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Resolution No. 07-102
CITY OF THE COLONY, TEXAS RESOLUTION NO. 07- / Of- A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS, ACCEPTING THE SEPTEMBER 28TH, 2007 QUARTERL Y INVESTMENT REPORT PREPARED BY A V ALON FINANCIAL SERVICES, WHICH IS ATTACHED HERETO AND INCORPORATED HEREIN AS EXHIBIT "A"; AND PROVIDING AN EFFECTIVE DATE WHEREAS, the quarterly investment report, prepared by Avalon Financial Services, dated September 28,2007, have been presented to the City Council; and WHEREAS, the City Council has determined it to be in the best interest of the City to have an official record of its acceptance of such documents; and WHEREAS, the City Council hereby accepts the September 28, 2007 Quarterly Investment Report prepared by Avalon Financial Services, which is attached hereto and incorporated herein as Exhibit "A." NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF THE COLONY, TEXAS THAT: Section 1. The City Council hereby accepts the September 28, 2007 Quarterly Investment Report prepared by Avalon Financial Services, which is attached hereto and incorporated herein as Exhibit "A." Section 2. This Resolution shall become effective immediately from and after its passage, as the law and charter in such cases provides. PASSED, APPROVED and EFFECTIVE this 3rd day of December. 2007. ~1: ~ ~jJlJ 1 ,( lY'- IstIe WIlson, CIty Secretary ~~ ~ .... ,/ ~j,^,:'j;~"C' "'" t. ~ ,_,. '":'":"';$/J);"; City of The Colony INVESTMENT PORTFOLIO SUMMARY For the Quarter Ended September 28, 2007 The investment portfolio of the City is in compliance with the Public Funds Investment Act and the City rnv;;r Q iFO Rebecca 00, Director of . inance e.J)~ Gwen Mansfield, Accounting Manager Strategy Summary: The fallout from the sub-prime mortgage market collapse and weaker employment and economic data pushed the FOMC to reduce the fed funds target 50 bps to 4.75% on September 18th. Anticipating the action, the market rallied to lower yields during late July, August, and early September. Some experts expect additional target cuts. Others speculate the FOMC did one, big, bold move to calm fears and will watch future economic activity before additional moves (down or up). Quarterend Results by Investment Category: Pools Securities Asset TVDe Ave. Yield 5.31% 5.39% September 28, 2007 End Book Value End Market Value $32,619,598.53 $32,619,598.53 11,506,126.74 11,535,287.80 $44,125,725.27 $44,154,886.33 June 29, 2007 Beain Book Value Beain Market Value $28,368,038.49 $28,368,038.49 10,352,942.49 10,357,794.60 $38,720,980.98 $38,725,833.09 Totals Average Yield (1) Total Portfolio 5.33% Fiscal Year-to-Date Average Yield (2) Total Portfolio 5.30% Rolling Three Mo. Treas. Yield Rolling Six Mo. Treas. Yield 4.44% 4.81% Rolling Three Mo. Treas. Yield Rolling Six Mo. Treas. Yield Average Quarterly TexPool Yield 4.86% 5.04% 5.25% (1) Average Yield calculated using quarterend report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. (2) Fiscal Year-to-Date Average Yields calculated using quarterend report yields and adjusted book values and does not reflect a total return analysis or account for advisory fees. , 5.50 5.30 -~- 5.10 4.90 ~ ell 4.70 eo: .. = 4.50 ~ eJ ... 4.30 ~ ~ 4.10 3.90 3.70 3.50 O~ Ic~O ~~~ ~ ~ ~~ ~~~ ~~~ '\. f); ", <;4.: Treasury Yield Curves ~ ~~ '\.~ - September 29, 2006 - June 29, 2007 - September 28, 2007 Valley View Consulting, L.L.C. 7.50 7.00 6.50 6.00 5.50 5.00 Q) 4.50 OJJ C\j ..... t:: 4.00 Q) C,) ~ Q) ~ 3.50 3.00 2.50 2.00 1.50 1.00 0.50 US Treasury Historical Yields <I'b <1"1 ff\ <1"1 <1"1 ~ ~ ~ ...<'11:\ >:I' >:I' >:I' >:I' >:I"\- >:I"\- >:I"\- _co,"\- >:I'" >:I'" >:I'" ...<'I'" cl" cl" cl" d' >:I'" >:I'" >:I'" _co,'" do do do _co,lo >:I" >:I" ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ \~ ~ \~ ~ \~ ~ \~ ~ \~ ~ ~ ~ \~ ~ \~ ~ \~ ~ ~ ~ \~ ~ \~ ~ \~ ~ \~ ~ \~ ~ \~ ~ \~ ~ \~ ,1:\\ , ~\ " ,1:\\ , ~\ " ,1:\\ , I>< " ,1:\\ , ~ " ,1:\\ , ~\ " ,1:\\ , ~\ " ,1:\\ , ~\ " ,1:\\ , ~\ " ,1:\\ , ~\ " I-Six Month -Two Year -Ten Year I Valley View Consulting. L.L.c. o ~ SO ~Oj ~Oj ~Cj ~Cj v~ v~ ~ ~ 1,750 1,500 1,250 1,000 750 500 250 S&P 500 -- -----------------------------..------..---..------------------- -"_._-..---~ ---- - ~ ~ ~ ~ ~ ~ ~ ~ ~ so ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ~ ,?-~<:$ ,?-~<:$ ,?-~<:$ ,?-~<:$ ,?-~<:$ ,?-~<:$ ,?-~<:$ ,?-~<:$ ,?-~<:$ ,?-~<:$ ,?-~<:$ I-s&p 5001 Valley View Consulting, L.L.C. Detail of Security Holdings September 28, 2007 Adjusted Ticket Security Coupon/ Settlement Maturity Call Original Face\ Book Market Market Life Number Descri tion Ratin Discount Date Date Date Par Value Value Price Value da s Yield TexPool AMm 5.13% 9/28/2007 9/29/2007 $10,689,091.25 $10,689,091.25 1.00 $10,689,091.25 1 5.13% LOGIC AMm 5.39% 9/28/2007 9/29/2007 21,930,507.28 21,930,507.28 1.00 21,930,507.28 1 5.39% 06=03 FHLB AM 5.14% 4/5/2006 10/5/2007 10/5/2006 500,000.00 500,000.00 100.00 500,000.00 7 5.14% 07=09 FHLMC AM 4.63% 5/22/2007 10/5/2007 544,000.00 542,595.39 99.77 542,748.80 7 5.31% 07=08 FHLB AM 3.36% 5/22/2007 10/29/2007 560,000.00 555,363.20 99.88 559,328.00 31 5.30% 07=13 FFCB AM 2.78% 6/22/2007 12/3/2007 550,000.00 543,807.00 99.63 547,965.00 66 5.37% 07=17 FHLMC AM 3.55% 7/19/2007 2/20/2008 1,000,000.00 989,920.00 99.46 994,600.00 145 5.31% 07=14 FHLMC AM 4.13% 6/28/2007 2/25/2008 735,000.00 729,267.00 99.66 732,501.00 150 5.34% 07=04 FHLB AM 5.30% 3/20/2007 3/19/2008 6/19/2007 500,000.00 500,000.00 100.05 500,250.00 173 5.30% 07=10 FHLB AM 5.25% 5/22/2007 5/1/2008 500,000.00 499,755.65 100.01 500,050.00 216 5.35% 06=32 FHLB AM 5.38% 12/18/2006 6/18/2008 1/18/2007 600,000.00 600,000.00 100.05 600,300.00 264 5.38% 07=03 FHLB (step) AM 4.50% 3/20/2007 8/15/2008 8/15/2007 500,000.00 497,500.00 100.27 501,350.00 322 5.47% 07=02 FHLB (step) AM 4.00% 3/20/2007 8/20/2008 8/20/2007 150,000.00 148,918.50 99.97 149,955.00 327 5.75% 07=07 FHLMC AM 5.40% 4/11/2007 1 0/9/2008 1,000,000.00 1,000,000.00 100.00 1,000,000.00 377 5.40% 07=11 FHLB AM 5.40% 5/24/2007 11/24/2008 8/24/2007 500,000.00 500,000.00 100.06 500,300.00 423 5.40% 07=12 FHLB AM 5.35% 6/11/2007 12/4/2008 9/4/2007 1,000,000.00 999,450.00 100.06 1,000,600.00 433 5.59% 06=28 FHLB AM 5.35% 12/5/2006 12/5/2008 3/5/2007 500,000.00 500,000.00 100.06 500,300.00 434 5.35% 07=06 FHLB AM 5.45% 4/16/2007 4/16/2009 7/16/2007 1,000,000.00 1,000,000.00 100.02 1,000,200.00 566 5.45% 07=16 FHLB AM 5.38% 7/2/2007 7/2/2009 7/2/2008 1,000,000.00 999,750.00 100.44 1,004,400.00 643 5.40% 07=15 FHLB AM 5.45% 6/28/2007 12/28/2009 12/28/2007 400,000.00 399,800.00 100.11 400,440.00 822 5.55% $44,158,598.53 $44,125,725.27 $44,154,886.33 83 5.33% (1) (2) (1) Weighted average life -For purposes of calculating weighted average life, pool investments are assumed to have a one day maturity. (2) Weighted average yield to maturity -The weighted average yield to maturity is based on adjusted book value, realized and unrealized gains/losses and investment advisory fees are not considerec City of The Colony Total Portfolio $50,000,000 ,,-:..:.,:. :</ "'}-:;i'.i..i: :::: :: >> :'> .:> .:/ :::::;:::~::::: :.: >: :~>? ;:::;;:;:::;::1 :;: :':.::-: :> .-;:. -- ::; ? ....:> i;.;}] ::>: ::::;>:>;.::: r:.f{~@;::, :: '>::'!b:.:.:;; ...... ..::.', .,/.::: ................... :ii&:.; ;;;:{::<:..;.:., /: --- :X....I :..' ;>;: ::}.:.. .:::::;;: :::: .........: -- ::::>: ':': ..... :::::::::::;;::::: >:>:: 1..:':-;'.".:>:> /.. r:;:. .':i :".: :::> :>:', .::. ;::3/ ;/i::i::::::;; :::.: .:./.::: :::: :;:,: 12/31/2006 3/31/2007 6/30/2007 9/30/2007 $45,000,000 $40,000,000 $35,000,000 $30,000,000 $25,000,000 $20,000,000 $15,000.000 $10,000,000 $5,000,000 $0 Ie Quarterend Book Value I City of The Colony Portfolio Composition Securities 26.09% . . . . . . . .................................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................................... . . . . . . . . . . , . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ......................................................................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .............................................................................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................................................................................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...................................................................................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ......................................................................................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ........................................................................................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .............................................................................................. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................................................................... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ............................................ Pools 73.91% Adjusted Book Value Comparison June 29, 2007 September 28, 2007 Ticket Security Maturity Original Face/ Adjusted Purchases/ Amort./Calls/ Original Face/ Adjusted Number Description Date Par Value Book Value Accretions Sales/Maturities Par Value Book Value TexPool 9/29/2007 $20,379,091.89 $20,379,091.89 ($9,690,000.64) $10,689,091.25 $10,689,091.25 LOGIC 9/29/2007 7,988,946.60 7,988,946.60 13,941,560.68 21,930,507.28 21,930,507.28 06=08 FHLB 7/9/2007 250,000.00 241,519.75 (241,519.75) 07=01 FHLB 9/24/2007 600,000.00 594,966.00 (594,966.00) 06=03 FHLB 10/5/2007 500,000.00 500,000.00 500,000.00 500,000.00 07=09 FHLMC 10/5/2007 544,000.00 542,595.39 544,000.00 542,595.39 07=08 FHLB 10/29/2007 560,000.00 555,363.20 560,000.00 555,363.20 07=13 FFCB 12/3/2007 550,000.00 543,807.00 550,000.00 543,807.00 07=17 FHLMC 2/20/2008 989,920.00 1,000,000.00 989,920.00 07=14 FHLMC 2/25/2008 735,000.00 729,267.00 735,000.00 729,267.00 07=04 FHLB 3/19/2008 500,000.00 500,000.00 500,000.00 500,000.00 07=10 FHLB 5/1/2008 500,000.00 499,755.65 500,000.00 499,755.65 06=32 FHLB 6/18/2008 600,000.00 600,000.00 600,000.00 600,000.00 07=03 FHLB (step) 8/15/2008 500,000.00 497,500.00 500,000.00 497,500.00 07=02 FHLB (step) 8/20/2008 150,000.00 148,918.50 150,000.00 148,918.50 07=07 FHLMC 10/9/2008 1,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 07=11 FHLB 11/24/2008 500,000.00 500,000.00 500,000.00 500,000.00 07=12 FHLB 12/4/2008 1,000,000.00 999,450.00 1,000,000.00 999,450.00 06=28 FHLB 12/5/2008 500,000.00 500,000.00 500,000.00 500,000.00 07=06 FHLB 4/16/2009 1,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 07=16 FHLB 999,750.00 1,000,000.00 999,750.00 07=15 FHLB 12/28/2009 400,000.00 399,800.00 400,000.00 399,800.00 TOTAL $38,757,038.49 $38,720,980.98 $15,931,230.68 ($10,526,486.39) $44,158,598.53 $44,125,725.27 Market Value Comparison June 29, 2007 September 28, 2007 Security Coupon! Original Face! Market Original Face! Market Description Discount Par Value Price Market Value Par Value Price Market Value TexPool $20,379,091.89 1.000 $20,379,091.89 $10,689,091.25 1.000 $10,689,091.25 LOGIC 7,988,946.60 1.000 7,988,946.60 21,930,507.28 1.000 21,930,507.28 06=08 FHLB 250,000.00 99.950 249,875.00 07=01 FHLB 600,000.00 99.410 596,460.00 06=03 FHLB 500,000.00 99.920 499,600.00 500,000.00 100.000 500,000.000 07=09 FHLMC 544,000.00 99.790 542,857.60 544,000.00 99.770 542,748.800 07=08 FHLB 560,000.00 99.350 556,360.00 560,000.00 99.880 559,328.000 07=13 FFCB 550,000.00 98.920 544,060.00 550,000.00 99.630 547,965.000 07=17 FHLMC 1,000,000.00 99.460 994,600.000 07=14 FHLMC 735,000.00 99.220 729,267.00 735,000.00 99.660 732,501.000 07=04 FHLB 500,000.00 99.880 499,400.00 500,000.00 100.050 500,250.000 07=10 FHLB 500,000.00 99.910 499,550.00 500,000.00 100.010 500,050.000 06=32 FHLB 600,000.00 99.890 599,340.00 600,000.00 100.050 600,300.000 07=03 FHLB (step) 500,000.00 99.600 498,000.00 500,000.00 100.270 501,350.000 07=02 FHLB (step) 150,000.00 99.490 149,235.00 150,000.00 99.970 149,955.000 07=07 FHLMC 1,000,000.00 99.990 999,900.00 1,000,000.00 100.000 1,000,000.000 07=11 FHLB 500,000.00 99.850 499,250.00 500,000.00 100.060 500,300.000 07=12 FHLB 1,000,000.00 99.820 998,200.00 1,000,000.00 100.060 1,000,600.000 06=28 FHLB 500,000.00 99.820 499,100.00 500,000.00 100.060 500,300.000 07=06 FHLB 1,000,000.00 99.830 998,300.00 1,000,000.00 100.020 1,000,200.000 07=15 FHLB 1,000,000.00 100.440 1,004,400.000 07=15 FHLB 400,000.00 99.760 399,040.00 400,000.00 100.110 400,440.000 TOTAL 38,757,038.49 38,725,833.09 $44,158,598.53 $44,154,886.33 Fund July August September Quarterly No. Fund Name 2007 2007 2007 Totals 100 General Fund 19,310.67 15,212.65 17,306.66 51,829.98 200 Utility Fund 10,906.93 11,849.98 8,904.90 31,661.81 201 Engineering - Inspections 752.03 737.59 750.46 2,240.08 210 U. F. Special Capital Projects 1,122.25 1,046.44 1,242.02 3,410.71 213 2004 Revenue Bonds 11,873.79 12,073.25 11,725.27 35,672.31 214 2006 U. F. Cert of Obligation 11,770.86 10,829.69 10,506.24 33,106.79 215 2007 U. F. Cert of Obligation - - 13,080.51 13,080.51 280 Impact Fees - Water/Sewer 3,302.58 3,516.28 3,255.02 10,073.88 300 Fleet Replacement 161.63 199.40 219.20 580.23 500 General Debt Service Fund 6,873.72 7,528.05 1,567.31 15,969.08 501 Tax Supported Debt Service 5,968.73 468.68 1,304.92 7,742.33 502 Revenue Bond Debt Service 9,386.75 10,300.11 10,920.34 30,607.20 520 Community Complex Debt 1,278.05 1,488.81 1,645.71 4,412.57 604 Economic Dev. Corp. 4A 12,255.11 11,023.88 13,306.90 36,585.89 605 Community Dev. Corp. 4B 2,133.08 1,641.64 2,371.70 6,146.42 700 Court Secutiry Fund 611.51 566.72 556.52 1,734.75 701 Court Technology Fund 254.10 252.65 278.85 785.60 705 Environmental Fund 8.46 66.00 250.62 325.08 710 Storm Water Utility 647.99 660.07 297.00 1,605.06 715 Hotel/Motel Taxes 1,133.28 1,121.34 1,051.67 3,306.29 720 Lake Park Funds 301.96 358.36 310.77 971.09 723 Special Events Fund 232.19 231.47 422.40 886.06 725 Community Center 33.22 17.03 138.39 188.64 730 Library Grants 18.36 42.88 67.80 129.04 752 Police Forfeited Funds 45.90 58.92 54.15 158.97 753 Police Seized Funds 1.81 0.30 0.30 2.41 800 Capital Projects Administration 1,767.41 1,608.46 1,721.11 5,096.98 815 Impact Fees - Streets 1,137.88 1,294.99 1,349.36 3,782.23 816 Impact Fees - Drainage 20.77 30.38 72.88 124.03 817 Drainage Improvements 38.38 98.09 294.26 430.73 820 Capital Projects Streets 236.50 152.22 1,049.33 1,438.05 825 Park Improvements 2,214.30 2,302.32 3,092.80 7,609.42 826 Park's Capital Projects 8,414.10 1,268.81 1,391.13 11,074.04 827 Five Star Complex 29.69 95.69 208.56 333.94 840 2002 G. F. Cert of Obligations 1,836.44 1,867.17 1,829.80 5,533.41 841 2003 Cert orObligations 697.30 710.65 696.82 2,104.77 842 2004 Cert of Obligations 3,395.71 3,460.32 2,977.22 9,833.25 843 2006 G. F. Cert of Obligations 641.76 603.10 605.98 1,850.84 844 2007 G. F. Cert of Obligations 3,864.41 4,136.05 16,669.98 24,670.44 Totals 124,679.61 108,920.44 133,494.86 367,094.91 CITY OF THE COLONY INTEREST DISTRIBUTION (With Amortization) JULY THROUGH SEPTEMBER 2007 Book Value Allocated by Fund Ticket Security Number Description TexPool LOGIC FHLB FHLMC FHLB FFCB FHLMC FHLMC FHLB FHLB FHLB FHLB (step) FHLB (step) FHLMC FHLB FHLB FHLB FHLB FHLB FHLB 06=03 07=09 07=08 07=13 07=17 07=14 07=04 07=10 06=32 07=03 07=02 07=07 07=11 07=12 06=28 07=06 07=16 07=15 System Fund $10,689,091.25 500,000.00 542,595.39 555,363.20 543,807.00 989,920.00 729,267.00 500,000.00 499,755.65 600,000.00 497,500.00 148,918.50 1,000,000.00 500,000.00 999,450.00 500,000.00 1,000,000.00 999,750.00 399,800.00 $22,195,217.99 020 Debt Service Reserve Fund 2,060,203.00 September 28, 2007 001 002 003 004 005 006 010 2002 2003 2004 2006 2006 2007 2004 C/O C/O C/O C/O EDC C/O C/O Revenue 414,873.78 157,991.85 120,156.75 1,751,730.61 0.00 14,775,723.71 2,649,827.58 $2,060,203.00 $414,873.78 $157,991.85 $120,156.75 $1,751,730.61 $0.00 $14,775,723.71 $2,649,827.58 Market Value Allocated by Fund Ticket Security Number Description TexPool LOGIC FHLB FHLMC FHLB FFCB FHLMC FHLMC FHLB FHLB FHLB FHLB (step) FHLB (step) FHLMC FHLB FHLB FHLB FHLB FHLB FHLB 06=03 07=09 07=08 07=13 07=17 07=14 07=04 07=10 06=32 07=03 07=02 07=07 07=11 07=12 06=28 07=06 07=16 07=15 September 28, 2007 System Debt Service 2002 2003 2004 2006 2006 2007 2004 Fund Reserve Fund C/O C/O C/O C/O EDC C/O C/O Revenue $10,689,091.25 2,060,203.00 414,873.78 157,991.85 120,156.75 1,751,730.61 0.00 14,775,723.71 2,649,827.58 500,000.00 542,748.80 559,328.00 547,965.00 994,600.00 732,501.00 500,250.00 500,050.00 600,300.00 501,350.00 149,955.00 1,000,000.00 500,300.00 1,000,600.00 500,300.00 1,000,200.00 1,004,400.00 400,440.00 $22,224,379.05 $2,060,203.00 $414,873.78 $157,991.85 $120,156.75 $1,751,730.61 $0.00 $14,775,723.71 $2,649,827.58 Book Value Allocated by Fund June 29, 2007 Ticket Security System Debt Service 2002 2003 2004 2006 2006 2004 Number Description Fund Reserve Fund C/O C/O C/O C/O EDC C/O Revenue T exPool $20,379,091.89 LOGIC 2,032,756.97 410,585.83 155,887.08 759,139.03 1,975,912.10 0.00 2,654,665.59 06=08 FHLB 241,519.75 07=01 FHLB 594,966.00 06=03 FHLB 500,000.00 07=09 FHLMC 542,595.39 07=08 FHLB 555,363.20 07=13 FFCB 543,807.00 07=14 FHLMC 729,267.00 07=04 FHLB 500,000.00 07=10 FHLB 499,755.65 06=32 FHLB 600,000.00 07=03 FHLB (step) 497,500.00 07=02 FHLB (step) 148,918.50 07=07 FHLMC 1,000,000.00 07=11 FHLB 500,000.00 07=12 FHLB 999,450.00 06=28 FHLB 500,000.00 07=06 FHLB 1,000,000.00 07=15 FHLB 399,800.00 $30,732,034.38 $2,032,756.97 $410,585.83 $155,887.08 $759,139.03 $1,975,912.10 $0.00 $2,654,665.59 Market Value Allocated by Fund June 29, 2007 Ticket Security System Debt Service 2002 2003 2004 2006 2006 2004 Number Description Fund Reserve Fund C/O C/O C/O C/O EDC C/O Revenue T exPool $20,379,091.89 LOGIC 2,032,756.97 410,585.83 155,887.08 759,139.03 1,975,912.10 0.00 2,654,665.59 06=08 FHLB 249,875.00 07=01 FHLB 596,460.00 06=03 FHLB 499,600.00 07=09 FHLMC 542,857.60 07=08 FHLB 556,360.00 07=13 FFCB 544,060.00 07=14 FHLMC 729,267.00 07=04 FHLB 499,400.00 07=10 FHLB 499,550.00 06=32 FHLB 599,340.00 07=03 FHLB (step) 498,000.00 07=02 FHLB (step) 149,235.00 07=07 FHLMC 999,900.00 07=11 FHLB 499,250.00 07=12 FHLB 998,200.00 06=28 FHLB 499,100.00 07=06 FHLB 998,300.00 07=15 FHLB 399,040.00 $30,736,886.49 $2,032,756.97 $410,585.83 $155,887.08 $759,139.03 $1,975,912.10 $0.00 $2,654,665.59 Disclaimer These reports were compiled using information provided by the City. No procedures were performed to test the accuracy or completeness of this information. The market values included in these reports were provided by the City. Yield calculations are not determined using standard performance formulas, are not representative of total return yields, and do not account for investment advisor fees.