,947)   Amendment No. 2 – Approved Jan. 2017   ‐   Subtotal Revised Agreement Amount   31,196,999  Amendment No. 3 (proposed)   1,629,194   Total Proposed Agreement Amount  $ 32,826,193    107 Agenda Item 6I  Staff requests approval of Amendment No. 3 to the ORCOA to incorporate the lane maintenance  agreement, as described in this staff report.  The lane maintenance agreement cost was included  in the FY 2016/17 budget; therefore, a budget adjustment is not required.     Financial Information  In Fiscal Year Budget: Yes  N/A Year: FY   2016/17  FY 2017/18+ Amount: $      91,444  $1,537,750  Source of Funds: Toll Bonds Operations and Maintenance  Reserve Funds and toll revenues Budget Adjustment: No  N/A  GL/Project Accounting No.: 009199 73305 00000 0000 591 31 73302  Fiscal Procedures Approved: Date: 02/21/2017    Attachment:  ORCOA Amendment No. 13‐31‐105‐03  108 BLANK 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 1 AMENDMENT NO. 3 OCTA AGREEMENT NO. C-3-1529 RCTC AGREEMENT NO. 13-31-105-03 AMONG ORANGE COUNTY TRANSPORTATION AUTHORITY, RIVERSIDE COUNTY TRANSPORTATION COMMISSION AND COFIROUTE USA, LLC. THIS AMENDMENT NO. 3 TO AGREEMENT is entered into this _______ day of ______________, 2017, by and among the Orange County Transportation Authority, a public corporation of the state of California (the “AUTHORITY”); the Riverside County Transportation Commission, a public agency (the “COMMISSION”); and Cofiroute USA, LLC., a Delaware limited liability company (“CONTRACTOR”). The AUTHORITY, the COMMISSION and CONTRACTOR are sometimes individually referred to herein as a “Party” and collectively as the “Parties.” The AUTHORITY and the COMMISSION are sometimes individually referred to herein as an “Agency” and collectively as the “Agencies.” WITNESSETH: WHEREAS, the Parties have entered into that certain three party operating agreement, OCTA Agreement No. C-3-1529, RCTC Agreement No. 13-31-105-00, dated as of May 24, 2013 (the “Operating Agreement”), pursuant to which AUTHORITY and COMMISSION engaged CONTRACTOR to provide management and operational services for the 91 Express Lanes, with the mutual intent of the Agencies of operating said lanes as a single, seamless toll facility from the customer’s perspective, as further detailed herein. 109 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 2 WHEREAS, the Parties have entered into that certain Amendment No. 1 to the Operating Agreement, dated ______, 2016, for the purpose of making certain changes to the services to be completed by CONTRACTOR on behalf of the Agencies. WHEREAS, the Parties have entered into that certain Amendment No. 2 to the Operating Agreement, dated ___________, 2017, for the purpose of incorporating the forms of the new joint software license, maintenance and escrow agreements for the upgraded Revenue and Account Management System (“RAMS” or the “Software”) to be used and maintained for operating the 91 Express Lanes, and to amend the Monthly Lump Sum Price and the separate AUTHORITY and COMMISSION Statement of Work prices to decrease the monthly cost allocated for the joint software license and maintenance agreements, respectively, based on the final negotiated prices for these agreements. WHEREAS, the Parties now desire to amend the Operating Agreement to include a new Statement of Work, to be included as a new Exhibit E, for the provision of maintenance and support for the computing hardware and software systems that comprise the Electronic Toll and Traffic Management (“ETTM”) System, including the software integration points between ETTM lane devices and the RAMS application and subsequent account management/back office system, by the CONTRACTOR, to be jointly funded by the Agencies. Since the COMMISSION has two (2) more toll points than the AUTHORITY to be maintained under the new Statement of Work, COMMISSION shall pay fifty-six percent (56%) of the cost of Regular ETTM Maintenance, and the Agencies shall share equally the cost for On-Site Support, as those terms are defined below. WHEREAS, the AUTHORITY has a separate agreement (“Existing Lane Maintenance Agreement”) with CONTRACTOR for services rendered by CONTRACTOR’s subcontractor, 3M, the developer of the ETTM system (“Lane System Provider”). It is the intent of the AUTHORITY and CONTRACTOR that the Existing Lane Maintenance Agreement shall terminate upon the Actual Opening Date. NOW, THEREFORE, for valuable and adequate consideration, receipt of which is 110 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 3 hereby acknowledged, it is mutually understood and agreed by the AUTHORITY, COMMISSION and CONTRACTOR as follows: 1. Capitalized terms not otherwise defined in this Amendment No. 3 shall have the meanings ascribed to such terms in the Operating Agreement. 2. Article 1, Definitions, of the Operating Agreement is amended to include the following defined term: LANE SYSTEM PROVIDER. As used herein, the term “LANE SYSTEM PROVIDER” shall mean and refer to CONTRACTOR’s subcontractor, 3M, who shall provide services under the ETTM System Maintenance and Support Services Statement of Work. 3. Article 4, Statements of Work, subsection E is added to the Operating Agreement to read as follows: E. From and after the Actual Opening Date, CONTRACTOR shall perform the work necessary to complete, in a manner satisfactory to the AUTHORITY and the COMMISSION, the services and requirements specified herein and set forth in Exhibit E, entitled “ETTM System Maintenance and Support Services Statement of Work”, which is attached to and, by this reference, incorporated in and made a part of this Agreement, including all attachments thereto. Exhibit E sets forth those services of CONTRACTOR required for (i) regular ETTM maintenance services, which includes local monitoring and repair of the system by CONTRACTOR, system administration and management, and remote help desk and trouble resolution services provided by the Lane System Provider for the computing hardware and software systems that comprise the ETTM System, including the software integration points between ETTM lane devices and the RAMS application and subsequent account 111 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 4 management/back office system (“Regular ETTM Maintenance”); and (ii) on-site support services provided by the Lane System Provider on an as- needed basis and other miscellaneous supplies, items or materials requested by the Agencies (“On-Site Support”). The ETTM System Maintenance and Support Services Statement of Work is to be jointly funded by the AUTHORITY and the COMMISSION as set forth in this Agreement. On- Site Support shall not be compensated under this Agreement unless prior written authorization is provided by both Agencies. 4. Article 7, Payment, subsection C(1)(e) shall be added to the Operating Agreement to read as follows: C(1)(e) An amount equal to its share of the fixed monthly fee for Regular ETTM Maintenance rendered to the AUTHORITY by CONTRACTOR under the ETTM System Maintenance and Support Services Statement of Work, plus one-half of the total amount authorized for On-Site Support provided during the relevant billing period. The monthly fee to be charged to the AUTHORITY for Regular ETTM Maintenance shall be based on an annual cost to the AUTHORITY of Two Hundred Sixty Thousand, Nine Hundred Fifty Dollars ($260,950), calculated based on FY 2016/2017 dollars, and subject to escalation in accordance with Article 7(F) of the Agreement, and invoiced in equal monthly installments. Payment by the AUTHORITY for On-Site Support shall not exceed a total sum of Thirty One Thousand, Four Hundred Ninety Five Dollars ($31,495) annually, calculated based on FY 2016/2017 dollars and subject to escalation in accordance with Article 7(F) of the Agreement. 112 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 5 5. Article 7, Payment, subsection C(2)(e) shall be added to the Operating Agreement to read as follows: C(2)(e) An amount equal to its share of the fixed monthly fee for Regular ETTM Maintenance rendered to the COMMISSION by CONTRACTOR under the ETTM System Maintenance and Support Services Statement of Work, plus one-half of the total amount authorized for On-Site Support provided during the relevant billing period. The monthly fee to be charged to the COMMISSION for Regular ETTM Maintenance shall be based on an annual cost to the COMMISSION of Three Hundred Thirty Four Thousand, Two Hundred Eighty Four Dollars ($334,284), calculated based on FY 2016/2017 dollars and subject to escalation in accordance with Article 7(F) of the Agreement, and invoiced in equal monthly installments. Payment by the COMMISSION for On-Site Support shall not exceed a total sum of Thirty One Thousand, Four Hundred Ninety Five Dollars ($31,495) annually, calculated based on FY 2016/2017 dollars and subject to escalation in accordance with Article 7(F) of the Agreement. 6. Article 7, Payment, subsection J(5) shall be added to the Operating Agreement to read as follows: J(5)(a) AUTHORITY’s maximum cumulative payment obligation, hereunder, for the ETTM System Maintenance and Support Services Statement of Work, for the period commencing on the Actual Opening Date through June 30, 2021, shall not exceed the amount of One Million, One Hundred Sixty Two Thousand, Two Hundred Eighty Two Dollars ($1,162,282) for Regular ETTM Maintenance, and One Hundred Forty Thousand, Two Hundred Eighty Dollars ($140,280) for On-Site Support, for a total not to exceed amount of One Million, Three Hundred Two 113 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 6 Thousand, Five Hundred Sixty Two Dollars ($1,302,562), which shall include all amounts payable to CONTRACTOR for its and the Lane System Provider’s performance of the ETTM System Maintenance and Support Services Statement of Work, and for all subcontracts, leases, materials and costs arising from, or due to termination of, this Agreement. J(5)(b) COMMISSION’s maximum cumulative payment obligation, hereunder, for the ETTM System Maintenance and Support Services Statement of Work, for the period commencing on the Actual Opening Date through June 30, 2021, shall not exceed the amount of One Million, Four Hundred Eighty Eight Thousand, Nine Hundred Fourteen Dollars ($1,488,914) for Regular ETTM Maintenance, and One Hundred Forty Thousand, Two Hundred Eighty Dollars ($140,280) for On-Site Support, for a total not to exceed amount of One Million, Three Hundred Seventy Nine Thousand, Nine Hundred Ninety One Dollars ($1,629,194), which shall include all amounts payable to CONTRACTOR for its and the Lane System Provider’s performance of the ETTM System Maintenance and Support Services Statement of Work, and for all subcontracts, leases, materials and costs arising from, or due to termination of, this Agreement. 7. Exhibit E and Exhibit E-1 are hereby added as exhibits to the Operating Agreement and are incorporated herein by reference. 8. Notwithstanding any other provision of the Operating Agreement, the Agencies, or either of them, shall have the right to terminate the ETTM System Maintenance and Support Services Statement of Work, in whole or in part, and the provision of service thereunder for convenience and without liability upon providing CONTRACTOR sixty (60) days advanced notice of such termination. If only one Agency terminates said services, the non-terminating Agency and CONTRACTOR shall amend the scope and terms of payment to account for such 114 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 7 termination. 9. As of the Actual Opening Date, the Existing Lane Maintenance Agreement shall automatically terminate. 10. Reference in this Amendment No. 3 to the Lane System Provider shall not create any contractual relation between the Agencies and the Lane System Provider or any other subconsultant(s) of CONTRACTOR. CONTRACTOR shall be as fully responsible to the Agencies for the acts and omissions of the Lane System Provider as it is for the acts and omissions of persons directly employed by CONTRACTOR. 11. This instrument may be executed in two or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument. 12. Except as amended by this Amendment No. 3, all provisions of the Operating Agreement, as previously amended, including without limitation the indemnity and insurance provisions, shall remain in full force and effect and shall govern the actions of the parties under this Amendment No. 3. [Signatures on following page] 115 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 8 SIGNATURE PAGE TO AMENDMENT NO. 3 TO OCTA AGREEMENT NO. C-3-1529 RCTC AGREEMENT NO. 13-31-105-01 AMONG ORANGE COUNTY TRANSPORTATION AUTHORITY, RIVERSIDE COUNTY TRANSPORTATION COMMISSION AND COFIROUTE USA, LLC. RIVERSIDE COUNTY ORANGE COUNTY TRANSPORTATION COMMISSION TRANSPORTATION AUTHORITY By: By: _______________________ Its: ________________________ Its: _______________________ APPROVED AS TO FORM: APPROVED AS TO FORM: BEST BEST & KRIEGER LLP By: ____________________________ By: _______________________ Counsel to the Riverside General Counsel to Orange County Transportation Commission County Transportation Authority COFIROUTE USA, LLC By: Gary L. Hausdorfer Chairman and Chief Executive Officer 116 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 E-1 EXHIBIT E ETTM SYSTEM MAINTENANCE AND SUPPORT SERVICES STATEMENT OF WORK [Attached behind this page] 117 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 E-2 91 Express Lanes Electronic Toll and Traffic Management System Maintenance and Support A. OBJECTIVE It is a necessary system management practice to have pre-arranged access to qualified technical professionals with the knowledge and ability to sustain a mission critical system such as the 91 Express Lanes Electronic Toll and Traffic Management System (ETTM). As used herein, Cofiroute refers to CONTRACTOR, and 3M refers to Lane System Provider, as those terms are used in the Agreement. B. SCOPE - REGULAR ETTM MAINTENANCE Regular ETTM Maintenance shall include the following. 1 General 1.1. Services for OCTA shall cover system level support for all computer systems, devices and software supplied under the original bill of materials of the original OCTA ETTM project (2003) and that which was otherwise supplied in the course of repairing, replacing, enhancing or adding to the OCTA ETTM system through past and future agreements or purchases with 3M, or that which was acquired through 3M, Cofiroute or OCTA under the warranty conditions of an original equipment manufacturer’s product warranty for product supplied or acquired as part and integrated by 3M as part of the ETTM system. All aforementioned equipment is the property of OCTA and as such, OCTA or its contracted operator Cofiroute, retains responsibility for hardware maintenance of such equipment. 1.2. Services for RCTC shall cover system level support for all computer systems, devices and software supplied under the original bill of materials under the RCTC Systems Integration and Implementation Agreement, or that which was acquired through 3M, Cofiroute or RCTC under warranty conditions of an original equipment manufacturer’s product warranty for product supplied or acquired as part and integrated by 3M as part of the ETTM system. All aforementioned equipment is the property of RCTC and as such, RCTC or its contracted operator Cofiroute, retains responsibility for hardware maintenance of such equipment. 1.3 This Statement of Work does not supersede the responsibilities identified in the ORCOA Exhibit A – Joint Statement of Work. Those responsibilities shall remain as part of Exhibit A. Examples of such services include but are not limited to computer and device maintenance such as routine cleaning and calibration and cabling between devices and their host controllers. 1.3.Cofiroute’s services under this Statement of Work shall primarily involve system administration and management, and help desk and trouble resolution services for the computing hardware and software systems that comprise the ETTM including the software integration points between ETTM lane devices and the 91 Express Lanes’ RAMS application 118 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 E-3 and subsequent account management/back office system. 2 Staffing, Schedule, and Commitment Requirements 2.1. Cofiroute shall supply two qualified ETTM support engineers, On-site Support Technician and On-Site Data Base Administrator, on-site at the 91 Express Lanes main business office located at 180 N. Riverview Dr., Anaheim, CA 92808. The engineers shall lead and carry out ETTM system support activities, supported by other Cofiroute technical staff per the terms of this agreement and at the request of OCTA or RCTC. 2.2. OCTA or RCTC has the right to request replacement of on-site engineer(s) if the assigned engineer(s) do not sufficiently demonstrate an understanding of the system and cannot capably perform the maintenance activities after a 6 to 8-month period on the job. 3 Operational Maintenance and Support Requirements 3.1. System Monitoring and Reporting 3.1.1. Cofiroute shall conduct routine system administrator-type monitoring of the ETTM network to ensure normal baseline operations are experienced on the various computing platforms, operating systems and software, including databases. 3.1.2. Cofiroute shall conduct an analysis of system, database and network performance when performance deviates significantly from baseline operation. 3.1.3. Cofiroute shall perform tuning to maintain performance or resolve performance issues of system, database and network assets. 3.1.4. Cofiroute shall produce a monthly ETTM System Health Report of the OCTA ETTM System and submit the report to OCTA. The report shall provide OCTA a view of the system’s operation including downtime statistics by subsystem, an accounting of system health issues over the reporting period, and conformance to the key performance indicators identified in attachment E-1 of this scope of work. - This report shall be produced each month end and submitted to OCTA no later than the 12th business day of the following month. 3.1.5 Cofiroute shall produce a monthly ETTM System Health Report of the RCTC ETTM System and submit the report to RCTC. The report shall provide RCTC a view of the system’s operation including downtime statistics by subsystem, an accounting of system health issues over the reporting period, and conformance to the key performance indicators identified in attachment E-1of this scope of work. This report shall be produced each month end and submitted to RCTC no later than the 12th business day of the following month. 3.1.6. Cofiroute shall produce a daily System Performance Report of the OCTA ETTM System and submit to OCTA. The report shall provide OCTA a snapshot on how well the system is performing over a 24-hour basis. The report shall provide the total transaction count by lane created in the ETTM system and an accuracy percentage. 119 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 E-4 3.1.7 Cofiroute shall produce a daily System Performance Report of the RCTC ETTM System and submit to RCTC. The report shall provide RCTC a snapshot on how well the system is performing over a 24-hour basis. The report shall provide the total transaction count by lane created in the ETTM system and an accuracy percentage. 3.1.8 Cofiroute shall produce a Joint Transactions and System Performance Report of the RCTC and OCTA ETTM Systems and submit to RCTC and OCTA. The report shall provide RCTC a snapshot on how well the system is performing and count of joint transactions over a 24-hour basis. The report shall provide the total transaction count by lane created in the ETTM system and an accuracy percentage. 3.2. Technical Support and Analysis Services 3.2.1. Question and Answer support via on-site engineer or Cofiroute senior support by phone and email during the hours of 8:00 to 17:00 PST Monday through Friday, except holidays, with response within two (2) hours of request. 3.2.2. Problem resolution, with first response due within two (2) hours of request for revenue critical applications and within 4 hours for non- revenue critical applications. 3.2.3. Perform database and log investigation on a variety of issues that arise in the course of 91 Express Lanes business relating to transaction processing, such as system integration with the RAMS application and subsequent account management/back office system or in researching issues raised through the Interoperability process. 3.3. Maintenance of Documentation and Ghost Images of Computers 3.3.1. Any changes made to system and subsystems which out-dates the system documentation shall require updates be made to the documentation, with notices going to appropriate Agency personnel/representative for review and acceptance. 3.3.2. Complete Ghost image of appropriate systems and subsystems by on-site support engineer when a material change has occurred rendering the previous Ghost images as outdated. 4. Identification, Negotiation and Pricing of Enhancements, Modifications and Repairs 4.1 Cofiroute and OCTA/RCTC shall engage in a Change/Task Order process to schedule and process system modifications and enhancements as agreed to between OCTA and/or RCTC and Cofiroute. 4.2 Cofiroute shall propose hourly rates for its resources to be used to set a budget for each requested change/task order. 4.3Cofiroute shall meet telephonically or in person with OCTA and RCTC personnel/representatives on a bi-weekly basis to discuss system issues, proposed enhancements, status of approved enhancements under construction, and receive requests for new modifications and enhancements desired by OCTA and/or RCTC. 4.4 Cofiroute shall analyze requests for modifications and enhancements to ETTM systems and 120 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 E-5 its interfaces. 4.5 Cofiroute shall evaluate, estimate and present a plan for requested enhancements to OCTA and/or RCTC. Each task order shall have a proposed budget, start and completion date to which the team shall manage. 4.6. At OCTA or RCTC’s request, Cofiroute will provide quotes for repairs of hardware manufactured by 3M or its subsidiaries. 4.7 Agreed upon Change/Task Orders will require funding approval by the requesting Agency, or by both Agencies if the Change/Task Order covers work for the benefit of both Agencies, and are not part of Regular ETTM Maintenance. 5 Terms 5.1 Cofiroute shall produce a list of contacts engaged in the performance of this Statement of Work and the mechanism to contact them. 5.2 OCTA and RCTC shall produce a list of staff/representatives authorized to engage Cofiroute in Maintenance requests and specifically will identify OCTA and RCTCs Project Manager. 5.3 Cofiroute shall not knowingly initiate work on any Repair task that would result in the cumulative costs incurred by OCTA or RCTC under this Statement of Work exceeding the fixed price, without the written authorization of OCTA and/or RCTC’s Project Managers. Such authorization shall reference the total estimated cost of the task and a funding plan for any additional funds required to perform the additional task(s). 5.4 Any unintended, adverse effects to the operations of the OCTA or RCTC ETTM systems or established interfaces that results from work performed by Cofiroute under this Agreement are the responsibility of Cofiroute to correct and repair. The time spent in any such corrective activity shall be at no cost to OCTA or RCTC. 6 Maintenance Administration 6.1 Cofiroute shall appoint a Contract Manager to work with an OCTA and RCTC’s Project Managers to manage the work addressed under this Statement of Work. 6.2 Cofiroute shall maintain a help desk system to track OCTA and RCTC work orders as a result of the execution of this agreement. Cofiroute shall report on status of helpdesk tickets and work orders on a monthly basis. 6.3 Cofiroute, will maintain responsibility for all patron safety and Management of Traffic, lane closures, which might be required under this contract. 6.4 Cofiroute, will maintain responsibility for all spares inventory, and replacement of any in- lane hardware equipment due to malfunction of that equipment requiring a replacement from spares inventory, or tuning of such in-lane equipment. 121 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 E-6 7 Remote Access, Security, and Restrictions 7.1 OCTA and RCTC shall provide Cofiroute and 3M with remote access to the installed equipment per OCTA and RCTC’s specifications. Access will be controlled by OCTA and RCTC to maintain the integrity of the network and computing environment. Virtual Private Network (“VPN”) access is required for the support outlined in this agreement and shall be provided by OCTA and RCTC. Any additional equipment and costs required to provide this access is the responsibility of OCTA and RCTC. Cofiroute and 3M shall be responsible for the costs associated with this capability at their respective facilities. OCTA and RCTC shall be responsible for any costs associated with this capability at the 91 Express Lanes facility and any telecommunication costs or fees. 7.2 During the term of this Agreement and any extension thereof, OCTA and RCTC shall make available remote access to the production system and database for purposes of performing routine system diagnostics and maintenance. Cofiroute shall keep current a maintenance log describing the subsystems affected, and the results of the maintenance. A copy of the log shall be furnished to OCTA and RCTC on a monthly basis, or more frequently if requested. OCTA and RCTC acknowledge that specific permission is not required for routine system diagnostics and maintenance. However, Cofiroute shall provide OCTA a n d R C T C reasonable advanced notice, schedule and/or plan of maintenance activities whenever possible. 7.3 The remote capabilities prescribed herein are to be used for the sole purpose of providing the services described. Cofiroute and 3M may also be granted access for more extensive maintenance of system applications. It is the responsibility of Cofiroute to present any such request to OCTA and RCTC’s Project Managers, and such access shall be coordinated with OCTA and RCTC’s system operator. OCTA and RCTC’s Project Managers will approve each proposed access request on its merits, including stipulations if required. C. SCOPE - ON-SITE SUPPORT On-Site Support, if authorized by the Agencies, may include the following: In addition to on-site presence of qualified support staff, the Agencies may request to have 3M qualified personnel conduct up to 2 trips per year to the 91 Express Lanes for onsite evaluation, performance monitoring, and provide onsite presence for any questions, trouble shoot problems that cannot be resolved remotely, or minor training updates necessary. Standard tasks normally reserved for these trips, such as Ghost image generation for modified system, still must be achieved. Written advance approval by both Agencies is required for any such services, and costs may not exceed the amounts allocated under the Agreement for On-Site Support. If an additional trip is requested by OCTA and/or RCTC a Change Order as covered in below in Modifications and Enhancements – Change/Task Order Based. Travel and Expense (T&E) shall be invoiced to OCTA and/or RCTC at cost after the completion of each trip. Other miscellaneous costs included in the annual allocation for On-Site Support include purchase of supplies, materials and equipment authorized in writing by the Agencies. 122 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 E-7 EXHIBIT E-1 ORCOA OCTA RCTC CUSA Operating Agreement ATTACHMENT 123 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 E-8 KPI These KPI apply only to the maintenance of the ETTM Lane System maintenance and will not have impact on the ORCOA agreement. KPI KPI Description Minimum Standard Notes 1 ETTM Toll System Availability Per Toll Point. Equal to or greater than 99% overall system operational up-time excluding scheduled maintenance, on a 24 hour, seven days a week basis during the month. Availability measured on a monthly basis and averaged for each twelve (12)-month period. 99.00% ETTM Toll System Availability measurement shall include the entire Toll Point, which includes Toll System equipment in-lane. I.E. if the laser stops operating, the loop is available and continues to maintain systems operations, Toll System overall operational uptime availability measure will not be impacted. The OCTA systems are near or at end of life and require a hardware refresh; accordingly, the Minimum Standard UpTime criteria impacting measurement reflects these concerns. Up Time measure is subject to and dependent upon and subject to availability of spares being stored on site by the Agencies. Time waiting for lifts and lane closures will not be considered as downtime. 2 Transaction integrity The lane system will capture and forward and send for processing 97% of all vehicles which pass through each Toll Zone. 97% This measurement is taken before RAMS begins processing (building trips, dismissing transactions, etc.) and is determined using various available data sources. This may be achieved by using the data logger as the primary source of data. Other data such as PeMS may be used as supporting data. 124 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 17336.02109\29570678.4 E-9 3 Measured Accuracy Rate/Image Capture 98% Capture human readable rear license plate images where both the plate number, issuing jurisdiction, and type are visible and the US state of registration is discernible. 98% Calculation per SIIC contract & OCTA previous upgrade: 1. The ETTM system gives a Transponder ID and a "correct" image1 2. No transponder ID, but the ETTM system gives a "correct" image 3. No "correct" image2, but Transponder ID is given by the ETTM system 4. No image at all, no Transponder ID 5. Image and/or Transponder ID present but cannot be used due to insufficient quality. The Measured Accuracy Rate shall be calculated for any Toll Period (day, week, month, year) for a lane, a direction or for the system as a whole, in accordance with the following formula: Sum of Case 1 + Case 2 + Case 3 divided by the number of counted vehicles. Subject to: Road being conducive to proper use of the equipment. Toll Point The equipment needed for collecting toll transactions in lane. Correct Image A "correct" image is an image of the rear of a vehicle including the area where the license plate is normally placed; vehicles may have readable license plate, no license plate, partially or totally masked license plate, and license plates that are obscured by natural light or climatic conditions which are outside of the subsystem specification or warranty. No Correct Image A "no correct" image is an image which does not include the area where the license plate is normally placed. 125 BLANK AGENDA ITEM 6J BLANK Agenda Item 6J  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM: Western Riverside County Programs and Projects Committee  Alex Menor, Capital Projects Manager  THROUGH: Anne Mayer, Executive Director  SUBJECT: Amendment with Jacobs Engineering Group, Inc. for the Mid County Parkway  Project    WESTERN RIVERSIDE COUNTY PROGRAMS AND PROJECTS COMMITTEE AND STAFF  RECOMMENDATION:    This item is for the Commission to:   1) Approve Agreement No. 04‐31‐018‐12, Amendment No. 12 to Agreement No. 04‐31‐018,  with Jacobs Engineering Group, Inc. (Jacobs) to continue to perform Phase III post  environmental impact report/environmental impact statement (EIR/EIS) closeout tasks  through the permitting process, conduct work to implement required mitigation  measures, and respond to requests for information and provide non‐legal technical support  to the Commission and its legal counsel for the Mid County Parkway (MCP) project for an  additional amount of $2,595,098, plus a contingency amount of $259,510, for a total  additional amount of $2,854,608, resulting in a total amount not to exceed $49,852,025;  2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute  the agreement on behalf of the Commission; and  3) Authorize the Executive Director or designee to approve the use of the contingency  amount as may be required for these services.    BACKGROUND INFORMATION:    The MCP project has been under development by the Commission since 2002.  The purpose of  the MCP project is to provide a transportation facility that would effectively and efficiently  accommodate regional west‐east movement of people, goods, and services between and  through the cities of Perris (Perris) and San Jacinto (San Jacinto).    The Commission is the project proponent and the lead agency under the California Environmental  Quality Act (CEQA) and has adopted guidelines for implementing the mitigation required by CEQA  and the National Environmental Policy Act (NEPA).  The Federal Highway Administration (FHWA)  is the lead agency under NEPA, with Caltrans acting as its agent and providing oversight for the  NEPA process.     126 Agenda Item 6J  In April 2015, the Commission adopted Resolution No. 15‐006 in order to certify the final EIR  (FEIR), adopt findings pursuant to CEQA, adopt a mitigation monitoring and reporting program,  adopt a statement of overriding considerations, and approve the MCP project.  The FEIR/final EIS  (FEIS) has been approved by the Commission, FHWA, and Caltrans.  The Final Environmental  Document (ED) under NEPA/CEQA was approved on April 15, 2015.  The Project Approval (PA)/ED  phase of the MCP project was completed with a Record of Decision approved on August 17, 2015.      After approval of the FEIR/FEIS, legal challenges were filed against both the CEQA document and  the NEPA document, as previously reported to the Commission.     Contract Amendments    At its December 13, 2003 meeting, the Commission approved Agreement No. 04‐31‐018 with  Jacobs for Phase I work for the development of the Project Study Report/Project Development  Support (PSR/PDS) and preliminary phases of the PA/ED in an amount not to exceed $5,030,501.  The original MCP project was 32 miles in length between Interstate 15 south of Cajalco Road in  the city of Corona (Corona) and State Route 79 in San Jacinto.    At its January 12, 2005 meeting, the Commission approved Amendment No. 1 to the agreement  with Jacobs for Phase II of the project and development and completion of the preliminary  engineering and ED, in an amount not to exceed $26,134,384.  This amendment brought the total  authorization for Phase I and Phase II of the MCP project to $31,164,885.    Between its November 2005 meeting and April 2014 meeting, the Commission approved  Amendment Nos. 2 through 8 to perform studies and design support for the completion of the  FEIR/FEIS and project report for the MCP project. Amendment No. 5 revised the MCP project  limits between I‐215 in Perris and SR‐79 in San Jacinto. The aggregate amount of these  amendments resulted in a total authorization amount not to exceed $45,511,717 through  Amendment No. 8 and completion of Phase II.    At its April 8, 2015 meeting, the Commission approved Amendment No. 9 to the agreement with  Jacobs to perform Phase III post EIR/EIS closeout tasks through the permitting process and  provide non‐legal assistance for Commission counsel as requested for the MCP project for an  additional amount of $1,350,693, plus contingency of $135,007.  This brought the total contract  authorization for Phase I, II, and Phase III of the MCP project to $46,997,417.    Subsequent Amendments No. 10 and No. 11 with Jacobs did not increase contract authorization.    Prior to beginning construction on any portion of the MCP project, Phase III post EIR/EIS closeout  tasks, including permitting and compliance with mitigation measures stipulated in the final  EIR/EIS for the MCP project, must be completed.   Therefore, the Phase III post EIR/EIS closeout  remaining tasks and additional scope of work consist of the following:    127 Agenda Item 6J   FHWA requirements:  Provide support for the cost evaluation report and financial plan as  part of the major project deliverables requirements;   U.S. Army Corps of Engineers requirements:  Obtain approval for Section 404 permitting  requirements and approval of Compensatory Mitigation Plan;   State requirements:  Incorporate new design requirements from 2012 Highway Design  Manual change to current 2015 Highway Design Manual updates;    State Historic Preservation Office requirements:  Pursuant to the memorandum of  agreement, mitigation requirements for historic properties required the collection of  protein residue analysis and preparation of a cultural landscape study.  Recently, in  cooperation with Caltrans, FHWA, and the tribes, the Commission has been able to obtain  a more well‐defined scope of this landscape study;     United States Fish and Wildlife Service (USFWS) requirements:  Obtain mitigation  properties in compliance with environmental mitigation requirements under the Multiple  Species Habitat Conservation Plan (MSHCP);   Preparation of the revised Determination of Biological Equivalent or Superior  Preservation to document final compliance with the Western Riverside County Regional  Conservation Authority (RCA) MSHCP; and   Other mitigation support: California Department of Fish and Wildlife (CDFW) Section 1600  permitting and Regional Water Quality Control Board Section 401 permitting  requirements.    Jacobs will continue to provide engineering support to respond to public requests for  information, as well as coordination with USACE, USFWS, CDFW, and RCA on identification,  acquisition, and transfer of mitigation properties to RCA under the MSHCP.  Jacobs will also  provide non‐legal technical support to the Commission for the current legal challenges to the  environmental approvals of the MCP project and provide traffic engineering, hydraulic analysis,  geotechnical services, surveying, and cost estimating for right of way acquisition and design  phases.    Jacobs submitted a cost estimate of $2,595,098 to complete the remaining closeout tasks and  the additional scope of work, which staff determined to be fair and reasonable.  Accordingly, staff  recommends Commission approval of Amendment No. 12 with Jacobs for an additional amount  of $2,595,098, plus a contingency amount of $259,510, for a total additional amount of  $2,854,608, resulting in a total amount not to exceed $49,852,025.  There are sufficient funds in  the FY 2016/17 budget to continue work on the closeout tasks and additional scope of work, and  a budget amendment is not required.                 128 Agenda Item 6J  The following is a summary of the agreement and related amendments:    Date Amount Contract  Amount Description Original 12/13/2003 5,030,501$       5,030,501$          Phase I work for preparation of PSR/PDS and  preliminary phases of PA/ED Amendment No. 1 1/12/2005 26,134,384       20,168,608          Phase II work for preparation of PA/ED Amendment  No. 2 11/9/2005 4,845,385         4,845,385            Phase II additional work related to three new  alternative alignments Amendment  No. 3*N/A  N/A 3,563,117            Phase II additional work for geometric approval  drawings and cultural investigation Amendment  No. 4* N/A N/A 2,402,659            Phase II additional work for rescoping of project  for re‐evaluation Amendment No. 5 9/8/2010 7,033,592         7,033,592            Phase II additional work for Revised Draft  EIR/Supplemental Draft  EIS Amendment  No. 6**N/A N/A ‐                             Term  extension through December 31, 2016 Amendment  No. 7 4/9/2014 2,467,855         2,243,505            Phase II additional work for Final Revised EIR  (REIR)/Supplemental EIS (SEIS) Amendment  No. 8* N/A 224,350                Phase II additional work for Final REIR/SEIS and  term extension Amendment No. 9 4/8/2015 1,485,700         1,350,693            Phase III post PA/ED mitigation work Amendment  No. 10** N/A N/A ‐                             Consultant hourly rate change Amendment  No. 11*N/A N/A 135,007                 Phase III additional post PA/ED mitigation work  and time extension  Subtotal 46,997,417       46,997,417            Amendment No. 12  (proposed)2,854,608         2,595,098             Phase III additional work to complete post  PA/ED mitigation work  Totals  $    49,852,025   $       49,592,515   * Funded with contingency funds **No  cost amendment Commission Authorization,  including Contingency     Financial Information  In Fiscal Year Budget: Yes  N/A Year: FY 2016/17  FY 2017/18+ Amount: $595,000  2,000,098  Source of Funds: TUMF CETAP, 2009 Measure A Western  County New Corridors Budget Adjustment: No  N/A  GL/Project Accounting No.: 002302 81101 210 73 81101  612302 81101 261 31 81101  Fiscal Procedures Approved: Date: 02/22/2017    Attachments:  1) MCP Project Map  2) Draft Amendment  129 939E EXH Preferred Alt.dgn 8/7/2014 9:08:28 AMATTACHMENT 1130 BLANK 17336.01100\29496573.1 Agreement No. 04-31-018-012 AMENDMENT NO. 12 TO PROFESSIONAL SERVICES AGREEMENT WITH FEDERAL FUNDING/ASSISTANCE MID COUNTY PARKWAY PROJECT AGREEMENT FOR PROFESSIONAL AND ENGINEERING SERVICES 1. PARTIES AND DATE This Amendment No. 12 to the Agreement for Professional Engineering and Environmental Services is made and entered into as of ___, 2017, by and between the RIVERSIDE COUNTY TRANSPORTATION COMMISSION (“Commission”) and JACOBS ENGINEERING GROUP INC. (“Consultant”), a Delaware corporation. 2. RECITALS 2.1 The Commission and Jacobs Civil, Inc. have entered into Agreement No. 04-31-018-00 (“Master Agreement”), dated February 3, 2004, for the purpose of providing professional engineering and environmental services in connection with the Mid County Parkway Project (“Project”). 2.2 The Commission and Jacobs Civil, Inc. have entered into an Amendment No. 1 to the Master Agreement, dated May 6, 2005, for the purpose of providing for additional compensation in order to include tasks required to complete Phase 2 activities for the Project, which included the development and completion of the Project Report and Environmental Document. 2.3 The Commission and Jacobs Civil, Inc. have entered into an Amendment No. 2 to the Master Agreement, dated January 11, 2006, for the purpose of providing additional compensation in order to include three (3) new alternative alignments identified during the Value Analysis Study process required as part of the Phase 2 Project activities. 2.4 The Commission and Jacobs Civil, Inc. have entered into an Amendment No. 3 to the Master Agreement, dated November 14, 2007, for the purpose of revising the existing indemnification language in the Master Agreement given recently adopted California Civil Code Section 2782.8 as it relates to design professionals, and providing additional compensation in order to increase the Scope of Services, to include an additional Scope of Services, and to provide additional compensation as follows: A. To authorize compensation for cultural investigation as detailed in Task 4 for the not to exceed amount of $499,997.00; and ATTACHMENT 2 131 2 17336.01100\29496573.1 B. To authorize compensation for Geometric Drawings as detailed in Task 6 for the not to exceed amount of $2,895,116.00; and C. To authorize additional compensation in the amount of $168,004.00 to Jacobs Civil, Inc. for services to be provided by its subconsultant, LSA. This additional authorization is being made to adjust the prior use of a multiple that was understated in error. Jacobs Civil, Inc, following the discovery and application of the correct multiplier, has compensated LSA at the correct rate. This authorization of additional compensation is being made to address the resulting shortfall that resulted from the accelerated work-off of allotted funds as a result of the error. 2.5 The Commission and Jacobs Civil, Inc. have entered into an Amendment No. 4 to the Master Agreement, dated January 1, 2010, for the purpose of extending the term and providing additional compensation in order to include additional Services required to complete the Project, including Services required to supplement and/or revise the engineering and environmental technical studies for the modified Mid County Parkway Project, coordinate and review the technical documents with agencies, reassess impacts, and release a Re-circulated Draft EIR/Supplemental Draft EIS for public review and comment, as further set forth in the revised versions of the Scope of Services for Task 1 through Task 7. 2.6 Consultant, the parent company of Jacobs Civil, Inc., and Jacobs Civil, Inc., have entered that certain Assignment and Assumption Agreement, dated May 31, 2010, for the assignment to and assumption of all rights, duties and obligations of Jacobs Civil, Inc. in the Master Agreement, as amended by Amendment Nos. 1 through 4, by Consultant. All references to “Consultant” in the Master Agreement, as heretofore amended, shall be interpreted as referring to Jacobs Engineering Group Inc. 2.7 The Commission and the Consultant have entered into an Amendment No. 5 to the Master Agreement, dated November 16, 2010, for the purpose of extending the term of the Master Agreement and to amend the Master Agreement in order to include additional Services required to complete the Project, including the revision of the environmental technical reports, development of a Re-circulated Draft EIR/Supplemental Draft EIS environmental document, modification of the engineering design in support of the Project Report and conduct of another series of public meetings/hearings for public review and comment, and to provide additional compensation therefor. 132 3 17336.01100\29496573.1 2.8 The Commission and the Consultant have entered into an Amendment No. 6 to the Master Agreement, dated December 31, 2012, for the purpose of extending the term of the Master Agreement. 2.9 The Commission and the Consultant have entered into an Amendment No. 7 to the Master Agreement, dated June 23, 2014, for the purpose of performing additional studies and design support for the completion of the Final Re-circulated Environmental Impact Report/Supplemental Environmental Impact Statement and Project Report for the Project. 2.10 The Commission and the Consultant have entered into an Amendment No. 8 to the Master Agreement, dated March 24, 2015 for the purpose of extending the term and releasing contingency. 2.11 The Commission and the Consultant have entered into an Amendment No. 9 to the Master Agreement, dated June 1, 2015, for the purpose of revising the Scope of Services and providing additional compensation for the close out of the PA/ED phase and to transition the project to Design and Right of Way (“ROW”) phases. 2.12 The Commission and the Consultant have entered into an Amendment No. 10 to the Master Agreement, dated July 25, 2016, for the purpose of modifying the Consultant’s Range of Hourly Rates 2.13 The Commission and the Consultant have entered into an Amendment No. 11 to the Master Agreement, dated XXX, for the purpose of providing funding for additional Services performed in relation to Amendment No. 9. The Amendment No. 9 Scope of Services included, but was not limited to, non-legal technical support for the Commission, responding to requests for information, coordinating with resource agencies on acquisition of properties for mitigation, additional engineering and cost estimating required to bring the Project to the ROW and PS&E Phases. Funding for Amendment No. 9 was based on an assumed conclusion date for these Services in June 2016. The Commission required continuation of the foregoing Services from July 2016 to December 2016. 2.14 The parties now desire to amend the Master Agreement in order to extend the term of the Master Agreement and to provide additional compensation for Services included in Exhibit “A” attached to this amendment. 3. TERMS 3.1 The term of the Master Agreement shall be extended until June 30, 2019, unless earlier terminated as provided in the Master Agreement. 133 4 17336.01100\29496573.1 3.2 The Master Agreement is hereby amended to include Services, as that term is defined in the Master Agreement, as identified in Exhibit “A” attached hereto and incorporated herein by reference. The Services set forth in the attached Exhibit “A” shall be performed expeditiously within the term of the Master Agreement. 3.3 The maximum compensation for Services performed pursuant to this Amendment No. 12 shall not exceed Two Million Five Hundred Ninety-Five Thousand Ninety-Eight Dollars ($2,595,098). 3.4 The total contract value for the Master Agreement, as amended by Amendment No. 1 through this Amendment No. 12, shall not exceed Forty- Nine Million Five Hundred Ninety-Two Thousand Five Hundred Fifteen Dollars ($49,592,515). 3.5 The recitals set forth above are true and correct and are incorporated into this Amendment No. 12 by reference as though fully set forth herein. 3.6 Except as amended by this Amendment No. 12, all provisions of the Master Agreement, as amended by Amendment Nos. 1 through 11, including without limitation the indemnity and insurance provisions, shall remain in full force and effect and shall govern the actions of the parties under this Amendment No. 11. [Signatures on following page] 134 5 17336.01100\29496573.1 SIGNATURE PAGE TO AMENDMENT NO. 12 PROFESSIONAL SERVICES AGREEMENT WITH FEDERAL FUNDING/ASSISTANCE MID COUNTY PARKWAY PROJECT AGREEMENT FOR PROFESSIONAL AND ENGINEERING SERVICES IN WITNESS WHEREOF, the parties hereto have executed this Amendment No. 11 on the date first herein above written. RIVERSIDE COUNTY JACOBS ENGINEERING GROUP TRANSPORTATION COMMISSION INC. By:___________________________ By: __________________________ Anne Mayer, Executive Director Signature __________________________ Name __________________________ Title APPROVED AS TO FORM: ATTEST: By: _____________________________ By: __________________________ Best Best & Krieger LLP Signature Counsel to the Riverside County Transportation Commission __________________________ Name __________________________ Title A corporation requires the signatures of two corporate officers. One signature shall be that of the chairman of board, the president or any vice president and the second signature (on the attest line) shall be that of the secretary, any assistant secretary, the chief financial officer or any assistant treasurer of such corporation. If the above referenced persons are not the intended signators, evidence of signature authority shall be provided to RCTC. 135 BLANK AGENDA ITEM 6K BLANK Agenda Item 6K  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM: Western Riverside County Programs and Projects Committee  Mark Lancaster, Right of Way Manager  THROUGH: Anne Mayer, Executive Director   SUBJECT: Request to Declare Real Property as Surplus    WESTERN RIVERSIDE COUNTY PROGRAMS AND PROJECTS COMMITTEE AND STAFF  RECOMMENDATION:    This item is for the Commission to:    1) Declare as surplus the real property in the areas of the State Route 91 high occupancy  vehicle lanes (SR‐91 HOV) project and former alignment of the Mid County Parkway (MCP)  near Cajalco Road, as specifically identified in this report and attached maps;   2) Authorize the Executive Director to notify public agencies pursuant to Government Code  54220 et.seq. the properties are available; and  3) If no response is received, authorize the Executive Director to offer the surplus properties  for sale to the public.    BACKGROUND INFORMATION:    Staff completed a review of the Commission’s real property inventory and determined it would  be in the Commission’s best interest to declare several parcels as surplus and offer them for sale.    The parcels proposed to be declared as excess are land parcels acquired to facilitate the  construction of the 91 HOV project and the former alignment of the MCP near Cajalco Road and  are no longer necessary for current or future project purposes.  The following table summarizes  the properties proposed to be declared excess.      Site # of Parcels Acreage Location  SR‐91 HOV  4 2.04 City of Riverside  Cajalco Road (MCP) 1 17.765 City of Corona  Total 5 19.805        136 Agenda Item 6K  Process    After being declared excess, staff will follow the Commission’s right of way policies and  procedures, state laws, and any applicable funding requirements to dispose of the property.  Staff  will prioritize the order of sale based on market conditions.      Pursuant to the Government Code 54220, et.seq., letters will be prepared notifying the  appropriate public agencies and any other qualifying entities of the Commission’s decision to  declare the property surplus.  If interested, the public agency(s) shall notify the Commission in  writing of its intent to purchase or lease the land within 60 days after receipt of the Commission’s  notification of intent to sell the land.  If no public agency expresses interest in the parcel, the  parcels will then be offered for sale to the public.  Notification requirements do not apply to  exempt property as defined by the Government Code, or to the sale of excess to an owner of  contiguous land.     An appraisal will be completed in order to determine the current fair market value of the surplus  property.  The surplus property will be advertised for sale, utilizing the Commission's website,  newspapers, and online publications as well as signage on the property.  An invitation for bids,  will be added to Available Property section on the Commission’s website and a defined submittal  date will be provided.    Staff will review the offers received based on the following criteria:    1) Price; and   2) Terms and conditions of sale.    All applicants will be required to complete the Commission’s Conflict of Interest form.    Staff will return to the Commission for approval before entering into a purchase and sale  agreement for any of the properties.    Properties    Now that the construction of the SR‐91 HOV project is complete, the Commission may begin the  process of disposing of remnant or surplus property.  For the most part, the parcels remaining  from the SR‐91 HOV project are developable parcels and have generated some interest from  either owners of contiguous land or from the community in general.    The parcel located southwesterly of Cajalco Road and Interstate 15, was acquired prior to  adopting a preferred alignment for the MCP project and all of the alternatives were initially   along Cajalco Road.  Development of the property was imminent as part of the overall Arantine  Hills development; it was considered a protection parcel and acquired in December 2008 as such.   It is located in the alignment that has since been deleted for this project, and thus is no longer  needed.  This property is developable and has generated interest in the community; however,  137 Agenda Item 6K  the previous owner, McMillan Trust and Corona Investments LLC, has the right of first refusal  after declaring it surplus property.  Staff will reserve a 14’‐wide easement for trail purposes along  the northerly and easterly edge of the property between Bedford Canyon Road and the Bedford  Canyon Wash.    Staff requests the Commission declare these parcels as surplus property and authorize the  Executive Director to offer the surplus property for sale.  The proceeds from the sales of these  properties have not been included in the FY 2016/17 budget; a budget adjustment is not required  for the potential revenues.  SR‐91 HOV Properties  APN Ownership  Type  Vacant/  Improved Zoning Square Feet  229‐082‐006 Fee Vacant Commercial Retail 9,961  229‐082‐007 Fee Vacant Commercial Retail 4,807  219‐270‐006  223‐050‐009 Fee Vacant Residential 70,520  219‐103‐006 Fee Vacant Industrial 3,646    Cajalco Road (MCP) Properties  APNs Ownership  Type  Vacant/  Improved Zoning Acres  279‐190‐046  279‐240‐019 Fee Vacant Agricultural 17.765    Financial Information  In Fiscal Year Budget: No  N/A Year: FY 2016/17  FY 2017/18+ Amount: Undetermined  Source of Funds: Property sale proceeds Budget Adjustment: No  N/A  GL/Project Accounting No.: 002302 000 59030 0000 210 73 59030  003005 000 59030 0000 222 31 59030  Fiscal Procedures Approved: Date: 02/16/2017    Attachment:  Maps Depicting the Real Property to be Declared as Surplus  138 BLANK *IMPORTANT* Maps and data are to be used for reference purposes only. Map features are approximate, and are not necessarily accurate to surveying or engineering standards. The County of Riverside makes no warranty or guarantee as to the content (the source is often third party), accuracy, timeliness, or completeness of any of the data provided, and assumes no legal responsibility for the information contained on this map. Any use of this product with respect to accuracy and precision shall be the sole responsibility of the user. © Riverside County RCIT GIS 961 Feet Legend CPN 20418-01-01 Notes 4800 REPORT PRINTED ON...2/16/2017 9:59:13 AM 91 HOV near Ivy St Display Parcels City Boundaries Cities 139 *IMPORTANT* Maps and data are to be used for reference purposes only. Map features are approximate, and are not necessarily accurate to surveying or engineering standards. The County of Riverside makes no warranty or guarantee as to the content (the source is often third party), accuracy, timeliness, or completeness of any of the data provided, and assumes no legal responsibility for the information contained on this map. Any use of this product with respect to accuracy and precision shall be the sole responsibility of the user. © Riverside County RCIT GIS 367 Feet Legend CPNs 20670-01-01 & 20408-01-01 Notes 1830 REPORT PRINTED ON...2/16/2017 10:02:18 AM 91 HOV near Indiana Ave/Arlington Ave Display Parcels City Boundaries Cities 140 *IMPORTANT* Maps and data are to be used for reference purposes only. Map features are approximate, and are not necessarily accurate to surveying or engineering standards. The County of Riverside makes no warranty or guarantee as to the content (the source is often third party), accuracy, timeliness, or completeness of any of the data provided, and assumes no legal responsibility for the information contained on this map. Any use of this product with respect to accuracy and precision shall be the sole responsibility of the user. © Riverside County RCIT GIS 514 Feet Legend CPN 21625-01-01 Notes 2570 REPORT PRINTED ON...2/16/2017 10:03:46 AM 91 HOV near Cridge St Display Parcels City Boundaries Cities 141 142 AGENDA ITEM 6L BLANK Agenda Item 6L  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM:  Western Riverside County Programs and Projects Committee  Mark Lancaster, Right of Way Manager  Ruby Arellano, Management Analyst  THROUGH: Anne Mayer, Executive Director  SUBJECT: Agreements for On‐Call Property Maintenance and Repair Services  WESTERN RIVERSIDE COUNTY PROGRAMS AND PROJECTS COMMITTEE AND STAFF  RECOMMENDATION:    This item is for the Commission to:    1) Award the following agreements to provide on‐call property maintenance and repair  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 $1.5 million;  a) Agreement No. 17‐33‐029‐00 to Braughton Construction, Inc.;  b) Agreement No. 17‐33‐030‐00 to Carry All;   c) Agreement No. 17‐33‐031‐00 to DeAngelo Brothers, LLC;  d) Agreement No. 17‐33‐032‐00 to Real Estate Consulting & Services, 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; and  3) Authorize the Executive Director, or designee, to execute task orders awarded to  contractors under the terms of the agreements.     BACKGROUND INFORMATION:    The Commission’s Right of Way Department is responsible for the maintenance and  management of over 600 real estate parcels throughout Western Riverside County varying in  size from one to fifty‐five acres.  Certain parcels are developed and others are vacant land.  The  Commission‐owned properties must be maintained in accordance with relevant codes,  regulations, and local ordinances including timely responses to local code enforcement citations  and scheduled seasonal fire abatement requirements.     The Commission requires the services of one or more qualified contractors to provide a variety  of maintenance and repair services for Commission‐owned properties, parcels, and  appurtenances.  The agreements for the current on‐call bench of contractors are set to expire  in March 2017.  In order to maximize competitive pricing and provide adequate resources to      143 Agenda Item 6L  address the sizeable and varied workload, staff recommends the establishment of a new on‐call  bench to provide weed abatement, vegetation control, litter and debris removal, and fence and  sign maintenance/repair services.      A task order type of contract was chosen because the nature and scope of the anticipated  services are clear; however, the timing, quantity, and delivery of the required services are  uncertain.  Further, the competitive task order format ensures the Commission is receiving a  fair and reasonable price for services provided under each task order awarded by the  Commission.  Task orders are typically issued to the lowest bidder.  However, there are  infrequent circumstances where time, experience, and/or other factors need to be taken into  account.  In those cases, staff will select the contractor most appropriate for the work needed.      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 firm, personnel, and the ability to respond to the Commission’s needs for   on‐call property maintenance and repair services as set forth under the terms of the Request  For Proposals (RFP) No. 17‐33‐029‐00.    RFP No. 17‐33‐029‐00 for on‐call property maintenance and repair services was released by  staff on October 27, 2016.  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 166 firms, 40 of which are  located in Riverside County.  Through the PlanetBids site, 14 firms downloaded the RFP; 2 of  these firms are located in Riverside County.  Four firms – Braughton Construction, Inc. (Rancho  Cucamonga); Carry All (Norco); DeAngelo Brothers, LLC (Ontario); and Real Estate Consulting &  Services, Inc. (Santa Ana) – submitted proposals.  Utilizing the evaluation criteria set forth in the  RFP, the four proposals were evaluated and scored by an evaluation committee comprised of  Commission and Caltrans staff.      As a result of the evaluation committee’s assessment of the written proposals, the evaluation  committee recommends all four firms for award of on‐call property maintenance and repair  services for a three‐year term, and two one‐year options to extend the agreements, in the  aggregate amount of $1.5 million.  The overall evaluation ranking, based on highest to lowest  total evaluation score, and the total price are presented in the following table.    Firm Overall Ranking  Braughton Construction, Inc. 1  Carry All 2  Real Estate & Consulting Services, Inc. 3  DeAngelo Brothers, LLC 4    144 Agenda Item 6L  The Commission’s model on‐call and maintenance services agreement will be entered into with  each consultant firm, subject to any changes approved by the Executive Director, and pursuant  to legal counsel review.  Staff oversight of the contract will work to maximize the effectiveness  of the consultants and minimize costs to the Commission.    Financial Information  In Fiscal Year Budget: Yes  N/A Year: FY 2015/16  FY 2016/17+ Amount: $   150,000  $1,350,000  Source of Funds: Measure A, TUMF, and federal and  state reimbursements Budget Adjustment: No  N/A  GL/Project Accounting No.:  652402 XXXXX 265 33 XXXXX  622402 XXXXX 262 31 XXXXX  003017 XXXXX 222 31 XXXXX  005127 XXXXX 210 72 XXXXX  002302 XXXXX 210 73 XXXXX  Fiscal Procedures Approved: Date: 02/17/2017    Attachment:  Draft On‐Call and Maintenance Services Agreement     145 BLANK 17336.00603\29327411.1 1 RIVERSIDE COUNTY TRANSPORTATION COMMISSION ROUTINE AND ON-CALL MAINTENANCE SERVICES AGREEMENT 1. PARTIES AND DATE. This Agreement is made and entered into this [***INSERT DAY***] day of [***INSERT MONTH***], [***INSERT YEAR***] by and between the Riverside County Transportation Commission (“Commission”) and Braughton Construction, Inc., a Corporation, with its principal place of business at 10722 Arrow Rte #810, Rancho Cucamonga, CA 91730 (“Contractor”). Commission and Contractor are sometimes individually referred to as “Party” and collectively as “Parties” in this Agreement. 2. RECITALS. 2.1 Commission is the Transportation Commission for the County of Riverside and organized under the laws of the State of California with the power to contract for services necessary to achieve its purpose. 2.2 Commission is responsible for over 600 parcels of property located in Riverside County. Certain parcels are developed; others are vacant or excess land. This property must be maintained in accordance with federal and state regulations and various local ordinances. 2.3 On or about _______________, Commission issued a Request for Proposals No. _______________ (“RFP”), pursuant to which Commission sought proposals from contractors to provide routine and on-call maintenance services. 2.4 Contractor desires to perform and assume responsibility for the provision of certain routine and on-call maintenance services required by Commission on the terms and conditions set forth in this Agreement and, for the on-call portions of the services, in the task order(s) to be issued pursuant to this Agreement and executed by the Commission and Contractor ("Task Order"). 2.5 The work generally includes on-call property maintenance and repair services. Contractor represents that it is a professional Contractor, experienced in providing routine and on-call maintenance services to public clients, and is familiar with the plans of Commission. 2.6 Commission desires to engage Contractor to render routine and on-call maintenance services for the Commission. Routine maintenance services shall be as set forth in Exhibit “A”, attached hereto and incorporated herein by reference. On-call maintenance services shall be ordered by Task Order(s) to be issued pursuant to this Agreement for future projects as set 146 17336.00603\29327411.1 2 forth herein. The routine services set forth in Exhibit “A” and each individual project ordered under a Task Order shall be referred to, herein, collectively, as the “Project”. 3. TERMS. 3.1 Scope of Services and Term. 3.1.1 General Scope of Services. Contractor promises and agrees to furnish to Commission all labor materials, tools, equipment, services, and incidental and customary work, as necessary, to fully and adequately provide the routine maintenance services as set forth in Exhibit “A” and any on-call maintenance services required by Commission, as shall be set forth in a Task Order, collectively referred to herein as the "Services". On-call Services shall be more particularly described in the individual Task Orders issued by the Commission’s Executive Director or designee. No on-call Services shall be performed unless authorized by a fully executed Task Order in the form attached hereto as Exhibit "D". 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. 3.1.2 Term. The term of this Agreement shall be from [***INSERT START DATE***] to March 31, 2020, unless earlier terminated as provided herein. Contractor shall complete the Services within the term of this Agreement, and shall meet any other established schedules and deadlines. The Parties may, by mutual, written consent, extend the term of this Agreement if necessary to complete the Services. 3.2 Responsibilities of Contractor. 3.2.1 Control and Payment of Subordinates; Independent Contractor. The Services shall be performed by Contractor or under its supervision. Contractor will determine the means, methods and details of performing the Services subject to the requirements of this Agreement. Commission retains Contractor on an independent contractor basis and not as an employee. Contractor 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 Contractor shall also not be employees of Commission and shall at all times be under Contractor’s exclusive direction and control. Contractor 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. Contractor 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, disability insurance, and workers’ compensation insurance. 3.2.2 Schedule of Services. Contractor shall perform the routine maintenance Services expeditiously, within the term of this Agreement, and in accordance with the schedule set forth in Exhibit “B” attached hereto and incorporated herein by reference. Contractor shall perform any on-call Services in accordance with the schedule that shall be set forth in the Task Order (collectively, "Schedule of Services"). Contractor shall be required to commence work on a Task Order within five (5) days of receiving a fully executed Task Order. Contractor 147 17336.00603\29327411.1 3 represents that it has the professional and technical personnel required to perform the Services in conformance with such conditions. In order to facilitate Contractor’s conformance with each Schedule, the Commission shall respond to Contractor’s submittals in a timely manner. Upon the Commission’s request, Contractor shall provide a more detailed schedule of anticipated performance to meet the relevant Schedule of Services. 3.2.3 Conformance to Applicable Requirements. All work prepared by Contractor shall be subject to the approval of Commission. 3.2.4 Commission’s Representative. The Commission hereby designates [***INSERT NAME OR TITLE***], 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 the Commission for all purposes under this Agreement. Contractor shall not accept direction or orders from any person other than the Commission’s Representative or his or her designee. 3.2.5 Contractor’s Representative. Contractor hereby designates [***INSERT NAME OR TITLE***], or his or her designee, to act as its representative for the performance of this Agreement (“Contractor’s Representative”). Contractor’s Representative shall have full authority to represent and act on behalf of the Contractor for all purposes under this Agreement. The Contractor’s Representative shall supervise and direct the Services, using his 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. 3.2.6 Coordination of Services. Contractor 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. 3.2.7 Standard of Care; Performance of Employees. Contractor shall perform all Services under this Agreement in a skillful and competent manner, consistent with the standards generally recognized as being employed by professionals in the same discipline in the State of California. Contractor represents and maintains that it is skilled in the professional calling necessary to perform the Services. Contractor warrants that all employees and subcontractors shall have sufficient skill and experience to perform the Services assigned to them. Finally, Contractor 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. As provided for in the indemnification provisions of this Agreement, Contractor shall perform, at its own cost and expense and without reimbursement from the Commission, any services necessary to correct errors or omissions which are caused by the Contractor’s failure to comply with the standard of care provided for herein. Any employee of the Contractor or its sub-contractors 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 who fails or refuses to perform the Services in a manner acceptable to the Commission, shall be promptly removed from the Project by the Contractor and shall not be re-employed to perform any of the Services or to work on the Project. 148 17336.00603\29327411.1 4 3.2.8 Period of Performance. Contractor shall perform and complete all Services under this Agreement within the term set forth in Section 3.1.2 above (“Performance Time”). Contractor shall perform the Services in strict accordance with any completion schedule or Project milestones described in Exhibits “A” or “B” attached hereto, or which may be provided separately in writing to the Contractor. Contractor agrees that if the Services are not completed within the aforementioned Performance Time and/or pursuant to any such completion schedule or Project milestones developed pursuant to provisions of this Agreement, it is understood, acknowledged and agreed that the Commission will suffer damage. 3.2.9 Disputes. Should any dispute arise respecting the true value of any work done, of any work omitted, or of any extra work which Contractor may be required to do, or respecting the size of any payment to Contractor during the performance of this Contract, Contractor shall continue to perform the Work while said dispute is decided by the Commission. If Contractor disputes the Commission’s decision, Contractor shall have such remedies as may be provided by law. 3.2.10 Laws and Regulations; Employee/Labor Certifications. Contractor 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. Contractor shall be liable for all violations of such laws and regulations in connection with Services. If the Contractor performs any work knowing it to be contrary to such laws, rules and regulations and without giving written notice to the Commission, Contractor shall be solely responsible for all costs arising therefrom. Commission is a public entity of the State of California subject to, among other rules and regulations, the Public Utilities Code, Public Contract Code, and Labor Code of the State. It is stipulated and agreed that all provisions of the law applicable to the public contracts of a county transportation commissions are a part of this Agreement to the same extent as though set forth herein and will be complied with. These include but are not limited to the payment of prevailing wages, the stipulation that eight (8) hours' labor shall constitute a legal day's work and that no worker shall be permitted to work in excess of eight (8) hours during any one calendar day except as permitted by law. Contractor shall defend, indemnify and hold Commission, its officials, 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. 3.2.10.1 Employment Eligibility; Contractor. By executing this Agreement, Contractor verifies that it fully complies with all requirements and restrictions of state and federal law respecting the employment of undocumented aliens, including, but not limited to, the Immigration Reform and Control Act of 1986, as may be amended from time to time. Such requirements and restrictions include, but are not limited to, examination and retention of documentation confirming the identity and immigration status of each employee of the Contractor. Contractor also verifies that it has not committed a violation of any such law within the five (5) years immediately preceding the date of execution of this Agreement, and shall not violate any such law at any time during the term of the Agreement. Contractor shall avoid any violation of any such law during the term of this Agreement by participating in an electronic verification of work authorization program operated by the United States Department of Homeland Security, by participating in an equivalent federal work authorization program operated by the United States 149 17336.00603\29327411.1 5 Department of Homeland Security to verify information of newly hired employees, or by some other legally acceptable method. Contractor shall maintain records of each such verification, and shall make them available to the Commission or its representatives for inspection and copy at any time during normal business hours. The Commission shall not be responsible for any costs or expenses related to Contractor’s compliance with the requirements provided for in Section 3.2.10 or any of its sub-sections. 3.2.10.2 Employment Eligibility; Subcontractors, Sub- subcontractors and consultants. To the same extent and under the same conditions as Contractor, Contractor shall require all of its subcontractors, sub-subcontractors and consultants performing any work relating to the Project or this Agreement to make the same verifications and comply with all requirements and restrictions provided for in Section 3.2.10.1. 3.2.10.3 Employment Eligibility; Failure to Comply. Each person executing this Agreement on behalf of Contractor verifies that they are a duly authorized officer of Contractor, and understands that any of the following shall be grounds for the Commission to terminate the Agreement for cause: (1) failure of Contractor or its subcontractors, sub- subcontractors or consultants to meet any of the requirements provided for in Sections 3.2.10.1 or 3.2.10.2; (2) any misrepresentation or material omission concerning compliance with such requirements (including in those verifications provided to the Contractor under Section 3.2.10.2); or (3) failure to immediately remove from the Project any person found not to be in compliance with such requirements. 3.2.10.4 Labor Certification. By its signature hereunder, Contractor 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. 3.2.10.5 Equal Opportunity Employment. Contractor represents that it is an equal opportunity employer and it shall not discriminate against any subcontractor, employee or applicant for employment because of race, religion, color, national origin, handicap, 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. Contractor shall also comply with all relevant provisions of Commission’s Disadvantaged Business Enterprise program, Affirmative Action Plan or other related programs or guidelines currently in effect or hereinafter enacted. 3.2.10.6 Air Quality. Contractor must fully comply with all applicable laws, rules and regulations in furnishing or using equipment and/or providing services, including, but not limited to, emissions limits and permitting requirements imposed by the California Air Resources Board (CARB). Contractor shall specifically be aware of the CARB limits and requirements’ application to "portable equipment", which definition is considered by CARB to include any item of equipment with a fuel-powered engine. Contractor shall indemnify Commission against any fines or penalties imposed by CARB or any other governmental or regulatory agency for violations of applicable laws, rules and/or regulations by Contractor, its 150 17336.00603\29327411.1 6 subcontractors, or others for whom Contractor is responsible under its indemnity obligations provided for in this Agreement. 3.2.10.7 Water Quality. (A) Management and Compliance. To the extent applicable, Contractor’s Services must account for, and fully comply with, all local, state and federal laws, rules and regulations that may impact water quality compliance, including, without limitation, all applicable provisions of the Federal Water Pollution Control Act (33 U.S.C. §§ 1300); the California Porter-Cologne Water Quality Control Act (Cal Water Code §§ 13000-14950); laws, rules and regulations of the Environmental Protection Agency and the State Water Resources Control Board; the Commission’s rules regarding discharges of storm water; and any and all regulations, policies, or permits issued pursuant to any such authority regulating the discharge of pollutants, as that term is used in the Porter-Cologne Water Quality Control Act, to any ground or surface water in the State. (B) Liability for Non-Compliance. Failure to comply with the laws, regulations and policies described in this Section is a violation of law that may subject Contractor or Commission to penalties, fines, or additional regulatory requirements. Contractor shall defend, indemnify and hold the Commission, its officials, officers, employees, volunteers and agents free and harmless, pursuant to the indemnification provisions of this Agreement, from and against any and all fines, penalties, claims or other regulatory requirements imposed as a result of Contractor’s non-compliance with the laws, regulations and policies described in this Section, unless such non-compliance is the result of the sole established negligence, willful misconduct or active negligence of the Commission, its officials, officers, agents, employees or authorized volunteers. (C) Training. In addition to any other standard of care requirements set forth in this Agreement, Contractor warrants that all employees and subcontractors shall have sufficient skill and experience to perform the Services assigned to them without impacting water quality in violation of the laws, regulations and policies described in this Section. Contractor further warrants that it, its employees and subcontractors will receive adequate training, as determined by Commission, regarding the requirements of the laws, regulations and policies described in this Section as they may relate to the Services provided under this Agreement. Upon request, Commission will provide Contractor with a list of training programs that meet the requirements of this paragraph. 3.2.11 Insurance. 3.2.11.1 Time for Compliance. Contractor 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, Contractor shall not allow any subcontractor to commence work on any subcontract until it has secured all insurance required under this section. 3.2.11.2 Minimum Requirements. Contractor shall, at its expense, procure and maintain for the duration of the Agreement insurance against claims for injuries to 151 17336.00603\29327411.1 7 persons or damages to property which may arise from or in connection with the performance of the Agreement by the Contractor, its agents, representatives, employees or subcontractors. Contractor 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. Contractor 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 twice the required occurrence limit; (2) Automobile Liability: $1,000,000 per accident for bodily injury and property damage; and (3) if Contractor 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. 3.2.11.3 Insurance Endorsements. The insurance policies shall contain the following provisions, or Contractor 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 contractors 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 this 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. 152 17336.00603\29327411.1 8 (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. 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 Contractor or for which the Contractor is responsible; and (2) the insurance coverage shall be primary insurance as respects the Commission, its directors, officials, officers, employees and agents, or if excess, shall stand in an unbroken chain of coverage excess of the Contractor’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 Contractor’s insurance and shall not be called upon to contribute with it in any way. (C) Workers’ Compensation and Employers Liability Coverage. (i) Contractor 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 Contractor. (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 153 17336.00603\29327411.1 9 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). (iv) Contractor shall provide the Commission at least thirty (30) days prior written notice of cancellation of any policy required by this Agreement, except that the Contractor 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 Contractor 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. Contractor shall maintain such coverage continuously for a period of at least three years after the completion of the work under this Agreement. Contractor 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 Contractor, 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 Contractor 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 Contractor or Commission will withhold amounts sufficient to pay premium from Contractor payments. In the alternative, Commission may cancel this Agreement. The Commission may require the Contractor 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. Each insurance policy required by this Agreement shall be endorsed to state that: 3.2.11.4 Deductibles and Self-Insurance Retentions. Any deductibles or self-insured retentions must be declared to and approved by the Commission. If the Commission 154 17336.00603\29327411.1 10 does not approve the deductibles or self-insured retentions as presented, Contractor 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 Contractor shall procure a bond guaranteeing payment of losses and related investigation costs, claims and administrative and defense expenses. 3.2.11.5 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. 3.2.11.6 Verification of Coverage. Contractor 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. 3.2.11.7 Subcontractor Insurance Requirements. Contractor shall not allow any subcontractors or subcontractors 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 subcontractors shall be endorsed to name the Commission as an additional insured using ISO form CG 20 38 04 13 or an endorsement providing the exact same coverage. If requested by Contractor, the Commission may approve different scopes or minimum limits of insurance for particular subcontractors or subcontractors. 3.2.12 Safety. Contractor shall execute and maintain its work so as to avoid injury or damage to any person or property. In carrying out its Services, the Contractor 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. 3.2.13 Accounting Records. Contractor shall maintain complete and accurate records with respect to all costs and expenses incurred under this Agreement. All such records shall be clearly identifiable. Contractor 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. Contractor 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. 155 17336.00603\29327411.1 11 3.3 Fees and Payments; Labor Code Requirements. 3.3.1 Compensation. Contractor shall receive compensation, including authorized reimbursements, for all Services rendered under this Agreement at the rates set forth in Exhibit "C" attached hereto and incorporated herein by reference. The total compensation to be provided under this Agreement, including all Task Orders issued pursuant to this Agreement shall not exceed [__INSERT DOLLAR AMOUNT__]. The total compensation per Task Order shall be set forth in the relevant Task Order, and shall not exceed said amount without the written approval of the Commissioner’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. 3.3.2 Payment of Compensation. Contractor shall submit to Commission a monthly itemized statement which indicates work completed and hours of Services rendered by Contractor. 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 45 days of receiving such statement, review the statement and pay all approved charges thereon. 3.3.3 Reimbursement for Expenses. Contractor shall not be reimbursed for any expenses unless authorized in writing by Commission. 3.3.4 Extra Work. At any time during the term of this Agreement, Commission may request that Contractor 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. Contractor shall not perform, nor be compensated for, Extra Work without written authorization from Commission’s Representative. 3.3.5 Prevailing Wages. Contractor is aware of the requirements of California Labor Code Section 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 “public works” and “maintenance” projects. Since the Services are being performed as part of an applicable “public works” or “maintenance” project, as defined by the Prevailing Wage Laws, and since the total compensation is $1,000 or more, Contractor agrees to fully comply with such Prevailing Wage Laws. Commission shall provide Contractor with a copy of the prevailing rates of per diem wages in effect at the commencement of this Agreement. Contractor 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 Contractor’s principal place of business and at the project site. Contractor shall defend, indemnify and hold the Commission, its officials, officers, employees and agents free and harmless from any claim or liability arising out of any failure or alleged failure to comply with the Prevailing Wage Laws. 3.3.6 Payroll Records. In accordance with the requirements of California Labor Code Section 1776, Contractor shall keep accurate payroll records which are either on forms provided by the Division of Labor Standards Enforcement or which contain the same information required by such forms. Responsibility for compliance with California Labor Code Section 1776 156 17336.00603\29327411.1 12 shall rest solely with Contractor, and Contractor shall make all such records available for inspection at all reasonable hours. 3.3.7 Registration. Since the Services are being performed as part of an applicable “public works” or “maintenance” project, then pursuant to Labor Code Sections 1725.5 and 1771.1, the Contractor and all subcontractors must be registered with the Department of Industrial Relations. Contractor shall maintain registration for the duration of the Project and require the same of any subcontractor. This Project may also be subject to compliance monitoring and enforcement by the Department of Industrial Relations. It shall be Contractor’s sole responsibility to comply with all applicable registration and labor compliance requirements. 3.3.8 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 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, Contractor 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 Contractor or any sub-contractor for the employment and training of apprentices. Upon issuance of this certificate, Contractor and any sub-contractor 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 Contractor. 3.3.9 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 Contractor or the Services are not subject to the Eight-Hour Law. Contractor 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-contractor 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 Contractor or the Services are not subject to the Eight-Hour Law. 3.4 Termination of Agreement. 157 17336.00603\29327411.1 13 3.4.1 Grounds for Termination. Commission may, by written notice to Contractor, terminate the whole or any part of this Agreement at any time and without cause by giving written notice to Contractor of such termination, and specifying the effective date thereof, at least seven (7) days before the effective date of such termination. Upon termination, Contractor shall be compensated only for those services which have been adequately rendered to Commission, and Contractor shall be entitled to no further compensation. Contractor may not terminate this Agreement except for cause. 3.4.2 Effect of Termination. If this Agreement is terminated as provided herein, Commission may require Contractor to provide all finished or unfinished Documents and Data and other information of any kind prepared by Contractor in connection with the performance of Services under this Agreement. Contractor shall be required to provide such document and other information within fifteen (15) days of the request. 3.4.3 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. 3.5 General Provisions. 3.5.1 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: ________________ 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. 158 17336.00603\29327411.1 14 3.5.2 Indemnification. 3.5.2.1 Scope of Indemnity. To the fullest extent permitted by law, Contractor shall defend, indemnify and hold the Commission, its officials, officers, employees, volunteers and agents free and harmless from any and all claims, demands, causes of action, costs, expenses, liability, loss, damage or injury of any kind, in law or equity, to property or persons, including wrongful death, in any manner arising out of, pertaining to, or incident to any alleged acts, errors or omissions of Contractor, its officials, officers, employees, subcontractors, contractors or agents 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, expert witness fees and attorneys’ fees and other related costs and expenses. Notwithstanding the foregoing, to the extent Contractor'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 Contractor. 3.5.2.2 Additional Indemnity Obligations. Contractor shall defend, with Counsel of Commission's choosing and at Contractor’s own cost, expense and risk, any and all claims, suits, actions or other proceedings of every kind covered by Section 3.5.2.1 that may be brought or instituted against Commission or its officials, officers, employees, volunteers and agents. Contractor shall pay and satisfy any judgment, award or decree that may be rendered against Commission or its officials, officers, employees, volunteers and agents as part of any such claim, suit, action or other proceeding. Contractor shall also reimburse Commission for the cost of any settlement paid by Commission or its officials, officers, employees, agents or volunteers as part of any such claim, suit, action or other proceeding. Such reimbursement shall include payment for Commission’s attorneys’ fees and costs, including expert witness fees. Contractor shall reimburse Commission and its officials, officers, employees, agents, and/or volunteers, for any and all legal expenses and costs incurred by each of them in connection therewith or in enforcing the indemnity herein provided. Contractor’s obligation to indemnify shall survive expiration or termination of this Agreement, and shall not be restricted to insurance proceeds, if any, received by the Commission, its officials officers, employees, agents, or volunteers. 3.5.3 Governing Law; Government Code Claim Compliance. This Agreement shall be governed by the laws of the State of California. Venue shall be in Riverside County. In addition to any and all contract requirements pertaining to notices of and requests for compensation or payment for extra work, disputed work, claims and/or changed conditions, Contractor must comply with the claim procedures set forth in Government Code sections 900 et seq. prior to filing any lawsuit against the Commission. Such Government Code claims and any subsequent lawsuit based upon the Government Code claims shall be limited to those matters that remain unresolved after all procedures pertaining to extra work, disputed work, claims, and/or changed conditions have been followed by Contractor. If no such Government Code claim is submitted, or if any prerequisite contractual requirements are not otherwise satisfied as specified herein, Contractor shall be barred from bringing and maintaining a valid lawsuit against the Commission. 3.5.4 Time of Essence. Time is of the essence for each and every provision of this Agreement. 159 17336.00603\29327411.1 15 3.5.5 Commission’s Right to Employ Other Contractors. Commission reserves right to employ other contractors in connection with this Project. 3.5.6 Successors and Assigns. This Agreement shall be binding on the successors and assigns of the parties. 3.5.7 Assignment or Transfer. Contractor 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. Subcontracts, if any, shall contain a provision making them subject to all provisions stipulated in this Agreement. 3.5.8 Construction; References; Captions. Since the Parties or their agents have participated fully in the preparation of this Agreement, the language of this Agreement shall be construed simply, according to its fair meaning, and not strictly for or against any Party. Any term referencing time, days or period for performance shall be deemed calendar days and not work days. All references to Contractor include all personnel, employees, agents, and subcontractors of Contractor, except as otherwise specified in this Agreement. All references to Commission include its officials, officers, employees, agents, and volunteers except as otherwise specified in this Agreement. The captions of the various articles and paragraphs are for convenience and ease of reference only, and do not define, limit, augment, or describe the scope, content or intent of this Agreement. 3.5.9 Amendment; Modification. No supplement, modification or amendment of this Agreement shall be binding unless executed in writing and signed by both Parties. 3.5.10 Waiver. No waiver of any default shall constitute a waiver of any other default or breach, whether of the same or other covenant or condition. No waiver, benefit, privilege, or service voluntarily given or performed by a Party shall give the other Party any contractual rights by custom, estoppel or otherwise. 3.5.11 No Third Party Beneficiaries. Except to the extent expressly provided for in Section 3.5.7, there are no intended third party beneficiaries of any right or obligation assumed by the Parties. 3.5.12 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. 3.5.13 Prohibited Interests. Contractor maintains and warrants that it has not employed nor retained any company or person, other than a bona fide employee working solely for Contractor, to solicit or secure this Agreement. Further, Contractor 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 Contractor, any fee, commission, percentage, brokerage fee, gift or other consideration contingent upon or resulting from the award or making of this Agreement. Contractor further agrees to file, or shall cause its employees or subcontractors to file, a Statement of Economic Interest with the Commission’s Filing Officer as required under state law in the performance of 160 17336.00603\29327411.1 16 the Services. For breach or violation of this warranty, Commission shall have the right to rescind this Agreement without liability. 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. 3.5.14 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. 3.5.15 Authority to Enter Agreement. Contractor 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. 3.5.16 Counterparts. This Agreement may be signed in counterparts, each of which shall constitute an original. 3.5.17 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. 3.5.18 Federal Provisions. If funding for the Services is provided, in whole or in part, with federal funds, Contractor shall also fully and adequately comply with the provisions included in Exhibit “E” (Federal Requirements) attached hereto and incorporated herein by reference (“Federal Requirements”). With respect to any conflict between such Federal Requirements and the terms of this Agreement and/or the provisions of state law, the more stringent requirement shall control. [SIGNATURES ON NEXT PAGE] 161 17336.00603\29327411.1 17 SIGNATURE PAGE FOR ROUTINE AND ON-CALL RIGHT OF WAY MAINTENANCE SERVICES AGREEMENT BETWEEN THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION AND [***INSERT NAME***] IN WITNESS WHEREOF, the Parties have entered into this Agreement as of the date first set forth above. RIVERSIDE COUNTY TRANSPORTATION COMMISSION [INSERT NAME] [INSERT TITLE] Approved as to form: Best Best & Krieger LLP General Counsel [***INSERT NAME***] Signature Name Title ATTEST: Signature Name Title A corporation requires the signatures of two corporate officers. One signature shall be that of the chairman of board, the president or any vice president and the second signature (on the attest line) shall be that of the secretary, any assistant secretary, the chief financial officer or any assistant treasurer of such corporation. If the above referenced persons are not the intended signators, evidence of signature authority shall be provided to RCTC. 162 17336.00603\29327411.1 18 EXHIBIT “A” SCOPE OF SERVICES [***INSERT SCOPE***] 163 17336.00603\29327411.1 19 EXHIBIT “B” SCHEDULE OF SERVICES [***INSERT SCHEDULE***] 164 17336.00603\29327411.1 20 EXHIBIT “C” COMPENSATION [***INSERT RATES & AUTHORIZED REIMBURSABLE EXPENSES***] 165 17336.00603\29327411.1 21 EXHIBIT “D” SAMPLE TASK ORDER FORM RIVERSIDE COUNTY TRANSPORTATION COMMISSION TASK ORDER Task Order No. _____________ Agreement No. ______________ Contractor: _________________________ The Contractor is hereby authorized to perform the following work subject to the provisions of the Agreement identified above: List any attachments: (Please provide if any.) Dollar Amount of Task Order: Not to exceed $_____,_____.00 Completion Date: _____________, 201__ The undersigned Contractor hereby agrees that it will provide all equipment, furnish all 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 Contractor Dated: _________________ Dated: _________________ By: ________________________ By: ____________________ Title: ________________________ Title: ____________________ 166 17336.00603\29327411.1 22 EXHIBIT “E” FEDERAL REQUIREMENTS [***TO BE INSERTED IF APPLICABLE***] 167 AGENDA ITEM 6M BLANK Agenda Item 6M  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM:  Budget and Implementation Committee  Sheldon Peterson, Rail Manager  Brenda Ramirez, Management Analyst  THROUGH: Anne Mayer, Executive Director  SUBJECT: Grant Funding Resolutions    BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION:    This item is for the Commission to:    1) Adopt Resolution No. 17‐004, “Resolution of the Riverside County Transportation  Commission Authorizing the Filing of Applications with the Federal Transit Administration  for Federal Transportation Assistance”; and  2) Adopt Resolution No. 17‐005, “Resolution of the Riverside County Transportation  Commission Approving the Allocation of FY 2016/17 Proposition 1B‐6961‐0002 California  Transit Security Grant Program‐ California Transit Assistance Funds to the RCTC Commuter  Rail Program and Designation of Authorized Agent”.    BACKGROUND INFORMATION:    The Commission’s Commuter Rail Program is responsible for the management of several key  funding sources and grants that are used directly for Metrolink service and capital upgrades as  well as station and rail property related projects.  As a designated recipient of a large urbanized  area of California for the Federal Transit Administration (FTA) Section 5307 Urbanized Area, 5337  State of Good Repair and 5339 Bus and Bus Facilities Grant programs, the Commission must  administer the program pursuant to the recently enacted federal transportation reauthorization.   Similarly, the Commission must submit a resolution for the California Proposition 1B California  Transit Security Grant Program‐California Transit Assistance Funds (CTSGP‐CTAF) grant to request  and administer the funding from the state.     There are no immediate financial commitments or contracts associated with these resolutions.  Any projects identified will come back to the Commission for formal approval.  The first step in  making the grant funds usable is to update the Commuter Rail Short Range Transportation Plan  (SRTP), which include plans for the Commission’s Commuter Rail Program, and provide detailed  information about existing services and facilities, financial forecasts and plans as well as planned       168 Agenda Item 6M  and proposed improvements to be implemented.  In addition, any identified federal projects will  need to be included in the list of Federal Transportation Improvement Program projects and the  annual program of projects.    The CTSGP‐CTAF funds will be used to upgrade the video surveillance system at the Commission’s  existing stations.  The funding will provide the tools and security equipment for the guard force  protecting the stations.  The Commission is a leading example of effective station security in the  Metrolink network.      The CTSGP‐CTAF is administered by the California Governor’s Office of Emergency Services  (Cal OES).  Cal OES requires a resolution appointing individuals to act on the behalf of the  Commission’s Rail Program.  This resolution is needed in order to successfully complete the grant  submittal process.  The funds and identified project will be listed in the Commission’s upcoming  FY 2017/18 Commuter Rail SRTP and will come back before the Commission for approval.     Financial Information  In Fiscal Year Budget: N/A Year: FY 2017/18+ Amount: $284,654  Source of Funds: Proposition 1B CTSGP‐CTAF Budget Adjustment: N/A  GL/Project Accounting No.: 004012 415 41507 265 33 41502   Fiscal Procedures Approved: Date: 02/21/2017    Attachments:  1) Resolution No. 17‐004  2) Resolution No. 17‐005  169 RESOLUTION NO. 17-004 RESOLUTION OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION AUTHORIZING THE FILING OF APPLICATIONS WITH THE FEDERAL TRANSIT ADMINISTRATION FOR FEDERAL TRANSPORTATION ASSISTANCE Resolution authorizing the filing of applications with the Federal Transit Administration, an operating administration of the United States Department of Transportation, for Federal transportation assistance authorized by 49 U.S.C chapter 53, and for any title 23 United States Code and other Federal statutes administered by the Federal Transit Administration. WHEREAS, the Federal Transit Administrator has been delegated authority to award Federal financial assistance for a public transportation project; WHEREAS, the grant or cooperative agreement for Federal financial assistance will impose certain obligations upon the Riverside County Transportation Commission (Applicant) and may require the Applicant to provide the local share of the project cost; WHEREAS, the Applicant has or will provide all annual certifications and assurances to the Federal Transit Administration required for the project. THEREFORE, IT IS HEREBY RESOLVED by the Riverside County Transportation Commission: 1.The Executive Director or designee is authorized to execute and file an application for Federal assistance on behalf of Riverside County Transportation Commission with the Federal Transit Administration for Federal assistance authorized by 49.U.S.C. chapter 53, Title 23 United States Code or other Federal statutes authorizing a project administered by the Federal Transit Administration. The Riverside County Transportation Commission has received authority from the Designated Recipient to apply for Urbanized Area Formula Program assistance. 2.The Executive Director or designee is authorized to execute and file with its application(s) the annual certification and assurances and other documents the Federal Transit Administration requires before awarding a Federal assistance grant or cooperative agreement. 3.The Executive Director or designee is authorized to execute grant and cooperative agreements with the Federal Transit Administration on behalf of the Riverside County Transportation Commission. APPROVED AND ADOPTED this 8th day of March 2017. __________________________________ John F. Tavaglione, Chair Riverside County Transportation Commission ATTEST: ________________________________ Jennifer Harmon, Clerk of the Board Riverside County Transportation Commission ATTACHMENT 1 170 BLANK RESOLUTION NO. 17-005 RESOLUTION OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION APPROVING THE ALLOCATION OF FY 2016/17 PROPOSITION 1B-6961-0002 CALIFORNIA TRANSIT SECURITY GRANT PROGRAM- CALIFORNIA TRANSIT ASSISTANCE FUNDS TO THE RCTC COMMUTER RAIL PROGRAM AND DESIGNATION OF AUTHORIZED AGENT WHEREAS, the Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006 authorizes the issuance of general obligation bonds for specified purposes, including, but not limited to, funding made available for capital projects that provide increased protection against security and safety threats, and for capital expenditures to increase the capacity of transit operators to develop disaster response transportation systems; and WHEREAS, the California Governor’s Office of Emergency Services (Cal OES) administers such funds deposited in the Transit System Safety, Security, and Disaster Response Account under the California Transit Security Grant Program (CTSGP); and WHEREAS, the Riverside County Transportation Commission is eligible to receive CTSGP funds; and WHEREAS, the Riverside County Transportation Commission will apply for FY 2016/17 CTSGP funds in an amount up to $284,654 for the Video Surveillance System Upgrade project at current rail stations which supports the purpose of the Highway Safety, Traffic Reduction, Air Quality, and Port Security Bond Act of 2006; and WHEREAS, Riverside County Transportation Commission recognizes that it is responsible for compliance with all Cal OES CTSGP grant assurances, and state and federal laws, including, but not limited to, laws governing the use of bond funds; and WHEREAS, Cal OES requires Riverside County Transportation Commission to complete and submit a Governing Body Resolution for the purposes of identifying agent(s) authorized to act on behalf of Riverside County Transportation Commission to execute actions necessary to obtain CTSGP funds from Cal OES and ensure continued compliance with Cal OES CTSGP assurances, and state and federal laws. ATTACHMENT 2 171 THEREFORE, IT IS HEREBY RESOLVED by the Riverside County Transportation Commission that Anne Mayer, Executive Director, and/or Designee, is hereby authorized to execute for and on behalf of Riverside County Transportation Commission, a public entity established under the laws of the State of California, any actions necessary for the purpose of obtaining financial assistance provided by the California Governor’s Office of Emergency Services under the CTSGP. APPROVED AND ADOPTED this 8th day of March 2017. __________________________________ John F. Tavaglione, Chair Riverside County Transportation Commission ATTEST: ________________________________ Jennifer Harmon, Clerk of the Board Riverside County Transportation Commission 172 AGENDA ITEM 6N BLANK Agenda Item 6N  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM: Western Riverside County Programs and Projects Committee  Brian Cunanan, Commuter and Motorist Assistance Manager  THROUGH: Anne Mayer, Executive Director  SUBJECT: Amendments to Freeway Service Patrol Agreement     WESTERN RIVERSIDE COUNTY PROGRAMS AND PROJECTS COMMITTEE AND STAFF  RECOMMENDATION:    This item is for the Commission to:    1) Approve Agreement No. 12‐45‐045‐04, Amendment No. 3 to Agreement   No. 12‐45‐045‐00, with Pepe’s Towing, Inc. (Pepe’s) to provide Freeway Service Patrol  (FSP) services on Beat No. 18 for an additional amount of $38,000, for a total amount  not to exceed $1,558,000;   2) Approve Agreement No. 12‐45‐046‐05, Amendment No. 4 to Agreement   No. 12‐45‐046‐00, with Pepe’s to provide FSP services on Beat No. 19 for an additional  amount of $70,000, for a total amount not to exceed $1,571,000;   3) Approve Agreement No. 14‐45‐009‐06, Amendment No. 4 to Agreement   No. 14‐45‐009‐00, with Steve’s Towing (Steve’s) to provide FSP services on Beat No. 1,  Beat No. 2, and State Route 91 Corridor Improvement Project (91 Project) Beat No. 1  and 91 Project Beat No. 2 for an additional amount of $197,000 and a total amount not  to exceed $2,852,057; and  4) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute  the agreements on behalf of the Commission.    BACKGROUND INFORMATION:    The Commission, acting in its capacity as the Service Authority for Freeway Emergencies (SAFE),  is the principal agency in Riverside County, in partnership with Caltrans and the California  Highway Patrol (CHP), managing the FSP program.  The purpose of the FSP program is to  provide a continuously roving tow services patrol along designated freeway segments (referred  to as beats) to relieve freeway congestion and facilitate the rapid removal of disabled vehicles  and those involved in minor accidents on local freeways.  Currently, the Commission contracts  with three tow truck operators to provide service on a total of nine beats Monday through  Friday during the peak commute hours, 5:30 a.m. to 8:30 a.m. and 2:30 p.m. (12:30 p.m. on       173 Agenda Item 6N  Fridays) to 6:30 p.m.  In addition to normal FSP service, construction FSP provides support for  construction projects as a transportation mitigation strategy.  FSP is currently providing such  support for the 91 Project.      In June 2012, the Commission awarded Agreement No. 12‐45‐045‐00 and Agreement No. 12‐ 45‐046‐00 to Pepe’s for operation of Beat No. 18 (three trucks) and Beat No. 19 (two trucks) in  support of the Commission’s FSP program in an amount not to exceed $1,520,000 and  $1,015,000, respectively.  The agreements were for a three‐year term and two one‐year  options, all of which have been exercised.  Additionally, an amendment to the agreement for  Beat No. 19 was approved by the Commission in May 2014 to include additional compensation  for construction FSP work supporting the Interstate 215 widening project.      In January 2015, the Commission entered into Agreement No. 14‐45‐009‐00 with Steve’s for 91  Project construction FSP support service and for Beat No. 25.  This agreement was further  amended, partially in response to another FSP operator’s bankruptcy, to revise the agreement’s  scope to the 91 Project and for Beat No. 1 and Beat No. 2 on the SR‐91. Ultimately, these  amendments aligned both the regular FSP and construction FSP for the same segments of SR‐91  under the same operator that provided operational advantages.      DISCUSSION:    Steve’s agreement for service on SR‐91 supporting regular FSP and construction FSP is set to  expire on September 30, 2017, and the remaining balance of the agreement is projected to run  out in July 2017 due to increased scope required to support the 91 Project construction.   Additionally, the existing agreements with Pepe’s on Beat No. 18 and Beat No. 19 expire on  June 30, 2017.      It is in the Commission’s best interest to procure service on multiple FSP beats at one time in  order to maximize staff time and outreach to prospective bidders. Staff recommends the  following actions to group the above referenced FSP agreements so that they are synchronized  for future procurement:        Amend Agreement Nos.  12‐45‐045‐00 and 12‐45‐046‐00 with Pepe’s to extend the term  of the agreements through September 30, 2017, and to add compensation in the  amount of $38,000 and $70,000, for a total amount not to exceed $1,558,000, and  $1,571,000, respectively; and   Amend Agreement No.  15‐45‐050‐00 with Steve’s to add compensation in the amount  of $197,000 to fund service on SR‐91 through September 30, 2017, for a total amount  not to exceed $2,852,057.     Hourly rates for FSP services will remain unchanged for the duration of the extended term.         174 Agenda Item 6N  Financial Information  In Fiscal Year Budget: N/A Year: FY 2017/2018 Amount: $305,000  Source of Funds:  State of California, SAFE funds, and  Mobile Source Air Pollution Reduction  Review Committee funds   Budget Adjustment: N/A  GL/Project Accounting No.: 002173 81014     201 45 81002  Fiscal Procedures Approved: Date: 02/17/2017    Attachments:   1) Draft Pepe’s Agreement No. 12‐45‐045‐04  2) Draft Pepe’s Agreement No. 12‐45‐046‐05  3) Draft Steve’s Agreement No. 14‐45‐009‐06  175 BLANK 1 Agreement No. 12-45-045-04 AMENDMENT NO. 3 TO AGREEMENT FOR FREEWAY SERVICE PATROL SERVICES FOR BEAT NO. 18 WITH PEPE’S TOWING SERVICE 1. PARTIES AND DATE This Amendment No. 3 is made and entered into as of this _____ day of ______________, 2017, by and between the RIVERSIDE COUNTY TRANSPORTATION COMMISSION (“Commission”) acting in its capacity as the RIVERSIDE SERVICE AUTHORITY FOR FREEWAY EMERGENCIES ("SAFE"), a public entity, and PEPE’S INC., a California corporation doing business as Pepe’s Towing Services ("Contractor"). SAFE and CONTRACTOR. 2. RECITALS 2.1 SAFE and Contractor have entered into an agreement dated June 12, 2012 for the purpose of providing Freeway Service Patrol (“FSP”) services on Beat No. 18 within Riverside County on behalf of the SAFE (the "Master Agreement"). 2.2 SAFE and Contractor have entered into Amendment No. 1 to the Master Agreement, dated June 30, 2015, for the purpose of extending the term of the Master Agreement and providing additional compensation for the continued provision of freeway service patrol services (“Amendment No. 1”). 2.3 SAFE has issued Change Order No. 1 effective as of August 19, 2015, to change the limits of Beat No. 18 (“CCO 1”). 2.4 SAFE and Contractor have entered into Amendment No. 2 to the Master Agreement, dated April 1, 2016, for the purpose of extending the term of the Master Agreement and providing additional compensation for the continued provision of freeway service patrol services (“Amendment No. 2”). 2.5 SAFE and CONTRACTOR now desire to amend the Master Agreement in order to extend the term of the Master Agreement and provide additional compensation for the continued provision of freeway service patrol services. 3. TERMS 3.1 The term of the Master Agreement shall be extended for an additional three (3) months ending on September 30, 2017, unless earlier terminated as 176 ATTACHMENT 1 2 provided in the Master Agreement. 3.2 The maximum compensation for Services, as that term is defined in the Master Agreement, performed pursuant to this Amendment No. 3 shall be Thirty-Eight Thousand Dollars ($38,000.00). Work shall be performed at the rates set forth in the Master Agreement. 3.3 The total not-to-exceed amount of the Master Agreement, as amended by this Amendment No. 3, shall be increased from One Million Five Hundred Twenty Dollars ($1,520,000.00) to One Million Five Hundred Fifty-Eight Dollars ($1,558,000.00). 3.4 Except as amended by this Amendment No. 3, all provisions of the Master Agreement, as amended by Amendment No. 1, CCO1, and Amendment No. 2, including without limitation the indemnity and insurance provisions, shall remain in full force and effect and shall govern the actions of the parties under this Amendment No. 3. [Signatures on following page] 177 3 SIGNATURE PAGE TO Agreement No. 12-45-045-04 IN WITNESS WHEREOF, the Parties hereto have executed this Amendment on the date first herein above written. RIVERSIDE COUNTY PEPE'S INC., a California corporation TRANSPORTATION COMMISSION d/b/a PEPE'S TOWING SERVICE ACTING IN ITS CAPACITY AS THE RIVERSIDE COUNTY SERVICE AUTHORITY FOR FREEWAY EMERGENCIES By: ____________________________ By: __________________________ Anne Mayer, Executive Director Signature __________________________ Name __________________________ Title APPROVED AS TO FORM: ATTEST: By: __________________________ By: __________________________ Best Best & Krieger LLP Counsel to the Riverside County Its: Secretary Transportation Commission 178 BLANK 1 Agreement No. 12-45-046-05 AMENDMENT NO. 4 TO AGREEMENT FOR FREEWAY SERVICE PATROL SERVICES FOR BEAT NO. 19 WITH PEPE’S TOWING SERVICE 1. PARTIES AND DATE This Amendment No. 4 is made and entered into as of this _____ day of ______________, 2017, by and between the RIVERSIDE COUNTY TRANSPORTATION COMMISSION (“Commission”) acting in its capacity as the RIVERSIDE SERVICE AUTHORITY FOR FREEWAY EMERGENCIES ("SAFE"), a public entity, and PEPE’S INC., a California corporation doing business as Pepe’s Towing Services ("Contractor"). SAFE and CONTRACTOR. 2. RECITALS 2.1 SAFE and Contractor have entered into an agreement dated June 5, 2012 for the purpose of providing Freeway Service Patrol (“FSP”) services on Beat No. 19 within Riverside County on behalf of the SAFE (the "Master Agreement"). 2.2 SAFE and Contractor have entered into Amendment No. 1 to the Master Agreement, dated May 20, 2014, to utilize the provision of Extra Work, as defined in the Master Agreement, for the Interstate 215 Central Widening Project (“Amendment No. 1”). 2.3 SAFE and Contractor have entered into Amendment No. 2 to the Master Agreement, dated June 30, 2015, for the purpose of extending the term of the Master Agreement and providing additional compensation for the continued provision of freeway service patrol services (“Amendment No. 2”). 2.4 SAFE has issued Change Order No. 1 effective as of August 19, 2015, to change the limits of Beat No. 19 (“CCO 1”). 2.5 SAFE and Contractor have entered into Amendment No. 3 to the Master Agreement, dated April 1, 2016, for the purpose of extending the term of the Master Agreement and providing additional compensation for the continued provision of freeway service patrol services (“Amendment No. 3”). 2.6 SAFE and CONTRACTOR now desire to amend the Master Agreement in order to extend the term of the Master Agreement and provide additional compensation for the continued provision of freeway service patrol services. 179 ATTACHMENT 2 2 3. TERMS 3.1 The term of the Master Agreement shall be extended for an additional three (3) months ending on September 30, 2017, unless earlier terminated as provided in the Master Agreement. 3.2 The maximum compensation for Services, as that term is defined in the Master Agreement, performed pursuant to this Amendment No. 4 shall be Seventy Thousand Dollars ($70,000.00). Work shall be performed at the rates set forth in the Master Agreement. 3.3 The total not-to-exceed amount of the Master Agreement, as amended by this Amendment No. 4, shall be increased from One Million Five Hundred One Dollars ($1,501,000.00) to One Million Five Hundred Seventy-One Dollars ($1,571,000.00). 3.4 Except as amended by this Amendment No. 4, all provisions of the Master Agreement, as amended by Amendment No. 1, Amendment No. 2, CCO1, and Amendment No. 3, including without limitation the indemnity and insurance provisions, shall remain in full force and effect and shall govern the actions of the parties under this Amendment No. 4. [Signatures on following page] 180 3 SIGNATURE PAGE TO Agreement No. 12-45-046-05 IN WITNESS WHEREOF, the Parties hereto have executed this Amendment on the date first herein above written. RIVERSIDE COUNTY PEPE'S INC., a California corporation TRANSPORTATION COMMISSION d/b/a PEPE'S TOWING SERVICE ACTING IN ITS CAPACITY AS THE RIVERSIDE COUNTY SERVICE AUTHORITY FOR FREEWAY EMERGENCIES By: ____________________________ By: __________________________ Anne Mayer, Executive Director Signature __________________________ Name __________________________ Title APPROVED AS TO FORM: ATTEST: By: __________________________ By: __________________________ Best Best & Krieger LLP Counsel to the Riverside County Its: Secretary Transportation Commission 181 BLANK 1 Agreement No. 14-45-009-06 AMENDMENT NO. 4 TO RIVERSIDE COUNTY TRANSPORTATION COMMISSION, ACTING AS THE RIVERSIDE COUNTY SERVICE AUTHORITY FOR FREEWAY EMERGENCIES AMENDED AND RESTATED AGREEMENT FOR CONSTRUCTION FREEWAY SERVICE PATROL SERVICES FOR THE SR-91 CORRIDOR IMPROVEMENT PROJECT CONSTRUCTION (91 CIP BEAT No. 1 and No. 2) AND FOR FREEWAY SERVICE PATROL SERVICES FOR BEAT No. 1 (FORMERLY BEAT No. 25) WITH E&S TOWING ENTERPRISES, INC. dba STEVE’S TOWING 1. PARTIES AND DATE. 1.1 This Amendment No. 4 to the Amended and Restated Agreement for Construction Freeway Service Patrol Services is made and entered into as of this ___ day of December, 2016, by and between the RIVERSIDE COUNTY TRANSPORTATION COMMISSION (“RCTC”), acting as the RIVERSIDE COUNTY SERVICE AUTHORITY FOR FREEWAY EMERGENCIES (“SAFE”), and E&S TOWING ENTERPRISES, INC. dba STEVE’S TOWING (referred to herein as “CONTRACTOR”). SAFE and CONTRACTOR are sometimes individually referred to herein as “Party” and collectively as “Parties”. 2. RECITALS. 2.1 WHEREAS, SAFE and the CONTRACTOR entered into those certain agreements for the provision of Construction Freeway Service Patrol Services for the State Route 91 (“SR-91”) Corridor Improvement Project (“SR-91 Project”), identified as Agreement Nos. 14-45-009-00 and 14-45-028-00 (the “Contracts”). 2.2 WHEREAS, as of January 22, 2015, SAFE and CONTRACTOR entered into that certain Amended and Restated Agreement No. 14-45-009-01 to replace and supersede, in their entirety, the Contracts (the “Restated Agreement”). 2.3 WHEREAS, effective February 2, 2015, SAFE changed the beat specifications serviced by CONTRACTOR from Beat # 25 to Beat # 1 as set forth in Contract Change Order No. 1. 2.4 WHEREAS, SAFE and CONTRACTOR have entered into an Amendment No. 1 dated April 13, 2015 for the purpose of amending the Restated Agreement to include Beat # 7. 2.5 WHEREAS, as set forth in Contract Change Order No. 2, SAFE changed (a) the beat specifications serviced by CONTRACTOR from Beat # 7 to Beat # 2, effective as of August 1, 2015, (b) the construction hours serviced by 182 ATTACHMENT 3 2 CONTRACTOR, effective as of July 13, 2015, and (c) the beat limits serviced by CONTRACTOR, effective as of August 19, 2015. 2.6 WHEREAS, as part of its construction of the SR-91 Project, RCTC will conduct closures of the eastbound and/or westbound SR-91 and occasionally and temporarily increase FSP services provided for SR-91 and surrounding areas, including detour routes. 2.7 WHEREAS, SAFE and CONTRACTOR have entered into an Amendment No. 2 dated February 18, 2016 for the purpose of amending the Restated Agreement in order to provide additional FSP services, on a temporary basis, as further described therein. 2.8 WHEREAS, SAFE and CONTRACTOR have entered into an Amendment No. 3 dated February 9, 2017 for the purpose of amending the Restated Agreement in order to provide additional compensation for the continued provision of FSP services beyond the original anticipated completion date of the SR-91 Project, and to amend the termination date of the Restated Agreement to provide for a new termination date of September 30, 2017. 2.8 WHEREAS, SAFE and CONTRACTOR now desire to amend the Restated Agreement in order to provide additional compensation for the continued provision of freeway service patrol services. 3. TERMS. 3.1 CONTRACTOR shall continue to provide the FSP services as required by SAFE in accordance with the terms and conditions of the Restated Agreement, as previously amended. 3.2 The maximum compensation for Services, as that term is defined in the Restated Agreement, performed pursuant to this Amendment No. 4 shall be One Hundred Ninety-Seven Dollars and Sixty Cents ($197,000.60). Work shall be performed at the rates set forth in the Restated Agreement. 3.3 The total not-to-exceed amount of the Restated Agreement, as amended by this Amendment No. 4, shall be increased from Two Million Six Hundred Fifty-Five Thousand Fifty Seven Dollars and Sixty Cents ($2,655,057.60) to Two Million Eight Hundred Fifty-Two Thousand Fifty Seven Dollars and Sixty Cents ($2,852,057.60). 3.4 Notwithstanding any terms or conditions in the Restated Agreement to the contrary, Services provided under this Amendment No. 4 by CONTRACTOR shall be performed and provided pursuant to and in accordance with the terms of the Restated Agreement, as previously amended and as amended by this Amendment No. 4. 183 3 3.6 Except as amended by this Amendment No. 4, all provisions of the Restated Agreement, as previously amended, including without limitation the indemnity and insurance provisions, shall remain in full force and effect and shall govern the actions of the Parties under this Amendment No. 4. IN WITNESS WHEREOF, the Parties hereto have executed this Amendment No. 4 (AGREEMENT 14-45-009-06) on the date first herein above written. RIVERSIDE COUNTY TRANSPORTATION E&S TOWING ENTERPRISES, INC., COMMISSION ACTING AS THE dba STEVE’S TOWING RIVERSIDE COUNTY SERVICE AUTHORITY FOR FREEWAY EMERGENCIES By: ________________________ By: ________________________ Anne Mayer, Executive Director Signature ________________________ Name ________________________ Title APPROVED AS TO FORM: Attest: By: ____________________________ By: ________________________ Best Best & Krieger LLP, Counsel to the Riverside County Its: Secretary Service Authority for Freeway Emergencies * A corporation requires the signatures of two corporate officers. One signature shall be that of the chairman of board, the president or any vice president and the second signature (on the attest line) shall be that of the secretary, any assistant secretary, the chief financial officer or any assistant treasurer of such corporation. If the above persons are not the intended signators, evidence of signature authority shall be provided to the Commission. 184 BLANK AGENDA ITEM 6O BLANK Agenda Item 6O  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM: Western Riverside County Programs and Projects Committee  Brian Cunanan, Commuter and Motorist Assistance Manager  THROUGH: Anne Mayer, Executive Director  SUBJECT: Funding Agreement with the California Highway Patrol for Freeway Service  Patrol Supervision  WESTERN RIVERSIDE COUNTY PROGRAMS AND PROJECTS COMMITTEE AND STAFF  RECOMMENDATION:  This item is for the Commission to:  1)Approve Agreement No. 16‐45‐094‐01, Amendment No. 1 to Agreement No. 16‐45‐094‐00, with the California Highway Patrol (CHP) to provide supervision and operation of the Freeway Service Patrol (FSP) program in Riverside County for an additional amount of $731,115, and a total amount not to exceed $1,524,296; and 2)Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreement on behalf of the Commission. BACKGROUND INFORMATION:  The Riverside County FSP program is operated as a joint venture between the California  Department of Transportation (Caltrans), CHP, and the Commission in its capacity as the Service  Authority for Freeway Emergencies (SAFE).  The Riverside County SAFE is responsible for  administering the program, and the CHP provides daily field supervision to ensure service  performance.  Below is a sample of the services performed by FSP CHP officers:  In‐field Supervisory Services Provided During FSP Operating Hours (not all‐inclusive):  •Provide in‐field, on scene, program supervision; •Provide on‐the‐spot decisions regarding incidents occurring in the field; •Enforce program rules and guidelines through in‐field supervision; •Conduct all investigations with regard to equipment, personnel, damage, and complaints; •Inspect tow trucks for regulatory compliance; •Serve as a FSP liaison between agencies, such as with other CHP personnel, Caltrans, cities, counties, etc.; and •Be available to the public for FSP concerns, questions, comments, complaints. 185 Agenda Item 6O  Administrative Supervisory Services Provided During Non‐FSP Hours (not all‐inclusive):  • Initiate background checks and conduct testing, fingerprinting, and certifications for  new FSP drivers;  • Prepare training class materials (binders and maps);   • Conduct training classes;  • Track extra truck time, fines, penalties, and certificates (driver license, DL64, medical  cards, and motor carrier permits);  • Prepare monthly billing;   • Maintain the standard operating procedures manual;   • Maintain drop point maps to include changing local regulations;   • Monitor the automatic vehicle locator system, tablets, radios, and other electronic FSP  equipment;   • Maintain required field‐ready equipment such as backup tablets, radios, safety vests,  and magnetic signs;   • Participate in the RFP process for new contractors;   • Maintain driver files and records for all FSP drivers;   • Track FSP drivers’ tenure and performance with regard to driver recognition and  awards; and   • Attend and occasionally host various FSP‐related required meetings and trainings  (Technical Advisory Committee and quarterly drivers’ meetings).    In June 2016, the Commission approved an agreement with the CHP to provide overtime  supervision and operation of an FSP program in Riverside County for a three‐year term (FY17‐  FY 19) in an amount not to exceed $793,181.  As part of this agreement, budget allocations to  support the Commissions’ regular FSP program and for the projected hours needed to support  State Route 91 Corridor Improvement Project (91 Project) construction FSP services were  established.       DISCUSSION:     Upon the anticipated completion of the 91 Project and subsequent opening of the 91 Express  Lanes, the Commission’s FSP program will expand its coverage beyond the general purpose  lanes as part of the regular FSP program into the express lanes on SR‐91 (Express Lane FSP).  As  such, the CHP supervision agreement will need to be updated to provide a budget allocation for  this service schedule.  After a three‐month ramp up period, service hours for the express lanes  will be Monday through Friday, 5:00 a.m. to 10:00 a.m. and 1:00 p.m. to 8:00 p.m., Saturdays  and Sundays, 1:00 p.m. to 7:00 p.m. Unlike regular FSP, Express Lane FSP will not rove but  instead be strategically staged during service hours and will be immediately dispatched by the  Toll Operating Center upon spotting an incident from the camera feeds lining the express lane  facilities.  Express Lane FSP will also perform a sweep of the entire length of the beat at the  start and end of shift, and every two hours in between or less frequently as determined by SAFE  and/or CHP.       186 Agenda Item 6O  As the local SAFE, the Commission is responsible for providing a comprehensive Motorist Aid  program for Riverside County that currently consists of a 511 traveler information system, FSP,  and a call box program.  Recent reductions to the call box system, in response to declining  demand, will result in savings from reduced operations and maintenance costs to be realized in  future fiscal years.  While the projected net savings may not entirely fund a traditional FSP beat  service (two to three trucks patrolling peak AM and PM periods) expansion into a new area, it  can support an FSP service expansion limited to optimize traffic flow related to the arrival and  departure of regional traffic attending large scale events/venues in the Coachella Valley (Event  FSP).      In addition to updating the agreement to support CHP supervision for Express Lane FSP and for  Event FSP in the Coachella Valley, the allocations for 91 Project Construction FSP service need  to be adjusted due to an increase in scope required to support the project.  A summary of the  cost for the required CHP supervision of the FSP program is presented below:        Staff recommends amending the existing CHP Agreement No. 16‐45‐094‐00 to include  additional CHP resources for the 91 Project construction FSP, Express Lane FSP, and Event FSP  service and to add funds in the amount of $731,115 for a total amount not to exceed  $1,524,296.      Financial Information  In Fiscal Year Budget: Yes  N/A Year: FY   2016/2017  FY 2017/2018+ Amount: $540,764  $983,552  Source of Funds: SAFE Funds, 91 CIP Design‐Builder  Reimbursement, Toll Revenue Budget Adjustment: No  N/A  GL/Project Accounting No.: 002173 81016 201 45 81016  009199 81016 591 31 81016  Fiscal Procedures Approved: Date: 02/17/2017      187 BLANK AGENDA ITEM 6P BLANK Agenda Item 6P  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM: Western Riverside County Programs and Projects Committee  Brian Cunanan, Commuter and Motorist Assistance Manager  THROUGH: Anne Mayer, Executive Director  SUBJECT: IE Commuter System Enhancements    WESTERN RIVERSIDE COUNTY PROGRAMS AND PROJECTS COMMITTEE AND STAFF  RECOMMENDATION:    This item is for the Commission to:    1) Approve Agreement No. 14‐41‐156‐02, Amendment No. 2 to Agreement No.   14‐41‐156‐00, with Media Beef, Inc. for programming enhancements and website  administration services for the Commuter Assistance Program (CAP) in the amount of  $193,700, plus a contingency amount of $19,370, for an additional amount of $213,070,  and a total amount not to exceed $1,151,670;   2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute  the agreement on behalf of the Commission; and  3) Authorize the Executive Director or designee to approve the use of contingency amount  as may be required for these services.    BACKGROUND INFORMATION:    In July 2014, the Commission approved an agreement with Media Beef for the purpose of  providing programming and website administration services supporting the IE Commuter and  IE511 systems.  While each program is technically funded separately (Commuter Assistance for  IE Commuter and Motorist Assistance for IE511) and utilize separate software platforms,  ultimately both programs serve and have been marketed through the CAP.  The overarching goal  of both programs is mobility enhancement via the delivery of real time traffic information and  alternative mode choice.  Media Beef has provided the technical services involved with the  development, maintenance, operations, and deployment of new system enhancements for both  software platforms.      IE511 is the Commission’s traveler information system and has been operated by the Commission  on a 50/50 cost sharing agreement with the San Bernardino County Transportation Authority  (SBCTA) since 2010.  IE511 is accessible across multiple platforms – interactive voice recognition  (IVR) telephone system and comprehensive real time traffic and incident data available through  188 Agenda Item 6P  the website (IE511.org) and companion mobile application.  IE511 continues to be an up‐to‐date,  useful, and relevant source of information for commuters.   IE Commuter, which is the Commission’s rideshare system and brand that commuters and  employers in the Inland Empire have come to know and use, was launched in 2014.  In addition  to providing ridematching and trip planning service to commuter constituents of Riverside and  San Bernardino Counties, the system also provides a variety of services, resources, and tools to  help employer partners promote alternative modes of transportation to their employees.  IE  Commuter is currently deployed for desktop use and is not currently built to mobile application  specifications.  This program is also operated on a 50/50 cost sharing agreement with SBCTA.    DISCUSSION:    The proliferation of smartphone devices has drastically changed the way people consume  information.  The availability and use of mobile applications has expanded tremendously over  the years and has become a very relevant digital touchpoint.  This also changed the way  marketing programs are developed and deployed, since it is now common practice to market  services and products through “in‐app” advertising.  As an example and specific to the  Commission, the IE511 mobile application has accumulated more than 54,000 downloads since  its original deployment in 2012.  Staff is seeking to replicate this success with its rideshare  program.      As such, the primary element of the staff recommendation herein is for the Commission to  approve the funds necessary to develop and deploy an IE Commuter mobile application.  The  ability for the Commission to reach its constituents and program participants via a mobile device  will create synergies in operations and program performance that will allow the program to  continue to grow and also provide a complete and consistent user experience across multiple  platforms.     The proposed IE Commuter mobile application will not just help determine the best route or most  current freeway information, but will focus on helping users find their best commute option with  personalized ridematching results and real time transit options based on the users’ established  home/work commute and schedules or current location.  The proposed application will also  provide a much more convenient way for IE Commuter incentive participants to log their  rideshare trips ($2/day incentive) and easily access discounts and offers powered by the  Commission’s Rideshare Plus program, which is the incentive/reward program for long‐term  alternative commute users.  Lastly, leveraging the notifications feature available on smartphones,  strategic messages can be deployed to promote mobility and inform users of relevant programs  and services of value available to them.  For example, if the app detects a user is on the SR‐91 in  slow traffic, it can be programmed to prompt a message about the 91 Express Lanes, or perhaps  if on Interstate 215, it could prompt a 91/Perris Valley Line message.      In addition to expanding and enhancing the options in which commuters can access and interact  with IE Commuter, a restructuring of the CAP incentive program to include a more sustainable  vanpool incentive will also require additional programming resources.  A traditional vanpool  189 Agenda Item 6P  consists of a group of commuters who voluntarily participate in an arrangement to travel in a  single van to and from work and share the lease cost of the van as well as other expenses (fuel,  car washes, etc).  The existing CAP vanpool incentive is limited to $1,800 to a vanpool over a nine‐ month period, participation in which has dropped drastically since neighboring transportation  counties have deployed a National Transit Database (NTD) based vanpool subsidy program.  This  is a model the CAP vanpool incentive plans to transition to in FY 2017/18.     In doing so, the Commission would provide a monthly incentive, consistent with surrounding  counties, of $400 per month (off the lease price) to vanpools in perpetuity based on federal  criteria and reporting vanpool monthly statistics into the NTD like other transit modes.  Since  vanpools are inexpensive to operate and generate high passenger miles, hours, and trips  compared to other transit modes, the federal transit revenue generated as a result of the  increase in NTD statistics is at a minimum average of 2:1 ($2 return for every $1 of public funds  expended on the program). Vanpools continue to fill in the gaps and serve as a great high density  transportation option that bus or rail transit does not serve.  As such, another element of the  staff recommendation herein is for the Commission to approve the funds necessary to develop  and deploy an IE Commuter‐hosted vanpool NTD module to support the required tracking (across  multiple platforms) and reporting to the NTD to transition to a vanpool NTD program subsidy.      Lastly, over the last two and half years of use, feedback on the IE Commuter system has been  collected from commuters, employers, as well as administration staff that use the system on a  regular basis.  In general, the scope of the requests involves updates to streamline access to the  system (Facebook single sign on, password reset via mobile phone), employee transportation  survey forms, and administrative staff processes, as well as enhancing report functionality and  availability to employer transportation coordinator users.  This list of program modification and  enhancements comprises the final element of the staff recommendation.      Media Beef has submitted a cost estimate for the proposed services that staff determined to be  fair and reasonable. Compensation rates for services provided under this amendment will remain  consistent with the rates included in the current contract.    Staff recommends amending the existing Media Beef Agreement No. 14‐41‐156‐00 to include  additional resources for the aforementioned system enhancements and programming elements  in the amount of $193,700 and a contingency amount of $19,370 for a total amount not to exceed  $1,151,670.    190 Agenda Item 6P  Financial Information  In Fiscal Year Budget: Yes  N/A Year: FY   2016/2017  FY 2017/2018+ Amount: $153,700  $  59,370  Source of Funds:  2009 Measure A Western County CAP,  Service Authority Freeway Emergencies,  SBCTA Funds   Budget Adjustment: No  N/A  GL/Project Accounting No.: 263 41 65520 (002126,002127,632107)   202 45 65520 (452131,452124)  Fiscal Procedures Approved: Date: 02/17/2017    191 AGENDA ITEM 7 Agenda Item 7  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM:  Budget and Implementation Committee  Theresia Trevino, Chief Financial Officer  Michele Cisneros, Deputy Director of Finance  THROUGH: Anne Mayer, Executive Director  SUBJECT: Proposed Policy Goals and Objectives for Fiscal Year 2017/18 Budget  BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION:  This item is for the Commission to:  1)Review and approve the proposed Commission Policy Goals and Objectives for FY 2017/18; and 2)Forward to the Commission for final action. BACKGROUND INFORMATION:  The initial step in the budget process is to develop policy goals and objectives for the next fiscal  year that are consistent with the Commission’s overall strategic direction.  Most importantly, the  adoption of the Commission Policy Goals and Objectives for the annual fiscal year budget  provides an opportunity to match the Commission’s spending priorities in a manner that  implements the promises made to the citizens of the county of Riverside in both Measure A  Expenditure Plans and fulfills other Commission responsibilities.    The Commission is driven by four clear objectives for the people of Riverside County and the  transportation system upon which they rely:  Quality of life; Operational excellence; Connecting the economy; and Responsible partner. The Commission’s eight long‐term policy goals that support the Commission’s objectives for  transportation in Riverside County are:  Promote mobility; Mitigate and address the impact of goods movement; Encourage economic development; 192 Agenda Item 7   Ensure improved system efficiencies;   Foster environmental stewardship;   Support transportation choices through intermodalism and accessibility;    Prioritize public and stakeholder communications; and   Maintain fiscal and organizational accountability.      Upon approval these Commission Policy Goals and Objectives will be linked to the individual  department goals and objectives included in the FY 2017/18 Budget.    Attachment:  Proposed Commission Policy Goals and Objectives for FY 2017/18 Budget  193 Commission Policy Goals and Objectives The Commission is driven by four clear objectives for the people of Riverside County and the transportation system upon which they rely: Quality of Life RCTC is focused on improving life for the people of Riverside County and empowering them to live life at their pace. • Choice: RCTC empowers the residents of Riverside County to choose how to safely get where they are going. • Environmental Stewardship: RCTC protects and preserves the County’s environment for our residents. • Mobility: RCTC provides access, equity, and choice in transportation; RCTC is the partner in mobility. • Access: RCTC projects are the connection to schools, community institutions, parks, and shopping in the community. Operational Excellence RCTC is a responsible and conservative steward of taxpayer dollars. • State of Good Repair: RCTC invests in road safety and maintenance in its residents’ neighborhoods. • Promises Fulfilled: Projects are completed on-time, on-budget; RCTC delivers on its promises as a steward of Riverside County residents’ investment. • Innovation: Program and project delivery innovations drive results, savings, and greater economic opportunities for Riverside County residents. • Information: RCTC operations are transparent; customers get fast, timely, quality service. Connecting the Economy RCTC drives economic growth in Riverside County. • Workforce Mobility: RCTC improves the economy by creating a robust workforce to workplace system; RCTC moves the economy of Riverside County. • Population Growth: Since 1976, RCTC has been responsible for connecting our County’s economy as the County’s population has quadrupled from 550,000 to 2.3 million today. • Economic Impact: $2.8 billion has been invested in the County’s economy thanks to Measure A, which has a multiplier impact in terms of jobs and economic opportunity throughout Riverside County. Responsible Partner RCTC partners with local, regional, and state governments to deliver road and rail projects. • Streets and Roads: RCTC invests in local priorities for maintaining streets and roads and fixing potholes. • Transit: RCTC is a partner with transit operators to provide residents mobility choice, flexibility, and access. • Active Transportation Facilities: RCTC is a partner with agencies within the County to promote active transportation alternatives, including the building of regional trails and bicycle and pedestrian facilities in accordance with local general master and active transportation plans. • Grants: RCTC is a steward of state and federal grants to improve our communities. • Local Measure A Value: RCTC invests Measure A dollars into projects and programs that benefit local communities throughout the County. Embedded in the work programs for the Commission’s lean and efficient staff are eight long-term policy goals that support the Commission’s objectives for transportation in the County: 1. Promote mobility; 2. Mitigate and address the impact of goods movement; 3. Encourage economic development; 4. Ensure improved system efficiencies; 5. Foster environmental stewardship; 6. Support transportation choices through multimodalism and accessibility; 7. Prioritize public and agency communications; and 8. Maintain fiscal and organizational accountability. 194 The policy goals and objectives stated above provide the framework for the work plan in the FY 2017/18 budget and are elaborated below: Promote Mobility The Commission, in cooperation with local, state, and federal agencies and other partners, will strive to create a transportation system that promotes efficient mobility within Riverside County and Southern California by providing multiple travel choices. • Continue to aggressively pursue completion of the environmental, design, and construction processes on key components of the Western Riverside County Highway Delivery Plan. • Commence the first ten-year update of the 2009 Measure A Expenditure Plan, as required by the ordinance, and initiate the development of a county-wide transportation plan. • Enhance corridor mobility and traveler choice with the operation of the tolled 91 Express Lanes and the continued development of tolled express lanes on I-15 and other facilities. • Advocate efforts to streamline and modernize CEQA and NEPA to improve the Commission’s ability to deliver critical projects for the public and reduce costs, time and delays associated with project delivery. • Continue to provide leadership in the planning and development of the Coachella Valley-San Gorgonio Pass corridor rail service and to seek grant opportunities with federal and state agencies for project funding. • Work closely with partners in the Coachella Valley, including CVAG and SunLine Transit Agency (SunLine) to ensure the implementation of Measure A funding priorities. • Continue to collaborate with state and federal agencies and local partners to develop, fund, and deliver projects programmed in the STIP, Federal Transportation Improvement Program (FTIP), Proposition 1B bond programs, Active Transportation Program (ATP), Cap and Trade programs, and Measure A programs as well as other high priority regional projects. • Maximize obtaining all available transportation funds and strategically program funds to meet funding and allocation deadlines and to prevent the lapse and loss of funds. • Leverage the effective application and use of Measure A Western County regional arterial funds with local, state and federal funds to deliver eligible regional arterial projects. • Work closely with local jurisdictions to implement TUMF regional arterial program projects and facilitate the delivery of eligible arterial improvements in Western County. • Actively participate in the SR-91 Advisory Committee to facilitate near and long-term improvements to SR- 91, enhancing intercounty mobility choices between Riverside and Orange counties. • Continue to coordinate and provide public access to traveler information via a 511 system and focus commuter assistance outreach efforts under the IE Commuter brand. • Continue working with SCRRA to support the new PVL commuter rail service. • Continue to develop transit services that provide connectivity for where Riverside County residents need to go. • Consider future rail expansion opportunities as guided by the Next Generation Rail Study. • Consider future opportunities to implement tolling and innovative financing of new improvements. Mitigate and Address the Impact of Goods Movement The Commission will work with federal, state, and local governments, and community partners to facilitate the movement of goods and services to, within, and through Riverside County, recognizing the vital role goods movement mobility plays in the economic health of the County, the State, and the nation – as well as the health, mobility, and safety impacts it can have on peoples and businesses. • Partner to deliver projects on the Commission’s approved, high-priority railroad grade separation list to mitigate the impact of increased goods movement flow through Riverside County. • Work with federal and state agencies regarding the nomination and implementation of projects for FAST Act funding. • Encourage Congress to prioritize funds for the nation’s multimodal national goods movement network. 195 • Remain committed to a regional approach regarding goods movement issues in order to maximize funding from state and federal sources to goods movement needs in southern California. • Continue working with the Port of Los Angeles and Port of Long Beach (Ports) and regional transportation commissions to develop a funding mechanism for needed projects and mitigation on a regional basis. • Continue to provide input to the National Freight Advisory Committee regarding the establishment of a national freight network and California State Freight Advisory Committee regarding regional freight priorities. Encourage Economic Development Transportation decisions will consider the economic benefits derived from any improvement, and, where feasible and practical, will pursue transportation alternatives that enhance or complement economic development. • Commit to seek opportunities related to transportation projects that will create jobs and improve the economic base in the County. • Support local agencies in the design and construction of interchanges that are in proximity to operating and planned regional economic centers and developments. • Support local projects, consistent with countywide transportation goals and Commission commitments, which enhance business development, local employment, educational institutions, and area tourism. • Support local venues and attractions with the implementation of expanded FSP service to optimize traffic flow, such as traffic related to large scale events in the Coachella Valley. Ensure Improved System Efficiencies The Commission will select projects and allocate funds in a manner that will improve safety, reduce congested traffic corridors, and provide travel choices. • Advocate the development and use of advanced technologies for transportation applications that are affordable and practical. • In partnership with SBCTA and other regional agencies, leverage a regional 511 system for efficient deployment of real-time traffic information available to commuters for the purpose of reducing congestion on a regional scale. • Assure the effectiveness of transit planning through coordination with the County’s eight transit operators, Citizens’ Advisory Committee, and annual SRTP process with a goal toward promoting program productivity, efficiency, and effectiveness. • Provide innovative commuter rideshare programs to reduce single occupant vehicle trips. • Collaborate with local jurisdictions, Caltrans, and the CHP to continue efficient delivery of a comprehensive motorist aid system which includes a 511 traveler information service, a call box program, and a FSP program, including temporary services in freeway construction zones. • Leverage resources to incorporate park and ride facilities and additional connecting bus service at Metrolink stations that may have available capacity. • Continue working with Caltrans to monitor traffic conditions for the purpose of focusing transportation funds on congested corridors and system deficiencies. • Collaborate with Caltrans and regional agencies in developing resources for preservation and maintenance of the highways and regional arterials. • Support the implementation of active transportation facilities that support transportation alternatives and enhance the transportation system. • Continue to deliver the “Annual State of Public Transit Report” to the Commission in order to assess accomplishments and potential improvements. Foster Environmental Stewardship The Commission will achieve its mobility goals while promoting environmental stewardship and protecting the area’s natural resources and quality of life. 196 • Continue working with the Western Riverside County Regional Conservation Authority (RCA), Caltrans, and state/federal resource agencies to implement the Multi-Species Habitat Conservation Plan (MSHCP). • Conduct a regional truck study, in accordance with a settlement agreement, for the potential development and implementation of a regional logistics mitigation fee. • Collaborate with SCAG, South Coast Air Quality Management District (SCAQMD), sub-regional agencies, and local jurisdictions to implement the current RTP and SCS that meets regional air quality goals, conformity guidelines, and Sustainable Communities and Climate Protection Act (SB375) GHG reduction targets for the SCAG region. • Support a variety of outreach channels and educational programs that promote the benefits of ridesharing, public and specialized transit, rail, and availability of commuter resources for the purposes of reducing vehicle trips, vehicle miles traveled, and emissions. • Facilitate private/public use of clean fuels technology. • Continue to develop sustainable and green commuter rail stations and provide upgrades and rehabilitation projects to reduce the environmental impact of the existing stations. Support Transportation Choices through Multimodalism and Accessibility County residents will be served, where economically feasible, through the development of transportation alternatives and travel options that consider the needs of a wide range of citizens. • Work with transit providers and local social service agencies to provide specialized transit service to meet a broad spectrum of socio-economic transit needs of seniors, veterans, persons with disabilities, and low income residents. • Leverage commuter and motorist assistance outreach channels in order to increase the awareness and use of alternative commuting modes. • Implement the Commission’s commuter rail SRTPs and SCRRA’s plan for Metrolink commuter rail services. • Continue to pursue the goals and objectives as outlined in an update of the Coordinated Public Transit- Human Services Transportation Plan (Coordinated Plan) for the County related to a unified, comprehensive but flexible strategy for transportation service delivery to address transportation gaps between current services and needs of elderly individuals, persons with disabilities, and individuals of limited income. • Enhance security, surveillance, and emergency response capabilities of County transit facilities and roadway infrastructure through proactive planning, interagency coordination, and investment. • Collaborate with public transit operators to ensure connecting bus service to new transit stations. • Collaborate with public transit operators to provide equitable fares and access to fare media through the support of systems that accept cash as well as mobile or on-line media. Prioritize Public and Stakeholder Communications The Commission will communicate in a timely, informative, and accurate manner with the public and stakeholders to encourage informed public participation in the Commission’s decision-making processes. The Commission will provide excellent customer and constituent services and will demonstrate transparency and accountability in its communications. • Engage with new and traditional media to educate and inform the public of the Commission’s activities and transportation issues in Riverside County. • Enhance access to public information through a broad array of communication platforms (e.g., website, social media, annual report, monthly newsletter, television, Speakers Bureau, print media, radio, etc.). • Conduct comprehensive public opinion research to determine priorities and attitudes of Riverside County residents and stakeholders regarding transportation needs. • Closely engage Riverside County’s legislative delegations regarding transportation issues. • Develop an effective long-range legislative strategy regarding local, state, and federal funding and policy. • Protect and enhance flexibility in the Commission’s use of state and federal transportation revenue in addressing regional priorities and needs. 197 • Explore local options for sustainable funding in addressing long-term transportation and quality-of-life needs for the County. • Pursue policy objectives contained in the Commission’s comprehensive adopted legislative platforms. • Keep the public informed about construction-related impacts from projects. • Develop and execute a long-term communications and customer engagement strategy for the purposes of public education, engagement, and customer service. • Develop and implement express lane marketing and promotion campaigns for the 91 Express Lanes to increase customer accounts and lane usage. • Provide excellent customer service to 91 Express Lanes customers. Maintain Fiscal and Organizational Accountability As the steward of local, state, and federal resources, the Commission will develop and maintain financial and administration policies that promote fiduciary responsibility and organizational excellence. Financial Planning Policies • Administrative costs, including salaries and benefits, shall be funded by allocations from Measure A, LTF, FSP, SAFE, and TUMF funds. • The Commission shall budget no more than one percent (1%) of Measure A sales tax revenues for administrative salaries and benefits. • Administrative program delivery costs will be budgeted at whatever is reasonable and necessary, but not to exceed four percent (4%) of Measure A sales tax revenues (inclusive of the one-percent salary limitation). • The Commission shall budget 100% of the annual payment related to the Commission’s proportionate share of the net pension liability. • The Commission shall budget 100 percent of the annual required contribution related to the postretirement health care benefits. • The Commission shall utilize unexpended 1989 Measure A funds only for projects and programs included in the 1989 Measure A. Sales tax revenues from the 2009 Measure A shall be expended only for projects and programs included in the 2009 Measure A. • Amounts will be budgeted by fiscal year for multi-year projects, based on best available estimates, with the understanding that, to the extent actuals vary from those estimates and the project is ongoing, adjustments will be made on a continual basis. • The fiscal capital budget should be consistent with the strategic plan and deviations appropriately noted, explained, and justified. • A balanced budget shall be adopted annually with operating and capital expenditures and other financing uses equal to or less than identified revenues and other financing sources as well as available fund balances. Revenue Policies • Sales tax revenue projections will be revised semi-annually to ensure use of current and relevant data. Staff may adjust annual amounts during the budget preparation process to reflect the most current economic trends. • A strategic application of local funding sources will be used to maximize federal and state funding of projects. • Fiduciary responsibility regarding Western County TUMF revenues shall be exercised, and revenues will be allocated pursuant to Commission direction and the approved 2009 Measure A. • Adopted toll revenue policies will establish congestion pricing in order to optimize throughput on toll facilities while generating revenue to meet all financial commitments. 198 • Revenues generated from the operation of toll facilities will be available for expenses related to: o Debt issued to construct or repair any portion of the toll facility, payment of debt service, and satisfaction of other covenants and obligations related to indebtedness of the toll facility, including applicable reserves; o Development, maintenance, repair, rehabilitation, improvement, reconstruction, administration, and operation of the toll facilities, including toll collection and enforcement and applicable reserves; and o Projects within the corridor from which the revenue was generated. • Proceeds from the disposition, in accordance with federal, state and local regulations, of excess properties owned by the Commission will be returned to the programs which provided the funding sources for the property acquisition. Debt Management Policies • The Debt Management Policy, as revised on September 14, 2016, and the Interest Rate Swap Policy, as adopted July 12, 2006, shall be updated as necessary for matters related to sales tax revenue and toll- supported indebtedness. • Outstanding sales tax revenue debt shall not exceed $975 million, in accordance with Measure K approved by a majority of the voters in November 2010. • Toll-supported debt may be issued for specific highway projects and may comprise toll revenue bonds and federal loans. • The Commission will maintain 2.0x debt ratio coverage on all senior sales tax revenue debt and 1.3x debt ratio coverage on all toll-supported debt. • Debt issuance will be for major capital projects including engineering, right of way, construction, and design-build. Operating requirements, if any, must be paid from current ongoing revenues and may not be financed except for initial toll operations. • Costs of issuance, including the standard underwriter’s discount, will not exceed two percent (2%). • The Commission may enter into interest rate swaps to better manage assets and liabilities and take advantage of market conditions to lower overall costs and reduce interest rate risk. • While it is the intent of the Commission to establish a cash debt reserve for long-term bond issuance, as necessary, surety bonds can be obtained when beneficial to the Commission. • All sales tax revenue debt must mature prior to the termination of 2009 Measure A on June 30, 2039. • All toll-supported debt must mature prior to the expiration of toll facility agreements. Expenditure/Expense Accountability Policies • Established priorities for planning and programming of capital projects will be reviewed annually with the Commission. • Actual expenditures/expenses will be compared to the budget on at least a quarterly basis, and significant deviations will be appropriately noted, explained, and justified. • Operations and maintenance agreements for toll operations will be implemented, and related costs will be compared to toll financing assumptions. Reserve Policies • The Commission will maintain program reserves in accordance with Measure A and TDA policies and guidelines. • The Commission will establish and maintain a transit operator’s reserve of ten percent (10%) for the Coachella Valley and Palo Verde Valley. Additionally, a ten percent (10%) reserve will be established and maintained for each of the Western County transit operators (public bus and commuter rail). • The Commission will establish and maintain reserves for toll operations, capital improvements, and debt 199 service in accordance with toll-supported debt agreements. Cash Management and Investment Policies • Where possible, the Commission will encourage receipt of funds by wire transfer to its accounts. • Balances in the bank operating account will be maintained at the amount necessary to meet monthly expenditures/expenses. • Construction and operating funds will be invested per the Commission’s established Investment Policy, as revised on April 13, 2016, emphasizing in order of priority: 1) safety, 2) liquidity, and 3) yield. • Cash disbursements to local jurisdictions and vendors/consultants will be completed in an expeditious and timely manner. Procurement Policies • The Commission will conduct outreach to businesses and contractors located in the County regarding opportunities to provide the Commission with competitive and qualified goods and/or services. • The Commission will continuously evaluate its procurement program and policies to ensure competitive, transparent, objective, and fair selection processes. • The Commission will provide vendor access to contracting opportunities. Auditing, Accounting, and Financial Reporting Policies • The Commission will maintain an ERP system that integrates project and toll operations accounting needs and improves accounting efficiency. • The Commission will issue a Comprehensive Annual Financial Report (CAFR); separate financial reports for the LTF, STA, Proposition 1B Rehabilitation and Security Project Accounts, Low Carbon Transit Operations Program (LCTOP), and toll operations; and the State Controller’s Transportation Planning Agency Financial Transactions Report and Government Compensation in California Report. • An audit is to be conducted annually on the Commission’s accounting books and records. As long as the Commission has outstanding bonds and federal loans, an independent accounting firm must conduct the audit. • The Commission is responsible for ensuring that audits of Measure A and TDA funding recipients are completed and reviewed for compliance and other matters in a timely manner. Human Resources Management Policies • While accommodating the assumption of toll operation responsibilities, Commission staffing levels will be consistent with the intent of its enabling legislation, which envisioned a small, but effective staff. • Contract staff and consultants will be used to augment staff efforts as much as necessary to support programs or workloads, which do not appear to be of a permanent nature. Information Technology Management Policy • Significant effort will be made to maintain efficient and cost-effective technology infrastructure by continuously upgrading network equipment and software to ensure quality performance, productivity, and connectivity among staff, other agencies, toll operator, and the public. Network security will continue to be a top priority to maintain the integrity of the Commission’s network and information. 200 Linking Commission Policy Goals and Departmental Goals and Objectives The following matrix (Table 20) illustrates the linkage of the Commission’s overall policy goals described in this section to the individual departmental goals and objectives included in Section 6. Table 20 – Relationship between Commission and Departmental Goals Department Mobility Goods Movement System Efficiencies Environmental Stewardship Economic Development Intermodalism & Accessibility Communications Fiscal & Organizational Management Services Executive Management X X X X X X X X Administration X X External Affairs X X X X X Finance X Regional Programs Planning and Programming X X X X X X X X Rail Maintenance and Operations X X X X X Public and Specialized Transit X X X X X Commuter Assistance X X X X X X Motorist Assistance X X X X X X Toll Operations X X X X X X X X Capital Project Development & Delivery X X X X X X X X 201 Budget Policy Goals and Objectives Fiscal Year 2017/18 Budget Development Commission Policy Goals •Workshop •Guiding policies •Goals and Objectives Department Goals and Objectives •Specific to department or program •Correlate to guiding policies Budget Development and Adoption •Public hearings open in May •Adopt budget by June 15th Commission Objectives Quality of Life •Choice •Environmental Stewardship •Mobility •Access Operational Excellence •State of Good Repair •Promises Fulfilled •Innovation •Information Connecting the Economy •Workforce Mobility •Population Growth •Economic Impact Responsible Partner •Streets and Roads •Transit •Active Transportation •Grants •Local Measure A Value Commission Long-Term Policy Goals Policy GoalsMobility Goods Movement Economic Development System Efficiencies Environmental Stewardship Intermodalism and Accessibility Communications Accountability Summary of Changes to Goals Deletions •Completed projects •More appropriate as departmental goal(s) •Redundancy Revisions •Concise statements •Combining similar goals Additions •Economic Development (1) •Environmental Stewardship (1) •Intermodalism (1) •Communications (3) Themes Next Steps Final Budget May 22 –B&I continues public hearing and reviews proposed budget June 14 –Commission closes public hearing and adopts budget Draft Proposed Budget April 24 –B&I reviews Executive Summary May 10 –Commission opens public hearing and reviews Executive Summary Development of Budget Departmental budgets, including linkage to Commission policy goals Compilation and review of budgets AGENDA ITEM 8 Agenda Item 8  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM:  Budget and Implementation Committee  Aaron Hake, External Affairs Director  Marla Dye, Senior Management Analyst  THROUGH: Anne Mayer, Executive Director  SUBJECT: Agreement for Visual Identity and Website Design and Maintenance Services  BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION:  This item is for the Commission to:  1)Award Agreement No. 17‐14‐054‐00 to Celtis Ventures, LLC for the provision of visual identity and website design and maintenance services for a three‐year term, and one, two‐year option to extend the agreement, in an amount not to exceed $571,000; 2)Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreement, including option years, on behalf of the Commission; and 3)Forward to the Commission for final action. BACKGROUND INFORMATION:  The 2015 RCTC Strategic Assessment identified low public awareness of the Commission’s work  as a key finding and area for focus.  One of the four themes that emerged from the Strategic  Assessment was “Communicate More.”  The Commission then authorized staff to budget  appropriate resources to enhance the Commission’s communications program.  This item  represents one major step towards implementing this theme and direction.  Moreover, the  Commission’s invigorated focus on communication with its constituents is a component of the  FY 2017/18 Budget Goals and Objectives recommended for adoption by the Commission at this  meeting.  Digital communication is well on its way to supplanting traditional media as the primary way  people get information.  In addition to providing information to the public on Commission  programs and projects more effectively, a modernized website will also assist the Commission’s  transition to its new customer service role with the opening of the 91 Express Lanes.  A state‐of‐ the‐art, user‐friendly website will enable constituents and customers to get answers they need  in a more intuitive manner and enhance government transparency.  The website was last  restructured to a content management system (CMS) in 2011.  The website currently does not  have mobile capability; technology and society is constantly changing and over 50 percent of  internet users are using mobile devices.    202 Agenda Item 8  As the Commission embarks on this effort to overhaul its digital presence, it is important to assess  the visual identity of the agency to ensure it is effectively conveying a consistent and forward‐ thinking message that aligns with the Commission’s goals and objectives.  As the public becomes  more attuned to the Commission’s projects, programs, and services, it will be extremely  important to have a professional and well thought‐out visual identity that is recognizable.  As  such, it is important to have a visual identity and website that has a thorough understanding of  the Commission, its legacy, the role it plays today, and what it will be in the future.  Accordingly,  a consultant is needed to package the new website with a visual identity audit and update.    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  firm, personnel, and the ability to respond to the Commission’s needs for visual identity and  website design and maintenance services as set forth under the terms of the request for  proposals (RFP) No. 17‐14‐054‐00.    RFP No. 17‐14‐054‐00 was released on December 1, 2016.  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 166 firms,  26 of which are located in Riverside County.  Through the PlanetBids site, 38 firms downloaded  the RFP; 3 of these firms are located in Riverside County.  A pre‐proposal conference was held on  December 13 and attended by 3 firms; 1 firm is local to Riverside County.  Staff responded to all  questions submitted by potential proposers prior to the December 15 clarification deadline date.   Ten firms – Celtis Ventures, LLC (Redondo Beach); ETA Agency (Long Beach); Geographics  (Riverside); JLB, LLC (Franklin, TN); L.A. Design Studio (Thousand Oaks); Nemoi Advertising and  Design (Long Beach); RG Pacific, LLC (Montebello); Swift Media, Inc. (Laguna Hills); Transit Media  Group, Inc. (Huntington Beach); and Vision (El Segundo) – submitted proposals prior to the 2:00  p.m. submittal deadline on December 29.  All 10 firms submitted responsive and responsible  proposals.  Utilizing the evaluation criteria set forth in the RFP, the 10 proposals were evaluated  and scored by an evaluation committee comprised of Commission 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 four firms – Celtis Ventures,  LLC; ETA Agency; Geographics; and Vision – to the interview phase of the evaluation and selection  process.  Interviews were conducted on February 1, 2017.     Subsequently, the evaluation committee determined Celtis Ventures, LLC to be the most  qualified firm to provide services for visual identity and website design and maintenance services.    The overall evaluation ranking, based on highest to lowest total evaluation score, and price are  presented in the following table.     203 Agenda Item 8  Firm Price* Overall Ranking  Celtis Ventures, LLC $120.00 1  ETA Agency $80.00 2  Geographics $79.33 3  Vision  $131.67 4  L.A. Design Studio $76.67 5  RG Pacific, LLC $53.33 6  Transit Media Group, Inc. $81.67 7  Swift Media, Inc. $113.33 8  Nemoi Advertising and Design $130.00 9  JLB, LLC $150.00 10  *Prices reflect average hourly rate for key personnel.    After the evaluation committee determined Celtis Ventures, LLC to be the most qualified firm to  perform the work outlined in the scope of services, staff began negotiations to finalize contract  terms, scope, schedule, and cost to establish a fair and reasonable price.       Staff Recommendation    As a result of the evaluation committee’s assessment of the written proposals and interviews,  the evaluation committee recommends contract award to Celtis Ventures, LLC for a three‐year  term, and one, two‐year option in a total amount not to exceed $571,000, as this firm earned the  highest total evaluation score.  The scope of services has been negotiated to best meet the  Commission’s anticipated needs over the next five years, while allowing flexibility to adapt, as  this is the Commission’s first serious venture into agency‐wide digital communications.     Celtis Ventures shall provide the following services:     Branding – Celtis will conduct a visual identity audit that will evaluate the Commission’s  perception across the region and identify the areas in marketing, branding and media  where there are information gaps.  Prepare a refreshed visual identity utilizing a style  guide to ensure consistency and set standards.  Perform a bi‐annual marketing and  branding review.  The purpose of this task is to ensure the Commission’s published  materials are effective in conveying the Commission’s messages and association with  projects and programs.     Website – Celtis will evaluate and assess current website content to coincide with the  latest industry standards for the most effective online presence.  The new website’s  design will reflect the results of the visual identity.  The structure of the website will  respond to the most widely sought information by the public, as demonstrated by  analytics collected by Celtis.  A mobile‐friendly site will be designed for easy viewing and  interaction on the most widely used consumer electronic devices.  Interactive features  will be incorporated into the website to allow the public to more easily find information  on projects and programs of interest and to provide feedback to the Commission.  Special  204 Agenda Item 8  features will be developed to enhance the Commission’s publication of agendas,  employment opportunities, and other documents worthy of increased transparency and  accessibility.  Celtis will provide ongoing technical support, training for Commission staff,  routine maintenance, and cyber security of the rctc.org site.     Social Media and As‐Needed Support – Celtis will conduct a review of the Commission’s  social media program to date and provide recommendations to enhance the program.   Celtis will develop guidelines to drive traffic to the new website and social media  channels, increasing public awareness of the Commission’s work on behalf of taxpayers.   In response to trends in this increasingly digital society, video production/post‐production  capability for digital and social media will be provided by Celtis on an as‐needed basis.       Project Management – Costs to oversee all areas of the contract.     Other Direct Costs (ODC) – Mileage, printing, and other miscellaneous direct costs  incurred.    Celtis will be responsible for providing monthly reports and analysis on all of the above tasks.     Base Years Option Years Years  Year 1 Year 2 Year 3 Years 4 and 5  March 8, 2017 ‐ Feb. 28, 2018  March 1, 2018 ‐ Feb. 28, 2019  March 1, 2019 ‐ Feb. 29, 2020  March 1, 2020 ‐ Feb. 28, 2022  Branding $74,270   $4,000      Website $89,500 $18,000 $12,000 $24,000  Social Media  and As‐Needed  Support  $100,000 $66,000 $41,400 $80,400  Project  Management  $29,000 $5,000 $2,800 $5,700  ODC $5,000 $5,000 $3,000 $6,000  Subtotal $297,700 $94,000 $63,200 $116,100  Contract Total =  $571,000    It is important to place the total not to exceed figure of $571,000 into context that $116,100 are  option years at the Commission’s discretion, based on performance and circumstances after the  first three years in the base contract.  Additionally, the Social Media & As Needed Support  categories during all five years of the proposed contract may not necessarily be fully subscribed.   The Commission is seven months into its expanded External Affairs Department and less than  three months into its fully‐public social media program.  Consistent with the Commission’s long‐ standing policy of keeping a lean staff and utilizing consultants, staff believes it is prudent to       205 Agenda Item 8  budget consultant resources to supplement staff capabilities in the digital communications  arena, as this function of the agency fully develops.  Staff will keep the Commission apprised of  how the program develops and performs over the course of the coming years and months.    Matt Raymond, Owner/CEO and project manager, of Celtis has many years of experience working  with the Commission’s sister agencies in Los Angeles, Orange, San Bernardino, and Ventura  Counties to gain public recognition.  Raymond’s career in transportation communications spans  30 years working as the Chief Communications Officer for the Los Angeles County Metropolitan  Transportation Authority and Dallas Area Rapid Transit.  Mr. Raymond will serve as the project  manager for the Commission.     The Commission’s professional services agreement will be entered into with the consultant  subject to any changes approved by the Executive Director and pursuant to legal counsel review.   Staff oversight of the contract will maximize the effectiveness of the consultant and minimize  costs to the Commission.    Financial Information  In Fiscal Year Budget: Yes  N/A Year: FY 2016/17  FY 2017/18+ Amount: $165,000  $406,000  Source of Funds:  Measure A, Local Transportation Funds,  Transportation Uniform Mitigation Fee,  and Motorist Assistance Funds  Budget Adjustment: No  N/A  GL/Project Accounting No.: 001001 65520 00000 0000  101 15 65520  Fiscal Procedures Approved: Date: 02/21/2017    Attachment:  Draft Agreement No. 17‐14‐054‐00  206 1 Agreement No. 17-14-054-00 RIVERSIDE COUNTY TRANSPORTATION COMMISSION AGREEMENT FOR VISUAL IDENTITY AND WEBSITE DESIGN AND MAINTENANCE SERVICES WITH CELTIS VENTURES, LLC 1. PARTIES AND DATE. This Agreement is made and entered into this day of , 2017, by and between the RIVERSIDE COUNTY TRANSPORTATION COMMISSION ("the Co- mmission") and Celtis Ventures, LLC ("Consultant"), a Limited Liability Company. 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. Consultant represents that it is a professional consultant, experienced in providing visual identity and website design and maintenance 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 certain consulting services for the visual identity and website design and maintenance services Project ("Project") as set forth herein. 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 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 Services are more particularly described in Exhibit "A" attached hereto and incorporated herein by reference. All Services shall be subject to, and performed in accordance with, this Agreement, 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 [INSERT EXPIRATION DATE], unless earlier terminated as provided 207 2 17336.00000\8752982.2 herein. The Commission, at its sole discretion, may extend this Agreement for [INSERT OPTION YEARS] terms. Consultant shall complete the Services within the term of this Agreement and shall meet any other established schedules and deadlines. 3.3 Schedule of Services. Consultant shall perform the Services expeditiously, within the term of this Agreement, and in accordance with the Schedule of Services set forth in Exhibit "B" attached hereto and incorporated herein by reference. 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 the Schedule, the Commission shall respond to Consultant's submittals in a timely manner. Upon request of the Commission, Consultant shall provide a more detailed schedule of anticipated performance to meet the 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 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 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: Matt Raymond; James Ewing; Devon Cichoski; Laura Raymond; Neil Sadler; Susana Andres; Georgina Artiga; Emily Kirwan; Cristina Bonnici; Emily Imbrecht; Trevor Cigich; and Nicole Bonnici. 3.7 Commission’s Representative. Commission hereby designates 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 208 3 17336.00000\8752982.2 have the power to act on behalf of Commission for all purposes under this Agreement. 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 Matt Raymond, 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. 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. 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. 209 4 17336.00000\8752982.2 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 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 210 5 17336.00000\8752982.2 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 this 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. 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 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. 211 6 17336.00000\8752982.2 (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). (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 212 7 17336.00000\8752982.2 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. Each insurance policy required by this Agreement shall be endorsed to state that: 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 Consultant shall procure a bond guaranteeing payment of losses and related investigation costs, claims and administrative and defense expenses. 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 213 8 17336.00000\8752982.2 Commission as an additional insured using ISO form CG 20 38 04 13 or an 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 "C" attached hereto. The total compensation shall not exceed [___INSERT WRITTEN DOLLAR AMOUNT___] ($[___INSERT NUMERICAL DOLLAR AMOUNT___]) without written approval of Commission's Executive Director (“Total Compensation”). 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 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 W ork without written authorization from Commission's Executive Director. 214 9 17336.00000\8752982.2 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 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: Celtis Ventures, LLC Riverside County 811 N. Catalina Ave., Ste. 3022 Transportation Commission Redondo Beach, CA 90277 4080 Lemon Street, 3rd Floor Riverside, CA 92501 Attn: Matt Raymond 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. 215 10 17336.00000\8752982.2 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 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. 216 11 17336.00000\8752982.2 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 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. 217 12 17336.00000\8752982.2 3.21 Indemnification. Consultant shall defend, indemnify and hold the Commission, its directors, officials, officers, agents, consultants, employees and volunteers free and harmless from any and all claims, demands, causes of action, costs, expenses, liabilities, losses, damages or injuries, in law or in 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 the Consultant, its officials, officers, employees, agents, consultants, and contractors arising out of or in connection with the performance of the Services, the Project or this Agreement, including without limitation, the payment of all consequential damages, 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 the Commission, its directors, officials, officers, agents, consultants, employees and volunteers. Consultant shall pay and satisfy any judgment, award or decree that may be rendered against the Commission or its directors, officials, officers, agents, consultants, employees and volunteers, in any such suit, action or other legal proceeding. Consultant shall reimburse the Commission and its directors, officials, officers, agents, consultants, employees and volunteers, for any and all legal expenses and costs, including reasonable attorney’s fees, incurred by each of them in connection therewith or in enforcing the indemnity herein provided. Consultant’s obligation to indemnity shall not be restricted to insurance proceeds, if any, received by the Commission or its directors, officials, officers, agents, consultants, employees 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 supplemented, amended, or 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. 218 13 17336.00000\8752982.2 3.27 Prohibited Interests and Conflicts. 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 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. 3.27.4 Employment Adverse to the Commission. Consultant shall notify the Commission, and shall obtain the Commission’s written consent, prior to accepting work to assist with or participate in a third-party lawsuit or other legal or administrative proceeding against the Commission during the term of this Agreement. 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 provisions 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. 219 14 17336.00000\8752982.2 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. 3.30.1 DIR Registration. Effective March 1, 2015, if the Services are being performed as part of an applicable “public works” or “maintenance” project, then pursuant to Labor Code Sections 1725.5 and 1771.1, the Consultant and all subconsultants must be registered with the Department of Industrial Relations. If applicable, Consultant shall maintain registration for the duration of the Project and require the same of any subconsultants. This Project may also be subject to compliance monitoring and enforcement by the Department of Industrial Relations. It shall be Consultant’s sole responsibility to comply with all applicable registration and labor compliance requirements. 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 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. 220 15 17336.00000\8752982.2 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 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. 221 16 17336.00000\8752982.2 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] 222 17 17336.00000\8752982.2 SIGNATURE PAGE TO RIVERSIDE COUNTY TRANSPORTATION COMMISSION AGREEMENT FOR VISUAL IDENTITY AND WEBSITE DESIGN AND MAINTENANCE SERVICES WITH CELTIS VENTURES, LLC IN WITNESS WHEREOF, this Agreement was executed on the date first written above. RIVERSIDE COUNTY CONSULTANT TRANSPORTATION COMMISSION CELTIS VENTURES, LLC By: _________________________ By: ____________________________ John F. Tavaglione Signature Chairman __________________________ Name __________________________ Title Approved as to Form: Attest: By: ____________________________ By: ________________________ Best Best & Krieger LLP Its: Secretary General Counsel 223 18 17336.00000\8752982.2 EXHIBIT "A" - SCOPE OF SERVICES [ TO BE INSERTED] EXHIBIT "B" - SCHEDULE OF SERVICES [ TO BE INSERTED] EXHIBIT "C" – COMPENSATION [ TO BE INSERTED] 224 Visual Identity, Website Design & Maintenance Services March 8, 2017 Visual Identity Current Website Strategic Assessment Identified low public awareness of the Commission. Identified low awareness of available transportation options. One of the four themes that emerged from was “Communicate More.” Residents desire easy access to transportation information. Procurement •RFP released on December 1, 2016 •Pre-Proposal Conference on December 13, 2016 •Received 10 proposals on December 29, 2016 •Interviewed four firms: –Celtis Ventures –ETA Agency –Geographics –Vision Technology Contract Services •Branding –Conduct a visual identity audit –Refreshed visual identity –Bi-annual marketing & branding review –Constant look & feel Contract Services •Website –Evaluate current website –New website design –Mobile-friendly site –Ongoing technical support, training, routine maintenance & cyber-security Contract Services •Social Media & “As Needed” Support –Review of RCTC social media program •Deliver a cohesive plan for all platforms. –Provide recommendations to enhance the program –Develop guidelines to drive traffic to the new website & social media channels –Supplement staff resources Cost Breakdown Base Years Option Years Years Yr. 1 Yr. 2 Yr. 3 Yr. 4 & 5 March 8, 2017 -Feb. 28, 2018 March 1, 2018 - Feb. 28, 2019 March 1, 2019 - Feb. 29, 2020 March 1, 2020 - Feb. 28, 2022 Branding $74,270 $4,000 Website $89,500 $18,000 $12,000 $24,000 Social Media & "As Needed" Support $100,000 $66,000 $41,400 $80,400 Project Management $29,000 $5,000 $2,800 $5,700 Other Direct Costs (ODC)$5,000 $5,000 $3,000 $6,000 Sub total $297,700 $94,000 $63,200 $116,100 Contract Total = $571,000 Recommendation •Award Contract 17-14-054-00 to Celtis Ventures: –Three -year term :$454,900 –One Two -year option:$116,000 –Contract total not to exceed $571,000 AGENDA ITEM 9 Agenda Item 9  RIVERSIDE COUNTY TRANSPORTATION COMMISSION  DATE: March 8, 2017  TO: Riverside County Transportation Commission  FROM:  Budget and Implementation Committee  Shirley Medina, Planning and Programming Director  Lorelle Moe‐Luna, Senior Management Analyst  THROUGH: Anne Mayer, Executive Director  SUBJECT: 2017 Companion Study for Grade Separation Priority Update Study for  Alameda Corridor East (Riverside County), 2012     BUDGET AND IMPLEMENTATION COMMITTEE AND STAFF RECOMMENDATION:    This item is for the Commission to:    1) Receive and file the 2017 Companion Study for Grade Separation Priority Update Study  for Alameda Corridor East (Riverside County), 2012 (report); and  2) Direct staff to work with local jurisdictions to address the findings and recommendations  in the report, review evaluation criteria utilized in state and federal competitive  programs, and reevaluate Commission policies to support funding for grade separation  projects.    BACKGROUND INFORMATION:    Over the past several years, approximately $500 million in local, state, and federal funding has  been invested in goods movement related projects throughout Riverside County (County).  These  crossings present conflicts between rail and highway traffic and are located on the main lines of  either the Union Pacific or BNSF Railway railroads.  In 2006 and again in 2008, the Commission  developed a funding strategy to serve as a blueprint for constructing many of these at‐grade  crossings.  In March 2012, the Commission adopted the Grade Separation Priority Update Study  for the remaining at‐grade crossings located in the County on the Alameda Corridor East.    The various studies have assisted the Commission in securing much needed funding for the  at‐grade crossings.  To date, the following grade separation projects have been completed/open  to traffic and/or permanently closed due to roadway reconfiguration:    Project    Location  Project    Location  Auto Center Drive    Corona    Jane Street    Riverside*  Avenue 48/Dillon Road  Coachella  Jurupa Avenue    Riverside  Avenue 50    Coachella  Magnolia Avenue  County  Avenue 52    Coachella  Magnolia Avenue  Riverside  Avenue 56/Airport Boulevard County    Mountain View Avenue  Riverside*  Clay Street    Jurupa Valley  Riverside Avenue  Riverside  Columbia Avenue  Riverside  Streeter Avenue    Riverside  Iowa Avenue    Riverside  Sunset Avenue   Banning   *Permanently Closed  225 Agenda Item 9  In addition, the March Inland Cargo Airport – Interstate 215/Van Buren Boulevard ground access  improvement project was completed.  The County is the lead for the Avenue 66 grade separation  project, which is the remaining project under development.  Although growth in goods movement presents significant economic opportunities in terms of  increased tax revenues and job creation, it also highlights the need to improve freight  infrastructure.  The County serves as a conduit for the Port of Los Angeles and the Port of Long  Beach for transporting goods to areas beyond the state with more than 77 percent of freight  being passed through cargo destined for areas beyond the County line.  Approximately 65  percent of the pass through freight travels by rail and the remaining 35 percent travels by truck.   This results in having a freight train at most rail crossings at least twice an hour.  Slow freight  trains create delays for vehicles at many of the remaining 46 at‐grade crossings throughout the  County.    Using the 2012 Grade Separation Priority Update Study as a basis for further study, the  Commission retained the services of a consultant to conduct a 2017 Grade Separation  Companion Study for the purpose of obtaining updated information regarding the feasibility and  desirability of improving each of the remaining 46 at‐grade crossings.  The study analysis provides  information on the following key questions:  Which crossings are grade separation projects still feasible and desirable to build within the next 10 years? Which locations are grade separations not feasible? Which locations are grade separations desirable in the longer term future (more than 10 years)? Which locations could be potential candidates for quiet zone implementation? Study Approach  Staff took this item to the Technical Advisory Committee in May 2016 to form a small working  group with representatives from the local agencies with grade separations located in their  jurisdictions.  The working group included public works and transportation staff from the cities  of Banning, Beaumont, Calimesa, Coachella, Corona, Jurupa Valley, Palm Springs, and Riverside  and the County.  The working group met to address the key questions of the study and each jurisdiction completed  a survey that served as the basis for the updated information about the feasibility and desirability  of improvements on the existing at‐grade crossings.  The findings from the survey are as follows:    Technical Feasibility:  Of the remaining 46 at‐grade crossings, four locations have been deemed infeasible (Cota Street, Sheridan Street, Joy Street, and Radio Road in Corona), four locations require further study (Apache Trail, Broadway, Avenue 58, and Avenue 62 in unincorporated County), and 38 are considered physically feasible. Closure:  Three locations (California Avenue in Beaumont, Avenue 54 in Coachella, and Rutile Street in Jurupa Valley) are possible candidates for full closure, depending on the outcome of other circulation improvements in the vicinity. 226 Agenda Item 9  Priority:  The following 11 grade crossings are considered high priority for the next 10 years based on the survey results: o City of Banning – San Gorgonio Avenue and Hargrave Street o City of Beaumont – Pennsylvania Avenue o City of Corona – McKinley Street (partially funded) o City of Jurupa Valley – Bellegrave Avenue and Jurupa Road o City of Riverside – Jackson Street, Mary Street, Third Street (partially funded), and Spruce Street o County of Riverside – Avenue 66 (fully funded) Quiet Zones:  The technical analysis included in the report justify the establishment of quiet zones in the respective jurisdictions that have identified a need. To pursue funding sources for the 11 priority grade crossings that the local jurisdictions identified,  the report recommends the following:  The Commission should explore funding opportunities through the National Highway Freight Program, which includes discretionary grants such as Fostering Advancements in Shipping and Transportation for the Long‐term Achievement of National Efficiencies (FASTLANE), and work with regional and local partners to pursue those funds. Local jurisdictions should collaborate with the Commission and pursue funding for their higher‐priority projects through sources available to them, including the Transportation Uniform Mitigation Fee and California Public Utilities Commission programs. Local jurisdictions should continue to pursue the implementation of quiet zones where the need has been identified and the technical analysis included in this report supports the establishment of the quiet zones. Staff recommends a review with the local jurisdictions of the report findings and  recommendations in order to develop an action plan for grade separation projects in Riverside  County.  This review should include the development of funding strategies, which may include a  review of evaluation criteria used in state and federal programs in order to make the grade  separation projects more competitive.  Additionally, the action plan should consider a  reevaluation of Commission policies to support funding for grade separation projects.    Financial Impact  There is no fiscal impact to the Commission related to this item.  Upon the development of an  action plan, staff will return to the Commission with specific recommendations, including  implementation costs, if any.  Attachment: 2017 Companion Study for Grade Separation Priority Update Study for Alameda  Corridor East (Riverside County), 2012   227 2017 Companion Study for: Grade Separation Priority Update Study for Alameda Corridor East (Riverside County), 2012 February 20, 2017 2017 Companion Study for: Grade Separation Priority Update Study for Alameda Corridor East (Riverside County), 2012 Riverside County Transportation Commission 4080 Lemon Street, 3rd Floor P.O. Box 12008 Riverside, CA 92502-2208 February 20, 2017 228 229 February 20, 2017 | a Table of Contents 1 Introduction .......................................................................................................................................... 1 2 Feasibility and Priority Updates ........................................................................................................... 6 2.1 Methodology .............................................................................................................................. 6 2.2 Information Updates .................................................................................................................. 6 3 Quiet Zone Analysis .......................................................................................................................... 11 3.1 QZ Methodology ...................................................................................................................... 11 3.2 QZ Analysis Overview ............................................................................................................. 15 3.3 QZ Findings ............................................................................................................................. 15 4 Study Findings and Recommendations ............................................................................................ 19 4.1 Findings ................................................................................................................................... 19 4.1.1 Corridor Summary ...................................................................................................... 19 4.1.2 County of Riverside .................................................................................................... 20 4.1.3 City of Banning ........................................................................................................... 21 4.1.4 City of Beaumont ........................................................................................................ 21 4.1.5 City of Calimesa ......................................................................................................... 21 4.1.6 City of Coachella ........................................................................................................ 21 4.1.7 City of Corona ............................................................................................................ 21 4.1.8 City of Jurupa Valley .................................................................................................. 21 4.1.9 City of Palm Springs ................................................................................................... 21 4.1.10 City of Riverside ......................................................................................................... 21 4.2 Recommendations and Next Steps ......................................................................................... 23 230 February 20, 2017 | b List of Tables Table 1.1: 2012 Grade Crossing Priority List .................................................................................................................................... 2 Table 2.1: Grade Crossing Questionnaire ........................................................................................................................................ 8 Table 3.1: List of At-Grade Crossings Considered for Quiet Zone Analysis ................................................................................... 13 Table 3.2: Summary of Quiet Zone Analysis .................................................................................................................................. 17 Table 4.1: Study Findings ............................................................................................................................................................... 22 List of Figures Figure 1.1: Locations of-the 46 At-Grade Crossings ......................................................................................................................... 5 Figure 3.1: Locations and Land Use around 46 At-Grade Crossings Considered for Quiet Zone Analysis ................................... 12 Figure 3.2: Status and Corridors for Quiet Zones Analysis ............................................................................................................. 14 Figure 3.3: FRA Guidance on Creating a QZ .................................................................................................................................. 18 List of Appendices Appendix A: City of Riverside Council Action, 02.09.17 ................................................................................................................ A-1 Appendix B: Quiet Zone Analysis Background .............................................................................................................................. B-1 Appendix C: Quiet Zone Analysis and Calculations ....................................................................................................................... C-1 231 February 20, 2017 | 1 1 Introduction In the Years 2000 and 2006, in response to the rapid increase in train traffic carrying goods coming through the Ports of Los Angeles and Long Beach, the Riverside County Transportation Commission (RCTC) conducted its first railroad grade separation priority studies. Those studies evaluated the 62 at-grade crossings along the Union Pacific Railroad (UP) and BNSF Railway (BNSF) main lines in Riverside County, and prioritized 20 crossings as top candidates for grade separation. In 2006 and again in 2008, RCTC developed a funding strategy to serve as a blueprint for constructing grade separations for many of these at-grade crossings. Since 2006 approximately $500 million in local, state and federal funding has been invested in constructing 14 railroad grade separations and closing two at-grade crossings to facilitate goods movement through Riverside County and reduce conflict points between rail and highway traffic on the UP and BNSF main lines. To date, the following grade separation projects have been either completed and opened to traffic or have been permanently closed due to roadway reconfiguration. Project Location Project Location Auto Center Drive Corona Jurupa Avenue Riverside Avenue 48/Dillon Road Coachella Magnolia Avenue Riverside Avenue 50 Coachella Streeter Avenue Riverside Avenue 52 Coachella Riverside Avenue Riverside Columbia Avenue Riverside Mountain Avenue Riverside (Permanently Closed) Iowa Avenue Riverside Jane Street Riverside (Permanently Closed) Grade Separation Project Completed recently (FY 2016-2017) Project Location Project Location Magnolia Avenue County Clay Street Jurupa Valley Sunset Avenue Banning Avenue 56/Airport Boulevard County In March 2012, RCTC adopted a Grade Separation Priority Update Study1 (2012 Study) for the remaining 46 at- grade crossings located on the UP and BNSF main lines in Riverside County (see Table 1.1). The funding sources used to construct the 14 grade separations have now been expended. Of the remaining 46 crossings, funding commitments have been secured to grade separate one location (Avenue 66) and partial funding has been secured for one other (McKinley Street). The 2012 Study prioritized the 46 at-grade crossings using the same criteria as the 2000 and 2006 studies (accident rates, existing and future vehicle delay, vehicle emissions from idling, horn noise impacts on residential areas, adjacency to existing grade separations, and local priority), as well as two additional criteria: project readiness and isolated location. The 46 at-grade crossings were grouped in priority categories of 1 through 5, where 1 represented the highest priority level and 5 the lowest (presented in Table 1.1). 12012 Grade Separation Priority Update Study for Alameda Corridor East, InfraConsult, March 2012 232 February 20, 2017 | 2 Table 1.1: 2012 Grade Crossing Priority List Priority Ranking Jurisdiction Rail Line Cross Street 1: 9 Locations Riverside BNSF & UP (SB SUB) Spruce Street Corona BNSF (SB SUB) McKinley Street Riverside BNSF & UP (SB SUB) Chicago Avenue Banning UP (YUMA MAIN) Hargrave Street Riverside BNSF & UP (SB SUB) 3rd Street Corona BNSF (SB SUB) Joy Street Riverside BNSF (SB SUB) Madison Street Riverside BNSF (SB SUB) Adams Street Riverside BNSF (SB SUB) Tyler Street 2: 9 Locations Jurupa Valley UP (LA SUB) Bellegrave Avenue Jurupa Valley UP (LA SUB) Jurupa Road Banning UP (YUMA MAIN) 22nd Street Beaumont UP (YUMA MAIN) Veile Avenue Banning UP (YUMA MAIN) San Gorgonio Avenue Riverside County UP (YUMA MAIN) Avenue 62 Riverside County UP (YUMA MAIN) Avenue 66 Riverside BNSF (SB SUB) Pierce Street Beaumont UP (YUMA MAIN) California Avenue 3: 11 Locations Corona BNSF (SB SUB) Sheridan Street Jurupa Valley UP (LA SUB) Rutile Street Riverside BNSF (SB SUB) Mary Street Riverside BNSF (SB SUB) Jackson Street Corona BNSF (SB SUB) Smith Avenue Beaumont UP (YUMA MAIN) Pennsylvania Avenue Riverside County BNSF & UP (SB SUB) Center Street Riverside BNSF (SB SUB) Washington Street Riverside BNSF & UP (SB SUB) 7th Street Riverside County UP (YUMA MAIN) Apache Trail Corona BNSF (SB SUB) Cota Street 4: 8 Locations Riverside BNSF (SB SUB) Buchanan Street Riverside County UP (YUMA MAIN) Broadway Riverside BNSF (SB SUB) Jefferson Street 233 February 20, 2017 | 3 Table 1.1: 2012 Grade Crossing Priority List Priority Ranking Jurisdiction Rail Line Cross Street Corona BNSF (SB SUB) Railroad Street Calimesa UP (YUMA MAIN) San Timoteo Canyon Road Riverside BNSF & UP (SB SUB) Palmyrita Av (UP) Coachella UP (YUMA MAIN) Avenue 54 Riverside UP (LA SUB) Brockton Avenue 5: 9 Locations Riverside BNSF & UP (RIV) Cridge Street Riverside UP (LA SUB) Panorama Road Palm Springs UP (YUMA MAIN) Tipton Road Riverside BNSF (SB SUB) Harrison Street Riverside UP (LA SUB) Palm Avenue Corona BNSF (SB SUB) Radio Road Riverside County BNSF & UP (SB SUB) Main Street Riverside County UP (YUMA MAIN) Avenue 58 Riverside BNSF (SB SUB) Gibson Street Source: 2012 Grade Separation Priority Update Study for Alameda Corridor East, InfraConsult, March 2012 Grade separations provide multiple benefits to the community: elimination of potential train-vehicle conflict at crossings, reduction of delay and emissions because vehicles no longer wait for trains at rail crossings, and elimination of noise impacts caused by train horns which must be sounded when the train approaches an at-grade crossing. The purpose of this Companion Study to the 2012 prioritization is to obtain updated information regarding the feasibility and desirability of improving each of the remaining 46 at-grade crossings. The study analysis provides information to address the following key questions:  For which locations is a grade separation feasible to construct, and for which is it not feasible?  For which locations are grade separations desirable in the near term (within the next 10 years)?  For which locations are grade separations desirable in the longer-term future (more than 10 years)?  Should any of the existing at-grade crossings be closed? Additionally, this study is also examining which locations could be candidates for quiet zone implementation in the near future. In recent years many communities around the country, including the City of Riverside, have been taking steps to reduce the noise impact of train horns on nearby residential communities by establishing “Quiet Zones” in accordance with procedures established by the Federal Railroad Administration (FRA). Quiet Zones are not a substitute for grade separation because they are specifically intended to reduce train horn noise. To help the cities investigate the possibility of Quiet Zones this study also provides information about the feasibility of establishing Quiet Zones along the UP and BNSF main lines. 234 February 20, 2017 | 4 Figure 1.1 presents the area covered for this study and identifies the location of each at-grade crossing. Chapter 2 presents updated information on grade separation feasibility, as well as local agency priorities for grade separation timing, closures, and Quiet Zones. Chapter 3 presents technical evaluation of Quiet Zone feasibility. Chapter 4 presents the study’s findings and recommendations. 235 February 20, 2017 | 5 Figure 1.1: Locations of-the 46 At-Grade Crossings Source: HDR 236 237 February 20, 2017 | 6 2 Feasibility and Priority Updates 2.1 Methodology Updated information about the 46 remaining at-grade crossings was obtained in consultation with the staff of the local jurisdictions. At the onset of the project, a questionnaire was distributed to the cities that have at-grade crossings in their jurisdiction. Based on the questionnaire, updated information about the feasibility and desirability of improvements was obtained through a series of meetings between RCTC staff, the consultant team, and local agency staff. These meetings included staff from the cities of Corona, Jurupa Valley, Riverside, Banning, Beaumont, Calimesa, Coachella, Palm Springs, and the County of Riverside. The discussions explored issues related to improving each crossing, including whether:  Grade separations are technically feasible, or still viable;  Recent events or circumstances have changed the project priority for the local agency;  Desired grade separations are near-term or long-term projects;  Any at-grade crossings should be completely closed;  Quiet Zones (QZ) with safety features are desired by the local jurisdiction for some areas. (This chapter presents the desires for QZ expressed by agency staff, and Chapter 3 presents a technical analysis of which areas qualify for QZ based on FRA criteria.) 2.2 Information Updates Key summary points from the local agencies’ information updates are as follows:  Funding: Only two of 46 locations have any substantial funding for a grade separation identified – Avenue 66 is fully funded at approximately $39.08 million2, and the City of Corona has obtained about $7.3 million3 (8% of the total cost of $91.3 million4) from various sources for a grade separation at McKinley. No funding has been identified for any of the other desired grade separations, and the prospects for obtaining needed funds are uncertain at best given the current status of potential funding sources. The California Public Utilities Commission (CPUC) provides funding for grade separation projects, but this funding is highly competitive and is typically limited to about $15 million, distributed among three or four projects each fiscal year)5. A percentage of the 2015 federal transportation bill – the Fixing America’s Surface Transportation (FAST) Act – is designated for goods movement projects such as grade separations, but it is not known how successfully Riverside County will be able to compete for these funds. Another potential source of funding is the Western Riverside County Transportation Uniform Mitigation Fee (TUMF) which generates funds that are eligible for spending on grade separations for roadways on the TUMF network, but these funds are based on development activity, making it an uncertain funding source. 2 2017 Federal Transportation Improvement Program: Project List 3 Based on input from City of Corona’s response to questionnaire 4 RCTC Metrolink and Amtrak Grade Separations Project, Transit and Intercity Rail Capital Program (TIRCP) Funding Application, April 2016 5 Railroad Crossing Funding Programs, Section 190 Grade Separation Program (http://www.cpuc.ca.gov/General.aspx?id=2891) 238 February 20, 2017 | 7  Priority: Local agency priority has changed for a few locations based on local circumstances and direction from elected officials. On May 05, 2015, the Riverside City Council adopted a policy establishing grade separation projects at Jackson Street, Madison Street, Spruce Street and 3rd Street as the City’s current priority locations. In the questionnaire for this study, the City indicated that the grade separation project at Madison Street has been replaced by Mary Street in the priority list. In the 2012 study the crossings at Spruce Street, 3rd Street, and Madison Street were included in Priority Group #1, while the crossings at Mary Street and Jackson Street were included in Priority Group #3. On February 09, 2017, the City of Riverside Transportation Committee recommended that the City Council approve 3rd Street as the City’s top priority grade separation project, and adopt a priority for grade separation projects at Spruce Street, Mary Street, and Jackson Street (Full content of this council action is presented in Appendix A).  Technical Feasibility: Only four (Cota Street, Sheridan Street, Joy Street and Radio Road in Corona) of the 46 locations have been determined to be technically infeasible for constructing a grade separation. The County of Riverside indicated that grade separation feasibility at four locations within their jurisdiction (Apache Trail, Broadway, Avenue 58 and Avenue 62) is not certain at this time because feasibility studies have not been conducted; these will be assumed to be feasible for purposes of this analysis.  Desired Timing: Of the 42 locations that are feasible, 11 are desired in the near-term future (next ten years). This includes the fully-funded grade separation at Avenue 66, the partially-funded McKinley Street crossing, and nine with no identified funding – one in Beaumont (Pennsylvania Avenue), two in Banning (San Gorgonio Avenue and Hargrave Street), two in Jurupa Valley (Bellegrave Avenue and Jurupa Road), and four in the City of Riverside (Jackson Street, Mary Street, 3rd Street and Spruce Street). These 11 locations were either in Group 1 (McKinley Street, Hargrave Street, Spruce Street and 3rd Street), Group 2 (Avenue 66, San Gorgonio Avenue, Jurupa Road, Bellegrave Avenue), or Group 3 (Pennsylvania Street, Jackson Street and Mary Street) in the 2012 Study.  Closure: Three locations (California Avenue in Beaumont, Avenue 54 in Coachella, and Rutile Street in Jurupa Valley) are possible candidates for full closure, depending on the outcome of other circulation improvements in the vicinity.  Quiet Zones: Most of the at-grade crossings in the cities of Riverside and Corona are considered by the local agency as candidates for QZ, along with locations in Banning and the County of Riverside. This study’s technical analysis of QZ feasibility in Chapter 3 applies technical criteria from the FRA’s guidelines to evaluate which locations qualify for QZ application. The updated information about funding, priority, feasibility, timing, QZ and closure potential is provided in Table 2.1. 239 February 20, 2017 | 8 Table 2.1: Grade Crossing Questionnaire Jurisdiction Rail Line Crossing Location 2012 Priority Group* Funding Situation or Agency Priority Changed? Yes / No Grade Separation Technically / Physically Feasible? Yes / No / Not Available (NA) Grade Separation desired to be built by 2026 (in the next 10 years) Possibility of Grade Separation built by 2036 (in the next 10 - 20 years) Candidate for Quiet Zone? Yes / No Candidate for Full Closure? Yes / No Notes from One-on-One Meetings Pass Area Calimesa UP (YUMA MAIN) San Timoteo Canyon Road 4 No Yes No Yes No No Beaumont UP (YUMA MAIN) Veile Avenue 2 No Yes No Yes No No Grade separation is essential for development access if new SR-60/Portrero Boulevard interchange not built Beaumont UP (YUMA MAIN) California Avenue 2 No Yes No No No Yes Closure needs to be evaluated in conjunction with Veile crossing and SR-60/Portrero Boulevard interchange Beaumont UP (YUMA MAIN) Pennsylvania Avenue 3 Funding: No Priority: Yes Yes Yes Yes No No Beaumont’s top priority for grade separation Banning UP (YUMA MAIN) 22nd Street 2 No Yes No Yes Yes No Banning UP (YUMA MAIN) San Gorgonio Avenue 2 No Yes Yes Yes No No Although possible, this project is constrained by the existing I-10/San Gorgonio Avenue undercrossing. Banning UP (YUMA MAIN) Hargrave Street 1 No Yes Yes Yes Yes No Riverside County UP (YUMA MAIN) Apache Trail 3 No NA No Yes Yes No Riverside County UP (YUMA MAIN) Broadway 4 No NA No Yes No No Coachella Valley Palm Springs UP (YUMA MAIN) Tipton Road 5 No Yes No Yes No No Long term possibility of development in area Coachella UP (YUMA MAIN) Avenue 54 4 No Yes No Yes No Possibly City might consider permanent closure. Riverside County UP (YUMA MAIN) Avenue 58 5 No NA No Yes No No Riverside County UP (YUMA MAIN) Avenue 62 2 No NA No Yes No No Riverside County UP (YUMA MAIN) Avenue 66 2 Yes Yes Yes No No No Project fully funded and approved by California Transportation Commission. Date for construction pending final alignment. Northwest Riverside County Jurupa Valley UP (LA SUB) Bellegrave Avenue 2 No Yes Yes Yes No No Jurupa Valley priority #2; Preliminary design concepts previously completed by County of Riverside Transportation & Land Management Agency (TLMA) Jurupa Valley UP (LA SUB) Rutile Street 3 No Yes No Yes No Possibly Jurupa Valley priority #3; During current Jurupa Valley General Plan (GP) Update, staff will evaluate possible deletion of this GP roadway connection to Van Buren Boulevard. This is to be resolved on adoption of GP Update Early 2017 Jurupa Valley UP (LA SUB) Jurupa Road 2 No Yes Yes Yes No No Jurupa Valley priority #1; Previously committed funds transferred to Clay Street Grade Separation Project. Preliminary design completed by TLMA 240 241 February 20, 2017 | 9 Table 2.1: Grade Crossing Questionnaire Jurisdiction Rail Line Crossing Location 2012 Priority Group* Funding Situation or Agency Priority Changed? Yes / No Grade Separation Technically / Physically Feasible? Yes / No / Not Available (NA) Grade Separation desired to be built by 2026 (in the next 10 years) Possibility of Grade Separation built by 2036 (in the next 10 - 20 years) Candidate for Quiet Zone? Yes / No Candidate for Full Closure? Yes / No Notes from One-on-One Meetings Riverside UP (LA SUB) Palm Avenue 5 No Yes No NA Yes No Active QZ project - in design Riverside UP (LA SUB) Brockton Avenue 4 No Yes No NA Yes No Active QZ project - in design Riverside UP (LA SUB) Panorama Road 5 No Yes No NA Yes No Active QZ project - in design Corona BNSF (SB SUB) Smith Avenue 3 No Yes No Yes Yes No Corona priority #2 - ideal candidate for Quiet Zone Corona BNSF (SB SUB) Railroad Street 4 No Yes No Yes Yes No Corona priority #3 - ideal candidate for Quiet Zone Corona BNSF (SB SUB) Cota Street 3 No No No No Yes No Corona priority #4 - ideal candidate for Quiet Zone Corona BNSF (SB SUB) Sheridan Street 3 Most improvements recently constructed for Quiet Zone No No No Yes No Corona priority #7 - ideal candidate for Quiet Zone Corona BNSF (SB SUB) Joy Street 1 No No No No Yes No Corona priority #6 - ideal candidate for Quiet Zone Corona BNSF (SB SUB) Radio Road 5 No No No No Yes No Corona priority #5 - ideal candidate for Quiet Zone Corona BNSF (SB SUB) McKinley Street 1 $7.3 M allocated from various sources Yes Yes Yes No No Corona priority #1 Riverside BNSF (SB SUB) Buchanan Street 4 No Yes No NA Yes No Establish QZ - 3rd quarter 2016 Riverside BNSF (SB SUB) Pierce Street 2 No Yes No NA Yes No Establish QZ - 3rd quarter 2016 Riverside BNSF (SB SUB) Tyler Street 1 No Yes No NA Yes No Establish QZ - 3rd quarter 2016 Riverside BNSF (SB SUB) Harrison Street 5 No Yes No NA Yes No Establish QZ - 3rd quarter 2016 Riverside BNSF (SB SUB) Gibson Street 5 No Yes No NA Yes No Establish QZ - 3rd quarter 2016 Riverside BNSF (SB SUB) Jackson Street** 3 Funding: No Priority: Yes Yes Yes Yes Yes No Establish QZ - 3rd quarter 2016 Riverside BNSF (SB SUB) Adams Street 1 No Yes No NA Yes No Establish QZ - 3rd quarter 2016 Riverside BNSF (SB SUB) Jefferson Street 4 No Yes No NA Yes No Establish QZ - 3rd quarter 2016 Riverside BNSF (SB SUB) Madison Street 1 Funding: No Priority: Yes Yes No NA Yes No Establish QZ - 3rd quarter 2016 Riverside BNSF (SB SUB) Washington Street 3 No Yes No NA Yes No Establish QZ - 3rd quarter 2016 Riverside BNSF (SB SUB) Mary Street** 3 No Yes Yes Yes Yes No Establish QZ - 3rd quarter 2016 Riverside BNSF & UP (RIV) Cridge Street 5 No Yes No NA Yes No Active QZ project - in design 242 243 February 20, 2017 | 10 Table 2.1: Grade Crossing Questionnaire Jurisdiction Rail Line Crossing Location 2012 Priority Group* Funding Situation or Agency Priority Changed? Yes / No Grade Separation Technically / Physically Feasible? Yes / No / Not Available (NA) Grade Separation desired to be built by 2026 (in the next 10 years) Possibility of Grade Separation built by 2036 (in the next 10 - 20 years) Candidate for Quiet Zone? Yes / No Candidate for Full Closure? Yes / No Notes from One-on-One Meetings Riverside BNSF & UP (SB SUB) 7th Street 3 No Yes No DK Yes No QZ Planned for City FY 2020/2021 Riverside BNSF & UP (SB SUB) 3rd Street** 1 No Yes Yes Yes Yes No QZ Planned for City FY 2020/2021 Riverside BNSF & UP (SB SUB) Spruce Street** 1 Funding: No Priority: Yes Yes Yes Yes Yes No QZ Planned for City FY 2020/2021 Riverside BNSF & UP (SB SUB) Chicago Avenue 1 No Yes No NA Yes No Potential QZ (next 5 to 10 Years) Riverside BNSF & UP (SB SUB) Palmyrita Av (UP) 4 No Yes No NA Yes No Potential QZ (next 5 to 10 Years) Riverside County BNSF & UP (SB SUB) Center Street 3 No Yes No Yes Yes No Riverside County BNSF & UP (SB SUB) Main Street 5 No Yes No Yes Yes No Source: HDR *2012 Study priority ranking 1 (highest priority) – 5 (lowest priority) ** Jackson Street, Mary Street, Spruce Street, and 3rd Street are the City of Riverside’s current top priorities. 244 245 February 20, 2017 | 11 3 Quiet Zone Analysis Grade separations are capital intensive projects, and since funding for grade separations is scarce, QZs can be implemented as a means of reducing train horn noise impacts and enhancing safety at grade crossings near residential areas. QZs are not a substitute for grade separation because they are specifically intended to reduce the sounding of train horns while grade separations also eliminate vehicle-train conflict points as well as delay and idling of waiting vehicles. To help the cities investigate the possibility of QZ implementation, this chapter provides information about the feasibility of establishing QZ corridors along the UP and BNSF main lines. 3.1 QZ Methodology A QZ is a section of a rail line (at least one-half mile in length) that has one or more consecutive public highway-rail at- grade crossings where locomotive horns are not routinely sounded. A QZ is typically implemented to reduce the train- related noise in residential areas. The FRA has established guidelines and criteria for implementing quiet zones, which consider such factors as crossing location, adjacent land uses, train and vehicular traffic, and accident history data. Adjacent land uses were reviewed as the first screening criterion for determining which of the 46 at-grade crossings could be potential candidates for QZ implementation. The consultant team used GIS analysis to identify the land uses within a 1,200-foot radius of each crossing. Figure 3.1 provides a map showing the location of each grade crossing, along with the surrounding land uses. If there were no residential land uses within the buffer area, then that particular crossing was eliminated from further consideration. The following crossings were eliminated because there are no residential land uses within the 1,200-foot buffer:  Three locations the City of Corona on the BNSF San Bernardino Subdivision: o Radio Road, Railroad Street, and Smith Avenue  One location in the City of Palm Springs on the Yuma Subdivision: o Tipton Road The second screening step identified locations that are already included in QZ projects and therefore do not need to be evaluated for QZ feasibility. This includes crossings that are included in QZ projects that have been implemented or are currently in development, as well as locations that already contain wayside horns, which is another method used to reduce the noise impact of trains. The following 11 locations are part of QZ being implemented by the City of Riverside (all locations are on the BNSF San Bernardino Subdivision):  Buchanan Street  Pierce Street  Tyler Street  Harrison Street  Gibson Street  Jackson Street  Adams Street  Jefferson Street  Madison Street  Washington Street  Mary Street The following locations are either in the design stage and/or contain wayside horns:  In the City of Riverside, Brockton Avenue, Palm Avenue, and Panorama Road on the UP Los Angeles Subdivision contain wayside horns and are also currently in the QZ design phase;  In the City of Riverside, Cridge Street on the BNSF & UP Riverside Subdivision is currently in the QZ design phase 246 247 February 20, 2017 | 12 Figure 3.1: Locations and Land Use around 46 At-Grade Crossings Considered for Quiet Zone Analysis Source: HDR 248 249 February 20, 2017 | 13 For the QZ analysis, the remaining 27 at-grade crossings were grouped into 11 potential QZ corridors based on jurisdiction and railroad company ownership, and are presented in Table 3.1. Table 3.1: List of At-Grade Crossings Considered for Quiet Zone Analysis Jurisdiction Rail Line QZ Corridor Cross Street Location Riverside County UP (YUMA MAIN) Thermal QZ Avenue 58 Avenue 62 Avenue 66 (4th Street) Riverside County UP (YUMA MAIN) Cabazon QZ Apache Trail Broadway Street Riverside County BNSF & UP (SB SUB) Highgrove QZ Center Street Main Street Banning UP (YUMA MAIN) Banning QZ 22nd Street San Gorgonio Avenue Hargrave Street Beaumont UP (YUMA MAIN) Beaumont QZ Veile Avenue California Avenue Pennsylvania Avenue Calimesa UP (YUMA MAIN) Calimesa QZ San Timoteo Canyon Road Coachella UP (YUMA MAIN) Coachella QZ Avenue 54 Corona BNSF (SB SUB) Corona 1 QZ Cota Street Sheridan Street Joy Street Corona BNSF (SB SUB) Corona 2 QZ McKinley Street Jurupa Valley UP (LA SUB) Jurupa Valley QZ Bellegrave Avenue Jurupa Road Rutile Street Riverside BNSF & UP (SB SUB) Riverside Eastside QZ Mission Inn (7th Street) 3rd Street Spruce Street Chicago Avenue Palmyrita Avenue Source: HDR Figure 3.2 shows how the at-grade crossings were grouped for the QZ analysis. 250 251 February 20, 2017 | 14 Figure 3.2: Status and Corridors for Quiet Zones Analysis Source: HDR 252 253 February 20, 2017 | 15 3.2 QZ Analysis Overview This QZ evaluation addresses four mainline freight rail lines in Riverside County, owned by private freight operators BNSF and UP:  UP (Yuma Subdivision)  BNSF and UP (San Bernardino Subdivision)  BNSF (San Bernardino Subdivision)  UP (Los Angeles Subdivision) These rail lines accommodate freight service in addition to passenger service (Metrolink commuter rail service and limited Amtrak long-distance service). In 2005, the FRA adopted the Final Rule on the use of train horns at public at-grade crossings. The rule states that all trains must sound their horns at all public crossings; however, the rule also includes provisions for communities to establish QZs wherein locomotive horns are not sounded. QZs are established based on either Public Authority Designation or Public Authority Application to FRA. Details on background, overview, approval process and the methods of establishing a QZ are presented in Appendix B-1. The determination of the feasibility of a proposed QZ relies on two basic parameters: Risk Index and Safety Measures. Risk Indices measure predicted cost to society of casualties that are expected to result from collisions at an individual railroad at-grade crossing. These indices are measured as the following:  Nationwide Significant Risk Threshold (NSRT)  Risk Index With Horns (RIWH)  Quiet Zone Risk Index (QZRI) Safety Measures are improvements that are installed at QZs to maximize safety benefits and minimize risks, in the absence of train horns. The FRA Rule categorizes Safety Measures as being either:  Supplemental Safety Measures (SSM), or  Alternative Safety Measures (ASM) Details of Risk Index and Safety Measures are discussed in Appendix B-2. 3.3 QZ Findings The analysis was based on FRA’s established online Quiet Zone Calculator for evaluating the feasibility of implementing a QZ. Inputs into the online FRA QZ calculator determine the risk at a particular crossing or within a corridor containing several crossings, and indicate whether or not a QZ is feasible. Details of data needs for this calculator are presented in Appendix C-1. In addition, since cities are responsible for all costs for implementation of safety measures in order to implement a QZ, a rough order-of-magnitude of cost was developed for each analyzed location; the cost estimates are also presented in Appendix C-1. Based on the results from the FRA Quiet Zone Calculator, there are 11 potential QZ corridors in the study area, which incorporate 27 at-grade crossings. Table 3.2 presents a summary of the 11 potential QZ corridors, including: (1) identification of the crossings that are included in each QZ corridor, (2) the safety measures that would be most appropriate or feasible at each crossing, (3) the estimated cost of the safety measures, (4) total estimated cost of implementing all safety measures in the corridor, (5) the risk analysis results for each QZ corridor when equipped with 254 February 20, 2017 | 16 safety measures, and (6) whether or not the QZ qualifies for implementation considering the risk analysis. Copies of the FRA calculator worksheets for each location are included in Appendix C-2. A QZ qualifies for implementation if one of the following conditions is met:  The QZRI is less than or equal to the NSRT (with or without SSMs or ASMs)  The QZRI is less than or equal to the RIWH (with SSMs or ASMs)  SSMs will be installed at every crossing A next step for local jurisdictions that are interested in implementing QZs is to work with the CPUC and the railroad company that owns the track to initiate the QZ establishment process. Both FRA and SCRRA have guidelines and procedures for QZ implementation. Figure 3.3 is a flowchart from the FRA that outlines the QZ creation process. The SCRRA’s QZ Implementation Guidelines provide information that is applicable to some of the aforementioned QZs. The following items are excerpted from both FRA and SCRRA documents and highlight some of the critical steps necessary to implement a QZ:  Fund the project.  City pays railroad stakeholder engineering costs up-front.  Conduct a diagnostic team meeting with all stakeholders.  Engineering design.  Obtain CPUC approval and submit CPUC GO 88-B applications.  City executes a Construction and Maintenance Agreement, at which time the City pays the full cost of the project.  Submit a Notice of Intent to Create a Quiet Zone to the affected parties. Parties will have 60 days to comment.  Construct crossing improvements.  City obtains Railroad Liability Insurance (if deemed necessary).  City updates the FRA Crossings Inventory.  City provides Notice of Quiet Zone Establishment to affected parties in accordance with FRA Rule Section 222.43.  City installs required signage at each crossing in accordance with FRA Rule Sections 222.25, 222.27, and 222.35. 255 February 20, 2017 | 17 Table 3.2: Summary of Quiet Zone Analysis Jurisdiction Potential QZ Corridor Crossing Location SSM Category Estimated Cost for each SSM Estimated Total Cost Nationwide Significant Risk Threshold (NSRT) Risk Index with Horns (RIWH) Quiet Zone Risk Index (QZRI) Qualified based on QZRI, NSRT, and RIWH Conditions? Possible Designation Options (refer to Table 2, in Appendix B-1) Banning Banning QZ 22nd Street 6 $1,440,000 $1,935,000 14,347.00 85,201.02 16,876.76 Yes. SSMs installed at every crossing ,and QZRI≤ RIWH Option 2 San Gorgonio Street 13 $480,000 Hargrave Street 12 $15,000 Beaumont Beaumont QZ Veile Avenue 13 $0 $2,880,000 14,347.00 23,939.84 8,912.55 Yes. SSMs installed at every crossing, QZRI ≤ RIWH, and QZRI ≤ NSRT Option 2 California Avenue 6 $1,440,000 Pennsylvania Avenue 6 $1,440,000 Calimesa Calimesa QZ San Timoteo Canyon Road 12 $15,000 $15,000 14,347.00 25,130.27 10,479.32 Yes. SSMs installed at every crossing, QZRI ≤ RIWH, and QZRI ≤ NSRT Options 2 or 3 Coachella Coachella QZ Avenue 54 13 $480,000 $480,000 14,347.00 26,931.19 8,984.25 Yes. SSMs installed at every crossing, QZRI ≤ RIWH, and QZRI ≤ NSRT Options 2 or 3 Corona Corona 1 QZ Cota Street 6 $1,440,000 $2,800,000 14,347.00 50,132.93 17,733.98 Yes. SSMs installed at every crossing ,and QZRI≤ RIWH Option 2 Sheridan Street 6 $1,440,000 Joy Street 13 (existing) $0 Corona Corona 2 QZ McKinley Street 6 $1,440,000 $1,440,000 14,347.00 109,001.57 41,817.36 Yes. SSMs installed at every crossing ,and QZRI≤ RIWH Option 2 Jurupa Valley Jurupa Valley QZ Bellegrave Avenue 6 $1,440,000 $4,320,000 14,347.00 80,382.84 30,838.07 Yes. SSMs installed at every crossing ,and QZRI≤ RIWH Option 2 Rutile Avenue 6 $1,440,000 Jurupa Road 6 $1,440,000 City of Riverside Riverside Eastside QZ Palmyrita Avenue 6 $1,440,000 $2,400,000 14,347.00 634,500.32 91,211.47 Yes. SSMs installed at every crossing ,and QZRI≤ RIWH Option 2 Chicago Avenue 13 $480,000 Spruce Street 13 (existing) $0 3rd Street 13 (existing) $0 Mission Inn/7th Street 13 $480,000 Riverside County Thermal QZ Avenue 58 6 $1,440,000 $1,470,000 14,347.00 67,836.21 27,938.75 Yes. SSMs installed at every crossing ,and QZRI≤ RIWH Options 2 or 3 Avenue 62 12 $15,000 Avenue 66 12 $15,000 Cabazon QZ Apache Trail 6 $1,440,000 $1,920,000 14,347.00 29,724.51 10,599.12 Yes. SSMs installed at every crossing, QZRI ≤ RIWH, and QZRI ≤ NSRT Options 2 or 3 Broadway 13 $480,000 Highgrove QZ Main Street 13 $480,000 $1,920,000 14,347.00 30,885.97 11,087.09 Yes. SSMs installed at every crossing, QZRI ≤ RIWH, and QZRI ≤ NSRT Options 2 or 3 Center Street 6 $1,440,000 Source: HDR256 257 February 20, 2017 | 18 Figure 3.3: FRA Guidance on Creating a QZ Source: FRA 258 259 February 20, 2017 | 19 4 Study Findings and Recommendations This study has provided information to address the following questions:  For which locations is a grade separation feasible to construct, and for which is it not feasible?  For which locations are grade separations desirable in the near term (within the next 10 years)?  For which locations are grade separations desirable in the longer-term future (more than 10 years)?  Should any of the existing at-grade crossings be closed?  Which locations could be candidates for quiet zone implementation in the near-term? The following section summarizes the study findings in regard to these questions, with a summary of the findings for the overall corridor followed by findings by jurisdiction. Recommended actions for RCTC and the local jurisdictions are presented in Section 4.2. 4.1 Findings 4.1.1 Corridor Summary Grade Separations Feasibility and Timing At most of the remaining 46 at-grade crossings it is physically feasible to construct a grade separation – four locations have been deemed infeasible and four others require more study. The local agencies have identified 11 grade separations that are desired within the next ten years, and another 14 grade separations within the following ten years. Though the needs for grade separation continue, the means to build them are not currently available. Full funding has been identified for one location, and partial funding has been assembled for another; otherwise no funds have been identified for any of the other desired grade separations The existing funding sources that offer specific application to grade separations may have limited potential. The CPUC provides funding for grade separation projects, but the funding is highly competitive and a grade separation can receive no more than $5 million from this source in a single year (up to $15 million distributed among three to four projects each fiscal year). The 2015 FAST Act established the Nationally Significant Freight and Highway Projects (NSFHP) program to provide financial assistance through competitive grants, known as FASTLANE grants, for goods movement projects including grade separations. The program is authorized to provide up to $4.5 billion for fiscal years 2016 to 2020, to nationally and regionally significant freight and highway projects6. Given that this amount is about $1 billion spread nationally for each fiscal year, it is uncertain whether Riverside County grade separation projects will be able to successfully compete for this funding. Currently, RCTC is working with the Southern California Association of Governments (SCAG) to prioritize critical urban freight corridors, which includes grade separations. Grade separations that have been identified thus far for these corridors in Riverside County include McKinley Road, Jurupa Road, and Third Street. Projects such as these may also be submitted for future funding opportunities such as the next round of U.S. Department of Transportation Nationally Significant Freight and Highway Projects (NSFHP) program grant application, due in December 2016. Funds generated by the Western Riverside County TUMF are eligible for spending on grade 6 FASTLANE Grants: https://www.transportation.gov/buildamerica/FASTLANEgrants 260 February 20, 2017 | 20 separations for roadways on the TUMF network, but TUMF funding is uncertain because it depends on the amount of ongoing development activity. Other existing programs/funding sources that RCTC and the local agencies may be able to tap into are:  USDOT TIGER Discretionary Grants  USDOT FASTLANE Discretionary Grants  Congestion Mitigation & Air Quality (CMAQ)  Transit and Intercity Rail Capital Program (TIRCP)7  Proposition 1B Trade Corridors Improvement Fund (TCIF) Program8  CPUC Highway-Rail Crossing Section 130 Program  CPUC Grade Separation Section 190 Program  Measure A Local Streets and Roads funding Potential Closures Full closure of low-volume at-grade crossings can reduce the potential for conflicts and thereby improve safety. Potential permanent closure of a grade crossing has been identified in three cities where nearby grade separations are available. Each city needs to evaluate the long-term adequacy of the local circulation system without the grade crossing before pursuing the closure. Quiet Zone Feasibility FRA train horn rules provide for communities to establish Quiet Zones wherein locomotive horns are not sounded when a train crosses a public at-grade crossing. QZs are implemented to eliminate horn noise where at-grade crossings are located near residential areas. The analysis used the FRA calculator to evaluate 11 potential QZs comprising a total of 27 at-grade crossings, and found that all 11 would be feasible QZs if implemented with Supplemental Safety Measures. 4.1.2 County of Riverside There are seven at-grade crossings in the County’s jurisdiction – two in the Pass Area, three in the Coachella Valley, and two in Northwest Riverside County. Of these, one location (Avenue 66) is fully funded for a grade separation, and the other six have been identified for potential grade separation in the 10-20 year timeframe. The three areas comprising the seven crossings would qualify for Quiet Zones with implementation of Supplemental Safety Measures. 7 The unsuccessful FY 16 RCTC TIRCP grant application illustrated that standalone grade separation projects will likely not be competitive for TIRCP funds without accompanying track capacity and/or service increases, but some grade separation projects could possibly be funded in conjunction with a larger project (eg. Coachella Valley passenger rail) 8 Bond proceeds are fully committed; continuation of TCIF program is contingent upon enactment of new funding source, as envisioned by SBX 1 (Beall – pending). SBX 1 (Beall) proposes a 30 cent increase in the diesel excise tax and would deposit the attributable revenues (approx. $750 million/year) into the TCIF created by Proposition 1B (2006). The bill would require revenues apportioned to the state from the NHFP established by the FAST Act to be allocated for trade corridor improvement projects approved pursuant to these provisions. The original TCIF program funded many grade separations. The bill would also expand eligible projects to include rail landside access improvements, landside freight access improvements to airports, and certain capital and operational improvements. 261 February 20, 2017 | 21 4.1.3 City of Banning There are three at-grade crossings in the City of Banning. Grade separations for two locations are desired in the next ten years and within 20 years for the third. This area would quality for a Quiet Zone with implementation of Supplemental Safety Measures. 4.1.4 City of Beaumont There are three at-grade crossings in the City of Beaumont. Grade separation of one location is desired in the 0-10 year timeframe and for a second location in the 10-20 year timeframe. The third crossing may be permanently closed if nearby planned circulation improvements are implemented. This area would quality for a Quiet Zone with implementation of Supplemental Safety Measures. 4.1.5 City of Calimesa There is one at-grade crossing in the City of Calimesa in San Timoteo Canyon. This location could be a candidate for grade separation in the 10-20 year timeframe depending on the area’s development and traffic growth at the crossing. This location would quality for a Quiet Zone with implementation of Supplemental Safety Measures. 4.1.6 City of Coachella There is one remaining at-grade crossing in the City of Coachella. This location is a possible candidate for permanent closure if the nearby circulation system is adequate to serve planned development. This location would quality for a Quiet Zone with implementation of Supplemental Safety Measures. 4.1.7 City of Corona There are seven remaining at-grade crossings in the City of Corona. Grade separation is desired for one of these in the 0-10 year timeframe (McKinley Street) and partial funding has been secured. Two locations are expected to need grade separation in the 10-20 year timeframe, and it would not be feasible to construct grade separations at the other four. The two areas identified as potential Quiet Zones would quality with implementation of Supplemental Safety Measures. 4.1.8 City of Jurupa Valley There are three at-grade crossings in the City of Jurupa Valley. Grade separations are desired at two of these locations in the 0-10 year timeframe. The third location may be a candidate for permanent closure if the nearby circulation system is adequate to serve planned development. This area would quality for a Quiet Zone with implementation of Supplemental Safety Measures. 4.1.9 City of Palm Springs There is one at-grade crossing in the City of Palm Springs. That location may be a candidate for grade separation in the 10-20 year timeframe if development occurs in the area and traffic volumes at the crossing increase. 4.1.10 City of Riverside There are 20 at-grade crossings in the City of Riverside – three on the UP Los Angeles Sub and 17 on the BNSF San Bernardino Sub. Four locations are desired for grade separation in the 0-10 year timeframe. For the other 16 locations 262 February 20, 2017 | 22 the City is pursuing Quiet Zones. There is an active Quiet Zone project in design for the three crossings (Palm Avenue, Brockton Avenue, Panorama Avenue) on the UP line. A Quiet Zone is being established in 2016 that covers 11 crossings on the BNSF line (Buchanan Street, Pierce Street, Tyler Street, Harrison Street, Gibson Street, Jackson Street, Adams Street, Jefferson Street, Madison Street, Washington Street, and Mary Street) ; a Quiet Zone is planned for fiscal year 2020/21 for three crossings on the BNSF line (7th Street, 3rd Street, and Spruce Street); and a potential Quiet Zone has been identified for implementation in the next 5-10 years that covers the remaining two crossings on the BNSF line (Chicago Avenue, Palmyrita Avenue). The area comprising the five planned/potential crossings would qualify for a Quiet Zone with implementation of Supplemental Safety Measures. Table 4.1 summarizes the study findings and presents the status of each of the remaining 46 at-grade crossings. Table 4.1: Study Findings Priority Ranking Jurisdiction Rail Line Cross Street Status 1: 9 Locations Riverside BNSF & UP (SB SUB) Spruce Street Top priority Corona BNSF (SB SUB) McKinley Street Partial funding, desired within 10 years Riverside BNSF & UP (SB SUB) Chicago Avenue Potential QZ in the next 5-10 years Banning UP (YUMA MAIN) Hargrave Street Desired in the next 10 years Riverside BNSF & UP (SB SUB) 3rd Street Top priority Corona BNSF (SB SUB) Joy Street Infeasible Riverside BNSF (SB SUB) Madison Street Established QZ (November 2016) Riverside BNSF (SB SUB) Adams Street Established QZ (November 2016) Riverside BNSF (SB SUB) Tyler Street Established QZ (November 2016) 2: 9 Locations Jurupa Valley UP (LA SUB) Bellegrave Avenue Desired in the next 10 years Jurupa Valley UP (LA SUB) Jurupa Road Desired in the next 10 years Banning UP (YUMA MAIN) 22nd Street Desired in the next 10 -20 years Beaumont UP (YUMA MAIN) Veile Avenue Desired in the next 10 -20 years Banning UP (YUMA MAIN) San Gorgonio Avenue Desired in the next 10 years Riverside County UP (YUMA MAIN) Avenue 62 Desired in the next 10 -20 years Riverside County UP (YUMA MAIN) Avenue 66 Fully funded, desired in next 10 years Riverside BNSF (SB SUB) Pierce Street Established QZ (November 2016) Beaumont UP (YUMA MAIN) California Avenue Possible candidate for full closure 3: 11 Locations Corona BNSF (SB SUB) Sheridan Street Infeasible Jurupa Valley UP (LA SUB) Rutile Street Possible candidate for full closure Riverside BNSF (SB SUB) Mary Street Top priority Riverside BNSF (SB SUB) Jackson Street Top priority Corona BNSF (SB SUB) Smith Avenue Desired in the next 10 -20 years 263 February 20, 2017 | 23 Table 4.1: Study Findings Priority Ranking Jurisdiction Rail Line Cross Street Status Beaumont UP (YUMA MAIN) Pennsylvania Avenue Desired in the next 10 years Riverside County BNSF & UP (SB SUB) Center Street Desired in the next 10 -20 years Riverside BNSF (SB SUB) Washington Street Established QZ (November 2016) Riverside BNSF & UP (SB SUB) 7th Street QZ planned for FY 2020/2021 Riverside County UP (YUMA MAIN) Apache Trail Desired in the next 10 -20 years Corona BNSF (SB SUB) Cota Street Infeasible 4: 8 Locations Riverside BNSF (SB SUB) Buchanan Street Established QZ (November 2016) Riverside County UP (YUMA MAIN) Broadway Desired in the next 10 -20 years Riverside BNSF (SB SUB) Jefferson Street Established QZ (November 2016) Corona BNSF (SB SUB) Railroad Street Desired in the next 10 -20 years Calimesa UP (YUMA MAIN) San Timoteo Canyon Road Potential in the next 10 -20 years Riverside BNSF & UP (SB SUB) Palmyrita Av (UP) Potential QZ in the next 5-10 years Coachella UP (YUMA MAIN) Avenue 54 Possible candidate for full closure Riverside UP (LA SUB) Brockton Avenue Active QZ project in design 5: 9 Locations Riverside BNSF & UP (RIV) Cridge Street Active QZ project in design Riverside UP (LA SUB) Panorama Road Active QZ project in design Palm Springs UP (YUMA MAIN) Tipton Road Potential in the next 10 -20 years Riverside BNSF (SB SUB) Harrison Street Established QZ (November 2016) Riverside UP (LA SUB) Palm Avenue Active QZ project in design Corona BNSF (SB SUB) Radio Road Infeasible Riverside County BNSF & UP (SB SUB) Main Street Desired in the next 10 -20 years Riverside County UP (YUMA MAIN) Avenue 58 Desired in the next 10 -20 years Riverside BNSF (SB SUB) Gibson Street Established QZ (November 2016) Source: HDR 4.2 Recommendations and Next Steps The local jurisdictions have identified 11 grade crossings as desirable for grade separation in the next ten years. These locations were all in the top three priority groups in the 2012 study – four were in priority ranking #1, four were in priority ranking #2, and the remaining three were in priority ranking #3 – so the current local priorities are generally consistent with the technical prioritization analysis of 2012. Therefore the recommended actions by RCTC and the local jurisdictions (see below) are focused on identifying and pursuing sources of funding for these 11 locations, which include: 264 February 20, 2017 | 24  One in the County of Riverside o Avenue 66 (fully funded) – priority ranking #2 in 2012 Study  One in the City of Corona o McKinley Street (partially funded) – priority ranking #1 in 2012 Study  One in the City of Beaumont o Pennsylvania Avenue – priority ranking #3 in 2012 Study  Two in the City of Banning o San Gorgonio Avenue – priority ranking #2 in 2012 Study o Hargrave Street – priority ranking #1 in 2012 Study  Two in the City of Jurupa Valley o Bellegrave Avenue – priority ranking #2 in 2012 Study o Jurupa Road – priority ranking #2 in 2012 Study  Four in the City of Riverside o Jackson Street – priority ranking #3 in 2012 Study o Mary Street – priority ranking #3 in 2012 Study o 3rd Street – priority ranking #1 in 2012 Study o Spruce Street – priority ranking #1 in 2012 Study The study’s recommendations are as follows:  RCTC should explore the funding potential and process for obtaining grade separation funding through the National Highway Freight Program (NHFP) and other applicable federal and state funding sources, and work with regional and local partners to pursue those funds if the potential return appears promising and the opportunity is realistic.  The local jurisdictions should collaborate with RCTC and pursue funding for their higher-priority grade separations through sources available to them, including the TUMF and the CPUC programs.  The local jurisdictions that have identified needs for Quiet Zones should continue to pursue their implementation. The technical analysis included in this report justifies the establishment of QZ where the need has been identified by the local jurisdiction. 265 February 20, 2017 | A-1 Appendix A: City of Riverside Council Action, 02.09.17 266 267 268 269 270 271 272 273 274 275 February 20, 2017 | -1 Appendix B: Quiet Zone Analysis Background 276 277 B-1-i B-1: Overview, Approval Process and Method of Establishing QZ Definition and Background Train horn rules are established by the FRA. In 2005, the FRA adopted the Final Rule on the use of train horns at public at-grade crossings. The rule states that all trains must sound their horns at all public crossings; however, the rule also includes provisions for communities to establish QZs wherein locomotive horns are not sounded. QZ refers to a segment of a railroad line that has one or more consecutive public highway-rail crossings at which locomotive horns are not routinely sounded. Under normal conditions within the QZ, train horns will not be used. However, when a locomotive engineer perceives a dangerous condition, such as trespassers on the railroad or a car stopped on the tracks, he or she can use the locomotive horn at their discretion. Additionally, railroad construction activities within a QZ require the locomotive engineer to sound the train horn as an added safety measure. The FRA Rule also allows for either 24-hour QZ or Partial QZ, which are in effect only during the evening or nighttime hours. Wayside Horns The FRA rule also allows cities to install Wayside Horns, which are stationary horns that emit a sound similar to a train horn, but directed perpendicular to the railroad right of way (ROW). The sound emanating from a Wayside Horn is aimed directly towards vehicles and pedestrians at the roadway thus minimizing and confining the “sound footprint” to a smaller area as compared to the sound footprint of a train horn. A wayside horn, also known as an Automated Horn System (AHS), consists of a post-mounted, stationary horn located at a highway-rail grade crossing that is designed to provide audible warning to oncoming motorists when a train is approaching. A wayside horn is controlled by the same track circuitry that is configured to activate automatic warning devices at highway-rail grade crossings. The audible signal supplants the need for the routine sounding of locomotive horns at railroad crossings. Figure 1 from an AHS vendor website (www.quietzonetech.com) shows the comparative sound-footprint of an AHS and a locomotive moving through a crossing. The figure indicates that at identical decibel levels, the “sound footprint” created by an AHS is significantly smaller than that from a train horn. Figure 1: Wayside Horn (AHS) Sound Footprint Source: www.quietzonetech.com 278 B-1-ii Quiet Zone Approval Process Establishment of a QZ is a city-initiated process. Each city would need to obtain approval from the railroad stakeholder, the California Public Utilities Commission (CPUC) and the FRA. Table 1 provides a listing of the approving agency as well as its governing process and a contact person from each agency. Table 1: Agency Contacts for Quiet Zone Establishment Agency Required Process, Procedure, or Guidelines Contact Person Caltrans GO 88-B Concurrence and potentially an Encroachment Permit David Buzon (909) 889-7867 CPUC General Orders (GO) GO-26D GO-75 GO 88-B Sergio Licon (213) 576-7085 FRA 49 CFR Parts 222 and 229 Use of Locomotive Horns at Highway-Rail Grade Crossings; Final Rule LeeAnn Dickson leeann.dickson@dot.gov BNSF 49 CFR 222.43(b) Notice of Intent 49 CFR 222.43(d) Notice of Quiet Zone Establishment GO 88-B Jason L. Sanchez (909) 386-4474 UP 49 CFR 222.43(b) Notice of Intent 49 CFR 222.43(d) Notice of Quiet Zone Establishment GO 88-B Daniel Z. Moreno (909) 685-2288 Southern California Regional Rail Authority (SCRRA) SCRRA Quiet Zone Guidelines and Procedures and SCRRA Highway-Rail Grade Crossings Manual Naresh Patel, PE (909) 392-8401 Source: HDR Methods for Establishing a Quiet Zone The FRA Rule describes two methods of establishing a QZ:  Public Authority Designation; and  Public Authority Application to FRA. Public Authority Designation With the Public Authority Designation method, a formal application to and approval by FRA is not required. A city, acting as the “public authority” must demonstrate that the implementation of SSM “reduces the risk index to a level that is equal to or less NSRT at gated crossings with horns, or the risk is reduced enough to compensate for the loss of the safety benefit afforded by a train sounding its horn.” Two basic prerequisites that must be met under the Public Authority Designation Method are:  Each public crossing within a New QZ must at a minimum be equipped with gates and constant warning time devices.  A QZ must be at least one half mile in length. 279 B-1-iii Table 2 presents details of the three options for a Public Authority Designation. Table 2: Public Authority Designation Options Option Description Reporting Requirements Periodic Update of Inventory Forms Option 1 A QZ may be designated if the existing QZRI, is below the NSRT. Every 2 ½ to 3 years Option 2 A QZ may be designated if SSMs are applied to every public at-grade crossing within the QZ. Every 4 ½ to 5 years Option 3 A QZ may be designated if SSMs/ASMs are instituted and results in a reduction of the QZRI to a level below the NSRT, or to the risk level which would exist if locomotive horns sounded at all crossings within the zone. Subject to Annual Review by the FRA Periodic updates required every 2 ½ to 3 years Source: FRA Public Authority Application to FRA The Public Authority Application method, which would employ ASMs or Modified SSMs, is desirable only as a last resort if the requirements of the Public Authority Designation method cannot be met. ASMs require FRA approval for that specific safety measure before construction can begin. 280 B-2-i B-2: Risk Index and Safety Measures Determination of the feasibility of a proposed Quiet Zone relies on two basic parameters: Risk Index and Safety Measures, described below. Risk Indices The term “risk index” refers to the predicted cost to society of casualties that are expected to result from collisions at an individual railroad at-grade crossing. The two components of a risk index are predicted cost of fatalities; and predicted cost of injuries. These costs are based on a formula published by the United States Department of Transportation (USDOT). The USDOT prediction formula allow users to rank crossings for safety improvements by the probability of a collision occurring. Outputs of the USDOT prediction formula include predicted collisions, probability of a fatal collision, and the probability of a casualty collision (which includes both fatalities and injuries). The following terms used in the formula are referenced throughout this report:  Nationwide Significant Risk Threshold (NSRT): The average Risk Index of all public gated highway-rail grade crossings in the nation at which train horns are routinely sounded.  Risk Index With Horns (RIWH): A measure of risk to the motoring public when locomotive horns are routinely sounded at every public highway-rail grade crossing within a quiet zone.  Quiet Zone Risk Index (QZRI): The average risk index for all public crossings in a proposed QZ, taking into consideration the increased risk caused by the absence of train horns and any decrease in risk attributable to the use of Supplemental Safety Measures (SSM) or Alternative Safety Measures (ASM). Quiet Zone Safety Measures The FRA rule describes two categories of safety measures that can be implemented to establish a QZ:  SSM – Supplemental Safety Measures  ASM – Alternative Safety Measures Supplemental Safety Measures SSM are infrastructure improvements, which when installed at highway-rail grade crossings within a QZ, would reduce the risk of a collision at the crossing. SSMs are installed to reduce the risk level either to the level that would have existed if the train horn were sounded (compensating for the lack of the train horn) or to a level below the NSRT. Approved SSMs include:  Four quadrant gates  Gates with medians or channelization devices Alternative Safety Measures ASM are safety systems or procedures provided by the appropriate traffic control authority which, after individual review and analysis, are determined by the FRA to be an effective substitute for the locomotive horn at specific highway-rail grade crossings. ASMs include:  Modified Supplementary Safety Measures: An SSM that has in some way been adjusted to accommodate unique circumstances existing at a specific highway-rail grade crossing and no longer conforms to the SSM requirements. Modified SSMs are considered ASMs. An example of a modified SSM would be traffic 281 B-2-ii channelization devices that due to a nearby intersection are only 45 feet in length instead of the required minimum of 60 feet.  Engineering Alternative Safety Measures: Engineering improvements other than modified SSMs include improvements that address underlying geometric conditions, including sight distance, that are a source of increased risk at the crossing.  Non-engineering Alternative Safety Measures: Photo enforcement or a consistent and systematic program of traffic law enforcement, public education programs, or a combination thereof, that produces a measurable reduction of risk at designated QZ highway-rail grade crossings. 282 283 February 20, 2017 | -1 Appendix C: Quiet Zone Analysis and Calculations 284 285 C-1-i C-1: QZ Analysis Data Considered for Quiet Zone Analysis The FRA has established an online calculator tool for evaluating the feasibility of implementing a QZ. Inputs into the online FRA QZ calculator determine the risk at a particular crossing or within a corridor containing several crossings, and indicates whether or not a QZ is feasible. The FRA calculator requires the following factors in order to determine risk: Roadway factors for the arterial that crosses the at-grade crossing:  Traffic volume  Posted speed  Number of traffic lanes  Urban or rural location  Paved or non-paved roadway approaches  Accident history within the past 5 years Railroad factors at the at-grade crossing:  Maximum speed  Number of tracks, both main tracks and non-main tracks  Train counts: total trains, switching movements, through trains  Daytime and nighttime train movements.  Table 3 documents the existing conditions, roadway and railroad data for all 27 crossings that was input into the FRA QZ calculator to determine QZ feasibility. The 27 crossings have been grouped into ten potential QZ corridors based on jurisdiction and railroad ownership. The results of the FRA QZ calculator are presented in Appendix C-2 286 287 C-1-ii Table 3: Data Considered for Quiet Zone Analysis Jurisdiction Potential QZ Corridor Crossing Location DOT # CPUC # Existing Condition Data Roadway Data (2016) Railroad Data (2016) # of Roadway Lanes Surrounding Land Uses Existing SSMs Present Warning Devices* Annual Average Daily Traffic Highway Paved? 1= yes Urban-Rural Location 0=rural 1=urban Number of Accidents in the past 5 years Total Number of Train Movements per Day Total Number of Through Trains per Day Total Number of Switch Trains per Day Number of Main Tracks Total Number of Tracks (Main and Other) Number of Through Trains per Day During Daylight Max. Time table Speed, MPH Total Fatal Banning Banning QZ 22ND STREET 760691G 095C-47.40 4 Residential N/A G 14,670 1 1 0 0 34 34 2 2 2 17 60 HARGRAVE STREET 760695J 001B-568.80 2 Residential N/A G 17,756 1 1 0 0 34 34 2 2 2 17 60 SAN GORGONIO AVENUE 760694C 001B-568.20 2 Industrial N/A G 12,783 1 1 1 1 34 34 2 2 2 17 60 Beaumont Beaumont QZ CALIFORNIA AVENUE 760686K 001B-562.20 2 Industrial N/A G 9,821 1 1 0 0 34 34 2 2 2 17 50 PENNSYLVANIA AVENUE 760688Y 001B-563.10 2 Industrial N/A G 10,455 1 1 0 0 34 34 2 2 2 17 60 VEILE AVENUE 760685D 001B-561.80 2 Industrial Non-traversable Curb Median G 2,261 1 1 0 0 34 34 2 2 5 17 50 Calimesa Calimesa QZ SAN TIMOTEO CANYON ROAD 760678T 001B-554.90 2 Residential N/A G 2,350 1 0 0 0 34 34 0 1 1 17 60 Coachella Coachella QZ AVENUE 54 912104B 001B-616.72 4 Commercial N/A G 2,418 1 1 0 0 32 32 2 1 1 16 79 Corona Corona 1 QZ COTA STREET 026527G 002B-24.50 2 Industrial N/A G 5,616 1 1 0 0 72 72 0 2 3 36 60 JOY STREET 026524L 002B-23.83 4 Industrial Non-traversable Curb Median G 11,717 1 1 1 0 72 72 0 2 3 36 60 SHERIDAN STREET 026526A 002B-24.34 2 Commercial N/A G 3,894 1 1 0 0 72 72 0 2 3 36 60 Corona Corona 2 QZ MCKINLEY STREET 026519P 002B-21.20 4 Commercial N/A G 41,115 1 1 1 1 72 72 0 2 2 36 60 Jurupa Valley Jurupa Valley QZ BELLEGRAVE AVENUE 810977P 003-47.10 2 Industrial N/A G 12,225 1 1 0 0 40 40 2 1 1 20 70 JURUPA ROAD 810979D 003-48.20 2 Industrial N/A G 13,972 1 1 2 0 40 40 2 1 1 20 70 RUTILE STREET 810978W 003-47.30 2 Industrial N/A G 8,821 1 1 1 1 40 40 2 1 1 20 70 Riverside Riverside Eastside QZ 3RD STREET 026480N 002B-9.50 4 Industrial Non-traversable Curb Median G 11,603 1 1 1 0 79 79 0 3 3 40 55 CHICAGO AVENUE 026476Y 002B-8.10 4 Industrial N/A G 10,222 1 1 3 1 79 79 0 3 3 40 60 MISSION INN (7TH STREET) 026485X 002B-9.75 4 Industrial N/A G 7,850 1 1 2 1 79 79 0 3 3 40 60 PALMYRITA AVENUE 026474K 001BJ-543.20 2 Industrial N/A G 3,806 1 1 0 0 79 79 0 3 3 40 60 SPRUCE STREET 026478M 002B-8.80 4 Industrial Non-traversable Curb Median G 19,010 1 1 1 0 79 79 0 3 3 40 60 Riverside County Thermal QZ 4TH STREET (66TH AVENUE) 760732J 001B-623.90 2 Residential Mountable Median G 8,523 1 0 1 0 32 32 2 1 1 16 79 AVENUE 58 760730V 001B-619.20 2 Industrial N/A G 1,943 1 0 0 0 32 32 2 2 2 16 79 AVENUE 62 760731C 001B-621.60 2 Vacant N/A G 8,378 1 0 1 0 32 32 2 1 1 16 79 Cabazon QZ APACHE TRAIL 760696R 001B-572.60 2 Commercial N/A G 3,116 1 0 0 0 32 32 2 2 2 16 60 BROADWAY STREET 760697X 001B-574.00 2 Commercial N/A G 6,191 1 0 0 0 32 32 0 2 2 16 60 Highgrove QZ CENTER STREET 026471P 002B-6.70 4 Residential N/A G 6,256 1 1 0 0 106 106 0 3 4 53 50 MAIN STREET 026470H 002B-6.40 2 Industrial N/A G 2,456 1 1 0 0 106 106 0 3 3 53 60 Source: HDR * Present Warning Devices: G = Gates, L = Lights, P = Passive 288 289 C-1-iii Conceptual Cost Estimate Generally, cities are responsible for all costs for SSM implementation in order to obtain a QZ. Table 4 presents the estimated unit cost for the SSM categories. Table 4: Unit Cost for Grade Crossing based on SSM Categories SSM Category SSM Description Estimated Cost 6 Four-Quadrant Gates Upgrade from Two-Quadrant Gates, with Vehicle Presence Detection, Presumes Pedestrian Gates Required $1,440,000 12 Mountable Medians with Reflective Traffic Channelization Devices $15,000 13 Non-Traversable Curb Medians with or without Channelization Devices, Presumes Pedestrian Gates Required $480,000 Source: Caltrans 290 291 C-2: QZ Calculation 292 293 C-2-i Quiet Zone Calculation for Banning QZ: 294 C-2-ii Quiet Zone Calculation for Beaumont QZ: 295 C-2-iii Quiet Zone Calculation for Calimesa QZ: 296 C-2-iv Quiet Zone Calculation for Coachella QZ: 297 C-2-v Quiet Zone Calculation for Corona 1 QZ: 298 C-2-i Quiet Zone Calculation for Corona 2 QZ: 299 C-2-i Quiet Zone Calculation for Jurupa Valley QZ: 300 C-2-ii Quiet Zone Calculation for Riverside Eastside QZ: 301 C-2-iii Quiet Zone Calculation for Thermal QZ (Riverside County): 302 C-2- Quiet Zone Calculation for Cabazon QZ (Riverside County): 303 C-2-i Quiet Zone Calculation for Highgrove QZ (Riverside County): 304 © 2014 HDR Architecture, Inc., all rights reserved.© 2014 HDR Architecture, Inc., all rights reserved.© 2014 HDR Architecture, Inc., all rights reserved.© 2014 HDR, Inc., all rights reserved.© 2014 HDR, Inc., all rights reserved.© 2014 HDR, Inc., all rights reserved.© 2016 HDR, Inc., all rights reserved. © 2016 HDR, Inc., all rights reserved. Grade Separation Priority Update Study for Alameda Corridor East (Riverside County), 2012 2017 COMPANION STUDY FOR: March 08, 2017 RCTC Commission Meeting BACKGROUND PURPOSE AND PROCESS UPDATES ON AT-GRADE CROSSINGS QUIET ZONES RECOMMENDATIONS 2000: Countywide railroad grade crossing priority study for 62 locations along BNSF and UP corridors 2006 and 2008: Funding Strategy developed and adopted $500.3 Million from local/state/federal funding sources invested in: o Construction of 14 grade separations o Closure of 2 at-grade crossings 2012 Grade Separation Priority Update Study for remaining 46 locations 2016: Companion Study for the 2012 Grade Separation Priority Update Study 01: BACKGROUND Purpose: to obtain updated information regarding the feasibility and desirability of improving remaining 46 at-grade crossings Process: Questionnaire submitted to the County and Cities with at-grade crossings, followed by one- on-one meetings to understand whether: o Grade separations are technically feasible, or still viable; o Recent events or circumstances have changed the project priority for the local agency; o Desired grade separations are near-term or long-term projects; o Any at-grade crossings should be completely closed; o Quiet Zones (QZ) are desired. 02: PURPOSE AND PROCESS Funding o 46 at-grade crossings with $1.7 Billion total price tag to grade separate o One fully funded grade separation project (Avenue 66) o One partially funded project (McKinley Street in Corona, with $7.3 Million of funding which is 8% of total cost) Priority Changes o Changes in City of Riverside (Jackson Street, Spruce Street, 3rd Street, Mary Street and Madison Street) o Direction to issue RFP to complete PA&ED phase for 3rd Street grade separation Technical Feasibility o Four infeasible in City of Corona (Cota Street, Sheridan Street, Joy Street and Radio Road) 03: UPDATES ON AT-GRADE CROSSINGS Near Term Grade Separation Projects o 11 desired in next ten years •One in Riverside County (Avenue 66) •One in Corona (McKinley Street) •One in Beaumont (Pennsylvania Avenue) •Two in Banning (San Gorgonio Avenue and Hargrave Street) •Two in Jurupa Valley (Bellegrave Avenue and Jurupa Road) •Four in the City of Riverside (Jackson Street, Mary Street, 3rd Street and Spruce Street) Potential Closures o Three locations (California Avenue in Beaumont, Avenue 54 in Coachella, and Rutile Street in Jurupa Valley) Quiet Zones o Desired in Riverside, Corona, Banning and County 03: UPDATES ON AT-GRADE CROSSINGS Quiet Zone Analysis done on 27 out of 46 locations. Remaining 19 out of 46 locations eliminated due to: o Quiet Zone being currently implemented (11 locations in Riverside) o No residential land use within 1,200-foot buffer (three locations in Corona and one location in Palm Springs) o Quiet Zone in design stage and/or contains Wayside Horn (four locations in Riverside) Analysis based on FRA’s online Quiet Zone Calculator All 27 locations analyzed qualify for Quiet Zone 04: QUIET ZONES RCTC and local jurisdictions to explore funding potential of the National Highway Freight Program (NHFP) and other applicable federal and state sources Local jurisdictions to pursue funding through sources available to them, including the TUMF and the CPUC programs Local jurisdictions to pursue implementation of Quiet Zones where need has been identified 05: RECOMMENDATIONS QUESTIONS? © 2014 HDR Architecture, Inc., all rights reserved.© 2014 HDR Architecture, Inc., all rights reserved.© 2014 HDR Architecture, Inc., all rights reserved.© 2014 HDR, Inc., all rights reserved.© 2014 HDR, Inc., all rights reserved.© 2014 HDR, Inc., all rights reserved.© 2016 HDR, Inc., all rights reserved.