1999 12 21 FA� T
V jyyy��� S
OF iNtiO
La Quinta
Financing Authority
Agenda
CITY COUNCIL CHAMBER
78-495 Calle Tampico
La Quinta, California 92253
December 21, 1999 - 2:00 P.M.
CALL TO ORDER
Beginning Res. No. FA 99-03
a. Roll Call
Board Members: Adolph, Henderson, Perkins, Sniff, Chairperson Pena
PUBLIC COMMENT
CONFIRMATION OF AGENDA
APPROVAL OF MINUTES
a. Approval of Minutes of August 3, 1999
CONSENT CALENDAR
1. TRANSMITTAL OF THE TREASURER'S REPORT DATED OCTOBER 31, 1999.
2. APPROVAL OF ANNUAL CONTINUING DISCLOSURE FOR THE LA QUINTA FINANCING
AUTHORITY 1996 LEASE REVENUE REFUNDING BONDS FOR FISCAL YEAR END JUNE 30,
1999.
BUSINESS SESSION - None
DEPARTMENT REPORTS
TRANSMITTAL OF REVENUE AND EXPENDITURES REPORT DATED OCTOBER 31, 1999.
CHAIR AND BOARD MEMBERS' ITEMS
PUBLIC HEARINGS - NONE
ADJOURNMENT
DECLARATION OF POSTING
I, June S. Greek, Secretary of the La Quinta Financing Authority, do hereby declare that
the foregoing agenda for the La Quinta Financing Authority meeting of December 21, 1999
was posted on the outside entry to the Council Chamber, 78-495 Calle Tampico and on the
bulletin board at the La Quinta Chamber of Commerce on Friday, December 17, 1999
Dated: December 17, 1999
June S. Greek, Secretary
La Quinta Financing Authority
Page 2
T4ht 4 4 Q"
AGENDA CATEGORY:
BUSINESS SESSION:
COUNCIL/RDA MEETING DATE: December 21, 1999 CONSENT CALENDAR:
ITEM TITLE:
STUDY SESSION:
Transmittal of Treasurer's Report PUBLIC HEARING:
as of October 31, 1999
RECOMMENDATION:
Receive and file.
BACKGROUND AND OVERVIEW:
Transmittal of Treasurer's Report dated October 31, 1999 for the La Quinta Financing
Authority.
FINDINGS AND ALTERNATIVES:
I certify that this report accurately reflects all pooled investments and is in compliance
with California Government Code Section 53645 as amended 1 /1 /86; and is in
conformity with City Code 3.08.010 to 3.08.070 Investment of Money and Funds.
I hereby certify that sufficient investment liquidity and anticipated revenues are
available to meet next month's estimated expenditures.
espe fully submitted:
hn M. Falco er, Finance Director
Approved for submission by:
Thomas P. Genovese, City Manager
Attachment: Treasurer's Report, La Quinta Financing Authority
T4ht 4 4 Q"
MEMORANDUM
TO: La Quinta City Council
FROM: John M. Falconer, Finance Director/Treasurer
SUBJECT: Treasurer's Report for October 31, 1999
DATE: December 1, 1999
Attached is the Treasurer's Report for the month ending October 31, 1999. The report is submitted to
the City Council each month after a reconciliation of accounts is accomplished by the Finance Dept.
The following table summarizes the changes in investment types for the month:
lInvestment Beginning Purchased i Sold/Matured i Other Ending Change
(Cash (1) 1
$200,960
$940,458
1,141,418
$940,458
LAIF
11,348,346
691,653
850,000
11,189,999 i
(158,347)
IUS Treasuries (2) !
14,066,046
0
0
(13,354)
14,052,692
(13,354)
JUS Gov't Agencies (2)
17,584,905
0
0
43,543
17,628,448
43,543
(Commercial Paper
0
0
0
0 f
0
(Mutual Funds
9,454,386
0
433,688
9,020,698
(433,688)
Total
$52,654,643
$691,653
$1,283,688
$970,647
' $53,033,255 i
$378 612
I certify that this report accurately reflects all pooled investments and is in compliance with the California
Government Code; and ins in conformity with the City Investment Policy.
As Treasurer of the City of La Quinta, I hereby certify that sufficient investment liquidity and anticipated
revenues are available to meet the pools expenditure requirements for the next six months. the City of
La Quinta used the Bureau of the Public Debt, U.S. Bank Monthly Statement and the Bank of New York
Monthly Custodian Report to determine the fair market value of investments at month end.
Falconerl
Director/Treasurer
D to
Footnote
(1) The amount reported in the other column represents the net increase (decrease) of deposits and
withdrawals from the previous month.
(2) The amount reported in the other column represents the amortization of premium/discount for the
month on US Treasury and Agency investments.
�! i
FQ-
z
J
LL
O
F
U
c
I
i
O
I Gl', : N.
I O I I p.
I (D
IOC'.
'',Z.
w
c
su
p
i d
d N
c c
IZ IZ'.
Z
'.Z
`
Z
W
N
a
o ba
ja,
c
v'n y,
lal
�Z..'IA
Q
Ci
Zu
LU
U
�LLI iLL
A
a o 0
G m al
f I
If1J
Q c C-
'm
A
ma
rn c
E
X A
m'
ISM
I
Imo.
a,'a
m
;y
Ni
C C
IN
N
IM
IN
�
1.0
Iol I0i
'U w o
w
V
t0
c
0
cI ici
I I
< ° ac COLI`w>'
>
`wI I`wI
!
`Lv)E`o
I
obi
a��
W
O C)cLo
v C D
Ia D'
a�
Hi11 I t9
>O .0
v �vI
N
z 6R ui GXi
Ila
c C
a
IoI Io
ImI io
IoI
IN
olo
c
Io
o
h
o
c
!¢'
u
(D �
I lo�
�N
m Iy,
ICI .
I(a
I
Ivl
A
I�!
v
to
, 1(0
c
',
I• I�
m
N
�
a
�j
"
0 �10
ae
�
` lo,
Io,
I��
I I
�
Cl)I�
O
I Io
I IV
� i'
lo;
o� IC)
II
.
I
E
> E
a
-.A o'
IeI
o
o
h
f e
ai
7
LOI o
co O I ;
I�'
�I I
u�
f,
Io
Ih
IA
C:,Z
j N
y d
c C
c
7
_
a b
I
OD IOI
IN 10:
�j� I�
I
�I !o,
!U)
GD.
Q
Imo'
I
.-
Q
o
IO
10
W
I(7
Q/
N
Q
IZi
I I Io
vo
C
7 7
-I IOI
if?
N
�o
00
I�
1�
p
o
IO
LL
OOI
IO
Q Q
INI IOI
INI
f7
110
IN
_
IO'�
r
r'I
E
5 E
I\ to
of �
e
e
o
aj
LL 'R
IW) IO
m� �1
h I
�I
U7
cc
I lZI
i
i
I
Ic
Ir
C'
I
U
15
o
I I(U!
I
I O�
(a
_ y
j y
IW O O
o
In'
i I
EMtZ
CU O
y�
iO
yI
O C N �M %
O O A o Z c
C
) O
I� U 0-
C
IG1j
y
'I
'E
c
E
Cc:,
O,
C9 m.om��
al N' c c N A
'�.O 7
Ia1
�O
v
I I y
m'
y 0 a N 'O m G1 0
I�IEI
la >
I U!
0
Vol
Imo'
LL EQ oymmcU
�mwa
n
E
°
yl
a rnw mN ° �� v
LL LL m M
O c 0
_
�, I C I
o o m
I� IM
Icl'I
I O I
LI
1
ZI
(C7 Z
E G7 O Ol C y
I
ILL
3
y a
I`I
L
O
y
I
u C
. Sc m ag r-
m "L
IGi
C
C
Ic A O
al
C
'NI
.N
_
fn:
U7U N U Cm m y
Y N cm
N% U
I4
�(u
E
c,C
O O
,y
�''
y
mi
of
m !
O (0
mo w- _ o c d o 0
A JmU v.J
Id
m
v
E
u N E
7
I
E
SI
p'
(m
y o m Z o w a E m
c' EcEyE
w
>
Ic
>
!E
mE
v;
rni
j
y
�I
�=cEZSJLLcx
E
c:
Isp�
IC I
mI
�yI
o° w 6 6 M A A A
o
a
IE o�
ImI
o
�e
cl
r
C9 y 7 »vvvvv
O
'_
L
Iu
y E UlL Li LLlL 11 tL
E
UO
C
Ip XCU
y G
j o
IU
m
d
J
I� W d
I C,
0 0 0 0
CO (O O .
U) V U)N
004
ƒ
!
ki{
j
k�(
1!(�I�c
� §
� f
(
0060'
tn'(�D• p
� pCC CI ONfiA
i
m. IN
INi
Epp
is th O toa0 N N r NIMi
LR.. ;�
CIE,
.�. N ,,
iMi
�n
co
N ap N T N N !� W'
N CO
iH ,(p.
iF laOjO..I W.
.p'.
C
'b9
N p .- v �1e09
IN
IN
IN'
ILLY iNl
IInA
'40
to
co
NIr NICD'
!
'
,N _M pp'�IN
ICD 0110'
N
.- (!,:
M
N
i
I
I
U
C
N
m
co
a6
M
�'
i
N
GE'aci E
E
d
It
C
C LL c I
a8
c (i c Ii
d
r
q
� M
LL c veEcc'
�rn
U
•aui =LL N LL E Igo �LL
L.L
o
c
c �a c c> c p°p
oci'
c� d
a
Ixa �� 2 �� acRea�$!
o
Uo0
o
to to IS Ie O c m 2jw'
too UOS>(n8U¢w-jF
T N
U
I$
I�
�I
is
I�
A
E
is
>
I
,Z
yIco S C-4 m
�DIV Of (D
OD
Cf (V a0
plr O
I`7 00 Io N
O
('N7�:
j
E i (pp8i rvi
-Sig
t(�pp
Oro
lt�Dy''
O (
IQ(Dn to
t`roA qn
C-4
's
WI t7 CO ari C 0
iQ i0pi � 0 1n
� �g'�.
IY9 C% c6 1�
MINI;,
CID co
< (p
'I OjISj
CIO -I'.
!���iO�pvl(Nol�
a�D
C'I-0I,.
N
,
m Z 0vd'L
c (p
m
tlMi
u
E °c' N
M Z^EEc
> O M
8 N oULLI, ,
m
a
ER'_'
�rD-I
ti
U U)i» a �I�I
NrOf0
N N O M co tNl Y
d N P< N O
c< N O Q O M to
N r W
01 .- M aO
ONr�(NO Mr
V n (O a0 !7 t In
Ia'tV N to cl U.)
m to OI S M(D
M
W M h
Q O
cv g N
'.Q tNo'00 M O OD.r�
M to Qf M -
NM
u:N�� �^
p �n{pp
I (2 (D to toOM�O
NN aO QN
Al MN
�Op r': IndOOfN
ILLi r� C
O N
N j�pQ �
i � Ck (NOitD..
='L (I a0N�cm Go
1c6'iO Ip N cq r*- t0 MI(o
rn v_
'SIN C' (
"Ism
I04
la!N n M W1�1.
I Elte O c N O
00 cq M
�OIU Oi vil
I li
9-0
OR
CEI I O f+f
< C
Z O tD N
pp �
�IO�Na
pppplM,
OIM11
�ItD g 9 m O
OI�I'.
m
�I
!IN O^ CVO
Eir- 000 0a —cSf O
Cl)
06
(q,.H 01 C c—'i
ItnDl Vij
f1M;
C11
MIN CO ONE cq
'
QI�
Z I W)
QQoo,,Io
OMj co
�I�a v r
Ia
MIv�
ly �
mi��
�I
NOOto
MIr
N I C m O
to zll
I' Io In aD
Ia
I
00 0
V
d
M tC�
C CD pp e)
M ooaooO,O U-)NM`'Cr)
OcMCO0a
N c N M C'
O e- •- Lc)
619 EA
w�Q° ��Q CD0)QQ'
p'ZOOOZ p'Z00ZZ
I- en eA r- O
O r- r- O N
�- I eo
R i 0 O N r' MCLI O O ego I C) ':
a cfl o Ln °' , ;- a- o 0 0 ! o0
�-0 -0) O N; 'trio 0 o O CCIe), �I
c'o C C C* cis o o C61ap o
i 0) co 10 '� O O M A I c*
0.Iy9 O IV IL to N V lv-j !H!'I
44
en U)
C C
N U)
.a
a otsCL CL CL LL a; ca CL CL CL Lf
_
oeres� >14rnccccCc
o �mU)� �v)cncn >
(D a�
� r
Q
rn
c
C
C
LL
d = m
U eA ! C eD C
y C
O
G D C.j
El m (L c
5 c_ c 'c ;_ �`c" c
C c 0'o0) ;d. � y y � d' <V y N Elm
° 0 cn w, E cn w' E a`' w E E 4)' tM
C'! O >r ca < c co iatSQ C U,'O, ma=p
-� E cUURu-'Ic E icUU�� c N; 'o c c NIWI
r0 E
U�O��.E>o tiL, ,u E
:=U > M O > a=lOi Ll
- QE I'o
cnUO Z'Uggg2ZIU2aAw1°1]I
007
t
HUH F
'AIM
i� b 0i
IO N
Jill;
$l5i
'q I
-14iN
I,,b�p�
U
LL
10
maoiEli
I
aa�
I
__II
pia as
I
CD
a LL ala
a!$
Ia a a ala;3
I p,
3''.
-l8l
S4
m
g
a
�2
u
�
UV�
Oom
ox
MW
y
« T
c R
> C
aQ
m O c
LL c
O L C
U U L
I m
I O C)
W Of qT
i 1
M
10
e-
_
IW.!
N (O W
Mto m OIN',
f0 {per l fO 11�
Go Q O) OIM 10,
Cl)
Q
IR 0
1)O
M M QIiD!
O M!Q'
M M M n aD Ii0 10
M a)�� �n
(p
IW
fW0
149.
IN
M NnN�-IQ'. 'M
!M
N
dl IW':
INi
d) Imo.
O'':
n O O MIN'i,
O) ice',
n Q co N IQ
n O
'�I
IN'•
IW'.
��,
e-
N
R ICN
W O to nlpp!
''. O L 117 fO ICI
f0 N
O W )O OIr-
W tO
toil
iOQD
O
W
NIN!
IO W'
n h O MIO
m l[) n NIWI
N Q N WIC,
Pi to v M
N Q N W IW
M
Q! IM
IW
1wm
M
W
IILi
N IR'-
N-!
I&:
N
-01
R pppi�'�
R
Ill O IWf) GIOf
n Q N� M
O Octl)f �O NIQ!i
NMI
IO..
CMI!
�'
jOi
CM
to
O
OINI
dNISI
of l0 O plN
C) IN
M O O {� N
N Q
a ICI
IN'.
IW.
ml�.l
O Irl
W O M
M N �Irl
O
M r 0) M NIA:
t01: (WI
14
jtW+).
W
N
ILL'! IQ'.
I
CID
p IO
MOOOOIcp
nv NOOD
O) W
A
IMI
10)
IWI
r
M
ly0
V
p
Olm
N
n 1 O
I QOO 0Q10
G
Wci
O Go ))f
M(O O_Q00)
MI
IA
INI
N M
t0
N n 01
�'
10
10
ILL
Q
N INO)1�
M 0I
I`
ICI
{O
9
la
o
coo $ 0 ao
m
n M )n to p
WI
Mj
W
�cc'
pp
O In
l n fO
IM
O Ci O O
m
IOOD_
ry lD N �QjI
n C
M rD N pNfI
WI
IM
IOD
m
p1�Im'I
ILL
la'
'0 ,
la l
(CN
n 0I � On)"f
01
ivl
IQ
M
Iwl Im'
y 10I1�.
INI
D OO
)OQ'
n
nnNN 1N
n f0 117
M1
�I
W'
Ipl
Ic+)
W
IRlol<o'
n to (O <nIW'
^n)nv_' f0
M !a
M OIIO
IW'
IW,
10)
W
W
COW O ID IA
NNC1) !
Cr) CO O_ 149:
NO Q In
I�
10!
1101
A
O
OLIO
Flo IIO:
In N N tO I�
CO O) N
Nj
IN'i
ICO'
N
IW:
'miN
MOONI
InnMM IMI
I1�.
IF
V �i0i
Q O co Q ItD (O
n to N �.,
(O W IA
(O O N Oal
O
10
ICI
I�'I
O
i
� �I�
Q N In NIW
O�i
.0 W M
Q O n
gl
IC I
Ih:
O', Oi
Iit[)V
•�- •-
N
Oil
INI
IOf
N
LL:
I
I0)IW;
l
IhIn
I I
II
IbC%LW
of
v(00pl
�mOROO'O
I0)
I
rD
I
cmcq, cm
.OR.lO
Q 101�b
'', O en W (y) W)
M Q N 01nIW
IMI
IQ
10.
N
I�IbI
N M In �lO
.- N N QICMI,
LNrI
N
hi
a
I
I I
l
l j
I
I
I
I
I
I
I I
�
I I
l
I I
I
II
i i
aci
I
E
L
I
I
y
W
l
'o
LI
U
RI
E R
� I I
~
k C
C V R
I
I
N
c) C
m`
y
NI
�
C,
L
L
y
X N ,
R O- y
aw_
:
U)
y
m
C
I R'I V dl
ci U 71 j
CO
y°o U'''hI
y lL C 4 0)C
yI
O
Q
ILi
y
GI
Il Ci 92 x >Ipl
1 '= y d
3 ai CCL
=p N W a d
d 1
N
O)I
L
1 C
F_
C
Q) y y
> A rn
rn
C
C
U
RC
! N G L d
y y=
a d L
R
O
Wl
L
LI
N
m
a1 aIt-18&
M 4))
wxrAnw5U0E-
z:
0
w
z
I� ICI IO
Icno0 oOo
iM IMI nO
ICI
U LI) U l
O'I NI 1 OI
f,) W
0)
� !O
j N O
IN U)
If-:
!N W
I i (WO
I�NO
LN
a
Ell
I
1°
ly!
R
c.
Q
of
y
lL
c7
ILA I R
I
r N
IUD
R L)
V 0
IC'
IA
0
cz
ayi
t
d
U
c c
O
R
> N
W x
�W
OOj
CITY OF LA QUINTA
CRY
CITY RDA
RDA FA
BALANCE SHEET 16I3l M
FIXED
LONG TERM FIXED
LONG TERM FINANCING LONG TERM
GRAND
CITY ASSETS
DEBT RDA ASSETS
DEBT AUTHORITY DEBT
TOTAL
ASSETS:
POOLED CASH
4,051,921.93
6,432,281.32
(994.24)
10.483.218.91
LORP INVESTMENT IN POOLED CASH
705.000.00
705,000.00
INVESTMENT T-BILLMOTES4:OTHER
25.000.000.00
26,000,000.00
AUTO MALL CASH
1,097,691.01
1.097.591.01
LORP CASH
44.507.0E
44.507.0E
BOND REDEMPTION CASH
367,454.19
28.73
367.492.92
BOND RESERVE CASH
BOND PROJECT CASH
14,064,990.78
566.224.89
14,653,215.47
BOND ESCROW CASH
PETTY CASH
1,000.00
1,000.00
CASH i INVESTMENT TOTAL 31,150,812.54
21.614.243.38
567,259.18
53.352.115.40
INVESTMENT IN LAND HELD FOR RESALE
ACCOUNTS RECEIVABLE
PREMIUMIDISCOUNT ON INVESTMENT
LORP-ACCOUNTS RECEIVABLE
INTEREST RECEIVABLE
LOAWNOTES RECEIVABLE
DUE FROM OTHER AGENCIES
DUE FROM OTHER GOVERNMENTS
DUE FROM OTHER FUNDS
DUE FROM RDA
INTEREST ADVANCE -DUE FROM RDA
ADVANCES TO OTHER FUNDS
NSF CHECKS RECEIVABLE
ACCRUED REVENUE
TRAVELADVANCES
EMPLOYEE ADVANCES
PREPAID EXPENSES 60,300.00 60 300 00
RECEIVABLE TOTAL 9,854,631.22 3.702.573.90 5,260,000.00 21.817.405.12
47.154.46
60.900.00
8,250,000.00 8.368.054.46
(322.664.78)
3.804.88
(318,959.92)
50.130.38
50.130.38
200,495.61
175,397.W
376.893,37
25.841.74
2,668,11M.80
2.694.692.54
127.984.00
127.984.00
795.357.14
741.656.90
1,527,014.04
6.8901277.20
6.890.277.20
1,317,980.34
1,317,980.34
719.105.62
719.1 W.82
2.021.49
2.021.49
SWA0
1133.40
978.00
978.00
WORKER COMPENSATION DEPOSIT 37,637.00
RENT DEPOSITS
UTILITY DEPOSITS 75.00
MISC. DEPOSITS 2.100.00
DEPOSITS TOTAL 39,812.00
37.637, 00
75.00
_ 2.1_00.00
39.812.00
GENERAL FIXED ASSETS 1.289.894.28 15,148,522.00 10,233,505.05 26,669,722.33
ACCUMULATED DEPRECIATION (585,380.27) (585,360.27)
AMOUNT AVAILABLE TO RETIRE L/T DEBT 3,395,117.03 3.395.117.03
AMOUNT TO BE PROVIDED FOR L/T DEBT 1,677,482.02 94,762,526.08 8,260,000.00 _ _ 104,_700.008.08
TOTAL OTHER ASSETS 704,334.01 15,146,522.00 1,677,482.02 10,233,506.05 98,157,643.09 8,250,000.00 134,179,487.17
TOTAL ASSETS 41.749.590.07 15,146,522.00 1,877,482.02 25,315,817.28 10.233.WS.05 96 157 643 09 8 847 259 18 8 260 000 00 20".388.819.8E
LIABILITY
ACCOUNTS PAYABLE
21,251.93
11.999.44 17.195.00
50.446.37
DUE TO OTHER AGENCIES
W5,873.88
$05.873.88
DUE TO OTHER FUNDS
575.00
1,517,134.04
9,306.00 1.527.014.04
INTEREST ADVANCE -DUE TO CITY
ACCRUED EXPENSES
PAYROLL LIABILITIES
43.388.02
43,386.02
STRONG MOTION INSTRUMENTS
2,820.48
2,111WAS
FRINGE TOED LIZARD FEES
19,640.00
19.640.00
SUSPENSE
129,128.81
129,128.81
DUE TO THE CITY OF LA QUINTA
PAYABLES TOTAL
1,022,876.12
11,999.44 1,534,329.04
9,305.00 2,578,309.60
ENGINEERING TRUST DEPOSITS
198.00
196.00
SO. COAST AIR QUALITY DEPOSITS
ARTS IN PUBLIC PLACES DEPOSITS
496,551.06
496.551.06
LORP DEPOSITS
15.064.00
15.004.00
DEVELOPER DEPOSITS
1,274,852.33
1,276,532.33
MISC. DEPOSITS
329.780.95
329,760.95
AGENCY FUND DEPOSITS
790,078.33
790,078.33
TOTAL DEPOSITS
2.393.440.67
15.054.00
2,906,504.67
DEFERRED REVENUE 5,270.67
8,250,0000.00 _
8.268_270.67
OTHER LIABILITIES TOTAL 8,270.67
8,250,000.00
6.268.270.67
COMPENSATED ABSENCES PAYABLE 337.680.36
337,680.86
DUE TO THE CITY OF LA QUINTA 1,327,601.72
9,200,257.34
9.S35,859.05
DUE TO COUNTY OF RIVERSIDE
12,466,237.00
12,466,237.00
DUE TO C.V. UNIFIED SCHOOL DIST.
10,058,148.75
10,086,148.75
DUE TO DESERT SANDS SCHOOL DIST.
BONDS PAYABLE
67,415,000.00
(504.08) 8,250,000.00
_ 75-674.495.92
TOTAL LONG TERM DEBT 1,865,492.58
98,157,643.09
(504.06) 8.260.000.00
108,082,621.59
TOTAL LIABILITY
EQUITY -FUND BALANCE
TOTAL LIABILITY i EQUITY
3,924,387.46
37,825,202.61 15.146.522.00
CASH i INVESTMENT TOTAL $3,352,11GAO
PREMIUMIDISCOUNT ON INVESTMENT I318.6M.921
TOTAL 63,033,256.48
1,677,482.02 1.649.393.04 98,157,643.09 8,255,800.92 8.260.000.00 121,837,706.63
23,787,424.24 10,233,506.05 578,468.25 87.561.113.16
ZW,31I8 M.09
---(0.00)
0lv.
T4ht 4 4 Q"
AGENDA CATEGORY:
BUSINESS SESSION:
COUNCIL/RDA MEETING DATE: December 21, 1999 CONSENT CALENDAR:
ITEM TITLE:
STUDY SESSION:
Approval of Annual Continuing Disclosure PUBLIC HEARING:
for the La Quinta Financing Authority
1996 Lease Revenue Refunding Bonds
for Fiscal Year End June 30, 1999
RECOMMENDATION:
Approve, receive and file the Annual Continuing Disclosure for the La Quinta
Financing Authority 1996 Lease Revenue Refunding Bonds for Fiscal Year End June
30, 1999.
FISCAL IMPLICATIONS:
None
CHARTER CITY IMPLICATIONS:
None
BACKGROUND AND OVERVIEW:
On November 10, 1994, the Securities and Exchange Commission adopted
amendments to existing federal regulations (Rule 15c2-12) for bonds issued after July
3, 1995, requiring issuers of municipal securities (Bond issues) to do the following
annually for each bond issue:
1. Prepare official statements meeting the content requirement of Rule
15c2-12.
2. File certain financial information and operating data with national and
state repositories each year.
3. Prepare announcements of the significant events including payment
defaults, defeasances and draws on a reserve fund as the events occur.
Attachment 1 is the 1998/99 Annual Continuing Disclosure Statement for the La
Quinta Financing Authority 1996 Lease Revenue Refunding Bonds Allocation Bonds
prepared in accordance with the three aforementioned requirements. Additionally, no
announcement of significant events was necessary for Fiscal Year 1998/99.
FINDINGS AND ALTERNATIVES:
The alternatives available to the City Council include:
1. Approve, receive and file the Annual Continuing Disclosure for the La Quinta
Financing Authority 1996 Lease Revenue Refunding Bonds for Fiscal Year End
June 30, 1999; or
2. Do not approve, receive and file the Annual Continuing Disclosure for the La
Quinta Financing Authority 1996 Lease Revenue Refunding Bonds for Fiscal
Year End June 30, 1999; or
3. Provide staff with alternative direction.
Respectfully submitted,
NO
Jahn M. Falcon&, Finance Director
Approved for submission by:
Thomas P. Genovese, City Manager
Attachment: 1. 1998/99 Annual Continuing Disclosure Statement for the
La Quinta Financing Authority
ATTACHMENT NO. 1
ANNUAL INFORMATION STATEMENT
FOR
FISCAL YEAR ENDED JUNE 30, 1999
1996 LEASE REVENUE REFUNDING BONDS
(LA QUINTA CITY HALL PROJECT)
LA QUINTA FINANCING AUTHORITY
CITY OF LA QUINTA
RIVERSIDE COUNTY, CALIFORNIA
004
LIST OF PARTICIPANTS
CITY OF LA QUINTA
* In its role as Disclosure Consultant and Dissemination Agent, MuniFinancial has not passed upon the accuracy,
completeness or fairness of the statements contained herein.
L INTRODUCTION
Pursuant to an Official Statement dated November 13, 1996 the La Quinta Financing
Authority (the "Authority") issued $8,790,000 1996 Lease Revenue Refunding Bonds (La
Quinta City Hall Project), (the "Bonds") to refinance the Authority's previously issued Local
Agency Revenue Bonds, Series 1991 (City Hall Project).
The City of La Quinta, (the "City") which comprises approximately 31.18 square miles, is
located in the Coachella Valley, twenty miles from Palm Springs and 127 miles from Los
Angeles.
The Bonds are payable solely from the lease payments relating to the La Quinta City Hall
Project, and amounts held in certain funds and accounts established under a trust agreement.
The City has covenanted to provide for the lease payments in its annual budget and to make
the necessary appropriation for such payments. However, the Bonds and the obligation of the
City to make lease payments does not constitute an obligation for which the City is obligated
to levy or pledge any form of taxation. Neither the Bonds nor the obligation of the City to
make lease payments constitutes an indebtedness of the City, the State of California or any
political subdivisions thereof within the meaning of any constitutional or statutory debt limit
or restriction.
This Annual Information Statement is being provided pursuant to a covenant made by the
City and the Authority for the benefit of the holders of the Bonds and includes the
information specified in a Continuing Disclosure Certificate. For further information and a
more complete description of the City, the Authority and the Bonds, reference is made to the
Official Statement.
00
II. BOND INFORMATION
A. PRINCIPAL OUTSTANDING
Bonds Balance as of October 30. 1999
1996 Lease Revenue Bonds $8,010,000
B. FUND BALANCES
Account Balance as of November 24. 1999
Reserve Fund (') N/A
(1) The Reserve Fund is funded by a Reserve Account Surety Bond issued by the MBIA Insurance Corporation.
III. FINANCIAL INFORMATION
The audited financial statements for the City for the Fiscal Year Ended June 30, 1999 will be
separately filed with the Nationally Recognized Municipal Securities Information Repositories
and are hereby incorporated by reference into this Annual Information Statement.
IV. OPERATING INFORMATION
A.
GENERAL FUND EXPENDITURES BY FUNCTION
Fiscal Year
Ending
General
Public
Public
Community
Planning &
Capital
— June 30
Government
Safety
Works
Service
Development
Projects
Total
1990
$1,514,110
$1,883,105
(1)
$928,798
(1)
s0 $4,326,012
1991
1,968,275
2,501,105
(1)
777,366
(1)
0
5,246,745
1992
1,921,155
2,155,813
$618,612
157,897
$904,171
11,813
5,769,461
1993
1,807,205
2,393,202
600,253
146,686
884,537
0
5,831,883
1994
2,359,673
2,786,575
673,144
119,265
511,416
0
6,450,073
1995
1,565,265
3,143,697
576,304
199,115
538,610
282,113
6,305,104
1996
1,793,301
3,227,438
813,352
413,142
453,656
201,475
6,902,364
— 1997
2,376,935
3,442,056
889,694
469,110
455,563
170,000
7,803,358
1998
2,229,389
4,099,523
1,159,372
494,402
345,054
0
8,327,740
1999
2,473,241
4,468,294
1,546,650
732,741
626,074
9,847,000
(1) Prior to fiscal
year 1992 Public Works and Planning & Development expenditures were included with Community Service.
Source: City of La Quinta Audited Financial
Statements
2 007
B. GENERAL FUND REVENUE BY SOURCE
Fiscal Year Licenses
Charges
Litigation
Ending and Inter-
for
Settlement
June 30 Taxes Permits Governmental
Services
Proceeds
Interest Miscellaneous
Total
1990 $3,154,942 $3,286,872 $630,791
(1)
(2)
$155,530
$114,686
$7,342,821
1991 3,288,565 785,381 790,880
$602,600
(2)
642,813
101,411
6,211,650
1992 3,135,044 576,293 930,503
488,015
(2)
261,380
120,867
5,512,102
1993 3,581,830 622,107 1,157,587
384,000
(2)
238,321
219,641
6,203,486
r 1994 4,212,604 777,241 1,600,032
469,695
(2)
585,264 1,042,872
8,687,708
1995 4,946,304 902,914 747,784
551,727
$477,872
718,310
137,028
8,481,939
1996 5,393,456 998,030 815,980
610,873
12,386
905,420
230,705
8,966,850
1997 5,942,698 793,689 1,072,803
976,897
40,593
941;327
22,712
9,790,719
_. 1999 6,764,355 1,144,562 1,110,553
1,228,269
281,382
1,164,145
114,969
11,808,235
1999 8,101,191 1,951,981 1,466,788
1,965,219
740,985
1,569,796
74,529
15,870,489
(1) Previously included in Licenses and Permits
r (2) 1995 was the first year Litigation Settlement Proceeds was identified as a revenue source
Source City of La Quinta Audited Financial Statements
C. PROPERTY TAX LEVIES AND COLLECTIONS
Fiscal Year Total Current
Percent
Delinquent
Total
Ending Tax Tax
of Levy
Tax
Collections
June 30 Jay Collection
Collected
Collections
to
Tax Lew
1991 $280,339 $256,297
91.4%
$21,921
99.2%
1992 282,201 260,365
92.3%
25,703
101.4%
1993 282,630 244,731
86.6%
14,824
91.8%
1994 288,407 275,752
95.6%
900
95.9%
1995 549,273 497,043
98.7%
786
88.8%
1996 670,398 643,309
96.0%
2,312
96.3%
1997 824,073 760,350
92.3%
0
92.3%
1998 886,175 980,838
110.7%
0
110.7%
1999 991,1001 1,148,040
115.8%
0
115.8%
Note 1. Proposition 13 limits cities to levying a tax rate for bonded indebtedness only after 1978.
2. Levies and collections are for General Fund only excluding no -low
and supplemental
property taxes.
3. Detail prior to fiscal year 1991 not available.
Source: City of La Quinta and County of Riverside
D. SCHEDULE OF NET TAXABLE VALUE
_ Fiscal Year
Assessed
Less
Less
Net
Ending Secured Unsecured
Property
Property
Homeowner's
Taxable
June 30 Progeny Prop y
Value
Exemptions
Exemptions
Value
1991 $1,278,307,230 $7,156,844 $1,285,464,074
$3,474,595
(1)
$1,281,989,479
1992 1,594,767,374 6,396,816
1,601,164,190
3,605,829
(1)
1,597,558,361
1993 1,773,323,102 6,943,559
1,780,266,661
3,814,434
(1)
1,776,452,227
1994 1,872,768,156 8,119,527
1,880,887,683
3,946,378
$18,901,202
1,858,040,103
1995 1,927,834,908 22,822,285
1,950,657,193
4,357,954
20,518,400
1,925,780,839
1996 2,043,276,054 23,801,872
2,067,077,926
6,936,774
22,399,068
2,037,742,048
1997 2,164,204,951 22,511,720
2,186,716,671
6,919,376
22,407,418
2,157,389,877
1998 2,305,593,987 18,844,880
2,324,438,867
9,676,787
24,877,018
2,289,885,062
1999 2,674,887,437 18,756,736
2,693,644,173
10,998,340
27,581,722
2,655,064,111
Note: Detail prior to fiscal year 1991 not available
(1) Homeowner's exemption not available
Source: County of Riverside
3 008
E. PROPERTY TAX RATE - DIRECT AND OVERLAPPING GOVERNMENTS
(Per $100 of Assessed Value)
y 1998/99
General 1.00000
1997/98
1.00000
1996/97
1.00000
1995/96 1994/9
1.00000 1.00000
Desert Sands Unified 0.09750
0.09750
0.09750
0.09750 0.09750
College of the Desert 0.00000
0.00000
0.00000
0.00000 0.00000
Coachella Valley Water District 0 02080
0.02080
0.020800
02080 0.02080
Total Tax Rate 1.11830
1.11830
1.11830
1.11830 1.11830
Source: County of Riverside
F. SPECIAL ASSESSMENT BILLINGS
AND COLLECTIONS
Year Ended Special Assessment
Special Assessment
Ratio of Collections
June 30 Billings
Collections
0)
to Billines
- 1991 $355,924
$335,177
99.8
1992 557,574
552,249
99.0
1993 559,029
548,291
98.8
1994 766,011
734,560
95.9
- 1995 836,502
737,700
88.2
1996 729,647
699,351
95.8
1997 791,012
757,256
95.7
1998 791,012
761,109
96.2
- 1999 790,532
770,164
97.4
(1) Includes Prepayments and Foreclosures
Source: Riverside County Assessor's Office as compiled by Muni Financial.
G. SCHEDULE OF DIRECT AND OVERLAPPING BONDED DEBT
_ (JUNE 30, 1999)
Percent
June 30, 1999
_ Direct and Overlapping Bonded Debt
Applicable
Bonded Debt
Riverside County General Fund Obligations
1.022
$5,901,318
Riverside County Board of Education Certificates of Participation
1.022
202,633
Desert Community College District Certificates of Participation
3.866
93,403
- Desert Sands Unified School District Certificates of Participation
9.176
2,478,983
Desert Sands Unified School District Lease Tax Obligation
9.176
7,995,457
Coachella Valley County Water District, I.D. #55
69.767
8,281,343
Coachella Valley County Water District, I.D. #58
1.939
175,867
- Coachella Valley County Water District, I.D. #71 Storm
6.410
990,025
Water Unit Certificates of Participation
Coachella Valley Unified School District
4.827
482,700
City of Ia Quinta Certificates of Participation
100.000
8,505,000
City of La Quinta 1915 Act Bonds
100.000
4,525.000
Total Direct and Overlapping Bonded Debt
$39,631,729 (3)
(1) Based on 1996/97 ratios.
(2) Excludes tax allocation bonds to be sold
- (3) Excludes tax and revenue anticipation notes, revenue, mortgage revenue and tax allocation bonds and nonbonded
capital lease obligations.
Source: California Municipal Statistics, Inc.
4 0 0 a
E. PROPERTY TAX RATE - DIRECT AND OVERLAPPING GOVERNMENTS
(Per $100 of Assessed Value)
r. 1998/99 1997/98 1996/9
9 9 1994/95
General 1.00000 1.00000 1.00000
1.00000 1.00000
Desert Sands Unified 0.09750 0.09750 0.09750
0.09750 0.09750
College of the Desert 0.00000 0.00000 0.00000
0.00000 0.00000
Coachella Valley Water District 0.02080 0.02080 0.02080
0,02080 0.02080
Total Tax Rate 1.11830 1.11830 1.11830
1.11830 1.11830
Source: County of Riverside
F. SPECIAL ASSESSMENT BILLINGS AND COLLECTIONS
Year Ended Special Assessment Special Assessment
June 30 Billings Collections (I)
Ratio of Collections
to Billings
1991 $355,924 $335,177
99.8
1992 557,574 552,249
99.0
1993 559,029 548,291
98.8
1994 766,011 734,560
95.9
_ 1995 836,502 737,700
88.2
1996 729,647 699,351
95.8
1997 791,012 757,256
95.7
1998 791,012 761,109
96.2
1999 790,532 770,164
97.4
(1) Includes Prepayments and Foreclosures
Source: Riverside County Assessor's Office as compiled by Muni Financial.
G. SCHEDULE OF DIRECT AND OVERLAPPING BONDED DEBT
(DUNE 30, 1999)
Percent
June 30, 1999
Direct and Overlapping Bonded Debt Qpnlicable 0)
Bonded Debt
_
Riverside County General Fund Obligations 1.022
$5,901,318
Riverside County Board of Education Certificates of Participation 1.022
202,633
Desert Community College District Certificates of Participation 3.866
93,403
Desert Sands Unified School District Certificates of Participation 9.176
2,478,983
_
Desert Sands Unified School District Lease Tax Obligation 9.176
7,995,457
Coachella Valley County Water District, I.D. #55 69.767
8,281,343
Coachella Valley County Water District, I.D. #58 1.939
175,867
Coachella Valley County Water District, I.D. #71 Storm 6.410
990,025
Water Unit Certificates of Participation
Coachella Valley Unified School District 4.827
482,700
City of La Quinta Certificates of Participation 100.000
8,505,000 to
City of La Quinta 1915 Act Bonds 100.000
4,525.000
Total Direct and Overlapping Bonded Debt
$39,631,729 (3)
(1) Based on 1996/97 ratios.
(2) Excludes tax allocation bonds to be sold
(3) Excludes tax and revenue anticipation notes, revenue, mortgage revenue and tax allocation bonds and nonbonded
capital lease obligations.
Source: California Municipal Statistics, Inc.
4 010
H. COMPUTATION OF LEGAL DEBT MARGIN (TUNE 30, 1999)
-- Assessed Valuation
$2,693,644,173
Debt Limit -15 % of Assessed Valuation
404,046,626
Amount of Debt Applicable to Debt Limit
0
Legal Debt Margin
404,046,626
Notes: Section 43605 of the Government Code of the State of California limits the amount of indebtedness for public
improvements to 15% of the assessed valuation of all real and personal property of the City. The City of La Quinta has no
general bonded indebtedness.
Source: City of I.a Quinta
-- I. REVENUE BOND COVERAGE
Local Agency Revenue Bonds (City Hall Project)
Fiscal Year Debt Service Requirements
Ending Revenue Available
June 30 for Debt Service Principal
Interest Total Coverage
--- 1992 $182,784 $0
$182,784 $182,784 1.00
1993 548,352 0
548:352 549,352 1.00
1994 548,352 0
548,352 548,352 1.00
1995 699,477 155,000
544,477 699,477 1.00
-- 1996 696,402 160,000
536,402 696,402 1.00
1997 607,950 170,000
437,950 607,950 1.00
1998 734,623 285,000
449,623 734,623 1.00
1999 684,573 245,000
439,573 684,573 1.00
r Note: Revenue available consists of lease payments made by the City of La Quinta to the La Quinta
Financing Authority.
Source: City of La Quinta
J. DEMOGRAPHIC STATISTICS
Total
Population
Riverside
Fiscal Year Square Percent
County City Population
Endi1ne MikLo) Population (_) Chanee
Ponulation ui Percent of County
1988 23.2 9,274 13.3%
983,800 0.9%
1989 23.2 10,267 10.7%
1,057,200 1.0%
1990 23.3 10,587 3.1%
1,144,400 0.9%
1991 23.8 13,070 23.5%
1,225,800 1.1%
1992 28.0 14,727 12.7%
1,281,000 1.1%
1993 28.2 15,589 5.9%
1,323,500 1.2%
.. 1994 28.2 16,680 7.0%
1,357,400 1.2%
1995 31.2 17,591 5.5%
1,393,500 1.3%
1996 31.2 18,050 2.6%
1,381,879 1.3%
1997 31.2 18,931 4.9%
1,379,956 1.4%
1998 31.2 20,444 8.0%
1,441,237 1.4%
1999 31.2 21,763 6.5%
1,473,307 2.2%
Source: (1) City of La Quinta
(2) State of California Department of Finance
5 Oil
K. PROPERTY VALUE AND CONSTRUCTION ACTIVITIES
Fiscal Year Commercial
Construction Rcsidcntial
Construction
Ending Property
r June 30 Value (l) IhDiu
Value Units
Value
1991 $1,278,307,230 3
$7,299,000 304
$38,320,527
1992 1,594,767,374 12
7,334,871 320
35,744,443
1993 1,773,323,102 7
2,441,392 324
39,145,539
_. 1994 1,872,768,156 13
6,081,796 531
79,318,969
1995 1,927,834,908 4
1,100,119 238
29,163,494
1996 2,043,276,054 8
1,018,940 336
53,973,239
1997 2,164,204,951 11
1,876,747 322
36,971,047
— 1998 2,305,593,987 14
2,689,642 461
70,403,691
1999 2,674,887,437 19
8,894,767 770
132,521,054
Note:: Detail prior to fiscal year 1991 not available
r (1) From Schedule of Net Taxable Value
Source: City of La Quinta
L. PRINCIPAL TAXPAYERS (DUNE 30, 1999)
-' Taxpus
KSL Desert Resorts Inc.
Tng of Activity
Recreational, Residential Land
Michael T. and Lynn C. Goodlett
Vacant Land
r TD Desert Development
Vacant Land, Residential
KSL Land Corporation
Vacant Land, Residential
La Quinta Golf Properties Corporation
Recreational, Commercial
Land
.-. Wal Mart Stores Inc.
Commercial
KSL Hotel Land
Vacant Miscellaneous
GMS Realty
Commercial
Capital Pacific Holdings
Vacant Residential
—
Eagle Hardware and Garden Inc.
Retailer
Source: City of La Quinta
M. MAJOR EMPLOYERS (JUNE 30, 1999)
— Employer
La Quinta Hotel and Golf Resort
Employees
1,500
Activity
Hotel and Golf Resorts
Desert Sands Unified School District
525
School District
— Wal-Mart
280
Retailer
Home Depot
185
Retailer
Rancho La Quinta
150
Golf and Tennis Resort
., Stater Brothers
150
Groceries
Eagle Hardware
125
Retailer
Vons
75
Groceries
City of La Quinta
72
Municipal Government
— Ralphs
65
Groceries
Source: City of La Quinta
-- N. SCHEDULE OF INSURANCE IN FORCE (DUNE 30, 1999)
Company
Policy
... Name
Numbe
Coverag
Limits
Term Premium
Employee Dishonesty,
Hartford
PEBA07068
Forgery, Computer Fraud
$1,000,000
12/03/98 - 99 $2,500
All Risk Property Insurance
Reliance
Including Auto Physical Damage
Insurance Company
NZB1500917
(Excluding Quake & Flood)
25,621,400
07/01/99-00 15,902
Earthquake & Flood Real &
Reliance
Personal Property Including
-- Insurance Company
IMF 026349
Contingent Tax Interruption
5,000,000
02/07/99-00 20,200
California
$0 Deductible
Joint Powers
Retention
Insurance Authority
Certificate #5
Comprehensive General Liability
$50 Million
12/03/98 - 99 60,300
California
-- Joint Powers
Certificate
Insurance Authority
#5009-056
Worker's Compensation
5,000,000
12/03/98 - 99 37,637
Earthquake & Flood Real &
Personal Property Including
American National IMP9880468 Contingent Tax Interruption 2,500,000 02/07/99-00 5,000
Chubbs
Custom Insurance Special Events
$1,000,000 N/A
.. Source: City of La Quinta
O. MISCELLANEOUS STATISTICAL DATA DUNE 30, 1999)
Date of Incorporation
May 2, 1982
Type of City
Charter City
Form of Government
Council / Manager
City Employees
72
City Land Area (square miles).
31.2
Population
21,763
-.. Number of Parks
5
Total Acreage
26
Miles of Streets
170.0
Miles of Bike Paths
3.0
—' Number of Major Intersections
45
Number of Traffic Signals and Safety Lighting
32
Number of Traffic Signs
2,605
Number of Street Lights
7
—' Public Schools
4
Private Schools
1
Churches
3
_ Banks / Savings and Loan
2
Number of Single Family Units - Detached
10,295
Number of Single Family Units - Attached
2,260
Number of Multiple Family Units
697
Number of Mobile Homes
247
7 013
V. SIGNATURE
The information set forth herein has been furnished by the Authority and the City and by
sources which are believed to be accurate and reliable but is not guaranteed as to accuracy or
completeness. Statements contained in this Annual Information Statement which involve
--- estimates, forecasts, or other matters of opinion, whether or not expressly so described herein,
are intended solely as such and are not to be construed as representations of fact. Further, the
information and expressions of opinion contained herein are subject to change without notice
and the delivery of this Annual Information Statement will not, under any circumstances,
create any implication that there has been no change in the affairs of the Authority and the
City or any other parties described herein.
LA QUINTA FINANCING AUTHORITY
CITY OF LA QUINTA
John Falconer '
Finance Director
December 9, 1999
8 014
DEPARTMENT REPORT:
T4'!t
Qamt
COUNCIL/RDA MEETING DATE: December 21, 1999
ITEM TITLE:
Transmittal of Revenue and Expenditure
Reports dated October 31, 1999
RECOMMENDATION:
Receive and File
BACKGROUND AND OVERVIEW:
AGENDA CATEGORY:
BUSINESS SESSION:
CONSENT CALENDAR:
STUDY SESSION:
PUBLIC HEARING:
Transmittal of the October 31, 1999 Statement of Revenue and Expenditures for the
La Quinta Financing Authority.
As Treasurer of the City of La Quinta, I hereby certify that sufficient investment
liquidity and anticipated revenues are available to meet the pools expenditure
requirements for the next six months. The City of La Quinta used the Bureau of the
Public Dept, U.S. Bank Monthly Statement and Bank of New York Monthly Custodian
Report to determine the fair market value of investments at month end.
espe?Tully submitte :
�'qru-"-M
""'tzL'-
J hn M. Falcon r, Finance Director
A proved for Submission b
� J
Thomas P. Genovese, City Manager
Attachments:
1. Revenue and Expenditures Report, October 31, 1999
LA QUINTA FINANCING AUTHORITY
REVENUE DETAIL
DEBT SERVICE REVENUE:
Contractual Services Fees
Non Allocated Interest
Rental Income
Transferin
TOTAL DEBT SERVICE
CAPITAL IMPROVEMENT REVENUE:
Pooled Cash Allocated Interest
Non Allocated Interest
TOTAL CIP REVENUE
07/01/1999-10/3111999
REMAINING %
BUDGET RECEIVED BUDGET RECEIVED
5,600.00
0.00
5,600.00
0.00%
12,400.00
0.00
12,400.00
0.00%
679,670.00
467,397.50
212,272.50
68.77%
0.00
0.00
0.00
N/A
697.670.00
467.397.50
230.272.50
66.99%
0.00 5.84 (5.84) N/A
0.00 6,968.90 (6,968.90) N/A
0.00 6.974.74 (6,974,74) N/A
TOTAL FINANCING AUTHORITY 697,670.00 474 372.24 223 297.76 67.99%
003
LA QUINTA FINANCING AUTHORITY
07/01/1999-10/31/1999
REMAINING
EXPENDITURE SUMMARY
BUDGET EXPENDITURES ENCUMBERED
BUDGET
EXPENDED
DEBT SERVICE EXPENDITURES
SERVICES
9,020.00
1,000.00
0.00
8,020.00
11.09%
BOND PRINCIPAL
250,000.00
250,000.00
0.00
0.00
100.00%
BOND INTEREST
429,670.00
217,397.00
0.00
212,273.00
50.60%
TRANSFER OUT
0.00
0.00
0.00
0.00
N/A
TOTAL DEBT SERVICE
688,690.00
468,397.00
0.00
220,293.00
68.01 %
CAPITAL IMPROVEMENT EXPENDITURES
TRANSFER OUT
517,731.78
0.00
0.00
517,731.78
0.00%
TOTAL CAPITAL IMPROVEMENT
517,731.78
0.00
0.00
517,731.78
0.00%
TOTAL FINANCING AUTHORITY
1,206,421.78
468,397.00
0.00
738,024.78
38.83%
004