Meeting Agenda

MEETING AGENDA

Budget and Implementation Committee

Time: 9:30 a.m. Date: November 26, 2018 Location: BOARD ROOM County of Riverside Administration Center 4080 Lemon St, First Floor, Riverside CA 92501

COMMITTEE MEMBERS

Rusty Bailey, Chair/ Andy Melendrez, City of Riverside Dana Reed / To Be Appointed, City of Indian Wells Linda Krupa, Vice Chair / Russ Brown, City of Hemet Bob Magee / Natasha Johnson, City of Lake Elsinore Lloyd White / Nancy Carroll, City of Beaumont Rick Gibbs / Jonathan Ingram, City of Murrieta Jim Hyatt / Linda Molina, City of Calimesa Jan Harnik / Kathleen Kelly, City of Palm Desert Randall Bonner / Vicki Warren, City of Canyon Lake Michael Naggar / Matt Rahn, City of Temecula Greg Pettis / Shelley Kaplan, City of Cathedral City John F. Tavaglione, County of Riverside, District II Steven Hernandez / To Be Appointed, City of Coachella Chuck Washington, County of Riverside, District III Scott Matas / Russell Betts, City of Desert Hot Springs

STAFF Anne Mayer, Executive Director Theresia Trevino, Chief Financial Officer

AREAS OF RESPONSIBILITY

Annual Budget Development and Oversight Competitive Federal and State Grant Programs Countywide Communications and Outreach Programs Countywide Strategic Plan Legislation Public Communications and Outreach Programs Short Range Transit Plans

Comments are welcomed by the Co mmissio n. If yo u wish to p rovide c o mme nts to the Co mmissio n, please c omplete and submit a Speaker Card to the Cle rk o f the Boa rd. RIVERSIDE COUNTY TRANSPORTATION COMMISSION BUDGET AND IMPLEMENTATION COMMITTEE www.rctc.org

AGENDA* *Actions may be taken on any item listed on the agenda 9:30 a.m. Monday, November 26, 2018

BOARD ROOM County of Riverside Administrative Center 4080 Lemon Street, First Floor Riverside, California

In compliance with the Brown Act and Government Code Section 54957.5, agenda materials distributed 72 hours prior to the meeting, which are public records relating to open session agenda items, will be available for inspection by members of the public prior to the meeting at the Commission office, 4080 Lemon Street, Third Floor, Riverside, CA, and on the Commission’s website, www.rctc.org.

In compliance with the Americans with Disabilities Act, Government Code Section 54954.2, and the Federal Transit Administration Title VI, please contact the Clerk of the Board at (951) 787-7141 if special assistance is needed to participate in a Commission meeting, including accessibility and translation services. Assistance is provided free of charge. Notification of at least 48 hours prior to the meeting time will assist staff in assuring reasonable arrangements can be made to provide assistance at the meeting.

1. CALL TO ORDER

2. ROLL CALL

3. PLEDGE OF ALLEGIANCE

4. PUBLIC COMMENTS – Each individual speaker is limited to speak three (3) continuous minutes or less. The Committee may, either at the direction of the Chair or by majority vote of the Committee, waive this three minute time limitation. Depending on the number of items on the Agenda and the number of speakers, the Chair may, at his/her discretion, reduce the time of each speaker to two (2) continuous minutes. Also, the Committee may terminate public comments if such comments become repetitious. In addition, the maximum time for public comment for any individual item or topic is thirty (30) minutes. Speakers may not yield their time to others without the consent of the Chair. Any written documents to be distributed or presented to the Committee shall be submitted to the Clerk of the Board. This policy applies to Public Comments and comments on Agenda Items.

Under the Brown Act, the Board should not take action on or discuss matters raised during public comment portion of the agenda which are not listed on the agenda. Board members may refer such matters to staff for factual information or to be placed on the subsequent agenda for consideration. Budget and Implementation Committee November 26, 2018 Page 2

5. APPROVAL OF MINUTES – AUGUST 27, 2018

6. ADDITIONS/REVISIONS (The Committee may add an item to the Agenda after making a finding that there is a need to take immediate action on the item and that the item came to the attention of the Committee subsequent to the posting of the agenda. An action adding an item to the agenda requires 2/3 vote of the Committee. If there are less than 2/3 of the Committee members present, adding an item to the agenda requires a unanimous vote. Added items will be placed for discussion at the end of the agenda.)

7. CONSENT CALENDAR - All matters on the Consent Calendar will be approved in a single motion unless a Commissioner(s) requests separate action on specific item(s). Items pulled from the Consent Calendar will be placed for discussion at the end of the agenda.

7A. QUARTERLY INVESTMENT REPORT Page 1 Overview

This item is for the Committee to:

1) Receive and file the Quarterly Investment Report for the quarter ended September 30, 2018; and 2) Forward to the Commission for final action.

8. ANNUAL INVESTMENT POLICY REVIEW Page 70 Overview

This item is for the Committee to:

1) Adopt Resolution No. 18-018, “Resolution of the Riverside County Transportation Commission Regarding the Revised Investment Policy”; 2) Adopt the revised annual Investment Policy; and 3) Forward to the Commission for final action.

Budget and Implementation Committee November 26, 2018 Page 3

9. AMENDMENT TO SUNLINE TRANSIT AGENCY’S FISCAL YEAR 2018/19 SHORT RANGE TRANSIT PLAN Page 85 Overview

This item is for the Committee to:

1) Approve a modification to SunLine Transit Agency’s (SunLine) Fiscal Year 2018/19 operating assistance funding by amending the original amount of $38,900,991 to $39,654,404 to reflect additional operating expenses and revenues for the West Coast Center of Excellence funded with federal Section 5309 pass-through funds from the Center for Transportation and the Environment (CTE), the Buzz Service subsidized by the city of Palm Springs, and personnel costs for eight new full-time employees scheduled to start in January 2019 and funded with additional Local Transportation Funds (LTF); 2) Approve a modification to SunLine’s FY 2018/19 capital improvement program to reflect an additional request of $2,982,000 in LTF to cover capital expenses related to various stations, facilities and building projects, and partial funding to purchase five trolleys for the new Buzz Service; 3) Approve a modification to SunLine’s FY 2018/19 capital improvement program to reflect an increase of $178,239 in FY 2017/18 Federal Transit Administration (FTA) Section 5339 funds offset by a decrease of the same amount in State Transit Assistance (STA) funds for the fixed route bus replacement, information technology and transit enhancement projects; 4) Reprogram the STA capital amount of $418,000 originally identified in the FY 2014/15 Short Range Transit Plan (SRTP) for the operator breakroom project to the purchase of five trolleys for the Buzz Service; 5) Approve a $2,982,000 adjustment to the FY 2018/19 budget to increase LTF capital expenditures and a $178,239 adjustment to decrease STA expenditures; 6) Approve an amendment to SunLine’s FY 2018/19 SRTP to reflect these changes; and 7) Forward to the Commission for final action.

10. AGREEMENT FOR AUDIT SERVICES FOR THE TRANSPORTATION DEVELOPMENT ACT TRIENNIAL AUDIT Page 90 Overview

This item is for the Committee to:

1) Award Agreement No. 19-62-009-00 to Michael Baker International, Inc. for audit services for the Transportation Development Act (TDA) Triennial Audit for a three-year term, plus one two-year option, in an amount not to exceed $220,815; 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreement on behalf of the Commission; and 3) Forward to the Commission for final action. Budget and Implementation Committee November 26, 2018 Page 4

11. ITEM(S) PULLED FROM CONSENT CALENDAR AGENDA

12. COMMISSIONERS / STAFF REPORT

Overview

This item provides the opportunity for the Commissioners and staff to report on attended and upcoming meeting/conferences and issues related to Commission activities.

13. ADJOURNMENT

The next Budget and Implementation Committee meeting is scheduled to be held at 9:30 a.m., Monday, January 28, 2019, Board Chambers, First Floor, County Administrative Center, 4080 Lemon Street, Riverside.

AGENDA ITEM 5

MINUTES

BLANK RIVERSIDE COUNTY TRANSPORTATION COMMISSION

BUDGET AND IMPLEMENTATION COMMITTEE

Monday, August 27, 2018

MINUTES

1. CALL TO ORDER

The meeting of the Budget and Implementation Committee was called to order by Vice Chair Linda Krupa at 9:31 a.m., in the Board Room at the County of Riverside Administrative Center, 4080 Lemon Street, First Floor, Riverside, California, 92501.

2. ROLL CALL

Members/Alternates Present Members Absent

Rusty Bailey* Steven Hernandez Russell Betts Michael Naggar Randall Bonner John F. Tavaglione Rick Gibbs Jan Harnik Jim Hyatt Shelley Kaplan Linda Krupa Bob Magee Dana Reed Chuck Washington Lloyd White *Arrived after the meeting was called to order

3. PLEDGE OF ALLEGIANCE

Commissioner Russell Betts led the Budget and Implementation Committee in a flag salute.

4. PUBLIC COMMENTS

There were no requests to speak from the public.

RCTC Budget and Implementation Committee Minutes August 27, 2018 Page 2

5. APPROVAL OF MINUTES – JUNE 25, 2018

M/S/C (Bonner/Harnik) to approve the minutes of June 25, 2018 meeting as submitted.

Abstain: Kaplan

6. ADDITIONS / REVISIONS

There were no additions or revisions to the agenda.

M/S/C (Reed/Kaplan) to approve the following Consent Calendar item(s):

7A. SINGLE SIGNATURE AUTHORITY REPORT

1) Receive and file the Single Signature Authority report for the fourth quarter ended June 30, 2018; and 2) Forward to the Commission for final action.

7B. QUARTERLY INVESTMENT REPORT

1) Receive and file the Quarterly Investment Report for the quarter ended June 30, 2018; and 2) Forward to the Commission for final action.

At this time, Chair Rusty Bailey joined the meeting.

8. ENTERPRISE RESOURCE PLANNING SOFTWARE IMPLEMENTATION PROJECT MANAGEMENT OVERSIGHT

Michele Cisneros, Deputy Director of Finance, provided details for the Enterprise Resource Planning (ERP) software implementation project management oversight services and the approval of the sole source agreement with SDI Presence, LLC (SDI).

In response to Commissioner Lloyd White’s inquiry as why this is a sense of urgency as far as the bid process goes, Michele Cisneros replied the finance staff needs to work with the back office toll system operator to develop an integration between their system and the Commission’s financial system. This has to be done before the Interstate 15 Express Lanes open to ensure those financial transactions are coming over. She explained the RCTC Budget and Implementation Committee Minutes August 27, 2018 Page 3

Commission’s toll operator Cofiroute USA is in the Commission’s current year ERP system so instead of moving over two back system operations there would be only one toll system operator to move over into the new ERP system. She explained there are final contract negotiation issues with Tyler Technologies (Tyler) and staff believes in order to get this contract finalized is to move forward with the implementation to meet the I-15 ELP opening deadline.

In response to Commissioner White’s clarification about recognizing the need for this type of consultant support was due to contract difficulties with Tyler, Michele Cisneros replied staff is having delays in finalizing the Tyler contract mainly due to data conversion, what Tyler is proposing to do, and the Commission needs. Therefore, staff needs that expert experience to identify what Tyler is affirming that not all the detailed data needs to be converted over and to be looking out for the Commissions best interest.

Commissioner White expressed being reluctant to approve a sense of urgency contract without going to full bid unless there really is a need and a reason for the sense of urgency.

M/S/C (Harnik/Reed) to:

1) Approve sole source Agreement No. 19-19-003-00 to SDI Presence, LLC (SDI) for Enterprise Resource Planning (ERP) software implementation project management oversight for a two-year period in the amount of $436,800, plus a 15 percent contingency amount of $65,500, for a total amount not to exceed $502,300; 2) Authorize the Chair or Executive Director, pursuant to legal counsel review, to execute the agreement on behalf of the Commission; 3) Authorize the Executive Director, or designee, to approve contingency work pursuant to the agreement terms up to the total amount; 4) Approve a budget adjustment in the amount of $251,100; and 5) Forward to the Commission for final action.

No: White

9. STATE AND FEDERAL LEGISLATIVE UPDATE

Jillian Guizado, Legislative Affairs Manager, provided an update on state and federal legislation.

Commissioner Betts noted he heard the mileage based user fee proposed and explained at the Southern California Association of Governments (SCAG) Transportation Committee about two years ago, there was a presentation regarding the collection fee on the excise tax is by far the most deficient method to collect the tax. He stated by contrast the estimates for cost of collection on vehicle miles traveled is about 20 percent and the 20 RCTC Budget and Implementation Committee Minutes August 27, 2018 Page 4

percent does not count the private sector cost to comply and asked if there is a proposal for the Commission to support some effort.

Jillian Guizado replied this is just receive and file and this is Chairman Bill Shuster’s draft. She explained Chairman Shuster is retiring this year and is hopeful to put something forward that might make a difference in transportation since it is constantly being faced with funding challenges. She stated if there are some details that come forward, staff will provide an update at a future Commission meeting.

Commissioner Betts expressed it is very important that something needs to be done to catch up on the maintenance of the roads and bridges the concern is where to collect it. He stated the problem is the Excise Tax has not been raised in a long time and the representatives in Washington, D.C. do not want to do that for the ramifications they would receive for a vote such as that.

Chair Bailey expressed appreciation for Commissioner Betts’ comments and stated obviously Chairman Shuster wants a legacy and to go out trying to address the issues that he has seen for a lifetime. He inquired is the federal government going to take responsibility or will they push it down to the local governments again.

Anne Mayer referred to the road charge pilot and stated Chairman Shuster’s recommendation is to conduct a nationwide pilot similar to what California recently completed. She expressed the points raised by Commissioner Betts are accurate in that the cost to administer a new program such as that is significant. She discussed the California road charge pilot final report, the pros and cons, and how well done the effort was. Although she is uncertain where it is going to head due to the challenge with implementing new programs such as this.

Commissioner Jan Harnik explained her questions and comments were addressed however, she inquired about receiving the results of the pilot programs as many of the Commissioners had participated in them.

Anne Mayer replied staff will make sure that all Commissioners are provided a link to that final report.

M/S/C to:

1) Receive and file an update on state and federal legislation; and 2) Forward to the Commission for final action.

RCTC Budget and Implementation Committee Minutes August 27, 2018 Page 5

10. QUARTERLY PUBLIC ENGAGEMENT METRICS REPORT, APRIL – JUNE 2018

Cheryl Donahue Public Affairs Manager, provided details for the quarterly Public Engagement metrics report for April – June 2018.

In response to Commissioner Reed’s inquiry for the 4.6 million impressions and if those are the advertisements themselves, Cheryl Donahue replied it could be sponsored RCTC advertisements, the posts staff is doing, or just any type of comment but a large number of that was from advertisements for this past quarter.

M/S/C to:

1) Receive and file the Quarterly Public Engagement Metrics Report for April – June, 2018; and 2) Forward to the Commission for final action.

11. SB 132 AGREEMENT FOR MCKINLEY GRADE SEPARATION PROJECT

Martha Masters, Senior Management Analyst, presented the SB 132 McKinley Grade Separation project, highlighting the following:

• SB 132 projects map • City of Corona McKinley Grade Separation map project location

In response to Commissioner Betts inquiry if this will require an entire environmental impact report, Anne Mayer replied there are special exemptions for grade separations so some grade separations get exemptions from normal processes; although she is uncertain of which combination of documents the city is using.

M/S/C (White/Reed) to:

1) Approve Agreement No. 19-31-005-00 with the city of Corona for the McKinley Grade Separation project that received an allocation of $84,450,000 of SB 132 funds; 2) Authorize the Executive Director, pursuant to legal counsel review, to execute the agreement and any future amendments considered minor, with the exception of changes to funding; and 3) Forward to the Commission for final action.

RCTC Budget and Implementation Committee Minutes August 27, 2018 Page 6

12. FISCAL YEAR 2018/19 ANNUAL LOCAL TRANSPORTATION FUND PLANNING ALLOCATIONS TO WESTERN RIVERSIDE COUNCIL OF GOVERNMENTS AND COACHELLA VALLEY ASSOCIATION OF GOVERNMENTS

Martha Masters provided details for the Fiscal Year 2018/19 allocation of Local Transportation Fund (LTF) funds planning allocations to Western Riverside Council of Governments and Coachella Valley Association of Governments.

M/S/C (Harnik/Hyatt) to:

1) Approve an allocation of Local Transportation Fund (LTF) funds for planning in the amount of $775,500 for Western Riverside Council of Governments (WRCOG) and $423,000 for the Coachella Valley Association of Governments (CVAG) for efforts identified in each agency’s Fiscal Year 2018/19 LTF Program Objectives/Work Plan (Work Plan) that supports transportation planning programs and functions consistent with regional and subregional plans, programs, and requirements; and 2) Forward to the Commission for final action.

13. RIVERSIDE TRANSIT AGENCY FISCAL YEAR 2018/2019 SHORT RANGE TRANSIT PLAN AMENDMENT

Monica Morales, Management Analyst, provided an overview for the Riverside Transit Agency (RTA) Fiscal Year 2018 Short Range Transit Plan (SRTP) amendment.

Anne Mayer explained this bill, which was discussed previously and she is aware that for those cities, other agencies, and counties who are members of a joint powers authority (JPA) such as RTA were very concerned their individual cities could become responsible for the pension liabilities of the JPA service. She expressed it could also become a concern for the Commission for Metrolink so certainly the Commission would not be supportive of that bill. She suggested it is much more effective to pay it off now as opposed to paying it off over such an extended period of time.

M/S/C (Krupa/Bonner) to:

1) Approve an amendment to the Riverside Transit Agency (RTA) Fiscal Year 2018/19 Short Range Transit Plan (SRTP) for $22.1 million related to the payment of RTA’s current unfunded pension liability; 2) Approve an allocation of $22.1 million in Local Transportation Fund (LTF) Western County Bus Unallocated LTF fund balance to provide funding for RTA to pay its current unfunded pension liability; RCTC Budget and Implementation Committee Minutes August 27, 2018 Page 7

3) Approve an adjustment to the FY 2018/19 budget in the amount of $22.1 million to increase transit operating expenditures; and 4) Forward to the Commission for final action.

14. RIVERSIDE COUNTY PUBLIC TRANSPORTATION: ANNUAL COUNTYWIDE PERFORMANCE REPORT FOR FISCAL YEAR 2016/17

Monica Morales presented the Riverside County Public Transportation: Annual Countywide Performance report for FY 2016/17, highlighting the following areas:

• Purpose – Policy and compliance, utilization, accessibility and coverage, connectivity, and resources • Revenue and expense for total passenger fares received and operating expense • Farebox recovery ratio are being met by the transit operators • Actual trips provided – Public Transit Trips Per Capita, FY 2016/17 • Coverage – Bus service areas in varying sizes and landscapes for both Western Riverside County and Blythe area • Themes – o Trend of declining farebox recovery for each operator o Further reduction in ridership for bus and rail service o Continued population growth, with fewer trips provided in consecutive years o Increases in service while ridership and farebox decline o Operators continue to refine services and launch new initiatives

In response to Commissioner Jim Hyatt’s inquiry about the historic farebox experience and asked how the city of Corona continues to be so consistent, Monica Morales replied in FY 2017/18 change as that city was a public demand response so it was slightly different. She asked Dennis Brooks from AMMA Transit Planning to come to the podium.

Dennis Brooks clarified to Commissioner Hyatt about how the city of Corona continues to meet farebox.

Commissioner Hyatt concurred and stated how the city of Corona can be so consistent.

Mr. Brooks explained some of the cities are allowed to use city general funds to contribute to ensure they are meeting that farebox ratio.

In response to Commissioner Shelley Kaplan’s clarification SunLine Transit Agency (SunLine) made arrangements through grant funding to provide free bus service for COD students and if that was included as part of the farebox revenue, Monica Morales replied RCTC Budget and Implementation Committee Minutes August 27, 2018 Page 8

she believes SunLine is using Low Carbon Transit Operations Program (LCTOP) funds, which is considered a local fund and it does get counted as part of their farebox.

Anne Mayer replied that LCTOP is a formula program as a result of the overall Cap-and- Trade program in the state so it is money that funnels down to the local level for programs such as that.

Monica Morales stated many of the transit operators are using it as a fare subsidy option.

Commissioner Dana Reed referred to the percentage of farebox recovery and stated he believes SunLine has a higher goal then RTA and wanted to know why there is not an equal goal.

Dennis Brooks replied SunLine actually has a blended farebox recovery ratio and generally for urbanized areas, it is a 20 percent farebox recovery and for rural areas it is 10 percent, which is based on the population density and the service area they cover.

In response to Commissioner Reed inquiry the city of Riverside, which is an urban area is at about 12 percent, Mr. Brooks replied correct and the city of Riverside’s farebox recovery ratio requirement is 10 percent since it is a demand response system.

Anne Mayer explained the issues for the Commission’s transit providers both bus and rail is continued decreasing ridership and staff will bring updates and work with the transit agencies to ensure they have the tools needed to propose and implement service that is cost effective and meets the requirements. Chair Reed and Commission staff have been invited to attend a SunLine Financial Ad Hoc Committee meeting on September 17, they will be there to answer questions the SunLine Board has regarding transportation and transit funding as well as policies and programs.

Chair Bailey referred to page 163 of the Annual Countywide Performance Report for FY 2016/17 and stated there is a report that UCLA provided great research on “Untapped Potential” this came through Southern California Association of Governments (SCAG). He stated this last year SCAG changed their model of focus on new riders and encourage those new riders to use transit for some trips. He explained one of the statistics in this research proposes that if just one in every four non-riders could be encouraged to take transit trip once every two weeks annual ridership would grow by 96,000,000. He suggested the Commissioners should provide this education piece to their constituents. Much of this research is based on car ownership that is increasing there are more car trips but how can students be connected to the public transportation in the University to provide them that free service and suggested to start discussing this.

RCTC Budget and Implementation Committee Minutes August 27, 2018 Page 9

M/S/C to:

1) Receive and file the Riverside County Public Transportation: Annual Countywide Performance Report (Countywide Report) for Fiscal Year 2016/17; and 2) Forward to the Commission for final action.

15. ITEM(S) PULLED FROM CONSENT CALENDAR AGENDA

16. COMMISSIONERS / EXECUTIVE DIRECTOR REPORT

Anne Mayer announced the September 12 Commission meeting will commence at 9:00 a.m. to accommodate the California League of Cities that is taking place the same day.

17. ADJOURNMENT

There being no further business for consideration by the Budget and Implementation Committee, the meeting was adjourned at 10:21 a.m.

Respectfully submitted,

Lisa Mobley Clerk of the Board AGENDA ITEM 7A BLANK RIVERSIDE COUNTY TRANSPORTATION COMMISSION

DATE: November 26, 2018 TO: Budget and Implementation Committee

FROM: Megan Kavand, Senior Financial Analyst Michele Cisneros, Deputy Finance Director THROUGH: Theresia Trevino, Chief Financial Officer SUBJECT: Quarterly Investment Report

STAFF RECOMMENDATION:

This item is for the Committee to:

1) Receive and file the Quarterly Investment Report for the quarter ended September 30, 2018; and 2) Forward to the Commission for final action.

BACKGROUND INFORMATION:

Prior to Fiscal Year 2013/14, the Commission’s quarterly investment reports reflected investments primarily concentrated in the Riverside County Pooled Investment Fund (RCPIF). Other investments included the state Local Agency Investment Fund and mutual funds. As a result of significant project financings such as the State Route 91 Corridor Improvement Project (91 Project or 91 CIP) and the Interstate 15 Express Lanes Project (I-15 ELP), the Commission determined it would be prudent to engage an investment manager for the bond proceeds and other required funds. Additionally, the Commission desired to engage an investment manager to provide investment advisory and management services related to the Commission’s operating funds.

In May 2013, following a competitive procurement, the Commission awarded two investment management services agreements to Logan Circle Partners, L.P. (Logan) for the 91 Project’s proceeds generated from the issuance of sales tax revenue bonds and toll revenue bonds and to Payden & Rygel Investment Management (Payden & Rygel) for Commission operating funds. At its April 2017 meeting and based on a competitive procurement, the Commission awarded an investment management services agreement to Logan related to the issuance of the sales tax revenue bonds for the I-15 ELP.

Commencing in July 2013, Logan invested the 91 Project debt proceeds and subsequent 91 Project equity contributions in separate accounts of the Short-Term Actively Managed Program (STAMP). Consistent with financing expectations, the Commission expended substantially all of the 91 Project debt proceeds and equity contributions, except for the toll

Agenda Item 7A

1 revenue bonds debt service reserve. The Commission authorized Payden & Rygel to make specific investments for the Commission’s operating funds beginning with the third quarter of FY 2014/15.

In July 2017, the I-15 ELP project and 91 Project completion financing (2017 Financing) was completed and sales tax bond proceeds approximating $154.6 million were received. Logan invested the 2017 Financing debt proceeds in accounts of a separate STAMP portfolio during the first quarter of FY 2017/18.

The quarterly investment report for the first quarter of FY 2018/19, as required by state law and Commission policy, reflects the investment activities resulting from the 91 Project, 2017 Financing, and available operating cash. The quarterly investment report includes the following information:

• Investment Portfolio Report; • 91 CIP STAMP Portfolio by Investment Category; • 91 CIP STAMP Portfolio by Account; • 91 CIP STAMP Portfolio Transaction Report by Account; • 91 CIP STAMP Portfolio Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 91 CIP STAMP Portfolio Toll Revenue Series A & Series B Reserve Fund Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 91 CIP STAMP Portfolio Residual Fund Required Retained Balance Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 2017 Financing STAMP Portfolio by Investment Category; • 2017 Financing STAMP Portfolio by Account; • 2017 Financing STAMP Portfolio Transaction Report by Account; • 2017 Financing STAMP Portfolio Summary of investments by credit rating, industry group, asset class, security type, and market sector; • 2017 Financing STAMP Portfolio Sales Tax Revenue Fund Summary of investment by credit rating, industry group, asset class, security type, and market sector; • 2017 Financing STAMP Portfolio I-15 ELP Sales Tax Senior Lien TIFIA Project Fund Summary of investment by credit rating, industry group, asset class, security type, and market sector; • 2017 Financing STAMP Portfolio Ramp Up Fund Summary of investment by credit rating, industry group, asset class, security type, and market sector; • Logan Circle Partners, L.P. Short Duration Third Quarter 2018 Review; • Payden & Rygel Operating Portfolio by Investment Category; • Payden & Rygel Operating Portfolio Transaction Report; • Payden & Rygel Operating Portfolio Third Quarter 2018 Review; and • County of Riverside Investment Report for the Quarter Ended September 30, 2018.

Agenda Item 7A

2 The Commission’s investments were in full compliance with the Commission’s investment policy adopted on December 13, 2017, and investments securities permitted under the indenture for the Commission’s sales tax revenue bonds and the master indenture for the Commission’s toll revenue bonds. Additionally, the Commission has adequate cash flows for the next six months.

Attachments: 1) Investment Portfolio Report 2) 91 CIP STAMP Portfolio by Investment Category 3) 91 CIP STAMP Portfolio by Account 4) 91 CIP STAMP Portfolio Transaction Report by Account 5) 91 CIP STAMP Portfolio Summary of Investments 6) 91 CIP STAMP Portfolio Toll Revenue Series A & Series B Reserve Fund Summary of Investments 7) 91 CIP STAMP Portfolio Residual Fund Required Retained Balance Summary of investments 8) 2017 Financing STAMP Portfolio by Investment Category 9) 2017 Financing STAMP Portfolio by Account 10) 2017 Financing STAMP Portfolio Transaction Report by Account 11) 2017 Financing STAMP Portfolio Summary of Investments 12) 2017 Financing STAMP Portfolio Sales Tax Revenue Fund Summary of Investments 13) 2017 Financing STAMP Portfolio I-15 ELP Sales Tax Senior Lien TIFIA Project Fund Summary of Investments 14) 2017 Financing STAMP Portfolio Ramp Up Fund Summary of Investments 15) Payden & Rygel Operating Portfolio by Investment Category 16) Payden & Rygel Operating Portfolio Transaction Report 17) Logan Circle Partners, L.P. Short Duration Quarterly Review 18) Payden & Rygel Operating Portfolio Quarterly Review 19) County of Riverside Investment Report

Agenda Item 7A

3 BLANK ATTACHMENT 1

Riverside County Transportation Commission Investment Portfolio Report Period Ended: September 30, 2018

RATING COUPON PAR PURCHASE MATURITY YIELD TO PURCHASE MARKET UNREALIZED FAIR VALUE MOODYS / S&P RATE VALUE DATE DATE MATURITY COST VALUE GAIN (LOSS) OPERATING FUNDS City National Bank Deposits 13,301,488 A3/BBB+ N/A N/A County Treasurer's Pooled Investment Fund 466,126,803 Aaa-bf/AAA-V1 N/A 1.97% Local Agency Investment Fund (LAIF) 3,734,005 N/A N/A N/A Subtotal Operating Funds 483,162,297

FUNDS HELD IN TRUST County Treasurer's Pooled Investment Fund: Local Transportation Fund 61,814,404 Aaa-bf/AAA-V1 N/A 1.97% Subtotal Funds Held in Trust 61,814,404

COMMISSION MANAGED PORTFOLIO US Bank Payden & Rygel Operating 51,195,893 See attached report for details First American Government Obligation Fund 43,269,360 N/A N/A N/A Subtotal Commission Managed Portfolio 94,465,253

STAMP PORTFOLIO for 91 CIP Series A & Series B Reserve Fund 17,766,209 See attached report for details Residual Fund Required Retained Balance 6,587,335 See attached report for details Subtotal STAMP Portfolio - 91 CIP 24,353,543

STAMP PORTFOLIO for 2017 Financing Sales Tax I15 ELP Project Revenue Fund 75,534,875 See attached report for details Sales Tax Revenue Fund 961 See attached report for details Ramp Up Fund 7,971,389 See attached report for details Subtotal STAMP Portfolio - 2017 Financing 83,507,224 TOTAL All Cash and Investments $ 747,302,722

1.00% Money 5.79% Mutual Market Funds $500,000,000 Funds 64.65% Nature of Investments $450,000,000 20.28% Fixed $400,000,000 STAMP Portfolio for 91 CIP Reserve Income

$350,000,000 STAMP Portfolio for 91 CIP Residual Fund

$300,000,000 STAMP Portfolio for 2017 Financing I15 ELP Project Revenue Fund 0.50% LAIF $250,000,000 STAMP Portfolio for 2017 Financing Revenue Fund $200,000,000 STAMP Portfolio for 2017 Financing Ramp Up $150,000,000 Fund Commission Managed Portfolio $100,000,000 12.64% Trust Funds 10.11% $50,000,000 8.27% Operating Funds 2.38% $- 3.29% 72.43% County Pool/Cash

4 BLANK ATTACHMENT 2

91 CIP STAMP Portfolio by Investment Category for quarter ended September 30, 2018

Base Net Total Source Security Type Final Next Call Unrealized Summarized Account Account Identifier Category Issuer Maturity Trade Date Current Face Value Original Cost Date Base Market Value Gain/Loss Coupon Yield Credit Rating 256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 Agency Federal Home Loan Mortgage Corporation 01/13/2022 --- 950,000.00 942,921.50 --- 933,593.50 (16,086.77) 2.375 2.929 AAA 256350023 LC-Sr Lien Reserve Fund-1 3135G0D75 Agency Federal National Mortgage Association, Inc. 06/22/2020 05/06/2015 600,000.00 593,490.00 --- 587,190.00 (10,555.51) 1.500 2.769 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137EADR7 Agency Federal Home Loan Mortgage Corporation 05/01/2020 05/15/2015 475,000.00 471,527.75 --- 464,654.50 (9,206.76) 1.375 2.783 AAA 256350023 LC-Sr Lien Reserve Fund-1 3134GSTK1 Agency Federal Home Loan Mortgage Corporation 08/23/2021 08/27/2018 200,000.00 200,100.00 11/23/2018 200,002.00 (58.92) 3.000 2.989 AAA 256350023 LC-Sr Lien Reserve Fund-1 3134G9V38 Agency Federal Home Loan Mortgage Corporation 07/27/2021 08/28/2018 250,000.00 245,225.00 10/27/2018 244,725.00 (648.24) 1.500 2.962 AAA 256350021 LC-RCTC 2013 Residual Fund 3134GSTK1 Agency Federal Home Loan Mortgage Corporation 08/23/2021 08/27/2018 100,000.00 100,050.00 11/23/2018 100,001.00 (29.46) 3.000 2.989 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136A72D3 Agency CMO Federal National Mortgage Association, Inc. 04/25/2022 07/03/2013 331,344.00 314,776.80 --- 323,229.38 (1,982.71) 2.482 3.564 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137ASNH3 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2021 07/03/2013 98,568.97 96,324.21 --- 97,480.76 (506.49) 1.459 2.787 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AUPE3 Agency CMO Federal Home Loan Mortgage Corporation 06/25/2022 --- 379,000.00 366,344.03 --- 369,483.31 (4,059.11) 2.396 3.104 AAA 256350023 LC-Sr Lien Reserve Fund-1 31395EZP5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2019 07/09/2013 6,555.58 6,935.59 --- 6,574.13 (27.18) 4.500 2.919 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377JZ89 Agency CMO The Government National Mortgage Association Guarante 10/20/2039 07/05/2013 55,512.01 57,209.90 --- 55,395.44 (1,233.94) 3.500 3.538 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 Agency CMO The Government National Mortgage Association Guarante 04/20/2039 --- 121,075.07 123,490.63 --- 119,855.85 (2,633.47) 3.000 3.378 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378TAF7 Agency CMO The Government National Mortgage Association Guarante 07/20/2041 07/05/2013 137,146.93 137,167.60 --- 133,733.34 (3,289.57) 2.500 3.359 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378CRT6 Agency CMO The Government National Mortgage Association Guarante 10/20/2040 05/22/2014 54,766.86 52,884.25 --- 52,197.75 (1,035.61) 2.000 3.677 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376GB33 Agency CMO The Government National Mortgage Association Guarante 10/16/2044 01/23/2015 164,831.26 169,193.56 --- 164,872.47 (888.84) 3.500 3.206 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376T5Z1 Agency CMO The Government National Mortgage Association Guarante 01/16/2039 01/26/2015 85,703.59 89,538.83 --- 84,586.02 (3,889.80) 3.000 3.475 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376WA62 Agency CMO The Government National Mortgage Association Guarante 10/20/2039 --- 81,028.25 84,352.17 --- 83,452.61 (1,485.28) 4.000 2.928 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377RSZ9 Agency CMO The Government National Mortgage Association Guarante 06/16/2039 --- 69,218.05 71,390.72 --- 70,258.40 (369.24) 4.500 2.606 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378B7F0 Agency CMO Government National Mortgage Association 12/16/2042 --- 450,000.00 427,324.22 --- 417,663.00 (17,956.12) 2.273 3.879 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AJMF8 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2021 08/05/2015 30,000.00 31,038.28 --- 29,868.30 (610.70) 2.968 3.076 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137ATRW4 Agency CMO Federal Home Loan Mortgage Corporation 05/25/2022 --- 282,110.00 278,085.13 --- 274,995.19 (3,382.26) 2.373 3.103 AAA 256350023 LC-Sr Lien Reserve Fund-1 38380AZ34 Agency CMO The Government National Mortgage Association Guarante 04/20/2046 11/28/2016 150,339.60 154,550.29 --- 146,781.06 (7,206.26) 3.000 3.462 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AXHP1 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2022 09/29/2017 140,000.00 142,089.06 --- 136,914.40 (4,717.48) 2.573 3.149 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137A5FP4 Agency CMO Federal Home Loan Mortgage Corporation 01/15/2021 --- 115,078.11 115,091.12 --- 114,159.78 (888.12) 2.500 3.006 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378CDK0 Agency CMO The Government National Mortgage Association Guarante 03/20/2035 03/16/2018 27,461.46 27,590.19 --- 27,429.88 (122.99) 3.000 2.968 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377LQT8 Agency CMO The Government National Mortgage Association Guarante 12/20/2037 --- 35,246.09 35,258.69 --- 35,264.77 34.14 3.000 2.567 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378AWX5 Agency CMO The Government National Mortgage Association Guarante 01/20/2036 03/28/2018 103,498.00 104,055.91 --- 103,181.29 (753.40) 3.000 3.149 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378DDC6 Agency CMO The Government National Mortgage Association Guarante 04/20/2038 06/20/2018 161,866.50 162,960.36 --- 162,264.69 (564.51) 3.500 3.017 AAA 256350023 LC-Sr Lien Reserve Fund-1 31398QTP2 Agency CMO Federal Home Loan Mortgage Corporation 05/15/2038 06/26/2018 90,000.00 91,761.33 --- 91,680.30 372.22 4.500 2.071 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377WL77 Agency CMO Government National Mortgage Association 01/20/2039 08/28/2018 45,487.87 45,288.86 --- 45,378.70 116.21 2.000 2.721 AAA 256350023 LC-Sr Lien Reserve Fund-1 38375KCX8 Agency CMO Government National Mortgage Association 01/20/2037 09/18/2018 59,872.05 60,311.74 --- 60,287.56 (47.44) 5.500 3.185 AAA 256350021 LC-RCTC 2013 Residual Fund 3137A1LC5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2020 01/17/2018 16,265.31 16,211.94 --- 16,162.02 (55.75) 2.000 2.916 AAA 256350021 LC-RCTC 2013 Residual Fund 3137A5FP4 Agency CMO Federal Home Loan Mortgage Corporation 01/15/2021 01/30/2018 41,138.17 41,241.01 --- 40,809.89 (401.29) 2.500 3.006 AAA 256350021 LC-RCTC 2013 Residual Fund 38378CDK0 Agency CMO The Government National Mortgage Association Guarante 03/20/2035 01/30/2018 49,430.63 49,886.31 --- 49,373.79 (375.52) 3.000 2.968 AAA 256350021 LC-RCTC 2013 Residual Fund 38378AWX5 Agency CMO The Government National Mortgage Association Guarante 01/20/2036 01/30/2018 34,499.33 34,833.54 --- 34,393.76 (361.27) 3.000 3.149 AAA 256350021 LC-RCTC 2013 Residual Fund 3137APP53 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2020 05/18/2018 12,209.97 12,059.73 --- 12,076.27 (3.16) 1.781 2.972 AAA 256350021 LC-RCTC 2013 Residual Fund 3137A1N90 Agency CMO Federal Home Loan Mortgage Corporation 06/25/2020 06/26/2018 65,000.00 65,594.14 --- 65,455.65 (38.26) 3.531 2.956 AAA 256350023 LC-Sr Lien Reserve Fund-1 31417YKF3 Agency MBS Federal National Mortgage Association, Inc. 01/01/2030 07/10/2013 75,149.97 79,283.22 --- 77,775.71 (1,245.79) 4.500 3.387 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136A4M48 Agency MBS Federal National Mortgage Association, Inc. 01/25/2022 07/05/2013 40,736.60 40,851.17 --- 40,582.62 (206.99) 2.098 7.257 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381PEB0 Agency MBS Federal National Mortgage Association, Inc. 11/01/2020 09/26/2014 252,179.85 265,537.50 --- 253,213.78 (2,905.65) 3.370 3.145 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KXW4 Agency MBS The Government National Mortgage Association Guarante 02/16/2037 12/11/2014 121,082.63 120,496.13 --- 117,373.86 (3,441.36) 1.705 4.024 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378B6A2 Agency MBS Government National Mortgage Association 11/16/2052 01/22/2015 115,089.39 111,461.37 --- 108,498.22 (4,438.63) 1.826 3.781 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KSL4 Agency MBS The Government National Mortgage Association Guarante 12/16/2046 --- 425,000.00 415,829.11 --- 383,681.50 (34,572.31) 2.811 4.284 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KRS0 Agency MBS The Government National Mortgage Association Guarante 07/16/2043 05/08/2015 450,000.00 434,460.94 --- 418,626.00 (21,917.61) 2.389 4.087 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378XP62 Agency MBS The Government National Mortgage Association Guarante 05/16/2055 05/14/2015 318,853.63 322,789.48 --- 301,661.04 (20,248.67) 2.500 3.841 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378KWU9 Agency MBS The Government National Mortgage Association Guarante 11/16/2041 --- 129,823.38 123,824.12 --- 121,523.77 (3,318.10) 1.400 4.550 AAA 256350023 LC-Sr Lien Reserve Fund-1 38379KDN5 Agency MBS Government National Mortgage Association 09/16/2055 08/05/2015 167,300.11 163,026.11 --- 155,804.92 (9,341.76) 2.116 4.059 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138L33G8 Agency MBS Federal National Mortgage Association, Inc. 06/01/2020 11/12/2015 100,000.00 99,875.00 --- 98,181.00 (1,654.83) 2.010 3.023 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381Q6B7 Agency MBS Federal National Mortgage Association, Inc. 06/01/2021 07/15/2016 184,602.41 204,735.61 --- 189,197.16 (6,575.70) 4.295 3.224 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136A7MN9 Agency MBS Federal National Mortgage Association, Inc. 05/25/2022 08/29/2016 300,000.00 308,578.13 --- 290,592.00 (14,305.07) 2.349 3.605 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137B1U75 Agency MBS Federal Home Loan Mortgage Corporation 01/25/2023 08/29/2016 380,000.00 394,917.97 --- 369,850.20 (19,609.80) 2.522 3.266 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138EJPZ5 Agency MBS Federal National Mortgage Association, Inc. 07/01/2022 08/29/2016 274,780.49 291,857.67 --- 270,897.84 (15,296.00) 2.973 3.553 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138L76A9 Agency MBS Federal National Mortgage Association, Inc. 11/01/2021 10/04/2016 123,135.82 127,580.26 --- 122,706.08 (2,629.62) 2.590 2.703 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381T4E7 Agency MBS Federal National Mortgage Association, Inc. 03/01/2022 10/25/2016 263,117.86 274,906.78 --- 257,916.02 (12,039.45) 2.670 3.456 AAA 256350023 LC-Sr Lien Reserve Fund-1 36202F2H8 Agency MBS Ginnie Mae II 01/20/2027 --- 186,569.19 192,299.18 --- 185,227.76 (6,632.51) 3.000 3.211 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136AHAE0 Agency MBS Federal National Mortgage Association, Inc. 04/25/2023 10/28/2016 185,268.39 189,263.24 --- 180,379.16 (7,608.10) 2.603 4.094 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138EKXL4 Agency MBS Federal National Mortgage Association, Inc. 03/01/2023 --- 278,891.59 274,927.29 --- 269,886.18 (5,518.76) 2.350 3.405 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136AC7J4 Agency MBS Federal National Mortgage Association, Inc. 03/25/2023 02/21/2018 56,437.66 55,509.53 --- 54,936.98 (682.66) 2.570 3.560 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381R5T7 Agency MBS Federal National Mortgage Association, Inc. 09/01/2021 08/29/2018 130,000.00 132,747.27 --- 131,596.40 (1,077.80) 3.770 3.272 AAA 256350023 LC-Sr Lien Reserve Fund-1 3138NJAE8 Agency MBS Federal National Mortgage Association, Inc. 12/01/2020 09/13/2018 28,604.81 28,935.56 --- 28,878.56 (55.39) 3.619 3.101 AAA 256350023 LC-Sr Lien Reserve Fund-1 31381N7G2 Agency MBS Federal National Mortgage Association, Inc. 10/01/2020 09/25/2018 45,271.88 45,438.12 --- 45,247.43 (196.53) 3.270 3.357 AAA 256350021 LC-RCTC 2013 Residual Fund 31416BVR6 Agency MBS Federal National Mortgage Association, Inc. 12/01/2020 01/17/2018 49,043.38 50,146.86 --- 50,523.51 777.84 5.000 -0.144 AAA 256350021 LC-RCTC 2013 Residual Fund 3137B1UF7 Agency MBS Federal Home Loan Mortgage Corporation 09/25/2022 01/25/2018 19,069.65 18,789.56 --- 18,612.17 (208.33) 1.785 3.026 AAA 256350021 LC-RCTC 2013 Residual Fund 3137AXHN6 Agency MBS Federal Home Loan Mortgage Corporation 02/25/2022 01/25/2018 33,904.53 33,438.35 --- 33,145.07 (349.73) 1.749 3.033 AAA 256350021 LC-RCTC 2013 Residual Fund 31294KUP8 Agency MBS Federal Home Loan Mortgage Corporation 11/01/2018 02/01/2018 1,120.64 1,131.85 --- 1,128.94 6.03 5.000 -5.593 AAA 256350021 LC-RCTC 2013 Residual Fund 3137AWQG3 Agency MBS Federal Home Loan Mortgage Corporation 04/25/2022 01/30/2018 39,500.65 38,667.43 --- 38,460.60 (318.29) 1.583 3.011 AAA 256350021 LC-RCTC 2013 Residual Fund 3137B2GW4 Agency MBS Federal Home Loan Mortgage Corporation 03/25/2020 06/29/2018 98,064.40 97,428.51 --- 97,258.31 (243.29) 2.313 2.863 AAA 256350021 LC-RCTC 2013 Residual Fund 02582JGN4 Asset Backed American Express Credit Account Master Trust 05/15/2019 01/16/2018 100,000.00 100,351.56 --- 100,194.00 (61.37) 2.528 2.322 AAA 256350021 LC-RCTC 2013 Residual Fund 89236WAD0 Asset Backed Toyota Auto Receivables 2015-A Owner Trust 06/15/2020 01/19/2018 20,408.22 20,353.22 --- 20,376.59 (9.39) 1.520 2.156 AAA 256350021 LC-RCTC 2013 Residual Fund 161571FK5 Asset Backed Chase Issuance Trust 08/15/2019 01/25/2018 115,000.00 113,827.54 --- 113,817.80 (515.07) 1.580 2.779 AAA

5 Page 2 of 32 91 CIP STAMP Portfolio by Investment Category for quarter ended September 30, 2018

Base Net Total Source Security Type Final Next Call Unrealized Summarized Account Account Identifier Category Issuer Maturity Trade Date Current Face Value Original Cost Date Base Market Value Gain/Loss Coupon Yield Credit Rating 256350021 LC-RCTC 2013 Residual Fund 65479AAD4 Asset Backed Nissan Auto Lease Trust 2017-A 04/15/2020 01/25/2018 50,000.00 49,771.48 --- 49,706.50 (177.51) 1.910 2.785 AAA 256350021 LC-RCTC 2013 Residual Fund 055657AC4 Asset Backed Bmw Vehicle Lease Trust 2017-1 05/20/2020 01/29/2018 100,000.00 99,703.13 --- 99,602.00 (273.75) 1.980 2.795 AAA 256350021 LC-RCTC 2013 Residual Fund 65477XAE4 Asset Backed Nissan Auto Lease Trust 2016-B 01/18/2022 04/13/2018 45,000.00 44,637.89 --- 44,864.10 13.46 1.610 2.558 AAA 256350021 LC-RCTC 2013 Residual Fund 05522RCV8 Asset Backed BA Credit Card Trust 05/15/2019 06/29/2018 100,000.00 100,214.84 --- 100,198.00 30.22 2.548 2.336 AAA 256350021 LC-RCTC 2013 Residual Fund 65478DAD9 Asset Backed Nissan Auto Receivables 2018-A Owner Trust 05/16/2022 06/29/2018 85,000.00 84,561.72 --- 84,432.20 (173.68) 2.650 2.998 AAA 256350021 LC-RCTC 2013 Residual Fund 02587AAJ3 Asset Backed American Express Credit Account Master Trust 02/18/2020 06/29/2018 100,000.00 98,515.63 --- 98,614.00 (120.58) 1.930 2.968 AAA 256350021 LC-RCTC 2013 Residual Fund 65478HAD0 Asset Backed NAROT_17-C 04/18/2022 09/25/2018 70,000.00 68,908.98 --- 68,980.80 65.86 2.120 2.899 AAA 256350021 LC-RCTC 2013 Residual Fund 14912L6M8 Corporate Caterpillar Financial Services Corporation 11/13/2018 01/19/2018 100,000.00 99,809.00 --- 99,922.00 (50.37) 1.800 2.410 A 256350021 LC-RCTC 2013 Residual Fund 13607RAB6 Corporate Canadian Imperial Bank of Commerce 09/06/2019 01/19/2018 100,000.00 98,888.00 --- 98,864.00 (492.45) 1.600 2.834 AA 256350021 LC-RCTC 2013 Residual Fund 89114QBF4 Corporate The Toronto-Dominion Bank 01/22/2019 01/19/2018 50,000.00 50,366.50 --- 50,127.50 13.72 3.187 2.448 AA 256350021 LC-RCTC 2013 Residual Fund 05531FAQ6 Corporate BB&T Corporation 02/01/2019 01/25/2018 100,000.00 100,106.00 01/02/2019 99,889.00 (140.01) 2.250 2.569 A 256350021 LC-RCTC 2013 Residual Fund 91159HHE3 Corporate U.S. Bancorp 11/15/2018 01/25/2018 100,000.00 100,035.00 10/15/2018 99,939.00 (62.91) 1.950 2.401 A 256350021 LC-RCTC 2013 Residual Fund 24422ESF7 Corporate John Deere Capital Corporation 12/13/2018 01/25/2018 100,000.00 99,980.00 --- 99,897.00 (98.62) 1.950 2.433 A 256350021 LC-RCTC 2013 Residual Fund 46625HKA7 Corporate JPMorgan Chase & Co. 01/23/2020 01/25/2018 100,000.00 99,577.00 12/23/2019 98,977.00 (741.65) 2.250 3.045 A 256350021 LC-RCTC 2013 Residual Fund 38141EA58 Corporate The Goldman Sachs Group, Inc. 03/15/2020 01/25/2018 100,000.00 105,718.00 --- 103,079.00 (868.53) 5.375 3.204 A 256350021 LC-RCTC 2013 Residual Fund 06406HCU1 Corporate The Bank of New York Mellon Corporation 05/15/2019 01/25/2018 100,000.00 99,974.00 04/15/2019 99,736.00 (252.13) 2.200 2.623 A 256350021 LC-RCTC 2013 Residual Fund 06051GFN4 Corporate Bank of America Corporation 04/21/2020 01/25/2018 100,000.00 99,537.00 --- 98,722.00 (953.51) 2.250 3.093 A 256350021 LC-RCTC 2013 Residual Fund 86787EAS6 Corporate SunTrust Bank 01/31/2020 01/25/2018 100,000.00 100,644.00 12/31/2019 100,348.00 (70.92) 2.872 2.645 A 256350021 LC-RCTC 2013 Residual Fund 0258M0DZ9 Corporate American Express Credit Corporation 11/05/2018 01/25/2018 100,000.00 99,905.00 10/15/2018 99,980.00 (8.33) 1.875 2.282 A 256350021 LC-RCTC 2013 Residual Fund 780082AC7 Corporate Royal Bank of Canada 10/14/2020 01/25/2018 100,000.00 98,862.00 --- 97,845.00 (1,293.80) 2.100 3.197 AAA 256350021 LC-RCTC 2013 Residual Fund 61747WAF6 Corporate Morgan Stanley 01/25/2021 01/29/2018 100,000.00 108,369.00 --- 105,112.00 (1,441.03) 5.750 3.441 A 256350021 LC-RCTC 2013 Residual Fund 06416CAC2 Corporate The Bank of Nova Scotia 04/26/2021 01/29/2018 100,000.00 97,511.00 --- 96,687.00 (1,321.74) 1.875 3.224 AAA 256350021 LC-RCTC 2013 Residual Fund 254010AC5 Corporate Dignity Health 11/01/2019 03/15/2018 24,000.00 23,897.52 --- 23,850.48 (80.57) 2.637 3.221 A 256350021 LC-RCTC 2013 Residual Fund 369550BA5 Corporate General Dynamics Corporation 05/11/2020 05/08/2018 25,000.00 24,911.50 --- 24,939.50 11.19 2.875 3.028 A 256350021 LC-RCTC 2013 Residual Fund 46849LTA9 Corporate Jackson National Life Global Funding 06/11/2021 06/06/2018 30,000.00 30,000.00 --- 30,140.40 140.40 2.811 2.688 AA 256350021 LC-RCTC 2013 Residual Fund 31677QBB4 Corporate Fifth Third Bank 04/25/2019 06/29/2018 200,000.00 199,518.00 03/25/2019 199,652.00 (12.80) 2.375 2.680 A 256350021 LC-RCTC 2013 Residual Fund 61746BDM5 Corporate Morgan Stanley 01/24/2019 06/29/2018 100,000.00 99,869.00 --- 99,943.00 15.89 2.500 2.667 A 256350021 LC-RCTC 2013 Residual Fund 17275RBG6 Corporate Cisco Systems, Inc. 09/20/2019 06/29/2018 150,000.00 147,883.50 --- 148,041.00 (264.76) 1.400 2.763 AA 256350021 LC-RCTC 2013 Residual Fund 40428HPN6 Corporate HSBC USA Inc. 11/13/2019 06/29/2018 100,000.00 99,140.00 --- 99,338.00 45.06 2.375 2.976 A 256350021 LC-RCTC 2013 Residual Fund 89114QAS7 Corporate The Toronto-Dominion Bank 07/02/2019 06/29/2018 100,000.00 99,429.00 --- 99,562.00 (6.09) 2.125 2.708 AA 256350021 LC-RCTC 2013 Residual Fund 06367TPX2 Corporate Bank of Montreal 12/12/2019 06/29/2018 100,000.00 98,847.00 --- 99,045.00 4.30 2.100 2.910 AA GE Capital International Funding Company Unlimited 256350021 LC-RCTC 2013 Residual Fund 36164QMS4 Corporate Company 11/15/2020 07/02/2018 200,000.00 195,482.00 --- 195,424.00 (502.36) 2.342 3.464 A 256350021 LC-RCTC 2013 Residual Fund 375558BB8 Corporate Gilead Sciences, Inc. 09/01/2020 07/03/2018 35,000.00 34,582.10 --- 34,648.25 21.00 2.550 3.091 A 256350021 LC-RCTC 2013 Residual Fund 46625HHS2 Corporate JPMorgan Chase & Co. 07/22/2020 07/03/2018 40,000.00 40,970.00 --- 40,843.20 (17.41) 4.400 3.194 A 256350021 LC-RCTC 2013 Residual Fund 902674XF2 Corporate UBS AG 06/08/2020 07/02/2018 200,000.00 196,114.00 05/08/2020 196,390.00 (197.34) 2.200 3.303 AA 256350021 LC-RCTC 2013 Residual Fund 0258M0EE5 Corporate American Express Credit Corporation 03/03/2020 07/17/2018 60,000.00 59,195.40 02/01/2020 59,328.00 34.68 2.200 3.005 A 256350021 LC-RCTC 2013 Residual Fund 46849LSP7 Corporate Jackson National Life Global Funding 04/29/2021 09/17/2018 10,000.00 9,718.95 --- 9,721.60 (0.84) 2.250 3.383 AA 256350023 LC-Sr Lien Reserve Fund-1 31846V401 MM Fund First American Funds, Inc. 09/30/2018 --- 0.00 5,063.65 --- 5,063.65 0.00 1.580 1.530 AAA 256350021 LC-RCTC 2013 Residual Fund 31846V401 MM Fund First American Funds, Inc. 09/30/2018 --- 0.00 15,422.18 --- 15,422.18 0.00 1.580 1.530 AAA 256350021 LC-RCTC 2013 Residual Fund 459058GK3 Non-US Gov International Bank for Reconstruction and Development 08/21/2020 --- 30,000.00 30,006.00 --- 30,005.40 (0.26) 2.380 2.406 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828SA9 TIPS Treasury, United States Department of 01/15/2022 --- 462,069.30 464,371.95 --- 450,628.46 (13,142.50) 0.125 0.887 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828V49 TIPS Treasury, United States Department of 01/15/2027 --- 292,110.00 290,767.15 --- 278,839.44 (12,116.29) 0.375 0.945 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828UH1 TIPS Treasury, United States Department of 01/15/2023 02/05/2018 191,059.75 188,561.67 --- 184,959.21 (3,927.87) 0.125 0.883 AAA 256350021 LC-RCTC 2013 Residual Fund 912828UH1 TIPS Treasury, United States Department of 01/15/2023 --- 98,259.30 96,388.98 --- 95,121.88 (1,403.16) 0.125 0.883 AAA 256350021 LC-RCTC 2013 Residual Fund 912828SA9 TIPS Treasury, United States Department of 01/15/2022 06/29/2018 200,415.60 197,069.62 --- 195,453.31 (1,855.93) 0.125 0.887 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828B58 US Gov Treasury, United States Department of 44227 --- 1375000 1405890.241 --- 1352340 -36968.1906 2.125 2.85747 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828XB1 US Gov Treasury, United States Department of 05/15/2025 05/24/2016 1,200,000.00 1,228,546.88 --- 1,136,208.00 (85,308.15) 2.125 3.015 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828G38 US Gov Treasury, United States Department of 11/15/2024 04/18/2017 1,350,000.00 1,369,037.11 --- 1,293,732.00 (71,890.99) 2.250 2.999 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828L99 US Gov Treasury, United States Department of 10/31/2020 --- 1,250,000.00 1,239,802.73 --- 1,213,237.50 (30,564.89) 1.375 2.834 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828L57 US Gov Treasury, United States Department of 09/30/2022 --- 1,400,000.00 1,386,564.45 --- 1,337,826.00 (51,981.53) 1.750 2.933 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828VV9 US Gov Treasury, United States Department of 08/31/2020 07/14/2017 305,000.00 310,087.30 --- 301,031.95 (7,117.73) 2.125 2.824 AAA 256350023 LC-Sr Lien Reserve Fund-1 912828UN8 US Gov Treasury, United States Department of 02/15/2023 07/27/2018 105,000.00 101,300.39 --- 100,955.40 (475.54) 2.000 2.943 AAA 256350021 LC-RCTC 2013 Residual Fund 912828UF5 US Gov Treasury, United States Department of 12/31/2019 --- 265,000.00 259,842.78 --- 259,856.35 (901.88) 1.125 2.707 AAA 256350021 LC-RCTC 2013 Residual Fund 912828S76 US Gov Treasury, United States Department of 07/31/2021 06/29/2018 95,000.00 90,769.53 --- 90,483.70 (626.24) 1.125 2.880 AAA 256350021 LC-RCTC 2013 Residual Fund 912828B58 US Gov Treasury, United States Department of 01/31/2021 06/29/2018 265,000.00 261,853.13 --- 260,632.80 (1,526.55) 2.125 2.857 AAA 256350021 LC-RCTC 2013 Residual Fund 912828Q37 US Gov Treasury, United States Department of 03/31/2021 06/29/2018 270,000.00 260,286.33 --- 259,591.50 (1,574.20) 1.250 2.855 AAA 256350021 LC-RCTC 2013 Residual Fund 912828VV9 US Gov Treasury, United States Department of 08/31/2020 --- 510,000.00 505,133.20 --- 503,364.90 (2,265.36) 2.125 2.824 AAA 256350021 LC-RCTC 2013 Residual Fund 912828L57 US Gov Treasury, United States Department of 09/30/2022 06/29/2018 100,000.00 96,167.97 --- 95,559.00 (829.50) 1.750 2.933 AAA 256350021 LC-RCTC 2013 Residual Fund 912828VA5 US Gov Treasury, United States Department of 04/30/2020 --- 445,000.00 434,000.98 --- 433,665.85 (1,264.35) 1.125 2.774 AAA 256350021 LC-RCTC 2013 Residual Fund 56052FHZ1 VRDN Maine State Housing Authority 11/15/2052 06/29/2018 100,000.00 100,000.00 10/30/2018 100,000.00 0.00 2.200 2.200 AA 256350021 LC-RCTC 2013 Residual Fund 658886DZ6 VRDN North Dakota Housing Finance Agency 07/01/2038 06/29/2018 100,000.00 100,000.00 10/31/2018 100,000.00 0.00 2.120 2.120 AA

24,960,174.73 24,993,507.41 24,353,543.96 (626,358.56)

6 Page 3 of 32 ATTACHMENT 3

91 CIP STAMP Portfolio by Account for quarter ended September 30, 2018

Base Net Total Source Security Type Current Face Next Call Unrealized Summarized Account Account Identifier Category Issuer Final Maturity Trade Date Value Original Cost Date Base Market Value Gain/Loss Coupon Yield Credit Rating 256350021 LC-RCTC 2013 Residual Fund 3134GSTK1 Agency Federal Home Loan Mortgage Corporation 08/23/2021 08/27/2018 100,000.00 100,050.00 11/23/2018 100,001.00 (29.46) 3.000 2.989 AAA 256350021 LC-RCTC 2013 Residual Fund 3137A1LC5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2020 01/17/2018 16,265.31 16,211.94 --- 16,162.02 (55.75) 2.000 2.916 AAA 256350021 LC-RCTC 2013 Residual Fund 3137A5FP4 Agency CMO Federal Home Loan Mortgage Corporation 01/15/2021 01/30/2018 41,138.17 41,241.01 --- 40,809.89 (401.29) 2.500 3.006 AAA 256350021 LC-RCTC 2013 Residual Fund 38378CDK0 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 03/20/2035 01/30/2018 49,430.63 49,886.31 --- 49,373.79 (375.52) 3.000 2.968 AAA 256350021 LC-RCTC 2013 Residual Fund 38378AWX5 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 01/20/2036 01/30/2018 34,499.33 34,833.54 --- 34,393.76 (361.27) 3.000 3.149 AAA 256350021 LC-RCTC 2013 Residual Fund 3137APP53 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2020 05/18/2018 12,209.97 12,059.73 --- 12,076.27 (3.16) 1.781 2.972 AAA 256350021 LC-RCTC 2013 Residual Fund 3137A1N90 Agency CMO Federal Home Loan Mortgage Corporation 06/25/2020 06/26/2018 65,000.00 65,594.14 --- 65,455.65 (38.26) 3.531 2.956 AAA 256350021 LC-RCTC 2013 Residual Fund 31416BVR6 Agency MBS Federal National Mortgage Association, Inc. 12/01/2020 01/17/2018 49,043.38 50,146.86 --- 50,523.51 777.84 5.000 -0.144 AAA 256350021 LC-RCTC 2013 Residual Fund 3137B1UF7 Agency MBS Federal Home Loan Mortgage Corporation 09/25/2022 01/25/2018 19,069.65 18,789.56 --- 18,612.17 (208.33) 1.785 3.026 AAA 256350021 LC-RCTC 2013 Residual Fund 3137AXHN6 Agency MBS Federal Home Loan Mortgage Corporation 02/25/2022 01/25/2018 33,904.53 33,438.35 --- 33,145.07 (349.73) 1.749 3.033 AAA 256350021 LC-RCTC 2013 Residual Fund 31294KUP8 Agency MBS Federal Home Loan Mortgage Corporation 11/01/2018 02/01/2018 1,120.64 1,131.85 --- 1,128.94 6.03 5.000 -5.593 AAA 256350021 LC-RCTC 2013 Residual Fund 3137AWQG3 Agency MBS Federal Home Loan Mortgage Corporation 04/25/2022 01/30/2018 39,500.65 38,667.43 --- 38,460.60 (318.29) 1.583 3.011 AAA 256350021 LC-RCTC 2013 Residual Fund 3137B2GW4 Agency MBS Federal Home Loan Mortgage Corporation 03/25/2020 06/29/2018 98,064.40 97,428.51 --- 97,258.31 (243.29) 2.313 2.863 AAA 256350021 LC-RCTC 2013 Residual Fund 02582JGN4 Asset Backed American Express Credit Account Master Trust 05/15/2019 01/16/2018 100,000.00 100,351.56 --- 100,194.00 (61.37) 2.528 2.322 AAA 256350021 LC-RCTC 2013 Residual Fund 89236WAD0 Asset Backed Toyota Auto Receivables 2015-A Owner Trust 06/15/2020 01/19/2018 20,408.22 20,353.22 --- 20,376.59 (9.39) 1.520 2.156 AAA 256350021 LC-RCTC 2013 Residual Fund 161571FK5 Asset Backed Chase Issuance Trust 08/15/2019 01/25/2018 115,000.00 113,827.54 --- 113,817.80 (515.07) 1.580 2.779 AAA 256350021 LC-RCTC 2013 Residual Fund 65479AAD4 Asset Backed Nissan Auto Lease Trust 2017-A 04/15/2020 01/25/2018 50,000.00 49,771.48 --- 49,706.50 (177.51) 1.910 2.785 AAA 256350021 LC-RCTC 2013 Residual Fund 055657AC4 Asset Backed Bmw Vehicle Lease Trust 2017-1 05/20/2020 01/29/2018 100,000.00 99,703.13 --- 99,602.00 (273.75) 1.980 2.795 AAA 256350021 LC-RCTC 2013 Residual Fund 65477XAE4 Asset Backed Nissan Auto Lease Trust 2016-B 01/18/2022 04/13/2018 45,000.00 44,637.89 --- 44,864.10 13.46 1.610 2.558 AAA 256350021 LC-RCTC 2013 Residual Fund 05522RCV8 Asset Backed BA Credit Card Trust 05/15/2019 06/29/2018 100,000.00 100,214.84 --- 100,198.00 30.22 2.548 2.336 AAA 256350021 LC-RCTC 2013 Residual Fund 65478DAD9 Asset Backed Nissan Auto Receivables 2018-A Owner Trust 05/16/2022 06/29/2018 85,000.00 84,561.72 --- 84,432.20 (173.68) 2.650 2.998 AAA 256350021 LC-RCTC 2013 Residual Fund 02587AAJ3 Asset Backed American Express Credit Account Master Trust 02/18/2020 06/29/2018 100,000.00 98,515.63 --- 98,614.00 (120.58) 1.930 2.968 AAA 256350021 LC-RCTC 2013 Residual Fund 65478HAD0 Asset Backed NAROT_17-C 04/18/2022 09/25/2018 70,000.00 68,908.98 --- 68,980.80 65.86 2.120 2.899 AAA 256350021 LC-RCTC 2013 Residual Fund 14912L6M8 Corporate Caterpillar Financial Services Corporation 11/13/2018 01/19/2018 100,000.00 99,809.00 --- 99,922.00 (50.37) 1.800 2.410 A 256350021 LC-RCTC 2013 Residual Fund 13607RAB6 Corporate Canadian Imperial Bank of Commerce 09/06/2019 01/19/2018 100,000.00 98,888.00 --- 98,864.00 (492.45) 1.600 2.834 AA 256350021 LC-RCTC 2013 Residual Fund 89114QBF4 Corporate The Toronto-Dominion Bank 01/22/2019 01/19/2018 50,000.00 50,366.50 --- 50,127.50 13.72 3.187 2.448 AA 256350021 LC-RCTC 2013 Residual Fund 05531FAQ6 Corporate BB&T Corporation 02/01/2019 01/25/2018 100,000.00 100,106.00 01/02/2019 99,889.00 (140.01) 2.250 2.569 A 256350021 LC-RCTC 2013 Residual Fund 91159HHE3 Corporate U.S. Bancorp 11/15/2018 01/25/2018 100,000.00 100,035.00 10/15/2018 99,939.00 (62.91) 1.950 2.401 A 256350021 LC-RCTC 2013 Residual Fund 24422ESF7 Corporate John Deere Capital Corporation 12/13/2018 01/25/2018 100,000.00 99,980.00 --- 99,897.00 (98.62) 1.950 2.433 A 256350021 LC-RCTC 2013 Residual Fund 46625HKA7 Corporate JPMorgan Chase & Co. 01/23/2020 01/25/2018 100,000.00 99,577.00 12/23/2019 98,977.00 (741.65) 2.250 3.045 A 256350021 LC-RCTC 2013 Residual Fund 38141EA58 Corporate The Goldman Sachs Group, Inc. 03/15/2020 01/25/2018 100,000.00 105,718.00 --- 103,079.00 (868.53) 5.375 3.204 A 256350021 LC-RCTC 2013 Residual Fund 06406HCU1 Corporate The Bank of New York Mellon Corporation 05/15/2019 01/25/2018 100,000.00 99,974.00 04/15/2019 99,736.00 (252.13) 2.200 2.623 A 256350021 LC-RCTC 2013 Residual Fund 06051GFN4 Corporate Bank of America Corporation 04/21/2020 01/25/2018 100,000.00 99,537.00 --- 98,722.00 (953.51) 2.250 3.093 A 256350021 LC-RCTC 2013 Residual Fund 86787EAS6 Corporate SunTrust Bank 01/31/2020 01/25/2018 100,000.00 100,644.00 12/31/2019 100,348.00 (70.92) 2.872 2.645 A 256350021 LC-RCTC 2013 Residual Fund 0258M0DZ9 Corporate American Express Credit Corporation 11/05/2018 01/25/2018 100,000.00 99,905.00 10/15/2018 99,980.00 (8.33) 1.875 2.282 A 256350021 LC-RCTC 2013 Residual Fund 780082AC7 Corporate Royal Bank of Canada 10/14/2020 01/25/2018 100,000.00 98,862.00 --- 97,845.00 (1,293.80) 2.100 3.197 AAA 256350021 LC-RCTC 2013 Residual Fund 61747WAF6 Corporate Morgan Stanley 01/25/2021 01/29/2018 100,000.00 108,369.00 --- 105,112.00 (1,441.03) 5.750 3.441 A 256350021 LC-RCTC 2013 Residual Fund 06416CAC2 Corporate The Bank of Nova Scotia 04/26/2021 01/29/2018 100,000.00 97,511.00 --- 96,687.00 (1,321.74) 1.875 3.224 AAA 256350021 LC-RCTC 2013 Residual Fund 254010AC5 Corporate Dignity Health 11/01/2019 03/15/2018 24,000.00 23,897.52 --- 23,850.48 (80.57) 2.637 3.221 A 256350021 LC-RCTC 2013 Residual Fund 369550BA5 Corporate General Dynamics Corporation 05/11/2020 05/08/2018 25,000.00 24,911.50 --- 24,939.50 11.19 2.875 3.028 A 256350021 LC-RCTC 2013 Residual Fund 46849LTA9 Corporate Jackson National Life Global Funding 06/11/2021 06/06/2018 30,000.00 30,000.00 --- 30,140.40 140.40 2.811 2.688 AA 256350021 LC-RCTC 2013 Residual Fund 31677QBB4 Corporate Fifth Third Bank 04/25/2019 06/29/2018 200,000.00 199,518.00 03/25/2019 199,652.00 (12.80) 2.375 2.680 A 256350021 LC-RCTC 2013 Residual Fund 61746BDM5 Corporate Morgan Stanley 01/24/2019 06/29/2018 100,000.00 99,869.00 --- 99,943.00 15.89 2.500 2.667 A 256350021 LC-RCTC 2013 Residual Fund 17275RBG6 Corporate Cisco Systems, Inc. 09/20/2019 06/29/2018 150,000.00 147,883.50 --- 148,041.00 (264.76) 1.400 2.763 AA 256350021 LC-RCTC 2013 Residual Fund 40428HPN6 Corporate HSBC USA Inc. 11/13/2019 06/29/2018 100,000.00 99,140.00 --- 99,338.00 45.06 2.375 2.976 A 256350021 LC-RCTC 2013 Residual Fund 89114QAS7 Corporate The Toronto-Dominion Bank 07/02/2019 06/29/2018 100,000.00 99,429.00 --- 99,562.00 (6.09) 2.125 2.708 AA 256350021 LC-RCTC 2013 Residual Fund 06367TPX2 Corporate Bank of Montreal 12/12/2019 06/29/2018 100,000.00 98,847.00 --- 99,045.00 4.30 2.100 2.910 AA 256350021 LC-RCTC 2013 Residual Fund 36164QMS4 Corporate GE Capital International Funding Company Unlimited Company 11/15/2020 07/02/2018 200,000.00 195,482.00 --- 195,424.00 (502.36) 2.342 3.464 A 256350021 LC-RCTC 2013 Residual Fund 375558BB8 Corporate Gilead Sciences, Inc. 09/01/2020 07/03/2018 35,000.00 34,582.10 --- 34,648.25 21.00 2.550 3.091 A 256350021 LC-RCTC 2013 Residual Fund 46625HHS2 Corporate JPMorgan Chase & Co. 07/22/2020 07/03/2018 40,000.00 40,970.00 --- 40,843.20 (17.41) 4.400 3.194 A 256350021 LC-RCTC 2013 Residual Fund 902674XF2 Corporate UBS AG 06/08/2020 07/02/2018 200,000.00 196,114.00 05/08/2020 196,390.00 (197.34) 2.200 3.303 AA 256350021 LC-RCTC 2013 Residual Fund 0258M0EE5 Corporate American Express Credit Corporation 03/03/2020 07/17/2018 60,000.00 59,195.40 02/01/2020 59,328.00 34.68 2.200 3.005 A 256350021 LC-RCTC 2013 Residual Fund 46849LSP7 Corporate Jackson National Life Global Funding 04/29/2021 09/17/2018 10,000.00 9,718.95 --- 9,721.60 (0.84) 2.250 3.383 AA 256350021 LC-RCTC 2013 Residual Fund 31846V401 MM Fund First American Funds, Inc. 09/30/2018 --- - 15,422.18 --- 15,422.18 - 1.580 1.530 AAA 256350021 LC-RCTC 2013 Residual Fund 459058GK3 Non-US Gov International Bank for Reconstruction and Development 08/21/2020 --- 30,000.00 30,006.00 --- 30,005.40 (0.26) 2.380 2.406 AAA 256350021 LC-RCTC 2013 Residual Fund 912828UH1 TIPS Treasury, United States Department of 01/15/2023 --- 98,259.30 96,388.98 --- 95,121.88 (1,403.16) 0.125 0.883 AAA 256350021 LC-RCTC 2013 Residual Fund 912828SA9 TIPS Treasury, United States Department of 01/15/2022 06/29/2018 200,415.60 197,069.62 --- 195,453.31 (1,855.93) 0.125 0.887 AAA 256350021 LC-RCTC 2013 Residual Fund 912828UF5 US Gov Treasury, United States Department of 12/31/2019 --- 265,000.00 259,842.78 --- 259,856.35 (901.88) 1.125 2.707 AAA 256350021 LC-RCTC 2013 Residual Fund 912828S76 US Gov Treasury, United States Department of 07/31/2021 06/29/2018 95,000.00 90,769.53 --- 90,483.70 (626.24) 1.125 2.880 AAA 256350021 LC-RCTC 2013 Residual Fund 912828B58 US Gov Treasury, United States Department of 01/31/2021 06/29/2018 265,000.00 261,853.13 --- 260,632.80 (1,526.55) 2.125 2.857 AAA 256350021 LC-RCTC 2013 Residual Fund 912828Q37 US Gov Treasury, United States Department of 03/31/2021 06/29/2018 270,000.00 260,286.33 --- 259,591.50 (1,574.20) 1.250 2.855 AAA 256350021 LC-RCTC 2013 Residual Fund 912828VV9 US Gov Treasury, United States Department of 08/31/2020 --- 510,000.00 505,133.20 --- 503,364.90 (2,265.36) 2.125 2.824 AAA 256350021 LC-RCTC 2013 Residual Fund 912828L57 US Gov Treasury, United States Department of 09/30/2022 06/29/2018 100,000.00 96,167.97 --- 95,559.00 (829.50) 1.750 2.933 AAA 256350021 LC-RCTC 2013 Residual Fund 912828VA5 US Gov Treasury, United States Department of 04/30/2020 --- 445,000.00 434,000.98 --- 433,665.85 (1,264.35) 1.125 2.774 AAA 256350021 LC-RCTC 2013 Residual Fund 56052FHZ1 VRDN Maine State Housing Authority 11/15/2052 06/29/2018 100,000.00 100,000.00 10/30/2018 100,000.00 0.00 2.200 2.200 AA 256350021 LC-RCTC 2013 Residual Fund 658886DZ6 VRDN North Dakota Housing Finance Agency 07/01/2038 06/29/2018 100,000.00 100,000.00 10/31/2018 100,000.00 0.00 2.120 2.120 AA 6,647,329.79 6,606,105.39 6,587,334.76 (23,661.65)

256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 Agency Federal Home Loan Mortgage Corporation 01/13/2022 --- 950,000.00 942,921.50 --- 933,593.50 (16,086.77) 2.375 2.929 AAA 256350023 LC-Sr Lien Reserve Fund-1 3135G0D75 Agency Federal National Mortgage Association, Inc. 06/22/2020 05/06/2015 600,000.00 593,490.00 --- 587,190.00 (10,555.51) 1.500 2.769 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137EADR7 Agency Federal Home Loan Mortgage Corporation 05/01/2020 05/15/2015 475,000.00 471,527.75 --- 464,654.50 (9,206.76) 1.375 2.783 AAA 256350023 LC-Sr Lien Reserve Fund-1 3134GSTK1 Agency Federal Home Loan Mortgage Corporation 08/23/2021 08/27/2018 200,000.00 200,100.00 11/23/2018 200,002.00 (58.92) 3.000 2.989 AAA 256350023 LC-Sr Lien Reserve Fund-1 3134G9V38 Agency Federal Home Loan Mortgage Corporation 07/27/2021 08/28/2018 250,000.00 245,225.00 10/27/2018 244,725.00 (648.24) 1.500 2.962 AAA 256350023 LC-Sr Lien Reserve Fund-1 3136A72D3 Agency CMO Federal National Mortgage Association, Inc. 04/25/2022 07/03/2013 331,344.00 314,776.80 --- 323,229.38 (1,982.71) 2.482 3.564 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137ASNH3 Agency CMO Federal Home Loan Mortgage Corporation 09/25/2021 07/03/2013 98,568.97 96,324.21 --- 97,480.76 (506.49) 1.459 2.787 AAA 256350023 LC-Sr Lien Reserve Fund-1 3137AUPE3 Agency CMO Federal Home Loan Mortgage Corporation 06/25/2022 --- 379,000.00 366,344.03 --- 369,483.31 (4,059.11) 2.396 3.104 AAA 256350023 LC-Sr Lien Reserve Fund-1 31395EZP5 Agency CMO Federal Home Loan Mortgage Corporation 08/15/2019 07/09/2013 6,555.58 6,935.59 --- 6,574.13 (27.18) 4.500 2.919 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377JZ89 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 10/20/2039 07/05/2013 55,512.01 57,209.90 --- 55,395.44 (1,233.94) 3.500 3.538 AAA 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 04/20/2039 --- 121,075.07 123,490.63 --- 119,855.85 (2,633.47) 3.000 3.378 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378TAF7 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 07/20/2041 07/05/2013 137,146.93 137,167.60 --- 133,733.34 (3,289.57) 2.500 3.359 AAA 256350023 LC-Sr Lien Reserve Fund-1 38378CRT6 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 10/20/2040 05/22/2014 54,766.86 52,884.25 --- 52,197.75 (1,035.61) 2.000 3.677 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376GB33 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 10/16/2044 01/23/2015 164,831.26 169,193.56 --- 164,872.47 (888.84) 3.500 3.206 AAA 256350023 LC-Sr Lien Reserve Fund-1 38376T5Z1 Agency CMO The Government National Mortgage Association Guaranteed REMIC Pass-T 01/16/2039 01/26/2015 85,703.59 89,538.83 --- 84,586.02 (3,889.80) 3.000 3.475 AAA

7 Page 4 of 32 91 CIP STAMP Portfolio by Account for quarter ended September 30, 2018

8 Page 5 of 32 ATTACHMENT 4

91 CIP STAMP Portfolio Transaction Report by Account Quarter ended September 30, 2018

Base Base Change In Source Beginning Base Base Maturities and Net Total Realized Amortization/A Net Unrealized Ending Base Ending Accrued Account Account Identifier Description Market Value Base Purchases Base Sales Redemptions Base Paydowns Gain/Loss ccretion Gain/Loss Market Value Income Balance 256350021 LC-RCTC 2013 Residual Fund 61747WAF6 MORGAN STANLEY 105,725.00 - - - - - (686.88) 73.88 105,112.00 1,054.17 256350021 LC-RCTC 2013 Residual Fund 38141EA58 GOLDMAN SACHS GROUP INC 103,574.00 - - - - - (663.77) 168.77 103,079.00 238.89 256350021 LC-RCTC 2013 Residual Fund 31416BVR6 FN 995324 62,007.15 - - - (11,805.82) (213.97) (236.20) 772.34 50,523.51 204.35 256350021 LC-RCTC 2013 Residual Fund 46625HHS2 JPMORGAN CHASE & CO - 40,970.00 - - - - (109.39) (17.41) 40,843.20 337.33 256350021 LC-RCTC 2013 Residual Fund 3137A1N90 FHMS K008 A2 65,711.75 - - - - - (98.42) (157.68) 65,455.65 191.26 256350021 LC-RCTC 2013 Residual Fund 89114QBF4 TORONTO-DOMINION BANK 50,222.00 - - - - - (92.63) (1.87) 50,127.50 309.85 256350021 LC-RCTC 2013 Residual Fund 86787EAS6 SUNTRUST BANK 100,352.00 - - - - - (84.52) 80.52 100,348.00 494.69 256350021 LC-RCTC 2013 Residual Fund 02582JGN4 AMXCA 141 A 100,250.00 - - - - - (56.86) 0.86 100,194.00 98.33 256350021 LC-RCTC 2013 Residual Fund 38378CDK0 GNR 11169G AK 58,206.06 - - - (8,693.47) (61.16) (48.75) (28.89) 49,373.79 123.58 256350021 LC-RCTC 2013 Residual Fund 05522RCV8 BACCT 161 A 100,210.00 - - - - - (47.06) 35.06 100,198.00 99.11 256350021 LC-RCTC 2013 Residual Fund 05531FAQ6 BB&T CORP 99,747.00 - - - - - (28.86) 170.86 99,889.00 375.00 256350021 LC-RCTC 2013 Residual Fund 38378AWX5 GNR 11157E QA 39,160.45 - - - (4,645.08) (36.61) (27.15) (57.85) 34,393.76 86.25 256350021 LC-RCTC 2013 Residual Fund 3134GSTK1 FEDERAL HOME LOAN MORTGAGE CORP - 100,050.00 - - - - (19.54) (29.46) 100,001.00 316.67 256350021 LC-RCTC 2013 Residual Fund 3137A5FP4 FHR 3791E DA 44,858.33 - - - (3,927.02) (7.98) (13.94) (99.51) 40,809.89 85.70 256350021 LC-RCTC 2013 Residual Fund 91159HHE3 U.S. BANCORP 99,788.00 - - - - - (12.55) 163.55 99,939.00 736.67 256350021 LC-RCTC 2013 Residual Fund 31294KUP8 FH E01490 4,262.29 - - - (3,090.23) (11.22) (7.05) (24.85) 1,128.94 4.67 256350021 LC-RCTC 2013 Residual Fund 375558BQ5 GILEAD SCIENCES INC 100,098.00 - (100,109.00) - - (24.09) (0.91) 36.00 - - 256350021 LC-RCTC 2013 Residual Fund 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM - 15,006.00 - - - - (0.34) (2.96) 15,002.70 37.12 256350021 LC-RCTC 2013 Residual Fund 31846V401 --- 1,684,762.14 558,947.33 (2,228,287.29) - - - - - 15,422.18 - 256350021 LC-RCTC 2013 Residual Fund 97689P2K3 WISCONSIN HSG & ECONOMIC DEV AUTH HOME OWNERSHIP R 100,000.00 - (100,000.00) ------256350021 LC-RCTC 2013 Residual Fund 136069XZ9 CANADIAN IMPERIAL BANK OF COMMERCE 44,987.85 - (45,065.25) - - 65.25 - 12.15 - - 256350021 LC-RCTC 2013 Residual Fund 46849LTA9 JACKSON NATIONAL LIFE GLOBAL FUNDING 30,038.10 ------102.30 30,140.40 46.85 256350021 LC-RCTC 2013 Residual Fund 3137B2GW4 FHMS K713 A2 97,814.47 (97,955.03) - - - - - 140.56 - - 256350021 LC-RCTC 2013 Residual Fund 56052FHZ1 MAINE ST HSG AUTH MTG PUR 100,000.00 ------100,000.00 732.66 256350021 LC-RCTC 2013 Residual Fund 196479YN3 COLORADO HSG & FIN AUTH 100,000.00 - (100,000.00) ------256350021 LC-RCTC 2013 Residual Fund 658886DZ6 NORTH DAKOTA ST HSG FIN AGY MTG REV 100,000.00 ------100,000.00 501.63 256350021 LC-RCTC 2013 Residual Fund 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM - 15,000.00 - - - - - 2.70 15,002.70 37.12 256350021 LC-RCTC 2013 Residual Fund 3136AC7J4 FNA 13M6 2A 19,236.50 - (19,135.71) - (120.39) (101.34) 2.63 118.31 - - 256350021 LC-RCTC 2013 Residual Fund 46849LSP7 JACKSON NATIONAL LIFE GLOBAL FUNDING - 9,718.95 - - - - 3.49 (0.84) 9,721.60 95.00 256350021 LC-RCTC 2013 Residual Fund 3137A1LC5 FHR 3710F AB 21,818.62 - - - (5,664.27) 16.94 3.72 (12.99) 16,162.02 27.11 256350021 LC-RCTC 2013 Residual Fund 912828VV9 UNITED STATES TREASURY - 49,337.89 - - - - 4.65 6.96 49,349.50 90.99 256350021 LC-RCTC 2013 Residual Fund 06406HCU1 BANK OF NEW YORK MELLON CORP 99,590.00 - - - - - 4.73 141.27 99,736.00 831.11 256350021 LC-RCTC 2013 Residual Fund 24422ESF7 JOHN DEERE CAPITAL CORP 99,691.00 - - - - - 5.52 200.48 99,897.00 585.00 256350021 LC-RCTC 2013 Residual Fund 65478HAD0 NAROT 17C A3 - 68,908.98 - - - - 5.96 65.86 68,980.80 65.96 256350021 LC-RCTC 2013 Residual Fund 89236WAD0 TAOT 15A A4 36,835.17 - - - (16,521.85) 17.25 7.28 38.74 20,376.59 13.79 256350021 LC-RCTC 2013 Residual Fund 912828VA5 UNITED STATES TREASURY - 68,230.86 - - - - 8.92 (22.68) 68,217.10 329.55 256350021 LC-RCTC 2013 Residual Fund 369550BA5 GENERAL DYNAMICS CORP 24,972.75 - - - - - 10.81 (44.06) 24,939.50 279.51 256350021 LC-RCTC 2013 Residual Fund 3137B1UF7 FHMS K027 A1 19,763.24 - - - (1,152.22) 15.58 13.98 (28.41) 18,612.17 28.37 256350021 LC-RCTC 2013 Residual Fund 254010AC5 DIGNITY HEALTH 23,954.16 - - - - - 15.58 (119.26) 23,850.48 263.70 256350021 LC-RCTC 2013 Residual Fund 3137APP53 FHMS K018 A1 13,713.04 - - - (1,654.19) 19.05 17.26 (18.89) 12,076.27 18.12 256350021 LC-RCTC 2013 Residual Fund 58769DAD2 MBALT 17A A3 14,909.25 - (14,937.89) - - (15.37) 23.18 20.84 - - 256350021 LC-RCTC 2013 Residual Fund 3137AXHN6 FHMS K024 A1 35,431.42 - - - (2,285.06) 28.69 25.80 (55.78) 33,145.07 49.42 256350021 LC-RCTC 2013 Residual Fund 0258M0DZ9 AMERICAN EXPRESS CREDIT CORP 99,783.00 - - - - - 30.68 166.32 99,980.00 760.42 256350021 LC-RCTC 2013 Residual Fund 0258M0EE5 AMERICAN EXPRESS CREDIT CORP - 19,733.40 - - - - 32.45 10.15 19,776.00 34.22 256350021 LC-RCTC 2013 Residual Fund 0258M0EE5 AMERICAN EXPRESS CREDIT CORP - 19,731.60 - - - - 32.66 11.74 19,776.00 34.22 256350021 LC-RCTC 2013 Residual Fund 0258M0EE5 AMERICAN EXPRESS CREDIT CORP - 19,730.40 - - - - 32.81 12.79 19,776.00 34.22 256350021 LC-RCTC 2013 Residual Fund 58769DAD2 MBALT 17A A3 36,776.15 - (36,846.80) - - (79.58) 36.54 113.69 - - 256350021 LC-RCTC 2013 Residual Fund 912828XK1 UNITED STATES TREASURY 294,902.65 - (264,927.54) (30,000.00) - (1.15) 39.83 (13.79) - - 256350021 LC-RCTC 2013 Residual Fund 65479AAD4 NALT 17A A3 49,586.00 - - - - - 41.88 78.62 49,706.50 42.44 256350021 LC-RCTC 2013 Residual Fund 65478DAD9 NAROT 18A A3 84,548.65 - - - - - 44.16 (160.61) 84,432.20 100.11 256350021 LC-RCTC 2013 Residual Fund 3137AWQG3 FHMS K023 A1 41,009.88 - - - (2,517.24) 47.79 44.56 (124.39) 38,460.60 52.11 256350021 LC-RCTC 2013 Residual Fund 375558BB8 GILEAD SCIENCES INC - 34,582.10 - - - - 45.15 21.00 34,648.25 74.38 256350021 LC-RCTC 2013 Residual Fund 313385YZ3 FEDERAL HOME LOAN BANKS 229,951.70 - - (230,000.00) - - 45.74 2.56 - - 256350021 LC-RCTC 2013 Residual Fund 06051GFN4 BANK OF AMERICA CORP 98,628.00 - - - - - 51.24 42.76 98,722.00 1,000.00 256350021 LC-RCTC 2013 Residual Fund 46625HKA7 JPMORGAN CHASE & CO 98,714.00 - - - - - 53.03 209.97 98,977.00 425.00 256350021 LC-RCTC 2013 Residual Fund 61746BDM5 MORGAN STANLEY 99,842.00 - - - - - 58.11 42.89 99,943.00 465.28 256350021 LC-RCTC 2013 Residual Fund 14912L6M8 CATERPILLAR FINANCIAL SERVICES CORP 99,727.00 - - - - - 59.12 135.88 99,922.00 690.00 256350021 LC-RCTC 2013 Residual Fund 055657AC4 BMWLT 171 A3 99,415.00 - - - - - 60.95 126.05 99,602.00 60.50 256350021 LC-RCTC 2013 Residual Fund 3137B2GW4 FHMS K713 A2 - 97,774.54 - - (348.29) 2.13 73.21 (243.29) 97,258.31 189.02 256350021 LC-RCTC 2013 Residual Fund 780082AC7 ROYAL BANK OF CANADA 97,910.00 - - - - - 103.10 (168.10) 97,845.00 974.17 256350021 LC-RCTC 2013 Residual Fund 912828VA5 UNITED STATES TREASURY - 38,987.50 - - - - 116.25 (122.55) 38,981.20 188.32 256350021 LC-RCTC 2013 Residual Fund 65477XAE4 NALT 16B A4 44,725.05 - - - - - 118.40 20.65 44,864.10 32.20 256350021 LC-RCTC 2013 Residual Fund 912828VA5 UNITED STATES TREASURY - 131,735.74 - - - - 127.17 (301.36) 131,561.55 635.56 256350021 LC-RCTC 2013 Residual Fund 89114QAS7 TORONTO-DOMINION BANK 99,407.00 - - - - - 139.09 15.91 99,562.00 525.35 256350021 LC-RCTC 2013 Residual Fund 31677QBB4 FIFTH THIRD BANK 199,212.00 - - - - - 146.80 293.20 199,652.00 2,058.33 256350021 LC-RCTC 2013 Residual Fund 40428HPN6 HSBC USA INC (NEW) 99,020.00 - - - - - 152.94 165.06 99,338.00 903.82 256350021 LC-RCTC 2013 Residual Fund 13607RAB6 CANADIAN IMPERIAL BANK OF COMMERCE 98,529.00 - - - - - 171.11 163.89 98,864.00 111.11 256350021 LC-RCTC 2013 Residual Fund 912828UF5 UNITED STATES TREASURY 112,723.00 - (83,406.25) - - (573.10) 185.18 488.88 29,417.70 85.29 256350021 LC-RCTC 2013 Residual Fund 06416CAC2 BANK OF NOVA SCOTIA 96,773.00 - - - - - 187.42 (273.42) 96,687.00 807.29 256350021 LC-RCTC 2013 Residual Fund 161571FK5 CHAIT 124 A 113,553.30 - - - - - 188.81 75.69 113,817.80 80.76 256350021 LC-RCTC 2013 Residual Fund 06367TPX2 BANK OF MONTREAL 98,810.00 - - - - - 193.70 41.30 99,045.00 635.83 256350021 LC-RCTC 2013 Residual Fund 912828UH1 UNITED STATES TREASURY 31,828.67 - - - - - 215.38 (336.76) 31,707.29 8.68 256350021 LC-RCTC 2013 Residual Fund 912828L57 UNITED STATES TREASURY 96,184.00 - - - - - 215.84 (840.84) 95,559.00 4.81 256350021 LC-RCTC 2013 Residual Fund 02587AAJ3 AMXCA 171 A 98,525.00 - - - - - 218.95 (129.95) 98,614.00 85.78 256350021 LC-RCTC 2013 Residual Fund 912828B58 UNITED STATES TREASURY 261,843.85 - - - - - 299.56 (1,510.61) 260,632.80 948.74 256350021 LC-RCTC 2013 Residual Fund 912828S76 UNITED STATES TREASURY 100,332.75 - (9,552.34) - - (25.66) 355.64 (626.70) 90,483.70 180.06 256350021 LC-RCTC 2013 Residual Fund 17275RBG6 CISCO SYSTEMS INC 147,888.00 - - - - - 422.26 (269.26) 148,041.00 64.17 256350021 LC-RCTC 2013 Residual Fund 36164QMS4 GE CAPITAL INTERNATIONAL FUNDING CO - 195,482.00 - - - - 444.36 (502.36) 195,424.00 1,769.51 256350021 LC-RCTC 2013 Residual Fund 912828UH1 UNITED STATES TREASURY 63,657.34 - - - - - 466.15 (708.90) 63,414.59 17.36 256350021 LC-RCTC 2013 Residual Fund 902674XF2 UBS AG (LONDON BRANCH) - 196,114.00 - - - - 473.34 (197.34) 196,390.00 1,381.11 256350021 LC-RCTC 2013 Residual Fund 912828VV9 UNITED STATES TREASURY 455,795.60 - - - - - 481.94 (2,262.14) 454,015.40 837.09 256350021 LC-RCTC 2013 Residual Fund 912828VA5 UNITED STATES TREASURY 195,024.00 - - - - - 662.47 (780.47) 194,906.00 941.58 256350021 LC-RCTC 2013 Residual Fund 912828UF5 UNITED STATES TREASURY - 230,364.26 - - - - 729.64 (655.25) 230,438.65 668.12 256350021 LC-RCTC 2013 Residual Fund 912828Q37 UNITED STATES TREASURY 260,317.80 0.00 0.00 0.00 0.00 0.00 860.67 (1,586.97) 259,591.50 9.27

9 Page 6 of 32 91 CIP STAMP Portfolio Transaction Report by Account Quarter ended September 30, 2018

256350023 LC-Sr Lien Reserve Fund-1 3138EJPZ5 FN AL2239 274,044.46 - - - (1,618.89) (72.86) (1,233.12) (221.75) 270,897.84 680.77 256350023 LC-Sr Lien Reserve Fund-1 31381Q6B7 FN 468066 191,380.60 - - - (818.75) (52.72) (1,037.89) (274.08) 189,197.16 660.72 256350023 LC-Sr Lien Reserve Fund-1 31381T4E7 FN 470721 260,366.79 - - - (1,603.60) (45.90) (873.61) 72.34 257,916.02 585.44 256350023 LC-Sr Lien Reserve Fund-1 31381PEB0 FN 466430 255,591.48 - - - (1,174.52) (21.10) (781.89) (400.18) 253,213.78 708.21 256350023 LC-Sr Lien Reserve Fund-1 912828XB1 UNITED STATES TREASURY 1,148,292.00 - - - - - (762.36) (11,321.64) 1,136,208.00 9,631.79 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 721,305.70 - - - - - (673.12) (2,662.98) 717,969.60 2,613.52 256350023 LC-Sr Lien Reserve Fund-1 3137B1U75 FHMS KS01 A2 371,754.00 - - - - - (666.06) (1,237.74) 369,850.20 798.63 256350023 LC-Sr Lien Reserve Fund-1 912828G38 UNITED STATES TREASURY 1,306,233.00 - - - - - (597.48) (11,903.52) 1,293,732.00 11,473.17 256350023 LC-Sr Lien Reserve Fund-1 912828VV9 UNITED STATES TREASURY 346,801.00 - (44,527.15) - - (958.09) (445.88) 162.07 301,031.95 555.02 256350023 LC-Sr Lien Reserve Fund-1 31398QTP2 FHR 3747C HW 92,242.80 - - - - - (442.66) (119.84) 91,680.30 337.50 256350023 LC-Sr Lien Reserve Fund-1 3136A7MN9 FNA 12M8 A2 291,933.00 - - - - - (440.24) (900.76) 290,592.00 587.35 256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 FREDDIE MAC 197,374.00 - - - - - (347.20) (480.80) 196,546.00 1,029.17 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 296,427.00 - (64,131.64) - - (1,581.50) (309.01) 722.34 231,127.20 841.34 256350023 LC-Sr Lien Reserve Fund-1 3138L76A9 FN AM7164 123,459.72 - - - (555.20) (10.79) (267.75) 80.10 122,706.08 265.77 256350023 LC-Sr Lien Reserve Fund-1 3137EADB2 FREDDIE MAC 197,374.00 - - - - - (265.35) (562.65) 196,546.00 1,029.17 256350023 LC-Sr Lien Reserve Fund-1 3136AHAE0 FNA 13M14 APT 182,657.84 - - - (1,700.97) (26.12) (254.71) (296.89) 180,379.16 401.91 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 98,809.00 - - - - - (247.16) (209.84) 98,352.00 358.02 256350023 LC-Sr Lien Reserve Fund-1 38378DDC6 GNR 1216E GB 192,655.36 - - - (29,459.15) (199.08) (190.15) (542.29) 162,264.69 472.11 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 143,273.05 - - - - - (177.34) (485.31) 142,610.40 519.12 256350023 LC-Sr Lien Reserve Fund-1 912828VV9 UNITED STATES TREASURY 148,629.00 - (148,428.90) - - (3,769.48) (176.34) 3,745.72 - - 256350023 LC-Sr Lien Reserve Fund-1 38377RSZ9 GNR 10162D PQ 69,150.42 - - - (12,569.07) (255.09) (148.37) (135.20) 56,042.69 207.05 256350023 LC-Sr Lien Reserve Fund-1 38376GB33 GNR 116 BA 170,035.51 - - - (5,029.30) (29.42) (118.78) 14.45 164,872.47 480.76 256350023 LC-Sr Lien Reserve Fund-1 3137AXHP1 FHMS K024 A2 137,296.60 - - - - - (115.80) (266.40) 136,914.40 300.18 256350023 LC-Sr Lien Reserve Fund-1 38377RSZ9 GNR 10162D PQ 17,540.60 - - - (3,188.25) (114.80) (109.06) 87.23 14,215.71 52.52 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 113,630.35 - - - - - (108.43) (417.12) 113,104.80 411.72 256350023 LC-Sr Lien Reserve Fund-1 3137AUPE3 FHMS K021 A2 140,641.92 - - - - - (99.70) (158.06) 140,384.16 287.52 256350023 LC-Sr Lien Reserve Fund-1 38378XP62 GNR 14166 PL 311,125.97 - - - (7,925.05) (78.38) (88.30) (1,373.20) 301,661.04 664.28 256350023 LC-Sr Lien Reserve Fund-1 36202F2H8 G2 005276 162,533.26 - - - (12,012.57) (421.67) (82.20) (454.02) 149,562.79 376.61 256350023 LC-Sr Lien Reserve Fund-1 38376T5Z1 GNR 104A PD 90,448.25 - - - (5,385.01) (177.42) (77.60) (222.20) 84,586.02 214.26 256350023 LC-Sr Lien Reserve Fund-1 31381R5T7 FN 468958 - 132,747.27 - - - - (73.07) (1,077.80) 131,596.40 408.42 256350023 LC-Sr Lien Reserve Fund-1 38378AWX5 GNR 11157E QA 117,481.36 - - - (13,935.22) (64.35) (62.61) (237.89) 103,181.29 258.75 256350023 LC-Sr Lien Reserve Fund-1 912828VV9 UNITED STATES TREASURY 84,223.10 - (84,113.48) - - (1,576.72) (54.02) 1,521.11 - - 256350023 LC-Sr Lien Reserve Fund-1 38380AZ34 GNR 16147C DA 153,578.57 - - - (5,424.34) (132.94) (49.62) (1,190.61) 146,781.06 375.85 256350023 LC-Sr Lien Reserve Fund-1 3137AJMF8 FHMS K016 A2 29,877.60 - - - - - (45.79) 36.49 29,868.30 74.19 256350023 LC-Sr Lien Reserve Fund-1 31417YKF3 FN MA0293 82,165.28 - - - (3,466.56) (179.74) (44.81) (698.45) 77,775.71 281.81 256350023 LC-Sr Lien Reserve Fund-1 912828B58 UNITED STATES TREASURY 49,404.50 - - - - - (43.68) (184.82) 49,176.00 179.01 256350023 LC-Sr Lien Reserve Fund-1 3134GSTK1 FEDERAL HOME LOAN MORTGAGE CORP - 200,100.00 - - - - (39.08) (58.92) 200,002.00 633.33 256350023 LC-Sr Lien Reserve Fund-1 38377WL77 GNR 1194A AB - 58,278.62 - - (13,046.84) 65.33 (34.62) 116.21 45,378.70 75.81 256350023 LC-Sr Lien Reserve Fund-1 38378CRT6 GNR 1213E EG 55,952.49 - - - (3,585.68) 97.57 (31.40) (235.24) 52,197.75 91.28 256350023 LC-Sr Lien Reserve Fund-1 38376WA62 GNR 1015C PD 46,531.94 - - - (3,839.26) (243.82) (25.88) (227.83) 42,195.14 136.56 256350023 LC-Sr Lien Reserve Fund-1 3137A5FP4 FHR 3791E DA 75,038.61 - - - (6,569.08) (13.36) (23.32) (166.45) 68,266.40 143.37 256350023 LC-Sr Lien Reserve Fund-1 38378CDK0 GNR 11169G AK 32,336.69 - - - (4,829.71) (18.30) (19.48) (39.32) 27,429.88 68.65 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 GNR 10166F GP 39,204.65 - - - (2,691.23) (68.22) (17.90) (66.54) 36,360.76 91.83 256350023 LC-Sr Lien Reserve Fund-1 38377LQT8 GNR 10128D KE 35,721.48 - - - (8,748.73) (1.58) (17.07) (57.24) 26,896.86 67.21 256350023 LC-Sr Lien Reserve Fund-1 3136A4M48 FNA 12M3A 1A1 133,837.64 - - - (94,433.82) (137.28) (15.15) 1,331.22 40,582.62 71.22 256350023 LC-Sr Lien Reserve Fund-1 31395EZP5 FHR 2835G MD 10,323.52 - - - (3,710.56) (29.24) (14.82) 5.22 6,574.13 24.58 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 GNR 10166F GP 65,341.09 - - - (4,485.38) (61.39) (14.11) (178.94) 60,601.27 153.04 256350023 LC-Sr Lien Reserve Fund-1 38377LQT8 GNR 10128D KE 11,113.35 - - - (2,721.83) 1.57 (3.38) (21.81) 8,367.91 20.91 256350023 LC-Sr Lien Reserve Fund-1 38376WA62 GNR 1015C PD 45,497.89 - - - (3,753.94) (125.21) (2.93) (358.34) 41,257.47 133.53 256350023 LC-Sr Lien Reserve Fund-1 38378TAF7 GNR 1371A GA 141,689.12 - - - (7,049.78) 6.28 (2.60) (909.68) 133,733.34 285.72 256350023 LC-Sr Lien Reserve Fund-1 3138NJAE8 FN FN0004 - 28,935.56 - - - - (1.61) (55.39) 28,878.56 86.27 256350023 LC-Sr Lien Reserve Fund-1 3137ATRW4 FHMS K020 A2 122,055.00 - - - - - (0.31) (207.19) 121,847.50 247.19 256350023 LC-Sr Lien Reserve Fund-1 31846V401 FIRST AMER:GVT OBLG D 1,201.86 744,448.99 (740,587.20) - - - - - 5,063.65 - 256350023 LC-Sr Lien Reserve Fund-1 36202F2H8 G2 005276 - 36,876.43 - - (918.63) (0.90) 0.02 (291.96) 35,664.96 89.81 256350023 LC-Sr Lien Reserve Fund-1 3138L33G8 FN AM3498 98,249.00 - - - - - 3.59 (71.59) 98,181.00 167.50 256350023 LC-Sr Lien Reserve Fund-1 38377RVK8 GNR 10166F GP 24,684.40 - - - (1,694.48) 25.22 4.99 (126.34) 22,893.81 57.82 256350023 LC-Sr Lien Reserve Fund-1 31381N7G2 FN 466295 - 45,438.12 - - - - 5.84 (196.53) 45,247.43 123.37 256350023 LC-Sr Lien Reserve Fund-1 3137A5FP4 FHR 3791E DA 50,446.12 - - - (4,416.18) 14.84 6.09 (157.50) 45,893.38 96.38 256350023 LC-Sr Lien Reserve Fund-1 38377JZ89 GNR 10117A GK 60,414.03 - - - (4,662.51) (91.97) 7.36 (271.48) 55,395.44 161.91 256350023 LC-Sr Lien Reserve Fund-1 38378KWU9 GNR 1396 A 14,472.51 - - - (128.69) 1.40 8.21 (56.53) 14,296.92 17.82 256350023 LC-Sr Lien Reserve Fund-1 3138EKXL4 FN AL3382 239,788.65 - - - (1,401.89) 13.13 13.76 (1,351.47) 237,062.19 479.74 256350023 LC-Sr Lien Reserve Fund-1 38378KXW4 GNR 13105 A 165,848.54 - - - (50,754.43) 117.28 15.43 2,147.05 117,373.86 172.04 256350023 LC-Sr Lien Reserve Fund-1 38375KCX8 GNR 0726C MA - 60,311.74 - - - - 23.26 (47.44) 60,287.56 274.41 256350023 LC-Sr Lien Reserve Fund-1 38378KWU9 GNR 1396 A 54,271.92 - - - (482.58) 6.27 28.32 (210.51) 53,613.43 66.82 256350023 LC-Sr Lien Reserve Fund-1 38378KSL4 GNR 1374 AL 205,726.50 - - - - - 30.87 (2,631.87) 203,125.50 527.00 256350023 LC-Sr Lien Reserve Fund-1 3138EKXL4 FN AL3382 18,445.28 - - - (107.84) 3.48 34.31 (139.68) 18,235.55 36.90 256350023 LC-Sr Lien Reserve Fund-1 3138EKXL4 FN AL3382 14,756.22 - - - (86.27) 3.38 35.17 (120.06) 14,588.44 29.52 256350023 LC-Sr Lien Reserve Fund-1 912828L99 UNITED STATES TREASURY 145,921.50 - - - - - 37.96 (370.96) 145,588.50 863.11 256350023 LC-Sr Lien Reserve Fund-1 3136AC7J4 FNA 13M6 2A 69,251.43 - - - (14,323.82) 211.76 54.39 (256.77) 54,936.98 120.87 256350023 LC-Sr Lien Reserve Fund-1 38378B6A2 GNR 1312A AB 109,718.71 - - - (663.52) 12.68 67.06 (636.71) 108,498.22 175.13 256350023 LC-Sr Lien Reserve Fund-1 3137ASNH3 FHMS K019 A1 113,065.50 - - - (15,817.70) 101.42 79.79 51.76 97,480.76 119.84 256350023 LC-Sr Lien Reserve Fund-1 38378KSL4 GNR 1374 AL 182,868.00 - - - - - 91.80 (2,403.80) 180,556.00 468.44 256350023 LC-Sr Lien Reserve Fund-1 912828VA5 UNITED STATES TREASURY 156,019.20 - (156,095.11) - - (2,907.23) 93.61 2,889.54 - - 256350023 LC-Sr Lien Reserve Fund-1 38378B7F0 GNR 1333 B 187,136.00 - - - - - 106.65 (1,614.65) 185,628.00 378.83 256350023 LC-Sr Lien Reserve Fund-1 38379KDN5 GNR 1529 AD 157,721.62 - - - (773.14) 10.34 124.80 (1,278.70) 155,804.92 295.00 256350023 LC-Sr Lien Reserve Fund-1 912828UN8 UNITED STATES TREASURY - 101,300.39 - - - - 130.55 (475.54) 100,955.40 268.21 256350023 LC-Sr Lien Reserve Fund-1 3134G9V38 FEDERAL HOME LOAN MORTGAGE CORP - 245,225.00 - - - - 148.24 (648.24) 244,725.00 666.67 256350023 LC-Sr Lien Reserve Fund-1 3137EADR7 FREDDIE MAC 465,224.50 - - - - - 177.12 (747.12) 464,654.50 2,721.35 256350023 LC-Sr Lien Reserve Fund-1 38378KWU9 GNR 1396 A - 53,277.35 - - (322.12) 24.71 196.84 436.64 53,613.42 66.82 256350023 LC-Sr Lien Reserve Fund-1 912828L57 UNITED STATES TREASURY 529,012.00 - - - - - 205.83 (3,643.33) 525,574.50 26.44 256350023 LC-Sr Lien Reserve Fund-1 3137ATRW4 FHMS K020 A2 153,408.49 - - - - - 219.81 (480.61) 153,147.69 310.69

10 Page 7 of 32 91 CIP STAMP Portfolio Transaction Report by Account Quarter ended September 30, 2018

11 Page 8 of 32 BLANK ATTACHMENT 5

91 CIP STAMP Portfolio Summary of Investments for quarter ended September 30, 2018 Credit Rating Industry Group

Asset Class Security Type Market Sector

*Negative cash reflects securities in transit at month end

12 BLANK ATTACHMENT 6

91 CIP STAMP Portfolio Series A & Series B Reserve Fund Summary of Investments for quarter ended September 30, 2018 Credit Rating Industry Group

Asset Class Security Type Market Sector

*Negative cash reflects securities in transit at month end

13 BLANK ATTACHMENT 7

91 CIP STAMP Portfolio Residual Fund Required Retained Balance Summary of Investments for quarter ended September 30, 2018 Credit Rating Industry Group

Asset Class Security Type Market Sector

14 BLANK ATTACHMENT 8

2017 Financing STAMP Portfolio by Investment Category for quarter ended September 30, 2018

Base Net Total Source Security Type Final Next Call Unrealized Summarized Account Account Identifier Category Issuer Maturity Trade Date Current Face Value Original Cost Date Base Market Value Gain/Loss Coupon Yield Credit Rating 240907020 RCTC I-15 Prj RAMP UP RESERVE 3130AECJ7 Agency Federal Home Loan Banks 05/28/2020 07/03/2018 350,000.00 350,150.50 --- 349,013.00 (1,122.07) 2.625 2.798 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3134GSTK1 Agency Federal Home Loan Mortgage Corporation 08/23/2021 08/27/2018 150,000.00 150,075.00 11/23/2018 150,001.50 (44.19) 3.000 2.989 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3137AL6V6 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2018 12/01/2017 227,141.68 227,691.79 --- 226,760.08 (381.60) 2.323 2.511 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3137ANMN2 Agency CMO Federal Home Loan Mortgage Corporation 12/25/2018 --- 666,568.64 666,115.76 --- 203,486.57 (206.76) 2.220 2.458 AAA 240907004 LC-RCTC Toll Revenue: - I-15 31398E2E3 Agency CMO Federal Home Loan Mortgage Corporation 01/25/2019 01/03/2018 52,629.26 53,681.85 --- 52,661.37 (146.80) 5.053 2.457 AAA 240907004 LC-RCTC Toll Revenue: - I-15 31397Q4Q8 Agency CMO Federal National Mortgage Association, Inc. 03/25/2035 01/10/2018 141,656.53 142,851.76 --- 141,775.52 (112.41) 4.000 2.223 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3137FBUW4 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2019 01/23/2018 830,000.00 830,389.06 --- 830,091.30 (1,441.35) 2.281 2.490 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137ANMN2 Agency CMO Federal Home Loan Mortgage Corporation 12/25/2018 12/05/2017 1,164,877.24 1,167,269.89 --- 1,162,780.46 (1,037.94) 2.220 2.458 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 383742C76 Agency CMO Government National Mortgage Association 08/16/2037 01/31/2018 86,638.14 88,804.09 --- 88,032.15 (579.86) 4.000 3.203 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38375JCJ2 Agency CMO Government National Mortgage Association 12/16/2037 01/31/2018 31,209.83 31,307.36 --- 31,345.90 90.13 5.305 3.346 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137ASR97 Agency CMO Federal Home Loan Mortgage Corporation 01/25/2022 02/27/2018 35,320.03 34,525.33 --- 34,428.55 (197.66) 1.573 2.993 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38375KCX8 Agency CMO Government National Mortgage Association 01/20/2037 09/18/2018 196,722.45 198,167.13 --- 198,087.70 (155.85) 5.500 3.185 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31392J6N4 Agency CMO Federal National Mortgage Association, Inc. 04/25/2023 12/05/2017 557,127.46 606,088.30 --- 581,390.36 (18,631.79) 5.500 2.831 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B84S3 Agency CMO Federal Home Loan Mortgage Corporation 02/15/2029 01/31/2018 141,852.61 140,079.45 --- 138,777.24 (1,374.87) 2.000 3.155 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31397SE83 Agency CMO Federal National Mortgage Association, Inc. 02/25/2039 01/30/2018 17,479.68 17,578.00 --- 17,475.31 (1.60) 4.000 2.121 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137A5FP4 Agency CMO Federal Home Loan Mortgage Corporation 01/15/2021 01/30/2018 70,550.40 70,726.78 --- 69,987.41 (688.20) 2.500 3.006 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31398N2K9 Agency CMO Federal National Mortgage Association, Inc. 11/25/2025 01/31/2018 13,153.54 13,202.87 --- 13,130.92 (33.05) 3.500 3.245 AAA The Government National Mortgage Association 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378CDK0 Agency CMO Guaranteed REMIC Pass-Through Securities 03/20/2035 01/30/2018 115,338.14 116,401.41 --- 115,205.50 (876.23) 3.000 2.968 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378AWX5 Agency CMO The Government National Mortgage Association Guarante 01/20/2036 01/30/2018 172,496.66 174,167.72 --- 171,968.82 (1,806.34) 3.000 3.149 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378DDC6 Agency CMO The Government National Mortgage Association Guarante 04/20/2038 06/20/2018 97,119.90 97,776.22 --- 97,358.82 (338.71) 3.500 3.017 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 38377WL77 Agency CMO Government National Mortgage Association 01/20/2039 08/28/2018 20,341.17 20,252.18 --- 20,292.35 51.96 2.000 2.721 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3137B2GW4 Agency MBS Federal Home Loan Mortgage Corporation 03/25/2020 06/29/2018 588,386.39 584,571.08 --- 583,549.86 (1,459.75) 2.313 2.863 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3136AK2A0 Agency MBS Federal National Mortgage Association, Inc. 09/25/2019 01/08/2018 221,390.54 221,053.53 --- 219,889.51 (1,196.39) 2.171 2.955 AAA 240907004 LC-RCTC Toll Revenue: - I-15 31381S5E8 Agency MBS Federal National Mortgage Association, Inc. 12/01/2018 12/01/2017 438,823.01 440,537.16 --- 438,134.06 (449.10) 2.640 2.568 AAA 240907004 LC-RCTC Toll Revenue: - I-15 36225B5Y0 Agency MBS Government National Mortgage Association 06/15/2019 12/21/2017 9,216.88 9,320.58 --- 9,216.42 (16.70) 5.500 3.864 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31283K5N4 Agency MBS Federal Home Loan Mortgage Corporation 08/01/2020 12/05/2017 628,765.70 642,928.01 --- 640,177.79 (18,808.40) 5.000 1.875 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3620A9WV9 Agency MBS Government National Mortgage Association 12/15/2024 05/23/2018 15,384.17 15,720.70 --- 15,697.69 (9.57) 4.000 3.052 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3138NJAE8 Agency MBS Federal National Mortgage Association, Inc. 12/01/2020 09/13/2018 50,853.00 51,441.00 --- 51,339.66 (98.46) 3.619 3.101 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31381N7G2 Agency MBS Federal National Mortgage Association, Inc. 10/01/2020 09/25/2018 90,543.77 90,876.24 --- 90,494.88 (393.04) 3.270 3.357 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3136AC7J4 Agency MBS Federal National Mortgage Association, Inc. 03/25/2023 02/21/2018 47,031.38 46,257.94 --- 45,780.82 (568.89) 2.570 3.560 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B1U75 Agency MBS Federal Home Loan Mortgage Corporation 01/25/2023 02/27/2018 120,000.00 117,965.63 --- 116,794.80 (1,405.22) 2.522 3.266 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B3NW4 Agency MBS Federal Home Loan Mortgage Corporation 09/25/2022 09/26/2018 108,552.99 107,620.12 --- 107,839.80 230.55 2.778 3.038 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137AXHN6 Agency MBS Federal Home Loan Mortgage Corporation 02/25/2022 01/25/2018 80,849.28 79,737.61 --- 79,038.26 (833.95) 1.749 3.033 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 31418ASD1 Agency MBS Federal National Mortgage Association, Inc. 04/01/2023 01/31/2018 83,196.56 82,388.57 --- 81,434.46 (981.36) 2.000 3.104 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137B1UF7 Agency MBS Federal Home Loan Mortgage Corporation 09/25/2022 01/25/2018 40,863.54 40,263.36 --- 39,883.23 (446.41) 1.785 3.026 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3620ARB67 Agency MBS Government National Mortgage Association 05/15/2025 05/23/2018 31,685.85 32,438.40 --- 32,314.50 (100.06) 4.000 3.116 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3136A96F0 Agency MBS Federal National Mortgage Association, Inc. 11/25/2022 02/27/2018 75,000.00 72,694.34 --- 72,251.25 (810.02) 2.184 3.550 AAA 240907004 LC-RCTC Toll Revenue: - I-15 05522RCQ9 Asset Backed BA Credit Card Trust 01/15/2019 03/21/2018 1,100,000.00 1,102,406.25 --- 1,101,100.00 (115.74) 2.538 2.300 AAA 240907004 LC-RCTC Toll Revenue: - I-15 02582JGN4 Asset Backed American Express Credit Account Master Trust 05/15/2019 01/16/2018 252,000.00 252,885.94 --- 252,488.88 (154.67) 2.528 2.322 AAA 240907004 LC-RCTC Toll Revenue: - I-15 89236WAD0 Asset Backed Toyota Auto Receivables 2015-A Owner Trust 06/15/2020 01/19/2018 223,674.14 223,071.26 --- 223,327.44 (102.96) 1.520 2.156 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65478AAD5 Asset Backed Nissan Auto Receivables 2015-C Owner Trust 05/15/2020 12/21/2017 344,108.66 342,966.12 --- 342,904.28 (584.18) 1.370 2.416 AAA 240907004 LC-RCTC Toll Revenue: - I-15 43814LAC3 Asset Backed Honda Auto Receivables 2015-4 Owner Trust 09/23/2019 07/24/2017 0.02 0.02 --- 0.02 (0.00) 1.230 1.903 AAA 240907004 LC-RCTC Toll Revenue: - I-15 05522RCV8 Asset Backed BA Credit Card Trust 05/15/2019 06/29/2018 750,000.00 751,611.33 --- 751,485.00 226.59 2.548 2.336 AAA 240907004 LC-RCTC Toll Revenue: - I-15 161571HC1 Asset Backed Chase Issuance Trust 06/17/2019 --- 763,000.00 758,373.05 --- 755,720.98 (5,455.83) 1.370 2.726 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65477XAE4 Asset Backed Nissan Auto Lease Trust 2016-B 01/18/2022 04/13/2018 405,000.00 401,741.02 --- 403,776.90 121.16 1.610 2.558 AAA 240907004 LC-RCTC Toll Revenue: - I-15 05582XAD4 Asset Backed Bmw Vehicle Lease Trust 2016-2 09/20/2019 07/27/2017 579,883.03 578,682.49 --- 578,270.96 (1,407.20) 1.430 2.723 AAA 240907004 LC-RCTC Toll Revenue: - I-15 58768MAC5 Asset Backed Mercedes-Benz Auto Lease Trust 2016-B 08/15/2019 --- 683,403.04 681,459.93 --- 682,220.75 (870.83) 1.350 2.653 AAA 240907004 LC-RCTC Toll Revenue: - I-15 90290XAD9 Asset Backed USAA Auto Owner Trust 2005-1 11/16/2020 03/22/2018 0.01 0.01 --- 0.01 (0.00) 1.540 1.664 AAA 240907004 LC-RCTC Toll Revenue: - I-15 161571HJ6 Asset Backed Chase Issuance Trust 01/15/2020 03/23/2018 500,000.00 501,347.66 --- 501,490.00 212.20 2.458 2.320 AAA 240907004 LC-RCTC Toll Revenue: - I-15 02587AAJ3 Asset Backed American Express Credit Account Master Trust 02/18/2020 06/29/2018 650,000.00 640,351.56 --- 640,991.00 (783.73) 1.930 2.968 AAA 240907004 LC-RCTC Toll Revenue: - I-15 58769DAD2 Asset Backed Mercedes-Benz Auto Lease Trust 2017-A 03/16/2020 07/27/2017 965,000.00 965,942.38 --- 961,043.50 (4,177.58) 1.790 2.713 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65479AAD4 Asset Backed Nissan Auto Lease Trust 2017-A 04/15/2020 01/25/2018 850,000.00 846,115.23 --- 845,010.50 (3,017.77) 1.910 2.785 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65478GAC4 Asset Backed Nissan Auto Receivables 2017-B Owner Trust 05/15/2020 06/29/2018 403,004.78 402,926.07 --- 403,004.78 0.28 2.258 2.394 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65478DAD9 Asset Backed Nissan Auto Receivables 2018-A Owner Trust 05/16/2022 06/29/2018 600,000.00 596,906.25 --- 595,992.00 (1,225.98) 2.650 2.998 AAA 240907004 LC-RCTC Toll Revenue: - I-15 47788CAA0 Asset Backed John Deere Owner Trust 2018 03/15/2019 02/21/2018 472,280.81 472,280.81 --- 472,167.46 (113.35) 1.950 2.269 AAA 240907004 LC-RCTC Toll Revenue: - I-15 55379WKQ8 CD MUFG Bank, Ltd. 10/15/2018 09/26/2018 2,000,000.00 1,999,898.44 --- 1,999,900.00 (25.17) 2.110 2.216 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 62888VAA6 CMO NCUA Guaranteed Notes Trust 2011-R1 10/07/2020 01/30/2018 44,836.65 44,976.77 --- 44,975.20 33.17 2.530 2.546 AAA 240907004 LC-RCTC Toll Revenue: - I-15 46625HHL7 Corporate JPMorgan Chase & Co. 04/23/2019 07/25/2017 1,000,000.00 1,075,520.00 --- 1,019,800.00 (5,254.32) 6.300 2.767 A 240907004 LC-RCTC Toll Revenue: - I-15 38141EA58 Corporate The Goldman Sachs Group, Inc. 03/15/2020 07/26/2017 500,000.00 540,800.00 --- 515,395.00 (7,729.73) 5.375 3.204 A 240907004 LC-RCTC Toll Revenue: - I-15 78011DAF1 Corporate Royal Bank of Canada 10/01/2018 08/08/2018 850,000.00 849,566.50 --- 850,000.00 - 2.000 1.981 AAA 240907004 LC-RCTC Toll Revenue: - I-15 718172BF5 Corporate Philip Morris International Inc. 01/15/2019 07/26/2017 1,000,000.00 1,003,040.00 --- 998,080.00 (2,536.54) 1.875 2.516 A 240907004 LC-RCTC Toll Revenue: - I-15 61746BDM5 Corporate Morgan Stanley 01/24/2019 --- 1,500,000.00 1,508,405.00 --- 1,499,145.00 (2,450.26) 2.500 2.667 A 240907004 LC-RCTC Toll Revenue: - I-15 0258M0DK2 Corporate American Express Credit Corporation 03/18/2019 07/25/2017 1,000,000.00 1,006,560.00 --- 997,820.00 (4,093.02) 2.125 2.591 A 240907004 LC-RCTC Toll Revenue: - I-15 172967HM6 Corporate Citigroup Inc. 04/08/2019 07/25/2017 1,000,000.00 1,010,110.00 --- 998,960.00 (4,232.72) 2.550 2.749 BBB 240907004 LC-RCTC Toll Revenue: - I-15 31677QBB4 Corporate Fifth Third Bank 04/25/2019 06/29/2018 1,000,000.00 997,590.00 03/25/2019 998,260.00 (63.99) 2.375 2.680 A 240907004 LC-RCTC Toll Revenue: - I-15 22546QAN7 Corporate Credit Suisse AG 05/28/2019 07/26/2017 1,000,000.00 1,009,340.00 --- 996,880.00 (6,563.42) 2.300 2.773 A 240907004 LC-RCTC Toll Revenue: - I-15 89114QAS7 Corporate The Toronto-Dominion Bank 07/02/2019 07/27/2017 1,000,000.00 1,007,670.00 --- 995,620.00 (7,453.57) 2.125 2.708 AA 240907004 LC-RCTC Toll Revenue: - I-15 90261XHE5 Corporate UBS AG 08/14/2019 07/25/2017 850,000.00 857,505.50 --- 846,515.00 (6,760.17) 2.375 2.849 AA 240907004 LC-RCTC Toll Revenue: - I-15 40428HPN6 Corporate HSBC USA Inc. 11/13/2019 07/26/2017 1,000,000.00 1,010,720.00 --- 993,380.00 (11,976.89) 2.375 2.976 A 240907004 LC-RCTC Toll Revenue: - I-15 17401QAB7 Corporate Citizens Bank, National Association 12/04/2019 07/26/2017 1,000,000.00 1,008,450.00 11/04/2019 993,160.00 (11,022.54) 2.450 3.041 A 240907004 LC-RCTC Toll Revenue: - I-15 46625HKA7 Corporate JPMorgan Chase & Co. 01/23/2020 07/25/2017 500,000.00 503,005.00 12/23/2019 494,885.00 (6,688.50) 2.250 3.045 A 240907004 LC-RCTC Toll Revenue: - I-15 61747YDW2 Corporate Morgan Stanley 01/27/2020 07/25/2017 500,000.00 506,130.00 --- 496,795.00 (6,526.61) 2.650 3.144 A 240907004 LC-RCTC Toll Revenue: - I-15 780082AA1 Corporate Royal Bank of Canada 02/05/2020 07/26/2017 1,500,000.00 1,497,390.00 --- 1,476,900.00 (21,675.17) 1.875 3.045 AAA 240907004 LC-RCTC Toll Revenue: - I-15 172967JJ1 Corporate Citigroup Inc. 02/18/2020 07/25/2017 500,000.00 503,600.00 --- 495,260.00 (6,731.86) 2.400 3.101 BBB

15 Page 12 of 32 2017 Financing STAMP Portfolio by Investment Category for quarter ended September 30, 2018

78,014,732.10 84,348,115.95 83,507,224.36 (302,255.47)

16 Page 13 of 32 ATTACHMENT 9

2017 Financing STAMP Portfolio by Account for quarter ended September 30, 2018

Base Net Total Source Security Type Current Face Next Call Unrealized Summarized Account Account Identifier Category Issuer Final Maturity Trade Date Value Original Cost Date Base Market Value Gain/Loss Coupon Yield Credit Rating 240907004 LC-RCTC Toll Revenue: - I-15 3137AL6V6 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2018 12/01/2017 227,141.68 227,691.79 --- 226,760.08 (381.60) 2.323 2.511 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3137ANMN2 Agency CMO Federal Home Loan Mortgage Corporation 12/25/2018 --- 666,568.64 666,115.76 --- 203,486.57 (206.76) 2.220 2.458 AAA 240907004 LC-RCTC Toll Revenue: - I-15 31398E2E3 Agency CMO Federal Home Loan Mortgage Corporation 01/25/2019 01/03/2018 52,629.26 53,681.85 --- 52,661.37 (146.80) 5.053 2.457 AAA 240907004 LC-RCTC Toll Revenue: - I-15 31397Q4Q8 Agency CMO Federal National Mortgage Association, Inc. 03/25/2035 01/10/2018 141,656.53 142,851.76 --- 141,775.52 (112.41) 4.000 2.223 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3137FBUW4 Agency CMO Federal Home Loan Mortgage Corporation 10/25/2019 01/23/2018 830,000.00 830,389.06 --- 830,091.30 (1,441.35) 2.281 2.490 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3137B2GW4 Agency MBS Federal Home Loan Mortgage Corporation 03/25/2020 06/29/2018 588,386.39 584,571.08 --- 583,549.86 (1,459.75) 2.313 2.863 AAA 240907004 LC-RCTC Toll Revenue: - I-15 3136AK2A0 Agency MBS Federal National Mortgage Association, Inc. 09/25/2019 01/08/2018 221,390.54 221,053.53 --- 219,889.51 (1,196.39) 2.171 2.955 AAA 240907004 LC-RCTC Toll Revenue: - I-15 31381S5E8 Agency MBS Federal National Mortgage Association, Inc. 12/01/2018 12/01/2017 438,823.01 440,537.16 --- 438,134.06 (449.10) 2.640 2.568 AAA 240907004 LC-RCTC Toll Revenue: - I-15 36225B5Y0 Agency MBS Government National Mortgage Association 06/15/2019 12/21/2017 9,216.88 9,320.58 --- 9,216.42 (16.70) 5.500 3.864 AAA 240907004 LC-RCTC Toll Revenue: - I-15 05522RCQ9 Asset Backed BA Credit Card Trust 01/15/2019 03/21/2018 1,100,000.00 1,102,406.25 --- 1,101,100.00 (115.74) 2.538 2.300 AAA 240907004 LC-RCTC Toll Revenue: - I-15 02582JGN4 Asset Backed American Express Credit Account Master Trust 05/15/2019 01/16/2018 252,000.00 252,885.94 --- 252,488.88 (154.67) 2.528 2.322 AAA 240907004 LC-RCTC Toll Revenue: - I-15 89236WAD0 Asset Backed Toyota Auto Receivables 2015-A Owner Trust 06/15/2020 01/19/2018 223,674.14 223,071.26 --- 223,327.44 (102.96) 1.520 2.156 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65478AAD5 Asset Backed Nissan Auto Receivables 2015-C Owner Trust 05/15/2020 12/21/2017 344,108.66 342,966.12 --- 342,904.28 (584.18) 1.370 2.416 AAA 240907004 LC-RCTC Toll Revenue: - I-15 43814LAC3 Asset Backed Honda Auto Receivables 2015-4 Owner Trust 09/23/2019 07/24/2017 0.02 0.02 --- 0.02 (0.00) 1.230 1.903 AAA 240907004 LC-RCTC Toll Revenue: - I-15 05522RCV8 Asset Backed BA Credit Card Trust 05/15/2019 06/29/2018 750,000.00 751,611.33 --- 751,485.00 226.59 2.548 2.336 AAA 240907004 LC-RCTC Toll Revenue: - I-15 161571HC1 Asset Backed Chase Issuance Trust 06/17/2019 --- 763,000.00 758,373.05 --- 755,720.98 (5,455.83) 1.370 2.726 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65477XAE4 Asset Backed Nissan Auto Lease Trust 2016-B 01/18/2022 04/13/2018 405,000.00 401,741.02 --- 403,776.90 121.16 1.610 2.558 AAA 240907004 LC-RCTC Toll Revenue: - I-15 05582XAD4 Asset Backed Bmw Vehicle Lease Trust 2016-2 09/20/2019 07/27/2017 579,883.03 578,682.49 --- 578,270.96 (1,407.20) 1.430 2.723 AAA 240907004 LC-RCTC Toll Revenue: - I-15 58768MAC5 Asset Backed Mercedes-Benz Auto Lease Trust 2016-B 08/15/2019 --- 683,403.04 681,459.93 --- 682,220.75 (870.83) 1.350 2.653 AAA 240907004 LC-RCTC Toll Revenue: - I-15 90290XAD9 Asset Backed USAA Auto Owner Trust 2005-1 11/16/2020 03/22/2018 0.01 0.01 --- 0.01 (0.00) 1.540 1.664 AAA 240907004 LC-RCTC Toll Revenue: - I-15 161571HJ6 Asset Backed Chase Issuance Trust 01/15/2020 03/23/2018 500,000.00 501,347.66 --- 501,490.00 212.20 2.458 2.320 AAA 240907004 LC-RCTC Toll Revenue: - I-15 02587AAJ3 Asset Backed American Express Credit Account Master Trust 02/18/2020 06/29/2018 650,000.00 640,351.56 --- 640,991.00 (783.73) 1.930 2.968 AAA 240907004 LC-RCTC Toll Revenue: - I-15 58769DAD2 Asset Backed Mercedes-Benz Auto Lease Trust 2017-A 03/16/2020 07/27/2017 965,000.00 965,942.38 --- 961,043.50 (4,177.58) 1.790 2.713 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65479AAD4 Asset Backed Nissan Auto Lease Trust 2017-A 04/15/2020 01/25/2018 850,000.00 846,115.23 --- 845,010.50 (3,017.77) 1.910 2.785 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65478GAC4 Asset Backed Nissan Auto Receivables 2017-B Owner Trust 05/15/2020 06/29/2018 403,004.78 402,926.07 --- 403,004.78 0.28 2.258 2.394 AAA 240907004 LC-RCTC Toll Revenue: - I-15 65478DAD9 Asset Backed Nissan Auto Receivables 2018-A Owner Trust 05/16/2022 06/29/2018 600,000.00 596,906.25 --- 595,992.00 (1,225.98) 2.650 2.998 AAA 240907004 LC-RCTC Toll Revenue: - I-15 47788CAA0 Asset Backed John Deere Owner Trust 2018 03/15/2019 02/21/2018 472,280.81 472,280.81 --- 472,167.46 (113.35) 1.950 2.269 AAA 240907004 LC-RCTC Toll Revenue: - I-15 55379WKQ8 CD MUFG Bank, Ltd. 10/15/2018 09/26/2018 2,000,000.00 1,999,898.44 --- 1,999,900.00 (25.17) 2.110 2.216 AAA 240907004 LC-RCTC Toll Revenue: - I-15 46625HHL7 Corporate JPMorgan Chase & Co. 04/23/2019 07/25/2017 1,000,000.00 1,075,520.00 --- 1,019,800.00 (5,254.32) 6.300 2.767 A 240907004 LC-RCTC Toll Revenue: - I-15 38141EA58 Corporate The Goldman Sachs Group, Inc. 03/15/2020 07/26/2017 500,000.00 540,800.00 --- 515,395.00 (7,729.73) 5.375 3.204 A 240907004 LC-RCTC Toll Revenue: - I-15 78011DAF1 Corporate Royal Bank of Canada 10/01/2018 08/08/2018 850,000.00 849,566.50 --- 850,000.00 - 2.000 1.981 AAA 240907004 LC-RCTC Toll Revenue: - I-15 718172BF5 Corporate Philip Morris International Inc. 01/15/2019 07/26/2017 1,000,000.00 1,003,040.00 --- 998,080.00 (2,536.54) 1.875 2.516 A 240907004 LC-RCTC Toll Revenue: - I-15 61746BDM5 Corporate Morgan Stanley 01/24/2019 --- 1,500,000.00 1,508,405.00 --- 1,499,145.00 (2,450.26) 2.500 2.667 A 240907004 LC-RCTC Toll Revenue: - I-15 0258M0DK2 Corporate American Express Credit Corporation 03/18/2019 07/25/2017 1,000,000.00 1,006,560.00 --- 997,820.00 (4,093.02) 2.125 2.591 A 240907004 LC-RCTC Toll Revenue: - I-15 172967HM6 Corporate Citigroup Inc. 04/08/2019 07/25/2017 1,000,000.00 1,010,110.00 --- 998,960.00 (4,232.72) 2.550 2.749 BBB 240907004 LC-RCTC Toll Revenue: - I-15 31677QBB4 Corporate Fifth Third Bank 04/25/2019 06/29/2018 1,000,000.00 997,590.00 03/25/2019 998,260.00 (63.99) 2.375 2.680 A 240907004 LC-RCTC Toll Revenue: - I-15 22546QAN7 Corporate Credit Suisse AG 05/28/2019 07/26/2017 1,000,000.00 1,009,340.00 --- 996,880.00 (6,563.42) 2.300 2.773 A 240907004 LC-RCTC Toll Revenue: - I-15 89114QAS7 Corporate The Toronto-Dominion Bank 07/02/2019 07/27/2017 1,000,000.00 1,007,670.00 --- 995,620.00 (7,453.57) 2.125 2.708 AA 240907004 LC-RCTC Toll Revenue: - I-15 90261XHE5 Corporate UBS AG 08/14/2019 07/25/2017 850,000.00 857,505.50 --- 846,515.00 (6,760.17) 2.375 2.849 AA 240907004 LC-RCTC Toll Revenue: - I-15 40428HPN6 Corporate HSBC USA Inc. 11/13/2019 07/26/2017 1,000,000.00 1,010,720.00 --- 993,380.00 (11,976.89) 2.375 2.976 A 240907004 LC-RCTC Toll Revenue: - I-15 17401QAB7 Corporate Citizens Bank, National Association 12/04/2019 07/26/2017 1,000,000.00 1,008,450.00 11/04/2019 993,160.00 (11,022.54) 2.450 3.041 A 240907004 LC-RCTC Toll Revenue: - I-15 46625HKA7 Corporate JPMorgan Chase & Co. 01/23/2020 07/25/2017 500,000.00 503,005.00 12/23/2019 494,885.00 (6,688.50) 2.250 3.045 A 240907004 LC-RCTC Toll Revenue: - I-15 61747YDW2 Corporate Morgan Stanley 01/27/2020 07/25/2017 500,000.00 506,130.00 --- 496,795.00 (6,526.61) 2.650 3.144 A 240907004 LC-RCTC Toll Revenue: - I-15 780082AA1 Corporate Royal Bank of Canada 02/05/2020 07/26/2017 1,500,000.00 1,497,390.00 --- 1,476,900.00 (21,675.17) 1.875 3.045 AAA 240907004 LC-RCTC Toll Revenue: - I-15 172967JJ1 Corporate Citigroup Inc. 02/18/2020 07/25/2017 500,000.00 503,600.00 --- 495,260.00 (6,731.86) 2.400 3.101 BBB 240907004 LC-RCTC Toll Revenue: - I-15 06051GFN4 Corporate Bank of America Corporation 04/21/2020 12/04/2017 1,000,000.00 997,850.00 --- 987,220.00 (11,367.59) 2.250 3.093 A 240907004 LC-RCTC Toll Revenue: - I-15 064159HC3 Corporate The Bank of Nova Scotia 01/15/2019 01/23/2018 400,000.00 399,504.00 --- 399,308.00 (544.65) 1.950 2.526 AA 240907004 LC-RCTC Toll Revenue: - I-15 89114QBE7 Corporate The Toronto-Dominion Bank 01/22/2019 01/23/2018 370,000.00 369,463.50 --- 369,345.10 (488.02) 1.950 2.504 AA 240907004 LC-RCTC Toll Revenue: - I-15 69353REV6 Corporate PNC Bank, National Association 03/04/2019 07/26/2017 1,000,000.00 1,003,210.00 02/02/2019 997,260.00 (3,479.05) 1.950 2.586 A 240907004 LC-RCTC Toll Revenue: - I-15 07330NAL9 Corporate Branch Banking and Trust Company 05/10/2019 07/27/2017 1,000,000.00 995,340.00 04/10/2019 993,080.00 (5,289.51) 1.450 2.587 A 240907004 LC-RCTC Toll Revenue: - I-15 49327M2P8 Corporate KeyBank National Association 08/22/2019 07/24/2017 1,000,000.00 995,550.00 --- 989,260.00 (8,773.69) 1.600 2.816 A 240907004 LC-RCTC Toll Revenue: - I-15 24422ETJ8 Corporate John Deere Capital Corporation 10/09/2019 07/26/2017 1,125,000.00 1,114,650.00 --- 1,106,887.50 (13,187.83) 1.250 2.846 A 240907004 LC-RCTC Toll Revenue: - I-15 17275RBG6 Corporate Cisco Systems, Inc. 09/20/2019 06/29/2018 1,050,000.00 1,035,184.50 --- 1,036,287.00 (1,853.33) 1.400 2.763 AA 240907004 LC-RCTC Toll Revenue: - I-15 06367TPX2 Corporate Bank of Montreal 12/12/2019 07/26/2017 1,000,000.00 1,005,160.00 --- 990,450.00 (12,219.43) 2.100 2.910 AA 240907004 LC-RCTC Toll Revenue: - I-15 14912L6Y2 Corporate Caterpillar Financial Services Corporation 01/10/2020 07/26/2017 1,000,000.00 1,008,020.00 --- 989,270.00 (14,998.44) 2.100 2.957 A 240907004 LC-RCTC Toll Revenue: - I-15 0258M0EE5 Corporate American Express Credit Corporation 03/03/2020 07/25/2017 500,000.00 503,990.00 02/01/2020 494,400.00 (7,773.44) 2.200 3.005 A 240907004 LC-RCTC Toll Revenue: - I-15 375558BQ5 Corporate Gilead Sciences, Inc. 09/20/2019 --- 1,495,000.00 1,496,206.00 --- 1,496,779.05 817.51 2.588 2.508 A 240907004 LC-RCTC Toll Revenue: - I-15 87019SKV5 CP Swedbank AB 10/29/2018 09/17/2018 2,000,000.00 1,995,053.34 --- 1,996,460.00 (242.23) 0.000 2.137 AAA 240907004 LC-RCTC Toll Revenue: - I-15 64105SK15 CP Nestle Finance International Ltd. 10/01/2018 09/17/2018 1,900,000.00 1,898,544.39 --- 1,900,000.00 - 0.000 0.000 AAA 240907004 LC-RCTC Toll Revenue: - I-15 26055BK94 CP The Dow Chemical Company 10/09/2018 09/26/2018 1,350,000.00 1,348,893.38 --- 1,349,325.00 6.00 0.000 1.809 AA 240907004 LC-RCTC Toll Revenue: - I-15 07274MKK0 CP Bayerische Landesbank 10/19/2018 09/28/2018 1,000,000.00 998,658.33 --- 998,870.00 20.00 0.000 2.046 AAA 240907004 LC-RCTC Toll Revenue: - I-15 50000EK29 CP Koch Industries, Inc. 10/02/2018 09/11/2018 1,025,000.00 1,023,786.23 --- 1,024,938.50 (3.70) 0.000 0.721 AAA 240907004 LC-RCTC Toll Revenue: - I-15 43357MKJ8 CP Hitachi Capital America Corp. 10/18/2018 09/17/2018 2,000,000.00 1,995,952.78 --- 1,997,860.00 79.44 0.000 2.039 AA 240907004 LC-RCTC Toll Revenue: - I-15 78355BKH4 CP Ryder System, Inc. 10/17/2018 09/17/2018 2,000,000.00 1,996,250.00 --- 1,997,980.00 (20.00) 0.000 2.031 AA 240907004 LC-RCTC Toll Revenue: - I-15 71112KK42 CP The Peoples Gas Light And Coke Company 10/04/2018 --- 1,625,000.00 1,623,805.89 --- 1,624,691.25 (1.58) 0.000 1.373 AAA 240907004 LC-RCTC Toll Revenue: - I-15 63743DKH3 CP National Rural Utilities Cooperative Finance Corporation 10/17/2018 09/27/2018 2,000,000.00 1,997,611.12 --- 1,997,980.00 (108.90) 0.000 2.031 AAA 240907004 LC-RCTC Toll Revenue: - I-15 92780KKX5 CP Virginia Electric and Power Company 10/31/2018 09/28/2018 2,000,000.00 1,995,545.00 --- 1,996,220.00 270.00 0.000 2.140 AAA 240907004 LC-RCTC Toll Revenue: - I-15 CCYUSD Currency UNITED STATES OF AMERICA 09/30/2018 --- - 5,000,000.00 --- 5,000,000.00 - 0.000 0.000 AAA 240907004 LC-RCTC Toll Revenue: - I-15 31846V203 MM Fund First American Funds, Inc. 09/30/2018 09/26/2018 - 718,035.82 --- 718,035.82 - 1.730 1.680 AAA 240907004 LC-RCTC Toll Revenue: - I-15 70914PPD8 Muni Pennsylvania, Commonwealth of 07/15/2019 09/18/2018 305,000.00 308,080.50 --- 307,958.50 (10.45) 4.050 2.807 AA 240907004 LC-RCTC Toll Revenue: - I-15 392274A89 Muni Greater Orlando Aviation Authority. 10/01/2019 07/26/2017 700,000.00 724,094.00 --- 702,968.00 (8,390.62) 3.483 3.053 AA 240907004 LC-RCTC Toll Revenue: - I-15 355185PF0 Muni Franklin, City of 03/01/2019 04/18/2018 375,000.00 375,000.00 12/01/2018 374,917.50 (82.50) 2.500 2.515 AA 240907004 LC-RCTC Toll Revenue: - I-15 459058GK3 Non-US Gov International Bank for Reconstruction and Development 08/21/2020 --- 1,210,000.00 1,210,259.00 --- 1,210,217.80 (34.15) 2.380 2.406 AAA 240907004 LC-RCTC Toll Revenue: - I-15 912828UF5 US Gov Treasury, United States Department of 12/31/2019 06/29/2018 3,700,000.00 3,627,156.25 --- 3,628,183.00 (11,205.82) 1.125 2.707 AAA 240907004 LC-RCTC Toll Revenue: - I-15 912828P53 US Gov Treasury, United States Department of 02/15/2019 07/16/2018 2,440,000.00 2,419,221.88 --- 2,425,408.80 (1,249.51) 0.750 2.334 AAA 240907004 LC-RCTC Toll Revenue: - I-15 97689P2K3 VRDN Wisconsin Housing and Economic Development Authority 09/01/2037 07/02/2018 1,400,000.00 1,400,000.00 10/30/2018 1,400,000.00 - 2.050 2.050 AA 240907004 LC-RCTC Toll Revenue: - I-15 64986U4H7 VRDN New York State Housing Finance Agency 11/01/2048 07/02/2018 1,400,000.00 1,400,000.00 10/15/2018 1,400,000.00 - 2.000 2.000 AA 240907004 LC-RCTC Toll Revenue: - I-15 196479YN3 VRDN Colorado Housing and Finance Authority 10/01/2038 07/02/2018 750,000.00 750,000.00 10/15/2018 750,000.00 - 2.020 2.020 AAA 70,537,167.42 76,320,656.29 75,534,874.97 (234,776.39)

240907020 RCTC I-15 Prj RAMP UP RESERVE 3130AECJ7 Agency Federal Home Loan Banks 05/28/2020 07/03/2018 350,000.00 350,150.50 --- 349,013.00 (1,122.07) 2.625 2.798 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3134GSTK1 Agency Federal Home Loan Mortgage Corporation 08/23/2021 08/27/2018 150,000.00 150,075.00 11/23/2018 150,001.50 (44.19) 3.000 2.989 AAA 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137ANMN2 Agency CMO Federal Home Loan Mortgage Corporation 12/25/2018 12/05/2017 1,164,877.24 1,167,269.89 --- 1,162,780.46 (1,037.94) 2.220 2.458 AAA

17 Page 14 of 32 2017 Financing STAMP Portfolio by Account for quarter ended September 30, 2018

245490001 LC-RCTC 2017 PRJ: Sales Tax 9AMMF05B2 MM Fund U.S. Bank Money Market Account Fund 09/30/2018 09/26/2018 - 960.73 --- 960.73 - 0.200 0.000 NA

18 Page 15 of 32 ATTACHMENT 10

2017 Financing STAMP Portfolio Transaction Report by Account Quarter ended September 30, 2018

Base Base Change In Net Source Beginning Base Base Maturities and Net Total Realized Amortization/Ac Unrealized Ending Base Ending Accrued Account Account Identifier Description Market Value Base Purchases Base Sales Redemptions Base Paydowns Gain/Loss cretion Gain/Loss Market Value Income Balance 240907004 LC-RCTC Toll Revenue: - I-15 38141EA25 GOLDMAN SACHS GROUP INC 1,027,620.00 - (1,019,750.00) - - (1,805.86) (13,504.16) 7,440.02 - - 240907004 LC-RCTC Toll Revenue: - I-15 46625HHL7 JPMORGAN CHASE & CO 1,028,130.00 - - - - - (11,155.13) 2,825.13 1,019,800.00 27,650.00 240907004 LC-RCTC Toll Revenue: - I-15 38141EA58 GOLDMAN SACHS GROUP INC 517,870.00 - - - - - (3,904.97) 1,429.97 515,395.00 1,194.44 240907004 LC-RCTC Toll Revenue: - I-15 392274A89 GREATER ORLANDO AVIATION AUTH ORLANDO FLA ARPT FAC 705,306.00 - - - - - (2,816.23) 478.23 702,968.00 12,190.50 240907004 LC-RCTC Toll Revenue: - I-15 61746BDM5 MORGAN STANLEY 998,420.00 - - - - - (1,570.57) 2,580.57 999,430.00 4,652.78 240907004 LC-RCTC Toll Revenue: - I-15 172967HM6 CITIGROUP INC 998,290.00 - - - - - (1,531.72) 2,201.72 998,960.00 12,254.17 240907004 LC-RCTC Toll Revenue: - I-15 74432QBW4 PRUDENTIAL FINANCIAL INC 1,499,580.00 - - (1,500,000.00) - - (1,340.89) 1,760.89 - - 240907004 LC-RCTC Toll Revenue: - I-15 22546QAN7 CREDIT SUISSE AG (NEW YORK BRANCH) 995,190.00 - - - - - (1,300.32) 2,990.32 996,880.00 7,858.33 240907004 LC-RCTC Toll Revenue: - I-15 40428HPN6 HSBC USA INC (NEW) 990,200.00 - - - - - (1,184.05) 4,364.05 993,380.00 9,038.19 240907004 LC-RCTC Toll Revenue: - I-15 0258M0DK2 AMERICAN EXPRESS CREDIT CORP 996,160.00 - - - - - (1,025.44) 2,685.44 997,820.00 767.36 240907004 LC-RCTC Toll Revenue: - I-15 89114QAS7 TORONTO-DOMINION BANK 994,070.00 - - - - - (1,015.14) 2,565.14 995,620.00 5,253.47 240907004 LC-RCTC Toll Revenue: - I-15 17401QAB7 CITIZENS BANK NA 990,820.00 - - - - - (949.50) 3,289.50 993,160.00 7,962.50 240907004 LC-RCTC Toll Revenue: - I-15 90261XHE5 UBS AG (STAMFORD BRANCH) 844,687.50 - - - - - (939.51) 2,767.01 846,515.00 2,635.59 240907004 LC-RCTC Toll Revenue: - I-15 14912L6Y2 CATERPILLAR FINANCIAL SERVICES CORP 989,510.00 - - - - - (829.32) 589.32 989,270.00 4,725.00 240907004 LC-RCTC Toll Revenue: - I-15 05522RCQ9 BACCT 141 A 1,101,760.00 - - - - - (669.24) 9.24 1,101,100.00 1,085.89 240907004 LC-RCTC Toll Revenue: - I-15 61747YDW2 MORGAN STANLEY 496,370.00 - - - - - (622.24) 1,047.24 496,795.00 2,355.56 240907004 LC-RCTC Toll Revenue: - I-15 06367TPX2 BANK OF MONTREAL 988,100.00 - - - - - (554.18) 2,904.18 990,450.00 6,358.33 240907004 LC-RCTC Toll Revenue: - I-15 69353REV6 PNC BANK NA 994,510.00 - - - - - (546.17) 3,296.17 997,260.00 1,462.50 240907004 LC-RCTC Toll Revenue: - I-15 718172BF5 PHILIP MORRIS INTERNATIONAL INC 995,530.00 - - - - - (535.78) 3,085.78 998,080.00 3,958.33 240907004 LC-RCTC Toll Revenue: - I-15 31381S5E8 FN 469845 440,792.88 - - - (2,570.16) (0.85) (528.35) 440.55 438,134.06 965.41 240907004 LC-RCTC Toll Revenue: - I-15 0258M0EE5 AMERICAN EXPRESS CREDIT CORP 493,440.00 - - - - - (402.49) 1,362.49 494,400.00 855.56 240907004 LC-RCTC Toll Revenue: - I-15 31397Q4Q8 FNR 10155B JA 272,927.76 - - - (130,227.20) (413.29) (401.20) (110.54) 141,775.52 472.19 240907004 LC-RCTC Toll Revenue: - I-15 31398E2E3 FHMS K003 A4 81,582.13 - - - (30,297.55) 1,668.13 (384.70) 93.36 52,661.37 221.61 240907004 LC-RCTC Toll Revenue: - I-15 94973VBE6 ANTHEM INC 1,499,805.00 - - (1,500,000.00) - - (378.95) 573.95 - - 240907004 LC-RCTC Toll Revenue: - I-15 172967JJ1 CITIGROUP INC 493,625.00 - - - - - (357.75) 1,992.75 495,260.00 1,433.33 240907004 LC-RCTC Toll Revenue: - I-15 05522RCV8 BACCT 161 A 751,575.00 - - - - - (352.92) 262.92 751,485.00 743.30 240907004 LC-RCTC Toll Revenue: - I-15 46625HKA7 JPMORGAN CHASE & CO 493,570.00 - - - - - (317.11) 1,632.11 494,885.00 2,125.00 240907004 LC-RCTC Toll Revenue: - I-15 375558BQ5 GILEAD SCIENCES INC 900,882.00 - - - - - (244.46) 433.46 901,071.00 711.56 240907004 LC-RCTC Toll Revenue: - I-15 3137ANMN2 FHMS K707 A2 314,316.45 - - - (111,146.49) 55.16 (187.17) 448.63 203,486.58 377.13 240907004 LC-RCTC Toll Revenue: - I-15 58769DAD2 MBALT 17A A3 959,161.75 - - - - - (158.82) 2,040.57 961,043.50 767.71 240907004 LC-RCTC Toll Revenue: - I-15 02582JGN4 AMXCA 141 A 252,630.00 - - - - - (143.28) 2.16 252,488.88 247.79 240907004 LC-RCTC Toll Revenue: - I-15 70914PPD8 PENNSYLVANIA (COMMONWEALTH OF) - 308,080.50 - - - - (111.55) (10.45) 307,958.50 2,607.75 240907004 LC-RCTC Toll Revenue: - I-15 3137AL6V6 FHMS K706 A2 657,394.44 - - - (431,840.91) 230.78 (85.73) 1,061.50 226,760.08 439.71 240907004 LC-RCTC Toll Revenue: - I-15 36225B5Y0 GN 781763 32,820.38 - - - (23,509.26) (102.94) (64.51) 72.74 9,216.42 42.24 240907004 LC-RCTC Toll Revenue: - I-15 161571HJ6 CHAIT 171 A 501,140.00 - - - - - (33.47) 383.47 501,490.00 478.03 240907004 LC-RCTC Toll Revenue: - I-15 47787UAE3 JDOT 15 A4 729,706.86 - - - (729,962.35) (35.63) (7.96) 299.08 - - 240907004 LC-RCTC Toll Revenue: - I-15 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM - 185,074.00 - - - - (4.15) (36.55) 185,033.30 457.77 240907004 LC-RCTC Toll Revenue: - I-15 3136AK2A0 FNA 14M10 AS2 220,945.19 - - - (1,349.94) 1.86 (3.96) 296.36 219,889.51 400.60 240907004 LC-RCTC Toll Revenue: - I-15 3137B6ZL8 FHMS K714 A1 88,283.95 - - - (88,574.47) 101.31 (3.74) 192.95 - - 240907004 LC-RCTC Toll Revenue: - I-15 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM - 500,185.00 - - - - (2.90) (92.10) 500,090.00 1,237.22 240907004 LC-RCTC Toll Revenue: - I-15 31398NG99 FNR 10112H AE ------(0.00) 0.00 - - 240907004 LC-RCTC Toll Revenue: - I-15 31846V203 FIRST AMER:GVT OBLG Y 4,977,553.72 138,976,450.27 (143,235,968.17) - - - - - 718,035.82 - 240907004 LC-RCTC Toll Revenue: - I-15 CCYUSD Receivable 6,598,581.28 ------5,000,000.00 - 240907004 LC-RCTC Toll Revenue: - I-15 97689P2K3 WISCONSIN HSG & ECONOMIC DEV AUTH HOME OWNERSHIP R - 1,400,000.00 ------1,400,000.00 2,063.06 240907004 LC-RCTC Toll Revenue: - I-15 3137A7NT3 FHMS K011 A1 2,630.39 - - - (2,634.47) (0.00) - 4.08 - - 240907004 LC-RCTC Toll Revenue: - I-15 3137B2GW4 FHMS K713 A2 586,886.84 (587,730.19) - - - - - 843.35 - - 240907004 LC-RCTC Toll Revenue: - I-15 64986U4H7 NEW YORK ST HSG FIN AGY REV - 1,400,000.00 ------1,400,000.00 1,962.30 240907004 LC-RCTC Toll Revenue: - I-15 196479YN3 COLORADO HSG & FIN AUTH - 750,000.00 ------750,000.00 7,028.22 240907004 LC-RCTC Toll Revenue: - I-15 375558BQ5 GILEAD SCIENCES INC 595,583.10 ------124.95 595,708.05 470.42 240907004 LC-RCTC Toll Revenue: - I-15 54438CWT5 LOS ANGELES CALIF CMNTY COLLEGE DIST 544,809.25 - - (545,000.00) - - - 190.75 - - 240907004 LC-RCTC Toll Revenue: - I-15 73358WT46 PORT AUTH N Y & N J 219,755.80 - - (220,000.00) - - - 244.20 - - 240907004 LC-RCTC Toll Revenue: - I-15 47788CAA0 JDOT 2018 A1 1,177,504.06 - - - (705,930.20) 0.02 - 593.58 472,167.46 358.15 240907004 LC-RCTC Toll Revenue: - I-15 355185PF0 FRANKLIN WIS 374,771.25 ------146.25 374,917.50 781.25 240907004 LC-RCTC Toll Revenue: - I-15 459058GK3 INTERNATIONAL BANK FOR RECONSTRUCTION AND DEVELOPM - 525,000.00 - - - - - 94.50 525,094.50 1,299.08 240907004 LC-RCTC Toll Revenue: - I-15 31398E2E3 FHMS K003 A4 1,542.85 - - - - - 2.88 8.60 - - 240907004 LC-RCTC Toll Revenue: - I-15 05581RAD8 BMWLT 161 A3 21,726.48 - - - (21,739.51) (0.02) 5.61 7.44 - - 240907004 LC-RCTC Toll Revenue: - I-15 65477UAC4 NAROT 15A A3 54,267.63 - - - (54,327.93) 22.04 8.12 30.14 - - 240907004 LC-RCTC Toll Revenue: - I-15 3137AKKC4 FHMS K705 A2 144,226.41 - - - (144,500.96) 54.55 18.10 201.91 - - 240907004 LC-RCTC Toll Revenue: - I-15 55379WKQ8 MUFG Bank, Ltd. - 1,999,898.44 - - - - 26.73 (25.17) 1,999,900.00 6,330.00 240907004 LC-RCTC Toll Revenue: - I-15 161571HC1 CHAIT 162 A 12,837.76 - - - - - 38.71 (0.49) 12,875.98 7.92 240907004 LC-RCTC Toll Revenue: - I-15 22533UG23 Credit Agricole Corporate and Investment Bank 1,075,000.00 - - (1,075,000.00) - - 55.24 (55.24) - - 240907004 LC-RCTC Toll Revenue: - I-15 22533UH14 Credit Agricole Corporate and Investment Bank - 1,399,927.28 - (1,400,000.00) - - 72.72 - - - 240907004 LC-RCTC Toll Revenue: - I-15 46640QG21 J.P. Morgan Securities LLC 1,400,000.00 - - (1,400,000.00) - - 73.89 (73.89) - - 240907004 LC-RCTC Toll Revenue: - I-15 14912EH18 Caterpillar Financial Services Corporation - 1,399,926.11 - (1,400,000.00) - - 73.89 - - - 240907004 LC-RCTC Toll Revenue: - I-15 89236WAD0 TAOT 15A A4 403,713.43 - - - (181,079.52) 189.14 79.81 424.58 223,327.44 151.10 240907004 LC-RCTC Toll Revenue: - I-15 65478GAC4 NAROT 17B A2B 572,369.13 (0.00) - - (169,364.35) 30.84 80.66 (111.50) 403,004.78 353.95 240907004 LC-RCTC Toll Revenue: - I-15 04056BG20 Arizona Public Service Company 1,400,000.00 - - (1,400,000.00) - - 82.45 (82.45) - - 240907004 LC-RCTC Toll Revenue: - I-15 161571HA5 CHAIT 157 A 1,499,535.00 - - - (1,500,000.00) - 101.10 363.90 - - 240907004 LC-RCTC Toll Revenue: - I-15 43814LAC3 HAROT 154 A3 520,310.66 - (261,948.86) - (259,950.98) 6.46 116.82 1,465.92 0.02 - 240907004 LC-RCTC Toll Revenue: - I-15 064159HC3 BANK OF NOVA SCOTIA 398,548.00 - - - - - 128.10 631.90 399,308.00 1,646.67 240907004 LC-RCTC Toll Revenue: - I-15 89114QBE7 TORONTO-DOMINION BANK 368,508.90 - - - - - 136.09 700.11 369,345.10 1,382.88 240907004 LC-RCTC Toll Revenue: - I-15 71112KK42 The Peoples Gas Light And Coke Company - 424,780.89 - - - - 136.94 1.42 424,919.25 - 240907004 LC-RCTC Toll Revenue: - I-15 90290XAD9 USAOT 151 A4 566,223.91 - (456,178.61) - (110,554.64) 1,131.38 160.36 (782.40) 0.01 - 240907004 LC-RCTC Toll Revenue: - I-15 05582XAD4 BMWLT 162 A3 878,262.85 - - - (301,827.31) 132.04 165.06 1,538.31 578,270.96 253.38 240907004 LC-RCTC Toll Revenue: - I-15 58768MAC5 MBALT 16B A3 777,696.34 - - - (351,309.62) 137.57 172.07 1,296.58 427,992.94 257.24 240907004 LC-RCTC Toll Revenue: - I-15 07274MKK0 Bayerische Landesbank - 998,658.33 - - - - 191.67 20.00 998,870.00 - 240907004 LC-RCTC Toll Revenue: - I-15 58768MAC5 MBALT 16B A3 461,951.63 - - - (208,677.92) 227.24 215.99 510.86 254,227.81 152.80 240907004 LC-RCTC Toll Revenue: - I-15 06051GFN4 BANK OF AMERICA CORP 986,280.00 - - - - - 223.28 716.72 987,220.00 10,000.00 240907004 LC-RCTC Toll Revenue: - I-15 65478AAD5 NAROT 15C A3 499,302.31 - - - (157,632.10) 338.82 232.95 662.30 342,904.28 209.52 240907004 LC-RCTC Toll Revenue: - I-15 74456DGP4 Public Service Electric and Gas Company - 1,399,755.00 - (1,400,000.00) - - 245.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 23336KGP1 DTE Electric Company - 1,399,752.68 - (1,400,000.00) - - 247.32 - - - 240907004 LC-RCTC Toll Revenue: - I-15 04056BG53 Arizona Public Service Company - 1,399,751.50 - (1,400,000.00) - - 248.50 - - - 240907004 LC-RCTC Toll Revenue: - I-15 780082AA1 ROYAL BANK OF CANADA 1,476,375.00 - - - - - 262.64 262.36 1,476,900.00 4,375.00 240907004 LC-RCTC Toll Revenue: - I-15 61746BDM5 MORGAN STANLEY - 499,345.00 - - - - 290.56 79.44 499,715.00 2,326.39 240907004 LC-RCTC Toll Revenue: - I-15 07274MGQ2 Bayerische Landesbank - 1,399,688.89 - (1,400,000.00) - - 311.11 - - - 240907004 LC-RCTC Toll Revenue: - I-15 65478DAD9 NAROT 18A A3 596,814.00 - - - - - 311.73 (1,133.73) 595,992.00 706.67 240907004 LC-RCTC Toll Revenue: - I-15 313385B21 FEDERAL HOME LOAN BANKS - 799,672.89 - (800,000.00) - - 327.11 - - - 240907004 LC-RCTC Toll Revenue: - I-15 92780KKX5 Virginia Electric and Power Company - 1,995,545.00 - - - - 405.00 270.00 1,996,220.00 -

19 Page 16 of 32 2017 Financing STAMP Portfolio Transaction Report by Account Quarter ended September 30, 2018

Base Base Change In Net Source Beginning Base Base Maturities and Net Total Realized Amortization/Ac Unrealized Ending Base Ending Accrued Account Account Identifier Description Market Value Base Purchases Base Sales Redemptions Base Paydowns Gain/Loss cretion Gain/Loss Market Value Income Balance 240907004 LC-RCTC Toll Revenue: - I-15 313385ZU3 FEDERAL HOME LOAN BANKS - 3,999,593.32 - (4,000,000.00) - - 406.68 - - - 240907004 LC-RCTC Toll Revenue: - I-15 26055BK94 The Dow Chemical Company - 1,348,893.38 - - - - 425.62 6.00 1,349,325.00 - 240907004 LC-RCTC Toll Revenue: - I-15 78011DAF1 ROYAL BANK OF CANADA - 849,566.50 - - - - 433.50 - 850,000.00 8,500.00 240907004 LC-RCTC Toll Revenue: - I-15 3137B2GW4 FHMS K713 A2 - 586,647.28 - - (2,089.75) 12.80 439.27 (1,459.75) 583,549.86 1,134.11 240907004 LC-RCTC Toll Revenue: - I-15 3137FBUW4 FHMS KP04 AG2 830,000.00 - - - - - 446.73 (355.43) 830,091.30 315.59 240907004 LC-RCTC Toll Revenue: - I-15 78355BGA4 Ryder System, Inc. 799,632.00 - - (800,000.00) - - 450.00 (82.00) - - 240907004 LC-RCTC Toll Revenue: - I-15 14912EGP6 Caterpillar Financial Services Corporation - 1,399,542.66 - (1,400,000.00) - - 457.34 - - - 240907004 LC-RCTC Toll Revenue: - I-15 313385ZZ2 FEDERAL HOME LOAN BANKS - 899,537.50 - (900,000.00) - - 462.50 - - - 240907004 LC-RCTC Toll Revenue: - I-15 63743DKH3 National Rural Utilities Cooperative Finance Corpo - 1,997,611.12 - - - - 477.78 (108.90) 1,997,980.00 - 240907004 LC-RCTC Toll Revenue: - I-15 07274MH32 Bayerische Landesbank - 1,449,450.20 - (1,450,000.00) - - 549.80 - - - 240907004 LC-RCTC Toll Revenue: - I-15 49327M2P8 KEYBANK NA 985,260.00 - - - - - 551.01 3,448.99 989,260.00 1,733.33 240907004 LC-RCTC Toll Revenue: - I-15 04056BGQ7 Arizona Public Service Company - 1,399,425.61 - (1,400,000.00) - - 574.39 - - - 240907004 LC-RCTC Toll Revenue: - I-15 04056BGX2 Arizona Public Service Company - 1,424,418.13 - (1,425,000.00) - - 581.87 - - - 240907004 LC-RCTC Toll Revenue: - I-15 04056BGG9 Arizona Public Service Company - 1,399,417.45 - (1,400,000.00) - - 582.55 - - - 240907004 LC-RCTC Toll Revenue: - I-15 04056BH94 Arizona Public Service Company - 1,449,413.56 - (1,450,000.00) - - 586.44 - - - 240907004 LC-RCTC Toll Revenue: - I-15 313385ZN9 FEDERAL HOME LOAN BANKS - 1,699,405.00 - (1,700,000.00) - - 595.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 161571HC1 CHAIT 162 A 740,640.00 - - - - - 596.96 1,608.04 742,845.00 456.67 240907004 LC-RCTC Toll Revenue: - I-15 63743DG96 National Rural Utilities Cooperative Finance Corpo 1,399,440.00 - - (1,400,000.00) - - 616.00 (56.00) - - 240907004 LC-RCTC Toll Revenue: - I-15 14912EJR9 Caterpillar Financial Services Corporation - 1,399,359.11 - (1,400,000.00) - - 640.89 - - - 240907004 LC-RCTC Toll Revenue: - I-15 05916SH29 Baltimore Gas and Electric Company - 1,499,358.33 - (1,500,000.00) - - 641.67 - - - 240907004 LC-RCTC Toll Revenue: - I-15 23336KGL0 DTE Electric Company - 1,399,346.66 - (1,400,000.00) - - 653.34 - - - 240907004 LC-RCTC Toll Revenue: - I-15 07330NAL9 BRANCH BANKING AND TRUST CO 989,150.00 - - - - - 664.97 3,265.03 993,080.00 5,679.17 240907004 LC-RCTC Toll Revenue: - I-15 69372BGC8 PACCAR Financial Corp. - 1,399,335.00 - (1,400,000.00) - - 665.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 313385B21 FEDERAL HOME LOAN BANKS - 2,199,321.67 - (2,200,000.00) - - 678.33 - - - 240907004 LC-RCTC Toll Revenue: - I-15 65479AAD4 NALT 17A A3 842,962.00 - - - - - 711.91 1,336.59 845,010.50 721.56 240907004 LC-RCTC Toll Revenue: - I-15 31677QBB4 FIFTH THIRD BANK 996,060.00 - - - - - 733.99 1,466.01 998,260.00 10,291.67 240907004 LC-RCTC Toll Revenue: - I-15 67021KGL7 NSTAR Electric Company - 1,399,261.11 - (1,400,000.00) - - 738.89 - - - 240907004 LC-RCTC Toll Revenue: - I-15 71112KK42 The Peoples Gas Light And Coke Company - 1,199,025.00 - - - - 750.00 (3.00) 1,199,772.00 - 240907004 LC-RCTC Toll Revenue: - I-15 313385A97 FEDERAL HOME LOAN BANKS - 2,999,229.18 - (3,000,000.00) - - 770.82 - - - 240907004 LC-RCTC Toll Revenue: - I-15 43357MGB0 Hitachi Capital America Corp. - 1,399,188.00 - (1,400,000.00) - - 812.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 92780KJK5 Virginia Electric and Power Company - 1,854,113.72 - (1,855,000.00) - - 886.28 - - - 240907004 LC-RCTC Toll Revenue: - I-15 69372BGQ7 PACCAR Financial Corp. - 1,399,099.34 - (1,400,000.00) - - 900.66 - - - 240907004 LC-RCTC Toll Revenue: - I-15 87030KH17 Aktiebolaget Svensk Exportkredit - 1,399,090.00 - (1,400,000.00) - - 910.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 23336KH62 DTE Electric Company - 1,424,085.62 - (1,425,000.00) - - 914.38 - - - 240907004 LC-RCTC Toll Revenue: - I-15 14912EGD3 Caterpillar Financial Services Corporation 1,399,118.00 - - (1,400,000.00) - - 956.67 (74.67) - - 240907004 LC-RCTC Toll Revenue: - I-15 22533UHT3 Credit Agricole Corporate and Investment Bank - 1,499,035.01 - (1,500,000.00) - - 964.99 - - - 240907004 LC-RCTC Toll Revenue: - I-15 74005JGG7 Praxair, Inc. - 1,398,960.11 - (1,400,000.00) - - 1,039.89 - - - 240907004 LC-RCTC Toll Revenue: - I-15 313385ZP4 FEDERAL HOME LOAN BANKS - 6,998,958.75 - (7,000,000.00) - - 1,041.25 - - - 240907004 LC-RCTC Toll Revenue: - I-15 64587BJS2 New Jersey Natural Gas Company - 1,998,940.00 - (2,000,000.00) - - 1,060.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 87019SHP2 Swedbank AB - 1,398,938.34 - (1,400,000.00) - - 1,061.66 - - - 240907004 LC-RCTC Toll Revenue: - I-15 67021KH36 NSTAR Electric Company - 1,398,938.34 - (1,400,000.00) - - 1,061.66 - - - 240907004 LC-RCTC Toll Revenue: - I-15 65477XAE4 NALT 16B A4 402,525.45 - - - - - 1,065.64 185.81 403,776.90 289.80 240907004 LC-RCTC Toll Revenue: - I-15 912796PZ6 UNITED STATES TREASURY - 6,998,897.50 - (7,000,000.00) - - 1,102.50 - - - 240907004 LC-RCTC Toll Revenue: - I-15 09659KHF0 BNP Paribas Fortis - 1,398,862.50 - (1,400,000.00) - - 1,137.50 - - - 240907004 LC-RCTC Toll Revenue: - I-15 50000EK29 Koch Industries, Inc. - 1,023,786.23 - - - - 1,155.97 (3.70) 1,024,938.50 - 240907004 LC-RCTC Toll Revenue: - I-15 63873KH26 Natixis - 1,398,811.55 - (1,400,000.00) - - 1,188.45 - - - 240907004 LC-RCTC Toll Revenue: - I-15 24422ETJ8 JOHN DEERE CAPITAL CORP 1,104,243.75 - - - - - 1,196.59 1,447.17 1,106,887.50 6,718.75 240907004 LC-RCTC Toll Revenue: - I-15 46640QH79 J.P. Morgan Securities LLC - 848,801.74 - (850,000.00) - - 1,198.26 - - - 240907004 LC-RCTC Toll Revenue: - I-15 912828L40 UNITED STATES TREASURY - 1,998,671.88 - (2,000,000.00) - - 1,328.12 - - - 240907004 LC-RCTC Toll Revenue: - I-15 21687BGW5 Cooperatieve Rabobank U.A. - 1,398,663.00 - (1,400,000.00) - - 1,337.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 29878SHA7 Banque europeenne d'investissement (BEI) - 1,398,635.00 - (1,400,000.00) - - 1,365.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 02587AAJ3 AMXCA 171 A 640,412.50 - - - - - 1,423.17 (844.67) 640,991.00 557.56 240907004 LC-RCTC Toll Revenue: - I-15 64105SK15 Nestle Finance International Ltd. - 1,898,544.39 - - - - 1,455.61 - 1,900,000.00 - 240907004 LC-RCTC Toll Revenue: - I-15 14912EHU4 Caterpillar Financial Services Corporation - 1,398,407.50 - (1,400,000.00) - - 1,592.50 - - - 240907004 LC-RCTC Toll Revenue: - I-15 87019SKV5 Swedbank AB - 1,995,053.34 - - - - 1,648.89 (242.23) 1,996,460.00 - 240907004 LC-RCTC Toll Revenue: - I-15 912828L40 UNITED STATES TREASURY - 3,198,250.00 - (3,200,000.00) - - 1,750.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 78355BKH4 Ryder System, Inc. - 1,996,250.00 - - - - 1,750.00 (20.00) 1,997,980.00 - 240907004 LC-RCTC Toll Revenue: - I-15 43357MKJ8 Hitachi Capital America Corp. - 1,995,952.78 - - - - 1,827.78 79.44 1,997,860.00 - 240907004 LC-RCTC Toll Revenue: - I-15 912828L40 UNITED STATES TREASURY - 2,498,144.53 - (2,500,000.00) - - 1,855.47 - - - 240907004 LC-RCTC Toll Revenue: - I-15 313385H25 FEDERAL HOME LOAN BANKS - 7,033,133.77 - (7,035,000.00) - - 1,866.23 - - - 240907004 LC-RCTC Toll Revenue: - I-15 912828XK1 UNITED STATES TREASURY 5,998,020.00 - - (6,000,000.00) - - 2,260.42 (280.42) - - 240907004 LC-RCTC Toll Revenue: - I-15 912796PQ6 UNITED STATES TREASURY 4,282,986.05 - - (4,285,000.00) - - 2,343.66 (329.71) - - 240907004 LC-RCTC Toll Revenue: - I-15 63743DHL8 National Rural Utilities Cooperative Finance Corpo - 1,397,588.89 - (1,400,000.00) - - 2,411.11 - - - 240907004 LC-RCTC Toll Revenue: - I-15 97684HH95 Wisconsin Public Service Corporation - 1,397,550.00 - (1,400,000.00) - - 2,450.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 912828L40 UNITED STATES TREASURY - 7,347,416.02 - (7,350,000.00) - - 2,583.98 - - - 240907004 LC-RCTC Toll Revenue: - I-15 50000EJB1 Koch Industries, Inc. - 1,397,277.78 - (1,400,000.00) - - 2,722.22 - - - 240907004 LC-RCTC Toll Revenue: - I-15 912828RE2 UNITED STATES TREASURY 3,997,280.00 - - (4,000,000.00) - - 2,723.21 (3.21) - - 240907004 LC-RCTC Toll Revenue: - I-15 26055BHM9 The Dow Chemical Company - 1,397,228.00 - (1,400,000.00) - - 2,772.00 - - - 240907004 LC-RCTC Toll Revenue: - I-15 69372BJA9 PACCAR Financial Corp. - 1,997,197.78 - (2,000,000.00) - - 2,802.22 - - - 240907004 LC-RCTC Toll Revenue: - I-15 43357MHX1 Hitachi Capital America Corp. - 1,397,166.95 - (1,400,000.00) - - 2,833.05 - - - 240907004 LC-RCTC Toll Revenue: - I-15 62479MJ46 MUFG Bank, Ltd. - 1,997,111.12 - (2,000,000.00) - - 2,888.88 - - - 240907004 LC-RCTC Toll Revenue: - I-15 17275RBG6 CISCO SYSTEMS INC 1,035,216.00 - - - - - 2,955.83 (1,884.83) 1,036,287.00 449.17 240907004 LC-RCTC Toll Revenue: - I-15 26055BJH8 The Dow Chemical Company - 1,396,484.45 - (1,400,000.00) - - 3,515.55 - - - 240907004 LC-RCTC Toll Revenue: - I-15 02665KJQ1 American Honda Finance Corporation - 2,493,472.23 - (2,500,000.00) - - 6,527.77 - - - 240907004 LC-RCTC Toll Revenue: - I-15 912828P53 UNITED STATES TREASURY - 2,419,221.88 - - - - 7,436.43 (1,249.51) 2,425,408.80 2,337.23 240907004 LC-RCTC Toll Revenue: - I-15 912828T42 UNITED STATES TREASURY - 4,991,210.94 - (5,000,000.00) - - 8,789.06 - - - 240907004 LC-RCTC Toll Revenue: - I-15 912828UF5 UNITED STATES TREASURY 3,626,740.00 - - - - - 11,970.30 (10,527.30) 3,628,183.00 10,519.36 86,599,976.00 282,248,058.34 (144,973,845.64) (141,165,000.00) (5,721,097.59) 1,981.56 80,801.52 64,136.39 75,534,874.98 217,806.81

240907020 RCTC I-15 Prj RAMP UP RESERVE 31283K5N4 FH G11753 793,428.40 - - - (143,773.25) (7,548.46) (4,800.83) 2,871.93 640,177.79 2,619.86 240907020 RCTC I-15 Prj RAMP UP RESERVE 31392J6N4 FNR 0323B EQ 643,999.52 - - - (56,217.10) (4,440.66) (1,857.90) (93.50) 581,390.36 2,553.50 240907020 RCTC I-15 Prj RAMP UP RESERVE 3137ANMN2 FHMS K707 A2 1,796,094.00 - - - (635,122.77) 241.03 (1,195.95) 2,764.15 1,162,780.46 2,155.02 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378AWX5 GNR 11157E QA 195,802.27 - - - (23,225.37) (183.08) (135.77) (289.23) 171,968.82 431.24 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378DDC6 GNR 1216E GB 115,593.22 - - - (17,675.49) (119.45) (114.09) (325.37) 97,358.82 283.27 240907020 RCTC I-15 Prj RAMP UP RESERVE 38378CDK0 GNR 11169G AK 135,814.13 - - - (20,284.77) (142.70) (113.75) (67.41) 115,205.50 288.35 240907020 RCTC I-15 Prj RAMP UP RESERVE 383742C76 GNR 0832B PA 94,712.03 - - - (6,118.58) (143.06) (74.14) (344.10) 88,032.15 288.79 240907020 RCTC I-15 Prj RAMP UP RESERVE 31397SE83 FNR 1136C PA 37,582.62 - - - (20,106.34) (16.46) (48.93) 64.41 17,475.31 58.27 240907020 RCTC I-15 Prj RAMP UP RESERVE 3134GSTK1 FEDERAL HOME LOAN MORTGAGE CORP - 150,075.00 - - - - (29.31) (44.19) 150,001.50 475.00

20 Page 17 of 32 2017 Financing STAMP Portfolio Transaction Report by Account Quarter ended September 30, 2018

245490001 LC-RCTC 2017 PRJ: Sales Tax 9AMMF05B2 U.S. BANK MONEY MARKET ACCOUNT FUND 17,568.39 14,617,398.53 (14,634,006.19) - - - - - 960.73 - 245490001 LC-RCTC 2017 PRJ: Sales Tax CCYUSD Cash 0.03 ------245490001 LC-RCTC 2017 PRJ: Sales Tax CCYUSD Receivable 778,093.18 ------245490001 LC-RCTC 2017 PRJ: Sales Tax 31398NG99 FNR 10112H AE - - - - 0.01 (0.01) - - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 54438CWT5 LOS ANGELES CALIF CMNTY COLLEGE DIST 274,903.75 - - (275,000.00) - - - 96.25 - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 41284CAD6 HDMOT 152 A3 874.44 - - - (874.87) (0.00) 0.19 0.24 - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 65477UAC4 NAROT 15A A3 18,089.21 - - - (18,109.30) 7.33 2.71 10.05 - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313589YV9 FEDERAL NATIONAL MORTGAGE ASSOCIATION 300,000.00 - - (300,000.00) - - 15.01 (15.01) - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313589A45 FEDERAL NATIONAL MORTGAGE ASSOCIATION - 324,983.93 - (325,000.00) - - 16.07 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 43814LAC3 HAROT 154 A3 52,724.81 - (26,544.15) - (26,341.69) 21.57 18.39 121.07 - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 90290XAD9 USAOT 151 A4 166,536.45 - (134,170.18) - (32,516.07) 332.76 47.17 (230.12) - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385ZE9 FEDERAL HOME LOAN BANKS - 599,939.33 - (600,000.00) - - 60.67 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385ZG4 FEDERAL HOME LOAN BANKS - 399,939.00 - (400,000.00) - - 61.00 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385ZU3 FEDERAL HOME LOAN BANKS - 599,939.00 - (600,000.00) - - 61.00 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385ZG4 FEDERAL HOME LOAN BANKS - 299,938.67 - (300,000.00) - - 61.33 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385ZL3 FEDERAL HOME LOAN BANKS - 349,930.78 - (350,000.00) - - 69.22 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385ZM1 FEDERAL HOME LOAN BANKS - 249,924.79 - (250,000.00) - - 75.21 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385ZM1 FEDERAL HOME LOAN BANKS - 299,922.92 - (300,000.00) - - 77.08 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385ZK5 FEDERAL HOME LOAN BANKS - 299,910.00 - (300,000.00) - - 90.00 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385YZ3 FEDERAL HOME LOAN BANKS - 599,907.50 - (600,000.00) - - 92.50 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385ZL3 FEDERAL HOME LOAN BANKS - 400,897.52 - (401,000.00) - - 102.48 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385ZP4 FEDERAL HOME LOAN BANKS - 699,895.88 - (700,000.00) - - 104.12 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 912796PN3 UNITED STATES TREASURY 649,909.00 - - (650,000.00) - - 128.05 (37.05) - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385ZT6 FEDERAL HOME LOAN BANKS - 699,858.83 - (700,000.00) - - 141.17 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385ZD1 FEDERAL HOME LOAN BANKS - 399,855.33 - (400,000.00) - - 144.67 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385ZS8 FEDERAL HOME LOAN BANKS - 599,847.50 - (600,000.00) - - 152.50 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 912828XK1 UNITED STATES TREASURY 544,820.15 - - (545,000.00) - - 204.91 (25.06) - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 912796MK2 UNITED STATES TREASURY - 849,704.15 - (850,000.00) - - 295.85 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385A30 FEDERAL HOME LOAN BANKS - 799,669.34 - (800,000.00) - - 330.66 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 912796PR4 UNITED STATES TREASURY - 849,612.72 - (850,000.00) - - 387.28 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 313385A48 FEDERAL HOME LOAN BANKS - 1,149,584.08 - (1,150,000.00) - - 415.92 - - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 912796PQ6 UNITED STATES TREASURY 839,605.20 - - (840,000.00) - - 423.50 (28.70) - - 245490001 LC-RCTC 2017 PRJ: Sales Tax 912796PS2 UNITED STATES TREASURY - 849,414.92 - (850,000.00) - - 585.08 - - - 3,643,124.61 25,940,074.72 (14,794,720.52) (13,936,000.00) (77,841.92) 361.65 4,163.73 (108.33) 960.73 -

98,193,801.56 317,220,793.56 (164,234,747.99) (158,201,000.00) (6,810,696.73) (9,546.58) 85,823.03 53,320.09 83,507,224.37 240,773.75

21 Page 18 of 32 BLANK ATTACHMENT 11

2017 Financing STAMP Portfolio Summary of Investments for quarter ended September 30, 2018 Credit Rating Industry Group

Asset Class Security Type Market Sector

22 BLANK ATTACHMENT 12 2017 Financing STAMP Portfolio Sales Tax Revenue Fund Summary of Investments for quarter ended September 30, 2018 Credit Rating Industry Group

Asset Class Security Type Market Sector

23 BLANK ATTACHMENT 13

2017 Financing STAMP Portfolio Sales Tax I15 ELP Project Revenue Fund Summary of Investments for quarter ended September 30, 2018 Credit Rating Industry Group

Asset Class Security Type Market Sector

24 BLANK ATTACHMENT 14

2017 Financing STAMP Portfolio Ramp Up Fund Summary of Investments for quarter ended September 30, 2018 Credit Rating Industry Group

Asset Class Security Type Market Sector

*Negative cash reflects securities in transit at month end

25 BLANK ATTACHMENT 15

Payden & Rygel Operating Portfolio by Investment Category for Quarter ended September 30, 2018 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Next Call Base Market Unrealized Accrued Credit CUSIP Security Type Category Issuer Final Maturity Trade Date Date Original Cost Value Gain/Loss Income Coupon Yield Rating 3133EH2J1 Agencies F F C B 2.141% 12/11/20 12/11/2020 12/11/2017 510,000.00 510,030.60 30.60 588.57 2.140 2.141 AA+ 3133EHRD7 Agencies F F C B DEB 2.22794% 7/13/22 07/13/2022 07/13/2017 310,000.00 310,387.50 387.50 332.83 2.230 2.227 AA+ 3133EHRZ8 Agencies F F C B DEB 2.06475% 6/25/20 06/25/2020 07/25/2017 510,000.00 510,260.10 260.10 175.50 2.220 2.064 AA+ 3133EHTJ2 Agencies F F C B DEB 2.326% 8/01/22 08/01/2022 08/01/2017 230,000.00 230,200.10 200.10 416.64 2.170 2.326 AA+ 3133EHVR1 Agencies F F C B DEB 2.22219% 8/24/20 08/24/2020 08/24/2017 130,000.00 130,097.50 97.50 52.48 2.220 2.221 AA+ 3133EHXH1 Agencies F F C B 2.20031% 9/06/22 09/06/2022 09/06/2017 260,000.00 260,135.20 135.20 390.03 2.200 2.199 AA+ 3133EJZD4 Agencies F F C B DEB 2.960% 9/13/21 09/13/2021 09/13/2018 12/13/2018 258,921.00 259,123.80 202.80 384.80 2.960 2.974 AA+ 3134GBTL6 Agencies F H L M C M T N 2.100% 6/29/22 06/29/2022 06/29/2017 12/29/2018 484,720.00 481,910.00 (2,810.00) 2,683.33 2.100 2.183 AA+ 3134GSWC5 Agencies F H L M C M T N 2.900% 8/27/21 08/27/2021 08/27/2018 11/27/2018 510,000.00 507,577.50 (2,422.50) 1,396.83 2.900 2.919 AA+ 3135G0T29 Agencies F N M A DEB 1.500% 2/28/20 02/28/2020 02/28/2017 299,808.00 294,870.00 (4,938.00) 412.50 1.500 1.526 AA+ 3136G4SW4 Agencies F N M A M T N 2.900% 6/28/21 06/28/2021 06/28/2018 12/28/2018 259,870.00 258,125.40 (1,744.60) 1,947.83 2.900 2.916 AA+ 3137EAEL9 Agencies F H L M C M T N 2.375% 2/16/21 02/16/2021 02/16/2018 508,653.60 504,135.00 (4,518.60) 1,514.06 2.380 2.408 AA+ 02582JHG8 Asset-Backed AMERICAN EXPRESS 1.640% 12/15/21 12/15/2021 05/30/2017 419,932.72 417,337.20 (2,595.52) 306.13 1.640 1.650 AAA 05582QAD9 Asset-Backed BMW VEHICLE OWNER 1.160% 11/25/20 11/25/2020 07/20/2016 287,565.82 285,597.28 (1,968.54) 55.60 1.160 1.168 N/A 05584PAD9 Asset-Backed BMW VEHICLE LEASE 2.070% 10/20/20 10/20/2020 10/25/2017 99,999.92 99,107.00 (892.92) 63.25 2.070 2.089 N/A 161571HC1 Asset-Backed CHASE ISSUANCE TRUST 1.370% 6/15/21 06/15/2021 06/17/2016 750,013.80 742,845.00 (7,168.80) 456.67 1.370 1.383 AAA 17305EGA7 Asset-Backed CITIBANK CREDIT CARD 1.740% 1/19/21 01/19/2021 01/26/2017 379,927.23 379,164.00 (763.23) 1,359.13 1.740 1.743 AAA 17305EGB5 Asset-Backed CITIBANK CREDIT 1.920% 4/07/22 04/07/2022 04/11/2017 229,933.74 226,366.00 (3,567.74) 2,134.40 1.920 1.953 AAA 31846V203 Asset-Backed FIRST AM GOVT OB FD CL Y 1,234,510.52 1,234,510.52 - 435.01 1.790 1.778 45750TAG8 Asset-Backed INLAND VLY CA DEV 3.627% 3/01/20 03/01/2020 05/15/2014 232,268.07 232,219.50 (48.57) 695.18 1.780 3.596 AA 54473ERQ9 Asset-Backed LOS ANGELES CNTY CA 2.036% 12/01/18 12/01/2018 09/02/2015 50,000.00 49,961.50 (38.50) 339.33 1.790 2.037 AA 649791EV8 Asset-Backed NEW YORK ST SER B 3.600% 2/15/19 02/15/2019 03/30/2011 252,392.65 250,945.00 (1,447.65) 1,150.00 2.050 3.590 AA+ 79876CBQ0 Asset-Backed SAN MARCOS CA REDEV 2.000% 10/01/20 10/01/2020 12/14/2017 109,256.40 107,449.10 (1,807.30) 1,100.00 1.770 2.048 AA- 88579YBA8 Asset-Backed 3M COMPANY MTN 3.000% 9/14/21 09/14/2021 09/14/2018 08/14/2021 249,487.50 249,575.00 87.50 354.17 1.760 3.010 AA- 89190BAD0 Asset-Backed TOYOTA AUTO 1.760% 7/15/21 07/15/2021 05/17/2017 519,960.12 514,217.60 (5,742.52) 406.76 1.730 1.782 AAA 89238MAD0 Asset-Backed TOYOTA AUTO 1.730% 2/16/21 02/16/2021 03/15/2017 375,955.74 373,337.92 (2,617.82) 289.10 1.700 1.743 AAA 037833BS8 Credit APPLE INC 2.250% 2/23/21 02/23/2021 02/23/2016 01/23/2021 495,675.00 491,090.00 (4,585.00) 1,187.50 2.250 2.299 AA+ 037833CS7 Credit APPLE INC 1.800% 5/11/20 05/11/2020 05/11/2017 484,505.30 476,881.10 (7,624.20) 3,395.00 1.800 1.832 AA+ 053015AD5 Credit AUTOMATIC DATA 2.250% 9/15/20 09/15/2020 09/15/2015 08/15/2020 453,997.38 444,262.50 (9,734.88) 450.00 2.250 2.284 AA 06050TMH2 Credit BANK OF AMERICA NA 25.6138% 8/28/20 08/28/2020 08/28/2018 08/28/2019 410,000.00 410,188.60 188.60 - 2.560 25.596 A+ 06406FAA1 Credit BANK OF NY MTN 2.500% 4/15/21 04/15/2021 02/19/2016 03/15/2021 758,499.79 736,410.00 (22,089.79) 8,645.83 2.500 2.552 A 06406HBM0 Credit BANK NY MELLON MTN 5.450% 5/15/19 05/15/2019 05/12/2009 250,647.01 246,058.34 (4,588.67) 4,982.51 5.450 5.373 A 084664CK5 Credit BERKSHIRE HATHAWAY 1.300% 8/15/19 08/15/2019 08/15/2016 159,844.80 158,070.40 (1,774.40) 265.78 1.300 1.315 AA 084670BQ0 Credit BERKSHIRE HATHAWAY 2.200% 3/15/21 03/15/2021 03/15/2016 02/15/2021 466,436.01 461,834.34 (4,601.67) 460.53 2.200 2.247 AA 166764AN0 Credit CHEVRON CORP 2.193% 11/15/19 11/15/2019 11/18/2014 502,883.11 496,440.00 (6,443.11) 4,142.33 2.190 2.211 AA- 166764AU4 Credit CHEVRON CORP 2.91461% 3/03/22 03/03/2022 03/03/2015 504,383.40 505,785.00 1,401.60 1,133.46 2.850 2.882 AA- 17275RAE2 Credit CISCO SYSTEMS INC 4.950% 2/15/19 02/15/2019 02/17/2009 365,931.86 363,117.60 (2,814.26) 2,277.00 4.950 4.917 AA- 17275RAX0 Credit CISCO SYSTEMS INC 2.450% 6/15/20 06/15/2020 06/17/2015 599,952.00 595,242.00 (4,710.00) 4,328.33 2.450 2.473 AA- 17275RBG6 Credit CISCO SYSTEMS INC 1.400% 9/20/19 09/20/2019 09/20/2016 39,955.60 39,477.60 (478.00) 17.11 1.400 1.419 AA- 30231GAV4 Credit EXXON MOBIL 2.222% 3/01/21 03/01/2021 03/03/2016 02/01/2021 495,685.00 490,065.00 (5,620.00) 925.83 2.220 2.271 AA+ 47787XAC1 Credit JOHN DEERE OWNER 1.780% 4/15/21 04/15/2021 03/02/2017 309,955.86 307,594.40 (2,361.46) 245.24 1.950 1.794 N/A 478160CH5 Credit JOHNSON JOHNSON 1.950% 11/10/20 11/10/2020 11/10/2017 249,732.50 244,947.50 (4,785.00) 1,909.38 2.960 1.990 AAA 58769DAD2 Credit MERCEDES BENZ AUTO 1.790% 4/15/20 04/15/2020 04/26/2017 369,991.56 368,483.00 (1,508.56) 294.36 5.000 1.797 AAA 589331AN7 Credit MERCK CO INC 5.000% 6/30/19 06/30/2019 06/25/2009 516,323.34 509,025.00 (7,298.34) 6,319.44 1.850 4.930 AA 702282ND2 Credit PASADENA CA UNIF 1.861% 11/01/18 11/01/2018 03/20/2014 250,305.29 249,857.50 (447.79) 1,938.54 1.450 1.861 A+ 717081DU4 Credit PFIZER INC 1.450% 6/03/19 06/03/2019 06/03/2016 249,715.00 247,970.00 (1,745.00) 1,188.19 3.000 1.462 AA 717081EM1 Credit PFIZER INC 3.000% 9/15/21 09/15/2021 09/07/2018 249,662.50 249,945.00 282.50 500.00 1.750 3.011 AA 80284TAF2 Credit SANTANDER DRIVE 1.770% 9/15/20 09/15/2020 02/28/2017 50,146.82 50,106.05 (40.77) 39.45 2.550 1.771 AAA 882723UC1 Credit TEXAS ST REF WTR 2.036% 8/01/20 08/01/2020 02/05/2015 251,154.41 246,245.00 (4,909.41) 848.33 3.000 2.068 AAA 90290AAC1 Credit USAA AUTO OWNER 1.700% 5/17/21 05/17/2021 09/20/2017 139,985.24 138,776.40 (1,208.84) 105.78 2.050 1.715 AAA 90331HNG4 Credit US BANK NA MTN 2.050% 10/23/20 10/23/2020 10/24/2017 09/23/2020 249,950.00 244,847.50 (5,102.50) 2,249.31 2.350 2.100 AA- 90331HNJ8 Credit US BANK NA MTN 2.350% 1/23/20 01/23/2020 01/23/2018 12/23/2019 254,885.25 252,896.25 (1,989.00) 1,131.92 2.980 2.372 AA- 931142DY6 Credit WALMART STORES INC 1.750% 10/09/19 10/09/2019 10/20/2017 294,994.10 292,339.10 (2,655.00) 2,466.53 1.750 1.767 AA 931142EA7 Credit WALMART STORES INC 1.900% 12/15/20 12/15/2020 10/20/2017 489,760.00 489,360.00 (400.00) 2,797.22 1.900 1.947 AA 931142EJ8 Credit WALMART INC 3.125% 6/23/21 06/23/2021 06/27/2018 129,993.50 130,261.30 267.80 1,060.76 3.130 3.126 AA 94988J5D5 Credit WELLS FARGO BANK MTN 1.750% 5/24/19 05/24/2019 06/02/2016 503,793.05 501,879.10 (1,913.95) 3,117.67 1.750 1.762 A+ 94988J5Q6 Credit WELLS FARGO MTN 2.84706% 7/23/21 07/23/2021 07/23/2018 07/23/2020 500,000.00 501,205.00 1,205.00 2,767.98 2.850 2.845 A+ 3136B1XP4 Mortgage-Backed F N M A GTD REMIC 3.560% 9/25/21 09/25/2021 04/01/2018 211,342.15 209,660.88 (1,681.27) 616.18 3.560 3.534 N/A 3137BNN26 Mortgage-Backed F H L M C MLTCL MTG 1.780% 7/25/19 07/25/2019 04/01/2016 31,156.74 30,846.43 (310.31) 46.10 1.780 1.793 N/A 3137BPCF4 Mortgage-Backed F H L M C MLTCL MTG 1.376% 10/25/20 10/25/2020 05/01/2016 62,939.60 62,663.79 (275.81) 14.43 1.380 1.381 N/A 3137FGZN8 Mortgage-Backed F H L M C MLTCL 3.19393% 2/25/23 02/25/2023 08/14/2018 235,500.22 235,500.22 - 125.36 2.310 3.194 N/A 26 Payden & Rygel Operating Portfolio by Investment Category for Quarter ended September 30, 2018 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Next Call Base Market Unrealized Accrued Credit CUSIP Security Type Category Issuer Final Maturity Trade Date Date Original Cost Value Gain/Loss Income Coupon Yield Rating 010831DL6 Taxable Muni ALAMEDA CNTY CA JT 2.485% 6/01/19 06/01/2019 04/24/2018 260,000.00 259,584.00 (416.00) 2,153.67 2.490 2.490 AA+ 010831DN2 Taxable Muni ALAMEDA CNTY CA JT 2.866% 6/01/21 06/01/2021 04/24/2018 255,000.00 253,059.45 (1,940.55) 2,436.10 2.870 2.895 AA+ 13063BFS6 Taxable Muni CALIFORNIA ST BUILD 6.650% 3/01/22 03/01/2022 04/01/2010 481,875.84 463,679.25 (18,196.59) 2,355.21 6.650 6.073 AA- 13063C4V9 Taxable Muni CALIFORNIA ST 1.050% 11/01/18 11/01/2018 11/03/2016 149,887.50 149,838.00 (49.50) 656.25 1.050 1.050 AA- 13063DAB4 Taxable Muni CALIFORNIA ST HIGH 1.593% 4/01/19 04/01/2019 04/27/2017 350,020.28 348,082.00 (1,938.28) 2,787.75 1.590 1.600 AA- 13063DGA0 Taxable Muni CALIFORNIA ST 2.800% 4/01/21 04/01/2021 04/25/2018 500,020.00 498,340.00 (1,680.00) 6,066.67 2.800 2.824 AA- 13066YTY5 Taxable Muni CALIFORNIA ST DEPT 1.713% 5/01/21 05/01/2021 09/28/2016 105,052.47 102,875.93 (2,176.54) 757.44 1.710 1.768 AA 13077CT38 Taxable Muni CALIFORNIA ST 1.982% 11/01/19 11/01/2019 08/05/2015 130,329.23 128,593.40 (1,735.83) 1,073.58 1.980 2.003 AA- 43814PAC4 Taxable Muni HONDA AUTO 1.790% 9/20/21 09/20/2021 09/29/2017 149,983.76 147,861.00 (2,122.76) 96.96 3.630 1.817 AAA 48125LRJ3 Taxable Muni JP MORGAN MTN 2.92506% 9/23/19 43731 42636 848,631.79 848,810.95 179.16 549.26 1.750 2.915 A+ 544445AY5 Taxable Muni LOS ANGELES CA DEPT 1.750% 5/15/19 05/15/2019 12/06/2016 100,000.00 99,507.00 (493.00) 661.11 2.090 1.758 AA 544445AZ2 Taxable Muni LOS ANGELES CA DEPT 2.092% 5/15/20 05/15/2020 12/06/2016 98,788.00 98,647.00 (141.00) 790.31 1.130 2.121 AA 54465AGK2 Taxable Muni LOS ANGELES CA 1.125% 9/01/19 09/01/2019 08/25/2016 266,868.00 266,093.10 (774.90) 253.13 2.040 1.141 AA 594918BV5 Taxable Muni MICROSOFT CORP 1.850% 2/06/20 02/06/2020 02/06/2017 499,665.00 493,935.00 (5,730.00) 1,413.19 3.380 1.873 AAA 6055806F1 Taxable Muni MISSISSIPPI ST SER D 3.381% 11/01/18 11/01/2018 11/10/2010 100,942.57 100,079.00 (863.57) 1,408.75 3.600 3.381 AA 649791EJ5 Taxable Muni NEW YORK ST REF SER 3.600% 9/01/19 09/01/2019 03/30/2011 509,729.38 503,130.00 (6,599.38) 1,500.00 3.600 3.581 AA+ 65479BAD2 Taxable Muni NISSAN AUTO LEASE 2.050% 9/15/20 09/15/2020 10/10/2017 219,961.57 218,167.40 (1,794.17) 200.44 2.290 2.067 N/A 697379UD5 Taxable Muni PALO ALTO CA 2.291% 8/01/20 08/01/2020 08/14/2012 321,873.50 321,243.00 (630.50) 1,240.96 1.860 2.319 AAA 742718EZ8 Taxable Muni PROCTER GAMBLE CO 1.750% 10/25/19 10/25/2019 10/25/2017 149,947.50 148,450.50 (1,497.00) 1,137.50 2.710 1.770 AA- 78607QAT2 Taxable Muni SACRAMENTO CA 2.712% 11/01/19 11/01/2019 05/30/2018 130,000.00 129,649.00 (351.00) 1,184.99 2.700 2.720 AA+ 797299LR3 Taxable Muni SAN DIEGO CA PUBLIC 2.698% 10/15/19 10/15/2019 06/21/2018 500,000.00 498,765.00 (1,235.00) 3,747.22 2.990 2.705 AA- 797299LT9 Taxable Muni SAN DIEGO CA PUBLIC 2.994% 10/15/21 10/15/2021 06/21/2018 200,000.00 198,044.00 (1,956.00) 1,663.33 2.170 3.028 AA- 797669XT0 Taxable Muni SAN FRANCISCO CA 2.169% 7/01/20 07/01/2020 12/28/2017 100,000.00 98,814.00 (1,186.00) 542.25 2.000 2.196 AA+ 79770GGM2 Taxable Muni SAN FRANCISCO CITY 2.000% 8/01/20 08/01/2020 11/30/2017 299,607.00 294,723.00 (4,884.00) 1,000.00 2.100 2.036 AA- 798170AB2 Taxable Muni SAN JOSE CA 2.098% 8/01/19 08/01/2019 12/21/2017 320,000.00 318,275.20 (1,724.80) 1,118.93 2.260 2.110 AA 798170AC0 Taxable Muni SAN JOSE CA REDEV 2.259% 8/01/20 08/01/2020 12/21/2017 190,000.00 187,695.30 (2,304.70) 715.35 2.000 2.288 AA 857477AS2 Taxable Muni STATE STREET CORP 2.550% 8/18/20 08/18/2020 08/18/2015 793,939.50 781,924.52 (12,014.98) 2,400.12 2.040 2.577 A 91412G2R5 Taxable Muni UNIV OF CALIFORNIA 1.877% 5/15/20 05/15/2020 09/28/2017 90,000.00 88,436.70 (1,563.30) 638.18 1.880 1.910 AA- 91412G2S3 Taxable Muni UNIV OF CALIFORNIA 2.112% 5/15/21 05/15/2021 09/28/2017 140,000.00 136,325.00 (3,675.00) 1,117.01 2.110 2.171 AA- 91412GD36 Taxable Muni UNIV OF CA 1.169% 5/15/19 05/15/2019 04/20/2016 140,000.00 138,770.80 (1,229.20) 618.27 1.170 1.179 AA 91412GWV3 Taxable Muni UNIV OF CA 2.003% 5/15/19 05/15/2019 03/25/2015 250,000.00 249,077.50 (922.50) 1,891.72 2.000 2.010 AA 91159HHQ6 Treasuries US BANCORP MTN 2.98156% 1/24/22 01/24/2022 01/24/2017 12/23/2021 504,139.09 504,385.00 245.91 2,857.33 1.500 2.956 A+ 9128282Q2 Treasuries U S TREASURY NT 1.500% 8/15/20 08/15/2020 08/15/2017 1,457,105.41 1,423,372.50 (33,732.91) 2,793.18 2.000 1.537 N/A 9128283S7 Treasuries U S TREASURY NT 2.000% 1/31/20 01/31/2020 01/31/2018 1,536,510.93 1,525,323.80 (11,187.14) 5,189.13 2.250 2.020 N/A 9128284C1 Treasuries U S TREASURY NT 2.250% 3/31/20 03/31/2020 04/02/2018 1,659,092.19 1,647,483.60 (11,608.59) 18,473.69 2.380 2.268 N/A 9128284J6 Treasuries U S TREASURY NT 2.375% 4/30/20 04/30/2020 04/30/2018 2,287,937.69 2,280,564.45 (7,373.24) 22,809.68 2.380 2.391 N/A 9128284P2 Treasuries U S TREASURY NT 2.625% 5/15/21 05/15/2021 05/15/2018 1,277,916.02 1,271,948.80 (5,967.22) 12,691.30 2.630 2.645 N/A 9128284Q0 Treasuries U S TREASURY NT 2.500% 5/31/20 05/31/2020 05/31/2018 509,741.02 507,567.30 (2,173.72) 4,284.84 2.500 2.514 N/A 9128284T4 Treasuries U S TREASURY NT 2.625% 6/15/21 06/15/2021 06/15/2018 639,675.00 635,750.40 (3,924.60) 4,957.38 2.630 2.646 N/A 9128284W7 Treasuries U S TREASURY NT 2.750% 8/15/21 08/15/2021 08/15/2018 1,937,973.44 1,927,821.15 (10,152.29) 6,796.16 2.750 2.765 N/A 9128284Y3 Treasuries U S TREASURY NT 2.625% 8/31/20 08/31/2020 08/31/2018 6,671,143.75 6,656,018.80 (15,124.95) 14,771.33 2.630 2.637 N/A 9128285A4 Treasuries U S TREASURY NT 2.750% 9/15/21 09/15/2021 09/15/2018 507,948.05 508,067.10 119.05 619.89 2.750 2.765 N/A 912828XY1 Treasuries U S TREASURY NT 2.500% 6/30/20 06/30/2020 06/30/2018 769,187.89 766,026.80 (3,161.09) 4,864.81 2.500 2.515 N/A 912828Y20 Treasuries U S TREASURY NT 2.625% 7/15/21 07/15/2021 07/16/2018 249,619.14 248,272.50 (1,346.64) 1,373.13 2.630 2.647 N/A 912828Y46 Treasuries U S TREASURY NT 2.625% 7/31/20 07/31/2020 07/31/2018 1,828,355.86 1,823,997.60 (4,358.26) 8,093.27 2.630 2.636 N/A

51,541,328.59 51,195,893.02 (345,435.58) 236,184.28

27 ATTACHMENT 16 Payden & Rygel Operating Portfolio Transaction Report Quarter ended September 30, 2018 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Short Term Long Term Transaction Settlement Miscellaneous Federal Tax Cost Gain/Loss Gain/Loss Date Trade Date Date CUSIP Description Units Price Commissions SEC Fees Fees Net Cash Amount Amount Amount Amount INTEREST EARNED ON F F C B DEB 2.05246% 8/01/22 $1 PV ON 230000.0000 7/2/2018 3133EHTJ2 SHARES DUE 7/1/2018 - - - - - 393.39 - - - 7/2/2018 7/2/2018 3134GBTL6 PAID ACCRUED INTEREST ON PURCHASE OF F H L M C M T N 2.100% 6/29/22 - - - - - (87.50) - - - PURCHASED PAR VALUE OF F H L M C M T N 2.100% 6/29/22 /SUNTRUST 7/2/2018 6/29/2018 7/2/2018 3134GBTL6 ROBINSON HUMPHREY, IN/500,000 PAR VALUE AT 96.944 % 500,000.00 0.97 - - - (484,720.00) 484,720.00 - - 7/2/2018 7/2/2018 7/2/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 30,724.87 1.00 - - - (30,724.87) 30,724.87 - - 7/2/2018 7/2/2018 7/2/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 99,063.90 1.00 - - - (99,063.90) 99,063.90 - - INTEREST EARNED ON FIRST AM GOVT OB FD CL Y UNIT ON 0.0000 SHARES DUE 7/2/2018 31846V203 6/30/2018 INTEREST FROM 6/1/18 TO 6/30/18 - - - - - 207.73 - - - AMORTIZED PREMIUM ON MERCK CO INC 5.000% 6/30/19 CURRENT YEAR 7/2/2018 589331AN7 AMORTIZATION ------(8,014.13) - - INTEREST EARNED ON MERCK CO INC 5.000% 6/30/19 $1 PV ON 500000.0000 7/2/2018 589331AN7 SHARES DUE 6/30/2018 - - - - - 12,500.00 - - - INTEREST EARNED ON SAN FRANCISCO CA 2.169% 7/01/20 $1 PV ON 7/2/2018 797669XT0 100000.0000 SHARES DUE 7/1/2018 - - - - - 1,102.58 - - -

7/2/2018 7/2/2018 9128282X7 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.375% 9/30/19 - - - - - 349.39 - - - SOLD PAR VALUE OF U S TREASURY NT 1.375% 9/30/19 /HSBC SECURITIES, 7/2/2018 6/29/2018 7/2/2018 9128282X7 INC./100,000 PAR VALUE AT 98.71451 % (100,000.00) 0.99 - - - 98,714.51 (99,847.15) (1,132.64) - RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.67343% 7/2/2018 7/2/2018 9128283T5 1/31/20 - - - - - 1,657.27 - - - SOLD PAR VALUE OF U S TREASURY NT 1.67343% 1/31/20 /DEUTSCHE BANK 7/2/2018 6/29/2018 7/2/2018 9128283T5 SECURITIES, INC./500,000 PAR VALUE AT 99.975826 % (500,000.00) 1.00 - - - 499,879.13 (499,585.26) 293.87 - 7/3/2018 7/3/2018 7/3/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (324,809.53) 1.00 - - - 324,809.53 (324,809.53) - -

7/3/2018 7/3/2018 697379UD5 PAID ACCRUED INTEREST ON PURCHASE OF PALO ALTO CA 2.291% 8/01/20 - - - - - (3,143.76) - - - PURCHASED PAR VALUE OF PALO ALTO CA 2.291% 8/01/20 /PERSHING 7/3/2018 6/29/2018 7/3/2018 697379UD5 LLC/325,000 PAR VALUE AT 99.038 % 325,000.00 0.99 - - - (321,873.50) 321,873.50 - - INTEREST EARNED ON F F C B 2.0027% 9/06/22 $1 PV ON 260000.0000 7/6/2018 3133EHXH1 SHARES DUE 7/6/2018 - - - - - 453.48 - - - 7/6/2018 7/6/2018 7/6/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 34,256.96 1.00 - - - (34,256.96) 34,256.96 - - 7/6/2018 7/6/2018 7/6/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (51,988.75) 1.00 - - - 51,988.75 (51,988.75) - -

7/6/2018 7/6/2018 9128282T6 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.250% 8/31/19 - - - - - 17.39 - - - SOLD PAR VALUE OF U S TREASURY NT 1.250% 8/31/19 /NATWEST MARKETS 7/6/2018 7/5/2018 7/6/2018 9128282T6 SECURITIES INC/4,000 PAR VALUE AT 98.672 % (4,000.00) 0.99 - - - 3,946.88 (3,993.44) (46.56) -

7/6/2018 7/6/2018 9128282X7 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.375% 9/30/19 - - - - - 4,664.48 - - - SOLD PAR VALUE OF U S TREASURY NT 1.375% 9/30/19 /NOMURA SECURITIES 7/6/2018 7/5/2018 7/6/2018 9128282X7 INTL., FIXED/1,280,000 PAR VALUE AT 98.703125 % (1,280,000.00) 0.99 - - - 1,263,400.00 (1,278,043.55) (14,643.55) -

7/6/2018 7/6/2018 9128283X6 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.250% 2/15/21 - - - - - 1,051.66 - - - SOLD PAR VALUE OF U S TREASURY NT 2.250% 2/15/21 /CITIGROUP GLOBAL 7/6/2018 7/5/2018 7/6/2018 9128283X6 MARKETS INC./XOTC 120,000 PAR VALUE AT 99.0625 % (120,000.00) 0.99 - - - 118,875.00 (119,446.88) (571.88) -

7/6/2018 7/6/2018 9128284T4 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.625% 6/15/21 - - - - - (963.93) - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.625% 6/15/21 /MLPFS 7/6/2018 7/5/2018 7/6/2018 9128284T4 INC/FIXED INCOME/640,000 PAR VALUE AT 99.94921875 % 640,000.00 1.00 - - - (639,675.00) 639,675.00 - -

7/6/2018 7/6/2018 912828XY1 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.500% 6/30/20 - - - - - (313.86) - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.500% 6/30/20 /NOMURA 7/6/2018 7/5/2018 7/6/2018 912828XY1 SECURITIES/FIX INCOME/770,000 PAR VALUE AT 99.89453117 % 770,000.00 1.00 - - - (769,187.89) 769,187.89 - - INTEREST EARNED ON F F C B 2.05638% 12/11/20 $1 PV ON 510000.0000 7/11/2018 3133EH2J1 SHARES DUE 7/11/2018 - - - - - 873.96 - - - 7/11/2018 7/11/2018 7/11/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 873.96 1.00 - - - (873.96) 873.96 - - 7/12/2018 7/12/2018 7/12/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 247,734.96 1.00 - - - (247,734.96) 247,734.96 - -

7/12/2018 7/12/2018 9128282X7 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.375% 9/30/19 - - - - - 967.38 - - - SOLD PAR VALUE OF U S TREASURY NT 1.375% 9/30/19 /NATWEST MARKETS 7/12/2018 7/11/2018 7/12/2018 9128282X7 SECURITIES INC/250,000 PAR VALUE AT 98.707032 % (250,000.00) 0.99 - - - 246,767.58 (249,617.88) (2,850.30) - INTEREST EARNED ON F F C B DEB 2.12738% 7/13/22 $1 PV ON 310000.0000 7/13/2018 3133EHRD7 SHARES DUE 7/13/2018 - - - - - 549.57 - - - 7/13/2018 7/13/2018 7/13/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 549.57 1.00 - - - (549.57) 549.57 - - INTEREST EARNED ON AMERICAN EXPRESS 1.640% 12/15/21 $1 PV ON 7/16/2018 02582JHG8 420000.0000 SHARES DUE 7/15/2018 - - - - - 574.00 - - - AMORTIZED PREMIUM ON CHASE ISSUANCE TRUST 1.370% 6/15/21 CURRENT 7/16/2018 161571HC1 YEAR AMORTIZATION ------(3.79) - - INTEREST EARNED ON CHASE ISSUANCE TRUST 1.370% 6/15/21 $1 PV ON 7/16/2018 161571HC1 750000.0000 SHARES DUE 7/15/2018 - - - - - 856.25 - - - 7/16/2018 7/16/2018 7/16/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 1,430.25 1.00 - - - (1,430.25) 1,430.25 - - 7/16/2018 7/16/2018 7/16/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (226,782.98) 1.00 - - - 226,782.98 (226,782.98) - - INTEREST EARNED ON JOHN DEERE OWNER 1.780% 4/15/21 $1 PV ON 459.8300 7/16/2018 47787XAC1 SHARES DUE 7/15/2018 $0.00148/PV ON 310,000.00 PV DUE 7/15/18 - - - - - 459.83 - - - INTEREST EARNED ON MERCEDES BENZ AUTO 1.790% 4/15/20 $1 PV ON 7/16/2018 58769DAD2 551.9200 SHARES DUE 7/15/2018 $0.00149/PV ON 370,000.00 PV DUE 7/15/18 - - - - - 551.92 - - -

28 Page 25 of 32 Payden & Rygel Operating Portfolio Transaction Report Quarter ended September 30, 2018 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Short Term Long Term Transaction Settlement Miscellaneous Federal Tax Cost Gain/Loss Gain/Loss Date Trade Date Date CUSIP Description Units Price Commissions SEC Fees Fees Net Cash Amount Amount Amount Amount INTEREST EARNED ON NISSAN AUTO LEASE 2.050% 9/15/20 $1 PV ON 375.8300 7/16/2018 65479BAD2 SHARES DUE 7/15/2018 $0.00171/PV ON 220,000.00 PV DUE 7/15/18 - - - - - 375.83 - - - AMORTIZED PREMIUM ON ORACLE CORP 2.375% 1/15/19 CURRENT YEAR 7/16/2018 68389XAQ8 AMORTIZATION ------(2,043.45) - - INTEREST EARNED ON ORACLE CORP 2.375% 1/15/19 $1 PV ON 500000.0000 7/16/2018 68389XAQ8 SHARES DUE 7/15/2018 - - - - - 5,937.50 - - - 7/16/2018 7/15/2018 7/16/2018 80284TAF2 PAID DOWN PAR VALUE OF SANTANDER DRIVE 1.770% 9/15/20 (13,863.59) 7.08 - - - 13,863.59 (13,863.49) - 0.10 INTEREST EARNED ON SANTANDER DRIVE 1.770% 9/15/20 $1 PV ON 162.2500 7/16/2018 80284TAF2 SHARES DUE 7/15/2018 $0.00148/PV ON 110,000.00 PV DUE 7/15/18 - - - - - 162.25 - - - INTEREST EARNED ON TOYOTA AUTO 1.760% 7/15/21 $1 PV ON 762.6700 7/16/2018 89190BAD0 SHARES DUE 7/15/2018 $0.00147/PV ON 520,000.00 PV DUE 7/15/18 - - - - - 762.67 - - - INTEREST EARNED ON TOYOTA AUTO 1.730% 2/16/21 $1 PV ON 542.0700 7/16/2018 89238MAD0 SHARES DUE 7/15/2018 $0.00144/PV ON 376,000.00 PV DUE 7/15/18 - - - - - 542.07 - - - INTEREST EARNED ON USAA AUTO OWNER 1.700% 5/17/21 $1 PV ON 198.3300 7/16/2018 90290AAC1 SHARES DUE 7/15/2018 $0.00142/PV ON 140,000.00 PV DUE 7/15/18 - - - - - 198.33 - - -

7/16/2018 7/16/2018 912828Y20 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.625% 7/15/21 - - - - - (17.83) - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.625% 7/15/21 /CITADEL 7/16/2018 7/11/2018 7/16/2018 912828Y20 SECURITIES LLC/250,000 PAR VALUE AT 99.847656 % 250,000.00 1.00 - - - (249,619.14) 249,619.14 - - INTEREST EARNED ON CITIBANK CREDIT CARD 1.740% 1/19/21 $1 PV ON 7/17/2018 17305EGA7 380000.0000 SHARES DUE 7/17/2018 - - - - - 3,306.00 - - - 7/17/2018 7/17/2018 7/17/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 3,306.00 1.00 - - - (3,306.00) 3,306.00 - - 7/18/2018 7/18/2018 7/18/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 505,097.64 1.00 - - - (505,097.64) 505,097.64 - - INTEREST EARNED ON HONDA AUTO 1.790% 9/20/21 $1 PV ON 223.7500 7/18/2018 43814PAC4 SHARES DUE 7/18/2018 $0.00149/PV ON 150,000.00 PV DUE 7/18/18 - - - - - 223.75 - - - SOLD PAR VALUE OF WELLS FARGO MTN 2.67519% 12/06/19 /DAIWA CAPITAL 7/18/2018 7/16/2018 7/18/2018 94988J5J2 MARKETS AMERICA/XOTC 500,000 PAR VALUE AT 100.629 % (500,000.00) 1.01 - - - 503,145.00 (503,280.56) (135.56) - AMORTIZED PREMIUM ON WELLS FARGO MTN 2.67519% 12/06/19 CURRENT 7/18/2018 94988J5J2 YEAR AMORTIZATION ------(268.21) - - RECEIVED ACCRUED INTEREST ON SALE OF WELLS FARGO MTN 2.67519% 7/18/2018 7/18/2018 94988J5J2 12/06/19 - - - - - 1,728.89 - - - INTEREST EARNED ON BMW VEHICLE LEASE 2.070% 10/20/20 $1 PV ON 172.5000 7/20/2018 05584PAD9 SHARES DUE 7/20/2018 $0.00173/PV ON 100,000.00 PV DUE 7/20/18 - - - - - 172.50 - - - 7/20/2018 7/20/2018 7/20/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 172.50 1.00 - - - (172.50) 172.50 - - 7/23/2018 7/23/2018 7/23/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (497,003.75) 1.00 - - - 497,003.75 (497,003.75) - - INTEREST EARNED ON US BANK NA MTN 2.350% 1/23/20 $1 PV ON 255000.0000 7/23/2018 90331HNJ8 SHARES DUE 7/23/2018 - - - - - 2,996.25 - - - PURCHASED PAR VALUE OF WELLS FARGO MTN 2.84706% 7/23/21 /WELLS 7/23/2018 7/16/2018 7/23/2018 94988J5Q6 FARGO SECURITIES, LLC/500,000 PAR VALUE AT 100 % 500,000.00 1.00 - - - (500,000.00) 500,000.00 - - INTEREST EARNED ON F F C B DEB 2.10113% 8/24/20 $1 PV ON 130000.0000 7/24/2018 3133EHVR1 SHARES DUE 7/24/2018 - - - - - 227.62 - - - 7/24/2018 7/24/2018 7/24/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 227.62 1.00 - - - (227.62) 227.62 - - 7/24/2018 7/24/2018 7/24/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 3,790.69 1.00 - - - (3,790.69) 3,790.69 - - AMORTIZED PREMIUM ON US BANCORP MTN 3.000% 1/24/22 CURRENT YEAR 7/24/2018 91159HHQ6 AMORTIZATION ------(286.61) - - INTEREST EARNED ON US BANCORP MTN 3.000% 1/24/22 $1 PV ON 7/24/2018 91159HHQ6 500000.0000 SHARES DUE 7/24/2018 - - - - - 3,790.69 - - - TRUST FEES COLLECTED CHARGED FOR PERIOD 06/01/2018 THRU 06/30/2018 7/25/2018 COLLECTED BY DISBURSEMENT - - - - - (531.24) - - - 7/25/2018 7/25/2018 7/25/2018 05582QAD9 PAID DOWN PAR VALUE OF BMW VEHICLE OWNER 1.160% 11/25/20 (32,796.59) - - - - 32,796.59 (32,796.44) - 0.15 INTEREST EARNED ON BMW VEHICLE OWNER 1.160% 11/25/20 $1 PV ON 7/25/2018 05582QAD9 371.0700 SHARES DUE 7/25/2018 $0.00097/PV ON 383,866.93 PV DUE 7/25/18 - - - - - 371.07 - - - INTEREST EARNED ON F F C B DEB 2.09113% 6/25/20 $1 PV ON 510000.0000 7/25/2018 3133EHRZ8 SHARES DUE 7/25/2018 - - - - - 888.73 - - - 7/25/2018 7/25/2018 7/25/2018 3136AMTM1 PAID DOWN PAR VALUE OF F N M A GTD REMIC 1.858% 9/25/18 (30,346.23) - - - - 30,346.23 (30,338.46) - 7.77 INTEREST EARNED ON F N M A GTD REMIC 1.858% 9/25/18 $1 PV ON 77.5500 7/25/2018 3136AMTM1 SHARES DUE 7/25/2018 $0.00180/PV ON 43,130.07 PV DUE 7/25/18 - - - - - 77.55 - - - AMORTIZED PREMIUM ON F N M A GTD REMIC 3.560% 9/25/21 CURRENT YEAR 7/25/2018 3136B1XP4 AMORTIZATION ------(105.53) - - INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV ON 652.6700 7/25/2018 3136B1XP4 SHARES DUE 7/25/2018 $0.00297/PV ON 220,000.00 PV DUE 7/25/18 - - - - - 652.67 - - - 7/25/2018 7/25/2018 7/25/2018 3137BNN26 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.780% 7/25/19 (104.51) - - - - 104.51 (104.83) - (0.32) AMORTIZED PREMIUM ON F H L M C MLTCL MTG 1.780% 7/25/19 CURRENT YEAR 7/25/2018 3137BNN26 AMORTIZATION ------(13.80) - - INTEREST EARNED ON F H L M C MLTCL MTG 1.780% 7/25/19 $1 PV ON 80.9100 7/25/2018 3137BNN26 SHARES DUE 7/25/2018 $0.00148/PV ON 54,544.21 PV DUE 7/25/18 - - - - - 80.91 - - - 7/25/2018 7/25/2018 7/25/2018 3137BPCF4 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.376% 10/25/20 (36,610.47) - - - - 36,610.47 (36,610.18) - 0.29 INTEREST EARNED ON F H L M C MLTCL MTG 1.376% 10/25/20 $1 PV ON 197.1500 7/25/2018 3137BPCF4 SHARES DUE 7/25/2018 $0.00115/PV ON 171,932.94 PV DUE 7/25/18 - - - - - 197.15 - - - 7/25/2018 7/25/2018 7/25/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 101,594.64 1.00 - - - (101,594.64) 101,594.64 - - 7/26/2018 7/26/2018 7/26/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 1,814,096.48 1.00 - - - (1,814,096.48) 1,814,096.48 - -

7/26/2018 7/26/2018 9128282X7 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.375% 9/30/19 - - - - - 8,043.75 - - - SOLD PAR VALUE OF U S TREASURY NT 1.375% 9/30/19 /CITIGROUP GLOBAL 7/26/2018 7/25/2018 7/26/2018 9128282X7 MARKETS INC./XOTC 1,830,000 PAR VALUE AT 98.691406 % (1,830,000.00) 0.99 - - - 1,806,052.73 (1,827,191.74) (21,139.01) - 7/31/2018 7/31/2018 7/31/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (1,800,055.86) 1.00 - - - 1,800,055.86 (1,800,055.86) - - 29 Page 26 of 32 Payden & Rygel Operating Portfolio Transaction Report Quarter ended September 30, 2018 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Short Term Long Term Transaction Settlement Miscellaneous Federal Tax Cost Gain/Loss Gain/Loss Date Trade Date Date CUSIP Description Units Price Commissions SEC Fees Fees Net Cash Amount Amount Amount Amount INTEREST EARNED ON U S TREASURY NT 2.000% 1/31/20 $1 PV ON 7/31/2018 9128283S7 2830000.0000 SHARES DUE 7/31/2018 - - - - - 28,300.00 - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.625% 7/31/20 /CITIGROUP 7/31/2018 7/25/2018 7/31/2018 912828Y46 GLOBAL MARKETS INC./1,830,000 PAR VALUE AT 99.91015628 % 1,830,000.00 1.00 - - - (1,828,355.86) 1,828,355.86 - - INTEREST EARNED ON F F C B DEB 2.16213% 8/01/22 $1 PV ON 230000.0000 8/1/2018 3133EHTJ2 SHARES DUE 8/1/2018 - - - - - 428.22 - - - 8/1/2018 8/1/2018 8/1/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 15,198.95 1.00 - - - (15,198.95) 15,198.95 - - INTEREST EARNED ON FIRST AM GOVT OB FD CL Y UNIT ON 0.0000 SHARES DUE 8/1/2018 31846V203 7/31/2018 INTEREST FROM 7/1/18 TO 7/31/18 - - - - - 638.60 - - - INTEREST EARNED ON PALO ALTO CA 2.291% 8/01/20 $1 PV ON 325000.0000 8/1/2018 697379UD5 SHARES DUE 8/1/2018 - - - - - 3,722.88 - - - INTEREST EARNED ON SAN FRANCISCO CITY 2.000% 8/01/20 $1 PV ON 8/1/2018 79770GGM2 300000.0000 SHARES DUE 8/1/2018 - - - - - 3,000.00 - - - INTEREST EARNED ON SAN JOSE CA 2.098% 8/01/19 $1 PV ON 320000.0000 8/1/2018 798170AB2 SHARES DUE 8/1/2018 - - - - - 3,356.80 - - - INTEREST EARNED ON SAN JOSE CA REDEV 2.259% 8/01/20 $1 PV ON 8/1/2018 798170AC0 190000.0000 SHARES DUE 8/1/2018 - - - - - 2,146.05 - - - AMORTIZED PREMIUM ON TEXAS ST REF WTR 2.036% 8/01/20 CURRENT YEAR 8/1/2018 882723UC1 AMORTIZATION ------(281.59) - - INTEREST EARNED ON TEXAS ST REF WTR 2.036% 8/01/20 $1 PV ON 8/1/2018 882723UC1 250000.0000 SHARES DUE 8/1/2018 - - - - - 2,545.00 - - - INTEREST EARNED ON F N M A 0.875% 8/02/19 $1 PV ON 530000.0000 8/2/2018 3135G0N33 SHARES DUE 8/2/2018 - - - - - 2,318.75 - - - 8/2/2018 8/2/2018 8/2/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 2,957.35 1.00 - - - (2,957.35) 2,957.35 - - INTEREST EARNED ON F F C B 2.16725% 9/06/22 $1 PV ON 260000.0000 8/6/2018 3133EHXH1 SHARES DUE 8/6/2018 - - - - - 485.22 - - - 8/6/2018 8/6/2018 8/6/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 5,110.22 1.00 - - - (5,110.22) 5,110.22 - - INTEREST EARNED ON MICROSOFT CORP 1.850% 2/06/20 $1 PV ON 8/6/2018 594918BV5 500000.0000 SHARES DUE 8/6/2018 - - - - - 4,625.00 - - - INTEREST EARNED ON F H L B DEB 2.125% 2/11/20 $1 PV ON 800000.0000 8/13/2018 3130ADN32 SHARES DUE 8/11/2018 - - - - - 8,594.44 - - - INTEREST EARNED ON F F C B 2.0875% 12/11/20 $1 PV ON 510000.0000 8/13/2018 3133EH2J1 SHARES DUE 8/11/2018 - - - - - 916.76 - - - INTEREST EARNED ON F F C B DEB 2.15425% 7/13/22 $1 PV ON 310000.0000 8/13/2018 3133EHRD7 SHARES DUE 8/13/2018 - - - - - 575.07 - - - 8/13/2018 8/13/2018 8/13/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 916.76 1.00 - - - (916.76) 916.76 - - 8/13/2018 8/13/2018 8/13/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 128,220.20 1.00 - - - (128,220.20) 128,220.20 - - RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.500% 8/13/2018 8/13/2018 912828F62 10/31/19 - - - - - 513.59 - - - SOLD PAR VALUE OF U S TREASURY NT 1.500% 10/31/19 /HSBC SECURITIES, 8/13/2018 8/10/2018 8/13/2018 912828F62 INC./120,000 PAR VALUE AT 98.780917 % (120,000.00) 0.99 - - - 118,537.10 (119,821.14) (1,284.04) - PURCHASED PAR VALUE OF F H L M C MLTCL 2.28138% 2/25/23 /J.P. MORGAN 8/14/2018 8/1/2018 8/14/2018 3137FGZN8 SECURITIES LLC/240,000 PAR VALUE AT 100 % 240,000.00 1.00 - - - (240,000.00) 240,000.00 - - 8/14/2018 8/14/2018 8/14/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (240,000.00) 1.00 - - - 240,000.00 (240,000.00) - - INTEREST EARNED ON AMERICAN EXPRESS 1.640% 12/15/21 $1 PV ON 8/15/2018 02582JHG8 420000.0000 SHARES DUE 8/15/2018 - - - - - 574.00 - - - INTEREST EARNED ON BERKSHIRE HATHAWAY 1.300% 8/15/19 $1 PV ON 8/15/2018 084664CK5 160000.0000 SHARES DUE 8/15/2018 - - - - - 1,040.00 - - - AMORTIZED PREMIUM ON CHASE ISSUANCE TRUST 1.370% 6/15/21 CURRENT 8/15/2018 161571HC1 YEAR AMORTIZATION ------(3.29) - - INTEREST EARNED ON CHASE ISSUANCE TRUST 1.370% 6/15/21 $1 PV ON 8/15/2018 161571HC1 750000.0000 SHARES DUE 8/15/2018 - - - - - 856.25 - - - AMORTIZED PREMIUM ON CISCO SYSTEMS INC 4.950% 2/15/19 CURRENT YEAR 8/15/2018 17275RAE2 AMORTIZATION ------(5,883.98) - - INTEREST EARNED ON CISCO SYSTEMS INC 4.950% 2/15/19 $1 PV ON 8/15/2018 17275RAE2 360000.0000 SHARES DUE 8/15/2018 - - - - - 8,910.00 - - - 8/15/2018 8/15/2018 8/15/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 1,430.25 1.00 - - - (1,430.25) 1,430.25 - - 8/15/2018 8/15/2018 8/15/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 50,669.72 1.00 - - - (50,669.72) 50,669.72 - - INTEREST EARNED ON JOHN DEERE OWNER 1.780% 4/15/21 $1 PV ON 459.8300 8/15/2018 47787XAC1 SHARES DUE 8/15/2018 $0.00148/PV ON 310,000.00 PV DUE 8/15/18 - - - - - 459.83 - - - INTEREST EARNED ON MERCEDES BENZ AUTO 1.790% 4/15/20 $1 PV ON 8/15/2018 58769DAD2 551.9200 SHARES DUE 8/15/2018 $0.00149/PV ON 370,000.00 PV DUE 8/15/18 - - - - - 551.92 - - - AMORTIZED PREMIUM ON NEW YORK ST SER B 3.600% 2/15/19 CURRENT YEAR 8/15/2018 649791EV8 AMORTIZATION ------(2,372.83) - - INTEREST EARNED ON NEW YORK ST SER B 3.600% 2/15/19 $1 PV ON 8/15/2018 649791EV8 250000.0000 SHARES DUE 8/15/2018 - - - - - 4,500.00 - - - INTEREST EARNED ON NISSAN AUTO LEASE 2.050% 9/15/20 $1 PV ON 375.8300 8/15/2018 65479BAD2 SHARES DUE 8/15/2018 $0.00171/PV ON 220,000.00 PV DUE 8/15/18 - - - - - 375.83 - - - 8/15/2018 8/15/2018 8/15/2018 80284TAF2 PAID DOWN PAR VALUE OF SANTANDER DRIVE 1.770% 9/15/20 (22,252.27) - - - - 22,252.27 (22,252.12) - 0.15 INTEREST EARNED ON SANTANDER DRIVE 1.770% 9/15/20 $1 PV ON 141.8000 8/15/2018 80284TAF2 SHARES DUE 8/15/2018 $0.00148/PV ON 96,136.41 PV DUE 8/15/18 - - - - - 141.80 - - - INTEREST EARNED ON TOYOTA AUTO 1.760% 7/15/21 $1 PV ON 762.6700 8/15/2018 89190BAD0 SHARES DUE 8/15/2018 $0.00147/PV ON 520,000.00 PV DUE 8/15/18 - - - - - 762.67 - - - INTEREST EARNED ON TOYOTA AUTO 1.730% 2/16/21 $1 PV ON 542.0700 8/15/2018 89238MAD0 SHARES DUE 8/15/2018 $0.00144/PV ON 376,000.00 PV DUE 8/15/18 - - - - - 542.07 - - -

30 Page 27 of 32 Payden & Rygel Operating Portfolio Transaction Report Quarter ended September 30, 2018 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Short Term Long Term Transaction Settlement Miscellaneous Federal Tax Cost Gain/Loss Gain/Loss Date Trade Date Date CUSIP Description Units Price Commissions SEC Fees Fees Net Cash Amount Amount Amount Amount INTEREST EARNED ON USAA AUTO OWNER 1.700% 5/17/21 $1 PV ON 198.3300 8/15/2018 90290AAC1 SHARES DUE 8/15/2018 $0.00142/PV ON 140,000.00 PV DUE 8/15/18 - - - - - 198.33 - - - INTEREST EARNED ON U S TREASURY NT 1.500% 8/15/20 $1 PV ON 8/15/2018 9128282Q2 1458000.0000 SHARES DUE 8/15/2018 - - - - - 10,935.00 - - - INTEREST EARNED ON F H L M C M T N 2.375% 2/16/21 $1 PV ON 510000.0000 8/16/2018 3137EAEL9 SHARES DUE 8/16/2018 - - - - - 6,056.25 - - - 8/16/2018 8/16/2018 8/16/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 6,056.25 1.00 - - - (6,056.25) 6,056.25 - - INTEREST EARNED ON BMW VEHICLE LEASE 2.070% 10/20/20 $1 PV ON 172.5000 8/20/2018 05584PAD9 SHARES DUE 8/20/2018 $0.00173/PV ON 100,000.00 PV DUE 8/20/18 - - - - - 172.50 - - - 8/20/2018 8/20/2018 8/20/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 10,443.25 1.00 - - - (10,443.25) 10,443.25 - - INTEREST EARNED ON HONDA AUTO 1.790% 9/20/21 $1 PV ON 223.7500 8/20/2018 43814PAC4 SHARES DUE 8/18/2018 $0.00149/PV ON 150,000.00 PV DUE 8/18/18 - - - - - 223.75 - - - AMORTIZED PREMIUM ON STATE STREET CORP 2.550% 8/18/20 CURRENT YEAR 8/20/2018 857477AS2 AMORTIZATION ------(1,502.93) - - INTEREST EARNED ON STATE STREET CORP 2.550% 8/18/20 $1 PV ON 8/20/2018 857477AS2 788000.0000 SHARES DUE 8/18/2018 - - - - - 10,047.00 - - - 8/21/2018 8/21/2018 3130ADN32 RECEIVED ACCRUED INTEREST ON SALE OF F H L B DEB 2.125% 2/11/20 - - - - - 472.22 - - - SOLD PAR VALUE OF F H L B DEB 2.125% 2/11/20 /J.P. MORGAN SECURITIES 8/21/2018 8/20/2018 8/21/2018 3130ADN32 LLC/800,000 PAR VALUE AT 99.34 % (800,000.00) 0.99 - - - 794,720.00 (798,536.00) (3,816.00) - 8/21/2018 8/21/2018 8/21/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (170,291.63) 1.00 - - - 170,291.63 (170,291.63) - - 8/21/2018 8/21/2018 8/21/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 162,937.65 1.00 - - - (162,937.65) 162,937.65 - -

8/21/2018 8/21/2018 9128284W7 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.750% 8/15/21 - - - - - (358.70) - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.750% 8/15/21 /J.P. MORGAN 8/21/2018 8/20/2018 8/21/2018 9128284W7 SECURITIES LLC/800,000 PAR VALUE AT 100.2734375 % 800,000.00 1.00 - - - (802,187.50) 802,187.50 - - 8/22/2018 8/22/2018 3130ACE26 RECEIVED ACCRUED INTEREST ON SALE OF F H L B 1.375% 9/28/20 - - - - - 1,980.00 - - - SOLD PAR VALUE OF F H L B 1.375% 9/28/20 /DEUTSCHE BANK 8/22/2018 8/21/2018 8/22/2018 3130ACE26 SECURITIES, INC./360,000 PAR VALUE AT 97.426003 % (360,000.00) 0.97 - - - 350,733.61 (358,844.40) (8,110.79) - 8/22/2018 8/22/2018 8/22/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 154,605.13 1.00 - - - (154,605.13) 154,605.13 - - 8/22/2018 8/22/2018 8/22/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (162,937.65) 1.00 - - - 162,937.65 (162,937.65) - -

8/22/2018 8/22/2018 9128284W7 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.750% 8/15/21 - - - - - (188.32) - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.750% 8/15/21 /NATWEST 8/22/2018 8/21/2018 8/22/2018 9128284W7 MKTS SECS/FIXED INCOME/360,000 PAR VALUE AT 100.23828056 % 360,000.00 1.00 - - - (360,857.81) 360,857.81 - - INTEREST EARNED ON APPLE INC 2.250% 2/23/21 $1 PV ON 500000.0000 8/23/2018 037833BS8 SHARES DUE 8/23/2018 - - - - - 5,625.00 - - - 8/23/2018 8/23/2018 8/23/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 5,625.00 1.00 - - - (5,625.00) 5,625.00 - - INTEREST EARNED ON F F C B DEB 2.079% 8/24/20 $1 PV ON 130000.0000 8/24/2018 3133EHVR1 SHARES DUE 8/24/2018 - - - - - 232.73 - - - 8/24/2018 8/24/2018 8/24/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 501,559.19 1.00 - - - (501,559.19) 501,559.19 - -

8/24/2018 8/24/2018 68389XAQ8 RECEIVED ACCRUED INTEREST ON SALE OF ORACLE CORP 2.375% 1/15/19 - - - - - 1,286.46 - - - SOLD PAR VALUE OF ORACLE CORP 2.375% 1/15/19 /MARKETAXESS 8/24/2018 8/22/2018 8/24/2018 68389XAQ8 CORP/500,000 PAR VALUE AT 100.008 % (500,000.00) 1.00 - - - 500,040.00 (501,608.39) - (1,568.39) AMORTIZED PREMIUM ON ORACLE CORP 2.375% 1/15/19 CURRENT YEAR 8/24/2018 68389XAQ8 AMORTIZATION ------(451.33) - - TRUST FEES COLLECTED CHARGED FOR PERIOD 07/01/2018 THRU 07/31/2018 8/27/2018 COLLECTED BY DISBURSEMENT - - - - - (531.58) - - - 8/27/2018 8/25/2018 8/27/2018 05582QAD9 PAID DOWN PAR VALUE OF BMW VEHICLE OWNER 1.160% 11/25/20 (32,920.50) - - - - 32,920.50 (32,920.35) - 0.15 INTEREST EARNED ON BMW VEHICLE OWNER 1.160% 11/25/20 $1 PV ON 8/27/2018 05582QAD9 339.3700 SHARES DUE 8/25/2018 $0.00097/PV ON 351,070.34 PV DUE 8/25/18 - - - - - 339.37 - - - 8/27/2018 8/27/2018 3130ADUJ9 RECEIVED ACCRUED INTEREST ON SALE OF F H L B DEB 2.375% 3/30/20 - - - - - 9,878.02 - - - SOLD PAR VALUE OF F H L B DEB 2.375% 3/30/20 /CITIGROUP GLOBAL 8/27/2018 8/23/2018 8/27/2018 3130ADUJ9 MARKETS INC./930,000 PAR VALUE AT 99.653 % (930,000.00) 1.00 - - - 926,772.90 (929,832.60) (3,059.70) - INTEREST EARNED ON F F C B DEB 2.06363% 6/25/20 $1 PV ON 510000.0000 8/27/2018 3133EHRZ8 SHARES DUE 8/25/2018 - - - - - 906.28 - - - PURCHASED PAR VALUE OF F H L M C M T N 2.900% 8/27/21 /CITIGROUP 8/27/2018 8/22/2018 8/27/2018 3134GSWC5 GLOBAL MARKETS INC./510,000 PAR VALUE AT 100 % 510,000.00 1.00 - - - (510,000.00) 510,000.00 - - 8/27/2018 8/25/2018 8/27/2018 3136AMTM1 PAID DOWN PAR VALUE OF F N M A GTD REMIC 1.858% 9/25/18 (6,021.61) - - - - 6,021.61 (6,020.07) - 1.54 INTEREST EARNED ON F N M A GTD REMIC 1.858% 9/25/18 $1 PV ON 25.2600 8/27/2018 3136AMTM1 SHARES DUE 8/25/2018 $0.00198/PV ON 12,783.84 PV DUE 8/25/18 - - - - - 25.26 - - - PAID DOWN PAR VALUE OF F N M A GTD REMIC 3.560% 9/25/21 8/25/18 PRIN AND 8/27/2018 8/25/2018 8/27/2018 3136B1XP4 INT PYMT (6,285.97) 85.43 - - - 6,285.97 (6,399.24) (113.27) - INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV ON 652.6700 8/27/2018 3136B1XP4 SHARES DUE 8/25/2018 $0.00297/PV ON 220,000.00 PV DUE 8/25/18 - - - - - 652.67 - - - AMORTIZED PREMIUM ON F N M A GTD REMIC 3.560% 9/25/21 CURRENT YEAR 8/27/2018 3136B1XP4 AMORTIZATION ------(109.05) - - INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV ON 8/27/2018 3136B1XP4 220000.0000 SHARES DUE 8/25/2018 8/25/18 PEN PYMT - - - - - 22.26 - - - 8/27/2018 8/25/2018 8/27/2018 3137BNN26 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.780% 7/25/19 (3,083.93) - - - - 3,083.93 (3,092.62) - (8.69) AMORTIZED PREMIUM ON F H L M C MLTCL MTG 1.780% 7/25/19 CURRENT YEAR 8/27/2018 3137BNN26 AMORTIZATION ------(14.23) - - INTEREST EARNED ON F H L M C MLTCL MTG 1.780% 7/25/19 $1 PV ON 80.7500 8/27/2018 3137BNN26 SHARES DUE 8/25/2018 $0.00148/PV ON 54,439.70 PV DUE 8/25/18 - - - - - 80.75 - - - INTEREST EARNED ON F H L M C MLTCL MTG 1.376% 10/25/20 $1 PV ON 155.1700 8/27/2018 3137BPCF4 SHARES DUE 8/25/2018 $0.00115/PV ON 135,322.47 PV DUE 8/25/18 - - - - - 155.17 - - - 31 Page 28 of 32 Payden & Rygel Operating Portfolio Transaction Report Quarter ended September 30, 2018 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Short Term Long Term Transaction Settlement Miscellaneous Federal Tax Cost Gain/Loss Gain/Loss Date Trade Date Date CUSIP Description Units Price Commissions SEC Fees Fees Net Cash Amount Amount Amount Amount 8/27/2018 8/25/2018 8/27/2018 3137BPCF4 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.376% 10/25/20 (50,296.29) - - - - 50,296.29 (50,295.89) - 0.40 8/27/2018 8/27/2018 8/27/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 60,577.04 1.00 - - - (60,577.04) 60,577.04 - - 8/27/2018 8/27/2018 8/27/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 466,332.36 1.00 - - - (466,332.36) 466,332.36 - - PURCHASED PAR VALUE OF BANK OF AMERICA NA 25.6138% 8/28/20 /MLPFS 8/28/2018 8/22/2018 8/28/2018 06050TMH2 INC/FIXED INCOME/410,000 PAR VALUE AT 100 % 410,000.00 1.00 - - - (410,000.00) 410,000.00 - - INTEREST EARNED ON F N M A DEB 1.500% 2/28/20 $1 PV ON 300000.0000 8/28/2018 3135G0T29 SHARES DUE 8/28/2018 - - - - - 2,250.00 - - - 8/28/2018 8/28/2018 8/28/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (407,750.00) 1.00 - - - 407,750.00 (407,750.00) - - 8/31/2018 8/31/2018 8/31/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (716,315.63) 1.00 - - - 716,315.63 (716,315.63) - - AMORTIZED PREMIUM ON U S TREASURY NT 2.250% 2/29/20 CURRENT YEAR 8/31/2018 9128283Y4 AMORTIZATION ------(4.56) - - INTEREST EARNED ON U S TREASURY NT 2.250% 2/29/20 $1 PV ON 8/31/2018 9128283Y4 265000.0000 SHARES DUE 8/31/2018 - - - - - 2,981.25 - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.625% 8/31/20 /J.P. MORGAN 8/31/2018 8/29/2018 8/31/2018 9128284Y3 SECURITIES LLC/720,000 PAR VALUE AT 99.90234444 % 720,000.00 1.00 - - - (719,296.88) 719,296.88 - - AMORTIZED PREMIUM ON CALIFORNIA ST BUILD 6.650% 3/01/22 CURRENT YEAR 9/4/2018 13063BFS6 AMORTIZATION ------(7,709.84) - - INTEREST EARNED ON CALIFORNIA ST BUILD 6.650% 3/01/22 $1 PV ON 9/4/2018 13063BFS6 425000.0000 SHARES DUE 9/1/2018 - - - - - 14,131.25 - - - AMORTIZED PREMIUM ON CHEVRON CORP 2.91461% 3/03/22 CURRENT YEAR 9/4/2018 166764AU4 AMORTIZATION ------(296.74) - - INTEREST EARNED ON CHEVRON CORP 2.91461% 3/03/22 $1 PV ON 9/4/2018 166764AU4 500000.0000 SHARES DUE 9/3/2018 - - - - - 3,643.26 - - - INTEREST EARNED ON EXXON MOBIL 2.222% 3/01/21 $1 PV ON 500000.0000 9/4/2018 30231GAV4 SHARES DUE 9/1/2018 - - - - - 5,555.00 - - - INTEREST EARNED ON F F C B DEB 2.1515% 8/01/22 $1 PV ON 230000.0000 9/4/2018 3133EHTJ2 SHARES DUE 9/1/2018 - - - - - 426.12 - - - 9/4/2018 9/4/2018 9/4/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 38,445.43 1.00 - - - (38,445.43) 38,445.43 - - INTEREST EARNED ON FIRST AM GOVT OB FD CL Y UNIT ON 0.0000 SHARES DUE 9/4/2018 31846V203 8/31/2018 INTEREST FROM 8/1/18 TO 8/31/18 - - - - - 416.20 - - - AMORTIZED PREMIUM ON INLAND VLY CA DEV 3.627% 3/01/20 CURRENT YEAR 9/4/2018 45750TAG8 AMORTIZATION ------(413.73) - - INTEREST EARNED ON INLAND VLY CA DEV 3.627% 3/01/20 $1 PV ON 9/4/2018 45750TAG8 230000.0000 SHARES DUE 9/1/2018 - - - - - 4,171.05 - - - INTEREST EARNED ON LOS ANGELES CA 1.125% 9/01/19 $1 PV ON 9/4/2018 54465AGK2 270000.0000 SHARES DUE 9/1/2018 - - - - - 1,518.75 - - - AMORTIZED PREMIUM ON NEW YORK ST REF SER 3.600% 9/01/19 CURRENT 9/4/2018 649791EJ5 YEAR AMORTIZATION ------(4,805.76) - - INTEREST EARNED ON NEW YORK ST REF SER 3.600% 9/01/19 $1 PV ON 9/4/2018 649791EJ5 500000.0000 SHARES DUE 9/1/2018 - - - - - 9,000.00 - - - 9/5/2018 9/5/2018 9/5/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (103,078.52) 1.00 - - - 103,078.52 (103,078.52) - - 9/5/2018 9/5/2018 9/5/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 118,844.72 1.00 - - - (118,844.72) 118,844.72 - -

9/5/2018 9/5/2018 9128284W7 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.750% 8/15/21 - - - - - (816.03) - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.750% 8/15/21 /BMO CAPITAL 9/5/2018 9/4/2018 9/5/2018 9128284W7 MARKETS CORP/BONDS/520,000 PAR VALUE AT 100.078125 % 520,000.00 1.00 - - - (520,406.25) 520,406.25 - -

9/5/2018 9/5/2018 9128284Y3 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.625% 8/31/20 - - - - - (561.98) - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.625% 8/31/20 /CITIGROUP 9/5/2018 9/4/2018 9/5/2018 9128284Y3 GLOBAL MARKETS INC./1,550,000 PAR VALUE AT 99.94921871 % 1,550,000.00 1.00 - - - (1,549,212.89) 1,549,212.89 - - RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.500% 9/5/2018 9/5/2018 912828F62 10/31/19 - - - - - 10,956.52 - - - SOLD PAR VALUE OF U S TREASURY NT 1.500% 10/31/19 /BMO CAPITAL 9/5/2018 9/4/2018 9/5/2018 912828F62 MARKETS CORP./2,100,000 PAR VALUE AT 98.828125 % (2,100,000.00) 0.99 - - - 2,075,390.63 (2,095,532.58) (20,141.95) - INTEREST EARNED ON F F C B 2.16019% 9/06/22 $1 PV ON 260000.0000 9/6/2018 3133EHXH1 SHARES DUE 9/6/2018 - - - - - 483.64 - - - 9/6/2018 9/6/2018 9/6/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 243,719.09 1.00 - - - (243,719.09) 243,719.09 - - 9/6/2018 9/6/2018 717081DL4 RECEIVED ACCRUED INTEREST ON SALE OF PFIZER INC 2.100% 5/15/19 - - - - - 1,618.75 - - - SOLD PAR VALUE OF PFIZER INC 2.100% 5/15/19 /CREDIT SUISSE 9/6/2018 9/4/2018 9/6/2018 717081DL4 SECURITIES (USA)/250,000 PAR VALUE AT 99.719 % (250,000.00) 1.00 - - - 249,297.50 (250,759.75) - (1,462.25) AMORTIZED PREMIUM ON PFIZER INC 2.100% 5/15/19 CURRENT YEAR 9/6/2018 717081DL4 AMORTIZATION ------(339.34) - - RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.750% 9/6/2018 9/6/2018 9128283H1 11/30/19 - - - - - 7,239.55 - - - SOLD PAR VALUE OF U S TREASURY NT 1.750% 11/30/19 /CITIGROUP GLOBAL 9/6/2018 9/5/2018 9/6/2018 9128283H1 MARKETS INC./XOTC 1,545,000 PAR VALUE AT 99.034821 % (1,545,000.00) 0.99 - - - 1,530,087.98 (1,542,887.70) (12,799.72) -

9/6/2018 9/6/2018 9128284Y3 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.625% 8/31/20 - - - - - (672.20) - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.625% 8/31/20 /NATWEST 9/6/2018 9/5/2018 9/6/2018 9128284Y3 MKTS SECS/FIXED INCOME/1,545,000 PAR VALUE AT 99.95703107 % 1,545,000.00 1.00 - - - (1,544,336.13) 1,544,336.13 - - 9/7/2018 9/7/2018 9/7/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (249,662.50) 1.00 - - - 249,662.50 (249,662.50) - - PURCHASED PAR VALUE OF PFIZER INC 3.000% 9/15/21 /CREDIT SUISSE 9/7/2018 9/4/2018 9/7/2018 717081EM1 SECURITIES (USA)/250,000 PAR VALUE AT 99.865 % 250,000.00 1.00 - - - (249,662.50) 249,662.50 - - RECEIVED ACCRUED INTEREST ON SALE OF COCA COLA CO THE 1.875% 9/11/2018 9/11/2018 191216BT6 10/27/20 - - - - - 3,489.58 - - -

32 Page 29 of 32 Payden & Rygel Operating Portfolio Transaction Report Quarter ended September 30, 2018 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Short Term Long Term Transaction Settlement Miscellaneous Federal Tax Cost Gain/Loss Gain/Loss Date Trade Date Date CUSIP Description Units Price Commissions SEC Fees Fees Net Cash Amount Amount Amount Amount SOLD PAR VALUE OF COCA COLA CO THE 1.875% 10/27/20 /GOLDMAN SACHS & 9/11/2018 9/7/2018 9/11/2018 191216BT6 CO. LLC/XOTC 500,000 PAR VALUE AT 97.882 % (500,000.00) 0.98 - - - 489,410.00 (500,143.32) - (10,733.32) AMORTIZED PREMIUM ON COCA COLA CO THE 1.875% 10/27/20 CURRENT YEAR 9/11/2018 191216BT6 AMORTIZATION ------(29.33) - - INTEREST EARNED ON F F C B 2.07731% 12/11/20 $1 PV ON 510000.0000 9/11/2018 3133EH2J1 SHARES DUE 9/11/2018 - - - - - 912.29 - - - 9/11/2018 9/11/2018 3135G0N33 RECEIVED ACCRUED INTEREST ON SALE OF F N M A 0.875% 8/02/19 - - - - - 502.40 - - - SOLD PAR VALUE OF F N M A 0.875% 8/02/19 /MORGAN STANLEY & CO. 9/11/2018 9/10/2018 9/11/2018 3135G0N33 LLC/530,000 PAR VALUE AT 98.551 % (530,000.00) 0.99 - - - 522,320.30 (529,109.60) - (6,789.30) 9/11/2018 9/11/2018 9/11/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 442,731.48 1.00 - - - (442,731.48) 442,731.48 - - RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 1.750% 9/11/2018 9/11/2018 9128283H1 11/30/19 - - - - - 4,801.74 - - - SOLD PAR VALUE OF U S TREASURY NT 1.750% 11/30/19 /NATWEST MARKETS 9/11/2018 9/7/2018 9/11/2018 9128283H1 SECURITIES INC/975,000 PAR VALUE AT 98.992188 % (975,000.00) 0.99 - - - 965,173.83 (973,666.99) (8,493.16) -

9/11/2018 9/11/2018 9128284Y3 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.625% 8/31/20 - - - - - (1,232.37) - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.625% 8/31/20 /MLPFS 9/11/2018 9/7/2018 9/11/2018 9128284Y3 INC/FIXED INCOME/1,545,000 PAR VALUE AT 99.84765631 % 1,545,000.00 1.00 - - - (1,542,646.29) 1,542,646.29 - -

9/12/2018 9/12/2018 191216BV1 RECEIVED ACCRUED INTEREST ON SALE OF COCA COLA CO 1.375% 5/30/19 - - - - - 973.96 - - - SOLD PAR VALUE OF COCA COLA CO 1.375% 5/30/19 /MILLENNIUM 9/12/2018 9/10/2018 9/12/2018 191216BV1 ADVISORS, LLC/250,000 PAR VALUE AT 99.215 % (250,000.00) 0.99 - - - 248,037.50 (249,825.00) - (1,787.50) 9/12/2018 9/12/2018 9/12/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (243,044.37) 1.00 - - - 243,044.37 (243,044.37) - - PAID ACCRUED INTEREST ON PURCHASE OF WALMART STORES INC 1.900% 9/12/2018 9/12/2018 931142EA7 12/15/20 - - - - - (2,295.83) - - - PURCHASED PAR VALUE OF WALMART STORES INC 1.900% 12/15/20 /US 9/12/2018 9/10/2018 9/12/2018 931142EA7 BANCORP INVESTMENTS INC./500,000 PAR VALUE AT 97.952 % 500,000.00 0.98 - - - (489,760.00) 489,760.00 - - INTEREST EARNED ON F F C B DEB 2.14731% 7/13/22 $1 PV ON 310000.0000 9/13/2018 3133EHRD7 SHARES DUE 9/13/2018 - - - - - 573.21 - - - 9/13/2018 9/13/2018 9/13/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (254,501.29) 1.00 - - - 254,501.29 (254,501.29) - -

9/13/2018 9/13/2018 9128284W7 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.750% 8/15/21 - - - - - (552.62) - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.750% 8/15/21 /NATWEST 9/13/2018 9/11/2018 9/13/2018 9128284W7 MKTS SECS/FIXED INCOME/255,000 PAR VALUE AT 99.81250196 % 255,000.00 1.00 - - - (254,521.88) 254,521.88 - - 9/14/2018 9/14/2018 9/14/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 72,152.38 1.00 - - - (72,152.38) 72,152.38 - - 9/14/2018 9/14/2018 9/14/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y (58,087.13) 1.00 - - - 58,087.13 (58,087.13) - - PURCHASED PAR VALUE OF 3M COMPANY MTN 3.000% 9/14/21 /CITIGROUP 9/14/2018 9/11/2018 9/14/2018 88579YBA8 GLOBAL MARKETS INC./250,000 PAR VALUE AT 99.795 % 250,000.00 1.00 - - - (249,487.50) 249,487.50 - -

9/14/2018 9/14/2018 9128283Y4 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.250% 2/29/20 - - - - - 230.59 - - - SOLD PAR VALUE OF U S TREASURY NT 2.250% 2/29/20 /BMO CAPITAL 9/14/2018 9/13/2018 9/14/2018 9128283Y4 MARKETS CORP./265,000 PAR VALUE AT 99.366853 % (265,000.00) 0.99 - - - 263,322.16 (265,014.54) (1,692.38) - AMORTIZED PREMIUM ON U S TREASURY NT 2.250% 2/29/20 CURRENT YEAR 9/14/2018 9128283Y4 AMORTIZATION ------(1.60) - - INTEREST EARNED ON AMERICAN EXPRESS 1.640% 12/15/21 $1 PV ON 9/17/2018 02582JHG8 420000.0000 SHARES DUE 9/15/2018 - - - - - 574.00 - - - AMORTIZED PREMIUM ON AUTOMATIC DATA 2.250% 9/15/20 CURRENT YEAR 9/17/2018 053015AD5 AMORTIZATION ------(1,019.89) - - INTEREST EARNED ON AUTOMATIC DATA 2.250% 9/15/20 $1 PV ON 9/17/2018 053015AD5 450000.0000 SHARES DUE 9/15/2018 - - - - - 5,062.50 - - - INTEREST EARNED ON BERKSHIRE HATHAWAY 2.200% 3/15/21 $1 PV ON 9/17/2018 084670BQ0 471000.0000 SHARES DUE 9/15/2018 - - - - - 5,181.00 - - - AMORTIZED PREMIUM ON CHASE ISSUANCE TRUST 1.370% 6/15/21 CURRENT 9/17/2018 161571HC1 YEAR AMORTIZATION ------(2.76) - - INTEREST EARNED ON CHASE ISSUANCE TRUST 1.370% 6/15/21 $1 PV ON 9/17/2018 161571HC1 750000.0000 SHARES DUE 9/15/2018 - - - - - 856.25 - - - 9/17/2018 9/17/2018 9/17/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 36,980.10 1.00 - - - (36,980.10) 36,980.10 - - 9/17/2018 9/17/2018 9/17/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 1,430.25 1.00 - - - (1,430.25) 1,430.25 - - INTEREST EARNED ON JOHN DEERE OWNER 1.780% 4/15/21 $1 PV ON 459.8300 9/17/2018 47787XAC1 SHARES DUE 9/15/2018 $0.00148/PV ON 310,000.00 PV DUE 9/15/18 - - - - - 459.83 - - - INTEREST EARNED ON MERCEDES BENZ AUTO 1.790% 4/15/20 $1 PV ON 9/17/2018 58769DAD2 551.9200 SHARES DUE 9/15/2018 $0.00149/PV ON 370,000.00 PV DUE 9/15/18 - - - - - 551.92 - - - INTEREST EARNED ON NISSAN AUTO LEASE 2.050% 9/15/20 $1 PV ON 375.8300 9/17/2018 65479BAD2 SHARES DUE 9/15/2018 $0.00171/PV ON 220,000.00 PV DUE 9/15/18 - - - - - 375.83 - - - 9/17/2018 9/15/2018 9/17/2018 80284TAF2 PAID DOWN PAR VALUE OF SANTANDER DRIVE 1.770% 9/15/20 (23,736.97) 42.73 - - - 23,736.97 (23,736.81) - 0.16 INTEREST EARNED ON SANTANDER DRIVE 1.770% 9/15/20 $1 PV ON 108.9800 9/17/2018 80284TAF2 SHARES DUE 9/15/2018 $0.00148/PV ON 73,884.14 PV DUE 9/15/18 - - - - - 108.98 - - - INTEREST EARNED ON TOYOTA AUTO 1.760% 7/15/21 $1 PV ON 762.6700 9/17/2018 89190BAD0 SHARES DUE 9/15/2018 $0.00147/PV ON 520,000.00 PV DUE 9/15/18 - - - - - 762.67 - - - INTEREST EARNED ON TOYOTA AUTO 1.730% 2/16/21 $1 PV ON 542.0700 9/17/2018 89238MAD0 SHARES DUE 9/15/2018 $0.00144/PV ON 376,000.00 PV DUE 9/15/18 - - - - - 542.07 - - - INTEREST EARNED ON USAA AUTO OWNER 1.700% 5/17/21 $1 PV ON 198.3300 9/17/2018 90290AAC1 SHARES DUE 9/15/2018 $0.00142/PV ON 140,000.00 PV DUE 9/15/18 - - - - - 198.33 - - - 9/18/2018 9/18/2018 9/18/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 223.75 1.00 - - - (223.75) 223.75 - - INTEREST EARNED ON HONDA AUTO 1.790% 9/20/21 $1 PV ON 223.7500 9/18/2018 43814PAC4 SHARES DUE 9/18/2018 $0.00149/PV ON 150,000.00 PV DUE 9/18/18 - - - - - 223.75 - - - 33 Page 30 of 32 Payden & Rygel Operating Portfolio Transaction Report Quarter ended September 30, 2018 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Short Term Long Term Transaction Settlement Miscellaneous Federal Tax Cost Gain/Loss Gain/Loss Date Trade Date Date CUSIP Description Units Price Commissions SEC Fees Fees Net Cash Amount Amount Amount Amount 9/19/2018 9/19/2018 3130ABMP8 RECEIVED ACCRUED INTEREST ON SALE OF F H L B DEB 2.132% 6/27/19 - - - - - 3,911.34 - - - SOLD PAR VALUE OF F H L B DEB 2.132% 6/27/19 /MORGAN STANLEY & CO. 9/19/2018 9/18/2018 9/19/2018 3130ABMP8 LLC/770,000 PAR VALUE AT 100.0097 % (770,000.00) 1.00 - - - 770,074.69 (769,912.61) - 162.08 09/19/2018 43362 43362 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y -110,786.4800 1.000000 - - - 110,786.48 (110,786.48) - - 09/19/2018 43362 43362 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 116,147.9600 1.000000 - - - (116,147.96) 116,147.96 - -

09/19/2018 43362 9128284Y3 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.625% 8/31/20 0.0000 0.000000 - - - (1,060.88) - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.625% 8/31/20 /MLPFS INC/FIXED 09/19/2018 09/18/2018 09/19/2018 9128284Y3 INCOME/770,000 PAR VALUE AT 99.68359351 % 770,000.0000 0.996836 - - - (767,563.67) 767,563.67 - - INTEREST EARNED ON BMW VEHICLE LEASE 2.070% 10/20/20 $1 PV ON 172.5000 09/20/2018 05584PAD9 SHARES DUE 9/20/2018 $0.00173/PV ON 100,000.00 PV DUE 9/20/18 0.0000 0.000000 - - - 172.50 - - - INTEREST EARNED ON CISCO SYSTEMS INC 1.400% 9/20/19 $1 PV ON 40000.0000 09/20/2018 17275RBG6 SHARES DUE 9/20/2018 0.0000 0.000000 - - - 280.00 - - - 09/20/2018 09/20/2018 09/20/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 452.5000 1.000000 - - - (452.50) 452.50 - - 09/21/2018 09/21/2018 3133EJJD2 RECEIVED ACCRUED INTEREST ON SALE OF F F C B DEB 2.540% 4/05/21 0.0000 0.000000 - - - 5,973.23 - - - SOLD PAR VALUE OF F F C B DEB 2.540% 4/05/21 /HSBC SECURITIES (USA) FXD 09/21/2018 09/20/2018 09/21/2018 3133EJJD2 INC/510,000 PAR VALUE AT 99.093 % -510,000.0000 0.990930 - - - 505,374.30 (510,001.40) (4,627.10) - AMORTIZED PREMIUM ON F F C B DEB 2.540% 4/05/21 CURRENT YEAR 09/21/2018 3133EJJD2 AMORTIZATION 0.0000 0.000000 - - - - (3.70) - - 09/21/2018 09/21/2018 3137EAEK1 RECEIVED ACCRUED INTEREST ON SALE OF F H L M C M T N 1.875% 11/17/20 0.0000 0.000000 - - - 3,552.08 - - - SOLD PAR VALUE OF F H L M C M T N 1.875% 11/17/20 /MORGAN STANLEY & CO. 09/21/2018 09/20/2018 09/21/2018 3137EAEK1 LLC/550,000 PAR VALUE AT 97.986 % -550,000.0000 0.979860 - - - 538,923.00 (549,472.00) (10,549.00) - 09/21/2018 09/21/2018 09/21/2018 31846V203 SOLD UNITS OF FIRST AM GOVT OB FD CL Y -3,283.3200 1.000000 - - - 3,283.32 (3,283.32) - - 09/21/2018 09/21/2018 9128284Y3 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.625% 8/31/20 0.0000 0.000000 - - - (837.53) - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.625% 8/31/20 /MLPFS INC/FIXED 09/21/2018 09/20/2018 09/21/2018 9128284Y3 INCOME/550,000 PAR VALUE AT 99.65234364 % 550,000.0000 0.996523 - - - (548,087.89) 548,087.89 - - 09/21/2018 09/21/2018 9128285A4 PAID ACCRUED INTEREST ON PURCHASE OF U S TREASURY NT 2.750% 9/15/21 0.0000 0.000000 - - - (232.46) - - - PURCHASED PAR VALUE OF U S TREASURY NT 2.750% 9/15/21 /MLPFS INC/FIXED 09/21/2018 09/20/2018 09/21/2018 9128285A4 INCOME/510,000 PAR VALUE AT 99.59765686 % 510,000.0000 0.995977 - - - (507,948.05) 507,948.05 - - INTEREST EARNED ON F F C B DEB 2.076% 8/24/20 $1 PV ON 130000.0000 SHARES 09/24/2018 3133EHVR1 DUE 9/24/2018 0.0000 0.000000 - - - 232.40 - - - 09/24/2018 09/24/2018 09/24/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 6,480.2500 1.000000 - - - (6,480.25) 6,480.25 - - AMORTIZED PREMIUM ON JP MORGAN MTN 2.92506% 9/23/19 CURRENT YEAR 09/24/2018 48125LRJ3 AMORTIZATION 0.0000 0.000000 - - - - (905.68) - - INTEREST EARNED ON JP MORGAN MTN 2.92506% 9/23/19 $1 PV ON 845000.0000 09/24/2018 48125LRJ3 SHARES DUE 9/24/2018 0.0000 0.000000 - - - 6,247.85 - - - TRUST FEES COLLECTED CHARGED FOR PERIOD 08/01/2018 THRU 08/31/2018 09/25/2018 COLLECTED BY DISBURSEMENT 0.0000 0.000000 - - - (533.28) - - - 09/25/2018 09/25/2018 09/25/2018 05582QAD9 PAID DOWN PAR VALUE OF BMW VEHICLE OWNER 1.160% 11/25/20 -30,582.7300 0.000000 - - - 30,582.73 (30,582.59) - 0.14 INTEREST EARNED ON BMW VEHICLE OWNER 1.160% 11/25/20 $1 PV ON 307.5400 09/25/2018 05582QAD9 SHARES DUE 9/25/2018 $0.00097/PV ON 318,149.84 PV DUE 9/25/18 0.0000 0.000000 - - - 307.54 - - - INTEREST EARNED ON F F C B DEB 2.06475% 6/25/20 $1 PV ON 510000.0000 SHARES 09/25/2018 3133EHRZ8 DUE 9/25/2018 0.0000 0.000000 - - - 906.77 - - - 09/25/2018 09/25/2018 09/25/2018 3136AMTM1 PAID DOWN PAR VALUE OF F N M A GTD REMIC 1.858% 9/25/18 -6,762.2300 7,691.397842 - - - 6,762.23 (6,760.49) - 1.74 INTEREST EARNED ON F N M A GTD REMIC 1.858% 9/25/18 $1 PV ON 13.3500 SHARES 09/25/2018 3136AMTM1 DUE 9/25/2018 $0.00197/PV ON 6,762.23 PV DUE 9/25/18 0.0000 0.000000 - - - 13.35 - - - 09/25/2018 09/25/2018 09/25/2018 3136B1XP4 PAID DOWN PAR VALUE OF F N M A GTD REMIC 3.560% 9/25/21 -6,011.7800 0.000000 - - - 6,011.78 (6,117.13) (105.35) - AMORTIZED PREMIUM ON F N M A GTD REMIC 3.560% 9/25/21 CURRENT YEAR 09/25/2018 3136B1XP4 AMORTIZATION 0.0000 0.000000 - - - - (105.93) - - INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV ON 634.0200 09/25/2018 3136B1XP4 SHARES DUE 9/25/2018 $0.00297/PV ON 213,714.03 PV DUE 9/25/18 0.0000 0.000000 - - - 634.02 - - - INTEREST EARNED ON F N M A GTD REMIC 3.560% 9/25/21 $1 PV ON 213714.0300 09/25/2018 3136B1XP4 SHARES DUE 9/25/2018 0.0000 0.000000 - - - 11.45 - - - 09/25/2018 09/25/2018 09/25/2018 3137BNN26 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.780% 7/25/19 -20,278.4400 0.000000 - - - 20,278.44 (20,330.25) - (51.81) AMORTIZED PREMIUM ON F H L M C MLTCL MTG 1.780% 7/25/19 CURRENT YEAR 09/25/2018 3137BNN26 AMORTIZATION 0.0000 0.000000 - - - - (13.42) - - INTEREST EARNED ON F H L M C MLTCL MTG 1.780% 7/25/19 $1 PV ON 76.1800 09/25/2018 3137BNN26 SHARES DUE 9/25/2018 $0.00148/PV ON 51,355.77 PV DUE 9/25/18 0.0000 0.000000 - - - 76.18 - - - 09/25/2018 09/25/2018 09/25/2018 3137BPCF4 PAID DOWN PAR VALUE OF F H L M C MLTCL MTG 1.376% 10/25/20 -22,086.0800 0.000000 - - - 22,086.08 (22,085.90) - 0.18 INTEREST EARNED ON F H L M C MLTCL MTG 1.376% 10/25/20 $1 PV ON 97.5000 09/25/2018 3137BPCF4 SHARES DUE 9/25/2018 $0.00115/PV ON 85,026.18 PV DUE 9/25/18 0.0000 0.000000 - - - 97.50 - - - 09/25/2018 09/25/2018 09/25/2018 3137FGZN8 PAID DOWN PAR VALUE OF F H L M C MLTCL 3.19393% 2/25/23 -4,499.7800 0.000000 - - - 4,499.78 (4,499.78) - - INTEREST EARNED ON F H L M C MLTCL 3.19393% 2/25/23 $1 PV ON 638.7900 SHARES 09/25/2018 3137FGZN8 DUE 9/25/2018 $0.00266/PV ON 240,000.00 PV DUE 9/25/18 0.0000 0.000000 - - - 638.79 - - - 09/25/2018 09/25/2018 09/25/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 6,787.0300 1.000000 - - - (6,787.03) 6,787.03 - - 09/25/2018 09/25/2018 09/25/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 85,586.3300 1.000000 - - - (85,586.33) 85,586.33 - - 09/26/2018 09/26/2018 3133EJZD4 PAID ACCRUED INTEREST ON PURCHASE OF F F C B DEB 2.960% 9/13/21 0.0000 0.000000 - - - (277.91) - - - PURCHASED PAR VALUE OF F F C B DEB 2.960% 9/13/21 /NOMURA 09/26/2018 09/25/2018 09/26/2018 3133EJZD4 SECURITIES/FIX INCOME/260,000 PAR VALUE AT 99.585 % 260,000.0000 0.995850 - - - (258,921.00) 258,921.00 - - 09/26/2018 09/26/2018 09/26/2018 31846V203 PURCHASED UNITS OF FIRST AM GOVT OB FD CL Y 1,022,339.7700 1.000000 - - - (1,022,339.77) 1,022,339.77 - - 09/26/2018 09/26/2018 9128283S7 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.000% 1/31/20 0.0000 0.000000 - - - 805.43 - - - SOLD PAR VALUE OF U S TREASURY NT 2.000% 1/31/20 /RBC CAPITAL MARKETS, 09/26/2018 09/25/2018 09/26/2018 9128283S7 LLC/260,000 PAR VALUE AT 99.03091538 % -260,000.0000 0.990309 - - - 257,480.38 (259,410.94) (1,930.56) - 09/26/2018 09/26/2018 9128283S7 RECEIVED ACCRUED INTEREST ON SALE OF U S TREASURY NT 2.000% 1/31/20 0.0000 0.000000 - - - 3,190.76 - - - SOLD PAR VALUE OF U S TREASURY NT 2.000% 1/31/20 /BMO CAPITAL MARKETS 09/26/2018 09/25/2018 09/26/2018 9128283S7 CORP./1,030,000 PAR VALUE AT 99.035156 % -1,030,000.0000 0.990352 - - - 1,020,062.11 (1,027,666.40) (7,604.29) - 34 Page 31 of 32 Payden & Rygel Operating Portfolio Transaction Report Quarter ended September 30, 2018 Account Number: 001050990415 Name: RIVERSIDE COUNTY TRANS COMM Short Term Long Term Transaction Settlement Miscellaneous Federal Tax Cost Gain/Loss Gain/Loss Date Trade Date Date CUSIP Description Units Price Commissions SEC Fees Fees Net Cash Amount Amount Amount Amount

Total - - - - 106,963.15 (124,552.94) (22,226.73)

35 Page 32 of 32 ATTACHMENT 17

Riverside County Transportation Commission

SHORT DURATION FIXED INCOME

November 5, 2018

Logan Circle Partners, L.P.  MetLife Investment Management One MetLife Way  Whippany, NJ 07981 36 GLOBAL PRESENCE

 Logan Circle Partners, L.P. (“Logan Circle” or “LCP”) is a MetLife, Inc. company and is part of MetLife Investment Management (“MIM”), MetLife Inc.’s Institutional Investment Management Business.

 MetLife has 49,000 employees worldwide with offices in more than 40 countries.

London

Philadelphia

Whippany

Hong Kong

Santiago

Regional Investment Offices Additional Investment Offices

37 1 FIRM HIGHLIGHTS

Business Structure  Logan Circle is dedicated solely to the institutional marketplace and have $38.8 billion1 in total assets under management. MetLife  The senior members of our Investment team have worked together on fixed income portfolios for 20 Investment years. Insurance Management (MIM)  Suite of fixed income investment strategies includes broad coverage of both the risk spectrum (Enhanced Cash to High Yield) and the term structure (Short- Logan Circle Partners Term to Long Duration).

LCP Employees LCP Institutional Clients

107 Employees Assets by Client Type1 (as of 9/30/2018) (Millions as of 9/30/2018)

Portfolio Management 10 Corporate $16,431 Research 39 Sub-Advisory $15,452 Trading 18 Public $3,616 Risk Management / Portfolio Analytics 3 Insurance $543 Client Services 16

Legal / Compliance 5 Other $2,777

Administration / Operations 16 TOTAL: $38,818

1 Based on unaudited estimates and are subject to change. Fee paying assets under management as of 9/30/18.

38 2 FIXED INCOME TEAM

39 3 CREDIT RESEARCH TEAM

40 4 MARKET REVIEW

Outlook and Current Themes

 GDP - Global growth diverges with the U.S. economy’s momentum continuing to be driven by the strong labor market and stimulative fiscal policy, whose impact is expected to slightly diminish over the next year. Pace of domestic growth will fade in 2019 but will remain in the 2.5% to 3% range, well above the post-crisis average. Business and government spending assume greater importance in sustaining higher real GDP growth while consumer spending component remains stable. Impact of tariffs, other trade-related issues and a slowdown in the housing market could weigh on the positive growth outlook.

 Employment - Unemployment rate expected to drift lower barring a substantial upward move in the labor force participation rate. U.S. labor market remains historically tight by most indicators. The number of job openings exceeds the amount of job seekers for the first time, which has translated into higher wages given the shallow job pool of qualified job applicants. The seasonally- adjusted U.S. Quits Rate has reached 17-year highs, further evidence of employee confidence. Average hourly earnings data understates strength in weekly earnings growth data for non-supervisory and production workers.

 Consumer - Strength of consumer spending sustained by the increased pace of wage growth and low unemployment. Consumer confidence, which is highly correlated with the stock market, continues to rise, reaching multi-decades highs. U.S. real medium household income has reached a record level. Should energy prices spike higher or tariffs begin to push prices of consumer goods up significantly, the pace of spending growth may ease.

 Business - Corporate fundamentals continue to benefit from solid economic growth, which has produced stronger revenue growth, expanded operating margins and generated higher pre-tax earnings. Readings from confidence measures like the NFIB Small Business Optimism Index and CEO Confidence signal business cycle is likely to extend further. Potential for adverse outcomes arising from the unfolding trade and tariff actions supports our preference for U.S.-centric issuers. Late-cycle corporate behavior evident in selected non-financial subsectors as companies ramp up M&A activity and seek to increase shareholder returns through share buybacks and increased dividend payouts, which supports our more defensive approach in underweighting or avoiding selected non-financial sub-sectors. Production bottlenecks and supply chain disruptions coupled with selected labor shortages could pressure operating margins in coming quarters.

 U.S. Monetary & Fiscal Policy - Strength in the economy and financial markets as well as firming inflation will enable the Fed to carry on with its normalization program. The rates market has become more closely aligned with the Fed’s dot plot forecast for rate hikes through the end of 2019. Recent and prospective changes in the makeup of the Fed as well as among member regional bank presidents is not expected to tilt the hawk/dove balance over the near term. Continued gradual removal of monetary policy accommodation combined with stimulative fiscal policy remains positive for the U.S. dollar despite forthcoming growth in federal deficits and looming ramp-up in Treasury issuance.

 Inflation - Despite late-summer dip in core CPI, U.S. inflation is expected to remain on a gradual upward path due to mounting wage pressures, higher energy prices and eventual flow-through impact of tariffs on imported consumer goods. Year-over-year core PCE has reached the Fed’s 2% target. University of Michigan one-year consumer inflation expectations have risen from 2016-2017 levels. Changing costs for shelter, medical and education remain key factors of core service inflation, components which are not expected to decline.

 Residential / Commercial Real Estate - With the inventory of existing homes available for sale remaining at low levels, housing prices should continue to move higher, albeit at a slower pace. Consumers continue to benefit from rising take home pay via higher wages and reduced tax rates, although tax law changes create affordability challenges for higher priced homeowners in those states with higher income and property tax rates. Overall housing starts have slowed, with notable weakness in the multi- family sector. We do not see this as a reversal of the trend toward rental housing, as current levels of starts are in line with longer-term averages and vacancies remain near historic lows. With new supply peaking, commercial property vacancy rates should remain stable for most subsectors although lower quality retail properties may face challenges.

 Central Banks / International - Central banks are moving in the direction of less accommodation. The ECB’s plan to finally halt QE at year-end and potentially undertake its first rate hike next summer is a precursor of higher global interest rates. Uncertainty over Brexit is likely to persist and foster market volatility but its ultimate impact is expected to be minor. Favorable developments on the trade front in terms of their relationship with the U.S. for North America and South Korea contrast with others such as China and the E.U. which could lead to adverse outcomes impacting currency valuations or the willingness to hold U.S. Treasuries. Emerging market volatility experienced in particular by Argentina and Turkey has subsided, stalling contagion into the broader EM market. The views presented above are Logan Circle's and are subject to change over time. There can be no assurance that the views expressed above will prove accurate and should not be relied upon as a reliable indicator of future events.

41 5 PORTFOLIO REVIEW – Debt Reserve Fund

Portfolio Characteristics Asset Allocation

As of June 30, 2018 Actual Portfolio

Yield to Maturity 2.93%

CMBS Treasury Duration 3.51 Years 34% 46%

Average Quality (Moody’s) Aaa Agency 11% Portfolio Market Value $17,831,499 RMBS 9%

As of September 30, 2018 Actual Portfolio

Yield to Maturity 3.14% CMBS 34% Treasury Duration 3.39 Years 43%

Average Quality (Moody’s) Aaa Agency RMBS 14% Portfolio Market Value $17,842,317 9%

1 Since Inception Portfolio Performance 3Q 2018 YTD (8/1/2013)

Total Debt Service Fund (Gross of Fees) 0.06% -0.66% 1.71% Total Debt Service Fund (Net of Fees) 0.04% -0.73% 1.61% ICE BofAML U.S. Treasury Index 3-7 Year -0.23% -1.17% 1.18% Excess Return +29 +51 +53

Past Performance is not indicative of future results. Performance returns for periods greater than one year are annualized. The performance benchmark shown for the Riverside County Debt Reserve Fund is the ICE BofAML US Treasury 3-7 Year, which is a broad-based index consisting of U.S. Treasury securities with an outstanding par greater or equal to $25 million and a maturity range from three to seven years, inclusive, reflecting total return.

42 6 PORTFOLIO REVIEW – 2017 Toll Revenue I-15 Project Fund

Portfolio Characteristics Asset Allocation

CMBS As of June 30, 2018 Actual Portfolio 4% ABS Yield to Maturity 2.26% Municipal 19% 2% Treasury Duration 0.55 Years 27%

Corporate Average Quality (Moody’s) Aa3 39%

CP Portfolio Market Value $80,762,416 9%

CMBS As of September 30, 2018 Actual Portfolio 4% Agency ABS 2% 13% Treasury Yield to Maturity 2.42% 15% Municipal 6% Duration 0.45 Years CP 22% Average Quality (Moody’s) Aa3 Corporate 35%

Portfolio Market Value $75,772,308 CD 3%

Since Portfolio Performance1 3Q 2018 YTD Inception (8/1/2017) 2017 Toll Revenue I-15 Project Fund (Gross of Fees) 0.59% 1.31% 1.50% 2017 Toll Revenue I-15 Project Fund (Net of Fees) 0.56% 1.24% 1.40% ICE BofAML U.S. Treasury Index 0-2 Year 0.39% 0.95% 0.93% FTSE 6-Month Treasury Bill2 0.52% - - Excess Return vs. 0-2 Year +20 +36 +57

1Past performance is not indicative of future results. The Since Inception performance returns of the portfolio is as of the first full month following the funding date. The performance benchmark shown for the Riverside County I15 Express Lanes 2017 Toll Revenue Project Portfolio is the ICE BofAML 0-2 Year U.S. Treasury Index, which is a broad-based index consisting of U.S. Treasury securities with an outstanding par greater than or equal to $250 million and a maturity range from zero to two years, reflecting total return.

43 7 PORTFOLIO REVIEW – 2013 SR-91 Project Residual

Portfolio Characteristics Asset Allocation

CMBS 4% RMBS As of June 30, 2018 Actual Portfolio 4% ABS 12% Municipal Yield to Maturity 2.54% 6%

Treasury Duration 1.25 Years 33%

Average Quality (Moody’s) Aa2 Corporate 37% Portfolio Market Value $6,585,837 Discount Money Notes Markets 3% CMBS 1% Agency RMBS 4% 2% 3% Municipal ABS As of September 30, 2018 Actual Portfolio 3% 12%

Yield to Maturity 2.81%

Treasury Duration 1.37 Years 33% Corporate Average Quality (Moody’s) Aa2 43%

Portfolio Market Value $6,616,646

1 Since Inception Portfolio Performance 3Q 2018 (2/1/2018)

Riverside County 2013 SR-91 Project Residual Fund (Gross of Fees) 0.47% 1.04%

Riverside County 2013 SR-91 Project Residual Fund (Net of Fees) 0.44% 0.97%

ICE BofAML U.S. Treasury Index 1-3 Year 0.19% 0.58% Excess Return +28 +46

1Past performance is not indicative of future results. Inception date 1/4/18. Performance returns are calculated as of the first full month following the funding date. The performance benchmark shown for the Riverside County 2013 Residual Fund Portfolio is the ICE BofAML 1-3 Year U.S. Treasury Index, which is a broad-based index consisting of U.S. Treasury securities with an outstanding par greater than or equal to $250 million and a maturity range from one to three years, reflecting total return.

44 8 PORTFOLIO REVIEW – 2017 Toll Revenue I-15 Ramp Up Reserve

Portfolio Characteristics Asset Allocation

As of June 30, 2018 Actual Portfolio

Yield to Maturity 2.26% CMBS 28% Treasury Duration 1.10 Years 40%

Average Quality (Moody’s) Aaa RMBS 31%

Portfolio Market Value $7,970,925 Money Market 1%

As of September 30, 2018 Actual Portfolio CMBS Yield to Maturity 2.73% 25%

Duration 1.41 Years Treasury RMBS 37% 32% Average Quality (Moody’s) Aaa

Portfolio Market Value $7,995,779 Agency 6%

1 Since Inception Portfolio Performance 3Q 2018 (1/1/2018)

2017 Toll Revenue I-15 Ramp Up Reserve (Gross of Fees) 0.31% 1.25%

2017 Toll Revenue I-15 Ramp Up Reserve (Net of Fees) 0.29% 1.18%

ICE BofAML U.S. Treasury Index 1-3 Year 0.19% 0.29% Excess Return +12 +96

1Past performance is not indicative of future results. Inception date 12/5/17. Performance returns are calculated as of the first full month following the funding date. The performance benchmark shown for the Riverside County I15 Express Lanes Toll Revenue Reserve Portfolio is the ICE BofAML 1-3 Year U.S. Treasury Index, which is a broad-based index consisting of U.S. Treasury securities with an outstanding par greater than or equal to $250 million and a maturity range from one to three years, reflecting total return.

45 9 RCTC PORTFOLIOS

2013 SR 91 Reserve and Residual Funds

Beginning Portfolio Market Value Net Flows Market Value Change in (7/3/2013) (9/30/2018) Market Value

Debt Service Reserve Fund $17,667,869 ($1,274,770) $17,842,317 +$1,449,218

Beginning Portfolio Market Value Net Flows Market Value Change in (1/16/2018) (9/30/2018) Market Value

2013 SR-91 Project Residual Fund $3,292,782 $3,276,000 $6,616,646 +$47,864

2017 I-15 Project

Beginning Portfolio Market Value Net Flows Market Value Change in (7/24/2017) (9/30/2018) Market Value

2017 Toll Revenue I-15 Project Fund $98,562,718 ($24,314,075) $75,772,308 +$1,523,665

I-15 Express 2017 Project Sales Tax Revenue $56,043,134 ($56,480,618) $961 +$438,445

Beginning Market Value (12/5/2017)

2017 Toll Revenue I-15 Ramp Up Reserve $7,723,487 $166,500 $7,995,779 +$105,792

Total Project $162,329,339 ($80,628,193) $83,769,048 +$2,067,902

46 10 DISCLAIMERS

In general. This disclaimer applies to this document and the verbal or written comments of any person presenting it. This document, taken together with any such verbal or written comments, is referred to herein as the “Presentation.” Logan Circle Partners, L.P., a MetLife, Inc. company, is referred to herein as “Logan Circle” and is part of MetLife, Inc.’s institutional investment management business. No offer to purchase or sell securities. This Presentation is being provided to you, at your specific request. This Presentation does not constitute an offer to sell or a solicitation of an offer to buy any security and may not be relied upon in connection with the purchase or sale of any security. Projections. Projections contained in this Presentation are based on a variety of estimates and assumptions by Logan Circle, including, among others, estimates of future operating results, the value of assets and market conditions at the time of disposition, and the timing and manner of disposition or other realization events. These estimates and assumptions are inherently uncertain and are subject to numerous business, industry, market, regulatory, competitive and financial risks that are outside of Logan Circle’s control. There can be no assurance that the assumptions made in connection with the projections will prove accurate, and actual results may differ materially, including the possibility that an investor may lose some or all of its invested capital. The inclusion of the projections herein should not be regarded as an indication that Logan Circle or any of its affiliates considers the projections to be a reliable prediction of future events and the projections should not be relied upon as such. Neither Logan Circle nor any of its affiliates or representatives has made or makes any representation to any person regarding the projections and none of them intends to update or otherwise revise the projections to reflect circumstances existing after the date when made or to reflect the occurrence of future events, if any or all of the assumptions underlying the projections are later shown to be in error. For purposes of this paragraph, the term “projections” includes “targeted returns”. Past performance. Past performance is not a reliable indicator of future results and should not be relied upon as the basis for making an investment decision. The information presented is only available for institutional client use. No reliance, no update and use of information. You may not rely on this Presentation as the basis upon which to make an investment decision. To the extent that you rely on this Presentation in connection with any investment decision, you do so at your own risk. This Presentation is being provided in summary fashion and does not purport to be complete. The information in the Presentation is provided to you as of the dates indicated and Logan Circle does not intend to update the information after its distribution, even in the event that the information becomes materially inaccurate. Certain information contained in this Presentation includes performance and characteristics of Logan Circle’s strategies and any represented benchmarks, which may derive from calculations or figures that have been provided by independent third parties, or have been prepared internally and have not been audited or verified. Use of different methods for preparing, calculating or presenting information may lead to different results for the information presented, compared to publicly quoted information, and such differences may be material. Knowledge and experience. You acknowledge that you are knowledgeable and experienced with respect to the financial, tax and business aspects of this Presentation and that you will conduct your own independent financial, business, regulatory, accounting, legal and tax investigations with respect to the accuracy, completeness and suitability of this Presentation should you choose to use or rely on this Presentation, at your own risk, for any purpose. Risk of loss. An investment in the strategy will be highly speculative and there can be no assurance that the strategy’s investment objectives will be achieved. Investors must be prepared to bear the risk of a total loss of their investment. Distribution of this Presentation. Logan Circle expressly prohibits any reproduction, in hard-copy, electronic or any other form, or any redistribution to any third party of this Presentation without the prior written consent of Logan Circle. This Presentation is not intended for distribution to, or use by, any person or entity in any jurisdiction or country where such distribution or use is contrary to local law or regulation. No tax, legal or accounting advice. This Presentation is not intended to provide, and should not be relied upon for (and you shall not construe it as) accounting, legal, regulatory, financial or tax advice or investment recommendations. Any statements of U.S. federal tax consequences contained in this Presentation were not intended to be used and cannot be used to avoid penalties under the U.S. Internal Revenue Code or to promote, market or recommend to another party any tax-related matters addressed herein. Confidentiality. By accepting receipt or reading any portion of this Presentation, you agree that you will treat the Presentation confidentially. This reminder should not be read to limit, in any way, the terms of any confidentiality agreement you or your organization may have in place with Logan Circle.

L1018509623[exp0319][All States] 47 11 ATTACHMENT 18

QUARTERLY PORTFOLIO REVIEW

Riverside County Transportation Commission

3rd Quarter 2018

PAYDEN.COM LOS ANGELES | BOSTON | LONDON | MILAN

48 LETTER FROM THE CEO

October 2018

As we are now in the fourth quarter of the year, investors are focused on “what the future will bring.” Will it be a continuation of the last 12 months? The future obviously won’t resemble the past. However, there are some important trends today that we would like to explore in a positive vein.

The U.S. economy shows great strength. We think the business cycle is far from over. The consumer is strong and corporate balance sheets look healthy. Meanwhile, inﬂation is still under control.

The big question everyone is asking is: where are interest rates going? Higher interest rates are a good thing if they’re rising for the right reasons. And we think the right reasons are driving both higher rates and higher equity prices: strong economic growth and corporate proﬁts.

Further abroad, we see more challenges. Global economic growth has slowed somewhat this year, and higher interest rates and a stronger U.S. dollar may prove challenging for some economies. Brexit still looms, unﬁnished and uncertain, and European politics are as vexing as ever. Challenges and risks remain.

September was a reflective month for Payden & Rygel. We opened our doors 35 years ago on September 12, 1983. We’ve grown globally, opening an office in London 20 years ago, in September 1998. More recently we opened a new office in continental Europe in Milan. Despite the changes and expansion, our ownership, governance structure and culture remain the same—quite extraordinary.

My best wishes to you and your family for the coming holiday season.

Health and happiness,

Joan A. Payden

President & CEO

49 2812 Riverside County Transportation Commission Portfolio Review and Market Update - 3rd Quarter 2018

PORTFOLIO CHARACTERISTICS (As of 9/30/2018)

Portfolio Market Value $51.4 million Weighted Average Credit Quality AA+ Weighted Average Duration 1.52 years Weighted Average Yield to Maturity 2.79%

SECTOR ALLOCATION DURATION DISTRIBUTION

45% 60% 40% 35% 50% 30% 25% 40% 20% 15% 30% 10% 5% 20% 0% 10% GO Credit Cash Agencies Revenue Treasuries 0% Asset-Backed 0 - 1 1 - 2 2 - 3 3+ Mortgage-Backed Years

PORTFOLIO RETURNS - Periods Ending 9/30/2018 Since 3rd 2018 Trailing Inception Quarter YTD 1 Yr (3/1/15)

RCTC Operating Portfolio 0.40% 0.73% 0.60% 0.80% ICE BofAML 1-3 Year US Treasury Index 0.19% 0.29% 0.03% 0.51%

Periods over one year are annualized

Payden & Rygel • 333 South Grand Avenue • Los Angeles, California 90071 • (213) 625-1900 • www.payden.com 50 Portfolio Review and Market Update - 3rd Quarter 2018 2812

MARKET THEMES

The third quarter was a tug-of-war between robust economic data and persistent geopolitical risk across the globe. The U.S. economy remained the anchor for global growth, with tailwinds coming from strong employment figures and corporate profits. Consequently, the Federal Reserve continued to raise interest rates, notching its eighth hike since the end of 2015. Headwinds outside the U.S. included volatility in emerging markets, overhang regarding Italian politics and the forthcoming departure of the UK from the euro zone. All in all, the tone across risk assets was broadly positive despite volatility in select sectors. Yields moved higher, but corporate credit risk premiums declined and equity prices increased globally. We believe the front end of the yield curve is the most attractive it has been in a decade as yields move up and provide higher total return potential and low return volatility.

STRATEGY

n The portfolio holds a diversified mix of credit sectors for income generation.

n Corporate and securitized bonds outperformed Treasuries over the quarter as yield premiums fell. We view short credit as attractive given strong fundamentals and yield levels that we have not seen since 2009.

n We remain active in both secondary and primary markets when pricing is supportive.

n We continue to utilize floating-rate coupon bonds across a range of sectors in anticipation of higher front-end rates driven by an active Fed.

INTEREST RATES

n Short U.S. Treasury yields moved higher by 20 to 30 basis points, with the two-year maturity rising 0.29% to 2.82%. The slope between two- and five-year maturities continued its flattening trend, falling 0.08% to end the quarter at 13 basis points.

n Our underweight duration position was additive to performance as Treasury yields increased.

n Floating-rate positions contributed positively to performance as Treasury yields rose and LIBOR remained range bound. One-month LIBOR rose 0.17% to 2.26% and 3-month LIBOR rose 0.06% to 2.40%.

SECTORS

n Corporate securities outperformed Treasuries during the quarter, benefiting from spread compression and yield advantage.

n High-quality asset-backed securities outperformed Treasuries while providing diversification and flexible reinvestment opportunities.

Payden & Rygel • 333 South Grand Avenue • Los Angeles, California 90071 • (213) 625-1900 • www.payden.com 51 MARKET PERSPECTIVE

With three quarters of the year in the books, one theme has driven the global economy and ﬁnancial markets in 2018: divergence. U.S. economic growth has accelerated in 2018, while Chinese growth has decelerated (see Chart 1). With the two largest economies in the world moving in different directions, ripple effects were felt around the world. Higher U.S. interest rates, justiﬁed by stronger U.S. economic growth, produced knock-on effects in emerging markets. Weaker economic activity out of China also exerted a drag on global activity, from the emerging world to European exports. As a result, the market implications of global divergence appeared most clearly in equity returns. While the U.S. has returned almost 10% year-to-date (see Chart 2), the rest of the world has registered declines (except for Japan). As the U.S. continues to grow above trend for the rest of the year, we will closely watch whether the global divergence theme continues.

Chart 1: Divergence in 2018 − U.S. Nominal GDP Growth Accelerates as China Slows

U.S. Nominal GDP YoY (LHS) China Nominal GDP YoY (RHS) 8% 26% 7% 24% 6% 22% 20% 5% Change Year-Over-Year% 4% 18% 16% 3% 14% 2% 12% 1% 10% 0% 8% % Change Year-Over-Year -1% 6% -2% 4% -3% 2% -4% 0% '06 '07 '08 '09 '10 '11 '12 '13 '14 '15 '16 '17 '18

Source: Bureau of Economic Analysis, National Bureau of Statistics of China

Chart 2: Stock Returns Reﬂect The Divergence Theme − Major Index Total Returns Year-to-Date*

12%

-3%

-6% Total Returns Year-to-Date Total -9%

-12%

-15% U.S. S&P 500 MSCI Japan EURO STOXX MSCI Emerging Shanghai Stock Index Index Markets Index Exchange Composite Index

Source: Standard and Poor’s, MSCI, STOXX, Shanghai Stock Exchange, Bloomberg *As of 9/28/2018

52 PAYDEN.COM

US DOMICILED MUTUAL FUNDS CASH BALANCE U.S. FIXED INCOME Payden/Kravitz Cash Balance Plan Fund Absolute Return Bond Fund EQUITY Cash Reserves Money Market Fund Equity Income Fund Core Bond Fund Corporate Bond Fund GLOBAL FIXED INCOME Floating Rate Fund Emerging Markets Bond Fund GNMA Fund Emerging Markets Corporate Bond Fund High Income Fund Emerging Markets Local Bond Fund Limited Maturity Fund Global Fixed Income Fund Low Duration Fund Global Low Duration Fund Strategic Income Fund TAX-EXEMPT FIXED INCOME U.S. Government Fund California Municipal Income Fund

DUBLIN DOMICILED UCITS FUNDS EQUITY FIXED INCOME Global Equity Income Fund Absolute Return Bond Fund US Equity Income Fund Global Bond Fund Global Emerging Markets Bond Fund LIQUIDITY FUNDS Global Emerging Markets Corporate Bond Fund Euro Liquidity Fund Global Government Bond Index Fund Sterling Reserve Fund Global High Yield Bond Fund U.S. Dollar Liquidity Fund Global Inflation-Linked Bond Fund Global Short Bond Fund Sterling Corporate Bond Fund U.S. Core Bond Fund USD Low Duration Credit Fund

For more information about Payden & Rygel’s funds, contact us at a location listed below.

LOS ANGELES BOSTON LONDON MILAN 333 South Grand Avenue 265 Franklin Street 1 Bartholmew Lane Corso Matteotti, 1 Los Angeles, California 90071 Boston, Massachusetts 02110 London EC2N 2AX 20121 213 625-1900 617 807-1990 United Kingdom Milan, Italy + 44 (0) 20-7621-3000 +39 02 76067111 53 ATTACHMENT 19

County of Riverside Treasurer’s Pooled Investment Fund

September 2018

54 Contents

2| Treasurer’s Pooled Investment Fund

3| Economy

4| Market Data

6| Portfolio Data

8| Compliance Report

9| Month End Holdings

Hot air balloons over Lake Skinner in Temecula, Southwest Riverside County, CA. Digital Image. NBC San Diego. http://www.nbcsandiego.com/news/local/temecula-valley-2014-balloon-wine-festival-north-san-diego-261142951.html COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 1 55 Treasurer’s Pooled Investment Fund Quarterly Commentary Higher Rates Begin to Sting

We are proud to announce that we Despite the trade war between the some early signs of the housing market are unveiling a new, more interactive world’s two largest economies, the U.S. beginning to cool off, such as recent way to read the monthly Treasurer’s economy is coasting into its tenth consec- downward trends in house price indices, Pooled Investment Fund (TPIF) report. utive year of expansion. In recent months, housing starts, construction permits for Follow the link on the Treasurer’s website job gains have been strong, the unem- new houses, new home sales, and lumber to see it for yourself. We hope you enjoy. ployment rate has remained low and prices. This month, the stock market and the measures of inflation have been in-line September saw steady increases in economy continued to show resilience in with the FED’s long-term goal. Improving intermediate Treasury yields. The 2-year the face of the US-China trade war and consumer confidence, strong retail sales yield started the month at 2.63% and rose some turbulence in domestic politics. The and steady household spending are signs to finish at 2.82% and the 5-year yield Federal Reserve (FED) hiked short-term that the economy should continue on its started the month at 2.74% and rose to interest rates as expected and the S&P path for at least the short-term. finish at 2.96%. The Treasury curve steep- 500 reached another record-high of Citing a strong job market and stable ened slightly, with the 2-year-to-5-year 2,930. Fitch has once again affirmed the inflation during their September 26 meet- spread starting the month at +11 and TPIF’s AAA rating, Fitch’s highest possible ing, the Federal Open Market Committee rising to finish the month at +14. General- rating. (FOMC) raised the target range for the ly, curve steepening is a sign of investors’ On September 24, the U.S. implement- federal funds rate from 1.75–2.00% to 2.00 confidence that the economy is strength- ed another round of tariffs on imports –2.25%. This rate hike marks the third of ening and that the risk of inflation is in- from China, a 10 percent tax on $200bn the calendar year, sixth since 2017, and creasing. worth of Chinese imports; this is on top of brings FED funds within 75 basis points of In the face of negative headlines, in- the $50bn worth already taxed earlier this its projected neutral FED funds rate of vestors continue to drive stock prices and year. China immediately retaliated with 5 3.00%. Reaching the FED’s neutral rate bond yields higher. Thanks to these higher to 10 percent tariffs on $60bn worth of increases the chances for the end of the yields in the fixed income market, our TPIF U.S. goods. FED’s current rate hike cycle. yield now exceeds 2.00% for the first time Emerging market fears over Brazil, Ar- The housing sector remains strong, since 2009! gentina, Turkey, and South Africa contin- evidenced by the annual growth in house ue this month; however, the U.S. equity prices remaining above 6 percent since Jon Christensen market continues to strengthen. October 2017. However, there have been Treasurer-Tax Collector

Treasurer’s Statement Capital Markets Team

The Treasurer’s Pooled Investment Fund is comprised of contributions from the county, Jon Christensen schools, special districts, and other discretionary depositors throughout the County of Riverside. Treasurer-Tax Collector The primary objective of the treasurer shall be to safeguard the principal of the funds under the Giovane Pizano treasurer's control, meet the liquidity needs of the depositor, and to maximize a return on the Chief Investment Manager funds within the given parameters. The Treasurer-Tax Collector and the Capital Markets team are committed to maintaining Steve Faeth Sr. Investment Manager the highest credit ratings. The Treasurer’s Pooled Investment Fund is currently rated Aaa-bf by Moody’s Investor Service and AAAf/S1 by Fitch Ratings, two of the nation’s most trusted bond Isela Licea Assistant Investment Manager credit rating services. Since its inception, the Treasurer’s Pooled Investment Fund has been in full compliance Jake Nieto with the Treasurer’s Statement of Investment Policy, which is more restrictive than California Administrative Services Assistant Government Code 53646.

6-Month Pool Performance Month End Market Month End Book Paper Gain Paper Gain or Book Yield WAM (Yrs) Value ($)* Value ($) or Loss ($) Loss (%) (%) 18-Sep 6,010,617,673.04 6,046,972,952.10 (36,355,279.06) -0.60% 2.01 1.16 18-Aug 5,911,098,915.70 5,941,969,016.43 (30,870,100.73) -0.52% 1.96 1.20 18-Jul 5,978,974,759.31 6,015,426,250.42 (36,451,491.11) -0.61% 1.92 1.24 18-Jun 6,488,967,672.40 6,525,613,476.09 (36,645,803.69) -0.56% 1.88 1.17 18-May 7,108,808,189.85 7,140,053,875.23 (31,245,685.38) -0.44% 1.82 1.11 18-Apr 7,705,324,013.51 7,744,877,200.23 (39,553,186.72) -0.51% 1.75 1.04 *Market values do not include accrued interest. COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 2 56 Economy National Economy State Economy The US housing market slows as rising prices continue to out- Annual employment growth in California of 2.0% exceed- pace wage growth and interest rises. [NY Times; 10/02/2018] ed the national pace of 1.6% in July, led by gains in the  U of M Consumer Sentiment Index nears highest in fourteen construction sector (4.7%). [Bank of the West; 10/03/2018]. years in September. [FRED/Trading Economics; 10/02/2018]  287k workers in California are exposed to China’s initial round  Real annual growth of advanced retail and food service sales of $50bn in retaliatory tariffs. [Marketwatch/BLS; 10/03/2018] exceeds 3.5% in last three of four months. [FRED; 10/02/2018]  Single family home (SFH) sales SAAR statewide and in River-  The seasonally adjusted annualized rate (SAAR) of car sales is side County fell 6.6% in August from the same month last expected to fall four percent in September, owing to Hurricane year; SFH prices rose 5.5% statewide and 3.3% in Riverside Florence and rising interest rates. [Reuters; 10/02/2018]. County over the same period. [CAR; 10/03/2018]

U of M: Consumer Sentiment Index Adv. Real Retail and Food Service Sales - Y/Y

4.0% 103.8 98.1 101.4 100.1 100.0 100.7 3.5% 3.0% 90.0 2.5% 80.0 2.0%

70.0 1.5% 1.0% 60.0 0.5% 50.0 0.0%

Case-Shiller Nat’l Home Price Index - Y/Y U3 Unemployment Rate

US 7.0% 7.0% CA 6.5% Riverside County 6.0% 6.0%

5.5% 5.0% 4.7%

5.0% 4.3% 4.0% 4.5% 3.9% 4.0% 3.0%

Key Economic Indicators Release Date Indicator Actual Consensus Difference 09/27/2018 Real GDP - Q/Q Change - 2Q18 (3rd estimate) 4.20% 4.30% -0.10% 09/07/2018 Unemployment Rate - Seasonally Adjusted 3.90% 3.80% 0.10% 09/07/2018 Non-Farm Payrolls - M/M Change 201,000 195,000 6,000 09/13/2018 CPI - Y/Y Change 2.70% 2.80% -0.10% 09/13/2018 CPI Ex Food and Energy - Y/Y Change 2.20% 2.30% -0.10% 09/06/2018 Non-Manufacturing Index (> 50 indicates growth) 58.5 56.8 1.70 09/26/2018 New Home Sales - SAAR 629,000 630,000 -1,000 09/06/2018 Factory Orders - M/M Change -0.80% -0.70% -0.10% 09/27/2018 Durable Goods Orders - M/M Change 4.50% 2.20% 2.30% COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 3 57 Market Data

FOMC Meeting 09/26/2018

 The FOMC stated data received from their last meeting in August “indicates that the labor market has continued to strengthen and that economic activity has been rising at a strong rate.”  The Federal Reserve raised the Fed Funds Target Rate to 2.00—2.25% from 1.75—2.00%.  “Risks to the economic outlook appear roughly balanced”, stated the FOMC in their August 1, 2018 press release.  The next FOMC policy statement meeting is scheduled for November 8, 2018.

Fed Funds Target Rate (Upper Limit)

2.50%

2.00%

1.50%

1.00%

0.50%

0.00%

US Treasury Curve

3.50

08/31/2018 09/28/2018

3.00

2.50

Yield (%) Yield

2.00

1.50 05 10 15 2025 30 Years

Treasury Curve Differentials 3 Mo 6 Mo 1 Yr 2 Yr 3 Yr 5 Yr 10 Yr 30 Yr

09/28/2018 - 08/31/2018 0.08 0.08 0.13 0.19 0.18 0.20 0.19 0.17

09/28/2018 2.19 2.36 2.59 2.81 2.88 2.94 3.05 3.19

08/31/2018 2.11 2.28 2.46 2.62 2.70 2.74 2.86 3.02 The US Treasury Curve and its forecasted values are subject to frequent change and will be updated monthly with each issued TPIF report. COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 4 58 Market Data cont’d

Commodities

Industrial Metals (left) Precious Metals (left) Nymex Crude (left) Nymex Nat Gas (right) Iron Ore (right) Ethanol (right) 95.00 210.00 79.00 4.00 90.00

190.00 85.00 74.00 3.50 170.00 80.00 69.00 3.00 75.00 64.00 150.00 2.50 70.00 59.00 130.00 2.00 65.00 54.00 110.00 60.00 1.50 49.00 90.00 55.00 44.00 1.00 70.00 50.00

Stocks

28,000.00 8,000.00 NASDAQ 100 3,000.00 (Left) Dow Jones S&P 500 (right)

7,500.00 2,800.00 26,000.00

7,000.00 2,600.00

24,000.00

6,500.00 2,400.00

22,000.00 6,000.00 2,200.00

20,000.00 5,500.00 2,000.00

* Values listed on this page are in US dollars and are based on the final business day of each month. COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 5 59 Portfolio Data

The County of Riverside’s Treasurer’s Pooled Investment Fund is currently rated AAA-bf by Moody’s Investor Service and AAAf/S1 by Fitch Ratings. Aa1 Aa2 6% 5% Moody’s Asset Rating (000’s) Aa3 Book MKT/Book % Book Yield 13% A1 Aaa 3,651,716.24 98.90% 60.39% 1.88% <1% Aa1 349,017.81 100.41% 5.77% 2.23% Aa2 281,820.70 100.31% 4.66% 2.41% NR Aaa Aa3 774,253.70 100.28% 12.80% 2.27% 16% 60% A1 10,000.00 100.00% 0.17% 2.59% NR 980,164.50 99.95% 16.21% 2.12% Totals: 6,046,972.95 99.40% 100.00% 2.01%

S&P Asset Rating (000’s) AA AA- A+ 1% Book MKT/Book % Book Yield 2% 14% AAA 331,168.90 100.21% 5.48% 2.27% AA+ 3,667,565.02 98.96% 60.65% 1.87% AA 126,905.46 100.48% 2.10% 2.33% NR 16% AA- 866,169.07 100.11% 14.32% 2.31% A+ 75,000.00 100.00% 1.24% 2.50% NR 980,164.50 99.95% 16.21% 2.12% AAA AA+ 6% Totals: 6,046,972.95 99.40% 100.00% 2.01% 61%

12-Month Projected Cash Flow Required Actual Monthly Monthly Matured Investments Available to Month Receipts Disbursements Difference Investments Balance Maturing Invest > 1 Year 10/2018 82.50 10/2018 1,051.06 1,100.00 (48.94) 33.56 1,406.82 11/2018 1,125.00 1,100.00 25.00 58.56 384.50 12/2018 2,350.00 1,100.00 1,250.00 1,308.56 - 01/2019 1,000.00 2,100.00 (1,100.00) 208.56 558.66 02/2019 850.00 1,050.00 (200.00) 8.56 255.34 03/2019 1,350.00 1,200.00 150.00 158.56 158.31 04/2019 2,000.00 1,300.00 700.00 858.56 16.10 05/2019 1,200.00 2,050.00 (850.00) 8.56 184.46 06/2019 1,050.00 1,850.00 (800.00) 791.44 - 154.09 07/2019 969.28 1,250.00 (280.72) 280.72 - 166.58 08/2019 900.00 1,200.00 (300.00) 300.00 - 166.24 09/2019 1,100.00 1,200.00 (100.00) 100.00 - 68.75 TOTALS 14,945.34 16,500.00 (1,554.66) 1,472.16 2,725.98 3,519.85 4,574.81 24.35% 58.21% 75.65%

* Values listed in Cash Flow Table are in millions of USD.

Based on historic and current financial conditions within the County, the Pool is expected to maintain sufficient liquidity of funds to cover County expenses for the next twelve months.

COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 6 60 Portfolio Data cont’d Asset Maturity Distribution (Par Value, 000’s)

2,000,000 28.99% 1,758,518.00

22.50% 1,500,000 1,364,819.04

16.19% 982,074.00 1,000,000 13.85% 840,254.00 11.09% 672,960.00 7.37% 500,000 447,128.00

- 0-1 Mos1-3 Mos3-12 Mos1-2 Yr2-3 Yr3-5 Yr

Asset Allocation (000’s) Assets Scheduled Book Scheduled Market Mkt/ Sch Book Yield WAL (Yr.) Mat (Yr.) TREAS 193,953.58 193,726.97 99.88% 1.84% 0.47 0.47 AGENCIES 3,059,637.48 3,017,593.26 98.63% 1.80% 1.93 1.99 MMKT 88,994.51 88,994.51 100.00% 2.05% 0.00 0.00 CASH 770,000.00 770,000.00 100.00% 2.11% 0.00 0.00 CALTRUST FND 24,000.00 24,000.00 100.00% 2.19% 0.00 0.00 COMM PAPER 767,139.82 773,109.40 100.78% 2.37% 0.26 0.26 NCDS 723,931.28 723,931.28 100.00% 2.39% 0.28 0.28 MEDIUM TERM NOTES 212,505.21 212,451.18 99.97% 2.47% 1.27 1.29 MUNI 206,651.08 206,651.08 100.00% 1.73% 1.16 1.16 LOCAL AGCY OBLIG 160.00 160.00 100.00% 2.46% 1.71 1.71 Totals: 6,046,972.95 6,010,617.67 99.40% 2.01% 1.14 1.17

* For details on the Pool’s composition see Month End Portfolio Holdings, pages 9 to 13. TIMMI 2.50% 2.01% Pool Yield TIMMI 1.88% 1.92% 1.96% 2.17% 2.08% 1.63% 1.75% 1.82% 2.07% 2.06% 1.93% 2.00% 1.80% 1.88% 1.47% 1.53% 1.39% 1.51% 1.54% 1.25% 1.27% 1.32% 1.45% 1.50% 1.22% 1.23% 1.25%

1.00%

The Treasurer’s Institutional Money Market Index (TIMMI) is a composite index of four AAA rated prime institutional money market funds. Their aggregate yield is compared to the yield of the Treasurer’s Pooled Investment Fund in the above graph.

COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 7 61 Compliance Report

Compliance Status: Full Compliance

The Treasurer’s Pooled Investment Fund was in full compliance with the County of Riverside’s Treasurer’s State- ment of Investment Policy. The County’s Statement of Investment Policy is more restrictive than California Gov- ernment Code 53646. The County’s Investment Policy is reviewed annually by the County of Riverside’s Over- sight Committee and approved by the Board of Supervisors.

GOVERNMENT CODE COUNTY INVESTMENT POLICY

Maximum Authorized S&P/ Maximum Authorized % Investment Category S&P/ Moody's Actual % Maturity % Limit Moody's Maturity Limit

MUNICIPAL BONDS 5 YEARS NO LIMIT NA 4 YEARS 15% AA-/Aa3/AA- 3.42%

U.S. TREASURIES 5 YEARS NO LIMIT NA 5 YEARS 100% NA 3.21%

LOCAL AGENCY INVESTMENT 5 YEARS NO LIMIT NA 3 YEARS 2.50% <0.1% OBLIGATIONS (LAO) GRADE

FEDERAL AGENCIES 5 YEARS NO LIMIT AAA 5 YEARS 100% NA 50.60% COMMERCIAL PAPER 270 DAYS 40% A1/P1 270 DAYS 40% A1/P1/F1 12.69% (CP)

CERTIFICATE & TIME 25% 5 YEARS 30% NA 1 YEAR A1/P1/F1 11.97% DEPOSITS (NCD & TCD) Combined

40% max, 25% REPURCHASE 1 YEARS NO LIMIT NA 45 DAYS in term repo A1/P1/F1 0.00% AGREEMENTS (REPO) over 7 days

REVERSE REPOS 92 DAYS 20% NA 60 DAYS 10% NA 0.00%

MEDIUM TERM NOTES 5 YEARS 30% A 3 YEARS 20% AA/Aa2/AA 3.51% (MTNO)

CALTRUST SHORT TERM DAILY NA NA NA 1.00% NA 0.40% FUND LIQUIDITY

AAA by 2 Of 3 MONEY MARKET AAA/Aaa DAILY 60 DAYS (1) 20% 20% RATINGS 1.47% MUTUAL FUNDS (MMF) (2) LIQUIDITY AGC. LOCAL AGENCY DAILY Max NA NA NA NA 0.00% INVESTMENT FUND (LAIF) LIQUIDITY $50 million

CASH/DEPOSIT NA NA NA NA NA NA 12.73% ACCOUNT 1 Money Market Mutual Funds maturity may be interpreted as a weighted average maturity not exceeding 60 days. 2 Or must have an investment advisor with no fewer than 5 years experience and with assets under management of $500,000,000 USD.

THIS COMPLETES THE REPORT REQUIREMENTS OF CALIFORNIA GOVERNMENT CODE 53646.

COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 8 62 Mo nth End Portfo lio Ho lding s

C USIP De sc riptio n Ma turity Coupon Yield Par Book Marke t Ma rke t Unrea lize d Mo dified Ye ars To Da te To Ma t Value Value Pric e Value Gain/ Loss Duration Ma turity Fund: 1 POO L FUND

1060: MMKT ACCTS-A/ 365-6 FRG XX FIDELITY GOV 10/01/2018 1.9341.934 1,000,000.00 1,000,000.00 100.000000 1,000,000.00 0.00 .003 .003 G O FXX FEDERATED GOV 10/01/2018 1.9011.901 1,000,000.00 1,000,000.00 100.000000 1,000,000.00 0.00 .003 .003 FGTXX GOLDMAN SACHS GOV 10/01/2018 1.9001.900 1,000,000.00 1,000,000.00 100.000000 1,000,000.00 0.00 .003 .003 WFFXX WELLS FARGO GOV 10/01/2018 1.8911.891 1,000,000.00 1,000,000.00 100.000000 1,000,000.00 0.00 .003 .003 WFJXX HERITAGE PRIME MMF 10/01/2018 2.1102.066 4,998,000.80 5,000,000.00 100.040000 5,000,000.00 0.00 .003 .003 FIPXX FIDELITY PRIME MMF 10/01/2018 2.0772.037 29,988,005.30 29,997,501.25 100.031666 29,997,501.25 0.00 .003 .003 TMPXX BLACKROCK PRIME MMF 10/01/2018 2.0912.063 24,990,003.50 24,995,001.50 100.020000 24,995,001.50 0.00 .003 .003 C JPXX JP MORGAN PRIME MMF 10/01/2018 2.0892.063 24,997,003.50 25,002,002.90 100.020000 25,002,002.90 0.00 .003 .003 2.0792.047 88,973,013.10 88,994,505.65 100.024156 88,994,505.65 0.00 .003 .003

1065: CLTR-A/ 365-6 C LTR CALTRUST SHT TERM FUND 10/01/2018 2.1932.187 23,976,023.98 24,000,000.00 100.100000 24,000,000.00 0.00 .003 .003 2.1932.187 23,976,023.98 24,000,000.00 100.100000 24,000,000.00 0.00 .003 .003

1080: MGD RATE-A/ 365-6 C ASH BANK OF THE WEST 10/01/2018 2.1182.118 340,000,000.00 340,000,000.00 100.000000 340,000,000.00 0.00 .003 .003 2.1182.118 340,000,000.00 340,000,000.00 100.000000 340,000,000.00 0.00 .003 .003

1170: MGD RATE-A/ 360 C ASH UB MANAGED RATE 10/01/2018 2.1102.110 400,000,000.00 400,000,000.00 100.000000 400,000,000.00 0.00 .003 .003 C ASH PACIFIC PREMIER BANK 10/01/2018 2.1102.110 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 .003 .003 2.1102.110 430,000,000.00 430,000,000.00 100.000000 430,000,000.00 0.00 .003 .003

1175: LAO-SINKING FND-A/ 360 LAO US DIST COURTHOUSE 06/15/2020 2.4602.460 160,000.00 160,000.00 100.000000 160,000.00 0.00 .709 1.710 2.4602.460 160,000.00 160,000.00 100.000000 160,000.00 0.00 .709 1.710

1300: U.S. TREASURY BILL 912796QH5 U.S. TREASURY BILL 05/23/2019 2.3702.408 20,000,000.00 19,687,950.00 98.469085 19,693,816.95 5,866.95 .628 .644 2.3702.408 20,000,000.00 19,687,950.00 98.469085 19,693,816.95 5,866.95 .628 .644

1310: U.S. TREASURY BOND 912828U40 U.S. TREASURY BOND 11/30/2018 1.0001.115 25,000,000.00 24,943,359.38 99.809000 24,952,250.00 8,890.62 .166 .167 9128282K5 U.S. TREASURY BOND 07/31/2019 1.3751.428 25,000,000.00 24,975,585.94 99.012000 24,753,000.00 -222,585.94 .824 .833 9128282K5 U.S. TREASURY BOND 07/31/2019 1.3751.418 25,000,000.00 24,980,468.75 99.012000 24,753,000.00 -227,468.75 .824 .833 912828WD8 U.S. TREASURY BOND 10/31/2018 1.2501.803 25,000,000.00 24,897,460.94 99.934000 24,983,500.00 86,039.06 .084 .085 912828W30 U.S. TREASURY BOND 02/28/2019 1.1252.048 20,000,000.00 19,811,718.75 99.488000 19,897,600.00 85,881.25 .409 .414 912828R44 U.S. TREASURY BOND 05/15/2019 .8752.297 15,000,000.00 14,819,531.25 99.012000 14,851,800.00 32,268.75 .616 .622 912828V56 U.S. TREASURY BOND 01/31/2019 1.1252.308 40,000,000.00 39,837,500.00 99.605000 39,842,000.00 4,500.00 .333 .337 1.1751.782 175,000,000.00 174,265,625.01 99.447514 174,033,150.00 -232,475.01 .446 .451

1425: FHLMC-Fxd-S 30/ 360 3134G72T7 FHLMC 3YrNc6MoB 10/29/2018 1.0501.050 5,000,000.00 5,000,000.00 99.909000 4,995,450.00 -4,550.00 .079 .079 3134G72T7 FHLMC 3YrNc6MoB 10/29/2018 1.0501.050 10,000,000.00 10,000,000.00 99.909000 9,990,900.00 -9,100.00 .079 .079 3134G8QE2 FHLMC 3YrNc1YrE 03/29/2019 1.3001.300 9,000,000.00 9,000,000.00 99.452000 8,950,680.00 -49,320.00 .490 .493 3134G8QB8 FHLMC 3YrNc1YrE 03/29/2019 1.2701.270 4,000,000.00 4,000,000.00 99.438000 3,977,520.00 -22,480.00 .490 .493 3134G8TG4 FHLMC 3.5YrNc6MoE 10/11/2019 1.5001.500 15,000,000.00 15,000,000.00 98.800000 14,820,000.00 -180,000.00 1.012 1.030 3134G9Q75 FHLMC 3YrNc3MoB 07/26/2019 1.2501.250 10,000,000.00 10,000,000.00 98.945000 9,894,500.00 -105,500.00 .814 .819 3134GABZ6 FHLMC 3.5YrNc1YrE 02/25/2020 1.2501.250 10,000,000.00 10,000,000.00 97.920000 9,792,000.00 -208,000.00 1.385 1.405 3134GAVF8 FHLMC 3.5YrNc1YrE 05/08/2020 1.2001.200 15,000,000.00 15,000,000.00 97.566000 14,634,900.00 -365,100.00 1.578 1.605 3134GAXZ2 FHLMC 4YrNc6MoE 11/25/2020 1.3701.370 25,000,000.00 25,000,000.00 96.882000 24,220,500.00 -779,500.00 2.105 2.156 3134G AYK4 FHLMC 4YrNc1YrE 11/30/2020 1.4401.440 10,000,000.00 10,000,000.00 97.004000 9,700,400.00 -299,600.00 2.116 2.170 3134GAK78 FHLMC 1.5YrNc1MoB 01/25/2019 1.3501.350 10,000,000.00 10,000,000.00 99.691000 9,969,100.00 -30,900.00 .318 .321 3134GBWH1 FHLMC 2.25YrNc6MoB 09/27/2019 1.5001.509 6,250,000.00 6,248,750.00 98.853000 6,178,312.50 -70,437.50 .981 .992 3134G BYS5 FHLMC 2YrNc3MoB 07/26/2019 1.6001.600 5,000,000.00 5,000,000.00 99.113000 4,955,650.00 -44,350.00 .812 .819 3134G BK35 FHLMC 3YrNc3MoB 09/29/2020 1.8001.800 15,000,000.00 15,000,000.00 97.864000 14,679,600.00 -320,400.00 1.953 2.000 3137EAEE5 FHLMC 2.75Yr 01/17/2020 1.5001.602 25,000,000.00 24,942,750.00 98.440000 24,610,000.00 -332,750.00 1.276 1.299 3134G BTX0 FHLMC 2.75YrNc2MoB 06/29/2020 1.7501.780 20,000,000.00 19,983,860.00 98.207000 19,641,400.00 -342,460.00 1.706 1.748 3134GBG30 FHLMC 2YrNc5MoB 09/27/2019 1.5001.620 20,000,000.00 19,953,600.00 98.850000 19,770,000.00 -183,600.00 .980 .992 3134GBG30 FHLMC 2YrNc6MoB 09/27/2019 1.5001.621 25,000,000.00 24,942,500.00 98.850000 24,712,500.00 -230,000.00 .980 .992 3134G92B2 FHLMC 2YrNc8MoE 01/30/2019 .9501.734 20,000,000.00 19,820,000.00 99.541000 19,908,200.00 88,200.00 .331 .334 3134G9NH6 FHLMC 1.5YrNc5MoE 05/24/2019 1.0801.809 10,000,000.00 9,895,000.00 99.084000 9,908,400.00 13,400.00 .642 .647 3134G9W37 FHLMC 2.5YrNc3MoB 08/10/2020 1.4502.421 10,000,000.00 9,769,000.00 97.509000 9,750,900.00 -18,100.00 1.817 1.863 3134GBX80 FHLMC 4.5YrNc7MoB 11/14/2022 2.3002.755 12,628,000.00 12,381,754.00 96.568000 12,194,607.04 -187,146.96 3.867 4.126 3134GSMF9 FHLMC 5YrNc3YrE 05/26/2023 3.0003.000 15,000,000.00 15,000,000.00 98.889000 14,833,350.00 -166,650.00 4.273 4.655 3134GSQL2 FHLMC 5YrNc2YrE 06/29/2023 3.1003.100 5,000,000.00 5,000,000.00 99.230000 4,961,500.00 -38,500.00 4.350 4.748 1.5341.684 311,878,000.00 310,937,214.00 98.452077 307,050,369.54 -3,886,844.46 1.472 1.527

1460: FHLMC-STEP%-Q30/ 360 3134GAPS7 FHLMC 2YrNc1MoB 10/24/2019 1.6251.767 15,000,000.00 14,973,750.00 99.445000 14,916,750.00 -57,000.00 1.057 1.066 1.6251.767 15,000,000.00 14,973,750.00 99.445000 14,916,750.00 -57,000.00 1.057 1.066

1465: FHLMC-STEP%-S30/ 360 3134G7S77 FHLMC 5YrNc6MoB 10/29/2020 1.2501.250 15,000,000.00 15,000,000.00 98.934000 14,840,100.00 -159,900.00 2.040 2.082 3134G 8KU2 FHLMC 5YrNc6MoB 02/26/2021 1.5001.500 10,000,000.00 10,000,000.00 98.085000 9,808,500.00 -191,500.00 2.357 2.411 3134G8L31 FHLMC 5YrNc6MoB 02/26/2021 1.5001.500 10,000,000.00 10,000,000.00 98.762000 9,876,200.00 -123,800.00 2.357 2.411 3134G9JX6 FHLMC 5YrNc3MoB 06/09/2021 1.6001.600 15,000,000.00 15,000,000.00 96.841000 14,526,150.00 -473,850.00 2.612 2.693 3134G9JW8 FHLMC 5YrNc3MoB 05/25/2021 1.5001.500 20,000,000.00 20,000,000.00 96.903000 19,380,600.00 -619,400.00 2.578 2.652 3134G9NU7 FHLMC 5YrNc3MoB 06/16/2021 1.7501.757 15,000,000.00 14,997,000.00 97.302000 14,595,300.00 -401,700.00 2.632 2.712 3134G9UM7 FHLMC 5YrNc3MoB 06/30/2021 1.5001.500 15,000,000.00 15,000,000.00 96.816000 14,522,400.00 -477,600.00 2.675 2.751 3134G9VA2 FHLMC 5YrNc6MoB 06/30/2021 1.3001.300 15,000,000.00 15,000,000.00 97.622000 14,643,300.00 -356,700.00 2.685 2.751 3134G9UX3 FHLMC 5YrNc3MoB 06/30/2021 1.5001.500 10,000,000.00 10,000,000.00 96.481000 9,648,100.00 -351,900.00 2.675 2.751 3134G9UH8 FHLMC 3.5YrNc3MoB 12/30/2019 2.0002.000 15,000,000.00 15,000,000.00 99.647000 14,947,050.00 -52,950.00 1.230 1.249 3134G9XA0 FHLMC 5YrNc6MoB 07/13/2021 1.7501.750 15,000,000.00 15,000,000.00 98.271000 14,740,650.00 -259,350.00 2.716 2.786 3134G9S40 FHLMC 4YrNc6MoB 07/27/2020 1.3001.300 15,000,000.00 15,000,000.00 97.408000 14,611,200.00 -388,800.00 1.796 1.825 3134G9R66 FHLMC 5YrNc3MoB 08/10/2021 1.5001.500 15,000,000.00 15,000,000.00 96.438000 14,465,700.00 -534,300.00 2.794 2.863 3134G9S57 FHLMC 4YrNc6MoB 08/10/2020 1.3001.300 15,000,000.00 15,000,000.00 97.329000 14,599,350.00 -400,650.00 1.832 1.863 3134G9T23 FHLMC 5YrNc3MoB 08/10/2021 1.5001.500 10,000,000.00 10,000,000.00 96.877000 9,687,700.00 -312,300.00 2.794 2.863 3134G9U47 FHLMC 5YrNc3MoB 08/25/2021 1.5001.500 15,000,000.00 15,000,000.00 96.304000 14,445,600.00 -554,400.00 2.826 2.904 3134G95W3 FHLMC 5YrNc3MoB 08/25/2021 1.5001.500 10,000,000.00 10,000,000.00 95.705000 9,570,500.00 -429,500.00 2.826 2.904 3134G96A0 FHLMC 5YrNc3MoB 08/25/2021 1.3751.375 15,000,000.00 15,000,000.00 96.461000 14,469,150.00 -530,850.00 2.833 2.904 3134G AEB6 FHLMC 4.25YrNc3MoB 12/08/2020 1.2501.250 20,000,000.00 20,000,000.00 97.109000 19,421,800.00 -578,200.00 2.145 2.192 3134GAEG5 FHLMC 5YrNc6MoB 08/24/2021 1.5001.500 20,000,000.00 20,000,000.00 97.241000 19,448,200.00 -551,800.00 2.832 2.901 3134GADP6 FHLMC 5YrNc3MoB 09/13/2021 1.5001.500 16,500,000.00 16,500,000.00 96.705000 15,956,325.00 -543,675.00 2.876 2.956 3134G AET7 FHLMC 5YrNc3MoB 09/30/2021 1.5001.500 20,000,000.00 20,000,000.00 96.497000 19,299,400.00 -700,600.00 2.923 3.003 3134G AKY9 FHLMC 5YrNc6MoB 09/30/2021 1.4501.450 15,000,000.00 15,000,000.00 96.811000 14,521,650.00 -478,350.00 2.925 3.003 3134GANB6 FHLMC 5YrNc6MoB 09/30/2021 1.5001.500 15,000,000.00 15,000,000.00 96.384000 14,457,600.00 -542,400.00 2.928 3.003 3134GAPM0 FHLMC 5YrNc3MoB 10/25/2021 1.3751.375 10,000,000.00 10,000,000.00 96.436000 9,643,600.00 -356,400.00 2.978 3.071 3134GAPM0 FHLMC 5YrNc3MoB 10/25/2021 1.3751.375 6,705,000.00 6,705,000.00 96.436000 6,466,033.80 -238,966.20 2.978 3.071 3134GAPA6 FHLMC 5YrNc3MoB 10/27/2020 1.2501.250 10,000,000.00 10,000,000.00 97.772000 9,777,200.00 -222,800.00 2.031 2.077 3134GAQV9 FHLMC 5YrNc6MoB 10/27/2021 1.4001.400 15,000,000.00 15,000,000.00 95.898000 14,384,700.00 -615,300.00 2.982 3.077 3134GAQV9 FHLMC 5YrNc6MoB 10/27/2021 1.4001.400 15,000,000.00 15,000,000.00 95.898000 14,384,700.00 -615,300.00 2.982 3.077 3134G ARL0 FHLMC 5YrNc6MoB 10/28/2021 1.2501.250 10,000,000.00 10,000,000.00 97.956000 9,795,600.00 -204,400.00 2.995 3.079

C O UNTY O F RIVERSIDE TREASURER-TAX C O LLECTOR 63 9 Mo nth End Portfo lio Ho lding s

C USIP De sc riptio n Ma turity Coupon Yield Par Book Marke t Ma rke t Unrea lize d Mo dified Ye ars To Da te To Ma t Value Value Pric e Value Gain/ Loss Duration Ma turity 3134G ASF2 FHLMC 5YrNc3MoB 10/27/2021 1.5001.500 15,000,000.00 15,000,000.00 96.333000 14,449,950.00 -550,050.00 2.975 3.077 3134G ASF2 FHLMC 5YrNc3MoB 10/27/2021 1.5001.500 15,000,000.00 15,000,000.00 96.333000 14,449,950.00 -550,050.00 2.975 3.077 3134G ATA2 FHLMC 5YrNc3MoB 10/27/2021 1.4001.400 10,000,000.00 10,000,000.00 96.017000 9,601,700.00 -398,300.00 2.982 3.077 3134G ATB0 FHLMC 5YrNc3MoB 11/10/2021 1.5501.550 17,000,000.00 17,000,000.00 96.198000 16,353,660.00 -646,340.00 3.008 3.115 3134G ATA2 FHLMC 5YrNc3MoB 10/27/2021 1.4001.400 14,000,000.00 14,000,000.00 96.017000 13,442,380.00 -557,620.00 2.982 3.077 3134GAUA0 FHLMC 5YrNc3MoB 11/30/2021 1.5001.500 4,500,000.00 4,500,000.00 96.120000 4,325,400.00 -174,600.00 3.066 3.170 3134G AYF5 FHLMC 5YrNc3MoB 11/26/2021 1.5501.550 20,000,000.00 20,000,000.00 96.113000 19,222,600.00 -777,400.00 3.052 3.159 3134GAYG3 FHLMC 5YrNc3MoB 12/09/2021 1.5001.500 10,000,000.00 10,000,000.00 96.987000 9,698,700.00 -301,300.00 3.091 3.195 3134GAYR9 FHLMC 5YrNc3MoB 12/09/2021 1.6501.650 20,000,000.00 20,000,000.00 97.384000 19,476,800.00 -523,200.00 3.081 3.195 3134GAA87 FHLMC 5YrNc3MoB 12/30/2021 1.9001.900 10,000,000.00 10,000,000.00 97.090000 9,709,000.00 -291,000.00 3.123 3.252 3134GAA87 FHLMC 5YrNc3MoB 12/30/2021 1.9001.900 10,000,000.00 10,000,000.00 97.090000 9,709,000.00 -291,000.00 3.123 3.252 3134GAZ49 FHLMC 3YrNc6MoB 02/24/2020 2.0002.000 20,000,000.00 20,000,000.00 99.943000 19,988,600.00 -11,400.00 1.377 1.403 3134G7S77 FHLMC 3.5Yr 10/29/2020 1.2501.327 7,125,000.00 7,108,968.75 98.934000 7,049,047.50 -59,921.25 2.039 2.082 3134GBGB2 FHLMC 3.5YrNc6MoB 10/27/2020 1.7501.750 15,000,000.00 15,000,000.00 99.510000 14,926,500.00 -73,500.00 2.023 2.077 3134G BHN5 FHLMC 3YrNc3MoB 04/27/2020 1.5001.500 10,000,000.00 10,000,000.00 99.024000 9,902,400.00 -97,600.00 1.541 1.575 3134GBKC5 FHLMC 3YrNc3MoB 04/27/2020 1.6501.650 20,000,000.00 20,000,000.00 97.875000 19,575,000.00 -425,000.00 1.540 1.575 3134GBMP4 FHLMC 3YrNc3MoB 05/22/2020 1.5001.500 10,000,000.00 10,000,000.00 98.766000 9,876,600.00 -123,400.00 1.610 1.644 3134G BPJ5 FHLMC 3YrNc6MoB 05/22/2020 1.6001.600 20,000,000.00 20,000,000.00 98.410000 19,682,000.00 -318,000.00 1.608 1.644 3134G BSE3 FHLMC 4YrNc6MoB 02/24/2021 1.6501.650 15,000,000.00 15,000,000.00 97.907000 14,686,050.00 -313,950.00 2.340 2.405 3134GBSD5 FHLMC 3YrNc6MoB 11/24/2020 1.6001.600 15,000,000.00 15,000,000.00 97.920000 14,688,000.00 -312,000.00 2.094 2.153 3134G BTD4 FHLMC 5YrNc3MoB 06/29/2022 2.0502.050 20,000,000.00 20,000,000.00 97.393000 19,478,600.00 -521,400.00 3.571 3.748 3134G BTE2 FHLMC 5YrNc6MoB 06/22/2022 2.0002.000 15,000,000.00 15,000,000.00 96.809000 14,521,350.00 -478,650.00 3.556 3.729 3134G BYK2 FHLMC 5YrNc3MoB 07/05/2022 2.0002.000 20,000,000.00 20,000,000.00 97.580000 19,516,000.00 -484,000.00 3.592 3.764 3134GBWD0 FHLMC 3.5YrNc3MoB 01/20/2021 1.5001.500 10,000,000.00 10,000,000.00 98.600000 9,860,000.00 -140,000.00 2.252 2.310 3134GBWS7 FHLMC 5YrNc3MoB 07/27/2022 2.0502.050 20,000,000.00 20,000,000.00 97.060000 19,412,000.00 -588,000.00 3.648 3.825 3134GBYN6 FHLMC 5YrNc3MoB 07/27/2022 2.1002.100 20,000,000.00 20,000,000.00 97.483000 19,496,600.00 -503,400.00 3.644 3.825 3134G92T3 FHLMC 5YrNc3MoB 08/08/2023 1.5002.399 5,000,000.00 4,790,170.00 95.243000 4,762,150.00 -28,020.00 4.631 4.858 3134GBZQ8 FHLMC 5YrNc2MoB 07/27/2022 2.2502.732 3,000,000.00 2,946,600.00 97.470000 2,924,100.00 -22,500.00 3.621 3.825 1.5871.596 813,830,000.00 813,547,738.75 97.283032 791,718,496.30 -21,829,242.45 2.660 2.745

1525: FNMA-Fxd-S 30/ 360 3136G 3RL1 FNMA 3.5YrNc6MoB 12/16/2019 1.5001.500 5,000,000.00 5,000,000.00 98.579000 4,928,950.00 -71,050.00 1.191 1.211 3136G3WC5 FNMA 4YrNc6MoE 07/13/2020 1.3501.350 10,000,000.00 10,000,000.00 97.528000 9,752,800.00 -247,200.00 1.754 1.786 3136G3SY2 FNMA 3.25YrNc6MoB 09/30/2019 1.2501.250 7,500,000.00 7,500,000.00 98.640000 7,398,000.00 -102,000.00 .991 1.000 3135G0M26 FNMA 3YrNc6MoE 07/26/2019 1.0001.000 10,000,000.00 10,000,000.00 98.710000 9,871,000.00 -129,000.00 .816 .819 3135G0M26 FNMA 3YrNc6MoE 07/26/2019 1.0001.000 10,000,000.00 10,000,000.00 98.710000 9,871,000.00 -129,000.00 .816 .819 3136G3XS9 FNMA 2.5YrNc6MoE 01/25/2019 .875.900 7,500,000.00 7,495,350.00 99.547000 7,466,025.00 -29,325.00 .319 .321 3136G3A62 FNMA 3YrNc1YrE 07/26/2019 1.0501.050 15,000,000.00 15,000,000.00 98.750000 14,812,500.00 -187,500.00 .815 .819 3136G3P25 FNMA 3.5YrNc1YrE 07/26/2019 1.1251.125 25,000,000.00 25,000,000.00 98.810000 24,702,500.00 -297,500.00 .815 .819 3135G0R39 FNMA 3Yr 10/24/2019 1.0001.091 10,000,000.00 9,973,200.00 98.249000 9,824,900.00 -148,300.00 1.053 1.066 3136G4GU1 FNMA 3YrNc6MoB 11/25/2019 1.4001.400 10,000,000.00 10,000,000.00 98.577000 9,857,700.00 -142,300.00 1.134 1.153 3135G0T60 FNMA 3Yr 07/30/2020 1.5001.604 10,000,000.00 9,969,700.00 97.724000 9,772,400.00 -197,300.00 1.797 1.833 3136G 0YK1 FNMA 2Yr 08/28/2019 1.5001.400 10,000,000.00 10,019,600.00 99.005000 9,900,500.00 -119,100.00 .907 .910 3135G0S46 FNMA 2.16Yr2MoB 01/27/2020 1.6501.800 5,000,000.00 4,983,850.00 98.578000 4,928,900.00 -54,950.00 1.301 1.326 3136G1MG1 FNMA 1.4YrNC5MoB 05/29/2019 1.3001.833 10,000,000.00 9,922,200.00 99.224000 9,922,400.00 200.00 .655 .660 3135G0J53 FNMA 1.25Yr 02/26/2019 1.0001.761 25,000,000.00 24,770,250.00 99.473000 24,868,250.00 98,000.00 .404 .408 3135G0A78 FNMA 2Yr 01/21/2020 1.6251.911 15,000,000.00 14,910,900.00 98.577000 14,786,550.00 -124,350.00 1.284 1.310 3135G0UU5 FNMA 2.25Yr 03/06/2020 1.7501.913 11,082,000.00 11,042,326.44 98.607000 10,927,627.74 -114,698.70 1.407 1.433 3135G0T78 FNMA 4.83Yr 10/05/2022 2.0002.322 15,000,000.00 14,782,200.00 96.194000 14,429,100.00 -353,100.00 3.794 4.016 3135G0T94 FNMA 5Yr 01/19/2023 2.3752.495 10,000,000.00 9,944,100.00 97.487000 9,748,700.00 -195,400.00 4.047 4.307 1.3511.522 221,082,000.00 220,313,676.44 98.501824 217,769,802.74 -2,543,873.70 1.288 1.326

1560: FNMA-STEP%-Q 30/ 360 3136G3SG1 FNMA 4.25YrNc6MoB 09/09/2020 1.5001.500 15,000,000.00 15,000,000.00 97.156000 14,573,400.00 -426,600.00 1.910 1.945 1.5001.500 15,000,000.00 15,000,000.00 97.156000 14,573,400.00 -426,600.00 1.910 1.945

1565: FNMA-STEP%-S 30/ 360 3136G3BX2 FNMA 4YrNc6MoB 03/09/2020 1.7501.750 15,000,000.00 15,000,000.00 98.930000 14,839,500.00 -160,500.00 1.420 1.441 3136G 3EH4 FNMA 4YrNc6MoB 03/30/2020 2.0002.000 10,000,000.00 10,000,000.00 99.505000 9,950,500.00 -49,500.00 1.476 1.499 3136G3DV4 FNMA 5YrNc6MoB 03/30/2021 1.7501.750 15,000,000.00 15,000,000.00 96.768000 14,515,200.00 -484,800.00 2.445 2.499 3136G3PB5 FNMA 5YrNc6MoB 06/09/2021 1.5501.550 15,000,000.00 15,000,000.00 96.868000 14,530,200.00 -469,800.00 2.614 2.693 3136G3TG0 FNMA 4YrNc6MoB 06/30/2020 1.3751.375 20,000,000.00 20,000,000.00 97.891000 19,578,200.00 -421,800.00 1.721 1.751 3136G 3XT7 FNMA 5YrNc6MoB 07/27/2021 1.3001.300 15,000,000.00 15,000,000.00 95.858000 14,378,700.00 -621,300.00 2.761 2.825 3136G3ZW8 FNMA 5YrNc6MoB 07/27/2021 1.3751.375 20,000,000.00 20,000,000.00 96.106000 19,221,200.00 -778,800.00 2.760 2.825 3136G3Y74 FNMA 4YrNc6MoB 11/24/2020 1.2501.250 15,000,000.00 15,000,000.00 96.805000 14,520,750.00 -479,250.00 2.109 2.153 1.5121.514 125,000,000.00 125,000,000.00 97.227400 121,534,250.00 -3,465,750.00 2.191 2.239

1725: FHLB-Fxd-S 30/ 360 3130A7PV1 FHLB 5Yr 04/05/2021 1.3751.390 5,000,000.00 4,996,350.00 96.361000 4,818,050.00 -178,300.00 2.446 2.515 3130A7PU3 FHLB 4Yr 04/06/2020 1.2001.210 10,000,000.00 9,996,000.00 97.646000 9,764,600.00 -231,400.00 1.490 1.518 3130A8WS8 FHLB 2YrNc1YrE 11/23/2018 1.0001.000 9,500,000.00 9,500,000.00 99.828000 9,483,660.00 -16,340.00 .147 .148 3130A8Y72 FHLB 3Yr 08/05/2019 .875.940 15,000,000.00 14,971,200.00 98.562000 14,784,300.00 -186,900.00 .841 .847 3130A9AE1 FHLB 2Yr 10/01/2018 .875.908 10,000,000.00 9,993,200.00 100.000000 10,000,000.00 6,800.00 .003 .003 3130ABB21 FHLB 2.25YrNc2YrE 07/26/2019 1.3751.444 10,000,000.00 9,986,000.00 99.058000 9,905,800.00 -80,200.00 .813 .819 3130ABRS7 FHLB 2Yr 07/12/2019 1.4601.483 10,000,000.00 9,995,400.00 99.155000 9,915,500.00 -79,900.00 .774 .781 3130ABYZ3 FHLB 2.75YrNc9MoE 05/22/2020 1.6001.600 5,000,000.00 5,000,000.00 98.057000 4,902,850.00 -97,150.00 1.608 1.644 3130AC2C7 FHLB 3YrNc1YrE 08/28/2020 2.0001.790 10,000,000.00 10,061,000.00 98.449000 9,844,900.00 -216,100.00 1.870 1.912 3130ABZE9 FHLB 3YrNc1YrE 08/28/2020 1.6501.650 5,000,000.00 5,000,000.00 97.799000 4,889,950.00 -110,050.00 1.877 1.912 3130AC3J1 FHLB 2YrNc3MoB 08/28/2019 1.5501.550 5,000,000.00 5,000,000.00 99.061000 4,953,050.00 -46,950.00 .906 .910 3133782M2 FHLB 2Yr 03/08/2019 1.5001.351 10,000,000.00 10,022,300.00 99.631000 9,963,100.00 -59,200.00 .432 .436 3130ABQ25 FHLB 2.5Yr 03/29/2019 1.3601.350 10,000,000.00 10,001,500.00 99.497000 9,949,700.00 -51,800.00 .490 .493 3130AC3D4 FHLB 1.5Yr 02/08/2019 1.3501.400 12,500,000.00 12,491,375.00 99.664000 12,458,000.00 -33,375.00 .356 .359 3130A9AE1 FHLB 1Yr 10/01/2018 .8751.446 50,000,000.00 49,730,692.00 100.000000 50,000,000.00 269,308.00 .003 .003 3130ABY34 FHLB 2.5Yr 05/29/2020 1.6131.813 10,000,000.00 9,950,500.00 98.051000 9,805,100.00 -145,400.00 1.625 1.663 3130ACBD5 FHLB 2.58YrNc1MoB 06/29/2020 1.6501.861 5,350,000.00 5,321,270.50 98.013000 5,243,695.50 -77,575.00 1.707 1.748 3133782M2 FHLB 1.25Yr 03/08/2019 1.5001.766 15,000,000.00 14,950,500.00 99.631000 14,944,650.00 -5,850.00 .432 .436 313379Q69 FHLB 4.5 Yr 06/10/2022 2.1252.182 7,975,000.00 7,955,620.75 97.082000 7,742,289.50 -213,331.25 3.512 3.696 3130ADFW7 FHLB 3Yr 01/25/2021 2.2002.212 15,000,000.00 14,994,900.00 98.480000 14,772,000.00 -222,900.00 2.241 2.323 3130ABF92 FHLB 1.33Yr 05/28/2019 1.3751.972 10,000,000.00 9,921,300.00 99.263000 9,926,300.00 5,000.00 .651 .658 3130A0XD7 FHLB 3Yr 03/12/2021 2.3752.484 10,000,000.00 9,968,000.00 98.801000 9,880,100.00 -87,900.00 2.363 2.449 3130A0XD7 FHLB 3Yr 03/12/2021 2.3752.489 10,000,000.00 9,966,500.00 98.801000 9,880,100.00 -86,400.00 2.363 2.449 3130ADPR7 FHLB 2.5YrNc3MoB 09/15/2020 2.5002.500 5,000,000.00 5,000,000.00 99.376000 4,968,800.00 -31,200.00 1.898 1.962 313378WG2 FHLB 4.08Yr 03/11/2022 2.5002.619 10,000,000.00 9,954,700.00 98.550000 9,855,000.00 -99,700.00 3.277 3.447 3130ADR53 FHLB 2YrNc3MoB 03/20/2020 2.3502.350 10,000,000.00 10,000,000.00 99.224000 9,922,400.00 -77,600.00 1.438 1.471 3130AAE46 FHLB 10Mo 01/16/2019 1.2502.121 23,155,000.00 22,988,052.45 99.704000 23,086,461.20 98,408.75 .293 .296 3130ADG48 FHLB 2.83YrNc1.33YrE 01/29/2021 2.2502.553 20,000,000.00 19,833,600.00 98.428000 19,685,600.00 -148,000.00 2.247 2.334 3130ADG48 FHLB 2.75YrNc1.25YrE 01/29/2021 2.2502.513 10,000,000.00 9,928,600.00 98.428000 9,842,800.00 -85,800.00 2.247 2.334 3130AAE46 FHLB 9Mo 01/16/2019 1.2502.131 50,000,000.00 49,658,000.00 99.704000 49,852,000.00 194,000.00 .293 .296 313382AX1 FHLB 4.9Yr 03/10/2023 2.1252.716 11,750,000.00 11,432,397.50 96.394000 11,326,295.00 -106,102.50 4.200 4.444 3130A8DB6 FHLB 1.167Yr 06/21/2019 1.1252.263 10,620,000.00 10,480,240.80 98.984000 10,512,100.80 31,860.00 .714 .723 3130AE6U9 FHLB 3Yr 05/07/2021 2.7002.725 7,650,000.00 7,644,492.00 99.533000 7,614,274.50 -30,217.50 2.471 2.603 3130AE6U9 FHLB 3Yr 05/07/2021 2.7002.703 10,000,000.00 9,999,100.00 99.533000 9,953,300.00 -45,800.00 2.471 2.603 3133XTYY6 FHLB 11Mo 06/14/2019 4.3752.373 5,000,000.00 5,092,350.00 101.281000 5,064,050.00 -28,300.00 .687 .704 3130A9M40 FHLB 4.17Yr 09/29/2022 1.6502.929 15,730,000.00 14,940,354.00 94.945000 14,934,848.50 -5,505.50 3.825 4.000 3130A8R54 FHLB 4.9YrNc1Mo 07/28/2023 1.8002.965 3,700,000.00 3,504,196.00 94.396000 3,492,652.00 -11,544.00 4.557 4.827 1.6111.942 452,930,000.00 450,229,691.00 98.897904 447,938,277.00 -2,291,414.00 1.280 1.326

C O UNTY O F RIVERSIDE TREASURER-TAX C O LLECTOR 64 10 Mo nth End Portfo lio Ho lding s

C USIP De sc riptio n Ma turity Coupon Yield Par Book Marke t Ma rke t Unrea lize d Mo dified Ye ars To Da te To Ma t Value Value Pric e Value Gain/ Loss Duration Ma turity 1760: FHLB-STEP%-Q 30/ 360 3130A8UH4 FHLB 3YrNcMoB 08/15/2019 2.0002.000 25,000,000.00 25,000,000.00 99.849000 24,962,250.00 -37,750.00 .868 .874 2.0002.000 25,000,000.00 25,000,000.00 99.849000 24,962,250.00 -37,750.00 .868 .874

1765: FHLB-STEP%- S 30/ 360 3130A9DH1 FHLB 5YrNc3MoB 09/30/2021 1.5001.500 15,000,000.00 15,000,000.00 97.129000 14,569,350.00 -430,650.00 2.928 3.003 3130A9DA6 FHLB 5YrNc3MoB 09/30/2021 1.5001.500 15,000,000.00 15,000,000.00 97.103000 14,565,450.00 -434,550.00 2.928 3.003 3130AA2T4 FHLB 5YrNc6MoB 12/09/2021 1.6001.600 10,000,000.00 10,000,000.00 96.642000 9,664,200.00 -335,800.00 3.085 3.195 3130AA2T4 FHLB 5YrNc6MoB 12/09/2021 1.6001.600 10,000,000.00 10,000,000.00 96.642000 9,664,200.00 -335,800.00 3.085 3.195 3130AA5A2 FHLB 5YrNc1YrB 12/08/2021 1.7001.700 15,000,000.00 15,000,000.00 97.472000 14,620,800.00 -379,200.00 3.075 3.192 3130ABQV1 FHLB 5YrNc6MoB 07/26/2022 2.0002.000 15,000,000.00 15,000,000.00 97.460000 14,619,000.00 -381,000.00 3.650 3.822 3130ABVZ6 FHLB 5YrNc6MoB 02/09/2022 1.7501.750 20,000,000.00 20,000,000.00 97.796000 19,559,200.00 -440,800.00 3.240 3.364 3130ABZW9 FHLB 5YrNc3MoB 08/24/2022 2.0002.000 10,000,000.00 10,000,000.00 96.724000 9,672,400.00 -327,600.00 3.727 3.901 3130AC6H2 FHLB 5YrNc3MoB 08/24/2022 2.0002.000 15,000,000.00 15,000,000.00 96.521000 14,478,150.00 -521,850.00 3.727 3.901 3130AC 4T8 FHLB 5YrNc3MoB 05/24/2022 1.8001.800 20,000,000.00 20,000,000.00 97.581000 19,516,200.00 -483,800.00 3.496 3.649 3130A9TV3 FHLB 3.4YrNc2MoB 11/08/2021 1.2502.210 10,000,000.00 9,690,500.00 96.668000 9,666,800.00 -23,700.00 3.006 3.110 3130AA5Y0 FHLB 4.16YrNc2MoB 11/25/2022 1.3752.023 5,100,000.00 4,967,400.00 97.266000 4,960,566.00 -6,834.00 3.987 4.156 1.7051.786 160,100,000.00 159,657,900.00 97.161971 155,556,316.00 -4,101,584.00 3.302 3.431

1767: FHLB-Var-M A/ 360 3130A9FU0 FHLB 4Yr 09/22/2020 2.3622.362 10,000,000.00 10,000,000.00 100.341000 10,034,100.00 34,100.00 1.961 1.981 3130A9FM8 FHLB 4Yr 09/22/2020 2.3622.362 15,000,000.00 15,000,000.00 100.341000 15,051,150.00 51,150.00 1.961 1.981 3130A9FR7 FHLB 4Yr 09/28/2020 2.3922.392 10,000,000.00 10,000,000.00 100.366000 10,036,600.00 36,600.00 1.983 1.997 3130A9FR7 FHLB 4Yr 09/28/2020 2.3922.392 15,000,000.00 15,000,000.00 100.366000 15,054,900.00 54,900.00 1.983 1.997 2.3772.377 50,000,000.00 50,000,000.00 100.353500 50,176,750.00 176,750.00 1.972 1.989

1770: FHLB-Var-Q A/ 360 3130A8NF6 FHLB 3Yr 07/01/2020 2.4622.462 25,000,000.00 25,000,000.00 100.448000 25,112,000.00 112,000.00 1.728 1.753 2.4622.462 25,000,000.00 25,000,000.00 100.448000 25,112,000.00 112,000.00 1.728 1.753

1900: FFCB-DISC NO TE 313313L71 FFCB DISC NOTE 10/24/2018 1.6201.644 20,000,000.00 19,705,700.00 99.865000 19,973,000.00 267,300.00 .065 .066 1.6201.644 20,000,000.00 19,705,700.00 99.865000 19,973,000.00 267,300.00 .065 .066

1925: FFCB-Fxd-S 30/ 360 3133EFHH3 FFCB 3YrNc3MoA 10/15/2018 1.1101.110 5,000,000.00 5,000,000.00 99.952000 4,997,600.00 -2,400.00 .041 .041 3133EFV38 FFCB 3YrNc1YrA 03/29/2019 1.2501.250 10,310,000.00 10,310,000.00 99.385000 10,246,593.50 -63,406.50 .490 .493 3133EF5D5 FFCB 4YrNc1YrA 04/27/2020 1.4201.420 7,700,000.00 7,700,000.00 97.889000 7,537,453.00 -162,547.00 1.543 1.575 3133EGNY7 FFCB 2.5YrNc3MoA 01/28/2019 1.1101.110 25,000,000.00 25,000,000.00 99.497000 24,874,250.00 -125,750.00 .327 .329 3133EGSA4 FFCB 4YrNc1YrA 08/24/2020 1.3201.320 10,000,000.00 10,000,000.00 97.223000 9,722,300.00 -277,700.00 1.868 1.901 3133EGVK8 FFCB 4YrNc1YrA 09/21/2020 1.3501.350 10,000,000.00 10,000,000.00 97.160000 9,716,000.00 -284,000.00 1.942 1.978 3133EGXX8 FFCB 4YrNc1YrA 10/13/2020 1.3401.340 15,000,000.00 15,000,000.00 97.043000 14,556,450.00 -443,550.00 1.990 2.038 3133EGC94 FFCB 4YrNc3MoA 11/02/2020 1.3801.380 10,000,000.00 10,000,000.00 97.038000 9,703,800.00 -296,200.00 2.041 2.093 3133EGR49 FFCB 4YrNc1YrA 12/07/2020 1.7701.770 10,000,000.00 10,000,000.00 97.705000 9,770,500.00 -229,500.00 2.124 2.189 3133EHAJ2 FFCB 3YrNc1YrE 02/27/2020 1.7101.710 10,000,000.00 10,000,000.00 98.557000 9,855,700.00 -144,300.00 1.384 1.411 3133EHNY5 FFCB 1.5Yr 11/21/2018 1.2501.342 10,000,000.00 9,987,200.00 99.874000 9,987,400.00 200.00 .141 .142 3133EHNY5 FFCB 1.5Yr 11/21/2018 1.2501.322 10,000,000.00 9,990,000.00 99.874000 9,987,400.00 -2,600.00 .141 .142 3133EHRK1 FFCB 2.5Yr 01/17/2020 1.5201.520 10,000,000.00 10,000,000.00 98.484000 9,848,400.00 -151,600.00 1.276 1.299 3133EHUL5 FFCB 3Yr 08/10/2020 1.5501.550 5,000,000.00 5,000,000.00 97.699000 4,884,950.00 -115,050.00 1.824 1.863 3133EHWN9 FFCB 2Yr 08/28/2019 1.4001.400 5,000,000.00 5,000,000.00 98.936000 4,946,800.00 -53,200.00 .907 .910 3133EEZ60 FFCB 2Yr 06/24/2019 1.5201.400 5,000,000.00 5,010,640.00 99.276000 4,963,800.00 -46,840.00 .724 .732 3133EHWN9 FFCB 2Yr 08/28/2019 1.4001.410 10,000,000.00 9,998,000.00 98.936000 9,893,600.00 -104,400.00 .907 .910 3133EHZN6 FFCB 3Yr 03/20/2020 1.4501.511 20,000,000.00 19,970,400.00 98.088000 19,617,600.00 -352,800.00 1.450 1.471 3133EHJ95 FFCB 3Yr 10/26/2020 1.7501.760 20,000,000.00 19,994,000.00 97.804000 19,560,800.00 -433,200.00 2.012 2.074 3133EHP98 FFCB 2Yr 11/06/2019 1.6001.667 25,000,000.00 24,967,247.50 98.880000 24,720,000.00 -247,247.50 1.079 1.101 3133EH6X6 FFCB 4Yr 01/12/2022 2.2002.365 10,000,000.00 9,938,000.00 97.685000 9,768,500.00 -169,500.00 3.134 3.288 3133EJEM7 FFCB 3Yr 03/01/2021 2.5002.501 10,000,000.00 9,999,700.00 99.133000 9,913,300.00 -86,400.00 2.329 2.419 3133EJC E7 FFCB 2.8Yr 02/12/2021 2.3502.474 15,000,000.00 14,948,670.00 98.759000 14,813,850.00 -134,820.00 2.281 2.373 3133EJKN8 FFCB 5Yr 04/11/2023 2.7002.721 10,000,000.00 9,990,300.00 98.669000 9,866,900.00 -123,400.00 4.184 4.532 3133EJNS4 FFCB 3Yr 05/10/2021 2.7002.747 10,000,000.00 9,986,600.00 99.518000 9,951,800.00 -34,800.00 2.479 2.611 3133EHFD0 FFCB 4.5Yr 04/11/2023 2.4003.160 5,000,000.00 4,839,900.00 96.936000 4,846,800.00 6,900.00 4.200 4.532 1.6431.684 293,010,000.00 292,630,657.50 98.478737 288,552,546.50 -4,078,111.00 1.576 1.631

1930: FFCB-Var-M A/ 360 3133EDXQ0 FFCB 5Yr 10/10/2019 2.2032.203 15,000,000.00 15,000,000.00 100.154000 15,023,100.00 23,100.00 1.025 1.027 3133EDXQ0 FFCB 5Yr 10/10/2019 2.2032.203 25,000,000.00 25,000,000.00 100.154000 25,038,500.00 38,500.00 1.025 1.027 3133EDXQ0 FFCB 5Yr 10/10/2019 2.2032.225 10,000,000.00 9,997,560.00 100.154000 10,015,400.00 17,840.00 1.025 1.027 3133EFT56 FFCB 4Yr 04/01/2020 2.3392.339 25,000,000.00 25,000,000.00 100.395000 25,098,750.00 98,750.00 1.492 1.504 3133EF2Z9 FFCB 4Yr 04/13/2020 2.3932.393 50,000,000.00 50,000,000.00 100.416000 50,208,000.00 208,000.00 1.525 1.537 3133EGCE3 FFCB 5Yr 05/25/2021 2.4862.486 10,000,000.00 10,000,000.00 100.654000 10,065,400.00 65,400.00 2.622 2.652 3133EGCE3 FFCB 5Yr 05/25/2021 2.4862.486 10,000,000.00 10,000,000.00 100.654000 10,065,400.00 65,400.00 2.622 2.652 3133EGYA7 FFCB 3Yr 10/11/2019 2.3112.311 15,000,000.00 15,000,000.00 100.266000 15,039,900.00 39,900.00 1.025 1.030 3133EGZS7 FFCB 3Yr 10/24/2019 2.3922.392 15,000,000.00 15,000,000.00 100.247000 15,037,050.00 37,050.00 1.061 1.066 3133EGF67 FFCB 3Yr 11/14/2019 2.3042.304 15,000,000.00 15,000,000.00 100.241000 15,036,150.00 36,150.00 1.115 1.123 3133EGF67 FFCB 3Yr 11/14/2019 2.3042.304 15,000,000.00 15,000,000.00 100.241000 15,036,150.00 36,150.00 1.115 1.123 3133EG4C6 FFCB 3.9Yr 01/18/2022 2.4052.116 15,000,000.00 15,139,095.00 100.680000 15,102,000.00 -37,095.00 3.195 3.304 3133EJDG1 FFCB 5Yr 02/21/2023 2.2522.252 15,000,000.00 15,000,000.00 99.948000 14,992,200.00 -7,800.00 4.222 4.397 3133EJFS3 FFCB 3Yr 03/12/2021 2.1492.149 15,000,000.00 15,000,000.00 99.974000 14,996,100.00 -3,900.00 2.392 2.449 3133EJJE0 FFCB 3.5Yr 10/04/2021 2.1392.139 25,000,000.00 25,000,000.00 99.913000 24,978,250.00 -21,750.00 2.917 3.014 3133EJFS3 FFCB 3Yr 03/12/2021 2.1492.149 22,500,000.00 22,500,000.00 99.974000 22,494,150.00 -5,850.00 2.392 2.449 3133EJTG4 FFCB 3Yr 06/28/2021 2.2522.252 5,000,000.00 5,000,000.00 99.994000 4,999,700.00 -300.00 2.667 2.745 3133EJTG4 FFCB 3Yr 06/28/2021 2.2522.252 5,000,000.00 5,000,000.00 99.994000 4,999,700.00 -300.00 2.667 2.745 3133EJZP7 FFCB 3Yr 09/17/2021 2.1782.178 5,000,000.00 5,000,000.00 99.914000 4,995,700.00 -4,300.00 2.864 2.967 3133EJZP7 FFCB 3Yr 09/17/2021 2.1782.178 5,000,000.00 5,000,000.00 99.914000 4,995,700.00 -4,300.00 2.864 2.967 3133EJZP7 FFCB 3Yr 09/17/2021 2.1782.178 5,000,000.00 5,000,000.00 99.914000 4,995,700.00 -4,300.00 2.864 2.967 3133EJZP7 FFCB 3Yr 09/17/2021 2.1782.178 5,000,000.00 5,000,000.00 99.914000 4,995,700.00 -4,300.00 2.864 2.967

2.2832.271 327,500,000.00 327,636,655.00 100.216397 328,208,700.00 572,045.00 1.953 1.995

1950: FMAC-Fxd-S 30/ 360 3132X0WK3 FAMCA 2Yr 08/20/2019 1.4401.442 5,000,000.00 4,999,800.00 99.010000 4,950,500.00 -49,300.00 .879 .888 3132X0WY3 FAMCA 2Yr 09/26/2019 1.4201.420 10,000,000.00 10,000,000.00 98.902000 9,890,200.00 -109,800.00 .978 .989 3132X0A50 FAMCA 1.4Yr 05/15/2019 1.8101.810 10,000,000.00 10,000,000.00 99.590000 9,959,000.00 -41,000.00 .615 .622 3132X0C41 FAMCA 1.5Yr 06/24/2019 1.8601.860 20,000,000.00 20,000,000.00 99.526000 19,905,200.00 -94,800.00 .722 .732 3132X0C74 FAMCA 2.08Yr 02/03/2020 1.9701.970 15,000,000.00 15,000,000.00 99.143000 14,871,450.00 -128,550.00 1.314 1.345 3132X0F97 FAMCA 1Yr 01/29/2019 1.9001.900 25,000,000.00 25,000,000.00 99.816000 24,954,000.00 -46,000.00 .328 .332 3132X02Y6 FAMCA 1.58Yr 01/02/2020 2.5302.530 20,000,000.00 20,000,000.00 99.904000 19,980,800.00 -19,200.00 1.233 1.258 3132X03B5 FAMCA 4.9Yr 06/30/2023 2.8502.964 10,000,000.00 9,947,900.00 99.111000 9,911,100.00 -36,800.00 4.385 4.751 3132X04F5 FAMCA 2.91Yr 07/23/2021 2.8402.864 10,000,000.00 9,993,300.00 99.889000 9,988,900.00 -4,400.00 2.674 2.814 2.0902.102 125,000,000.00 124,941,000.00 99.528920 124,411,150.00 -529,850.00 1.262 1.315

1965: FMAC-Var-M A/ 360 3132X0AT8 FAMCA 2.5 Yr 06/02/2020 2.2442.096 25,000,000.00 25,063,500.00 100.269000 25,067,250.00 3,750.00 1.649 1.674 3132X0S77 FAMCA 3Yr 04/23/2021 2.2662.266 25,000,000.00 25,000,000.00 100.091000 25,022,750.00 22,750.00 2.496 2.564 3132X0U90 FAMCA 3Yr 05/10/2021 2.1532.153 10,000,000.00 10,000,000.00 100.008000 10,000,800.00 800.00 2.540 2.611 2.2382.176 60,000,000.00 60,063,500.00 100.151333 60,090,800.00 27,300.00 2.150 2.201

CO UNTY O F RIVERSIDE TREASURER-TAX C O LLECTOR 65 11 Mo nth End Portfo lio Ho lding s

C USIP De sc riptio n Ma turity Coupon Yield Par Book Marke t Ma rke t Unrea lize d Mo dified Ye ars To Da te To Ma t Value Value Pric e Value Gain/ Loss Duration Ma turity

1975: FMAC-Var-Q A/ 360 3132X0ED9 FAMCA 3Yr 03/19/2019 2.4092.409 10,000,000.00 10,000,000.00 100.115000 10,011,500.00 11,500.00 .466 .466 3132X0EV9 FAMCA 3Yr 07/26/2019 2.4752.475 15,000,000.00 15,000,000.00 100.246000 15,036,900.00 36,900.00 .814 .819 2.4482.448 25,000,000.00 25,000,000.00 100.193600 25,048,400.00 48,400.00 .675 .678

2350: MUNIS-S 30/ 360 882723A33 TEXAS STATE 10/01/2019 1.4971.497 5,000,000.00 5,000,000.00 100.000000 5,000,000.00 0.00 .984 1.003 419792JG2 HAWAII STATE 04/01/2019 1.3801.380 4,990,000.00 4,990,000.00 100.000000 4,990,000.00 0.00 .496 .501 419792JH0 HAWAII STATE 04/01/2020 1.6601.660 5,055,000.00 5,055,000.00 100.000000 5,055,000.00 0.00 1.466 1.504 76222RUM2 RHODE ISLAND STATE 05/01/2020 1.6251.520 2,660,000.00 2,670,719.80 100.403000 2,670,719.80 0.00 1.550 1.586 76222RUL4 RHODE ISLAND STATE 05/01/2019 1.3751.220 2,625,000.00 2,636,838.75 100.451000 2,636,838.75 0.00 .579 .584 3733845L6 GEORGIA STATE 07/01/2020 3.0001.370 6,825,000.00 7,254,770.25 106.297000 7,254,770.25 0.00 1.698 1.753 3733845K8 GEORGIA STATE 07/01/2019 3.0001.110 6,580,000.00 6,943,874.00 105.530000 6,943,874.00 0.00 .741 .751 041042ZT2 ARKANSAS STATE 06/01/2019 2.0001.024 13,470,000.00 13,837,192.20 102.726000 13,837,192.20 0.00 .661 .668 419792ND4 HAWAII STATE 10/01/2018 1.000.911 4,870,000.00 4,878,473.80 100.174000 4,878,473.80 0.00 .003 .003 419792NE2 HAWAII STATE 10/01/2019 1.1511.101 2,250,000.00 2,253,262.50 100.145000 2,253,262.50 0.00 .989 1.003 419792NF9 HAWAII STATE 10/01/2020 1.3701.319 2,250,000.00 2,254,320.00 100.192000 2,254,320.00 0.00 1.956 2.005 13063C4V9 CALIFORNIA STATE 11/01/2018 1.050.950 50,000,000.00 50,098,500.00 100.197000 50,098,500.00 0.00 .087 .088 68609BXK8 OREGON STATE 05/01/2019 1.4501.450 1,830,000.00 1,829,981.70 99.999000 1,829,981.70 0.00 .578 .584 68609BYC5 OREGON STATE 04/01/2019 1.4401.441 1,750,000.00 1,749,982.50 99.999000 1,749,982.50 0.00 .496 .501 93974DV39 WASHINGTON STATE 08/01/2019 1.5001.541 8,745,000.00 8,738,703.60 99.928000 8,738,703.60 0.00 .826 .836 13063DAC2 STATE OF CALIFORNIA 04/01/2021 2.6252.011 14,400,000.00 14,688,720.00 102.005000 14,688,720.00 0.00 2.384 2.504 010878AL0 ALAMEDA COUNTY G.O. 08/01/2020 2.5622.562 17,600,000.00 17,600,000.00 100.000000 17,600,000.00 0.00 1.776 1.838 76222RWT5 RHODE ISLAND ST & PROV PLANT 04/01/2020 2.7502.451 3,065,000.00 3,082,378.55 100.567000 3,082,378.55 0.00 1.447 1.504 76222RWS7 RHODE ISLAND ST & PROV PLANT 04/01/2019 5.0002.253 2,330,000.00 2,390,020.80 102.576000 2,390,020.80 0.00 .486 .501 76222RWU2 RHODE ISLAND ST & PROV PLANT 04/01/2021 2.7502.551 3,150,000.00 3,167,766.00 100.564000 3,167,766.00 0.00 2.376 2.504 13063DGA0 STATE OF CALIFORNIA 04/01/2021 2.8002.799 16,000,000.00 16,000,640.00 100.004000 16,000,640.00 0.00 2.372 2.504 13063DAC2 STATE OF CALIFORNIA 04/01/2021 2.6252.850 1,795,000.00 1,784,301.80 99.404000 1,784,301.80 0.00 2.373 2.504 13063DAB4 STATE OF CALIFORNIA 04/01/2019 1.5932.351 7,030,000.00 6,990,842.90 99.443000 6,990,842.90 0.00 .493 .501 13063DAD0 STATE OF CALIFORNIA 04/01/2022 2.3672.960 1,500,000.00 1,468,800.00 97.920000 1,468,800.00 0.00 3.292 3.504 544351MM8 CITY OF LOS ANGELES 09/01/2021 4.0002.919 8,915,000.00 9,200,993.20 103.208000 9,200,993.20 0.00 2.706 2.923 93974D5L8 WASHINGTON STATE 08/01/2019 2.6302.630 10,085,000.00 10,085,000.00 100.000000 10,085,000.00 0.00 .820 .836 2.0381.731 204,770,000.00 206,651,082.35 100.918632 206,651,082.35 0.00 1.114 1.161

3020: C O MMERCIAL PAPER 25214PEL3 DEXIA (GUARANTEE) 10/10/2018 2.1402.168 30,000,000.00 29,611,233.33 99.945000 29,983,500.00 372,266.67 .027 .027 25214PEY5 DEXIA (GUARANTEE) 11/28/2018 2.3202.358 30,000,000.00 29,510,866.67 99.645556 29,893,666.67 382,800.00 .158 .162 03785EKQ6 APPLE 10/24/2018 2.1102.137 45,000,000.00 44,430,300.00 99.859444 44,936,750.00 506,450.00 .064 .066 16677KL76 C HEVRO N 11/07/2018 2.2902.324 45,000,000.00 44,341,625.00 99.773889 44,898,250.00 556,625.00 .102 .104 89233HKA1 TOYOTA MOTOR CORP 10/10/2018 2.3502.379 25,000,000.00 24,691,562.50 99.945000 24,986,250.00 294,687.50 .027 .027 25214PFE8 DEXIA (GUARANTEE) 10/04/2018 2.2902.317 25,000,000.00 24,708,979.17 99.981667 24,995,416.67 286,437.50 .011 .011 16677KN41 C HEVRO N 01/04/2019 2.3502.392 60,000,000.00 58,950,333.33 99.387778 59,632,666.67 682,333.34 .257 .263 64105HN32 NESTLE 01/03/2019 2.2302.267 20,000,000.00 19,676,650.00 99.394222 19,878,844.44 202,194.44 .254 .260 89233HNE0 TOYOTA MOTOR CORP 01/14/2019 2.4902.537 20,000,000.00 19,627,883.33 99.323333 19,864,666.67 236,783.34 .283 .290 25214PG98 DEXIA(GUARANTEE) 01/18/2019 2.4702.515 15,000,000.00 14,729,329.17 99.297556 14,894,633.33 165,304.16 .294 .301 03785EKV5 APPLE 10/29/2018 2.2702.296 50,000,000.00 49,435,652.78 99.828889 49,914,444.44 478,791.66 .078 .079 03785ELS1 APPLE 11/26/2018 2.2802.306 45,000,000.00 44,501,250.00 99.657778 44,846,000.00 344,750.00 .153 .156 63763QKQ9 NATL SEC CLEARING CORP 10/24/2018 2.2002.217 40,000,000.00 39,689,555.56 99.859444 39,943,777.78 254,222.22 .064 .066 63763QNP8 NATL SEC CLEARING CORP 01/23/2019 2.4002.434 40,000,000.00 39,440,000.00 99.265333 39,706,133.33 266,133.33 .307 .315 63763QQT7 NATL SEC CLEARING CORP 03/27/2019 2.5002.547 40,000,000.00 39,255,555.56 98.824917 39,529,966.67 274,411.11 .475 .488 63763QL70 NATL SEC CLEARING CORP 11/07/2018 2.2502.268 35,000,000.00 34,728,750.00 99.773889 34,920,861.11 192,111.11 .102 .104 25214PJU8 DEXIA (GUARANTEE) 03/19/2019 2.5002.543 25,000,000.00 24,574,652.78 98.878028 24,719,506.94 144,854.16 .454 .466 89233HPS7 TOYOTA MOTOR CORP 02/26/2019 2.4602.498 25,000,000.00 24,619,041.67 99.017444 24,754,361.11 135,319.44 .398 .408 63763QSQ1 NATL SEC CLEARING CORP 05/24/2019 2.4502.496 50,000,000.00 49,084,652.78 98.328889 49,164,444.44 79,791.66 .630 .647 25214PL50 DEXIA (GUARANTEE) 01/22/2019 2.3202.342 40,000,000.00 39,626,222.22 99.271778 39,708,711.11 82,488.89 .305 .312 89233HQ49 TOYOTA MOTOR CORP 03/04/2019 2.4002.429 25,000,000.00 24,700,000.00 98.977611 24,744,402.78 44,402.78 .414 .425 89233HNW0 TOYOTA MOTOR CORP 01/30/2019 2.3802.400 13,000,000.00 12,890,850.56 99.196694 12,895,570.28 4,719.72 .326 .334 63763QTQ0 NATL SEC CLEARING CORP 06/24/2019 2.6102.662 35,000,000.00 34,314,875.00 97.990222 34,296,577.78 -18,297.22 .712 .732 2.3402.373 778,000,000.00 767,139,821.41 99.371388 773,109,402.22 5,969,580.81 .252 .259

3130: CORP-Fxd-S 30/ 360 594918BV5 MICROSOFT CORP 02/06/2020 1.8502.273 6,350,000.00 6,297,739.50 98.787000 6,272,974.50 -24,765.00 1.321 1.353 594918BV5 MICROSOFT CORP 02/06/2020 1.8502.277 6,000,000.00 5,951,100.00 98.787000 5,927,220.00 -23,880.00 1.321 1.353 594918BG8 MICROSOFT CORP 11/03/2020 2.0002.543 25,000,000.00 24,649,750.00 98.230000 24,557,500.00 -92,250.00 2.017 2.096 594918BV5 MICROSOFT CORP 02/06/2020 1.8502.354 3,000,000.00 2,971,440.00 98.787000 2,963,610.00 -7,830.00 1.321 1.353 037833CE8 APPLE 02/08/2019 1.5502.281 22,840,000.00 22,684,688.00 99.691000 22,769,424.40 84,736.40 .355 .359 594918BV5 MICROSOFT CORP 02/06/2020 1.8502.373 4,097,000.00 4,057,013.28 98.787000 4,047,303.39 -9,709.89 1.321 1.353 594918BV5 MICROSOFT CORP 02/06/2020 1.8502.388 8,000,000.00 7,920,160.00 98.787000 7,902,960.00 -17,200.00 1.320 1.353 594918BN3 MICROSOFT CORP 08/08/2019 1.1002.288 10,000,000.00 9,835,600.00 98.718000 9,871,800.00 36,200.00 .843 .855 594918BV5 MICROSOFT CORP 02/06/2020 1.8502.414 16,000,000.00 15,832,480.00 98.787000 15,805,920.00 -26,560.00 1.320 1.353 478160BS2 JOHNSON & JOHNSON 03/01/2021 1.6502.646 12,000,000.00 11,663,160.00 96.850000 11,622,000.00 -41,160.00 2.347 2.419 594918BV5 MICROSOFT CORP 02/06/2020 1.8502.469 10,000,000.00 9,887,000.00 98.787000 9,878,700.00 -8,300.00 1.320 1.353 478160BS2 JOHNSON & JOHNSON 03/01/2021 1.6502.625 12,969,000.00 12,617,410.41 96.850000 12,560,476.50 -56,933.91 2.347 2.419 594918BN3 MICROSOFT CORP 08/08/2019 1.1002.481 14,772,000.00 14,527,818.84 98.718000 14,582,622.96 54,804.12 .842 .855 594918BN3 MICROSOFT CORP 08/08/2019 1.1002.400 20,000,000.00 19,697,600.00 98.718000 19,743,600.00 46,000.00 .843 .855 594918AY0 MICROSOFT CORP 02/12/2020 1.8502.691 16,880,000.00 16,654,820.80 98.724000 16,664,611.20 9,790.40 1.335 1.370 594918BN3 MICROSOFT CORP 08/08/2019 1.1002.494 10,154,000.00 10,001,690.00 98.718000 10,023,825.72 22,135.72 .842 .855 037833CB4 APPLE 08/02/2019 1.1002.570 12,500,000.00 12,339,000.00 98.708000 12,338,500.00 -500.00 .826 .838 594918BN3 MICROSOFT CORP 08/08/2019 1.1002.568 4,982,000.00 4,916,735.80 98.718000 4,918,130.76 1,394.96 .842 .855 1.5602.467 215,544,000.00 212,505,206.63 98.565109 212,451,179.43 -54,027.20 1.254 1.286

4500: NCD-Mat A/ 360 96121T6K9 WESTPAC 11/02/2018 2.0802.080 35,000,000.00 35,000,000.00 100.000000 35,000,000.00 0.00 .089 .090 05252WNN9 AUSTRALIA NZ BK GRP 10/31/2018 2.1002.100 20,000,000.00 20,000,000.00 100.000000 20,000,000.00 0.00 .083 .085 89113XD43 TORONTO DOMINION 10/24/2018 2.3802.380 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 .064 .066 87019VFF9 SWEDBANK AB 10/03/2018 2.3302.330 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 .008 .008 65590AUP9 NORDEA BK 10/04/2018 2.3702.370 24,000,000.00 24,000,000.00 100.000000 24,000,000.00 0.00 .011 .011 89113XL77 TORONTO DOMINION 10/30/2018 2.3702.370 20,000,000.00 20,000,000.00 100.000000 20,000,000.00 0.00 .080 .082 65590AVR4 NORDEA BK 01/25/2019 2.4502.450 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 .313 .321 89113XM27 TORONTO DOMINION 01/25/2019 2.5102.510 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 .312 .321 87019VHE0 SWEDBANK AB 11/02/2018 2.3302.330 50,000,000.00 50,000,000.00 100.000000 50,000,000.00 0.00 .088 .090 65590AWG7 NORDEA BK 02/08/2019 2.4502.450 20,000,000.00 20,000,000.00 100.000000 20,000,000.00 0.00 .350 .359 87019VHX8 SWEDBANK AB 02/08/2019 2.4102.410 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 .350 .359 96121T4V7 WESTPAC K 10/19/2018 1.7102.320 25,000,000.00 24,931,278.36 99.725113 24,931,278.36 0.00 .051 .052 89113X5P5 TORONTO DOMINION 11/05/2018 2.3002.300 15,000,000.00 15,000,000.00 100.000000 15,000,000.00 0.00 .096 .099 06052TB82 BANK OF AMERICA NA 02/11/2019 2.4402.440 50,000,000.00 50,000,000.00 100.000000 50,000,000.00 0.00 .358 .367 89114MDZ7 TORONTO DOMINION 02/13/2019 2.4002.400 50,000,000.00 50,000,000.00 100.000000 50,000,000.00 0.00 .364 .373 78012UHD0 ROYAL BANK OF CANADA NY 06/07/2019 2.6602.660 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 .667 .685 90333VYZ7 US BANK NA 06/11/2019 2.5902.590 10,000,000.00 10,000,000.00 100.000000 10,000,000.00 0.00 .678 .696 78012UHS7 ROYAL BANK OF CANADA NY 01/31/2019 2.3702.370 20,000,000.00 20,000,000.00 100.000000 20,000,000.00 0.00 .329 .337 90333VZA1 US BANK NA 01/22/2019 2.3302.330 50,000,000.00 50,000,000.00 100.000000 50,000,000.00 0.00 .305 .312 78012UHZ1 ROYAL BANK OF CANADA NY 06/21/2019 2.7102.710 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 .704 .723 06052TC32 BANK OF AMERICA NA 05/01/2019 2.6202.620 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 .568 .584 90333VZC7 US BANK NA 05/31/2019 2.5802.580 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 .649 .666 2.3832.406 644,000,000.00 643,931,278.36 99.989329 643,931,278.36 0.00 .290 .297

C O UNTY O F RIVERSIDE TREASURER-TAX C O LLECTOR 66 12 Mo nth End Portfo lio Ho lding s

C USIP De sc riptio n Ma turity Coupon Yield Par Book Marke t Ma rke t Unrea lize d Mo dified Ye ars To Da te To Ma t Value Value Pric e Value Gain/ Loss Duration Ma turity

4540: NCD-A A/ 360 05252WNR0 AUSTRALIA NZ BK GRP 10/10/2018 2.1302.130 30,000,000.00 30,000,000.00 100.000000 30,000,000.00 0.00 .027 .027 65590AXW1 NORDEA BK 01/16/2019 2.4202.420 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 .289 .296 2.2622.262 55,000,000.00 55,000,000.00 100.000000 55,000,000.00 0.00 .146 .149

4541: NCD-VAR-M A/ 360 96121T6P8 WESTPAC BANK NY 11/06/2018 2.3202.320 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 .100 .101 2.3202.320 25,000,000.00 25,000,000.00 100.000000 25,000,000.00 0.00 .100 .101

Tota l Fund 1.9232.015 6,065,753,037.08 6,046,972,952.10 99.091038 6,010,617,673.04 -36,355,279.06 1.128 1.163

G rand Tota l 1.9232.015 6,065,753,037.08 6,046,972,952.10 99.091038 6,010,617,673.04 -36,355,279.06 1.128 1.163

CO UNTY O F RIVERSIDE TREASURER-TAX C O LLECTOR 67 13 The Mission Inn, Downtown Riverside. Digital Image. The Mission Inn. http://www.missioninn.com/about-en.html.

COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR 68 COUNTY OF RIVERSIDE TREASURER-TAX COLLECTOR CAPITAL MARKETS

COUNTY ADMINISTRATIVE CENTER 4080 LEMON STREET, 4TH FLOOR, RIVERSIDE, CA 92502-2205

WWW.COUNTYTREASURER.ORG

69 AGENDA ITEM 8

BLANK RIVERSIDE COUNTY TRANSPORTATION COMMISSION

DATE: December 12, 2018 TO: Budget and Implementation Committee FROM: Theresia Trevino, Chief Financial Officer THROUGH: John Standiford, Deputy Executive Director SUBJECT: Annual Investment Policy Review

STAFF RECOMMENDATION:

This item is for the Committee to:

BACKGROUND INFORMATION:

Section XIV of the Investment Policy requires an annual investment policy review and specifically states that the “Chief Financial Officer shall annually render to the Board a statement of investment policy, which the Board must consider at a public meeting. Any changes to the policy shall also be considered by the Board at a public meeting.”

Staff reviewed the Investment Policy approved by the Commission in December 2017, considered changes to the California Government Code as of September 2018, and consulted with the Commission’s investment managers as well as the County Treasurer’s Office in order to determine an appropriate level of changes primarily affecting the Commission’s operating investment portfolio. Accordingly, staff recommends the following changes to the Commission’s investment policy:

• Add supranational obligations as an eligible investment with specified diversification, purchase restrictions, maturity, and credit quality criteria; • Change in minimum credit quality for municipal bonds and U.S. corporate debt from “Aa3/AA-/ or AA-“ to “A1/A+/or A+”; • Change maximum percentage of holdings in U.S. corporate debt (from 25 percent to 30 percent); • Change in maximum maturity of negotiable certificates of deposit from 180 days to one year; and • Change in reference from “surplus funds” to “Commission’s funds”.

Agenda Item 8 70 Staff believes that these recommendations continue to adhere to the Commission’s investment objectives, in priority order, of safety, liquidity, and return on investment.

Attachments: 1) Resolution No. 18-018 2) Investment Policy (draft)

Agenda Item 8 71 ATTACHMENT 1

RESOLUTION NO. 18-018

RESOLUTION OF THE RIVERSIDE COUNTY TRANSPORTATION COMMISSION REGARDING THE REVISED INVESTMENT POLICY

WHEREAS, the Riverside County Transportation Commission (the “Commission”) currently retains the authority to add, delete or otherwise modify the Commission’s policies and procedures. NOW, THEREFORE, the Riverside County Transportation Commission does hereby resolve as follows: Section 1. The Riverside County Transportation Commission hereby adopts the Investment Policy, as revised on December 12, 2018, and attached as Exhibit A.

APPROVED AND ADOPTED this 12th day of December, 2018.

______Dana W. Reed, Chair Riverside County Transportation Commission

ATTEST:

______Lisa Mobley Clerk of the Board

72 BLANK ATTACHMENT 2

INVESTMENT POLICY

I. Introduction

The purpose of this document is to identify policies and procedures that enhance opportunities for a prudent investment program and to organize and formalize investment-related activities.

II. Scope

It is intended that this Policy cover all funds (except retirement funds) and investment activities under the direction of the Commission. Investment activities may be classified between operating and bond/debt portfolios.

III. Delegation of Authority

Pursuant to the Commission’s Administrative Code, the Board’s management responsibility for the investment program is hereby delegated for a one-year period to the Executive Director who shall monitor and review all investments for consistency with this investment policy. Subject to review, the Board may renew the delegation of authority pursuant to this section each year. The Executive Director may delegate these duties to his designee (“Chief Financial Officer”). The Commission may delegate its investment decision making and execution authority to an investment advisor. The advisor shall follow this Policy and such other written instructions as are provided.

IV. Prudence

All persons authorized to make investment decisions on behalf of the Commission are subject to the prudent investor standard. Investments shall be made with care, skill, prudence and diligence under circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the Commission that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the Commission.

Authorized individuals acting in accordance with this Policy and written procedures and exercising due diligence shall be relieved of personal responsibility for an individual security’s credit risk or market price changes, provided deviations from expectations are reported in a timely fashion.

Revised December 1312, 20172018

V. Objective

The Commission’s primary investment objectives, in priority order, shall be:

1. Safety. Safety of principal is the foremost objective of the investment program. Investments of the Commission shall be undertaken in a manner that seeks to ensure preservation of capital in the portfolio.

2. Liquidity. The investment portfolio of the Commission will remain sufficiently liquid to enable the Commission to meet its cash flow requirements.

3. Return on Investment. The investment portfolio of the Commission shall be designed with the objective of maximizing return on its investments, but only after ensuring safety and liquidity.

The Commission may from time to time sell securities that it owns in order to better reposition its portfolio assets in accordance with updated cash flow schedules, yield opportunities existing between market sectors, or simply market timing.

VI. Investments

California Government Code Section 53601 governs the investments permitted for purchase by the Commission. Within the investments permitted by Code, the Commission seeks to further restrict eligible investments to the investments listed in Section VI.1 below. Percentage limitations, where indicated, apply at the time of purchase. Percentage holdings with any one non-U.S. Government issuer or non-Federal Agency issuer are further restricted to a maximum of 10% (direct and indirect commitments), except as otherwise noted. Rating requirements where indicated, apply at the time of purchase. In the event a security held by the Commission is subject to a rating change that brings it below the minimum specified rating requirement, the Chief Financial Officer shall be authorized to act immediately and to notify the Board of any actions taken in regards to the security. The course of action to be followed will then be decided on a case-by-case basis, considering such factors as the reason for the rate drop, prognosis for recovery or further rate drops, and the market price of the security.

1. Eligible Investments

A. U.S. Government Issues. United States Treasury notes, bonds, bills, or certificates of indebtedness, or those for which the faith and credit of the United States are pledged for the payment of principal and interest.

Revised December 1312, 20172018

74 B. Federal Agency Securities. Federal agency or United States government-sponsored enterprise obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies or United States government-sponsored enterprises.

C. Supranational Obligations. Obligations issued, or unconditionally guaranteed, by the following supranational institutions:

1. International Bank for Reconstruction and Development; and 2. International Finance Corporation.

Such securities must have a maximum maturity of four (4) years and ratings from at least one Nationally Recognized Statistical Rating Organization (NRSRO) as follows: at least “Aa/AA/or AA” which denotes “Aa2” by Moody’s Investors Service (Moody’s), or “AA” by S&P Global Ratings (S&P), or “AA” by Fitch Ratings (Fitch); or as otherwise approved by the Commission. Investments in supranational obligations are limited to a maximum of 20% of Commission funds with no more than 10% of funds invested in any one supranational institution.

C.D. Municipal Bonds. Registered treasury notes or bonds of any of the other 49 United States, in addition to California, payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by a state or by a department, board, agency or authority of any of the other 49 United States, in addition to California. Such securities must have a maximum maturity of five (5) years and ratings from at least one Nationally Recognized Statistical Rating Organization (NRSRO) as follows: at least “Aa3/AA-/or AA-A1/A+/or A+”“ which denotes “Aa3” by Moody’s Investors Service (Moody’s), or “AA-" by Standard & Poor’s (S&P), or “AA-" by Fitch Ratings (Fitch); or as otherwise approved by the Commission.

Registered general obligation treasury notes or bonds of any of the 50 United States. Such securities must have a maximum maturity of five (5) years and ratings from at least one NRSRO as follows: at least “Aa3/AA-/or AA-A1/A+/or A+”“ or as otherwise approved by the Commission.

Taxable or tax-exempt bonds, notes, warrants, or other evidences of indebtedness of any local agency within the State of California with a maximum maturity of five (5) years and ratings from at least one NRSRO as follows: at least “Aa3/AA-/or AA-A1/A+/or A+”“ (the

Revised December 1312, 20172018

75 minimum rating shall apply to the local agency, irrespective of any credit enhancement), including bonds, notes, warrants, or other evidences of indebtedness payable solely out of the revenues from a revenue-producing property owned, controlled, or operated by either the local agency, a department, board, agency, or authority of the local agency, or of any local agency within this state.

Investments in municipal bonds are further limited to 25% of surplus the Commission’s funds.

D.E. Tri-Party Repurchase Agreements. Tri-party repurchase agreements are to be used solely as short-term investments not to exceed 30 days. The Commission may enter into tri-party repurchase agreements with primary government securities dealers rated “A” or better by two NRSROs. Counterparties should also have (i) a short-term credit rating of at least P-1/A-1/ or F-1; (ii) minimum assets and capital size of $25 billion in assets and $350 million in capital; (iii) five years of acceptable audited financial results; and (iv) a strong reputation among market participants.

The following collateral restrictions will be observed: Only U.S. Treasury securities or Federal Agency securities, as described in V.1 A and B, will be acceptable collateral. All securities underlying tri- party repurchase agreements must be delivered to the Commission's custodian or fiscal agent bank versus payment or be handled under a properly executed tri-party repurchase agreement. The total market value of all collateral for each tri-party repurchase agreement must equal or exceed 102% of the total dollar value of the money invested by the Commission for the term of the investment. For any tri-party repurchase agreement with a term of more than one day, the value of the underlying securities must be reviewed on an on-going basis according to market conditions. Market value must be calculated each time there is a substitution of collateral.

The Commission or its trustee shall have a perfected first security interest under the Uniform Commercial Code in all securities subject to tri-party repurchase agreement. The Commission shall have properly executed a PSA agreement with each counterparty with which it enters into tri-party repurchase agreements.

E.F. U.S. Corporate Debt. Medium-term notes, defined as all corporate and depository institution securities with a maximum remaining maturity of five (5) years or less, issued by corporations organized and operating within the United States or depository institutions licensed by the United States or any state and operating within the United States. Eligible investment shall be rated at least “Aa3/AA-

Revised December 1312, 20172018

76 /or AA-” or better by at least one NRSRO. Investments in U.S. Corporate Debt are further limited to 2530% of surplus the Commission’s funds.

F.G. Commercial Paper. Commercial paper rated in the highest category by one or more nationally recognized statistical rating organization (NRSRO). The entity that issues the commercial paper shall meet all of the following conditions in either paragraph (1) or paragraph (2):

(1) The entity meets the following criteria: (A) Is organized and operating in the United States as a general corporation. (B) Has total assets in excess of five hundred million dollars ($500,000,000). (C) Has debt other than commercial paper, if any, that is rated “A” or higher by at least one NRSRO. (2) The entity meets the following criteria: (A) Is organized within the United States as a special purpose corporation, trust, or limited liability company. (B) Has program-wide credit enhancements, including, but not limited to, over collateralization, letters of credit, or surety bond. (C) Has commercial paper that is rated at least “P-1/A-1/or F-1”, or the equivalent, by at least one NRSRO.

Purchases of eligible commercial paper may not exceed 270 days maturity nor represent more than 10% of the outstanding paper of an issuing corporation. Investments in commercial paper are limited to a maximum of 25% of surplus the Commission’s funds.

G.H. Banker’s Acceptances. Banker's acceptances issued by domestic or foreign banks, which are eligible for purchase by the Federal Reserve System. Purchases of banker’s acceptances may not exceed 180 days maturity. Eligible banker’s acceptances are restricted to issuing financial institutions with short-term paper rated in the highest category by one or more nationally recognized rating service. Investments in banker’s acceptances are further limited to 40% of surplus the Commission’s funds with no more than 30% of surplus the Commission’s funds invested in the banker’s acceptances of any one commercial bank.

H.I. Money Market Mutual Funds. Shares of beneficial interest issued by diversified management companies that are money market funds registered with the Securities and Exchange Commission under the Investment Company Act of 1940 (15 U.S.C. Sec. 80a-1, et seq.) and that invest solely in U.S. treasuries, obligations of the U.S. Treasury, and repurchase agreements relating to such treasury obligations.

Revised December 1312, 20172018

77 The Commission may invest in shares of beneficial interest issued by accompany shall have met either of the following criteria: (1) Attained the highest ranking or the highest letter and numerical rating provided by not less than two nationally recognized rating services. (2) Retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years’ experience managing money market mutual funds with assets under management in excess of five hundred million dollars ($500,000,000).

The purchase price of shares of beneficial interest purchased pursuant to this subdivision shall not include any commission that the companies may charge. Investments in Money Market Mutual Funds are further limited to 20% of surplus the Commission’s funds.

I.J. Riverside County Pooled Investment Fund (“RCPIF”). The Commission may invest in the Riverside County Pooled Investment Fund. As on-going due diligence, the Chief Financial Officer shall obtain the information listed below:

• A description of eligible investment securities and a written statement of investment policy. • A description of the interest calculation, the frequency of interest distributions, and the treatment of gains and losses in the portfolio. • A description of how often the securities are priced, how the securities are safeguarded, and the audit arrangements. • A description of who may invest in the program, how often they may invest, and what size deposits and withdrawals are allowed. • A schedule for receiving statements and portfolio listings. • A fee schedule, and when and how fees are assessed. • The composition of the investment fund for each reporting period.

J.K. State of California Local Agency Investment Fund (“LAIF”). The Commission may invest in LAIF. As on-going due diligence, the Chief Financial Officer shall obtain the information listed below:

Revised December 1312, 20172018

78 • A description of who may invest in the program, how often they may invest, and what size deposits and withdrawals are allowed. • A schedule for receiving statements and portfolio listings. • A fee schedule, and when and how fees are assessed. • The composition of the investment fund for each reporting period.

K.L. Certificates of Deposit. Negotiable Certificates of Deposit (NCD’s): NCDs are money market instruments issued by a bank. They specify that a sum of money has been deposited, payable with interest to the bearer of the certificates on a certain date. NCDs are issued by nationally or state chartered bank or state or federal savings and loan association. All purchases must be from institutions rated the highest letter and number rating (e.g., P-1/A-1/or F-1) as provided for by at least one NRSRO, as designated by the U.S. Securities and Exchange Commission. The maturity of NCDs shall not exceed 180 daysone (1) year to maturity, and purchases of NCDs shall not exceed 30% of the Commission’s investment portfolio. NCDs shall be evaluated in terms of the credit worthiness of the issuing institution, as these deposits are uninsured and uncollateralized promissory notes.

FDIC-insured Certificates of Deposit: The principal amount of the investment must be federally insured through the Federal Deposit Insurance Corporation (FDIC). No more than the prevailing FDIC insured coverage amount may be invested with any one deposit. Certificates of Deposit placed through the Certificate of Deposit Account Registry Service (CDARS) shall be considered fully insured, assuming that the total amount invested with any participating bank is limited to the prevailing FDIC insured coverage amount. Interest on the principal must be paid to the Commission at least annually. The placement of Certificates of Deposit with local banks that qualify in accordance with Government Code section 53601(h) is encouraged. The Commission, at its discretion, may invest a portion of its surplus funds in certificates of deposit at a commercial bank, savings bank, savings and loan association, or credit union using a private sector entity to assist in the placement of such certificates, provided that it complies with Government Code Section 53601.8. Such investments may not exceed in total 20% of the Commission’s funds invested pursuant to Government Code Sections 53601.8, 53635.8 and 53601, and shall have a maximum maturity of one (1) year from the date of the deposit.

Collateralized Certificates of Deposit: For investments exceeding $100,000, there will be a waiver of collateral for the first $100,000 deposited and protected by FDIC insurance. The remainder of the deposit shall be fully collateralized by U.S. Treasury and Federal

Revised December 1312, 20172018

79 Agency securities having maturities less than five years. The District must receive written confirmation that these securities have been pledged in repayment of the time deposit. The securities pledged as collateral must have a current market value greater than the dollar amount of the deposit in keeping with the ratio requirements specified in Section 53652 of the Government Code. Additionally, a statement of the collateral shall be provided to the Commission on a monthly basis. Such investments may not exceed in total 15% of the Commission’s funds invested pursuant to Government Code Sections 53601.8, 53635.8 and 53601, and shall have a maximum maturity of one (1) year from the date of the deposit.

L.M. Time Deposits. Federal Deposit Insurance Corporation insured money market savings accounts or time deposits which are deposited through depository institutions which are participants of the Money Market Insured Deposit Account Service (“MMIDAS”).

M.N. Mortgage and Asset-backed Securities. Any mortgage pass- through security, collateralized mortgage obligation, mortgage- backed or other pay-through bond, equipment lease-backed certificate, consumer receivable-backed bond of a maximum maturity of five (5) years.

Securities eligible for investment under this subdivision shall be issued by an issuer and rated at least “A3/A-/or A-”“ for the issuer’s debt as provided by at least one NRSRO and rated in the rating category of “AAA” or its equivalent (excluding U.S. Government/Agency-backed structured products which will be permitted with their prevailing ratings even if those ratings are below the rating category of “AAA”) by at least one NRSRO.

Purchase of these securities may not exceed 10% of the Commission’s operating investment portfolio.

2. Eligible Investments for Bond Proceeds

Bond proceeds shall be invested in securities permitted by the applicable bond documents. If the bond documents are silent as to permitted investments, bond proceeds will be invested in securities permitted by this Policy.

With respect to maximum maturities, the Policy authorizes investing bond reserve fund proceeds beyond the five (5) years if prudent in the opinion of the Chief Financial Officer.

3. Ineligible Investments

Revised December 1312, 20172018

As provided in California Government Code Section 53601.6, the Commission shall not invest any funds in inverse floaters, range notes, mortgage derived interest-only strips or in any security that could result in zero interest accrual if held to maturity.

The purchase of any security not listed in Section VI.1 above, but permitted by the California Government Code, is prohibited unless the Board approves the investment either specifically or as a part of an investment program approved by the Board.

VII. Maximum Maturities

Maturities of investments will be selected to provide necessary liquidity, minimize interest rate risk, and maximize earnings. Current and expected yield curve analysis will be monitored and the portfolio will be invested accordingly. Because of inherent difficulties in accurately forecasting cash flow requirements, a portion of the portfolio should be continuously invested in readily available funds.

Where this Policy does not specify a maximum remaining maturity at the time of the investment, no investment shall be made in any security, other than a security underlying a repurchase or reverse repurchase agreement authorized by this section, that at the time of the investment has a term remaining to maturity in excess of five (5) years.

VIII. Performance Standards

The Chief Financial Officer shall continually monitor and evaluate the portfolio’s performance.

IX. Reporting

The Chief Financial Officer shall prepare and provide to the Board and the Executive Director, within 60 days following the end of the quarter, a portfolio report, which includes the following information:

• Type of investment • Name of issuer • Date of maturity • Date of purchase • Par value • Original purchase cost • Call date (if applicable) • Current market value of securities • Unrealized market value gain/loss

Revised December 1312, 20172018

81 • Coupon rate, if applicable • Yield to maturity • Credit quality, as determined by one or more NRSROs, of each investment • Average duration of portfolio • Listing of all investment transactions during the quarter • A statement that the portfolio complies with the investment policy, or the manner in which the portfolio is not in compliance • A statement denoting the ability of the Commission to meet its liquidity requirements for the next six months, or provide an explanation as to why sufficient money shall, or may not be, available.

X. Investment Procedures

The Chief Financial Officer, as the Board’s designee, is responsible for ensuring compliance with the Commission’s investment policies and establishing written procedures and internal controls for the operation of the investment program. No person may engage in investment transactions except as provided under the terms of this Policy and the written procedures established by the Chief Financial Officer. The written procedures should address: delegation of authority to subordinate staff members, control of collusion, separation of transaction authority from accounting and record keeping, written confirmations of transactions, reconciliation of custody statements, and wire transfer procedures and agreements. An independent analysis by an external auditor shall be conducted annually to review internal control, account activity, and compliance with policies and procedures.

XI. Authorized Broker Dealers and Financial Institutions

The Chief Financial Officer shall maintain a list of authorized broker/dealers and financial institutions which are approved for investment purposes. It shall be the Commission’s policy to purchase securities only from those authorized institutions and firms. Separate lists shall be maintained for broker/dealers and financial institutions approved for repurchase agreements and those approved for the purchase of other securities. If an investment advisor is used, they may use their own list of approved broker/dealers and financial institutions for investment purposes.

To be eligible, a firm must meet the following minimum criteria: (i) an institution licensed by the state as a broker-dealer, or from a member of a federally regulated securities exchange, from a national or state-chartered bank, from a federal or state association or from a brokerage firm designated as a primary government dealer by the Federal Reserve bank; and (ii) all broker/dealer firms and individuals must be properly registered with the NASD and/or SEC to transact business in the relevant geographic locations and product sectors. In addition, counterparties for Repurchase Agreements shall be limited to primary government securities dealers rated “A” or better by two NRSROs. Counterparties shall also have (i) a short-term credit rating of at least P-1/A-1/or F-1; (ii) minimum assets and capital size of $25

Revised December 1312, 20172018

82 billion in assets and $350 million in capital; (iii) five years of acceptable audited financial results; and (iv) a strong reputation among market participants.

The Chief Financial Officer shall select broker/dealers and other financial institutions on the basis of the firm’s expertise and credit worthiness. The Commission shall annually send a copy of the current investment policy to all dealers approved to do business with the Commission. Each broker/dealer or financial institution that has been authorized by the Commission shall be required to submit and annually update a Broker/Dealer Questionnaire which includes the firm’s most recent financial statements. The Chief Financial Officer shall maintain a file for each firm approved for investment purposes, which includes the most recent Broker/Dealer Questionnaire.

XII. Safekeeping and Custody

To protect the Commission’s assets, all securities owned by the Commission shall be held in safekeeping in the Commission’s name by a third party bank trust department, acting as agent for the Commission under the terms of a custody agreement executed by the bank and the Commission. All securities will be received and delivered using standard delivery versus payment (DVP) procedures; the Commission's safekeeping agent will only release payment for a security after the security has been properly delivered.

Physical delivery securities shall be avoided whenever possible, as book entry securities are much easier to transfer and account for since actual delivery of a document never takes place. In addition, delivered securities must be properly safeguarded against loss or destruction. The potential for fraud and loss increases with physically delivered securities.

XIII. Ethics and Conflicts of Interest

The Commission adopts the following policy concerning conflicts of interest:

1. Officers and employees involved in the investment process shall refrain from personal business activity that could conflict with proper execution of the investment program or which could impair their ability to make impartial investment decisions.

2. Officers and employees involved in the investment process shall disclose any material financial interest in any financial institution that conducts business with the Commission, and they shall further disclose any large personal financial/investment positions that could be related to the performance of the Commission’s portfolio.

3. Officers shall refrain from undertaking personal investment transactions with the same individual with whom business is conducted on behalf of the

Revised December 1312, 20172018

83 Commission.

XIV. Investment Policy Review

The Chief Financial Officer shall annually render to the Board a statement of investment policy, which the Board must consider at a public meeting. Any changes to the policy shall also be considered by the Board at a public meeting.

Revised December 1312, 20172018

84 AGENDA ITEM 9 BLANK RIVERSIDE COUNTY TRANSPORTATION COMMISSION

DATE: November 26, 2018 TO: Budget and Implementation Committee FROM: Josefina Clemente, Transit Manager THROUGH: Lorelle Moe-Luna, Acting Multimodal Services Director Amendment to SunLine Transit Agency’s Fiscal Year 2018/19 Short Range SUBJECT: Transit Plan

STAFF RECOMMENDATION:

This item is for the Committee to:

BACKGROUND INFORMATION:

In June 2018, SunLine’s Board of Directors adopted the FY 2018/19 operating and capital budget of $44,954,614 based on the agency’s SRTP. Typically, the public operators’ SRTPs for operating and capital needs are based on estimated amounts available, including projected revenues and

Agenda Item 9

85 reserve balances. Subsequently, SunLine staff determined that modifications to the SRTP were necessary; the SunLine Board of Directors approved these modifications at its October 24, 2018 meeting.

Operating Assistance

Table 1a of Attachment 1 outlines the original funding structure for operating assistance while Table 1b shows the proposed modified funding distribution. SunLine requests approval to modify its operating funding as follows:

• SunLine received FTA Section 5309 Federal Fiscal Year 2014/15 pass-through funds of $190,822 from the CTE to develop training programs for the West Coast Center of Excellence in Zero Emissions Technologies; • Beginning in mid-January 2019, SunLine will operate the city of Palm Springs Buzz Service on a 20-minute frequency on Fridays, Saturdays, and Sundays. An increase in other local revenues provided by the city of Palm Springs will subsidize the operating cost of $237,667 for the Buzz Service; and • Based on an analysis of the current number of employees per square mile of coverage for the Coachella Valley, SunLine staff determined that additional supervision will provide quicker response times to urgent situations and ensure more available personnel during the entire span of service. An increase in LTF operating funds of $324,924 will cover personnel expenses for the proposed additional four field supervisors to the Operations Department, two project manager assistants to the Performance Department, and two safety officers to the Safety Department.

The combined increase in the operating funding plan for FY 2018/19 is $753,413, resulting in an increase of the original operating funding plan of $38,900,991 to $39,654,404.

Capital Assistance

Table 2a of Attachment 2 shows the original capital requests based on the currently approved SRTP capital funding plan and Table 2b outlines the modified capital funding plan. SunLine’s modification requests are as follows:

• An additional $2,982,000 in LTF capital funds will cover SunLine’s capital expenses for the improvement of the Hydrogen Station, Thousand Palms Facilities, Indio Facility, and Phase 3 for the Operations Building and the partial cost for five trolleys for the Buzz Service; • SunLine received a grant award of $178,239 from FTA Section 5339 FFY 2017/18 funds for three fixed route buses, which were initially funded with STA and federal Section 5307 funds. As a result, FTA Section 5307 funds of $109,984 were available and reprogrammed to the transit enhancements and information technology projects that also were originally funded with STA funds. The net impact is an $178,239 increase in FTA Section 5339 funds and corresponding decrease in STA funds as well as no change in FTA Section 5307 funds; and

Agenda Item 9

86 • SunLine reviewed its unexpended STA capital allocations and determined that $418,000 in STA unexpended FY 2014/15 funds from the operators’ breakroom project can be reprogrammed to partially fund the five trolleys for the Buzz Service.

Overall, these modifications increase SunLine’s capital funding in the FY 2018/19 SRTP by $3,400,000.

Financial Impact

Commission staff reviewed SunLine’s revised plans and recommends approval of its operating and capital funding modifications and related amendment to the FY 2018/19 SRTP. Since the FTA Sections 5309 and 5339 funds are directly allocated to SunLine, no Commission budget amendment is required to support these requests. The financial impact to the Commission is the allocation of LTF and STA funds. A budget adjustment to increase LTF operating expenditures by $324,924 and LTF capital expenditures by $2,982,000 is required. Additionally, a budget adjustment is required to decrease STA capital expenditures by $178,239. SunLine’s operating cost increase of $753,413 will impact the agency’s farebox recovery ratio slightly; however, SunLine’s farebox recovery ratio remains compliant with the established farebox ratio target of 17.5 percent for FY 2018/19.

Upon Commission approval, SunLine will initiate an update to the FY 2018 Federal Transportation Improvement Program to reflect the changes in FTA Sections 5339 and 5309 funding.

Financial Information

In Fiscal Year Budget: No Year: FY 2018/19 Amount: $3,128,685 (net) Coachella Valley LTF and STA funds; Source of Funds: Budget Adjustment: Yes FTA Sections 5309 and 5339 funds 002211 86101 601 62 86101 $ 324,924 Transit Operating GLA No.: 002211 86102 601 62 86102 $2,982,000 Transit Capital 002202 86102 241 62 86102 ($178,239) Transit Capital Fiscal Procedures Approved: Date: 11/15/2018

Attachments: 1) SunLine FY 2018/19 Operating Assistance by Funding Source 2) SunLine FY 2018/19 Capital Assistance by Funding Source

Agenda Item 9

87 BLANK ATTACHMENT 1

SUNLINE TRANSIT AGENCY FY 2018/19 SRTP - TABLE 4 AMENDMENT # 1 OPERATING ASSISTANCE BY FUNDING SOURCE

Table 1a: Currently Approved Operating Funding Plan Carryover Section 5307 Section 5307 Total Total Without Indio/Cath Indio/Cathedra Carryover Carryover STA C/Palm l C/Palm Section Section Section LCTOP Section CMAQ State of Other Project Description Total Amount Funds LTF (New) Measure A Springs(New) Springs 5310 5311 5311 (f) LCTOP Carryover 5309 CMAQ Carryover Good Repair Revenue Fare Box (a) (b) (a-b)

Operating Assistance 36,201,539 935,963 35,265,576 20,621,864 6,000,000 3,437,436 935,963 352,874 250,000 250,000 1,709,574 2,643,828

Taxi Voucher 232,000 0 232,000 58,000 58,000 116,000

Commuter Link 220 296,170 0 296,170 91,449 204,721

Unplanned Maintenance Software 26,000 0 26,000 26,000

Vanpool Program 357,315 318,010 39,305 39,305 318,010

Line 80, 81, 95 400,467 400,467 0 400,467

Preventative Maintenance Revenue Veh 500,000 0 500,000 500,000

Quick Bus 490,000 0 490,000 53,900 436,100

SunRide Ride Share 397,500 0 397,500 39,392 358,108

Total: Operating$ 38,900,991 $ 1,654,440 $ 37,246,551 $ 20,903,910 $ - $ 6,000,000 $ 3,437,436 $ 935,963 $ 58,000 $ 352,874 $ 204,721 $ 250,000 $ 400,467 $ 250,000 $ 794,208 $ 318,010 $ 500,000 $ 1,851,574 $ 2,643,828

Table 1b: Modified Operating Funding Plan

Operating Assistance 36,526,463 935,963 35,590,500 20,946,788 6,000,000 3,437,436 935,963 352,874 250,000 250,000 1,709,574 2,643,828

Taxi Voucher 232,000 0 232,000 58,000 58,000 116,000

Commuter Link 220 296,170 0 296,170 91,449 204,721

Unplanned Maintenance Software 26,000 26,000 26,000

Vanpool Program 357,315 318,010 39,305 39,305 318,010

Line 80, 81, 95 400,467 400,467 0 400,467

Preventative Maintenance Revenue Veh 500,000 0 500,000 500,000

Quick Bus 490,000 0 490,000 53,900 436,100 SunRide Rideshare & Desert Recreation District Rec Route 397,500 0 397,500 39,392 358,108

The Buzz Service 237,667 237,667 237,667

Center of Excellence 190,822 190,822 190,822

Total: Operating$ 39,654,404 $ 1,654,440 $ 37,999,964 $ 21,228,834 $ - $ 6,000,000 $ 3,437,436 $ 935,963 $ 58,000 $ 352,874 $ 204,721 $ 250,000 $ 400,467 $ 440,822 $ 794,208 $ 318,010 $ 500,000 $ 2,089,241 $ 2,643,828

Net Change between Currently Approved and Modified Operating Plan $ 753,413 $ - $ 753,413 $ 324,924 $ - $ - $ - $ - $ - $ - $ - $ - $ - $ 190,822 $ - $ - $ - $ 237,667 $ -

11/14/2018 FY 2018/19 SRTP Folder 88 BLANK ATTACHMENT 2

SUNLINE TRANSIT AGENCY FY 2018/19 SRTP - TABLE 4 AMENDMENT # 1 CAPITAL ASSISTANCE BY FUNDING SOURCE

Table 1a: Currently Approved Capital Funding Plan Section 5307 Indio- Total Cathedral City- Carryover Total Without Palm State of Good

Project Description # Project Total Amount Carryover Funds LTF STA (New) Carryover STA Springs(New) Section 5339 Repair (a) (b) (a-b)

Replacement Fixed Route Buses (3) 19-1 2,100,000 0 2,100,000 488,255 1,145,812 465,933 Transit Enhancements 19-2 200,000 0 200,000 200,000 Information Technology (IT) Projects 19-3 350,000 0 350,000 123,863 226,137 Expansion of Inventory Warehouse 19-4 200,000 0 200,000 200,000 Radio System Replacement 19-5 1,000,000 0 1,000,000 1,000,000 Replacement of Paratransit Vans (10) 19-6 1,350,000 0 1,350,000 1,350,000 Roof Repair Division 1 and Division 2 19-7 125,000 0 125,000 125,000 Maintenance Tools and Equipment 19-8 50,000 0 50,000 50,000 Install Electric Charger for Buses in Division 2 19-9 78,623 0 78,623 78,623 Bus Simulator 19-10 600,000 0 600,000 600,000

Total: Capital$ 6,053,623 $ - $ 6,053,623 $ - $ 3,962,118 $ 1,371,949 $ 465,933 $ 253,623

Table 1b: Modified Capital Funding Plan

Replacement Fixed Route Buses (3) 19-1 2,100,000 0 2,100,000 420,000 1,035,828 644,172 Transit Enhancements 19-2 200,000 0 200,000 143,879 56,121 Information Technology (IT) Projects 19-3 350,000 0 350,000 70,000 280,000 Expansion of Inventory Warehouse 19-4 200,000 0 200,000 200,000 Radio System Replacement 19-5 1,000,000 0 1,000,000 1,000,000 Replacement of Paratransit Vans (10) 19-6 1,350,000 0 1,350,000 1,350,000 Roof Repair Division 1 and Division 2 19-7 125,000 0 125,000 125,000 Maintenance Tools and Equipment 19-8 50,000 0 50,000 50,000 Install Electric Charger for Buses in Division 2 19-9 78,623 0 78,623 78,623 Bus Simulator (2) 19-10 600,000 0 600,000 600,000 Hydrogen Station Program Improvements 19-11 1,000,000 0 1,000,000 1,000,000 Thousand Palms Facilities Improvements 19-12 500,000 0 500,000 500,000 Indio Facility Improvements 19-13 1,000,000 0 1,000,000 1,000,000 Operations Building Third Phase 19-14 450,000 0 450,000 450,000 Trolleys for Buzz Service (5) 19-15 450,000 418,000 32,000 32,000 418,000

Total: Capital$ 9,453,623 $ 418,000 $ 9,035,623 $ 2,982,000 $ 3,783,879 $ 418,000 $ 1,371,949 $ 644,172 $ 253,623

Net Change between Currently Approved and Modified Capital Plan $ 3,400,000 $ 418,000 $ 2,982,000 $ 2,982,000 $ (178,239) $ 418,000 $ - $ 178,239 $ -

11/14/2018

89 BLANK AGENDA ITEM 10 BLANK RIVERSIDE COUNTY TRANSPORTATION COMMISSION

DATE: November 26, 2018 TO: Budget and Implementation Committee Monica Morales, Management Analyst FROM: Josefina Clemente, Transit Manager THROUGH: Lorelle Moe-Luna, Acting Multimodal Services Director Agreement for Audit Services for the Transportation Development Act SUBJECT: Triennial Audit

STAFF RECOMMENDATION:

This item is for the Committee to:

BACKGROUND INFORMATION:

In accordance with California Public Utilities Code Section 99246, the Commission is required every three years (triennial) to arrange for performance audits of its activities as well as the activities of the transit operators to which it allocates TDA funds. The Commission must send a certificate of completion to the California Department of Transportation (Caltrans) in order for the Commission to receive and allocate TDA funds for Riverside County.

The audits are required to evaluate the efficiency, effectiveness, and economy of the Commission and the seven public operators: cities of Banning, Beaumont, Corona, and Riverside; Riverside Transit Agency; SunLine Transit Agency; and Palo Verde Valley Transit Agency. The first triennial audit cycle will cover Fiscal Years 2015/16, 2016/17, and 2017/18, and must be conducted in compliance with relevant sections of the TDA. The second audit cycle, upon exercising the agreement’s option period, will cover FYs 2018/19, 2019/20, and 2020/21.

Procurement Process

Staff determined the weighted factor method of source selection to be the most appropriate for this procurement, as it allows the Commission to identify the most advantageous proposal with price and other factors considered. Non-price factors include elements such as qualifications of

Agenda Item 10

90 firm, qualifications of personnel, understanding and approach, and the ability to respond to the requirements set forth under the terms of the request for proposals (RFP) No. 19-62-009-00.

RFP No. 19-62-009-00 was released on September 13, 2018. A public notice was advertised in the Press Enterprise, and the RFP was posted on the Commission’s PlanetBids website, which is accessible through the Commission’s website. Utilizing PlanetBids, emails were sent to 257 firms, 31 of which are located in Riverside County. Through the PlanetBids site, 14 firms downloaded the RFP; 1 of these firms is located in Riverside County. Staff responded to all questions submitted by potential proposers prior to the September 27 clarification deadline date. Two firms – Eadie + Payne LLP (Riverside) and Michael Baker International, Inc. (Rancho Cordova) – submitted proposals prior to the 2:00 p.m. submittal deadline on October 17. Both firms submitted responsive and responsible proposals. Utilizing the evaluation criteria set forth in the RFP, the two proposals were evaluated and scored by an evaluation committee comprised of the San Bernardino County Transportation Authority, Morongo Basin Transit Authority, and Commission staff.

Based on the evaluation committee’s assessment of the written proposals, the evaluation committee recommends contract award to Michael Baker International, Inc. to provide audit services for the TDA Triennial Audit for a three-year term, plus one two-year option, in an amount not to exceed $220,815, as this firm earned the highest total evaluation score.

The overall evaluation ranking, based on highest to lowest total evaluation score, and the total price are presented in the following table.

Firm Price Overall Ranking Michael Baker International, Inc. $220,815 1 Eadie + Payne LLP $200,000 2

The Commission’s professional services agreement will be entered into with the consultant subject to any changes approved by the Executive Director and pursuant to legal counsel review. Staff oversight of the contract will maximize the effectiveness of the consultant and minimize costs to the Commission.

Financial Information Yes FY 2018/19 $100,000 In Fiscal Year Budget: Year: Amount: N/A FY 2019/20+ $120,815 No Source of Funds: Local Transportation Funds Budget Adjustment: N/A GL/Project Accounting No.: 106 62 65401 Fiscal Procedures Approved: Date: 11/15/2018

Attachment: Draft Professional Services Agreement No. 19-62-009-00

Agenda Item 10

Agreement No. 19-62-009-00

RIVERSIDE COUNTY TRANSPORTATION COMMISSION AGREEMENT FOR AUDIT SERVICES FOR THE TRANSPORTATION DEVELOPMENT ACT (TDA) TRIENNIAL AUDIT WITH MICHAEL BAKER INTERNATIONAL, INC.

1. PARTIES AND DATE.

This Agreement is made and entered into this day of , 2018, by and between the RIVERSIDE COUNTY TRANSPORTATION COMMISSION ("the Commission") and MICHAEL BAKER INTERNATIONAL, INC. ("Consultant"), a CORPORATION.

2. RECITALS.

2.1 Consultant desires to perform and assume responsibility for the provision of certain professional consulting services required by Commission on the terms and conditions set forth in this Agreement. Consultant represents that it is a professional consultant, experienced in providing [___INSERT TYPE OF SERVICES___] services to public clients, is licensed in the State of California, and is familiar with the plans of Commission.

2.2 Commission desires to engage Consultant to render certain consulting services for audit services for the TDA triennial audit ("Project") as set forth herein.

3. TERMS.

3.1 General Scope of Services. Consultant promises and agrees to furnish to Commission all labor materials, tools, equipment, services, and incidental and customary work necessary to fully and adequately provide professional consulting services and advice on various issues affecting the decisions of Commission regarding the Project and on other programs and matters affecting Commission, hereinafter referred to as "Services". The Services are more particularly described in Exhibit "A" attached hereto and incorporated herein by reference. All Services shall be subject to, and performed in accordance with, this Agreement, the exhibits attached hereto and incorporated herein by reference, and all applicable local, state, and federal laws, rules and regulations.

3.2 Term. The term of this Agreement shall be from the date first specified above to December 31, 2021, unless earlier terminated as provided herein.

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92 The Commission, at its sole discretion, may extend this Agreement for an additional two-year option. Consultant shall complete the Services within the term of this Agreement and shall meet any other established schedules and deadlines.

3.3 Schedule of Services. Consultant shall perform the Services expeditiously, within the term of this Agreement, and in accordance with the Schedule of Services set forth in Exhibit "B" attached hereto and incorporated herein by reference. Consultant represents that it has the professional and technical personnel required to perform the Services in conformance with such conditions. In order to facilitate Consultant's conformance with the Schedule, the Commission shall respond to Consultant's submittals in a timely manner. Upon request of the Commission, Consultant shall provide a more detailed schedule of anticipated performance to meet the Schedule of Services.

3.4 Independent Contractor; Control and Payment of Subordinates. The Services shall be performed by Consultant under its supervision. Consultant will determine the means, method and details of performing the Services subject to the requirements of this Agreement. Commission retains Consultant on an independent contractor basis and Consultant is not an employee of Commission. Consultant retains the right to perform similar or different services for others during the term of this Agreement. Any additional personnel performing the Services under this Agreement on behalf of Consultant shall not be employees of Commission and shall at all times be under Consultant's exclusive direction and control. Consultant shall pay all wages, salaries, and other amounts due such personnel in connection with their performance of Services under this Agreement and as required by law. Consultant shall be responsible for all reports and obligations respecting such additional personnel, including, but not limited to: social security taxes, income tax withholding, unemployment insurance, and workers' compensation insurance.

3.5 Conformance to Applicable Requirements. All work prepared by Consultant shall be subject to the approval of Commission.

3.6 Substitution of Key Personnel. Consultant has represented to Commission that certain key personnel will perform and coordinate the Services under this Agreement. Should one or more of such personnel become unavailable, Consultant may substitute other personnel of at least equal competence and experience upon written approval of Commission. In the event that Commission and Consultant cannot agree as to the substitution of key personnel, Commission shall be entitled to terminate this Agreement for cause, pursuant to provisions of Section 3.16 of this Agreement. The key personnel for performance of this Agreement are as follows: ______.

3.7 Commission’s Representative. Commission hereby designates Executive Director, or his or her designee, to act as its representative for the performance of this Agreement ("Commission’s Representative"). Commission's representative shall have the power to act on behalf of Commission for all purposes

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93 under this Agreement. Consultant shall not accept direction from any person other than Commission's Representative or his or her designee.

3.8 Consultant’s Representative. Consultant hereby designates [___INSERT NAME OR TITLE___], or his or her designee, to act as its representative for the performance of this Agreement ("Consultant’s Representative"). Consultant’s Representative shall have full authority to represent and act on behalf of the Consultant for all purposes under this Agreement. The Consultant’s Representative shall supervise and direct the Services, using his or her best skill and attention, and shall be responsible for all means, methods, techniques, sequences and procedures and for the satisfactory coordination of all portions of the Services under this Agreement.

3.9 Coordination of Services. Consultant agrees to work closely with Commission staff in the performance of Services and shall be available to Commission's staff, consultants and other staff at all reasonable times.

3.10 Standard of Care; Licenses. Consultant shall perform the Services under this Agreement in a skillful and competent manner, consistent with the standard generally recognized as being employed by professionals in the same discipline in the State of California. Consultant represents and maintains that it is skilled in the professional calling necessary to perform the Services. Consultant warrants that all employees and subcontractors shall have sufficient skill and experience to perform the Services assigned to them. Finally, Consultant represents that it, its employees and subcontractors have all licenses, permits, qualifications and approvals of whatever nature that are legally required to perform the Services and that such licenses and approvals shall be maintained throughout the term of this Agreement. Consultant shall perform, at its own cost and expense and without reimbursement from Commission, any Services necessary to correct errors or omissions which are caused by the Consultant’s failure to comply with the standard of care provided for herein, and shall be fully responsible to the Commission for all damages and other liabilities provided for in the indemnification provisions of this Agreement arising from the Consultant’s errors and omissions.

3.11 Laws and Regulations. Consultant shall keep itself fully informed of and in compliance with all local, state and federal laws, rules and regulations in any manner affecting the performance of the Project or the Services, including all Cal/OSHA requirements, and shall give all notices required by law. Consultant shall be liable for all violations of such laws and regulations in connection with Services. If the Consultant performs any work knowing it to be contrary to such laws, rules and regulations and without giving written notice to Commission, Consultant shall be solely responsible for all costs arising therefrom. Consultant shall defend, indemnify and hold Commission, its officials, directors, officers, employees and agents free and harmless, pursuant to the indemnification provisions of this Agreement, from any claim or liability arising out of any failure or alleged failure to comply with such laws, rules or regulations.

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94 3.12 Insurance.

3.12.1 Time for Compliance. Consultant shall not commence work under this Agreement until it has provided evidence satisfactory to the Commission that it has secured all insurance required under this section, in a form and with insurance companies acceptable to the Commission. In addition, Consultant shall not allow any subcontractor to commence work on any subcontract until it has secured all insurance required under this section.

3.12.2 Minimum Requirements. Consultant shall, at its expense, procure and maintain for the duration of the Agreement insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the Agreement by the Consultant, its agents, representatives, employees or subcontractors. Consultant shall also require all of its subcontractors to procure and maintain the same insurance for the duration of the Agreement. Such insurance shall meet at least the following minimum levels of coverage:

(A) Minimum Scope of Insurance. Coverage shall be at least as broad as the latest version of the following: (1) General Liability: Insurance Services Office Commercial General Liability coverage (occurrence form CG 0001 or exact equivalent); (2) Automobile Liability: Insurance Services Office Business Auto Coverage (form CA 0001, code 1 (any auto) or exact equivalent); and (3) Workers’ Compensation and Employer’s Liability: Workers’ Compensation insurance as required by the State of California and Employer’s Liability Insurance.

(B) Minimum Limits of Insurance. Consultant shall maintain limits no less than: (1) General Liability: $2,000,000 per occurrence for bodily injury, personal injury and property damage. If Commercial General Liability Insurance or other form with general aggregate limit is used, either the general aggregate limit shall apply separately to this Agreement/location or the general aggregate limit shall be twice the required occurrence limit; (2) Automobile Liability: $1,000,000 per accident for bodily injury and property damage; and (3) if Consultant has an employees, Workers’ Compensation and Employer’s Liability: Workers’ Compensation limits as required by the Labor Code of the State of California. Employer’s Practices Liability limits of $1,000,000 per accident.

3.12.3 Professional Liability. Consultant shall procure and maintain, and require its sub-consultants to procure and maintain, for a period of five (5) years following completion of the Project, errors and omissions liability insurance appropriate to their profession. Such insurance shall be in an amount not less than $1,000,000 per claim. This insurance shall be endorsed to include contractual liability applicable to this Agreement and shall be written on a policy form coverage specifically designed to protect against acts, errors or omissions of the Consultant. “Covered Professional Services” as designated in the policy must specifically include work performed under this Agreement. The policy must “pay on behalf of” the insured and must include a provision establishing the insurer's duty to defend.

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95 3.12.4 Insurance Endorsements. The insurance policies shall contain the following provisions, or Consultant shall provide endorsements on forms approved by the Commission to add the following provisions to the insurance policies:

(A) General Liability.

(i) Commercial General Liability Insurance must include coverage for (1) bodily Injury and property damage; (2) personal Injury/advertising Injury; (3) premises/operations liability; (4) products/completed operations liability; (5) aggregate limits that apply per Project; (6) explosion, collapse and underground (UCX) exclusion deleted; (7) contractual liability with respect to this Agreement; (8) broad form property damage; and (9) independent consultants coverage.

(ii) The policy shall contain no endorsements or provisions limiting coverage for (1) contractual liability; (2) cross liability exclusion for claims or suits by one insured against another; or (3) contain any other exclusion contrary to this Agreement.

(iii) The policy shall give the Commission, its directors, officials, officers, employees, and agents insured status using ISO endorsement forms 20 10 10 01 and 20 37 10 01, or endorsements providing the exact same coverage.

(iv) The additional insured coverage under the policy shall be “primary and non-contributory” and will not seek contribution from the Commission’s insurance or self-insurance and shall be at least as broad as CG 20 01 04 13, or endorsements providing the exact same coverage.

(B) Automobile Liability. The automobile liability policy shall be endorsed to state that: (1) the Commission, its directors, officials, officers, employees and agents shall be covered as additional insureds with respect to the ownership, operation, maintenance, use, loading or unloading of any auto owned, leased, hired or borrowed by the Consultant or for which the Consultant is responsible; and (2) the insurance coverage shall be primary insurance as respects the Commission, its directors, officials, officers, employees and agents, or if excess, shall stand in an unbroken chain of coverage excess of the Consultant’s scheduled underlying coverage. Any insurance or self-insurance maintained by the Commission, its directors, officials, officers, employees and agents shall be excess of the Consultant’s insurance and shall not be called upon to contribute with it in any way.

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96 (C) Workers’ Compensation and Employers Liability Coverage. (i) Consultant certifies that he/she is aware of the provisions of Section 3700 of the California Labor Code which requires every employer to be insured against liability for workers’ compensation or to undertake self-insurance in accordance with the provisions of that code, and he/she will comply with such provisions before commencing work under this Agreement.

(ii) The insurer shall agree to waive all rights of subrogation against the Commission, its directors, officials, officers, employees and agents for losses paid under the terms of the insurance policy which arise from work performed by the Consultant.

(D) All Coverages.

(i) Defense costs shall be payable in addition to the limits set forth hereunder.

(ii) Requirements of specific coverage or limits contained in this section are not intended as a limitation on coverage, limits, or other requirement, or a waiver of any coverage normally provided by any insurance. It shall be a requirement under this Agreement that any available insurance proceeds broader than or in excess of the specified minimum insurance coverage requirements and/or limits set forth herein shall be available to the Commission, its directors, officials, officers, employees and agents as additional insureds under said policies. Furthermore, the requirements for coverage and limits shall be (1) the minimum coverage and limits specified in this Agreement; or (2) the broader coverage and maximum limits of coverage of any insurance policy or proceeds available to the named insured; whichever is greater.

(iii) The limits of insurance required in this Agreement may be satisfied by a combination of primary and umbrella or excess insurance. Any umbrella or excess insurance shall contain or be endorsed to contain a provision that such coverage shall also apply on a primary and non-contributory basis for the benefit of the Commission (if agreed to in a written contract or agreement) before the Commission’s own insurance or self-insurance shall be called upon to protect it as a named insured. The umbrella/excess policy shall be provided on a “following form” basis with coverage at least as broad as provided on the underlying policy(ies).

(iv) Consultant shall provide the Commission at least thirty (30) days prior written notice of cancellation of any policy required by this Agreement, except that the Consultant shall provide at least ten (10) days prior written notice of cancellation of any such policy due to non-payment of premium. If any of the required coverage is cancelled or expires during the term of this Agreement, the Consultant shall deliver renewal certificate(s) including the General Liability Additional

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97 Insured Endorsement to the Commission at least ten (10) days prior to the effective date of cancellation or expiration.

(v) The retroactive date (if any) of each policy is to be no later than the effective date of this Agreement. Consultant shall maintain such coverage continuously for a period of at least three years after the completion of the work under this Agreement. Consultant shall purchase a one (1) year extended reporting period A) if the retroactive date is advanced past the effective date of this Agreement; B) if the policy is cancelled or not renewed; or C) if the policy is replaced by another claims-made policy with a retroactive date subsequent to the effective date of this Agreement.

(vi) The foregoing requirements as to the types and limits of insurance coverage to be maintained by Consultant, and any approval of said insurance by the Commission, is not intended to and shall not in any manner limit or qualify the liabilities and obligations otherwise assumed by the Consultant pursuant to this Agreement, including but not limited to, the provisions concerning indemnification.

(vii) If at any time during the life of the Agreement, any policy of insurance required under this Agreement does not comply with these specifications or is canceled and not replaced, Commission has the right but not the duty to obtain the insurance it deems necessary and any premium paid by Commission will be promptly reimbursed by Consultant or Commission will withhold amounts sufficient to pay premium from Consultant payments. In the alternative, Commission may cancel this Agreement. The Commission may require the Consultant to provide complete copies of all insurance policies in effect for the duration of the Project.

(viii) Neither the Commission nor any of its directors, officials, officers, employees or agents shall be personally responsible for any liability arising under or by virtue of this Agreement.

Each insurance policy required by this Agreement shall be endorsed to state that:

3.12.5 Deductibles and Self-Insurance Retentions. Any deductibles or self-insured retentions must be declared to and approved by the Commission. If the Commission does not approve the deductibles or self-insured retentions as presented, Consultant shall guarantee that, at the option of the Commission, either: (1) the insurer shall reduce or eliminate such deductibles or self-insured retentions as respects the Commission, its directors, officials, officers, employees and agents; or, (2) the Consultant shall procure a bond guaranteeing payment of losses and related investigation costs, claims and administrative and defense expenses.

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98 3.12.6 Acceptability of Insurers. Insurance is to be placed with insurers with a current A.M. Best’s rating no less than A:VIII, licensed to do business in California, and satisfactory to the Commission.

3.12.7 Verification of Coverage. Consultant shall furnish Commission with original certificates of insurance and endorsements effecting coverage required by this Agreement on forms satisfactory to the Commission. The certificates and endorsements for each insurance policy shall be signed by a person authorized by that insurer to bind coverage on its behalf. All certificates and endorsements must be received and approved by the Commission before work commences. The Commission reserves the right to require complete, certified copies of all required insurance policies, at any time.

3.12.8 Subconsultant Insurance Requirements. Consultant shall not allow any subcontractors or subconsultants to commence work on any subcontract until they have provided evidence satisfactory to the Commission that they have secured all insurance required under this section. Policies of commercial general liability insurance provided by such subcontractors or subconsultants shall be endorsed to name the Commission as an additional insured using ISO form CG 20 38 04 13 or an endorsement providing the exact same coverage. If requested by Consultant, the Commission may approve different scopes or minimum limits of insurance for particular subcontractors or subconsultants.

3.13 Safety. Consultant shall execute and maintain its work so as to avoid injury or damage to any person or property. In carrying out its Services, the Consultant shall at all times be in compliance with all applicable local, state and federal laws, rules and regulations, and shall exercise all necessary precautions for the safety of employees appropriate to the nature of the work and the conditions under which the work is to be performed. Safety precautions as applicable shall include, but shall not be limited to: (A) adequate life protection and life saving equipment and procedures; (B) instructions in accident prevention for all employees and subcontractors, such as safe walkways, scaffolds, fall protection ladders, bridges, gang planks, confined space procedures, trenching and shoring, equipment and other safety devices, equipment and wearing apparel as are necessary or lawfully required to prevent accidents or injuries; and (C) adequate facilities for the proper inspection and maintenance of all safety measures.

3.14 Fees and Payment.

3.14.1 Compensation. Consultant shall receive compensation, including authorized reimbursements, for all Services rendered under this Agreement at the rates set forth in Exhibit "C" attached hereto. The total compensation shall not exceed [___INSERT WRITTEN DOLLAR AMOUNT___] ($[___INSERT NUMERICAL DOLLAR AMOUNT___]) without written approval of Commission's Executive Director (“Total Compensation”). Extra Work may be authorized, as described below, and if authorized, will be compensated at the rates and manner set forth in this Agreement.

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3.14.2 Payment of Compensation. Consultant shall submit to Commission a monthly statement which indicates work completed and hours of Services rendered by Consultant. The statement shall describe the amount of Services and supplies provided since the initial commencement date, or since the start of the subsequent billing periods, as appropriate, through the date of the statement. Commission shall, within 45 days of receiving such statement, review the statement and pay all approved charges thereon.

3.14.3 Reimbursement for Expenses. Consultant shall not be reimbursed for any expenses unless authorized in writing by Commission.

3.14.4 Extra Work. At any time during the term of this Agreement, Commission may request that Consultant perform Extra Work. As used herein, "Extra Work" means any work which is determined by Commission to be necessary for the proper completion of the Project, but which the parties did not reasonably anticipate would be necessary at the execution of this Agreement. Consultant shall not perform, nor be compensated for, Extra Work without written authorization from Commission's Executive Director.

3.15 Accounting Records. Consultant shall maintain complete and accurate records with respect to all costs and expenses incurred and fees charged under this Agreement. All such records shall be clearly identifiable. Consultant shall allow a representative of Commission during normal business hours to examine, audit, and make transcripts or copies of such records and any other documents created pursuant to this Agreement. Consultant shall allow inspection of all work, data, documents, proceedings, and activities related to the Agreement for a period of three (3) years from the date of final payment under this Agreement.

3.16 Termination of Agreement.

3.16.1 Grounds for Termination. Commission may, by written notice to Consultant, terminate the whole or any part of this Agreement at any time and without cause by giving written notice to Consultant of such termination, and specifying the effective date thereof. Upon termination, Consultant shall be compensated only for those services which have been fully and adequately rendered to Commission through the effective date of the termination, and Consultant shall be entitled to no further compensation. Consultant may not terminate this Agreement except for cause.

3.16.2 Effect of Termination. If this Agreement is terminated as provided herein, Commission may require Consultant to provide all finished or unfinished Documents and Data, as defined below, and other information of any kind prepared by Consultant in connection with the performance of Services under this Agreement. Consultant shall be required to provide such document and other information within fifteen (15) days of the request.

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100

3.16.3 Additional Services. In the event this Agreement is terminated in whole or in part as provided herein, Commission may procure, upon such terms and in such manner as it may determine appropriate, services similar to those terminated.

3.17 Delivery of Notices. All notices permitted or required under this Agreement shall be given to the respective parties at the following address, or at such other address as the respective parties may provide in writing for this purpose:

CONSULTANT: COMMISSION: ______Riverside County ______Transportation Commission ______4080 Lemon Street, 3rd Floor ______Riverside, CA 92501 Attn: ______Attn: Executive Director

Such notice shall be deemed made when personally delivered or when mailed, forty-eight (48) hours after deposit in the U.S. Mail, first class postage prepaid and addressed to the party at its applicable address. Actual notice shall be deemed adequate notice on the date actual notice occurred, regardless of the method of service.

3.18 Ownership of Materials/Confidentiality.

3.18.1 Documents & Data. This Agreement creates an exclusive and perpetual license for Commission to copy, use, modify, reuse, or sub-license any and all copyrights and designs embodied in plans, specifications, studies, drawings, estimates, materials, data and other documents or works of authorship fixed in any tangible medium of expression, including but not limited to, physical drawings or data magnetically or otherwise recorded on computer diskettes, which are prepared or caused to be prepared by Consultant under this Agreement (“Documents & Data”).

Consultant shall require all subcontractors to agree in writing that Commission is granted an exclusive and perpetual license for any Documents & Data the subcontractor prepares under this Agreement.

Consultant represents and warrants that Consultant has the legal right to grant the exclusive and perpetual license for all such Documents & Data. Consultant makes no such representation and warranty in regard to Documents & Data which were prepared by design professionals other than Consultant or provided to Consultant by the Commission.

Commission shall not be limited in any way in its use of the Documents & Data at any time, provided that any such use not within the purposes intended by this Agreement shall be at Commission’s sole risk.

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101 3.18.2 Intellectual Property. In addition, Commission shall have and retain all right, title and interest (including copyright, patent, trade secret and other proprietary rights) in all plans, specifications, studies, drawings, estimates, materials, data, computer programs or software and source code, enhancements, documents, and any and all works of authorship fixed in any tangible medium or expression, including but not limited to, physical drawings or other data magnetically or otherwise recorded on computer media (“Intellectual Property”) prepared or developed by or on behalf of Consultant under this Agreement as well as any other such Intellectual Property prepared or developed by or on behalf of Consultant under this Agreement.

The Commission shall have and retain all right, title and interest in Intellectual Property developed or modified under this Agreement whether or not paid for wholly or in part by Commission, whether or not developed in conjunction with Consultant, and whether or not developed by Consultant. Consultant will execute separate written assignments of any and all rights to the above referenced Intellectual Property upon request of Commission.

Consultant shall also be responsible to obtain in writing separate written assignments from any subcontractors or agents of Consultant of any and all right to the above referenced Intellectual Property. Should Consultant, either during or following termination of this Agreement, desire to use any of the above-referenced Intellectual Property, it shall first obtain the written approval of the Commission.

All materials and documents which were developed or prepared by the Consultant for general use prior to the execution of this Agreement and which are not the copyright of any other party or publicly available and any other computer applications, shall continue to be the property of the Consultant. However, unless otherwise identified and stated prior to execution of this Agreement, Consultant represents and warrants that it has the right to grant the exclusive and perpetual license for all such Intellectual Property as provided herein.

Commission further is granted by Consultant a non-exclusive and perpetual license to copy, use, modify or sub-license any and all Intellectual Property otherwise owned by Consultant which is the basis or foundation for any derivative, collective, insurrectional, or supplemental work created under this Agreement.

3.18.3 Confidentiality. All ideas, memoranda, specifications, plans, procedures, drawings, descriptions, computer program data, input record data, written information, and other Documents and Data either created by or provided to Consultant in connection with the performance of this Agreement shall be held confidential by Consultant. Such materials shall not, without the prior written consent of Commission, be used by Consultant for any purposes other than the performance of the Services. Nor shall such materials be disclosed to any person or entity not connected with the performance of the Services or the Project. Nothing furnished to Consultant which is otherwise known to Consultant or is generally known, or has become known, to the related industry shall be deemed confidential. Consultant shall not use Commission's

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102 name or insignia, photographs of the Project, or any publicity pertaining to the Services or the Project in any magazine, trade paper, newspaper, television or radio production or other similar medium without the prior written consent of Commission.

3.18.4 Infringement Indemnification. Consultant shall defend, indemnify and hold the Commission, its directors, officials, officers, employees, volunteers and agents free and harmless, pursuant to the indemnification provisions of this Agreement, for any alleged infringement of any patent, copyright, trade secret, trade name, trademark, or any other proprietary right of any person or entity in consequence of the use on the Project by Commission of the Documents & Data, including any method, process, product, or concept specified or depicted.

3.19 Cooperation; Further Acts. The Parties shall fully cooperate with one another, and shall take any additional acts or sign any additional documents as may be necessary, appropriate or convenient to attain the purposes of this Agreement.

3.20 Attorney's Fees. If either party commences an action against the other party, either legal, administrative or otherwise, arising out of or in connection with this Agreement, the prevailing party in such litigation shall be entitled to have and recover from the losing party reasonable attorney's fees and costs of such actions.

3.21 Indemnification. Consultant shall defend, indemnify and hold the Commission, its directors, officials, officers, agents, consultants, employees and volunteers free and harmless from any and all claims, demands, causes of action, costs, expenses, liabilities, losses, damages or injuries, in law or in equity, to property or persons, including wrongful death, in any manner arising out of or incident to any alleged negligent acts, omissions or willful misconduct of the Consultant, its officials, officers, employees, agents, consultants, and contractors arising out of or in connection with the performance of the Services, the Project or this Agreement, including without limitation, the payment of all consequential damages, attorneys fees and other related costs and expenses. Consultant shall defend, at Consultant’s own cost, expense and risk, any and all such aforesaid suits, actions or other legal proceedings of every kind that may be brought or instituted against the Commission, its directors, officials, officers, agents, consultants, employees and volunteers. Consultant shall pay and satisfy any judgment, award or decree that may be rendered against the Commission or its directors, officials, officers, agents, consultants, employees and volunteers, in any such suit, action or other legal proceeding. Consultant shall reimburse the Commission and its directors, officials, officers, agents, consultants, employees and volunteers, for any and all legal expenses and costs, including reasonable attorney’s fees, incurred by each of them in connection therewith or in enforcing the indemnity herein provided. Consultant’s obligation to indemnity shall not be restricted to insurance proceeds, if any, received by the Commission or its directors, officials, officers, agents, consultants, employees and volunteers. Notwithstanding the foregoing, to the extent Consultant's Services are subject to Civil Code Section 2782.8, the above indemnity shall be limited, to the extent required by Civil Code Section 2782.8, to claims that arise out of, pertain

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103 to, or relate to the negligence, recklessness, or willful misconduct of the Consultant. This Section 3.21 shall survive any expiration or termination of this Agreement.

3.22 Entire Agreement. This Agreement contains the entire Agreement of the parties with respect to the subject matter hereof, and supersedes all prior negotiations, understandings or agreements. This Agreement may only be supplemented, amended, or modified by a writing signed by both parties.

3.23 Governing Law. This Agreement shall be governed by the laws of the State of California. Venue shall be in Riverside County. 3.24 Time of Essence. Time is of the essence for each and every provision of this Agreement.

3.25 Commission's Right to Employ Other Consultants. The Commission reserves the right to employ other consultants in connection with this Project.

3.26 Successors and Assigns. This Agreement shall be binding on the successors and assigns of the parties, and shall not be assigned by Consultant without the prior written consent of Commission.

3.27 Prohibited Interests and Conflicts.

3.27.1 Solicitation. Consultant maintains and warrants that it has not employed nor retained any company or person, other than a bona fide employee working solely for Consultant, to solicit or secure this Agreement. Further, Consultant warrants that it has not paid nor has it agreed to pay any company or person, other than a bona fide employee working solely for Consultant, any fee, commission, percentage, brokerage fee, gift or other consideration contingent upon or resulting from the award or making of this Agreement. For breach or violation of this warranty, Commission shall have the right to rescind this Agreement without liability.

3.27.2 Conflict of Interest. For the term of this Agreement, no member, officer or employee of Commission, during the term of his or her service with Commission, shall have any direct interest in this Agreement, or obtain any present or anticipated material benefit arising therefrom.

3.27.3 Conflict of Employment. Employment by the Consultant of personnel currently on the payroll of the Commission shall not be permitted in the performance of this Agreement, even though such employment may occur outside of the employee’s regular working hours or on weekends, holidays or vacation time. Further, the employment by the Consultant of personnel who have been on the Commission payroll within one year prior to the date of execution of this Agreement, where this employment is caused by and or dependent upon the Consultant securing this or related Agreements with the Commission, is prohibited.

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104 3.27.4 Employment Adverse to the Commission. Consultant shall notify the Commission, and shall obtain the Commission’s written consent, prior to accepting work to assist with or participate in a third-party lawsuit or other legal or administrative proceeding against the Commission during the term of this Agreement.

3.28 Equal Opportunity Employment. Consultant represents that it is an equal opportunity employer and it shall not discriminate against any employee or applicant for employment because of race, religion, color, national origin, ancestry, sex or age. Such non-discrimination shall include, but not be limited to, all activities related to initial employment, upgrading, demotion, transfer, recruitment or recruitment advertising, layoff or termination. Consultant shall also comply with all relevant provisions of Commission's Disadvantaged Business Enterprise program, Affirmative Action Plan or other related Commission programs or guidelines currently in effect or hereinafter enacted.

3.29 Subcontracting. Consultant shall not subcontract any portion of the work or Services required by this Agreement, except as expressly stated herein, without prior written approval of the Commission. Subcontracts, if any, shall contain a provision making them subject to all provisions stipulated in this Agreement.

3.30 Prevailing Wages. By its execution of this Agreement, Consultant certified that it is aware of the requirements of California Labor Code Sections 1720 et seq. and 1770 et seq., as well as California Code of Regulations, Title 8, Section 16000 et seq. (“Prevailing Wage Laws”), which require the payment of prevailing wage rates and the performance of other requirements on certain “public works” and “maintenance” projects. If the Services are being performed as part of an applicable “public works” or “maintenance” project, as defined by the Prevailing Wage Laws, and if the total compensation is $1,000 or more, Consultant agrees to fully comply with such Prevailing Wage Laws. The Commission shall provide Consultant with a copy of the prevailing rate of per diem wages in effect at the commencement of this Agreement. Consultant shall make copies of the prevailing rates of per diem wages for each craft, classification or type of worker needed to execute the Services available to interested parties upon request, and shall post copies at the Consultant's principal place of business and at the project site. Consultant shall defend, indemnify and hold the Commission, its elected officials, officers, employees and agents free and harmless from any claims, liabilities, costs, penalties or interest arising out of any failure or alleged failure to comply with the Prevailing Wage Laws.

3.30.1 DIR Registration. Effective March 1, 2015, if the Services are being performed as part of an applicable “public works” or “maintenance” project, then pursuant to Labor Code Sections 1725.5 and 1771.1, the Consultant and all subconsultants must be registered with the Department of Industrial Relations. If applicable, Consultant shall maintain registration for the duration of the Project and require the same of any subconsultants. This Project may also be subject to compliance monitoring and enforcement by the Department of Industrial Relations. It

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105 shall be Consultant’s sole responsibility to comply with all applicable registration and labor compliance requirements.

3.31 Employment of Apprentices. This Agreement shall not prevent the employment of properly indentured apprentices in accordance with the California Labor Code, and no employer or labor union shall refuse to accept otherwise qualified employees as indentured apprentices on the work performed hereunder solely on the ground of race, creed, national origin, ancestry, color or sex. Every qualified apprentice shall be paid the standard wage paid to apprentices under the regulations of the craft or trade in which he or she is employed and shall be employed only in the craft or trade to which he or she is registered. If California Labor Code Section 1777.5 applies to the Services, Consultant and any subcontractor hereunder who employs workers in any apprenticeable craft or trade shall apply to the joint apprenticeship council administering applicable standards for a certificate approving Consultant or any sub-consultant for the employment and training of apprentices. Upon issuance of this certificate, Consultant and any sub-consultant shall employ the number of apprentices provided for therein, as well as contribute to the fund to administer the apprenticeship program in each craft or trade in the area of the work hereunder.

The parties expressly understand that the responsibility for compliance with provisions of this Section and with Sections 1777.5, 1777.6 and 1777.7 of the California Labor Code in regard to all apprenticeable occupations lies with Consultant.

3.32 No Waiver. Failure of Commission to insist on any one occasion upon strict compliance with any of the terms, covenants or conditions hereof shall not be deemed a waiver of such term, covenant or condition, nor shall any waiver or relinquishment of any rights or powers hereunder at any one time or more times be deemed a waiver or relinquishment of such other right or power at any other time or times.

3.33 Eight-Hour Law. Pursuant to the provisions of the California Labor Code, eight hours of labor shall constitute a legal day's work, and the time of service of any worker employed on the work shall be limited and restricted to eight hours during any one calendar day, and forty hours in any one calendar week, except when payment for overtime is made at not less than one and one-half the basic rate for all hours worked in excess of eight hours per day ("Eight-Hour Law"), unless Consultant or the Services are not subject to the Eight-Hour Law. Consultant shall forfeit to Commission as a penalty, $50.00 for each worker employed in the execution of this Agreement by him, or by any sub-consultant under him, for each calendar day during which such workman is required or permitted to work more than eight hours in any calendar day and forty hours in any one calendar week without such compensation for overtime violation of the provisions of the California Labor Code, unless Consultant or the Services are not subject to the Eight-Hour Law.

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106 3.34 Subpoenas or Court Orders. Should Consultant receive a subpoena or court order related to this Agreement, the Services or the Project, Consultant shall immediately provide written notice of the subpoena or court order to the Commission. Consultant shall not respond to any such subpoena or court order until notice to the Commission is provided as required herein, and shall cooperate with the Commission in responding to the subpoena or court order.

3.35 Survival. All rights and obligations hereunder that by their nature are to continue after any expiration or termination of this Agreement, including, but not limited to, the indemnification and confidentiality obligations, and the obligations related to receipt of subpoenas or court orders, shall survive any such expiration or termination.

3.36 No Third Party Beneficiaries. There are no intended third party beneficiaries of any right or obligation assumed by the Parties.

3.37 Labor Certification. By its signature hereunder, Consultant certifies that it is aware of the provisions of Section 3700 of the California Labor Code which require every employer to be insured against liability for Workers’ Compensation or to undertake self-insurance in accordance with the provisions of that Code, and agrees to comply with such provisions before commencing the performance of the Services.

3.38 Counterparts. This Agreement may be signed in counterparts, each of which shall constitute an original.

3.39 Incorporation of Recitals. The recitals set forth above are true and correct and are incorporated into this Agreement as though fully set forth herein.

3.40 Invalidity; Severability. If any portion of this Agreement is declared invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions shall continue in full force and effect.

3.41 Conflicting Provisions. In the event that provisions of any attached exhibits conflict in any way with the provisions set forth in this Agreement, the language, terms and conditions contained in this Agreement shall control the actions and obligations of the Parties and the interpretation of the Parties’ understanding concerning the performance of the Services.

3.42 Headings. Article and Section Headings, paragraph captions or marginal headings contained in this Agreement are for convenience only and shall have no effect in the construction or interpretation of any provision herein.

3.43 Assignment or Transfer. Consultant shall not assign, hypothecate, or transfer, either directly or by operation of law, this Agreement or any interest herein, without the prior written consent of the Commission. Any attempt to do so shall be null and void, and any assignees, hypothecates or transferees shall acquire no right or interest by reason of such attempted assignment, hypothecation or transfer.

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3.44 Authority to Enter Agreement. Consultant has all requisite power and authority to conduct its business and to execute, deliver, and perform the Agreement. Each Party warrants that the individuals who have signed this Agreement have the legal power, right, and authority to make this Agreement and bind each respective Party.

[SIGNATURES ON FOLLOWING PAGE]

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108 SIGNATURE PAGE TO RIVERSIDE COUNTY TRANSPORTATION COMMISSION AGREEMENT FOR AUDIT SERVICES FOR THE TRANSPORTATION DEVELOPMENT ACT (TDA) TRIENNIAL AUDIT WITH [___CONSULTANT___]

IN WITNESS WHEREOF, this Agreement was executed on the date first written above.

RIVERSIDE COUNTY CONSULTANT TRANSPORTATION COMMISSION [INSERT NAME OF CONSULTANT]

By: ______By: ______[INSERT NAME] Signature Chairman ______Name [NOT NEEDED IF APPROVED BY COMMISSION] ______Title By: ______Anne Mayer Executive Director

Approved as to Form: Attest:

By: ______By: ______Best Best & Krieger LLP Its: Secretary General Counsel

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109 EXHIBIT "A" - SCOPE OF SERVICES [ TO BE INSERTED] EXHIBIT "B" - SCHEDULE OF SERVICES [ TO BE INSERTED] EXHIBIT "C" – COMPENSATION [ TO BE INSERTED]

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110