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., . . . , . ,. - 8A9 CALIFORNIA PENSION FINANCING PROGRAMS UPDATE - NEW FINANCING PROGRAM '- A web-hosted conference call has been sched- Web Hosting Access Infonnation uled on Thursdllv ADrIl1. 2004 lit 10:00 AM to discuss a new short,term pension financing - . Go to the following Web Meeting URL: program and to provide an update on the Calif(¡~- nia Communities' Pension Obligation Bond Pro- https:/Iwww.l'allinfo.comlinterface/ gram. The presentation will last approximately 30 partici pantLo~ í n . jsp ?host=g cc minutes and will be followed by an open question and answer period. . In the Phone Number field type in: 8663654406 (do not enter a '1. prior to the num- The Agenda will include discussions about: ber, or dashes between numbers) 1. Hu! financing program offered through the . In the Access Code field type in: 3624137 California Statewide Communities Development Authority (CSCDA) will provide short-term funding . Please register by entering your name, email of 2004-05 Normal Cost pension contributions: address, phone number and local agency name. . CalPERS Employers (and some non- . Click on Register to enter the Web Meeting. CalPERS Employers) can receive approximately a 4% discount on Normal Cost contributions for If you cannot participate in the Web-hosted 2004-05 fiscal year payments paid to CalPERS on conference call July 1,2004. . 1.35%. Tax and Revenue Anticipation Notes A recording of the call will be available at about 12:00 PM on Thursday, April 1, 2004. An e-mail (taxable rate) can be issued through the existing with instructions to access the recorded Web- CSCDA TRANs program to finance the discounted hosted call will be distributed after the call. ',-- Normal Contribution paid to CaIPERS. ......................... .Current market taxable one year fixed rate VLF HARDSHIP FUNDS RELEASED 1. UDdate on CSCDA's long term Pension Obligation Bond Program The State Controller's Office distributed funds to 23 local agencies that qualified for VLF hardship , Approximately $500 million of POBs are relief. Though the hardship provisions were expected to be issued through CSCDA in June included in the 2003-04 budget trailer bill, the 2004 for California cities and counties. related appropriation was not included. RecenUy chaptered S8 1057 included the appropriation for . Details about a September 2004 issuance will the hardship cases. be discussed on the web-hosted conference call. Instructions to participate in the web-hosted The hardship applications were approved on the specific circumstances noted in the original conference call are: legislation: (1)VLF pledged as security for indebt- Telephone Conference Call edness; (2)VLF revenues exceed 37 percent of general revenues; and (3)newly incorporated . Dial 1-800-470-5906 cities. Cities that received hardship funding . Ask for the "California Communities Pension included: (1)Apple Valley, Gardena, South Gate, Obligation Bond" conference call Susanville, Vallejo; (2) Avenal, Calipatria. Corcoran, Huron, Laguna Woods, McFarland, . This is an operator assisted call; please dial Orange Cove, Parlier, Soledad, Wasco; (3)Aliso in 5 to 10 minutes prior to the start of the call. Viejo, Citrus Heights, Elk Grove, Goleta, Oakley, Rancho Cordova, Rancho Santa Margarita. '"- Visit the League's Official Web Site..www.cacities.org PRIORITY FOCUSIPAGE 3