Agenda packet, closed session — Glendale City Council, March 31, 2026 (part 1 of 2)

A G E N D A

GLENDALE CITY COUNCIL

COUNCIL CHAMBERS
613 E. Broadway, 2nd Floor
Glendale, CA 91206
March 31, 2026
Future Agenda Requests and
Closed Session- 3:00 PM
Regular Business- 6:00 PM

PUBLIC PARTICIPATION AND ACCESSIBILITY

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PUBLIC COMMENT GUIDELINES
The City Council welcomes public input at City Council meetings. Public input at Council meetings is regulated by the City Council’s Rules of Order, Procedure and Decorum for the Conduct of City Council Meetings as set forth in Resolution No. 25-76, which will be summarized below.

Written Comments and Documents
:

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1. Name (optional); and

2. Agenda item to which you are submitting public comment

3. Submit no later than 12:00 p.m. on the day of the City Council meeting. Correspondence received after this time may not be distributed until the following business day.

All documents related to open session items on this agenda that are received less than 72 hours prior to this meeting, and are public records, will be available for review in the Office of the City Clerk, 613 E. Broadway, Room 110, Glendale, CA 91206.

Public Comments During Council Meeting
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Public Comments during Community Event Announcements, First and Second Periods of Oral Communications and agenda items will be governed as provided in the descriptions for those items on the agenda below. Pursuant to State law, the City Council may not discuss or take action on any item not appearing on the meeting agenda, except that members of the City Council or staff may ask a question for clarification or briefly respond to statements made or questions posed by persons exercising public testimony rights (Government Code Section 54954.2). Staff may be asked to follow up on such items.

Submitting Speaker Cards or Calling In for Public Comment :

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Any audio-visual files displayed by speakers must be emailed to the Clerk’s office by 12:00 pm on the day before a Council meeting.

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MARCH 31, 2026
Future Agenda Requests and
Closed Session- 3:00 PM
Regular Business- 6:00 PM

ROLL CALL

1. DISCUSSION OF COUNCILMEMBER FUTURE AGENDA REQUESTS
– 1:00 PM (T o
Commence at 3:00 PM
)
a.

Request from Mayor Ara Najarian to Agendize a Discussion on Land Leases for Existing Cultural Statues on City Property

2. CLOSED SESSION
– 1:00 PM (T o Commence at 3:00 PM
)
a.

Conference with Legal Counsel – Existing Litigation: Grigoryan v. City of Glendale, L.A.S.C. Case No. 23GDCV02248
b.

Conference with Legal Counsel – Existing Litigation: Baca v. City of Glendale, L.A.S.C. Case No. 25PSCV00598
c.

Conference with Legal Counsel – Anticipated Litigation: Initiation of Litigation pursuant to paragraph (4) of subdivision (d) of Government Code Section 54956.9: 1 potential case

3. REGULAR BUSINESS AGENDA
– 3:00 PM
Roll Call
a.

Flag Salute: Mayor Ara Najarian
b.

Invocation:
will be delivered by
Rabbi Rick Schechter
,
Temple Sinai of Glendale
c.

Report of the City Clerk, re: Posting of Agenda. The Agenda for the March 31, 2026 Regular Meeting of the Glendale City Council was Posted on March 26, 2026, on the Bulletin Board Outside City Hall.

4. PRESENTATIONS AND APPOINTMENTS
a.

Mayor’s Medal of Honors
b.

Pasadena Humane Presentation: Wildlife Safety

5. CONSENT ITEMS
(Including Minutes)
The following are routine and may be acted upon by one motion. Any Member of Council or the audience requesting separate consideration may do so by making such request before motion is proposed.
a.

Public Works, re: Adopt Plans and Specifications for the District 12 ADA Curb Ramp Installation and Sidewalk Repair (ADA) Project and the District 12 Pavement Management Program Implementation (PMP) Project

1. Resolution adopting the plans and specifications for the District 12 ADA Project, Specification No. 4039, and the District 12 PMP Project, Specification No. 3965, and Plan Nos. 1-3119, 2-419, 49-269; and directing the City Clerk to advertise for bids

2. Resolution authorizing the establishment and recordation of public street easements over certain privately owned parcels historically used as public streets and sidewalks, and suspending any City-imposed fees for said documentation and recording in

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connection with current and future Capital Improvement Program (CIP) projects b.

Public Works, re:

Award Construction Contract for West Glendale ADA Curb Ramp Installation and Sidewalk Repair Project Phase II

1. Motion awarding a construction contract to CJ Concrete Construction, Inc. in the amount of $3,444,149, approving a 20 percent construction reserve in the amount of $688,830, and authorizing the City Manager or a designee to execute the contract

2. Resolution of appropriation, to appropriate funds in the amount of $4,305,186 for the West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2 c.

Public Works, re:

Authorizing a Five-Year General Services Agreement with the County of Los Angeles

1. Motion to authorize the City Manager, or his designee, to enter into and execute a General Services Agreement (GSA) with the County of Los Angeles for the period of July 1, 2026 through June 30, 2031, to allow the City to utilize County services on an as-needed and as-requested basis, and to authorize the City Manager, or his designee, to execute any sub-agreements for specific services under the GSA d.

Police Department, re: To accept additional grant funding from the United States Department of Homeland Security FY 2023 Urban Area Security Initiatives (UASI) Grant Program

1. Motion to accept additional grant funds in the amount of $280,000 and authorize the City Manager, or a designee, to execute an amendment to the Sub-Recipient agreement with the City of Los Angeles for the award of funds under the FY 2023 UASI grant program

2. Resolution of Appropriation to appropriate $280,000 from the Urban Area Security Initiatives (UASI) Grant Program grant revenue
e.

Public Works, re:

Plans and Specification for the 2026 Sewer Lining Project and On- Call Sewer and Storm Drain Lining Services

1. Resolution adopting the plans and specification for the 2026 Sewer Lining Project and On-Call Sewer and Storm Drain Lining Services, Specification No. 3976 and Plan Nos. 3-1590 and 3-1595; and directing the City Clerk to advertise for bids f.

City Attorney, re:

Amendment to the City’s existing Legal Services Agreement with Best Best & Krieger, LLP (BBK) and r
equest for conflict-of-interest Waiver in Legal
Representation by BBK

1. Motion authorizing the City Manager, the City Attorney, or their designees, to enter into and execute an amendment to the existing Legal Services Agreement with BBK, Contract No. 8001628, in the amount of $50,000, for a new not to exceed amount of $200,000, in order for BBK to provide legal services related to the Grayson Repowering Project’s permit variance application before the South Coast Air Quality Management District

2. Motion authorizing the City Attorney to consent to and execute a Conflict-of-Interest Waiver for BBK’s representation of the South Coast Air Quality Management District in unrelated matters

6. CITY COUNCIL/STAFF COMMENTS
(Including reports from conferences and regional
meetings)

7. COMMUNITY EVENT ANNOUNCEMENTS
(3-minutes per speaker)
Members of the public will be permitted to announce upcoming events taking place in the community.

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8. FIRST PERIOD OF ORAL COMMUNICATIONS
(Maximum 3 minutes per speaker, 30-minute
aggregate speaking time limit)
Members of the public may address the Council on agenda items or non-agenda items within the City Council’s subject matter jurisdiction. If a speaker addresses the Council on an agenda item during the First Period of Oral Communications, they may not speak again when the agenda item is called. A speaker who addresses the Council on non-agenda items during the First Period of Oral Communications may not speak during the Second Period of Oral Communications.

9. ADOPTION OF ORDINANCES
a.

Glendale Water and Power, re: Glendale Water and Power (GWP) Electric Revenue Refunding Bonds 2026 - Adoption of Ordinance and Authorizing Issuance of Bonds and Adoption of Resolution Authorizing the Invitation of Bids and Various Actions Relating to the Issuance of the Bonds (Brotman, 3/10/2026)

1. Ordinance authorizing the issuance by the City of not to exceed $45,000,000 Aggregate Principal Amount of City of Glendale Electric Revenue Bonds, 2026 Refunding Series, Payable out of the Electric Works Revenue Fund, and approving certain other actions in connection therewith

2. Resolution authorizing the invitation of bids for the purchase of Electric Revenue Bonds, 2026 Refunding Series of the City of Glendale; approving a Notice of Intention to Sell bonds, a Preliminary Official Statement (POS), a Notice Inviting Bids and Official Bid Form; authorizing the publication of a Notice of Intention to Sell Bonds; authorizing the execution and delivery of a final Official Statement, a Twelfth Supplement to Indenture of Trust, a Continuing Disclosure Agreement, and an Escrow Agreement; and authorizing the award of the Bonds

10. ACTION ITEMS
a.

Public Works, re:

Construction Contract Amendment for the On-Call Sewer and Storm Drain Repair Services

1. Motion authorizing the City Manager or a designee to execute a contract amendment to Contract No. 8002780 with W. A. Rasic Construction Company, Inc. increasing the contract amount by $2,000,000 for the remaining two years of the contract term, for a total not-to-exceed contract amount of $3,200,000

2. Resolution of appropriation to appropriate funds in the amount of $1,750,000 for the On-Call Sewer and Storm Drain Repair Services
b.

Glendale Water and Power, re: Water Master Plan Update and Amendment to the Professional Services Agreement with Arcadis U.S., Inc.

1. Motion to Note and File Water Master Plan Update

2. Motion authorizing the City Manager, or his designee, to enter into and execute an amendment to the existing Professional Services Agreement (PSA) Contract No. 8002793, with Arcadis U.S., Inc. (Arcadis), to increase the contract amount by $127,211 in order for Arcadis to provide additional services related to the development of a comprehensive Water Master Plan, for a new contract not-to-exceed amount of $1,324,103
c.

Public Works, re:

Consideration of Regulations for Personal Delivery Devices (PDDs) Operating Within the Public Right-of-Way
1) Motion providing direction regarding one of the following options:

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a. Initiate development of a permanent ordinance regulating PDDs b. Direct staff to prepare a limited pilot program prior to adopting permanent regulations; or
c. Note and file this report and defer action pending further regional coordination and monitoring
d.

Fire Department, re:

Public Provider Ground Emergency Transportation Inter-
Governmental Transfer (PP-GEMT-IGT) Program Appropriation Adjustment Request

1. Resolution of appropriation to approve an increased to cover the City’s required Inter- Governmental Transfer (IGT) payments associated with the PP-GEMT-IGT Program

11. HEARINGS

12. REPORTS - INFORMATION

13. WRITTEN COMMUNICATIONS

14. SECOND PERIOD OF ORAL COMMUNICATIONS
Discussion is limited to items NOT a part of this agenda. Each speaker is allowed 5 minutes.

Council may question or respond to the speaker, but there will be no debate or decision. The City Manager may refer the matter to the appropriate department for investigation and report.

15. NEW BUSINESS

16. ADJOURNMENT

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26-89502

CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Adopt Plans and Specifications for the District 12 ADA Curb Ramp Installation and Sidewalk Repair (ADA) Project and the District 12 Pavement Management Program Implementation (PMP) Project.
1) Resolution adopting the plans and specifications for the District 12 ADA Project, Specification No. 4039, and the District 12 PMP Project, Specification No. 3965, and Plan Nos. 1-3119, 2-419, 49-269; and directing the City Clerk to advertise for bids.
2) Resolution authorizing the establishment and recordation of public street easements over certain privately owned parcels historically used as public streets and sidewalks, and suspending any City-imposed fees for said documentation and recording in connection with current and future Capital Improvement Program (CIP) projects.

COUNCIL ACTION
Item Type: Consent Calendar
Approved for March 31, 2026 calendar

EXECUTIVE SUMMARY
The construction plans and specifications have been completed for the District 12 ADA and the District 12 PMP Projects. These projects will upgrade street surfaces and pedestrian facilities throughout the project areas.

Additionally, there are portions of several privately owned parcels that have been historically and continuously utilized as sidewalks and streets, without the benefit of formally recorded public easements.

The intent of this report is to request City Council approval of the attached resolutions, adopt the project plans and specifications, authorize the City Clerk to advertise for bids, and authorize the establishment and recordation of public street easements over certain privately owned parcels historically used as public streets and sidewalks, and suspend any City-imposed fees for said documentation and recording in connection with current and future Capital Improvement Program (CIP) projects.
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RECOMMENDATION
Approve the resolution to adopt the plans and specifications for the District 12 ADA Project and the District 12 PMP Project, and to direct the City Clerk to advertise for bids; and approve the resolution to formally establish and record public street easements over the identified privately owned parcels that have been historically and continuously used for sidewalks and streets. This approval will ensure proper legal recognition of existing public access, support current and future CIP projects, and authorize the suspension of all associated documentation and recording fees for the affected property owners.

ANALYSIS
The Public Works Department maintains a robust CIP that is guided by multiple action plans accepted or adopted by the city, as well as the PMP, that is certified and updated every three to five years; and was most recently updated in 2025 following a comprehensive and automated analysis.

The capital improvements planned at various locations within Maintenance District 12 are part of the city’s annual effort to improve the sidewalk conditions, enhance pedestrian safety and accessibility, and rehabilitate roadway pavements in residential neighborhoods.

During a recent bid process, staff reassessed the CIP delivery strategy and identified an opportunity for significant cost savings by dividing the work into two separate efforts:
one addressing concrete improvements and the other focused on asphalt pavement improvements. As a result, the improvements planned in Maintenance District 12 were divided into two separate projects. The District 12 ADA Project will focus on concrete improvements, including the construction of new ADA-compliant curb ramps and the removal and replacement of damaged sidewalks, curbs and gutters, driveways, cross gutters, and alley aprons. The District 12 PMP Project will focus on pavement improvements by rehabilitating the roadways using various pavement treatment methods.

Street resurfacing involves the rehabilitation of existing street pavement that has deteriorated beyond normal maintenance work. It typically consists of the removal of the top 2-inches of existing Asphalt Concrete (AC) pavement, followed by either the placement of 1.5-inches of Asphalt Rubber Hot Mix (ARHM) pavement wearing surface over a 0.5-inch to variable thickness AC leveling course; or the placement of 2-inches of ARHM pavement wearing surface. This method improves the ride of the roadway, the structural integrity of the pavement, and begins a new service life for the street.

Asphalt Rubber Aggregate Membrane (ARAM) System III involves the rehabilitation of existing street pavement that has deteriorated beyond normal street resurfacing methods. It typically consists of the removal of the top 2-inches of existing AC pavement, followed by the placement of 1.5-inches of ARHM pavement wearing surface, over ½-inch AC leveling course, over a 3/8-inch ARAM surface. This method 8 of 280

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improves the ride of the roadway, the structural integrity of the pavement, and begins a new service life for the street.

Slurry seal is a cost-effective pavement preservation treatment that extends the service life of existing roadways by sealing the pavement surface and slowing further deterioration. It improves ride quality, restores skid resistance, and protects the underlying pavement structure from moisture intrusion and oxidation. This treatment consists of the application of a uniform slurry mixture of asphalt emulsion, fine aggregate, mineral filler, and additives over the existing pavement surface. Slurry seal is typically used on pavements exhibiting minor cracking, raveling, and surface oxidation, and is intended for streets that remain structurally sound but require preventive maintenance rather than structural rehabilitation.

Project Location
The projects are located in Maintenance District 12.

Project Scope
The District 12 ADA Project scope includes the following:
Selective removal, repair, and reconstruction of approximately 13,650 linear feet of damaged and/or new curbs and gutters, and 82,500 square feet of sidewalks, driveways, cross gutters, alley aprons, and local depressions. Construction and modification of 87 curb ramps to meet ADA guidelines; and, Realignment of the following skewed Intersections to improve pedestrian safety and driver sight distance:
oBoston Avenue and Fifth Avenue
oBoston Avenue and Second Avenue
oHermosa Avenue and Pennsylvania Avenue
oPontiac Street and Lauderdale Avenue
oLos Amigos Street and Lauderdale Avenue
oEl Caminito Avenue and Lauderdale Avenue
The District 12 PMP Project scope includes the following:
Application of approximately 1.8 centerline miles of emulsion aggregate slurry over ARAM (ARAM System I);
Approximately 4.1 centerline miles of surface grinding and placement of ARHM; Approximately 3 centerline miles of surface grinding and placement of ARHM over AC leveling course and ARAM (ARAM System III);
Selective removal/reconstruction of deteriorated pavement and placement of asphalt concrete and Portland cement concrete pavement; Adjustment of existing manholes, utility valves, and water meters to finished grade; and
Removal and replacement of existing traffic striping and pavement markings. 9 of 280

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Americans with Disabilities Act (ADA)
The District 12 ADA Project will focus on concrete improvements, including the construction of new ADA-compliant curb ramps and the removal and replacement of damaged sidewalks, curbs and gutters, driveways, cross gutters, and alley aprons. The District 12 PMP Project will focus on pavement improvements by rehabilitating the roadways using various pavement treatment methods.

Easement Documentation
During the design phase for the District 12 ADA and PMP Projects, staff identified portions of several privately owned parcels that have been historically and continuously used as public sidewalks and streets, and that also contain existing public utilities, but lack formally recorded public street easements. This condition creates a legal and administrative gap that could complicate the city’s ability to construct, maintain, and invest in sidewalks, streets, and utility infrastructure as part of the District 12 ADA and PMP Projects and any future CIP projects. Recording public street easements will formalize long-standing public access and utility presence, provide clear authority for operations, maintenance, and capital improvements, and reduce the risk of project delays or disputes related to property rights. Suspending any City-imposed fees for easement documentation, specifically the Easement Preparation Fee (currently $805.00) and the Legal Description Review Fee (Varies; $400.00 minimum) and recording fees for affected property owners is appropriate and equitable, as the easements reflect existing public use rather than a new private benefit. The fee suspension will facilitate property owner cooperation, minimize administrative barriers, and support the timely and efficient delivery of this project and future infrastructure improvements.

Competitive Bidding Process
To ensure competitive bids, the city will advertise these projects on multiple plan holders’ websites, which publish project bidding documents, distribute the information to their extensive network of contractors, and construction industry contacts.

These projects will also be advertised in a local newspaper, the Glendale Independent, prior to bid opening, as well as on BidNet Direct, which is a web-enabled data service to the public sector, for the dissemination of the building and construction project proposals to their large number of member contractors and consultants.

Finally, the project bidding documents will also be posted on the City’s website.

The construction of the District 12 ADA Project is anticipated to begin in August 2026 and is scheduled for completion by January 2027. The construction of the District 12 PMP Project is anticipated to begin in February 2027 and is scheduled for completion by April 2027.

STAKEHOLDERS/OUTREACH
Approximately 8,250 notifications were sent to property owners and occupants along the project limits notifying them of the in-person and virtual community meeting for both projects on January 15, 2026 at 6:00 p.m. The in-person and virtual community meeting was also broadcast on the City’s YouTube channel. During the meeting, the 10 of 280

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public was informed of the project details, construction schedule, future city and contractor notifications, and the impacts of the construction work in their neighborhood. Participants also had the opportunity to phone in and provide their comments and/or ask questions regarding the project.

Approximately one month before the commencement of construction of each project, staff will prepare a notification postcard containing essential project details including a link to the project website. The postcard will be sent by mail to the residences and businesses that will be affected by the construction. Additionally, the contractor will be responsible for distributing door hangers to the affected addresses. The door hangers will be provided one week prior to the start of any construction activity within the project area.

Furthermore, outreach on these projects continue to occur through social media and dedicated project websites that are hosted through the City of Glendale domain. The website familiarizes the public to the projects and to the project team, explains the scope of work and project locations, and provides the public with staff contact information for questions, discussion, and/or input.

FISCAL IMPACT
Suspending City-imposed fees for easement documentation and recording for affected property owners will result in the City not collecting the Easement Preparation Fee ($805.00) and the Legal Description Review Fee (Varies; $400.00 minimum) per address, since the easements reflect existing public use rather than a new private benefit.

The current engineer’s estimate for the construction of the District 12 ADA Project is between $3,500,000 and $4,000,000, and the current engineer’s estimate for the construction of the District 12 PMP Project is between $7,700,000 and $8,400,000, which were not included as part of the FY 2025-26 budget. Therefore, staff will request appropriations for each project from the Gas Tax Fund(4020) at the time of contract award based on the lowest responsive bid received from a responsible bidder.

ENVIRONMENTAL REVIEW (CEQA/NEPA)
The Project is categorically exempt from environmental review because of CEQA Guidelines §§ 15301.

CAMPAIGN DISCLOSURE
This item is exempt from campaign disclosure requirements.

ALTERNATIVES TO STAFF RECOMMENDATION
Do not approve the resolution adopting the plans and specifications for the District 12 ADA Project and the District 12 PMP Project or the resolution to formally establish and record public street easements over the identified privately owned parcels. Doing so, however, will not improve the condition of the city’s sidewalks and streets, and the city may lack the legal authority to construct, maintain, or improve existing streets, 11 of 280

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sidewalks, and utilities in the affected areas, potentially resulting in project delays, increased costs, and limited public access for the District 12 ADA and PMP Projects and future CIP projects.

ADMINISTRATIVE ACTION
Submitted by:

Daniel Hernandez, Director of Public Works
Prepared by:

Huang Zheng, P.E., Civil Engineer II
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
Exhibit 1: Project Location Map
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RESOLUTION NO. __________

A RESOLUTION OF THE COUNCIL OF THE CITY OF GLENDALE, CALIFORNIA

ADOPTING THE PLANS AND SPECIFICATIONS FOR THE
DISTRICT 12 ADA CURB RAMP INSTALLATION AND SIDEWALK REPAIR PROJECT, SPECIFICATION NO. 4039, AND THE DISTRICT 12 PAVEMENT MANAGEMENT PROGRAM IMPLEMENTATION PROJECT, SPECIFICATION NO. 3965, AND PLAN NOS. 1-3119, 2-419, 49-269, AND DIRECTING THE CITY CLERK TO ADVERTISE THE PROJECTS FOR BIDS.

BE IT RESOLVED BY THE COUNCIL OF THE CITY OF GLENDALE:

SECTION 1.The Plans and Specifications on file in the City Clerk’s office for the District 12 ADA Curb Ramp Installation and Sidewalk Repair Project and the District 12 Pavement Management Program Implementation Project, including the various documents incorporated therein, are hereby approved, adopted, designated, and shall hereafter be known as Specification No. 4039 for the District 12 ADA Curb Ramp Installation and Sidewalk Repair Project and Specification No. 3965 for the District 12 Pavement Management Program Implementation Project, and Plan Nos. 1-3119, 2-419, 49-269.

SECTION 2.The City Clerk is hereby directed to advertise for bids for the work, equipment, and materials described in the Plans and Specifications adopted by this Resolution.

Adopted this _____ day of ____________, 2026.
____________________________
Mayor, City of Glendale
ATTEST:
__________________________
City Clerk
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STATE OF CALIFORNIA )

COUNTY OF LOS ANGELES )

CITY OF GLENDALE )
I, Suzie Abajian, Ph.D., City Clerk of the City of Glendale, certify that the foregoing Resolution No. _____________ was adopted by the Council of the City of Glendale, California, at a regular meeting held on the _____ day of _________________, 2026, the same was adopted by the following vote:

Ayes:

Noes:

Absent:

Abstain:
___________________________
City Clerk
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RESOLUTION NO. __________

A RESOLUTION OF THE COUNCIL OF THE CITY OF GLENDALE, CALIFORNIA

AUTHORIZING THE ESTABLISHMENT AND RECORDATION OF PUBLIC STREET

EASEMENTS OVER CERTAIN PRIVATELY OWNED PARCELS HISTORICALLY

USED AS PUBLIC STREETS AND SIDEWALKS, AND WAIVING ALL

ASSOCIATEDDOCUMENTATION AND RECORDING FEES IN CONNECTION WITH

CURRENT AND FUTURE CAPITAL IMPROVEMENT PROGRAM PROJECTS WHEREAS, during the design phase for various Capital Improvement Program projects, the Public Works staff has and does discover portions of several privately owned parcels that have been historically and continuously utilized by the public as streets and sidewalks, without the benefit of formally recorded public street easements; and
WHEREAS, this condition creates a legal and administrative gap that could complicate the city’s ability to construct, maintain, and invest in sidewalks, streets, and utility infrastructure, including but not limited to the District 12 ADA Curb Ramp Installation and Sidewalk Repair Project and the Pavement management Program Implementation Project and any future CIP projects; and WHEREAS, the establishment and recordation of public street easements over these areas is necessary to ensure proper legal recognition, preserve continued public access, and support the orderly design, construction, operation, and maintenance of public infrastructure improvements; and
WHEREAS, City Council finds that the suspension of City-imposed fees associated with the preparation, review and recordation of such easements—including but not limited to, the Easement Preparation Fee (currently $805.00) and the Legal Description Review Fee (Varies; $400.00 minimum) and applicable recording fees—is appropriate and equitable, as the easements reflect existing public use rather than conferring a new or exclusive private benefit upon the affected property owners; and WHEREAS, the City Council further finds that waiving such fees will facilitate timely acquisition and recordation of necessary easements, thereby promoting the public health, safety, and welfare and ensuring the efficient delivery of critical infrastructure project.

NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE CITY OF GLENDALE:

1. Good cause exists to suspend and waive all applicable City-imposed fees associated with the preparation, review, and recordation of public street easements required for Capital Improvement Projects; and 15 of 280

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5 2. The City Council hereby directs staff to implement such fee waivers for all qualifying easements consistent with this resolution.

Adopted this _____ day of ____________, 2026.
____________________________
Mayor, City of Glendale
ATTEST:
__________________________
City Clerk

STATE OF CALIFORNIA )

COUNTY OF LOS ANGELES )

Ayes:

Noes:

Absent:

Abstain:
___________________________
City Clerk
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LOWELL AVE.

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LOWELL AVE.

GLENCOVE AVE.

BURRITT WY.

SKYVIEW LN.

BRITTANY LN.

DAY ST.

ACAMPO AVE.

VERWOOD AVE.

REYNARD AVE.

MARKRIDGE RD.

EL CAMINO ST.

LOS AMIGOS ST.

EL MORENO ST.

LOS OLIVOS LN.

PONTIAC ST.FOOTHILL BLVD.

FOURTH AVE.

ABELLA ST.

COMMUNITY AVE.

FOOTHILL BLVD.

NEW YORK AVE.

PENNSYLVANIA AVE.

NEW YORK AVE.

FRANKLIN ST.GLENCOVE AVE.

SECOND AVE.

FIFTH AVE.

ALTURA AVE.

MARYANN ST.

DANNY DR.REBECCA AVE.

EL CAMINITO ST.

FREDERICK AVE.

FINEHILL AVE.

HENRITETTA AVE.

DUNSMORE AVE.DUNSMORE AVE.

LAUDERDALE AVE.

FAIRESTA ST.

WILLALEE
AVE.

ALLEY 140
THELMA ST.

ALLEY 138
BOSTON AVE. BOSTON AVE.

COUNTY OF LOS ANGELES

CITY OF LOS ANGELESCITY OF GLENDALE
SKY RIDGE RD.

N
DISTRICT 12

PAVEMENT MANAGEMENT PROGRAM

IMPLEMENTATION PROJECT
LEGEND

OVERLAY/RESURFACING

SLURRY SEAL

CITY LIMITS
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FORESTGLEN
DR.

BEECHGLEN
DR.

BOSTON AVE.

FERNTREE
PL.

TANBARK
PL. HONOLULU AVE.

ENCINAL AVE.

HONOLULU AVE.

PARKVISTA DR.

PARKVISTA PL.

NEW YORK AVE.

PENNSYLVANIA AVE.

I-210 FWY
I-210 FWY
LA CRESCENTA AVE.

COUNTY OF LOS ANGELES

CITY OF LOS ANGELES
MONTROSE AVE.

MANHATTAN AVE.HERMOSA AVE.

CLOUD AVE.

GLENWOOD
AVE.

CAMANNAVE.

SHIRLYJEAN
AVE.

EMANUEL DR.EILINITA AVE.

DOLORITA AVE.

LIBERTY AVE.

MILLS
AVE.

PIEDMONT AVE.

ALLEY 132
DUNSMORE AVE.

FREDERICK
AVE.

CEDARBEND DR.

EL LADO DR.

PENNSYLVANIA AVE.

N
DISTRICT 12

PAVEMENT MANAGEMENT PROGRAM

IMPLEMENTATION PROJECT
LEGEND

OVERLAY/RESURFACING

SLURRY SEAL

CITY LIMITS

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5b
26-89503

CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Award Construction Contract for West Glendale ADA Curb Ramp Installation and Sidewalk Repair Project Phase II
1) Motion awarding a construction contract to CJ Concrete Construction, Inc. in the amount of $3,444,149, approving a 20 percent construction reserve in the amount of $688,830, and authorizing the City Manager or a designee to execute the contract.

2) Resolution of appropriation, to appropriate funds in the amount of $4,305,186 for the West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2.

COUNCIL ACTION
Item Type: Consent Calendar
Approved for March 31, 2026 calendar

EXECUTIVE SUMMARY
The West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2 (Project) will repair damaged sidewalks and other infrastructure, improving safety and accessibility in the city.

On January 21, 2026, nine bids were received for the Project and after a thorough review, staff found CJ Concrete Construction, Inc.’s (CJ) bid to be a responsive bid from a responsible bidder.

The intent of this item is for the City Council to award a contract to CJ that will cost $3,444,149 with a 20 percent construction reserve of $688,830, totaling $4,132,979.

Additionally, a resolution of appropriation is needed to appropriate funds from the San Fernando Corridor Tax Share Fund to fund this project.

RECOMMENDATION
Approve the motion authorizing a construction contract with CJ for the West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2, in the amount of $3,444,149 plus a 20 percent construction reserve of $688,830 and approve the resolution of appropriation to appropriate funds in the amount of $4,305,186 from the San Fernando Corridor Tax Share Fund for the Project.
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ANALYSIS
As part of the Public Works Department’s ongoing efforts to improve the condition of the city’s sidewalks, the plan and specifications were prepared for the West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2.

The project locations for the improvements are Maintenance Districts 10 and 11.

Project Scope
Selective removal, repair, and reconstruction of damaged curbs, gutters, sidewalks, driveways, cross gutters, and alley aprons;
Selective removal, repair, and reconstruction of damaged asphalt and Portland cement concrete pavements;
Installation of new ADA compliant curb ramps where none existed; and Modification and reconstruction of existing ramps to meet current ADA standards.

On December 9, 2025, the City Council adopted the project plan and specifications and authorized the City Clerk to advertise the project for bids. The project was advertised in the Glendale Independent, the city’s website, as well as various online platforms.

On January 21, 2026, the city received nine bids as follows:

1. CJ Concrete Construction, Inc. $3,444,149

2. Kalban, Inc. $3,719,487

3. Gentry General Engineering, Inc. $3,846,911

4. FS Contractors, Inc. $3,883,207

5. Calmex Engineering, Inc. $3,998,136

6. Palp, Inc. $5,459,820

7. Toro Enterprises, Inc. $5,707,259

8. Onyx Paving Company, Inc. $6,369,000

9. Addison-Miller, Inc. $6,500,473
Upon reviewing the bid documents, staff finds the bid of CJ of $3,444,149 to be the lowest responsive bid from a responsible bidder. The bid of CJ in the amount of $3,444,149 is approximately 37% below the Engineer’s Estimate of $5,500,000.

On February 12, 2026, Kalban, Inc. submitted a formal bid protest opposing the award of the project to CJ, asserting that CJ is a non-responsive and non-responsible bidder.

Following a thorough review and investigation of the protest allegations with the City Attorney’s office, staff determined that CJ’s bid remains the lowest responsive bid from a responsible bidder.

Staff also recommend establishing a construction reserve in the amount of $688,830, or 20 percent of the bid amount, based on previous experience with similar projects and is 20 of 280

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in conformance with the nature of this project. This reserve will allow the city to address additional, incidental, unforeseen, or necessary work identified during construction, including related improvements within and adjacent to the project limits when it is in the city’s best interest to do so. This approach enables the city to take advantage of economies of scale while reducing the likelihood of future mobilizations, disruptions, and added costs. It also provides flexibility to respond to unforeseen field conditions that could not be fully identified during the design phase, such as uplifted sidewalks, damaged driveway aprons, broken curbs and gutters, or other site conditions encountered between completion of design and the start of construction, and to complete any resulting nearby improvements efficiently under the current contract.

Furthermore, staff has budgeted approximately five percent of the construction bid amount, or $172,207, for construction management and engineering support services such as project management, engineering, construction inspection, quality assurance and control.

West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2
Construction Bid $ 3,444,149
20% Construction Reserve $ 688,830
5% Construction Management & Engineering Support $ 172,207 Total Construction Cost $ 4,305,186
The State of California Contractor’s State License Board website confirms that the license of CJ is current, active, and in good standing. Additionally, staff contacted the references provided by CJ and found they had satisfactorily completed their projects.

The construction of this project is anticipated to begin in June 2026 and is scheduled for completion by November 2026.

STAKEHOLDERS/OUTREACH
The contractor will be responsible for distributing two distinct door hangers to the affected addresses. One set of door hangers will be provided two weeks prior to the start of any construction activity within the project area, while the second set will be distributed three days before construction begins.

Furthermore, outreach on this project continues to occur through social media and a dedicated project website that is hosted through the City of Glendale domain. The website familiarizes the public with the project and project team, explains the scope of work and project locations, and provides the public with staff contact information for questions, discussion, and/or input.

FISCAL IMPACT
The construction of the Project will cost $4,305,186, which was not included in the FY 2025-26 budget. Therefore, staff is requesting an appropriation from the San Fernando Corridor Tax Share Fund, as outlined below. The San Fernando Corridor Tax Share 21 of 280

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Fund is designated for improvements to San Fernando Road and its surrounding streets. This project qualifies for funding under this program as the proposed streets are located in the eligible area.

Requesting Appropriation
Amount From (Account
String) To (Account String) Funding Source
$4,305,186 GL: 24223-4100-
CDD-0000
GL:52100-4100-CDD-
0020-P0000-
PL:PWD01564AN
San Fernando
Corridor Tax
Share Fund
Department Cost Center Program
Community
Development Projects

ENVIRONMENTAL REVIEW (CEQA/NEPA)
The Project is categorically exempt from environmental review because of CEQA Guidelines §15301.

CAMPAIGN DISCLOSURE
This item is exempt from campaign disclosure requirements.

ALTERNATIVES TO STAFF RECOMMENDATION
Do not approve the motion authorizing a construction contract and resolution of appropriation for the West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2. Doing so, however, will not improve the condition of the City’s sidewalks.

ADMINISTRATIVE ACTION
Submitted by:

Daniel Hernandez, Director of Public Works
Prepared by:

Huang Zheng, P.E., Civil Engineer II
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
Exhibit 1: Project Location Map
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MOTION
Moved by Council Member , seconded
by Council Member , that the Council of the City of
Glendale hereby:

1. Authorizes the City Manager, or his designee, to execute a construction contract – subject to approval by the City Attorney – with CJ Concrete Construction, Inc. for the West Glendale ADA Curb Ramp Installation and Sidewalk Repair Program Phase 2, Specification No. 4007, in the amount of $3,444,149.00.

2. Authorizes a 20 percent construction reserve, equal to $688,830.

Votes as follows:

Ayes:

Noes:

Absent:

Abstain:

City Clerk
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RESOLUTIONNO.

RESOLUTIONOFTHECOUNCILOFTHECITYOFGLENDALE

MAKINGANAPPROPRIATION
BEITRESOLVEDBYTHECOUNCILOFTHECITYOFGLENDALE:

SECTION1:Thatthesumof$4,305,186isherebyappropriatedand/ortransferredfromthefollowing accountstothefollowingaccounts:

ACCOUNTSDESCRIPTIONFROMTO
242234100-CDD-0000CapitalProjects,SFCorridorTaxShare$4,305,186 Fund,CommunityDevelopment
52100-4100-CDD-0020-P0000Construction.SFCorridorTaxShareFund, PWDO1564ANCommunityDevelopment,Projects,$4,305,186
WGlendaleADACurbRamp2-4100
ToappropriatefundingforconstructionoftheWestGlendaleADACurbRampInstallationandSidewalk RepairProgramPhase2.

SECTION2:TheDirectorofFinanceisauthorizedtomakesuchotherrevisions,individualappropriation line-items,changesinsummaries,fundtotals,grandtotals,andotherportionsofthebudgetdocumentas necessarytoreflectandimplementthechangesspecifiedinthisresolution.

SECTION3:TheCityClerkshallcertifytotheadoptionofthisResolution.

Adoptedthisdayof
________________,
2026.

Mayor
ATTEST:

CITYOFGLENDALE
itffDATE3/18/2026
___________________________

APPROVEDASTOFINANCIAL
CityClerkPROVISIONFORS4,305,186
w
DirectorofFinance

STATEOFCALIFORNIA)

COUNTYOFLOSANGELES)SS

CITYOFGLENDALE)
I,SuzieAbajian,CityClerkoftheCityofGlendale,doherebycertifythattheforegoingResolution No.wasadoptedbytheCounciloftheCityofGlendale,Califomia,ataregularmeetingheldon the__________dayof
________________,
2026,andthatthesamewasadoptedbythefollowingvote:

Ayes:

Noes:

Absent:

Abstain:

CityClerk
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N
GLENOAKS BLVD.

GRANDVIEW AVE.

GLENOAKS BLVD.

SAN FERNANDO RD.

FLOWER ST.

SAN FERNANDO RD.

DANA ST.

STANDARD AVE.HALE ST.

AIR WY.

GRAND CENTRAL AVE.

JUSTIN AVE.

RUBERTA AVE.

PAULA AVE.

HAZEL ST.

CIRCLE SEVEN
TRUITT
ST.

ARISTO
ST.

BLOSSOM
ST.

DAVIS AVE.

COSMIC WY.

ALLEN AVE.

LINDEN AVE.

ELM AVE.

IRVING AVE.

WESTERN AVE.

THOMPSON AVE.

COSMIC WY.

THOMPSON AVE.

Exhibit 1
Project Location Map
West Glendale ADA Curb Ramp Installation and
Sidewalk Repair Program Phase 2
LEGEND

PROJECT LOCATIONS

CITY BOUNDARY
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5c
26-89571

CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Authorizing a Five-Year General Services Agreement with the County of Los Angeles
1) Motion to authorize the City Manager, or his designee, to enter into and execute a General Services Agreement (GSA) with the County of Los Angeles for the period of July 1, 2026 through June 30, 2031, to allow the City to utilize County services on an as-needed and as-requested basis, and to authorize the City Manager, or his designee, to execute any sub-agreements for specific services under the GSA.

COUNCIL ACTION
Item Type: Consent Calendar
Approved for March 31, 2026 calendar

EXECUTIVE SUMMARY
The County of Los Angles has requested that the City renew its standard five-year GSA for the period of July 1, 2026 through June 30, 2031. The GSA enables the City of Glendale to request and utilize a wide range of County services on an as-needed and as-requested basis.

The agreement is general in nature and establishes the legal framework under which specific services may be requested. It does not authorize the expenditure of funds for an individual service. Any specific service requiring City funding would be subject to separate authorization.

Renewal of the agreement ensures continuity of services historically provided by the County and preserves the City’s flexibility to request assistance when needed.

RECOMMENDATION
Approve the motion to authorize the City Manager to execute a five-year GSA with the County of Los Angeles for the period of July 1, 2026 through June 30, 2031 and authorize the City Manager, or his designee, to execute any sub-agreements for specific services under the GSA.
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ANALYSIS
The County of Los Angeles maintains a standard GSA that is used with cities throughout the County. The agreement establishes terms and conditions under which the County may provide miscellaneous services upon written request by the City.

The City has historically relied on the County for various public services. Examples of services requested include:
Public health including enforcement of health ordinances Weed abatement
Assessor
District attorney
Document transfer tax collection
Public Works
oBridge inspection and maintenance
oStorm drain catch basin cleanout
oSafe, Clean Water Program
oSubdivision maps; final
oTraffic signal maintenance at shared intersections
oInfrastructure design/construction
The proposed agreement renews the existing framework for an additional five-year term. The terms and conditions of the Agreement are substantially unchanged from the prior agreement approved by Council for the period of July 1, 2021 through June 30, 2026.

The agreement:
Establishes that rates for services will be determined by the County Auditor- Controller and adjusted annually to reflect actual costs; Requires that services be formally requested in writing by the City and approved by the County;
Clarifies that County personnel remain County employees; Incorporates existing indemnity agreements between the City and County; and Allows either party to terminate the agreement with appropriate notice.

Renewal of the GSA does not commit the City to any specific service or expenditure. If a department determines that County services are needed, a specific sub-agreement or service request would be prepared and routed for appropriate administrative or Council approval, consistent with City purchasing and contracting policies. Approving this agreement ensures that the City maintains uninterrupted access to County resources and preserves operational flexibility for future service needs.

STAKEHOLDERS/OUTREACH
This item is administrative in nature and does not require public outreach. The Agreement provides an operational framework for intergovernmental services between the City and the County of Los Angeles.
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FISCAL IMPACT
There is no fiscal impact associated with this report. The GSA establishes terms under which services may be requested; however, it does not authorize funding for any specific service. Costs for any requested services will be determined by the Los Angeles County Auditor-Controller and will be addressed at the time individual services are requested and approved.

ENVIRONMENTAL REVIEW (CEQA/NEPA)
This item is considered ministerial activity and therefore, not subject to CEQA review.

CAMPAIGN DISCLOSURE
Not applicable.

ALTERNATIVES TO STAFF RECOMMENDATION
Alternative 1: The City Council does not approve the motion to authorize the City Manager, or his designee, to enter into and execute a GSA with the County of Los Angeles to allow the City to utilize County services on an as-needed and as-requested basis.

Alternative 2: The City Council may consider any other alternative not proposed by staff.

ADMINISTRATIVE ACTION
Submitted by:

Daniel Hernandez, Director of Public Works
Prepared by:

Petra Beglarian, Public Works Manager
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
Exhibit 1: General Services Agreement with the County of Los Angeles (July 1, 2026 – June 30, 2031)
Exhibit 2: Matrix of Services Provided to Cities by the County of Los Angeles 28 of 280

1 6
5 8
8 MOTION
Moved by Council Member ,
seconded by Council Member , that the Council of
the City of Glendale hereby authorizes the City Manager, or his designee, to enter into and execute a General Services Agreement with the County of Los Angeles for the period of July 1, 2026 through June 30, 2031, to allow the City to utilize County services on an as-needed and as-requested basis, and to authorize the City Manager, or his designee, to execute any sub-agreements for specific services under the General Services Agreement, subject to the approval as to form by the City Attorney.

Votes as follows:

Ayes:

Noes:

Absent:

Abstain:
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GENERAL SERVICES AGREEMENT
THIS GENERAL SERVICES AGREEMENT ("Agreement"), dated for purposes of reference only, July 1, 2026, is m ade by and between the County of Los Angeles, hereinafter referred to as the "County," and the City of Glendale, hereinafter referred to as
the "City."
RECITALS:
(a) The City is desirous of cont racting with the County for t he performance by it s appropriate officers and em ployees o f City functions. (b) The County i s agreeable to performing such services on the terms and conditions her einafter se t forth.
(
c) Such contracts are authorized and provided for by the provisions of Section 56½ of the Charter of the County of Los
Angeles and Section 51300, et seq ., of the
Government Code.

THEREFORE, THE PARTI
ES MUTUALLY AGREE AS FOLLOWS:

1. The County agrees, through its officers, agents and employees, to perform those City functions, which are hereinafter provided for.

2. The City shall pay for such services as are provided under this Agreement at rates to be determined by the County Auditor-Controller in accordance with the policies and procedures established by the Board of Supervisors.

These rates shall be readjusted by the County Auditor-Controller annually effective the first day of July of each year to reflect the cost of such service in accordance with the policies and procedures for the determination of such rates as adopted by the Board of Supervisors of County.

3. No County agent, officer or department shall perform for said City any Exhibit 1
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function not coming within the scope of the duties of such agent, officer or department in performing services for the County.

4. No service shall be performed hereunder unless the City shall have available funds previously appropriated to cover the cost thereof.

5. No function or service shall be performed hereunder by any County agent, officer or department unless such function or service shall have been requested in writing by the City on order of the City Council thereof or such officer as it may designate and approved by the Board of Supervisors of the County, or such officer as it may designate, and each such service or function shall be performed at the times and under circumstances which do not interfere with the performance of regular County operations.

6. Whenever the County and City mutually agree as to the necessity for any such County agent, officer or department to maintain administrative headquarters in the City, the City shall furnish at its own cost and expense all necessary office space, furniture, and furnishings, office supplies, janitorial service, telephone, light, water, and other utilities. In all instances where special supplies, stationery, notices, forms and the like must be issued in the name of the City, the same shall be supplied by the City at its expense.

It is expressly understood that in the event a local administrative office is maintained in the City for any such County agent, officer or department, such quarters may be used by the County agent, officer or department in connection with the performance of its duties in territory outside the City and adjacent thereto provided, however, that the performance of such outside duties shall not be at any additional cost to the City.

7. All persons employed in the performance of such services and functions for 31 of 280

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the City shall be County agent s, officers or employees, and no City employee as such shall be taken over by the County, and no person employed hereunder shall have any City pension, civil service, or other status or right.

For the purpose of performing such services and functions, and for the purpose of giving official status to the performance hereof, every County agent, officer and employee engaged in performing any such service or function shall be deemed to be an agent, officer or employee of said City while performing service for the City within the scope of this agreement.

8. The City shall not be called upon to assume any liability for the direct payment of any salary, wages or other compensation to any County personnel performing services hereunder for the City, or any liability other than that provided for in this agreement.

Except as herein otherwise specified, the City shall not be liable for compensation or indemnity to any County employee for injury or sickness arising out of his or her employment.

9. The parties hereto have executed an Assumption of Liability Agreement approved by the Board of Supervisors on December 27, 1977 and/or a Joint Indemnity Agreement approved by the Board of Supervisors on October 8, 1991. Whichever of these documents the City has signed later in time is currently in effect and hereby made a part of and incorporated into this agreement as set out in full herein. In the event that the Board of Supervisors later approves a revised Joint Indemnity Agreement and the City executes the revised agreement, the subsequent agreement as of its effective date shall supersede the agreement previously in effect between the parties hereto.

10. Each County agent, officer or department performing any service for the 32 of 280

4 of 6
City provided for herein shall keep reasonably itemized and in detail work or job records covering the cost of all services performed, including salary, wages and other compensation for labor, supervision and planning, plus overhead, the reasonable rental value of all County-owned machinery and equipment, rental paid for all rented machinery or equipment, together with the cost of an operator thereof when furnished with said machinery or equipment, the cost of all machinery and supplies furnished by the County, reasonable handling charges, and all additional items of expense incidental to the performance of such function or service.

11. All work done hereunder is subject to the limitations of the provisions of Section 23008 of the Government Code, and in accordance therewith, before any work is done or services rendered pursuant hereto, an amount equal to the cost or an amount 10% in excess of the estimated cost must be reserved by the City from its funds to ensure payment for work, services or materials provided hereunder.

12. The County shall render to the City at the close of each calendar month an itemized invoice which covers all services performed during said month, and the City shall pay County therefore within thirty (30) days after date of said invoice.

If such payment is not delivered to the County office which is described on said invoice within thirty (30) days after the date of the invoice, the County is entitled to recover interest thereon. Said interest shall be at the rate of seven (7) percent per annum or any portion thereof calculated from the last day of the month in which the services were performed.

13. Notwithstanding the provisions of Government Code Section 907, if such payment is not delivered to the County office which is described on said invoice within thirty (30) days after the date of the invoice, the County may satisfy such indebtedness, 33 of 280

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including interest thereon, from any funds of any such City on deposit with the County without giving further notice to said City of County's intention to do so.

14. This Agreement shall become effective on the date herein -above first mentioned and shall run for a period ending June 30, 2031, and at the option of the City Council of the City, with the consent of the Board of Supervisors of County, shall be renewable thereafter for an additional period of not to exceed five (5) years.

15. In the event the City desires to renew this Agreement for said five -year period, the City Council shall not later than the last day of May 2031, notify the Board of Supervisors of County that it wishes to renew the same, whereupon the Board of Supervisors, not later than the last day of June 2031, shall notify the City Council in writing of its willingness to accept such renewal. Otherwi se, such Agreement shall finally terminate at the end of the aforedescribed period.

Notwithstanding the provisions of this paragraph herein -above set forth, the County may terminate this Agreement at any time by giving thirty (30) days' prior written notice to the City. The City may terminate this Agreement as of the first day of July of any year upon thirty (30) days' prior written notice to the County.

16. This Agreement is designed to cover miscellaneous and sundry services which may be supplied by the County of Los Angeles and the various departments thereof. In the event there now exists or there is hereafter adopted a specific contract between the City and the County with respect to specific services, such contract with respect to specific services shall be controlling as to the duties and obligations of the parties anything herein to the contrary notwithstanding, unless such special contract adopts the provisions hereof by reference.
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IN WITNESS
WHEREOF, the parties hereto have caused this Agreement to be executed by their duly authorized officers.

Executed this _______
______day of ________________________2026.

The City of Glendale,
By _____________________________
Mayor
ATTEST:

City Clerk THE COUNTY

OF LOS ANGELES
By_____________________________ By_________
____________________
Chair, Board of Supervisors
ATTEST:

EDWARD YEN
Exec
utive Officer/Clerk
of the Board of Supervisors
By_____________________________
Deputy

APPROVED AS TO FOR
M:

DAWYN R. HARRI
SON
County Counsel
By ___________________________
Seni
or Deputy
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SERVICES PROVIDED TO CITIES BY THE COUNTY OF LOS ANGELES (Via Agreement)
AGRICULTURAL COMM./WEIGHTS & MEASURES Weed Abatement Predatory Animal (GSA or Contract) Vertebrate Pests (Contract) Noxious/Invasive Weeds Management (Contract) ANIMAL CARE & CONTROL (1)
Animal Control Animal Shelter Services ASSESSOR Maps Media (CD/DVD/Email) AUDITOR-CONTROLLER Direct Assessments Collections BEACHES & HARBORS (2)
Beach Maintenance Facility Maintenance BOARD OF SUPERVISORS JPA for Foothill Transit Corporation & Meetings Hearing Appeals-Civil Service Commission CHIEF EXECUTIVE OFFICE GSA/Assumption of Liability Agreements Local Homeless Services Programming (12)
CONSUMER AND BUSINESS AFFAIRS Eviction Defense Services Wage Enforcement Services Immigrant Legal Services DISTRICT ATTORNEY City Prosecution Services Community Law Enforcement & Recovery (CLEAR) Community Prosecutor Program (CPP) FIRE DEPARTMENT (3)
Fire Suppression Services - Fee for Service Fire Suppression Services - Tax Share Beach Lifeguard Services GSA/MOU/Others Certified Unified Participating Agency Billing HEALTH SERVICES Housing and homelessness services Justice-related services Pregnancy-related support services INTERNAL SERVICES (4)
Telecommunication Services IT Services Energy and Environmental Programs SoCalREN-EES eGIS Services Fleet & Logistics Maintenance & Operations Mail Delivery MENTAL HEALTH Alternative Crisis Response Unit (5)
Mental Hlth Eval & Co-Response Team w/Police
(6)
Mental Health Evaluation Team & 1 FTE PSW
(7)
Therapeutic Transport Program (13) PROBATION Deputy Probation Officer Services PUBLIC HEALTH See Attachment I for Specific Services PUBLIC LIBRARY (8)
Library Services PUBLIC WORKS See Attachment II for Specific Services REGIONAL PLANNING Planning & Zoning Services REGISTRAR-RECORDER/COUNTY CLERK (9)
Document Transfer Tax Collection
(12)
Real Property Index-View Election Management System Vital Records Data and Images Release of Voter Signature Files Access to YODA System (10)
SHERIFF'S DEPARTMENT General Law Enforcement Traffic Law Enforcement Detective Services Helicopter Programs Special Occasions TREASURER AND TAX COLLECTOR Business License Agoura Hills ▪ ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Alhambra ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Arcadia ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Artesia ▪ ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Avalon ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Azusa ▪ ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Baldwin Park ▪ ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Bell ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Bellflower ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Bell Gardens ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Beverly Hills ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Bradbury ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Burbank ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Calabasas ▪ ▪ ▪ ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Carson ▪ ▪ ▪ ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Cerritos ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Claremont ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Commerce ▪ ▪ ▪ ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Compton ▪ ▪ ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Covina ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Cudahy ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Culver City ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ * ▪ ▪ Diamond Bar ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Downey ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Duarte ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
El Monte ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
El Segundo ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Gardena ▪ ▪ ▪ ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Glendale ▪ ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Glendora ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Hawaiian Gardens ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Hawthorne ▪ ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Hermosa Beach ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Hidden Hills ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Huntington Park ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪

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Exhbit 2
36 of 280

SERVICES PROVIDED TO CITIES BY THE COUNTY OF LOS ANGELES (Via Agreement)
AGRICULTURAL COMM./WEIGHTS & MEASURES Weed Abatement Predatory Animal (GSA or Contract) Vertebrate Pests (Contract) Noxious/Invasive Weeds Management (Contract) ANIMAL CARE & CONTROL (1)
Animal Control Animal Shelter Services ASSESSOR Maps Media (CD/DVD/Email) AUDITOR-CONTROLLER Direct Assessments Collections BEACHES & HARBORS (2)
Beach Maintenance Facility Maintenance BOARD OF SUPERVISORS JPA for Foothill Transit Corporation & Meetings Hearing Appeals-Civil Service Commission CHIEF EXECUTIVE OFFICE GSA/Assumption of Liability Agreements Local Homeless Services Programming (12)
CONSUMER AND BUSINESS AFFAIRS Eviction Defense Services Wage Enforcement Services Immigrant Legal Services DISTRICT ATTORNEY City Prosecution Services Community Law Enforcement & Recovery (CLEAR) Community Prosecutor Program (CPP) FIRE DEPARTMENT (3)
Fire Suppression Services - Fee for Service Fire Suppression Services - Tax Share Beach Lifeguard Services GSA/MOU/Others Certified Unified Participating Agency Billing HEALTH SERVICES Housing and homelessness services Justice-related services Pregnancy-related support services INTERNAL SERVICES (4)
Telecommunication Services IT Services Energy and Environmental Programs SoCalREN-EES eGIS Services Fleet & Logistics Maintenance & Operations Mail Delivery MENTAL HEALTH Alternative Crisis Response Unit (5)
Mental Hlth Eval & Co-Response Team w/Police
(6)
Mental Health Evaluation Team & 1 FTE PSW
(7)
Therapeutic Transport Program (13) PROBATION Deputy Probation Officer Services PUBLIC HEALTH See Attachment I for Specific Services PUBLIC LIBRARY (8)
Library Services PUBLIC WORKS See Attachment II for Specific Services REGIONAL PLANNING Planning & Zoning Services REGISTRAR-RECORDER/COUNTY CLERK (9)
Document Transfer Tax Collection
(12)
Real Property Index-View Election Management System Vital Records Data and Images Release of Voter Signature Files Access to YODA System (10)
SHERIFF'S DEPARTMENT General Law Enforcement Traffic Law Enforcement Detective Services Helicopter Programs Special Occasions TREASURER AND TAX COLLECTOR Business License Industry ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Inglewood ▪ ▪ ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Irwindale ▪ ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
La Canada Flintridge ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ La Habra Heights ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Lakewood ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
La Mirada ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Lancaster ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ La Puente ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
La Verne ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Lawndale ▪ ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Lomita ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Long Beach ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Los Angeles ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ * ▪ ▪ ▪ ▪ Lynwood ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Malibu ▪ ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Manhattan Beach ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Maywood ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Monrovia ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Montebello ▪ ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Monterey Park ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Norwalk ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Palmdale ▪ ▪ ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Palos Verdes Estates ▪ ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Paramount ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Pasadena ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Pico Rivera ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ * ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Pomona ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ * ▪ ▪
Rancho Palos Verdes ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Redondo Beach ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ * ▪
Rolling Hills ▪ ▪ ▪ ▪ ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Rolling Hills Estates ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪

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SERVICES PROVIDED TO CITIES BY THE COUNTY OF LOS ANGELES (Via Agreement)
AGRICULTURAL COMM./WEIGHTS & MEASURES Weed Abatement Predatory Animal (GSA or Contract) Vertebrate Pests (Contract) Noxious/Invasive Weeds Management (Contract) ANIMAL CARE & CONTROL (1)
Animal Control Animal Shelter Services ASSESSOR Maps Media (CD/DVD/Email) AUDITOR-CONTROLLER Direct Assessments Collections BEACHES & HARBORS (2)
Beach Maintenance Facility Maintenance BOARD OF SUPERVISORS JPA for Foothill Transit Corporation & Meetings Hearing Appeals-Civil Service Commission CHIEF EXECUTIVE OFFICE GSA/Assumption of Liability Agreements Local Homeless Services Programming (12)
CONSUMER AND BUSINESS AFFAIRS Eviction Defense Services Wage Enforcement Services Immigrant Legal Services DISTRICT ATTORNEY City Prosecution Services Community Law Enforcement & Recovery (CLEAR) Community Prosecutor Program (CPP) FIRE DEPARTMENT (3)
Fire Suppression Services - Fee for Service Fire Suppression Services - Tax Share Beach Lifeguard Services GSA/MOU/Others Certified Unified Participating Agency Billing HEALTH SERVICES Housing and homelessness services Justice-related services Pregnancy-related support services INTERNAL SERVICES (4)
Telecommunication Services IT Services Energy and Environmental Programs SoCalREN-EES eGIS Services Fleet & Logistics Maintenance & Operations Mail Delivery MENTAL HEALTH Alternative Crisis Response Unit (5)
Mental Hlth Eval & Co-Response Team w/Police
(6)
Mental Health Evaluation Team & 1 FTE PSW
(7)
Therapeutic Transport Program (13) PROBATION Deputy Probation Officer Services PUBLIC HEALTH See Attachment I for Specific Services PUBLIC LIBRARY (8)
Library Services PUBLIC WORKS See Attachment II for Specific Services REGIONAL PLANNING Planning & Zoning Services REGISTRAR-RECORDER/COUNTY CLERK (9)
Document Transfer Tax Collection
(12)
Real Property Index-View Election Management System Vital Records Data and Images Release of Voter Signature Files Access to YODA System (10)
SHERIFF'S DEPARTMENT General Law Enforcement Traffic Law Enforcement Detective Services Helicopter Programs Special Occasions TREASURER AND TAX COLLECTOR Business License Rosemead ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
San Dimas ▪ ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ San Fernando ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
San Gabriel ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
San Marino ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Santa Clarita ▪ ▪ ▪ ▪ ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Santa Fe Springs ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Santa Monica ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ *
Sierra Madre ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Signal Hill ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
South El Monte ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
South Gate ▪ ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
South Pasadena ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Temple City ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Torrance ▪ ▪ ● ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Vernon ● ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Walnut ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
West Covina ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
West Hollywood ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Westlake Village ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ Whittier ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
TOTAL 58 6 12 5 44 44 29 37 82 2 2 0 21 86 8 1 2 1 80 1 1 12 47 11 31 6 88 16 58 86 18 69 66 42 28 11 1 1 12 1 1 3 87 49 88 1 88 2 2 2 3 5 42 42 42 23 76 3 5 The Department of Mental Health (DMH) entered into a Memorandum of Understanding (MOU) with the City of Los Angeles to provide Alternative Crisis Response services. 7 DMH entered into a partnership through a Memorandum of Cooperative Agreement with the City of Burbank to develop a mental health evaluation team and one FTE psychiatric social worker for the provision of crisis mental health services. 8 The LA County Library has an MOU established with four cities, including Diamond Bar, Malibu, Manhattan Beach, and West Hollywood. The dot indicates County Library services are provided to these cities. 9 The Registrar-Recorder/County Clerk provides Document Transfer Tax Collection services to 88 cities in the County. It also provides election services to all cities through an approved City Council resolution and adopted by the Board of Supervisors. 10 The Registrar-Recorder/County Clerk's Your Online Document Archive (YODA) is in-house electronic archive system. 11 The Data Information Management System (DIMS) is a contracted-system that manages voter registration information. 12 A documentary transfer tax imposed in accordance with Revenue & Taxation Code sections 11911 through 11933. *Cities that have specific MOUs additional city codes to charge higher taxes so MOUs were developed to charge a per document fee for the additional processing. 13 DMH entered into a Memorandum of Agreement with the City of Santa Monica to develop a Therapeutic Transport Program.

Updated September 2025
6 DMH entered into a Memorandum of Agreement with the Cities of Alhambra, Azusa, Beverly Hills, Covina, Culver City, Glendora, Long Beach, Montebello, Monterey Park, Pomona, West Covina and West Hollywood police departments to develop mental health evaluation team and co-response models. 3 The Fire Department provides beach lifeguard services to the City of El Segundo through a contract with Chevron. 4 Internal Services Department (ISD) provides IT services (mainframe access) for the City of Los Angeles and the City of Long Beach. IT services (eGis services) are provided to the following cities: Arcadia, Hawthorne, Redondo Beach, Santa Monica and Torrance and radio telecommunications services (CWIRS) to all 88 cities. ISD Fleet section provides fuel to the City of La Puente for the LASD Sheriff Station. ISD provides Mail Services to the City Halls of the City of Los Angeles. The ISD Operations Support unit provides millwright services to the City of Glendale's Water and Power. The ISD Power Plant provides chilled water for the A/C unit and heat for the Santa Clarita Library. ISD also provides the Santa Clarita Library testing for the irrigation backflow. 2 The City of Los Angeles contracts with the Departments of Beaches & Harbors and Fire for maintenance and lifeguard services for four beaches located within the city through a Joint Powers Agreement (JPA) with the County. 1 The Department of Animal Care & Control (DACC) provides Limited Field Services to Commerce, Culver City, El Monte, Gardena, Hawthorne, Huntington Park, La Puente, Lancaster, Lawndale, Monterey Park, Palos Verdes Estates, Redondo Beach and Torrance; and Limited Sheltering to Culver City, Gardena, Hawthorne, La Puente, Lawndale, Redondo Beach and West Hollywood.

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ATTACHMENT I
PUBLIC HEALTH Enforcement Health Ordinance LAX Inspection of Facilities Public Health & Safety Inspection & Enforcement Services of Cannabis Facilities Agoura Hills ▪
Alhambra ▪
Arcadia ▪
Artesia ▪
Avalon ▪
Azusa ▪
Baldwin Park ▪
Bell ▪
Bellflower ▪
Bell Gardens ▪
Beverly Hills ▪
Bradbury ▪
Burbank ▪
Calabasas ▪
Carson ▪
Cerritos ▪
Claremont ▪
Commerce ▪
Compton ▪
Covina ▪
Cudahy ▪
Culver City ▪
Diamond Bar ▪
Downey ▪
Duarte ▪
El Monte ▪
El Segundo ▪
Gardena ▪
Glendale ▪
Glendora ▪
Hawaiian Gardens ▪
Hawthorne ▪
Hermosa Beach ▪
Hidden Hills ▪
Huntington Park ▪
Industry ▪
Inglewood ▪
Irwindale ▪
La Canada Flintridge ▪
La Habra Heights ▪
Lakewood ▪
La Mirada ▪
Lancaster ▪
La Puente ▪
La Verne ▪
Lawndale ▪
Lomita ▪
Long Beach
Los Angeles ▪ ▪ ▪
Public Health - Page 1
39 of 280

PUBLIC HEALTH Enforcement Health Ordinance LAX Inspection of Facilities Public Health & Safety Inspection & Enforcement Services of Cannabis Facilities

Lynwood ▪
Malibu ▪
Manhattan Beach ▪
Maywood ▪
Monrovia ▪
Montebello ▪
Monterey Park ▪
Norwalk ▪
Palmdale ▪
Palos Verdes Estates ▪
Paramount ▪
Pasadena
Pico Rivera ▪
Pomona ▪
Rancho Palos Verdes ▪
Redondo Beach ▪
Rolling Hills ▪
Rolling Hills Estates ▪
Rosemead ▪
San Dimas ▪
San Fernando ▪
San Gabriel ▪
San Marino ▪
Santa Clarita ▪
Santa Fe Springs ▪
Santa Monica ▪
Sierra Madre ▪
Signal Hill ▪
South El Monte ▪
South Gate ▪
South Pasadena ▪
Temple City ▪
Torrance ▪
Vernon
Walnut ▪
West Covina ▪
West Hollywood ▪
Westlake Village ▪
Whittier ▪
TOTAL 85 1 1
Public Health - Page 2
40 of 280

ATTACHMENT II
PUBLIC WORKS Bridge Inspection and/or Maintenance Building and Safety Storm Drain Catch Basin Cleanout Storm Drain Catch Basin Insert Maintenance City Pump Station Street Maintenance Industrial Waste Permit Issuance & Inspection (Transportation) Consolidated Sewer Maintenance District Safe, Clean Water Program Sewer Maintenance Contract Street Lighting Maintenance District Subdivision Maps: Final Subdivision Maps: Tentative Traffic Advisor Traffic Operations Maintenance Traffic Signal Maintenance Traffic Signal Maint. - Shared Intersections Underground Storage Tanks Infrastructure Design and Construction Traffic Monitoring Agoura Hills ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Alhambra ▪ ▪ ▪ ▪ ▪
Arcadia ▪ ▪ ▪ ▪ ▪ ▪ ▪
Artesia ▪ ▪ ▪ ▪ ▪ ▪ ▪
Avalon ▪ ▪
Azusa ▪ ▪ ▪ ▪ ▪ ▪
Baldwin Park ▪ ▪ ▪ ▪ ▪ ▪
Bell ▪ ▪ ▪ ▪ ▪
Bellflower ▪ ▪ ▪ ▪ ▪ ▪
Bell Gardens ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Beverly Hills ▪ ▪ ▪ ▪ ▪ ▪
Bradbury ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Burbank ▪ ▪ ▪ ▪
Calabasas ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Carson ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Cerritos ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Claremont ▪ ▪ ▪ ▪
Commerce ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Compton ▪ ▪ ▪ ▪ ▪ ▪ ▪
Covina ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Cudahy ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Culver City ▪ ▪ ▪ ▪ ▪ ▪ ▪
Diamond Bar ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Downey ▪ ▪ ▪ ▪ ▪
Duarte ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
El Monte ▪ ▪ ▪ ▪ ▪ ▪
El Segundo ▪ ▪ ▪ ▪ ▪ ▪ ▪
Gardena ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Glendale ▪ ▪ ▪ ▪ ▪ ▪
Glendora ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Hawaiian Gardens ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Hawthorne ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Hermosa Beach ▪ ▪ ▪ ▪ ▪ ▪
Hidden Hills ▪ ▪ ▪ ▪ ▪ ▪
Huntington Park ▪ ▪ ▪ ▪ ▪ ▪
Industry ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Inglewood ▪ ▪ ▪ ▪ ▪
Irwindale ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
La Canada Flintridge ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
La Habra Heights ▪ ▪ ▪ ▪ ▪ ▪ ▪
Lakewood ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
La Mirada ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Lancaster ▪ ▪ ▪ ▪ ▪
La Puente ▪ ▪ ▪ ▪ ▪ ▪ ▪
La Verne ▪ ▪ ▪ ▪ ▪ ▪
Lawndale ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Lomita ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Long Beach ▪ ▪ ▪ ▪ ▪
Los Angeles ▪ ▪ ▪
Public Works - Page 1
41 of 280

PUBLIC WORKS Bridge Inspection and/or Maintenance Building and Safety Storm Drain Catch Basin Cleanout Storm Drain Catch Basin Insert Maintenance City Pump Station Street Maintenance Industrial Waste Permit Issuance & Inspection (Transportation) Consolidated Sewer Maintenance District Safe, Clean Water Program Sewer Maintenance Contract Street Lighting Maintenance District Subdivision Maps: Final Subdivision Maps: Tentative Traffic Advisor Traffic Operations Maintenance Traffic Signal Maintenance Traffic Signal Maint. - Shared Intersections Underground Storage Tanks Infrastructure Design and Construction Traffic Monitoring Lynwood ▪ ▪ ▪ ▪ ▪ ▪ ▪
Malibu ▪ ▪ ▪ ▪ ▪ ▪
Manhattan Beach ▪ ▪ ▪ ▪ ▪ ▪
Maywood ▪ ▪ ▪ ▪ ▪ ▪
Monrovia ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Montebello ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Monterey Park ▪ ▪ ▪ ▪ ▪ ▪ ▪
Norwalk ▪ ▪ ▪ ▪ ▪ ▪
Palmdale ▪ ▪ ▪ ▪ ▪
Palos Verdes Estates ▪ ▪ ▪ ▪ ▪ ▪ ▪
Paramount ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Pasadena ▪ ▪ ▪ ▪ ▪ ▪
Pico Rivera ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Pomona ▪ ▪ ▪ ▪
Rancho Palos Verdes ▪ ▪ ▪ ▪ ▪ ▪
Redondo Beach ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Rolling Hills ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Rolling Hills Estates ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Rosemead ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
San Dimas ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
San Fernando ▪ ▪ ▪ ▪ ▪
San Gabriel ▪ ▪ ▪ ▪ ▪ ▪ ▪
San Marino ▪ ▪ ▪ ▪ ▪ ▪
Santa Clarita ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Santa Fe Springs ▪ ▪ ▪ ▪ ▪ ▪ ▪
Santa Monica ▪ ▪ ▪ ▪ ▪
Sierra Madre ▪ ▪ ▪
Signal Hill ▪ ▪ ▪ ▪ ▪ ▪
South El Monte ▪ ▪ ▪ ▪ ▪ ▪
South Gate ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
South Pasadena ▪ ▪ ▪ ▪ ▪ ▪ ▪
Temple City ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Torrance ▪ ▪ ▪ ▪ ▪ ▪
Vernon ▪ ▪ ▪ ▪ ▪
Walnut ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
West Covina ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
West Hollywood ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Westlake Village ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪ ▪
Whittier ▪ ▪ ▪ ▪ ▪ ▪
TOTAL 72 11 27 46 3 5 36 21 38 85 3 16 41 6 2 21 21 49 77 88 7 Public Works - Page 2
42 of 280

5d
26-89775

CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: To accept additional grant funding from the United States Department of Homeland Security FY 2023 Urban Area Security Initiatives (UASI) Grant Program.

2. Resolution of Appropriation to appropriate $280,000 from the Urban Area Security Initiatives (UASI) Grant Program grant revenue.

COUNCIL ACTION
Item Type: Consent Calendar
Approved for March 31, 2026 calendar

EXECUTIVE SUMMARY
The City of Glendale was successful in obtaining an additional $280,000 in funding under the FY 2023 Urban Area Securities Initiative (UASI) Grant Program. The Police Department now seeks appropriation of those funds to be used for Regional LMR System Upgrade project.

RECOMMENDATION
That the City Council approve the resolution authorizing the City Manager to execute an amendment to the Sub-Recipient agreement with the City of Los Angeles for the acceptance of additional grant funds in the amount of $280,000 from the UASI Grant Program and adopt a Resolution of Appropriation in the amount of $280,000.

ANALYSIS
The grant funds are allocated between the City of Los Angeles and those cities recognized by the County of Los Angeles Operational Area (OA), which includes Glendale. The grant is administered by the City of Los Angeles, and management of the grant is the responsibility of the Police Department. These funds are available for purchases of approved equipment and training of first responders which meet identified national, state, county and local priorities.
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The projects associated with the FY2023 UASI grant program are for the purpose of enhancing public safety efforts within Glendale and the region. These projects are part of the Los Angeles Operational Area’s regional funding priorities and have been vetted through the Los Angeles area fire and police regional coordination agencies and the City of Los Angeles Office of Homeland Security and Public Safety. All projects have been approved by the State of California Office of Emergency Services Homeland Security authorizing branch.

In May 2024, the City received $1,000,000 for the Regional LMR System Upgrade project.

The additional funding received brings the total project funding to $1,280,000. The funding will be allocated to the replacement of the Regional LMR System Upgrade to continue to provide highly reliable network connections between elements of the City’s two-way radio system, many of which are located in remote mountaintop locations.

STAKEHOLDERS/OUTREACH
The grant funds will be used to enhance public safety for the community within Glendale and the region.

FISCAL IMPACT
The FY 2023 Urban Area Security Initiatives (UASI) Grant Program additional funding is $280,000, which was not included as a part of the FY 2025-26 budget. Therefore, staff is requesting an appropriation of $280,000 from Federal Grant revenue. This is a reimbursement grant and requires no matching funds. The appropriation request is outlined below:

Requesting Appropriation
Amount From (Account String) To (Account String) Funding Source $280,000 GL: 31240-6600-GPD-
0020-P0000
PL: GPD01162CG
GL: 51000-6600-
GPD-0020-P0000
PL: GPD01162CG
Wireless Fund
Department Cost Center Program
Police Projects

ENVIRONMENTAL REVIEW (CEQA/NEPA)
The action being considered does not constitute a “project” within the meaning of the CEQA pursuant to CEQA Guidelines Section 15378(b)(4) as it creates a government funding mechanism or constitutes other government fiscal activities which do not involve any commitment to any specific project which may result in a potentially significant physical impact on the environment.

CAMPAIGN DISCLOSURE
This item is exempt from campaign disclosure requirements. 44 of 280

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ALTERNATIVES TO STAFF RECOMMENDATION
The City Council may elect not to accept and appropriate the additional grant award, in which case the expenditure would fall on the respective department to fund the equipment.

ADMINISTRATIVE ACTION
Submitted by:

Robert William, Interim Police Chief
Prepared by:

Alison Finch, Public Safety Business Administrator
Gordon Arnold, Wireless Systems Manager
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
N/A
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MOTION
Moved by Council Member ____________________________, seconded by Council Member ___________________________, that the Council of the City of Glendale hereby:

1. Accepts grant funds in the amount of $280,000 from the United States Department of Homeland Security FY 2023 Urban Area Security Initiatives (UASI) Grant Program; and

2. Authorizes the City Manager, or a designee, to execute an amendment to the Sub-Recipient agreement with the City of Los Angeles for the award of funds under FY 2023.

Vote as follows:

Ayes:

Noes:

Absent:

Abstain:
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RESOLUTIONNO.

RESOLUTIONOFTHECOUNCILOFTHECITYOFGLENDALE

MAKINGANAPPROPRIATION
BEITRESOLVEDBYTHECOUNCILOFTHECITYOFGLENDALE:

SECTION1:Thatthesumof$280,000isherebyappropriatedand/ortransferredfromthefollowing accountstothefollowingaccounts:

ACCOUNTSDESCRIPTIONFROMTO
31240-6600-GPD-0020-P0000-FederalGrants,WirelessFund,Police,$280,000 GPDO1162CGProjects,UASI2023
51000-6600-GPD-0020-P0000-CapitalOutlay,WirelessFund,Police,$280,000 GPDO1162CGProjects,UASI2023
ToappropriateadditionalfundingfortheFY2023UrbanAreaSecurityInitiatives(UASI)GrantProgram.

SECTION3:TheCityClerkshallcertifytotheadoptionofthisResolution.

Adoptedthisdayof
________________,
2026.

Mayor
ATTEST:

CITYOFGLENDALE
DATE3/25/2026
t•APPROVEDASTOFINANCIAL
CityClerkPROVISIONFOR
s280,000
DirectorofFinance STATEOFCALIFORNIA)

COUNTYOFLOSANGELES)SS

CITYOFGLENDALE)
I,SuzieAbajian,CityClerkoftheCityofGlendale,doherebycertifythattheforegoingResolution No.wasadoptedbytheCounciloftheCityofGlendale!California,ataregularmeetingheldon the__________dayof
________________,
2026,andthatthesamewasadoptedbythefollowingvote:

Ayes:

Noes:

Absent:

Abstain:

CityClerk
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26-89805

CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Plans and Specification for the 2026 Sewer Lining Project and On-Call Sewer and Storm Drain Lining Services
1)Resolution adopting the plans and specification for the 2026 Sewer Lining Project and On-Call Sewer and Storm Drain Lining Services, Specification No. 3976 and Plan Nos. 3-1590 and 3-1595; and directing the City Clerk to advertise for bids.

COUNCIL ACTION
Item Type: Consent Calendar
Approved for March 31, 2026 calendar

EXECUTIVE SUMMARY
The Public Works Department (PWD) is undertaking a trenchless pipeline rehabilitation program for sewer and storm drain infrastructure to maintain reliable service and protect public health. To accomplish this, staff are seeking to procure a qualified contractor through a competitive bidding process and execute a three-year on-call contract to perform various types of lining on sanitary sewer and storm drain pipelines, with an option to extend the contract for up to two additional years.

The intent of this item is for the City Council to adopt the project plans and specification, and authorize the City Clerk to advertise for bids.

RECOMMENDATION
Approve the resolution to adopt the plans and specifications for the 2026 Sewer Lining Project and On-Call Sewer and Storm Drain Lining Services, and direct the City Clerk to advertise for bids.

ANALYSIS
The City of Glendale owns and maintains approximately 350 miles of sanitary sewer mains and 26 miles of storm drain lines. Much of the city’s sanitary sewer system was constructed in the early 1900s, when the city was first incorporated, and many mains are now over 100 years old. Due to their age and material composition, these pipelines are subject to corrosion, cracking, and structural deterioration, requiring ongoing rehabilitation to maintain system reliability and protect public health and safety. 48 of 280

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While ownership and maintenance responsibility for many reinforced concrete storm drain lines has been transferred to the Los Angeles County Department of Public Works, the city continues to maintain certain reinforced concrete pipe segments, as well as corrugated metal pipe (CMP) storm drain lines constructed in the early to mid-20th century. CMP lines are not transferable to the county and remain the city’s responsibility, requiring continued maintenance and rehabilitation as they age.

PWD crews routinely perform cleaning and closed-circuit television (CCTV) inspections of the city’s sewer and storm drain infrastructure and have documented deficiencies requiring repair and rehabilitation. Based on inspection findings, staff evaluated pipe conditions and developed plans and a specification to address both ongoing system rehabilitation needs and localized deficiencies requiring timely repair.

Following completion of CCTV inspections and condition assessments, staff identified segments of the sanitary sewer system where trenchless rehabilitation is appropriate.

As part of the city’s ongoing rehabilitation strategy, sewer lining is an effective method to address many of the documented deficiencies by creating a new structural liner within the existing pipe, restoring structural performance, and improving system reliability with minimal surface disruption to the streets and nearby properties.

The proposed sewer lining work will include sectional (partial length) and full-length lining and associated appurtenant work within the public right-of-way and easements.

These improvements will address the sewer pipeline defects, reduce infiltration and the risk of failures, and extend the service life of the sewer network while minimizing impacts to traffic, residents, and businesses.

Project plans and a specification have been prepared to support trenchless rehabilitation methods, including Cured-In-Place Pipe (CIPP) lining for this project. The proposed project will allow the city to competitively procure a qualified contractor to provide services for the following two phases of the work:
Phase I, 2026 Sewer Lining Project: Planned trenchless rehabilitation of identified sewer segments at various citywide locations per Plan Nos. 3-1590 and 3-1595.
Phase II, On-Call Sewer and Storm Drain Lining Services: Unit-price-based, as- needed trenchless pipeline rehabilitation and repair services identified through CCTV inspections or operational needs during the contract term. This portion of the work will be authorized by the city on an as-needed basis through the contract term, and the contractor may be directed to perform either planned rehabilitation or unanticipated repairs on as-needed basis.

Upon City Council approval of the contract award at a future meeting, the agreement will be for an initial three-year term from the date of certification by the City Manager, with an option to extend for up to two additional years, subject to satisfactory performance.
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A copy of the project plans and specification are available for public review in the City Engineer’s office and on the city’s website.

Competitive Bidding Process
To ensure competitive bids, the city will advertise the project on multiple plan holders’ websites, which publish project bidding documents and distribute the information to their extensive network of contractors and construction industry contacts.

The project will also be advertised in a local newspaper, the Glendale Independent, prior to bid opening, as well as on Bidnet Direct, which is a web-enabled data service to the public sector for the dissemination of the building and construction project proposals to their large number of member contractors and consultants. Finally, the project bidding documents will also be posted on the city’s website.

STAKEHOLDERS/OUTREACH
Outreach for the 2026 Sewer Lining Project and On-Call Sewer and Storm Drain Lining Services will be tailored to meet the needs of each specific task and impacted community. Outreach efforts will be implemented on an as-needed basis. Depending on the project needs and resources availability, variety of tools and methods can be utilized to keep the public informed and engaged.

A dedicated project website will be maintained through the City of Glendale domain to provide project updates, maps of affected areas, an introduction to the project team, FAQs, and staff contact information. The website will serve as a central resource for residents seeking detailed information or wishing to provide feedback.

In addition, personalized outreach may be conducted through one-on-one meetings with directly impacted residents and businesses. This allows staff to address specific concerns, explain the scope of work, and discuss mitigation measures for potential inconveniences such as road closures, water service interruptions, or noise disturbances.

To reach a broader audience, the project may also utilize social media platforms such as Facebook and Instagram, including location-based posts or ads, to provide updates, traffic advisories, reminders about key dates, and links to more detailed resources on the project website.

FISCAL IMPACT
There is no fiscal impact associated with this report. The current engineer’s estimate for the construction of this project is $5,500,000, which was not included as part of the FY 2025-26 budget. Therefore, staff will request appropriation from the Sewer Fund (5250) at the time of the contract award based on the lowest responsive bid received from a responsible contractor.
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ENVIRONMENTAL REVIEW (CEQA/NEPA)
The Project is categorically exempt from environment review because of CEQA Guidelines §§15301.

CAMPAIGN DISCLOSURE
This item is exempt from campaign disclosure requirements.

ALTERNATIVES TO STAFF RECOMMENDATION
Do not approve the resolution adopting the plans and specifications for the 2026 Sewer Lining Project and On-Call Sewer and Storm Drain Lining Services. Doing so, however, will impair the city’s capacity to make timely sewers and storm drain repairs which protect public health and safety.

ADMINISTRATIVE ACTION
Submitted by:

Daniel Hernandez, Director of Public Works
Prepared by:

Tatevik Barakazyan, P.E., Civil Engineer I
Arpa Arakelian, Civil Engineering Associate
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
None
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RESOLUTION NO. __________

A RESOLUTION OF THE COUNCIL OF THE CITY OF GLENDALE, CALIFORNIA ADOPTING THE PLANS AND SPECIFICATION FOR THE 2026 SEWER LINING

PROJECT AND ON-CALL SEWER AND STORM DRAIN LINING SERVICES, SPECIFICATION NO. 3976 AND PLAN NOS. 3-1590 AND 3-1595, AND DIRECTING THE CITY CLERK TO ADVERTISE FOR BIDS.

BE IT RESOLVED BY THE COUNCIL OF THE CITY OF GLENDALE:

SECTION 1.The Plans and Specification on file in the City Clerk’s office for the 2026 Sewer Lining Project and On-Call Sewer and Storm Drain Lining Services, including the various documents incorporated therein, are hereby approved, adopted, designated and shall hereafter be known as Specification No. 3976 and Plan Nos. 3-1590 and 3- 1595.

SECTION 2.The City Clerk is hereby directed to advertise for bids for the work, equipment and materials described in these Plans and Specification adopted by this Resolution.

Adopted this _____ day of ____________, 2026.
____________________________
Mayor, City of Glendale
ATTEST:
__________________________
City Clerk
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STATE OF CALIFORNIA )

COUNTY OF LOS ANGELES )

Ayes:

Noes:

Absent:

Abstain:
___________________________
City Clerk
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CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Amendment to the City’s existing Legal Services Agreement with Best Best & Krieger, LLP (BBK) and request for conflict-of-interest Waiver in Legal Representation by BBK

1.Motion authorizing the City Manager, the City Attorney, or their designees, to enter into and execute an amendment to the existing Legal Services Agreement with BBK, Contract No. 8001628, in the amount of $50,000, for a new not to exceed amount of $200,000, in order for BBK to provide legal services related to the Grayson Repowering Project’s permit variance application before the South Coast Air Quality Management District.

2.Motion authorizing the City Attorney to consent to and execute a Conflict-of- Interest Waiver for BBK’s representation of the South Coast Air Quality Management District in unrelated matters.

COUNCIL ACTION
Item Type: Consent Item
Approved for March 31, 2026 calendar

EXECUTIVE SUMMARY
City Council’s authorization is requested for an amendment to the City’s existing Legal Services Agreement with BBK to increase the contract amount by $50,000 in order for BBK to provide legal services related to the Grayson Repowering Project’s permit variance application before the South Coast Air Quality Management District (SCAQMD), as well as a waiver of legal conflict of interest for BBK’s representation of the SCAQMD in unrelated matters.

RECOMMENDATION
That the City Council authorize the City Manager and City Attorney to enter into and execute an amendment to the existing Legal Services Agreement with BBK to increase the contract amount by $50,000 for BBK to provide legal services related to the Grayson Repowering Project’s permit variance application before the SCAQMD; and authorize the City Attorney to consent to and execute a waiver of the conflict described herein. 54 of 280

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ANALYSIS
In January 2022, the City entered into a Legal Services Agreement with BBK, in the not to exceed amount of $150,000, for BBK’s specialized representation of the City’s interests in various environmental issues surrounding the Biogas Renewable Generation Project, which issues have resolved.

The City’s Legal Service Agreement currently has a balance of approximately $18,000 remaining and available.

The Grayson Repowering Project requires specialized representation of the City in assisting with the application of a permit variance from the SCAQMD. The variance is being requested to support an accelerated commissioning schedule as Glendale Water & Power Department (GWP) works to recover from the delayed delivery of the Wartsila engines. Specifically, the variance application will request that the time limit for individual engine start-up and testing emissions be co-mingled among all three engines rather than on an engine-by-engine basis, so that the first engine can use some of the hours assigned to the second and third engines. Once Wartsila has the first engine tuned, the other two should follow quickly. Thus, having more hours for the first engine tuning should reduce the time for the overall commissioning process. The variance will apply only to the start- up/commissioning process and thereafter the permit will revert to original requirements as granted. Staff is asking to use BBK for this work due to their long-standing relationship with SCAQMD. BBK has provided the City with an estimated budget in the amount of $50,000.

BBK is also seeking a conflict waiver from the City, relating to BBK’s representation of SCAQMD in unrelated matters, to represent the City with the permit variance application.

As a part of the conflict waiver, in the event the permit variance application goes beyond the SCAQMD hearing board (e.g. if the SCAQMD hearing board denies the variance and the City desires to appeal or challenge the denial), the City will be required to hire a non- BBK attorney for its representation of the appeal against the SCAQMD.

STAKEHOLDERS/OUTREACH
Not applicable.

FISCAL IMPACT
There is no fiscal impact associated with the concurrence with and the execution of the Conflict Waiver described herein.

The fiscal impact of the $50,000 increase to the Legal Services Agreement can be absorbed within the Grayson Repowering Project budget. No new appropriation is requested at this time. The City Council approved funding is outlined on the next page:
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Existing Appropriation
Amount Account String Funding Source
$50,000 GL: 53150-5830-GWP-0020-P0000-
PL: P13748
Electric
Depreciation Fund
Department Cost Center Program
Glendale Water
and Power
Projects

ENVIRONMENTAL REVIEW (CEQA/NEPA)
The action requested herein has no potential for resulting in either a direct physical change in the environment, or a reasonably foreseeable indirect physical change in the environment, and as such is not a project subject to the requirements of the California Environmental Quality Act (CEQA) 14 Cal. Code Regs. Section 15378

CAMPAIGN DISCLOSURE
The names and business addresses of the members of the board of directors, the chairperson, CEO, COO, CFO, Subcontractors and any person or entity with more than 10% interest in BBK are attached in Exhibit A, in accordance with the City Campaign Finance Ordinance No. 5744.

ALTERNATIVES TO STAFF RECOMMENDATION

1. Not authorizing the amendment to the City’s existing Legal Services Agreement with BBK and the Conflict-of-Interest Waiver as requested herein.

2. Council’s consideration of any other alternatives not proposed by staff.

ADMINISTRATIVE ACTION
Submitted by:

Michael J. Garcia, City Attorney
Prepared by:

Dorine Martirosian, Principal Assistant City Attorney
Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
Exhibit A – Campaign Disclosure Form for Best Best & Krieger, LLP 56 of 280

M O T I O N
Moved by Council Member ________________________________, seconded by Council Member __________________________________, that the City Council hereby authorizes the City Manager, the City Attorney, or their designees, to enter into and execute an amendment to the City’s existing Legal Services Agreement, Contract No. 8001628, with Best Best & Krieger, LLP in the amount of $50,000, for a new not to exceed amount of $200,000, in order for BBK to provide legal services related to the Grayson Repowering Project’s permit variance application before the South Coast Air Quality Management District as described in the Report Dated March 31, 2026 by the City Attorney. The form of said amendment shall be subject to approval by the City Attorney.

Vote as follows:

Ayes:

Noes:

Absent:

Abstain:
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M O T I O N
Moved by Council Member ________________________________, seconded by Council Member __________________________________, that the City Council hereby authorizes the City Attorney to consent to and execute a Waiver of Conflict of Interest to Best Best & Krieger, LLP’s representation of the South Coast Air Quality Management District in unrelated matters, as described in the Report Dated March 31, 2026 by the City Attorney.

Vote as follows:

Ayes:

Noes:

Absent:

Abstain:
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Rev. 11/8/17 -1-
City of Glendale

DISCLOSURE - CAMPAIGN FINANCE ORDINANCE
The City Council adopted Ordinance No. 5744, “Campaign Finance Ordinance,” which became effective on September 9, 2011, and subsequently amended it with Ordinance No. 5768, which became effective on March 15, 2012 and Ordinance No. 5885, which became effective on November 3, 2016 (“the Ordinance”). The Ordinance prohibits: (1) A contractor * (including a subcontractor **)― who has a contract with the City of Glendale (“City”), the Successor Agency (“SA”), or the Housing Authority of the City of Glendale (“HA”) and that contract is subject to approval by the City Council, SA, or HA― from making a contribution to a City Council member, SA member, HA member, City Clerk, or City Treasurer; and (2) Council members, SA members, and HA members from voting on matters concerning a contract with a person who has provided a campaign contribution.

The Ordinance applies to a contractor whose contract requires the City Council’s, SA’s, or HA’s approval. A contract with the City, SA, or HA is known as a “City Contract.” The Ordinance also applies to a subcontractor who has a subcontract through a City Contract. The Ordinance excludes a competitively bid contract awarded to the lowest responsible bidder.

To assist members of the City Council, SA, and HA before they vote on a matter regarding a City Contract, the Ordinance requires City staff to prepare this report which discloses certain information about: the contractor receiving the City Contract, and the subcontractor(s) working under the City Contract.

A contractor must provide the information listed below when: A subcontractor must provide the information listed below when:
 The City Contract is subject to City Council approval; or  The subcontract through a City Contract has a total anticipated or actual value of $25,000 or more; or
 A combination or series of City Contracts totaling $50,000 or more is subject to Council approval.
 A combination or series of subcontracts, for the same or different projects, have an aggregate value of $25,000 or more.

Information that must be disclosed: ● Name of the person, entity, or organization (i.e., the Contractor or Subcontractor) ● Name of the Chief Executive Officer/President
● Chief Operating Officer
● Chief Financial Officer
● Chairperson
● All members of the Board of Directors
● All persons who own more than 10% of the person, entity, or organization ● Name of any campaign committee owned or controlled by the person, entity, or organization Please complete the following disclosure form:

Contractor(s)*:

Name Address
Best Best & Krieger LLP
Full Name Title Business Address City State Zip
Chairperson
Charity Schiller Chief Executive Officer 3390 University Avenue, 5th Floor PO Box 1028
Riverside CA 92502
Jamie Zamoff Chief Operating Officer 655 West Broadway, Suite 1500 San Diego CA 92101 Susan Plummer Chief Financial Officer 655 West Broadway, Suite 1500 San Diego CA 92101 Board of Directors
n/a More than 10% interest owner
* “Contractor” is the person, entity, or organization that is the party, or prospective party, to the contract with the City, SA, or HA or any member of that person’s, entity’s, or organization’s Board of Directors, its Chairperson, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, any person with an 59 of 280

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ownership interest of more than ten percent (10%) in that person, entity, or organization, and any campaign committee that is owned or controlled by that person, entity, or organization. Above please disclose these persons’ name and business address.

Subcontractor(s)**:

Name Address
n/a
Full Name Title Business Address City State Zip
Chairperson
Chief Executive Officer / President
Chief Operating Officer
Chief Financial Officer
Board of Directors
More than 10% interest owner
** “Subcontractor” is the person, entity, or organization that has entered into a contract for the performance of all or a portion of the work undertaken under an agreement with an architect, design professional, engineer, or general or prime contract, usually by a general or prime contractor. Subcontractor includes any member of that person’s, entity’s, or organization’s Board of Directors, its Chairperson, Chief Executive Officer, Chief Financial Officer, Chief Operating Officer, any person with an ownership interest of more than ten percent (10%) in that person, entity, or organization, and any campaign committee that is owned or controlled by that person, entity, or organization. Above please disclose these persons’ name and business address.

Campaign Committee owned or controlled by: Best Best & Krieger does not control a Campaign Committee Title Business Address City State Zip

CERTIFICATION
On behalf of the above-named Contractor Subcontractor:
 I acknowledge that I have a continuing obligation to update this disclosure form if I substitute ― or if I select additional ― architects, design professionals, contractors, or subcontractors within ten (10) days of the selection or change; and  I hereby certify that:
 I have identified all persons for which the Ordinance requires disclosure;  The information in this disclosure form (and any attachment to this form) is true, accurate, correct, and complete; and  I have been legally authorized to submit this disclosure form.

In total, this disclosure form (including attachments) is 2 pages.

Executed on: March 24 , 2026 , at Los Angeles, , California.

Signature: Print Full Name: Wendy Y. Wang
Address: 300 S. Grand Avenue, 25th Floor, Los Angeles, CA 90071 Phone Number: (213) 787-2554 E-mail Address: [email protected] 60 of 280

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CITY OF GLENDALE, CALIFORNIA

REPORT TO THE CITY COUNCIL

AGENDA ITEM
Report: Glendale Water and Power (GWP) Electric Revenue Refunding Bonds 2026 - Adoption of Ordinance and Authorizing Issuance of Bonds and Adoption of Resolution Authorizing the Invitation of Bids and Various Actions Relating to the Issuance of the Bonds.
1) Ordinance authorizing the issuance by the City of not to exceed $45,000,000 Aggregate Principal Amount of City of Glendale Electric Revenue Bonds, 2026 Refunding Series, Payable out of the Electric Works Revenue Fund, and approving certain other actions in connection therewith. 2) Resolution authorizing the invitation of bids for the purchase of Electric Revenue Bonds, 2026 Refunding Series of the City of Glendale; approving a Notice of Intention to Sell bonds, a Preliminary Official Statement (POS), a Notice Inviting Bids and Official Bid Form; authorizing the publication of a Notice of Intention to Sell Bonds; authorizing the execution and delivery of a final Official Statement, a Twelfth Supplement to Indenture of Trust, a Continuing Disclosure Agreement, and an Escrow Agreement; and authorizing the award of the Bonds.

COUNCIL ACTION
Item Type: Ordinance
Approved for March 31, 2026 calendar

EXECUTIVE SUMMARY
GWP recommends to issue revenue bonds to refund the 2016 Refunding Bonds for an estimated savings of approximately $5.6 million.

On March 10, 2026, the City Council introduced an Ordinance authorizing the issuance of $45,000,000 aggregate electric revenue bond refunding. Staff now recommends that the City Council can adopt the introduced Ordinance and the presented Resolution authorizing various actions in connection with the refunding of the herein-referenced bonds.
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RECOMMENDATION
Approve the herein-requested actions to authorize the preparation and issuance of the electric revenue bonds refunding:
a. Adoption of the Ordinance authorizing the issuance of bonds, which was introduced on March 10, 2026.
b. Adoption of the resolution authorizing the invitation of bids for the purchase of Electric Revenue Bonds, 2026 Refunding Series of the City of Glendale; approving a Notice of Intention to sell bonds, a Preliminary Official Statement (POS), a Notice Inviting Bids and Official Bid Form; authorizing the publication of a Notice of Intention to Sell Bonds; authorizing the execution and delivery of a final Official Statement, a Twelfth Supplement to Indenture of Trust, a Continuing Disclosure Agreement, and an Escrow Agreement; and authorizing the award of the Bonds.

ANALYSIS
In 2016, the City of Glendale issued its Electric Revenue Bonds, 2016 Refunding Series, to refund its 2006 Electric Bonds and a portion of the 2008 Electric Bonds.

Total 2016 Electric Bond par at issuance was $72,615,000, and currently $43,105,000 is outstanding. The 2016 Refunding Series maturing on and after February 1, 2027, are subject to redemption prior to maturity, at the option of the City, as a whole or in part, on or after February 1, 2026.

The proposed refinancing of the 2016 Electric Refunding Bonds is expected to save on average about $570,000 per year through 2038 and achieve net present value savings of approximately $5.6 million over the life of the bonds. The effective borrowing cost is estimated at 2.60%. The actual interest rate and resulting savings shall be determined at the time of sale, and the sale of the bonds is contingent upon the realization of the sufficient savings.

Based on the short term of the refunding bonds (12 years), a ten-year optional redemption feature (customary in the municipal bond market) might not offer the benefits it usually does because that feature would apply only to the two maturities on the tail end of the refunding bonds. For that reason, if market conditions during bond marketing warrant, the City may forego the customary optional redemption feature to instead potentially lower debt service costs on the refunding bonds.

Additionally, the electric revenue refunding bonds will provide funds to make a deposit to a debt service reserve fund (if not otherwise satisfied with amounts on deposit under the Indenture of Trust), and to pay the costs of issuance of the Bonds.

The Ordinance, introduced by the City Council on March 10, 2026, will authorize the issuance of refunding bonds as described herein. The Resolution will authorize the Invitation of Bids for the purchase and refunding of the refunded Bonds; will approve a Notice of Intention to Sell Bonds, a Preliminary Official Statement, a Notice Inviting Bids and the Official Bid Form; will authorize the publication of a Notice of Intention 62 of 280

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to Sell Bonds; will authorize the execution and delivery of a final Official Statement, a Twelfth Supplement to Indenture of Trust for the refunding bonds, a Continuing Disclosure Agreement and an Escrow Agreement will authorize the award of the bonds.

STAKEHOLDERS/OUTREACH
Not applicable.

FISCAL IMPACT
Issuance costs are estimated at $600,000 and will be paid at the closing of the issue, using refunding bond proceeds for payment. Therefore, no new appropriation is being requested at this time.

ENVIRONMENTAL REVIEW (CEQA/NEPA)
Not applicable to the action requested as the action does not involve a project for the purposes of California Environmental Quality Act.

CAMPAIGN DISCLOSURE
Not applicable.

ALTERNATIVES TO STAFF RECOMMENDATION
Alternative 1: Choose not to authorize the actions requested and recommended in this report.

Alternative 2: Consider any other alternative not proposed by staff.

ADMINISTRATIVE ACTION
Submitted by:

Scott K. Mellon, P.E., General Manager - Glendale Water and Power Prepared by:

Adrine Isayan, Assistant General Manager - Finance & Risk Management Approved by:

Roubik R. Golanian, P.E., City Manager

EXHIBITS/ATTACHMENTS
Exhibit A: Notice of Intention to Sell
Exhibit B: Notice Inviting Bids
Exhibit C: Twelfth Supplement to Indenture
Exhibit D: Continuing Disclosure Agreement
Exhibit E: Preliminary Official Statement

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ORDINANCE NO. ______

AN ORDINANCE OF THE CITY OF GLENDALE AUTHORIZING THE
ISSUANCE BY THE CITY OF NOT TO EXCEED $45,000,000

AGGREGATE PRINCIPAL AMOUNT OF CITY OF GLENDALE
ELECTRIC REVENUE BONDS, 2026 REFUNDING SERIES, PAYABLE

OUT OF THE ELECTRIC WORKS REVENUE FUND, AND APPROVING
CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH.

WHEREAS, pursuant to Article XXVI of the Charter (the “Charter”) of the City of Glendale, California (the “City”), the City Council of the City (the “City Council”) is authorized to provide for the issuance of revenue bonds for the purpose of providing moneys for the financing or refinancing of the acquisition or construction of additions to, or extensions or improvements of, the municipal electric system of the City (the “Electric System”) by ordinance authorizing the issuance of such revenue bonds; and
WHEREAS, pursuant to Article XXVI of the Charter, the City now proposes to issue its Electric Revenue Bonds, 2026 Refunding Series (the “Bonds”) pursuant to the Original Indenture, as supplemented and amended, including as supplemented by a Twelfth Supplement to Indenture of Trust, dated as of May 1, 2026 (the “Twelfth Supplement”), by and between the City and the Trustee (collectively, the “Indenture of Trust”), to provide moneys for (i) refunding all or a portion of the outstanding City of Glendale, California Electric Revenue Bonds, 2016 Refunding Series; (ii) making a deposit to a debt service reserve fund, if appropriate or necessary; and (iii) paying the costs of issuance of the Bonds; and
WHEREAS, the Bonds shall not constitute an indebtedness of the City but shall constitute obligations which shall be payable as to both principal and interest only from the Electric Works Revenue Fund of the City, as provided in Section 20 of Article XI of the Charter; provided, however, that nothing shall preclude the payment of debt service on the Bonds from any premium or accrued interest received from the sale of the Bonds as provided in Subsection 4 of Section 4 of Article XXVI of the Charter; and
WHEREAS, this Ordinance is for the purpose of authorizing the issuance of the Bonds.

NOW, THEREFORE, BE IT ORDAINED by the Council of the City of Glendale:

Section 1. Authorization to Issue Bonds; Purposes; Principal Amount. (a) Pursuant to Article XXVI of the Charter, the City Council does hereby authorize to be issued, upon the terms and conditions as hereinafter set forth, the Bonds in the aggregate principal amount of $45,000,000 (or such lesser amount as shall be approved by the City Manager upon consultation with the Director of Finance, the execution of the applicable Bonds constituting conclusive evidence of the City Manager’s approval of such principal amount) for the following objects and purposes: (A) refunding of all or a portion of the outstanding City of Glendale, California Electric Revenue Bonds, 2016 Refunding Series; (B) making a deposit to a debt service reserve fund, if appropriate or necessary; and (C) paying the costs of issuance of the Bonds. 64 of 280

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(b) This Ordinance shall constitute complete authority to issue the Bonds pursuant to the Indenture of Trust, as provided herein. The Bonds shall be issued pursuant to and in accordance with the terms and conditions set forth in this Ordinance, and more specifically in the Indenture of Trust.

Section 2. Date of Issuance; Maximum Interest Rate. The Bonds shall be issued on or about May 27, 2026 (or such other date as shall be acceptable to the City Manager upon consultation with the Director of Finance). The maximum interest rate to be payable on any maturity of Bonds shall not exceed six percent (6.0%) per annum.

Section 3. Maturity Dates. The Bonds shall mature (or be payable by sinking fund redemption) in each of the years 2027 through 2038, inclusive (or in such other years as shall be acceptable to the City Manager upon consultation with the Director of Finance). Subject to the preceding sentence, the Bonds shall mature and be payable on such dates as specifically set forth in the Twelfth Supplement.

Section 4. Execution of Bonds. The Mayor and the Director of Finance are each hereby authorized and directed to execute the Bonds manually or by facsimile signature, and the City Clerk is hereby authorized to attest such signatures by manual or facsimile signature. The City Clerk is hereby authorized to affix the seal of the City to the Bonds by manual or facsimile impression thereon.

Section 5. Source of Payment. The Bonds shall not constitute an indebtedness of the City but shall constitute obligations which shall be payable as to both principal and interest only from the Electric Works Revenue Fund of the City, as provided in Section 20 of Article XI of the Charter; provided, however, that nothing shall preclude the payment of debt service on the Bonds from any premium or accrued interest received from the sale of the Bonds as provided in Subsection 4 of Section 4 of Article XXVI of the Charter.

Section 6. Official Action. All actions heretofore taken by the officers and agents of the City with respect to the issuance of the Bonds and the negotiation and execution of the agreements relating thereto are hereby approved, confirmed and ratified. The City Manager, the Director of Finance, the City Treasurer, the City Clerk and any and all other officers of the City are hereby authorized and directed, for and in the name and on behalf of the City, to do any and all things and take any and all actions, including, without limitation, the execution and delivery of any and all certificates, requisitions, agreements, policies (including one or more municipal bond insurance policies and one or more debt service reserve account policies) and other documents, which they, or any of them, may deem necessary or advisable in connection with the issuance, sale and delivery of the Bonds.

Section 7. Provisions Necessary and Desirable. The provisions of this Ordinance are deemed necessary and desirable to facilitate the issuance, sale and delivery of the Bonds authorized by this Ordinance.

Section 8. Publication. The City Clerk shall certify to the passage and adoption of this Ordinance and shall cause this Ordinance to be published once in the Glendale Independent, a newspaper of general circulation published in the City. 65 of 280

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Section 2. Effective Date. This Ordinance shall take effect on the thirty-first (31 st) day after its passage.

Passed by the Council of the City of Glendale on the ___ day of ____________, 2026.

Mayor
ATTEST:

City Clerk

STATE OF CALIFORNIA )

COUNTY OF LOS ANGELES ) SS

CITY OF GLENDALE )
I, DR. SUZIE ABAJIAN, City Clerk of the City of Glendale, certify that Ordinance No. ______ was passed by the Council of the City of Glendale, California, at a regular meeting held on the ____ day of ____________, 2026, and that same was passed by the following vote:

Ayes:

Noes:

Absent:

Abstain:

City Clerk
66 of 280

RESOLUTION NO. 26-______

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF GLENDALE,

CALIFORNIA AUTHORIZING THE INVITATION OF BIDS FOR THE
PURCHASE OF ELECTRIC REVENUE BONDS, 2026 REFUNDING
SERIES OF THE CITY OF GLENDALE; APPROVING A NOTICE OF

INTENTION TO SELL BONDS, A PRELIMINARY OFFICIAL
STATEMENT, A NOTICE INVITING BIDS AND OFFICIAL BID FORM;

AUTHORIZING THE PUBLICATION OF A NOTICE OF INTENTION TO SELL BONDS; AUTHORIZING THE EXECUTION AND DELIVERY OF

A FINAL OFFICIAL STATEMENT, A TWELFTH SUPPLEMENT TO

INDENTURE OF TRUST, A CONTINUING DISCLOSURE AGREEMENT
AND AN ESCROW AGREEMENT; AND AUTHORIZING THE AWARD

OF THE BONDS
WHEREAS, the City Council of the City of Glendale, California (the “City Council”) deems it necessary and proper that bids be invited for the purchase of the Electric Revenue Bonds, 2026 Refunding Series (the “Bonds”) of the City of Glendale, California (the “City”) and that the Bonds be sold in the manner and at the time and place or times and places hereinafter set forth; NOW, THEREFORE, the City Council does hereby resolve, determine, ratify and order as follows:

Section 1.Bids for the purchase of the Bonds shall be received by the City Manager, the Assistant City Manager (including the Assistant City Manager, Management Services), the Director of Finance of the City or the designee of any of them (each an “Authorized Officer”) at the time and place determined as provided in the Notice of Intention to Sell Bonds and the Notice Inviting Bids as hereinafter approved.

Section 2.Each Authorized Officer is hereby authorized and directed to publish a Notice of Intention to Sell Bonds, prior to the date of receiving proposals for the purchase of the Bonds, substantially in the form on file with the City Clerk, a copy of which has been made available to the City Council, by one insertion in the Glendale Independent, a newspaper of general circulation published in the City.

Section 3.Each Authorized Officer is further authorized and directed to publish a Notice of Intention to Sell Bonds by one insertion in The Bond Buyer, or another financial publication generally circulated throughout California, prior to the date of receiving proposals for the purchase of the Bonds.

Section 4.The City Council hereby approves the Preliminary Official Statement substantially in the form on file with the City Clerk, a copy of which has been made available to the City Council, with such changes therein as an Authorized Officer may determine necessary, to be furnished to prospective bidders for the Bonds as provided in Section 5 hereof. The City authorizes each Authorized Officer to deem the Preliminary Official Statement to be final within the meaning of U.S. Securities and Exchange Commission Rule 15c2-12, subject to completion of those items permitted by such Rule. The City Council directs the City Clerk to file the Preliminary 67 of 280

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Official Statement in the City Clerk’s office and to identify it as being the Preliminary Official Statement so approved hereby. Each Authorized Officer is authorized and directed to execute and deliver a final Official Statement in substantially the form of the Preliminary Official Statement hereby approved, with such additions thereto and changes therein as are consistent with this Resolution and recommended or approved by Bond Counsel, Disclosure Counsel or counsel to the City and approved by the Authorized Officer executing the final Official Statement, such approval to be conclusively evidenced by the execution and delivery thereof.

Section 5.Each Authorized Officer is authorized and directed to cause to be provided or furnished to prospective bidders, upon their request, the Preliminary Official Statement and a reasonable number of copies of the Ordinance authorizing the issuance of the Bonds, the Indenture of Trust, dated as of February 1, 2000, by and between the City and The Bank of New York Mellon Trust Company, N.A., as successor to The Bank of New York Trust Company, N.A., as trustee (the “Trustee”), as supplemented and amended, including as supplemented by a Twelfth Supplement to Indenture of Trust (the “Twelfth Supplement”) relating to the Bonds, proposed to be executed and delivered by the City and the Trustee (collectively, the “Indenture of Trust”).

Each Authorized Officer is authorized and directed to cause to be furnished to prospective bidders, upon their request, a reasonable number of copies of the Notice Inviting Bids and Official Bid Form substantially in the form on file with the City Clerk, a copy of which has been made available to the City Council. Each Authorized Officer is further authorized and directed, after any proposal for the purchase of the Bonds has been accepted by an Authorized Officer, and after the final Official Statement has been prepared, to cause to be furnished to the successful bidder or bidders, as the case may be, for use in connection with the resale of the Bonds, such number of copies of the final Official Statement as may be reasonably required.

Section 6.Each Authorized Officer may withdraw or modify the Notice Inviting Bids, the Official Bid Form and/or the Notice of Intention to Sell Bonds at any time by notice announced through the Parity® electronic bid submission system of Ipreo or other means determined by the Authorized Officer to be reasonably calculated to reach potential bidders for the Bonds. If an Authorized Officer should withdraw the Notice Inviting Bids and the Official Bid Form or the Notice of Intention to Sell Bonds at any time before all of the Bonds are awarded, and should at a later date determine that it is desirable to receive bids for all or a portion of the Bonds, then each Authorized Officer is hereby authorized to redistribute the Notice Inviting Bids and the Official Bid Form and republish the Notice of Intention to Sell Bonds with such modifications or revisions as are approved by the Authorized Officer.

Section 7.Each Authorized Officer is hereby authorized to award the purchase of the Bonds to the bidder or bidders (which bidder or bidders may bid by electronic means) that provide the highest responsible bid for the Bonds that produces the lowest true interest cost to the City as provided in the Notice Inviting Bids. Each Authorized Officer is hereby further authorized to reject any and all bids as he or she deems appropriate and to waive any irregularity or informality in any bid or bids.

Section 8.To prescribe the terms and conditions upon which the Bonds are to be issued, secured, executed, authenticated and held, the Twelfth Supplement proposed to be executed and delivered by the City and the Trustee, in substantially the form on file with the City Clerk, a copy of which has been made available to the City Council, is hereby approved, and each 68 of 280

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Authorized Officer is hereby authorized and directed, for and in the name and on behalf of the City, to execute, and the City Clerk is authorized to affix the official seal of the City to, and deliver the Twelfth Supplement to the Trustee in substantially such form, with such changes (including, without limitation, changes relating to the issuance of a municipal bond insurance policy and/or a surety bond for the debt service reserve fund, satisfaction of all or a portion of the reserve fund requirement through amounts on deposit under the Indenture instead of Bond proceeds or such changes as may be requested by any rating agency providing a rating on the Bonds) as may be approved by the Authorized Officer executing the same, acting on behalf of the City, subject to advice of counsel, such execution thereof to constitute conclusive evidence of the approval of the City of all changes from the form of the Twelfth Supplement presented to this meeting.

Section 9.The Continuing Disclosure Agreement, proposed to be executed and entered into by and between the City and the Trustee, in substantially the form on file with the City Clerk, a copy of which has been made available to the City Council, is hereby approved, and each Authorized Officer is hereby authorized and directed, for and in the name and on behalf of the City, to execute and deliver to the Trustee the Continuing Disclosure Agreement in substantially said form, with such changes as may be approved by the Authorized Officer executing the same, acting on behalf of the City, subject to advice of counsel, such execution thereof to constitute conclusive evidence of the approval of the City of all changes from the form of the Continuing Disclosure Agreement presented to this meeting.

Section 10.Unless obtained by the successful bidder or bidders of the Bonds, each Authorized Officer is hereby authorized to obtain municipal bond insurance for all or any portion of the Bonds, provided that the premium for such insurance does not exceed 2.0% of the payments insured. Each Authorized Officer is hereby authorized and directed to execute and deliver any commitment, guaranty, subrogation agreement or other similar agreement in connection with such insurance as shall be approved by the Authorized Officer executing the same (such approval to be conclusively evidenced by his or her execution and delivery thereof).

Section 11.The Escrow Agreement in connection with the Bonds, proposed to be executed and entered into by and between the City and the Trustee, in substantially the form on file with the City Clerk, a copy of which has been made available to the City Council, is hereby approved, and each Authorized Officer is hereby authorized and directed, for and in the name and on behalf of the City, to execute and deliver to the Trustee the Escrow Agreement in substantially said form, with such changes as may be approved by the Authorized Officer executing the same, acting on behalf of the City, subject to advice of counsel, such execution thereof to constitute conclusive evidence of the approval of the City of all changes from the form of the Escrow Agreement presented to this meeting.

Section 12.The refunding of the Refunded Bonds (as defined in the Twelfth Supplement) as provided in the Twelfth Supplement and the Indenture of Trust is hereby authorized. Each Authorized Officer is hereby authorized on behalf of the City to purchase Federal Securities (as defined in the Indenture), including non-callable State and Local Government Series obligations of the United States of America issued by the Bureau of Public Debt and/or certain direct obligations of the United States of America purchased on the open market, in such amounts, maturing at such times and bearing such rates of interest as shall be necessary to pay when due the 69 of 280

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Refunded Bonds as provided in the Escrow Agreement, and to take such other action he or she may deem necessary or appropriate to effectuate the purchase of said obligations.

Section 13.Each Authorized Officer and the City Treasurer and any other officer of the City is hereby authorized to (i) take any and all actions which such person deems necessary or advisable in order to effect the registration or qualification (or exemption therefrom) of the Bonds for issue, offer, sale or trade under the “Blue Sky” or securities laws of any of the states of the United States of America and in connection therewith to execute, acknowledge, verify, deliver, file or cause to be published any applications, reports, and other papers and instruments which may be required under such laws, and to take any and all further actions which such person may deem necessary or advisable in order to maintain any such registration or qualification and (ii) execute and deliver any and all agreements (including, but not limited to, investment agreements or guaranteed investment agreements), a tax certificate, documents and instruments and to do and cause to be done any and all acts and things deemed necessary or advisable for carrying out the transactions contemplated by this Resolution. Such actions heretofore taken by such officers or their designees are hereby ratified, confirmed and approved.

Section 14.In accordance with California Government Code Section 5852.1, good faith estimates of the following are set forth on Exhibit A attached hereto: (a) the true interest cost of the Bonds, (b) the sum of all fees and charges paid to third parties with respect to the Bonds, (c) the amount of proceeds of the Bonds expected to be received net of the fees and charges paid to third parties and any reserves or capitalized interest paid or funded with proceeds of the Bonds, and (d) the sum total of all debt service payments on the Bonds calculated to the final maturity thereof plus the fees and charges paid to third parties not paid with the proceeds of the Bonds.

Section 15.This Resolution shall become effective immediately. 70 of 280

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71 of 280

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EXHIBIT A

GOOD FAITH ESTIMATES
The following information was obtained from the Municipal Advisor with respect to the Bonds approved in the Resolution, and is provided in compliance with California Government Code Section 5852.1 with respect to the Bonds:

1.True Interest Cost of the Bonds. Assuming an aggregate principal amount of $38,875,000.00 of the Bonds are sold and based on market interest rates prevailing at the time of preparation of this information, a good faith estimate of the true interest cost of the Bonds, which means the rate necessary to discount the amounts payable on the respective principal and interest payment dates to the purchase price received for the Bonds, is 2.51%.

2.Finance Charge of the Bonds. Assuming an aggregate principal amount of $38,875,000.00 of the Bonds are sold and based on market interest rates prevailing at the time of preparation of this information, a good faith estimate of the finance charge of the Bonds, which means the sum of all fees and charges paid to third parties (or costs associated with the Bonds), is $428,375.00.

3.Amount of Proceeds to be Received. Assuming an aggregate principal amount of $38,875,000.00 of the Bonds are sold and based on market interest rates prevailing at the time of preparation of this information, a good faith estimate of the amount of proceeds expected to be received by the City for sale of the Bonds less the finance charge of the Bonds described in 2 above and any reserves or capitalized interest paid or funded with proceeds of the Bonds, is $43,524,466.05.

4.Total Payment Amount. Assuming an aggregate principal amount of $38,875,000.00 of the Bonds are sold and based on market interest rates prevailing at the time of preparation of this information, a good faith estimate of the total payment amount, which means the sum total of all payments the City will make to pay debt service on the Bonds plus the finance charge of the Bonds described in paragraph 2 above not paid with the proceeds of the Bonds, calculated to the final maturity of the Bonds, is $49,935,680.56.

Attention is directed to the fact that the foregoing information constitutes good faith estimates only. The actual interest cost, finance charges, amount of proceeds and total payment amount may vary from the estimates above due to variations from these estimates in the timing of Bond sales, the amount of Bonds sold, the amortization of the Bonds sold and market interest rates at the time of each sale. The date of sale and the amount of Bonds sold will be determined by the City based on market and other factors. The actual interest rates at which the Bonds will be sold will depend on the Bond market at the time of sale. The actual amortization of the Bonds will also depend, in part, on market interest rates at the time of sale. Market interest rates are affected by economic and other factors beyond the City’s control.
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Adopted by the Council of the City of Glendale on this ____ day of _________, 2026.

Mayor
ATTEST:

City Clerk

STATE OF CALIFORNIA )
COUNTY OF LOS ANGELES ) ss

CITY OF GLENDALE )
I, DR. SUZIE ABAJIAN, City Clerk of the City of Glendale, California, do hereby certify that Resolution No. 26-_____ was adopted by the Council of the City of Glendale, California at a regular meeting held on the ____ day of ____________, 2026, and that same was adopted by the following vote:

Ayes:

Noes:

Absent:

Abstain:

City Clerk
74 of 280

302015650.2

NOTICE O

F INTENTION TO SELL
$[PAR AMOUNT]*

CITY OF GLENDALE, CALIFORNIA
Electric Revenue Bonds,
2026 Refunding Series
NOTICE IS HEREBY GIVEN that the City of Glendale, California (the “City”) intends to offer for public sale, only through electronic bidding, respectively at [_____], [_____], 2026
[8:00] a.m., California Time
(or such other date and at such other time as is announced via Ipreo) through the use of the Parity® electronic bid submission system of Ipreo, at www.newissuehome.i-deal.com the City of Glendale, California Electric Revenue Bonds, 2026 Refunding Series (the “Bonds”). No other means of delivery of bids will be accepted. The City reserves the right to postpone from time to time, or cancel, the sales, provided that notice of such change is given through Ipreo prior to such change, as described under “Postponement,” “Right of Cancellation by Cit y,” and “Right to Modify or Amend” in the Notice Inviting Bids.

The Bonds are being issued by the City to (i) refund all or a portion of the City’s outstanding Electric Revenue Bonds, 2016 Refunding Series, and (ii) pay the costs of issuance of the Bonds.

The public sale and the right to submit a bid are subject to the terms and conditions of the Notice Inviting Bids. Electronic co pies of the Notice Inviting Bids and the Preliminary Official Statement relating to the Bonds may be obtained by request to the City’s Municipal Advisor, PFM Financial Advisors LLC; Telephone (213) 415-1624; Attention: Mike Berwanger.

CITY OF GLENDALE, CALIFORNIA
Dated: [____], 2026
______________
* Preliminary, subject to change.

EXHIBIT A
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Norton Rose Fulbright US LLP draft 2/21/26
302015663.2

NOTICE I

NVITING BIDS
$[PAR AMOUNT]*

CITY OF GLENDALE, CALIFORNIA
Electric Revenue Bonds, 2026 Refunding Series
NOTICE IS HEREBY GIVEN that bids as de scribed herein will be received by the Director of Finance of the City of Glendale, California (the “City”), or his designee, for the purchase of all, but not less than all, of the Ci ty of Glendale, California Electric Revenue Bonds, 2026 Refunding Series (the “Bonds”), more particularly described herein.

The bids will be received in the form, in th e manner and up to the time specified below (unless postponed or cancelled as described herein):

Date and Time: [___], [___], 2026
[8:00] a.m., California time
Electronic Bids: Electronic proposals may be submitted through the BiDCOMPTM/PARITY® electronic bid submission
system of Ipreo, at www.newissuehome.i-deal.com.

Ipreo will act as agent of the bidder and not of the
City in connection with the submission of bids, and
the City assumes no responsibility or liability for bids submitted through Ipreo’s sy stem. See “Electronic
Bidding” herein.

No Facsimile, Hand Delivery No facsimile, hand delivery or sealed bids will be or Sealed Bids: accepted.

No bid will be received after the applicable time specifie d above. To the extent any instructions or directions set forth in Ipreo conflict with this Notice Inviting Bids, the terms of this Notice Inviting Bids shall contro l. Further informa tion about Ipreo, including qualification, registration, rules and any fee charged, may be obtained from Ipreo at (212) 849-5021.

Type of Bid Allowed
Subject to the bid requirements described in this Notice Inviting Bids, conforming bids for the Bonds may be submitted on only an “all-or-none” basis for all of the Bonds, and if such bid is accepted by the City, the bidder will be required to purchase all of the Bonds in accordance with such bid. All bids must be unconditional.

Receipt of Bids and Award of Bonds
Bids will be received in electronic form only and solely through the electronic bid submission system of Ipreo. The City reserves the right to reject any and all bids and to waive any irregularity or error in any bid. No bid may be withdrawn after the time set for the closing of bids. * Preliminary, subject to change.

EXHIBIT B
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302015663.2
2 The bids will be received at the above time and date. The Director of Fi nance, or his designee, acting on behalf of the City, will take official action awarding the Bonds or rejecting all bids with respect to the Bonds not later th an 2 hours after the time established for receipt of bids for the Bonds, unless such time period is waived by the winning bidder.

Purpose of the Bond Issues
The Bonds are being issued by the City to (i) refund all or a portion of the City’s outstanding Electric Revenue B onds, 2016 Refunding Series (the “2016 Refunding Bonds”) and (ii) pay the costs of issuance of the Bonds.

Authority for Issuance
The Bonds are authorized and will be issued pursuant to Article XXVI of the City Charter, an Ordinance adopted by the City Council of th e City on [____], 2026 (the “Ordinance”), and an Indenture of Trust, dated as of February 1, 2000, by and between the City and The Bank of New York Mellon Trust Company, N.A., as successor trustee (the “Trustee”), as supplemented and amended, including as supplemented by an Twelfth Supplement to Indenture of Trust, to be dated as of May 1, 2026, relating to the Bonds (collectively, the “Indenture of Trust”).

Bidders are referred to the Indenture of Trust and the Preliminary Official Statement for definitions of terms and further information regarding the Bonds.

Security; Limited Obligations
The Bonds are an obligation solely payable from the Electric Works Revenue Fund of the City and certain other funds as provided in the Indenture of Trust. The Bonds are secured by a pledge of and lien upon Net Income of the Electric System and will be on a parity with any other obligations (including other reve nue bonds) of the Electr ic System payable from Net Income of the Electric System issued from time to time pursuant to the terms of the Indenture of Trust.

The Bonds are being issued on a parity with any of the City’s Electric Revenue Bonds, 2024 Bonds (the “2024 Bonds”), cu rrently outstanding in the aggregate pr incipal amount of $[____], the City’s Electric Revenue Bonds, 2024 Refunding Bonds (the “2024 Refunding Bonds”), currently outstanding in the aggregate pr incipal amount of $[____], the City’s Electric Revenue Bonds, 2024 Second Series (the “2024 Second Series Bonds”), currently outstanding in the aggregate principal amount of $[___] and the City’s Electric Revenue Bonds, 2025 Series (the “2025 Bonds”), currently outstanding in the ag gregate principal amount of $[___]. The 2024 Bonds, the 2024 Refunding Bonds, the 2024 Sec ond Series Bonds and the 2025 Bonds are collectively referred to herein as the “Outstanding Bonds.” The City may issue additional bonds from time to time in accordance with the Indenture of Trust. See “SECURITY AND SOURCES OF PAYMENT FOR THE BONDS - Additional Bonds” in the Preliminary Official Statement.

The City has covenanted in the Indenture of Trust that the rates to be charged for services furnished by the Electric System shall be fixed so as to provide Gross Revenues for each Fiscal Year at least sufficient to pay, as the same become due, the principal of and interest on the Bonds (and the Outstanding Bonds and any parity bonds hereafter issued) and the Parity Obligations for such Fiscal Year and all other obligations an d indebtedness payable fr om the Electric Works 77 of 280

302015663.2
3 Revenue Fund for such Fiscal Year (including the payment of any amounts owing to any provider of any surety bond, insurance policy or letter of credit with respect to the Bonds (and the Outstanding Bonds and any parity bonds hereafte r issued) or any Parity Obligations, which amounts are payable from the Electric Works Revenue Fund) or from any fund derived therefrom, and also the Maintenance and Operating Expenses for such Fiscal Year, and shall be so fixed that the Net Income of the Electric System for each Fiscal Year shall be at least equal to 1.10 times the amount necessary to pay principal and interest (including mandatory sinking account redemption payments) as the same become due, on all Bonds (and the Outstanding Bonds and any parity bonds hereafter issued) and any Parity Obligations for such Fiscal Year. “Gross Revenues” pursuant to the Indenture of Trust means all revenues, charges, income and receipts derived by the Gle ndale Water and Power (the “Department”) from the operation of the Electric System or arising from the Electric System (including all revenues, charges, income and receipts received by the Department from th e services, facilities and distribution of electric energy by the Department), including, but not limited to (i) income from investments and (ii) only for the purposes of determining co mpliance with the rate covenant in the Indenture, the amounts on deposit in any unrestricted funds of the Elec tric System designated by the City Council by resolution (or by approval of a budget of the Electric Works Revenue Fund providing for such transfer) and available for the purpose of paying Maintenance and Operating Expenses and/or Debt Service on the Bonds and/or any Parity Obligations then outstanding, but excepting therefrom all refundable charges and deposits to secure service.

The general fund of the City is not liable for the payment of any Bond, any premium thereon upon redemption prior to maturity or inte rest thereon, nor is the credit or taxing power of the City pledged for the paymen t of any Bond, any premium thereon upon redemption prior to maturity or interest thereon. The Owner of any Bond shall not have the right to compel the exercise of the taxing power by the City or the forfeiture of any of its property. The principal of and interest on the Bonds and any premium upon the redemption of any thereof prior to maturity are not a debt of the City nor a lega l or equitable pledge, charge, lien or encumbrance upon any of its property or upon any of its income, receipts or revenues, except the Net Income and other funds that are pledged under the Indenture of Trust to the payment of the Bonds, interest thereon and any premium upon redemption.

Parity Reserve Fund
Pursuant to the Indenture of Trust, the City will maintain the Parity Reserve Fund in an amount equal to the Reserve Fund Requirement, le ss any moneys on depos it in an unrestricted fund or account of the Electric System as perm itted in the definition of “Reserve Fund Requirement.”
“Reserve Fund Requirement” is defined in the Indenture of Trus t to mean, as of any date of determination and excludi ng therefrom any Bonds, Outsta nding Bonds, any parity bonds hereafter issued or Parity Obligations for which no reserve fund is to be maintained or for which a separate reserve fund is to be ma intained, the least of (a) ten percent (10%) of the issue price of the Bonds, Outstanding Bonds, any parity bonds her eafter issued and Parity Obligations to be secured by the Parity Reserve Fund as determined under the Internal Revenue Code of 1986 (the “Code”), (b) the maximum Annual Debt Service for the current or any subsequent year on all 78 of 280

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4 Bonds, Outstanding Bonds and Parity Obligations to be secured by the Parity Reserve Fund, or (c) one hundred twenty-five percent (125%) of the Average Annual Debt Service on all Bonds, Outstanding Bonds and Parity Obligations to be secured by the Parity Reserve Fund, all as computed and determined by the City; provided, that with respect to such least amount, up to fifty percent (50%) of such least amount may be held in any unrestricted fund or account of the Electric System that is not pledged to secure the payment of the Bonds, Outstanding Bonds and any Parity Obligations; provided further, that such requirement (or any portion thereof) may be provided by the City delivering to th e Trustee for credit to the Parity Re serve Fund one or more policies of municipal bond insurance or surety bonds issued by a municipal bond insurer if the obligations insured by such insurer have ratings at the time of issuance of such policy or surety bond equal to “Aaa” assigned by Moody’s and “AAA” assigned by Standard & Poor’s (and if such insurance company is rated by A.M. Best & Company, such insurance company is rated in the highest rating category by A.M. Best & Company) or by a letter of credit issued by a bank or other institution if the obligations issued by such bank or other institution have ratings at the time of issuance of such letter of credit equal to “Aa” or higher assign ed by Moody’s or “AA” or higher assigned by Standard & Poor’s.

At the time of issuance of the Bonds, the Reserve Fund Requirement will be satisfied to the maximum extent permitted in the definition of “Reserve F und Requirement,” which will be approximately $[___]
*.

The Parity Reserve Fund is pledged to, and shall be used solely for, the purpose of paying the principal of and interest on the Bonds (and the Outstanding Bonds and parity bonds hereafter issued) and any Parity Obligations secured by the Parity Reserve Fund in the event that money in the Parity Obligation Payment Fund or any comp arable fund established for the payment of principal and interest on any Par ity Obligations secured thereby is insufficient therefor, and for that purpose money shall be tran sferred from the Parity Reserv e Fund to the Parity Obligation Payment Fund. Whenever money is transferred from the Parity Reserve Fund, an equal amount of money shall be transferred to the Parity Re serve Fund from the first available money in the Electric Works Revenue Fund (after the payment of Maintenance and Op erating Expenses and after transfers to the Parity Ob ligation Payment Fund) if required to bring the balance on deposit in the Parity Reserve Fund up to the Reserve Fund Requirement.

Municipal Bond Insurance
The City will accept bids which are based upon the issuance of a municipal bond insurance policy for some or all of the maturities of the Bonds. However, bids shall not be conditioned upon the issuance of any such policy. The City makes no representation as to whether the Bonds will qualify for municipal bond insurance. Payment of any insurance premium and satisfaction of any conditions to the issuance of a municipal bond insurance policy shall be the sole responsibility of the winning bidder. In particular , the City will neither amend nor supplement the Indenture of Trust in any way nor will it enter into any additi onal agreements with respect to the provision of any such policy. FAILURE OF THE INSURANCE PROVIDER TO ISSUE ITS POLICY SHALL

NOT CONSTITUTE CAUSE FOR A FAILURE OR REFUSAL BY THE WINNING BIDDER TO ACCEPT DELIVERY OF OR PAY FOR THE BONDS. The winning bidder must provide the

* Preliminary, subject to change.
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5 City with the municipal bond insurance commitment and information with respect to the municipal bond insurance policy and the insura nce provider for inclusion in the final Official Statement within two (2) business days fo llowing the award of the bid by th e City. The City will require a certificate from the insurance provider in the form attached hereto as A ppendix A on or prior to the date of delivery of the Bonds, as well as an opinion of counsel to the insurance provider regarding the enforceability of the municipal bond insurance policy and a tax certificate, each in form reasonably satisfactory to the City and the winning bidder.

If the successful bidder for the Bonds purchas es a bond insurance policy, the City may require such successful bidder to furnish to the City and Bond Couns el a certificate in form and substance acceptable to Bond Couns el confirming that the present value of the premium for the insurance policy is less th an the present value of the expected interest savings on the Bonds as a result of the insurance policy (for this purpose, present value is calculated using the yield on the Bonds, taking into account the insurance policy, as the discount rate).

Book-Entry Only
The Bonds will be issued as fully register ed bonds and, when issued, will be initially registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York (“DTC”). DTC will act as security depository for the Bonds. Individual purchases of the Bonds will be made in book-entry form only, in denominations of $5,000 principal amount or any integral multiple thereof. Payments of principal of, interest and premium, if any, on the Bonds will be paid by the Trustee to DTC, which is obligated in turn to remit such principal, premium, if any, and interest to its DTC Participants for subse quent disbursement to the beneficial owners of the Bonds.

Interest Payment Dates
The Bonds will be dated the Date of Delivery, and interest will be payable semiannually on each February 1 and August 1, commencing August 1, 2026. 80 of 280

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6 Principal Amortization
The Bonds shall be subject to principal amor tization through serial maturities (and, if applicable, as provided herein, term bonds) matu ring on February 1 in the following years and amounts subject to the adjustments described herein:

February 1
Principal
Amount* February 1
Principal
Amount
*
2027 $ [ ___] 2033 $ [ ___]
2028 2034
2029 2035
2030 2036
2031 2037
2032 2038

* Preliminary, subject to adjustments as descri bed herein. In addition, the City anticipates distributing an updated Maturity Schedule prior to the date scheduled for the receipt of bids, as described under “Adjustment of Principal Amounts and Amortization Schedule.” Adjustment of Principal Amounts and Amortization Schedule The principal amounts for the Bonds set forth in this Notice Inviting Bids reflect certain estimates of the City and its Municipal Advisor w ith respect to the likely interest rates of the winning bid and the net original issue premium contained in the winning bid. The principal amortization schedule (the “Maturity Schedule”) may be changed prior to the time bids are to be received and, if adjustments are made, bidders must bid on the basis of th e adjusted schedule.

Potential bidders will be notified via Ipreo not later than 1:00 p.m. (California time) on the business day preceding the date then pres cribed for the receipt of bids of any change to the Maturity Schedule for the Bonds to be utilized for the bidding process.

After selecting the winning bid, the principal amount of the Bonds and related amortization schedule may be adjusted by the C ity in $5,000 increments as nece ssary in the determination of the City’s Municipal Advisor to reflect the actual interest rates and any net original issue premium in the winning bid and to achieve the City’s debt structuring objectives. The City’s Municipal Advisor will attempt to ensure that the percen tage net compensation to the winning bidder (i.e., the percentage resulting from dividi ng (i) the aggregate difference between the offering price of the Bonds to the public and the price to be pa id by the City, less any bond insurance premium to be paid by the winning bidder, by (ii) the princi pal amount of the Bonds) does not increase or decrease from what it would have been if no adjustment was made to the principal amounts shown in the Maturity Schedule on which the bids are to be received. Any such adjustment will be communicated to the winning bidder within four hours after acceptance of the winning bid.

NO PURCHASER MAY WITHDRAW ANY BID OR CHANGE THE INTEREST

RATES IN ITS BID OR THE REOFFERING PRICES IN ITS ISSUE PRICE CERTIFICATE AS

A RESULT OF ANY CHANGE MADE TO THE PRINCIPAL PAYMENTS OF THE BONDS IN ACCORDANCE WITH THIS NOTICE I NVITING BIDS. FURTHE R, IF THE CITY

CHANGES THE MATURITY SCHEDULE FOR THE BONDS AFTER THE RECEIPT OF 81 of 280

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7 BIDS, THE UNDERWRITER’S DISCOUNT, EXPRESSED IN DOLLARS PER THOUSAND DOLLAR, WILL BE HELD CONSTANT. THE CITY WILL NOT BE RESPONSIBLE, IF AND TO THE EXTENT THAT, ANY ADJUSTMENT AFFECTS (i) THE NET COMPENSATION TO BE REALIZED BY THE PURCHASER OR (ii) THE TRUE INTEREST COST OF THE WINNING BID OR THE RANKING OF ANY BID RELATIVE TO OTHER BIDS.

Serial Bonds and/or Term Bonds; Mandatory Sinking Fund Redemption Bidders may elect to structure the issue to include term bonds, which term bonds, if selected by the winning bidder, will be subject to mandatory sinking fund redemption prior to maturity, in the years and amounts shown above (as same may be adjusted, as described above). If the Bonds are awarded to a bidder and no term bonds are designed in the winning bid, the Bonds will mature serially as shown in the preceding schedule (as same may be adjusted, as described above).

If the winning bidder designates principal amounts to be combined into one or more term bonds, each such term bond shall be subject to mandatory sinking fund redemption commencing on February 1 of the first year which has been combined to form such term bond and continuing on February 1 in each year thereafter until the stated maturity date of that term bond. The amount redeemed in any year sh all be equal to the prin cipal amount for such year set forth in the table above under “Principal Amortization,” as adjust ed in accordance with the provisions described above under “Adjustment of Pr incipal Amounts and Amortiza tion Schedule.” Bonds to be redeemed in any year by mandatory sinking fund redemption shall be redeemed in part at par and shall be selected by lot from am ong the Bonds of the applicable ma turity then subject to sinking fund redemption. The City, at its option, ma y credit against any mandatory sinking fund redemption requirement term bonds of the maturity then subject to redemption which have been purchased and cancelled by the City or have been redeemed and not theretofore applied as a credit against any mandatory sinking fund redemption requirement.

Optional Redemption
The Bonds maturing on or prior to February 1, 20[__] are no t subject to redemption prior to maturity. The Bonds maturing on or after February 1, 20[__] are subject to redemption prior to maturity, at the option of the City, as a whole or in part on February 1, 20[__] or on any date thereafter, in any order of maturity as directed in writing by the City and by lot within a maturity, from funds derived by the City from any legal source, at a redemption price equal to 100% of the principal amount of the Bonds to be redeemed, together with accr ued interest to the redemption date.

Notice of Redemption
Notice of redemption will be mailed, postage pr epaid, to (i) the registered Owners of the Bonds and (ii) one or more information services, in each case at least 30 days but not more than 60 days prior to the redemption date. Notice of redemption will also be given by telecopy, certified, registered or overnight mail to certain securities depositories one day prior to the mailing of notice of redemption to the Owners and the in formation services. Th e actual receipt by the Owner of any Bond of notice of such redempti on shall not be a condition precedent to the redemption, and failure to receive such notice sha ll not affect the validity of the proceedings for the redemption of such Bonds or the cessation of interest on the redemption date. 82 of 280

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8 Trustee
The Bank of New York Mellon Trust Company, N.A., Los Angeles, California, is the Trustee for the payment of princi pal of, premium, if any, and in terest on the Bonds and for the registration of the Bonds.

Legal Opinion
The legal opinion of Norton Rose Fulbright US LLP, Bond Counsel, will be furnished to the winning bidder at the time of delivery of the Bonds, without charge to the winning bidder.

Bidding Procedure; Confirmation of Bid
Only electronic bids submitted via Ipreo will be accepted. No other provider of electronic bidding services will be accepted. No bid delivered in person or by facsimile directly to the City will be accepted. Each electronic bid submitted via Ipreo for the purchase of the Bonds shall be deemed an offer to pur chase the Bonds in resp onse to this Notice Invi ting Bids, and shall be binding upon the bidder as if made by a signed, sealed bid delivered to the City. The successful bidder must confirm the details of such bid by a signed copy of Appendix B of this Notice Inviting Bids delivered by email to the City’s Muni cipal Advisor at [email protected] and [email protected] immediately after being notified by the City of being the winning bidder, the original of which must be received by the Director of Finance of the City, or his designee, on the following business day at the address shown on Appendix B of this Notice Inviting Bids. Failure to deliver this confirmation does not relieve the bidder of its obligation to complete the purchase of the Bonds.

Electronic Bidding
Electronic proposals must be submitted through Ipreo. If any provision of this Notice Inviting Bids conflicts with information provided by Ipreo, this Notice Inviting Bids shall control.

Each bidder will be solely responsible for ma king necessary arrangements to access Ipreo for purposes of submitting its bid in a timely manner and in compliance with the requirements of this Notice Inviting Bids. The City will not have any duty or obligation to provide or assure access to Ipreo to any bidder, and the Ci ty will not be responsible for proper operation of, or have any liability for, any delays, interruptions or da mages caused by use of Ipreo or any incomplete, inaccurate or untimely bid submitted by any bidder through Ipreo. The City is permitting use of Ipreo as a communication mechanism, and not as an agent of the City, to facilitate the submission of electronic bids for the Bonds. Ipreo is acting as an independent contractor, and is not acting for or on behalf of the City. The City is not res ponsible for ensuring or verifying bidder compliance with any procedures established by Ipreo. The City may regard the electronic transmission of a bid through Ipreo (including information regarding the purchase price for the Bonds or the interest rates for any maturity of the Bonds) as though the information were submitted and executed on the bidder’s behalf by a duly authorized signator y. The City is not bound by any advice of or determination by Ipreo to the effect that any particular bid complies with the terms of this Notice Inviting Bids. All costs and expenses incurred by prospective bidders in connection with their submission of bids through Ipreo ar e the sole responsibility of such bidders, and th e City is not responsible for any such costs or expenses. Further informati on about Ipreo, including any fee charged to the bidder, may be obtained from Ipreo at (212) 849-5021. The City assumes no 83 of 280

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9 responsibility or liability for bids submitted through Ipreo. Without limiting the foregoing, the City assumes no responsibil ity for any error contai ned in any bid submitte d electronically or for failure of any bid to be transmitted, received or opened by the time for receiving bids, and each bidder expressly assumes the risk of any inco mplete, illegible, untimely or nonconforming bid submitted by electronic transmis sion by such bidder, in cluding, without limitation, by reason of garbled transmissions, mechanical failure, engaged telecommunications lines, or any other cause arising from submission by electronic transmission. The City shall be entitled to assume that any bid submitted Ipreo has been made by a duly authorized agent of the bidder.

All-or-None Bids Only
Bidders only may bid to purchase all maturities of the Bonds. See Appendix B hereto. No bid will be considered which does not offer to purchase all of the Bonds. Each bid must specify an annual rate of interest, a reoffering price a nd a reoffering yield for e ach maturity and a dollar purchase price for the entire issue of the Bonds.

Interest Rates and Minimum Purchase Price
Bidders must specify a rate of interest for each maturity of the Bonds. The rates of interest must be expressed in multiples of one-eighth (1/8) or one-twentieth (1/20) of one percent (1%), and no interest rate can exceed six percent (6.0%) per annum. All Bonds of the same maturity must bear the same rate of interest. A zero rate of interest cannot be named. [The interest rate specified for any maturity of Bonds maturing February 1, 20 [__] and thereafter must be greater than or equal to 5.0%.] No bid th at contains a reoffering price for any single maturity of less than 100% of the par will be considered.

Bid Procedure and Basis of Award
Subject to the right reserved to the City to reject any or all bids, the Bonds will be sold to the bidder whose bid produces th e lowest True Interest Cost for the City and otherwise complies with this Notice Inviting Bids. The True Inte rest Cost for the Bonds will be determined by doubling the semi-annual interest rate, using a 360-day year, compounded semiannually, necessary to discount the semi-annual debt service payments from their respective payment dates to the dated date of the Bonds and to the aggr egate purchase price to be paid to the City. For the purpose of calculating the True Interest Co st, the principal amount of B onds established for mandatory sinking fund redemption as part of a term bond shall be treated as a serial maturity in each year.

Pursuant to the Ordinance, the maximum interes t rate on any maturity of Bonds shall not exceed six percent (6.0%) per annum.

Bid evaluations or rankings made by Parity are not binding on the City. If two or more bidders offer bids for the Bonds at the same lowest TIC, such bid first received by Ipreo prevails.

Bid Security and Delivery and Payment for Bonds
A bid security (good faith deposit) is required in the amount of $[GOOD FAITH DEPOSIT] for the Bonds. Bid security must be in the form of a wire transfer to the City as instructed by the Municipal A dvisor, no later than 24 hours af ter the City has notified the successful bidder of the award. If not so received, the bid of the lowest bidder will be rejected and 84 of 280

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10 the City may direct the second lowest bidder to submit a Good Fa ith Deposit and thereafter may award the sale of the Bonds to the same. No interest on the bid security will accrue to the winning bidder. The bid security will be applied to the purchase price of the Bonds. If the winning bidder fails to purchase the Bonds, the bid security may be retained by the City.

The balance of the purchase price for the Bonds shall be paid in Federal Funds or equivalent immediately available funds. Notwithstanding the foregoing, should a winning bidder fail to pay for the Bonds awarded to it at the price and on the date agreed upon, the City retains the right to seek further compensation for damages sustained as a result.

Delivery of the Bonds is expected to occur on the Date of Delivery. The Bonds shall be delivered to the Trustee for deposit with DTC. Pa yment on the delivery date shall be made in an amount equal to the price bid for the Bonds awarded to the applicab le bidder, less the amount of the bid security provided by such bidder.

Information Required from Winning Bidders
By making a bid for the Bonds, the winning bidder agrees (a) to prov ide to the City, in writing, immediately upon being unofficially awarded the Bonds, a written confirmation of the bid in the form set forth in Appendix B of this Notice Inviting Bids, which shall include the purchase price, reoffering yield(s), and other related information necessary for completion of the final Official Statement, (b) to disseminate to all members of the underwriting syndicate, if any, copies of the final Official Statement, (c) to promptly file a copy of th e final Official Statement with Municipal Securities Rulemaking Board, and (d) to take any and all other actions necessary to comply with applicable Securities and Exchange Commission and Municipal Securities Rulemaking Board rules governing the offering, sale and delivery of the Bonds to ultimate purchasers.

Establishment of Issue Price (Hold-the-Offering Price Rule Will Apply if Competitive Sale Requirements are Not Satisfied).
(a) The winning bidder shall assist the City in establishing the issue price of the Bonds and shall execute and deliver to the City by the closing date an issue price certificate substantially in the form set forth in Appendix C hereto setti ng forth the reasonably exp ected initial offering price to the public, together with the supporting pricing wires or equivalent communications, with such modifications as may be appropriate or necessary, in the reasonable judgment of the winning bidder, the City and Bond Counsel. All actions to be taken by the City under this Notice Inviting Bids to establish the issue price of the Bonds ma y be taken on behalf of the City by the City’s Municipal Advisor identified herein and any notice or report to be provided to the City may be provided to the City’s Municipal Advisor.
(b) The City intends that the provision s of Treasury Regulation Section 1.148- 1(f)(3)(i) (defining “competitive sale” for purposes of establishing the issue price of the Bonds) will apply to the initial sale of the Bonds (the “competitive sale requirements”) because:
(1) the City shall disseminate this Notice Inviting Bids to potential underwriters in a manner that is reasonably designed to reach potential underwriters; 85 of 280

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11 (2) all bidders shall have an equal opportunity to bid; (3) the City may receive bids from at l east three underwrite rs of municipal bonds who have established industry reputations for underwriting new issuances of municipal bonds; and
(4) the City anticipates awarding the sale of the Bonds to the applicable bidder who submits a firm offer to purchase the Bonds at the highest price (or lowest interest cost), as set forth in this Notice Inviting Bids.

Any bid submitted pursuant to this Notice Inviting Bids shall be considered a firm offer for the purchase of the Bonds, as specified in the bid.
(c) In the event that the competitive sale requirements for the Bonds are not satisfied, the City shall so advise the winni ng bidder. In such event, the City intends to treat the initial offering price to the public as of the sale date of each maturity of the Bonds as the issue price of that maturity (the “hold-the-offering-price rule ”). The City shall prom ptly advise the winning bidder, at or before the time of award of the Bonds, if the competitive sale requirements were not satisfied, in which case the hold-the-offering-price rule shall apply to the Bonds. Bids will not be subject to cancellation in the event the competitive sale requirements are not satisfied, and the hold-the-offering-price rule thus applies to any maturity of the Bonds as to which less than 10% of the maturity was sold by the winning bidder to the public at a single pr ice. Bidders should prepare their bids on the assumption that some or all maturities of the B onds will be subject to the hold-the-offering-price rule in order to establish the issue price of each maturity of the Bonds.

In the event that the competitive sale requirements are not satisfied, the issue price certificate shall be modified as necessary in the reasonable judgment of Bond Counsel and the City.

(d) By submitting a bid, the winning bidder sh all (i) confirm that the underwriters have offered or will offer the B onds to the public on or before the date of award at the offering price or prices (the “initial offering price”), or at the corresponding yield or yields, set forth in the bid submitted by the winning bidder and (ii) agree, on behalf of the underwriters participating in the purchase of the Bonds, that the underwriters will neither offer nor sell unsold Bonds of any maturity to which the hold-the-offering-price rule applies to any person at a price that is higher than the initial offering price to the public during the period starting on the sale date and ending on the earlier of the following:
(1) the close of the fifth (5th) business day after the sale date; or (2) the date on which the underwriters have sold at least 10% of that maturity of the Bonds to the public at a price that is no higher than the initial offering price to the public.

Such winning bidder will advise the City promptly after the close of the fifth (5th) business day after the sale date whether it has sold 10% of that maturity of the Bonds to the public at a price that is no higher than the initial offering price to the public. (e) The City acknowledges that, in making th e representations set forth above, the winning bidder will rely on (i) the agreement of each underwriter to comply with the requirements 86 of 280

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12 for establishing issue pri ce of the Bonds, including, but not l imited to, its agreement to comply with the hold-the-offering-price rule, if applicab le to the Bonds, as set forth in an agreement among underwriters and the related pricing wires, (ii) in the event a selling group has been created in connection with the initial sale of the Bonds to the public, the agreement of each dealer who is a member of the selling group to comply with the requirements for establishing issue price of the Bonds, including, but not limited to , its agreement to comply w ith the hold-the-offering-price rule, if applicable to the Bonds, as set forth in a selling group agreement and the related pricing wires, and (iii) in the event that an underwriter or dealer who is a member of the selling group is a party to a third-party distribut ion agreement that was employed in connection with the initial sale of the Bonds to the public, the agreement of each broker-dealer that is a party to such agreement to comply with the requirements for establishing issue price of the Bonds, including, but not limited to, its agreement to comply with the hold-the-offering-price rule, if applicable to the Bonds, as set forth in the third-party distribution agreement and the related pricing wires. The City further acknowledges that each underwriter sha ll be solely liable for its failure to comply with its agreement regarding the requirements for establishing issue price of the Bonds, including, but not limited to, its agreement to comply with the hold-the-offering price rule, if applicable to the Bonds, and that no underwriter shall be liable for the failure of any other underwriter, or of any dealer who is a member of a selling group, or of any broker-deale r that is a party to a third- party distribution agreement to comply with its corresponding agreement to comply with the requirements for establishing issue price of the Bonds, including, but not limited to, its agreement to comply with the hold-the-offering-price rule as applicable to the Bonds.

(f) By submitting a bid, each bidder confirms that:
(1) any agreement among underwriters, any selling group agreement and each third-party distribution agreement (to which the bidder is a party) relating to the initial sale of the Bonds to the public, together with the related pricing wires, contains or will contain language obligating each underwriter, each dealer who is a member of the selling group, and each broker-dealer that is a party to such third-party distribution agreement, as applicable, to comply with the hold-the-o ffering-price rule, if applicable, if and for so long as directed by the winning bidder and as set forth in the related pricing wires,

(2) any agreement among underwriters or selling group agreement relating to the initial sale of the B onds to the public, together with the related pricing wires, contains or will contain lang uage obligating each underwriter or dealer that is a party to a third-party distribution agreement to be employed in connection with the initial sale of the Bonds to the public to require each broker-dealer that is a party to such third-party distribution agreement to comply with the hold-the-offering-price rule, if applicable, if and for so long as directed by the winning bidder or the underwriter and as set forth in the related pricing wires.
(g) Sales of any Bonds to any person that is a related party to an underwriter shall not constitute sales to the public for purposes of th is Notice Inviting Bids. Fu rther, for purposes of this section of the Notice Inviting Bids:
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13 (1) “maturity” means Bonds with the same credit and payment terms; Bonds with different maturity dates, or B onds with the same maturity date but different stated interest rates, are treated as separate maturities, (2) “public” means any person other than an underwriter or a related party, (3) “underwriter” means (A) any person that agrees pursuant to a written contract with the City (or with the lead underwriter to form an underwriting syndicate) to participate in the initial sale of the Bonds to the public and (B) any person that agrees purs uant to a written contract directly or indirectly with a person described in clause (A) to participate in the initial sale of the Bonds to the public (including a member of a selling group or a party to a third-party distribution agreement partic ipating in the initial sale of the Bonds to the public),
(4) a purchaser of any of the Bonds is a “related party” to an underwriter if the underwriter and the purchaser are subject, directly or indirectly, to (A) more than 50% common ownership of the voting power or the total value of their stock, if both entities are corporations (including direct ownership by one corporation of another), (B) more than 50% co mmon ownership of their capital interests or profits interest s, if both entities are partnerships (including direct ownership by one partnership of another), or (C) more than 50% common ownership of the value of the outstanding stock of the corporation or the capital interests or profit interests of the partnership, as applicable, if one entity is a corporation and the other entity is a partnership (including direct ownership of the applicable stock or interests by one entity of the other), and
(5) “sale date” means the date that the Bonds are awarded by the City to the winning bidder.

Preliminary and Final Official Statement
The City has approved a Preliminary Official Statement, dated [POSTING DATE], 2026, which the City has “deemed final” for purposes of Rule 15c2-12 (the “Rule”) of the Securities and Exchange Commission, although subject to revision, amendment and completion in a final Official Statement in conformity with such Rule. All bidders must review th e Preliminary Official Statement (and any amendments or supplements thereto) prior to participating in the bidding.

Within seven (7) business days after the date of award of the Bonds, the winning bidder of the Bonds will be furnished with a reasonable number of copies (not to exceed 200) of the Official Statement, without charge. If the purchaser requests additional c opies of the Official Statement within two (2) days after the award of the Bonds , the City will supply such requested additional copies of the Official Statement at the expense of the purchaser. The purchaser of the Bonds may elect to receive the Official Statement in electronic form. 88 of 280

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14 Continuing Disclosure
To assist bidders in complying with the Rule, the City will undertake, pursuant to a Continuing Disclosure Agreement, to provide certain annual financial information and notices of the occurrence of certain enumerated events. A form of the Continuing Disclosure Agreement is set forth in the Preliminary Offi cial Statement and will also be set forth in the final Official Statement. See “Continuing Disclosure” in the Preliminary Official Statement.

Certificate
The City will provide to the winning bidde r of the Bonds a certificate, signed by a responsible officer, confirming that, at the time of the acceptance of its bid for the Bonds and at the time of delivery of the Bonds, the Prelimin ary Official Statement and the final Official Statement (together with any amendments or supplements), respectively, did not contain any untrue statement of a material fact or omit to stat e a material fact necessary in order to make the statements made therein, in the light of the circumstances under which they were made, not misleading (with customary exceptions for cert ain information contained in the Official Statement).

Right of Rejection
The City reserves the right, in its discretion, to reject any and all bids, including any bids not conforming to this Notice Invi ting Bids or not in the form of the Official Bid Form, and to waive any irregularity or informality in any bid.

Prompt Award
The City will award the Bonds or reject all bids not later than 24 hours after the expiration of the time herein prescribed for the receipt of proposals, unless such time of award is waived by the winning bidder.

California Debt and Investment Advisory Commission
The winning bidder will be required to pay any fees relating to the Bonds due to the California Debt and Investment Advisory Commission (“CDIAC”) under California law.

Blue Sky Laws
The winning bidder of the Bonds will be resp onsible for the payment of any fees for qualification of the Bonds for sale under the securities or “Blue S ky” laws of any state. The winning bidder may not offer to sell, or solicit any offer to buy, Bonds in any jurisdiction where it is unlawful for such winning bidder to make such offer, solicitation or sale, and the winning bidder shall comply with the Blue S ky and other securities laws and regulations of the states and jurisdictions in which the winning bidder sells the Bonds. Bidders shall not offer to sell or solicit an offer to buy, nor shall the winning bidder se ll any Bonds, in any jurisdiction where the Blue Sky or other securities laws and regulations of such jurisdiction require the payment of a fee prior to taking any such action if such fee has not been paid. 89 of 280

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15 CUSIP Numbers
It is anticipated that CUSIP numbers will be printed on the Bonds, but neither the failure to print such numbers on any Bond nor any error with respect thereto shall constitute cause for a failure or refusal by the winning bidder thereof to accept delivery of and pay for the Bonds in accordance herewith. The City’s Municipal Advisor shall apply for CUSIP numbers in a timely manner. All expenses for the assignment and pr inting of CUSIP numbers for the Bonds shall be paid by the successful bidder .

No Litigation
There is no litigation pending concerning the validity of the Bonds, the corporate existence of the City, or the title of the officers thereof to their respective offices, and the City will furnish to the winning bidder a no-litigation certificate certifying to the foregoing as of and at the time of the delivery of the Bonds.

Tax-Exempt Status
If after the date of this Noti ce Inviting Bids but prior to th e delivery of the Bonds (i) the interest received by any private holder from bonds of the same type and character as the Bonds shall be declared to be taxable (e ither at the time of such declar ation or at any future date) under any federal income tax laws, by the terms of such law or by ruling of a federal income tax authority or official which is followed by the Internal Revenue Service, or by decision of any federal court, or (ii) any federal income tax law is enacted which will have a substantial adverse tax effect on owners of the Bonds as such owners, the winning bidder may, at its option, prior to the tender of the Bonds by the City, be relieved of its obligation to purchase the Bonds awarded to it and in such case the bid security provided by such bidder will be returned.

Modification, Postponement or Cancellation of Sale
The City reserves the right to modify, postpone or cancel the sale of the Bonds at or prior to the time bids are to be rece ived with respect to the Bonds . Notice of such modification, postponement or cancellation will be given through Ipreo as soon as practic able following such modification, postponement or cancellation. If the sale is postponed, notice of a new sale date will be given through Ipreo prior to th e time that bids are to be rece ived. On any new sale date, any bidder may submit a bid for the purchase of Bonds, wh ich shall be in conformity in all respects with the provisions of this Notice Inviting Bids ex cept for the time or date and time of sale and any other changes announced through Ipreo.

Failure of any potential bidder to receive notice of modification, cancellation or postponement shall not affect the sufficiency of any such notice or affect th e City’s right to take the action described herein. If a sale is postponed only, any subsequent bid submitted by a bidder with respect to such sale will supersede any prio r bid made. If a sale is cancelled, all bids with respect to such sale will be deemed cancelled.
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16 Right of Cancellation by Winning Bidder
The winning bidder of the Bonds shall have the right, at its option, to cancel its obligation to purchase the Bonds awarded to it if the City shall fail to execute the Bonds and tender the same for delivery within 60 days from the date of award thereof, and in such event such winning bidder shall be entitled to the return of its bid security.

Additional Information
This Notice Inviting Bids, the Preliminary Offi cial Statement and the Official Bid Form may be obtained from Ipreo. Copies of the Ordi nance and the Indenture of Trust (including the Twelfth Supplement to Indenture of Trust) will be furnished to any potential bidder upon request made to the City’s Municipal Advisor, Public Financial Management, Inc., Attention: Mike Berwanger, telephone: (213) 415-1624, or to the Director of Finance, 141 North Glendale Avenue, Room 346, Glendale, California 91206-4998, telephone: (818) 548-2085.

Date: [POSTING DATE], 2026
Director of Finance,
City of Glendale, California
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APPENDIX A

FORM OF CERTIFICATE OF BOND INSURER

CITY OF GLENDALE, CALIFORNIA
Electric Revenue Bonds, 2026 Refunding Series,
maturing February 1, 20__, February 1, 20__ and February 1, 20__ _______________, 2026
The undersigned, the duly authorized and acting _____________ of ______________ (the “Bond Insurer”), hereby certifies on behalf of the Bond Insurer as follows:

1. The statements contained in the Offici al Statement dated _____, 2026 (the “Official Statement”), relating to the above-captioned bonds (the “B onds”) under the caption “BOND INSURANCE” and on the cover page thereof, insofa r as such statements constitute descriptions or summaries of the Bond Insurer or municipal bond insurance policy (the “Policy”) of the Bond Insurer covering the Bonds, accurately reflect and fairly present the information set forth therein, and do not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements therein, in the light of the circumstances under which they are made, not misleading; and

2. The form of Policy set forth in Appendix [__] of the Official Statement is a true and complete copy of the form of Policy.
[NAME OF BOND INSURER]

By: ___________________________________
Name: _________________________________
Title: __________________________________

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APPENDIX B

OFFICIAL BID FORM
[TO BE DELIVERED BY THE WINNING BIDDER]

CITY OF GLENDALE, CALIFORNIA
Electric Revenue Bonds, 2026 Refunding Series
_______________, 2026
City Council of the City
of Glendale, California
c/o Director of Finance
141 North Glendale Avenue
Room 346
Glendale, California 91206-4998
Ladies and Gentlemen:

Subject to the provisions of and in accordance with the terms of the Notice Inviting Bids, dated [POSTING DATE], 2026, of the City of Gle ndale, California (the “City”) for its above- referenced bonds (the “Bonds”), which Notice Inviting Bids is in corporated herein and hereby made a part hereof:

We hereby confirm that we have agreed to purchase all, but not less than all, of the $____________ aggregate principal amount of Bonds described in the Notice Inviting Bids and to pay therefor the amount of $____________ constituting _____% (which percent is not less than 100%) of the par amount of the Bonds.

This offer is for the Bonds bearing interest at the rates and in the form of serial bonds and, if applicable, term bonds as follows:

Balance of page intentionally left blank.

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February 1
Principal
Amount*
Interest
Rate
Reoffering
Price
Reoffering
Yield
Term Maturity
Date (Check if
applicable.)
2027 $
2028
2029
2030
2031
2032
2033
2034
2035
2036
2037
2038
_________
* Aggregate principal amount and principal amortization amounts may be adjusted by the City as set forth in the Notice Inviting Bids.

In the event the “competitive sale requirement s” set forth in the Notice Inviting Bids are not met, we agree to comply with the hold-the-offering price rule described in the Notice Inviting Bids.

We acknowledge and agree that af ter we submit this proposal , the City ma y modify the aggregate principal amount of th e Bonds and/or the principal am ount of each maturity of the Bonds, subject to the limitations set forth in the Notice Inviting Bids.

We further acknowledge and agree that in the event that any adjustments are made to the principal amount of the Bonds, we will purchase all of the Bonds, taking into account such adjustments on the above specified terms of this bid for the Bonds.

As the winning bidder, we confirm that we have agreed to wire $[GOOD FAITH DEPOSIT] to the City as provided in the Notice Inviting Bids, as security against the undersigned bidder’s failure to comply with the terms of the bid.

As the winning bidder, we confirm that we have agreed to immediately furnish the additional information described under the caption “Information Required from Winning Bidder “ in the Notice Inviting Bids. As the winning bidde r, we will (1) within 30 minutes after being notified of the verbal award of the Bonds, advise the City of the initial public offering prices of the Bonds; and (2) prior to delivery of the Bonds furnish a certificate, acceptable to Bond Counsel, Norton Rose Fulbright US LLP, as to the “issue pr ice” of the Bonds in the form specified in the Notice Inviting Bids.

As the winning bidder, we confir m that we have agreed to pr ovide to the City as soon as possible after the sale of the B onds a complete list of syndicate members, if any, the actual allocation of the Bonds and the orders placed by the syndicate members, if any. 94 of 280

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We have noted that payment of the purchase price of the Bonds is to be made in immediately available Federal Funds at the time of delivery of the Bonds.

If we have bid on behalf of a bidding syndicate, we represent that we have full and complete authority to submit the bid on behalf of our bidding syndicate and that the undersigned will serve as the lead manager for the group.

Only electronic copies of the final Official Statement for the Bonds will be provided to the winning bidder.

We further certify and declare under penalty of perjury under the laws of the State of California that our bid and this proposal are genuine and not a sham or collusive, nor made in the interest of or on behalf of any person not herein named, and that the bidder has not directly or indirectly induced or solicited any other bidder to put in a sham bid or any other person, firm or corporation to refrain from bidding, and that the bidder has not in any manner sought by collusion to secure for itself an advantage over any other bidder . Further, we did not consult with any other potential underwriter about this bid, and this bid was determined by us , independently, without regard to any other formal or informal agreement, if any, that we may have with the City (whether or not in connection with the sale and issuance of the Bonds).

Respectfully submitted,

Name of Bidder
By:

Name and Title:
(Names of other syndicate account members, if any, are listed below.)

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B-4

SYNDICATE ACCOUNT MEMBERS

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C-1

APPENDIX C
[TO BE DELIVERED BY THE WINNING BIDDER]

$_________

CITY OF GLENDALE, CALIFORNIA
ELECTRIC REVENUE BONDS, 2026 REFUNDING SERIES

ISSUE PRICE CERTIFICATE
The undersigned, on behalf of ______________ (the “ Purchaser”), hereby certifies as set forth below with respect to the sale of th e above-captioned obligations (the “ Bonds”) of the City of Glendale, California (the “City”).

1. Reasonably Expected Initial Offering Price.
(a) As of the Sale Date, the reasonably expected initial offering prices of the Bonds to the Public by the Purchaser are the prices listed in Schedule A (the “ Expected Offering Prices ”). The Expected Offering Prices are the prices for the Maturities of the Bonds used by the Purchaser in formulating its bid to purchase the Bonds. Attached as Schedule B is a true and correct copy of the bid provided by the Purchaser to purchase the Bonds.
(b) The Purchaser was not given the opportunity to review other bids prior to submitting its bid.
(c) The bid submitted by the Purchaser cons tituted a firm offer to purchase the Bonds.

2. Defined Terms.
(a) Maturity means Bonds with the same credit and pa yment terms. Bonds with different maturity dates, or Bonds with the same maturity date but different stated inter est rates, are treated as separate Maturities.
(b) Public means any person (including an individual, trust, estate, partnership, association, company, or corporation) other than an Underwriter or a related party to an Underwriter. The term “related party” for purposes of this certificate generally mean s any two or more persons who have greater than 50 percent common ownership, directly or indirectly.
(c) Sale Date means the first day on which there is a binding contract in writing for the sale of a Maturity of the Bonds. The Sale Date of the Bonds is [_____], 2026. (d) Underwriter means (i) any person that agrees pursuant to a written contract with the City (or with the lead underwriter to form an underwriting syndicate) to participate in the initial sale of the Bonds to the Public, and (ii) any person that agrees pursuant to a written contract direc tly or indirectly with a person described in clause (i) of this paragraph to pa rticipate in the initial sale of the Bonds to the Public (including a member of a selling group or a party to a retail or other third-party distribution agreement participating in the initial sale of the Bonds to the Public).

[Signature page follows]
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The representations set forth in this certificate are limited to factual matters only. Nothing in this certificate represents the Purchaser’s interpretation of any laws, including specifically Sections 103 and 148 of the Internal Revenue Code of 1986, as amended, and the Treasury Regulations thereunder. The undersigned understands that the forego ing information will be relied upon by the City with respect to certain of the representations set forth in the tax certif icate with respect to the Bonds and with respect to compliance with the federal income tax rules affec ting the Bonds, and by Norton Rose Fulbright US LLP in connection with rendering its opinion that the inte rest on the Bonds is exclud ed from gross income for federal income tax purposes, the preparation of th e Internal Revenue Servi ce Form 8038-G, and other federal income tax advice that it may give to the City from time to time relating to the Bonds.

[PURCHASER]

By: ________________________________

Name:

Title:

Dated: ____________ __, 2026

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SCHEDULE A

EXPECTED OFFERING PRICES
(Attached)

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SCHEDULE B
COPY OF UNDERWRITER’S BID
(Attached)

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Norton Rose Fulbright US LLP draft 2/21/26
301998187.2 (Glendale: E.S. Twelfth Supp.)

TWELFTH SUPPLEMENT TO
INDENT

URE OF TRUST
by and between

CITY OF GLENDALE, CALIFORNIA
and
THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A.,
as Trustee

RELATING TO CITY OF GLENDALE, CALIFORNIA
ELECTRIC REVENUE BONDS, 2026 REFUNDING SERIES
________________________________
Dated as of May 1, 2026
________________________________
(Supplemental to the Indenture of Trust dated as of February 1, 2000)

EXHIBIT C
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301998187.2 (Glendale: E.S. Twelfth Supp.) i

ARTICLE XIV
2026 REFUNDING BONDS
Section 24.1 Definition ....................................................................................................... .. 2 Section 24.2 Authorization ................................................................................................... 2 Section 24.3 Terms of 2026 Refunding Bonds ..................................................................... 3 Section 24.4 Form of 2026 Refunding Bonds and Certificate of Authentication ................. 4 Section 24.5 Disposition of Proceeds ................................................................................... 4 Section 24.6 Optional Redemp tion of 2026 Refunding Bonds............................................. 5 Section 24.7 Additional Tax Covenants Relating to the 2026 Refunding Bonds ................. 6

ARTICLE XV

MISCELLANEOUS
Section 25.1 Terms of 2026 Refunding Bonds Subject to the Indenture of Trust ................ 9 Section 25.2 Governing Law .............................................................................................. 10 Section 25.3 Execution in Counterparts .............................................................................. 10

EXHIBIT A – FORM OF 2026 REFUNDING BOND

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301998187.2 (Glendale: E.S. Twelfth Supp.) 1
Twelfth Supplement to Indenture of Trust
(Supplemental to the Indenture of Trust
dated as of February 1, 2000)
Authorizing the Issuance of
$[PAR AMOUNT] Aggregate Principal Amount of
City of Glendale, California
Electric Revenue Bonds,
2026 Refunding Series
___________________________________

This TWELFTH SUPPLEMENT TO INDENTUR E OF TRUST, dated as of May 1, 2026 (this “Twelfth Supplement”), by and be tween the CITY OF G LENDALE, CALIFORNIA, a municipal corporation and charter city duly organized and existing under the Constitution and laws of the State of Cali fornia (the “City”), and THE BANK OF NEW YORK MELLON TRUST COMPANY, N.A., formerly known as The Bank of New York Trust Company, N.A., a national banking association duly organized and validly existing under the laws of the United States of America, as Trustee (the “Trustee”),
W I T N E S S E T H :

WHEREAS, this Twelfth Supplement is supplemen tal to the Indenture of Trust, dated as of February 1, 2000 (as supplemen ted and amended, the “Indenture of Trust”), by and between the City and the Trustee, providing for the issuance of City of Glendale, California Electric Revenue Bonds (the “Bonds”); and
WHEREAS, the Indenture of Tr ust provides that the City may issue Bonds from time to time as authorized by a supplemental indenture of trust; and WHEREAS, Article XXVI of the City’s Charte r authorizes the City to issue revenue bonds for the purpose of refunding Bonds; and
WHEREAS, pursuant to Article XXVI of the Charter and Ordinance No. [Ord. Number] of the City, adopted on [Ord. A doption Date], the City proposes to issue its Electric Revenue Bonds, 2026 Refunding Series (the “2026 Refunding Bonds”) pursuant to the Indenture of Trust, including as supplemented by this Twelfth Supplement, to provide , among other things, moneys for the refunding of the Refunded Bonds (as hereinafter defined); and WHEREAS, the 2026 Refunding Bonds do not to c onstitute an indebt edness of the City but do constitute obligations which shall be paya ble as to both principal and interest, and any premium upon the redemption of any 2026 Refundi ng Bonds prior to matu rity, only from the Electric Works Revenue Fund of the City and certai n other funds as provided in the Indenture of Trust; and
WHEREAS, the City Council of the City has de termined that it is necessary and required that the City enter into this Tw elfth Supplement in order to esta blish and declare, in conjunction with the Indenture of Trust, the terms a nd conditions upon which the 2026 Refunding Bonds shall be issued; and
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301998187.2 (Glendale: E.S. Twelfth Supp.) 2
WHEREAS, the City Council has determined th at all acts, conditions and things required by law to exist, to have happened and to have been performed precedent to and in connection with the execution and the entering into of this Twelfth Supplement do exist, have happened and have been performed in regular and due time, form and manner as required by law, and the parties hereto are now duly authorized to execute and enter into this Twelfth Supplement; NOW, THEREFORE, the parties hereto agree, as follows:

ARTICLE XXIV

2026 REFUNDING BONDS
Section 24.1 Definition. The terms defi ned in this Section sha ll, for all purposes of this Twelfth Supplement and of any certificate, opinion or othe r document here in mentioned, have the meanings herein specified, to be equally applicable to both the singular and plural forms of any of the terms herein defined. Terms de fined in the Indenture of Trust not otherwise defined in this Twelfth Supplement shall have the meanings specified in the Indenture of Trust. “Escrow Agreement” means the Escrow Agreement, dated [Closing Date], 2026, by and between the City and The Bank of New York Me llon Trust Company, N.A., as escrow agent, relating to the Refunded Bonds.
“Interest Payment Date” mean s, with respect to the 2026 Refunding Bonds, February 1 and August 1 of each year, commencing August 1, 2026.
“Ordinance” means Ordinance No. [Ord. Number] of the City, adopted on [Ord.

Adoption Date], authorizing the issuance of the 2026 Refunding Bonds, and providing certain terms and conditions for the issuance of the 2026 Refunding Bonds. “Record Date” means the close of business on th e fifteenth day of the month (whether or not a business day) immediately preceding an Interest Payment Date. “Refunded Bonds” means all of the outstanding City of Glendale, California Electric Revenue Bonds, 2016 Refunding Series.
“2026 Refunding Bond” or “2026 Refunding Bonds” means any or all, as the case may be, of the City of Glendale, California El ectric Revenue Bonds, 20 26 Refunding Series, as described in Section 24.2 hereof.

Section 24.2 Authorization.
(a) An additional Series of Bonds to be issu ed under the Indenture of Trust is hereby created. Such Series shall be known as the “C ity of Glendale, California Electric Revenue Bonds, 2026 Refunding Series” (the “2026 Refunding Bonds”). The 2026 Refunding Bonds shall be issued in the aggregate initial principal amount of $[PAR AMOUNT] in accordance with the City Charter, the Ordinance and the Indenture of Trust (including this Twelfth Supplement) for the purpose of providing moneys for (i) the refunding of the Re funded Bonds and (ii) paying the costs of issuance of the 2026 Refunding Bonds.
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301998187.2 (Glendale: E.S. Twelfth Supp.) 3
(b) The 2026 Refunding Bonds shall be issued in fully registered form and shall be initially registered in the name of “Cede & C o.,” as nominee of The Depository Trust Company, New York, New York. The 2026 Refunding Bonds shall be ev idenced by one 2026 Refunding Bond maturing on each of the maturity dates as set forth in Section 24.3 in an amount corresponding to the total principal amount of th e 2026 Refunding Bonds of ea ch such maturity.

The Trustee may assign a distinctive number or letter and number, and a record of the same shall be maintained by the Trustee for each 2026 Refunding Bond. Regi stered ownership of the 2026 Refunding Bonds, or any portion ther eof, may not thereafter be tran sferred except as set forth in the Indenture of Trust.

Section 24.3 Terms of 2026 Refunding Bonds. The 2026 Refunding Bonds shall be issued in denominations of $5,000 pr incipal amount or any integral multiple ther eof. The 2026 Refunding Bonds shall be dated th eir date of delivery, and shall mature on February 1 in the years and in the principal amounts and shall bear interest at the rates set forth below:

Maturity Date
(February 1)
Principal
Amount
Interest
Rate

$ %

The 2026 Refunding Bonds shall be Current Interest Indebtedness. Each 2026 Refunding Bond shall bear interest until the principal sum thereof has b een paid; provided, however, that if, at the maturity da te of any 2026 Refunding Bond, or if the same is redeem able prior to maturity and has been duly called for re demption, funds are available fo r the payment or redemption thereof in accordance with the terms of this Twelfth Supplement, the 2026 Refunding Bond shall then cease to bear interest. The principal of and premium, if any, on the 2026 Refunding Bonds shall be payable in lawful money of the United States of Amer ica by the Trustee upon presentation and surrender thereof.
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301998187.2 (Glendale: E.S. Twelfth Supp.) 4
Interest with respect to any 2026 Refunding Bond shall be payabl e from the Interest Payment Date next preceding the date of authentication thereof unless such date of authentication is during the pe riod from a Record Date to and including the next succeeding Interest Payment Date, in which case interest w ith respect thereto sha ll be payable from such Interest Payment Date, or unless su ch date of authentication is prior to the Record Date for the first Interest Payment Date, in which case interest with respect thereto shall be payable from the date of delivery of such 2026 Refunding Bond; provided, however, that if at the time of authentication of any 2026 Refunding Bond, interest w ith respect thereto is in default, interest with respect thereto shall be payable from the Interest Payment Date to which interest has previously been paid. Payment of interest with respect to any 2026 Refunding Bond shall be made to the person appearing on the Bond Register as the Owner th ereof as of the Record Date, such interest to be paid by check or draft of th e Trustee, payable in la wful money of the United States of America and mailed on the Interest Pa yment Date to such Owner at his or her address as it appears on the Bond Register; provided, that in the case of an Owner of $1,000,000 or more in aggregate principal amount of 2026 Ref unding Bonds, upon written request of such Owner delivered to the Trustee not less than 20 days prior to any Interest Payment Date, such interest shall be paid in immediately av ailable funds by wire transfer to an account specified by the Owner in such written request on the following Interest Payment Date.

So long as the 2026 Refunding Bonds are maintained in book-entry form, payments of principal, premium, if any, and interest shall be made by the Trustee to the Securities Depository by wire transfer. The Trustee shall provide CUSI P number identification, with appropriate dollar amounts for each CUSIP number, on all redemption payments and interest payments, whether by check or by wire transfer.

Section 24.4 Form of 2026 Refunding Bonds and Ce rtificate of Authentication. The 2026 Refunding Bonds and the certific ate of authentication shall be substantially in the form set forth in Exhibit A hereto with necessary or appr opriate variations, omissi ons and insertions, as permitted or required by this Twelfth Supplement.

Section 24.5 Disposition of Proceeds. The proceeds of the sale of the 2026 Refunding Bonds in the amount of $[_______] (computed as $[PAR AMOUNT].00 aggregate principal amount of the 2026 Refunding Bonds, plus $[_______] original issue premium, less $[_______] underwriter’s discount) shall be applied as follows:
(a) The Trustee shall, immediately upon rece iving the proceeds of the sale of the 2026 Refunding Bonds, transfer to The Bank of New York Mellon Trust Company, N.A., as escrow agent under the Escrow Agreement, $[_______] to be applied towards the refunding of the Refunded Bonds pursuant to the Escrow Agreement.
(b) There is hereby established a separate fund designated as the “2026 Refunding Series Costs of Issuance Fund,” which the Trus tee shall maintain. Th e Trustee, immediately upon receiving proceeds of the sale of the 20 26 Refunding Bonds, shall deposit from such proceeds in the 2026 Refunding Series Costs of Issuance Fund the amount of $[_______] to pay Costs of Issuance. The moneys deposited in th e 2026 Refunding Series Co sts of Issuance Fund shall be expended from time to time to pay Costs of Issuance . Upon receipt of any requisition signed by an Authorized City Representative for payment or reimbursement of Costs of Issuance 106 of 280

301998187.2 (Glendale: E.S. Twelfth Supp.) 5
of the 2026 Refunding Bonds, the Trustee shall pa y such requisitioned amounts out of the 2026 Refunding Series Costs of Issuance Fund. If an y amount shall remain in the 2026 Refunding Series Costs of Issuance Fund when all Costs of Issuance have been paid (but in any event not later than six months following the date of issuance and de livery of the 2026 Refunding Bonds), such amount shall be transferred at the directi on of the Director of Finance to the Parity Obligation Payment Fund. Amounts in the 2026 Ref unding Series Costs of Issuance Fund may be temporarily invested in Inve stment Securities as th e City may direct th e Trustee in writing, and such proceeds and the interest thereon shall be applied exclusively to the objects and purposes set forth in this Twelfth Supplement. Any such amounts transf erred to the Parity Obligation Payment Fund may be temporarily invested by the City in Investment Securities after consultation with Bond Counsel regarding yield restriction limitations w ith respect to such investment.

The Trustee may establish a temporary fund or account in its record s to facilitate and record such deposits and transfers.

Section 24.6 Redemption of 2026 Refunding Bonds.
(a) Optional Redemption . The 2026 Refunding Bonds maturing on or prior to February 1, 2034 are not subject to redemption prior to maturity. The 2026 Refunding Bonds maturing on and after February 1, 20[__] are subj ect to redemption prior to maturity, at the option of the City, as a whole or in part, on February 1, 20[__], or on any date thereafter, in any order of maturity as directed in writing by th e City and by lot within a maturity, from funds derived by the City from any le gal source, at a redemption price equal to 100% of the principal amount of the 2026 Refunding Bonds to be redeemed, together w ith accrued inte rest to the redemption date.
(b) Mandatory Redemption. The 2026 Refunding Bonds maturing on February 1, 20[__] shall be subject to mandatory sinking account redemption prior to ma turity, in part, at a redemption price of one hundred pe rcent (100%) of the principal amount thereof plus interest accrued to the redemption date, from mandatory sinki ng account payments set aside in the Parity Obligation Payment Fund for such purpose, in th e following principal amounts and on the dates set forth below:

Date
(February 1)
Principal
Amount
$[ __]
†
_____________________
† Final maturity.
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301998187.2 (Glendale: E.S. Twelfth Supp.) 6
The 2026 Refunding Bonds maturing on February 1, 20[__] shall be subject to mandatory sinking account redemption prior to maturity, in part, at a redemption price of one hundred percent (100%) of the principal amount thereof plus in terest accrued to the redemption date, from mandatory sinking account pa yments set aside in the Par ity Obligation Payment Fund for such purpose, in the following principal amounts and on the dates set forth below:

Date
(February 1)
Principal
Amount
$
†
_____________________
† Final maturity.
(c) Credits Toward Mandatory Sinking Account Payments. Upon any purchase or redemption of the 2026 Refunding Bonds designated to be Term Bonds, an amount equal to the aggregate principal amount of 2026 Refunding B onds so purchased or redeemed shall be credited towards a part or all of any one or mo re yearly mandatory sinking account payments of that maturity required by subsection (b) above, as directed in writing by a Certificate of the Director of Finance. The City shall provide the Trustee with a revised sinking account payment schedule. The portion of any such mandatory sink ing account payments of that maturity remaining after the deduction of any such amounts credited toward the same (or the original amount of any such mandatory sinking account pa yments if no such amounts shall have been credited toward the same) shall constitute the unsatisfied balance of such mandatory sinking account payments for the purpose of the calculati on of principal payments due on any future principal payment date.

Section 24.7 Additional Tax Covenants Relating to the 2026 Refunding Bonds. (a) Special Definitions. When used in this Section, the following terms have the following meanings:
“Code” means the Internal Revenue Code of 1986.
“Computation Date” has the meaning set forth in section 1.148-1(b) of the Tax Regulations.
“Gross Proceeds” means any Proceeds and any replacement proceeds as defined in section 1.148-1(c) of the Tax Regulations, of the 2026 Refunding Bonds. “Investment” has the meaning set forth in section 1.148-1(b) of the Tax Regulations. “Nonpurpose Investment” means any investment property, as defined in section 148(b) of the Code, in which Gross Proceeds of the 20 26 Refunding Bonds are inve sted and that is not acquired to carry out the governmental purposes of the 2026 Refunding Bonds. “Prior Issue” means the City of Glendale, Ca lifornia Electric Revenue Bonds, 2016 Refunding Series.
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301998187.2 (Glendale: E.S. Twelfth Supp.) 7
“Proceeds,” with respect to an issue of governme ntal obligations, has the meaning set forth in section 1.148-1(b) of the Tax Regulations (referring to sa le, investment and transferred proceeds).
“Rebate Amount” has the meaning set forth in section 1.148-1(b) of the Tax Regulations. “Tax Regulations” means the United States Treasury Regulations promulgated pursuant to sections 103 and 141 through 150 of the Code.
“Yield” of any Investment has th e meaning set forth in se ction 1.148-5 of the Tax Regulations, and of any issue of governmental obligations has the meaning set forth in section

1.148-4 of the Tax Regulations.

For purposes of this Section 24.7, the City ha s treated and will treat Proceeds of the 2026 Refunding Bonds used to refund the Prior Issue as being used for the same purposes (ratably in accordance with the amount of Proceeds of the 2026 Refunding Bonds and of the Prior Issue so used) as were the Proceeds of the Prior Issue.
(b) Not to Cause Interest to Become Taxable. The City covenants that it shall not use, and shall not permit the use of, and shall not omit to use Gross Proceeds or any other amounts (or any property the acquisition, construction or improvement of which is to be financed directly or indirectly with Gr oss Proceeds) in a manner that if made or omitted, respectively, could cause the interest on any 2026 Refunding Bond to fail to be excluded pursuant to section 103(a) of the Code from the gross income of the owner thereof for federal income tax purposes.

Without limiting the generality of the foregoing, unless and until the Trustee receives an Opinion of Bond Counsel to the effect that failure to comply with such c ovenant will not adversely affect such exclusion of the interest on any 2026 Ref unding Bond from the gross income of the owner thereof for federal income tax purposes, the C ity shall comply with each of the specific covenants in this Section.
(c) Private Use and Private Payments. Except as would not cause any 2026 Refunding Bond to become a “pri vate activity bond” within the meaning of section 141 of the Code and the Tax Regulations, the City shall take al l actions necessary to assure that the City at all times prior to the final cancellation of the last of the 2026 Refunding Bonds to be retired:
(1) exclusively owns, operates, possesses and provides any services necessary to allow and maintain each function of every property the acquisition, construction or improvement of which is to be financed or refina nced directly or indirectly with Gross Proceeds of the 2026 Refunding Bonds and does not use or permit the use of such Gross Proceeds (including through any contractual a rrangement with terms different than those applicable to the general public) or any property acq uired, constructed or improved with such Gross Proceeds of the Prior Issue in any activity carried on by any person or entity (including the United States or any agency, department or instrumentality thereo f) other than a state or local government (a “nongovernmental person”), unless such use is solely as a member of the general public; and (2) does not directly or indirectly im pose or accept any charge or other payment by or for the benefit of any person or entity (other than a state or local government) who is treated as using any Gross Proceeds of the 2026 Refunding Bonds or of the Prior Issue or any 109 of 280

301998187.2 (Glendale: E.S. Twelfth Supp.) 8
property the acquisition, constructio n or improvement of which is to be financed or refinanced directly or indirectly with such Gross Proceeds.
(d) No Private Loan. Except as woul d not cause any 2026 Refunding Bond to become a “private activity bond” within the meaning of secti on 141 of the Code and the Tax Regulations and rulings thereunder, the City shal l not use or permit the use of Gross Proceeds of the 2026 Refunding Bonds to make or finance lo ans to any nongovernmental person. Without limitation of the foregoing, in no ev ent will: (i) property acquired, constructed or improved with such Gross Proceeds be sold or leased to any nongovernmental person in a transaction that would be treated as creating a debt for federal income tax purposes; or (ii) capacity in or service from such property be committed to such person under a take-or-pay, output or similar contract or arrangement or indirect benefits of such Gross Proceeds, or burdens and benefits of ownership of such property otherwise be transferred in a transaction that is th e economic equivalent of a loan.

For purposes of this covenant, th e City will treat any transactio n constituting a loan of Gross Proceeds of the Prior Issue as resulting in a loan of Gross Proceeds of the 2026 Refunding Bonds.
(e) Not to Invest at Higher Yield. Excep t as would not cause the 2026 Refunding Bonds to become “arbitrage bonds ” within the meaning of secti on 148 of the Code and the Tax Regulations and rulings thereunder, the City shall not (and shall not permit any person to), at any time prior to the final cancellati on of the last 2026 Refunding Bond to be retired, directly or indirectly invest Gross Proceeds in any Investment, if as a result of such investment the Yield of any Investment acquired with Gross Proceeds, wh ether then held or previously disposed of, would materially exceed the Yield of the 2026 Refunding B onds within the meaning of such section 148.
(f) Not Federally Guaranteed. Except to the extent permitted by section 149(b) of the Code and the Tax Regulations and rulings thereunder, the City shall not take or omit to take (and shall not permit any person to take or omit to take) any action that would cause any 2026 Refunding Bond to be “federally guaranteed” with in the meaning of sect ion 149(b) of the Code and the Tax Regulations and rulings thereunder.
(g) Information Report. The City shall fi le, or provide for the filing of, any information required by section 149(e) of the Code with resp ect to 2026 Refunding Bonds with the Secretary of the Treasury on Form 8038-G or such other fo rm and in such place as the Secretary may prescribe.
(h) Rebate of Arbitrage Profits. Except to the extent otherwise provided in section 148(f) of the Code and the Tax Regulations:
(1) The City shall account for all Gro ss Proceeds (including all receipts, expenditures and investments thereof) on its books of account separately and apart from all other funds (and receipts, expenditures and investme nts thereof) and shall retain all records of accounting for at least six y ears after the day on which th e last 2026 Refunding Bond is discharged. However, to the extent permitted by law, the City may commingle Gross Proceeds of 2026 Refunding Bonds with its ot her moneys, provided that it se parately accounts for each receipt and expenditure of Gross Proceeds and the obligations acquired therewith. 110 of 280

301998187.2 (Glendale: E.S. Twelfth Supp.) 9
(2) Not less frequently than within 30 days of each Computation Date, the City shall calculate the Rebate Amount as of such Computation Date in accordance with rules set forth in section 148(f) of the Code and the Tax Re gulations and rulings thereunder. The Trustee may rely conclusively upon the C ity’s determinations, calculations and certifications required by this Section. The Trustee shall have no respons ibility to make any independent calculations or determinations or to review the City’s calculations under this Section. The City shall maintain a copy of the calculation with its official transcript of proceedi ngs relating to the issuance of the 2026 Refunding Bonds until six years after the final Computation Date. (3) To assure the excludability pursuant to section 103( a) of the Code of the interest on the 2026 Refunding Bonds from the gross income of the owners thereof for federal income tax purposes, within 60 days of each Comput ation Date the City sh all pay to the United States the amount that when added to the future value of previous rebate payments made for the 2026 Refunding Bonds equals (i) in the case of the Final Computation Date as defined in section

1.148-3(e)(2) of the Tax Regulatio ns, one hundred percent (100%) of the Rebate Amount on such date and (ii) in the case of any other Comp utation Date, ninety percent (90%) of the Rebate Amount on such date. In all cases, such rebate pa yments shall be made by the City at the times and in the amounts as are or may be require d by section 148(f) of the Code and the Tax Regulations and rulings thereunder, and shall be accompanied by Form 8038-T or such other forms and information as is or may be required by section 148( f) of the Code and the Tax Regulations and rulings thereunder for execution and filing by the City. (i) Not to Divert Arbitrage Profits. Except to the extent perm itted by section 148 of the Code and the Tax Regulations and rulings ther eunder, the City shall not (and shall not permit any person to), at any time prior to the final cancellation of the last of the 2026 Refunding Bonds to be retired, enter into any transaction that re duces the amount required to be paid to the United States pursuant to paragraph (h) of this Sectio n because such transacti on results in a smaller profit or a larger loss than w ould have resulted if the transac tion had been at arm’s length and had the Yield on the 2026 Refunding Bonds not been relevant to either party. (j) 2026 Refunding Bonds Not Hedge Bonds.
(i) The City represents that neither the Prior Issue nor the 2026 Refunding Bonds is or will become a “hedge bond” within the meaning of section 149(g) of the Code.
(ii) Without limitation of the foregoing, with respect to the Prior Issue, (i) on the date of issuance of the Prior Issue the City reasonably expected (based upon its own knowledge and upon representations made by other governmental persons upon the issuance of those obligations) that within the three-year period commencing on such date no less than 85% of the spendable proceeds of the Prior Issue would be expended for the governmental purposes thereof and (ii) the City believ es and represents that at no time has more than 50% of the proceeds of th e Prior Issue been invested in Nonpurpose Investments having a substantially guaranteed yield for a period of four years or more. (k) Elections. The City hereby directs a nd authorizes any Authorized City Representative to make such el ections, permitted or required pursuant to th e provisions of the 111 of 280

301998187.2 (Glendale: E.S. Twelfth Supp.) 10
Code or the Tax Regulations, as such Representative (after c onsultation with Bond Counsel to the City) deems necessary or appropriate in connection with the 2026 Refunding Bonds, in the Tax Certificate (as defined in paragraph (l) below) or similar or other a ppropriate certificate, form or document.
(l) Closing Certificate. The City agrees to execute and deliver in connection with the issuance of the 2026 Refunding Bonds a Tax Ce rtificate or simila r document containing additional representations and co venants pertaining to the excl usion of intere st on the 2026 Refunding Bonds from the gross income of the ow ners thereof for federal income tax purposes (the “Tax Certificate”), which representations and covenants are hereby incorporated herein as though expressly set forth herein.

ARTICLE XXV

MISCELLANEOUS
Section 25.1 Terms of 2026 Refunding Bonds Subject to the Indenture of Trust.

Except as in this Twelfth Suppl ement expressly provided, every te rm and condition contained in the Indenture of Trust shall apply to this Twelfth Supplement and to the 2026 Refunding Bonds with the same force and effect as if the same were herein set forth at length, with such omissions, variations and modifications ther eof as may be appropriate to make the same conform to this Twelfth Supplement.

This Twelfth Supplement and all the terms an d provisions herein contained shall form part of the Indenture of Trust as fully and with the same effect as if all such terms and provisions had been set forth in the Indent ure of Trust. The Indenture of Trust is hereby ratified and confirmed and shall continue in full force and ef fect in accordance with the terms and provisions thereof, as supplemented and amended hereby.

Section 25.2 Governing Law. This Twelfth S upplement shall be construed and governed in accordance with the laws of the State of California.

Section 25.3 Execution in Counterparts. This Twelfth Supplement may be executed in several counterparts, each of which shall be deemed an original, and all of which shall constitute but one and the same instrument.
[Remainder of page intentionally left blank.]

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138279652 (Glendale: E.S. Twelfth Supp.) 11
IN WITNESS WHEREOF, the parties hereto have executed this Twelfth Supplement by their officers thereunto duly authorized as of the day and year first written above.

CITY OF GLENDALE, CALIFORNIA

By:__________________________________
Shijie Jack Liang
Director of Finance
ATTEST:

By:__________________________________
Cit
y Clerk

THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A., as Trustee

By:__________________________________
Authorized Office
r
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301998187.2 (Glendale: E.S. Twelfth Supp.) A-1

EXHIBIT A
[Form of 2026 Refunding Bond]
Bond No. R-____ $

UNITED STATES OF AMERICA

STATE OF CALIFORNIA

CITY OF GLENDALE

ELECTRIC REVENUE BOND, 2026 REFUNDING SERIES

INTEREST
RATE

MATURITY
DATE
DATED
DATE
CUSIP
NO.

% Februar y 1, 20__ _____, 2026 _______

REGISTERED OWNER: CEDE & CO. (TAX I.D. #13-2555119)
PRINCIPAL AMOUNT: DOLLARS
The City of Glendale, a muni cipal corporation situated in the County of Los Angeles, State of California (the “City”), FOR VALU E RECEIVED, hereby pro mises to pay, only from the Electric Works Revenue Fund a nd such other funds as hereinafte r provided, to the registered owner named above, or registered assigns, on the ma turity date set forth above (subject to any right of prior redemption hereaf ter mentioned), the principal am ount set forth above, and to pay interest on such principal amount, semiannua lly on February 1 and August 1 of each year, commencing August 1, 2026 (each such date shall be referred to he rein as an “Interest Payment Date”) at the interest rate se t forth above. Interest with respect to this 2026 Refunding Bond (as defined below) shall be payable from the Interest Payment Date next preceding the date of authentication hereof unless such date of authen tication is during the peri od from a Record Date (as hereinafter defined) to and including the next succeeding Interest Payment Date, in which case interest with respect hereto shall be payable from such Interest Payment Date, or unless such date of authentication is prior to the Reco rd Date for the first Interest Payment Date, in which case interest with respect hereto shall be payabl e from the date of de livery of this Bond; provided, however, that if at the time of au thentication of this 2026 Refunding Bond, interest with respect hereto is in default, interest with respect hereto shall be payable from the Interest Payment Date to which interest has previously been paid. Interest on this 2026 Refunding Bond is payable by check or draft of The Bank of New York Mell on Trust Company, N.A. in Los Angeles, California, or its successors and as signs, as Trustee for the 2026 Refunding Bonds, mailed on the Interest Payment Date to the registered Owner hereof as of the close of business on the fifteenth day (whether or not a Business Day) of the month immediately preceding an Interest Payment Date (the “Record Date”) at such Owner’s address as it appears on the registration books maintained by the Trustee; provided, that in th e case of an Owner of $1,000,000 or more in aggregate principal amount of 2026 Ref unding Bonds, upon written request of such Owner 114 of 280

301998187.2 (Glendale: E.S. Twelfth Supp.) A-2
delivered to the Trustee not less than 20 days prior to any Interest Payment Date, such interest shall be paid in immediately av ailable funds by wire transfer to an account specified by the Owner in such written request on the following In terest Payment Date. Both principal and any premium upon any redemption of a ll or any part hereof are payable in lawful money of the United States of America upon presentation and surrender hereof at the Corporate Trust Office of the Trustee in Los Angeles, California, or such other place as designated by the Trustee.

This is one of a duly authorized issue of bonds of the City designated “Electric Revenue Bonds, 2026 Refunding Series,” referred to herein as the “2026 Refunding Bonds,” all of which have been issued pursuant to Article XXVI of the Charter (as hereinafter defined) for the purpose of providing moneys for (i) the refunding of all of the outstandi ng City of Glendale, California Electric Revenue Bonds, 2016 Refunding Series, and (ii) paying the costs of issuance of the 2026 Refunding Bonds. The creation of the 2026 Ref unding Bonds and the terms and conditions of the 2026 Refunding Bonds are provided for by the Ordinance of the City authorizing the 2026 Refunding Bonds and designated Ordinance No. [O rd. Number] adopted by the City Council of the City on [Ord. Adoption Date], and by an Indenture of Trust, dated as of February 1, 2000, by and between the City and the Trustee, as s upplemented and amended, including by the Twelfth Supplement to Indenture of Trus t, dated as of May 1, 2026, by and between the City and the Trustee (collectively, the “Indenture of Trust”), and by acceptance hereof the Owner of this 2026 Refunding Bond assents to such terms and conditi ons. Such Ordinance was adopted under, the Indenture of Trust is entered into under, and this 2026 Refunding Bond is issued under, and each is to be construed in accordance with, the Charte r of the City (the “Cha rter”) and the laws and Constitution of the State of California. Capitalized terms used herein and not otherwise defined shall have the meanings ascribed thereto in the Indenture of Trust.

This 2026 Refunding Bond does not constitute an indebtedness of the City but is an obligation payable, as to both principal a nd interest, and any pr emium upon the redemption hereof prior to maturity, only from the Electric Works Revenue Fund (and certain other funds as provided in the Indenture of Tr ust), but this shall not preclude the payment hereof from the proceeds of any bonds issued to refund the 2026 Refunding Bonds or preclude the use of any sum received as premium or accrued interest on the sale of the 2026 Refunding Bonds to pay principal and interest hereof. The Electric Works Revenue Fund is established in and by the Charter, and under the provisions of the Charter all Gross Revenues of the Electric System of the City are required to be deposit ed in the Electric Works Reve nue Fund and used only for the purposes set forth in the Charter, including th e payment of the 2026 Refunding Bonds; provided, however, that at the end of each Fiscal Year , amounts in the Electric Works Revenue Fund not required to meet any obligation und er the Indenture of Trust shall be transferred to the City free and clear of the Indenture of Trust.

All Net Income in the Electric Works Revenue Fund is pledged to secure the payment of the principal of and redemption premium, if any, and interest on the 2026 Refunding Bonds, any other bonds heretofore or here after issued on a parity with the 2026 Refunding Bonds and any Parity Obligations in accordance with their terms, subject only to the provisions of the Indenture of Trust permitting the application thereof for the purposes and on the terms and conditions set forth therein. Such pledge shall constitute a fi rst lien on the Net Income and shall be valid and binding from and after delivery by the City of the 2026 Refundi ng Bonds, such other parity bonds or Parity Obligations, without any physical de livery thereof or further act. Nothing in the 115 of 280

301998187.2 (Glendale: E.S. Twelfth Supp.) A-3
Indenture of Trust restricts th e issuance of more additional bonds under Article XXVI of the Charter, subject to the limitations set forth in Article V of the Indenture of Trus t, payable from the Electric Works Revenue Fund and ranking on a parity with or subordinate to the 2026 Refunding Bonds.

The Charter and the covenants in the Indent ure of Trust impose upon the officers of the City certain obligations to the Owners of the 2026 Refunding Bonds, such covenants, among other things, restricting transfer s out of the Electric Works Re venue Fund, prohibiting issuance of revenue bonds having any prio rity with respect to payment from the Electric Works Revenue Fund, placing limitations upon the issuance of additional bonds payable from such Fund and imposing conditions with respect to any sale or lease of the Electric System. In the manner provided in the Indenture of Trust, any or all of the covenants in the Indenture of Trust and any other provision thereof or any provision of any resolution or or der authorizing or providing for the issuance of the 2026 Refunding Bonds may be waived or modified at any time in the manner, to the extent, and upon the terms pr ovided in the Indenture of Trus t, which provid e, in certain circumstances, for modifications and amendments without the consent of or notice to the registered Owners of the 2026 Refunding Bonds.

The 2026 Refunding Bonds maturing on or prior to February 1, 20[__] are not subject to redemption prior to maturity. The 2026 Refund ing Bonds maturing on and after February 1, 20[__] are subject to redemption prior to maturity, at the option of the City, as a whole or in part, on February 1, 2034, or on any date th ereafter, in any order of matur ity as directed in writing by the City and by lot within a matu rity, from funds derived by the C ity from any legal source, at a redemption price equal to 100% of the principal amount of the 2026 Refunding Bonds to be redeemed, together with accrued interest to the redemption date.

The 2026 Refunding Bonds maturing on Februa ry 1, 20[__] and February 1, 20[__] are subject to mandatory sinking account redemption prior to maturity, in part, at a redemption price of one hundred percent (100%) of the principal amount thereof pl us interest accrued to the redemption date, from mandatory sinking account pa yments set aside in the Parity Obligation Payment Fund for such purpose, in the amounts and on the dates se t forth in the Indenture of Trust.

Notice of redemption prior to maturity shall be given as provided in the Indenture of Trust. The 2026 Refunding Bonds are registrable, as to principal and inte rest, in denominations of $5,000 principal amount or any integral multip le thereof. This 2026 Refunding Bond is transferable by the registered Own er hereof, in person or by his or her duly authorized attorney, at the Corporate Trust Office of the Trustee in Los Angeles, Cali fornia, or such other place as designated by the Trustee. This 2026 Refunding Bond may be exchanged at the Corporate Trust Office of the Trustee, or such other place as de signated by the Trustee, for a like aggregate principal amount of 2026 Refunding Bonds of ot her denominations of the same Series and maturity. Any such transfer and exchange shall be only in the manner, subject to the limitations, and upon payment of the charges provided in the I ndenture of Trust. Upon such transfer or exchange, a new registered 2026 Refunding Bond of authorized denomination or denominations for a like aggregate principal amount of the same Series, interest rate and maturity shall be issued to the transferee in exchange herefor.
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301998187.2 (Glendale: E.S. Twelfth Supp.) A-4
The Trustee may treat the registered Owner he reof as the absolute Owner hereof for all purposes, and shall not be affected by any notice to the contrary.

It is hereby certified and recited that any a nd all acts, conditions a nd things required to exist, to happen and to be performed precedent to and in the issuance of this 2026 Refunding Bond exist, have happened, and have been perform ed in due time, form and manner, as required by the Constitution and statutes of the State of California and the Charter, and that this 2026 Refunding Bond is within every debt and other limit prescribed by or pursuant to the Constitution and statutes of the State of California and the Charter. Pursuant to Article XXVI of the Charter, the foregoing recital of regularity of proceedings shall be c onclusive evidence of compliance with the provisions of Article XXVI of the Charter and of the validity of this 2026 Refunding Bond.
[Signature page follows.]
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301998187.2 (Glendale: E.S. Twelfth Supp.) A-5
IN WITNESS WHEREOF, the City has cau sed this 2026 Refunding Bond to be signed by the Mayor, the Director of Finance and the City Clerk of the City by their manual or facsimile signatures and the corporate seal of the City to be reproduced hereon.

___________________________________
Mayor of the City of Glendale, California

___________________________________
Director of Finance of the City of Glendale,
California
ATTEST:

_____________________________________
City Clerk of the City of Glendale, California

(SEAL)

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301998187.2 (Glendale: E.S. Twelfth Supp.) A-6

CERTIFICATE OF AUTHENTICATION
This is one of the City of Glendale, Ca lifornia Electric Revenue Bonds, 2026 Refunding Series, described in Ordi nance No. [Ord. Number] a nd in the Indenture of Trust of the City of Glendale, California, dated as of February 1, 2000, as supplemented and amended, including as supplemented by the Twelfth Supplement to Indenture of Trust, dated as of May 1, 2026.

Dated: ______, 20__

THE BANK OF NEW YORK MELLON
TRUST COMPANY, N.A., as Trustee

By:________________________________
Authorized Officer

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301998187.2 (Glendale: E.S. Twelfth Supp.) A-7

ASSIGNMENT
FOR VALUE RECEIVED, the u ndersigned hereby sells, a ssigns and transfers unto __________________________________________________________ (Taxpayer Identification Number: ____________) the within Bond and all ri ghts thereunder, and hereby irrevocably constitutes and appoi nts __________________________________________________ attorney to transfer the within Bond on the books kept fo r registration thereof, with full power of substitution in the premises.

Dated: _______________
Note: The signature to this Assignment must correspond with the name as written on the face of the Bond in every particular, without alteration or enlargement or any change whatever.

Signature Guaranteed: _________________________________________ Notice: Signature guarantee shall be made by a guarantor institution participating in the Securities Transfer Agents Medallion Program or in such other guarantee program acceptable to the Trustee.

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Norton Rose Fulbright US LLP draft of 2/21/26
302015689.2 1
CON

TINUING DISCLOSURE AGREEMENT
This Continuing Disclosure Agreement (the “Disclosure Agreement”), dated as of May 1, 2026, is executed and delivered by the City of Gl endale, California (the “City”) and The Bank of New York Mellon Trust Company, N.A., disse mination agent (in such capacity, the “Dissemination Agent”), in connection with the issuance of $_______ aggregate principal amount of City of Glendale Electric Revenue Bonds, 2026 Refunding Series (the “2026 Refunding Series Bonds”). The 2026 Refunding Series Bonds are bein g issued pursuant to Article XXVI of the Charter, Ordinance No. [____] (the “Ordinance”), adopted on [_____], 2026 by the City Council (the “City Council”) of the City and an Indenture of Trust, dated as of February 1, 2000, by and between the City and The Bank of New York Me llon Trust Company, N.A., as successor trustee (in such capacity, the “Trustee”) (as supplemented and amended, the “Indenture”). The City and the Dissemination Agent covenant and agree as follows:

SECTION 1. Purpose of this Disclosure Agreement. This Disclosure Agreement is being executed and delivered by the City and the Dissemination Agent for the benefit of the Holders and Beneficial Owners of the 2026 Ref unding Series Bonds and in order to assist the Participating Underwriter in complying with Securities and Exchange Commission Rule 15c2-12.

SECTION 2. Definitions. In addition to the definitions set forth in the Indenture, which apply to any capitalized term used in this Disclosure Agreement unless otherwise defined in this Section 2, the following capitalized terms shall have the following meanings:
“Annual Report” shall mean any Annual Report provided by the City pursuant to, and as described in, Sections 3 and 4 of this Disclosure Agreement. “Beneficial Owner” shall mean any person which (a) has the power, directly or indirectly, to vote or consent with respect to, or to dispose of ownership of any 2026 Refunding Series Bonds (including persons holding 2026 Refunding Series Bonds through nominees, depositories or other intermediaries), or (b) is tr eated as the owner of any 2026 Refunding Series Bonds for federal income tax purposes.
“Dissemination Agent” shall mean The Bank of New York Mellon Trust Company, N.A., acting in its capacity as Disse mination Agent hereunder, or a ny successor Dissemination Agent designated in writing by the City and which has filed with the Trustee a written acceptance of such designation.
“Financial Obligation” shall mean a (a) debt obligation; (b) derivative instrument entered into in connection with, or pledged as security or a source of payment for, an existing or planned debt obligation; or (c) guarantee of a debt obligation or any such derivative instrument; provided that “financial obligation” shall not include muni cipal securities as to which a final official statement (as defined in the Rule) has been provided to the MSRB consistent with the Rule. “Fiscal Year” shall mean the period beginning on July 1 of each year and ending on the next succeeding June 30, or any twelve-month or fifty-two week period hereafter selected by the City, with notice of such selection or change in fiscal year to be provided as set forth herein.

EXHIBIT D
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302015689.2 2
“Listed Events” shall mean any of the events listed in Section 5(a) of this Disclosure Agreement.
“MSRB” shall mean the Municipal Securitie s Rulemaking Board established pursuant to Section 15B(b)(1) of the Securities Exchange Ac t of 1934, as amended, or any other entity designated or authorized by the Securities and Exchange Commission to receive reports pursuant to the Rule. Until otherwise designed by the MSRB or the Securities and Exchange Commission, filings with the MSRB are to be made throu gh the Electronic Municipal Marketplace Access (“EMMA”) website of the MSRB, currently located at http://emma.msrb.org. “Owner” shall mean either the registered owners of the 2026 Refunding Series Bonds, or, if the 2026 Refunding Series Bonds are registered in the name of The Depository Trust Company or another recognized depository, any applicable participant in such depository system. “Participating Underwriter” shall mean any of the original un derwriter or underwriters of the 2026 Refunding Series Bonds required to comply with the Rule in connection with offering of the 2026 Refunding Series Bonds.
“Rule” shall mean Rule 15c2-12 adopted by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as the same has been or may be amended from time to time.
“State” shall mean the State of California.

SECTION 3. Provision of Annual Reports.
(a) The City shall, or shall cause the Di ssemination Agent to, not later than seven months after the end of the City’s Fiscal Year, commencing with the report for the Fiscal Year ended June 30, 2026, provide to the MSRB an A nnual Report which is co nsistent with the requirements of Section 4 of this Disclosure Agreement. The Annual Report may be submitted as a single document or as separate documents comprising a package, and may include by reference other information as provided in Section 4 of this Disclosure Agreement; provided that the audited financial statements of the City may be submitted separately from the balance of the Annual Report and later than the date required above for the filing of the Annual Report if they are not available by that date. If the Fiscal Year changes for the C ity, the City shall give notice of such change in the manner provided under Section 5 hereof.
(b) Not later than ten (10) Business Days pr ior to the date specified in subsection (a) for providing the Annual Report to the MSRB, the City shall pr ovide its Annual Report to the Dissemination Agent. If by ten (10) Business Days prior to such date specified in subsection (a), the Dissemination Agent has not received a copy of the Annual Report from the City, the Dissemination Agent shall promptly notify the City of such failure to receive the report. The City shall provide a written statement with each A nnual Report furnished to the Dissemination Agent to the effect that such Annual Report constitutes the Annual Report required to be furnished by it hereunder. The Dissemination Agent may conclusively rely upon such statement of the City and shall have no duty or obligation to review such Annual Report. 122 of 280

302015689.2 3
(c) If the Dissemination Agent is unable to ve rify that an Annual Report of the City has been provided to the MSRB by the date required in subsection (a), the City shall, in a timely manner, send a notice to the MSRB in substantially the form attached hereto as Exhibit A. (d) The Dissemination Agent shall:
(i) confirm prior to the date for providi ng the Annual Report for such year the electronic filing address of, and the then-current procedure for, submitting Annual Reports to the MSRB;
(ii) provide the Annual Report to EMMA (upon timely receipt from the City, if the Dissemination Agent is other than the City); and
(iii) provided it has receive d the Annual Report pursuant to Section 3(a), file a report with the City (and if the entity serving as Dissemination Agent is not the same entity serving as Trustee, the Trus tee) certifying that the Annual Report has been provided pursuant to this Disclosu re Agreement, stating the date it was provided. The Dissemination Agent shall have no responsibility for the content of any Annual Report.

SECTION 4. Content of Annual Reports.
(a) The City’s Annual Report shall contai n or include by reference the following:
(i) The audited financial statements of the City’s Electric Works Revenue Fund for the most recently completed Fiscal Year , prepared in accordance with generally accepted accounting principles for governmental enterprises as prescribed from time to time by any regulatory body with jurisdiction over the City and by the Governmental Accounting Standards Board. If the City’s au dited financial statements are not available by the time the Annual Report is required to be filed pursuant to Section 3(a), the Annual Report shall contain unaudited fi nancial statements in a format similar to the financial statements contained in the final Official St atement, and the audited financial statements shall be filed in the same manner as the Annual Report when they become available. (ii) Updated information comparable to the information in the following charts:
(a) the chart entitled “Electric System Facilities” as it appears on page [20] in the Official Statement, dated _______, 2026, relating to the 2026 Refunding Series Bonds (the “Official Statement”);
(b) the chart entitled “Total Powe r Generated and Purchased and Peak Demand” as it appears on page [2]0 in the Official Statement; (c) the chart entitled “Power Suppl y Resources” as it appears on page [21] in the Official Statement;
(d) the chart entitled “F ive Year History of Electrical System Rates” as it appears on page [32] in the Official Statement;
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(e) the chart entitled “Percentage In crease in Electric Rates” as it appears on page [34] in the Official Statement;
(f) the chart entitled “Customers, Sales, Revenues and Demand” as it appears on page [35] in the Official Statement;
(g) the chart entitled “Capital Requi rements” as it appears on page [36] in the Official Statement;
(h) the chart entitled “Outstanding IPA and SCPPA Obligations” as it appears on page [38] in the Official Statement;
(i) the chart entitled “Historical an d Projected Operating Results and Debt Service Coverage” as it appears on page [40] in the Official Statement; and (j) the chart entitled “Electric System Statement of Net Position” as it appears on pages [41-42] in the Official Statement.
(iii) Updated information comparable to th e information in the section entitled “THE ELECTRIC SYSTEM — Transfers to the General Fund” as such information appears on page [36] in the Official Statement.
(b) Any or all of the items listed above may be included by specific reference to other documents, including official statements of debt issues of the City or public entities related thereto, which have been submitted to the MSRB or the Securities and Exch ange Commission. If the document included by reference is a final official statement, it must be available from the MSRB.

The City shall clearly identify each such other document so included by reference. (c) The contents, presentation and format of the Annual Reports may be modified from time to time as determined in the judgment of th e City to conform to changes in accounting or disclosure principles or practices and legal requirements followed by or applicable to the City or to reflect changes in the legal form of the City; provided, that any such modifications shall comply with the requirements of the Rule.
(d) The City shall be solely responsible for the contents and sufficiency of each Annual Report and each notice of any Listed Events pur suant to Section 5. The Dissemination Agent (if other than the City) shall not be under any obligation to review or verify the contents of any Annual Report or notice of Listed Events in any respect or for any purpose, and the Dissemination Agent (if other than the City) shall not be responsible or liable for the actions or omissions of the City concerning any Annual Report or notice of Listed Events or concerning the City’s compliance with the requirements of this Agreement.

SECTION 5. Reporting of Significant Events.
(a) Pursuant to the provisi ons of this section, upon th e occurrence of any of the following events (in each case to the extent applicable) with respect to the 2026 Refunding Series Bonds, the City shall give, or cause to be given by so notifying the Dissemination Agent in writing 124 of 280

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and instructing the Dissemination Ag ent to give, notice of the occurrence of such event, in each case, pursuant to Section 5(c) hereof:
(i) principal or interest payment delinquencies;
(ii) non-payment related defaults, if material;
(iii) modifications to the rights of the Owners of the 2026 Refunding Series Bonds, if material;
(iv) optional, contingent or unsche duled calls, if material, and tender offers;
(v) defeasances;
(vi) rating changes;
(vii) adverse tax opinions or the issu ance by the Internal Revenue Service of proposed or final determ inations of taxability, No tices of Proposed Issue (IRS Form 5701-TEB) or other material notices or determinations with respect to the tax status of the 2026 Refunding Series Bonds or other mate rial events affecting the tax status of the 2026 Refunding Series Bonds;
(viii) unscheduled draws on the debt service reserves reflecting financial difficulties;
(ix) unscheduled draws on the credit enhancements reflecting financial difficulties;
(x) substitution of the credit or liqui dity providers or their failure to perform;
(xi) release, substitution or sale of property securing repayment of the 2026 Refunding Series Bonds, if material;
(xii) bankruptcy, insolvency, receiversh ip or similar proceedings of the City, which shall occur as described below;
(xiii) appointment of a successor or additional trus tee or the change of name of a trustee, if material;
(xiv) the consummation of a merg er, consolidation, or acquisition involving the City or the sale of all or subs tantially all of the assets of the Electric System of the City other than in the ordinary course of business, the entry into a definitive agreement to undertake such an action or the termination of a definitive agreement relating to any such actions, other than pursuant to its terms, if material; (xv) incurrence of a Financial Oblig ation of the City’s Electric System, or agreement to covenants, events of defa ult, remedies, prior ity rights, or other similar terms of a Financial Obligation of the City’s Electric System, any of which affect holders of the 2026 Refunding Series Bonds, if material; or 125 of 280

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(xvi) default, event of accelerati on, termination event, modification of terms, or other similar events under the terms of a Financial Obligation of the City’s Electric System, any of which reflect financial difficulties.

For these purposes, any event desc ribed in item (xii) of this S ection 5(a) is considered to occur when any of the following occur: the appoint ment of a receiver, fiscal agent, or similar officer for the City in a proceeding under the Un ited States Bankruptcy Code or in any other proceeding under state or federal law in which a court or governmental authority has assumed jurisdiction over substantially all of the assets or business of the City, or if such jurisdiction has been assumed by leaving the existing governing body and officials or officers in possession but subject to the supervision and orders of a court or governmental authority, or the entry of an order confirming a plan of reorganization, arrangeme nt, or liquidation by a c ourt or governmental authority having supervision or juri sdiction over substantially all of the assets or bu siness of the City.
(b) Upon receipt of notice from the City and instruction by the City to report the occurrence of any Listed Event, the Dissemination Agent shall provide notice thereof to the MSRB in accordance with Secti on 5(c) hereof. The Dissemination Agent shall have no responsibility to determine the materiality, if applicable, of any of the Listed Events. (c) The City, or the Dissemination Agent, if the Dissemination Agent has been instructed by the City to report the occurrence of a Listed Event, shall file a notice of such occurrence with the MSRB in a timely manner not more than ten (10) business days after the occurrence of the event.

SECTION 6. Termination of Reporting Obligat ion. The obligations of the City and the Dissemination Agent under this Disclosure Agreement shall terminate upon the legal defeasance, prior redemption or payment in full of all of the 2026 Refunding Series Bonds.

SECTION 7. Dissemination Agent. The City may, from time to time, appoint or engage a Dissemination Agent to assist it in carrying out its obligations under this Disclosure Agreement, and may discharge any such Dissemination Agen t, with or without appointing a successor Dissemination Agent. The initial Dissemination Agent shall be The Bank of New York Mellon Trust Company, N.A. The Dissemination Agent may resign by providing thirty (30) days’ written notice to the City.

SECTION 8. Amendment; Waiver. Notw ithstanding any other provision of this Disclosure Agreement, the City and the Di ssemination Agent may amend this Disclosure Agreement (and the Dissemination Agent shall agree to any amendment so requested by the City which does not impose any greater duties or obliga tions or any greater risk of liability on the Dissemination Agent), and any provision of this Disclosure Agreement may be waived, provided that the following conditions are satisfied:
(a) If the amendment or waiver relates to th e provisions of Sections 3(a) or 4, it may only be made in connection with a change in circumstances that arises from a ch ange in legal requirements, change in law, or change in the identity, nature or status of an obligated person with respect to the 2026 Refunding Series Bonds, or the type of business conducted; 126 of 280

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(b) The undertaking, as amended or taking in to account such waiver, would, in the opinion of nationally recognized bond counsel, have complied with the requirements of the Rule at the time of the original issuance of the 2026 Refunding Series Bonds, after taking into account any amendments or interpretations of the Rule, as well as any change in circumstances; and (c) The amendment or waiver either (i) is approved by the Holders of the 2026 Refunding Series Bonds in the same manner as provided in th e Indenture with respect to amendments to the Indenture which require the consent of Holders, or (ii) does not, in the opinion of nationally recognized bond counsel, materially impair the interests of the Holders or Beneficial Owners of the 2026 Refunding Series Bonds.

If any amendment or waiver of a pr ovision of this Disclosure Agreement, the City shall describe such amendment in its next Annual Report, and shall include, as applicable, a narrative explanation of the reason for the amendment or waiver and its impact on the ty pe (or in the case of a change of accounting principles, on the presentation) of financial information or operating data being presented by the City. In addition, if the amen dment relates to the accoun ting principles to be followed in preparing financial statements, (i) notice of such change shall be given in the manner provided in Section 5 and (ii) the Annual Report for the year in which the change is made should present a comparison (in narrative form and also, if feasible, in quantitative form) between the financial statements as prepared on the basis of the new accounting principles and those prepared on the basis of the former accounting principles.

SECTION 9. Additional Information. Nothing in this Disclosure Agreement shall be deemed to prevent the City from disseminati ng any other information, using the means of dissemination set forth in this Disclosure Agre ement or any other mean s of communication, or including any other information in any Annual Report, in addition to that which is required by this Disclosure Agreement. If the City chooses to include any information in any Annual Report in addition to that which is specifica lly required by this Disclosure Agreement, the City shall have no obligation under this Disclosure Agreement or otherwise to update such information or include it in any future Annual Report.

SECTION 10. Filings with the MSRB. A ll information, operating data, financial statements, annual reports, notices and other documents provided to the MSRB in accordance with this Disclosure Agreement shall be provided in an electronic format prescribed by the MSRB and shall be accompanied by identifying information as prescribed by the MSRB.

SECTION 11. Default. In the event of a failure of the City or the Dissemination Agent to comply with any provision of this Disclosure Agreement, the Dissemination Agent may (and, at the request of any Participating Underwriter or the Holders of at least 25% aggregate principal amount of outstanding 2026 Refu nding Series Bonds, shall) upon being indemnified to its satisfaction, or any Holder or Beneficial Own er of the 2026 Refunding Series Bonds may, take such actions as may be necessary and approp riate, including seeking mandate or specific performance by court order, to cause the City or the Dissemination Agent, as the case may be, to comply with its obligations under this Disclosure Agreement. The sole remedy under this Disclosure Agreement in the event of any failure of the City or the Dissemination Agent to comply with this Disclosure Agreement shall be an action to compel performance. 127 of 280

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SECTION 12. Duties, Immunities and Liabilities of Dissemination Agent. Article VII of the Indenture is hereby made applicable to the Dissemination Agent under this Disclosure Agreement as if this Disclosure Agreement were (solely for this pur pose) contained in the Indenture. The Dissemination Agent shall be entitled to the protections, limitations from liability and indemnities afforded to the Trustee there under; provided, however, that the foregoing shall not be construed to impose upon the Dissemination Agent any duties or obligations of the Trustee.

The Dissemination Agent shall have only such duties as are specifically set forth in this Disclosure Agreement, and the City agrees, to the extent permitted by law, to indemnify and save the Dissemination Agent, its officers, directors, em ployees and agents, harmless against any loss, expense and liabilities which it ma y incur arising out of or in th e exercise or performance of its powers and duties hereunder, incl uding the costs and expenses (i ncluding reasonable attorneys’ fees) of defending against any claim of liability, but excluding liabilities due to the Dissemination Agent’s negligence or willful misconduct. The obligations of the City under this Section 12 shall survive resignation or removal of the Dissemination Agent and payment of the 2026 Refunding Series Bonds. The Dissemination Agent shall be paid compensation by the City for its services provided hereunder in accordance with its schedule of fees as agreed to between the Dissemination Agent and the City. Any company succeeding to all or substantially all of the Dissemination Agent’s corporate trust busine ss shall be the successor to th e Dissemination Agent hereunder without the execution or filing of any document or any further act.

SECTION 13. Beneficiaries. This Disclosure Agreement shall inure solely to the benefit of the City, the Trustee, the Dissemination Agent, the Participating Underwriter and Holders and Beneficial Owners from time to time of the 2026 Refunding Series Bonds, and shall create no rights in any other person or entity. No person shall have any right to commence any action against the Trustee or the Dissemination Agent seeki ng any remedy other than to compel specific performance of this Disclosure Agreement. Neither the Trustee nor the Dissemination Agent shall be liable under any circumstances for monetary da mages to any person for any breach of this Disclosure Agreement.

SECTION 14. Notices. All written notices to be given hereunder shall be given in person or by mail to the party entitled th ereto at its address set forth belo w, or at such other address as such party may provide to the other parties in writing from time to time, namely:

To the City:

City of Glendale
141 N. Glendale Avenue
Room 346
Glendale, California 91206-4998
Attention: Director of Finance
Telephone: (818) 548-2085
Facsimile: (818) 956-3286
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To the Dissemination Agent: The Bank of New York Mellon Trust Company, N.A. 333 South Hope Street
Suite 2525
Los Angeles, California 90071
Attention: California Unit
Telephone: (213) 630-6240
Email: [email protected]

The Dissemination Agent and the City may, by notice given here under, designate any further or different addresses to which subseque nt notices, certificates or other communications shall be sent. Unless specifically otherwise required by the context of this Disclosure Agreement, any notices required to be given hereunder to th e Dissemination Agent or the City may be given by any form of electronic transmission capable of producing a written record. Each such party shall file with the Dissemination Agent inform ation appropriate to re ceiving such form of electronic transmission.
[Remainder of Page Intentionally Left Blank]
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SECTION 15. Counterparts. This Disclosure Agreement may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument.

CITY OF GLENDALE, CALIFORNIA
B y
Director of Finance

THE BANK OF NEW YORK MELLON TRUST
COMPANY, N.A., as Dissemination Agent
B y
Authorized Officer

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EXHIBIT A

NOTICE OF FAILURE TO FILE ANNUAL REPORT
Name of Issuer: CITY OF GLENDALE, CALIFORNIA
Name of Issue: ELECTRIC REVE NUE BONDS, 2026 REFUNDING SERIES Date of Issuance: _________, 2026
NOTICE IS HEREBY GIVEN that the City of Glendale, California (the “City”) has not provided an Annual Report with respect to the above-named 2026 Refunding Series Bonds as required by the Continuing Disclosure Agreement, dated as of May 1, 2026, between the City and The Bank of New York Mellon Trust Company, N.A., as Dissemination Agent. The City anticipates that the Annual Report will be filed by [date].

Dated:

The Bank of New York Mellon Trust Company, N.A.,
as Dissemination Agent, on behalf of the City of Glendale, California
B y
Title:
cc: City of Glendale, California

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302015825.4
This Preliminary Official Statement and the information contained herein are subject to completion or amendment. Under no circumstances shall this Preliminary Official Statement constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful.

PRELIMINARY OFFICIAL STATEMENT DATED [______], 2026
Rating: Moody’s: [__]
New Issue–Full Book-Entry (See “RATING” herein)
In the opinion of Norton Rose Fulbright US LLP, Los Angeles, California, Bond Counsel, under existing law, interest on the 2026 Refunding Bonds is exempt from personal income taxes of the State of California and, assuming compliance with the tax covenants described herein, interest on the 2026 Refunding Bonds will be excludable from the gross income of the owners thereof for federal income tax purposes and will not be treated as an item of tax preference for purposes of the federal alternative minimum tax on individuals. See “TAX MATTERS” herein. $[PAR AMOUNT]*

CITY OF GLENDALE, CALIFORNIA
ELECTRIC REVENUE BONDS, 2026 REFUNDING SERIES
Dated: Date of Delivery Due: February 1, as shown on the inside cover The City of Glendale, California (the “City” or “Glendale”) is issuing its Electric Revenue Bonds, 2026 Refunding Series (the “2026 Refunding Bonds”) for the purpose of providing moneys to (i) refund all or a portion of the City’s outstanding Electric Revenue Bonds, 2016 Refunding Series (the “2016 Refunding Bonds”) and (iii) pay the costs of issuance of the 2026 Refunding Bonds. See “THE PROJECTS” and “PLAN OF REFUNDING” herein.

The 2026 Refunding Bonds are being issued pursuant to an Indenture of Trust, dated as of February 1, 2000, by and between the City and The Bank of New York Mellon Trust Company, N.A., as trustee (the “Trustee”), as supplemented and amended, including as supplemented and amended by the Twelfth Supplement to Indenture of Trust, dated as of May 1, 2026, each by and between the City and the Trustee (collectively, the “Indenture of Trust”).

The 2026 Refunding Bonds are being issued in fully registered form, and, when issued, will be registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York (“DTC”). DTC will act as securities depository of the 2026 Refunding Bonds. Beneficial ownership interests in the 2026 Refunding Bonds may be purchased in book-entry form only in denominations of $5,000 principal amount or any integral multiple thereof.

Interest on the 2026 Refund ing Bonds will be payable semiannually on February 1 and August 1 of each year, commencing August 1, 2026. Payments of principal of and interest on the 2026 Refunding Bonds will be paid by the Trustee to DTC, which is obligated in turn to remit such principal and interest to its DTC Participants for subsequent disbursement to the beneficial owners of the 2026 Refunding Bonds.

The 2026 Refunding Bonds are subject to redemption prior to maturity as described herein. See “THE 2026 REFUNDING BONDS - Redemption” herein.

The 2026 Refunding Bonds are an obligation solely payable from the Electric Works Revenue Fund of the City and certain other funds as provided in the Indenture of Trust. The 2026 Refunding Bonds will be secured by a pledge of and lien upon Net Income of the Electric System on a parity with other obligations of the Electric System payable from Net Income of the Electric System and issued from time to time pursuant to the terms of the Indenture of Trust, including the City’s Electric Revenue Bonds, 2024 Series; Electric Revenue Bonds, 2024 Refunding Series; Electric Revenue Bonds, 2024 Second Series and Electric Revenue Bonds, 2025 Series, as described herein.

The general fund of the City is no t liable for the payment of any Bond (as defined herein, including any 2026 Refunding Bond) or interest thereon, nor is the credit or taxing power of the City pledged for the payment of any Bond or interest thereon. The Owner of any Bond shall not compel the exercise of the taxing power by the City or the forfeiture of any of its property. The principal of and interest on the Bonds are not a debt of the City nor a legal or equitable pledge, charge, lien or encumbrance upon any of its property or upon any of its income, receipts or revenues, except the Net Income and certain other funds that are pledged pursuant to the Indenture of Trust to the payment of the Bonds and interest thereon.

This cover page contains certain information for general reference only. It is not intended to be a summary of the security or terms of this issue. Inve stors must read the entire Offi cial Statement to obtain information essential to the making of an informed investment decision. Capitalized terms used on this cover page not otherwise defined shall have the meanings set forth herein.

The 2026 Refunding Bonds are expected to be sold by competitive sale on [___], 2026, pursuant to the Notice Inviting Bids dated July 7, 2025. The 2026 Refunding Bonds are offered when, as and if delivered to and received by the Underwriter, subject to the approving opinion of Norton Rose Fulbright US LLP, Bond Counsel and Disclosure Counsel to the City. Certain legal matters will be passed upon for the City by the City Attorney of the City of Glendale.

PFM Financial Advisors LLC, Los Angeles, California, is serving as municipal advisor to the City in connection with * Preliminary, subject to change.

EXHIBIT E
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the issuance of the 2026 Refunding Bonds. It is anticipated that the 2026 Refunding Bonds will be available for delivery through the book-entry facilities of DTC on or about May __, 2026.

Date: __________, 2026
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302015825.4

MATURITY SCHEDULE*
$[PAR AMOUNT]

CITY OF GLENDALE, CALIFORNIA
ELECTRIC REVENUE BONDS, 2026 REFUNDING SERIES
Maturity Date
(February 1)
Principal
Amount
Interest
Rate Yield Price
CUSIP
Number†
$ % %

$_________ _____% 2026 Refunding Term Bond maturing February 1, 20__ Yield _____% Price ______ CUSIP
† _______

* Preliminary, subject to change.
† CUSIP® is a registered trademark of the American Bankers Association. CUSIP data herein are provided by CUSIP Global Services, managed by FactSet Re search Systems Inc. on behalf of the American Bankers Association.

CUSIP numbers have been assigned by an independent company not affiliated with the City and are included solely for the convenience of the holders of the 2026 Refunding Bonds. The City is not responsible for the selection or use of these CUSIP numbers and no representation is made as to their correctness on the 2026 Refunding Bonds or as indicated above. The CUSIP number for a specific bond is subject to being changed after the issuance of the bonds as a result of various subsequent actions including, but not limited to, a refunding in whole or in part of such maturity or as a result of the procurement of secondary market portfolio insurance or other similar enhancement by investors that is applicable to all or a portion of such bonds.

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No dealer, broker, salesperson or other person has b een authorized by the City of Glendale (the “City” or “Glendale”) to give any information or to make any representations, other than those contained herein, and if given or made, such other information or representations must not be relied upon as having been authorized by the City.

This Official Statement is not to be constr ued as a contract with the purchasers of the 2026 Refunding Bonds. Statements contained in this Offi cial Statement which involve estimates, forecasts or matters of opinion, whether or not expressly described herein, are intended solely as such and are not to be construed as representations of fact. In making an i nvestment decision, investors must rely on their own examination of the City and the terms of the offering, including the merits and risks involved.

The information set forth herein has been furnished by the Ci ty and other sources which are believed to be reliable. The inform ation and expressions of opinions herein are subject to change without notice and neither the delivery of this Official St atement nor any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the City since the date hereof.

The Underwriter has reviewed the information in this Official Statement in accordance with, and as part of, their responsibilities to investors under the fe deral securities laws as applied to the facts and circumstances of this transaction, but the Underwrite r does not guarantee the accuracy or completeness of such information.

Statements in this Official Statement are made as of the date hereof unless stated otherwise and neither the delivery of this Official Statement at any time, nor any sales thereunder, shall under any circumstances create an implicati on that the information contained herein is correct as of any time subsequent to the date hereof. Ce rtain statements included or incorporated by reference in this Official Statement constitute “forward-looking statements.” Such statements are gene rally identifiable by the terminology used, such as “plan,” “project,” “expect ,” “anticipate,” “intend,” “believe,” “estimate,” “budget” or other similar words. The achievement of certain results or other expectations contained in such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements describ ed to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. The City does not plan to issue any updates or revisions to those forward-looking statements if or when its expectations or events, conditions or circumstances on which such statements are based occur.

THE 2026 REFUNDING BONDS HAVE NOT BEEN REGISTERED WITH THE SECURITIES AND EXCHANGE COMMISSION (THE “SEC”) UNDER THE SECURITIES ACT OF 1933, AS AMENDED, IN RELIANCE UPON AN EXEMPTION CONTAINED IN SUCH ACT. THE INDENTURE HAS NOT BEEN QUALIFIED UNDE R THE TRUST INDENTURE ACT OF 1939, AS AMENDED, IN RELIANCE UPON AN EXEMPTION CONTAINED IN SUCH ACT.

This Official Statement, including any supplem ent or amendment hereto, is intended to be deposited with the Municipal Securities Rulemaking Board through the Electronic Municipal Marketplace Access (“EMMA”) website. The City maintains a website. However, the information presented therein is not part of this Official Statement and should not be relied upon in making investment decisions with respect to the 2026 Refunding Bonds. The references to internet websites in this Official Statement are shown for reference and convenience only; unless explicitly stated to the contrary, the information contained within the websites is not incorporated herein by reference and does not constitute part of this Official Statement.

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CITY OF GLENDALE, CALIFORNIA

CITY COUNCIL
Ara Najarian, Mayor
Ardy Kassakhian, Councilmember
Daniel Brotman, Councilmember
Elen Asatryan, Councilmember
Vartan Gharpetian, Councilmember

CITY OFFICIALS AND STAFF
Roubik Golanian, City Manager
Rafi Manoukian, City Treasurer
Michael J. Garcia, City Attorney
Shijie Jack Liang, Director of Finance

GLENDALE WATER AND POWER COMMISSION
Alex Fay, President
Ted Flenigan, Member
Hrand Avanessian, Member
Zanku Armenian, Member
Varoojan Avedian, Member

UTILITY STAFF
Scott K. Mellon, P.E. General Manager of Glendale Water and Power Daniel Scorza, Chief Assistant General Manager, Electric Adrine Isayan, Assistant General Manager, Utility Finance and Risk Management

BOND COUNSEL

AND DISCLOSURE COUNSEL
Norton Rose Fulbright US LLP
Los Angeles, California

MUNICIPAL ADVISOR
PFM Financial Advisors LLC
Los Angeles, California

TRUSTEE
The Bank of New York Mellon Trust Company, N.A.

Los Angeles, California

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TABLE OF CONTENTS
Page
INTRODUCTION ....................................................................................................................................... 1 Purpose ........................................................................................................................................... 1 Authority for Issuance ..................................................................................................................... 1 The City .......................................................................................................................................... 2 Security and Sources of Payment for the Bonds ............................................................................. 2 Option to Obtain Bond Insurance ................................................................................................... 2 Parity Bonds and Obligations ......................................................................................................... 3 Parity Reserve Fund ........................................................................................................................ 3 Rate Covenant ................................................................................................................................. 3 Continuing Disclosure ......................................................................................................... ........... 3 Other Matters .................................................................................................................................. 3 PLAN OF REFUNDING ............................................................................................................................. 4 ESTIMATED SOURCES AND USES OF FUNDS ................................................................................... 5 ELECTRIC SYSTEM DEBT SERVICE REQUIREMENTS ..................................................................... 5 THE 2026 REFUNDING BONDS .............................................................................................................. 5 General ........................................................................................................................................... 5 Redemption ..................................................................................................................................... 6 SECURITY AND SOURCES OF PAYMENT FOR THE BONDS ........................................................... 7 General ........................................................................................................................................... 7 Rate Covenant ................................................................................................................................. 9 Funds and Accounts; Electric Works Revenue Fund ...................................................................... 9 Parity Reserve Fund ........................................................................................................................ 9 Additional Bonds .......................................................................................................................... 10 Investment of Funds ...................................................................................................................... 12 Limitations on Remedies; Legislative and Other Changes ........................................................... 12 GLENDALE WATER AND POWER ...................................................................................................... 13 General Description ...................................................................................................................... 13 Management of the Department .................................................................................................... 13 Glendale Water and Power Governance ....................................................................................... 14 Employees of Glendale Water and Power .................................................................................... 15 Pension Plan .................................................................................................................................. 15 Post-Retirement Health Benefits ................................................................................................... 15 Insurance ....................................................................................................................................... 16 THE ELECTRIC SYSTEM ....................................................................................................................... 16 History and General ...................................................................................................................... 16 Principal Existing Facilities; Resources Generally ....................................................................... 17 Power Supply ................................................................................................................................ 19 Joint Powers Agency Resources/Remote Ownership Interests ..................................................... 20 Purchased Power ........................................................................................................................... 25 Fuel Supply ................................................................................................................................... 26 Existing Transmission Resources ................................................................................................. 27 137 of 280

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Wholesale Transactions ................................................................................................................ 30 Interconnections and Distribution Facilities ................................................................................. 30 Electric Rates and Charges ........................................................................................................... 30 Customers, Energy Sales, Revenues and Demand ........................................................................ 34 Capital Requirements .................................................................................................................... 35 Transfers to the General Fund ....................................................................................................... 35 Indebtedness; Joint Powers Agency Obligations .......................................................................... 36 Historical Operating Results and Debt Service Coverage ............................................................ 39 Wildfire Mitigation Measures ....................................................................................................... 41 Litigation ....................................................................................................................................... 42 CERTAIN RISK FACTORS ..................................................................................................................... 42 Bonds are Limited Obligations ..................................................................................................... 42 Limitations on Remedies .............................................................................................................. 42 Electric System Expenses and Collections ................................................................................... 43 Rate Regulation ............................................................................................................................. 43 Certain Factors Affecting the Electric Utility Industry ................................................................. 43 Proposition 218 and Proposition 26 .............................................................................................. 43 Future Initiatives ........................................................................................................................... 45 Loss of Tax Exemption ................................................................................................................. 45 Casualty Risk ................................................................................................................................ 45 Cybersecurity ................................................................................................................................ 46 Global Health Emergencies .......................................................................................................... 46 DEVELOPMENTS IN THE CALIFORNIA ENERGY MARKETS ....................................................... 47 State Legislation and Regulatory Proceedings .............................................................................. 47 Impact of California Energy Market Developments ..................................................................... 54 Federal Executive Order Regarding State Laws ........................................................................... 54 OTHER FACTORS AFFECTING THE ELECTRIC UTILITY INDUSTRY .......................................... 54 Federal Energy Legislation ........................................................................................................... 54 Federal Regulation of Transmission Access ................................................................................. 55 Federal Policy on Cybersecurity ................................................................................................... 56 Environmental Issues .................................................................................................................... 57 Changing Laws and Requirements Generally ............................................................................... 59 Other Factors ................................................................................................................................. 60 138 of 280

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RATING ........................................................................................................................ ............................ 61 MUNICIPAL ADVISOR ........................................................................................................................... 61 UNDERWRITING .................................................................................................................. .................. 61 CONTINUING DISCLOSURE ................................................................................................................. 62 TAX MATTERS ........................................................................................................................................ 62 LITIGATION ............................................................................................................................................. 65 ELECTRIC SYSTEM FINANCIAL STATEMENTS .............................................................................. 65 APPROVAL OF LEGAL PROCEEDINGS .............................................................................................. 65 EXECUTION AND DELIVERY .............................................................................................................. 66

APPENDIX A – THE CITY OF GLENDALE ................................................................................... A-1 APPENDIX B – AUDITED FINANCIAL STATEMENTS OF THE CITY’S ELECTRIC SYSTEM FOR THE FISCAL YEAR ENDED JUNE 30, 2025 .............................. B-1 APPENDIX C – BOOK-ENTRY SYSTEM ....................................................................................... C-1 APPENDIX D – SUMMARY OF CERTAIN PROVISIONS OF THE INDENTURE OF TRUST ..................................................................................................................... D-1 APPENDIX E – FORM OF CONTINUING DISCLOSURE AGREEMENT ................................... E-1 APPENDIX F – PROPOSED FORM OF OPINION OF BOND COUNSEL ..................................... F-1 APPENDIX G – ELECTRIC SYSTEM DEBT SERVICE REQUIREMENTS ................................. G-1

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OFFICIAL STATEMENT
Relating to
$[PAR AMOUNT]*

CITY OF GLENDALE, CALIFORNIA
ELECTRIC REVENUE BONDS, 2026 REFUNDING SERIES

INTRODUCTION
This Introduction is subject in all respects to th e more complete information contained elsewhere in this Official Statement, and the offering of the 2026 Refunding Bonds to potential investors is made only by means of the entire Official Statement. Capitali zed terms used and not otherwise defined herein shall have the respective meanings assigned to them in the Indenture of Trust. See “APPENDIX D – SUMMARY OF CERTAIN PROVISIONS OF THE INDENTURE OF TRUST – Definitions” herein.

Purpose
The purpose of this Official Statement, which includes the cover page, inside cover page and Appendices hereto, is to set forth certain information in connection with the issuance and sale by the City of Glendale, California (the “City” or “Glendale”) of $[PAR AMOUNT]* aggregate principal amount of its Electric Revenue Bonds, 2026 Refunding Series (the “2026 Refunding Bonds”).

The 2026 Refunding Bonds are being issued to: (i) refund all or a portion of City’s outstanding Electric Revenue Bonds, 2016 Refunding Series (the “ 2016 Refunding Bonds”) and (iii) pay the costs of issuance of the 2026 Refunding Bonds, as more fully described herein. See “THE PROJECTS” herein.

See “PLAN OF REFUNDING” and “ESTIMATED SOURCES AND USES OF FUNDS” herein.

The 2026 Refunding Bonds will be being issued on a parity the Electric Revenue Bonds, 2024 Series (the “2024 Series Bonds”), the Electric Re venue Bonds, 2024 Refunding Series (the “2024 Refunding Bonds”), the Electric Revenue Bonds, 2024 Second Series (the “2024 Second Series Bonds”) and the Electric Revenue Bonds, 2025 Series (the “2025 Series Bonds”). The 2024 Series Bonds, the 2024 Refunding Bonds, the 2024 Second Series Bonds, th e 2025 Series Bonds and the 2026 Refunding Bonds and any bonds hereafter issued on a parity therewith are collectively referred to herein as the “Bonds.” Authority for Issuance
The 2026 Refunding Bonds are authorized and issu ed pursuant to the Charter of the City, as amended (the “Charter”), including Article XXVI th ereof, Ordinance No. [Ord. Number] adopted by the City Council of the City (the “City Council”) on [____] , 2026, and by an Indenture of Trust, dated as of February 1, 2000, by and between the City and Th e Bank of New York Mellon Trust Company, N.A., as successor trustee (the “Trustee”), as supplemented and amended, including as supplemented by the Twelfth Supplement to Indenture of Trust relating to the 2026 Refunding Bonds (the “Eleventh Supplemental Indenture”), each by and between the City and the Trustee (collectively, the “Indenture of Trust”).

* Preliminary, subject to change.
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The City
The City is a charter city of the State of Ca lifornia (the “State”), comprising approximately 31 square miles, in the County of Los Angeles (the “County”) in the eastern portion of the San Fernando Valley. The City is the fourth most populous city in the County, and borders on the city limits of the City of Los Angeles directly to the south. It also shares common boundaries with the City of Pasadena (“Pasadena”) on the east and the City of Burbank (“Bu rbank”) on the north and northwest. The City is seven miles from downtown Los Angeles, 15 miles from Los Angeles International Airport, 30 miles from Ontario International Airport and minutes from the Burbank-Glendale-Pasadena Airport. See “APPENDIX A – THE CITY OF GLENDALE” herein.

The City owns and operates its electric public utility (the “Electric System”), which was established by the Charter. The Electric System is managed and controlled by the power division of Glendale Water and Power (“Glendale Water and Power,” the “Department” or “GWP”) and supplies electricity to virtually all of the electric customers within the City limits. For the Fiscal Year ended June 30, 2025, the customer base of the Electric System was comprised of a pproximately 78,071 residential customers, 13,458 commercial and industrial customers, and 21 other (governmental) customers. The service area is approximately 31 square miles, with an estimated population of 192,212 as of January 1, 2025.

The Electric System’s 284 MW resource mix as of June 30, 2025 included 50.5 MW gross name plate capacity gas turbines and long-term purchase contracts (remote generation) from a variety of sources, including hydroelectric, coal and nuclear generating units. Although these resources are, and the resources upon completion of the Projects are expected to be, suffi cient to meet the City’s current daily loads, a portion of the Electric System’s energy supply is purchased on the wholesale hourly, daily and month-ahead spot markets. See “THE ELECTRIC SYSTEM” herein.

Security and Sources of Payment for the Bonds
The Bonds (including the 2026 Refunding Bonds) are an obligation of the City payable solely from the Electric Works Revenue Fund of the Department a nd certain other funds as provided in the Indenture of Trust. The 2026 Refunding Bonds will be secured by a pledge of and lien upon Net Income of the Electric System on a parity with the 2024 Series Bonds, the 2024 Refunding Bonds, the 2024 Second Series Bonds, the 2025 Series Bonds and any other parity ob ligations of the Electric System payable from Net Income of the Electric System issued from tim e to time. See “SECURITY AND SOURCES OF PAYMENT FOR THE BONDS” herein.

The general fund of the City is not liable for the payment of any Bond, any premium thereon upon redemption prior to maturity or interest thereo n, nor is the credit or taxing power of the City pledged for the payment of any Bond, any premiu m thereon upon redemption prior to maturity or interest thereon. The Owner of any Bond shall not co mpel the exercise of the taxing power by the City or the forfeiture of any of its property. The principal of and interest on the Bonds and any premium upon the redemption of any thereof prior to maturity are not a debt of the City nor a legal or equitable pledge, charge, lien or encumbrance upon any of its property or upon any of its income, receipts or revenues, except the Net Income and certain other funds that are pledged pursuant to the Indenture of Trust to the payment of the Bonds, interest thereon and any premium upon redemption.

Option to Obtain Bond Insurance
Under the Notice Inviting Bids dated [____], 2026 (the “Notice Inviting Bids”) pursuant to which the 2026 Refunding Bonds will be sold, the City wi ll accept bids which are based upon the issuance of a municipal bond insurance policy for some or all of the maturities of the 2026 Refunding Bonds. Payment 141 of 280

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of any insurance premium and satisfaction of any conditions to the issuance of a municipal bond insurance policy shall be the sole responsibility of the winning bidder under the Notice Inviting Bids. No assurance can be given as to whether a municipal bond insurance policy will be obtained for 2026 Refunding Bonds.

If a municipal bond insurance policy is obtained for the 2026 Refunding Bonds, such policy would guarantee the scheduled payment of the principal of and interest on only the specified maturities of the 2026 Refunding Bonds. If a municipal bond insurance po licy is obtained for the 2026 Refunding Bonds, information regarding the municipal bond insurance polic y, the specified maturities to be insured, and the municipal bond insurer will be included in the final Official Statement.

Parity Bonds and Obligations
There are currently outstanding $161,920,000 aggregate principal amount of 2024 Series Bonds, $47,050,000 aggregate principal amount of 2024 Ref unding Bonds, $162,825,000 aggregate principal amount of 2024 Second Series Bonds and $166,915,000 aggregate principal amount of 2025 Series Bonds, all secured on a parity by Net Income under the Indenture of Trust.

The City may issue additional Bonds and Parity Ob ligations under the Indenture of Trust. See “SECURITY AND SOURCES OF PAYMENT FOR THE BONDS – Additional Bonds” herein.

Parity Reserve Fund
The City has established the Parity Reserve Fund. The Parity Reserve Fund will be pledged to and may be used solely for payment of debt service on the Bonds and any Parity Obligations secured thereby in the event that money in the Parity Obligation Payment Fund or any comparable fund established for the payment of principal and interest on the Parity Oblig ations secured thereby is insufficient therefor. See “SECURITY AND SOURCES OF PAYMENT FOR THE BONDS – Parity Reserve Fund” herein.

Rate Covenant
The City has covenanted in the Indenture of Trust that the rates for services furnished by the Electric System will be set so as to provide Gross Revenues for each Fiscal Year at least sufficient to pay the principal of and interest on the Bonds and all Par ity Obligations for such Fiscal Year and all other obligations and indebtedness payable from the Electric Works Revenue Fund for such Fiscal Year or from any fund derived therefrom, and also the Maintenan ce and Operating Expenses for such Fiscal Year, and shall be set so that the Net Income of the Electric System for each Fiscal Year will be at least equal to 1.10 times the amount necessary to pay principal and interest as the same become due on all Bonds and Parity Obligations for such Fiscal Year. Gross Revenues for such purposes includes amounts on deposit in certain unrestricted funds or accounts of the City. See “SECURITY AND SOURCES OF PAYMENT FOR THE BONDS – General” and “– Rate Covenant” herein.

Continuing Disclosure
The City will covenant for the benefit of the Owners and beneficial owners of the 2026 Refunding Bonds to provide certain financial information and operating data relating to the Electric System and to provide notices of the occurrence of certain enumerated events. See “CONTINUING DISCLOSURE” and “APPENDIX E – FORM OF CONTINUING DISCLOSURE AGREEMENT” herein.

Other Matters
This Official Statement speaks only as of its date, and the information and expressions of opinions contained herein are subject to change without notice, and neither delivery of this Official Statement nor 142 of 280

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any sale made hereunder shall, under any circumstances, create any implication that there has been no change in the affairs of the City (including the El ectric System) since the date hereof. This Official Statement, including any supplement or amendment here to, is intended to be de posited with one or more repositories. Forward looking statements in this Offi cial Statement are subject to risks and uncertainties, including those relating to competition and electric i ndustry restructuring, and the economy of the City’s service area.

This Official Statement includes summaries of the terms of the 2026 Refunding Bonds, the Indenture of Trust, the Continuing Disclosure Agreement and certain contracts and other arrangements for the supply of capacity and energy. The summaries of and references to all agreements, documents, statutes, reports and other instruments referred to herein do not purport to be complete, comprehensive or definitive, and each such summary and reference is qualified in its entirety by reference to each such agreement, document, statute, report or instrument. The capitaliz ation of any word not conventionally capitalized, or otherwise defined herein, indicates that such word is defined in a particular agreement or other document and, as used herein, has the meaning given to it in such agreement or document.

Copies of the Indenture of Trust and the Cont inuing Disclosure Agreem ent are available for inspection at the offices of the City and will be available upon request and payment of any applicable costs from the Trustee.

PLAN OF REFUNDING
The 2026 Refunding Bonds are being issued to: (i) refund all or a portion of the outstanding 2016 Refunding Bonds and (ii) pay the costs of issuance of the 2026 Refunding Bonds. The City will select the amounts and maturities of the 2016 Refunding Bonds to be refunded (the “Refunded Bonds”) based on market conditions, bond structure, and other factors. Se lection of such bonds, if any, to be refunded is at the sole and absolute discretion of the City.
2016 Refunding Bonds
Maturity Date
(February 1)
Principal
Amount
Interest
Rate
CUSIP
Number†

2027 $ 4,135,000 5.00% 378406NF5
2028 4,320,000 5.00 378406NG3
2029 4,520,000 5.00 378406NH1
2030 4,715,000 5.00 378406NJ7
2031 2,700,000 5.00 378406NK4
2032 2,810,000 5.00 378406NL2
2033 2,950,000 5.00 378406NM0
2034 3,085,000 5.00 378406NN8
2035 3,230,000 5.00 378406NP3
2038 10,640,000 5.00 378406NQ1

_________________
† CUSIP® is a registered trademark of American Bankers
Association. CUSIP® data herein are provided by CUSIP Global Services, managed by FactSet Research Systems Inc. on behalf of American Bankers Association. None of the City, its Municipal Advisor or the Underwriters is responsible for the selection or correctness of the CUSIP numbers set forth herein.
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The refunding will be effected by redeeming the Refunded Bonds on the date of issuance of the 2026 Refunding Bonds.

ESTIMATED SOURCES AND USES OF FUNDS
The estimated sources and uses of funds in c onnection with the 2026 Refunding Bonds are as follows:

Sources:

Principal Amount of 2026 Refunding Bonds $
[Net] Original Issue Premium
Total Sources $
Uses:

Deposit to Escrow Fund $
Cost of Issuance
(1)
Total Uses $

(1) Includes Bond and Disclosure Counsel fees, Trustee fees, Municipal Advisor fees, rating agency fees, printing costs, Underwriter’s discount and other miscellaneous expenses.

ELECTRIC SYSTEM DEBT SERVICE REQUIREMENTS
The debt service requirements of the Electric System are set forth in Appendix G. See “APPENDIX G – ELECTRIC SYSTEM DEBT SERVICE REQUIREMENTS” herein.

THE 2026 REFUNDING BONDS
General
The 2026 Refunding Bonds will be dated their date of delivery and will bear interest from such date at the rates per annum and will mature on February 1 in the years set forth on the inside cover page of this Official Statement. Interest on the 2026 Refunding Bonds will be payable semiannually on February 1 and August 1, commencing August 1, 2026, and will be calculated on the basis of a 360-day year comprised of twelve 30-day months.

Interest with respect to any 2026 Refunding Bond shall be payable from the Interest Payment Date next preceding the date of authenti cation thereof unless such date of au thentication is during the period from the close of business on the fifteenth day of the month immediately preceding an Interest Payment Date (a “Record Date”) to and including the next succeeding Interest Payment Date, in which case interest with respect thereto shall be payable from such Interest Payment Date, or unless such date of authentication is prior to the Record Date for th e first Interest Payment Date, in wh ich case interest with respect thereto shall be payable from the date of delivery of such 20 26 Refunding Bond; provided, however, that if at the time of authentication of any 2026 Refunding Bond, interest with respect thereto is in default, interest with respect thereto shall be payable from the Interest Payment Date to which interest has previously been paid.

Payment of interest with respect to any 2026 Refunding Bond shall be made to the person appearing on the Bond Register as the Owner thereof as of the Record Date, such interest to be paid by check or draft of the Trustee, payable in lawful money of the United States of America and mailed on the Interest Payment Date to such Owner at his or her address as it appears on the Bond Register; provided, that in the case of an Owner of $1,000,000 or more in aggregate prin cipal amount of 2026 Refu nding Bonds, upon written request of such Owner delivered to the Trustee not l ess than 20 days prior to any Interest Payment Date, 144 of 280

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such interest shall be paid in immediately availabl e funds by wire transfer to an account specified by the Owner in such written request on the following Interest Payment Date.

The 2026 Refunding Bonds are being issued in fully registered form, and when issued, will be registered in the name of Cede & Co., as nominee of The Depository Trust Company, New York, New York (“DTC”). So long as Cede & Co. is the registered owner of the 2026 Refunding Bonds, references herein to the owners or registered owners shall mean Cede & Co., and not the beneficial owners of the 2026 Refunding Bonds. See “APPENDIX C – BOOK–ENTRY SYSTEM” herein.

Redemption
Optional Redemption. The 2026 Refunding Bonds maturing on or prior to February 1, 20[__] are not subject to redemption prior to maturity. The 2026 Refunding Bonds maturing on and after February 1, 20[__] are subject to redemption prior to maturity, at the option of the City, as a whole or in part, on February 1, 20[__] or on any date thereafter, in any order of maturity as directed in writing by the City and by lot within a maturity, from funds derived by the City from any legal source, at a redemption price equal to 100% of the principal amount of the 2026 Refunding Bonds to be redeemed, together with accrued interest to the redemption date.
[Remainder of page intentionally left blank.]
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Mandatory Sinking Account Redemption. The 2026 Refunding Bonds listed below are subject to mandatory sinking account redemption prior to maturity , in part, at a redemption price of one hundred percent (100%) of the principal amount thereof plus interest accrued to the redemption date, from mandatory sinking account payments set aside in the Parity Obligation Payment Fund for such purpose, in the following principal amounts and on the dates set forth below:
2026 Refunding Bonds Maturing on February 1, 20___

Mandatory Sinking
Account Payment Date
(February 1)
Mandatory Sinking
Account Payment
$

* Maturity.

Redemption Procedures
Notice of Redemption. Notice of redemption shall be mailed, postage prepaid, to (i) the registered Owners of the Bonds and (ii) one or more information services, in each case at least 30 days but not more than 60 days prior to the redemption date. Notice of redemption shall also be given by telecopy, certified, registered or overnight mail to certain securities de positories one day prior to the mailing of notice of redemption to the Owners and the information services. The notice of redemption shall (a) state the redemption date; (b) state the distinguishing designation of the Bonds to which such notice relates; (c) state the redemption price; (d) state the numbers and the date or dates of maturity of the Bonds to be redeemed, provided, however, that whenever any call includes a ll of the Outstanding Bonds subject to call, the numbers of the Bonds need not be stated; (e) state the place where the redemption will be made; and (f) give notice that further interest on such Bonds will not accrue after the designated redemption date or dates.

The actual receipt by the Owner of any Bond of notice of such redemption shall not be a condition precedent to the redemption, and failure to receive such notice shall not affect the validity of the proceedings for the redemption of such Bonds or the cessation of interest on the redemption date.

So long as the DTC book-entry system is used for the Bonds, the Trustee will give any notice of redemption required to be given to the registered Owners of the Bonds only to DTC.

Effect of Redemption. When notice of redemption has been given, and when the amount necessary for the redemption of the Bonds called for redemption (p rincipal and any premium) is set aside for that purpose, the Bonds designated for redemption shall b ecome due and payable on the redemption date, and upon presentation and surrender of the Bonds, at the place specified in the notice of redemption, such Bonds shall be redeemed and paid at said redemption price, and no interest shall accrue on such Bonds called for redemption after the redemption date.

SECURITY AND SOURCES OF PAYMENT FOR THE BONDS
General
The Bonds are an obligation of the City payable solely from the Electric Works Revenue Fund of the Department and certain other funds as provided in the Indenture of Trust. The Bonds are secured by a pledge of and lien upon Net Income of the Electric System on a parity with other obligations of the Electric 146 of 280

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System payable from Net Income of the Electric System that may be issued from time to time. The Bonds are not secured by or payable from revenues of the City’s water system (the “Water System”).

The general fund of the City is not liable for the payment of any Bond, any premium thereon upon redemption prior to maturity or interest thereon, nor is the credit or taxing power of the City pledged for the payment of any Bond, any premium thereon upon redemption prior to maturity or interest thereon. The Owner of any Bond shall not compel the exercise of th e taxing power by the City or the forfeiture of any of its property. The principal of and interest on the Bonds and any premium upon the redemption of any thereof prior to maturity are not a debt of the C ity nor a legal or equitable pledge, charge, lien or encumbrance upon any of its property or upon any of its income , receipts or revenues, except the Net Income and certain other funds that are pledged pursuan t to the Indenture of Trust to the payment of the Bonds, interest thereon and any premium upon redemption.

Certain of the City’s obligations to joint power s agencies, including obligations with respect to bonds issued by such joint powers agencies, are payable by the City from the Electric Works Revenue Fund as Maintenance and Operating Expenses, prior to the payment of the Bonds and any Parity Obligations. “Net Income” is defined in the Indenture of Trust as Gross Revenues less Maintenance and Operating Expenses. “Gross Revenues” means all reve nues, charges, income and receipts derived by the Department from the operation of the Electric System or arising from the Electric System (including all revenues, charges, income and receipts received by the Department from the services, facilities, and distribution of electric energy by the Department), including, but not limited to (i) income from investments and (ii) only for the purposes of de termining compliance with the rate covenant in th e Indenture of Trust, the amounts on deposit in any other unrestricted funds of the Electric System designated by the City Council by resolution (or by approval of a budget of the Electric Works Revenue Fund providing for such transfer) and available for the purpose of paying Maintenance and Operating Expenses and/or debt service on the Bonds and/or any Parity Obligations, but excepting th erefrom (a) all refundable charges and deposits to secure electric service and (b) any charges collected by any person to amortize or otherwise relating to the payment of the uneconomic portion of costs associated with assets and obligations (“stranded costs”) of the Electric System or of any joint powers agency in which the City participates which the City has dedicated solely to the payment of obligations other than the Bonds or any Parity Obligations then outstanding, the payments of which obligations will be applied solely to or pledged solely to or otherwise set aside solely for the reduction or retirement of outstanding obligations of the City or any joint powers agency in which the City participates relating to such “stranded costs” of the City or of any such joint powers agency to the extent such “stranded costs” are attributable to, or the responsibility of, the City. “Maintenance and Operating Expenses” is defined in the Indenture of Trust to mean the amount required to pay the reasonable expenses of management, repair and other costs of the nature of costs which have historically and customarily been accounted fo r as such, necessary to operate, maintain and preserve the Electric System in good repair and working order, including but not limited to, the cost of supply and transmission of electric energy under long-term contracts or otherwise and the expenses of conducting the power division, but excluding depreciation. “Maintenance and Operating Expenses” shall (i) include all amounts required to be paid by the City under contract with a joint powers agency for purchase of capacity, energy, transmission capability or any other commod ities or services in connection with the foregoing, which contract requires payments by the City to be made under the Indenture of Trust to be treated as Maintenance and Operating Expenses and (ii) exclude during a Fiscal Year any Maintenance and Operating Expenses paid during such Fiscal Year (or expected to be paid during such Fiscal Year, for the purpose of determining compliance with the rate covenant in the Indenture of Trust) from any fund or account that is not a fund or account established pursuant to the Indenture of Trust and that is not pledged to the payment of the Bonds and Parity Obligations. “Mainten ance and Operating Expenses” shall not include any 147 of 280

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payments from Gross Revenues to the City for payments-in-lieu of taxes and any transfers to the City’s general fund.

Rate Covenant
So long as any of the Bonds are Outstanding, the City covenants with the Owners of the Bonds that the rates to be charged for services furnished by the Electric System shall be set so as to provide Gross Revenues for each Fiscal Year at least sufficient to pay, as the same become due, the principal of and interest on the Bonds and Parity Obligations for such Fiscal Year and all other obligations and indebtedness payable from the Electric Works Revenue Fund for such Fiscal Year (including the payment of any amounts owing to the provider of any surety bond, insurance po licy or letter of credit with respect to the Bonds or any Parity Obligations, which amounts are payable fr om the Electric Works Revenue Fund) or from any fund derived therefrom, and also the Maintenance and Operating Expenses for such Fiscal Year, and shall be so set such that the Net Income of the Electric System for each Fiscal Year shall be at least equal to 1.10 times the amount necessary to pay principal and interest as the same become due, on all Bonds and Parity Obligations for such Fiscal Year. See “APPENDIX D – SUMMARY OF CERTAIN PROVISIONS OF THE INDENTURE OF TRUST – Definitions – Gross Revenues” and “– Covenants – Rates and Charges.” Funds and Accounts; Electric Works Revenue Fund
The Charter establishes the Electric Works Revenue Fund and permits the establishment of such funds as the City Council may deem necessary to f acilitate the issuance and sale of Bonds or for the protection or security of the Owners of the Bonds.

Under the provisions of the Charter, all Gross Revenues shall be deposited in the Electric Works Revenue Fund. The Charter further provides that a ll disbursements (except disbursements payable from the electric works depreciation fund) provided in the Department’s budget on account of the electric works shall be paid from the Electric Works Revenue Fund.

Any Gross Revenues remaining in the Electric Wo rks Revenue Fund at the end of a Fiscal Year, except as otherwise provided in a Supplemental Indenture of Trust, shall be held free and clear of the Indenture of Trust by the City, and the City may use and apply such remaining amount for any lawful purpose of the City, including, but not limited to, th e redemption of Bonds or Parity Obligations upon the terms and conditions set forth in the Supplemental Indenture of Trust or other instrument authorizing such Bonds or Parity Obligations, the purchase of Bonds or Parity Obligations as and when and at such prices as the City may determine, and the payment of any subordinate obligations in accordance with the instruments authorizing such subordinate obligations; provided, however, that any such remaining Gross Revenues shall be transferred to the Glendale Water and Power Surplus Fund established pursuant to Section 22 of Article XI of the Charter if and to the extent require d by the Charter. In addition, the City Council, as required by the Charter, transfers moneys to the C ity’s general fund from the Glendale Water and Power Surplus Fund each year. See “THE ELECTRIC SYSTEM – Transfers to the General Fund of the City.” Parity Reserve Fund
The Indenture of Trust establishes the Parity Reserve Fund to be held by the Trustee. The Parity Reserve Fund shall be maintained in an amount equal to the Reserve Fund Requirement, less any moneys on deposit in an unrestricted fund or account of the El ectric System as permitted in the definition of “Reserve Fund Requirement.” “Reserve Fund Requirement” is defined in the Indenture of Trust to mean, as of any date of determination and excluding ther efrom any Bonds or Parity Obligations for which no reserve fund is to be maintained or for which a separate reserve fund is to be maintained, the least of (a) ten percent (10%) of the issue price of each Series of Bonds and Parity Obligations to be secured by the Parity 148 of 280

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Reserve Fund as determined under the Internal Reve nue Code of 1986, (b) the maximum Annual Debt Service for the current or any subsequent year on al l Bonds and Parity Obligations to be secured by the Parity Reserve Fund, or (c) one hundred twenty-five percent (125%) of the Average Annual Debt Service on all Bonds and Parity Obligations to be secured by the Parity Reserve Fund, all as computed and determined by the City; provided, that with respect to such least amount, up to fifty percent (50%) of such least amount may be held in any unrestricted fund or a ccount of the Electric System that is not pledged to secure the payment of the Bonds and any Parity Obliga tions; provided further, that such requirement (or any portion thereof) may be provided by the City delivering to the Trustee for credit to the Parity Reserve Fund, one or more policies of municipal bond insurance or surety bonds issued by a municipal bond insurer if the obligations insured by such insurer have ratings at the time of issuance of such policy or surety bond equal to “Aaa” assigned by Moody’s Investors Service and “AAA” assigned by Standard & Poor’s (and if such insurance company is rated by A.M. Best & Company, such insurance company is rated in the highest rating category by A.M. Best & Company) or by a letter of credit issued by a bank or other institution if the obligations issued by such bank or ot her institution have ratings at the time of issuance of such letter of credit equal to “Aa” or higher assi gned by Moody’s Investors Servi ce or “AA” or higher assigned by Standard & Poor’s.

At the time of issuance of the 2026 Refunding Bonds, the Reserve Fund Requirement will be satisfied to the maximum extent permitted in the de finition of “Reserve Fund Requirement” (i.e., 50% of one hundred twenty-five percent of the Average Annual Debt Service on the Bonds (which, upon issuance of the 2026 Refunding Bonds, will consist of the 2024 Series Bonds, the 2024 Refunding Bonds, the 2024 Second Series Bonds, the 2025 Series Bonds and the 2026 Refunding Bonds) and any Parity Obligations (of which none will exist at the time of issuance of the 2026 Refunding Bonds)) by moneys held in an unrestricted fund or account of the Electric System that is not pledged to secure the payment of the Bonds and any Parity Obligations. Moneys held in such unrestricted fund or account may be used for many purposes, and are not pledged for the payment of pr incipal of and interest on the Bonds and Parity Obligations secured by the Parity Reserve Fund. At the time of issuance of the 2026 Refunding Bonds, the Reserve Fund Requirement for the Bonds will be $[______]*. At the time of issuance of the 2026 Refunding Bonds, approximately $[______] * of such amount will be invested in investment securities held by the Trustee and approximately $[______]* will be held in such unrestricted funds or accounts.

The Parity Reserve Fund is pledged to, and shall be used solely for, the purpose of paying the principal of and interest on the Bonds and Parity Obligations secured by the Parity Reserve Fund (and only those Bonds and Parity Obligations secured by the Par ity Reserve Fund) in the event that money in the Parity Obligation Payment Fund or any comparable fund established for the payment of principal and interest on the Parity Obligations secured thereby is insufficient therefor, and for that purpose money shall be transferred from the Parity Reserve Fund to the Pa rity Obligation Payment Fund. Whenever money is transferred from the Parity Reserve Fund, an equal amount of money shall be transferred to the Parity Reserve Fund from the first available money in the Electric Works Revenue Fund (after the payment of Maintenance and Operating Expenses and after transfers to the Parity Obligation Payment Fund) if required to bring the balance on deposit in the Parity Reserve Fund up to the Reserve Fund Requirement.

Additional Bonds
The Indenture of Trust provides that (except for bonds issued under Article XXVI of the Charter, or otherwise, to refund Bonds or Parity Obligations, payable from the Electric Works Revenue Fund, which may be issued at any time without meeting the test set forth below) no additional indebtedness of the City payable out of the Electric Works Revenue Fund on a pa rity with the Bonds and any Parity Obligations

* Preliminary, subject to change.
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(collectively referred to in the Indenture of Trust as “parity indebtedness”) shall be created or incurred unless:
(1) The Net Income during any twelve (12) consecutive calendar months out of the immediately preceding eighteen (18) calendar month period, plus, at the option of the City, any or all of the items designated as (a) and (b) below, shall have amounted to at least one hundred ten percent (110%) of the aggregate of the (i) amount of interest to accrue and (ii) payments of principal required to be made in the Fiscal Year ending thereafter in which such aggregate will be the greatest on all B onds and such Parity Obligations to be Outstanding immediately subsequent to the incurring of such additional parity indebtedness, as certified by a Certificate of the City; or (2) The projected Net Income during the first co mplete Fiscal Year following issuance of such parity indebtedness when the improvements to the Electric System financed with the proceeds of the parity indebtedness shall be in operation, plus, at the option of the City, any or all of the items designated as (a) and (b) below, shall have amounted to at least one hundred ten percent (110%) of the aggregate of the (i) amount of interest to accrue and (ii) payments of principal required to be made in the Fiscal Year ending thereafter in which such aggregate will be the greatest on all B onds and such Parity Obligations to be Outstanding immediately subsequent to the incurring of such additional parity indebtedness, as certified by a Certificate of the City.

The items any or all of which may be added to su ch Net Income for the purpose of meeting either of the requirements set forth in clauses (1) or (2) above are the following:
(a) An allowance for any increase in Net Income (including, without limitation, a reduction in Maintenance and Operating Expenses) which may arise from any additions to or extensions or improvements of the Electric System to be made or acquired with the proceeds of such additional parity indebtedness or with the pr oceeds of bonds previously issued, and also for Net Income from any such additions, exte nsions or improvements which have been made or acquired with moneys from any source but which, during all or any part of such Fiscal Year or such twelve (12) consecutive calendar month period out of the immediately preceding eighteen (18) calendar month period, were not in service, all in an amount equal to the estimated additional average annual Net Income (or estimated average annual reduction in Maintenance and Operating Expe nses) to be derived from such additions, extensions or improvements for the first th irty-six (36) month period in which each addition, extension or improvement is to be in operation, all as shown by the Certificate of the City.
(b) An allowance for earnings arising from any in crease in the charges made for the use of the Electric System which has become effective prior to the incurring of such additional parity indebtedness but which, during all or any part of such Fiscal Year or such twelve (12) consecutive calendar month period out of the immediately preceding eighteen (18) calendar month period, was not in effect, in an amount equal to the amount by which the Net Income would have been increased if such increase in charges had been in effect during the whole of such Fiscal Year or such twelve (12) consecutive calendar mont h period out of the immediately preceding eighteen (18) calendar month period, as shown by the Certificate of the City.

Nothing in the Indenture of Trust limits the ability of the City to issue or incur obligations that are junior and subordinate in payment to the payment of the principal, premium, interest and reserve fund 150 of 280

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requirements for the Bonds and all Parity Obligations and which subordinate obligations are payable as to principal, premium, interest and reserve fund requirem ents, if any, only out of Net Income after the prior (i) payment of all amounts then due and required to be paid or set aside under the Indenture of Trust from Net Income for principal, premium, interest and re serve fund requirements for the Bonds and all Parity Obligations, as the same become due and payable and at the times and in the manner as required in the Indenture of Trust or any documents providing for th e issuance or incurrence of Parity Obligations and (ii) transfer to the Rebate Fund at the times and in the manner as required in the Indenture of Trust.

Investment of Funds
All moneys held in the funds and accounts establis hed pursuant to the Indenture of Trust will be deposited or invested in Investment Securities, which include, among other things, any permissible investments of funds of the City as stated in its curre nt Investment Policy and to the extent then permitted by law.

Gross Revenues are invested under the direction of the Treasurer of the City. The Treasurer manages the investment portfolio of the City and is charged to pursue the primary objectives of preservation of principal and liquidity, while attaining a yield commensurate with the cash flow needs and the investment risk constraints of the portfolio. As a result, the i nvestment portfolio of the C ity has historically been weighted heavily in obligations of the U.S. Treasury and obligations of U.S. agencies and Government- sponsored enterprises. Investments in the City portfolio are typically held to maturity to minimize market risk.

The money management function and the fund acc ounting functions of the City’s investment portfolio are separate functions. On a monthly basis, the Treasurer renders a report of investment activity to the City Council and the City Manager.

The City’s current Investment Policy provides that the City may invest in the following types of investments: U.S. Treasuries; obligations of federa l agencies; bankers acceptances; commercial paper; FDIC insured (or collateralized) certificates of de posit; negotiable certificates of deposit; medium term notes; and the State of California Local Agency Investment Fund.

All investments, including the Investment Securities and those authorized by law from time to time for investments by public agencies, contain a certain degree of risk. Such risks include, but are not limited to, market risk, credit risk and reinvestment risk.

The City’s Investment Policy may be changed at any time by the City Council (subject to the State law provisions relating to authorized investments). There can be no assurance, therefore, that the State law and/or the Investment Policy will not be amended in th e future to allow for investments that are currently not permitted under State law or the Investment Policy or that the objectives of the City with respect to investments or its investment holdings at any point in time will not change.

Limitations on Remedies; Legislative and Other Changes
The rights of the Owners of the Bonds are subject to the limitations on legal remedies against cities and other public agencies in the State. Additionally, enforceability of the rights and remedies of the Owners of the Bonds, and the obligations incurred by the City, may become subject to various limitations. Further, the rights of Owners of the Bonds are also subject to future legislative changes, voter initiatives, referenda and charter amendments, among other things. See “CERTAIN RISK FACTORS” herein. 151 of 280

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GLENDALE WATER AND POWER
General Description
The City is a charter city of the State. Th e City Charter provides for the creation of major departments, including the Department which is r esponsible for construction, maintenance and operation of all public utilities owned or operated by the City, in cluding the Electric System and a Water System.

The General Manager of Water and Power administer s the Department under the authority of the City Manager and is charged with the operation of both the Electric System and the Water System.

The Department provides water and electricity to nearly all the residential, commercial and industrial customers within the City limits. The f unds and accounts of the Electric System and the Water System are held separately, and the funds and accounts of one system are not pledged to the other system’s obligations.

Management of the Department
The City Council has established the Glendale Water and Power Commission (the “Commission”), which is an advisory commission with the power and dut y to make recommendations to the City Council:
concerning (i) the operations and facilities of Glenda le Water and Power and the need for changes or additions in its plant or in its operation; (ii) ways and means of financing changes and additions to the plant or the methods of operation; and (iii) changes of administrative policy which the commission deems desirable in order that the Department may better serve the people of Glendale. In addition, the Commission serves as an appellate board with respect to cases concerning energy and water meter tampering and water backflow prevention devices. The Commission may also exercise such other powers and duties as may be prescribed by ordinance not inconsistent with the City Charter.

The Electric System is under the direct manageme nt of the General Mana ger of Glendale Water and Power. Senior Management of the Department includes:

Scott K. Mellon, P.E. General Manager of Glendale Water and Power. Mr. Mellon began his engineering career in aerospace developing electri cal subsystems for multiple aircraft such as reusable launch vehicles, stealth drones, and li ghter-than-air platforms. Inspired by what he learned about software-based control systems and the potential for such systems in a smarter future electric grid, he joined Burbank Water and Po wer (BWP) in 2001. Mr. Mellon spent most of his tenure at BWP as a Principal Electrical Engi neer and Project Manager in the Power Supply division, most recently managing an Advanced Distribution Management System implementation.

Joining the Department in September 2022 as the Assistant General Manager – Power Management, Mr. Mellon brings significant expe rience working with 24-hour operations staff maintaining grid stability, implementing utility -scale energy projects, an d overseeing renewable energy contract negotiations which are critical to meeting Renewable Portfolio Standards and City Council goals for carbon neutrality. Mr. Me llon was appointed General Manager of the Department in June 2025. Mr. Mellon has a Bachelor of Science in Electrical Engineering (BSEE) from University of California, Irvine where he earned a Specialization in Power System Design and was a team lead on a Hybr id Electric Vehicle Project co mpetition. He is a licensed Professional Engineer in the St ate of California (since 2001) and holds a Leadership certificate from Woodbury University.

Chisom Obegolu, Chief Assistant General Manager, Water Services . Chisom Obegolu is the Chief Assistant General Manager of Water Services. He is responsible for managing the water operational 152 of 280

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and business functions, which includes system operations, planning and water resources management. He oversees Water Engineering, Water Operation, Water Distribution, and Water Quality. Among his primary duties is to implement the water strategic plan and initiatives. Mr. Obegolu previously worked for Glendora Water where he served as the Assistant Director of Water Services. During his tenure at Glendora, he led a city-wide comprehensive water infrastructure assessment including an integrated water resources master plan and cost of service study. He also worked for The Metropolitan Water District of Southern California, where he served as the Lead Engineer on several critical capital improvement projects, and a number of infrastructure reliability initiatives. Mr. Obegolu is a registered Civil Engineer in the State of California and earned a bachelor’s degree in Civil Engineering fr om The University of Texas at San Antonio and a master’s degree in Public Administration from California State University, Northridge.

Daniel Scorza, Chief Assistant Ge neral Manager, Electric Services . Mr. Daniel Scorza joined the Department in 2019 as the Chief Assistant Gene ral Manager – Electric Services. He oversees the Electrical Engineering and the Electrical Transmis sion & Distribution Operations and Construction sections. Mr. Scorza previously worked for LADWP for 36 years, and during his last 10 years there, he served LADWP as a Power Engineering Manager. He comes to the Department with a wealth of experience in areas such as utility engineering and system studi es, operations, maintenance, corporate finance, corporate training, legislative matters, and engineerin g services contracts. Mr. Scorza has a Bachelors in Science degree in Electrical Engineering (electroni cs) from California State University – Los Angeles (“CSULA”), a Masters in Electrical Engineering degree (telecommunications/computer systems) from CSULA, a Masters in Electrical Engineering degree w ith an emphasis in Power Systems from University of Southern California (USC), and a Master’s in Business Administration from the USC. Mr. Scorza is a registered Professional Electrical Engineer in the State of California.

Adrine Isayan, Assistant General Manager, Utility Finance and Risk Management. Mrs. Isayan joined GWP management in February 2024. She was prev iously the Assistant Director of Finance for the City. She has 26 years of experience working for the City’s Finance Department. Throughout her career, she has worked in various capacities within the Finance Department, with the majority of her experience being in the City’s Budget, Accounts Payable, and Payroll sections. Mrs. Isayan has significant experience in the preparation of financial forecasting and reporti ng. She has a dual Bachelor’s degree in Information Systems and in Finance, both from California State University, Northridge.

Glendale Water and Power Governance
The City Council acts as the Board of Directors of the Department. The City Council consists of five members, who serve four year terms. Elections are held every two years, with three members up for election in one cycle and two members up for election in the next cycle. The mayor is chosen annually from among the council members to serve as mayor. The City Council’s authority consists of, but is not limited to, establishing rates, approving budgets and approving the hiring of senior management.

The current members of the City Council and their terms are:

Current Term Began
Current Term Expires
Ara Najarian, Mayor March 2022 April 2026
Ardy Kassakhian, Councilmember April 2024 June 2028
Daniel Brotman, Councilmember July 2022 June 2026
Elen Asatryan, Councilmember July 2022 June 2026
Vartan Gharpetian, Councilmember April 2024 April 2028
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Employees of Glendale Water and Power
For the Fiscal Year ended June 30, 2025, the Department budgeted for approximately 328 full-time employees. Most Electric System employees are represented by the Glendale City Employees Association (“GCEA”), the International Brotherhood of Electrical Workers (“IBEW”) and the Glendale Management Association (“GMA”) in all matters pertaining to wages, benefits and working conditions. The GCEA and the GMA each entered into a memorandum of understa nding with the City that will expire on June 30, 2027. Glendale has recognized Local 18 of IBEW as th e exclusive representative of approximately 121 of the 254 full-time Electric System employees. Th e contract with IBEW, which was approved in January 2024, expires on July 31, 2027.

Pension Plan
The Electric System’s permanent employees are a ll covered by the California Public Employees Retirement System (“CalPERS”) with respect to pension benefits. Pension costs are funded by bi-weekly contributions to CalPERS by the City. The City fully funded its annual required contributions. Department employees are part of the City’s miscellaneous pension plan. Measured as of June 30, 2024 (the most recent actuarial information available), the City’s actuarial value of the City’s miscellaneous plan assets at June 30, 2024 was approximately $1.1 billion, the actuarial accrued liability was approximately $1.4 billion and the unfunded actuarial accrued liability was approximately $338 million. CalPERS do es not provide data to participating organizations in such a manner so as to facilitate separate disclosure for the Department’s share of the actuarial computed pension benefit ob ligation, the plan’s net assets available for benefit obligation and the plan’s net assets available for benefits. As of June 30, 2025, the Electric System reported a liability of approximately $67.3 million for its appr oximately 20% proportionate share of the City’s net pension liability under the miscellaneous pension plan.

Post-Retirement Health Benefits
The Governmental Accounting Standards Board (“GASB”) in April 2004 issued Statement No. 43, which requires state and local governmental employers to determine, on an actuarial basis, the total liability of post-employment benefits other than pension benefits (known as ot her post-employment benefits or “OPEB”), including healthcare and life insurance expe nses and related liabilities, and an annual required contribution to fund such liabilities. In June 2004, GASB issued Statement No. 45, which requires state and local governmental employers to fund the actuarially determined annual required contribution (“ARC”) for its OPEB or record the entire amount of the unfunded liability of its OPEB in its financial statements.

The City provides Medicare Part A reimbursements to retirees and their spouses if the retirees were hired in the City prior to April 1, 1986, and ineligible for premium-free Medicare Part A.

The City also provides a cash subsidy for medica l insurance premiums to three groups of retirees:
(1) retirees who retired before July 1, 2001, and the length of the subsidy was pre-determined based on the retirees’ sick leave balances at the time of retirement. The subsidy is capped by the actual premium, and the unreduced city-paid amount continues to surviving spouses if the retirees die prior to the pre-determined payment period; (2) retirees who retired before June 1, 2016 with a minimum of 10 years of City service, enroll in a City sponsored medical plan and meet the annual income requirement. The eligibility and subsidy amount are evaluated on an annual basis. This is a lifetime subsidy for the eligible retirees except it will discontinue at age 65 for the retirees with enhan ced pension benefits. The benefit will continue to surviving spouses, if applicable; (3) the surviving spouses and dependents of deceased retirees if the retirees retired before June 1, 2008 and enrolled in Anthem Blue Cross PPO at the time of the death, and the length of subsidy is two years.
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The City also provides a cash subsidy for medi cal insurance premium to surviving spouses and dependents of active non-safety employees who pass away during their employment with the City. The subsidy is two years for the City Council, the Executives and the GMA employees, regardless of the medical insurance plans enrolled at the time of the death. The subsidy is two years for GCEA and IBEW employees if enrolled in Anthem Blue Cross PPO at the time of the death. The subsidy is two years for GCEA and IBEW employees if enrolled in HMO plans at the time of the death and if the employees’ death is a result of injuries incurred in the performance of his/her assigned duties. At the same time, the City provides cash subsidy for dental insurance premium to surviving spouses and dependents of active safety employees who pass away during their employment with the City. The subsidy continues until the spouses turn 65 and the children turn 26 (if applicable).

The above benefits offered to retirees are no lo nger available to new entrants because of the restriction of the retirement dates. Benefits paymen ts made by the City for the year ended June 30, 2025 were $54,000. At [June 30, 2023] (the most rece nt measurement date), [1 ,510] current and former employees were covered by the foregoing benefit terms.

As of June 30, 2025, the Electric System reporte d a liability of approximately $1.1 million for its approximately 14% proportionate share of the City’s total OPEB liability. The City does not have funds in an OPEB trust and does not pre-fund OPEB contributions.

Insurance
Glendale carries property insurance through Arthur J. Gallagher Insurance Company for Glendale Water and Power. The property insurance policy cove rs “All Risk of Direct Physical Loss or Damage including Flood, excluding Earthquake.” Current deductibles range from $25,000 to $250,000. Sub-limits apply to various specific components of this coverage.

Glendale is self-insured and administered for workers’ compensation claims. Funding for this protection is provided through an Internal Service Fund. Glendale carries an excess workers’ compensation insurance policy with a $2 million self-insured retention. Glendale is also self-insured for unemployment insurance, general auto and public liability through separate Internal Service Funds. Glendale carries an excess liability insurance policy with a $2 million self-insured retention and a $27 million limit. A claims payable liability has been established in these funds based on a case-by-case basis with estimates of reported claims and an estimate for claims incurred but not reported. Management of Glendale believes that provisions for claims at June 30, 2025 are adequate to cover the net cost of claims incurred to that date.

However, such liabilities are, by n ecessity, based upon estimates and th ere can be no assurance that the ultimate cost will not exceed such estimates.

THE ELECTRIC SYSTEM
History and General
Until 1937, the City purchased all of its elect ric energy from the Southern California Edison Company (“Edison”), successor to Pacific Light and Power Company, for distribution and sale to its customers. After the Boulder Canyon Project Act was approved by Congress in 1928, the City signed, in 1931, a contract with the United States for approximately 80,000 megawatt-hours (“MWh”) of firm energy annually to be generated at the Hoover Dam. A contract was entered into at the same time with the City of Los Angeles to transmit this energy to the City at the maximum capacity of approximately 18 MW.

Studies made in 1938 showed that this firm allotment of Hoover Dam energy would not be sufficient for the City after 1942, with the result that the City established its own steam electric generating 155 of 280

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station located within the City, the Grayson Power Plant, with the first 20 MW unit being placed in service in 1941. This unit not only supplied energy to keep up with the growth of the City but also acted as standby to the transmission line from the Hoover Dam Power Plan t. Since that time additional units owned by the City (and other resources) have supplied the energy requirements of the City.

The Electric System is interconnected with and in the Los Angeles Department of Water and Power Balancing Area. In 2024, the American Public Power Association recognized the Department as a Platinum Level Reliable Public Power Provider (RP3) for its service reliability, improvement programs, and safety performance.

Principal Existing Facilities; Resources Generally
Glendale owns facilities for the distribution of electric power. These facilities include approximately 56 miles of 34/69 kV power lines, 503 miles of 4/12 kV distribution lines and 12 distribution substations. Glendale maintains a diverse resource mi x, with capacity available from natural gas, nuclear generating units, coal, large hydroelectric and a ra nge of renewable resources, totaling 284 MW as of June 30, 2025.

The Grayson Power Plant generating station, which is located within the City, has been in service since 1941. The Grayson Power Plant is currently under repowering, with all units except for Unit 9 being demolished. Unit 9, a simple cycle natural gas-fired combustion turbine with 50.5 MW of gross nameplate capacity, began commercial operation in 2003. It is u sed to meet intermediate and peaking loads, and provides ancillary services such as operating reserve capacity and load balancing as required.

In January 2023, the City Council approved Sc holl Biogas Renewable Generation Project. The project is for the installation of four gas engine generators, along with a landfill gas cleanup system with the purpose of capturing and combusting the existi ng landfill gas to produce approximately 11 MW of renewable energy. The generator units were instal led in December 2024 with substantial completion expected to be achieved in July 2026.

In February 2023, the City Council directed sta ff to implement the Grayson Repowering Project.

The Grayson Repowering Project consists of, in pa rt, new facilities that have a total capacity of approximately 56 MW (three reciprocating internal combustion engines rated at 18.6 MW each) (the “Wärtsilä Power Island”) and a 75 MW/300 MWh battery energy storage system. All engineering, procurement, and construction contracts have been executed. The anticipated commercial operation for the battery energy storage system is the beginning of August 2026. The Wärtsilä Power Island is delayed due to late equipment deliveries and at this time its commer cial operation date is the third or fourth quarter of 2026.

Although the Grayson Power Plant is the largest source of capacity, the majority of Glendale’s energy requirements are supplied by various long-t erm power purchase agreements and spot purchases to minimize supply cost, improve reliability and comply with California’s mandates, including the Renewable Portfolio Standards (“RPS”) and the Cap-and-Trade Program. Glendale has met RPS requirements for Compliance Period 1 (2011-2013), and Compliance Period 2 (2014-16), and Compliance Period 3 (2017- 20). Glendale Water and Power is currently on track to reach the targets for Compliance Period 4 (2021- 24), as well as preparing to meet the new targets under SB 100 of 60% RPS by 2030 and 100% carbon-free by 2045. Glendale has entered into a contract thr ough the Southern California Public Power Authority (“SCPPA”) for the purchase of 10 MW of small hydroelectric in the Northwest. The hydroelectric contract converts to ownership by Glendale when the related bonds are fully paid. In 2007, Glendale secured 16 MW of wind-powered energy from the Pebble Springs proj ect. This contract is set to expire in 2027.

Glendale also has a 9.5 MW long-term contract for small hydroelectric power delivered from the Tieton 156 of 280

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Hydro Dam, which is set to expire in 2029. Additio nally, this agreement will convert to City ownership once the associated bonds are fully repaid.

In 2015, Glendale entered into a 25-year 50 MW firm energy supply with Skylar Resource, L.P., of which 50% will be renewable; this arrangement was modified to ensure 55% of the energy is renewable beginning 2020, and an additional 20% of the energy is carbon-free beginning in 2020. Skylar Resources, L.P. assigned the power purchase agreement to Townsite Solar LLC in 2021. In 2020, Glendale entered into a contract for the purchase of 3 MW from the Whitegrass No. 1 geothermal project, and 12.5 MW from Starpeak geothermal, as well as 25 MW of Solar Energy and 18.75 MW/75 MWh of Battery Energy Storage System from Eland I Solar and Storage. See al so “–Power Supply” below. The Whitegrass No. 1 Geothermal Energy Project (Whitegrass) is a 4.0 MW nameplate geothermal energy project located in Lyon County, Nevada. In the Whitegrass Project, the devel oper is currently in default due to not providing a replenishment of the required perform ance security. The City is currently considering its options in this matter. However, this contractual default in Whitegrass is not anticipate d to have a material effect on the City’s finances or operations.

Although available resources under contract or owned by the City are sufficient to meet the City’s current daily loads, a portion of the Electric System’s energy supply is purchased on the wholesale hourly, daily and month-ahead spot markets.

Glendale is also currently developing other pr ograms related to electric demand and supply. In 2020, the City Council authorized a contract with Lime Energy Services Company (now Wildan Energy Co.) for a 36,500 MWh/8.32 MW commercial energy e fficiency program. The program has delivered 28,000 MWh of savings (78% of program goal) and lo ad reduction of 2.8 MW (35% of program goal) in the first 3.5 years of the seven year program term. In November 2023, the City Council awarded two contracts for Phase 1 of the City Owned Solar De velopment Program. Motive Energy is currently conducting an environmental study fo r a ground mount solar project. Solar Optimum was awarded an Engineer, Procure, Construction contract for a rooftop or carport solar project on five sites. Total expected capacity for all six sites included in Phase 1 of the City Owned Solar Development Program is 4.9 MW.

The Department’s Perkins building roof top solar project was completed in March 2025 and the Central Library roof top solar project is scheduled for completion in December 2025. The Sports Complex and the Department’s Utility Operations Center parking lot carpool solar projects are currently in the permitting process. The City continues to actively explore other local clean energy resources that can deliver energy, energy savings, storage and/or capacity to the City without utilizing the Department’s transmission resources.

The following table sets forth the valuation of th e Electric System facilities during the five Fiscal Years shown.

GLENDALE WATER AND POWER

ELECTRIC SYSTEM FACILITIES
($ in thousands)
Fiscal Year Ended June 30,
2025 2024 2023 2022 2021

Utility Plant $543,147 $539,734 $533,813 $615,413 $616,256 Less Accumulated Depreciation (399,543) (390,537) (386,168) (429,553) (412,827) Construction in Progress 418,945 162,863 29,695 9,086 8,075 Total Facilities $562,549 $312,060 $177,340 $194,946 $211,504 ______________________________
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Source: Glendale Water and Power.

Power Supply
During the Fiscal Year ended June 30, 2025, the Electric System generated and purchased a total of 1,237,048 MWh. Sales to other utilities for the Fiscal Year ended June 30, 2025 were 104,008 MWh.

Electric System peak demand in Fiscal Year ended June 30, 2025 was 348 MW. Over the five Fiscal Year period ended June 30, 2025, retail sales increased from 978,251 MWh to 993,009 MWh, an average annual increase of approximately 0.4%.

The following table sets forth the total power generated and purchased and the peak demand of the Electric System during the five Fiscal Years shown.

GLENDALE WATER AND POWER

TOTAL POWER GENERATED AND PURCHASED AND PEAK DEMAND
Fiscal Year Ended June 30,
2025 2024 2023 2022 2021

Generated (MWh) 50,331 30,815 90,479 108,818 144,657
Purchased (MWh) (1) 1,186,717 1,219,048 1,392,077 1,371,399 1,410,514 Total Supply (MWh) 1,237,048 1,249,863 1,482,556 1,480,217 1,555,171 Retail Sales (MWh) 993,009 974,195 999,852 985,525 978,251 Sales to Othe
r Utilities (MWh)(1) 104,008 224,585 397,991 419,063 482,809 System Peak Demand (MW) 348 287 329 261 335
______________________________
(1) Fluctuations in purchased energy and sales to other utilities are a function of market conditions.

Source: Glendale Water and Power.

The following table sets forth information concer ning Glendale’s power supply resources and the energy supplied by each during the Fiscal Year ended June 30, 2025.

GLENDALE WATER AND POWER

POWER SUPPLY RESOURCES
(as of June 30, 2025)

Source
Capacity
Available
(MW)
Actual
Energy
(MWh)(1)
Percent
of Total
Energy
Glendale-Owned Generating Facilities (Grayson):(2)
Combustion Turbine Generators 50.5 50,331 4.07%
Joint Power Agency/Remote Ownership Interests:(3)
Intermountain Power Project (IPA) 39 92,006 7.44%
Palo Verde Project 10 83,437 6.74%
Magnolia (SCPPA) 47 219,117 17.71%
Tieton (SCPPA) 7 7,572 0.61%
Purchased Power:
(3)
Hoover 20 46,531 3.76%
Pebble Springs Wind 20 41,093 3.32%
Skylar WSPP Renewables 50 289,482 23.40%
Star Peak 12.5 50,593 4.09%
Whitegrass No. 1 3 21,622 1.75%
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Eland 25 68,791 5.56%
Market Purchases(4) N/A 266,473 21.54%
Total 284 1,237,048 100.00%
________________________________
(1) During the twelve-month period ended June 30, 2025. (2) Rated or name-plate capacities. As of June 2024, th e Grayson Power Plant is under repowering; all units were demolished, except for Unit 9.
(3) Entitlements, firm allocations and contract amounts. (4) Market purchases are spot-market purchases.

Source: Glendale Water and Power.

Joint Powers Agency Resources/Remote Ownership Interests As described below in various subsections, Glendale is a participant in many SCPPA projects. In addition, Glendale has long term contract rights to capacity and energy in the Intermountain Power Project (“IPP”) of the Intermountain Power Agency, a political subdivision of the State of Utah (“IPA”) and in the Hoover Dam power plant, pursuant to contracts with the Western Area Power Administration (“Western”).

See also “Indebtedness; Joint Powers Agency Obligations” below.

Certain of these projects in which Glendale has an entitlement interest or participation with other parties are subject to the other parties involved in those projects meeting their respective payment obligations with respect to such projects. If a pa rty defaults on its payment obligations, then the non- defaulting parties, subject to the utilization of any reserves, may be required to expend additional funds with respect to such project. If a non-defaulting party does “step-up” to the payment obligation of a defaulting party, the non-defaulting party may ultimat ely be entitled to a portion of the capability and/or output of the defaulting party’s share of the project.

These resources (including any sale and assignment of energy to another party, as described below under “–Indebtedness; Joint Power Agency Obligations – Contingent Obligations for Wind Energy Projects”) are briefly described below.

Hoover Project Interest. Glendale is a contractor under Hoover Power Electric Service Contracts and holds an 18 MW share of the Hoover power cap acity under Schedule A (referring to the original purchasers, including Glendale, under the Boulder Ca nyon Project Act of 1928), and a 2 MW share of capacity under Schedule B (referring to contractors, including Glendale, who advance-funded the Hoover power turbine uprating authorized in the 1984 Hoover Power Plant Act). The Hoover Project consists principally of 17 generating units at the hydroelectric power plant of the Hoover Dam, located approximately 25 miles from Las Vegas, Nevada. Modern insulation technology made it possible to “uprate” the nameplate capacity of existing generato rs (the “Hoover Uprating Project”). Glendale, along with the California cities of Anaheim, Azusa, Banning, Burbank, Colton, Pasadena, Riverside and Vernon obtained an entitlement to the capacity and allocated energy annually from the Hoover Uprating Project.

In 1987, to reflect its entitlement, Glendale entered into contracts with the United States Bureau of Reclamation (the “Bureau”) providing for the advancement of funds for the uprating and with Western for the purchase of power from the Hoover Uprating Project. Glendale is entitled to 20 MW or 1.0251% of the capacity and 1.5874% of the firm energy from the Hoover Project. Under nor mal hydrologic conditions, Glendale receives approximately 58, 000 MWh of annual energy deliveries. In the Fiscal Year ended June 30, 2025, the Hoover Project provided 46,531 MWh of energy to Glendale.

The Electric Service Contracts for Hoover expired on September 30, 2017 and were replaced with new, 50-year Electric Service Contracts effective October 1, 2017. Pursuant to the Hoover Power Allocation Act of 2011, all Sche dule A and Schedule B Hoover contractors, in each case including 159 of 280

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Glendale, have a right to continue to receive Hoover power for an additional term of 50 years, and five percent of Hoover’s full rated capacity of 2.074 million kilowatts and associated firm energy was assigned to new Hoover allottees under new Electric Service C ontracts that became effective on October 1, 2017.

Glendale’s share under the post-2017 Hoover Electric Service Contracts is 20.198 MW.

Palo Verde Nuclear Generating Station Interest . Through its membership in SCPPA, Glendale has a 4.40% entitlement interest (9.9 MW) in SCPPA’s 5.91% ownership interest in the Palo Verde Nuclear Generating Station (“PVNGS”), incl uding certain associated facilities and contractual rights, a 5.56% ownership in the Arizona Nuclear Power Project (“ANPP”) High Voltage Switchyard and associated contractual rights, and a 6.55% share of the rights to use certain portions of the ANPP Valley Transmission System. Commercial operation and initial deliveries from PVNGS Units 1 and 2 commenced in 1986 and Unit 3 commenced in 1987. Transmission for PVNGS energy is provided to the City by the Mead-Adelanto Transmission Project and the Mead-Phoenix Transmission Project (see “Existing Transmission Resources” below) and agreements with Salt River Project, LADWP and Southern California Edison Company.

Glendale has a power sales agreement with SCPPA that obligates Glendale to pay for its share of capacity and energy on a “take-or-pay” basis, includi ng debt service on bonds (if any, currently there are none) issued by SCPPA for the project, capital costs and costs related to operation and maintenance. In the Fiscal Year ended June 30, 2025, PVNGS provided 83,437 MWh of energy to Glendale.

The co-owners of PVNGS have created extern al accounts for the decommissioning of PVNGS at the end of its life. Based on the most recent es timate of decommissioning costs, SCPPA has advised Glendale that its estimated share of decommissioning costs through SCPPA is fully funded. No assurance can be given, however, that the amount accumulated to date will continue to be sufficient to fully fund SCPPA’s share of decommissioning costs. SCPPA has advised Glendale that it anticipates it will receive a new estimate of decommissioning costs every three years.

San Juan Unit 3 Interest. Through its membership in SCPPA, Glendale has held a 20 MW (9.8%) entitlement in SCPPA’s 41.8% interest in the San Juan Unit 3 and related common facilities of the San Juan Generating Station, a 4 unit, coal-fired electric gene rating station located in northwestern New Mexico, approximately 15 miles northwest of the City of Farm ington, in San Juan County. As described below, Unit 3 was shut down on December 31, 2017, as part of an overall settlement of legal issues regarding emissions at the San Juan Generating Station.

In July 2015, with authorization from the City Council, SCPPA executed a San Juan Project Restructuring Agreement, a San Juan Decommissioning and Trust Funds Agreement and an Amended and Restated Mine Reclamation Agreement on behalf of Glendale and other SCPPA participants exiting from the San Juan project. These agreements allow for Glendale and certain other owners of the San Juan project to relinquish their ownership shares in San Juan and to contribute to the decommissioning and mine reclamation costs associated with the partial decommissioning of the coal plant. The agreements allow for the shutdown of two of the four San Juan units (Units 2 and 3) and provide for the installation of emissions- reducing equipment on the other two units (Units 1 and 4).

Glendale’s and the other exiting parties’ shares of the San Juan coal assets have been transferred to those participants remaining in the project after December 31, 2017. Glendale (through SCPPA) and other existing participants remain responsible for liability arising from operations before the December 31, 2017 date. Pursuant to the Mine Reclamation Agreemen t, SCPPA and the other project participants were obligated to set up a trust fund for the mine reclamati on. Glendale’s obligation after 2017 is defined by approximately 1.3% of the cost of reclaiming disturbances at the mine site as of December 31, 2017. Costs of plant decommissioning will be split between exiting participants and remaining participants. 160 of 280

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Magnolia Power Project. Glendale is a participant of the Magnolia Power Project. The Magnolia Power Project is owned by SCPPA and was constructed and acquired for the primary purpose of providing participants in the Magnolia Power Project with firm capacity and energy to help meet their power and energy requirements. The Magnolia Power Project is ope rated by the City of Burbank. Glendale has a

16.5289% entitlement (40 MW base capacity and 47 MW peaking capacity) in the project through a long- term Project A Power Sales Agreement with SCPPA which obligates Glendale to pay for its share of capacity and energy on a “take-or-pay” basis, incl uding debt service on bonds issued by SCPPA for the project, capital costs and costs related to operation a nd maintenance. The unit was placed in service in September 2005 and operates in a base-load mode (8,000 hours per year or more) with staffing by Burbank Water and Power personnel as SCPPA’s operating agent on a 24-hour basis. In the Fiscal Year ended June 30, 2025, the Magnolia Project provided 219,117 MWh of energy to Glendale.

Tieton Hydropower Project . Glendale is a participant in SCPPA’s Tieton Hydropower Project.

Glendale has entered into a power sales and acqui sition contract with SC PPA, under which SCPPA has sold to Glendale on a “take-or-pay ” basis, its entitlement share of 50.0% (approximately 6.8 MW) of the capacity and energy of the Tieton Hydropower Project. Glendale’s power sales and acquisition contract with SCPPA obligates Glendale to pay its share of debt service on bonds issued by SCPPA for the project, as well as capital costs and costs related to operation and maintenance. In the Fiscal Year ended June 30, 2025, the Tieton Hydropower Project provided 7,572 MWh of energy to Glendale.

IPA Intermountain Power Project Interest . The purpose of IPA is to provide for the financing, constructing and operation of the IPP. The IPP was or iginally constructed as a coal-fired, steam electric generating plant with a net rating of 1,800 MW. In December 2025, a repowering of the generating station to replace the coal units with combin ed cycle natural gas units as the source of generation for the IPP (the “IPP Repowering Project”) was completed. Following completion of such repowering, the IPP consists of:
(i) a two-unit, combined-cycle natu ral gas-fired electric generating plan t, consisting of two power blocks, each with one gas turbine, a heat recovery steam generator train and a single steam turbine, with an approximate combined net generation capability of 840 MW (the “Intermountain Generating Station”) and a switchyard (the “Switchyard”), located near Lynndyl , in Millard County, Utah; (ii) a ±500 kilovolts (“kV”), direct current (“DC”) transmission line approximately 490 miles in length from and including the Intermountain Converter Station (an alternating current/direct current converter station adjacent to the Switchyard) to and including a corresp onding converter station at Adelanto, California (collectively, the “Southern Transmission System”) (see “Existi ng Transmission Resources – Southern Transmission System” below); (iii) two 50-mile, 345 kV, alternati ng current transmission lines from the Switchyard to the Mona Switchyard in the vicinity of Mona, Utah and a 144-mile, 230 kV, alternating current transmission line from the Switchyard to the Gonder Switchyard n ear Ely, Nevada (collectively, the “Northern Transmission System”); (iv) a microwave communications system; (v) certain water rights; and (vi) coal generating units and related facilities which are not in operation. The estimated cost of the repowering of the plant to the new combined cycle units at IPP was approximately $1.7 billi on. This estimate does not include the hydrogen facilities being constructed as described below.

As a result of the repowering, coal supplies to fuel the generating plant are no longer needed and the railcar service center constructed as part of the original IPP project to provide delivery of coal supplies ceased operating in August 2025.

In March 2024, IPA executed a Fuel and Asset Management Agreement (the “FAMA”) with Tenaska Marketing Venture (“TMV”) to purchase natural gas for use at the IPP. As fuel manager, TMV offers purchasing rights for natural gas and guarantees delivery to the IPP, providing reliable supply during high market volatility. Under the FAMA, TMV is also responsible for nominating, scheduling, and delivering natural gas to the IPP. TMV has been prov iding 100% of the gas to the IPP as of October 2024 to support commissioning activities.
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IPA executed a contract in early 2022 securing energy conversion and storage services to supply the IPP units with green hydrogen fuel (i.e., hydrogen created solely by use of renewable energy) to support the goal of operating with a blend of 30% green hydr ogen starting in 2025 and the subsequent goal of reaching 100% green hydrogen fueled operation by 2045. Upgrades to the Switchyard and replacement of converter stations are also being undertaken at an estimated cost of approximately $2.8 billion, reflecting a change in scope requested by LADWP and the cities of Burbank and Glendale to upgrade portions of the converter station to 3,000 MW.

Pursuant to a construction ma nagement and operation agreem ent between IPA and LADWP, LADWP acts as project manager and operating agent of the IPP, responsible for, among other things, administering, operating and maintaining the IPP. The facilities of the IPP have been in commercial operation since May 1987.

Glendale has entered into certain power purchase contracts with IPA and others to purchase certain entitlements of the IPP and related facilities, respectively. After accounting for transmission losses, for the Fiscal Year ended June 30, 2025, I PP contributed about 38 MW of capac ity to Glendale. For the Fiscal Year ended June 30, 2025, IPP provided 92,006 MWh of energy to Glendale.

IPP Agreements . Glendale has two separate contracts w ith IPA and the Utah Participants (as defined below) in the IPP, which currently provide Glendale a 38 MW (2.165%) entitlement of this facility (the “IPP Agreements”). A summary of the IPP Agreements is as follows:

Original Entitlement – Glendale contracted with IPA to purchase a 30 MW (1.704%) entitlement to the IPP plant. This contract oblig ates Glendale to pay its proportional share of the plant costs (including debt service and other fixe d expenses), regardless of the amount of energy, if any, scheduled to Glendale, for the life of the facility.

Excess Power Sales Contract – Glendale, the cities of Burbank and Pasadena, and LADWP (the “California Purchasers”) contracted with 27 sellers (the “Utah Participants”) and IPA (acting as agent for the sellers) to purchase a 379 MW (21.06 %) entitlement of the IPP plant, which was deemed in excess of the sellers’ needs. The California Purchaser s agreed to divide the excess among themselves in proportion to their original en titlements. Glendale’s share of the excess is 8 MW (2.382%). This contract also provides for access to the Northern Transmission System, which was built with IPA funds in order to deliver power from the IPP to the Utah Participants.

The term of this contract extends until the IPA bonds are defeased or the sellers’ load requirements meet certain specified conditions. The Utah Partic ipants have the unilateral right to recall their original entitlements at any time.

IPP Repowering Project. The above-referenced IPP Agreements expire in 2027, but one of the key factors affecting the future of IPP is Senate Bill 1368, which became effective in January 2007, and prohibits any investment in baseload generation th at does not meet specific emissions performance standards, subject to certain exceptions. In light of the restriction, in 2015, Glendale, along with each of the other 35 IPP participants, entered into Second Amendatory Power Sales Contracts, Renewal Power Sales Contracts, and Renewal Excess Power Sales Agreements with IPA. The Second Amendatory Power Sales Contract allowed for the recent IPP Repowering Project described above.

The Renewal Power Sales Contracts provided a process for IPP members to subscribe for shares of the new gas-fired or alternative repowering plant. Under its Renewal Power Sales Contract, Glendale will continue to participate in the IPP project and will retain its 4.166% share of the project, providing Glendale 35 MW of generation and 122 MW of transmission from IPP. Glendale’s current share of IPP generation provides approximately 7.4% of Glendale’s energy needs. 162 of 280

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The Utah Legislature enacted Utah Senate Bill 161 (“Utah S.B. 161”) in its 2024 General Session, which became effective on May 1, 2024. The reported purpose of Utah S.B. 161 was to induce IPA to amend IPA’s environmental permits to provide for the operation of at least one of the IPP coal-fired units after July 1, 2025, the date by which IPA was to have ceased operation of the IPP coal units permanently.

The coal units ceased operation in late November 2025. Utah S.B. 161 also required IPA to grant an option to the State of Utah for the purchase of at least one of the IPP coal-fired units with such option to be effective for two years starting on July 2, 2025. Following the enactment of Utah S.B. 161, the governor of Utah called a special session of the Utah Legislature resulting in the enactment of Utah House Bill 3004 (“Utah H.B. 3004”), which became effective on June 21, 2024 . Utah H.B. 3004 repealed the provisions of Utah S.B. 161 relating to IPA amending its environmenta l permits. IPA’s obligation to provide the purchase option to the State of Utah with respect to one of the IPP coal-fired units remained; however, Utah H.B. 3004 also directed a state agency, the Decommissioned Asset Disposition Authority (the “Utah Disposition Authority”), to submit an application to amend IPA’s air permit to allow for a coal unit to operate after July 1, 2025. Utah H.B. 3004 also directed environm ental regulators in the State of Utah to determine whether such an application would be granted if submitted by IPA. The Utah Disposition Authority was also directed to determine the regulatory and commerc ial feasibility of operating an IPP coal unit after July 1, 2025, and to conduct a process for soliciting bids from qualified purchasers for the coal unit.

The Utah Disposition Authority submitted its air a pplication with respect to the coal units by December 31, 2024, proposing to amend the provisions of IPA’s existing permit that require the coal units to cease operation following commercial operation of the IPP natural gas units. The application contemplated operation of the natural gas units at 100% of their design capacity a nd operation of the coal units at a 60% capacity factor. In a letter dated January 22, 2025, the State of Utah reported to the Utah Disposition Authority that, if officially submitted by IPA, the State of Utah “could approve a similar application based on the information included” in the application submitted by the Utah Disposition Authority.

Prior to the enactment of H.B. 3004, IPA stated that Utah S.B. 161 purported to create obligations for IPA that were inconsistent with IPA’s obligati ons under federal regulations and the IPP construction and operating permits issued under fe deral law. In public testimony with respect to Utah H.B. 3004, IPA management stated that the new bill made some important adjustments to the legislation and moved things in the right direction. Pursuant to Utah S.B. 161, IPA did grant to th e State of Utah an option to purchase the coal units and related assets specified in the bill. IPA has indicated that it is continuing to determine the extent of the impacts of Utah S.B. 161, as modified by Utah H.B. 3004, and to identify the appropriate course of action in response to this Utah legislation. The City cannot predict the impacts of such legislation on the future operation of the IPP repowering project.

Although Utah law did not explicitly require IPA to submit such an application, in light of the Utah Legislature’s stated intent to preserve the coal units for future operation, and demonstrated willingness to take action if IPA did not submit such an application, IPA submitted an applica tion to amend its existing permit to construct the natural gas units as part of th e IPP repowering project to allow the coal units to resume operation at a date after the natural gas units commence commercial operation. Utah House Bill 70 (discussed below) provides, however, that even after issuance of such an amended permit, the existing permit, including the requirement that the coal units cease operation and be placed in maintenance status, will remain in effect during the period that ends upon the earlier of when IPA sells the coal units or both (i) the resolution of all administrative and judicial challenges to the amended permit and (ii) the expiration of the applicable limitations period to file such challenges. Accordingly, IPA has indicated that it does not anticipate that the coal units will resume operation while IPA continues to own the coal units. In fact, Utah House Bill 70 relieves IPA of any obligation to commence operation of either coal unit during such period and contemplates that the Utah Energy Council, as establis hed by that bill, will take title to and contract with a third party for the operation of one or both of the coal units. 163 of 280

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On October 3, 2025, the Utah Department of Air Quality issued a permit to IPA that, in substance, approved IPA’s amendment application. On October 31, 2025, the Sierra Club and Healthy Environment Alliance of Utah filed an administrative appeal befo re the Utah Department of Environmental Quality challenging the issuance of the permit. IPA is a party to the appeal by operation of Utah law. Briefing on the matter will proceed through 2026. IPA has indicated that it is still assessing the potential impact of the appeal.

During its 2025 General Session, the Utah Legislat ure enacted Utah House Bill 70 (“Utah H.B. 70”). The bill became effective on March 24, 2025.

The bill requires IPA to maintain, indefinitely (i) power to station service for both of the coal units, (ii) an ongoing connection of one of its coal units to the IPP Switchyard, and (iii) interconnection and switchyard facilities that will allow the remaining coal unit to be interconnected with the IPP Switchyard without the need for a new interconnection request. Utah H.B. 70 also creates the Utah Energy Council for, among other purposes, the purposes of taking title to one or both of the coal units and assuming operational responsibility for each coal unit it acquires from IPA. Utah H.B. 70 also repeals the provisions of the Utah Code establishing the Utah Disposition Authority (eff ectively dissolving the Utah Disposition Authority) and the provisions specifying the functions that the Utah Disposition Authority was to have performed.

IPA is working with engineering personnel to reconfigure the proposed connections of synchronous condensers to the IPP Switchyard (connecting three s ynchronous condensers to the IPP Switchyard at one point of interconnection as opposed to two synchronous condensers at one point of interconnection and one synchronous condenser at another). IPA is constructing the synchronous condenser facilities to provide sufficient spinning mass to allow for operation of the natural gas units as designed and to maintain the rating of IPA’s transmission facilities. IPA has indicated that it believes that it will be able to comply with the requirements of Utah H.B. 70, though such require ments will result in additional costs to IPA and will diminish the redundancy that would have resulted from having two points of interconnection for the synchronous condensers to the IPP Switchyard. IPA is continuing to evaluate the future impacts of complying with Utah H.B. 70.

Purchased Power
In addition to City-owned resources and interests in the SCPPA, IPA and Hoover projects described above, the City has contractual arrangements for system firm purchases, primarily from renewable resources. Each of these resources is briefly described below.

Pebble Springs Wind Project. SCPPA, on behalf of Glendale and two other project participants, signed a long-term power purchase agreement with Pe bble Springs Wind Project LLC. The facility is located in Oregon with a total capacity of 99 MW, comprised of 47 Suzlon 2.1 MW wind turbines. Glendale has a 20.264% (approximately 20 MW) entitlement interest in the total capacity, energy and environmental attribute rights produced by the facility. In the Fi scal Year ended June 30, 2025, Pebble Springs Wind Project provided 41,093 MWh of energy to Glendale.

Skylar Resources Firmed Renewable Purchase. In 2014, Glendale executed a 25-year agreement with Skylar Resources L.P. for the annual delivery of 292,000 MWh of energy to Glendale starting on December 1, 2015. In the Fiscal Year ended June 30, 2025, 289,482 MWh of energy was delivered to Glendale. Deliveries may take place at the Mead Su bstation, Nevada-Oregon Broader (NOB), or another mutually agreed point. At least half of this energy must qualify each year as Portfolio Content Category 1 (“PCC 1”) renewable energy under State law and regul ations, and may be generated from a variety of renewable resources. The energy is delivered to the De partment as a block from 6 a.m. to 10 p.m. every day. In November 2015, the transaction was bifurcated into two separate agreements: the first agreement 164 of 280

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was a four-year contract with Morgan Stanley Capital Group, Inc. from December 1, 2015 through December 31, 2019. The second agreement was a 21-year contract with Skylar from January 1, 2020 through November 30, 2040. In October 2017 the ex isting power purchase agreement was terminated and replaced with a 21-year Western Systems Power P ool (“WSPP”) Power Purchase Agreement to increase renewable and carbon-free energy deliveries from 50% to 75%. In 2021, Skylar Resources L.P. assigned the power purchase agreement to Townsite Solar, LLC.

Whitegrass Geothermal Renewable Purchase. In 2020, SCPPA, on behalf of Glendale, signed a long-term power purchase agreement with Whitegrass No. 1, LLC for the annual delivery of 3 MW or approximately 23,000 MWh annually of renewable geothermal energy from the Whitegrass Geothermal Project located in Lyon County, Nevada. Glendale has a 100% entitlement interest in the total energy, capacity, and environmental attribute rights produced by the project. The deliveries began on April 1, 2020 and the contract ends on December 31, 2045. In the Fiscal Year ended June 30, 2025, Whitegrass Geothermal Project provided 21,622 MWh of energy to Glendale.

Star Peak Geothermal Renewable Purchase . In 2020, SCPPA, on behalf of Glendale, signed a long-term power purchase agreement with Star Peak Geothermal, LLC for the annual delivery of 12.5 MW or approximately 100,000 MWh annually of renewable geothermal energy from the Star Peak Geothermal Energy Project which will be devel oped in Pershing County, Nevada. Glendale has a 100% entitlement interest in the total energy, capacity, and environmental attribute rights produced by the project. The project started delivering power in Septembe r 2022, and the contract ends on December 31, 2045. In the Fiscal Year ended June 30, 2025, Star Peak Geothermal Project provided 50,593 MWh of energy to Glendale.

Eland I Solar and Storage Purchase. In December 2019, SCPPA, on behalf of Glendale and the Los Angeles Department of Water and Power, signed a 25-year power purchase agreement with 68SF 8ME, LLC for the purchase of renewable solar energy, battery energy storage system capacity, and environmental attribute rights from the Eland I Solar and Storage Center. The facility will be developed in Kern County, California. The energy will be delivered at Barren Ridge, and Glendale has entered into an agreement with the Los Angeles Department of Water and Power for the transmission of the energy to Glendale. Glendale has a 12.5% entitlement interest in the total capacity, energy, storage and environmental attribute rights produced by the facility, or 25 MW of renewable so lar energy and 18.75 MW/75 MWh of battery storage capacity. The project began commercial operation on November 18, 2024 . In the Fiscal Year ended June 30, 2025, Eland I Solar and Storage Project prov ided 68,791 MWh of energy to Glendale. Glendale is not a participant in phase II of the Eland project.

Fuel Supply
In the Fiscal Year ended June 30, 2025, Glendale generated approximately 4% of its electric energy requirements from local generating units which burn natural gas and are available for emergency operations and to provide operating reserves.

Glendale has firm contracts with respect to out of state transmission pipelines and gas supplies for 3,989 million British thermal units (“MMBtu”) of natural gas per day. In addition, natural gas is purchased from the spot market at the Southern California Ga s City-Gate. The Southern California Gas Company (“SCG”) provides intrastate delivery of natural gas to Glendale’s Grayson Power Plant and to the Magnolia Power Plant in Burbank.

Interstate Transportation. Natural gas is the primary fuel supply for Glendale’s local generating requirements. Canadian natural gas is transported using Glendale’s firm transportation on the TransCanada pipeline system and the PGT pipeline to the Pacific Gas & Electric Company (“PG&E”) system at Malin 165 of 280

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(near the California-Oregon border), then into the SCG system at Wheeler Ridge (near Bakersfield, California) using Glendale’s PG&E entitlement.

SCG provides transportation of gas to local ge nerating plants from Topock on the east and from the PG&E expansion line terminus at Wheeler Ridge to the north. The current volumetric tariff rate is $2.5118 per MMBtu. There are a number of factors, including those described in the “Green Book” of the California Public Utilities Commission (the “CPUC”) on natural gas industry restructuring, which could affect the tariff rate or fundamentally change Glendale’s costs for intrastate gas transmission. In addition, intrastate transport costs are expected to increase due to pipeline safety investments by PG&E and SCG.

Biogas Renewable Generation Project. In November 2021, the City Council certified the EIR for the Biogas Renewable Generation Project. The project entails installation of generation units at the Scholl Canyon landfill site so that the landfill gas can be directly processed to generate energy at the Scholl Canyon site. The Scholl Canyon site is located in the C ity. The Biogas Renewable Generation Project has an estimated cost of $76 million and the project would be completed over a course of approximately 48 months.

On January 24, 2023, the City Council approved a fu ll notice to proceed for the second and final phase of the project. The project will have four Jenbacher gas engine generators that w ill generate approximately 11 megawatts of power. Per modeling done by the consultant on the future gas production and degradation of landfill gas after its closure, there will be sufficient gas production to run the proposed four engines until 2034, and three engines until 2042. During this ti me, the Biogas Renewable Generation Project will generate approximately 10.5 to 12 megawatts (four engines) and 7.7 to 9 megawatts (three engines) of gross renewable power. After 2042, there will be only tw o engines running and generating an estimated 6 megawatts of gross power. The anticipated commercial operation date is in December 2026.

Natural Gas Reserves Project. In June 2005, Glendale elected to participate in the Pinedale Natural Gas Project through SCPPA for up to 2,000 MMBtu per day. The project provides for the acquisition and development of gas resources, reserves, fields, wells, and related facilities to provide a long- term supply of natural gas for its pa rticipants. Glendale’s share in the project is 4.2553%. The first acquisition by the project was completed on July 1, 2005 with the total cost to the participants (including LADWP which acquired its share directly and not th rough SCPPA) of $306.1 million, of which Glendale cash funded approximately $13 million for its share. The acquisition, located in Pinedale, Wyoming, is expected to provide Glendale with peak daily volume of between 700 to 900 MMBtu. In the Fiscal Year ended June 30, 2025, Glendale received peak daily volume of approximately 345 MMBtu. Glendale Water and Power has reserved $16 million to fund the drilling pr ograms of the Pinedale property and for future acquisitions.

Prepaid Natural Gas Project . In October 2007, Glendale and several members of SCPPA completed a prepaid natural gas financing to secure a nother source of long-term supply of gas to provide fuel for the Magnolia Power Project and their other respective gas-fired generation stations. In connection with the prepaid natural gas financing, Glendale en tered into a natural gas supply agreement with SCPPA pursuant to which Glendale purchases natural gas at a discount from the spot price over a term of 30 years (25 years as of a restructuring completed in 2009) whic h is scheduled to terminate at the end of October 2032. In the fiscal year ended, June 30, 2025, this natural gas supply agreement provided approximately 29% of Glendale’s gas requirements for the Grayson Power Plant and the Magnolia Power Project.

Existing Transmission Resources
Transmission resources are an integral component of Glendale’s plan to provide economical and reliable electric service to its customers. Glenda le currently has several firm capacity transmission agreements (ownership and long-term leases) to deliver up to 262 MW of remote generation to the Air Way Receiving Station in Glendale and to provide access to major hubs of the western wholesale power market. 166 of 280

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The transmission network currently allows Glendale to obtain energy supplies and enables sales and exchanges of energy during low load periods. Glen dale has sufficient transmission resources during low- load periods, but during high-load periods must leverage local generation because of constrained transmission resources. Depending on the generati on source, the energy is transmitted through a combination of the following transmission resources.

GLENDALE WATER AND POWER

FIRM TRANSMISSION SERVICE AGREEMENTS
(as of June 30, 2025)

Transmission Line/Path Owner/Party
Glendale’s
Capacity

Primary Use

Pacific Northwest DC Intertie Glendale 115 MW NW Market Northern Trans. System (NTS) IPA/Utah 33/3 MW
(1) SW Markets
Southern Trans. System (STS) SCPPA 55 MW IPP
Victorville/Adelanto-Air Way LADWP 112 MW IPP, Hoover, PVNGS, SW Markets Mead-Phoenix SCPPA 41 MW PVNGS, Westwing, Marketplace
Mead-Adelanto SCPPA 112 MW PVNGS, Marketplace
Sylma
r-Air Way LADWP 150 MW NW and SW Markets
Burbank-Glendale
Interconnection
Glendale/
Burbank
125 MW Magnolia
_______________________
(1) Glendale has rights to approximately 33 MW between IPP and Mona Substation and 3 MW between IPP and Gonder Substation. These rights vary by season and direction.

Source: Glendale Water and Power.

Pacific Northwest DC Intertie. Spanning 850 miles from Celilo in northern Oregon to Sylmar, California, the Pacific Northwest DC Intertie is a double-pole, +1-500 kV transmission line operated as a single path with separate ownership north and south of the Nevada-Oregon border (“NOB”). The Pacific Northwest DC Intertie conveys energy to Glendale from Pacific Northwest utilities and Glendale’s interests in renewable energy projects in the northwest. Gle ndale is entitled to 115 MW (3.846%) of the total 3,100 MW capacity of the southern portion (south of the point where the line crosses the NOB of the Pacific Northwest DC Intertie). Because of the load diversity and excess hydroelectric energy in the spring during most years, the Pacific Northwest DC Intertie provides Glendale with opportunities for economical energy imports.

Northern Transmission System. The NTS consists of two 50-mile long 345-kV AC transmission lines which connect the IPP to the Mona Substation in Utah and the Gonder Substation in Nevada. Glendale has entitlements of 24 MW and 3 MW of capacity, r espectively, on these transmission lines as a result of the IPP Excess Sales Contract with the Utah participants. These rights vary by season and according to the terms of the agreement. Under the IPP Repowering Project, Glendale has 0 MW of capacity on the NTS line.

Southern Transmission System. The Southern Transmission System (“STS”) is a double-pole, +/- 500-kV DC transmission line spanning 488 miles from th e IPP in central Utah to the Adelanto Substation in Southern California, together with an AC/DC converter station at each end. It is operated and maintained by LADWP under contract with IPA. In connection w ith its entitlement to the IPP, Glendale acquired a contractual entitlement to 44 MW (2.3%) of the total 1,920 MW capacity of the STS (prior to the upgrade, as described in the following paragraph) through a tr ansmission system contract with SCPPA. Under the IPP Repowering Project, Glendale has 127 MW of capacity on the STS line. 167 of 280

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To have access to potential renewable energy res ource development available in central Utah and the Rocky Mountain region, and to have access to the potential energy in that area, the California participants in IPP initiated the STS Upgrade Project, which increased the transfer capability of the STS by 480 MW. The STS Upgrade Project increased the capac ity of the Southern Transmission System from 1,920 MW to 2,400 MW, increasing Glendale’s entitlement in the STS increased by 11 MW to 55 MW.

Glendale has entered into a transmission service contract with SCPPA which obligates Glendale to pay the cost of its share of the transfer capability on a “take-or-pay” basis.

Southern Transmission System Renewal Project. In connection with the IPP Repowering Project, SCPPA is financing the costs of acquisition and co nstruction of additional capital improvements to the Southern Transmission System (the “STS Renewal Pr oject”), which initially will include new converter stations and AC switchyard expansions at the Adelanto Converter Station and the Intermountain Converter Station, and reactive power equipment. Glendale ha s entered into a renewal transmission service contract related to the STS Renewal Project. Under such an existing agreement with IPP and such renewal transmission service contract Glendale is obligated to pay the cost of its share of the transfer capability on a “take-or-pay” basis.

The Renewal Power Sales Contracts provided a process for IPP members to subscribe for shares of the new gas-fired or alternative repowering plant. On July 23, 2019, the City Council approved GWP’s recommendation for continued participation in the IPP project which enabled Glendale to retain its 4.166% share of the project. Upon the expiration of certain or iginal agreements in 2027, Glendale’s share of the STS Renewal Project will be 5.278%.

Victorville/Adelanto-Air Way Transmission System. Glendale has contracts with LADWP for 112 MW of transmission capacity (net of losses) from either Adelanto or Victorville to the Air Way Receiving Station.

Mead-Phoenix Transmission Project, SCPPA Interest (Multiple Members). Glendale is a participant in SCPPA’s member-related interest in the Mead-Phoenix Transmission Project, a 256 mile, 500-kV AC transmission line that extends between a southern terminus at the existing Westwing Substation (in the vicinity of Phoenix, Arizona) and a northern terminus at Marketplace Substation, a substation located approximately 17 miles southwest of Boulder City, Ne vada. Glendale has entered into a transmission service contract with SCPPA under which SCPPA has so ld to Glendale, on a “take-or-pay” basis, its entitlement share of 16.5% (approximately 41 MW) of SCPPA’s member-related ownership interest in the Mead-Phoenix Transmission Project and which obligates Glendale to pay its share of debt service on bonds issued by SCPPA for the project, as well as capital costs and costs related to operation and maintenance.

Mead-Adelanto Transmission Project, SCPPA Interest (Multiple Members). Glendale is entitled to 112 MW (7.5%) of transmission capacity from the Mead-Adelanto Transmission Project, an approximately 202-mile, 500-kV AC transmission line that extends betw een a southwest terminus at the existing Adelanto Substation in southern California and a northeast terminus at Marketplace Substation, a substation located approximately 17 mi les southwest of Boulder City, Neva da. Glendale has entered into a transmission service contract with SCPPA, under which SCPPA has sold to Glendale, on a “take-or-pay” basis, its entitlement share of SCPPA’s member-re lated ownership interest in the Mead-Adelanto Transmission Project. Glendale’s transmission service contract with SCPPA obligates Glendale to pay its share of debt service on bonds issued by SCPPA for the project, as well as capital costs and costs related to operation and maintenance.

Sylmar-Air Way . Glendale has two contracts with LADWP for 100 MW and 50 MW of firm transmission service from the Sylmar Receiving Station to the Air Way Receiving Station. These contracts 168 of 280

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are for the delivery of energy transmitted over the Pacific Northwest DC Intertie and for delivery of energy purchased from Southwest markets.

Sylmar Services Agreement. Glendale has a contract with LADWP for 115 MW of transfer rights through the Sylmar Switching Station into and out of the California Independent System Operator, which allow for the transfer of energy to/from the Pacific Northwest and to/from Glendale.

Glendale participates in energy markets of the California Independent System Operator (the “ISO”) but currently does not intend to transfer control of its transmission resources to the ISO. Glendale has no firm plans to increase its transmission capacity.

Wholesale Transactions
In addition to making market purchases, Glendale sells wholesale energy, which includes electrical energy and capacity, ancillary services, transmission , renewable energy attributes, emission allowances, carbon allowances and carbon emission offsets, natural gas, transportation, imbalance and storage. When necessary, energy traders seek opportunities to market short-term energy transactions. All transactions are conducted within the Energy Risk Management Policy last approved by the City Council in May 2025.

Glendale’s volume of short-term transactions on the electric wholesale market has fluctuated with market conditions in the western United States as have the revenues the Department has been able to realize by selling energy to third parties. Gross sales to third parties were $18,459,00 0 in Fiscal Year 2019-20, $22,875,000 in Fiscal Year 2020-21, $29,862,000 in Fiscal Year 2021-22, $40,113,000 in Fiscal Year 2022- 23, and $20,666,000 in Fiscal Year 2023-24.

Interconnections and Distribution Facilities
Glendale’s power system is inside the LADWP balancing area and is interconnected to the LADWP system at Air Way Receiving Station and to the Burba nk system at Western Substation. Glendale owns facilities for the distribution of electric power to reta il customers. These facilities include approximately 60 miles of 34/69-kV power lines, approximately 498 miles of 4/12-kV distribution lines (of which approximately 50% are underground), two switchi ng substations, 12 distribu tion substations and 104 distribution feeders. The 69-kV Kellogg Switching station, a gas insulated station (“GIS”), includes state- of-the-art relays and devices. In 2011, one distribu tion substation was reconstructed from an air-insulated substation to GIS and converted from a 34.5/4-kV sta tion to a 69/12-kV station. The project included conversion of 4-kV distribution services to 12kV in the service area. In 2016, a second distribution substation was reconstructed from an air-insulated substation to GIS and converted from a 34.5/4-kV station to a 69/12-kV station. The project included conversion of 4-kV distribution services to 12-kV in the service area. In 2017, a 2MW battery energy storage syst em was installed and connected to Kellogg 69-kV Switching Substation.

Electric Rates and Charges
Glendale is obligated by its Charter and the Indenture of Trust to establish rates and collect charges in an amount sufficient to meet its expenses of ope ration and maintenance and debt service requirements (with specific requirements as to priority and coverage ). Electric rates for Glendale are recommended by the Commission and are subject to approval by the City Council. Electric rates are not subject to regulation by the CPUC or by any other agency of the State. The State Constitution requires that electric rates be based upon the cost of service to the various customer classes. 169 of 280

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In addition, State Legislative Assembly Bill 1890 (“AB 1890”) requires the imposition of a public benefits charge (“PBC”) of 2.85% of annual revenue requirements. Beginning in January of 1998, Glendale collected this PBC as a 2.85% charge applied to all electric charges. In September of 1999, the City Council approved changes to the electric rates to collect th e PBC beginning on January 1, 2000 as a charge per kilowatt hour ($0.002963 per kilowatt hour). In Februa ry of 2008, the City Council approved changes to the electric rates to collect the PBC beginning in Marc h of 2008 as a percentage of the electric bill. The current rate is 2.85% of all electric charges.

For customers of the Electric System, the elect ric rates are composed of (i) a meter charge component, designed to cover a portion of the fixed costs of the Electric System, and (ii) an energy charge calculated based on usage. Some rate schedules are al so subject to a demand charge and a reactive power charge. The electric rates also include bi-annual adjust able rates (made up of an Energy Cost Adjustment Charge and a Regulatory Adjustment Charge) which adjust the customer’s electric bill upwards or downwards to reflect variation from the projected cost of purchased power, fuel and regulatory expenses.

In addition, a Revenue Decoupling Ch arge (or Revenue Decoupling Credit) is applied to the customer’s electric bill twice a year to reflect the variance fro m actual sales when compared to projected sales.

Increases to the energy cost adjustme nt charge are limited to no more than one-half cent ($0.005) per kilowatt-hour during any 12-month period, except under limited circumstances such as an extended outage of a major resource or large and sustained fuel pri ce increases, in which case the Energy Cost Adjustment Charge may be increased by up to an additional one cent ($0.01) per kilowatt-hour during any 12-month period.

The following table sets forth th e average rates for the indicated customer classes for the Fiscal Years ended June 30, 2021 through June 30, 2025, including the Energy Cost Adjustment Charge, Regulatory Adjustment Charge, and Revenue Dec oupling Charge (or Revenue Decoupling Credit, as applicable).

GLENDALE WATER AND POWER

FIVE-YEAR HISTORY OF ELECTRIC SYSTEM RATES
Average Rate – Dollars Per Kilowatt Hour

Fiscal Year Ended June 30,
Customer Class 2025 2024 2023 2022 2021

Residential $0.3633 $0.2814 $0.2398 $0.2238 $0.2117
Commercial 0.2860 0.2538 0.2196 0.2056 0.2031
Industrial 0.2341 0.2043 0.1971 0.1801 0.1819
Lighting 0.0002 0.0002 0.0008 0.0008 0.0007
____________________________
Source: Glendale Water and Power.

Between Fiscal Years 2018-19 through 2022-23, the Electric System’s base rate has been increased four times. Due to the COVID-19 Pandemic, a 1% increase scheduled to become effective on July 1, 2020, was deferred one year by the City Council to July 1, 2021, and the subsequent two annual rate increases were also deferred by one year. The increased revenues from the rate increases in the base rates are intended to cover the rising costs of labor and materials and to further replenish the cash reserves.

In 2023, Glendale completed a rate study. The rate study was required to determine what if any rate increases might be needed to support the recently approved and proposed clean energy programs. The rate study also took into account the revised cost estimates for the Grayson Repower Project and the Biogas Renewable Project, as well as impacts COVID-19 may have on current and future electric sales and 170 of 280

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revenues. The rate study recommended overall system rate increases of 14.8%, 11.3% and 11.3% over three years, respectively. The City Council approved the series of rate increases in November 2023 that were to take effect January 1, 2024, July 1, 2024 and July 1, 2025, respectively. On June 3, 2025 the City Council approved a rate plan to defe r the July 1, 2025 rate increases (s cheduled to be 11.3% overall) to November 1, 2025 and reduce the increases to an overa ll system average of 5%. Additional increases to overall system rates were also approved at 2. 95% effective on November 1, 2026 and 2.95% on November 1, 2027.

The City Council has an approved cash reserve po licy for the Electric System. The currently approved level is $124.1 million. The cash reserve cons ists of moneys on deposit in an operating reserve, a contingency reserve, a rate stabilization reserve and a gas reserve. As of J une 30, 2024, $124.1 million was designated.

The following table sets forth historical percenta ge increases in rates for the indicated customer classes per the Electric Rate Plan and in the rates approved in 2018 and in 2023. Such percentage changes do not reflect changes in the Fuel Adjustment Charge (prior to 2013) or in the Energy Cost Adjustment Charge, Regulatory Adjustment Charge, and Revenue Decoupling Charge (or Revenue Decoupling Credit, as applicable) (after 2013).

GLENDALE WATER AND POWER

PERCENTAGE INCREASE IN ELECTRIC RATES

Effective
D
Overall System Residential Commercial Industrial Lighting 7/01/2007 8.1% 8.8% 7.1% 8.5% 0.0%
9/13/2013 8.0 8.8 7.2 7.9 0.0
7/01/2014 7.0 7.7 6.3 6.9 0.0
7/01/2015 5.0 5.5 4.5 4.9 0.0
7/01/2016 2.0 2.2 1.8 2.0 0.0
7/01/2017 2.0 2.2 1.8 2.0 0.0
7/01/2018 0.0 0.0 0.0 0.0 0.0
7/01/2019 0.5 3.2 (1.0) (1.2) 0.0
7/01/2020
(1) 0.0 0.0 0.0 0.0 0.0
7/01/2021 1.0 3.2 (0.3) (0.5) 0.0
7/01/2022 1.0 3.1 (0.4) (0.3) 0.0
7/01/2023 1.0 3.0 (0.3) (0.4) 0.0
1/01/2024 14.8 18.6 9.7 12.1 0.0
7/01/2024 11.3 14.0 7.5 9.4 0.0
11/01/2025 5.0 6.1 3.3 4.2 0.0
11/01/2026 2.95 3.6 2.0 2.5 0.0
11/01/2027 2.95 3.6 2.0 2.5 0.0
____________________________
(1) In June 2020, the City Council deferred the scheduled Ju ly 1, 2020 increase by one year to July 1, 2021, and deferred the subsequent two annual rate increases by one year. (2) On June 3, 2025 the City Council approved a rate plan to defer the July 1, 2025 rate increases (scheduled to be

11.3% overall) to November 1, 2025 and reduce the increases to an overall system average of 5%. Additional increases to overall system rates we re also approved at 2.95% effective on November 1, 2026 and 2.95% on November 1, 2027.

Source: Glendale Water and Power.

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Customers, Energy Sales, Revenues and Demand
The average number of customers, MWh sales and revenues derived from sales, by classification of service, during the past five Fiscal Years, are listed below.

GLENDALE WATER AND POWER

ELECTRIC SYSTEM

CUSTOMERS, SALES, REVENUES AND DEMAND

Fiscal Year Ended June 30,
2025 2024 2023 2022 2021
Number of Customers:

Residential 78,071 77,563 77,188 76,929 76,757
Commercial 13,275 13,221 13,184 13,140 13,108
Industrial 183 183 185 193 193
Other (Government) 21
21 21 21 21
Total 91,550 90,988 90,578 90,283 90,079

Megawat
t-Hour Sales:

Residential 384,218 375,266 402,751 381,594 400,862
Commercial 311,450 304,966 307,505 310,816 294,782
Industrial 288,131 284,737 280,350 283,930 273,434
Public Street & Highway
Lighting 9,210
9,226 9,245

9,185 9,173
Total Retail Energy Sales 993,009 974,195 999,852 985,525 978,251 Sales to Other Utilities(1) 104,008 224,585 397,991 419,063 482,809 Total Energy Sales 1,097,017 1,198,780 1,397,843 1,404,588 1,461,060

Revenues from Sale of Energy:

Residential $139,602,000 $105,618,000 $96,598,000 $85,439,000 $ 84,866,000 Commercial 86,172,000 74,409,000 64,563,000 61,001,000 56,915,000 Industrial 67,463,000 58,172,000 55,248,000 52,586,000 49,740,000 Public Street & Highway
Lighting 2,908,000 3,002,000 2,961,000 2,933,000 2,961,000 Sales to Other Utilities
(1) 15,044,000 20,666,000 40,113,000 29,862,000 22,875,000 Total Energy Sales $311,189,000 $261,867,000 $259,483,000 $231,821,000 $217,357,000 _____________________
(1) Fluctuations in sales to other utilities revenues were due primarily to changing market demand.

Source: Glendale Water and Power.

For the Fiscal Year ended June 30, 2025, approximately 47% of Glendale’s electric sales revenues were derived from sales to residential customers, while industrial and commercial customers represented approximately 23% and 29% of sales revenues, respectiv ely. Additional revenues, other than retail sales, were generated from sales to governmental agencies and sales to other utilities.

Within Glendale, large commercial and industrial customers are principally institutions and large corporations (such as hospitals, entertainment companies, and high-rise office buildings). No single large commercial/industrial customer acc ounted for more than 3% of total electric sales revenues during the Fiscal Year ended June 30, 2025. The top 10 industrial customers represented approximately 14% of total electric sales revenues during the Fiscal Year ended June 30, 2025. 173 of 280

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Capital Requirements
Glendale currently expects capital requirements fo r the Electric System for the current and next four Fiscal Years to aggregate approximately $364 million. This includes capital requirements such as the Grayson Repowering Project and the Biogas Renewable Generation Project at the Scholl Canyon site. See “Electric Rates and Charges” above. It is expect ed that these requirements will be funded from a combination of revenues, bond proceeds and cash r eserves of the Electric System. The Grayson Repowering Project is projected to require since inception $640 million in capital expenditures through Fiscal Year 2026-27. The Biogas Renewable Generation Project is expected to require $76 million in capital expenditures through Fiscal Year 2026-27.

The following table lists the exp ected yearly capital requirements of the Electric System for the five Fiscal Years indicated.

GLENDALE WATER AND POWER

ELECTRIC SYSTEM

CAPITAL REQUIREMENTS
($ in Thousands)

Fiscal
Year
Capital
Requirements*
2026 $274,111
2027 33,447
2028 26,025
2029 15,225
2030 15,225
Total $364,033
_____________________________
* Includes Grayson Repowering Project and Biogas
Renewable Generation Project
Source: Glendale Water and Power.

Transfers to the General Fund
The City Charter provides that the credit balance, if any, or any part thereof, in the Electric Works Revenue Fund at the end of any Fiscal Year (that is, the amount of which is in excess of the amount of all outstanding demands and liabilities unpaid from said fund on account of budget appropriations therefrom), shall be transferred to the Glendale Water and Power Surplus Fund. The Charter also provides that at the end of each Fiscal Year, up to 25% of the operating revenues of the Department for such Fiscal Year, excluding receipts from power supplied to other cities or utilities at wholesale rates, shall be transferred from the Glendale Water and Power Surplus Fund and fu rther transferred to the City’s General Reserve Fund; provided, however, that the City Council, on an annual basis, may reduce or eliminate the amount to be transferred if the City Council determines that su ch reduction or elimination is necessary to assure the sound financial position of the Department.

Since the Fiscal Year ended June 30, 2021, the Electric System has transferred between $17.5 million and $29.6 million per year from the Electric Works Revenue Fund to the City’s general fund.

Glendale’s Fiscal Year 2025-26 budget includes a transfer of $32.6 million from the Electric Works Revenue Fund to the City’s general fund.
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Indebtedness; Joint Powers Agency Obligations
Electric System Revenue Bonds. The 2026 Refunding Bonds will be secured by a pledge of and lien upon Net Income of the Electric System on a pa rity with the 2024 Series Bonds, the 2024 Refunding Bonds, the 2024 Second Series Bonds and the 2025 Seri es Bonds and any other parity obligations of the Electric System payable from Net Income of the Electric System issued from time to time. See “SECURITY AND SOURCES OF PAYMENT FOR THE BOND S” herein. In addition to joint powers agency obligations, Glendale currently has $538,710,000 million in outstanding principal amount of long- term obligations payable from net revenues of the Electric System (after the payment of operating and maintenance expenses of the Electric System, includi ng Glendale’s obligations with respect to its agreements with joint powers agen cies as described under “– Joint Po wers Agency Obligations” below) consisting of $161,920,000 aggregate principal am ount of 2024 Series Bonds, $47,050,000 aggregate principal amount of 2024 Refunding Bonds, $162, 825,000 aggregate principal amount of 2024 Second Series Bonds and $166,915,000 aggregate principal amount of 2025 Series Bonds.

Joint Powers Agency Obligations. As previously discussed, the City is a participant in the following SCPPA projects: the Palo Verde Nuclear Generating Station Project (of which no bonds are outstanding), the Southern Transmission System Project, the STS Renewal Project, the Mead-Phoenix Transmission Project, the Mead-Adelanto Transmission Project, the San Juan Unit 3 Project (which was shut down on December 31, 2017, and of which no bonds are outstanding), the Magnolia Power Project, the Prepaid Natural Gas Project, the Natural Gas Project (but the City has no obligation to pay debt service on the Natural Gas Project bonds), the Tieton Hydropower Project, the Linden Wind Energy Project, the Windy Point Project and the Milford Wind Corridor Phase II. See “– Jo int Powers Agency Resources/Remote Ownership Interests.” To the exte nt the City participates in projects developed by SCPPA, the City is obligated to pay for its proportionate share of the cost of the particular project (see, however, “– Contingent Obligations Wind Energy Projects ” below for a discussion of certain costs now covered by LADWP). In addition, the City has entere d into certain power sales contracts with IPA and others for the delivery of electric power from the Intermountain Power Project.

Agreements of the City with SCPPA (other than the agreement relating to SCPPA’s Prepaid Natural Gas Project bonds) and IPA are on a “take-or-pay” basis, which requires payments to be made whether or not projects are completed or operable, or whether out put from such projects is suspended, interrupted or terminated. Such payments represent the City’s share of current and long-term obligations.

Payment for these obligations is expected to be made from operating revenues received during the year that payment is due. All of these agreements (other than the agreements relating to SCPPA’s Prepaid Natural Gas Project bonds) contain “step-up” provisions obligating the City to pay a share of the obligations 175 of 280

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of any defaulting participant. The City’s participation and share of the principal obligations of SCPPA and IPA (without giving effect to any “step-up” provisions) are shown in the following table.

GLENDALE WATER AND POWER

OUTSTANDING IPA AND SCPPA OBLIGATIONS
(as of December 1, 2025)

Outstanding
Debt
City’s
Participation(1)
City’s Share of
Principal Amount of
Outstanding Debt(2)
IPA
Intermountain Power Project $ 112,520,000 2.044% $2,299,507 Renewal Project 1,695,130,000 4.167 70,636,067
SCPPA
STS Projec
t 72,190,000 2.274 1,641,601
STS Renewal Project 1,790,705,000 5.278 94,513,410
Magnolia Power Project(3) 187,770,000 17.254 32,397,836 Prepaid Natural Gas Project 219,555,000 23.000 50,497,650 Tieton Hydropower Project .......................... 26,585,000 50.000 13,292,500 Linden Wind Energy Project ........................ 74,765,000 10.000 7,476,500 (4) Windy Point Project/Windy Flats … ...…… 126,675,000 7.630 9,665,303 (5) Milford Wind Corridor Phase II ................... 52,135,000 4.902 2,555,658 (6) TOTAL $4,358,030,000 $284,976,032
____________________________
(1) Participation obligation is subject to increase upon default of another project participant (other than with respect to SCPPA’s Prepaid Natural Gas Project bonds).
(2) Does not include interest on the debt.
(3) Excludes bonds relating solely to City of Cerritos. (4) LADWP has purchased from Glendale its 10.0% output entitlement share and has agreed to pay costs associated therewith. (5) LADWP has purchased from Glendale its 7.630% output entitlement share and has agreed to pay costs associated therewith. (6) LADWP has purchased from Glendale its 4.902% output entitlement share and has agreed to pay costs associated therewith.

Source: Glendale Water and Power, IPA.

For the Fiscal Year ended June 30, 2025, Glendale ’s payments of debt service on its joint powers agency obligations aggregated approximately $5.7 million. Annual debt service on Glendale’s joint powers agency obligations is expected to increase to a pproximately $25 million due to the Intermountain Power Renewal Project. This projection assumes no additional future debt issuances. Unreimbursed draws under liquidity arrangements supporting joint powers agency vari able rate debt obligations bear interest at a maximum rate substantially in excess of the assumed ra tes stated above and may be subject to repayment to the liquidity provider over a significantly shorte r period than the originally scheduled payment of principal on the related bonds. Inter est rate swap agreements entered into by joint powers agencies in connection with hedged variable rate joint powers agency obligations may be subject to early termination.

In the event of early termination of a joint powers ag ency interest rate swap agreement, the joint powers agency could be obligated to make a substantial pa yment to the applicable swap provider a corresponding amount of which termination payment (proportionate to each project participants’ participation share in the related project) could be due from the applicable project participants.

Contingent Obligations for Wind Energy Projects . Glendale has entered in to three power sales agreements with SCPPA, under which SCPPA has sold to Glendale on a “take-or-pay” basis, its entitlement share of the capacity and energy in three separate projects; those being (i) an entitlement share of 10.0% of the Linden Wind Energy Project, which consists of the acquisition by SCPPA of an approximately 50 MW nameplate capacity wind powered electric generating facility comprised of 25 wi nd turbines located near 176 of 280

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the town of Goldendale in Klickitat County, Washi ngton, including the structures, facilities, equipment, fixtures, improvements and associated real and person al property and other rights and interests necessary for the ownership and operation of the generation facility and the sale of energy therefrom, (ii) an entitlement share of 4.902% of the Milford Wind Corridor Phase II Project, which consists of the purchase by SCPPA of all energy generated by a 102 MW nameplate capacity wind powered electric generating facility comprised of 68 wind turbines located near M ilford, Utah, for a term of 20 years (unless earlier terminated), and (iii) an entitlement share of 7.630% of the Windy Point/Windy Flats Project, which consists primarily of the purchase by SCPPA of a ll energy generated by a 262.2 MW nameplate capacity wind powered electric generating facility comprised of 114 wind turbines and related facilities located in the Columbia Hills area of Klickitat County, Washin gton near the City of Goldendale, for a term of 20 years (unless earlier terminated). Under each power sales agreement Glendale is obligated to pay its share of debt service on bonds or notes issued by SCPPA fo r each such project, as well as certain capital and other costs related to operation and maintenance.

In connection with each of the aforementioned projects, Glendale, SCPPA and LADWP entered into power sales agreements wherein LADWP purch ased from Glendale, and Glendale sold and assigned to LADWP, Glendale’s output entitlement share of each such project for the term of Glendale’s respective power sales agreement with SCPPA. Pursuant to each such contract, LADWP agreed to pay to SCPPA each month during the term of the respective contract , an amount equivalent to Glendale’s share of the monthly costs payable by Glendale under its respective power sales agreement with SCPPA for such output entitlement share for such month, and such amount s received by SCPPA from LADWP are applied to discharge Glendale’s obligations to pay such shar e of monthly costs under each respective power sales agreement. In addition, Glendale’s other obliga tions under each power sales agreement with SCPPA are discharged to the extent, but only to the extent, that such obligations are performed by LADWP. Except as discharged as provided in the respective agreements, the obligations of Glendale to pay monthly costs and to perform its other obligations under each power sales agreement with SCPPA are not otherwise affected and the power sales agreement continues as an obligation of Glendale. [Remainder of page intentionally left blank.]

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Historical Operating Results and Debt Service Coverage
The following table shows the historical operating results and debt service coverage during the five Fiscal Years ended June 30, 2021 through June 30, 2025 on Glendale’s outstanding Electric System bonds.

The information relating to the Fiscal Years ended June 30, 2021 through June 30, 2025 was prepared by Glendale on the basis of its audited financial statements and information derived from its audited financial statements.

GLENDALE WATER AND POWER

ELECTRIC SYSTEM

HISTORICAL OPERATING RESULTS AND DEBT SERVICE COVERAGE
($ in thousands)
Fiscal Year Ended June 30,
2025 2024 2023 2022 2021

Operating Revenues
Revenues $327,688 $261,867 $259,483 $231,821 $217,357
Other Revenues Available for Debt
Service
(1) 31,176 32,683 18,409 6,371 13,961
Total Revenues Available for Debt
Service $358,864 $294,550 $277,892 $238,192 $231,318

Operating Expenses
(2)
Production(3) $171,683 $142,589 (4) $190,083 $145,451 $141,136 Transmission & Distribution 52,377 46,312 47,884 34,657 38,428 Customer Accounting & Sales 10,223
8,869 9,689 12,070 8,340
Total Expenses $234,283 $197,770 $247,656 $192,178 $187,904 Net Income Available for Debt
Service $124,581 $96,780 $30,236 $46,014 $43,414
Debt Service
(5) $26,642 $12,173 $12,167 $12,168 $12,071
Debt Service Coverage(6) 4.68x 7.95x 2.49x 3.78x 3.60x
________________________
(1) Other revenues available for debt service include interest revenues plus other non-operating revenues less other non-operating expenses excluding interest expenses. Does not include contributions in aid. (2) Operating expenses exclude depreciation, gas depletion, capital expenditures and transfers to Glendale’s general fund (which transfers are payable after the payment of debt service). (3) Includes generation, fuel, purchase power and labor expenses. (4) Production costs for the Fiscal Year ended June 30, 2024 are lower than the two prior Fiscal Years due to (i) operation of a single unit of the Grayson Power Plant, as all units except for Unit 9 were taken offline as of June 30, 2023 in preparation for demolition; (ii) moderate weather during the summer months of 2023; and (iii) lower natural gas prices in the spot markets relative to prior Fiscal Years. (5) Represents debt service on Glendale’s outstanding Electric System revenue bonds. (6) Increase in Debt Service Coverage for the Fiscal Year en ded June 30, 2024 due to decrease in production costs, and increase in interest income and rates.

Source: Glendale Water and Power.

The following Statement of Net Position information for the five Fiscal Years ended June 30, 2021 through June 30, 2025 has been prepared by Glendale based upon audited financial statements. 178 of 280

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GLENDALE WATER AND POWER

ELECTRIC SYSTEM

STATEMENT OF NET POSITION
($ in thousands)
Fiscal Year Ended June 30,
2025 2024 2023 2022 2021
ASSETS
Current assets:

Pooled cash and investments $254, 951 $ 97,111 $85,662 $136,560 $149,657 Cash with fiscal agent 37, 537 25,926 2,543 2,332 2,538 Investment with fiscal agent 2,398 2,398 2,398 2,398 2,398 Interest receivable 2,722 1,661 1,709 1,422 1,063
Investment Gas/Electric Commodity 7,023 9,023 8,018 - - Pooled Restricted cash and investments - 64,947 - - -
Accounts receivable, net 39,478 35,317 28,314 33,063 31,889 Inventories 20,615 12,809 11,484 9,704 9,401
Prepaid items 10,195 31,953 28,652 8,565 8,381 Total current assets 374,919 281,145 168,780 194,044 205,327 Non-current assets:

Capital assets:

Land 6,306 6,306 6,306 6,306 6,306
Natural gas reserve 22,178 22,176 22,175 22,171 22,166 Buildings and improvements 63,770 63,758 63,970 73,722 73,716 Machinery and equipment 449,716 446,307 440,728 512,684 513,741 Intangible assets 1,088 975 422 327 327
Less: accumulated depreciation (382,495) (374,182) (370,730) (414,831) (398,901) Natural gas depletion (16,362) (15,811) ( 15,162) (14,481) (13,770) Amortization (686) (544) (276) (241) (156)
Construction in progress 418,945 162,863 29,695 9,086 8,075 Lease assets 89 212 212 203 - Total capital assets 562,549 312,060 177,340 194,946 211,504 Pooled designated and invested cash 154,412 151,354 151,435 124,100 124,100 Restricted cash 12,306 51,626 44,463 41,417 24,032 Leases receivable 911 941 993 1,016 - Total non-current assets 730,178 515,981 374,231 361,479 359,636 Total assets 1,105,097 797,126 543,011 555,523 564,963 Deferred outflows of resources related to pensions 14,045 22,153 25,077 8,898 9,569
Loss on refunding 2,865 3,093 3,391 3,627 3,863 Deferred outflows of resources related to OPEB 281 350 408 467 496 Total assets and deferred outflows of resources 1,122,288 822,722 571,887 568,515 578,891

LIABILITIES AND NET POSITION
Current liabilities:

Accounts payable $110,486 $ 45,097 $29,236 $19,250 $12,035 Interest payable 8,893 4,765 2,447 2,572 2,691 Bonds payable, due in one year 14,658 10,900 7,431 7,126 6,841 OPEB liability 54 69 - - -
Deposits 2,557 2,224 1,726 1,355 1,277 Total current liabilities 136,648 63,055 40,840 30,303 22,844 Noncurrent liabilities:

Bonds payable 472,466 301,125 126,097 133,529 140,655 Leases and subscriptions payable 300 376 86 125 -
OPEB liability 1,051 1,096 1,781 2,156 2,632 Net pension liability 67,312 73,326 72,144 37,753 68,975 Total noncurrent liabilities 541,129 375,923 200,108 173,563 212,262 Total liabilities 677,777 438,978 240,948 203,866 232,474 Deferred inflows resources related to pensions and OPEB 6,190 8,048 4,986 23,090 334 Total liabilities & deferred inflows of resources 683,967 447,026 245,934 226,956 235,440 Net position(1):
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Net investment in capital assets 19,102 59,209 43,249 61,184 72,099 Restricted For
Carbon Emissions 10,255 50,949 37,160 26,718 17,443
Restricted investment - - - 7,281 919
Low carbon fuel standard 2,051 677 1,634 1,749 -
SCAQMD emission controls - - 5,669 5,669 5,669
Unrestricted 406,913 264,861 238,241 238,958 247,321 Total net position $438,321 $ 375,696 $325,953 $341,559 $343,451 _____________________
(1) In 2021, a prior period adjustment of $2, 398,000 was made to decrease the beginning net position of the Electric Utility. In prior years, the OPEB liability was only recorded in the governmental activities, because of the immateriality of the allocated liability to the enterprise funds. In Fiscal Year 2020-21, due to the decrease in the discount rate, the OPEB liability increased and it became a material liability in the Electric Utility.

Source: Glendale Water and Power.

Wildfire Mitigation Measures
Approximately 62% the City encompasses geographical areas classified by CPUC fire threat maps as “Tier 2” or “Tier 3” fire-threat areas (i.e., areas of elevated or extreme risk from utility-associated wildfires). However, many of these areas do not cont ain any Electric System assets that could ignite a wildfire and many others are require d to be managed by the property owners to be cleared for hazardous vegetation. The remaining areas that contain Electric System assets and that are not areas required to be managed by private owners constitute approximately 0.47% of the City’s total area.

The City currently has undertaken a number of wildfire mitigation measures. These include:
• The City responds to red flag wind warnings issued for the area by the National Weather Service by de-energizing (without loss of cu stomer load) the transmission line of the Electric System that runs across uninhabited hi lly terrain with elevated fire risk. In addition, GWP is looking into employing the broken conductor technology and fast acting protection scheme to mitigate the risk of fire furthermore. • The City has installed fire resistant wrap/coa ting poles in high fire risk locations and has installed covered conductors (in selected Tier 2 areas). • The City expanded vegetation management to exceed minimum clearance requirements by trimming trees down to the telecommunications level.
• The City installed devices to minimize the risk of fire in brush areas from ejecting a blown fuse.
• To evaluate the effectiveness of its wildfire plan, the City developed metrics posted on an internal website to track the number of electrical assets replaced in Tier 2 and Tier 3 areas. • The City expanded asset inspections and refine d its master plan to address end-of-life infrastructure management and mitigate agai nst fire risks from downed power lines or failed equipment that can spark and ignite wildfires. This inspection / assessment program includes pole inspections, vault inspections, a nd inspections of all assets connected to (or within) these assets, including (but not limite d to) transformers, crossarms, insulators, conductors, cables, landings, capacitor bank s, voltage regulators, and all other attachments. In addition to assessing the condition of Electric System assets, the program provides a mechanism to prioritize repair and replacement projects.

State fire-threat maps and fire-threat areas are revised from time to time. In March 2025, the California Department of Forestry and Fire Protecti on (hereinafter, “CalFire”) released updated wildfire 180 of 280

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hazard severity zone maps for the Southern Calif ornia region. These updated maps identify areas as “moderate,” “high,” and “very high” wildfire hazard severity zones in “local responsibility areas,” where local fire departments are responsible for responding to fires, in order to reflect zones in California that are susceptible to wildfires. The updated maps increase th e acreage in the City that is identified as a “very high” wildfire hazard severity zone and add identifie d areas of “moderate” and “high” wildfire hazard severity zones (which categories were not previously included in earlier versions of the CalFire fire hazard severity zone maps). These wildfire hazard severity zone maps differ from the CPUC Fire-Threat Maps referenced above. The CPUC Fire-Threat Map is designed specifically for identifying areas where there is an increased risk for utility associat ed wildfires. The updated CalFire wildfire hazard severity zone maps are being evaluated by the Department for their impact on future wildfire mitigation plans.

Litigation
At any given time, including the present, there are certain claims and disputes that arise in the normal course of the Electric System’s enterprise activiti es. Such matters could, if determined adversely to Glendale or the Electric System, affect expenditures by Glendale, and in some cases, its Electric System revenues. The management of the Department is of the view that no pending actions are likely to have a material adverse effect on Glendale’s ability to pay its Electric System obligations.

CERTAIN RISK FACTORS
The purchase of the Bonds involves investment risk. Such risk factors include, but are not limited to, the following matters.

Bonds are Limited Obligations
The Bonds are special, limited obligations of th e City. The Bonds do not constitute a debt or liability of the City, the State or of any political subdivision thereof within the meaning of any constitutional or statutory provision, or a pledge of the faith and credit of the City, the State or of any political subdivision thereof, but shall be payable, except to the extent of certain available moneys pledged therefor, solely from Net Income. Neither the faith and credit nor the taxi ng power of the City, the State or of any political subdivision thereof is pledged to the payment of the principal of or the interest on the Bonds. The issuance of the Bonds shall not directly or indirectly or con tingently obligate the City, the State or any political subdivision thereof to levy or to pledge any form of taxation whatsoever therefor or to make any appropriation for their payment.

Limitations on Remedies
The enforceability of the rights and remedies of th e owners of the Bonds and the Trustee, and the obligations incurred by the City, may be subject to the following, among others: the limitations on legal remedies against cities in California; the federal ba nkruptcy code and applicable bankruptcy, insolvency, reorganization, moratorium or sim ilar laws relating to or affecting the enforcement of creditors’ rights generally, now or hereafter in effect; principles of equity which may limit the specific enforcement under State law of certain remedies; the exercise by the United States of America of the powers delegated to it by the U.S. Constitution; and the reasonable and necessary exercise, in certain exceptional situations, of the police power inherent in the sovereignty of the State and its governmental bodies in the interest of serving a significant and legitimate public purpose. Bankruptcy proceedings, or the exercise of powers by the federal or State government, if initiated, could subject the owners of the Bonds to judicial discretion and interpretation of their rights in bankruptcy or othe rwise, and consequently may entail risks of delay, limitations or modification of their rights. Remedi es may be limited since the Electric System serves an essential public purpose.
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Electric System Expenses and Collections
The electric utility costs (including those of the City’s Electric System) are affected by numerous factors, many of which are macroeconomic industry va riables that are beyond its control. Some of the recent factors include inflation, supply chain disruptions and delays, labor shortages and rising labor costs, and rising interest rates. Inflation and other factors can increase the price of fuel and commodities integral to electric system operations. The United States Federal Reserve has taken intermittent actions resulting in increased interest rates, which can result in an increase to the costs of capital. The global economy has also faced supply chain shortages and delays in recent years. Global economic and geopolitical crises may also lead to increases costs to electric systems. The occurrence of global events and macroeconomic factors and their impacts are difficult to predict but may have a material adverse effect on the electric system results of operations and financial condition, including for the City’s Electric System. New environmental regulations and laws or other expenses could reduce the Net Income and could require substantial increases in rates or charges. There can be no assurance that the City’s expenses for the Electric System will remain at the levels described in this Official Statement.

Although the City has covenanted to collect rates for the Electric System at certain levels, there can be no assurance that such amounts will be collected in the amounts and at the times necessary to make timely payments with respect to the 2026 Refunding Bonds.

Rate Regulation
The authority of the City to impose and collect rates and charges for power service is not currently subject to the direct regulatory jurisdiction of the CPUC or the Federal Energy Regulatory Commission (“FERC”), and presently no other regulatory authority di rectly limits or restricts such rates and charges.

See “THE ELECTRIC SYSTEM–Electric Rates and Charg es.” It is possible that future Constitutional, legislative or regulatory changes could subject the rates, charges and/or service area of the City to the direct jurisdiction of the CPUC or FERC or to other limitations or requirements under Federal or state law.

Certain Factors Affecting the Electric Utility Industry The electric utility industry in general has been, and in the future may be, affected by a number of other factors which could adversely impact the fi nancial condition and competitiveness of many electric utilities and the level of utilization of generating and tr ansmission facilities. The City is unable to predict what impacts such factors will have on the busin ess operations and financial condition of the Electric System, but the impact could be significant. This O fficial Statement includes a brief discussion of certain of these factors. See “DEVELOPMENTS IN THE CALIFORNIA ENERGY MARKETS” and “OTHER FACTORS AFFECTING THE ELECTRIC UTILITY INDUSTRY.”
Proposition 218 and Proposition 26
Proposition 218, a State ballot initiative known as the “Right to Vote on Taxes Act,” was approved by the voters of the State of California on November 5, 1996. Proposition 218 added Articles XIIIC and XIIID to the State Constitution. Article XIIIC im poses a majority voter approval requirement on local governments (including the City) with respect to taxes for general purposes, and a two-thirds voter approval requirement with respect to taxes for special purposes . Article XIIID creates additional requirements for the imposition by most local governments of general ta xes, special taxes, a ssessments and “property- related” fees and charges. Article XIIID explicitly exempts fees for the provision of electric service from the provisions of such article.
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Article XIIIC expressly extends the people’s initia tive power to the reduction or repeal of local taxes, assessments, and fees and ch arges imposed prior to its effective date (November 1996). The California Supreme Court held in Bighorn-Desert View Water Agency v. Verjil, 39 Cal.4th 205 (2006) that, under Article XIIIC, local voters by initiative may re duce a public agency’s wa ter rates and delivery charges, as those are property-related fees or charges w ithin the meaning of Article XIIID, and noted that the initiative power described in Article XIIIC may ex tend to a broader category of fees and charges than the property-related fees and charges governed by Article XIIID. Moreover, in the case of Bock v. City Council of Lompoc , 109 Cal.App.3d 52 (1980), the Court of Appeal determined that an electric rate ordinance was not subject to the same constitutional restrictions that are applied to the use of the initiative process for tax measures so as to render it an imprope r subject of the initiative process. Thus, electric service charges (which are expressly exempted from the provisions of Article XIIID) may be subject to the initiative provisions of Article X IIIC, thereby subjecting such fees and charges to reduction by the electorate. The City has been advised by outside counsel that even if the electric rates of the City are subject to the initiative power, under Article XIIIC or otherwise, the electorate of the City would be precluded from reducing its electric rates and charges in a manner mate rially and adversely affecting the payment of the 2026 Refunding Bonds by virtue of the “impairment of contracts clause” of the United States Constitution.

The California electorate approved Proposition 26 at the November 2, 2010 election, amending Article XIIIC of the California Constitution. Pro position 26 was designed to supplement tax limitations California voters adopted when they approved Pr oposition 13 in 1978, and Proposition 218 in 1996.

Proposition 26 applies by its terms to any levy, char ge or exaction imposed, increased or extended by a local government on or after November 3, 2010. Proposition 26 deems any such levy, charge or fee to be a “tax”, requiring voter approval under Article XIIIC unl ess it comes within one of the listed exceptions.

Proposition 26 expressly excludes from its definition of a “tax,” among other things, a “charge imposed for a specific government service or product provided directly to the payor that is not provided to those not charged, and which does not exceed the reasonable cost s to the local government of providing the service or product.” Proposition 26 is applicable to the elect ric rates of governmental entities such as the City’s; therefore, newly adopted rates must conform to its requirements.

Proposition 26 is subject to interp retation by California courts, including the extent to which it is applicable to pre-existing electric rates and general f und transfers. A number of lawsuits have been filed against public agencies in California relating to electric utility fund transfers. In Citizens for Fair REU Rates v. City of Redding (filed on January 20, 2015 and modified on February 19, 2015), for example, the California Court of Appeal considered a ratepayer cha llenge to a “payment in lieu of taxes” (or “PILOT”) required by the City of Redding to be made by its electric utility as an annual budgetary transfer amount without voter approval. The city’s PILOT was desi gned to compensate the general fund for the costs of services that other city departments provide to the electric utility. The amount of the PILOT was equivalent to the ad valorem taxes the electric utility would have had to pay if the electric utility were privately owned.

The suits alleged that the PILOT was passed through to the city’s electric utility customers as part of the rates and charges for electric service in excess of the reasonable costs to the c ity of providing electric service. The Court of Appeal determined that Proposition 26 has no retroactive effect as to local taxes that existed prior to November 3, 2010, but found that since the PILOT was subject to the City Council’s recurring discretion, the PILOT did not escape the purview of Proposition 26. The Court of Appeal concluded that the PILOT constituted a “tax” under Pr oposition 26 for which the city must secure voter approval unless the city proved that the amount collected was necessary to cover the reasonable costs to the city of providing electric service. On April 29, 2015, the California Supreme Court granted review of the decision of the Court of Appeal. The California Supreme Court rendered its decision on August 27, 2018, reversing the judgment of the Court of Appeal. The California Supreme Court determined that the budgetary transfer from the City of Redding electric u tility to the city’s general fund, calculated by using the PILOT, itself is not the type of exaction that is subject to Article XIIIC of the California Constitution.

The court reasoned that it is only the City of Redding electric utility rate, not the PILOT, that is imposed 183 of 280

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on customers for electric service. The California Supreme Court concluded that because the total retail rate revenue of the electric utility was insufficient to cover the electric utility’s uncontested operating expenses (other than the PILOT) in the year s at issue, the challenged rate di d not exceed the reasonable costs of providing electric service, and therefore did not constitute a tax.

The City is unable to predict at this time how Propositions 218 and 26 will ultimately be interpreted by the courts in the context of elect ric system rates or what their u ltimate impact of Proposition 218 or 26 will be.

Future Initiatives
Articles XIIIC and XIIID and the amendments effected thereto by Proposition 26 were adopted as measures that qualified for the ballot pursuant to the State’s initiative process. From time to time, other initiatives have been, and could be, proposed, and if qualified for the ballot, could be adopted affecting the City’s revenues or the City’s ability to expend revenues. The City is unable to predict either the likelihood of qualification for ballot or passage of these measures or the nature and impact of these measures on the finances or operations of the Electric System.

Loss of Tax Exemption
As discussed under the caption “TAX MATTERS,” in terest with respect to the 2026 Refunding Bonds could become includable in gross income for purposes of federal income taxation retroactive to the date of execution and delivery of the 2026 Refunding Bonds as a result of future acts or omissions of the City in violation of certain covenants contained in the Indenture of Trust or through legislation. Should such an event of taxability occur, the 2026 Refunding Bonds are not subject to special redemption or any increase in interest rate and will remain outstandi ng until maturity or until redeemed pursuant to the Indenture of Trust.

Casualty Risk
Any natural disaster or other physical calamity could have the effect of reducing revenues through damage to the Electric System and/or adversely affecting the economy of the City and the surrounding area.

For example, the City is located in a region of seismic activity. The principal earthquake fault in the Los Angeles and City area is the San Andreas Fau lt, which extends an estimated 700 miles from north of the San Francisco area to the Salton Sea in Southern California. At its nearest point, it is approximately 30 miles from the City.

Announcements on January 20, 1995, by the scientis ts associated with the Southern California Earthquake Center indicated that the probability of a magnitude 7 or greater earthquake on the Richter Scale occurring in Southern California is between 80% and 90% in the 30 year period following the announcement. It is impossible to accurately predict the cost or effect of such an earthquake on the Electric System and on the City’s ability to provide continued uninterrupted service to all parts of its service area.

A future earthquake could cause significant damage to the City and the facilities of the Electric System and ratepayer properties and could adversely affect the ability of the City to meet all of its financial obligations. On January 17, 1994, an earthquake of approximately 6.6 magnitude on the Richter Scale was centered in the northwest San Ferna ndo Valley section of the City of Los Angeles. It caused widespread damage to commercial and residential structures and to major freeways, causing business interruptions and disrupting the normal flow of traffic. Its damaging effects were felt over a large area, and the providing to the City of transmission services by the Cities of P asadena and Burbank over the Pacific Intertie DC 184 of 280

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Transmission Line was temporarily interrupted because of damage to the Sylmar Converter Station. The Electric System was not significantly damaged by this earthquake.

The City is located in or near areas susceptible to wildfires that could damage Electric System facilities or ratepayer properties. The City has undert aken mitigation measures to address wildfire risk to its Electric System facilities. See “THE ELECTRIC SYSTEM - Wildfire Mitigation Measures.” However, there is no assurance that these measu res will necessarily avoid significant damage to Electric System assets.

In the event of a severe earthquake, damaging wildfire or other natural disaster or physical calamity, the ability of the City to deliver electricity and th e demand for electricity could be diminished, and the amount of moneys available to pay debt service on the Bonds could be reduced significantly.

Cybersecurity
The City, including the Electric System, like ma ny other public and private entities, relies on computer and other digital networks and systems to conduct its operations. As a recipient and provider of personal, private or other sensitive electronic informati on, the City is potentially subject to multiple cyber threats, including without limitation hacking, viruses, ransomware, malware and other attacks. United States government agencies have in the past issued warnings indicating that critical infrastructure sectors such as electric systems may be specific targets of cybersecurity threats.

The City has implemented practices, engineering and procedures and has made investments to protect against and mitigate the adverse effects of cyberattacks, including steps to harden its cybersecurity and provide training for employees in cyber awareness and the use of the City’s digital networks and systems. The City currently maintains limited commercial cyber insurance coverage, but is not required to do so. No assurance can be given that the City’s e fforts to manage cyber threats and attacks will be successful in all cases, or that any such attack will not materially impact the operations or finances of the City or disrupt the operation of the Electric System.

See the caption “OTHER FACTORS AFFECTING THE ELECTRIC UTILITY INDUSTRY - Federal Policy on Cyber Security.”
Global Health Emergencies
A pandemic, epidemic or outbreak of an infectious disease can have significant adverse health and financial impacts on global and local economies. For example, beginning in 2020, the COVID 19 pandemic negatively affected economic activity throughout the world, including the United States and the State of California. The initial impacts of stay-at home orders globally were unprecedented, with commerce, travel, asset values and financial markets experiencing disr uptions worldwide. While the COVID 19 pandemic impacted the City in certain respects, the City did not experience a mate rial adverse impact to the Electric System’s operations or its ability to meet its financ ial obligations as a result of the COVID 19 pandemic.

While the declarations of COVID 19 as a public health emergency have been lifted, future pandemics and other widespread public health emergencies can and do arise from time to time. The City cannot predict whether another national or localized outbreak of highly contagious or epidemic disease in the future could negatively impact the City’s Electric System operations and finances and/or the economy of its service area. 185 of 280

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DEVELOPMENTS IN THE CALIFORNIA ENERGY MARKETS
State Legislation and Regulatory Proceedings
A number of bills affecting the electric utility in dustry have been introduced or enacted by the California Legislature in recent years. In general, these bills regulate greenhouse gas emissions and provide for greater investment in energy efficiency a nd environmentally friendl y generation and storage alternatives, principally through more stringent re newable resource portfolio standard requirements and more aggressive emissions reduction programs to combat the effects of climate change. Enacted legislation has also focused on addressing issues relating to wild fire risks and occurrences in California, including imposing certain requirements on electric utilities in c onnection with planning for and mitigating such occurrences and risks. The following is a brief summary of certain of th ese bills that have been enacted.

This discussion does not purport to be comprehensive or definitive, and these matters are subject to change subsequent to the date hereof.

Greenhouse Gas Emissions – Background; Global Warming Solutions Act. In September 2006, then-Governor Schwarzenegger signed into law Assemb ly Bill 32, the Global Warming Solutions Act of 2006 (hereinafter, the “GWSA”), which became eff ective on January 1, 2007. The GWSA prescribed a statewide cap on global warming pollution with a goal of returning to 1990 greenhouse gas emission levels by 2020 as prescribed by Executive Order S-3-05 of the Governor issued on June 1, 2005. In September 2016, then-Governor Brown signed into law Senate Bill 32 (“SB 32”), an amendment to the GWSA. SB 32, which became effective as law on January 1, 2017, codified a new interi m statewide greenhouse gas emission reduction target, consistent with Executive Order B-30-15, signed by Governor Brown on April 29, 2015. SB 32 requires the California Air Resources Board (“CARB”), which, pursuant to the GWSA, is the designated state agency charged with monitori ng and regulating sources of emissions of greenhouse gases, to ensure that statewide greenhouse gas emissions are reduced to at least 40% below the 1990 level no later than December 31, 2030.

Senate Bill 350 (“SB 350”), signed by then-Gove rnor Brown in October 2015 (and additionally discussed under “– Renewables Portfolio Standard” below), requires CARB, in consultation with the CPUC and the California Energy Commission (the “CEC”), to establish 2030 greenhouse gas emission targets for each electric utility in the State. At present, these targets are non-binding, and primarily intended to help the State measure progress toward the 2030 statewide goal outlined in SB 32. The targets, however, are an input to the integrated resource plans that are required of the State’s 16 largest local publicly-owned electric utilities (“POUs”), including the City’s Electric System. See “– Renewables Portfolio Standard” below.

The GWSA also established an annual mandatory reporting requirement for all investor-owned utilities (“IOUs”), POUs, and other load-serving entiti es (electric utilities providing energy to end-use customers) to inventory and report greenhouse gas emissions to CARB, required CARB to adopt regulations for significant greenhouse gas emission sources (allowing CARB to design a “cap-and-trade” program) and gave CARB the authority to enforce such regulations beginning in 2012. The City is complying with the applicable reporting requirements under the GWSA.

Assembly Bill 1279 (“AB 1279”) established additional greenhouse-gas emission reduction goals.

AB 1279 declares the policy of the State both to ac hieve net-zero greenhouse gas emissions as soon as possible, but no later than 2045, and achieve and maintain net negative greenhouse gas emissions thereafter, and to ensure that by 2045, Statewide anthropogenic greenhouse gas emissions are reduced to at least 85% below the 1990 levels. Under AB 1279, “net zer o greenhouse gas emissions” means emissions of greenhouse gases to the atmosphere are balanced by re movals of greenhouse gas emissions over a period of time. At present, these targets are non-binding, and primarily intended to help the State progress toward the 2045 Statewide goal outlined in AB 1279.
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Greenhouse Gas Emissions – Cap-and-Trade Program. Pursuant to the GWSA, CARB has adopted a series of regulations implementing a cap-and-trade program. The initial cap-and-trade regulation became effective on January 1, 2012. Emission comp liance obligations under the regulation began on January 1, 2013. The cap-and-trade program covers sources accounting for 85% of California’s greenhouse gas emissions, the largest program of its type in the United States.

The cap-and-trade regulations impose aggregate emissions limitations on the electricity generation industry in California. The cap-and-trade regulations require all regulated entities to obtain and submit to CARB compliance instruments (allowances and/or o ffsets) with respect to greenhouse gas emissions relating to its State generation activities, as well as for imported electricity from dedicated out-of-state resources. The cap-and-trade program includes the di stribution of carbon allowanc es equal to the annual emissions cap. The City, like othe r electric utilities, receives administra tive allocations of allowances for some of its expected greenhouse g as emissions. Additional allowances are auctioned quarterly. Entities that emit greenhouse gases at levels above those for whic h they receive administrative allocations, if any, must purchase the additional allowa nces they require at the CARB auctions or on the secondary market from other covered entities with surplus allowances. IOUs are required to auction the allowances they received for free from CARB. This requirement also applies to POUs that sell electricity into the California Independent System Operator Corporation (“CAISO” ) markets, other than sales of electricity from resources funded by municipal tax-exempt debt wh ere the POU makes a matched purchase to serve its traditional retail customers. Utilities required to sell th eir allowances in the auctions are then required to purchase allowances to meet their compliance obliga tions, and use any remaining proceeds from the sale of their allocated allowances for the benefit of their ratepayers and to meet the goals of the GWSA. POUs that do not sell into the CAISO markets, and those th at sell into the CAISO markets only electricity from resources funded by municipal tax-exempt debt, have three options (which are not mutually exclusive) once their allocated allowances have been distributed to them. They can (i) place allowances in their compliance accounts to meet compliance obligations, (ii) place allowances in the compliance account of a joint powers agency or public power utility that generates power on their behalf, and/or (iii) auction the allowances and use the proceeds to benefit their ratepayers and meet the goals of the GWSA.

The cap-and-trade program also allows covered entities to use offset credits for compliance (initially not exceeding 8% of a covered entity’s compliance obligation through the end of 2020). Offsets can be generated by emission reduction projects in sect ors that are not regulated under the cap-and-trade program. CARB has approved the following types of offset projects: urban forest projects, reforestation projects, destruction of ozone-depleting substances, livestock methane management projects, destruction of fugitive coal mine methane and rice cultivation pr actices. CARB will continue to consider additional and updated offset protocols, including international, sector-based offsets; CARB is also required to reform the offset program pursuant to AB 398 as discussed below.

On July 17, 2017, the California Legislature passed AB 398, extending the cap-and-trade program from 2021 to 2030. AB 398 passed both houses with a 2/3 supermajority vote, which protects the legislation from certain legal challenges. Under AB 398, the di stribution of free carbon allowances is continued for certain industrial sectors. However, AB 398 imposes st ricter limits on the use of offset credits for compliance, with 4% of a covered entity’s compliance obligation to be allowed to be satisfied with offsets from 2021 through 2025, and 6% thereafter. In addition, one-half of any such offsets will be required to be in California. Under AB 398, CARB was directed to address the following: establish a price ceiling, offer non-tradeable allowances at two price containment points below the price ceiling, transfer current vintages unsold for more than 24 months to the allowance price containment reserve, evaluate and address allowance over-allocation concerns, set industry assistance factors for allowance allocation, and establish allowance banking rules. Under AB 398, CARB was directed to include cost containment provisions to keep allowance prices from rising too high and pushing business expansion outside of the state (referred to as “leakage”). AB 398 was passed in conjunction with AB 617, which strengthens the monitoring of criteria 187 of 280

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air pollutants and toxic air contaminants in local communities. Amendments to the cap-and-trade regulations to reflect the requirements of AB 398 ha ve been adopted by CARB and went into effect on April 1, 2019.

California’s cap-and-trade program is linked to th e equivalent program in Quebec, Canada. The program may in future years be linked to additio nal Canadian provincial cap-and-trade programs, and possibly other U.S. state cap-and-trade programs. The City is unable to predict at this time the full impact of the cap-and-trade program over the long-term on th e Electric System or on the electric utility industry generally or whether any additional changes to the adopted program will be made.

Since the advent of the cap-and-trade program in 2012, regulations by CARB have provided the electric sector, including the Electric System, with sufficient allocated greenhouse gas allowances or credits to cover existing operations in meeting retail load obligations. The City may bank allocated allowances in its compliance account to satisfy a portion of its ongo ing compliance obligations. The City may also buy or sell allowances in the quarterly auctions or on th e bi-lateral market to meet its additional compliance obligations. The City could be adversely affected by future changes in the allowance allocation methodology or by future reductions in the quantity of allowances allocated to it under CARB regulations, if the greenhouse gas emissions of its resource portf olio are in excess of the allowances administratively allocated to it and it is required to purchase compliance instruments on the market to cover its emissions.

In September 2025, AB 1207 was signed into law. AB 1207 reauthorizes and extends California’s cap-and-trade program from 2030 to 2045 (which program is to be now referred to as the California Cap- and-Invest Program pursuant to the provisions of AB 1207).

CARB is in the process of developing amendments to the California Cap-and-Invest Program regulations. The scope of the potential amendments under consideration by CARB includes, among other things, removing 118 million allowances from the program from 2027-2030 and using an updated integrated energy forecast to adjust utility allowance allocations through 2030, which has the effect of reducing the total number of budgeted allowances starting in 2027. The proposal affects California POUs and electric utilities to differing degrees, depending on load growth and their energy and capacity portfolios. CARB is aiming to finalize the rulemaking by September 2026, in time to influence allowance allocation for 2027.

See “—Federal Executive Orders Regarding State Laws” below.

Greenhouse Gas Emissions – Emissions Performance Standard. Senate Bill 1368 (“SB 1368”) became effective as law on January 1, 2007. SB 13 68 provided for an emission performance standard (“EPS”), restricting new investments in baseload fo ssil fuel electric generating resources that exceed a specified rate of greenhouse gas emissions. SB 1368 allows the CEC to establish a regulatory framework to enforce the EPS for POUs such as the City’s Electric System. The CEC regulations prohibit any investment in baseload generation that does not meet the EPS of 1,100 pounds of carbon dioxide (“CO2”) per MWh of electricity produced, with limited excepti ons for routine maintenance, requirements of pre- existing contractual commitments, or threat of significant financial harm.

As modified, the EPS regulations require a POU to post a notice of a public meeting at which its governing board will consider any expenditure over $2.5 million to meet environmental regulatory requirements at a non-EPS compliant baseload facility. In addition, each POU is required to file an annual notice identifying all investments over $2.5 million th at it anticipates making during the subsequent 12 months on non-EPS compliant baseload faciliti es to comply with environmental regulatory requirements. This requirement is waived for any POU that has entered into a binding agreement to divest within five years of all baseload facilities exceeding the EPS. CEC staff has confirmed that the $2.5 million 188 of 280

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threshold applies to an individual investment by each utility, and not the combined investment of all participants in a project.

Energy Procurement and Efficiency Reporting. Senate Bill 1037 (“SB 1037”) was signed by then Governor Schwarzenegger on September 29, 2005. It re quires that each POU, including the City, prior to procuring new energy generation resources, first acquire all available energy efficiency, demand reduction, and renewable resources that are cost-effective, reliabl e and feasible. SB 1037 also requires each POU to report annually to its customers and to the CEC its investment in energy efficiency and demand reduction programs. The City has complied with such reporting requirements.

Assembly Bill 2021 (“AB 2021”), signed by th en Governor Schwarzenegger on September 29, 2006, requires that POUs establish, report, and explain the basis of the annual energy efficiency and demand reduction targets by June 1, 2007 and every three years thereafter for a ten-year horizon. A subsequent amendment, Assembly Bill 2227, extended the time interval for establishing annual targets from every three years to every four years. The City has complied with this reporting requirement under AB 2021. The information obtained from the POUs from these reporting requirements is utilized by the CEC to present the progress made by the POUs towards the statewide goal to double energy efficiency savings in electricity and natural gas final end uses by 2030 , to the extent doing so is cost effective, feasible, and does not adversely impact public health and safety, as prescrib ed in SB 350. In addition, the CEC can provide recommendations for improvement to assist each PO U in achieving cost-effective, reliable, and feasible savings in conjunction with the established targets fo r reduction. See “– Renewables Portfolio Standard” below.

SB 350 further requires the CEC to establish annual targets for statewide energy efficiency savings and demand reduction that will achieve a cumulative doubl ing of statewide energy efficiency savings in electricity and natural gas final end uses of retail cu stomers by January 1, 2030. The CPUC is required to establish energy efficiency targets for electrical and gas corporations consistent with this goal, and specify programs that may be used to achieve the goal. PO Us are required to establish annual targets for energy efficiency savings and demand reducti on consistent with the goal and to report those targets to the CEC every four years for the next 10-year period. The bill provides guidance as to what measures qualify and requires an evaluation of feasibility and cost effectiveness in setting annual targets for those savings.

Biomass Legislation. Senate Bill 859 (“SB 859”), signed by then-Governor Brown in September 2016, requires IOUs and POUs that serve more than 100,000 customers, to procure, through financial commitments of five years, their proportionate shares (based on the ratio of the utility’s peak demand to the total statewide peak demand), of 125 MW of cumu lative rated capacity from existing bioenergy projects that generate energy from (a) a byproduct of sustaina ble forestry management and (b) high fire-hazard zones. Senate Bill 901 (“SB 901”), signed into law in September 2018, requires POUs with certain biomass contracts to seek to extend their term five years past the original expiration date. The City currently has approximately 90,000 customers and, for that reas on, is currently not subject to the procurement requirements of SB 859 and SB 901. Senate Bill 1109 (“SB 1109”) signed into law by Governor Newsom on September 16, 2022 (and effective on January 1, 2023) modifies SB 859’s requirement, instead requiring IOUs and POUs that serve more than 100,000 customers to procure, by December 1, 2023, through financial commitments of five to 15 years, their proportionate shares (based on the ratio of the utility’s peak demand to the total statewide peak demand), of 125 MW of cumulative rated capacity from existing bioenergy projects that generate energy from (a) a byproduct of sustainable forestry management and (b) high fire- hazard zones. The City is similarly not subject to SB 1109.

Renewables Portfolio Standard. Senate Bill X1-2 (“SBX1-2”), the California Renewable Energy Resources Act, was signed into law by Governor Brown on April 12, 2011. SBX1-2 required each POU to adopt and implement a renewable energy resource pr ocurement plan and established targets for three 189 of 280

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compliance periods for the procurement of at leas t the following amounts of electricity products from eligible renewable energy resources, which could in clude renewable energy certificates (“RECs”), as a proportion of total kilowatt hours sold to the utility ’s retail end-use customers: (i) over the 2011-2013 compliance period, an average of 20% of retail sales from January 1, 2011 to December 31, 2013, inclusive; (ii) over the 2014-2016 compliance period, a total equa l to 20% of 2014 retail sales, 20% of 2015 retail sales, and 25% of 2016 retail sales; and (iii) over the 2017-2020 compliance period, a total equal to 27% of 2017 retail sales, 29% of 2018 retail sales, 31% of 2019 retail sales, and 33% of 2020 retail sales. The governing boards of POUs are responsible for implemen ting the requirements of SBX1-2, rather than the CPUC, as is the case for the IOUs. In addition, the CEC was given certain enforcement authority for POUs and CARB was given the authority to set penalties. The CEC has developed detailed rules to implement SBX1-2, and has adopted regulations for the enfor cement of the RPS program requirements for POUs, which regulations have been subsequently amended from time to time.

SB 350, the Clean Energy and Pollution Reductio n Act of 2015, was signed into law by then Governor Brown on October 7, 2015. SB 350, as enact ed, establishes an RPS target of 50% by December 31, 2030 for the amount of electricity generated and sold to retail customers from eligible renewable energy resources for retail sellers and POUs, including inte rim targets of (i) 40% by the end of the 2021-2024 compliance period, (ii) 45% by the end of the 2025-2027 compliance period and (iii) 50% by the end of the 2028-2030 compliance period.

SB 350 requires each retail seller of electricity (including IOUs, most POUs above a certain size threshold, community choice aggregators and energy service providers) to provide a renewable energy procurement plan on an annual basis, and to file an integrated resource plan (“IRP”) at least once every five years, commencing no later than January 1, 2019, for CEC review. POUs with an annual electrical demand exceeding 700 gigawatt hours (as determined on a thr ee-year average commencing January 1, 2013) are subject to this requirement, which applies to the State’s 16 largest POUs. The governing body of the POU is responsible for adopting the IRP, subject to review by the CEC, which can recommend modifications to correct any shortcomings. This IR P is required to include the affected utility’s plans to meet the 2030 interim emissions reductions goal set by CARB. The City has approved and adopted an integrated resource plan, and the CEC has determined th at the City’s plan is complete and consistent with the SB 350 requirements.

Senate Bill 100 (“SB 100”), the 100 Percent Clean Energy Act of 2018, was signed into law by then-Governor Brown in September 2018. SB 100 acceler ates the State’s RPS target as established by SB 350 from 50% by 2030 to 60% by 2030 and sets a goal of 100% “clean energy” by the year 2045. SB 100 requires retail electric sellers and local publicly-own ed electric utilities to procure a minimum quantity of electric products from eligible renewable energy resources so that the total kWhs of those products sold to retail end-use customers achieve 44% of retail sales by December 31, 2024, 52% of retail sales by December 31, 2027 and 60% of retail sales by December 31, 2030. SB 100 further establishes a State policy that eligible renewable energy resources and zero-carbon resources supply 100% of retail sales of electricity to California end-use customers by December 31, 2045. On the last day of the legislative session, after the passage of SB 100 in both the State Assembly and th e State Senate, the bill’s author, Senator Kevin de Leon, filed a “Letter to the Journal” clarifying the in tent of SB 100, stating that “SB 100 does not seek to require retail sellers of electricity to default on exis ting contractual obligations to deliver electricity to California customers from existing zero-carbon generati ng facilities.” This clarification allows existing nuclear resources (such as the Palo Verde Nuclear Generating Station) and large hydropower resources (such as Hoover Dam) to help meet the policy standard set forth in SB 100 that eligible renewable and zero- carbon resources supply 100% of retail sales of electricity by December 31, 2045.

In December 2020, the CEC adopted regulations to update the RPS Enforcement Procedures for Publicly Owned Utilities, including to update regul ations amended by both SB 350 and SB 100, among 190 of 280

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other enacted bills. This includes implementing a majo r provision from SB 350, pertaining to long-term procurement of renewable resources, which requires, beginning January 1, 2021, that at least 65% of renewables procurement must be fo r a duration of 10 years or more. The regulations implement the new RPS procurement requirements for the compliance periods between 2021 and 2030, establish soft procurement targets for the intervening years of the compliance periods to demonstrate reasonable progress in meeting the RPS procurement target for the co mpliance periods, and establish three-year compliance periods beginning after 2030. The regulations also sp ecify standards for 10-year procurement contracts to meet the long-term procurement requirement.

Senate Bill 1020 (“SB 1020”), the Clean Energy, Jobs, and Affordability Act of 2022, signed into law by Governor Newsom on Sept ember 16, 2022 (and effective on Ja nuary 1, 2023), revises SB 100’s State policy on eligible renewable energy resources and zero-carbon resources supply. Under the revised State policy, eligible renewable energy resources an d zero-carbon resources would supply (i) 90% of all retail sales of electricity to California end-use customers by December 31, 2035, (ii) 95% of all retail sales of electricity to California end-use customers by D ecember 31, 2040, (iii) 100% of all retail sales of electricity to California end-use customers by December 31, 2045, (iv) and 100% of electricity procured to serve all state agencies by December 31, 2035. SB 100 had expressly excluded consideration of the energy, capacity, or any attribute from the Diablo Canyon Unit 1 and Unit 2 nuclear generating facilities in meeting the State’s eligible renewable and zero-carbon res ources supply policies. SB 1020 eliminates that exclusion.

Legislation Relating to Wildfires; Related Risks. Senate Bill 1028 (“SB 1028”) was signed into law by then-Governor Brown in September 2016. SB 1028 requires that each POU and each electric cooperative in the State construct, maintain, and operate its electrical lines and equipment in a manner that will minimize the risk of catastrophic wildfire posed by those electrical lines and equipment. SB 1028 requires the governing board of each POU to determine, based on historical fire data and local conditions, and in consultation with the fire departments or other entities responsible for the control of wildfires within the geographical area where the utility’s overhead electrical lines and equipment are located, whether any portion of that geographical area has a significant risk of wildfire resulting from those electrical lines and equipment, and if so, to present for board approval wildfire mitigation measures the utility intends to undertake to minimize the risk of its overhead electrical lines and equipment causing a catastrophic wildfire.

SB 901, signed into law by then-Governor Brown in September 2018, amends certain provisions of SB 1028 requiring POUs and electric cooperatives to prepare wildfire mitigation measures if the utilities’ overhead electrical lines and equipment are located in an area that has a significant risk of wildfire resulting from those electrical lines and equipment. Under SB 901, each POU or electric cooperative was required to prepare a wildfire mitigation plan before January 1, 2020. SB 901 requires th e wildfire mitigation plan to be updated annually thereafter. SB 901 requires specified information and elements to be considered as necessary, at minimum, in the wildfire mitigation pl an. The POU or electric cooperative is required to present each wildfire mitigation plan in an appropria tely noticed public meeting, and to accept comments on its wildfire mitigation plan from the public, other local and state agencies, and interested parties. In addition, SB 901 requires the POU or electric cooperative to contract with a qualified independent evaluator with experience in assessing the safe operation of electrical infrastructure to review and assess the comprehensiveness of its wildfire mitigation plan. The report of the independent evaluator is to be made available to the public and to be presented at a public meeting of the POU’s governing board.

Assembly Bill 1054 (“AB 1054”) was signed into law by Governor News om on July 12, 2019.

AB 1054 was enacted as an urgency statute to take e ffect immediately. AB 1054 establishes a Wildfire Fund of approximately $21 billion to provide liquidity for IOUs to facilitate payment of eligible, uninsured third-party damage claims resulting from future catast rophic wildfires. Additional future funding for the Wildfire Fund has been provided for under the provisions of SB 254, signed into law by Governor Newsom 191 of 280

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in September 2025. POUs, including the City’s Electri c System, are not eligible to receive funding from the Wildfire Fund. AB 1054 revises the cost recovery review of wildfire costs and expenses for IOUs before the CPUC, and establishes safety certification protocols that IOUs must meet in order to participate in the Wildfire Fund. AB 1054 provides for a cap on an IOU’s obligations to reimburse the Wildfire Fund and a presumption of reasonableness if a utility develops and maintains a valid safety certification. To receive the safety certification from the CPUC, the IOU must develop and implement an approved wildfire mitigation plan, implement the findings of its safet y culture assessments, estab lish a safety committee of its board of directors, establish board level repo rting to the CPUC on safety issues, and adopt a compensation structure tied to saf ety performance, among other requirements. The major IOUs in California are participants in the Wildfire Fund.

AB 1054 expands on the existing requirements established under SB 901 for POUs to develop and implement wildfire mitigation plans. AB 1054 also establishes the California Wildfire Safety Advisory Board (the “Wildfire Advisory Board”), a seven member board appointed by the Governor (five members), the Speaker of the State Assembly (one member) and the State Senate Committee on Rules (one member).

The Wildfire Advisory Board advises the Office of Energy Infrastructure Safety on electrical corporations’ wildfire mitigation plans, requirements for these plans, and other wildfire safety matters. Additionally, the Wildfire Advisory Board reviews the wildfire mitigation plans submitted by POUs and electrical corporations as discussed in more detail below. The Wildfire Advisory Board also serves as an additional forum for the public to provide input on the important topic of wildfire safety. AB 1054 requires each POU to update its plan annually and to comprehensively revise its plan at least once every three years. SB 254 amends the provisions of AB 1054 to provide that, after January 1, 2026, POUs will instead be required to prepare and submit to the Wildfire Advisory Board wildfire mitigation plans at least once every four years on a schedule to be determined by the Wildfire Advi sory Board. Under AB 1054, the Wildfire Advisory Board is required to provide comments and an adviso ry opinion regarding the content and sufficiency of plans and to make recommendations on how to mitigate wildfire risks. The City has prepared and submitted wildfire mitigation plans in accordance with the provisions of SB 901 and AB 1054 as required. See also “THE ELECTRIC SYSTEM – Wildfire Mitigation Measures.”
A number of significant wildfires have occurred in California every year since 2017. Under the doctrine of inverse condemnation (a legal concept that entitles property owners to just compensation if their property is damaged by a public use), California courts have imposed liability on utilities in legal actions brought by property holders for damages, where the inherent risks in the utility’s infrastructure, as deliberately designed, constructed or maintained, are determined to be a substantial cause of damage to the property. Thus, if the facilities of a utility, such as its electric distribution and transmission lines, are determined to be the substantial cause of the plaintiff’s damages, and the doctrine of inverse condemnation applies, the utility could be liable without having been found negligent. In August 2019, in its decision in the case of City of Oroville v. Superior Court of Butte County (2019) 7 Cal.5th 1091, 446 P.3d 304, involving damages related to sewage overflows from a city sewer system, the California Supreme Court held that to succeed on an inverse condemnation claim, a property owner must demonstrate that the property damage was the probable result or necessary effect of an inherent risk associated with the design, construction or maintenance of th e relevant public improvement. N one of SB 1028, SB 901 or AB 1054 addresses the existing legal doctrine relating to utiliti es’ liability for wildfires. SB 254 requires the California Earthquake Authority, as administrator of the wildfire fund established pursuant to AB 1054, to, on or before April 1, 2026, in consultation with the CPUC and other specified departments and agencies of the State, and with feedback solicite d from stakeholders, prepare and submit to the Legislature, and to the Governor, a report that evaluates and sets forth recommendations on new models or approaches that mitigate damage, accelerate recovery, and responsibly and equitably allocate the burdens from natural catastrophes, including catastrophic wildfires, earthquakes, and other natural disasters, across stakeholders, including insurers, communities, homeowners, landow ners, governments, electrical corporations, and POUs to complement or replace the fund. How any future legislation or judicial decisions addresses 192 of 280

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California’s inverse condemnation doctrine and liability issues for utilities in the context of wildfires in particular could be significant for the electric utility i ndustry, including the City and the Electric System.

Wildfires in 2025 that severely impacted large, populated areas of Los Angeles County could prompt significant new legislation impacting the electric utility sector, including the City. See “OTHER FACTORS AFFECTING THE ELECTRIC UTILITY IN DUSTRY - Changing Laws and Requirements Generally” herein.

Impact of California Energy Market Developments
The effect of the developments in the Californi a energy markets described above on the City’s Electric System cannot be fully ascertained at this time. Also, volatility in energy prices in California may be caused by a variety of factors that affect both the supply and demand for and cost of electric energy in the western United States. These factors include, but are not limited to, the adequacy of generation resources to meet demand at all hours, the availability and cost of renewable energy, the impact of economy- wide greenhouse gas emission legislation and regulati ons, fuel costs and availability, weather effects on customer demand, the impacts of climate change, wild fire mitigation and potential liability cost recovery, insurance costs, transmission congestion, the strength of the economy in California and surrounding states and levels of hydroelectric generati on within the region (including the Pacific Northwest). See “OTHER FACTORS AFFECTING THE ELECTRIC UTILITY INDUSTR Y.” This price volatility may contribute to greater volatility in the revenues of the Electric System from the sale (and purchase) of electric energy and, therefore, could materially affect the financial condition of the City’s Electric System. The Department undertakes resource planning and risk management activities and manages its resource portfolio to mitigate such price volatility and spot market rate exposure.

Federal Executive Order Regarding State Laws
An April 2025 executive order issued by the Preside nt directs the United States Attorney General to identify state laws, regulations, causes of action, policies and practices “burdening the identification, development, siting, production, or use of domestic energy resources that are or may be unconstitutional, preempted by Federal law, or otherwise unenforceable.” The executive order directs the Attorney General to prioritize the identification of any such state la ws purporting to address “clim ate change” or involving “environmental, social, and governance” initiatives, “environmental justice,” carbon or “greenhouse gas” emissions, and funds to collect carbon penalties or carbon taxes. The executive order further directs the Attorney General to take all appropriate action to stop the enforcement of such state laws and continuation of related civil actions that the Attorney General determines to be illegal.

OTHER FACTORS AFFECTING THE ELECTRIC UTILITY INDUSTRY
Federal Energy Legislation
Energy Policy Act of 2005. Under the federal Energy Polic y Act of 2005 (“EPAct 2005”), FERC was given refund authority over POUs if they sell into short-term markets, like the CAISO markets, and sell eight million MWhs or more of electric energy on an annual basis. In addition, FERC was given authority over the behavior of market participants. Under FERC’s authority it can impose penalties on any seller for using a manipulative or deceptive device, including market manipulation, in connection with the purchase or sale of energy or of transmission service. The Commodity Futures Trading Commission also has jurisdiction to enforce certain types of market manipulation or deception claims under the Commodity Exchange Act.

EPAct 2005 authorized FERC to issue permits to construct or modify transmission facilities located in a national interest electric transmission corridor if FERC determines that the statutory conditions are met. 193 of 280

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EPAct 2005 also required the creation of an Electric Reliability Organization (“ERO”) to establish and enforce, under FERC supervision, mandatory reliab ility standards (“Reliability Standards”) to increase system reliability and minimize blackouts. Failure to comply with such Reliability Standards exposes a utility to significant fines and penalties by the ERO.

NERC Reliability Standards. As described above, EPAct 2005 required FERC to certify an ERO to develop mandatory and enforceable Reliability Sta ndards, subject to FERC review and approval. The Reliability Standards apply to users, owners and operators of the Bulk-Power System, as more specifically set forth in each Reliability Standa rd. On February 3, 2006, FERC issued Order 672, which certified the North American Electric Reliability Corporation (“NERC”) as the ERO. Many Reliability Standards have since been approved by FERC. Such standards pe rtain not only to the planning, operations, and maintenance of Bulk-Power System facilities, but also to the cyber and physical security of certain critical facilities.

The ERO or the entities to which NERC has delegated enforcement authority through an agreement approved by FERC (“Regional Entities”), such as the Western Electricity Coordinating Council (“WECC”), may enforce the Reliability Standards, subject to FERC oversight, or FERC may independently enforce them. Potential monetary sanctions include fines of up to $1 million per violation per day. FERC Order 693 further provided the ERO and Regional Entities w ith the discretion necessary to assess penalties for such violations, while also having discretion to ca lculate a penalty without collecting the penalty if circumstances warrant.

Federal Regulation of Transmission Access
EPAct 2005 authorizes FERC to compel “open access ” to the transmission systems of certain utilities that are not generally regulated by FERC, including municipal utilities if the utility sells more than four million MWhs of electricity per year. Under open access, a transmission provider must allow all customers to use the system under standardized rates, terms and conditions of service.

FERC Order No. 888 requires the provision of open access transmission services on a nondiscriminatory basis by all “jurisdictional utilities” (which, by definition, does not include municipal entities like the City) by requiring al l such utilities to file Open Acces s Transmission Tariffs (“OATTs”).

Order No. 888 also requires “non-jurisdictional utilities” (which, by definition, does include the City) that purchase transmission services from a jurisdictional u tility under an open access tariff and that owns or controls transmission facilities to provide open access ser vice to the jurisdictional utility under terms that are comparable to the service that the non-jurisdictional utility provides itself. Section 211A of EPAct 2005 authorizes, but does not require, FERC to order unregul ated transmission utilities to provide transmission services. Specifically, FERC may require an unregulat ed transmitting utility to provide access to their transmission facilities (1) at rates th at are comparable to those that the unregulated transmitting utility charges to itself; and (2) on terms and conditions (not relating to rates) that are comparable to those under which the unregulated transmitting utility provides transmission services to itself that are not unduly discriminatory or preferential.

On February 16, 2007, FERC issued Order 890, wh ich concluded that refo rm of its pro forma OATT was necessary to reduce the potential for undue discrimination and provide clarity in the obligations of transmission providers and customers. Signifi cantly, in Order 890 FERC stated that it will implement its authority under Section 211A with respect to unregulated transmitting utilities on a case-by-case basis and retain the current reciprocity provisions.

On July 21, 2011, FERC issued Order 1000, wh ich among other things requires public utility (jurisdictional) transmission providers to particip ate in a regional transmission planning process that 194 of 280

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produces a regional transmission plan and that incor porates a regional and inter-regional cost allocation methodology. Further, FERC states that it has the authority to allocate costs to beneficiaries of transmission services, even in the absence of a contractual relati onship between the owner of the transmission facilities and the beneficiary. Under EPAct 2005, FERC may not require municipal utilities to join regional transmission organizations, in which participating utilities allow an independent entity to oversee operation of the utilities’ transmission facilities. FERC has st ated, however, that FERC expects such utilities to participate in the regional processes for transmissi on planning and that FERC will pursue associated complaints against such utilities on a case-by-case basis.

On May 13, 2024, FERC issued Order 1920 to refo rm the planning of the nation’s transmission system as well as the allocation of costs for new tran smission projects. Order 1920, among other things, requires public utility (jurisdictional) transmission providers to conduct and periodically update long-term regional transmission planning to anticipate future needs, consider a broad set of benefits when planning new facilities, identify opportunities to modify in-k ind replacement of existing transmission facilities to increase their transfer capability, propose methods of cost allocation to pay for selected long-term regional transmission facilities, and increase transparency regarding local transmission planning information. Order 1920 expands the role of states throughout the process of planning, selecting and determining how to pay for new transmission facilities.

Order 1920 reflects input FERC sought from interested parties on a variety of reforms aimed at expanding the nation’s transmission grid to accommodate the surge of renewable generation expected in the next two decades to achieve applicable decarbonization goals.

Federal Policy on Cybersecurity
On February 13, 2013, then President Obama is sued the Executive Order “Improving Critical Infrastructure Security” (the “Infrastructure S ecurity Executive Order”). Among other things, the Infrastructure Security Executive Order called for improved information sharing and processing of security clearances for owners and operators of critical infrastructure. The Infrastructure Security Executive Order further required the Secretary of Commerce to direct the National Institute of Standards and Technology (“NIST”) to lead the development of a framework (“Framework”) to reduce cyber risks to critical infrastructure. The voluntary Framework will contin ue to be updated and im proved as industry provides feedback on implementation.

The Cybersecurity Information Sharing Act of 2015 was signed into law on December 18, 2015 as part of the year-end Omnibus Appropriations Act. It creates an industry-supported, voluntary cybersecurity information sharing program that encourages both pub lic and private sector entities to share cyber-related threat information. The Cybersecurity Information Sharing Act expired on September 30, 2025, and efforts to reauthorize it have not yet resulted in an extension or reauthorization.

In September 2018, the federal administration signed the “National Cyber Strategy,” which sought to update the nation’s cybersecurity strategy for the first time in 15 years and identified “energy and power” as one of the seven key areas for protection. FERC has also sought to expand reporting rules for incidents involving attempts to compromise operation of the electric grid and address supply chain cybersecurity risks.

In March of 2023, the federal administration adop ted the 2023 National C ybersecurity Strategy.

The 2023 National Cybersecurity Strategy replaces but continues momentum on many of the priorities of the 2018 National Cyber Strategy. The 2023 National C ybersecurity Strategy seeks to build and enhance collaboration around five pillars: (1) Defend Critical Infrastructure; (2) Disrup t and Dismantle Threat 195 of 280

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Actors; (3) Shape Market Forces to Drive Security and Resilience; (4) Invest in a Resilient Future; and (5) Forge International Partnerships to Pursue Shared Goals.

The current administration is expected to announce a new National Cybersecurity Strategy.

Environmental Issues
General. Electric utilities are subject to continuing e nvironmental regulation. Federal, State and local standards and procedures that regulate the envir onmental impact of electric utilities are subject to change. These changes may arise from continuing legislative, regulatory and judicial action regarding such standards and procedures. Consequently, there is no assurance that any facilities or projects of the City will remain subject to the laws and regulations currently in effect, will always be in compliance with future laws and regulations or will always be able to obtain all required operating permits. An inability to comply with environmental standards could result in, for example, additional capital expend itures, reduced operating levels or the shutdown of individual units not in compliance. In addition, increased environmental laws and regulations may create certain barriers to new facility development, may require modification of existing facilities and may result in additional costs for affected resources.

Greenhouse Gas Regulations Under the Clean Air Act. The United States Environmental Protection Agency (the “EPA”) regulates greenhouse gas emis sions under existing law by imposing monitoring and reporting requirements, and through its permitting programs. Like other air pollutants, greenhouse gases are regulated under the Clean Air Act through the Prev ention of Significant Deterioration (“PSD”) Permit Program and the Title V Permit Program. A PSD permit is required before commencement of construction of new major stationary sources or major modificati ons of a major stationary source and requires best available control technologies (“BACT”) to control emissions at a facility. Title V permits are operating permits for major sources that consolidate all Clean Ai r Act requirements (arising, for example, under the Acid Rain, New Source Performance Standards, National Emission Standards for Hazardous Air Pollutants, and/or PSD programs) into a single document and the permit process provides for review of the documents by the EPA, state agencies and the public. Greenho use gases from major natural gas-fired facilities are regulated under both permitting pr ograms through performance standa rds imposing efficiency and emissions standards.

In May 2023, the EPA proposed new regulations under the Clean Air Act that would establish greenhouse gas emission limits, based on pollution cont rol technology or lower-carbon fuels, for new gas plants, existing gas plants, and existing coal plants , as specified. In February 2024, the EPA announced that it will remove the elements that would have applied to existing natural gas-fired power plants from the final version of the rule. Instead, the EPA stated that it will commence a new rulemaking process that will apply to existing natural gas-fired plants and regulate additional pollutants. The rule relating to new gas plants and existing coal plants was finalized on April 25, 2024.

In June 2025, the EPA proposed to repeal all greenhouse gas emissions st andards for fossil-fuel fired power plants under Section 111 of the Clean Ai r Act, relating to emissions from new and existing stationary sources of air pollution. The EPA is also proposing, as an alternative, to repeal a narrower set of requirements that include the emission guidelines for existing fossil fuel-fired steam generating units, the carbon capture and sequestration/stor age (“CCS”)-based standards for coal-fired steam generating units undertaking a large modification, and the CCS-based st andards for new base load stationary combustion turbines.

In February 2026, the EPA issued a final rule rescinding a greenhouse gas endangerment finding as it applies to regulating emissions from new motor vehicles and new motor vehicle engines. This is expected to result in the EPA removing greenhouse gas regulations for light- medium-, and heavy-duty on- 196 of 280

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highway vehicles. The repeal of such endangermen t finding itself does not directly impact existing regulations. Changing existing regulations will require separate actions. However, it is widely expected that the EPA’s action will trigger multiple lawsuits regarding both the finding itself and air emissions regulations related to it. These issues are expected to be litiga ted for some time. The EPA ’s action does not apply directly to stationary sources, including oil and gas facilities and power plants. While the action is targeted at vehicles (i.e., mobile sources), this EPA action could have broader ramifications in the future, including impacts related to how and when the EPA does or does not regulate other sources of greenhouse gases. The outcome of these rulemakings being undertaken by the EPA in connection with its regulation of greenhouse gas emissions of power plants is not yet known.

Air Quality - National Ambient Air Quality Standards. The Clean Air Act requires that the EPA establish National Ambient Air Quality Standards (“NAAQS”) for certain air pollutants. When a NAAQS has been established, each state mu st identify areas in its state that do not meet the EPA standard (known as “non-attainment areas”) and develop regulatory measu res in its state implementation plan to reduce or control the emissions of that air pollutant in orde r to meet the applicable standard and become an “attainment area.” The EPA periodically reviews the NAAQS for various air pollutants and has in recent years increased, or proposed to in crease, the stringency of the NAAQS for certain air pollutants. These developments may result in stringent permitting processes for new sources of emissions and additional state restrictions on existing sources of emissions, such as power plants.

In addition, the U.S. Supreme Court found in its review of EPA v. EME Homer City Generation, LP that the EPA has authority to impose a Cross-Stat e Air Pollution Rule (the “Transport Rule”) which curbs air pollution emitted in upwi nd states to facilitate downwind attainment of three NAAQS. On November 26, 2014, the EPA proposed to strengthen the stringency of the NAAQS for ozone by lowering the existing ozone standard of 75 parts per billion (“ppb”) to between 65 and 70 ppb, although the EPA also sought public comment on a standard as low as 60 ppb. On October 1, 2015, the EPA issued its final rule, lowering the ozone standard to 70 ppb. Legal challenges to the final rule were filed by a number of states and industry groups. On March 12, 2018, a federal di strict judge in Northern California ordered the EPA to complete the strengthened 2015 ozone standard designations later in 2018. The EPA noticed a final rule on December 6, 2018 implementing ozone NAAQS for non-attainment areas and addressing state implementation plan requirements. That rule became effective on February 4, 2019.

On July 15, 2020, the EPA announced a proposed decision to retain the existing 70 ppb ozone standard. The decision was finalized on December 7, 2020. In August 2023, the EPA announced a new review of the ozone NAAQS to support consideration of new information and advice.

While some particulate matter is emitted directly from sources such as construction sites, unpaved roads, fields, smokestacks or fires, most particles fo rm in the atmosphere as a result of complex reactions of chemicals such as sulfur dioxide and nitrogen oxi des, which are pollutants emitted from power plants and other sources. On February 7, 2024, the EPA announced a final rule to strengthen certain NAAQS for fine particulate matter. Areas that are designated as nonattainment areas have planning obligations to demonstrate attainment and meet the new standard within six years following the nonattainment designations.

Mercury and Air Toxics Standards. The Clean Air Act provides for a comprehensive program for the control of hazardous air pollutants, including mercury. On February 16, 2012, the EPA finalized a rule, the Mercury and Air Toxics Standards (“MATS”), establishing new standards to reduce air pollution from coal- and oil-fired power plants under sections 111 (n ew source performance standards, or “NSPS”) and 112 (toxics program) of the Clean Air Act. The rule was subsequently amended in 2013 and 2014. Under section 111 of the Clean Air Act, the MATS rule revised the standards that new and modified facilities, including coal- and oil-fired power plants, must meet for particulate matter, sulfur dioxide, and nitrogen 197 of 280

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oxide. Under section 112, the MATS rule set new t oxics standards limiting emissions of heavy metals, including mercury, arsenic, chromium, and nicke l; and acid gases, including hydrochloric acid and hydrofluoric acid, from existing and new power plants larger than 25 MW that burn coal or oil. Power plants would have up to four years to meet these standards. While many plants already meet some or all of these revised standards, some plants would be required to install new equipment to meet the standards. The rule has minimal impact to the City. IPP, which has coal-fired power plants, did not have to install control technology and the EPA has deemed the IPP units as low-emitting units. IPP is subject to periodic testing, work practice standards and recordkeeping requirements as a result of the rule. On July 17, 2020, the EPA finalized revisions to the electronic reporting requi rements for MATS that revised and streamlined the reporting requirements and provided enhanced acce ss to MATS data, without imposing new monitoring requirements. In April 2024, the EPA finalized a rule that modified regulation of coal- and oil-fired power plants, including further restricting their emissions an d changing emissions monitoring requirements. In March 2025, the EPA announced plans to reconsider the final rules for existing coal-fired and new natural gas-fired power plants which were promulgated under the prior administration. In April 2025, the President signed a proclamation granting two years of relief from an environmental rule to certain coal-fired power plants, allowing certain coal plants to comply with a less stringent version of the MATS rule for two years.

In June 2025, the EPA proposed repealing the rules finalized in 2024. The newly proposed rule would relax standards for filterable particulate matter, ease the technology requirements on power plants to demonstrate compliance, and would raise the limit of mercury emissions allowable from lignite-fired plants. On December 23, 2025, the EPA submitted a draft of the final action to the Office of Management and Budget for interagency review pursuant to executive order. In February 2026, the EPA finalized the repeal of certain amendments finalized in 2024 to the MATS rule.

Effluent Limitations Guidelines and Standards. On June 7, 2013, the EPA proposed to set technology-based effluent limitations guidelines and standards for metals and other pollutants in wastewater discharged from steam electric power plants. The proposal would cover wastewater associated with several types of equipment and processes, including flue gas desulfurization, fly ash, bottom ash, flue gas mercury control and gasification of fuels. The EPA cons idered best management practices for surface impoundments containing coal combustion residuals. The EPA proposed four preferred alternatives for regulating wastewater discharges. The stringency of controls, types of waste streams covered, and the costs varied among the four alternatives. On September 30, 2015, the EPA announced its final Steam Electric Effluent Limitation Guidelines to update the federal limits on toxic metals in discharge wastewater. On June 6, 2017, the Trump Administration announced that it was postponing certain compliance dates in the effluent limitation guidelines and standards for the new, more stringent steam electric point source category under the Clean Water Act until the EPA completes reconsideration of the 2015 rule. On May 2, 2018, the EPA noticed the Final 2016 Effluent Guidelines Program Plan, which identified one new rulemaking (and the associated schedule) for the steam electric power generating point source category. The proposed rule was published in November 2019, a pu blic hearing on the proposed rule was held on December 19, 2019, and the final rule for steam electric power generatio n point source was published on August 31, 2020. On August 3, 2021, the EPA announced a planned-rulemaki ng to strengthen certain discharge limits in the steam electric power generating category. On May 9, 2024, the EPA finalized a supplemental rulemaking for coal-fired plants to strengthen certain wastewater discharge limits.

Changing Laws and Requirements Generally
Congress has considered and is considering num erous bills addressing domestic energy policies and various environmental matters, including bills relating to ener gy supplies and financial incentives for development, climate change and re duction or elimination of net carbon dioxide emission attributable to the electricity grid and the economy more generally. Many of these bills, if enacted into law, could have a material impact on the City’s Electric System and th e electric utility industry generally. In light of the variety of issues affecting the utility sector, federal energy legislation in other areas such as reliability, 198 of 280

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transmission planning and cost allocation, operati on of markets, environmental requirements, and cybersecurity is also possible. However, the City is unable to predict the outcome or potential impacts of any possible legislation on the Electric System at this time.

New executive administrations, including the Preside nt of the United States, could also impact substantially the current environmental standards and regulations and ot her matters described herein. For example, upon taking office in January 2025, President Trump issued a series of executive orders affecting executive actions and policies implemented by the prior administration. One such executive order revoked a number of executive actions taken by the Biden administration, including revoking certain executive orders of the Biden administration relating to climat e change and clean energy, requiring federal agencies to review all federal government ac tions taken pursuant to the revoked or ders and to take necessary steps to rescind, replace or amend such actions. In additi on, the President issued a separate executive order directing the heads of all federal agencies to review all agency actions affecting the development of domestic energy resources, such as oil, natural gas, coal, hydropower, biofuels, critical mineral, and nuclear energy, and within 30 days of identifying any agency action that unduly burdens the production of domestic energy resources, to develop and begin action plans to rescind or revise the agency actions. Further, the agencies were directed to notify the Attorney Genera l so that appropriate action may be taken in any pending litigation, including the request of a stay, rela ted to the identified agency action. A number of legislative, regulatory and other actions have been taken by federal agencies pursuant to such executive orders. Certain of these actions have been the subject of judicial challenges. The ultimate impact of these and any other executive orders that the President ma y issue, or other actions Congress or any federal agencies may take, relating to federal energy policy is not yet known and could potentially impact the electric utility sector and the City’s Electric System.

Other Factors
The electric utility industry in general has been, or in the future may be, affected by a number of other factors which could affect the financial c ondition and competitiveness of many electric utilities and the level of utilization of generating and transmission facilities. In addition to the factors discussed above, such factors include, among others, (a) effects of compliance with rapidly changing environmental, safety, licensing, regulatory and legislative requirements ot her than those described above (including those affecting nuclear power plants or potential new en ergy storage requirements), (b) changes resulting from conservation and demand-side management programs on the timing and use of electric energy, (c) effects on the integration and reliability of power supply fro m the increased usage of renewables, (d) changes resulting from a national energy policy, (e) effects of competition from other electric utilities (including increased competition resulting from a movement to a llow direct access or expanded community choice aggregation or from mergers, acquisitions, and “strate gic alliances” of competing electric and natural gas utilities and from competitors transmitting less expensiv e electricity from much greater distances over an interconnected system) and new methods of, and new f acilities for, producing low-cost electricity, (f) the repeal of certain federal statutes that would have the effect of increasing the competitiveness of many IOUs, (g) increased competition from independent power produ cers and marketers, brokers and federal power marketing agencies, (h) “self-generation” or “distributed generation” (such as microturbines, fuel cells and solar installations) by industrial and commercial custom ers and others, (i) issues relating to the ability to issue tax-exempt obligations, including restricti ons on the ability to sell to nongovernmental entities electricity from generation projects and transmission service from transmission line projects financed with outstanding tax-exempt obligations and, as of January 1, 2018, the loss of the ability to undertake tax- exempt advance refundings, (j) effects of inflation on the operating and maintenance costs of an electric utility and its facilities, (k) changes from projected fu ture load requirements, (l) increases in costs and uncertain availability of capital, (m) shifts in the availability and relative costs of different fuels (including the cost of natural gas and nuclear fuel), (n) changes in the electric market structure for neighboring electric grids, such as the energy imbalance market operate d by the CAISO, (o) sudden and dramatic increases in 199 of 280

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the price of energy purchased on the open market that may occur in times of high peak demand in an area of the country experiencing such high peak demand, such as has occurred in the past in California, (p) issues relating to risk management procedures and practices with respect to, among other things, the purchase and sale of natural gas, energy and transmission capacity , (q) other legislative changes, voter initiatives, referenda and statewide propositions, (r) effects of the changes in the economy, population and demand of customers within a utility’s service area, (s) effects of possible manipulation of the electric markets, (t) acts of terrorism or cyber-terrorism impacting a utility a nd/or significant load customers, (u) changes to the climate; (v) natural disasters or other physical cal amities, including, but not limited to, earthquakes, droughts, severe weather, floods and wildfires, and potential liabilities of electric utilities in connection therewith, and (w) adverse impacts to the market fo r insurance relating to recent wildfires and other calamities, leading to higher costs or prohibitively expensive coverage, or lim ited or unavailability of coverage for certain types of risk. Any of these fact ors (as well as other factors) could have an adverse effect on the financial condition of any given electri c utility and likely will affect individual utilities in different ways.

The City is unable to predict what impact su ch factors will have on the business operations and financial condition of the Electric System, but the imp acts could be significant. Although this Official Statement includes a brief discussion of certain of th ese factors. This discussion does not purport to be comprehensive or definitive, and these matters are subj ect to change subsequent to the date hereof.

Extensive information on the electric utility industry is available from the legislative and regulatory bodies and other sources in the public domain, and potential purchasers of the 2026 Refunding Bonds should obtain and review such information.

RATING
Moody’s Ratings [is expected to assign]/[has assigned] a rating of “[__]” to the 2026 Refunding Bonds. Such rating reflects only the views of such organization and any desired explanation of the significance of such rating may be obtained from the rating agency furnishing the same. Generally, a rating agency bases its rating on the information and material s furnished to it and on investigations, studies and assumptions of its own. There is no assurance that any of such rating will continue for any given period of time or that it will not be revised downward or withdrawn entirely by the rating agency, if in the judgment of the rating agency circumstances so warrant. Any such downward revision or withdrawal of such rating may have an adverse effect on the market price of the 2026 Refunding Bonds.

MUNICIPAL ADVISOR
PFM Financial Advisors LLC (the “Municipal Advisor”) has assisted the City with various matters relating to the planning, structuring and delivery of the 2026 Refunding Bonds. The Municipal Advisor is an independent financial advisory firm and is not engaged in the bus iness of underwriting or distributing municipal securities or other public securities. The Municipal Advisor will receive compensation from the City contingent upon the sale and delivery of the 20 26 Refunding Bonds. The Municipal Advisor has not undertaken to make an independent verification or to assume responsibility for the accuracy, completeness or fairness of the information contained in this Official Statement.

UNDERWRITING
The 2026 Refunding Bonds were awarded to ____ ____________ (the “Underwriter”) pursuant to a competitive bidding held on [____], 2026. The 2026 Refunding Bonds were awarded to the Underwriter at a price of $__________, which price includes [net] original issue premium of $__________ and is net of the underwriter’s discount of $__________. The U nderwriter will purchase all of the 2026 Refunding Bonds if any are purchased. The Underwriter may o ffer and sell the 2026 Refunding Bonds to certain 200 of 280

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dealers at prices lower than the initial public offeri ng prices, and the initial public offering prices may be changed from time to time by the Underwriter.

CONTINUING DISCLOSURE
Pursuant to a Continuing Disclosure Agreement, dated as of May 1, 2026 (the “Continuing Disclosure Agreement”), by and between the City and the Trustee, the City has covenanted for the benefit of the holders and beneficial owners of the 2026 Refunding Bonds to provide certain financial information and operating data relating to the City and the Electric System by not later than seven months following the end of the City’s Fiscal Year (which Fiscal Year presently ends on June 30) (the “Annual Report”), commencing with the report for Fiscal Year 2025-26, a nd to provide notices of the occurrence of certain enumerated events. The Annual Report will be filed by the City or its agent with the Municipal Securities Rulemaking Board (“MSRB”) through the MSRB’s El ectronic Municipal Market Access (“EMMA”) system. The notices of such events also will be file d by the City or its agent with the MSRB also through the EMMA system. The specific nature of the inform ation to be contained in the Annual Report and the notices of events is set forth in “APPENDIX E – FORM OF CONTINUING DISCLOSURE AGREEMENT” herein. These covenants have been made in order to assist the Underwriter in complying with S.E.C. Rule 15c2-12.

The City has complied in all material respects with S.E.C. Rule 15c2-12 in the previous five years to provide annual reports and, if applicable, notices of certain events. In the last five years, although the City generally has routinely filed notices of known instances of rating changes in connection with its water revenue bonds, in 2025 its notice of a rating upgrade by Fitch Ratings was filed late.

TAX MATTERS
The Internal Revenue Code of 1986 (the “Code”) imposes certain requirements that must be met subsequent to the issuance and delivery of the 2026 Refunding Bonds for interest thereon to be and remain excluded pursuant to section 103(a) of the Code from th e gross income of the owners thereof for federal income tax purposes. Noncompliance with such requirements could cause the interest on the 2026 Refunding Bonds to be included in the gross income of the owners thereof for federal income tax purposes retroactive to the date of issue of the 2026 Refundin g Bonds. The City has covenanted in the Eleventh Supplemental Indenture not to take any action or om it to take any action which, if taken or omitted, respectively, would adversely affect the exclusion of the interest on the 2026 Refunding Bonds from the gross income of the owners thereof for federal income tax purposes.

In the opinion of Norton Rose Fulbright US LLP, Bond Counsel, under existing law, interest on the 2026 Refunding Bonds is exempt from personal income taxes of the State of California and, assuming compliance with the aforementioned covenants, interest on the 2026 Refunding Bonds is excluded pursuant to section 103(a) of the Code from the gross income of the owners thereof for federal income tax purposes.

Bond Counsel is of the further opinion that inter est on the 2026 Refunding Bonds is not an item of tax preference for purposes of the federal alternative minimu m tax on individuals. The Code contains other provisions that could result in tax consequences, upon which no opinion will be rendered by Bond Counsel, as a result of ownership of the 2026 Refunding Bonds or the inclusion in certain computations of interest that is excluded from gross income. In rendering the foregoing opinions, Bond Counsel will rely upon representations and certifications of the City made in certificates, dated the date of delivery of the 2026 Refunding Bonds, pertaining to the use, expenditure , and investment of the proceeds of such 2026 Refunding Bonds.

The initial public offering price of certain of the 2026 Refunding Bonds (the “Discount Bonds”) may be less than the amount payable on such 2026 Re funding Bonds at maturity. An amount equal to the 201 of 280

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difference between the initial public offering price of a Discount Bond (assuming that a substantial amount of the Discount Bonds of that maturity are sold to the public at such price) and the amount payable at maturity constitutes original issue discount to the initial purchaser of such Discount Bond. A portion of such original issue discount allocable to the holding period of such Discount Bond by the initial purchaser will, upon the disposition of such Discount Bond (including by reason of its payment at maturity), be treated as interest excludable from gross inco me, rather than as taxable gain, for federal income tax purposes, on the same terms and conditions as those for other inte rest on the 2026 Refunding Bonds described above.

Such interest is considered to be accrued actuarially in accordance with the constant interest method over the life of a Discount Bond, taking into account the semiannual compounding of accrued interest, at the yield to maturity on such Discount Bond and generally will be allocated to an initial purchaser in a different amount from the amount of the payment denominated as interest actually received by the initial purchaser during the tax year.

However, such interest may be required to be taken into account in determining the amount of the branch profits tax applicable to certain foreign co rporations doing business in the United States, even though there will not be a corresponding cash payment. In addition, the accrual of such interest may result in certain other collateral federal income tax con sequences to, among others, financial institutions, life insurance companies, property and casualty insuran ce companies, S corporations with subchapter C earnings and profits, individual recipients of Social Security or Railroad Retirem ent benefits, individuals otherwise qualifying for the earned income tax credit, owners of an interest in a financial asset securitization investment trust, and taxpayers who may be deemed to have incurred or continued indebtedness to purchase or carry, or who have paid or incurred certain expenses allocable to, tax-exempt obligations. Moreover, in the event of the redemption, sale or other taxable disposition of a Discount Bond by the initial owner prior to maturity, the amount realized by such owner in ex cess of the basis of such Discount Bond in the hands of such owner (adjusted upward by the portion of the original issue discount allocable to the period for which such Discount Bond was held) is includable in gross income. Owners of Discount Bonds should consult with their own tax advisors with respect to the determination of accrued original issue discount on such Discount Bonds for federal income tax purpo ses and with respect to the state and local tax consequences of owning and disposing of Discount Bonds.

The purchase price of certain 2026 Refunding Bond s (the “Premium Bonds”) paid by an owner may be greater than the amount payable on such 2026 Refunding Bonds at maturity. An amount equal to the excess of a purchaser’s tax basis in a Premium B ond over the amount payable at maturity constitutes premium to such purchaser. The basis for federal income tax purposes of a Premium Bond in the hands of such purchaser must be reduced each year by the am ortizable bond premium, although no federal income tax deduction is allowed as a result of such reductio n in basis for amortizable bond premium. Such reduction in basis will increase the amount of any gain (or decrease the amount of any loss) to be recognized for federal income tax purposes upon a sale or other taxable disposition of a Premium Bond. The amount of premium that is amortizable each year by a purchaser is determined by using such purchaser’s yield to maturity (or, in some cases with respect to a callable 2026 Refunding Bo nd, the yield based on a call date that results in the lowest yield on such 2026 Refunding Bond). Purchasers of Premium Bonds should consult with their tax advisors with respect to the determination of amortizable bond premium on such Premium Bonds for federal income tax purposes and with respect to the state and local tax consequences of owning and disposing of such Premium Bonds.

The Code imposes a minimum tax of 15% on the adju sted financial statement income of certain large corporations, generally consisti ng of corporations (other than S corporations, regulated investment companies and real estate investment trusts) with more than $1 billion in average annual adjusted financial statement income, determined over a three-year period. For this purpose, adjusted financial statement income generally consists of the net income or loss of the taxpayer set forth on the taxpayer’s applicable financial statement for the taxable year, subject to various adjustments, but is not reduced for interest earned 202 of 280

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on tax-exempt obligations, such as the 2026 Refunding Bonds. Prospective purchasers that could be subject to this minimum tax should consult with their own tax advisors regarding the potential consequences of owning the 2026 Refunding Bonds.

Bond Counsel has not undertaken to advise in the future whether any events after the date of issuance of the 2026 Refunding Bonds may affect the tax status of interest on such 2026 Refunding Bonds or the tax consequences of the ownership of the 2 026 Refunding Bonds. No assurance can be given that pending or future legislation, or amendments to the Code, if enacted into law, or any proposed legislation or amendments to the Code, will not contain provisions that could directly or indirectly reduce the benefit of the exemption of interest on the 2026 Refunding Bonds from personal income taxation by the State of California or of the exclusion of the interest on the 2026 Refunding Bonds from the gross income of the owners thereof for federal income tax purposes. Furthermore, Bond Counsel will express no opinion as to the effect on the exclusion from gross income of interest on the 2026 Refunding Bonds of any action taken or not taken after the date of such opinion without the approval of Bond Counsel.

Except as described above, Bond Counsel will express no opinion with respect to any federal, state or local tax consequences under present law, or propo sed legislation, resulting from the receipt or accrual of interest on, or the acquisition or disposition of, the 2026 Refunding Bonds. Prospective purchasers of the 2026 Refunding Bonds should be aware that the ownership of tax-exempt obligations such as the 2026 Refunding Bonds may result in collateral federal tax consequences to, among others, financial institutions, life insurance companies, property and casualty insurance companies, certain foreign co rporations doing business in the United States, S corporations with subcha pter C earnings and profits, individual recipients of Social Security or Railroad Retirement benefits, individuals otherwise qualifying for the earned income tax credit, owners of an interest in a financial asset securitization investment trust, corporations subject to the alternative minimum tax on adjusted financial statement income, and taxpayers who may be deemed to have incurred or continued indebtedness to purchase or carry, or who have paid or incurred certain expenses allocable to, tax-exempt obligations. Prospective purchasers should consult their own tax advisors as to the applicability of these consequences to their particular circumstances.

Bond Counsel’s opinions are not a guarantee of a result, but represent its legal judgment based upon its review of existing statutes, regulations, published rulings and court decisions and the covenants of the City described above. No ruling has been sought from the Internal Revenue Service (the “Service”) with respect to the matters addressed in the opinion of Bond Counsel, and Bond Counsel’s opinion is not binding on the Service. The Service has an ongoing program of auditing the tax-exempt status of the interest on municipal obligations. If an audit of the 2026 Refunding Bonds is commenced, under current procedures the Service is likely to treat the City as the “taxpaye r,” and the owners would ha ve no right to participate in the audit process. In responding to or defending an audit of the tax-exempt status of the interest on the 2026 Refunding Bonds, the City may have different or conflicting interests from the owners of such 2026 Refunding Bonds. Public awareness of any future audit of the 2026 Refunding Bonds could adversely affect the value and liquidity of such 2026 Refundin g Bonds during the pendency of the audit, regardless of the ultimate outcome.

Existing law may change so as to reduce or eliminate the benefit to holders of the 2026 Refunding Bonds of the exclusion of interest thereon from gro ss income for federal income tax purposes. Proposed legislative or administrative action, whether or not ta ken, could also affect the value and marketability of the 2026 Refunding Bonds. Prospective purchasers of the 2026 Refunding Bonds should consult with their own tax advisors with respect to any proposed changes in tax law.

A copy of the proposed form of opinion to be delivered by Bond Counsel in connection with the issuance of the 2026 Refunding Bonds is included in Appendix F. 203 of 280

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LITIGATION
There is no litigation or action of any nature now pending against the City or, to the knowledge of its respective officers, threatened, seek ing to restrain or enjoin the issu ance, sale, execution or delivery of the 2026 Refunding Bonds or in any way contesting or affecting the validity of the 2026 Refunding Bonds or any proceedings of the City taken with respect to the issuance or sale thereof, or the pledge or application of any moneys or security provided for the paymen t of the 2026 Refunding Bonds or the use of 2026 Refunding Bond proceeds. There is no litigation pending, or to the best knowledge of the City, threatened, questioning the existence of the City or the title of the officers of the City to their respective offices. Except as otherwise disclosed herein, the City believes that there is no litigation pending, or to the best knowledge of the City, threatened, which materially questions or affects the financial condition of the Electric System.

ELECTRIC SYSTEM FINANCIAL STATEMENTS
The audited financial statements of the Electric System for the Fiscal Year ended June 30, 2025 are included in Appendix B to this Official Statement. The City has not requested, and CliftonLarsonAllen LLP (the “Auditor”), the independent auditor of such aud ited financial statements, has not given its consent to the inclusion in Appendix B of its report on the aud ited financial statements for the Fiscal Year ended June 30, 2025. The Auditor has not been engaged to perform, and has not performed, since the date of its report included in Appendix B, a ny procedures on the financial statements addressed in that report. The Auditor also has not performed any procedures relating to this Official Statement. A complete copy of the City’s most recent Annual Comprehensive Financial Report may be obtained from the City.

APPROVAL OF LEGAL PROCEEDINGS
The issuance of the 2026 Refunding Bonds is subject to the approving opinion of Norton Rose Fulbright US LLP, Bond Counsel to the City, to be delivered in substantially the form set forth in Appendix F herein. Certain legal matters will be passed upon for the City by the City Attorney of the City of Glendale. Certain legal matters will be passed upon for the City by Norton Rose Fulbright US LLP, Los Angeles, California, as Disclosure Counsel. No rton Rose Fulbright US LLP will receive compensation contingent upon the sale and delivery of the 2026 Refunding Bonds. [Remainder of page intentionally left blank.]

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EXECUTION AND DELIVERY
The execution and delivery of this Official Statement has been authorized by the City.

CITY OF GLENDALE, CALIFORNIA
By:

Director of Finance

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APPENDIX A

THE CITY OF GLENDALE
The 2026 Refunding Series Bonds will not be secured by any pledge of ad valorem taxes or general fund revenues but will be payable solely as described elsewhere in this Official Statement. The description of the financial and economic information regarding the City of Glendale, California (the “City”) set forth in this Appendix A is included in this Official Statement for information purposes only.

General
The City is a charter city of the State of Ca lifornia and was incorporated on February 16, 1906 under the general laws of the state of California. The City Charter was adopted on March 29, 1921. The City has a City Manager form of government with five elected Council members, in addition to an elected City Clerk and City Treasurer. The Council members elect a mayor among themselves and appoint various Boards and Commissions. The City provides a full range of municipal services. These include public safety (police and fire), streets, refuse collection, sewer, hazardous disposal, electric and water utilities, parks and recreation, public improvements, planning and zoning, housing and community development and general administrative and support services.

The City is the fourth largest city in Los Angeles County, encompassing approximately 31 square miles and a population of approximately 192,212 as of January 1, 2025.

Population
The following chart shows the population of the City for the ten years indicated.

Year Population
2016 194,060
2017 193,806
2018 195,847
2019 195,810
2020 195,898
2021 194,823
2022 193,358
2023 192,174
2024 191,706
2025 192,212
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Source: State of California Department of Finance, Population Research Unit, Population Estimates for California Cities 2016-20 with 2010 Benchmark, 2021-25 with 2020 Benchmark.

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Employment
The following table shows employment, unemploym ent and labor force data for the City of Glendale for 2020 through 2024.

CITY OF GLENDALE

EMPLOYMENT, UNEMPLOYMENT AND LABOR FORCE
Averages for each of the Calendar Years 2020 through 2024

2020 2021 2022 2023 2024
Civilian Labor Force 96,500 96,500 95,800 96,0000 96,900 Employment 83,700 87,300 87,300 90,900 91,200
Unemployment 12,800 9,200 4,900 5,100 5,700
Unemployment Rate 13.3% 9.5% 5.1% 5.3% 5.9%
State Unemployment Rate 10.1% 7.3% 4.3% 4.7% 5.3%
____________________
Source: State of California, Employment Development Department.

Building Permit Activity
The following table shows the value of building permits issued in the City for the five fiscal years 2020-21 through 2024-25.

CITY OF GLENDALE

BUILDING PERMIT VALUATION
Fiscal Years Ended June 30, 2021 through 2025
(in Thousands of Dollars)
2021 2022 2023 2024 2025
Residential Valuation (thousands)
Single Family $19,310 $23,766 $24,760 [___] [___]
Multi-family/Commercial 18,850 43,680 16,520
Total $38,160 $67,446 $41,280

New Dwelling Units
Single Family 219 261 230
Multi-family/Commercial 2 6 6
Total 221 267 236
____________________
Source: City of Glendale.

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Taxable Sales
The following table shows taxable transactions in the City by type of business for calendar years 2020 through 2024. [Data for 2025 are not yet available.]

CITY OF GLENDALE

TAXABLE TRANSACTIONS BY TYPE OF BUSINESS
Calendar Years 2020 through 2024
(in Thousands of Dollars)
2020 2021 2022 2023 2024
Retail and Food Services
Clothing and Clothing
Accessories Stores
$231,047 $433,539 $457,119 $456,952 $470,472
General Merchandise Stores 154,038 230,603 230,836 224,042 224,497 Food and Beverage Stores 185,124 187,730 190,760 203,213 203,712 Food Services and Drinking
Places
296,689 434,029 507,531 529,204 542,439
Home Furnishings and
Appliance Stores
307,749 354,705 283,225 226,636 271,794
Building Materials and Garden
Equipment and Supplies
126,183 134,208 140,915 129,840 123,505
Motor Vehicle and Parts
Dealers
793,342 1,006,539 1,212,577 1,110,010 887,046
Gasoline Stations 131,997 203,478 280,642 259,788 236,786 Other Retail Group 201,339 254,906 297,951 306,6592 292,115 Total Retail and Food Services $2,427,510 $3,239,736 $3,601,556 $3,446,347 $3,252,366 All Other Outlets 572,879 715,420 898,079 874,738 804,556 Total All Outlets $3,000,390 $3,955,156 $4,499,635 $4,321,084 $4,056,922 ____________________
Note: Totals may not add due to rounding.

Source: California Department of Tax and Fee Administration.

Community Development and Transportation
The quality of life in the City is the result of the City’s focus on safety, neighborhood, community involvement, education and managed de velopment. A thriving corporate culture, top entertainment, and safe residential communities make the City a desirable place to live and work. The City’s unique downtown area is surrounded by office towers, a four-star Hilton Hotel, an Embassy Suites Hotel, Hyatt Hotel and more than 2,000,000 square feet of commercial retail between the indoor Glendale Galleria shopping mall and outdoor Americana lifestyle center. The City boasts two regional medical centers and a third community hospital aligned with Keck Medicine of the University of Southern California (USC). Glendale is surrounded by four major freeways and is only minutes from Hollywood-Burbank airport and downtown Los Angeles.
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Since the end of the Great Recession, Glendale has enjoyed a steady stream of new investment and development in and around its downtown area. With amenities such as the outdoor lifestyle center Americana at Brand and main street boutiques, restaurants and cafes combined with a progressive land use plan and safe environment, Glendale was poised fo r investment beginning in 2010. Continued capital investment has been seen throughout the City through business expans ion and attraction to Glendale’s central location, public safety record, and robust business environment. Implementing the Glendale Tech Strategy continues to strengthen local tech firms su ch as Service Titan, Age of Learning, Legal Zoom, DISQO, Cisco Systems, Phonexa, dot818, and Beyond Limits. Also of note are Glendale’s regional shopping centers, the Glendale Galleria, Americana at Brand, and Brand Boulevard of Cars. The Glenmark Hotel and Residence Inn by Marriott Los Angeles/Glendale join major hotels like Embassy Suites, Hyatt Place, and Hilton. A 154-room Hotel Indigo is expected to be added to the list of major downtown hotels by the end of the 4th quarter of 2025. Hotel users in the City include generally travelers for corporate, healthcare and leisure purposes. Glendale’s economy is diverse, primarily due to a mix of business and industry that operates within its borders.

Media continues to be a main business cluster in Glendale with both the Walt Disney Company and NBC/Universal’s DreamWorks Animation Campus located in Glendale. Since 2000, the Walt Disney Company has developed over 1,000,000 square feet of new office space in their existing 110-acre Grand Central Creative Campus including ABC7 Television Studio (the Los Angeles affiliate of ABC Television) and the historic rehabilitation of the Grand Central Ai r Terminal Building. Together with existing space, the Walt Disney Company occupies almost 3,000,000 s quare feet of space on their campus. Following their acquisition by NBC/Universal, DreamWorks has continued to occupy their 13-acre, 180,000 square foot campus adjacent to Disney’s Grand Central Creative Campus. Located only minutes from Hollywood, Glendale now houses Eastend Studios which features two purpose-built, state-of-the-art soundstages. The facility also offers a robust suite of office, production, support, mill, and parking spaces, as well as a rooftop terrace for hosting events.

The City offers quiet seclusion fro m the fast-paced southern Califor nia life style in its downtown adjacent neighborhoods. Public transportation is made easy with the City’s own Beeline shuttle system, which provides quick connections from public transportation centers throughout the city. Glendale is also home to the Larry Zarian Transportation Center, a restored historical train station, which serves the public at large including service from Amtrak and Greyhound. The City is working with LA Metro to increase train service through Glendale connecting to downtown Los Angeles and the Hollywood-Burbank Airport.

A viability study is currently underway to study a li ght-rail streetcar from the transportation center to downtown Glendale, linking the heart of the City to the regional transportation network. [Remainder of Page Intentionally Left Blank.]
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Overlapping Indirect Bonded Debt

OVERLAPPING INDIRECT DEBT
As of June 30, 2025
(in thousands) (unaudited)

Gross
Bonded Debt
Balance
Percent
Applicable
to the City
Amount
Applicable to
the City
Overlapping tax and assessment debt:

Metropolitan Water District $ 17,155 1.035% $ 178 Glendale Community College District 335,880 88.705% 297,942 Pasadena Area Community College Distric
t 149,370 0.129% 193
Glendale Unified School District 309,897 88.705% 274,894 La Canada Unified School District 100,770 1.514% 1,526
Total overlapping tax and assessment debt 574,733

Overlapping general fund debt:

Los Angeles County General Fund Obligation 3,036,637 2.004% 60,854 Los Angeles County Superintendent of Schools
Certificates of Participation
2,332 2.004% 47
Pasadena Area Community College District General
Fund Obligation
28,490 0.129% 37
Glendale Unified School District Certificates of
Participation
8,327 88.705% 7,386
Total overlapping general fund deb
t 68,324

Total indirect overlapping debt $643,057
_________________________________
Source: City of Glendale, Department of Finance and HdL Coren & Cone.

Overlapping governments are those that coincide, at least in part, with the geographic boundaries of the City. The percentage of overl apping debt applicable is estimated by using taxable assessed values.

Applicable percentages were estimated by determining the portion of another governmental unit’s taxable assessed value that is within the City’s boundaries and dividing it by each unit’s total taxable assessed value. The table above excludes tax and revenue an ticipation notes, enterprise revenue bonds, mortgage revenue bonds and non-bonded capital lease obligation.

Assessed Valuation and Tax Collections
Taxes are levied for each fiscal year on taxable real and personal property which is situated in the City as of the preceding March 1. For assessment and co llection purposes, property is classified either as “secured” or “unsecured” and is listed accordingly on separate parts of the assessment roll. The “secured roll” is that part of the assessment roll containing State-assessed property and real property having a tax lien which is sufficient, in the opinion of the Count y of Los Angeles Assessor, to secure payment of the taxes. Other property is assessed on the “unsecured roll.” Property taxes on the second roll are due as of the March 1 lien date and become delinquent, if unpaid, on August 31. A 10% penalty attaches to de linquent taxes on property of the unsecured roll, and an additional penalty of 1. 5% per month begins to a ccrue commencing on November 1 of the fiscal year. 210 of 280

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Collection of delinquent unsecured taxes is the responsibility of the County of Los Angeles using the several means legally available to it.

The tax roll for the fiscal year ended June 30, 20 25 indicates a total taxable assessed valuation for revenue purposes of approximately $42,129,317,000 for the City.

The following table shows the assessed property valua tions within the City for the past five fiscal years. Net assessed valuations reflect exemptions for homeowners and tax-exempt uses.

CITY OF GLENDALE

ASSESSED PROPERTY TAX VALUATIONS
Fiscal Years Ended June 30, 2021 through 2025
(In Thousands)
Fiscal
Year
Net Assessed
Valuations
2021 $35,535,397
2022 36,608,833
2023 38,599,865
2024 40,246,360
2025 42,129,317
____________________
Source: HdL Coren & Cone.

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Property Tax Collections
The following table shows the City’s property tax collections and adjustments for the fiscal years indicated.

CITY OF GLENDALE

PROPERTY TAX COLLECTIONS
Fiscal Years Ended June 30, 2021 through 2025*
(In Thousands)
Fiscal
Year
Collections Within
Fiscal Year of Levy
Collections in
Subsequent Fiscal
Years
Total Tax
Collections
Percent of
Levy
2021 $37,967 $651 $38,618 99%
2022 39,756 263 40,019 99
2023 42,767 471 43,238 100
2024 42,589 601 43,190 99
2025 45,354 - 45,354 95
____________________
* Education Revenue Augmentation Fund (ERAF) III payment to State, ERAF in lieu of Vehicle License Fee, SB211 Proposition Share for Central Project, supplemental property tax, and property tax penalty are excluded from property tax collections when compared to property tax levied in this table.

Source: City of Glendale and Los Angeles County Auditor Controller.

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Ten Largest Secured Taxpayers
The following table shows the ten largest secured ta xpayers of the City for the fiscal year ended June 30, 2025. These ten largest secured taxpayers re presented 8.12% of the City’s assessed valuation for the fiscal year ended June 30, 2025.

CITY OF GLENDALE

TEN LARGEST SECURED TAXPAYERS
Fiscal Year Ended June 30, 2025
(In Thousands)
Name Assessed Valuation

1. Walt Disney World Company $ 694,529

2. Glendale Mall Associates LLC 671,066

3. Americana at Brand LLC 518,025

4. BNTR Burbank Holdings LLC 339,691

5. Adrienne and Stanley A Sirott Trus t 217,134

6. GPI 500 Brand Limited 204,773

7. DWF V 655 North Central LLC 203,671

8. 120 W Wilson Avenue Apartments LP 198,939

9. Onni 700 Brand LP 187,948

10. Dignity Community Care Corpora
tion 180,385
Total $3,416,161
____________________
Source: HdL Coren & Cone.
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APPENDIX B

AUDITED FINANCIAL STATEMENTS OF THE
CITY’S ELECTRIC SYSTEM FOR THE FISCAL YEAR ENDED
JUNE 30, 2025

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APPENDIX C

BOOK-ENTRY SYSTEM
General
The Depository Trust Company (“DTC”), New York, New York, will act as securities depository for the 2026 Refunding Series Bonds. The 2026 Refunding Series Bonds will be issued as fully-registered securities registered in the name of Cede & Co. (DTC ’s partnership nominee) or such other name as may be requested by an authorized representative of DT C. One fully-registered 2026 Refunding Series Bond will be issued for each series and maturity of th e 2026 Refunding Series Bonds, each in the aggregate principal amount of such maturity, and will be deposited with DTC.

DTC, the world’s largest securities depository, is a limited-purpose trust company organized under the New York Banking Law, a “banking organization” within the meaning of the New York Banking Law, a member of the Federal Reserve System, a “clearing corporation” within the meaning of the New York Uniform Commercial Code, and a “clearing agency” registered pursuant to the provisions of Section 17A of the Securities Exchange Act of 1934. DTC holds and provides asset servicing for over 3.5 million issues of U.S. and non-U.S. equity issues, corporate and municipal debt issues, and money market instruments (from over 100 countries) that DTC’s participants (“Dir ect Participants”) deposit with DTC. DTC also facilitates the post-trade settlement among Direct Partic ipants of sales and other securities transactions in deposited securities, through electronic computerized book-entry transfers and pledges between Direct Participants’ accounts. This eliminates the need for physical movement of securities certificates. Direct Participants include both U.S. and non-U.S. securities brokers and dealers, banks, trust companies, clearing corporations, and certain other organizations. DTC is a wholly-owned subsidiary of The Depository Trust & Clearing Corporation (“DTCC”). DTCC is the holding company for DTC, National Securities Clearing Corporation and Fixed Income Clearing Corporation, all of which are registered clearing agencies. DTCC is owned by the users of its regulated subsidiaries. Access to the DTC system is also available to others such as both U.S. and non-U.S. securities brokers a nd dealers, banks, trust companies, and clearing corporations that clear through or maintain a custodial relationship with a Direct Participant, either directly or indirectly (“Indirect Participants”). DTC h as a S&P Global Ratings rating of AA+. The DTC Rules applicable to DTC’s participants are on file w ith the Securities and Exchange Commission. More information about DTC can be found at www.dtcc.co m. The information on such website is not incorporated herein by reference.

Purchases of the 2026 Refunding Series Bonds under the DTC book-entry system must be made by or through Direct Participants, which will recei ve a credit for the 2026 Refunding Series Bonds on DTC’s records. The ownership interest of each actual purchaser of each 2026 Refunding Series Bond (“Beneficial Owner”) is in turn to be recorded on the Direct and Indirect Participants’ records. Beneficial Owners will not receive written confirmation from DTC of their purchase. Beneficial Owners are, however, expected to receive written confirmations providing details of the transaction, as well as periodic statements of their holdings, from the Direct or Indirect Partic ipant through which the Beneficial Owner entered into the transaction. Transfers of ownership interest s in the 2026 Refunding Series Bonds are to be accomplished by entries made on the books of Direct and Indirect Participants acting on behalf of Beneficial Owners. Beneficial Owners will not receive certificates representing their ownership interests in the 2026 Refunding Series Bonds, except in the event that use of the book-entry system for the 2026 Refunding Series Bonds is discontinued.

To facilitate subsequent transfers, all 2026 Refunding Series Bonds deposited by Direct Participants with DTC are registered in the name of DTC’s part nership nominee, Cede & Co., or such other name as 215 of 280

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may be requested by an authorized representative of DTC. The deposit of 2026 Refunding Series Bonds with DTC and their registration in the name of Cede & Co. or such other DTC nominee do not effect any change in beneficial ownership. DTC has no know ledge of the actual Beneficial Owners of the 2026 Refunding Series Bonds. DTC’s records reflect only the identity of the Direct Participants to whose accounts such 2026 Refunding Series Bonds are credited, which may or may not be the Beneficial Owners.

The Direct and Indirect Participants will remain responsible for keeping account of their holdings on behalf of their customers.

Conveyance of notices and other communications by DTC to Direct Participants, by Direct Participants to Indirect Participants, and by Direct Participants and Indirect Participants to Beneficial Owners will be governed by arrangements among them, subject to any statutory or regulatory requirements as may be in effect from time to time. Beneficial Owners of the 2026 Refunding Series Bonds may wish to take certain steps to augment the transmission to them of notices of significant events with respect to the 2026 Refunding Series Bonds, such as redemptions (if a pplicable), defaults and proposed amendments to the Indenture. For example, Beneficial Owners of 2026 Refunding Series Bonds may wish to ascertain that the nominee holding the 2026 Refunding Series Bonds for their benefit has agreed to obtain and transmit notices to Beneficial Owners. In the alternative, Be neficial Owners may wish to provide their names and addresses to the Trustee, as bond registrar, and request that copies of notices be provided directly to them.

Redemption notices (if applicable) shall be sent to DTC. If less than all of the 2026 Refunding Series Bonds of a series and maturity are being redeemed, DTC’s practice is to determine by lot the amount of the interest of each Direct Participant in such maturity to be redeemed.

Neither DTC nor Cede & Co. (nor such other DTC nominee) will consent or vote with respect to 2026 Refunding Series Bonds unless authorized by a Di rect Participant in accordance with DTC’s MMI Procedures. Under its usual procedures, DTC mails an Omnibus Proxy to the City as soon as possible after the record date. The Omnibus Proxy assigns Cede & Co.’s consenting or voting rights to those Direct Participants to whose accounts 2026 Refunding Series Bonds are credited on the record date (identified in a listing attached to the Omnibus Proxy).

Principal, redemption price (if applicable) and interest payments on the 2026 Refunding Series Bonds will be made to Cede & Co. or such othe r nominee as may be requested by an authorized representative of DTC. DTC’s practice is to credit Direct Participants’ accounts upon DTC’s receipt of funds and corresponding detail information from the C ity or the Trustee, on each payment date in accordance with their respective holdings shown on DT C’s records. Payments by Direct and Indirect Participants to Beneficial Owners will be governed by standing instructions and customary practices, as is the case with securities held for the accounts of customers in bearer fo rm or registered in “street name,” and will be the responsibility of such participant and not of DTC, the Trustee or the City, subject to any statutory or regulatory requirements as may be in effect from time to time. Payment of principal, redemption price (if applicable) and interest to Cede & Co. (or such other nominee as may be requested by an authorized representative of DTC) is the responsibility of the City or the Trustee, disbursement of such payments to Direct Participants w ill be the responsibility of DTC, and disbursement of such payments to Beneficial Owners is the responsibility of Direct and Indirect Participants.

DTC may discontinue providing its services as securities depository with respect to the 2026 Refunding Series Bonds at any time by giving reasonable notice to the City or the Trustee. Under such circumstances, in the even t that a successor depository is not obtained, definitive 2026 Refunding Series Bonds are required to be printed and delivered.
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The City may decide to discontinue use of the system of book-entry transfers through DTC (or a successor securities depository). In that event, definitive 2026 Refunding Series Bonds will be printed and delivered.

The foregoing description concerning DTC and DT C’s book-entry system is based solely on information furnished by DTC. No representation is made herein by the City as to the accuracy or completeness of such information, and the City takes no responsibility for the accuracy or completeness thereof.

Discontinuation of the Book-Entry System
If DTC determines not to continue to act as secur ities depository by giving notice to the City and the Trustee, and discharges its responsibilities with resp ect thereto under applicable law and there is not a successor securities depository, or the City determines that it is in the best interest of the Beneficial Owners of the 2026 Refunding Series Bonds that they be able to obtain certificates, the Trustee will execute, transfer and exchange 2026 Refunding Se ries Bonds as requested by DTC a nd will deliver new 2026 Refunding Series Bonds in fully registered form in authorized denominations in the names of Beneficial Owners or DTC Participants.

If the book-entry system is discontinued, the principal amount of and premium, if any, payable with respect to the 2026 Refunding Series Bonds will be payable upon surrender thereof at the principal corporate trust office of the Trustee. The interest on 2026 Refunding Series Bonds will be payable by check mailed to the respective Owners thereof at their addresses as they appear on the books maintained by the Trustee.

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APPENDIX D

SUMMARY OF CERTAIN PROVISIONS OF THE INDENTURE OF TRUST Certain provisions of the Indenture of Trust are summarized below. The summary does not purport to be complete or definitive and is qualified in its entirety by reference to the full terms of the Indenture of Trust.

Definitions
“Accreted Value” means, with respect to any Cap ital Appreciation Indebtedness or any Convertible Capital Appreciation Indebtedness, the am ount representing principal and interest on (i) such Capital Appreciation Indebtedness at or prior to the matu rity date thereof or (ii) such Convertible Capital Appreciation Indebtedness at and prior to the expiration of the Accretion Period ther eof, being, in either case, as of any date of computation an amount equal to the principal amount of such Capital Appreciation Indebtedness or Convertible Capita l Appreciation Indebtedness at its initial offering plus the interest accrued thereon from the date of delivery thereof to th e dates specified in the Supplemental Indenture of Trust or other document providing for such Capita l Appreciation Indebtedness or Convertible Capital Appreciation Bond, such interest to accrue at the rate per annum established as provided in a Supplemental Indenture of Trust or other document providing for such Capital Appreciation Indebtedness or Convertible Capital Appreciation Indebtedness, compounded periodically, plus, with r espect to matters relating to the payment upon redemption of such Capital Appreciation Indebtedness or Convertible Capital Appreciation Indebtedness, if such date of computation shall not be one of such specified dates, the ratable portion of the difference between the Accreted Value as of the immediately preceding such specified date (or the date of delivery thereof if the date of computation is prior to the first such specified date succeeding the date of delivery) and the Accreted Value as of the immediat ely succeeding such specified date, calculated based on the assumption that the Accreted Value accrues during any period in equal daily amounts on the basis of a year of twelve 30-day months.
“Accretion Period” means, with respect to any particular Convertible Capital Appreciation Indebtedness, the period from the da te of delivery thereof through the date specified in the Supplemental Indenture of Trust or other document providing for such Convertible Capital Appreciation Indebtedness (which date must be prior to the maturity date ther eof), after which interest accruing on such Convertible Capital Appreciation Indebtedness shall be payable sem iannually, with the first such payment date being the applicable interest payment date immediately succeeding the expiration of the Accretion Period. “Annual Debt Service” means for any Fiscal Year the aggregate amount of principal and interest on all Bonds and Parity Obligations becoming due a nd payable during such Fiscal Year calculated using the principles and assumptions set forth under the definition of Debt Service. “Assumed Debt Service” means for any Fiscal Year the aggregate amount of principal and interest which would be payable on all Bonds and Parity Ob ligations if each Excluded Principal Payment were amortized for a period specified by the City (but no l onger than thirty (30) years from the date of the issuance of the Bonds or Parity Obligations to which such Excluded Principal Payment relates) on a substantially level debt service basis, calculated based on a fixed interest rate equal to the rate at which the City could borrow for such period, as certified by a cer tificate of a financial advisor or investment banker delivered to the Trustee, who may rely conclusively on such certificate, within thirty (30) days of the date of calculation.
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“Authorized City Representative” means any officer or agent of the City duly authorized to perform any function required of such person under the Indenture of Trust. “Average Annual Debt Service” means, as of any date of calcula tion, an amount equal to (i) the Debt Service remaining to be paid on all Bonds and Pa rity Obligations on the date of calculation, divided by (ii) the number of Fiscal Years (or partial year s) commencing with the Fiscal Year of the date of calculation to and including the Fiscal Year which incl udes the first date on which none of such Bonds or Parity Obligations remains Outstanding. Such interest and principal shall be calculated on the assumption that no Bonds or Parity Obligations at the date of calculation shall cease to be Outstanding except by reason of the payment when due of each principal installment (including mandatory sinking account payments). “Bond Obligation” means, as of any given date of calculation, (i) with respect to any Outstanding Bond or Parity Obligation which is Current Interest Indebtedness or Convertible Capital Appreciation Indebtedness after the expiration of the Accretion Period thereof, the principal amount thereof, and (ii) with respect to any Outstanding Bond or Parity Obligat ions which are Capital A ppreciation Indebtedness or Convertible Capital Appreciation Indebtedness at and prior to the expiration of the Accretion Period thereof, the Accreted Value thereof.
“Bonds” means the City of Glendale, California Electric Revenue Bonds, authorized by, and at any time Outstanding pursuant to, the Indenture of Trust and any Supplemental Indenture of Trust. “Business Day” means any day other than (i) a Saturday, Sunday, or a day on which banking institutions in the State or the State of New York are authorized or obligated by law or executive order to be closed, and (ii) for purposes of payments and other actions relating to Bonds secured by a letter of credit, a day upon which commercial banks in the city in whic h is located the office of the issuing bank at which demands for payment under the letter of credit are to be presented are authorized or obligated by law or executive order to be closed.
“Capital Appreciation Indebtedness” means Bonds and Parity Obligations on which interest is compounded and paid less frequently than annually (not constituting Convertible Capital Appreciation Indebtedness).
“Certificate,” “Statement,” “Request,” “Requisition” and “Order” of the City mean, respectively, a written certificate, statement, request, requisition or order signed in the name of the City by an Authorized City Representative or any other person authorized by an Authorized City Representative to execute such instruments.
“Charter” means the Charter of the City, as it may be amended from time to time. “City” means the City of Glendale, California, a chartered city of the State, organized and existing under and by virtue of the Constitution and laws of the State. “City Council” means the City Council of the City of Glendale, California. “Code” means the Internal Revenue Code of 1986, a nd the regulations issued thereunder, as the same may be amended from time to time, and any successo r provisions of law. Reference to a particular section of the Code shall be deemed to be a reference to any successor to any such section. “Continuing Disclosure Agreement” means any Continuing Disclosure Agreement relating to any Series of Bonds.
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“Convertible Capital Appreciation Indebtedness” means any Bonds and Parity Obligations as to which interest accruing is not paid prior to the expiration of the speci fied Accretion Period and, prior thereto, is compounded periodically on certain designated dates. “Costs of Issuance” means, with respect to each Series of Bonds, all items of expense directly or indirectly payable by or reimbursable to the City and reasonably related to the authorization, issuance, sale and delivery of each Series of Bonds , including but not limited to adver tising and printing costs, costs of preparation and reproduction of documents, legal fees and charges, fees and disbursements of consultants and professionals, rating agency fees, fees and char ges for preparation, execution, transportation and safekeeping of each Series of Bonds and any other cost , charge or fee in connection with the original issuance of each Series of Bonds.
“Current Interest Indebtedness” means the Bonds and Parity Oblig ations on which interest is paid at least annually.
“Debt Service” means the amount of principal and interest becoming due and payable on all Bonds and Parity Obligations; provided, however, that for the purposes of computing Debt Service:
(a) Excluded Principal Payments shall be excluded from such calculation and Assumed Debt Service shall be included in such calculation; (b) if the Bonds or Parity Obligations are Variable Rate Indebtedness, the interest rate thereon for periods when the actual interest rate cannot yet be determined shall be assumed to be equal to the rate that is ninety percent (90%) of the average RBI during the twelve (12) calendar month period immediately preceding the date in which the calculation is made (the “assumed RBI- based rate”);
(c) principal and interest payments on Bonds and Parity Obligations shall be excluded to the extent such payments are to be paid fro m amounts on deposit with the Trustee or another fiduciary in escrow specifically therefor and to the extent that such interest payments are to be paid from the proceeds of Bonds or Parity Obligations held by the Trustee or another fiduciary as capitalized interest;
(d) in determining the principal amount, paym ent shall (unless a different subsection of this definition applies for purposes of determ ining principal maturities or amortization) be assumed to be made in accordance with any am ortization schedule established for such debt, including any mandatory sinking account payments or any scheduled redemption or payment of Bonds or Parity Obligations constituting Capital Appreciation Indebtedness or Convertible Capital Appreciation Indebtedness at or prior to the ex piration of the Accretion Period on the basis of Accreted Value, and for such purpose, the redemption payment or payment of Accreted Value shall be deemed a principal payment and interest that is compounded and paid as Accreted Value shall be deemed due on the scheduled redemption or payment date of such Capital Appreciation Indebtedness or Convertible Capital Appreciation I ndebtedness at or prior to the expiration of the Accretion Period;
(e) if any interest rate swap agreement is in effect with respect to, and is payable on a parity with, the Bonds or Parity Obligations to which it relates, no amounts payable under such interest rate swap agreement shall be included in the calculation of Debt Service unless the sum of (i) interest payable on such Bonds or Parity Obligations, plus (ii) amounts payable by the City under such interest rate swap agreement, less (iii) amounts receivable by the City under such interest rate swap agreement are greater than the interest payable on the Bonds or Parity Obligations to which 220 of 280

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it relates, then, in such instance, the amount of su ch payments to be made that exceed the interest to be paid on the Bonds or Parity Obligations shall be included in such calculation. For such purposes, the variable amount under any such interest rate swap agreement shall be assumed to be equal to the assumed RBI-based rate; and
(f) if any Bonds or Parity Obligations include an option or an obligation to tender all or a portion of such Bonds or Parity Obligations to the City, the Trustee or another fiduciary or agent and require that such Bonds or Parity Obligations or portion thereof be purchased if properly presented, then for purposes of determining the am ounts of principal and interest due, the options or obligations to tender shall be treated as a principal maturity occurring on the first date on which holders or owners thereof may or are required to tender, except that any such option or obligation to tender shall be ignored and not treated as a principal maturity, if (1) such Bonds or Parity Obligations are rated in one of the two highest long-term Rating Categories by Fitch and Standard & Poor’s or such Bonds or Parity Obligations are rated in the highest short-term, note or commercial paper Rating Categories by Fitch and Standard & Poor’s and (2) funds for the purchase price are to be provided by a letter of credit or standby bond purchase agreement and the obligation of the City with respect to the provider of such letter of credit or standby bond purchase agreement, other than its obligations on such Bonds or Pa rity Obligations, shall be subordinated to the obligation of the City on the Bonds and Parity Obligations. “Department” means Glendale Water and Power.
“Electric System” means the entire system and facilities of the City for the development, transmission and distribution of electric energy and power for light, heat and power purposes and for the providing of any other services and/or products that may be lawfully provided by such system and facilities, as said system and facilities now exist and including all additions, extensions and improvements later constructed or acquired.
“Electric Works Revenue Fund” means the electric works revenue fund authorized by Section 20 of Article XI of the Charter, the moneys in which are derived from, among other things, (i) the payment for electrical energy generated by the power division of the Department and any service rendered in connection therewith; (ii) the sale, lease or other disposition of any property acquired with funds or property of the Electric System; and (iii) any special taxes at any time authorized for the purpose of the Electric System. “Event of Default” means any of the events specified in Section 6.01 of the Indenture of Trust. “Excluded Principal Payments” means each payment of principal (or the principal component of lease or installment purchase payments) of Bonds or Parity Obligations which the City determines on a date not later than the date of issuance thereof that the City intends to pay with moneys which are not Gross Revenues or Net Income but from the proceeds of future debt obligations of the City and the Trustee may rely conclusively on such determination of the City.
“Federal Securities” means (i) direct obligations of th e United States of America (including obligations held or issued in book-entry form on the books of the Department of the Treasury of the United States of America and “CATS” and “TIGRS”) or (ii) obligations the timely payment of the principal of and interest on which are fully and unconditionally guaranteed by the United States of America. “Fiscal Year” means any twelve (12) consecutive calendar months commencing with the first day of July and ending on the last day of the following J une or such other twelve-month period as the City Council may designate.
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“Fitch” means Fitch IBCA, Inc., a corporation duly organized and existing under and by virtue of the laws of the State of Delaware, and its successors and assigns, except that if such a corporation shall be dissolved or liquidated or shall no longer perform the functions of a securities rating agency, then the term “Fitch” shall be deemed to refer to any other nationally recognized securities rating agency selected by the City.
“Gross Revenues” means all revenues, charges, income and receipts derived by the Department from the operation of the Electric System or arising from the Electric System (including all revenues, charges, income and receipts received by the Departme nt from the services, facilities and distribution of electric energy by the Department), including, but not limited to (i) income from investments and (ii) only for the purposes of determining complia nce with the rate covenant in th e Indenture of Trust, the amounts on deposit in any unrestricted funds of the Electric System designated by the City Council by resolution (or by approval of a budget of the Electric Works Revenue Fund providing for such transfer) and available for the purpose of paying Maintenance and Operating Expe nses and/or Debt Service on the Bonds and/or any Parity Obligations then outstanding, but excepting th erefrom (a) all refundable charges and deposits to secure service and (b) any charges collected by any person to amortize or otherwise relating to the payment of the uneconomic portion of costs associated with assets and obligations (“stranded costs”) of the Electric System or of any joint powers agency in which the City participates which the City has dedicated solely to the payment of obligations other than the Bonds or a ny Parity Obligations then outstanding, the payments of which obligations shall be applied solely to or pl edged solely to or otherwise set aside solely for the reduction or retirement of outstanding obligations of the City or any joint powers agency in which the City participates relating to such “stranded costs” of the City or of any such joint powe rs agency to the extent such “stranded costs” are attributable to, or the responsibility of, the City. Amounts, if any, on deposit in the City’s Stranded Investment Account shall be available (in accordance with the City’s Resolution No. 03-156, adopted on July 22, 2003) for the pur pose of paying, among other things, Maintenance and Operating Expenses to at least the extent necessary to comply with Section 5.03 (relating to the rate covenant of the City) and, only fo r purposes of determining complian ce with such Section 5.03, shall constitute “Gross Revenues” under the Indenture of Trust to the extent of any moneys therein available to pay Maintenance and Operating Expenses. See “Covenants – Rates and Charges.” “Indenture of Trust” or “Indenture” means the Indenture of Trust, dated as of February 1, 2000, by and between the Trustee and the City, as origin ally executed or as it may from time to time be supplemented or amended by any Supplemental Indenture of Trust delivered pursuant to the provisions of the Indenture of Trust.
“Investment Securities” means (i) any permissible investments of funds of the City as stated in its current investment policy and to the extent then permitted by law; (ii) a repurchase agreement with a state or nationally chartered bank or trust company or a national banking association or government bond dealer reporting to, trading with, and recognized as a primary dealer by the Federal Reserve Bank of New York, provided that the following conditions are satisfied:
(1) The agreement is secured by any direct oblig ations of the United States of America (including obligations issued or held in book entry form on the books of the United States Department of the Treasury) and obligations, the payment and principal of and interest on which are directly or indirectly guaranteed by the United States of America; (2) The underlying securities are required by the re purchase agreement to be held by a bank, trust company, or primary dealer having a comb ined capital and surplus of at least one hundred million dollars and which is independent of the issuer of the repurchase agreement; and 222 of 280

Glendale City CouncilMarch 31, 2026

Glendale City Council
March 31, 2026