1994 08 31 IAB Special MeetingTa 0 4)
4hf 4 4a 0914ta
78-495 CALLE TAMPICO — LA QUINTA, CALIFORNIA 92253 - (619) 777-7000
FAX (619) 777-7101
= NVE S THE NT ADV = S ORY BOARD
AGE NDA
Study Session Room
78-495 Calle Tampico
La Quinta, CA 92253
SPECIAL MEETING
August 31, 1994
I CALL TO ORDER
a. Pledge of Allegiance
b. Roll Call
II PUBLIC COMMENT
(This is the time set aside for public comment on any matter
not scheduled on the agenda.)
III CONSENT CALENDAR
IV BUSINESS SESSION
A. Continued Consideration of Banking Services Request for
Proposal.
B. Investment Policy Compliance Review.
V BOARD MEMBER COMMENTS
VI ADJOURNMENT
W-
MAILING ADDRESS - P.O. BOX 1504 - LA QUINTA, CALIFORNIA 92253 1
C I TY O F LA QU I NTA
Banking and Custodian Services Request for Proposal
ISSUE DATE: September 20, 1994
PROPOSALS DUE: October 14, 1994
TABLE OF CONTENTS
Banking Services Request for Proposal Calendar
Section 1. Introduction
Section 2. Bidding Instructions
Section 3. Bank Credit Evaluation
Section 4. Scope of Banking Services
I. Contract Terms
II. Current City Operations
III. Required Banking services
IV. Account Maintenance Services
Section 5. Optional Services
Section 6. Bidding Forms
Page No.
4
5
7
9
9
10
11
14
17
25
CITY OF LA QUINTA
BANKING SERVICES REQUEST FOR PROPOSAL CALENDAR
Date Event Description
7/20 - 8/10 Finance Director prepares a banking services RFP
document with the Investment Advisory Board.
9/13 Staff Report to Council requesting authorization
issuance of RFP submitted to City Clerk's Office.
9/20 Council Approves release of Banking Services RFP
Document.
9/21 RFP documents issued by the Finance Department to
interested banking institutions.
10/14 5:00 p.m. Deadline for submission of proposals by
financial institutions to the Finance receipts
counter.
10/14 - 10/26 Evaluation of submitted proposals performed by
Finance Department.
10/28 A review of the banking services RFP with the City
Manager including selection of a banking
institution.
11/08 Awarding of a banking institution contract by City
Council.
11/09 Banking Supplies ordered by Financial staff.
11/10 Formal agreement entered into with the selected
institution.
12/01 Banking Services inaugural date.
3
CITY OF LA QUINTA BANKING SERVICES
REQUEST FOR PROPOSAL
SECTION 1. INTRODUCTION
A. General Requirements
The City of La Quinta (hereinafter referred to as City)
requests proposals and competitive quotations to purchase
banking services as specified herein. Written proposals using
the official forms provided herein will be received until 5:00
p.m. on October 14, 1994 at the Finance Cashier's counter,
City of La Quinta, 78-495 Calle Tampico, La Quinta, California
92253.
Responses to the Request for Proposal (RFP) must conform to
the format provided in Section 6 of this document. Financial
institutions wishing to provide alternative proposals are
encouraged to do so. Alternative proposals should demonstrate
the financial institutions' unique, cost effective, or
innovative approach to not only today' s banking needs but also
to the rapidly changing demands of the banking industry and
its clients.
City will not reimburse the respondents to this RFP for any
costs involved in the preparation and submission of proposals
or in the preparation for and attendance at interviews.
Furthermore, this RFP does not obligate City to accept or
contract for any expressed or implied services. The City
reserves the right to request any organization submitting a
proposal to clarify its proposal or to supply additional
material deemed necessary to assist in the selection of a
bank, and to modify or alter any or all of the requirements
herein. In the event that the proposal guidelines change
materially, all respondents who submit a proposal will be
given an opportunity to modify their proposal in the specific
areas that are impacted.
B. Mandatory Conditions During the Contract Period
1. Non -Discrimination. The bidder must agree that it will
not engage in any discrimination on the basis of sex,
race, color, creed, national origin, age (except minimum
age and retirement provisions), marital status, sexual
orientation, or the presence of any sensory, mental, or
physical handicap, in its dealings with the City,
employees or tenants, or in its dealings with bidder's
employees. Any violations of this provision shall be
grounds for cancellation, termination, or suspension in
whole or in part of the agreement with The City. The
4
bidder shall at all times in the bidding and contracting
process comply with all applicable city, county, state,
and federal anti -discrimination laws, rules, regulations,
and requirements.
The City affirms, and will continue to comply with,
Executive Order 11246 as amended by Executive Order
11375; Section III of the 1968 Housing Act; and Title VI
of the 1964 Civil Rights Act. It is City policy to
maintain a positive program of equal employment
opportunity for all employees and applicants regardless
of race, sex, creed, color, national origin or handicap.
By signature on the bid document, the proposing banking
institution affirms the same.
2. Automated Clearing House Capabilities. The bidder must
have and maintain Automated Clearing House (ACH)
originating bank capabilities. The bidder must conform
with National Automated clearing House Association
(NACHA) and Uniform Commercial Code Article 4A (UCC4A)
rules.
3. Bank Charter. The bidder must be a federal or State or
California chartered bank with branch banking facilities
located within the Coachella Valley. If the headquarters
of the proposer is not located within the city limits, a
branch bank(s) of the proposer located within the
Coachella Valley must be able to offer the full range of
banking services required by this RFP. The proposer must
also be a member of the Federal Reserve System.
SECTION 2. BIDDING INSTRUCTIONS
1. Intent
The intent of this Request for Proposal is to select one
banking institution to provide basic banking services.
However, the City may also elect to award an agreement(s) to
the winning proposer of any or all optional services.
2. Proposal Form
A proposer shall use the attached Proposal Form, Exhibit A,
and Optional Services Proposal Form, Exhibit B, or copies
thereof in submitting a proposal. It is required that the
proposal be completed in its entirety.
5
3. No Proposal
If a service requirement cannot be me
term "No Proposal" should be entered
that specific requirement. In the
remark, the proposer may offer an
service.
4. Multiple Proposals
t by a proposer, then the
on the Proposal Form for
case of a "No Proposal"
alternative equivalent
A proposer may submit multiple and alternative equivalent
proposals for any and all of the optional banking services.
5. Sealed Proposals
A Proposal must be submitted in a sealed envelope or package
bearing the title "City of La Quinta Banking Services" along
with the proposer's name and address. The proposer shall
return two (2) copies of completed Proposal Forms and other
pertinent information (call reports, annual financial reports,
availability schedules, etc.) to La Quinta City Hall,
Attention: Richard Parzonko, Finance Director, 78-495 Calle
Tampico, La Quinta, California 92253, no later than 5:00 p.m.
Friday, October 14, 1994 to the Finance Cashier's counter. It
is the responsibility of the proposer to ensure that the
proposal arrives on time at the right place. Any proposals
received after the above time will be disqualified.
6. Public Information
All submitted proposals and information included therein or
attached there to shall become public record upon their
delivery to the Finance Director's office.
7. Responses to Proposer Questions
A proposer may submit written questions in order to clarify
any matters relating to this RFP. The proposer's question and
the City's answer will become public records and will be
shared with all proposers to whom the RFP has been sent.
8. Contact Office
The Finance Director, Richard Parzonko, shall be the only
contact office in regards to this RFP.
9. Right to Reject Proposals and Waive Information
The City reserves the right to reject any or all proposals, to
waive any non -material irregularities or information in any
RFP, and to accept or reject any item or combination of items.
6
10. Execution of Agreement
If a banking institution does not execute an agreement within
ten (10) days after being notified of selection, the City may
give notice to the bank of the City's intent to select the
next most qualified proposing bank or call for new proposals,
whichever the City deems most appropriate.
11. Incorporation of RFP and Proposal in Agreement.
This RFP and the bank's response, including all promises,
warranties, commitments and representations made in the
successful proposal shall be binding and shall become
contractual obligations, and will be incorporated by reference
in the Authority's agreement with the bank. ACH and wire
transfer agreements will be signed in conjunction with the
execution of the banking services contract.
12. Amendments to Agreement. Parties hereto reserve the
right to make amendments or modifications to the agreement by
written amendment signed by both parties. No amendment shall
be effective unless signed by both a bank representative
authorized to bind and corporation.
13. Electronic Data Interchange Option. The successful bank
must have Electronic Data Interchange (EDI) capabilities as
they are developed. The City expects technical support for
EDI at no additional cost to the City.
SECTION 3. BANK CREDIT EVALUATION
1. Report of Capital and Surplus
A proposer shall have on file with the Finance Director the
affidavit of one of its officers of the amount of its capital
stock and surplus. The bank selected to perform banking
services shall maintain a capital structure equal to or
greater than the amount that the City has on deposit with them
at any one time during the term of the agreement. This
calculation shall include both demand deposits and term
deposits such as certificates of deposit and savings accounts.
2. Required Financial Information
Each proposer shall submit with their proposal copies of their
quarterly call reports for the past two (2) years and their
annual financial reports for the past three (3) years. If the
proposing bank is owned by a holding company, submit financial
statements for both proposing bank and holding company bank.
Disclosure of any regulatory agreement (Memorandum of
Understanding, formal agrement or cease and desist order) an
7
institution is under is also required. These reports will be
used by the City to determine the financial strength of the
proposer. The successful proposer shall, during the duration
of this contract, continue to furnish to the City updated
issues of each report in a timely manner.
3. Criteria for Selection
Criteria for evaluation of proposals will be 1) adequately and
completeness of the proposal with regard to the specifications
of this RFP; 2) least total cost to the City; 3) financial
strength and capacity of the banking institutions; 4)
availability of services (both basic and optional) within this
RFP; 5) services proposed beyond RFP requirements. Judgement
of criteria listed is not necessarily in the order presented.
4. Responsiveness to Criteria
Responsiveness to the criteria will be measured as follows:
A check will be made to ensure that the submitted proposal
forms are complete and that the required financial data has
been attached. Financial strength and capacity evaluation
will be based upon the information contained in the annual
financial reports and call reports as required. Tests on
these reports shall include but not be limited to the
following:
-Loan loss reserves, as a percentage of gross non-
performance loans
-Core deposits, as a percentage of total assets
-Borrowed funds, as a percentage of total assets
-Equity capital, as a percentage of total assets
-Equity growth
-Return of assets
-Equity growth in relation to asset and deposit growth
Services will be evaluated on availability, time schedules,
reporting, and in the case of interest -bearing demand
accounts, interest rates.
All proposals from qualified public depositories that pass the
completeness test and financial strength/capacity tests and
provide a satisfactory service level will then be ranked based
upon least total cost to the City. Least total cost to the
City is defined as the lowest combination or projected monthly
service costs, float factors, highest earnings factor
specified in the bank's proposal and the resulting direct fee
basis or non -interest bearing certificate of deposit.
8
The City of La Quinta Finance Director will judge the merit of
the proposals received. The sole object of the evaluation
will be to recommend the entity whose proposal is most
responsive to the City's needs. The specifications of the RFP
represent the minimum performance necessary for response.
Additional services proposal's will be weighed in the final
selection.
5. Collateral
The selected provider of banking services is required to
adhere to State of California Government code Section 53652
requiring public funds to be collateralized at least 10
percent in excess of total deposits.
SECTION 4. SCOPE OF BANKING SERVICES
I. CONTRACT TERMS
I. Contract Period
The selected institution shall be designated as the
City Is depository for an initial three-year term which is
anticipated to commence December 1, 1994. The depository
contract shall contain an automatic renewal clause which
may be used for the following one (1) year under the same
terms and conditions, thereby providing for four (4)
years of depository and banking services.
2. Cancellation of Contract
The depository contract shall provide that the City
reserves the right to cancel any agreement at any time
upon ninety (90) days prior written notice of its intent
to terminate any agreement. The designated depository
shall provide the City at least ninety (90) days prior
written notice of its intent to terminate any agreement.
3. Award of Contract
The contract will be awarded to that entity whose
proposal conforming to the Request for Proposal, is most
advantageous to the City. The City of La Quinta Banking
Services Contract is expected to be awarded at the La
Quinta City Council meeting to be held at 3:00 p.m.
Tuesday, November 8, 1994 at the La Quinta City Council
Chambers located at 78-495 Calle Tampico, La Quinta,
California 92253.
9
II CURRENT CITY OPERATIONS
1. Background
The City of La Quinta currently has 2 checking (Petty
Cash and Operations) and 1 demand account at Bank of
America's Indio branch. The demand account is earning
interest at a moneymarket savings account rate and the
checking account is non -interest bearing analysis
account.
2. Current Needs
The City of La Quinta will in conjunction with this
request for proposal, requests usage of two accounts:
one (1) interest bearing operating sweep account and one
(1) petty cash checking account.
3. City of La Quinta Pooled Funds Operating Account
This account is the City's general operating
checking/savings account. This account receives all
revenues pertaining to City of La Quinta. All interest
earnings are to be credited to this account. All
investment activity via wire transfers will be conducted
through the operating account. Also, if the City desires
the use of the selected financial institution's
investment or safekeeping services, the interest earning
operating account will be used for disbursement and
receipt of investment activity.
All disbursements are made through this account City of
La Quinta vouchers. An on -going basis is used in
preparation of processed computerized checks are reviewed
by the Accounting Supervisor. Prior to distribution to
signors checks on this account must bear two actual
signatures for any amounts. All City Employees are paid
bi-weekly and approximately 70 payroll checks are
produced. The City is currently paying federal taxes bi-
weekly and quarterly through automated payments and is
interested in the availability of this payment method for
various expenditures.
4. City of La Quinta Petty Cash Account
This account is utilized for the reimbursement of
expenditures amounting to $50 or less per transaction.
The City requests a non -interest bearing checking account
not to exceed $500 be made available.
10
III REQUIRED BANKING SERVICES
General Information
The categories listed below are the basic required
package of banking services.
Each proposer shall submit a comprehensive list of
service prices by completing the service cost section of
the Proposal Form. This list will be considered all-
inclusive and the prices shown on the list shall be
incorporated into the agreement and will be effective
through the term of the agreement. In completing the
"Interest bearing account proposal" portion of the
proposal form, the "Basis for Determining Rate" section
shall specify the money market instrument upon which
proposed rate is based and the method to be used in
calculating the rate (e.g., 90% of prime rate, etc.).
Vague references to "managerial discretion" or
"competition" are not acceptable.
1. Depository Requirements - City of La Quinta Operating
Account
A. Pooled Funds Operating Account
This account will be an interest -bearing demand
account. It is anticipated that there will be
approximately 400 to 600 individual item deposits
per month to this account. It is further
anticipated that there will be 300 to 400 checks
issued per month.
Payroll checks are issued on bi-weekly Fridays.
Approximately 70 payroll checks are distributed for
each payroll period. Dependent upon the
acquisition of a new computer system, the City
would most likely be interested in obtaining
payroll direct deposit services. Please provide
cost information and program requirements.
The bank shall notify the City daily of the level
of available collected funds in the account by 9:00
a.m.
The level of available funds will be determined on
the following schedule:
11
i. Items on the depository, wire
transfers, ACH deposits, cash SAME DAY
ii. Items on local institutions NEXT DAY
iii. Other Items FEDERAL RESERVE
AVAILABILITY SCHEDULE
The above schedule shall be the maximum clearing
schedule. If the bank can offer faster clearing
services, they should be outlined in the proposal.
If a proposer is using an availability schedule
other than the Federal Reserve Schedule, a copy
must be attached to the proposal.
Interest shall be paid on all collected balances in
the account at the end of the business day.
Proposals shall include the type of account (i.e.,
Sweep, ZBA, Now, Super Now, etc.), the basis for
determining interest rate and fee necessary to
cover all services relating to general operating
outlined below.
B. Bags and Night Drop Services
i. The bank shall provide the appropriate number
of adequately sized locking depository bags at
no cost.
ii. The bank shall provide night depository
services as needed by the City for those
departments receiving revenues during the
weekend.
C. Wire Transfers
It is estimated that the City will have
approximately 4 to 8 outgoing and 6 to 10 incoming
wire transfers per month.
D. Stop Payments
It is estimated that 0 to 2 stop payments will be
issued per month. All stop payments (including
those against payroll and current expense accounts)
shall be against this account.
E. Traveler's Checks and Cashier's Checks
The Bank will provide traveler's checks and
cashier's checks for use on City business for City
employees at no cost to the City.
12
F. Printing
The City will provide checks and the bank is to
supply deposit slips printed in conformity with
City specifications at no additional cost to the
City. Approximately 10-15 deposit slip books in
duplicate form are needed.
G. Direct Sends
From time to time the City receives out-of-town
checks in amounts large enough to justify same day
clearing at the Federal Reserve. Proposers shall
indicate whether they are able to provide direct
delivery to the Fed and the price for which this
service is available. If the bank can offer faster
special clearing services they should be outlined
in the proposal along with the cost of such
services.
H. Courier Service
Proposers are requested to submit the monthly cost
of a daily courier service made available through
the institution. No cash will be transported
through the courier service.
I. Safety Deposit Box
The City requests a safety deposit box be allocated
for storage of legal documents.
J. Account Reconciliation
For the Operating Account the City requires the
bank to provide a paid check listing and tape in a
format acceptable to the City within three (3)
business days after the month -end cut-off.
Proposing banks should provide a detailed
description of their standard reconciliation
product as well as any differentiating
characteristics. Please provide the full range of
modes of communication possible with your product
and any enhancements that are available to reduce
costs, improve check fraud prevention, streamline
data presentation, etc. This information should be
submitted as a separate addendum to Section 6.
Numerical check storting is also requrested to be
completed by the banking staff.
13
K. Other
Proposers are requested to list any other services
that will be provided to the City at no cost.
IV. ACCOUNT MAINTENANCE SERVICES
Each proposal shall include specific times when the
information and material requested below will be provided to
the Finance Director. The Finance Director has established
suggested standards which are set forth in parentheses, (-);
although proposers can propose earlier times which best fit
individual banks.
1. Daily Reports
The daily balance in each account will be communicated to
the Finance Director's staff during the morning of the
next banking day at 9:00 a.m. When this information is
not available at the specific time, the finance
department personnel will estimate the account balances
and make investments according to their best estimates of
the account balances. The City shall not be charged or
penalized over the rate of compensation if an overdraft
results because of the account balance information not
being available at the specific time.
2. Weekly Statements
A Weekly summary statement of the City of La Quinta and
Operating Account showing all credit and debit
transactions and the ending balance will be made
available on the second banking day following each week
at 11:00 a.m.
3. Monthly Statements
Monthly statements for all accounts are to be provided to
the Finance Director with documentation supporting all
entries on the statement within five (5) business days
after the last calendar day of each month. Canceled
checks shall be sorted in numerical order and returned in
boxes suitable for storage. The statement shall have
checks listed in numerical order with any breaks in the
order noted.
A monthly analysis report showing overall activity in the
City accounts shall also be provided to the Finance
Director within ten (10) business days after the end of
each calendar month. This report shall include a monthly
analysis of the bank's cost of operating the City
accounts.
14
4. Resource Personnel
The bank shall identify a principal representative in its
operations department who is available to answer
questions pertaining to transactions which require more
detailed explanation and have the ability to commit
substantial periods of time to the City's accounts if
requested. Qualifications and experience must be listed
of the names principal representative.
5. Deposit Services
The bank shall give all deposits received by 5:00 p.m.
credit as good ledger balance funds for the same day.
The bank shall similarly identify the time and branch(es)
where a final daily deposit(s) will be accepted.
6. Wire Transfer Services
The bank shall maintain wire transfer facilities to the
Federal Reserve Bank for investment purchases or sales
and other transactions with commercial banks.
7. Access to Records and Cooperation
The bank shall, upon authorization from the City's
Finance Director, allow reasonable access to bank records
by the City's Financial Officers, the City's independent
auditors, and where state or federal assistance is
involved, to state and federal auditors, to examine
records relating to the use of funds. The bank shall
also cooperate in any prosecution for misuse of checks
and misappropriation of funds.
8. New Accounts
If the City develops a need for additional accounts or
services during the life of the depository agreement,
those new accounts or services shall be provided with the
same conditions as apply to existing accounts at the
time. If the Federal Reserve, or other regulatory bodies
provide for the establishment of new accounts or other
regulations which are favorable to the City the bank
shall make those new services available to the City.
15
COMPENSATION
1. General Information
Compensation shall be provided in the form of a direct
fee basis.
A. Direct Fee Proposal. Each proposer shall specify
direct monthly fees of each account for services
performed in maintaining each account. Under this
method of compensation, interest will be paid to
the City on the basis of ledger balances before
float.
16
SECTION 5. OPTIONAL SERVICES
A proposer may, under separate cover, submit optional
proposals for other services that the proposer feels would be
in the best interest of the City. Any optional proposal will
be considered separately from the basic service proposal.
However, the goal is to obtain the most efficient solution for
the City regarding Banking and custodial Services. The
"Selection Criteria" set forth previously herein applies to
the selection of a bank for an additional banking service(s).
Listed below are services the City requires and requests
responses to be included in the RFP package or as a separate
optional service. Responses to optional services are to
complete "Exhibit B" Forms.
I. City of La Quinta State Warrants
The City of La Quinta receives three state warrants per
month form the State of California for sales and other
taxes. Gross amount of these checks exceed $2.2 million
annually. A courier service to obtaining warrants from
the State Revenue Department by your affiliated bank may
be arranged and then wired directly to the City's
operating account.
17
2.
II CUSTODIAL SERVICES FOR INVESTMENTS
The selected bank of the safekeeping optional service
shall be the City's custodial agent in charge of
safekeeping its investment securities. The agent bank
shall control the securities through its own safekeeping
department. All proposals should identify where
safekeeping facilities will be located and what banks are
used as correspondent banks. Proposals shall clearly
specify services to be performed and the cost on a
monthly basis. The objective of the City is to obtain a
category 1 GASB audit rating for investment held by third
parties.
Proposals of custodian services which provide a
significantly greater amount of service for the City's
investments shall be seriously considered.
Issuing Office
The City of La Quintal (City), is soliciting proposals
from state or federally charted commercial banks (the
"Bank"), located within the State of California, having
insurance of accounts through the appropriate federal
issuing agency of the United States interested in
providing safekeeping, clearance and reporting services
for securities purchased and sold by the city for its own
portfolio.
Purpose
The City has an immediate need for the establishment of
independent safekeeping, clearing and reporting services
in order to insure protection of its security interest in
portfolio investments, standardize safekeeping of
portfolio investments and simplify the reconciliation of
safekeeping accounts. Accordingly, prospective
respondents are advised that upon implementation with the
selected Bank for these services requested herein, the
Bank shall be restricted from acting as counterpart with
the City on any investment transaction for the purchase
of investments described in Section 2.A.
A. This Request for Proposal is to solicit proposals
from banking institutions capable of clearing and
safekeeping the following:
I. Obligations of, or obligations insured or
guaranteed by, the United States or any agency
or instrumentality of the United States.
18
II. Repurchase agreements secured by obligations
issued or guaranteed by the United States or
agencies or instrumentalities of the United
States.
III. Negotiable certificates of deposit
Additionally, the Bank must report daily clearing and
safekeeping activity and summarize activity on a monthly
basis. These services are to meet the requirements,
purposes and capabilities per terms, conditions and
specifications contained herein. This document,
subsequently referred to as the Request for Proposal
(RFP), explains the service requirements, the RFP
selection criteria and proposal documentation required to
respond to this RFP.
3. Current System
Currently, government and agency securities and money
market instruments purchased by the City of La Quinta are
held by Banking and security Broker Institutions who
offered the securities. The number of transactions,
volume, and type of security subject to safekeeping will
vary from time to time depending on the City's investment
activity, but should not differ from types described in
paragraph 2.
4. Service Requirements
4.1 The Bank, with offices located within the State of
California, which provides safekeeping, clearance,
and reporting services must:
A. Be a member of the Federal Reserve Bank and be
a state or federally chartered commercial bank
having insurance of accounts through the
appropriate federal insuring agency of the
United States.
B. Safekeep and clear securities as agent for the
city on a delivery versus payment basis.
However, upon implementation of the services,
securities already owned by the City will be
delivered into safekeeping on a free delivery
basis.
C. Provide confirmation documentation to the City
for each receipt and delivery of securities or
funds as they occur, identifying asset
description, purchase, sale, maturity, call or
transfer date, accrued interest, total cost,
19
par value, coupon/basis, and purchased yield
as may be applicable to the transaction.
Confirmations must be postmarked no later than
one (1) working day following transaction
occurrence.
D. Provide a monthly statement of assets and cash
receipts and disbursements, detailing each
transaction during the month and describing
each asset completely. Assets shall be
reported at cost and market value as of the
end of each month. Monthly statements must be
postmarked no later than three (3) working
days following month's end.
E. Promptly notify the City by telephone no later
than 11:30 a.m. Pacific Standard Time or
Pacific Daylight Savings Time (whichever is
appropriate) of any failure to deliver or
failure to receive securities or funds in
connection with any transaction.
F. Collect and receive interest income, maturity
and sale proceeds from the securities held by
the Bank in safekeeping and wire transfer
funds on the same day. This will be done in
accordance with instructions, to be delivered
into safekeeping which will be wired to the
Bank on the settlement day.
G. Wire transfer and receive funds by wire
transfer in accordance with instructions from
the City.
H. Maintain all City assets in the City's name in
the Bank's vault, the Bank's account at the
Federal Reserve, or a correspondent depository
acceptable to the City.
4.2. The City shall have the right, exercisable directly
or through its auditors, to examine and audit
securities and cash held by the Bank for the city
and records pertaining thereto during the Bank's
normal business hours without notice.
5. Response Data
In order to facilitate a fair and equitable evaluation
and selection of the most responsive proposal, all
respondents must adhere to the following format and order
of responses:
20
A. A statement of the Bank's experience and capability
to provide security safekeeping, clearance and
reporting services similar in nature and activity
volume to the City. Included in this statement
should be: The technical resources utilized by the
Bank, its associated "down time" during the past
six months, and the approximate number of clients
whose safekeeping, clearance and reporting services
are comparable to or greater in size than the
City's prospective accounts. The statement must be
signed by an officer of the Bank authorized to bind
the Bank to all commitments made in the proposal.
B. The name and title of the person who will be
responsible for the City's account and transactions
and a brief description of that person's
qualifications and experience relative to the
services required by the City.
C. A statement identifying the Federal Reserve
District of which it is a member, the "down time"
of said district during the past six months, and
the security transfer and money transfer cut-off
times for the transaction of business, stated in
Pacific Standard Time or Pacific Daylight Savings
Time, whichever is appropriate.
D. A copy of the Bank's most recent audited annual
report and a copy of the Bank's most recent
quarterly (June 1994) Uniform Bank Performance
Report prepared by the Federal Financial
Institution Examination Council.
E. A minimum of two references of customers currently
receiving safekeeping, clearance and reporting
services similar in nature and volume to those
required by the City.
F. The name and location of the place where each type
of security will be held.
G. Samples of transaction confirmations or safekeeping
and clearance receipts and monthly statements.
H. Description of the Bank's policy regarding failed
transactions and methodology for compensation.
Including a description of formula of the method
used to determine compensation.
21
I. Number of calendar days after issuance of Notice to
Proceed when services will commence. It is the
intention of the City to enter into a contract for
three years, but which may be renewable each year
for one year.
J. Service fees should be segregated as follows. With
the exception of the monthly Basic Service Fee,
compensation proposed on any basis other than as
specified below will not be accepted.
Fee for Years Two and Three shall not exceed 5% of
the Contract's initial year of service without City
review and approval.
K. The term of this agreement shall be for three years
awarded in one year increments. Any extension will
be for a period of one year and based on the
approval of funds by the City Council for that
purpose.
6. Evaluation Criteria
A proposal selection committee will review all proposals
and will analyze the proposals for responsiveness to the
RFP, assign point values based on evaluation criteria,
and recommend award.
Written proposals will be evaluated on the following
criteria:
Maximum Number of
Points
Experience, Capability, and Technical resources 5
Experience with Accounts of Similar Size 5
Staff Qualifications and Experience 10
Absence of Performance Constraints 10
Client References
5
Reports and Transaction Documentation in
Accordance with 4.1.C. and D.(page 2) 5
Fail Policy and compensation Methodology 15
Service Fee
35
Overall Compliance with Service Requirements 10
Total 100
22
7.
General Conditions
A. Any costs incurred in the preparation of a
proposal, presentation to the city, travel in
conjunction with such presentations, or samples of
items shall be the responsibility of the
respondent. The City shall not be liable for any
costs incurred by the respondent in proposal
preparation. The City assumes no responsibility
and no liability for costs incurred by respondents
prior to issuance of an agreement contract or
purchase order.
B. Prices are to be stated in units specified by this
RFP. Prices quoted shall be in U.S. dollars.
C. The City will enter into a contract for
safekeeping, clearing and reporting services in
response to a satisfactory proposal. The contract
award will be made after selection of one (1)
respondent's proposal from competition among all
respondents with implementation of the services to
follow. However, this RFP does not indicate a
commitment by the City to award a contract to the
successful respondent. The award of a professional
service contract shall be contingent on the
availability of funds and the appropriate approvals
including City Council, if required. Anticipated
award will occur following the above referenced
approvals within 60 calendar days after receipt of
proposals. The City intends to evaluate the
proposed services based upon the data presented in
response to this RFP. The ability of the
respondent to provide concise yet thorough response
to all of the information requested herein will be
one measure of apparent qualifications.
D. Any questions or inquiries must be directed to the
Finance Director.
Richard Parzonko
Finance Director
78-495 Calle Tampico
La Quinta, CA. 92253
Contact Phone: (619) 777-7054
E. Four (4) copies of the proposal shall be submitted
to the Finance Director, each of which should be
bound separately in a single document. submission
must be in a sealed envelope or container which
must be marked "Security Safekeeping, Clearance and
23
Reporting Services." Late submissions will not be
considered and will be returned unopened to the
respondent after contract award.
F. At the discretion of the City any or all parts of
the respondent's proposal shall be made a binding
part of the selected Bank's contract and agreement.
G. Although the service cost will be a factor used by
the evaluation committee to determine project
budget feasibility, the contract will not
necessarily be awarded to the respondent with the
lowest proposed cost. It is understood that all
pricing provided is firm for the period of sixty
(60) days from the proposal due date.
24
SECTION 6. BIDDING FORMS
25
BANKING SERVICES
PROPOSAL FORM
Richard Parzonko
Finance Director
78-495 Calle Tampico
La Quinta, CA 92253
Dear Mr. Parzonko:
EXHIBIT A
We have read the Finance Director's Request for Proposal and
fully understand its intent. We certify that we have adequate
personnel, equipment and facilities to fulfill the requirements
thereto. We understand that our ability to meet the criteria and
provide the required services shall be judged solely by the Finance
Director's Office.
We have attached the following:
1. Call reports for the past two years.
2. Annual financial reports for the past three years.
We further certify that we have filed with the Finance
Director an affidavit of one of our officers of the amount of this
institution's capital stock and surplus.
It is understood that above information will be used as
evidence of our ability to meet the capital structure requirements
necessary to service this account.
It is further understood that all information included in,
attached to, or required by this Request for Proposal shall become
public record upon their delivery to the City's Finance Director.
Submitted by:
(Bank)
(Authorized Signature/Title)
(Authorized Signature/Title)
(Telephone)
(Date)
POP
EXHIBIT A
BANKING SERVICES CONSOLIDATED BID FORK
Bank Submitting Bid,
Bank
Depository Services
Checks Paid:
Accounts Payable
Payroll
Items Deposited:
Other
Returned Checks
Wire Transfer:
Incoming
Outgoing
Daily Balance Reporting
Monthly Service Charge Report
Account Reconciliation:
Computer Tape
Checks Sorted
Daily Courier Service
Stop Payments
II. Other Banking Services:
A. ACH Items
B. ACH Transmissions
C. DDA Account Maintenance
D. Direct Deposit
E. Branch Service Charges
F.
G.
Estimated
Annual Unit Annual
Units Cost Cost
41000
11820
61000
48
96
72
252
12
51820
51820
250 Days
24
$ Each
$ Each
$ Annually
$ Each
27
EXHIBIT A
INTEREST EARNINGS PROPOSAL
Interest bearing account proposals:
Average Interest Basis for
Type of Rate for the Determining
Account Account Month of July 1994 Rate*
Operating
Please identify the particular investment City funds will be invested with if
the bank elects to provide an investment option not directly related to the
bank. The "external" investment needs to comply with the City's Investment
Policy regarding permitted investments.
* (i.e. percent of federal funds rate, percent of Prime, percent of T-Bill,
discount rate, etc.)
ACCOUNT MAINTENANCE INFORMATION
We agree to furnish the following account maintenance information at the
time specified below. We understand that the times are general standards
established by the Finance Director and that any other time may be proposed
for furnishing the information.
Service Description
Daily Account Balance Reporting
Weekly Statements
Monthly Statements
Cost of Operating City Service
Charge Statement
Suggested Standards Proposed
9:00 a.m. next banking day
11:00 a.m. 2 days after
end of week
5 days after end of month
10 business days after
end of month
28
OPTIONAL SERVICES
PROPOSAL FORM
Richard Parzonko
78-495 Calle Tampico
La Quintal CA 92253
Dear Mr. Parzonko:
EXHIBIT B
We have read the City of La Quintas' Finance Director's Request for
Proposal and fully understand its intent. We certify that we have adequate
personnel, equipment, and facilities to fulfill the requirements thereto. We
understand that our ability to meet the criteria and provide the required
services shall be judged solely by the Finance Director's Office.
We have attached the following:
1. Call reports for the past two years.
2. Annual financial reports for the past two years.
We further certify that we have filed with the Finance Director the
affidavit of one of our officers of the amount of this institution's capital
stock and surplus.
It is understood the above information will be used as evidence of our
ability to meet the capital structure requirements necessary to service this
account.
It is further understood that all information included in, attached to,
or required by this Request for Proposal shall become public record upon
their delivery to the City's Finance Director.
Submitted by:
(Bank)
(Authorized Signature/Title)
(Authorized Signature/Title)
(Telephone)
(Date)
29
EXHIBIT B
I. STATE TAX WARRANTS COURIER SERVICE
Proposal Form
We agree to furnish "Instant Deposit" services for the City of La
Quinta.
The City of La Quinta will select a bank to act as its agent in
receiving warrants from the State of California office located at
. The bank selected will provide courier service for
receipt of warrants upon notification that the warrants are indeed ready for
issuance. Cost of services should be either be a flat fee or percentage of
warrant amount. Identify all other fees and their costs associated with this
service.
Amount of Warrant Percent of Warrant Flat Fee
$ 50,000
100,000
200,000
300,000
400,000
500,000
750,000
11000,000
11250,000
1,500,000
Other Fees
Service Description Amount
30
EXHIBIT B
II. CUSTODIAL SERVICES PROPOSAL FORM
Per Item Cost
Account Maintenance Fee
Monthly Basis Service Fee
Safekeeping Charges
Book Entry
Physical
Clearance Charges
Receive Book Entry Asset
Receive Physical Asset
Deliver Book Entry Asset
Deliver Physical Asset
Redeem Book Entry Asset
Wire Transfer Fees
Incoming
Outgoing
31
T 0 0
4,if 4 Ogmto
COUNCIL/RDA MEETING DATE: July 5, 1994
ITEM TITLE:
Demand Register - July 5, 1994
RECOMMENDATION:
Approval of Demand Register.
BACKGROUND & OVERVIEW:
Prepaid Warrants:
18772-18784)
18700,18771,18785-18789)
P/R 18794-18863)
Payable Warrants:
18794-18863)
FISCAL IMPLICATIONS:
Demand of Cash - City
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
$ 33,582.72
65,364.96
195,881.71
City Demands $ 249,934.06
195,881.48 RDA Demands $ 100,133.65
$ 350,067.71 $ 350,067.71
$249,934.06
Richard Parzonk1Finance Director
GL33U4 6/16/94
WARRANT
ACTIVITY BY FUND
PAGE 1
DATE
WARRANT
PAYEE
Cm=
AMOUNT EXCU34D
DESCRIPTION
NUMBER
AMOUNT
NUMBER
.1/ERAL
FUND
6/16/94
18772
BYRD SHERIFF, COIS M
535.48
535.48
EMPLOYEE GARNISHMENT
6/16/94
18773
C.V.J.P.I.A
1,014.58
1,014.58
LONG TERM DISABILITY
6/16/94
18774
CALIFORNIA, STATE OF
2,806.97
2,806.97
8WT P/R 6/17/94
6/16/94
18775
CLERIC OF SUPERIOR COURT
400.00
400.00
EMPLOYEE GARNISHMENT
30.00
CVAQ ANNUAL MEETING
6/16/94
18776
CVAG
60.00
30.00
CVAG ANNUAL MEETING
6/16/94
18777
ICKA RETIREMENT TRUST-457
1,922.50
1,922.50
DEFERRED COMP 6/17/94
32.00
MAYOR'S BREAKFAST
10.00
MAYOR'S BREM AST
10.00
MAYOR'S BREAKFAST
10.00
MAYOR'S BREAKFAST
6/16/94
18778
LA QUINTA CHAMBER OF
72.00
10.00
MAYOR'S BREAKFAST
6/16/94
18779
LA QUINTA CITY EMPLOYEES,
262.50
262.50
00 DUES P/R 6/17/94
13,716.56
BBPS P/R 6 W/94
6/16/94
18780
P.E.R.S.
13,789.19
52.63
PERS SURVIVOR BNFT
6/16/94
18781
RIV. CO. DIST ATTORNEY
723.00
723.00
EMPLOYEE GARNISHMENT
6/16/94
18782
RIVERSIDE CO RECORDERS OF
79.00
78.00
AMENDMENT 20A-93-035
6/16/94
18783
RIVERSIDE COUNTY EMP.
11,820.00
11,820.00
CREDIT UNION 6/17/94
6/16/94
18784
UNITED WAY OF THE DESERT
98.50
90.50
26 CONTRIBUTIONS
--------
TOTAL GENERAL FUND
$33,582.72 "
--------
----- GRAND TOTAL DEMANDS---------
33,592.72 **
M4 6/16/94
iATE OF WARRANT IN FAVOR OF
ISSUE NUMBER
W A R R A N T R E G I S T E R
CHECK AMOUNT
AMOUNT
/16/94
18772
BYRD SHERIFF, COIS M
535.48
6/16/94
18773
C.V.J.P.I.A
1,014.58
6/16/94
18774
CALIFORNIA, STATE OF
2,806.97
6/16/94
18775
CLERK OF SUPERIOR COURT
400.00
6/16/94
18776
CVAG
60.00
6/16/94
18777
ICMA RETIREMENT TRUST-457
1,922.50
6/16/94
18778
LA QUINTA CHAMBER OF
72.00
6/16/94
18779
LA QUINTA CITY EMPLOYEES'
262.50
6/16/94
18780
P.E.R.S.
13,789.19
6/15/94
18781
RIV. CO. DIST ATTORNEY
723.00
6/16/94
18792
RIVERSIDE CO RECORDERS OF
78.00
6/16/94
18763
RIVERSIDE COUNTY EMP.
11,820.00
6/16/94
18784
UNITED WAY OF THE DESERT
98.50
--------
----- GRAND TOTAL DEMANDS---------
33,582.72 **
535.48
1,014.58
2,806.97
400.00
60.00
1,922.50
72.00
262.50
52.63
13,736.56
723.00
78.00
11,820.00
96.50
PAGE 1
ENCUMB DESCRIPTION
NUMBER
EMPLOYEE GARNISHMENT
TANG TERM DISABILITY
SWT P/R 6/17/94
EMPLOYEE GARNISHMENT
CVAO ANNUAL MEETING
DEFERRED COMP 6/17/94
MAYOR'S BREAKFAST
EMP DUES P/R 6/17/94
PERS SURVIVOR BNFT
PSRS P/R 6/17/94
EMPLOYEE GARNISHMENT
AMENDMENT 20A-93-035
CREDIT UNION 6/17/94
EMP CONTRIBUTIONS
Rl
43
-9 711,�Ivl
00�
0'�
f,
41
46
v tii
AW,
A-
tow
14c
zorw*
4;1111!im ltijl:3m
i"W,
cm
snw%
A
1cm illy
6/29/94
liff"
AM
2,714.1.1
;-2,714.12
I =110 14 1 1
106#67
DMZVXW APPWKX PtMITS
hill I
n ACTION i
131.46
amitm= To SERVICES
6/22/94
187"
A
6122/94
187"
AT A T
174.90'-`
174.96
l iE 411W
6/29/94
IBM
RAIM,FRED
mW
Icautamy SAM
22.58'
WNWIAITIFIMM/CLA
6.24
11iDI11Tc HOSE
6/29/94
19601
BIG A AUTO PAM
44.45,
15.71
wmT
6/29/94
18602
B81 rq me N m IT . ANTS , Inc,
243.00
243.00
PLU CHECK FEES
6/22/94
16003
BUILDING NEW INC'
6.75
6.75
94IPP IMANUKZ
6/22/94
18804
C-V-J-P-I-A
350.00
350.00
CM Of 19 V8 R Xf I nil
6/29/94
18203
CADVYIAK SY92 I m Co
62.04
$2.04
BLOrZWPLAUMM
4/22/94
18806
CADET UXnM* SUPPLY
262.37
262.37
UsErom
6/29/94
18607
CAL WEST El1G11llRZNG
4,051.01
4,051.03
PLU CHECK SERVICES
4/29/94
18809
CAFJZR TRACK 3=1023
9l.00
9l.00
=IxWD COVER
6/29/94
18809
CAM & CUM INC
65.45
65.45
xgunnum Dism FUEL
6/29/94
issio
COACHELLA VALLEY
200.00
200.00
IgmIm"of SET Fmim
6/29/94
leen
coAcmwA vaum wamm
7,363.11
7,563.11
WRTZR SVC/mhY
6/29/94
18812
COMPUTER GALLERY
4,430.49
4,430.49 3034
HP LASERJET PRINTERS
6/29/94
18913
CC1MSZRCO
1,110.91
1,110.91 2846
ANTENNA/HOLDER
6/22/94
16814
DANNY'S PEST CO1fTROL
20.00
20.00
PERT CCWJMM/JUN
6/29/94
18815
DATZLAND , I I m f RLMMON Co
2,715.10
2,715.10
SMW HOOK UPS/92TENMON
6/29/94
18816
DZ0XW ELECTRIC
$0.81
90.91
Liam
5/22/94
18817
013XV SUN COMM NP GROUP
21.60
21.60
INSTRUCTOR CLASSIFIED
6/29/94
18818
DESERT SUN, THE
45.91
45.91
INBTRUCTOR CLASSIFIED
6/29/94
18819
DESERT VIEW
65.00
65.00
OILSIST VIEW SUBS
6/29/94
18820
DOUVLZ PRIM 1 SM PHOT
7.12
7.12
PNMW
6/29/94
18821
DRISCOLL, JCHN
125.00
123.00
PAINTING RANGING
6/29/94
18822
Er'll - SEWER SERVICES
300.00
300.00
PUMP CESSPOOL/SEPTIC THE
6/29/94
18823
ECORMCS INC
732.82
732.62
AD939 IMPLEMENTATION
6/29/94
18824
EISENHOWER IMMEDIATE CUM
$9.00
89.00
EMPLOYMENT Exhm
6/29/94
18625
FEDERAL EXPRESS CORP-
176.25
176.25
FEDERAL EXPRESS/MAY
6/29/94
18825
FLYERS PLUS
25.00
25.00
COMPUTER RENTAL
6/29/94
18827
GAsChRD INC - 30D16
1,539.10
1,539.10
am PURCH/MAY
97.11
SVCIJUNE
38.44
PHONB SVC/JUN
6/29/94
18828
GENERAL TELEPHONE
212.43
76.88
PHmfB SVC/JUNE
268.91
1=0 CLOCK REPAIR
247.83
FERTILIZER
6/29/94
18829
HIGH TECH IRRIGATION INC
593.43
76.69
IRRIGATION PARTS
6/29/94
18830
HOLMAN INDUSTRIES
8.00
8.00
NAME PLATE
,24U4 6/29/94
WARRANT R E G I S T E R
PAGE 2
DATE OF
WARRANT
IN FAVOR OF
CHECK
AMOUNT
ENCUMB DESCRIPTION
ISSUE
NUMBER
AMOUNT
NUMBER
6/29/94
18831
IBM CORPORATION 5T4
229.08
229.08
IBM SYSTEM 36
6/29/94
18832
ICBO
66.30
66.30
BUILDING CODE PUB
6/29/94
18833
IMPERIAL IRRIGATION DIST.
9,762.56
9,762.56
ELEC SVC/MAY
6/29/94
18834
INDIO SHOE STORE
172.40
172.40
STEEL TOE BOOTS
6/29/94
18835
JUBILEE POOL & SPA CARE
95.00
95.00
FOUNTAIN MAINT/JUN
6/29/94
18836
KELLY TEMPORARY SERVICES
734.16
734.16
CONTRACT LABOR
6/29/94
18837
KENS AUTO REPAIR
20.76
20.76
VEHICLE REPAIRS
6/29/94
18838
KICAK AND ASSOCIATES
500.00
500.00
PROF SVCS/PLATS & LEGAL
6/29/94
18839
LOS ANGELES TIMES
31.36
31.36
LA TIMES SUBSCRIP
6/29/94
18840
M K CAMERA & PHOTO
15.19
15.19
PHOTOS
6/29/94
18841
MACKENZIE & ASSOCIATES
1,500.00
1,500.00
APPRAISAL SVC
2,310.76
ARBITRAGE REBATE SVC
21,222.38
JUDICIAL FORECLOSURE SVC
3,389.61
ASSMNT DIST ADMIN
15,820.00
JUDICIAL FORECLOSURE SVC
2,010.74
ARBITRAGE REBATE SVC
6/29/94
18842
MUNI FINANCIAL SERVICES
44,953.49
200.00
JUDICIAL FORECLOSURE SVC
6/29/94
18843
NATIONAKL GUARDIAN CORP
372.00
372.00
ALARM SVC
6/29/94
18844
NOEL BRUSH AWARDS
25.80
25.80
EON PLAQUE
6/29/94
18845
PACIFIC EQUIP IRRIGATION
23.27
23.27
MOWER BLADE
6/29/94
18846
POSTAGE BY PHONE
2,000.00
2,000.00
POSTAGE FOR METER
6/29/94
18047
RIVERSIDE COUNTY SHERIFFS
2,208.00
2,208.00
BOOKING FEES/APRIL
6/29/94
18848
RIVERSIDE, COUNTY OF
1,041.60
1,041.60
ANIMAL CONTROL SVCS/MAY
6/29/94
18849
RIVERSIDE, COUNTY OF
18.76
18.76
CASSETTE TAPES
2,551.00
PROF SVC/HOUSING PROG
4,201.25
PROF SVC/HOUSING PLAN
3,636.49
PROF SVC/PAl BOND REF
350.00
PROF SVC/IMPLEMENTATION
927.50
PROF SVC/AMENDMENT
17.50
PROF SVC/CTY/CNTY PROP IN
6,756.00
PROF SVC/BUDGET/ACCOUNTNG
160.00
PROF SVC/STOCKMAN
300.00
PROF SVC/AMCOR
250.00
PROF SVC/RALPHS
2,948.00
PROF SVC/WILLIAMS DEV
1,624.00
PROF SVC/CV LAND
6/29/94
18850
ROSENOW SPEVACEK GROUP
24,021.74
300.00
PROF SVC/DSRT SANDS SCHL
60.76
CAN LIMNERS
29.26
SNR CNTR POT LUCK SUPP
6/29/94
18851
SMART & FINAL
184.01
73.99
SUPPLIES
6/29/94
18852
SMITH, MARILYN
33.06
33.06
SIFR CNTR POT LUCK LUNCHEN
6/29/94
18853
SOUTHERN CALIF GAS CO
57.92
57.92
GAS SVC/MAY
6/29/94
18854
SPRINT
587.35
507.35
PHONE SVC/MAY-JUN
53.77
COPIER PAPER
206.20
PENCILS/STAMP/STORAGE BXS
24.05
VIEW BINDERS
33.71
TABBING/PAPER
6/29/94
18855
STEVES OFFICE SUPPLY
331.07
13.34
CASSETTES/STAMP/BINDER
15,680.07
LEGAL SVC/GENERAL
1,466.50
LEGAL SVC/BURKEZT
184.35
LEGAL SVC/52 EMNT DOMN
6,391.01
LEGAL SVC/WYMER/ITM
47,399.47
LEGAL SVC/PRIMERIT BANK
1,457.70
LEGAL SVC/DESERT GARDENS
145.00
LEGAL. SVC/EMP NEGOTIATION
5
GL24U4 6/29/94
DATE OF WARRANT IN FAVOR OF
ISSUE NUS
WARRANT REGISTER
Cm= AMOUNT
AIrDUNT
6/29/94 18856 STRADLING YOCCA CARLSON
6/29/94 18857 SUSXI 6 SAKSKI MOWERS AND
6/29/94 18858 TIGER REPRO GRAPHICS
6/29/94 18859 U-S- POSTMASTER
77,340.60
34.48
57.11
75.00
6/29/94
18860 WAL-MART STORES INC
206.98
6/29/94
18861 WELCH'S UNIFORM RENTAL
33.95
6/39/94
18862 WEST PUBLISHING COMPANY
46.35
6/29/94
18863 84 LUMBER i HOME CENTER
10.64
--------
------ SUB TOTAL DEMANDS----------
261,246.44
6/16/94 DEMANDS
33,582.72
6/17/94 PAYROLL
--------------
55,236.55
GRAND TOTAL DEMANDS
350,067.71
N��NN��NN
4,616.50
34.48
57.11
75.00
62.45
51.69
48.16
44.68
35.95
46.35
18.64
PAGE 3
ENCUMB DESCRIPTION
NUMBER
LEGAL SVC/PORTER
TRIMMER STRING
BOND PAPER
BUZZ MAIL FEE
VEHICLE IMPAIRS
OZIDAY DECO
CALIF CODES
NnM WEST/HO MEDIAN
i
L33U4 6/29/94 WARRANT ACTIVITY BY FUND PAGE 1
DATE WARRANT
NUMBER
GENERAL FUND
PAYEE CHECK
AMOUNT
AMOUNT ENCUMB DESCRIPTION
NUMBER
17.50
CVMACC SUPERVSRS BRKFST
17.50
CVMACC SUPERVSRS BRKFST
6/14/94
18700*
CVMACC SUPERVISORS BFK
52.50
17.50
CVMACC SUPERVSRS BRKFST
6/14/94
18771*
DATELAND CONSTRUCTION CO
30.00
30.00
SWR HOOK-UP PERMIT REF
6/21/94
18785*
BEACSSIDE CAFE
80.00
80.00
COUNCIL DINNER
6/22/94
18787*
BIA RIVERSIDE CO REGION
20.00
20.00
PUBLIC OFFICALS LUNCHEON
6/22/94
18788*
CVAG
26.00
26.00
NICK NICKERSON FAREWELL
122.50
P/R TAX CHARGES
36.03
P/R TAX CHARGES
79.26
P/R TAX CHARGES
7.21
P/R TAX CHARGES
28.82
P/R TAX CHARGES
64.85
P/R TAX CHARGES
28.82
P/R TAX CHARGES
7.21
P/R TAX CHARGES
36.03
P/R TAX CHARGES
43.23
P/R TAX CHARGES
93.67
P/R TAX CHARGES
6/22/94
18789*
INTERNAL REVENUE SERVICE
655.71
108.08
P/R TAX CHARGES
6/29/94
18794
A AND S COFFEE SERVICES
202.00
202.00
COFFEE SUPPLIES
6/29/94
18795
ABLE RIBBON TECH
268.54
268.54
PRINTER INK CARTRIDGES
6/29/94
18796
ACE ALTERNATOR
51.40
51.40
FREON
6/29/94
18797
AMS
2,714.12
2,714.12
1aR'EBOOK COMPUTER
131.46
CONTRACT FOR SERVICES
107.21
PERSONNEL ACTION FORMS
106.67
DRIVEWAY APPROACH PERMITS
6/29/94
18798
ARROW PRINTING COMPANY
365.60
40.26
STATIONARY
6/29/94
18799
AT 6 T
174.98
174.98
PHONE SERVICE
6/29/94
18800
BAXER,FRED
39.68
39.68
MILEAGE/F BAKER
6/29/94
18802
BSI CONSULTANTS INC
243.00
243.00
PLAN CHECK FEES
6/29/94
18803
BUILDING NEWS INC
6.75
6.75
SHIPPING/MANUAL
6/29/94
18804
C.V.J.P.I.A
350.00
350.00
CITY OF LQ VS R CONNOR
6/29/94
18805
CADDYLAK SYSTEMS CO
62.04
62.04
BLOTTER/PLANNER
33.40
UNIFORMS
6/29/94
18806
CADET UNIFORM SUPPLY
66.80
33.40
UNIFORMS
140.00
PLAN CHECK SERVICES
70.00
PLAN CHECK SERVICES
3,351.03
PLAN CHECK SERVICES
210.00
PLAN CHECK SERVICES
6/29/94
18807
CAL WEST ENGINEERING
4,051.03
280.00
PLAN CHECK SERVICES
6/29/94
18808
CAREER TRACK SEMINARS
99.00
99.00
SEMINAR/D COSPER
6/29/94
18810
COACHELLA VALLEY
200.00
200.00
CONCERT SET RENTAL
19.00
WATER SVC/MAY
6/29/94
18811
COACHELLA VALLEY WATER
61.92
43.92
WATER SVC/MAY
2,215.25
3034
HP LASERJET PRINTERS
6/29/94
18812
COMPUTER GALLERY
4,430.49
2,215.24
3034
HP LASERJET PRINTERS
800.00
2846
BATTERY/ANTENNA/CASES
166.52
2846
BATTERY/ANTENNA/CASES
6/29/94
18813
CCMSERCO
1,110.91
144.39
2846
ANTENNA/HOLDER
6/29/94
18814
DANNY•S PEST CONTROL
20.00
20.00
PEST CONTROL/JUN
6/29/94
18816
DESERT ELECTRIC
80.81
80.81
LIGHTS
6/29/94
18817
DESERT SUN COMM NP GROUP
21.60
21.60
INSTRUCTOR CLASSIFIED
6/29/94
18818
DESERT SUN, THE
45.91
45.91
INSTRUCTOR CLASSIFIED
6/29/94
ISM
QXIMM TEOiY. M `, m ,. <;, <.'
'::.
►
6/2#/94
16630
lli3lgm..,z
6.00
6/29/94 `
18t31
Im CE811malaMov 6 .:.
22P+#
239.48
3 M 91081'Pllffi 36,
6/29/94
16632
Yt�4
t6., d.
66.30
mLDtm CODS m
6t29/%
IU33
IW9#tlxL 101t `.:11 p',
4y662.;d
4002.00
PC/l1i1Y
6/29/%
16633
JUlTLEB POOH. i B sRC�1l ; .
9'3 0
25.00
favoun MiIR'1'/Jmt
425.60
Cou"am LAIM
6/29/94
iM36
JMM TZW0=WCW,
734r ,
300.56
COWIMACT LABOR
6/29/94
1"38
XICAX AND A38QC'ZiC S
W009.
$ 0.00
nw SVCS/PLAMS G LEGAL
6/29/94
19639
LOB A11MM TD= a
31JO
31.36
Tip TDM 3U29CW
61.00
Alam SVC
45.00
ATAIK m
6/29/%
IN43
XMIO6An GOAVIAK OAR
37200,.:
246.00
MAM SVC
6/29/%
IN"
NO3L MM MWW
25 M °
35.60
Sat PLAQUX
6/29/94
In"
POSTAGE BY 1111 1
2100040
2,000.00
loon= FOR METER
6/29/94
18647
RI4n1SIDE COUNTY SARRIFTS
2,208 00<
2,208.00
300l 0 FEES/APRIL
6/29/94
186"
RIVX SIDS, COUNTY OF
1,041.60.
1,041.60
MINAL COMMtOL SVCS/MAY
6/29/94
18842
RIVERSIDE, COUNTY OF
16.76
18.76
CA3:3TTTE TAPES
73.99
MY XES
6/29/94
18651
SmRRT i FINAL
103.25
29.26
s CNTR POT LUCK SUPP
6/29/94
18852
SK=, MARILYN
33.06
33.06
mm CNTR POT LUCK LUNCSBN
6/29/94
19953
SOUTEM CALIF GAS CO
$7.92
$7.22
GA8 SVC/MAY
6/29/94
18854
SPRINT
507.35
587.35
P8l. SVC/MAY-JUN
13.34
CRBBZTTZS/STAMP/BIRDER
53.77
OOIP2ER PAPER
33.71
UMIRG/PAPYR
24.05
VIM BIRDERS
6/29/94
18855
SIEVES OFFICE SUPPLY
331.07
206.20
PZNCILS/STAMP/STORAGE BXS
15,680.07
LEGAL SVC/GENERAL
1, 466.50
LEGAL SMIWjy4m=
3,451.14
LEGAL SVC/WYMZR/ITEM
47,399.47
LZG1L SVC/PRIMERIT BANK
1,457.70
LEGAL SVC/DESERT GARDENS
145.00
LEGAL SVC/E4MP NEGOTIATION
6/29/94
18856
STRADLING YOCCA CARLSON
74,216.38
4,616.50
LEGAL SVC/PORTER
6/29/94
18858
TIGER REPRO GRAPHICS
57.11
57.11
SM PAPER
6/29/94
18859
U.S. POSTMASTER
75.00
75.00
B= MAIL FEE
48.16
PASS
51.59
80LIDAY DECO
44.68
VESICLE REPAIRS
8
L33U4 6/29/94
WARRANT
ACTIVITY BY FUND
PAGE 3
DATE
WARRANT
PAYEE
CHECK
AMOUNT
ENCUMB DESCRIPTION
NUMBER
AMOUNT
NUMBER
6/29/94
18860
WAL-MART STORES INC
206.98
62.45
VEHICLE REPAIRS
6/29/94
18861
WELCH•S UNIFORM RENTAL
35.95
35.95
MATS
6/29/94
18862
WEST PUBLISHING COMPANY
46.35
46.35
CALIF CODES
--------
TOTAL GE ERAL FUND
$105,746.00
STATE GAS TAX FUND
6/22/94
18789-
INTERNAL REVENUE SERVICE
28.82
28.82
P/R TAX CHARGES
51.02
UNIFORMS
6/29/94
18806
CADET UNIFORM SUPPLY
87.86
36.84
UNIFORMS
6/29/94
18809
CARR i CARR INC
65.45
65.45
EQUIPMENT DIESEL FUEL
135.45
WATER SVC/MAY
6/29/94
18811
COACHELLA VALLEY WATER
161.97
26.52
WATER SVC/MAY
209.69
GAS PURCH/MAY
6/29/94
18827
GASCARD INC - 30D16
504.49
294.80
GA8 PURCH/MAY
243.98
ELEC SVC/MAY
30.74
ELEC SVC/MAY
169.65
ELEC SVC/MAY
173.68
ELEC SVC/MAY
265.55
ELEC SVC/MAY
41.80
ELEC SVC/MAY
217.31
ELEC SVC/MAY
396.45
SIM SVC/MAY
4.00
ELEC SVC/MAY
152.67
ELEC SVC/MAY
205.51
ELEC SVC/MAY
177.73
ELEC SVC/MAY
196.31
ELEC SVC/MAY
298.11
ELEC SVC/MAY
182.57
ELEC SVC/MAY
29.05
ELEC SVC/MAY
195.50
ELEC SVC/MAY
6/29/94
18833
IMPERIAL IRRIGATION DIST.
3,003.18
102.57
ELEC SVC/MAY
6/29/94
18851
SMART 6 FINAL
40.38
40.38
CAN LINKERS
6/29/94
18863
84 LUMBER 6 HOME CENTER
18.64
18.64
MTRL WEST/HO MEDIAN
--------
TOTAL STATE GAS TAX FUND
$3,990.79
CITY-WIDE ASSESSMENT DIST 89-1
6/22/94
18789*
INTERNAL REVENUE SERVICE
36.03
36.03
P/R TAX CHARGES
6.24
AADIATOR HOSE
22.50
RADTR HOSE/ANTIFREEZE/CLA
15.71
ENGINE BELT
8.81
ENGINE BELT
6/29/94
18801
BIG A AUTO PARTS
44.45
8.81-
ENGINE BELT
55.92
UNIFORMS
6/29/94
18806
CADET UNIFORM SUPPLY
107.71
51.79
UNIFORMS
260.18
WATER SVC/MAY
36.92
WR32R SVC/MAY
25.96
WATER SVC/MAY
17.00
WATER SVC/MAY
30.44
WAZZR SVC/MAY
33.24
WATER SVC/MAY
55.64
WATER SVC/MAY
42.75
WATER SVC/MAY
0L33U4 6/29/94
Ia IMT
ACZIV= BY
FM
PAM 4
DA22 M YALSAT
DAYS!
AMO= =lCM
DESCRIPTION
947.86
MATLR SVC/MAY -
291.54
vkm SVC/MAY -
802.82
HATER SVC/MAY
185.44
HAS= SVC/MAY
265.64
wam SVC/Mhy
699.08
VA23R SVC/MAY
273.48
MA'1ZR SVC/MAY
162.04
"mm SVC/MAY
$5.32
mmm SVC/MAY
150.72
HATER SVC/MAY
228.00
mmm SVC/MAY
37.72
WA21M SVC/MAX
61.24
MATEA SVC/MAY
130.12
Vh= SVC/MAY
169.76
HATER SVC/MAY
151.94
VR22R SVC/MAY
".68
Nam SVC/MAY
552.70
HATER SVC/MAY
15.52
HATER SVC/MAY
25.96
la2m SVC/MAY
11.72
MATEA SVC/MAY
13.84
HATER SVC/MAY
17.00
WROM SVC/MAY
17.00
Iam SVC/MAY
17.00
lam SVC/MAY
167.98
Nam SVC/MAY
16.68
MUTER SVC/MAY
22.04
URTU SVC/MAY
324.02
HATER SVC/MAY
439.38
IOITaR SVC/MAY
28.76
HATER SVC/MAY
417.54
MRTZR SVC/MAY
27.64
WATER SVC/MAY
6/29/94 18811
COACHELI.A VALLEY WATER
7,339.22
31.00
MUTER SVC/MAY
209.69
QU PURCH/MRY
6/29/94 18827
GABCARD INC - 30D16
504.50
224.81
am PURCH/MAY
50.59
ZRRIGATIOH PARTS
247.83
FMILIZER
268.91
IRRIG CLOCK REPAIR
6/29/94 18829
HIGH TECH IRRIGATION INC
593.43
26.10
IRRIGATION PARTS
4.00
ELEC SVC/MAY
4.00
ELEC SVC/MAY
1,244.70
ELEC SVC/MAY
14.51
ELEC SVC/MAY
4.92
ELEC SVC/MAY
11.28
ELEC SVC/MAY
16.13
ELEC SVC/MAY
15.31
ELEC SVC/MAY
45.21
ELEC SVC/MAY
137.33
ELEC SVC/MAY
4.00
ELEC SVC/MAY
14.51
ELEC SVC/MAY
11.28
ELZC SVC/MAY
4.00
EIM SVC/MAY
155.91
ZLZC SVC/MAY
10
133U4 6/29/94 WARRANT
ACTIVITY BY
FUND
PAGE 5
DATE WARRANT PAYEE
CHECK
AMOUNT
ENCUMB DESCRIPTION
NUMBER
AMOUNT
NUMBER
27.80
RISC SVC/MAY
8.05
ELEC SVC/MAY -
4.00
ELEC SVC/MAY
4.00
ELEC SVC/MAY
4.00
Z.EC SVC/MAY -
27.06
ELEC SVC/MAY
5.00
BLEC SVC/MAY
22.44
II.BC SVC/MAY
9.53
ZLZC SVC/MAY
18.75
ELEC SVC/MAY
6/29/94 18833 IMPERIAL IRRIGATION DIST.
1,827.38
9.66
ELEC SVC/MAY
6/29/94 18834 INDIO SHOE STORE
172.40
172.40
STEEL TOE BOOTS
6/29/94 18837 KENS AUTO REPAIR
20.76
20.76
VEHICLE REPAIRS
6/29/94 18845 PACIFIC EQUIP IRRIGATION
23.27
23.27
MOWER BLADE
6/29/94 18851 SMART & FINAL
40.38
40.38
CAN LINKERS
6/29/94 18857 SUSKI 6 SAK MI MOWERS AND
34.48
34.48
TRI24MER STRING
-------- TOTAL CITY-WIDE ASSESSMENT DIST 89
$10,744.01
88-1 AGENCY FUND
3,520.30
JUDICIAL FORECLOSURE SVC
2,590.00
JUDICIAL FORECLOSURE SVC
6/29/94 18842 MUNI FINANCIAL SERVICES
6,566.38
456.08
ASSMNT DIST ADMIX
-------- TOTAL 88-1 AGENCY FUND
$6,566.38
89-2 AGENCY FUND
4,324.94
JUDICIAL FORECLOSURE SVC
5,250.00
JUDICIAL FORECLOSURE SVC
100.00
JUDICIAL FORECLOSURE SVC
6/29/94 18842 MUNI FINANCIAL SERVICES
10,255.58
580.64
ASSMNT DIST ADMIN
-------- TOTAL 89-2 AGENCY FUND
$10,255.58
90-1 AGENCY FUND
3,721.46
JUDICIAL FORECLOSURE SVC
2,870.00
JUDICIAL FORECLOSURE SVC
6/29/94 18842 MUNI FINANCIAL SERVICES
7,197.61
606.15
ASSMXT DIST ADMIX
-------- TOTAL 90-1 AGENCY FUND
$7,197.61
91-1 AGENCY FUND
100.00
JUDICIAL FORECLOSURE SVC
5,531.90
JUDICIAL FORECLOSURE SVC
5,040.00
JUDICIAL FORECLOSURE SVC
70.00
JUDICIAL FORECLOSURE SVC
6/29/94 18842 MUNI FINANCIAL. SERVICES
11,715.96
974.06
ASSMNT DIST ADMIN
-------- TOTAL 91-1 AGENCY FUND
$11,715.96
92-1 AGENCY FUND
4,123.78
JUDICIAL FORECLOSURE SVC
6/29/94 18842 MUNI FINANCIAL SERVICES
4,696.46
772.68
ASSMNT DIST ADMIN
-------- TOTAL 92-1 AGENCY FUND
$4,896.46
11
RDA DEBT SZRVICE FUND PA81
2,010.74 AIJWZPAGB mmms Svc
6/29/94 18942 MUNI FIN ANC L SERVIC88 4*321.50 2,310.76 Awaurm = RESATE SVC
-------- TOM RDA DN9T SEAVIQ FUND PA#1 $4,321.30 *
RDA CAPITAL PROJECTS PAM2
6/29/94 18841 MACldMIE i ASSOCIATES 860.83 $60.83 APPRAISAL SVC
2.98 Pur SVC/CTY/Cl= PROP IN
6/29/94 18850 RO8ZNOW SPEVACZX GROUP 1,151.50 1,148.52 PUN SVC/BUDGET/ACCOURTNO
-------- TOTAL RDA CAPITAL PROJECTS PA*2 $2,012.33 *
RDA LOW/MOD FUND PA42
1.05
PROM Svc/cTr/CNTY PROP IN
2,100.63
PROF SVC/HOUSING PLAN
405.36
PRE SVC/HUDGET/ACCOUNTNG
6/29/94 18050 R03MC W SPEVACES GROUP 3,702.54 1,275.50
PROF SVC/HOUSING PROD
-------- TOTAL RDA LOW/MOD FUND PAi2 $3,782.54
12
._.... __.... _... *V"Sun nwIv"sT. "w"Sime---------. 141 9AC AA it*
TOTAL DEMANDS - 6/29/94 WRFJUUM
TOTAL DEMANDS - 6/16/94 WARRAM
6/17/94 PAYROLL
TOTAL DEMANDS - CITY FUNDS
PAYROLL
TOTAL CITY FUNDS
TOTAL DEMANDS - RDA FUNDS
GRAND TOTAL DEMANDS
261,246.44
33,582.72
55,238.55
350,067.71
194,695.51
55,238.55
--------------
249,934.06
100,133.65
--------------
350,067.71
pmftmmMmw
13
COUNCIL/RDA MEETING DATE: July 19, 1994
ITEM TITLE:
Demand Register - July 19, 1994
RECOMMENDATION:
Approval of Demand Register.
BACKGROUND & OVERVIEW:
Prepaid Warrants:
18867-18888)
18790-92,18864-6618890-91)
P/R 10304-10363)
Payable Warrants:
18893-18984)
FISCAL IMPLICATIONS:
Demand of Cash - City
$ 117,983.74
31,854.39
55,054.55
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
City Demands $ 751,487.29
1,423,066.71 RDA Demands $ 876,472.10
$1,627,959.39 $1,627,959.39
$ 751,487.29
Richard Parzonko, finance Director
ATTACHMENT
GL24U4 7/01/94
WARRANT REGISTER
PAM 1
DATE OF
WARRANT
IN FAVOR OF
CE =
AMOUNT EXCUMB
DESCRIPTION
ISSUE
NUMBER
AMOUNT
Nag
/01/94
18867
ABET , JACQUES
100.00
100.00
PLANNING COMM MTNG ATTEND
7/01/94
18868
ADOLPH, DON
100.00
100.00
PLANNING COMG! MTNG ATTEND
55.89-
BEALTS INSURANCE 7/94
1.54-
VISION INSURANCE 7/94
300.00
MONTHLY SALARY JULY 94
250.00
MONTHLY AUTO COMP 7/94
7/01/94
18069
BANGERTER, GLENDA L
692.57
200.00
ADA AUTO A PHONE COMP
7/01/94
18870
BARROWS,RATIE
100.00
100.00
PLANNING COMM MTNG ATMZD
7/01/94
18871
BROWN, DIANA
50.00
50.00
INVESTMNT ADVSRY BRD MTNG
7/01/94
18872
CALIFORNIA, STATE OF
2,784.97
2,784.97
SAT P/R 7/1/94
7/01/94
18873
ELLSON, MARION
100.00
100.00
PLANNING COMM MTNG ATTEND
7/01/94
18874
GILREATH, HELEN T
50.00
50.00
INVESTMT ADVSRY BRD MTNQ
7/01/94
18875
ICMA RETIREMENT TRUST-457
1,947.50
1,947.50
MOWU i2a COMP P/R 7/1/94
7/01/94
18876
LA•QUINTA CHAMBER OF
45,000.00
45,000.00
CHAMBER COMM SVC 94/95
7/01/94
18877
LA QUINTA CITY EMPLOYEES-
275.00
275.00
EMP DUES P/R 7/1/94
7/01/94
18878
LEWIS, TOM
50.00
50.00
INVZSTMNT ADVSRY BRD MTNG
2.00-
PERS 1959 SUR BENFT
55.89-
HEALTH INSURANCE 7/94
1.54-
VISION INSURANCE 7/94
300.00
MOl"MY SALARY JULY 94
250.00
MONTHLY AUTO COMB 7/94
7/01/94
18879
MC CARTREY, MICHAEL
690.57
200.00
RDA AUTO i PHONE COMP
48.36
SURVIVOR BNFT P/R 7/1/94
7/01/94
18880
P.E.R.S.
13,698.51
13,650.15
PERS P/R 7/1/94
55.89-
HEALTH INSURANCE 7/94
1,000.00
MONTHLY SALARY JULY 94
250.00
MONMY AUTO COMP 7/94
7/01/94
18881
PENA, JOHN
1,394.11
200.00
ADA AUTO i PHONE COMP
300.00
MONTMY SALARY JULY 94
250.00
MONTHLY AUTO COMP 7/94
7/01/94
18882
PERICINS, RONALD A.
750.00
200.00
RDA AUTO i PHONE COMP
7/01/94
18883
PRINCIPAL MUTUAL
36,394.50
36,394.50
MALTH INS 7/1/94
7/01/94
18884
RIVERSIDE COUNTY EMP.
12,063.00
12,063.00
CREDIT UNION P/R 7/1/94
7/01/94
18885
SALES, HRUCE F
50.00
50.00
INVSSTMHT ADVSRY BRD MTNG
2.00-
PERB SURVR BNFT 7/94
55.89-
8SAL TH INSURANCE 7/94
1.54-
VISION INSURANCE 7/94
300.00
MONTHLY SALARY JULY 94
250.00
MONTHLY AUTO COMP 7/94
7/01/94
18886
SNIFF, STANLEY
690.57
200.00
RDA AUTO A PHONE COMP
7/01/94
18887
UNITED WAY OF THE DESERT
98.50
98.50
UNITED WAY 7/1/94
7/01/94
18888
VISION SERVICE PLAN
903.94
903.94
VISION INS 7/1/94
--------
----- GRAND TOTAL DEMANDS---------
117,983.74 **
2
3L33U4 7/01/94
WARRANT
ACTIVITY BY
FUND
PAGE 1
DATE
WARRANT
PAYEE
CHECK
AMOUNT
ENCUMB DESCRIPTION
NUMBER
AMOUNT
NUMBER
-11ERAL FUND
7/01/94
18867
ABELS, lAcQuEs
100.00
100.00
PLANNING COMM MTNG ATTEND
7/01/94
18868
ADOLPH, DON
100.00
100.00
PLANNING COMM MTNG ATTEND
300.00
MONTHLY SALARY JULY 94
250.00
MONTHLY AUTO COMP 7/94
55.89-
HEALTH INSURANCE 7/94
7/01/94
18869
HANGER TER , GLENDA L
492.57
1.54-
VISION INSURANCE 7/94
7/01/94
18870
BARROWS,RATIE
100.00
100.00
PLANNING COMM MTNG ATTEND
7/01/94
18871
BROWN, DIANA
50.00
50.00
INVESTMNT ADVSRY BRD MTNG
7/01/94
18872
CALIFORNIA, STATE OF
2,784.97
2,784.97
SWT P/R 7/1/94
7/01/94
18873
ELLSON, MARION
100.00
100.00
PLANNING COMM MTNG ATTEND
7/01/94
18874
GILREATH, HELEN T
50.00
50.00
INVESTMNT ADVSRY BRD MTNG
7/01/94
18875
ICMA RETIREMENT TRUST-457
1,947.50
1,947.50
DEFERRED COMP P/R 7/1/94
7/01/94
18877
LA QUINTA CITY EMPLOYEES'
275.00
275.00
EMP DUES P/R 7/1/94
7/01/94
18878
LEWIS, TOM
50.00
50.00
INVESTMNT ADVSRY BRD MTNG
300.00
MONTHLY SALARY JULY 94
250.00
MONTHLY AUTO COMP 7/94
55.89-
HEALTH INSURANCE 7/94
1.54-
VISION INSURANCE 7/94
7/01/94
18879
MC CARTNEY, MICHAEL
490.57
2.00-
PEPS 1959 SUR BENFT
13,650.15
PEW P/R 7/1/94
7/01/94
18880
P.E.R.S.
13,698.51
48.36
SURVIVOR BNFT P/R 7/1/94
1,000.00
MONTHLY SALARY JULY 94
250.00
MONTHLY AUTO COMP 7/94
'01/94
18881
PENA, JCHN
1,194.11
55.89-
HEALTH INSURANCE 7/94
300.00
MONTHLY SALARY JULY 94
7/01/94
18882
PERKINS, RONALD A.
550.00
250.00
MONMY AUTO COMP 7/94
7/01/94
18883
PRINCIPAL MUTUAL
36,394.50
36,394.50
8RALTH INS 7/1/94
7/01/94
18884
RIVERSIDE COUNTY EMP.
12,063.00
12,063.00
CREDIT UNION P/R 7/1/94
7/01/94
18885
SALES, BRUCE F
50.00
50.00
INVESTMNT ADVSRY BRD MTNG
300.00
MONTHLY SALARY JULY 94
250.00
MONTHLY AUTO COMP 7/94
55.89-
EXALTS INSURANCE 7/94
1.54-
VISION INSURANCE 7/94
7/01/94
18886
SNIFF, STANLEY
490.57
2.00-
PXPS SURVR BNFT 7/94
7/01/94
18867
UNITED WAY OF TEE DESERT
98.50
98.50
UNITED WAY 7/1/94
7/01/94
18888
VISION SERVICE PLAN
903.94
903.94
VISION INS 7/1/94
--------
AL GENERAL FUND
$71,983.74
RDA CAPITAL IMPROVEMENTS PAN1
7/01/94
18869
BANGERTER, GLENDA L
93.35
93.35
RDA AUTO & PHONE COMP
7/01/94
18876
LA QUINTA CHAMBER OF
21,015.00
21,015.00
CHAMBER COMM SVC 94/95
7/01/94
18879
MC CARTNEY, MICHAEL
93.35
93.35
RDA AUTO & PHONE COMP
7/01/94
18881
PENA, JOHN
93.35
93.35
RDA AUTO & PHONE COMP
7/01/94
18882
PERKINS, RONALD A.
93.35
93.35
RDA AUTO & PHONE COMP
7/01/94
18886
SNIFF, STANLEY
93.35
93.35
RDA AUTO & PHONE COMP
--------
TOTAL
RDA CAPITAL IMPROVEMENTS PAN
$21,481.75 *
-
"DA LOW/MOD FUND
PANT
7/01/94
18869
BANGERTER, GLENDA L
40.00
40.00
RDA AUTO & PHONE COMP
7/01/94
18876
LA QUINTA CHAMBER OF
9,000.00
9,000.00
CHAMBER COMM SVC 94/95
7/01/94
18879
MC CART'NEY, MICHAEL
40.00
40.00
RDA AUTO & PHONE COMP
3
/01/94
188$1 PEXA, JOWL
40 04
40.00
RDA AUTO C PBOU COMP
7/01/94
16882 PERKINS, RONALD A.
40.00
40.00
RDA mm i PRE COMP
7/01/94
ISM SIRFP, STAt.SY
40.00
40.00
RDA AUTO i PRORE COMP
---••----
TOTAL RDA LOW/NOD FUND PA81
$9,200.00
RDA CAPITAL PROJECT8 PA82
7/01/94
18662 SANGERTER, GLEMDA L
46.65
46.65
RDA AUTO i PSOlM COMP
7/01/94
18676 LA QUINTA CBAMBER OF
10,485.00
10,485.00
CR M BER COMM SVC 94/95
7/01/94
18879 MC CARTNEY, MICHAEL
46.65
46.65
RDA AUTO i PHONE CCU
7/01/94
18881 PENA, ion
46.65
46.65
RDA AUTO i PHONE COMP
7/01/94
18882 PERKINS, RONALD A.
46.65
46.65
RDA AUTO i PH= COMP
7/01/94
18886 SNIFF, STANLEYY
46.65
46.65
RDA AUTO i PHONE COMP
--------
TOTAL RDA CAPITAL PROJECTS PAM2
$10,718.25
RDA LOW/MOD FUND PAN2
7/01/94
18869 HANGERTER, GLENDA L
20.00
20.00
RDA AUTO i PHONE COMP
7/01/94
18876 LA QUINTA CBAMBER OF
4,500.00
4,500.00
CUMBER COMB SVC 94/95
7/01/94
18879 MC CARTNEY, MICBAEL
20.00
20.00
RDA AUTO i PHONE COMP
7/01/94
18881 PENA, JOHN
20.00
20.00
RDA AUTO A PHONE C010
7/01/94
18882 PERKINS, RONALD A.
20.00
20.00
RDA AUTO 4 PHONE COMP
7/01/94
18896 SNIFF, STANLEY
20.00
20.00
RDA AUTO 4 PHONE CCU
--------
TOTAL RDA LOW0100 FUND PAM2
$4,600.00 •
-----
----- GRAND TOTAL DEMANDS---------
117,983.74 **
4
GL24U4 7/13/94
WARRANT R E G I S T E R
PAGE 1
DATE OF
WARRANT
IN FAVOR OF
CHECK
AMOUNT
ENCUMB DESCRIPTION
ISSUE
NUMBER
AMOUNT
NUMBER
6/28/94
18790*
RIVERSIDE CO RECORDERS OF
78.00
78.00
NOTICE DETERM CUP 94-014
6/28/94
18791*
ROBERTS ATTORNEY, MARC
13,980.00
13,900.00
LITIGATION SETTLEMENT
6/29/94
18792*
PETTY CASH
256.79
256.79
PETTY CASH REIMB
6/29/94
18864*
HOME DEPOT
643.81
643.81
REDWOOD SIGN POSTS
6/29/94
18865*
EMERSON AND, KIM
14,500.00
14,500.00
ART WORK/FRITZ BURNS PARK
6/30/94
18866*
PETTY CASH
624.99
624.99
PETTY CASH REIMB
7/01/94
18890*
KABUSHIKI KAISHA MARUKO
1,695.80
1,695.80
SSNZOR CNTR RENT/DULY 94
7/05/94
18891*
BEACHSIDE CAFE
75.00
75.00
COUNCIL DINNER
7/13/94
18893
A AND S COFFEE SERVICES
131.00
131.00
COFFEE SUPPLIES
7/13/94
18894
ACE ALTERNATOR
118.43
118.43
BATTERY
15.31
BOLTS/SCREWS/STENCILS
30.82
CEMENT/SOIL
51.29
BOSE/NOZZLE/SPRAY
7/13/94
18895
ACE HARDWARE
102.50
4.08
BATTERY
7/13/94
18896
ARROW PRINTING COMPANY
82.97
82.97
CORRECTION NOTICES
69.05
AIRFILTER
51.20
OIL
7/13/94
18897
BIG A AUTO PARTS
140.68
20.43
AIRFILTER
2,169.71
PROF SVCS/RANCHO LA QUINT
824.00
PROF SVCS/INCO
1,751.00
PROF SVCS/PLOT 91-456
7/13/94
18898
BSI CONSULTANTS INC
9,144.71
4,400.00
PROF SVCS/89-1
7/13/94
18899
BUILDING NEWS INC
8.75
8.75
SHIPPING/PUBLICATION
7/13/94
18900
CADET UNIFORM SUPPLY
112.23
112.23
UNIFORMS
7/13/94
18901
CAL PRESERVATION FOUNDATN
100.00
100.00
CPF MEMBERSHIP
7/13/94
18902
CHANEY COMPANY, GEORGE H.
21,591.05
21,591.05
PROF SVC/INSPECTIONS
7/13/94
18903
CHARLES OWEN MFG.
501.30
501.30
3035 EMERGENCY BLANKETS
7/13/94
18904
CITY OF PALM SPRINGS
260.00
260.00
MUNICIPAL CODE BOOKLETS
40.84
PORTFOLIO
7/13/94
18905
COACHELLA VALLEY
42.46
1.62
FORMS
7/13/94
18906
COACHELLA VALLEY LAND
4,nT.03
4,311.03
RDA AFRDABLE HOUSING EXP
7/13/94
18907
COACHELLA VALLEY WATER
239.20
239.20
WATER SVC/MAY
7/13/94
18908
COACHELLA VALLEY WATER
33,456.52
33,456.52
SEWER COLLECTION 90-1
7/13/94
18909
COMPUTER RESOURCES INC
123.91
123.91
RECHARGABLE BATTERIES
7/13/94
18910
CONRAD 6 ASSOCIATES
2,519.00
2,519.00
CASH FLAW SCHEDULES
7/13/94
18911
DALES, JEAN M.
79,209.90
79,209.90
JEFFERSON/AVE 48 PROPERTY
7/13/94
18912
DE MARTINO, LOUIS
15,951.00
15,951.00
CMC CENTER ART
918.01
ADV/CIVIC CONCERT SERIES
7/13/94
18913
DESERT SUN, THE
3,206.98
2,288.97
LEGAL ADVERTISING
7/13/94
18914
DOUBLE PRINTS 1 HOUR PHOT
20.75
20.75
PHOTOS
47,981.07
SENIOR CENTER CONST
7/13/94
18915
DUNPHY, JAMES T
93,600.22
45,619.15
SENIOR CENTER SITEWORK
7/13/94
18916
EARTH SYSTEMS CONSULTANTS
697.00
697.00
PROF SVCS/SENIOR CENTER
7/13/94
18917
F.A.MURPHY TRUSTEE OF THE
105,613.20
105,613.20
JEFFERSON/AVE 48 PROPERTY
532.00--
TTLE INS/52425 EISENHOWER
496.00
TILE INS/53175 AVE OBREGO
446.00
TILE INS/53880 AVE NAVARO
471.00
TILE INS/53540 AVE CARRAN
385.00
TILE INS/53495 AVE HERRER
7/13/94
18918
FIRST AMERICAN TITLE INS.
2,765.00
435.00
TILE INS153205 AVE NAVARR
7/13/94
18919
GARNER IMPLEMENT CO.
118.70
118.70
SCRAPER CUTTING EDGE
7/13/94
18920
GASTON, GINGER
23.07
23.07
MILEAGE/G GASTON
7/13/94
18921
GATEWAY 2000
26,550.86
26,550.86
3032 PENTIUM COMPUTER SYS
2,128.19
PHONE SVC/JUN
63.42
Psam SVC/APR
5
GL24U4 7/13/94 WARRANT R E G I S T E R PAGE 2
DATE OF WARRANT IN FAVOR OF
ISSUE NUMBER
7/13/94 18922 GENERAL TELEPHONE
7/13/94 18923 GRANITE CONSTRUCTION CO
7/13/94 18924 GUZMAN,HECTOR
7/13/94 18925 HARRIS 6 ASSOCIATES
7/13/94 18926 HIGH TECH IRRIGATION INC
7/13/94 18927 HINDERLITER DE LLAMAS
7/13/94 18928 HOARD INC, BUGH
7/13/94 18929 IBM CORPORATION 5T4
7/13/94 18930 IMPERIAL IRRIGATION
7/13/94 18931 IMPERIAL IRRIGATION DIST.
7/13/94 18932 INDIAN WELLS GLASS
7/13/94 18933 IOWA TRUST RECEIVERSHIP
7/13/94 18934 JUDICIAL DATA SYS CORP
7/13/94 18935 KANO PRODUCTS
7/13/94 18936 KELLY TEMPORARY SERVICES
7/13/94 18937 KEN KO INC
7/13/94 18938 KICAK AND ASSOCIATES
7/13/94 18939 LA CELLULAR TELEPHONE CO
7/13/94 18940 LANE, PATRICIA M.
7/13/94 18941 LOCK SHOP INC, THE
7/13/94 18942 LOW MOD
7/13/94 18943 LOW MOD 1
7/13/94 18944 M K CAMERA 6 PHOTO
7/13/94 18945 MALONEY INC, T I
7/13/94 18946 MCDOWELL AWARDS
7/13/94 18947 MENTONE TURF SUPPLY
7/13/94 18948 MINUTEMAN PRESS
7/13/94 18949 MUNICON
7/13/94 18950 MURPHY TRUST, F.A. A H.P.
7/13/94 18951 NATIONAL BUSINESS MACHINE
7/13/94 18952 OWEN, ROBERT A
7/13/94 18953 PALM DESERT COUNTRY CLUB
7/13/94 18954 PENA, JOHN
7/13/94 18955 PERDUE, LEN
7/13/94 18956 PRINTING PLACE, THE
7/13/94 18957 PROF SERVICE INDUSTRIES
7/13/94 18958 PROFESSIONAL BUSINESS
CHECK
AMOUNT
2,223.04
18,796.58
49.30
11,400.00
719.63
300.00
166.37
1,651.04
8,122.68
26.63
50.00
107,020.00
100.00
297.93
851.20
195,670.84
22,068.75
999.73
79,209.90
13.47
95.15
95.15
58.45
30,908.71
226.84
17,816.52
108.48
3,202.62
264,033.00
270.29
250.00
75.00
104.56
55.00
91.59
5,363.00
160.63
7/13/94
18959
RIVERSIDE COUNTY SHERIFFS
136,846.21
7/13/94
18960
RIVERSIDE, COUNTY OF
70.00
7/13/94
18961
RSVP
2,048.00
7/13/94
18962
SIMON CO, JAMES E
3,186.00
7/13/94
18963
SMITH, MARILYN
139.49
AMOUNT
31.43
18,796.58
4.50
44.80
11,400.00
28.06
605.12
11.56
74.89
300.00
166.37
1,651.04
8,122.68
26.63
50.00
107,020.00
100.00
297.93
851.20
195,670.84
22,068.75
998.73
79,209.90
13.47
95.15
95.15
58.45
30,908.71
226.84
950.00
5,536.50
7,663.94
1,000.00-
4,666.08
108.48
3,202.62
264,033.00
270.29
250.00
75.00
25.84
78.72
55.00
91.59
1,388.00
2,549.00
1,010.00
1,415.00
160.63
2,428.80
134,417.41
70.00
2,048.00
3,186.00
139.49
ENCUMB DESCRIPTION
NUMBER
PHONE SVC/JUN
WHITEWATER/WASH ST BRIDGE
USA DIG ALERT SEMINAR
MILEAGE/H GUZMAN
PROF SVCS/SNR CNTR
CONST MARRING PAINT
PVC PIPE
IRRIGATION PARTS
LANDSCAPE SUPPLIES
SALES TAX AUDIT
AIR COND REPAIR
COMPUTER PRINTER MAINT
El -EC SVC CONNECT/SNR CNTR
ELEC SVC/JUN
PLEXIGLASS/DISPLAY CASE
MARSHALLTOWN - LA QUINTA
PARKING CITATIONS/MAY
WASHERS/NUTS/SCREWS
CONTRACT LABOR
92-1 PHASE V COVE IMP
PROF SVCS
PHONE SVC/JUN
JEFFERSON/AVE 48 PROPERTY
SEWER HOOK-UP SUBSIDY
SEWER HOOK-UP SUBSIDY
PHOTOS
ENGINEERING FEES/FRITZ HU
Ems PLATES
LANDSCAPE MAINT
LANDSCAPE REPAIRS
LANDSCAPE MAINT/JUN
BASIN NOT MAINTAINED
LANDSCAPE MAINT
REGISTRATION CARDS
TRAVEL/CONSULTING AGREEMT
JSPPERSON/AVE 48 PROPERTY
IMPAIR HP LASER JET PRNTR
ASSESSMENT DELINQUENCY
IEC HALL RENT/EXERCISE CL
WSTM MGMT MNGRS MTNG/PENA
MILEAGE/J. PENA
APPRAISAL REPORT
BUSINESS CARDS
PROF SVCS/ASSMNT DIST/WTR
PROF SVCS/ASSMNT DIST/SWR
PROF SVCS/ASSMNT DIST/STS
PROF SVCS/PRAT 93-08
OFFICE SUPPLIES
BOOKING FEES/MAY 94
LAW ENFORCEMENT/MAY
PARKING VIOLATIONS SURCHG
RETIRED SNR VOLUNTR PROG
WESTWRD HO/INDIAN SPNGS
MILEAGE/ M SMITH
1-2
G2;24u4 7!1!/!!4
W it
3
DATE (W
WANs
Ia FB,vto OP
CSCIsD
R19"Mt�lf
ISSUE
ANCIUXT
xumm
7/13/94
189"
814MM, DOMMLDA
60.00
60.00
eint cat ARCB/CAAFTS INST
7/13/94
1696S
BOUND Ima
120,40
126.40
CIL DIM LIGM
7/13/94
ISO"
SpAjmLrm
127.32
127.32
DRZMXZM WAXIA
2*40
-m
132.13
/S SPUR
7/13/94
10967
SPZER,STEVEN D
207.04
72.11
Wr III R/W 11CgUISTICK
125.47
FMM/LABSLB/SMARS
90.06
ms8
65.06-
asTVRtc-FILES
96.92
C"lCE SUPPLIES
7/13/94
18968
STEVBS OFFICE SUPPLY
240.41
13.02
ROAMING FOLDERS
20,806.00
LZOAL SVC/GZNERAL
5,007.52
LEGAL SVC/SURKE'PP
20,479.32
LZQL SVC/WYMSR/IZM
94.50
LEGAL SVC/CABLE FRANCHISE
12,127.44
LEGAL SVC/PRINERIT BANK
35.20
LEGAL SVC/DESERT GARDENS
7/13/94
18969
STRADLING YOCCA CARLSON
65,965.48
7,435.50
LEGAL SVC/PORTER
7/13/94
18970
T D C WASRINGTON/ADAMS
19,360.13
19,360.13
CONST WELL 05712
7/13/94
18971
TAFT GROUP, THE
112.67
112.67
Fa GUIDE TO HUMAN SVCS
7/13/94
18972
TAYLOR AND S0N8, STEVE
225.00
225.00
CLEAN LOTS
296.31
SLOCICADE SHEETING
7/13/94
18973
TOPS i BARRICADES INC
487.84
191.53
STRIPING PAINT
7/13/94
18974
TRI-LAKE CONSULTANTS
14,712.00
14,712.00
PROP SVC/PHASE V COVE IMP
7/13/94
18975
VALLEY OFFICE EQUIPMENT
57.00
57.00
COPIER MAINT
390.39
CLIPS/DESK PADS/NOTEBOOKS
32.89
DZSR PAD
7/13/94
18976
VIKING
637.75
214.47
FILING CABINETS
4.99
COUNCIL DINNER
15.36
SNR CNTR POTLUCK
7/13/94
18977
VOWS
25:33
5.38
FII1d
25.77
SNR CNTR ARTS/CRAFTS SUPP
55.77
PLOODLIGHTS
5.36
CONFUTER PAPER
7/13/94
18978
WAL-MART STORES INC
729.20
642.30
rux
7/13/94
18979
WALLING i MCCALLUM ASSOC.
750.00
750.00
PROF SVC/SNR CNTR
7/13/94
18980
WASTE MGMNT OF THE DESERT
145.55
145.55
PORTABLE TOILETS/JULY 94
7/13/94
18981
WASTE MGMT OF THE DESERT
1,041.70
1,041.70
5/16/94 FRANCHISE ADJ
7/13/94
18982
WELCH'S UNIFORM RENTAL
35.95
35.95
MATS
7/13/94
18983
WINSTON TIRE COMPANY
9.85
9.65
TIRE REPAIR
7/13/94
18984
xM= CORPORATION
1,304.29
1,304.29
COPIER MAINT
SUB TOTAL DEMANDS
1,454,921.10
*'
7/1/94 DEMANDS
117,983.74
-'
7/l/94 PAYROLL
55p054.55
GRAND TOTAL DDWM
1,627►959.39
7
GL33U4 7/13/94
WARRANT
ACTIVITY BY
FUND
PAGE 1
DATE
WARRANT
PAYEE
CBECR
AMOUMTT
ENCUMB
DESCRIPTION
NUMBER
AMOUNT
NUMBER
GENERAL FUND
6/28/94
18790*
RIVERSIDE CO RECORDERS OF
78.00
78.00
NOTICE DETERM CUP 94-014
6/28/94
18791*
ROBERTS ATTORNEY, MARC
13,980.00
13,980.00
LITIGATION SETTLEMENT
5.95
PETTY CASH REIMB
9.63
PETTY CASH REIMB
15.00
PETTY CASH REIMB
11.47
PETTY CASH REIMB
24.00
PETTY CASH REIM
89.50
PETTY CASH REIN
41.32
PETTY CASH REIMB
18.19
PETTY CASH REIMS
6/29/94
18792*
PETTY CASH
239.85
24.79
PETTY CASH REIMB
148.21
PETTY CASH REIMB
35.50
PETTY CASH REIM
39.57
PETTY CASH REIMB
162.70
PETTY CASH REIMB
62.24
PETTY CASH REIN
59.22
PETTY CASH REIM03
43.00
PETTY CASH REIMB
38.27
PETTY CASH REIMB
6/30/94
18866*
PETTY CASH
624.99
36.28
PETTY CASH REIMB
7/01/94
18890*
RABUSHIKI RAISHA MARURO
1,695.80
1,695.80
SEMIIOR CNTR RENT/DULY 94
7/05/94
18891*
BEACHSIDE CAFE
75.00
75.00
COUNCIL DINNER
7/13/94
18893
A AND S COFFEE SERVICES
131.00
131.00
COFFEE SUPPLIES
7/13/94
18895
ACE HARDWARE
4.08
4.08
BATTERY
7/13/94
18896
ARROW PRINTING COMPANY
82.97
82.97
CORRECTION NOTICES
1,272.85
PROF SVCS/RANCHD LA QUINT
882.85
PROP SVCS/RANCHO LA QUINT
14.01
PROF SVCS/RANCHO LA QUINT
824.00
PROF SVCS/INCO
1,030.00
PROF SVCS/PLOT 91-456
7/13/94
18898
BSI CONSULTANTS INC
4,744.71
721.00
PROF SVCS/PLOT 91-456
7/13/94
18899
BUILDING NEWS INC
8.75
8.75
SHIPPING/PUBLICATION
7/13/94
18900
CADET UNIFORM SUPPLY
33.40
33.40
UNIFORMS
7/13/94
18901
CAL PRESERVATION FOUNDATN
100.00
100.00
CPF MEMBERSHIP
7/13/94
18902
CHANEY COMPANY, GEORGE H.
17,410.88
17,410.88
PROF SVC/INSPECTIONS
7/13/94
18903
CHARLES OWEN MFG.
501.30
501.30
3035
EMERGENCY BLANXETS
7/13/94
18904
CITY OF PALM SPRINGS
260.00
260.00
MUNICIPAL CODE BOOXLETS
40.84
PORTFOLIO
7/13/94
18905
COACHELLA VALLEY
42.46
1.62
FORMS
7/13/94
18909
COMPUTER RESOURCES INC
123.91
123.91
RECHARGABLE BATTERIES
7/13/94
18910
CONRAD 6 ASSOCIATES
1,284.69
1,284.69
CASH FLOW SCHEDULES
918.01
ADV/CIVIC CONCERT SERIES
1,898.44
LEGAL ADVERTISING
7/13/94
18913
DESERT SUN, THE
3,206.98
390.53
LEGAL ADVERTISING
7.66
PHOTOS
7/13/94
18914
DOUBLE PRINTS 1 HOUR PHOT
20.75
13.09
PHOTOS
11.36
MILEAGE/G GASTON --
7/13/94
18920
GASTON, GINGER
23.07
11.71
MILEAGE/G GASTON
3,792.98
3032
PENTIUM COMPUTER SYS
3,792.98
3032
PENTIUM COMPUTER SYS
3,792.98
3032
PENTIUM COMPUTER SYS
3,792.98
3032
PENTIUM COMPUTER SYS
7/13/94
18921
GATEWAY 2000
26,550.86
11,378.94
3032
PENTIUM COMPUTER SYS
8
GL33U4 7/13/94
WARRANT
ACTIVITY BY
FUND
PAGE 2
DATE
WARRANT
PAYEE
CHECK
AMOUNT
ENCUMB DESCRIPTION
NUMBER
AMOUNT
NUMBER
31.43
PHONE SVC/JUN
63.42
PHONE SVC/APR
34.16
PHONE SVC/JUN
7/13/94
18922
GENERAL TELEPHONE
2,223.04
2,094.03
PEON B SVC/JUN
44.80
MILEAGE/H GUZMAN
7/13/94
18924
GUZMAN,HECTOR
49.30
4.50
USA DIG ALERT SEMINAR
7/13/94
18926
HIGH TECH IRRIGATION INC
28.06
28.06
CONST MARKING PAINT
7/13/94
18927
HINDERLITER DE LLAMAS
300.00
300.00
SALES TAX AUDIT
7/13/94
18928
HOARD INC, HUGH
166.37
166.37
AIR COND REPAIR
7/13/94
18929
IBM CORPORATION 5T4
1,651.04
1,651.04
COMPUTER PRINTER MAINT
7/13/94
18933
IOWA TRUST RECEIVERSHIP
107,020.00
107,020.00
MARSHALLTOWN - LA QUINTA
7/13/94
18934
JUDICIAL DATA SYS CORP
100.00
100.00
PARKING CITATIONS/MAY
425.60
CONTRACT LABOR
7/13/94
18936
KELLY TEMPORARY SERVICES
851.20
425.60
CONTRACT LABOR
376.69
PHONE SVC/JUN
7/13/94
18939
LA CELLULAR TELEPHONE CO
998.73
522.04
PHONE SVC/JUN
5.39
KEYS
7/13/94
18941
LOCK SHOP INC, THE
13.47
8.08
KEYS
7/13/94
18946
MCDOWELL AWARDS
226.84
226.84
BRASS PLATES
7/13/94
18948
MINUTEMAN PRESS
108.48
108.48
REGISTRATION CARDS
7/13/94
18949
MUNICON
3,202.62
3,202.62
TRAVEL/CONSULTING AGREEMT
7/13/94
18951
NATIONAL BUSINESS MACHINE
270.29
270.29
REPAIR HP LASER JET PRNTR
7/13/94
18953
PALM DESERT COUNTRY CLUB
75.00
75.00
REC HALL RENT/EXERCISE Cl
25.84
WSTS MGMT MNGRS MTNG/PENA
7/13/94
18954
PENA, JOHN
104.56
78.72
MILEAGE/J. PENA
7/13/94
18955
PERDUE, LEN
55.00
55.00
APPRAISAL REPORT
7/13/94
18956
PRINTING PLACE, THE
91.59
91.59
BUSINESS CARDS
100.25
OFFICE SUPPLIES
12.31
OFFICE SUPPLIES
7/13/94
18958
PROFESSIONAL BUSINESS
160.63
48.07
OFFICE SUPPLIES
-
2,428.80
BOOKING FEES/MAY 94
7/13/94
18959
RIVERSIDE COUNTY SHERIFFS
136,846.21
134,417.41
LAW ENFORCEMENT/MAY
7/13/94
18960
RIVERSIDE, COUNTY OF
70.00
70.00
PARKING VIOLATIONS SURCHG
7/13/94
18961
RSVP
2,048.00
2,048.00
RETIRED SNR VOLUNTR PROG
74.37
MILEAGE/ M SMITH
7/13/94
18963
SMITH, MARILYN
139.49
65.12
MILEAGE/ M SMITH
7/13/94
18964
SMOLENS, DONNALDA
60.00
60.00
SNR CNTR ARTS/CRAFTS INST
7/13/94
18965
SOUND IMAGE
128.40
128.40
COUNCIL DIAZ LIGHTS
68.10
DRINKING WATER
16.00
DRINKING WATER
7/13/94
18966
SPARKLEZTS
127.52
43.42
DRINKING WATER
2.80
RCTC-TAR MTNG
7/13/94
18967
SPEER,STEVEN D
134.93
132.13
MILEAGE/S SPEER
125.47
FILES/LABELS/SHEARS
96.92-
OFFICE SUPPLIES
90.08
FILES
13.02
EXPANDING FOLDERS
7/13/94
18968
STEVES OFFICE SUPPLY
240.41
85.08-
RBTURN-FILES
7,435.50
LEGAL SVC/PORTER
11,058.83
LEGAL SVC/WYMER/ITM
20,806.00
LEGAL SVC/GENERAL
5,007.52
LEGAL SVC/BURKETP
94.50
LEGAL SVC/CABLE FRANCHISE
12,127.44
LEGAL SVC/PRIMERIT BANK
7/13/94
18969
STRADLING YOCCA CARLSON
56,564.99
35.20
LEGAL SVC/DESERT GARDENS
9
t
6L,3t4 :7/13/#4
rzft BY
10116,111SAM3
cm
mNwmrf
NCR
:;u
. ; ,
'Allow :Aimm
7/13I94
18971
TUT WoUp, TOR
112.67°r, .
, "`.; 112.67
FR Quin TO HUMAN Seca
7/13/94
18072
TAYLOA AM am, env,
223.00
225.00
CLxhx LOTS
7/13/94
18975
vALm #rnCX ggolpliM>
$7.00
57.00
COO MAINT
390.39
CLZPB/D PADS/002220OK8
214.47
Pium CABINS s
7/13/94
19976
VIE36
637.75
32.89
ma PAD
4.99
COMIL DINNER
15.36
8NR CNTA POTLUCK
7/13/94
'18977
VORS
23.73
5.39
fun
25.77
SNR CNTR ARTS/CRAFTS SUPP
642.30
FILM
7/13/94
18978
WAL-MART STORES INC
723.84
55.77
FLOODLIGHTS
7/13/94
18991
WASTE MGMT OF THE DESERT
1,041.70
1,041.70
5/16/94 FRANCHISE ADJ
7/13/94
18982
WELCH'S UNZYM N RENTAL
35.95
35.95
MATS
7/13/94
18983
WINSTON TIRE COMPANY
9.85
9.05
TIRE REPAIR
46.25
COPIER MAINT
907.77
COPIER MAINT
304.02
COPIER MAINT
7/13/94
18984
XEROX CORPORATION
1,304.29
46.25
COPIn MAINT
--------
TOTAL
GENERAL FUND
$389,453.40
STATE GAS TAX FUND
6/29/94
18864*
HOMM DEPOT
643.81
643.81
REDWOOD SIGN POSTS
43.05
LOTERY
7/13/94
18824
ACE ALTERNATOR
118.43
75.38
BATPERY
7/13/94
18895
ACM HARDWARE
16.31
16.31
BOLTS/SCREWS/STENCILS
69.05
AIRFILTER
20.43
AIRFILTER
7/13/94
18897
BIG A AUTO PARTS
115.08
25.60
OIL
7/13/94
18900
CADET UNIFORM SUPPLY
41i29
43.29
UNIFORMS
7/13/94
18919
GARNER IMPLEMENT CO.
118.70
118.70
SCRAPER CUTTING EDGE
7/13/94
18935
KANO PRODUCTS
297.93
297.93
WASHERS/NUTS/SCREWS
296.31
BLOCKADE SHEETING
7/13/94
18973
TOTS i BARRICADES INC
487.64
191.53
STRIPING PAINT
--------
TOTAL STATE GAS TAX FUND
$1,841.39
COMMUNITY PROJECT FUND
7/13/94 18945 MALONEY INC, T I 30,908.71 30,908.71 ENGINEERING FEES/FRITZ BU
-------- TOTAL COMMUNITY PROJECT FUND $30,908.71 *
CITY-WIDE ASSESSMENT DIST 89-1
51.29---
HOSE/NOZZLE/SPRAY
7/13/94
18895
ACE HARDWARE
82.11
30.82
CEMENT/SOIL
7/13/94
18897
BIG A AUTO PARTS
25.60
25.60
OIL
7/13/94
18898
BSI CONSULTANTS INC
4,400.00
4,400.00
PROF SVCS/89-1
7/13/94
18900
CADET UNIFORM SUPPLY
35.54
35.54
UNIFORMS
7/13/94
18907
COACHELLA VALLEY WATER
239.20
239.20
WATER SVC/MAY
605.12
PVC PIPE
11.56
IRRIGATION PARTS
7/13/94
18926
HIGH TECH IRRIGATION INC
691.57
74.89
LANDSCAPE SUPPLIES
7/13/94
18931
IMPERIAL IRRIGATION DIST.
26.63
26.63
ZINC SVC/JUN
7/13/94
18932
INDIAN WELLS GLASS
50.00
50.00
PLEXIGLASS/DISPLAY CASE
10
:33U4 7/13/94
DATE WARRANT PAYEE
NUMBER
WARRANT ACTIVITY BY FUND PAGE 4
CHECK AMOUNT ENCUMB DESCRIPTION
AMOUNT NUMBER
7,663.94
1,000.00-
950.00
2,333.04
2,333.04
7/13/94
18947 MENTONE TURF SUPPLY
17,816.52
5,536.50
7/13/94
18978 WAL-MART STORES INC
5.36
5.36
7/13/94
18980 WASTE MGMNT OF THE DESERT
145.55
145.55
--------
TOTAL CITY-WIDE ASSESSMENT DIST 89
$23,518.08
INFRASTRUCTURE FUND
47,981.07
7/13/94
18915 DUNPHY, JAMES T
93,600.22
45,619.15
601.00
7/13/94
18916 EARTH SYSTEMS CONSULTANTS
697.00
96.00
7/13/94
18925 HARRIS & ASSOCIATES
11,400.00
11,400.00
7/13/94
18930 IMPERIAL IRRIGATION
8,122.68
8,122.68
7/13/94
18979 WALLING & MCCALLUM ASSOC.
750.00
750.00
--------
TOTAL INFRASTRUCTURE FUND
$114,569.90 *
ASSESSMENT DISTRICT 90-1
7/13/94
18908 COACHELLA VALLEY WATER
33,456.52
33,456.52
--------
TOTAL ASSESSMENT DISTRICT 90-1
$33,456.52 *
ARTS IN PUBLIC PLACES
6/29/94
18865* EMERSON AND, KIM
14,500.00
14,500.00
7/13/94
18912 DE MARTINO, LOUIS
15,951.00
15,951.00
--------
TOTAL ARTS IN PUBLIC PLACES
$30,451.00 *
89-2 AGENCY FUND
7/13/94
18952 OWEN, ROBERT A
125.00
125.00
--------
TOTAL 89-2 AGENCY FUND
$125.00 *
90-1 AGENCY FUND
7/13/94
18952 OWEN, ROBERT A
125.00
125.00
--------
TOTAL 90-1 AGENCY FUND
$125.00 *
RDA CAPITAL IMPROVEMENTS PAwl
7/13/94
18910 CONRAD & ASSOCIATES
780.89
780.89
10,945.00
183,225.84
7/13/94
18937 KEM INC
195,670.84
1,500.00
632.50
18,956.25
7/13/94
18938 KICAK AND ASSOCIATES
20,838.75
1,250.00
7.97
23.54
7/13/94
18944 M K CAMERA & PHOTO
58.45
26.94
1,388.00
11
LANDSCAPE MAINT/JUN
BASIN NOT MAINTAINED
LANDSCAPE MAINT
LANDSCAPE MAINT
LANDSCAPE MAINT
LANDSCAPE REPAIRS
COMPUTER PAPER
PORTABLE TOILETS/JULY 94
SENIOR CENTER CONST
SENIOR CENTER SITEWORK
PROF SVCS/SENIOR CENTER
PROF SVCS/SENIOR CENTER
PROF SVCS/SNR CNTR
ELEC SVC CONNECT/SNR CNTR
PROF SVC/SNR CNTR
SEWER COLLECTION 90-1
ART WORK/FRITZ BURNS PARK
CIVIC CENTER ART
ASSESSMENT DELINQUENCY
ASSESSMENT DELINQUENCY
CASH FLOW SCHEDULES
92-1 PHASE V COVE IMP
92-1 PHASE V COVE IMP
92-1 PHASE V COVE IMP
PROF SVCS _..
PROF SVCS
PROF SVCS
PHOTOS
PHOTOS
PHOTOS
PROF SVCS/ASSMNT DIST/WTR
GL=4 7/13/94
Ar
DATA waritm PAM
rimm
7/13/94
18957
P%W 3=jLcB INDUSTRIES
4,947.00
7/13/94
18969
STRADLING YOCCA CARLSON
9,420.49
.1
7/13/94
18974
TRI-LAKE CONSULTANTS
• 14,712.00
--------
TOTAL RDA CAPITAL IMPROVEMENTS PA#
$246,428.42
RDA LOW/MOD FUND
PA81
7/13/94
18906
COA►CHELLA VALLEY LAND
4,311.03
7/13/94
18910
CONRAD i ASSOCIATES
100.76
7/13/94
16911
DALES, JEAN M.
33,752.21
7/13/94
18917
F.A.MTRPHY TRUSTEE OF THE
45,002.95
7/13/94
18918
FIRST AMBRICAN TITLE INS.
2,763.00
7/13/94
18940
LANE, PATRICIA M.
33,752.21
7/13/94
18942
LOW MOD
95.15
7/13/94
18943
LOW MOD 1
95.15
7/13/94
18950
MURPHY TRUST, F.A. i H.P.
132,507.37
--------
TOTAL RDA LOW/MOD FUND PA41
$232,381.83
RDA CAPITAL PROJECTS PAi2
6/29/94
18792*
PETTY CASH
16.94
7/13/94
18902
CHANEY COMPANY, GEORGE H.
4,180.17
7/13/94
18910
CONRAD i ASSOCIATES
277.09
7/13/94
18911
DALES, JEAN M.
45,457.69
7/13/94
18917
F.A.MURPHY TRUSTEE OF THE
60,610.25
7/13/94
18923
GRANITE CONSTRUCTION CO
18,796.58
7/13/94
18938
KICAK AND ASSOCIATES
1,230.00
7/13/94
18940
LANE, PATRICIA M.
45,457.69
7/13/94
18950
MURPHY TRUST, F.A. A B.P.
151,525.63
7/13/94
18957
PROF SERVICE INDUSTRIES
1,416.00
7/13/94
18962
SIMON CO, JAMES E
3,186.00
7/13/94
18967
SPEER,STEVEN D
72.11
7/13/94
18970
T D C WASBINGTON/ADAMS
19,360.13
--------
TOTAL
RDA CAPITAL PROJECTS PAN2
$351,586.28 *
RDA LOW/MOD FUND
PAM2
7/13/94
18910
CONRAD 6 ASSOCIATES
75.57
--------
TOTAL
RDA LOW/MOD FUND PAi2
$75.57 *
--------
-----
GRAND TOTAL DEMANDS---------
1,454,921.10 **
llu3 5
ENCUND DESCRIPTION
NUMBER
1,010.00
P" SVCS/ASSMN'P DIET/STS
2,549.00
PON SVCS/ASSMff DIST/SWR
9,420.49
LPL SVC/WYMZR/ITM
10,322.00
Paw SVC/PBASB-Y COVE IMP
4,320.00
PRSr SVC/PHASE v COME IMP
3,541.20
RDA AFRDABLE HOUSING EXP
769.83
RDA AFRDABLE HOUSING EXP
100.76
CABR FLAW SCHEDULES
33,752.21
JUTERSON/AVE 48 PROPERTY
45,002.95
JEFFERSON/AVS 48 PROPERTY
4".00
TTLB INS153880 AVE NAVARO
532.00
TTLE INS/52425 SISFM30WER
496.00
TPLZ INS/53175 AVE OBREGO
471.00
TTLB INS/53540 AVE CARRAN
365.00
TTLB INS/53495 AVE HERRER
435.00
TTLE INS/53205 AVE NAVARR
33,752.21
JIFFERSON/AVE 48 PROPERTY
95.15
alm HOOK-UP SUBSIDY
25.15
S$WER HOOK-UP SUBSIDY
112,507.37
JXFFBRSON/AVE 48 PROPERTY
16.94
PETTY CASH REIMB
4,180.17
PROF SVC/INSPECTIONS
277.09
CASH FLOW SCHEDULES
45,457.69
JEFFERSON/AVE 48 PROPERTY
60,610.25
JSFFERSON/AVE 48 PROPERTY
18,796.58
WHITEWATER/WASH ST BRIDGE
1,230.00
PR7F SVCS
45,457.69
JBFFERSON/AVE 48 PROPERTY
151,525.63
JHFFERSON/AVE 48 PROPERTY
1,416.00
PROF SVCS/PROJ 93-08
3,186.00
WESTWRD HO/INDIAN SPNGS
72.11
HWY 111 R/W ACQUISTION
19,360.13
CONST WELL #5712
75.57 CASH FLAW SCHEDULES
12
TOTAL DEMANDS - 7/13/94 WARRANTS 1,454,921.10
TOTAL DEMANDS - 7/1/94 WARRANTS 11'7,963.74
7/1/94 PAYROLL 55054.55
1,627,959.39
TOTAL LOWDS - CITY FUNDS 696,432.74
PAYROLL 55,054.55
10TAL CITY FUNDS 751,487.29
TOTAL DEMANDS - RDA FUNDS 876,472,10
GRAND TOTAL DEMANDS 1,627,959.39
13
RECEIv�a
Keeping Trac
The Tracs Newsletter
Thus far this year, m
dominating debate has centered
question of inflation. The
perception of whether
inflation will pose a problem
in the future has created the
ii
push and pull effect that has
been to blame for so much of
the volatility in the markets.
It also caused the Fed to
tighten in a manner not
experienced in recent times.
In the past, the growth of our
economy . usually also
contained a surge of
inflation. - This inflation was usually the
result of a fully employed labor force
which through full employment, were able to
ask for and -.receive higher wages. These
higher costs of production were then passed
on to the consumer in the form of higher
prices which fueled inflation. So too in the
past, much of what people wanted was
produced in the U.S. This demand led to
producers being able to raise unit prices.
Today, production is
occurring all over the
world and this
competition is
ke
eping in prices low.
P g
Therefore, absent cost
and wage pressure,
what we have is nice
sustainable economic
growth without the
inflationary pressures
of the past~ As more
countries boost
nit
production and as more companies downsize,
or where technology replaces a certain sector
of the labor force, inflationary pressures
AUG 'Al 1994
A Timely Review of Current Market (:oAil@&s. jPain.a Cash Managers
by Jeffery B. Flynn
of the remain subdued. I
around the were applied before
Of
NFLATIONca
August 1994
n short, old models that
the U.S. became a part
a global economy, now
rry less applicability and
may actually distort the
picture of what is really going
If the past several
nonth's volatility served any
aurpose, it was to flush
complacent leverage and
)eculation from the
markets. But I think that
after some order and
price stability return, the Street will sit back
and assess just what all of the inflationary
panic was all about and they will realize that
the U.S. is playing a different role in the
world economy than even 10 years ago.
THE ECONOMY
The relation of inventories and
productivity is significant and we can look
bAl t le
ac jus a coup
of
years to some
e xam les Back in
*i#1
the 4th Quarter of
w w an
92 e sa
`ro.csas
explosive period of
`auk
xP
con sum
P
tion. Th e
;:: ri x W.
Clinton mandate
or chan
ge ha
d d
f
g
everyone but Bus
h
and Perot feeling
re good and
b
pen
t demand
P PY
the consumer caused a big increase in
spending both on a quarterly and yearly
comparison. But later in the 1st Q. of '93 the
The Tracs Corporation, 165 South West Temple Suite 300. Salt Lake City, UT 8.1101. (8001288-722
consumer turned cautious. Companies that
cranked up production to meet demand,
found themselves sitting with full shelves of
inventories that took 2 Quarters to work off.
As a result, growth in the first half of 93 was
about flat. Low mortgage rates by mid
year and successes by Clinton cr
a wave of consumer euphoria a
again culminated in a 4th
GDP surge of 6.2%.
(downward revised from
7.0%.)
This recent 2nd Q '94
GDP number with much of it
going to inventories, sugge
that the 3rd Q '94 will see fu
slowing. Higher mortgage r
g Fall
peak in consumer confidence,
elections, world wide political distractions,
and a Japanese trade stalemate are not the
and
types of things that instill confidence hat the
euphoria. At this writing, I doubt
consumer will be as dramatic in , their
.. 'y4 as the
spending in the 4tn <1 y were in n
previous two years.
Auto sales probably peaked in the 2nd
Chrysler
Q'94 as companies like GM and the
posted record earnings. Prior to this year,
pearl
average age of automobiles owned wasboom
10 years. Conversely, the housing
which lasted for
three quarters,
slowed dramatically
with a 2 point rate
reversal in the long
bond and mortgage
rates.
THE FED
This recent
GDP number
probably has the Fed wondering about
another rise in the Fed funds. The inventory
component has me re -thinking my feeling last
-a move
eated -,,�
nd4. d
� y
sts
-'_ s
rther :� whe
ates ate`'
' Znd Q
month about the likelihood of seeing a 5%
Fed funds rate this year. My guess now is
that the Fed will make one last stab at raising
rates 1/4 point just as a final stand against
inflation. But they may have to look hard the
some economic indicators that justify
the
. So too, the fervor over
ollar/yen divergence has waned
nd less pressure exists for the
Fed to act for the dollar's
benefit alone.
As I stated earlier, the
Street will. be closely
monitoring the consumer
spending statistics for signs of
lowing as confirmation as to
ther the inventory build up in the
was a trend or an abberation. My
guess is that July's numbers will begin to point
to a decline in consumer participation. If the
Fed wants to raise rates another 1/4 point
they had better do so before too much more
data is released.
THE YIELD CURVE
Prior to the release of the 2nd Q GDP
numbers, the yield on the 3 month T-Bill the
trading well above 4 1/2% largely because
Street was thinking that the Fed could raise
rates by a half point if the GDP numbers
were strong. That move could have take
V°a fivnd z to 4 3/4%. When the
inventory issue
surfaced, the whole
yield curve fell as
:oncerns over
r a m a t i c Fed
I t e r v e n t i 0 n
,aporated. The long
)ond price rose by
nearly 2 points
after the news and
marked a weicomea reversal of sentiment
in the bond crowd.
But if you look at the spreads between
— 2 —
the current Treasuries
between 0-5 years,
you see a fairly steep
curve formation.
4.40% on 3 month bills
out to a 6.77% yield on
the 5 year. Beyond 5
years, the incremental
advantage to extend is
greatly reduced. 6.77% on
the 5 year, only 6.80% on
the 7 year and 7.13% for the
10 year. That's only a pick up
of 36 basis points for a 5 year
extension and only 3 beeps for a 2
year extension from 5 to 7 years.
Normally, when we have
reached a peak in an economic cycle,
an inverted curve existed where the
demand for cash or severe Fed
tightening pushed rates for short term
funds to higher levels than for
longer term money. It may be
that our membership in the
New World Economy may
have ended the massive swings
in short term rates and
perhaps ended the days of the
inverted yield curve. And
while this recent sharp rise in
the Fed funds rate of 125 beeps M.
seems dramatic because of its
speed and tedious quarter point
enactment, do you also remember
the days of 9 or 10% Fed funds? A
return to those levels seems unlikely
given a modest_ 3% level of GDP
growth. Because there are more
participants and a greater level of
international competition, run away rates
may be a thing of the past. Our strong 4th
Q performances were due largely to domestic
demand, not foreign export. This is not to
say that higher rates can't come as a result of
problems like debt or default as has occurred
in places like Brazil or Mexico. But I think
that our rate
reversal seems
o v e r l y
traumatic
=- because we
were getting a
little ahead of
ourselves when
y discussion about
2% T-Bills or 5%
long bonds became
common lace.
--- P
GOING FORWARD
At this writing(which is
something I have to use because
the markets move so much), June
new home sales fell by nearly 15%.
Sales have slowed to a 2 year low
which is a direct result of mortgage
rates rising in the months preceding.
I believe that the purchasing
managers index hit some recent
record in June. If you take into
account the record auto sales
reported for the 2nd Q, it app- ars
as though the economy might
have hit a business cycle high
sometime in June. If this
week's unemployment number
rises from July's data, this
observation could be more
credible.
ail
Other positive signs of
strength are likely to pop up here
and there which would counteract
the slow down theory and cause
some talk of further Fed rate hikes.
The push and pull effect of
contradicting economic releases is
sure to create some volatility but
the pessimistic tone of the fixed
income markets has mellowed
with the release of the inventory
laden 2nd Q GDP numbers.
- 3 -
INVESTMENT WISE
Prior to the recent release of 2nd Q
GDP and the continuation of moderate
inflation, a possible half point Fed fund rate
rise was looking likely. At this point, even
another quarter _point hike is suspect given
the numbers. What a difference a week
makes.
With the current 3 month T-Bill yield
at 4.45%, the Street is bidding the Bills as
though they see or want another quarter point
Fed fund rate hike. If or when that were to
occur, the yield on the 3 month Bill should
move to the same yield of 4 1/2%. So at
current there is a risk of 5 basis points in
owning the 3 month Bill now versus waiting
for another Fed fund rate hike. The 6 month
Bill yield would probably be similarly effected
and the 9-12 month Bills a little less.
That isn't nearly the risk to entering
the markets as before last week when a 50
basis point risk existed due to a possible Fed
funds rate hike. The 2 year note yield is at
6% and has backed off about 20 basis points,
also shedding its rate hike fear premium.
While I feel fairly confident that the
worse in rate increases is over near term,
there may be some lingering surprises that
surface. However, I believe the risks are less
than at any time since February and that
about a half of available investment dollars
could now be placed in the 0-5 year area of
the curve
Until now, I have urged that you slowly
feather in smaller amounts but feel that more
aggressive purchases can finally be made
because of the climb in the armor that the
durables issue raises. We will be closely
watching all consumer related indicators for
confirmation.
— at —
This newsletter is an informational service provided by the Tracs Corporation. It is intended for the private use of its current and prospective clients. Information contained here -
represents the opinion of The Tracs Corporation. Fixed -income investments are subject to market and interest -rate risk and should always be purchased to hold to maturity.