Agenda packet — Dublin City Council, September 16, 2025 (part 1 of 2)

September 16, 2025 Dublin City Council Regular Meeting Agenda 1 COUNCILMEMBERS Peter W. Snyder Council Chamber
Dr. Sherry Hu, Mayor Dublin Civic Center
Kashef Qaadri, Vice Mayor 100 Civic Plaza
Jean Josey, Councilmember Dublin, CA 94568
Michael McCorriston, Councilmember www.dublin.ca.gov
John Morada, Councilmember
Regular Meeting of the

DUBLIN CITY COUNCIL
Tuesday, September 16, 2025 Location: Peter W. Snyder Council Chamber
100 Civic Plaza
Dublin, CA 94568
CLOSED SESSION 6:00 PM
REGULAR MEETING 7:00 PM
Additional Meeting Procedures
This City Council meeting will be broadcast live on Comcast T.V. channel 28 beginning at 7:00 p.m. This meeting will also be livestreamed at www.tv30.org and on the City’s website at: https://dublin.ca.gov/ccmeetings For the convenience of the City and as a courtesy to the public, members of the public who wish to offer comments electronically have the option of giving public comment via Zoom, subject to the following procedures:
- Fill out an online speaker slip available at www.dublin.ca.gov. The speaker slip will be made available at 10:00 a.m. on Tuesday, September 16, 2025. Upon submission, you will receive Zoom link information from the City Clerk.

Speakers slips will be accepted until the staff presentation ends, or until the public comment period on non-agenda items is closed.
- Once connected to the Zoom platform using the Zoom link information from the City Clerk, the public speaker will be added to the Zoom webinar as an attendee and muted. The speaker will be able to observe the meeting from the Zoom platform.
- When the agenda item upon which the individual would like to comment is addressed, the City Clerk will announce the speaker in the meeting when it is their time to give public comment. The speaker will then be unmuted to give public comment via Zoom.
- Technical difficulties may occur that make the option unavailable, and, in such event, the meeting will continue despite the inability to provide the option.
1 September 16, 2025 Dublin City Council Regular Meeting Agenda 2

CLOSED SESSION 6:00 PM

I. PUBLIC EMPLOYEE PERFORMANCE EVALUATION
Title: City Attorney

II. CONFERENCE WITH LABOR NEGOTIATORS
Agency designed representatives: Councilmembers Josey and McCorriston Unrepresented employee: City Attorney

III. CONFERENCE WITH LEGAL COUNSEL—EXISTING LITIGATION
(Paragraph (1) of subdivision (d) of Section 54956.9)
Name of case: Kingswood Owners Association v. City of Dublin, Alameda County Superior Court Case No. 24CV087642

IV. CONFERENCE WITH LEGAL COUNSEL— EXISTING LITIGATION
(Paragraph (1) of subdivision (d) of Section 54956.9)
In Purdue Pharma L.P., et al. (S.D. N.Y.), Case No. 19-23649

V. CONFERENCE WITH LEGAL COUNSEL— EXISTING LITIGATION
(Paragraph (1) of subdivision (d) of Section 54956.9)
In re: National Prescription Opiate Litigation (N.D. Ohio) Case No. 1:17-md-2804

REGULAR MEETING 7:00 PM

1. CALL TO ORDER AND PLEDGE OF ALLEGIANCE

2. REPORT ON CLOSED SESSION

3. PRESENTATIONS AND PROCLAMATIONS

3.1 Presentation of the Constitution Week Proclamation
The City Council will present the Constitution Week Proclamation to the Daughters of the American Revolution.

STAFF RECOMMENDATION:

Present the proclamation.

Staff Report
Attachment 1 - Constitution Week Proclamation

3.2 Employee Introductions
New City of Dublin staff members, Lacey Bockhaus, Digital Communications Technician with the City Manager’s Office, and Christina Brekelmans, Recreation Coordinator with Parks and Community Services, will be introduced.

STAFF RECOMMENDATION:

Welcome the new City of Dublin staff members.

Staff Report

2 September 16, 2025 Dublin City Council Regular Meeting Agenda 3

4. PUBLIC COMMENT
At this time, the public is permitted to address the City Council on non-agendized items.

Please step to the podium and clearly state your name for the record. COMMENTS SHOULD NOT EXCEED THREE (3) MINUTES. In accordance with State Law, no action or discussion may take place on any item not appearing on the posted agenda. The Council may respond to statements made or questions asked, or may request Staff to report back at a future meeting concerning the matter. Any member of the public may contact the City Clerk’s Office related to the proper procedure to place an item on a future City Council agenda. The exceptions under which the City Council MAY discuss and/or take action on items not appearing on the agenda are contained in Government Code Section 54954.2(b)(1)(2)(3).

5. CONSENT CALENDAR
Consent Calendar items are typically non-controversial in nature and are considered for approval by the City Council with one single action. Members of the audience, Staff or the City Council who would like an item removed from the Consent Calendar for purposes of public input may request the Mayor to remove the item.

5.1 Approval of September 2, 2025 Regular City Council Meeting Minutes The City Council will consider approving the minutes of the September 2, 2025 Regular City Council Meeting.

STAFF RECOMMENDATION:

Approve the minutes of the September 2, 2025 Regular City Council Meeting.

Staff Report
Attachment 1 - September 2, 2025 Regular City Council Meeting Minutes

5.2 Authorizing the Enforcement of the California Vehicle Code Within the Wallis Ranch Subdivision and Approving an Agreement for Traffic Enforcement Services The City Council will consider entering into another agreement for Dublin Police Services to provide traffic enforcement within the Wallis Ranch subdivision.

STAFF RECOMMENDATION:

Adopt the Resolution Authorizing Enforcement of the California Vehicle Code to Privately Owned Roads Within the Wallis Ranch Subdivision and Approving an Agreement with the Wallis Ranch Homeowner’s Association for the Provision of Traffic Enforcement Services.

Staff Report
Attachment 1 - Resolution Authorizing Enforcement of the California Vehicle Code to Privately Owned Roads Within the Wallis Ranch Subdivision and Approving an Agreement Attachment 2 - Exhibit A to the Resolution - Agreement Between the City of Dublin and Wallis Ranch Homeowners Association Regarding Enhanced Police Services

5.3 Fourth Amendment to the Land Lease with U.S. Bank National Association The City Council will consider a Fourth Amendment to the Land Lease between the City of Dublin and U.S. Bank National Association.

STAFF RECOMMENDATION:

Adopt the Resolution Approving the Fourth Amendment to the Land Lease Between the City of Dublin and U.S. Bank National Association.

Staff Report
Attachment 1 - Resolution Approving the Fourth Amendment to the Land Lease between the City of Dublin and U.S. Bank National Association

3 September 16, 2025 Dublin City Council Regular Meeting Agenda 4

Attachment 2 - Exhibit A to the Resolution - Fourth Amendment to the Land Lease between the City of Dublin and U.S. Bank National Association

5.4 Payment Issuance Report and Electronic Funds Transfer The City Council will receive a listing of payments issued from August 1, 2025 – August 31, 2025, totaling $24,541,574.76.

STAFF RECOMMENDATION:

Receive the report.

Staff Report
Attachment 1 - Payment Issuance Report for Aug 2025

5.5 Adoption of the City of Dublin Title VI Program
The City Council will consider adopting the City of Dublin Title VI Program in accordance with a statue provision of the Civil Rights Act of 1964 that prohibits discrimination in any program or activity receiving federal financial assistance. The Title VI Program ensures compliance through a public notice of rights, complaint procedures, designation of a Title VI Coordinator, and ongoing reporting to the California Department of Transportation, which is responsible for distributing Federal Highway Administration funds to local agencies.

STAFF RECOMMENDATION:

Adopt the Resolution Adopting the City of Dublin Title VI Program.

Staff Report
Attachment 1 - Resolution Adopting the City of Dublin Title VI Program Attachment 2 - Exhibit A to the Resolution - City of Dublin Title VI Program

5.6 2025 Development Agreement Review
The City Council will receive a report on the annual review of active Development Agreements to ensure compliance with the terms and provisions of the Agreements pursuant to the California Government Code, Sections 65864 - 65869.5, and to Chapter 8.56 of the Dublin Municipal Code.

STAFF RECOMMENDATION:

Adopt the Resolution Finding that Developers Having Obligations Under Active Development Agreements and Supplemental Agreements as Amended, Have Complied in Good Faith with the Terms and Provisions of the Agreements.

Staff Report
Attachment 1 - Resolution Finding that Developers Having Obligations Under Active Development Agreements and Supplemental Agreements as Amended, Have Complied in Good Faith with the Terms and Provisions of the Agreements

6. PUBLIC HEARING – None.

7. UNFINISHED BUSINESS – None.

8. NEW BUSINESS

8.1 Annual Review of the City’s Statement of Investment Policy The City Council will consider a resolution completing the annual review of the Statement of Investment Policy. The Policy has been updated to align with the City’s Mission, Vision, and Values, as identified in the City’s Strategic Plan by adding three new categories to the 4 September 16, 2025 Dublin City Council Regular Meeting Agenda 5

prohibited investment list. Additionally, City Staff relocated existing prohibitions into the designated “Prohibited Investments” section for consistency and clarity.

While not required by statute, annual review of a local agency’s investment policy is recommended by the California Debt and Investment Advisory Commission and is included as a requirement in the City Policy.

STAFF RECOMMENDATION:

Adopt the Resolution Approving the Annual Review of the Statement of Investment Policy and Delegation of Authority to Complete Investment Transactions.

Staff Report
Attachment 1 - Resolution Approving the Annual Review of the Statement of Investment Policy and Delegation of Authority to Complete Investment Transactions Attachment 2 - Exhibit A to the Resolution - Statement of Investment Policy for the City of Dublin
Attachment 3 - Statement of Investment Policy for the City of Dublin Redline Attachment 4 - June 2, 2025 Finance and Investment Committee Agenda Item #2.2 Staff Report (No Attachments)
Item 8.1 - PowerPoint Presentation

8.2 Agreement with East Bay Pool Service, Inc. for Aquatic Facilities Maintenance The City Council will consider approving an agreement with East Bay Pool Service, Inc. for Aquatic Facilities Maintenance.

STAFF RECOMMENDATION:

Adopt the Resolution Approving the Contractor Services Agreement with East Bay Pool Service, Inc. for Aquatic Facilities Maintenance and approve the budget change.

Staff Report
Attachment 1 - Resolution Approving the Contractor Services Agreement with East Bay Pool Service, Inc for Aquatic Facilities Maintenance
Attachment 2 - Exhibit A to the Resolution - Contractor Services Agreement Between City of Dublin and East Bay Pool Service, Inc. for Aquatic Facilities Maintenance Attachment 3 - Proposal - East Bay Pool Service, Inc
Attachment 4 - Request for Proposals
Attachment 5 - Budget Change Form - Aquatics Maintenance Agreement FY 2025-26 Item 8.2 PowerPoint Presentation

9. CITY MANAGER AND CITY COUNCIL REPORTS
Brief information only reports from City Council and/or Staff, including committee reports and reports by City Council related to meetings attended at City expense (AB1234).

10. ADJOURNMENT

This AGENDA is posted in accordance with Government Code Section 54954.2(a)

If requested, pursuant to Government Code Section 54953.2, this agenda shall be made available in appropriate alternative formats to persons with a disability, as required by Section 202 of the Americans with Disabilities Act of 1990 (42 U.S.C. Section 12132) (ADA), and the federal rules and regulations adopted in implementation thereof. To make a request for disability-related modification or accommodation, please contact the City Clerk’s Office (925) 833-6650 at least 72 hours in advance of the meeting. Upon receiving a request, the City will swiftly resolve requests for 5 September 16, 2025 Dublin City Council Regular Meeting Agenda 6

reasonable accommodation for individuals with disabilities, consistent with the federal ADA, and resolve any doubt in favor of accessibility.

Agenda materials that become available within 72 hours in advance of the meeting, and after publishing of the agenda, will be available at Civic Center, 100 Civic Plaza, and will be posted on the City’s website at www.dublin.ca.gov/ccmeetings.

Mission

The City of Dublin promotes and supports a high quality of life, ensures a safe, secure, and sustainable environment, fosters new opportunities, and champions a culture of equity, diversity, and inclusion.

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Agenda Item 3.1
DATE: September 16, 2025

TO: Honorable Mayor and City Councilmembers

FROM: Colleen Tribby, City Manager

SUBJECT:

Presentation of the Constitution Week Proclamation
Prepared by: Vanessa Rosales, Deputy City Clerk

EXECUTIVE SUMMARY:

The City Council will present the Constitution Week Proclamation to the Daughters of the American Revolution.

STAFF RECOMMENDATION:

Present the proclamation.

FINANCIAL IMPACT:

None.

DESCRIPTION:

Constitution Week commemorates one of America’s most important founding documents. It is celebrated annually during the week of September 17-23.

The purpose of the Constitution Week celebrations are to:
 Emphasize citizens’ responsibilities to protect and defend the Constitution.  Inform people that the Constitution is the basis for America’s great heritage and the foundation for our way of life.
 Encourage the study of the historical events which led to the framing of the Constitution in September 1787.

STRATEGIC PLAN INITIATIVE:

None.

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NOTICING REQUIREMENTS/PUBLIC OUTREACH:

The City Council Agenda was posted.

ATTACHMENTS:

1) Constitution Week Proclamation
8 Attachment 1

A PROCLAMATION OF THE CITY COUNCIL

CITY OF DUBLIN, CALIFORNIA

“Constitution Week”
September 17 - 23, 2025

WHEREAS, September 17, 2025 marks the 238th anniversary of the signing of the Constitution of the United States of America by delegates of the Constitutional Convention; and

WHEREAS, it is fitting and proper to accord official recognition to this magnificent document and its memorable anniversary; and to th e patriotic celebrations which will commemorate the occasion; and

WHEREAS, the National Society of the Daughters of the American Revolution (NSDAR) upholds the goals of Constitution Week, supporting Dublin libraries, schools, and civic organizations in teaching all citizens, especially youth and newly naturalized citizens, about our founding documents; and

WHEREAS, the local Jose Maria Amador NSDAR chapter runs an annual Constitution Week Poster Contest to raise awareness and inspire Dublin’s citizens; and

WHEREAS, Public Law 915 guarantees the issuing of a proclamation each year by the Presi dent of the United States of America designating September 17 through 23 as Constitution Week.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does hereby proclaim September 17, 202 5 through September 23, 2025, as Constitution Week in the City of Dublin, and encourages its residents to reaffirm the ideals that the framers of the Constitution had in 1787 by vigilantly protecting the freedom guaranteed through this guardian of liberties, and remembering that lost rights may never be regained.

DATED: September 16, 2025

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Agenda Item 3.2
DATE: September 16, 2025

TO: Honorable Mayor and City Councilmembers

FROM: Colleen Tribby, City Manager

SUBJECT:

Employee Introductions
Prepared by: Sarah Monnastes, Human Resources Director

EXECUTIVE SUMMARY:

New City of Dublin staff members, Lacey Bockhaus, Digital Communications Technician with the City Manager’s Office, and Christina Brekelmans, Recreation Coordinator with Parks and Community Services, will be introduced.

STAFF RECOMMENDATION:

Welcome the new City of Dublin staff members.

FINANCIAL IMPACT:

None.

DESCRIPTION:

STRATEGIC PLAN INITIATIVE:

None.

NOTICING REQUIREMENTS/PUBLIC OUTREACH:

The City Council Agenda was posted.

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ATTACHMENTS:

None.

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Agenda Item 5.1

EXECUTIVE SUMMARY:

The City Council will consider approving the minutes of the September 2, 2025 Regular City Council Meeting.

STAFF RECOMMENDATION:

Approve the minutes of the September 2, 2025 Regular City Council Meeting.

FINANCIAL IMPACT:

None.

DESCRIPTION:

The City Council will consider approving the minutes of the September 2, 2025 Regular City Council Meeting.

STRATEGIC PLAN INITIATIVE:

None.

NOTICING REQUIREMENTS/PUBLIC OUTREACH:

The City Council Agenda was posted.

ATTACHMENTS:

1) September 2, 2025 Regular City Council Meeting Minutes

DATE: September 16, 2025

TO: Honorable Mayor and City Councilmembers

FROM: Colleen Tribby, City Manager

SUBJECT:

Approval of September 2, 2025 Regular City Council Meeting Minutes Prepared by: Vanessa Rosales, CMC, Deputy City Clerk
12 MINUTES OF THE CITY COUNCIL

OF THE CITY OF DUBLIN

Regular Meeting: September 2, 2025

DUBLIN CITY COUNCIL MINUTES

REGULAR MEETING
September 2, 2025

The following are minutes of the actions taken by the City of Dublin City Council. A full video recording of the meeting with the agenda items indexed and time stamped is available on the City’s website at: https://dublin.ca.gov/ccmeetings

REGULAR MEETING 7:00 PM

A Regular Meeting of the Dublin City Council was held on Tuesday, September 2, 2025, in the Peter W. Snyder Council Chamber. The meeting was called to order at 7:00 PM, by Mayor Hu.

1) CALL TO ORDER

Attendee Name Status
Dr. Sherry Hu, Mayor Present
Kashef Qaadri, Vice Mayor Present
Jean Josey, Councilmember Present
Michael McCorriston, Councilmember Present
John Morada, Councilmember Present

2) PLEDGE OF ALLEGIANCE

3) PRESENTATIONS AND PROCLAMATIONS

3.1) Recognition of the Dublin Leprechauns

The City Council recognized the Dublin Leprechauns for their successful 2025 season and first round Pecos League playoff series win.

3.2)

Preview of Splatter 2025

The City Council received a presentation previewing Splatter 2025, taking place at Emerald Glen Park on September 13, 2025.

3.3)

Employee Introduction

New City of Dublin staff member, Jennifer Byous, Principal Planner with the Community Development Department was introduced.

Attachment 1
13 DUBLIN CITY COUNCIL MINUTES

REGULAR MEETING
September 2, 2025

4) PUBLIC COMMENT

Mike Grant provided public comment.

Jeanine Gillengerten provided public comment.

5) CONSENT CALENDAR

5.1) Approved the August 19, 2025, Regular City Council Meeting Minutes.

5.2) Adopted Resolution No. 75-25 titled, “Approving an Amendment to the Agreement Between the City of Dublin and the County of Alameda for Traffic Signal and Street Lighting Maintenance, and Real Estate Services.”

On a motion by Councilmember Josey, seconded by Vice Mayor Qaadri, and by unanimous vote, the City Council adopted the Consent Calendar items.

6) PUBLIC HEARING – None.

7) UNFINISHED BUSINESS – None.

8) NEW BUSINESS

8.1) Ballot Designation Guidelines for Local Elections

The City Council received a presentation on the Ballot Designation Guidelines for Local Elections that incorporate all applicable federal, state and local laws, regulations, and standards.

Mayor Hu opened the public comment period. Upon receiving no public comment, Mayor Hu closed the public comment period.

On a motion by Mayor Hu, seconded by Councilmember McCorriston, and by unanimous vote, the City Council adopted Resolution No. 76-25 titled, “Approving Ballot Designation Guidelines for Local Elections,” as amended to revise Category 4 in Exhibit A to reflect ‘titles for government offices are limited to titles for elected offices.’

RESULT: ADOPTED [UNANIMOUS]
MOVED BY: Jean Josey, Councilmember
SECOND: Kashef Qaadri, Vice Mayor
AYES: Hu, Josey, McCorriston, Qaadri, Morada
RESULT: ADOPTED [UNANIMOUS]
MOVED BY: Sherry Hu, Mayor
14 DUBLIN CITY COUNCIL MINUTES

REGULAR MEETING
September 2, 2025

8.2) Report on Red Light Camera Program

The City Council received a report on red light camera program.

Mike Grant provided a public comment.

By consensus, the City Council directed Staff to have Dublin Police Services continue to monitor traffic in the city and to come back with new data after the 2028 Local Roadway Safety Plan (LRSP).

8.3) Temporary Non-Commercial Signs Enforcement

The City Council received a report on the City’s regulation of political campaign signs and potential amendments to strengthen the enforcement of those regulations.

Mayor Hu opened the public comment period. Upon receiving no public comment, Mayor Hu closed the public comment period.

By consensus, the City Council directed Staff to implement the recommendation to adjust the sign display time limit, require a consent form for placement of signs on private property, and implement a sign retrieval fee, plus invoice for the fee regardless of whether the sign is collected.

9) CITY MANAGER AND CITY COUNCIL REPORTS

The City Council and Staff provided brief information-only reports, including committee reports and reports related to meetings attended at City expense (AB1234).

10) ADJOURNMENT

Mayor Hu adjourned the meeting at 9:57 PM.

Mayor
ATTEST:

City Clerk

SECOND: Michael McCorriston, Councilmember
AYES: Hu, Josey, McCorriston, Qaadri, Morada
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Agenda Item 5.2
DATE: September 16, 2025

TO: Honorable Mayor and City Councilmembers

FROM: Colleen Tribby, City Manager

SUBJECT:

Authorizing the Enforcement of the California Vehicle Code Within the Wallis Ranch Subdivision and Approving an Agreement for Traffic Enforcement Services
Prepared by: Miguel Campos, Captain Dublin Police Services

EXECUTIVE SUMMARY:

The City Council will consider entering into another agreement for Dublin Police Services to provide traffic enforcement within the Wallis Ranch subdivision.

STAFF RECOMMENDATION:

FINANCIAL IMPACT:

All costs associated with the provision of traffic enforcement to the Wallis Ranch subdivision will be reimbursed by the Wallis Ranch Homeowner’s Association, per the agreement.

DESCRIPTION:

California Vehicle Code Sections 21107.5 and 21107.7 allow for law enforcement officers to enforce speed limits on private roads if certain procedures are followed by the road owners and the enforcing agency and certain conditions are met.

On June 20, 2023, City Council adopted Resolution 77-23, to authorize enforcement of the California Vehicle Code to privately owned roads within the Wallis Ranch subdivision and approve an agreement with the Wallis Ranch Homeowner’s Association for the provision of Traffic Enforcement Services. Wallis Ranch Homeowner’s Association would like to continue these until July 31, 2027.

Consistent with the previous agreement, Dublin Police Services will provide two officers, each 16

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for four hours per week, providing enforcement services specifically for the Wallis Ranch subdivision. The officers will be under the direction of the Dublin Police Services Captain.

STRATEGIC PLAN INITIATIVE:

None.

NOTICING REQUIREMENTS/PUBLIC OUTREACH:

The City Council Agenda was posted.

ATTACHMENTS:

1) Resolution Authorizing Enforcement of the California Vehicle Code to Privately Owned Roads Within the Wallis Ranch Subdivision and Approving an Agreement with the Wallis Ranch Homeowner’s Association for the Provision of Traffic Enforcement Services 2) Exhibit A to the Resolution – Agreement Between the City of Dublin and Wallis Ranch Homeowner’s Association Regarding Enhanced Police Services

17 Attachment 1
Reso. No. XX-25, Item X.X, Adopted XX/XX/2025 Page 1 of 2 RESOLUTION NO. XX – 25

A RESOLUTION OF THE CITY COUNCIL

OF THE CITY OF DUBLIN

AUTHORIZING ENFORCEMENT OF THE CALIFORNIA VEHICLE CODE TO PRIVATELY

OWNED ROADS WITHIN THE WALLIS RANCH SUBDIVISION AND APPROVING AN AGREEMENT WITH THE WALLIS RANCH HOMEOWNER’S ASSOCIATION FOR THE

PROVISION OF TRAFFIC ENFORCEMENT SERVICES

WHEREAS, California Vehicle Code Section 21107.7 allows a city to authorize that provisions of the California Vehicle Code be enforced on privately owned and maintained roads near or connected to public highways; and

WHEREAS, the roads within the subdivision known as Wallis Ranch are to be privately owned and maintained by the Wallis Ranch Homeowner’s Association (the “Association”); and

WHEREAS, a public hearing was held and City Council approved Resolution 77 -23 on June 20, 2023, to authorize enforcement of the California Vehicle Code to privately owned roads within the Wallis Ranch subdivision and approving an agreement with the Wallis Ranch Homeowner’s Association for the provision of Traffic Enforcement Services; and

WHEREAS, Wallis Ranch Homeowner ’s Association wishes to continue authorizing enforcement of the California Vehicle Code on privately owned roads within the Wallis Ranch Subdivision; and

WHEREAS, the City has prepared an agreement for Dublin Police Services to provide traffic enforcement services to Wallis Ranch subdivision, whereby the City will be reimbursed for all costs associated with the provision of such services.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does hereby:

1) find and declare that the aforementioned privately owned and maintained roads are not generally held open for use of the public for pur poses of vehicular travel but, by reason of their proximity to or connection with highways, the interests of any residents residing along the roads and the motoring public will best be served by application of the provisions of the California Vehicle Code to those roads; and

2) approve the agreement attached hereto as Exhibit A for the City, via Dublin Police Services, to provide traffic enforcement services to the Wallis Ranch subdivision.

BE IT FURTHER RESOLVED that the City Council approves delegation of the authority to the City Manager to approve future agreements that are not inconsistent with the attached agreement, other than increases in the rates.

18 Reso. No. XX-25, Item X.X, Adopted XX/XX/2025 Page 2 of 2 BE IT FURTHER RESOLVED that the City Manager is authorized to execute agreement, attached hereto as Exhibit A, and make any necessary, non -substantive changes to carry out the intent of this Resolution.

PASSED, APPROVED AND ADOPTED this 16th day of September 2025, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

______________________________
Mayor
ATTEST:

_________________________________
City Clerk

19 AGREEMENT BETWEEN THE CITY OF DUBLIN AND

WALLIS RANCH HOMEOWNER'S ASSOCIATION REGARDING

ENHANCED POLICE SERVICES
Attachment 2
This agreement is made and entered into between the City OF DUBLIN (the "City") and WALLIS RANCH HOMEOWNER'S ASSOCIATION (the "Association") (individually "Party" and collectively "Parties") as of August 1, 2025 (the "Effective Date") regarding enhanced police services ("Agreement").

RECITALS
WHEREAS, the Association wishes to receive enhanced police protection services from the City through the assignment of two (2) sworn Dublin Police Officers to patrol and enforce moving vehicle violations pursuant to the California Vehicle Code and Dublin Municipal Code on Association-owned streets; and
WHEREAS, in recognition of the expense to the City of permitting two (2) Officers to provide such enhanced police protection services, the Association will remit the cost for such services by paying the City the Officers' hourly rate as set forth herein, not to exceed four (4) hours per week per Officer.

The Parties agree and acknowledge that these services are not provided for profit, and neither Party expects or anticipates that the City will realize any profit or direct financial benefit as a result of this Agreement; and
WHEREAS, the City will provide enhanced police protection services pursuant to the terms and conditions of this Agreement provided that such services do not:
(A) Impair or interfere with the City's ability to meet its other law enforcement responsibilities; and
(B) Result in any City loss of operational efficiency or readiness.

NOW, THEREFORE, in consideration of the foregoing Recitals, which are true and correct and incorporated herein, and the promises, agreements, representations, and acknowledgments contained in this Agreement and all the Exhibits hereto, ii is mutually agreed as follows:

1. Term of the Agreement
The term of Agreement shall commence on the Effective Date and conclude on July 31, 2027, unless the term of the Agreement is otherwise terminated as provided for in Section 6.

2. Scope of Services to be Provided by the City to the Association

2.1. The City, through Dublin Police Services, agrees to supply two (2) Dublin Police Officers for enhanced police services to patrol and enforce moving vehicle violations pursuant to the California Vehicle Code and Dublin Municipal Code on Association-owned streets as authorized by law for the benefit of the general public for no more than four (4) hours per week per Officer ("Resource Officer"). The Resource Officers shall perform tne services provided for in Exhibit A attached hereto and incorporated by this reference.

2.2. The Association
shall coordinate the services needed through the Captain of Dublin Police 1 Exhbitit A to the Resolution
20 21
22 23
24 25
26 27
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Agenda Item 5.3
DATE: September 16, 2025

TO: Honorable Mayor and City Councilmembers

FROM: Colleen Tribby, City Manager

SUBJECT:

Fourth Amendment to the Land Lease with U.S. Bank National Association Prepared by: Jordan Foss, Senior Management Analyst

EXECUTIVE SUMMARY:

The City Council will consider a Fourth Amendment to the Land Lease between the City of Dublin and U.S. Bank National Association.

STAFF RECOMMENDATION:

Adopt the Resolution Approving the Fourth Amendment to the Land Lease Between the City of Dublin and U.S. Bank National Association.

FINANCIAL IMPACT:

The Lease Amendment will provide the City with rental income for the lease term in the amount of $119,040 for the first year, with subsequent annual adjustments of 1% on November 1 of each year. Staff recommends that all future lease revenue be deposited in a General Fund assigned reserve to fund any future desired building improvements.

DESCRIPTION:

In May 2007, the City acquired fee title to the real property formerly known as the Dublin Square Shopping Center located at 11759 Dublin Boulevard (APN 941-1560-007-01) from Berkeley Land Company through a Purchase and Sale Agreement. The City acquired the property for the development of Dublin Heritage Park and Museums.

By acquiring the property, the City then became the landlord for U.S. Bank’s Land Lease dated April 14, 1967, and Lease Amendment dated May 9, 1990. Since then, the City has executed two further amendments to extend the term and update the rental rate on December 18, 2007, and July 22, 2019. The current lease amendment is set to expire on October 31, 2027.

At this time, the City and U.S. Bank National Association (as tenant) desire to amend the lease to extend the term by five years and adjust the rent to include an annual escalator. 29

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Furthermore, Staff recommends that all lease revenue continue to be deposited in a General Fund assigned reserve to fund building improvements when the City assumes the building.

STRATEGIC PLAN INITIATIVE:

None.

NOTICING REQUIREMENTS/PUBLIC OUTREACH:

The City Council Agenda was posted.

ATTACHMENTS:

1) Resolution Approving the Fourth Amendment to the Land Lease Between the City of Dublin and U.S. Bank National Association
2) Exhibit A to the Resolution - Fourth Amendment to the Land Lease Between the City of Dublin and U.S. Bank National Association

30 Attachment 1
Reso. No. XX-25, Item X.X, Adopted 09/16/2025 Page 1 of 1 RESOLUTION NO. XX – 25

A RESOLUTION OF THE CITY COUNCIL

OF THE CITY OF DUBLIN

APPROVING THE FOURTH AMENDMENT TO THE LAND LEASE BETWEEN THE CITY OF DUBLIN AND U.S. BANK NATIONAL ASSOCIATION

WHEREAS, in May 2007 the City acquired the property formerly known as the Dublin Square Shopping Center, located at 11759 Dublin Boulevard (APN 941 -1560-007-01) for the development of Dublin Heritage Park and Museums; and

WHEREAS, by acquiring the property, the City became the landlord of U.S. Bank National Association’s Land Lease dated April 14, 1967, which was subsequently amended on May 9, 1990, December 18, 2007, and July 19, 2022; and

WHEREAS, the term of the current lease amendment is set to expire on October 31, 2027 and the City and U.S. Bank National Association desire to amend the original Land Lease to extend the lease term by five years and adjust the rent to include an annual 1% escalator; and

WHEREAS, the City and U.S. Bank National Association have negotiated a Fourth Amendment to the Land Lease, attached hereto as Exhibit A.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does hereby approve the Fourth Amendment to the Land Lease between the City of Dublin and U.S.

Bank National Association.

BE IT FURTHER RESOLVED that the City Manager is authorized to execute the Fourth Amendment to the Land Lease , attached hereto as Exhibit A, and make any necessary, non - substantive changes to carry out the intent of this Resolution.

PASSED, APPROVED AND ADOPTED this 16th day of September 2025, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

______________________________
Mayor
ATTEST:

_________________________________
City Clerk
31 Fourth Amendment to Land Lease November 1, 2027
Between the City of Dublin and U.S. National Bank Assoc. Page 1 of 5

FOURTH AMENDMENT TO LAND LEASE
THIS FOURTH AMENDMENT TO LAND LEASE (this “Amendment”) is made effective as of _______________________________ (the “Effective Date”), by and between the City of Dublin , a California Municipal Government (“Lessor”), and U.S. Bank National Association , a national banking association (“Lessee”).

RECITALS
A. Berkel
ey Land Company (“Original Lessor”) and First National Bank of Pleasanton (“Original Lessee”) entered into that certain Land Lease dated as of April 14, 1967 (the “Original Land Lease”), under which Original Lessor leased to Original Lessee, the real property located at the address commonly known as 11805 Dublin Boulevard, Dublin, California (APN 941-1560-007-01) and legally described in the Original Lease (the “Premises”). The Original Land Lease was subsequently extended by letter dated December 5, 1986.

B. Original Lessor and Community First National Bank, as successor-in-interest to Original Lessee, entered into that certain Lease Amendment dated as of May 9, 1990 (the “First Amendment”).

C. Lessor succeed
ed to the interest of Original Lessor pursuant to that certain Assignment and Assumption of Leases dated May 9, 2007, under which Lessor acquired all of Original Lessor’s right, title and interest in, to and under the Original Lease, as amended.

D. Lessor and Lessee subsequently entered into that certain Second Amendment to Land Lease dated as of December 18, 2007 (the “Second Amendment”).

E. Lessor an
d Lessee subsequently entered into the Third Amendment to Land Lease dated as of July 19, 2022 (the “Third Amendment”).

F. The Orig
inal Lease, the First Amendment, Second Amendment, and Third Amendment shall hereinafter be collectively referred to as the “Lease”.

G. The term of the Lease is set to expire on October 31, 2027, and Lessor and Lessee desire to amend the Leas
e to alter certain provisions thereof upon the terms and conditions set forth below.

NOW, THEREFORE, for valuable considerations, the receipt and sufficiency of which is hereby acknowle
dged, Lessor and Lessee agree as follows.

1. Term. The term of this Lease shall be extended for an additional period of five (5) years commencing on November 1, 2027 and expiring on October 31, 2032 (the “Extended Term”). Lessee is to provide Lessor with at least twenty-four (24) months written notice inquiring about any future term extension.

The Lessor will be required to respond in writing within sixty (60) days of receiving the written notice from the Lessee with either: (i) Lessor’s rejection of any further extension of the Term, or (ii) the terms on which Lessor will agree to extend the Term of the Lease. If Lessee accepts such terms, within 60 days following such written notification of Lessee’s acceptance, the parties shall memorialize such extension of the Lease in a written amendment to the Lease.

Attachment 2
Exhibit A to Resolution
32 Fourth Amendment to Land Lease November 1, 2027
Between the City of Dublin and U.S. National Bank Assoc. Page 2 of 5

2. Rent. Commencing on November 1, 2027, Lessee shall pay to Lessor annual rent in the amount of One Hundred Nineteen Thousand Forty and 00/100 Dollars ($119,040.00) in advance in equal monthly installments of Nine Thousand Nine Hundred Twenty and 00/100 Dollars ($9,920.00).

Beginning on November 1, 2028, and on each subsequent anniversary of this date, the annual rent shall increase by one percent (1%) of the previous year’s annual rent.

3. Directional Signage. U.S. Bank shall have the right, at its sole cost and expense, to install directional signage on the Premises for purposes of directing the flow of traffic to, from and within the Premises.

4. Surrender. The parties deem Lessee to be the owner of the approximately 3,100 square foot building and improvements located on the Premises (the “Improvements”) so long as the Lease remains in effect. Upon expiration of this Lease, Lessee shall surrender the Premises to Lessor and leave any Improvements in their as-is, where-is condition. Lessee, at its sole cost and expense, shall remove Lessee’s signs, including directional signage, furniture, equipment (other than building service equipment, such as HVAC equipment), appliances, trade fixtures, personal property and inventory at the expiration of the Lease Term. The Improvements and the appurtenances thereto remaining upon the Premises after surrender thereof shall automatically become the property of the Lessor from and after the expiration of the Lease term. Upon the expiration of this Lease, or the sooner termination thereof, upon Lessor’s written request, Lessee agrees to execute, acknowledge, and deliver to Lessor a proper instrument in writing drafted by Lessor, at its sole expense, releasing, and quitclaiming to Lessor all right, title, and interest of Lessee in and to the Premises and all improvements thereon. Notwithstanding anything herein to the contrary, Lessor must provide Lessee with written notice of any claim or demand relating to this Section or the surrender condition of the Premises on or before the thirtieth (30
th) day after the earlier of the day on which (i) Lessee surrenders the Premises to Lessor, or (ii) the Lease term expires or the Lease otherwise terminates.

If Lessor fails to provide such notice, Lessor shall be deemed to have waived all claims against Lessee for any damages that arise out of or money owed as a result of Lessee’s surrender of the Premises. Nothing by way of this section is intended to relieve Lessee of its obligation to surrender the Premises at the expiration of the Lease Term. This Section 4, is intended to, and expressly does, replace and supersede Section 10, Option to Purchase Building of the Original Land Lease.

5. Operating. Notwithstanding anything to the contrary contained in the Lease, Lessee shall not be required to operate at the Premises and shall not be subject to any operating restrictions within any distance or geographic area surrounding the Premises.

6. Self-Insurance. Notwithstanding anything to the contrary contained in the Lease, Lessee shall have the right to self-insure, in whole or in part, for any insurance requirement contained in the Lease.

7. Confidentiality. Lessor acknowledges that Lessee is a feder ally regulated financial institution that must comply with the safeguards for customer information contained in the Gramm-Leach-Bliley Act and regulations promul gated pursuant to the Gramm-Leach-Blile y Act. Lessee agrees to take reasonable measures to protect its confidential and proprietary information, including but not limited to Lessee’s customer, commercial or technical information (collectively, “Confidential Information”). 33 Fourth Amendment to Land Lease November 1, 2027
Between the City of Dublin and U.S. National Bank Assoc. Page 3 of 5 In certain situations contemplated under this Lease, Lessor may have access to the Premises and, therefore, to Lessee’s Confidential Information. Lessor hereby agrees that it shall not reproduce or disclose any of Lessee’s Confidential Information to any third party nor may it remove any such Confidential Information from the Premises. Notwithstanding anything to the contrary in this Lease, upon expiration of this Lease, if any Confidential Information remains on the Premises, Lessor shall either return the same to Lessee or destroy it. If Lessor or any of its representatives or agents breaches the covenants set forth in this paragraph, irreparable injury may result to Lessee or such third parties entrusting Confidential Information to Lessee. Therefore, Lessee’s remedies at law may be inadequate and Lessee shall be entitled to seek an injunction to restrain any continuing breach.

If Lessor or any of its agents knows or reasonably believes that any Confidential Information in Lessor’s control has been stolen, disclosed, lost, or is unaccounted for (collectively, a “Disclosure”), Lessor must immediately notify Lessee and take commercially reasonable measures to assist Lessee in determining the extent of the Disclosure.

8. Authority. Lessor and Lessee represent and warrant that each has all the necessary approvals and authority to enter into this Lease and shall indemnify and hold each other harmless for any breach of this representation and warranty.

9. No Existing Defaults. Lessor and Lessee represent and warrant that there are currently no defaults by either party under the Lease.

10. Notices. Any notices to Lessor and/or Lessee under this Lease must be in writing and must be hand- delivered, sent by prepaid certified mail or by reputable overnight courier addressed to the following, all other notice requests shall remain as stated herein:

Lessee: U.S. Bank National Association
Attn: Corporate Real Estate
800 Nicollet Mall, BC-MN-H15F
Minneapolis, Minnesota 55402

With a copy to: U.S. Bank National Association
800 Nicollet Mall, BC-MN-H21R
Minneapolis, Minnesota 55402
Attn: Corporate Real Estate Counsel

Lessor: City of Dublin
100 Civic Plaza
Dublin, California 94568
Attn: Colleen Tribby, City Manager

With a copy to: Redwood Public Law, LLP
409 13
th Street, Suite 600
Oakland, California 94612
Attn: John D. Bakker, City Attorney

11. Counterparts and Electronic Signatures. This Agreement may be executed in multiple counterparts, each of which shall be an original a nd all of which together shall constitute one 34 Fourth Amendment to Land Lease November 1, 2027
Between the City of Dublin and U.S. National Bank Assoc. Page 4 of 5 agreement. Counterparts delivered and/or signatures executed by City-approved electronic or digital means shall have the same force and effect as the use of a manual signature. Either Party may revoke its agreement to use electronic signatures at any time by giving notice to the other Party.

12. Ratification. All of the terms of the Lease, as amended hereby, are hereby ratified and confirmed.

13. Defined Terms. Unless otherwise stated, all capitalized words in this Amendment that are not normally capitalized shall have the meaning ascribed in the Lease.

14. Entire Agreement . This Amendment, together with the Original Land Lease contains the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior oral or written agreements between the Parties with respect thereto.

[Space Intentionally Left Blank; Signature Page Follows]

35 Fourth Amendment to Land Lease November 1, 2027
Between the City of Dublin and U.S. National Bank Assoc. Page 5 of 5 IN WITNESS WHEREOF, LESSOR AND LESSEE have executed this Amendment on the date first above written.

LESSOR: LESSEE:

CITY OF DUBLIN, U.S. BANK NATIONAL ASSOCIATION,
A California Municipal Government a national banking association

By: Colleen Tribby By: _______________________________________ Its: City Manager Its: _______________________________________ Attest:

Marsha Moore, City Clerk
Approved as to Form:

City Attorney
Digitally signed
by Brian Collins
Date: 2025.08.19
12:53:49 -04'00'
36 STAFF REPORT

CITY COUNCIL

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Agenda Item 5.4
DATE: September 16, 2025

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 August 1, 2025 – August 31, 2025, totaling $24,541,574.76.

STAFF RECOMMENDATION:

Receive the report.

FINANCIAL IMPACT:

Summary of Payments Issued
Report Period: August 1, 2025 – August 31, 2025
Total Number of Payments: 371
Total Amount of Payments: $24,541,574.76

DESCRIPTION:

The Payment Issuance Report (Attachment 1) provides a listing of all payments for the period beginning August 1, 2025, through August 31, 2025. 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.

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STRATEGIC PLAN INITIATIVE:

None

NOTICING REQUIREMENTS/PUBLIC OUTREACH:

The City Council Agenda was posted.

ATTACHMENTS:

1) Payment Issuance Report for August 2025

38 Date Issued
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EMPLOYMENT DEVELOPMENT DEPT CA STATE WITHHOLDING: PE 7/25/25 25,308.77 HEALTHEQUITY, INC. HEALTHEQUITY: PE 7/25/2025 4,009.14
City of Dublin
Payment Issuance Report
Print Date: 9/2/2025
Payments Dated 8/1/2025 through 8/31/2025

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Payee Description Amount
4LEAF INC. DEVELOPMENT AND PERMITS PLAN REVIEW JUN 2025 3,952.50 US BANK - PARS PARS: PE 7/25/2025 10,728.55
Payments Issued 8/1/2025 Total: 75,532.68
I C M A 401 PLAN DEFERRED COMP 401: PE 7/25/2025 1,480.09 I C M A 457 PLAN DEFERRED COMP 457: PE 7/25/25 34,006.13 ADITYA T. BABU CLUB V.I.P. VOLLEYBALL REC CLASS INSTRUCTOR 2,236.80 ABDALIAN PIANO SERVICE PIANO TUNING SERVICES - SHANNON COMMUNITY CENTER 240.00 ACTIVE NETWORKS, LLC ACTIVENET ANNUAL SUBSCRIPTION 7/01/25 - 6/30/26 58,476.60 4LEAF INC. DEVELOPMENT AND PERMITS PLAN REVIEW MAY 2025 340.00 A4 PROMOTIONS & INCENTIVES PRINTING SERVICES - PCS SUMMER CONCERTS SIGNAGE 679.00 ALAMEDA CO SURPLUS PROP AUTHOR BART GARAGE FEES COLLECTED 122,540.72 ALAMEDA COUNTY ENVIRONMENTAL HEALTH ALCO HEALTH PERMIT FIRE STATION #16 AUG 2025 852.00 ALAMEDA CO SHERIFF'S OFFICE EVIDENCE - ENVELOPES 77.45
ALAMEDA CO SHERIFF'S OFFICE CPU - EXPLORER ACADEMY GRAD PAMPHLETS 60.68 AKSHAY ARORA ARORA TENNIS & FITNESS ACADEMY REC CLASS INSTRUCTOR 8,330.00 ALAMEDA CO SHERIFF'S OFFICE DPS BUSINESS CARDS 33.12
ALAMEDA COUNTY FLOOD CONTROL PERMITS & TRACTS Q4 FY24/25 229,318.65 ALL CITY MANAGEMENT SVCS INC CROSSING GUARD SERVICES - SUMMER SCHOOL JUL 2025 893.40 ALAMEDA COUNTY FIRE DEPARTMENT FIRE SERVICES FY24-25 JUN 2025 1,302,754.00 ALAMEDA COUNTY FLOOD CONTROL LIVING ARROYOS PROGRAM JAN-JUN 2025 7,188.37 ALAMEDA COUNTY ENVIRONMENTAL HEALTH ALCO HEALTH PERMIT HMBP WAVE AUG 2025 852.00 ALAMEDA COUNTY FIRE DEPARTMENT FIRE SERVICES FY25-26 AUG 2025 1,578,858.83 AT&T CVC AT&T IPFLEX VOIP LINE 07/7-8/6/25 35.00
AT&T - CALNET 3 SERVICE TO WAVE 07/12/2025 121.65
ANDREW CANNIZZARO PCS CLASS WITHDRAWN REFUND 108.00
APEX GRADING SCHAEFER RANCH GHAD - MAINTENANCE SERVICES 17,000.00 AMARANTH MURKI DEVELOPER DEPOSIT (DV0347) BALANCE REFUND 4,615.80 AMERICAN REALTY ADVISORS DEVELOPER DEPOSIT (DV0097) BALANCE REFUND 1,321.74 AT&T - CALNET 3 SERVICE TO CY 07/14/2025 61.61
AT&T - CALNET 3 SERVICE TO CY FAX 07/14/2025 31.58
AT&T - CALNET 3 SERVICE TO SR ALARM 07/12/2025 215.76
AT&T - CALNET 3 SERVICE TO LIBRARY 911 07/14/2025 31.58 AT&T - CALNET 3 SERVICE TO 800 07/12/2025 0.01
AT&T - CALNET 3 SERVICE TO SHANNON 07/12/2025 271.76
AT&T - CALNET 3 SERVICE TO ELEVATOR 07/14/2025 91.63
AT&T - CALNET 3 SERVICE TO HERITAGE CTR BK UP 07/06/2025 66.67 AT&T - CALNET 3 SERVICE TO FS18 07/14/2025 91.63
AT&T - CALNET 3 SERVICE TO CY 7/14/2025 236.58
AT&T - CALNET 3 SERVICE TO PSC FIRE ALARM 07/14/2025 61.61 AT&T - CALNET 3 SERVICE TO FSP FAX 07/14/2025 61.61
AXIS COMMUNITY HEALTH HUMAN SRVS ENROLLMENT SPECIALIST GRANT JAN-JUN 2025 3,364.77 BAY AREA NEWS GROUP EAST BAY LEGAL NOTICES - JUL 2025 277.44 AT&T - CALNET 3 SERVICE TO PSC 07/01/2025 121.65
AT&T MOBILITY/ERICSSON,LLC DEVELOPER DEPOSIT (DV0088) BALANCE REFUND 790.50 AT&T - CALNET 3 HERITAGE 9391018979 07/14/2025 31.58
AT&T - CALNET 3 SHANNON CENTER ALARM 93910633 07/12/2025 31.58 BKF ENGINEERS TASSAJARA ROAD GAP CLOSURE PROJECT APR 2025 3,770.00 BPXPRESS IRRIGATION SYST UPGRADE PRODJ - PLAN ROOM MGMT BID PERIOD 429.25 BKF ENGINEERS TASSAJARA ROAD GAP CLOSURE PROJECT JUN 2025 13,455.59 BKF ENGINEERS TASSAJARA ROAD GAP CLOSURE PROJECT MAY 2025 552,596.20 BEST LOCKERS, LLC LOCKER SERVICE AND SOFTWARE FEE 6,780.06 BIG O'TIRES #7 POLICE VEHICLE MAINTENANCE & REPAIRS 1,876.64 BSK ASSOCIATES INC. WALLIS RANCH GEOTECH SRVS FOR SOIL CLASSIFICATION JUN 2025 1,625.25 CALIFORNIA BUILDING STANDARDS COMMISSION JAN-MAR 2025 GREEN FEES 4,206.60 BROOKFIELD BAY AREA HOLDINGS DEVELOPER DEPOSIT (DV0241) BALANCE REFUND 662.59 BSK ASSOCIATES INC. JORDAN RNCH SQ GEOTECH SRVS DURING DESIGN JUN 2025 2,176.50 BRIDGE WIRELESS WAVE WATERPARK HANDHELD RADIOS 4,712.67 BROOKFIELD BAY AREA HOLDINGS DEVELOPER DEPOSIT (DV0239) BALANCE REFUND 746.24 CALLANDER ASSOCIATES INC. MAPE PARK PATHWAY RELO DESIGN SUPPORT JUN 2025 545.66 CALLANDER ASSOCIATES INC. WALLIS RANCH COMM. PARK CONSTRUCTION ADMIN SERVICES JUN 2025 3,234.97 CALIFORNIA BUILDING STANDARDS COMMISSION APR-JUN 2025 GREEN FEES 2,686.50 CALIFORNIA SPIRIT ELITE, INC. REC CLASS INSTRUCTOR 2,520.00 CHRISTINE PETIT REC CLASS INSTRUCTOR 3,636.00
CDW GOVERNMENT INC CISCO CATALYST 9200CX NETWORK SWITCH - FALLON PARK BOOTH 1,375.04 CHRISP COMPANY ON-CALL STRIPING AND MARKING APR 2025 6,751.93 CASCADIA CONSULTING GROUP, INC SB 1383 IMPLEMENTATION ASSISTANCE JUN 2025 816.25 CDW GOVERNMENT INC PWK - CDW CORP YARD ADDITIONAL AV EQUIPMENT 631.78 5,508.16
CLEARGOV INC. CLEARGOV CAPITAL BUDGETING & RENEWAL 19,000.00 COMCAST COMCAST TV - AV TV30 ROOM 7/18-8/17/25 119.98
CITYSERVE OF THE TRI-VALLEY HUMAN SRVS HOMELESS PREVENTION JAN-JUN 2025 11,500.00 CITYSERVE OF THE TRI-VALLEY HUMAN SRVS SENIOR STABILIZATION PROG JAN-JUN 2025 7,920.70 CITY OF PLEASANTON FREEWAY INTERCHANGE DEBT PYMT APR - JUN 2025 24,086.36 CONSOR NORTH AMERICA, INC. BRIDGE INSPECTION JUN 2025 9,857.25 CINTAS CORPORATION NO.2 DPS FIRST AID RESTOCK - JUL 2025 161.42 CONSOR NORTH AMERICA, INC. DEVELOPMENT MAP REVIEW JUN 2025 764.00 CONSOR NORTH AMERICA, INC. KOOPMAN CANYON CREEK CHANNEL & BANK REPAIR CM JAN 2025 11,125.75 CONSOR NORTH AMERICA, INC. BRIDGE INSPECTION MAY 2025 1,146.00 CONSOLIDATED ENGINEERING DCAC SPECIAL INSPECTION & TESTING JUN 2025 1,285.24 CONSOLIDATED ENGINEERING 2025 ANNUAL STREET RESURFACING JUN 2025 Attachment 1
39 City of Dublin
Payment Issuance Report
Print Date: 9/2/2025
Payments Dated 8/1/2025 through 8/31/2025

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CSW/STUBER-STROEH ENGINEERING GROUP, INC. VILLAGE PARKWAY RECONSTRUCTION-DESIGN SVCS JUN 2025 24,019.14 CSW/STUBER-STROEH ENGINEERING GROUP, INC. STORMWATER BUSINESS INSPECTIONS APR 2025 9,351.50 COULSON & ASSOCIATES JORDAN RANCH NEIGHBORHOOD SQUARE FEB 2025 285.00 CSW/STUBER-STROEH ENGINEERING GROUP, INC. VILLAGE PARKWAY RECONSTRUCTION-DESIGN SVCS MAY 2025 47,972.73 CONTRA COSTA CO.-PUBLIC WORKS DESIGN ENVIRO SVCS-TASSAJARA RD REALIGNMENT APR-JUN 2025 4,667.09 COULSON & ASSOCIATES JORDAN RANCH NEIGHBORHOOD SQUARE JAN 2025 332.50 CSW/STUBER-STROEH ENGINEERING GROUP, INC. STORMWATER BUSINESS INSPECTIONS JUN 2025 10,646.50 DAVID L. GATES & ASSOCIATES, INC. IRRIGATION UPGRADES MAY 2025 2,330.00 CSW/STUBER-STROEH ENGINEERING GROUP, INC. STORMWATER BUSINESS INSPECTIONS MAY 2025 17,996.50 DEPT OF CONSERVATION DIV OF ADMIN SVCS AC APR-JUN 2025 SMIP FEES 9,149.20 DIV OF THE STATE ARCHITECT JAN-MAR 2025 CASP FEE 128.00 DEPARTMENT OF JUSTICE ACCTNG OFFICE-CASHIERING UNI LIVESCAN FEES - JUNE 2025 371.00 DEPT OF CONSERVATION DIV OF ADMIN SVCS AC JAN-MAR 2025 SMIP FEES 19,947.15 DAVID L. GATES & ASSOCIATES, INC. IRRIGATION UPGRADES JUN 2025 60.00 DC ELECTRIC GROUP INC. HYDROGEN FUEL CELL MAINT.-TRAFFIC SIGNAL BACKUP MAY 2025 2,237.42 DSRSD DEVELOPER DEPOSIT (DV0330) BALANCE REFUND 589.77
EAST BAY POOL SERVICE, INC. POOL MAINTENANCE 19,020.97
DREAM RIDE ELEVATOR ELEVATOR MAINTENANCE JUL 2025 564.00 DSRSD DEVELOPER DEPOSIT (DV0278) BALANCE REFUND 4,841.50 DIV OF THE STATE ARCHITECT APR-JUN 2025 CASP FEE 109.20 DOROTHY DEMONTEVERDE REC CLASS INSTRUCTOR 495.00
ENTERPRISE RENT A CAR EAN SERVICES, LLC RENTAL CARS FOR DPS SIU 2,389.15 EASTERSEALS NORTHERN CA HUMAN SRVS KALEIDOSCOPE COMM ADULT PROG JAN-JUN 25 7,000.00 ENGEO INC FALLON VILLAGE-GHAD CONSULTING STAFF SVCS JUN 2025 10,801.83 ENGEO INC SCHAEFER RANCH-GHAD CONSULTING STAFF SVCS JUN 2025 9,711.34 ELLIOT CONSTRUCTION DEVELOPER DEPOSIT (DV0390) BALANCE REFUND 2,014.06 ENGEO INC FALLONCROSSING-GHAD CONSULTING STAFF SVCS JUN 2025 4,275.33 EUROPEAN MOBILE WERKS POLICE VEHICLE MAINTENANCE & REPAIRS 1,984.28 EVERYTHING GROWS INTERIOR LANDSCAPING INTERIOR PLANT CARE & MAINT. - AUG 2025 250.36 FAST TIMES SUMMER CONCERT SERIES BAND 2,500.00
EVERYTHING GROWS INTERIOR LANDSCAPING INTERIOR PLANT CARE & MAINT. - JUL 2025 250.36 GFT INFRASTRUCTURE, INC. IRON HORSE NATURE PARK & OPEN SPACE PHASE 1 JUN 2025 42,660.66 GFT INFRASTRUCTURE, INC. 2025 SLURRY SEAL CM & INSP SERVICES JUN 2025 38,807.58 GFT INFRASTRUCTURE, INC. 2025 SLURRY SEAL CM & INSP SERVICES JUN 2025 41,583.32 GFT INFRASTRUCTURE, INC. IRON HORSE NATURE PARK & OPEN SPACE PHASE 1 MAY 2025 36,091.51 FRANCHISE TAX BOARD EMPLOYEE INCOME TAX EARNINGS WITHHOLDING 965.11 GFT INFRASTRUCTURE, INC. CM/PM SERVICES FOR WALLIS RANCH PARK JUN 2025 11,705.60 GUIDA ALAMO CREEK FENCE REPLACEMENT MAY 2025 12,235.00
GURUS EDUCATION EAST BAY REC CLASS INSTRUCTOR 3,087.00
GOODNESS VILLAGE HUMAN SRVS 2024-25 GOODNESS VILLAGE APR-JUN 2025 6,250.00 GROUP 4 ARCHITECTURE, RESEARCH + PLANNING, INC. DCAC DESIGN & CONSTRUCTION ADMIN SERVICES JUN 2025 44,385.61 GOLDEN STATE FLEET SVCS INC DPS - TOWING SERVICES 125.00 GOODNESS VILLAGE HUMAN SRVS 2024-25 GOODNESS VILLAGE JAN-MAR 2025 6,250.00 HINDERLITER, DE LLAMAS & ASSOC CODE REVISION BRIEF FOR THE CITY COUNCIL 5,880.00 HIVELY HUMAN SRVS 2024-25 ARPA–HIVELY FAM RSC CTR JAN-JUN 2025 7,158.34 HDL COREN & CONE PROPERTY TAX CONSULTING SVCS JUL - SEP 2025 2,127.84 HF&H CONSULTANTS, LLC SOLID WASTE FRANCHISE SUPPORT JUN 2025 6,415.00 HARRELL HARRIS PHOTOGRAPHY PHOTOGRAPHY SERVICES - WALLIS RANCH PRE-OPENING 600.00 JENNY CHAN STAGER GYM SECURITY DEPOSIT REFUND 500.00
JONH LE DEVELOPER DEPOSIT (DV0380) BALANCE REFUND 3,207.80 JAM SERVICES INC BATTERY BACK UP AND PEDESTRIAN PUSH BUTTON SPARES 35,092.58 JAY S. SIEGAN SUMMER CONCERTS ENTERTAINMENT 5,000.00
IRENE HSI PCS CLASS WITHDRAWN REFUND 315.00
ISH AMITOJ KAUR REC CLASS INSTRUCTOR 1,575.00
JPA LANDSCAPE & CONSTRUCTION, INC. BUSINESS LICENSE (BL-114967) ACCOUNT CREDIT REFUND 77.00 JUNGLE JAMES ANIMAL ADVENTURES REPTILE SHOW FOR FAMILY CAMPOUT 550.00 JOY LIU PHOTOGRAPHY SERVICES - PICNIC FLIX 310.00
JOY LIU PHOTOGRAPHY SERVICES - WEEKEND WONDERS 310.00
JOSEPH THOMAS WASHINGTON II PCS COMMISSION 7/21/25 50.00 JOY LIU PHOTOGRAPHY SERVICES - JULY 4TH 320.00
LEHR AUTO EMERGENCY EQUIPMENT FOR D12, D04, D02 25,424.92 LENNAR HOMES DEVELOPER DEPOSIT (DV0188) BALANCE REFUND 5,803.22 LEGAL ASSISTANCE FOR SENIORS HUMAN SRVS LEGAL ASSIST SENIORS APR-JUN 2025 7,011.09 LEGAL ASSISTANCE FOR SENIORS HUMAN SRVS LEGAL ASSIST SENIORS JAN-MAR 2025 286.79 KATHLEEN F RUSHING MUSIC FOR FAMILY CAMPOUT 400.00
LAW OFFICE OF MICHAEL KAY DEVELOPER DEPOSIT (DV0286) BALANCE REFUND 1,557.25 LIONS CENTER FOR THE VISUALLY IMPAIRED HUMAN SRVS - DUBLIN SENIORS VISION HEALTH JAN-JUN 2025 2,250.00 LIVERMORE-PLEASANTON UMPIRES ASSOCIATION SPORTS OFFICIATING SERVICES JUN 2025 5,840.00 LENNAR HOMES DEVELOPER DEPOSIT (DV0342) BALANCE REFUND 1,325.75 LIONS CENTER FOR THE VISUALLY IMPAIRED HUMAN SRVS - DUBLIN SENIORS VISION HEALTH JUL-DEC 2024 2,250.00 LENNAR HOMES DEVELOPER DEPOSIT (DV0190) BALANCE REFUND 16,334.71 LENNAR HOMES DEVELOPER DEPOSIT (DV0341) BALANCE REFUND 3,814.64 METRO SERVICES INC. ARMY 250TH BIRTHDAY CELEBRATION 420.00 MEYERS NAVE FALLON VILLAGE GHAD - LEGAL SERVICES JUN 2025 98.00 MCCI, LLC FINAL SERVICES-PROJECT GO LIVE 1,507.70
MCE CORPORATION MAINTENANCE SERVICES JUN 2025 1,552,642.09 MAGS ASSOCIATES LLC REC CLASS INSTRUCTOR 3,049.80
MARK THOMAS & COMPANY, INC. IRON HORSE TRAIL BRIDGE OVERCROSSING JUN 2025 2,034.09 NICHOLS CONSULTING ENGINEERS, CHTD ADDTNL DESIGN CONSTRUCTION SUPPORT SVCS JUN 2025 13,982.33 NORCAL RENTAL GROUP, LLC ST. PATS AND SPLATTER GOLF CART RENTALS 1,476.48 NARIKA HUMAN SERVICES 2024-25 DOMESTIC VIOLENCE NOV 2024-JUN 2025 5,000.00 NEIL SMITH SUMMER CONCERT ENTERTAINMENT 3,000.00
MINUTEMAN PRESS DUBLIN CENTRE PARK POSTCARDS 327.88
MINUTEMAN PRESS WALLIS RANCH COM. PARK GRAND OPENING POSTCARDS 327.88 40 City of Dublin
Payment Issuance Report
Print Date: 9/2/2025
Payments Dated 8/1/2025 through 8/31/2025

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PAGE & TURNBULL INC CAMP PARKS SIGN PROJECT CA AND CM SERVICES JUN 2025 7,596.00 PAKPOUR CONSULTING GROUP, INC. FALLON SPORTS PARK FLAGPOLE DESIGN & CM SUPPORT JUN 2025 575.00 OPEN HEART KITCHEN HUMAN SRVS SENIOR MEAL PROG JAN-MAR 2025 4,779.72 OPEN HEART KITCHEN HUMAN SRVS SENIOR MEAL PROG APR-JUN 2025 7,858.60 NOVANI, LLC. TRAFFIC OPERATING CENTER MAINTENANCE JUL-SEP 2025 3,000.00 NSA WIRELESS,INC. DEVELOPER DEPOSIT (DV0090) BALANCE REFUND 2,491.42 PG&E MAINTENANCE CORP YARD 06/29/2025 26.28
PG&E PASSATEMPO PARK 06/23/2025 95.44
PAVEMENT COATINGS CO. SLURRY SEAL CONSTRUCTION JUN 2025 1,213,757.62 PG&E ALAMO CREEK PARK 07/07/2025 125.31
PAKPOUR CONSULTING GROUP, INC. IRON HORSE TRAIL BRIDGE CM JUN 2025 2,990.00 PAKPOUR CONSULTING GROUP, INC. FOREST PARK - CONSTRUCTION MANAGEMENT SERV JUN 2025 30,096.88 PG&E DUBLIN SPORTS GROUND EV 06/11/2025 38.22
PG&E DUBLIN SPORTS GROUNDS 06/29/2025 774.39
PG&E SERVICE TO SHANNON CENTER 06/26/2025 24.65
PG&E SEAN DIAMOND PARK 06/25/2025 184.74
PG&E MAPE MEMORIAL PARK 06/26/2025 53.56
PG&E DOUGHERTY LMD 1986-1 06/30/2025 283.44
PG&E HERITAGE MUSEUMS 6/26/2025 4,006.25
PG&E LIBRARY 06/29/2025 327.01
PG&E POSITANO HILLS PARK 06/29/2025 156.00
PG&E TC1 SERVICE TO 6795 DOUGHERTY 07/01/2025 249.88
PG&E FIRE STATION 16 06/09/2025 12,120.83
PG&E SCHAEFER RANCH PARK 06/26/2025 456.52
PG&E THE WAVE 07/06/2025 34,636.68
PLAN JPA 2025/2026 MEMBER CONTRIBUTION - LIABILITY INSURANCE PREMIUM 2,868,787.00 PG&E B1 7341 ROSAMOND HILLS CT 07/06/2025 5.22
PG&E FIRE STATION 17 07/06/2025 206.32
PG&E CITY HALL 06/30/2025 4,704.43
PG&E SHANNON COMMUNITY CENTER 06/27/2025 159.28
QUENCH USA, INC. WATER SERVICES D073825 AUG 2025 929.06 QUENCH USA, INC. WATER SERVICES D073045 AUG 2025 634.15 PRITHVI BHAT DEVELOPER DEPOSIT (DV0387) BALANCE REFUND 751.40 QUALITY LOGO PRODUCTS, INC. WATERPARK OPERATIONS - MARKETING 4,969.40 PRADEEP ROUTRA PCS COMMISSION 7/21/25 50.00
PRIME TIME ENTERTAINMENT SUMMER CONCERT SERIES SOUND RENTAL 1,650.00 RICHARD THORNBURY PCS COMMISSION 7/21/25 50.00
RILEY WALTER TRAVEL REIMBURSEMENT MAY 2025 67.53
RAYNE OF SAN JOSE REVERSE OSMOSIS DRINKING WATER FS17 37.00 RAYNE OF SAN JOSE REVERSE OSMOSIS DRINKING WATER FS18 37.00 R. YOUNAN LLC REC CLASS INSTRUCTOR 4,930.20
RAYNE OF SAN JOSE REVERSE OSMOSIS DRINKING WATER FS16 37.00 RACHEAL MATHENY PCS COMMISSION 7/21/25 50.00
RRM DESIGN GROUP, A CA CORP LANDSCAPE PLAN CHECK & INSPECTIONS APR 2025 1,076.00 RON HSI TRI-VALLEY AIKIDO REC CLASS INSTRUCTOR 424.80
ROBERT FERGUSON ROB'S SKATE ACADEMY REC CLASS INSTRUCTOR 1,792.80 SCP DISTRIBUTORS LLC REC CLASS INSTRUCTOR 4,487.50
SEDGWICK CLAIMS MANAGEMENT,INC. LOSS CONTROL SERVICES JUN 2025 175.00 RRM DESIGN GROUP, A CA CORP LANDSCAPE PLAN CHECK & INSPECTIONS MAY 2025 4,721.50 RROOAR REC CLASS INSTRUCTOR 1,620.00
RRM DESIGN GROUP, A CA CORP LANDSCAPE PLAN CHECK & INSPECTIONS JUN 2025 2,377.50 STRAWN CONSTRUCTION, INC. CULTURAL ARTS REMODEL & CIVIC CTR IMPROV APR-JUN 2025 579,028.22 SITEONE LANDSCAPE SUPPLY INC. IRRIGATION UPGRADES PROJECT -CONTROLLER ORDER 5,437.50 SQUAD SPORTS INC. REC CLASS INSTRUCTOR 2,332.80
STRATEGIC ECONOMICS INC. CONSULTANT FOR UPDATE OF ED STRATEGY & GP ELEMENT 14,385.44 SHADEUSA WATERPARK UMBRELLAS 4,086.84
SHIR MARTIAL ARTS, LLC REC CLASS INSTRUCTOR 3,040.80
SUAREZ & MUNOZ CONSTRUCTION FOREST PARK - CONSTRUCTION JUN 2025 229,333.80 SUAREZ & MUNOZ CONSTRUCTION FOREST PARK - CONSTRUCTION MAY 2025 187,150.00 SWA GROUP JORDAN RANCH NEIGHBORHOOD SQ DESIGN JUN 2025 9,135.00 SYED SAMEER SHABIR HAKIM PCS COMMISSION 7/21/25 50.00
SUULUTAAQ, INC. GREEN STORMWATER INFRASTRUCTURE APR-MAY 2025 46,909.10 SWA GROUP JORDAN RANCH NEIGHBORHOOD SQ DESIGN MAY 2025 10,130.36 SUNFLOWER HILL HUMAN SVCS ADULTS DEV DISABILITIES JAN-JUN 2025 7,500.00 TREASURER ALAMEDA COUNTY FY24/25 FIELD AND SHELTER SERVICES Q4 FIELD 6,113.26 TREASURER ALAMEDA COUNTY FY24/25 FIELD AND SHELTER SERVICES Q4 SHELTER 59,147.13 T-MOBILE USA, INC. PIO& PW CELL PHONE THRU 7.20.25 AND IPAD 1,695.26 T-MOBILE USA, INC. CELL PHONE SERVICE THROUGH 7.20.25 634.64 TARALYN WOOD MILEAGE REIMBURSEMENT - JUN 2025 88.90
THE SOURCING GROUP, LLC PCS APPAREL PURCHASING FY 2024-25 2,397.47 ULINE, INC. WAVE OPERATING SUPPLIES 529.64
UNDERGROUND SERVICE ALERT OF NO. CALIFORNIA & CA STATE FEE FOR REGULATORY COSTS JUL 2024-JUN 2025 1,159.85 TRI-VALLEY JANITORIAL INC. JANITORIAL SERVICE JUL 2025 25,432.21 TRI-VALLEY TRANSPORT. COUNCIL FY 24/25 TVTD FEES QTR 4 438,029.86 TREASURER ALAMEDA COUNTY PW AGENCY-FISCAL DIVISION TRAFFIC SIGNAL AND STREETLIGHT MAINT SVCS JUN 2025 70,705.52 WATERCO OF THE CENTRAL STATES REVERSE OSMOSIS WATER SOFTENER FS18 167.30 WATERCO OF THE CENTRAL STATES REVERSE OSMOSIS WATER SOFTENER FS16 199.90 UNUM LIFE INS CO OF AMERICA LIFE AND AD&D PREMIUM - JUL 2025 12,295.42 WARREN PAYLADO REC CLASS INSTRUCTOR 1,584.00
UNICO ENGINEERING, INC. TRASH CAPTURE DEVICES - CONSTRUCTION MGMT JUN 2025 2,373.43 UNIVERSAL BUILDING SERVICES & SUPPLY CO. WINDOW AND CARPET CLEANING JUL 2025 197.00 WORKFORCE INTEGRITY & TRAINING SOLUTIONS, LLC IRON HORSE NATURE PARK - CWA ADMIN JUN 2025 643.03 WORKFORCE INTEGRITY & TRAINING SOLUTIONS, LLC WALLIS RANCH PARK JUN 2025 103.00 WATERCO OF THE CENTRAL STATES REVERSE OSMOSIS WATER SOFTENER FS17 222.60 41 City of Dublin
Payment Issuance Report
Print Date: 9/2/2025
Payments Dated 8/1/2025 through 8/31/2025

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WORKFORCE INTEGRITY & TRAINING SOLUTIONS, LLC 2025 SLURRY SEAL CWA MONITORING JUN 2025 855.95 WORLD CUP SOCCER CAMPS CLINICS REC CLASS INSTRUCTOR 9,706.80 DELTA DENTAL OF CALIFORNIA DELTA DENTAL PREMIUM - JUL 2025 12,930.08 W-TRANS IRON HORSE CENTRAL STOP WARRANT ANALYSIS MAR 2025 1,041.25 VISION SERVICE PLAN - (CA) VISION INSURANCE PREMIUM - JUL 2025 2,082.29 Payments Issued 8/6/2025 Total: 12,216,392.20
W-TRANS IRON HORSE CENTRAL STOP WARRANT ANALYSIS MAY 2025 2,215.00 ZAYO DEVELOPER DEPOSIT (DV0203) BALANCE REFUND 4,700.00 W-TRANS IRON HORSE CENTRAL STOP WARRANT ANALYSIS APR 2025 3,672.50 INTERNAL REVENUE SERVICE FEDERAL WITHHOLDING: PE 8/8/25 & AUGUST COUNCIL 83,753.24 Payments Issued 8/8/2025 Total: 15,012.37
I C M A 401 PLAN DEFERRED COMP 401: PE 08/08/2025 11,976.94 I C M A 457 PLAN DEFERRED COMP 457: PE 8/8/25 & AUGUST COUNCIL 37,465.63 EMPLOYMENT DEVELOPMENT DEPT CA STATE WITHHOLDING: PE 8/8/25 & AUGUST COUNCIL 24,881.19 HEALTHEQUITY, INC. HEALTHEQUITY: PE 08/08/2025 5,009.14 Payments Issued 8/14/2025 Total: 83,753.24
ACTIONABLE SCIENCE INC REZOLVE AI SOFTWARE SUBSCRIPTION JUN 2025-JUN 2026 6,000.00 AMADOR VALLEY INDUSTRIES LLC TRASH SERVICES - CAMP PARKS JUL 2025 39,707.73 4LEAF INC. BUILDING INSPECTION AND PLAN REVIEW - JUL 2025 85,483.00 US BANK - PARS PARS: PE 08/08/2025 9,857.21
Payments Issued 8/15/2025 Total: 89,190.11
AT&T INVESTIGATORY PHONE PING FEE JUL 2025 500.00
AT&T - CALNET 3 ASE CIRCUITS TO 7/31/25 2,335.13
AT&T AT&T CVC- 1G INT/VOICE 8/7-9/6/25 2,019.59
AT&T AT&T PSC- 600M INTERNET/VOICE 8/7-9/6/25 1,683.50
AMADOR VALLEY INDUSTRIES LLC GARBAGE FEE COLLECTION PASSTHROUGH TO AVI 01/01/25-06/30/25 4,457,712.06 AMY'S ENGRAVED SIGNS & AWARDS PWD NAMEPLATES 233.18
BAY ALARM COMPANY ALARM SERVICES FS17 JUL-SEP 2025 237.75 BAY ALARM COMPANY ALARM SERVICES HERITAGE JUL-SEP 2025 2,277.57 BAY ALARM COMPANY ALARM SERVICES CORP YARD JUL-SEP 2025 778.02 BAY ALARM COMPANY ALARM SERVICES FS16 JUL-SEP 2025 138.00 AVI-SPL LLC PSC - CHIEF CONF ROOM AV EQUIPMENT 4,639.61 BAY ALARM COMPANY ALARM SERVICES CIVIC JUL-SEP 2025 264.00 BIG O'TIRES #7 POLICE VEHICLE MAINTENANCE & REPAIRS 475.33 BRINKS, INC. ARMORED CAR SERVICE AUG 2025 373.69
BAY ALARM COMPANY ALARM SERVICES WAVE JUL-SEP 2025 2,763.18 BAY AREA DESIGN CONSULTANTS PERMIT REFUND BLDG-2024-02733 499.00 BAY ALARM COMPANY ALARM SERVICES SENIOR CENTER JUL-SEP 2025 576.30 BAY ALARM COMPANY ALARM SERVICES SHANNON CENTER JUL-SEP 2025 1,219.07 COMCAST CVC 500M COMCASTX2 INTERNET 7/1-7/31/25 4,881.50 COMMUNE COMMUNICATION CORP ED MARKETING AND BRANDING STRATEGY CONSULTING JUL 2025 12,075.00 CIVICA LAW GROUP APC LEGAL SERVICES JUL 2025 53,485.88
CMS COMMUNICATIONS TWO (2) NETWORK CISCO C9200 SWITCHES 7,069.95 CALED CALED MEMBERSHIP 2026 1,160.00
CDW GOVERNMENT INC MIDDLE ATLANTIC WALL-MOUNT RACK AT SR CENTER 1,110.43 EAST BAY POOL SERVICE, INC. GENERAL POOL MAINTENANCE 10,500.00 DC ELECTRIC GROUP INC. HYDROGEN FUEL CELL MAINTENANCE 512.58 DIV OF THE STATE ARCHITECT JUL-SEPT 2024 ADDENDUM 64.70 CREATION NETWORKS, INC DCAC AV EQUIPMENT 14,144.12
DC ELECTRIC GROUP INC. REPLACE SAN RAMON_SILVER GATE KNOCKED DOWN POLE 12,895.00 EUROPEAN MOBILE WERKS POLICE VEHICLE MAINTENANCE & REPAIRS 6,037.28 GOLDEN STATE FLEET SVCS INC DPS TOWING SERVICES 150.00
GOODFELLOW BROS. CALIFORNIA, LLC IRON HORSE NATURE PARK AND OPEN SPACE JUN 2025 242,683.20 FRANCHISE TAX BOARD EMPLOYEE INCOME TAX EARNINGS WITHHOLDING 965.11 GHD, INC. SPEED SURVEY UPDATES JUL 2025 16,238.75
JOY LIU PHOTOGRAPHY SERVICES - SCHAEFER RANCH CAMPOUT 310.00 JEAN JOSEY MILEAGE REIMBURSEMENT - ABAG GENERAL ASSEMBLY MTG & NLC SUMMER BOARD CONFERENCE 104.38 INCREDIFLIX, INC REC CLASS INSTRUCTOR 7,046.40
GROUP 4 ARCHITECTURE, RESEARCH + PLANNING, INC. WORKSPACE PLANNING STUDY MAY 2025 1,770.40 HARRELL HARRIS PHOTOGRAPHY PHOTOGRAPHY SERVICES- SWIMMING & SUMMER CAMPS 1,050.00 LANLOGIC INC. WAVE/ CPY CABLING FOR VERKADA CAMERAS & CONTROLLERS 28,315.51 JOY LIU PHOTOGRAPHY SERVICES - NATIONAL NIGHT OUT 470.00 LANGUAGE LINE SERVICES LANGUAGE LINE SERVICES FOR JUL 2025 86.00 MTC METROPOLITAN TRANSP COMMISSION STREETSAVER ANNUAL SUBSCRIPTION AUG 2025-JUL 2026 2,000.00 NANOGAN SCIENCE & SERVICES, LLC REC CLASS INSTRUCTOR 3,705.00 LYNX TECHNOLOGIES, INC. GIS CONSULTING SERVICES JUL 2025 12,825.00 MAGS ASSOCIATES LLC REC CLASS INSTRUCTOR 2,511.60
LIVERMORE AUTO GROUP POLICE VEHICLE MAINTENANCE & REPAIRS 8,996.63 PG&E 6020 DUBLIN BLVD 1010865440 7/14/2025 103.81
PG&E STREETLIGHTS–CITYWIDE 1983-1 07/15/2025 26,584.53
PG&E STAGECOACH PARK 07/15/2025 69.76
PG&E DON BIDDLE COMMUNITY PARK 07/15/2025 258.08
ORIGIN BAY LLC. BIRTHDAY PARTY MEALS JUL 2025 8,864.10
PG&E 6196 HORIZON PKWY M DONBIDDLE 07/15/2025 942.17
PG&E DEVANY SQUARE 07/10/2025 22.23
PG&E TED FAIRFIELD PARK 07/09/2025 107.44
PG&E DUBLIN SPORTS GROUND EV 07/14/2025 286.68
PG&E BRAY COMMONS 07/10/2025 110.35
PG&E FALLON SPORTS PARK 07/06/2025 7,707.47
PG&E EMERALD GLEN PARK 07/08/2025 8,153.60
42 City of Dublin
Payment Issuance Report
Print Date: 9/2/2025
Payments Dated 8/1/2025 through 8/31/2025

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PG&E TRAFFIC SIGNALS 06/10/2025 11,276.89
PG&E STAGECOACH LMD 1983-2 07/15/2025 122.20
PG&E POLICE SERVICES 07/14/2025 4,997.62
PG&E TRAFFIC SIGNALS 07/09/2025 1,241.30
PG&E LANDSCAPING 07/07/2025 2,557.22
PG&E DOLAN PARK 07/10/2025 155.82
PRO CYCLES LLC POLICE VEHICLE MAINTENANCE & REPAIRS 48.16 QUADIENT FINANCE USA, INC. POSTAGE FEES FOR DPS 249.00
PG&E PUBLIC SAFETY COMPLEX 07/15/2025 1,201.03
PG&E FIRE STATION 18 07/10/2025 130.94
PG&E STREETLIGHTS EASTDUBLIN1999-1 07/15/2025 12,426.12 PG&E SENIOR CENTER 07/10/2025 302.14
REDWOOD PUBLIC LAW, LLP PROFESSIONAL SERVICES RENDERED THROUGH MAY 2025 83,131.47 RAYNE OF SAN JOSE REVERSE OSMOSIS DRINKING WATER FS17 AUG 2025 37.00 RAYNE OF SAN JOSE REVERSE OSMOSIS DRINKING WATER FS18 AUG 2025 37.00 QUENCH USA, INC. D073825 - CORP YARD FILTER SERV CALL AUG 2025 192.94 RAYNE OF SAN JOSE REVERSE OSMOSIS DRINKING WATER FS16 AUG 2025 37.00 RROOAR REC CLASS INSTRUCTOR 1,012.50
REDWOOD TOXICOLOGY LAB. INC. TOXICOLOGY SERVICES - JUL 2025 1,356.08 REDWOOD PUBLIC LAW, LLP PROFESSIONAL SERVICES RENDERED THROUGH JUN 2025 65,213.19 TARALYN WOOD MILEAGE REIMBURSEMENT - JULY 2025 30.80
TOWNSEND PUBLIC AFFAIRS, INC GRANT STRATEGY AND WRITING SERVICES AUG 2025 5,000.00 SHAMROCK OFFICE SOLUTIONS, LLC FILE 2399 FREIGHT ON TONER 15.00 SIMPLER SYSTEMS, INC SIMPLER SOFTWARE LICENSING SUPPORT AUG 2025 1,650.00 S & J ADVERTISING INC SPLATTER 2025 AD 736.00
SHALINI REDDY EXPENSE REIMBURSEMENT - ASR SUPPLIES 638.51 VERIZON WIRELESS DATA PLAN FOR LICENSE PLATE READERS 1,930.22 WC3-WEST COAST CODE CONSULTANT PLAN REVIEW - JULY 2025 12,787.50 U.S. BANK ANNUAL CFD SPECIAL TAX ADMINISTRATION - DUBLIN CROSSING 1,800.00 U.S. BANK CORPORATE PMT SYSTEM PURCHASE CARD STATEMENT JUL 2025 58,864.06 TREASURER ALAMEDA COUNTY FY2025 POLICE SERVICES MAY-JUN 2025 4,972,769.12 TRIVALLEY INTERNET INC NAVIGATOR PROGRAM - REFERRAL #44 (BAY AREA LAW) 5,500.00 CAL PERS PERS RETIREMENT PLAN: PE 8/8/25 & AUGUST COUNCIL 104,821.49 DSRSD BILLING PERIOD: 06/01/25-07/31/25 467,405.58
Payments Issued 8/18/2025 Total: 10,382,232.18
WHY'D YOU STOP ME SUPERVISORY LEADERSHIP TRAINING COURSE FOR LAW ENFORCEMENT OFFICERS 9,995.00 ZOOMGRANTS ZOOMGRANTS SUBSCRIPTION 10/1/2025-9/30/2026 8,500.00 4IMPRINT INC WALLIS RANCH GRAND OPENING PROMOTIONAL MATERIAL 692.71 CITY OF PLEASANTON TVBID FEES COLLECTED Q4 FY24/25 115,519.64 Payments Issued 8/21/2025 Total: 115,519.64
Payments Issued 8/19/2025 Total: 572,227.07
AKSHAY ARORA ARORA TENNIS & FITNESS ACADEMY REC CLASS INSTRUCTOR 17,438.00 A4 PROMOTIONS & INCENTIVES CITY CLERK BUSINESS CARDS 57.14 ACTION ROAD SOLUTIONS, LLC DPS - EVIDENCE TOWING SERVICES 180.00 CDW GOVERNMENT INC DCAC SPEAKER MOUNTS 1,726.52
CHRISTINE PETIT REC CLASS INSTRUCTOR 1,884.00
BAY ALARM COMPANY ALARM SERVICES WAVE SERVICE CALL AUG 2025 591.16 CASTRO VALLEY PERFORMING ARTS REC CLASS INSTRUCTOR 1,482.00 AMY'S ENGRAVED SIGNS & AWARDS CITY CLERK & PCS NAMEPLATES 233.18 AMY'S ENGRAVED SIGNS & AWARDS COMMISSION MEETINGS NAME PLATES 90.96 AMY L. JONES REC CLASS INSTRUCTOR 367.20
CORODATA SHREDDING, INC. SHRED BIN PICKUP FOR JUL 2025 50.16 DOROTHY DEMONTEVERDE REC CLASS INSTRUCTOR 750.00
COMCAST INTERNET/CABLE SVC WAV, SNC, PSC - 8/11-9/10/25 650.43 CONVERGEONE, INC. RACK MOUNTED CABLE LACING BAR FOR DAC 207.00 CINTAS CORPORATION NO.2 FIRST AID MONTHLY REPLENISHMENT 393.51 CLS/CERVANTES LANDSCAPE SERVICES,INC. MAPE MEMORIAL PARK PATHWAY CONSTRUCTION MAY-JUL 2025 83,388.15 HEALTHEQUITY, INC. HEALTHCARE/COMMUTER BENEFIT JUL/AUG 2025 638.00 INTERACTIVE DATA, LLC PD - SOCIAL MEDIA SEARCH NOV 2024 290.00 GOLDEN STATE FLEET SVCS INC DPS EVIDENCE TOWING SERVICES 450.00 HARRELL HARRIS PHOTOGRAPHY PHOTOGRAPHY SERVICES - SENIOR CENTER 1,272.00 DUBLIN UNIFIED SCHOOL DISTRICT STAGER GYM - WATER JUN - JUL 2025 1,131.11 EUROPEAN MOBILE WERKS POLICE VEHICLE MAINTENANCE & REPAIRS 1,801.43 INTERACTIVE DATA, LLC PD - SOCIAL MEDIA SEARCH APR 2025 290.50 INTERACTIVE DATA, LLC PD - SOCIAL MEDIA SEARCH MAY 2025 290.00 INTERACTIVE DATA, LLC PD - SOCIAL MEDIA SEARCH FEB 2025 290.00 INTERACTIVE DATA, LLC PD - SOCIAL MEDIA SEARCH MAR 2025 293.00 INTERACTIVE DATA, LLC PD - SOCIAL MEDIA SEARCH DEC 2024 290.00 INTERACTIVE DATA, LLC PD - SOCIAL MEDIA SEARCH JAN 2025 291.00 JACQUI HATZIKOKOLAKIS MILEAGE REIMBURSEMENT 19.18
JOY LIU PHOTOGRAPHY SERVICES - SUMMER CONCERT 310.00
INTERACTIVE DATA, LLC PD - SOCIAL MEDIA SEARCH JUL 2025 297.00 IRON MOUNTAIN RECORDS STORAGE - FINANCE JUL-AUG 2025 364.59 INTERACTIVE DATA, LLC PD - SOCIAL MEDIA SEARCH JUN 2025 290.00 MNS ENGINEERS, INC. IRON HORSE TRAIL BRIDGE CM MAR 2025 6,704.40 MNS ENGINEERS, INC. IRON HORSE TRAIL BRIDGE CM FEB 2025 10,147.04 MNS ENGINEERS, INC. IRON HORSE TRAIL BRIDGE CM MAY 2025 978.58 MNS ENGINEERS, INC. IRON HORSE TRAIL BRIDGE CM APR 2025 991.52 JOY LIU PHOTOGRAPHY SERVICES - WALLIS RANCH PARK GRAND OPENING 390.00 MNS ENGINEERS, INC. IRON HORSE TRAIL BRIDGE CM JUN 2025 513.58 MNS ENGINEERS, INC. IRON HORSE TRAILBRIDGE CM JAN 2025 13,886.74 43 City of Dublin
Payment Issuance Report
Print Date: 9/2/2025
Payments Dated 8/1/2025 through 8/31/2025

Page 6 of 6 ends

8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/25/2025
8/28/2025
8/28/2025
8/28/2025
8/29/2025
8/29/2025
8/29/2025
8/29/2025
8/29/2025 229,606.06
8/29/2025
Total Number of Payments Issued:

NATIONAL LEAGUE OF CITIES CITY MEMBERSHIP DUES 2025-2026 7,214.00 NICHOLS CONSULTING ENGINEERS, CHTD ANNUAL STREET RESURFACING DESIGN SERVICES MAY 2025 102,868.70 MNS ENGINEERS, INC. IRON HORSE TRAIL BRIDGE CM NOV 2024 13,896.15 NANOGAN SCIENCE & SERVICES, LLC REC CLASS INSTRUCTOR 1,170.00 MNS ENGINEERS, INC. IRON HORSE TRAIL BRIDGE CM DEC 2024 12,581.54 R. YOUNAN LLC REC CLASS INSTRUCTOR 2,689.20
PLAN JPA GENERAL LIABILITY CLAIMS - JUL 2025 408.00
QUADIENT FINANCE USA, INC. POSTAGE FEES FOR CIVIC JUL 2025 328.44 NOR CAL STATE SOFTBALL NORCAL USA SOFTBALL MEMBERSHIP 475.00 NORM'S TOWING SERVICE, LLC TOWING SERVICES 330.00
RONALD L ESSEX PHOTOGRAPHY SERVICES - SUMMER CONCERT SERIES 600.00 SQUAD SPORTS INC. REC CLASS INSTRUCTOR 4,040.40
ROBERT FERGUSON ROB'S SKATE ACADEMY REC CLASS INSTRUCTOR 747.00 RON HSI TRI-VALLEY AIKIDO REC CLASS INSTRUCTOR 24.00
SWINERTON MANAGEMENT AND CONSULTING DCAC CM SERVICE JUN 2025 27,816.25 TARALYN WOOD TRAVEL REIMBURSEMENT - CPRS 201.87
STANFORD HEALTH -VALLEYCARE OCCUPATIONAL MEDICAL TEST FEES - JUL 2025 74.00 SURABHI BHARADWAJ PCS RENTAL SECURITY DEPOSIT REFUND 500.00 TRI-VALLEY JANITORIAL INC. JANITORIAL SERVICE EXTRA SERVICE JUL 2025 7,640.75 TRI-VALLEY JANITORIAL INC. JANITORIAL SERVICE AUG 2025 25,432.21 TRI-VALLEY JANITORIAL INC. JANITORIAL SERVICE WAVE DAY PORTER JUL 2025 2,720.00 TRI-VALLEY JANITORIAL INC. JANITORIAL SERVICES & SUPPLIES -CAMP PARKS AUG 2025 34,419.43 TRADITION CARE MORTUARY PCS RENTAL SECURITY DEPOSIT REFUND 500.00 TRI-VALLEY JANITORIAL INC. JANITORIAL SERVICES & SUPPLIES-CAMP PARKS JUL 2025 34,419.43 WATERCO OF THE CENTRAL STATES REVERSE OSMOSIS WATER SOFTENER FS17 AUG 2025 222.60 WATERCO OF THE CENTRAL STATES REVERSE OSMOSIS WATER SOFTENER FS18 AUG 2025 167.30 VERIZON WIRELESS DATA PLAN FOR LICENSE PLATE READERS - JULY 2025 320.08 WATERCO OF THE CENTRAL STATES REVERSE OSMOSIS WATER SOFTENER FS16 AUG 2025 199.90 TRIVALLEY MINOR HOCKEY ASSOCIATION FIREWORKS BOOTH CLEANUP DEPOSIT FEE REFUND 200.00 UNIVERSAL BUILDING SERVICES & SUPPLY CO. WINDOW AND CARPET CLEANING JUL 2025 4,586.00 CHICAGO TITLE COMPANY FIRST TIME HOME BUYER LOAN 66,198.00 INTERNAL REVENUE SERVICE FEDERAL WITHHOLDING: PE 8/22/25 79,169.79 CAL PERS PERS RETIREMENT PLAN: PE 8/22/25 103,920.31
WORLD CUP SOCCER CAMPS CLINICS REC CLASS INSTRUCTOR 5,239.20 Payments Issued 8/25/2025 Total: 444,433.24
Payments Issued 8/29/2025 Total: 297,993.93
US BANK - PARS PARS: PE 08/22/2025 5,081.42
371
Grand Total for Payments Dated 8/1/2025 through 8/31/2025: 24,541,574.76 Payments Issued 8/28/2025 Total: 249,288.10
I C M A 457 PLAN DEFERRED COMP 457: PE 8/22/25 32,383.69 RETIREE MEDICAL RETIREE MEDICAL OCT-DEC 2025
HEALTHEQUITY, INC. HEALTHEQUITY: PE 08/22/2025 4,980.68 I C M A 401 PLAN DEFERRED COMP 401: PE 08/22/2025 1,478.83 EMPLOYMENT DEVELOPMENT DEPT CA STATE WITHHOLDING: PE 8/22/25 24,463.25 44 STAFF REPORT

CITY COUNCIL

Page 1 of 2 ends

Agenda Item 5.5
DATE: September 16, 2025

TO: Honorable Mayor and City Councilmembers

FROM: Colleen Tribby, City Manager

SUBJECT:

Adoption of the City of Dublin Title VI Program
Prepared by: Sarah Monnastes, Human Resources Director

EXECUTIVE SUMMARY:

The City Council will consider adopting the City of Dublin Title VI Program in accordance with a statue provision of the Civil Rights Act of 1964 that prohibits discrimination in any program or activity receiving federal financial assistance. The Title VI Program ensures compliance through a public notice of rights, complaint procedures, designation of a Title VI Coordinator, and ongoing reporting to the California Department of Transportation, which is responsible for distributing Federal Highway Administration funds to local agencies.

STAFF RECOMMENDATION:

Adopt the Resolution Adopting the City of Dublin Title VI Program.

FINANCIAL IMPACT:

There is no direct financial impact associated with adopting the Title VI Program. Compliance with Title VI is a condition of receiving federal funding.

DESCRIPTION:

Background
Title VI of the Civil Rights Act of 1964, signed into law by President Lyndon B. Johnson, prohibits discrimination on the basis of race, color, national origin, sex, disability, or age in any program or activity receiving federal financial assistance. To ensure that federal dollars do not subsidize discrimination, federal agencies were directed to establish enforcement regulations.

Because the Federal Highway Administration (FHWA) distributes funding through the California Department of Transportation (Caltrans), local public agencies that receive federal- aid highway funds must comply with Title VI as a condition of funding. Caltrans, acting as FHWA’s designated recipient, is responsible for reviewing and monitoring the Title VI Programs of subrecipients, including cities and counties.

Page 2 of 2 ends

Accordingly, local agencies are required to adopt and maintain a Title VI Program that meets both federal and Caltrans standards. A compliant program includes a public notice of rights, complaint procedures for individuals who believe they have been subjected to discrimination, the designation of a Title VI Coordinator, and ongoing compliance reporting to Caltrans for review and approval.

City of Dublin Title VI Program
The City’s Title VI Program affirms the City’s commitment to equity and nondiscrimination in the delivery of services. Adoption of the Program ensures the City remains eligible to receive federal funds and aligns with best practices for transparency and accountability.

The Program designates the Human Resources Director as the City’s Title VI Coordinator, responsible for implementing the Program, monitoring compliance, and reporting to the City Manager and federal agencies, as required.

Next Steps
Upon adoption, the Program will be submitted to the appropriate oversight agencies and posted on the City’s website and at customer service counters, ensuring residents, program participants, and employees have clear access to their rights and responsibilities under Title VI.

STRATEGIC PLAN INITIATIVE:

None.

NOTICING REQUIREMENTS/PUBLIC OUTREACH:

The City Council Agenda was posted.

ATTACHMENTS:

1) Resolution Adopting the City of Dublin Title VI Program 2) Exhibit A to the Resolution – City of Dublin Title VI Program

46 Attachment 1
Reso. No. XX-25, Item X.X, Adopted 09/16/2025 Page 1 of 2 RESOLUTION NO. XX – 25

A RESOLUTION OF THE CITY COUNCIL

OF THE CITY OF DUBLIN

ADOPTING THE CITY OF DUBLIN TITLE VI PROGRAM

WHEREAS, Title VI of the Civil Rights Act of 1964 provides that no person in the United States shall, on the grounds of race, color, national origin, sex, disability, or age in any program or activity receiving federal financial assistance; and

WHEREAS, the Federal Highway Administration (FHWA) distributes federal -aid highway funds through the California Department of Transportation (Caltrans), which requires local public agencies to establish and maintain a Title VI Program as a condition of receiving such funds; and

WHEREAS, as the City of Dublin is a recipient of federal -aid highway funds through Caltrans and is therefore required to adopt and maintain a Title VI Program to ensure compliance with federal law; and

WHEREAS, the City of Dublin’s Title VI P rogram provides for a public notice of rights, complaint procedures, designation of a Title VI Coordinator, and compliance reporting to Caltrans, thereby ensuring equitable access to services, programs and activities funded with federal assistance; and

WHEREAS, adoption of the City of Dublin Title VI Program affirms the City’s commitment to equity, nondiscrimination, and transparency in the delivery of public services and maintains eligibility for federal funding.

WHEREAS, the City Council of the City of Dublin has reviewed the proposed Title VI Program and finds it consistent with federal requirements.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does hereby adopt the City of Dublin Title VI Program, attached hereto as Exhibit A.

BE IT FURTHER RESOLVED that the City Manager, or designee, is authorized to submit the Title VI Program to the appropriate federal and state agencies as required by law.

BE IT FURTHER RESOLVED that the City Manager, or designee, is authorized to make any non-substantive changes required by law or by Caltrans as part of its oversight responsibilities.

{Signatures on the next page}

47 Reso. No. XX-25, Item X.X, Adopted XX/XX/2025 Page 2 of 2

PASSED, APPROVED AND ADOPTED this 16th day of September 2025, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

______________________________
Mayor
ATTEST:

_________________________________
City Clerk

48 Attachment 2
Exhibit A to the Resolution – City of Dublin Title VI Program

City of Dublin

TITLE VI PROGRAM

September 16, 2025

49 2
Table of Contents
I. Non-Discrimination Policy Statement .................................................................................................. 3 II. Organization, Staffing, and Structure ................................................................................................... 4 III. Notice of Rights ............................................................................................................................... 4 IV. Non-Discrimination Authorities ...................................................................................................... 4 V. Title VI Complaint Procedures ........................................................................................................ 5 VI. Public Participation ......................................................................................................................... 6 VII. Data Collection ................................................................................................................................ 7 VIII. Training ........................................................................................................................................... 7 IX. Reporting Requirements ................................................................................................................. 7

50 3
I. Non-Discrimination Policy Statement

It is the policy of the City of Dublin that no person shall on the grounds of race, color, national origin, sex, disability, or age, be excluded from participation in, be denied the benefits of, or be subjected to discrimination in any operation of the City of Dublin as provided by Title VI of the Civil Rights Act of 1964 and related statutes.

This policy applies to all operations of the City of Dublin, including its contractors and anyone who acts on behalf of the City. This policy also applies to the operations of any department or agency to which the City extends federal financial assistance. Federal financial assistance includes grants, training, use of equipment, donations of surplus property, and other assistance.

Prohibited discrimination may be intentional or unintentional. Seemingly neutral acts that have disparate impacts on individuals of a protected group and lack a substantial legitimate justification are a form of prohibited discrimination. Harassment and retaliation are also prohibited forms of discrimination.

Examples of prohibited types of discrimination based on race, color, national origin, sex, disability, or age include: Denial to an individual any service, financial aid, or other benefit; Distinctions in the quality, quantity, or manner in which a benefit is provided; Segregation or separate treatment; Restriction in the enjoyment of any advantages, privileges, or other benefits provided; Discrimination in any activities related to highway and infrastructure or facility built or repaired; and Discrimination in employment.

Title VI compliance is a condition of receipt of federal funds. The Title VI Coordinator is authorized to ensure compliance with this policy, Title VI of the Civil Rights Act of 1964, 42 U.S.C § 2000d and related statutes, and the requirements of 23 Code of Federal Regulation (CFR) pt. 200 and 49 CFR pt. 21.

Colleen Tribby, City Manager Date
51 4
II. Organization, Staffing, and Structure

The City Manager is ultimately responsible for assuring full compliance with the provisions of Title VI of the Civil Rights Act of 1964 and related statutes and has directed that non-discrimination is required of all City employees, contractors, and agents pursuant to 23 CFR Part 200 and 49 CFR Part 21.

The Human Resources Director/Risk Manager has been appointed by the City Manager to serve as the Title VI Coordinator. The Title VI Coordinator provides guidance and technical assistance on Title VI matters and has overall program responsibility for preparing reports and developing program procedures.

The Title VI Coordinator is responsible for:
• Submitting a Title VI plan and required annual reports on the agency’s behalf; • Developing procedures for the prompt processing and disposition of complaints; • Investigating complaints, compiling a complaint log, and reporting to the California Department of Transportation (Caltrans);
• Developing procedures for the collection and analysis of statistical data; • Developing a program to conduct Title VI reviews of program areas; • Conducting annual Title VI assessments of pertinent program areas; • Developing Title VI information for dissemination; and • Establishing procedures for resolving deficiency status and reducing to writing the remedial action agreed to be necessary.

The Public Works Director oversees implementation of the City’s Title VI program as it relates to consultants and contractors and ensures that Title VI Assurances are included in all sub-contracts with federal funds – specifically including Appendix A of the Title VI Assurances in the “MASTER AGREEMENT - ADMINISTERING AGENCY-STATE AGREEMENT FOR FEDERAL-AID PROJECTS”.

III. Notice of Rights

The City will display the “Notice of Rights” (Exhibit A) for public view at customer service counters in various City facilities, field locations and on the City’s website. The notice states that the City is committed to complying with Title VI and ensuring that no person is excluded from participating in, be denied the benefits of or be otherwise subjected to discrimination under any of the City’s programs, activities, or services.

IV. Non-Discrimination Authorities

Title VI, 42 U.S.C. § 2000d (race, color, and national origin) 23 U.S.C. § 324 (sex)
42 U.S.C. § 6101 (age)
42 U.S.C. § 12131; 29 U.S.C. § 794 (disability)
49 CFR Part 21
23 CFR Part 200
52 5
V. Title VI Complaint Procedures

Federal law prohibits discrimination on the basis of race, color, national origin, age, sex, or disability in any City of Dublin program or activity. This prohibition applies to all branches of City of Dublin, its contractors, consultants, and anyone else who acts on behalf of the City of Dublin.

Any person who believes they have been subject to discrimination within the City’s programs or activities because of their race, color, national origin, or other protected status may file a Title VI complaint by completing and submitting the City’s Title VI Complaint Form with the Title VI Coordinator within 180 days of the alleged incident. The City’s Title VI Complaint Form is available through Human Resources at 100 Civic Plaza, Dublin, CA and online at www.dublin.ca.gov.

The City’s Title VI Coordinator will only process complaints that are complete and include the following information:

• Complainant’s contact information
• Date(s) of alleged discriminatory act(s)
• Details of alleged discrimination
• Identification of the City Department responsible for the alleged discrimination • Basis of the complaint (e.g. race, color, or national origin) • Signature of the complainant or complainant’s representative

Once the Title VI complaint is received, the Title VI Coordinator will forward the complaint to Caltrans, to be submitted to the FHWA Division Office. The Title VI Coordinator will also begin processing the complaint by entering said complaint into the City’s Title VI Discrimination Complaint Log and conducting an internal investigation. Once a finding has been determined/received, the City’s Title VI Coordinator will provide said findings to the complainant within 10 business days via letter and/or email.

Complaints Processed Under the Federal Highway Administration (FHWA):

Title VI complaints filed with Caltrans in which Caltrans is named as the Respondent will be forwarded to the FHWA Division Office. The Complainant will receive an acknowledgement letter informing them that the complaint has been received and forwarded to the FHWA.

Per the FHWA Guidance Memorandum, Processing of Title VI Complaints, dated June 13, 2018, all Title VI complaints received by a sub-recipient (City of Dublin) are to be forwarded to Caltrans to be submitted to FHWA Division Office. Complaints should be sent within one business day of receipt via email to [email protected]. If Caltrans Office of Civil Rights (HCR) determines a Title VI complaint against a sub-recipient can be investigated by Caltrans, HCR may delegate the task of investigating the complaint to Caltrans.

OCR Investigation Process:

If OCR is delegated the responsibility of performing an investigation, OCR has 90 days to investigate the 53 6
complaint. If additional time is needed, OCR will call the Complainant and inform them.

If more information is needed to resolve the case, the OCR investigator may contact the Complainant.

The Complainant has ten business days from the date of the letter to send the requested information to the investigator assigned to the case.

If the investigator is not contacted by the Complainant or does not receive the additional information within ten business days, OCR can administratively close the case. A case can be administratively closed also if the complainant no longer wishes to pursue their case.

OCR will consult with HCR regarding the disposition of the complaint. Disposition of Title VI complaints will be undertaken by HCR, through either (1) informal resolution or (2) issuance of a Letter of Finding.

A copy of the Letter of Finding will be sent to all parties via the Division Office.

A person may also file a complaint directly with the FHWA and/or Caltrans by the following contact information:

Federal Highway Administration
U.S. Department of Transportation Office of Civil Rights 1200 New Jersey Avenue, SE 8th Floor E81-105
Washington, DC 20590

California Department of Transportation
Office of Civil Rights
Attention: Title VI Branch
PO Box 942874, MS 79, Sacramento, CA
[email protected]

Should a complaint be filed with the City of Dublin and one with a federal or state agency simultaneously, the federal/state complaint will supersede the City’s complaint and the City’s complaint procedures will be suspended pending the federal/state agency’s findings.

VI. Public Participation
The City of Dublin is committed to engaging residents, businesses, and stakeholders in an inclusive and transparent manner. Public participation ensures that City projects, programs, and services are delivered equitably and are responsive to the diverse needs of the community.

The City will:
• Provide opportunities for public input at City Council and Commission meetings, workshops, and community forums.
• Use a variety of outreach methods, including the City website, social media, newsletters, and postings in public facilities, to share information broadly. 54 7
• Offer translation or interpretation services, as needed, to ensure meaningful access for individuals with limited English proficiency.
• Make outreach materials available in alternative formats upon request to ensure accessibility for persons with disabilities.
• Document and consider public feedback in the planning, design, and implementation of City programs and services.

Through these efforts, the City seeks to ensure that all voices are heard and considered, particularly those from underrepresented or historically disadvantaged groups.

VII. Data Collection

The City will review and analyze data collected regularly to ensure the effectiveness of outreach methods in meeting the objectives of the Title VI program and to ensure that no group is intentionally excluded in the decision-making process or is not given the opportunity to voice their opinions or concerns. Sources of demographic information may include data collected by City staff and/or federal, state and local government agencies such as the U.S. Bureau of Labor Statistics, U.S. Census Bureau, U.S. Bureau of Economic Analysis, California Department of Finance, California Department of Labor, the California Employment Development Department, the Association of Bay Area Governments, or the Metropolitan Transportation Commission.

VIII. Training

Title VI training will be provided to managers, supervisors, and staff with frequent public contact in the administration of federal-aid programs every two years. Trainings may be offered online or through an instructor-led class. The following components will be covered:

• Review of City’s Title VI Policy
• How to handle a potential complaint
• Where to seek assistance for Title VI questions and concerns

IX. Reporting Requirements

The City of Dublin will comply with all reporting requirements established by federal funding agencies in connection with Title VI of the Civil Rights Act of 1964. The City will submit Title VI reports, updates, or accomplishment and goal reports when directed by a federal or state funding agency as a condition of funding. Title VI compliance documentation will be made available upon request.

55 8
Exhibit A

Your Rights Under Title VI of the Civil Rights Act of 1964

Title VI of the Civil Rights Act of 1964 requires that no person in the United States, on the grounds of race, color or national origin be excluded from, be denied the benefits of, or be subjected to discrimination, under any program or activity receiving federal financial assistance.

Any person who believes they have been subjected to discrimination may file a written complaint with the City of Dublin. Federal and State law require complaints to be filed within one hundred eighty (180) calendar days of the last alleged incident. Additional information and the Title VI Complaint Forms can be found on the City’s Website at www.dublin.ca.gov or can be obtained by contacting the Title VI Coordinator at (925) 833-6650 or [email protected].

The complaint procedure and form can also be obtained by writing to the Title VI Coordinator.

To file a written Title VI complaint, please use the following information:

City of Dublin – Human Resources/Risk Manager
Title VI Coordinator
100 Civic Plaza, 2nd Floor
Dublin, CA 94568

56 9
Appendix A

Master Agreement Administering Agency-State Agreement for Federal Aid Projects & Title VI Assurances
57 58
59 60
61 62
63 64
65 66
67 68
69 70
71 72
73 74
75 76
77 78
79 80
81 82
83 84

STAFF REPORT

CITY COUNCIL

Page 1 of 2 ends

Agenda Item 5.6
DATE: September 16, 2025

TO: Honorable Mayor and City Councilmembers

FROM: Colleen Tribby, City Manager

SUBJECT:

2025 Development Agreement Review
Prepared by: Jeff Baker, Assistant City Manager, and Anastasia Nelson, Administrative Aide

EXECUTIVE SUMMARY:

The City Council will receive a report on the annual review of active Development Agreements to ensure compliance with the terms and provisions of the Agreements pursuant to the California Government Code, Sections 65864 - 65869.5, and to Chapter 8.56 of the Dublin Municipal Code.

STAFF RECOMMENDATION:

FINANCIAL IMPACT:

The fiscal impacts of these projects were addressed as part of a fiscal analysis performed for each approved project. All financial obligations of the subject developers have been met pursuant to the terms provided in their respective Development Agreements.

DESCRIPTION:

Background
An annual review of active Development Agreements is required by California Government Code Sections 65864-65869.5 and Chapter 8.56 of the Dublin Municipal Code. During the review period, occurring in July and August of each year, Staff reviews each active Development Agreement to ensure compliance with the terms and provisions of the agreement. The burden of demonstrating good faith compliance is on the respective developer and/or property owner. Staff from the Finance, Community Development, Fire Prevention, Parks and Community Services, and Public Works departments complete a thorough and detailed assessment of the developer’s compliance with the requirements contained in the 85

Page 2 of 2 ends

applicable agreements.

Following the review, Staff presents the findings and recommends to the City Council to either:
(1) determine that the parties are in compliance and conclude the review; or (2) determine that the parties have not complied in good faith, in which case the City Council must request that the matter of compliance be considered at a noticed public hearing. At said public hearing, the City Council may modify or terminate the Development Agreement upon making certain findings based on substantial evidence that the developer has not complied in good faith with the Agreement.

Analysis
The following active Development Agreements, identified in Table 1 below, were subject to the 2025 annual review. Based on Staff’s review, all required public improvements, payments, and scheduled financial obligations have been satisfied by each of the developers and property owners. Staff concluded that each of the developers/owners is proceeding in good faith with the terms of their Development Agreement and is therefore recommending that the report be accepted by the City Council and the annual review be concluded.

Table 1: Active Development Agreements
No. Development Project Expiration Date Compliant

1. Bex Development (Branaugh Property) 04/20/2033 Yes

2. Dublin Crossings (Boulevard) 12/20/2033 Yes

3. Dublin Fallon 580 Project 09/19/2034 Yes

4. Kaiser Dublin Medical Center 11/04/2041 Yes

5. SCS Dublin Project (The DC) 01/05/2028 Yes

STRATEGIC PLAN INITIATIVE:

None.

NOTICING REQUIREMENTS/PUBLIC OUTREACH:

No public notice is required. However, a formal notification of the 2025 Development Agreement Annual Review was sent to the parties of the Development Agreements. The City Council Agenda was posted.

ATTACHMENTS:

1) Resolution Finding that Developers Having Obligations Under Active Development Agreements and Supplemental Agreements as Amended, Have Complied in Good Faith with the Terms and Provisions of the Agreements

86 Attachment I
Reso. No. XX-25, Item X.X, Adopted 09/16/2025 Page 1 of 2 RESOLUTION NO. XX – 25

A RESOLUTION OF THE CITY COUNCIL

OF THE CITY OF DUBLIN

FINDING THAT DEVELOPERS HAVING OBLIGATIONS UNDER ACTIVE DEVELOPMENT

AGREEMENTS AND SUPPLEMENTAL AGREEMENTS AS AMENDED, HAVE COMPLIED IN

GOOD FAITH WITH THE TERMS AND PROVISIONS OF THE AGREEMENTS

WHEREAS, as of July 1, 2025, the following projects have active Development Agreements with the City of Dublin: Bex Development (Branaugh Property), Dublin Crossings (Boulevard), Dublin Fallon 580 Project, Kaiser Dublin Medical Center, and SCS Dublin Project (The DC); and

WHEREAS, the annual review of active Development Agreements is required by California Government Code Sections 65864 – 65869.5, and Chapter 8.56 of the Dublin Municipal Code; and

WHEREAS, during the review period, occurring in July and August of each year, Staff reviews the development agreements to ensure compliance with the terms and provisions of the Agreements; and

WHEREAS, the burden of demonstrating good faith compliance with the Agreements rests with the Developers; and

WHEREAS, the appropriate City Departments have reviewed each of the active Development Agreements, and confirmed that the developers are in compliance with the terms of the Agreements; and

WHEREAS, Staff presents and recommends the City Council determine the parties are in compliance and conclude the review.

NOW, THEREFORE, BE I T RESOLVED that the City Council of the City of Dublin concludes its review of the above referenced active Development Agreements and Supplemental Agreements as Amended, and determines that the Developers having obligations under said Agreements have complied in good faith with the terms and provisions of the Agreements.

{Signatures on the following page}

87 Reso. No. XX-25, Item X.X, Adopted 09/16/2025 Page 2 of 2 PASSED, APPROVED AND ADOPTED this 16th day of September 2025, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

______________________________
Mayor
ATTEST:

_________________________________
City Clerk
88 STAFF REPORT

CITY COUNCIL

Page 1 of 3 ends

Agenda Item 8.1
DATE: September 16, 2025

TO: Honorable Mayor and City Councilmembers

FROM: Colleen Tribby, City Manager

SUBJECT:

Annual Review of the City’s Statement of Investment Policy Prepared by: Jay Baksa, Finance Director

EXECUTIVE SUMMARY:

The City Council will consider a resolution completing the annual review of the Statement of Investment Policy. The Policy has been updated to align with the City’s Mission, Vision, and Values, as identified in the City’s Strategic Plan by adding three new categories to the prohibited investment list. Additionally, City Staff relocated existing prohibitions into the designated “Prohibited Investments” section for consistency and clarity.

STAFF RECOMMENDATION:

Adopt the Resolution Approving the Annual Review of the Statement of Investment Policy and Delegation of Authority to Complete Investment Transactions.

FINANCIAL IMPACT:

None.

DESCRIPTION:

The current Statement of Investment Policy, adopted on August 21, 2007, states that it is subject to annual review by the City Council and that the review shall be conducted by the second meeting in September (Section XVIII). The Policy was last revised on September 17, 2024 to reflect the current organizational structure of the Finance Department. That revision also added language to provide more flexibility in the City’s investment strategy. Specifically, it authorized the City to invest in any Joint Powers Authority investment pool that meets the criteria of the California Government Code Section 6509.7.

Page 2 of 3 ends

Finance and Investment Subcommittee
During the 2024 review of the Policy, the City Council directed Staff to create a Finance and Investment Committee (FIC) that have the responsibility of reviewing and making recommendations on financial matters, including the city's investment policy and strategy. The FIC was formally established on October 15, 2024, with Vice Mayor Kashef Qaadri and Councilmember Michael McCorriston appointed as the inaugural members.

In response to community feedback about the types of companies in which the City invests, the FIC conducted a comprehensive review of the Policy. The FIC explored the incorporation of additional Socially Responsible Investing (SRI) practices and Environmental, Social, and Governance (ESG) standards. SRI is an investment strategy that aims to generate financial returns while excluding companies or industries that conflict with specific social, environmental, or ethical values. ESG investing integrates environmental, social, and governance criteria into investment analysis and decision-making. The objective is to identify risks and opportunities that may not be captured through traditional financial analysis alone.

At its June 2, 2025 meeting, the FIC received a report outlining potential approaches for integrating SRI and ESG standards into the Policy. The report also summarized the Boycott, Divestment, Sanctions (BDS) and American Friends Service Committee (AFSC) movements and related actions taken by other agencies (Attachment #4).

Following the discussion, the FIC directed Staff to:
 Request a sample ESG report from the City’s investment management consultant, Chandler Asset Management.
 Draft an updated Policy that clarifies investments should reflect the City’s Mission, Vision, and Values.
 Add three new business sectors to the Policy’s prohibited investments list:
o Companies that develop or manufacture commodities that facilitate violence or war.
o Companies engaged in border or mass surveillance industries. o Companies involved in mass incarceration or detention industries.  Relocate all existing prohibited investment types into a dedicated section of the Policy for clarity.

On August 8, 2025, the FIC reviewed the requested sample ESG report and the draft updated Policy. At that meeting, the FIC approved the updated Policy, with additional clarifying language, and recommended that:

 The City’s portfolio be reviewed annually to ensure alignment with the City’s Mission, Vision, and Values.
 The City’s investment advisor provide an annual ESG report as part of this review process.

Page 3 of 3 ends

Proposed Changes
Based on the recommendations of the FIC and Staff’s review in consultation with Chandler, Staff has revised the Policy to include the following updates:

Section XI: Prohibited Investment Practices and Instruments  Added language stating that all City investments will be guided by the City’s Mission, Vision, and Values, and that the portfolio will be reviewed annually, with prohibited investments updated as needed.

 Clarified that the Intercontinental Exchange Bank of America Index Family’s classification system will be used to identify business sectors for the purpose of excluding prohibited investment types. This system is an industry standard and ensures consistency in evaluating potential exclusions.

 Added three new business sectors to the list of prohibited investments:
o Companies that develop or manufacture commodities that facilitate violence or war.
o Companies engaged in border or mass surveillance industries. o Companies involved in mass incarceration or detention industries.

XIV. Investment Risk
The Policy previously excluded three business sectors—fossil fuel companies, tobacco and tobacco-related companies, and companies supporting firearm production—within Section XIV (Investment Risk). For clarity and consistency, these exclusions have been relocated to Section XI (Prohibited Investment Practices and Instruments).

The attached Resolution documents the annual review and confirms the delegation of authority to Staff to complete investment transactions. The Policy is provided as Exhibit A to the Resolution.

STRATEGIC PLAN INITIATIVE:

None.

NOTICING REQUIREMENTS/PUBLIC OUTREACH:

The City Council Agenda was posted.

ATTACHMENTS:

1) Resolution Approving the Annual Review of the Statement of Investment Policy and Delegation of Authority to Complete Investment Transactions 2) Exhibit A to the Resolution - Statement of Investment Policy for the City of Dublin 3) Statement of Investment Policy for the City of Dublin (Redline) 4) June 2, 2025 Finance and Investment Committee Agenda Item #2.2 Staff Report (without attachments)
91 Attachment 1
Reso. No. XX-25, Item X.X, Adopted XX/XX/2025 Page 1 of 2 RESOLUTION NO. XX – 25

A RESOLUTION OF THE CITY COUNCIL

OF THE CITY OF DUBLIN

APPROVING THE ANNUAL REVIEW OF THE STATEMENT OF INVESTMENT POLICY AND

DELEGATION OF AUTHORITY TO COMPLETE INVESTMENT TRANSACTIONS

WHEREAS, on August 21, 2007 the City Council adopted Resolution 152 -07 approving a City Investment Policy (Policy); and

WHEREAS, Section XVIII of the Policy requires an annual review by the City Council no later than the second meeting in September; and

WHEREAS, the last modification to the policy was approved by the Council at the City Council meeting of September 17, 2024; and

WHEREAS, the focus of the annual review is to allow for any adjustments as a result of changes in State laws or other recommended modifications; and

WHEREAS, consistent with the provisions of Government Code Section 53607, the Policy provides for the City Council to delegate for a one-year period the authority to invest City funds to the City Treasurer and any duly appointed Deputy City Treasurer; and WHEREAS, Staff recommends changes to the Investment Policy to align with the City’s Mission, Vision, and Values, and relocating language for clarity and consistency; and

WHEREAS, the City Council reviewed the Investment Policy at the September 1 6, 2025 meeting.

NOW, THEREFORE, BE IT RESOLVED that the City Council of the City of Dublin does hereby in accordance with California Government Code 53646(a)(2) complete the annual review of the Statement of Investment Policy, as attached hereto as Exhibit A.

BE IT FURTHER RESOLVED that the City Council action explicitly renews the delegation of authority to complete investment transactions by City Staff (Finance Director designated as the City Treasurer and the City Manager designated as the Deputy City Treasurer), as described in Section IV of the Policy.

{Signatures on the following page}

92 Reso. No. XX-25, Item X.X, Adopted XX/XX/2025 Page 2 of 2

PASSED, APPROVED AND ADOPTED this 16th day of September 2025, by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

______________________________
Mayor
ATTEST:

_________________________________
City Clerk

93 Attachment 2
Exhibit A to the Resolution

STATEMENT OF INVESTMENT POLICY FOR THE CITY OF DUBLIN
I. INTRODUCTION

This Statement of Investment Policy is intended to identify various policies and procedures that will foster a prudent and systematic investment program designed to seek the City's objectives of safety, liquidity and return through a diversified investment portfolio. This policy also serves to organize and formalize the City's investment - related activities, while complying with all applicable status governing the investment of public funds.

II. SCOPE

This policy covers all funds and investment activities under the direct authority of the City of Dublin, as set forth in the State Government Code, sections 53600 et seq., excluding any bond-related proceeds or reserves, which are governed by their bond indentures. Cash held by the City shall be pooled in order to more effectively manage City cash resources. All pooled funds are accounted for in the City's Comprehensive Annual Financial Report and include:

Funds
General Fund
Special Revenue Funds
Capital Project Funds
Internal Service Funds
Enterprise Funds
Agency Funds

This original investment policy was adopted by the City of Dublin (the "City"), on August 21, 2007. This update to the Policy is effective on September 16, 2025 and replaces any previous versions.

III. OBJECTIVES

The overall program shall be designed and managed with a degree of professionalism worthy of the public trust. The primary objectives, in order of priority, of the City's investment activities shall be:
1) Safety: Safety of principal is the foremost objective of the investment program. The City's investments shall be undertaken in a manner that seeks to safeguard the principal of the funds under its control by maintaining an appropriate risk level. 94 2

2) Liquidity: The City's investment portfolio will remain sufficiently liquid to enable the City to meet its reasonably anticipated cash flow requirements. 3) Return: Return should become a consideration only after the basic requirements of safety and liquidity have been met. The City seeks to attain market average rate of return on its investments throughout economic cycles, consistent with constraints imposed by its safety objectives and cash flow considerations. 4) Diversification: The investment portfolio will be diversif ied to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions. This shall also conform with applicable sections of the Government Code.

IV. DELEGATION OF AUTHORITY

As authorized in Government C ode Section 53607, the City Council delegates the authority to invest funds of the City to the City Treasurer and/or any duly appointed Deputy City Treasurer. The City Treasurer and any duly appointed Deputy City Treasurer shall make all investment decisio ns and transactions in strict accordance with State law and this investment policy. The Finance Director shall be designated as the City Treasurer and the City Manager shall be designated as the Deputy City Treasurer. This delegation shall be for a one -year period until the delegation of authority is revoked or expires. The City Council may renew the authority each year as part of an annual review of this policy.

The City Treasurer shall establish procedures for the operation of the investment program. The City Treasurer shall be also responsible for all transactions undertaken and establishing a system of controls to regulate the activities of subordinates.

The City recognizes that in a diversified portfolio, occasional measured losses may be inevitable and must be considered within the context of the overall portfolio's return and the cash flow requirements of the City. Authorized individuals acting in accordance with written procedures and the investment policy and exercising due diligence shall be relieved of personal responsibility for an individual security's credit risk or market price changes, provided deviations from expectations are reported in a timely fashion and appropriate action is taken to control adverse developments.

The City may engage t he services of one or more external investment managers to assist in the management of the City's investment portfolio in a manner consistent with the City's objectives. Such external managers may be granted discretion to purchase 95 3

and sell investment secur ities in accordance with this investment policy. Such managers must be registered under the Investment Advisors Act of 1940.

V. PRUDENCE

Pursuant to California Government Code Section 53600.3, all persons authorized to make investment decisions on behalf of the City are trustees and therefore fiduciaries subject to the prudent investor standard: "When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the agency, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of fun ds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the agency."

VI. ETHICS AND CONFLICTS OF INTEREST

All participants in the investment process shall act as custodians of the public trust.

Investment officials shall recognize that the investment portfolio is subject to public review and evaluation. The overall program shall be designed and managed with a degree of professionalism that is worthy of the public trust. Thus , employees and officials involved i n the investment process shall refrain from personal business activity that conflicts with proper execution of the investment program or impairs their ability to make impartial investment decisions. Additionally, the City Treasurer and the Deputy Treasurer shall file applicable financial disclosures as required by the Fair Political Practices Commission (FPPC).

VII. INTERNAL CONTROLS

The Treasurer is responsible for establishing and maintaining an internal control structure designed to ensure that the assets of the entity are protected from loss, theft or misuse. The internal control structure shall be designed to provide reasonable assurance that these objectives are met. The concept of reasonable assurance recognizes that (1) the cost of a control should not exceed the benefits likely to be derived; and (2) the valuation of costs and benefits requires estimates and judgments by City management. Periodically, as deemed appropriate by City management and/or the City Council, an independent analysis by an external auditor shall be conducted to review internal controls, account activity and compliance with policies and procedures.
96 4

VIII. AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS

To the extent practical the Treasurer shall endeavor to complete investment transactions using a competitive bid process whenever possible. It shall be the City's policy to purchase securities only from authorized institutions and firms. No deposit of public funds shall be made except in a qualified public depository as established by state laws.

Institutions eligible to transact investment business with the City include:

1) Primary government dealers as designated by the Federal Reserve Bank and non- primary government dealers
2) Nationally or state-chartered banks
3) The Federal Reserve Bank
4) Direct issuers of securities eligible for purchase
The Treasurer shall maintain procedures for establishing a list of authorized broker/dealers and financial institutions which are approved for investment purposes.

These may include primary or regional dealers that qualify under Securities & Exchange Commission Rule 15C3-l (uniform net capital rule). The City requires each firm that will be used for the purchase or sale of securities to be evaluated by the Treasurer prior to any investments. The firms shall submit current financial statements, and annual audited financial statements each year the reafter, which are to be evaluated by the Treasurer. At a minimum, the firm must be financially sound and have been in business a minimum of three years. In addition, the firms must provide: proof of National Association of Security Dealers membership, proof of state registration or exemption, and certificate of having read the City's investment policy.

If an investment adviser is retained by the City, then that adviser will be permitted to use their own list of approved broker/dealers and financial institu tions for investment purposes.

IX. AUTHORIZED AND SUITABLE INVESTMENTS

The City's investments are governed by Government Code, Sections 53600 et seq.

Within the investments permitted by the Government Code, the City seeks to further restrict eligible investments to the guidelines listed below. In the event an apparent discrepancy is found between this Policy and the Government Code, the more restrictive parameters will take precedence. Percentage holding limits listed in this 97 5

section apply at the time the security is purchased. Any investment currently held at the time the Policy is adopted which does not meet the new Policy guidelines can be held until maturity, and shall be exempt from the current Policy. At the time of the investment's maturity or liquidation such funds shall be reinvested only as provided in the most current Policy.

An appropriate risk level shall be maintained by primarily purchasing securities that are of high quality, liquid, and marketable. The portfolio shall be diversified by security type and institution to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions.

1) United States Treasury Issues . United States Treasury notes, bonds, bills, or certificates of indebtedness, or those for which the faith and credit of the United States are pledged for the payment of principal and interest. There is no limitation as to the percentage of the portfolio that may be invested in this category. The maximum maturity of these securities is ten years. The City Council authorized investments in United States Treasury Issues beyond five years on September 6, 2022.

2) Federal Agency Obligations . Federal agency or United States government - sponsored enterprise obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies or United States government - sponsored enterprises. There is no limitation as to the percentage of the portfolio that may be invested in this category. However, the portfolio's exposure to any one federal agency issuer is limited to 35 percent of the overall portfolio. The limit of the overall portfolio's exposure to callable federal agency securities is 25 percent. The maximum maturity for agency securities is ten years. The City Council authorized investments in Federal Agency Obligations beyond five years on September 6, 2022.

3) Bankers' Acceptances . Bankers' acceptances, otherwise known as bills of exchange or time drafts, that are drawn on and accepted by a commercial bank.

Bankers' acceptances must be secured by the irrevocable primary obligation of the accepting domestic bank. Purchasers are limited to issuers whose short-term debt is rated "A- 1" or higher, or the equivalent, by a Nationally Recognized Statistical- Rating Organization (NRSRO). Bankers' acceptances cannot exceed a maturity of 180 days. A maximum of 40 percent of the portfolio may be invested in this category. The amount invested in bankers' acceptances with any one financial 98 6

institution in combination with any other debt from that financial institution shall not exceed 20 percent of the portfolio.

4) Commercial Paper. Commercial paper of "prime" quality rated "A -1" or higher, or the equivalent, by a NRSRO. The entity that issues the commercial paper shall meet all of the following conditions in either paragraph (a) or paragraph (b):

a. The entity meets the following criteria: (i) Is organized and operating in the United States as a general corporation. (ii) Has total assets in excess of five hundred million dollars ($500,000,000). (iii) Has debt other than commercial paper, if any, that is rated "A" or higher by a nationally recognized statistical- rating organization.

b. The entity meets the following criteria: (i) Is organized within the United States as a special purpose corporation, trust, or limit ed liability company. (ii) Has program wide credit enhancements including, but not limited to, overcollateralization, letters of credit, or surety bond. (iii) Has commercial paper that is rated "A -1" or higher, or the equivalent, by a nationally recognized statistical-rating organization.

Eligible commercial paper shall have a maximum maturity of 270 days or less and not represent more than 10 percent of the outstanding paper of an issuing corporation. A maximum of 25 percent of the portfolio may be inve sted in this category. Under a provision of the California Government Code sunsetting on January 1, 2026, no more than 40 percent of the portfolio may be invested in Commercial Paper if the Agency ’s investment assets under management are greater than $100,000,000. The amount invested in commercial paper of any one issuer in combination with any other debt from that issuer shall not exceed 20 percent of the portfolio.

5) Negotiable Certificates of Deposit . Negotiable certificates of deposit (NCDs) issued by a nationally or state-chartered bank, a savings association or a federal association, a state or federal credit union, or by a state -licensed branch of a foreign bank. Purchases are limited to institutions which have long-term debt rated "A" or better and/or have short -term debt rated at least "A -1" or higher, or the equivalent by a NRSRO. A maximum of 30 percent of the portfolio may be invested in this category. The amount invested in NCDs with any one financial institution in combination with any other debt from that financial institution shall not exceed 20 percent of the portfolio. The maximum maturity of these securities is five years. 99 7

6) Time Certificates of Deposit. Time Certificates of Deposit (TCDs) placed with commercial banks and savings and loans. The purchase of TCDs from out-of-state banks or savings and loans is prohibited. The amount on deposit shall not exceed the shareholder's equity in the financial institution. To be eligible for purchase, the financial institution must have received a minimum overall satisfactory rating for meeting the credit needs of California Communities in its most recent evaluation, as provided Government Code Section 53635.2. TCDs are required to be collateralized as specified under Government Code Section 53630 et. seq. The Treasurer, at his discretion, may waive the collateralization requirements for any portion that is covered by federal (FDIC) insurance. The City shall have a signed agreement with the depository per Government Code Section 53649. The maximum maturity of these securities may not exceed one (1) year in maturity. A maximum of 10 percent of the portfolio may be invested in this category.

7) Mutual Funds and Money Market Mutual Funds that are registered with the Securities and Exchange Commission under the Investment Company Act of 1940, provided that,

a. MUTUAL FUNDS that invest in the securities and obligations as authorized under California Government Code, Section 53601 (a) to (k) and (m) to (q) inclusive and that meet either of the following criteria:
i. Attained the highest ranking or the highest letter and numerical rating provided by not less than two (2) NRSROs; or
ii. Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than f ive years ’ experience investing in the securities and obligations authorized by California Government Code, Section 53601 and with assets under management in excess of $500 million. iii. No more than 10% of the total portfolio may be invested in shares of any one mutual fund.

b. MONEY MARKET MUTUAL FUNDS registered with the Securities and Exchange Commission under the Investment Company Act of 1940 and issued by diversified management companies and meet either of the following criteria:
i. Have attained the highest ranking or the highest letter and numerical rating provided by not less than two (2) NRSROs; or
100

8 ii. Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years ’ experience managing money market mutual funds with assets under management in excess of $500 million. iii. No more than 20% of the total portfolio may be invested in Money Market Mutual Funds.

c. No more than 20% of the total portfolio may be invested in these securities.

8) State of California Local Agency Investment Fund (LAIF). The City may invest up to the maximum as permitted by LAIF. For due diligence, the Treasurer shall maintain on file a copy of LAIF's current Answer Book.

9) Joint Powers Authority (JPA) Pools, provided that: The JPA is organized pursuant to California Government Code Section 6509.7 and invests in the securities and obligations authorized in subdivisions (a) to (r), inclusive. Each share shall represent an equal proportional interest in the underlying pool of securities owned by the JPA. The JPA has retained an investment advisor who is registered with the SEC (or exempt from registration), has assets under management in excess of $500 million, and has at least five years ’ experience investing in instrume nts authorized by Section 53601, subdivisions (a) to (q).

10) Medium Term Notes. Medium-term notes, defined as all corporate and depository institution debt securities with a maximum remaining maturity of five years or less, issued by corporations organized and operating within the United States or by depository institutions licensed by the United States or any state and operating within the United States. Purchases are limited to securities rated "A" or higher, or the equivalent, by a NRSRO. A maximum of 30 percent of the City's portfolio may be invested in this category and a maximum of 5 percent with any one issuer. The maximum maturity of these securities is five years.

11) Asset-Backed, Mortgage -Backed, Mortgage Pass -Through Securities, and Collateralized M ortgage Obligations, from issuers not defined in the Federal Agency Obligations Subdivision. The City may purchase such securities provided that they are rated "AA" or higher, or the equivalent, by a NRSRO. Purchase of securities authorized by this subdivision may not exceed 20 percent of the portfolio, and a maximum of 5 percent per issue. The maximum maturity of these securities is five years.

101

9 12) Municipal Securities. Obligations of the State of California, any of the other 49 states, or any local agency within the State of California, may be purchased by the City provided that long-term obligations are rated "A" or higher, or the equivalent, by at least one NRSRO. There are no limits on the dollar amount or percentage that the city may invest in municipal securities; however, investments in these securities are limited to a maximum of 5 percent with any single issuer. The maximum maturity of these securities is ten years. The City Council authorized investments in Municipal Securities beyond five years on September 6, 2022.

13) Supranationals provided that issues are US dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by the International Bank for Reconstruction and Development, International Finance Corporation, or Inter -American Development Bank. The securities must be rated in a rating category of “AA” or its equivalent by a NRSRO. No more than 30% of the portfolio may be invested in these securities, and no more than 10% of the portfolio may be invested in any single i ssuer. The maximum maturity does not exceed five (5) years.

X. AUTHORIZED INVESTMENTS FOR BOND PROCEEDS

Bond proceeds shall be invested in securities permitted by the applicable bond documents. If the bond documents are silent as to the permitted investment s, bond proceeds will be invested in securities permitted by this Policy. Notwithstanding the provisions of the Policy, the percentage or dollar portfolio limitations listed elsewhere in this Policy do not apply to bond proceeds. In addition to the securit ies listed in Section IX above, bond proceeds may be invested in structured investment products if approved by the Treasurer.

XI. PROHIBITED INVESTMENT PRACTICES AND INSTRUMENTS

City Investments will be guided by the City ’s Mission, Vision, and Values and during the annual review of the Investment Policy, the City shall review the portfolio and identify and update prohibited investments as needed.

The Intercontinental Exchange Bank of America Index Family ’s classification system will be used to identify bu siness sectors for the purpose of excluding prohibited investment types.

The City will not invest in fossil fuel companies, tobacco or tobacco-related companies and companies that support the production of firearms.
102

10 The City will not invest in companies that develop or manufacture commodities that facilitate violence or war.

The City will not invest in companies that engage in border or mass surveillance industries.

The City will not invest in companies that are involved in mass incarceration or detention industries.

The City shall not make investments for the purpose of trading or speculation as the dominate criterion such as anticipation of appreciation of capital value through changes in market rates.

Any investment in a security not specific ally listed as an Authorized and Suitable Investment above, but otherwise permitted by the Government Code, is prohibited without the prior approval of the City Council. Section 53601.6 of the Government Code specifically disallows investments in invoice f loaters, range notes, or interest - only strips that are derived from a pool of mortgages. Under a provision of the California Government Code sunsetting on January 1, 2026, securities backed by the United States Government that could result in a zero or neg ative interest accrual if held to maturity are permitted.

XII. REVIEW OF INVESTMENT PORTFOLIO

The City Treasurer shall periodically, but no less than quarterly, review the portfolio to identify investments that do not comply with this investment policy and es tablish protocols for reporting major and critical incidences of noncompliance to the City Council.

XIII. TERM OF INVESTMENTS

Funds of the City will be invested in accordance with sound treasury management principles. It is the objective of this Policy to provide a system which will accurately monitor and forecast revenues and expenditures so that the City can invest funds to the fullest extent possible.

The maximum maturity of individual investments shall not exceed the limits set forth in under Authorized and Suitable Investments. No investment shall exceed a maturity of five years from the date of purchase unless the City Coun cil has granted express 103

11 authority to make that investment either specifically or as a part of an investment program approved by the City Council no less than three months prior to the investment.

XIV. INVESTMENT RISK

a. MARKET RISK

Market risk is the risk that the portfolio will decline in value (or will not optimize its value) due to changes in the general level of interest rates. The City recognizes that, over time, longer -term portfolios achieve higher returns. On the other hand, longer-term portfolios have higher volatility of return. The City shall mitigate market risk by providing adequate liquidity for short -term cash needs, and by making some longer -term investments only with funds that are not needed for current cash flow purposes.

The City further reco gnizes that certain types of securities, including variable rate securities, securities with principal pay -downs prior to maturity, and securities with embedded options, will affect the market risk profile of the portfolio differently in different interest rate environments. The City, therefore, adopts the following strategies to control and mitigate its exposure to market risk:

i. The maximum stated final maturity of individual securities in the portfolio shall be five years, unless otherwise stated in this policy; ii. The City shall maintain a minimum of three months of budgeted operating expenditures in cash, cash equivalents and short-term investments; and
iii. The duration of the portfolio will typically be approximately equal to the duration of a market index, se lected by the City as its performance benchmark, which meets the City's needs for cash flow and level of risk tolerance plus or minus 20%.

b. CREDIT RISK
In general, the City's portfolio will be diversified to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions, such as credit risk. Credit risk is the risk that a security or a portfolio will lose some or all of its value due to a real or perceived change in the ability of 104

12 the issuer to repay its debt. The City shall mitigate credit risk by adopting the following strategies:
i. The diversification requirements included in Section IX are designed to mitigate credit risk in the portfolio;
ii. No more than 5% of the total portfolio may be deposited with or invested in securities issued by any single issuer unless otherwise specified in this policy.
iii. The City may elect to sell a security prior to its matu rity and record a capital gain or loss in order to improve the quality, liquidity or return of the portfolio in response to market conditions or the City's risk preferences; and
iv. If a security owned by the City is downgraded to a level below the requirements of this policy, making the security ineligible for additional purchases, the following steps will be taken:

1. Any actions taken related to the downgrade by the investment manager will be communicated to the City in a timely manner.

2. If a decision is made to retain the security, the credit situation will be monitored and reported back to the City.

XV. SAFEKEEPING AND CUSTODY

Investment securities are to be purchased when possible in book -entry form in the City's name. All security transactions entered into by the City shall be conducted on a delivery-versus-payment (DVP) basis. All cash and securities in the City's portfolio shall be held in safekeeping in the City's name by a third-party bank trust department, acting as agent for the City under the terms o f a custody agreement executed by the bank and the City. All investment transactions will require a safekeeping receipt or acknowledgment generated from the trade. A monthly report will be received by the City from the safekeeping institution listing all s ecurities held in safekeeping with current market data and other information. The only exception to the foregoing shall be depository accounts and securities purchases made with: (i) local government investment pools; (ii) time certificates of deposit, and, (iii) money mutual funds, since the purchased securities are not deliverable. Term and non -negotiable instruments, such as certificates of deposit, can be held by the Treasurer, or in safekeeping as the Treasurer deems appropriate.

XVI. PERFORMANCE BENCHMARK

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13 The investment portfolio shall be designed to attain a market -average rate of return throughout budgetary and economic cycles, taking into account the City's risk constraints, the cash flow characteristics of the portfolio, and state and local laws, ordinances or resolutions that restrict investments. The Treasurer shall monitor and evaluate the portfolio's performance relative to the market benchmark, which will be included in the Treasurer's quarterly report. The Treasurer shall select an appropriate, readily available index to use as a benchmark.

XVII. REPORT INFORMATION

The Treasurer shall prepare a report to the City Council not less than semi -annually which is available each year within 60 days following December 31st and June 30th.

The semi-annual report shall be presented at a subsequent regularly scheduled City Council Meeting. The report shall be inclusive of a monthly listing of investment transactions. At a minimum the report shall include the following (Revised 9-18-2012):

a. Type of Investment
b. Issuer
c. Date of Maturity
d. Par and dollar amount invested
e. Current Market Value as of the date of the report
f. Source of the market value information
g. A list of investment transactions.
h. A statement of compliance with the investment policy i. A statement as to the ability of the City to meet its expenditure requirements for the next six months
In addition, the City Treasurer will submit a monthly transaction report to the City Council.

XVIII. REVIEW OF INVESTMENT POLICY
This policy shall be subject to review by the City Council on an annual basis, by the second Council meeting in September. Any recommended modifications or amendments shall be presented by Staff to the City Council for their consideration and adoption.

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14 GLOSSARY OF TERMS
ACCRUED INTEREST: Interest earned but not yet received.

AGENCIES: Federal agency securities and/or Government -sponsored enterprises.

Examples of well -known agencies that issue bonds are Federal Home Loan Mortgage Corporation (FHLMC or "Freddie Mac"), Federal National Mortg age Association (FNMA or "Fannie Mae"), and the Federal Home Loan Bank.

AMORTIZATION: An accounting practice of gradually decreasing (increasing) an asset's book value by spreading its depreciation (accretion) over a period of time.

ASKED: The price at which securities are offered.

ASSET BACKED SECURITIES: Securities supported by pools of installment loans or leases or by pools of revolving lines of credit.

BANKERS' ACCEPTANCE (BA): A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill, as well as the issuer.

BASIS POINT: One basis point is one hundredth of one percent (.0 I ).

BENCHMARK: A comparative base for measuring the performance or risk tolerance of the investment portfolio. A benchmark should represent a close correlation to the level of risk and the average duration of the portfolio's investments.

BID PRICE: The price offered by a buyer of securities. (When you are selling securities, you ask for a bid.) See Offer.

BOND: A financial obligation for which the issuer promises to pay the bondholder a specified stream of future cash flows, including periodic interest payments and a principal repayment.

BOOK ENTRY: The system maintained by the Federal Reserve, by which most money market se curities are delivered to an investor's custodial bank. The Federal Reserve maintains a computerized record of the ownership of these securities and records any changes in ownership corresponding to payments made over the Federal Reserve wire (delivery versus payment.)
BOOK VALUE: The value at which a debt security is shown on the holder's balance sheet. Book value is acquisition cost less amortization of premium or accretion of discount.
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15 BROKER: A broker brings buyers and sellers together for a commission.

CALLABLE BOND: A bond issue in which all or part of its outstanding principal amount may be redeemed before maturity by the issuer under specified conditions.

CALL PRICE: The price at which an issuer may redeem a bond prior to maturity. The price is usually at a slight premium to the bond's original issue price to compensate the holder for loss of income and ownership.

CALL RISK: The risk to a bondholder that a bond may be redeemed prior to maturity.

CERTIFICATE OF DEPOSIT (CD): A deposit insured up to $10 0,000 by the FDIC at a set rate for a specified period of time.

COLLATERAL: Securities, evidence of deposit or other property which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies.

COLLATERALIZED MORTGAGE OBLIGATION (CMO): Classes of bonds that redistribute the cash flows of mortgage securities (and whole loans) to create securities that have different levels of prepayment risk, as compared to the underlying mortgage securities.

COMMERCIAL PAPER: An unsecured promissory note of industrial corporations, utilities and bank holding companies having assets in excess of $500 million and an "A" or higher rating for the issuer's debentures. Interest is discounted from par and calculated using the actual number of days on a 360-day year. The notes are in bearer form, mature from one to 270 days and generally start at $100,000. There is a secondary market for commercial paper and an investor may sell them prior to maturity. Unused lines of credit back commercial paper from major banks.

COMPREHENSIVE ANNUAL FINA NCIAL REPORT (CAFR): The official annual financial report for the City. It includes combined statements and basic financial statements for each individual fund and account group prepared in conformity with Generally Accepted Accounting Principles (GAAP). S upplemental information is also included including a detailed multi-year comparative statistics.

COST YIELD: The annual income from an investment divided by the purchase cost.

Because it does not give effect to premiums and discounts which may have been included in the purchase cost, it is an incomplete measure of return. 108

16 COUPON: (a) The annual rate of interest that a bond's issuer promises to pay the bondholder on the bond's face value. (b) A certificate attached to a bond evidencing interest due on a payment date.

CREDIT RISK: The risk that principal and/or interest on an investment will not be paid in a timely manner due to changes in the condition of the issuer.

CURRENT YIELD: The interest paid on an investment expressed as a percentage of the current price of the security.

CUSTODY: A banking service that provides safekeeping for the individual securities in a customer's investment portfolio under a written agreement which also calls for the bank to collect and pay out income, and to buy, sell, receive and deliver securities when ordered to do so by the account holder.

DEALER: A dealer, as opposed to a broker, acts as a principal in all transactions, buying and selling for his own account.

DEBENTURE: A bond secured only by the general credit of the issuer.

DELIVERY VERSUS PAYMENT (DVP): Delivery versus payment is delivery of securities with an exchange of money for the securities.

DERIVATIVES: (1) Financial instruments whose return profile is linked to, or derived from, the movement of one or more underlying index or security, and may include a leveraging factor, or (2) financial contracts based upon notional amounts whose value is derived from an underlying index or security (interest rates, foreign exchange rates, equities or commodities).

DISCOUNT: The difference between the cost price of a security and its value at maturity when quoted at lower than face value.

DISCOUNT SECURITIES: Non-interest-bearing money market instruments that are issued a discount and redeemed at maturity for full face value, e.g., U.S. Treasury Bills.

DIVERSIFICATION: Dividing investment funds among a variety of securities offering independent returns.

DURATION: A measure of the timing of the cash flows, such as the interest payments and the principal repayment, to be received from a given fixed -income security. This calculation is based on three variables: term to maturity, coupon rate, and yield to maturity. 109

17 The duration of a security is a useful indicator of its price volatility for given changes in interest rates.

FEDERAL CREDIT AGENCIES: Agencies of the Federal government set up to supply credit to various classes of institutions and individuals, e.g., S&L's, small business firms, students, farmers, farm cooperatives, and exporters.

FEDERAL DEPOSIT INSURANCE CORPORATION (FDIC): A federal agency that insures bank deposits, currently up to $100,000 per deposit.

FEDERAL FUNDS RATE: The rate of interest at which Fed funds are traded. This rate is currently pegged by the Federal Reserve through open-market operations.

FEDERAL HOME LOAN BANKS (FHLB): Government sponsored wholesale banks (currently 12 regional banks) which lend funds and provide correspondent banking services to member commercial banks, thrift institutions, credit unions and insurance companies.

FEDERAL NATIONAL MORTGAGE ASSOCIATION (FNMA or Fannie Mae): FNMA, like GNMA was chartered under the Federal National Mortgage Association Act in 1938.

FNMA is a federal corporation working under the auspices of the Department of Housing and Urban Development (HUD). The corporation is called, is a private stockholder-owned corporation. The corporation's purchases include a variety of adjustable mortgages and second loans, in addition to fixed-rate mortgages.

FEDERAL OPEN MARKET COMMITTEE (FOMC): Consists of seven members of the Federal Reserve Board and five of the twelve Federal Reserve Bank Presidents. The President of the New York Federal Reserve Bank is a permanent member, while the other Presidents serve on a rotating basis. The Committee periodically meets to set Federal Reserve guidelines regarding purchases and sales of Government Securities in the open market as a means of influencing the volume of bank credit and money.

FEDERAL RESERVE SYSTEM: The central bank of the United States created by Congress and consisting of a seven -member Board of Governors in Washington, D.C., 12 regional banks and about 5,700 commercial banks that are members of the system.

FED WIRE: A wire transmission service established by the Federal Reserve Bank to facilitate the transfer of funds through debits and credits of funds between participants within the Fed system.

FEDERAL HOME LOAN MORTGAGE CORPORATION (FHLMC or Freddie Mac): A United States government sponsored corporation.
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18 GOVERNMENT NATIONAL MORTGAGE ASSOCIATION (GNMA or Ginnie Mae):

Securities influencing the volume of bank credit guaranteed by GNMA and issued by mortgage bankers, commercial banks, savings and loan associations, an d other institutions. Security holder is protected by full faith and credit of the U.S. Government.

Ginnie Mae securities are backed by the FHA, VA or FmHA mortgages. The term "pass- throughs" is often used to describe Ginnie Maes.

HAIRCUT: The margin or d ifference between the actual market value of a security and the value assessed by the lending side of a transaction (i.e. a repo).

INTEREST RATE: The annual yield earned on an investment, expressed as a percentage.

LEVERAGE: Borrowing funds in order to inv est in securities that have the potential to pay earnings at a rate higher than the cost of borrowing.

LIQUIDITY: Refers to the ability to easily and rapidly convert a security into cash.

LOCAL AGENCY INVESTMENT FUND (LAIF): The local Agency Investment Fun d (LAIF) is a special fund in the California State Treasury created and governed pursuant to Government Code Sections 16429.1 et seq. There are limits on the maximum dollars deposited by a city as well as the number of transactions allowed each month.

LOCAL GOVERNMENT INVESTMENT POOL (LGIP): The aggregate of all funds from political subdivisions that are placed in custody of the State Treasurer for investment and reinvestment.

MAKE WHOLE CALL: A type of call provision on a bond that allows the issuer to pay off the remaining debt early. Unlike a call option, with a make whole call provision, the issuer makes a lump sum payment that equals the net present value (NPV) of future coupon payments that will not be paid because of the call. With this type of call, an investor is compensated, or "made whole."
MARGIN: The difference between the market value of a security and the loan a broker makes using that security as collateral.

MARKET RISK: The risk that the value of securities will fluctuate with changes in overall market conditions or interest rates.

MARKET VALUE: The price at which a security is trading and could presumably be purchased or sold on a specific date.
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19 MARKING TO MARKET: The process of posting current market values for securities in a portfolio.

MATURITY: The date upon which the principal or stated value of an investment becomes due and payable.

MEDIUM TERM NOTES (MTNs): Unsecured, investment-grade senior debt securities of major corporations which are sold in relatively small amounts on either a continuous or an intermittent basis. MTNs are highly flexible debt instruments that can be structured to respond to market opportunities or to investor preferences.

MODIFIED DURATION: The percent change in price for a 100 basis point change in yields. Modified duration is the best single measure of a portfolio's or security's exposure to market risk.

MONEY MARKET: The market in wh ich short-term debt instruments (T -bills, discount notes, commercial paper, and banker's acceptances) are issued and traded.

MONEY MARKET MUTUAL FUND: Mutual funds that invest solely in money market instruments (short - term debt instruments, such as Treasury bills, commercial paper, bankers' acceptances, and federal funds).

MORTGAGE PASS THROUGH SECURITIES: A securitized participation in the interest and principal cash flows from a specified pool of mortgages. Principal and interest payments made on the mortgages are passed through to the holder of the security.

MUNICIPAL SECURITIES: Securities issued by state and local agencies to finance capital and operating expenses.

MUTUAL FUND: An entity which pools the funds of investors and invests those funds in a set of securities which is specifically defined in the fund's prospectus. Mutual funds can be invested in various types of domestic and/or internationa l stocks, bonds, and money market instruments, as set forth in the individual fund's prospectus. For most large, institutional investors, the costs associated with investing in mutual funds are higher than the investor can obtain through an individually managed portfolio.

NATIONAL ASSOCIATION OF SECURITIES DEALERS (NASD): A self -regulatory organization (SRO) of brokers and dealers in the over-the-counter securities business. Its regulatory mandate includes authority over firms that distribute mutual fund sh ares as well as other securities.
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20 NATIONALLY RECOGNIZED STATISTICAL RATING ORGANIZATIONS (NSROs ); Credit rating agencies whose ratings are permitted to be used for regulatory purposes such as those imposed by the Securities and Exchange Commission.

NEGOTIABLE CERTIFICATE OF DEPOSIT: A large denomination certificate of deposit which can be sold in the open market prior to maturity.

NEW ISSUE: Term used when a security is originally "brought" to market.

OFFER: The price asked by a seller of securities. (When you are buying securities, you ask for an offer.) See Asked and Bid.

OPEN MARKET OPERATIONS: Purchases and sales of government and certain other securities in the open market by the New York Federal Reserve Bank as directed by the FOMC in order to influenc e the volume of money and credit in the economy. Purchases inject reserves into the bank system and stimulate growth of money and credit; sales have the opposite effect. Open market operations are the Federal Reserve' s most important and most flexible monetary policy tool.

PORTFOLIO: Collection of securities held by an investor.

PREMIUM: The amount by which the price paid for a security exceeds the security's par value.

PREPAYMENT SPEED: A measure of how quickly principal is repaid to investors in mortgage securities.

PREPAYMENT WINDOW: The time period over which principal repayments will be received on mortgage securities at a specified prepayment speed.

PRIMARY DEALER: A group of government securities dealers who submit daily reports of market activity and positions and monthly financial statements to the Federal Reserve Bank of New York and are subject to its informal oversight. Primary dealers include Securities and Exchange Commission (SEC)-registered securities broker-dealers, banks, and a few unregulated firms.

PRINCIPAL: The face value or par value of a debt instrument, or the amount of capital invested in a given security.

PRUDENT PERSON (PRUDENT INVESTOR) RULE: A standard of responsibility which applies to fiduciaries. In California, the rule is sta ted as "Investments shall be managed with the care, skill, prudence and diligence, under the circumstances then prevailing, that 113

21 a prudent person, acting in a like capacity and familiar with such matters, would use in the conduct of an enterprise of like c haracter and with like aims to accomplish similar purposes."
PURCHASE DATE: The date on which a security is purchased for settlement on that or a later date.

RATE OF RETURN: The yield obtainable on a security based on its purchase price or its current market price. This may be the amortized yield to maturity on a bond or the current income return.

REALIZED YIELD: The change in value of the portfolio due to interest received and interest earned and realized gains and losses. It does not give effect to changes in market value on securities, which have not been sold from the portfolio.

REGIONAL DEALER: A financial intermediary that buys and sells securities for the benefit of its customers without maintaining substantial inventories of securities and that is not a primary dealer.

REPURCHASE AGREEMENT (RP OR REPO): A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date. The security "buyer" in effect lends the "seller" money for the perio d of the agreement, and the terms of the agreement are structured to compensate him for this.

RULE 2a-7 OF THE INVESTMENT COMPANY ACT: Applies to all money market mutual funds and mandates such funds to maintain certain standards, including a 13 - month maturity limit and a 90-day average maturity on investments, to help maintain a constant net asset value of one dollar ($1.00).

SAFEKEEPING: See CUSTODY .

SECONDARY MARKET: A market made for the purchase and sale of outstanding issues following the initial distribution.

SECURITIES & EXCHANGE COMMISSION: Agency created by Congress to protect investors m securities transactions by administering securities legislation.

SETTLEMENT DATE: The date on which a trade is cleared by delivery of securities against funds.

STRUCTURED NOTE: A complex, fixed income instrument, which pays interest, based on a formula tied to other interest rates, commodities or indices. Examples include inverse 114

22 floating rate notes which have coupons that increase when other interest rates are falling, and which fall when other interest rates are rising, and "dual index floaters," which pay interest based on the relationship between two other interest rates - for example, the yield on the ten-year Treasury note minus the Libor rate. Issuers of such notes lock in a reduced cost of borrowing by purchasing interest rate swap agreements.

TENNESSEE VALLEY AUTHORITY (TVA): The Tennessee Valley Authority provides flood control and power and promotes development in portions of the Tennessee, Ohio, and Mississippi River valleys. TVA currently issues discount notes and bonds.

TIME CERTIFICATE OF DEPOSIT: A non-negotiable certificate of deposit which cannot be sold prior to maturity.

TOTAL RATE OF RETURN: A measure of a portfolio's performance over time. It i s the internal rate of return, which equates the beginning value of the portfolio with the ending value; it includes interest earnings, realized and unrealized gains, and losses in the portfolio.

TREASURY BILLS: A non-interest-bearing discount security issued by the U.S. Treasury to finance the national debt. Most bills are issued to mature in three months, six months, or one year and are sold on a discount basis.

TREASURY BONDS: Long-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities of more than 10 years.

TREASURY NOTES: Medium-term coupon-bearing U.S. Treasury securities issued as direct obligations of the U.S. Government and having initial maturities of I to 10 years.

U.S. GOVER NMENT AGENCIES: Instruments issued by various US Government Agencies most of which are secured only by the credit worthiness of the particular agency.

VOLATILITY: The rate at which security prices change with changes in general economic conditions or the general level of interest rates.

WEIGHTED AVERAGE MATURITY (WAM): The average maturity of all the securities that comprise a portfolio that is typically expressed in days or years.

YIELD: The rate of annual income return on an investment, expressed as a per centage.

It is obtained by dividing the current dollar income by the current market price of the security.
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23 YIELD TO MATURITY: The rate of income return on an investment, minus any premium or plus any discount, with the adjustment spread over the period from the date of purchase to the date of maturity of the bond, expressed as a percentage.

YIELD CURVE: The yield on bonds, notes or bills of the same type and credit risk at a specific date for maturities up to thirty years.

ZERO-COUPON SECURITY: Security that is issued at a discount and makes no periodic interest payments. The rate of return consists of a gradual accretion of the principal of the security and is payable at par upon maturity.
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Attachment 3

STATEMENT OF INVESTMENT POLICY FOR THE CITY OF DUBLIN
I. INTRODUCTION

This Statement of Investment Policy is intended to identify various policies and procedures that will foster a prudent and systematic investment program designed to seek the City's objectives of safety, liquidity and return through a diversified investment portfolio. This policy also serves to organize and formalize the City's investment- related activities, while complying with all applicable status governing the investment of public funds.

II. SCOPE

Funds
General Fund
Special Revenue Funds
Capital Project Funds
Internal Service Funds
Enterprise Funds
Agency Funds

This original investment policy was adopted by the City of Dublin (the "City"), on August 21, 2007. This update to the Policy is effective on September 167, 20254 and replaces any previous versions.

III. OBJECTIVES

2 2) Liquidity: The City's investment portfolio will remain sufficiently liquid to enable the City to meet its reasonably anticipated cash flow requirements. 3) Return: Return should become a consideration only after the basic requirements of safety and liquidity have been met. The City seeks to attain market average rate of return on its investments throughout economic cycles, consistent with constraints imposed by its safety objectives and cash flow considerations. 4) Diversification: The investment portfolio will be diversified to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions. This shall also conform with applicable sections of the Government Code.

IV. DELEGATION OF AUTHORITY

As authorized in Government Code Section 53607, the City Council delegates the authority to invest funds of the City to the City Treasurer and/or any duly appointed Deputy City Treasurer. The City Treasurer and any duly appointed Deputy City Treasurer shall make all investment decisions and transactions in strict accordance with State law and this investment policy. The Finance Director shall be designated as the City Treasurer and the City Manager shall be designated as the Deputy City Treasurer. This delegation shall be for a one-year period until the delegation of authority is revoked or expires. The City Council may renew the authority each year as part of an annual review of this policy.

The City may engage the services of one or more external investment managers to assist in the management of the City's investment portfolio in a manner consistent with the City's objectives. Such external managers may be granted discretion to purchase 118

3 and sell investment securities in accordance with this investment policy. Such managers must be registered under the Investment Advisors Act of 1940.

V. PRUDENCE

Pursuant to California Government Code Section 53600.3, all persons authorized to make investment decisions on behalf of the City are trustees and therefore fiduciaries subject to the prudent investor standard: "When investing, reinvesting, purchasing, acquiring, exchanging, selling, or managing public funds, a trustee shall act with care, skill, prudence, and diligence under the circumstances then prevailing, including, but not limited to, the general economic conditions and the anticipated needs of the agency, that a prudent person acting in a like capacity and familiarity with those matters would use in the conduct of funds of a like character and with like aims, to safeguard the principal and maintain the liquidity needs of the agency."

VI. ETHICS AND CONFLICTS OF INTEREST

All participants in the investment process shall act as custodians of the public trust.

Investment officials shall recognize that the investment portfolio is subject to public review and evaluation. The overall program shall be designed and managed with a degree of professionalism that is worthy of the public trust. Thus, employees and officials involved in the investment process shall refrain from personal business activity that conflicts with proper execution of the investment program or impairs their ability to make impartial investment decisions. Additionally, the City Treasurer and the Deputy Treasurer shall file applicable financial disclosures as required by the Fair Political Practices Commission (FPPC).

VII. INTERNAL CONTROLS

4 VIII. AUTHORIZED FINANCIAL DEALERS AND INSTITUTIONS

Institutions eligible to transact investment business with the City include:

These may include primary or regional dealers that qualify under Securities & Exchange Commission Rule 15C3-l (uniform net capital rule). The City requires each firm that will be used for the purchase or sale of securities to be evaluated by the Treasurer prior to any investments. The firms shall submit current financial statements, and annual audited financial statements each year thereafter, which are to be evaluated by the Treasurer. At a minimum, the firm must be financially sound and have been in business a minimum of three years. In addition, the firms must provide: proof of National Association of Security Dealers membership, proof of state registration or exemption, and certificate of having read the City's investment policy.

If an investment adviser is retained by the City, then that adviser will be permitted to use their own list of approved broker/dealers and financial institutions for investment purposes.

IX. AUTHORIZED AND SUITABLE INVESTMENTS

The City's investments are governed by Government Code, Sections 53600 et seq.

5 section apply at the time the security is purchased. Any investment currently held at the time the Policy is adopted which does not meet the new Policy guidelines can be held until maturity, and shall be exempt from the current Policy. At the time of the investment's maturity or liquidation such funds shall be reinvested only as provided in the most current Policy.

1) United States Treasury Issues. United States Treasury notes, bonds, bills, or certificates of indebtedness, or those for which the faith and credit of the United States are pledged for the payment of principal and interest. There is no limitation as to the percentage of the portfolio that may be invested in this category. The maximum maturity of these securities is ten years. The City Council authorized investments in United States Treasury Issues beyond five years on September 6, 2022.

2) Federal Agency Obligations. Federal agency or United States government- sponsored enterprise obligations, participations, or other instruments, including those issued by or fully guaranteed as to principal and interest by federal agencies or United States government- sponsored enterprises. There is no limitation as to the percentage of the portfolio that may be invested in this category. However, the portfolio's exposure to any one federal agency issuer is limited to 35 percent of the overall portfolio. The limit of the overall portfolio's exposure to callable federal agency securities is 25 percent. The maximum maturity for agency securities is ten years. The City Council authorized investments in Federal Agency Obligations beyond five years on September 6, 2022.

3) Bankers' Acceptances. Bankers' acceptances, otherwise known as bills of exchange or time drafts, that are drawn on and accepted by a commercial bank.

6 institution in combination with any other debt from that financial institution shall not exceed 20 percent of the portfolio.

4) Commercial Paper. Commercial paper of "prime" quality rated "A-1" or higher, or the equivalent, by a NRSRO. The entity that issues the commercial paper shall meet all of the following conditions in either paragraph (a) or paragraph (b):

b. The entity meets the following criteria: (i) Is organized within the United States as a special purpose corporation, trust, or limited liability company. (ii) Has program wide credit enhancements including, but not limited to, overcollateralization, letters of credit, or surety bond. (iii) Has commercial paper that is rated "A-1" or higher, or the equivalent, by a nationally recognized statistical-rating organization.

Eligible commercial paper shall have a maximum maturity of 270 days or less and not represent more than 10 percent of the outstanding paper of an issuing corporation. A maximum of 25 percent of the portfolio may be invested in this category. Under a provision of the California Government Code sunsetting on January 1, 2026, no more than 40 percent of the portfolio may be invested in Commercial Paper if the Agency’s investment assets under management are greater than $100,000,000. The amount invested in commercial paper of any one issuer in combination with any other debt from that issuer shall not exceed 20 percent of the portfolio.

5) Negotiable Certificates of Deposit. Negotiable certificates of deposit (NCDs) issued by a nationally or state-chartered bank, a savings association or a federal association, a state or federal credit union, or by a state-licensed branch of a foreign bank. Purchases are limited to institutions which have long-term debt rated "A" or better and/or have short-term debt rated at least "A-1" or higher, or the equivalent by a NRSRO. A maximum of 30 percent of the portfolio may be invested in this category. The amount invested in NCDs with any one financial institution in combination with any other debt from that financial institution shall not exceed 20 percent of the portfolio. The maximum maturity of these securities is five years. 122

7 6) Time Certificates of Deposit. Time Certificates of Deposit (TCDs) placed with commercial banks and savings and loans. The purchase of TCDs from out-of-state banks or savings and loans is prohibited. The amount on deposit shall not exceed the shareholder's equity in the financial institution. To be eligible for purchase, the financial institution must have received a minimum overall satisfactory rating for meeting the credit needs of California Communities in its most recent evaluation, as provided Government Code Section 53635.2. TCDs are required to be collateralized as specified under Government Code Section 53630 et. seq. The Treasurer, at his discretion, may waive the collateralization requirements for any portion that is covered by federal (FDIC) insurance. The City shall have a signed agreement with the depository per Government Code Section 53649. The maximum maturity of these securities may not exceed one (1) year in maturity. A maximum of 10 percent of the portfolio may be invested in this category.

7) Mutual Funds and Money Market Mutual Funds that are registered with the Securities and Exchange Commission under the Investment Company Act of 1940, provided that,

a. MUTUAL FUNDS that invest in the securities and obligations as authorized under California Government Code, Section 53601 (a) to (k) and (m) to (q) inclusive and that meet either of the following criteria:
i. Attained the highest ranking or the highest letter and numerical rating provided by not less than two (2) NRSROs; or
ii. Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years’ experience investing in the securities and obligations authorized by California Government Code, Section 53601 and with assets under management in excess of $500 million. iii. No more than 10% of the total portfolio may be invested in shares of any one mutual fund.

8 ii. Have retained an investment adviser registered or exempt from registration with the Securities and Exchange Commission with not less than five years’ experience managing money market mutual funds with assets under management in excess of $500 million. iii. No more than 20% of the total portfolio may be invested in Money Market Mutual Funds.

c. No more than 20% of the total portfolio may be invested in these securities.

9) Joint Powers Authority (JPA) Pools, provided that: The JPA is organized pursuant to California Government Code Section 6509.7 and invests in the securities and obligations authorized in subdivisions (a) to (r), inclusive. Each share shall represent an equal proportional interest in the underlying pool of securities owned by the JPA. The JPA has retained an investment advisor who is registered with the SEC (or exempt from registration), has assets under management in excess of $500 million, and has at least five years’ experience investing in instruments authorized by Section 53601, subdivisions (a) to (q).

11) Asset-Backed, Mortgage-Backed, Mortgage Pass-Through Securities, and Collateralized Mortgage Obligations, from issuers not defined in the Federal Agency Obligations Subdivision. The City may purchase such securities provided that they are rated "AA" or higher, or the equivalent, by a NRSRO. Purchase of securities authorized by this subdivision may not exceed 20 percent of the portfolio, and a maximum of 5 percent per issue. The maximum maturity of these securities is five years.

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13) Supranationals provided that issues are US dollar denominated senior unsecured unsubordinated obligations issued or unconditionally guaranteed by the International Bank for Reconstruction and Development, International Finance Corporation, or Inter-American Development Bank. The securities must be rated in a rating category of “AA” or its equivalent by a NRSRO. No more than 30% of the portfolio may be invested in these securities, and no more than 10% of the portfolio may be invested in any single issuer. The maximum maturity does not exceed five (5) years.

X. AUTHORIZED INVESTMENTS FOR BOND PROCEEDS

Bond proceeds shall be invested in securities permitted by the applicable bond documents. If the bond documents are silent as to the permitted investments, bond proceeds will be invested in securities permitted by this Policy. Notwithstanding the provisions of the Policy, the percentage or dollar portfolio limitations listed elsewhere in this Policy do not apply to bond proceeds. In addition to the securities listed in Section IX above, bond proceeds may be invested in structured investment products if approved by the Treasurer.

XI. PROHIBITED INVESTMENT PRACTICES AND INSTRUMENTS

City Investments will be guided by the City’s Mission, Vision, and Values and during the annual review of the Investment Policy, the City shall review the portfolio and identify and update prohibited investments as needed.

The Intercontinental Exchange Bank of America Index Family’s classification system will be used to identify business sectors for the purpose of excluding prohibited investment types.

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10 The City will not invest in fossil fuel companies, tobacco or tobacco-related companies and companies that support the production of firearms.

The City will not invest in companies that develop or manufacture commodities that facilitate violence or war.

The City will not invest in companies that engage in border or mass surveillance industries.

The City will not invest in companies that are involved in mass incarceration or detention industries.

The City shall not make investments for the purpose of trading or speculation as the dominate criterion such as anticipation of appreciation of capital value through changes in market rates.

Any investment in a security not specifically listed as an Authorized and Suitable Investment above, but otherwise permitted by the Government Code, is prohibited without the prior approval of the City Council. Section 53601.6 of the Government Code specifically disallows investments in invoice floaters, range notes, or interest- only strips that are derived from a pool of mortgages. Under a provision of the California Government Code sunsetting on January 1, 2026, securities backed by the United States Government that could result in a zero or negative interest accrual if held to maturity are permitted.

XII. REVIEW OF INVESTMENT PORTFOLIO

The City Treasurer shall periodically, but no less than quarterly, review the portfolio to identify investments that do not comply with this investment policy and establish protocols for reporting major and critical incidences of noncompliance to the City Council.

XIII. TERM OF INVESTMENTS

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11 The maximum maturity of individual investments shall not exceed the limits set forth in under Authorized and Suitable Investments. No investment shall exceed a maturity of five years from the date of purchase unless the City Council has granted express authority to make that investment either specifically or as a part of an investment program approved by the City Council no less than three months prior to the investment.

XIV. INVESTMENT RISK

a. MARKET RISK

Market risk is the risk that the portfolio will decline in value (or will not optimize its value) due to changes in the general level of interest rates. The City recognizes that, over time, longer-term portfolios achieve higher returns. On the other hand, longer-term portfolios have higher volatility of return. The City shall mitigate market risk by providing adequate liquidity for short-term cash needs, and by making some longer-term investments only with funds that are not needed for current cash flow purposes.

The City also prohibits investments in any fossil fuel companies, tobacco or tobacco-related companies, and companies in support of the production of firearms. The City further recognizes that certain types of securities, including variable rate securities, securities with principal pay-downs prior to maturity, and securities with embedded options, will affect the market risk profile of the portfolio differently in different interest rate environments. The City, therefore, adopts the following strategies to control and mitigate its exposure to market risk:

i. The maximum stated final maturity of individual securities in the portfolio shall be five years, unless otherwise stated in this policy; ii. The City shall maintain a minimum of three months of budgeted operating expenditures in cash, cash equivalents and short-term investments; and
iii. The duration of the portfolio will typically be approximately equal to the duration of a market index, selected by the City as its performance benchmark, which meets the City's needs for cash flow and level of risk tolerance plus or minus 20%.

b. CREDIT RISK
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12 In general, the City's portfolio will be diversified to avoid incurring unreasonable and avoidable risks regarding specific security types or individual financial institutions, such as credit risk. Credit risk is the risk that a security or a portfolio will lose some or all of its value due to a real or perceived change in the ability of the issuer to repay its debt. The City shall mitigate credit risk by adopting the following strategies:
i. The diversification requirements included in Section IX are designed to mitigate credit risk in the portfolio;
ii. No more than 5% of the total portfolio may be deposited with or invested in securities issued by any single issuer unless otherwise specified in this policy.
iii. The City may elect to sell a security prior to its maturity and record a capital gain or loss in order to improve the quality, liquidity or return of the portfolio in response to market conditions or the City's risk preferences; and
iv. If a security owned by the City is downgraded to a level below the requirements of this policy, making the security ineligible for additional purchases, the following steps will be taken:

1. Any actions taken related to the downgrade by the investment manager will be communicated to the City in a timely manner.

2. If a decision is made to retain the security, the credit situation will be monitored and reported back to the City.

XV. SAFEKEEPING AND CUSTODY

Investment securities are to be purchased when possible in book-entry form in the City's name. All security transactions entered into by the City shall be conducted on a delivery-versus-payment (DVP) basis. All cash and securities in the City's portfolio shall be held in safekeeping in the City's name by a third-party bank trust department, acting as agent for the City under the terms of a custody agreement executed by the bank and the City. All investment transactions will require a safekeeping receipt or acknowledgment generated from the trade. A monthly report will be received by the City from the safekeeping institution listing all securities held in safekeeping with current market data and other information. The only exception to the foregoing shall be depository accounts and securities purchases made with: (i) local government investment pools; (ii) time certificates of deposit, and, (iii) money mutual funds, since the purchased securities are not deliverable. Term and non-negotiable instruments, such as certificates of deposit, can be held by the Treasurer, or in safekeeping as the Treasurer deems appropriate.
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13 XVI. PERFORMANCE BENCHMARK

The investment portfolio shall be designed to attain a market-average rate of return throughout budgetary and economic cycles, taking into account the City's risk constraints, the cash flow characteristics of the portfolio, and state and local laws, ordinances or resolutions that restrict investments. The Treasurer shall monitor and evaluate the portfolio's performance relative to the market benchmark, which will be included in the Treasurer's quarterly report. The Treasurer shall select an appropriate, readily available index to use as a benchmark.

XVII. REPORT INFORMATION

The Treasurer shall prepare a report to the City Council not less than semi-annually which is available each year within 60 days following December 31st and June 30th.

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14 GLOSSARY OF TERMS
ACCRUED INTEREST: Interest earned but not yet received.

AGENCIES: Federal agency securities and/or Government-sponsored enterprises.

Examples of well-known agencies that issue bonds are Federal Home Loan Mortgage Corporation (FHLMC or "Freddie Mac"), Federal National Mortgage Association (FNMA or "Fannie Mae"), and the Federal Home Loan Bank.

AMORTIZATION: An accounting practice of gradually decreasing (increasing) an asset's book value by spreading its depreciation (accretion) over a period of time.

ASKED: The price at which securities are offered.

ASSET BACKED SECURITIES: Securities supported by pools of installment loans or leases or by pools of revolving lines of credit.

BANKERS' ACCEPTANCE (BA): A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill, as well as the issuer.

BASIS POINT: One basis point is one hundredth of one percent (.0 I ).

BID PRICE: The price offered by a buyer of securities. (When you are selling securities, you ask for a bid.) See Offer.

BOND: A financial obligation for which the issuer promises to pay the bondholder a specified stream of future cash flows, including periodic interest payments and a principal repayment.

BOOK ENTRY: The system maintained by the Federal Reserve, by which most money market securities are delivered to an investor's custodial bank. The Federal Reserve maintains a computerized record of the ownership of these securities and records any changes in ownership corresponding to payments made over the Federal Reserve wire (delivery versus payment.)
BOOK VALUE: The value at which a debt security is shown on the holder's balance sheet. Book value is acquisition cost less amortization of premium or accretion of discount.
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15 BROKER: A broker brings buyers and sellers together for a commission.

CALLABLE BOND: A bond issue in which all or part of its outstanding principal amount may be redeemed before maturity by the issuer under specified conditions.

CALL RISK: The risk to a bondholder that a bond may be redeemed prior to maturity.

CERTIFICATE OF DEPOSIT (CD): A deposit insured up to $100,000 by the FDIC at a set rate for a specified period of time.

COLLATERAL: Securities, evidence of deposit or other property which a borrower pledges to secure repayment of a loan. Also refers to securities pledged by a bank to secure deposits of public monies.

COMPREHENSIVE ANNUAL FINANCIAL REPORT (CAFR): The official annual financial report for the City. It includes combined statements and basic financial statements for each individual fund and account group prepared in conformity with Generally Accepted Accounting Principles (GAAP). Supplemental information is also included including a detailed multi-year comparative statistics.

COST YIELD: The annual income from an investment divided by the purchase cost.

Because it does not give effect to premiums and discounts which may have been included in the purchase cost, it is an incomplete measure of return. 131