Loading...
The URL can be used to link to this page
Your browser does not support the video tag.
Home
My WebLink
About
7-26-16 SA
Successor Agency City of Lake Elsinore Regular Agenda LAKE-ELSINORE.ORG (951) 674-3124 PHONE CULTURAL CENTER 183 N. MAIN STREET LAKE ELSINORE, CA 92530 BRIAN TISDALE, CHAIR ROBERT MAGEE, VICE-CHAIR DARYL HICKMAN, AGENCY MEMBER STEVE MANOS, AGENCY MEMBER NATASHA JOHNSON, AGENCY MEMBER GRANT YATES, EXECUTIVE DIRECTOR Cultural Center7:00 PMTuesday, July 26, 2016 PUBLIC SESSION at 7:00 PM The Successor Agency of Lake Elsinore appreciates your attendance. Citizens’ interest provides the Agency with valuable information regarding issues of the community. Meetings are held on the 2nd and 4th Tuesday of every month. In addition, meetings are televised live on Time Warner Cable Station Channel 29 and Verizon subscribers can view the meetings on Channel 31. If you are attending this Successor Agency Meeting, please park in the parking lot across the street from the Cultural Center. This will assist us in limiting the impact of meetings on the Downtown Business District. Thank you for your cooperation. The agenda is posted at least 72 hours prior to each meeting outside of City Hall and is available at each meeting. The agenda and related reports are also available at City Hall on the Friday prior to the Successor Agency meeting and are available on the City ’s website at www.Lake-Elsinore.org. Any writings distributed within 72 hours of the meeting will be made available to the public at the time it is distributed to the Agency. In compliance with the Americans with Disabilities Act, any person with a disability who requires a modification or accommodation in order to participate in a meeting should contact the City Clerk’s Department at (951) 674-3124 Ext. 269, at least 48 hours before the meeting to make reasonable arrangements to ensure accessibility. CITY VISION STATEMENT The City of Lake Elsinore will be the ultimate lake destination where all can live, work and play, build futures and fulfill dreams. Page 1 City of Lake Elsinore Printed on 7/21/2016 July 26, 2016Successor Agency Regular Agenda CALL TO ORDER - 7:00 P.M. ROLL CALL PUBLIC COMMENTS – NON-AGENDIZED ITEMS – 1 MINUTE (Please read & complete a Request to Address the Successor Agency form prior to the start of the Successor Agency meeting and turn it in to the Clerk. The Chair or Clerk will call on you to speak.) CONSENT CALENDAR (All matters on the Consent Calendar are approved in one motion, unless an Agency Member or any member of the public requests separate action on a specific item.) 1)Warrant List Dated July 14, 2016 Recommendation:Receive and File Warrant List dated July 14, 2016. SA RDA Staff Report 7-26-16 SA RDA Warrant Summary 07 14 16 SA RDA Warrant List 07 14 16 Attachments: 2)Investment Report for June 2016 Recommendation:Receive and file the Investment Report for June 2016. SA RDA Investment SR 2016-06 City Investment Report 2016-06 Attachments: 3)Ratifying Adoption of Resolution Approving Sale of Property to the City of Lake Elsinore, in its Capacity as the Successor to the Housing Assets and Functions of the Former Redevelopment Agency for Affordable Housing Purposes Recommendation:Ratify the adoption of A RESOLUTION OF THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING A PURCHASE AND SALE AGREEMENT FOR THE SALE OF REAL PROPERTY TO THE CITY OF LAKE ELSINORE, IN ITS CAPACITY AS THE SUCCESSOR TO THE HOUSING ASSETS AND FUNCTIONS OF THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE UNDER HEALTH & SAFETY CODE SECTION 34176(a)(1), FOR AFFORDABLE HOUSING PURPOSES IN ACCORDANCE WITH HEALTH & SAFETY CODE SECTION 34176.1(a)(3)(A) SA SR-Ratifying Adoption of Resolution Re Sale of Properties to Housing Fund 072616 SA Reso #2016-00_ Re Purchase & Sale Agt 062816 SA Staff Report - Sale of Properties to Housing Fund 062816 IDs 18 - 21 IDs 25-36 Purchase Sale Agmt Housing Fund 062816 Attachments: Page 2 City of Lake Elsinore Printed on 7/21/2016 July 26, 2016Successor Agency Regular Agenda ADJOURNMENT The Lake Elsinore Successor Agency will adjourn this meeting to the next Regular meeting of Tuesday, August 9, 2016, in the Cultural Center located at 183 N. Main Street, Lake Elsinore. AFFIDAVIT OF POSTING I, Susan M. Domen, Clerk of the Successor Agency, do hereby affirm that a copy of the foregoing agenda was posted at on July 21, 2016, at: _________ p.m. __________________________ Susan M. Domen, MMC Clerk Page 3 City of Lake Elsinore Printed on 7/21/2016 Text File City of Lake Elsinore 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore.org File Number: TMP-1578 Agenda Date: 7/26/2016 Status: Consent AgendaVersion: 1 File Type: ReportIn Control: Successor Agency Agenda Number: 1) Page 1 City of Lake Elsinore Printed on 7/21/2016 REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: HONORABLE AGENCY CHAIRMAN AND MEMBERS OF THE SUCCESSOR AGENCY FROM: GRANT YATES EXECUTIVE DIRECTOR DATE: JULY 26, 2016 SUBJECT: WARRANT LIST DATED JULY 14, 2016 Recommendation Receive and File Warrant List dated July 14, 2016. Discussion The Warrant List is a listing of all general checks issued since the prior Warrant List. Prepared by: Frances Ramirez Account Specialist II Reviewed by: Jason Simpson Administrative Services Director Approved by: Grant Yates City Manager Attachments: Warrant - SR Warrant - Exhibit A Warrant - Exhibit B juLY 14, 2016 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT SUMMARY FUND#FUND DESCRIPTION TOTAL 520 SUCCESSOR TO RDA AREA 2 33,642.00$ 540 SUCCESSOR STADIUM CAPITAL 60,415.92 GRAND TOTAL 94,057.92$ 7/18/2016 Warrant 07 14 16 SA RDA 1 of 1 juLY 14, 2016 SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE WARRANT list CHECK#Vendor Name Amount 126661 CALIFORNIA DEPARTMENT OF FORESTRY 3,769.92$ 126689 LAKE ELSINORE STORM, LP 56,646.00 126692 MCMILLIN SUMMERLY, LLC 33,642.00 GRAND TOTAL 94,057.92$ 7/18/2016 Warrant 07 14 16 SA RDA 1 of 1 Text File City of Lake Elsinore 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore.org File Number: TMP-1581 Agenda Date: 7/26/2016 Status: Consent AgendaVersion: 1 File Type: ReportIn Control: Successor Agency Agenda Number: 2) Page 1 City of Lake Elsinore Printed on 7/21/2016 REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE TO: HONORABLE AGENCY CHAIRMAN AND MEMBERS OF THE SUCCESSOR AGENCY FROM: GRANT M. YATES EXECUTIVE DIRECTOR DATE: JULY 26, 2016 SUBJECT: INVESTMENT REPORT FOR JUNE 2016 Recommendation Receive and file the Investment Report for June 2016. Discussion The Investment Report is a listing of all funds invested for the City of Lake Elsinore and includes funds held for the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore as of the date shown on the report. Additionally, the Review of the Investment Performance for the First Quarter of 2016 is included, followed by a special report regarding the Brexit upheaval. Prepared By: Andrew Zavala Account Specialist II Approved By: Jason P. Simpson Director of Administrative Services Approved By: Grant M. Yates Executive Director Attachments: Investment Report for June 2016 CITY OF LAKE ELSINORE INVESTMENT REPORT BANK DEPOSITS OUTSTANDING BOOK CASH ACCOUNTS BALANCE IN TRANSIT CHECKS BALANCE Bank Accounts: General Checking Account 1,508,198$ 919,803$ (763,653)$ 1,664,349$ Cash On Hand: Cashier Drawers #1 & #2 - - - 300 City of Lake Elsinore Petty Cash Fund - - - 1,000 Total Cash Accounts 1,508,198 919,803 (763,653) 1,665,649 INVESTMENTS City Investments: City Local Agency Investment Fund 18,571,014 - - 18,571,014 City Local Agency Investment Fund for the PFA 329,987 - - 329,987 City CAMP Investments: CAMP Pool Account 76,466 - - 76,466 U.S. Treasury Bond / Note 13,797,640 - - 13,797,640 Municipal Bond / Note 290,464 - - 290,464 Federal Agency Collateralized Mortgage Obligation 530,253 - - 530,253 Federal Agency Bond / Note 3,325,513 - - 3,325,513 Corporate Note 7,094,776 - - 7,094,776 Certificate of Deposit 4,650,000 - - 4,650,000 Housing CAMP Investments: Housing CAMP Pool Account 18,217 - - 18,217 Housing U.S. Treasury Bond / Notes 2,360,568 - - 2,360,568 Housing Municipal Bond / Notes 30,084 - - 30,084 Housing Federal Agency Collateralized Mortgage 95,951 - - 95,951 Housing Federal Agency Bond / Notes 829,781 - - 829,781 Housing Corporate Notes 1,318,456 - - 1,318,456 Housing Certificate of Deposit 400,000 - - 400,000 Successor Investments: Successor Local Agency Investment Fund 3,990,550 - - 3,990,550 Successor CAMP Investments: Successor CAMP Pool Account 15,168 - - 15,168 Successor U.S. Treasury Bond / Notes 2,683,824 - - 2,683,824 Successor Municipal Bond / notes 30,084 - - 30,084 Successor Federal Agency Collaterized Mortgage 95,951 - - 95,951 Successor Federal Agency Bond / Notes 904,711 - - 904,711 Successor Corporate Notes 1,120,612 - - 1,120,612 Successor Certificate of Deposit 400,000 - - 400,000 Sub-total Investments 62,960,068 - - 62,960,068 Market Value Adjustment: Unrealized Gain/ (Loss) at 06-30-15 City 4,631 - - 4,631 Unrealized Gain/ (Loss) at 06-30-15 SARDA 13,632 - - 13,632 Total Unrealized Gain/ (Loss) at 06-30-15 per GASB 31 18,263 - - 18,263 Total Investments 62,978,331 - - 62,978,331 Total Pooled Cash and Investments 64,486,529$ 919,803$ (763,653)$ 64,643,979$ TOTAL POOLED CASH AND INVESTMENTS 64,643,979$ I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 16, 2016. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures. Jason P. Simpson July 18, 2016 Director of Administrative Services Date C I T Y O F L A K E E L S I N O R E INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS AS OF JUNE 30, 2016 Yield Purchase Date Maturity Rate 0.576%Daily 24-Hour Agency Beginning Balance Net Increase/(Decrease)Ending Balance City 20,371,014$ (1,800,000)$ 18,571,014$ City for the PFA 329,987$ -$ 329,987$ Successor Agency 90,550$ 3,900,000$ 3,990,550$ Total Investments Held with Local Agency Investment Fund:20,791,550$ 2,100,000$ 22,891,550$ Note: Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained. LAIF accounts are subject to a $65 million cap per agency. C I T Y O F L A K E E L S I N O R E LOCAL AGENCY INVESTMENT FUND TRANSACTION SUMMARY FOR THE MONTH ENDING JUNE 30, 2016 FUND NO FUND NAME AMOUNT 100 General Fund 9,683,630$ 101 Supplemental Law Enforcement Fund 33,333 104 Traffic Offender Fund 16,605 106 Affordable Housing In Lieu Fund 2,700,606 107 Developer Agreement Revenue 1,471,966 110 State Gas Tax Fund 1,860,973 112 Measure A Fund 918,176 114 SB1186 CASP Education Program Fund 5,645 115 Traffic Safety Fund 187,804 116 City Hall-Public Works DIF Fund 1,140,868 117 Community Center DIF Fund 516,594 118 Lake Side Facility DIF Fund 606,718 120 Camino Del Norte DIF 110 121 T.R.I.P.-2014A 6,265 130 Lighting & Landscape Maintenance Fund - City-wide 55,095 135 Lighting & Landscape Maintenance Fund - Dist. No. 1 455,434 140 Geothermal Fund 19,718 155 CSA152 -- N.P.D.E.S.98,881 160 PEG Grant Fund 12,396 205 Traffic Impact Fee Fund 3,658,667 211 Storm Drain C.I.P. Fund 3,399,212 221 Quimby Park C.I.P. Fund 16,720 231 Library C.I.P. Fund 1,695,021 232 City Fire Protection Fund 201,058 254 AD 89-1 Railroad Canyon Rd. Improvement Fund 126,253 268 CFD 2006-2 Viscaya Improvement 217 269 CFD 2004-3 IA-1 Improvement 250,682 285 CFD 2004-3 IA-2 Improvement 4,318,062 310 Support Service 261,423 320 Facilities Service 112,209 331 CFD 2006-1CC Summerly Improvement Area CC 38,798 332 CFD 2006-1 Improvement Area B, Summerly 13,712 333 CFD 2015-3 Terracina 24,508 334 CFD 2015-5 Trieste - Far West Industries 45,158 342 CFD 2007-5 Red Kite Service Fund 2,674 343 CFD 2006-2S Viscaya Services 41,173 344 CFD 2005-2 Alberhill Ranch Services Fund 113,938 345 CFD 2003-2S Improvement Area D, Canyon Hills 27,765 346 CFD 2014-1 Southshore Debt Service Fund 62,500 347 CFD 2006-1 Improvement Area A, Summerly 19,452 350 CFD 98-1 Summerhill Debt Service Fund 28,149 352 AD 86-1 Debt Service Fund 655,943 354 CFD 90-2 Successor RDA Debt Service Fund 21,274 356 AD 90-1A Debt Service Fund 3 357 CFD 2003-2 Canyon Hills Debt Service Fund 45,125 C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF JUNE 30, 2016 FUND NO FUND NAME AMOUNT C I T Y O F L A K E E L S I N O R E POOLED CASH AND INVESTMENTS BY FUND AS OF JUNE 30, 2016 366 CFD 2005-6 City Center Townhomes Debt Service Fund 33,766 367 CFD 2005-3 Summerly Debt Service Fund 209,520 368 CFD 2006-2 Viscaya Debt Service Fund 34,025 369 CFD 2004-3 Area 1 Rosetta Canyon Debt Service Fund 33,282 371 CFD 2005-1 Serenity Debt Service Fund 22,941 372 CFD 2005-2 Alberhill Ranch Debt Service Fund 13,627 374 CFD 2005-4 Lakeview Villas Debt Service Fund 45,671 375 CFD 2006-4 Tract No. 30698 & 32129 Debt Service Fund 17,102 376 CFD 2006-3 La Strada Debt Service Fund 22,023 377 CFD 2006-6 Tessara Debt Service Fund 10,603 378 CFD 2006-8 Tract No. 31957 Debt Service Fund 41,743 384 CFD 2003-2 Area B Canyon Hills Debt Service Fund 44,676 385 CFD 2004-3 Area 2 Rosetta Canyon Debt Service Fund 41,743 386 CFD 2007-4 Mekenna Debt Service Fund 9,891 387 CFD 2007-5 Red Kite Debt Service Fund 65,376 388 CFD 2007-6 Holiday Inn Debt Service Fund 3,703 389 CFD 88-3 (2008A) West Lake Elsinore Debt Service Fund 29,807 390 CFD 2003-2 Area C Canyon Hills Debt Service Fund 45,810 392 CFD 95-1 City Center Debt Service Fund 22,749 393 AD 93-1 Debt Service Fund 29,128 394 CFD 2005-5 (2012A) Wasson Canyon Debt Service Fund 27,406 510 Successor Agency RDA Area I 973,113 520 Successor Agency RDA Area II 3,121,430 530 Successor Agency RDA Area III 1,635,836 540 Successor Area RDA Diamond Stadium 3,277,783 604 Endowment Trust Fund 31,101 605 Public Improvement Trust Fund 838,639 606 Mobile Source Air Polution Reduction Fund 221,330 608 Trust Deposit & Pre Paid Expense Fund 5,320,039 617 Successor Agency Housing Fund 11,551,333 620 Cost Recovery System Fund 1,144,473 631 Lake Destratification Equipment Replacement Fund 229,360 655 CFD 2015-1s Law, Fire, Paramedic Services 19,186 731 LEPFA 2011 Series B 2,711 734 LEPFA 2013 Series C 409,115 736 LEPFA 2013 Series A 20 780 LEPFA General 93,402 Total Pooled Cash & Investments 64,643,979$ DIVERSIFICATION MAXIMUM TYPES OF SECURITIES PERCENTAGE PERCENTAGE U.S. Treasury Bills 0.00%Unlimited U.S. Treasury Bond / Note 29.93%Unlimited Current Balance 18,842,032$ Municipal Bond / Note 0.56%Unlimited Current Balance 350,632$ Federal Agency Collaterized Mortgage Obligation 1.15%40.00% Current Balance 722,154$ Federal Agency Bond / Note 8.04%*Unlimited Current Balance 5,060,004$ Banker's Acceptance 0.00%40.00% Certificates of Deposit 8.66%25.00% Current Balance 5,450,000$ Negotiable Certificates of Deposit 0.00%30.00% Commercial Paper 0.00%25.00% Corporate Note 15.14%30.00% Current Balance 9,533,844$ Repurchase Agreements 0.00%Unlimited Reverse Repurchase Agreements 0.00%20.00% LAIF (Local Agency Investment Fund)36.36%*$65 Million Current Balance 22,891,550$ CAMP - Pooled Sweep Account 0.17%Unlimited Current Balance 109,850$ TOTAL 100.00%*62,960,068$ Note: Local agencies are only eligible to purchase medium term corporate notes that have a rating of "A" or better by both Moody's Investors Service, Inc., and Standard and Poor's Corporation (S & P). If a security falls below "A" by both rating agencies, then PFM Asset Management LLC will evaluate the need to sell the security prior to maturity. The CAMP Portfolio Summary and Statistics shows the credit quality held by the City's investments. *No more than 40% in any one federal agency. See CAMP Portfolio Statement for listing of agencies. *Investment in LAIF may not exceed $65 million in each agency. *Totals include the City, Housing, and Successor Agency CAMP Portfolios. FOR THE MONTH ENDING JUNE 30, 2016 SUMMARY OF POLICY LIMITATIONS C I T Y O F L A K E E L S I N O R E City Funds CAMP Account For the Month Ending June 30, 2016Account Statement - Transaction Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Opening Market Value Purchases Redemptions Change in Value Closing Market Value 51,284.38 1,315,308.32 (1,290,126.70) 0.00 $76,466.00 CAMP Pool Unsettled Trades 0.00 25.16 Cash Dividends and Income Opening Market Value Purchases Redemptions Change in Value Closing Market Value 29,824,961.73 1,283,264.78 (1,274,267.07) 223,787.42 $30,057,746.86 CAMP Managed Account Unsettled Trades 0.00 38,215.25 Cash Dividends and Income June 30, 2016 May 31, 2016 Asset Summary CAMP Pool 76,466.00 51,284.38 CAMP Managed Account 30,057,746.86 29,824,961.73 $30,134,212.86 $29,876,246.11 Total Asset Allocation 0.25% CAMP Pool 99.75% CAMP Managed Account Page 1 For the Month Ending June 30, 2016Managed Account Summary Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dividend Closing Market Value Redemptions Purchases Opening Market Value Closing Market Value Change in Current Value Unsettled Trades Principal Acquisitions Principal Dispositions Maturities/Calls Opening Market Value Closing Market Value Opening Market Value Account Total Total Cash Basis Earnings Plus Net Realized Gains/Losses Less Purchased Interest Related to Interest/Coupons Interest/Dividends/Coupons Received Earnings Reconciliation (Cash Basis) - Managed Account Dividends Less Beginning Accrued Interest Less Beginning Amortized Value of Securities Less Cost of New Purchases Plus Coupons/Dividends Received Plus Proceeds of Maturities/Calls/Principal Payments Plus Proceeds from Sales Ending Accrued Interest Ending Amortized Value of Securities Earnings Reconciliation (Accrual Basis) Reconciling Transactions Net Cash Contribution Security Purchases Principal Payments Coupon/Interest/Dividend Income Sale Proceeds Maturities/Calls Cash Transactions Summary- Managed Account $51,284.38 1,315,308.32 (1,290,126.70) $76,466.00 25.16 $29,824,961.73 0.00 (1,274,267.07) 1,283,264.78 0.00 223,787.42 $30,057,746.86 $29,876,246.11 $30,134,212.86 41,016.09 (4,385.85) 1,585.01 $38,215.25 0.00 1,277,642.02 37,641.14 0.00 (1,287,650.63) (27,632.53) 0.00 Managed Account Total 29,653,152.19 29,729,618.19 108,004.36 1,277,642.02 0.00 37,641.14 (1,287,650.63) (29,641,013.68) (105,955.50) 0.00 108,004.36 2,567,768.72 0.00 37,641.14 (2,602,958.95) (29,692,298.06) (105,955.50) 25.16 Total Accrual Basis Earnings $41,819.90 $41,845.06 Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance $0.00 Closing Cash Balance Page 2 For the Month Ending June 30, 2016Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Account Summary Percent Par Value Market ValueDescription U.S. Treasury Bond / Note 13,695,000.00 14,041,393.96 46.60 Municipal Bond / Note 290,000.00 296,161.90 0.98 Federal Agency Collateralized Mortgage Obligation 525,000.00 530,748.33 1.76 Federal Agency Bond / Note 3,325,000.00 3,364,807.86 11.17 Corporate Note 7,010,000.00 7,164,215.43 23.77 Certificate of Deposit 4,650,000.00 4,660,419.38 15.47 Managed Account Sub-Total 29,495,000.00 30,057,746.86 99.75% Accrued Interest 108,004.36 Total Portfolio 29,495,000.00 30,165,751.22 CAMP Pool 76,466.00 76,466.00 0.25 Total Investments 29,571,466.00 30,242,217.22 100.00% Unsettled Trades 0.00 0.00 Sector Allocation 15.47% Cert of Deposit 23.77% Corporate Note 1.76% Fed Agency CMO 11.17% Fed Agy Bond / Note 0.25% Mny Mkt Fund 0.98% Muni Bond / Note 46.60% US TSY Bond / Note 0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years 0.26% 12.41% 21.21% 19.41% 25.81% 20.90% 0.00% Maturity Distribution Characteristics Yield to Maturity at Cost Yield to Maturity at Market Duration to Worst Weighted Average Days to Maturity 2.68 1014 1.44% 0.96% Page 3 For the Month Ending June 30, 2016Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Credit Quality (S&P Ratings) 5.63% A 4.30% A+ 3.15% A- 7.64% A-1 1.91% A-1+ 1.77% AA 61.50% AA+ 12.49% AA- 0.25% AAAm 1.36% BBB+ Issuer Summary Percentof HoldingsIssuer Market Value 203,548.00 0.68 AMERICAN EXPRESS CO 593,716.25 1.97 AMERICAN HONDA FINANCE 310,762.91 1.03 APPLE INC 310,865.70 1.03 BANK OF NEW YORK CO INC 577,972.75 1.92 BANK OF NOVA SCOTIA 152,197.35 0.51 BB&T CORPORTATION 404,642.80 1.34 BERKSHIRE HATHAWAY INC 165,859.35 0.55 BURLINGTON NORTHERN SANTA FE 76,466.00 0.25 CAMP Pool 575,132.25 1.91 CANADIAN IMPERIAL BANK OF COMMERCE 770,676.98 2.56 CHEVRON CORP 585,425.34 1.94 CISCO SYSTEMS INC 105,722.72 0.35 CITIGROUP INC 435,856.95 1.45 DEERE & COMPANY 3,233,929.21 10.73 FANNIE MAE 661,626.98 2.20 FREDDIE MAC 285,755.00 0.95 GENERAL ELECTRIC CO 303,077.70 1.01 GOLDMAN SACHS GROUP INC 824,864.25 2.74 HSBC HOLDINGS PLC 251,548.75 0.83 IBM CORP 592,498.40 1.97 JP MORGAN CHASE & CO 575,287.50 1.91 NORDEA BANK AB 574,931.00 1.91 RABOBANK NEDERLAND 579,482.13 1.92 ROYAL BANK OF CANADA 575,609.50 1.91 SKANDINAVISKA ENSKIDA BANKEN AB 168,318.15 0.56 STATE OF CONNECTICUT 75,942.68 0.25 STATE STREET CORPORATION 626,693.75 2.08 TORONTO-DOMINION BANK 205,579.40 0.68 TOYOTA MOTOR CORP 14,041,393.96 46.59 UNITED STATES TREASURY 127,843.75 0.42 UNIVERSITY OF CALIFORNIA 703,351.60 2.33 US BANCORP Page 4 For the Month Ending June 30, 2016Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Percentof HoldingsIssuer Market Value 457,633.80 1.52 WELLS FARGO & COMPANY $30,134,212.86 Total 100.00% Page 5 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 11/30/2012 0.625% 11/30/2017 525,430.50 520,939.42 277.92 514,910.15 05/09/1405/06/14AaaAA+ 525,000.00 912828UA6 1.18 US TREASURY NOTES DTD 04/15/2015 0.750% 04/15/2018 300,808.50 299,541.34 473.36 299,496.09 04/27/1604/22/16AaaAA+ 300,000.00 912828K25 0.84 US TREASURY NOTES DTD 07/31/2013 1.375% 07/31/2018 888,740.13 883,171.40 5,024.04 888,603.52 02/04/1502/02/15AaaAA+ 875,000.00 912828VQ0 0.92 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 375,275.46 368,588.80 391.73 367,412.89 06/03/1406/02/14AaaAA+ 370,000.00 912828A34 1.41 US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 164,012.48 160,107.12 653.55 160,175.00 09/04/1409/02/14AaaAA+ 160,000.00 912828C65 1.60 US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 589,419.85 575,558.60 2,348.70 575,898.44 10/06/1410/02/14AaaAA+ 575,000.00 912828C65 1.59 US TREASURY NOTES DTD 05/15/2009 3.125% 05/15/2019 432,875.34 423,409.64 1,616.42 433,698.05 11/03/1410/30/14AaaAA+ 405,000.00 912828KQ2 1.50 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 302,238.30 297,109.70 754.10 296,097.66 04/30/1504/28/15AaaAA+ 300,000.00 912828TR1 1.30 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 836,192.63 818,948.93 2,086.34 814,534.76 02/27/1502/26/15AaaAA+ 830,000.00 912828TR1 1.42 US TREASURY NOTES DTD 09/30/2014 1.750% 09/30/2019 1,289,111.25 1,264,080.74 5,498.63 1,269,384.77 03/27/1503/26/15AaaAA+ 1,250,000.00 912828F39 1.39 US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 1,056,849.15 1,034,522.51 889.34 1,029,738.28 05/29/1505/28/15AaaAA+ 1,050,000.00 912828UB4 1.44 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 558,207.10 545,749.70 2,297.89 544,822.27 09/03/1509/02/15AaaAA+ 550,000.00 912828UQ1 1.47 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 1,167,160.30 1,137,713.99 4,804.69 1,135,625.00 11/09/1511/05/15AaaAA+ 1,150,000.00 912828UQ1 1.55 US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 600,088.98 584,555.15 4,802.20 585,848.63 12/04/1512/01/15AaaAA+ 575,000.00 912828VP2 1.58 Page 6 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 1,101,269.40 1,066,293.90 7,457.71 1,068,169.92 12/30/1512/28/15AaaAA+ 1,050,000.00 912828VV9 1.74 US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 868,251.72 854,258.71 2,476.63 855,553.13 02/03/1602/01/16AaaAA+ 840,000.00 912828WC0 1.35 US TREASURY NOTES DTD 11/15/2010 2.625% 11/15/2020 42,856.24 42,399.76 134.10 42,481.25 05/06/1605/03/16AaaAA+ 40,000.00 912828PC8 1.21 US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 705,348.68 692,996.49 1,143.44 694,274.41 03/04/1603/02/16AaaAA+ 675,000.00 912828A42 1.38 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 398,085.75 392,867.51 24.20 393,837.89 03/31/1603/30/16AaaAA+ 375,000.00 912828A83 1.28 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 827,531.20 814,088.37 38.04 814,343.75 05/31/1605/27/16AaaAA+ 800,000.00 912828N48 1.35 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 1,011,641.00 1,012,720.14 3,142.08 1,012,734.38 06/29/1606/27/16AaaAA+ 1,000,000.00 912828Q37 0.98 46,335.11 14,041,393.96 13,789,621.92 1.37 13,797,640.24 13,695,000.00 Security Type Sub-Total Municipal Bond / Note UNIV OF CAL TXBL REV BONDS DTD 04/10/2014 1.904% 05/15/2018 127,843.75 125,000.00 304.11 125,000.00 04/10/1404/04/14Aa2AA 125,000.00 91412GUV5 1.90 CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 168,318.15 165,319.22 959.04 165,463.65 03/25/1503/16/15Aa3AA- 165,000.00 20772JZK1 1.90 1,263.15 296,161.90 290,319.22 1.90 290,463.65 290,000.00 Security Type Sub-Total Federal Agency Collateralized Mortgage Obligation FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 136,094.22 135,723.70 174.38 136,349.51 04/30/1504/15/15AaaAA+ 135,000.00 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 126,802.79 125,971.14 197.74 126,249.99 11/30/1511/06/15AaaAA+ 125,000.00 3136AQSW1 1.20 Page 7 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Collateralized Mortgage Obligation FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 267,851.32 267,128.54 363.49 267,653.68 10/30/1510/07/15AaaAA+ 265,000.00 3136AQDQ0 1.08 735.61 530,748.33 528,823.38 1.05 530,253.18 525,000.00 Security Type Sub-Total Federal Agency Bond / Note FREDDIE MAC GLOBAL NOTES DTD 08/10/2012 1.000% 09/29/2017 276,315.60 275,743.34 702.78 277,934.25 10/05/1210/04/12AaaAA+ 275,000.00 3137EADL0 0.78 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 401,583.20 397,656.10 388.89 393,940.00 05/31/1305/24/13AaaAA+ 400,000.00 3135G0WJ8 1.19 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 577,275.85 573,131.76 559.03 570,141.25 05/24/1305/22/13AaaAA+ 575,000.00 3135G0WJ8 1.05 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 357,450.45 350,006.46 537.15 350,010.50 06/19/1406/16/14AaaAA+ 350,000.00 3135G0YT4 1.62 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 638,304.38 628,530.20 959.20 630,937.50 10/23/1410/22/14AaaAA+ 625,000.00 3135G0YT4 1.39 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 728,567.00 723,488.37 2,517.36 723,289.00 02/23/1602/19/16AaaAA+ 725,000.00 3135G0J53 1.08 FREDDIE MAC NOTES DTD 04/16/2012 1.750% 05/30/2019 385,311.38 377,795.69 565.10 379,260.00 12/03/1412/01/14AaaAA+ 375,000.00 3137EADG1 1.49 6,229.51 3,364,807.86 3,326,351.92 1.23 3,325,512.50 3,325,000.00 Security Type Sub-Total Corporate Note US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 703,351.60 700,000.00 1,475.83 714,952.00 07/30/1207/25/12A1A+ 700,000.00 91159HHD5 1.19 JOHN DEERE CAPITAL CORP NOTES DTD 06/12/2014 1.125% 06/12/2017 435,856.95 434,934.70 258.28 434,795.55 06/12/1406/09/14A2A 435,000.00 24422ESN0 1.14 HSBC USA INC DTD 06/23/2014 1.300% 06/23/2017 249,553.75 249,874.47 72.22 249,620.00 06/23/1406/16/14A2A 250,000.00 40434CAA3 1.35 Page 8 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 150,247.80 150,000.00 119.60 150,000.00 12/05/1211/28/12Aa2AA- 150,000.00 166764AA8 1.10 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 175,289.10 175,263.68 139.53 175,946.75 12/05/1211/29/12Aa2AA- 175,000.00 166764AA8 0.99 IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 251,548.75 249,624.64 1,241.32 248,855.00 02/08/1302/05/13Aa3AA- 250,000.00 459200HK0 1.35 BERKSHIRE HATHAWAY GLOBAL NOTE DTD 02/11/2013 1.550% 02/09/2018 404,642.80 399,816.47 2,445.56 399,444.00 02/11/1301/29/13Aa2AA 400,000.00 084670BH0 1.58 APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 310,762.91 309,572.22 499.44 308,856.10 05/03/1304/30/13Aa1AA+ 310,000.00 037833AJ9 1.08 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 445,140.08 440,000.00 146.98 440,000.00 06/24/1306/17/13Aa2AA- 440,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 277,306.74 271,548.91 1,912.50 272,565.00 09/04/1408/29/14A1AA- 270,000.00 17275RAR3 1.90 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 308,118.60 302,167.40 2,125.00 302,817.00 09/04/1509/01/15A1AA- 300,000.00 17275RAR3 1.85 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 50,512.95 49,869.27 183.33 49,861.00 04/25/1604/20/16A3BBB+ 50,000.00 38141GVT8 2.10 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 252,564.75 249,849.42 916.67 249,840.00 04/26/1604/21/16A3BBB+ 250,000.00 38141GVT8 2.02 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 105,722.72 104,946.48 131.54 104,945.40 06/09/1606/02/16Baa1BBB+ 105,000.00 172967KS9 2.07 AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 593,716.25 574,310.35 4,887.50 573,936.25 09/09/1409/04/14A1A+ 575,000.00 02665WAH4 2.29 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 165,859.35 165,291.68 1,762.50 165,585.00 06/08/1606/03/16A3A 150,000.00 12189TBC7 1.48 Page 9 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note GENERAL ELECTRIC CAP CORP NOTES DTD 01/08/2010 5.500% 01/08/2020 285,755.00 279,113.65 6,607.64 289,082.50 03/25/1503/20/15A1AA+ 250,000.00 36962G4J0 2.05 WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 76,272.30 75,216.33 676.35 75,288.00 03/27/1503/24/15A2A 75,000.00 94974BGF1 2.07 WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 381,361.50 376,908.40 3,381.77 377,621.25 02/05/1502/02/15A2A 375,000.00 94974BGF1 2.00 TOYOTA MOTOR CORP NOTES DTD 03/12/2015 2.150% 03/12/2020 205,579.40 201,340.85 1,301.94 201,776.00 03/27/1503/23/15Aa3AA- 200,000.00 89236TCF0 1.96 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 592,498.40 577,394.75 351.39 577,857.75 09/04/1509/01/15A3A- 575,000.00 46625HLW8 2.64 BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 310,865.70 306,822.61 2,750.00 306,978.00 05/19/1605/16/16A1A 300,000.00 06406FAA1 2.00 AMERICAN EXPRESS CREDIT CORP NOTES DTD 05/05/2016 2.250% 05/05/2021 203,548.00 199,543.94 700.00 199,536.00 05/31/1605/25/16A2A- 200,000.00 0258M0EB1 2.30 BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 152,197.35 149,903.43 435.63 149,901.00 05/16/1605/10/16A2A- 150,000.00 05531FAV5 2.06 STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 75,942.68 74,722.10 170.63 74,716.50 05/24/1605/19/16A1A 75,000.00 857477AV5 2.03 34,693.15 7,164,215.43 7,068,035.75 1.77 7,094,776.05 7,010,000.00 Security Type Sub-Total Certificate of Deposit CANADIAN IMPERIAL BANK NY YCD DTD 04/10/2015 1.010% 04/06/2017 575,132.25 575,000.00 1,371.22 575,000.00 04/10/1504/06/15P-1A-1 575,000.00 13606JYY9 1.01 RABOBANK NEDERLAND NV CERT DEPOS DTD 04/27/2015 1.070% 04/21/2017 574,931.00 575,000.00 1,196.32 575,000.00 04/27/1504/22/15P-1A-1 575,000.00 21684BXH2 1.07 NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 575,287.50 575,000.00 661.25 575,000.00 05/29/1505/27/15Aa3AA- 575,000.00 65558LFA5 1.15 Page 10 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Certificate of Deposit TORONTO DOMINION BANK NY YCD DTD 06/19/2015 1.240% 06/16/2017 626,693.75 625,000.00 236.81 625,000.00 06/19/1506/16/15Aa1AA- 625,000.00 89113ESN7 1.25 BANK OF NOVA SCOTIA HOUSTON YCD DTD 11/09/2015 1.560% 11/06/2017 577,972.75 575,000.00 1,370.42 575,000.00 11/09/1511/06/15P-1A-1 575,000.00 06417GAS7 1.55 SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 575,609.50 575,000.00 5,366.03 575,000.00 11/17/1511/16/15P-1A-1 575,000.00 83050FBG5 1.48 HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 575,310.50 575,000.00 5,558.97 575,000.00 11/18/1511/17/15P-1A-1+ 575,000.00 40428AR58 1.54 ROYAL BANK OF CANADA NY CD DTD 03/11/2016 1.700% 03/09/2018 579,482.13 575,000.00 2,986.81 575,000.00 03/15/1603/11/16Aa3AA- 575,000.00 78009NZZ2 1.69 18,747.83 4,660,419.38 4,650,000.00 1.34 4,650,000.00 4,650,000.00 Security Type Sub-Total 29,495,000.00 29,688,645.62 1.44 108,004.36 29,653,152.19 30,057,746.86 Managed Account Sub-Total Money Market Fund CAMP Pool 76,466.00 76,466.00 0.00 76,466.00 NRAAAm 76,466.00 76,466.00 76,466.00 0.00 76,466.00 76,466.00 Money Market Sub-Total $29,571,466.00 $29,765,111.62 $108,004.36 $29,729,618.19 $30,134,212.86 1.44% $30,242,217.22 $108,004.36 Total Investments Accrued Interest Securities Sub-Total Page 11 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/Description Next Call Market YTMEffective Duration U.S. Treasury Bond / Note 1.41 4,491.08 10,520.35 525,430.50 100.08 MERRILL 525,000.00 912828UA6US TREASURY NOTES DTD 11/30/2012 0.625% 11/30/2017 0.57 1.41 1.78 1,267.16 1,312.41 300,808.50 100.27 MORGANST 300,000.00 912828K25US TREASURY NOTES DTD 04/15/2015 0.750% 04/15/2018 0.60 1.78 2.05 5,568.73 136.61 888,740.13 101.57 BARCLAYS 875,000.00 912828VQ0US TREASURY NOTES DTD 07/31/2013 1.375% 07/31/2018 0.62 2.05 2.38 6,686.66 7,862.57 375,275.46 101.43 CITIGRP 370,000.00 912828A34US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 0.65 2.38 2.68 3,905.36 3,837.48 164,012.48 102.51 CITIGRP 160,000.00 912828C65US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 0.70 2.68 2.68 13,861.25 13,521.41 589,419.85 102.51 MERRILL 575,000.00 912828C65US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 0.70 2.68 2.76 9,465.70 (822.71) 432,875.34 106.88 MERRILL 405,000.00 912828KQ2US TREASURY NOTES DTD 05/15/2009 3.125% 05/15/2019 0.70 2.76 3.19 5,128.60 6,140.64 302,238.30 100.75 MERRILL 300,000.00 912828TR1US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 0.77 3.19 3.19 17,243.70 21,657.87 836,192.63 100.75 JPMCHASE 830,000.00 912828TR1US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 0.77 3.19 3.15 25,030.51 19,726.48 1,289,111.25 103.13 JPMCHASE 1,250,000.00 912828F39US TREASURY NOTES DTD 09/30/2014 1.750% 09/30/2019 0.77 3.15 3.35 22,326.64 27,110.87 1,056,849.15 100.65 CITIGRP 1,050,000.00 912828UB4US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 0.81 3.35 3.57 12,457.40 13,384.83 558,207.10 101.49 MERRILL 550,000.00 912828UQ1US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 0.84 3.57 3.57 29,446.31 31,535.30 1,167,160.30 101.49 CITIGRP 1,150,000.00 912828UQ1US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 0.84 3.57 3.90 15,533.83 14,240.35 600,088.98 104.36 MERRILL 575,000.00 912828VP2US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 0.91 3.90 3.97 34,975.50 33,099.48 1,101,269.40 104.88 MORGANST 1,050,000.00 912828VV9US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 0.93 3.97 4.16 13,993.01 12,698.59 868,251.72 103.36 MERRILL 840,000.00 912828WC0US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 0.96 4.16 4.14 456.48 374.99 42,856.24 107.14 HSBC 40,000.00 912828PC8US TREASURY NOTES DTD 11/15/2010 2.625% 11/15/2020 0.95 4.14 Page 12 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/Description Next Call Market YTMEffective Duration U.S. Treasury Bond / Note 4.23 12,352.19 11,074.27 705,348.68 104.50 MERRILL 675,000.00 912828A42US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 0.96 4.23 4.28 5,218.24 4,247.86 398,085.75 106.16 MERRILL 375,000.00 912828A83US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 0.97 4.28 4.33 13,442.83 13,187.45 827,531.20 103.44 MORGANST 800,000.00 912828N48US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 0.97 4.33 4.59 (1,079.14)(1,093.38) 1,011,641.00 101.16 CITIGRP 1,000,000.00 912828Q37US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 1.00 4.59 243,753.72 0.82 3.42 251,772.04 14,041,393.96 13,695,000.00 Security Type Sub-Total 3.42 Municipal Bond / Note 1.84 2,843.75 2,843.75 127,843.75 102.28 GOLDMAN 125,000.00 91412GUV5UNIV OF CAL TXBL REV BONDS DTD 04/10/2014 1.904% 05/15/2018 0.68 1.84 2.62 2,998.93 2,854.50 168,318.15 102.01 VINING 165,000.00 20772JZK1CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 1.22 2.62 5,698.25 0.99 2.28 5,842.68 296,161.90 290,000.00 Security Type Sub-Total 2.28 Federal Agency Collateralized Mortgage Obligation 1.57 370.52 (255.29) 136,094.22 100.81 GOLDMAN 135,000.00 3136ANJY4FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 0.97 1.60 2.27 831.65 552.80 126,802.79 101.44 GOLDMAN 125,000.00 3136AQSW1FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 1.21 1.88 2.94 722.78 197.64 267,851.32 101.08 MORGANST 265,000.00 3136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 1.24 2.15 495.15 1.17 2.43 1,924.95 530,748.33 525,000.00 Security Type Sub-Total 1.94 Federal Agency Bond / Note 1.24 572.26 (1,618.65) 276,315.60 100.48 JEFFERIE 275,000.00 3137EADL0FREDDIE MAC GLOBAL NOTES DTD 08/10/2012 1.000% 09/29/2017 0.61 1.24 1.87 3,927.10 7,643.20 401,583.20 100.40 CSFB 400,000.00 3135G0WJ8FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 0.66 1.87 Page 13 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/Description Next Call Market YTMEffective Duration Federal Agency Bond / Note 1.87 4,144.09 7,134.60 577,275.85 100.40 BNP PARI 575,000.00 3135G0WJ8FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 0.66 1.87 2.36 7,443.99 7,439.95 357,450.45 102.13 HSBC 350,000.00 3135G0YT4FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 0.73 2.36 2.36 9,774.18 7,366.88 638,304.38 102.13 GOLDMAN 625,000.00 3135G0YT4FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 0.73 2.36 2.61 5,078.63 5,278.00 728,567.00 100.49 JPMCHASE 725,000.00 3135G0J53FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 0.81 2.61 2.84 7,515.69 6,051.38 385,311.38 102.75 TD SEC U 375,000.00 3137EADG1FREDDIE MAC NOTES DTD 04/16/2012 1.750% 05/30/2019 0.79 2.84 39,295.36 0.73 2.23 38,455.94 3,364,807.86 3,325,000.00 Security Type Sub-Total 2.23 Corporate Note 0.78 3,351.60 (11,600.40) 703,351.60 100.48 04/15/17BARCLAYS 700,000.00 91159HHD5US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 1.10 0.66 0.94 922.25 1,061.40 435,856.95 100.20 HSBC 435,000.00 24422ESN0JOHN DEERE CAPITAL CORP NOTES DTD 06/12/2014 1.125% 06/12/2017 0.92 0.94 0.97 (320.72)(66.25) 249,553.75 99.82 HSBC 250,000.00 40434CAA3HSBC USA INC DTD 06/23/2014 1.300% 06/23/2017 1.48 0.97 1.33 247.80 247.80 150,247.80 100.17 11/05/17MORGANST 150,000.00 166764AA8CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 0.99 1.28 1.33 25.42 (657.65) 175,289.10 100.17 11/05/17BARCLAYS 175,000.00 166764AA8CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 0.99 1.28 1.58 1,924.11 2,693.75 251,548.75 100.62 HSBC 250,000.00 459200HK0IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 0.86 1.58 1.58 4,826.33 5,198.80 404,642.80 101.16 GOLDMAN 400,000.00 084670BH0BERKSHIRE HATHAWAY GLOBAL NOTE DTD 02/11/2013 1.550% 02/09/2018 0.82 1.58 1.82 1,190.69 1,906.81 310,762.91 100.25 GOLDMAN 310,000.00 037833AJ9APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 0.86 1.82 1.95 5,140.08 5,140.08 445,140.08 101.17 BARCLAYS 440,000.00 166764AE0CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 1.12 1.95 Page 14 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/Description Next Call Market YTMEffective Duration Corporate Note 2.58 5,757.83 4,741.74 277,306.74 102.71 BONY 270,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 1.09 2.58 2.58 5,951.20 5,301.60 308,118.60 102.71 BNP PARI 300,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 1.09 2.58 2.65 643.68 651.95 50,512.95 101.03 03/25/19GOLDMAN 50,000.00 38141GVT8GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 1.63 2.67 2.65 2,715.33 2,724.75 252,564.75 101.03 03/25/19MIZUHO 250,000.00 38141GVT8GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 1.63 2.67 2.84 776.24 777.32 105,722.72 100.69 CITIGRP 105,000.00 172967KS9CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 1.81 2.84 3.00 19,405.90 19,780.00 593,716.25 103.26 MERRILL 575,000.00 02665WAH4AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 1.19 3.00 3.01 567.67 274.35 165,859.35 110.57 GOLDMAN 150,000.00 12189TBC7BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 1.37 3.01 3.18 6,641.35 (3,327.50) 285,755.00 114.30 GOLDMAN 250,000.00 36962G4J0GENERAL ELECTRIC CAP CORP NOTES DTD 01/08/2010 5.500% 01/08/2020 1.33 3.18 3.41 1,055.97 984.30 76,272.30 101.70 1ST TENN 75,000.00 94974BGF1WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 1.66 3.41 3.41 4,453.10 3,740.25 381,361.50 101.70 JEFFERIE 375,000.00 94974BGF1WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 1.66 3.41 3.53 4,238.55 3,803.40 205,579.40 102.79 HSBC 200,000.00 89236TCF0TOYOTA MOTOR CORP NOTES DTD 03/12/2015 2.150% 03/12/2020 1.37 3.53 3.69 15,103.65 14,640.65 592,498.40 103.04 05/23/20JPMCHASE 575,000.00 46625HLW8JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 1.95 3.72 4.48 4,043.09 3,887.70 310,865.70 103.62 KEYBAN 300,000.00 06406FAA1BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 1.71 4.48 4.56 4,004.06 4,012.00 203,548.00 101.77 KEYBAN 200,000.00 0258M0EB1AMERICAN EXPRESS CREDIT CORP NOTES DTD 05/05/2016 2.250% 05/05/2021 1.87 4.56 4.60 2,293.92 2,296.35 152,197.35 101.46 SCOTIA 150,000.00 05531FAV5BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 1.73 4.60 Page 15 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Security Type/Description Next Call Market YTMEffective Duration Corporate Note 4.64 1,220.58 1,226.18 75,942.68 101.26 GOLDMAN 75,000.00 857477AV5STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 1.68 4.64 69,439.38 1.30 2.48 96,179.68 7,164,215.43 7,010,000.00 Security Type Sub-Total 2.47 Certificate of Deposit 0.76 132.25 132.25 575,132.25 100.02 GOLDMAN 575,000.00 13606JYY9CANADIAN IMPERIAL BANK NY YCD DTD 04/10/2015 1.010% 04/06/2017 0.97 0.76 0.80 (69.00)(69.00) 574,931.00 99.99 GOLDMAN 575,000.00 21684BXH2RABOBANK NEDERLAND NV CERT DEPOS DTD 04/27/2015 1.070% 04/21/2017 1.07 0.80 0.90 287.50 287.50 575,287.50 100.05 MERRILL 575,000.00 65558LFA5NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 1.08 0.90 0.97 1,693.75 1,693.75 626,693.75 100.27 TD SEC U 625,000.00 89113ESN7TORONTO DOMINION BANK NY YCD DTD 06/19/2015 1.240% 06/16/2017 0.96 0.97 1.35 2,972.75 2,972.75 577,972.75 100.52 UBS AG 575,000.00 06417GAS7BANK OF NOVA SCOTIA HOUSTON YCD DTD 11/09/2015 1.560% 11/06/2017 1.15 1.35 1.38 609.50 609.50 575,609.50 100.11 GOLDMAN 575,000.00 83050FBG5SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 0.33 1.38 1.38 310.50 310.50 575,310.50 100.05 HSBC 575,000.00 40428AR58HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 0.93 1.38 1.68 4,482.13 4,482.13 579,482.13 100.78 RBC CAP 575,000.00 78009NZZ2ROYAL BANK OF CANADA NY CD DTD 03/11/2016 1.700% 03/09/2018 1.21 1.68 10,419.38 0.96 1.15 10,419.38 4,660,419.38 4,650,000.00 Security Type Sub-Total 1.15 29,495,000.00 30,057,746.86 369,101.24 404,594.67 2.68 0.96 Managed Account Sub-Total 2.67 Money Market Fund 0.00 0.00 0.00 76,466.00 1.00 76,466.00 CAMP Pool 0.00 76,466.00 76,466.00 0.00 0.00 0.00 Money Market Sub-Total 0.00 Page 16 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Investments $30,242,217.22 $108,004.36 $30,134,212.86 Accrued Interest Securities Sub-Total $29,571,466.00 $369,101.24 $404,594.67 2.68 0.96% 2.67 Page 17 For the Month Ending June 30, 2016Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method BUY 06/09/16 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 172967KS9 (104,945.40) 0.00 (104,945.40) 105,000.00 06/02/16 06/08/16 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 12189TBC7 (165,585.00)(1,312.08)(166,897.08) 150,000.00 06/03/16 06/29/16 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 912828Q37 (1,012,734.38)(3,073.77)(1,015,808.15) 1,000,000.00 06/27/16 (4,385.85) (1,287,650.63)(1,283,264.78) 1,255,000.00 Transaction Type Sub-Total INTEREST 06/25/16 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 3136AQSW1 0.00 197.72 197.72 125,000.00 06/01/16 06/25/16 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 3136AQDQ0 0.00 363.49 363.49 265,000.00 06/01/16 06/25/16 FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 3136ANJY4 0.00 174.38 174.38 135,000.00 06/01/16 06/05/16 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 166764AA8 0.00 966.00 966.00 175,000.00 06/05/16 06/05/16 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 166764AA8 0.00 828.00 828.00 150,000.00 06/05/16 06/12/16 JOHN DEERE CAPITAL CORP NOTES DTD 06/12/2014 1.125% 06/12/2017 24422ESN0 0.00 2,446.88 2,446.88 435,000.00 06/12/16 06/20/16 TORONTO DOMINION BANK NY YCD DTD 06/19/2015 1.240% 06/16/2017 89113ESN7 0.00 7,900.69 7,900.69 625,000.00 06/20/16 06/23/16 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 46625HLW8 0.00 7,906.25 7,906.25 575,000.00 06/23/16 06/23/16 HSBC USA INC DTD 06/23/2014 1.300% 06/23/2017 40434CAA3 0.00 1,625.00 1,625.00 250,000.00 06/23/16 06/24/16 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 166764AE0 0.00 3,779.60 3,779.60 440,000.00 06/24/16 06/30/16 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 912828N48 0.00 7,000.00 7,000.00 800,000.00 06/30/16 Page 18 For the Month Ending June 30, 2016Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method INTEREST 06/30/16 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 912828A83 0.00 4,453.13 4,453.13 375,000.00 06/30/16 37,641.14 37,641.14 0.00 4,350,000.00 Transaction Type Sub-Total SELL 06/09/16 US TREASURY NOTES DTD 05/15/2009 3.125% 05/15/2019 912828KQ2 100,740.82 201.68 100,942.50 (990.82) 1,334.37 SPEC LOT 95,000.00 06/02/16 06/08/16 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 912828TR1 170,106.25 320.49 170,426.74 3,273.83 2,412.51 SPEC LOT 170,000.00 06/03/16 06/29/16 FANNIE MAE GLOBAL NOTES DTD 07/20/2012 0.875% 08/28/2017 3135G0MZ3 802,544.00 2,352.78 804,896.78 560.00 2,071.76 SPEC LOT 800,000.00 06/27/16 06/29/16 FREDDIE MAC GLOBAL NOTES DTD 08/10/2012 1.000% 09/29/2017 3137EADL0 200,876.00 500.00 201,376.00 (1,258.00) 332.99 SPEC LOT 200,000.00 06/28/16 3,374.95 6,151.63 1,585.01 1,277,642.02 1,274,267.07 1,265,000.00 Transaction Type Sub-Total (8,997.71) 36,630.24 27,632.53 1,585.01 6,151.63 Managed Account Sub-Total Total Security Transactions $1,585.01 $27,632.53 $36,630.24 ($8,997.71)$6,151.63 Page 19 For the Month Ending June 30, 2016Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 51,284.38 Opening Balance 06/06/16 06/06/16 Purchase - Interest 166764AA8 1.00 966.00 52,250.38 06/06/16 06/06/16 Purchase - Interest 166764AA8 1.00 828.00 53,078.38 06/08/16 06/08/16 Purchase - Interest 912828TR1 1.00 320.49 53,398.87 06/08/16 06/08/16 Purchase - Principal 912828TR1 1.00 170,106.25 223,505.12 06/08/16 06/08/16 Redemption - Principal 12189TBC7 1.00 (165,585.00) 57,920.12 06/08/16 06/08/16 Redemption - Interest 12189TBC7 1.00 (1,312.08) 56,608.04 06/09/16 06/09/16 Purchase - Interest 912828KQ2 1.00 201.68 56,809.72 06/09/16 06/09/16 Purchase - Principal 912828KQ2 1.00 100,740.82 157,550.54 06/09/16 06/09/16 Redemption - Principal 172967KS9 1.00 (104,945.40) 52,605.14 06/13/16 06/13/16 Purchase - Interest 24422ESN0 1.00 2,446.88 55,052.02 06/20/16 06/20/16 Purchase - Interest 89113ESN7 1.00 7,900.69 62,952.71 06/23/16 06/23/16 Purchase - Interest 40434CAA3 1.00 1,625.00 64,577.71 06/23/16 06/23/16 Purchase - Interest 46625HLW8 1.00 7,906.25 72,483.96 06/24/16 06/24/16 Purchase - Interest 166764AE0 1.00 3,779.60 76,263.56 06/27/16 06/27/16 Purchase - Interest 3136ANJY4 1.00 174.38 76,437.94 06/27/16 06/27/16 Purchase - Interest 3136AQDQ0 1.00 363.49 76,801.43 06/27/16 06/27/16 Purchase - Interest 3136AQSW1 1.00 197.72 76,999.15 06/28/16 06/28/16 IP Fees May 2016 1.00 (2,329.63) 74,669.52 06/28/16 06/28/16 U.S. Bank Fees April 2016 1.00 (146.44) 74,523.08 06/29/16 06/29/16 Purchase - Interest 3135G0MZ3 1.00 2,352.78 76,875.86 06/29/16 06/29/16 Purchase - Principal 3135G0MZ3 1.00 802,544.00 879,419.86 Page 20 For the Month Ending June 30, 2016Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 06/29/16 06/29/16 Purchase - Interest 3137EADL0 1.00 500.00 879,919.86 06/29/16 06/29/16 Purchase - Principal 3137EADL0 1.00 200,876.00 1,080,795.86 06/29/16 06/29/16 Redemption - Interest 912828Q37 1.00 (3,073.77) 1,077,722.09 06/29/16 06/29/16 Redemption - Principal 912828Q37 1.00 (1,012,734.38) 64,987.71 06/30/16 06/30/16 Purchase - Interest 912828A83 1.00 4,453.13 69,440.84 06/30/16 06/30/16 Purchase - Interest 912828N48 1.00 7,000.00 76,440.84 06/30/16 07/01/16 Accrual Income Div Reinvestment - Distributions 1.00 25.16 76,466.00 76,466.00 76,466.00 76,466.00 59,936.00 113.79 0.00 (7,271,504.12) 7,324,982.66 22,987.46 25.16 76,466.00 0.00 (1,290,126.70) 1,315,308.32 51,284.38 Monthly Distribution Yield Average Monthly Balance Closing Balance Fiscal YTDMonth of Cash Dividends and Income Closing Balance Check Disbursements Redemptions (Excl. Checks) Purchases Opening Balance Closing Balance June January-June 0.51% Page 21 Housing Funds CAMP Account For the Month Ending June 30, 2016Account Statement - Transaction Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Opening Market Value Purchases Redemptions Change in Value Closing Market Value 16,472.55 232,734.05 (230,989.85) 0.00 $18,216.75 CAMP Pool Unsettled Trades 0.00 6.73 Cash Dividends and Income Opening Market Value Purchases Redemptions Change in Value Closing Market Value 5,054,382.70 229,813.02 (225,857.44) 37,474.83 $5,095,813.11 CAMP Managed Account Unsettled Trades 0.00 7,011.75 Cash Dividends and Income June 30, 2016 May 31, 2016 Asset Summary CAMP Pool 18,216.75 16,472.55 CAMP Managed Account 5,095,813.11 5,054,382.70 $5,114,029.86 $5,070,855.25 Total Asset Allocation 0.36% CAMP Pool 99.64% CAMP Managed Account Page 1 For the Month Ending June 30, 2016Managed Account Summary Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dividend Closing Market Value Redemptions Purchases Opening Market Value Closing Market Value Change in Current Value Unsettled Trades Principal Acquisitions Principal Dispositions Maturities/Calls Opening Market Value Closing Market Value Opening Market Value Account Total Total Cash Basis Earnings Plus Net Realized Gains/Losses Less Purchased Interest Related to Interest/Coupons Interest/Dividends/Coupons Received Earnings Reconciliation (Cash Basis) - Managed Account Dividends Less Beginning Accrued Interest Less Beginning Amortized Value of Securities Less Cost of New Purchases Plus Coupons/Dividends Received Plus Proceeds of Maturities/Calls/Principal Payments Plus Proceeds from Sales Ending Accrued Interest Ending Amortized Value of Securities Earnings Reconciliation (Accrual Basis) Reconciling Transactions Net Cash Contribution Security Purchases Principal Payments Coupon/Interest/Dividend Income Sale Proceeds Maturities/Calls Cash Transactions Summary- Managed Account $16,472.55 232,734.05 (230,989.85) $18,216.75 6.73 $5,054,382.70 0.00 (225,857.44) 229,813.02 0.00 37,474.83 $5,095,813.11 $5,070,855.25 $5,114,029.86 6,869.88 (756.59) 898.46 $7,011.75 0.00 226,237.44 6,489.88 0.00 (230,569.61) (2,157.71) 0.00 Managed Account Total 5,033,099.08 5,051,315.83 17,126.35 226,237.44 0.00 6,489.88 (230,569.61) (5,028,558.48) (17,066.93) 0.00 17,126.35 457,227.29 0.00 6,489.88 (463,303.66) (5,045,031.03) (17,066.93) 6.73 Total Accrual Basis Earnings $6,757.73 $6,764.46 Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance $0.00 Closing Cash Balance Page 2 For the Month Ending June 30, 2016Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Account Summary Percent Par Value Market ValueDescription U.S. Treasury Bond / Note 2,345,000.00 2,401,853.45 46.96 Municipal Bond / Note 30,000.00 30,603.30 0.60 Federal Agency Collateralized Mortgage Obligation 95,000.00 96,047.38 1.88 Federal Agency Bond / Note 830,000.00 835,362.19 16.33 Corporate Note 1,310,000.00 1,330,957.29 26.03 Certificate of Deposit 400,000.00 400,989.50 7.84 Managed Account Sub-Total 5,010,000.00 5,095,813.11 99.64% Accrued Interest 17,126.35 Total Portfolio 5,010,000.00 5,112,939.46 CAMP Pool 18,216.75 18,216.75 0.36 Total Investments 5,028,216.75 5,131,156.21 100.00% Unsettled Trades 0.00 0.00 Sector Allocation 7.84% Cert of Deposit 26.03% Corporate Note 1.88% Fed Agency CMO 16.33% Fed Agy Bond / Note 0.36% Mny Mkt Fund 0.60% Muni Bond / Note 46.96% US TSY Bond / Note 0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years 0.35% 7.36% 30.14% 14.00% 26.83% 21.32% 0.00% Maturity Distribution Characteristics Yield to Maturity at Cost Yield to Maturity at Market Duration to Worst Weighted Average Days to Maturity 2.68 1014 1.39% 0.93% Page 3 For the Month Ending June 30, 2016Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Credit Quality (S&P Ratings) 7.50% A 4.48% A+ 2.51% A- 1.96% A-1 1.96% A-1+ 66.25% AA+ 13.50% AA- 0.36% AAAm 1.48% BBB+ Issuer Summary Percentof HoldingsIssuer Market Value 103,255.00 2.02 AMERICAN HONDA FINANCE 55,135.36 1.08 APPLE INC 152,398.45 2.98 BANK OF NEW YORK CO INC 25,366.23 0.50 BB&T CORPORTATION 27,643.23 0.54 BURLINGTON NORTHERN SANTA FE 18,216.75 0.36 CAMP Pool 256,223.66 5.01 CHEVRON CORP 102,706.20 2.01 CISCO SYSTEMS INC 25,172.08 0.49 CITIGROUP INC 604,962.17 11.82 FANNIE MAE 326,447.40 6.38 FREDDIE MAC 50,512.95 0.99 GOLDMAN SACHS GROUP INC 100,054.00 1.96 HSBC HOLDINGS PLC 100,619.50 1.97 IBM CORP 103,043.20 2.01 JP MORGAN CHASE & CO 100,050.00 1.96 NORDEA BANK AB 100,779.50 1.97 ROYAL BANK OF CANADA 100,106.00 1.96 SKANDINAVISKA ENSKIDA BANKEN AB 30,603.30 0.60 STATE OF CONNECTICUT 25,314.23 0.49 STATE STREET CORPORATION 2,401,853.45 46.96 UNITED STATES TREASURY 125,598.50 2.46 US BANCORP 177,968.70 3.48 WELLS FARGO & COMPANY $5,114,029.86 Total 100.00% Page 4 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 10/01/2012 0.625% 09/30/2017 50,046.90 49,925.08 78.55 49,708.98 10/31/1210/26/12AaaAA+ 50,000.00 912828TS9 0.75 US TREASURY NOTES DTD 11/30/2012 0.625% 11/30/2017 150,123.00 148,839.84 79.41 147,117.19 05/09/1405/06/14AaaAA+ 150,000.00 912828UA6 1.18 US TREASURY NOTES DTD 05/31/2013 1.000% 05/31/2018 50,386.70 49,981.50 42.35 49,978.52 03/15/1603/11/16AaaAA+ 50,000.00 912828VE7 1.02 US TREASURY NOTES DTD 07/31/2013 1.375% 07/31/2018 101,570.30 100,933.88 574.18 101,554.69 02/04/1502/02/15AaaAA+ 100,000.00 912828VQ0 0.92 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 96,354.51 94,637.66 100.58 94,335.74 06/03/1406/02/14AaaAA+ 95,000.00 912828A34 1.41 US TREASURY NOTES DTD 01/31/2014 1.500% 01/31/2019 51,044.90 49,864.59 313.19 49,767.58 07/31/1407/29/14AaaAA+ 50,000.00 912828B33 1.61 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 75,559.58 74,277.42 188.52 74,024.41 04/30/1504/28/15AaaAA+ 75,000.00 912828TR1 1.30 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 151,119.15 148,002.82 377.05 147,205.08 02/27/1502/26/15AaaAA+ 150,000.00 912828TR1 1.42 US TREASURY NOTES DTD 09/30/2014 1.750% 09/30/2019 257,822.25 252,816.15 1,099.73 253,876.95 03/27/1503/26/15AaaAA+ 250,000.00 912828F39 1.39 US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 150,978.45 147,788.93 127.05 147,105.47 05/29/1505/28/15AaaAA+ 150,000.00 912828UB4 1.44 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 126,865.25 123,664.56 522.25 123,437.50 11/09/1511/05/15AaaAA+ 125,000.00 912828UQ1 1.55 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 152,238.30 149,646.76 626.70 149,578.13 10/09/1510/08/15AaaAA+ 150,000.00 912828UQ1 1.32 US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 78,272.48 76,246.33 626.37 76,415.04 12/04/1512/01/15AaaAA+ 75,000.00 912828VP2 1.58 US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 183,544.90 177,715.65 1,242.95 178,028.32 12/30/1512/28/15AaaAA+ 175,000.00 912828VV9 1.74 Page 5 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 103,363.30 101,697.46 294.84 101,851.56 02/03/1602/01/16AaaAA+ 100,000.00 912828WC0 1.35 US TREASURY NOTES DTD 11/15/2010 2.625% 11/15/2020 26,785.15 26,499.85 83.81 26,550.78 05/06/1605/03/16AaaAA+ 25,000.00 912828PC8 1.21 US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 156,744.15 153,999.22 254.10 154,283.20 03/04/1603/02/16AaaAA+ 150,000.00 912828A42 1.38 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 132,695.25 130,955.84 8.07 131,279.30 03/31/1603/30/16AaaAA+ 125,000.00 912828A83 1.28 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 129,301.75 127,201.31 5.94 127,241.21 05/31/1605/27/16AaaAA+ 125,000.00 912828N48 1.35 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 177,037.18 177,226.03 549.86 177,228.52 06/29/1606/27/16AaaAA+ 175,000.00 912828Q37 0.98 7,195.50 2,401,853.45 2,361,920.88 1.34 2,360,568.17 2,345,000.00 Security Type Sub-Total Municipal Bond / Note CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 30,603.30 30,058.04 174.37 30,084.30 03/25/1503/16/15Aa3AA- 30,000.00 20772JZK1 1.90 174.37 30,603.30 30,058.04 1.90 30,084.30 30,000.00 Security Type Sub-Total Federal Agency Collateralized Mortgage Obligation FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 25,202.63 25,134.02 32.29 25,249.91 04/30/1504/15/15AaaAA+ 25,000.00 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 25,360.56 25,194.23 39.54 25,250.00 11/30/1511/06/15AaaAA+ 25,000.00 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 45,484.19 45,361.45 61.73 45,450.63 10/30/1510/07/15AaaAA+ 45,000.00 3136AQDQ0 1.08 133.56 96,047.38 95,689.70 1.05 95,950.54 95,000.00 Security Type Sub-Total Page 6 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Bond / Note FREDDIE MAC GLOBAL NOTES DTD 05/14/2012 1.000% 06/29/2017 30,122.04 30,010.00 1.67 30,028.62 08/13/1408/11/14AaaAA+ 30,000.00 3137EADH9 0.97 FREDDIE MAC GLOBAL NOTES DTD 05/14/2012 1.000% 06/29/2017 120,488.16 120,049.05 6.67 120,140.40 08/13/1408/11/14AaaAA+ 120,000.00 3137EADH9 0.96 FREDDIE MAC GLOBAL NOTES DTD 08/10/2012 1.000% 09/29/2017 175,837.20 175,473.03 447.22 176,867.25 10/05/1210/04/12AaaAA+ 175,000.00 3137EADL0 0.78 FANNIE MAE GLOBAL NOTES DTD 09/24/2012 0.875% 10/26/2017 50,174.10 49,867.39 78.99 49,613.50 12/03/1311/27/13AaaAA+ 50,000.00 3135G0PQ0 1.08 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 100,395.80 99,414.03 97.22 98,485.00 05/31/1305/24/13AaaAA+ 100,000.00 3135G0WJ8 1.19 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 125,494.75 124,593.86 121.53 123,943.75 05/24/1305/22/13AaaAA+ 125,000.00 3135G0WJ8 1.05 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 107,235.14 105,593.07 161.15 105,997.50 10/23/1410/22/14AaaAA+ 105,000.00 3135G0YT4 1.39 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 125,615.00 124,739.37 434.03 124,705.00 02/23/1602/19/16AaaAA+ 125,000.00 3135G0J53 1.08 1,348.48 835,362.19 829,739.80 1.04 829,781.02 830,000.00 Security Type Sub-Total Corporate Note US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 125,598.50 125,458.00 263.54 127,670.00 07/30/1207/25/12A1A+ 125,000.00 91159HHD5 1.19 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 75,123.90 75,113.01 59.80 75,405.75 12/05/1211/29/12Aa2AA- 75,000.00 166764AA8 0.99 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 100,165.20 100,000.00 79.73 100,000.00 12/05/1211/28/12Aa2AA- 100,000.00 166764AA8 1.10 IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 100,619.50 99,849.86 496.53 99,542.00 02/08/1302/05/13Aa3AA- 100,000.00 459200HK0 1.35 BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 100,587.50 99,990.04 431.25 99,971.00 03/06/1303/04/13A1A 100,000.00 06406HCJ6 1.36 Page 7 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 55,135.36 54,924.10 88.61 54,797.05 05/03/1304/30/13Aa1AA+ 55,000.00 037833AJ9 1.08 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 80,934.56 80,000.00 26.72 80,000.00 06/24/1306/17/13Aa2AA- 80,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 51,353.10 50,286.83 354.17 50,475.00 09/04/1408/29/14A1AA- 50,000.00 17275RAR3 1.90 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 51,353.10 50,361.23 354.17 50,469.50 09/04/1509/01/15A1AA- 50,000.00 17275RAR3 1.85 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 50,512.95 49,969.88 183.33 49,968.00 04/26/1604/21/16A3BBB+ 50,000.00 38141GVT8 2.02 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 25,172.08 24,987.26 31.32 24,987.00 06/09/1606/02/16Baa1BBB+ 25,000.00 172967KS9 2.07 AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 103,255.00 99,880.06 850.00 99,815.00 09/09/1409/04/14A1A+ 100,000.00 02665WAH4 2.29 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 27,643.23 27,548.61 293.75 27,597.50 06/08/1606/03/16A3A 25,000.00 12189TBC7 1.48 WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 177,968.70 175,890.59 1,578.16 176,223.25 02/05/1502/02/15A2A 175,000.00 94974BGF1 2.00 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 103,043.20 100,416.48 61.11 100,497.00 09/04/1509/01/15A3A- 100,000.00 46625HLW8 2.64 BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 51,810.95 51,123.43 458.33 51,149.00 05/19/1605/16/16A1A 50,000.00 06406FAA1 2.00 BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 25,366.23 24,983.91 72.60 24,983.50 05/16/1605/10/16A2A- 25,000.00 05531FAV5 2.06 STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 25,314.23 24,907.37 56.88 24,905.50 05/24/1605/19/16A1A 25,000.00 857477AV5 2.03 Page 8 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par 5,740.00 1,330,957.29 1,315,690.66 1.70 1,318,456.05 1,310,000.00 Security Type Sub-Total Certificate of Deposit NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 100,050.00 100,000.00 115.00 100,000.00 05/29/1505/27/15Aa3AA- 100,000.00 65558LFA5 1.15 SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 100,106.00 100,000.00 933.22 100,000.00 11/17/1511/16/15P-1A-1 100,000.00 83050FBG5 1.48 HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 100,054.00 100,000.00 966.78 100,000.00 11/18/1511/17/15P-1A-1+ 100,000.00 40428AR58 1.54 ROYAL BANK OF CANADA NY CD DTD 03/11/2016 1.700% 03/09/2018 100,779.50 100,000.00 519.44 100,000.00 03/15/1603/11/16Aa3AA- 100,000.00 78009NZZ2 1.69 2,534.44 400,989.50 400,000.00 1.46 400,000.00 400,000.00 Security Type Sub-Total 5,010,000.00 5,034,840.08 1.39 17,126.35 5,033,099.08 5,095,813.11 Managed Account Sub-Total Money Market Fund CAMP Pool 18,216.75 18,216.75 0.00 18,216.75 NRAAAm 18,216.75 18,216.75 18,216.75 0.00 18,216.75 18,216.75 Money Market Sub-Total $5,028,216.75 $5,053,056.83 $17,126.35 $5,051,315.83 $5,114,029.86 1.39% $5,131,156.21 $17,126.35 Total Investments Accrued Interest Securities Sub-Total Page 9 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Security Type/Description Next Call Market YTMEffective Duration U.S. Treasury Bond / Note 1.24 121.82 337.92 50,046.90 100.09 CITIGRP 50,000.00 912828TS9US TREASURY NOTES DTD 10/01/2012 0.625% 09/30/2017 0.55 1.24 1.41 1,283.16 3,005.81 150,123.00 100.08 MERRILL 150,000.00 912828UA6US TREASURY NOTES DTD 11/30/2012 0.625% 11/30/2017 0.57 1.41 1.90 405.20 408.18 50,386.70 100.77 MERRILL 50,000.00 912828VE7US TREASURY NOTES DTD 05/31/2013 1.000% 05/31/2018 0.59 1.90 2.05 636.42 15.61 101,570.30 101.57 BARCLAYS 100,000.00 912828VQ0US TREASURY NOTES DTD 07/31/2013 1.375% 07/31/2018 0.62 2.05 2.38 1,716.85 2,018.77 96,354.51 101.43 CITIGRP 95,000.00 912828A34US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 0.65 2.38 2.52 1,180.31 1,277.32 51,044.90 102.09 BARCLAYS 50,000.00 912828B33US TREASURY NOTES DTD 01/31/2014 1.500% 01/31/2019 0.68 2.52 3.19 1,282.16 1,535.17 75,559.58 100.75 MERRILL 75,000.00 912828TR1US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 0.77 3.19 3.19 3,116.33 3,914.07 151,119.15 100.75 JPMCHASE 150,000.00 912828TR1US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 0.77 3.19 3.15 5,006.10 3,945.30 257,822.25 103.13 JPMCHASE 250,000.00 912828F39US TREASURY NOTES DTD 09/30/2014 1.750% 09/30/2019 0.77 3.15 3.35 3,189.52 3,872.98 150,978.45 100.65 CITIGRP 150,000.00 912828UB4US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 0.81 3.35 3.57 3,200.69 3,427.75 126,865.25 101.49 CITIGRP 125,000.00 912828UQ1US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 0.84 3.57 3.57 2,591.54 2,660.17 152,238.30 101.49 MORGANST 150,000.00 912828UQ1US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 0.84 3.57 3.90 2,026.15 1,857.44 78,272.48 104.36 MERRILL 75,000.00 912828VP2US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 0.91 3.90 3.97 5,829.25 5,516.58 183,544.90 104.88 MORGANST 175,000.00 912828VV9US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 0.93 3.97 4.16 1,665.84 1,511.74 103,363.30 103.36 MERRILL 100,000.00 912828WC0US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 0.96 4.16 4.14 285.30 234.37 26,785.15 107.14 HSBC 25,000.00 912828PC8US TREASURY NOTES DTD 11/15/2010 2.625% 11/15/2020 0.95 4.14 4.23 2,744.93 2,460.95 156,744.15 104.50 MERRILL 150,000.00 912828A42US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 0.96 4.23 Page 10 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Security Type/Description Next Call Market YTMEffective Duration U.S. Treasury Bond / Note 4.28 1,739.41 1,415.95 132,695.25 106.16 MERRILL 125,000.00 912828A83US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 0.97 4.28 4.33 2,100.44 2,060.54 129,301.75 103.44 MORGANST 125,000.00 912828N48US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 0.97 4.33 4.59 (188.85)(191.34) 177,037.18 101.16 CITIGRP 175,000.00 912828Q37US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 1.00 4.59 41,285.28 0.82 3.39 39,932.57 2,401,853.45 2,345,000.00 Security Type Sub-Total 3.39 Municipal Bond / Note 2.62 545.26 519.00 30,603.30 102.01 VINING 30,000.00 20772JZK1CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 1.22 2.62 519.00 1.22 2.62 545.26 30,603.30 30,000.00 Security Type Sub-Total 2.62 Federal Agency Collateralized Mortgage Obligation 1.57 68.61 (47.28) 25,202.63 100.81 GOLDMAN 25,000.00 3136ANJY4FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 0.97 1.60 2.27 166.33 110.56 25,360.56 101.44 GOLDMAN 25,000.00 3136AQSW1FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 1.21 1.88 2.94 122.74 33.56 45,484.19 101.08 MORGANST 45,000.00 3136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 1.24 2.15 96.84 1.16 2.40 357.68 96,047.38 95,000.00 Security Type Sub-Total 1.93 Federal Agency Bond / Note 0.99 112.04 93.42 30,122.04 100.41 JPMCHASE 30,000.00 3137EADH9FREDDIE MAC GLOBAL NOTES DTD 05/14/2012 1.000% 06/29/2017 0.59 0.99 0.99 439.11 347.76 120,488.16 100.41 BNP PARI 120,000.00 3137EADH9FREDDIE MAC GLOBAL NOTES DTD 05/14/2012 1.000% 06/29/2017 0.59 0.99 1.24 364.17 (1,030.05) 175,837.20 100.48 JEFFERIE 175,000.00 3137EADL0FREDDIE MAC GLOBAL NOTES DTD 08/10/2012 1.000% 09/29/2017 0.61 1.24 1.31 306.71 560.60 50,174.10 100.35 SOC GEN 50,000.00 3135G0PQ0FANNIE MAE GLOBAL NOTES DTD 09/24/2012 0.875% 10/26/2017 0.61 1.31 Page 11 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Security Type/Description Next Call Market YTMEffective Duration Federal Agency Bond / Note 1.87 981.77 1,910.80 100,395.80 100.40 CSFB 100,000.00 3135G0WJ8FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 0.66 1.87 1.87 900.89 1,551.00 125,494.75 100.40 BNP PARI 125,000.00 3135G0WJ8FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 0.66 1.87 2.36 1,642.07 1,237.64 107,235.14 102.13 GOLDMAN 105,000.00 3135G0YT4FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 0.73 2.36 2.61 875.63 910.00 125,615.00 100.49 JPMCHASE 125,000.00 3135G0J53FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 0.81 2.61 5,581.17 0.67 1.72 5,622.39 835,362.19 830,000.00 Security Type Sub-Total 1.72 Corporate Note 0.78 140.50 (2,071.50) 125,598.50 100.48 04/15/17BARCLAYS 125,000.00 91159HHD5US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 1.10 0.66 1.33 10.89 (281.85) 75,123.90 100.17 11/05/17BARCLAYS 75,000.00 166764AA8CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 0.99 1.28 1.33 165.20 165.20 100,165.20 100.17 11/05/17MORGANST 100,000.00 166764AA8CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 0.99 1.28 1.58 769.64 1,077.50 100,619.50 100.62 HSBC 100,000.00 459200HK0IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 0.86 1.58 1.66 597.46 616.50 100,587.50 100.59 GOLDMAN 100,000.00 06406HCJ6BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 1.00 1.54 1.82 211.26 338.31 55,135.36 100.25 GOLDMAN 55,000.00 037833AJ9APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 0.86 1.82 1.95 934.56 934.56 80,934.56 101.17 BARCLAYS 80,000.00 166764AE0CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 1.12 1.95 2.58 1,066.27 878.10 51,353.10 102.71 BONY 50,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 1.09 2.58 2.58 991.87 883.60 51,353.10 102.71 BNP PARI 50,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 1.09 2.58 Page 12 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Security Type/Description Next Call Market YTMEffective Duration Corporate Note 2.65 543.07 544.95 50,512.95 101.03 03/25/19MIZUHO 50,000.00 38141GVT8GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 1.63 2.67 2.84 184.82 185.08 25,172.08 100.69 CITIGRP 25,000.00 172967KS9CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 1.81 2.84 3.00 3,374.94 3,440.00 103,255.00 103.26 MERRILL 100,000.00 02665WAH4AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 1.19 3.00 3.01 94.62 45.73 27,643.23 110.57 GOLDMAN 25,000.00 12189TBC7BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 1.37 3.01 3.41 2,078.11 1,745.45 177,968.70 101.70 JEFFERIE 175,000.00 94974BGF1WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 1.66 3.41 3.69 2,626.72 2,546.20 103,043.20 103.04 05/23/20JPMCHASE 100,000.00 46625HLW8JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 1.95 3.72 4.48 687.52 661.95 51,810.95 103.62 KEYBAN 50,000.00 06406FAA1BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 1.71 4.48 4.60 382.32 382.73 25,366.23 101.46 SCOTIA 25,000.00 05531FAV5BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 1.73 4.60 4.64 406.86 408.73 25,314.23 101.26 GOLDMAN 25,000.00 857477AV5STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 1.68 4.64 12,501.24 1.28 2.43 15,266.63 1,330,957.29 1,310,000.00 Security Type Sub-Total 2.40 Certificate of Deposit 0.90 50.00 50.00 100,050.00 100.05 MERRILL 100,000.00 65558LFA5NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 1.08 0.90 1.38 106.00 106.00 100,106.00 100.11 GOLDMAN 100,000.00 83050FBG5SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 0.33 1.38 1.38 54.00 54.00 100,054.00 100.05 HSBC 100,000.00 40428AR58HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 0.93 1.38 1.68 779.50 779.50 100,779.50 100.78 RBC CAP 100,000.00 78009NZZ2ROYAL BANK OF CANADA NY CD DTD 03/11/2016 1.700% 03/09/2018 1.21 1.68 989.50 0.89 1.33 989.50 400,989.50 400,000.00 Security Type Sub-Total 1.33 Page 13 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Security Type/Description Next Call Market YTMEffective Duration 5,010,000.00 5,095,813.11 60,973.03 62,714.03 2.68 0.93 Managed Account Sub-Total 2.67 Money Market Fund 0.00 0.00 0.00 18,216.75 1.00 18,216.75 CAMP Pool 0.00 18,216.75 18,216.75 0.00 0.00 0.00 Money Market Sub-Total 0.00 Total Investments $5,131,156.21 $17,126.35 $5,114,029.86 Accrued Interest Securities Sub-Total $5,028,216.75 $60,973.03 $62,714.03 2.68 0.93% 2.67 Page 14 For the Month Ending June 30, 2016Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method BUY 06/09/16 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 172967KS9 (24,987.00) 0.00 (24,987.00) 25,000.00 06/02/16 06/08/16 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 12189TBC7 (27,597.50)(218.68)(27,816.18) 25,000.00 06/03/16 06/29/16 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 912828Q37 (177,228.52)(537.91)(177,766.43) 175,000.00 06/27/16 (756.59) (230,569.61)(229,813.02) 225,000.00 Transaction Type Sub-Total INTEREST 06/25/16 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 3136AQSW1 0.00 39.54 39.54 25,000.00 06/01/16 06/25/16 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 3136AQDQ0 0.00 61.73 61.73 45,000.00 06/01/16 06/25/16 FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 3136ANJY4 0.00 32.29 32.29 25,000.00 06/01/16 06/05/16 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 166764AA8 0.00 552.00 552.00 100,000.00 06/05/16 06/05/16 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 166764AA8 0.00 414.00 414.00 75,000.00 06/05/16 06/23/16 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 46625HLW8 0.00 1,375.00 1,375.00 100,000.00 06/23/16 06/24/16 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 166764AE0 0.00 687.20 687.20 80,000.00 06/24/16 06/29/16 FREDDIE MAC GLOBAL NOTES DTD 05/14/2012 1.000% 06/29/2017 3137EADH9 0.00 150.00 150.00 30,000.00 06/29/16 06/29/16 FREDDIE MAC GLOBAL NOTES DTD 05/14/2012 1.000% 06/29/2017 3137EADH9 0.00 600.00 600.00 120,000.00 06/29/16 06/30/16 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 912828A83 0.00 1,484.37 1,484.37 125,000.00 06/30/16 06/30/16 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 912828N48 0.00 1,093.75 1,093.75 125,000.00 06/30/16 Page 15 For the Month Ending June 30, 2016Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method 6,489.88 6,489.88 0.00 850,000.00 Transaction Type Sub-Total SELL 06/09/16 US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 912828C65 25,418.95 77.70 25,496.65 391.61 401.85 SPEC LOT 25,000.00 06/02/16 06/08/16 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 912828TR1 25,015.63 47.13 25,062.76 481.45 354.79 SPEC LOT 25,000.00 06/03/16 06/29/16 US TREASURY NOTES DTD 10/01/2012 0.625% 09/30/2017 912828TS9 50,046.88 76.84 50,123.72 337.89 122.13 SPEC LOT 50,000.00 06/27/16 06/29/16 US TREASURY NOTES DTD 04/30/2012 0.875% 04/30/2017 912828SS0 125,375.98 178.33 125,554.31 (312.49) 116.67 SPEC LOT 125,000.00 06/27/16 380.00 995.44 898.46 226,237.44 225,857.44 225,000.00 Transaction Type Sub-Total (3,955.58) 6,113.29 2,157.71 898.46 995.44 Managed Account Sub-Total Total Security Transactions $898.46 $2,157.71 $6,113.29 ($3,955.58)$995.44 Page 16 For the Month Ending June 30, 2016Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 16,472.55 Opening Balance 06/06/16 06/06/16 Purchase - Interest 166764AA8 1.00 414.00 16,886.55 06/06/16 06/06/16 Purchase - Interest 166764AA8 1.00 552.00 17,438.55 06/08/16 06/08/16 Purchase - Interest 912828TR1 1.00 47.13 17,485.68 06/08/16 06/08/16 Purchase - Principal 912828TR1 1.00 25,015.63 42,501.31 06/08/16 06/08/16 Redemption - Principal 12189TBC7 1.00 (27,597.50) 14,903.81 06/08/16 06/08/16 Redemption - Interest 12189TBC7 1.00 (218.68) 14,685.13 06/09/16 06/09/16 Purchase - Interest 912828C65 1.00 77.70 14,762.83 06/09/16 06/09/16 Purchase - Principal 912828C65 1.00 25,418.95 40,181.78 06/09/16 06/09/16 Redemption - Principal 172967KS9 1.00 (24,987.00) 15,194.78 06/23/16 06/23/16 Purchase - Interest 46625HLW8 1.00 1,375.00 16,569.78 06/24/16 06/24/16 Purchase - Interest 166764AE0 1.00 687.20 17,256.98 06/27/16 06/27/16 Purchase - Interest 3136ANJY4 1.00 32.29 17,289.27 06/27/16 06/27/16 Purchase - Interest 3136AQDQ0 1.00 61.73 17,351.00 06/27/16 06/27/16 Purchase - Interest 3136AQSW1 1.00 39.54 17,390.54 06/28/16 06/28/16 IP Fees May 2016 1.00 (395.37) 16,995.17 06/28/16 06/28/16 U.S. Bank Fees April 2016 1.00 (24.87) 16,970.30 06/29/16 06/29/16 Purchase - Interest 3137EADH9 1.00 150.00 17,120.30 06/29/16 06/29/16 Purchase - Interest 3137EADH9 1.00 600.00 17,720.30 06/29/16 06/29/16 Purchase - Interest 912828SS0 1.00 178.33 17,898.63 06/29/16 06/29/16 Purchase - Principal 912828SS0 1.00 125,375.98 143,274.61 06/29/16 06/29/16 Purchase - Interest 912828TS9 1.00 76.84 143,351.45 Page 17 For the Month Ending June 30, 2016Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 06/29/16 06/29/16 Purchase - Principal 912828TS9 1.00 50,046.88 193,398.33 06/29/16 06/29/16 Redemption - Principal 912828Q37 1.00 (177,228.52) 16,169.81 06/29/16 06/29/16 Redemption - Interest 912828Q37 1.00 (537.91) 15,631.90 06/30/16 06/30/16 Purchase - Interest 912828N48 1.00 1,093.75 16,725.65 06/30/16 06/30/16 Purchase - Interest 912828A83 1.00 1,484.37 18,210.02 06/30/16 07/01/16 Accrual Income Div Reinvestment - Distributions 1.00 6.73 18,216.75 18,216.75 18,216.75 18,216.75 16,040.07 26.96 0.00 (1,257,378.94) 1,271,386.34 4,209.35 6.73 18,216.75 0.00 (230,989.85) 232,734.05 16,472.55 Monthly Distribution Yield Average Monthly Balance Closing Balance Fiscal YTDMonth of Cash Dividends and Income Closing Balance Check Disbursements Redemptions (Excl. Checks) Purchases Opening Balance Closing Balance June January-June 0.51% Page 18 Successor Agency CAMP Account For the Month Ending June 30, 2016Account Statement - Transaction Summary CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Opening Market Value Purchases Redemptions Change in Value Closing Market Value 24,682.50 221,490.47 (231,005.37) 0.00 $15,167.60 CAMP Pool Unsettled Trades 0.00 7.08 Cash Dividends and Income Opening Market Value Purchases Redemptions Change in Value Closing Market Value 5,250,983.82 229,813.02 (216,578.33) 39,275.35 $5,303,493.86 CAMP Managed Account Unsettled Trades 0.00 4,726.41 Cash Dividends and Income June 30, 2016 May 31, 2016 Asset Summary CAMP Pool 15,167.60 24,682.50 CAMP Managed Account 5,303,493.86 5,250,983.82 $5,318,661.46 $5,275,666.32 Total Asset Allocation 0.29% CAMP Pool 99.71% CAMP Managed Account Page 1 For the Month Ending June 30, 2016Managed Account Summary Statement CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dividend Closing Market Value Redemptions Purchases Opening Market Value Closing Market Value Change in Current Value Unsettled Trades Principal Acquisitions Principal Dispositions Maturities/Calls Opening Market Value Closing Market Value Opening Market Value Account Total Total Cash Basis Earnings Plus Net Realized Gains/Losses Less Purchased Interest Related to Interest/Coupons Interest/Dividends/Coupons Received Earnings Reconciliation (Cash Basis) - Managed Account Dividends Less Beginning Accrued Interest Less Beginning Amortized Value of Securities Less Cost of New Purchases Plus Coupons/Dividends Received Plus Proceeds of Maturities/Calls/Principal Payments Plus Proceeds from Sales Ending Accrued Interest Ending Amortized Value of Securities Earnings Reconciliation (Accrual Basis) Reconciling Transactions Net Cash Contribution Security Purchases Principal Payments Coupon/Interest/Dividend Income Sale Proceeds Maturities/Calls Cash Transactions Summary- Managed Account $24,682.50 221,490.47 (231,005.37) $15,167.60 7.08 $5,250,983.82 0.00 (216,578.33) 229,813.02 0.00 39,275.35 $5,303,493.86 $5,275,666.32 $5,318,661.46 4,905.06 (756.59) 577.94 $4,726.41 0.00 217,087.63 4,395.76 0.00 (230,569.61) 9,086.22 0.00 Managed Account Total 5,229,801.47 5,244,969.07 17,218.81 217,087.63 0.00 4,395.76 (230,569.61) (5,215,857.69) (14,739.73) 0.00 17,218.81 448,093.00 0.00 4,395.76 (452,060.08) (5,240,540.19) (14,739.73) 7.08 Total Accrual Basis Earnings $7,336.64 $7,343.72 Transaction Summary - Managed AccountTransaction Summary - Money Market _______________________________________________ _______________________________________________ _____________________________________________________ Cash Balance $0.00 Closing Cash Balance Page 2 For the Month Ending June 30, 2016Portfolio Summary and Statistics CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Account Summary Percent Par Value Market ValueDescription U.S. Treasury Bond / Note 2,665,000.00 2,730,205.89 51.32 Municipal Bond / Note 30,000.00 30,603.30 0.58 Federal Agency Collateralized Mortgage Obligation 95,000.00 96,047.38 1.81 Federal Agency Bond / Note 905,000.00 916,039.67 17.22 Corporate Note 1,110,000.00 1,129,608.12 21.24 Certificate of Deposit 400,000.00 400,989.50 7.54 Managed Account Sub-Total 5,205,000.00 5,303,493.86 99.71% Accrued Interest 17,218.81 Total Portfolio 5,205,000.00 5,320,712.67 CAMP Pool 15,167.60 15,167.60 0.29 Total Investments 5,220,167.60 5,335,880.27 100.00% Unsettled Trades 0.00 0.00 Sector Allocation 7.54% Cert of Deposit 21.24% Corporate Note 1.81% Fed Agency CMO 17.22% Fed Agy Bond / Note 0.29% Mny Mkt Fund 0.58% Muni Bond / Note 51.32% US TSY Bond / Note 0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years 0.29% 9.90% 21.90%22.88%23.37% 21.66% 0.00% Maturity Distribution Characteristics Yield to Maturity at Cost Yield to Maturity at Market Duration to Worst Weighted Average Days to Maturity 2.70 1019 1.42% 0.90% Page 3 For the Month Ending June 30, 2016Managed Account Issuer Summary CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Credit Quality (S&P Ratings) 4.36% A 6.66% A+ 2.41% A- 1.88% A-1 1.88% A-1+ 71.40% AA+ 9.70% AA- 0.29% AAAm 1.42% BBB+ Issuer Summary Percentof HoldingsIssuer Market Value 103,255.00 1.94 AMERICAN HONDA FINANCE 55,135.36 1.04 APPLE INC 127,251.58 2.39 BANK OF NEW YORK CO INC 25,366.23 0.48 BB&T CORPORTATION 27,643.23 0.52 BURLINGTON NORTHERN SANTA FE 15,167.60 0.29 CAMP Pool 80,934.56 1.52 CHEVRON CORP 102,706.20 1.93 CISCO SYSTEMS INC 25,172.08 0.47 CITIGROUP INC 857,962.50 16.13 FANNIE MAE 154,124.55 2.90 FREDDIE MAC 50,512.95 0.95 GOLDMAN SACHS GROUP INC 100,054.00 1.88 HSBC HOLDINGS PLC 100,619.50 1.89 IBM CORP 103,043.20 1.94 JP MORGAN CHASE & CO 100,050.00 1.88 NORDEA BANK AB 100,779.50 1.89 ROYAL BANK OF CANADA 100,106.00 1.88 SKANDINAVISKA ENSKIDA BANKEN AB 30,603.30 0.58 STATE OF CONNECTICUT 25,314.23 0.48 STATE STREET CORPORATION 2,730,205.89 51.33 UNITED STATES TREASURY 251,197.00 4.72 US BANCORP 51,457.00 0.97 WELLS FARGO & COMPANY $5,318,661.46 Total 100.00% Page 4 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 03/31/2012 1.000% 03/31/2017 50,185.60 50,028.79 125.68 50,115.23 03/21/1403/19/14AaaAA+ 50,000.00 912828SM3 0.92 US TREASURY NOTES DTD 07/02/2012 0.750% 06/30/2017 125,288.13 124,964.00 2.55 124,941.41 11/16/1511/10/15AaaAA+ 125,000.00 912828TB6 0.78 US TREASURY NOTES DTD 11/30/2012 0.625% 11/30/2017 125,102.50 124,033.20 66.17 122,597.66 05/09/1405/06/14AaaAA+ 125,000.00 912828UA6 1.18 US TREASURY NOTES DTD 07/31/2013 1.375% 07/31/2018 101,570.30 100,933.88 574.18 101,554.69 02/04/1502/02/15AaaAA+ 100,000.00 912828VQ0 0.92 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 20,285.16 19,883.40 21.17 19,790.63 07/07/1407/01/14AaaAA+ 20,000.00 912828A34 1.50 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 76,069.35 74,713.95 79.41 74,475.59 06/03/1406/02/14AaaAA+ 75,000.00 912828A34 1.41 US TREASURY NOTES DTD 01/31/2014 1.500% 01/31/2019 51,044.90 49,864.59 313.19 49,767.58 07/31/1407/29/14AaaAA+ 50,000.00 912828B33 1.61 US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 25,626.95 25,016.74 102.12 25,027.34 09/04/1409/02/14AaaAA+ 25,000.00 912828C65 1.60 US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 102,507.80 100,097.15 408.47 100,156.25 10/06/1410/02/14AaaAA+ 100,000.00 912828C65 1.59 US TREASURY NOTES DTD 05/15/2009 3.125% 05/15/2019 90,850.38 88,863.75 339.25 91,023.05 11/03/1410/30/14AaaAA+ 85,000.00 912828KQ2 1.50 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 151,119.15 148,554.85 377.05 148,048.83 04/30/1504/28/15AaaAA+ 150,000.00 912828TR1 1.30 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 201,492.20 197,337.09 502.73 196,273.44 02/27/1502/26/15AaaAA+ 200,000.00 912828TR1 1.42 US TREASURY NOTES DTD 09/30/2014 1.750% 09/30/2019 232,040.03 227,534.53 989.75 228,489.26 03/27/1503/26/15AaaAA+ 225,000.00 912828F39 1.39 US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 201,304.60 197,051.91 169.40 196,140.63 05/29/1505/28/15AaaAA+ 200,000.00 912828UB4 1.44 Page 5 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 177,611.35 173,130.39 731.15 172,812.50 11/09/1511/05/15AaaAA+ 175,000.00 912828UQ1 1.55 US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 104,363.30 101,661.77 835.16 101,886.72 12/04/1512/01/15AaaAA+ 100,000.00 912828VP2 1.58 US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 194,033.18 187,870.83 1,313.98 188,201.37 12/30/1512/28/15AaaAA+ 185,000.00 912828VV9 1.74 US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 103,363.30 101,697.46 294.84 101,851.56 02/03/1602/01/16AaaAA+ 100,000.00 912828WC0 1.35 US TREASURY NOTES DTD 11/15/2010 2.625% 11/15/2020 107,140.60 105,999.41 335.26 106,203.13 05/06/1605/03/16AaaAA+ 100,000.00 912828PC8 1.21 US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 182,868.18 179,665.75 296.45 179,997.07 03/04/1603/02/16AaaAA+ 175,000.00 912828A42 1.38 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 129,301.75 127,201.31 5.94 127,241.21 05/31/1605/27/16AaaAA+ 125,000.00 912828N48 1.35 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 177,037.18 177,226.03 549.86 177,228.52 06/29/1606/27/16AaaAA+ 175,000.00 912828Q37 0.98 8,433.76 2,730,205.89 2,683,330.78 1.35 2,683,823.67 2,665,000.00 Security Type Sub-Total Municipal Bond / Note CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 30,603.30 30,058.04 174.37 30,084.30 03/25/1503/16/15Aa3AA- 30,000.00 20772JZK1 1.90 174.37 30,603.30 30,058.04 1.90 30,084.30 30,000.00 Security Type Sub-Total Federal Agency Collateralized Mortgage Obligation FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 25,202.63 25,134.02 32.29 25,249.91 04/30/1504/15/15AaaAA+ 25,000.00 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 25,360.56 25,194.23 39.54 25,250.00 11/30/1511/06/15AaaAA+ 25,000.00 3136AQSW1 1.20 Page 6 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Collateralized Mortgage Obligation FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 45,484.19 45,361.45 61.73 45,450.63 10/30/1510/07/15AaaAA+ 45,000.00 3136AQDQ0 1.08 133.56 96,047.38 95,689.70 1.05 95,950.54 95,000.00 Security Type Sub-Total Federal Agency Bond / Note FANNIE MAE GLOBAL NOTES DTD 07/20/2012 0.875% 08/28/2017 100,276.20 100,058.75 298.96 100,248.00 09/10/1209/06/12AaaAA+ 100,000.00 3135G0MZ3 0.82 FANNIE MAE GLOBAL NOTES DTD 09/24/2012 0.875% 10/26/2017 125,435.25 124,668.48 197.48 124,033.75 12/03/1311/27/13AaaAA+ 125,000.00 3135G0PQ0 1.08 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 75,296.85 74,560.52 72.92 73,863.75 05/31/1305/24/13AaaAA+ 75,000.00 3135G0WJ8 1.19 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 100,395.80 99,675.09 97.22 99,155.00 05/24/1305/22/13AaaAA+ 100,000.00 3135G0WJ8 1.05 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 107,235.14 105,593.07 161.15 105,997.50 10/23/1410/22/14AaaAA+ 105,000.00 3135G0YT4 1.39 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 127,660.88 125,002.31 191.84 125,003.75 06/19/1406/16/14AaaAA+ 125,000.00 3135G0YT4 1.62 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 125,615.00 124,739.37 434.03 124,705.00 02/23/1602/19/16AaaAA+ 125,000.00 3135G0J53 1.08 FREDDIE MAC NOTES DTD 04/16/2012 1.750% 05/30/2019 154,124.55 151,118.27 226.04 151,704.00 12/03/1412/01/14AaaAA+ 150,000.00 3137EADG1 1.49 1,679.64 916,039.67 905,415.86 1.24 904,710.75 905,000.00 Security Type Sub-Total Corporate Note US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 251,197.00 250,000.00 527.08 255,340.00 07/30/1207/25/12A1A+ 250,000.00 91159HHD5 1.19 IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 100,619.50 99,849.86 496.53 99,542.00 02/08/1302/05/13Aa3AA- 100,000.00 459200HK0 1.35 Page 7 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 75,440.63 74,992.53 323.44 74,978.25 03/06/1303/04/13A1A 75,000.00 06406HCJ6 1.36 APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 55,135.36 54,924.10 88.61 54,797.05 05/03/1304/30/13Aa1AA+ 55,000.00 037833AJ9 1.08 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 80,934.56 80,000.00 26.72 80,000.00 06/24/1306/17/13Aa2AA- 80,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 51,353.10 50,286.83 354.17 50,475.00 09/04/1408/29/14A1AA- 50,000.00 17275RAR3 1.90 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 51,353.10 50,361.23 354.17 50,469.50 09/04/1509/01/15A1AA- 50,000.00 17275RAR3 1.85 GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 50,512.95 49,969.88 183.33 49,968.00 04/26/1604/21/16A3BBB+ 50,000.00 38141GVT8 2.02 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 25,172.08 24,987.26 31.32 24,987.00 06/09/1606/02/16Baa1BBB+ 25,000.00 172967KS9 2.07 AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 103,255.00 99,880.06 850.00 99,815.00 09/09/1409/04/14A1A+ 100,000.00 02665WAH4 2.29 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 27,643.23 27,548.61 293.75 27,597.50 06/08/1606/03/16A3A 25,000.00 12189TBC7 1.48 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 103,043.20 100,416.48 61.11 100,497.00 09/04/1509/01/15A3A- 100,000.00 46625HLW8 2.64 WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 51,457.00 51,075.54 85.00 51,108.00 05/10/1605/06/16A2A 50,000.00 94974BGR5 2.04 BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 51,810.95 51,123.43 458.33 51,149.00 05/19/1605/16/16A1A 50,000.00 06406FAA1 2.00 BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 25,366.23 24,983.91 72.60 24,983.50 05/16/1605/10/16A2A- 25,000.00 05531FAV5 2.06 Page 8 For the Month Ending June 30, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 25,314.23 24,907.37 56.88 24,905.50 05/24/1605/19/16A1A 25,000.00 857477AV5 2.03 4,263.04 1,129,608.12 1,115,307.09 1.72 1,120,612.30 1,110,000.00 Security Type Sub-Total Certificate of Deposit NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 100,050.00 100,000.00 115.00 100,000.00 05/29/1505/27/15Aa3AA- 100,000.00 65558LFA5 1.15 SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 100,106.00 100,000.00 933.22 100,000.00 11/17/1511/16/15P-1A-1 100,000.00 83050FBG5 1.48 HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 100,054.00 100,000.00 966.78 100,000.00 11/18/1511/17/15P-1A-1+ 100,000.00 40428AR58 1.54 ROYAL BANK OF CANADA NY CD DTD 03/11/2016 1.700% 03/09/2018 100,779.50 100,000.00 519.44 100,000.00 03/15/1603/11/16Aa3AA- 100,000.00 78009NZZ2 1.69 2,534.44 400,989.50 400,000.00 1.46 400,000.00 400,000.00 Security Type Sub-Total 5,205,000.00 5,235,181.56 1.42 17,218.81 5,229,801.47 5,303,493.86 Managed Account Sub-Total Money Market Fund CAMP Pool 15,167.60 15,167.60 0.00 15,167.60 NRAAAm 15,167.60 15,167.60 15,167.60 0.00 15,167.60 15,167.60 Money Market Sub-Total $5,220,167.60 $5,250,349.16 $17,218.81 $5,244,969.07 $5,318,661.46 1.42% $5,335,880.27 $17,218.81 Total Investments Accrued Interest Securities Sub-Total Page 9 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Security Type/Description Next Call Market YTMEffective Duration U.S. Treasury Bond / Note 0.75 156.81 70.37 50,185.60 100.37 MORGANST 50,000.00 912828SM3US TREASURY NOTES DTD 03/31/2012 1.000% 03/31/2017 0.50 0.75 1.00 324.13 346.72 125,288.13 100.23 MERRILL 125,000.00 912828TB6US TREASURY NOTES DTD 07/02/2012 0.750% 06/30/2017 0.52 1.00 1.41 1,069.30 2,504.84 125,102.50 100.08 MERRILL 125,000.00 912828UA6US TREASURY NOTES DTD 11/30/2012 0.625% 11/30/2017 0.57 1.41 2.05 636.42 15.61 101,570.30 101.57 BARCLAYS 100,000.00 912828VQ0US TREASURY NOTES DTD 07/31/2013 1.375% 07/31/2018 0.62 2.05 2.38 401.76 494.53 20,285.16 101.43 MERRILL 20,000.00 912828A34US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 0.65 2.38 2.38 1,355.40 1,593.76 76,069.35 101.43 CITIGRP 75,000.00 912828A34US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 0.65 2.38 2.52 1,180.31 1,277.32 51,044.90 102.09 BARCLAYS 50,000.00 912828B33US TREASURY NOTES DTD 01/31/2014 1.500% 01/31/2019 0.68 2.52 2.68 610.21 599.61 25,626.95 102.51 CITIGRP 25,000.00 912828C65US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 0.70 2.68 2.68 2,410.65 2,351.55 102,507.80 102.51 MERRILL 100,000.00 912828C65US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 0.70 2.68 2.76 1,986.63 (172.67) 90,850.38 106.88 MERRILL 85,000.00 912828KQ2US TREASURY NOTES DTD 05/15/2009 3.125% 05/15/2019 0.70 2.76 3.19 2,564.30 3,070.32 151,119.15 100.75 MERRILL 150,000.00 912828TR1US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 0.77 3.19 3.19 4,155.11 5,218.76 201,492.20 100.75 JPMCHASE 200,000.00 912828TR1US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 0.77 3.19 3.15 4,505.50 3,550.77 232,040.03 103.13 JPMCHASE 225,000.00 912828F39US TREASURY NOTES DTD 09/30/2014 1.750% 09/30/2019 0.77 3.15 3.35 4,252.69 5,163.97 201,304.60 100.65 CITIGRP 200,000.00 912828UB4US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 0.81 3.35 3.57 4,480.96 4,798.85 177,611.35 101.49 CITIGRP 175,000.00 912828UQ1US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 0.84 3.57 3.90 2,701.53 2,476.58 104,363.30 104.36 MERRILL 100,000.00 912828VP2US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 0.91 3.90 3.97 6,162.35 5,831.81 194,033.18 104.88 MORGANST 185,000.00 912828VV9US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 0.93 3.97 Page 10 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Security Type/Description Next Call Market YTMEffective Duration U.S. Treasury Bond / Note 4.16 1,665.84 1,511.74 103,363.30 103.36 MERRILL 100,000.00 912828WC0US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 0.96 4.16 4.14 1,141.19 937.47 107,140.60 107.14 HSBC 100,000.00 912828PC8US TREASURY NOTES DTD 11/15/2010 2.625% 11/15/2020 0.95 4.14 4.23 3,202.43 2,871.11 182,868.18 104.50 MERRILL 175,000.00 912828A42US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 0.96 4.23 4.33 2,100.44 2,060.54 129,301.75 103.44 MORGANST 125,000.00 912828N48US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 0.97 4.33 4.59 (188.85)(191.34) 177,037.18 101.16 CITIGRP 175,000.00 912828Q37US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 1.00 4.59 46,382.22 0.80 3.25 46,875.11 2,730,205.89 2,665,000.00 Security Type Sub-Total 3.25 Municipal Bond / Note 2.62 545.26 519.00 30,603.30 102.01 VINING 30,000.00 20772JZK1CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 1.22 2.62 519.00 1.22 2.62 545.26 30,603.30 30,000.00 Security Type Sub-Total 2.62 Federal Agency Collateralized Mortgage Obligation 1.57 68.61 (47.28) 25,202.63 100.81 GOLDMAN 25,000.00 3136ANJY4FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 0.97 1.60 2.27 166.33 110.56 25,360.56 101.44 GOLDMAN 25,000.00 3136AQSW1FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 1.21 1.88 2.94 122.74 33.56 45,484.19 101.08 MORGANST 45,000.00 3136AQDQ0FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 1.24 2.15 96.84 1.16 2.40 357.68 96,047.38 95,000.00 Security Type Sub-Total 1.93 Federal Agency Bond / Note 1.15 217.45 28.20 100,276.20 100.28 HSBC 100,000.00 3135G0MZ3FANNIE MAE GLOBAL NOTES DTD 07/20/2012 0.875% 08/28/2017 0.64 1.15 1.31 766.77 1,401.50 125,435.25 100.35 SOC GEN 125,000.00 3135G0PQ0FANNIE MAE GLOBAL NOTES DTD 09/24/2012 0.875% 10/26/2017 0.61 1.31 Page 11 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Security Type/Description Next Call Market YTMEffective Duration Federal Agency Bond / Note 1.87 736.33 1,433.10 75,296.85 100.40 CSFB 75,000.00 3135G0WJ8FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 0.66 1.87 1.87 720.71 1,240.80 100,395.80 100.40 BNP PARI 100,000.00 3135G0WJ8FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 0.66 1.87 2.36 1,642.07 1,237.64 107,235.14 102.13 GOLDMAN 105,000.00 3135G0YT4FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 0.73 2.36 2.36 2,658.57 2,657.13 127,660.88 102.13 HSBC 125,000.00 3135G0YT4FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 0.73 2.36 2.61 875.63 910.00 125,615.00 100.49 JPMCHASE 125,000.00 3135G0J53FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 0.81 2.61 2.84 3,006.28 2,420.55 154,124.55 102.75 TD SEC U 150,000.00 3137EADG1FREDDIE MAC NOTES DTD 04/16/2012 1.750% 05/30/2019 0.79 2.84 11,328.92 0.71 2.11 10,623.81 916,039.67 905,000.00 Security Type Sub-Total 2.11 Corporate Note 0.78 1,197.00 (4,143.00) 251,197.00 100.48 04/15/17BARCLAYS 250,000.00 91159HHD5US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 1.10 0.66 1.58 769.64 1,077.50 100,619.50 100.62 HSBC 100,000.00 459200HK0IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 0.86 1.58 1.66 448.10 462.38 75,440.63 100.59 GOLDMAN 75,000.00 06406HCJ6BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 1.00 1.54 1.82 211.26 338.31 55,135.36 100.25 GOLDMAN 55,000.00 037833AJ9APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 0.86 1.82 1.95 934.56 934.56 80,934.56 101.17 BARCLAYS 80,000.00 166764AE0CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 1.12 1.95 2.58 1,066.27 878.10 51,353.10 102.71 BONY 50,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 1.09 2.58 2.58 991.87 883.60 51,353.10 102.71 BNP PARI 50,000.00 17275RAR3CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 1.09 2.58 2.65 543.07 544.95 50,512.95 101.03 03/25/19MIZUHO 50,000.00 38141GVT8GOLDMAN SACHS GRP INC CORP NT (CALLABLE) DTD 04/25/2016 2.000% 04/25/2019 1.63 2.67 Page 12 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Security Type/Description Next Call Market YTMEffective Duration Corporate Note 2.84 184.82 185.08 25,172.08 100.69 CITIGRP 25,000.00 172967KS9CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 1.81 2.84 3.00 3,374.94 3,440.00 103,255.00 103.26 MERRILL 100,000.00 02665WAH4AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 1.19 3.00 3.01 94.62 45.73 27,643.23 110.57 GOLDMAN 25,000.00 12189TBC7BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 1.37 3.01 3.69 2,626.72 2,546.20 103,043.20 103.04 05/23/20JPMCHASE 100,000.00 46625HLW8JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 1.95 3.72 4.18 381.46 349.00 51,457.00 102.91 UBS AG 50,000.00 94974BGR5WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 1.86 4.18 4.48 687.52 661.95 51,810.95 103.62 KEYBAN 50,000.00 06406FAA1BANK OF NEW YORK MELLON CORP DTD 02/19/2016 2.500% 04/15/2021 1.71 4.48 4.60 382.32 382.73 25,366.23 101.46 SCOTIA 25,000.00 05531FAV5BRANCH BANKING & TRUST CORP NOTE DTD 05/10/2016 2.050% 05/10/2021 1.73 4.60 4.64 406.86 408.73 25,314.23 101.26 GOLDMAN 25,000.00 857477AV5STATE STREET CORP NOTES DTD 05/19/2016 1.950% 05/19/2021 1.68 4.64 8,995.82 1.28 2.36 14,301.03 1,129,608.12 1,110,000.00 Security Type Sub-Total 2.32 Certificate of Deposit 0.90 50.00 50.00 100,050.00 100.05 MERRILL 100,000.00 65558LFA5NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 1.08 0.90 1.38 106.00 106.00 100,106.00 100.11 GOLDMAN 100,000.00 83050FBG5SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 0.33 1.38 1.38 54.00 54.00 100,054.00 100.05 HSBC 100,000.00 40428AR58HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 0.93 1.38 1.68 779.50 779.50 100,779.50 100.78 RBC CAP 100,000.00 78009NZZ2ROYAL BANK OF CANADA NY CD DTD 03/11/2016 1.700% 03/09/2018 1.21 1.68 989.50 0.89 1.33 989.50 400,989.50 400,000.00 Security Type Sub-Total 1.33 5,205,000.00 5,303,493.86 68,312.30 73,692.39 2.70 0.90 Managed Account Sub-Total 2.68 Page 13 For the Month Ending June 30, 2016Managed Account Fair Market Value & Analytics Value On Cost Amort Cost to WorstCUSIPBrokerDate PriceDated Date/Coupon/Maturity Par at Mkt Market Unreal G/L Unreal G/L Duration CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Security Type/Description Next Call Market YTMEffective Duration Money Market Fund 0.00 0.00 0.00 15,167.60 1.00 15,167.60 CAMP Pool 0.00 15,167.60 15,167.60 0.00 0.00 0.00 Money Market Sub-Total 0.00 Total Investments $5,335,880.27 $17,218.81 $5,318,661.46 Accrued Interest Securities Sub-Total $5,220,167.60 $68,312.30 $73,692.39 2.70 0.90% 2.68 Page 14 For the Month Ending June 30, 2016Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method BUY 06/09/16 CITIGROUP INC CORP NOTES DTD 06/09/2016 2.050% 06/07/2019 172967KS9 (24,987.00) 0.00 (24,987.00) 25,000.00 06/02/16 06/08/16 BURLINGTON NRTH CORP DTD 09/24/2009 4.700% 10/01/2019 12189TBC7 (27,597.50)(218.68)(27,816.18) 25,000.00 06/03/16 06/29/16 US TREASURY NOTES DTD 03/31/2016 1.250% 03/31/2021 912828Q37 (177,228.52)(537.91)(177,766.43) 175,000.00 06/27/16 (756.59) (230,569.61)(229,813.02) 225,000.00 Transaction Type Sub-Total INTEREST 06/25/16 FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 3136ANJY4 0.00 32.29 32.29 25,000.00 06/01/16 06/25/16 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 3136AQDQ0 0.00 61.73 61.73 45,000.00 06/01/16 06/25/16 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 3136AQSW1 0.00 39.54 39.54 25,000.00 06/01/16 06/07/16 WELLS FARGO & COMPANY NOTES DTD 12/07/2015 2.550% 12/07/2020 94974BGR5 0.00 637.50 637.50 50,000.00 06/07/16 06/23/16 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 46625HLW8 0.00 1,375.00 1,375.00 100,000.00 06/23/16 06/24/16 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 166764AE0 0.00 687.20 687.20 80,000.00 06/24/16 06/30/16 US TREASURY N/B DTD 12/31/2015 1.750% 12/31/2020 912828N48 0.00 1,093.75 1,093.75 125,000.00 06/30/16 06/30/16 US TREASURY NOTES DTD 07/02/2012 0.750% 06/30/2017 912828TB6 0.00 468.75 468.75 125,000.00 06/30/16 4,395.76 4,395.76 0.00 575,000.00 Transaction Type Sub-Total SELL 06/09/16 US TREASURY NOTES DTD 05/15/2009 3.125% 05/15/2019 912828KQ2 15,906.45 31.84 15,938.29 (156.44) 210.70 SPEC LOT 15,000.00 06/02/16 06/08/16 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 912828TR1 25,015.63 47.13 25,062.76 481.45 354.79 SPEC LOT 25,000.00 06/03/16 Page 15 For the Month Ending June 30, 2016Managed Account Security Transactions & Interest CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Transaction Type Trade CUSIPSecurity DescriptionSettle Par Proceeds Principal Accrued Interest Total Cost Realized G/L Realized G/L Sale Amort Cost Method SELL 06/29/16 US TREASURY NOTES DTD 03/31/2012 1.000% 03/31/2017 912828SM3 175,656.25 430.33 176,086.58 252.93 554.75 SPEC LOT 175,000.00 06/27/16 509.30 1,120.24 577.94 217,087.63 216,578.33 215,000.00 Transaction Type Sub-Total (13,234.69) 4,148.47 (9,086.22) 577.94 1,120.24 Managed Account Sub-Total Total Security Transactions $577.94 ($9,086.22)$4,148.47 ($13,234.69)$1,120.24 Page 16 For the Month Ending June 30, 2016Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 24,682.50 Opening Balance 06/07/16 06/07/16 Purchase - Interest 94974BGR5 1.00 637.50 25,320.00 06/08/16 06/08/16 Purchase - Interest 912828TR1 1.00 47.13 25,367.13 06/08/16 06/08/16 Purchase - Principal 912828TR1 1.00 25,015.63 50,382.76 06/08/16 06/08/16 Redemption - Principal 12189TBC7 1.00 (27,597.50) 22,785.26 06/08/16 06/08/16 Redemption - Interest 12189TBC7 1.00 (218.68) 22,566.58 06/09/16 06/09/16 Purchase - Interest 912828KQ2 1.00 31.84 22,598.42 06/09/16 06/09/16 Purchase - Principal 912828KQ2 1.00 15,906.45 38,504.87 06/09/16 06/09/16 Redemption - Principal 172967KS9 1.00 (24,987.00) 13,517.87 06/23/16 06/23/16 Purchase - Interest 46625HLW8 1.00 1,375.00 14,892.87 06/24/16 06/24/16 Purchase - Interest 166764AE0 1.00 687.20 15,580.07 06/27/16 06/27/16 Purchase - Interest 3136ANJY4 1.00 32.29 15,612.36 06/27/16 06/27/16 Purchase - Interest 3136AQDQ0 1.00 61.73 15,674.09 06/27/16 06/27/16 Purchase - Interest 3136AQSW1 1.00 39.54 15,713.63 06/28/16 06/28/16 IP Fees May 2016 1.00 (410.07) 15,303.56 06/28/16 06/28/16 U.S. Bank Fees April 2016 1.00 (25.69) 15,277.87 06/29/16 06/29/16 Purchase - Interest 912828SM3 1.00 430.33 15,708.20 06/29/16 06/29/16 Purchase - Principal 912828SM3 1.00 175,656.25 191,364.45 06/29/16 06/29/16 Redemption - Principal 912828Q37 1.00 (177,228.52) 14,135.93 06/29/16 06/29/16 Redemption - Interest 912828Q37 1.00 (537.91) 13,598.02 06/30/16 06/30/16 Purchase - Interest 912828N48 1.00 1,093.75 14,691.77 06/30/16 06/30/16 Purchase - Interest 912828TB6 1.00 468.75 15,160.52 Page 17 For the Month Ending June 30, 2016Account Statement CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Total Settlement Dollar AmountShare or Trade Shares OwnedDate Transaction Description of TransactionUnit PriceDate CAMP Pool 06/30/16 07/01/16 Accrual Income Div Reinvestment - Distributions 1.00 7.08 15,167.60 15,167.60 15,167.60 15,167.60 16,887.40 52.01 0.00 (1,285,092.94) 1,292,750.89 7,509.65 7.08 15,167.60 0.00 (231,005.37) 221,490.47 24,682.50 Monthly Distribution Yield Average Monthly Balance Closing Balance Fiscal YTDMonth of Cash Dividends and Income Closing Balance Check Disbursements Redemptions (Excl. Checks) Purchases Opening Balance Closing Balance June January-June 0.51% Page 18 Review of Investment Performance CAMP Accounts City of Lake Elsinore Review of Investment Performance First Quarter 2016 Monique Spyke, Director spykem@pfm.com Sarah Meacham, Director meachams@pfm.com PFM Asset Management LLC © 2016 PFM Asset Management LLC © 2016 PFM Asset Management LLC Summary • Volatility ushered in the New Year, as slowing global growth drove investors out of riskier assets, such as equities and high-yield bonds, and into safe- haven securities such as U.S. government debt. Stocks posted one of their worst-ever starts to a year, with the S&P 500 falling more than 10% while commodity prices plunged. As a result, U.S. Treasury yields retraced nearly all of their fourth-quarter increases. • Fear began to abate in February, spurring a rebound in stocks and commodities, which finished the quarter at or near 2016 highs. Interest rates rose off their February lows before giving back gains after the Federal Open Market Commitee’s (FOMC’s) “dovish” March statement. • The Federal Reserve (Fed) left policy rates unchanged in the 1st quarter. The FOMC lowered expectations for only two rate hikes in 2016, and acknowledged that global economic and financial market conditions posed a risk to its outlook. • While the Fed embarks on a tightening path, other global central banks are still easing monetary policy. The European Central Bank expanded its bond purchase program to 80 billion euros per month, including the purchase of corporate bonds, while the Bank of Japan cut rates to -0.10%. Economic Snapshot • U.S. gross domestic product (GDP) grew at a 1.4% rate in the fourth quarter of 2015 and 2.4% for all of 2015 as consumer spending continued to drive growth, while business investment and net exports were a drag. Preliminary estimates of growth in the first quarter are approximately 1%. • The labor market remained strong, as employers added 628,000 net new jobs in the first three months of the year. The unemployment rate held around 5%, while the labor participation rate rose four months in a row. • Inflationary pressures picked up in the first quarter as energy prices stabilized, home prices rose, and wages showed modest improvements. The personal consumption expenditure (PCE) price index, the Fed’s most favored metric of inflation, rose 1.7% year-over-year ended February 29, 2016. • Global commodity price declines deepened early in the year, as the supply- demand imbalance remained in focus. Domestic crude oil fell to less than $30 a barrel in February, before staging a comeback and rebounding above $40 a barrel on the possibility of an output freeze by the Organization of the Petroleum Exporting Countries (OPEC). • The Chinese economy continued to slow, stoking concern that weakness in the world’s second-largest economy may negatively impact global growth, but especially emerging market countries — those dependent on commodity exports. Interest Rates • Interest rates declined in the first quarter, first due to widespread concern about the global economy and then later in the quarter after the Fed signaled a slower pace of rate increases. The two-year Treasury yield fell 33 basis points (0.33%) during the quarter, while the 10-year Treasury yield fell 50 basis points (0.50%). • In the money market space, shorter Treasuries posted small declines, but short-term credit instruments, such as commercial paper and bank certificates of deposit (CDs) offered unusually wide yield spreads. Sector Performance • U.S. Treasury indexes posted strong returns for the first quarter, as rate declines boosted market values. Longer maturity issues performed best. • Non-callable federal agency securities performed generally in line with comparable-maturity Treasuries. • Corporate yield spreads widened significantly through the middle of February amid energy-related weakness and declining corporate profits. Although corporates suffered sharp underperformance through January and much of February, spreads tightened dramatically in March, generating enough outperformance for the sector to surpass comparable-maturity Treasuries over the entire quarter. • Mortgage-backed securities were the worst-performing sector in the quarter, underperforming Treasuries. They were hurt as declining interest rates increased anticipated pre-payments. First Quarter 2016 Section A-1 © 2016 PFM Asset Management LLC Labor Market Dec 2015 Mar 2015 Unemployment Rate Mar'16 5.0%5.0%5.5% Change In Non-Farm Payrolls Mar'16 215,000 271,000 84,000 Average Hourly Earnings (YoY)Mar'16 2.3%2.6%2.2% Personal Income (YoY)Feb'16 4.0%3.9%4.0% Initial Jobless Claims (week)3/26/16 276,000 285,000 268,000 Growth Real GDP (QoQ SAAR)2015Q4 1.4%2.0%2.1% GDP Personal Consumption (QoQ SAAR)2015Q4 2.4%3.0%4.3% Retail Sales (YoY)Feb'16 3.1%2.6%2.1% ISM Manufacturing Survey (month)Mar'16 51.8 48.0 52.3 Existing Home Sales SAAR (month)Feb'16 5.08 mil. 5.45 mil. 5.25 mil. Inflation / Prices Personal Consumption Expenditures (YoY)Feb'16 1.0%0.7%0.3% Consumer Price Index (YoY)Feb'16 1.0%0.7% -0.1% Consumer Price Index Core (YoY)Feb'16 2.3%2.1%1.8% Crude Oil Futures (WTI, per barrel) Mar 31 $38.34 $37.04 $47.60 Gold Futures (oz.)Mar 31 $1,234 $1,060 $1,183 1. Data as of Third Quarter 2015 2. Data as of Fourth Quarter 2014 Note: YoY = year over year, QoQ = quarter over quarter, SAAR = seasonally adjusted annual rate, WTI = West Texas Intermediate crude oil Latest 0 100K 200K 300K 400K 2% 4% 6% 8% 3/31/13 9/30/13 3/31/14 9/30/14 3/31/15 9/30/15 3/31/16 Unemployment Rate (left) vs. Change in Nonfarm Payrolls (right) Change In Non-Farm Payrolls Unemployment Rate -2% 0% 2% 4% 6% 12/31/12 6/30/13 12/31/13 6/30/14 12/31/14 6/30/15 12/31/15 Real GDP (QoQ) -1% 0% 1% 2% 3% 3/31/13 9/30/13 3/31/14 9/30/14 3/31/15 9/30/15 Consumer Price Index CPI (YoY)Core CPI (YoY) 2 2 1 1 Economic Snapshot Source: Bloomberg Section A-2 © 2016 PFM Asset Management LLC Source: Bloomberg Interest Rate Overview U.S. Treasury Note Yields U.S. Treasury Yield Curve U.S. Treasury Yields Yield Curves as of 3/31/2016 0.0% 0.5% 1.0% 1.5% 2.0% 2.5% 3.0% 12/31/15 1/31/16 2/29/16 3/31/16Yield 2-Year 5-Year 10-Year 0% 1% 2% 3% 4%3-mo1-yr2-yr3-yr5-yr7-yr10-yr30-yrYieldMaturity March 31, 2016 December 31, 2015 March 31, 2015 Maturity 3/31/16 12/31/15 Change over Quarter 3/31/15 Change over Year 3-month 0.20% 0.17% 0.03% 0.02% 0.18% 1-year 0.58% 0.60%(0.02%)0.23% 0.35% 2-year 0.72% 1.05%(0.33%)0.56% 0.16% 5-year 1.21% 1.76%(0.55%)1.37%(0.16%) 10-year 1.77% 2.27%(0.50%)1.92%(0.15%) 30-year 2.61% 3.02%(0.41%)2.54% 0.07% 0% 1% 2% 3% 4% 5%1-yr2-yr3-yr5-yr7-yr10-yr25-yr30-yrYieldMaturity U.S. Treasury Federal Agency Industrial Corporates, A Rated Section A-3 © 2016 PFM Asset Management LLC Source: BofA Merrill Lynch Indices Duration Yield 3 Month 1 Year 3 Years 1-3 Year Indices U.S. Treasury 1.89 0.75% 0.90% 0.92% 0.77% Federal Agency 1.56 0.80% 0.86% 1.02% 0.86% U.S. Corporates, A-AAA rated 1.95 1.52% 1.09% 1.48% 1.43% Agency MBS (0 to 3 years)2.13 1.41% 0.50% 1.77% 1.37% Municipals 1.79 0.84% 0.51% 1.01% 0.87% 1-5 Year Indices U.S. Treasury 2.72 0.89% 1.57% 1.62% 1.14% Federal Agency 2.06 0.91% 1.26% 1.43% 1.14% U.S. Corporates, A-AAA rated 2.77 1.77% 1.70% 2.02% 1.97% Agency MBS (0 to 5 years)3.18 1.88% 1.47% 1.86% 2.19% Municipals 2.46 1.00% 0.72% 1.58% 1.27% Master Indices (Maturities 1 Year or Greater) U.S. Treasury 6.43 1.34% 3.35% 2.42% 2.30% Federal Agency 3.65 1.26% 2.14% 1.86% 1.75% U.S. Corporates, A-AAA rated 6.96 2.70% 3.67% 2.13% 3.26% Agency MBS (0 to 30 years)3.79 2.14% 1.95% 2.41% 2.68% Municipals 6.77 2.05% 1.64% 4.12% 3.73% Returns for periods greater than one year are annualized Returns for Periods ended 3/31/2016As of 3/31/2016 BofA Merrill Lynch Index Returns Section A-4 © 2016 PFM Asset Management LLC Disclosures The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC (PFMAM) at the time of distribution and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFMAM cannot guarantee its accuracy, completeness, or suitability. This material is for general information purposes only and is not intended to provide specific advice or recommendation. The information contained in this report is not an offer to purchase or sell any securities. PFMAM is registered with the Securities and Exchange Commission under the Investment Advisers Act of 1940. PFMAM’s clients are state and local governments, non-profit corporations, pension funds, and similar institutional investors. www.pfm.com © 2016 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. Section A-5 © 2016 PFM Asset Management LLC Portfolio Summary PORTFOLIO RECAP Section B-1 First Quarter 2016 The portfolio complies with the California Government Code and the City’s investment policy. Treasury yields ended the quarter significantly lower as fears of a global economic slowdown and plummeting oil prices pummeled equity and credit markets around the globe. As fears began to abate in mid-February and volatility subsided, market sentiment for risk assets improved, sending asset prices higher through the end of the quarter. In this volatile environment, we maintained a duration position near-neutral to, but slightly short of benchmark duration to protect the portfolio’s market value in the case of several Fed rate hikes in 2016. The yield relationship between U.S. Treasury and federal agency securities fluctuated throughout the quarter. Agency yield spreads increased to multi-year wide levels in the first half of the quarter, and we increased the City’s allocations through new purchases and swaps from Treasuries. We purchased a new issue at an attractive yield spread over U.S. Treasuries. Agency spreads tightened in the second half of the quarter, back to levels typical of prior quarters, which reduced their attractiveness by quarter end. The potential impact of slower global economic growth on corporate profits caused yield spreads in the corporate sector to widen significantly in the first half of the quarter. Subsequently, yield spreads on high-grade issues rebounded, ultimately driving the sector’s outperformance over Treasuries for the quarter. We maintained our overweight to the corporate sector, but we have a preference for financial issuers over industrials, which we believe will offer a better balance of risk and reward going forward. Aggregate Portfolio March 31, 2016 December 31, 2015 Aggregate Market Value $40,383,747.13 $39,767,707.62 Aggregate Amortized Cost $40,018,306.18 $39,865,765.17 © 2016 PFM Asset Management LLC PORTFOLIO STRATEGY We expect the U.S.economy to expand at a moderate pace in 2016 as consumer spending continues to drive positive growth.Outside the U.S., economic prospects are more challenged due to weak commodity prices,slowing growth in China,and various geopolitical risks.The market's concerns about the strength of the global economy will likely keep interest rates lower than previously expected. Economic projections released following the FOMC’s March meeting indicated that FOMC participants believe that appropriate monetary policy warrants only one to two fed funds hikes in 2016,down from four hikes projected in December. Given the likelihood that rates will not move significantly higher in the near-term,we will position the maturity distribution of the City’s portfolio to generally match the distribution of its benchmark,except where shifting to short-term credit securities offers better value. Because of narrowed yield spreads,federal agencies currently have less appeal relative to comparable-maturity U.S.Treasuries.We will monitor the yield relationship and take advantage of any opportunities that arise―opportunities are most likely to occur with newly-issued federal agency securities. Our strategy continues to favor credit sectors,including corporates notes,commercial paper,and negotiable CDs.We believe the best opportunities are currently with issuers in the financial industry,where capital is strong and spreads are wide.We are also watching the industrial sector,but are being more selective when making investments in industrial companies,especially those with exposure to energy or to slowing overseas economies. Yields on negotiable CDs adjusted to the new level of short-term rates in December and have remained elevated.These short-term credit sectors are attractive alternatives to short-term government securities,especially in the 6-12 month maturity range.We will continue to utilize these sectors as part of our overall duration and yield curve strategy,although supply constraints may hinder availability. Section B-2 First Quarter 2016 © 2016 PFM Asset Management LLC Sector Summary Portfolio Characteristics Maturity Distribution •Ratings Standard and Poor’s. •Percentages may not add up to 100% due to rounding. Portfolio Composition and Credit Quality Characteristics –City Portfolio Section B-3 First Quarter 2016 U.S. Treasuries 41% Federal Agencies 16% Certificates of Deposit 16% Agency CMO 2% Municipal 1% Corporate Notes 24% CAMP Cash Reserve Portfolio 0.1% 0.1%0% 36% 23%27% 14% 0.1%0% 38% 20% 25% 16% 0% 10% 20% 30% 40% 50% Under 6 Months 6-Months to 1-Year 1- to 2-Years 2- to 3-Years 3- to 4-Years 4- to 5-Years City - March 31, 2016 City - December 31, 2015 Security Type Market Value As of 03/31/16 % of Portfolio % Permitted by Policy In Compliance U.S. Treasuries $12,416,687 41%100% Federal Agencies $4,854,415 16%100% Corporate Notes $7,187,922 24%30% Certificates of Deposit $4,674,187 16%30% Agency CMO $529,470 2%20% Municipal Bonds $295,647 1%100% CAMP $40,950 0.1%100% TOTAL $29,999,279 100% 2.60 AA+ Duration (03/31/16) Average Credit Quality © 2016 PFM Asset Management LLC Sector Summary Portfolio Characteristics Maturity Distribution Portfolio Composition and Credit Quality Characteristics –Successor Agency Portfolio Section B-4 First Quarter 2016 Security Type Market Value As of 03/31/16 % of Portfolio % Permitted by Policy In Compliance U.S. Treasuries $2,879,804 54%100% Federal Agencies $917,501 17%100% Corporate Notes $924,150 17%30% Certificates of Deposit $401,399 8%30% Agency CMO $95,819 2%20% Municipal Bonds $30,406 1%100% CAMP $45,163 0.9%100% TOTAL $5,294,242 100% 2.56 AA+Average Credit Quality Duration (03/31/16) U.S. Treasuries 54% Federal Agencies 17% Agency CMO 2% Certificates of Deposit 8% Municipal 1%Corporate Notes 17% CAMP 1% 1% 10% 26%23%26% 14% 0%2% 34% 21% 31% 12% 0% 10% 20% 30% 40% 50% Under 6 Months 6-Months to 1-Year 1- to 2-Years 2- to 3-Years 3- to 4-Years 4- to 5-Years Successor Agency - March 31, 2016 Successor Agency - December 31, 2015 •Ratings Standard and Poor’s. •Percentages may not add up to 100% due to rounding. © 2016 PFM Asset Management LLC Sector Summary Portfolio Characteristics Maturity Distribution Portfolio Composition and Credit Quality Characteristics –Housing Fund Portfolio Section B-5 First Quarter 2016 Security Type Market Value As of 03/31/16 % of Portfolio % Permitted by Policy In Compliance U.S. Treasuries $2,538,590 50%100% Federal Agencies $835,813 16%100% Corporate Notes $1,175,774 23%30% Certificates of Deposit $401,399 8%30% Agency CMO $95,819 2%20% Municipal Bonds $30,406 1%100% CAMP $12,424 0.2%100% TOTAL $5,090,226 100% 2.59 AA+ Duration (03/31/16) Average Credit Quality 0%2% 36% 22%25% 15% 0%0% 39% 22%23% 16% 0% 10% 20% 30% 40% 50% Under 6 Months 6-Months to 1-Year 1- to 2-Years 2- to 3-Years 3- to 4-Years 4- to 5-Years Housing Fund - March 31, 2016 Housing Fund - December 31, 2015 U.S. Treasuries 50% Federal Agencies 16% Corporate Notes 23% Certificates of Deposit 8% Agency CMO 2% Municipal Bonds 1% CAMP 0.2% •Ratings Standard and Poor’s. •Percentages may not add up to 100% due to rounding. © 2016 PFM Asset Management LLC Portfolio Performance Section B-6 First Quarter 2016 1.Performance on trade-date basis, gross (i.e., before fees), in accordance with the CFA Institute’s Global Investment Performance Standards (GIPS ). 2.Merrill Lynch Indices provided by Bloomberg Financial Markets. 3.Quarterly returns are presented on an unannualized basis. Performance numbers for periods greater than one year are presented on an annualized basis. 4.The City portfolio’s inception date is September ,2010. 5.The Successor Agency portfolio’s inception date is March, 2011. 6.The Housing Fund portfolio’s inception date is June 2012. Duration Periodic Past Past Past (years)Return3 1 Year 2 Years 3 Years City Portfolio 2.60 1.59%1.80%1.83%1.32%1.60% Successor Agency Portfolio 2.56 1.54%1.74%1.80%1.28%1.63% Housing Funds Portfolio 2.59 1.52%1.66%1.79%1.25%1.25% 1.30%4 1.56%5 1.09%6 Portfolio Bank of America Merrill Lynch 1-5 Year U.S. Treasury Index2 1.14%2.65 1.57%1.62%1.76% Total Returns 1 Quarter Ended 03/31/16 Annualized Returns Since Inception 4,5,6 For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 02/29/2012 0.875% 02/28/2017 100,214.80 99,942.13 76.09 99,691.41 03/15/1203/13/12AaaAA+ 100,000.00 912828SJ0 0.94 US TREASURY NOTES DTD 03/31/2012 1.000% 03/31/2017 175,642.60 175,464.42 4.78 176,421.88 03/03/1402/27/14AaaAA+ 175,000.00 912828SM3 0.73 US TREASURY NOTES DTD 03/31/2012 1.000% 03/31/2017 250,918.00 250,191.62 6.83 250,576.17 03/21/1403/19/14AaaAA+ 250,000.00 912828SM3 0.92 US TREASURY NOTES DTD 07/02/2012 0.750% 06/30/2017 125,117.25 124,955.03 236.95 124,941.41 11/16/1511/10/15AaaAA+ 125,000.00 912828TB6 0.78 US TREASURY NOTES DTD 11/30/2012 0.625% 11/30/2017 124,799.75 123,865.06 262.55 122,597.66 05/09/1405/06/14AaaAA+ 125,000.00 912828UA6 1.18 US TREASURY NOTES DTD 07/31/2013 1.375% 07/31/2018 101,335.90 101,044.76 230.43 101,554.69 02/04/1502/02/15AaaAA+ 100,000.00 912828VQ0 0.92 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 20,222.66 19,871.63 84.02 19,790.63 07/07/1407/01/14AaaAA+ 20,000.00 912828A34 1.50 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 75,834.98 74,685.06 315.06 74,475.59 06/03/1406/02/14AaaAA+ 75,000.00 912828A34 1.41 US TREASURY NOTES DTD 01/31/2014 1.500% 01/31/2019 50,904.30 49,851.78 125.69 49,767.58 07/31/1407/29/14AaaAA+ 50,000.00 912828B33 1.61 US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 25,541.03 25,018.22 1.11 25,027.34 09/04/1409/02/14AaaAA+ 25,000.00 912828C65 1.60 US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 102,164.10 100,105.75 4.44 100,156.25 10/06/1410/02/14AaaAA+ 100,000.00 912828C65 1.59 US TREASURY NOTES DTD 05/15/2009 3.125% 05/15/2019 106,886.70 104,929.98 1,184.75 107,085.94 11/03/1410/30/14AaaAA+ 100,000.00 912828KQ2 1.50 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 150,123.00 148,446.56 4.10 148,048.83 04/30/1504/28/15AaaAA+ 150,000.00 912828TR1 1.30 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 225,184.50 221,780.16 6.15 220,807.62 02/27/1502/26/15AaaAA+ 225,000.00 912828TR1 1.42 For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 09/30/2014 1.750% 09/30/2019 230,844.83 227,724.19 10.76 228,489.26 03/27/1503/26/15AaaAA+ 225,000.00 912828F39 1.39 US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 199,914.00 196,843.00 672.13 196,140.63 05/29/1505/28/15AaaAA+ 200,000.00 912828UB4 1.44 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 176,141.53 173,007.95 190.22 172,812.50 11/09/1511/05/15AaaAA+ 175,000.00 912828UQ1 1.55 US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 103,550.80 101,760.05 335.16 101,886.72 12/04/1512/01/15AaaAA+ 100,000.00 912828VP2 1.58 US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 192,587.96 188,034.96 341.85 188,201.37 12/30/1512/28/15AaaAA+ 185,000.00 912828VV9 1.74 US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 102,457.00 101,791.63 735.58 101,851.56 02/03/1602/01/16AaaAA+ 100,000.00 912828WC0 1.35 US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 233,077.05 231,324.86 1,512.30 231,424.80 03/04/1603/02/16AaaAA+ 225,000.00 912828A42 1.38 6,340.95 2,873,462.74 2,840,638.80 1.30 2,841,749.84 2,830,000.00 Security Type Sub-Total Municipal Bond / Note CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 30,380.10 30,063.26 26.32 30,084.30 03/25/1503/16/15Aa3AA 30,000.00 20772JZK1 1.90 26.32 30,380.10 30,063.26 1.90 30,084.30 30,000.00 Security Type Sub-Total Federal Agency Collateralized Mortgage Obligation FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 25,092.65 25,158.83 32.29 25,249.91 04/30/1504/15/15AaaAA+ 25,000.00 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 25,289.95 25,218.09 39.54 25,250.00 11/30/1511/06/15AaaAA+ 25,000.00 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 45,303.01 45,394.89 61.73 45,450.63 10/30/1510/07/15AaaAA+ 45,000.00 3136AQDQ0 1.08 For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par 133.56 95,685.61 95,771.81 1.05 95,950.54 95,000.00 Security Type Sub-Total Federal Agency Bond / Note FANNIE MAE GLOBAL NOTES DTD 07/20/2012 0.875% 08/28/2017 100,225.30 100,071.36 80.21 100,248.00 09/10/1209/06/12AaaAA+ 100,000.00 3135G0MZ3 0.82 FANNIE MAE GLOBAL NOTES DTD 09/24/2012 0.875% 10/26/2017 125,235.50 124,606.15 470.92 124,033.75 12/03/1311/27/13AaaAA+ 125,000.00 3135G0PQ0 1.08 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 75,092.18 74,503.09 236.98 73,863.75 05/31/1305/24/13AaaAA+ 75,000.00 3135G0WJ8 1.19 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 100,122.90 99,632.57 315.97 99,155.00 05/24/1305/22/13AaaAA+ 100,000.00 3135G0WJ8 1.05 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 107,081.63 105,653.57 587.71 105,997.50 10/23/1410/22/14AaaAA+ 105,000.00 3135G0YT4 1.39 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 127,478.13 125,002.54 699.65 125,003.75 06/19/1406/16/14AaaAA+ 125,000.00 3135G0YT4 1.62 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 125,276.50 124,715.18 121.53 124,705.00 02/23/1602/19/16AaaAA+ 125,000.00 3135G0J53 1.08 FREDDIE MAC NOTES DTD 04/16/2012 1.750% 05/30/2019 153,593.25 151,211.94 882.29 151,704.00 12/03/1412/01/14AaaAA+ 150,000.00 3137EADG1 1.49 3,395.26 914,105.39 905,396.40 1.24 904,710.75 905,000.00 Security Type Sub-Total Corporate Note US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 251,312.50 250,000.00 1,558.33 255,340.00 07/30/1207/25/12A1A+ 250,000.00 91159HHD5 1.19 IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 100,501.50 99,826.73 184.03 99,542.00 02/08/1302/05/13Aa3AA- 100,000.00 459200HK0 1.35 BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 125,175.88 124,985.71 117.19 124,963.75 03/06/1303/04/13A1A 125,000.00 06406HCJ6 1.36 APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 55,113.36 54,913.89 226.11 54,797.05 05/03/1304/30/13Aa1AA+ 55,000.00 037833AJ9 1.08 For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 80,757.12 80,000.00 370.32 80,000.00 06/24/1306/17/13Aa1AA- 80,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 51,442.65 50,313.02 88.54 50,475.00 09/04/1408/29/14A1AA- 50,000.00 17275RAR3 1.90 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 51,442.65 50,394.23 88.54 50,469.50 09/04/1509/01/15A1AA- 50,000.00 17275RAR3 1.85 AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 102,330.60 99,870.82 287.50 99,815.00 09/09/1409/04/14A1A+ 100,000.00 02665WAH4 2.29 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 102,405.00 100,441.65 748.61 100,497.00 09/04/1509/01/15A3A- 100,000.00 46625HLW8 2.64 3,669.17 920,481.26 910,746.05 1.63 915,899.30 910,000.00 Security Type Sub-Total Certificate of Deposit NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 99,774.50 100,000.00 405.69 100,000.00 05/29/1505/27/15Aa3AA- 100,000.00 65558LFA5 1.15 SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 99,485.50 100,000.00 559.11 100,000.00 11/17/1511/16/15P-1A-1 100,000.00 83050FBG5 1.48 HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 99,985.00 100,000.00 577.50 100,000.00 11/18/1511/17/15P-1A-1+ 100,000.00 40428AR58 1.54 ROYAL BANK OF CANADA NY CD DTD 03/11/2016 1.700% 03/09/2018 100,513.00 100,000.00 99.17 100,000.00 03/15/1603/11/16Aa3AA- 100,000.00 78009NZZ2 1.69 1,641.47 399,758.00 400,000.00 1.46 400,000.00 400,000.00 Security Type Sub-Total 5,170,000.00 5,188,394.73 1.36 15,206.73 5,182,616.32 5,233,873.10 Managed Account Sub-Total Money Market Fund CAMP Pool 45,162.61 45,162.61 0.00 45,162.61 NRAAAm 45,162.61 For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE-SUCCESSOR AGENCY Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par 45,162.61 45,162.61 0.00 45,162.61 45,162.61 Money Market Sub-Total $5,215,162.61 $5,233,557.34 $15,206.73 $5,227,778.93 $5,279,035.71 1.36% $5,294,242.44 $15,206.73 Total Investments Accrued Interest Securities Sub-Total For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 03/31/2012 1.000% 03/31/2017 125,459.00 125,095.81 3.42 125,288.08 03/21/1403/19/14AaaAA+ 125,000.00 912828SM3 0.92 US TREASURY NOTES DTD 04/30/2012 0.875% 04/30/2017 250,595.75 250,668.59 919.47 251,376.95 02/05/1502/04/15AaaAA+ 250,000.00 912828SS0 0.63 US TREASURY NOTES DTD 10/01/2012 0.625% 09/30/2017 99,871.10 99,820.45 1.71 99,417.97 10/31/1210/26/12AaaAA+ 100,000.00 912828TS9 0.75 US TREASURY NOTES DTD 11/30/2012 0.625% 11/30/2017 149,759.70 148,638.07 315.06 147,117.19 05/09/1405/06/14AaaAA+ 150,000.00 912828UA6 1.18 US TREASURY NOTES DTD 05/31/2013 1.000% 05/31/2018 50,234.40 49,979.00 168.03 49,978.52 03/15/1603/11/16AaaAA+ 50,000.00 912828VE7 1.02 US TREASURY NOTES DTD 07/31/2013 1.375% 07/31/2018 101,335.90 101,044.76 230.43 101,554.69 02/04/1502/02/15AaaAA+ 100,000.00 912828VQ0 0.92 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 96,057.64 94,601.08 399.08 94,335.74 06/03/1406/02/14AaaAA+ 95,000.00 912828A34 1.41 US TREASURY NOTES DTD 01/31/2014 1.500% 01/31/2019 50,904.30 49,851.78 125.69 49,767.58 07/31/1407/29/14AaaAA+ 50,000.00 912828B33 1.61 US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 25,541.03 25,018.22 1.11 25,027.34 09/04/1409/02/14AaaAA+ 25,000.00 912828C65 1.60 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 75,061.50 74,223.27 2.05 74,024.41 04/30/1504/28/15AaaAA+ 75,000.00 912828TR1 1.30 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 175,143.50 172,495.68 4.78 171,739.26 02/27/1502/26/15AaaAA+ 175,000.00 912828TR1 1.42 US TREASURY NOTES DTD 09/30/2014 1.750% 09/30/2019 256,494.25 253,026.88 11.95 253,876.95 03/27/1503/26/15AaaAA+ 250,000.00 912828F39 1.39 US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 149,935.50 147,632.25 504.10 147,105.47 05/29/1505/28/15AaaAA+ 150,000.00 912828UB4 1.44 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 125,815.38 123,577.11 135.87 123,437.50 11/09/1511/05/15AaaAA+ 125,000.00 912828UQ1 1.55 For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 150,978.45 149,623.52 163.04 149,578.13 10/09/1510/08/15AaaAA+ 150,000.00 912828UQ1 1.32 US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 77,663.10 76,320.04 251.37 76,415.04 12/04/1512/01/15AaaAA+ 75,000.00 912828VP2 1.58 US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 182,177.80 177,870.91 323.37 178,028.32 12/30/1512/28/15AaaAA+ 175,000.00 912828VV9 1.74 US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 102,457.00 101,791.63 735.58 101,851.56 02/03/1602/01/16AaaAA+ 100,000.00 912828WC0 1.35 US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 155,384.70 154,216.58 1,008.20 154,283.20 03/04/1603/02/16AaaAA+ 150,000.00 912828A42 1.38 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 131,665.00 131,275.78 750.34 131,279.30 03/31/1603/30/16AaaAA+ 125,000.00 912828A83 1.28 6,054.65 2,532,535.00 2,506,771.41 1.26 2,505,483.20 2,495,000.00 Security Type Sub-Total Municipal Bond / Note CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 30,380.10 30,063.26 26.32 30,084.30 03/25/1503/16/15Aa3AA 30,000.00 20772JZK1 1.90 26.32 30,380.10 30,063.26 1.90 30,084.30 30,000.00 Security Type Sub-Total Federal Agency Collateralized Mortgage Obligation FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 25,092.65 25,158.83 32.29 25,249.91 04/30/1504/15/15AaaAA+ 25,000.00 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 25,289.95 25,218.09 39.54 25,250.00 11/30/1511/06/15AaaAA+ 25,000.00 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 45,303.01 45,394.89 61.73 45,450.63 10/30/1510/07/15AaaAA+ 45,000.00 3136AQDQ0 1.08 133.56 95,685.61 95,771.81 1.05 95,950.54 95,000.00 Security Type Sub-Total For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Bond / Note FREDDIE MAC GLOBAL NOTES DTD 05/14/2012 1.000% 06/29/2017 30,089.25 30,012.50 76.67 30,028.62 08/13/1408/11/14AaaAA+ 30,000.00 3137EADH9 0.97 FREDDIE MAC GLOBAL NOTES DTD 05/14/2012 1.000% 06/29/2017 120,357.00 120,061.29 306.67 120,140.40 08/13/1408/11/14AaaAA+ 120,000.00 3137EADH9 0.96 FREDDIE MAC GLOBAL NOTES DTD 08/10/2012 1.000% 09/29/2017 175,636.13 175,567.62 9.72 176,867.25 10/05/1210/04/12AaaAA+ 175,000.00 3137EADL0 0.78 FANNIE MAE GLOBAL NOTES DTD 09/24/2012 0.875% 10/26/2017 50,094.20 49,842.46 188.37 49,613.50 12/03/1311/27/13AaaAA+ 50,000.00 3135G0PQ0 1.08 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 100,122.90 99,337.45 315.97 98,485.00 05/31/1305/24/13AaaAA+ 100,000.00 3135G0WJ8 1.19 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 125,153.63 124,540.71 394.97 123,943.75 05/24/1305/22/13AaaAA+ 125,000.00 3135G0WJ8 1.05 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 107,081.63 105,653.57 587.71 105,997.50 10/23/1410/22/14AaaAA+ 105,000.00 3135G0YT4 1.39 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 125,276.50 124,715.18 121.53 124,705.00 02/23/1602/19/16AaaAA+ 125,000.00 3135G0J53 1.08 2,001.61 833,811.24 829,730.78 1.04 829,781.02 830,000.00 Security Type Sub-Total Corporate Note US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 125,656.25 125,602.28 779.17 127,670.00 07/30/1207/25/12A1A+ 125,000.00 91159HHD5 1.19 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 74,870.10 75,133.82 266.80 75,405.75 12/05/1211/29/12Aa1AA- 75,000.00 166764AA8 0.99 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 99,826.80 100,000.00 355.73 100,000.00 12/05/1211/28/12Aa1AA- 100,000.00 166764AA8 1.10 IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 100,501.50 99,826.73 184.03 99,542.00 02/08/1302/05/13Aa3AA- 100,000.00 459200HK0 1.35 BANK OF NEW YORK MELLON (CALLABLE) DTD 03/06/2013 1.350% 03/06/2018 150,211.05 149,982.86 140.63 149,956.50 03/06/1303/04/13A1A 150,000.00 06406HCJ6 1.36 For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 55,113.36 54,913.89 226.11 54,797.05 05/03/1304/30/13Aa1AA+ 55,000.00 037833AJ9 1.08 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 80,757.12 80,000.00 370.32 80,000.00 06/24/1306/17/13Aa1AA- 80,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 51,442.65 50,313.02 88.54 50,475.00 09/04/1408/29/14A1AA- 50,000.00 17275RAR3 1.90 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 51,442.65 50,394.23 88.54 50,469.50 09/04/1509/01/15A1AA- 50,000.00 17275RAR3 1.85 AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 102,330.60 99,870.82 287.50 99,815.00 09/09/1409/04/14A1A+ 100,000.00 02665WAH4 2.29 WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 177,043.48 175,950.38 637.53 176,223.25 02/05/1502/02/15A2A 175,000.00 94974BGF1 2.00 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 102,405.00 100,441.65 748.61 100,497.00 09/04/1509/01/15A3A- 100,000.00 46625HLW8 2.64 4,173.51 1,171,600.56 1,162,429.68 1.64 1,164,851.05 1,160,000.00 Security Type Sub-Total Certificate of Deposit NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 99,774.50 100,000.00 405.69 100,000.00 05/29/1505/27/15Aa3AA- 100,000.00 65558LFA5 1.15 SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 99,485.50 100,000.00 559.11 100,000.00 11/17/1511/16/15P-1A-1 100,000.00 83050FBG5 1.48 HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 99,985.00 100,000.00 577.50 100,000.00 11/18/1511/17/15P-1A-1+ 100,000.00 40428AR58 1.54 ROYAL BANK OF CANADA NY CD DTD 03/11/2016 1.700% 03/09/2018 100,513.00 100,000.00 99.17 100,000.00 03/15/1603/11/16Aa3AA- 100,000.00 78009NZZ2 1.69 1,641.47 399,758.00 400,000.00 1.46 400,000.00 400,000.00 Security Type Sub-Total For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - HOUSING FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par 5,010,000.00 5,026,150.11 1.33 14,031.12 5,024,766.94 5,063,770.51 Managed Account Sub-Total Money Market Fund CAMP Pool 12,424.48 12,424.48 0.00 12,424.48 NRAAAm 12,424.48 12,424.48 12,424.48 0.00 12,424.48 12,424.48 Money Market Sub-Total $5,022,424.48 $5,038,574.59 $14,031.12 $5,037,191.42 $5,076,194.99 1.33% $5,090,226.11 $14,031.12 Total Investments Accrued Interest Securities Sub-Total For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 07/02/2012 0.750% 06/30/2017 325,304.85 324,883.07 616.07 324,847.66 11/16/1511/10/15AaaAA+ 325,000.00 912828TB6 0.78 US TREASURY NOTES DTD 11/30/2012 0.625% 11/30/2017 524,158.95 520,233.25 1,102.72 514,910.15 05/09/1405/06/14AaaAA+ 525,000.00 912828UA6 1.18 US TREASURY NOTES DTD 07/31/2013 1.375% 07/31/2018 886,689.13 884,141.62 2,016.23 888,603.52 02/04/1502/02/15AaaAA+ 875,000.00 912828VQ0 0.92 US TREASURY NOTES DTD 12/02/2013 1.250% 11/30/2018 374,119.21 368,446.30 1,554.30 367,412.89 06/03/1406/02/14AaaAA+ 370,000.00 912828A34 1.41 US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 163,462.56 160,116.60 7.10 160,175.00 09/04/1409/02/14AaaAA+ 160,000.00 912828C65 1.60 US TREASURY NOTES DTD 03/31/2014 1.625% 03/31/2019 587,443.58 575,608.05 25.53 575,898.44 10/06/1410/02/14AaaAA+ 575,000.00 912828C65 1.59 US TREASURY NOTES DTD 05/15/2009 3.125% 05/15/2019 534,433.50 524,649.87 5,923.76 535,429.69 11/03/1410/30/14AaaAA+ 500,000.00 912828KQ2 1.50 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 300,246.00 296,893.11 8.20 296,097.66 04/30/1504/28/15AaaAA+ 300,000.00 912828TR1 1.30 US TREASURY NOTES DTD 10/01/2012 1.000% 09/30/2019 1,000,820.00 985,689.58 27.32 981,367.18 02/27/1502/26/15AaaAA+ 1,000,000.00 912828TR1 1.42 US TREASURY NOTES DTD 09/30/2014 1.750% 09/30/2019 1,282,471.25 1,265,134.39 59.77 1,269,384.77 03/27/1503/26/15AaaAA+ 1,250,000.00 912828F39 1.39 US TREASURY NOTES DTD 11/30/2012 1.000% 11/30/2019 1,049,548.50 1,033,425.72 3,528.69 1,029,738.28 05/29/1505/28/15AaaAA+ 1,050,000.00 912828UB4 1.44 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 553,587.65 545,470.92 597.83 544,822.27 09/03/1509/02/15AaaAA+ 550,000.00 912828UQ1 1.47 US TREASURY NOTES DTD 02/28/2013 1.250% 02/29/2020 1,157,501.45 1,136,909.41 1,250.00 1,135,625.00 11/09/1511/05/15AaaAA+ 1,150,000.00 912828UQ1 1.55 US TREASURY NOTES DTD 07/31/2013 2.000% 07/31/2020 595,417.10 585,120.26 1,927.20 585,848.63 12/04/1512/01/15AaaAA+ 575,000.00 912828VP2 1.58 For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par U.S. Treasury Bond / Note US TREASURY NOTES DTD 09/03/2013 2.125% 08/31/2020 1,093,066.80 1,067,225.44 1,940.22 1,068,169.92 12/30/1512/28/15AaaAA+ 1,050,000.00 912828VV9 1.74 US TREASURY NOTES DTD 10/31/2013 1.750% 10/31/2020 860,638.80 855,049.71 6,178.85 855,553.13 02/03/1602/01/16AaaAA+ 840,000.00 912828WC0 1.35 US TREASURY NOTE DTD 12/02/2013 2.000% 11/30/2020 699,231.15 693,974.60 4,536.89 694,274.41 03/04/1603/02/16AaaAA+ 675,000.00 912828A42 1.38 US TREASURY NOTES DTD 12/31/2013 2.375% 12/31/2020 394,995.00 393,827.34 2,251.03 393,837.89 03/31/1603/30/16AaaAA+ 375,000.00 912828A83 1.28 33,551.71 12,383,135.48 12,216,799.24 1.41 12,221,996.49 12,145,000.00 Security Type Sub-Total Municipal Bond / Note UNIV OF CAL TXBL REV BONDS DTD 04/10/2014 1.904% 05/15/2018 127,512.50 125,000.00 899.11 125,000.00 04/10/1404/04/14Aa2AA 125,000.00 91412GUV5 1.90 CT ST TXBL GO BONDS DTD 03/25/2015 1.974% 03/15/2019 167,090.55 165,347.96 144.76 165,463.65 03/25/1503/16/15Aa3AA 165,000.00 20772JZK1 1.90 1,043.87 294,603.05 290,347.96 1.90 290,463.65 290,000.00 Security Type Sub-Total Federal Agency Collateralized Mortgage Obligation FNMA SERIES 2015-M7 ASQ2 DTD 04/01/2015 1.550% 04/01/2018 135,500.32 135,857.66 174.38 136,349.51 04/30/1504/15/15AaaAA+ 135,000.00 3136ANJY4 0.83 FNMA SERIES 2015-M15 ASQ2 DTD 11/01/2015 1.898% 01/01/2019 126,449.75 126,090.42 197.74 126,249.99 11/30/1511/06/15AaaAA+ 125,000.00 3136AQSW1 1.20 FANNIE MAE SERIES 2015-M13 ASQ2 DTD 10/01/2015 1.646% 09/01/2019 266,784.38 267,325.42 363.49 267,653.68 10/30/1510/07/15AaaAA+ 265,000.00 3136AQDQ0 1.08 735.61 528,734.45 529,273.50 1.05 530,253.18 525,000.00 Security Type Sub-Total Federal Agency Bond / Note FREDDIE MAC GLOBAL NOTES DTD 05/14/2012 1.000% 06/29/2017 481,428.00 480,245.16 1,226.67 480,561.60 08/13/1408/11/14AaaAA+ 480,000.00 3137EADH9 0.96 For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Federal Agency Bond / Note FANNIE MAE GLOBAL NOTES DTD 07/20/2012 0.875% 08/28/2017 801,802.40 800,570.90 641.67 801,984.00 09/10/1209/06/12AaaAA+ 800,000.00 3135G0MZ3 0.82 FREDDIE MAC GLOBAL NOTES DTD 08/10/2012 1.000% 09/29/2017 476,726.63 476,540.67 26.39 480,068.25 10/05/1210/04/12AaaAA+ 475,000.00 3137EADL0 0.78 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 400,491.60 397,349.81 1,263.89 393,940.00 05/31/1305/24/13AaaAA+ 400,000.00 3135G0WJ8 1.19 FANNIE MAE GLOBAL NOTES DTD 04/15/2013 0.875% 05/21/2018 575,706.68 572,887.25 1,816.84 570,141.25 05/24/1305/22/13AaaAA+ 575,000.00 3135G0WJ8 1.05 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 356,938.75 350,007.12 1,959.03 350,010.50 06/19/1406/16/14AaaAA+ 350,000.00 3135G0YT4 1.62 FANNIE MAE GLOBAL NOTES DTD 10/01/2013 1.625% 11/27/2018 637,390.63 628,890.29 3,498.26 630,937.50 10/23/1410/22/14AaaAA+ 625,000.00 3135G0YT4 1.39 FNMA BENCHMARK NOTE DTD 02/23/2016 1.000% 02/26/2019 726,603.70 723,348.07 704.86 723,289.00 02/23/1602/19/16AaaAA+ 725,000.00 3135G0J53 1.08 FREDDIE MAC NOTES DTD 04/16/2012 1.750% 05/30/2019 383,983.13 378,029.85 2,205.73 379,260.00 12/03/1412/01/14AaaAA+ 375,000.00 3137EADG1 1.49 13,343.34 4,841,071.52 4,807,869.12 1.11 4,810,192.10 4,805,000.00 Security Type Sub-Total Corporate Note WAL-MART STORES INC SR NOTES DTD 04/05/2007 5.375% 04/05/2017 491,470.07 487,169.01 12,350.56 551,822.30 04/11/1204/05/12Aa2AA 470,000.00 931142CG6 1.72 US BANCORP (CALLABLE) DTD 05/08/2012 1.650% 05/15/2017 703,675.00 700,000.00 4,363.33 714,952.00 07/30/1207/25/12A1A+ 700,000.00 91159HHD5 1.19 JOHN DEERE CAPITAL CORP NOTES DTD 06/12/2014 1.125% 06/12/2017 435,694.26 434,917.59 1,481.72 434,795.55 06/12/1406/09/14A2A 435,000.00 24422ESN0 1.14 HSBC USA INC DTD 06/23/2014 1.300% 06/23/2017 249,906.75 249,842.68 884.72 249,620.00 06/23/1406/16/14A2A 250,000.00 40434CAA3 1.35 For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note CATERPILLAR FINANCIAL SE DTD 08/20/2014 1.250% 08/18/2017 320,998.72 319,925.47 477.78 319,840.00 08/20/1408/13/14A2A 320,000.00 14912L6D8 1.27 AMERICAN EXPRESS CREDIT CORP NOTES DTD 09/23/2014 1.550% 09/22/2017 200,637.40 199,866.51 77.50 199,732.00 09/23/1409/18/14A2A- 200,000.00 0258M0DR7 1.60 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 149,740.20 150,000.00 533.60 150,000.00 12/05/1211/28/12Aa1AA- 150,000.00 166764AA8 1.10 CHEVRON CORP (CALLABLE) GLOBAL NOTES DTD 12/05/2012 1.104% 12/05/2017 174,696.90 175,312.25 622.53 175,946.75 12/05/1211/29/12Aa1AA- 175,000.00 166764AA8 0.99 IBM CORP GLOBAL NOTES DTD 02/08/2013 1.250% 02/08/2018 251,253.75 249,566.82 460.07 248,855.00 02/08/1302/05/13Aa3AA- 250,000.00 459200HK0 1.35 BERKSHIRE HATHAWAY GLOBAL NOTE DTD 02/11/2013 1.550% 02/09/2018 403,722.00 399,788.31 895.56 399,444.00 02/11/1301/29/13Aa2AA 400,000.00 084670BH0 1.58 WAL-MART STORES INC GLOBAL NOTES DTD 04/11/2013 1.125% 04/11/2018 302,254.80 299,886.17 1,593.75 299,724.00 04/11/1304/04/13Aa2AA 300,000.00 931142DF7 1.14 APPLE INC GLOBAL NOTES DTD 05/03/2013 1.000% 05/03/2018 310,638.91 309,514.67 1,274.44 308,856.10 05/03/1304/30/13Aa1AA+ 310,000.00 037833AJ9 1.08 CHEVRON CORP GLOBAL NOTES DTD 06/24/2013 1.718% 06/24/2018 444,164.16 440,000.00 2,036.78 440,000.00 06/24/1306/17/13Aa1AA- 440,000.00 166764AE0 1.72 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 277,790.31 271,690.28 478.13 272,565.00 09/04/1408/29/14A1AA- 270,000.00 17275RAR3 1.90 CISCO SYSTEMS INC GLOBAL NOTES DTD 03/03/2014 2.125% 03/01/2019 308,655.90 302,365.40 531.25 302,817.00 09/04/1509/01/15A1AA- 300,000.00 17275RAR3 1.85 AMERICAN HONDA FINANCE GLOBAL NOTES DTD 09/09/2014 2.250% 08/15/2019 588,400.95 574,257.22 1,653.13 573,936.25 09/09/1409/04/14A1A+ 575,000.00 02665WAH4 2.29 GENERAL ELECTRIC CAP CORP NOTES DTD 01/08/2010 5.500% 01/08/2020 286,764.00 281,098.96 3,170.14 289,082.50 03/25/1503/20/15A1AA+ 250,000.00 36962G4J0 2.05 WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 75,875.78 75,230.83 273.23 75,288.00 03/27/1503/24/15A2A 75,000.00 94974BGF1 2.07 For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par Corporate Note WELLS FARGO & CO DTD 02/02/2015 2.150% 01/30/2020 379,378.88 377,036.53 1,366.15 377,621.25 02/05/1502/02/15A2A 375,000.00 94974BGF1 2.00 TOYOTA MOTOR CORP NOTES DTD 03/12/2015 2.150% 03/12/2020 204,318.80 201,428.21 226.94 201,776.00 03/27/1503/23/15Aa3AA- 200,000.00 89236TCF0 1.96 JP MORGAN CHASE & CO CORP NT (CALLABLE) DTD 06/23/2015 2.750% 06/23/2020 588,828.75 577,539.48 4,304.51 577,857.75 09/04/1509/01/15A3A- 575,000.00 46625HLW8 2.64 39,055.82 7,148,866.29 7,076,436.39 1.67 7,164,531.45 7,020,000.00 Security Type Sub-Total Certificate of Deposit CANADIAN IMPERIAL BANK NY YCD DTD 04/10/2015 1.010% 04/06/2017 574,074.25 575,000.00 2,823.09 575,000.00 04/10/1504/06/15P-1A-1 575,000.00 13606JYY9 1.01 RABOBANK NEDERLAND NV CERT DEPOS DTD 04/27/2015 1.070% 04/21/2017 574,209.38 575,000.00 2,734.44 575,000.00 04/27/1504/22/15P-1A-1 575,000.00 21684BXH2 1.07 NORDEA BANK FINLAND NY CD DTD 05/29/2015 1.150% 05/26/2017 573,703.38 575,000.00 2,332.74 575,000.00 05/29/1505/27/15Aa3AA- 575,000.00 65558LFA5 1.15 TORONTO DOMINION BANK NY YCD DTD 06/19/2015 1.240% 06/16/2017 625,815.63 625,000.00 6,156.94 625,000.00 06/19/1506/16/15Aa1AA- 625,000.00 89113ESN7 1.25 BANK OF NOVA SCOTIA HOUSTON YCD DTD 11/09/2015 1.560% 11/06/2017 576,788.25 575,000.00 3,538.17 575,000.00 11/09/1511/06/15P-1A-1 575,000.00 06417GAS7 1.55 SKANDINAVISKA ENSKILDA BANKEN NY CD DTD 11/17/2015 1.480% 11/16/2017 572,041.63 575,000.00 3,214.89 575,000.00 11/17/1511/16/15P-1A-1 575,000.00 83050FBG5 1.48 HSBC BANK USA NA CD DTD 11/18/2015 1.540% 11/17/2017 574,913.75 575,000.00 3,320.63 575,000.00 11/18/1511/17/15P-1A-1+ 575,000.00 40428AR58 1.54 ROYAL BANK OF CANADA NY CD DTD 03/11/2016 1.700% 03/09/2018 577,949.75 575,000.00 570.21 575,000.00 03/15/1603/11/16Aa3AA- 575,000.00 78009NZZ2 1.69 24,691.11 4,649,496.02 4,650,000.00 1.34 4,650,000.00 4,650,000.00 Security Type Sub-Total For the Month Ending March 31, 2016Managed Account Detail of Securities Held CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS Dated Date/Coupon/Maturity CUSIP Rating Rating Date Date Cost at Cost Interest Cost Value Security Type/Description S&P Moody's Original YTM Accrued Amortized MarketTrade Settle Par 29,435,000.00 29,667,436.87 1.41 112,421.46 29,570,726.21 29,845,906.81 Managed Account Sub-Total Money Market Fund CAMP Pool 40,950.31 40,950.31 0.00 40,950.31 NRAAAm 40,950.31 40,950.31 40,950.31 0.00 40,950.31 40,950.31 Money Market Sub-Total $29,475,950.31 $29,708,387.18 $112,421.46 $29,611,676.52 $29,886,857.12 1.41% $29,999,278.58 $112,421.46 Total Investments Accrued Interest Securities Sub-Total June 28, 2016 Brexit Upheaval: Impact on Fixed Income Portfolios From the Investment Team of PFM Asset Management LLC © 2016 1 Last week’s historic referendum in favor of a British exit (Brexit) from the European Union (EU) came as a shock to people worldwide. The vote prompted British Prime Minister David Cameron to resign and sent global markets reeling. Brexit represents the end of an often rocky relationship that has existed for nearly half a century, since the United Kingdom (UK) joined the EU in 1973. In light of this unprecedented departure, PFM Asset Management LLC (PFMAM) has addressed questions that are likely on clients’ minds: How have markets reacted? Uncertainty prompted a selloff in equities markets, particularly European and UK markets. Fixed-income markets rallied, as investors sought safety in investments such as U.S. Treasuries. Prices of government bonds rose, and yields dropped 0.15% to 0.20% overnight following the vote. Yield spreads on investment-grade corporate bonds rose by similar amounts, reflecting heightened awareness of the long-term effects a UK exit could have on corporate earnings and credit quality, especially those on European banks. Unlike in 2008, market liquidity has not been impacted in a material way. How have PFMAM-managed fixed-income portfolios weathered the Brexit vote? PFMAM’s investment strategy in the weeks leading up to the Brexit vote entailed these actions: • maintaining portfolio durations near their target levels to reduce performance deviations caused by large interest rate moves in fixed-income accounts, • keeping portfolios broadly diversified by sector and issuer, and • maintaining a careful approach to credit in our fixed-income allocations; for example, carefully limiting our approved list of UK and European banks. The results have been positive. Fixed-income portfolios that we manage generally gained in value in the aftermath of the Brexit vote, benefitting from the overall decline in interest rates. How is PFMAM thinking about portfolios going forward through year-end? Fixed-income portfolios are generally well-positioned for uncertainty as their overall credit quality and holdings of liquid securities are high. We are taking the time to carefully reassess credit positions in these portfolios, although it is important to note that so far, market turmoil has had a minimal effect on domestic investment-grade credit markets. For UK banks and companies with ties to the UK economy, Brexit increases the uncertainty of performance in the future. PFMAM will continue to employ its thorough credit review process in assessing issuers prior to investing in them. How might central banks react to this outcome? Various central banks have assured investors that they will provide liquidity whenever it is needed to avoid an economic crisis. In the U.S., Brexit has sharply reduced the odds of the Federal Reserve raising interest rates this year. © 2016 2 What is Brexit’s potential impact on economies around the globe? Because the UK will likely take at least two years to work out the terms of its departure, it is too early to determine the longer- term impact of how global economies will be affected. The EU could struggle with losing its second-largest economy with a $3 trillion gross domestic product. The most direct impact could be a disruption in trade between the UK and EU, which may lead to a slowdown in both economies. Because of the decline in the value of the British pound and the euro, a slowdown in Europe could spill over to the U.S. economy by reducing exports, but the impact is expected to be modest. The global impact could be even greater if other countries attempt to follow the UK’s lead in leaving the EU. What is PFMAM’s outlook for markets going forward? The current volatility could continue for weeks or months. With Brexit uncertainty dominating markets, UK and European equities will likely underperform U.S. equities, while U.S. dollar-denominated bonds are likely to outperform as investors seek safe havens. In light of Brexit, PFMAM will remain vigilant on behalf of our clients. Our investment professionals will continue to work diligently as we seek to meet our clients’ performance objectives while focusing on protecting principal and managing risk in times of uncertainty. We will continue to communicate with you as we move through these uncharted waters. The views expressed within this material constitute the perspective and judgment of PFM Asset Management LLC (PFMAM) at the time of distribution and are subject to change. Information is obtained from sources generally believed to be reliable and available to the public; however, PFMAM cannot guarantee its accuracy, completeness, or suitability. This material is for general information purposes only and is not intended to provide specific advice or recommendation. All statements as to what will or may happen under certain circumstances are based on assumptions, some but not all of which may be noted. Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Any forecast, projection, or prediction of market or economic trends, or the results of any management decisions are based upon current opinion and information available as of the date of issue, and are also subject to change. PFMAM is registered with the SEC under the Investment Advisers Act of 1940. A copy of our Form ADV, Parts 2A & B is available upon request. The information contained in this report is not an offer to purchase or sell any securities. For further information, please call your contact. Text File City of Lake Elsinore 130 South Main Street Lake Elsinore, CA 92530 www.lake-elsinore.org File Number: TMP-1584 Agenda Date: 7/26/2016 Status: Consent AgendaVersion: 1 File Type: ReportIn Control: Successor Agency Agenda Number: 3) Page 1 City of Lake Elsinore Printed on 7/21/2016 REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE To:Honorable Chairman and the Successor Agency From:Barbara Leibold, Successor Agency Counsel Date:July 26, 2016 Subject:Ratifying Adoption of Resolution Approving Sale of Property to the City of Lake Elsinore, in its Capacity as the Successor to the Housing Assets and Functions of the Former Redevelopment Agency for Affordable Housing Purposes Recommendation: Ratify the adoption of A RESOLUTION OF THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE APPROVING A PURCHASE AND SALE AGREEMENT FOR THE SALE OF REAL PROPERTY TO THE CITY OF LAKE ELSINORE, IN ITS CAPACITY AS THE SUCCESSOR TO THE HOUSING ASSETS AND FUNCTIONS OF THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE UNDER HEALTH & SAFETY CODE SECTION 34176(a)(1), FOR AFFORDABLE HOUSING PURPOSES IN ACCORDANCE WITH HEALTH & SAFETY CODE SECTION 34176.1(a)(3)(A) Discussion: Consent calendar Item # 4 on the June 28, 2016 regular meeting agenda recommended adoption of the above-referenced Resolution. The staff report, property maps, and Purchase and Sale Agreement describing the proposed transaction, idenitying the properties and setting forth the terms and conditions of the proposed sale were properly uploaded to the City’s website and linked to the June 28, 2016 Agenda as exhibits. Successor Agency Counsel inadvertently uploaded and linked a duplicate of the Resolution for consent calendar Item #5 and is now requesting that the Successor Agency ratify the action approving the attached correct version of the Resolution. For reference purposes only, the June 28, 2016 Staff Report, property maps.and Purchase and Sale Agreement are also attached. Attachments:Resolution No. SA 2016-0 June 28, 2016 Staff Report & Attachments RESOLUTION NO. SA-2016-___ A RESOLUTION OF THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE APPROVING A PURCHASE AND SALE AGREEMENT FOR THE SALE OF REAL PROPERTY TO THE CITY OF LAKE ELSINORE, IN ITS CAPACITY AS THE SUCCESSOR TO THE HOUSING ASSETS AND FUNCTIONS OF THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE UNDER HEALTH & SAFETY CODE SECTION 34176(a)(1), FOR AFFORDABLE HOUSING PURPOSES IN ACCORDANCE WITH HEALTH & SAFETY CODE SECTION 34176.1(a)(3)(A) WHEREAS, the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore (the “Successor Agency”) has been established to wind down the affairs of the former Redevelopment Agency of the City of Lake Elsinore (“Agency”) in accordance with the California Health & Safety Code (“HSC”) Section 34179; and WHEREAS, the Successor Agency completed the Due Diligence Reviews (“DDRs”) required under HSC Section 34179.5 and submitted them for approval to the Oversight Board and the California Department of Finance (“DOF”); and WHEREAS, the Oversight Board and the DOF reviewed and approved the DDRs; and WHEREAS, as a result of the approval of the DDRs and resulting payments of funds to the county auditor-controller, DOF issued the Successor Agency a “Finding of Completion” as described in HSC Section 34179.7; and WHEREAS, as a result of its receipt of Finding of Completion, the Successor Agency was required to (i) prepare a “Long Range Property Management Plan” (“LRPMP”) meeting the requirements of HSC Section 34191.5(c), and (ii) submit the LRPMP to the Oversight Board and the DOF for approval within six months of the date of the Finding of Completion; and WHEREAS,the Successor Agency prepared its LRPMP in accordance with HSC Section 34191.5(c) and submitted it to the Oversight Board for approval; and WHEREAS, the Oversight Board approved the LRPMP and directed that it be submitted to the DOF for approval in accordance with HSC Section 34191.5(c); and WHEREAS, notwithstanding the timely approval and submission of the LRPMP by the Oversight Board, DOF did not approve the LRPMP by December 31, 2015; and WHEREAS, as a result, the statutory requirements for disposition of real property set forth in HSC Sections 34181(a) and 34177(e) currently apply to the disposition of property by the Successor Agency; and WHEREAS, the City of Lake Elsinore (“City”), in its capacity as successor to the housing assets and functions of the former Agency, has indicated a desire to purchase certain properties owned by the Successor Agency (“Disposition Parcels”) for affordable housing purposes; and WHEREAS, the City proposes to purchase the Disposition Parcels utilizing funds from the Low and Moderate Income Housing Asset Fund, at a price equal to fair market value as determined by an appraisal prepared by a third party, licensed appraiser; and RESOLUTION NO. SA 2016-___ Page 2 WHEREAS, the Successor Agency has been provided with appraisals for the Disposition Properties and a form of Purchase and Sale Agreement between the City and the Successor Agency; and WHEREAS, the Successor Agency desires to approve a Purchase and Sale Agreement to be entered into by the Successor Agency for the sale of the Disposition Properties; and WHEREAS, the Successor Agency desires to utilize the proceeds from the sale of the Disposition Properties to pay enforceable obligations of the Successor Agency; and WHEREAS, all other legal prerequisites to the adoption of this Resolution have occurred. NOW, THEREFORE, THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, DOES HEREBY RESOLVE, DETERMINE AND ORDER AS FOLLOWS: SECTION 1.The Recitals set forth above are true and correct and incorporated herein by reference. SECTION 2.The Successor Agency hereby approves the sale of the Disposition Properties to the City in accordance with a Purchase and Sale Agreement substantially in the form attached hereto. The Executive Director is directed to utilize the proceeds of the sale of the Disposition Properties to make payments on the enforceable obligations listed on any ROPS approved by DOF, with excess proceeds (if any) to be distributed to other taxing entities in accordance with HSC Section 34179.5(c)(2)(B). SECTION 3.The Executive Director is authorized and directed to do any and all things, and to execute any and all documents, including, without limitation, a Purchase and Sale Agreement substantially in the form attached hereto, which he may deem necessary or advisable to effectuate this Resolution. Any previously-taken acts or previously-executed documents in furtherance of the subject matter hereof are hereby ratified. SECTION 4.If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of this Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The Successor Agency hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof. SECTION 5.The Agency Secretary shall certify to the passage and adoption of this Resolution and enter it into the book of original resolutions. RESOLUTION NO. SA 2016-___ Page 3 SECTION 6.This Resolution shall take effect immediately upon its adoption. PASSED AND ADOPTED 28th day of June 2016. Robert E. Magee, Vice Chair ATTEST: Susan M. Domen, MMC Agency Secretary APPROVED AS TO FORM: Barbara Leibold Agency Counsel Attachments:Purchase and Sale Agreement RESOLUTION NO. SA 2016-___ Page 4 STATE OF CALIFORNIA ) COUNTY OF RIVERSIDE ) ss. CITY OF LAKE ELSINORE ) I, Susan M. Domen, MMC, Secretary of the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore, California, do hereby certify that Resolution No. ______ was adopted by Successor Agency of the Redevelopment Agency of the the City of Lake Elsinore, California, at the regular meeting of _________, and that the same was adopted by the following vote: AYES: NOES: ABSENT: ABSTAIN: Susan M. Domen, MMC Agency Secretary REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE To:Honorable Chairman and the Successor Agency From:Grant Yates, Executive Director Prepared By: Barbara Leibold, Successor Agency Counsel Date:June 28, 2016 Subject:Approval of Sale of Property to the City of Lake Elsinore, in its Capacity as the Successor to the Housing Assets and Functions of the Former Redevelopment Agency of the City of Lake Elsinore, for Affordable Housing Purposes in accordance with Health & Safety Code Section 34176.1(a)(3)(A) Recommendation Adopt A RESOLUTION OF THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE APPROVING A PURCHASE AND SALE AGREEMENT FOR THE SALE OF REAL PROPERTY TO THE CITY OF LAKE ELSINORE, IN ITS CAPACITY AS THE SUCCESSOR TO THE HOUSING ASSETS AND FUNCTIONS OF THE FORMER REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE UNDER HEALTH & SAFETY CODE SECTION 34176(a)(1), FOR AFFORDABLE HOUSING PURPOSES IN ACCORDANCE WITH HEALTH &SAFETY CODE SECTION 34176.1(a)(3)(A) Background As part of the dissolution of the former Redevelopment Agency, Health & Safety Code Section 34177(e) requires the Oversight Board to direct the Successor Agency to dispose of the real property held by the Successor Agency. The Successor Agency has identified the properties listed in Attachment No. 1 to Exhibit A to Resolution SA 2016-0 attached hereto (collectively, the “Properties”) as properties to be sold to the City of Lake Elsinore for affordable housing purposes. The Successor Agency and Oversight Board have previously approved a Long Range Property Management Plan (LRPMP) which identified the same properties as properties to be transferred to the City for future development. Excerpts from the previously approved LRPMP describing the Properties are attached to this Report. The Properties proposed to be transferred are identified as Parcels 18-21 and 25-36 on the attached data sheets and maps from the LRPMP. Transfer of Properties for Affordable Housing Purposes June 28, 2016 Page 2 of 3 Discussion The Successor Agency must dispose of real property in accordance with Health & Safety Code Sections 34177(e) and 34181(a). The data sheets from the LRPMP for each of the properties previously approved to be transferred to the City for future development are attached. All of the properties were previously approved by the Oversight Board as properties to be transferred to the City for future development. Since the date of the LRPMP, the City, in its capacity as the Successor to the Housing Assets and Functions of the Former Redevelopment Agency of the City of Lake Elsinore under Health & Safety Code Section 34176(A)(1), has determined that the Properties are appropriate for the development of affordable housing. Accordingly, the City proposes to purchase the Properties for fair market value with monies from the Low and Moderate Income Housing Asset Fund created in accordance with Health & Safety Code Section 34176 (d). The Properties shall be utilized by the City in accordance with the Community Redevelopment Law (Part 1(commencing with Section 33000)), as amended by Health & Safety Code Section 34176.1, and, in particular, for the development of affordable housing in accordance with Health & Safety Code Section 34176.1(a)(3)(A). In accordance with California Health & Safety Code Sections 34177(e) and 34181(a), the net proceeds of the purchase price, after reduction for the costs of sale of the Properties such as appraisal, title and escrow fees, shall be used by the Successor Agency to pay enforceable obligations on an approved Recognized Obligation Payment Schedule. Any excess shall be transferred to the Riverside County Auditor-Controller for distribution as property tax proceeds. A proposed form of Purchase and Sale Agreement implementing the foregoing is attached to Resolution SA 2016-0 . The Purchase and Sale Agreement requires the purchase and sale of the Properties at a total purchase price of $720,000 which is equal to fair market value, as determined by a third party, licensed appraiser. Based upon such appraisals, Parcels 18-21 appraised at $370,000 and Parcels 25-36 appraised at $350,000. Property Transfer In addition to approving the form of Purchase and Sale Agreement for the sale of the Properties, the attached resolution authorizes the Executive Director to convey the Properties to the City by grant deed and to take any action and execute any documents as may be necessary to implement the conveyance of the Properties to the City. Once approved by the Successor Agency, the sale of the properties must be approved by the Oversight Board. The Oversight Board’s Resolution approving the Purchase and Sale Agreement must be transmitted to DOF. DOF has five (5) days after submittal to request a review and forty-five (45) days to review the Oversight Board Resolution if it decides to do so. Detailed information from the LRPMP regarding the Properties is attached for informational purposes only. Please note that the property ID #s in these detailed sheets correspond to the LRPMP and are not indicated in Attachment No. 1 to Exhibit A to Resolution SA 2016- 0 . Transfer of Properties for Affordable Housing Purposes June 28, 2016 Page 3 of 3 Attachments: Properties held for Future Development Maps and Data Sheets SA Resolution No. SA-2016-0 Exhibit A –Purchase and Sale Agreement 20 21 18 19 SPRINGPOTTERY Sources: City of Lake Elsinore, County of Riverside City of Lake Elsinore Aerial View RDA Owned Properties´0 0.0070.0035 Miles IDs 18 - 21 Map ID #18, #19, #20 & #21: Held For Development - RFP APN: #18: 374-062-005 #19: 374-062-006 #20: 374-062-015 #21: Address: 401 N. Spring St., Lake Elsinore Lot Size: #18: .17 acres #19: .17 acres #20: .51 acres #21: .51 acres Land Use/Zoning: Residential Mixed Use Acquisition Date (AD): #18: Grant Deed dated August 23, 1990 recorded September 1, 1990 #19, #20: Grant Deed dated August 23, 1990 recorded September 1, 1990 #21: 11/28/89 Acquisition Purpose: Unknown Purchase Price/Value @ AD: #18, #19, #20: combined purchase price $399,000 #21: $169,000 purchase price Est. Current Value: An appraisal dated May 10, 2014 by Harris Realty Appraisal valued all four (4) properties together at $300,000. Prior to conveyance, the Agency or the City will merge the parcels so they can be sold as a single parcel. Est. revenues & contract obligations re revenues: None Environmental Contamination History: Unknown Potential transit oriented development (TOD) and advancement of Successor Agency planning objectives: Parcels are located near the Pottery Court affordable housing project and may offer an opportunity for a compatible residential project. History Previous Development Proposals/Activity: Unknown. Proposed Use/Disposition: The properties should be conveyed to the City of Lake Elsinore and sold pursuant a carefully developed RFP to maximize the development potential and purposes in furtherance of the Dissolution Act and consistent with applicable land use regulations. Prior to conveyance, the parcels should be merged and sold for development as a single parcel. Notes: The Parcels should be merged into a single developable parcel to maximize the development potential. The Successor Agency will enter into a compensation agreement with the affected taxing entities prior to Oversight Board approval of the transfer of the property to the City for future development. Map ID #25 through #36: Held for Development - RFP APN: #25: 374-162-039 #26: 374-162-041 #27: 374-162-043 #28: 374-162-045 #29: 374-162-047 #30: 374-162-049 #31: 374-162-051 #32: 374-162-053 #33: 374-162-055 #34: 374-162-057 #35: 374-162-059 #36: 374-162-061 Address: N/A Lot Size: #25: .11 acres #26: .10 acres #27: .10 acres #28: .10 acres #29: .10 acres #30: .10 acres #31: .11 acres #32: .11 acres #33: .11 acres #34: .11 acres #35: .12 acres #36: .12 acres Land Use/Zoning: Commercial Mixed Use Acquisition Date (AD): July 1, 1982 Acquisition Purpose: These properties were all a part of separate larger parcels acquired for construction of the Outflow Channel drainage improvements parallel to Spring Street. After the public drainage improvements were completed, the remainder properties were assigned the current APNs. Purchase Price/Value @ AD: Aggregate value of all properties $150,000 Est. Current Value: Pursuant to an appraisal dated May 25, 2014, all twelve (12) properties together were appraised at $285,000. The Agency and/or City anticipate merging these parcels into a single developable parcel prior to sale. Est. revenues & contract obligations re revenues: None Environmental Contamination History: Unknown Potential transit oriented development (TOD) and advancement of Successor Agency planning objectives: Not appropriate for TOD. History Previous Development Proposals/Activity: The parcels are contiguous and are adjacent to the flood control channel. They are likely remnant parcels from the Flood Control Channel Project and may have associated development constraints. Proposed Use/Disposition: The parcels should be conveyed to the City for a land use study and feasibility analysis to determine the best potential for development consistent with the purposes of the Dissolution Act and the applicable land use regulations. The parcels should be held by the City for development pending the completion of such study and pursuant to a carefully developed RFP consistent with the Downtown Master Plan. Notes: Especially given the potential for development cons traints, these parcels should be merged into a single developable parcel to allow flexibility in siting future development. The Successor Agency will enter into a compensation agreement with the affected taxing entities prior to Oversight Board approval of the transfer of the property to the City for future development. OWNER:SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, a public body, corporate and politic APN(S):374-062-005; 374-062-006; 374-062-015; [374-062-020]; 374- 162-039; 374-162-041; 374-162-043; 374-162-045; 374-162-047; 374-162-049; 374-162-051; 374-162-053; 374-162-055; 374-162- 057; 374-162-059; 374-162-061 ESCROW/TITLE NO.:First American Title Insurance Company AGREEMENT AND ESCROW INSTRUCTIONS FOR PURCHASE AND SALE OF REAL PROPERTY THIS AGREEMENT AND ESCROW INSTRUCTIONS FOR PURCHASE AND SALE OF REAL PROPERTY (this “Agreement”), dated for identification purposes only as of , 2016, is made by and between the CITY OF LAKE ELSINORE, a California municipal corporation, in its capacity as the successor to the housing assets and functions of the former Redevelopment Agency of the City of Lake Elsinore under Health and Safety Code Section 34176(a)(1) (“Buyer”), on the one hand, and the SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, a public body, corporate and politic (collectively, the “Seller”), on the other hand. This Agreement is for acquisition by the Buyer of certain real property hereinafter set forth in Attachment No. 1 to Exhibit “A” and is made on the basis of the following facts, intentions and understandings. RECITALS A.Seller is the present owner of that certain unimproved real property located in the City of Lake Elsinore, California, generally described as Assessor’s Parcel Nos. 374-062-005; 374-062-006; 374-062-015; [374-062-020]; 374-162-039; 374-162-041; 374-162-043; 374-162- 045; 374-162-047; 374-162-049; 374-162-051; 374-162-053; 374-162-055; 374-162-057; 374- 162-059; 374-162-061 and more particularly described in Attachment No. 1 to Exhibit “A” (collectively, the “Property”). B.Seller is charged with implementing recognized enforceable obligations and winding down of the affairs of the former Redevelopment Agency of the City of Lake Elsinore (the “Agency”) in accordance with the California Health and Safety Code. C.California Health & Safety Code Sections 34177(e) and 34181(a) require Seller to dispose of all assets and properties of the former Agency expeditiously and in a manner aimed at maximizing value. D.Buyer has proposed to purchase the Property at the value identified in two appraisals dated , 2016, which Seller believes to be the highest and best value for the Property. @BCL@D805C556 2 E.Seller desires to convey fee simple absolute title in the Property to Buyer in accordance with the terms and conditions of this Agreement, and Buyer desires to acquire the Property in accordance with this Agreement. AGREEMENT NOW, THEREFORE,for good and valuable consideration, receipt of which is acknowledged, the parties agree as follows: ARTICLE I PURCHASE AND SALE; PURCHASE PRICE; AFFORDABLE HOUSING PURPOSE; USE OF PROCEEDS 1.1 Purchase and Sale. Buyer agrees to purchase the Property from Seller and Seller agrees to sell the Property to Buyer, on and subject to the conditions, covenants and terms contained in this Agreement. 1.2 Purchase Price. The purchase price shall be Seven Hundred Twenty Thousand Dollars ($720,000.00) (the “Purchase Price”). The Purchase Price of the Property is the fair market value of the Property, as determined by appraisals prepared by a third party, licensed appraiser. 1.3 Affordable Housing Purpose. Buyer desires to purchase the Property for affordable housing purposes. Buyer will utilize funds held in the Low and Moderate Income Housing Asset Fund created in accordance with Health and Safety Code Section 34176 (d) for payment of the Purchase Price. The Property shall be utilized by Buyer in accordance with the Community Redevelopment Law (Part 1(commencing with Section 33000)), as amended by Health and Safety Code Section 34176.1, and, in particular, for the development of affordable housing in accordance with Health and Safety Code Section 34176.1(a)((3)(A). 1.4 Use of Sale Proceeds by Seller. In accordance with California Health & Safety Code Sections 34177(e) and 34181(a), the net proceeds of the Purchase Price, after reduction for the costs of sale of the Property such as appraisal, title and escrow fees, shall be used to pay enforceable obligations on an approved Recognized Obligation Payment Schedule. Any excess shall be transferred to the Riverside County Auditor-Controller for distribution as property tax proceeds. ARTICLE II ESCROW 2.1 Open Escrow. Within five (5) days after the execution of this Agreement by both parties, Seller and Buyer shall open escrow (“Escrow”) with First American Title Insurance Company (the “Escrow/Title Company”) located at 43620 Ridge Park Drive, Suite 200, Temecula, CA 92590, Attention: Debra Fritz. 2.2 Close of Escrow. The “Close of Escrow” shall mean the time and day the Grant Deeds are filed for record with the Riverside County Recorder, which shall be on or before forty- @BCL@D805C556 3 five (45) days after the opening of Escrow (“Closing Date”). The Close of Escrow shall be in accordance with Article IV of this Agreement. 2.3 Escrow Instructions. This Agreement shall constitute joint primary escrow instructions to the Escrow/Title Company; provided, however, that the parties shall execute such additional instructions as requested by the Escrow/Title Company not inconsistent with the provisions hereof. In the event of any inconsistency between such escrow instructions and this Agreement, this Agreement shall control the rights and obligations of the parties. ARTICLE III CONDITIONS PRECEDENT The purchase and sale under this Agreement shall be subject to the satisfaction of the conditions precedent set forth in this Article III (unless waived in writing by the party to whom the benefit of such condition runs) on or before the Closing Date or such earlier date as is specified in this Agreement, each of which conditions shall be a covenant of the party required to perform such condition. 3.1 Conditions to Buyer’s Obligations and Due Diligence Period. A.Delivery of Title and Title Insurance. Seller shall convey title to the Property to Buyer at the Close of Escrow, subject only to Permitted Exceptions. The term “Permitted Exceptions” shall mean: (i) liens for real property taxes shown as exceptions in the Title Report provided that the taxes are not delinquent; (ii) the standard exclusions to coverage under Escrow/Title Company’s ALTA Extended Coverage Owner’s Policy of Title Insurance (“Title Policy”); and (iii) any other lien, encumbrance, title exception or defect that appears in the Title Report which Buyer has approved or which is caused by Buyer prior to the Close of Escrow. Notwithstanding the foregoing, in no event shall the following be considered Permitted Exceptions: deeds of trust or mortgages; judgments; mechanics' and materialmen's liens; tax liens; or liens, encumbrances or other title matters created by Seller after the date of this Agreement without the prior written consent of Buyer. Buyer agrees that Seller’s obligation to convey title to Buyer shall be deemed satisfied upon Escrow/Title Company’s willingness to issue the Title Policy subject only to the Permitted Exceptions. B.Delivery of Title Report. Within five (5) days following the opening of Escrow and at Buyer’s expense, Escrow/Title Company shall deliver to Buyer a preliminary title report for the Property (“Title Report”) together with copies of any exceptions referred to in Schedule B of the Title Report. C.Due Diligence Period. Buyer shall have thirty (30) days after the opening of Escrow (the “Due Diligence Period”) to review the exceptions, legal descriptions and other matters contained in the Title Report. Seller shall deliver to Buyer during the Due Diligence Period any other documents relating to the Property to the extent they are requested by Buyer and reasonably available to Seller. Buyer shall promptly provide to Seller a copy of all reports. If the Buyer reasonably determines within the Due Diligence Period that the condition of title or the condition of the Property is not satisfactory for any reason, Buyer may elect to terminate this @BCL@D805C556 4 Agreement by promptly notifying the Seller and Escrow/Title Company in writing of its decision to terminate. D.Representations and Warranties. Each of the representations and warranties by Seller contained in Section 8.1 was true and correct in all material respects as of the date made and continues to be true and correct in all material respects as of the Close of Escrow. E.Delivery of Close of Escrow Documents. Execution, delivery and acknowledgement as appropriate by Seller of the Close of Escrow documents set forth in Section 4.1B(i)and other necessary Close of Escrow documents as may be reasonably requested by Buyer or Escrow/Title Company. F.No Material Change. No material change in the status of the use, title, occupancy or physical condition of the Property, unless caused by Buyer or its agents, shall have occurred with respect to the Property prior to Close of Escrow that has not been approved in writing by Buyer, which approval can be withheld in Buyer’s sole discretion. Additionally, Seller shall (i) maintain its existing insurance policies in full force and effect; (ii) provide prompt written notice to Buyer of any casualty or condemnation affecting any portion of the Property after the date of this Agreement; (iii) deliver to Buyer, promptly after receipt by Seller, copies of all notices of violation issued by any governmental authority with respect to the Property received by Seller after the date of this Agreement; (iv) advise Buyer promptly of any litigation, arbitration or other judicial or administrative proceeding which concerns or affects the Property; and (v) comply in material respects with the requirements of all contracts, licenses, permits, approvals, guaranties and warranties. G.Seller Performance. Seller shall have performed each and every undertaking, covenant and agreement required to be performed by Seller under this Agreement prior to or at the Close of Escrow. 3.2 Conditions to Seller’s Obligations. A.Delivery of Purchase Price. Buyer shall have deposited the Purchase Price with Escrow/Title Company. B.Representations and Warranties. Each of the representations and warranties by Buyer contained in Section 8.2 below shall be determined to have been true and correct in all material respects as of the date made and shall continue to be true and correct in all material respects as of the Close of Escrow. C.Delivery of Close of Escrow Documents. Execution, delivery and acknowledgement as appropriate by Buyer of the Close of Escrow documents set forth in Section 4.1B(ii) and other necessary Close of Escrow documents as may be reasonably requested by Buyer with Escrow/Title Company. D.Buyer Performance. Buyer shall have performed each and every undertaking, covenant and agreement required to be performed by Buyer under this Agreement prior to or at the Close of Escrow. @BCL@D805C556 5 3.3 Failure of Conditions. The failure of Seller or Buyer to satisfy any of the conditions precedent contained in this Article III within the times specified in this Agreement shall constitute a default hereunder and unless such conditions are waived or the time for satisfaction extended by the party to whose benefit the conditions run, the party to whose benefit the conditions run shall have the right to terminate this Agreement by delivering written notice to the other party and Escrow/Title Company. ARTICLE IV CLOSE OF ESCROW 4.1 Close of Escrow. The purchase and sale of the Property shall be consummated on or prior to the Closing Date in accordance with the following: A.Time. When Escrow/Title Company is in a position to issue the Title Policy and all required documents and funds have been deposited with Escrow/Title Company, and Buyer and Seller have advised the Escrow/Title Company in writing that the Conditions of Close of Escrow set forth herein have been satisfied or waived, Escrow/Title Company shall immediately close Escrow as provided below. B.Close of Escrow Documents. (i)Seller. No later than the day prior to the Closing Date, Seller shall duly execute and acknowledge as appropriate and deliver to Escrow/Title Company the following: (a)One or more grant deeds (“Deeds”) conveying the Property to Buyer in substantially the form attached to this Agreement as Exhibit A; (b)A Non-foreign Entity Affidavit (“Affidavit”), in the form attached to this Agreement as Exhibit B, pursuant to Section 10.2; and (c)Such documents and instruments as Escrow/Title Company may reasonably require to evidence the due authorization and execution of the documents and instruments to be delivered by Seller under this Agreement and to issue the Title Policies. The obligations of Seller to deliver documents and instruments into Escrow in accordance with this Section 4.1B(i)are separate, independent covenants of Seller and shall not be conditioned upon Buyer’s deliveries in accordance with Section 4.1B(ii). (ii)Buyer. No later than the day prior to the Closing Date, Buyer shall duly execute and acknowledge as appropriate and deliver to the Escrow/Title Company the following: (a)The amount of the Purchase Price, less the Deposit, if any; (b)A Change of Ownership Statement, as required by Escrow/Title Company or Escrow/Title Company; @BCL@D805C556 6 (c)Such documents and instruments as Escrow/Title Company may reasonably require to evidence the due authorization and execution of the documents and instruments to be delivered by Buyer under this Agreement and to issue the Title Policy. The obligations of Buyer to deliver funds, documents and instruments into Escrow under this Section 4.1B(ii) shall be separate, independent covenants of Buyer and shall not be conditioned upon Seller’s deliveries in accordance with Section 4.1B(i). C.Close of Escrow Procedure. At such time as the Escrow/Title Company has received all of the items specified in Section 4.1B, and at such time as Escrow/Title Company is prepared to issue the Title Policy in accordance with Section 3.1B, Buyer and Seller hereby authorize and instruct Escrow/Title Company to: (i) cause Escrow/Title Company to record the Deeds, and issue the Title Policies to Buyer; (ii) pay any applicable recordation fees and transfer taxes; (iii) compute pro-rations relating to the Property for the accounts of Seller and Buyer; (vi) pay to Seller an amount equal to the Purchase Price, less any pro-rations chargeable to Seller and any amounts payable by Seller to Escrow/Title Company for its services and expenditures in connection with this Agreement; (iv) pay to Buyer the balance of the funds then held by Escrow/Title Company, less any pro-rations chargeable to Buyer and any amounts payable by Buyer to Escrow/Title Company for its services and expenditures in connection with this Agreement; and (vii) deliver to Buyer and Seller a conformed copy of the Deeds showing the recording information. 4.2 Fees; Expenses; Prorations. A.Fees, Expenses, Transfer Taxes. (i)Seller. Seller shall pay or satisfy, as applicable: (a) all documentary transfer taxes imposed in connection with the recording of the Deed; (b) Escrow fees; (c) the cost of the Title Policy for Buyer in the amount of the Purchase Price; (d) the reasonable expenses previously incurred by Seller for purposes of obtaining an appraisal or similar market comparison analysis; (c) the cost of recording the Deed and all other documents recorded at the Close of Escrow; and (d) any other customary fees and charges and expenditures authorized by Buyer; and (e) any other customary fees and charges and expenditures authorized by Seller. (ii)Buyer. Buyer shall have the right to procure an ALTA Extended Coverage Owner’s Policy of Title Insurance (“ALTA Policy”) and Buyer shall pay for the increased cost of such ALTA Policy above the cost of the Title Policy, the cost of any survey that the Escrow/Title Company requires for issuance of an ALTA Policy and for the cost of any other increase in the amount or scope of title insurance if Buyer elects to increase the amount or scope of title insurance coverage or to obtain endorsements to the Title Policy or ALTA Policy. All other costs, if any, shall be apportioned between Buyer and Seller in the customary manner for real estate transactions in the County of Riverside, State of California. B.Real Property Taxes and Assessments. All real property taxes and assessments for the fiscal years of the taxing and assessing authorities in which the Close of Escrow occurs shall be prorated on the basis of a three hundred sixty-five (365) day year at the @BCL@D805C556 7 Close of Escrow with appropriate debits and credits to the accounts of Buyer and Seller so that Seller shall be responsible for paying all of the same, to the extent duly allocable to the period ending on the day immediately prior to the Closing Date and Buyer shall be responsible for paying all of the same (if any shall be due), to the extent duly allocable to the period commencing upon the Closing Date. C.Commissions. Buyer and Seller represent and warrant to each other that no person or entity may claim or is entitled to a real estate commission, finder’s fees or any similar payments with respect to this Agreement or the sale of the Property. Buyer and Seller shall each protect, defend, indemnify and hold the other harmless from and against all such claims for real estate commissions, finder’s fees or any similar payments with respect to the sale of the Property in accordance with this Agreement. ARTICLE V BREACH 5.1 General. If either party breaches its obligations under this Agreement prior to the Close of Escrow, then the other party may, without terminating this Agreement, suspend performance by giving written notice to the other party until such breach is cured by the other party. Except for Seller’s and Buyer’s respective delivery obligations under Article IV, including, without limitation, Buyer’s delivery to the Escrow/Title Company of the Purchase Price, neither party shall be in default under this Agreement unless it fails to cure a breach of such party’s obligations under this Agreement within twenty-four (24) hours after receipt of written notice of such breach from the non-breaching party. Nothing contained in this Agreement is intended nor shall permit any party in default to terminate this Agreement or the Escrow provided for in this Agreement as a result of such default. 5.2 Termination. If either party breaches any of its obligations under this Agreement prior to the Close of Escrow and fails to cure such breach within twenty-four (24) hours after receipt of written notice from the other party, then the non-defaulting party may terminate this Agreement by written notice to the defaulting party and to the Escrow/Title Company. Termination of this Agreement shall be without prejudice as to whatever legal rights the party may have against the other arising out of this Agreement. If neither party has fully complied with the provisions of Escrow and notice has not been delivered pursuant to Section 5.1, then Escrow/Title Company shall proceed with the Close of Escrow as soon as possible. ARTICLE VI CONDITION OF PROPERTY 6.1 “As Is” Condition. The Property is purchased and sold in “AS IS” condition. Buyer, as specified in Section 3.1C, has or shall have inspected and conducted tests, inspections, investigations and studies of the Property as Buyer, in Buyer’s discretion, deems necessary. Buyer represents that it is acting and will act only upon information obtained by it from its own inspection and investigation of the Property and upon the express representations of Seller contained in this Agreement. @BCL@D805C556 8 ARTICLE VII REPRESENTATIONS AND WARRANTIES 7.1 Seller’s Representations and Warranties. In consideration of Buyer’s entering into this Agreement and as an inducement to Buyer to purchase the Property, Seller makes the following covenants, representations and warranties, each of which is material and is being relied upon by Buyer (and the continued truth and accuracy of which shall constitute a condition precedent to Buyer’s obligations hereunder): A.Authority. Seller has the full power and authority to sell the Property, and this Agreement has been duly and validly authorized, executed and delivered by Seller and no other authorization or third party consent is requisite to the valid and binding execution, delivery and performance of this Agreement by Seller. B.Encumbrances. Seller is the owner of the fee interest in the Property free and clear of all liens, encumbrances and other matters other than those set forth in the Title Policy and the Property is not subject to any outstanding contract of sale, right of first refusal or purchase option, in favor of any person or entity, except Buyer. Seller will not sell, lease, sublease, assign, mortgage or otherwise encumber the Property without Buyer’s prior written approval, which may be withheld in Buyer’s sole discretion. C.Representations. All representations and warranties of Seller set forth in this Agreement shall be true on and as of the Close of Escrow as if those representations and warranties were made on and as of such time. D.Legal Power. The individuals executing this Agreement and the instruments referenced herein on behalf of Seller, have the legal power, right and actual authority to bind Seller to the terms and conditions hereof and thereof. E.No Breach. There are no contracts or agreements relating to the leasing, operation and maintenance of the Property which will be effective as to the Property following the Close of Escrow. There are no agreements, rights or agreements under which any third person or party has any right or option to purchase the Property. This Agreement and all documents required hereby to be executed by Seller are and shall be valid, legally binding obligations of and enforceable against Seller in accordance with their terms, subject only to the applicable bankruptcy, insolvency, reorganization, moratorium laws or similar laws or equitable principles effecting or limiting the rights of contracting parties generally. To Seller’s knowledge, neither the execution and delivery of this Agreement and the documents referenced herein, nor the incurrence of the obligations set forth herein, nor the consummation of the transactions herein contemplated, nor compliance with the terms of this Agreement and the documents reference herein, result in the breach of any terms, conditions or provisions of, or constitute a default under, any bond, note, or other evidence of indebtedness or any contract, indenture, mortgage, deed of trust, loan, partnership agreement, lease, or other agreements or instruments to which Seller is a party or effecting the Property. @BCL@D805C556 9 F.Litigation. There are no suits, claims, foreclosure proceedings, property tax protests, zoning or other administrative proceedings that are pending or, to the best of Seller’s knowledge, threatened with respect to or in any manner affecting the Property. G.Condemnation; Eminent Domain. Seller has neither received any written notice from a governmental authority, nor has any knowledge of any action regarding eminent domain proceedings for the condemnation of all or any portion of the Property. To Seller’s knowledge, Seller has not received any written notices of violations, including, without limitation, any environmental law violations, that still exist from any municipal or governmental bodies regarding the Property. H.Due Diligence. Seller has delivered to Buyer complete legible copies of all the material documents pursuant to Section 3.1C. concerning the Property in Seller’s possession or under its control. I.Environmental Laws. To Seller’s knowledge, Seller has not received written notice from any governmental authority that the Property or the use or operation thereof are in violation of any Environmental Laws, and to Seller’s knowledge, no such written notice has been issued and, to Seller’s knowledge, no violation of any Environmental Laws has occurred. To Seller’s knowledge, no part of the Property has ever been used by any person or entity to refine, produce, use, store, handle, transfer, process, transport or dispose of any Hazardous Substances. 7.2 Buyer’s Representations, Warranties and Covenants. In consideration of Seller entering into this Agreement and as an inducement to Seller to sell the Property to Buyer, Buyer makes the following representations, warranties and covenants, each of which is material and is being relied upon by Seller (the continued truth and accuracy of which shall constitute a condition precedent to Seller’s obligations hereunder): A.Authority. Buyer has the full power and authority to buy the Property, and this Agreement has been duly and validly authorized, executed and delivered by Buyer and no other authorization or third party consent is requisite to the valid and binding execution, delivery and performance of this Agreement by Buyer. B.Representations. All representations and warranties of Buyer set forth in this Agreement shall be true on and as of the Close of Escrow as if those representations and warranties were made on and as of such time. ARTICLE VIII CONDEMNATION, DAMAGE AND DESTRUCTION 8.1 Condemnation. If, between the date of this Agreement and the Closing Date, condemnation or eminent domain proceedings affecting any portions of the Property are initiated or are threatened to be initiated by any entity other than Buyer, then, Buyer shall have the right to either: (i) affirm this Agreement, which shall remain in full force and effect without any diminution of the Purchase Price and Seller shall assign to Buyer upon the Closing Date all of Seller’s rights to any condemnation awards by depositing an assignment of said award with the Escrow/Title Company; or (ii) subject to and conditioned on Buyer’s compliance with the @BCL@D805C556 10 remaining provisions of this Section 8.1, terminate this Agreement and neither party shall have any further obligations or liabilities to each other, except that Buyer’s indemnity obligations under this Agreement shall survive any such termination. Buyer shall not propose, institute, cooperate with or permit any condemnation of all or any part of the Property prior to the Close of Escrow. 8.2 Damage and Destruction. If, between the date of this Agreement and the Closing Date, any portion of the Property is materially damaged or destroyed, then Buyer shall have the option by written notice to Seller to: (i) terminate this Agreement and Buyer shall have no obligation to purchase the Property and Seller shall have no obligation to sell the Property to or (ii) affirm this Agreement, which shall remain in full force and effect without delaying the Close of Escrow and without diminution of the Purchase Price. ARTICLE IX MISCELLANEOUS 9.1 No Foreign Investors. Seller warrants and represents to Buyer that Seller is not a foreign individual, foreign corporation, foreign partnership, foreign trust, or foreign estate (as those terms are defined in the Internal Revenue Code and Income Tax Regulations). Seller shall execute and deliver to Buyer at the Close of Escrow the Affidavit certifying the representations and warranties made pursuant to this Section. 9.2 Attorneys’ Fees. If any action, proceeding or arbitration is brought to interpret or enforce the terms of this Agreement, the prevailing party shall be entitled to recover from the other party, in addition to all other damages, all costs and expenses of such action, proceeding or arbitration, including but not limited to actual attorneys’ fees (including the allocated costs of in- house counsel), witness fees’ and court costs. The phrase “prevailing party” as used in this Section shall mean the party who receives substantially the relief desired whether by dismissal, summary judgment or otherwise. The terms of this Section shall survive the Close of Escrow and shall not be merged with the Deed. 9.3 Notices. All notices and requests under this Agreement shall be in writing and shall be sent by personal delivery, facsimile or e-mail (with hard copy to follow the next business day by overnight mail), by nationally recognized overnight mail carrier such as FedEx or delivered in person to the following street addresses: SELLER:Successor Agency to the Redevelopment Agency of the City of Lake Elsinore 130 S. Main Street Lake Elsinore, CA 92530 Attn: Grant Yates, City Manager Telephone: (951) 674-3124 ext. 361 Facsimile: (951) 674-2392 E-Mail: gyates@Lake-Elsinore.org @BCL@D805C556 11 With a copy to:Leibold McClendon & Mann PC 9841 Irvine Center Drive, Suite 230 Irvine, CA 92618 Attention: Barbara Leibold Telephone: (949) 585-6300 ext. 101 Facsimile: (949) 585-6305 E-Mail: barbara@ceqa.com BUYER:City of Lake Elsinore 130 S. Main Street Lake Elsinore, CA 92530 Attn: Grant Yates, City Manager Telephone: (951) 674-3124 ext. 361 Facsimile: (951) 674-2392 E-Mail: gyates@Lake-Elsinore.org With a copy to:Leibold McClendon & Mann PC 9841 Irvine Center Drive, Suite 230 Irvine, CA 92618 Attention: Barbara Leibold Telephone: (949) 585-6300 ext. 101 Facsimile: (949) 585-6305 E-Mail: barbara@ceqa.com Escrow/Title Company:First American Title Insurance Company 43620 Ridge Park Drive, Suite 200 Temecula, CA 92590 Attention: Debra Fritz Telephone: (951) 296-2948 E-Mail: dfritz@firstam.com All notices shall be effective upon the earlier of personal delivery or receipt of a facsimile confirmation statement, if sent by facsimile, or receipt of confirmation of delivery, if delivered by e-mail or a nationally recognized overnight mail carrier. Either party may change its address or designate a new street address for notices under this Agreement by notice complying with the terms of this Section. 9.4 Cooperation. Buyer and Seller shall reasonably cooperate with the other in connection with the requirements imposed by this Agreement and agree to cooperate with each other by executing such other documents or taking such other action as may be reasonably necessary in accordance with the intent of the parties as evidenced by this Agreement, provided such documents do not create any additional liability or expense for such party not contemplated by this Agreement. 9.5 Survival. Buyer’s and Seller’s representations, warranties and obligations under this Agreement shall survive the Close of Escrow and shall not be merged into or defeated by the execution, delivery or recordation of the Deed given in connection with this Agreement. @BCL@D805C556 12 9.6 Interpretation. This Agreement shall be construed and enforced in accordance with the laws of the State of California as applicable to contracts entered into in California among parties doing business therein. This Agreement contains the entire agreement between the parties respecting the purchase and sale of the Property and supersedes all prior negotiations, discussions, understandings and agreements, both oral and written, between the parties with respect to such matters. This Agreement shall not be effective between the parties until the date this Agreement is executed and delivered into Escrow by both Seller and Buyer. This Agreement may not be modified or amended in any way except by a writing executed by both Buyer and Seller. The section headings of this Agreement are for convenience only and are not to be construed as part of this Agreement and do not in any way amplify or define the terms, conditions, and covenants of this Agreement and shall not be used in construction or interpretation of this Agreement. There are no third-party beneficiaries to this Agreement. Unless the context otherwise indicates, whenever used in this Agreement, the word “party” or “parties” means Buyer or Seller or both, as the context may require. Time is of the essence in the performance of each term of this Agreement. 9.7 Successors and Assigns. This Agreement shall be binding upon and inure to the benefits of the successors and assigns of the parties to this Agreement. In no event shall Buyer have any right to delay or postpone the Close of Escrow to create a partnership, corporation or other form of business association or to obtain financing to acquire title to the Property or to coordinate with any other sale, transfer, exchange or conveyance. 9.8 Severability. If any term or provision of this Agreement is determined to be invalid or unenforceable, the remaining terms and provisions shall not be affected thereby and shall remain in full force and effect to the maximum extent permitted by law. 9.9 Dates. Whenever any determination is to be made or action is to be taken on a date specified in this Agreement, if such date shall fall on Saturday, Sunday or legal holiday under the laws of the State of California, then in such event said date shall be extended to the next day which is not a Saturday, Sunday or legal holiday. 9.10 Counterparts; Telefacsimile Execution. This Agreement may be executed in counterparts, all of which shall constitute the same Agreement, notwithstanding that all parties to this Agreement are not signatory to the same or original counterpart. 9.11 No Assumption of Seller's Liabilities. Buyer is acquiring only the Property from Seller and is not the successor of Seller. Except only for the obligations accruing after the Closing Date or assumed in writing by Buyer, Buyer does not assume or agree to pay, or indemnify Seller or any person or entity against any liability, obligation or expense of Seller or relating to the Property. 9.12 Limitation of Liability. No advisor, trustee, director, officer, partner, member, employee, beneficiary, shareholder, participant or agent of or in Seller or Buyer shall have any personal liability, directly or indirectly, under or in connection with this Agreement or any agreement made or entered into under or pursuant to the provisions of this Agreement, or any amendment or amendments to any of the foregoing made at any time or times, heretofore or hereafter. The terms of this Section survive the Close of Escrow or termination of this Agreement. @BCL@D805C556 13 9.13 Indemnification; Limitation on Liability. Seller hereby agrees to indemnify, defend and hold Buyer harmless from and against any claims, damages, demands, liabilities, losses, judgments, expenses and attorneys’ fees and/or costs resulting from any material breach of this Agreement by Seller, including, without limitation, the falsity of any representation or warranty made by Seller contained in this Agreement. Neither Buyer nor Seller shall in any event be entitled to, and each hereby waives, any right to seek consequential damages of any kind or nature from the other party arising out of or in connection with this Agreement. 9.14 Tax and legal advice. Seller represents and warrants that the buyer has not provided tax or legal advice to seller in connection with this agreement. Seller further represents and warrants that they have been advised of their right to legal counsel and tax advice and have either obtained the advice of independent legal counsel or a tax advisor with respect to the terms of this agreement and all attachments hereto and other agreements required hereby, or have knowingly and voluntarily decided not to consult with legal counsel or a tax advisor of his/her choosing. 9.15 Time of Essence. Time is expressly made of the essence with respect to the performance by Buyer and Seller of each and every obligation and condition of this Agreement including, without limitation, the Close of Escrow. 9.16 Exhibits Incorporated by Reference. All exhibits attached to this Agreement are incorporated in this Agreement by this reference. This Agreement is executed in three (3) duplicate originals, each of which is deemed to be an original. This Agreement includes thirteen (13) pages, a signature page (Page 14) and three (3) exhibits including Exhibit “A”, form of Grant Deed, Exhibit “B”, Seller’s form of Certification of Non-Foreign Status, and Exhibit “C”, copies of appraisals prepared for the Property. [Signatures on next page] @BCL@D805C556 14 IN WITNESS WHEREOF,the Buyer and the Seller have signed this Agreement and Escrow Instructions for Purchase and Sale of Real Property on the date set forth below. “SELLER” SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, a public body, corporate and politic Dated:By: Its:_____________________________ “BUYER” CITY OF LAKE ELSINORE, a California municipal corporation, in its capacity as successor to the housing assets and functions of the former Redevelopment Agency of the City of Lake Elsinore under Health and Safety Code Section 34176(a)(1) Dated:By: Brian Tisdale, Mayor APPROVED AS TO FORM: LEIBOLDMCCLENDON &MANN,P.C. By: _________________________________ Barbara Leibold, City Attorney [signatures continued on next page] @BCL@D805C556 15 ESCROW/TITLE COMPANY’S CONSENT: Escrow/Title Company hereby acknowledges receipt of this Agreement and consents to the terms and conditions set forth herein. “ESCROW/TITLE COMPANY” By: _________________________________ Name: ____________________________ Its:____________________________ Dated: ____________________________ @BCL@D805C556 Exhibit “A” EXHIBIT “A” GRANT DEED WHEN RECORDED MAIL AND MAIL TAX STATEMENTS TO: CITY OF LAKE ELSINORE 130 So. Main Street Lake Elsinore, CA 92530 DOCUMENTARY TRANSFER TAX $ NONE FREE RECORDING REQUESTED PURSUANT TO GOV’T CODE SECTION 27383 GRANT DEED FOR VALUABLE CONSIDERATION, receipt of which is hereby acknowledged, the SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, a public body, corporate and politic (“Seller”), hereby GRANT(S) to the CITY OF LAKE ELSINORE, a California municipal corporation (“Buyer”), the real property referred to as APN No. 374-062-005; 374-062-006; 374-062-015; [374-062-020]; 374-162-039; 374-162-041; 374-162-043; 374-162-045; 374-162-047; 374-162-049; 374-162-051; 374-162- 053; 374-162-055; 374-162-057; 374-162-059; 374-162-061 and described as: SEE ATTACHMENT NO. 1 TO EXHIBIT “A” ATTACHED HERETO AND INCORPORATED HEREIN BY REFERENCE “SELLER” SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, a public body, corporate and politic Dated:By: Its:___________________________________ @BCL@D805C556 Attachment No. 1 to Exhibit A 1 ATTACHMENT NO. 1 TO EXHIBIT “A” LEGAL DESCRIPTION The land referred to herein is situated in the State of California, County of Riverside, City of Lake Elsinore, described as follows: Property Identification The subject property is a 1.37+ net acre parcel (59,534+ square feet, according to the assessor’s map) of residential zoned land identified as Riverside County Assessor’s Parcel Number 374- 062-005, 006, 015 and 020 and located at 401 N. Spring Street in the City of Lake Elsinore. The site is vacant land. The proposed acquisition is for the entire site (total taking). Legal Description and Ownership APN 374-062-005, 006, 015 and 020 is under the ownership of the Redevelopment Agency of the City of Lake Elsinore. The legal description (from the Grant Deed) is: Parcel 1: Lots 2, 4, 6, 8 and 10 in Block 82 of Heald’s Resubdivision of Blocks 51 and 54 to 86 inclusive of Elsinore as shown by map on file in Book 8 page 378 of maps, San Diego County Records. EXCEPTING therefrom the following described property: Beginning at the Southwest corner of Lot 2, Block 82 as said lot and block are shown on Heald’s Resubdivision of Blocks 51 and 54 thru 86 inclusive of Elsinore as shown by map on said resubdivision on file in Book 8 page 378 of maps, San Diego County Records: THENCE Easterly along the Southerly line of said Lot 2 and along the Northerly line of Pottery Street, as shown on said maps, a distance of 110 feet; THENCE Northerly to a point in the Southerly line of Lot 12 of Block 82 as shown on said map, said point being distant 80 feet Easterly, as measured along the Southerly line of said Lot 12 from the Easterly line of Riley Street, as shown on said map; THENCE continuing Northerly to the Northwest corner of Lot 24 as shown on said map; THENCE Southerly along the Easterly line of said Riley Street to the point of beginning. Parcel 2: Lot 7 in Block 82 of Heald’s resubdivision of Blocks 51 and 54 to 86 inclusive of Elsinore as shown by map on file in Book 8 page 378 of maps, San Diego County Records. EXCEPTING therefrom that portion as described in the deed to the Elsinore, Pomona and Los Angeles Railway Company, recorded April 11, 1896 in Book 48 page 148 of deeds, Riverside County Records. @BCL@D805C556 Attachment No. 1 to Exhibit A 2 Parcel 3: Lot 9 in Block 82 of Heald’s resubdivision of Block 51 and 54 to 86 inclusive of Elsinore as shown by map on file in Book 8 page 378 of maps, San Diego County Records. EXCEPTING therefrom that portion as described in the deed to the Elsinore, Pomona and Los Angeles Railway Company, recorded February 27, 1896 in Book 32 page 371 of deeds, Riverside County Records. Parcel 4: Lots 1, 3, and 5 in Block 82 of the Townsite of Elsinore, as per map of Heald’s Resubdivision of said Block 82 in the City of Elsinore, County of Riverside, State of California, as per map recorded in Book 8 page 378 of maps, in the office of the county recorder of San Diego County. EXCEPT that portion included in the right of way of the Elsinore, Pomona and Los Angeles Railroad Company, as per deed recorded in Book 50 page 235 of deeds, records of Riverside County, California. ALSO EXCEPTING from Lot 1 the Southerly 10 feet as granted to the City of Lake Elsinore by deed recorded February 28, 1985 as Instrument No. 412321. Excepting therefrom all oil, gas and other hydrocarbons, geothermal resources as defined in Section 6903 of the California Public Resources Code and all other mineral, whether similar to those herein specified or not, within or that may be produced from said real property; provided however, that all rights and interest in the surface of said real property are hereby conveyed to grantee, no right or interest of any kind to use the surface, expressed or implied, being excepted or reserved to grantor; and will damage the surface of said real property or any structures thereon, and shall not conduct any drilling or other operations of any kind in the first five hundred (500) feet below the surface of said real property. And further excepting the sole and exclusive right from time to time to drill and maintain wells or other works into or through said real property and the adjoining streets, roads, and highways below a depth of five hundred (500) feet and to produce, inject, store and remove from and through such wells or works, oil, gas, water and other substances of whatever nature, including the right to perform below said depth any and all operations deemed by grantor necessary or convenient for the exercise of such rights as reserved in deed recorded September 28, 1976 as Instrument No. 144761, Official Records. Also Excepting therefrom all water rights incident and appurtenant as conveyed to the City of Lake Elsinore by deed recorded February 28, 1985. Property Identification The subject property is a 1.30+ net acre parcel (56,630± square feet, according to the assessor’s map) of commercial mixed use zoned land identified as Riverside County Assessor’s Parcel Number 374-162-039, 041, 043, 045, 047, 049, 051, 053, 055, 057, 059 and 061 and located at 135 Sumner Avenue in the City of Lake Elsinore. The site is vacant land. The proposed acquisition is for the entire site (total taking). @BCL@D805C556 Attachment No. 1 to Exhibit A 3 Legal Description and Ownership APN 374-162-039, 041, 043, 045, 047, 049, 051, 053, 055, 057, 059 and 061 is under the ownership of the Redevelopment Agency of the City of Lake Elsinore. The legal description (from the Assessor’s Office) is: Portion of Lots 1, 3, 5, 7, 9, 11, 13, 15, 17, 19, 21 and 23, Block 51 of Heald’s resubdivision of blocks 51 and 54-86 of Elsinore as shown by map on file in Book 8 page 378 of maps, San Diego County Records. @BCL@D805C556 STATE OF CALIFORNIA ) ) § County of ) On , before me, a Notary Public, personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct WITNESS my hand and official seal. ________________________________ Signature of Notary (Affix seal here) A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. @BCL@D805C556 STATE OF CALIFORNIA ) ) § County of ) On , before me, a Notary Public, personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct WITNESS my hand and official seal. ________________________________ Signature of Notary (Affix seal here) A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. @BCL@D805C556 STATE OF CALIFORNIA ) ) § County of ) On , before me, a Notary Public, personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct WITNESS my hand and official seal. ________________________________ Signature of Notary (Affix seal here) A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. @BCL@D805C556 Attachment No. 2 to Exhibit A ATTACHMENT NO. 2 to EXHIBIT “A” CERTIFICATE OF ACCEPTANCE Government Code, Section 27281 THIS IS TO CERTIFY that the CITY OF LAKE ELSINORE, a California municipal corporation, acting through the Lake Elsinore City Council, hereby accepts for public purposes the real property, or interest therein, conveyed by Grant Deed executed by the SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, a public body, corporate and politic and dated , 2016 and consents to the recordation thereof. IN WITNESS WHEREOF, I have hereunto set my hands and affixed the City’s official seal, this ____ day of ___________________, ______. CITY OF LAKE ELSINORE, a municipal corporation By: ___________________________________ ___________________________________ @BCL@D805C556 STATE OF CALIFORNIA ) ) § County of ) On , before me, a Notary Public, personally appeared who proved to me on the basis of satisfactory evidence to be the person(s) whose name(s) is/are subscribed to the within instrument and acknowledged to me that he/she/they executed the same in his/her/their authorized capacity(ies), and that by his/her/their signature(s) on the instrument the person(s), or the entity upon behalf of which the person(s) acted, executed the instrument. I certify under PENALTY OF PERJURY under the laws of the State of California that the foregoing paragraph is true and correct WITNESS my hand and official seal. ________________________________ Signature of Notary (Affix seal here) A notary public or other officer completing this certificate verifies only the identity of the individual who signed the document to which this certificate is attached, and not the truthfulness, accuracy, or validity of that document. @BCL@D805C556 Exhibit “B” EXHIBIT “B” SELLER’S CERTIFICATION OF NON-FOREIGN STATUS FIRST AMERICAN TRUST To inform the CITY OF LAKE ELSINORE, a California municipal corporation (“Transferee”) that withholding of tax under Section 1445 of the Internal Revenue Code of 1986, as amended (“Code”) will not be required upon the transfer of certain real property described as Assessor’s Parcel Nos. 374-062-005; 374-062-006; 374-062-015; [374-062-020]; 374-162-039; 374-162-041; 374-162-043; 374-162-045; 374-162-047; 374-162-049; 374-162-051; 374-162- 053; 374-162-055; 374-162-057; 374-162-059; 374-162-061 located in the City of Lake Elsinore, California to the Transferee by the SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, a public body, corporate and politic (“Transferor”), the undersigned hereby certifies the following: 1.I/we am/are not a nonresident alien for purposes of United States income taxation; 2.My/our United States taxpayer identifying number (Social Security Number) is __________________ 3.My/our address is ____________________________________ ____________________________________ ____________________________________ Transferor understands that this Certification may be disclosed to the Internal Revenue Service by the Transferee and that any false statement contained herein could be punished by fine, imprisonment, or both. Under penalty of perjury, I/we declare that I/we have examined this Certification and to the best of my/our knowledge and belief it is true, correct, and complete, and we further declare that I/we have authority to sign this document on behalf of the Transferor. “TRANSFEROR” SUCCESSOR AGENCY TO THE REDEVELOPMENT AGENCY OF THE CITY OF LAKE ELSINORE, a public body, corporate and politic Dated:By: Its:___________________________________ @BCL@D805C556 Exhibit “C”