HomeMy WebLinkAboutAgenda Packet - March 4, 2013 - CC APPROVED
COUNCIL MEETING
Date,
31343/3 4 , c -
AZUSIVI
CONSENT ITEM
D-4
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: MARCENE HAMILTON, CITY TREASURER
DATE: MARCH 4, 2013
SUBJECT: CITY TREASURER'S STATEMENT OF CASH AND INVESTMENT
BALANCES FOR THE MONTH OF JANUARY 2013
RECOMMENDATION:
It is recommended that the Council Members receive, review, and file the City Treasurer's
Report for the City of Azusa for the month of January 2013.
BACKGROUND:
Transmitted herewith is the City Treasurer's Statement of Cash Balances for the City of Azusa
for the month of January 2013. City investments are made in accordance with the City's
Investment Policy adopted and approved with Resolution No. 05 — C16 dated, February 4, 2013,
and Government Code Section 53600 et seq.
FISCAL IMPACT:
The balances of cash, investments, and projected revenues for the next six months are expected
to be sufficient to meet cash disbursement requirements of the City for at least the next six
months.
The change in total cash in bank and investments from December 31, 2012 to January 31, 2013 is
a net increase of$3,138,510.01.
CITY OF AZUSA TREASURER'S REPORT
Prepared by: Marcene Hamilton, Treasurer
Treasury Checking Accounts and Certificates of Deposit January 31,2013
Held in Wells Fargo Bank
Face Maturity Interest or Account Number Balance
Coupon Description or
Amount Date Rate or CUSIP
Market Value
Checking Accounts
General Checking Account XXX-XXX1244 47,957.00
Stagecoach Sweep Account DDA XXX-XXX1244 4,018,803.82
Worker's Compensation Checking XXXX-XX3279 0.00
Flexible Reimbursement XXXX-XX5036 0.00
Payroll Checking(ZBA account) XXXX-XX1393 0.00
Police Petty Cash Fund XXX-XXX0334 189.12
Police Detective Petty Cash Fund XXX-XXX2231 4,920.00
DACA Account-ISO Collateral XXXX-XX2015 500,000.00
Section 108
0.970% Choice IV-Public Fund Account XXX-XXX2239 30,841.34
Covington Endowment
WFB Advantage Heritage Money Market Fund(rated AAAm/Aaa) WFB XXXX7554 19,817.14
100,000 05/12/14 1.400% Certificate of Deposit Discover Bank DE Matures 5/12/14 CUSIP 254670D66 100,853.80
TOTALS WELLS FARGO BANK ACCOUNTS 4,723,382.22
Page 1
CITY OF AZUSA TREASURER'S REPORT
Prepared by: Marcene Hamilton,Treasurer
January 31,2013
Market Price Interest Received
Coupon Maturity Settlement Market
Broker Face Amount DescriptionRate Date Acct/Cusip No. Date Principal** (Changes Value*** Fiscal Year to
Monthly) Date*
City of Azusa Investments - Certificates of Deposit-FDIC Insured
CERTIFICATES OF DEPOSIT SOLD OR MATURED DURING FISCAL YEAR 4,715.54
Wachovia Sec 245,000.00 Everbank Jacksonville FL 0.500% 11/29/12 29976DQC7 11/29/12 245,000.00 99.977 244,943.65
Wachovia Sec 200,000.00 Beal Bank Nevada Las Vegas 0.600% 06/05/13 07370S6T7 06/06/12 200,000.00 100.064 200,128.00
Wachovia Sec 100,000.00 Metlife Bank,NA 1.300% 10/28/13 591557FH1 10/21/10 100,000.00 100.741 100,741.00 651.78
Wachovia Sec 245,000.00 Mizuho Corp Bank USA 0.500% 12/12/13 60688TGZ6 12/12/12 245,000.00 100.000 245,000.00
Wachovia Sec 200,000.00 Bank of China New York 0.600% 01/06/14 06425H4T0 07/05/12 200,000.00 100.050 200,100.00 604.93
Wachovia Sec 250,000.00 American Express Centurion 1.250% 06/09/14 02587DAX6 06/06/11 250,000.00 100.958 252,395.00 1,566.78
Wachovia Sec 200,000.00 Sovereign Bank FSB 0.700% 06/20/14 84603MZ66 06/20/12 200,000.00 100.282 200,564.00 701.92
Wachovia Sec 100,000.00 Ally Bank 1.100% 09/08/14 02005QTS2 09/07/11 100,000.00 101.025 101,025.00 554.52
Wachovia Sec 200,000.00 BMW Bank of North America 1.350% 09/23/14 05568PR90 09/23/11 200,000.00 101.019 202,038.00 1,361.10
Wachovia Sec 200,000.00 CIT Bank SLC 1.450% 11/14/14 17284AH43 11/14/11 200,000.00 101.392 202,784.00 1,461.92
Wachovia Sec 200,000.00 Huntin=ton National Bank 0.750% 12/08/14 446438QL0 06/08/12 200,000.00 100.420 200,840.00 752.05
Wachovia Sec 200,000.00 Compass Bank Birmingham AL 1.000% 12/29/14 20451PACO 06/29/12 200,000.00 100.410 200,820.00 1,002.74
Wachovia Sec 100,000.00 Ally Bank UT 95.000% 02/08/15 02005QYS6 02/08/12 100,000.00 100.905 100,905.00 473.70
Wachovia Sec 200,000.00 State Bank of India NY 1.250% 06/22/15 856284F74 06/22/12 200,000.00 100.547 201,094.00 1,253.42
Wachovia Sec 200,000.00 Safra National Bank 0.800% 06/29/15 786580T83 07/28/12 200,000.00 100.446 200,892.00 661.92
Wachovia Sec 200,000.00 Bank Hapoalim NY 1.000/ 07/24/15 06251AYD6 07/24/12 200,000.00 100.407 200,814.00 1,008.22
Wachovia Sec 200,000.00 Sallie Mae Bank Murray UT 1.100% 08/10/15 795450NT8 08/08/12 200,000.00 100.386 200,772.00
Wachovia Sec 200,000.00 Barclays Bank of Delaware 1.600% 01/11/16 06740KFS1 01/11/12 200,000.00 102.051 204,102.00 3,208.77
Wachovia Sec 200,000.00 Merrick Bank South Jordan UT 0.900% 01/25/16 59012YU96 07/25/12 200,000.00 100.599 201,198.00 907.42
Wachovia Sec 200,000.00 Goldman Sachs Group,Inc. 1.200% 03/07/16 38143ALTO 03/07/12 200,000.00 101.034 202,068.00 1,209.86
Wachovia Sec 245,000.00 Webster Bank NA 1.000% 12/12/17 94768NJD7 12/12/12 245,000.00 100.195 245,477.75
TOTALS 4,085,000.00 4,085,000.00 4,108,701.40 22,096.59
Page 2
CITY OF AZUSA TREASURER'S REPORT
Prepared by: Marcene Hamilton,Treasurer
January 31,2013
Market Price Interest Received
Coupon Maturity Settlement Market
Broker Face Amount Description Acct/Cusip No. Principal** (Changes Fiscal Year to
Rate Date Date Monthly) Value*** Date*
City of Azusa Investments - AAA Rated Federal Agency Bonds
BONDS CALLED OR MATURED DURING FISCAL YEAR 37,708.33
Wachovia Sec 1,000,000 FHLB 1.250 07/29/14 1.250% 07/29/14 313370YK8 09/17/10 1,000,000.00 101.478 1,014,780.00 12,500.00
Gilford Sec 1,000,000 FHLB 2.185 04/15/15 2.185% 04/15/15 313373DW9 04/15/11 1,000,000.00 100.377 1,003,770.00 10,925.00
Gilford Sec 1,000,000 FFCB 1.04004/11/16 1.040% 04/11/16 3133EALA4 04/11/12 1,000,000.00 100.168 1,001,680.00 5,200.00
Gilford Sec 1,000,000 FFCB 0.910 05/23/16 0.910% 05/23/16 3133EARK6 05/23/12 1,000,000.00 100.156 1,001,560.00 4,550.00
Wachovia Sec 1,000,000 FHLB 2.100 06/07/16 2.100% 06/07/16 3133742R0 06/07/11 1,000,000.00 100.674 1,006,740.00 10,500.00
Gilford Sec 1,000,000 FFCB 0.875 06/14/16 0.875% 06/14/16 3133EAUE6 06/14/12 1,000,000.00 100.219 1,002,190.00 4,375.00
Gilford Sec 1,000,000 FFCB 0.710 07/19/16 0.710% 07/19/16 3133EAYQ5 07/23/12 1,000,000.00 100.184 1,001,840.00 3,471.11
Gilford Sec 1,000,000 FFCB 1.260 03/01/17 1.260% 03/01/17 3133EAFQ6 03/01/12 1,000,000.00 100.105 1,001,050.00 6,300.00
Gilford Sec 1,000,000 FHLB 1.240 05/16/17 1.240% 05/16/17 313379681 05/16/12 1,000,000.00 100.238 1,002,380.00 6,200.00
Gilford Sec 1,500,000 FHLB 0.800 05/23/17 0.800% 05/23/17 313381AN5 11/23/12 1,500,000.00 99.689 1,495,335.00
Gilford Sec 1,000,000 FFCB 0.770 6/15/17 0.770% 06/15/17 3133EC5L4 12/05/12 999,300.00 99.478 994,780.00
Higgins 1,000,000 FFCB 1.100 06/20/17 1.100% 06/20/17 3133EAVA3 06/20/12 1,000,000.00 100.298 1,002,980.00 5,500.00
Gilford Sec 1,000,000 FHLB.085 07/24/17 0.850% 07/24/17 313380WR4 10/24/12 1,000,000.00 99.581 995,810.00 2,125.00
Gilford Sec 1,000,000 FFCB 0.980 09/18/17 0.980% 09/18/17 3133EAX29 09/20/12 1,000,000.00 99.719 997,190.00 (54.44)
Gilford Sec 1,000,000 FHLB 0.980 11/15/17 0.980% 11/15/17 3133817D1 11/15/12 1,000,000.00 99.859 998,590.00
Gilford Sec 1,000,000 FFCB 0.900 12/26/17 0.900% 12/26/17 3133ECB45 12/26/12 999,500.00 99.355 993,550.00
WFB 1,000,000 FHLB 1.000 01/30/18 1.000% 01/03/18 313381TW5 01/30/13 1,000,000.00 99.618 996,180.00
TOTALS 17,500,000 17,498,800.00 17,510,405.00 109,300.00
WFB-CITY THIRD PARTY CUSTODIAL TRUST ACCT 0.070% N/A N/A N/A 3,200,555.75 100.000 3,200,555.75 1,038.20
LAIF-CITY LOCAL AGENCY INVESTMENT FUND 0.300% N/A N/A N/A 17,775,655.77 100.000 17,775,655.771 54,221.03
Page 3
CITY OF AZUSA TREASURER'S REPORT
Prepared by: Marcene Hamilton,Treasurer
January 31,2013
Market Price " Interest Received
Coupon Maturity SettlementMarket
Broker Face Amount Description Acct/Cusip No. Principal** (Changes Fiscal Year to
Rate Date Date Monthly) Value*** Date*
Light&Water Fund Investments - Certificates of Deposit-FDIC Insured
CERTIFICATES OF DEPOSIT SOLD OR MATURED DURING FISCAL YEAR (6,037.12)
Wachovia Sec 245,000.00 Bank Baroda NY 0.550% 10/16/13 060624PQ0 10/16/12 245,000.00 100.045 245,110.25
Wachovia Sec 40,000.00 Bank Hapoalim NY 1.000% 07/24/15 06251AYD6 07/24/12 40,000.00 100.407 40,162.80 328.76
Wachovia Sec 40,000.00 Bank of China NY 0.850% 02/03/14 06425HYW0 02/01/12 40,000.00 100.461 40,184.40 524.09
Wachovia Sec 40,000.00 Beal Bank Nevada Las Vegas 0.600% 06/05/13 07370S6T7 06/06/12 40,000.00 100.064 40,025.60 205.15
Wachovia Sec 40,000.00 BMW Bank of NA 1.350% 04/27/16 05568PW45 04/27/12 40,000.00 100.829 40,331.60 963.12
Wachovia Sec 40,000.00 Compass Bank Birmingham AL 0.900% 06/30/14 20451PAB2 06/29/12 40,000.00 100.272 40,108.80 393.53
Wachovia Sec 200,000.00 Discover Bank Greenwood DE 1.050% 05/11/15 254671ARI 05/09/12 200,000.00 100.510 201,020.00 1,058.63
Wachovia Sec 240,000.00 Enerbank USA 5.000% 09/14/14 29266NUY1 06/14/12 240,000.00 100.223 240,535.20 368.22
Wachovia Sec 240,000.00 First National Bank of Omaha 0.500% 01/10/14 332135EZ1 10/10/12 240,000.00 99.927 239,824.80
Wachovia Sec 200,000.00 GE Capital Financial Inc. 1.250% 05/18/16 36160XD87 05/18/12 200,000.00 100.132 200,264.00 1,260.27
Wachovia Sec 235,000.00 GE Capital Retail Bank 1.050% 04/27/15 36157PCW7 04/27/12 235,000.00 100.174 235,408.90 1,237.13
Wachovia Sec 40,000.00 Goldman Sachs Group,Inc. 0.850% 02/03/14 38143AJB2 02/01/12 40,000.00 100.471 40,188.40 925.92
Wachovia Sec 40,000.00 Huntington National Bank 0.750% 12/08/14 446438QL0 06/08/12 40,000.00 100.420 40,168.00 396.99
Wachovia Sec 40,000.00 Safra National Bank 0.800% 06/29/15 786580T83 07/28/12 40,000.00 100.446 40,178.40 213.05
Wachovia Sec 40,000.00 Sovereign Bank FSB 0.700% 06/20/14 84603MZ66 06/20/12 40,000.00 100.282 40,112.80 333.70
Wachovia Sec 40,000.00 State Bank of India NY 1.250% 06/22/15 856284F74 06/22/12 40,000.00 100.547 40,218.80 584.93
TOTALS 1,760,000.00 1,760,000.00 1,763,842.75 2,756.37
Page 4
CITY OF AZUSA TREASURER'S REPORT
Prepared by: Marcene Hamilton,Treasurer
January 31,2013
Market Price Interest Received
Coupon Maturity, Settlement Market
Broker Face Amount Description Acct/Cusip No. Principal** (Changes : Fiscal Year to
Rate Date Date Monthly) Value*** Date*
Light&Water Fund Investments - AAA Rated Federal Agency Bonds
BONDS CALLED OR MATURED DURING FISCAL YEAR 28,788.16,
Gilford Sec 1,000,000.00 FFCB 1.000 03/08/16 1.000% 03/08/16 3133EAGG7 03/08/12 1,000,000.00 100.089 1,000,890.00 5,000.00
Gilford Sec 1,000,000.00 FHLB 0.720 08/08/16 0.720% 08/08/16 3133805K9 08/08/12 999,500.00 100.007 1,000,070.00
WFB 1,000,000.00 FFCB 0.690 09/26/16 0.690% 09/26/16 3133EAZ76 09/26/12 1,000,000.00 100.186 1,001,860.00
WFB 1,000,000.00 FFCB 0.620 10/24/16 0.620% 10/24/16 3133EA5V6 10/24/12 1,000,000.00 99.971 999,710.00
Higgins Capital 1,000,000.00 FHLB 0.700 11/21/16 0.700% 11/21/16 313381AD7 11/21/12 1,000,000.00 99.972 999,720.00
Gilford Sec 1,000,000.00 FFCB 1.26003/01/17 1.260% 03/01/17 3133EAFQ6 03/01/12 1,000,000.00 100.105 1,001,050.00 6,300.00
Gilford Sec 1,000,000.00 FFCB 0.820 07/11/17 0.820% 07/11/17 3133EA4H8 10/12/12 999,000.00 99.540 995,400.00 2,027.22
Gilford Sec 1,000,000.00 FFCB 0.980 09/18/17 0.980% 09/18/17 3133EAX29 09/18/12 1,000,000.00 99.719 997,190.00
TOTALS 8,000,000.00 7,998,500.00 7,995,890.00 42,115.38
I WFB-L&W THIRD PARTY CUSTODIAL TRUST ACCT 0.060% N/A N/A N/A 3,236.00 100.000 3,236.001 159.81
Market Price Interest Received
CITY OF AZUSA and LIGHT&WATER RATE STABLIZATION Principal** (Changes Mark** Fiscal Year to
Monthly) Value Date*
TOTAL INVESTMENTS IN FEDERAL AGENCIES,CD's,WFB INSTITUTIONAL TRUSTS,and LAIF 52,321,747.52 52,358,286.67 231,687.38
*The Interest reflects earnings received from July 1,2012.
**The"Principal"column reflects the balance on the last day of the month or the"historical cost"spent to purchase a security.
***The"Market Value" is the current price at which a security can be traded or sold.
Page 5
APPROVED
COUNCIL MEETING
Date, 3
•
AZUSA
•
CONSENT ITEM
• D-5
TO: HONORABLE MAYOR AND CITY COUNCIL MEMBERS
FROM: MARCENE HAMILTON, CITY TREASURER
VIA: JAMES W. MAKSHANOFF, CITY MANAGER
DATE: MARCH 4, 2013
SUBJECT: CITY OF AZUSA AUTHORIZING INVESTMENT OF MONIES IN THE
LOCAL AGENCY INVESTMENT FUND
RECOMMENDATION
It is recommended that the City Council approve a Resolution of the City of Azusa authorizing
investment of Monies in the Local Agency Investment Fund by the City Treasurer, City Manager
and Director of Finance.
BACKGROUND
The City has invested funds with the State of California's Local Agency Investment Fund(LAIF)for
several years. However, in Resolution #05-C28, dated March 28, 2005, only the position of City
Treasurer is authorized to make investments. In the event the City Treasurer is unavailable,there is
no one in the City who is authorized to make transactions with LAIF should aneed arise. As a
result,a new resolution is presented for your approval which will authorize deposits and withdrawals
by the City Treasurer, City Manager and Director of Finance, or their successors in office.
FISCAL IMPACT
This is an administrative action which allows additional City officers to deposit and withdraw funds
from LAIF. There is no fiscal impact.
Attachment: Resolution—"City of Azusa Authorizing Investment of Monies in the Local Agency Investment Fund"
RESOLUTION NO. 13-C11
A RESOLUTION OF THE CITY OF AZUSA AUTHORIZING
INVESTMENT OF MONIES IN THE LOCAL AGENCY
INVESTMENT FUND
WHEREAS, pursuant to Chapter 730 of the statues of 1976, Section 16429.1 was added
to the California Government Code to create a Local Agency Investment Fund in the State
Treasury for the deposit of money of a local agency for purposes investment by the State
Treasurer; and
WHEREAS, the City Council of the City of Azusa does hereby find that the deposit and
withdrawal of money in the Local Agency Investment Fund in accordance with the provisions of
Section 16429.1 of the Government Code for the purpose of investment as stated therein, is in
the best interests of the City of Azusa.
NOW THEREFORE BE IT RESOLVED, that the Council Members of the City of
Azusa do hereby authorize the deposit and withdrawal of the City of Azusa monies in the Local
Agency Investment Fund in the State Treasury in accordance with the provisions of Section
16429.1 of the Government Code for the purpose of investment as stated therein, and verification
by the State Treasurer's Office of all banking information provided in that regard.
BE IT FURTHER RESOLVED, that the following City officers or their successors in
office shall be authorized to order the deposit or withdrawal of monies in the Local Agency
Investment Fund:
MARCENE HAMILTON JAMES W. MAKSHANOFF SUSAN PARAGAS
Name Name Name
CITY TREASURER CITY MANAGER DIR. OF FINANCE
Title Title Title
Signature / Si:.•.ture ✓ Signature
APPROVED AND ADOPTED this 4th day of March 2013.
7, ie. irk
Jos h R. Rocha, Mayor
I HEREBY certify that the foregoing resolution was duly adopted by the City Council of
the City of Azusa at a regular meeting thereof held on the 4th day of March, 2013, by the
following vote of the Council:
AYES: COUNCILMEMBERS: GONZALES, CARRILLO, MACIAS, ROCHA
NOES: COUNCILMEMBERS: NONE
ABSENT: COUNCILMEMBERS: HANKS
Vera Mendoza, City Clerk i
H APPROVED
COUNCIL MEETING
• Date,
3/(1� Lo 3
l _ 4
44.'"fr4A r_
*..„
v
, ZUS
CONSENT CALENDAR
• D-6
TO: HONORABLE MAYOR AND MEMBERS OF THE CITY COUNCIL
FROM: TITO HAES, ASSISTANT CITY MANAGER/PUBLIC WORKS DIRECTOR
VIA: JAMES MAKSHANOFF, CITY MANAGER
DATE: MARCH 4, 2013
SUBJECT: LEGISLATIVE UPDATE
RECOMMENDATION
It is recommended that the City Council approve the position recommended on the legislation
listed in this report.
BACKGROUND
During the federal and state legislative sessions, bills are considered that may impact Azusa or
cities in general. In order to keep the City Council informed of these bills, staff has developed
the attached legislative update to track these important bills, including recommended positions.
Following Council approval, staff will draft letters including the recommended positions and
send them to Sacramento. As bills are introduced, amended or there is a change in position from
the League of California Cities, staff will provide the Council with updated position
recommendations. Bills for the 2013-2014 legislative session were first introduced on December
3, 2012, of the 891 bills being reviewed, the League has only adopted a position on 1 bill at this
early stage of the legislative process.
HOT TOPICS
Redevelopment Signage - The League and the California Sign Association are co-sponsoring a
bill, SB 684 (Hill), which will address an unintended consequence of the elimination of
redevelopment related to signage in former redevelopment areas. Under current law,the Outdoor
Advertising Act regulates the types and the locations of outdoor advertising displays but
provides an exemption for signs within redevelopment areas so that they could be considered on-
premise advertising. The bill is intended to give local agencies the flexibility to extend the
authority of existing signs in former redevelopment areas. The gateway readerhoard sign located
at Azusa Ave. and the 1-210 freeway has a Redevelopment on-premise permit that is scheduled
to expire in 2020.
Local Litigation Success Stories ' There are currently 30 active lawsuits challenging the
Department of Finance's (DOF) decisions to deny enforceable obligations from the successor
agencies' Recognized Obligation Payments Schedule (ROPS). The following are some local
success stories:
City of Pasadena - This case arises out of a 1986 reimbursement agreement between
Pasadena and its redevelopment agency. The agreement was intended to reimburse the
city for various costs it incurred in connection with various public improvements.
Pasadena listed the agreement, which provides for payments to be made through 2014, as
an enforceable obligation on its ROPS. DOF asserted that this reimbursement agreement
was not an enforceable obligation. The court concluded that the agreement easily fell
within the broad definition of "enforceable obligation" in the statute under several
subsections.
City of Duarte - Duarte had committed $1.2 million in 20 percent housing set-aside
funds for a 43-unit affordable senior housing project. The project also was the subject of
a grant application for $7.7 million in federal Housing and Urban Development (HUD)
funds. Duarte had an option agreement with an affordable housing developer that was
conditioned upon the award of the HUD grant. Duarte listed the $1.2 million on its ROPS
as an enforceable obligation, which DOF rejected alleging that the developer had not
timely exercised the right to extend the option agreement after receiving notice of the
HUD grant award. After reviewing the city's pleadings, the Attorney General agreed to
have DOF drop its objection to the $1.2 million item.
FISCAL IMPACT
There is no fiscal impact associated with approving the legislative update.
Attachment: Legislative Update