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Home My WebLink About2008-05-13; City Council; 19435; Report on City Investments as of March 31, 2008CITY OF CARLSBAD - AGENDA BILL AB# 19,435 MTG. 05/13/08 DEPT. TRS REPORT ON CITY INVESTMENTS AS OF MARCH 31, 2008 DEPT. HEADf df-fW CITYATTY. ^"<&> CITY MGR. U/ — RECOMMENDED ACTION: Accept and file report. ITEM EXPLANATION: The City's Investment Policy requires the City Treasurer to report to the City Council on a monthly basis the status of the City's pooled investment portfolio. A quarterly report is also required for the investments of bond proceeds held separately. The City's pooled investment portfolio as of the month ended March 31, 2008 is summarized below. Pooled Investment Portfolio (Cash and Securities) Par Value Cost of Investments Amortized Cost (1 ) Market Value (2) Current Month 540,212,742 542,937,772 543,217,477 553,723,146 Prior Month 544,194,765 546,054,290 546,543,672 557,647,612 (1) The cost of investments adjusted for amortized premiums and discounts. (2) The amount at which the investments could be sold. Source of market values is Union Bank of California's custodial report as of 3/31/08. The equity potion of the various funds in the total portfolio is summarized in the graph below. Fund balances are restricted for various purposes. See Exhibit 7 for a more detailed breakdown. FUND EQUITY IN POOLED INVESTMENTS (Dollar Amounts in Millions) General Special Revenue•$40 Other Internal Service Agency pilal Projects $269 Enterprise $127 Total Treasurer's Investment Portfolio at Amortized Cost March 31,2008 $543.2 million FOR CITY CLERKS USE ONLY. COUNCIL ACTION: APPROVED DENIED CONTINUED WITHDRAWN AMENDED *D D D D CONTINUED TO DATE SPECIFIC CONTINUED TO DATE UNKNOWN RETURNED TO STAFF OTHER - SEE MINUTES COUNCIL RECEIVED THE REPORT D D D D DEPARTMENT CONTACT: Nancy Sullivan (760)602-2473 nsull@ci.carlsbad.ca.us PAGE 2 of AB REPORT ON CITY INVESTMENTS AS OF MARCH 31. 2008 Pooled Investment Interest Income Cash Income Fiscal Year-to-Date * Current Month FYTD 20,037,187 Prior Month FYTD 18,270,858 Current Month Income 1 ,766,329 *The cash income received is adjusted for any accrued interest purchased. Pooled Investment Performance/Measurement January 2008 February 2008 March 2008 Average Life (Years) 2.04 2.08 2.12 Average Yield To Maturity 4.55% 4.43% 4.32% Modified Duration 1.866 1.950 1.944 All pooled investments have been made in accordance with the City's Investment Policy adopted January 2, 1985 and last revised February 13, 2007. All investments were initially made in accordance with the City's Investment Policy. Events subsequent to the purchase might have resulted in some investments not being in compliance with the current policy. These events are typically a change in the City's Investment Policy, a change in the credit rating subsequent to a purchase, or a temporary reduction in total portfolio assets. See Exhibit 8 for details. The pooled investment portfolio has the ability to meet the City's cash flow demands for the next six (6) months. In summary, the City's investments of bond proceeds held separately as of the quarter ended March 2008 is as follows: Investment Portfolio for Bond Proceeds Par Value Cost Current Quarter 38,445,260 38,445,260 Prior Quarter 21 ,965,495 21 ,965,495 All investments of bond proceeds have been made in accordance with the City's Investment Policy and the trust indenture for each issue. The $16 million increase is due to the sale of bonds for CFD #3 Improvement Area #2. See Exhibit #11 for additional details. PAGE 3 of AB REPORT ON CITY INVESTMENTS AS OF MARCH 31. 2008 EXHIBITS FOR POOLED INVESTMENTS: 1. Investment Portfolio Breakdown By Amortized Cost, Market Value, Cash Income, and Average Yield 2. Investment Portfolio Breakdown Of Maturities 3. Yield Comparison Graph 4. Market Yield Curve 5. Cumulative Cash Income Graph 6. Third Quarter Transactions 7. Detailed Investment Report 8. Fund Equity in Pooled Investments 9. Corporate Note and Commercial Paper Ratings 10. Percentage Weightings By Corporate Note Issuer EXHIBIT FOR INVESTMENTS OF BOND PROCEEDS HELD SEPARATELY: 11. Detailed Investment Report - Quarterly Report EXHIBIT FOR SUMMARY OF OUTSTANDING HOUSING LOANS: 12. Detail Of Outstanding Housing Loans - Quarterly Report CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF MARCH 31, 2008 BREAKDOWN BY AMORTIZED COST, MARKET VALUE, CASH INCOME, AND A VERAGE YIELD BY CLASS AVERAGE YIELD Class CD FN CP TR FA CN LAIF CUSTODY SWEEP BANK ACCT Current Month 33,000 3,961,589 0 0 429,185,030 75,617,116 31 ,842,834 - 2,097,889 480,018 Prior Month 504,092 3,947,243 0 0 430,193,240 75,552,424 34,445,145 - 1,409,120 492,408 Current Month 33,000 3,981,200 0 0 437,991,155 77,297,050 31,842,834 0 2,097,889 480,018 Prior Month 504,092 3,969,600 0 0 438,974,914 77,852,333 34,445,145 0 1,409,120 492,408 Cash Income Year to Date 15,426 0 0 0 16,367,101 2,354,762 1,235,935 9,497 54,467 0 Current Month 1.88 4.32 0.00 0.00 4.26 4.77 4.21 1.96 1.05 1.05 Prior Month 4.47 4.32 0.00 0.00 4.37 4.82 4.41 1.92 1.81 1.81 TOTALS $543,217,477 $546,543,672 $553,723,146 $557,647,612 $20,037,187 4.32%4.43% CD - Certificate of Deposit FN - Federal Discount Notes CP - Corporate Paper TR - US Treasury FA - Federal Agency CN - Corporate Notes LAIF - Local Agency Investment Fund Custody - Investment Cash account SWEEP - General Fund Overnight Cash acccount Bank Account - General Fund Cash account mx CO CITY OF CARLSBAD INVESTMENT PORTFOLIO AS OF MARCH 31, 2008 BREAKDOWN OF MATURITIES BY CLASSIFICATION AND LENGTH OF TIME CLASS CD FN CP TR FA CN LAIF CUSTODY SWEEP BANKACCT TOTALS % TOTALS Total within One WITHIN 6 MONTHS 33,000 3,917,163 0 0 71,425,242 0 31,842,834 0 2,097,889 480,018 $109,796,147 (1) 20.2% Year 7 MONTHS TO 1 YEAR 0 0 0 0 26,749,051 0 0 0 0 0 $26,749,051 (1) 4.9% $136,545,198 (1) 1 TO 5 YEARS 0 0 0 0 330,692,740 75,699,834 0 0 0 0 $406,392,575 74.9% TOTAL 33,000 3,917,163 0 0 428,867,034 75,699,834 31,842,834 0 2,097,889 480,018 $542,937,772 100.0% % TOTAL 0.0% 0.7% 0.0% 0.0% 79.0% 13.9% (2) 5.9% 0.0% 0.4% 0.1% 100.0% POLICY: 25.2% (1) Not less than $124,700,000 to mature within one year. (2/3rds of current year operating budget of $187,100,000.00) (2) Policy states that not more than 30% of portfolio is to be invested in corporate notes. X:Ei—ioo YIELD COMPARISON PORTFOLIO EX-LAIF VS. LAIF JULY 1996 - MARCH 2008 EX-LAIF LAIF MARKET YIELD CURVE 6/30/06, 6/30/07, 03/31/08 Market Rates H.U 3 C.3 2 c.O 1 ^ - - - ' -"« *. -^** * mJS»' I.Ojk.---""™ n x \ 3Mth 2Yr 5Yr 3Mth 2Yr 5Yr 10 Yr 06/30/2006 06/30/2007 03/31/2008 4.98 4.86 1.32 5.15 4.84 1.58 5.09 4.89 2.44 5.14 4.99 3.41 10 Yr X JCI—I DO Cumulative Millions $ Cumulative Cash Income FY07-08 (July 07 - June 08) 22 18 16 10 8 6 4 2.82 2.6 ^ 2.7 2.4 1.8 Monthly Interest Income Millions $ - 7 8 4 3 - 2 1 Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun Interest Income - -* • Budget -D— Actual Xre HH DOi—i —I U1 City of Carlsbad TRANSACTIONS FOR PERIOD: 01/01/08 TO 01/31/08 3rd QUARTER 2007-2008 Trans Date BUYS JANUARY 01/02/2008 01/03/2008 01/02/2008 01/08/2008 01/16/2008 01/18/2008 01/18/2008 01/18/2008 01/18/2008 01/18/2008 01/18/2008 01/18/2008 01/22/2008 01/25/2008 01/25/2008 01/25/2008 01/25/2008 01/25/2008 01/25/2008 01/25/2008 01/16/2008 01/30/2008 01/30/2008 01/30/2008 01/30/2008 FEBRUARY 01/30/2008 01/31/2008 01/30/2008 01/30/2008 02/01/2008 02/01/2008 02/05/2008 02/01/2008 02/12/2008 02/12/2008 02/12/2008 02/12/2008 02/12/2008 02/15/2008 02/19/2008 Investment Date 01/03/2008 01/04/2008 01/07/2008 01/14/2008 01/17/2008 01/22/2008 01/22/2008 01/22/2008 01/22/2008 01/22/2008 01/22/2008 01/22/2008 01/23/2008 01/28/2008 01/28/2008 01/28/2008 01/28/2008 01/28/2008 01/28/2008 01/30/2008 01/30/2008 01/31/2008 01/31/2008 01/31/2008 01/31/2008 02/01/2008 02/01/2008 02/04/2008 02/04/2008 02/04/2008 02/04/2008 02/12/2008 02/20/2008 02/13/2008 02/13/2008 02/13/2008 02/13/2008 02/13/2008 02/20/2008 02/20/2008 Maturity Date 05/15/2008 07/30/2009 01/07/2011 01/14/2013 10/03/2008 07/27/2009 08/05/2009 09/11/2009 12/11/2009 11/18/2009 10/28/2009 11/06/2009 01/07/2013 02/12/2010 04/28/2010 05/20/201 1 01/28/2013 03/08/2010 11/13/2009 10/23/2012 01/15/2010 01/15/2010 02/12/2010 08/09/2010 11/13/2009 01/29/2010 09/11/2009 02/04/2010 02/04/2010 01/30/2013 03/12/2010 08/12/2010 02/20/2013 07/30/2010 05/28/2009 02/13/2012 07/09/2009 03/12/2010 03/1 1/201 1 07/28/2010 Type FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA CN CN CN FA CN FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA Security FNMA FHLMC FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLMC FNMA FNMA FHLB FHLB FHLMC FHLB FHLB FNMA FFCB WELLS FARGO BERKSHIRE HATHWAV BERKSHIRE HATHWAV FHLB WELLS FARGO FHLB FHLMC FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FHLB FFCB FHLMC FHLB FHLB FNMA Call Date N/A N/A 01/07/2009 10/14/2008 N/A N/A N/A N/A N/A N/A N/A N/A 01/07/2010 N/A N/A 11/20/2009 01/28/2009 N/A N/A N/A N/A N/A N/A N/A N/A 07/29/2008 N/A 08/04/2008 02/04/2010 01/30/2009 N/A 08/12/2008 02/20/2009 N/A N/A 05/13/2008 N/A N/A N/A N/A Par Value 2,000,000.00 1 ,270,000.00 3,000,000.00 3,000,000.00 1 ,000,000.00 500,000.00 2,000,000.00 3,000,000.00 3,000,000.00 2,080,000.00 500,000.00 2,000,000.00 2,000,000.00 1 ,000,000.00 1,500,000.00 3,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 3,000,000.00 1,000,000.00 1 ,000,000.00 650,000.00 4,000,000.00 2,000,000.00 3,000,000.00 4,000,000.00 2,550,000.00 1,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 3,000,000.00 Coupon 6.000% 4.375% 4.125% 4.250% 4.375% 4.180% 5.250% 4.375% 5.000% 4.125% 4.000% 4.000% 4.700% 3.875% 4.020% 4.500% 4.200% 4.400% 4.125% 5.250% 4.125% 4.125% 7.375% 4.625% 4.250% 3.250% 5.250% 3.200% 3.000% 4.350% 2.375% 3.190% 4.000% 5.000% 4.070% 3.875% 3.250% 2.375% 2.875% 4.700% Amount (Cost) 2,014,000.00 1 ,286,826.23 3,000,000.00 3,000,000.00 1,008,094.00 508,810.00 2,070,366.00 3,070,602.00 3,114,720.00 2,124,168.80 508,645.00 2,038,020.00 2,056,800.00 1,020,550.00 1 ,537,935.00 3,078,630.00 3,000,000.00 2,064,240.00 2,049,060.00 1,042,814.41 2,040,548.16 2,038,582.81 2,177,668.00 2,063,614.72 1 ,024,930.00 3,000,000.00 1,041,519.37 1 ,000,000.00 650,000.00 4,040,000.00 1 ,989,880.00 3,000,000.00 4,000,000.00 2,688,248.25 1,019,418.00 998,700.00 2,020,560.00 1,994,095.84 2,993,378.76 3,134,430.00 Return Rate 4.03% 3.50% 4.13% 4.25% 3.29% 2.98% 2.89% 2.89% 2.90% 2.92% 2.99% 2.92% 4.06% 2.83% 2.85% 3.65% 4.20% 2.82% 2.71% 4.24% 3.05% 3.10% 2.84% 3.30% 2.81% 3.25% 2.60% 3.20% 3.00% 4.13% 2.62% 3.19% 4.00% 2.71% 2.53% 3.91% 2.50% 2.52% 2.95% 2.79% Interest 30,000.00 70,530.37 371 ,250.00 637,500.00 23,017.11 22,830.28 90,925.67 144,137.58 168,196.67 112,177.87 26,688.33 107,313.33 409,022.22 58,456.94 97,740.00 368,370.00 630,000.00 121,537.78 98,752.50 205,539.76 121,014.34 122,750.52 122,248.67 169,690.84 50,861 .67 194,458.33 43,063.96 64,000.00 39,000.00 828,066.67 110,133.89 239,250.00 800,000.00 175,897.58 33,152.83 156,300.00 70,801.11 104,730.55 270,402.49 209,453.33 Investment Return 2,044,000.00 1,357,356.60 3,371,250.00 3,637,500.00 1,031,111.11 531,640.28 2,161,291.67 3,214,739.58 3,282,916.67 2,236,346.67 535,333.33 2,145,333.33 2,465,822.22 1,079,006.94 1,635,675.00 3,447,000.00 3,630,000.00 2,185,777.78 2,147,812.50 1,248,354.17 2,161,562.50 2,161,333.33 2,299,916.67 2,233,305.56 1,075,791.67 3,194,458.33 1,084,583.33 1,064,000.00 689,000.00 4,868,066.67 2,100,013.89 3,239,250.00 4,800,000.00 2,864,145.83 1 ,052,570.83 1,155,000.00 2,091,361.11 2,098,826.39 3,263,781 .25 3,343,883.33 co CTl o Trans Date 02/26/2008 MARCH 03/02/2008 03/04/2008 03/04/2008 03/04/2008 03/04/2008 03/04/2008 03/05/2008 02/26/2008 03/11/2008 03/12/2008 03/13/2008 03/14/2008 03/14/2008 03/17/2008 03/24/2008 Investment Date 02/27/2008 03/02/2008 03/05/2008 03/05/2008 03/05/2008 03/05/2008 03/05/2008 03/06/2008 03/10/2008 03/12/2008 03/13/2008 03/18/2008 03/19/2008 03/19/2008 03/18/2008 03/25/2008 TOTAL THIRD QUARTER MATURITIES JANUARY FEBRUARY MARCH 07/18/2005 04/29/2005 05/21/2004 03/17/2004 03/02/2007 05/25/2005 TOTAL THIRD QUARTER Maturity Date 06/11/2010 03/02/2009 02/04/2009 06/12/2009 10/23/2009 08/19/2011 10/27/2011 11/06/2009 03/08/2013 07/26/2010 07/30/2009 03/18/2013 06/15/2010 07/01/2010 06/26/2012 07/30/2009 2007-2008 01/18/2008 01/28/2008 02/22/2008 03/17/2008 03/02/2008 03/10/2008 2007-2008 Type FA CD FA FA FA FA FA FA FA FA FA FA CN CN FA FA FA FA FA FA CD CN Security FHLB WELLS FARGO FHLB FHLB FFCB FHLB FHLB FFCB FHLB FHLB FHLMC FHLMC GOLDMAN SACHS WAL-MART FHLB FHLMC FHLB FHLMC FHLB FHLMC WELLS FARGO BANK WORLD SAVINGS BANI Call Date N/A N/A N/A N/A N/A 08/19/2008 10/27/2009 N/A N/A N/A N/A 09/18/2008 N/A N/A 06/26/2009 N/A 01/18/2006 07/28/2005 02/22/2005 03/17/2006 N/A N/A Par Value 1 ,000,000.00 33,000.00 1,315,000.00 4,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 1 ,000,000.00 3,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 106,398,000.00 3,000,000.00 5,000,000.00 5,000,000.00 2,400,000.00 504,091 .80 3,000,000.00 18,904,091.80 Coupon 4.250% 1 .880% 5.000% 5.250% 5.000% 3.550% 5.300% 4.350% 3.500% 4.440% 4.375% 4.000% 4.500% 4.125% 5.750% 4.375% 4.260% 2.75% STEP 3.600% 2.25% STEP 4.470% 4.125% Amount (Cost) 1 ,030,795.00 33,000.00 1,347,059.70 4,150,240.00 2,090,620.00 1,000,000.00 2,085,000.00 1,031,080.00 2,963,940.00 1,043,000.00 1,027,740.00 999,000.00 1 ,025,648.53 2,060,389.92 2,075,680.00 2,052,000.00 108,525,048.50 2,998,125.00 4,918,750.00 5,000,000.00 2,400,000.00 504,091.80 2,999,689.80 18,820,656.60 Return Rate 2.85% 1 .88% 2.29% 2.23% 2.16% 3.55% 4.03% 2.43% 3.77% 2.56% 2.32% 4.02% 3.30% 2.75% 4.76% 2.40% 3.21% 4.28% 4.00% 3.60% 3.10% 4.47% 4.13% 3.86% Interest 66,482.78 620.40 28,028.49 116,343.33 72,713.33 122,672.22 301,311.11 41 ,420.00 560,476.67 62,326.67 32,659.31 201 ,000.00 75,101.47 127,985.08 415,625.56 65,881.94 10,009,911.55 321 ,375.00 546,493.06 675,500.00 300,000.00 23,419.85 345,778.95 2,212,566.86 Investment Return 1 ,097,277.78 33,620.40 1,375,088.19 4,266,583.33 2,163,333.33 1,122,672.22 2,386,311.11 1,072,500.00 3,524,416.67 1,105,326.67 1,060,399.31 1 ,200,000.00 1,100,750.00 2,188,375.00 2,491 ,305.56 2,117,881.94 118,534,960.05 3,319,500.00 5,465,243.06 5,675,500.00 2,700,000.00 504,091.80 3,345,468.75 21,009,803.61 CALLS and /or SALES JANUARY 03/28/2006 06/17/2003 12/29/2004 03/02/2007 01/23/2007 06/25/2003 01/23/2007 06/29/2005 01/14/2005 01/07/2005 12/29/2004 01/20/2004 FEBRUARY 01/26/2004 01/26/2005 03/29/2006 07/16/2003 01/12/2005 03/05/2007 01/24/2007 07/24/2003 01/24/2007 06/30/2005 01/27/2005 01/27/2005 01/27/2005 01/28/2004 02/18/2004 02/22/2005 01/18/2011 07/16/2008 01/12/2010 01/23/2012 07/23/2009 07/24/2008 07/24/2009 01/27/2010 01/27/2010 01/27/2010 01/27/2010 07/28/2008 02/18/2009 02/22/2010 FA FA FA FA FA FA FA FA FA FA FA FA FA FA FNMA FHLB FHLMC FNMA FHLB FHLB FHLB FNMA FNMA FNMA FNMA FHLMC FHLMC FNMA 01/18/2008 01/16/2008 01/12/2008 01/23/2008 01/23/2008 01/24/2008 01/24/2008 01/27/2006 01/27/2008 01/27/2008 01/27/2008 01/28/2008 02/18/2008 02/22/2008 3,000,000.00 3,000,000.00 5,000,000.00 2,000,000.00 4,000,000.00 5,000,000.00 3,000,000.00 1 ,700,000.00 3,000,000.00 5,000,000.00 5,000,000.00 3,000,000.00 5,000,000.00 5,000,000.00 5.100% 5% STEP 3.625%STEP 5.500% 5.300% 2%STEP 5.250% 3.75%STEP 3.75%STEP 3.75%STEP 3.75%STEP 3.00%STEP 3.00%STEP 3.75%STEP 2,968,710.00 3,000,000.00 5,000,000.00 2,003,600.00 3,998,400.00 5,000,000.00 2,998,500.00 1,695,750.00 2,997,000.00 5,000,000.00 5,000,000.00 3,000,000.00 5,000,000.00 5,000,000.00 5.35% 3.20% 4.62% 5.45% 5.32% 3.22% 5.27% 4.91% 4.77% 4.75% 4.75% 3.59% 3.96% 4.80% 766,115.00 487,500.00 1,168,750.00 533,566.67 531,011.11 818,750.00 385,875.00 385,156.25 723,000.00 1 ,200,000.00 1 ,200,000.00 487,500.00 1 ,000,000.00 1,200,000.00 3,734,825.00 3,487,500.00 6,168,750.00 2,537,166.67 4,529,411.11 5,818,750.00 3,384,375.00 2,080,906.25 3,720,000.00 6,200,000.00 6,200,000.00 3,487,500.00 6,000,000.00 6,200,000.00 Trans Date 07/26/2005 06/28/2004 MARCH 02/20/2004 08/05/2008 11/17/2005 03/05/2004 11/29/2005 07/18/2005 Investment Date 07/27/2005 07/01/2004 03/10/2004 08/08/2005 11/25/2005 03/23/2004 11/30/2005 07/19/2005 TOTAL THIRD QUARTER STOCKS APRIL FEBRUARY 04/01/2007 02/14/2007 Maturity Date 02/26/2009 02/27/2009 03/10/2009 06/11/2010 03/18/2010 03/23/2009 09/27/2010 12/30/2008 2007-2008 Type FA FA FA FA FA FA FA FA EQUITY EQUITY FNMA FNMA FHLMC FHLB FHLB FHLMC FHLB FHLB Time Wi Time Wi Security Call Date 02/26/2008 02/27/2008 03/10/2008 03/11/2008 03/18/2008 03/23/2008 03/27/2008 03/30/2008 14.00 shares Par Value 2,500,000.00 5,000,000.00 5,000,000.00 3,000,000.00 3,000,000.00 5,000,000.00 3,000,000.00 1,500,000.00 80,700,000.00 Par Value is $0.01 per share $0.01 per share 0.14 Coupon 4.000% 4.070% 3.00% STEP 3.375% STEP 4.450% 3.0% STEP 4.780% 3% STEP Amount (Costt 2,467,130.64 4,912,500.00 5,000,000.00 2,891,250.00 2,936,487.87 5,000,000.00 2,967,840.00 1,475,625.00 80,312,793.51 Cost - - Return Rate 4.40% 4.49% 3.18% 4.76% 5.00% 3.91% 5.03% 4.56% 4.43% Interest 390,924.92 1 ,034,905.56 987,500.00 681,468.75 639,416.30 987,500.00 724,065.00 235,750.00 16,568,754.56 Investment Return 2,858,055.56 5,947,405.56 5,987,500.00 3,572,718.75 3,575,904.17 5,987,500.00 3,691,905.00 1,711,375.00 96,881 ,548.07 Market Value At 3/31/08 349.72Class A Common Stock Fourteen shares of Time Warner Cable (TWC) were distributed to the City in connection with the bankruptcy of Adelphia Communications Corporation. An additional distribution of cash will be made separately to holders of allowed claims against Adelphia Communications Corporation and Certain Affiliated Debtors. The City Treasurer has directed one of the City's investment brokers, First Tennessee, to sell the City's shares and remit payment to the City. INVESTMENT REPORT AS OF MARCH 31,2008 INVESTMENT DATE 04/21/2005 11/04/2004 01/03/2008 11/16/2004 05/19/2005 11/22/2004 12/03/2007 12/21/2006 06/16/2005 11/04/2005 07/07/2005 07/28/2003 12/22/2006 12/21/2006 12/28/2006 04/20/2007 05/15/2007 12/22/2006 01/17/2008 07/22/2005 05/21/2007 05/21/2007 12/15/2004 06/22/2005 06/27/2005 03/05/2008 04/02/2004 04/16/2004 04/14/2004 04/13/2004 04/13/2004 04/28/2004 04/28/2004 04/28/2004 05/05/2004 05/05/2004 11/08/2007 02/13/2008 03/14/2007 MATURITY DATE 04/21/2008 04/30/2008 05/15/2008 05/16/2008 05/19/2008 05/22/2008 06/03/2008 06/06/2008 06/16/2008 07/02/2008 07/07/2008 07/28/2008 08/15/2008 08/22/2008 08/28/2008 09/12/2008 09/12/2008 09/19/2008 10/03/2008 10/15/2008 11/03/2008 12/12/2008 12/15/2008 01/23/2009 01/26/2009 02/04/2009 03/16/2009 03/16/2009 03/17/2009 04/13/2009 04/13/2009 04/28/2009 04/28/2009 04/28/2009 05/05/2009 05/05/2009 05/12/2009 05/28/2009 06/12/2009 TYPI FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA SECURITY FNMA 4.00% DUE 4/21/08 CALL 4/21/06 FHLB 3.565% DUE 4/30/08 CALL 1/30/05 FNMA 6.00% DUE 5/15/08 NON-CALL FNMA 3.70% DUE 5/16/08 CALL 5/16/05 FNMA 4.00% DUE 5/19/08 CALL 5/19/06 FHLMC 3.6% DUE 5/22/08 CALL 11/22/05 FHLB 4.30% DUE 6/3/08 NON-CALL FNMA 4.08% DUE 6/6/08 CALL 6/6/07 FHLB 3.70% DUE 6/16/08 CALL 6/16/06 FHLB 3.00% DUE 7/02/08 CALL 01/02/06 FNMA 4.0% DUE 7/07/08 CALL 10/07/05 FHLB 2.00% DUE 07/28/08 CALL 07/28/05 FNMA 4.5% DUE 8/15/08 NON-CALL FHLB 3.875% DUE 8/22/08 NON-CALL FHLB 5.125% DUE 8/28/08 CALL 6/28/07 FHLMC 4.875% DUE 9/12/08 NON-CALL FHLMC 4.875% DUE 9/12/08 NON-CALL FHLMC 4.48% DUE 9/19/08 NON-CALL FHLB 4.375% DUE 10/03/08 NON-CALL FHLB 2.75% DUE 10/15/08 CALL 10/15/05 FNMA 4.900% DUE 11/3/08 NON-CALL FHLB 5.00% DUE 12/12/08 NON-CALL FFCB 4.00% DUE 12/15/08 CALL 6/15/05 FHLB 3.50% DUE 01/23/09 CALL 7/23/05 FNMA 4.00% DUE 01/26/09 CALL 01/26/07 FHLB 5.00% DUE 2/4/09 NON-CALL FNMA 3.125% DUE 03/16/09 CALL 03/16/06 FNMA 3.125% DUE 03/16/09 CALL 03/16/06 FHLMC 2.5% DUE 3/17/09 CALL 3/17/06 FHLMC 2.50% DUE 04/13/09 CALL 04/13/05 FHLMC 2.50% DUE 4/13/09 CALL 4/13/05 FHLMC 2.750% DUE 04/28/09 CALL 04/28/06 FHLMC 3.250% DUE 04/28/09 CALL 04/28/05 FHLMC 3.250% DUE 04/28/09 CALL 04/28/05 FHLMC DUE 05/05/09 CALL 05/05/05 FHLMC 3.00% DUE 5/5/09 CALL 05/05/06 FFC 9.55% DUR 5/12/09 NON-CALL FHLB 4.07% DUE 5/28/09 NON-CALL FHLB 5.25% DUE 6/12/09 NON-CALL PAR VALUE 5,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 5,000,000.00 3,000,000.00 3,000,000.00 3,763,000.00 3,000,000.00 4,000,000.00 5,000,000.00 3,000,000.00 3,000,000.00 5,000,000.00 8,000,000.00 2,000,000.00 5,000,000.00 3,000,000.00 1 ,000,000.00 700,000.00 3,000,000.00 1,000,000.00 3,000,000.00 6,000,000.00 3,000,000.00 1,315,000.00 3,000,000.00 3,000,000.00 2,000,000.00 5,000,000.00 2,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 INVESTED AMOUNT 5,000,000.00 2,999,062.50 2,014,000.00 2,995,312.50 5,000,000.00 2,995,500.00 3,000,000.00 3,714,081.00 3,000,000.00 3,873,960.00 5,000,000.00 2,983,125.00 2,979,330.00 4,922,457.90 8,000,000.00 1,996,570.00 4,983,850.00 2,977,680.00 1,008,094.00 677,460.00 2,990,820.00 998,850.00 3,000,000.00 5,865,937.50 2,993,100.00 1,347,059.70 2,973,270.00 2,913,835.02 1,980,625.00 5,000,000.00 2,000,000.00 5,000,000.00 5,000,000.00 4,997,500.00 5,000,000.00 5,000,000.00 2,155,378.00 1,019,418.00 2,022,809.38 RETURN RATE 4.485% 3.575% 4.030% 3.748% 4.458% 3.646% 4.300% 5.014% 4.352% 5.008% 4.500% 3.284% 4.937% 4.850% 5.125% 5.000% 5.125% 4.927% 3.209% 4.462% 5.120% 5.075% 4.000% 4.177% 4.069% 2.287% 3.321% 3.770% 4.200% 3.558% 3.558% 3.474% 4.014% 4.164% 4.262% 4.200% 4.190% 2.530% 4.705% INTEREST 675,000.00 374,074.17 30,000.00 393,187.50 668,750.00 382,500.00 64,500.00 272,817.50 393,000.00 525,373.33 700,000.00 496,875.00 243,045.00 400,996.96 683,333.33 139,388.33 339,118.75 256,400.00 23,017.11 99,603.19 222,330.00 79,066.66 480,000.00 887,145.83 436,566.67 28,028.49 491,313.33 547,102.48 415,625.00 900,000.00 360,000.00 875,000.00 1,012,500.00 1,052,500.00 1,075,000.00 1 ,050,000.00 133,244.22 33,152.83 212,857.29 INVESTMENT RETURN 5,675,000.00 3,373,136.67 2,044,000.00 3,388,500.00 5,668,750.00 3,378,000.00 3,064,500.00 3,986,898.50 3,393,000.00 4,399,333.33 5,700,000.00 3,480,000.00 3,222,375.00 5,323,454.86 8,683,333.33 2,135,958.33 5,322,968.75 3,234,080.00 1,031,111.11 777,063.19 3,213,150.00 1,077,916.66 3,480,000.00 6,753,083.33 3,429,666.67 1,375,088.19 3,464,583.33 3,460,937.50 2,396,250.00 5,900,000.00 2,360,000.00 5,875,000.00 6,012,500.00 6,050,000.00 6,075,000.00 6,050,000.00 2,288,622.22 1 ,052,570.83 2,235,666.67 TERM (Days) 1,096 1,273 133 1,277 1,096 1,277 183 533 1,096 971 1,096 1,827 602 610 609 511 486 637 260 1,181 532 571 1,461 1,311 1,309 336 1,809 1,795 1,798 1,826 1,826 1,826 1,826 1,826 1,826 1,826 551 470 821 m X DC (— 1 COi— i—I ^i INVESTMENT REPORT AS OF MARCH 31, 2008 INVESTMENT DATE 05/15/2007 07/25/2007 08/09/2007 03/05/2008 02/13/2008 07/25/2007 08/09/2007 01/22/2008 01/04/2008 03/13/2008 03/25/2008 05/15/2007 11/01/2006 01/22/2008 08/17/2007 03/14/2007 01/22/2008 02/01/2008 11/13/2007 03/19/2007 03/05/2008 01/22/2008 03/06/2008 01/28/2008 01/31/2008 01/22/2008 01/22/2008 01/22/2008 02/01/2008 02/04/2008 02/04/2008 01/28/2008 01/31/2008 01/28/2008 02/04/2008 02/13/2008 04/07/2006 01/28/2008 07/25/2007 12/21/2007 MATURITY DATE 06/12/2009 06/12/2009 06/12/2009 06/12/2009 07/09/2009 07/20/2009 07/20/2009 07/27/2009 07/30/2009 07/30/2009 07/30/2009 08/01/2009 08/05/2009 08/05/2009 08/17/2009 09/11/2009 09/11/2009 09/11/2009 09/30/2009 10/02/2009 10/23/2009 10/28/2009 11/06/2009 11/13/2009 11/13/2009 11/16/2009 11/18/2009 12/11/2009 01/29/2010 02/04/2010 02/04/2010 02/12/2010 02/12/2010 03/08/2010 03/12/2010 03/12/2010 04/07/2010 04/28/2010 05/03/2010 05/28/2010 TYPE FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA SECURITY FHLB 5.25% DUE 6/12/09 NON-CALL FHLB 5.25% DUE 6/12/09 NON-CALL FHLB 5.250% DUE 6/12/09 NON-CALL FHLB 5.250% DUE 6/12/09 NON-CALL FHLMC 3.25% DUE 7/9/09 NON-CALL FFCB 5.15% DUE 7/20/09 NON-CALL FFCB 5.150% DUE 7/20/09 NON-CALL FHLB 4.180% DUE 7/27/09 NON-CALL FHLMC 4.375% DUE 7/30/09 NON-CALL FHLMC 4.375% DUE 7/30/09 NON-CALL FHLMC 4.375% DUE 7/30/09 NON-CALL HUD 4.430% DUE 8/1/09 NON-CALL FHLB 5.25% DUE 8/05/09 NON-CALL FHLB 5.25% DUE 8/5/09 NON-CALL FFCB 5.00% DUE 8/17/09 NON-CALL FHLB 4.378% DUE 9/11/09 NON-CALL FHLB 4.375% DUE 9/11/09 NON-CALL FHLB 5.25% DUE 9/11/09 NON-CALL FHLMC 3.5$ DUE 9/30/09 NON-CALL FHLB 5.0% DUE 10/2/09 NON-CALL FFCB 5.00% DUE 10/23/09 NON-CALL FNMA 4.0% DUE 10/28/09 NON-CALL FFCB 4.350% DUE 11/06/09 NON-CALL FFCB 4.125% DUE 11/13/09 NON-CALL FHLB 4.25% DUE 11/13/09 NON-CALL FNMA 4.0% DUE 11/16/09 NON-CALL FHLMC 4.125% DUE 11/18/09 NON-CALL FHLB 5.0% DUE 12/11/09 NON-CALL FHLMC 3.25% DUE 1/29/10 CALL 7/29/08 FHLB 3.00% DUE 2/04/10 CALL 11/4/08 FHLB 3.20% DUE 2/4/10 CALL 8/4/08 FHLB 3.875% DUE 2/12/10 NON-CALL FHLB 37.375% DUE 2/12/10 NON-CALL FNMA 4.40% DUE 03/08/10 NON-CALL FHLB 2.375% DUE 3/12/10 NON-CALL FHLB 2.375% DUE 3/12/10 NON-CALL FHLMC 5.270% DUE 4/7/10 CALL 4/7/08 FHLMC 4.02% DUE 4/28/10 NON-CALL FFCB 4.780% DUE 5/03/10 NON-CALL FNMA 3.625% DUE 5/28/10 NON-CALL PAR VALUE 5,000,000.00 2,000,000.00 2,000,000.00 4,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 500,000.00 1,270,000.00 1 ,000,000.00 2,000,000.00 1,000,000.00 5,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 1,000,000.00 1,000,000.00 3,000,000.00 2,000,000.00 500,000.00 1,000,000.00 2,000,000.00 1,000,000.00 2,000,000.00 2,080,000.00 3,000,000.00 3,000,000.00 650,000.00 1,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 1 ,500,000.00 2,000,000.00 2,000,000.00 INVESTED AMOUNT 5,030,000.00 2,006,972.34 2,015,549.68 4,150,240.00 2,020,560.00 1 ,001 ,858.80 2,012,808.76 508,810.00 1 ,286,826.23 1 ,027,740.00 2,052,000.00 990,198.00 5,048,115.85 2,070,366.00 3,000,000.00 1 ,984,643.55 3,070,602.00 1,041,519.37 990,283.25 3,014,820.00 2,090,620.00 508,645.00 1,031,080.00 2,049,060.00 1 ,024,930.00 2,038,020.00 2,124,168.80 3,114,720.00 3,000,000.00 650,000.00 1 ,000,000.00 1,020,550.00 2,177,668.00 2,064,240.00 1 ,989,880.00 1,994,095.84 2,992,699.50 1 ,537,935.00 1 ,981 ,720.00 1,996,499.26 RETURN RATE 4.940% 5.050% 4.800% 2.230% 2.500% 5.050% 4.800% 2.981% 3.500% 2.320% 2.400% 4.900% 4.870% 2.891% 5.000% 4.705% 2.890% 2.600% 4.040% 4.790% 2.160% 2.986% 2.434% 2.711% 2.805% 2.916% 2.918% 2.900% 3.250% 3.000% 3.200% 2.830% 2.841% 2.821% 2.622% 2.520% 5.338% 2.850% 5.135% 3.700% INTEREST 514,687.50 190,485.99 177,825.32 116,343.33 70,801.11 100,425.92 187,755.13 22,830.28 70,530.37 32,659.31 65,881.94 107,754.22 676,675.82 90,925.67 300,000.00 233,377.28 144,137.58 43,073.96 75,536.19 365,596.67 72,713.33 26,688.33 41 ,420.00 98,752.50 50,861.67 107,313.33 112,177.87 168,196.67 194,458.33 39,000.00 64,000.00 58,456.94 122,248.67 121,537.78 110,133.89 104,730.55 639,700.50 97,740.00 283,304.44 180,118.80 INVESTMENT RETURN 5,544,687.50 2,197,458.33 2,193,375.00 4,266,583.33 2,091,361.11 1,102,284.72 2,200,563.89 531,640.28 1,357,356.60 1,060,399.31 2,117,881.94 1 ,097,952.22 5,724,791.67 2,161,291.67 3,300,000.00 2,218,020.83 3,214,739.58 1 ,084,593.33 1,065,819.44 3,380,416.67 2,163,333.33 535,333.33 1 ,072,500.00 2,147,812.50 1,075,791.67 2,145,333.33 2,236,346.67 3,282,916.67 3,194,458.33 689,000.00 1,064,000.00 1 ,079,006.94 2,299,916.67 2,185,777.78 2,100,013.89 2,098,826.39 3,632,400.00 1,635,675.00 2,265,024.44 2,176,618.06 TERM (Days) 759 688 673 464 512 726 711 552 573 504 492 809 1,008 561 731 912 598 588 687 928 597 645 610 655 652 664 666 689 728 731 731 746 743 770 767 758 1,461 821 1,013 889 INVESTMENT REPORT AS OF MARCH 31,2008 INVESTMENT DATE 02/26/2008 10/09/2007 06/30/2006 07/25/2007 03/12/2008 02/20/2008 02/13/2008 10/30/2007 02/12/2008 09/18/2007 09/26/2007 09/26/2007 10/30/2007 11/04/2005 11/14/2005 11/17/2005 12/15/2005 01/07/2008 02/09/2006 02/24/2006 03/29/2006 04/28/2006 05/03/2006 05/17/2006 06/09/2006 11/01/2006 02/20/2008 03/24/2006 04/20/2006 04/28/2006 11/20/2007 01/28/2008 08/31/2007 03/15/2007 06/30/2006 03/09/2007 08/01/2007 08/31/2007 03/19/2007 03/05/2008 MATURITY DATE 06/11/2010 06/22/2010 06/30/2010 07/06/2010 07/26/2010 07/28/2010 07/30/2010 08/10/2010 08/12/2010 08/23/2010 09/10/2010 09/13/2010 10/01/2010 11/04/2010 11/04/2010 11/17/2010 12/15/2010 01/07/2011 02/09/2011 02/24/2011 02/24/201 1 02/24/2011 02/24/2011 02/24/2011 02/24/201 1 02/24/2011 03/11/2011 03/24/201 1 04/06/2011 04/06/201 1 05/20/201 1 05/20/2011 06/10/2011 06/15/2011 06/30/201 1 07/14/2011 07/15/2011 07/15/2011 08/15/2011 08/19/2011 TYPE FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA SECURITY FHLB 4.25% DUE 6/11/10 NON-CALL FHLB 4.5% DUE 6/22/10 NON-CALL FHLMC 5.520% DUE 6/30/10 CALL 6/30/08 FNMA 5.125% DUE 7/6/10 NON-CALL FHLB 4.44% DUE 7/26/10 NON-CALL FNMA 4.70% DUE 7/28/10 NON-CALL FHLB 5.00% DUE 7/30/10 NON-CALL FHLB 4.7% DUE 8/10/10 NON-CALL FHLB 3.190% DUE 8/12/10 CALL 8/12/08 FHLMC 5.125% DUE 8/23/10 NON-CALL FHLB 5.125% DUR 9/10/10 NON-CALL FFCB 5.25% DUE 9/13/10 NON-CALL FHLMC 5.00% DUE 10/01/10 CALL 10/01/08 FHLMC 4.8% DUE 11/04/10 CALL 11/04/08 FHLMC 4.8% DUE 11/04/10 CALL 11/04/08 FHLB 5.03% DUE 11/17/10 CALL 11/17/08 FHLMC 5.035% DUE 12/15/10 CALL 12/15/08 FHLB 4.125% DUE 1/7/11 CALL 1/7/09 FHLB 5.00% DUE 2/9/11 CALL 2/09/09 FHLB 5.15% DUE 2/24/11 CALL 2/24/09 FHLMC 5.25% DUE 2/24/11 CALL 2/24/09 FHLMC 5.25% DUE 2/24/11 CALL 2/24/09 FHLMC 5.25% DUE 2/24/11 CALL 2/24/09 FNMA 5.16% DUE 2/24/11 CALL 24/09 FHLMC 5.25% DUE 2/24/11 CALL 2/24/09 FHLMC 5.25% DUE 2/24/11 CALL 2/24/09 FHLB 2.875% DUE 3/11/11 NON-CALL FHLB 5.25% DUE 3/24/11 CALL 3/24/09 FNMA 5.25% DUE 4/6/11 CALL 4/06/09 FNMA 5.25% DUE 4/6/11 CALL 4/06/09 FHLB 4.5% DUE 5/20/11 CALL 11/20/09 FHLB 4.5% DUE 5/20/11 CALL 11/20/09 FHLB 5.275% DUE 6/10/11 NON-CALL FHLMC 5.03% DUE 6/15/11 CALL 6/15/09 FHLB 5.650% DUE 6/30/11 CALL 6/30/09 FNMA 3.64% DUE 7/14/11 NON-CALL FAMCA 5.50% DUE 7/15/11 NON-CALL FAMCA 5.50% DUE 7/15/11 NON-CALL FHLB 5.75% DUE 8/15/11 NON-CALL FHLB 3.55% DUE 8/19/11 NON-CALL PAR VALUE 1 ,000,000.00 3,000,000.00 3,000,000.00 1,000,000.00 1 ,000,000.00 3,000,000.00 2,550,000.00 1,000,000.00 3,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00 5,000,000.00 3,000,000.00 5,000,000.00 3,320,000.00 3,000,000.00 5,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 5,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 2,421,000.00 2,000,000.00 3,000,000.00 1,000,000.00 5,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 629,000.00 3,000,000.00 1 ,000,000.00 INVESTED AMOUNT 1 ,030,795.00 2,991,510.00 3,000,000.00 1,000,640.00 1,043,000.00 3,134,430.00 2,688,248.25 1,009,328.80 3,000,000.00 3,048,120.00 2,034,188.23 2,041,700.00 3,010,560.00 4,970,500.00 4,945,500.00 5,000,000.00 5,000,000.00 3,000,000.00 5,000,000.00 3,320,000.00 2,991,000.00 4,954,450.00 2,971 ,860.00 2,958,763.29 2,967,775.85 5,015,000.00 2,993,378.76 3,000,000.00 2,976,375.00 2,396,790.00 2,016,000.00 3,078,630.00 1,020,930.00 5,000,000.00 2,000,000.00 1,909,480.00 3,034,380.00 644,775.32 3,111,810.00 1,000,000.00 RETURN RATE 2.849% 4.610% 5.520% 5.100% 2.559% 2.786% 2.710% 4.337% 3.190% 4.530% 4.500% 4.490% 4.868% 4.935% 5.050% 5.030% 5.035% 4.125% 5.000% 5.150% 5.319% 5.466% 5.473% 5.489% 5.510% 5.169% 2.950% 5.250% 5.433% 4.483% 4.252% 3.651% 4.761% 5.030% 5.650% 4.805% 5.175% 4.781% 4.800% 3.550% INTEREST 66,482.78 373,365.00 662,400.00 150,405.14 62,326.67 209,453.33 175,897.58 121,226.76 239,250.00 402,452.92 268,756.21 269,508.33 427,356.67 1,229,500.00 1,247,833.33 1,257,500.00 1 ,258,750.00 371,250.00 1,250,000.00 854,900.00 781,187.50 1,311,383.33 785,452.50 779,546.71 773,786.65 1,117,395.83 270,402.49 787,500.00 805,000.00 651,955.12 299,000.00 368,370.00 181,976.25 1,068,875.00 565,000.00 406,997.78 618,286.67 118,184.21 648,148.33 122,672.22 INVESTMENT RETURN 1 ,097,277.78 3,364,875.00 3,662,400.00 1,151,045.14 1,105,326.67 3,343,883.33 2,864,145.83 1,130,555.56 3,239,250.00 3,450,572.92 2,302,944.44 2,311,208.33 3,437,916.67 6,200,000.00 6,193,333.33 6,257,500.00 6,258,750.00 3,371,250.00 6,250,000.00 4,174,900.00 3,772,187.50 6,265,833.33 3,757,312.50 3,738,310.00 3,741,562.50 6,132,395.83 3,263,781.25 3,787,500.00 3,781,375.00 3,048,745.12 2,315,000.00 3,447,000.00 1,202,906.25 6,068,875.00 2,565,000.00 2,316,477.78 3,652,666.67 762,959.53 3,759,958.33 1,122,672.22 TERM (Days) 836 987 1,461 1,077 866 889 898 1,015 912 1,070 1,080 1,083 1,067 1,826 1,816 1,826 1,826 1,096 1,826 1,826 1,793 1,763 1,758 1,744 1,721 1,576 1,115 1,826 1,812 1,804 1,277 1,208 1,379 1,553 1,826 1,588 1,444 1,414 1,610 1,262 INVESTMENT REPORT AS OF MARCH 31,2008 INVESTMENT DATE 03/05/2007 03/15/2007 10/30/2007 03/15/2007 10/05/2007 12/13/2007 10/19/2007 03/05/2008 03/19/2007 02/13/2008 08/07/2007 03/26/2007 03/26/2007 04/20/2007 08/17/2007 05/21/2007 07/25/2007 08/03/2007 08/17/2007 07/25/2007 07/25/2007 03/18/2008 08/07/2007 12/10/2007 07/20/2007 09/10/2007 10/29/2007 10/29/2007 12/10/2007 10/22/2007 12/14/2007 11/28/2007 12/06/2007 12/14/2007 12/21/2007 12/21/2007 01/23/2008 01/14/2008 01/28/2008 02/04/2008 MATURITY DATE 09/09/2011 09/09/201 1 09/15/2011 10/05/2011 10/05/2011 10/06/2011 10/19/2011 10/27/2011 11/18/2011 02/13/2012 03/02/2012 03/26/2012 03/26/2012 03/26/2012 04/03/2012 04/12/2012 05/23/2012 05/23/2012 05/29/2012 06/08/2012 06/08/2012 06/26/2012 06/29/2012 07/20/2012 07/30/2012 09/10/2012 10/01/2012 10/15/2012 10/17/2012 10/22/2012 10/22/2012 10/30/2012 10/30/2012 11/14/2012 12/21/2012 12/21/2012 01/07/2013 01/14/2013 01/28/2013 01/30/2013 TYPE FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA FA SECURITY FHLB 5.00% DUE 9/9/11 NON-CALL FHLB 5.00% DUE 9/9/11 NON-CALL FHLMC 5.50% DUE 9/15/11 NON-CALL FHLB 4.875% DUE 10/05/11 NON-CALL FHLB 4.9% DUE 10/05/11 CALL 10/05/09 FHLB 5.25% CUE 10/06/11 CALL 10/06/08 FHLB 5.00% DUE 10/19/11 CALL 10/19/09 FHLB 5.30% DUE 10/27/11 CALL 10/27/09 FHLB 4.875% DUE 11 /18/11 NON-CALL FFCB 3.875% DUE 2/13/12 CALL 5/13/08 FNMA 5.375% DUE 3/02/12 CALL 9/2/08 FHLMC 5.0% DUE 3/26/12 CALL 3/26/10 FHLMC 5.0% DUE 3/26/12 CALL 3/26/10 FHLMC 5.0% DUE 3/26/12 CALL 3/26/10 FHLMC 5.25% DUE 4/3/12 CALL FFCB 4.875% DUE 4/12/12 NON-CALL TVA 6.790% DUE 5/23/12 NON-CALL FHLMC 5.65% DUE 5/23/12 CALL 5/23/08 FNMA 5.47% DUE 5/29/12 CALL 5/29/08 FHLB 5.375% DUE 6/8/12 NON-CALL FHLB 5.375% DUE 6/8/12 NON-CALL FHLB 5.750% DUE 6/26/12 CALL 6/26/09 FNMA 5.625% DUE 6/29/12 CALL 12/29/08 FHLB 5.58% DUE 7/20/12 CALL 7/20/10 FHLB 5.52% DUE 7/30/12 CALL 7/30/10 FNMA 5.20% DUE 9/10/12 CALL 9/13/09 FHLMC 5.25% DUE 10/01/12 CALL 10/01/08 FHLMC 5.05% DUE 10/15/12 CALL 10/15/09 FFCB 4.5% DUE 10/17/12 NON-CALL FHLB 5.00% DUE 10/22/12 CALL 4/22/10 FHLB 5.25% DUE 10/22/12 CALL 10/22/08 FNMA 5.00% DUE 10/30/12 CALL 10/30/09 FNMA 5.00% DUE 10/30/12 CALL 10/30/09 FHLB 5.025% DUE 11/14/12 CALL 11/14/08 FHLMC 4.375% DUE 12/21/12 CALL 12/21/09 FHLMC 4.375% DUE 12/21/12 CALL 12/21/09 FHLB 4.7% DUE 1/7/13 CALL 1/7/10 FHLB 4.25% DUE 01/14/13 CALL 10/14/08 FHLB 4.20% DUE 01/28/13 CALL 01/28/09 FHLB 4.35% DUE 1/30/13 CALL 1/30/09 PAR VALUE 2,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 2,000,000.00 1,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 1,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 1 ,770,000.00 1,000,000.00 1,000,000.00 1 ,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 2,000,000.00 5,000,000.00 4,000,000.00 2,000,000.00 3,000,000.00 3,000,000.00 4,000,000.00 INVESTED AMOUNT 2,018,200.00 3,032,352.00 3,117,300.00 3,018,777.00 2,000,000.00 1,009,692.00 3,000,000.00 2,085,000.00 3,009,690.00 998,700.00 1,994,000.00 2,000,000.00 3,000,000.00 999,687.50 2,998,500.00 1,987,880.00 2,130,980.00 1,996,000.00 1,998,000.00 1,005,040.00 1,005,254.43 2,075,680.00 2,005,000.00 1,037,000.00 1,770,000.00 1 ,000,000.00 1,005,781.25 1,006,875.00 2,034,780.00 2,000,000.00 2,008,162.00 3,033,000.00 2,030,000.00 2,006,200.00 5,000,000.00 4,000,000.00 2,056,800.00 3,000,000.00 3,000,000.00 4,040,000.00 RETURN RATE 4.773% 4.730% 4.390% 4.720% 4.900% 4.966% 5.000% 4.033% 4.795% 3.910% 5.449% 5.006% 5.000% 5.000% 5.261% 5.015% 5.235% 5.696% 5.490% 5.255% 5.250% 4.760% 5.564% 4.677% 5.520% 5.200% 5.115% 4.892% 4.100% 5.000% 5.152% 4.746% 4.653% 4.952% 4:675% 4.675% 4.061% 4.250% 4.200% 4.126% INTEREST 432,911.11 640,148.00 522,075.00 647,473.00 392,000.00 190,537.17 600,000.00 301,311.11 672,403.75 156,300.00 497,215.28 500,000.00 750,000.00 246,979.17 730,375.00 489,057.50 524,632.22 547,027.78 525,296.67 256,692.64 256,478.21 415,625.56 545,625.00 220,300.00 488,520.00 260,000.00 252,635.42 243,661.11 401,970.00 500,000.00 501,671.33 705,333.33 460,000.00 487,925.00 1,168,750.00 935,000.00 409,022.22 637,500.00 630,000.00 828,066.67 INVESTMENT RETURN 2,451,111.11 3,672,500.00 3,639,375.00 3,666,250.00 2,392,000.00 1,200,229.17 3,600,000.00 2,386,311.11 3,682,093.75 1,155,000.00 2,491,215.28 2,500,000.00 3,750,000.00 1,246,666.67 3,728,875.00 2,476,937.50 2,655,612.22 2,543,027.78 2,523,296.67 1,261,732.64 1,261,732.64 2,491,305.56 2,550,625.00 1,257,300.00 2,258,520.00 1 ,260,000.00 1,258,416.67 1,250,536.11 2,436,750.00 2,500,000.00 2,509,833.33 3,738,333.33 2,490,000.00 2,494,125.00 6,168,750.00 4,935,000.00 2,465,822.22 3,637,500.00 3,630,000.00 4,868,066.67 TERM (Days) 1,649 1,639 1,416 1,665 1,461 1,393 1,461 1,331 1,705 1,461 1,669 1,827 1,827 1,802 1,691 1,788 1,764 1,755 1,747 1,780 1,780 1,561 1,788 1,684 1,837 1,827 1,799 1,813 1,773 1,827 1,774 1,798 1,790 1,797 1,827 1,827 1,811 1,827 1,827 1,822 INVESTMENT REPORT AS OF MARCH 31,2008 ESTMENT DATE 02/20/2008 03/10/2008 03/18/2008 08/24/2005 12/27/2007 03/02/2008 04/24/2007 05/23/2007 11/03/2006 11/01/2007 01/30/2008 01/31/2008 03/19/2008 11/01/2007 03/19/2008 02/03/2006 01/31/2008 03/16/2007 10/11/2007 09/28/2007 02/17/2006 03/30/2006 06/20/2006 04/19/2006 06/12/2006 04/16/2007 05/21/2007 05/29/2007 03/20/2007 MATURITY DATE 02/20/2013 03/08/2013 03/18/2013 08/11/2008 06/23/2008 03/02/2009 08/03/2009 08/10/2009 09/10/2009 10/27/2009 01/15/2010 01/15/2010 06/15/2010 07/01/2010 07/01/2010 07/29/2010 08/09/2010 08/15/2010 08/15/2010 08/16/2010 02/14/2011 02/14/2011 02/14/2011 03/01/2011 04/28/201 1 04/28/201 1 05/18/2011 11/15/2011 02/15/2012 TYPE FA FA FA FA FN CD CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN CN SECURITY FHLB 4.00% DUE 2/20/13 CALL 2/20/09 FHLB 3.50% DUE 3/8/13 NON-CALL FHLMC 4.00% DUE 3/18/13 CALL 9/18/08 SUB-TOTAL Poinsettia District Investment FFCB 4.3% DUE 08/1 1/08 NON-CALL SUB-TOTAL Federal Investments Total FMCDN DUE 6/23/08 NON-CALL SUB-TOTAL WELLS FARGO BANK 921 891 0637 SUB-TOTAL BANK OF AMERICA 4.625% DUE 8/3/09 NON-CALL WAL-MART 6.875% DUE 8/10/09 NON-CALL MERRILL LYNCH 4.125% DUE 9/10/09 NON-CALL GENERAL ELECTRIC 5.250% DUE 10/27/09 NON-CALL BERKSHIRHATWY 4.125% DUE 1/15/10 NON-CALL BERKSHIRHATWY 4.125% DUE 1/15/10 NON-CALL GOLDMAN SACHS 4.50% DUE 6/15/10 NON-CALL WAL-MART 4.125% DUE 7/01/10 NON-CALL WAL-MART 4.125% DUE 7/01/10 NON-CALL US BANCORP 4.50% DUE 7/29/10 NON-CALL WELLS FARGO 4.625% DUE 08/09/10 NON-CALL WAL-MART 4.75% DUE 8/15/10 NON-CALL WAL-MART 4.75% DUE 8/15/10 NON-CALL NEW YORK LIFE 4.625% DUE 8/16/10 NON-CALL CITIGROUP 5.125% DUE 2/14/11 NON-CALL CITIGROUP 5.125% DUE 2/14/1 1 NON-CALL CITIGROUP 5.125% DUE 2/14/1 1 NON-CALL HOME DEPOT 5.20% DUE 3/1/11 NON-CALL GENERAL ELECTRIC 5.50% DUE 4/28/1 1 NON-CALL GENERAL ELECTRIC 5.50% DUE 4/28/11 NON-CALL TOYOTA 5.450% DUE 5/18/11 NON-CALL GENERAL ELECTRIC 5.50% DUE 11/15/11 CALL 11/15/08 GENERAL ELECTRIC 5.875% DUE 2/15/12 NON-CALL PAR VALUE 4,000,000.00 3,000,000.00 1,000,000.00 423,968,000.00 2,985,000.00 2,985,000.00 426,953,000.00 4,000,000.00 4,000,000.00 33,000.00 33,000.00 2,000,000.00 5,000,000.00 5,000,000.00 2,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 1 ,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 3,000,000.00 2,000,000.00 1 ,000,000.00 5,000,000.00 2,000,000.00 2,000,000.00 3,000,000.00 3,000,000.00 3,000,000.00 4,000,000.00 1,850,000.00 5,956,000.00 INVESTED AMOUNT 4,000,000.00 2,963,940.00 999,000.00 425,876,720.41 2,990,313.30 2,990,313.30 428,867,033.71 3,917,162.78 3,917,162.78 33,000.00 33,000.00 1,983,918.00 5,187,303.82 4,884,751.43 2,030,120.00 2,040,548.16 2,038,582.81 1 ,025,648.53 991,910.00 2,060,389.92 2,952,150.09 2,063,614.72 3,002,689.16 1 ,993,580.00 987,620.00 5,000,000.00 1,991,793.10 1,969,446.60 2,974,590.00 3,006,145.34 3,048,646.38 4,054,280.00 1 ,850,000.00 6,187,688.40 RETURN RATE 4.000% 3.765% 4.022% 4.346% 4.235% 0.030% 4.264% 4.324% 4.324% 1.880% 1 .880% 5.000% 5.060% 5.000% 4.450% 3.050% 3.100% 3.300% 4.448% 2.750% 4.900% 3.300% 4.720% 4.870% 5.090% 5.125% 5.220% 5.500% 5.400% 5.450% 5.050% 5.070% 5.500% 4.970% INTEREST 800,000.00 560,476.67 201,000.00 68,625,001.39 375,116.66 375,116.66 69,000,118.05 82,837.22 82,837.22 13,081.60 13,081.60 226,519.50 573,720.49 703,633.99 178,713.33 121,014.34 122,750.52 75,101.47 118,090.00 127,985.08 653,849.91 169,690.84 483,790.01 276,642.22 145,734.17 1,279,114.58 507,609.68 507,178.40 784,610.00 798,687.99 616,853.62 815,903.33 453,918.06 1,483,867.09 INVESTMENT RETURN 4,800,000.00 3,524,416.67 1,200,000.00 494,501 ,721 .80 3,365,429.96 3,365,429.96 497,867,152 4,000,000.00 4,000,000.00 503,847.08 503,847.08 2,210,437.50 5,761,024.31 5,588,385.42 2,208,833.33 2,161,562.50 2,161,333.33 1,100,750.00 1,110,000.00 2,188,375.00 3,606,000.00 2,233,305.56 3,486,479.17 2,270,222.22 1,133,354.17 6,279,114.58 2,499,402.78 2,476,625.00 3,759,200.00 3,804,833.33 3,665,500.00 4,870,183.33 2,303,918.06 7,671,555.49 TERM (Days) 1,827 1,824 1,826 1,247 1,083 1,083 2,330 179 179 365 365 832 810 1,042 726 716 715 818 973 834 1,637 921 1,248 1,039 1,053 1,823 1,782 1,700 1,777 1,781 1,473 1,458 1,631 1,793 INVESTMENT REPORT AS OF MARCH 31,2008 INVESTMENT MATURITY DATE DATE TYPE SECURITY 10/11/2007 02/15/2012 CN GENERAL ELETRIC 5.875% DUE 2/15/12 NON-CALL 11/15/2007 02/15/2012 CN GENERAL ELETRIC 5.875% DUE 2/15/12 NON-CALL 08/31/2007 06/15/2012 CN GENERAL ELECTRIC 6.00% DUE 6/15/12 NON-CALL 08/31/2007 08/15/2012 CN JOHNSON & JOHNSON 5.15% DUE 8/15/12 NON-CALL 10/31/2007 10/19/2012 CN GENERAL ELECTRIC 5.250% DUE 10/19/12 NON-CALL 11/23/2007 10/19/2012 CN GENERAL ELECTRIC 5.250% DUE 10/19/12 NON-CALL 01/30/2008 10/23/2012 CN WELLS FARGO 5.250% DUE 10/23/12 NON-CALL O WELLS FARGO BANK O CORPORATE CASH MANAGEMENT ACCOUNT O UNION TRUST O L A I F WATER DISTRICT O L A I F PUBLIC IMPROVEMENT CORPORATION O L A I F PUBLIC FINANCING CORPORATION O L A I F CITY OF CARLSBAD CALL CALL •CALL IN-CALL IN-CALL (N-CALL LL SUB-TOTAL M SUB-TOTAL PAR VALUE 3,000,000.00 2,000,000.00 1 ,000,000.00 1,000,000.00 2,000,000.00 2,000,000.00 1,000,000.00 74,806,000.00 480,018.00 2,097,889.40 - 8,111,000.00 6,777,000.00 6,745,000.00 10,209,834.15 34,420,741.55 INVESTED AMOUNT 3,089,347.40 2,089,414.35 1,033,437.31 1,017,457.28 2,036,663.70 2,065,283.50 1,042,814.41 75,699,834.41 480,018.00 2,097,889.40 - 8,111,000.00 6,777,000.00 6,745,000.00 10,209,834.15 34,420,741.55 RETURN RATE 5.100% 4.700% 5.200% 4.750% 4.830% 4.500% 4:240% 4.773% 1.050% 1.050% 1.960% 4.210% 4.210% 4.210% 4.210% 3.973% INTEREST 676,360.93 409,960.65 253,896.02 237,753.83 484,836.30 449,799.83 205,539.76 13,943,125.94 13.81 60.35 - 948.54 792.53 788.79 1,193.98 3,798.00 INVESTMENT RETURN 3,765,708.33 2,499,375.00 1 ,287,333.33 1,255,211.11 2,521 ,500.00 2,515,083.33 1,248,354.17 89,642,960.35 480,031 .81 2,097,949.75 - 8,111,948.54 6,777,792.53 6,745,788.79 10,211,028.13 34,424,539.55 TERM (Days) 1,588 1,553 1,750 1,811 1,815 1,792 1,728 1,354 1 1 1 1 1 1 1 GRAND TOTAL 540,212,741.55 542,937,772.45 4.317% 83,042,960.81 626,438,498.74 Tlto' iCO S8Q. n m best estimate at3CD CD—iCDT3O P, C3 o3 -^ 5 Ooo 3 ^ § § 3•§ s 1 » «3, CO 3, 3 3J »• 1 S' 8 §•a =J Q. o ° o "-a Sog- » s a =i I i. srci Adjustments constsis and the Treasium or discounts aimary. 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Sm M m r * -o m 3z ~io I! rn mxX 00 City of Carlsbad Bond Proceeds Investment Report March 31, 2007 Fund Type Investments Hosp Grove Refunding - 1997 Reserve Account Repub Natl Bank Repo Agreement Assessment District 03-01 Project Fund Redemption Fund (College/Cannon) LAIF LAIF Re-Assessment District 97-01 (Alga Road & College Blvd) Imprvmnt Fund - Alga AIM STIT Treasury Reserve Fund Trinity Plus Investment Agreement Assessment District 95-01 Reserve Fund Assessment District 96-01 Reserve Fund Assessment District 02-01 Improvement Fund EFJPA Reserve Fund (Carlsbad Ranch) Repub Natl Bank Repo Agreement (HSBC) (Rancho Carrillo) Repub Natl Bank Repo Agreement (HSBC) (Poinsettia Lane) AIM AIG Investment Agreement Communities Facilities District #3 Improvement Area 1 Project Fund AIM STIT Treasury Reserve Fund BNY Hamilton Money Market Other BNY Hamilton Money Market Communities Facilities District #3 Improvement Area 2 Project Fund LAIF Reserve Fund BNY Hamilton Money Market Other LAIF/BNY CPFA Golf Course Bonds Capitalized Interest Fund Reserve Fund Other BNY Hamilton Money Market BNY Hamilton Money Market BNY Hamilton Money Market Stated Int. Rate 5.67% 4.18% 4.18% N/A 6.40% 5.83% 6.03% N/A 5.36% N/A 2.94% 2.94% 4.18% 2.95% various 2.95% 2.95% 2.95% Maturity Date 08/01/08 N/A N/A N/A 09/02/1 1 N/A 09/02/28 N/A 08/01/14 N/A 09/01/36 N/A N/A 09/01/38 N/A N/A N/A N/A Par Value $ 659,500 $ $ 912,148 $ $ 210,724 $ $ 272,725 $ $ 892,500 $ $ 821 ,445 $ $ 1 ,292,770 $ $ 6,346,918 $ $ 953,706 $ $ 6,282,792 $ $ 780,159 $ $ 24,005 $ $ 1 1 ,868,736 $ $ 1 ,068,950 $ $ 4,697,583 $ $ 118,032 $ $ 1,238,334 $ $ 4,234 $ $ 38,445,260 $ Cost Fiscal Agent: 659,500 Fiscal Agent: 912,148 210,724 Fiscal Agent: 272,725 892,500 Fiscal Agent: 821 ,445 Fiscal Agent: 1 ,292,770 Fiscal Agent: 6,346,918 Fiscal Agent: 953,706 Fiscal Agent: 6,282,792 780,159 24,005 Fiscal Agent: 11,868,736 1,068,950 4,697,583 Fiscal Agent: 118,032 1,238,334 4,234 38,445,260 Source BNY Western Trust QIC BNY Western Trust LAIF LAIF US Bank AIM Instit. Fund Services JP Morgan/Chase Bank BNY Western Trust HSBC Bank of New York BNY Western Trust HSBC Bank of New York BNY Western Trust AIM Instit. Fund Services BNY Western Trust QIC BNY Western Trust AIM Instit. Fund Services BNY Western Trust BNY Western Trust LAIF BNY Western Trust LAIF/BNY BNY Western Trust BNY Western Trust BNY Western Trust BNY Western Trust X 1C.I—I DO H:\Long Term Debt\Quarterly Investment ReportsVQtr Inv Rpt.xls City of Carlsbad Summary of Outstanding Housing Loans As of March 31,2008 Borrower Individual nomebuyers Individual nomebuyers Individual homebuyers individual nomebuyers Individual homebuyers Individual homebuyers Catholic Charities CB Laurel Tree Apartments CB Housing Partnership Pacific Vista Las Fiores Poinsettia Housing Assoc Bridge Housing Corp Dove Family Housing C!C Calavera LP Individual homebuyers Individual homebuyers El Camino Family Housing Individual homebuyers Individual homebuyers Habitat for Humanity Development City-wide (CHAP) Calavera Hills Cherry Tree Walk Serrano Rancho Carlsbad Solamar Homeless shelter Laurel Tree Rancho Carrillo Vista Las Fiores Poinsettia Station Villa Loma La Costa Paloma Mariposa Apts Mulberry at Bressi Ranch Village by the Sea Cassia Heights Laguna Point The Bluffs Roosevelt St Condos Purpose Sale Sale Sale Sale Sale Sale Shelter Rentals Rentals Rentals Rentals Rentals Rentals Rentals Sale Sale Rentals Sale Sale Sale First date issued 06/28/99 10/15/99 06/28/99 05725/01 05/20/99 09/26/88 09/19/97 12/24/98 03/05/01 02/27/01 10/21/99 1 1/04/94 07/15/03 09/15/04 04/29/05 10/28/05 03/07/06 07/06/06 06/14/07 08/30/07 Loan amount Developer loan Interest # of Loans issued by City Loans issued by City loan Developer due to City amount due to City revenue loans to developers/ Developer to # of loans repaid to loan repaid to (recorded as (not on City's received issued homeowners homeowners outstanding City City AR) books) FY 06/07 Type of Loan 133 5 42 90 22 9 1 2 1 1 1 2 1 1 100 11 1 3 8 1 435 $ S1 ,680.000 % 75,000 453.600 1,350.000 752,533 147,726 200,000 1.134.000 1,157.584 363.948 920,000 2.212.000 2,070.000 1 .060,000 1.840.000 220.000 1,454.276 210,000 200,000 270,925 17,771,593 $ 38 150.000 1 452.600 17 4.050,000 35 15 1 1 2 1 1 1 2 1 1 19,660,200 100 4.087,200 7 1 3 8 1 28,400.000 237 ($1.141.886) S - S538114.11 S (60.000) (120,000) 15,000 (269,992) (259,950) 183,608 (810,167) (2,430.000) 504,934 (256.410) - 496.123 (135,065) - 12.661 200.000 (352,122) - 781.878 1.157,584 363,948 920,000 (1.111,231) - 1,100,769 (452,388) (100,096) 1,517,516 1,060.000 1.840,000 220,000 1,454,276 210.000 200.000 270,925 $(4,589,260) $ (2,910.046) $ 13.047,337 $ Payment deferred 1 5 years No interest is due $ - unless Dome is sold before 16th year Payment deferred 30 years No interest is due 30,000 - unless home is sold before 31th year Payment deferred 30 years No interest is due 192,650 - unless home is sold before 31th year Payment deferred 30 years No interest is due 1,620.000 134,589 unless home is sold before 31th year Pnncipal is due when home is sold Pnncipal is due when home is sold Pnncipal is due when property is sold Pnncipal and 3% interest each year for 30 years when surplus cash is available Principal and 3% interest each year for 55 years when surplus cash is available Principal and 3% interest each year for 55 years when surplus cash is available Principal and 3% interest each year for 55 years when surplus cash is available Principal and 3% interest each year for 1 5 years when surplus cash is available Principal and 3% interest each year for 55 years when surplus cash is available Pnncipal and 3% interest each year for 55 years when surplus cash is available Payment deferred 30 years No interest is due 19,660,200 - unless home is sold before 31th year Payment deferred 30 years. No interest is due 4.087,200 - unless home is sold before 31th year Principal and 3% interest each year for 55 years when surplus cash is available Payment deferred 45 years. No interest is due unless home is sold before 46th year Payment deferred 30 years No interest is due unless home is sold before 31 th year Refer to Agenda Bill 18,569; Resolution 2006-131 25.590,050 $ 134,589 Multiple CHAP loan payments, two pay-offs and three pre-deveiopment loans/re-imbursements to Habat for Humanity regarding the Roosevelt Street condos increased the outstanding loan balance in the Housing Fund by $26,802 during the third quarter of FY2007-08. The outstanding combined loan receivable balance is now $13.047,337. cr V P