HomeMy WebLinkAboutStone & Youngberg; 1988-10-26;2
PURCHASE AGREEMENT
RELATING TO
$1 4,370,000
CERTIFICATES OF PARTICIPATION
(Reservoir and Water Facilities 1988 Refunding and Financing Project)
dated as of October 26, 1988
by and between
COSTA REAL MUNICIPAL WATER DISTRICT
and
STONE & YOUNGBERG
The Date of This Purchase Agreement is October 26, 1988
PURCHASE AGREEMENT
Certificates of Participation
(Reservoir and Water Facilities 1988 Refunding and Financing Project)
THIS AGREEMENT, made and entered into as of this 26th day of October,
1988, by and between.COSTA REAL MUNICIPAL WATER D1STRICT;a special
duly organized and existing under the laws of the State of Californ
"District") and STONE & YOUNGBERG, a partnership duly organized and
under the laws of said State (the "Underwriter") :
district,
a (the
exi sti ng
WHEREAS, the District wishes to undertake the financing of th
District's 1984 Certificates of Participation and the acquisition of
additional water facilities and the District is authorized pursuant to the
laws of the State of California to cause the sale, authentication and delivery
of certificates of participation for such purposes; and
WHEREAS, the District desires to cause the sale and the Underwriter
desires to buy and offer to the public such certificates;
NOW, THEREFORE, in consideration of the premises and the mutual
covenants contained herein, the parties hereto hereby agree as follows:
Section 1. Obliqation to Purchase. The Underwriter agrees to purchase
and the District agrees to cause the Trustee to authenticate, sell and deliver
$14,370,000 aggregate principal amount of Certificates of Participation, dated
November 1, 1988 in the annual principal amounts, at the annual interest
rates, and at the prices set forth in Exhibit A, incorporated herein by
reference, and as described in the Trust Agreement relating to the
Certificates which the District and the Trustee will execute and enter into as
of November 1, 1988 (the "Trust Agreement") and the Preliminary Official
Statement dated October 19, 1988, as amended and supplemented by the Fina?
Official Statement, relating to the Certificates, including the Appendices
thereto (the "Official Statement") subject to the conditions set forth in this
Purchase Agreement. The Underwriter will not be under any obligation under
this Purchase Agreement to purchase less than all of the Certificates.
The Certificates are not a debt of the District, Independent Public
Facilities Corporation, the State of California, or any of its political
subdivisions, within the meaning of the Constitution of the State of
California or otherwise.
Section 2. Purchase Price. The purchase price of the Certificates will
be $14,204,745 plus accrued interest from November 1, 1988, to the date of
delivery thereof. The good faith check in the amount of $50,000, which has been tendered herewith to the District, will be returned to the Underwriter at
the Closing. In the event that the Underwriter terminates this Purchase
Agreement pursuant to Section 7 hereof, the District will return such good
faith check to the Underwriter. In the event the Underwriter fails (other
than for a reason permitted hereunder) to accept delivery and pay for the
Certificates as herein provided, such check will be retained by the District
as and for full liquidated damages for such failure and for any default hereunder on the part of the Underwriter and neither party hereto will have
any further rights against the other hereunder.
Section 3. Delivery of and Payment for the Certificates. The Closing
will take Dlace on November 16, 1988 (the "Closinq Date") in San Diego,
California', or at such other time and place as ma; be mutually agreeable to
the District, and the Underwriter. At the Closing, the Trustee will deliver
or cause to be delivered to the Underwriter the Certificates in definitive
form, duly authenticated, together with the other documents hereinafter
mentioned, against delivery of federal funds to the order of the District or
the Trustee, on behalf of the District in the amount of the purchase price,
plus accrued interest from November 1, 1988 to the date of delivery.
Section 4. The Certificates. The Certificates will be delivered under
the provisions of the Trust Agreement. The Certificates will be in registered
form, in denominations of Five Thousand Dolla'rs ($5,000) or in integral
multiples thereof and will be made available to the Underwriter for checking
in San Francisco, California, at least three business days prior to the
Closing .
Section 5. Representations and Warranties of the District. The
District represents and warrants to the Underwriter that:
(1) The District is duly organized and existing under and by virtue of
the laws of the State of California and has all necessary power and authority
to enter into this Purchase Agreement.
(2) To the best knowledge of the District, the execution and delivery
of this Purchase Agreement, the Trust Agreement, the Installment Sale
Agreement, the Escrow Agreement, and the Agency Agreement by the District and
compliance with the provisions thereof, will not conflict with, or constitute
a breach of or default under, the District's duties under said documents or
any law, administrative regulation, court decree, resolution, charter, bylaws
or other agreement to which the District is subject to or by which it is bound
(3) To the best knowledge of the District, there is no action, suit,
proceeding or investigation at law or in equity before or by any court or
governmental agency or body pending or threatened against the District to
restrain or enjoin the authentication or delivery of the Certificates, or in
any way contesting or affecting the validity of this Purchase Agreement, the
Installment Sale Agreement, the Trust Agreement, the Escrow Agreement, the
Agency Agreement, and the Certificates or contesting the powers of the District to enter into or perform its obligations under any of the foregoing
(4) The information contained in the Preliminary Official Statement
dated October 19, 1988 is true and correct in all material respects and such
information does not contain any untrue or misleading statement of a material
fact or omit to state any material fact necessary to make the statements
therein, in the light of the circumstances under which they were made, not
mi sl eadi ng.
-2-
Section 6. Conditions Precedent to Closinq. Conditions precedent to
the Closinq (to be satisfied in form and substance satisfactory to the
Underwrite;) are as follows:
(1) Authentication and delivery of the Certificates, the Trust
Agreement, the Installment Sale Agreement, the Escrow Agreement, the Agency
Agreement, and this Purchase Agreement in form and substance acceptable to
Jennings, Engstrand & Henrikson ("Special Counsel").
(2) Opinion, dated the date of Closing, of Special Counsel, that
interest with respect to the Certificates will be excluded from gross income
for the purposes of income taxation by the United States of America and will
be exempt from personal income taxation imposed by the State of California.
(3) Opinion, dated the date of Closing, of Special Counsel, to the
effect that, based upon their participation in the preparation of the Official
Statement, but without undertaking an independent investigation, the Official Statement (except as to financial information and statistical data included
therein and in the appendices thereto) does not contain any untrue statement
of a material fact or omit to state a material fact required to be stated
therein or necessary to make the statements therein, in light of the
circumstances under which they were made, not misleading and that the
Certificates are exempt from registration under the Securities Act of 1933, as
amended.
(4) Opinion of Special Counsel dated the date of Closing as to the due
authorization, execution and delivery by the District of the Trust Agreement,
the Installment Sale Agreement, Agency Agreement, Escrow Agreement and this
Purchase Agreement and as to the legal, valid and binding nature thereof.
(5) Opinion or Certificate of Ernst & Whinney, or other certified
public accountants acceptable to the Underwriter, that the funds deposited to
the Escrow Agreement by and between the District and the Trustee are
sufficient to make all payments of principal and interest with respect to the
1984 Certificates from November 1, 1988 until their call and redemption in
full.
(6) The Underwriter shall have received written evidence satisfactory
to the Underwriter that Standard & Poor's Corporation has assigned a rating of
"AAA" to the Certificates and Moody's Investors Service has assigned a rating
of "Aaa" to the Certificates, and the documents delivered at the Closing Date
shall satisfy the conditions of such rating.
(7) The Underwriter shall have received from Bond Investors Guaranty
("BIG") a copy of the bond insurance policy to be issued, insuring the
payment, when due, of principal of and interest on the Certificates, the original of which shall be delivered in accordance with the terms of the
policy.
(8) Such other certificates, instruments or opinions as the Underwriter
may deem necessary or desirable to evidence the due authorization,
authentication and delivery of documents pertaining to this transaction and
the legal, valid and binding nature thereof, as well as compliance with all parties with the terms and conditions hereof.
-3-
a
Section 7. Events Permittinq the Underwriter to Terminate. The
Underwriter may terminate the Underwriter's obligation to purchase the
Certificates at any time before Closing if any of the following occurs:
(a) Any legislative, executive or regulatory action or
any court decision, which, in the judgment of the Underwriter,
casts sufficient doubt on the legality of or the tax-exempt status of interest on obligations such as the Certificates so
as materially to impair the marketability or to materially
reduce the market price of such obligations;
(b) Any action by the Securities and Exchange Commission
or a court which would require registration of the
Certificates under the Securities Act of 1933, as amended, in
connection with the public offering thereof;
(c) Any restriction or trading in securities, or any
banking moratorium, or the inception or escalation of any war
or major military hostilities which, in the judgment of the Underwriter, substantially impairs the ability of the
Underwriter to market the Certificates; or
(d) Any event or condition which, in the judgment of the
Underwriter, renders untrue or incorrect, in any material
respect as of the time to which the same purports to relate, the information, including the financial statements, contained
in the Official Statement, or which requires that information
not reflected in such Official Statement should be reflected
therein in order to make the statements and information
contained therein not misleading in any material respect as of such time.
(e> Any threatened or pending litigation that, in the opinion of the Underwriter affects the marketability of the
Certificates or their validity.
(f) Any conditions as set forth in Section 6 (Conditions
Precedent to Closing) are not met to the satisfaction of the Underwriter.
Section 8. Fees and Expenses. The Underwriter will pay the costs and expenses incurred by it in connection with this financing including
advertising and selling expenses.
The Oistrict will pay all other costs in connection with the sale and
delivery of the Certificates, including the cost of printing or reproducing the Preliminary Official Statement, the Final Official Statement and the
Certificates, the fees of the Trustee, the fees and disbursements of Special
Counsel, and the fees and disbursements of its Financial Advisor, of Ernst &
Whinney and of any other experts or consultants retained by Independent Public
Facilities Corporation or the District.
-4-
., .
Section 9. Notices. Any notices to be given to the Underwriter will be
given in writing to Stone & Youngberg, One California Street, Suite 2800, San
Francisco, California 94111. Any notices to be given to the District or the
Corporation will be given in writing to the Costa Real Municipal Water
District, 5950 El Camino Real, Carlsbad, CA 92008, Attn: District Director.
Any notices given to the Trustee will be given in writing to Security Pacific
National Bank, Corporate Trust Department, 333 South Grand Avenue, Suite 1740, Los Angeles, CA 90071.
Section 10. No Assisnment. This Purchase Agreement has been entered
into by the District, and the Underwriter, and their successors or assigns and
no person other than the foregoing will acquire or have any right under or by
virtue of this Purchase Agreement. All of the representations, warranties and
agreements contained in this Purchase Agreement will survive the delivery of
and payment of the Certificates and any termination thereof.
Section 11. Appplicable Law. This Purchase Agreement will be
interpreted, governed and enforced in accordance with the laws of the State of
California.
Section 12. Severability. In the event any provision of this Purchase
Agreement will be held invalid or unenforceable by any court of competent
jurisdiction, such holding will not invalidate or render unenforceable any
other provision hereof.
COSTA REAL MUNICIPAL WATER DISTRICT
BY BY
Date /D- 2 6 - 8id
(04826)
-5-
EXHIBIT A
Maturity
Date
511 I89
511 I90
511 I91
511 192
51 1 193
51 1 194
511 195
511 I96
511 197
511 I99
51 1 I00
511 I01
511 102
51 1 103
51 1 104
511 198
COSTA REAL MUNICIPAL WATER DISTRICT
CERTIFICATES OF PARTICIPATION
Principal
Amount
$ 485,000
575,000
61 0,000
645,000
685,000
730,000
775,000
825,000
880,000
940,000
1,005,000
1,075,000
1,155,000
1,235,000
1,325,000
1,425,000
Interest
Rate
5.600%
5.800%
6.000%
6.200%
6.400%
6.500%
6.600%
6.700%
6.900%
7 1000%
7 .loo%
7 .200%
7.250%
7.300%
7.300%
6. 800%
Pub1 i c Offer i ng Price
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
100%
- 6-
COSTA REAL MUNICIPAL WATER DISTRICT
(1984 CERTIFICATES OF PARTICIPATION)
Final Refunding Analysis
( no maturity extension )
Distribution of Proceeds -__---______------------
SOURCES OF FUNDS
Principal Amount of Issue
Current Reserve Account Balance (1)
Total
USES OF FUNDS
Refunding Escrow Fund (2)
New Reserve Account (3)
Costs of Issue (4)
Underwriting (5)
Bond Insurance Premium (6)
ADDITIONAL FUNDS RAISED
Total
ADDITIONAL FUNDS RAISED
(insured)
“Aaa Rated”
$14,370,000.00
$1,260,000.00
$13,463,188.03
$1,149,600.00
$150.000.00
$165,255.00
$113.368.82
$580.588.15
Notes: ________________________________________-------------------------------------_-----------
(1) Balance after removal of built up int. earnings
(2) Funded to defease outstanding 1984 issue on 11/16/88
(3) Equals 8% of principal size
(4) Includes estimates of legal, printing, financial consultant and fiscal
agent fees and miscellaneous expenses
(5) Equals 1.15% of principal size
(6) Based on a quoted premium of O.O0456*(P&I) + $4,500
26-Oct-88 (update): STONE & YOUNGBERG
1
5/ 1/89
11/ 1/89
5/ 1/90
11/ 1/90
5/ 1/91
11/ 1/91
5/ 1/92
11/ 1/92
5/ 1/93
11/ 1/93
5/ 1/94
11/ 1/94
5/ 1/95
11/ 1/95
5/ 1/96
11/ 1/96
5/ 1/97
11/ 1/97
5/ 1/98
11/ 1/98
5/ 1/99
11,' 1/99
5/ 1/ 0
11/ 1/ 0
5/ 1/ 1
11/ 1/ 1
5/ 1/ 2 11/ 1/ 2
5/ 1/ 3 11/ 1/ 3
5/ 1/ 4
485,000.00
575,000.00
610,000.00
645,000.00
685,000.00
730.000.00
775,000.00
825,000.00
880.000.00
940,000.00
1,005,000.00
1,075,000.00
1,155,000.00
1.235.000.00
1,325,000.00
1,425,000.00
5.600000
5.800000
6.000000
6.200000
6.400000
6.500000
6.600000
6.700000
6.800000
6.900000
7.000000
7.100000
7.200000
7.250000
7.300000
7.300000
489,818.75
476,238.75
476.238.75
459.563.75
459.563.75
441.263.75
441.263.75
421.268.75
421,268.75
399.348.75
399,340.75
375.623.75
375.623.75
350.048.75
350,048.75
322,411.25
322,411.25
292,491.25
292,491.25
260,061.25
260,061.25
224,886.25
224,806.25
186,723.75
186.723.75
145,143.75
145.143.75
100,375.00
100,375.00
52,012.50
52,012.50
974,818.75
476,238.75
1,051,238.75
459,563.75
1,069,563.75
441,263.75
1.086.263.75
421,268.75
1,106,268.75
399,348.75
1,129,348.75
375,623.75
1,150,623.75
350,048.75
1,175,048.75
322,411.25
1,202,411.25
292,491.25
1.232.491.25 260,061.25
1.265,061.25
224,886.25
1.299.886.25
186,723.75
1.341.723.75
145,143.75
1,380,143.75
100,375.00
1,425,375.00
52.012.50
1,477.012.50
DATED 11/ 1/88 WITH DELIVERY OF 11/16/88
BOND YEARS 134,945.000
AVERAGE COUPON 7.043
AVERAGE LIFE 9.391
NIC % 7.160695 % USING 98.8986833
974.818.75
1,527,477.50
1,529,127.50
1,527.527.50
1.527.537.50
1,528,697.50
1,526.247.50
1,525,097.50
1.524.822.50
1,524,982.50
1,525,122.50
1,524,772.50
1.520.447.50
1,525,287.50
1,525,750.00
1,529,025.00
BOND INSURANCE: ... 0.456733 % OF
(TOTAL DEBT SERVICE - ACCRUED - CAP. INT.) 108,857.36
COSTA REAL MUNI. WATER DISTRICT
OUTSTANDING 1984 COP ISSUE
5/ 1/89
11/ 1/89
5/ 1/90
11/ 1/90
5/ 1/91
11/ 1/91
5/ 1/92
11/ 1/92
5/ 1/93
11/ 1/93
5/ 1/94
11/ 1/94
5/ 1/95
11/ 1/95
5/ 1/96
11/ 1/96
5/ 1/97
11/ 1/97
5/ 1/98
11/ 1/98
5/ 1/99
11/ 1/99
5/ 1/ 0 11/ 1/ 0
5/ 1/ 1
11/ 1/ 1
5/ 1/ 2
11/ 1/ 2
5/ 1/ 3
11/ 1/ 3
5/ 1/ 4
350,000.00
400,000.00
450,000.00
450.000.00
500.000.00
550.000.00
600.000.00
650.000.00
750,000.00
800,000.00
900.000.00
950,000.00
1,050,000.00
1.150.000.00
1,200,000.00
1.250.000.00
8.500000
9 ~ 000000
9.250000
9.400000
9.500000
9.600000
9.700000
9.750000
9.800000
9.800000
9.900000
9.900000
1G.000000
10.000000
10.000000
10.000000
585,800.00
570.925.00
570.925.00
552,925.00
552.925.00
532,112.50
532.112.50 510,962.50
510,962.50
487,212.50
487,212.50
460,812.50
460,812.50 431,712.50
431,712.50
400,025.00
400.025.00
363.275.00
363,275.00
324.075.00
324,075.00
279.525.00
279,525.00
232.500.00
232.500.00
180,000.00
180,000.00
122,500.00
122,500.00
62,500.00
62,500.00
935,800.00
570,925.00
970,925.00
552,925.00
1,002,925.00
532.112.50
982,112.50
510.962.50
1,010.962.50 487,212.50
1.037.212.50
460.812.50
1,060,812.50
431.712.50
1,081,712.50
400,025.00
1,150,025.00
363,275.00
1.163.275.00
324.075.00
1,224.075.00
279,525.00
1,229,525.00 232,500.00
1.282.500.00
180,000.00
1,330,000.00
122,500.00
1,322,500.00
62,500.00
1,312,500.00
935.800.00
1,541,850.00
1,555,850.00
1.514.225.00
1,521,925.00
1,524,425.00
1,521,625.00
1,513,425.00
1,550,050.00
1,526,550.00
1,548,150.00
1,509,050.00
1.515.000.00
1.510.000.00
1,445,000.00
1.375.000.00
DATED 11/ 1/88 WITH DELIVERY OF 11/ 1/88
BOND YEARS 117,300.000
AVERAGE COUPON 9.896
AVERAGE LIFE 9.775
NIC % 9.895929 % USING 100.0000000
COSTA REAL MUNK. WATER DISTRICT
OUTSTANDING 1984 COP ISSUE
ORIGINAL PRINCIPAL CALL
DATE PRINCIPAL CALLED PREMIUM COUPON INTEREST PERIOD TOTAL FISCAL TOTAL ________ ______________ ___________-__ __-____--_____ ________-- ______________ ____-______-_- ------_____-_-
5/ 1/89
11/ 1/89
5/ 1/90
11/ 1/90
5/ 1/91
11/ 1/91
5/ 1/92
11/ 1/92
5/ 1/93
11/ 1/93
5/ 1/94
ACCRUED
350,000.00
400,000.00
450,000.00
450,000.00
500.000.00
550,000.00 9,300,000.00 134.250.00
2,700.000.00 9,300,000.00 134,250.00
2,700.000.00 9.300.000.00 134,250.00
__-________--- ___----------- --------------
============== ============== ===========I==
8.500000
9.000000
9.250000
9.400000
9.500000
9.600000 ---
585.800.00
570.925.00
570.925.00
552.925.00
552.925.00
532,112.50
532,112.50
510,962.50
510.962.50
48'7.212.50
487,212.50 . - _ _ _ - - _ _ - - -
935,800.00 935.800.00
570.925.00
970.925.00 1,541,850.00
552,925.00
1,002,925.00 1,555.850.00
532,112.50
982,112.50 1,514.225.00
510,962.50
1,010,962.50 1,521.925.00
487,212.50
10.471.462.50 10,958.675.00 ---------_-_--
5,894,075.00 18,028.325.00
DATED 11/ 1/88 WITH DELIVERY OF 11/ 1/88
COSTA REAL PlUNI. WATER DISTRICT
OUTSTANDING 1984 COP ISSUE
FIRST LAST
PRINCIPAL CALL CALL CALL CALL MATURITY MATURITY
CALLED CALLED CALLED PRICE PREM I Ut4
134,250.00
9,300,000.00 134.250.00
NO. DATE
1) 5/ 1/94 5/ 1/95 5/ 1/ 4 9.300.000.00 101.434 ______________ _______-___-_-
1
DATE
5/ 1/89
11/ 1/89
5/ 1/90
11/ 1/90
5/ 1/91
11/ 1/91
5/ 1/92
11/ 1/92
5/ 1/93
11/ 1/93
5/ 1/94
1984 OUTSTANDING COPS
NET ESCROW CASH FLOW REQUIREMENTS
400.000.00
450.000.00
450,000.00
500,000.00
9.984.250.00
INTEREST
585,800.00
570,925.00
570.925.00
552,925.00
552.925.00
532,112.50
532,112.50
510,962.50
510,962.50
487,212.50
487,212.50
-_________-_- - PERIOD TOTAL
935,800.00
570,925.00
970.925.00
552.925.00
1,002.925.00
532,112.50
982,112.50
510.962.50
1,010.962.50
487,212.50
10,471,462.50
-
1,541,850.00
1,555,850.00
1,514,225.00
1,521,925.00
10,958,675.00
DATED 11/16/88 WITH DELIVERY OF 11/16/88
A
COSTA HEAL MUNICIPAL WATER DISTRICT
RRBITRAGE YIELD CALCULATION
1988 COP REFUNDING ISSUE
DELIVERY DATE: 11/16/88
Par
Accrued Interest
Bond Insurance
% of (Total D/S -Accrued -
Gross Yield Target Value
14,370,000.00
40,818.23
( 0.456781 %) -108,868.82
0.00 Cap. Interest) ___-___-----------
14,301,949.41
GROSS Y I E L D 7.12732089 %
'1984 OUTSTANDIEG COPS
NET ESCROW CASH FLOW REQUIREMENTS
1
ESCROW CANDIDATE
DATE REQUIREMENT RECEIPTS --_-__-_-- -------------- -------------- -
11/16/88
5/ 1/89 935,000.00 935,508.47
11/ 1/89 570.925.00 570,862.05
5/ 1/90 970.925.00 970.962.85
11/ 1/90 552,925.00 552.862.85
5/ 1/91 1,002,925.00 1,002.962.85
11/ 1/91 532,112.50 532.162.05 5/ 1/92 982,112.50 902,062.85
11,' 1/92 510,962.50 510,962.85
5/ 1/93 1.010.962.50 1,010,962.85
TOTAL CASH PURCHASE
RECEIPTS RECEIPTS BALANCE
380.03
935,508.47 96.50
570,862.85 34.35
970.962.85 72.20
552.862.05 10.05
------------- -----_-------- ---___--_-----
1,002.962.05 47.90
532.162.05 98.25 982.062.85 48.60
510,962.85 48.95
1,010.962.85 49.30
99.65
-.
1984 OUTSIMPJDING COPS
NET ESCROW CANDIDATES
YIELD VERIFICATION REPORT
PV DATE: 11/16/1988 with 2 Compoundings using 30/360 Year Basis
PV RESULTS: PV TOTAL = 13,462,800.00 PV RATE = 7.1265627229
CASH - FLOW SUBTOTAL = 18,027,936.97
DATE AMOUNT RATE PV FACTOR PV AMOUNT
5/ 1/1989 935.508.47 7.1265627 0.96841464 905,960.10
11/ 1/1989 570.862.85 7.1265627 0.93509459 533,810.76
5/ 1/1990 970.962.85 7.1265627 0.90292098 876.702.73
11/ 1/1990 552,862.85 7.1265627 0.87185435 482,015.88
5/ 1/1991 1,002,962.85 7.1265627 0.84185663 844.350.93
11/ 1/1991 532,162.85 7.1265627 0.81289104 432,590.41
5/ 1/1992 982.062.85 7.1265627 0.78492206 770,842.79
11/ 1/1992 510,962.85 7.1265627 0.75791540 387,266.61
5/ 1/1993 1,010.962.85 7.1265627 0.73183795 739.860.98
11/ 1/1993 487,262.85 7.1265627 0.70665775 344,328.07
7,145.070.73
SUBTOTAL 18,027,936.97 13,462,800.00
__________ __---___-__-_-_ ___________ _________-- _____-----__---
5/ 1/1994 10,471,362.85 7.1265627 0.68234392 ___________- _-----------
-.
1984 OUTSTANDING COPS
NET ESCROW CASH FLOW REQUIREMENTS
MATURITY
TYTE D A T E COUPON
SLZS 5/ 1/89 0.000000
SLGS 11/ 1/89 0.000000
SLGS 5/ 1/90 0.000000 s LCS 11/ 1/90 0.000000
SLGS 5/ 1/91 0.000000
__-_---- __------ --_--_-_- _____
PAR
AMOUNT PRICE
552,000 100.000000
152,700 100.000000
552,800 100.000000
134,700 100.000000
584,800 100.000000
-----___ __________ -
ACCRUED
COST INTEREST
552,000.00 0.00
152,700.00 0.00
552,800.00 0.00
134,700.00 0.00
584,800.00 0.00
----___________ ___-____________
SLZS 11/ 1/91 0.000000 114,000 100.000000 114,000.00
SLGS 5/ 1/92 0.000000 563,900 100.000000 563,900.00
SLGS 11/ 1/92 0.000000 92,800 100.000000 92,800.00 SLZS 5/ 1/93 0.000000 592,800 100.000000 592,800.00
SiGS 11/ 1/93 0.000000 69,100 100.000000 69,100.00
0.00
0.00
0.00
0.00
0.00
SLZS 5/ 1/94 8.319000 10,053,200 100.000000 10,053,200.00 0.00
SL'ZTOTAL 13.462.800 13,462,800.00 0.00
_-----______- ___-------_-__ --------_--___
BEGINNING CASH 388.03
CCST OF SECURITIES 13,462,800.00
--
TC7.X COST OF ESCROW 13,463,188.03
TOTAL
COST
552,000.00
152,700.00
552.800.00
134,700.00
584.800.00
---________-_-
114,000.00
563,900.00
92,800.00
592,800.00
69,100.00
10,053,200.00
13,462,800.00
-_-------_____