HomeMy WebLinkAboutRESO 9576160128 jb 6053661
Resolution No. 9576
Resolution of the Council of the City of Palo Alto Approving the City
of Palo Alto Utilities Legislative Policy Guidelines
A. The City of Palo Alto Utilities
Palo Alto City Council on July 18, 2011, [Staff Report #1880], and amended on August 5, 2013
(Staff Report #3950), provides a set of Strategic Objectives for the City of Palo Alto Utilities
Department (CPAU) to follow in ensuring a reliable and safe supply of utility resources,
providing customer service excellence, managing costs, and ensuring environmental
sustainability.
B.he
, and advocates for utilityrelated issues at Federal and
State legislative forums in furtherance of those objectives.
C. Action on some of these issues may require active involvement of Palo Alto
elected and appointed officials.
D.
January 13, 2016 meeting, and the UAC voted unanimously (60 with Commissioner Hall absent)
to the original language, such that the proposed guidelines, provided as Exhibit A to this
The Council of the City of Palo Alto hereby RESOLVES as follows:
SECTION 1. The Council hereby adopts the resolution approving the Utilities
Legislative Policy Guidelines, effective February 22, 2016. All prior versions of the City of Palo
Alto Utilities Legislative Policy Guidelines, including the Legislative Policy Guidelines adopted by
Council on March 2, 2015 (Resolution No. 9498) are hereby repealed and replaced in their
entirety by the Utilities Legislative Policy Guidelines, attached to this Resolution as Exhibit A.
SECTION 2. Staff will review the Guidelines annually and any proposed changes will
be approved by City Council.
//
//
//
//
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
SECTION 3. The Council finds that the adoption of this resolution does not constitute
a project under Section 21065 of the California Environmental Quality Act (CEQA) and the CEQA
Guidelines, and therefore, no environmental assessment is required.
INTRODUCED AND PASSED: February 22, 2016
AYES: BERMAN, BURT, DUBOIS, FILSETH, HOLMAN, KNISS, SCHARFF, SCHMID,
WOLBACH
NOES:
ABSENT:
ABSTENTIONS:
ATTEST:
City Clerk Mayor
APPROVED AS TO FORM: APPROVED:
Senior Deputy City Attorney City Manager
Director of Utilities
Director of Administrative Services
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
Included as Exhibit A to Resolution
Exhibit A
Formal advocacy positions taken in alignment with these guidelines will be subject to the
ALL UTILITES
Goals
1. Preserve/enhance local accountability in the control and oversight of matters impacting utility
programs and rates for our customers while balancing statewide climate protection goals.
2. Support efforts to maintain or improve the reliability and security of the supply, transmission,
storage, distribution/collection, and data infrastructures.
3. Support legislation that makes bold progress in cost effectively reducing greenhouse gas (GHG)
emissions, and recognizes early voluntary action.
4.le, and
competitivelypriced utility services.
Goals
Legislative Policy
Guidelines
Venue
1. Local
Accountability
2. Reliability,
Security
&
Infrastructure
3. Climate
Protection
4. Service &
Cost
Control
1. Advocate goals through active
participation in joint action
efforts.
Federal,
State, and
Regional
2. Support legislation that allows
local evaluation and design of
more efficient energy solutions,
fuel switching, and demand
control programs.
Federal,
State, and
Regional
3. Promote utility legislation and
regulations that support
effective and consistent
compliance and reporting
requirements. Ensure such
legislation and regulations
have received stakeholder
review and cost benefit
analysis.
Federal,
State, and
Regional
Reliability
Councils
4. Oppose unreasonable and
inequitable financial burdens
through active participation in
CMUA and NCPA legislative
activities.
Federal,
State, and
CPUC
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
Goals
Legislative Policy
Guidelines
Venue
1. Local
Accountability
2. Reliability,
Security
&
Infrastructure
3. Climate
Protection
4. Service &
Cost
Control
5. Advocate for state and federal
grants for local and regional
energy efficiency and
conservation measures,
renewable resources, fiber
optic, fuel switching,
wastewater collection systems
and recycled water projects.
Federal
and State
6. Maintain right of way access
for utility infrastructure.
Federal
and State
7. Protect the financial and
operational value of utility
assets and contracts;
preserve local regulatory
control of both.
Federal
and State
8. Enhance utility customer
protections for data security
and confidentiality.
Federal
and State
9. Maintain existing low cost
municipal financing options for
infrastructure projects and
advocate for new federal and
state programs that recognize
critical infrastructure needs.
Federal
and State
10. Promote legislation and
regulations supporting
reasonable and consistent
requirements for utility
notifications, , safety,
services, public
communications, billing,
payments, and customer
assistance.
Federal
and State
11. Support Proposition 26
reform efforts to provide
ratemaking flexibility to
balance conservation,
revenue sustainability, and
low income assistance
programs.
State
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
Goals
Legislative Policy
Guidelines
Venue
1. Local
Accountability
2. Reliability,
Security
&
Infrastructure
3. Climate
Protection
4. Service &
Cost
Control
12. Seek state and regional
funding to enhance the
efficiency, security, and
reliability of infrastructure
that maintains utility
customer data security and
confidentiality.
Federal
and State
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
ELECTRIC
Goals
1. Preserve/enhance the ability of municipal utilities to exercise local accountability and oversight over
matters impacting customer service, programs (such as demand side efficiency and conservation
programs), and rate structure.
2. Preserve/enhance the reliability and security of infrastructure.
3. Support legislation that recognizes early voluntary action in reducing GHG emissions and
specifically exempts a municipality from burdensome requirements that could result from
the early action.
4. Preserve just and reasonable utility rates/bills established by local governing bodies.
Goals
Legislative Policy Guidelines Venue
1. Local
Accountability
2.
Reliability
3. GHG
Reduction
4. Cost
Contro
l
1. Advocate goals through Northern California
Power Agency (NCPA), California Municipal
Utilities Association (CMUA), American Public
Power Association (APPA), Transmission
Agency of Northern California (TANC), and Bay
Area Municipal Transmission Group (BAMx)
with support from Palo Alto staff; strive to
present the same or substantially the same
message
Federal and
State
2. Support NCPA in its continued efforts to
streamline the state regulatory reporting
responsibilities, to eliminate duplicative data
and report submittals to multiple state
regulatory agencies, including the CEC, CARB,
and the California Independent System
Operator (CAISO).
State
3.Advocate for legislation/regulations that
provide local accountability and design
of:
Net Energy Metering (NEM) successor
programs designed to fit local
conditions and priorities;
Electric Integrated Resource Plans
costeffective renewable distributed
generation and cogeneration projects,
and standards and permitting
requirements for connecting such
resources to the local distribution
system;
balancing state and local policy
implementation and ratepayer
Federal and
State
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
Goals
Legislative Policy Guidelines Venue
1. Local
Accountability
2.
Reliability
3. GHG
Reduction
4. Cost
Contro
lequity;
equitable rate design and tariffs;
costeffective electric efficiency
programs;
implementation of renewable
portfolio standards;
costeffective storage integration;
direct access requirements;
smart meters and smart grid design and
implementation; and
use of public benefit funds (as allowed
in AB 1890 (1996)
4.Support capandtrade market designs
that:
protect consumers from the
exercise of market power;
allocate allowances that help mitigate
impacts to Palo Alto customers while
providing incentives for utilities to
lower GHG emission portfolios;
provide flexible compliance
mechanisms such as banking and
borrowing of allowances; and
allocate funds generated from capand
trade markets to costeffective GHG
reduction related activities, not as a
revenue source for state or federal
general funds.
Federal and
State
5.Support legislation for renewable
portfolio standards that:
maintain local compliance authority;
avoid mandates for technology or
source specific carve outs, and
minimum term requirements;
allow utilities to pursue all cost
effective resources available to meet
portfolio needs including use of
Renewable Energy Certificates (RECs);
ensure uniform application of RPS
standards, avoiding punitive and/or
duplicative noncompliance penalties;
restrict new regulations expanding
CEC jurisdiction over publicly owned
utilities;
Local and
State
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
Goals
Legislative Policy Guidelines Venue
1. Local
Accountability
2.
Reliability
3. GHG
Reduction
4. Cost
Contro
lallow local distributed generation
to count in full towards RPS; and
prioritize the use of existing
transmission system assets over
building new transmission.
6.Support/encourage transmission,
generation, and demandreduction
projects and solutions including
advocating for financing or funding
solutions/options for projects that:
enhance/ensure reliability;
ensure equitable cost allocation
following beneficiary pays principles
(including protection against
imposition of state owned electric
contract costs on municipal utility
customers);
improve procurement flexibility (e.g.
resource adequacy rules that ensure
reliability and provide flexibility in
meeting operational requirements or
flexibility in meeting State renewable
portfolio standards);
support the continuation of federal
and state financial incentives that
promote increased renewable
development;
improve market transparency
(particularly trans
transmission and procurement
planning and implementation
activities); and
reduce negative environmental
impacts on the Bay Area and the
Peninsula.
Local, State,
and Federal
7.Advocate for Congressional, legislative,
or administrative actions on matters
impacting costs or operations of the
Western Area Power Administration
(Western) such as:
support of Congressional Field
Hearings to explore modernizing flood
control strategies, river regulation and
Federal,
State and
Regional
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
Goals
Legislative Policy Guidelines Venue
1. Local
Accountability
2.
Reliability
3. GHG
Reduction
4. Cost
Contro
lgeneration strategies at Central Valley
Project (CVP) plants to enhance
generation, water delivery, flood
control and fisheries;
protection of the status of Western
Power Marketing Administration and
costbased rates;
first take at available land with
economic potential for wind farms;
balancing efforts for competing
environmental improvements in rivers
and Delta conditions with water supply
and hydropower impacts;
support grid modernization without
compromising the primary mission of
Western and recognizing the
achievements already made in
California without adding duplicate
costly efforts;
monitoring and evaluating impacts of
Delta conveyance proposals on
Western Base Resource allocation;
advocating for an equitable
distribution of costs between water
and power customers of the Central
Valley Project; and
advocating for clear product
provisions, fair allocation of Base
Resource Capacity and fair contract
terms under Western s 2025 Power
Marketing Plan and new Western
Base Resource contracts.
8. Advocate for Congressional or administrative
actions on matters relating to overly
burdensome reporting and compliance
requirements established by the North
American Reliability Corporation (NERC), the
Federal Energy Regulatory Commission (FERC)
or the Western Electricity Coordinating
Council (WECC).
Federal,
State and
Regional
9. Support fair and reasonable application of grid
reliability requirements established by NERC,
WECC, or FERC and seek appropriate remedies
Federal and
Regional
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
Goals
Legislative Policy Guidelines Venue
1. Local
Accountability
2.
Reliability
3. GHG
Reduction
4. Cost
Contro
l(if needed) for inequitable or punitive
application of fees and fines.
10.Work with CAISO and/or FERC:
to give buyers of renewable
intermittent resources relief from
imbalance penalties;
to promote financial and operational
changes that result in timely and
accurate settlement and billing; and
to provide critical input on the need for
various transmission projects in light of
the escalating costs to the City to
import power using the bulk
transmission system.
Federal and
State
11. Work with NCPA, CMUA and NERC to ensure
that:
Federal, state and regional designations
appropriately applied to only truly
critical local distribution infrastructure;
and
CPAU retains local control over
implementation of utility industry cyber
security standards, policies and
procedures.
Federal and
Regional
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
FIBER OPTIC
Goals
1. Preserve and enhance the authority of local government to (1) develop broadband solutions that
align with community needs and (2) expand consumer choice for competitive Internet connectivity
and other advanced services delivered over fiberoptic networks.
2. Encourage the competitive delivery of broadband services by permitting the use of public rights of
way and Utilities infrastructure in a responsible manner, provided that local rights of way authority
and managem
utility safety, service, and operational s obligations.
3. Support local government authority over zoningrelated land use for communications infrastructure
in accordance with reasonable and nondiscriminatory regulations.
4.Technology and the Connected City initiative of 2013, to fully
optic and infrastructure assets such as public rightsofway, utility
poles and conduit for the broadband expansion.
Goals
Legislative Policy Guidelines Venue
1. Support
Municipal
Delivery
2. Competitive
Delivery
3. Local
Authority
over Land
Use
4. Support
Council
Initiatives
1. Advocate for these goals through the
American Public Power Association
(APPA), California Municipal Utilities
Association (CMUA), National
Association of Telecommunications
Officers and Advisors (NATOA),
National League of Cities (NLC), and the
Next Century Cities initiative (NCC),
with support from City staff.
Federal
and State
2. Support legislation and regulations that
preserve and enhance municipal
delivery of conventional and advanced
telecommunication services as
prescribed by the Telecommunications
Act of 1996.
Federal
and State
3. Support the goals of the Federal
Communications Commission s (FCC),
National Broadband Plan to improve
Internet access nationwide.
Federal
and State
4. Oppose legislation and regulations that
benefit the incumbent cable TV,
telephone, and telecommunications
companies at the expense of
communityowned fiberoptic and
wireless networks.
Federal
and State
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
Goals
Legislative Policy Guidelines Venue
1. Support
Municipal
Delivery
2. Competitive
Delivery
3. Local
Authority
over Land
Use
4. Support
Council
Initiatives
5. Support legislation and regulations that
preserve and enhance utility customer
data security and confidentiality
protections by the providers of
telecommunication services.
Federal
and State
6.
concurrently pursue the findings and
recommendations in the Fibertothe
Premises Master Plan and Wireless
Network Plan and continue discussions
and negotiations with third parties
considering new service deployments
in Palo Alto.
Local
7.Support legislation and
regulations that::
Permit the contractual use of
public rightof way and
Utilities infrastructure;
Preserve local rightsofway
authority and management;
Preserve local government
zoning and siting authority for
wireless and wireline
communication facilities;
policies to ensure conduit and
fiber are available for lease on
reasonable terms; and
Oppose legislation and
regulations that arbitrarily
reduce compensation received
by local governments from
other entities for the economic
use of the public rightsofway
and other public properties
required for communication
infrastructure (e.g., utility poles,
streetlight poles, ducts and
conduits).
Federal,
State and
Local
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
NATURAL GAS
Goals
1. Preserve/enhance the ability of municipal utilities to develop and implement demand side
efficiency and conservation programs, alternative gas supplies, and rate structures.
2. Increase the security and reliability of the gas supply and transmission infrastructure. This includes
retaining access to intra and interstate gas transmission systems to reliably serve customers.
3. Support efforts to reduce greenhouse gas emissions and protect the environment.
4. Preserve just and reasonable utility rates/bills established by local governing bodies.
Goals
Legislative Policy Guidelines Venue 1. Local
Accountability
2. Reliability of
Infrastructure
3. Environ
ment
4. Cost
Control
1. Advocate most of these goals
mainly through the American
Public Gas Association (APGA) with
minor support from Palo Alto staff.
Primarily
Federal with
minor
advocacy at
State level
2. Work with Northern California
Power Agency (NCPA) and
California Municipal Utilities
Association (CMUA) to the extent
use of natural gas.
Federal and
State
3. Support cost effective renewable
gas supplies from in or out of state
sources. In case of mandated
renewable portfolio standards,
advocate for controls and off
ramps similar to the electric RPS
that minimize customer cost
impact.
Federal and
State
4. Advocate for financing or funding
for costeffective natural gas
efficiency and solar water heating
end uses.
Federal and
State
5. Support market transparency and
efforts to eliminate market
manipulation through reasonable
oversight.
Federal
6. Support
to enter into prepay transactions
for gas supplies.
Federal
7. Support efforts to improve pipeline
safety.
Federal and
State
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
Goals
Legislative Policy Guidelines Venue 1. Local
Accountability
2. Reliability of
Infrastructure
3. Environ
ment
4. Cost
Control
8. Work with partners to discourage
extension of CPUC regulatory
authority over municipal gas
operations.
State
9.Support capandtrade
market designs that:
protect consumers from
the exercise of market
power;
allocate allowances that
mitigate impacts to Palo
Alto customers while
preserving City
environmental goals;
advocate for an allowance
allocation methodology that
provides flexibility for Palo
Alto to structure rates to
align GHG costs and
revenues;
provide flexible compliance
mechanisms such as
banking and borrowing of
allowances; and
allocate funds generated
from capandtrade markets
to GHG related activities,
not as a revenue source for
state or federal general
funds.
Federal and
State
10. Support legislation that aims to
protect public health and
encourages transparency regarding
the practice of hydraulic fracturing
development, while opposing
supported by science.
Federal and
State
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
WASTEWATER COLLECTION
Goals
1. Support ability of municipal utilities to develop and manage their own conservation and efficiency
programs and retain authority over ratemaking, including the imposition of non volumetric
customer meter or infrastructure charges for wastewater collection service.
2. Encourage efforts to increase the reliability of the local wastewater collection systems.
3. Maintain the provision of reliable and sustainable wastewater collection service at a fair price.
4. Support equal comparisons of wastewater collection systems by regulatory agencies in order to
minimize and reduce onerous, costly, timeintensive reporting requirements and improve value
and accuracy of information reported to the public.
Goals
Legislative Policy Guidelines Venue
1. Local
Accountability
2. Reliable
Infrastructure
3. Maintain
service
4. Valuable
reporting
1. Advocate goals through active
participation in the Association of
Bay Area Governments (ABAG).
Local,
Regional
& State
2.Support regulations of
wastewater collection systems
that recognize:
proactive
efforts to replace and
maintain wastewater
collections systems;
the need to provide
affordable and cost based
collection service; and
the unique characteristics
of each collection system.
Local,
Regional
& State
3.Support regional agencies in
their pursuit of:
environmentally
sustainable, reliable
wastewater collection
service at a fair price; and
regional comparisons of
wastewater collection
projects for future state
grant funding.
Local and
Regional
5. Advocate for funding and local
regulations for wastewater
collection system projects and
requirements that reduce
overflows and improve collection
system efficiency.
Regional,
State and
Federal
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
WATER
Goals
1. Support the ability of public utilities and districts to develop and implement their own water
efficiency and conservation programs while retaining authority over ratemaking, including the
ability to optimize volumetric, fixed, and droughtrelated pricing and balance the goals of revenue
certainty and water use efficiency.
2. Increase the security and reliability of the regional water system owned and operated by the San
Francisco Public Utilities Commission (SFPUC).
3. Support efficiency and recycled water programs in order to minimize the use of imported supplies.
4. Provide environmentally sustainable and reliable supplies of high quality water.
Goals
Legislative Policy Guidelines Venue 1. Local
Authority
2. Reliable
Infrastructur
3. Minimize
imports
4. Supplies
at fair cost
1. Advocate goals through active
participation in the Bay Area Water Supply
and Conservation Agency (BAWSCA),
California Urban Water Conservation
Council (CUWCC), and California
Municipal Utilities Association (CMUA),
with support from Palo Alto staff for
BAWSCA
Local,
Regional
and State
2. Participate in CUWCC Best Management
Practice (BMP) revisions and development
to ensure that aggressive and cost
effective efficiency goals are incorporated
and operating proposals are reasonable,
achievable, and costeffective.
State
3.Advocate to ensure that legislative
actions regarding the Hetch Hetchy
Regional Water System include:
timely rebuilding of the regional
water system;
maintenance of the quality of
delivered water;
minimization of any increase in
the cost of water;
no additional exposure to
more frequent or severe
water shortages;
increased realtime
monitoring data availability to
ensure water quality;
support for the existing water
system and its operation;
Local,
Regional
and State
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
Goals
Legislative Policy Guidelines Venue 1. Local
Authority
2. Reliable
Infrastructur
3. Minimize
imports
4. Supplies
at fair cost
SWRCB responsiveness to SFPUC
water quality issues;
4. Advocate for interpretations or
implementation of Water Code provisions
that maintain or reinforce the authorities
and protections available to the City and
BAWSCA members outside of San
Francisco.
Local,
Regional
and State
5.Support BAWSCA to enable it to
advocate for:
an environmentally sustainable,
reliable supply of high quality
water at a fair price;
under the Water Supply
Agreement for water from SFPUC
that meets quality standards;
a SFPUC rate structure that is
consistent with the Water
Supply Agreement and is
based on water usage;
existing contractual water
allocation and transportation
rights on the SFPUC Hetch
Hetchy system; and
regional planning for conservation,
recycled water, and other water
supply projects.
Local and
Regional
6.Advocate for actions that:
existing contractual
rights; and
preserve local control over water
use and limit encroachment from
outside jurisdictions.
Local and
Regional
7. Support infrastructure security and
reliability including an interconnection
between the SCVWD West Pipeline with
Pipelines 3 and 4.
Regional
and State
8. Support notification requirements that
inform residents/customers but do not
inflict undue or unobtainable requirements
on the utility.
State
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
Utilities LegislativePolicy Guidelines February 2016 Update
6053662
Goals
Legislative Policy Guidelines Venue 1. Local
Authority
2. Reliable
Infrastructur
3. Minimize
imports
4. Supplies
at fair cost
9. Support local control of public benefit
funds, funding levels and program
design.
State
10. Support beneficiary pays methodologies to
prevent taxes or fees imposed on SFPUC
customers to fund infrastructure
improvements and costs of water sources
that do not serve Palo Alto customers.
State and
Regional
11. Advocate for financing or funding for water
conservation programs and recycled water
projects that meet enduse needs and
conserve potable water and oppose
legislation that would reduce such funding.
State,
Regional
and
Federal
12. Support infrastructure security and
reliability that includes equitable allocation
of funds for increasing the security of
infrastructure and that protects the City
from unnecessary regulations.
Local,
State and
Federal
13. Support legislation that promotes
responsible groundwater management
historical groundwater extraction
practices.
State
14. Support Proposition 218 reform efforts to
provide ratemaking flexibility to balance
conservation, revenue sustainability, and
low income assistance programs.
State
15. Advocate for reasonable statewide water
conservation efforts (both drought
response and long term) that achieve
required water savings while minimizing
customer and commercial impact,
protecting the City s urban canopy and
minimizing the City s enforcement costs.
State
16. Protect the City and County of San
Francisco s water rights as well as those
of the cograntees of the Raker Act.
State
17. Support legislation that would protect the
City s infrastructure and treatment
investments from future statewide cuts
in water use.
State
DocuSign Envelope ID: 744C4EF3-E960-4AF7-A022-17ECF750F84B
'IVXMJMGEXI3J'SQTPIXMSR
)RZIPSTI-H')*)%*%)'**& 7XEXYW'SQTPIXIH
7YFNIGX4PIEWI(SGY7MKRXLMWHSGYQIRX6)730IKMWPEXMZI+YMHIPMRIW(VEJXTHJ
7SYVGI)RZIPSTI
(SGYQIRX4EKIW 7MKREXYVIW )RZIPSTI3VMKMREXSV
'IVXMJMGEXI4EKIW -RMXMEPW /MQ0YRX
%YXS2EZ)REFPIH
)RZIPSTI-H7XEQTMRK)REFPIH
8MQI>SRI98'
4EGMJMG8MQI97
'EREHE
,EQMPXSR%ZI
4EPS%PXS'%
OMQFIVP]PYRX$GMX]SJTEPSEPXSSVK
-4%HHVIWW
6IGSVH8VEGOMRK
7XEXYW3VMKMREP
%1
,SPHIV/MQ0YRX
OMQFIVP]PYRX$GMX]SJTEPSEPXSSVK
0SGEXMSR(SGY7MKR
7MKRIV)ZIRXW 7MKREXYVI 8MQIWXEQT
%Q]&EVXIPP
%Q]&EVXIPP$'MX]SJ4EPS%PXSSVK
1EREKIQIRX7TIG
'MX]SJ4EPS%PXS
7IGYVMX]0IZIP)QEMP%GGSYRX%YXLIRXMGEXMSR
2SRI
9WMRK-4%HHVIWW
7IRX%1
:MI[IH%1
7MKRIH%1
)PIGXVSRMG6IGSVHERH7MKREXYVI(MWGPSWYVI
%GGITXIH%1
-(HIGFHIJGHIE
0EPS4IVI^
0EPS4IVI^$'MX]SJ4EPS%PXSSVK
'LMIJ*MRERGMEP3JJMGIV
'MX]SJ4EPS%PXS
7IGYVMX]0IZIP)QEMP%GGSYRX%YXLIRXMGEXMSR
2SRI
9WMRK-4%HHVIWW
7MKRIHYWMRKQSFMPI
7IRX%1
:MI[IH41
7MKRIH41
)PIGXVSRMG6IGSVHERH7MKREXYVI(MWGPSWYVI
2SX3JJIVIHZME(SGY7MKR
-(
)H7LMOEHE
IHWLMOEHE$GMX]SJTEPSEPXSSVK
%'1
'MX]SJ4EPS%PXS
7IGYVMX]0IZIP)QEMP%GGSYRX%YXLIRXMGEXMSR
2SRI
9WMRK-4%HHVIWW
7IRX41
:MI[IH41
7MKRIH41
)PIGXVSRMG6IGSVHERH7MKREXYVI(MWGPSWYVI
2SX3JJIVIHZME(SGY7MKR
-(
.EQIW/IIRI
NEQIWOIIRI$GMX]SJTEPSEPXSSVK
'MX]1EREKIV
'MX]SJ4EPS%PXS
7IGYVMX]0IZIP)QEMP%GGSYRX%YXLIRXMGEXMSR
2SRI
9WMRK-4%HHVIWW
7IRX41
:MI[IH41
7MKRIH41
)PIGXVSRMG6IGSVHERH7MKREXYVI(MWGPSWYVI
%GGITXIH41
-(JIEEGFFHEGI