Finance Committee Materials
4/26/2017 9:25:11 AM
4/26/2017 9:25:11 AM
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50698027.2 <br />TO:Board of Directors <br />FROM:Bill D. Carnahan <br />SUBJECT:Finance Committee Report <br />DATE:December 3, 2013 <br />A meeting of the Finance Committee was held on December 2, 2013 at the SCPPA office in Glendora. <br />Committee members present were:Brian Beelner (Anaheim); Bob Liu (Burbank); Rebecca Gallegos <br />(Colton);Sondra Ainsworth (IID); Mario Ignacio (LADWP); Shari Thomas (Pasadena); Laura Nomura <br />(Riverside); and Bill Fox (Vernon). <br />Others present were:Stephen Cole (Norton Rose Fulbright); Mike Berwanger and Dan Hartman and Will <br />Frymann (via teleconference)(Public Financial Management);Therese Savery (LADWP/SCPPA); Bill <br />Carnahan, Robert Rozanski and Richard Morillo (SCPPA). <br />The following are the business matters transacted by the Committee: <br />1.Investment Report <br />The Committee reviewed the Investment Report for the month ended October 31, 2013. The <br />Committee recommended forwarding the report to the Board for receipt and filing. <br />2.Palo Verde Nuclear Generation Station Termination Funding Status Report <br />Mario Ignacio presented the Palo Verde Project Termination Annual Funding Status Report for 2012 to <br />the Committee, which indicates, among other things, that the level of funding by SCPPA continues to <br />be sufficient. The Committee recommended forwarding the report to the Board for receipt and filing. <br />3.Market and VRDO Update <br />The Committee received a market and VRDO status report from PFM. All variable resets continue to be <br />at very low levels. The Committee also discussed the extensions of certain liquidity facilities and will <br />discuss further such extensions at the January meeting. <br />4.Unsolicited Proposals <br />The Committee reviewed unsolicited proposals from J.P. Morgan and Wells Fargo Securities. The <br />Committee took no action with respect to such proposals. <br />THE NEXT REGULARLY SCHEDULED <br />FINANCE COMMITTEE MEETING WILL BE JANUARY 6, 2014.
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