-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen
TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
WNyfrGGpaH4QokN2gb7MqEGP0ovkjKmPWJrZppVdU3KNsFlggHuL+RjvCOFo2EHs
huD1yZ1mxVe7JiTuPQNhYQ==
0000930413-06-002919.txt : 20060417
0000930413-06-002919.hdr.sgml : 20060417
20060417122116
ACCESSION NUMBER: 0000930413-06-002919
CONFORMED SUBMISSION TYPE: N-CSRS
PUBLIC DOCUMENT COUNT: 7
CONFORMED PERIOD OF REPORT: 20060228
FILED AS OF DATE: 20060417
DATE AS OF CHANGE: 20060417
EFFECTIVENESS DATE: 20060417
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: HILLIARD LYONS GOVERNMENT FUND INC
CENTRAL INDEX KEY: 0000317872
IRS NUMBER: 610978881
STATE OF INCORPORATION: MD
FISCAL YEAR END: 0831
FILING VALUES:
FORM TYPE: N-CSRS
SEC ACT: 1940 Act
SEC FILE NUMBER: 811-03070
FILM NUMBER: 06761662
BUSINESS ADDRESS:
STREET 1: HILLIARD LYONS CTR
STREET 2: PO BOX 32760
CITY: LOUISVILLE
STATE: KY
ZIP: 40232
BUSINESS PHONE: 5025888832
MAIL ADDRESS:
STREET 1: PO BOX 32760
CITY: LOUISVILLE
STATE: KY
ZIP: 40232
FORMER COMPANY:
FORMER CONFORMED NAME: HILLIARD LYONS CASH MANAGEMENT INC
DATE OF NAME CHANGE: 19830125
0000317872
S000000761
HILLIARD LYONS GOVERNMENT FUND INC
C000002178
HILLIARD LYONS GOVERNMENT FUND INC
HLCXX
N-CSRS
1
c41408_ncsrs.htm
|
OMB APPROVAL
OMB Number:
3235-0570
Expires: September 30, 2007
Estimated average burden
hours per response: 19.4
|
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act file number 811-3070
Hilliard-Lyons Government Fund, Inc.
(Exact name of registrant as specified in charter)
P. O. Box 32760, Louisville, Kentucky 40232-2760
(Address of principal executive offices) (Zip
code)
|
Joseph C. Curry, Jr. |
Carol Gehl
|
|
Hilliard-Lyons Government
Fund, Inc. |
Godfrey & Kahn, S.C.
|
|
P. O. Box 32760 |
780 North Water Street
|
|
Louisville, Kentucky 40232-2760 |
Milwaukee, Wisconsin 53202
|
(Name and address of agents for service)
Registrant's telephone number, including area code:
(502) 588-8602
Date of fiscal year end: August 31
Date of reporting period: February
28, 2006
Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders
under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e -1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form
N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.
ITEM 1.
|
REPORT TO SHAREHOLDERS.
|
|
|
|
The semi-annual report to shareholders follows.
|
March 13, 2006
Dear Shareholder:
We are pleased to present this report on the Hilliard-Lyons Government Fund, Inc. (HLGF or the Fund) for the six months ended February 28, 2006.
The Federal Reserve (Fed) has raised short-term interest rates by increasing the federal funds rate fourteen consecutive times beginning in June 2004, to its current level of 4 1/2%. This rate is the rate
charged on overnight loans between banks. It is the Feds primary monetary policy tool. Banks normally raise their prime lending rate following an increase in the federal funds rate. The prime lending rate is the benchmark for most consumer and
business loans.This drives up the costs of borrowing which restricts consumer spending and business activity.This is how the Fed uses its ability to control the federal funds rate to influence the economy.The language in the policy statement that
accompanies an action by the Fed is indicative of the Feds reasoning and its future course of action. In its statement accompanying the latest rate increase on January 31, 2006, the Fed indicated further rate increases may be needed to prevent
inflation. This was the last meeting for Fed chairman, Alan Greenspan, who had been at the helm of the Federal Reserve since 1987. He was succeeded by Ben Bernanke. It will take time for markets to adjust to a new chairman, especially given the
current uncertainty about the interest rate outlook. In a speech in February to a congressional panel, Mr. Bernanke indicated he believed the economy was in good shape. Risks to the economy include rising energy prices and softening home sales. He
suggested further rate increases might be needed to keep inflation under control. The next meeting of the Fed is March 27-28. Another 1/4 of 1% rate increase is widely expected to take place at that meeting. There is less certainty about further
rate increases following that.
The graphical representation of interest rates on government obligations of varying maturity dates is known as the yield curve. Under normal conditions, the yield curve would be upward sloping. Investors would earn a
higher rate of return for an investment with a longer maturity date.This implies that investors expect rates to rise. An inverted yield curve would indicate that investors expect rates to fall. Research has shown that an inverted yield curve often
precedes a recession. A flat yield curve indicates investors do not expect rates to change in the future. The yield curve is currently flat. The yield on the three month Treasury bill, two year Treasury note and ten year Treasury note are all about
the same. There were two time periods in the 1990s when the yield curve was flat but did not invert and the economy continued without recession.
Rates on interest-bearing instruments have risen since the Fed began raising rates. With the end of rate increases in sight, short-term rates are at or near a plateau. Unlike money market funds, banks can pay a rate of
their choosing on deposits. Offering rates higher than the prevailing market rate is an asset gathering tool for financial institutions. Promotional offers with high introductory rates abound. While these offers can be attractive in the short run,
investors need to pay attention to the fine print. Minimum balance restrictions are common. Customers may have to deposit a sizable amount to qualify for the most attractive rate. Once the promotional period ends, an investor may end up with a lower
than prevailing market rate. Some online banks are offering attractive promotional rates but online banking has limitations for many customers. Most do not offer checking accounts so cus-
tomers have to maintain a separate account at another institution and withdrawals through automatic teller machines typically incur service fees.
Unlike these set rates on bank products, the rate paid by a money market fund is derived from earnings on its investments. HLGF offers a competitive market rate along with other sought after features such as completely
free, unlimited checkwriting. Each dollar invested in the Fund earns the same rate regardless of the holding period or balance of the investor. The rate paid is based on the earnings of the Fund.The Fund earns income from its investments The Fund
invests exclusively in short-term securities issued by U.S. Government Sponsored Enterprises.These securities offer a high degree of credit safety. A portfolio allocation as of February 28, 2006 follows:
Portfolio Allocation1
![](c41408_ncsrsx2x1.jpg) |
U.S. Government Sponsored
Enterprises - 100% |
1 As a Percentage of total investments at February 28, 2006. Investments are subject to change daily.
The Schedule of Investments which follows, details these investments and shows the Fund was invested primarily in short-term securities issued by the Federal Home Loan Banks at February 28, 2006.
We appreciate your investment in the Fund and we remain committed to providing an attractive investment for your savings dollars.
![](c41408_ncsrsx2x2.jpg)
Joseph C. Curry, Jr.
President |
![](c41408_ncsrsx2x3.jpg)
Dianna P. Wengler
Vice President and Treasurer |
2
Understanding Your Funds Expenses
All mutual funds have operating expenses. As a shareholder of the Fund, you incur ongoing costs including costs for portfolio management, administrative services and shareholder reports such as this one. Operating
expenses directly reduce the investment return of a fund as they are paid from gross income. A funds expenses are shown by its expense ratio which is calculated as a percentage of average net assets. The following table is intended to help you
understand the ongoing fees, expressed in dollars, of investing in the Fund and to be able to compare these costs with those of other mutual funds. The examples in the table are based on an initial investment of $1,000 made at the beginning of
the period and held for the entire period.
The table shows costs in two ways.
Actual Return. The first line of the table below lets you estimate the actual expenses you paid over the period. It shows the expenses that would have been paid on a
$1,000 investment for the period September 1, 2005 to February 28, 2006. It shows the value of the investment at the end of the period using actual returns and expenses.
You may use the information in this line, together with the amount you invested, to estimate the expenses that you paid over the period. Simply divide your account value by $1,000 (for example, an $8,600
account value divided by $1,000 = 8.6), then multiply the result by the number in the first line under the heading entitled Expenses Paid During Period to estimate the expenses you paid on your account during this period.
Hypothetical 5% Return. The second line of the table below lets you compare the expenses of investing in the Fund with the expenses of other mutual funds. It uses a
hypothetical annualized rate of return of 5% per year and the Funds actual expenses. All mutual fund shareholder reports will provide this information.You can compare this 5% hypothetical example with the 5% hypothetical examples that appear
in the shareholder reports of other funds.
|
|
|
Beginning
|
|
Ending
|
|
Net
|
|
Expenses
|
|
|
|
Account
|
|
Account
|
|
Annualized
|
|
Paid
|
|
|
|
Value
|
|
Value
|
|
Expense
|
|
During
|
|
|
|
9/1/05
|
|
2/28/06
|
|
Ratio
|
|
Period*
|
|
|
|
|
|
|
|
|
|
|
|
Actual Fund Return
|
|
$1,000.00
|
|
$1,015.74
|
|
.79%
|
|
$3.95
|
|
Hypothetical 5% Return
|
|
$1,000.00
|
|
$1,020.81
|
|
.79%
|
|
$3.96
|
|
* |
Expenses are equal
to the Funds annualized
expense ratio multiplied by the average account value for the period; multiplied
by 181/365 (to reflect the one-half year period). |
Information About Proxy Voting by the Fund
The Fund invests exclusively in non-voting securities and therefore is not required to include information regarding proxy voting policies and procedures.
Information About the Funds Portfolio Holdings
The Fund files its complete schedule of portfolio holdings with the SEC for the first and third fiscal quarters of each fiscal year (quarters ended May 31 and November 30) on Form N-Q. The Funds Form N-Q is
available on the SECs website at www.sec.gov and may be reviewed and copied at the SECs Public Reference Room in Washington D.C. Information on the operation of the SECs Public Reference Room may be obtained by calling
1-800-SEC-0330.
3
HILLIARD-LYONS GOVERNMENT FUND, INC.
SCHEDULE OF INVESTMENTS
(UNAUDITED)
February 28, 2006
|
|
|
|
Cash
|
|
|
|
|
|
Principal
|
|
|
|
Equivalent
|
|
Maturity
|
|
|
|
Amount
|
|
|
|
Yield
|
|
Date
|
|
Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
U.S. GOVERNMENT SPONSORED ENTERPRISES* 100.2%**
|
|
|
|
|
|
|
$30,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.085
|
%
|
|
03/01/06
|
|
$
|
30,000,000
|
22,491,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.411
|
|
|
03/01/06
|
|
|
22,491,000
|
25,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.322
|
|
|
03/02/06
|
|
|
24,997,069
|
28,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.335
|
|
|
03/03/06
|
|
|
27,993,420
|
25,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.306
|
|
|
03/06/06
|
|
|
24,985,347
|
40,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.328
|
|
|
03/07/06
|
|
|
39,971,733
|
15,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.293
|
|
|
03/08/06
|
|
|
14,987,808
|
10,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.383
|
|
|
03/08/06
|
|
|
9,991,678
|
23,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.381
|
|
|
03/09/06
|
|
|
22,978,022
|
30,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.356
|
|
|
03/10/06
|
|
|
29,968,125
|
32,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.356
|
|
|
03/13/06
|
|
|
31,954,667
|
15,000,000
|
|
Federal Farm Credit Bank Discount Note
|
|
4.221
|
|
|
03/14/06
|
|
|
14,977,792
|
20,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.288
|
|
|
03/15/06
|
|
|
19,967,528
|
14,100,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.470
|
|
|
03/15/06
|
|
|
14,075,928
|
30,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.441
|
|
|
03/16/06
|
|
|
29,945,500
|
38,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.419
|
|
|
03/17/06
|
|
|
37,926,956
|
22,900,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.412
|
|
|
03/20/06
|
|
|
22,847,788
|
35,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.439
|
|
|
03/21/06
|
|
|
34,915,222
|
35,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.418
|
|
|
03/22/06
|
|
|
34,912,004
|
16,500,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.353
|
|
|
03/23/06
|
|
|
16,457,146
|
21,937,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.143
|
|
|
03/24/06
|
|
|
21,880,729
|
30,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.459
|
|
|
03/27/06
|
|
|
29,905,317
|
21,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.457
|
|
|
03/28/06
|
|
|
20,931,172
|
20,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.408
|
|
|
03/29/06
|
|
|
19,933,111
|
15,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.459
|
|
|
03/30/06
|
|
|
14,947,196
|
15,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.451
|
|
|
03/30/06
|
|
|
14,947,196
|
25,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.361
|
|
|
03/31/06
|
|
|
24,911,354
|
15,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.480
|
|
|
04/03/06
|
|
|
14,939,500
|
25,000,000
|
|
Federal Farm Credit Bank Discount Note
|
|
4.424
|
|
|
04/04/06
|
|
|
24,898,000
|
30,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.428
|
|
|
04/05/06
|
|
|
29,874,000
|
35,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.444
|
|
|
04/07/06
|
|
|
34,844,060
|
35,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.465
|
|
|
04/12/06
|
|
|
34,822,171
|
38,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.485
|
|
|
04/17/06
|
|
|
37,782,951
|
30,000,000
|
|
Federal Farm Credit Bank Discount Note
|
|
4.525
|
|
|
04/18/06
|
|
|
29,822,800
|
25,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.496
|
|
|
04/19/06
|
|
|
24,850,788
|
30,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.509
|
|
|
04/20/06
|
|
|
29,816,667
|
40,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.516
|
|
|
04/21/06
|
|
|
39,750,383
|
40,000,000
|
|
Federal Farm Credit Bank Discount Note
|
|
4.559
|
|
|
04/25/06
|
|
|
39,728,056
|
See notes to financial statements.
4
HILLIARD-LYONS GOVERNMENT FUND, INC.
SCHEDULE OF INVESTMENTScontinued
(UNAUDITED)
February 28, 2006
|
|
|
|
Cash
|
|
|
|
|
|
|
Principal
|
|
|
|
Equivalent
|
|
Maturity
|
|
|
|
|
Amount
|
|
|
|
Yield
|
|
Date
|
|
Value
|
|
|
|
|
|
|
|
|
|
|
|
|
|
$40,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.542
|
%
|
|
04/26/06
|
|
$
|
39,724,356
|
|
20,000,000
|
|
Federal Farm Credit Bank Discount Note
|
|
4.543
|
|
|
04/28/06
|
|
|
19,857,256
|
|
30,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.605
|
|
|
05/03/06
|
|
|
29,764,275
|
|
30,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.620
|
|
|
05/10/06
|
|
|
29,737,208
|
|
30,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.625
|
|
|
05/12/06
|
|
|
29,729,400
|
|
20,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.483
|
|
|
05/17/06
|
|
|
19,813,917
|
|
30,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.608
|
|
|
05/19/06
|
|
|
29,704,737
|
|
15,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.655
|
|
|
05/23/06
|
|
|
14,842,992
|
|
25,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.677
|
|
|
05/24/06
|
|
|
24,734,000
|
|
30,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.698
|
|
|
05/26/06
|
|
|
29,671,767
|
|
35,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.518
|
|
|
06/07/06
|
|
|
34,583,636
|
|
40,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.728
|
|
|
06/14/06
|
|
|
39,463,333
|
|
30,000,000
|
|
Federal Farm Credit Bank Discount Note
|
|
4.653
|
|
|
06/15/06
|
|
|
29,600,733
|
|
26,363,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.654
|
|
|
06/28/06
|
|
|
25,970,415
|
|
28,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.733
|
|
|
07/12/06
|
|
|
27,526,224
|
|
30,000,000
|
|
Federal Home Loan Bank Discount Note
|
|
4.783
|
|
|
08/04/06
|
|
|
29,400,050
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL U. S. GOVERNMENT SPONSORED ENTERPRISES
|
|
|
|
|
|
|
|
|
|
(at amortized cost$1,449,054,483)
|
|
|
|
|
|
|
|
1,449,054,483
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL INVESTMENTS100.2%
|
|
|
|
|
|
|
|
|
|
|
|
(at amortized cost$1,449,054,483***)
|
|
|
|
|
|
|
|
1,449,054,483
|
|
|
|
OTHER ASSETS LESS LIABILITIES(0.2%)
|
|
|
|
|
|
|
|
(2,714,388
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET ASSETS100.0%
|
|
|
|
|
|
|
$
|
1,446,340,095
|
|
|
|
|
|
|
|
|
|
|
|
|
|
* |
Obligations of U.S. Government sponsored enterprises are not issued nor guaranteed by the United States Treasury. |
|
|
** |
The percentage shown for each investment category is the total value of that category as a percentage of the total net assets of the Fund. |
|
|
*** |
Also represents cost for federal income tax purposes. |
|
See notes to financial statements.
5
HILLIARD-LYONS GOVERNMENT FUND, INC.
STATEMENT OF ASSETS AND LIABILITIES
(UNAUDITED)
February 28, 2006
ASSETS
|
|
|
|
Investments, (at amortized cost which approximates market value (identified and tax
|
|
|
|
cost$1,449,054,483))
|
|
$
|
1,449,054,483
|
Cash
|
|
|
276
|
Prepaid expenses
|
|
|
79,907
|
|
|
|
|
TOTAL ASSETS
|
|
|
1,449,134,666
|
|
|
|
|
LIABILITIES
|
|
|
|
Dividends payable
|
|
|
1,873,657
|
Due to affiliatesNote B
|
|
|
|
Investment advisory fee
|
|
|
321,074
|
Shareholder servicing fee
|
|
|
279,196
|
Administrative fee
|
|
|
200,600
|
Accrued directors fees
|
|
|
47,354
|
Accrued expenses
|
|
|
72,690
|
|
|
|
|
TOTAL LIABILITIES
|
|
|
2,794,571
|
|
|
|
|
NET ASSETS
|
|
$
|
1,446,340,095
|
|
|
|
|
Shares of beneficial interest outstanding
|
|
|
1,446,340,095
|
|
|
|
|
Net asset value, offering and redemption price per share
|
|
|
|
(net assets ÷ shares of beneficial interest outstanding)
|
|
|
$1.00
|
|
|
|
|
See notes to financial statements.
6
HILLIARD-LYONS GOVERNMENT FUND, INC.
STATEMENT OF OPERATIONS
(UNAUDITED)
For the six months ended February 28, 2006
|
|
|
|
INVESTMENT INCOME
|
|
|
|
Interest
|
|
$
|
27,836,622
|
|
|
|
|
EXPENSES
|
|
|
|
Investment advisory feeNote B
|
|
|
2,063,000
|
Shareholder servicing feeNote B
|
|
|
1,753,068
|
Administrative feeNote B
|
|
|
1,262,209
|
Printing and other expenses
|
|
|
138,142
|
Legal and audit fees
|
|
|
107,430
|
Custodian fees and expenses
|
|
|
79,220
|
Directors fees
|
|
|
62,115
|
Insurance expense
|
|
|
60,260
|
Transfer agent fees and expenses
|
|
|
22,940
|
Registration fees
|
|
|
21,510
|
|
|
|
|
Total expenses
|
|
|
5,569,894
|
|
|
|
|
Net investment income
|
|
|
22,266,728
|
|
|
|
|
Net increase in net assets resulting from operations
|
|
$
|
22,266,728
|
|
|
|
|
See notes to financial statements.
7
HILLIARD-LYONS GOVERNMENT FUND, INC.
STATEMENT OF CHANGES IN NET ASSETS
|
|
For the six |
|
|
|
|
|
|
|
months ended |
|
|
For the |
|
|
|
February 28, |
|
|
year ended |
|
|
|
2006 |
|
|
August 31, |
|
|
|
(UNAUDITED) |
|
|
2005 |
|
|
|
|
|
|
|
|
|
|
FROM OPERATIONS
|
|
|
|
|
|
|
|
|
Net investment income
|
|
$
|
22,266,728
|
|
|
$
|
23,975,071
|
|
|
|
|
|
|
|
|
|
|
Net increase in net assets resulting from operations
|
|
|
22,266,728
|
|
|
|
23,975,071
|
|
|
|
|
|
|
|
|
|
|
DIVIDENDS TO SHAREHOLDERS FROM
|
|
|
|
|
|
|
|
|
Net investment income
|
|
|
(22,266,728
|
)
|
|
|
(23,975,071
|
)
|
|
|
|
|
|
|
|
|
|
Total dividends
|
|
|
(22,266,728
|
)
|
|
|
(23,975,071
|
)
|
|
|
|
|
|
|
|
|
|
FROM CAPITAL SHARE TRANSACTIONS
|
|
|
|
|
|
|
|
|
Net capital share transactions (at $1.00 per share)Note C
|
|
|
67,848,579
|
|
|
|
(49,051,561
|
)
|
|
|
|
|
|
|
|
|
|
NET ASSETS
|
|
|
|
|
|
|
|
|
Beginning of period
|
|
|
1,378,491,516
|
|
|
|
1,427,543,077
|
|
|
|
|
|
|
|
|
|
|
End of period
|
|
$
|
1,446,340,095
|
|
|
$
|
1,378,491,516
|
|
|
|
|
|
|
|
|
|
|
See notes to financial statements.
8
FINANCIAL HIGHLIGHTS
The following table includes selected data for a share of capital stock outstanding throughout each period and other performance information derived from the financial statements. The
total returns in the table represent the rate that an investor would have earned on an investment in the Fund (assuming reinvestment of all dividends and distributions). The 2005, 2004, 2003 and 2002 information has been audited by Deloitte &
Touche LLP. The 2001 information was audited by another independent registered public accounting firm, whose report expressed an unqualified opinion. It should be read in conjunction with the financial statements and notes thereto.
|
|
For the six |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
months ended |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
February 28, |
|
|
For the year ended August 31,
|
|
|
|
2006 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(UNAUDITED) |
|
|
2005
|
|
|
2004
|
|
|
2003
|
|
|
2002
|
|
|
2001
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value,
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
beginning of period
|
|
$
|
1.00
|
|
|
$
|
1.00
|
|
|
$
|
1.00
|
|
|
$
|
1.00
|
|
|
$
|
1.00
|
|
|
$
|
1.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net investment income
|
|
|
.02
|
|
|
|
.02
|
(a)
|
|
|
.01
|
(a)
|
|
|
.01
|
(a)
|
|
|
.01
|
|
|
|
.05
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total from investment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
operations
|
|
|
.02
|
|
|
|
.02
|
|
|
|
.01
|
|
|
|
.01
|
|
|
|
.01
|
|
|
|
.05
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Less distributions:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
From net investment
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
income
|
|
|
(.02
|
)
|
|
|
(.02
|
)
|
|
|
(.01
|
)
|
|
|
(.01
|
)
|
|
|
(.01
|
)
|
|
|
(.05
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total distributions
|
|
|
(.02
|
)
|
|
|
(.02
|
)
|
|
|
(.01
|
)
|
|
|
(.01
|
)
|
|
|
(.01
|
)
|
|
|
(.05
|
)
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net asset value,
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
end of period
|
|
$
|
1.00
|
|
|
$
|
1.00
|
|
|
$
|
1.00
|
|
|
$
|
1.00
|
|
|
$
|
1.00
|
|
|
$
|
1.00
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total investment return
|
|
|
1.58
|
%
|
|
|
1.70
|
%
|
|
|
.53
|
%
|
|
|
.63
|
%
|
|
|
1.44
|
%
|
|
|
5.14
|
%
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
SUPPLEMENTAL DATA
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net assets, end of period
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
(000s omitted)
|
|
$
|
1,446,340
|
|
|
$
|
1,378,492
|
|
|
$ |
1,427,543 |
|
|
$ |
1,607,234 |
|
|
$ |
1,667,245 |
|
|
$
|
1,930,645
|
|
RATIOS TO AVERAGE
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
NET ASSETS
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Operating expenses
|
|
|
79
|
%*
|
|
|
.79%
|
(b)
|
|
|
.58%
|
(c)
|
|
|
.69%
|
(d)
|
|
|
.65
|
%
|
|
|
.44
|
%
|
Net investment income
|
|
|
3.97
|
%*
|
|
|
1.69%
|
(b)
|
|
|
.53%
|
(c)
|
|
|
.65%
|
(d)
|
|
|
1.53
|
%
|
|
|
4.92
|
%
|
(a) |
Net of voluntary investment advisory fee waiver by the Adviser. |
(b) |
Net of voluntary investment
advisory fee waiver by the Adviser. If the Fund had paid the full investment
advisory fee, the ratios of expenses and net investment income to
average net assets would have been unchanged at .79% and 1.69%, respectively,
for the year ended August 31, 2005. |
(c) |
Net of voluntary investment
advisory fee waiver by the Adviser. If the Fund had paid the full investment
advisory fee, the ratios of expenses and net investment income to
average net assets would have been .78% and .33%, respectively, for
the year ended August 31, 2004. |
(d) |
Net of voluntary investment advisory fee waiver by the Adviser. If the Fund had paid the full investment advisory fee, the ratios of expenses and net investment income to average net assets would have been .77% and
.57%, respectively, for the year ended August 31, 2003. |
* |
Annualized |
See notes to financial statements.
9
HILLIARD-LYONS GOVERNMENT FUND, INC.
NOTES TO FINANCIAL STATEMENTS
(UNAUDITED)
FEBRUARY 28, 2006
NOTE AACCOUNTING POLICIES
Hilliard-Lyons Government Fund, Inc. (the Fund) is a diversified open-end management investment company registered under the Investment Company Act of 1940 (the 1940 Act), as amended.The Fund
was incorporated in June 1980 under the laws of the state of Maryland. The primary investment objective of the Fund is to provide investors with liquidity and the highest possible level of current income consistent with the preservation of
capital.
The following is a summary of significant accounting policies followed by the Fund in the preparation of its financial statements.
Security Valuation: The Fund employs the amortized cost method of security valuation for U.S. Government securities in accordance with Rule 2a-7 of the 1940 Act. Securities
are valued at cost when purchased, and thereafter a constant proportionate amortization of any discount or premium, if any, is recorded until maturity of the security. The Board of Directors (the Board) monitors deviations between net
asset value per share as determined by using available market quotations and the amortized cost method of security valuation. If the deviation in the aggregate is significant, the Board considers what action, if any, should be initiated to provide
fair valuation.
Repurchase Agreements: Repurchase agreements are fully collateralized by securities issued by the U.S. Treasury and U.S. Government Sponsored Enterprises. It is the policy
of the Fund to take possession of collateral. U.S. Treasury and U.S. Government Sponsored Enterprises pledged as collateral for repurchase agreements are held by the Funds custodian bank until maturity of the repurchase agreements. Provisions
of the agreements provide that the market value of the collateral plus accrued interest on the collateral is greater than or equal to the repurchase price plus accrued interest at all times. In the event of default or bankruptcy by the other party
to the agreements, the Fund maintains the right to sell the underlying securities at market value; however, realization and/or retention of the collateral may be subject to legal proceedings.
Federal Income Taxes: It is the policy of the Fund to continue to qualify under the Internal Revenue Code as a regulated investment company and to distribute all of its taxable income to shareholders, thereby relieving the Fund of federal income tax liability.
Dividends to Shareholders: The net investment income of the Fund is determined on each business day and is declared as a dividend payable to shareholders of record daily and
is paid monthly. The tax character of distributions paid during 2005 and 2004 was as follows:
|
|
For the year ended August 31,
|
|
|
|
|
|
2005
|
|
2004
|
|
|
|
|
|
Distributions paid
|
|
|
|
|
from
|
|
|
|
|
Ordinary income
|
|
$23,975,071
|
|
$8,116,146
|
|
|
|
|
|
Total distribution
|
|
$23,975,071
|
|
$8,116,146
|
InvestmentTransactions: Investment transactions are accounted for on the date the securities are bought or sold. Income is accrued daily. Interest income and expenses are
recorded on the accrual basis. Net realized gains and losses on sales of investments, if any, are determined on the basis of identified cost.
Use of Estimates: The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to
make certain estimates and assumptions that may affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements. Estimates also affect the reported amounts of revenues
and expenses during the reporting period. Actual results could differ from those estimates.
NOTE BINVESTMENT ADVISORY FEES & OTHER TRANSACTIONS WITH AFFILIATES
On June 22, 2005, the Fund renewed its investment advisory agreement with J.J.B Hilliard W.L. Lyons, Inc. (the Adviser). Under the investment advisory agreement, the Adviser supervises investment operations
of the Fund and the composition of its portfolio, and furnishes advice and recommendations with respect to investments and the purchase and sale of securities in accordance with the Funds investment objectives, policies and restrictions;
subject, however,
10
HILLIARD-LYONS GOVERNMENT FUND, INC.
NOTES TO FINANCIAL STATEMENTScontinued
(UNAUDITED)
FEBRUARY 28, 2006
to the general supervision and control of the Funds Board. For the services the Adviser renders, the Fund has agreed to pay the Adviser an annual advisory fee of 1/2 of 1% of the first $200 million of average
daily net assets, 3/8 of 1% of the next $100 million of average daily net assets, and 1/4 of 1% of the average daily net assets in excess of $300 million. Such fee is accrued daily and paid monthly. The Adviser has agreed to reimburse the
Fund if total operating expenses of the Fund, excluding taxes, interest and extraordinary expenses (as defined), exceed on an annual basis 1 1/2% of the first $30 million of average daily net assets and 1% of average daily net assets over
$30 million.There was no reimbursement required for the six months ended February 28, 2006.
The Fund has entered into a separate Omnibus Account Agreement (the Omnibus Agreement) with the Adviser to provide shareholder and administration services to the Fund. Under the Omnibus Agreement, the
Adviser provides certain shareholder and administrative functions for the Fund, including, but not limited to: (i) preparing and mailing monthly statements to shareholders; (ii) forwarding shareholder communications from the Fund; (iii) responding
to inquiries from shareholders concerning their investments in the Fund; (iv) maintaining account information relating to shareholders that invest in the Fund; and (v) processing purchase, exchange and redemption requests from shareholders and
placing orders and appropriate documentation with the Fund or its service providers. For its services to the Fund under the Omnibus Agreement, the Adviser receives a monthly fee from the Fund at the annual rate of .25% of the Funds average
daily net assets for shareholder services and .18% of the Funds average daily net assets for administration services.
No compensation is paid by the Fund to officers of the Fund and directors who are affiliated with the Adviser. The Fund pays each unaffiliated director an annual retainer of $10,000 and the audit committee chairman
an annual retainer of $3,000, a fee of $2,000 for each board or committee meeting attended, and all expenses the directors incur in attending meetings.
Total fees paid to directors for the six months ended February 28, 2006 were $43,416.36. Transfer agent fees are paid to State Street Bank & Trust Co.
NOTE CCAPITAL STOCK
At February 28, 2006, there were 2,500,000,000 shares of $.01 par value Common Stock authorized, and capital paid in aggregated $1,431,876,694. Each transaction in Fund shares was at the net asset value of
$1.00 per share. The dollar amount represented is the same as the shares shown below for such transactions.
|
|
For the six
|
|
For the
|
|
|
|
months ended
|
|
year ended
|
|
|
|
February 28,
|
|
August 31,
|
|
|
|
2006
|
|
2005
|
|
|
|
|
|
|
|
Shares sold
|
|
2,886,995,939
|
|
5,543,740,554
|
|
Shares issued to
|
|
|
|
|
|
shareholders in
|
|
|
|
|
|
reinvestment of
|
|
|
|
|
|
dividends
|
|
21,384,216
|
|
22,176,963
|
|
Less shares
|
|
|
|
|
|
repurchased
|
|
(2,840,531,576 |
) |
(5,614,969,078 |
)
|
|
|
|
|
|
|
Net increase
|
|
|
|
|
|
(decrease) in
|
|
|
|
|
|
capital
|
|
|
|
|
|
shares
|
|
67,848,579
|
|
( 49,051,561
|
)
|
|
|
|
|
|
|
NOTE DINDEMNIFICATIONS
Under the Funds organizational documents, its Officers and Directors are indemnified against certain liabilities arising out of the performance of their duties of the Fund. In addition, in the normal course of
business, the Fund enters into contracts that provide general indemnifications to other parties. The Funds maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not
yet occurred. However, the Fund has not had prior claims or losses pursuant to these contracts and believes the risk of loss to be remote.
11
HILLIARD-LYONS GOVERNMENT
FUND, INC.
Hilliard Lyons Center
Louisville, Kentucky 40202
(502) 588-8400
Investment Adviser, Administrator
and Distributor
J.J.B. Hilliard, W.L. Lyons, Inc.
Hilliard Lyons Center
Louisville, Kentucky 40202
(502) 588-8400
Custodian and Transfer Agent
State Street Bank and Trust Company
225 Franklin Street
P.O. Box 1912
Boston, Massachusetts 02105
Legal Counsel
Godfrey & Kahn, S.C.
780 North Water Street
Milwaukee, Wisconsin 53202
Independent
Registered Public Accounting Firm
Deloitte & Touche LLP
1700 Market Street
Philadelphia, Pennsylvania 19103
DIRECTORS AND OFFICERS
BOARD OF DIRECTORS
Lindy B. Street Chairperson
William A. Blodgett, Jr.
Samuel G. Miller
J. Robert Shine
Gregory A. Wells
OFFICERS
Joseph C. Curry, Jr. President
Dianna P. Wengler Vice President
and Treasurer
Edward J. Veilleux Vice President
and Chief Compliance Officer
Stephanie J. Ferree Secretary
|
|
Hilliard-Lyons
Government Fund, Inc.
Semi-Annual Report
February 28, 2006
|
ITEM 2.
|
CODE OF ETHICS.
|
|
|
|
Not applicable to semi-annual reports.
|
|
|
ITEM 3.
|
AUDIT COMMITTEE FINANCIAL EXPERT.
|
|
|
|
Not applicable to semi-annual reports.
|
|
|
ITEM 4.
|
PRINCIPAL ACCOUNTANT FEES AND SERVICES.
|
|
|
|
Not applicable to semi-annual reports.
|
|
|
ITEM 5.
|
AUDIT COMMITTEE OF LISTED REGISTRANTS.
|
|
|
|
Not applicable to open-end investment companies.
|
|
|
ITEM 6.
|
SCHEDULE OF INVESTMENTS.
|
|
|
|
Included as part of the report to shareholders filed under item 1 of this form.
|
|
|
ITEM 7.
|
DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES
|
|
FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
|
|
|
|
Not applicable to open-end investment companies.
|
|
|
ITEM 8.
|
PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES.
|
|
|
|
Not applicable to open-end investment companies.
|
|
|
ITEM 9.
|
PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT
|
|
INVESTMENT COMPANY AND AFFILIATED PURCHASERS.
|
|
|
|
Not applicable to open-end investment companies.
|
|
|
ITEM 10.
|
SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS.
|
|
|
|
Not applicable.
|
|
|
ITEM 11.
|
CONTROLS AND PROCEDURES.
|
|
|
|
(a) |
The registrants principal executive officer
and principal financial officer have concluded that the registrants
disclosure controls and procedures (as defined in Rule 30a-3(c) under the
Investment Company Act of 1940 (the 1940 Act)) are effective,
based on an evaluation of those controls and procedures made as of a date
within 90 days of the filing date of this report as required by rule 30a-3(b)
under the 1940 Act and Rule 13a-15(b) under Exchange Act.
|
|
|
|
(b) |
There have been no changes in the registrants
internal control over financial reporting (as defined in rule 30a-3(d)
under the 1940 Act) that occurred during the registrants second fiscal
quarter of the period covered by this report that have materially affected,
or are reasonably likely to materially affect, the registrants internal
control over financial reporting. |
|
|
|
ITEM 12. |
EXHIBITS. |
|
|
|
|
(a)(1) |
Code of Ethics. Not applicable |
|
|
|
|
(a)(2)
|
Certifications pursuant to Rule 30a-2(a) under the Investment Company Act of 1940. Filed herewith.
|
|
|
|
|
(a)(3)
|
Not applicable.
|
|
|
(b)
|
Certifications pursuant to Rule 30a-2(b) under the Investment Company Act of 1940. Furnished herewith.
|
|
|
|
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly
authorized.
(Registrant)
|
HILLIARD-LYONS GOVERNMENT FUND, INC.
|
By (Signature and Title)
|
/s/ Joseph C. Curry, Jr.
|
|
|
|
Joseph C. Curry, Jr.
|
|
President
|
Date: April 17, 2006
|
|
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on
the dates indicated.
By (Signature and Title)
|
/s/ Dianna P. Wengler
|
|
|
|
Dianna P. Wengler
|
|
Vice President and Treasurer
|
Date: April 17, 2006
|
|
|
|
By (Signature and Title)
|
/s/ Joseph C. Curry, Jr.
|
|
|
|
Joseph C. Curry, Jr.
|
|
President
|
Date: April 17, 2006
|
|
GRAPHIC
2
c41408_ncsrsx12x1.jpg
GRAPHIC
begin 644 c41408_ncsrsx12x1.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"`"*`1X#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#^_BBBB@`H
MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB
MB@`HKXUN?V[_`-G]?VRM(_83TS6=8\0?'F\\):MXP\066BZ=#/X;\"V6G:!!
MXGM-,\6ZU<7MLUMK^MZ#K316-S9W.K-ID5_8-<_95=N,R['Y?
M]4^O83$83Z]@Z.8X-8BE*D\3@<1*I'#XNE&:3EAZ_LINC52Y:L$IPBYQC5IM\].;<)J,TTB
MBBBN(Z@HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`*_E._P""H7_!=;]H
MS]D3]M?Q%^SW\&/`'PKOO`WPD3P6_BV^\:V&N:WJ?Q$OO%/A'P]XQU*TL-1T
MG7]'@\,Z?HUOKW_".1_9;6_U"'Q!IFI75]<3P*FCP6/^"O?_``4F^(M_\=OB
M_P#L3_!/]I3P[^RGH'P8^".N^/?B9\4)VU:'QA\5?B4?#NF^(-"_9^\`Z_H=
MM6ZO+V\NI7GN;N[N9WDGN+FXGD>:>>9WEFE=Y)'9V)/]=^"'
M@EA,?'_67C/#8/'X+&913J9?D.(P^-;C3S3V=;!9K7Q5Z&%_9@\3ZTVD:AIW@G2?$-_P"-/A=H]_(M#GWZAX-\;Z5;/*Z:)XU\,RRI8:[I
MZ&>X-I)((=3TB:XEO=#U'2]0*W:_>^(7T<.'L\PL,5P6J'#>:83"JC3P+52>
M4YE[)MT_K,Y.KB<-BY1;C+&Q>(57EA[>A*;E77PG`/TB,^R?%3PO&;K<099B
M\2ZL\?#V5/-,M]I;G]C2A"EAL5A(R2E'!M8>='FFZ-=PC##/_5+HK^:;]EW_
M`(.7/V7O'NCV&E_M2^"?%WP&\:16T2ZGXB\+Z7J/Q'^&-_<(YCFNK)-&CG\?
MZ,9QMN8](F\->(([2,RV[>(;Z6*.6Z_<;X"?MB?LM_M16\\WP`^._P`-OBC<
MVEM!>7^B>'/$=H?%6EVMRLC6]QK'@Z_-EXJT>&;R9UCDU/1K17>WN(P3);S*
MG\;\1\`<9\)SK+/^',TP%&C)QECGA9U\ME[RBG3S+#JK@:B;E&W+B&[RBFE)
MV/Z[X?XYX1XHA2ED7$.5X^K5BIQPD,3"EF$4XRE:KEU=TL=2DE";:J8>+M"3
MU2;/I.BBBOCSZL****`"BBB@`HHI"0H+,0JJ"68D```9))/``'))X`H`6N=\
M7>+_``GX`\,ZYXU\=>)M`\&^#_#.G7&K^(O%/BG5[#0?#VA:7:+ON=1U?6-4
MGM=/TZR@7F6YN[B*),@%P2`?RL_;?_X+2_L:?L966L:!'XPM/CE\9[-+BWM/
MA-\+-5L-6DL-4B4!;?QWXSM_MOASP/!%,T:WUK<2:GXKAB?S[3PI?HK[?XFO
MV[/^"G/[47[?OB62;XJ^*F\._#'3]1GN_"/P4\&SW>F>`-`C\W-E;]I
M\:>);:%5#>)O$[WMU;SRWPT"U\/Z;>OI2?M?AWX&\6\#47K+#I5<9+W?]GA3G[:/]/W[5?_!RW^SE
M\+-&]>\5^+%AN(
M8U%IT*G#[S:NJ;A5QV:8['5L17)F98J=>CGL,JH.I&I2P.6X#`PH45"2E&"JXG#XG&5HMQ7M(XC$
MU85$Y0E'V/\`QGKWC[P1
MIMREE:W7@WQ[8:CH-_X3\/7UY#=2V@\*Z#>V,/A.XNVDF>?P[I,>KW5S#-J#
MS_T=?$[_`(.B/V:+'PK=R_!K]GGXZ>*/&[V[+8V/Q.;P!X#\*V]TZ`)-=ZKX
M5\9_$;5[NW@:-?AYIWAW6;)I_#/C^?2EC5O&.N6OBC1O$5C
M/IFJ377A_0!:>'[^[TJXO]6TZXMO,\6N"O#7!Y/#C+B;A_,,=1X9RW`Y3AL%
MD^)Q&%A6P=/$*AEF"Q*HU:<*6%I5\0J#Q3G"=*E54.:JXT*1ZGA3QGXC8[.)
M\(9_E^#J\19CC\WQ.-SC#4,54I8NK1^L9GB\*JE.)=(T[Q#=S:KI]
MRU?H7117^?6;X^&:9GC\PI8'"992QF*JUZ.78"DJ.#P-&,JTX)5,5B)
M[.K7GS5)1@HTX.7)3C&G&,45SWBWQ=X5\!>&=<\:>./$FA>#_"'AG3;K6?$?
MBCQ/JUCH7A_0=)LHS+=ZEJ^L:G/;:?IUC;1@O/=7=Q%#&HRSCBM]W2-&DD94
M1%9W=V"HB*"S,S,0%50"68D``$DX%?AW-HEE_P`%?/V@-8;7)-2U+_@FK^S%
MXLN-%TO2;6ZN],T#]L?]HC0;CR=5UF[O+22&Y\1?`[X32B2QTLV-Q!HOC#Q1
M*]S%>ZYIJWUEH_;D63T\RGBL5C\1/`9)E=*.(S7'PI*M4IPJ2<,-@L'1E.E#
M$9GF%5.C@L-*K3B^6MBJ\Z6"PF*KTN3.,TJ8"%##X*A3QF;YA4E1RW!5*KHT
MZDH)2Q&+Q56,*DZ&78"G)5L;7C3J32=+#4*=;&XK"8>M[#??\%R/^"6^G>+9
M?!]Q^U-I3WD5Q!9G6;'X<_%W5?"3WEQ-##'#%XKTOP#>Z%);KYRRSZNMZ="M
MH4F>YU6(PRJOZ%_![X]?!3]H+PU_PF'P0^*G@/XJ^&U<0W&J>!O$VE>(8K"X
M)<"TU6&PN9KK2+W]VY-EJ<%I=A5+&$+@GH8/A?\`#2U\,6G@BV^'?@:W\&6%
MNEI8^$8/"6@1>&+.UBC@BBMK30(]/72K>WCBM;:-(8;1(TCMX$50L,87\V?V
M@O\`@F-X2MO$+_M&?L'WNF_LA_M9^&1-JVFZG\/M.AT/X0?&,13'4;KP!\;O
MAEI3Z?X8US0/%=P);>\\06EC:ZQIVI7D7B*^&OS:9:V8]>-+@/,G#"X9\0\.
M8F:4*689OC\!GN5SK:*#QM+`9-D^-RW#5):U*]!9O/#IW6'KI.2\MSXSR_VF
M)Q+R/B##QDYRP.5X#&9'F-.C=-K#5XTN69HM3T*\9W>33;R*TO'35K'4[:W^SJ^7S'+\9E..Q>6X^BZ
M&,P5:=#$4G*$U&I!VO"I3E*G5I35ITJU*T?XC?\)?XS\'P
M1Z?XOU#5_#DGARUC\/Z;XT3S-6\*)!IOB)=22?P[)HFMSW#+-;ZP\-E/!%_3
M=7P;_P`%&?V$_!?_``4&_9QUGX*^(]53PIXIT_4[7Q?\,?'@L%U)_!_C;3(+
MBWMKBZL_,@EO="UC3[R^T/7[*&XAFDT^^:[M774+&R=/M_#C.,CR'C;(,TXD
MP.'S#)*&+E#'T<5AHXNC2IXBA5P]/&O#2A459Y?6JT\:H*E4F_8?NHNKR-?&
M^(.4YUGG!V>Y9P[C:^`SK$82,L!7PV(EA*TZM"O2Q$L)'$QG2=!8^E2J8*51
MU(0C'$-U)*GS'^8QJNJZGKFIZCK>MZC?ZQK.L7]YJNKZOJMY<:AJ>J:GJ%Q)
M=W^HZC?W7,LMQ#
M]5?1-/M+8W&J2:/!J]SI=N[WU[;Q:;:WU]:_C37^GG#_`!)P_P`38-XSAS-<
M!FN#HS5"<\#6A4C0J1BI*C5IJTZ$^1QE&G4A!N#4HIQ:9_FKG_#O$'#>,6%X
MARO'99BZT'7A'&TI0>(@Y-2JTJKVU+0))I(;%OB
M"D4>I:.3%?>,O[2L'U7Q-I?]BX(8!E(96`*L"""",@@C@@CD$<$5_D,5_>Y_
MP;X?MWZK^TS^S7JWP"^)>OSZU\6_V:1I>DZ?JFISO/JWBGX/:L)H?!=_=W$B
MJ;V^\'W-I>>"KZ93),FCV?A&ZU*>XU+5+BYG_BKZ0?A!EN38-\<<+8*G@<)'
M$0I<099AH*PV(J7_
M``7M_P""M/B1/$_BK]A3]F_Q1/HFE:(KZ-^T7X^T*>6VU75=7EC1[KX2:#JU
MO*CV6DZ;#((/B%<69%UJ6I-+X.DN+:QT_P`26&K_`&7`G`^;^('$&'R'*(Q@
MY1>(QV-JQD\/EV`IRA&MBZ_+K*TIPIT:2:E7KU*=)2@I2J0^2XVXSRC@7(<1
MGN;RE*$)1H8/"4G%8C,,;4C*5'"8=2=N:2A.I4J.\:-"G5K234.5_8__``4&
M_P"#AWX0?L]:SXB^$_[*7A[1_C]\4='>YTO5?'^HZE-'\%_">KI#(K16D^CR
MQZK\2[S3KL1P:A9Z%J7AW0E8RI;^+[FZM;BQ'\H'[2__``4D_;9_:W;4+/XV
M?M`>-M8\*7\UZS?#OPY=Q>"/AREI>3"2/3[CP;X1BT?1]<@L(E2UL+OQ/!KN
MKQVZR&;4[BXNKVXN?ARBO]$."?"+@C@>A0>`RG#X_-:48.KGF9T:>+S"==+W
MJN'E5C*GE\6VU&E@HT;0Y55G6FG4E_`'&?BUQGQK7KK&9I7R[*JDI1I9)EE:
MIA<#"@Y7C3Q+IRA5S":2BYU,9*I'VEY4:5"#C2B4445^G'YF%%%%`!7[&_\`
M!-W]OC1?@3_P4E^&_P`8[/P/X4^#'PB^*=CX(^!7Q0\">!FO+7P9I'A_4_"_
M@_P3<^-5CU*^,L0C^('A_2_BWXEFO)M1NT>X\2P6K7=Q=I))^.5%>'Q!P_EW
M$F6X_+,QIRG1S#*\?E51J=2T*&8*BZE2-)35&5>E5PV'K8>M.#JX>I2_'^(*H8B
MC":I5X54ZU.I*E1=/_7HHKY9_8>U_P"(GBG]CG]E_P`0?%K2]1T?XDZK\"?A
MC=>,K+6(9K;6#K9\(Z6ES?:O:7(6ZL=6U4(FJ:EI]TD5UI][>3V5S##/!)$G
MGO\`P4;_`&S=(_8/_90\??'RZT^WUSQ/;2Z=X0^&OAJZF$-OXA^(OBAIX-!M
M;MM\;MIFDVUMJ?BC7(H'6[FT+0-3BLS]K>&O\I*.18_%Y_#AS`PAC(Y-.TV.-I9;+0[N^AU[7[RZGN7U#6-7BM
M;VYU+5;R]U#4+F:^GNI3^-_[(G@#]E/]EG]EKX7_`+<'[8?@JU_:B_;O_;2N
M;CXP^!M!U'PEIOQ0^-'Q$\3>/0^O>#/"OP8\#7%G>0Z,?^$>U/1=0\1>*M-T
MK3K+P_65QXN^)'PS3PWXA^*GQY=E615<;0>;X:E@*L>*
MN+:=5X3,,9EF25_JV,S'+L&Z3P=#&XC,\OP6`P5!TVZ>:9A5I8[\TRK,^*L9
MF*S?"X/)L;F6=0P=>.58BICJ?^KO"U2G3Q.#PV99S1EBL%@,RQ"K/%5\'ALM
MQ^*Q^,JIQE5RS`4Z^!_?>BOR>^"WB[XS?L0?''P'^R9^T%\1M=^-?[/_`,:;
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MM.HN5RE"/Y!?`S3[7X2?\%I_VP_AUX7MKVV\-_M#_LE_"3]IKQ1:01,="LOB
M!X.\Z4^8L=EJ?B2RU2\UFX2.&1]6NQJE[/.C6J1M^R=?E/_P`$_EU3
M]HOXO_M%_P#!175]*U'1_!_QXA\)_"#]E_3-;TV]TG6S^S;\(KO6S:>/+W3]
M2M;74-/B^,7CG5]9\::98W4:-%X?M]#N8UDAO([F?]6*]?C6HWF^&PU77'99
MD>093FO3L_>IXU5GF%.;LW3Q<;Q3T"BBBOD3Z8***
M*`"BOS1_;)_X*S?L;?L57-UX6\=^.KCX@?%V.1+6V^"GPE@M/&/Q!&H3^6MK
M9Z]$E]9Z'X/DE>>W=;?Q1K&F:KI02O&-+U;2-4^)NK?"#P%;1/;N9[^%
M-%\9:=;7+K;)KCI8W$MY]WDWAQQ1G&%HYE.A@OK2SGB;,L%P_EM6+M:>
M'JYC5HUL93;:BJF"H8F"D[.2U/B\XX^X#FHWGR8VKAYR@FX*6B?]/5%?R;ZS^QU_PR*ES9:'\5H?AM<:7OF:00K=?L^_#"6>U,,/DSEK/4);B2TG@!EGE::-/
M"/BW_P`$A?V]/`6@>%]:_:3_`."L?@[P9!XW\0Z'\.=.N?B%\=/CQ-H&K^-?
M$$.HW^F^#=,USQ4=*35+B]&GZQ=6,-S8V#7,-G>7CV=N$F"_3X;PQX<I@?##BR
M6'IQ4IU\XQ>19#%&;;PAXKN/&K:>G
M@V#PWKLWBUM6*+I2^&8M+NGUYM3:4K&NGKI2W9O#(RH+82%R%R:_R3];?2)-
M:U>3P_#>V^@2:IJ#Z);ZD\4FHP:0UW,VFPZA)`6ADO8K(P)=/"S1-.LC1DH0
M:_J&UW_@V5_:Y\4WJZEXF_:T^$OB+44@2U2_UV/XFZO>K:Q/))%;+=:AIMQ.
ML$;Y?0POU#Z[\,6L8\1.K]);R:%+PUKY/2R:>82A5J9_D6.Q&*6.6"23Y:V%6%C3^JWE3C4Q$:LIQD
MY1=%7_E_HK^EI_\`@VG^,L?BN+P')^V'^S*GCB?2SK@QYO%2^*YM%$DD1U
M>+PZ;$:O)I8EAEC-^EF;0212(9=R,!TW_$+E^TQ_T'/&NOZ#H
M'A?Q!-K_`(5@U.VT>>W\4:5%JMM!%%J]O;7JS6T4HBG+Q!&<$QL5-?(%?I&6
MYE@LXR_!YIEN(CBL!F&'I8O!XF$9PC7P]:"G2JQC5C"I%3BTTIPC)7UBF?G&
M9Y9CLFS#&95F6'>%Q^`KSPV+P\ITZDJ->F[3IN=&=2E)Q>G-3G*+Z285^P?_
M``0B^+^I?"7_`(*8?`NVMKJ*WT;XL6WC'X0>*8Y25-YIOB?PY>:MH=K$_FQJ
MDH\>>'/!]RH=9A*ML]ND7G312Q_CY7T]^QC^SYXT_:I_:>^$/P"^'OBE?!'B
M[XA:_?6NE^,'^V$>&8M"\/ZQXIU76PNG7-G?2/IVC:'J%S'%:7=O/+)&L4-QI@L!F'"'$^"S/$4\'E^(R#-J>,QM6E*M3P-#ZC7E/'2I0_>5/J27UI
M0A[[=)*'O6/8X+QF-R_B_A?&9=AZF,QU#/\`*987!4JM.C4QM5XZA".!C6JM
M4J3QG,\*YU&J<55;FU%-G^J517\"?B/_`((\_"R\;6O%'BK_`(*C_!C4;FT^
M/D7[,>OZQK/PY^)NHZC#\>%M[Y8/`&J3W.IW%_\`V@+71+Y(=7N<^'O(T]UC
MUC9&@KZQ_P"(67XN_P#1W/PX_P##9>)O_FFK^"\1X8^'&!C2>8>,$\#*LFH+
M$^'/$E&,YPC3E5C2G7Q=%U53]K3%8=1VFPO/'>L26_AKP!87B,R&6TO\`QKK.@VES"C>;
M+!-)'$&D90?\M;6=8U7Q%K&J^(-=U&\U?7-=U*^UC6=6U">2ZO\`4]5U.ZEO
M=1U&^N96:6XO+V[GFN;F>1FDFFE>1V+,37](WQ7_`.#=9O@99>$=1^+O[>WP
M9\`V/CWQOH_PV\'W6O\`PZ\5V\6O^.O$%KJ-YHOAFQ:/Q!-NU'4K?2=0>U60
M1Q.UN8O-$TL,#?#?B_Q39?M(_!O7-/\+>'=:\0QVTN@>--)
MU'4X]%TFXU.2S$7V74;.SGN6MGMH7>_GA7$N:^$WAE@"/'M
M'.,5Q#BZ4J>:5N&L[R>G4PV"BJ-/!4/;4<93J^PQ.(KU*U2&)2YJ\(5*4714
MY?C7BGDWBQXE8O+V^!991A(P'DXQI5)PJ-5I1C_,Q1117]7'\JA117[K^#?^")-X_P"R/\(/VO\`XU?M
M:?#[X)>"/C!8>!KW2=,N?AC\0OB)=:9)\4=6BL/AUI]W-X*^UWDMYX@MK_1K
MB\=-&CL-"N=0EL]0OA#8RW\GSW$'%60\+4\#4SS'/!_VGC(X#+Z=/"8['8C&
M8R<)3CAZ&%R_#8K$U)N,7:U+EYG&%^><(R^AX>X4S[BJIC:618%8QY=A)8['
M3J8O`X&AA<)&<82KUL3F&)PN'A%2EJG5YN53GR\D)RC^%%%?TM>`/^#=#4/B
MCXG^*G@WP+^V]\.-<\2?!/Q?;>`OB=IO_"F?B-IG_",^++S0M.\2VVE?;-8U
M'3[#6?,T35M/O?MWA^ZU;34^T?9I+Q;N*>"/W=/^#5SQ<40R?MJ^'$D*J9%3
MX$:G(BN0-RI(WQ7C9U#9"N8XRP`)1"=H^&Q'CGX682:IXGBGV%1PI5%3J9)Q
M%&I[.O2IUZ%1P>4><.2A[2C4G1JPYEF_+STJU.=*K&_-3J0G":C*+2^@/^#?[]B#]E5_V48OV
MFOBUX6^%WQ)^*'Q9\3>,M*TQ?B)I_AWQ'#X"\%^$M;O?"":+I>A^(UO;'3]5
MU[4M+U?6=5UB.SBO[[2-0TC3A*EE;R"[_1'P]_P1X_X)B^%OVCX/VE-&\!Z#
M:ZS876GZQHGPL'B_3#\$-`\5Z=<2W,7BS2?A^(U"7QF>&1-!N]6O/`MA-96=
MSI/A'3KN)IY/QP_XA6_%?_1Z_A[_`,,+J7_SVZ/^(5OQ7_T>OX>_\,+J7_SV
MZ_G+/LRX,SCB#B+/,-](7.,JAQ#/$4JV!PW"?%3I4GB,/"K0PM
M#EP\9JA1=2*J2<(NM54OZ(R/`\991D/#V28CP#RG,WP_3PU2AC,1Q;PJIU,T
MITX+$9K&G4PV(E1Q.+Q'/B9)UJKIS<$JDO80DOZ]/^$N\*?]#/X>_P#!UIO_
M`,DU^'G_``7,_9?^,7[
#/$>BVWBW7I=0U$:C=:9I,NJ7,=S#X=TS7=;V7;)8Z/>SS1PM^9W_$*
MWXK_`.CU_#W_`(874O\`Y[=7K'_@U7UJ21QJ?[<.EVD03,;V/[.MWJ,C2;@-
MKQ7'QMTM43;N/F++(VX!?+P2R_.<-91X6\*9YEW$.7>-&'J8[*ZLZ^&CBO#G
MB6M0]I.C4HJ52E2QM*<^157.*4TN>,7)2BG%^]Q#FWB7Q/DN/R',?!RO#`YE
M1C0Q+PWB)PW1K^S56G5<85)X.I&'.Z:C)N#?)*2BXR7,OVI_8F_8Q_9R_81\
M(>%/$GQ*^-^A?%CX\:-\/-)\`S_''XM>.]/>3PIX$\-:;:6%K\./A#9>)M=N
MH/AO\+O#MC%:V-OHVC3Q37=K%;RZUSBM1XW_:\^(?B&9&G^VR>%?A;X;\&Q7"L[FV%K#J_BOQT]FT,
M9C6=II[X7#H\D:VJR+'%TR_\$@?^",?[.OA30?''Q-\=_%7X_P"@>(?CMX>_
M9ZBU`_$PZUH^F?%KQ'JSZ!;^"M=?X$:-X,;PDNEWT,C^(+CQ/K-M)I$VR*ZO
MHY;_`$O3KC@S'*_#C/,SQ&/Q_B%QEQGF.)K*')D7!,L%5J2J5).E1PM+,L;3
MP^'HJ*J>PPL*="G3CI3I04)0/3P&9>(659;A\%@>`N$>$L%AJ"FYYWQH\91I
M4Z5*$:D\34R_+)UZU=/V:K8NI6Q$IR3=6K4_!9/
MAO\``'7/$OQJ^+/AGXL_"/XF>!?%6B>&=<\(^#/!7B[X0?$_P]XT&KR>)O&>
MDZ3J5\]W8:%J>@6D_A30=9L]0M-=FEM]9M+=UO*^Z_$GC&/_`(*Z?%&+X4?#
M+6[U_P#@G3\(]1TC5/V@/'^CRR6<7[4/Q/M'TW7]#^`?A/55B)N/AGX2"V^J
M?%C6]'NGCUVZN-.T'2[V&!K35Y_'?VN_^"<'[)?B:;P5^P9^R3^S;\(O`/Q$
M^*!T'QI\*^NO$$?C'Q6-:\06/CKXK^*-"_X0
MCX;Z8-52]\06>E^/KYI(M(\+:ERYN-3UK5[V6XU36M5NV>[U/4[NZO;AVEF8U
MR9YG/`^1\-5X>.?5*.#I4\-A<9
MSY=6IY#AZ45+"R=;.IRE5_LRM4[(,\7%./R/$9)4PN48;%TLAPF*
MPM"OBCW7AO4/,T'XF_&K57ETSP?XC,G@SPC;:OXLTSQ&^@<-_P5
MJ_;MUC]GCPAX`_9A^`^LV*?M@_M=^(-&^%OPG\RZD@7XZW:VVHV_A+4[";P_PKXH^'?B__`()3ZM^R
M;^WIK'P?_8&\:ZQH'Q*_9VL='\;ZMX?\/Z(;SX>^(KRQ\(_%+P#X.\4>-;3Q
M'XL\/PZCINDZ^E_>ZXEUXPU72[WQ+::]#Q./S7A["XB?MLKRJMC\RE&M/`X2IB94Z4L%D=?/(U*=/*J^*6
M(P]?$.52CB'A*]!X>I:5=T_0?V3OV9O"G[(O_!0SQ)\`/A;^RWI=G\"C^ROI
MWQ6T_P#:CUGP1KWB_P"(NL_&:\^(RZ)K/A_QG\>_$D6H0OJNN:5)KNL6W@S1
M+_0XK6"P%_;Z%):W$LMC]L?M[_MQ>"OV`?A%X2^,OQ`\&^*/&/ACQ+\6_"'P
MMU`^%_)#^%8/$^G>(]7NO&&M-)%<2MHVCV'AF\B^RV=M<7VI:O>Z1I5LD;WQ
MN(?DW4O^"VW_``3*^#7AWPYX/U;]JM?B=KWAWPYH^DWNJ^#/AY\1/$SZ]<:3
M;)H]SK$^K:1X5D\)QW>IW5A<:A-:0Z^[)'/'<1*]I*?AI\9?CGX9NM0CFN=$G^"O@#6_#[3Z7-'=:=JEQI'Q1\>>&[64Q
MW*K/ITHLY;ZUGB$KPVKA'/M+A/CKB;/LKS7./#_B[-\)3HX3#YI.5#-L%B,[
MAAHRA5QO]I9E1_V?$8J/+--)TE.*BH^](\2?%7!?#N39EEN6\><)97B?:XFM
MET%B,IQ5')G7G&=+!_V7E^(A/$8?#3%?^"D_P`=?COXTTSX@?#+Q+\7?C'^UWX5TWP3LHDUU+%X%M?1_B7\'O@3_P
M5M_96_9U\:ZM??%#P7\/-0\:?#C]IWP`+)O#.A^-[75=!TSQ#8:7I7B:VEB\
M;Z`L,^F^)M7M-4M+"ZOU69H)[+5"85=_S-U__@Y:_P""=GBO0M:\+^)O@9^U
M7XA\-^)-)U+0/$.@:U\-/@AJ6CZYH>L6?'J:TU#3=2L+FXLK^
MRNHI;>ZM9Y8)XWBD92WP-_P<>_\`!-7P'X-L/!W@CX'_`+2G@/PEX*T;3]*\
M)^"M"^%7P=T?2H--MYX+.#1_#>FZ)\:FT?3HK"WD>]>.]ETJU-M;W`@FN-0D
MAM+COQ'`OBM5Q']O+@WB'#<5QQ^"G1S/!4L-1PU/!8?+H9=&E'"4I-1Q$I4Z
M,ZE9+V3I^V=2,4Y,\^AQUX7PH_V-_KAP_B.&W@L8JN7XVK7JXBIC*V.>8.K+
M%UU[]*,958TJ+_?>U]E[.52:C&/]!WQ.^+/PQ^"OA.Y\>?%[X@>$/AEX)L[R
MPT^\\6>.?$&F>&?#MI>ZI<+:Z=:W.L:O<6MC;S7MRRP6R2SH9966-,L0*E\/
M?%/X:^+?&7CGX=>%_'W@_P`0^/OAB^A1_$7P7HWB+2M2\4^!G\3V#:IX<'BO
M0K2ZEU+0AKNG))>:2VI6UNM_!%,]L9/)EV?RZ?MU?\%@?V"/VU_@!\2OV>/B
M?\'/^"AO@#PYH'C'PG+\0];\-_"'X,VVN>!/$'AOQ0_V'0O$R^(?C)?V/AR]
MOM9TR\T5['7+6UO3?6US:0Q_:K:6$5_@#_P5O_X)C?`[]J#]J3]I&Z@_;(\,
M?$#X_P`'PQ\-^(_`OQ%^%G@6"U\*VGPM\,0^&[1=)MO"GQ`UNZ:XU&*VLY-1
M/B"[@O+:Z@F6SM([:Y8UYM'P=XE>18C%5\BXF_MVG'&.AEV%RZGC,/5E'$\.
M_4%*K0J5*D8U\#CL[Q->5FJ3P>7[1QD54]&IXL<./.L/AZ.>\-K))O">WS#&
M9C/!5J:G0XB^NJ,<33I492HXW`9-AZ$7-.LL5F5KRP,E']\[K]B/PK/^WSIO
M[>T7C;7H?%5G\"9?@?=>`'L;6XT"\M7UF]U2/Q)%JLEP+ZQN8X+J.S?2X;5[
M25X#>^:D]S.K(K&TN[*6.]ETFZ=H;I/BS_B)`_X
M)P_\_/QT_P##6P?_`#44?\1('_!.'_GY^.G_`(:V#_YJ*RI\%^*4G+^T>`<\
MS90R"IP]@5CLDK3_`+-PK4EA:^$Y:,>7%8&4YRPU:?-4@YOW](N/1/B_PUBH
MK`\=Y!EG/G5/.\8\%G^!I_7\3S1>(I8KFQ$N;#XQ1A'$4H\L9J"T2YD_Y\O^
M#C^-$_X*/W3(B(TOP,^%LDK*H5I'$WB>(/(0`7<11QQAFR0D:)G:J@?@E7ZG
M?\%A?VO?A#^VY^V!+\;?@D_B9_!+?##P1X2#>+=$30-6_M;0)M?F0^8-B[03^6-?WUX:8'&99P!PCE^88:M@\=@\CP5#%87$TY4J
M^'K4Z:4Z56G)*4)Q>CBTFC^$/$S&X/,N/N*\=E^)H8S!8K-\16PV*PU2%;#U
MZ4N6U2E5IN4*D)6=I1;3[A7]/_\`P;+_`++%[XR^/7Q/_:TUS3V7PO\`!KPY
M/\.O!%Y-"#'??$?Q_9C^WIM/G(;$WA?P$+BSU2/]VWE>/]**-(C3JO\`,!7]
M>'[&W_!=G_@GI^Q?^SI\.?V>_AU\`_VG7TSP;I9EUW6YM)^%CZAXN\::LYU#
MQ;XMU*9_B>)'N-:UF:XEM;8XATG28]-T.Q2#3=,L[>+YGQL_UHQ?!6+R'A+)
M<=F^8<02^H8JIA%2Y,#ED7&IC9595*D$YXR"C@J=-)\U*OB:G-"5&*G]'X+_
M`.K.$XQP^?<59U@,PE+%RJ*>.S*I&=+"1IQA3G^[P;<\94JHZ1'/XK^&_@O\/(M-T:^UJ34?'/BN1HM)MKQ+!)'T[3"ZA;O5KA
M19V;2PB=U,T8;\,/^(H+]C/_`*(3^TY_X*/A7_\`/0KQ?XP?\%^_^"9OQ\N?
MAI>?%W]D[]HOQK=?![XB:)\5_AO/?6O@.QD\+^/_``[YAT?7[J_;]&NI8[>6\TZXEM;9XOX]CX9^*F:XW!_ZU\-\7YEEV'^LMPHXG!U
M,73E5PT:<7AGB\3*C#GJX?!K$-J\Z-%VO-1/ZYEXD^&.6X3$KAOB/A/+\=7]
M@E*I0Q%/#5(TZ[E+ZPL)0IUJG)1JXGV"YK0JU%>T')']$O[3?[)7PB_:UTSX
M6Z5\6X/$4MO\'OBYX6^-?@V3PWK;:+/'XR\(6^IVVEKJ3&VNX[[1Y$U6=KRQ
M,44LKQ0&*[@595E\+_;.U;]KW_A=O[%W@CX"^'I-6_9^^(?Q!\?>&_VP]1M?
M#NA:WI^,M0NM5T.*WU)]9T3P]8MJ,=G
M=76DZW^6W_$4%^QG_P!$)_:<_P#!1\*__GH4?\107[&?_1"?VG/_``4?"O\`
M^>A7/@/#7Q:P<\&J_!&89IA,!0S6C@LOS&-#$8+#3S;"5L/6Q-"C];BJ>(H5
MJE/'X>I%KDQV&P]9J3A9[XSQ(\+,2L1*CQGEV7XG%XC+*^+QN`J5)1K/@[7]0\.ZH%BD)>,"^TZ?$;DN@^5B2#7#5]T?\%(
M/VBO@W^UC^UU\2OVA/@?X.\9^!?"OQ+C\.ZOK&@^.DT.'5_^$QM-"LM(\1ZG
M#;>'M4UK3[>SUB?3X=2*'4[F>74+G4+J3R!<);P_"]?Z*9'BL;CX7`X+.LUP
MF68NEC\NP^88NE@,907
MEELN9+"'6],DMM1M8VC,ZQ,8+B&5(;E/\W2OZK/^"";#P%<:'<^']6\8Z]XCT"UCDUSQKX?U#S
M]*T_68])D633@HCL8BL\^2]?BWT@.&.)^(LAX=K\)87%XS-E1CS1FIJ5:$HIV;7[)X"<3<-\/9YQ#2XHQ>%P679
MID7U?VF.BYX6M.GC*'-A*D%&IS.O1K59J,H.$H4:BDT^52_IH^+'[&_@>\^`
MW[<7@+X':!H_@WXC_MF^`_C''XMU[Q#XD\8WF@:U\5?B-\,=9\!:;XFUS[7<
M>*9/#FCPR7>G_P!IVO@[0H[6WLH)[FRT"[O/W4_YU_LI#X_?L;?LE_LB?L;_
M``.OOA5\?_C)\%_VS_#GP5_;5_X5I%XH\?>'OA!\&/C!\0_B=\6/%OBH7=_;
M>`-4T75?#WA;QAX-4ZWK.B7&E:?K*>(M*.F:M-I%ZUM\&?M2?\',_P`/O$_P
M0\:^&?V5?A9\6_!7QH\1V#:)X<\$K3_`J:%X*M]122WU+Q1I]KH?C#Q)-J
M/B?2K9S+X:M+_3FT:/56M[_5EOK.RDTC4OYQ/AS^V;\5/V:M4\;ZW^RW\5OB
MMX4UOXY_""R\(?'G7O%]UI-[KNK>.=5OGU7QCK_A/4[.6YN+:2'4'NCX.\:Z
M@R>/=)@U[Q"XO;6_OVO&_'>#?"#Q#S7A[,L#Q)2I8.,\XP.99=EF?TIXOZ]C
M\NRZIE,:^9XVA6JXC"Y=A,IQU>EE]"FJDZ^,H48M4A"AC,PQF:8&C/'U:DJ4<
M/@ZU6IS5J^)_=?Z<&@>-O"?Q%TKQ._P]\9^'_$+:!KGB'P-JVI^'=2L=<@\.
M>-=!/V36-$U$V'[R6)-3TN=DN+6;$%S'&Y*CXO^$,'AG_`()@?L&^
M'H/VK_V@]5\=^'/@?_:W_"??'G6_#?CG6]4U7_A9?QDU-_"WVKP]I<_Q&\:7
M7V&_^('ASP;#Y$VL^3;V<5]+_9VDQ2)8_P`>7_!+#_@K!X&_X)T_$3XM^']3
MT;XN_$?]FOXG:)X9UQ=%,/A5OB%I'QATG1]'M-9\56EC<>)=/\-6^C>(9Y?$
M>G7\*ZO<:MW]B/\`;'_9^^)7[-GCOX"_
MM4:;X#^(J^?ZOX2\1?"3PSXN1_!WC/PWX]TA;.\UG_`(3[1M-6ZUSPOI]I
MJ33:+KA.E37JVJ17;P7$'S&+\#^,\LSZ'#U'+,USC@C&9MP]F689M@,+EN&S
M&6#HTJM+$2HQQDZM;"8_`8;-,THO!\U3#5<0J-:O2Q'LJ#I_28?QGX.S+)*F
M>RS/*LJXQP>5Y_E^`RO'XS'U\OCC:M6E.C&M+"QHT<7@,=B-;/0-9L=/UBSTUK74K%KF#5;*PU'3YKF.TU"RM;O=`ORM_
MP4]_:+_:Y_9D^`?A'Q[^QA\"?^&A/BCJ_P`7]`\(Z]X,_P"%8?$WXL?V9X!O
M_!GC_6=4\3_\([\*=%M*_MJ]O)=%MO[:^PW%L]]J6G2P_S-
M?##_`(+%Z#IWC3X)Z_\`LR?\$[OB=\2O&O[,7[.'AS]EKX>^+/$/QDUWQMK8
M^%.F:=HL,SI)+<\:\(%K.+P].NZZKP5))4XR[)>*64\0Y-BLO
MRS&Y[B7EQ#:VEK#+?\(5HFI>+?'GB+4+9/
M!W]AVMO=Q>1Q?AC_`((Z?ME?M176DZY_P5!_;W\>_$;P_%-%=WWP&^"NJ7&A
M^!KQHKMKB.WU/41HOA7PG;FXA6*WU7^POA=%J2QR36ND^*X!;6>HU^Z7[/\`
M^S=\#?V6?A]8?"[X`_#;PY\-/!=BRSOIVAV\KWNKWXACMWUCQ+KVH37FO>*-
MIZI-#%#"]V888HT^,G+AS@[#XK#X/B:MQ5FF(GAI5,-D=/%
MY=PS1Q&!K>WPU?$YKBX8;-:S3DYJ53[&B\^XIQ&$Q.
M+XKC<;F%112IRR
MR-6U:@WX$?!.R^#'AS5A?Z_?>/?B7X[UG_A,/B[\4];MK6VU[XA^-IK&TTYM
M0FMK-%MM&\.Z'I=C8^&_!'A*P_XE?A'PGIFF:+9F=X;F]O/<:**_.L1B*V+K
M5,1B)^TJU7>4K1BDDE&,(0@HPITZ<%&G2I4XQITJ<8TZ<8PC&*^[I4J="G&E
M2CRP@K15VWJVW*4I-RG.4FY3G-RG.;E._LJ?!
M+QU\<_B9>21>'/!>F"6VTNS_`'FM>*_$=_*EAX9\&^'+0*\E[XA\4ZW<6>CZ
M9;I&Z1RW)N[LPV%K=W$/O%?C1X7T^?\`X*)_MV>(O'GB`BZ_9$_X)W?$FY\&
M_#'PU-`EUI'QA_;&TBSV^,/B3J9>6:PN]'^`\-[%H7@V%+62=?%&HOX@LM6A
MC;4](;Z'AW*\+CJ^)QN:3J4LDR?#K'YK.D^6O7I^UA1PN6X234DL9FF*J4L)
M1GRS6%ISKX^I3GA\'72\7.\PQI8?"Y?"%7-(J1HX*G4A7Q=%GX']C[]IKX@:[=>$OV\
M?VT/VIM.\/K'J'B_6_#7AG]G/3=6T9-4^`OPL\.7ND?:IO#DOP\L=`FU76-;
ML;6[\7GQ.UPMC'?ZU;WEQJGU5\*?^#8KP]K4MSXH_:R_:S^('C?Q?K4L5[K4
M'PITNQTV47SG-])<^/\`XE0>--4\32W`PL5_=^#M#FC*[YK>Y!"+^XO_``4>
M_9;\1?M9?LO>(O!7P[U2+P_\;/`'B/PQ\;/V?O$LAM(VT#XT?#&\EUCPE/%=
MWD,T.FOK$$NJ^%FU1EVZ;#X@FO9DN+:&:UN.7_8&_P""A'@7]L'PM=>#O%EJ
MOPF_:P^&C2>&OCO^SUXHW:+XM\->+M$46FN:OX=T?4I!J&L>#+V\BEN;&\M_
MM5QHR2IIFMM'=1PW%[^Q/Q2X^J<$X7$\,9A2RZCD^+Q^!SJAEN!PL\7E&6XC
M$4L1D4:%6O2Q.(PG#\*,POMOR>7AIP,^+\51XCRV
M>85LUPV"QF4U\PQ>(A@\UQ^'P]6AG,J]##U,/A<7G\IQ_M+$SQ$9U*^&QKG@
MJ,:>"Q?LOF?P=_P;X_\`!+[PQ916NM_![QK\1)XXRCZCXQ^,?Q+L;V9BVX32
MQ_#_`,1>!=/$BCY`(;"&';R8B_S5\[_M#'_@B?^Q1XZ^&GPNU3]D[X2^/O
MCS\5/&'@CPEX=^$NFW6K:K?Z-I7C?Q)IV@GQIXV&KZQK%AX9T*R@NY[S2Q>6
M$FL>([JW6ST6V6T;4=8TO[S^(O[6WQ*_:4\?^)OV;/\`@GW>:+?:EX4U)_#_
M`,=_VP=7TY/$GP=^`ERI0:CX2\"VJS1:?\7_`(YQVT@DA\-65[_PB_@^2:SO
M?%U],'ETZ'\`/@G^QM\,?VP?^"PMI-\#W\2>.OV=OV++OP=J7Q\_:#\;>)KS
MQ?XA_:$^-OA#Q'KGBN\U_7?$\B1P>(?$?C?XBW)\.R+I26?AH?#OX?7EWX?B
ML-$_X1W2[C3A:MQ+FE3-,TX_XZXPH8#)LCQ>>U\KIY[F=.M&G*%..6TLPE+&
M4Z65_P!LXRKAJ&6Y=3C_`&GF,'[>%'"8-X?&5EQ'0X>RJ&68#@;@KA*MCLYS
MS!Y+3Q[R7+E0%]6TOPO\1O"/AD67B#P3XDFM)#H7B2Q:VN[9[M=)U1;6[N]+DGCM
MM6LX[C3;EE@NG8?JG17X]0XSXOPU:CB*/$^?QJT*M.M2E+-\?4BJE*<9P-]0\(Z9^S])\2=-AO7M]'\<^
M`/&?@B]\(^(+4%!'J-O+KOB#0=;T6!R^QK?Q7HN@7L;QRL;=K81W,OYB_%CX
M8>*_@K\2?&GPF\=II$'C7X>Z_?>%?%MEH>O:/XGT_2_$FDN+?6M&&N:!>:AH
M][>:)J*W&DZI]@O;J&UU2RO+/SG>W_#
M?P#J=_X:MKMXH[6_\;ZO);^&_`6F7#3!U^SZEXTUG0K&X`CFD\B>3RK>>3;"
M_P#EG:KJNI:[JFI:WK%[2M/>:AJ6H7$EW?7MW.Y+S7-W=
M32SSRN2TDLCNQ))K^\/!#Q$XP\1L+FN89]A(Q$JL:=2O7KSC3P,E-N=1U)
MT****_>C\)"BBB@`HHHH`_<[_@@]#^R/\0?VEO$_[.W[5WP<^&WQ*7XR>'[*
M3X0:YX_TFVU!M!\>^#AJU_=^%=/FF\L0KX[\/W][*HFG;SM8\)Z+IEC"UWJ^
MV3^OWQ'_`,$R/^"8?A#P_K?BOQ5^R=^SMX<\,^&M*U#7?$/B#6_#6FZ;H^B:
M+I5K+?:GJNJ:A=W$5K8V%A9P37-W=7$L<,$$3R2.JJ2/Y5_^#VMU)82`RV9@D=W;]W_`/@X-^)WB'3_`-D?X>?LU_#Z^#?$K]KSX[>`
MOA/I'A^WU/\`L_4]8\-VEX=;U3R4C1[FYTZ;Q?'\/O#FK1IY4#V_B=8;N62&
M5K&]_B+Q;>89MXTX+AC(L_X@R9YA#**>VKYMS4,+5C.NH8:OAX.,%043^=3_@J=^TU_P2Z\?^
M\%OV"_V4O#>C^)-'\80:OK'[1.C>'I?`]A)IF@6NHQWND^"M&MKMM:\3Z+K$
M=U*^I:EXNL=&TRTAT]+[3M$U.O[.?B5=
M;\(^%/&7B8?"WQ')^T+\9_%NCVNH:MXJT1O"L[_$;3=/;5//?PK\-[G38-0@
MA\'Z=<6]I-I*1R>(;C6=7>\U6Y_S;J_;O!7BW(L]PW$.2<-T\_Q&5<-XK`QI
M9[Q%F5;,,=GE;,8XQ5<2H5E_L5*']GPE3PM-P@J=>G5EAL-6J58/\5\:.%L[
MR7$\/9WQ#4R.AFG$.&QRJ9+P_EM+`8#):.6RP4J.&]K3DY8^M+^T9QJXJK%S
MYZ+I0K5Z%.E)%%%%?MY^(A1110`5^DW_``2^_93_`&9_VR_C\_P0_:&^-_BO
MX+ZAX@T^U;X7_P#".Z?X<\CQ[XC2XE74?![^(_$D]MJ::38:Q^;-7-.U'4-(U"QU;2;Z\TO5=+O+74=,U/3KJ>RU#3
MM0LITN;*^L;VV>*YM+RTN8H[BUNK>2.>WGC26)TD16'DY[@<;F>49A@,NS3$
M9+C\3AY0PF:X6G1JUL%B$U*G55*O"I3J0YHJ%:#C&4Z,JD:=2E4<*L/6R+'X
M++,WP&/S'*\/G6`PU=3Q>5XJ=2G1QF'E&4*E-U*4HSIU%&;J49WE&%:%.52G
M5IJ5.?\`I*_`/_@C-_P3I^`7A6U\.V?[.7@KXLZDK6<^I^-/CSI&D?%?Q/K5
M[9QK&+J>/Q#IK^&-'CN"N^[TKPKX;\/Z)D>ZM@PM[EWTCPQ9LT\`9A#,Q,D09@C+DY^'
M/^"-W_!0:']O/]EZSG\8:C!)\??@R=*\$_&.TWQBYUMY;6?_`(1+XD1VZ'*6
MOCK3].O3?82&./Q9HWBBVMH(]/AL6E_7&O\`+KB_&<;9?GV<9/Q1G.2>&K4G2K86481IRP\Z4J<8PY4O\`3/A3"\'X
MW)1^2?_``0IGCU'_@F9
M\#=>N;N2_P#%'B7Q3\=]>\>WMU'#%JEWXSO?CS\2%U*?6$C9G&H/9PZ:2UR5
MN);06DS0VZ21V\7Z\U_/])X]U[_@CU^U+\2XOB%HNN7W_!-O]K#XC7OQ+\/?
M$;1M/U#6++]E?XY>,)($\7>'?%-I9_;[NQ^'_C/5DAO=,DB@MK.Q6>R31;2Y
MO-,\3B]^XX:PT\ZR#B+AG!1C/.<5C%I3^/S^O'*<[R+B'%RG#*<+@\YR7,:ZYO8Y>\XK
MY+BL+FF,L^2G@J-7)G@L1BI1:PCS&G7K3HX.&+K0_H!KX$_:_P#^":'[)O[:
M][9^)_BOX-U7P_\`%+2K!M-T3XU?"W6W\"_%72K/[--;6]N_B"UMKS3_`!!;
M:>D\C:79^+]%\1V.FEYDLK:"&[O8KG[1\$^.O!?Q*\+:-XX^'GBSP[XX\'>(
MK*#4M"\4>%-8L->T'5[&YC66&ZT_5-,GN;.YB='4[HIF*D[6"L"!G_$OXF_#
M_P"#G@?Q%\2?BCXOT'P+X&\*:=<:KK_B;Q)J-OIFF6%I;1/*09KAT\^[G*>3
M8V%LLU]J%V\5G8V]Q=310O\`.Y7C"G7H8WVE27
MLIX5PI\M2?M9/V-3#2C*-6[I3IR3<7[V8X/*'OV._V>-,^!_P`"
M_P!MK_@H'JWB_P"-7B9_AO\`LW_LRZ!\<=&T#P5XL^).O?VOJ-Y?ZUH6@>!K
M.#2_A;X2M]6UGXC?&6>P71--U#2=->?5+^WUZ?0+ZW_<3]@W]C'X>_L)?LX^
M#?@5X%BM;W4;.,Z[\1?&26B6U_X_^(>IP6XU_P`37YVB8P#[/;:/H%I.SOI?
MAK2](TPO(]K)-+X5^Q;X'\6?M!?$?7_^"BGQNT35=%UCXB:%/X1_9*^&/B-%
M$_P3_9IEO9;FP\2SZ;@PZ;\3?CZBV7C?QG>@S:EIWAB7POX.-ZEII]W9#]/Z
M^TXTXNS[&82'#.89M/,:M+&RS+B+$0CAJ<,9GLJ?LWAI5,)2I0QE+)X.IA_K
M,W5^L9C5Q]>G6KX18&?Y?E4,!">#CEV1T92Q%26$R53]HJL
M*>*J5)X.>:25.O+#P5+V."I8&C5HT<5'%PD4445^:GWQ^$O_``<8:S?:9_P3
M5\365I+Y=OXB^,'PHT;5$W2#SK-0\01Q$)(BMC4]"TZ;;,LL>8@PC$JQ2
MQ_Y^-?W<_P#!?G]I/]E?QI^PO\5_@OI7Q]^$/B'XVZ+XR^%VO:-\,M`\<^'?
M$/C2/4-/\<:';:O%=:+H]SJ5YH]W9>%-7UC59XM3&F3?V9%)*K/'-'#<_P`(
MU?Z%?1FPV(POAWB88G"8C"3J<29A6BL10JT'B*57+\IE2Q-)581=6C.%H0JP
MYJ/\'+#XFAB8T^&L#1J>PK4ZRH5J>9YPJF'J^SE+
MV=:#?-.E.TXJ<7**YES:EX,_9Y^'FH:>
MWQ6^(T-L5N;R:8"[A^'_`(&EN8)+&^\:ZM9A9KN>1;BR\'Z1=6O7J2C2H48)SJU
M9QA%79^+9!D.:<39O@LDR;#2Q>88^K[.C23Y8Q23G5K5IOW:5"A3C.K6JRTA
M3A*6KLG\9?`?]D']IS]IZS\7:C\`/@CX_P#BKIW@33;K5/%6H^%=%DNM/TQ+
M6T:^.FK?3O;VNH>([NU1I=*\)Z7+>^*-:`VZ1I%\_P`M?.]U:W5C=7-E>VT]
MG>V<\UK=VEU#);W5K=6\C0W%MZOK6IW%WJFJWTLUY?W=Q<2/(?R-_P""DO\`P1<_9&_:SC\5?&T>(]._9A^,
M4D)U'Q#\6;(:;!X`\13PI*OV[XF>%M0U#1=&GN[F25!>>+-+U30-?G=8I]7O
M-<6"*T/\S?2CRO'<18K"9[DM7*^'\15A2RG'X95<;C\/[_`"<^;8:FY>UC
M7352V74ZE3"R7L%3QRE[>'])9]]&7,,)D&%Q.19Q#,N(:-.4\TP6*=+"8#$W
MCSS3S"JJ>*B_;2J8'E]C/\`SW**]8^-_P`*O^%*_$[Q1\.(
M_B%\,OBK:^'[P1:?\0?@_P",M+\=>`/%%A-&LMKJ6B:[I0?#^\T^QNF21Q<:C]AC"#4)''H/\`P<;?%[QE=_\`!13P
MMH-AK&JZ3;_!'X3?#N7P8]I,]J=*\1:UJ6J>.+WQ+I4L3^9%J4MS)_%$&F>'OA]:Z5H?QH^'=QHZWT7Q7\,>#]8O\`Q/X1TV"\9FM['[;J.HWG
MAGQFM[:7#:IX-N((-,NM,U#38I+G^9>/,XX:X$\;Z5X$&8(UOM.\0:[-IYBETXR0?P>U_H8?\%R/^"?"?MG?LR7'Q#\"
MZ=+'G]G;3=?\8>"8+-`]SXS\(-;17OCCP`T0^:XOKVSTR'6_"ZH)+AO$&E
M1:1;*D>OWCU_GI1",R1B9WCA+H)7BC661(RP#O'$TL*RNJY*1M-$KL`IEC!+
M#U_HT8C()\`UZ65^[FM+-\96XAHR2]K#$UW;`2II7F\'++J-"GAV[IXBCC4E
MSJI?R?I(X?/(\)O'>C36EY8_$/XJW5S\1_%5IJ5B5:
MUU?2D\0&7PUX9U:"4>?%J'A+P[H%Q',0\;J4B$>W$OTD.!LAGB\'A<)GF:YI
MA*M;#3P3R^KE,*6)H2<)T\74S14,3ADIIQ?+@J]6#34J*>AS\._1UXTSJ.%Q
M6+QN297EF)I4,1#&0QT,UJ5,/7BIQJ86GESJ8;$^XU).6.HTIIITZTDVU_GM
M_$C]CG]J7X/_``L\'_&WXG_`CXD>!_A7X\;;X9\9^(/#US9:9'6U92)]!'B.TTD^(;4->:'_:%JK3#YJK_7;U+3=.UBPN]*U>PLM5TR_@DM
M;_3=2M8+ZPO;:52LMO=V=U'+;W,$JDK)#-&\;J2&4BOG/Q-^Q7^QUXSM8[/Q
M;^RC^S=XDMH!/]FCUOX'_#3439M6QDNO#,DMC/)&JJ;BT>&<%$99%9$
M*_G.4_2P:A*.>\(*51UZCC6RG,G"$<-)MT82PV,H5)3KTX\L*E58J%.L[U(T
M:"M3/T+-?HM4I34LDXMJ4X*A33H9KET:TYXE)*M-8K"5Z"IT)N\J=)X.I4I)
M*$JU:[J+_*PHK_0Z_:6_X(&?\$^/CUI6J3>#/AY=_LZ^.[J%CI_B[X0:A>66
MBVUT@D:V74/AMJMU>^![G3/-DS>VVB:9X9U6ZA"P0Z[9[(I(OXP_^"@'_!.7
MX\_\$\/B-IWA'XK1:=XA\&^+?[2N/AK\4O#7F?\`"->-K'2VMA?0M9SN]_X=
M\1:6M[9?VOX>U,-);M<)/IE]K&EO#J(&(679?6Q.6YTX2G#*<
MUITZ-?$QIP2YTZ34+J&PO)$\^T34KVVMY4BU&ZCG_`+O*_B9_X-AOB%\$?"/QR_:+\,>.
M/%/A_P`/?&3XB>$OAQH?P:T[6KJ+3[WQ9HVFZEXTU?XE:!X=N;I8[>^U@3V_
M@#5?[`@N?[5U"PTZ]U&RL;NTT74I['^T?Q9XI\/^!O"WB7QMXLU2VT/PMX/\
M/ZSXI\2ZU>L4L](\/^'].N=6UG5+MP&*6VGZ=:7-W.P4E8H7(!(Q7\A?2-=6
MOXJ9A26#K4G'+LEH4)NE)+,.?!4ZBKX=\J]M&-2M+`\T'/\`?X6I2OS0<(_U
MC]'N-.EX89;4^MTJO/C\XK5::J1;P/+CJM/V%;WW[*4H4HXRTE3_`'6*A4Y6
MI*<]^BOR2_X>DR6WQ)F\)ZO\`M:T;0HM0M]-&F:AJOQ/M_C)+?77PST+XV1:
M%:>'KCX`P?LXZOX_B^#/B/2/B;=?"+P_^UMK/Q>C\/W0T^W\"77BM'\.K^J7
MAGQ)H7C'PYX?\7^%]3MM:\->*M$TKQ)X=UFR9GL]6T+7+"#4])U.T=U1FMK^
MPNK>Z@9D5FBE0E5)('X]FF09ODL<+/,\%4PL,;1AB,+.4Z-2%:A5CSTJL)T:
ME2/)5C>5*3:52,9.',H2:_7LOSC+)CE^+IXF6$KU,-B8Q4XRHXBC+EK49
M*I"#YZ4FHU$D_9R:4K-I/;HHHKQST@HHHH`****`"L'Q1X6\,^-_#VL>$?&7
MA_1?%?A7Q#83Z7KWASQ'IEEK.AZSIMRNRXL-4TK48;BROK29>)(+F&2-L`E<
M@$;U%5&4H2C.$I0G"2E"<6XRC*+3C*,DTXRBTFFFFFDT[BE&,HN,DI1DG&49
M).,HM6::>C36C3T:T9^3.I_\$:?V5-(U36]9_9^\<_M1?L;7_B.=+K6_^&3O
MVAO&GPRT^_NE:(-.=#U,^+-"M@]O&UF+6RTRVL8+6:5;6U@E$4L71>#/^"2G
M[.5AK_A;Q/\`&[XC_M1_MEZQX%UM/$7@K_AL+X_>*OC%H7AC5HXY(XKFR\&+
M#X<\$7WE":1T37/#FK*)2LI#21QLGZB45]3/CGC"I1E1J<1YK/FBZDZ3Q/LW2;IN+@VCYN/!O"L*T:\,@RN$H-2C2AA:<<)
M&HJRQ"K+`I+!*NJZ555_8>V51*2J)I#41(T6.-51$541$4*B(H"JJJH`55``
M50````!@4ZBBOE#Z4*_!W_@MC\*?^"G7Q^\-_#[X-?L-^%;_`%#X2Z_I'B"[
M^-^J>%_B?\._ASXEUO4#>65MHG@W4KKQKXR\&ZDWA*33A>WE]:^'[B[MM>EN
MI;#Q"L=E96UMJ'[Q45[_``QQ!6X6SS`Y]A\ORK-,1E\YUZTJ4
MZ=.M4H4<1A9RJX:4U7PTE6C[+$4Z56S<$CP^(\CI<2Y+CLDKYAF>64,PIPI5
ML7D^(IX3,(THU85*E*E7JT,3"$,1P^(3HR]IAZE6G>//=?YR/_``X;_P""
MKO\`T:K_`.9R_9N_^?!1_P`.&_\`@J[_`-&J_P#F$?$.D>//BE?I(5DNM"TR72HM4\!:'
M=K'YEO-X@N-:\2VEEXN[RX82:AK6MZI=R3ZCKFO:K/\`Z1J>L:I40Q0
MQ1>R45^5\<^)_%_B%.BN(,=36"PTW4PV58"D\)EM&JTXNLZ+J5:E>NHN485L
M56KU*4)U(4I0A4G&7ZCP7X;<)\!4ZW]@8":Q>)@J>)S/&U?K68UZ2DI*DZSC
M"%&CS1C*5'"TJ%*I.$)U(3G",D5_)C_P5$_8"_X+$?MX?'+QO;12>`D_9G\)
M^)-57X*?#[3_`(M:7H7AN\\/64WD:'XG\2:%+!:7FI_$+6K,?;M0NO$T%S%X
M:N[S4-#\/:C#HJ)/?_UG45Y?!G&68<#YJ\ZRK`Y1B\P5&5'#UC[#$RC%TG73,48M1HXN2I5'6PRD_:>P=JFL>;,&V]/MN2U>FUORQ?1O\.++W<]
M=G=MYI&\O)VPJ5O\*B_,_GR_X)/_`/!#S2?V'/&5O^T%\=_%_A[XF?M`66G7
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M$RQ6&J82O]6KPG4I2I5(>TY)WI5(N+G#EUG2IRNN6S_E!_X)@?\`!*3_`(*C
M?L%?M"^$O'\?Q!^!-O\`!OQ/J6GZ5\=OAK;_`!%\8ZLGB+P9+(T-UJ%GHJ?#
M^'1Y?'/AB.5]5\)ZE!J]DXO(FT>\U,:#JVLVEU_5]117'QEQGFO'6:QSK.J.
M6T\P6'AAJE;+L%'!_684Y2=*>)49S=>M3C+V4:TVZGL84Z3DX4X*/9PCPCE?
M!>5O)LGJYA/`*O/$4J6/QDL8\/*JHJI3P\IQC[&C.475=&"5-5IU*B2E4FV4
M445\D?4!7Y2_\%Z]IEXZRVYADCT\DS121HDWZM45ZV19WF
M/#F;X'/,IK1H9CEM;ZQA*TZ5.O"%7DE"\J56,Z=1
MWN()(YH)HTEB=756'])'PF_9:_:-\2?L.?$K]DS]L_XW>'_BSXM\<>!/'?PI
MMOB]X)TW5+;7_P#A!_%?A)O#^E:CXE?7X;?_`(2#QIH%U>7L[ZO-:HNM6UMI
MIUIK_4GU._O?T5HK[/B?Q8XTXOIX&&>XS`8FIEF+I8[+\53RC+[_9N_:1N?V@K
MOX_']G^ZO/VG[WXN7VNP>*->U_P+KW[)_AW2M=_9#^$/[/\`JGCGP_/=?%:+
MQ[9W.E>,?A/!XRT+Q-8_`S2?B_-I.O:S\)]2\*OX3NT^(MI^Q'P0^%^G_!'X
M+?"'X+Z1?W&JZ5\(?A?X`^%^F:I=QK%=:EI_@'PII/A2RO[F)'D6.XO+;28K
MB:-9'5))&4.P`)]0HKY?.>)%Q$*%'#X'#X;"T:6']OR^PP5.K2P5)
M^WKUVJ>$AB,2J$8.*7UFLY\\I)Q^FRS(L%E5;$XBA[2I7Q=?%8FK5K*CS^UQ
MU2E5Q'P[J.?,VJ%&,7&--1"BBBOGCV0HHHH`****`"BBB@`HHH
MH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@
7`HHHH`****`"BBB@`HHHH`****`/_]D_
`
end
GRAPHIC
3
c41408_ncsrsx2x1.jpg
GRAPHIC
begin 644 c41408_ncsrsx2x1.jpg
M_]C_X``02D9)1@`!`0$`2`!(``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$"`0$!`0$!`@("`@("`@("`@("`@("`@("`@("`@("`@("`@+_
MVP!#`0$!`0$!`0("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("`@("
M`@("`@("`@("`@("`@("`@("`@("`@+_P``1"``\`'T#`1$``A$!`Q$!_\0`
M'0`!``$%`0$!``````````````@%!@<)"@$#"__$`#$0``$#!`$#`@0$!P$`
M``````0#!08``@<(`0D4%1,6$1(76!@9EM<*)%F7F=;8(O_$`!@!`0$!`0$`
M```````````````!`@,$_\0`)1$!``(`!@("`@,```````````$"`Q$2$S%1
M(:%!83)Q@='A_]H`#`,!``(1`Q$`/P#OXH%`H%`H%`H%`H%`H%`H%`H%`H%`
MH%`H%`H%`H%`H%`H%`H%`H*%)Y/&X3&Y#,YG(6.(P^(L;K)I7*Y,Z@,,;C,;
M80%'5\D,A?'51(4($(5)4DLLE5-`=!-1992Q.RZ[@(ZI1"
M?;XSF/LBX4-KTT3)LC;._QB(2O:*?.;9$U;W3SP-J]L,7F[NRHCNB
MCDQID@<`D:BMI7A%]_ZD?40EY)R<>H_N
MQ$K;W'"@K4#:+RUHAM]K,\+WKVGDK.::=XXJ?2,&6)O5A9+/O4&<5'%SDO4`
MR6VNSL^2!VN9L6X%U!BV/(\`Z/A#@S1F'L>2H#-9`F"V!J#@(J/,K?G(G@;N
MBW!99:[X;C!A)Q(Z8=9X-+FQI:VTS:+>^0F`-X(1;^\;^;E(.SX2(-:@N[NB
M+#-P0;"";K>5E[0@@Q+5+[N!A1T?D2LUM42<251]J27[BMWO\@.\/[@U=JB:
M['M22_<5N]_D!WA_<&FU0W+/H"VY?C#['I7CG<+=J!RB-N)9HSB;M-E7.;$Y
M#'L!L?,:)#C':@V?0]P'YL-Y)2N+CRI89XH1H)0I`]M_,G"HUN,Q,&S_`%%8
M1)!WU@W-!R@UJL;PU.L-V;ULPY+XW:>6>`8SR:.%:R(X=>!#@TQC1;TSW5W;
M2D'&^ZYO2*%&)MQ.`NY'3/4"ZL.W$+]LMV?-1,=9C;^9%*6V69$U/S#;$Y:I
M'^?+.,%DK5KGL6@W-8GQL29FQZ#NS(YK($E%NK?<8.GPW68M@VAK53MLJU*Z
MA>J^Z"9+1B*?+-666)C!?)]KEE-E<,7[&XT1(8V1[.YF&(9;:@Y7!!1)A)R]3-
M<\UR+6F":NA/R,=@TWGF"I6S.&3\L;*1J$2`^V7$+35GO2AT?EJ0K2VQ%N:W
MNZ*6N$H*.4]&%A_)>=,1VNJO0X6\(P',[:V)RH`MME4
M5+3>,:Y2B9?MO+6'Y:&YAOK3.<2Y"!M\@Q.P;@W-QJ1`BEMBRH(Z9J)8O%X]
M^;1$PZ4O-/Z;9=`NH#L[F/5#&TUEFIF>ML'Y!XRK`R]E\`.FBL(Q/G5#$N8G
M_%#9E"-17(F;&)R#5>!65$QU3L:`&GEX4/4CP]L?O;.>?#/+JF/^*_/7],G=
M[]?]-S_H*AD?BOSU_3)W>_7_`$W/^@J&3-N&\L3_`"?[C]ZZR9OUS\'XCQGU
ME?\`6U\]X^3[KO/;GX?,@SOTO']NEW?E_%?/WPO8=]\AO9D9SHGG_'YT,DRW
MD?".Z>_$SPS<+D!H,WHW=;LQ8+E$B)3>A>_FM,E4';Y=+S,&R19"0$W
MQW/3;SC-/A../=C(9:W3IS44BCK>IZPQ8Z3+(')50$FPCY;>$R;4-ZX8VY2_
M:'=ID+2UOS"Z-SXQOC<$\,KTSFC.;2\-+F-::VNC6Y!77HD#D(WV*H+I7WIJ
MIWVWV776W<J\1%O\3E1IRR^WLC^]MT2P0D
M3FF1."30]4-9/'EIXC7>2L4,,&L^%M0*ZZOP[NU-$E5#&Y$3RU&':4,\P[
M3YUS4JM%L?AR+6?&G'F`WJ4>;ASMGB:B.,80!&"9;6:QZ9HD*B66L"HQ>HMS>G5/TU6:TGMU<]!5F;8[TL->X^S#=FT,4[VT9FH/UB".U;
M6SI=\/C?===SSS7DMRZ3.OV>XU'`\/,9>+K>>>.>.:]#AYA9#3BR$1EV3
M?X0U&8R?;&XUG4>L12&28A=C6ER)&-+:W5RQD6TKW+!C*\(%7K)V*(VWIV
MVW?'GF::M:[,A,4@S%$#7$J&;&9U8T'85N'.;7V7-F7PN56M4E1(YN4SXW2L
MAO54X*YL)X;EQ$2;41N5T5+T$[^&GHU9KG^K6R_W0Y._0VMG^A4RMWZ3.O7M
M6?Q*[B^TO;GU0PQYCV[X3W]]!WWW;Y+QO8^[^S]Z^"\CZO\`.^EX7Q/<_P#G
MQ?9_RE,K=^ESKTHWU:V7^Z')WZ&UL_T*F5N_29UZ]K??Y;G&8)MP"9$GA499UO9&W)CDZCAJD6FK4XMEX`@A-@0;>Y=/EENPV3F88@"/@B),KLMPU7+721[7!\2PM9KB4@G7.V)%
M8=*T^9=ZVF&L$9TRU;POK-%74J1B8MB-K>^R\WEZL-GV0'YR(EV4
M"0U9')7!V?5&_P`D6.VW.'(`:G`8R%EOD;GRD_0*!0*!0::,U]![I]92=%Y'
MCN'SG4J4G29NDCJX:IRT6`1)TM;X=S"KV2[!IM]B&3O[VZ5?NG5WJIMQV?ED]3;[$,G?WMTJ_
M=.F]4V_L_+)ZFWV(9._O;I5^Z=-ZIM_:[(-TD^IY/Y'RQ*:S1/#36@R.+L3,
M]@-A,6-\;)/&/"#;XPRC:YKY/=U3B4R"2O4,:F]M10`5MO<.Z6%&6DXT&W]I
M1X[Z`FZ,E-?[\L[#:P86;A!62R+BX[AV5MG39`:LJ;S(R'\^2$XCL:$A[+6Z
MT)$<9\N,N5-O77!X'0L)S.-+6BB=6+/X=O4)G":_Q%94V,VF+OQ]?%)7&I!/
MA<(XI>).ZI`>YIBTQ3702+OR:2MPI2#>SOLMDH0+:Y%#$1SR'M^!XYB;#"(8P^7=5WUV\-%XR@*"+W1I
K1)A'H(6>L40N0I\RRRE]V#ROF@4"@4"@4"@4"@4"@4"@4"@4"@4"@4'_V3\_
`
end
GRAPHIC
4
c41408_ncsrsx2x2.jpg
GRAPHIC
begin 644 c41408_ncsrsx2x2.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"`!"`,T#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#^_BBBB@#%
M\0^)/#OA'2+OQ!XKU_1?#&@6'D?;M<\0ZK8Z+I%E]IN(K2V^UZEJ4]M96WVB
MZG@MH/.G3S;B:*&/=)(BG9!!`((((!!!R"#R""."".01UK^<;_@Z=FU:/_@E
M-KJ:=-+%9W'Q\^#<.O)'<-"EQI*W/B">&&>-9$%W$NN0:+<"W=9E6>"&Z$8>
MV26+]D/V%_BG9?&[]B_]E'XMV)A$?Q`_9Y^$'B6YBMQ.(;/5-0\":&^M:=']
MI`G(TW6!?:?NDRS&V+;W!#L#M[JEW;7W)/\`&_X'U51110(***^"/^"@W_!1
M'X'?\$[?A+8^/OBB-7\7>//&]_-X8^"7P/\`!4+:A\1_C/X[VVT=MX=\,:=#
M#=26NG6]S?Z$/B2XM9[+18;ZS@@MM5U_5-!\/ZR#2;=EJV?>]%?P?_`+=W
MQI_X*Y^(O'W[)OB?Q?\`M3^,?@!^VW^TQ\9_`EQ^S!_P37_9Z\0ZWH6C_!KX
M(:B^M^?XR_:EMM->VOO%6O:IK46B:7?Z5X\L]:TXZ)!\1[?48M/T[2=?\#>$
M?[P*!RCRI:IWOMY6Z]5KOMHPHK\\?V]_^"F/[.__``3[T7PE9?$4^*OB+\:O
MBE=II'P5_9P^$FCOXN^,GQ6URZNUTS3K?0_#=JV^PTBZUF6#2AKFI&.*[OW?
M2]`M=>UY8]&F_(G]GS_@L_\`\%'/BS_P4B^&/[%7Q`_X)X>%/A5I/CC3=+^)
M'C+PY=>.M3USXN?!?X%:S;R20>/OB7J5K>1>&?#^K:=%)INHW?A3Q!X8\.:[
M=3:SH?A:/3K/7=>TE[@!0DU>VEF[MI7MH[7WMU^[<_J$HHKY4_:Z_;8_9F_8
M8^&DOQ3_`&F/BCHGP^T*=YK7PWHSF35/&WCS6(?(`T#P!X+TU;CQ#XLU??=6
MHNDTNREL]'M[A=3U^]TG1XKG4(`E)O1*[[(^JZ*_`.R^/7_!;K]MJZMO&?[,
M7P/^"/\`P3W_`&>KB&YN?"^M?MFV&O>,_P!H_P"(%O\`9KQ]+UF\^%7AB*YT
MOX;:-J4YLH9_#WB>T77K*,-K>GZ_X@T^>WL)L7_@EM^WS^W+\8_V\?VPOV%_
MVF=7_9]^.WA?]DSPEI3ZO^TW\!?#>O\`A2PF^)M[J'A:P_X5]K=E>:E+H5UJ
M1^U^.-/U6TT_P_X?N-`\6_#CQ;IZW&LZ^^A_
M0M11102%%%%`!17P3_P4"_X*.?L]?\$W?AKX0^(OQVB\<^);WXA^-+/P'\._
MAC\)]'T+Q1\5?'>N3H)K]_#'AC7O$_A*SO=,T""2T?7=1FUFV@L[C5-$TN,W
M&LZ]HNG7_P!H^#/$T/C7P?X3\96^D>(?#]OXM\-:%XF@T'Q;I,V@>*]$AU[2
M[758M(\3:%<,]QHOB'34NULM:TF=VFT[4H;FSE9GA8D'9V3Z.]OEO^9TM%%%
M`@HHHH`***^??VE_VJOV>_V//ACJ/Q@_:3^*GA?X4>`=/D-K'JGB"YE>_P!;
MU0P37,6A>%?#^G0WOB#Q;XAN8+>>:VT'PWI>IZK-!!/<+:?9[>>6,#?8_GJ_
MX.V?'>F:#_P3L^%7@>2\:/6_'_[4W@R6RL$C1C=:-X2^'OQ,U+6;F5W&8X++
M4+SP[&QB/G-<7ML@!@-P5^6_^"(7_!;#]B7]DG_@F#\.?A=^UC\<_P#A$_'7
MPS^*WQ+\#^&?!5CX=\9^/?&=YX(UO6D^(FD:_P#V5X6T'5Y=+\+VMYXRUS1+
M.[U.XM[56T*33M/=Y$MK!<;]NKP#^VQ_P<9^,/@?;_LS_L]^*/V8OV+_`(*Z
MQXP\0>%_VD?VF;^_\#S_`!=U'Q7#X&?AQI=EJ/B&ZL-%A\-:C9^#I=
M!7Q!8W;ZK>SZ_P"*O"MQ*OC)XG^!
ML@UF\UOP)X&UZ\EU?X<7NB>'_$VC_$2Z\.Z3_P`)!=:#HD^@^*M`N-6EGOKV
MPT2^O3I]QJLSQB60.B$8RCR2?O7YFD]5LO-;-:?K<_TIOC%_P7._X)4?!?P8
MGC/5_P!LKX4^.8[D0+IWAGX/:I)\6O&=_/]EAMY?'/#O_``<&_L"_$3]KGX`_LB_!K4/B'\9=<^/B>#H=
M-^)G@7P[I[_#KP?K7C_1(==\-^&_$\FM:SI/BE=&[H>`K^X
MDT?7I(]>T;Q/I.@_YRGP\_8#_;#^)?Q?^!WP-T/]G[XEZ7\0_P!HRP@UWX2Z
M=XL\*:UX6M/$?A!K^[L-0\=F_P!8L;>"S\$:`-/O]0\0^([C;8Z1I5J^HW+"
MVFM7N/JC]H+]DS]NK_@C7\0]9U'Q7X#\0?"_Q]<^)/$G@?X0_M;>#O$3/HE]
MH%UHMY9ZKJ_P*US2_LVH>&_%?B3PO?W`U#Q#>SV?CKP?H>KOHT>D>#?$4MW>
M3`>RAMS7;3LKKO9/Y?.^MMK'^L7YD89T,B!XT621=R[DC$H?#5WIGIO\`P1F_X)P?\%4OB')?%'@7Q1\5OBAIGA[Q[JVEZQX@U3POX.\/6GACX4
MZAXGO;GPQ?>)-?UBZAN[*3PI'K:E!>A*48N2YDW9):M+7=-[6VOJFTFG9-GZH?\$S
M_P#@F/K?[,&M^./VK/VNO'FG_M(?\%$?CM-/??%?XX7$;7FE>!]%NH[>
M?"(7FG:4-#\(Z=:VEK:7=UIFA>&XK^VM;'0].T;1_"^BZ3I,7TY_P4A_;D\&
M?\$[_P!D?XD_M+^*].'B+5-"BL_#7PW\%>=);OX[^*/B8S6G@_PN;B)'EMK"
M2XBN=8\07D*27-CX9T?6KVTAN;NW@M9OF;]DSPY_P6G^(?QK\+_%7]MGXD?L
MK?L_?`_PS9ZM#?\`[+G[/'@Z?X@>(OB??W>E:MI=G<^._B;XYN?$%UX%MM&U
M6;3/%6D3?#GQAJ4FLQV@T'7M(TR-[FXN?(_^"]WP!^-WQ5^"?[+/Q?\`@M\&
M]8_:1?\`9#_:_P#A=^T;\0?V>?#K7C^(OBGX!\(Q:G'J^DZ%I^FVFJ:IJ]^9
M9[?2[C3]%T76=:71=B7;317-W_@EU_P
M3?\`$'@K4U_X*$_MV2K\7/\`@H_\=K&3Q;KOB;Q&L]QI_P"SEX5\6:9&-+^#
M?PS\/W(72O"-_P"&O#MTWAWQ)?Z19K-IWVK6?!?A_4I?#"WMYXC_`%WT/X-?
M"OPU\4/'?QKT'P%X:TKXL_$W1?"GASQ]\0+338H_$_BK0O`\5]#X4TK5=2.9
MI;/18M1NH[:%/+#H;=;CSA967V?\.?#/_!S;_P`$P;B6[TGXJ:Q\?/V??%VE
MI%'K7@SXL?`CQE_;^EZD8XFN=,N+?P#'XY\FXM7D96-[]B$B1F0*N]$;TSX-
M?\%Z/V7_`-JW]H7X<_L^?L9?"G]HC]IJZ\5>)]*T[Q_\2_#?PUU3P=\,_@WX
M/OS%]M\?>.-6\:QZ5J]II&E(;PM;W6B::VIW&GS:=H]U?:G>:59Z@`XS=VTU
MIOM%+HD]K+2R/UI^/OQK\$_LW_!'XL?'WXD74UIX%^#WP_\`%/Q$\3M:"%]0
MN=+\*Z1=:M+INDP3S6\5WK6K/;)I>B6+31M?ZM>6=E&XDG6OP=_X)_\`[+'Q
M(_::34_^"R7["-6\&:Q?Z1(D6K:0U\B3:9KNEM
M*KP'4M`U>WL-:L8KJ.:SFNK"*&\@GM9)HG_`WX-_MN_M<_\`!'3X*^"?V?O^
M"E7[-?Q+^*/P"^$%]!\*_A?^W/\`LX6&@^//!A^#?AJPM-*^']S\7O!4&OP^
M+/!VH:'I%I'I5=;L_AIX9^$_B[6)M"O[BS62UM+K1[N>]O91;O;?$;P(EVUY#^J/[!
M'[`?P#_X)W?`^R^#'P-TBZEGO[F+7OB3\1_$+I>^._BOXW>W6&^\6^+]3``:
M1\R1:3HMD(=(T&QT\;^%)[>66.&ZM?$6@:9<6\KHLD8
M$D9?\K_^#C']K3]JK]DC]@Z/7OV7]/GTN?XH^/;;X2_$CXK:0EW>>*?A5X4\
M2^'];N8K_P`-6MO9S1:1?^*KG39?"R>.;JXAD\)W-]90Z)$GBC7=!UC1`/>;
M4$N6[VU6O=WN_P#+HC][[2\M+^W2[L;JVO;64N([FTGBN;>0Q2/#($FA9XW,
M3>(K'P?H1O-
M!^%GPVT72]Z1!XZU+9_P""D_[8'_!3[QWX]_8O_P""BWQ#3QI\
M&/AUXY_:&OKW]AG]C'0[_P`7:-XHN?"/PNU;PY>?\)AX_P!(T%K.^U#Q-\4W
M\0:5X7@N;VUO=>\6Z1J^LCP_I&@^`;KPO;>(PKV3NE=)/9N^O;R;>[LVEU>U
M_P#1>HK^$CP'X^_X.,OA;^WY\8OBUX]^!'BCXC?%3QM^S[!'HM_XVU_Q9H/[
M!/[/?@CQ(WA;XC:GZSK?PJTC2]<\&'PRGC2\\41^,QXBUN\_X6
M?JDD%]KWZS_\$D?^"LFGVO\`P3#L_P!JK_@IS^TIH/AO5=7^._Q;\-^&?'7C
MLZ#:ZSX_\/Z7?:%<0V_@3P%\/?#T/B+7+3P_K.L:UH8TC1_#&JZII5II$D\B
MVWAZ/34M@3IM*Z:EMHG=Z]DK]M]+]"A^V/X*;GPG
M;76CZ9>:#<:KI>IW*7-A7^`/_!>WX]?L9>)?VA?V6O\`@J]\,OCC\8?VQ?#/
MQIU*'X2:)^SS\&O`:^'/%?@/6]'T5/#&A>$KFPU#P$^M>&GU@2:MX9\2W/A_
M7O$^I^'?%.FKJ%WK&L6LFEV@-QE)1:L[15HWULWO;M?=G]+O[6?[7/P4_8H^
M$\7QH^/>NW^@>!IO&_@GX?Q76EZ:[;Z'I2P:;'-#<75O8K+=:U
MK!M?/NK30M*U2_AM;I[46\GTU7\NOP@_9<_;D_X+#?M#?"G]J[_@I-\-I?V7
M_P!BWX%>);7X@_LZ_L,W%]?3>+?B#XQMO+O-`\>_&N&Z@T^^\FS2=;:\7Q+I
M/AW5-2LK2\\-:3X!\->&_$?B+6_%/]15!$DHV5[OK9W2\O5=;-KIT84444$A
M7\V6E_LY?#__`(**?\%R_P!K_P`0_M'Z>_Q1^#W_``35^'O[-O@7X-?!_P`8
M*]Y\.Q\4OCCX,G^)FN>,[GPNT1T?7_[&ET?4[?4+374N8]4OYO"MS>P:AI_A
MS0X;'^DVOP"UG7O#W[!'_!<7Q-XS^(>I6_A?X)_\%8?@K\/_``SX?\:ZDEMI
MGAS2OVL_V<4L_"&A?#_5=1^V16-A_P`)I\.M6BNM#U'5XH[SQ#XW\26WA_2!
M.ZZC,H5&_O6W<7:V^Z;_``3/W\``````````P`!P``.``.`!TK^4?_@N'X0U
M+]AC]O?]@;_@LIX'TO4T\*^#O'>C?`7]J]]`LQ=37'@'6(M6TZRUBZL8E#DU*^06MKJ^A_#?3XIXM1FTO/]7-?)/[>OP(T']IK]B[]J#X%>
M(M.M]2M?B+\$_B!I.E+<64>HG3O%UKX?O=6\#>(;.SE94EU3POXST[0?$>D9
M="FJ:7:2*Z,H8`0=I*^ST?H]&?3'AGQ%X=\:>'O#OC7PKJFG^(/#7BG0=,\1
M>&/$.F2QW5AK/AWQ#8VFK:5JFFW:96?3]5L)K*^MY8SY=Q"\$O("D?Q\?M,:
MY%_P4^_X.1_@#^S0B0^(_@#_`,$[]*NO&'C72;R!-1\/W_C;PG_97CSQ[>W%
MJ8,30ZE\0I_A#\)==TW4GDTZ5O!UX1%+#?317?Z`_P#!L1^TW?\`Q]_X)D>&
MO`?B'49]0\3?LQ?$'Q1\%'EN][74O@T0Z;XY\`OYK22+)9:7H?BUO!VF*HA:
MWLO"45L8-D,=QT\1
M>'_$.B^)[;7/!-=(N=$GE&C:+\4?&OBG^UH=`UJWTCQ-:V?A7
M13KGA_0[A4LZ"E[CG=KF2<5YMNUUZ*_WG]$%%%%!F%%%%`%*[TW3K^6QGOK"
MRO9M,NOMVFS7=K!<2Z?>^3+;_;+&2:-WM+K[///!]H@,UN/B!X#^''AGPEX@EB\0*RZZ3<:#I]A$)
MM95G&J7*PK[N>%?%[]E_P#9N_:`U7P?KOQS^`OP
M?^,&M_#[4$U3P/K'Q)^'7A/QIJGA2\29+G?H5_X@TJ_NM.ADNH8+J>TMY4M+
MBZMK2YG@DGM;>2+T[Q#X(\&>+KSPSJ/BOPCX8\3ZAX+UV+Q1X.OO$.@:5K5Y
MX3\2P6UQ90^(O#-UJ5I7=I%JVEO:W\=M=7$"7`BGE1NGHH`_##_
M`(+"_P#!0FX^%NB0_P#!/7]FCX=WO[0G[=7[8W@?Q#X!\&?"[1G*Z;\.?`OC
M_2M:\):C\4OB#J.Z&TTRQM+9M8NM&L]0OM-TZ*WTC5/%'BO5M#\+:.\VJ_B)
M_P`$`O\`@GQ^QWX7^`'QW_;X_:^T+6?&WQ3_`&(/BC\<_AYXD\$_$DZ=J_PL
M^!BDU+0=(T[Q'
M9)XB;]0/^",O@K3?B?\`M_\`_!9S]K7XEQ+KGQ[T3]LWQW^RUH.IWX:>?P1\
M&_AMK5W8Z-H&@R2SSM!9Z[8>'/!]AJ#*[PSV_@'1FL6AAENDGY#]@GX$Z+^U
MMX`_X.%/@WX'\5*GPE_:1_;2_:7\">!_'ENU]<^'+'XE>-O`?_%:Z_8VRS6U
M[J5IH'BKQ#X:OK\6Y32M?TRUL[?3;BZTN52`VORQ<4VK*+E)/>]KI>B>W6SN
M?DU_P0Z\1_%O]K__`(+=:[^UG\4+S4O$?C_4_P!GOXG?'7XF7=YJ?GZ-\/=$
M^*,VB>$/@I\./#Z6MM]C2UTOX7>)O"%SHFF27LDJ:%>7<,]M;:GX7U$2?WO5
M^`'_``0-_P""27Q$_P""7_PL^.%_\===\%Z]\;OCCXN\.Q:C'X$U"]USP[X=
M^'OPXMM*/$FM:O##9Q6<=BWANT???:?"M8D
M34M+O+:X?3/%'@GQ5:6]S!H_C;P1K\`-UH/BC1?MT[5
M_#^IZII-[]144!ML?@%^SU^U9\:_^";?QQ\%_L`?\%$_&=YX[^#GC=]%\*_L
M-?MY:IH%SINE^/2\]U8Z;\"/VB-;BN[O1]$^+VBV::;IN@^(YQ9V_B:PM5U+
M7KR6>_BU:;]W_%/B71/!?ACQ'XQ\3:G9Z)X;\)Z#K'B7Q!K.H2>58:1HFA:?
M<:IJVIWTHR8[.PL+6XNKF3!V0Q.W:O'_`-IK]E_X&?MA?!_Q)\"OVB/`&E?$
M3X<>)A%/<:7J!GM;_2-8M$F73/$WAC6[&6WU;PUXHT=KB9M+UW1[NTO[99KF
MV,LEE=WEM@1\1_^"0/_!5#Q#\.=9_8@\.?\%1+/5?^"?GB:6WT:_U/XF>"
M+K7_`-K'2?A9*W_$Q^$V"Z9+A0ZQJ-B[D?:K!-1\0'2A<1(81J.EZE:B5Y[6X
MCA_K5KYX_9/_`&8OA=^QI^SQ\+/V:/@UIUQI_P`/_A3X<31-+EOY(Y]7UO4;
MJ[NM8\2>*M>N(8H(+CQ!XM\2:CJWB36Y;:WM;+^TM4N8]/L[*P2VLX/H>@4Y
M?C;_P3Y_;=OOV.(OVS-/\`#VA?M;^!9?`UKXET?Q!-I=A#/B-=:3L3F^\3^-?%6I.`^H>(/$6I/)=7+
M*([/3[5;+1=(MK'1=+TVPM?J"B@;DVDF]%Z=%97[V6BO>RT04444""BBB@`H
MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BB
,B@`HHHH`****`/_9
`
end
GRAPHIC
5
c41408_ncsrsx2x3.jpg
GRAPHIC
begin 644 c41408_ncsrsx2x3.jpg
M_]C_X``02D9)1@`!`0```0`!``#_VP!#``$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_
MVP!#`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0$!
M`0$!`0$!`0$!`0$!`0$!`0$!`0$!`0'_P``1"``]`-0#`2(``A$!`Q$!_\0`
M'P```04!`0$!`0$```````````$"`P0%!@<("0H+_\0`M1```@$#`P($`P4%
M!`0```%]`0(#``01!1(A,4$&$U%A!R)Q%#*!D:$((T*QP152T?`D,V)R@@D*
M%A<8&1HE)B7J#A(6&AXB)BI*3E)66EYB9FJ*CI*6FIZBIJK*SM+6VM[BYNL+#Q,7&
MQ\C)RM+3U-76U]C9VN'BX^3EYN?HZ>KQ\O/T]?;W^/GZ_\0`'P$``P$!`0$!
M`0$!`0````````$"`P0%!@<("0H+_\0`M1$``@$"!`0#!`<%!`0``0)W``$"
M`Q$$!2$Q!A)!40=A<1,B,H$(%$*1H;'!"2,S4O`58G+1"A8D-.$E\1<8&1HF
M)R@I*C4V-S@Y.D-$149'2$E*4U155E=865IC9&5F9VAI:G-T=79W>'EZ@H.$
MA8:'B(F*DI.4E9:7F)F:HJ.DI::GJ*FJLK.TM;:WN+FZPL/$Q<;'R,G*TM/4
MU=;7V-G:XN/DY>;GZ.GJ\O/T]?;W^/GZ_]H`#`,!``(1`Q$`/P#^_BBBO)OC
MM8?&C5/@[\1]._9TUWP+X8^.=YX4U2W^%WB#XFZ?JFJ^`=)\820XTN\\4V.B
MQSZG-I4L6NG:AX[\?:Q
M'++IOA;PU9S.)]3U6[6%@D,$;(LCV\,DB2W5LDWJ-`@HHHH`****`"BBB@`H
MHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@#^6/\`9._8S^%/
M[<=U_P`%[?V8?BEIL5QX1\1_\%%_B/X@\"^,4L;2]U?X8_-`NKF'XA>#+
M]5MC:>*/"6L/8R7-M!/;O>Z7+>>&]^*?PS^-_
M[)7[4^NPZ_\`M<_\$_?BK-\`/BOXA#:E-=?$?P2D%U_PJ+XQ75YJ<,4^HR^/
M-(T37;1]4G>34M>/AH>+-52"Y\2HK>5?\&^%C?>(OV;?VL?VAM83S-3_`&IO
M^"AW[5/QECOOM#WBW&CSZ_HOA2VM[:]::;[=8VFN>&_$AMKICOD>YG4L\:1$
M1_"B&S\*_P#!R!^U-HWAJ:*&Q^*?_!,SX9?$SXCVEI.JI>>/_!GQ?\&_#GPQ
M>ZG:I)/YNHVG@)X+>VN)#926^GW:(+2=+L7D@:/7F6]DFO5**D_FKMKNEU1^
MV7C3X4_#/XCZKX!UWQ]X"\)>,M9^%GBV+QY\-]4\2Z#IVL7_`(&\9P:=?Z3#
MXG\+W5];S2Z-K4.G:E>VT5_9-%/&)A(CB6&"2/OZ_)F7_@I/%J?_``6$TK_@
MFKX2'@/6/#.D?LPZ[\4?B=KLB:HGC?P[\85U/3M8\/>`M,OSK\.AW-HGPPO;
M3Q9KFE+X8OM21-=TR[@UZV33-9TV/X#_`&L_^#@#Q+\`?^"A'_#+_P`//V:%
M^+?P#^'GQB^"O[.GQR^+=GXAOK'Q/IWQH^.%KK&J:+X;\"Z=';3:3=W6@:5X
M=\3J='U:(S>*=<\'^)=)BU7PU;0V&K7H2HR>B72^ZV>W7K?;?4_IBHKX_P#&
MG_!0']B;X>:Q\;/#OC+]J'X,:'XB_9Q\-1>+?C=X>G\;:3<:_P##O0Y[NUTZ
M*76M$LIKG5)-0?5=1TG1AH6G6E]KO]N:YX?T0Z:-6\0:+9WW10_MJ?LEGX`>
M#?VI[_\`:'^$_AO]G?X@PZ=)X.^+OC7Q?I?@3P=K=Z-\7OA-XC\9S_``X\
M/?%#X=Z]\0[7PIIGCRY\!Z-XU\-:IXSMO`VM-`FC>,Y_"]CJ<^N0^%-6>ZMD
MTSQ%)8KI%^UQ`MK>2F:,-@?%S]HCX!?`!/"\GQU^-OPG^#4?C?5VT#P=)\4O
MB%X3\!1^*-:1(WDTO07\4ZMI:ZK>Q+-`9H+(S/#]HMQ*$,\(<%9]CV.BD!!`
M((((!!!R"#R""."".01UI:`/FS]KS]J+X;?L9_LY_%;]H_XJ:G8V?AOX:>$-
M;UVSTFYU2TTJ_P#&OB6TTR[N?#?@'P[+>$I<>)?&.J6\&B:/;I%,1<7)NIHQ
M9VMS+%_*+^Q3-^UUX)_X*A?\$Y_VF/CK\;?&7C#]H?\`X*?>#/VDOB/^T9^S
M1H-Q/)X+^#/[)47P[A\0_LLV/_"/WJW$OA;0_#GB.+4-:274K]+RSFT;_A%+
M,W7B4>-]2\7_`%U_P#&^/0_X)=_LC1:E>:3-^T=^V]HGALZEI]G::Q>:1
M9RVVA_#Z_P!?@T"\NK2#5CH5M\56U%DNKBVTY$A:'4;VS@N_.'ZN_L*_\$P/
MAE^Q?XS^(7QOU_XI_%;]J#]J3XM:9IFA^/OVB_CKJMEK/B\>&]+\EK?P7X%L
M;6V6'P/X&\ZUL9CX>MK[5)"NFZ18MJ3Z7HNCV%@&B:C"_67,K6Z;+7IK[W=V
M2TW/OSXH>.K?X7?#/XB?$R[T+7O%%K\.O`OB[QU<^&O"MM;7OB?Q%;^$=`U#
MQ!-H7ARSO;NPL[O7M6CT]K#1[:[OK*VGU"XMXI[NVB=YD\S_`&3OVFOAM^V1
M^SG\)?VF_A'+J;>`/B]X73Q%HUKK=M%::WHUW;7U[HGB+PUK=O;3W=FFM>%O
M$VE:QX;U-7_X)R_LWW'B";]IGQI_P4X_:9_9&\`+\/=0O
M?"?C=O`WP9\5Z#\=/B7K^CO9ZI87WA*X_M#Q;X8\-:K9BZ%M:>$?%&I->74(
MD+N"C'FT6]UZ6=[OY;[[7/[\:_G*_:O_`&C_`-H'_@I[^TOXD_X)P?\`!/SX
MA>(/A7\`OA;>S:;^W]^V]X-0R?V*R.]O??LY_!OQ$D<(M2T75H
M=1>Y74]/DDMO"OAKQ9#XJ^<)?^"J?QK^,W_!)G_@GY\)O@AK]WXE_P""AO\`
MP44T[4OV9/"OB/3+B]O-7\!?\*T\2W?PO^-_[0WC.XM4U75-(O-'\.:8GBFZ
MUF3['<:?<^(K_P"(U@R:3X1OHD_3;7O$?[*7_!OS_P`$W_"5H/#WBKQ7X7\&
M:IH7@^VM/">DV,WQ)_:`^/7C\W-WJ6NZG+>7D-FFM>*+K3=7UJ]N-1U*>#PS
MX0T.#P[H$5_!HGA[0+@&DX[J\F[13[WM>S6NNB7?5JRL_P!`?V2_V9/!'[''
M[/WP^_9P^''B+X@^*_!?PWM]=MM#USXH^*/^$P\:W4.O^)]:\53PZGK:6&EV
MTEMI]WKEQIVC6=EIEC::;HUKI]A%"QMVFE^C:_.CP!_P5;_84\8?L[_LW?M,
M^)OCUX,^#7P]_:H75+3X6Q_&;6-.\"ZK/XC\,ZG>Z!XW\,ZQ]MNY=)TVZ\#>
M)M-O_#GB37&U63PA#J,5K)9>(KVQU?1KS4.M_8P_X*1?LA_\%`+[XPZ?^RU\
M3)/B!-\#_$6EZ!XU:?P]KOAZ.6#7O[77P]XE\/G7+*QDUOPMKTWA_78--U6W
MC5GDTJ=KBVMX;C3Y;P(M+5M/3=V>CO;7YZ>I]U5P_P`2OB5X!^#G@#Q=\4_B
MEXLT7P+\//`6A7_B;Q?XN\17B6.CZ#HFF0F:[O;RX?).%`BM[:!)KN]NI(+*
MR@N+RX@@D_.70O\`@M5_P3;\3_M66?[&?A[]HBQUKXV:CXT_X5IIT&G>$/&U
MSX&U+XD&_ETI?`^G?$6/P^?!]_K,NIQ#3+:ZM-5FT"]U2:'2;+6KC57-DOQ?
M_P`'*_QHT#X=_L2?"7X9^(KW6I=`^/O[6'P9\'>//"?AJV:^\0^-?A9X/N]4
M^)7C+0--L(D:>]EO]4\*>$M,@MHGA6XU/4],M;F7['<7,<@-1;E%--7:W5M.
MZN?N'\!?CY\(/VG_`(2>#/CK\!O'&F_$;X4?$&PN=1\)>+]+MM4L+?4[>RU&
M\TB_BFTS7+#2]XADC7U^ORB_X)
M*?!N7]B;_@G3^S1\-_CK=>$OA9\1?&U]KWC#Q#X6U232O`MEH_Q&^/7COQ)\
M1M(^$^CZ+?W-K%;^(O#6F>(=-\%1>%[`S7;:CX?O+>PM!'&MO#^KM`G9-VU5
MW9^5]`HHHH$%%%%`!7@?[47Q"^*7PH^`7Q,^(GP7^"=Y^T9\2?">B6^J:!\%
M--\7KX%U;Q_;+JVG0>(]+T7Q,=$\1M::[:>%YM:U?0[*+1[NXUW5M.L]!MFM
M;C4XKRW]\HH#\?Z\C^7S]EW]LWXO_LY_`?P_^RC_`,$YO^"''_!03P_;^&KC
M7;CPQ;_M;6,GP2\!Z5KWC;Q+JWB#6=4U[XD?$'4M3G\1:=9ZIJDLJQ+JNES2
M:9%!8K=Z5##!\`8_[%/[`'[6OP6TC]K?\`;#^-GQ/^&GQ`_P""I'[5O@W6
M+#1-;U/_`(22\_9\^!MCIND27'PI^#VEVEE&VOW7@'P_XGAT:X\97NE6LTL^
MG:/IEAH\&KW>EWWB/Q=^WE%!3EO9+5W=[MO6]FV]KZ]/,_FA^'__``;LZ,?`
M?P[^*WQ`_:R^,W@3_@I-!\2/B+\9_BS^VA\`_$$^C:WXF\9_%J#[-XJ\'Z;%
MJUCIM[/X"T;3U_LO0YUA\,WU_P#VEXNNKG2=+T7QA<>$-+\`_:/_`.#8SQ7X
MAU?QS\;/V?OV\OC)?%WX<:G\;-6N8O#UK\5/#<^A?\)/\`$KQQ
MXR\+:9K_`(HU+Q]J,VGWOB+PYXIT;PU8W.BZHUMI%S;7]@PU"S_K=HH'[2??
M\%M>]MMO+:VBT/Y(/#W_``:T_"3_`(:1_9H\1_$OQ78?$GX$>!O@/JP_:^,/%FOR^,-2/GW]KI'@+4(/%VGC%AXFM?$,5CX"T[0]8
M&NS:]J&OI\6^*/\`@@5_P46D_9*\??#+X[>*=`^.?@;]CGP#\7?#W_!/O]G#
MX5>+(;.3QUX^^,OQ"OM6UWXM^-M5U>Q\,QVS>%M,\0WOBCP[X6U35FOKW5M%
MTSP\%TK0;;5]/\=?W8T4#52?>^V_E?\`.[3>[6ES^0CX(?\`!`;]L/\`8\T3
M]CW]J+]CGXX?#*T_X*$>"M"\6Z;^TRO[2_B/Q[KWP4\4:#\0/`%EX5TGP#H;
M>!]*\1ZE+H_P2L+1/#VBP?89(/%E^MGXL35]&LO#'AWPM5/]L/\`X("?M[_\
M%!OVPO"_Q0_:C_:N^"T_PN@^!_P?\"^+?%OA3PKKEQXQT_6_#&C:=/\`$33/
MA5\--4TF'PQX8B\3^/[7Q#XD3Q0/%>CF/3O%"POX?ND&HZ"/[`Z*`]I*][J]
MFKV5TGKIZ=#\F?\`@FU\#?\`@J1^SB)?@U^V7\?`'@[6?#_P`(
M?B7X97XN3_M3^(]2@\5:6?!LGQ:OO%=A8>!6T73?`BZS87<6GS^)/$XU;^PH
M+GQ7KL%E?:IJ'ZS444$-W=^_;0_*+]K#]@WXF?M*?\%'_P#@G;^U'+XJ\%VO
MP&_8QLOC9XDU[PC?W6NQ>.M6^(_CK2-(LO"]QXKW&
MI:W8/;6_AB:T2PU+^U(Q#^KM%%`-MV7967WM_J%?R\$W_V%_BU?1/!NK_`!7_`&N3I-SXF\4^"Y=5
MA73]8N8OA;I`TKQ)JN@&9KR&\\'7=_=6\!TZUG_K'HH!-J]NJM_7RNO1L_F'
M_P"")G_!&?XG_L;?M(_M)_M._M+:5866M6GBWXD_##]DSP?_`,)78>-5\(?"
M3Q!XXUC7==^(MG<:7>7.DZ%-\0+*;2['1-/%IH_B:RTRX\82>(='TF?Q/)8U
M=_X+S_LJ_P#!2;_@HY_8/[(W[-?P(\!Z;^S]\-;SP?\`'K5/CEXZ^*/A_0KW
MXE?$D:?XO\(Z9\.?!^B8GU'0AX2T[7M;UC6[O5;5;?597TR3^U]$BBTZR\5_
MTUT4#YGS//A[X
M8U?PAX?O_$5]X5^`_P"R;X9L/$W_``DO@#X/Q6&ES>%_$'Q4\9>(]>A\8^(=
M0UK2;'1;SQ7:W>OWOC#6M:\0^+]5\3?IO\;?^""?CVU^,WC3Q1_P3_\`VQ[O
M_@G_`/!GXK?L_?#SX'_%;X:?#3X9G5M9\2V_PTLY](TJ_LO%MIXO\,ZEI5QK
MVDPZ4OB/Q#:3P^+[_5'\4:EJNL:X/%NJ6Q_I*KQ?]H_XUZ'^S;^S]\;?V@_$
MFG76L:#\$_A3X^^*>J:-8RF"]UJT\"^&-3\2/HUG9[I;:ZU8Z/O'U[?\`@'P'X*L%\1^&O&4>DZ?XA\)>%8/%>A:=IV@^&-3_`%9_:A_9
M7_X*I?$;1?@Q_P`%2ZCXPT-BVE7M]XS_:5NK2W\-WVM:OIMA>:SID&DW'_!7A?YJ_
M9J^%?Q)_;*_X*M_\$R?CW\=OB%K7Q6_:0\??#?Q'_P`%&OC/H=C?-"O]E+
M]EN]L5U/]C#X-?#S3+6_>#3[W4_$^J6/B#QS%J\,6LK+XR\'WSPS7DGB+7O&
M7]R]![36MM_\V[_`(*Q?\%//A-^W5_P4&_9-\8Z
M_K'QW^''[*/P/TGX>>)M4\%^+?!LOAGQUX%\:VOC%O%GQHALO!UN)AKWC;7=
M#\-^&O`>@ZC'XJM]$M/$%IIMXWB2RT*#4F/[G_"3_@LW^VGX'_;'_9Y^('_!
M0?P?\-OV0?\`@GQ^VYX'^-FH_`OPUX^MO[*\;?"[3OA#HT&O>'_&WQ'\57EE
M9:S%K_Q$EO?#^E6VC:BJZ5J=GXST"_T+PWHZRV-_K']-OQ#^!7P3^+NL>"/$
M7Q5^$/PR^)6O_#/66\1?#K7/'G@3PQXMU?P'KS-;N^L>#]2U[3+^\\-ZC(]I
M:/)=Z1-9SR26EH\CL]M`T>)\;_V9OV=?VE],T'1OVA_@7\)/CAI?A;4GU?PU
M8_%;X?>%O'EOX?U*9K4W5UHR>)=+U+^S7U!+*UMM52S,,>K64*V.I)=69:`@
MN>+23AHDUO=J_6/9MV;;OV]?`OV&O^"AOP._X*%Z-\4O&'[/7AWXOM\-OAKX
MQA\&:=\4_'WP\NO!/@+XL73QWSWFJ_"74;_4)]3\0Z5HTEC]FUZ/6M(\-:WH
MUU>Z;%J&C0?;H6/W;6'X9\+^&O!6@:3X3\&^'="\)>%M`LH=-T+PUX9TFPT'
M0-%TZW&VWT_2=&TJWM-.TVR@7Y8;6SMH8(APD:BMR@S=KZ*R];_CI^04444"
M"BBB@`HHHH`****`"BBB@`HHHH`****`"BBB@`HHHH`****`"N8\;^"_"WQ(
M\&>+OAWXYT6S\2>"O'OAC7_!?C#P[J`D-AK_`(6\4Z5=Z'X@T6^$,D4QL]5T
MF^N[&Y$4L4AAG<)(C88=/10!^>O[$?\`P2V_8L_X)Z:KX[\0?LO_``PU#PIX
ME^(^GZ/HOBGQ+XB\:^+_`!SK<_A_09'GTOP_I]WXLUC5%T?1X;F3[5<6NEQ6
GK:A-!8'4I;M-*TI++]"J**!MMN[;;[O5A1110(****`"BBB@#__9
`
end
EX-99.CERT
6
c41408_ex99-cert.htm
EX-99.CERT
Exhibit (a)(2)
Certifications
I, Dianna P. Wengler, certify that:
1. |
I have reviewed this report on Form N-CSR of Hilliard-Lyons Government Fund, Inc.; |
|
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report; |
|
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets and
cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
|
4. |
The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
control over financial report (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: |
|
|
a) |
designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
|
|
b) |
designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
|
|
c) |
evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90
days prior to the filing date of this report based on such evaluation; and |
|
|
d) |
disclosed in this report any change in the registrants internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is
reasonably likely to materially affect, the registrants internal control over financial reporting; and |
|
5. |
The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent
functions): |
|
|
a) |
all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process,
summarize, and report financial information; and |
|
|
b) |
any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
|
Date: April 17, 2006
|
/s/
Dianna P. Wengler
|
|
|
|
Dianna P. Wengler
|
|
Vice President and Treasurer
|
|
(Principal Financial Officer)
|
Exhibit (a)(2)
Certifications
I, Joseph C. Curry Jr., certify that:
1. |
I have reviewed this report on Form N-CSR of Hilliard-Lyons Government Fund, Inc.; |
|
2. |
Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements
were made, not misleading with respect to the period covered by this report; |
|
3. |
Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets and
cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report; |
|
4. |
The registrants other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal
control over financial reporting (as defined in Rule 30a-3(d) under Investment Company Act of 1940) for the registrant and have: |
|
|
a) |
designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its
consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; |
|
|
b) |
designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial
reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; |
|
|
c) |
evaluated the effectiveness of the registrants disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90
days prior to the filing date of this report based on such evaluation; and |
|
|
d) |
disclosed in this report any change in the registrants internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is
reasonably likely to materially affect, the registrants internal control over financial reporting; and |
|
5. |
The registrants other certifying officer(s) and I have disclosed to the registrants auditors and the audit committee of the registrants board of directors (or persons performing the equivalent
functions): |
|
|
a) |
all significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrants ability to record, process,
summarize, and report financial information; and |
|
|
b) |
any fraud, whether or not material, that involves management or other employees who have a significant role in the registrants internal control over financial reporting. |
|
Date: April 17, 2006
|
/s/
Joseph C. Curry, Jr.
|
|
|
|
Joseph C. Curry, Jr.
|
|
President
|
|
(Principal Executive Officer)
|
EX-99.906CERT
7
c41408_ex99-906cert.htm
EX-99.906CERT
Exhibit (b)
CERTIFICATION PURSUANT TO
SECTION
906 OF THE SARBANES-OXLEY ACT
In connection with the Semi-Annual Report of Hilliard-Lyons Government Fund, Inc. (the Company) on Form N-CSR for the period ending February 28, 2006 as filed with the Securities and Exchange Commission on the date
hereof (the Report), I, Dianna P. Wengler, Vice President and Treasurer of the Company, certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002, that:
1. The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities
Exchange Act of 1934, as applicable; and
2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: April 17, 2006
|
/s/ Dianna P. Wengler
|
|
|
|
Dianna P. Wengler
|
|
Vice President and Treasurer
|
|
(Principal Financial Officer)
|
A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request. This
certification shall not be deemed as filed by the Company for purposes of the Securities Exchange Act of 1934.
Exhibit (b)
CERTIFICATION PURSUANT TO
SECTION 906 OF THE SARBANES-OXLEY ACT
In connection with the Semi-Annual Report of Hilliard-Lyons Government Fund, Inc. (the Company) on Form N-CSR for period ending February 28, 2006 as filed with the Securities and Exchange Commission on the date hereof
(the Report), I, Joseph C. Curry, Jr., President of the Company, certify, pursuant to 18 U.S.C. ss. 1350, as adopted pursuant to ss. 906 of the Sarbanes-Oxley Act of 2002, that:
1. The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities
Exchange Act of 1934, as applicable; and
2. The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.
Date: April 17, 2006
|
/s/ Joseph C. Curry, Jr.
|
|
|
|
Joseph C. Curry, Jr.
|
|
President
|
|
(Principal Executive Officer)
|
A signed original of this written statement required by Section 906 has been provided to the Company and will be retained by the Company and furnished to the Securities and Exchange Commission or its staff upon request. This
certification shall not be deemed as filed by the Company for purposes of the Securities Exchange Act of 1934.
-----END PRIVACY-ENHANCED MESSAGE-----