Agenda packet — Dublin City Council, November 19, 2024 (part 2 of 3)

Agenda Item 5.5
DATE: November 19, 2024
TO: Honorable Mayor and City Councilmembers
FROM: Colleen Tribby, City Manager
SUBJECT: Tract 8677 The DC (Dublin Centre) Final Map Notice and Agreement for Long Term Encroachment for Landscape Features, and the Dublin Centre Annexation to the Dublin Ranch Street Lighting District 1999-1 Prepared by: Gabrielle Abdon, Senior Civil Engineer
EXECUTIVE SUMMARY:

The City Council will receive notification of the City Engineer’s pending approval of the Final Map for Tract 8677, Planning Area 4 (PA-4) The DC (Dublin Centre). The City Council will consider approving an Agreement for Long Term Encroachment for Landscape Features with Tract 8677, PA-4, and will consider ordering the annexation of Planning Areas 2, 3, and 4 (PA-2, PA-3, and PA- 4) of the Dublin Centre into the Dublin Ranch Street Lighting District 1999-1.

STAFF RECOMMENDATION:

Take the following actions: 1) Receive the notification; 2) Adopt the Resolution Approving the Agreement for Long Term Encroachment for Landscape Features with Tract 8677, PA-4 The DC (Dublin Centre); and 3) Adopt the Resolution Ordering the Annexation of The DC (Dublin Centre) into the Dublin Ranch Street Lighting District 1999-1.

FINANCIAL IMPACT:

There is no impact to the General Fund. All costs associated with the agreement and annexation into the lighting district are borne by the developer.

DESCRIPTION:

Final Map Notice
The Dublin Centre development (formerly known as the SCS Property) is bounded by Tassajara Road, Gleason Drive, Brannigan Street, and Interstate 580. The development is divided into four planning areas (PA-1, PA-2, PA-3, and PA-4). PA-4 (Tract 8677) is located north of Gleason Drive.

The developer has prepared a final map, Tract 8677 (Attachment 5). In accordance with Chapter

9.24.080 of the City of Dublin Municipal Code, this is notice of the following:
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City Engineer’s pending decision on the following Final Map(s):

Tract Location Developer Number of
Units/Lots
Type Proposed
Decision
8677 PA-4 The DC
(Dublin Centre)
Landsea Homes of
California LLC
15 Units Single Family Approve
Agreement for Long Term Encroachment for Landscape Features The Agreement for Long Term Encroachment for Landscape Features provides for the Homeowners Association to maintain project-related landscape and decorative features within the public street rights-of-way along Tassajara Road, Gleason Drive, and Brannigan Street (Attachments 1 and 2). This includes all right-of-way landscape plantings, irrigation, sidewalks, street trees, stormwater treatment, and decorative/stamped pavement. The project conditions of approval require this agreement as a condition of the final map.

Annexation to the Dublin Ranch Street Lighting District The Dublin Ranch Street Lighting District No. 1999-1 funds the electricity, maintenance, and repair of the decorative, public street lighting within Dublin Ranch. Funding for the District comes from assessments on properties. The District was formed in 1999 at the request of the developers of Dublin Ranch Phase I. When the District was created, it was intended that as additional land within Dublin Ranch and eastern Dublin developed, new territory would be annexed to the District and would be subject to the assessment.

The project conditions of approval require the project to annex into the District. The property owner, KL LB BUY 2, LLC, has submitted a petition requesting and consenting to the annexation of Planning Areas 2, 3, and 4 (PA-2, PA-3, and PA-4) of the Dublin Centre into the District (Attachments 3 and 4). PA-2, PA-3, and PA-4 are the residential use areas in the Dublin Centre.

Planning Area 1 (PA-1) will be annexed into the District when the PA-1 property owner subdivides PA-1.

The petition waives the resolutions, reports, notices of public hearing, and the right of majority protest otherwise required by the Landscape and Lighting Act of 1972 for annexation to the District. Upon annexation to the District, the properties would no longer be subject to the Street Lighting Maintenance District No. 1983-1. Each parcel within the City is only subject to one Special Financing District for the purpose of funding the maintenance and service costs for the City’s street lighting system.

STRATEGIC PLAN INITIATIVE:

None.

NOTICING REQUIREMENTS/PUBLIC OUTREACH:

The City Council Agenda was posted.
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ATTACHMENTS:
1) Resolution Approving the Agreement for Long Term Encroachment for Landscape Features with Tract 8677, PA-4 The DC (Dublin Centre)
2) Exhibit A to Resolution – Agreement for Long Term Encroachment for Landscape Features with Tract 8677, PA-4 The DC (Dublin Centre)
3) Resolution Ordering the Annexation of The DC (Dublin Centre) into the Dublin Ranch Street Lighting District 1999-1
4) Exhibits A and B to Resolution – Landowner Petition and Consent to Annexation to Dublin Ranch Street Lighting District 1999-1
5) Tract 8677 Final Map
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Attachment 1
Reso. No. XX-24, Item X.X, Adopted 11/19/2024 Page 1 of 2 RESOLUTION NO. XX – 24

A RESOLUTION OF THE CITY COUNCIL

OF THE CITY OF DUBLIN

APPROVING THE AGREEMENT FOR LONG TERM ENCROACHMENT FOR LANDSCAPE FEATURES WITH TRACT 8677, PA-4 THE DC (DUBLIN CENTRE)
WHEREAS, a Vesting Tentative Map for Tract 8677, The DC (Dublin Centre) was approved by Planning Commission Resolution No. 24-02 on February 13, 2024, with Conditions of Approval; and
WHEREAS, said Conditions of Approval required the developer to construct project-related landscape features within the public rights-of-ways; and WHEREAS, said Conditions of Approval required the developer to enter into an “Agreement for Long Term Encroachment for Landscape Features” for the maintenance of said landscape features; and
WHEREAS, the developer has executed and filed with the City of Dublin Tract Improvement Agreements to construct the required tract improvements, including said landscape features; and WHEREAS, the developer has executed and filed with the City of Dublin an Agreement for Long Term Encroachment for Landscape Features for Tract 8677, PA-4 The DC (Dublin Centre), attached hereto as Exhibit A, which will be recorded against the property concurrently with the Tract 8677 Final Map.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does hereby approve the Agreement for Long Term Encroachment for Landscape Features for Tract 8677, The DC (Dublin Centre), attached hereto as Exhibit A to this Resolution.

BE IT FURTHER RESOLVED that the City Manager, or designee, is authorized to execute Exhibit A and make any necessary, non-substantive changes to Exhibit A to carry out the intent of this Resolution.
{Signatures on the following page}
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Reso. No. XX-24, Item X.X, Adopted XX/XX/2024 Page 2 of 2 PASSED, APPROVED AND ADOPTED this 19th day of November 2024, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
______________________________
Mayor
ATTEST:
_________________________________
City Clerk
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Attachment 2
Exhibit A to the Resolution
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Attachment 3
Reso. No. XX-24, Item X.X, Adopted 11/19/2024 Page 1 of 2 RESOLUTION NO. XX – 24

A RESOLUTION OF THE CITY COUNCIL

OF THE CITY OF DUBLIN

ORDERING THE ANNEXATION OF THE DC (DUBLIN CENTRE) INTO THE DUBLIN RANCH STREET LIGHTING DISTRICT 1999-1
WHEREAS, at the request of the developers of Phase 1 of the Dublin Ranch development, the City formed the Dublin Ranch Street Lighting District No. 1999-1 (“the District”) in 1999; and WHEREAS, the District funds the electric energy, maintenance, and repair costs associated with the decorative street lighting within the Dublin Ranch development; and WHEREAS, when the District was created, it was intended that as additional land within Dublin Ranch and eastern Dublin developed, it would be annexed to the District and the new territory would be subject to the assessment; and
WHEREAS, accordingly, the City annexed Clifden Parc (Tract 7067) to the District in 2000, annexed Dublin Ranch Areas A and G to the District in 2001, annexed Dublin Ranch Areas B, C, F, and H to the District in 2005, annexed Fallon Village (Tract 7586) to the District in 2007, annexed Jordan Ranch (Tracts 8024, 8073, and 8074) to the District in 2011, annexed Tassajara Hills (Tract 8102) to the District in 2017, and annexed Francis Ranch (Tract 8563) to the District in 2023, which became subject to the assessment; and
WHEREAS, in 2024, the property owner of The DC (Dublin Centre) parcels has submitted a Landowner Petition & Consent to Annexation to City of Dublin Landscape Maintenance Assessment District 1999-1 (Dublin Ranch Street Light Maintenance Assessment District) (“Petition”) requesting and consenting to the annexation of the parcels described in Exhibits A and B of the Petition (“the Property”); and
WHEREAS, the property owner’s petition waived the resolutions, reports, notices of public hearing, and the right of majority protest otherwise required by the Landscaping and Lighting Act of 1972 for annexation to the District; and
WHEREAS, upon annexation of the Property to the District, where Property is defined and referenced in Exhibits A and B of the Petition, the Property shall no longer be subject to the Street Lighting Maintenance District No. 1983-1 assessment beginning in Fiscal Year 2025-26.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin hereby confirms the annexation of the land described in Exhibits A and B of the Petition to the Dublin Ranch Street Lighting District 1999-1. The Assessment Diagram for the District shall be amended accordingly.

BE IT FURTHER RESOLVED that the territory annexed hereby, the Property, shall be subject to the assessment set forth in the Engineer’s Report prepared for the District’s Fiscal Year 2025-26 annual assessment. In no event shall the annual per-lot assessment exceed the maximum amount authorized by the Fiscal Year 2025-26 Engineer’s Report for the District. 131
Reso. No. XX-24, Item X.X, Adopted 11/19/2024 Page 2 of 2 PASSED, APPROVED AND ADOPTED this 19th day of November 2024, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
______________________________
Mayor
ATTEST:
_________________________________
City Clerk
132
Attachment 4
Exhibits A and B to the Resolution
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134

EXHIBIT A

Page 1 of 1 ends

G:\job2017\171026\Admin\Stormwater O&M Manual\PA-4\171026-LEGAL FOR PA2-4.docx

REAL PROPERTY SITUATE IN THE CITY OF DUBLIN, COUNTY OF ALAMEDA, STATE OF CALIFORNIA AND BEING ALL OF PARCEL 2, 3, AND 4 PER PARCEL MAP 9512 RECORDED ON JUNE 23, 2008 AND IN BOOK 308 OF MAPS AT PAGE 13, OFFICIAL RECORDS OF ALAMEDA COUNTY.
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AMIER's SJAJEMENI
THE UNDERSIGNED DOES HEREBY STAlE THAT THEY ARE THE OWNER OF ALL THE LANDS DEUNEAlED AND EMBRACED WITHIN THE TRACT BOUNDARY LINE OF THIS ANAL MAP ENTITLED "TRACT 8677, PA-4 THE DC DUBLIN CENTRE, CITY OF DUBLIN, ALAMEDA COUNTY, CALIFORNIA", CONSISTING OF SIX (6) SHEETS, THIS STAlEMENT BEING UPON SHEET ONE (1) THEREOF: THAT THEY CONSENT TO THE PREPARATION AND RUNG OF SAID MAP; THAT SAIO MAP PARTICULARLY SETS FORTH AND DESCRIBES ALL THE LOTS INlENDED FOR SALE BY THEIR NUMBER AND PRECISE WIDTH AND LENGTH; AND THAT SAID MAP PARTICULARLY SETS FORTH

AND DESCRIBES THE PARCELS OF GROUND RESERVED FOR PUBLIC PURPOSES BY THEIR BOUNDARIES, COURSES, AND EXlENT.

THE REAL PROPERTY DESCRIBED BELOW IS DEDICA lED IN FEE FOR PUBLIC PURPOSES:

1. TASSAJARA ROAD AS A PUBLIC STREET

2. GLEASON DRIVE le BRANNIGAN STREET AS PUBLIC STREETS.

THE REAL PROPERTY DESCRIBED BELOW IS DEDICA lED AS AN EASEMENT FOR PUBLIC PURPOSES:

1. THE AREAS DESIGNAlED AS EMERGENCY VEHICLE ACCESS EASEMENT {EVAE), AS DEUNEAlED AND

EMBRACED WITHIN THE BOUNDARIES OF THE HEREIN EMBODIED MAP, FOR THE PURPOSE OF INGRESS AND EGRESS OF PUBLIC SAIFETY VEHICLES AND EMERGENCY EQUIPMENT.

2. THE AREAS DESIGNAlED AS PUBLIC ACCESS EASEMENT {PAE) FOR THE PURPOSE OF PEDESTRIAN INGRESS AND EGRESS. MAINlENANCE OF SAID AREA SHALL BE THE RESPONSIBILITY OF THE HOMEOWNER'S ASSOCIATION GOVERNING TRACT 8677.

3. THE AREAS IN, UNDER, ALONG, AND ACROSS ANY AREA OR STRIP OF LAND DESIGN A lED AS PUBLIC SERVICE EASEMENT (PSE), AS DELINEAlED AND EMBRACED WITHIN THE BOUNDARIES OF THE HEREIN EMBODIED MAP, DEDICAlED TO THE CITY OF DUBLIN FOREVER FOR THE "PURPOSES OF PUBLIC SERVICES" (AS HEREIN DEANED). THE "PURPOSES OF PUBLIC SERVICES" SHALL INCWDE THE CONSTRUCTION, RECONSTRUCTION, REM0"1NG, REPLACING, REPAIRING, MAINTAINING, OPERATING, AND USING "PUBLIC SERVICE FACILITIES" (AS DEANED HEREIN), AND ACCESS THROUGH THE PUBLIC SERVICE EASEMENT FOR THESE PURPOSES. "PUBLIC SER"1CE FACILITIES" SHALL INCWDE PUBLIC UTILITIES, RRE HYDRANTS, ELECTROUERS, IRRIGATION SYSlEMS. SIGNS AND TRAmc SIGNALS, AND ALL NECESSARY APPURlENANCES THERETO SUCH AS BRACES, CONNECTIONS, FASTENINGS, APPLIANCES, AND RXTURES FOR USE IN CCNNECTION THEREWITH. ALL PUBLIC SERVICE EASEMENTS SHALL BE KEPT OPEN AND FREE FROM BUILDINGS OR STRUCTURES OF ANY KIND, WITH THE SOLE EXCEPTION OF PUBLIC SER"1CE FACILITIES, ALL PUBLIC SERVICE EASEMENTS SHALL BE CONSIDERED PUBLIC "WA� AS THAT lERM IS USED IN CALIFORNIA PUBLIC UTILITIES CODE SECTION 6202, AND ALL PUBLIC UTILITIES HOLDING A VALID

FRANCHISE FROM THE CITY SHALL HAVE THE RIGHT TO USE THE PUBLIC SERVICE EASEMENTS IN ACCORDANCE WITH THE lERMS OF THE FRANCHISE.

4. THE AREAS DESIGNAlED AS PUBLIC UTILITY EASEMENT {PUE) FOR CONSTRUCTION AND MAINlENANCE OF APPLICABLE UTILITY STRUCTURES AND APPURlENANCES THERETO. SAID AREAS OR STRIPS OF LAND

ARE TO BE KEPT OPEN AND FREE FROM BUILDINGS AND STRUCTURES OF ANY KIND, EXCEPT APPLICABLE UTILITY STRUCTURES AND APPURlENANCES.

5. THE REAL PROPERTY DESIGNAlED AS "DSRSD" ARE IRREVOCABLY OFFERED FOR DEDICATION TO DUBLIN SAN RAIMON SERVICES DISTRICT {DSRSD), OR ITS DESIGNEE IN GROSS, AS A SUBSURFACE EASEMENT AND SURFACE EASEMENT FOR POTABLE WAlER AND RECYCLED WAlER AND SANITARY SEWER PURPOSES, INCWDING ACCESS THERETO, FOR CONSTRUCTION, OPERATION, MAINlENANCE, REPAIR AND REPLACEMENT OF WORKS. IMPROVEMENTS, AND STRUCTURES, AND THE CLEARING OF OBSTRUCTIONS AND VEGETATION. NO BUILDING OR STRUCTURE MAY BE PLACED ON SAID EASEMENT, NOR SHALL ANYTHING BE DONE THEREIN, NOR ACCESS RESTRIClED THERETO WHICH MAY INlERFERE WITH DSRSD'S FULL ENJOYMENT OF SAIO EASEMENT. SAID "DSRSD" SHALL BE ACCEPlED BY SEPARAlE INSTRUMENT.

6. THOSE PORTIONS OF SAID LANDS DESIGNAlED ON THIS MAP AS "ABUITTR'S RIGHTS RELINQUISHED" OR DEPICTED HEREON BY lHE SYMBOL ".1..LL.L" SHALL PROHIBIT PEDESlRIAN AND VEHICULAR ACCESS TO OR FROM THE AIDJOINING PUBLIC STREET OR PROPERTIES.

7. THE REAL PROPERTY DESIGNAlED AS 1.AVTA" ARE IRREVOCABLY OFFERED FOR DEDICATION TO LIVERMORE AMADOR VALLEY TRANSIT AUTHORITY (LAVTA). OR ITS DESIGNEE IN GROSS, AS A SUBSURFACE EASEMENT AND SURFACE EASEMENT FOR BUS STOP SHELlER AND FURNITURE PURPOSES, INCWDING ACCESS THERETO, FOR CONSTRUCTION, OPERATION, MAINlENANCE, REPAIR AND REPLACEMENT OF WORKS, IMPROVEMENT5, AND STRUCTURES, AND THE CLEARING OF OBSTRUCTIONS. NO BUILDING OR

STRUCTURE MAY BE PLACED ON SAID EASEMENT, NOR SHALL ANYTHING BE DONE THEREIN, NOR ACCESS RESTRIClED THERETO WHICH MAY INlERFERE WITH LAVTA'S FULL ENJOYMENT OF SAID EASEMENT. SAID

1.AVTA'" EASEMENT SHALL BE ACCEPlED BY SEPARAlE INSTRUMENT.

WE ALSO RESERVE TO OURSELVES, OUR HEIRS, AND ASSIGNS THE PRIVAlE EASEMENTS SHOWN HEREON FOR THE USE AND BENEFIT OF THE PRESENT OR FUTURE OWNERS OF THE LOTS AFFEClED BY SUCH EASEMENTS AS DEUNEAlED ON SAID MAP. MAINlENANCE OF SAID EASEMENTS SHALL BE THE RESPONSIBILITY OF THE MASlER HOMEOWNERS ASSOCIATION GOVERNING TRACT 8677.

THIS MAP SHOWS ALL EASEMENTS ON THE PREMISES AND/OR OF RECORD, WITHIN THE BOUNDARY LINES OF THE HEREIN EMBODIED MAP.

OWNER:

KL LB BUY 2 LLC, A DELAWARE UMllED LIABILITY COMPANY
BY: BY: ___________ _
NAME: ___ _ NAME: ___________ _
Till.E: ___ _ TITLE: ___________ _
PMIER's ACKNOWLEQGEMENI
A NOTARY PUBLIC OR OTHER OFRCER COMPLETING THIS CERTIFlCAlE VERIFlES ONLY THE IDENTITY OF THE INDIVIDUAL WHO SIGNED THE DOCUMENT TO WHICH THIS CERTIFlCAlE IS ATTACHED, AND NOT THE TRUTHFULNESS, ACCURACY, OR VALIDITY OF THAT DOCUMENT.

STATE Of ___ _
COUNTY OF _____ _
ON _______ 20_ BEFORE M�-----------

A NOTARY PUBLIC, PERSONALLY APPEARED -
-,,WH"o=-=p"RO"VE=Dc-=TO,...,-,ME:-,,ONc--:TH""E'""°BA""Sl"'S,-Or D
SATISFACTORY EVIDENCE TO BE THE PERSON{S) WHOSE NAME{S) IS/ ARE SUBSCRIBED TO THE WITHIN INSTRUMENT AND ACKNOWLEDGED TO ME THAT HE/ SHE/ THEY EXECUlED THE SAIME IN HIS/ HER/ THEIR AUTHORIZED CAPACITY{IES), AND THAT BY HIS /HER /THEIR

SIGNA TURE(S) ON THE INSTRUMENT THE PERSON(S), OR THE ENTITY ON BEHALF OF WHICH THE PERSON(S) AClED, EXECUlED THE INSTRUMENT.

I CERTIFY UNDER PENALTY OF PERJURY UNDER THE LAWS OF THE STAlE OF CALIFORNIA THAT THE FOREGOING PARAGRAPH IS TRUE AND CCRRECT.

WITNESS MY HAND,
SIGNAlURE: ____________ _
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MY COMMISSION NUMBER: ________ _
MY COMMISSION EXPIRES: ________ _
PRINCIPAL COUNTY OF BUSINESS: ______ _

PPDANEE STAJEMENT
THE UNDERSIGNED, LANDSEA HOMES OF CALIFORNIA LLC. A DELAWARE UMllED LIABILITY

COMPANY, AS OPTIONEE UNDER THAT CERTAIN MEMORANDUM OF OPTION AGREEMENT RECORDED ON MAY 22, 2024 AS DOCUMENT NO. 2024-063874 IN THE OFFlCIAL RECORDS

OF ALAIMEDA COUNTY, DOES HEREBY CONSENT TO THE PREPARATION AND RECCRDATION OF THIS ANAL MAP AND JOINS IN ALL DEDICATIONS THEREON.

IN WITNESS WHEREOF, THE UNDERSIGNED HAVE EXECUlED THIS STAlEMENT ON THE ___ DAY OF _______ 2024.

LANDSEA HOMES OF CALIFORNIA LLC, A DELAWARE UMllED LIABILITY COMPANY BY:
-,N�A �M""E,-------
PPDANEE ACKNOY,lEllGEMENJ
Till.E
A NOTARY Pllll.lC a. OTHER Cl'FlCER COMPI.EfflG THIS CERll'ICATE VERflES CJILY lHE IDENTITY OF lHE INDIVIJUAL MtO SIGNED THE DOCUMENT 10 MIICH TltS CERTIFICATE IS ATTAOtED, NfJ NOT THE lRUTIFUIJEiS, AOOJRACY, °' VAUDITY OF THAT DOa.llENT.

STAlE OF CALIFORNIA
COUNlY OF _____ _
ON THIS __ DAY OF ��=�= 2024, BEFORE ME. ==�==�-

A NOTARY PUBLIC IN AND FOR SAID COUNTY AND STATE, PERSONALLY APPEARED __________ WHO PROVED TO ME ON THE BASIS OF SATISFACTORY E"1DENCE TO BE THE PERSON(S) WHOSE NAME(S) IS/ ARE SUBSCRIBED TO THE WITHIN INSTRUMENT AND ACKNOWLEDGED TO ME THAT HE/ SHE/ THEY EXECUlED THE SAME IN

HIS/ HER/ THEIR AUTHORIZED CAPACITY(IES), AND THAT BY HIS /HER /THEIR

SIGNATURE(S) ON THE INSTRUMENT THE PERSON(S), OR THE ENTITY UPON BEHALF OF WHICH THE PERSON(S) AClED, EXECUlED THE INSTRUMENT.

I CERTIFY UNDER PENALTY OF PERJURY UNDER THE LAWS OF THE STAlE OF CALIFORNIA THAT THE FOREGOING PARAGRAPH IS TRUE AND CORRECT.

WITNESS MY HAND AND omCIAL SEAL,
SIGNATURE: __________ _
PRINT NAME: __________ _
MY COMMISSION NUMBER: _______ _
MY COMMISSION EXPIRES: _______ _
PRINCIPAL COUNTY OF BUSINESS: ____ _
DUBLIN
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VICINITY MAP I
NOTTOSCAI..E

COUNTY RECORDER'S STATEMENT
FILED FOR RECCRD THIS __ DAY OF ___ 20_ AT ___M., IN BOCK __ OF MAPS AT PAGES _ THROUGH _ UNDER SERIES NO. _____ AT THE REQUEST OF FlRST AMERICAN Till.E COMPANY IN THE omcE OF THE COUNTY RECORDER OF ALAMEDA, STA 1£ OF CALIFORNIA.

FEE: $, ___ _
APN: 9B5-0052-025

MELISSA WILK
coUNTY RECORDER IN AND FOR TAE
COUNTY OF ALAIMEDA. STAlE OF CALIFORNIA
BY: __
-::D=EP"U"'TYc-=cou=N=TY=RE""CCR=D=ER�-
TRACT 8677
PA-4 THE DC DUBLIN CENTRE
BEING A SUBDIVIBION OF PARCEL 4 or PARCEL llAP 9612
FUD IN BOOK 308 OF PARCEL IIAPS
AT PAGES 13 THROUGH 18
OffiCIAL RECORDS OF ALAIIEDA COUNTY

CITY OF DUBIJN

ALAMEDA COUNTY, CALIFORNIA

RUGGERI-JENSEN-AZAR

CIVIL ENGINEERS, PLANNERS, SURVEYORS
PLEASAll'l'OII, CALIFORNIA
OCTOBER 2024
IDB NO. 171026PA4 SIIDT 1 OF 6 BBEE'l'S
Attachment 5
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STAFF REPORT

CITY COUNCIL

Page 1 of 3 ends

Agenda Item 5.6
DATE: November 19, 2024
TO: Honorable Mayor and City Councilmembers
FROM: Colleen Tribby, City Manager
SUBJECT: Iron Horse Nature Park and Open Space Phase 1 Project, CIP No. PK0422 – Contract Change Order Authorization
Prepared by: Laurie Sucgang, City Engineer
EXECUTIVE SUMMARY:

The City Council will consider increasing the contract change order authority of the City Manager by $400,000 for the Iron Horse Nature Park and Open Space Phase 1 Project, CIP No. PK0422. This will enable a change to the contract with Goodfellow Bros. California, LLC to compensate the contractor for costs due to delays to the schedule associated with environmental resource agency restrictions and unanticipated delays in obtaining permits from the resource agencies.

STAFF RECOMMENDATION:

Adopt the Resolution Authorizing the City Manager to Approve Contract Change Orders with Goodfellow Bros. California, LLC for the Iron Horse Nature Park and Open Space Phase 1 Project, CIP No. PK0422.

FINANCIAL IMPACT:

The cost resulting from the delays to the schedule associated with environmental resource agency restrictions and unanticipated delays in obtaining permits is estimated at $400,000. There are sufficient funds in the Iron Horse Nature Park and Open Space Project (CIP No. PK0422) budget to fund this work.

DESCRIPTION:

On October 17, 2023, the City Council awarded a construction contract of $3,324,491 to Goodfellow Bros. California, LLC for the Iron Horse Nature Park and Open Space Phase 1 Project, CIP No. PK0422, and authorized the City Manager to approve change orders up to a contingency amount of $335,000 (Resolution No. 108-23). The total potential construction contract amount, including the $335,000 contingency, is $3,659,491.
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The Iron Horse Nature Park and Open Space Phase 1 Project is currently under construction. The contractor has begun grading activities from Amador Valley Boulevard to the stream crossing, excavated existing contaminated soils, placed new materials in this first segment for the new park pathway and amenities, and started the pathway connection and improvements at Stagecoach Park.

Work within the regulated streams and wetlands has been restricted by the permits from three resource agencies: the Regional Water Quality Control Board, the U.S. Army Corps of Engineers, and the California Department of Fish and Wildlife. Although pre-application engagement was conducted and permit applications were submitted to the agencies beginning in April of 2023, the final permit to construct was not issued to the City until September 2024.

Staff, the City’s construction management team, and the contractor updated the construction schedule once the final permit was received. Based on this updated schedule, it was determined that there is not sufficient time remaining before the rainy season to begin work within the regulated streams and wetlands. All work within the jurisdictional areas, including bridge construction, installation of storm drainage culverts, and pathway and amenities installation would have to wait until the end of the rainy season, which is around April 15.

Work that can be accomplished outside of regulated and jurisdictional areas has commenced.

However, the delay to work within the regulated and jurisdictional areas has created inefficiencies. Costs associated with the delay to the schedule, impacts on productivity, and inefficiencies in the contractor’s means and methods are not the fault of the contractor. The City is responsible for paying for items such as storing the new bridge and other materials, constructing a new haul road and access to avoid the streams and wetlands, and overhead costs related to contractor staff and equipment that are on standby due to the delay. The cost for these delays and impacts is estimated to cost approximately $400,000.

Other change orders have been approved for the project that are unrelated to the delay. These change orders have encumbered approximately $136,000 of the approved $335,000 contingency, leaving $199,000 available. The approved change orders were for additional soil testing and removal of contaminated soils, asbestos testing of the old railroad trestle, and changing railroad interpretive signs from single-sided to double-sided.

Since the project is not complete, Staff recommends leaving the remaining $199,000 of contingency balance unencumbered for unforeseen changes that may arise throughout the remaining construction period. To compensate the contractor for the delays and associated impacts caused by the resource agency permitting delays, Staff requests that the City Council authorize an additional $400,000 of change order authority to the City Manager. This will bring the total authorized change order authority to $735,000 and will increase the total potential construction cost to $4,059,491. A budget change is not needed as there are sufficient available funds in the project budget.

STRATEGIC PLAN INITIATIVE:

None.
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Page 3 of 3 ends

NOTICING REQUIREMENTS/PUBLIC OUTREACH:

The City Council Agenda was posted. A copy of this report was sent to Goodfellow Bros. California, LLC.

ATTACHMENTS:
1) Resolution Authorizing the City Manager to Approve Contract Change Orders with Goodfellow Bros. California, LLC for the Iron Horse Nature Park and Open Space Phase 1 Project, CIP No.

PK0422
2) Resolution No. 108-23 – Approving the Plans and Specifications, Waiving a Minor Bid Irregularity, and Awarding a Contract to Goodfellow Bros. California, LLC for the Iron Horse Nature Park and Open Space Project – Phase 1, CIP No. PK0422 3) CIP No. PK0422
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Attachment 1
Reso. No. XX-24, Item X.X, Adopted 11/19/2024 Page 1 of 1 RESOLUTION NO. XX - 24

A RESOLUTION OF THE CITY COUNCIL

OF THE CITY OF DUBLIN

AUTHORIZING THE CITY MANAGER TO APPROVE CONTRACT CHANGE ORDERS WITH GOODFELLOW BROS. CALIFORNIA, LLC FOR THE IRON HORSE NATURE PARK AND OPEN SPACE PHASE 1 PROJECT, CIP NO. PK0422
WHEREAS, on October 17, 2023, the Dublin City Council adopted Resolution No. 108- 23, Approving the Plans and Specifications, Waiving a Minor Bid Irregularity, and Awarding a Contract to Goodfellow Bros. California, LLC for the Iron Horse Nature Park and Open Space Phase 1 Project, CIP No. PK0422; and
WHEREAS, the City Council authorized the City Manager or designee to approve contract change orders based on appropriated funds designated for the Project, up to the contingency amount of $335,000; and
WHEREAS, compensation is due to the contractor for delays associated with the various resource agency permits; and
WHEREAS, sufficient budget is available in the Iron Horse Nature Park and Open Space Project, CIP No. PK0422, to increase the project contingency by $400,000, thereby facilitating payment for the unanticipated delay costs.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does hereby authorize the City Manager, or designee, to approve contract change orders with Goodfellow Bros. California, LLC up to the revised contingency amount of $735,000 and increase the construction contract total to $4,059,491.

PASSED, APPROVED AND ADOPTED this 19th day of November 2024, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
______________________________
Mayor
ATTEST:
_________________________________
City Clerk
146
DocuSign Envelope ID: 504F8FEF-55B2-444E-AC31-81655F27BDD6 RESOLUTION NO. 108 - 23

A RESOLUTION OF THE CITY COUNCIL

OF THE CITY OF DUBLIN

APPROVING THE PLANS AND SPECIFICATIONS, WAIVING A MINOR BID IRREGULARITY, AND AWARDING A CONTRACT TO GOODFELLOW BROS. CALIFORNIA, LLC FOR THE IRON HORSE NATURE PARK AND OPEN SPACE PROJECT-PHASE 1, CIP NO. PK0422
WHEREAS, on October 1, 2013, the City Council approved the Iron Horse Nature Park and Open Space Master Plan to construct a 12.13-acre nature park and open space adjacent to the existing Iron Horse Regional Trail from the Dublin/San Ramon city limit to the confluence of Alamo and South San Ramon Creeks; and
WHEREAS, on December 7, 2021, the City Council approved the filing of an application for the Local Assistance Specified Grant from the State of California, Natural Resources Agency, Department of Parks and Recreation, and the Office of Grants and Local Services in the amount of $2,294,000; and
WHEREAS, the design team has completed the plans and specifications for Phase 1 of the Iron Horse Nature Park and Open Space project, CIP No. PK0422, (Project) which will construct approximately 2,000 linear feet of new trail and park amenities from Amador Valley Boulevard to Stagecoach Park with spur trails connecting the Project to Stagecoach Park and to the existing Iron Horse Regional Trail; and
WHEREAS, the City of Dublin did, on September 13, 2023, publicly open, examine, and declare all sealed bids for doing the work described in the approved plans and specifications for the Project, which plans and specifications are hereby expressly referred to for a description of said work and for all particulars relative to the proceedings under the request for bids; and WHEREAS, Goodfellow Bros. California, LLC's bid contained a minor bid irregularity in that there was one document submitted that was missing a signature, however, the signed document has since been submitted and the Public Contract Code and the City's bid documents authorize the City to waive any minor irregularity and proceed with the award of the contract; and WHEREAS, the bids were submitted to Staff and Goodfellow Bros. California, LLC was determined to be the lowest, responsive, and responsible bidder for doing said work.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin hereby approves the Plans and Specifications for the Project.

BE IT FURTHER RESOLVED that the City Council of the City of Dublin does hereby waive the minor bid irregularity in the proposal submitted by Goodfellow Bros. California, LLC.

BE IT FURTHER RESOLVED that the City Council of the City of Dublin does hereby award the Contract for the Project to the lowest, responsive, and responsible bidder, Goodfellow Bros.

California, LLC. at a base bid of three-million three-hundred twenty-four thousand four-hundred ninety-one dollars and zero cents ($3,324,491.00), the particulars of which bids are on file in the Office of the Public Works Director.

Reso. No. 108-23, Item 4.2, Adopted 10/17/2023 Page 1 of2 Attachment 2
147
148
Parks Five-Year Capital Improvement Program 2024-2029 54 Number – PK0422 IRON HORSE NATURE PARK AND OPEN SPACE Program – PARKS

PROJECT DESCRIPTION
This project provides for the planning, design, and construction of 12.13 acres of a nature park and open space adjacent to t he Iron Horse Regional Trail, from the Dublin/San Ramon city limit to the confluence of Alamo and South San Ramon Creeks, that may be developed in partnership with Zone 7 Water Agency. The park size could increase to over 20 acres of usable parkland when combined with adjacent Zone 7 Water Agency property. The park will be designed in accordance with the Iron Horse Nature Park and Open Space Master Plan, which was approved by the City Council on October 1, 2013. The City has already acquired 12.13 acres and the balance of the pa rkland would be accessible through an easement and operational agreement with Zone 7 Water Agency. The City will continue to pursue the acquisition of the Alameda County portion of the Iron Horse Regional Trail corridor to add to the City's portion of the parkland. The Phase I improvements will provide a trail connection to Stagecoach Park and the installation of a shade structure over a picnic area.

In addition to Public Facilit ies Fee, possible funding sources are additional statewide grants or federal grants for projects that provide non -motorized infrastructure and enhancements that promote new or alternate access to parks, waterways, outdoor recreational pursuits, and forested o r other natural environments to encourage health-related active transportation and opportunities for residents and trail users to reconnect with nature, such as Active Transp ortation Program grants or Proposition 68.

PROJECT TIMELINE: Planning and design for Phase 1 began in Fiscal Year 2021-22 and construction was awarded and work began in spring 2024. Phase 1 construction is anticipated to be completed in late 2024.

ANNUAL OPERATING IMPACT: $460,000
2024-2029 CAPITAL IMPROVEMENT PROGRAM

ESTIMATED COSTS
PRIOR
YEARS 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 FUTURE

YEARS TOTALS
9100 – Salaries & Benefits $210,247 $52,000 $262,247
9200 – Contract Services $2,381,226 $196,505 $2,577,731 9400 – Improvements $2,446,027 $1,215,000 $5,014,595 $8,675,622 9500 – Miscellaneous $365,500 $255,000 $620,500
TOTAL $5,403,000 $1,463,505 $5,269,595 $12,136,100
Attachment 3
149

Parks Five-Year Capital Improvement Program 2024-2029 55

FUNDING SOURCE
PRIOR
YEARS 2024-2025 2025-2026 2026-2027 2027-2028 2028-2029 FUTURE

YEARS TOTALS
4100 – Public Facilities Fee $3,056,000 $1,463,505 $2,490,941 $7,010,446 2403 – State Park Grant $2,294,000 $2,294,000
9998 – Unidentified $2,778,654 $2,778,654
1001 – General Fund $53,000 $53,000
TOTAL $5,403,000 $1,463,505 $5,269,595 $12,136,100

150

STAFF REPORT

CITY COUNCIL

Page 1 of 4 ends

Agenda Item 5.7
DATE: November 19, 2024
TO: Honorable Mayor and City Councilmembers
FROM: Colleen Tribby, City Manager
SUBJECT: City Treasurer's Informational Report of Investments for the Quarter Ending September 30, 2024
Prepared by: Chris Rhoades, Financial Analyst
EXECUTIVE SUMMARY:

The City Council will receive an informational report of the City’s investments through the quarter ending September 30, 2024 including a monthly transaction ledger. The City’s investment portfolio for this period totaled $438,121,036 (market value) with an average market yield of

4.22%. As required by the City’s Investment Policy, the City Treasurer (Finance Director) affirms that the City is able to meet its expenditure requirements for the next six months.

STAFF RECOMMENDATION:

Receive the City Treasurer's Informational Report of Investments for the Quarter Ending September 30, 2024.

FINANCIAL IMPACT:

There is no financial impact resulting from this report. Investments are made in accordance with the City’s Investment Policy and State Law. Interest earned is apportioned between funds (i.e., General Fund, Gas Tax Fund, etc.) based upon their proportionate share of the total cash balance.

Based on the financial needs of the City including the timing of revenues and expenditures, the quarterly cash balance can vary from quarter to quarter.

DESCRIPTION:

The total investment portfolio (market value) consists of $303,495,281 managed by Chandler Asset Management (Chandler), and $134,625,755 invested by the City in local government pools, the Local Agency Investment Fund (LAIF) and the California Asset Management Program (CAMP).

The average market yield of the Chandler portfolio and the local pools was 3.89% and 4.96% respectively.
151

Page 2 of 4 ends

The total investment portfolio balance fluctuates throughout the year due to normal cash flow needs and includes both discretionary and restricted funds.

Economic Update Highlights
The following are some highlights from the Economic Update included in the Investment Report prepared by Chandler (Attachment 1).

Recent economic data has shown positive but slower growth this year fueled by consumer spending. While consumers have been resilient, declining savings rates, growing credit card debt, higher delinquencies, and a moderating labor market pose potential headwinds to future economic growth. Inflationary trends are subsiding, but core levels remain above the Fed’s target.

The labor market is showing signs of cooling, reflecting an improved balance between supply and demand for workers. Given the cumulative effects of restrictive monetary policy and tighter financial conditions, Chandler believes the economy will gradually soften and the Fed will continue to lower rates at a measured pace through this year with the ability to move more aggressively should the employment data warrant.

City of Dublin Portfolio
The City's aggregate portfolio has maintained a healthy balance of investment types with minimal change from the prior quarter.

The market value of the City's portfolio increased by $2.97 million from the June 30, 2024 quarter.

The quarterly change results from the normal fluctuations in the timing of incoming revenue, predominantly the receipt of sales tax revenue, expenditures on capital projects, as well as payments to Alameda County for police and fire services. The City’s portfolio increased by $47.99 million from the same quarter the prior year due to General Fund operating revenues exceeding expenditures by $39.5 million on an annual basis, as well as the timing of capital project expenditures (see Table 1 below). Overall market yield-to-maturity has decreased to 4.22%, (shown in Table 2) due to the factors discussed in the Economic Update Highlights. For detailed monthly transactions, see Attachment 2.
152

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Table 1: Portfolio Values and Yield to Maturity
1Includes cash on hand, receivables, payables and accrued interest from the Local Pools. 2Accrued Interest is now shown in Cash.
3Includes cash on hand, receivables and payables from accounts managed by Chandler.

Table 2: Quarterly Holdings (Market Value) by Type, and YTM, Five Quarters Funds Managed by the City
The City participates in two local agency investment pools managed by government finance professionals and treasurers: the Local Agency Investment Fund (LAIF) and the California Asset Management Program (CAMP). Table 3 shows the yields in the pools and with the assets managed by Chandler over the most recent eight quarters.

September 30, 2023 June 30, 2024
Holdings
Market
Value
Market
Value
Par
Value
Book
Value
Market
Value
% of
Subtotal
% of
Total
Portfolio
Book
Yield
Market
Yield
Managed by City
Cash1 293,969 314,182 314,182 314,182 0.2% 0.1% 0.00% 0.00% LAIF 26,297,090 27,087,153 27,392,776 27,392,776 27,392,776 20.3% 6.3% 4.57% 4.57% CAMP 82,616,317 114,468,288 106,918,796 106,918,796 106,918,796 79.4% 24.5% 5.08% 5.08% SUBTOTAL 108,913,407 141,849,410 134,625,755 134,625,755 134,625,755 100.00% 30.85% 4.96% 4.96% Accrued Interest2 222,462 - - 109,135,869 141,849,410 134,625,755 Managed by Chandler
ABS 28,613,814 31,133,561 33,636,162 33,632,451 33,965,921 11.3% 7.7% 4.64% 4.33% Agency 46,770,742 29,682,071 21,160,000 21,226,662 21,005,009 7.0% 4.8% 2.41% 3.84% Cash3 448,879 10,076 10,076 10,076 0.0% 0.0% 0.00% 0.00% Agency CMBS 7,428,709 8,540,328 12,066,167 11,737,750 11,859,631 3.9% 2.8% 3.94% 3.90% Money Market 859,487 356,932 2,161,116 2,161,116 2,161,116 0.7% 0.5% 4.54% 4.54% Supranational 23,103,092 26,304,657 27,525,000 27,201,694 27,039,073 9.0% 6.3% 2.46% 3.84% Corporate 70,490,952 75,954,352 78,690,000 78,229,235 78,453,439 26.0% 18.0% 3.68% 4.21% US Treasury 102,206,540 118,846,162 126,500,000 126,269,966 127,188,477 42.2% 29.0% 3.58% 3.59% SUBTOTAL 279,473,336 291,266,941 301,748,521 300,468,950 301,682,742 100.00% 69.15% 3.56% 3.89% Accrued Interest 1,524,241 2,031,616 1,812,539 280,997,577 293,298,557 303,495,281 TOTAL PORTFOLIO 390,133,446 435,147,967 436,374,275 435,094,704 438,121,036 100.00% 4.22% 26,693,832 34,038,589 47,987,590 (10,975,932) 12,838,245 2,973,069 September 30, 2024
Change from Prior Year
Change from Prior Quarter
Holdings (Market Value) 9/30/23 12/31/23 3/31/24 6/30/24 9/30/24 LAIF/CAMP 108,913,407 136,194,650 131,332,074 141,555,441 134,311,573 ABS 28,613,814 25,798,334 27,628,978 31,133,561 33,965,921 Agency 46,770,742 45,535,489 39,102,074 29,682,071 21,005,009 Cash 730,962 742,848 324,258 Agency CMBS 7,428,709 8,685,518 8,630,360 8,540,328 11,859,631 Money Market 859,487 1,159,231 813,046 356,932 2,161,116 Supranational 23,103,092 23,370,361 26,247,930 26,304,657 27,039,073 Corporate 70,490,952 72,851,163 75,214,801 75,954,352 78,453,439 US Treasury 102,206,540 110,817,325 110,896,377 118,846,162 127,188,477 Accrued Interest 1,746,703 2,037,268 1,713,120 2,031,616 1,812,539 TOTAL 390,133,446 426,449,339 422,309,722 435,147,967 438,121,036 YIELD TO MATURITY 5.19% 4.71% 4.92% 4.98% 4.22%
153

Page 4 of 4 ends

Table 3: Quarterly Portfolio Yields, Recent Eight Quarters Market Yield LAIF CAMP Chandler
12/31/22 2.23% 4.50% 4.57%
3/31/23 2.88% 4.92% 4.37%
6/30/23 3.26% 5.20% 4.98%
9/30/23 3.61% 5.52% 5.24%
12/31/23 3.95% 5.56% 4.46%
3/31/24 4.27% 5.48% 4.79%
6/30/24 4.56% 5.44% 4.84%
9/30/24 4.57% 5.08% 3.89%
STRATEGIC PLAN INITIATIVE:

None.

NOTICING REQUIREMENTS/PUBLIC OUTREACH:

The City Council Agenda was posted.

ATTACHMENTS:
1) City of Dublin Investment Report for Period Ending September 30, 2024 2) Transaction Ledger – July through September 2024
154

INVESTMENT REPORT
City of Dublin | As of September 30, 2024
CHANDLER ASSET MANAGEMENT | chandlerasset.com
Chandler Team:

For questions about your account, please call (800) 317-4747, or contact [email protected]
Information contained herein is confidential. We urge you to compare this statement to the one you receive from your qualified custodian. Please see Important Disclosures at the end of the statement.

Attachment 1
155

TABLE OF CONTENTS
City of Dublin | As of September 30, 2024

ECONOMIC UPDATE

ACCOUNT PROFILE

CONSOLIDATED INFORMATION

PORTFOLIO HOLDINGS

TRANSACTIONS
1 156

ECONOMIC UPDATE
2 157



Recent economic data suggests positive but slower growth this year fueled by consumer spending. While the consumer has been resilient, declining savings rates, growing credit card debt, higher delinquencies, and a moderating labor market pose potential headwinds to future economic growth. Inflationary trends are subsiding, but core levels remain above the Fed’s target. The labor market is showing signs of cooling, reflecting an improved balance between supply and demand for workers. Given the cumulative effects of restrictive monetary policy and tighter financial conditions, we believe the economy will gradually soften and the Fed will continue to lower rates at a measured pace through this year with the ability to move more aggressively should the employment data warrant.

The Federal Open Market Committee (FOMC) delivered the first rate cut of the easing cycle with a 50 basis point cut at the September meeting. Although a reduction in the Fed Funds Rate was widely anticipated, the magnitude was somewhat of a surprise, as market participants were split between whether theFOMC would cut by 25 basis points or 50 basis points. Chair Jerome Powell reiterated previous statements acknowledging that monetary policy has shifted into a more balanced approach addressing price stability and full employment in tandem. The Fed released the quarterly Summary of Economic Projections (SEP) which now forecasts a substantially lower median Fed Funds Rate expectation among Fed Governors in 2025 due to lower inflation expectations and a higher projected unemploymentrate. We believe the Fed will continue to lower rates at a measured pace through this year with the ability to move more aggressively should the employment data warrant.

The US Treasury yield curve shifted lower in September following the 50 basis points rate cut by the FOMC mid-month. The 2-year Treasury yield fell 28 basis points to 3.64%, the 5-year Treasury dropped15 basis points to 3.56%, and the 10-year Treasury yield declined 12 basis points to 3.78%. The 2-year and 10-year Treasury yield points on the curve began to normalize to +14 basis points at Septembermonth-end versus -2 basis points at August month-end. The spread between the 2-year Treasury and 10-year Treasury yield one year ago was -47 basis points. The inversion between 3-month and 10-year Treasuries ended the month of September at -85 basis points.

ECONOMIC UPDATE
3 158
-400
-200
0 200
400
600
800
1,000MOM Change In Thousands (000's)
Nonfarm Payroll (000's)
Non-farm Payroll (000's)
3-month average (000's)

0.0%

5.0%

10.0%

15.0%

20.0%

25.0%
Unemployment Rate
Underemployment Rate (U6)
Unemployment Rate (U3)
Rate (%)
The U.S. economy added 254,000 jobs in September,well above expectations of 150,000. The three-monthmoving average and six-month moving average payrolls continued to trend weaker to 186,000 and 167,000 respectively. The unemployment rate declined to 4.1% in September, and the labor participation rate remained at 62.7%, remaining below the pre-pandemic level of 63.3%. The U-6 underemployment rate, which includes those who are marginally attached to the labor force and employed part time for economic reasons declined to 7.7% from 7.9%. Average hourly earnings rose 4.0% year-over-year in September. U.S. labor market data from September surprised to the upside, with strong job growth and a sharper-than-expected drop in unemployment, suggesting the economy may be more resilient than anticipated. The Federal Reserve’s view is that there has been “substantial” progress towards better balance in the labor market between demand and supply for workers.

Source: US Department of Labor Source: US Department of Labor

EMPLOYMENT
4 159
0 2,000
4,000
6,000
8,000
10,000
12,000
14,000
Job Openings
Recession
Historical Average
In Thousands (000's)
The Labor D epartment’s Job Openings and Labor Turnover Survey (JOLTS) increased to 8.04 million job openings in August from an upwardly revised 7.71 million in July. Job openings have increased to a ratio of 1.13 jobs for each unemployed individual. The quits rate, an indicator of job availability, declined to 1.9% from downwardly revised 2.0% in July. That is the lowest level since 2020. While the current level of job openings remains elevated from a historical perspective, the trend is decelerating.

Source: US Department of Labor

JOB OPENINGS & LABOR TURNOVER SURVEY
5 160

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Consumer Price Index (CPI)
CPI YOY % Change
Core CPI YOY % Change
YOY (%) Change

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

8.0%

9.0%

10.0%
Personal Consumption Expenditures (PCE)
PCE Price Deflator YOY % Change
PCE Cor e Deflator Y OY % Change
Fed Target
YOY (%) Change
In September, t he Consumer Price Index (CPI) rose 0.2% month-over-monthand 2.4% year-over-year, down from 2.5% in August, but slightly higher than expected. The Core CPI, which excludes volatile food and energy components, rose by 0.3% month-over-monthand

3.3% year-over-year, also exceeding consensus forecasts. The Personal Consumption Expenditures (PCE) Index rose 0.1% from the previous month and 2.2% year-over-year in August. The Core PCE deflator (the Fed’s preferred gauge) increased 0.1% month-over-month and 2.7% over the past year, still above the Fed’s 2% inflation target. Much of the lingering inflation has been driven by shelter costs and demand for services, but recent data provide confirmation that inflation is moderating.

Source: US Department of Labor Source: US Department of Commerce

INFLATION
6 161
-30.0%
-20.0%
-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%
Retail Sales YOY % Change
YOY (%) Change
Retail Sales g rew more than expected month-over-monthin August at 0.1% after growth of 1.1% in July. On a year-over-year basis, Retail Sales grew 2.1% in August versus 2.9% in July. Control-groupsales, which are used to calculate gross domestic product,rose 0.3% month- over-month in August after last month’s data was revised higher to an increase of 0.4%. E-commerce contributed the most to the increase. The Conference Board’s Consumer Confidence Index for September came in below expectations, contracting to 98.7 after an upward revision to 105.6 in August. The decline reflects recent softening in labor market conditions, and less optimism about the job market and income growth. While the consumer has been resilient, consumption has begun to moderate in the face of declining savings rates, growing credit card debt, higher delinquencies, and a moderating labor market. 0 20
40 60
80 100
120
140
160
Index Level
Consumer Confidence
Recession
Source: US Department of Commerce Source: The Conference Board All time high is 144.70 (1/31/00); All time low is 25.30 (2/28/09)

CONSUMER
7 162
-25.0%
-20.0%
-15.0%
-10.0%
-5.0%

0.0%

5.0%

10.0%

15.0%
Leading Economic Indicators (LEI)
Recession
YOY (%) Change
-1.00
-0.75
-0.50
-0.25

0.00 0.25

0.50 0.75

1.00 Chicago Fed National Activity Index (CFNAI)
Recession
3 Month Average
The Conference B oard’s Leading Economic Index (LEI) remained in negative territory at -0.2% in August, improving from -0.6% in July. The index dropped 5.0% year-over-year. The improvementcan be attributed to a decrease in the yield curve inversion, an increase in building permits, and stock market performance. The Chicago Fed National Activity Index (CFNAI) increased to 0.12 in August from a downwardly revised -0.42 in July, which was above consensus expectations. The three-month moving average fell to -0.17 in August from -0.13 in July, indicating below-trend growth expectations for the economy.

Source: The Conference Board Source: Federal Reserve Bank of Chicago

LEADING INDICATORS OF ECONOMIC ACTIVITY
8 163
0 200
400
600
800
1,000
1,200
1,400
1,600
1,800
2,000
2,200
2,400In Thousands of Units
Annualized Housing Starts
Multi Family Housing Starts
Single Family Housing Starts
Housing starts surprised to the upside on a month-over-monthbasis in August, increasing 9.6% to 1.356 million units versus the previous decline of 6.9% the prior month. Starts were led by the single-family home sector. Total starts were up 3.9% year-over-year. The Freddie Mac average rate for a 30-year fixed mortgage edged down to 6.35% in August from 6.85% in July. According to the Case-Shiller 20-City Home Price Index, housing prices rose 5.9% year-over-year in July, decelerating from 6.5% reported in the previous month. Although the trend is gradually improving, tight inventories and higher mortgage rates continue to impact affordability.

Source: US Department of Commerce Source: S&P
-20.0%
-16.0%
-12.0%
-8.0%
-4.0%

0.0%

4.0%

8.0%

12.0%

16.0%

20.0%

24.0%
S&P/Case-Shiller 20 City Composite Home Price Index
Recession
YOY (%) Change

HOUSING
9 164
40 45
50 55
60 65
70 Institute of Supply Management (ISM) Surveys
ISM Manufacturing ISM Services

EXPANDING

CONTRACTING
The Institute for Supply Management (ISM) Manufacturing index contracted at a slower rate of 47.2 in September compared to 47.5 in August. Demand remains subdued and companies are continuing to reduce head counts through layoffs, attrition and hiring freezes. The ISM Services Index increased to 54.9 in September, increasing from 51.7 in August, due stronger production and new orders. A reading over 50 indicates expansion, while a reading under 50 indicates contraction.

Source: Institute for Supply Management

SURVEY BASED MEASURES
10 165
Components of GDP 9/23 12/ 23 3/24 6/24

1.7% 2.3% 1.3% 1.9%

1.8% 0.2% 0.6% 1.5%
-0.1% 0.1% -0.6% -0.9%

0.3% 0.0% 0.0% 0.3%

0.6% 0.6% 0.3% 0.3%

4.4% 3.2% 1.6% 3.0%
State and Local (Consumption and Gross
Investment)
Personal Consumption Expenditures
Gross Private Domestic Investment
Net Exports and Imports
Federal Government Expenditures
Total
-40.0%
-30.0%
-20.0%
-10.0%

0.0%

10.0%

20.0%

30.0%

40.0%
Gross Domestic Product (GDP)
GDP QOQ % Change
GDP YOY % Change
Source: US Department of Commerce Source: US Department of Commerce According to t he third estimate, second quarter GDP increased at an annualized rate of 3.0%, unchanged from the prior estimate. Growth continues to be powered by personal consumption expenditures. Gross fixed investment, government consumption expenditures, and inventories also had positive contributions, with a negative offset by net exports. The consensus projection calls for 2.0% growth in the third quarter and 2.6% growth for the full year 2024.

GROSS DOMESTIC PRODUCT (GDP)
11 166
Source: Federal Reserve Source: Bloomberg
0 1,000,000
2,000,000
3,000,000
4,000,000
5,000,000
6,000,000
7,000,000
8,000,000
9,000,000
10,000,000
Federal Reserve Balance Sheet Assets
Recession
In $ millions
The Federal Open Market Committee (FOMC) delivered the first rate cut of the easing cycle at the September meeting. Although a reduction in the Fed Funds Rate was widely anticipated, the magnitude was somewhat of a surprise, as market participants were split between whether the FOMC would cut by 25 basis points or 50 basis points. Chair Jerome Powell reiterated previous statements acknowledging that monetary policy has shifted into a more balanced approach addressing price stability and full employment in tandem.

The Fed released the quarterly Summary of Economic Projections (SEP) which now forecasts a substantially lower median Fed Funds Rate expectation among Fed Governors in 2025 to 3.1 – 3.6%. The Fed continues to reduce its holdings of U.S. Treasury securities and agency mortgage-backed securities as per its predefined schedule of $25 billion and $35 billion per month. Since the Fed began its Quantitative Tightening campaign in June 2022, securities holdings have declined by approximately $1.8T to approximately $7.1T.

0.00%

1.00%

2.00%

3.00%

4.00%

5.00%

6.00%
Effective Federal Funds Rate
Recession
Yield (%)

FEDERAL RESERVE
12 167
Source: Bloomberg Source: Bloomberg

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Note Yields
2-Year
5-Year
10-Year
Yield (%)

0.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%
US Treasury Yield Curve
Sep-24
Jun-24
Sep-23
Yield (%)
At the end of September,the 2-year Treasury yield was 140 basis points lower, and the 10-Year Treasury yield was 79 basis points lower, year-over-year. The 2-year and 10-year Treasury yield points on the curve began to normalize to +14 basis points at Septembermonth-end versus -2 basis points at August month-end. The yield curve inversion which began in July 2022 was historically long. The average historical spread (since 2003) is about +110 basis points. The inversion between 3-month and 10-year Treasuries tightened to -85 basis points in September from -121 basis points in August.

BOND YIELDS
13 168

ACCOUNT PROFILE
14 169

OBJECTIVES
City of Dublin | As of September 30, 2024
Investment Objectives
The investment objectives of the City of Dublin are first, to provide safety of principal; second, to provide adequate liquidity to meet all requirements which might be reasonably anticipated; third, to attain a market average rate of return on its investments throughout economic cycles; and fourth, to be diversified to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions.

Chandler Asset Management Performance Objective
The performance objective of the City of Dublin is to earn a return that equals or exceeds the return on of the ICE BofA 1-5 Year Treasury and Agency Index.

Strategy
In order to achieve this objective, the portfolio invests in high quality fixed income instruments consistent with the City's investment policy and California Government Code.
15 170

STATEMENT OF COMPLIANCE
City of Dublin | Account #10198 | As of September 30, 2024 Rules Name Limit Actual Compliance
Status Notes

AGENCY MORTGAGE SECURITIES (CMOS)
Max % (MV) 20.0 3.9 Compliant
Max % Issuer (MV) 20.0 3.9 Compliant
Max Maturity (Years) 5.0 4.3 Compliant

ASSET-BACKED SECURITIES (ABS)
Max % (MV; Non Agency ABS & MBS) 20.0 11.2 Compliant
Max % Issuer (MV) 5.0 1.0 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

BANKERS' ACCEPTANCES
Max % (MV) 40.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 180 0.0 Compliant
Min Rating (A-1 by 1) 0.0 0.0 Compliant

COMMERCIAL PAPER
Max % (MV) 25.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Days) 270 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1) 0.0 0.0 Compliant

CORPORATE MEDIUM TERM NOTES
Max % (MV) 30.0 26.0 Compliant
Max % Issuer (MV) 5.0 1.5 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (A- by 1) 0.0 0.0 C ompliant

FEDERAL AGENCIES
Max % (MV) 100.0 7.0 Compliant
Max % Issuer (MV) 35.0 2.9 Compliant
Max Callables (MV) 25.0 0.0 Compliant
Max Maturity (Years) 5 3 Compliant
16 171

STATEMENT OF COMPLIANCE
City of Dublin | Account #10198 | As of September 30, 2024 Rules Name Limit Actual Compliance
Status Notes

LOCAL AGENCY INVESTMENT FUND (LAIF)
Max Concentration (MV) 75.0 0.0 Compliant

MONEY MARKET MUTUAL FUNDS
Max % (MV; Money Market Fund & Mutual Fund) 20.0 0.7 Compliant Max % Issuer (MV) 20.0 0.7 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

MORTGAGE -BACKED SECURITIES (NON-AGENCY)
Max % (MV) 20.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant

MUNICIPAL SECURITIES (ALL STATES)
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5.0 0.0 Compliant
Min Rating (A- by 1) 0.0 0.0 Compliant

MUTUAL FUNDS
Max % (MV; Money Market Fund & Mutual Fund) 20.0 0.7 Compliant Max % Issuer (MV) 10.0 0.0 Compliant
Min Rating (AAA by 2) 0.0 0.0 Compliant

NEGOTIABLE CERTIFICATES OF DEPOSIT (NCD)
Max % (MV) 30.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 5 0.0 Compliant
Min Rating (A-1 by 1 or A- by 1 if > FDIC Limit) 0.0 0. 0 Compliant

SUPRANATIONAL OBLIGATIONS
Max % (MV) 30.0 9.0 Compliant
Max % Issuer (MV) 10.0 4.3 Compliant
Max Maturity (Years) 5 4 Compliant
Min Rating (AA- by 1) 0.0 0.0 Compliant
17 172

STATEMENT OF COMPLIANCE
City of Dublin | Account #10198 | As of September 30, 2024 Rules Name Limit Actual Compliance
Status Notes

TIME DEPOSITS
Max % (MV) 10.0 0.0 Compliant
Max % Issuer (MV) 5.0 0.0 Compliant
Max Maturity (Years) 1.0 0.0 Compliant
U.S. TREASURIES
Max % (MV) 100.0 42.2 Compliant
Max Maturity (Years) 5 4 Compliant
18 173

PORTFOLIO CHARACTERISTICS
City of Dublin | Account #10198 | As of September 30, 2024 Benchmark* 9/30/2024
Portfolio
6/30/2024
Portfolio
Average Maturity (yrs) 2.69 3.07 3.03
Average Modified Duration 2.52 2.61 2.57
Average Purchase Yield 3.56% 3.32%
Average Market Yield 3.66% 3.89% 4.84%
Average Quality** AA+ AA AA
Total Market Value 303,495,281 293,298,557
*Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index **The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 19 174

SECTOR DISTRIBUTION
City of Dublin | Account #10198 | As of September 30, 2024 Sector as a Percentage of Market Value
Sector 09/30/2024 06/30/2024
US Treasury 42.16% 40.80%
Corporate 26.01% 26.08%
ABS 11.26% 10.69%
Supras 8.96% 9.03%
Agency 6.96% 10.19%
Agency CMBS 3.93% 2.93%
Money Mkt Fd 0.72% 0.12%
Cash 0.00% 0.15%
20 175

ISSUERS
City of Dublin | Account #10198 | As of September 30, 2024 Issuer Investment Type % Portfolio
United States US Treasury 42.16%
International Bank for Recon and Dev Supras 4.30%
Inter-American Development Bank Supras 4.11%
FHLMC Agency CMBS 3.93%
Federal Home Loan Banks Agency 2.87%
FNMA Agency 1.80%
Chase Issuance Trust ABS 1.69%
UnitedHealth Group Incorporated Corporate 1.49%
Bank of Montreal Corporate 1.47%
John Deere Owner Trust ABS 1.43%
FHLMC Agency 1.41%
Bank of America Corporation Corporate 1.39%
Deere & Company Corporate 1.35%
The Toronto-Dominion Bank Corporate 1.35%
Toyota Motor Corporation Corporate 1.29%
Royal Bank of Canada Corporate 1.18%
Merck & Co., Inc. Corporate 1.17%
Caterpillar Inc. Corporate 1.14%
JPMorgan Chase & Co. Corporate 1.14%
QUALCOMM Incorporated Corporate 0.99%
Amazon.com, Inc. Corporate 0.91%
Tennessee Valley Authority Agency 0.89%
Northwestern Mutual Global Funding Corporate 0.83%
Honeywell International Inc. Corporate 0.81%
Guardian Life Global Funding Corporate 0.80%
MERCEDES-BENZ AUTO RECEIVABLES TRUST ABS 0.80%
Honda Motor Co., Ltd. Corporate 0.79%
Morgan Stanley Corporate 0.77%
BMW Vehicle Owner Trust ABS 0.76%
Realty Income Corporation Corporate 0. 75%
21 176

ISSUERS
City of Dublin | Account #10198 | As of September 30, 2024 Issuer Investment Type % Portfolio
Berkshire Hathaway Inc. Corporate 0.74%
American Express Credit Master Trust ABS 0.73%
First American Govt Oblig fund Money Mkt Fd 0.72%
GM Financial Automobile Leasing Trus ABS 0.69%
Walmart Inc. Corporate 0.68%
Hyundai Auto Receivables Trust ABS 0.64%
The Home Depot, Inc. Corporate 0.64%
GM Financial Securitized Term ABS 0.64%
Toyota Lease Owner Trust 2024-B ABS 0.64%
The Charles Schwab Corporation Corporate 0.62%
Honda Auto Receivables 2024-3 Owner ABS 0.62%
Honda Auto Receivables Owner Trust ABS 0.60%
Metropolitan Life Global Funding I Corporate 0.59%
International Finance Corporation Supras 0.55%
Cisco Systems, Inc. Corporate 0.54%
AbbVie Inc. Corporate 0.51%
Bank of America Credit Card Trust ABS 0.50%
BNY Mellon Corp Corporate 0.49%
Target Corporation Corporate 0.43%
U.S. Bancorp Corporate 0.42%
Met Tower Global Funding Corporate 0.40%
Toyota Lease Owner Trust ABS 0.34%
Toyota Auto Receivables Owner Trust ABS 0.33%
Dominion Energy, Inc. Corporate 0.33%
Hyundai Auto Receivables Trust 2024- ABS 0.28%
Hyundai Auto Lease Securitization Tr ABS 0.26%
M
ercedes-Benz Auto Lease Trust ABS 0.26%
BMW Vehicle Lease Trust ABS 0.06%
Cash Cash 0.00%
TOTAL 100.00%
22 177

QUALITY DISTRIBUTION
Rating 09/30/2024 06/30/2024
AAA 19.2% 18.5%
AA 57.1% 58.2%
A 20.2% 20.9%
BBB 0.3% 0.3%
NR 3.2% 2.2%
Rating 09/30/2024 06/30/2024
AAA 69.3% 69.1%
AA 3.2% 2.7%
A 22.0% 22.6%
NR 5.5% 5.5%
Rating 09/30/2024 06/30/2024
AAA 12.9% 11.4%
AA 60.0% 61.0%
A 10.8% 11.7%
NR 16.3% 15.9%
City of Dublin | Account #10198 | As of September 30, 2024 S&P Rating Moody’s Rating Fitch Rating
23 178
0-.25 .25-.5 .5-1 1-2 2-3 3-4 4-5 5-7 7+
Portfolio 1.1% 1.6% 9.5% 18.3% 23.7% 37.3% 8.5% 0.0% 0.0% ICE BofA 1-5 Year Unsubordinated US Treasury &
Agency Index 0.1% 0.1% 2.2% 34.9% 26.8% 22.5% 13.4% 0.0% 0.0%

DURATION DISTRIBUTION
City of Dublin | Account #10198 | As of September 30, 2024 Portfolio Compared to the Benchmark
24 179
3 Months 12 Months 2 Years 3 Years 5 Years 10 Years Since Inception

TOTAL RATE OF RETURN
City of Dublin 3.48% 8.00% 5.26% 1.25% 1.65% 1.74% 1.64% Benchmark 3.37% 7.44% 4.75% 0.76% 1.28% 1.46% 1.38%
*Periods over 1 year are annualized.

Benchmark: ICE BofA 1-5 Year Unsubordinated US Treasury & Agency Index Total rate of return: A measure of a portfolio’s performance over time. It is the internal rate of return, which equates the beginning value of the portfolio with the ending market value; it includes interest earnings, realized and unrealized gains and losses in the portfolio.

INVESTMENT PERFORMANCE
City of Dublin | Account #10198 | As of September 30, 2024 Total Rate of Return : Inception | 11/01/2013
25 180

PORTFOLIO CHARACTERISTICS
City of Dublin Reporting Account | Account #10219 | As of September 30, 2024 9/30/2024
Portfolio
6/30/2024
Portfolio
Average Maturity (yrs) 0.00 0.00
Average Modified Duration 0.00 0.00
Average Purchase Yield 4.96% 5.26%
Average Market Yield 4.96% 5.26%
Average Quality** AAA AAA
Total Market Value 134,625,755 141,849,410
*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 26 181

SECTOR DISTRIBUTION
City of Dublin Reporting Account | Account #10219 | As of September 30, 2024 Sector as a Percentage of Market Value
Sector 09/30/2024 06/30/2024
LGIP 79.42% 80.70%
LAIF 20.35% 19.10%
Cash 0.23% 0.21%
27 182

ISSUERS
City of Dublin Reporting Account | Account #10219 | As of September 30, 2024 Issuer Investment Type % Portfolio
California Asset Mgmt Program LGIP 79.42%
LAIF LAIF 20.35%
Cash Cash 0.23%
TOTAL 100.00%
28 183

CONSOLIDATED INFORMATION
29 184

PORTFOLIO CHARACTERISTICS
City of Dublin Cons | Account #10221 | As of September 30, 2024 9/30/2024
Portfolio
6/30/2024
Portfolio
Average Maturity (yrs) 2.13 2.03
Average Modified Duration 1.80 1.73
Average Purchase Yield 4.00% 3.96%
Average Market Yield 4.22% 4.98%
Average Quality** AA+ AA+
Total Market Value 438,121,036 435,147,967
*Benchmark: NO BENCHMARK REQUIRED
**The credit quality is a weighted average calculation of the highest of S&P, Moody’s and Fitch. 30 185

SECTOR DISTRIBUTION
City of Dublin Cons | Account #10221 | As of September 30, 2024 Sector as a Percentage of Market Value
Sector 09/30/2024 06/30/2024
US Treasury 29.15% 27.44%
LGIP 24.51% 26.43%
Corporate 17.98% 17.54%
ABS 7.78% 7.19%
LAIF 6.28% 6.25%
Supras 6.20% 6.07%
Agency 4.81% 6.85%
Agency CMBS 2.72% 1.97%
Money Mkt Fd 0.50% 0.08%
Cash 0.07% 0.17%
31 186

PORTFOLIO HOLDINGS
32 187

HOLDINGS REPORT
City of Dublin | Account #10198 | As of September 30, 2024 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
ABS
47788UAC6 JDOT 2021 A3 0.36 09/15/2025 4,199.48 03/02/2021

0.37%
4,198.67
4,199.34

99.81 5.41%
4,191.35

0.67 0.00%
(7.99)
Aaa/NA
AAA

0.96 0.04
05593AAC3 BMWLT 2023-1 A3 5.16
11/25/2025 172,859.36 02/07/2023

5.43%
172,855.25
172,857.66
100.08

4.88%
173,002.02
148.66

0.06%
144.36
Aaa/AAA
NA

1.15 0.25
44934KAC8 HART 2021-B A3 0.38 01/15/2026 113,222.37 07/20/2021

0.60%
113,197.38
113,216.73

99.71 5.49%
112,893.15

19.12 0.04%
(323.58)
NA/AAA
AAA

1.29 0.06
43815GAC3 HAROT 2021-4 A3 0.88
01/21/2026 207,749.64 11/16/2021

0.89%
207,705.85
207,737.44

98.70 5.24%
205,044.74

50.78 0.07%
(2,692.70)
Aaa/NA
AAA

1.31 0.30
47789QAC4 JDOT 2021-B A3 0.52 03/16/2026 204,684.01 07/13/2021

0.52%
204,665.75
204,679.07

98.83 4.69%
202,286.16

47.30 0.07%
(2,392.92)
Aaa/NA
AAA

1.46 0.28
44935FAD6 HART 2021-C A3 0.74 05/15/2026 128,165.07 11/09/2021

0.75%
1 28,136.47
128,156.35

99.08 5.23%
126,984.77

42.15 0.04%
(1,171.58)
NA/AAA
AAA

1.62 0.20
43815BAC4 HAROT 2022-1 A3 1.88
05/15/2026 604,193.39 02/15/2022

1.89%
604,102.51
604,161.65

98.81 4.89%
596,990.61
504.84

0.20%
(7,171.03)
Aaa/AAA
NA

1.62 0.39
05602RAD3 BMWOT 2022-A A3 3.21
08/25/2026
3 97,337.38 05/10/2022

3.23%
397,316.71
397,328.88

99.33 4.75%
394,668.18
212.58

0.13%
(2,660.70)
Aaa/AAA
NA

1.90 0.44
47787JAC2 JDOT 2022 A3 0.36 09/15/2026 428,434.57 03/10/2022

2.34%
428,339.80
428,396.27

98.85 4.69%
423,507.01
441.76

0.14%
(4,889.26)
Aaa/NA
AAA

1.96 0.49
362554AC1 GMCAR 2021-4 A3 0.68
09/16/2026 190,738.93 10/13/2021

0.68%
190,734.06
190,737.29

98.52 4.96%
187,920.95

54.04 0.06%
(2,816.34)
Aaa/AAA
NA

1.96 0.34
448977AD0 HART 2022-A A3 2.22 10/15/2026 509,424.62 03/09/2022

2.23%
509,405.00
509,416.75

98.90 4.95%
503,819.16
502.63

0.17%
(5,597.59)
NA/AAA
AAA

2.04 0.40
380146AC4 GMCAR 2022-1 A3 1.26
11/16/2026 199,730.20 01/11/2022

1.27%
199,712.84
199,723.50

98.64 4.79%
197,018.12
104.86

0.07%
(2,705.38)
NA/AAA
AAA

2.13 0.38
362585AC5 GMCAR 2022-2 A3 3.1
02/16/2027 469,291.49 0
4/05/2022

3.13%
469,193.41
469,247.36

99.15 4.69%
465,322.23
606.17

0.15%
(3,925.13)
Aaa/AAA
NA

2.38 0.54
47800AAC4 JDOT 2022-B A3 3.74 02/16/2027 781,785.57 07/12/2022

3.77%
781,710.90
781,748.25

99.44 4.62%
777,425.70
1,299.50

0.26%
(4,322.54)
Aaa/NA
AAA

2.38 0.66
448988AD7 HALST 24A A3 5.02 03/15/2027 785,000.00 01/17/2024

5.03%
784,851.24
784,883.82
100.81

4.45%
791,366.59
1,751.42

0.26%
6,482.76
NA/AAA
AAA

2.45 1.30
36269FAD8 GMALT 2024-1 A3 5.09
03/22/2027 995,000.00
0 2/08/2024

5.09%
994,875.63
994,900.81
101.00

4.40%
1,004,969.00
1,547.50

0.33%
10,068.19
NA/AAA
AAA

2.47 1.34
33 188

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
89238GAD3 TLOT 2024-A A3 5.25 04/20/2027 1,000,000.00 02/21/2024

5.25%
999,957.80
999,965.78
101.41

4.33%
1,014,131.80
1,604.17

0.34%
14,166.02
NA/AAA
AAA

2.55 1.44
02582JJT8 AMXCA 2022-2 A 3.39 05/17/2027 2,205,000.00 05/17/2022

3.42%
2,204,512.25
2,204,856.14

99.28 4.61%
2,189,126.21
3,322.20

0.73%
(15,729.94)
NA/AAA
AAA

0.62 0.60
47800BAC2 JDOT 2022-C A3 5.09 06/15/2027 1,212,808.73 10/12/2022

5.15%
1,212,714.62
1,212,755.08
100.44

4.58%
1,218,205.13
2,743.64

0.40%
5,450.05
Aaa/NA
AAA

2.71 0.79
36269WAD1 GMALT 2024-2 A3 5.39
07/20/2027 1,055,000.00 05/07/2024

5.85%
1,054,938.71
1,054,946.00
101.83

4.31%
1,074,306.18
1,737.53

0.36%
19,360.18
NA/AAA
AAA

2.80 1.59
58768PAC8 MBART 2022-1 A3 5.21
08/16/2027 2,396,536.99 11/15/2022

5.28%
2,396,062.95
2,396,253.67
100.50

4.50%
2,408,551.31
5,549.31

0.80%
12,297.64
Aaa/AAA
NA

2.88 0.65
891943AD4 TLOT 2024-B A3 4.21 09/20/2027 1,925,000.00 09/10/2024

4.25%
1,924,774.78
1,924,777.65
1 00.05

4.22%
1,926,036.42
3,151.65

0.64%
1,258.77
Aaa/NA
AAA

2.97 1.97
58770JAD6 MBALT 2024-A A3 5.32
01/18/2028 765,000.00 05/17/2024

5.73%
764,910.50
764,919.28
102.19

4.33%
781,773.70
1,808.80

0.26%
16,854.41
Aaa/NA
AAA

3.30 2.06
362583AD8 GMCAR 2023-2 A3 4.47
02/16/2028
6 25,000.00 04/04/2023

4.51%
624,982.81
624,988.03
100.13

4.38%
625,841.25
1,164.06

0.21%
853.22
Aaa/AAA
NA

3.38 1.05
05592XAD2 BMWOT 2023-A A3 5.47
02/25/2028 550,000.00 07/11/2023

5.47%
549,902.54
549,928.08
101.24

4.43%
556,817.31
501.42

0.18%
6,889.23
NA/AAA
AAA

3.41 1.12
89239FAD4 TAOT 2023-D A3 5.54 08/15/2028 980,000.00 11/07/2023

6.30%
979,894.36
979,913.96
102.33

4.19%
1,002,878.30
2,412.98

0.33%
22,964.34
NA/AAA
AAA

3.88 1.64
161571HT4 CHAIT 2023-1 A 5.16 09/15/2028 3,090,000.00 09/07/2023

5.17%
3,089,143.45
3,089,322.54
102.17

4.04%
3,157,066.60
7,086.40

1.05%
67,744.05
NR/AAA
AAA

3.96 1.82
47800RAD5 JDOT 2024 A3 4.96 11/15/2028 550,000.00 03/11/2024

5.12%
549,969.20
549,972.75
101.66

4.20%
559,142.54
1,212.44

0.19%
9,169.79
Aaa/NA
AAA

4.13 2.04
437930AC4 HONDO-242-A3 5.27 11/20/2028 1,000,000.00 0
5/14/2024

5.27%
999,878.50
999,888.33
102.19

4.16%
1,021,893.00
1,903.06

0.34%
22,004.67
NA/AAA
AAA

4.14 1.86
36268GAD7 GMCAR 2024-1 A3 4.85
12/18/2028 445,000.00 01/09/2024

4.91%
444,910.51
444,923.36
101.27

4.18%
450,641.18
899.27

0.15%
5,717.82
Aaa/NA
AAA

4.22 1.74
161571HV9 CHAIT 241 A 4.6 01/16/2029 1,910,000.00 01/24/2024

4.61%
1,909,709.11
1,909,748.28
101.28

4.05%
1,934,392.99
3,904.89

0.64%
24,644.71
NR/AAA
AAA

4.30 2.13
448973AD9
HA
RT 2024-A A3 4.99 02/15/2029 1,170,000.00 03/11/2024

5.05%
1,169,742.02
1,169,770.08
101.69

4.14%
1,189,772.88
2,594.80

0.39%
20,002.81
NA/AAA
AAA

4.38 1.85
096919AD7 BMWOT 2024-A A3 5.18
02/26/2029 1,305,000.00 06/04/2024

5.24%
1,304,801.77
1,304,814.67
102.19

4.05%
1,333,609.12
1,126.65

0.44%
28,794.45
Aaa/AAA
NA

4.41 1.84
34 189

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
44934QAD3 HART 2024-B A3 4.84 03/15/2029 825,000.00 07/16/2024

4.90%
824,875.51
824,880.58
101.71

4.12%
839,074.83
1,774.67

0.28%
14,194.25
NA/AAA
AAA

4.45 2.19
47786WAD2 JDOT 2024-B A3 5.2 03/15/2029 1,110,000.00 06/11/2024

5.26%
1,109,783.00
1,109,796.16
102.53

4.20%
1,138,078.23
2,565.33

0.38%
28,282.06
Aaa/NA
AAA

4.45 2.36
43813YAC6 HAROT 2024-3 A3 4.57
03/21/2029 1,845,000.00 08/09/2024

4.62%
1,844,710.15
1,844,717.25
100.97

4.15%
1,862,821.22
2,342.13

0.62%
18,103.97
Aaa/NA
AAA

4.47 2.07
05522RDJ4 BACCT 2024-1 A 4.93 03/15/2029 1,480,000.00 06/06/2024

4.93%
1,479,916.97
1,479,922.23
102.32

4.03%
1,514,351.24
3,242.84

0.50%
34,429.01
Aaa/AAA
NA

4.45 2.41
33,631,092.99 100.99 33,965,921.18 11.26% Aaa/AAA 3.25
Total ABS 33,636,161.78 4.64% 33,632,451.07 4.33% 59,982.24 333,470.11 AAA 1.47 AGENCY
3137EAEU9 FEDERAL HOME LOAN MORTGAGE
CORP 0.375 07/21/2025 1,745,000.00 07/21/2020

0.48%
1,736,309.90
1,743,604.06

97.12 4
.04%
1,694,828.35
1,272.40

0.56%
(48,775.70)
Aaa/AA+
AA+

0.80 0.79
3135G05X7 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.375 08/25/2025 2,755,000.00 08/25/2020

0.47%
2,742,106.60
2,752,681.45

96.87 3.95%
2,668,643.12
1,033.13

0.88%
(84,038.33)
Aaa/AA+
AA+

0.90 0.88
3137EAEX3 FEDERAL HOME LOAN MORTGAGE
CORP 0.375 09/23/2025 2,655,000.00
0 9/23/2020

0.44%
2,647,008.45
2,653,435.86

96.53 4.03%
2,562,961.32
221.25

0.85%
(90,474.54)
Aaa/AA+
AA+

0.98 0.96
3135G06G3 FEDERAL NATIONAL MORTGAGE
ASSOCIATION 0.5 11/07/2025 2,860,000.00 11/09/2020

0.57%
2,849,761.20
2,857,739.71

96.23 4.04%
2,752,084.48
5,720.00

0.91%
(105,655.23)
Aaa/AA+
AA+

1.10 1.07
3130ATUC9 FEDERAL HOME LOAN BANKS 4.5
12/12/2025 4,000,000.00 02/09/2023

4.22%
4,029,238.40
4,012,333.19
100.73

3.86%
4,029,298.20
54,500.00

1.34%
16,965.01
Aaa/AA+
AA+

1.20 1.14
3130ATS57 FEDERAL HOME LOAN BANKS 4.5
03/10/2028 3,000,000.00 03/21/2023

4.01%
3,065,010.00
3,044,987.64
102.91

3.59%
3,087,373.65
7,875.00

1.02%
42,386.01
Aaa/AA+
AA+

3.44 3.17
880591EZ1 TENNESSEE VALLEY AUTHORITY

3.875 03/15/2028 2,645,000.00 --

3.73%
2,661,791.35
2,656,871.39
100.99

3.57%
2,671,297.81
4,555.28

0.89%
14,426.42
Aaa/AA+
AA+

3.46 3.21
3130AWMN7 FEDERAL HOME LOAN BANKS

4.375 0
6/09/2028 1,500,000.00 07/26/2023

4.27%
1,506,615.00
1,505,008.66
102.57

3.62%
1,538,522.21
20,416.67

0.51%
33,513.55
Aaa/AA+
AA+

3.69 3.35
21,237,840.90 99.34 21,005,009.13 6.96% Aaa/AA+ 1.89
Total Agency 21,160,000.00 2.41% 21,226,661.94 3.84% 95,593.72 (221,652.81) AA+ 1.77

AGENCY CMBS
35 190

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
3137BFE98 FHMS K-041 A2 3.171 10/25/2024 651,167.00 07/01/2021

0.66%
700,462.38
651,167.00

99.66 3.17%
648,983.12
1,720.71

0.22%
(2,183.88)
Aaa/AA+
AAA

0.07 0.23
3137BSRE5 FHMS K-059 A2 3.12 09/25/2026 2,000,000.00 02/18/2022

2.08%
2,085,625.00
2,036,325.76

98.29 3.98%
1,965,898.40
5,200.00

0.65%
(70,427.36)
Aaa/AAA
AAA

1.99 1.80
3137F4D41 FHMS K-074 A2 3.6 01/25/2028 1,000,000.00 07/25/2023

4.73%
954,414.06
966,557.16

99.01 3.88%
990,079.40
3,000.00

0.33%
23,522.24
Aaa/AA+
AAA

3.32 3.01
3137FG6X8 FHMS K-077 A2 3.85 05/25/2028 2,815,000.00 05/24/2023

4.24%
2,763,318.36
2,777,402.90

99.59 3.93%
2,803,321.41
9,031.46

0.93%
25,918.51
Aaa/AA+
AAA

3.65 3.28
3137FK4M5 FHMS K-085 A2 4.06 10/25/2028 1,100,000.00 10/30/2023

5.37%
1,038,253.91
1,049,743.15
100.33

3.93%
1,103,589.30
3,721.67

0.37%
53,846.15
Aaa/AA+
AA+

4.07 3.66
3137FKUP9 FHMS K-087 A2 3.771 12/25/2028 2,500,000.00 07/01/2024

4.86%
2,391,699.22
2,397,618.77

99.26 3.93%
2,481,443.25
7,856.25

0.82%
8 3,824.48
Aaa/AAA
AA+

4.24 3.76
3137H5YC5 FHMS K-748 A2 2.26 01/25/2029 2,000,000.00 08/26/2024

4.08%
1,855,937.50
1,858,935.02

93.32 3.97%
1,866,316.00
3,766.67

0.62%
7,380.98
Aaa/AA+
AAA

4.32 3.95
11,789,710.43
9 8.34 11,859,630.88 3.93% Aaa/AA+ 3.42
Total Agency CMBS 12,066,167.00 3.94% 11,737,749.76 3.90% 34,296.75 121,881.12 AAA 3.09 CASH
CCYUSD Receivable 10,076.22 --

0.00%
10,076.22
10,076.22

1.00 0.00%
10,076.22

0.00 0.00%

0.00 Aaa/AAA
AAA

0.00 0.00
10,076.22 1.00 10,076.22 0.00% Aaa/AAA 0.00
Total Cash 10,076.22 0.00% 10,076.22 0.00% 0.00 0.00 AAA 0.00

CORPORATE
747525AF0 QUALCOMM INC 3.45 05/20/2025 3,000,000.00 --

1.61%
3,159,848.58
3,021,020.86

99.43 4.36%
2,982,939.03
37,662.50

0.99%
(38,081.83)
A2/A
NA

0.64 0.61
438516CB0 HONEYWELL INTERNATIONAL INC

1.35 06/01/2025 2,500,000.00 06/23/2020

0.85%
2,559,500.00
2,507,122.53

98.12 4.24%
2,452,893.30
11,250.00

0.81%
(54,229.23)
A2/A
A

0.67 0.65
78015K7H1 ROYAL BANK OF CANADA 1.15
06/10/2025 1,000,000.00 02/22/2021

0.86%
1,012,240.00
1,001,968.40

97.71 4.55%
977,097.88
3,545.83

0.32%
(24,870.52)
A1/A
AA-

0.69 0.67
66815L2J7 N

ORTHWESTERN MUTUAL
GLOBAL FUNDING 4.0 07/01/2025 2,500,000.00 06/27/2022

4.01%
2,499,150.00
2,499,788.27

99.65 4.47%
2,491,241.40
25,000.00

0.83%
(8,546.87)
Aaa/AA+
AAA

0.75 0.72
36 191

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
02665WDL2 AMERICAN HONDA FINANCE
CORP 1.2 07/08/2025 1,000,000.00 08/10/2021

1.00%
1,007,640.00
1,001,500.14

97.57 4.45%
975,670.31
2,766.67

0.32%
(25,829.83)
A3/A-
A

0.77 0.75
89114QCK2 TORONTO-DOMINION BANK 0.75
09/11/2025 1,000,000.00 02/16/2021

0.81%
997,230.00
999,426.38

96.77 4.28%
967,696.71
416.67

0.32%
(31,729.67)
A1/A
AA-

0.95 0.92
06051GHY8 BANK OF AMERICA CORP 2.015
02/13/2026 1,250,000.00 03/04/2021

1.15%
1,291,725.00
1,253,917.16

98.86 5.43%
1,235,795.96
3,358.33

0.41%
(18,121.20)
A1/A-
AA-

1.37 0.36
46647PBH8 JPMORGAN CHASE & CO 2.005
03/13/2026 1,000,000.00 04/29/2021

1.21%
1,030,270.00
1,003,491.87

98.67 5.85%
986,660.93
1,002.50

0.33%
(16,830.94)
A1/A-
AA-

1.45 0.44
808513BR5 CHARLES SCHWAB CORP 1.15
05/13/2026 1,370,000.00 05/11/2021

1.20%
1,366,821.60
1,368,974.77

95.32 4.17%
1,305,895.52
6,039.42

0.43%
(63,079.24)
A2/A-
A

1.62 1.57
91324PEC2 UNITEDHEALTH GROUP INC 1.15
05/15/2026 2,000,000.00 --

1.90%
1,939,210.15
1 ,976,589.17

95.60 3.97%
1,912,085.86
8,688.89

0.63%
(64,503.31)
A2/A+
A

1.62 1.57
89236TJK2 TOYOTA MOTOR CREDIT CORP

1.125 06/18/2026 2,485,000.00 06/15/2021

1.13%
2,483,906.60
2,484,625.76

95.34 3.96%
2,369,187.35
7,998.59

0.79%
(115,438.41)
A1/A+
A+

1.71 1.66
58989V2D5 MET TOWER GLOBAL FUNDING

1.25 09/14/2026 1,285,000.00
0 9/07/2021

1.27%
1,283,817.80
1,284,538.39

94.65 4.13%
1,216,275.30
758.51

0.40%
(68,263.09)
Aa3/AA-
AA-

1.96 1.89
06368FAC3 BANK OF MONTREAL 1.25
09/15/2026 2,500,000.00 --

1.29%
2,495,539.50
2,498,255.86

94.67 4.11%
2,366,811.05
1,388.89

0.78%
(131,444.81)
A2/A-
AA-

1.96 1.90
931142ER0 WALMART INC 1.05 09/17/2026 585,000.00 09/08/2021

1.09%
583,894.35
584,566.46

94.97 3.74%
555,549.72
238.88

0.18%
(29,016.74)
Aa2/AA
AA

1.96 1.91
59217GER6 METROPOLITAN LIFE GLOBAL
FUNDING I 1.875 01/11/2027 1,860,000.00 01/03/2022

1.90%
1,857,879.60
1,859,033.86

95.34 4.04%
1,773,351.77
7,750.00

0.59%
(85,682.09)
Aa3/AA-
AA-

2.28 2.19
87612EBM7 TARGET CORP 1.95 01/15/2027 1,340,000.00 01/19/2022

1.99%
1,337,722.00
1,338,951.90

96.06 3.76%
1,287,197.74
5,516.33

0.43%
(51,754.15)
A2/A
A

2.29 2.20
808513BY0 CHARLES SCHWAB CORP 2.45
03/03/2027 585,000.00 0
3/01/2022

2.47%
584,368.20
584,694.48

96.04 4.19%
561,823.11
1,114.75

0.19%
(22,871.37)
A2/A-
A

2.42 2.31
084664CZ2 BERKSHIRE HATHAWAY FINANCE
CORP 2.3 03/15/2027 2,295,000.00 03/07/2022

2.30%
2,294,563.95
2,294,786.27

96.79 3.68%
2,221,345.58
2,346.00

0.74%
(73,440.69)
Aa2/AA
A+

2.45 2.35
40139LBF9 GUARDIAN LIFE GLOBAL FUNDING

3.246 03/29/2027 765,000.00 03/24/2022

3.25%
765,000.00
765,000.00

98.02 4.09%
749,880.71
137.96

0.25%
(15,119.29)
Aa1/AA+
NA

2.49 2.37
023135CF1 AMAZON.COM INC 3.3
04/13/2027 1,750,000.00 04/25/2022

3.34%
1 ,746,972.50
1,748,456.18

98.72 3.83%
1,727,650.02
26,950.00

0.57%
(20,806.16)
A1/AA
AA-

2.53 2.37
46647PCB0 JPMORGAN CHASE & CO 1.578
04/22/2027 500,000.00 08/23/2022

4.64%
449,845.00
478,054.09

95.80 4.92%
478,984.64
3,484.75

0.16%
930.54
A1/A-
AA-

2.56 1.50
37 192

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
927804GH1 VIRGINIA ELECTRIC AND POWER
CO 3.75 05/15/2027 1,000,000.00 --

3.75%
999,773.40
999,865.74

99.23 4.06%
992,289.52
14,166.67

0.33%
(7,576.22)
A2/BBB+
A

2.62 2.44
14913R3A3 CATERPILLAR FINANCIAL SERVICES
CORP 3.6 08/12/2027 1,375,000.00 --

3.89%
1,357,243.75
1,364,674.15

99.38 3.83%
1,366,422.41
6,737.50

0.45%
1,748.26
A2/A
A+

2.87 2.68
931142EX7 WALMART INC 3.95 09/09/2027 1,500,000.00 --

3.97%
1,498,302.30
1,499,002.39
100.69

3.70%
1,510,349.48
3,620.83

0.50%
11,347.08
Aa2/AA
AA

2.94 2.67
89236TKJ3 TOYOTA MOTOR CREDIT CORP

4.55 09/20/2027 1,500,000.00 11/22/2022

4.88%
1,479,060.00
1,487,102.87
101.61

3.97%
1,524,139.98
2,085.42

0.51%
37,037.11
A1/A+
A+

2.97 2.75
023135CP9 AMAZON.COM INC 4.55
12/01/2027 1,000,000.00 01/17/2023

4.21%
1,014,400.00
1,009,281.28
102.09

3.84%
1,020,872.46
15,166.67

0.34%
11,591.18
A1/AA
AA-

3.17 2.82
89115A2M3 TORONTO-DOMINION BANK 5.156
01/10/2028 3,000,000.00 --

5.28%
2,984,380.00
2,988,822.00
103.00
4 .17%
3,089,945.67
34,803.00

1.02%
101,123.67
A1/A
AA-

3.28 2.96
756109AU8 REALTY INCOME CORP 3.65
01/15/2028 960,000.00 04/10/2023

4.87%
910,540.80
925,842.15

98.18 4.25%
942,550.30
7,397.33

0.31%
16,708.15
A3/A-
WR

3.29 3.04
24422EWR6 JOHN DEERE CAPITAL CORP 4.75
01/20/2028 2,000,000.00 01/23/2023

4.40%
2,030,780.00
2,020,384.78
1 02.40

3.97%
2,047,986.34
18,736.11

0.68%
27,601.56
A1/A
A+

3.31 3.01
06051GGF0 BANK OF AMERICA CORP 3.824
01/20/2028 3,000,000.00 --

5.54%
2,824,349.55
2,894,629.98

98.92 4.94%
2,967,541.02
22,625.33

0.98%
72,911.04
A1/A-
AA-

3.31 2.16
06368LGV2 BANK OF MONTREAL 5.203
02/01/2028 2,000,000.00 08/17/2023

5.56%
1,972,380.00
1,979,297.75
103.12

4.19%
2,062,376.92
17,343.33

0.68%
83,079.17
A2/A-
AA-

3.34 2.95
91324PEP3 UNITEDHEALTH GROUP INC 5.25
02/15/2028 1,500,000.00 02/21/2023

4.90%
1,522,890.00
1,515,383.82
104.07

3.95%
1,561,003.79
10,062.50

0.52%
45,619.96
A2/A+
A

3.38 2.99
46647PAF3 JPMORGAN CHASE & CO 3.54
05/01/2028 2,000,000.00 08/16/2023

5.75%
1,854,340.00
1,898,512.04

98.19 4.81%
1,963,837.54
29,500.00

0.65%
65,325.50
A1/A-
AA-

3.59 2.40
58933YBH7 MERCK & CO INC 4.05 05/17/2028 3,500,000.00 -- 4 .06%
3,497,960.40
3,498,521.66
100.84

3.80%
3,529,461.64
52,762.50

1.17%
30,939.98
A1/A+
NA

3.63 3.23
06406RBG1 BANK OF NEW YORK MELLON
CORP 3.992 06/13/2028 1,500,000.00 10/26/2023

6.16%
1,395,930.00
1,422,459.19

99.51 4.65%
1,492,632.45
17,964.00

0.49%
70,173.26
A1/A
AA-

3.70 2.50
02665WEM9 AMERICAN HONDA FINANCE
CORP 5.125 07/07/2028 1,370,000.00 10/12/2023

5.60%
1,343,288.50
1,348,720.56
103.32

4.16%
1,415,426.53
16,382.92

0.47%
66,705.97
A3/A-
A

3.77 3.37
78016HZS2 ROYAL BANK OF CANADA 5.2
08/01/2028 2,500,000.00 09/07/2023

5.54%
2,464,100.00
2,471,858.90
103.90

4.09%
2,597,576.40
21,666.67

0.86%
1 25,717.50
A1/A
AA-

3.84 3.43
756109BS2 REALTY INCOME CORP 4.7
12/15/2028 1,300,000.00 --

4.98%
1,285,086.00
1,286,580.28
101.47

4.31%
1,319,077.21
17,990.56

0.44%
32,496.93
A3/A-
NA

4.21 3.67
38 193

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91324PEU2 UNITEDHEALTH GROUP INC 4.25
01/15/2029 1,000,000.00 01/23/2024

4.61%
984,020.00
986,218.68
100.86

4.03%
1,008,613.99
8,972.22

0.33%
22,395.31
A2/A+
A

4.29 3.79
24422EXH7 JOHN DEERE CAPITAL CORP 4.5
01/16/2029 2,000,000.00 04/18/2024

5.16%
1,945,100.00
1,950,240.92
101.84

4.03%
2,036,725.14
18,750.00

0.68%
86,484.22
A1/A
A+

4.30 3.84
91159HJK7 US BANCORP 4.653 02/01/2029 1,250,000.00 04/11/2024

5.66%
1,207,450.00
1,212,634.54
100.97

4.71%
1,262,098.50
9,693.75

0.42%
49,463.97
A3/A
A

4.34 3.04
17275RBR2 CISCO SYSTEMS INC 4.85
02/26/2029 1,565,000.00 02/21/2024

4.86%
1,564,452.25
1,564,517.61
103.42

3.99%
1,618,496.74
7,379.41

0.54%
53,979.13
A1/AA-
NA

4.41 3.86
14913UAJ9 CATERPILLAR FINANCIAL SERVICES
CORP 4.85 02/27/2029 2,000,000.00 08/26/2024

4.19%
2,053,700.00
2,052,557.45
103.47

3.98%
2,069,397.12
9,161.11

0.69%
16,839.67
A2/A
A+

4.41 3.93
00287YDS5 ABBVIE INC 4.8 03/15/2029 1,500,000.00 07/22/2024

4.68%
1,507,245.00
1,506,940.95
102.92

4.08%
1 ,543,734.41
3,200.00

0.51%
36,793.45
A3/A-
NA

4.45 3.91
61747YFD2 MORGAN STANLEY 5.164
04/20/2029 2,250,000.00 05/30/2024

5.44%
2,228,212.50
2,230,099.73
102.79

4.74%
2,312,686.71
51,962.75

0.77%
82,586.98
A1/A-
A+

4.55 3.16
437076DC3 HOME DEPOT INC 4.75
06/25/2029 1,875,000.00
0 7/18/2024

4.59%
1,887,993.75
1,887,450.82
103.07

4.03%
1,932,585.79
23,750.00

0.64%
45,134.97
A2/A
A

4.73 4.10
40139LBJ1 GUARDIAN LIFE GLOBAL FUNDING

4.179 09/26/2029 1,675,000.00 --

4.21%
1,672,866.75
1,672,872.10

99.68 4.25%
1,669,577.52
972.20

0.55%
(3,294.58)
Aa1/AA+
NA

4.99 4.45
Total Corporate 78,690,000.00 3.68%
78,232,989.78
78,229,235.11

99.78 4.21%
78,453,439.44
600,268.23

26.01%
224,204.33
A1/A
A+

2.88 2.48

MONEY MARKET
FUND
31846V203 FIRST AMER:GVT OBLG Y 2,161,115.51 --

4.54%
2,161,115.51
2,161,115.51

1.00 4.54%
2,161,115.51

0.00 0.72%

0.00 Aaa/AAAm
AAA

0.00 0.00
Total Money Market
Fund 2,161,115.51 4.54%
2,161,115.51
2,161,115.51

1.00 4.54%
2,161,115.51

0.00 0.72%

0.00 Aaa/AAAm
AAA

0.00 0.00

SUPRANATIONAL
459058JB0

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 0.625 04/22/2025
2,260,000.00 04/15/2020

0.70%
2,251,253.80
2,259,027.67
9 7.95

4.38%
2,213,717.82
6,248.52

0.73%
(45,309.85)
Aaa/AAA
NA

0.56 0.54
39 194

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
4581X0DN5 INTER-AMERICAN DEVELOPMENT
BANK 0.625 07/15/2025 1,685,000.00 01/13/2021

0.53%
1,692,329.75
1,686,281.14

97.26 4.19%
1,638,884.58
2,223.26

0.54%
(47,396.56)
Aaa/AAA
NA

0.79 0.77
459058JL8

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 0.5 10/28/2025
6,000,000.00 --

0.55%
5,986,632.00
5,996,974.90

96.30 4.06%
5,777,743.38
12,750.00

1.92%
(219,231.52)
Aaa/AAA
NA

1.08 1.05
4581X0DV7 INTER-AMERICAN DEVELOPMENT
BANK 0.875 04/20/2026 4,615,000.00 04/13/2021

0.97%
4,593,863.30
4,608,448.32

95.52 3.87%
4,408,462.92
18,059.39

1.46%
(199,985.40)
Aaa/AAA
NA

1.55 1.51
459058KT9

INTERNATIONAL BANK FOR

RECONSTRUCTION AND
DEVELOPM 3.5 07/12/2028
5,000,000.00 --

4.35%
4,813,059.00
4,856,102.06

99.62 3.61%
4,980,928.95
38,402.78

1.65%
124,826.89
Aaa/AAA
NA

3.78 3.48
45950KDD9 INTERNATIONAL FINANCE CORP

4.5 07/13/2028 1,605,000.00 07/06/2023

4.53%
1,603,218.45
1,603,653.35
103.31

3.56%
1,658,158.07
15,648.75

0.55%
54,504.71
Aaa/AAA
NA

3.79 3.43
4581X0DC9 INTER-AMERICAN DEVELOPMENT
BANK 3.125 09/18/2028 3,360,000.00 --

4.33%
3,187,150.40
3 ,216,913.15

98.27 3.60%
3,301,891.52
3,791.67

1.09%
84,978.37
Aaa/AAA
NA

3.97 3.69
4581X0EN4 INTER-AMERICAN DEVELOPMENT
BANK 4.125 02/15/2029 3,000,000.00 02/15/2024

4.34%
2,970,690.00
2,974,293.42
101.98

3.63%
3,059,286.06
15,812.50

1.01%
84,992.64
Aaa/AAA
NA

4.38 3.96
Total Supranational 27,525,000.00 2.46%
27,098,196.70
27,201,694.02

98.29 3.84%
27,039,073.30
112,936.87

8.96%
(
162,620.72)
Aaa/AAA
NA

2.49 2.31

US TREASURY
91282CBQ3 UNITED STATES TREASURY 0.5
02/28/2026 2,500,000.00 03/26/2021

0.83%
2,459,960.94
2,488,525.25

95.52 3.79%
2,387,890.63
1,070.44

0.79%
(100,634.63)
Aaa/AA+
AA+

1.41 1.38
91282CBT7 UNITED STATES TREASURY 0.75
03/31/2026 5,000,000.00 --

0.85%
4,974,804.69
4,992,440.95

95.64 3.77%
4,781,835.95
103.02

1.59%
(210,605.00)
Aaa/AA+
AA+

1.50 1.46
91282CCF6 UNITED STATES TREASURY 0.75
05/31/2026 2,000,000.00 06/18/2021

0.90%
1,985,000.00
1,994,955.68

95.25 3.72%
1,904,921.88
5,040.98

0.63%
(90,033.80)
Aaa/AA+
AA+

1.67 1.62
91282CCW9 UNITED STATES TREASURY 0.75
08/31/2026 2,000,000.00 08/30/2021

0.77%
1,998,515.63
1,999,431.78

94.65 3.67%
1,893,046.88
1,284.53

0.63%
(106,384.90)
Aaa/AA+
AA+

1.92 1.87
91282CDG3 UNITED STATES TREASURY 1.125
10/31/2026 5,000,000.00 --

1.25%
4,970,498.06
4 ,987,461.79

94.98 3.65%
4,749,023.45
23,539.40

1.57%
(238,438.34)
Aaa/AA+
AA+

2.08 2.02
912828Z78 UNITED STATES TREASURY 1.5
01/31/2027 4,500,000.00 --

2.15%
4,367,285.16
4,435,367.93

95.31 3.62%
4,288,886.73
11,372.28

1.42%
(146,481.20)
Aaa/AA+
AA+

2.34 2.25
91282CEN7 UNITED STATES TREASURY 2.75
04/30/2027 7,000,000.00 --

3.55%
6,761,484.38
6,867,771.91

97.94 3.59%
6,855,898.42
80,557.07

2.27%
(11,873.49)
Aaa/AA+
AA+

2.58 2.44
40 195

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
91282CEW7 UNITED STATES TREASURY 3.25
06/30/2027 9,000,000.00 --

3.22%
9,018,066.41
9,007,700.22

99.16 3.57%
8,924,062.50
73,919.84

2.96%
(83,637.72)
Aaa/AA+
AA+

2.75 2.58
91282CFM8 UNITED STATES TREASURY 4.125
09/30/2027 10,000,000.00 --

3.95%
10,074,062.50
10,046,381.20
101.61

3.56%
10,160,546.90
1,133.24

3.37%
114,165.70
Aaa/AA+
AA+

3.00 2.80
91282CGC9 UNITED STATES TREASURY 3.875
12/31/2027 10,000,000.00 --

3.70%
10,078,828.13
10,051,941.06
100.95

3.56%
10,095,312.50
97,927.99

3.35%
43,371.44
Aaa/AA+
AA+

3.25 3.00
91282CGT2 UNITED STATES TREASURY 3.625
03/31/2028 7,000,000.00 --

3.58%
7,014,042.96
7,010,028.80
100.20

3.56%
7,014,218.75
697.12

2.33%
4,189.95
Aaa/AA+
AA+

3.50 3.26
91282CHE4 UNITED STATES TREASURY 3.625
05/31/2028 4,500,000.00 --

4.07%
4,412,773.44
4,434,728.67
100.16

3.58%
4,507,031.25
54,820.70

1.49%
72,302.58
Aaa/AA+
AA+

3.67 3.36
91282CHQ7 UNITED STATES TREASURY 4.125
07/31/2028 9,000,000.00 --

4.51%
8,848,203.13
8,880,443.85
101.94
3 .58%
9,174,726.54
62,547.55

3.04%
294,282.69
Aaa/AA+
AA+

3.84 3.50
91282CJA0 UNITED STATES TREASURY 4.625
09/30/2028 3,750,000.00 --

4.92%
3,702,089.84
3,711,247.55
103.88

3.57%
3,895,605.45
476.48

1.29%
184,357.90
Aaa/AA+
AA+

4.00 3.64
91282CJN2 UNITED STATES TREASURY 4.375
11/30/2028 5,500,000.00 --

4.03%
5,584,941.41
5,571,696.67
103.06

3.58%
5 ,668,437.50
80,865.78

1.88%
96,740.83
Aaa/AA+
AA+

4.17 3.74
91282CJR3 UNITED STATES TREASURY 3.75
12/31/2028 5,500,000.00 --

4.00%
5,438,359.38
5,446,960.04
100.67

3.58%
5,536,953.13
52,122.96

1.84%
89,993.08
Aaa/AA+
AA+

4.25 3.86
91282CKD2 UNITED STATES TREASURY 4.25
02/28/2029 13,000,000.00 --

4.44%
12,891,953.13
12,901,928.81
102.78

3.56%
13,361,054.72
47,313.54

4.43%
459,125.91
Aaa/AA+
AA+

4.41 3.99
91282CKP5 UNITED STATES TREASURY 4.625
04/30/2029 12,250,000.00 --

4.42%
12,359,384.76
12,353,147.56
104.42

3.57%
12,791,679.69
237,094.09

4.24%
438,532.13
Aaa/AA+
AA+

4.58 4.04
91282CKX8 UNITED STATES TREASURY 4.25
06/30/2029 6,500,000.00 --

3.96%
6,581,855.47
6,579,621.41
102.92

3.57%
6,689,921.88
69,813.18

2.22%
110,300.46
Aaa/AA+
AA+

4.75 4.24
91282CLK5 UNITED STATES TREASURY 3.625
08/31/2029 2,500,000.00 09/26/2024
3 .55%
2,508,203.13
2,508,184.89
100.30

3.56%
2,507,421.88
7,760.70

0.83%
(763.02)
Aaa/AA+
AA+

4.92 4.45
Total US Treasury 126,500,000.00 3.58%
126,030,312.55
126,269,966.03
100.63

3.59%
127,188,476.61
909,460.89

42.16%
918,510.57
Aaa/AA+
AA+

3.49 3.19
Total Portfolio 301,748,520.51 3.56%
300,191,335.08
300,468,949.65

99.34 3.89%
301,682,742.26
1,812,538.70
100.00%
1,213,792.61
Aa2/AA-
AA

3.07 2.61
Total Market Value +
Accrued 303,495,280.96
41 196

HOLDINGS REPORT
City of Dublin Reporting Account | Account #10219 | As of September 30, 2024 Cusip Security Description Par Value/
Units
Purchase
Date
Purchase
Yield
Cost Value
Book Value
Mkt
Price
Mkt
YTM
Market Value
Accrued Int.
% of Port.

Gain/Loss
Moody's/
S&P/
Fitch
Maturity
Duration
CASH
CCYUSD Receivable 314,182.05 --

0.00%
314,182.05
314,182.05

1.00 0.00%
314,182.05

0.00 0.23%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Cash 314,182.05 0.00%
314,182.05
314,182.05

1.00 0.00%
314,182.05

0.00 0.23%

0.00 Aaa/AAA
AAA

0.00 0.00
LAIF
90LAIF$00 Local Agency Investment Fund
State Pool 27,392,776.44 --

4.57%
27,392,776.44
27,392,776.44

1.00 4.57%
27,392,776.44

0.00 20.35%

0.00 NA/NA
NA

0.00 0.00
Total LAIF 27,392,776.44 4.57%
27,392,776.44
27,392,776.44

1.00 4.57%
27,392,776.44

0.00 20.35%

0.00 NA/NA
NA

0.00 0.00

LOCAL GOV

INVESTMENT POOL
90CAMP$00 CAMP 106,918,796.19 --

5.08%
106,918,796.19
106,918,796.19

1.00 5.08%
106,918,796.19

0.00 79.42%

0.00 NA/AAAm
AAA

0.00 0.00
Total Local Gov
Investment Pool 106,918,796.19 5.08%
106,918,796.19
106,918,796.19

1.00 5.08%
106,918,796.19

0.00 79.42%

0.00 NA/AAAm
AAA

0.00 0.00
Total Portfolio 134,625,754.68 4.96%
134,625,754.68
1 34,625,754.68

1.00 4.96%
134,625,754.68

0.00 100.00%

0.00 Aaa/AAA
AAA

0.00 0.00
Total Market Value +
Accrued 134,625,754.68
42 197

TRANSACTIONS
43 198

ACQUISITIONS
Purchase 07/05/2024 3137FKUP9 2,500,000.00 FHMS K-087 A2 3.771 12/25/2028 95.668 4.86% (2,391,699.22) (1,047.50) (2,392,746.72) 0.00 Purchase 07/19/2024 437076DC3 1,875,000.00 HOME DEPOT INC 4.75 06/25/2029 100.693 4.59% (1,887,993.75) (5,937.50) (1,893,931.25) 0.00 Purchase 07/23/2024 00287YDS5 1,500,000.00 ABBVIE INC 4.8 03/15/2029 100.483 4.68% (1,507,245.00) (29,400.00) (1,536,645.00) 0.00 Purchase 07/24/2024 44934QAD3 825,000.00 HART 2024-B A3 4.84 03/15/2029 99.985 5.45% (824,875.51) 0.00 (824,875.51) 0.00 Purchase 07/31/2024 91282CKX8 5,000,000.00 UNITED STATES TREASURY

4.25 06/30/2029 100.914 4.04% (5,045,703.13) (17,900.82) (5,063,603.95) 0.00 Purchase 08/21/2024 43813YAC6 1,845,000.00 HAROT 2024-3 A3 4.57 03/21/2029 99.984 4.66% (1,844,710.15) 0.00 (1,844,710.15) 0.00 Purchase 08/27/2024 14913UAJ9 2,000,000.00

CATERPILLAR FINANCIAL
SERVICES CORP 4.85
02/27/2029
102.685 4.19% (2,053,700.00) 0.00 (2,053,700.00) 0.00
Purchase 08/29/2024 3137H5YC5 2,000,000.00 FHMS K-748 A2 2.26 01/25/2029 92.797 4.08% (1,855,937.50) (3,515.56) (1,859,453.06) 0.00 Purchase 08/30/2024 91282CKX8 1,500,000.00 UNITED STATES TREASURY

4.25 0 6/30/2029 102.410 3.70% (1,536,152.34) (10,567.26) (1,546,719.60) 0.00 Purchase 09/17/2024 891943AD4 1,925,000.00 TLOT 2024-B A3 4.21 09/20/2027 99.988 4.21% (1,924,774.78) 0.00 (1,924,774.78) 0.00 Purchase 09/26/2024 40139LBJ1 1,195,000.00 GUARDIAN LIFE GLOBAL FUNDING 4.179 09/26/2029 99.897 4.20% (
1,193,769.15) 0.00 (1,193,769.15) 0.00
Purchase 09/27/2024 40139LBJ1 480,000.00 GUARDIAN LIFE GLOBAL FUNDING 4.179 09/26/2029 99.812 4.22% (479,097.60) (55.72) (479,153.32) 0.00 Purchase 09/27/2024 91282CLK5 2,500,000.00 UNITED STATES TREASURY

3.625 08/31/2029 100.328 3.55% (2,508,203.13) (6,759.32) (2,514,962.45) 0.00 Total Purchase 25,145,000.00 (25,053,861.26) (75,183.68) (25,129,044.94) 0.00 TOTAL
ACQUISITIONS 25,145,000.00 (25,053,861.26) (75,183.68) (25,129,044.94) 0.00

DISPOSITIONS
Maturity 07/15/2024 79466LAG9 (465,000.00) SALESFORCE INC 0.625 07/15/2024 100.000 0.63% 465,000.00 0.00 465,000.00 0.00 44 199

TRANSACTION LEDGER
City of Dublin | Account #10198|07/01/2024 Through 09/30/2024| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest
Pur/Sold Total Amount Gain/Loss
Total Maturity (465,000.00) 465,000.00 0.00 465,000.00 0.00 Sale 07/02/2024 3137EAEP0 (2,500,000.00)

FEDERAL HOME LOAN
MORTGAGE CORP 1.5
02/12/2025

97.712 1.52% 2,442,800.00 14,583.33 2,457,383.33 (61,266.52) Sale 07/19/2024 00440EAS6 (2,500,000.00) CHUBB INA HOLDINGS LLC

3.15 03/15/2025 98.613 0.80% 2,465,325.00 27,125.00 2,492,450.00 (73,078.54) Sale 07/23/2024 14913R2V8 (1,165,000.00)

CATERPILLAR FINANCIAL
SERVICES CORP 3.4
05/13/2025

98.551 3.44% 1,148,119.15 7,701.95 1,155,821.10 (16,483.96) Sale 07/31/2024 3137EAEP0 (1,700,000.00)

FEDERAL HOME LOAN
MORTGAGE CORP 1.5
02/12/2025

98.094 1.52% 1,667,598.00 11,970.83 1,679,568.83 (34,810.83) Sale 07/31/2024 91282CFP1 (1,500,000.00) UNITED STATES TREASURY

4.25 10/15/2025 99.512 4.29% 1,492,675.78 18,637.30 1,511,313.08 (7,523.60) Sale 08/20/2024 91282CBH3 (500,000.00) UNITED STATES TREASURY

0.375 01/31/2026 94.590 0.58% 472,949.22 101.90 473,051.12 (25,605.90) Sale 08/27/2024 3135G03U5 (1,825,000.00)

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.625 04/22/2025

97.408 0.67% 1,777,696.00 3,960.50 1,781,656.50 (46,813.45) Sale 08/27/2024 90331HPL1 (2,610,000.00) US BANK NA 2.05 01/21/2025 98.718 2 .09% 2,576,539.80 5,350.50 2,581,890.30 (33,012.90) Sale 08/30/2024 91282CBH3 (1,000,000.00) UNITED STATES TREASURY

0.375 01/31/2026 94.871 0.58% 948,710.94 305.71 949,016.65 (48,453.93) Sale 09/12/2024 3135G04Z3 (3,435,000.00)

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.5 06/17/2025

97.089 0.54% 3,335,007.15 4,055.21 3,339,062.36 (
98,909.13)
Sale 09/27/2024 91282CBH3 (1,500,000.00) UNITED STATES TREASURY

0.375 01/31/2026 95.590 0.58% 1,433,847.66 886.55 1,434,734.21 (62,129.08) Total Sale (20,235,000.00) 19,761,268.70 94,678.78 19,855,947.48 (508,087.83) TOTAL
DISPOSITIONS (20,700,000.00) 20,226,268.70 94,678.78 20,320,947.48 (508,087.83) 45 200

TRANSACTION LEDGER
City of Dublin Reporting Account | Account #10219|07/01/2024 Through 09/30/2024| Transaction
Type
Settlement
Date CUSIP Quantity Security Description Price Acq/Disp Yield Amount Interest
Pur/Sold Total Amount Gain/Loss

ACQUISITIONS
Purchase 07/15/2024 90LAIF$00 305,623.54 Local Agency Investment Fund State Pool 1.000 4.53% (305,623.54) 0.00 (305,623.54) 0.00 Purchase 07/31/2024 90CAMP$00 511,262.96 CAMP 1.000 0.00% (511,262.96) 0.00 (511,262.96) 0.00 Purchase 08/22/2024 90CAMP$00 5,800,000.00 CAMP 1.000 0.00% (5,800,000.00) 0.00 (5,800,000.00) 0.00 Purchase 08/27/2024 90CAMP$00 4,000,000.00 CAMP 1.000 0.00% (4,000,000.00) 0.00 (4,000,000.00) 0.00 Purchase 08/30/2024 90CAMP$00 473,257.53 CAMP 1.000 0.00% (473,257.53) 0.00 (473,257.53) 0.00 Purchase 09/30/2024 90CAMP$00 465,987.62 CAMP 1.000 0.00% (465,987.62) 0.00 (465,987.62) 0.00 Purchase 09/30/2024 90CAMP$00 2,100,000.00 CAMP 1.000 0.00% (2,100,000.00) 0.00 (2,100,000.00) 0.00 Total Purchase 13,656,131.65 (13,656,131.65) 0.00 (13,656,131.65) 0.00 TOTAL
ACQUISITIONS 13,656,131.65 (13,656,131.65) 0.00 (13,656,131.65) 0.00

DISPOSITIONS
Sale 07/09/2024 90CAMP$00 (1,400,000.00) CAMP 1.000 0.00% 1,400,000.00 0.00 1,400,000.00 0.00 Sale 07/15/2024 90CAMP$00 (1,300,000.00) CAMP 1.000 0.00% 1,300,000.00 0.00 1,300,000.00 0.00 Sale 07/23/2024 9 0CAMP$00 (4,300,000.00) CAMP 1.000 0.00% 4,300,000.00 0. 00 4,300,000.00 0.00 Sale 07/29/2024 90CAMP$00 (3,900,000.00) CAMP 1.000 0.00% 3,900,000.00 0.00 3,900,000.00 0.00 Sale 08/06/2024 90CAMP$00 (3,300,000.00) CAMP 1.000 0.00% 3,300,000.00 0.00 3,300,000.00 0.00 Sale 08/14/2024 90CAMP$00 (1,100,000.00) CAMP 1.000 0.00% 1,100,000.00 0.00 1,100,000.00 0.00 Sale 09/10/2024 90CAMP$00 (1,200,000.00) CAMP 1.000 0.00% 1,200,000.00 0.00 1,200,000.00 0.00 Sale 09/16/2024 90CAMP$00 (2,400,000.00) CAMP 1.000 0.00% 2,400,000.00 0.00 2,400,000.00 0.00 Sale 09/23/2024 90CAMP$00 (2,000,000.00) CAMP 1.000 0.00% 2,000,000.00 0.00 2,000,000.00 0.00 Total Sale (20,900,000.00) 20,900,000.00 0.00 20,900,000.00 0.00 TOTAL
DISPOSITIONS (20,900,000.00) 20,900,000.00 0.00 20,900,000.00 0.00 46 201

IMPORTANT DISCLOSURES
City of Dublin | As of September 30, 2024
2024 Chandler Asset Management, Inc, An Independent Registered Investment Adviser.

Information contained herein is confidential. Prices are provided by ICE Data Services Inc (“IDS”), an independent pricing source. In the event IDS does not provide a price or if the price provided is not reflective of fair market value, Chandler will obtain pricing from an alternative approved third party pricing source in accordance with our written valuation policy and procedures. Our valuation procedures are also disclosed in Item 5 of our Form ADV Part 2A.

Performance results are presented gross-of-advisory fees and represent the client’s Total Return. The deduction of advisory fees lowers performance results. These results include the reinvestment of dividends and other earnings. Past performance may not be indicative of future results. Therefore, clients should not assume that future performance of any specific investment or investment strategy will be profitable or equal to past performance levels. All investment strategies have the potential for profit or loss. Economic factors, market conditions or changes in investment strategies, contributions or withdrawals may materially alter the performance and results of your portfolio.

Index returns assume reinvestment of all distributions. Historical performance results for investment indexes generally do not reflect the deduction of transaction and/or custodial charges or the deduction of an investment management fee, the incurrence of which would have the effect of decreasing historical performance results. It is not possible to invest directly in an index.

Source I CE Data Indices, LLC (“ICE”), used with permission. ICE permits use of the ICE indices and related data on an “as is” basis; ICE, its affiliates and their respective third party suppliers disclaim any and all warranties and representations, express and/or implied, including any warranties of merchantability or fitness for a particular purpose or use, including the indices, index data and any data included in, related to, or derived therefrom. Neither ICE data, its affiliates or their respective third party providers guarantee the quality, adequacy, accuracy, timeliness or completeness of the indices or the index data or any component thereof, and the indices and index data and all components thereof are provided on an “as is” basis and licensee’s use it at licensee’s own risk. ICE data, its affiliates and their respective third party do not sponsor, endorse, or recommend chandler asset management, or any of its products or services.

This report is provided for informational purposes only and should not be construed as a specific investment or legal advice. The information contained herein was obtained from sources believed to be reliable as of the date of publication, but may become outdated or superseded at any time without notice. Any opinions or views expressed are based on current market conditions and are subject to change. This report may contain forecasts and forward-looking statements which are inherently limited and should not be relied upon as indicator of future results. Past performance is not indicative of future results. This report is not intended to constitute an offer, solicitation, recommendation or advice regarding any securities or investment strategy and should not be regarded by recipients as a substitute for the exercise of their own judgment.

Fixed i ncome investments are subject to interest, credit and market risk. Interest rate risk: the value of fixed income investments will decline as interest rates rise. Credit risk: the possibility that the borrower may not be able to repay interest and principal. Low rated bonds generally have to pay higher interest rates to attract investors willing to take on greater risk. Market risk: the bond market in general could decline due to economic conditions, especially during periods of rising interest rates.

Ratings information have been provided by Moody’s, S&P and Fitch through data feeds we believe to be reliable as of the date of this statement, however we cannot guarantee its accuracy.

Security level ratings for U.S. Agency issued mortgage-backed securities (“MBS”) reflect the issuer rating because the securities themselves are not rated. The issuing U.S. Agency guarantees the full and timely payment of both principal and interest and carries a AA+/Aaa/AAA by S&P, Moody’s and Fitch respectively. 47 202

BENCHMARK DISCLOSURES
City of Dublin | Account #10198 | As of September 30, 2024 Benchmark Disclosure
ICE BofA 1-5 Yr US Treasury & Agency Index
The ICE BofA 1-5 Year US Treasury & Agency Index tracks the performance of US dollar denominated US Treasury and nonsubordinated US agency debt issued in the US domestic market. Qualifying securities must have an investment grade rating (based on an average of Moody’s, S&P and Fitch). Qualifying securities must have at least one year remaining term to final maturity and less than five years remaining term to final maturity, at least 18 months to maturity at time of issuance, a fixed coupon schedule, and a minimum amount outstanding of $1 billion for sovereigns and $250 million for agencies. 48 203

4.25 06/30/2029 1 02.410 3.70% (1,536,152.34) (10,567.26) (1,546,719.60) 0.00 Purchase 09/17/2024 891943AD4 1,925,000.00 TLOT 2024-B A3 4.21 09/20/2027 99.988 4.21% (1,924,774.78) 0.00 (1,924,774.78) 0.00 Purchase 09/26/2024 40139LBJ1 1,195,000.00 GUARDIAN LIFE GLOBAL FUNDING 4.179 09/26/2029 99.897 4.20% (1
,193,769.15) 0.00 (1,193,769.15) 0.00
Purchase 09/27/2024 40139LBJ1 480,000.00 GUARDIAN LIFE GLOBAL FUNDING 4.179 09/26/2029 99.812 4.22% (479,097.60) (55.72) (479,153.32) 0.00 Purchase 09/27/2024 91282CLK5 2,500,000.00 UNITED STATES TREASURY

DISPOSITIONS
Maturity 07/15/2024 79466LAG9 (465,000.00) SALESFORCE INC 0.625 07/15/2024 100.000 0.63% 465,000.00 0.00 465,000.00 0.00 44 Attachment 2
204

FEDERAL HOME LOAN
MORTGAGE CORP 1.5
02/12/2025

97.712 1.52% 2,442,800.00 14,583.33 2,457,383.33 (61,266.52) Sale 07/19/2024 00440EAS6 (2,500,000.00) CHUBB INA HOLDINGS LLC

3.15 03/15/2025 98.613 0.80% 2,465,325.00 27,125.00 2,492,450.00 (73,078.54) Sale 07/23/2024 14913R2V8 (1,165,000.00)

CATERPILLAR FINANCIAL
SERVICES CORP 3.4
05/13/2025

98.551 3.44% 1,148,119.15 7,701.95 1,155,821.10 (16,483.96) Sale 07/31/2024 3137EAEP0 (1,700,000.00)

FEDERAL HOME LOAN
MORTGAGE CORP 1.5
02/12/2025

98.094 1.52% 1,667,598.00 11,970.83 1,679,568.83 (34,810.83) Sale 07/31/2024 91282CFP1 (1,500,000.00) UNITED STATES TREASURY

4.25 10/15/2025 99.512 4.29% 1,492,675.78 18,637.30 1,511,313.08 (7,523.60) Sale 08/20/2024 91282CBH3 (500,000.00) UNITED STATES TREASURY

0.375 01/31/2026 94.590 0.58% 472,949.22 101.90 473,051.12 (25,605.90) Sale 08/27/2024 3135G03U5 (1,825,000.00)

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.625 04/22/2025

0.375 01/31/2026 94.871 0.58% 948,710.94 305.71 949,016.65 (48,453.93) Sale 09/12/2024 3135G04Z3 (3,435,000.00)

FEDERAL NATIONAL

MORTGAGE ASSOCIATION

0.5 06/17/2025

97.089 0.54% 3,335,007.15 4,055.21 3,339,062.36 (
98,909.13)
Sale 09/27/2024 91282CBH3 (1,500,000.00) UNITED STATES TREASURY

STAFF REPORT

CITY COUNCIL

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Agenda Item 5.8
DATE: November 19, 2024
TO: Honorable Mayor and City Councilmembers
FROM: Colleen Tribby, City Manager
SUBJECT: Payment Issuance Report and Electronic Funds Transfer Prepared by: Gloria Tai, Senior Finance Technician
EXECUTIVE SUMMARY:

The City Council will receive a listing of payments issued from October 1, 2024 – October 31, 2024, totaling $8,897,203.06.

STAFF RECOMMENDATION:

Receive the report.

FINANCIAL IMPACT:

Summary of Payments Issued
Report Period October 1, 2024 – October 31, 2024
Total Number of Payments: 311
Total Amount of Payments: $8,897,203.06
DESCRIPTION:

The Payment Issuance Report (Attachment 1) provides a listing of all payments for the period beginning October 1, 2024, through October 31, 2024. This report is provided in accordance with the City Payments Policy adopted November 15, 2011 by Resolution No. 189-11. The listing of payments has been reviewed in accordance with the policies for processing payments and expenditures.

The City’s practice of reporting payments to the City Council after the payments have been made is in compliance with California Government Code Sections 37208 (b) and (c), which allow for an agency to make payments without first being audited by the legislative body, as long as such payments are: 1) conforming to a budget approved by ordinance or resolution of the legislative body; and 2) presented to the legislative body for ratification and approval in the form of an audited comprehensive annual financial report.
207

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STRATEGIC PLAN INITIATIVE:

None.

NOTICING REQUIREMENTS/PUBLIC OUTREACH:

The City Council Agenda was posted.

ATTACHMENTS:
1) Payment Issuance Report for October 2024
208
Date Issued
10/1/2024
10/4/2024
10/4/2024
10/7/2024
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SITEONE LANDSCAPE SUPPLY INC. IRRIGATION UPGRAD PROJECT-CONTROLLER ORDER JUL 2024 35,672.96 SELECT IMAGING NAMETAG FOR HERITAGE AND CULTURAL ARTS COMMISSION 23.89 ROTH STAFFING COMPANIES, L.P. BUSINESS LICENSE TEMP 09/16/24-09/22/24 1,598.40 RRM DESIGN GROUP, A CA CORP LANDSCAPE PLAN CHECK & INSPECTIONS JUL 2024 13,253.90 SURF TO SNOW ENVIRONMENTAL RESOURCE MGMT, INC. MRP STORMWATER INSPECTIONS MAY-JUN 2024 22,763.00 STEPHANIE ANDERSON TRAVEL REIMBURSEMENT- CCPOA 2024 224.88 SUAREZ & MUNOZ CONSTRUCTION WALLIS RANCH COMMUNITY PARK CONSTRUCTION - PROGRESS PAYMENT 1,354,514.75 ROBERT HALF FINANCE DEPARTMENT TEMP 09/20/24-09/27/24 5,882.25 REDWOOD TOXICOLOGY LAB. INC. TOXICOLOGY SERVICES 270.16 QUADIENT LEASING USA, INC. POSTAGE MACHINE LEASE JUL-SEP 2024 210.57 QUENCH USA, INC. WATER SERVICES OCT 2024 1,719.52
SIMPLER SYSTEMS, INC SIMPLER SOFTWARE LICENSING SUPPORT - OCT 2024 1,500.00 PRUDENTIAL OVERALL SUPPLY MAT SERVICES WAVE SEP 2024 80.90 PRUDENTIAL OVERALL SUPPLY MAT SERVICES SENIOR SEP 2024 79.80 PRUDENTIAL OVERALL SUPPLY MAT SERVICES PSC SEP 2024 51.87 PRUDENTIAL OVERALL SUPPLY MAT SERVICES CIVIC SEP 2024 92.38 PAKPOUR CONSULTING GROUP, INC. TO6 - EASTERN DUBLIN TRAFFIC IMPACT FEE - PHASE 2 JUL 2024 4,987.50 PAKPOUR CONSULTING GROUP, INC. CONSTRUCTION MGMT-DON BIDDLE COMM PARK AUG 2024 3,910.00 NICHOLS CONSULTING ENGINEERS, CHTD TO3A - 2025 & 2026 PAVING WORK PLAN AUG 2024 4,661.25 PAKPOUR CONSULTING GROUP, INC. TO6 - EASTERN DUBLIN TRAFFIC IMPACT FEE - PHASE 2 AUG 2024 420.00 MOST DEPENDABLE FOUNTAINS, INC. WATER BOTTLE FILLERS - WATER FOUNTAIN 7,017.42 NICHOLS CONSULTING ENGINEERS, CHTD IRON HORSE NATURE PARK DESIGN SVCS AUG 2024 5,685.03 MGT IMPACT SOLUTIONS, LLC 50% OF SB 90 CLAIMING: VISIT AND DATA COLLECTION 2,500.00 MICHAEL MCCORRISTON CONFERENCE REIMBURSEMENT - TVCC & ACTC 58.36 LPA, INC. TO2 LIBRARY CONCEPT DESIGN JUL 2024 17,627.50 MARK THOMAS & COMPANY, INC. IRON HORSE TRAIL CROSSING DESIGN SVCS AUG 2024 1,821.97 LANLOGIC INC. REPLACE STREET FIBER BOXES 6,526.05
LPA, INC. TO2 LIBRARY CONCEPT DESIGN AUG 2024 17,675.00 LANLOGIC INC. SITUATIONAL CAMERA LICENSES 5,417.84
LANLOGIC INC. NETWORK CABLING 1,445.00
LANLOGIC INC. HERITAGE CTR - CABLING 3,795.10
LANLOGIC INC. GIS ARCHITECTURE REVIEW 1,557.75
LANLOGIC INC. GENERAL ENGINEERING SUPPORT 1,687.50
KASHEF QAADRI CONFERENCE REIMBURSEMENT - AAPI LEADERSHIP SUMMIT 1,229.57 KIMLEY-HORN AND ASSOC. INC. DUBLIN BLVD NORTH CANYONS PRKWY EXT PROJ JUL 2024 6,299.58 EUROPEAN MOBILE WERKS POLICE VEHICLE MAINTENANCE & REPAIRS 1,596.68 ENGEO INC SCHAEFER RANCH GHAD-CONSULTING STAFF SERVICE AUG 2024 3,976.00 ENTERPRISE RENT A CAR EAN SERVICES, LLC RENTAL CARS FOR DPS SIU 2,382.36 GOLDEN STATE FLEET SVCS INC DPS TOWING SERVICE 250.00
GOODFELLOW SEQUOIA AJV IRON HORSE TRAIL BRIDGE AT DUBLIN BLVD PROJ JUN 2024 332,927.50 JOSHUA PHILLIPS TRAVEL REIMBURSEMENT - CCPOA 2024 1,574.97 HEALTHEQUITY, INC. HEALTHCARE (9/2024) & COMMUTER (10/2024) BENEFIT 617.00 JOHNSON CONTROLS SECURITY SOLUTIONS, LLC. ALARM SERVICES CIVIC - ANNUAL SERVICE 2024-2025 745.38 GRAINGER EXTENSION CORDS FOR IT EQUIPMENT DURING CONSTRUCTION 430.24 GROUP 4 ARCHITECTURE, RESEARCH + PLANNING, INC. WORKSPACE PLANNING STUDY - AUG 2024 7,081.60 DSRSD BILLING PERIOD: 8/1/24 - 9/30/24 521,946.55
ENGEO INC FALLON VILLAGE GHAD-CONSULTING STAFF SERVICES JUL 2024 4,306.45 ENGEO INC SCHAEFER RANCH GHAD-CONSULTING STAFF SERVICES JUL 2024 5,918.30 ENGEO INC FALLON CROSSING GHAD-CONSULTING STAFF SERVICE JUL 2024 2,470.25 ENGEO INC FALLON VILLAGE GHAD-CONSULTING STAFF SERVICE AUG 2024 12,501.60 EMC CORPORATION DELL IDPA BACKUP SYSTEM SUPPORT 2024-2025 15,493.60 ENGEO INC FALLON CROSSING GHAD-CONSULTING STAFF SERVICE AUG 2024 3,874.84 DEPARTMENT OF JUSTICE ACCTNG OFFICE-CASHIERING UNI LIVESCAN FEES - AUG 2024 514.00 DREAM RIDE ELEVATOR ELEVATOR MAINTENANCE SEP 2024 516.00 CSW/STUBER-STROEH ENGINEERING GROUP, INC. GREEN STORMWATER INFRASTRUCTURE ENG SVCS JUL 2024 3,598.75 CSW/STUBER-STROEH ENGINEERING GROUP, INC. GREEN STORMWATER INFRASTRUCTURE ENG SVCS AUG 2024 3,197.38 CONSOR NORTH AMERICA, INC. KOOPMAN CANYON CREEK CHANNEL & BANK REPAIR AUG 2024 25,958.50 CONVERGEONE, INC. RENEWAL CISCO SMARTNET 2024-2025 21,442.91 C. OVERAA & CO. CONTRACT RETENTION RELEASE - CIVIC CENTER 2ND FL RENOVATION 16,574.58 CA MUNICIPAL STATISTICS, INC. DEBT TABLE FOR ACFR FY23-24 550.00 BKF ENGINEERS TASSAJARA RD GAP CLOSURE PROJECT SEP 2024 3,097.50 BLAISDELL'S BUSINESS PRODUCTS OFFICE SUPPLIES 1,807.70
CONSOLIDATED ENGINEERING TO1 CAC SPECIAL INSPECTION & TESTING AUG 2024 3,477.60 CONSOLIDATED ENGINEERING TO1 CAC SPECIAL INSPECTION & TESTING SEP 2024 3,086.72 CHANDLER ASSET MANAGEMENT INVESTMENT CONSULTING SERVICES SEP 2024 14,463.49 CONSILIANT TECHNOLOGIES LLC SOFTWARE SUPPORT FOR SITCAMS 67,591.52 CATALINA MEDELES-GUEVARA TRAVEL REIMBURSEMENT - CCPOA 2024 223.50 CDW GOVERNMENT INC LIBRARY COMMUNITY ROOM NEC LCD PROJECTOR 5,607.50 BALLET FOLKLORICO COSTA DE ORO SPLATTER PERFORMANCE 600.00 BIG O'TIRES #7 POLICE VEHICLE MAINTENANCE & REPAIRS 291.34 APEX GRADING FALLON VILLAGE GHAD - MAINTENANCE SERVICES JUL 2024 4,504.50 APEX GRADING SCHAEFER RANCH GHAD - MAINTENANCE SERVICES JUL 2024 17,000.00 ADVANCED INTEGRATED PEST MANAGEMENT PEST MANAGEMENT SEP 2024 6,878.80 ALAMEDA COUNTY FIRE DEPARTMENT FIRE SERVICES FY24-25 OCT 2024 1,483,859.50 UNUM LIFE INS CO OF AMERICA LIFE AND AD&D PREMIUM - SEP 2024 12,526.79 Payments Issued 10/1/2024 Total: 12,526.79
City of Dublin
Payment Issuance Report
Print Date: 11/4/2024
Payments Dated 10/1/2024 through 10/31/2024

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Payee Description Amount
4LEAF INC. IRON HORSE NATURE PARK STRUCTURAL REVIEW FEB 2024 2,640.00 VISION SERVICE PLAN - (CA) VISION INSURANCE PREMIUM - SEP 2024 2,150.94 Payments Issued 10/4/2024 Total: 15,741.88
DELTA DENTAL OF CALIFORNIA DELTA DENTAL PREMIUM - SEP 2024 13,590.94 Attachment 1
209
City of Dublin
Payment Issuance Report
Print Date: 11/4/2024
Payments Dated 10/1/2024 through 10/31/2024

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10/7/2024
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EXPENSE REIMBURSEMENT 2,300.00
LANLOGIC INC. NETWORK ENGINEERING SUPPORT 804.00
EVERYTHING GROWS INTERIOR LANDSCAPING INTERIOR PLANT CARE & MAINT. - OCT 2024 243.07 FIELDMAN, ROLAPP & ASSOCIATES DUBLIN CENTRE CFD FORMATION SEP 2024 7,212.00 EUROPEAN MOBILE WERKS POLICE VEHICLE MAINTENANCE & REPAIRS 1,616.41 GREEN VINE LANDSCAPING INC BUSINESS LICENSE REFUND 110.00 JIE LIU BUSINESS LICENSE REFUND 110.00
LIVERMORE-PLEASANTON UMPIRES ASSOCIATION SPORTS OFFICIATING SERVICES - SEPT 24 2,610.00 LYNX TECHNOLOGIES, INC. GIS CONSULTING SERVICES - SEP 2024 9,300.00 LANLOGIC INC. WIRING - CIVIC CENTER & CORP YARD 6,363.91

LAURIE RITH-CHAN
LANLOGIC INC. VERKADA SECURITY CAMERAS -SHANNON CTR 11,293.53 ISRA SAMIE MILEAGE REIMBURSEMENT 13.94
KIMLEY-HORN AND ASSOC. INC. TO7 - DESIGN SVCS GOLDEN GATE DR IMPRVMNT AUG 2024 2,575.50 HAZEL WETHERFORD CONFERENCE REIMBURSEMENT - ICMA 23.46
IRON MOUNTAIN POLICE RECORDS STORAGE - SEPT 24 372.67
GTL LEASING, LLC HYDROGEN FUEL CELL LEASE & REFUELLING SERV AUG 2024 715.00 HARRELL HARRIS PHOTOGRAPHY PHOTOGRAPHY SERVICES - SPLATTER 2,550.00 CHRISTINE PETIT REC CLASS INSTRUCTOR 1,238.40
CORWOOD CAR WASH, INC. CAR WASHES FOR POLICE VEHICLES AUG-SEPT 2024 1,989.00 DC ELECTRIC GROUP INC. TRAFFIC OPERATION CENTER FIBER RELO & DUBLIN BLVD FIBER BREAK AUG 2024 1,497.84 ELEGANT OCCASIONS SERVICES EMPLOYEE RECOGNITION EVENT DEPOST 12-10-2024 2,308.13 DUBLIN UNIFIED SCHOOL DISTRICT STAGER UTILITY BILL - JULY-AUG 2024 405.15 EAST BAY POOL SERVICE, INC. POOL MAINTENANCE 12,127.00
DESILVA GATES CONSTRUCTION LP DEVELOPER DEPOSIT (DV0290) REFUND 59.54 DIABLO CRIME SCENE CLEANERS, INC CRIME SCENE CLEANING 2,589.00 CWS CONSTRUCTION GROUP INC BUSINESS LICENSE REFUND 110.00 CHRISTAIN KNIGHT IT EXPENSE REIMBURSEMENT 217.59
CATALINA MEDELES-GUEVARA CONFERENCE REIMBURSEMENT 201.77 CALLANDER ASSOCIATES INC. WALLIS RANCH PARK DESIGN SERVICES MAY 2024 2,886.08 CARBONIC SERVICE POOL CHEMICAL FOR PH BALANCE 627.22
CHRISTAIN KNIGHT TRAVEL REIMBURSEMENT 207.12
BRINKS, INC. ARMORED CAR SERVICE - OCT 2024 338.01
CAROLYN ADAMS BUSINESS LICENSE REFUND 33.00
BIG O'TIRES #7 POLICE VEHICLE MAINTENANCE & REPAIRS 372.37 ANGELA WANG UTILITY BOX ART 1,000.00
BADAWI & ASSOCIATES FINANCIAL AUDIT SERVICES FOR FY24-25 23,134.50 CALLANDER ASSOCIATES INC. WALLIS RANCH PARK DESIGN SERVICES JUN 2024 3,812.86 CALLANDER ASSOCIATES INC. WALLIS RANCH PARK DESIGN SERVICES JUL 2024 8,878.39 BSK ASSOCIATES INC. WALLIS RNCH GEOTECH SRVS FOR SOIL CLASSIF MAY 2024 4,345.25 CALEHS ATTN: JOE MOULTON INSPECTION CIVIC CENTER GENERATOR AUG-SEP 2024 600.00 BSK ASSOCIATES INC. WALLIS RNCH GEOTECH SRVS FOR SOIL CLASSIF JUL 2024 2,240.75 BSK ASSOCIATES INC. WALLIS RNCH GEOTECH SRVS FOR SOIL CLASSIF AUG 2024 1,596.75 BABA LANDSCAPING BUSINESS LICENSE REFUND 110.00
AKSHAY ARORA ARORA TENNIS & FITNESS ACADEMY REC CLASS INSTRUCTOR 3,108.00 ADITYA T. BABU CLUB V.I.P. VOLLEYBALL REC CLASS INSTRUCTOR 3,081.00 ALAMEDA CO SHERIFF'S OFFICE CASE #L23-05152, LEVY FILE #24-5745 699.44 AMY'S ENGRAVED SIGNS & AWARDS NAME PLATES & BADGE 183.29 ANDREW LOTT UTILITY BOX ART 1,000.00
AMADOR VALLEY INDUSTRIES LLC TRASH SERVICES - CAMP PARKS SEP 2024 34,703.52 AMY L. JONES REC CLASS INSTRUCTOR 432.00
ALL CITY MANAGEMENT SVCS INC CROSSING GUARD SERVICES SEP 2024 22,191.76 ALLISON KELLY PASCHAL-HUNTER HERITAGE AND CULTURAL ARTS COMMISSION 10/10/24 50.00 A4 PROMOTIONS & INCENTIVES BUSINESS CARDS 108.10
ACTIONABLE SCIENCE INC REZOLVE.AI SOFTWARE RENEWAL 6,000.00 A4 PROMOTIONS & INCENTIVES PRINTING SERVICES - SIGNS FOR HARVEST FAIR 362.90 A4 PROMOTIONS & INCENTIVES PRINTING SERVICES - BASKETBALL & GARAGE SALE SIGNS 580.90 4LEAF INC. BUILDING INSPECTION & PLAN REVIEW SEP 2024 56,437.50 US BANK - PARS PARS: PE 10/4/24 3,690.80
Payments Issued 10/11/2024 Total: 171,381.53
ICMA 401 PLAN DEFERRED COMP 401A: PE 10/4/24 1,276.83
ICMA 457 PLAN DEFERRED COMP 457: PE 10/4/24 35,648.49
EMPLOYMENT DEVELOPMENT DEPT CA STATE WITHHOLDING: PE 10/4/24 27,929.38 HEALTHEQUITY, INC. HEALTHEQUITY: PE 10/4/24 3,393.95
CAL PERS PERS RETIREMENT PLAN: PE 10/4/24 99,442.08
INTERNAL REVENUE SERVICE FEDERAL WITHHOLDING: PE 10/4/24 93,809.52 Payments Issued 10/10/2024 Total: 93,809.52
Payments Issued 10/8/2024 Total: 182,116.13
CAL PERS HEALTH PREMIUM HEALTH INSURANCE PREMIUM - OCT 2024 182,116.13 ZOOMGRANTS ANNUAL SUBSCRIPTION 8,500.00
Payments Issued 10/7/2024 Total: 4,247,085.62
WORKFORCE INTEGRITY & TRAINING SOLUTIONS, LLC TO4 - CWA COMPLIANCE FOR DUBLIN ART CENTER JUL 2024 4,069.42 WORKFORCE INTEGRITY & TRAINING SOLUTIONS, LLC TO4 - CWA COMPLIANCE FOR DUBLIN ART CENTER SEP 2024 1,864.59 TRI-VALLEY JANITORIAL INC. JANITORIAL SERVICES WAVE WEEKEND JULY-SEP 2024 5,270.00 TRI-VALLEY JANITORIAL INC. JANITORIAL SERVICES EXTRA SERV AUG 2024 8,557.64 TRI-VALLEY JANITORIAL INC. JANITORIAL SUPPLIES AUG 2024 5,821.72 TRI-VALLEY JANITORIAL INC. JANITORIAL SERVICES SPLATTER EVENT SEP 2024 2,054.04 TOWNSEND PUBLIC AFFAIRS, INC GRANT STRATEGY AND WRITING SERVICES - OCT 24 5,000.00 TREASURER ALAMEDA COUNTY GENERAL SERVICES AGENCY FUEL AUG 2024 25,504.45 SWINERTON MANAGEMENT AND CONSULTING PLAN/CONSTR REVIEW CULTURAL ARTS CENTER AUG 2024 41,181.00
THE WELLNEST COMPANY PERMIT REFUND #BLDG-004424-2024; ADU FEES WAIVED 1,426.00 210
City of Dublin
Payment Issuance Report
Print Date: 11/4/2024
Payments Dated 10/1/2024 through 10/31/2024

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AT&T - CALNET 3 ASE CIRCUITS TO 09/30/2024 2,337.42
BAY ALARM COMPANY ALARM SERVICES SHANNON CENTER SERVICE CALL OCT 2024 720.00 AT&T CVC AT&T IPFLEX VOIP LINE 630.12
AT&T 600M INTERNET CIVIC CENTER FIBER SERVICES 1,811.46 TO6 - 2024 ANNUAL STREET RESURFACING AUG 2024 357.41
WORKFORCE INTEGRITY & TRAINING SOLUTIONS, LLC WALLIS RANCH PARK MAY 2024 ANNE GIANCOLA UTILITY BOX ART 1,000.00
ARENA STUART RENTALS SPLATTER EQUIPMENT RENTAL 9,062.39 ALMETEK INDUSTRIES INC STORM DRAIN MEDALLIONS - BLUE W/ RIVETS AUG 2024 244.25 AMY'S ENGRAVED SIGNS & AWARDS NAME PLATES - COMMISSION MEETINGS 109.15 A4 PROMOTIONS & INCENTIVES FLICKR POSTCARDS 86.31
ADVANCED MOBILITY GROUP ANNUAL TRAFFIC SIGNAL SYSTEM SUPPORT AUG 2024 6,265.00 4LEAF INC. IRON HORSE NATURE PARK STRUCTURAL REVIEW AUG 2024 400.00 A4 PROMOTIONS & INCENTIVES BUSINESS CARDS 130.82
4LEAF INC. DEVELOPMENT AND PERMITS PLAN REVIEW JUL 2024 1,105.00 4LEAF INC. DEVELOPMENT AND PERMITS PLAN REVIEW AUG 2024 1,190.00 4LEAF INC. DEVELOPMENT AND PERMITS PLAN REVIEW FEB 2024 1,520.00 1,311.24
WORKFORCE INTEGRITY & TRAINING SOLUTIONS, LLC WALLIS RANCH PARK JUL 2024 2,931.23 HEALTHEQUITY, INC. 2024 COMMUTER FUNDING 1,805.80
Payments Issued 10/17/2024 Total: 1,805.80
Payments Issued 10/15/2024 Total: 900,190.75
UNIVERSAL BUILDING SERVICES & SUPPLY CO. WINDOW & CARPET CLEANING CIVIC 2024 635.17 UNIVERSAL BUILDING SERVICES & SUPPLY CO. WINDOW & CARPET CLEANING LIBRARY 2024 2,749.42 WEE HOOP, INC. REC CLASS INSTRUCTOR 1,821.60
VERIZON WIRELESS DATA PLAN FOR LICENSE PLATE READERS - SEPT 24 2,519.38 WORKFORCE INTEGRITY & TRAINING SOLUTIONS, LLC WALLIS RANCH PARK AUG 2024 1,605.32

WORKFORCE INTEGRITY & TRAINING SOLUTIONS, LLC
TRI-VALLEY COMMUNITY TV RECORD/TELEVISE CITY COUNCIL & PLANNING COMM MTGS - SEPT 24 1,290.13 TRIVALLEY INTERNET INC SMALL BUSINESS NAVIGATOR CONSULTANT 3,600.00 TREASURER ALAMEDA COUNTY ANIMAL CONTROL FY23/24 FIELD AND SHELTER SERVICES Q4 69,777.90 VERONICA FAVELA CONFERENCE REIMBURSEMENT 287.77
UNIVERSAL BUILDING SERVICES & SUPPLY CO. WINDOW & CARPET CLEANING SENIOR 2024 741.78 UNIVERSAL BUILDING SERVICES & SUPPLY CO. WINDOW & CARPET CLEANING SHANNON OCT 2024 1,281.58 THE INDEPENDENT SPLATTER NEWSPAPER ADVERTISING 1,350.00 TIMEA IHAROSI HERITAGE AND CULTURAL ARTS COMMISSION 10/10/24 50.00 SHWETA AGRAWAL HERITAGE AND CULTURAL ARTS COMMISSION 10/10/24 50.00 SPECIAL EVENTS PCS EVENTS FY24-25 TENTING RENTALS -SPLATTER 19,551.57 SHAMROCK OFFICE SOLUTIONS, LLC FILE 2399 SHAMROCK - SERVICE AGREEMENT 24/25 10/1-10/31/24 2,832.74 SHAMROCK OFFICE SOLUTIONS, LLC FILE 2399 PRINTER CARTRIDGES 15.00 SCP DISTRIBUTORS LLC WATERPARK SUPPLIES 2,212.06
SELECT IMAGING INSIDE DUBLIN COMMUNITY PROMOTION SCARVES 490.50 ROTH STAFFING COMPANIES, L.P. BUSINESS LICENSE TEMP 09/23/24-09/29/24 1,382.40 RURAL PIG MANAGEMENT, INC. FERAL PIG TRAPPING AUG 2024 10,000.00 REGENCY VILLAGE AT DUBLIN, LLC SALES TAX REIMBURSEMENT PROGRAM YR 8 350,000.00 RCLCO REAL ESTATE CONSULTING - MARKET PRICING AND ABSORPTION ANALYSIS 12,906.78 REDWOOD PUBLIC LAW, LLP FOR PROFESSIONAL SERVICES RENDERED THROUGH SEP 2024 92,200.26 RAYNE OF SAN JOSE REVERSE OSMOSIS WATER SOFTENER SERV FS17 OCT 2024 259.60 RAYNE OF SAN JOSE REVERSE OSMOSIS WATER SOFTENER SERV FS18 OCT 2024 204.30 QUADIENT FINANCE USA, INC. POSTAGE FEES FOR SEP 2024 332.35 QUADIENT, INC. DEPT 3689 POSTAGE MACHINE RENTAL 99.06
PRUDENTIAL OVERALL SUPPLY MAT SERVICES SHANNON OCT 2024 75.50 PRUDENTIAL OVERALL SUPPLY MAT SERVICES CORP YARD OCT 2024 51.20 PLEASANTON VIP SENIOR CLUB SENIOR CENTER - PETER PAN PERFORMANCE AND DINNER 165.00 PLEASANTON VIP SENIOR CLUB WICKED SENIOR TRIP 205.00
PLEASANTON EVENT RENTALS INC COMMUNITY GARAGE SALE SUPPLIES 859.79 PLEASANTON EVENT RENTALS INC CLEANING OF RENTED LINENS 45.00 PG&E 6196 HORIZON PKWY M DONBIDDLE 09/15/2024 1,260.13
PG&E B1 SERVICE TO VARIOUS 1997-1 09/13/2024 113.08
PG&E B1 IRRIG 2979 THREE CASTLES 09/13/2024 49.88
PG&E 6020 DUBLIN BLVD 1010865440 09/12/2024 8.55
PG&E SERVICE TO PSC 09/12/2024 5,051.34
PG&E A6 SERVICE TO FS18 09/10/2024 104.22
PG&E LS2-A SERVICE TO CENTRAL 09/13/2024 4.47
PG&E SERVICE TO SR CTR 09/10/2024 594.70
PG&E B10S SERVICE TO EGP 09/08/2024 7,493.00

MOWGLISPUPBAKERY BUSINESS LICENSE REFUND
PG&E B1 SERVICE TO VARIOUS 1997-1 08/14/2024 110.40
PG&E LS2-A SERVICE TO ARN & MART 09/13/2024 95.25
PG&E SERVICE TO PSC 09/12/2024 1,993.94
PG&E SERVICE TO VARIOUS TC 08/12/2024 10,307.50
PG&E SERVICE TO 3142 CENTRAL PKWY 09/10/2024 231.96
PG&E SERVICE TO VARIOUS IRRIG 09/10/2024 119.95

MMANC MEMBERSHIP RENEWAL

95.00 PG&E B1 SERVICE TO DEVANY 09/10/2024 20.23
PG&E SERVICE TO VARIOUS IRRIG 09/05/2024 2,037.89
PG&E VAR PARK IRRIGATION 09/05/2024 87.81
PG&E B6 SERVICE TO BRAY CMMN 09/10/2024 119.66
NOVANI, LLC. TO1 - TRAFFIC OPERATING CENTER MAINTENANCE OCT 2024 3,000.00 NAGHMEH DANISHMAND UTILITY BOX ART 1,000.00
NAMRATA BERRY REC CLASS INSTRUCTOR 324.00
PG&E B6 SERVICE TO FSP 09/04/2024 8,461.20
110.00
PG&E LS2-A EAST DUBLIN0 9/13/2024 19,870.93
MORGAN SASSER PETTING ZOO FOR HARVEST FESTIVAL 1,200.00 211
City of Dublin
Payment Issuance Report
Print Date: 11/4/2024
Payments Dated 10/1/2024 through 10/31/2024

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10/22/2024 WILLDAN ENERGY SOLUTIONS BLDG ELECTRIFICATION & CODE ASSISTANCE JUL 2024 12,096.50 WC3-WEST COAST CODE CONSULTANT PLAN CHECK AND EPROCESS360 FOR SEP 2024 21,428.00 WILLDAN ENERGY SOLUTIONS BLDG ELECTRIFICATION & CODE ASSISTANCE JUN 2024 5,688.50 UNIVERSAL BUILDING SERVICES & SUPPLY CO. WINDOW & CARPET CLEANING HERITAGE SEP 2024 955.84 UNIVERSAL BUILDING SERVICES & SUPPLY CO. WINDOW & CARPET CLEANING WAVE SEP 2024 1,796.32 UNIVERSAL BUILDING SERVICES & SUPPLY CO. WINDOW & CARPET CLEANING LIBRARY SEP 2024 785.89 UNIVERSAL BUILDING SERVICES & SUPPLY CO. WINDOW & CARPET CLEANING SHANNON SEP 2024 561.35 UNIVERSAL BUILDING SERVICES & SUPPLY CO. WINDOW & CARPET CLEANING WAVE SEP 2024 758.62 UNIVERSAL BUILDING SERVICES & SUPPLY CO. WINDOW & CARPET CLEANING CIVIC SEP 2024 224.54 UNITED SITE SERVICES OF CA INC SEPTIC TANK SERVICES NOV 2024 726.38 UNIVERSAL BUILDING SERVICES & SUPPLY CO. WINDOW & CARPET CLEANING PSC SEP 2024 2,030.13 TRI-VALLEY TRANSPORT. COUNCIL FY 24/25 QTR 1 TVTD FEES 104,946.72 U.S. BANK CORPORATE PMT SYSTEM PURCHASE CARD STATEMENT SEP 2024 56,832.20 TRIVALLEY INTERNET INC NAVIGATOR PROGRAM - KENSINGTON LABS #35 7,500.00 TRI-VALLEY JANITORIAL INC. JANITORIAL SERVICES EXTRA SEP 2024 8,052.18 T-MOBILE USA, INC. PIO & PW CELL PHONE SERVICES THROUGH 09/20/2024 455.06 TRB AND ASSOCIATES, INC. PLAN REVIEW & INSPECTION SERVICES SEP 2024 25,690.50 STRATEGIC ECONOMICS INC. CONSULTANT FOR UPDATE OF ED STRATEGY & GP ELEMENT - SEPT 24 7,831.87 T-MOBILE USA, INC. CELL PHONE SERVICES THROUGH 09/20/2024 636.44 SIERRA DISPLAY, INC. CITYWIDE/MILITARY BANNER PROGRAM 2,652.00 STORMWATER INSPECTION & MAINTENANCE SERVICES, INC TRASH CAPTURE DEVICE MAINTENANCE SERVICES AUG 2024 14,395.00 SELECT IMAGING HYDRATION STATION DECALS SEP 2024 165.38 SELECT IMAGING PRINTING & MAILING OF BUSINESS LICENSE RENEWALS 7,975.04 SELECT IMAGING NAME PLATES & BADGE - CMO 135.44
SELECT IMAGING CAR MAGNETS FOR MAYOR MCCORRISTON 90.74
QUETEL CORPORATION ANNUAL EVIDENCE SOFTWARE SUBSCRIPTION 4,217.19 PRUDENTIAL OVERALL SUPPLY MAT SERVICES CIVIC OCT 2024 92.38 PRUDENTIAL OVERALL SUPPLY MAT SERVICES WAVE OCT 2024 80.90 PRUDENTIAL OVERALL SUPPLY MAT SERVICES SHANNON OCT 2024 75.50 PLAN JPA GENERAL LIABILITY CLAIMS - SEP 2024 CLAIMS 25.73 PRUDENTIAL OVERALL SUPPLY MAT SERVICES PSC OCT 2024 51.87 ROTH STAFFING COMPANIES, L.P. BUSINESS LICENSE TEMP 09/30/24-10/06/24 1,728.00 REVEAL DATA CORP PUBLIC RECORDS REQUEST- SAAS - STORAGE 13,960.00 ROBERT HALF FINANCE DEPARTMENT TEMP 10/4/24-10/11/24 5,578.65 RACE TO ZERO WASTE WASTE SORTING AT EVENTS SEP 2024 6,179.25 REDWOOD TOXICOLOGY LAB. INC. TOXICOLOGY SERVICES 395.07 PAKPOUR CONSULTING GROUP, INC. TO7 - CM/INSP. SVCS. SAFE ROUTES TO SCHOOL SEP 2024 6,833.75 MINUTEMAN PRESS RETIREMENT POSTER 79.38
MICHAEL BAKER INT'L, INC. AFFORDABLE HOUSING PROGRAM MONITORING ASSISTANCE - SEPT 24 495.00 MINUTEMAN PRESS 2024 ELECTION VOTER POSTCARDS 9,240.82

50.00 LEHR AUTO POLICE VEHICLE MAINTENANCE & REPAIRS 300.67 MACLEOD WATTS INC. FY24-25 RETIREE HEALTH ACTUARIAL STUDY 11,650.00 ON THE VINE CATERING SPLATTER CATERING 11,594.88
LEHR AUTO DPS EMERGENCY EQUIPMENT FOR D45 8,411.76
LANLOGIC INC. GIS ARCHITECTURE REVIEW 50.25
HARRELL HARRIS PHOTOGRAPHY PHOTOGRAPHY SERVICES- SENIOR INFO FAIR 600.00 HERC RENTALS INC. ELECTRICAL RENTALS FOR SPLATTER 8,498.69 LANLOGIC INC. NETWORK ENGINEERING SUPPORT 3,517.50
GINA MARIE GARCIA-GABRIELL HERITAGE AND CULTURAL ARTS COMMISSION 10/10/24 50.00 GOODFELLOW SEQUOIA AJV IRON HORSE TRAIL BRIDGE AT DUBLIN BLVD PROJ JUL 2024 330,427.48 LANGUAGE LINE SERVICES LANGUAGE LINE SERVICES FOR SEP 2024 279.67 FIELDMAN, ROLAPP & ASSOCIATES DOWNTOWN FINANCING PLAN - AUG 24 2,296.50 GEOCON CONSULTANTS, INC. TO4 - VILLAGE PKWY- ADDT'L GEOTECH SVCS & BORINGS SEP 2024 170.00 JULIA H. TOMTANIA HERITAGE AND CULTURAL ARTS COMMISSION 10/10/24 50.00 KATHY L. BELTRAN APPRAISAL FEE REIMBURSEMENT 6060 TASSAJARA RD 800.00 IOPREDICT, INC. OFFICE ASSISTANT (PCS) WRITTEN EXAM 630.00 JIEXING MARGARET LIANG HERITAGE AND CULTURAL ARTS COMMISSION 10/10/24 INTERACTIVE DATA, LLC DPS - SOCIAL MEDIA SEARCH OCT 24 300.50 EOA, INC. STORMWATER PLAN REVIEW JUL 2024 675.00
EUROPEAN MOBILE WERKS POLICE VEHICLE MAINTENANCE & REPAIRS 1,031.25 DUBLIN CHEVROLET POLICE VEHICLE MAINTENANCE & REPAIRS 1,269.84 DUBLIN UNIFIED SCHOOL DISTRICT STAGER UTILITY BILL 8/1/24 - 9/30/24 19.56 DUBLIN ARTS COLLECTIVE DISCRETIONARY GRANT - BLOCK GRANT 500.00 DUBLIN CHAMBER OF COMMERCE ANNUAL MEMBERSHIP DUES 1,390.00 DEVELOPMENT SOLUTIONS WR, LLC DEVELOPER DEPOSIT (DV0179) REFUND 8,222.86 DONOVAN FRAZER CONFERENCE REIMBURSEMENT- CCPOA 2024 178.20 DARREN PHILLIPS HERITAGE AND CULTURAL ARTS COMMISSION 10/10/24 50.00 DAVID L. GATES & ASSOCIATES, INC. TO9 - CITY-WIDE PLAYGROUND INSPECTIONS OCT 2024 28,350.00 CORODATA SHREDDING, INC. SHRED BIN PICKUP SEP 2024 43.29 DANIELLE MASKIELL UTILITY BOX ART 1,000.00
CONVERGEONE, INC. C1-ANNUAL CISCO MANAGED SERVICES AGREEMENT 2024-2025 18,726.00 CONVERGEONE, INC. E911 - PROFESSIONAL SERVICES GENERAL 10,353.50 CIVICA LAW GROUP APC SPECIAL COUNSEL LEGAL SERVICE - REF. 2061 COLLIER CANYON 20,281.96 COMCAST COUNCIL AV RM BUSINESS CABLE 9/18-10/17/2024 99.17 CITY OF PLEASANTON FREEWAY INTERCHANGE DEBT PYMT JUL-SEP 2024 5,003.42 CIVICA LAW GROUP APC SPECIAL COUNSEL LEGAL SERVICE - REF. 7461 BROOKDALE 8,722.49 CITIZEN COMMUNICATIONS, LLC RECYCLIST SB 1383 PROGRAM TRACKER 24-25 24,909.96 CITY OF FREMONT ALAMEDA COUNTYWIDE CLEAN WATER PROGRAM 2024-2025 86,697.00 BOUND TREE MEDICAL, LLC. EVIDENCE SUPPLIES-GLOVES 383.02 CDW GOVERNMENT INC MICROSOFT EXCHANGE SUBSCRIPTION 484.40 BKF ENGINEERS TO1 -SAN RAMON/AVB INTERSECTION IMPROVNTS SEP 2024 7,135.65 BMI MUSIC LICENSE FOR 2024 435.00
BAY ALARM COMPANY ALARM SERVICES HERITAGE SERVICE CALL OCT 2024

9.04 BAY AREA NEWS GROUP EAST BAY LEGAL NOTICES - SEP 2024 854.57 212
City of Dublin
Payment Issuance Report
Print Date: 11/4/2024
Payments Dated 10/1/2024 through 10/31/2024

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GOODWIN CONSULTING GROUP, INC. DUBLIN CENTRE CFD FORMATION SEP 2024 1,420.00 GUIDA DEVELOPMENT MAP REVIEW SEP 2024 2,230.00
EOA, INC. STORMWATER PLAN REVIEW MAY 2024 2,025.00
FIELDMAN, ROLAPP & ASSOCIATES DUBLIN CENTRE CFD FORMATION AUG 2024 1,999.50 EOA, INC. STORMWATER PLAN REVIEW APR 2024 5,400.00
DUTCHOVER & ASSOCIATES DEVELOPMENT AND PERMITS PLAN REVIEW AUG 2024 747.50 EAST BAY POOL SERVICE, INC. POOL MAINTENANCE - FILTER REPAIR 1,822.77 DANIEL S COLLEY PCS COMMISSION 10/21/24 50.00
DAVID HUFFMAN ASSET SEIZURE REIMBURSEMENT - CASE: 23-704569 32,752.50 COUNTY OF ALAMEDA CHARGEPOINT REG CERT. 2024 - SHANNON ACCT#4027-006 148.20 COUNTY OF ALAMEDA CHARGEPOINT REG CERT. 2024 -HERITAGE ACCT#4027-001 176.40 COUNTY OF ALAMEDA CHRGEPT REG CERT. 2024-FALLON SPORT ACCT#4027-004 176.40 COUNTY OF ALAMEDA CHARGEPOINT REG CERT. 2024 - LIBRARY ACCT#4027-005 204.60 COUNTY OF ALAMEDA CHARGEPOINT REG CERT. 2024-THE WAVE ACCT# 4027-003 261.00 COUNTY OF ALAMEDA CHARGEPOINT REG CERT. 2024 - PSC ACCT #4027-002 317.40 COULSON & ASSOCIATES DEVELOPMENT AND PERMITS PLAN REVIEW JUN 2024 6,727.50 COULSON & ASSOCIATES DEVELOPMENT AND PERMITS PLAN REVIEW JUL 2024 13,893.75 CONVERGEONE, INC. CIVIC VERKADA BADGE ACCESS READER 2,687.83 COULSON & ASSOCIATES DEVELOPMENT AND PERMITS PLAN REVIEW MAY 2024 6,922.50 COMCAST CIVIC CENTER COMCAST 500M INTERNET 09/31/2024 2,540.57 CONSOR NORTH AMERICA, INC. DEVELOPMENT MAP REVIEW AUG 2024 3,911.12 CODE PUBLISHING, LLC MUNI CODE UPDATES 893.00
COMCAST INTERNET/CABLE SVC WAV, SNC, PSC - 10/11-11/10/24 602.90 CARBONIC SERVICE POOL CHEMICAL FOR PH BALANCE 620.93
BEST VERSION MEDIA, LLC WAVE MARKETING 408.30
BIG O'TIRES #7 POLICE VEHICLE MAINTENANCE & REPAIRS 131.11 BAY ALARM COMPANY ALARM SERVICES SHANNON OCT 2024 142.83 BAY ALARM COMPANY ALARM SERVICES WAVE SERVICE CALL OCT 2024 261.16 CINTAS CORPORATION NO.2 FIRST AID RESTOCK 58.75
CHRISTINE PETIT REC CLASS INSTRUCTOR 432.00
CASTRO VALLEY PERFORMING ARTS REC CLASS INSTRUCTOR 312.00 BAY ALARM COMPANY ALARM SERVICES FS17 OCT 2024 142.83
BAY ALARM COMPANY ALARM SERVICES SENIOR CENTER OCT 2024 142.83 AT&T - CALNET 3 HERITAGE 9391018979 10/14/2024 30.66
AT&T - CALNET 3 SHANNON CENTER ALARM 9391063350 10/12/2024 30.65 AT&T - CALNET 3 CLARK AVE 09/27/2024 30.42
AT&T - CALNET 3 SERVICE TO HERITAGE CTR BK UP 129.76
AT&T - CALNET 3 SERVICE TO FS16 09/27/2024 59.29
AT&T - CALNET 3 SERVICE TO CIVIC 09/27/2024 30.42
AT&T - CALNET 3 SERVICE TO FS2-3 09/26/2024 348.19
AT&T - CALNET 3 SERVICE TO SHANNON FAX 09/27/2024 30.42 AT&T - CALNET 3 SERVICE TO BLDG INSP 10/14/2024 30.66
AT&T - CALNET 3 SERVICE TO ELEVATOR 10/14/2024 117.97
AT&T - CALNET 3 SERVICE TO FS18 10/14/2024 88.87
AT&T - CALNET 3 SERVICE TO CY 10/14/2024 235.66
AT&T - CALNET 3 SERVICE TO PSC FIRE ALARM 10/14/2024 59.77 AT&T - CALNET 3 SERVICE TO FSP FAX 10/14/2024 59.77
AT&T - CALNET 3 SERVICE TO CY 10/14/2024 59.77
AT&T - CALNET 3 SERVICE TO CY FAX 10/14/2024 30.66
AT&T - CALNET 3 SERVICE TO CIVIC 10/12/2024 221.47
AT&T - CALNET 3 SERVICE TO LIBRARY 911 10/14/2024 30.66 AT&T - CALNET 3 SERVICE TO SHANNON 10/12/2024 263.41
AT&T - CALNET 3 SERVICE TO SR ALARM 10/12/2024 209.25
AT&T - CALNET 3 SERVICE TO PSC 10/01/2024 117.01
AT&T - CALNET 3 SERVICE TO WAVE 10/12/2024 117.93
AT&T PSC-600M IPFLEX INTERNET 1,364.86
AT&T - CALNET 3 SERVICE TO CIVIC FIRE ALARM 10/01/2024 59.29 AT&T CVC AT&T IPFLEX VOIP LINE 630.12
AT&T 600M INTERNET CIVIC CENTER FIBER SERVICES 1,811.46 ANGEL HOUZE CLAY ART C/O JULIE P. KARTONO REC CLASS INSTRUCTOR 108.00 ASSOC. OF DEFENSE COMMUNITIES 2025 MEMBERSHIP DUES 450.00 3K INVESTMENTS INC REFUND TO INC 82 FOR PLPA-004016-2024 419.00 AKSHAY ARORA ARORA TENNIS & FITNESS ACADEMY REC CLASS INSTRUCTOR 40,734.10 ALAMEDA COUNTY ENVIRONMENTAL HEALTH ALCO HEALTH - HMBP - FS17- OCT 2024 889.00 ALAMEDA COUNTY ENVIRONMENTAL HEALTH ALCO HEALTH - HMBP - FS18- OCT 2024 889.00 ALAMEDA COUNTY ENVIRONMENTAL HEALTH ALCO HEALTH - HMBP PERMIT - CIVIC - SEP 2024 3,055.00 ALAMEDA COUNTY ENVIRONMENTAL HEALTH ALCO HEALTH - HMBP - CORP YARD - OCT 2024 1,930.00 ALAMEDA CO SHERIFF'S OFFICE CASE #L23-05152, LEVY FILE #24-5745 699.44 Payments Issued 10/25/2024 Total: 303,142.71
INTERNAL REVENUE SERVICE FEDERAL WITHHOLDING: PE 10/18/24 & OCTOBERCOUNCIL 83,413.06 US BANK - PARS PARS: PE 10/18/24 & OCTOBER COUNCIL 3,439.46 I C M A 401 PLAN DEFERRED COMP 401A: PE 10/18/24 34,297.94 I C M A 457 PLAN DEFERRED COMP 457: PE 10/18/24 & OCTOBER COUNCIL 50,066.60 EMPLOYMENT DEVELOPMENT DEPT CA STATE WITHHOLDING: PE 10/18/24 & OCTOBER COUNCIL 24,142.06 HEALTHEQUITY, INC. HEALTHEQUITY: PE 10/18/24 3,393.95
CAL PERS PERS RETIREMENT PLAN: PE 10/18/24 104,389.64
YINGRU HUANG MILEAGE REIMBURSEMENT 115.54
Payments Issued 10/22/2024 Total: 969,241.99
WORKFORCE INTEGRITY & TRAINING SOLUTIONS, LLC TO3 - IRON HORSE NATURE PARK - CWA ADMIN SEP 2024 772.01 WORKFORCE INTEGRITY & TRAINING SOLUTIONS, LLC TO8 - CWA ADMIN - GREEN STORMWATER INFRASTRUCTURE SEP 2024 426.98 WORKFORCE INTEGRITY & TRAINING SOLUTIONS, LLC TO6 - 2024 ANNUAL STREET RESURFACING - APR 2024 595.83 WORKFORCE INTEGRITY & TRAINING SOLUTIONS, LLC TO6 - 2024 ANNUAL STREET RESURFACING - JUL 2024 772.50
213
City of Dublin
Payment Issuance Report
Print Date: 11/4/2024
Payments Dated 10/1/2024 through 10/31/2024

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10/28/2024
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10/30/2024
Total Number of Payments Issued:

Grand Total for Payments Dated 10/1/2024 through 10/31/2024: 8,897,203.06 311
Payments Issued 10/30/2024 Total: 11,915.62
UNUM LIFE INS CO OF AMERICA LIFE AND AD&D PREMIUM - OCT 2024 11,915.62 Payments Issued 10/28/2024 Total: 1,988,244.72
UNIVAR SOLUTIONS SODIUM HYPOCHLORITE POOL CHEMICAL 2,703.42 WEE HOOP, INC. REC CLASS INSTRUCTOR 607.20
TRI-VALLEY JANITORIAL INC. JANITORIAL SUPPLIES SEP 2024 5,512.95 US CONF OF MAYORS US CONFERENCE OF MAYORS ANNUAL MEMBERSHIP 2025 5,970.00 TREASURER ALAMEDA COUNTY RETURN ASSET SEIZURE FUND CASE: 23-701483 4,697.65 TREASURER ALAMEDA COUNTY GENERAL SERVICES AGENCY FUEL SEP 2024 20,998.39 SYED SAMEER SHABIR HAKIM PCS COMMISSION 10/21/24 50.00
TREASURER ALAMEDA COUNTY RETURN ASSET SEIZURE CASE: 23-704569 35,286.98 ST. RAYMOND CATHOLIC CHURCH BOY SCOUT TROOP 905 ST. PAT'S 2024 EVENT BOY SCOUT TROOP #905 3,000.00 SUAREZ & MUNOZ CONSTRUCTION WALLIS RANCH COMMUNITY PARK CONSTRUCTION AGREEMENT 758,939.32 SNG & ASSOCIATES INC. DEVELOPMENT AND PERMITS PLAN REVIEW AUG 2024 10,854.00 SNG & ASSOCIATES INC. DEVELOPMENT AND PERMITS PLAN REVIEW JUL 2024 19,123.00 SHAMROCK OFFICE SOLUTIONS, LLC FILE 2399 CONTRACT USAGE CHARGE 09/22-10/21/24 551.83 SHAMROCK OFFICE SOLUTIONS, LLC FILE 2399 CONTRACT USAGE CHARGE 10/16-11/15/24 850.35 SELECT IMAGING NAME PLATES & BADGE 162.99
SHAMROCK OFFICE SOLUTIONS, LLC FILE 2399 EQUIPMENT LEASE PAYMENT 9/30-10/30/24 1,510.70 RRM DESIGN GROUP, A CA CORP DEVELOPMENT AND PERMITS PLAN REVIEW AUG 2024 8,602.25 RSCDS - SAN FRANCISCO BRANCH SCOTTISH DANCERS SPLATTER PERFORMANCE 1,000.00 RICHARD THORNBURY PCS COMMISSION 10/21/24 50.00
ROTH STAFFING COMPANIES, L.P. BUSINESS LICENSE TEMP 10/7/24-10/13/24 1,641.60 R & B EQUIPMENT INC BUSINESS LICENSE REFUND 45.00
RACHEAL MATHENY PCS COMMISSION 10/21/24 50.00
PRUDENTIAL OVERALL SUPPLY MAT SERVICES CORP YARD OCT 2024 51.20 QUADIENT FINANCE USA, INC. POSTAGE FEES FOR SEP 2024 299.00 PG&E SERVICE TO HPM 09/27/2024 649.86
PRUDENTIAL OVERALL SUPPLY MAT SERVICES SENIOR OCT 2024 79.80 PG&E SERVICE TO FS16 09/10/2024 821.88
PG&E B6 SERVICE TO LIBRARY 09/29/2024 3,027.85
PG&E SERVICE TO WAVE 10/03/2024 31,078.85
PG&E SERVICE TO HCP 09/26/2024 2,747.56
PG&E TC1 SERVICE TO 6795 DOUGHERTY 10/01/2024 253.36
PG&E LS2-A SERVICE TO AVB 09/30/2024 1,719.17
PG&E A6 SERVICE TO FS17 10/03/2024 133.95
PG&E TC1 SERVICE TO FALLON 09/09/2024 1,111.90
PG&E B1 ART LIGHT 7401 DUBLIN BLVD 09/30/2024 267.13
PG&E SERVICE TO VARIOUS IRRIG 09/26/2024 56.58
PG&E B1 SERVICE TO SEAN DIAMOND 09/25/2024 152.91
PG&E B1 SERVICE TO POSITANO IRRIG 09/29/2024 95.97
PG&E SERVICE TO SCH RNCH PARK 09/26/2024 431.81
PG&E B1 SERVICE TO PASSATEMPO 09/23/2024 86.57
PG&E SERVICE TO CORP YARD 09/29/2024 2,044.26
PG&E SERVICE TO SHANNON CENTER 09/27/2024 82.49
PG&E SERVICE TO FALLON IRRIG 10/08/2024 40.41
PG&E B10S SERVICE TO CIVIC CENTER 09/12/2024 4,579.82
PG&E SERVICE TO FALLON IRRIG 09/09/2024 101.93
PG&E IRRIGATION SERVICE TO 09/30/2024 47.96
PG&E SERVICE TO SHANNAN CENTER 09/26/2024 24.65
PG&E SERVICE TO GLEASON IRRIG 09/28/2024 1,380.19
MATTHEW T GILLER PCS COMMISSION 10/21/24 50.00
MAKE ME A PRO SPORTS REC CLASS INSTRUCTOR 3,510.00
LANLOGIC INC. ANNUAL WIFI CONTROLLER SUPPORT 1,015.88
LEHR AUTO DPS-INVESTIGATIVE DATA LICENSE SOFTWARE 13,245.00 NITHILA JEYAKIRUPA SADHEESH PCS COMMISSION 10/21/24 50.00 PAKPOUR CONSULTING GROUP, INC. DEVELOPMENT AND PERMITS PLAN REVIEW SEP 2024 30,185.00 MORGAN SASSER PETTING ZOO FOR PRESCHOOL 575.00
NITHILA JEYAKIRUPA SADHEESH PCS COMMISSION 09/16/24 50.00 MCE CORPORATION MAINTENANCE SERVICES 2024-2025 - SEP 2024 839,195.00 MINUTEMAN PRESS 2024 ELECTION VOTER POSTCARDS 4,620.41
JOSEPH THOMAS WASHINGTON II PCS COMMISSION 10/21/24 50.00 HERC RENTALS INC. ELECTRICAL RENTALS FOR SPLATTER 2,684.37 ICMA ICMA ANNUAL MEMBERSHIP RENEWAL - WETHERFORD 1,200.00 HALEY & ALDRICH, INC DEVELOPMENT AND PERMITS PLAN REVIEW SEP 2024 3,413.75 HARRELL HARRIS PHOTOGRAPHY PHOTOGRAPHY SERVICES - HARVEST FAIR 900.00 MATRIX CONSULTING GROUP, LTD SERVICES ASSESSMENT INVOICE 7,700.00 INTERACTIVE DATA, LLC MONTHLY BILL FOR PHONE SEARCHES - NOV 24 290.50 214

STAFF REPORT

CITY COUNCIL

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Agenda Item 6.1
DATE: November 19, 2024
TO: Honorable Mayor and City Councilmembers
FROM: Colleen Tribby, City Manager
SUBJECT: Dublin Centre Community Facilities District Formation Prepared by: Jay Baksa, Finance Director
EXECUTIVE SUMMARY:

The City Council will conduct a public hearing, to consider (i) forming City of Dublin Community Facilities District No. 2024-1 (Dublin Centre), (ii) authorizing a limit on bonded indebtedness for the district, (iii) calling for a special mailed ballot election, (iv) declaring election results, (v) introduce an ordinance, and conducting related proceedings for City of Dublin Community Facilities District No. 2024-1 (Dublin Centre).

STAFF RECOMMENDATION:

Staff recommends that the City Council receive and the City Clerk file with these proceedings the Community Facilities District Report and conduct a public hearing to (a) establish Community Facilities District No. 2024-1 (Dublin Centre) and (b) deem it necessary to incur indebtedness for CFD No. 2024-1. If following such public hearing, no landowner majority protest has been filed pertaining to the establishment of CFD No. 2024-1 or the levy of special taxes, Staff recommends that the City Council adopt the following:
1) A Resolution Forming the City of Dublin Community Facilities District No. 2024-1 (Dublin Centre).
2) A Resolution Determining Necessity to Incur Bonded Indebtedness for City of Dublin Community Facilities District No. 2024-1 (Dublin Centre). 3) A Resolution Calling Special Election for City of Dublin Community Facilities District No. 2024-1 (Dublin Centre).

Following the adoption of the above resolutions, staff recommends that the City Clerk announce the results of the ballots cast in the special mailed-ballot election to be held within CFD No. 2024-1 to enable the qualified election of CFD No. 2024-1 to consider the ballot measures regarding (a) authorization to levy special taxes within CFD No. 2024-1, (b) the authorization to issue bonds secured by the levy of such special taxes, and (c) establishment of an appropriation limit for CFD No. 2024-1.
215

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If the results of the special mailed-ballot election reveal that the measures have received the affirmative vote of two-thirds of the votes cast, Staff recommends that the City Council take the following actions:
1) Adopt a Resolution Declaring Results of Special Election and Directing Recording of Notice of Special Tax Lien for City of Dublin Community Facilities District No. 2024-1 (Dublin Centre).
2) Waive the reading and INTRODUCE the Ordinance Levying Special Taxes Within City of Dublin Community Facilities District No. 2024-1 (Dublin Centre).

FINANCIAL IMPACT:

Approval of the recommended actions has no financial impact on the City. All costs associated with the formation of the proposed Community Facilities District are borne entirely by the developer.

The proposed Community Facilities District will be self-sustaining, including annual compensation to the City for its management.

DESCRIPTION:

Background
The 50.04-acre Dublin Centre development project site is an undeveloped parcel located within the Eastern Dublin Specific Plan (EDSP). The site is located north of Dublin Boulevard, east of Tassajara Road and west of Brannigan Street.

The City Council approved the Development Agreement for the property on November 22, 2022.

The Development Agreement specified in Section 6.2 that the City would use its best efforts to commence proceedings to form a Community Facilities District (CFD) to finance certain public facilities and services. The Development Agreement specified that the effective tax rate shall not exceed 1.75% or the term of the bonds shall not exceed 35 years.

Based on discussions between the City, the City’s consultants, and the developer, it is recommended that the most efficient approach to fund facilities and services is to establish a single CFD, that would levy two separate special taxes, one to pay for services and one to pay for facilities. All parties agree that this is preferable to the creation of two separate CFDs, with the result being the same.

The first step in the CFD formation process took place on October 15, 2024, with the City Council’s consideration and adoption of two resolutions of intention, which set the public hearing and special landowner election for November 19, 2024. The approval of the resolutions was done so with the understanding that the cap on the effective tax rate would be 1.75% for each tax zone and Impact Fees would not be included as reimbursable cost from any future bond proceeds; both these changes have been incorporated in tonight’s attachments.

Additionally, the City Council’s approval was based on the understanding that the developer 216

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would include transparency items on their website and disclose CFD information at the time of sale. Staff will continue to work with the developer to ensure these requirements are met.

Public Hearing and Tonight’s Actions
On October 15, 2024, the City Council initiated proceedings to consider the establishment of a CFD pursuant to the provisions of the CFD Act as amended, Chapter 2.5 of Part 1 of Division 2 of Title 5, Commencing with Section 53311, of the California Government Code (the “Act”).

Tonight’s Public Hearing will provide the public an opportunity to provide testimony related to the formation of CFD No. 2024-1 (Dublin Centre) as well as the CFD Report (Attachment 1), which describes the CFD boundaries, the rate and method of apportionment of the special taxes to be levied, and the facilities to be financed by the CFD. The proceedings to establish CFD No. 2024-1 will be accomplished by the adoption of the resolutions and the introduction of an Ordinance Levying Special Taxes identified in the recommended actions.

Specifically, the City Council will be asked to consider the following actions:

1. Adopt Resolution of Formation
This resolution establishes the boundaries of CFD No. 2024-1, the rate and method of apportionment of the special taxes to be levied to provide for certain services in CFD No. 2024-1 and to pay the cost of the facilities to be financed by CFD No. 2024-1. It also sets out the terms and conditions for a special mailed-ballot election to be conducted by the City Clerk as the election official for a vote to be taken by the landowners of record. The registrar of voters has certified that there are no registered voters within the proposed CFD, thus the vote will be by the owner of land.

2. Adopt Resolution Declaring Intention to Incur Indebtedness This Resolution declares the necessity to incur indebtedness to finance identified public facilities to be financed through CFD No. 2024-1 and identifies a maximum proposed debt amount of $55 million.

3. Adopt a Resolution Calling for the Special Election
The election will be held at tonight’s meeting and the resolution will authorize the City Clerk to conduct the election and canvass the results. Prior to tonight’s meeting, the landowner filed a waiver of timing requirements for holding an election with the City Clerk which allows the election to be held at tonight’s meeting with the results also being determined at this meeting.

After these resolutions are adopted, the City Clerk will open the ballots and state the results of the special mailed ballot election. If the results of the special mailed ballot election reveal that the measures have received the affirmative vote of two-thirds of the votes cast, the City Council will then be asked to:

4. Adopt Resolution Declaring Results of Special Election and Directing Recording of Notice of Special Tax Lien
This resolution confirms the results of the election and directs recording of a notice of the lien of the special taxes. The City Clerk will complete the Canvass and Statement of Results of Election 217

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attached as an exhibit to the resolution.

5. Introduce and Waive the First Reading of the Ordinance Levying Special Taxes Within CFD No. 2024-1
This ordinance authorizes the levy of a special tax on parcels or real property on the secured property tax roll of Alameda County that are within the boundaries of CFD 2024-1.

Conclusion and Next Steps
The City Council may establish CFD No. 2024-1 only after conducting the public hearing and only if no majority protests of the landowner to establish CFD No. 2024-1 or the levy of special taxes is filed. Following tonight’s public hearing, the proposed schedule to complete the formation of the CFD is as follows:
 Record Notice of Special Tax Lien - within 15 days after tonight’s meeting.  Second Reading and Adoption of Ordinance levying Special Tax - December 3, 2024.  Effective Date of Special Tax Ordinance - 30 days after adoption, anticipated to be January 3, 2025.

The resolutions and related documents have been prepared and reviewed by the City’s finance team, which includes bond counsel, disclosure counsel, financial advisor, and special tax consultant. Based on the proposed timelines and the successful formation of the Dublin Centre CFD No. 2024-1, staff anticipates bringing the documents required for the first bond sale to the City Council in 2026.

STRATEGIC PLAN INITIATIVE:

None.

NOTICING REQUIREMENTS/PUBLIC OUTREACH:

A Public Hearing Notice was published in the Valley Times on November 12, 2024. The City Council Agenda was posted.

ATTACHMENTS:

1. Community Facilities District No. 2024-1 (Dublin Centre) Community Facilities District Report

2. Resolution Forming the City of Dublin Community Facilities District No. 2024-1 (Dublin Centre)

3. Exhibit A to the Resolution – Rate and Method of Apportionment

4. Resolution Determining Necessity to Incur Bonded Indebtedness for the City of Dublin Community Facilities District No. 2024-1 (Dublin Centre)

5. Resolution Calling Special Election for City of Dublin Community Facilities District No. 2024-1 (Dublin Centre)

6. Resolution Declaring Results of Special Election and Directing Recording of Notice of Special Tax Lien for City of Dublin Community Facilities District No. 2024-1 (Dublin Centre) 218

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7. Ordinance Levying Special Taxes within City of Dublin Community Facilities District No. 2024- 1 (Dublin Centre)
219

CITY OF DUBLIN
COMMUNITY FACILITIES DISTRICT NO. 2024-1

DUBLIN CENTRE

COMMUNITY FACILITIES DISTRICT HEARING REPORT

CONTENTS
Int
roduction
A. Des
cription of Facilities and Services
B. Co
st Estimates
C. Pr
oposed Boundaries of the Community Facilities District
D. R ate and M
ethod of Apportionment of Special Tax
* * * * * * * * * * * *
Exh
ibit A – List of Authorized Facilities and Services
Exh
ibit B – Cost Estimates
Exh
ibit C – Rate and Method of Apportionment of Special Tax Attachment 1
220

CITY OF DUBLIN
COMMUNITY FACILITIES DISTRICT NO. 2024-1
(DUBLIN CENTRE)

INTRODUCTION

The Board of Directors (the “ Board”) of the California Municipal Financing Authority (the “Authority”) did, pursuant to the provisions of the Mello- Roos Community Facilities Act of 1982 (the “ Act”), on October 15, 2024, adopt a resolution entitled, “ A Resolution of the City Council of the City of Dublin Declaring Intention to Form a Community Facilities District and Levy Special Taxes in City of Dublin Community Facilities District No. 2024 -1 (Dublin Centre) (the “ CFD”) to Finance Certain Public Services and the Acquisition and Construction of Certain Public Facilities in and for Such Community Facilities District ” (the “Resolution of Intention”). In the Resolution of Intention, the Board expressly ordered the preparation of a written Community Facilities District Report (the “Report”) for the proposed CFD.

The Resolution of Intention ordering the Report directed that the Report generally contain the following:

(a) A description of the facilities (the “ Facilities”) and the services (the “Services”) by type which will be required to adequately meet the needs of the CFD.

(b) An estimate of the fair and reasonable cost of the Facilities and Services including the cost of acquisition of lands, rights -of-way and easements, any physical facilities required in conjunction therewith and incidental expenses in connection therewith, including the costs of the proposed bond financing and other debt and all other related costs as provided in Section 53345.3 of the Act.

For particulars, reference is made to the Resolution of Intention for the CFD, as previously approved and adopted by the Board.

NOW, THEREFORE, the following data is submitted pursuant to the direction of the Board:

A. DESCRIPTION OF FACILITIES AND SERVICES. A general description of the proposed Facilities and Services i s provided in Exhibit “ A” attached hereto and hereby made a part hereof.

B. COST ESTIMATES. Cost estimates for the proposed Facilities and Services are set forth in Exhibit “B” attached hereto and hereby made a part hereof.

C. PROPOSED BOUNDARIES OF THE COMMUNITY FACILITIES DISTRICT.

The proposed boundaries of the CFD are those properties and parcels on which special taxes may be levied to pay for the Facilities and Services. The proposed boundaries of the CFD are identified in the map entitled “ Proposed Boundaries of City of Dublin 221

Community Facilities District No. 2024 -1 (Dublin Centre), County of Alameda, State of California” which has been recorded in the office of the Alameda County Recorder.

D. RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX . All of the property located within the CFD boundaries, unless exempted by law or by the Rate and Method of Apportionment of Special Tax (the “ RMA”), shall be taxed for the purpose of financing the Facilities and Services. The Board will annually determine the actual amount of the special tax levy based on the method and subject to the Maximum Special Tax rates contained in the RMA. The RMA is provided in Exhibit “ C”, attached hereto and hereby made a part hereof.

222

EXHIBIT A

CITY OF DUBLIN
COMMUNITY FACILITIES DISTRICT NO. 2024-1
(DUBLIN CENTRE)

LIST OF AUTHORIZED FACILITIES AND SERVICES

The CFD is authorized to finance, in whole or in part, the following facilities and services:

Authorized Facilities

In accordance with the Act, the CFD is authorized to finance the purchase, construction, expansion, improvement, or rehabilitation of any real or other tangible property with an estimated useful life of five years or longer, together with the planning and design work that is directly related to the purchase, construction, expansion, or rehabilitation of any real or tangible property (collectively, the "Facilities"). By way of example and not limitation, the CFD may fund any of the following: roadways and roadway improvements, traffic signals, regional hiking and biking trails, storm drains and basins, water and wastewater facilities (including, without limitation, domestic and non- domestic water facilities, wells, pre-treatment basins, infiltration basins, reservoirs, pipelines, storm and sewer drains and related infrastructure and improvements), wet and dry utilities, bridges and pedestrian bridges, tunnels, parks sites, park facilities and equipment, open space, school sites, school facilities and equipment , facilities and equipment relating to fire protection and suppression, facilities and equipment relating to police protection services, animal control facilities, library facilities and equipment, general government facilities, and related infrastructure improvements, both onsite and offsite, and all appurtenances and appurtenant work in connection with the foregoing (including utility line relocations and electric, gas and cable utilities). The Facilities may be constructed and installed by the City of Dublin ("City"), County of Alameda ("County"), Zone 7 Water Agency, Dublin San Ramon Services District, Dublin Unified School District or other local agency and/or acquired by the City, County, Zone 7 Water Agency, Dublin San Ramon Services District, or othe r local agency from private parties that construct the Facilities.

Authorized Facilities also include the prepayment of overlapping community facilities district and assessment district liens.

Authorized Services

The CFD is authorized to finance each and every service authorized to be financed under the Act (collectively, the "Services.") By way of example and not limitation, the CFD may fund any of the following: furnishing, operating, maintaining and repairing equipment, apparatus or facilities related to providing the Services and/or equipment, apparatus, facilities or fixtures in areas to be maintained or repaired, paying the salaries and benefits of personnel necessary or convenient to provide the Services, payment of insurance costs and other related expenses and the provision of reserves for repairs and 223

replacements and for the future provision of Services. "Maintenance" shall include replacement, and the creation and funding of a reserve fund to pay for a replacement. It is expected that the Services will be provided by the City, either with its own empl oyees or by contract with third parties, or any combination thereof.

Administrative and Incidental Expenses

In addition to the above facilities, other incidental expenses as authorized by the Mello-Roos Community Facilities Act of 1982, include these: the cost of planning, permitting, engineering, and designing the facilities (including the cost of environmental evaluation, orthophotography, and environmental remediation/mitigation); land acquisition and easement payments for authorized CF D facilities; project management; construction staking; engineering studies and preparation of an engineer's report; utility relocation and demolition costs incidental to construction of the facilities financed through the CFD; determination of the amount of taxes and collection of taxes; payment of taxes; costs otherwise incurred to carry out the authorized purposes of the CFD , including the issuance of bonds; reimbursements to other areas for infrastructure facilities or planning purposes serving development in the CFD ; and any other expenses incidental to the construction, completion, and inspection of the facilities.

In addition, the CFD shall fund the direct and indirect expenses incurred by the City, County or any other local agency in carrying out its duties with respect to the CFD including, but not limited to:

1. The levy and collection of the special taxes.

2. The fees and expenses of attorneys and consultants.

3. Any fees related to the collection of the special taxes.

4. An allocable share of the salaries and benefits of any City staff, or consultant fees, directly related thereto and a proportionate amount of the City's general administrative overhead related thereto.

5. Any amounts paid by the City with respect to the CFD.

6. Expenses incurred in undertaking action to foreclose on properties for which the payment of special taxes is delinquent.

7. Administrative fees of the City and the bond trustee or fiscal agent related to the CFD and the bonds issued by or for the CFD.

8. Costs related to the formation of the CFD.

in the CFD or any party related to any of the foregoing, for facilities, fees or other purposes or costs of the CFD.

10. Costs related to the issuance of bonds by or for the CFD, including underwriters discount, reserve fund, capitalized interest, letter of credit fees and expenses, fees and expenses of bond counsel, disclosure counsel, special tax consultant, municipal advisor and appraiser, bond remarketing costs, and all other incidental expenses.

11. All other costs and expenses of the City in any way related to the CFD.

225

EXHIBIT B

CITY OF DUBLIN
COMMUNITY FACILITIES DISTRICT NO. 2024-1
(DUBLIN CENTRE)

COST ESTIMATES

The following is a summary of the estimated costs of acquisition and construction of the Facilities. In addition, the CFD will finance bond and other debt issuance costs, capitalized interest, a debt service reserve fund, the costs of forming the CFD and other costs associated with the sale of bonds and annual administration of the CFD.

Facilities Estimated Cost
City of Dublin – Off-Site Improvements (Phase 1)
City of Dublin – On-Site Improvements (Phase 1)
City of Dublin – On-Site Improvements (Phase 2)
City of Dublin – On-Site Improvements (Phase 3)
City of Dublin – On-Site Improvements (Phase 4)
Contingency
Dublin San Ramon Service District – Sanitary Sewer Work Dublin San Ramon Service District – Water System Work
Total Facilities

$24,431,480
$2,756,190
$13,272,280
$11,514,780
$6,138,153
$8,716,932
$2,050,430
$2,962,720
$71,842,965

226

EXHIBIT C

CITY OF DUBLIN
COMMUNITY FACILITIES DISTRICT NO. 2024-1
(DUBLIN CENTRE)

RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAX

227

Dublin Centre CFD No. 2024-1 1 November 8, 2024

CITY OF DUBLIN
COMMUNITY FACILITIES DISTRICT NO. 2024-1
(DUBLIN CENTRE)

RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAXES

Special Taxes applicable to each Assessor’s Parcel in the City of Dublin C ommunity Facilities District No. 2024-1 (Dublin Centre) shall be levied and collected according to the tax liability determined by the City Council through the application of the appropriate amount or rate for Taxable Property, as described below. All of the property in the CFD, unless exempted by law or by the provisions of Section G below, shall be taxed for the purposes, to the extent, and in the manner herein provided.

A. DEFINITIONS

The terms hereinafter set forth have the following meanings:

“Acre” or “Acreage” means the land area of an Assessor’s Parcel as shown on an Assessor’s Parcel Map, or if the land area is not shown on an Assessor’s Parcel Map, the land area shown on the applicable Final Map or other parcel map recorded at the County Recorder’s Office.

“Act” means the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5 (commencing with Section 53311), Part 1, Division 2, of Title 5 of the Government Code of the State of California.

“Administrative Expenses” means any or all of the following: the fees and expenses of any fiscal agent or trustee (including any fees or expenses of its counsel) employed in connection with any Bonds, and the expenses of the City in carrying out its duties with respect to the CFD and the Bonds, including, but not limited to, the levy and collection of Special Taxes, the fees and expenses of its counsel, charges levied by the County in connection with the levy and collection of Special Taxes, costs related to property owner inquiries regarding the Special Taxes, costs associated with appeals or requests for interpretation associated with the Special Tax es and this RMA, amounts needed to pay rebate to the federal government with respect to Bonds, costs associated with complying with continuing disclosure requirements for the City and any major property owners or other obligated parties , costs associated with foreclosure and collection of delinquent Special Taxes, and all other costs and expenses of the City in any way related to the establishment or administration of the CFD.

“Administrator” shall mean the person or firm designated by the City to administer the Special Taxes according to this RMA.

“Affordable Housing Unit” means any Residential Unit on a Parcel of Developed Property for which a deed restriction has been recorded on title of the property that limits the rental rate or sales price or otherwise restricts the affordability of the Residential Unit or income of its occupants. It is incumbent upon the builder, developer, or property owner to make the Administrator aware of such deed restriction. Residential Units on Welfare Exemption Property shall be categorized as Welfare Exemption Property for purposes of this RMA, not as Affordable Housing Units. 228

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“Assessor’s Parcel” or “Parcel” means a lot or parcel shown on an Assessor’s Parcel Map with an assigned Assessor’s Parcel number.

“Assessor’s Parcel Map” means an official map of the County Assessor designating Parcels by Assessor’s Parcel number.

“Authorized Facilities” means the public facilities authorized to be financed, in whole or in part, by the CFD.

“Authorized Services” means the public services authorized to be funded, in whole or in part, by the CFD.

“Average Sales Price” means the weighted average sales price for all Residential Units within a particular Tax Zone that have sold within the p ast 6 months or are expected to sell in a normal marketing environment, and shall not include Affordable Housing Units or Residential Units that are sold at a discount for the purpose of stimulating initial sales activity. The sales price shall include the actual sales price of the Residential Units within the respective Tax Zone that have sold within the past 6 months or are expected to sell in a normal marketing environment including, but not limited to, options, upgrades, and premiums.

“Base Facilities Special Tax” means, for any Land Use Category, the applicable Special Tax initially identified in Table 1 of Section C, as may be adjusted pursuant to Section D herein.

“Bonds” means bonds or other debt (as defined in the Act), whether in one or more series, secured by the Facilities Special Tax and issued or assumed by the CFD to fund Authorized Facilities.

“Building Permit” means a permit that allows for vertical construction of a building or buildings, which shall not include a separate permit issued for construction of the foundation thereof.

“Capitalized Interest” means funds in any capitalized interest account available to pay debt service on Bonds.

“CFD” means the City of Dublin Community Facilities District No. 2024-1 (Dublin Centre).

“CFD Formation” means the date on which the Resolution of Formation to form the CFD was adopted by the City Council.

“City” means the City of Dublin.

“City Council” means the City Council of the City of Dublin, acting as the legislative body of CFD No. 2024-1.

“County” means the County of Alameda.

“Developed Property” means, in any Fiscal Year, all Parcels of Taxable Property that are not Taxable Owners Association Property , Taxable Public Property , or Taxable Welfare Exemption 229

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Property for which a Bu ilding Permit for new construction was issued prior to June 1 of the preceding Fiscal Year.

“Development Class” means, individually, Developed Property, Final Map Property, Undeveloped Property, Taxable Owners Association Property, Taxable Welfare Exemption Property, and Taxable Public Property.

“Exempt Affordable Units Parcel” means the Parcel in the CFD on which all Residential Units are expected to be Affordable Housing Units and, therefore, such Parcel (or Parcels once subdivided) is exempt from the levy of the Special Taxes unless and until Residential Units constructed on such Parcel(s) no longer have a deed restriction making them Affordable Units.

The Exempt Affordable Units Parcel is identified in Attachment 1 hereto. Such exemption shall apply to the Parcel once it becomes a stan d-alone Assessor’s Parcel, whether such Parcel is Developed Property or Undeveloped Property, as defined herein.

“Expected Land Uses” means, for any Tax Zone, the number of Residential Units and the acreage of Other Property expected within the CFD at CFD Formation, as identified in Attachments 1 and 2 of this RMA. Pursuant to Section D of this RMA, the Administrator shall update Attachment 2 each time there is a Land Use Change. Updates to Attachments 1 and 2 shall be maintained internally by the Administrator and shall not require recordation of an amended RMA.

“Expected Maximum Facilities Special Tax Revenues” means the aggregate Facilities Special Tax that can be levied based on application of the Base Facilities Special Tax to the Expected Land Uses. The Expected Maximum Facilities Special Tax Revenues at CFD Formation are shown in Attachment 2 and may be revised pursuant to Section D and H below. Updates to Attachments 1 and 2 shall be maintained internally by the Administrator and shall not require recordation of an amended RMA.

“Facilities Special Tax” means a special tax levied in any Fiscal Year on Parcels in the CFD to pay the Facilities Special Tax Requirement.

“Facilities Special Tax Requirement” means the amount necessary in any Fiscal Year (i) to pay principal and interest on Bonds which are due in the calendar year which begins in such Fiscal Year, (ii) to replenish reserve funds to the extent such replenishment has not been included in a computation of the Facilities Special Tax Requirement in a previous Fiscal Year, (iii) to cure any delinquencies in the payment of principal or interest on Bonds which have occurred in the prior Fiscal Year, (iv) to pay Administrative Expenses, and (v) to pay the costs of Authorized Facilities to be funded directly from Facilities Special Tax proceeds to the extent that paying directly for such costs does not increase the Facilities Special Taxes levied on Final Map Property or Undeveloped Property. The amounts referred to in clauses (i) and (ii) of the preceding sentence may be redu ced in any Fiscal Year by (i) interest earnings on or surplus balances in funds and accounts for Bonds to the extent that such earnings or balances are available to apply against debt service pursuant to the Indenture, (ii) proceeds from the collection of penalties associated with delinquent Facilities Special Taxes, and (iii) any other revenues available to pay debt service on the Bonds as determined by the Administrator.

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“Final Map” means a final map, or portion thereof, approved by the C ity pursuant to the Subdivision Map Act (California Government Code Section 66410 et seq) that creates SFD Lots.

The term “Final Map” shall not include any large-lot subdivision map, Assessor’s Parcel Map, or subdivision map or portion thereof, that does not create SFD Lots, including Assessor’s Parcels that are designated as remainder parcels.

“Final Map Property” means, in any Fiscal Year, all SFD Lots created within Final Map s that had recorded prior to June 1 of the preceding Fiscal Year and which have not yet become Developed Property.

“First Bond Sale” means issuance of the first series of Bonds secured, in whole or in part, by Facilities Special Taxes levied and collected from Parcels of Taxable Property in the CFD.

“Fiscal Year” means the period starting July 1 and ending on the following June 30.

“Improvement Fund” means the account (regardless of its name) identified in the Indenture to hold funds that are available for expenditure to acquire or construct Authorized Facilities or to pay eligible impact fees.

“Indenture” means the bond indenture, fiscal agent agreement, trust agreement, resolution or other instrument pursuant to which Bonds are issued, as modified, amended, and/or supplemented from time to time, and any instrument replacing or supplementing the same.

“Land Use Category” means, individually, Single Family Property or Other Property. Affordable Housing Units shall be considered a separate Land Use Category for purposes of this RMA.

“Land Use Change” means a proposed or approved change to the Expected Land Uses after CFD Formation.

“Master Developer” means Landsea Homes Corporation, and its successors and assigns.

“Maximum Facilities Special Tax” means the greatest amount of Facilities Special Tax that can be levied on a Parcel in any Fiscal Year as determined in accordance with Sections C and D below.

“Maximum Services Special Tax” means the greatest amount of Services Special Tax that can be levied on a Parcel in any Fiscal Year, as determined in accordance with Section C below.

“Maximum Special Tax” means, as the context requires, either or both of the Maximum Facilities Special Tax and Maximum Services Special Tax.

“Other Property” means any Parcel of Developed Property in the CFD that does not fit within the definition of Single Family Property or Affordable Housing Unit.

“Owners Association” means a homeowners association or property owners association that provides services to, and collects assessments, fees, dues, or charges from, property within the CFD.

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“Owners Association Property” means any property within the boundaries of the CFD that is owned in fee or through easement by the Owners Association, not including any such property that is located directly under a residential structure.

“Price Point Consultant” means any consultant or firm selected by the City that: (a) has substantial experience in performing price point studies for Residential Units within community facilities districts or otherwise estimating or confirming pricing for Residential Units in community facilities districts; (b) has recognized expertise in analyzing economic and real estate data that relates to the pricing of Residential Units in community facilities districts; (c) is independent and not under the control of the City or any developer of Parcels in the CFD; (d) does not have any substantial interest, direct or indirect, with or in: (i) the CFD, (ii) the City, or (iii) any owner of real property in the CFD; and (e) is not connected with the City as an officer or employee thereof, but who may be regularly retained to make reports to the City.

“Price Point Study” means a price point study or letter updating a previous price point study prepared by the Price Point Consultant pursuant to Section D herein. For each Tax Zone in the CFD, the price point study shall analyze Residential Units with similar density, lot sizes, square footage ranges, and product type as the Residential Units within that Tax Zone and excluding Affordable Housing Units. The Master Developer will be provided the opportunity to review and comment on the draft price point study before a final version is presented to the City.

“Proportionately” means, for each Development Class, that the ratio of the actual Special Tax levied in any Fiscal Year to the Maximum Special Tax authorized to be levied in that Fiscal Year is equal for all parcels assigned to the Development Class.

“Public Property” means any property within the boundaries of the CFD that is owned by the City, County, federal government, State of California, or other public agency.

“Required Coverage” means the amount by which the Expected Maximum Facilities Special Tax Revenues must exceed the Bond debt service and priority Administrative Expenses (if any), as set forth in the Indenture, Certificate of Special Tax Consultant, or other formation or bond document that sets forth the minimum required debt service coverage.

“Residential Unit” means an SFD Unit or an individual residential unit within a duplex, halfplex, triplex, fourplex, townhome, live/work or condominium structure. A second unit (granny flat) that shares a Parcel with an SFD Unit shall not be considered a Residential Unit for purposes of levying the Special Taxes.

“RMA” means this Rate and Method of Apportionment of Special Taxes.

“Services Special Tax” means a special tax levied in any Fiscal Year on Parcels in the CFD to pay the Services Special Tax Requirement.

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amounts available (as determined by the C ity) from the levy of the Services Special Tax in prior Fiscal Years, including revenues from collection of delinquent Services Special Taxes and associated penalties and interest.

“SFD Lot” means an individual residential lot, identified and numbered on a recorded Final Map, on which a Building Permit has been or is permitted to be issued for construction of an SFD Unit without further subdivision of the lot and for which no further subdivision of the lot is anticipated pursuant to an approved Tentative Map.

“SFD Unit” means a r esidential dwelling unit that does not share a common wall with another residential dwelling unit.

“Single Family Property” means, in any Fiscal Year, all Parcels of Taxable Property for which a Building Permit was or is expected to be issued for : (i) construction of a n SFD Unit, or (ii) construction of a residential structure consisting of two or more Residential Units that share common walls, have separate Assessor’s Parcel numbers assigned to them (except for a duplex unit, which may share an Assessor’s Parcel with another duplex unit), and may be purchased by individual homebuyers (which shall still be the case even if the Residential Units are purchased and subsequently offered for rent by the owner s of the Residential U nits), including such residential structures that meet the statutory definition of a condominium contained in Civil Code Section 1351.

“Special Taxes” means, as the context requires, either or both of the Facilities Special Tax and Services Special Tax.

“Tax Zone” means a geographic area within which a particular Maximum Facilities Special Tax rate may be levied pursuant to this RMA, as identified in Attachment 1 hereto.

“Taxable Owners Association Property” means, in any Fiscal Year after the First Bond Sale, any Parcel of Owners Association Property that satisfies all three of the following conditions: (i) the Parcel had not been Owners Association Property on the date of the First Bond Sale; (ii) based on reference to Attachments 1 and 2 (as may be updated pursuant to Section D below), the Parcel was not anticipated to be Owners Association Property as determined by the Administrator; and (iii) if the Parcel were to be e xempt from the Facilities Sp ecial Tax because it is Owners Association Property, the Expected Maximum Facilities Special Tax Revenues would be reduced to a point at which Required Coverage could not be maintained.

“Taxable Property” means all of the Parcels within the boundaries of the CFD that are not exempt from the Special Taxes pursuant to law or Section G below.

“Taxable Public Property ” means in any Fiscal Year after the F irst Bond Sale, any Parcel of Public Property that satisfies all three of the following conditions: (i) the Parcel had not been Public Property on the date of the First Bond Sale; (ii) based on reference to Attachments 1 and 2 (as may be updated pursuant to Section D below), the Parcel was not anticipated to be Public Property as determined by the Administrator; and (iii) if the Parcel were to be exempt from the Facilities Special Tax because it is Public Property, the Expected Maximum Facilities Special Tax Revenues would be reduced to a point at which Required Coverage could not be maintained. 233

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“Taxable Welfare Exemption Property” means in any Fiscal Year after the First Bond Sale, any Parcel of Welfare Exemption Property that satisfies all three of the following conditions: (i) the Parcel had not been Welfare Exemption Property on the date of issuance of the First Bond Sale; (ii) based on reference to Attachments 1 and 2 (as may be updated pursuant to Section D below ), the Parcel was not anticipated to be Welfare Exemption Property based on the Expected Land Uses, as determined by the Administrat or; and (iii) if the Parcel were to be exempt from the Facilities Special Tax because it has become Welfare Exemption Property, the Expected Maximum Facilities Special Tax Revenues would be reduced to a point at which Required Coverage could not be maintained.

“Tentative Map” means a tentative map or substantial conformance e xhibit for property in the CFD, including any adjustments or amendments thereto.

“Total Tax Burden” means, for Single Family Property, that the Special Taxes, together with ad valorem property taxes, special assessments, special taxes for any overlapping community facilities districts, or any other taxes, fees and charges which would be collected by the County on property tax bills for a Residential Unit with an assessed value equal to the Average Sales Price, and which are payable from and secured by the property assuming such Residential Unit had been completed, sold, and subject to such levies and impositions.

“Undeveloped Property” means, in any Fiscal Year, all Parcels of Taxable Property that are not Final Map Property, Developed Property, Taxable Owners Association Property, Taxable Public Property, or Taxable Welfare Exemption Property as defined herein.

“Welfare Exemption Property” means, in any Fiscal Year, any Parcels in the CFD that have received a welfare exemption under subdivision (g) of Section 214 of the Revenue and Taxation Code and for which such welfare exemption is still in place.

B. DATA FOR ADMINISTRATION OF THE SPECIAL TAXES

Each Fiscal Year, the Administrator shall: (i) assign each Parcel of Taxable Property to the appropriate Tax Zone and the appropriate Development Class; (ii) for Developed Property, categorize each Parcel as Single Family Property, an Affordable Housing Unit, or Other Property; and (iii) determine the Facilities Special Tax Requirement and the Services Special Tax Requirement for the Fiscal Year. In addition, the Administrator shall, on an ongoing basis, monitor the Tentative Map, Final Maps, and Building Permits to determine if there are any proposed Land Use Changes that would change the Expected Maximum Facilities Special Tax Revenues. If the Expected Maximum Facilities Special Tax Revenues will be revised pursuant to a proposed Land Use Change, the Administrator shall apply the steps set forth in Section D below.

Dublin Centre CFD No. 2024-1 8 November 8, 2024
other Parcels created by the subdivision, the Administrator shall calculate the Special Taxes for the property affected by recordation of the parcel map by determining the Special Taxes that apply separately to the property within each Development Class, then applying the sum of the individual Special Taxes to the Parcel that was subdivided by recordation of the parcel map.

C. MAXIMUM SPECIAL TAXES

1. Facilities Special Tax: Developed Property and Final Map Property

The Maximum Facilities Special Tax for a Parcel of Developed Property is the greater of: (i) the Base Facilities Special Tax set forth in Table 1 below, or (ii) the Maximum Facilities Special Tax determined pursuant to Section D.

Table 1
Base Facilities Special Tax
Developed Property and Final Map Property

Land Use Category
Base Facilities Special Tax
Fiscal Year 2024-25 *
Tax Zone 1
Single Family Property
Affordable Housing Units
Other Property
$2,630 per Residential Unit or SFD Lot
$0 per Residential Unit
$78,600 per Acre
Tax Zone 2
Single Family Property
Affordable Housing Units
Other Property
$5,217 per Residential Unit or SFD Lot
$0 per Residential Unit
$150,900 per Acre
Tax Zone 3
Single Family Property
Affordable Housing Units
Other Property
$4,281 per Residential Unit or SFD Lot
$0 per Residential Unit
$76,600 per Acre
Tax Zone 4
Single Family Property
Affordable Housing Units
Other Property
$7,099 per Residential Unit or SFD Lot
$0 per Residential Unit
$99,300 per Acre
Tax Zone 5
Single Family Property
Affordable Housing Units
Other Property
$7,271 per Residential Unit or SFD Lot
$0 per Residential Unit
$124,400 per Acre
Tax Zone 6
Single Family Property
Affordable Housing Units
Other Property
$8,097 per Residential Unit or SFD Lot
$0 per Residential Unit
$113,300 per Acre

* On July 1, 2025, and on each July 1 thereafter, all figures shown in Table 1 above shall be increased by an amount equal to 2.0% of the amount in effect for the prior Fiscal Year.

2. Facilities Special Tax: Undeveloped Property, Taxable Owners Association Property, Taxable Welfare Exemption Property, and Taxable Public Property

Table 2 below identifies the Maximum Facilities Special Tax for Parcels of Undeveloped Property, 235

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Taxable Owners Association Property, Taxable Welfare Exemption Property, and Taxable Public Property in each Tax Zone.

Table 2
Maximum Facilities Special Tax for Undeveloped Property, Taxable Owners Association Property, Taxable Welfare Exemption Property, and Taxable Public Property

Tax Zone
Maximum Facilities
Special Tax
(Fiscal Year 2024-25)*
Tax Zone 1
Tax Zone 2
Tax Zone 3
Tax Zone 4
Tax Zone 5
Tax Zone 6
$78,600 per Acre
$150,900 per Acre
$76,600 per Acre
$99,300 per Acre
$124,400 per Acre
$113,300 per Acre

* On July 1, 2025 and on each July 1 thereafter, all dollar amounts shown in Table 2 above shall be increased by an amount equal to 2.0% of the amount in effect for the prior Fiscal Year.

3. Services Special Tax: Developed Property and Final Map Property

The Maximum Services Special Tax for Parcels of Developed Property and Final Map Property is $469 per Residential Unit or SFD Lot in Fiscal Year 2024-25. Notwithstanding the foregoing, the Maximum Services Special Tax shall not be levied on Affordable Housing Units. On July 1, 2025 and on each July 1 thereafter, the Maximum Services Special Tax shall be increased by an amount equal to 4.0% of the amount in effect for the prior Fiscal Year.

4. Services Special Tax: Undeveloped Property

Table 3 below identifies the Maximum Services Special Tax for Parcels of Undeveloped Property in each Tax Zone.

Table 3
Maximum Services Special Tax for Undeveloped Property

Tax Zone
Maximum Services
Special Tax
(Fiscal Year 2024-25)*
Tax Zone 1
Tax Zone 2
Tax Zone 3
Tax Zone 4
Tax Zone 5
Tax Zone 6
$14,100 per Acre
$13,560 per Acre
$8,390 per Acre
$6,560 per Acre
$8,030 per Acre
$6,560 per Acre

* On July 1, 2025 and on each July 1 thereafter, all dollar amounts shown in Table 3 above shall be increased by an amount equal to 4.0% of the amount in effect for the prior Fiscal Year.

D. CHANGES TO THE MAXIMUM FACILITIES SPECIAL TAX

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Pursuant to this Section D, the Administrator may from time to time update Attachment 2 to reflect revised Expected Maximum Facilities Special Tax Revenues. Such update shall be maintained internally by the Administrator and shall not require recordation of an amended RMA.

1. Land Use Changes

The Expected Maximum Facilities Special Tax Revenues shown in Attachment 2 were originally calculated based on the Expected Land Uses at CFD Formation. Attachment 2 is subject to modification upon the occurrence of Land Use Changes, as described below. The Administrator shall review all Land Use Changes and compare the revised land uses to the Expected Land Uses to evaluate the impact on the Expected Maximum Facilities Special Tax Revenues.

Prior to the First Bond Sale, if a Land Use Change is proposed or identified that will result in a change in the Expected Maximum Facilities Special Tax Revenues, no action will be needed pursuant to this Section D. Upon approval of the Land Use Change, the Administrator shall update Attachment 2 to show the revised Expected Maximum Facilities Special Tax Revenues.

After the First Bond Sale, if a Land Use Change is proposed or identified, Steps 1 through 3 below must be applied:

Step 1: By reference to Attachment 2 (which shall be updated by the Administrator each time a Land Use Change has been processed according to this Section D or a partial prepayment has been made), the Administrator shall identify the Expected Maximum Facilities Special Tax Revenues prior to the Land Use Change.

Step 2: The Administrator shall calculate the Expected Maximum Facilities Special Tax Revenues that could be collected from Taxable Property in the CFD after the Land Use Change based on application of the Base Facilities Special Taxes from Table

1. Step 3: If the revenues calculated in Step 2 ar e (i) higher than those determined in Step 1 or (ii) less than those calculated in Step 1, but the reduction in Expected Maximum Facilities Special Tax Revenues does not reduce debt service coverage on outstanding Bonds below Required Coverage, no further action is needed, and the Administrator shall update Attachment 2 to show the revised Expected Maximum Facilities Special Tax Revenues.

If the revenues calculated in Step 2 are less than those calculated in Step 1, and the Administrator determines that the reduction in Expected Maximum Facilities Special Tax Revenues would reduce debt service coverage on outstanding Bonds below the Required Coverage, one of the following shall occur:

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by the earlier of (i) 30 days from the date of delivery of the prepayment estimate or (ii) the date of issuance of any Building Permits for any Parcel owned by the Requesting Landowner that was Final Map Property or Undeveloped Property at the time the Administrator prepared the prepayment estimate, or

3.b. If a prepayment is not received by the due date specified above, the Base Facilities Special Tax used to determine the Maximum Facilities Special Tax for each Parcel of Taxable Property in the area affected by the Land Use Change shall be increased proportionate ly until the Expected Maximum Facilities Special Tax Revenues are sufficient to maintain Required Coverage.

If multiple Land Use Changes are proposed simultaneously by a single landowner (which may include approval of multiple Final Maps at one time), and the landowner requests that the impact of two or more of the Land Use Changes be considered together, the Administrator shall consider the combined effect of the Land Use Changes to determine if there is a reduction in Expected Maximum Facilities Special Tax Revenues. If there is a reduction that would reduce debt service coverage below the Required Coverage, and no prepayment has been received, then the Base Facilities Special Tax used to determine the Maximum Facilities Special Tax for each Parcel of Taxable Property in the areas affected by the Land Use Changes shall be increased proportionately until the aggregate amount that can be levied within such areas is equal to the amount that could have been levied prior to the proposed Land Use Changes. If Land Use Changes are proposed simultaneously by multiple landowners, or if an individual landowner proposing multiple Land Use Changes does not request that such Land Use Changes be considered together , the Administrator shall consider the proposed Land Use Changes individually.

Notwithstanding the foregoing, once a certificate of occupancy has been issued for a Residential Unit on a Parcel, the Maximum Facilities Special Tax for the Parcel cannot be increased because of subsequent Land Use Changes that may occur within the area in which the Parcel is located.

The duties imposed on the Administrator pursuant to this Section D to review Land Use Changes, and to review Final Maps and make certain calculations, are intended only to facilitate the administration of the Facilities Special Tax and to better assure the sufficiency of tax capacity to pay debt service on Bonds. Such duties are not intended to give any developer, subdivider, or owner of property the right to receive notice of the potential impact of Land Use Changes on the Facilities Special Tax applicable to a Parcel; and each developer, subdivider, or owner of property whose property is the subject of a Land Use Change shall be responsible for understanding the impact thereof on the Facilities Special Tax applicable to such property.

2. Partial Prepayments

If a Parcel makes a partial prepayment pursuant to Section H below, the Administrator shall recalculate the Maximum Facilities Special Tax for the Parcel pursuant to Section H.2. In addition, the Administrator shall update Attachment 2 to reflect the prepayment and the revised Expected Maximum Facilities Special Tax Revenues for the CFD. After the prepayment has been received, the application of Sections D, E, and H of this RMA shall be based on the adjusted Expected Maximum Facilities Special Tax Revenues after the prepayment.

3. Conversion of a Parcel to a Taxable Land Use
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If, in any Fiscal Year, an Affordable Housing Unit, the Exempt Affordable Units Parcel, or a Parcel of Public Property, Welfare Exemption Property, or Owners Association Property that had been exempt from the Special Taxes is converted to Single Family Property or Other Property , such Parcel shall be subject to the levy of Special Tax es. The Maximum Special Tax es for each such Parcel shall be determined based on the applicable Land Use Category for the Parcel, as determined by the Administrator. In addition, the Administrator shall update Attachment 2 to reflect the revised Expected Land Uses and Expected Maximum Facilities Special Tax Revenues for the CFD.

4. Increase in Affordable Housing Units

If, prior to the First Bond Sale, the Administrator determines that there is an increase in the number of Affordable Housing Units expected within any Tax Zone , the Administrator shall update the Expected Land Uses and Expected Maximum Facilities Special Tax Revenues in Attachment 2, and the additional Affordable Housing Units will be exempt from the Special Taxes.

If, at any time after the First Bond Sale, additional Affordable Housing Units are proposed, and if the addition of the new Affordable Housing Units will decrease the Expected Maximum Facilities Special Tax Revenues to a point at which Required Coverage cannot be maintained, the Administrator shall calculate the Maximum Facilities Special Tax that must be assigned to each of the new Affordable Housing Units to maintain Required Coverage. The Maximum Facilities Special Tax assigned to the new Affordable Housing Units shall be escalated each Fiscal Year by an amount equal to 2.0% of the amount in effect for the prior Fiscal Year.

5. Transfer of Expected Maximum Facilities Special Tax Revenues Among Tax Zones

The Expected Maximum Facilities Special Tax Revenues were determined for each Tax Zone based on the Expected Land Uses within that Tax Zone . If the expected number of Residential Units or the expected acres of Other Property is transferred from one Tax Zone to another, the City may, in its sole discretion, allow for a corresponding transfer of Expected Maximum Facilities Special Tax Revenues between the Tax Zones. Such a transfer shall only be allowed if (i) all adjustments are agreed to in writing by the affected property owners and the City, and (ii) there is no reduction in the total Expected Maximum Facilities Special Tax Revenue s as a result of the transfer. After such a transfer, the Administrator shall update Attachment 2 to reflect the revised Expected Maximum Facilities Special Tax Revenues for each Tax Zone.

6. Reduction in Maximum Facilities Special Tax

The Base Facilities Special Tax for one or more Tax Zones shall be reduced prior to the First Bond Sale if the City reasonably determines based on a Price Point Study that, without a reduction in the Base Facilities Special Tax for Residential Units within those Tax Zone(s), the Total Tax Burden will exceed 1.75% of the Average Sales Price. Such determination shall be made by the City hiring, at the CFD’s expense, a Price Point Consultant to prepare a Price Point Study to confirm the Average Sales Price for Residential Units within each Tax Zone. If, based on the Price Point Study, the Administrator calculates that the Total Tax Burden for Residential Units within one or more Tax Zones will exceed 1. 75% of the Average Sales Price, the Administrator and the City shall meet with the Master Developer to discuss the findings, after which point the Administrator shall reduce the Base Facilities Special Tax to the point at which the Total Tax Burden on 239

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Residential Units in each Tax Zone in the CFD is equal to 1. 75% of the Average Sales Price for such Residential Units . Any such reduction shall occur at least 60 days prior to the First Bond Sale.

The Base Facilities Special Taxes set forth in Table 1 may also be (i) dis proportionately reduced prior to the First Bond Sale, but not to a level that exceeds the 1.75% described in the previous paragraph, so long as the Master Developer is the owner of all P arcels in the CFD and requests a reduction in the Base Facilities Special Taxes, or (ii) proportionately or disproportionately reduced prior to the First Bond Sale, but not to a level that exceeds the 1.75% described in the previous paragraph, if the owner of any Parcel in the CFD requests a reduction in the Base Facilities Special Taxes and the owners of all Parcels in the CFD consent to such reduction by unanimous vote. Any such reduction shall occur at least 60 days prior to the First Bond Sale.

The Base Facilities Special Tax reductions permitted pursuant to this paragraph shall be reflected in an Amended Notice of Special Tax Lien, which the Administrator shall cause to be recorded.

If, based on the Price Point Study, the Administrator determines that the Total Tax Burden will not exceed 1.75% of the Average Sales Price, then there shall be no change in the Base Facilities Special Tax for Residential Units unless so requested by the Master Developer.

E. METHOD OF LEVY OF THE SPECIAL TAXES

1. Facilities Special Tax

Each Fiscal Year, the Administrator shall determine the Facilities S pecial Tax Requirement to be collected in that Fiscal Year. A Facilities Special Tax shall then be levied according to the following steps:

Step 1: The Facilities Special Tax shall be levied Proportionately on each Parcel of Developed Property up to 100% of the Maximum Facilities Special Tax for each Parcel of Developed Property until the amount levied is equal to the Facilities Special Tax Requirement prior to applying any Capitalized Interest that is available in the CFD accounts.

Step 2: If additional revenue is needed after Step 1 in order to meet the Facilities Special Tax Requirement after Capitalized Interest has been applied to reduce the Facilities Special Tax Requirement, the Facilities Special Tax shall be levied Proportionately on each Parcel of Final Map Property up to 100% of the Maximum Facilities Special Tax for each Parcel of Final Map Property until the amount levied is equal to the Facilities Special Tax Requirement.

Step 3: If additional revenue is needed after Step 2, the Facilities Special Tax shall be levied Proportionately on each Parcel of Undeveloped Property up to 100% of the Maximum Facilities Special Tax for each Parcel of Undeveloped Property until the amount levied is equal to the Facilities Special Tax Requirement.

Step 4: If additional revenue is needed after Step 3, the Facilities Special Tax shall be levied Proportionately on each Parcel of Taxable Welfare Exemption Property, up to 240

Dublin Centre CFD No. 2024-1 14 November 8, 2024
100% of the Maximum Facilities Special Tax for each Parcel of Taxable Welfare Exemption Property for such Fiscal Year until the amount levied is equal to the Facilities Special Tax Requirement.

Step 5: If additional revenue is needed after Step 4, the Facilities Special Tax shall be levied Proportionately on each Parcel of Taxable Owners Association Property, up to 100% of the Maximum Facilities Special Tax for each Parcel of Taxable Owners Association Property until the amount levied is equal to the Facilities Special Tax Requirement.

Step 6: If additional revenue is needed after Step 5, the Facilities Special Tax shall be levied Proportionately on each Parcel of Taxable Public Property, up to 100% of the Maximum Facilities Special Tax for each Parcel of Taxable Public Property until the amount levied is equal to the Facilities Special Tax Requirement.

2. Services Special Tax

Each Fiscal Year, the Administrator shall determine the Services Special Tax Requirement and the Services Special Tax shall be levied according to the steps outlined below.

Step 1: The Services Special Tax shall be levied Proportionately on each Parcel of Developed Property up to 100% of the Maximum Services Special Tax for each Parcel of Developed Property for such Fiscal Year until the amount levied is equal to the Services Special Tax Requirement.

Step 2: If additional revenue is needed after Step 1, the Services Special Tax shall be levied Proportionately on each Parcel of Final Map Property up to 100% of the Maximum Services Special Tax for each Parcel of Final Map Property for such Fiscal Year until the amount levied is equal to the Services Special Tax Requirement.

Step 3: If additional revenue is needed after Step 2, the Services Special Tax shall be levied Proportionately on each Parcel of Undeveloped Property up to 100 % of the Maximum Services Special Tax for Undeveloped Property for such Fiscal Year until the amount levied is equal to the Services Special Tax Requirement.

F. MANNER OF COLLECTION OF SPECIAL TAXES

The Special Tax es shall be collected in the same manner and at the same time as ordinary ad valorem property taxes, provided, however, that prepayments are permitted as set forth in Section H below and provided further that the City may directly bill the Special Taxes, may collect Special Taxes at a different time or in a different manner, and may collect delinquent Special Taxes through foreclosure or other available methods.

The Facilities Special Tax shall be levied and collected until principal and interest on Bonds have been repaid. However, in no event shall Facilities Special Taxes be levied after Fiscal Year 2064-

65. Under no circumstances may the Facilities Special Tax on a Parcel of Developed Property in residential use be increased in any Fiscal Year as a consequence of delinquency or default in 241

Dublin Centre CFD No. 2024-1 15 November 8, 2024
payment of the Facilities Special Tax levied on another Parcel or Parcels by more than ten percent (10%) above the amount that would have been levied in that Fiscal Year had there never been any such delinquencies or defaults.

The Services Special Tax may be levied and collected in perpetuity.

G. EXEMPTIONS

Notwithstanding any other provision of this RMA, no Special Taxes shall be levied in any Fiscal Year on the following:

i. Public Property, except Taxable Public Property.

ii. Owners Association Property, except Taxable Owners Association Property.

iii. Welfare Exemption Property, except Taxable Welfare Exemption Property.

iv. Affordable Housing Units, except as otherwise provided in Section D.4

v. The Exempt Affordable Units Parcel, except as otherwise provided in Section D.3

vi. Parcels that are owned by a public utility for an unmanned facility.

vii. Parcels that are subject to an easement that precludes any other use on the Parcel.

viii. For purposes of levying the Facilities Special Tax, Parcels that have fully prepaid the Facilities Special Tax obligation assigned to the Parcel pursuant to the formula set forth in Section H below. Such Parcels shall still be subject to the levy of the Services Special Tax.

H. PREPAYMENTS

The following definitions apply to this Section H:

“Outstanding Bonds” means all Previously Issued Bonds which remain outstanding, with the following exception: if a Facilities Special Tax has been levied against, or already paid by, an Assessor’s Parcel making a prepayment, and a portion of the Facilities Special Tax will be used to pay a portion of the next principal payment on the Bonds that remain outstanding (as determined by the Administrator), that next principal payment shall be subtracted from the total Bond principal that remains outstanding, and the difference shall be used as the amount of Outstanding Bonds for purposes of this prepayment formula.

“Previously Issued Bonds” means all Bonds that have been issued prior to the date of prepayment.

Dublin Centre CFD No. 2024-1 16 November 8, 2024
CFD or there is an adjustment to the Expected Maximum Facilities Special Tax Revenues due to a Land Use Change or prepayment.

“Remaining Facilities Costs” means the Public Facilities Requirement minus public facility costs funded by Previously Issued Bonds, developer equity, and any other source of funding.

1. Full Prepayment

The Facilities Special Tax obligation applicable to a Parcel in the CFD may be prepaid and the obligation of the Parcel to pay the Facilities Special Tax permanently satisfied as described herein, provided that a prepayment may be made only if there are no delinquent Special Taxes with respect to such Parcel at the time of prepayment. An owner of a Parcel intending to prepay the Facilities Special Tax obligation shall provide the City with written notice of intent to prepay. Within 30 days of receipt of such written notice, the City or its designee shall notify such owner of the prepayment amount for such Parcel. Prepayment must be made not less than 60 days prior to any redemption date for Bonds to be redeemed with the proceeds of such prepaid Facilities Special Taxes. The Prepayment Amount shall be calculated as follows (capitalized terms as defined below):

Bond Redemption Amount
plus Remaining Facilities Amount
plus Redemption Premium
plus Defeasance Requirement
plus Administrative Fees and Expenses
less Reserve Fund Credit
equals Prepayment Amount

As of the proposed date of prepayment, the Prepayment Amount shall be determined by application of the following steps:

Step 1. Compute the amount that could be collected from the Parcel prepaying the Facilities Special Tax in the Fiscal Year in which prepayment would be received by the City by applying the Base Facilities Special Tax to the Expected Land Uses for the Parcel . If this Section H is being applied to calculate a prepayment pursuant to Section D above, compute the amount by which the proposed Land Use Change would reduce Expected Maximum Facilities Special Tax Revenues below the amount needed for Required Coverage, and use this amount for purposes of this Step 1.

Step 2. Divide the Maximum Facilities Special Tax computed pursuant to Step 1 for such Parcel by the total Expected Maximum Facilities Special Tax Revenues for all property in the CFD, as shown in Attachment 2 and as adjusted by the Administrator after prepayments or Land Use Changes.

Step 3. Multiply the quotient computed pursuant to Step 2 by the Outstanding Bonds to compute the amount of Outstanding Bonds to be retired and prepaid (the “Bond Redemption Amount”).
243

Dublin Centre CFD No. 2024-1 17 November 8, 2024

Step 4. Compute the current Remaining Facilities Costs (if any).

Step 5. Multiply the quotient computed pursuant to Step 2 by the amount determined pursuant to Step 4 to compute the amount of Remaining Facilities Costs to be prepaid (the “Remaining Facilities Amount”).

Step 6. Multiply the Bond Redemption Amount computed pursuant to Step 3 by the applicable redemption premium, if any, on the Outstanding Bonds to be redeemed (the “Redemption Premium”).

Step 7. Compute the amount needed to pay interest on the Bond Redemption Amount starting with the first Bond interest payment date after which the prepayment will be received until the earliest redemption date for the Outstanding Bonds. However, if Bonds are call able at the first interest payment date after the prepayment has been received, Steps 7, 8 , and 9 of this prepayment formula will not apply.

Step 8: Compute the amount of interest the City reasonably expects to derive from reinvestment of the Bond Redemption Amount plus the Redemption Premium from the first Bond interest payment date after which the prepayment has been received until the redemption date for the Outstanding Bonds.

Step 9: Subtract the amount computed pursuant to Step 8 from the amount computed pursuant to Step 7 (the “Defeasance Requirement”).

Step 10. The administrative fees and expenses associated with the prepayment will be determined by the Administrator and include the costs of computing the prepayment, redeeming Bonds , and recording any notices to evidence the prepayment and the redemption (the “Administrative Fees and Expenses”).

Step 11. If and to the extent so provided in the Bond Indenture, a reserve fund credit shall be calculated as a reduction in the applicable reserve fund for the Outstanding Bonds to be redeemed pursuant to the prepayment (the “Reserve Fund Credit”).

Step 12. The Facilities Special Tax prepayment is equal to the sum of the amounts computed pursuant to Steps 3, 5, 6, 9, and 10, less the amount computed pursuant to Step 11 (the “Prepayment Amount”).

Step 13. From the Prepayment Amount, the amounts computed pursuant to Steps 3, 6, and 9 shall be deposited into the appropriate fund as established under the Indenture and be used to retire Outstanding Bonds or make debt service payments. The amount computed pursuant to Step 5 shall be deposited into the Improvement Fund. The amount computed pursuant to Step 10 shall be retained in the account or fund that is established to pay Administrative Expenses.
244

Dublin Centre CFD No. 2024-1 18 November 8, 2024

Once a full prepayment of a Parcel’s Facilities Special Tax obligation has been received, a Notice of Cancellation of Facilities Special Tax Lien shall be recorded against the Parcel to reflect the discharge of the Parcel’s obligation to pay the Facilities S pecial Tax. However, a Notice of Cancellation of Facilities Special Tax Lien shall not be recorded until all Facilities Special Taxes levied on the Parcel in the current or prior Fiscal Years have been collected.

2. Partial Prepayment

A partial prepayment may be made in an amount equal to any percentage of full prepayment desired by the party making a partial prepayment, except that the full amount of Administrative Fees and Expenses determined in Step 10 shall be included in the partia l prepayment. The Maximum Facilities Special Tax that can be levied on a Parcel after a partial prepayment is made shall be equal to the portion of the Maximum Facilities Special Tax that was not prepaid. Once a partial prepayment has been received, an Amended Notice of Facilities Special Tax Lien shall be recorded against the Parcel to reflect the reduced Facilities Special Tax lien for the Parcel, and the Administrator shall update Attachment 2 to show the revised Expected Maximum Facilities Special Tax Revenues. However, an Amended Notice of Facilities Special Tax Lien shall not be recorded until all Facilities Special Taxes levied on the Parcel in the current or prior Fiscal Years have been collected.

3. Maintaining Required Coverage

Notwithstanding the foregoing, if at any point in time the Administrator determines that the Maximum Facilities Special Tax revenue that c ould be collected from Taxable Property that remains subject to the Facilities Special Tax after the proposed prepayment would be less than the Required Coverage on Bonds that will remain outstanding after defeasance or redemption of Bonds from proceeds of the estimated prepayment, the amount of the prepayment shall be increased until the amount of Bonds defeased or redee med is sufficient to reduce remaining annual debt service to a point at which Required Coverage is maintained.

I. INTERPRETATION OF RMA

The City reserves the right to make minor administrative and technical changes to this document that do not materially affect the rate and method of apportioning Special Taxes. In addition, the interpretation and application of any section of this document shall be left to the City’s discretion. Interpretations may be made by the City by ordinance or resolution for purposes of clarifying any vagueness or ambiguity in this RMA.
245

ATTACHMENT 1

City of Dublin
Community Facilities District No. 2024-1
(Dublin Centre)

Identification of Tax Zones and Expected Lot Layout

246
247

ATTACHMENT 2

City of Dublin
Community Facilities District No. 2024-1
(Dublin Centre)

Expected Land Uses and Expected Maximum Facilities Special Tax Revenues

Tax Zone and
Land Use Category
Expected
Land Uses
Base Facilities
Special Tax
(FY 2024-25) *
Expected
Maximum
Facilities Special
Tax Revenues
(FY 2024-25) *
Tax Zone 1
Single Family Property
Affordable Housing Units
Other Property
106 Residential Units
6 Residential Units
0 Acres
$2,630 per Res.Unit
$0 per Res.Unit
$78,600 per Acre
$278,780
$0
$0
Tax Zone 2
Single Family Property
Affordable Housing Units
Other Property
215 Residential Units
0 Residential Units
0 Acres
$5,217 per Res.Unit
$0 per Res.Unit
$150,900 per Acre
$1,121,655
$0
$0
Tax Zone 3
Single Family Property
Affordable Housing Units
Other Property
40 Residential Units
0 Residential Units
0 Acres
$4,281 per Res.Unit
$0 per Res.Unit
$76,600 per Acre
$171,240
$0
$0
Tax Zone 4
Single Family Property
Affordable Housing Units
Other Property
15 Residential Units
0 Residential Units
0 Acres
$7,099 per Res.Unit
$0 per Res.Unit
$99,300 per Acre
$106,485
$0
$0
Tax Zone 5
Single Family Property
Affordable Housing Units
Other Property
105 Residential Units
0 Residential Units
0 Acres
$7,271 per Res.Unit
$0 per Res.Unit
$124,400 per Acre
$763,455
$0
$0
Tax Zone 6
Single Family Property
Affordable Housing Units
Other Property
13 Residential Units
0 Residential Units
0 Acres
$8,097 per Res.Unit
$0 per Res.Unit
$113,300 per Acre
$105,261
$0
$0
Expected Maximum Facilities Special Tax Revenues (FY 2024-25 $) $2,546,876

* On July 1, 2025, and each July 1 thereafter, all dollar amounts shown above shall be increased by two percent ( 2%) of the amount in effect in the prior Fiscal Year.

248
Attachment 2
Reso. No. XX-24, Item X.X, Adopted XX/XX/2024 Page 1 of 9 RESOLUTION NO. XX-24

A RESOLUTION OF THE CITY COUNCIL

OF THE CITY OF DUBLIN
FORMING THE CITY OF DUBLIN COMMUNITY FACILITIES DISTRICT NO. 2024-1 (DUBLIN CENTRE)
WHEREAS, on October 15, 2024, the City Council (the “City Council”) of the City of Dublin (the “City”) adopted Resolution No. 122-24 (the “Resolution of Intention”), stating its intention to form the City of Dublin Community Facilities District No. 2024-1 (Dublin Centre) (the “CFD”) pursuant to the Mello-Roos Community Facilities Act of 1982, as amended, Chapter 2.5 of Part 1 of Division 2 of Title 5, commencing with Section 53311, of the California Government Code (the “Act”); and
WHEREAS, the Resolution of Intention, describing a map of the proposed boundaries of the CFD, and stating the services and facilities to be provided, the cost of providing such services and facilities, and the rate and method of apportionment of the special taxes to be levied within the CFD to pay for the services and facilities, including the principal and interest on bonds proposed to be issued with respect to the CFD for the facilities, is on file with the City Clerk and the provisions thereof are incorporated herein by this reference as if fully set forth herein; and
WHEREAS, on this date, this City Council held a noticed public hearing as required by the Act and the Resolution of Intention relative to the proposed formation of the CFD; and
WHEREAS, at the hearing all interested persons desiring to be heard on all matters pertaining to the formation of the CFD, the services and facilities to be provided therein and the levy of said special taxes were heard and a full and fair hearing was held; and
WHEREAS, at the hearing evidence was presented to this City Council on said matters before it, including a report prepared by Goodwin Consulting Group (the “Report”) at the request of the Finance Director of the City, as to the services and facilities to be provided through the CFD and the costs thereof, a copy of which is on file with the City Clerk, and this City Council at the conclusion of said hearing is fully advised as to its substance; and
WHEREAS, written protests with respect to the proposed formation of the CFD, the furnishing of specified types of services and facilities and the rate and method of apportionment of the special taxes have not been filed with the City Clerk by 50% or more of the registered voters residing within the territory of the CFD or property owners of one- half or more of the area of land within the CFD and not exempt from the proposed special tax; and
249
Reso. No. XX-24, Item X.X, Adopted XX/XX/2024 Page 2 of 9 WHEREAS, the special taxes proposed to be levied in the CFD to pay for the proposed services and facilities to be provided therein, as set forth in the Rate and Method of Apportionment of Special Taxes attached as Exhibit A hereto, has not been eliminated by protest by 50% or more of the registered voters residing within the territory of the CFD or the owners of one-half or more of the area of land within the CFD and not exempt from the special tax.

NOW, THEREFORE, BE IT RESOLVED THAT the City Council of the City of Dublin hereby finds, determines and resolves as follows:

1. Recitals Correct. The foregoing recitals are true and correct.

2. No Majority Protest . The proposed special taxes to be levied within the CFD has not been precluded by majority protest pursuant to section 53324 of the Act.

3. Prior Proceedings Valid. All prior proceedings taken by this City Council in connection with the establishment of the CFD, and the levy of the special taxes have been duly considered and are hereby found and determined to be valid and in conformity with the Act.

4. Name of CFD. The community facilities district designated “City of Dublin Community Facilities District No. 2024-1 (Dublin Centre)” is hereby established pursuant to the Act.

5. Boundaries of CFD. The boundaries of the CFD, as set forth in the map of the CFD heretofore recorded in the Alameda County Recorder’s Office on November 1, 2024 in Book 19 at Page 54, as Document No. 2024134898 of Maps of Assessment and Community Facilities Districts, are hereby approved, are incorporated herein by reference and shall be the boundaries of the CFD, respectively.

6. Description of Facilities and Services. The type of public facilities proposed to be financed by the CFD and pursuant to the Act shall consist of those items listed as facilities in Exhibit B hereto and by this reference incorporated herein (the “Facilities”), which list of facilities has been amended since the Resolution of Intention to eliminate impact fees and reduce the maximum special tax for some tax zones. The financing of the costs of Facilities may include, without limitation, the payment of principal of and interest on bonds together with all direct, indirect periodic, and/or other related costs (including, without limitation, costs of administering the CFD, levying, securing and administering the Special Taxes and the bonds, and establishing and replenishing reserve funds).

The type of services proposed to be financed by the CFD pursuant to the Act shall consist of those listed as services in Exhibit B hereto and hereby incorporated herein (the “Services”). The City Council hereby determines that the Services are necessary to meet increased demands for such services placed upon local agencies as the result of development occurring within the area of the CFD. The Services are in addition to those 250
Reso. No. XX-24, Item X.X, Adopted XX/XX/2024 Page 3 of 9 provided in the territory of the CFD as of the date hereof and will not supplant services already available within the territory of the CFD as of the date hereof.

7. Special Tax.
a. Except to the extent that funds are otherwise available to the CFD to pay for the Services and Facilities, including the principal and interest as it becomes due on bonds of the CFD issued to finance the Facilities, special taxes (the “Special Taxes”) sufficient to pay the costs thereof, secured by the recordation of a continuing lien against all non-exempt real property in the CFD, is intended to be levied annually within the CFD, and collected in the same manner as ordinary ad valorem property taxes or in such other manner as may be prescribed by this City Council.
b. The proposed Rate and Method of Apportionment of Special Taxes (the “Rate and Method”) among the parcels of real property within the CFD, in sufficient detail to allow each landowner within the proposed CFD to estimate the maximum amount such owner will have to pay, is shown in Exhibit A attached hereto and hereby incorporated herein.
c. The Special Taxes shall not be levied in the CFD after the fiscal year specified in the Rate and Method, except that Special Taxes that were lawfully levied in or before the final tax year and that remains delinquent may be collected in subsequent years. Under no circumstances shall Special Taxes levied against any parcel in the CFD to be used for private residential purposes be increased as a consequence of delinquency or default by the owner of any other parcel or parcels within the CFD by more than 10%.

8. Increased Demands. It is hereby found and determined that the Services and Facilities are necessary to meet increased demands placed upon local agencies as the result of development occurring in the CFD.

9. Responsible Official. The Finance Director of the City of Dublin, 100 Civic Plaza, Dublin, CA 94568, Telephone (925) 833-6648, is the officer of the City who will be responsible for preparing annually a current roll of special tax levy obligations by assessor’s parcel number and who will be responsible for estimating future special tax levies pursuant to the Act.

10. Tax Lien. Upon recordation of a notice of special tax lien pursuant to Section 3114.5 of the Streets and Highways Code of California, a continuing lien to secure each levy of the Special Taxes shall attach to all nonexempt real property in the CFD, and this lien shall continue in force and effect until the special tax obligation is prepaid and permanently satisfied and the lien canceled in accordance with law or until collection of the tax by the City ceases.
251
Reso. No. XX-24, Item X.X, Adopted XX/XX/2024 Page 4 of 9

11. Appropriations Limit. In accordance with the Act, the annual appropriations limit, as defined by subdivision (h) of Section 8 of Article XIII B of the California Constitution, for the CFD is hereby preliminarily established at an initial amount of $55,000,000, and said appropriations limit shall be submitted to the voters of the CFD as hereafter provided, and subject to increase in accordance with law. The proposition establishing said annual appropriations limit shall become effective if approved by the qualified electors voting thereon and shall be adjusted in accordance with the applicable provisions of the Act.

12. Election. Pursuant to the provisions of the Act, the proposition of the levy of the Special Taxes and the proposition of the establishment of the appropriations limit specified above shall be submitted to the qualified electors of the CFD at an election. The time, place and conditions of the election shall be as specified by a separate resolution of this City Council.

13. Acquisition of Facilities. Public improvements authorized to be financed by the CFD from proceeds of the Bonds will be acquired by the City from a developer of land in the District pursuant to the terms of an Acquisition Agreement by and between the City and the developer. The Council hereby delegates authority to the City Manager and each other authorized officer of the City to enter into an Acquisition Agreement in a form approved by such officer.

14. Acquisition of Facilities by Other Agencies. Section 53316.2 of the Act provides that a community facilities district may finance facilities to be owned or operated by a public agency other than the agency that created the district, or services to be provided by a public agency other than the agency that created the district, or any combination, only pursuant to a joint community facilities agreement or a joint exercise of powers agreement adopted pursuant to this section. The City Manager and each other authorized officer of the City is hereby authorized and directed to enter into a joint community facilities agreement with the Dublin San Ramon Services District and any other entity that will own or operate any of the Facilities, as may be necessary to comply with the provisions of Section 53316.2(a) and (b) of the Act. The Council hereby declares that such joint agreements will be beneficial to owners of property in the area of the CFD.

15. Effective Date. This resolution shall take effect upon its adoption. {Signatures on the following page}
252
Reso. No. XX-24, Item X.X, Adopted XX/XX/2024 Page 5 of 9 PASSED, APPROVED, AND ADOPTED this 19th day of November 2024, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:
__________________________
Mayor
ATTEST:

City Clerk
253
Attachment 2

EXHIBIT A

RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAXES
See attached.
254
Exhibit B

Page 1 ends

EXHIBIT B

LIST OF AUTHORIZED FACILITIES AND SERVICES
The CFD is authorized to finance, in whole or in part, the following facilities and services:

Authorized Facilities
In accordance with the Act, the CFD is authorized to finance the purchase, construction, expansion, improvement, or rehabilitation of any real or other tangible property with an estimated useful life of five years or longer, together with the planning and design work that is directly related to the purchase, construction, expansion, or rehabilitation of any real or tangible property (collectively, the “Facilities”). By way of example and not limitation, the CFD may fund any of the following: roadways and roadway improvements, traffic signals, regional hiking and biking trails, storm drains and basins, water and wastewater facilities (including, without limitation, domestic and non-domestic water facilities, wells, pre-treatment basins, infiltration basins, reservoirs, pipelines, storm and sewer drains and related infrastructure and improvements), wet and dry utilities, bridges and pedestrian bridges, tunnels, parks sites, park facilities and equipment, open space, school sites, school facilities and equipment, facilities and equipment relating to fire protection and suppression, facilities and equipment relating to police protection services, animal control facilities, library facilities and equipment, general government facilities, and related infrastructure improvements, both onsite and offsite, and all appurtenances and appurtenant work in connection with the foregoing (including utility line relocations and electric, gas and cable utilities). The Facilities may be constructed and installed by the City of Dublin (“City”), County of Alameda (“County”), Zone 7 Water Agency, Dublin San Ramon Services District, Dublin Unified School District or other local agency and/or acquired by the City, County, Zone 7 Water Agency, Dublin San Ramon Services District, or other local agency from private parties that construct the Facilities.

Authorized Facilities also include the prepayment of overlapping community facilities district and assessment district liens.

Authorized Services
The CFD is authorized to finance each and every service authorized to be financed under the Act (collectively, the “Services.”) By way of example and not limitation, the CFD may fund any of the following: furnishing, operating, maintaining and repairing equipment, apparatus or facilities related to providing the Services and/or equipment, apparatus, facilities or fixtures in areas to be maintained or repaired, paying the salaries and benefits of personnel necessary or convenient to provide the Services, payment of insurance costs and other related expenses and the provision of reserves for repairs and replacements and for the future provision of Services. “Maintenance” shall include replacement, and the creation and funding of a reserve fund to pay for a replacement. It is expected that 255
Exhibit B

Page 2 ends

the Services will be provided by the City, either with its own employees or by contract with third parties, or any combination thereof.

Administrative and Incidental Expenses
In addition to the above facilities, other incidental expenses as authorized by the Mello-Roos Community Facilities Act of 1982, include these: the cost of planning, permitting, engineering, and designing the facilities (including the cost of environmental evaluation, orthophotography, and environmental remediation/mitigation); land acquisition and easement payments for authorized CFD facilities; project management; construction staking; engineering studies and preparation of an engineer’s report; utility relocation and demolition costs incidental to construction of the facilities financed through the CFD; determination of the amount of taxes and collection of taxes; payment of taxes; costs otherwise incurred to carry out the authorized purposes of the CFD, including the issuance of bonds; reimbursements to other areas for infrastructure facilities or planning purposes serving development in the CFD; and any other expenses incidental to the construction, completion, and inspection of the facilities.

1. The levy and collection of the special taxes.

2. The fees and expenses of attorneys and consultants.

3. Any fees related to the collection of the special taxes.

4. An allocable share of the salaries and benefits of any City staff, or consultant fees, directly related thereto and a proportionate amount of the City’s general administrative overhead related thereto.

5. Any amounts paid by the City with respect to the CFD.

6. Expenses incurred in undertaking action to foreclose on properties for which the payment of special taxes is delinquent.

7. Administrative fees of the City and the bond trustee or fiscal agent related to the CFD and the bonds issued by or for the CFD.

8. Costs related to the formation of the CFD.

9. Reimbursement of costs related to the formation of the CFD advanced by the City, the landowner(s) in the CFD or any party related to any of the foregoing, as well as reimbursement of any costs advanced by the City, the landowner(s) in the CFD or any party related to any of the foregoing, for facilities, fees or other purposes or costs of the CFD.

10. Costs related to the issuance of bonds by or for the CFD, including underwriters discount, reserve fund, capitalized interest, letter of credit fees 256
Exhibit B

Page 3 ends

and expenses, fees and expenses of bond counsel, disclosure counsel, special tax consultant, municipal advisor and appraiser, bond remarketing costs, and all other incidental expenses.

11. All other costs and expenses of the City in any way related to the CFD. 257

CITY OF DUBLIN
COMMUNITY FACILITIES DISTRICT NO. 2024-1
(DUBLIN CENTRE)

RATE AND METHOD OF APPORTIONMENT OF SPECIAL TAXES
Special Taxes applicable to each Assessor’s Parcel in the City of Dublin C ommunity Facilities District No. 2024-1 ( Dublin Centre) shall be levied and collected according to the tax liability determined by the City Council through the application of the appropriate amount or rate for Taxable Property, as described below. All of the property in the CFD, unless exempted by law or by the provisions of Section G below, shall be taxed for the purposes, to the extent, and in the manner herein provided.

A. DEFINITIONS
The terms hereinafter set forth have the following meanings:
“A
cre” or “Acreage” means the land area of an Assessor’s Parcel as shown on an Assessor’s Parcel Map, or if the land area is not shown on an Assessor’s Parcel Map, the land area shown on the applicable Final Map or other parcel map recorded at the County Recorder’s Office. “Ac
t” means the Mello-Roos Community Facilities Act of 1982, as amended, being Chapter 2.5 (commencing with Section 53311), Part 1, Division 2, of Title 5 of the Government Code of the State of California.
“A
dministrative Expenses” means any or all of the following: the fees and expenses of any fiscal agent or trustee (including any fees or expenses of its counsel) employed in connection with any Bonds, and the expenses of the City in carrying out its duties with respect to the CFD and the Bonds, including, but not limited to, the levy and collection of Special Taxes, the fees and expenses of its counsel, charges levied by the County in connection with the levy and collection of Special Taxes, costs related to property owner inquiries regarding the Special Taxes, costs associated with appeals or requests for interpretation associated with the Special Tax es and this RMA, amounts needed to pay rebate to the federal government with respect to Bonds, costs associated with complying with continuing disclosure requirements for the City and any major property owners or other obligated parties , costs associated with foreclosure and collection of delinquent Special Taxes, and all other costs and expenses of the City in any way related to the establishment or administration of the CFD.
“A
dministrator” shall mean the person or firm designated by the C ity to administer the Special Taxes according to this RMA.
“A
ffordable Housing Unit” means any Residential Unit on a Parcel of Developed Property for which a deed restriction has been recorded on title of the property that limits the rental rate or sales price or otherwise restricts the affordability of the Residential Unit or income of its occupants. It is incumbent upon the builder, developer, or property owner to make the Administrator aware of such deed restriction. Residential Units on Welfare Exemption Property shall be categorized as Welfare Exemption Property for purposes of this RMA, not as Affordable Housing Units.

Attachment 3
Exhibit A to Resolution Forming the City of Dublin Community Facilities District No. 2024-1 (Dublin Centre) 258