DocuSign Envelope ID: 9838906A- 0036- 41 F6 -8D00 - 2E462682631 D required by law, from the date of termination or completion of this Agreement.
G. Any records or documents required to be maintained pursuant to this Agreement shall be made available far inspection or audit, at any time during regular business hours, upon written request by the City Manager, City Attorney, City Auditor or a designated representative of these officers. Copies of such documents shall be provided to the City for inspection at City Hall when it is practical to do so. Otherwise, unless an alternative is mutually agreed upon, the records shall be available at Contractor' s address indicated for receipt of notices in this Agreement. d. Where City has reason to believe that such records or documents may be lost or discarded due to dissolution, disbandment or termination of Contractor' s business, City may, by written request by any of the above- named officers, require that custody of the records be given to the City and that the records and documents be maintained in City Hall. Access to such records and documents shall be granted to any party authorized by Contractor, Contractor's representatives, or Contractor' s successor - in -interest.
9. Independent Contractor.
a. Contractor is and shall at all times remain as to the City a wholly independent contractor pursuant to California Labor Code Section 3353. The personnel performing the services under this Agreement on behalf of Contractor shall at all times be under Contractor' s exclusive direction and control. Neither City nor any of its officers, employees, or agents shall have control over the conduct of Contractor or any of Contractor' s officers, employees, or agents, except as set forth in this Agreement. Contractor shall not at any time or in any manner represent that it or any of its officers, employees, or agents are in any manner officers, employees, or agents of the City.
Contractor shall not incur or have the power to incur any debt, obligation, or liability whatsoever against City, or bind City in any manner.
b. Notwithstanding any other federal, state and local laws, codes, ordinances and regulations to the contrary, Contractor and any of its employees, agents, and subcontractors providing service under this Agreement shall not qualify for or become entitled to, and hereby agree to waive any claims to, any compensation, benefit, or any incident of employment by City, including but not limited to eligibility to enroll in PERS as an employee of City and entitlement to any contribution to be paid by City for employer contribution and/ or employee contributions for PERS benefits.
19. PERS Eligibility Indemnification. In the event that Contractor or any employee, agent, or subcontractor of Contractor providing services under this Agreement claims or is determined by a court of competent jurisdiction or the California Public Employees Retirement System ( PERS) to be eligible for enrollment in PERS as an employee of the City, Contractor shall indemnify, defend, and hold harmless City for the payment of any employee and/ or employer contributions for PERS benefits on behalf of Contractor or its employees, agents, or subcontractors, as well as for the payment of any penalties and interest on such contributions, which would otherwise be the responsibility of City.
11. Interests of Contractor. Contractor ( including principals, associates and management employees) covenants and represents that it does not now have any investment or interest in real property and shall not acquire any interest, direct or indirect, in the area covered by this Agreement or any other source of income, interest in real property or investment which would be affected in any manner or degree by the performance of Contractor' s services hereunder. Contractor further covenants and represents that in the performance of its duties hereunder no person having any such interest shall perform any services under this Agreement.
DocuSign Envelope ID: 9838906A- 0036- 41 F6 -8D00 - 2E462682631 D Contractor is not a designated employee within the meaning of the Political Reform Act because Contractor:
a. will conduct research and arrive at conclusions with respect to his/ her rendition of information, advice, recommendation or counsel independent of the control and direction of the City or of any City official, other than normal agreement monitoring; and b. possesses no authority with respect to any City decision beyond rendition of information, advice, recommendation or counsel. ( FPPC Reg. 18700( a) ( 2).)
12. Ability of Contractor. City has relied upon the training and ability of Contractor to perform the services hereunder as a material inducement to enter into this Agreement. Contractor shall therefore provide properly skilled personnel to perform all services under this Agreement. All work performed by Contractor under this Agreement shall be in accordance with applicable legal requirements and shall meet the standard of quality ordinarily to be expected of competent contractors in Contractor' s field of expertise.
13. Compliance with Laws.
a. Contractor shall comply with all local, state and federal laws and regulations applicable to the services required hereunder, including any rule, regulation or bylaw governing the conduct or performance of Contractor and/ or its employees, officers, or board members. b. Contractor represents that it has obtained and will maintain at all times during the term of this Agreement all professional and/ or business licenses, certifications and/ or permits necessary for performing the services described in this Agreement, including a City business license.
14. Licenses. Contractor represents and warrants to City that it has the licenses, permits, qualifications, insurance and approvals of whatsoever nature, which are legally required of Contractor to practice its profession. Contractor represents and warrants to City that Contractor shall, at its sole cost and expense, keep in effect or obtain at all times during the term of this Agreement, any licenses, permits, insurance and approvals which are legally required of Contractor to practice its profession.
Contractor shall maintain a City of Lake Elsinore business license.
15. Indemnity. Contractor shall indemnify, defend, and hold harmless the City and its officials, officers, employees, agents, and volunteers from and against any and all losses, liability, claims, suits, actions, damages, and causes of action arising out of any personal injury, bodily injury, loss of life, or damage to property, or any violation of anyfederal, state, or municipal law orordinance, to the extent caused, in whole or in part, by the willful misconduct or negligent acts or omissions of Contractor or its employees, subcontractors, or agents, by acts for which they could be held strictly liable, or by the quality or character of their work. The foregoing obligation of Contractor shall not apply when ( 1) the injury, loss of life, damage to property, or violation of law arises from the sole negligence or willful misconduct of the City or its officers, employees, agents, or volunteers and ( 2) the actions of Contractor or its employees, subcontractor, or agents have contributed in no part to the injury, loss of life, damage to property, or violation of law. It is understood that the duty of Contractor to indemnify and hold harmless includes the duty to defend as set forth in Section 2778 of the California Civil Code. Acceptance by City of insurance certificates and endorsements required under this Agreement does not relieve Contractor from liability under this indemnification and hold harmless clause. This indemnification and hold harmless clause shall applyto any damages orclaims for damages whether or not such insurance policies shall have been determined to apply. By execution of this Agreement, Contractor acknowledges and agrees to the provisions of this Section and that it is a material element of consideration.
DocuSign Envelope ID: 9838906A- 0038- 41 F6 -8D00 - 2E462682631 D
16. Insurance Requirements .
a. Insurance. Contractor, at Contractor' s own cost and expense, shall procure and maintain, for the duration of the contract, unless modified by the City's Risk Manager, the following insurance policies.
i. Workers' Compensation Coverage. Contractor shall maintain Workers' Compensation Insuranee and Employer's Liability Insurance for his/her employees in accordance with the laws of the State of California. In addition, Contractor shall require each subcontractor to similarly maintain Workers' Compensation Insurance and Employer' s Liability Insurance in accordance with the laws of the State of California for all of the subcontractor' s employees. Any notice of cancellation or non -renewal of all Workers' Compensation policies must be received by the City at least thirty 30) days prior to such change. The insurer shall agree to waive all rights of subrogation against City, its officers, agents, employees and volunteers for losses arising from work performed by Contractor for City. In the event that Contractor is exempt from Worker' s Compensation Insurance and Employer' s Liability Insurance for his/ her employees in accordance with the laws of the State of California, Contractor shall submit to the City a Certificate of Exemption from Workers Compensation Insurance in a form approved by the City Attorney.
ii. General Liability Coverage. Contractor shall maintain commercial general liability insurance in an amount not less than one million dollars ($ 1, 000, 000) per occurrence for bodily injury, personal injury and property damage. If a commercial general liability insurance form or other form with a general aggregate limit is used, either the general aggregate limit shall apply separately to the work to be performed under this Agreement or the general aggregate limit shall be at least twice the required occurrence limit. Required commercial general liability coverage shall be at least as broad as Insurance Services Office Commercial General Liability occurrence form CG 0001 ( ed. 11188) or Insurance Services Office form number GL 0002 ( ed. 1173) covering comprehensive General Liability and Insurance Services Office form number GL 0404 covering Broad Form Comprehensive General Liability. No endorsement may be attached limiting the coverage.
iii. Automobile Liability Coverage. Contractor shall maintain automobile liability insurance covering bodily injury and property damage for all activities of the Contractor arising out of or in connection with the work to be performed under this Agreement, including coverage for owned, hired and non -owned vehicles, in an amount of not less than one million dollars 1, 000, 000} combined single limit for each occurrence. Automobile liability coverage must be at least as broad as Insurance Services Office Automobile Liability form CA 0001 ( ed. 12/ 90) Code 1 any auto"). No endorsement may be attached limiting the coverage. b. Endorsements. Each general liability and automobile liability insurance policy shall be with insurers possessing a Best' s rating of no less than A:VII and shall be endorsed with the following specific language:
i. Notwithstanding any inconsistent statement in any required insurance policies or any subsequent endorsements attached thereto, the protection offered by all policies, except for Workers' Compensation, shall bear an endorsement whereby it is provided that, the City and its officers, employees, servants, volunteers and agents and independent contractors, including without limitation, the City Manager and City Attorney, are named as additional insureds. Additional insureds shall be entitled to the full benefit of all insurance policies in the same manner and to the same extent as any other insureds and there shall be no limitation to the benefits conferred upon them other than policy limits to coverages.
This policy shall be considered primary insurance as respects the City,
DocuSign Envelope ID: 9838906A- 0038- 41 F6 -8D00 - 2E462682631 D its elected or appointed officers, officials, employees, agents and volunteers. Any insurance maintained by the City, including any self-insured retention the City may have, shall be considered excess insurance only and shall not contribute with it. iii. This insurance shall act for each insured and additional insured as though a separate policy had been written for each, except with respect to the limits of liability of the insuring company.
iv. The insurer waives all rights of subrogation against the City, its elected or appointed officers, officials, employees or agents.
V. Any failure to comply with reporting provisions of the policies shall not affect coverage provided to the City, its elected or appointed officers, officials, employees, agents or volunteers.
vi. The insurance provided by this Policy shall not be suspended, voided, canceled, or reduced in coverage or in limits except after thirty ( 30) days written notice has been received by the City.
c. Deductibles and Self -Insured Retentions. Any deductibles or self-insured retentions must be declared to and approved by the City. At the City' s option, Contractor shall demonstrate financial capability for payment of such deductibles or self-insured retentions. d. Certificates of Insurance. Contractor shall provide certificates of insurance with original endorsements to City as evidence of the insurance coverage required herein. Certificates of such insurance shall be filed with the City on or before commencement of performance of this Agreement. Current certification of insurance shall be kept on file with the City at all times during the term of this Agreement.
17. Notices. Any notice required to be given under this Agreement shall be in writing and either served personally or sent prepaid, first class mail. Any such notice shall be addressed to the other party at the address set forth below. Notice shall be deemed communicated within 48 hours from the time of mailing if mailed as provided in this section.
If to City: City of Lake Elsinore
Attn: City Manager
130 South Main Street
Lake Elsinore, CA 92530
With a copy to: City of Lake Elsinore
Attn: City Clerk
130 South Main Street
Lake Elsinore, CA 92530
If to Contractor: The Landscape Center
Attn: Mark Barrett
9505 Cleveland Avenue
Riverside, CA 92503
DocuSign Envelope ID: 9838906A- 0036- 41 F6 -8D00 - 2E462682631 D
18. Assignment and Subcontractina. The parties recognize that a substantial inducement to City for entering into this Agreement is the reputation, experience and competence of Contractor.
Contractor shall be fully responsible to City for all acts or omissions of any subcontractors.
Assignments of any or all rights, duties or obligations of the Contractor under this Agreement will be permitted only with the express consent of the City. Contractor shall not subcontract any portion of the work to be performed under this Agreement without the written authorization of the City. If City consents to such subcontract, Contractor shall be fully responsible to City for all acts or omissions of those subcontractors. Nothing in this Agreement shall create any contractual relationship between City and any subcontractor nor shall it create any obligation on the part of the City to pay or to see to the payment of any monies due to any such subcontractor other than as otherwise is required by law.
19. Waiver. Waiver of a breach or default under this Agreement shall not constitute a continuing waiver of a subsequent breach of the same or any other provision under this Agreement.
20. Litigation Expenses and Attorneys' Fees. If either party to this Agreement commences any legal action against the other party arising out of this Agreement, the prevailing party shall be entitled to recover its reasonable litigation expenses, including court costs, expert witness fees, discovery expenses, and attorneys' fees.
21. Mediation. The parties agree to make a good faith attempt to resolve any disputes arising out of this Agreement through mediation prior to commencing litigation. The parties shall mutually agree upon the mediator and share the costs of mediation equally. If the parties are unable to agree upon a mediator, the dispute shall be submitted to JAMS or its successor in interest. JAMS shall provide the parties with the names of five qualified mediators. Each party shall have the option to strike two of the five mediators selected by JAMS and thereafter the mediator remaining shall hear the dispute. If the dispute remains unresolved after mediation, either party may commence litigation.
22. Prohibited Interests. Contractor maintains and warrants that it has not employed nor retained any company or person, other than a bona fide employee working solely for Contractor, to solicit or secure this Agreement. Further, Contractor warrants that it has not paid nor has it agreed to pay any company or person, other than a bona fide employee working solely for Contractor, any fee, commission, percentage, brokerage fee, gift or other consideration contingent upon or resulting from the award or making of this Agreement. For breach or violation of this warranty, City shall have the right to rescind this Agreement without liability. For the term of this Agreement, no member, officer or employee of City, during the term of his or her service with City, shall have any direct interest in this Agreement, or obtain any present or anticipated material benefit arising therefrom.
23. Equal Opportunity Employment. Contractor represents that it is an equal opportunity employer and it shall not discriminate against any subcontractor, employee or applicant for employment because of race, religion, color, national origin, handicap, ancestry, sex or age. Such non- discrimination shall include, but not be limited to, all activities related to initial employment, upgrading, demotion, transfer, recruitment or recruitment advertising, layoff or termination.
24. Prevailing Wages. Contractor is aware of the requirements of California Labor Code Section 1720, et seq., and 1770, et seq., as well as California Code of Regulations, Title 8, Section 15000, et seq., (" Prevailing Wage Laws"), which require the payment of prevailing wage rates and the performance of other requirements on " public works" and " maintenance" projects. Contractor agrees to fully comply with all applicable federal and state labor laws ( including, without limitation, if applicable, the Prevailing Wage Laws). It is agreed by the parties that, in connection with the work or services provided pursuant to this Agreement, Contractor shall bear all risks of payment or nonpayment of prevailing wages under California law, and Contractor hereby agrees to defend,
DocuSign Envelope ID: 9838906A- 0036- 41 F6 -8D00 - 2E462682631 D indemnify, and hold the City, and its officials, officers, employees, agents, and volunteers, free and harmless from any claim or liability arising out of any failure or alleged failure to comply with the Prevailing Wage Laws. The foregoing indemnity shall survive termination of this Agreement.
25. Severability. If any term or portion of this Agreement is held to be invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions of this Agreement shall continue in full force andeffect.
2$. Controlling Law Venue. This Agreement and all matters relating to it shall be governed by the laws of the State of California and any action brought relating to this Agreement shall be held exclusively in a state court in the County of Riverside.
27. Authority to Enter Agreement. Contractor has all requisite power and authority to conduct its business and to execute, deliver, and perform the Agreement. Each party warrants that the individuals who have signed this Agreement have the legal power, right, and authority to make this Agreement and to bind each respective party. The City Manager is authorized to enter into an amendment or otherwise take action on behalf of the City to make the following modifications to the Agreement: ( a) a name change; ( b) grant extensions of time; ( c) non -monetary changes in the scope of services; and/ or (d) suspend or terminate the Agreement.
28. Counterparts. This Agreement may be executed in several counterparts, each of which shall constitute one and the same instrument and shall become binding upon the parties when at least one copy hereof shall have been signed by both parties hereto. In approving this Agreement, it shall not be necessary to produce or account for more than one such counterpart.
29. Entire Agreement: Incorporation: Conflict. This Agreement contains the entire understanding between the parties relating to the obligations described herein. All prior or contemporaneous understandings, agreements, representations and statements, oral or written, are superseded in total by this Agreement and shall be of no further force or effect. Contractor' s Proposal is incorporated only for the description of the scope of services and/ or the schedule of performance and no other terms and conditions from such proposal shall apply to this Agreement unless specifically agreed to in writing. In the event of conflict, this Agreement shall take precedence over those contained in the Contractor' s Proposal.
30. Amendments. This Agreement may be modified or amended only by a written document executed by both Contractor and City and approved as to form by the City Attorney.
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed on the date first written above.
CITY OF LAKE ELSINORE, a municipal
corporation
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DocuSign Envelope ID: 9838906A- 0038- 41 F6 -8D00 - 2E462682631 D City Manager
ATTEST:
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APPROVED AS TO FORM:
DocuSigned by:
City Attorney
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Assis ant i y Manager
Attachments: Exhibit A — Contractor' s Proposal
By: Mark Barrett
Its: President
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COVER LETTER
August 23, 2022
Subject: Request for Proposals General Contractor Services On -Call & Minor Construction
To Whom it May Concern,
This letter certifies that, Mark Barrett, is authorized to contract on behalf of B & B Nurseries, Inc. dba The Landscape Center. Mark Barrett is the President of B & B Nurseries, Inc. dba The Landscape Center which has a primary office address of 9505 Cleveland Avenue Riverside, CA 92503. This is binding for a term of 120 days from the date of submittal to the City of Lake Elsinore.
If you should have any questions please do not hesitate to contact the company office at ( 951) 352- 8383.
Sincerely,
The Landscape C rater
Mark Barrett
President
B & B Nurseries, Inc. dba The Landscape Center
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CONTRACTOR' S INFORMATION
1. Contractor' s Area of Expertise
a. B & B Nurseries, Inc. dba The Landscape Center specializes in the relocation/ transplanting of large specimen palms and trees. It also specializes in the growing and selling of large specimen palms and trees. Other areas of capabilities are performing tree trimming, tree removal, landscape instal lationlrenovation and irrigation installation along with irrigation repair work.
2. Organizational Structure
a. B & B Nurseries, Inc. dba The Landscape Center is a S -Corp b. Incorporated in California in 1985.
c. Marls A. Barrett is the President, Secretary and Treasurer
3. Principal Office Location
a. 9505 Cleveland Avenue Riverside, CA 92503
b. Telephone 951- 352- 8383 Fax 951- 352- 3655
4. Number of Personnel
a. 20 personnel available to perform work as part of this project.
5. Employee Qualifications
a. Dillon Reynolds- ISA Certified Arborist, Qualified Pesticide Applicator b. Carl Mangold- Certified Crane Operator
c. Apolinar Tavira- Certified Crane Operator
6. Cost Proposal for Services
a. Landscape Laborer Prevailing Wage Rate Reg Hours= $ 95. 00 per hour b. Landscape Operating Engineer Wage Rate Reg Hours= $ 120. 00 per hour c. Crane Operating Engineer Wage Rate Reg Hours= $ 140. 00 per hour DocuSign Envelope ID: 9838906A - 003B- 41 F6 -8D00 -2E462682631 D as
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RELATED PROJECT EXPERIENCE AND CLIENT REFERENCES
1. Mike Leggett -City of Anaheim Public Works Operations Superintendent a. 714- 755- 5934
b. mleg}7ettganaheim. net
c. Various projects performing removal and replacement of palm trees in Anaheim.
d. Various projects performing transplanting of palm trees in Anaheim.
2. Peter Provenzale- City of Santa Monica Urban Forest Supervisor a. 314- 458- 2241x2782
b. Peter. provenzalegsmgov. net
c. Transplanting oftrees throughout the City of Santa Monica.
Mihai Dan- City of Indian Wells Maintenance Supervisor
a. 750- 346- 2489
b. mdan a indianwells. com
c. Supply and installation of large specimen palm trees within the City of Indian Wells.
4. Gus Papagolos- City of Lake Elsinore
a. 951- 674- 3124
h. g_papagolos a,verizon. net
c. Supply and installation of large specimen palm trees.
DocuSign Envelope ID: 9838906A- 0036- 41 F6 -8D00 -2E462682631 D mars
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SUB -CONTRACTORS
B & B Nurseries, Inc. dba The Landscape Center will not be utilizing sub -contractors as part of this agreement.
DocuSign Envelope ID: 9838906A- 0036- 41F6- 8D00- 2E462682631D as
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FEE INFORMATION
Attachment " A"
Cost Proposal Sheet — General Maintenance Services
Please prdvide the fee quotes as follows ( Inclucle a schedule of rates by class#ficabon hourly rates):
In the column labeled " Bidder Notes' mark each maintenance area aeglnnmg with 1 to 11 ( f = most preferred area, 11= least preferred area). Please attach addibonaI pages 4 necessary GENERA! MAINTENANCE SERVICES WAGE RATES
Construction
g
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NommW Business Hours
Rate
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HVAC NIA
Pai NIA
sheet metal NIA
Dry Wall NUA
Roofing NIA
irrigation
Reppair 6500 95. 00 98. 00 16,0. 00 HR N0 1
Material Markup: 25 ° o ( percent)
Norma! Business Hours: 7. 30 a. m. to 5: 30 p. m. ( Monday -- Friday) Emergency and After Hours Service: 5: 30 p. m. to 7: 30 a. m. ( V eekends and Holidays)
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CITY' S CONTRACTOR SERVCES AGREEMENT
B & B Nurseries, Inc. dba The Landscape Center does not take any exception to the City' s Contractor Services Agreement and finds it satisfactory.
DocuSign Envelope ID: 9838906A- 0036- 41 F6 -8D00 -2E462682631 D so
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CONTRACTOR' S LICENSE
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553561 CORP
B 3 B NURSERIES INC DBA THE
LANDSCAPE CENTER
C27 C611D49
01/ 31/ 2023 www cslb ca roe ib
DocuSign Envelope ID: 9838906A - 003B- 41 F6 -8D00 - 2E462682631 D ACoORD® CERTIFICATE OF LIABILITY INSURANCE
DATE ( MM/ DDIYYYY)
10/ 26/ 2022
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS
CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER( S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.
IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy( ies) must have ADDITIONAL INSURED provisions or be endorsed.
If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s).
PRODUCER
Bowermaster & Associates
10805 Holder St
Ste 350
CONTACT
NAME: Denise Lopez
PHONE FAX
A/ C No Ext): 714- 733- 6219 A/C No): 714- 252- 8253
ADDRESS: dlopez@bowermaster. com
Cypress CA INSURER( S) AFFORDING COVERAGE NAIC # 90630
INSURERA: Continental Insurance Company 35289
10/ 31/ 2022
INSURED LANDCEN- 01
B & B Nurseries, Inc. dba: The Landscape Center
9505 Cleveland Avenue
INSURER B : Cypress Ins Co 10855
INSURER C: American Casualty Company CNA Ins Co 20427
Riverside CA 92503 INSURER D :
INSURER E :
INSURER F,
100, 000
X
COVERAGES CERTIFICATE NUMBER: 1155421451 REVISION NUMBER:
THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS
CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
INSR LTR TYPE OF INSURANCE
ADDL
INSD
SUBR
WVD POLICY NUMBER
POLICY EFF
MM/ DDIYYYY
POLICY EXP
MM/ DDIYYYY LIMITS
A X COMMERCIAL GENERAL LIABILITY Y 5095050641 10/ 31/ 2022 10/ 31/ 2023 EACH OCCURRENCE 1, 000,000
CLAIMS - MADE OCCUR
DAMAGE TO
PREM SES ( Ea
100, 000
X Subsidence Ded MED EXP ( Any one person) 15, 000
10, 000 PERSONAL & ADV INJURY 1, 000,000
GEN' L AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE 2, 000,000 POLICY jE LOC PRODUCTS - COMP/ OP AGG 2, 000,000
OTHER:
C AUTOMOBILE LIABILITY 5095717529 10/ 31/ 2022 10/ 31/ 2023 COEaMBINED accident SINGLE LIMIT 1, 000,000
X ANY AUTO BODILY INJURY ( Per person)
OWNED SCHEDULED
AUTOS ONLY AUTOS
BODILY INJURY ( Per accident)
PROPERTY DAMAGE
Per accident X HIREDX NON -OWNED AUTOS ONLY AUTOS ONLY
A X UMBRELLA LIAB OCCUR 7015375418 10/ 31/ 2022 10/ 31/ 2023 EACH OCCURRENCE 4, 000,000
AGGREGATE EXCESS LIAB CLAIMS - MADE
DED RETENTION $
B WORKERS COMPENSATION
AND EMPLOYERS' LIABILITY Y / N
BBWC330279 4/ 1/ 2022 4/ 1/ 2023 X
PER OTHSTATUTE ER
ANYPROPRIETOR/ PARTNER/ EXECUTIVE E. L. EACH ACCIDENT 1, 000,000 OFFICER/ MEMBER EXCLUDED? N/ A
Mandatory in NH) E. L. DISEASE - EA EMPLOYEE 1, 000,000 If yes, describe under
DESCRIPTION OF OPERATIONS below E. L. DISEASE - POLICY LIMIT 1, 000,000 A Pollution Liability 5095050641 10/ 31/ 2022 10/ 31/ 2023 Each Claim 1, 000, 000 Aggregate 2, 000, 000
DESCRIPTION OF OPERATIONS / LOCATIONS I VEHICLES ( ACORD 101, Additional Remarks Schedule, may be attached if more space is required) City of Lake Elsinore, its officers, agents and employees are Additional Insured as respects General Liability per attached endorsement form, Primary and Non -Contributory wording included.
CERTIFICATE HOLDER CANCELLATION
1988- 2015 ACORD CORPORATION. All rights reserved.
ACORD 25 ( 2016/ 03) The ACORD name and logo are registered marks of ACORD
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE
THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN City of Lake Elsinore
ACCORDANCE WITH THE POLICY PROVISIONS.
130 South Main Street
Lake Elsinore CA 92530 AUTHORIZED REPRESENT
USA
1988- 2015 ACORD CORPORATION. All rights reserved.
ACORD 25 ( 2016/ 03) The ACORD name and logo are registered marks of ACORD DocuSign Envelope ID: 9838906A- 0038- 41 F6 -8D00 - 2E462682631 D I
civa
Contractors' General Liability Extension Endorsement
1. ADDITIONAL INSUREDS
WHO IS AN INSURED is amended to include as an Insured any person or organization described in paragraphs A. through H. below whom a Named Insured is required to add as an additional insured on this Coverage Part under a written contract or written agreement, provided such contract or agreement:
1) is currently in effect or becomes effective during the term of this Coverage Part; and 2) was executed prior to:
a) the bodily injury or property damage; or
b) the offense that caused the personal and advertising injury, for which such additional insured seeks coverage.
b. However, subject always to the terms and conditions of this policy, including the limits of insurance, the Insurer will not provide such additional insured with:
1) a higher limit of insurance than required by such contract or agreement; or 2) coverage broader than required by such contract or agreement, and in no event broader than that described by the applicable paragraph A. through H. below.
Any coverage granted by this endorsement shall apply only to the extent permissible by law.
A. Controlling Interest
Any person or organization with a controlling interest in a Named Insured, but only with respect to such person or organization' s liability for bodily injury, property damage or personal and advertising injury arising out of:
1. such person or organization' s financial control of a Named Insured; or
2. premises such person or organization owns, maintains or controls while a Named Insured leases or occupies such premises;
provided that the coverage granted by this paragraph does not apply to structural alterations, new construction or demolition operations performed by, on behalf of, or for such additional insured.
B. Co- owner of Insured Premises
A co- owner of a premises co -owned by a Named Insured and covered under this insurance but only with respect to such co -owner' s liability for bodily injury, property damage or personal and advertising injury as co- owner of such premises.
C. Lessor of Equipment
Any person or organization from whom a Named Insured leases equipment, but only with respect to liability for bodily injury, property damage or personal and advertising injury caused, in whole or in part, by the Named Insured' s maintenance, operation or use of such equipment, provided that the occurrence giving rise to such bodily injury, property damage or the offense giving rise to such personal and advertising injury takes place prior to the termination of such lease.
D. Lessor of Land
Any person or organization from whom a Named Insured leases land but only with respect to liability for bodily injury, property damage or personal and advertising injury arising out of the ownership, maintenance or use of such land, provided that the occurrence giving rise to such bodily injury, property damage or the offense giving rise to such personal and advertising injury takes place prior to the termination of such lease. The coverage granted by this paragraph does not apply to structural alterations, new construction or demolition operations performed by, on behalf of, or for such additional insured.
CNA74705XX ( 1- 15)
Policy No: 5095050641
Endorsement No: 1
Insured Name: B& B Nurseries, Inc. DBA: The Landscape Center Copyright CNA All Rights Reserved. Includes copyrighted material of Insurance Services Office, Inc., with its permission.
DocuSign Envelope ID: 9838906A - 00313- 4l F6- 8D00- 2E462682631D cera
Contractors' General Liability Extension Endorsement
E. Lessor of Premises
An owner or lessor of premises leased to the Named Insured, or such owner or lessor' s real estate manager, but only with respect to liability for bodily injury, property damage or personal and advertising injury arising out of the ownership, maintenance or use of such part of the premises leased to the Named Insured, and provided that the occurrence giving rise to such bodily injury or property damage, or the offense giving rise to such personal and advertising injury, takes place prior to the termination of such lease. The coverage granted by this paragraph does not apply to structural alterations, new construction or demolition operations performed by, on behalf of, or for such additional insured.
F. Mortgagee, Assignee or Receiver
A mortgagee, assignee or receiver of premises but only with respect to such mortgagee, assignee or receiver' s liability for bodily injury, property damage or personal and advertising injury arising out of the Named Insured' s ownership, maintenance, or use of a premises by a Named Insured.
The coverage granted by this paragraph does not apply to structural alterations, new construction or demolition operations performed by, on behalf of, or for such additional insured.
G. State or Governmental Agency or Subdivision or Political Subdivisions — Permits A state or governmental agency or subdivision or political subdivision that has issued a permit or authorization but only with respect to such state or governmental agency or subdivision or political subdivision' s liability for bodily injury, property damage or personal and advertising injury arising out of:
1. the following hazards in connection with premises a Named Insured owns, rents, or controls and to which this insurance applies:
a. the existence, maintenance, repair, construction, erection, or removal of advertising signs, awnings, canopies, cellar entrances, coal holes, driveways, manholes, marquees, hoistaway openings, sidewalk vaults, street banners, or decorations and similar exposures; or b. the construction, erection, or removal of elevators; or c. the ownership, maintenance or use of any elevators covered by this insurance; or
2. the permitted or authorized operations performed by a Named Insured or on a Named Insured' s behalf.
The coverage granted by this paragraph does not apply to:
a. Bodily injury, property damage or personal and advertising injury arising out of operations performed for the state or governmental agency or subdivision or political subdivision; or b. Bodily injury or property damage included within the products -completed operations hazard.
With respect to this provision' s requirement that additional insured status must be requested under a written contract or agreement, the Insurer will treat as a written contract any governmental permit that requires the Named Insured to add the governmental entity as an additional insured.
H. Trade Show Event Lessor
1. With respect to a Named Insured' s participation in a trade show event as an exhibitor, presenter or displayer, any person or organization whom the Named Insured is required to include as an additional insured, but only with respect to such person or organization' s liability for bodily injury, property damage or personal and advertising injury caused by:
a. the Named Insured' s acts or omissions; or
b. the acts or omissions of those acting on the Named Insured' s behalf, CNA74705XX ( 1- 15)
Policy No: 5095050641
Endorsement No: 1
Insured Name: B& S Nurseries, Inc. DBA: The Landscape Center Copyright CNA All Rights Reserved. Includes copyrighted material of Insurance Services Office, Inc., with its permission.
DocuSign Envelope ID: 9838906A- 0038- 41 F6 -8D00 - 2E462682631 D cera
Contractors' General Liability Extension Endorsement
in the performance of the Named Insured' s ongoing operations at the trade show event premises during the trade show event.
2. The coverage granted by this paragraph does not apply to bodily injury or property damage included within the products - completed operations hazard.
2. ADDITIONAL INSURED - PRIMARY AND NON- CONTRIBUTORY TO ADDITIONAL INSURED' S INSURANCE The Other Insurance Condition in the COMMERCIAL GENERAL LIABILITY CONDITIONS Section is amended to add the following paragraph:
If the Named Insured has agreed in writing in a contract or agreement that this insurance is primary and noncontributory relative to an additional insured' s own insurance, then this insurance is primary, and the Insurer will not seek contribution from that other insurance. For the purpose of this Provision 2., the additional insured' s own insurance means insurance on which the additional insured is a named insured. Otherwise, and notwithstanding anything to the contrary elsewhere in this Condition, the insurance provided to such person or organization is excess of any other insurance available to such person or organization.
3. BODILY INJURY — EXPANDED DEFINITION
Under DEFINITIONS, the definition of bodily injury is deleted and replaced by the following:
Bodily injury means physical injury, sickness or disease sustained by a person, including death, humiliation, shock, mental anguish or mental injury sustained by that person at any time which results as a consequence of the physical injury, sickness or disease.
4. BROAD KNOWLEDGE OF OCCURRENCE/ NOTICE OF OCCURRENCE
Under CONDITIONS, the condition entitled Duties in The Event of Occurrence, Offense, Claim or Suit is amended to add the following provisions:
A. BROAD KNOWLEDGE OF OCCURRENCE
The Named Insured must give the Insurer or the Insurer' s authorized representative notice of an occurrence, offense or claim only when the occurrence, offense or claim is known to a natural person Named Insured, to a partner, executive officer, manager or member of a Named Insured, or an employee designated by any of the above to give such notice.
B. NOTICE OF OCCURRENCE
The Named Insured' s rights under this Coverage Part will not be prejudiced if the Named Insured fails to give the Insurer notice of an occurrence, offense or claim and that failure is solely due to the Named Insured' s reasonable belief that the bodily injury or property damage is not covered under this Coverage Part. However, the Named Insured shall give written notice of such occurrence, offense or claim to the Insurer as soon as the Named Insured is aware that this insurance may apply to such occurrence, offense or claim.
5. BROAD NAMED INSURED
WHO IS AN INSURED is amended to delete its Paragraph 3. in its entirety and replace it with the following:
3. Pursuant to the limitations described in Paragraph 4. below, any organization in which a Named Insured has management control:
a. on the effective date of this Coverage Part; or
b. by reason of a Named Insured creating or acquiring the organization during the policy period, qualifies as a Named Insured, provided that there is no other similar liability insurance, whether primary, contributory, excess, contingent or otherwise, which provides coverage to such organization, or which would have provided coverage but for the exhaustion of its limit, and without regard to whether its coverage is broader or narrower than that provided by this insurance.
CNA74705XX ( 1 - 15)
Policy No: 5095050641
Endorsement No: 1
Insured Name: B& B Nurseries, Inc. DBA; The Landscape Center Copyright CNA All Rights Reserved. Includes copyrighted material of Insurance Services Office, Inc., with its permission.
DocuSign Envelope ID: 9838906A- 0038- 41 F6 -8D00 - 2E462682631 D CNA
Contractors' General Liability Extension Endorsement
d) explosion,
B. The following paragraph is added to LIMITS OF INSURANCE:
Subject to 5. above, $ 100, 000 is the most the Insurer will pay under Coverage A for the sum of damages arising out of any one occurrence because of property damage to your product and your work that is caused by fire, smoke, collapse or explosion and is included within the product -completed operations hazard. This sublimit does not apply to property damage to your work if the damaged work, or the work out of which the damage arises, was performed on the Named Insured' s behalf by a subcontractor.
C. This Broadened Liability Coverage For Damage To Your Product And Your Work Provision does not apply if an endorsement of the same name is attached to this policy.
7. CONTRACTUAL LIABILITY — RAILROADS
With respect to operations performed within 50 feet of railroad property, the definition of insured contract is replaced by the following:
Insured Contract means:
a. A contract for a lease of premises. However, that portion of the contract for a lease of premises that indemnifies any person or organization for damage by fire to premises while rented to a Named Insured or temporarily occupied by a Named Insured with permission of the owner is not an insured contract; b. A sidetrack agreement;
c. Any easement or license agreement;
d. An obligation, as required by ordinance, to indemnify a municipality, except in connection with work for a municipality;
e. An elevator maintenance agreement;
f. That part of any other contract or agreement pertaining to the Named Insured' s business ( including an indemnification of a municipality in connection with work performed for a municipality) under which the Named Insured assumes the tort liability of another party to pay for bodily injury or property damage to a third person or organization, Tort liability means a liability that would be imposed by law in the absence of any contract or agreement.
Paragraph f. does not include that part of any contract or agreement:
1) That indemnifies an architect, engineer or surveyor for injury or damage arising out of:
a) Preparing, approving or failing to prepare or approve maps, shop drawings, opinions, reports, surveys, field orders, change orders or drawings and specifications; or b) Giving directions or instructions, or failing to give them, if that is the primary cause of the injury or damage;
2) Under which the Insured, if an architect, engineer or surveyor, assumes liability for an injury or damage arising out of the insured' s rendering or failure to render professional services, including those listed in 1) above and supervisory, inspection, architectural or engineering activities.
8. ELECTRONIC DATA LIABILITY
A. Under COVERAGES, Coverage A — Bodily Injury and Property Damage Liability, the paragraph entitled Exclusions is amended to delete exclusion p. Electronic Data and replace it with the following:
This insurance does not apply to:
p. Access Or Disclosure Of Confidential Or Personal Information And Data -related Liability Damages arising out of:
CNA74705XX ( 1- 15)
Policy No: 5095050641
Endorsement No: 1
Insured Name: B& B Nurseries, Inc. DBA: The Landscape Center Copyright CNA All Rights Reserved. Includes copyrighted material of Insurance Services office, Inc., with its permission.
DocuSign Envelope ID: 9838906A- 0038- 41 F6- 8D00- 2E462682631D CHA
Contractors' General Liability Extension Endorsement
10. EXPECTED OR INTENDED INJURY — EXCEPTION FOR REASONABLE FORCE Under COVERAGES, Coverage A — Bodily Injury and Property Damage Liability, the paragraph entitled Exclusions is amended to delete the exclusion entitled Expected or Intended Injury and replace it with the following:
This insurance does not apply to:
Expected or Intended Injury
Bodily injury or property damage expected or intended from the standpoint of the Insured, This exclusion does not apply to bodily injury or property damage resulting from the use of reasonable force to protect persons or property.
11. GENERAL AGGREGATE LIMITS OF INSURANCE - PER PROJECT A. For each construction project away from premises the Named Insured owns or rents, a separate Construction Project General Aggregate Limit, equal to the amount of the General Aggregate Limit shown in the Declarations, is the most the Insurer will pay for the sum of:
1. All damages under Coverage A, except damages because of bodily injury or property damage included in the products - completed operations hazard; and
2. All medical expenses under Coverage C,
that arise from occurrences or accidents which can be attributed solely to ongoing operations at that construction project. Such payments shall not reduce the General Aggregate Limit shown in the Declarations, nor the Construction Project General Aggregate Limit of any other construction project.
B. All:
1. Damages under Coverage B, regardless of the number of locations or construction projects involved;
2. Damages under Coverage A, caused by occurrences which cannot be attributed solely to ongoing operations at a single construction project, except damages because of bodily injury or property damage included in the products -completed operations hazard; and
3. Medical expenses under Coverage C caused by accidents which cannot be attributed solely to ongoing operations at a single construction project,
will reduce the General Aggregate Limit shown in the Declarations.
C. The limits shown in the Declarations for Each Occurrence, for Damage To Premises Rented To You and for Medical Expense continue to apply, but will be subject to either the Construction Project General Aggregate Limit or the General Aggregate Limit shown in the Declarations, depending on whether the occurrence can be attributed solely to ongoing operations at a particular construction project.
D. When coverage for liability arising out of the products - completed operations hazard is provided, any payments for damages because of bodily injury or property damage included in the products -completed operations hazard will reduce the Products - Completed Operations Aggregate Limit shown in the Declarations, regardless of the number of projects involved.
E. If a single construction project away from premises owned by or rented to the Insured has been abandoned and then restarted, or if the authorized contracting parties deviate from plans, blueprints, designs, specifications or timetables, the project will still be deemed to be the same construction project.
F. The provisions of LIMITS OF INSURANCE not otherwise modified by this endorsement shall continue to apply as stipulated.
CNA74705XX ( 1- 15)
Policy No: 5095050641
Endorsement No; 1
Insured Name: B& B Nurseries, Inc. DBA: The Landscape Center Copyright CNA All Rights Reserved. Includes copyrighted material of Insurance Services Office, Inc., with its permission.
DocuSign Envelope ID: 9838906A- 0038- 41 F6- 8D00- 2E462682631D cera
Contractors' General Liability Extension Endorsement
A. Paragraph 1. b. is amended to delete the $ 250 limit shown for the cost of bail bonds and replace it with a 5, 000. limit; and
B. Paragraph 1. d. is amended to delete the limit of $ 250 shown for daily loss of earnings and replace it with a 1, 000, limit.
24. UNINTENTIONAL FAILURE TO DISCLOSE HAZARDS
If the Named Insured unintentionally fails to disclose all existing hazards at the inception date of the Named Insured' s Coverage Part, the Insurer will not deny coverage under this Coverage Part because of such failure.
25. WAIVER OF SUBROGATION - BLANKET
Under CONDITIONS, the condition entitled Transfer Of Rights Of Recovery Against Others To Us is amended to add the following:
The Insurer waives any right of recovery the Insurer may have against any person or organization because of payments the Insurer makes for injury or damage arising out of:
1. the Named Insured' s ongoing operations; or
2. your work included in the products - completed operations hazard.
However, this waiver applies only when the Named Insured has agreed in writing to waive such rights of recovery in a written contract or written agreement, and only if such contract or agreement:
1, is in effect or becomes effective during the term of this Coverage Part; and
2. was executed prior to the bodily injury, property damage or personal and advertising injury giving rise to the claim.
26. WRAP- UP EXTENSION: OCIP, CCIP, OR CONSOLIDATED ( WRAP- UP) INSURANCE PROGRAMS Note: The following provision does not apply to any public construction project in the state of Oklahoma, nor to any construction project in the state of Alaska, that is not permitted to be insured under a consolidated ( wrapup) insurance program by applicable state statute or regulation.
If the endorsement EXCLUSION — CONSTRUCTION WRAP- UP is attached to this policy, or another exclusionary endorsement pertaining to Owner Controlled Insurance Programs ( O. C. I. P.) or Contractor Controlled Insurance Programs ( C. C. I. P.) is attached, then the following changes apply:
A. The following wording is added to the above -referenced endorsement:
With respect to a consolidated ( wrap-up) insurance program project in which the Named Insured is or was involved, this exclusion does not apply to those sums the Named Insured become legally obligated to pay as damages because of:
1. Bodily injury, property damage, or personal or advertising injury that occurs during the Named Insured' s ongoing operations at the project, or during such operations of anyone acting on the Named Insured' s behalf; nor
2. Bodily injury or property damage included within the products -completed operations hazard that arises out of those portions of the project that are not residential structures.
B. Condition 4. Other Insurance is amend to add the following subparagraph 4. b.( 1)( c):
This insurance is excess over:
c) Any of the other insurance whether primary, excess, contingent or any other basis that is insurance available to the Named Insured as a result of the Named Insured being a participant in a consolidated wrap-up) insurance program, but only as respects the Named Insured' s involvement in that consolidated ( wrap- up) insurance program.
GNA74705XX ( 1- 15)
Policy No: 5095050641
Endorsement No: 1
Insured Name: B& B Nurseries, Inc. DBA: The Landscape Center Copyright CNA All Rights Reserved. Includes copyrighted material of Insurance Services Office, Inc., with its permission.
DocuSign Envelope ID: 9838906A- 0036- 41 F6 -8D00 - 2E462682631 D cera
Contractors' General Liability Extension Endorsement
C. DEFINITIONS is amended to add the following definitions:
Consolidated ( wrap-up) insurance program means a construction, erection or demolition project for which the prime contractor/ project manager or owner of the construction project has secured general liability insurance covering some or all of the contractors or subcontractors involved in the project, such as an Owner Controlled Insurance Program ( O. C. I. P.) or Contractor Controlled Insurance Program ( C. C. I. P.).
Residential structure means any structure where 30% or more of the square foot area is used or is intended to be used for human residency, including but not limited to:
1. single or multifamily housing, apartments, condominiums, townhouses, co- operatives or planned unit developments; and
2. the common areas and structures appurtenant to the structures in paragraph 1. ( including pools, hot tubs, detached garages, guest houses or any similar structures).
However, when there is no individual ownership of units, residential structure does not include military housing, college/ university housing or dormitories, long term care facilities, hotels or motels. Residential structure also does not include hospitals or prisons.
This WRAP- UP EXTENSION: OCIP, CCIP, OR CONSOLIDATED ( WRAP- UP) INSURANCE PROGRAMS Provision does not apply to any person or organization who otherwise qualifies as an additional insured on this Coverage Part.
All other terms and conditions of the Policy remain unchanged.
This endorsement, which forms a part of and is for attachment to the Policy issued by the designated Insurers, takes effect on the effective date of said Policy at the hour stated in said Policy, unless another effective date is shown below, and expires concurrently with said Policy.
CNA74705XX ( 1 - 15)
Policy No: 5095050641
Endorsement No: 1
Insured Name: B& B Nurseries, Inc. DBA: The Landscape Center Copyright CNA All Rights Reserved. Includes copyrighted material of Insurance Services Office, Inc., with its permission.
DocuSign Envelope ID: 9838906A - 003B- 41 F6 -8D00 - 2E462682631 D
BUSINESS LICENSE
This business license is issued for revenue purposes only and does not grant authorization to operate a business. This business license is issued without verification that the holder is subject to or exempted from licensing by the state, county, federal government, or any other governmental agency.
Business Name: THE LANDSCAPE CENTER
Business Location: 9505 CLEVELAND AVE
RIVERSIDE, CA 92503- 6241
Owner Name(s): MARK BARRETT
THE LANDSCAPE CENTER
9505 CLEVELAND AVE
RIVERSIDE, CA 92503- 6241
CITY OF LAKE ELSINORE
Administrative Services - Licensing
130 South Main Street, Lake Elsinore, CA 92530
PH ( 951) 674- 3124
BUSINESS LICENSE NO. 020086
Business Type: LANDSCAPING CONTRACTOR
Description: LANDSCAPING CONTRACTOR
Issue Date: 5/ 1/ 2022 Expiration Date: 4/ 30/ 2023
Starting January 1, 2021, Assembly Bill 1607 requires the prevention of gender- based discrimination of business establishments. A full notice is available in English or other languages by going to: https:// www. dca. ca.gov/ publications/ TO BE POSTED IN A CONSPICUOUS PLACE THIS IS YOUR LICENSE • NOT TRANSFERABLE AMENDMENT NO. 1
TO AGREEMENT FOR CONTRACTOR SERVICES
Pursuit Electric
ON-CALL SERVICES
This Amendment No. 1 to Agreement for On-Call Services is made and entered into as of 1/9/2024, by and between the City of Lake Elsinore, a municipal corporation (“City), Pursuit Electric, a (“Contractor”).
RECITALS
A. The City and Contractor have entered into that certain Agreement for on call services dated as of 1/24/2023, (the “Original Agreement”). Except as otherwise defined herein, all capitalized terms used herein shall have the meanings set forth for such terms in the Original Agreement.
B. The Original Agreement provided for compensation to Contractor in an amount of two hundred and fifty thousand dollars and no cents ($250,000.00).
C. The Original Agreement had a term of one year with three one-year renewal options, commencing on 1/24/2023 and ending on 6/30/2024.
D. The parties now desire to amend the agreement and increase the payment for such services as set forth in this Amendment No 1.
NOW, THEREFORE, in consideration of the mutual covenants and conditions set forth herein, City and Contractor agree as follows:
1. Section 3, Compensation, of the Original Agreement is hereby amended to read in its entirety as follows:
Notwithstanding the foregoing, for purposes of Amendment No. 1 and the term thereof, compensation to be paid to Contractor shall be in accordance with the Schedule of Charges set forth in Contractor’s Proposal (referenced collectively as Exhibit A-1 Amendment No. 1). In no event shall Contractor’s compensation related to Exhibit A-1 to Amendment No. 1 exceed seventy fifty thousand dollars and no cents ($75,000.00) without additional written authorization from the City Council. Annual compensation during each renewal term, if any, shall not exceed three hundred twentyfive thousand Dollars ($325,000.00).
Notwithstanding any provision of Contractor’s Proposal to the contrary, out of pocket expenses set forth in Exhibit A-1 respectively, shall be reimbursed at cost without an inflator or administrative charge. Payment by City under this Agreement shall not be deemed a waiver of defects, even if such defects were known to the City at the time of payment.
2. Except for the changes specifically set forth herein, all other terms and conditions of the Original Agreement shall remain in full force and effect.
IN WITNESS WHEREOF, the parties have caused this Amendment No. 1 to be executed on the respective dates set forth below.
“CITY”
CITY OF LAKE ELSINORE, a municipal
corporation
“CONTRACTOR”
Pursuit Electric
City Manager
Date:
Jed Miller, Owner
Date: __
ATTEST:
City Clerk
APPROVED AS TO FORM:
City Attorney
Assistant City Manager
Attachments: Exhibit A-1 – Contractor’s Proposal
EXHIBIT A-1
CONTRACTOR’S PROPOSAL
[ATTACHED]
Attachment “A-1”
PURSUIT ELECTRIC
Cost Proposal Sheet – General Maintenance Services
Please provide the fee quotes as follows (Include a schedule of rates by classification hourly rates):
In the column labeled “Bidder Notes” mark each maintenance area beginning with 1 to 11 (1=most preferred area, 11= least preferred area). Please attach additional pages if necessary.
GENERAL MAINTENANCE SERVICES WAGE RATES
Constructi
on &
Maintenan
ce Area
*Normal Business
Hours Rate
**Emergency and
After Hours Rate
Unit of
Meas
ure
(Hourl
y,
½ Hour
Etc…)
Subcontrac
tor Services
Yes / No
Bidder Notes
(Attached if Needed)
Non-Pre
vai ling
Wage
Rate
Prevailing
Wage Rate
Non-Pre
vai ling
Wage
Rate
Prevaili
ng
Wage
Rate
Carpe
ntry
Finish Wood
Working
Plumbing
Electrical 91.00 107.00 120.00 145.00 Hourly No 1
Concrete
and
Masonry
HVAC
Painting
Sheet Metal
Dry Wall
Roofing
Irrigation
Repair
Material Markup: _____20_______ % (percent)
*Normal Business Hours: 7:30 a.m. to 5:30 p.m. (Monday – Friday) **Emergency and After Hours Service: 5:30 p.m. to 7:30 a.m. (Weekends and Holidays)
AGREEMENT FOR CONTRACTOR SERVICES
Pursuit Electric LLC
ON-CALL SERVICES
This Agreement for Contractor Services (On-Call) (the "Agreement") is made and entered into as of January 24, 2023 by and between the City of Lake Elsinore, a municipal corporation (the "City") and Pursuit Electric LLC, a Limited Liability Corporation (the "Contractor").
RECITALS
A. The City has determined that it requires the following services:
On-call minor construction and repir services
B. The City has prepared a request for a proposals and Contractor has submitted to City a proposal, dated September 8, 2022, both of which are attached hereto as Exhibit A ( collectively, the Contractor's Proposal") and incorporated herein, to provide services and related work to the City pursuant to the terms of this Agreement.
C. Contractor possesses the skill, experience, ability, background, certification and knowledge to perform the services and related work described in this Agreement on the terms and conditions Agreement.
AGREEMENT
1. Scope of Services. Contractor shall perform the services and related work described in Contractor's Proposal (Exhibit A). Contractor shall provide such services and related work at the time, place, and in the manner specified in Contractor's Proposal (Exhibit A), subject to the direction of the City through its staff that it may provide from time to time. Contractor acknowledges that the Scope of Services provides for 24 hour-a-day, 7 day-a-week, on-call and minor construction support on an as needed basis.
2. Time of Performance.
a. Time of Essence. Time is of the essence in the performance of this Agreement. The time for completion of the services and related work to be performed by Contractor is an essential condition of this Agreement. Contractor shall prosecute regularly and diligently the services and related work contemplated pursuant to this Agreement consistent with Contractor's Proposal ( Exhibit A) and shall provide, furnish and pay all labor, materials, necessary tools, expendable equipment, and all taxes, utility and transportation services required to performsuch the services and related work.
b. Performance Schedule. Contractor shall commence the services and related work pursuant to this Agreement upon receipt of a written notice to proceed and shall perform all services and related work within the time period(s) established in the Contractor's Proposal (Exhibit A). When requested by Contractor, extensions to the time period(s) specified may be approved in writing by the City Manager.
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C c. Term and Compliance with Task/ Work Order System. Unless earlier terminated as provided elsewhere in this Agreement, this Agreement shall continue in full force and effect for a period commencing on January 24, 2023 and ending June 30, 2023. The City may, at its sole discretion, extend the term of this Agreement on a 12-month basis not to exceed 3 additional twelve ( 12) month renewal terms by giving written notice thereof to Contractor not less than thirty 30) days before the end of the contract term, such notice to be exercised by the City Manager.
Contractor hereby agrees and acknowledges that any and all work or services performed pursuant to this Agreement shall be based upon the issuance of a Task/ Work Order by the City. Contractor acknowledges that it is not guaranteed any minimum or specific amount of work or services as all work or services shall be authorized through a Task/Work Order issued by the City.
3. Compensation. Compensation to be paid to Contractor shall be in accordance with the fees set forth in Contractor' s Proposal ( Exhibit A), which is attached hereto and incorporated herein by reference. In no event shall Contractor' s annual compensation exceed two hundred fifty thousand dollars and no cents ($ 250,000.00) without additional written authorization from the City.
Notwithstanding any provision of Contractor' s Proposal to the contrary, out of pocket expenses set forth in Exhibit A shall be reimbursed at cost without an inflator or administrative charge. Payment by City under this Agreement shall not be deemed a waiver of defects, even if such defects were known to the City at the time of payment.
4. Method of Payment. Contractor shall promptly submit billings to the City describing the services and related work performed during the preceding month to the extent that such services and related work were performed. Contractor' s bills shall be segregated by project task, if applicable, such that the City receives a separate accounting for work done on each individual task for which Contractor provides services. Contractor' s bills shall include a brief description of the services performed, the date the services were performed, the number of hours spent and by whom, and a description of any reimbursable expenditures. City shall pay Contractor no later than forty-five ( 45) days after receipt of the monthly invoice by City staff.
5. Background Checks. At any time during the term of this Agreement, the City reserves the right to make an independent investigation into the background of Contractor' s personnel who perform work required by this Agreement, including but not limited to their references, character, address history, past employment, education, social security number validation, and criminal or police records, for the purpose of confirming that such personnel are lawfully employed, qualified to provide the subject service or pose a risk to the safety of persons or property in and around the vicinity of where the services will be rendered or City Hall. If the City makes a reasonable determination that any of Contractor' s prospective or then current personnel is deemed objectionable, then the City may notify Contractor of the same.
Contractor shall not use that personnel to perform work required by this Agreement, and if necessary, shall replace him or her with a suitable worker.
6. Suspension or Termination.
a. The City may at any time, for any reason, with or without cause, suspend or terminate this Agreement, or any portion hereof, by serving upon the Contractor at least ten ( 10) days prior written notice. Upon receipt of such notice, the Contractor shall immediately cease all work under this Agreement, unless the notice provides otherwise. If the City suspends or terminates a portion of this Agreement, such suspension or termination shall not make void or invalidate the remainder of this Agreement.
b. In the event this Agreement is terminated pursuant to this Section, the City shall pay to Contractor the actual value of the work performed up to the time of termination, provided that the work performed is of value to the City. Upon termination of the Agreement pursuant to this
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C Section, the Contractor will submit an invoice to the City, pursuant to Section entitled " Method of Payment" herein.
7. Plans, Reports, Documents
a. Ownership of Documents. All plans, studies, documents and other writings prepared by and for Contractor, its officers, employees and agents and subcontractors in the course of implementing this Agreement, except working notepad internal documents, shall become the property of the City upon payment to Contractor for such work, and the City shall have the sole right to use such materials in its discretion without further compensation to Contractor or to any other party. Contractor shall, at Contractor' s expense, provide such reports, plans, studies, documents and other writings to City upon written request. City shall have sole determination of the public' s rights to documents under the Public Records Act, and any third-party requests of Contractor shall be immediately referred to City, without any other actions by Contractor. b. Licensing of Intellectual Property. This Agreement creates a nonexclusive and perpetual license for City to copy, use, modify, reuse, or sublicense any and all copyrights, designs, and other intellectual property embodied in plans, specifications, studies, drawings, estimates, and other documents or works of authorship fixed in any tangible medium of expression, including but not limited to, physical drawings or data magnetically or otherwise recorded on computer diskettes, which are prepared or caused to be prepared by Contractor under this Agreement (" Documents & Data"). Contractor shall require that all subcontractors agree in writing that City is granted a nonexclusive and perpetual license for any Documents & Data the subcontractor prepares under this Agreement. Contractor represents and warrants that Contractor has the legal right to license any and all Documents & Data. Contractor makes no such representation and warranty in regard to Documents & Data, which were prepared by design professionals other than Contractor or provided, to Contractor by the City. City shall not be limited in any way in its use of the Documents & Data at any time, provided that any such use not within the purposes intended by this Agreement shall be at City's sole risk. c. Confidentiality. All ideas, memoranda, specifications, plans, procedures, drawings, descriptions, computer program data, input record data, written information, and other Documents & Data either created by or provided to Contractor inconnection with the performance of this Agreement shall be held confidential by Contractor. Contractor shall not, without the prior written consent of City, use such materials for any purposes other than the performance of the services under this Agreement. Nor shall such materials be disclosed to any person or entity not connected with the performance of the services under this Agreement. Nothing furnished to Contractor, which is otherwise known to Contractor or is generally known, or has become known, to the related industry shall be deemed confidential. Contractor shall not use City's name or insignia, photographs relating to project for which Contractor' s services are rendered, or any publicity pertaining to the Contractor' s services under this Agreement in any magazine, trade paper, newspaper, television or radio production or other similar medium without the prior written consent of City.
8. Contractor' s Books and Records.
a. Contractor shall maintain any and all ledgers, books of account, invoices, vouchers, canceled checks, and other records or documents evidencing or relating to charges for services, or expenditures and disbursements charged to City for a minimum period of three ( 3) years, or for any longer period required by law, from the date of final payment to Contractor to this Agreement.
b. Contractor shall maintain all documents and records which demonstrate performance under this Agreement for a minimum period of three ( 3) years, or for any longer period
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C required by law, from the date of termination or completion of this Agreement. c. Any records or documents required to be maintained pursuant to this Agreement shall be made available for inspection or audit, at any time during regular business hours, upon written request by the City Manager, City Attorney, City Auditor or a designated representative of these officers. Copies of such documents shall be provided to the City for inspection at City Hall when it is practical to do so. Otherwise, unless an alternative is mutually agreed upon, the records shall be available at Contractor' s address indicated for receipt of notices in this Agreement. d. Where City has reason to believe that such records or documents may be lost or discarded due to dissolution, disbandment or termination of Contractor' s business, City may, by written request by any of the above-named officers, require that custody of the records be given to the City and that the records and documents be maintained in City Hall. Access to such records and documents shall be granted to any party authorized by Contractor, Contractor' s representatives, or Contractor' s successor- in-interest.
9. Indepe ndent Contractor.
a. Contractor is and shall at all times remain as to the City a wholly independent contractor pursuant to California Labor Code Section 3353. The personnel performing the services under this Agreement on behalf of Contractor shall at all times be under Contractor' s exclusive direction and control. Neither City nor any of its officers, employees, or agents shall have control over the conduct of Contractor or any of Contractor' s officers, employees, or agents, except as set forth in this Agreement. Contractor shall not at any time or in any manner represent that it or any of its officers, employees, or agents are in any manner officers, employees, or agents of the City.
Contractor shall not incur or have the power to incur any debt, obligation, or liability whatsoever against City, or bind City in any manner.
b. Notwithstanding any other federal, state and local laws, codes, ordinances and regulations to the contrary, Contractor and any of its employees, agents, and subcontractors providing service under this Agreement shall not qualify for or become entitled to, and hereby agree to waive any claims to, any compensation, benefit, or any incident of employment by City, including but not limited to eligibility to enroll in PERS as an employee of City and entitlement to any contribution to be paid by City for employer contribution and/or employee contributions for PERS benefits.
10. PERS Eligibility Indemnification. In the event that Contractor or any employee, agent, or subcontractor of Contractor providing services under this Agreement claims or is determined by a court of competent jurisdiction or the California Public Employees Retirement System ( PERS) to be eligible for enrollment in PERS as an employee of the City, Contractor shall indemnify, defend, and hold harmless City for the payment of any employee and/or employer contributions for PERS benefits on behalf of Contractor or its employees, agents, or subcontractors, as well as for the payment of any penalties and interest on such contributions. which would otherwise be the responsibility of City.
11. Interests of Contractor. Contractor ( including principals, associates and management employees) covenants and represents that it does not now have any investment or interest in real property and shall not acquire any interest, direct or indirect, in the area covered by this Agreement or any other source of income, interest in real property or investment which would be affected in any manner or degree by the performance of Contractor' s services hereunder. Contractor further covenants and represents that in the performance of its duties hereunder no person having any such interest shall perform any services under this Agreement.
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C Contractor is not a designated employee within the meaning of the Political Reform Act because Contractor:
a. will conduct research and arrive at conclusions with respect to his/her rendition of information, advice, recommendation or counsel independent of the control and direction of the City or of any City official, other than normal agreement monitoring; and b. possesses no authority with respect to any City decision beyond rendition of information, advice, recommendation or counsel. ( FPPC Reg. 18700( a) (2).)
12. Ability of Contractor. City has relied upon the training and ability of Contractor to perform the services hereunder as a material inducement to enter into this Agreement. Contractor shall therefore provide properly skilled personnel to perform all services under this Agreement. All work performed by Contractor under this Agreement shall be in accordance with applicable legal requirements and shall meet the standard of quality ordinarily to be expected of competent contractors in Contractor' s field of expertise.
13. Compliance with Laws.
a. Contractor shall comply with all local, state and federal laws and regulations applicable to the services required hereunder, including any rule, regulation or bylaw governing the conduct or performance of Contractor and/or its employees, officers, or board members. b. Contractor represents that it has obtained and will maintain at all times during the term of this Agreement all professional and/or business licenses, certifications and/or permits necessary for performing the services described in this Agreement, including a City business license.
14. Licenses. Contractor represents and warrants to City that it has the licenses, permits, qualifications, insurance and approvals of whatsoever nature, which are legally required of Contractor to practice its profession. Contractor represents and warrants to City that Contractor shall, at its sole cost and expense, keep in effect or obtain at all times during the term of this Agreement, any licenses, permits, insurance and approvals which are legally required of Contractor to practice its profession.
Contractor shall maintain a City of Lake Elsinore business license.
15. Indemnity. Contractor shall indemnify, defend, and hold harmless the City and its officials, officers, employees, agents, and volunteers from and against any and all losses, liability, claims, suits, actions, damages, and causes of action arising out of any personal injury, bodily injury, loss of life, or damage to property, or any violation of any federal, state, or municipal law or ordinance, to the extent caused, in whole or in part, by the willful misconduct or negligent acts or omissions of Contractor or its employees, subcontractors, or agents, by acts for which they could be held strictly liable, or by the quality or character of their work. The foregoing obligation of Contractor shall not apply when ( 1) the injury, loss of life, damage to property, or violation of law arises from the sole negligence or willful misconduct of the City or its officers. employees. agents. or volunteers and ( 2) the actions of Contractor or its employees, subcontractor, or agents have contributed in no part to the injury, loss of life, damage to property, or violation of law. It is understood that the duty of Contractor to indemnify and hold harmless includes the duty to defend as set forth in Section 2778 of the California Civil Code. Acceptance by City of insurance certificates and endorsements required under this Agreement does not relieve Contractor from liability under this indemnification and hold harmless clause. This indemnification and hold harmless clause shall apply toany damages or claims for damages whether or not such insurance policies shall have been determined to apply. By execution of this Agreement, Contractor acknowledges and agrees to the provisions of this Section and that it is a material element of consideration.
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C
16. Insurance Requirements .
a. Insurance. Contractor, at Contractor' s own cost and expense, shall procure and maintain, for the duration of the contract, unless modified by the City' s Risk Manager, the following insurance policies.
i. Workers' Compensation Coverage. Contractor shall maintain Workers' Compensation Insurance and Employer' s Liability Insurance for his/her employees in accordance with the laws of the State of California. In addition, Contractor shall require each subcontractor to similarly maintain Workers' Compensation Insurance and Employer' s Liability Insurance in accordance with the laws ofthe State of California for all of the subcontractor' s employees. Any notice of cancellation or non-renewal of all Workers' Compensation policies must be received by the City at least thirty 30) days prior to such change. The insurer shall agree to waive all rights of subrogation against City, its officers, agents, employees and volunteers for losses arising from work performed by Contractor for City. In the event that Contractor is exempt from Worker' s Compensation Insurance and Employer' s Liability Insurance for his/her employees in accordance with the laws of the State of California, Contractor shall submit to the City a Certificate of Exemption from Workers Compensation Insurance in a form approved by the City Attorney.
ii. General Liability Coverage. Contractor shall maintain commercial general liability insurance in an amount not less than one million dollars ($ 1,000,000) per occurrence for bodily injury, personal injury and property damage. If a commercial general liability insurance form or other form with a general aggregate limit is used, either the general aggregate limit shall apply separately to the work to be performed under this Agreement or the general aggregate limit shall be at least twice the required occurrence limit. Required commercial general liability coverage shall be at least as broad as Insurance Services Office Commercial General Liability occurrence form CG 0001 ( ed. 11/88) or Insurance Services Office form number GL 0002 ( ed. 1/73) covering comprehensive General Liability and Insurance Services Office form number GL 0404 covering Broad Form Comprehensive General Liability. No endorsement may be attached limiting the coverage.
iii. Automobile Liability Coverage. Contractor shall maintain automobile liability insurance covering bodily injury and property damage for all activities of the Contractor arising out of or in connection with the work to be performed under this Agreement, including coverage for owned, hired and non- owned vehicles, in an amount of not less than one million dollars 1,000,000) combined single limit for each occurrence. Automobile liability coverage must be at least as broad as Insurance Services Office Automobile Liability form CA 0001 ( ed. 12/90) Code 1 any auto"). No endorsement may be attached limiting the coverage. b. Endorsements. Each general liability and automobile liability insurance policy shall be with insurers possessing a Best' s rating of no less than A:VII and shall be endorsed with the following specific language :
i. Notwithstanding any inconsistent statement in any required insurance policies or any subsequent endorsements attached thereto, the protection offered by all policies, except for Workers' Compensat ion, shall bear an endorsement whereby it is provided that, the City and its officers, employees, servants, volunteers and agents and independent contractors, including without limitation, the City Manager and City Attorney, are named as additional insureds. Additional insureds shall be entitled to the full benefit of all insurance policies in the same manner and to the same extent as any other insureds and there shall be no limitation to the benefits conferred upon them other than policy limits to coverages.
ii. This policy shall be considered primary insurance as respects the City,
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C its elected or appointed officers, officials, employees, agents and volunteers. Any insurance maintained by the City, including any self-insured retention the City may have, shall be considered excess insurance only and shall not contribute with it. iii. This insurance shall act for each insured and additional insured as though a separate policy had been written for each, except with respect to the limits of liability of the insuring company.
iv. The insurer waives all rights of subrogation against the City, its elected or appointed officers, officials, employees or agents.
v. Any failure to comply with reporting provisions of the policies shall not affect coverage provided to the City, its elected or appointed officers, officials, employees, agents or volunteers.
vi. The insurance provided by this Policy shall not be suspended, voided, canceled, or reduced in coverage or in limits except after thirty ( 30) days written notice has been received by the City.
c. Deductibles and Self-Insured Retentions. Any deductibles or self-insured retentions must be declared to and approved by the City. At the City' s option, Contractor shall demonstrate financial capability for payment of such deductibles or self-insured retentions. d. Certificates of Insurance. Contractor shall provide certificates of insurance with original endorsements to City as evidence of the insurance coverage required herein. Certificates of such insurance shall be filed with the City on or before commencement of performance of this Agreement. Current certification of insurance shall be kept on file with the City at all times during the term of this Agreement.
17. Notices. Any notice required to be given under this Agreement shall be in writing and either served personally or sent prepaid, first class mail. Any such notice shall be addressed to the other party at the address set forth below. Notice shall be deemed communicated within 48 hours from the time of mailing if mailed as provided in this section.
If to City:
With a copy to:
If to Contractor:
City of Lake Elsinore
Attn: City Manager
130 South Main Street
Lake Elsinore, CA 92530
City of Lake Elsinore
Attn: City Clerk
130 South Main Street
Lake Elsinore, CA 92530
Pursuit Electric LLC
Attn: Jed Miller
151 South Ralph Rd
Lake Elsinore CA 92530
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C
18. Assignment and Subcontracting. The parties recognize that a substantial inducement to City for entering into this Agreement is the reputation, experience and competence of Contractor.
Contractor shall be fully responsible to City for all acts or omissions of any subcontractors.
Assignments of any or all rights, duties or obligations of the Contractor under this Agreement will be permitted only with the express consent of the City. Contractor shall not subcontract any portion of the work to be performed under this Agreement without the written authorization of the City. If City consents to such subcontract, Contractor shall be fully responsible to City for all acts or omissions ofthose subcontractors. Nothing in this Agreement shall create any contractual relationship between City and any subcontractor nor shall it create any obligation on the part of the City to pay or to see to the payment of any monies due to any such subcontractor other than as otherwise is required by law.
19. Waiver. Waiver of a breach or default under this Agreement shall not constitute a continuing waiver of a subsequent breach of the same or any other provision under this Agreement.
20. Litigation Expenses and Attorneys' Fees. If either party to this Agreement commences any legal action against the other party arising out of this Agreement, the prevailing party shall be entitled to recover its reasonable litigation expenses, including court costs, expert witness fees, discovery expenses, and attorneys' fees.
21. Mediation. The parties agree to make a good faith attempt to resolve any disputes arising out of this Agreement through mediation prior to commencing litigation. The parties shall mutually agree upon the mediator and share the costs of mediation equally. If the parties are unable to agree upon a mediator, the dispute shall be submitted to JAMS or its successor in interest. JAMS shall provide the parties with the names of five qualified mediators. Each party shall have the option to strike two of the five mediators selected by JAMS and thereafter the mediator remaining shall hear the dispute. If the dispute remains unresolved after mediation, either party may commence litigation.
22. Prohibited Interests. Contractor maintains and warrants that it has not employed nor retained any company or person, other than a bona fide employee working solely for Contractor, to solicit or secure this Agreement. Further, Contractor warrants that it has not paid nor has it agreed to pay any company or person, other than a bona fide employee working solely for Contractor, any fee, commission, percentage, brokerage fee, gift or other consideration contingent upon or resulting from the award or making ofthis Agreement. For breach or violation of this warranty, City shall have the right to rescind this Agreement without liability. For the term of this Agreement, no member, officer or employee of City, during the term of his or her service with City, shall have any direct interest in this Agreement, or obtain any present or anticipated material benefit arising therefrom.
23. Equal Opportunity Employment. Contractor represents that it is an equal opportunity employer and it shall not discriminate against any subcontractor, employee or applicant for employment because of race, religion, color, national origin, handicap, ancestry, sex or age. Such non-discrimination shall include, but not be limited to, all activities related to initial employment, upgrading, demotion, transfer, recruitment or recruitment advertising, layoff or termination.
24. Prevailing Wages. Contractor is aware of the requirements of California Labor Code Section 1720, et seq., and 1770, et seq., as well as California Code of Regulations, Title 8, Section 16000, et seq., (" Prevailing Wage Laws"), which require the payment of prevailing wage rates and the performance of other requirements on " public works" and " maintenance" projects. Contractor agrees to fully comply with all applicable federal and state labor laws ( including, without limitation, if applicable, the Prevailing Wage Laws). It is agreed by the parties that, in connection with the work or services provided pursuant to this Agreement, Contractor shall bear all risks of payment or nonpayment of prevailing wages under California law, and Contractor hereby agrees to defend,
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C indemnify, and hold the City, and its officials, officers, employees, agents, and volunteers, free and harmless from any claim or liability arising out of any failure or alleged failure to comply with the Prevailing Wage Laws. The foregoing indemnity shall survive termination of this Agreement.
25. Severability. If any term or portion of this Agreement is held to be invalid, illegal, or otherwise unenforceable by a court of competent jurisdiction, the remaining provisions of this Agreement shall continue in full force and effect.
26. Controlling Law Venue. This Agreement and all matters relating to it shall be governed by the laws of the State of California and any action brought relating to this Agreement shall be held exclusively in a state court in the County of Riverside.
27. Authority to Enter Agreement. Contractor has all requisite power and authority to conduct its business and to execute, deliver, and perform the Agreement. Each party warrants that the individuals who have signed this Agreement have the legal power, right, and authority to make this Agreement and to bind each respective party. The City Manager is authorized to enter into an amendment or otherwisetake action on behalf of the City to make the following modifications to the Agreement: ( a) a name change; ( b) grant extensions of time; (c) non-monetary changes in the scope of services; and/ or (d) suspend or terminate the Agreement.
28. Counterparts. This Agreement may be executed in several counterparts, each of which shall constitute one and the same instrument and shall become binding upon the parties when at least one copy hereof shall have been signed by both parties hereto. In approving this Agreement, it shall not be necessary to produce or account for more than one such counterpart.
29. Entire Agreement: Incorporation: Conflict. This Agreement contains the entire understanding between the parties relating to the obligations described herein. All prior or contemporaneous understandings, agreements, representations and statements, oral or written, are superseded in total by this Agreement and shall be of no further force or effect. Contractor' s Proposal is incorporated only for the description of the scope of services and/or the schedule of performance and no other terms and conditions from such proposal shall apply to this Agreement unless specifically agreed to in writing. In the event of conflict, this Agreement shall take precedence over those contained in the Contractor' s Proposal.
30. Amendments. This Agreement may be modified or amended only by a written document executed by both Contractor and City and approved as to form by the City Attorney.
IN WITNESS WHEREOF, the parties have caused this Agreement to be executed on the date first written above.
CITY"
CITY OF LAKE ELSINORE, a municipal
corporation
CONTRACTOR"
Pursuit Electric LLC, a Limitied Liability
Corporation
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C City Manager
ATTEST:
City Clerk
APPROVED AS TO FORM:
City Attorney
Assistant City Manager
Attachments: Exhibit A - Contractor's Proposal
By: Jed Miller
Its: Owner
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C fu,
November 9,2022
City of Lake Elsinore
Attention: Jason Simpson
1 30 South Main Street
Lake Elsinore, Ca 92530
Subject: Proposal for On-Call Electrical Services
Mr. Simpson,
Pursuit Electric lnc. is a licensed electrical contractor that has been doing work for the City of Lake Elsinore for the past year. We specialize in all aspects of the electrical trade from commercial T.l.'s, new construction, maintenance, troubleshoot and service work.
Our hourly rate for electrical work is $ 85/hour and mark up on material is 20%, which includes a 1 year warranty on all workmanship and material defects. Pursuit Electric lnc. has been involved with the City of Lake Elsinore, including the new Launch Pointe campground, The Bobber, Diamond Stadium's warm up building, as well as various other troubleshooling and repair projects. lt has been an honor to work for the city that I grew up in and I hope to continue to serve Lake Elsinore for years to come.
Sincerely,
Jed Miller
Pursuit Electric lnc.
1831 Mccormack Ln, Placenlia, Ca 92870
951 ) 609-5675 ied @ PursuitElectriclnc. com
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C 02/09/2023
Baccarella Insurance Services, Inc.
3610 Central Ave. Suite #200
Riverside CA 92506-
877)687-6987
Continental Casualty Company
Pursuit Electric, Inc.
1831 McCormack Lane
Placentia CA 92870-
20443
Angelica Jensen
Angelica@bacins. com
877)373-5608
X
X
X
C6983356340A 10/14/2022 10/14/2023 1,000,000
100,000
5,000
1,000,000
2,000,000
2,000,000
Prod Comp Ops
EXEMPT
RE:. The Cirty of Lake Elsinore its officers and employees are hereby added as additional insured's as their interest may appear per the attached blanket AI form#NXGL 189 0511 with primary and waiver coverage included.
AI 015021
130 South Main Street
Lake Elsinore CA 92530-
City of Lake Elsinore
ANY PROPRIETOR/ PARTNER/ EXECUTIVE
OFFICER/ MEMBER EXCLUDED?
INSR ADDL SUBR
LTR INSD WVD
DATE ( MM/DD/YYYY)
PRODUCER CONTACT
NAME:
FAXPHONE
A/C, No, Ext): A/C, No):(
E-MAIL
ADDRESS:
INSURER A :
INSURED INSURER B :
INSURER C :
INSURER D :
INSURER E :
INSURER F :
POLICY NUMBER EXPTYPEPOLICY EFF POLICY
OF INSURANCE MM/ DD/ YYYY)( MM/ DD/YYYY) LIMITS(
AUTOMOBILE LIABILITY
UMBRELLA LIAB
EXCESS LIAB
WORKERS COMPENSATION
AND EMPLOYERS' LIABILITY
DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES ( ACORD 101, Additional Remarks Schedule, may be attached if more space is required)
AUTHORIZED REPRESENTATIVE
EACH OCCURRENCE $
DAMAGE TO RENTED
CLAIMS- MADE OCCUR $ PREMISES ( Ea occurrence)
MED EXP ( Any one person)$
PERSONAL & ADV INJURY $
GEN' L AGGREGATE LIMIT APPLIES PER: GENERAL AGGREGATE $ PROPOLICY LOC PRODUCTS - COMP/ OP AGG $ JECT
OTHER:$
COMBINED SINGLE LIMIT $(
Ea accident)
ANY AUTO BODILY INJURY ( Per person)$
OWNED SCHEDULED BODILY INJURY ( Per accident)$
AUTOS ONLY AUTOS
HIRED NON- OWNED PROPERTY DAMAGE $
AUTOS ONLY AUTOS ONLY ( Per accident)
OCCUR EACH OCCURRENCE $
CLAIMS- MADE AGGREGATE $
DED RETENTION $$
PER OTHSTATUTE ER
E.L. EACH ACCIDENT $
E.L. DISEASE - EA EMPLOYEE $
If yes, describe under
DESCRIPTION OF OPERATIONS below E.L. DISEASE - POLICY LIMIT $ INSURER( S) AFFORDING COVERAGE NAIC #
COMMERCIAL GENERAL LIABILITY
Y / N
N / A
Mandatory in NH)
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE
THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS.
THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS
CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS
CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER(S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.
IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy(ies) must have ADDITIONAL INSURED provisions or be endorsed.
If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement(s).
COVERAGES CERTIFICATE NUMBER: REVISION NUMBER:
CERTIFICATE HOLDER CANCELLATION
1988-2015 ACORD CORPORATION. All rights reserved.
ACORDACORD 25 (2016/ 03) The ACORD name and logo are registered marks of
CERTIFICATE OF LIABILITY INSURANCE
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C
SHOULD ANY OF THE ABOVE DESCRIBED POLICIES BE CANCELLED BEFORE
THE EXPIRATION DATE THEREOF, NOTICE WILL BE DELIVERED IN ACCORDANCE WITH THE POLICY PROVISIONS.
INSURER( S) AFFORDING COVERAGE
INSURER F :
INSURER E :
INSURER D :
INSURER C :
INSURER B :
INSURER A :
NAIC #
NAME:
CONTACT
A/ C, No):
FAX
E- MAILADDRESS:
PRODUCER
A/ C, No, Ext):
PHONE
INSURED
COVERAGES CERTIFICATE NUMBER: REVISION NUMBER:
IMPORTANT: If the certificate holder is an ADDITIONAL INSURED, the policy( ies) must have ADDITIONAL INSURED provisions or be endorsed.
If SUBROGATION IS WAIVED, subject to the terms and conditions of the policy, certain policies may require an endorsement. A statement on this certificate does not confer rights to the certificate holder in lieu of such endorsement( s).
THIS CERTIFICATE IS ISSUED AS A MATTER OF INFORMATION ONLY AND CONFERS NO RIGHTS UPON THE CERTIFICATE HOLDER. THIS
CERTIFICATE DOES NOT AFFIRMATIVELY OR NEGATIVELY AMEND, EXTEND OR ALTER THE COVERAGE AFFORDED BY THE POLICIES BELOW. THIS CERTIFICATE OF INSURANCE DOES NOT CONSTITUTE A CONTRACT BETWEEN THE ISSUING INSURER( S), AUTHORIZED REPRESENTATIVE OR PRODUCER, AND THE CERTIFICATE HOLDER.
OTHER:
Per accident)
Ea accident)
N / A
SUBR
WVD
ADDL
INSD
THIS IS TO CERTIFY THAT THE POLICIES OF INSURANCE LISTED BELOW HAVE BEEN ISSUED TO THE INSURED NAMED ABOVE FOR THE POLICY PERIOD INDICATED. NOTWITHSTANDING ANY REQUIREMENT, TERM OR CONDITION OF ANY CONTRACT OR OTHER DOCUMENT WITH RESPECT TO WHICH THIS
CERTIFICATE MAY BE ISSUED OR MAY PERTAIN, THE INSURANCE AFFORDED BY THE POLICIES DESCRIBED HEREIN IS SUBJECT TO ALL THE TERMS, EXCLUSIONS AND CONDITIONS OF SUCH POLICIES. LIMITS SHOWN MAY HAVE BEEN REDUCED BY PAID CLAIMS.
PROPERTY DAMAGE
BODILY INJURY ( Per accident)
BODILY INJURY ( Per person)
COMBINED SINGLE LIMIT
AUTOS ONLY
AUTOSAUTOSONLY
NON- OWNED
SCHEDULEDOWNED
ANY AUTO
AUTOMOBILE LIABILITY
Y / N
WORKERS COMPENSATION
AND EMPLOYERS' LIABILITY
OFFICER/ MEMBER EXCLUDED?
Mandatory in NH)
DESCRIPTION OF OPERATIONS below
If yes, describe under
ANY PROPRIETOR/ PARTNER/ EXECUTIVE
E. L. DISEASE - POLICY LIMIT
E. L. DISEASE - EA EMPLOYEE
E. L. EACH ACCIDENT
STATUTEPER EROTHMM/ LIMITS( DD/ YYYY)
POLICY EXP( POLICYEFFPOLICYNUMBERTYPEOFINSURANCELTRINSRMM/ DD/ YYYY) DESCRIPTION OF OPERATIONS / LOCATIONS / VEHICLES ( ACORD 101, Additional Remarks Schedule, may be attached if more space is required)
EXCESS LIAB
UMBRELLA LIAB $ EACH OCCURRENCE
AGGREGATE
OCCUR
CLAIMS- MADE
DED RETENTION $
PRODUCTS - COMP/ OP AGG
GENERAL AGGREGATE
PERSONAL & ADV INJURY
MED EXP ( Any one person)
EACH OCCURRENCE
DAMAGE TO RENTED $
PREMISES ( Ea occurrence)
COMMERCIAL GENERAL LIABILITY
CLAIMS- MADE OCCUR
GEN' L AGGREGATE LIMIT APPLIES PER:
POLICY
PROJECT LOC
CERTIFICATE OF LIABILITY INSURANCE
DATE ( MM/ DD/ YYYY)
CANCELLATION
AUTHORIZED REPRESENTATIVE
ACORD 25 (2016/ 03)
1988- 2015 ACORD CORPORATION. All rights reserved.
CERTIFICATE HOLDER
The ACORD name and logo are registered marks of ACORD
HIRED
AUTOS ONLY
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C CERTIFICATE OF EXEMPTION FROM WORKERS’ COMPENSATION INSURANCE I hereby certify that in the performance of the work for which this Agreement is entered into, I shall not employ any person in any manner so as to become subject to the Worker’s Compensation Laws of the State of California.
Executed on _______________________, at Lake Elsinore, California.
OwnerPursuit Contractor Jed Miller,
Electric Inc.
DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C 2/ 21/ 2023 | 8: 34 AM PST
CITY OF LAKE ELSINORE
TO BE POSTED IN A CONSPICUOUS PLACE
Business Name:
Business Location:
Owner Name(s):
BUSINESS LICENSE NO.
Issue Date: Expiration Date:
BUSINESS LICENSE
THIS IS YOUR LICENSE • NOT TRANSFERABLE
1831 MCCORMACK LN Business Type:
PLACENTIA, CA 92870- 2832
PURSUIT ELECTRIC INC.
1831 MCCORMACK LN
PLACENTIA, CA 92870- 2832
This business license is issuedfor revenue purposes only anddoes not grant authorization to operate a business. This business license is issuedwithout verificationthat the holder is subject to or exempted from licensing by the state, county, federal government, or any other governmental agency.
Administrative Services - Licensing
130 South Main Street, Lake Elsinore, CA 92530
PH (951) 674-3124
PURSUIT ELECTRIC INC.
PURSUIT ELECTRIC INC.
ELECTRICAL CONTRACTOR
026526
2/1/2023 1/31/2024
Starting January 1, 2021, Assembly Bill 1607 requires the prevention of gender- based discrimination of business establishments. A full notice is available in English or other languages by going to: https:// www. dca.ca.gov/publications/ DocuSign Envelope ID: 50F2D299- 9388-48DA-BF93-D0C76233003C
REPORT TO SUCCESSOR AGENCY
To: Honorable Chair and Members of the Successor Agency From: Jason Simpson, Executive Director
Prepared by: Candice Alvarez, MMC, Secretary
Date: January 9, 2024
Subject: Minutes of the Regular Successor Agency Meeting of December 12, 2023 Recommendation
Approve the Minutes.
Attachments
Attachment 1- Draft Minutes
City of Lake Elsinore
City Council Meeting
Minutes – Draft
Natasha Johnson, Mayor
Steve Manos, Mayor Pro Tem
Brian Tisdale, Council Member
Timothy J. Sheridan, Council Member
Robert E. Magee, Council Member
Jason Simpson, City Manager
Meeting Date:
December 12, 2023
Closed Session: 6:00 PM
Public Session: 7:00 PM
Cultural Center
183 N. Main Street
Lake Elsinore, CA 92530
CALL TO ORDER - 6:00 P.M.
The Regular Meeting of the City Council was called to order at 6:01 p.m.
ROLL CALL
Present: 5 - Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Absent: 0 - None
PUBLIC COMMENTS FOR CLOSED SESSION ITEMS
There were no speakers.
CLOSED SESSION
A. CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Gov’t Code Section 54956.8)
Property: APNs: 374-072-012, -014, -015 and -016
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Familia Del Nuevo Nacimiento Under negotiation: Price and terms of payment
B. CONFERENCE WITH REAL PROPERTY NEGOTIATORS
(Gov’t Code Section 54956.8)
Property: APNs: 374-072-013
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Ignacio Munguia Rodriguez and Blanca Delgado
Under negotiation: Price and terms of payment
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 2
RECONVENE/CALL TO ORDER
The Regular Meeting of the City Council reconvened and the Regular Meeting of the Successor Agency was called to order at 7:00 p.m.
PLEDGE OF ALLEGIANCE
Mayor Pro Tem Manos led the Pledge of Allegiance.
MOMENT OF SILENCE
ROLL CALL
Present: 5 - Council/Agency Members Tisdale, Sheridan, and Magee; Mayor Pro Tem/Vice Chair Manos; and Mayor/Chair Johnson
Absent: 0 - None
CLOSED SESSION REPORT
City Attorney Leibold reported that two items were discussed; however, no reportable action was taken.
PRESENTATIONS/CEREMONIALS
1) Recognition of Lakeside High School Physics Class
Recognize Lakeside High School's "The MEG" Team for building a boat out of only cardboard and tape for the Physics "Regatta" project.
Mayor Johnson presented certificates to the students.
2) Dream Extreme Future Leaders
Present Certificates of Recognition to the 2023 Dream Extreme Future Leaders Program Participants.
Mayor Johnson presented certificates to the students.
3) Elsinore Strong Awards
Plaques were presented by each Council Member to Sandra Valles-Metzger, Matt Norkin, Matthew Dobler, and Myles Ross. It was noted that Shaun Brock will also receive a plaque. 4) Grand Marshal Recognition
Drew Jaime presented an award to Mayor Johnson for being the Grand Marshal in the 2022 Canyon Hills Christmas Parade.
5) Storm Ready
Emergency Services Manager Mesa presented an update on being prepared for storms in the coming months.
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 3
PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 1 MINUTE
City Clerk Alvarez noted seven written communications regarding the Lansing warehouse were received, entered into the record, and distributed to the City Council.
Paulie Tehrani was called to speak.
Ace Vallejos was called to speak.
CITY COUNCIL CONSENT CALENDAR
A motion was made by Council Member Tisdale, seconded by Mayor Pro Tem Manos to approve the City Council Consent Calendar. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
6) Minutes of the Regular City Council Meeting of November 14, 2023 Approve the Minutes.
This item was approved on the City Council Consent Calendar. 7) CC Warrant Report Dated October 20, 2023 to November 02, 2023 Receive and File.
This item was approved on the City Council Consent Calendar. 8) CC Warrant Report Dated November 03, 2023 to November 16, 2023 Receive and File.
This item was approved on the City Council Consent Calendar. 9) Second Reading of an Ordinance Authorizing WRCOG to Calculate and Collect Fees Under the Western Riverside County Transportation Uniform Mitigation Fee (TUMF) Program
Adopt by title only and waive further reading of AN ORDINANCE OF THE CITY
COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AMENDING LAKE ELSINORE MUNICIPAL CODE SECTION 16.83.060 TO AUTHORIZE WRCOG TO
CALCULATE AND COLLECT FEES UNDER THE WESTERN RIVERSIDE COUNTY TRANSPORTATION UNIFORM MITIGATION FEE (TUMF) PROGRAM.
This item was approved on the City Council Consent Calendar.
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 4
10) Approve and authorize the City Manager to execute Amendment No. 2 to the Franchise Agreement with CR&R Incorporated, subject to minor modifications as approved by the City Attorney.
Approve and authorize the City Manager to execute Amendment No. 2 to the Franchise Agreement with CR&R Incorporated, subject to minor modifications as approved by the City Attorney.
This item was approved on the City Council Consent Calendar. 11) Parcel Map 37550, Lake Street Storage
Approve Parcel Map 37550 subject to City Engineer’s acceptance as being true and correct, and authorize the City Clerk to sign the map and arrange for the recordation of Parcel Map 37550.
This item was approved on the City Council Consent Calendar. 12) TUMF Fee Credit/Reimbursement Agreement for Transportation Improvements Constructed by Pulte Home Company, LLC for Alberhill Ranch Tract 28214-9 Single Family Residential Project
Approve and authorize the Mayor to execute an Improvement Credit/Reimbursement Agreement with Western Riverside Council of Governments and Pulte Home Company, LLC in such final form as approved by the City Attorney.
This item was approved on the City Council Consent Calendar. 13) Three-year Agreement with Graffiti Tracker for the Uploading, Processing, and Analysis of Graffiti
Approve and authorize the City Manager to execute a Professional Services Agreement in the amount of $11,000.00 annually for three years in an amount not to exceed $33,000.00 based on the volume of photographs taken by the graffiti abatement crews and equipment costs in such final form as approved by the City Attorney.
This item was approved on the City Council Consent Calendar. 14) Acceptance of the Fellowship Grant from Stanford Impact Labs Approve and authorize the City Manager to execute an agreement with Stanford Impact Labs for a fellowship grant in the amount of $50,000 to the City of Lake Elsinore for a project entitled Evidence for Policy Fellowship in such final form as approved by the City Attorney.
This item was approved on the City Council Consent Calendar.
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 5
15) Purchase of One (1) Electric Boom Lift and Two (2) Mobile LED Light Towers Approve and authorize the City Manager to execute a Purchase Order with Quinn for one (1) Electric Boom Lift and two (2) LED Light Towers in an amount not to exceed $117,570.63 in such final form approved by the City Attorney and authorize the City Manager to execute change orders not to exceed a 10% contingency of $11,757.00 for unanticipated costs.
This item was approved on the City Council Consent Calendar. 16) Approval of FY23/24 Rates with the County of Riverside for Maintenance of City Traffic Signals and Safety Lighting
Approve the FY 23/24 rates for the County of Riverside Transportation Department (County) Agreement for Traffic Signal and associated hardware maintenance, emergency call-out services, and inventory of City traffic signal equipment maintained by the County.
This item was approved on the City Council Consent Calendar. 17) Purchase of ClearVu Cochrane's Invisible Wall Fencing System at Serenity Park (CIP Project #Z40005)
Approve and authorize the City Manager to execute a Purchase Order with Cochrane USA in an amount not to exceed $183,696.31 in such final form approved by the City Attorney and authorize the City Manager to execute change orders not to exceed a 10% contingency of $18,369.00 for unanticipated costs.
This item was approved on the City Council Consent Calendar. 18) Agreement with Professional Sports Field Maintenance, Inc. for Bi-weekly Field Maintenance Services at McVicker Park, Swick and Matich Park, Summerly Park, Tuscany Park, Canyon Hills Park, and Christensen Park
Approve and authorize the City Manager to execute the Contractor Services Agreement with Professional Sports Field Maintenance, Inc. for Bi-weekly Field Maintenance Services at McVicker Park, Swick & Matich Park, Summerly Park, Tuscany Park, Canyon Hills Park, and Christensen Park in an amount not to exceed $45,270.00 per Fiscal Year for a term of three (3) years in such final form as approved by the City Attorney and authorize the City Manager to execute change orders not to exceed a 10% contingency of $4,527.00 for unanticipated costs.
This item was approved on the City Council Consent Calendar.
SUCCESSOR AGENCY CONSENT CALENDAR
A motion was made by Agency Member Tisdale, seconded by Vice Chair Manos to approve the Successor Agency Consent Calendar. The motion carried by the following vote:
Aye: 5 Agency Members Tisdale, Sheridan, and Magee; Vice Chair Manos; and Chair Johnson
Nay: 0 None
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 6
19) Minutes of the Regular Successor Agency Meeting of November 14, 2023 Approve the Minutes.
This item was approved on the Successor Agency Consent Calendar. 20) SA Warrant Report Dated October 20, 2023 to November 02, 2023 Receive and File.
This item was approved on the Successor Agency Consent Calendar. 21) SA Warrant Report Dated November 03, 2023 to November 16, 2023 Receive and File.
This item was approved on the Successor Agency Consent Calendar.
PUBLIC HEARINGS
22) Planning Application No. 2022-03 (Mission Trail at Lemon) – a Request for Approval of Tentative Tract Map No. 38378 to Subdivide an approximately 17.21- acre Site into One (1) Lot for Condominium Purposes and Residential Design Review to Construct 191 Detached Condominium Residences within the East Lake Specific Plan
1. Find that the project is exempt from the California Environmental Quality Act (CEQA) pursuant to CEQA Guidelines Section 15182(c) (Residential Projects Implementing Specific Plans);
2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, ADOPTING FINDINGS THAT PLANNING
APPLICATION NO. 2022-03 (TENTATIVE TRACT MAP NO. 38378 AND RESIDENTIAL DESIGN REVIEW NO. 2022-02) IS CONSISTENT WITH THE
WESTERN RIVERSIDE COUNTY MULTIPLE SPECIES HABITAT
CONSERVATION PLAN (MSHCP);
3. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING TENTATIVE TRACT MAP NO. 38378 TO SUBDIVIDE AN APPROXIMATELY 17.21-ACRE SITE INTO ONE LOT AND 191 RESIDENTIAL UNITS FOR CONDOMINIUM PURPOSES LOCATED IN APNS:
370-050-019, 370-050-020, AND 370- 050-032; and
4. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, APPROVING RESIDENTIAL DESIGN REVIEW NO. 2022-02 PROVIDING BUILDING DESIGNS AND RELATED IMPROVEMENTS FOR 191 TWO-STORY DETACHED CONDOMINIUM RESIDENTIAL UNITS IN LOCATED APNS: 370-050-019, 370- 050-020, AND 370-050-032.
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 7
The Public Hearing was re-opened at 7:46 p.m.
Assistant Community Development Director Abraham presented the staff report.
There were no speakers.
The Public Hearing was closed at 8:04 p.m.
A motion was made by Council Member Tisdale, seconded by Council Member Sheridan to approve the four recommendations. The motion carried by the following vote:
Aye: 4 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 1 None
23) Establishment of Community Facilities District No. 2023-2 of the City of Lake Elsinore (Coastal Mission Trails)
1. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, ESTABLISHING COMMUNITY FACILITIES DISTRICT NO. 2023-2 OF THE CITY OF LAKE ELSINORE (COASTAL MISSION TRAILS),
AUTHORIZING THE LEVY OF A SPECIAL TAX THEREIN, CALLING AN
ELECTION AND APPROVING AND AUTHORIZING CERTAIN ACTIONS
RELATED THERETO;
2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2023-2 OF THE CITY OF LAKE
ELSINORE (COASTAL MISSION TRAILS) DETERMINING THE NECESSITY TO
INCUR BONDED INDEBTEDNESS IN AN AMOUNT NOT TO EXCEED
$15,000,000 WITHIN COMMUNITY FACILITIES DISTRICT NO. 2023-2 OF THE
CITY OF LAKE ELSINORE (COASTAL MISSION TRAILS) AND CALLING AN ELECTION THEREIN;
3. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2023-2 OF THE CITY OF
LAKE ELSINORE (COASTAL MISSION TRAILS) CERTIFYING ELECTION RESULTS; and
4. Introduce by title only and waive further reading of AN ORDINANCE OF THE CITY
COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, ACTING IN ITS
CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2023-2 OF THE CITY OF LAKE ELSINORE (COASTAL MISSION TRAILS) AUTHORIZING THE LEVY OF SPECIAL TAXES.
The Public Hearing was reopened at 8:04 p.m.
The Staff Report was waived.
There were no speakers.
The Public Hearing was closed at 8:06 p.m.
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 8
A motion was made by Council Member Tisdale, seconded by Mayor Pro Tem Manos to adopt the Resolution in Recommendation No. 1. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
A motion was made by Council Member Tisdale, seconded by Mayor Pro Tem Manos to adopt the Resolution in Recommendation No. 2. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
A motion was made by Mayor Pro Tem Manos, seconded by Council Member Tisdale to adopt the Resolution in Recommendation No. 3. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
A motion was made by Council Member Tisdale, seconded by Mayor Pro Tem Manos to introduce by title only and waive further reading of the Ordinance in Recommendation No. 4. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
24) Public Hearing and Election for Annexation Proceedings for Annexation No. 14 into Community Facilities District No. 2015-1 (Safety Services)
1. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY
SERVICES), ANNEXING TERRITORY TO COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES), AND CALLING ELECTIONS THEREIN; and
2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF THE CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2015-1 (SAFETY SERVICES) CERTIFYING THE RESULTS OF THE DECEMBER 12, 2023 ANNEXATION AND SPECIAL TAX ELECTIONS.
The Public Hearing was reopened at 8:07 p.m.
The Staff Report was waived.
There were no speakers.
The Public Hearing was closed at 8:11 p.m.
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 9
A motion was made by Council Member Tisdale, seconded by Mayor Pro Tem Manos to adopt the Resolution in Recommendation No. 1. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
A motion was made by Mayor Pro Tem Manos, seconded by Council Member Tisdale to adopt the Resolution in Recommendation No. 2. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
25) Public Hearing and Election for Annexation Proceedings for Annexation No. 19 into Community Facilities District No. 2015-2 (Maintenance Services) for Coastal Mission Trails
1. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, CALLING AN ELECTION TO SUBMIT TO THE
QUALIFIED ELECTORS THE QUESTION OF LEVYING A SPECIAL TAX WITHIN
THE AREA PROPOSED TO BE ANNEXED TO COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 19);
2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, DECLARING ELECTION RESULTS FOR
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 19); and
3. Introduce by title only and waive further reading of AN ORDINANCE OF THE CITY
COUNCIL OF THE CITY OF LAKE ELSINORE, CALIFORNIA, AMENDING ORDINANCE NO. 2016-1359 OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2015-2 OF THE CITY OF
LAKE ELSINORE (MAINTENANCE SERVICES) AUTHORIZING THE LEVY OF SPECIAL TAXES.
The Public Hearing was reopened at 8:11 p.m.
The Staff Report was waived.
There were no speakers.
The Public Hearing was closed at 8:14 p.m.
A motion was made by Council Member Tisdale, seconded by Council Member Magee to adopt the Resolution in Recommendation No. 1. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 10
A motion was made by Council Member Tisdale, seconded by Mayor Pro Tem Manos to adopt the Resolution in Recommendation No. 2. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
A motion was made by Council Member Tisdale, seconded by Council Member Magee to introduce by title only and waive further reading of the Ordinance in Recommendation No. 3. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
26) Public Hearing and Election for Annexation Proceedings for Annexation No. 20 Into Community Facilities District No. 2015-2 (Maintenance Services) for Alberhill
1. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, CALLING AN ELECTION TO SUBMIT TO THE
QUALIFIED ELECTORS THE QUESTION OF LEVYING A SPECIAL TAX WITHIN
THE AREA PROPOSED TO BE ANNEXED TO COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 20);
2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, DECLARING ELECTION RESULTS FOR
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 20); and
3. Introduce by title only and waive further reading of AN ORDINANCE AMENDING ORDINANCE NO. 2016-1359 OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2015-2 OF THE CITY OF
LAKE ELSINORE (MAINTENANCE SERVICES) AUTHORIZING THE LEVY OF SPECIAL TAXES.
The Public Hearing was opened at 8:17 p.m.
The Staff Report was waived.
There were no speakers.
The Public Hearing was closed at 8:18 p.m.
A motion was made by Council Member Tisdale, seconded by Council Member Magee to adopt the Resolution in Recommendation No. 1. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 11
A motion was made by Mayor Pro Tem Manos, seconded by Council Member Tisdale to adopt the Resolution in Recommendation No. 2. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
A motion was made by Mayor Pro Tem Manos, seconded by Council Member Magee to introduce by title only and waive further reading of the Ordinance in Recommendation No. 3. The motion Carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
27) Public Hearing and Election for Annexation Proceedings for Annexation No. 21 Into Community Facilities District No. 2015-2 (Maintenance Services) for Lake Storage
1. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, CALLING AN ELECTION TO SUBMIT TO THE
QUALIFIED ELECTORS THE QUESTION OF LEVYING A SPECIAL TAX WITHIN
THE AREA PROPOSED TO BE ANNEXED TO COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 21);
2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, DECLARING ELECTION RESULTS FOR
COMMUNITY FACILITIES DISTRICT NO. 2015-2 (MAINTENANCE SERVICES) (ANNEXATION NO. 21); and
3. Introduce by title only and waive further reading of AN ORDINANCE AMENDING ORDINANCE NO. 2016-1359 OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, ACTING IN ITS CAPACITY AS THE LEGISLATIVE BODY OF COMMUNITY FACILITIES DISTRICT NO. 2015-2 OF THE CITY OF
LAKE ELSINORE (MAINTENANCE SERVICES) AUTHORIZING THE LEVY OF
SPECIAL TAXES
The Public Hearing was opened at 8:21 p.m.
The Staff Report was waived.
There were no speakers.
The Public Hearing was closed at 8:22 p.m.
A motion was made by Council Member Tisdale, seconded by Mayor Pro Tem Manos to adopt the Resolution in Recommendation No. 1. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 12
A motion was made by Mayor Pro Tem Manos, seconded by Council Member Magee to adopt the Resolution in Recommendation No. 2. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
A motion was made by Mayor Pro Tem Manos, seconded by Council Member Tisdale to introduce by title only and waive further reading of the Ordinance in Recommendation No. 3. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
28) Second and Final Extension of Time request for Conditional Use Permit No. 2018-03 and Commercial Design Review No. 2016-17 (Kassab Travel Center)
1. Find that pursuant to the California Environmental Quality Act (CEQA) Guidelines Section 15162, the extension of time request would not have a significant effect on the environment and no new environmental documentation is necessary because all potentially significant effects have been adequately analyzed in a previously adopted Mitigated Negative Declaration (ER 2018-02) (SCH No. 2019029048);
2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, APPROVING A ONE-YEAR EXTENSION OF TIME FOR CONDITIONAL USE PERMIT NO. 2018-03 TO JULY 14, 2024; and
3. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, APPROVING A ONE-YEAR EXTENSION OF TIME FOR COMMERCIAL DESIGN REVIEW NO. 2016-17 TO JULY 14, 2024.
The Public Hearing was opened at 8:25 p.m.
Assistant Community Development Director Abraham presented the staff report.
There were no speakers.
The Public Hearing was closed at 8:27 p.m.
A motion was made by Mayor Pro Tem Manos, seconded by Council Member Magee to approve staff’s three recommendations. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 13
29) Extension of Time Request for Tentative Parcel Map No. 38341 and Industrial Design Review No. 2021-05 (Fairway Business Park Phase III)
1. Find that pursuant to the California Environmental Quality Act (CEQA) Guidelines Section 15162, the extension of time request would not have a significant effect on the environment and no new environmental documentation is necessary because all potentially significant effects have been adequately analyzed in a previously adopted Addendum No. 1 to Mitigated Negative Declaration (MND) No. 2007-05 (SCH No. 2007071157);
2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, APPROVING A TWO-YEAR EXTENSION OF TIME FOR TENTATIVE PARCEL MAP NO. 38341 TO JANUARY 11, 2026; and
3. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE
ELSINORE, CALIFORNIA, APPROVING A TWO-YEAR EXTENSION OF TIME FOR INDUSTRIAL DESIGN REVIEW NO. 2021-05 TO JANUARY 11, 2026.
The Public Hearing was opened at 8:28 p.m.
Assistant Community Development Director Abraham presented the staff report.
Rod Oshita was called to speak.
The Public Hearing was closed at 8:33 p.m.
A motion was made by Council Member Magee, seconded by Mayor Pro Tem Manos to approve staff’s three recommendations. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
BUSINESS ITEMS
30) Issuance of Its Special Tax Bonds, Series 2024 for Community Facilities District No. 2006-4 (Rosetta Hills)
Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,
CALIFORNIA, ACTING AS THE LEGISLATIVE BODY OF CITY OF LAKE ELSINORE COMMUNITY FACILITIES DISTRICT NO. 2006-4 (ROSETTA HILLS) AUTHORIZING THE ISSUANCE OF ITS SPECIAL TAX BONDS, SERIES 2024 IN A PRINCIPAL AMOUNT NOT TO EXCEED SIX MILLION DOLLARS ($6,000,000) AND
APPROVING CERTAIN DOCUMENTS AND TAKING CERTAIN OTHER ACTIONS IN CONNECTION THEREWITH.
Lawrence Chan presented the staff report.
A motion was made by Council Member Tisdale, seconded by Mayor Pro Tem Manos to adopt the Resolution. The motion carried by the following vote:
Aye: 5 Council Members Tisdale, Sheridan, and Magee; Mayor Pro Tem Manos; and Mayor Johnson
Nay: 0 None
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 14
31) Selection of the Mayor/Chair and Mayor Pro Tem/Vice-Chair for 2024 Select a Mayor/Chair and Mayor Pro Tem/Vice-Chair to serve through December 10, 2024 per City Council Policy No. 200-4.
Mayor Johnson yielded the Chair to City Clerk Alvarez, who called for nominations to the seat of Mayor.
Council Member Johnson nominated Steve Manos.
Steve Manos was unanimously appointed as Mayor.
Mayor Manos called for nominations to the seat of Mayor Pro Tem.
Council Member Magee nominated Brian Tisdale.
Brian Tisdale was unanimously appointed as Mayor Pro Tem.
PUBLIC COMMENTS - NON-AGENDIZED ITEMS - THREE MINUTES
There were no speakers.
CITY ATTORNEY COMMENTS
City Attorney Leibold wished attendees Happy Holidays.
CITY MANAGER'S COMMENTS
City Manager Simpson congratulated and recognized Richard MacHott on his retirement, shared the City of Lake Elsinore 2023 in Review video, and presented Council Member Johnson with a gift from staff to commemorate her year serving as Mayor.
CITY COUNCIL COMMENTS/REPORTS ON MEETINGS ATTENDED
Council Member Sheridan reported on his attendance at the Riverside Transit Agency Transportation Now meeting on November 15, 2023 and Board of Directors meeting on November 16, 2023; shared his attendance at RTA’s Vice Street Mobility Hub ribbon cutting ceremony on December 8, 2023; shared his attendance at Rise and Shine Balloons’ grand opening; invited residents to obtain vaccines on Friday, December 15, 2023 from 12:00 – 4:00 p.m. at the Lake Elsinore Senior Activity Center; announced “Kaz’s Rocking In the New Year Bash 2024” from 8:00 p.m. to 12:30 a.m. at the Diamond Taproom at Diamond Stadium; shared his attendance at the Lake Elsinore Historical Society Christmas Party; invited the community to attend the 6th Annual Dudes of Canyon Hills Christmas Parade on December 13th and 14th from 6:00 p.m. to 8:00 p.m. in Canyon Hills; and invited the community to attend the 2nd Annual Dudes of Canyon Hills and DOCH Foundation Holiday Free Toy Giveaway on Saturday, December 16, 2023 from 10:00 a.m. to 4:00 p.m. at Diamond Stadium.
Council Member Johnson reported on her attendance at the Western Riverside County Regional Conservation Authority meeting on December 4, 2023 and the Lake Elsinore Unified School District meeting; congratulated December’s Students of the Month and the 2023 Dream Extreme Future Leaders; announced that the Cops for Kids delivery will be held on Saturday, December 16, 2023; provided updates on Project Connect, the Homeless Task Force, and the Anchor; shared her experience at the Winterfest event; reported on the City Hall Groundbreaking which was held on December 4, 2023; and introduced Lakey, Lake Elsinore’s Elf on the Shelf and encouraged residents to follow its activities on social media.
City Council Minutes - Draft December 12, 2023
City of Lake Elsinore Page 15
Council Member Magee reminded residents to keep their pets safe during winter; and announced the grand opening celebration for the Animal Friends of the Valleys new low-cost spay/neuter and vaccination clinic on January 25, 2024 from 4:00 – 7:00 p.m. at its facility in Wildomar.
Mayor Pro Tem Tisdale reported on his attendance at the Western Riverside Council of Governments Executive Committee meeting on December 4, 2023 and the Northwest Mosquito and Vector Control District Board meeting on November 16, 2023; invited seniors to register for the Holiday Luncheon on December 14, 2023 at 11:00 a.m. at the Lake Elsinore Senior Activity Center; and invited residents to participate int he Winter Wonderland Canvas Painting event on January 12, 2023 from 6:00 – 8:00 p.m. at the Lake Elsinore Senior Activity Center.
Mayor Manos announced that new shade structures have been installed at Swick and Matich Park and Tuscany Hills Park; encouraged residents to book the Dream Extreme Neighborhood Center for parties and provided information on booking the venue; invited the community to attend the Lake Water Press Conference on December 15, 2023 from 10:00 – 11:30 a.m. at Launch Pointe; encouraged residents to apply to serve on the Measure Z Citizens Committee for Districts 2, 4, and 5 through 4:00 p.m. on December 22, 2023; and provided updates on lake levels and testing.
ADJOURNMENT
The Lake Elsinore City Council adjourned at 9:34 p.m. to the next Regular meeting of Tuesday, January 9, 2024 in the Cultural Center located at 183 N. Main Street. Closed Session will commence at 5:00 p.m. or such later time as noticed on the Agenda, and the regular Open Session business meeting will commence at 7:00 p.m.
REPORT TO THE SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE
CITY OF LAKE ELSINORE
To: Honorable Agency Chair and Members of the Successor Agency From: Jason Simpson, Executive Director
Prepared by: Shannon Buckley, Assistant Executive Director Date: January 9, 2024
Subject: SA Warrant Report Dated November 17, 2023, to December 07, 2023 Recommendation
Receive and File.
Discussion
The Warrant Report lists all general checks issued for the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore for the abovementioned period.
Attachments
Attachment 1 - SA Warrant Summary
Attachment 2 - SA Warrant Listing
NOV 17, 2023 TO DEC 07, 2023 CITY OF LAKE ELSINORE SA WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
510 SARDA AREA I, II, & III $ -
540 SARDA DIAMOND STADIUM 224,923.83
GRAND TOTAL $ 224,923.83
Attachment 1 1 of 1
NOV 17, 2023 TO DEC 07, 2023 CITY OF LAKE ELSINORE SA WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA24001289 STK ARCHITECTURE $ 3,686.94
APA24001336 LAKE ELSINORE STORM 88,829.59
APA24001272 LAKE ELSINORE STORM 96,784.25
APA24001266 GOLDEN STATE CONCESSIONS 615.00
APA24001306 CED LAGUNA 4,444.06
APA24001286 SOUTHERN CALIFORNIA EDISON 171.84
APA24001239 AMBER AIR CONDITIONING 11,132.00
6071 AK SECURITY ALARM 2,272.29
6128 AK SECURITY ALARM 11,887.86
6108 PURSUIT ELECTRIC 5,100.00
GRAND TOTAL $ 224,923.83
Attachment 2 1 OF 1
REPORT TO SUCCESSOR AGENCY OF THE REDEVELOPMENT AGENCY OF THE CITY
OF LAKE ELSINORE
To: Honorable Agency Chair and Members of the Successor Agency From: Jason Simpson, Executive Director
Prepared by: Shannon Buckley, Assistant Executive Director Date: January 9, 2024
Subject: SA Warrant Report Dated December 08, 2023, to December 14, 2023 Recommendation
Receive and File.
Discussion
The Warrant Report lists all general checks issued for the Successors Agency of the Redevelopment Agency of the City of Lake Elsinore for the abovementioned period.
Attachments
Attachment 1 - SA Warrant Summary
Attachment 2 - SA Warrant Listing
DEC 08, 2023 TO DEC 14, 2023 CITY OF LAKE ELSINORE SA WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
510 SARDA AREA I, II, & III $ -
540 SARDA DIAMOND STADIUM 103,319.46
GRAND TOTAL $ 103,319.46
Attachment 1 1 of 1
DEC 08, 2023 TO DEC 14, 2023 CITY OF LAKE ELSINORE SA WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA24001375 CED LAGUNA $ 199.46
6154 ENDRESEN DEVELOPMENT $ 12,500.00
6157 ENDRESEN DEVELOPMENT $ 9,500.00
6160 ENDRESEN DEVELOPMENT $ 33,000.00
6153 ENDRESEN DEVELOPMENT $ 11,900.00
6152 ENDRESEN DEVELOPMENT $ 36,220.00
GRAND TOTAL $ 103,319.46
Attachment 2 1 OF 1
REPORT TO CITY COUNCIL
To: Honorable Chair and Members of the Successor Agency From: Jason Simpson, Executive Director
Prepared by: Shannon Buckley, Assistant Executive Director Date: January 9, 2024
Subject: SA Investment Report for September 2023
Recommendation
Receive and file the Investment Report for September 2023.
Discussion
The Investment Report lists all funds invested in the City of Lake Elsinore. It includes funds held for the Successor Agency of the Redevelopment Agency of the City of Lake Elsinore as of the date shown on the report. Additionally, the Investment Performance Review for the quarter ended September 30, 2023, is included.
Fiscal Impact
No fiscal impact.
Attachments
Attachment 1- Investment Report for September 2023
CITY OF LAKE ELSINORE
INVESTMENT REPORT
C I T Y O F L A K E E L S I N O R E
INVESTMENT REPORT OF POOLED CASH AND INVESTMENTS
AS OF SEPTEMBER 30, 2023
BANK DEPOSITS
IN TRANSIT
OUTSTANDING
PAYMENTS
BOOK
CASH ACCOUNTS
Bank Accounts:
BALANCE BALANCE
General Checking Account $ 948,556 $ 43,155 $ (72,904) $ 918,807 Cash On Hand:
Cashier Drawers #1 & #2
City of Lake Elsinore Petty Cash Fund
-
-
-
-
-
-
300
2,000
Total Cash Accounts 948,556 43,155 (72,904) 921,107
INVESTMENTS
Local Agency Investment Funds 49,450,572 - - 49,450,572 CAMP Investments:
CAMP Pool Account 50,944
21,635,437
1,133,455
1,536,023
5,284,899
4,261,710
11,849,400
900,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
50,944
21,635,437
1,133,455
1,536,023
5,284,899
4,261,710
11,849,400
900,000
U.S. Treasury Bond / Note
Supra-National Agency Bond / Note
Municipal Bond / Note
Federal Agency Commercial Mortgage-Backed Security
Federal Agency Bond / Note
Corporate Note
Certificate of Deposit
Asset-Backed Security 5,290,805 5,290,805
Sub-total Investments 101,393,244 - - 101,393,244
Market Value Adjustment:
Unrealized Gain/(Loss) at 06/30/2023 (2,817,910) - - (2,817,910) Total Investments 98,575,334
99,523,890
- - 98,575,334
Total Pooled Cash and Investments $ $ 43,155 $ (72,904) $ 99,496,441 TOTAL POOLED CASH AND INVESTMENTS $ 99,496,441
I certify that this report accurately reflects all pooled investments and it is in conformity with the investment policy as approved by the City Council on June 28, 2022. A copy of this policy is available in the office of the City Clerk. The pooled investments shown above provide sufficient cash flow liquidity to meet the next six months estimated expenditures.
Jason P. Simpson
City Manager
December 27, 2023
Date
C I T Y O F L A K E E L S I N O R E
POOLED CASH AND INVESTMENTS BY FUND
AS OF SEPTEMBER 30, 2023
FUND NO FUND NAME AMOUNT
100
102
104
105
106
107
108
109
110
112
114
115
116
117
118
119
121
135
140
160
180
202
203
205
211
221
231
232
300
305
310
315
320
331
335
337
339
340
345
346
General $ 11,980,754
16,077,141
7,500
Measure Z
Traffic Offender
Misc. General Project 58,096
Affordable Housing In Lieu
Developer Agreement Revenue
American Rescue Plan
Road Maintenance and Rehabilitation (SB1)
State Gas Tax
649,074
79,145
7,096,598
392,774
424,126
1,227,200
58,189
Measure A
SB1186 CASP Education Program
Traffic Safety 13,373
City Hall-Public Works DIF
Community Center DIF
Lake Side Facility DIF
43,800
189,200
311,120
Animal Shelter DIF 18,044
T.R.I.P.-2014A 503
Lighting & Landscape Maintenance - Dist. No. 1
Geothermal
1,063,218
11,714
PEG Grant 84,155
Launch Pointe 856,223
La Strada RBBD 23,892
E.L.S.P. - S.T.I.F. 3,369,129
206,904
3,073,070
128,545
1,332,634
622,038
760,139
2,547,661
20,041
Traffic Impact Fee
Storm Drain C.I.P.
Quimby Park C.I.P.
Library C.I.P.
City Fire Protection
Insurance Service
Information Systems Service
Support Service
Fleet Service 331,568
2,314,615
3,428
Facilities Service
CFD 2006-1CC Summerly Improvement Area CC
CFD 2003-2E Canyon Hills Improvement Area E
CFD 2016-2 Canyon Hills
CFD 2006-1 IA-KK Summerly Improvement Area
CFD 2006-1 IA-EE Summerly Improvement Area
CFD 2003-2 Improvement Area D, Canyon Hills
CFD 2014-1 Southshore
5,473
4,326
5,555
2,387
17,850
68,094
C I T Y O F L A K E E L S I N O R E
POOLED CASH AND INVESTMENTS BY FUND
AS OF SEPTEMBER 30, 2023
FUND NO FUND NAME AMOUNT
347 3,273
354
361
362
363
364
366
368
369
370
374
375
378
387
388
500
510
603
604
605
606
608
617
620
631
650
655
CFD 2006-1 Improvement Area A, Summerly
CFD 90-2 Tuscany Hills 3,368
11,191
22,339
17,093
29,898
8,095
CFD 2022-2 Lakeshore Improvement
CFD 2006-8S Running Deer Estates Services
CFD 2022-3 Lakeside
CFD 2023-2 Coastal Mission Trail Improvement
CFD 2005-6 City Center Townhomes
CFD 2006-2 Viscaya 18,604
20,899
7,779
CFD 2004-3 Area 1 Rosetta Canyon Improvement Area
CFD 2006-1 IA-HH Summerly Improvement
CFD 2005-4 Lakeview Villas 45
CFD 2006-4 Clurman 2,136
CFD 2006-8 Running Deer Estates
CFD 2007-5 Red Kite
1,416
1,030
CFD 2007-6 Holiday Inn Express
Capital Improvement Plan
361
5,577,244
3,694,895
59,566
33,662
1,714,488
301,550
1,551,919
25,931,764
4,462,191
499,135
29,641
13,567
Successor To RDA Area I, II, & III
Endowment Trust - Carl Graves
Endowment Trust - Korn Memorial
Public Improvement Trust
Mobile Source Air Polution Reduction
Trust Deposit & Pre Paid Expense
Successor Agency Housing
Cost Recovery System
Lake Destratification Equipment Replacement
CFD 2003-1 Law & Fire Service
CFD 2015-1s Law, Fire, Paramedic Services
Total Pooled Cash & Investments $ 99,496,441
C I T Y O F L A K E E L S I N O R E
SUMMARY OF POLICY LIMITATIONS
FOR THE MONTH ENDING SEPTEMBER 30, 2023
MAXIMUM
PERCENTAGE
DIVERSIFICATION
PERCENTAGE
CURRENT
TYPES OF SECURITIES BALANCE
CAMP - Pooled Sweep Account
U.S. Treasury Bond / Note
Unlimited
Unlimited
30%
0.05% $
$
$
$
$
$
$
$
$
$
50,944
21.34%
1.12%
21,635,437
1,133,455
1,536,023
5,284,899
4,261,710
11,849,400
900,000
Supra-National Agency Bond / Note
Municipal Bond / Note Unlimited
40%
1.51%
Federal Agency Collaterized Mortgage Obligation
Federal Agency Bond / Note
5.21%
(1) Unlimited
30%
4.20%
Corporate Note 11.69%
Negotiable Certificates of Deposit 0.89%
Asset-Backed Security / Collaterized Mortgage
LAIF (Local Agency Investment Funds)
30%
20% 5.22% 5,290,805
49,450,572 (2) $150 Million 48.77%
TOTAL 100.00% $ 101,393,244
Note:
(1) No more than 40% in any one federal agency. See CAMP Portfolio Statement for listing of agencies.
Investment in LAIF may not exceed $75 million in each agency. (2) Local Agency Investment Fund
C I T Y O F L A K E E L S I N O R E
LOCAL AGENCY INVESTMENT FUND
TRANSACTION SUMMARY
FOR THE MONTH ENDING SEPTEMBER 30, 2023
Yield Purchase Date
Daily
Maturity Rate
3.534% 24-Hour
Investment Beginning Balance Net Increase/(Decrease) Ending Balance 49,450,572
Total Investments Held with
Local Agency Investment Fund: $ 54,450,572 $ (5,000,000) $ Note:
Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained.
PMIA/LAIF Performance Report
as of 12/20/23
Quarterly Performance
Quarter Ended 09/30/23
PMIA Average Monthly
Effective Yields(1)
(2) LAIF Apportionment Rate : 3.59 November
October
September
August
July
3.843
3.670
3.534
3.434
3.305**
3.167
(2) LAIF Earnings Ratio : 0.00009812538629360
(1)* 0.29
0.986307739
3.48 3.42
256
LAIF Administrative Cost :
(1) LAIF Fair Value Factor :
(1) PMIA Daily :
(1) PMIA Quarter to Date : June
(1) PMIA Average Life :
Pooled Money Investment Account
Monthly Portfolio Composition (1)
11/30/23
$159.4 billion
Corporate
Bonds
0.34%
Commercial
Paper Time
Deposits
3.28%
5.47% Loans
0.20%
Certificates of
Deposit/Bank Notes
8.09%
Treasuries
60.58%
Agencies
22.04%
Chart does not include $2,218,000.00 in mortgages, which equates to 0.001%. Percentages may not total 100% due to rounding.
Daily rates are now available here. View PMIA Daily Rates Notes: The apportionment rate includes interest earned on the CalPERS Supplemental Pension Payment pursuant to Government Code 20825 (c)(1) and interest earned on the Wildfire Fund loan pursuant to Public Utility Code 3288 (a). *The percentage of administrative cost equals the total administrative cost divided by the quarterly interest earnings. The law provides that administrative costs are not to exceed 5% of quarterly EARNINGS of the fund. However, if the 13-week Daily Treasury Bill Rate on the last day of the fiscal year is below 1%, then administrative costs shall not exceed 8% of quarterly EARNINGS of the fund for the subsequent fiscal year. ** Revised
Source:
(1) State of California, Office of the Treasurer
(2) State of Calfiornia, Office of the Controller
CAMP
Investment Portfolio
Account Statement - Transaction Summary
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
CAMP Pool Asset Summary
Opening Market Value
Purchases
Redemptions
Unsettled Trades
Change in Value
50,055.18
2,105,312.85
(2,104,424.08)
0.00 September 30, 2023 August 31, 2023
CAMP Pool 50,943.95 50,055.18
CAMP Managed Account 50,158,301.78 50,366,635.71
0.00 Total $50,209,245.73 $50,416,690.89
Closing Market Value
Cash Dividends and Income
CAMP Managed Account
$50,943.95
Asset Allocation 512.46
CAMP Pool
0.10%
Opening Market Value
Purchases
Redemptions
Unsettled Trades
Change in Value
50,366,635.71
2,097,058.50
(2,036,566.86)
0.00 (268,825.57)
Closing Market Value $50,158,301.78
Cash Dividends and Income 6,891.81
CAMP Managed
Account
99.90%
Managed Account Summary Statement
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Transaction Summary - Money Market
Opening Market Value
Transaction Summary - Managed Account Account Total
$50,055.18 Opening Market Value $50,366,635.71 Opening Market Value $50,416,690.89 Purchases
Redemptions
2,105,312.85
(2,104,424.08)
Maturities/Calls (320,770.96)
(1,715,795.90)
2,097,058.50
0.00 Principal Dispositions
Principal Acquisitions
Unsettled Trades
Change in Current Value (268,825.57)
_______________________________________________ _______________________________________________ ____________________________________________________ Closing Market Value $50,943.95 Closing Market Value $50,158,301.78 Closing Market Value $50,209,245.73 Dividend 512.46
Earnings Reconciliation (Cash Basis) - Managed Account Cash Balance Interest/Dividends/Coupons Received
Less Purchased Interest Related to Interest/Coupons
Plus Net Realized Gains/Losses
68,233.53
(3,143.33)
(58,198.39)
Closing Cash Balance $0.00
Total Cash Basis Earnings $6,891.81
Earnings Reconciliation (Accrual Basis) Managed Account Total Cash Transactions Summary- Managed Account Ending Amortized Value of Securities
Ending Accrued Interest
Plus Proceeds from Sales
Plus Proceeds of Maturities/Calls/Principal Payments
Plus Coupons/Dividends Received
Less Cost of New Purchases
Less Beginning Amortized Value of Securities
Less Beginning Accrued Interest
Dividends
52,095,010.99
274,504.36
1,717,556.60
321,083.46
66,160.33
(2,100,201.83)
(52,088,404.01)
(239,216.32)
0.00 52,145,954.94
274,504.36
3,821,980.68
321,083.46
66,160.33
Maturities/Calls
Sale Proceeds
Coupon/Interest/Dividend Income
Principal Payments
Security Purchases
250,312.50
1,717,556.60
66,160.33
70,770.96
(2,100,201.83)
(4,598.56)
0.00 (4,205,514.68) Net Cash Contribution
(52,138,459.19) Reconciling Transactions
(239,216.32)
512.46
Total Accrual Basis Earnings $46,493.58 $47,006.04
Portfolio Summary and Statistics
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Account Summary Sector Allocation
Description Par Value Market Value Percent
ABS
10.36%
Cert of Deposit
1.79%
Corporate Note
22.35%
U.S. Treasury Bond / Note
Supra-National Agency Bond / Note
Municipal Bond / Note
Federal Agency Commercial
Mortgage-Backed Security
Federal Agency Bond / Note
Corporate Note
Certificate of Deposit
Asset-Backed Security
Managed Account Sub-Total
Accrued Interest
23,000,000.00
1,135,000.00
1,535,000.00
5,394,574.59
21,101,316.27
1,100,616.33
1,443,996.55
5,170,202.36
42.02 2.19
2.88 US TSY Bond / Note
42.02%
10.30 4,275,000.00
11,840,000.00
900,000.00
5,291,520.16
53,371,094.75
4,020,711.38
11,223,246.14
896,305.46
5,201,907.29
50,158,301.78 99.90%
274,504.36
50,432,806.14
50,943.95
50,483,750.09 100.00%
8.01 22.35
1.79 Fed Agy Bond /
Note
8.01%
Federal Agency
Commercial
Mortgage-Backed
Security
10.36 Supra-National
Agency Bond / Note
2.19%
Muni Bond / Note
Total Portfolio 2.88%
CAMP Pool
Total Investments
53,371,094.75
50,943.95
53,422,038.70
0.10 Joint Powers
Authority
0.10%
10.30%
Unsettled Trades 0.00 0.00
Maturity Distribution Characteristics
42.47% Yield to Maturity at Cost 3.18%
5.07%
1050
Yield to Maturity at Market
Weighted Average Days to Maturity
17.37%
15.58%
13.96%
5.45% 5.17%
0.00%
0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years
Managed Account Issuer Summary
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Issuer Summary Credit Quality (S&P Ratings)
Market Value
of Holdings
218,228.40
439,967.80
943,235.36
389,955.60
714,374.08
598,335.43
433,812.75
222,762.75
352,721.63
77,511.50
Issuer
ABBOTT LABORATORIES
AMAZON.COM INC
Percent
0.43 0.88
1.88 0.78
1.42 1.19
0.86 0.44
0.70 0.15
0.10 1.43
0.52 0.40
0.19 0.75
0.80 0.13
0.43 0.74
1.68 4.15
0.92 0.69
0.57 0.25
13.23 0.43
0.68 0.02
0.78 0.33
A
NR
1.96%
BBB+
1.91%
AAAm
0.10%
AAA
13.03%
AA3.60%
3.85%
A+
2.33%
A7.52%
AA
3.68%
AMERICAN EXPRESS CO
AMERICAN HONDA FINANCE
APPLE INC
BANK OF AMERICA CO
BERKSHIRE HATHAWAY INC
BMW FINANCIAL SERVICES NA LLC
BRISTOL-MYERS SQUIBB CO
CALIFORNIA STATE UNIVERSITY
CAMP Pool
CAPITAL ONE FINANCIAL CORP
CARMAX AUTO OWNER TRUST
CATERPILLAR INC
CHAFFEY JOINT UNION HIGH SCHOOL DISTRICT
CHARLES SCHWAB
CHASE ISSURANCE
CINTAS CORPORATION NO. 2
CITIGROUP INC
DEERE & COMPANY
DISCOVER FINANCIAL SERVICES
FANNIE MAE
FEDERAL HOME LOAN BANKS
FIFTH THIRD AUTO TRUST
FLORIDA STATE BOARD OF ADMIN FIN CORP
FORD CREDIT AUTO OWNER TRUST
FREDDIE MAC
GENERAL DYNAMICS CORP
GM FINANCIAL CONSUMER AUTOMOBILE TRUST
GM FINANCIAL LEASINGTRUST
GOLDMAN SACHS GROUP INC
HARLEY-DAVIDSON MOTORCYCLE TRUST
50,943.95
719,555.52
260,928.63
201,453.30
97,269.00
377,529.18
402,783.31
62,855.52
216,226.35
369,412.50
842,855.66
2,085,083.50
462,791.95
348,795.93
288,110.90
127,653.15
6,643,038.29
217,957.95
341,372.56
7,888.92
AA+
62.02%
393,531.60
167,816.98
Managed Account Issuer Summary
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Market Value
of Holdings
24,018.83
Issuer
HOME DEPOT INC
Percent
0.05 0.80
0.20 0.44
1.20 0.99
0.94 0.12
0.26 1.42
0.79 1.42
0.74 0.60
0.61 0.89
0.33 0.79
0.78 0.24
0.40 0.12
0.18 0.07
0.17 1.25
0.77 0.90
1.55 42.04
0.40 0.16
0.43 HONDA AUTO RECEIVABLES
HYUNDAI AUTO RECEIVABLES
IBM CORP
INTER-AMERICAN DEVELOPMENT BANK
INTL BANK OF RECONSTRUCTION AND DEV
JP MORGAN CHASE & CO
LOCKHEED MARTIN CORP
LOS ANGELES COMMUNITY COLLEGE DISTRICT
MICROSOFT CORP
401,425.21
98,184.40
218,854.35
604,366.33
496,250.00
471,173.43
57,955.26
129,381.00
711,781.50
395,024.00
712,200.25
371,020.25
302,487.25
307,163.79
446,455.35
166,415.38
396,635.20
391,038.73
120,195.40
199,210.00
58,493.40
MORGAN STANLEY
NATIONAL AUSTRALIA BANK LTD
NATIONAL RURAL UTILITIES CO FINANCE CORP
NEW YORK ST URBAN DEVELOPMENT CORP
NISSAN AUTO RECEIVABLES
NORDEA BANK ABP
PACCAR FINANCIAL CORP
PNC FINANCIAL SERVICES GROUP
ROCHE HOLDINGS INC
SAN JUAN UNIFIED SCHOOL DISTRICT
STATE OF CALIFORNIA
STATE OF CONNECTICUT
STATE OF MINNESOTA
TARGET CORP
TEXAS INSTRUMENTS INC
THE BANK OF NEW YORK MELLON CORPORATION
THE WALT DISNEY CORPORATION
TORONTO-DOMINION BANK
TOYOTA MOTOR CORP
UNITED STATES TREASURY
UNITEDHEALTH GROUP INC
UNIVERSITY OF CALIFORNIA
USAA CAPITAL CORP
92,045.00
36,091.12
83,239.06
628,378.99
386,226.80
449,850.11
777,545.56
21,101,316.27
202,424.63
79,293.10
216,345.83
Managed Account Issuer Summary
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Total $50,209,245.73 100.00%
Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description S&P Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Value U.S. Treasury Bond / Note
US TREASURY N/B NOTES
DTD 01/31/2022 0.875% 01/31/2024
91282CDV0
912828YY0
912828ZW3
91282CBC4
91282CBC4
91282CBW0
91282CBW0
91282CCP4
91282CCP4
91282CCP4
91282CCP4
91282CCP4
91282CCP4
912828U24
400,000.00 AA+
400,000.00 AA+
150,000.00 AA+
200,000.00 AA+
400,000.00 AA+
75,000.00 AA+
950,000.00 AA+
200,000.00 AA+
250,000.00 AA+
750,000.00 AA+
800,000.00 AA+
900,000.00 AA+
900,000.00 AA+
250,000.00 AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
01/13/23
08/05/20
04/01/21
11/02/21
12/02/21
02/10/22
01/04/22
09/01/22
05/03/22
08/01/22
07/05/22
06/02/22
08/08/22
11/01/22
01/17/23
08/07/20
04/05/21
11/04/21
12/06/21
02/14/22
01/06/22
09/06/22
05/05/22
08/04/22
07/08/22
06/06/22
08/15/22
11/04/22
384,750.00 4.68
427,531.25 0.18
147,093.75 0.72
194,539.06 1.05
387,968.75 1.13
71,458.01 1.92
926,843.75 1.33
179,007.81 3.53
226,250.00 3.03
690,468.75 2.74
732,343.75 2.84
819,035.16 2.94
819,562.50 3.04
228,144.53 4.39
589.67
1,769.02
94.77 395,091.03
407,829.36
148,801.43
197,042.89
393,344.76
72,827.76
394,062.48
382,625.00
137,835.93
180,750.00
361,500.00
67,558.59
US TREASURY NOTES
DTD 12/31/2019 1.750% 12/31/2024
US TREASURY NOTES
DTD 06/30/2020 0.250% 06/30/2025
US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
189.54
379.07
235.39
2,981.66
210.60
263.25
789.74
842.39
947.69
947.69
1,888.59
US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
US TREASURY N/B NOTES
DTD 04/30/2021 0.750% 04/30/2026
US TREASURY N/B NOTES
DTD 04/30/2021 0.750% 04/30/2026
936,150.36
184,757.08
234,135.98
707,752.02
752,859.46
844,777.28
842,481.07
233,059.04
855,742.14
178,000.00
222,500.00
667,500.00
712,000.00
801,000.00
801,000.00
229,921.88
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description S&P Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Value U.S. Treasury Bond / Note
US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
912828U24
912828U24
912828U24
91282CEN7
91282CFB2
91282CFB2
91282CFB2
91282CFB2
975,000.00 AA+
2,100,000.00 AA+
9,500,000.00 AA+
1,200,000.00 AA+
375,000.00 AA+
600,000.00 AA+
800,000.00 AA+
825,000.00 AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
01/04/23
12/05/22
01/13/23
01/31/23
05/01/23
07/03/23
03/02/23
06/02/23
01/06/23
12/07/22
01/17/23
02/03/23
05/05/23
07/07/23
03/06/23
06/06/23
907,092.77 3.96
1,954,066.41 3.92
8,922,578.13 3.72
1,155,421.88 3.70
362,329.10 3.62
565,640.63 4.30
746,531.25 4.44
786,779.30 3.97
7,365.49
15,864.13
71,766.30
13,809.78
1,737.43
2,779.89
3,706.52
3,822.35
920,009.12
1,984,287.54
9,028,727.93
1,162,337.68
363,548.72
567,630.47
753,480.86
789,729.05
896,695.31
1,931,343.75
8,737,031.25
1,122,187.44
349,335.94
558,937.50
745,250.00
768,539.06
US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
US TREASURY N/B NOTES
DTD 04/30/2022 2.750% 04/30/2027
US TREASURY N/B NOTES
DTD 07/31/2022 2.750% 07/31/2027
US TREASURY N/B NOTES
DTD 07/31/2022 2.750% 07/31/2027
US TREASURY N/B NOTES
DTD 07/31/2022 2.750% 07/31/2027
US TREASURY N/B NOTES
DTD 07/31/2022 2.750% 07/31/2027
Security Type Sub-Total 23,000,000.00 21,635,436.54 3.44 132,980.96 21,920,660.89 21,101,316.27 Supra-National Agency Bond / Note
INTL BK RECON & DEVELOP NOTES
DTD 11/24/2020 0.250% 11/24/2023
459058JM6
4581X0DZ8
500,000.00 AAA
635,000.00 AAA
Aaa
Aaa
11/17/20
09/15/21
11/24/20
09/23/21
498,925.00 0.32
634,530.10 0.52
440.97
70.56 499,946.99
634,846.51
496,250.00
INTER-AMERICAN DEVEL BK NOTES 604,366.33
DTD 09/23/2021 0.500% 09/23/2024
Security Type Sub-Total
Municipal Bond / Note
1,135,000.00 1,133,455.10 0.43 511.53 1,134,793.50 1,100,616.33 CT ST TXBL GO BONDS 20772KJW0 60,000.00 AA- Aa3 05/29/20 06/11/20 60,000.00 2.00 299.70 60,000.00 58,493.40 DTD 06/11/2020 1.998% 07/01/2024
Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description S&P Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Value Municipal Bond / Note
CHAFFEY UHSD, CA TXBL GO BONDS
DTD 12/05/2019 2.101% 08/01/2024
157411TK5
650036DT0
91412HGE7
341271AD6
341271AD6
341271AD6
60412AVJ9
798306WP7
54438CYK2
13077DQD7
13063D3N6
100,000.00 AA325,000.00 NR
85,000.00 AA
65,000.00 AA
85,000.00 AA
160,000.00 AA
100,000.00 AAA
130,000.00 NR
140,000.00 AA+
85,000.00 AA200,000.00 AAAa1
NR
11/06/19
12/16/20
07/10/20
09/03/20
09/03/20
09/03/20
08/11/20
10/16/20
10/30/20
07/09/21
03/09/23
12/05/19
12/23/20
07/16/20
09/16/20
09/16/20
09/16/20
08/25/20
10/29/20
11/10/20
07/29/21
03/15/23
100,000.00 2.10
325,000.00 0.87
85,000.00 0.88
65,459.55 1.11
85,563.55 1.12
160,000.00 1.26
100,000.00 0.63
130,000.00 0.85
140,000.00 0.77
85,000.00 0.86
200,000.00 4.85
350.17
125.67
283.54
204.42
267.32
503.20
105.00
184.60
180.37
305.29
807.67
100,000.00
325,000.00
85,000.00
65,167.90
85,205.89
160,000.00
100,000.00
130,000.00
140,000.00
85,000.00
200,000.00
97,269.00
302,487.25
79,293.10
60,410.35
78,998.15
148,702.40
92,045.00
120,195.40
129,381.00
77,511.50
199,210.00
NY ST URBAN DEV CORP TXBL REV BONDS
DTD 12/23/2020 0.870% 03/15/2025
UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
Aa2
Aa3
Aa3
Aa3
Aaa
Aa2
Aaa
Aa2
Aa2
FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
MN ST TXBL GO BONDS
DTD 08/25/2020 0.630% 08/01/2025
SAN JUAN USD, CA TXBL GO BONDS
DTD 10/29/2020 0.852% 08/01/2025
LOS ANGELES CCD, CA TXBL GO BONDS
DTD 11/10/2020 0.773% 08/01/2025
CA ST UNIV TXBL REV BONDS
DTD 07/29/2021 0.862% 11/01/2025
CA ST MUNICIPAL BONDS
DTD 03/15/2023 4.846% 03/01/2027
Security Type Sub-Total 1,535,000.00 1,536,023.10 1.59 3,616.95 1,535,373.79 1,443,996.55 Federal Agency Commercial Mortgage-Backed Security
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24 250,000.00 AA+
275,000.00 AA+
Aaa
Aaa
03/19/20
04/11/23
03/25/20
04/14/23
262,382.81 1.95
263,613.28 4.37
637.92
629.06
253,088.47
265,562.67
242,336.21
FHMS K054 A2 3137BNGT5 259,884.21
DTD 04/20/2016 2.745% 01/01/2026
Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description S&P Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Value Federal Agency Commercial Mortgage-Backed Security
FHMS K058 A2
DTD 11/09/2016 2.653% 08/01/2026
3137BSP72
3137BTUM1
3137BXQY1
3137F1G44
3137HAD45
3137HACX2
3136BQDE6
3137HAMH6
3137HAMS2
550,000.00 AA+
380,000.00 AA+
550,000.00 AA+
550,000.00 AA+
439,574.59 AA+
550,000.00 AA+
550,000.00 AA+
800,000.00 AA+
500,000.00 AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
04/06/23
05/19/23
08/16/23
06/08/23
07/19/23
07/13/23
07/18/23
09/07/23
09/20/23
04/12/23
05/24/23
08/18/23
06/13/23
07/27/23
07/20/23
07/31/23
09/14/23
09/28/23
526,839.84 4.02
368,303.13 4.31
518,804.69 4.98
527,033.20 4.44
439,563.61 4.78
555,493.40 4.59
540,675.78 4.58
788,165.60 4.99
494,023.50 5.07
1,215.96
1,059.88
1,477.67
1,486.38
1,749.87
2,208.71
1,920.42
3,100.00
2,000.00
530,140.21
369,512.83
519,867.89
528,853.34
439,564.02
555,267.86
540,997.48
788,268.43
494,032.79
511,969.52
359,902.80
516,090.58
515,055.44
431,373.87
539,882.46
525,507.52
777,256.33
490,943.42
FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
FHLMC MULTIFAMILY STRUCTURED P
DTD 07/01/2017 3.243% 04/01/2027
FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
Security Type Sub-Total 5,394,574.59 5,284,898.84 4.52 17,485.87 5,285,155.99 5,170,202.36 Federal Agency Bond / Note
FREDDIE MAC NOTES
DTD 10/16/2020 0.125% 10/16/2023
3137EAEY1
3137EAEZ8
3135G06H1
325,000.00 AA+
350,000.00 AA+
325,000.00 AA+
Aaa
Aaa
Aaa
10/14/20
11/03/20
11/23/20
10/16/20
11/05/20
11/25/20
323,787.75 0.25
349,685.00 0.28
324,629.50 0.29
186.20
352.43
279.86
324,983.39
349,989.65
324,980.75
324,319.45
348,282.55
322,413.98
FREDDIE MAC NOTES
DTD 11/05/2020 0.250% 11/06/2023
FANNIE MAE NOTES
DTD 11/25/2020 0.250% 11/27/2023
Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description S&P Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Value Federal Agency Bond / Note
FREDDIE MAC NOTES
DTD 12/04/2020 0.250% 12/04/2023
3137EAFA2
3130AJHU6
3135G03U5
3137EAEU9
3135G05X7
3130AK5E2
3137EAEX3
3135G06G3
300,000.00 AA+
350,000.00 AA+
350,000.00 AA+
425,000.00 AA+
350,000.00 AA+
150,000.00 AA+
700,000.00 AA+
650,000.00 AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
12/02/20
04/15/20
04/22/20
07/21/20
08/25/20
09/10/20
09/23/20
11/09/20
12/04/20
04/16/20
04/24/20
07/23/20
08/27/20
09/11/20
09/25/20
11/12/20
299,703.00 0.28
348,264.00 0.60
349,279.00 0.67
422,883.50 0.48
348,362.00 0.47
149,550.00 0.44
697,893.00 0.44
647,673.00 0.57
243.75
811.81
966.15
309.90
131.25
42.19 299,982.64
349,466.07
349,775.08
424,235.32
349,376.77
149,825.84
699,164.82
649,018.60
297,312.90
325,665.55
325,922.10
390,072.65
319,979.10
137,126.40
638,355.90
591,260.80
FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025
FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
FEDERAL HOME LOAN BANK NOTES
DTD 09/11/2020 0.375% 09/04/2025
FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
58.33 FANNIE MAE NOTES 1,300.00
DTD 11/12/2020 0.500% 11/07/2025
Security Type Sub-Total
Corporate Note
4,275,000.00 4,261,709.75 0.44 4,681.87 4,270,798.93 4,020,711.38
PNC BANK NA CORP NOTES (CALLABLE)
DTD 01/23/2019 3.500% 01/23/2024
693475AV7
808513BN4
400,000.00 A105,000.00 AA3
A2
02/12/19
03/16/21
02/15/19
03/18/21
402,848.00 3.34
104,947.50 0.77
2,644.44
28.44 400,133.40
104,991.90
396,635.20
CHARLES SCHWAB CORP NOTES 102,519.48
(CALLABLE)
DTD 03/18/2021 0.750% 03/18/2024
BANK OF NY MELLON CORP NOTES
(CALLABLE)
DTD 04/26/2021 0.500% 04/26/2024
06406RAS6
61746BDQ6
210,000.00 A A1
A1
04/19/21
07/19/19
04/26/21
07/23/19
209,775.30 0.54
422,916.00 2.59
452.08 209,957.36
402,775.70
203,806.89
MORGAN STANLEY CORP NOTES 400,000.00 A- 6,544.44 395,024.00 DTD 04/28/2014 3.875% 04/29/2024
Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description S&P Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Value Corporate Note
AMERICAN HONDA FINANCE CORP NOTE
DTD 06/27/2019 2.400% 06/27/2024
02665WCZ2
38141EC23
400,000.00 A- A3
A2
07/11/19
07/08/19
07/15/19
07/11/19
398,016.00 2.51
418,632.00 2.84
2,506.67
3,550.56
399,703.88
402,042.75
389,955.60
GOLDMAN SACHS GROUP INC (CALLABLE) 393,531.60
BONDS
400,000.00 BBB+
DTD 07/08/2014 3.850% 07/08/2024
BMW US CAPITAL LLC CORPORATE NOTES
DTD 08/12/2021 0.750% 08/12/2024
05565EBU8
254687FK7
69371RQ66
70,000.00 A A2
A2
A1
08/09/21
09/03/19
10/22/20
08/12/21
09/06/19
10/29/20
69,993.70 0.75
398,368.00 1.84
182,894.25 0.73
71.46 602.78
481.25
69,998.18
399,700.50
177,498.24
67,029.20
386,226.80
166,415.38
WALT DISNEY COMPANY/THE (CALLABLE)
DTD 09/06/2019 1.750% 08/30/2024
400,000.00 APACCAR FINANCIAL CORP CORPORATE 175,000.00 A+ NOTES
DTD 02/06/2020 1.800% 02/06/2025
AMERICAN EXPRESS CO CORP NOTES
(CALLABLE
DTD 03/04/2022 2.250% 03/04/2025
025816CQ0
771196BT8
437076CM2
80,000.00 BBB+
410,000.00 AA
A2
Aa2
A2
03/01/22
03/03/22
03/24/22
03/04/22
03/10/22
03/28/22
79,919.20 2.29
410,000.00 2.13
24,956.25 2.76
135.00
509.90
311.25
79,961.66
410,000.00
24,977.93
76,009.76
391,038.73
24,018.83
ROCHE HOLDINGS INC (CALLABLE)
CORPORATE
DTD 03/10/2022 2.132% 03/10/2025
HOME DEPOT INC (CALLABLE) CORPORATE
NOTE
25,000.00 A
DTD 03/28/2022 2.700% 04/15/2025
CITIGROUP INC CORP NOTES
DTD 04/27/2015 3.300% 04/27/2025
172967JP7
17252MAP5
225,000.00 BBB+
65,000.00 AA3A3
08/28/20
04/26/22
09/01/20
05/03/22
249,738.75 0.88
64,985.70 3.46
3,176.25
934.38
233,357.88
64,992.44
216,226.35
CINTAS CORPORATION NO. 2 CORP NOTE 62,855.52
(CALL
DTD 05/03/2022 3.450% 05/01/2025
USAA CAPITAL CORP CORPORATE NOTES
DTD 05/26/2022 3.375% 05/01/2025
90327QD89 225,000.00 AA Aa1 05/23/22 05/26/22 224,264.25 3.49 3,164.06 224,602.93 216,345.83
Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description S&P Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Value Corporate Note
GENERAL DYNAMICS CORP (CALLABLE)
CORP NO
DTD 05/11/2018 3.500% 05/15/2025
369550BG2 225,000.00 A315,000.00 AA3
A1
10/16/20 10/20/20
06/01/21
252,247.50 0.80
315,000.00 0.82
2,975.00
865.20
234,003.37
315,000.00
217,957.95
JPMORGAN CHASE & CO (CALLABLE) CORP 304,504.83
NOTE
46647PCH7 05/24/21
DTD 06/01/2021 0.824% 06/01/2025
AMAZON INC CORP NOTES (CALLABLE)
DTD 06/03/2020 0.800% 06/03/2025
023135BQ8
63254ABD9
475,000.00 AA
250,000.00 AAA1 06/03/2005/31/22
06/05/20
06/09/22
474,767.25 0.81
250,000.00 3.50
1,245.56
2,722.22
474,922.03
250,000.00
439,967.80
NATIONAL AUSTRALIA BK/NY CORPORATE 241,655.75
NOTES
Aa3
DTD 06/09/2022 3.500% 06/09/2025
NATIONAL RURAL UTIL COOP CORPORATE
NOTES
63743HFE7 50,000.00 A- A2 04/27/22 05/04/22 49,986.50 3.46 507.92 49,992.61 48,161.00 DTD 05/04/2022 3.450% 06/15/2025
IBM CORP CORPORATE NOTES
DTD 07/27/2022 4.000% 07/27/2025
459200KS9
06051GFS3
002824BM1
225,000.00 A225,000.00 A225,000.00 AAA3
A1
07/20/22
08/18/20
09/24/20
07/27/22
08/20/20
09/28/20
225,000.00 4.00
256,918.50 0.93
257,845.50 0.86
1,600.00
1,453.13
387.50
225,000.00
236,834.75
236,890.03
218,854.35
218,050.88
218,228.40
BANK OF AMERICA CORP NOTES
DTD 07/30/2015 3.875% 08/01/2025
ABBOTT LABORATORIES CORPORATE
NOTES (CAL
Aa3
DTD 03/22/2017 3.875% 09/15/2025
BANK OF AMERICA CORP NOTES
(CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025
06051GKE8
46647PCV6
91324PEC2
225,000.00 A175,000.00 A225,000.00 A+A1
A1
A2
12/01/21
02/16/22
05/17/21
12/06/21
02/24/22
05/19/21
225,000.00 1.53
175,000.00 2.60
224,608.50 1.19
1,099.69
466.74
977.50
225,000.00
175,000.00
224,794.37
212,653.58
166,668.60
202,424.63
JPMORGAN CHASE & CO CORP NOTES
(CALLABLE
DTD 02/24/2022 2.595% 02/24/2026
UNITEDHEALTH GROUP INC (CALLABLE)
CORPOR
DTD 05/19/2021 1.150% 05/15/2026
Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description S&P Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Value Corporate Note
BMW US CAPITAL LLC (CALLABLE)
CORPORATE
DTD 08/12/2021 1.250% 08/12/2026
05565EBW4 175,000.00
225,000.00
A
A
A2
A2
08/12/21 08/16/21
01/13/22
174,947.50 1.26
223,863.75 1.81
297.74
881.88
174,969.86
224,254.36
155,733.55
CATERPILLAR FINL SERVICE CORPORATE 201,453.30
NOTES
14913R2U0 01/11/22
DTD 01/10/2022 1.700% 01/08/2027
TARGET CORP CORP NOTES (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
87612EBM7
06406RBA4
40,000.00 A
A
A2
A1
01/19/22
01/26/22
01/24/22
01/28/22
39,932.00 1.99
473,945.50 2.10
164.67 39,955.02 36,091.12
BANK OF NY MELLON CORP (CALLABLE)
CORPOR
475,000.00 1,758.16 474,298.73 424,572.10
DTD 01/26/2022 2.050% 01/26/2027
MICROSOFT CORP CORP NOTES (CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
594918BY9
025816CS6
750,000.00 AAA
300,000.00 BBB+
Aaa
A2
03/14/23
01/13/23
03/17/23
01/18/23
721,942.50 4.36
277,203.00 4.59
3,781.25
573.75
725,849.24
281,078.19
711,781.50
AMERICAN EXPRESS CO CORP NOTES 271,137.90
(CALLABLE
DTD 03/04/2022 2.550% 03/04/2027
BERKSHIRE HATHAWAY CORP NOTES
(CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027
084664CZ2
808513BW4
63254ABE7
475,000.00 AA
300,000.00 A500,000.00 AAAa2A2
03/15/22
02/17/23
01/13/23
03/17/22
02/22/23
01/18/23
466,089.00 2.70
284,925.00 4.66
488,325.00 4.50
485.56
4,950.00
6,074.44
468,839.49
287,147.53
490,189.50
433,812.75
275,009.70
470,544.50
CHARLES SCHWAB CORP NOTES
(CALLABLE)
DTD 09/24/2021 3.300% 04/01/2027
NATIONAL AUSTRALIA BK/NY CORPORATE
NOTES
Aa3
DTD 06/09/2022 3.905% 06/09/2027
APPLE INC (CALLABLE) BONDS
DTD 09/12/2017 2.900% 09/12/2027
037833DB3
89236TKQ7
775,000.00 AA+
375,000.00 A+
Aaa
A1
01/19/23
02/08/23
01/23/23
02/10/23
741,062.75 3.94
376,282.50 4.55
1,186.18
3,805.99
746,094.20
376,116.21
714,374.08
TOYOTA MOTOR CREDIT CORP CORPORATE 365,781.00
NOTES
DTD 01/12/2023 4.625% 01/12/2028
Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description S&P Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Value Corporate Note
NATIONAL RURAL UTIL COOP CORP NOTES
(CAL
DTD 02/07/2018 3.400% 02/07/2028
637432NP6 350,000.00 A85,000.00 A+
375,000.00 A+
60,000.00 AA1
Aa3
A2
02/17/23 02/22/23
05/18/23
03/13/23
05/25/23
07/25/23
329,189.00 4.76
87,043.40 4.04
358,263.75 4.93
59,892.00 4.49
377,865.00 4.78
1,785.00
499.61
331,728.61
86,880.22
360,136.73
59,899.67
377,757.72
322,859.25
83,239.06
352,721.63
57,955.26
369,412.50
TEXAS INSTRUMENTS INC CORP NOTE
(CALLABL
DTD 11/18/2022 4.600% 02/15/2028
882508BV5
110122DE5
539830BZ1
24422EXB0
05/11/23
03/09/23
05/23/23
07/21/23
BRISTOL-MYERS SQUIBB CO CORP NOTES
(CALL
DTD 07/15/2020 3.900% 02/20/2028
1,665.63
LOCKHEED MARTIN CORP NOTES 934.50
(CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
A2
JOHN DEERE CAPITAL CORP CORPORATE
NOTES
375,000.00 A A2 3,970.31
DTD 07/14/2023 4.950% 07/14/2028
Security Type Sub-Total
Certificate of Deposit
11,840,000.00 11,849,400.30 2.88 72,228.09 11,757,327.19 11,223,246.14
TORONTO DOMINION BANK NY CERT
DEPOS
DTD 10/31/2022 5.600% 10/27/2025
89115B6K1
65558UYF3
450,000.00 A A1 10/27/22
11/02/22
10/31/22
11/03/22
450,000.00 5.58 23,450.00 450,000.00 449,850.11
NORDEA BANK ABP NEW YORK CERT DEPOS
DTD 11/03/2022 5.530% 11/03/2025
450,000.00 AA- Aa3 450,000.00 5.53 10,230.50 450,000.00 446,455.35 Security Type Sub-Total
Asset-Backed Security
900,000.00 900,000.00 5.56 33,680.50 900,000.00 896,305.46 GMALT 2021-2 A4
DTD 05/26/2021 0.410% 05/20/2025
380144AD7
44933LAC7
7,905.67 AAA
32,583.46 AAA
NR
NR
05/18/21
04/20/21
05/26/21
04/28/21
7,905.00 0.41
32,580.04 0.38
0.99 5.50
7,905.40 7,888.92
HART 2021-A A3 32,581.93 31,940.46
DTD 04/28/2021 0.380% 09/15/2025
Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description S&P Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Value Asset-Backed Security
NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
65480BAC1
89190GAC1
43815GAC3
14314QAC8
44935FAD6
254683CP8
362554AC1
14318MAD1
65480JAC4
36265QAD8
891940AC2
14041NGB1
41285JAD0
344928AD8
174,780.61 AAA
176,061.06 AAA
85,713.92 NR
57,634.38 AAA
68,549.39 AAA
195,000.00 AAA
73,291.67 AAA
210,000.00 AAA
140,000.00 AAA
275,000.00 AAA
245,000.00 AAA
245,000.00 AAA
170,000.00 NR
130,000.00 AAA
Aaa
NR
06/15/21
06/08/21
11/16/21
04/13/21
11/09/21
09/20/21
10/13/21
07/12/22
09/20/22
10/04/22
01/24/23
10/27/22
02/13/23
03/28/23
06/23/21
06/14/21
11/24/21
04/21/21
11/17/21
09/27/21
10/21/21
07/20/22
09/28/22
10/12/22
01/30/23
11/03/22
02/23/23
03/31/23
174,777.64 0.33
176,042.09 0.26
85,695.85 0.89
57,621.95 0.52
68,534.09 0.75
194,958.25 0.58
73,289.79 0.68
209,995.04 3.97
139,971.03 4.46
274,954.93 4.82
244,999.88 4.63
244,961.56 4.95
169,982.88 5.05
129,986.44 4.65
25.63 20.34
174,779.21
176,051.93
85,703.89
57,628.25
68,540.46
194,975.14
73,290.54
209,996.30
139,977.33
274,963.95
244,999.90
244,968.62
169,985.02
129,987.84
169,532.87
171,214.08
82,427.16
55,915.79
66,243.94
185,495.58
70,371.69
205,012.84
137,630.92
271,000.87
240,550.48
241,607.22
167,816.98
127,653.15
TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
Aaa
NR
20.95 CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
13.32 HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
NR 22.55
DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
Aaa
Aaa
NR
50.27 GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
20.77 CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
370.53
277.51
552.29
504.16
539.00
381.56
268.67
NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
Aaa
GMCAR 2022-4 A3 NR
DTD 10/12/2022 4.820% 08/16/2027
TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
NR
COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
NR
HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
Aaa
FORDO 2023-A A3 NR
DTD 03/31/2023 4.650% 02/15/2028
Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description S&P Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
Dated Date/Coupon/Maturity CUSIP Par Rating Rating Date Value Asset-Backed Security
HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
43815QAC1
254683CY9
05522RDG0
02582JJZ4
14041NGD7
254683CZ6
31680EAD3
161571HT4
02582JKD1
320,000.00 AAA
320,000.00 NR
170,000.00 AAA
190,000.00 AAA
490,000.00 AAA
350,000.00 AAA
350,000.00 AAA
405,000.00 AAA
410,000.00 AAA
NR
Aaa
NR
08/15/23
04/04/23
06/08/23
06/07/23
05/17/23
06/21/23
08/15/23
09/07/23
09/12/23
08/22/23
04/11/23
06/16/23
06/14/23
05/24/23
06/28/23
08/23/23
09/15/23
09/19/23
319,934.02 5.42
319,981.44 4.31
169,961.51 4.79
189,983.15 4.87
489,887.64 4.43
349,952.72 4.93
349,978.30 5.53
404,887.73 5.17
409,981.67 5.23
625.16
612.98
361.91
411.24
962.58
766.89
860.22
928.80
714.77
319,935.63
319,983.22
169,963.80
189,984.17
489,895.67
349,955.20
349,978.77
404,887.68
409,980.85
318,998.05
311,577.09
167,630.97
187,483.34
477,948.30
345,782.99
348,795.93
402,783.31
408,604.36
DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
NR
COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
NR
DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
Aaa
Aaa
NR
FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
AMXCA 2023-3 A NR
DTD 09/19/2023 5.230% 09/15/2028
Security Type Sub-Total 5,291,520.16
53,371,094.75
5,290,804.64 4.17
3.18 9,318.59 5,290,900.70
52,095,010.99
5,201,907.29
Managed Account Sub-Total 50,158,301.78
Joint Powers Authority
CAMP Pool
51,891,728.27 274,504.36
50,943.95 AAAm
50,943.95
NR 50,943.95 0.00 50,943.95 50,943.95
Liquid Sub-Total 50,943.95 0.00 50,943.95 50,943.95
Managed Account Detail of Securities Held
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Securities Sub-Total
Accrued Interest
Total Investments
$53,422,038.70 $51,942,672.22 3.18% $274,504.36 $52,145,954.94 $50,209,245.73 $274,504.36
$50,483,750.09
Managed Account Fair Market Value & Analytics
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description Next Call
Date
Market
Price
Market
Value
Unreal G/L
On Cost
Unreal G/L
Amort Cost
Effective
Duration
YTM
Dated Date/Coupon/Maturity CUSIP Par Broker at Mkt
U.S. Treasury Bond / Note
US TREASURY N/B NOTES
DTD 01/31/2022 0.875% 01/31/2024
US TREASURY NOTES
DTD 12/31/2019 1.750% 12/31/2024
US TREASURY NOTES
DTD 06/30/2020 0.250% 06/30/2025
US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
US TREASURY N/B NOTES
DTD 04/30/2021 0.750% 04/30/2026
US TREASURY N/B NOTES
DTD 04/30/2021 0.750% 04/30/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
US TREASURY NOTES
91282CDV0
912828YY0
912828ZW3
91282CBC4
91282CBC4
91282CBW0
91282CBW0
91282CCP4
91282CCP4
91282CCP4
91282CCP4
91282CCP4
91282CCP4
912828U24
912828U24
912828U24
912828U24
400,000.00 CITIGRP
400,000.00 WELLS_F
150,000.00 GOLDMAN
200,000.00 BNP_PAR
400,000.00 CITIGRP
75,000.00 BMO
98.52 95.66
91.89 90.38
90.38 90.08
90.08 89.00
89.00 89.00
89.00 89.00
89.00 91.97
91.97 91.97
91.97 394,062.48
382,625.00
137,835.93
180,750.00
361,500.00
67,558.59
9,312.48
(44,906.25)
(9,257.82)
(13,789.06)
(26,468.75)
(3,899.42)
(71,101.61)
(1,007.81)
(3,750.00)
(22,968.75)
(20,343.75)
(18,035.16)
(18,562.50)
1,777.35
(1,028.55)
(25,204.36)
(10,965.50)
(16,292.89)
(31,844.76)
(5,269.17)
0.34 1.24
1.75 2.24
2.24 2.56
2.56 2.81
2.81 2.81
2.81 2.81
2.81 3.02
3.02 3.02
3.02 5.39
5.39 5.16
4.95 4.95
4.88 4.88
4.82 4.82
4.82 4.82
4.82 4.82
4.80 4.80
4.80 4.80
950,000.00 CITIGRP
200,000.00 BMO
855,742.14
178,000.00
222,500.00
667,500.00
712,000.00
801,000.00
801,000.00
229,921.88
896,695.31
1,931,343.75
8,737,031.25
(80,408.22)
(6,757.08)
250,000.00 HSBC
750,000.00 BMO
(11,635.98)
(40,252.02)
(40,859.46)
(43,777.28)
(41,481.07)
(3,137.16)
800,000.00 HSBC
900,000.00 MERRILL
900,000.00 BMO
250,000.00 BMO
975,000.00 BMO (10,397.46)
(22,722.66)
(185,546.88)
(23,313.81)
(52,943.79)
(291,696.68)
2,100,000.00 HSBC
9,500,000.00 JPM_CHA
DTD 11/15/2016 2.000% 11/15/2026
US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
Managed Account Fair Market Value & Analytics
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description Next Call
Date
Market
Price
Market
Value
Unreal G/L
On Cost
Unreal G/L
Amort Cost
Effective
Duration
YTM
Dated Date/Coupon/Maturity CUSIP Par Broker at Mkt
U.S. Treasury Bond / Note
US TREASURY N/B NOTES
DTD 04/30/2022 2.750% 04/30/2027
US TREASURY N/B NOTES
DTD 07/31/2022 2.750% 07/31/2027
US TREASURY N/B NOTES
DTD 07/31/2022 2.750% 07/31/2027
US TREASURY N/B NOTES
91282CEN7
91282CFB2
91282CFB2
91282CFB2
91282CFB2
1,200,000.00 BNP_PAR
375,000.00 MORGAN_
600,000.00 CITIGRP
800,000.00 BMO
93.52 93.16
93.16 93.16
93.16 1,122,187.44
349,335.94
558,937.50
745,250.00
768,539.06
(33,234.44)
(12,993.16)
(6,703.13)
(1,281.25)
(18,240.24)
(40,150.24)
(14,212.78)
(8,692.97)
(8,230.86)
(21,189.99)
3.39 3.64
3.64 3.64
3.64 4.74
4.72 4.72
4.72 4.72
DTD 07/31/2022 2.750% 07/31/2027
US TREASURY N/B NOTES 825,000.00 HSBC
DTD 07/31/2022 2.750% 07/31/2027
Security Type Sub-Total 23,000,000.00 21,101,316.27 (534,120.27) (819,344.62) 2.95 4.82 Supra-National Agency Bond / Note
INTL BK RECON & DEVELOP NOTES
DTD 11/24/2020 0.250% 11/24/2023
INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
459058JM6
4581X0DZ8
500,000.00 TD 99.25
95.18 496,250.00
604,366.33
(2,675.00) (3,696.99) 0.16
0.98 5.29
635,000.00 JPM_CHA (30,163.77) (30,480.18) 5.63
Security Type Sub-Total
Municipal Bond / Note
1,135,000.00 1,100,616.33 (32,838.77) (34,177.17) 0.61 5.48 CT ST TXBL GO BONDS 20772KJW0
157411TK5
650036DT0
91412HGE7
341271AD6
341271AD6
60,000.00 SIEBERT
100,000.00 RBC
97.49 97.27
93.07 93.29
92.94 92.94
58,493.40
97,269.00
302,487.25
79,293.10
60,410.35
78,998.15
(1,506.60)
(2,731.00)
(22,512.75)
(5,706.90)
(5,049.20)
(6,565.40)
(1,506.60)
(2,731.00)
(22,512.75)
(5,706.90)
(4,757.55)
(6,207.74)
0.75 0.83
1.45 1.53
1.74 1.74
5.44 5.48
5.90 5.25
5.54 5.54
DTD 06/11/2020 1.998% 07/01/2024
CHAFFEY UHSD, CA TXBL GO BONDS
DTD 12/05/2019 2.101% 08/01/2024
NY ST URBAN DEV CORP TXBL REV BONDS
DTD 12/23/2020 0.870% 03/15/2025
UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
325,000.00 WELLS_F
85,000.00 JPM_CHA
65,000.00 MERRILL
85,000.00 MERRILL
04/15/25
Managed Account Fair Market Value & Analytics
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description Next Call
Date
Market
Price
Market
Value
Unreal G/L
On Cost
Unreal G/L
Amort Cost
Effective
Duration
YTM
Dated Date/Coupon/Maturity CUSIP Par Broker at Mkt
Municipal Bond / Note
FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
MN ST TXBL GO BONDS
DTD 08/25/2020 0.630% 08/01/2025
SAN JUAN USD, CA TXBL GO BONDS
DTD 10/29/2020 0.852% 08/01/2025
LOS ANGELES CCD, CA TXBL GO BONDS
DTD 11/10/2020 0.773% 08/01/2025
CA ST UNIV TXBL REV BONDS
341271AD6
60412AVJ9
798306WP7
54438CYK2
13077DQD7
13063D3N6
160,000.00 MERRILL
100,000.00 MORGAN_
130,000.00 KEYBANC
140,000.00 MERRILL
85,000.00 JPM_CHA
200,000.00 WELLS_F
92.94 92.05
92.46 92.42
91.19 99.61
148,702.40
92,045.00
120,195.40
129,381.00
77,511.50
199,210.00
(11,297.60)
(7,955.00)
(9,804.60)
(10,619.00)
(7,488.50)
(790.00)
(11,297.60)
(7,955.00)
(9,804.60)
(10,619.00)
(7,488.50)
(790.00)
1.74 1.83
1.83 1.83
2.07 3.18
5.54 5.23
5.21 5.15
5.38 4.97
DTD 07/29/2021 0.862% 11/01/2025
CA ST MUNICIPAL BONDS
DTD 03/15/2023 4.846% 03/01/2027
Security Type Sub-Total 1,535,000.00 1,443,996.55 (92,026.55) (91,377.24) 1.80 5.42 Federal Agency Commercial Mortgage-Backed Security
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
FHMS K054 A2
DTD 04/20/2016 2.745% 01/01/2026
FHMS K058 A2
DTD 11/09/2016 2.653% 08/01/2026
FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
FHLMC MULTIFAMILY STRUCTURED P
DTD 07/01/2017 3.243% 04/01/2027
FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
FNA 2023-M6 A2
3137BGK24
3137BNGT5
3137BSP72
3137BTUM1
3137BXQY1
3137F1G44
3137HAD45
3137HACX2
3136BQDE6
250,000.00 CITIGRP
275,000.00 BAIRD
96.93 94.50
93.09 94.71
93.83 93.65
98.13 98.16
95.55 242,336.21
259,884.21
511,969.52
359,902.80
516,090.58
515,055.44
431,373.87
539,882.46
525,507.52
(20,046.60)
(3,729.07)
(14,870.32)
(8,400.33)
(2,714.11)
(11,977.76)
(8,189.74)
(15,610.94)
(15,168.26)
(10,752.26)
(5,678.46)
(18,170.69)
(9,610.03)
(3,777.31)
(13,797.90)
(8,190.15)
(15,385.40)
(15,489.96)
1.11 2.08
2.69 2.77
3.07 3.21
3.29 4.05
4.21 5.78
5.34 5.28
5.21 5.20
5.23 5.23
5.26 5.25
550,000.00 BREAN
380,000.00 CITIGRP
550,000.00 MORGAN_
550,000.00 CITIGRP
439,574.59 JPM_CHA
550,000.00 JPM_CHA
550,000.00 JPM_CHA
DTD 07/01/2023 4.190% 07/01/2028
Managed Account Fair Market Value & Analytics
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description Next Call
Date
Market
Price
Market
Value
Unreal G/L
On Cost
Unreal G/L
Amort Cost
Effective
Duration
YTM
Dated Date/Coupon/Maturity CUSIP Par Broker at Mkt
Federal Agency Commercial Mortgage-Backed Security
FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
FHMS K507 A2
3137HAMH6
3137HAMS2
800,000.00 WELLS_F
500,000.00 MERRILL
97.16 98.19
777,256.33
490,943.42
(10,909.27)
(3,080.08)
(11,012.10)
(3,089.37)
4.19 4.23
5.32 5.22
DTD 09/01/2023 4.800% 09/01/2028
Security Type Sub-Total 5,394,574.59 5,170,202.36 (114,696.48) (114,953.63) 3.40 5.28 Federal Agency Bond / Note
FREDDIE MAC NOTES
DTD 10/16/2020 0.125% 10/16/2023
FREDDIE MAC NOTES
DTD 11/05/2020 0.250% 11/06/2023
FANNIE MAE NOTES
DTD 11/25/2020 0.250% 11/27/2023
FREDDIE MAC NOTES
DTD 12/04/2020 0.250% 12/04/2023
FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025
FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
FEDERAL HOME LOAN BANK NOTES
DTD 09/11/2020 0.375% 09/04/2025
FREDDIE MAC NOTES
3137EAEY1
3137EAEZ8
3135G06H1
3137EAFA2
3130AJHU6
3135G03U5
3137EAEU9
3135G05X7
3130AK5E2
3137EAEX3
3135G06G3
325,000.00 WELLS_F
350,000.00 CITIGRP
325,000.00 NOMURA
300,000.00 CITIGRP
350,000.00 CITIGRP
350,000.00 CITIGRP
425,000.00 WELLS_F
350,000.00 BARCLAY
150,000.00 WELLS_F
700,000.00 CITIGRP
650,000.00 BARCLAY
99.79 99.51
99.20 99.10
93.05 93.12
91.78 91.42
91.42 91.19
90.96 324,319.45
348,282.55
322,413.98
297,312.90
325,665.55
325,922.10
390,072.65
319,979.10
137,126.40
638,355.90
591,260.80
531.70
(1,402.45)
(2,215.52)
(2,390.10)
(22,598.45)
(23,356.90)
(32,810.85)
(28,382.90)
(12,423.60)
(59,537.10)
(56,412.20)
(663.94)
(1,707.10)
(2,566.77)
(2,669.74)
(23,800.52)
(23,852.98)
(34,162.67)
(29,397.67)
(12,699.44)
(60,808.92)
(57,757.80)
0.05 0.10
0.16 0.18
1.53 1.55
1.81 1.90
1.92 1.98
2.09 4.84
5.18 5.31
5.33 5.26
5.27 5.19
5.17 5.11
5.11 5.09
DTD 09/25/2020 0.375% 09/23/2025
FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
Security Type Sub-Total
Corporate Note
4,275,000.00 4,020,711.38 (240,998.37) (250,087.55) 1.30 5.16
Managed Account Fair Market Value & Analytics
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description Next Call
Date
Market
Price
Market
Value
Unreal G/L
On Cost
Unreal G/L
Amort Cost
Effective
Duration
YTM
Dated Date/Coupon/Maturity CUSIP Par Broker at Mkt
Corporate Note
PNC BANK NA CORP NOTES (CALLABLE)
DTD 01/23/2019 3.500% 01/23/2024
CHARLES SCHWAB CORP NOTES
(CALLABLE)
693475AV7
808513BN4
400,000.00 CITIGRP
105,000.00 CSFB
12/23/23
02/18/24
99.16 97.64
396,635.20
102,519.48
(6,212.80)
(2,428.02)
(3,498.20)
(2,472.42)
0.24 0.39
6.19 5.95
DTD 03/18/2021 0.750% 03/18/2024
BANK OF NY MELLON CORP NOTES
(CALLABLE)
06406RAS6 210,000.00 JPM_CHA 03/26/24 97.05 203,806.89 (5,968.41) (6,150.47) 0.49 5.81 DTD 04/26/2021 0.500% 04/26/2024
MORGAN STANLEY CORP NOTES
DTD 04/28/2014 3.875% 04/29/2024
AMERICAN HONDA FINANCE CORP NOTE
DTD 06/27/2019 2.400% 06/27/2024
GOLDMAN SACHS GROUP INC (CALLABLE)
BONDS
DTD 07/08/2014 3.850% 07/08/2024
BMW US CAPITAL LLC CORPORATE NOTES
DTD 08/12/2021 0.750% 08/12/2024
WALT DISNEY COMPANY/THE (CALLABLE)
DTD 09/06/2019 1.750% 08/30/2024
PACCAR FINANCIAL CORP CORPORATE
NOTES
61746BDQ6
02665WCZ2
38141EC23
400,000.00 WELLS_FA
400,000.00 WELLS_FA
400,000.00 SUSQ
98.76 97.49
98.38 395,024.00
389,955.60
393,531.60
(27,892.00)
(8,060.40)
(25,100.40)
(7,751.70)
(9,748.28)
(8,511.15)
0.57 0.74
0.52 6.08
5.90 04/08/24 6.01
07/30/24
05565EBU8
254687FK7
69371RQ66
70,000.00 GOLDMAN
400,000.00 JPM_CHAS
175,000.00 MERRILL
95.76 96.56
95.09 67,029.20
386,226.80
166,415.38
(2,964.50)
(12,141.20)
(16,478.87)
(2,968.98)
(13,473.70)
(11,082.86)
0.87 0.83
1.34 5.84
5.66 5.62
DTD 02/06/2020 1.800% 02/06/2025
AMERICAN EXPRESS CO CORP NOTES
(CALLABLE
DTD 03/04/2022 2.250% 03/04/2025
ROCHE HOLDINGS INC (CALLABLE)
CORPORATE
DTD 03/10/2022 2.132% 03/10/2025
HOME DEPOT INC (CALLABLE) CORPORATE
NOTE
DTD 03/28/2022 2.700% 04/15/2025
CITIGROUP INC CORP NOTES
DTD 04/27/2015 3.300% 04/27/2025
025816CQ0
771196BT8
437076CM2
172967JP7
80,000.00 BARCLAY
410,000.00 DEUTSCH
25,000.00 MORGAN_
225,000.00 MKTX
02/01/25
02/10/25
03/15/25
95.01 95.38
96.08 96.10
76,009.76
391,038.73
24,018.83
216,226.35
(3,909.44)
(18,961.27)
(937.42)
(3,951.90)
(18,961.27)
(959.10)
1.32 1.35
1.42 1.53
5.94 5.51
5.39 (33,512.40) (17,131.53) 5.93
Managed Account Fair Market Value & Analytics
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description Next Call
Date
Market
Price
Market
Value
Unreal G/L
On Cost
Unreal G/L
Amort Cost
Effective
Duration
YTM
Dated Date/Coupon/Maturity CUSIP Par Broker at Mkt
Corporate Note
CINTAS CORPORATION NO. 2 CORP NOTE
(CALL
17252MAP5 65,000.00 KEYBANC 04/01/25 96.70 62,855.52 (2,130.18) (2,136.92) 1.46 5.65 DTD 05/03/2022 3.450% 05/01/2025
USAA CAPITAL CORP CORPORATE NOTES
DTD 05/26/2022 3.375% 05/01/2025
GENERAL DYNAMICS CORP (CALLABLE)
CORP NO
DTD 05/11/2018 3.500% 05/15/2025
JPMORGAN CHASE & CO (CALLABLE) CORP
NOTE
DTD 06/01/2021 0.824% 06/01/2025
AMAZON INC CORP NOTES (CALLABLE)
DTD 06/03/2020 0.800% 06/03/2025
NATIONAL AUSTRALIA BK/NY CORPORATE
NOTES
90327QD89
369550BG2
225,000.00 MERRILL
225,000.00 JPM_CHA
96.15 96.87
216,345.83
217,957.95
(7,918.42) (8,257.10) 1.54
1.42 5.95
03/15/25 5.54
06/01/24
05/03/25
(34,289.55) (16,045.42)
46647PCH7 315,000.00 JPM_CHA 96.67 304,504.83 (10,495.17) (10,495.17) 0.67 2.88 023135BQ8
63254ABD9
475,000.00 GOLDMAN
250,000.00 CITIGRP
92.62 96.66
439,967.80
241,655.75
(34,799.45)
(8,344.25)
(34,954.23)
(8,344.25)
1.58 1.64
5.47 5.59
DTD 06/09/2022 3.500% 06/09/2025
NATIONAL RURAL UTIL COOP CORPORATE
NOTES
63743HFE7 50,000.00 RBC 96.32 48,161.00 (1,825.50) (1,831.61) 1.66 5.74 DTD 05/04/2022 3.450% 06/15/2025
IBM CORP CORPORATE NOTES
DTD 07/27/2022 4.000% 07/27/2025
BANK OF AMERICA CORP NOTES
DTD 07/30/2015 3.875% 08/01/2025
ABBOTT LABORATORIES CORPORATE
NOTES (CAL
DTD 03/22/2017 3.875% 09/15/2025
BANK OF AMERICA CORP NOTES
(CALLABLE)
459200KS9
06051GFS3
002824BM1
225,000.00 JPM_CHA
225,000.00 MERRILL
225,000.00 US_BANC
97.27 96.91
96.99 218,854.35
218,050.88
218,228.40
(6,145.65)
(38,867.62)
(39,617.10)
(6,145.65)
(18,783.87)
(18,661.63)
1.77 1.78
1.67 5.59
5.67 06/15/25 5.52
12/06/24
02/24/25
06051GKE8
46647PCV6
225,000.00 MERRILL
175,000.00 JPM_CHA
94.51 95.24
212,653.58
166,668.60
(12,346.42)
(8,331.40)
(12,346.42)
(8,331.40)
1.17 1.38
4.19 4.72
DTD 12/06/2021 1.530% 12/06/2025
JPMORGAN CHASE & CO CORP NOTES
(CALLABLE
DTD 02/24/2022 2.595% 02/24/2026
Managed Account Fair Market Value & Analytics
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description Next Call
Date
Market
Price
Market
Value
Unreal G/L
On Cost
Unreal G/L
Amort Cost
Effective
Duration
YTM
Dated Date/Coupon/Maturity CUSIP Par Broker at Mkt
Corporate Note
UNITEDHEALTH GROUP INC (CALLABLE)
CORPOR
DTD 05/19/2021 1.150% 05/15/2026
BMW US CAPITAL LLC (CALLABLE)
CORPORATE
DTD 08/12/2021 1.250% 08/12/2026
CATERPILLAR FINL SERVICE CORPORATE
NOTES
91324PEC2
05565EBW4
14913R2U0
225,000.00 CITIGRP
175,000.00 MITSU
225,000.00 JPM_CHA
04/15/26
07/12/26
89.97 88.99
89.53 202,424.63
155,733.55
201,453.30
(22,183.87)
(19,213.95)
(22,410.45)
(22,369.74)
(19,236.31)
(22,801.06)
2.50 2.74
3.18 5.29
5.45 5.22
DTD 01/10/2022 1.700% 01/08/2027
TARGET CORP CORP NOTES (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
BANK OF NY MELLON CORP (CALLABLE)
CORPOR
87612EBM7
06406RBA4
40,000.00 CITIGRP 12/15/26
12/26/26
90.23 89.38
36,091.12 (3,840.88) (3,863.90) 3.11
3.13 5.22
475,000.00 DEUTSCH 424,572.10 (49,373.40) (49,726.63) 5.60 DTD 01/26/2022 2.050% 01/26/2027
MICROSOFT CORP CORP NOTES
(CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
AMERICAN EXPRESS CO CORP NOTES
(CALLABLE
DTD 03/04/2022 2.550% 03/04/2027
BERKSHIRE HATHAWAY CORP NOTES
(CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027
CHARLES SCHWAB CORP NOTES
(CALLABLE)
594918BY9
025816CS6
084664CZ2
808513BW4
63254ABE7
750,000.00 GOLDMAN
300,000.00 RBS
11/06/26
02/01/27
02/15/27
01/01/27
94.90 90.38
91.33 91.67
94.11 711,781.50
271,137.90
433,812.75
275,009.70
470,544.50
(10,161.00)
(6,065.10)
(32,276.25)
(9,915.30)
(17,780.50)
(14,067.74)
(9,940.29)
(35,026.74)
(12,137.83)
(19,645.00)
2.96 3.21
3.26 3.05
3.43 4.97
5.68 5.06
5.97 5.69
475,000.00 SEEL
300,000.00 BARCLAY
500,000.00 CBAA
DTD 09/24/2021 3.300% 04/01/2027
NATIONAL AUSTRALIA BK/NY CORPORATE
NOTES
DTD 06/09/2022 3.905% 06/09/2027
APPLE INC (CALLABLE) BONDS
DTD 09/12/2017 2.900% 09/12/2027
TOYOTA MOTOR CREDIT CORP
CORPORATE NOTES
037833DB3
89236TKQ7
775,000.00 TD 06/12/27 92.18
97.54 714,374.08
365,781.00
(26,688.67)
(10,501.50)
(31,720.12)
(10,335.21)
3.52 3.89
5.11 375,000.00 WELLS_F 5.27
DTD 01/12/2023 4.625% 01/12/2028
Managed Account Fair Market Value & Analytics
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description Next Call
Date
Market
Price
Market
Value
Unreal G/L
On Cost
Unreal G/L
Amort Cost
Effective
Duration
YTM
Dated Date/Coupon/Maturity CUSIP Par Broker at Mkt
Corporate Note
NATIONAL RURAL UTIL COOP CORP NOTES
(CAL
DTD 02/07/2018 3.400% 02/07/2028
TEXAS INSTRUMENTS INC CORP NOTE
(CALLABL
DTD 11/18/2022 4.600% 02/15/2028
BRISTOL-MYERS SQUIBB CO CORP NOTES
(CALL
DTD 07/15/2020 3.900% 02/20/2028
LOCKHEED MARTIN CORP NOTES
(CALLABLE)
637432NP6
882508BV5
110122DE5
539830BZ1
24422EXB0
350,000.00 MORGAN_
85,000.00 JPM_CHA
375,000.00 MKTX
11/07/27
01/15/28
11/20/27
04/15/28
92.25 97.93
94.06 96.59
98.51 322,859.25
83,239.06
352,721.63
57,955.26
369,412.50
(6,329.75)
(3,804.34)
(5,542.12)
(1,936.74)
(8,452.50)
(8,869.36)
(3,641.16)
(7,415.10)
(1,944.41)
(8,345.22)
3.83 3.92
3.84 4.16
4.28 5.42
5.13 5.44
5.29 5.30
60,000.00 BARCLAY
375,000.00 CITIGRP
DTD 05/25/2023 4.450% 05/15/2028
JOHN DEERE CAPITAL CORP CORPORATE
NOTES
DTD 07/14/2023 4.950% 07/14/2028
Security Type Sub-Total
Certificate of Deposit
11,840,000.00 11,223,246.14 (626,154.16) (534,081.05) 2.21 5.44
TORONTO DOMINION BANK NY CERT
DEPOS
DTD 10/31/2022 5.600% 10/27/2025
NORDEA BANK ABP NEW YORK CERT
DEPOS
89115B6K1
65558UYF3
450,000.00 TD 99.97
99.21 449,850.11
446,455.35
(149.89) (149.89) 2.77
1.96 5.59
450,000.00 WELLS_F (3,544.65) (3,544.65) 5.93
DTD 11/03/2022 5.530% 11/03/2025
Security Type Sub-Total
Asset-Backed Security
900,000.00 896,305.46 (3,694.54) (3,694.54) 2.37 5.76
GMALT 2021-2 A4
DTD 05/26/2021 0.410% 05/20/2025
HART 2021-A A3
380144AD7
44933LAC7
7,905.67 SOCGEN 99.79
98.03 7,888.92 (16.08) (16.48) 0.06
0.37 0.54
32,583.46 BARCLAY 31,940.46 (639.58) (641.47) 1.40
DTD 04/28/2021 0.380% 09/15/2025
Managed Account Fair Market Value & Analytics
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description Next Call
Date
Market
Price
Market
Value
Unreal G/L
On Cost
Unreal G/L
Amort Cost
Effective
Duration
YTM
Dated Date/Coupon/Maturity CUSIP Par Broker at Mkt
Asset-Backed Security
NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
DCENT 2023-A1 A
65480BAC1
89190GAC1
43815GAC3
14314QAC8
44935FAD6
254683CP8
362554AC1
14318MAD1
65480JAC4
36265QAD8
891940AC2
14041NGB1
41285JAD0
344928AD8
43815QAC1
254683CY9
05522RDG0
174,780.61 MITSU
176,061.06 CITIGRP
85,713.92 MERRILL
57,634.38 MERRILL
68,549.39 SMBC
97.00 97.25
96.17 97.02
96.64 95.13
96.02 97.63
98.31 98.55
98.18 98.62
98.72 98.19
99.69 97.37
98.61 169,532.87
171,214.08
82,427.16
55,915.79
66,243.94
185,495.58
70,371.69
205,012.84
137,630.92
271,000.87
240,550.48
241,607.22
167,816.98
127,653.15
318,998.05
311,577.09
167,630.97
(5,244.77)
(4,828.01)
(3,268.69)
(1,706.16)
(2,290.15)
(9,462.67)
(2,918.10)
(4,982.20)
(2,340.11)
(3,954.06)
(4,449.40)
(3,354.34)
(2,165.90)
(2,333.29)
(935.97)
(5,246.34)
(4,837.85)
(3,276.73)
(1,712.46)
(2,296.52)
(9,479.56)
(2,918.85)
(4,983.46)
(2,346.41)
(3,963.08)
(4,449.42)
(3,361.40)
(2,168.04)
(2,334.69)
(937.58)
0.51 0.51
0.72 0.52
0.65 0.94
0.75 1.22
1.50 1.45
1.73 1.90
1.47 1.74
2.08 2.27
2.46 1.83
1.57 2.59
1.80 2.06
2.29 2.07
4.70 4.97
5.24 5.14
5.33 5.39
5.11 5.49
4.97 5.13
195,000.00 CITIGRP
73,291.67 JPM_CHA
210,000.00 RBC
140,000.00 WELLS_F
275,000.00 RBC
245,000.00 MERRILL
245,000.00 RBC
170,000.00 JPM_CHA
130,000.00 BNP_PAR
320,000.00 MERRILL
320,000.00 RBC (8,404.35)
(2,330.54)
(8,406.13)
(2,332.83)
DTD 04/11/2023 4.310% 03/15/2028
BACCT 2023-A1 A1 170,000.00 MERRILL
DTD 06/16/2023 4.790% 05/15/2028
Managed Account Fair Market Value & Analytics
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Security Type/Description Next Call
Date
Market
Price
Market
Value
Unreal G/L
On Cost
Unreal G/L
Amort Cost
Effective
Duration
YTM
Dated Date/Coupon/Maturity CUSIP Par Broker at Mkt
Asset-Backed Security
AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
AMXCA 2023-3 A
02582JJZ4
14041NGD7
254683CZ6
31680EAD3
161571HT4
02582JKD1
190,000.00 RBC 98.68
97.54 98.80
99.66 99.45
99.66 187,483.34
477,948.30
345,782.99
348,795.93
402,783.31
408,604.36
(2,499.81)
(11,939.34)
(4,169.73)
(1,182.37)
(2,104.42)
(1,377.31)
(2,500.83)
(11,947.37)
(4,172.21)
(1,182.84)
(2,104.37)
(1,376.49)
2.41 2.42
2.47 2.14
2.68 2.68
5.19 5.02
5.22 5.61
5.29 5.31
490,000.00 RBC
350,000.00 MERRILL
350,000.00 JPM_CHA
405,000.00 JPM_CHA
410,000.00 CITIGRP
DTD 09/19/2023 5.230% 09/15/2028
Security Type Sub-Total 5,291,520.16 5,201,907.29
50,158,301.78
(88,897.35) (88,993.41) 1.90
2.49 4.69
Managed Account Sub-Total 53,371,094.75 (1,733,426.49) (1,936,709.21) 5.07 Joint Powers Authority
CAMP Pool 50,943.95 1.00 50,943.95 0.00 0.00 0.00
Liquid Sub-Total 50,943.95 50,943.95 0.00 0.00 0.00
Securities Sub-Total
Accrued Interest
Total Investments
$53,422,038.70 $50,209,245.73
$274,504.36
$50,483,750.09
($1,733,426.49) ($1,936,709.21) 2.49 5.07%
Managed Account Security Transactions & Interest
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Transaction Type Principal
Proceeds
Accrued
Interest
Realized G/L Realized G/L
Cost Amort Cost
Sale
Trade Method
BUY
Settle Security Description CUSIP Par Total
09/07/23
09/07/23
09/12/23
09/20/23
09/14/23
09/15/23
09/19/23
09/28/23
FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
FHMS K507 A2
3137HAMH6 800,000.00
405,000.00
410,000.00
500,000.00
(788,165.60)
(404,887.73)
(409,981.67)
(494,023.50)
(1,343.33) (789,508.93)
(404,887.73)
(409,981.67)
(495,823.50)
161571HT4
02582JKD1
3137HAMS2
0.00 0.00
(1,800.00)
DTD 09/01/2023 4.800% 09/01/2028
Transaction Type Sub-Total
INTEREST
2,115,000.00 (2,097,058.50) (3,143.33) (2,100,201.83)
09/01/23
09/01/23
09/01/23
09/01/23
09/01/23
09/01/23
09/01/23
09/01/23
09/01/23
09/01/23
09/04/23
09/01/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/04/23
CA ST MUNICIPAL BONDS
DTD 03/15/2023 4.846% 03/01/2027
FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
FHMS K054 A2
DTD 04/20/2016 2.745% 01/01/2026
FHLMC MULTIFAMILY STRUCTURED P
DTD 07/01/2017 3.243% 04/01/2027
FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
FHMS K058 A2
DTD 11/09/2016 2.653% 08/01/2026
FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
FHMS K043 A2
13063D3N6
3137BXQY1
3136BQDE6
3137HACX2
3137BNGT5
3137F1G44
3137BTUM1
3137BSP72
3137HAD45
3137BGK24
025816CS6
200,000.00
550,000.00
550,000.00
550,000.00
275,000.00
550,000.00
380,000.00
550,000.00
439,787.86
250,000.00
300,000.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 4,469.09
1,477.67
1,920.42
2,208.71
629.06
4,469.09
1,477.67
1,920.42
2,208.71
629.06
1,486.38
1,059.88
1,215.96
1,750.72
637.92
1,486.38
1,059.88
1,215.96
1,750.72
637.92
DTD 03/01/2015 3.062% 12/01/2024
AMERICAN EXPRESS CO CORP NOTES
(CALLABLE
3,825.00 3,825.00
DTD 03/04/2022 2.550% 03/04/2027
Managed Account Security Transactions & Interest
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Transaction Type Principal
Proceeds
Accrued
Interest
Realized G/L Realized G/L
Cost Amort Cost
Sale
Trade Settle Security Description CUSIP Par Total Method
INTEREST
09/04/23 09/04/23 AMERICAN EXPRESS CO CORP NOTES
(CALLABLE
025816CQ0 80,000.00 0.00 900.00 900.00
DTD 03/04/2022 2.250% 03/04/2025
FEDERAL HOME LOAN BANK NOTES
DTD 09/11/2020 0.375% 09/04/2025
ROCHE HOLDINGS INC (CALLABLE)
CORPORATE
09/04/23
09/10/23
09/04/23
09/10/23
3130AK5E2
771196BT8
150,000.00
410,000.00
0.00 0.00
281.25 281.25
4,370.60 4,370.60
DTD 03/10/2022 2.132% 03/10/2025
APPLE INC (CALLABLE) BONDS
DTD 09/12/2017 2.900% 09/12/2027
HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
ABBOTT LABORATORIES CORPORATE
NOTES (CAL
09/12/23
09/15/23
09/15/23
09/12/23
09/15/23
09/15/23
037833DB3
44935FAD6
002824BM1
775,000.00
73,374.84
225,000.00
0.00 0.00
0.00 11,237.50
45.25 11,237.50
45.25 4,359.38 4,359.38
DTD 03/22/2017 3.875% 09/15/2025
DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
AMXCA 2023-1 A
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
254683CY9
14041NGD7
14314QAC8
02582JJZ4
650036DT0
320,000.00
490,000.00
62,788.50
190,000.00
325,000.00
0.00 0.00
0.00 0.00
0.00 1,149.33
1,804.83
27.21 1,149.33
1,804.83
27.21 771.08 771.08
DTD 06/14/2023 4.870% 05/15/2028
NY ST URBAN DEV CORP TXBL REV
BONDS
1,413.75 1,413.75
DTD 12/23/2020 0.870% 03/15/2025
TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
DCENT 2023-A2 A
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
89190GAC1
05522RDG0
65480JAC4
254683CZ6
192,217.77
170,000.00
140,000.00
350,000.00
0.00 0.00
0.00 0.00
41.65 678.58
41.65 678.58
520.33 520.33
1,437.92 1,437.92
DTD 06/28/2023 4.930% 06/15/2028
Managed Account Security Transactions & Interest
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Transaction Type Principal
Proceeds
Accrued
Interest
Realized G/L Realized G/L
Cost Amort Cost
Sale
Trade Settle Security Description CUSIP Par Total Method
INTEREST
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
BERKSHIRE HATHAWAY CORP NOTES
(CALLABLE)
14318MAD1 210,000.00
350,000.00
245,000.00
245,000.00
130,000.00
195,000.00
475,000.00
0.00 694.75 694.75
31680EAD3
14041NGB1
891940AC2
344928AD8
254683CP8
084664CZ2
0.00 0.00
0.00 0.00
0.00 0.00
1,182.81
1,010.63
945.29
1,182.81
1,010.63
945.29
503.75 503.75
94.25 94.25
5,462.50 5,462.50
DTD 03/15/2022 2.300% 03/15/2027
NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
CHARLES SCHWAB CORP NOTES
(CALLABLE)
09/15/23
09/15/23
09/15/23
09/16/23
09/16/23
09/18/23
09/15/23
09/15/23
09/15/23
09/16/23
09/16/23
09/18/23
65480BAC1
44933LAC7
41285JAD0
362554AC1
36265QAD8
808513BN4
190,326.75
36,416.89
170,000.00
77,749.47
275,000.00
105,000.00
0.00 0.00
0.00 0.00
0.00 0.00
52.34 11.53
52.34 11.53
715.42
44.06 715.42
44.06 1,104.58
393.75
1,104.58
393.75
DTD 03/18/2021 0.750% 03/18/2024
HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
GMALT 2021-2 A4
DTD 05/26/2021 0.410% 05/20/2025
HAROT 2021-4 A3
09/18/23
09/20/23
09/21/23
09/18/23
09/20/23
09/21/23
43815QAC1
380144AD7
43815GAC3
320,000.00
22,615.32
91,588.31
0.00 0.00
0.00 1,250.31
7.73 1,250.31
7.73 67.16 67.16
DTD 11/24/2021 0.880% 01/21/2026
Managed Account Security Transactions & Interest
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Transaction Type Principal
Proceeds
Accrued
Interest
Realized G/L Realized G/L
Cost Amort Cost
Sale
Trade Settle Security Description CUSIP Par Total Method
INTEREST
09/23/23
09/23/23
09/23/23
09/23/23
INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
FREDDIE MAC NOTES
4581X0DZ8 635,000.00
700,000.00
0.00 1,587.50 1,587.50
3137EAEX3 0.00 1,312.50 1,312.50
DTD 09/25/2020 0.375% 09/23/2025
Transaction Type Sub-Total
MATURITY
13,021,865.71 0.00 66,160.33 66,160.33
09/08/23 09/08/23 FREDDIE MAC NOTES 3137EAEW5 250,000.00 250,000.00 312.50 250,312.50 82.50 0.00 DTD 09/04/2020 0.250% 09/08/2023
Transaction Type Sub-Total
PAYDOWNS
250,000.00 250,000.00 312.50 250,312.50 82.50 0.00
09/01/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/16/23
09/20/23
09/21/23
09/25/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/16/23
09/20/23
09/21/23
FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
GMALT 2021-2 A4
3137HAD45
14314QAC8
44935FAD6
65480BAC1
89190GAC1
44933LAC7
362554AC1
380144AD7
43815GAC3
213.27
5,154.12
4,825.45
15,546.14
16,156.71
3,833.43
4,457.80
14,709.65
5,874.39
213.27
5,154.12
4,825.45
15,546.14
16,156.71
3,833.43
4,457.80
14,709.65
5,874.39
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 213.27
5,154.12
4,825.45
15,546.14
16,156.71
3,833.43
4,457.80
14,709.65
5,874.39
0.01 1.11
1.08 0.26
1.74 0.40
0.11 1.24
1.24 0.00
0.00 0.00
0.00 0.00
0.00 0.00
0.00 0.00
DTD 05/26/2021 0.410% 05/20/2025
HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
Transaction Type Sub-Total 70,770.96 70,770.96 0.00 70,770.96 7.19 0.00
Managed Account Security Transactions & Interest
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Transaction Type Principal
Proceeds
Accrued
Interest
Realized G/L Realized G/L Sale
Trade Method
SELL
Settle Security Description CUSIP Par Total Cost Amort Cost 09/07/23
09/08/23
09/12/23
09/20/23
09/20/23
09/14/23
09/15/23
09/19/23
09/27/23
09/27/23
US TREASURY N/B NOTES
DTD 01/31/2022 0.875% 01/31/2024
US TREASURY N/B NOTES
DTD 01/31/2022 0.875% 01/31/2024
US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
US TREASURY NOTES
91282CDV0 500,000.00
325,000.00
450,000.00
100,000.00
450,000.00
491,562.50 534.99 492,097.49
319,934.57
407,533.54
90,543.82
407,447.18
10,625.00 (1,446.24)
(909.27)
FIFO
FIFO
FIFO
FIFO
FIFO
91282CDV0
91282CBC4
91282CBC4
91282CBC4
319,579.10
407,162.11
90,453.13
407,039.06
355.47
371.43
90.69 6,969.73
(36,966.80)
(8,242.18)
(30,673.83)
(39,730.98)
(8,863.07)
(36,275.07)
DTD 12/31/2020 0.375% 12/31/2025
US TREASURY NOTES 408.12
DTD 12/31/2020 0.375% 12/31/2025
Transaction Type Sub-Total
Managed Account Sub-Total
Total Security Transactions
1,825,000.00 1,715,795.90
(60,491.64)
($60,491.64)
1,760.70
65,090.20
$65,090.20
1,717,556.60
4,598.56
(58,288.08)
(58,198.39)
($58,198.39)
(87,224.63)
(87,224.63)
$4,598.56 ($87,224.63)
Account Statement
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Trade
Date
Settlement
Date
Share or
Unit Price
Dollar Amount
of Transaction
Total
Transaction Description Shares Owned
CAMP Pool
Opening Balance
09/01/23
09/05/23
09/05/23
09/05/23
09/08/23
09/11/23
09/12/23
09/14/23
09/14/23
09/14/23
09/14/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
50,055.18
54,524.27
54,805.52
58,630.52
59,530.52
309,843.02
314,213.62
325,451.12
817,013.62
817,548.61
816,205.28
28,039.68
32,399.06
33,170.14
33,848.72
35,653.55
35,680.76
36,375.51
36,469.76
37,619.09
39,057.01
40,239.82
09/01/23
09/05/23
09/05/23
09/05/23
09/08/23
09/11/23
09/12/23
09/14/23
09/14/23
09/14/23
09/14/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
Purchase - Interest 13063D3N6
Purchase - Interest 3130AK5E2
Purchase - Interest 025816CS6
Purchase - Interest 025816CQ0
Purchase - Principal 3137EAEW5
Purchase - Interest 771196BT8
Purchase - Interest 037833DB3
Purchase - Principal 91282CDV0
Purchase - Interest 91282CDV0
Redemption - Interest 3137HAMH6
Redemption - Principal 3137HAMH6
Purchase - Interest 002824BM1
Purchase - Interest 02582JJZ4
Purchase - Interest 05522RDG0
Purchase - Interest 14041NGD7
Purchase - Interest 14314QAC8
Purchase - Interest 14318MAD1
Purchase - Interest 254683CP8
Purchase - Interest 254683CY9
Purchase - Interest 254683CZ6
Purchase - Interest 31680EAD3
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 4,469.09
281.25
3,825.00
900.00
250,312.50
4,370.60
11,237.50
491,562.50
534.99
(1,343.33)
(788,165.60)
4,359.38
771.08
678.58
1,804.83
27.21 694.75
94.25 1,149.33
1,437.92
1,182.81
Account Statement
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Trade
Date
Settlement
Date
Share or
Unit Price
Dollar Amount
of Transaction
Total
Transaction Description Shares Owned
CAMP Pool
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/18/23
09/18/23
09/18/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/15/23
09/18/23
09/18/23
09/18/23
Purchase - Interest 344928AD8
Purchase - Interest 41285JAD0
Purchase - Interest 44933LAC7
Purchase - Interest 44935FAD6
Purchase - Interest 65480BAC1
Purchase - Interest 65480JAC4
Purchase - Interest 89190GAC1
Purchase - Interest 891940AC2
Purchase - Interest 14041NGB1
Purchase - Interest 084664CZ2
Purchase - Interest 650036DT0
Purchase - Interest 91282CDV0
Purchase - Principal 91282CDV0
Purchase - Principal 14314QAC8
Purchase - Principal 44935FAD6
Purchase - Principal 65480BAC1
Purchase - Principal 44933LAC7
Purchase - Principal 89190GAC1
Redemption - Principal 161571HT4
Purchase - Interest 808513BN4
Purchase - Interest 362554AC1
Purchase - Interest 36265QAD8
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
503.75
715.42
40,743.57
41,458.99
41,470.52
41,515.77
41,568.11
42,088.44
42,130.09
43,075.38
44,086.01
49,548.51
50,962.26
51,317.73
370,896.83
376,050.95
380,876.40
396,422.54
400,255.97
416,412.68
11,524.95
11,918.70
11,962.76
13,067.34
11.53 45.25
52.34 520.33
41.65 945.29
1,010.63
5,462.50
1,413.75
355.47
319,579.10
5,154.12
4,825.45
15,546.14
3,833.43
16,156.71
(404,887.73)
393.75
44.06 1,104.58
Account Statement
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Trade
Date
Settlement
Date
Share or
Unit Price
Dollar Amount
of Transaction
Total
Transaction Description Shares Owned
CAMP Pool
09/18/23
09/18/23
09/19/23
09/19/23
09/19/23
09/20/23
09/20/23
09/21/23
09/21/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/27/23
09/18/23
09/18/23
09/19/23
09/19/23
09/19/23
09/20/23
09/20/23
09/21/23
09/21/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/25/23
09/27/23
Purchase - Interest 43815QAC1
Purchase - Principal 362554AC1
Purchase - Principal 91282CBC4
Purchase - Interest 91282CBC4
Redemption - Principal 02582JKD1
Purchase - Interest 380144AD7
Purchase - Principal 380144AD7
Purchase - Interest 43815GAC3
Purchase - Principal 43815GAC3
Purchase - Interest 3137EAEX3
Purchase - Interest 4581X0DZ8
Purchase - Interest 3137HAD45
Purchase - Interest 3137HACX2
Purchase - Interest 3137F1G44
Purchase - Interest 3137BXQY1
Purchase - Interest 3137BTUM1
Purchase - Interest 3137BSP72
Purchase - Interest 3137BNGT5
Purchase - Interest 3137BGK24
Purchase - Interest 3136BQDE6
Purchase - Principal 3137HAD45
Purchase - Interest 91282CBC4
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1.00 1.00
1,250.31
4,457.80
407,162.11
371.43
14,317.65
18,775.45
425,937.56
426,308.99
16,327.32
16,335.05
31,044.70
31,111.86
36,986.25
38,298.75
39,886.25
41,636.97
43,845.68
45,332.06
46,809.73
47,869.61
49,085.57
49,714.63
50,352.55
52,272.97
52,486.24
52,985.05
(409,981.67)
7.73 14,709.65
67.16 5,874.39
1,312.50
1,587.50
1,750.72
2,208.71
1,486.38
1,477.67
1,059.88
1,215.96
629.06
637.92
1,920.42
213.27
498.81
Account Statement
CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending September 30, 2023
Trade
Date
Settlement
Date
Share or
Unit Price
Dollar Amount
of Transaction
Total
Transaction Description Shares Owned
CAMP Pool
09/27/23
09/28/23
09/28/23
09/28/23
09/28/23
09/29/23
09/27/23
09/28/23
09/28/23
09/28/23
09/28/23
10/02/23
Purchase - Principal 91282CBC4
Redemption - Principal 3137HAMS2
Redemption - Interest 3137HAMS2
IP Fees August 2023
1.00 1.00
1.00 1.00
1.00 1.00
497,492.19
(494,023.50)
(1,800.00)
(3,975.02)
(247.23)
550,477.24
56,453.74
54,653.74
50,678.72
50,431.49
50,943.95
U.S. Bank Fees July 2023
Accrual Income Div Reinvestment - Distributions 512.46
Closing Balance 50,943.95
Month of Fiscal YTD
September January-September
Opening Balance
Purchases
Redemptions (Excl. Checks)
Check Disbursements
50,055.18
2,105,312.85
(2,104,424.08)
0.00 46,870.41
33,220,485.40
(33,216,411.86)
0.00 Closing Balance
Average Monthly Balance
Monthly Distribution Yield
50,943.95
112,526.99
5.55%
Closing Balance 50,943.95 50,943.95
Cash Dividends and Income 512.46 25,947.49
Investment Performance Review
CAMP Accounts
City of Lake Elsinore
Investment Performance Review
For the Quarter Ended September 30, 2023
PFM Asset Management LLC
NOT FDIC INSURED : NO BANK GUARANTEE : MAY LOSE VALUE
For Institutional Investor or Investment Professional Use Only - This material is not for inspection by, distribution to, or quotation to the general public Market Update
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Market Update
Current Market Themes
▸ The U.S. economy is characterized by:
▹ Stronger than expected growth, supported by a resilient consumer ▹ Inflation that remains stubbornly above the Federal Reserve’s (“Fed”) target range ▹ Continued creation of new jobs by the labor market, albeit at a moderating pace ▸ Fed pauses again in rate hike campaign
▹ After hiking in July, the Federal Reserve held rates steady at the September FOMC meeting as expected
▹ The Fed’s most recent “dot plot” indicated one more rate hike for 2023 and set the stage for interest rates to remain “higher-for-longer”
▹ Updated FOMC economic projections point to stronger GDP growth expectations, higher inflation, and slightly lower unemployment for the remainder of 2023 and into 2024 ▸ Interest rates reached their highest levels since 2006-7 ▹ The U.S. government rating downgrade by Fitch had little impact, although it highlighted growing worry about the erosion of governance standards and fiscal irresponsibility ▹ Treasury yields across the curve rose during Q3. Sticky inflation, a “higher for longer” market consensus, increased Treasury borrowing, and reduced Treasury holdings by China and Japan weighed especially on the long end of the curve ▹ The next concern is the annual federal budget process and potential for a government shutdown
1 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Market Update
Inflation Gradually Falling, But Sensitive to
Recently Rising Energy Prices
Factors Contributing to the Consumer Price Index
(CPI YoY)
10%
8%
6%
4%
2%
0%
-2%
Services (Ex Food & Energy) Goods (Ex Food & Energy) Food Energy Headline YoY% Aug-20 Nov-20 Feb-21 May-21 Aug-21 Nov-21 Feb-22 May-22 Aug-22 Nov-22 Feb-23 May-23 Aug-23 Source: Bloomberg, as of August 2023.
2 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Market Update
Personal Savings and Consumer Debt Have Returned to Pre-Pandemic Levels Personal Savings Household Debt Service Payments as a Percent of Disposable Personal Income
Accumulated Excess Savings Drawdowns of Excess Savings
11%
10%
9%
$8
$7
$6
$5
$4
$3
$2
$1
$0
Consumer debt levels have returned to longer-term
historical averages after declining during the pandemic
9.85% 9.83%
Prepandemic
trend
43-year low 8.31%
8%
2016 2017 2018 2019 2020 2021 2022 2023
Source: Bloomberg and New York Fed Household Debt and Credit Report. Data as of June 30, 2023. (Left chart) Source: Federal Reserve Bank of St. Louis. Data as of April 1, 2023. (Right chart) 3 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Market Update
Wages Have Caught Up to Inflation Once Again
Wage Growth vs. Inflation
Year-over-year 12%
10%
8%
Atlanta Fed Wage Growth Tracker Consumer Price Index Labor Market Stats Unemployment Rate (Sept.) 3.8%
Peaked during COVID at 14.7%
Inflation exceeds
wage growth Excess Job Openings (Sept.) 3 mil.
For each unemployed worker, there are
approximately 1.5 job openings 6% Wage growth
exceeds inflation
4%
Nonfarm Payrolls (Sept.) 336,000
Although the pace has declined, the
economy continues to create jobs at
a healthy pace 2%
0%
2016 2017 2018 2019 2020 2021 2022 2023
Source: As of September 2023. St. Louis Federal Reserve Economic Data. Excess job openings refers to the difference in job openings, as reported by JOLTS, and the total number of unemployed workers as reported by the Bureau of Labor Statistics.
4 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Market Update
GDP Remains Surprisingly Robust
U.S. Real GDP
4%
3.0%
3% 2.7% 2.6%
2%
2.2% 2.1%
1%
0%
Average
economist
forecast
-1%
-2%
-3%
-0.6%
-2.0%
1Q '22 2Q '22 3Q '22 4Q '22 1Q '23 2Q '23
2Q ‘23
3Q '23
GDP Contributors 1Q ‘22
-2.0%
2Q ‘22
-0.6%
3Q ‘22
2.7%
4Q ‘22
2.6%
1Q ‘23
2.2% The U.S. Consumer has
been the backbone of
economic growth;
historically being the
largest contributor
Real GDP 2.1%
Personal Consumption
Private Investment
Net Exports
0.0%
1.2%
-2.6%
-0.5%
1.3%
-2.1%
0.6%
-0.3%
1.1%
-1.5%
2.6%
0.6%
0.8%
0.6%
0.3%
0.9%
2.5%
-1.7%
0.6%
0.8%
0.6%
0.9%
0.0%
Gov’t Expenditures 0.6%
Source: St. Louis Federal Reserve Economic Data, Bureau of Economic Analysis. Average economist forecast sourced from Bloomberg. 5 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Market Update
The Fed’s Projections for Growth and Employment Were More Upbeat Change in Real GDP Unemployment Rate
6%
5%
4%
3%
2%
1%
0%
3%
2%
1%
0%
June Projections
2.1%
September Projections June Projections September Projections
4.1% 4.1% 4.0% 4.0% 3.8% 1.8% 1.8% 1.8%
1.5%
2023 2024 2025 2026 Longer
Run
2023 2024 2025 2026 Longer
Run
PCE Inflation Federal Funds Rate
5%
June Projections September Projections 8%
6%
4%
2%
0%
June Projections September Projections
4%
3%
2%
1%
0%
3.3% 5.6%
5.1%
2.5%
2.2% 3.9%
2.9%
2.0% 2.0%
2.5%
2023 2024 2025 2026 Longer
Run 2023 2024 2025 2026 Longer
Run
Source: Federal Reserve, latest economic projections as of September 2023. 6 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Market Update
Interest Rates Are At Their Highest Levels Since 2006-07 U.S. Treasury Yield Curve
6.0%
5.45%
5.04%
5.0%
4.0%
3.0%
2.0%
1.0%
0.0%
4.61% 4.70% 4.57%
15 Year Range
September 30, 2023
June 30, 2023
3-Month 2-Year 5-Year 10-Year 30-Year
Maturity
Source: Bloomberg, as of September 30, 2023.
7 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Market Update
Sector Yield Spreads
Federal Agency Yield Spreads Corporate Notes A-AAA Yield Spreads
0.8%
0.6%
0.4%
0.2%
0.0%
1.2%
1.0%
0.8%
0.6%
0.4%
0.2%
0.0%
Bullet Callable
Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Mortgage-Backed Securities Yield Spreads Asset-Backed Securities AAA Yield Spreads
1.0% 1.5% Agency MBS Agency CMBS Index
0.8%
0.6%
0.4%
0.2%
0.0%
1.0%
0.5%
0.0%
Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Sep-22 Dec-22 Mar-23 Jun-23 Sep-23 Source: ICE BofAML 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of September 30, 2023. Spreads on ABS and MBS are option-adjusted spreads of 0-5 year indices based on weighted average life; spreads on agencies are relative to comparable maturity Treasuries.
CMBS is Commercial Mortgage-Backed Securities and represented by the ICE BofA Agency CMBS Index. 8 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Market Update
Fixed-Income Markets in Q3 2023
1-5 Year Indices
1-5 Year Indices Quarterly Returns 10-Year Average
2.5%
2.0%
1.5%
1.0%
0.5%
0.0%
2.5%
2.0%
1.5%
1.0%
2.17%
1.67%
1.41%
1.07%
0.83% 0.87%
0.57% 0.52%
0.5%
0.0%
0.30%
0.23%
Source: ICE BofAML Indices. ABS indices are 0-5 year, based on weighted average life. As of September 30, 2023. 9 © PFM Asset Management LLC | pfmam.com
Portfolio Review
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Snapshot
Portfolio Snapshot¹
Portfolio Statistics Sector Allocation
Total Market Value
Managed Account Sub-Total
Accrued Interest
$50,483,750.09
$50,158,301.78
$274,504.36
$50,943.95
U.S. Treasury | 42%
Corporate | 22%
Pool ABS | 10%
Agency CMBS | 10%
Federal Agency | 8%
Municipal | 3%
Supranational | 2%
Negotiable CD | 2%
JointPowers Authority | <1%
Portfolio Effective Duration
Benchmark Effective Duration
Yield At Cost
2.49 years
2.50 years
3.18%
Yield At Market 5.07%
Portfolio Credit Quality AA
Credit Quality - S&P Duration Distribution
Portfolio
35%
Benchmark
42%
AAA | 13%
50%
40%
30%
20%
10%
0%
AAAm | <1%
AA+ | 62%
AA| 4%
AA- | 4%
A+ | 2%
A | 4%
A- | 8%
BBB+ | 2%
Not Rated | 2%
27%
22% 21%
18%
13% 13%
4% 6%
0-1 Yr 1-2 Yrs 2-3 Yrs 3-4 Yrs 4-5 Yrs
1. Total market value includes accrued interest and balances invested in CAMP, as of September 30, 2023.
Yield and duration calculations exclude balances invested in CAMP.
The portfolio’s benchmark is the ICE BofA 1-5 Year U.S. Treasury Index. Source: Bloomberg.
An average of each security’s credit rating was assigned a numeric value and adjusted for its relative weighting in the portfolio. 10 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Account Summary
Sector Allocation Analytics
U.S. Treasury - $21,234,297 42.1%
Federal Agency - $4,025,393
Agency CMBS - $5,187,688
Supranational - $1,101,128
Municipal - $1,447,614
Negotiable CD - $929,986
Corporate - $11,295,474
ABS - $5,211,226
8.0%
10.3%
2.2%
2.9%
1.8%
22.4%
10.3%
Joint Powers Authority - $50,944 0.1%
0.0% 20.0% 40.0% 60.0% 80.0% 100.0%
Portf olio Allocation Sector Limit for Analysis*
For informational/analytical purposes only and is not provided for compliance assurance. Includes accrued interest. *Sector Limit for Analysis is as derived from our interpretation of your most recent Investment Policy as provided. 11 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Compliance
Certificate of Compliance
During the reporting period for the quarter ended September 30, 2023, the account(s) managed by PFM Asset Management ("PFMAM") were in compliance with the applicable investment policy and guidelines as furnished to PFMAM.
Acknowledged : PFM Asset Management LLC
Note: Pre- and post-trade compliance for the account(s) managed by PFM Asset Management is provided via Bloomberg Asset and Investment Management ("AIM"). 12 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Managed Portfolio Activity
Net Activity by Sector
($ millions)
Sector Net Activity
$3,345,545
$1,297,072
$283,402
Agency CMBS
Agency CMBS ABS
ABS
Corporate
Federal Agency
U.S. Treasury
Total Net Activity
($746,381)
($3,898,068)
$281,570
Corporate
Federal Agency
U.S. Treasury
($6.0) ($4.0) ($2.0) $0.0 $2.0 $4.0
Sales/Maturities Purchases
Based on total proceeds (principal and accrued interest) of buys, sells, maturities, and principal paydowns. Detail may not add to total due to rounding. 13 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Characteristics
Managed Portfolio Historical Sector Allocation
8% 10%
22%
2%
3%
2%
4%
22%
2%
3%
2%
9% 10%
8%
50%
42%
Only includes fixed-income securities held within the separately managed account(s) and LGIPs managed by PFMAM. 14 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Performance
Portfolio Performance
Portfolio Benchmark
3.0%
2.0%
1.0%
0.0%
-1.0%
-2.0%
3 Months 1 Year 3 Years 5 Years 10 Years
Market Value Basis Earnings 3 Months 1 Year 3 Years 5 Years 10 Years¹ Interest Earned²
Change in Market Value
Total Dollar Return
Total Return³
$287,083
($164,434)
$122,649
$855,343
$37,262
$1,752,423
($3,031,213)
($1,278,790)
$3,339,992
($890,195)
$2,449,797
$5,678,402
($1,644,439)
$892,605 $4,033,963
Portfolio 0.24%
0.23%
0.01%
2.49%
2.12%
0.37%
-1.49%
-1.76%
0.27%
1.17%
0.93%
0.23%
1.11%
0.83%
0.28%
Benchmark⁴
Difference
1. The lesser of 10 years or since inception is shown. Since inception returns for periods one year or less are not shown. Performance inception date is September 30, 2010.
2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.
3. Returns for periods one year or less are presented on a periodic basis. Returns for periods greater than one year are presented on an annualized basis.
4. The portfolio’s benchmark is the ICE BofA 1-5 Year U.S. Treasury Index. Source: Bloomberg. 15 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Performance
Quarterly Sector Performance
Total Return by Sector Contribution to Total Return
Price Returns Income Returns U.S. Treasury | 0.03%
Federal Agency | 0.08%
Agency CMBS | -0.05%
Supranational | 0.03%
Municipal | 0.02%
Negotiable CD | 0.03%
Commercial Paper | <0.01%
Corporate | 0.05%
ABS | 0.06%
-0.40%
0.45% Cash | 0.02% U.S. Treasury
Federal Agency
Agency CMBS
Supranational
Municipal
0.10%
0.83% 0.40%
0.30%
0.20%
0.10%
0.00%
-0.10%
- 0.84%
1.72 0.10%
1.12%
0.41%
0.28%
1.38%
Negotiable CD 0.06%
Commercial Paper
Corporate
0.00%
0.00%
0.74%
0.93%
-0.49%
ABS -0.18%
18.02%
Cash 0.00%
-4.0% 0.8% 5.6% 10.4% 15.2% 20.0%
Return Return
1. Performance on trade-date basis, gross (i.e., before fees), in accordance with the CFA Institute’s Global Investment Performance Standards (GIPS).
2. Income returns calculated as interest earned on investments during the period.
3. Price returns calculated as the change in market value of each security for the period.
4. Returns are presented on a periodic basis.
16 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Performance
Accrual Basis Earnings
Accrual Basis Earnings 3 Months 1 Year 3 Years 5 Year 10 Year¹ Interest Earned² $287,083
($209,864)
$109,325
$186,543
$855,343
($620,052)
$372,111
$607,403
$1,752,423
($540,043)
$236,220
$3,339,992
$31,670
$5,678,402
Realized Gains / (Losses)³ $89,032
Change in Amortized Cost
Total Earnings
$306,519
$3,678,181
$89,933
$1,448,600 $5,857,366
1. The lesser of 10 years or since inception is shown. Performance inception date is September 30, 2010.
2. Interest earned calculated as the ending accrued interest less beginning accrued interest, plus net interest activity.
3. Realized gains / (losses) are shown on an amortized cost basis. 17 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Market Update
Fixed-Income Sector Outlook – 4Q 2023
Sector Our Investment Preferences
C O M M E R C I A L PA P E R
/ C D
T R E A S U R I E S
T-Bill
T-Note
F E D E R A L A G E N C I E S
Bullets
Callables
S U P R A N AT I O N A L S
C O R P O R AT E S
Financials
Industrials
S E C U R I T I Z E D
Asset-Backed
Agency Mortgage-Backed
Agency CMBS
M U N I C I PA L S
Slightly
Negative
Slightly
Positive Current outlook Outlook one quarter ago Negative Neutral Positive 18 © PFM Asset Management LLC | pfmam.com
Issuer Distribution
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Summary
Issuer Diversification
Security Type / Issuer
U.S. Treasury
Market Value (%) S&P / Moody's / Fitch Security Type / Issuer Market Value (%) S&P / Moody's / Fitch
42.1% Negotiable CD 1.8%
UNITED STATES TREASURY 42.1% AA / Aaa / AA TORONTO-DOMINION BANK 0.9% A / A / NR Federal Agency 8.0% Corporate 22.4%
FANNIE MAE 3.1%
0.9%
4.0%
10.3%
AA / Aaa / AA
AA / Aaa / NR
AA / Aaa / AA
ABBOTT LABORATORIES
AMAZON.COM INC
0.4%
0.9%
0.7%
0.8%
1.4%
0.9%
0.9%
0.4%
0.7%
0.4%
0.8%
0.1%
0.4%
0.7%
0.4%
0.8%
0.0%
0.4%
0.9%
0.1%
1.4%
0.8%
1.4%
0.7%
AA / Aa / NR
AA / A / AA
BBB / A / A
A / A / A
FEDERAL HOME LOAN BANKS
FREDDIE MAC AMERICAN EXPRESS CO
AMERICAN HONDA FINANCE
APPLE INC
Agency CMBS
AA / Aaa / NR
A / A / AA
AA / Aa / A
A / A / NR
A / A / NR
A / A / A
FANNIE MAE
FREDDIE MAC
Supranational
1.0%
9.2%
2.2%
AA / Aaa / AA
AA / Aaa / AA BANK OF AMERICA CO
BERKSHIRE HATHAWAY INC
BMW FINANCIAL SERVICES NA LLC
BRISTOL-MYERS SQUIBB CO
CATERPILLAR INC
INTER-AMERICAN DEVELOPMENT BANK
INTL BANK OF RECONSTRUCTION AND DEV
Municipal
1.2%
1.0%
2.9%
AAA / Aaa / AAA
AAA / Aaa / AAA
CHARLES SCHWAB A / A / A
CALIFORNIA STATE UNIVERSITY 0.2%
0.2%
AA / Aa / NR
AA / Aa / NR
CINTAS CORPORATION NO. 2
CITIGROUP INC
A / A / NR
BBB / A / A
A / A / A
CHAFFEY JOINT UNION HIGH SCHOOL
DISTRICT
DEERE & COMPANY FLORIDA STATE BOARD OF ADMIN FIN CORP 0.6%
0.3%
AA / Aa / AA
GENERAL DYNAMICS CORP
GOLDMAN SACHS GROUP INC
HOME DEPOT INC
A / A / NR
BBB / A / A
A / A / A
LOS ANGELES COMMUNITY COLLEGE
DISTRICT
AA / Aaa / NR
NEW YORK ST URBAN DEVELOPMENT CORP
SAN JUAN UNIFIED SCHOOL DISTRICT
STATE OF CALIFORNIA
0.6%
0.2%
0.4%
0.1%
0.2%
0.2%
1.8%
NR / NR / AA
NR / Aa / NR
AA / Aa / AA
AA / Aa / AA
AAA / Aaa / AAA
AA / Aa / AA
IBM CORP A / A / NR
A / A / AA
A / A / A
JP MORGAN CHASE & CO
LOCKHEED MARTIN CORP
MICROSOFT CORP
STATE OF CONNECTICUT
STATE OF MINNESOTA AAA / Aaa / NR
UNIVERSITY OF CALIFORNIA A / A / A
Negotiable CD
MORGAN STANLEY
NATIONAL AUSTRALIA BANK LTD AA / Aa / NR
NORDEA BANK ABP 0.9% AA / Aa / AA NATIONAL RURAL UTILITIES CO FINANCE A / A / A CORP
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings, excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balances invested in overnight funds.
19 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Summary
Issuer Diversification
Security Type / Issuer
Corporate
Market Value (%) S&P / Moody's / Fitch Security Type / Issuer Market Value (%) S&P / Moody's / Fitch
22.4% ABS 10.3%
PACCAR FINANCIAL CORP
PNC FINANCIAL SERVICES GROUP
ROCHE HOLDINGS INC
TARGET CORP
0.3%
0.8%
0.8%
0.1%
0.2%
1.3%
A / A / NR
A / A / A
TOYOTA MOTOR CORP 0.8% AAA / NR / AAA
Total 100.0%
AA / Aa / AA
A / A / A
TEXAS INSTRUMENTS INC A / Aa / NR
THE BANK OF NEW YORK MELLON A / A / AA
CORPORATION
THE WALT DISNEY CORPORATION
TOYOTA MOTOR CORP
UNITEDHEALTH GROUP INC
USAA CAPITAL CORP
ABS
0.8%
0.7%
0.4%
0.4%
10.3%
A / A / A
A / A / A
A / A / A
AA / Aa / NR
AMERICAN EXPRESS CO 1.2%
0.3%
1.4%
0.5%
0.8%
1.7%
0.7%
0.3%
0.7%
AAA / NR / AAA
AAA / NR / AAA
AAA / NR / AAA
AAA / NR / AAA
AAA / NR / AAA
AAA / Aaa / AAA
AAA / Aaa / NR
AAA / NR / AAA
AAA / Aaa / AAA
BANK OF AMERICA CO
CAPITAL ONE FINANCIAL CORP
CARMAX AUTO OWNER TRUST
CHASE ISSURANCE
DISCOVER FINANCIAL SERVICES
FIFTH THIRD AUTO TRUST
FORD CREDIT AUTO OWNER TRUST
GM FINANCIAL CONSUMER AUTOMOBILE
TRUST
GM FINANCIAL LEASINGTRUST
HARLEY-DAVIDSON MOTORCYCLE TRUST
HONDA AUTO RECEIVABLES
0.0%
0.3%
0.8%
0.2%
0.6%
AAA / NR / AAA
NR / Aaa / AAA
AAA / Aaa / AAA
AAA / NR / AAA
AAA / Aaa / NR
HYUNDAI AUTO RECEIVABLES
NISSAN AUTO RECEIVABLES
Ratings shown are calculated by assigning a numeral value to each security rating, then calculating a weighted average rating for each security type / issuer category using all available security ratings, excluding Not-Rated (NR) ratings. For security type / issuer categories where a rating from the applicable NRSRO is not available, a rating of NR is assigned. Includes accrued interest and excludes balances invested in overnight funds.
20 © PFM Asset Management LLC | pfmam.com
Portfolio Transactions
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)
BUY
7/3/2023 7/7/2023 600,000.00
550,000.00
550,000.00
440,000.00
375,000.00
320,000.00
350,000.00
550,000.00
800,000.00
405,000.00
410,000.00
500,000.00
5,850,000.00
91282CFB2
3137HACX2
3136BQDE6
3137HAD45
24422EXB0
43815QAC1
31680EAD3
3137BXQY1
3137HAMH6
161571HT4
02582JKD1
3137HAMS2
US TREASURY N/B NOTES
FHMS K505 A2
2.75%
4.81%
4.19%
4.77%
4.95%
5.41%
5.53%
3.22%
4.65%
5.16%
5.23%
4.80%
7/31/2027
6/1/2028
7/1/2028
6/1/2028
7/14/2028
2/18/2028
8/15/2028
3/1/2027
8/1/2028
9/15/2028
9/15/2028
9/1/2028
572,796.71
556,892.25
542,596.20
441,507.02
378,432.19
319,934.02
349,978.30
519,642.03
789,508.93
404,887.73
409,981.67
495,823.50
5,781,980.55
4.30%
4.59%
4.58%
4.78%
4.78%
5.42%
5.53%
4.98%
4.99%
5.17%
5.23%
5.07%
7/13/2023
7/18/2023
7/19/2023
7/21/2023
8/15/2023
8/15/2023
8/16/2023
9/7/2023
7/20/2023
7/31/2023
7/27/2023
7/25/2023
8/22/2023
8/23/2023
8/18/2023
9/14/2023
9/15/2023
9/19/2023
9/28/2023
FNA 2023-M6 A2
FHMS KJ46 A1
JOHN DEERE CAPITAL CORP CORPORATE NOTES
HAROT 2023-3 A3
FITAT 2023-1 A3
FHMS K064 A2
FHMS K506 A2
9/7/2023 CHAIT 2023-A1 A
9/12/2023
9/20/2023
AMXCA 2023-3 A
FHMS K507 A2
Total BUY
INTEREST
7/1/2023
0.00 7/1/2023
7/1/2023
7/25/2023
60,000.00
310,000.00
250,000.00
20772KJW0
341271AD6
3137BGK24
CT ST TXBL GO BONDS 1.99%
1.25%
3.06%
7/1/2024
7/1/2025
12/1/2024
599.40
1,949.90
637.92
7/1/2023 FL ST BOARD OF ADMIN TXBL REV BONDS
7/1/2023 FHMS K043 A2
21 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)
INTEREST
7/1/2023 7/25/2023
7/25/2023
7/25/2023
7/25/2023
7/8/2023
275,000.00
550,000.00
380,000.00
550,000.00
400,000.00
225,000.00
375,000.00
210,000.00
224,608.57
130,000.00
140,000.00
80,000.00
3137BNGT5
3137F1G44
3137BTUM1
3137BSP72
38141EC23
14913R2U0
89236TKQ7
14318MAD1
89190GAC1
344928AD8
65480JAC4
44935FAD6
14314QAC8
254683CZ6
87612EBM7
891940AC2
254683CY9
FHMS K054 A2 2.74%
3.24%
3.34%
2.65%
3.85%
1.70%
4.62%
3.97%
0.26%
4.65%
4.46%
0.74%
0.52%
4.93%
1.95%
4.63%
4.31%
1/1/2026 629.06
7/1/2023 FHLMC MULTIFAMILY STRUCTURED P
FHMS K061 A2
4/1/2027 1,486.38
1,059.88
1,215.96
7,700.00
1,912.50
8,671.88
694.75
48.67 7/1/2023 11/1/2026
7/1/2023 FHMS K058 A2 8/1/2026
7/8/2023 GOLDMAN SACHS GROUP INC (CALLABLE) BONDS
CATERPILLAR FINL SERVICE CORPORATE NOTES
TOYOTA MOTOR CREDIT CORP CORPORATE NOTES
CARMX 2022-3 A3
7/8/2024
7/8/2023 7/8/2023 1/8/2027
7/12/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/12/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
1/12/2028
4/15/2027
11/17/2025
2/15/2028
5/17/2027
5/15/2026
2/17/2026
6/15/2028
1/15/2027
9/15/2027
3/15/2028
TAOT 2021-B A3
FORDO 2023-A A3 503.75
520.33
49.33 NAROT 2022-B A3
HART 2021-C A3
72,749.48 CARMX 2021-2 A3 31.52
350,000.00
40,000.00
DCENT 2023-A2 A 814.82
390.00
945.29
1,149.33
TARGET CORP CORP NOTES (CALLABLE)
245,000.00 TAOT 2023-A A3
320,000.00 DCENT 2023-A1 A
22 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)
INTEREST
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/16/2023
7/16/2023
7/20/2023
7/21/2023
7/21/2023
7/23/2023
7/26/2023
7/27/2023
7/31/2023
7/31/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/16/2023
7/16/2023
7/20/2023
7/21/2023
7/21/2023
7/23/2023
7/26/2023
7/27/2023
7/31/2023
7/31/2023
222,479.99
190,000.00
44,391.84
65480BAC1
02582JJZ4
44933LAC7
41285JAD0
254683CP8
14041NGB1
14041NGD7
362554AC1
36265QAD8
380144AD7
43815GAC3
3137EAEU9
693475AV7
06406RBA4
459200KS9
91282CCP4
91282CFB2
NAROT 2021-A A3 0.33%
4.87%
0.38%
5.05%
0.58%
4.95%
4.42%
0.68%
4.82%
0.41%
0.88%
0.37%
3.50%
2.05%
4.00%
0.62%
2.75%
10/15/2025
5/15/2028
9/15/2025
12/15/2027
9/15/2026
10/15/2027
5/15/2028
9/16/2026
8/16/2027
5/20/2025
1/21/2026
7/21/2025
1/23/2024
1/26/2027
7/27/2025
7/31/2026
7/31/2027
61.18 AMXCA 2023-1 A 796.79
HART 2021-A A3 14.06
170,000.00
195,000.00
245,000.00
490,000.00
85,000.00
HDMOT 2023-A A3 715.42
DCENT 2021-A1 A1 94.25
COMET 2022-A3 A 1,010.63
3,068.22
48.17 COMET 2023-A1 A
GMCAR 2021-4 A3
275,000.00
35,000.00
GMCAR 2022-4 A3 1,104.58
GMALT 2021-2 A4 11.96
100,000.00
425,000.00
400,000.00
475,000.00
225,000.00
3,800,000.00
2,600,000.00
HAROT 2021-4 A3 73.33
FREDDIE MAC NOTES
PNC BANK NA CORP NOTES (CALLABLE)
BANK OF NY MELLON CORP (CALLABLE) CORPOR
IBM CORP CORPORATE NOTES
US TREASURY N/B NOTES
US TREASURY N/B NOTES
796.88
7,000.00
4,868.75
4,500.00
11,875.00
35,750.00
23 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)
INTEREST
7/31/2023
8/1/2023
8/1/2023
8/1/2023
8/1/2023
8/1/2023
8/1/2023
8/1/2023
8/1/2023
8/1/2023
8/1/2023
8/1/2023
8/1/2023
8/1/2023
8/6/2023
8/6/2023
8/7/2023
7/31/2023
8/1/2023
8/1/2023
8/1/2023
8/1/2023
8/1/2023
8/25/2023
8/25/2023
8/25/2023
8/25/2023
8/25/2023
8/25/2023
8/25/2023
8/25/2023
8/6/2023
8/6/2023
8/7/2023
1,750,000.00
140,000.00
130,000.00
100,000.00
225,000.00
100,000.00
380,000.00
550,000.00
550,000.00
550,000.00
250,000.00
440,000.00
550,000.00
275,000.00
175,000.00
750,000.00
350,000.00
91282CDV0
54438CYK2
798306WP7
60412AVJ9
06051GFS3
157411TK5
3137BTUM1
3137BSP72
3137F1G44
3137HACX2
3137BGK24
3137HAD45
3136BQDE6
3137BNGT5
69371RQ66
594918BY9
637432NP6
US TREASURY N/B NOTES
LOS ANGELES CCD, CA TXBL GO BONDS
SAN JUAN USD, CA TXBL GO BONDS
MN ST TXBL GO BONDS
0.87%
0.77%
0.85%
0.63%
3.87%
2.10%
3.34%
2.65%
3.24%
4.81%
3.06%
4.77%
4.19%
2.74%
1.80%
3.30%
3.40%
1/31/2024
8/1/2025
8/1/2025
8/1/2025
8/1/2025
8/1/2024
11/1/2026
8/1/2026
4/1/2027
6/1/2028
12/1/2024
6/1/2028
7/1/2028
1/1/2026
2/6/2025
2/6/2027
2/7/2028
7,656.25
541.10
553.80
315.00
BANK OF AMERICA CORP NOTES
CHAFFEY UHSD, CA TXBL GO BONDS
FHMS K061 A2
4,359.38
1,050.50
1,059.88
1,215.96
1,486.38
2,208.71
637.92
FHMS K058 A2
FHLMC MULTIFAMILY STRUCTURED P
FHMS K505 A2
FHMS K043 A2
FHMS KJ46 A1 1,751.57
1,920.42
629.06
FNA 2023-M6 A2
FHMS K054 A2
PACCAR FINANCIAL CORP CORPORATE NOTES
MICROSOFT CORP CORP NOTES (CALLABLE)
NATIONAL RURAL UTIL COOP CORP NOTES (CAL
1,575.00
12,375.00
5,950.00
24 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)
INTEREST
8/12/2023
8/12/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/12/2023
8/12/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
175,000.00
70,000.00
05565EBW4
05565EBU8
254683CP8
41285JAD0
44935FAD6
14041NGB1
65480JAC4
882508BV5
254683CY9
65480BAC1
254683CZ6
14318MAD1
89190GAC1
344928AD8
14041NGD7
02582JJZ4
891940AC2
BMW US CAPITAL LLC (CALLABLE) CORPORATE
BMW US CAPITAL LLC CORPORATE NOTES
DCENT 2021-A1 A1
1.25%
0.75%
0.58%
5.05%
0.74%
4.95%
4.46%
4.60%
4.31%
0.33%
4.93%
3.97%
0.26%
4.65%
4.42%
4.87%
4.63%
8/12/2026
8/12/2024
9/15/2026
12/15/2027
5/15/2026
10/15/2027
5/17/2027
2/15/2028
3/15/2028
10/15/2025
6/15/2028
4/15/2027
11/17/2025
2/15/2028
5/15/2028
5/15/2028
9/15/2027
1,093.75
262.50
195,000.00 94.25
170,000.00
78,227.49
HDMOT 2023-A A3 715.42
HART 2021-C A3 48.24
245,000.00
140,000.00
85,000.00
COMET 2022-A3 A 1,010.63
520.33
1,955.00
1,149.33
56.63 NAROT 2022-B A3
TEXAS INSTRUMENTS INC CORP NOTE (CALLABL
320,000.00 DCENT 2023-A1 A
205,927.99
350,000.00
210,000.00
207,937.59
130,000.00
490,000.00
190,000.00
245,000.00
NAROT 2021-A A3
DCENT 2023-A2 A 1,437.92
694.75
45.05 CARMX 2022-3 A3
TAOT 2021-B A3
FORDO 2023-A A3 503.75
1,804.83
771.08
945.29
COMET 2023-A1 A
AMXCA 2023-1 A
TAOT 2023-A A3
25 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)
INTEREST
8/15/2023
8/15/2023
8/15/2023
8/16/2023
8/16/2023
8/20/2023
8/20/2023
8/21/2023
8/24/2023
8/25/2023
8/30/2023
9/1/2023
8/15/2023
8/15/2023
8/15/2023
8/16/2023
8/16/2023
8/20/2023
8/20/2023
8/21/2023
8/24/2023
8/25/2023
8/30/2023
9/1/2023
170,000.00
40,296.85
67,628.11
275,000.00
82,127.25
375,000.00
35,000.00
97,490.23
175,000.00
350,000.00
400,000.00
200,000.00
250,000.00
439,787.86
550,000.00
550,000.00
275,000.00
05522RDG0
44933LAC7
14314QAC8
36265QAD8
362554AC1
110122DE5
380144AD7
43815GAC3
46647PCV6
3135G05X7
254687FK7
13063D3N6
3137BGK24
3137HAD45
3137HACX2
3137F1G44
3137BNGT5
BACCT 2023-A1 A1 4.79%
0.38%
0.52%
4.82%
0.68%
3.90%
0.41%
0.88%
2.59%
0.37%
1.75%
4.84%
3.06%
4.77%
4.81%
3.24%
2.74%
5/15/2028
9/15/2025
2/17/2026
8/16/2027
9/16/2026
2/20/2028
5/20/2025
1/21/2026
2/24/2026
8/25/2025
8/30/2024
3/1/2027
1,334.55
HART 2021-A A3 12.76
CARMX 2021-2 A3 29.31
GMCAR 2022-4 A3 1,104.58
GMCAR 2021-4 A3 46.54
BRISTOL-MYERS SQUIBB CO CORP NOTES (CALL
GMALT 2021-2 A4
7,312.50
11.96 HAROT 2021-4 A3 71.49
JPMORGAN CHASE & CO CORP NOTES (CALLABLE
FANNIE MAE NOTES
2,270.63
656.25
3,500.00
4,469.09
637.92
1,750.72
2,208.71
1,486.38
629.06
WALT DISNEY COMPANY/THE (CALLABLE)
CA ST MUNICIPAL BONDS
9/1/2023 9/25/2023 FHMS K043 A2
9/25/2023
9/25/2023
9/25/2023
9/25/2023
12/1/2024
9/1/2023 FHMS KJ46 A1 6/1/2028
9/1/2023 FHMS K505 A2 6/1/2028
9/1/2023 FHLMC MULTIFAMILY STRUCTURED P
FHMS K054 A2
4/1/2027
9/1/2023 1/1/2026
26 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)
INTEREST
9/1/2023
9/1/2023
9/1/2023
9/1/2023
9/4/2023
9/4/2023
9/4/2023
9/10/2023
9/12/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/25/2023
9/25/2023
9/25/2023
9/25/2023
9/4/2023
380,000.00
550,000.00
550,000.00
550,000.00
150,000.00
80,000.00
3137BTUM1
3136BQDE6
3137BSP72
3137BXQY1
3130AK5E2
025816CQ0
025816CS6
771196BT8
037833DB3
44933LAC7
14041NGD7
344928AD8
02582JJZ4
31680EAD3
084664CZ2
41285JAD0
254683CZ6
FHMS K061 A2 3.34%
4.19%
2.65%
3.22%
0.37%
2.25%
2.55%
2.13%
2.90%
0.38%
4.42%
4.65%
4.87%
5.53%
2.30%
5.05%
4.93%
11/1/2026
7/1/2028
1,059.88
1,920.42
1,215.96
1,477.67
281.25
FNA 2023-M6 A2
FHMS K058 A2 8/1/2026
FHMS K064 A2 3/1/2027
FEDERAL HOME LOAN BANK NOTES
AMERICAN EXPRESS CO CORP NOTES (CALLABLE
AMERICAN EXPRESS CO CORP NOTES (CALLABLE
ROCHE HOLDINGS INC (CALLABLE) CORPORATE
APPLE INC (CALLABLE) BONDS
HART 2021-A A3
9/4/2025
9/4/2023 3/4/2025 900.00
9/4/2023 300,000.00
410,000.00
775,000.00
36,416.89
3/4/2027 3,825.00
4,370.60
11,237.50
11.53 9/10/2023
9/12/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
3/10/2025
9/12/2027
9/15/2025
5/15/2028
2/15/2028
5/15/2028
8/15/2028
3/15/2027
12/15/2027
6/15/2028
490,000.00
130,000.00
190,000.00
350,000.00
475,000.00
170,000.00
350,000.00
COMET 2023-A1 A 1,804.83
FORDO 2023-A A3 503.75
AMXCA 2023-1 A 771.08
FITAT 2023-1 A3 1,182.81
5,462.50
715.42
BERKSHIRE HATHAWAY CORP NOTES (CALLABLE)
HDMOT 2023-A A3
DCENT 2023-A2 A 1,437.92
27 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)
INTEREST
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/16/2023
9/16/2023
9/18/2023
9/18/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/16/2023
9/16/2023
9/18/2023
9/18/2023
325,000.00
245,000.00
62,788.50
650036DT0
891940AC2
14314QAC8
254683CY9
05522RDG0
002824BM1
89190GAC1
14041NGB1
65480BAC1
14318MAD1
254683CP8
44935FAD6
65480JAC4
36265QAD8
362554AC1
43815QAC1
808513BN4
NY ST URBAN DEV CORP TXBL REV BONDS
TAOT 2023-A A3
0.87%
4.63%
0.52%
4.31%
4.79%
3.87%
0.26%
4.95%
0.33%
3.97%
0.58%
0.74%
4.46%
4.82%
0.68%
5.41%
0.75%
3/15/2025
9/15/2027
2/17/2026
3/15/2028
5/15/2028
9/15/2025
11/17/2025
10/15/2027
10/15/2025
4/15/2027
9/15/2026
5/15/2026
5/17/2027
8/16/2027
9/16/2026
2/18/2028
3/18/2024
1,413.75
945.29
CARMX 2021-2 A3 27.21
320,000.00
170,000.00
225,000.00
192,217.77
245,000.00
190,326.75
210,000.00
195,000.00
73,374.84
DCENT 2023-A1 A 1,149.33
678.58
4,359.38
41.65 BACCT 2023-A1 A1
ABBOTT LABORATORIES CORPORATE NOTES (CAL
TAOT 2021-B A3
COMET 2022-A3 A 1,010.63
NAROT 2021-A A3 52.34
CARMX 2022-3 A3 694.75
DCENT 2021-A1 A1 94.25
HART 2021-C A3 45.25
140,000.00
275,000.00
77,749.47
NAROT 2022-B A3 520.33
1,104.58
44.06 GMCAR 2022-4 A3
GMCAR 2021-4 A3
320,000.00
105,000.00
HAROT 2023-3 A3 1,250.31
CHARLES SCHWAB CORP NOTES (CALLABLE) 393.75
28 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)
INTEREST
9/20/2023
9/21/2023
9/23/2023
9/23/2023
9/20/2023
9/21/2023
9/23/2023
9/23/2023
22,615.32
91,588.31
380144AD7
43815GAC3
4581X0DZ8
3137EAEX3
GMALT 2021-2 A4 0.41%
0.88%
0.50%
0.37%
5/20/2025
1/21/2026
9/23/2024
9/23/2025
7.73 HAROT 2021-4 A3 67.16
635,000.00 1,587.50
700,000.00
41,025,731.10
INTER-AMERICAN DEVEL BK NOTES
FREDDIE MAC NOTES 1,312.50
Total INTEREST
MATURITY
243,705.47 0.00
9/8/2023 9/8/2023 250,000.00 3137EAEW5 FREDDIE MAC NOTES 0.25% 9/8/2023 250,312.50 Total MATURITY
PAYDOWNS
250,000.00 250,312.50 0.00
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/16/2023
7/21/2023
8/1/2023
7/15/2023 4,094.99
16,552.00
16,670.98
5,121.37
1,772.51
2,872.75
2,509.77
212.14
44933LAC7
65480BAC1
89190GAC1
14314QAC8
44935FAD6
362554AC1
43815GAC3
3137HAD45
HART 2021-A A3
NAROT 2021-A A3
TAOT 2021-B A3
CARMX 2021-2 A3
HART 2021-C A3
GMCAR 2021-4 A3
HAROT 2021-4 A3
FHMS KJ46 A1
0.38%
0.33%
0.26%
0.52%
0.74%
0.68%
0.88%
4.77%
9/15/2025
10/15/2025
11/17/2025
2/17/2026
5/15/2026
9/16/2026
1/21/2026
6/1/2028
4,094.99
16,552.00
16,670.98
5,121.37
1,772.51
2,872.75
2,509.77
212.14
7/15/2023
7/15/2023
7/15/2023
7/15/2023
7/16/2023
7/21/2023
8/25/2023
29 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)
PAYDOWNS
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/16/2023
8/20/2023
8/21/2023
9/1/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/15/2023
8/16/2023
8/20/2023
8/21/2023
9/25/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/16/2023
9/20/2023
15,719.82
4,852.65
3,879.96
15,601.24
4,839.61
4,377.78
12,384.68
5,901.92
213.27
89190GAC1
44935FAD6
44933LAC7
65480BAC1
14314QAC8
362554AC1
380144AD7
43815GAC3
3137HAD45
14314QAC8
89190GAC1
44935FAD6
44933LAC7
65480BAC1
362554AC1
380144AD7
TAOT 2021-B A3
HART 2021-C A3
HART 2021-A A3
NAROT 2021-A A3
CARMX 2021-2 A3
GMCAR 2021-4 A3
GMALT 2021-2 A4
HAROT 2021-4 A3
FHMS KJ46 A1
0.26%
0.74%
0.38%
0.33%
0.52%
0.68%
0.41%
0.88%
4.77%
0.52%
0.26%
0.74%
0.38%
0.33%
0.68%
0.41%
11/17/2025
5/15/2026
9/15/2025
10/15/2025
2/17/2026
9/16/2026
5/20/2025
1/21/2026
6/1/2028
15,719.82
4,852.65
3,879.96
15,601.24
4,839.61
4,377.78
12,384.68
5,901.92
213.27
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/15/2023
9/16/2023
9/20/2023
5,154.12
16,156.71
4,825.45
3,833.43
15,546.14
4,457.80
14,709.65
CARMX 2021-2 A3
TAOT 2021-B A3
HART 2021-C A3
HART 2021-A A3
NAROT 2021-A A3
GMCAR 2021-4 A3
GMALT 2021-2 A4
2/17/2026
11/17/2025
5/15/2026
9/15/2025
10/15/2025
9/16/2026
5/20/2025
5,154.12
16,156.71
4,825.45
3,833.43
15,546.14
4,457.80
14,709.65
30 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)
PAYDOWNS
9/21/2023 9/21/2023 5,874.39 43815GAC3 HAROT 2021-4 A3 0.88% 1/21/2026 5,874.39 Total PAYDOWNS
SELL
188,135.13 188,135.13 0.00
7/3/2023 7/7/2023 225,000.00
275,000.00
350,000.00
150,000.00
125,000.00
550,000.00
300,000.00
100,000.00
300,000.00
325,000.00
275,000.00
325,000.00
200,000.00
500,000.00
3137EAEW5
3137EAEW5
91282CBC4
91282CBC4
91282CBC4
91282CDV0
91282CDV0
24422EVU0
91282CDV0
91282CBC4
91282CBC4
91282CDV0
91282CDV0
91282CDV0
FREDDIE MAC NOTES 0.25%
0.25%
0.37%
0.37%
0.37%
0.87%
0.87%
0.62%
0.87%
0.37%
0.37%
0.87%
0.87%
0.87%
9/8/2023 223,230.69
272,837.50
317,737.34
136,173.15
113,477.63
539,930.00
294,537.96
95,030.38
-1,957.61
-2,384.55
-29,575.68
-12,247.04
-10,955.75
-1,884.44
-1,034.62
-5,179.51
-1,098.19
-29,963.60
-24,645.99
-1,060.27
-652.48
7/3/2023 7/7/2023 FREDDIE MAC NOTES 9/8/2023
7/13/2023
7/13/2023
7/13/2023
7/18/2023
7/19/2023
7/21/2023
7/21/2023
8/15/2023
8/15/2023
8/16/2023
8/16/2023
9/7/2023
7/20/2023
7/20/2023
7/20/2023
7/25/2023
7/26/2023
7/25/2023
7/25/2023
8/22/2023
8/22/2023
8/18/2023
8/18/2023
9/14/2023
US TREASURY NOTES 12/31/2025
12/31/2025
12/31/2025
1/31/2024
1/31/2024
9/10/2024
1/31/2024
12/31/2025
12/31/2025
1/31/2024
1/31/2024
1/31/2024
US TREASURY NOTES
US TREASURY NOTES
US TREASURY N/B NOTES
US TREASURY N/B NOTES
JOHN DEERE CAPITAL CORP CORPORATE NOTES
US TREASURY N/B NOTES
US TREASURY NOTES
294,436.96
293,729.24
248,540.12
318,651.80
196,093.41
492,097.49
US TREASURY NOTES
US TREASURY N/B NOTES
US TREASURY N/B NOTES
US TREASURY N/B NOTES -1,446.24
31 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Quarterly Portfolio Transactions
Trade
Date
Settle
Date
Maturity
Date
Transact
Amount ($)
Yield
at Market
Realized
Par ($) CUSIP Security Description Coupon G/L (BV)
SELL
9/8/2023 9/15/2023
9/19/2023
9/27/2023
9/27/2023
325,000.00
450,000.00
100,000.00
450,000.00
5,325,000.00
91282CDV0
91282CBC4
91282CBC4
91282CBC4
US TREASURY N/B NOTES
US TREASURY NOTES
US TREASURY NOTES
US TREASURY NOTES
0.87%
0.37%
0.37%
0.37%
1/31/2024
12/31/2025
12/31/2025
12/31/2025
319,934.57
407,533.54
90,543.82
-909.27
9/12/2023
9/20/2023
9/20/2023
Total SELL
-39,730.98
-8,863.07
407,447.18
5,061,962.78
-36,275.07
-209,864.36
32 © PFM Asset Management LLC | pfmam.com
Portfolio Holdings
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Holdings
Managed Account Detail of Securities Held
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
U.S. Treasury
US TREASURY N/B NOTES
DTD 01/31/2022 0.875% 01/31/2024
91282CDV0
912828YY0
912828ZW3
91282CBC4
91282CBC4
91282CBW0
91282CBW0
91282CCP4
91282CCP4
91282CCP4
91282CCP4
91282CCP4
91282CCP4
912828U24
912828U24
400,000.00
400,000.00
150,000.00
400,000.00
200,000.00
75,000.00
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
1/13/2023 1/17/2023 384,750.00 4.68
427,531.25 0.18
147,093.75 0.72
387,968.75 1.13
194,539.06 1.05
71,458.01 1.92
926,843.75 1.33
690,468.75 2.74
179,007.81 3.53
819,562.50 3.04
732,343.75 2.84
819,035.16 2.94
226,250.00 3.03
1,954,066.41 3.92
907,092.77 3.96
589.67 395,091.03
407,829.36
148,801.43
393,344.76
197,042.89
72,827.76
394,062.48
382,625.00
137,835.93
361,500.00
180,750.00
67,558.59
US TREASURY NOTES
DTD 12/31/2019 1.750% 12/31/2024
8/5/2020
4/1/2021
8/7/2020
4/5/2021
1,769.02
US TREASURY NOTES 94.77
DTD 06/30/2020 0.250% 06/30/2025
US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
12/2/2021 12/6/2021
11/2/2021 11/4/2021
2/10/2022 2/14/2022
379.07
189.54
235.39
2,981.66
789.74
210.60
947.69
842.39
947.69
263.25
15,864.13
7,365.49
US TREASURY NOTES
DTD 12/31/2020 0.375% 12/31/2025
US TREASURY N/B NOTES
DTD 04/30/2021 0.750% 04/30/2026
US TREASURY N/B NOTES
DTD 04/30/2021 0.750% 04/30/2026
950,000.00
750,000.00
200,000.00
900,000.00
800,000.00
900,000.00
250,000.00
2,100,000.00
975,000.00
1/4/2022
8/1/2022
9/1/2022
1/6/2022
8/4/2022
9/6/2022
936,150.36
707,752.02
184,757.08
842,481.07
752,859.46
844,777.28
234,135.98
1,984,287.54
920,009.12
855,742.14
667,500.00
178,000.00
801,000.00
712,000.00
801,000.00
222,500.00
1,931,343.75
896,695.31
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
8/8/2022 8/15/2022
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
7/5/2022
6/2/2022
5/3/2022
7/8/2022
6/6/2022
5/5/2022
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY N/B NOTES
DTD 07/31/2021 0.625% 07/31/2026
US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
12/5/2022 12/7/2022
US TREASURY NOTES 1/4/2023 1/6/2023
DTD 11/15/2016 2.000% 11/15/2026
33 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
U.S. Treasury
US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
912828U24
912828U24
91282CEN7
91282CFB2
91282CFB2
91282CFB2
91282CFB2
250,000.00
9,500,000.00
1,200,000.00
600,000.00
AA+
AA+
AA+
AA+
AA+
AA+
AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
11/1/2022 11/4/2022
1/13/2023 1/17/2023
1/31/2023 2/3/2023
228,144.53 4.39
8,922,578.13 3.72
1,155,421.88 3.70
565,640.63 4.30
746,531.25 4.44
362,329.10 3.62
786,779.30 3.97
21,635,436.54 3.44
1,888.59
71,766.30
13,809.78
2,779.89
233,059.04
9,028,727.93
1,162,337.68
567,630.47
229,921.88
8,737,031.25
1,122,187.44
558,937.50
US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
US TREASURY N/B NOTES
DTD 04/30/2022 2.750% 04/30/2027
US TREASURY N/B NOTES
DTD 07/31/2022 2.750% 07/31/2027
7/3/2023
3/2/2023
5/1/2023
6/2/2023
7/7/2023
3/6/2023
5/5/2023
6/6/2023
US TREASURY N/B NOTES
DTD 07/31/2022 2.750% 07/31/2027
800,000.00 3,706.52 753,480.86 745,250.00
US TREASURY N/B NOTES
DTD 07/31/2022 2.750% 07/31/2027
375,000.00 1,737.43 363,548.72 349,335.94
US TREASURY N/B NOTES
DTD 07/31/2022 2.750% 07/31/2027
825,000.00 3,822.35 789,729.05 768,539.06
Security Type Sub-Total
Supranational
23,000,000.00 132,980.96 21,920,660.89 21,101,316.27
INTL BK RECON & DEVELOP NOTES
DTD 11/24/2020 0.250% 11/24/2023
459058JM6
4581X0DZ8
500,000.00
635,000.00
AAA
AAA
Aaa 11/17/2020 11/24/2020 498,925.00 0.32
634,530.10 0.52
1,133,455.10 0.43
440.97
70.56 499,946.99
634,846.51
496,250.00
INTER-AMERICAN DEVEL BK NOTES 604,366.33
DTD 09/23/2021 0.500% 09/23/2024
Aaa 9/15/2021 9/23/2021
Security Type Sub-Total 1,135,000.00 511.53 1,134,793.50 1,100,616.33 Negotiable CD
TORONTO DOMINION BANK NY CERT 89115B6K1
DEPOS
DTD 10/31/2022 5.600% 10/27/2025
450,000.00
450,000.00
900,000.00
A A1 10/27/2022 10/31/2022
11/2/2022 11/3/2022
450,000.00 5.58
450,000.00 5.53
900,000.00 5.56
23,450.00
10,230.50
33,680.50
450,000.00
450,000.00
900,000.00
449,850.11
446,455.35
896,305.46
NORDEA BANK ABP NEW YORK CERT 65558UYF3
DEPOS
DTD 11/03/2022 5.530% 11/03/2025
AA- Aa3
Security Type Sub-Total
34 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
Municipal
CT ST TXBL GO BONDS
DTD 06/11/2020 1.998% 07/01/2024
20772KJW0 60,000.00
100,000.00
325,000.00
AAAANRAa3
Aa1
NR
5/29/2020 6/11/2020
11/6/2019 12/5/2019
12/16/2020 12/23/2020
60,000.00 2.00
100,000.00 2.10
325,000.00 0.87
299.70 60,000.00
100,000.00
325,000.00
58,493.40
97,269.00
302,487.25
CHAFFEY UHSD, CA TXBL GO BONDS 157411TK5
DTD 12/05/2019 2.101% 08/01/2024
350.17
NY ST URBAN DEV CORP TXBL REV 125.67
BONDS
650036DT0
DTD 12/23/2020 0.870% 03/15/2025
UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7
341271AD6
85,000.00 AA
AA
Aa2
Aa3
7/10/2020 7/16/2020
9/3/2020 9/16/2020
85,000.00 0.88
160,000.00 1.26
283.54
503.20
85,000.00 79,293.10
FL ST BOARD OF ADMIN TXBL REV
BONDS
160,000.00 160,000.00 148,702.40
DTD 09/16/2020 1.258% 07/01/2025
FL ST BOARD OF ADMIN TXBL REV
BONDS
DTD 09/16/2020 1.258% 07/01/2025
341271AD6
341271AD6
85,000.00
65,000.00
AA
AA
Aa3
Aa3
9/3/2020 9/16/2020
9/3/2020 9/16/2020
85,563.55 1.12
65,459.55 1.11
267.32
204.42
85,205.89
65,167.90
78,998.15
FL ST BOARD OF ADMIN TXBL REV 60,410.35
BONDS
DTD 09/16/2020 1.258% 07/01/2025
SAN JUAN USD, CA TXBL GO BONDS 798306WP7
DTD 10/29/2020 0.852% 08/01/2025
130,000.00
140,000.00
NR Aa2 10/16/2020 10/29/2020
Aaa 10/30/2020 11/10/2020
130,000.00 0.85
140,000.00 0.77
184.60
180.37
130,000.00
140,000.00
120,195.40
LOS ANGELES CCD, CA TXBL GO 129,381.00
BONDS
54438CYK2 AA+
DTD 11/10/2020 0.773% 08/01/2025
MN ST TXBL GO BONDS
DTD 08/25/2020 0.630% 08/01/2025
60412AVJ9
13077DQD7
13063D3N6
100,000.00
85,000.00
AAA
AAAAAaaAa2
Aa2
8/11/2020 8/25/2020
7/9/2021 7/29/2021
3/9/2023 3/15/2023
100,000.00 0.63
85,000.00 0.86
105.00
305.29
100,000.00
85,000.00
92,045.00
CA ST UNIV TXBL REV BONDS 77,511.50
DTD 07/29/2021 0.862% 11/01/2025
CA ST MUNICIPAL BONDS
DTD 03/15/2023 4.846% 03/01/2027
200,000.00
1,535,000.00
200,000.00 4.85
1,536,023.10 1.59
807.67 200,000.00
1,535,373.79
199,210.00
Security Type Sub-Total 3,616.95 1,443,996.55
35 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
Joint Powers Authority
CAMP Pool 50,943.95 AAAm NR 50,943.95
50,943.95
0.00 50,943.95 50,943.95
Security Type Sub-Total 50,943.95 0.00 50,943.95 50,943.95 Federal Agency
FREDDIE MAC NOTES
DTD 10/16/2020 0.125% 10/16/2023
3137EAEY1
3137EAEZ8
3135G06H1
3137EAFA2
3130AJHU6
3135G03U5
3137EAEU9
3135G05X7
3130AK5E2
3137EAEX3
3135G06G3
325,000.00
350,000.00
325,000.00
300,000.00
350,000.00
350,000.00
425,000.00
350,000.00
150,000.00
700,000.00
650,000.00
4,275,000.00
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
Aaa 10/14/2020 10/16/2020 323,787.75 0.25
349,685.00 0.28
324,629.50 0.29
299,703.00 0.28
348,264.00 0.60
349,279.00 0.67
422,883.50 0.48
348,362.00 0.47
149,550.00 0.44
697,893.00 0.44
647,673.00 0.57
4,261,709.75 0.44
186.20
352.43
279.86
243.75
811.81
966.15
309.90
131.25
42.19 324,983.39
349,989.65
324,980.75
299,982.64
349,466.07
349,775.08
424,235.32
349,376.77
149,825.84
699,164.82
649,018.60
4,270,798.93
324,319.45
348,282.55
322,413.98
297,312.90
325,665.55
325,922.10
390,072.65
319,979.10
137,126.40
638,355.90
591,260.80
4,020,711.38
FREDDIE MAC NOTES
DTD 11/05/2020 0.250% 11/06/2023
Aaa 11/3/2020 11/5/2020
FANNIE MAE NOTES
DTD 11/25/2020 0.250% 11/27/2023
Aaa 11/23/2020 11/25/2020
FREDDIE MAC NOTES
DTD 12/04/2020 0.250% 12/04/2023
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
12/2/2020 12/4/2020
4/15/2020 4/16/2020
4/22/2020 4/24/2020
7/21/2020 7/23/2020
8/25/2020 8/27/2020
9/10/2020 9/11/2020
9/23/2020 9/25/2020
11/9/2020 11/12/2020
FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025
FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
FANNIE MAE NOTES
DTD 08/27/2020 0.375% 08/25/2025
FEDERAL HOME LOAN BANK NOTES
DTD 09/11/2020 0.375% 09/04/2025
FREDDIE MAC NOTES
DTD 09/25/2020 0.375% 09/23/2025
58.33 FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
1,300.00
Security Type Sub-Total 4,681.87
36 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
Corporate
PNC BANK NA CORP NOTES
(CALLABLE)
DTD 01/23/2019 3.500% 01/23/2024
693475AV7
808513BN4
06406RAS6
400,000.00
105,000.00
210,000.00
AAAA3
A2
A1
2/12/2019 2/15/2019
3/16/2021 3/18/2021
4/19/2021 4/26/2021
402,848.00 3.34
104,947.50 0.77
209,775.30 0.54
2,644.44
28.44 400,133.40
104,991.90
209,957.36
396,635.20
102,519.48
203,806.89
CHARLES SCHWAB CORP NOTES
(CALLABLE)
DTD 03/18/2021 0.750% 03/18/2024
BANK OF NY MELLON CORP NOTES
(CALLABLE)
452.08
DTD 04/26/2021 0.500% 04/26/2024
MORGAN STANLEY CORP NOTES
DTD 04/28/2014 3.875% 04/29/2024
61746BDQ6
02665WCZ2
400,000.00
400,000.00
AAA1
A3
7/19/2019 7/23/2019
7/11/2019 7/15/2019
422,916.00 2.59
398,016.00 2.51
6,544.44
2,506.67
402,775.70
399,703.88
395,024.00
AMERICAN HONDA FINANCE CORP 389,955.60
NOTE
DTD 06/27/2019 2.400% 06/27/2024
GOLDMAN SACHS GROUP INC
(CALLABLE) BONDS
DTD 07/08/2014 3.850% 07/08/2024
38141EC23
05565EBU8
254687FK7
69371RQ66
025816CQ0
771196BT8
437076CM2
400,000.00
70,000.00
400,000.00
175,000.00
80,000.00
410,000.00
25,000.00
BBB+
A
A2
A2
A2
A1
A2
Aa2
A2
7/8/2019 7/11/2019
8/9/2021 8/12/2021
418,632.00 2.84
69,993.70 0.75
398,368.00 1.84
182,894.25 0.73
79,919.20 2.29
410,000.00 2.13
24,956.25 2.76
3,550.56
71.46 402,042.75
69,998.18
399,700.50
177,498.24
79,961.66
410,000.00
24,977.93
393,531.60
67,029.20
386,226.80
166,415.38
76,009.76
391,038.73
24,018.83
BMW US CAPITAL LLC CORPORATE
NOTES
DTD 08/12/2021 0.750% 08/12/2024
WALT DISNEY COMPANY/THE
(CALLABLE)
DTD 09/06/2019 1.750% 08/30/2024
A- 9/3/2019 9/6/2019 602.78
481.25
135.00
509.90
311.25
PACCAR FINANCIAL CORP
CORPORATE NOTES
DTD 02/06/2020 1.800% 02/06/2025
A+ 10/22/2020 10/29/2020
AMERICAN EXPRESS CO CORP
NOTES (CALLABLE
DTD 03/04/2022 2.250% 03/04/2025
BBB+
AA
A
3/1/2022 3/4/2022
ROCHE HOLDINGS INC (CALLABLE)
CORPORATE
DTD 03/10/2022 2.132% 03/10/2025
3/3/2022 3/10/2022
HOME DEPOT INC (CALLABLE) 3/24/2022 3/28/2022
CORPORATE NOTE
DTD 03/28/2022 2.700% 04/15/2025
37 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
Corporate
CITIGROUP INC CORP NOTES
DTD 04/27/2015 3.300% 04/27/2025
172967JP7
90327QD89
225,000.00
225,000.00
BBB+
AA
A3 8/28/2020 9/1/2020
5/23/2022 5/26/2022
249,738.75 0.88
224,264.25 3.49
3,176.25
3,164.06
233,357.88
224,602.93
216,226.35
USAA CAPITAL CORP CORPORATE 216,345.83
NOTES
Aa1
DTD 05/26/2022 3.375% 05/01/2025
CINTAS CORPORATION NO. 2 CORP
NOTE (CALL
DTD 05/03/2022 3.450% 05/01/2025
17252MAP5
369550BG2
65,000.00
225,000.00
315,000.00
475,000.00
250,000.00
50,000.00
AAA3
A3
4/26/2022 5/3/2022
10/16/2020 10/20/2020
5/24/2021 6/1/2021
64,985.70 3.46
252,247.50 0.80
315,000.00 0.82
474,767.25 0.81
250,000.00 3.50
49,986.50 3.46
934.38
2,975.00
865.20
64,992.44
234,003.37
315,000.00
474,922.03
250,000.00
49,992.61
62,855.52
217,957.95
304,504.83
439,967.80
241,655.75
48,161.00
GENERAL DYNAMICS CORP
(CALLABLE) CORP NO
DTD 05/11/2018 3.500% 05/15/2025
JPMORGAN CHASE & CO (CALLABLE) 46647PCH7
CORP NOTE
DTD 06/01/2021 0.824% 06/01/2025
A- A1
AMAZON INC CORP NOTES
(CALLABLE)
DTD 06/03/2020 0.800% 06/03/2025
023135BQ8
63254ABD9
63743HFE7
AA
AAAA1 6/3/2020 6/5/2020 1,245.562,722.22
507.92
NATIONAL AUSTRALIA BK/NY
CORPORATE NOTES
DTD 06/09/2022 3.500% 06/09/2025
Aa3
A2
5/31/2022 6/9/2022
NATIONAL RURAL UTIL COOP 4/27/2022 5/4/2022
CORPORATE NOTES
DTD 05/04/2022 3.450% 06/15/2025
IBM CORP CORPORATE NOTES
DTD 07/27/2022 4.000% 07/27/2025
459200KS9
06051GFS3
002824BM1
225,000.00
225,000.00
225,000.00
AAA3
A1
7/20/2022 7/27/2022
8/18/2020 8/20/2020
9/24/2020 9/28/2020
225,000.00 4.00
256,918.50 0.93
257,845.50 0.86
1,600.00
1,453.13
387.50
225,000.00
236,834.75
236,890.03
218,854.35
218,050.88
218,228.40
BANK OF AMERICA CORP NOTES
DTD 07/30/2015 3.875% 08/01/2025
ABBOTT LABORATORIES AA- Aa3
CORPORATE NOTES (CAL
DTD 03/22/2017 3.875% 09/15/2025
BANK OF AMERICA CORP NOTES
(CALLABLE)
DTD 12/06/2021 1.530% 12/06/2025
06051GKE8
46647PCV6
225,000.00
175,000.00
AAA1
A1
12/1/2021 12/6/2021
2/16/2022 2/24/2022
225,000.00 1.53
175,000.00 2.60
1,099.69
466.74
225,000.00
175,000.00
212,653.58
JPMORGAN CHASE & CO CORP 166,668.60
NOTES (CALLABLE
DTD 02/24/2022 2.595% 02/24/2026
38 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
Corporate
UNITEDHEALTH GROUP INC
(CALLABLE) CORPOR
DTD 05/19/2021 1.150% 05/15/2026
91324PEC2
05565EBW4
14913R2U0
87612EBM7
06406RBA4
594918BY9
025816CS6
225,000.00
175,000.00
225,000.00
40,000.00
A+
A
A2
A2
5/17/2021 5/19/2021
8/12/2021 8/16/2021
1/11/2022 1/13/2022
1/19/2022 1/24/2022
1/26/2022 1/28/2022
3/14/2023 3/17/2023
1/13/2023 1/18/2023
3/15/2022 3/17/2022
2/17/2023 2/22/2023
1/13/2023 1/18/2023
224,608.50 1.19
174,947.50 1.26
223,863.75 1.81
39,932.00 1.99
473,945.50 2.10
721,942.50 4.36
277,203.00 4.59
466,089.00 2.70
284,925.00 4.66
488,325.00 4.50
977.50 224,794.37
174,969.86
224,254.36
39,955.02
202,424.63
155,733.55
201,453.30
36,091.12
BMW US CAPITAL LLC (CALLABLE)
CORPORATE
DTD 08/12/2021 1.250% 08/12/2026
297.74
CATERPILLAR FINL SERVICE 881.88
CORPORATE NOTES
DTD 01/10/2022 1.700% 01/08/2027
A A2
TARGET CORP CORP NOTES
(CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
A A2 164.67
BANK OF NY MELLON CORP
(CALLABLE) CORPOR
DTD 01/26/2022 2.050% 01/26/2027
475,000.00
750,000.00
300,000.00
475,000.00
300,000.00
500,000.00
A A1 1,758.16
3,781.25
573.75
474,298.73
725,849.24
281,078.19
468,839.49
287,147.53
490,189.50
424,572.10
711,781.50
271,137.90
433,812.75
275,009.70
470,544.50
MICROSOFT CORP CORP NOTES
(CALLABLE)
DTD 02/06/2017 3.300% 02/06/2027
AAA
BBB+
AA
AAaa
AMERICAN EXPRESS CO CORP A2
NOTES (CALLABLE
DTD 03/04/2022 2.550% 03/04/2027
BERKSHIRE HATHAWAY CORP NOTES 084664CZ2
(CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027
Aa2
A2
485.56
CHARLES SCHWAB CORP NOTES
(CALLABLE)
DTD 09/24/2021 3.300% 04/01/2027
808513BW4
63254ABE7
4,950.00
NATIONAL AUSTRALIA BK/NY 6,074.44
CORPORATE NOTES
AA- Aa3
DTD 06/09/2022 3.905% 06/09/2027
APPLE INC (CALLABLE) BONDS
DTD 09/12/2017 2.900% 09/12/2027
037833DB3
89236TKQ7
775,000.00
375,000.00
AA+
A+
Aaa
A1
1/19/2023 1/23/2023
2/8/2023 2/10/2023
741,062.75 3.94
376,282.50 4.55
1,186.18
3,805.99
746,094.20
376,116.21
714,374.08
TOYOTA MOTOR CREDIT CORP 365,781.00
CORPORATE NOTES
DTD 01/12/2023 4.625% 01/12/2028
39 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
Corporate
NATIONAL RURAL UTIL COOP CORP
NOTES (CAL
DTD 02/07/2018 3.400% 02/07/2028
637432NP6
882508BV5
110122DE5
539830BZ1
24422EXB0
350,000.00
85,000.00
AA+
A+
AA
A1
Aa3
A2
2/17/2023 2/22/2023
5/11/2023 5/18/2023
3/9/2023 3/13/2023
5/23/2023 5/25/2023
7/21/2023 7/25/2023
329,189.00 4.76
87,043.40 4.04
1,785.00
499.61
331,728.61
86,880.22
322,859.25
TEXAS INSTRUMENTS INC CORP 83,239.06
NOTE (CALLABL
DTD 11/18/2022 4.600% 02/15/2028
BRISTOL-MYERS SQUIBB CO CORP
NOTES (CALL
DTD 07/15/2020 3.900% 02/20/2028
375,000.00
60,000.00
358,263.75 4.93
59,892.00 4.49
1,665.63
934.50
360,136.73
59,899.67
352,721.63
LOCKHEED MARTIN CORP NOTES 57,955.26
(CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
A2
JOHN DEERE CAPITAL CORP
CORPORATE NOTES
DTD 07/14/2023 4.950% 07/14/2028
375,000.00
11,840,000.00
A2 377,865.00 4.78
11,849,400.30 2.88
3,970.31
72,228.09
377,757.72
11,757,327.19
369,412.50
Security Type Sub-Total 11,223,246.14
Agency CMBS
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24
3137BNGT5
3137BSP72
3137BTUM1
3137BXQY1
250,000.00
275,000.00
550,000.00
380,000.00
550,000.00
550,000.00
439,574.59
AA+
AA+
AA+
AA+
AA+
AA+
AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
3/19/2020 3/25/2020
4/11/2023 4/14/2023
4/6/2023 4/12/2023
5/19/2023 5/24/2023
8/16/2023 8/18/2023
6/8/2023 6/13/2023
7/19/2023 7/27/2023
262,382.81 1.95
263,613.28 4.37
526,839.84 4.02
368,303.13 4.31
518,804.69 4.98
527,033.20 4.44
439,563.61 4.78
637.92
629.06
253,088.47
265,562.67
530,140.21
369,512.83
519,867.89
528,853.34
439,564.02
242,336.21
259,884.21
511,969.52
359,902.80
516,090.58
515,055.44
431,373.87
FHMS K054 A2
DTD 04/20/2016 2.745% 01/01/2026
FHMS K058 A2
DTD 11/09/2016 2.653% 08/01/2026
1,215.96
1,059.88
1,477.67
1,486.38
1,749.87
FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
FHLMC MULTIFAMILY STRUCTURED P 3137F1G44
DTD 07/01/2017 3.243% 04/01/2027
FHMS KJ46 A1 3137HAD45
DTD 07/01/2023 4.777% 06/01/2028
40 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
Agency CMBS
FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
3137HACX2
3136BQDE6
3137HAMH6
3137HAMS2
550,000.00
550,000.00
800,000.00
500,000.00
5,394,574.59
AA+
AA+
AA+
AA+
Aaa
Aaa
Aaa
Aaa
7/13/2023 7/20/2023
7/18/2023 7/31/2023
9/7/2023 9/14/2023
9/20/2023 9/28/2023
555,493.40 4.59
540,675.78 4.58
788,165.60 4.99
494,023.50 5.07
5,284,898.84 4.52
2,208.71
1,920.42
3,100.00
2,000.00
17,485.87
555,267.86
540,997.48
788,268.43
494,032.79
5,285,155.99
539,882.46
525,507.52
777,256.33
490,943.42
5,170,202.36
FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
Security Type Sub-Total
ABS
GMALT 2021-2 A4
DTD 05/26/2021 0.410% 05/20/2025
380144AD7
44933LAC7
65480BAC1
89190GAC1
43815GAC3
14314QAC8
44935FAD6
254683CP8
362554AC1
14318MAD1
65480JAC4
7,905.67
32,583.46
174,780.61
176,061.06
85,713.92
57,634.38
68,549.39
195,000.00
73,291.67
210,000.00
140,000.00
AAA
AAA
AAA
AAA
NR
NR
NR
Aaa
NR
5/18/2021 5/26/2021
4/20/2021 4/28/2021
6/15/2021 6/23/2021
6/8/2021 6/14/2021
7,905.00 0.41
32,580.04 0.38
174,777.64 0.33
176,042.09 0.26
85,695.85 0.89
57,621.95 0.52
68,534.09 0.75
194,958.25 0.58
73,289.79 0.68
209,995.04 3.97
139,971.03 4.46
0.99 5.50
7,905.40
32,581.93
174,779.21
176,051.93
85,703.89
57,628.25
68,540.46
194,975.14
73,290.54
209,996.30
139,977.33
7,888.92
31,940.46
169,532.87
171,214.08
82,427.16
55,915.79
66,243.94
185,495.58
70,371.69
205,012.84
137,630.92
HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
25.63 20.34
20.95 13.32
22.55 50.27
20.77 370.53
277.51
TAOT 2021-B A3
DTD 06/14/2021 0.260% 11/17/2025
HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
Aaa 11/16/2021 11/24/2021
CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
AAA
AAA
AAA
AAA
AAA
AAA
NR
NR
4/13/2021 4/21/2021
11/9/2021 11/17/2021
9/20/2021 9/27/2021
HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
Aaa
GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
Aaa 10/13/2021 10/21/2021
CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
NR 7/12/2022 7/20/2022
NAROT 2022-B A3 Aaa 9/20/2022 9/28/2022
DTD 09/28/2022 4.460% 05/17/2027
41 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Rating Date Value
ABS
GMCAR 2022-4 A3
DTD 10/12/2022 4.820% 08/16/2027
36265QAD8
891940AC2
14041NGB1
41285JAD0
344928AD8
43815QAC1
254683CY9
02582JJZ4
14041NGD7
05522RDG0
254683CZ6
31680EAD3
161571HT4
02582JKD1
275,000.00
245,000.00
245,000.00
170,000.00
130,000.00
320,000.00
320,000.00
190,000.00
490,000.00
170,000.00
350,000.00
350,000.00
405,000.00
410,000.00
5,291,520.16
AAA
AAA
AAA
NR
NR
NR
NR
Aaa
NR
NR
Aaa
NR
NR
NR
Aaa
Aaa
NR
NR
10/4/2022 10/12/2022
1/24/2023 1/30/2023
10/27/2022 11/3/2022
2/13/2023 2/23/2023
3/28/2023 3/31/2023
8/15/2023 8/22/2023
4/4/2023 4/11/2023
6/7/2023 6/14/2023
5/17/2023 5/24/2023
6/8/2023 6/16/2023
6/21/2023 6/28/2023
8/15/2023 8/23/2023
9/7/2023 9/15/2023
9/12/2023 9/19/2023
274,954.93 4.82
244,999.88 4.63
244,961.56 4.95
169,982.88 5.05
129,986.44 4.65
319,934.02 5.42
319,981.44 4.31
189,983.15 4.87
489,887.64 4.43
169,961.51 4.79
349,952.72 4.93
349,978.30 5.53
404,887.73 5.17
409,981.67 5.23
5,290,804.64 4.17
552.29 274,963.95
244,999.90
244,968.62
169,985.02
129,987.84
319,935.63
319,983.22
189,984.17
489,895.67
169,963.80
349,955.20
349,978.77
404,887.68
409,980.85
5,290,900.70
271,000.87
240,550.48
241,607.22
167,816.98
127,653.15
318,998.05
311,577.09
187,483.34
477,948.30
167,630.97
345,782.99
348,795.93
402,783.31
408,604.36
5,201,907.29
TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
504.16
539.00
381.56
268.67
625.16
612.98
411.24
962.58
361.91
766.89
860.22
928.80
714.77
9,318.59
COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
AAA
AAA
NR
HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
AMXCA 2023-1 A
DTD 06/14/2023 4.870% 05/15/2028
AAA
AAA
AAA
AAA
AAA
AAA
AAA
COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
Security Type Sub-Total
Managed Account Sub Total
Securities Sub Total
Accrued Interest
53,371,094.75
$53,422,038.70
51,891,728.27 3.18 274,504.36 52,095,010.99
$52,145,954.94
50,158,301.78
$50,209,245.73
$274,504.36
$51,942,672.22 3.18% $274,504.36
42 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Portfolio Holdings
Total Investments $50,483,750.09
43 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Appendix
Important Disclosures
This material is for general information purposes only and is not intended to provide specific advice or a specific recommendation, as it was prepared without regard to any specific objectives or financial circumstances.
Investment advisory services are provided by PFM Asset Management LLC ("PFMAM"), an investment adviser registered with the U.S. Securities and Exchange Commission and a subsidiary of U.S. Bancorp Asset Management, Inc. ("USBAM"). USBAM is a subsidiary of U.S. Bank National Association ("U.S. Bank"). U.S. Bank is a separate entity and subsidiary of U.S. Bancorp. U.S. Bank is not responsible for and does not guarantee the products, services or performance of PFMAM. The information contained is not an offer to purchase or sell any securities. Additional applicable regulatory information is available upon request.
PFMAM professionals have exercised reasonable professional care in the preparation of this performance report. Information in this report is obtained from sources external to PFMAM and is generally believed to be reliable and available to the public; however, we cannot guarantee its accuracy, completeness or suitability. We rely on the client's custodian for security holdings and market values. Transaction dates reported by the custodian may differ from money manager statements. While efforts are made to ensure the data contained herein is accurate and complete, we disclaim all responsibility for any errors that may occur. References to particular issuers are for illustrative purposes only and are not intended to be recommendations or advice regarding such issuers. Fixed income manager and index characteristics are gathered from external sources. When average credit quality is not available, it is estimated by taking the market value weights of individual credit tiers on the portion of the strategy rated by a NRSRO.
It is not possible to invest directly in an index. The index returns shown throughout this material do not represent the results of actual trading of investor assets.
Third-party providers maintain the indices shown and calculate the index levels and performance shown or discussed. Index returns do not reflect payment of any sales charges or fees an investor would pay to purchase the securities they represent. The imposition of these fees and charges would cause investment performance to be lower than the performance shown.
The views expressed within this material constitute the perspective and judgment of PFMAM at the time of distribution and are subject to change. Any forecast, projection, or prediction of the market, the economy, economic trends, and equity or fixed-income markets are based upon certain assumptions and current opinion as of the date of issue and are also subject to change. Some, but not all assumptions are noted in the report. Assumptions may or may not be proven correct as actual events occur, and results may depend on events outside of your or our control. Changes in assumptions may have a material effect on results. Opinions and data presented are not necessarily indicative of future events or expected performance.
For more information regarding PFMAM's services or entities, please visit www.pfmam.com. © 2023 PFM Asset Management LLC. Further distribution is not permitted without prior written consent. 44 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Appendix
Important Disclosures
This information is for institutional investor use only, not for further distribution to retail investors, and does not represent an offer to sell or a solicitation of an offer to buy or sell any fund or other security. Investors should consider the Trust's investment objectives, risks, charges, and expenses before investing in the Trust. This and other information about the Trust is available in the Trust's current Information Sheet, which should be read carefully before investing. A copy of the Trust's information Statement may be available by calling 1-800-729-7665 or is available on the Trust's website at www.camponline.com. While the Cash Reserve Portfolio seeks to maintain a stable net asset value of $1.00 per share and the CAMP TERM Portfolio seeks to achieve a net asset value of $1.00 per share at the stated maturity, it is possible to lose money investing in the Trust. An investment in the Trust is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Shares of the Trust are distributed by PFM Fund Distributors, Inc., member Financial Industry Regulatory Authority (FINRA) (www.finra.org) and Securities Investor Protection Corporation (SIPC) (www.sipc.org). PFM Fund Distributors, Inc. is an affiliate of PFM Asset Management LLC.
Market values that include accrued interest are derived from closing bid prices as of the last business day of the month as supplied by Refinitiv, Bloomberg, or Telerate. Where prices are not available from generally recognized sources, the securities are priced using a yield-based matrix system to arrive at an estimated market value.
In accordance with generally accepted accounting principles, information is presented on a trade date basis; forward settling purchases are included in the monthly balances, and forward settling sales are excluded.
Performance is presented in accordance with the CFA Institute's Global Investment Performance Standards (GIPS). Unless otherwise noted, performance is shown gross of fees. Quarterly returns are presented on an unannualized basis. Returns for periods greater than one year are presented on an annualized basis. Past performance is not indicative of future returns.
Bank of America/Merrill Lynch Indices provided by Bloomberg Financial Markets.
Money market fund/cash balances are included in performance and duration computations.
Standard & Poor's is the source of the credit ratings. Distribution of credit rating is exclusive of money market fund/LGIP holdings.
Callable securities in the portfolio are included in the maturity distribution analysis to their stated maturity date, although, they may be called prior to maturity.
MBS maturities are represented by expected average life. 45 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Appendix
Glossary
Accrued Interest: Interest that is due on a bond or other fixed income security since the last interest payment was made.
Agencies: Federal agency securities and/or Government-sponsored enterprises.
Amortized Cost: The original cost of the principal of the security is adjusted for the amount of the periodic reduction of any discount or premium from the purchase date until the date of the report. Discount or premium with respect to short-term securities (those with less than one year to maturity at time of issuance) is amortized on a straight line basis. Such discount or premium with respect to longer-term securities is amortized using the constant yield basis.
Asset-Backed Security: A financial instrument collateralized by an underlying pool of assets – usually ones that generate a cash flow from debt, such as loans, leases, credit card balances, and receivables.
Bankers’ Acceptance: A draft or bill or exchange accepted by a bank or trust company. The accepting institution guarantees payment of the bill as well as the insurer.
Commercial Paper: An unsecured obligation issued by a corporation or bank to finance its short-term credit needs, such as accounts receivable and inventory.
Contribution to Total Return: The weight of each individual security multiplied by its return, then summed for each sector to determine how much each sector added or subtracted from the overall portfolio performance.
Effective Duration: A measure of the sensitivity of a security’s price to a change in interest rates, stated in years.
Effective Yield: The total yield an investor receives in relation to the nominal yield or coupon of a bond. Effective yield takes into account the power of compounding on investment returns, while nominal yield does not.
FDIC: Federal Deposit Insurance Corporation. A federal agency that insures bank deposits to a specified amount.
Interest Rate: Interest per year divided by principal amount and expressed as a percentage.
Market Value: The value that would be received or paid for an investment in an orderly transaction between market participants at the measurement date.
Maturity: The date upon which the principal or stated value of an investment becomes due and payable.
Negotiable Certificates of Deposit: A CD with a very large denomination, usually $1 million or more, that can be traded in secondary markets.
Par Value: The nominal dollar face amount of a security.
Pass-through Security: A security representing pooled debt obligations that passes income from debtors to its shareholders. The most common type is the mortgage-backed security.
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For the Quarter Ended September 30, 2023
CITY OF LAKE ELSINORE Appendix
Glossary
Repurchase Agreements: A holder of securities sells these securities to an investor with an agreement to repurchase them at a fixed price on a fixed date.
Settle Date: The date on which the transaction is settled and monies/securities are exchanged. If the settle date of the transaction (i.e., coupon payments and maturity proceeds) occurs on a non-business day, the funds are exchanged on the next business day.
Supranational: A multinational union or association in which member countries cede authority and sovereignty on at least some internal matters to the group, whose decisions are binding on its members.
Trade Date: The date on which the transaction occurred; however, the final consummation of the security transaction and payment has not yet taken place.
Unsettled Trade: A trade which has been executed; however, the final consummation of the security transaction and payment has not yet taken place.
U.S. Treasury: The department of the U.S. government that issues Treasury securities.
Yield: The rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis.
YTM at Cost: The yield to maturity at cost is the expected rate of return based on the original cost, the annual interest receipts, maturity value, and the time period from purchase date to maturity, stated as a percentage on an annualized basis.
YTM at Market: The yield to maturity at market is the rate of return based on the current market value, the annual interest receipts, maturity value, and the time period remaining until maturity, stated as a percentage on an annualized basis. 47 © PFM Asset Management LLC | pfmam.com