Loading...
DRAFT CC Packet 2023.08.15 $*(1'$ 35$779,//(&,7<&281&,/ 78(6'$<$8*867  $3/('*(2)$//(*,$1&(727+($0(5,&$1)/$*  ,192&$7,21  &$//7225'(5  7+(&+$5$&7(575$,72)7+(0217+,6$/(571(66Being aware of what is taking place around me so I can have the right response.  $33529$/2)0,187(63XEOLF+HDULQJDQG&LW\&RXQFLO0HHWLQJ$XJXVW  &200(176)5203(5621635(6(175(*$5',1*721,*+7¶6$*(1'$  0$<25¶65(3257  5(3257)520&281&,/2163(&,$/&200,77((6  5(3257217+(67$7862)&,7<),1$1&(6  &216(17$*(1'$  5(62/87,217R$XWKRUL]HWKH0D\RUWRKDYH*DUEDJHDQG5XEELVKDW:DVKLQJWRQ )HUU\5RDG$EDWHGDQG&KDUJH$Q\,QFXUUHG([SHQVHVIRUWKH$EDWHPHQW3URFHVV3XUVXDQW WR&KDSWHUet seq&LW\RI3UDWWYLOOH&RGHRI2UGLQDQFHV^6SRQVRUHG%\&RXQFLO3UHVLGHQW 3UR7HPSRUH6WULFKLN`  5(62/87,217R*UDQW3HUPLVVLRQWRWKH3UDWWYLOOH/LRQV4XDUWHUEDFN&OXEWR&ROOHFWD 3DUNLQJ)HHDW6WDQOH\-HQVHQ6WDGLXPIRUWKH)RRWEDOO6HDVRQ^6SRQVRUHG%\&RXQFLO 3UHVLGHQW3UR7HPSRUH6WULFKLN`  5(62/87,217R6XUSOXV3HUVRQDO3URSHUW\IURPWKH6DQLWDWLRQ'HSDUWPHQW^6SRQVRUHG %\&RXQFLORU&KDPEHUV`  5(62/87,217R$GRSWD7UDQVSRUWDWLRQ3ODQIRU)LVFDO<HDUDV5HTXLUHGE\$FW IRUWKH5HEXLOG$ODEDPD)XQG^6SRQVRUHG%\&RXQFLORU-DFNVRQ`  5(62/87,217R5DWLI\$IILUPDQG$XWKRUL]HWKH&LW\RI3UDWWYLOOHWR3DUWLFLSDWHLQWKH6WDWH DQG /RFDO &\EHUVHFXULW\ *UDQW 3URJUDP 6/&*3  ^6SRQVRUHG %\ &RXQFLO 3UHVLGHQW 3UR 7HPSRUH6WULFKLN`  $*(1'$  5(62/87,217R$XWKRUL]HWKH3XUFKDVHRI2QH  RU1HZHU¶(2QH/DGGHU 7UXFNIURPWKH+*$&%X\3XUFKDVLQJ&RRSHUDWLYH&RQWUDFW1XPEHU)6IURP6XQEHOW )LUH,QFIRUWKH)LUH'HSDUWPHQWDWD&RVW1RWWR([FHHG^6SRQVRUHG%\ &RXQFLO3UHVLGHQW3UR7HPSRUH6WULFKLN`  5(62/87,217R$PHQG)<%XGJHWDQG$XWKRUL]HWKH5HOHDVHRI)XQGVIRUWKH 3XUFKDVHRI2QH  .HQZRUWK7*DUEDJH7UXFNWKURXJKWKH6RXUFHZHOO3XUFKDVLQJ &RRSHUDWLYH &RQWUDFW 1XPEHU 7+& IURP ,QJUDP (TXLSPHQW&RPSDQ\ IRU WKH 6DQLWDWLRQ 'HSDUWPHQW DW D &RVW 1RW WR ([FHHG  ^6SRQVRUHG %\ &RXQFLORU &KDPEHUV`  5(62/87,217R6HWD3XEOLF+HDULQJWR5H]RQH3URSHUW\/RFDWHG,QVLGHWKH&RUSRUDWH /LPLWV(DVWRI%ULGJH&UHHN5RDGDQG:HVWRI3DUNYLHZ'ULYHIURP)$5 )RUHVW$JULFXOWXUH 5HFUHDWLRQ WR5 6LQJOH)DPLO\5HVLGHQWLDO  3HWLWLRQHU*RRGZ\Q%XLOGLQJ&RPSDQ\,QF  5HSUHVHQWDWLYH/DUU\(6SHDNVDQG$VVRFLDWHV  2ZQHU)UDQFHV&DUWHU(VWDWH ^6SRQVRUHG %\&RXQFLORU6WULSOLQ`    5(62/87,217R$XWKRUL]HWKH&LW\RI3UDWWYLOOHWR(QWHULQWRD&RQVWUXFWLRQ$JUHHPHQW ZLWKWKH6WDWHRI$ODEDPD$FWLQJE\DQGWKURXJKWKH$ODEDPD'HSDUWPHQWRI7UDQVSRUWDWLRQ $/'27  IRU $/'27 3URMHFW 1R 67301   &306 5HI  IRU WKH 5HVXUIDFLQJRQ/RZHU.LQJVWRQ5RDGIURPWK6WUHHWWR%UHDNIDVW&UHHN5RDGDWD7RWDO&RVW 1RWWR([FHHG 1HW&RVWWR&LW\1RWWR([FHHG ^6SRQVRUHG%\ &RXQFLORU-DFNVRQ`   5(62/87,217R $XWKRUL]H WKH 5HOHDVH RI )XQGV WR 3HUIRUP 6HZHU 5HSDLUV $ORQJ 0RQFULHI6WUHHWWR0XUSK\([FDYDWLRQ//&IRUWKH:DVWHZDWHU'LYLVLRQRIWKH3XEOLF:RUNV 'HSDUWPHQWDWD&RVW1RWWR([FHHG^6SRQVRUHG%\&RXQFLORU6WULSOLQ`  5(62/87,217R$ZDUG%LG1RWR0XUSK\([FDYDWLRQ//&IRU3DUNLQJ/RW ,PSURYHPHQWVIRUWKH6DQLWDWLRQDQG3XEOLF:RUNV'HSDUWPHQWVDWD&RVW1RWWR([FHHG ^6SRQVRUHG%\&RXQFLORU0HUULFN`   5(62/87,21 7R $XWKRUL]H WKH 5HOHDVH RI )XQGV WR 3HUIRUP 6HZHU 5HSDLUV $ORQJ :DVKLQJWRQ)HUU\5RDGWR0XUSK\([FDYDWLRQ//&IRUWKH:DVWHZDWHU'LYLVLRQRIWKH3XEOLF :RUNV'HSDUWPHQWDWD&RVW1RWWR([FHHG^6SRQVRUHG%\&RXQFLORU6WULSOLQ`  5(62/87,217R$XWKRUL]HWKH&LW\RI3UDWWYLOOHWR(QWHULQWRD&RQVWUXFWLRQ$JUHHPHQW ZLWKWKH6WDWHRI$ODEDPD$FWLQJE\DQGWKURXJKWKH$ODEDPD'HSDUWPHQWRI7UDQVSRUWDWLRQ $/'27  IRU $/'27 3URMHFW 1R 67301   &306 5HI  IRU WKH 5HVXUIDFLQJRQ'RVWHU5RDGIURP)OHHWZRRG5RDGWR65 86 DWD7RWDO&RVW1RWWR ([FHHG 1HW&RVWWR&LW\1RWWR([FHHG ^6SRQVRUHG%\&RXQFLORU -DFNVRQ`  5(62/87,217R$XWKRUL]HWKH5HOHDVHRI)XQGVIRUWKH3XUFKDVHRI)RXU  $6$OO :HDWKHU6DPSOHUVIURP+$&+IRUWKH:DVWHZDWHU'LYLVLRQRIWKH3XEOLF:RUNV'HSDUWPHQWDW D&RVW1RWWR([FHHG^6SRQVRUHG%\&RXQFLORU6WULSOLQ`  5(62/87,217R$XWKRUL]HWKH0D\RUWR(QWHULQWRDQ$JUHHPHQWZLWK6DIH+DYHQ %DE\%R[HV 6+%% DQG.LGVWR/RYH)RXQGDWLRQIRUWKH3ODFHPHQWD6DIHW\'HYLFHDW)LUH 6WDWLRQORFDWHGDW2OG5LGJH5RDG3UDWWYLOOH$/^6SRQVRUHG%\&RXQFLO3UHVLGHQW %RRQH`  5(62/87,217R $PHQG WKH %XGJHW DQG $XWKRUL]H WKH 5HOHDVH RI )XQGV IRU WKH 3XUFKDVHRI2QH  )RUG)[WKURXJKWKH6RXUFHZHOO3XUFKDVLQJ&RRSHUDWLYH &RQWUDFW1XPEHU1$)IURP,QJUDP(TXLSPHQW&RPSDQ\IRUWKH:DVWHZDWHU'LYLVLRQ RI WKH 3XEOLF :RUNV 'HSDUWPHQW DW D &RVW 1RW WR ([FHHG  ^6SRQVRUHG %\ &RXQFLORU6WULSOLQ`  &200(176)5203(5621635(6(17  &/26,1*&200(176  $'-2851                    The next City Council meeting is scheduled for Tuesday, September 5, 2023.   5(62/87,21ϭ Ϯ >7R$XWKRUL]HWKH0D\RUWRKDYH*DUEDJHDQG5XEELVKDW:DVKLQJWRQ)HUU\5RDGϯ $EDWHGDQG&KDUJH$Q\,QFXUUHG([SHQVHVIRUWKH$EDWHPHQW3URFHVV3XUVXDQWWR&KDSWHUϰ et seq&LW\RI3UDWWYLOOH&RGHRI2UGLQDQFHV@ϱ ϲ ^6SRQVRUHG%\&RXQFLO3UHVLGHQW3UR7HPSRUH6WULFKLN`ϳ ϴ :+(5($6WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHGHFODUHGLQ5HVROXWLRQ%RRNϵ ϭϬ $3DJHWKDWNHHSLQJJDUEDJHDQGUXEELVKDW:DVKLQJWRQ)HUU\5RDGFRQVWLWXWHGDϭϭ ϭϮ SXEOLFQXLVDQFHDQGVHWD3XEOLF+HDULQJRQVDLGQXLVDQFHDQGϭϯ ϭϰ :+(5($6WKH$XWDXJD&RXQW\WD[UHFRUGVOLVWWKHSURSHUW\RZQHUDV:DOWKDOO-Uϭϱ ϭϲ *HRUJH3ZLWKDQDGGUHVVRI(YHUJUHHQ6WUHHW3UDWWYLOOH$ODEDPDWR3DUFHOϭϳ ϭϴ 1XPEHUDQGϭϵ ϮϬ :+(5($6QRWLFHZDVSURYLGHGWRFRUUHFWUHPHG\RUUHPRYHWKHJDUEDJHDQGUXEELVKϮϭ ϮϮ DQGϮϯ Ϯϰ  :+(5($6WKHRZQHURIVDLGSURSHUW\KDVIDLOHGDQGRUUHIXVHGWRFRUUHFWUHPHG\RUϮϱ Ϯϲ UHPRYHVDLGQXLVDQFHE\WKHH[SLUDWLRQRIVDLGQRWLFHDQGϮϳ Ϯϴ :+(5($6WKHRZQHURIVDLGSURSHUW\GLGQRWILOHZULWWHQREMHFWLRQVZLWKWKH&LW\&OHUN¶VϮϵ ϯϬ 2IILFHZLWKLQWKHWLPHSUHVFULEHGE\&LW\RI3UDWWYLOOH&RGHRI2UGLQDQFHV6HFWLRQ F ϯϭ ϯϮ DQGϯϯ ϯϰ :+(5($6WKH&LW\&RXQFLOKHOGWKHUHTXLUHG3XEOLF+HDULQJDWSPRQ$XJXVWϯϱ ϯϲ SHUPLWWLQJWKHRZQHURIVDLGSURSHUW\WRSUHVHQWHYLGHQFHREMHFWLRQVDQGSURWHVWϯϳ ϯϴ UHJDUGLQJVDLGQXLVDQFHDQGϯϵ ϰϬ :+(5($6&KDSWHUet seq.&LW\RI3UDWWYLOOH&RGHRI2UGLQDQFHVDXWKRUL]HVWKHϰϭ ϰϮ &LW\WRGRVXFKZRUNRUPDNHVXFKLPSURYHPHQWVWKDWDUHQHFHVVDU\WRFRUUHFWUHPHG\RUϰϯ ϰϰ UHPRYHVXFKFRQGLWLRQVSD\WKHUHIRUHDQGFKDUJHWKHH[SHQVHVLQFXUUHGIRUWKHDEDWHPHQWϰϱ ϰϲ SURFHVVWRWKHRZQHURIVXFKSURSHUW\ϰϳ ϰϴ 12:7+(5()25(%(,75(62/9('WKDWWKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHϰϵ ϱϬ GHFODUHVWKDWWKHJDUEDJHDQGUXEELVKDW:DVKLQJWRQ)HUU\5RDGFRQWLQXHGWREHDSXEOLFϱϭ ϱϮ QXLVDQFHDWWKHH[SLUDWLRQRIWKHQRWLFHRIYLRODWLRQϱϯ ϱϰ %(,7)857+(55(62/9('WKDWWKH0D\RUVKDOOKDYHWKHJDUEDJHDQGUXEELVKDWϱϱ ϱϲ VDLGSURSHUW\UHPRYHGXVLQJ&LW\IRUFHVRUSULYDWHFRQWUDFWRUV7KHSURSHUW\RZQHUVKDOOKDYHϱϳ ϱϴ WKHULJKWWRUHPRYHVDLGQXLVDQFHDWWKHLUH[SHQVHSURYLGHGWKDWWKHUHPRYDOLVGRQHSULRUWRϱϵ ϲϬ WKHFRPPHQFHPHQWRIZRUNE\HPSOR\HHVRUDJHQWVRIWKH&LW\RI3UDWWYLOOHKRZHYHUWKLVGRHVϲϭ ϲϮ QRWDEROLVKLQFXUUHGH[SHQVHVϲϯ ϲϰ   %(,7)857+(55(62/9('WKH0D\RUVKDOONHHSDQDFFRXQWLQJRIDOOFRVWVUHODWHGϭ Ϯ WRWKLVUHTXHVWDQGUHSRUWVXFKFRVWVWRWKH&LW\&RXQFLOIROORZLQJLWVDEDWHPHQWϯ ϰ $'237('7+,67+'$<2)$8*867ϱ ϲ ϳ ϴ %\ /RUD/HH%RRQH3UHVLGHQWϵ 3UDWWYLOOH&LW\&RXQFLOϭϬ ϭϭ $87+(17,&$7('7+,67+'$<2)$8*867ϭϮ ϭϯ ϭϰ ϭϱ %\ 3DXOD*%DUORZϭϲ &LW\&OHUNϭϳ ϭϴ $33529('ϭϵ ϮϬ Ϯϭ ϮϮ %\ %LOO*LOOHVSLH-U Ϯϯ 0D\RUϮϰ Ϯϱ Ϯϲ Ϯϳ Ϯϴ Ϯϵ ϯϬ ϯϭ ϯϮ ϯϯ ϯϰ ϯϱ ϯϲ ϯϳ ϯϴ ϯϵ ϰϬ ϰϭ ϰϮ ϰϯ ϰϰ ϰϱ ϰϲ ϰϳ ϰϴ ϰϵ ϱϬ ϱϭ ϱϮ ϱϯ ϱϰ ϱϱ ϱϲ ϱϳ ϱϴ ϱϵ ϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R*UDQW3HUPLVVLRQWRWKH3UDWWYLOOH/LRQV4XDUWHUEDFN&OXEWR&ROOHFWD3DUNLQJ)HHDWϯ 6WDQOH\-HQVHQ6WDGLXPIRUWKH)RRWEDOO6HDVRQ@ϰ ϱ ^6SRQVRUHG%\&RXQFLO3UHVLGHQW3UR7HPSRUH6WULFKLN`ϲ ϳ :+(5($6WKH3UDWWYLOOH/LRQV4XDUWHUEDFN&OXEKDVUHTXHVWHGSHUPLVVLRQWRFRQWLQXHϴ ϵ WRFKDUJHDSHUYHKLFOHSDUNLQJIHHDW6WDQOH\-HQVHQ6WDGLXPGXULQJWKHIRRWEDOOϭϬ ϭϭ VHDVRQϭϮ ϭϯ 12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHWKDWϭϰ ϭϱ SHUPLVVLRQLVKHUHE\JUDQWHGDQGWKDWSDUNLQJIHHVFROOHFWHGDUHWREHXVHGIRU3UDWWYLOOH+LJKϭϲ ϭϳ 6FKRRO$WKOHWLFSURJUDPVϭϴ ϭϵ %(,7)857+(55(62/9('WKDWWKH3UDWWYLOOH/LRQV4XDUWHUEDFN&OXEVKDOONHHSDQϮϬ Ϯϭ DFFRXQWLQJRIDOOSDUNLQJIHHVWDNHQLQKRZWKRVHIXQGVZHUHH[SHQGHGDQGUHSRUWVXFKFRVWVϮϮ Ϯϯ WRWKH&LW\&RXQFLORQDPRQWKO\EDVLVϮϰ Ϯϱ $'237('7+,67+'$<2)$8*867Ϯϲ Ϯϳ Ϯϴ Ϯϵ %\ /RUD/HH%RRQH3UHVLGHQWϯϬ  3UDWWYLOOH&LW\&RXQFLOϯϭ ϯϮ $87+(17,&$7('7+,67+'$<2)$8*867ϯϯ ϯϰ ϯϱ ϯϲ %\ 3DXOD*%DUORZϯϳ  &LW\&OHUNϯϴ ϯϵ $33529('ϰϬ ϰϭ ϰϮ ϰϯ %\ %LOO*LOOHVSLH-Uϰϰ  0D\RUϰϱ ϰϲ ϰϳ ϰϴ ϰϵ ϱϬ ϱϭ ϱϮ ϱϯ ϱϰ ϱϱ ϱϲ ϱϳ ϱϴ ϱϵ ϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R6XUSOXV3HUVRQDO3URSHUW\IURPWKH6DQLWDWLRQ'HSDUWPHQW@ϯ ϰ ^6SRQVRUHG%\&RXQFLORU&KDPEHUV`ϱ ϲ :+(5($6WKH&LW\RI3UDWWYLOOH6DQLWDWLRQ'HSDUWPHQWKDVSHUVRQDOSURSHUW\WKDWLVϳ ϴ QRORQJHUQHHGHGIRUSXEOLFRUPXQLFLSDOSXUSRVHVDQGϵ ϭϬ :+(5($6†Code of AlabamaDVDPHQGHGDXWKRUL]HVWKHPXQLFLSDOϭϭ ϭϮ JRYHUQLQJERG\WRGLVSRVHRIXQQHHGHGSHUVRQDOSURSHUW\ϭϯ ϭϰ 12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHWKDWϭϱ ϭϲ WKHIROORZLQJSHUVRQDOSURSHUW\RZQHGE\WKH&LW\LVQRORQJHUQHHGHGIRUSXEOLFRUPXQLFLSDOϭϳ ϭϴ SXUSRVHVDQGVDLGSURSHUW\VKDOOEHUHPRYHGIURPWKHLQYHQWRU\RIWKH6DQLWDWLRQ'HSDUWPHQWϭϵ ϮϬ x 6DPVXQJ6&;1$0XOWLIXQFWLRQ3ULQWHU6HULDO1XPEHU='%%'==Ϯϭ ϮϮ %(,7)857+(55(62/9('WKDWWKH&LW\&RXQFLODXWKRUL]HVWKH0D\RUWRVHOOVDLGϮϯ Ϯϰ SURSHUW\WKURXJK*RY'HDOVFRPDQGWKDWSURFHHGVIRUVDLGSURSHUW\EHGHSRVLWHGLQWRWKHϮϱ Ϯϲ 6DQLWDWLRQ(QWHUSULVH)XQG,IVDLGSURSHUW\LVGHWHUPLQHGWREHRIQRYDOXHWKH0D\RUKDVWKHϮϳ Ϯϴ DXWKRULW\WRVFUDSRUGLVSRVHRIVDLGSURSHUW\IRUDQGRQEHKDOIRIWKH&LW\Ϯϵ ϯϬ $'237('7+,67+'$<2)$8*867ϯϭ ϯϮ ϯϯ ϯϰ %\ /RUD/HH%RRQH3UHVLGHQWϯϱ  3UDWWYLOOH&LW\&RXQFLOϯϲ ϯϳ $87+(17,&$7('7+,67+'$<2)$8*867ϯϴ ϯϵ ϰϬ ϰϭ %\ 3DXOD*%DUORZϰϮ  &LW\&OHUNϰϯ ϰϰ $33529('ϰϱ ϰϲ ϰϳ ϰϴ %\ %LOO*LOOHVSLH-Uϰϵ  0D\RUϱϬ ϱϭ ϱϮ ϱϯ ϱϰ ϱϱ ϱϲ ϱϳ ϱϴ ϱϵ ϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R$GRSWD7UDQVSRUWDWLRQ3ODQIRU)LVFDO<HDUDV5HTXLUHGE\$FWIRUWKHϯ 5HEXLOG$ODEDPD)XQG@ϰ ϱ ^6SRQVRUHG%\&RXQFLORU-DFNVRQ`ϲ ϳ :+(5($6$FWDOVRNQRZQDVWKH5HEXLOG$ODEDPD$FWZDVDGRSWHGE\WKHϴ ϵ $ODEDPD/HJLVODWXUHWROHY\DQDGGLWLRQDOWD[RQJDVROLQHDQGGLHVHOIXHODQGϭϬ ϭϭ :+(5($6WKH&LW\RI3UDWWYLOOHVKDOOUHFHLYHDSRUWLRQRIVDLGWD[DQGϭϮ ϭϯ :+(5($6$FWUHTXLUHVWKDWVDLGPRQLHVEHGHSRVLWHGLQWRDVHSDUDWHIXQGϭϰ ϭϱ PDLQWDLQHGE\WKHPXQLFLSDOLW\DQGH[SHQGHGIRUWKHPDLQWHQDQFHLPSURYHPHQWUHSODFHPHQWϭϲ ϭϳ DQGFRQVWUXFWLRQRIURDGVDQGEULGJHVDVPDQGDWHGE\WKH$FWDQGϭϴ ϭϵ :+(5($6$FWUHTXLUHVWKDWWKH&LW\DGRSWDQDQQXDO7UDQVSRUWDWLRQ3ODQQRϮϬ Ϯϭ ODWHUWKDQ$XJXVWVWIRUWKHQH[WILVFDO\HDUWREHDSSURYHGE\WKHPXQLFLSDOJRYHUQLQJERG\ϮϮ Ϯϯ DQGϮϰ Ϯϱ :+(5($6VDLG7UDQVSRUWDWLRQ3ODQVKDOOSURYLGHDGHWDLOHGOLVWRISURMHFWVIRUZKLFKϮϲ Ϯϳ H[SHQGLWXUHVDUHLQWHQGHGWREHPDGHLQWKHQH[WILVFDO\HDUDQGϮϴ Ϯϵ :+(5($6WKH&LW\RI3UDWWYLOOH7UDQVSRUWDWLRQ3ODQIRU)LVFDO<HDULQFOXGHVϯϬ ϯϭ UHVXUIDFLQJRIWKHIROORZLQJURDGVϯϮ ϯϯ x /RZHU.LQJVWRQ5RDGIURP WK6WUHHWWR%UHDNIDVW&UHHN5RDGϯϰ x 'RVWHU5RDGIURP)OHHWZRRG5RDGWR86+LJKZD\ϯϱ ϯϲ 12:7+(5()25(%(,75(62/9('WKDWWKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHϯϳ ϯϴ KHUHE\DGRSWVVDLG7UDQVSRUWDWLRQ3ODQIRU)LVFDO<HDUIRUWKHUHVXUIDFLQJRIVDLGURDGVϯϵ ϰϬ $'237('7+,67+'$<2)$8*867ϰϭ ϰϮ ϰϯ ϰϰ %\ /RUD/HH%RRQH3UHVLGHQWϰϱ  3UDWWYLOOH&LW\&RXQFLOϰϲ ϰϳ $87+(17,&$7('7+,67+'$<2)$8*867ϰϴ ϰϵ ϱϬ ϱϭ %\ 3DXOD*%DUORZϱϮ  &LW\&OHUNϱϯ ϱϰ $33529('ϱϱ ϱϲ ϱϳ ϱϴ %\ %LOO*LOOHVSLH-Uϱϵ 0D\RUϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R5DWLI\$IILUPDQG$XWKRUL]HWKH&LW\RI3UDWWYLOOHWR3DUWLFLSDWHLQWKH6WDWHDQG/RFDOϯ &\EHUVHFXULW\*UDQW3URJUDP 6/&*3 @ϰ ϱ ^6SRQVRUHG%\&RXQFLO3UHVLGHQW3UR7HPSRUH6WULFKLN`ϲ ϳ :+(5($6WKH&LW\RI3UDWWYLOOHLVFRQFHUQHGIRUDQGFRPPLWWHGWRPDQDJLQJDQGϴ ϵ UHGXFLQJF\EHUULVNDQGϭϬ ϭϭ :+(5($6WKH&LW\RI3UDWWYLOOHZDVFRQWDFWHGE\WKH$ODEDPD/HDJXHRI0XQLFLSDOLWLHVϭϮ ϭϯ DERXWWKHDYDLODELOLW\RIDJUDQWRSSRUWXQLW\WKURXJKWKH6/&*3DQGϭϰ ϭϱ :+(5($6DVXUYH\DQGFRQVHQWIRUPDUHUHTXLUHPHQWVIRUWKHJUDQWDSSOLFDWLRQDQGϭϲ ϭϳ :+(5($6WKHFRQVHQWIRUPDXWKRUL]HVWKH&LW\WRUHFHLYHIXQGLQJSXUVXDQWWRWKHϭϴ ϭϵ 6/&*3EXWGRHVQRWELQGWKH&LW\WRDQ\IXWXUHREOLJDWLRQVϮϬ Ϯϭ 12:7+(5()25(%(,75(62/9('WKDWWKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHϮϮ Ϯϯ KHUHE\UDWLILHVDQGDIILUPVWKHVXEPLVVLRQRIWKHDXWKRUL]HGFRQVHQWIRUPDQGVXUYH\WRWKHϮϰ Ϯϱ 6/&*3DQGVXSSRUWVWKHDSSOLFDWLRQIRUIXQGLQJXQGHUWKH)<6/&*3Ϯϲ Ϯϳ $'237('7+,67+'$<2)$8*867Ϯϴ Ϯϵ ϯϬ ϯϭ %\ /RUD/HH%RRQH3UHVLGHQWϯϮ  3UDWWYLOOH&LW\&RXQFLOϯϯ ϯϰ $87+(17,&$7('7+,67+'$<2)$8*867ϯϱ ϯϲ ϯϳ ϯϴ %\ 3DXOD*%DUORZϯϵ  &LW\&OHUNϰϬ ϰϭ $33529('ϰϮ ϰϯ ϰϰ ϰϱ %\ %LOO*LOOHVSLH-Uϰϲ 0D\RUϰϳ ϰϴ ϰϵ ϱϬ ϱϭ ϱϮ ϱϯ ϱϰ ϱϱ ϱϲ ϱϳ ϱϴ ϱϵ ϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R$XWKRUL]HWKH3XUFKDVHRI2QH  RU1HZHU¶(2QH/DGGHU7UXFNIURPWKHϯ +*$&%X\3XUFKDVLQJ&RRSHUDWLYH&RQWUDFW1XPEHU)6IURP6XQEHOW)LUH,QFIRUϰ WKH)LUH'HSDUWPHQWDWD&RVW1RWWR([FHHG@ϱ ϲ ^6SRQVRUHG%\&RXQFLO3UHVLGHQW3UR7HPSRUH6WULFKLN`ϳ ϴ  :+(5($6WKH&LW\RI3UDWWYLOOH)LUH'HSDUWPHQWKDVLGHQWLILHGDQHHGIRURQH  ϵ ϭϬ RUQHZHU¶(2QHODGGHUWUXFNDQGϭϭ ϭϮ :+(5($6VDLGODGGHUWUXFNLVDYDLODEOHWKURXJKWKH+*$&%X\3XUFKDVLQJϭϯ ϭϰ &RRSHUDWLYH&RQWUDFW1R)6IURP6XQEHOW)LUH,QFDWDFRVWQRWWRH[FHHGϭϱ ϭϲ DQGϭϳ ϭϴ :+(5($6WKHUHLVDQHVWLPDWHGOHDGWLPHRIWKLUW\  PRQWKVIRUDVVHPEO\DQGϭϵ ϮϬ GHOLYHU\RIVDLGODGGHUWUXFNWKXVUHTXLULQJDXWKRUL]DWLRQWRSXUFKDVHLQ)<DQGϮϭ ϮϮ :+(5($6WKLVSXUFKDVHZLOOEHIXQGHGLQWKH)LUH'HSDUWPHQW&DSLWDO2XWOD\OLQHLWHPϮϯ Ϯϰ RIWKH)<%XGJHWϮϱ Ϯϲ 12:7+(5()25(%(,75(62/9('WKDWWKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHϮϳ Ϯϴ KHUHE\DXWKRUL]HVWKHSXUFKDVHRIVDLGODGGHUWUXFNIURP6XQEHOW)LUH,QFDWDFRVWQRWWRϮϵ ϯϬ H[FHHGϯϭ ϯϮ $'237('7+,67+'$<2)$8*867ϯϯ ϯϰ ϯϱ ϯϲ %\ /RUD/HH%RRQH3UHVLGHQWϯϳ 3UDWWYLOOH&LW\&RXQFLOϯϴ ϯϵ $87+(17,&$7('7+,67+'$<2)$8*867ϰϬ ϰϭ ϰϮ ϰϯ %\ 3DXOD*%DUORZϰϰ &LW\&OHUNϰϱ ϰϲ $33529('ϰϳ ϰϴ ϰϵ ϱϬ %\ %LOO*LOOHVSLH-U ϱϭ 0D\RUϱϮ ϱϯ ϱϰ ϱϱ ϱϲ ϱϳ ϱϴ ϱϵ ϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R$PHQG)<%XGJHWDQG$XWKRUL]HWKH5HOHDVHRI)XQGVIRUWKH3XUFKDVHRI2QH  ϯ .HQZRUWK7*DUEDJH7UXFNWKURXJKWKH6RXUFHZHOO3XUFKDVLQJ&RRSHUDWLYHϰ &RQWUDFW1XPEHU7+&IURP,QJUDP(TXLSPHQW&RPSDQ\IRUWKH6DQLWDWLRQϱ 'HSDUWPHQWDWD&RVW1RWWR([FHHG@ϲ ϳ ^6SRQVRUHG%\&RXQFLORU&KDPEHUV`ϴ ϵ :+(5($6WKH&LW\RI3UDWWYLOOH6DQLWDWLRQ'HSDUWPHQWKDVLGHQWLILHGDQHHGWRϭϬ ϭϭ SXUFKDVHDRQH  .HQZRUWK7JDUEDJHWUXFNLQRUGHUWREHWWHUVHUYHWKHQHHGVRILWVϭϮ ϭϯ FXVWRPHUVDQGϭϰ ϭϱ  :+(5($6VDLGWUXFNLVDYDLODEOHWKURXJKWKH6RXUFHZHOO3XUFKDVLQJ&RRSHUDWLYHϭϲ ϭϳ &RQWUDFW1XPEHU7+&IURP,QJUDP(TXLSPHQW&RPSDQ\DWDFRVWQRWWRH[FHHGϭϴ ϭϵ ϮϬ Ϯϭ 12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHWKDWϮϮ Ϯϯ WKH)<%XGJHWLVKHUHE\DPHQGHGDVIROORZVϮϰ Ϯϱ 'HFUHDVH±6DQLWDWLRQ6DQLWDWLRQ2SHUDWLQJ)XQG&DVK Ϯϲ ,QFUHDVH±6DQLWDWLRQ5HYHQXHϮϳ ,QFUHDVH±6DQLWDWLRQ&DSLWDO2XWOD\   Ϯϴ Ϯϵ %(,7)857+(55(62/9('WKDWIXQGVLQDQDPRXQWQRWWRH[FHHGIRUϯϬ ϯϭ WKHSXUFKDVHRIRQH  .HQZRUWK7JDUEDJHWUXFNDUHKHUHE\DXWKRUL]HGDQGϯϮ ϯϯ DSSURYHGWREHSDLGWR,QJUDP(TXLSPHQW&RPSDQ\DQGVDLGIXQGVDUHDSSURYHGDQGϯϰ ϯϱ DSSURSULDWHGIURP)<%XGJHW/LQH,WHP6DQLWDWLRQ&DSLWDO2XWOD\ϯϲ ϯϳ %(,7)857+(55(62/9('WKDWWKH0D\RULVKHUHE\DXWKRUL]HGWRH[HFXWHDQ\DQGϯϴ ϯϵ DOOGRFXPHQWVQHFHVVDU\WRFDUU\RXWWKHLQWHQWRIWKLV5HVROXWLRQϰϬ ϰϭ $'237('7+,67+'$<2)$8*867ϰϮ ϰϯ ϰϰ ϰϱ %\ /RUD/HH%RRQH3UHVLGHQWϰϲ  3UDWWYLOOH&LW\&RXQFLOϰϳ ϰϴ $87+(17,&$7('7+,67+'$<2)$8*867ϰϵ ϱϬ ϱϭ ϱϮ %\ 3DXOD*%DUORZϱϯ  &LW\&OHUNϱϰ ϱϱ $33529('ϱϲ ϱϳ ϱϴ ϱϵ %\ %LOO*LOOHVSLH-UϲϬ  0D\RUϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R6HWD3XEOLF+HDULQJWR5H]RQH3URSHUW\/RFDWHG,QVLGHWKH&RUSRUDWH/LPLWV(DVWRIϯ %ULGJH&UHHN5RDGDQG:HVWRI3DUNYLHZ'ULYHIURP)$5 )RUHVW$JULFXOWXUH5HFUHDWLRQ WRϰ 5 6LQJOH)DPLO\5HVLGHQWLDO  3HWLWLRQHU*RRGZ\Q%XLOGLQJ&RPSDQ\,QF ϱ 5HSUHVHQWDWLYH/DUU\(6SHDNVDQG$VVRFLDWHV  2ZQHU)UDQFHV&DUWHU(VWDWH @ϲ ϳ ^6SRQVRUHG%\&RXQFLORU6WULSOLQ`ϴ ϵ :+(5($6*RRGZ\Q%XLOGLQJ&RPSDQ\,QFLVWKHSHWLWLRQHURIWKHSURSHUW\GHVFULEHGϭϬ ϭϭ LQ$WWDFKPHQW³$´DQGϭϮ ϭϯ  :+(5($6VDLGSURSHUW\WREHUH]RQHGLVORFDWHGLQVLGHWKH&RUSRUDWH/LPLWV(DVWRIϭϰ ϭϱ %ULGJH&UHHN5RDGDQG:HVWRI3DUNYLHZ'ULYHDQGϭϲ ϭϳ :+(5($6WKHSHWLWLRQHUZLVKHVWRUH]RQHWKHDSSUR[LPDWHO\DFUHSURSHUW\IURPϭϴ ϭϵ )$5WR5DQGϮϬ Ϯϭ :+(5($6D3XEOLF+HDULQJRQWKHSURSRVHGUH]RQLQJZDVKHOGE\WKH&LW\RI3UDWWYLOOHϮϮ Ϯϯ 3ODQQLQJ&RPPLVVLRQRQ0D\DQGϮϰ Ϯϱ :+(5($6WKH3ODQQLQJ&RPPLVVLRQGLGUHFRPPHQGWKH]RQLQJRIVDLGSURSHUW\DVϮϲ Ϯϳ GHVFULEHGLQ$WWDFKPHQW³$´EHDPHQGHGIURP)$5WR5Ϯϴ Ϯϵ 12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHWKDWϯϬ ϯϭ D3XEOLF+HDULQJLVVHWIRU6HSWHPEHUDWSPDW3UDWWYLOOH&LW\+DOOϯϮ ϯϯ 6723$1'927(72$'2377+(5(62/87,217+(15($'7+(25',1$1&(21ϯϰ 7+(1(;73$*(ϯϱ ϯϲ ϯϳ ϯϴ ϯϵ ϰϬ ϰϭ ϰϮ ϰϯ ϰϰ ϰϱ ϰϲ ϰϳ ϰϴ ϰϵ ϱϬ 352326('25',1$1&(ϱϭ ϱϮ 3XUVXDQWWRWKHUHTXLUHPHQWVRI7LWOHCode of AlabamaDVDPHQGHG1RWLFHϱϯ ϱϰ LVKHUHE\JLYHQE\WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOH$ODEDPDWKDWDWWKHUHJXODUPHHWLQJϱϱ ϱϲ RIVDLG&LW\&RXQFLORQ$XJXVWDW3UDWWYLOOH&LW\+DOO:HVW0DLQ6WUHHW3UDWWYLOOHϱϳ ϱϴ $ODEDPDWKHIROORZLQJSURSRVHGRUGLQDQFHZDVLQWURGXFHGϱϵ ϲϬ ϲϭ ϲϮ 3DXOD*%DUORZϲϯ &LW\&OHUNϲϰ   25',1$1&(ϭ Ϯ %(,725'$,1('E\WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOH$ODEDPDDVIROORZVϯ ϰ 7+$7WKH]RQLQJRUGLQDQFHRIWKH&LW\RI3UDWWYLOOH$ODEDPDDQGWKH]RQLQJPDSDUHϱ ϲ KHUHE\DPHQGHGWRUHFODVVLI\WKHSURSHUW\GHVFULEHGLQ$WWDFKPHQW³$´IURP)$5WR5DQGϳ ϴ 7+$7WKLVSURSRVHG2UGLQDQFHDQGDV\QRSVLVZHUHDGYHUWLVHGIRUWZR  ZHHNVLQWKHϵ ϭϬ Montgomery AdvertiserDQHZVSDSHURIJHQHUDOFLUFXODWLRQZLWKLQWKH&RUSRUDWH/LPLWVRIWKHϭϭ ϭϮ &LW\RI3UDWWYLOOHDQGWKDWWKH&LW\&RXQFLODWLWV3XEOLF+HDULQJRQ6HSWHPEHUDWϭϯ ϭϰ SPFRQVLGHUHGVDLGSURSRVHG2UGLQDQFHDQGWKDWDWVXFKWLPHDQGSODFHDOOSHUVRQVZKRϭϱ ϭϲ GHVLUHGKDGDQRSSRUWXQLW\WREHKHDUGLQIDYRURIRULQRSSRVLWLRQWRVXFK2UGLQDQFHϭϳ ϭϴ $//RWKHULWHPVDQGSURYLVLRQVRIWKH]RQLQJRUGLQDQFHQRWKHUHLQVSHFLILFDOO\DPHQGHGϭϵ ϮϬ VKDOOUHPDLQLQIXOOIRUFHDQGHIIHFWϮϭ ϮϮ 7+(DPHQGPHQWVKHUHLQFRQWDLQHGZHUHFRQVLGHUHGDQGUHFRPPHQGHGE\WKH&LW\RIϮϯ Ϯϰ 3UDWWYLOOH3ODQQLQJ&RPPLVVLRQRQ0D\Ϯϱ Ϯϲ 7+,62UGLQDQFHVKDOOEHFRPHHIIHFWLYHXSRQLWVSDVVDJHDQGH[HFXWLRQDVSURYLGHGE\Ϯϳ Ϯϴ ODZϮϵ ϯϬ $'237('7+,67+'$<2)$8*867ϯϭ ϯϮ ϯϯ ϯϰ %\ /RUD/HH%RRQH3UHVLGHQWϯϱ 3UDWWYLOOH&LW\&RXQFLOϯϲ ϯϳ $87+(17,&$7('7+,67+'$<2)$8*867ϯϴ ϯϵ ϰϬ ϰϭ %\ 3DXOD*%DUORZϰϮ  &LW\&OHUNϰϯ ϰϰ $33529('ϰϱ ϰϲ ϰϳ ϰϴ %\ %LOO*LOOHVSLH-U ϰϵ 0D\RUϱϬ ϱϭ ϱϮ ϱϯ ϱϰ ϱϱ ϱϲ ϱϳ ϱϴ ϱϵ ϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R$XWKRUL]HWKH&LW\RI3UDWWYLOOHWR(QWHULQWRD&RQVWUXFWLRQ$JUHHPHQWZLWKWKH6WDWHRIϯ $ODEDPD$FWLQJE\DQGWKURXJKWKH$ODEDPD'HSDUWPHQWRI7UDQVSRUWDWLRQ $/'27 IRUϰ $/'273URMHFW1R67301  &3065HIIRUWKH5HVXUIDFLQJRQϱ /RZHU.LQJVWRQ5RDGIURPWK6WUHHWWR%UHDNIDVW&UHHN5RDGDWD7RWDO&RVW1RWWR([FHHGϲ  1HW&RVWWR&LW\1RWWR([FHHG @ϳ ϴ ^6SRQVRUHG%\&RXQFLORU-DFNVRQ`ϵ ϭϬ :+(5($6WUDQVSRUWDWLRQIXQGVDUHDYDLODEOHWRWKH&LW\RI3UDWWYLOOHDQGϭϭ ϭϮ :+(5($6WKH'LUHFWRURI$/'27LVDXWKRUL]HGWRVXEDOORFDWHIHGHUDOWUDQVSRUWDWLRQϭϯ ϭϰ IXQGVWRWKH&LW\DQGϭϱ ϭϲ :+(5($6IXQGVKDYHEHHQDOORFDWHGIRU$/'273URMHFW1XPEHU67301  ϭϳ ϭϴ &3065HIIRUWKHUHVXUIDFLQJRQ/RZHU.LQJVWRQ5RDGIURPWK6WUHHWWRϭϵ ϮϬ %UHDNIDVW&UHHN5RDGDQGϮϭ ϮϮ :+(5($6WKH6WDWHDQG&LW\GHVLUHWRHQWHULQWRDFRQVWUXFWLRQDJUHHPHQWIRUVDLGϮϯ Ϯϰ SURMHFWDWDWRWDOFRVWQRWWRH[FHHG QHWFRVWWR&LW\QRWWRH[FHHG Ϯϱ Ϯϲ DQGϮϳ Ϯϴ :+(5($6WKLVLVDEXGJHWHGH[SHQVHLQWKH*DV7D[)XQGϮϵ ϯϬ 12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHϯϭ ϯϮ WKDWWKH&LW\RI3UDWWYLOOHHQWHULQWRVDLGDJUHHPHQWZLWKWKH6WDWHRI$ODEDPDDFWLQJE\DQGϯϯ ϯϰ WKURXJKWKH$ODEDPD'HSDUWPHQWRI7UDQVSRUWDWLRQUHODWLQJWRWKHUHVXUIDFLQJRQ/RZHUϯϱ ϯϲ .LQJVWRQ5RDGIURPWK6WUHHWWR%UHDNIDVW&UHHN5RDG$/'273URMHFW1XPEHU67301ϯϳ ϯϴ   &3065HIϯϵ ϰϬ %(,7)857+(55(62/9('WKDWVDLGDJUHHPHQWEHH[HFXWHGLQWKHQDPHRIWKH&LW\ϰϭ ϰϮ E\WKH0D\RUIRUDQGRQLWVEHKDOIDQGWKDWLWEHDWWHVWHGE\WKH&LW\&OHUNDQGWKHRIILFLDOVHDOϰϯ ϰϰ RIWKH&LW\EHDIIL[HGWKHUHWRϰϱ ϰϲ %(,7)857+(55(62/9('WKDWIXQGVLQWKHDPRXQWQRWWRH[FHHGϰϳ ϰϴ DUHKHUHE\DXWKRUL]HGDQGDSSURYHGWREHSDLGIRUVDLGFRQVWUXFWLRQSURMHFWDQGVDLGIXQGVϰϵ ϱϬ DUHKHUHE\DSSURYHGDQGDSSURSULDWHGIURPWKH)<%XGJHW/LQH,WHP*DV7D[)XQGϱϭ ϱϮ /RZHU.LQJVWRQ3DYLQJϱϯ ϱϰ %(,7)857+(55(62/9('WKDWXSRQFRPSOHWLRQRIWKHH[HFXWLRQRIVDLGϱϱ ϱϲ DJUHHPHQWE\DOOSDUWLHVWKDWDFRS\RIVXFKDJUHHPHQWEHNHSWRQILOHE\WKH&LW\&OHUNϱϳ ϱϴ $'237('7+,67+'$<2)$8*867ϱϵ ϲϬ ϲϭ ϲϮ %\ /RUD/HH%RRQHϲϯ  3UDWWYLOOH&LW\&RXQFLOϲϰ   $87+(17,&$7('7+,67+'$<2)$8*867ϭ Ϯ ϯ ϰ %\ 3DXOD*%DUORZϱ  &LW\&OHUNϲ ϳ $33529('ϴ ϵ ϭϬ ϭϭ %\%LOO*LOOHVSLH-UϭϮ 0D\RUϭϯ ϭϰ ϭϱ ϭϲ ϭϳ ϭϴ ϭϵ ϮϬ Ϯϭ ϮϮ Ϯϯ Ϯϰ Ϯϱ Ϯϲ Ϯϳ Ϯϴ Ϯϵ ϯϬ ϯϭ ϯϮ ϯϯ ϯϰ ϯϱ ϯϲ ϯϳ ϯϴ ϯϵ ϰϬ ϰϭ ϰϮ ϰϯ ϰϰ ϰϱ ϰϲ ϰϳ ϰϴ ϰϵ ϱϬ ϱϭ ϱϮ ϱϯ ϱϰ ϱϱ ϱϲ ϱϳ ϱϴ ϱϵ ϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R$XWKRUL]HWKH5HOHDVHRI)XQGVWR3HUIRUP6HZHU5HSDLUV$ORQJ0RQFULHI6WUHHWWRϯ 0XUSK\([FDYDWLRQ//&IRUWKH:DVWHZDWHU'LYLVLRQRIWKH3XEOLF:RUNV'HSDUWPHQWDWDϰ &RVW1RWWR([FHHG@ϱ ϲ ^6SRQVRUHG%\&RXQFLORU6WULSOLQ`ϳ ϴ :+(5($6WKH&LW\RI3UDWWYLOOH:DVWHZDWHU'LYLVLRQRIWKH3XEOLF:RUNV'HSDUWPHQWϵ ϭϬ KDVLGHQWLILHGDQHHGWRFRPSOHWHVHZHUUHSDLUVDORQJ0RQFULHI6WUHHWDQGϭϭ ϭϮ :+(5($6VDLGUHSDLUVWKDWLQFOXGHODERUHTXLSPHQWDQGPDWHULDOVDUHDYDLODEOHIURPϭϯ ϭϰ 0XUSK\([FDYDWLRQ//&DWDFRVWQRWWRH[FHHGDQGϭϱ ϭϲ :+(5($6SXUVXDQWWR†Code of AlabamaDVDPHQGHGVDLGUHSDLUVϭϳ ϭϴ FRQVWLWXWHDSXEOLFZRUNVSURMHFWDQGϭϵ ϮϬ :+(5($6† E  Code of AlabamaDVDPHQGHGDOORZVFRQWUDFWVIRUϮϭ ϮϮ SXEOLFZRUNVSURMHFWVXQGHUWREHOHWZLWKRXWDGYHUWLVLQJRUVHDOHGELGVDQGϮϯ Ϯϰ  :+(5($6WKLVLVDEXGJHWHGH[SHQVHIURPWKH:DVWHZDWHU(QWHUSULVH)XQGϮϱ Ϯϲ  12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHWKDWϮϳ Ϯϴ IXQGVLQDQDPRXQWQRWWRH[FHHGDUHKHUHE\DXWKRUL]HGDQGDSSURYHGWREHSDLGϮϵ ϯϬ WR0XUSK\([FDYDWLRQ//&IRUVDLGUHSDLUVDQGVDLGIXQGVDUHKHUHE\DSSURYHGDQGϯϭ ϯϮ DSSURSULDWHGIURPWKH)<%XGJHW/LQH,WHP:DVWHZDWHU6WUHHW6HZHU/LQHϯϯ ϯϰ $'237('7+,67+'$<2)$8*867ϯϱ ϯϲ ϯϳ ϯϴ %\ /RUD/HH%RRQH3UHVLGHQWϯϵ  3UDWWYLOOH&LW\&RXQFLOϰϬ ϰϭ $87+(17,&$7('7+,67+'$<2)$8*867ϰϮ ϰϯ ϰϰ ϰϱ %\ 3DXOD*%DUORZϰϲ  &LW\&OHUNϰϳ ϰϴ $33529('ϰϵ ϱϬ ϱϭ ϱϮ %\ %LOO*LOOHVSLH-Uϱϯ  0D\RUϱϰ ϱϱ ϱϲ ϱϳ ϱϴ ϱϵ ϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R$ZDUG%LG1RWR0XUSK\([FDYDWLRQ//&IRU3DUNLQJ/RW,PSURYHPHQWVIRUWKHϯ 6DQLWDWLRQDQG3XEOLF:RUNV'HSDUWPHQWVDWD&RVW1RWWR([FHHG@ϰ ϱ ^6SRQVRUHG%\&RXQFLORU0HUULFN`ϲ ϳ :+(5($6WKH&LW\RI3UDWWYLOOHKDVLGHQWLILHGDQHHGIRUSDUNLQJORWLPSURYHPHQWVIRUϴ ϵ WKH6DQLWDWLRQDQG3XEOLF:RUNV'HSDUWPHQWVDQGϭϬ ϭϭ :+(5($6VSHFLILFDWLRQVZHUHGUDIWHGIRUVDLGSURMHFWDQGϭϮ ϭϯ  :+(5($6VL[  VHDOHGELGVZHUHUHFHLYHGRSHQHGDQGUHDGLQSXEOLFRQ$XJXVWϭϰ ϭϱ DWSPLQWKH&RXQFLO&KDPEHUVDW3UDWWYLOOH&LW\+DOODQG0XUSK\([FDYDWLRQϭϲ ϭϳ //&ZDVWKHORZHVWUHVSRQVLEOHELGGHUDWDFRVWRIIRUVDLGLPSURYHPHQWSURMHFWϭϴ ϭϵ DQGϮϬ Ϯϭ  :+(5($6WKLVDEXGJHWHGH[SHQVHIRUWKH3XEOLF:RUNV'HSDUWPHQWϮϮ Ϯϯ 12:7+(5()25(%(,75(62/9('WKDWWKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHϮϰ Ϯϱ KHUHE\DZDUGV%LG1RWR0XUSK\([FDYDWLRQ//&DWDFRVWQRWWRH[FHHGϮϲ Ϯϳ IRUVDLGSDUNLQJORWLPSURYHPHQWSURMHFWDQGVDLGIXQGVDUHDSSURYHGDQGϮϴ Ϯϵ DSSURSULDWHGIURP)<%XGJHW/LQH,WHP3XEOLF:RUNV&DSLWDO2XWOD\ϯϬ ϯϭ  %(,7)857+(55(62/9('WKDWWKH0D\RULVKHUHE\DXWKRUL]HGWRH[HFXWHDQ\DQGϯϮ ϯϯ DOOGRFXPHQWVQHFHVVDU\WRFDUU\RXWWKHLQWHQWRIWKLV5HVROXWLRQϯϰ ϯϱ $'237('7+,67+'$<2)$8*867ϯϲ ϯϳ ϯϴ ϯϵ %\ /RUD/HH%RRQH3UHVLGHQWϰϬ  3UDWWYLOOH&LW\&RXQFLOϰϭ ϰϮ $87+(17,&$7('7+,67+'$<2)$8*867ϰϯ ϰϰ ϰϱ ϰϲ %\ 3DXOD*%DUORZϰϳ  &LW\&OHUNϰϴ ϰϵ $33529('ϱϬ ϱϭ ϱϮ ϱϯ %\ %LOO*LOOHVSLH-Uϱϰ 0D\RUϱϱ ϱϲ ϱϳ ϱϴ ϱϵ ϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R$XWKRUL]HWKH5HOHDVHRI)XQGVWR3HUIRUP6HZHU5HSDLUV$ORQJ:DVKLQJWRQ)HUU\5RDGϯ WR0XUSK\([FDYDWLRQ//&IRUWKH:DVWHZDWHU'LYLVLRQRIWKH3XEOLF:RUNV'HSDUWPHQWDWDϰ &RVW1RWWR([FHHG@ϱ ϲ ^6SRQVRUHG%\&RXQFLORU6WULSOLQ`ϳ ϴ :+(5($6WKH&LW\RI3UDWWYLOOH:DVWHZDWHU'LYLVLRQRIWKH3XEOLF:RUNV'HSDUWPHQWϵ ϭϬ KDVLGHQWLILHGDQHHGWRFRPSOHWHVHZHUUHSDLUVDORQJ:DVKLQJWRQ)HUU\5RDGDQGϭϭ ϭϮ :+(5($6VDLGUHSDLUVWKDWLQFOXGHODERUHTXLSPHQWDQGPDWHULDOVDUHDYDLODEOHIURPϭϯ ϭϰ 0XUSK\([FDYDWLRQ//&DWDFRVWQRWWRH[FHHGDQGϭϱ ϭϲ :+(5($6SXUVXDQWWR†Code of AlabamaDVDPHQGHGVDLGUHSDLUVϭϳ ϭϴ FRQVWLWXWHDSXEOLFZRUNVSURMHFWDQGϭϵ ϮϬ :+(5($6† E  Code of AlabamaDVDPHQGHGDOORZVFRQWUDFWVIRUϮϭ ϮϮ SXEOLFZRUNVSURMHFWVXQGHUWREHOHWZLWKRXWDGYHUWLVLQJRUVHDOHGELGVDQGϮϯ Ϯϰ  :+(5($6WKLVLVDEXGJHWHGH[SHQVHIURPWKH:DVWHZDWHU(QWHUSULVH)XQGϮϱ Ϯϲ  12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHWKDWϮϳ Ϯϴ IXQGVLQDQDPRXQWQRWWRH[FHHGDUHKHUHE\DXWKRUL]HGDQGDSSURYHGWREHSDLGϮϵ ϯϬ WR0XUSK\([FDYDWLRQ//&IRUVDLGUHSDLUVDQGVDLGIXQGVDUHKHUHE\DSSURYHGDQGϯϭ ϯϮ DSSURSULDWHGIURPWKH)<%XGJHW/LQH,WHP:DVWHZDWHU6WUHHW6HZHU/LQHϯϯ ϯϰ $'237('7+,67+'$<2)$8*867ϯϱ ϯϲ ϯϳ ϯϴ %\ /RUD/HH%RRQH3UHVLGHQWϯϵ  3UDWWYLOOH&LW\&RXQFLOϰϬ ϰϭ $87+(17,&$7('7+,67+'$<2)$8*867ϰϮ ϰϯ ϰϰ ϰϱ %\ 3DXOD*%DUORZϰϲ  &LW\&OHUNϰϳ ϰϴ $33529('ϰϵ ϱϬ ϱϭ ϱϮ %\ %LOO*LOOHVSLH-Uϱϯ  0D\RUϱϰ ϱϱ ϱϲ ϱϳ ϱϴ ϱϵ ϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R$XWKRUL]HWKH&LW\RI3UDWWYLOOHWR(QWHULQWRD&RQVWUXFWLRQ$JUHHPHQWZLWKWKH6WDWHRIϯ $ODEDPD$FWLQJE\DQGWKURXJKWKH$ODEDPD'HSDUWPHQWRI7UDQVSRUWDWLRQ $/'27 IRUϰ $/'273URMHFW1R67301  &3065HIIRUWKH5HVXUIDFLQJRQϱ 'RVWHU5RDGIURP)OHHWZRRG5RDGWR65 86 DWD7RWDO&RVW1RWWR([FHHGϲ  1HW&RVWWR&LW\1RWWR([FHHG @ϳ ϴ ^6SRQVRUHG%\&RXQFLORU-DFNVRQ`ϵ ϭϬ :+(5($6WUDQVSRUWDWLRQIXQGVDUHDYDLODEOHWRWKH&LW\RI3UDWWYLOOHDQGϭϭ ϭϮ :+(5($6WKH'LUHFWRURI$/'27LVDXWKRUL]HGWRVXEDOORFDWHIHGHUDOWUDQVSRUWDWLRQϭϯ ϭϰ IXQGVWRWKH&LW\DQGϭϱ ϭϲ :+(5($6IXQGVKDYHEHHQDOORFDWHGIRU$/'273URMHFW1R67301  ϭϳ ϭϴ &3065HIIRUWKHUHVXUIDFLQJRQ'RVWHU5RDGIURP)OHHWZRRG5RDGWR65ϭϵ ϮϬ 86 DQGϮϭ ϮϮ :+(5($6WKH6WDWHDQG&LW\GHVLUHWRHQWHULQWRDFRQVWUXFWLRQDJUHHPHQWIRUVDLGϮϯ Ϯϰ SURMHFWDWDWRWDOFRVWQRWWRH[FHHG QHWFRVWWR&LW\QRWWRH[FHHG Ϯϱ Ϯϲ DQGϮϳ Ϯϴ :+(5($6WKLVLVDEXGJHWHGH[SHQVHLQWKH*DV7D[)XQGϮϵ ϯϬ 12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHϯϭ ϯϮ WKDWWKH&LW\RI3UDWWYLOOHHQWHULQWRVDLGDJUHHPHQWZLWKWKH6WDWHRI$ODEDPDDFWLQJE\DQGϯϯ ϯϰ WKURXJKWKH$ODEDPD'HSDUWPHQWRI7UDQVSRUWDWLRQUHODWLQJWRWKHUHVXUIDFLQJRQ'RVWHU5RDGϯϱ ϯϲ IURP)OHHWZRRG5RDGWR65 86 $/'273URMHFW1XPEHU67301  &306ϯϳ ϯϴ 5HIϯϵ ϰϬ %(,7)857+(55(62/9('WKDWVDLGDJUHHPHQWEHH[HFXWHGLQWKHQDPHRIWKH&LW\ϰϭ ϰϮ E\WKH0D\RUIRUDQGRQLWVEHKDOIDQGWKDWLWEHDWWHVWHGE\WKH&LW\&OHUNDQGWKHRIILFLDOVHDOϰϯ ϰϰ RIWKH&LW\EHDIIL[HGWKHUHWRϰϱ ϰϲ %(,7)857+(55(62/9('WKDWIXQGVLQWKHDPRXQWQRWWRH[FHHGϰϳ ϰϴ DUHKHUHE\DXWKRUL]HGDQGDSSURYHGWREHSDLGIRUVDLGFRQVWUXFWLRQSURMHFWDQGVDLGIXQGVϰϵ ϱϬ DUHKHUHE\DSSURYHGDQGDSSURSULDWHGIURPWKH)<%XGJHW/LQH,WHP*DV7D[)XQGϱϭ ϱϮ 'RVWHU5RDG3DYLQJϱϯ ϱϰ %(,7)857+(55(62/9('WKDWXSRQFRPSOHWLRQRIWKHH[HFXWLRQRIVDLGϱϱ ϱϲ DJUHHPHQWE\DOOSDUWLHVWKDWDFRS\RIVXFKDJUHHPHQWEHNHSWRQILOHE\WKH&LW\&OHUNϱϳ ϱϴ $'237('7+,67+'$<2)$8*867ϱϵ ϲϬ ϲϭ ϲϮ %\ /RUD/HH%RRQHϲϯ  3UDWWYLOOH&LW\&RXQFLOϲϰ   $87+(17,&$7('7+,67+'$<2)$8*867ϭ Ϯ ϯ ϰ ϱ %\ 3DXOD*%DUORZϲ  &LW\&OHUNϳ ϴ $33529('ϵ ϭϬ ϭϭ ϭϮ %\%LOO*LOOHVSLH-Uϭϯ 0D\RUϭϰ ϭϱ ϭϲ ϭϳ ϭϴ ϭϵ ϮϬ Ϯϭ ϮϮ Ϯϯ Ϯϰ Ϯϱ Ϯϲ Ϯϳ Ϯϴ Ϯϵ ϯϬ ϯϭ ϯϮ ϯϯ ϯϰ ϯϱ ϯϲ ϯϳ ϯϴ ϯϵ ϰϬ ϰϭ ϰϮ ϰϯ ϰϰ ϰϱ ϰϲ ϰϳ ϰϴ ϰϵ ϱϬ ϱϭ ϱϮ ϱϯ ϱϰ ϱϱ ϱϲ ϱϳ ϱϴ ϱϵ ϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R$XWKRUL]HWKH5HOHDVHRI)XQGVIRUWKH3XUFKDVHRI)RXU  $6$OO:HDWKHUϯ 6DPSOHUVIURP+$&+IRUWKH:DVWHZDWHU'LYLVLRQRIWKH3XEOLF:RUNV'HSDUWPHQWDWD&RVWϰ 1RWWR([FHHG@ϱ ϲ ^6SRQVRUHG%\&RXQFLORU6WULSOLQ`ϳ ϴ :+(5($6WKH&LW\RI3UDWWYLOOH:DVWHZDWHU'LYLVLRQRIWKH3XEOLF:RUNV'HSDUWPHQWϵ ϭϬ KDVLGHQWLILHGDQHHGWRSXUFKDVHIRXU  $6DOOZHDWKHUVDPSOHUVDQGϭϭ ϭϮ :+(5($6VDLGVDPSOHUVDUHDYDLODEOHIURP+$&+DWDFRVWQRWWRH[FHHGϭϯ ϭϰ DQGϭϱ ϭϲ  :+(5($6† E  Code of AlabamaDVDPHQGHGDOORZVIRUSXUFKDVHϭϳ ϭϴ RIHTXLSPHQWXVHGLQWKHRSHUDWLRQRIPXQLFLSDOVDQLWDWLRQV\VWHPVWREHOHWZLWKRXWFRPSHWLWLYHϭϵ ϮϬ ELGGLQJDQGϮϭ ϮϮ :+(5($6WKLVLVDEXGJHWHGH[SHQVHIURPWKH:DVWHZDWHU(QWHUSULVH)XQGϮϯ Ϯϰ 12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHWKDWϮϱ Ϯϲ IXQGVLQDQDPRXQWQRWWRH[FHHGDUHKHUHE\DXWKRUL]HGDQGDSSURYHGWREHSDLGϮϳ Ϯϴ WR+$&+IRUVDLGVDPSOHUVDQGVDLGIXQGVDUHKHUHE\DSSURYHGDQGDSSURSULDWHGIURPWKHϮϵ ϯϬ )<%XGJHW/LQH,WHP:DVWHZDWHU(TXLSPHQW0DLQWHQDQFHϯϭ ϯϮ $'237('7+,67+'$<2)$8*867ϯϯ ϯϰ ϯϱ BBBBBBBBBBBBBBBBBBBBBBBBBBBBϯϲ %\ /RUD/HH%RRQH3UHVLGHQWϯϳ 3UDWWYLOOH&LW\&RXQFLOϯϴ ϯϵ $87+(17,&$7('7+,67+'$<2)$8*867ϰϬ ϰϭ ϰϮ BBBBBBBBBBBBBBBBBBBBBBBBBBBBϰϯ %\ 3DXOD*%DUORZϰϰ  &LW\&OHUNϰϱ ϰϲ $33529('ϰϳ ϰϴ ϰϵ BBBBBBBBBBBBBBBBBBBBBBBBBBBBϱϬ %\ %LOO*LOOHVSLH-Uϱϭ  0D\RUϱϮ ϱϯ ϱϰ ϱϱ ϱϲ ϱϳ ϱϴ ϱϵ ϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(BBBBBϲϰ   5(62/87,21ϭ Ϯ >7R$XWKRUL]HWKH0D\RUWR(QWHULQWRDQ$JUHHPHQWZLWK6DIH+DYHQ%DE\%R[HV 6+%% ϯ DQG.LGVWR/RYH)RXQGDWLRQIRUWKH3ODFHPHQWD6DIHW\'HYLFHDW)LUH6WDWLRQORFDWHGDWϰ 2OG5LGJH5RDG3UDWWYLOOH$/@ϱ ϲ ^6SRQVRUHG%\&RXQFLO3UHVLGHQW%RRQH`ϳ ϴ :+(5($66+%%LVDQRQSURILWHGXFDWLRQDORUJDQL]DWLRQWKDWSURYLGHVLQIRUPDWLRQϵ ϭϬ DQGVHUYLFHVUHODWHGWRFKLOGZHOIDUHVDIHKDYHQODZVLQLWLDWLRQDQGLPSOHPHQWDWLRQRIϭϭ ϭϮ QHZERUQVDIHW\GHYLFHV ³6DIHW\'HYLFH´ DQGDZDUHQHVVUHODWHGWRSUHYHQWLQJFKLOGϭϯ ϭϰ DEDQGRQPHQWDQGϭϱ ϭϲ :+(5($6†et alCode of AlabamaDVDPHQGHG WKH³6DIH+DYHQϭϳ ϭϴ /DZV´ SURYLGHVFHUWDLQSURWHFWLRQVWRHPHUJHQF\PHGLFDOVHUYLFHSURYLGHUVWKDWLQVWDOODϭϵ ϮϬ QHZERUQVDIHW\GHYLFH WKH³6DIHW\'HYLFH´ DQGϮϭ ϮϮ :+(5($66+%%LVDJUHHDEOHWRSODFLQJD6DIHW\'HYLFHRQWKH&LW\¶VSUHVFULEHGϮϯ Ϯϰ SURSHUW\DQGXQGHUWDNLQJFHUWDLQVHUYLFHVLQUHODWLRQWKHUHWRDQGϮϱ Ϯϲ :+(5($6.LGVWR/RYH)RXQGDWLRQKDVSDUWQHUHGZLWK6+%%WRSXUFKDVHDQGLQVWDOOϮϳ Ϯϴ 6DIHW\'HYLFHVDQGϮϵ ϯϬ :+(5($6.LGVWR/RYH)RXQGDWLRQKDVDJUHHGWRSD\IRUWKH6DIHW\'HYLFHDQGϯϭ ϯϮ LQVWDOODWLRQDWDFRVWXSWRDQGϯϯ ϯϰ :+(5($6WKH&LW\RI3UDWWYLOOHGHVLUHVWRLQVWDOOD6DIHW\'HYLFHDW)LUH6WDWLRQϯϱ ϯϲ ORFDWHGDW2OG5LGJH5RDGSUHPLVHVSXUVXDQWWRWKH6DIH+DYHQ/DZVDQGLQVXSSRUWRIϯϳ ϯϴ WKHKHDOWKVDIHW\DQGZHOIDUHRIWKHFLWL]HQVRI3UDWWYLOOHϯϵ ϰϬ 12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHϰϭ ϰϮ WKDWWKH0D\RULVKHUHE\DXWKRUL]HGWRHQWHULQWRVDLGDJUHHPHQWZLWK6DIH+DYHQ%DE\ϰϯ ϰϰ %R[HVDQG.LGVWR/RYH)RXQGDWLRQIRUWKHSODFHPHQWRIVDLG6DIHW\'HYLFHϰϱ ϰϲ %(,7)857+(55(62/9('WKDWWKH0D\RULVKHUHE\DXWKRUL]HGWRH[HFXWHDQ\DQGϰϳ ϰϴ DOOGRFXPHQWVQHFHVVDU\WRFDUU\RXWWKHLQWHQWRIWKLV5HVROXWLRQϰϵ ϱϬ $'237('7+,67+'$<2)$8*867ϱϭ ϱϮ ϱϯ ϱϰ %\ /RUD/HH%RRQH3UHVLGHQWϱϱ  3UDWWYLOOH&LW\&RXQFLOϱϲ ϱϳ $87+(17,&$7('7+,67+'$<2)$8*867ϱϴ ϱϵ ϲϬ ϲϭ %\ 3DXOD*%DUORZϲϮ  &LW\&OHUNϲϯ ϲϰ   $33529('ϭ Ϯ ϯ ϰ %\ %LOO*LOOHVSLH-Uϱ  0D\RUϲ ϳ ϴ ϵ ϭϬ ϭϭ ϭϮ ϭϯ ϭϰ ϭϱ ϭϲ ϭϳ ϭϴ ϭϵ ϮϬ Ϯϭ ϮϮ Ϯϯ Ϯϰ Ϯϱ Ϯϲ Ϯϳ Ϯϴ Ϯϵ ϯϬ ϯϭ ϯϮ ϯϯ ϯϰ ϯϱ ϯϲ ϯϳ ϯϴ ϯϵ ϰϬ ϰϭ ϰϮ ϰϯ ϰϰ ϰϱ ϰϲ ϰϳ ϰϴ ϰϵ ϱϬ ϱϭ ϱϮ ϱϯ ϱϰ ϱϱ ϱϲ ϱϳ ϱϴ ϱϵ ϲϬ ϲϭ ϲϮ ϲϯ 5(62/87,21%22.$3$*(  ϲϰ   5(62/87,21ϭ Ϯ >7R$PHQGWKH%XGJHWDQG$XWKRUL]HWKH5HOHDVHRI)XQGVIRUWKH3XUFKDVHRI2QH  ϯ )RUG)[WKURXJKWKH6RXUFHZHOO3XUFKDVLQJ&RRSHUDWLYH&RQWUDFW1XPEHUϰ 1$)IURP,QJUDP(TXLSPHQW&RPSDQ\IRUWKH:DVWHZDWHU'LYLVLRQRIWKH3XEOLF:RUNVϱ 'HSDUWPHQWDWD&RVW1RWWR([FHHG@ϲ ϳ ^6SRQVRUHG%\&RXQFLORU6WULSOLQ`ϴ ϵ :+(5($6WKH&LW\RI3UDWWYLOOH:DVWHZDWHU'LYLVLRQRIWKH3XEOLF:RUNV'HSDUWPHQWϭϬ ϭϭ KDVLGHQWLILHGDQHHGWRSXUFKDVHRQH  )RUG)[WUXFNDQGϭϮ ϭϯ  :+(5($6VDLGWUXFNLVDYDLODEOHWKURXJKWKH6RXUFHZHOO3XUFKDVLQJ&RRSHUDWLYHϭϰ ϭϱ &RQWUDFW1XPEHU1$)IURP,QJUDP(TXLSPHQW&RPSDQ\DWDFRVWQRWWRH[FHHGϭϲ ϭϳ ϭϴ ϭϵ 12:7+(5()25(%(,75(62/9('E\WKH&LW\&RXQFLORIWKH&LW\RI3UDWWYLOOHWKDWϮϬ Ϯϭ WKH)<%XGJHWLVKHUHE\DPHQGHGDVIROORZVϮϮ Ϯϯ 'HFUHDVH±:DVWHZDWHU2SHUDWLQJ5HVHUYHV   Ϯϰ ,QFUHDVH±:DVWHZDWHU&DSLWDO2XWOD\   Ϯϱ Ϯϲ %(,7)857+(55(62/9('WKDWIXQGVLQDQDPRXQWQRWWRH[FHHGIRUϮϳ Ϯϴ WKHSXUFKDVHRIRQH  )RUG)WUXFNDUHKHUHE\DXWKRUL]HGDQGDSSURYHGWREHSDLGϮϵ ϯϬ WR,QJUDP(TXLSPHQW&RPSDQ\DQGVDLGIXQGVDUHDSSURYHGDQGDSSURSULDWHGIURP)<ϯϭ ϯϮ %XGJHW/LQH,WHP:DVWHZDWHU&DSLWDO2XWOD\ϯϯ ϯϰ %(,7)857+(55(62/9('WKDWWKH0D\RULVKHUHE\DXWKRUL]HGWRH[HFXWHDQ\DQGϯϱ ϯϲ DOOGRFXPHQWVQHFHVVDU\WRFDUU\RXWWKHLQWHQWRIWKLV5HVROXWLRQϯϳ ϯϴ $'237('7+,67+'$<2)$8*867ϯϵ ϰϬ ϰϭ ϰϮ %\ /RUD/HH%RRQH3UHVLGHQWϰϯ  3UDWWYLOOH&LW\&RXQFLOϰϰ ϰϱ $87+(17,&$7('7+,67+'$<2)$8*867ϰϲ ϰϳ ϰϴ ϰϵ %\ 3DXOD*%DUORZϱϬ  &LW\&OHUNϱϭ ϱϮ $33529('ϱϯ ϱϰ ϱϱ ϱϲ %\ %LOO*LOOHVSLH-Uϱϳ  0D\RUϱϴ ϱϵ ϲϬ ϲϭ ϲϮ 5(62/87,21%22.$3$*(  ϲϯ ϲϰ