Agenda packet — Lake Elsinore City Council, March 12, 2024 (part 1 of 3)

City of Lake Elsinore
City Council Meeting
Agenda – Final
Steve Manos, Mayor
Brian Tisdale, Mayor Pro Tem
Timothy J. Sheridan, Council Member
Natasha Johnson, Council Member
Robert E. Magee, Council Member
Jason Simpson, City Manager
Meeting Date:

March 12, 2024
Closed Session: 5:00 PM
Public Session: 7:00 PM
Cultural Center
183 N. Main Street
Lake Elsinore, CA 92530
The City of Lake Elsinore appreciates your attendance. Citizens’ comments, input and interests provide the City Council with valuable information regarding issues of the community.

Meeting Information
Meetings are held on the 2nd and 4th Tuesday of every month, and the agenda is posted 72 hours prior to each meeting outside of City Hall. The agenda and related reports are also available on the City’s website at www.Lake-Elsinore.org. Meetings are conducted in person, televised live on Spectrum Cable Station Channel 29 and Frontier Cable Channel 31, and streamed online at http://www.lakeelsinore.org/city-government/city-council/webcast-videos. If you are attending the meeting in person, please park in the parking lot across the street from the Cultural Center to assist us in limiting the impact of meetings on the Downtown Business District. Thank you for your cooperation.

Public Comments – Addressing the City Council
Any person wishing to address the City Council on items not included on the Agenda may do so during Public Comments for 1 minute at the beginning of the meeting or during Public Comments for 3 minutes at the end of the meeting. We respectfully ask those interested in addressing the City Council to either submit a request to speak online at http://www.lake-elsinore.org/citygovernment/agendas-and-minutes or complete and present a “Request to Speak” form to the City Clerk at the meeting. This Form is available on the table located inside the Council Chamber.

Members of the public may also provide comments on Agenda items by noting the item on the “Request to Speak” form and will be called to address the City Council when the item is considered by the City Council during the meeting.

Written Communications
If you would like to submit written public comments, you may do so prior to the meeting either by entering them online at the link above or emailing them to the City Clerk at calvarez@lakeelsinore.org. Any written communications or additional documents distributed to the City Council within 72 hours of the meeting will also be made available to the public in accordance with Government Code Section 54957.5.

Accessibility Accommodations
In compliance with the Americans with Disabilities Act, any person with a disability who requires a modification or accommodation in order to participate in a meeting should contact the City Clerk’s Department at (951) 6743124 Ext. 269, at least 48 hours before the meeting to make reasonable arrangements to ensure accessibility
City Council Agenda - Final March 12, 2024
City of Lake Elsinore Page 2
Dream Extreme 2040 is the City’s FIRST long-term strategic plan to assist the City in its pursuit of achieving its vision. The plan is a living document that will be updated regularly and serve as the framework to guide all decision-making over the next 20 years by identifying key Anchors, Aspirations, and Strategies.

Our Vision is the City of Lake Elsinore will be the ultimate destination where all can live, work, play, build futures, and fulfill dreams.

The Anchors are the City of Lake Elsinore’s unique community assets and opportunities: The Lake, Downtown, and Action and Adventure.
• The Lake: Lake Elsinore is a vital community asset. Protecting, enhancing, and celebrating the Lake is critical to Lake Elsinore’s City and community health. • Downtown: Enhancing and creating the highest quality downtown experience will serve to create a strong sense of place that will shape the City’s identity as a place where residents and visitors can live, work, and play.
• Action and Adventure: Lake Elsinore’s programs, facilities, and natural environment will define the City as a destination for action and adventure for both visitors and residents.

Our Aspirations are broad, long-term goals that encapsulate what we hope to achieve in Lake Elsinore’s future. The City has identified 4 key aspirations to work towards.

Items on the agenda that align with Aspirations from the Dream Extreme 2040 Plan are noted by the Aspiration’s icon to highlight City Council actions that help the City pursue its goals.

To read the plan and learn more about its implementation in the City, visit www.Lake-Elsinore.org/DreamExtreme2040.

City Council Agenda - Final March 12, 2024
City of Lake Elsinore Page 3

CALL TO ORDER
The regular meeting of the City Council will be called to order.

ROLL CALL

PUBLIC COMMENTS ON CLOSED SESSION ITEMS
CLOSED SESSION – 5:00 P.M.

A. CONFERENCE WITH LEGAL COUNSEL--ANTICIPATED LITIGATION Significant exposure to litigation pursuant to paragraph (2) of subdivision (d) of Gov’t Code Section 54956.9: 1 potential case
B. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 371-100-015
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Liberty Founders Under negotiation: Price and terms of payment
C. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 371-100-004, 373-210-045, -032, -018
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Western Riverside County Regional Conservation Authority
Under negotiation: Price and terms of payment
D. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 374-272-003 and -004
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and HIS Chen Under negotiation: Price and terms of payment
E. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 374-263-001
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and David Reynolds Under negotiation: Price and terms of payment
F. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 374-263-002 and -006
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Li Li
Under negotiation: Price and terms of payment
City Council Agenda - Final March 12, 2024
City of Lake Elsinore Page 4
G. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 374-263-005
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and AWSW
Under negotiation: Price and terms of payment
RECESS
The City Council will recess to Closed Session.

RECONVENE/CALL TO ORDER - 7:00 P.M.

The Regular Meeting of the City Council will reconvene and the Regular Meeting of the Successor Agency will be called to order.

PLEDGE OF ALLEGIANCE

ROLL CALL

CLOSED SESSION REPORT

PRESENTATIONS/CEREMONIALS
1) 2024 Draft Traffic Relief Plan
Receive a presentation from Riverside County Transportation Commission’s Deputy Executive Director Aaron Hake.

PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 1 MINUTE
(Please read & complete a Request to Address the City Council/Successor Agency form prior to the start of the meeting and turn it in to the City Clerk/Clerk. The Mayor/Chair or City Clerk/Clerk will call on you to speak.)

CITY COUNCIL CONSENT CALENDAR
2) Minutes of the Special City Council Meeting of February 22, 2024 and Regular City Council Meeting of February 27, 2024
Approve the Minutes.
3) CC Warrant Report Dated February 02, 2024 to February 08, 2024 Receive and File.
4) CC Investment Report for January 2024
Receive and file the Investment Report for January 2024.

City Council Agenda - Final March 12, 2024
City of Lake Elsinore Page 5
5) Second Reading of an Ordinance Increasing City Council Compensation 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 (LEMC) SECTION 2.08.020 FOR THE PURPOSE OF INCREASING CITY COUNCIL COMPENSATION TO $1,600 PER MONTH. 6) Appointment of City Treasurer to Complete the Current Term and Receive Additional Information Regarding Whether the Position of City Treasurer Should Be Elective or Appointive

1. Approve the Budget Subcommittee's recommendation to appoint Edwin Castro as the City Treasurer to complete a term ending in December 2024; and

2. Direct staff to prepare a Resolution with proposed ballot measure wording to change the City Treasurer position from elective to appointive to be submitted to the Riverside County Regisrar of Voters for inclusion on the November 5, 2024 General Municipal Election ballot.
7) Reimbursement of Low and Moderate Income Housing Asset Fund for Spring Street Properties to Be Utilized as Parking for New Library Project

1. Find that the twelve City parcels located on Spring Street between Sumner and Heald adjacent to the flood control channel (APN 374-162-039, -041, -043, -045, - 047, -049, -051, -053, -055, -057, -059, and -061) are not suitable for affordable housing purposes and can best serve and promote the health, safety, and welfare of City residents by providing necessary parking for the new downtown Library project; and

2. Authorize and direct the City Manager to reimburse the Low and Moderate Income Housing Asset Fund in the amount of $350,000.
8) Professional Services Agreement with Inland Foundation Engineering, Inc. for Geotechnical Investigation Services of the New City Library Project (CIP Project Z20003)
Approve and authorize the City Manager to execute a Professional Services Agreement with Inland Foundation Engineering, Inc. in the amount of $18,000.00 for Geotechnical Investigation Services of the New City Library Project in such final form as approved by the City Attorney; and authorize the City Manager to approve change orders up to 10% of the agreement in the amount of $1,800.00. 9) Professional Services Agreement with Engineering Resources of Southern California, Inc. (ERSC) for the Civil Engineering Services of the City Park Parking Lot Project (CIP Project Z40037)
Approve and authorize the City Manager to execute a Professional Services Agreement with Engineering Resources of Southern California, Inc. (ERSC) for Civil Engineering Services of the City Park Parking Lot Project (CIP Project Z40037) in an amount not to exceed $97,760.00 as approved by the City Attorney and authorize the City Manager to execute change orders not to exceed a 10% contingency of $9,776.00 for unanticipated costs.

City Council Agenda - Final March 12, 2024
City of Lake Elsinore Page 6
10) Notice of Decision – Planning Commission Approval of Planning Application No. 2023-36 (Lake Oasis Spa) for a Conditional Use Permit for a new massage establishment within a 1,530 sq. ft. suite within an existing multi-tenant building located at 31900 Mission Trail
Receive and File the Notice of Decision for Planning Application No. 2023-36, approved by the Planning Commission on February 6, 2024. 11) Amendment No. 1 to the Professional Services Agreement with HELIX Environmental Planning, Inc. for the Mary McDonald Senior Apartments Project Approve and authorize the City Manager to execute Amendment No. 1 to the Agreement for Professional Services with HELIX Environmental Planning, Inc. for additional services to prepare National Environmental Policy Act (NEPA) compliance documents for a total contract amount not to exceed $67,150, in final form as approved by the City Attorney.
12) Amendment No. 1 to the Agreement for Professional Services with STC Traffic, Inc. for Traffic Signal Coordination Timing Plans for I-15/Main Street Interchange Approve and authorize the City Manager to execute Amendment No. 1 to Professional Design Services Agreement with STC Traffic, Inc. for $27,000 for additional required effort to develop and implement traffic signal coordination timing plans associated with the Main Street Interchange Project in such final form as approved by the City Attorney, plus an additional 10% contingency for unforeseen expenditures. 13) Professional Services Agreement With EGP Consulting, Inc., for Environmental Services on the I-15 Main Street Interchange Landscape Improvement Project Approve and authorize the City Manager to execute an agreement with EGP Consulting, Inc., in an amount not to exceed $39,673.60 for Environmental Services for the I-15 Main Street Interchange Landscape Improvement Project in such final form as approved by the City Attorney and authorize the City Manager to execute change orders not exceeding a 10% contingency of $3,967.36 for uncertainties and adjustments.

SUCCESSOR AGENCY CONSENT CALENDAR
14) Minutes of the Regular Successor Agency Meeting of February 27, 2024 Approve the Minutes.
15) SA Investment Report for January 2024
Receive and file the Investment Report for January 2024. 16) SA Warrant Report Dated February 02, 2024 to February 08, 2024 Receive and File.

City Council Agenda - Final March 12, 2024
City of Lake Elsinore Page 7

PUBLIC HEARING
17) Extension of Time Request for Tentative Tract Map No. 37922, Conditional Use Permit No. 2019-19, and Commercial Design Review No. 2019-27 (Lake and Mountain Commercial 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 certified Environmental Impact Report (ER 2020-03) (SCH No. 2020080538);

2. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE, CALIFORNIA, APPROVING A TWO-YEAR EXTENSION OF TIME FOR TENTATIVE TRACT MAP NO. 37922 TO JANUARY 25, 2026;

3. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE, CALIFORNIA, APPROVING A TWO-YEAR EXTENSION OF TIME FOR CONDITIONAL USE PERMIT NO. 2019-19 TO JANUARY 25, 2026; and

4. Adopt A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LAKE

ELSINORE, CALIFORNIA, APPROVING A TWO-YEAR EXTENSION OF TIME FOR COMMERCIAL DESIGN REVIEW NO. 2019-27 TO JANUARY 25, 2026.

PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 3 MINUTES
(Please read & complete a Request to Address the City Council/Successor Agency form prior to the start of the meeting and turn it in to the City Clerk/Clerk. The Mayor/Chair or City Clerk/Clerk will call on you to speak.)

CITY MANAGER COMMENTS

CITY ATTORNEY COMMENTS

CITY COUNCIL COMMENTS/REPORTS ON MEETINGS ATTENDED

ADJOURNMENT
The Lake Elsinore City Council will adjourn to the next Regular meeting of Tuesday, March 26, 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.

AFFIDAVIT OF POSTING
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, do hereby affirm that a copy of the forgoing agenda was posted at City Hall at 5:00 p.m. on Thursday, March 7, 2024.

_________________________
Candice Alvarez, MMC
City Clerk

A. CONFERENCE WITH LEGAL COUNSEL--ANTICIPATED LITIGATION Significant exposure to litigation pursuant to paragraph (2) of subdivision (d) of Gov’t Code Section 54956.9: 1 potential case

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Barbara Leibold, City Attorney
Date: March 12, 2024
Subject: CONFERENCE WITH LEGAL COUNSEL--ANTICIPATED LITIGATION Significant exposure to litigation pursuant to paragraph (2) of subdivision (d) of Gov’t Code Section 54956.9: 1 potential case
B. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 371-100-015
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Liberty Founders Under negotiation: Price and terms of payment

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Barbara Leibold, City Attorney
Date: March 12, 2024
Subject: CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 371-100-015
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Liberty Founders Under negotiation: Price and terms of payment
C. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 371-100-004, 373-210-045, -032, -018
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Western Riverside County Regional Conservation Authority
Under negotiation: Price and terms of payment

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Barbara Leibold, City Attorney
Date: March 12, 2024
Subject: CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 371-100-004, 373-210-045, -032, -018
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Western Riverside County Regional Conservation Authority
Under negotiation: Price and terms of payment
D. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 374-272-003 and -004
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and HIS Chen Under negotiation: Price and terms of payment

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Barbara Leibold, City Attorney
Date: March 12, 2024
Subject: CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 374-272-003 and -004
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and HIS Chen Under negotiation: Price and terms of payment
E. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 374-263-001
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and David Reynolds Under negotiation: Price and terms of payment

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Barbara Leibold, City Attorney
Date: March 12, 2024
Subject: CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 374-263-001
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and David Reynolds Under negotiation: Price and terms of payment
F. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 374-263-002 and -006
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Li Li
Under negotiation: Price and terms of payment

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Barbara Leibold, City Attorney
Date: March 12, 2024
Subject: CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 374-263-002 and -006
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Li Li
Under negotiation: Price and terms of payment
G. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 374-263-005
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and AWSW
Under negotiation: Price and terms of payment

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Candice Alvarez, MMC, City Clerk
Date: March 12, 2024
Subject: CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 374-263-005
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and AWSW
Under negotiation: Price and terms of payment
1) 2024 Draft Traffic Relief Plan
Receive a presentation from Riverside County Transportation Commission’s Deputy Executive Director Aaron Hake.

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Jason Simpson, City Manager
Date: March 12, 2024
Subject: 2024 Draft Traffic Relief Plan
Recommendation
Receive a presentation from Riverside County Transportation Commission’s Deputy Executive Director Aaron Hake.
2) Minutes of the Special City Council Meeting of February 22, 2024 and Regular City Council Meeting of February 27, 2024
Approve the Minutes.

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Candice Alvarez, MMC, City Clerk
Date: March 12, 2024
Subject: Minutes of the Special City Council Meeting of February 22, 2024 and Regular City Council Meeting of February 27, 2024
Recommendation
Approve the Minutes.

Attachments
Attachment 1- 2/22/2024 SM Draft Minutes
Attachment 2- 2/27/2024 Draft Minutes
City of Lake Elsinore
Special 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:

February 22, 2024
Public Session: 5:00 PM
Cultural Center
183 N. Main Street
Lake Elsinore, CA 92530

CALL TO ORDER
The Special Meeting of the City Council was called to order at 5:15 p.m.

ROLL CALL

Present: 5 - Council Members Johnson, Magee, and Sheridan; Mayor Pro Tem Tisdale; and Mayor Manos

Absent: 0 - None

PUBLIC COMMENTS
There were no speakers.

PLEDGE OF ALLEGIANCE
Mayor Manos led the Pledge of Allegiance.

INVOCATION/MOMENT OF SILENCE

BUSINESS ITEM
1) General Plan Update – City Council Study Session No. 2 This item was discussed; however, no final action was taken.

CITY MANAGER'S COMMENTS
City Manager Simpson had no comments.

City Council Minutes - Draft February 22, 2024
City of Lake Elsinore Page 2

CITY ATTORNEY COMMENTS
Assistant City Attorney Mann had no comments.

CITY COUNCIL COMMENTS/REPORTS ON MEETINGS ATTENDED
City Council Members had no comments.

ADJOURNMENT
The Lake Elsinore City Council adjourned at 7:02 p.m. to the next Regular meeting of Tuesday, February 27, 2024 in the Cultural Center located at 183 N. Main Street. Closed Session will commence at 5:00 p.m. or at such later time as noticed on the Agenda, and the regular Open Session business meeting will commence at 7:00 p.m.

City of Lake Elsinore
City Council Meeting
Minutes – Draft
Steve Manos, Mayor
Brian Tisdale, Mayor Pro Tem
Timothy J. Sheridan, Council Member
Natasha Johnson, Council Member
Robert E. Magee, Council Member
Jason Simpson, City Manager
Meeting Date:

February 27, 2024
Closed Session: 5:00 PM
Public Session: 7:00 PM
Cultural Center
183 N. Main Street
Lake Elsinore, CA 92530

CALL TO ORDER
The Regular Meeting of the City Council was called to order at 5:00 p.m.

ROLL CALL

Present: 5 - Council Members Johnson, Magee, and Sheridan; Mayor Pro Tem Tisdale; and Mayor Manos

Absent: 0 - None

PUBLIC COMMENTS FOR CLOSED SESSION ITEMS

CLOSED SESSION
A. PUBLIC EMPLOYEE PERFORMANCE EVALUATION
(Gov’t Code Section 54957(b)): CITY MANAGER
B. CONFERENCE WITH LEGAL COUNSEL--ANTICIPATED LITIGATION Significant exposure to litigation pursuant to paragraph (2) of subdivision (d) of Gov’t Code Section 54956.9: 1 potential case
C. CONFERENCE WITH REAL PROPERTY NEGOTIATOR
(Gov’t Code Section 54956.8)
Property: APNs: 371-100-004, 373-210-045, -032, -018
Agency negotiator: City Manager Simpson
Negotiating parties: City of Lake Elsinore and Western Riverside County Regional Conservation Authority
Under negotiation: Price and terms of payment
City Council Minutes - Draft February 27, 2024
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 Manos led the Pledge of Allegiance.

ROLL CALL

Present: 5 - Council/Agency Members Johnson, Magee, and Sheridan; Mayor Pro Tem/Vice Chair Tisdale; and Mayor/Chair Manos

Absent: 0 - None

CLOSED SESSION REPORT
City Attorney Leibold reported that all three items were discussed; however, no reportable action was taken.

PRESENTATIONS/CEREMONIALS
1) Reality Rally
Gillian Larson announced the end of Reality Rally and thanked the City Council and staff for their support and enthusiasm..
2) Riverside County Arts & Culture Month
Present a Proclamation proclaiming the month of March 2024 as “Riverside County Arts & Culture Month” in the City of Lake Elsinore.

Mayor Manos presented the Proclamation to Rebeckah Ross, Principal Development Specialist for the Riverside County Office of Economic Development.

PUBLIC COMMENTS - NON-AGENDIZED ITEMS - 1 MINUTE
Ace Vallejos was called to speak.

CITY COUNCIL CONSENT CALENDAR
A motion was made by Council Member Johnson, seconded by Mayor Pro Tem Tisdale to approve the City Council Consent Calendar with Item Nos. 9 and 10 being removed for discussion. The motion carried by the following vote:

Aye: 5 Council Members Johnson, Magee, and Sheridan; Mayor Pro Tem Tisdale; and Mayor Manos
Nay: 0 None
City Council Minutes - Draft February 27, 2024
City of Lake Elsinore Page 3
3) Minutes of the Regular City Council Meeting of February 13, 2024 Approve the Minutes.

This item was approved on the City Council Consent Calendar. 4) CC Warrant Report Dated January 12, 2024 to February 01, 2024 Receive and File.

This item was approved on the City Council Consent Calendar. 5) CC Investment Report for November 2023
Receive and file the Investment Report for November 2023.

This item was approved on the City Council Consent Calendar. 6) CC Investment Report for December 2023
Receive and file the Investment Report for December 2023.

This item was approved on the City Council Consent Calendar. 7) Second Reading of an Ordinance Amending Lake Elsinore Municipal Code Section 2.42.070 Regarding Failure to Fill a Vacancy of the City Treasurer Seat 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 2.42.070 REGARDING FAILURE TO FILL A VACANCY OF THE CITY TREASURER SEAT.

This item was approved on the City Council Consent Calendar. 8) Amendment No. 1 to the Agreement With Area 63 Productions, LLC. for On-call Training and RV Repair Services.

Approve and authorize the City Manager to execute Amendment No. 1 to the agreement with Area 63 Productions, LLC. to increase compensation from $80,000 to an amount not to exceed $125,000 for On-Call Training and RV Repair Services in such final form as approved by the City Attorney and authorize the City Manager to execute change orders not exceeding a 10% contingency of $12,500 for uncertainties.

This item was approved on the City Council Consent Calendar. 9) Compensation for Members of the City Council
Introduce 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 (LEMC) SECTION 2.08.020 FOR THE PURPOSE OF INCREASING CITY COUNCIL COMPENSATION TO $1,600 PER MONTH.

This item was removed from the City Council Consent Calendar for discussion.

City Council Minutes - Draft February 27, 2024
City of Lake Elsinore Page 4
10) Notice of Decision – Planning Commission Denial of Planning Application No. 2022-02 (Ambassador Discipleship Center) to remodel an existing 14,565 sq. ft. four-story building with a 2,087 sq. ft. addition (16,652 sq. ft. total) and a 3,906 sq. ft. storage building and to establish and operate a congregate living and educational facility located at 164 and 184 South Main Street On February 20, 2024, a timely appeal of the decision of the Planning Commission to deny Planning Application No. 2022-02 was filed with the City. In accordance with Sections 17.410.090.A and B of the Lake Elsinore Municipal Code (LEMC), this report is submitted for informational purposes only. There is no action requested from the City Council as a timely appeal was filed for this application.

This item was removed from the City Council Consent Calendar for discussion. 11) Bunny Trunk Hop Road Closure
Approve the road closure for the Bunny Trunk Hop event on Saturday, March 30, 2024.

This item was approved on the City Council Consent Calendar. 12) Agreement with ESi Acquisition, Inc. for a WebEOC Subscription Approve and authorize the City Manager to execute an agreement with ESi Acquisition, Inc. for a WebEOC subscription in an amount not to exceed $186,861.43 and 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 amount of $18,686.14 for unanticipated costs.

This item was approved on the City Council Consent Calendar. 13) Notice of Completion on Via De La Valle Landscape Improvement (CIP Project #Z10009)
Accept the improvements to the Via De La Valle Landscape Improvement Project (#Z10009) completed by Jon Gilmer Construction and authorize the City Clerk to record the Notice of Completion.

This item was approved on the City Council Consent Calendar. 14) Amendment No. 1 to the Contractor Services Agreement with M & M Air Conditioning, Inc. for On-call Services
Approve and authorize the City Manager to execute Amendment No. 1 to the Contractor Services Agreement with M & M Refrigeration, Air Conditioning & Heating for Citywide Facilities Repairs and Services in an amount not to exceed $20,000.00 in such final form as approved by the City Attorney.

This item was approved on the City Council Consent Calendar.

City Council Minutes - Draft February 27, 2024
City of Lake Elsinore Page 5

ITEMS REMOVED FROM THE CITY COUNCIL CONSENT CALENDAR FOR DISCUSSION 9) Compensation for Members of the City Council
Introduce 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 (LEMC) SECTION 2.08.020 FOR THE PURPOSE OF INCREASING CITY COUNCIL COMPENSATION TO $1,600 PER MONTH.

Ace Vallejos was called to speak.

Kim Cousins was called to speak.

A motion was made by Mayor Pro Tem Tisdale, seconded by Council Member Sheridan to introduce by title only and waive further reading of the Ordinance.

The motion carried by the following vote:

Aye: 5 Council Members Johnson, Magee, and Sheridan; Mayor Pro Tem Tisdale; and Mayor Manos
Nay: 0 None
10) Notice of Decision – Planning Commission Denial of Planning Application No. 2022-02 (Ambassador Discipleship Center) to remodel an existing 14,565 sq. ft. four-story building with a 2,087 sq. ft. addition (16,652 sq. ft. total) and a 3,906 sq. ft. storage building and to establish and operate a congregate living and educational facility located at 164 and 184 South Main Street On February 20, 2024, a timely appeal of the decision of the Planning Commission to deny Planning Application No. 2022-02 was filed with the City. In accordance with Sections 17.410.090.A and B of the Lake Elsinore Municipal Code (LEMC), this report is submitted for informational purposes only. There is no action requested from the City Council as a timely appeal was filed for this application.

Assistant Community Development Director Abraham presented the staff report.

Ace Vallejos was called to speak.

Kim Cousins was called to speak.

Brett Masters was called to speak.

No action was taken on this item.

SUCCESSOR AGENCY CONSENT CALENDAR
A motion was made by Agency Member Sheridan, seconded by Agency Member Johnson to approve the Successor Agency Consent Calendar. The motion carried by the following vote:

Aye: 5 Agency Members Johnson, Magee, and Sheridan; Vice Chair Tisdale; and Chair Manos
Nay: 0 None
City Council Minutes - Draft February 27, 2024
City of Lake Elsinore Page 6
15) Minutes of the Regular Successor Agency Meeting of February 13, 2024 Approve the Minutes.

This item was approved on the Successor Agency Consent Calendar. 16) SA Warrant Report Dated January 12, 2024 to February 01, 2024 Receive and File.

This item was approved on the Successor Agency Consent Calendar. 17) SA Investment Report for November 2023
Receive and file the Investment Report for November 2023.

This item was approved on the Successor Agency Consent Calendar. 18) SA Investment Report for December 2023
Receive and file the Investment Report for December 2023.

This item was approved on the Successor Agency Consent Calendar.

BUSINESS ITEM
19) Local Road Safety Plan
Approve and adopt the Local Roadway Safety Plan.

City Engineer Habib presented the staff report and introduced Diwu Zhou, PE RSP, of Fehr & Peers who provided additional information.

Kim Cousins was called to speak.

A motion was made by Council Member Sheridan, seconded by Council Member Johnson to approve and adopt the Plan. The motion carried by the following vote:

Aye: 5 Mayor Pro Tem Tisdale, Council Member Sheridan, Council Member Magee, Mayor Manos, Council Member Johnson
Nay: 0 None

PUBLIC COMMENTS - NON-AGENDIZED ITEMS - THREE MINUTES
There were no speakers.

CITY ATTORNEY COMMENTS
City Attorney Leibold had no comments.

CITY MANAGER'S COMMENTS
City Manager Simpson had no comments.

City Council Minutes - Draft February 27, 2024
City of Lake Elsinore Page 7

CITY COUNCIL COMMENTS/REPORTS ON MEETINGS ATTENDED
Council Member Johnson provided an update on the lake levels and test results; announced the Bunny Trunk Hop event which will be held on March 30, 2024 from 10:00 a.m. to 1:00 p.m. on Downtown Main Street; and shared Eric S.’s homeless success story.

Council Member Magee reported on his attendance at the Riverside County Transportation Commission Budget Committee meeting on February 26, 2024; invited residents to watch or participate in the SCCA Los Angeles Chapter (Cal Club) races on March 3, 2024 at the Lake Elsinore Diamond Stadium; and invited the community to attend the Spring CHACS 300 ft. Sand Drags event March 15-17, 2024 at the Lake Elsinore Motorsports Park.

Council Member Sheridan reported on his attendance at the Riverside Transit Agency Executive Committee and Board of Directors meetings on February 22, 2024; shared a video promoting the Live Under the Stars event to be held on March 9, 2024 from 6:00 p.m. – 9:00 p.m. on Downtown Main Street; announced the Lake Elsinore Historical Society’s speaker series event which will be held on March 14, 2024 at 7:00 p.m. in the Cultural Center; invited teen girls to attend the Dresses & Dreams Project’s Operation Prom Girl event on April 13, 2024 from 9:30 a.m. – 3:00 p.m. at the Calvary Chapel Temecula; announced that Lake Elsinore Storm’s opening day is April 5, 2024 at 6:45 p.m. and shared that half season tickets are available for purchase; shared information regarding the Storm Kidz Club; and announced that he will be speaking to Ortega High School Juniors and Seniors on March 11, 2024 from 9:00 a.m. to 11:30 a.m.

Mayor Pro Tem Tisdale reminded residents to dump rainwater collected due to the current storms; encouraged community members to report issues using the Alert LE app; and thanked Public Works employees, Firefighters, and Sheriff’s Officers for keeping the community safe.

Mayor Manos shared additional information regarding Riverside County Arts & Culture Month; and reported on the City Council’s discussion regarding the General Plan Update at its February 22, 2024 Special Meeting.

ADJOURNMENT
The Lake Elsinore City Council adjourned at 8:07 p.m. to the next Regular meeting of Tuesday, March 12, 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.

3) CC Warrant Report Dated February 02, 2024 to February 08, 2024 Receive and File.

Page 1 of 1 ends

Discussion
The Warrant Report lists all general checks issued since the prior Warrant Report.

Attachments
Attachment 1 - City Warrant Summary
Attachment 2 - City Warrant List
FEB 2, 2024 TO FEB 8, 2024 CITY OF LAKE ELSINORE CITY WARRANT SUMMARY FUND NO. FUND DESCRIPTION TOTAL
100 GENERAL 576,908.00 $
103 THE ANCHOR 91,560.06
110 GAS TAX 14,034.15
130 LIGHTING, LANDSCAPE, MAINTENANCE DIST - CITYWIDE 24,953.63 135 LIGHTING, LANDSCAPE, MAINTENANCE DIST - NO. 1 6,193.21 155 NATIONAL POLLUTANT DISCHARGE ELIMINATION SYSTEM 126.68 180 LAUNCH POINTE 47,883.70
300 INSURANCE SERVICES 351.08
305 INFORMATION SYSTEMS SERVICE 50,962.86
310 SUPPORT SERVICE 1,697.54
315 FLEET SERVICE 3,083.54
320 FACILITIES SERVICE 7,953.67
330 CFD 2015-2S MAINTENANCE SERVICES 314.00
500 CAPITAL IMPROVEMENT PLAN 309,351.45
653 CFD 2009-1S PARK,OPEN SPACE,STREET LIGHT SERVICES 1,644.41 GRAND TOTAL 1,137,017.98 $
Attachment 1 1 of 1
FEB 2, 2024 TO FEB 8, 2024 CITY OF LAKE ELSINORE CITY WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA24001825 AARON CHEVROLET $ 961.01
APA24001826 ACTION GAS & WELDING SUPPLY 143.56
APA24001827 ADAMS STREETER CIVIL ENGINEERS, INC. 4,240.00 APA24001828 ALLEGRA MARKETING PRINT MAIL 571.99
APA24001829 AMERICAN ALLIANCE DRUG TESTING 330.00
APA24001830 AMERICAN FORENSIC NURSES, INC. 1,934.00
APA24001831 AZTECA CLEANING SERVICES LLC 1,890.00
APA24001832 BANK OF AMERICA (0061) 1,000.00
APA24001833 BANK OF AMERICA (3151) 19.03
APA24001834 BANK OF AMERICA (8767) 893.49
APA24001835 BANK OF AMERICA (8926) 2,070.85
APA24001836 BIO-TOX LABORATORIES 4,173.36
APA24001837 CDW GOVERNMENT, INC. 1,287.43
APA24001838 CHARTER COMMUNICATIONS 2,692.57
APA24001839 CHARTER COMMUNICATIONS 28.30
APA24001840 CINTAS CORPORATION NO. 2 375.53
APA24001841 CORODATA RECORDS MANAGEMENT, INC. 144.27
APA24001842 COTTER CONSTRUCTION, INC. 59,818.00
APA24001843 CREATIVE INDUSTRIES MEDIA GROUP 3,152.25
APA24001844 DE SANTIAGO, RICK 331.82
APA24001845 DISCOUNT HAULING & CLEANUP SERVICE 2,830.00 APA24001846 EVMWD 28,495.65
APA24001847 FRONTIER CALIFORNIA, INC. 123.81
APA24001848 FRONTIER CALIFORNIA, INC. 60.99
APA24001849 FRONTIER CALIFORNIA, INC. 119.70
APA24001850 GOLDSTAR ASPHALT PRODUCTS 248.90
APA24001851 HEFINGTON MARTIAL ARTS 373.50
APA24001852 HUNSAKER & ASSOCIATES IRVINE, INC. 3,164.06 APA24001853 INNOVATIVE DOCUMENT SOLUTIONS 1,697.54
APA24001855 MONUMENT ROW 737.50
APA24001856 MOTOPORT USA 1,473.75
APA24001857 NAKAE & ASSOCIATES, INC. 5,635.00
APA24001858 NPG, INC. 65,000.00
APA24001859 O'REILLY AUTO STORES INC/FIRST CALL 392.90
APA24001860 PRESS-ENTERPRISE, THE 2,554.87
APA24001861 PRUDENTIAL OVERALL SUPPLY 523.70
APA24001862 QUICK CRETE PRODUCTS CORP. 59,361.51
APA24001863 RENTERIA, LUIS ANTONIO 170.00
APA24001864 RIGHTWAY SITE SERVICES, INC. 1,260.93
APA24001865 RIVERSIDE COUNTY TRANSPORTATION & LAND MANAGEMENT 13,139.09 APA24001866 ROBBINS PEST MANAGEMENT, INC. 105.00
APA24001867 SAFEGUARD BY FONTIS 588.86
APA24001868 SHRED-IT USA, LLC 85.60
Attachment 2 1 OF 3
FEB 2, 2024 TO FEB 8, 2024 CITY OF LAKE ELSINORE CITY WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
APA24001869 SOCIAL WORK ACTION GROUP 87,637.05
APA24001870 SOUTHERN CALIFORNIA EDISON CO. 28,709.00
APA24001871 SOUTHERN CALIFORNIA GAS CO. 1,728.65
APA24001872 STAPLES ADVANTAGE 1,020.39
APA24001873 STENO SOLUTIONS TRANSCRIPTION SERVICES, INC, 134.19 APA24001874 STEWART TITLE OF CALIFORNIA 800.00
APA24001875 STK ARCHITECTURE, INC. 2,361.80
APA24001876 T-MOBILE USA, INC. 100.00
APA24001877 USA SHADE & FABRIC STRUCTURES 37,000.00
APA24001878 VERIZON WIRELESS (#13) 198.89
APA24001879 VULCAN MATERIALS COMPANY 646.16
APA24001880 WALMART COMMUNITY 95.70
APA24001881 WESTERN RIVERSIDE COUNCIL OF GOVT'S 253,725.24 DFT240384 CHARTER COMMUNICATIONS 1,399.00
DFT240391 CALPERS 76,931.39
6384 AK SECURITY ALARM LLC 31,408.71
6385 AMAZON BUSINESS 1,833.27
6386 BMW MOTORCYCLES OF RIVERSIDE 714.69
6387 BMW MOTORCYCLES OF RIVERSIDE 264.08
6388 BMW MOTORCYCLES OF RIVERSIDE 596.35
6389 BRINKS INCORPORATED 878.53
6390 CIVICA LAW GROUP, APC 24,520.15
6391 DELONE, MARIA JAZMINE 1,863.75
6392 DOWNS ENERGY 200.74
6394 ENDRESEN DEVELOPMENT, INC. 1,507.82
6395 ENDRESEN DEVELOPMENT, INC. 9,610.66
6397 ENDRESEN DEVELOPMENT, INC. 9,490.66
6398 ENDRESEN DEVELOPMENT, INC. 9,727.51
6399 GOTO TECHNOLOGIES USA, INC. 3,268.40
6400 HDR ENGINEERING, INC. 1,859.41
6401 HDR ENGINEERING, INC. 61,060.04
6402 LAW OFFICES OF ANGEL HO, INC 5,537.40
6403 LYNN MERRILL AND ASSOCIATES, INC. 126.68
6404 NTH GENERATION COMPUTING, INC. 8,960.00
6405 REGIONAL CONSERVATION AUTHORITY 170,948.54
6406 RENTERIA, YARABITH BUENFIL 1,398.75
6407 SECURITAS SECURITY SERVICES USA, INC. 3,130.80
6408 SECURITAS SECURITY SERVICES USA, INC. 3,130.80
6409 SERVICE FIRST 3,767.00
6410 SUN PAC CONTAINERS, INC. 95.00
6411 THOMSON REUTERS - WEST PUBLISHING CORP. 489.71
6412 TINT SOLUTIONS 13,173.00
6413 WKE, INC. 767.75
Attachment 2 2 OF 3
FEB 2, 2024 TO FEB 8, 2024 CITY OF LAKE ELSINORE CITY WARRANT LIST WARRANT NO. VENDOR NAME AMOUNT
GRAND TOTAL $ 1,137,017.98
Attachment 2 3 OF 3
4) CC Investment Report for January 2024
Receive and file the Investment Report for January 2024.

Page 1 of 1 ends

Discussion
The Investment Report is a listing of all funds invested for the City as of the date shown on the report.

Fiscal Impact
No fiscal impact.

Attachments
Attachment 1- Investment Report for January 2024

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 JANUARY 31, 2024

BANK DEPOSITS

IN TRANSIT

OUTSTANDING

PAYMENTS
BOOK

CASH ACCOUNTS
Bank Accounts:

BALANCE BALANCE
General Checking Account $ 21,657,608 $ 534,410 $ (2,882) $ 22,189,136 Cash On Hand:

Cashier Drawers #1 & #2
City of Lake Elsinore Petty Cash Fund
-
-
-
-
-
-
300
2,000
Total Cash Accounts 21,657,608 534,410 (2,882) 22,191,436 50,976,822

INVESTMENTS
Local Agency Investment Funds 50,976,822 - -
CAMP Investments:

CAMP Pool Account 191,349
22,477,966
634,530
1,536,023
6,983,775
2,266,362
11,943,094
900,000
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
-
191,349
22,477,966
634,530
1,536,023
6,983,775
2,266,362
11,943,094
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 5,349,105 5,349,105
Sub-total Investments 103,259,025 - - 103,259,025
Market Value Adjustment:

Unrealized Gain/(Loss) at 09/30/2023 (584,093) - - (584,093) Total Investments 102,674,932
124,332,540
- - 102,674,932
Total Pooled Cash and Investments $ $ 534,410 $ (2,882) $ 124,866,368 TOTAL POOLED CASH AND INVESTMENTS $ 124,866,368
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
February 20, 2024
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 JANUARY 31, 2024

FUND NO FUND NAME AMOUNT
100
102
106
107
108
109
110
112
114
116
117
118
119
121
135
140
180
202
203
205
211
221
231
232
300
305
310
320
331
332
334
335
336
337
338
339
340
345
346
347
350
351
354
355
357
General $ 16,257,636
17,317,285
777,624
256,871
5,788,473
978,729
404,323
839,261
63,209
Measure Z
Affordable Housing In Lieu
Developer Agreement Revenue
American Rescue Plan
Road Maintenance and Rehabilitation (SB1)
State Gas Tax
Measure A
SB1186 CASP Education Program
City Hall-Public Works DIF 79,364
Community Center DIF 270,206
424,641
66,224
Lake Side Facility DIF
Animal Shelter DIF
T.R.I.P.-2014A 520
Lighting & Landscape Maintenance - Dist. No. 1
Geothermal
1,391,357
12,119
Launch Pointe 489,110
La Strada RBBD 24,716
E.L.S.P. - S.T.I.F. 3,485,332
445,786
3,225,088
194,385
1,404,320
761,190
952,342
2,456,334
24,819
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
Facilities Service 2,195,837
CFD 2006-1CC Summerly Improvement Area CC 92,762
CFD 2006-1 Improvement Area B, Summerly
CFD 2015-5 Trieste - Far West Industries
CFD 2003-2E Canyon Hills Improvement Area E
CFD 2006-1FF Summerly Improvement Area FF
CFD 2016-2 Canyon Hills
82,009
76,945
86,158
97,226
654,736
170,513
137,676
146,042
982,463
70,443
120,938
475,534
162,232
545,586
370,687
269,281
CFD 2006-1 IA-JJ Summerly Improvement Area
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
CFD 2006-1 Improvement Area A, Summerly
CFD 98-1 Summerhill
CFD 2006-1 IA-II Summerly Improvement
CFD 90-2 Tuscany Hills
RAD 2021-1 Canyon Hills Improvement
CFD 2003-2 Canyon Hills Improvement Area

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 JANUARY 31, 2024

FUND NO FUND NAME AMOUNT
361 10,959
363
364
366
368
369
370
371
372
374
375
377
378
384
385
386
387
388
390
392
394
395
396
397
500
510
603
604
605
606
608
617
CFD 2022-2 Lakeshore Improvement
CFD 2022-3 Lakeside 844
CFD 2023-2 Coastal Mission Trail Improvement 20,812
CFD 2005-6 City Center Townhomes
CFD 2006-2 Viscaya
141,442
307,720
917,106
172,481
329,914
785,899
3,037
CFD 2004-3 Area 1 Rosetta Canyon Improvement Area
CFD 2006-1 IA-HH Summerly Improvement
CFD 2005-1 Serenity
CFD 2005-2 Alberhill Ranch Improvement Area
CFD 2005-4 Lakeview Villas
CFD 2006-4 Clurman 126,650
CFD 2006-6 Tessara 42,779
CFD 2006-8 Running Deer Estates
CFD 2003-2 Area B Canyon Hills Improvement Area
CFD 2004-3 Area 2 Rosetta Canyon Improvement Area
CFD 2007-4 Mekenna Court
57,081
981,160
937,820
79,800
CFD 2007-5 Red Kite 58,019
CFD 2007-6 Holiday Inn Express
CFD 2003-2 Area C Canyon Hills Improvement Area
CFD 95-1 City Center
2,631
376,790
49,931
CFD 2005-5 (2012A) Wasson Canyon
CFD 2018-1 Wasson Canyon II Improvement Area
CFD 2018-2 Nichols Ranch Improvement Area
CFD 2018-3 Village at Lakeshore
Capital Improvement Plan
140,478
1,879
92,708
169,300
6,541,778
827,970
62,291
Successor To RDA Area I, II, & III
Endowment Trust - Carl Graves
Endowment Trust - Korn Memorial
Public Improvement Trust
34,823
1,773,370
Mobile Source Air Polution Reduction 75,257
Trust Deposit & Pre Paid Expense
Successor Agency Housing
1,570,414
34,951,818
620
631
655
Cost Recovery System 7,566,036
508,669
14,742
Lake Destratification Equipment Replacement
CFD 2015-1s Law, Fire, Paramedic Services
Total Pooled Cash & Investments $ 124,862,739

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 JANUARY 31, 2024

MAXIMUM

PERCENTAGE

DIVERSIFICATION

PERCENTAGE

CURRENT

TYPES OF SECURITIES BALANCE
CAMP - Pooled Sweep Account
U.S. Treasury Bond / Note
Unlimited
Unlimited
30%

0.19% $
$
$
$
$
191,349

21.77%

0.61%
22,477,966
Supra-National Agency Bond / Note 634,530
Municipal Bond / Note Unlimited
40%

1.49% 1,536,023
Federal Agency Collaterized Mortgage Obligation 6.76% 6,983,775 (1) Federal Agency Bond / Note
Corporate Note
Unlimited
30%

2.19%

11.57%

0.87%

5.18%
$
$
$
$
2,266,362
11,943,094
Negotiable Certificates of Deposit 900,000
Asset-Backed Security / Collaterized Mortgage
30%
20% 5,349,105
(2) LAIF (Local Agency Investment Funds)
TOTAL
$150 Million 49.37% $
$
50,976,822
100.00% 103,259,025
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
PMIA/LAIF Performance Report
as of 2/14/24
PMIA Average Monthly
Effective Yields(1)
Quarterly Performance
Quarter Ended 12/31/23
(2) LAIF Apportionment Rate : 4.00 January
December
November
October
September
August

4.012

3.929

3.843

3.670

3.534

3.434
(2) 0.00010932476863589

0.29 0.993543131

3.96 3.81
LAIF Earnings Ratio :
(1)* LAIF Administrative Cost :
(1) LAIF Fair Value Factor :
(1) PMIA Daily :
(1) PMIA Quarter to Date :
(1) PMIA Average Life : 230
Pooled Money Investment Account
Monthly Portfolio Composition (1)
1/31/24
$165.8 billion
Corporate
Bonds

0.37%
Commercial
Paper Time
Deposits

3.13%
Loans

0.20%

5.91%
Certificates of
Deposit/Bank Notes

8.98%
Treasuries

58.88%
Agencies

22.53%
Chart does not include $2,112,000.00 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.

Source:
(1) State of California, Office of the Treasurer
(2) State of Calfiornia, Office of the Controller

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 JANUARY 31, 2024
Yield Purchase Date
Daily
Maturity Rate

4.012% 24-Hour
Investment Beginning Balance Net Increase/(Decrease) Ending Balance 50,976,822
Total Investments Held with
Local Agency Investment Fund: $ 43,522,208 $ 7,454,614 $ Note:

Per California State Treasurer, LAIF Statute 16429.1: Separate accounts for each governmental unit shall be maintained.

CAMP
Investment Portfolio
Account Statement - Transaction Summary

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending January 31, 2024
CAMP Pool Asset Summary
Opening Market Value
Purchases
Redemptions
Unsettled Trades
Change in Value
116,772.96
1,253,766.61
(1,179,190.52)

0.00 January 31, 2024 December 31, 2023
CAMP Pool 191,349.05 116,772.96
CAMP Managed Account 51,870,987.01 51,767,158.04

0.00 Total $52,062,336.06 $51,883,931.00
Closing Market Value
Cash Dividends and Income
CAMP Managed Account
$191,349.05
Asset Allocation 477.89
CAMP Pool

0.37%
Opening Market Value
Purchases
Redemptions
Unsettled Trades
Change in Value
51,767,158.04
1,170,501.95
(1,113,414.15)

0.00 46,741.17
Closing Market Value $51,870,987.01
Cash Dividends and Income 98,302.99
CAMP Managed
Account

99.63%

Page 1 ends

Managed Account Summary Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending January 31, 2024
Transaction Summary - Money Market
Opening Market Value
Transaction Summary - Managed Account Account Total
$116,772.96 Opening Market Value $51,767,158.04 Opening Market Value $51,883,931.00 Purchases
Redemptions
1,253,766.61
(1,179,190.52)
Maturities/Calls (49,498.15)
(1,063,916.00)
1,170,501.95

0.00 Principal Dispositions
Principal Acquisitions
Unsettled Trades
Change in Current Value 46,741.17
_______________________________________________ _______________________________________________ ____________________________________________________ Closing Market Value $191,349.05 Closing Market Value $51,870,987.01 Closing Market Value $52,062,336.06 Dividend 477.89
Earnings Reconciliation (Cash Basis) - Managed Account Cash Balance Interest/Dividends/Coupons Received
Less Purchased Interest Related to Interest/Coupons
Plus Net Realized Gains/Losses
139,249.57
(4,478.48)
(36,468.10)
Closing Cash Balance $0.00
Total Cash Basis Earnings $98,302.99
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
52,436,031.88
240,417.99
1,071,014.44
49,498.15
132,151.13
(1,174,980.43)
(52,381,236.70)
(253,286.16)

0.00 52,627,380.93
240,417.99
2,250,204.96
49,498.15
Maturities/Calls
Sale Proceeds
Coupon/Interest/Dividend Income
Principal Payments
Security Purchases

0.00 1,071,014.44
132,151.13
49,498.15
(1,174,980.43)
(77,683.29)

0.00 132,151.13
(2,428,747.04) Net Cash Contribution
(52,498,009.66) Reconciling Transactions
(253,286.16)
477.89
Total Accrual Basis Earnings $119,610.30 $120,088.19

Page 2 ends

Portfolio Summary and Statistics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending January 31, 2024
Account Summary Sector Allocation
Description Par Value Market Value Percent
ABS

10.28%
Cert of Deposit

1.74%
Corporate Note

22.43%
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
23,850,000.00
635,000.00
1,535,000.00
7,117,846.96
22,630,304.64
616,686.60
1,476,458.80
7,078,985.95

43.46 1.18

2.84 US TSY Bond / Note

43.46%

13.60 2,275,000.00
11,965,000.00
900,000.00
5,349,837.24
53,627,684.20
2,133,512.55
11,676,188.69
907,860.36
5,350,989.42
51,870,987.01 99.63%
240,417.99
52,111,405.00
191,349.05
52,302,754.05 100.00%

4.10 22.43

1.74 Fed Agy Bond /
Note

4.10%
Federal Agency
Commercial
Mortgage-Backed
Security

10.28 Supra-National
Agency Bond / Note

1.18%
Muni Bond / Note
Total Portfolio 2.84%
CAMP Pool
Total Investments
53,627,684.20
191,349.05
53,819,033.25

0.37 Joint Powers
Authority

0.37%

13.60%
Unsettled Trades 0.00 0.00
Maturity Distribution Characteristics

36.25% Yield to Maturity at Cost 3.54%

4.33%
1056
Yield to Maturity at Market
Weighted Average Days to Maturity

22.91%

19.30%

15.36%

3.36% 2.82%

0.00%
0 - 6 Months 6 - 12 Months 1 - 2 Years 2 - 3 Years 3 - 4 Years 4 - 5 Years Over 5 Years

Page 3 ends

Managed Account Issuer Summary

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending January 31, 2024
Issuer Summary Credit Quality (S&P Ratings)
Market Value
of Holdings
222,757.43
451,686.05
966,306.41
395,019.60
740,178.48
790,909.81
448,790.45
228,849.95
367,781.63
79,901.70
191,349.05
733,667.28
246,160.20
209,105.33
98,511.00
392,078.82
411,172.69
63,766.43
778,422.00
382,768.50
859,228.07
1,482,009.15
140,804.40
353,199.18
295,092.10
129,460.60
7,589,684.95
221,067.23
329,986.11
396,936.00
169,571.63
24,407.63
Issuer

ABBOTT LABORATORIES
AMAZON.COM INC
Percent

0.43 0.87

1.86 0.76

1.42 1.52

0.86 0.44

0.71 0.15

0.37 1.41

0.47 0.40

0.19 0.75

0.79 0.12

1.50 0.74

1.65 2.84

0.27 0.68

0.57 0.25

14.57 0.42

0.63 0.76

0.33 0.05
A
NR

2.40%
BBB+

1.45%
AAAm

0.37%
AAA

11.48%
AA3.56%

4.53%
A+

3.11%
A6.62%
AA

3.64%

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

GOLDMAN SACHS GROUP INC

HARLEY-DAVIDSON MOTORCYCLE TRUST

HOME DEPOT INC
AA+

62.84%

Page 4 ends

Managed Account Issuer Summary

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending January 31, 2024
Market Value
of Holdings
473,159.37
67,830.55
Issuer Percent

0.91 0.13

0.43 1.18

0.92 0.12

0.25 1.40

0.77 1.42

0.74 0.59

0.49 0.87

0.33 0.77

0.24 0.39

0.11 0.18

0.07 0.17

1.25 0.75

0.88 1.42

43.46 0.40

0.16 0.42

HONDA AUTO RECEIVABLES

HYUNDAI AUTO RECEIVABLES

IBM CORP

INTER-AMERICAN DEVELOPMENT BANK

JP MORGAN CHASE & CO

LOCKHEED MARTIN CORP

LOS ANGELES COMMUNITY COLLEGE DISTRICT

MICROSOFT CORP
222,804.00
616,686.60
479,667.59
60,048.00
132,008.80
731,166.75
398,493.60
736,748.50
384,891.15
309,656.75
256,954.08
450,826.65
169,439.55
398,624.55
123,038.50
203,922.00
59,171.40

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

ROCHE HOLDINGS INC

SAN JUAN UNIFIED SCHOOL DISTRICT

STATE OF CALIFORNIA

STATE OF CONNECTICUT

STATE OF MINNESOTA

TARGET CORP
94,370.00
37,395.92
TEXAS INSTRUMENTS INC 85,927.35

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
650,651.14
392,135.60
457,033.71
738,022.55
22,630,304.64
208,744.65
80,786.55
221,195.70
Total $52,062,336.06 100.00%

Page 5 ends

Managed Account Detail of Securities Held

US TREASURY NOTES
DTD 12/31/2019 1.750% 12/31/2024
912828YY0
912828ZW3
91282CBW0
91282CBW0
91282CCP4
91282CCP4
91282CCP4
91282CCP4
91282CCP4
91282CCP4
912828U24
912828U24
912828U24
912828U24
50,000.00 AA+
150,000.00 AA+
75,000.00 AA+
775,000.00 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+
975,000.00 AA+
2,100,000.00 AA+
9,500,000.00 AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
08/05/20
04/01/21
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
01/04/23
12/05/22
01/13/23
08/07/20
04/05/21
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
01/06/23
12/07/22
01/17/23
53,441.41 0.18
147,093.75 0.72
71,458.01 1.92
756,109.37 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
907,092.77 3.96
1,954,066.41 3.92
8,922,578.13 3.72

76.92 32.97
50,715.27
149,032.50
73,111.40
48,640.63
141,421.88
69,585.94

US TREASURY NOTES
DTD 06/30/2020 0.250% 06/30/2025

US TREASURY NOTES
DTD 04/30/2021 0.750% 04/30/2026
143.72
1,485.06

3.43 US TREASURY NOTES
DTD 04/30/2021 0.750% 04/30/2026
765,176.87
186,570.31
236,023.09
712,777.65
758,467.09
851,346.33
849,323.26
234,885.28
925,937.15
1,996,761.37
9,079,531.14
719,054.69
183,687.50
229,609.38
688,828.12
734,750.00
826,593.75
826,593.75
236,640.62
922,898.44
1,987,781.25
8,992,343.75

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026

4.29 US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026

12.88 US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026

13.74 US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026

15.45 US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026

15.45 US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
1,071.43
4,178.57
9,000.00
40,714.29

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026

Page 6 ends

Managed Account Detail of Securities Held

US TREASURY NOTES
DTD 04/30/2022 2.750% 04/30/2027
91282CEN7
91282CFB2
91282CFB2
91282CFB2
91282CFB2
91282CFZ9
91282CFZ9
1,200,000.00 AA+
375,000.00 AA+
600,000.00 AA+
800,000.00 AA+
825,000.00 AA+
1,175,000.00 AA+
1,200,000.00 AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
01/31/23
05/01/23
07/03/23
03/02/23
06/02/23
01/02/24
12/01/23
02/03/23
05/05/23
07/07/23
03/06/23
06/06/23
01/05/24
12/05/23
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
1,170,501.95 3.98
1,184,109.38 4.24
8,431.32

28.33 1,165,882.03
364,555.51
570,476.39
757,570.82
792,830.07
1,170,587.18
1,184,742.39
1,155,187.44
360,234.38
576,375.00
768,500.00
792,515.62
1,172,062.50
1,197,000.00

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027

45.33 US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027

60.44 US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027

62.33 US TREASURY NOTES
DTD 11/30/2022 3.875% 11/30/2027
7,837.34
US TREASURY NOTES 8,004.10
DTD 11/30/2022 3.875% 11/30/2027
Security Type Sub-Total 23,850,000.00 22,477,965.84 3.61 81,237.39 22,876,303.10 22,630,304.64 Supra-National Agency Bond / Note

INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
4581X0DZ8 635,000.00 AAA Aaa 09/15/21 09/23/21 634,530.10 0.52 1,128.89 634,899.25 616,686.60 Security Type Sub-Total
Municipal Bond / Note
635,000.00 634,530.10 0.52 1,128.89 634,899.25 616,686.60

CT ST TXBL GO BONDS
DTD 06/11/2020 1.998% 07/01/2024
20772KJW0
157411TK5
650036DT0
60,000.00 AA100,000.00 AA325,000.00 NRAa3
Aa1
NR
05/29/20
11/06/19
12/16/20
06/11/20
12/05/19
12/23/20
60,000.00 2.00
100,000.00 2.10
325,000.00 0.87

99.90 1,050.50
1,068.17
60,000.00
100,000.00
325,000.00
59,171.40
98,511.00
309,656.75

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

Page 7 ends

Managed Account Detail of Securities Held

UNIV OF CAL TXBL REV BONDS
DTD 07/16/2020 0.883% 05/15/2025
91412HGE7
341271AD6
341271AD6
341271AD6
60412AVJ9
798306WP7
54438CYK2
13077DQD7
13063D3N6
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 AAAa2
Aa3
Aa3
Aa3
Aaa
Aa2
Aaa
Aa2
Aa2
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
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
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
158.45

68.14 85,000.00
65,135.58
85,166.26
160,000.00
100,000.00
130,000.00
140,000.00
85,000.00
200,000.00
80,786.55
61,874.15
80,912.35
152,305.60
94,370.00
123,038.50
132,008.80
79,901.70
203,922.00

FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025

89.11 FL ST BOARD OF ADMIN TXBL REV BONDS
DTD 09/16/2020 1.258% 07/01/2025
167.73
315.00
553.80
541.10
183.18
4,038.33

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 1.58 8,333.41 1,535,301.84 1,476,458.80 Federal Agency Commercial Mortgage-Backed Security
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24
3137BNGT5
3137BSP72
3137BTUM1
245,996.40 AA+
275,000.00 AA+
550,000.00 AA+
378,720.49 AA+
Aaa
Aaa
Aaa
Aaa
03/19/20
04/11/23
04/06/23
05/19/23
03/25/20
04/14/23
04/12/23
05/24/23
258,180.90 1.95
263,613.28 4.37
526,839.84 4.02
367,063.00 4.31
627.70
629.06
248,160.00
266,973.11
532,500.36
369,409.34
241,445.83
265,497.60
525,849.79
367,929.60
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
FHMS K061 A2 1,056.31
DTD 01/30/2017 3.347% 11/01/2026

Page 8 ends

Managed Account Detail of Securities Held

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending January 31, 2024
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 K064 A2
DTD 05/15/2017 3.224% 03/01/2027
3137BXQY1
3137F1G44
3137HBC69
3137HAD45
3137HACX2
3136BQDE6
3137HAQ74
3137HAMH6
3137HAST4
3137HAMS2
3137HB3D4
3137HB3G7
550,000.00 AA+
550,000.00 AA+
399,541.01 AA+
438,589.06 AA+
550,000.00 AA+
550,000.00 AA+
500,000.00 AA+
800,000.00 AA+
375,000.00 AA+
500,000.00 AA+
180,000.00 AA+
275,000.00 AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
08/16/23
06/08/23
12/06/23
07/19/23
07/13/23
07/18/23
10/11/23
09/07/23
10/25/23
09/20/23
11/14/23
11/28/23
08/18/23
06/13/23
12/14/23
07/27/23
07/20/23
07/31/23
10/19/23
09/14/23
10/31/23
09/28/23
11/21/23
12/07/23
518,804.69 4.98
527,033.20 4.44
399,537.81 4.86
438,578.12 4.78
555,493.40 4.59
540,675.78 4.58
489,032.00 5.26
788,165.60 4.99
363,043.88 5.60
494,023.50 5.07
179,479.62 5.14
274,209.93 4.93
1,477.67
1,486.38
1,617.48
1,745.95
2,208.71
1,920.42
1,975.00
3,100.00
1,515.63
2,000.00
760.35
522,840.02
530,888.58
399,537.90
438,579.29
554,887.83
541,635.70
489,610.89
788,988.51
363,591.81
494,391.73
179,498.04
274,231.89
531,628.48
531,290.50
403,660.41
440,697.66
557,391.69
545,624.05
506,434.29
807,847.71
381,413.23
507,480.72
184,748.82
280,045.57

FHLMC MULTIFAMILY STRUCTURED P
DTD 07/01/2017 3.243% 04/01/2027
FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
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 K508 A2
DTD 10/01/2023 4.740% 08/01/2028
FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
FHMS K511 A2 1,113.75
DTD 12/01/2023 4.860% 10/01/2028
Security Type Sub-Total 7,117,846.96 6,983,774.55 4.69 24,450.37 6,995,725.00 7,078,985.95 Federal Agency Bond / Note

Page 9 ends

Managed Account Detail of Securities Held

FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025
3137EAEU9
3135G05X7
3130AK5E2
3137EAEX3
3135G06G3
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
07/21/20
08/25/20
09/10/20
09/23/20
11/09/20
07/23/20
08/27/20
09/11/20
09/25/20
11/12/20
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

44.27 568.75
229.69
933.33
758.33
424,378.05
349,487.23
149,856.27
699,306.91
649,175.77
400,609.25
328,769.00
140,804.40
655,713.80
607,616.10

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

FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
Security Type Sub-Total
Corporate Note
2,275,000.00 2,266,361.50 0.49 2,534.37 2,272,204.23 2,133,512.55

CHARLES SCHWAB CORP NOTES
(CALLABLE)
DTD 03/18/2021 0.750% 03/18/2024
808513BN4
06406RAS6
105,000.00 A- A2
A1
03/16/21
04/19/21
03/18/21
04/26/21
104,947.50 0.77 290.94 104,997.80 104,357.82

BANK OF NY MELLON CORP NOTES
(CALLABLE)
210,000.00 A 209,775.30 0.54 277.08 209,982.57 207,661.86 DTD 04/26/2021 0.500% 04/26/2024

MORGAN STANLEY CORP NOTES
DTD 04/28/2014 3.875% 04/29/2024
61746BDQ6
02665WCZ2
38141EC23
400,000.00 A400,000.00 A400,000.00 BBB+A1
A3
A2
07/19/19
07/11/19
07/08/19
07/23/19
07/15/19
07/11/19
422,916.00 2.59
398,016.00 2.51
418,632.00 2.84
3,961.11
906.67
983.89
401,157.64
399,838.78
400,720.34
398,493.60
395,019.60
396,936.00

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
05565EBU8 70,000.00 A A2 08/09/21 08/12/21 69,993.70 0.75 246.46 69,998.89 68,266.45

Page 10 ends

Managed Account Detail of Securities Held

WALT DISNEY COMPANY/THE (CALLABLE)
DTD 09/06/2019 1.750% 08/30/2024
254687FK7
69371RQ66
400,000.00 A175,000.00 A+A2
A1
09/03/19
10/22/20
09/06/19
10/29/20
398,368.00 1.84
182,894.25 0.73
2,936.11
1,531.25
399,810.80
176,876.21
392,135.60
PACCAR FINANCIAL CORP CORPORATE 169,439.55
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
17252MAP5
80,000.00 BBB+
410,000.00 AA
A2
Aa2
A2
03/01/22
03/03/22
03/24/22
04/26/22
03/04/22
03/10/22
03/28/22
05/03/22
79,919.20 2.29
410,000.00 2.13
24,956.25 2.76
64,985.70 3.46
735.00
3,423.64
198.75
79,970.73
410,000.00
24,982.76
64,994.05
77,442.80
398,624.55
24,407.63
63,766.43

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
25,000.00 A
CINTAS CORPORATION NO. 2 CORP NOTE
(CALL
65,000.00 A- A3 560.63
DTD 05/03/2022 3.450% 05/01/2025

USAA CAPITAL CORP CORPORATE NOTES
DTD 05/26/2022 3.375% 05/01/2025
90327QD89
369550BG2
225,000.00 AA
225,000.00 AAa1A3
05/23/22
10/16/20
05/26/22
10/20/20
224,264.25 3.49
252,247.50 0.80
1,898.44
1,662.50
224,687.43
231,917.85
221,195.70
GENERAL DYNAMICS CORP (CALLABLE) 221,067.23

CORP NO
DTD 05/11/2018 3.500% 05/15/2025

JPMORGAN CHASE & CO (CALLABLE) CORP
NOTE
46647PCH7 315,000.00 A- A1 05/24/21 06/01/21 315,000.00 0.82 432.60 315,000.00 309,748.01 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
612.22 474,937.73
250,000.00
451,686.05
NATIONAL AUSTRALIA BK/NY CORPORATE 245,520.50
NOTES
Aa3 1,263.89
DTD 06/09/2022 3.500% 06/09/2025

Page 11 ends

Managed Account Detail of Securities Held

NATIONAL RURAL UTIL COOP CORPORATE
NOTES
63743HFE7 50,000.00 A- A2 04/27/22 05/04/22 49,986.50 3.46 220.42 49,994.07 48,959.40 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
100.00
4,359.38
3,293.75
225,000.00
234,662.10
234,542.56
222,804.00
221,553.45
222,757.43

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
05565EBW4
14913R2U0
225,000.00 A175,000.00 A225,000.00 A+A1
A1
A2
A2
A2
12/01/21
02/16/22
05/17/21
08/12/21
01/11/22
12/06/21
02/24/22
05/19/21
08/16/21
01/13/22
225,000.00 1.53
175,000.00 2.60
224,608.50 1.19
174,947.50 1.26
223,863.75 1.81
525.94
1,980.49
546.25
225,000.00
175,000.00
224,820.80
174,973.40
224,331.10
217,100.48
169,919.58
208,744.65
160,583.50
209,105.33

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

BMW US CAPITAL LLC (CALLABLE)

CORPORATE
DTD 08/12/2021 1.250% 08/12/2026
175,000.00
225,000.00
A
A
1,026.91
CATERPILLAR FINL SERVICE CORPORATE 244.38
NOTES
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

34.67 39,959.62 37,395.92

BANK OF NY MELLON CORP (CALLABLE)
CORPOR
475,000.00 135.24 474,369.84 442,989.28
DTD 01/26/2022 2.050% 01/26/2027

Page 12 ends

Managed Account Detail of Securities Held

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
12,031.25
3,123.75
728,276.16
282,940.09
731,166.75
AMERICAN EXPRESS CO CORP NOTES 281,088.00
(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
4,127.22
3,300.00
2,820.28
469,440.40
288,384.51
491,085.34
448,790.45
287,721.00
491,228.00

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
8,677.85
915.36
748,559.82
376,028.43
740,178.48
TOYOTA MOTOR CREDIT CORP CORPORATE 377,454.38
NOTES
DTD 01/12/2023 4.625% 01/12/2028

NATIONAL RURAL UTIL COOP CORP NOTES
(CAL
DTD 02/07/2018 3.400% 02/07/2028
637432NP6
882508BV5
110122DE5
350,000.00 A85,000.00 A+A1
Aa3
A2
02/17/23
05/11/23
03/09/23
02/22/23
05/18/23
03/13/23
329,189.00 4.76
87,043.40 4.04
358,263.75 4.93
5,751.67
1,802.94
6,540.63
333,142.06
86,732.63
361,277.20
335,931.75
85,927.35
367,781.63

TEXAS INSTRUMENTS INC CORP NOTE
(CALLABL
DTD 11/18/2022 4.600% 02/15/2028

BRISTOL-MYERS SQUIBB CO CORP NOTES
(CALL
375,000.00 A
DTD 07/15/2020 3.900% 02/20/2028

Page 13 ends

Managed Account Detail of Securities Held

LOCKHEED MARTIN CORP NOTES
(CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028
539830BZ1 60,000.00 A- A2
A2
05/23/23 05/25/23
07/25/23
10/04/23
59,892.00 4.49
377,865.00 4.78
746,280.00 5.92
563.67
876.56
59,906.98 60,048.00

JOHN DEERE CAPITAL CORP CORPORATE
NOTES
DTD 07/14/2023 4.950% 07/14/2028
24422EXB0
17325FBB3
375,000.00 A 07/21/23
10/02/23
377,563.67 382,768.50

CITIBANK NA CORP NOTES (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
750,000.00 A+ Aa3 14,749.29 746,493.96 778,422.00
Security Type Sub-Total
Certificate of Deposit
11,965,000.00 11,943,093.55 3.12 99,669.08 11,872,358.32 11,676,188.69

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 6,930.00 450,000.00 457,033.71

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 6,083.00 450,000.00 450,826.65 Security Type Sub-Total
Asset-Backed Security
900,000.00 900,000.00 5.56 13,013.00 900,000.00 907,860.36 HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7
65480BAC1
89190GAC1
43815GAC3
14314QAC8
18,336.11 AAA
120,292.16 AAA
118,768.93 AAA
64,458.89 NR
39,613.16 AAA
NR
Aaa
NR
04/20/21
06/15/21
06/08/21
11/16/21
04/13/21
04/28/21
06/23/21
06/14/21
11/24/21
04/21/21
18,334.18 0.38
120,290.11 0.33
118,756.13 0.26
64,445.31 0.89
39,604.61 0.52

3.10 17.64

13.72 15.76

9.16 18,335.40
120,291.35
118,763.75
64,452.45
39,609.54
18,111.80
117,960.53
116,441.33
62,704.24
38,806.77
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
Aaa
CARMX 2021-2 A3 NR
DTD 04/21/2021 0.520% 02/17/2026

Page 14 ends

Managed Account Detail of Securities Held

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending January 31, 2024
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
HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
44935FAD6
254683CP8
362554AC1
14318MAD1
65480JAC4
36265QAD8
891940AC2
14041NGB1
41285JAD0
344928AD8
43815QAC1
254683CY9
05522RDG0
02582JJZ4
50,986.18 AAA
195,000.00 AAA
57,381.81 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
320,000.00 AAA
320,000.00 NR
170,000.00 AAA
190,000.00 AAA
NR
Aaa
Aaa
NR
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
08/15/23
04/04/23
06/08/23
06/07/23
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
08/22/23
04/11/23
06/16/23
06/14/23
50,974.79 0.75
194,958.25 0.58
57,380.34 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
319,934.02 5.42
319,981.44 4.31
169,961.51 4.79
189,983.15 4.87

16.77 50.27
50,980.39
194,977.97
57,381.02
49,718.75
189,486.96
55,549.12
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

16.26 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
625.16
612.98
361.91
411.24
209,996.65
139,979.44
274,967.08
244,999.91
244,971.24
169,986.22
129,988.78
319,940.57
319,984.49
169,966.44
189,985.33
207,353.43
138,993.55
274,436.99
244,126.84
245,235.13
169,571.63
129,460.60
323,708.38
317,074.11
170,223.57
190,618.98
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
HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
NR
DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
Aaa
BACCT 2023-A1 A1 NR
DTD 06/16/2023 4.790% 05/15/2028
AMXCA 2023-1 A NR
DTD 06/14/2023 4.870% 05/15/2028

Page 15 ends

Managed Account Detail of Securities Held

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending January 31, 2024
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
COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
14041NGD7
254683CZ6
438123AC5
31680EAD3
161571HT4
02582JKD1
05522RDH8
490,000.00 AAA
350,000.00 AAA
85,000.00 NR
350,000.00 AAA
405,000.00 AAA
410,000.00 AAA
180,000.00 NR
NR
Aaa
Aaa
Aaa
NR
05/17/23
06/21/23
11/01/23
08/15/23
09/07/23
09/12/23
12/07/23
05/24/23
06/28/23
11/08/23
08/23/23
09/15/23
09/19/23
12/14/23
489,887.64 4.43
349,952.72 4.93
84,985.03 5.67
349,978.30 5.53
404,887.73 5.17
409,981.67 5.23
179,975.83 4.98
962.58
766.89
133.88
860.22
928.80
953.02
398.40
489,903.28
349,958.40
84,985.69
488,432.15
352,667.00
86,746.75
DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
349,980.23
404,895.26
409,982.86
179,976.40
353,199.18
411,172.69
417,156.63
182,032.31
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
NR
BACCT 2023-A2 A2 Aaa
DTD 12/14/2023 4.980% 11/15/2028
Security Type Sub-Total 5,349,837.24
53,627,684.20
5,349,104.52 4.36

3.54 10,051.48 5,349,240.14
52,436,031.88
5,350,989.42
Managed Account Sub-Total 51,870,987.01
Joint Powers Authority
CAMP Pool
52,090,853.16 240,417.99
191,349.05 AAAm NR 191,349.05 0.00 191,349.05 191,349.05 Liquid Sub-Total 191,349.05 191,349.05 0.00 191,349.05 191,349.05 Securities Sub-Total
Accrued Interest
Total Investments
$53,819,033.25 $52,282,202.21 3.54% $240,417.99 $52,627,380.93 $52,062,336.06 $240,417.99
$52,302,754.05

Page 16 ends

Managed Account Fair Market Value & Analytics

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 04/30/2021 0.750% 04/30/2026

US TREASURY 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 04/30/2022 2.750% 04/30/2027

US TREASURY NOTES
912828YY0
912828ZW3
91282CBW0
91282CBW0
91282CCP4
91282CCP4
91282CCP4
91282CCP4
91282CCP4
91282CCP4
912828U24
912828U24
912828U24
912828U24
91282CEN7
91282CFB2
91282CFB2
50,000.00 WELLS_F
150,000.00 GOLDMAN
75,000.00 BMO

97.28 94.28

92.78 92.78

91.84 91.84

94.66 94.66

96.27 96.06

96.06 48,640.63
141,421.88
69,585.94
(4,800.78)
(5,671.87)
(1,872.07)
(37,054.68)
4,679.69
(2,074.64)
(7,610.62)
(3,525.46)
(46,122.18)
(2,882.81)
(6,413.71)
(23,949.53)
(23,717.09)
(24,752.58)
(22,729.51)
1,755.34

0.91 1.41

2.23 2.23

2.48 2.48

2.71 2.71

3.10 3.36

3.36 4.82

4.47 4.15

4.15 4.09

4.09 4.09

4.09 4.04

4.04 4.04

4.04 3.99

3.97 3.97
775,000.00 CITIGRP
200,000.00 BMO
719,054.69
183,687.50
229,609.38
688,828.12
734,750.00
826,593.75
826,593.75
236,640.62
922,898.44
1,987,781.25
8,992,343.75
1,155,187.44
360,234.38
576,375.00
250,000.00 HSBC 3,359.38
750,000.00 BMO (1,640.63)
800,000.00 HSBC 2,406.25
900,000.00 MERRILL
900,000.00 BMO
7,558.59
7,031.25
250,000.00 BMO 8,496.09
975,000.00 BMO 15,805.67
33,714.84
69,765.62
(234.44)
(3,038.71)
(8,980.12)
(87,187.39)
(10,694.59)
(4,321.13)
5,898.61
2,100,000.00 HSBC
9,500,000.00 JPM_CHA
1,200,000.00 BNP_PAR
375,000.00 MORGAN_
600,000.00 CITIGRP
(2,094.72)
10,734.37
DTD 07/31/2022 2.750% 07/31/2027

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027

Page 17 ends

Managed Account Fair Market Value & Analytics

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027

US TREASURY NOTES
DTD 11/30/2022 3.875% 11/30/2027

US TREASURY NOTES
91282CFB2
91282CFB2
91282CFZ9
91282CFZ9
800,000.00 BMO
825,000.00 HSBC

96.06 96.06

99.75 99.75
768,500.00
792,515.62
21,968.75
5,736.32
1,560.55
12,890.62
10,929.18
(314.45)
1,475.32
12,257.61

3.36 3.36

3.57 3.57

3.97 3.97

3.94 3.94
1,175,000.00 CITIGRP
1,200,000.00 HSBC
1,172,062.50
1,197,000.00
DTD 11/30/2022 3.875% 11/30/2027
Security Type Sub-Total 23,850,000.00 22,630,304.64 152,338.80 (245,998.46) 2.83 4.04 Supra-National Agency Bond / Note

INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
4581X0DZ8 635,000.00 JPM_CHA 97.12 616,686.60 (17,843.50) (18,212.65) 0.65 5.09 Security Type Sub-Total
Municipal Bond / Note
635,000.00 616,686.60 (17,843.50) (18,212.65) 0.65 5.09 CT ST TXBL GO BONDS 20772KJW0
157411TK5
650036DT0
91412HGE7
341271AD6
341271AD6
341271AD6
60412AVJ9
60,000.00 SIEBERT
100,000.00 RBC

98.62 98.51

95.28 95.04

95.19 95.19

95.19 94.37
59,171.40
98,511.00
309,656.75
80,786.55
61,874.15
80,912.35
152,305.60
94,370.00
(828.60)
(1,489.00)
(15,343.25)
(4,213.45)
(3,585.40)
(4,651.20)
(7,694.40)
(5,630.00)
(828.60)
(1,489.00)
(15,343.25)
(4,213.45)
(3,261.43)
(4,253.91)
(7,694.40)
(5,630.00)

0.42 0.50

1.12 1.20

1.41 1.41

1.41 1.49

5.36 5.14

5.25 4.89

4.80 4.80

4.80 4.55
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

MN ST TXBL GO BONDS
325,000.00 WELLS_F
85,000.00 JPM_CHA
65,000.00 MERRILL
85,000.00 MERRILL
160,000.00 MERRILL
100,000.00 MORGAN_
04/15/25
DTD 08/25/2020 0.630% 08/01/2025

Page 18 ends

Managed Account Fair Market Value & Analytics

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
798306WP7
54438CYK2
13077DQD7
13063D3N6
130,000.00 KEYBANC
140,000.00 MERRILL
85,000.00 JPM_CHA
200,000.00 WELLS_F

94.65 94.29
123,038.50
132,008.80
79,901.70
203,922.00
(6,961.50)
(7,991.20)
(5,098.30)
3,922.00
(6,961.50)
(7,991.20)
(5,098.30)
3,922.00

1.49 1.49

1.74 2.85

4.58 4.75

4.46 4.16

94.00 DTD 07/29/2021 0.862% 11/01/2025
CA ST MUNICIPAL BONDS 101.96
DTD 03/15/2023 4.846% 03/01/2027
Security Type Sub-Total 1,535,000.00 1,476,458.80 (59,564.30) (58,843.04) 1.47 4.80 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 KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
FHMS K505 A2
3137BGK24
3137BNGT5
3137BSP72
3137BTUM1
3137BXQY1
3137F1G44
3137HBC69
3137HAD45
3137HACX2
3136BQDE6
3137HAQ74
245,996.40 CITIGRP
275,000.00 BAIRD
550,000.00 BREAN
378,720.49 CITIGRP
550,000.00 MORGAN_
550,000.00 CITIGRP
399,541.01 JPM_CHA
438,589.06 JPM_CHA
550,000.00 JPM_CHA
550,000.00 JPM_CHA
500,000.00 BMO

98.15 96.54

95.61 97.15

96.66 96.60
101.03
100.48
101.34

99.20 101.29
241,445.83
265,497.60
525,849.79
367,929.60
531,628.48
531,290.50
403,660.41
440,697.66
557,391.69
545,624.05
506,434.29
(16,735.07)
1,884.32
(990.05)
866.60
(6,714.17)
(1,475.51)
(6,650.57)
(1,479.74)
8,788.46
401.92

0.80 1.76

2.37 2.48

2.77 2.91

3.44 3.02

3.79 3.95

3.95 5.33

4.63 4.51

4.45 4.38

4.39 4.59

4.65 4.48

4.39 4.42
12,823.79
4,257.30
4,122.60
2,119.54
1,898.29
4,948.27
17,402.29
4,122.51
2,118.37
2,503.86
3,988.35
16,823.40
DTD 07/01/2023 4.819% 06/01/2028
FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028

Page 19 ends

Managed Account Fair Market Value & Analytics

3.93 4.02

3.98 4.04

4.08 4.41

4.44 4.44

4.44 4.42
DTD 11/01/2023 5.069% 10/01/2028
FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
Security Type Sub-Total 7,117,846.96 7,078,985.95 95,211.40 83,260.95 3.31 4.49 Federal Agency Bond / Note

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

FANNIE MAE NOTES
3137EAEU9
3135G05X7
3130AK5E2
3137EAEX3
3135G06G3
425,000.00 WELLS_F
350,000.00 BARCLAY
150,000.00 WELLS_F
700,000.00 CITIGRP
650,000.00 BARCLAY

94.26 93.93

93.87 93.67

93.48 400,609.25
328,769.00
140,804.40
655,713.80
607,616.10
(22,274.25)
(19,593.00)
(8,745.60)
(42,179.20)
(40,056.90)
(23,768.80)
(20,718.23)
(9,051.87)
(43,593.11)
(41,559.67)

1.47 1.56

1.59 1.64

1.76 4.44

4.42 4.40

4.40 4.37
DTD 11/12/2020 0.500% 11/07/2025
Security Type Sub-Total
Corporate Note
2,275,000.00 2,133,512.55 (132,848.95) (138,691.68) 1.63 4.40

CHARLES SCHWAB CORP NOTES
(CALLABLE)
DTD 03/18/2021 0.750% 03/18/2024

BANK OF NY MELLON CORP NOTES
(CALLABLE)
808513BN4
06406RAS6
105,000.00 CSFB 02/18/24
03/26/24

99.39 98.89
104,357.82
207,661.86
(589.68) (639.98) 0.05

0.16 5.36
210,000.00 JPM_CHA (2,113.44) (2,320.71) 5.21
DTD 04/26/2021 0.500% 04/26/2024

Page 20 ends

Managed Account Fair Market Value & Analytics

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

99.62 98.75

99.23 398,493.60
395,019.60
396,936.00
(24,422.40)
(2,996.40)
(21,696.00)
(2,664.04)
(4,819.18)
(3,784.34)

0.25 0.41

0.19 5.37

5.51 04/08/24 5.63
07/30/24
05565EBU8
254687FK7
69371RQ66
70,000.00 GOLDMAN
400,000.00 JPM_CHAS
175,000.00 MERRILL

97.52 98.03

96.82 68,266.45
392,135.60
169,439.55
(1,727.25)
(6,232.40)
(13,454.70)
(1,732.44)
(7,675.20)
(7,436.66)

0.53 0.50

1.00 5.53

5.21 5.05
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
CINTAS CORPORATION NO. 2 CORP NOTE
(CALL
025816CQ0
771196BT8
437076CM2
17252MAP5
80,000.00 BARCLAY
410,000.00 DEUTSCH
25,000.00 MORGAN_
65,000.00 KEYBANC
02/01/25
02/10/25
03/15/25
04/01/25

96.80 97.23

97.63 98.10
77,442.80
398,624.55
24,407.63
63,766.43
(2,476.40)
(11,375.45)
(548.62)
(2,527.93)
(11,375.45)
(575.13)

0.99 1.01

1.11 1.15

5.29 4.72

4.74 (1,219.27) (1,227.62) 5.03
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
90327QD89
369550BG2
225,000.00 MERRILL
225,000.00 JPM_CHA

98.31 98.25
221,195.70
221,067.23
(3,068.55) (3,491.73) 1.23

1.10 4.78
03/15/25 4.91
06/01/24
(31,180.27) (10,850.62)
46647PCH7 315,000.00 JPM_CHA 98.33 309,748.01 (5,251.99) (5,251.99) 0.34 2.10 DTD 06/01/2021 0.824% 06/01/2025

Page 21 ends

Managed Account Fair Market Value & Analytics

AMAZON INC CORP NOTES (CALLABLE)
DTD 06/03/2020 0.800% 06/03/2025

NATIONAL AUSTRALIA BK/NY CORPORATE
NOTES
023135BQ8
63254ABD9
475,000.00 GOLDMAN
250,000.00 CITIGRP
05/03/25 95.09

98.21 451,686.05
245,520.50
(23,081.20)
(4,479.50)
(23,251.68)
(4,479.50)

1.25 1.33

4.61 4.88
DTD 06/09/2022 3.500% 06/09/2025

NATIONAL RURAL UTIL COOP CORPORATE
NOTES
63743HFE7 50,000.00 RBC 97.92 48,959.40 (1,027.10) (1,034.67) 1.35 5.03 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)
DTD 12/06/2021 1.530% 12/06/2025

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

BMW US CAPITAL LLC (CALLABLE)

CORPORATE
DTD 08/12/2021 1.250% 08/12/2026

CATERPILLAR FINL SERVICE CORPORATE
NOTES
DTD 01/10/2022 1.700% 01/08/2027

TARGET CORP CORP NOTES (CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
459200KS9
06051GFS3
002824BM1
225,000.00 JPM_CHA
225,000.00 MERRILL
225,000.00 US_BANC

99.02 98.47

99.00 222,804.00
221,553.45
222,757.43
(2,196.00)
(35,365.05)
(35,088.07)
(2,196.00)
(13,108.65)
(11,785.13)

1.46 1.45

1.33 4.68

4.95 06/15/25 4.52
12/06/24
02/24/25
04/15/26
07/12/26
06051GKE8
46647PCV6
91324PEC2
05565EBW4
14913R2U0
87612EBM7
225,000.00 MERRILL
175,000.00 JPM_CHA
225,000.00 CITIGRP
175,000.00 MITSU
225,000.00 JPM_CHA
40,000.00 CITIGRP

96.49 97.10

92.78 91.76

92.94 93.49
217,100.48
169,919.58
208,744.65
160,583.50
209,105.33
37,395.92
(7,899.52)
(5,080.42)
(15,863.85)
(14,364.00)
(14,758.42)
(2,536.08)
(7,899.52)
(5,080.42)
(16,076.15)
(14,389.90)
(15,225.77)
(2,563.70)

0.85 1.05

2.18 2.40

2.87 2.80

3.51 4.07

4.50 4.74

4.28 12/15/26 4.32

Page 22 ends

Managed Account Fair Market Value & Analytics

BANK OF NY MELLON CORP (CALLABLE)
CORPOR
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)
DTD 09/24/2021 3.300% 04/01/2027

NATIONAL AUSTRALIA BK/NY CORPORATE
NOTES
06406RBA4
594918BY9
025816CS6
084664CZ2
808513BW4
63254ABE7
475,000.00 DEUTSCH
750,000.00 GOLDMAN
300,000.00 RBS
12/26/26
11/06/26
02/01/27
02/15/27
01/01/27

93.26 97.49

93.70 94.48

95.91 98.25
442,989.28
731,166.75
281,088.00
448,790.45
287,721.00
491,228.00
(30,956.22)
9,224.25
(31,380.56)
2,890.59

2.83 2.62

2.87 2.93

2.77 3.16

4.48 4.19

4.76 4.20

4.70 4.47
3,885.00 (1,852.09)
(20,649.95)
(663.51)
475,000.00 SEEL (17,298.55)
300,000.00 BARCLAY 2,796.00
500,000.00 CBAA 2,903.00 142.66
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 95.51 740,178.48
377,454.38
(884.27)
1,171.88
(8,381.34)
1,425.95

3.19 3.65

4.25 375,000.00 WELLS_F 100.65 4.44
DTD 01/12/2023 4.625% 01/12/2028

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
637432NP6
882508BV5
110122DE5
350,000.00 MORGAN_
85,000.00 JPM_CHA
375,000.00 MKTX
11/07/27
01/15/28
11/20/27

95.98 101.09

98.08 335,931.75
85,927.35
367,781.63
6,742.75
(1,116.05)
9,517.88
2,789.69
(805.28)
6,504.43

3.50 3.59

3.51 4.50

4.30 4.42
DTD 07/15/2020 3.900% 02/20/2028

Page 23 ends

Managed Account Fair Market Value & Analytics

LOCKHEED MARTIN CORP NOTES
(CALLABLE)
DTD 05/25/2023 4.450% 05/15/2028

JOHN DEERE CAPITAL CORP CORPORATE
NOTES
DTD 07/14/2023 4.950% 07/14/2028

CITIBANK NA CORP NOTES (CALLABLE)
DTD 09/29/2023 5.803% 09/29/2028
539830BZ1
24422EXB0
17325FBB3
60,000.00 BARCLAY
375,000.00 CITIGRP
750,000.00 BARCLAY
04/15/28
08/29/28
100.08
102.07
103.79
60,048.00 156.00 141.02 3.85

4.05 4.43
382,768.50 4,903.50 5,204.83 4.43
778,422.00 32,142.00 31,928.04 4.02 4.88
Security Type Sub-Total
Certificate of Deposit
11,965,000.00 11,676,188.69 (266,904.86) (196,169.63) 2.13 4.61

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 101.56
100.18
457,033.71
450,826.65
7,033.71
826.65
7,033.71
826.65

1.70 1.68

4.58 450,000.00 WELLS_F 5.41
DTD 11/03/2022 5.530% 11/03/2025
Security Type Sub-Total
Asset-Backed Security
900,000.00 907,860.36 7,860.36 7,860.36 1.69 4.99
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
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
44933LAC7
65480BAC1
89190GAC1
43815GAC3
14314QAC8
44935FAD6
18,336.11 BARCLAY
120,292.16 MITSU
118,768.93 CITIGRP
64,458.89 MERRILL
39,613.16 MERRILL
50,986.18 SMBC

98.78 98.06

98.04 97.28

97.96 97.51
18,111.80
117,960.53
116,441.33
62,704.24
38,806.77
49,718.75
(222.38)
(2,329.58)
(2,314.80)
(1,741.07)
(797.84)
(223.60)
(2,330.82)
(2,322.42)
(1,748.21)
(802.77)

0.22 0.36

0.33 0.57

0.34 0.49

1.14 1.48

1.36 2.29

1.53 (1,256.04) (1,261.64) 1.85
DTD 11/17/2021 0.740% 05/15/2026

Page 24 ends

Managed Account Fair Market Value & Analytics

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending January 31, 2024
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
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
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
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
HAROT 2023-4 A3
254683CP8
362554AC1
14318MAD1
65480JAC4
36265QAD8
891940AC2
14041NGB1
41285JAD0
344928AD8
43815QAC1
254683CY9
05522RDG0
02582JJZ4
14041NGD7
254683CZ6
438123AC5
31680EAD3
195,000.00 CITIGRP
57,381.81 JPM_CHA
210,000.00 RBC

97.17 96.81
189,486.96
55,549.12
(5,471.29)
(1,831.22)
(2,641.61)
(977.48)
(517.94)
(873.04)
273.57
(5,491.01)
(1,831.90)
(2,643.22)
(985.89)
(530.09)
(873.07)
263.89

0.61 0.61

0.96 1.24

1.15 1.36

1.59 1.51

1.59 1.81

1.97 2.11

2.10 2.11

2.18 2.08

1.88 1.68

1.93 4.39

4.70 4.88

4.74 4.92

5.12 4.76

5.09 4.55

4.76 4.79

4.50 4.74

5.15 5.30

98.74 207,353.43
138,993.55
274,436.99
244,126.84
245,235.13
169,571.63
129,460.60
323,708.38
317,074.11
170,223.57
190,618.98
488,432.15
352,667.00
86,746.75
140,000.00 WELLS_F
275,000.00 RBC

99.28 99.80
245,000.00 MERRILL
245,000.00 RBC

99.64 100.10
170,000.00 JPM_CHA 99.75
130,000.00 BNP_PAR
320,000.00 MERRILL
320,000.00 RBC
(411.25)
(525.84)
3,774.36
(2,907.33)
262.06
(414.59)
(528.18)
3,767.81
(2,910.38)
257.13

99.59 101.16

99.09 170,000.00 MERRILL
190,000.00 RBC
100.13
100.33

99.68 635.83 633.65
490,000.00 RBC (1,455.49)
2,714.28
1,761.72
3,220.88
(1,471.13)
2,708.60
1,761.06
3,218.95
350,000.00 MERRILL
85,000.00 JPM_CHA
350,000.00 JPM_CHA
100.76
102.06
100.91
DTD 11/08/2023 5.670% 06/21/2028
FITAT 2023-1 A3 353,199.18
DTD 08/23/2023 5.530% 08/15/2028

Page 25 ends

Managed Account Fair Market Value & Analytics

2.39 2.39

2.54 4.79

4.81 4.72
DTD 12/14/2023 4.980% 11/15/2028
Security Type Sub-Total 5,349,837.24 5,350,989.42
51,870,987.01
1,884.90 1,749.28 1.73

2.49 4.42
Managed Account Sub-Total 53,627,684.20 (219,866.15) (565,044.87) 4.33 Joint Powers Authority
CAMP Pool 191,349.05 1.00 191,349.05 0.00 0.00 0.00
Liquid Sub-Total 191,349.05 191,349.05 0.00 0.00 0.00
Securities Sub-Total
Accrued Interest
Total Investments
$53,819,033.25 $52,062,336.06
$240,417.99
$52,302,754.05
($219,866.15) ($565,044.87) 2.49 4.33%

Page 26 ends

Managed Account Security Transactions & Interest

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending January 31, 2024
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
01/02/24 01/05/24 US TREASURY NOTES 91282CFZ9 1,175,000.00 (1,170,501.95) (4,478.48) (1,174,980.43) DTD 11/30/2022 3.875% 11/30/2027
Transaction Type Sub-Total

INTEREST
1,175,000.00 (1,170,501.95) (4,478.48) (1,174,980.43)
01/01/24 01/01/24 FL ST BOARD OF ADMIN TXBL REV
BONDS
341271AD6 310,000.00 0.00 1,949.90 1,949.90
DTD 09/16/2020 1.258% 07/01/2025

CT ST TXBL GO BONDS
DTD 06/11/2020 1.998% 07/01/2024
FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
FHMS K064 A2
DTD 05/15/2017 3.224% 03/01/2027
FHMS K058 A2
DTD 11/09/2016 2.653% 08/01/2026
FHMS K506 A2
DTD 09/01/2023 4.650% 08/01/2028
FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028

FHLMC MULTIFAMILY STRUCTURED P
DTD 07/01/2017 3.243% 04/01/2027
FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
FNA 2023-M6 A2
DTD 07/01/2023 4.190% 07/01/2028
FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
FHMS K061 A2
01/01/24
01/01/24
01/01/24
01/01/24
01/01/24
01/01/24
01/01/24
01/01/24
01/01/24
01/01/24
01/01/24
01/01/24
01/01/24
01/01/24
01/25/24
01/25/24
01/25/24
01/25/24
01/25/24
01/25/24
01/25/24
01/25/24
01/25/24
01/25/24
01/25/24
01/25/24
20772KJW0
3137HBC69
3137HB3G7
3137BXQY1
3137BSP72
3137HAMH6
3137HB3D4
3137F1G44
3137HACX2
3137HAST4
3136BQDE6
3137HAD45
3137BTUM1
60,000.00
400,000.00
275,000.00
550,000.00
550,000.00
800,000.00
180,000.00
550,000.00
550,000.00
375,000.00
550,000.00
438,814.98
379,432.02

0.00 0.00

0.00 599.40
1,619.33
1,113.75
1,477.67
1,215.96
3,100.00
760.35
599.40
1,619.33
1,113.75
1,477.67
1,215.96
3,100.00
760.35
1,486.38
2,208.71
1,515.63
1,920.42
1,746.85
1,058.30
1,486.38
2,208.71
1,515.63
1,920.42
1,746.85
1,058.30
DTD 01/30/2017 3.347% 11/01/2026

Page 27 ends

Managed Account Security Transactions & Interest

INTEREST
01/01/24
01/01/24
01/01/24
01/01/24
01/08/24
01/25/24
01/25/24
01/25/24
01/25/24
01/08/24
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
FHMS K508 A2
DTD 10/01/2023 4.740% 08/01/2028
FHMS K507 A2
DTD 09/01/2023 4.800% 09/01/2028
FHMS K054 A2
DTD 04/20/2016 2.745% 01/01/2026

GOLDMAN SACHS GROUP INC
(CALLABLE) BONDS
3137BGK24 246,403.24
500,000.00
500,000.00
275,000.00
400,000.00

0.00 628.74 628.74
3137HAQ74
3137HAMS2
3137BNGT5
38141EC23

0.00 0.00

0.00 0.00
1,975.00
2,000.00
629.06
1,975.00
2,000.00
629.06
7,700.00 7,700.00
DTD 07/08/2014 3.850% 07/08/2024

CATERPILLAR FINL SERVICE

CORPORATE NOTES
DTD 01/10/2022 1.700% 01/08/2027

TOYOTA MOTOR CREDIT CORP

CORPORATE NOTES
DTD 01/12/2023 4.625% 01/12/2028

JOHN DEERE CAPITAL CORP

CORPORATE NOTES
01/08/24
01/12/24
01/14/24
01/08/24
01/12/24
01/14/24
14913R2U0
89236TKQ7
24422EXB0
225,000.00
375,000.00
375,000.00

0.00 0.00

0.00 1,912.50
8,671.88
9,281.25
1,912.50
8,671.88
9,281.25
DTD 07/14/2023 4.950% 07/14/2028
DCENT 2021-A1 A1
DTD 09/27/2021 0.580% 09/15/2026
CHAIT 2023-A1 A
DTD 09/15/2023 5.160% 09/15/2028
BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
NAROT 2022-B A3
DTD 09/28/2022 4.460% 05/17/2027
NAROT 2021-A A3
DTD 06/23/2021 0.330% 10/15/2025
COMET 2022-A3 A
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
254683CP8
161571HT4
05522RDH8
14041NGD7
65480JAC4
65480BAC1
14041NGB1
195,000.00
405,000.00
180,000.00
490,000.00
140,000.00
133,305.37
245,000.00

0.00 0.00

0.00 94.25
1,741.50
771.90

94.25 1,741.50
771.90
1,804.83
520.33
1,804.83
520.33

36.66 36.66
1,010.63 1,010.63
DTD 11/03/2022 4.950% 10/15/2027

Page 28 ends

Managed Account Security Transactions & Interest

INTEREST
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
CARMX 2022-3 A3
DTD 07/20/2022 3.970% 04/15/2027
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

TARGET CORP CORP NOTES
(CALLABLE)
14318MAD1 210,000.00
132,375.83
170,000.00
40,000.00

0.00 694.75 694.75
89190GAC1
05522RDG0
87612EBM7

0.00 0.00

0.00 28.68
678.58
390.00

28.68 678.58
390.00
DTD 01/24/2022 1.950% 01/15/2027
FORDO 2023-A A3
DTD 03/31/2023 4.650% 02/15/2028
FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
TAOT 2023-A A3
DTD 01/30/2023 4.630% 09/15/2027
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
HART 2021-C A3
DTD 11/17/2021 0.740% 05/15/2026
AMXCA 2023-3 A
DTD 09/19/2023 5.230% 09/15/2028
HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
GMCAR 2022-4 A3
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/16/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/15/24
01/16/24
344928AD8
31680EAD3
14314QAC8
254683CZ6
44933LAC7
891940AC2
254683CY9
02582JJZ4
44935FAD6
02582JKD1
41285JAD0
36265QAD8
130,000.00
350,000.00
44,027.41
350,000.00
21,690.17
245,000.00
320,000.00
190,000.00
55,241.14
410,000.00
170,000.00
275,000.00

0.00 0.00

0.00 0.00
503.75
1,612.92

19.08 503.75
1,612.92

19.08 1,437.92

6.87 1,437.92

6.87 945.29
1,149.33
771.08

34.07 945.29
1,149.33
771.08

34.07 1,786.92
715.42
1,104.58
1,786.92
715.42
1,104.58
DTD 10/12/2022 4.820% 08/16/2027

Page 29 ends

Managed Account Security Transactions & Interest

INTEREST
01/16/24
01/18/24
01/21/24
01/21/24
01/21/24
01/26/24
01/16/24
01/18/24
01/21/24
01/21/24
01/21/24
01/26/24
GMCAR 2021-4 A3
DTD 10/21/2021 0.680% 09/16/2026
HAROT 2023-3 A3
DTD 08/22/2023 5.410% 02/18/2028
HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028

FREDDIE MAC NOTES
DTD 07/23/2020 0.375% 07/21/2025

BANK OF NY MELLON CORP (CALLABLE)
CORPOR
362554AC1 61,236.98 0.00 34.70 34.70
43815QAC1
43815GAC3
438123AC5
3137EAEU9
06406RBA4
320,000.00
69,655.21
85,000.00
425,000.00
475,000.00

0.00 0.00

0.00 1,442.67

51.08 1,442.67

51.08 401.63
796.88
4,868.75
401.63
796.88
4,868.75
DTD 01/26/2022 2.050% 01/26/2027

IBM CORP CORPORATE NOTES
DTD 07/27/2022 4.000% 07/27/2025

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026

US TREASURY NOTES
01/27/24
01/31/24
01/31/24
01/27/24
01/31/24
01/31/24
459200KS9
91282CCP4
91282CFB2
225,000.00
3,800,000.00
2,600,000.00

0.00 0.00

0.00 4,500.00
11,875.00
35,750.00
4,500.00
11,875.00
35,750.00
DTD 07/31/2022 2.750% 07/31/2027
Transaction Type Sub-Total

PAYDOWNS
21,827,182.35 0.00 132,151.13 132,151.13
01/01/24
01/01/24
01/01/24
01/01/24
01/15/24
01/15/24
01/25/24
01/25/24
01/25/24
01/25/24
01/15/24
01/15/24
FHMS KJ46 A1
DTD 07/01/2023 4.777% 06/01/2028
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
FHMS KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
FHMS K061 A2
DTD 01/30/2017 3.347% 11/01/2026
CARMX 2021-2 A3
DTD 04/21/2021 0.520% 02/17/2026
TAOT 2021-B A3
3137HAD45
3137BGK24
3137HBC69
3137BTUM1
14314QAC8
89190GAC1
225.92
406.84
225.92
406.84

0.00 0.00

0.00 0.00
225.92
406.84

0.01 0.00
(20.15)

0.00 0.00

0.00 0.00
458.99 458.99 458.99
711.53 711.53 711.53 21.90
4,414.25 0.95
13,606.90
4,414.25
13,606.90
4,414.25
13,606.90 1.47
DTD 06/14/2021 0.260% 11/17/2025

Page 30 ends

Managed Account Security Transactions & Interest

PAYDOWNS
01/15/24
01/15/24
01/15/24
01/16/24
01/21/24
01/15/24
01/15/24
01/15/24
01/16/24
01/21/24
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
HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
GMCAR 2021-4 A3
44935FAD6 4,254.96 4,254.96 0.00 4,254.96 0.95

0.22 0.35

0.10 1.10

0.00 65480BAC1
44933LAC7
362554AC1
43815GAC3
13,013.21
3,354.06
3,855.17
5,196.32
13,013.21
3,354.06
3,855.17
5,196.32

0.00 0.00

0.00 0.00
13,013.21
3,354.06
3,855.17
5,196.32

0.00 0.00

0.00 0.00
DTD 10/21/2021 0.680% 09/16/2026
HAROT 2021-4 A3
DTD 11/24/2021 0.880% 01/21/2026
Transaction Type Sub-Total
SELL
49,498.15 49,498.15 0.00 49,498.15 6.90 0.00
01/02/24
01/02/24
01/02/24
01/04/24
01/05/24
01/05/24

PNC BANK NA CORP NOTES (CALLABLE)
DTD 01/23/2019 3.500% 01/23/2024

FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025

FANNIE MAE NOTES
693475AV7
3130AJHU6
3135G03U5
400,000.00
350,000.00
350,000.00
399,476.00
332,097.50
332,342.50
6,261.11
393.75
443.58
405,737.11
332,491.25
332,786.08
(3,372.00)
(16,166.50)
(16,936.50)
(524.00)
(17,459.93)
(17,470.53)
FIFO
FIFO
FIFO
DTD 04/24/2020 0.625% 04/22/2025
Transaction Type Sub-Total
Managed Account Sub-Total
Total Security Transactions
1,100,000.00 1,063,916.00
(57,087.80)
($57,087.80)
7,098.44
134,771.09
$134,771.09
1,071,014.44
77,683.29
(36,475.00)
(36,468.10)
($36,468.10)
(35,454.46)
(35,454.46)
$77,683.29 ($35,454.46)

Page 31 ends

Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending January 31, 2024
Trade
Date
Settlement
Date
Share or
Unit Price
Dollar Amount
of Transaction
Total
Transaction Description Shares Owned
CAMP Pool
Opening Balance
01/02/24
01/02/24
01/02/24
01/02/24
01/04/24
01/04/24
01/05/24
01/05/24
01/05/24
01/05/24
01/05/24
01/05/24
01/08/24
01/08/24
01/12/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
116,772.96
117,372.36
119,322.26
119,759.76
119,947.26
519,423.26
525,684.37
857,781.87
858,175.62
858,619.20
1,190,961.70
20,459.75
15,981.27
17,893.77
25,593.77
34,265.65
43,546.90
43,936.90
44,707.98
46,494.90
47,173.48
47,945.38
01/02/24
01/02/24
01/02/24
01/02/24
01/04/24
01/04/24
01/05/24
01/05/24
01/05/24
01/05/24
01/05/24
01/05/24
01/08/24
01/08/24
01/12/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
Purchase - Interest 20772KJW0
Purchase - Interest 341271AD6
Purchase - Interest 912828YY0
Purchase - Interest 912828ZW3
Purchase - Principal 693475AV7
Purchase - Interest 693475AV7
Purchase - Principal 3130AJHU6
Purchase - Interest 3130AJHU6
Purchase - Interest 3135G03U5
Purchase - Principal 3135G03U5
Redemption - Principal 91282CFZ9
Redemption - Interest 91282CFZ9
Purchase - Interest 14913R2U0
Purchase - Interest 38141EC23
Purchase - Interest 89236TKQ7
Purchase - Interest 24422EXB0
Purchase - Interest 87612EBM7
Purchase - Interest 02582JJZ4
Purchase - Interest 02582JKD1
Purchase - Interest 05522RDG0
Purchase - Interest 05522RDH8

1.00 1.00

1.00 599.40
1,949.90
437.50
187.50
399,476.00
6,261.11
332,097.50
393.75
443.58
332,342.50
(1,170,501.95)
(4,478.48)
1,912.50
7,700.00
8,671.88
9,281.25
390.00
771.08
1,786.92
678.58
771.90

Page 32 ends

Account Statement

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
For the Month Ending January 31, 2024
Trade
Date
Settlement
Date
Share or
Unit Price
Dollar Amount
of Transaction
Total
Transaction Description Shares Owned
CAMP Pool
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
01/16/24
Purchase - Interest 14041NGB1
Purchase - Interest 14041NGD7
Purchase - Interest 14314QAC8
Purchase - Interest 14318MAD1
Purchase - Interest 161571HT4
Purchase - Interest 254683CP8
Purchase - Interest 254683CY9
Purchase - Interest 31680EAD3
Purchase - Interest 344928AD8
Purchase - Interest 41285JAD0
Purchase - Interest 44933LAC7
Purchase - Interest 44935FAD6
Purchase - Interest 65480JAC4
Purchase - Interest 254683CZ6
Purchase - Interest 362554AC1
Purchase - Interest 36265QAD8
Purchase - Interest 65480BAC1
Purchase - Interest 89190GAC1
Purchase - Interest 891940AC2
Purchase - Principal 14314QAC8
Purchase - Principal 44933LAC7
Purchase - Principal 44935FAD6

1.00 1.00

1.00 1.00
1,010.63
1,804.83

19.08 48,956.01
50,760.84
50,779.92
51,474.67
53,216.17
53,310.42
54,459.75
56,072.67
56,576.42
57,291.84
57,298.71
57,332.78
57,853.11
59,291.03
59,325.73
60,430.31
60,466.97
60,495.65
61,440.94
65,855.19
69,209.25
73,464.21
694.75
1,741.50

94.25 1,149.33
1,612.92
503.75
715.42

6.87 34.07
520.33
1,437.92

34.70 1,104.58

36.66 28.68
945.29
4,414.25
3,354.06
4,254.96

Page 33 ends

Account Statement

1.00 1.00

1.00 1.00
13,013.21
13,606.90
3,855.17
1,442.67
796.88
86,477.42
100,084.32
103,939.49
105,382.16
106,179.04
106,230.12
106,631.75
111,828.07
107,840.27
107,617.98
109,237.31
110,351.06
111,111.41
112,627.04
114,602.04
116,602.04
119,702.04
121,448.89
123,657.60
125,143.98
126,621.65
127,679.95

51.08 401.63
5,196.32
(3,987.80)
(222.29)
1,619.33
1,113.75
760.35
U.S. Bank Fees November 2023
Purchase - Interest 3137HBC69
Purchase - Interest 3137HB3G7
Purchase - Interest 3137HB3D4
Purchase - Interest 3137HAST4
Purchase - Interest 3137HAQ74
Purchase - Interest 3137HAMS2
Purchase - Interest 3137HAMH6
Purchase - Interest 3137HAD45
Purchase - Interest 3137HACX2
Purchase - Interest 3137F1G44
Purchase - Interest 3137BXQY1
Purchase - Interest 3137BTUM1
1,515.63
1,975.00
2,000.00
3,100.00
1,746.85
2,208.71
1,486.38
1,477.67
1,058.30

Page 34 ends

Account Statement

1.00 1.00

1.00 1,215.96
629.06
128,895.91
129,524.97
130,153.71
132,074.13
132,533.12
132,759.04
133,165.88
133,877.41
138,746.16
143,246.16
155,121.16
190,871.16
191,349.05
628.74
1,920.42
458.99
225.92
406.84
711.53
4,868.75
4,500.00
11,875.00
35,750.00
Accrual Income Div Reinvestment - Distributions 477.89

Page 35 ends

Account Statement For the Month Ending January 31, 2024

CITY OF LAKE ELSINORE - LAKE ELSINORE - CITY FUNDS
Trade
Date
Settlement
Date
Share or
Unit Price
Dollar Amount
of Transaction
Total
Transaction Description Shares Owned
Closing Balance 191,349.05
Month of Fiscal YTD
January January-January
Opening Balance
Purchases
Redemptions (Excl. Checks)
Check Disbursements
116,772.96
1,253,766.61
(1,179,190.52)

0.00 116,772.96
1,253,766.61
(1,179,190.52)

0.00 Closing Balance
Average Monthly Balance
Monthly Distribution Yield
191,349.05
101,882.98

5.54%
Closing Balance 191,349.05 191,349.05
Cash Dividends and Income 477.89 477.89

Page 36 ends

Review of Investment Performance
CAMP Accounts
City Of Lake Elsinore
Investment Performance Review
For the Quarter Ended December 31, 2023
Client Management Team 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 December 31, 2023
CITY OF LAKE ELSINORE Market Update
Current Market Themes
▸ The U.S. economy is characterized by:
▹ Economic resilience but expectations for a slowdown
▹ Cooling inflation that still remains above the Federal Reserve’s (“Fed”) target ▹ The labor market coming into better balance
▹ Consumers that continue to support growth through spending ▸ Federal Reserve signals end to rate hiking cycle
▹ Fed projected to cut the short-term Fed funds rate by 75 basis points by December 2024, with the overnight rate falling to 4.50% to 4.75%
▹ Markets are pricing a more aggressive 6 rate cuts by year end ▹ Fed officials reaffirm that restoring price stability is the priority ▸ Treasury yields ended the quarter materially lower
▹ After peaking in October, yields reversed course on dovish Fed pivot ▹ Yield curve inversion persisted throughout the rally
▹ Credit spreads narrowed sharply on increased expectations for a soft landing 1 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 2023
CITY OF LAKE ELSINORE Market Update
While Up in December, Inflation Trended Lower During The Quarter Factors Contributing to the Consumer Price Index (CPI YoY) Food Energy Core Goods Core Services CPI
10%
8%
6%
4%
2%
0%
-2%
Lower energy
and goods prices
helped to offset
increases in
wage-driven
services costs
Dec - 23

3.4%
Jan-20 Jul-20 Jan-21 Jul-21 Jan-22 Jul-22 Jan-23 Jul-23 Source: Bloomberg, as of December 2023.
2 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 2023
CITY OF LAKE ELSINORE Market Update
Balanced Risks Support Soft Landing U.S. GDP Forecasts
Annualized Rate
Actual Range Median of Forecasts
Employment
Wages

6.0%

5.0%

4.0%

3.0%

2.0%

1.0%

0.0%
Consumer 4.9%
Inflation
Housing

2.6%
Manufacturing
Inverted yield curve
Credit spreads
Fed Policy

2.2% 2.1% 1.7%

1.3%
Q1 '23 Q2 '23 Q3 '23 Q4 '23 2024 2025
Source: Bloomberg, Economist Forecasts.
3 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 2023
CITY OF LAKE ELSINORE Market Update
Federal Reserve Projects a Soft Landing
Change in Real GDP Unemployment Rate
6%
5%
4%
3%
2%
1%
0%
4%
3%
2%
1%
0%
September Projections December Projections September Projections December Projections

4.1% 4.1% 4.1% 4.1% 2.6% 3.8%

1.8% 1.9% 1.8%

1.4%
2023 2024 2025 2026 Longer
Run
2023 2024 2025 2026 Longer
Run
PCE Inflation Federal Funds Rate
5% 8%
September Projections December Projections September Projections December Projections 4%
3%
2%
1%
0%
6%
4%
2%
0%

5.4%

2.8% 4.6%

2.4% 3.6%

2.9%

2.1% 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 December 2023. 4 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 2023
CITY OF LAKE ELSINORE Market Update
Market Expects Lower Rates
Implied Fed Funds Rate
6-Month Range Fed Funds as of December 29, 2023 Fed Funds as of September 29, 2023

6.00%

5.50%

5.00%

4.50%

4.00%

3.50%

3.00%

2.50%

2.00%
Expectations for
Fed Funds have
reached their
most dovish
levels in 6
months in
response to
falling inflation,
Fed pivot and
-89 bps moderating
labor market
-108 bps
Dec-23 Jun-24 Dec-24 Jun-25 Dec-25
Source: Bloomberg, as of December 2023.
5 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 2023
CITY OF LAKE ELSINORE Market Update
Rates Fall on Softer Inflation and Fed Pivot
2-Year US Treasury Yield

5.50%

5.25%

5.00%

4.75%

4.50%

4.25%
November 14th
CPI inflation cools more
than markets expected
-20 bps
December 13th
Fed releases updated
dot plot showing 3 cuts
November 1 in ’24 st - 3rd
Fed keeps rates
unchanged and
Treasury slows pace
of debt issuance
-25 bps
-30 bps
Week of November 27th
Fed speeches portend
policy shift
-41 bps

4.00%
Oct-23 Nov-23 Dec-23 Jan-24
Source: Bloomberg, as of 12/31/2023.
6 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 2023
CITY OF LAKE ELSINORE Market Update
Interest Rates Moderate But Remain High
U.S. Treasury Yield Curve

6.0%

5.33%

5.0%

4.25%

4.03%

3.85% 3.88%

4.0%

3.0%

2.0%

1.0%

0.0%
15 Year Range
December 31, 2023
September 30, 2023
3-Month 2-Year 5-Year 10-Year 30-Year
Maturity
Source: Bloomberg, as of December 31, 2023.
7 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Mortgage-Backed Securities Yield Spreads Asset-Backed Securities AAA Yield Spreads

1.2% 1.5% Agency MBS Agency CMBS Index

1.0%

0.8%

0.6%

0.4%

0.2%

0.0%

1.0%

0.5%

0.0%
Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Dec-22 Mar-23 Jun-23 Sep-23 Dec-23 Source: ICE BofA 1-5 year Indices via Bloomberg, MarketAxess and PFMAM as of December 31, 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 December 31, 2023
CITY OF LAKE ELSINORE Market Update
Fixed-Income Markets in 4Q 2023
1-5 Year Indices
1-5 Year Indices Quarterly Returns 1-Year Return

5.0%

4.0%

3.0%

2.0%

1.0%

0.0%

8.0%

7.0% 6.82%

4.13%

3.82% 5.89% 6.0%

5.0%

4.0%

3.0%

2.0%

1.0%

0.0%

5.40%

3.10%

4.69% 2.81% 4.30%

2.47%
Source: ICE BofA Indices. ABS indices are 0-5 year, based on weighted average life. As of December 31, 2023. 9 © PFM Asset Management LLC | pfmam.com
Portfolio Review
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 2023
CITY OF LAKE ELSINORE Portfolio Snapshot
Portfolio Snapshot¹
Portfolio Statistics Sector Allocation
Total Market Value
Managed Account Sub-Total
Accrued Interest
$52,137,217.16
$51,767,158.04
$253,286.16
$116,772.96
U.S. Treasury | 41%
Corporate | 23%
Pool Agency CMBS | 14%
ABS | 10%
Federal Agency | 5%
Municipal | 3%
Negotiable CD | 2%
Supranational | 1%
JointPowers Authority | <1%
Portfolio Effective Duration
Benchmark Effective Duration
Yield At Cost

2.52 years

2.53 years

3.49%
Yield At Market 4.34%
Portfolio Credit Quality AA
Credit Quality - S&P Duration Distribution
Portfolio Benchmark
AAA | 12%
50%
40%
30%
20%
10%
0%
AAAm | <1% 45%
AA+ | 62%
AA| 4%
AA- | 4%
A+ | 3%
A | 5%
A- | 7%
BBB+ | 1%
Not Rated | 2%
34%
27%
19% 21% 18%
14%
9% 9%
4%
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 December 31, 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 December 31, 2023
CITY OF LAKE ELSINORE Sector Analytics
Sector Allocation Analytics
U.S. Treasury I $21,516,693
Federal Agency I $2,796,048
Agency MBS I $7,112,424
Supranational I $615,446
Municipal I $1,479,697

41.3%

5.4%

13.6%

1.2%

2.8%
Negotiable CD I $914,348
Corporate I $12,177,870
Asset-Backed I $5,407,918
CAMP I $116,773

1.8%

23.4%

10.4%

0.2%
0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%
Sector Limit for Analysis* Portfolio Allocation
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 December 31, 2023
CITY OF LAKE ELSINORE Compliance
Certificate of Compliance
During the reporting period for the quarter ended December 31, 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 December 31, 2023
CITY OF LAKE ELSINORE Portfolio Activity
Portfolio Activity
Net Activity by Sector
($ millions)
Sector Net Activity
$1,704,970
$527,867
Agency CMBS
Corporate Agency CMBS
Corporate
ABS
ABS $105,973
U.S. Treasury
Supranational
Federal Agency
Total Net Activity
($255,496)
($500,625)
($1,301,422)
$281,267
U.S. Treasury
Supranational
Federal Agency
a
e
($1.5) ($1.0) ($0.5)
Sales/Maturities
$0.0 $0.5 $1.0 $1.5 $2.0
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 December 31, 2023
CITY OF LAKE ELSINORE Portfolio Characteristics
Historical Sector Allocation
10% 10%
22%
2%
23%
2% 3% 3% 2% 1%
10% 14%
8% 5%
42% 41%
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 December 31, 2023
CITY OF LAKE ELSINORE Portfolio Performance
Portfolio Performance
Portfolio Benchmark

6.0%

4.0%

2.0%

0.0%
-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
$342,941
$1,323,515
$1,666,456
$1,086,145
$1,200,023
$2,286,168
$1,949,849
($1,640,737)
$309,112
$3,467,413
$93,247
$5,928,488
($246,419)
$3,560,660 $5,682,069
Portfolio 3.30%

3.10%

0.20%

4.93%

4.30%

0.63%
-0.50%
-0.76%

0.26%

1.53%

1.21%

0.32%

1.43%

1.15%

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 December 31, 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 $342,941
($98,240)
$99,125
$1,086,145
($468,974)
$457,835
$1,949,849
($708,094)
$357,676
$3,467,413
($4,490)
$5,928,488
Realized Gains / (Losses)³ ($7,046)
Change in Amortized Cost
Total Earnings
$398,797
$3,861,721
$217,028
$343,825 $1,075,007 $1,599,431 $6,138,470

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. 16 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 2023
CITY OF LAKE ELSINORE Market Update
Fixed-Income Sector Outlook – 1Q 2024
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 17 © PFM Asset Management LLC | pfmam.com
Issuer Distribution
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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

41.4% Corporate 23.4%
UNITED STATES TREASURY 41.4% AA / Aaa / AA ABBOTT LABORATORIES AMAZON.COM INC

0.4%

0.9%

0.7%

0.8%

1.4%

0.9%

0.4%

0.7%

0.4%

0.8%

0.1%

1.5%

0.8%

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 Agency 5.4%

AMERICAN EXPRESS CO

AMERICAN HONDA FINANCE

APPLE INC
FANNIE MAE 2.4%

0.9%

2.0%

13.7%
AA / Aaa / AA
AA / Aaa / NR
AA / Aaa / AA

FEDERAL HOME LOAN BANKS
FREDDIE MAC AA / Aaa / NR

A / A / AA
AA / Aa / A

A / A / NR

A / A / A

BANK OF AMERICA CO

BERKSHIRE HATHAWAY INC

BMW FINANCIAL SERVICES NA LLC

BRISTOL-MYERS SQUIBB CO

CATERPILLAR INC
Agency CMBS

FANNIE MAE

FREDDIE MAC
Supranational

1.1%

12.6%

1.2%
AA / Aaa / AA
AA / Aaa / AA
INTER-AMERICAN DEVELOPMENT BANK 1.2% AAA / Aaa / AAA CHARLES SCHWAB A / A / A Municipal 2.8% CINTAS CORPORATION NO. 2

CITIGROUP INC

A / A / NR
A / Aa / A

A / A / A
CALIFORNIA STATE UNIVERSITY 0.2%

0.2%
AA / Aa / NR
CHAFFEY JOINT UNION HIGH SCHOOL AA / Aa / NR

DISTRICT

DEERE & COMPANY

GENERAL DYNAMICS CORP

GOLDMAN SACHS GROUP INC

HOME DEPOT INC

A / A / NR

BBB / A / A

A / A / A
FLORIDA STATE BOARD OF ADMIN FIN CORP 0.6%

0.3%
AA / Aa / AA

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%

1.8%

NR / NR / AA
NR / Aa / NR
AA / Aa / AA
AA / Aa / AA
AAA / Aaa / AAA
AA / Aa / AA

IBM CORP A / A / A

JP MORGAN CHASE & CO

LOCKHEED MARTIN CORP

MICROSOFT CORP

A / A / AA

A / A / A
STATE OF CONNECTICUT AAA / Aaa / NR

STATE OF MINNESOTA MORGAN STANLEY A / A / A

UNIVERSITY OF CALIFORNIA
Negotiable CD
NATIONAL AUSTRALIA BANK LTD AA / Aa / NR

NATIONAL RURAL UTILITIES CO FINANCE A / A / A
CORP
NORDEA BANK ABP 0.9%

0.9%
AA / Aa / AA

A / A / NR
PACCAR FINANCIAL CORP 0.3%

0.8%

A / A / NR

A / A / A TORONTO-DOMINION BANK PNC FINANCIAL SERVICES GROUP 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.
18 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 2023
CITY OF LAKE ELSINORE Portfolio Summary
Issuer Diversification
Security Type / Issuer
Corporate
Market Value (%) S&P / Moody's / Fitch

23.4%

ROCHE HOLDINGS INC

TARGET CORP

0.8%

0.1%

0.2%

1.3%
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%

10.4%

A / A / A

A / A / A
AA / Aa / NR
AMERICAN EXPRESS CO 1.2%

0.7%

1.4%

0.5%

0.8%

1.7%

0.7%

0.2%

0.6%

AAA / NR / AAA
AAA / Aaa / 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

HARLEY-DAVIDSON MOTORCYCLE TRUST

HONDA AUTO RECEIVABLES

HYUNDAI AUTO RECEIVABLES

NISSAN AUTO RECEIVABLES

TOYOTA MOTOR CORP

0.3%

0.9%
NR / Aaa / AAA
AAA / Aaa / AAA

AAA / NR / AAA
AAA / Aaa / NR

AAA / NR / AAA

0.1%

0.5%

0.7%
Total 100.0%
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
Portfolio Transactions
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
10/2/2023
10/11/2023
10/25/2023
11/1/2023
11/14/2023
11/28/2023
12/1/2023
12/6/2023
12/7/2023
10/4/2023
10/19/2023
10/31/2023
11/8/2023
11/21/2023
12/7/2023
12/5/2023
12/14/2023
12/14/2023
750,000.00
500,000.00
375,000.00
85,000.00
17325FBB3
3137HAQ74
3137HAST4
438123AC5
3137HB3D4
3137HB3G7
91282CFZ9
3137HBC69
05522RDH8

CITIBANK NA CORP NOTES (CALLABLE)
FHMS K508 A2

5.80%

4.74%

4.85%

5.67%

5.06%

4.86%

3.87%

4.85%

4.98%
9/29/2028
8/1/2028
746,884.48
490,217.00
364,559.51
84,985.03

5.92%

5.26%

5.60%

5.67%

5.14%

4.93%

4.24%

4.86%

4.98%
FHMS K509 A2 9/1/2028
HAROT 2023-4 A3
FHMS K510 A2
6/21/2028
10/1/2028
10/1/2028
11/30/2027
5/1/2028
180,000.00
275,000.00
1,200,000.00
400,000.00
180,000.00
3,945,000.00
179,986.52
274,432.68
1,184,744.63
400,698.51
179,975.83
3,906,484.19
FHMS K511 A2

US TREASURY NOTES
FHMS KJ48 A1
BACCT 2023-A2 A2 11/15/2028
Total BUY

INTEREST
10/1/2023
10/1/2023
10/1/2023
10/1/2023
10/1/2023
10/1/2023

0.00 10/1/2023 300,000.00
380,000.00
275,000.00
550,000.00
500,000.00
550,000.00
808513BW4
3137BTUM1
3137BNGT5
3137HACX2
3137HAMS2
3137BXQY1

CHARLES SCHWAB CORP NOTES (CALLABLE)
FHMS K061 A2

3.30%

3.34%

2.74%

4.81%

4.80%

3.22%
4/1/2027
11/1/2026
1/1/2026
6/1/2028
9/1/2028
3/1/2027
4,950.00
1,059.88
629.06
10/25/2023
10/25/2023
10/25/2023
10/25/2023
10/25/2023
FHMS K054 A2
FHMS K505 A2 2,208.71
2,000.00
1,477.67
FHMS K507 A2
FHMS K064 A2
20 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
10/1/2023
10/1/2023
10/1/2023
10/1/2023
10/1/2023
10/1/2023
10/14/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/25/2023
10/25/2023
10/25/2023
10/25/2023
10/25/2023
10/25/2023
10/14/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
550,000.00
550,000.00
550,000.00
439,574.59
800,000.00
250,000.00
350,000.00
490,000.00
190,000.00
410,000.00
405,000.00
245,000.00
32,583.46
3136BQDE6
3137F1G44
3137BSP72
3137HAD45
3137HAMH6
3137BGK24
3130AJHU6
14041NGD7
02582JJZ4
02582JKD1
161571HT4
891940AC2
44933LAC7
31680EAD3
14318MAD1
254683CY9
65480BAC1
FNA 2023-M6 A2 4.19%

3.24%

2.65%

4.77%

4.65%

3.06%

0.50%

4.42%

4.87%

5.23%

5.16%

4.63%

0.38%

5.53%

3.97%

4.31%

0.33%
7/1/2028 1,920.42
1,486.38
1,215.96
1,749.87
3,100.00
637.92

FHLMC MULTIFAMILY STRUCTURED P
FHMS K058 A2
4/1/2027
8/1/2026
FHMS KJ46 A1 6/1/2028
FHMS K506 A2 8/1/2028
FHMS K043 A2 12/1/2024
4/14/2025
5/15/2028
5/15/2028
9/15/2028
9/15/2028
9/15/2027
9/15/2025
8/15/2028
4/15/2027
3/15/2028
10/15/2025

FEDERAL HOME LOAN BANK NOTES
COMET 2023-A1 A
AMXCA 2023-1 A
875.00
1,804.83
771.08
AMXCA 2023-3 A 1,548.66
1,741.50
945.29
CHAIT 2023-A1 A
TAOT 2023-A A3
HART 2021-A A3 10.32
350,000.00
210,000.00
320,000.00
174,780.61
FITAT 2023-1 A3 1,612.92
CARMX 2022-3 A3 694.75
DCENT 2023-A1 A
NAROT 2021-A A3
1,149.33

48.06 21 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/16/2023
10/16/2023
10/18/2023
10/20/2023
10/21/2023
10/22/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/16/2023
10/16/2023
10/18/2023
10/20/2023
10/21/2023
10/22/2023
245,000.00
170,000.00
140,000.00
195,000.00
68,549.39
170,000.00
25,000.00
176,061.06
130,000.00
350,000.00
57,634.38
275,000.00
73,291.67
320,000.00
7,905.67
14041NGB1
05522RDG0
65480JAC4
254683CP8
44935FAD6
41285JAD0
437076CM2
89190GAC1
344928AD8
254683CZ6
14314QAC8
36265QAD8
362554AC1
43815QAC1
380144AD7
43815GAC3
3135G03U5
COMET 2022-A3 A 4.95%

4.79%

4.46%

0.58%

0.74%

5.05%

2.70%

0.26%

4.65%

4.93%

0.52%

4.82%

0.68%

5.41%

0.41%

0.88%

0.62%
10/15/2027
5/15/2028
5/17/2027
9/15/2026
5/15/2026
12/15/2027
4/15/2025
11/17/2025
2/15/2028
6/15/2028
2/17/2026
8/16/2027
9/16/2026
2/18/2028
5/20/2025
1/21/2026
4/22/2025
1,010.63
678.58
520.33

94.25 BACCT 2023-A1 A1
NAROT 2022-B A3
DCENT 2021-A1 A1
HART 2021-C A3 42.27
HDMOT 2023-A A3

HOME DEPOT INC (CALLABLE) CORPORATE NOTE
TAOT 2021-B A3
715.42
337.50

38.15 FORDO 2023-A A3 503.75
1,437.92

24.97 DCENT 2023-A2 A
CARMX 2021-2 A3
GMCAR 2022-4 A3 1,104.58
GMCAR 2021-4 A3 41.53
HAROT 2023-3 A3 1,442.67
GMALT 2021-2 A4 2.70
85,713.92
350,000.00
HAROT 2021-4 A3 62.86
FANNIE MAE NOTES 1,093.75
22 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
10/25/2023
10/26/2023
10/29/2023
10/31/2023
10/31/2023
11/1/2023
11/1/2023
11/1/2023
11/1/2023
11/1/2023
11/1/2023
11/1/2023
11/1/2023
11/1/2023
11/1/2023
11/1/2023
11/1/2023
10/25/2023
10/26/2023
10/29/2023
10/31/2023
10/31/2023
11/1/2023
450,000.00
210,000.00
400,000.00
1,200,000.00
1,025,000.00
65,000.00
89115B6K1
06406RAS6
61746BDQ6
91282CEN7
91282CBW0
17252MAP5
90327QD89
13077DQD7
3137HACX2
3137HAQ74
3136BQDE6
3137BNGT5
3137BGK24
3137HAMS2
3137HAD45
3137BXQY1
3137HAMH6

TORONTO DOMINION BANK NY CERT DEPOS

BANK OF NY MELLON CORP NOTES (CALLABLE)

MORGAN STANLEY CORP NOTES

US TREASURY NOTES

5.60%

0.50%

3.87%

2.75%

0.75%

3.45%

3.37%

0.86%

4.81%

4.74%

4.19%

2.74%

3.06%

4.80%

4.77%

3.22%

4.65%
10/27/2025
4/26/2024
4/29/2024
4/30/2027
4/30/2026
5/1/2025
5/1/2025
11/1/2025
6/1/2028
8/1/2028
7/1/2028
1/1/2026
12/1/2024
9/1/2028
6/1/2028
3/1/2027
8/1/2028
25,130.00
525.00
7,750.00
16,500.00
3,843.75
1,121.25
3,796.88
366.35

US TREASURY NOTES
CINTAS CORPORATION NO. 2 CORP NOTE (CALL

USAA CAPITAL CORP CORPORATE NOTES

CA ST UNIV TXBL REV BONDS
FHMS K505 A2
11/1/2023 225,000.00
11/1/2023 85,000.00
11/25/2023
11/25/2023
11/25/2023
11/25/2023
11/25/2023
11/25/2023
11/25/2023
11/25/2023
11/25/2023
550,000.00
500,000.00
550,000.00
275,000.00
247,236.53
500,000.00
439,312.38
550,000.00
800,000.00
2,208.71
1,975.00
1,920.42
629.06
FHMS K508 A2
FNA 2023-M6 A2
FHMS K054 A2
FHMS K043 A2 630.87
FHMS K507 A2 2,000.00
1,748.83
1,477.67
3,100.00
FHMS KJ46 A1
FHMS K064 A2
FHMS K506 A2
23 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
11/1/2023
11/1/2023
11/1/2023
11/1/2023
11/3/2023
11/7/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/25/2023
11/25/2023
11/25/2023
11/25/2023
11/3/2023
380,000.00
550,000.00
550,000.00
375,000.00
450,000.00
650,000.00
140,000.00
28,771.97
3137BTUM1
3137BSP72
3137F1G44
3137HAST4
65558UYF3
3135G06G3
65480JAC4
44933LAC7
14318MAD1
91412HGE7
44935FAD6
14041NGD7
254683CY9
91324PEC2
02582JJZ4
02582JKD1
891940AC2
FHMS K061 A2 3.34%

2.65%

3.24%

4.85%

5.53%

0.50%

4.46%

0.38%

3.97%

0.88%

0.74%

4.42%

4.31%

1.15%

4.87%

5.23%

4.63%
11/1/2026
8/1/2026
1,059.88
1,215.96
1,486.38
1,515.63
12,442.50
1,625.00
520.33
FHMS K058 A2

FHLMC MULTIFAMILY STRUCTURED P
FHMS K509 A2
4/1/2027
9/1/2028

NORDEA BANK ABP NEW YORK CERT DEPOS

FANNIE MAE NOTES
NAROT 2022-B A3
11/3/2025
11/7/2025
5/17/2027
9/15/2025
4/15/2027
5/15/2025
5/15/2026
5/15/2028
3/15/2028
5/15/2026
5/15/2028
9/15/2028
9/15/2027
11/7/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
HART 2021-A A3 9.11
210,000.00
85,000.00
CARMX 2022-3 A3 694.75

UNIV OF CAL TXBL REV BONDS
HART 2021-C A3
375.28
63,922.68 39.42
490,000.00
320,000.00
225,000.00
190,000.00
410,000.00
245,000.00
COMET 2023-A1 A 1,804.83
1,149.33
1,293.75
771.08
DCENT 2023-A1 A

UNITEDHEALTH GROUP INC (CALLABLE) CORPOR
AMXCA 2023-1 A
AMXCA 2023-3 A 1,786.92
TAOT 2023-A A3 945.29
24 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/16/2023
11/16/2023
11/18/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/16/2023
11/16/2023
11/18/2023
245,000.00
170,000.00
130,000.00
52,946.61
14041NGB1
05522RDG0
344928AD8
14314QAC8
89190GAC1
539830BZ1
41285JAD0
912828U24
254683CP8
254683CZ6
31680EAD3
369550BG2
161571HT4
65480BAC1
362554AC1
36265QAD8
43815QAC1
COMET 2022-A3 A 4.95%

4.79%

4.65%

0.52%

0.26%

4.45%

5.05%

2.00%

0.58%

4.93%

5.53%

3.50%

5.16%

0.33%

0.68%

4.82%

5.41%
10/15/2027
5/15/2028
2/15/2028
2/17/2026
11/17/2025
5/15/2028
12/15/2027
11/15/2026
9/15/2026
6/15/2028
8/15/2028
5/15/2025
9/15/2028
10/15/2025
9/16/2026
8/16/2027
2/18/2028
1,010.63
BACCT 2023-A1 A1 678.58
FORDO 2023-A A3 503.75
CARMX 2021-2 A3 22.94
161,204.86
60,000.00
TAOT 2021-B A3 34.93

LOCKHEED MARTIN CORP NOTES (CALLABLE)
HDMOT 2023-A A3
1,260.83
170,000.00 715.42
12,825,000.00
195,000.00
350,000.00
350,000.00
225,000.00
405,000.00
160,682.51
69,087.56

US TREASURY NOTES
DCENT 2021-A1 A1
128,250.00

94.25 DCENT 2023-A2 A 1,437.92
1,612.92
3,937.50
1,741.50

44.19 FITAT 2023-1 A3

GENERAL DYNAMICS CORP (CALLABLE) CORP NO
CHAIT 2023-A1 A
NAROT 2021-A A3
GMCAR 2021-4 A3 39.15
275,000.00
320,000.00
GMCAR 2022-4 A3 1,104.58
HAROT 2023-3 A3 1,442.67
25 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
11/21/2023
12/1/2023
12/1/2023
12/1/2023
12/1/2023
12/1/2023
12/1/2023
12/1/2023
12/1/2023
12/1/2023
12/1/2023
12/1/2023
12/1/2023
12/1/2023
12/1/2023
12/1/2023
12/3/2023
11/21/2023
12/25/2023
12/25/2023
12/25/2023
12/25/2023
12/25/2023
12/25/2023
12/25/2023
12/25/2023
12/25/2023
12/25/2023
12/25/2023
12/25/2023
12/25/2023
12/25/2023
12/1/2023
80,224.67
550,000.00
550,000.00
550,000.00
500,000.00
439,089.13
800,000.00
375,000.00
500,000.00
550,000.00
246,832.58
550,000.00
275,000.00
180,000.00
380,000.00
315,000.00
475,000.00
43815GAC3
3137BXQY1
3137HACX2
3137F1G44
3137HAQ74
3137HAD45
3137HAMH6
3137HAST4
3137HAMS2
3136BQDE6
3137BGK24
3137BSP72
3137BNGT5
3137HB3D4
3137BTUM1
46647PCH7
023135BQ8
HAROT 2021-4 A3 0.88%

3.22%

4.81%

3.24%

4.74%

4.77%

4.65%

4.85%

4.80%

4.19%

3.06%

2.65%

2.74%

5.06%

3.34%

0.82%

0.80%
1/21/2026
3/1/2027
6/1/2028
4/1/2027
8/1/2028
6/1/2028
8/1/2028
9/1/2028
9/1/2028
7/1/2028
12/1/2024
8/1/2026
1/1/2026
10/1/2028
11/1/2026
6/1/2025
6/3/2025

58.83 FHMS K064 A2 1,477.67
2,208.71
1,486.38
1,975.00
1,747.94
3,100.00
1,515.63
2,000.00
1,920.42
629.83
FHMS K505 A2

FHLMC MULTIFAMILY STRUCTURED P
FHMS K508 A2
FHMS KJ46 A1
FHMS K506 A2
FHMS K509 A2
FHMS K507 A2
FNA 2023-M6 A2
FHMS K043 A2
FHMS K058 A2 1,215.96
FHMS K054 A2 629.06
FHMS K510 A2 760.35
FHMS K061 A2 1,059.88
1,297.80
1,900.00

JPMORGAN CHASE & CO (CALLABLE) CORP NOTE
12/3/2023 AMAZON INC CORP NOTES (CALLABLE)
26 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
12/6/2023 12/6/2023 225,000.00
500,000.00
250,000.00
210,000.00
405,000.00
195,000.00
140,000.00
245,000.00
190,000.00
50,000.00
06051GKE8
63254ABE7
63254ABD9
14318MAD1
161571HT4
254683CP8
65480JAC4
891940AC2
02582JJZ4
63743HFE7
44935FAD6
14041NGD7
254683CY9
14314QAC8
89190GAC1
02582JKD1
65480BAC1

BANK OF AMERICA CORP NOTES (CALLABLE)

NATIONAL AUSTRALIA BK/NY CORPORATE NOTES

NATIONAL AUSTRALIA BK/NY CORPORATE NOTES
CARMX 2022-3 A3

1.53%

3.90%

3.50%

3.97%

5.16%

0.58%

4.46%

4.63%

4.87%

3.45%

0.74%

4.42%

4.31%

0.52%

0.26%

5.23%

0.33%
12/6/2025
6/9/2027
1,721.25
9,762.50
4,375.00
694.75
1,741.50

94.25 12/9/2023 12/9/2023
12/9/2023 12/9/2023 6/9/2025
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
4/15/2027
9/15/2028
9/15/2026
5/17/2027
9/15/2027
5/15/2028
6/15/2025
5/15/2026
5/15/2028
3/15/2028
2/17/2026
11/17/2025
9/15/2028
10/15/2025
CHAIT 2023-A1 A
DCENT 2021-A1 A1
NAROT 2022-B A3 520.33
945.29
771.08
862.50

36.67 TAOT 2023-A A3
AMXCA 2023-1 A

NATIONAL RURAL UTIL COOP CORPORATE NOTES
59,471.73 HART 2021-C A3
490,000.00
320,000.00
48,380.22
COMET 2023-A1 A 1,804.83
1,149.33

20.96 DCENT 2023-A1 A
CARMX 2021-2 A3
146,429.92
410,000.00
146,397.68
TAOT 2021-B A3 31.73
AMXCA 2023-3 A 1,786.92
NAROT 2021-A A3 40.26
27 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/16/2023
12/16/2023
12/18/2023
12/21/2023
12/21/2023
12/27/2023
12/31/2023
12/31/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/16/2023
12/16/2023
12/18/2023
12/21/2023
12/21/2023
12/27/2023
12/31/2023
12/31/2023
130,000.00
170,000.00
350,000.00
170,000.00
350,000.00
25,148.51
344928AD8
05522RDG0
254683CZ6
41285JAD0
31680EAD3
44933LAC7
14041NGB1
362554AC1
36265QAD8
43815QAC1
438123AC5
43815GAC3
02665WCZ2
912828YY0
912828ZW3
FORDO 2023-A A3 4.65%

4.79%

4.93%

5.05%

5.53%

0.38%

4.95%

0.68%

4.82%

5.41%

5.67%

0.88%

2.40%

1.75%

0.25%
2/15/2028
5/15/2028
6/15/2028
12/15/2027
8/15/2028
9/15/2025
10/15/2027
9/16/2026
8/16/2027
2/18/2028
6/21/2028
1/21/2026
6/27/2024
12/31/2024
6/30/2025
503.75
BACCT 2023-A1 A1
DCENT 2023-A2 A
678.58
1,437.92
HDMOT 2023-A A3 715.42
FITAT 2023-1 A3 1,612.92
HART 2021-A A3 7.96
245,000.00
65,083.25
COMET 2022-A3 A 1,010.63
GMCAR 2021-4 A3 36.88
275,000.00
320,000.00
85,000.00
GMCAR 2022-4 A3 1,104.58
1,442.67
575.66
HAROT 2023-3 A3
HAROT 2023-4 A3
74,789.59 HAROT 2021-4 A3 54.85
400,000.00
50,000.00

AMERICAN HONDA FINANCE CORP NOTE

US TREASURY NOTES

US TREASURY NOTES
4,800.00
437.50
150,000.00
55,516,107.13
187.50
Total INTEREST 356,129.89 0.00
28 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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)

MATURITY
10/16/2023
11/6/2023
11/24/2023
11/27/2023
12/4/2023
10/16/2023
11/6/2023
11/24/2023
11/27/2023
12/4/2023
325,000.00
350,000.00
500,000.00
325,000.00
300,000.00
1,800,000.00
3137EAEY1
3137EAEZ8
459058JM6
3135G06H1
3137EAFA2
FREDDIE MAC NOTES 0.12%

0.25%

0.25%
10/16/2023
11/6/2023
11/24/2023
11/27/2023
12/4/2023
325,203.13
350,437.50
500,625.00
325,406.25
300,375.00
1,802,046.88

FREDDIE MAC NOTES

INTL BK RECON & DEVELOP NOTES

FANNIE MAE NOTES

FREDDIE MAC NOTES
Total MATURITY

PAYDOWNS

0.00 10/1/2023
10/1/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/16/2023
10/20/2023
10/21/2023
10/25/2023 2,763.47
262.21
3137BGK24
3137HAD45
65480BAC1
89190GAC1
14314QAC8
44933LAC7
44935FAD6
362554AC1
380144AD7
43815GAC3
FHMS K043 A2 3.06%

4.77%

0.33%

0.26%

0.52%

0.38%

0.74%

0.68%

0.41%

0.88%
12/1/2024
6/1/2028
2,763.47
10/25/2023 262.21
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/15/2023
10/16/2023
10/20/2023
10/21/2023
FHMS KJ46 A1
14,098.10
14,856.20
4,687.77
3,811.49
4,626.71
4,204.11
7,905.67
5,489.25
NAROT 2021-A A3
TAOT 2021-B A3
CARMX 2021-2 A3
HART 2021-A A3
HART 2021-C A3
GMCAR 2021-4 A3
GMALT 2021-2 A4
HAROT 2021-4 A3
10/15/2025
11/17/2025
2/17/2026
9/15/2025
5/15/2026
9/16/2026
5/20/2025
1/21/2026
14,098.10
14,856.20
4,687.77
3,811.49
4,626.71
4,204.11
7,905.67
5,489.25
29 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
11/1/2023 11/25/2023
11/25/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/16/2023
11/21/2023
12/25/2023
12/25/2023
12/25/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
403.95 3137BGK24
3137HAD45
89190GAC1
65480BAC1
44933LAC7
14314QAC8
44935FAD6
362554AC1
43815GAC3
3137HAD45
3137BTUM1
3137BGK24
44935FAD6
89190GAC1
14314QAC8
65480BAC1
44933LAC7
FHMS K043 A2 3.06%

4.77%

0.26%

0.33%

0.38%

0.52%

0.74%

0.68%

0.88%

4.77%

3.34%

3.06%

0.74%

0.26%

0.52%

0.33%

0.38%
12/1/2024
6/1/2028
403.95
11/1/2023 223.25
14,774.94
14,284.83
3,623.46
4,566.39
4,450.95
4,004.31
5,435.08
274.15
FHMS KJ46 A1 223.25
14,774.94
14,284.83
3,623.46
4,566.39
4,450.95
4,004.31
5,435.08
274.15
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/15/2023
11/16/2023
11/21/2023
12/1/2023
TAOT 2021-B A3
NAROT 2021-A A3
HART 2021-A A3
CARMX 2021-2 A3
HART 2021-C A3
GMCAR 2021-4 A3
HAROT 2021-4 A3
FHMS KJ46 A1
11/17/2025
10/15/2025
9/15/2025
2/17/2026
5/15/2026
9/16/2026
1/21/2026
6/1/2028
12/1/2023 567.98 FHMS K061 A2 11/1/2026
12/1/2024
5/15/2026
11/17/2025
2/17/2026
10/15/2025
9/15/2025
567.98
12/1/2023 429.34 FHMS K043 A2 429.34
12/15/2023
12/15/2023
12/15/2023
12/15/2023
12/15/2023
4,230.59
14,054.09
4,352.81
13,092.31
3,458.34
HART 2021-C A3
TAOT 2021-B A3
CARMX 2021-2 A3
NAROT 2021-A A3
HART 2021-A A3
4,230.59
14,054.09
4,352.81
13,092.31
3,458.34
30 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
12/16/2023
12/21/2023
12/16/2023
12/21/2023
3,846.27 362554AC1
43815GAC3
GMCAR 2021-4 A3
HAROT 2021-4 A3

0.68%

0.88%
9/16/2026
1/21/2026
3,846.27
5,134.38 5,134.38
Total PAYDOWNS
SELL
163,912.40 163,912.40 0.00
10/2/2023
10/2/2023
10/2/2023
10/11/2023
10/16/2023
10/26/2023
12/7/2023
12/7/2023
12/7/2023
Total SELL
10/4/2023 200,000.00
225,000.00
400,000.00
50,000.00
91282CBC4
172967JP7
91282CBC4
91282CDV0
91282CDV0
912828YY0
91282CDV0
912828YY0
91282CBW0

US TREASURY NOTES

CITIGROUP INC CORP NOTES

US TREASURY NOTES

0.37%

3.30%

0.37%

0.87%

1.75%

0.87%

1.75%

0.75%
12/31/2025
4/27/2025
12/31/2025
1/31/2024
1/31/2024
12/31/2024
1/31/2024
12/31/2024
4/30/2026
180,765.96
219,017.63
361,531.94
49,457.20
-16,483.37
-17,534.70
-32,228.42
-108.60
10/4/2023
10/4/2023
10/18/2023
10/19/2023
10/31/2023
12/14/2023
12/14/2023
12/14/2023
50,000.00 49,464.25 -107.77
250,000.00
300,000.00
100,000.00
175,000.00
1,750,000.00
241,472.07
299,212.30
97,485.57
-14,562.35
-309.26
-4,948.99
-11,956.79
-98,240.25
160,851.03
1,659,257.95
31 © PFM Asset Management LLC | pfmam.com
Portfolio Holdings
© PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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 NOTES
DTD 12/31/2019 1.750% 12/31/2024
912828YY0
912828ZW3
91282CBW0
91282CBW0
91282CCP4
91282CCP4
91282CCP4
91282CCP4
91282CCP4
91282CCP4
912828U24
912828U24
912828U24
912828U24
91282CEN7
50,000.00
150,000.00
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
8/5/2020
4/1/2021
8/7/2020
4/5/2021
53,441.41 0.18
147,093.75 0.72
71,458.01 1.92
756,109.37 1.33
732,343.75 2.84
179,007.81 3.53
819,035.16 2.94
226,250.00 3.03
819,562.50 3.04
690,468.75 2.74
8,922,578.13 3.72
907,092.77 3.96
1,954,066.41 3.92
228,144.53 4.39
1,155,421.88 3.70

2.40 50,781.65
148,974.26
73,039.91
48,523.44
140,859.38
69,386.71

US TREASURY NOTES
DTD 06/30/2020 0.250% 06/30/2025

1.03 US TREASURY NOTES 95.81
DTD 04/30/2021 0.750% 04/30/2026
2/10/2022 2/14/2022

US TREASURY NOTES
DTD 04/30/2021 0.750% 04/30/2026
775,000.00
800,000.00
200,000.00
900,000.00
250,000.00
900,000.00
750,000.00
9,500,000.00
975,000.00
2,100,000.00
250,000.00
1,200,000.00
1/4/2022
7/5/2022
9/1/2022
6/2/2022
5/3/2022
1/6/2022
7/8/2022
9/6/2022
6/6/2022
5/5/2022
990.04 764,805.06
757,053.78
186,113.31
849,690.71
235,547.48
847,598.81
711,511.02
9,066,727.08
924,443.09
1,993,617.56
234,425.01
1,164,988.74
716,996.06
732,750.00
183,187.50
824,343.75
228,984.38
824,343.75
686,953.12
8,983,437.50
921,984.38
1,985,812.50
236,406.25
1,154,625.00

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
2,092.39
US TREASURY NOTES 523.10
DTD 07/31/2021 0.625% 07/31/2026

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
2,353.94
US TREASURY NOTES 653.87
DTD 07/31/2021 0.625% 07/31/2026

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026
8/8/2022 8/15/2022
8/1/2022 8/4/2022
2,353.94
1,961.62
24,532.97
2,517.86
5,423.08
645.60

US TREASURY NOTES
DTD 07/31/2021 0.625% 07/31/2026

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
1/13/2023 1/17/2023
US TREASURY NOTES 1/4/2023 1/6/2023
DTD 11/15/2016 2.000% 11/15/2026

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
12/5/2022 12/7/2022
11/1/2022 11/4/2022
1/31/2023 2/3/2023

US TREASURY NOTES
DTD 11/15/2016 2.000% 11/15/2026
US TREASURY NOTES 5,620.88
DTD 04/30/2022 2.750% 04/30/2027
32 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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 07/31/2022 2.750% 07/31/2027
91282CFB2
91282CFB2
91282CFB2
91282CFB2
91282CFZ9
825,000.00
600,000.00
AA+
AA+
AA+
AA+
AA+
Aaa
Aaa
Aaa
Aaa
Aaa
6/2/2023
7/3/2023
5/1/2023
3/2/2023
6/6/2023
7/7/2023
5/5/2023
3/6/2023
786,779.30 3.97
565,640.63 4.30
362,329.10 3.62
746,531.25 4.44
1,184,109.38 4.24
21,307,463.89 3.59
9,494.23
6,904.89
4,315.56
9,206.52
4,065.57
83,755.30
792,048.51
569,759.13
792,128.86
US TREASURY NOTES 576,093.72
DTD 07/31/2022 2.750% 07/31/2027

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
375,000.00 364,301.77 360,058.58

US TREASURY NOTES
DTD 07/31/2022 2.750% 07/31/2027
800,000.00 756,540.01 768,124.96

US TREASURY NOTES
DTD 11/30/2022 3.875% 11/30/2027
1,200,000.00
22,675,000.00
12/1/2023 12/5/2023 1,184,404.05
21,676,370.94
1,197,937.44
Security Type Sub-Total 21,432,937.28
Supranational

INTER-AMERICAN DEVEL BK NOTES
DTD 09/23/2021 0.500% 09/23/2024
4581X0DZ8 635,000.00 AAA Aaa 9/15/2021 9/23/2021 634,530.10 0.52 864.31 634,885.95 614,581.58 Security Type Sub-Total 635,000.00 634,530.10 0.52 864.31 634,885.95 614,581.58 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
4,760.00
4,009.25
8,769.25
450,000.00
450,000.00
900,000.00
458,633.30
446,945.85
905,579.15
NORDEA BANK ABP NEW YORK CERT 65558UYF3
DEPOS
DTD 11/03/2022 5.530% 11/03/2025
AA- Aa3
Security Type Sub-Total
Municipal

CT ST TXBL GO BONDS
DTD 06/11/2020 1.998% 07/01/2024
20772KJW0 60,000.00 AAAAAa3
Aa1
5/29/2020 6/11/2020
11/6/2019 12/5/2019
60,000.00 2.00
100,000.00 2.10
599.40
875.42
60,000.00 58,998.60
CHAFFEY UHSD, CA TXBL GO BONDS 157411TK5 98,242.00
DTD 12/05/2019 2.101% 08/01/2024
100,000.00 100,000.00
33 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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

NY ST URBAN DEV CORP TXBL REV
BONDS
650036DT0 325,000.00 NR NR 12/16/2020 12/23/2020 325,000.00 0.87 832.54 325,000.00 308,376.25 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
65,000.00
AA
AA
Aa2
Aa3
7/10/2020 7/16/2020
9/3/2020 9/16/2020
85,000.00 0.88
65,459.55 1.11

95.90 85,000.00
65,143.72
80,679.45
FL ST BOARD OF ADMIN TXBL REV 61,727.25
BONDS
408.85
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 AA
AA
Aa3
Aa3
9/3/2020 9/16/2020
9/3/2020 9/16/2020
85,563.55 1.12
160,000.00 1.26
534.65 85,176.25 80,720.25

FL ST BOARD OF ADMIN TXBL REV
BONDS
160,000.00 1,006.40 160,000.00 151,944.00
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
461.50
450.92
130,000.00
140,000.00
122,638.10
LOS ANGELES CCD, CA TXBL GO 131,584.60
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
262.50
122.12
100,000.00
85,000.00
94,005.00
CA ST UNIV TXBL REV BONDS 79,352.60
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 1.58
3,230.67
8,880.87
200,000.00
1,535,319.97
202,548.00
Security Type Sub-Total 1,470,816.10
Joint Powers Authority
CAMP Pool 116,772.96 AAAm NR 116,772.96 0.00 116,772.96 116,772.96 Security Type Sub-Total 116,772.96 116,772.96 0.00 116,772.96 116,772.96 34 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
Federal Agency

FEDERAL HOME LOAN BANK NOTES
DTD 04/16/2020 0.500% 04/14/2025
3130AJHU6
3135G03U5
3137EAEU9
3135G05X7
3130AK5E2
3137EAEX3
3135G06G3
350,000.00
350,000.00
425,000.00
350,000.00
150,000.00
700,000.00
650,000.00
2,975,000.00
AA+
AA+
AA+
AA+
AA+
AA+
AA+
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
Aaa
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
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
2,963,904.50 0.52
374.31 349,553.63
349,811.45
424,342.07
349,459.39
149,848.60
699,271.10
649,136.16
2,971,422.40
332,520.30
332,732.05
399,351.68
327,743.50
140,413.65
653,903.60
606,037.25
2,792,702.03

FANNIE MAE NOTES
DTD 04/24/2020 0.625% 04/22/2025
419.27
708.33
459.38
182.81
714.58
487.50
3,346.18

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

FANNIE MAE NOTES
DTD 11/12/2020 0.500% 11/07/2025
Security Type Sub-Total
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
6,144.44
225.31
189.58
400,000.00
104,996.31
209,976.22
399,574.80
103,883.33
206,645.25

CHARLES SCHWAB CORP NOTES
(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

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
2,669.44
106.67
401,565.44
399,804.78
397,572.00
AMERICAN HONDA FINANCE CORP 394,030.80
NOTE
DTD 06/27/2019 2.400% 06/27/2024

GOLDMAN SACHS GROUP INC
(CALLABLE) BONDS
38141EC23 400,000.00 BBB+ A2 7/8/2019 7/11/2019 418,632.00 2.84 7,400.56 401,053.63 396,079.60 DTD 07/08/2014 3.850% 07/08/2024
35 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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

BMW US CAPITAL LLC CORPORATE
NOTES
DTD 08/12/2021 0.750% 08/12/2024
05565EBU8
254687FK7
69371RQ66
025816CQ0
771196BT8
437076CM2
90327QD89
17252MAP5
369550BG2
70,000.00
400,000.00
175,000.00
80,000.00
410,000.00
25,000.00
225,000.00
65,000.00
225,000.00
315,000.00
475,000.00
250,000.00
A
AA2A2
8/9/2021 8/12/2021 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
224,264.25 3.49
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
202.71 69,998.71
399,783.00
177,032.98
79,968.45
410,000.00
24,981.54
224,666.13
64,993.65
232,443.47
315,000.00
474,933.77
250,000.00
68,080.18
390,472.00
169,285.73
77,427.60
397,900.49
24,381.63
220,595.85
63,830.39
220,957.65
309,543.57
450,045.88
245,772.50

WALT DISNEY COMPANY/THE
(CALLABLE)
DTD 09/06/2019 1.750% 08/30/2024
9/3/2019 9/6/2019 2,352.78
1,268.75
585.00

PACCAR FINANCIAL CORP

CORPORATE NOTES
DTD 02/06/2020 1.800% 02/06/2025
A+
BBB+
AA
A
A1 10/22/2020 10/29/2020

AMERICAN EXPRESS CO CORP

NOTES (CALLABLE
DTD 03/04/2022 2.250% 03/04/2025
A2 3/1/2022 3/4/2022

ROCHE HOLDINGS INC (CALLABLE)

CORPORATE
DTD 03/10/2022 2.132% 03/10/2025
Aa2
A2
3/3/2022 3/10/2022
3/24/2022 3/28/2022
5/23/2022 5/26/2022
4/26/2022 5/3/2022
10/16/2020 10/20/2020
5/24/2021 6/1/2021
2,695.20
HOME DEPOT INC (CALLABLE) 142.50

CORPORATE NOTE
DTD 03/28/2022 2.700% 04/15/2025

USAA CAPITAL CORP CORPORATE
NOTES
DTD 05/26/2022 3.375% 05/01/2025
AA
AAa1A3
1,265.63
CINTAS CORPORATION NO. 2 CORP 373.75

NOTE (CALL
DTD 05/03/2022 3.450% 05/01/2025

GENERAL DYNAMICS CORP
(CALLABLE) CORP NO
DTD 05/11/2018 3.500% 05/15/2025
A- A3 1,006.25
JPMORGAN CHASE & CO (CALLABLE) 46647PCH7 216.30

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
AA
AAA1 6/3/2020 6/5/2020 295.56

NATIONAL AUSTRALIA BK/NY

CORPORATE NOTES
Aa3 5/31/2022 6/9/2022 534.72
DTD 06/09/2022 3.500% 06/09/2025
36 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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

CORPORATE NOTES
63743HFE7 50,000.00 A- A2 4/27/2022 5/4/2022 49,986.50 3.46 76.67 49,993.70 48,968.05 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
3,850.00
3,632.81
2,567.19
225,000.00
235,209.68
235,134.20
222,493.28
222,185.03
222,583.05

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
91324PEC2
05565EBW4
14913R2U0
87612EBM7
06406RBA4
594918BY9
225,000.00
175,000.00
225,000.00
175,000.00
225,000.00
40,000.00
AAA+
A
A1
A1
A2
A2
A2
A2
A1
Aaa
12/1/2021 12/6/2021
2/16/2022 2/24/2022
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
225,000.00 1.53
175,000.00 2.60
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
239.06
1,602.05
330.63
225,000.00
175,000.00
224,814.13
174,972.51
224,311.76
39,958.46
216,295.43
169,541.93
208,299.60
160,218.63
207,993.83
37,327.28

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

BMW US CAPITAL LLC (CALLABLE)

CORPORATE
DTD 08/12/2021 1.250% 08/12/2026
844.62

CATERPILLAR FINL SERVICE

CORPORATE NOTES
DTD 01/10/2022 1.700% 01/08/2027
A 1,838.13
TARGET CORP CORP NOTES 359.67
(CALLABLE)
DTD 01/24/2022 1.950% 01/15/2027
A

BANK OF NY MELLON CORP
(CALLABLE) CORPOR
DTD 01/26/2022 2.050% 01/26/2027
475,000.00
750,000.00
A 4,192.53
9,968.75
474,351.92
727,664.49
441,818.88
MICROSOFT CORP CORP NOTES 730,581.75
(CALLABLE)
AAA
DTD 02/06/2017 3.300% 02/06/2027
37 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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

AMERICAN EXPRESS CO CORP

NOTES (CALLABLE
DTD 03/04/2022 2.550% 03/04/2027
025816CS6 300,000.00
475,000.00
300,000.00
500,000.00
BBB+
AA
A2
Aa2
A2
1/13/2023 1/18/2023
3/15/2022 3/17/2022
2/17/2023 2/22/2023
1/13/2023 1/18/2023
277,203.00 4.59
466,089.00 2.70
284,925.00 4.66
488,325.00 4.50
2,486.25
3,216.81
2,475.00
1,193.19
282,470.83
469,288.95
288,072.75
490,859.56
280,753.50
447,941.15
285,968.70
489,165.50
BERKSHIRE HATHAWAY CORP NOTES 084664CZ2
(CALLABLE)
DTD 03/15/2022 2.300% 03/15/2027

CHARLES SCHWAB CORP NOTES
(CALLABLE)
DTD 09/24/2021 3.300% 04/01/2027
808513BW4
63254ABE7
ANATIONAL AUSTRALIA BK/NY

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
6,804.93
8,141.93
747,938.40
376,050.55
742,405.83
TOYOTA MOTOR CREDIT CORP 379,230.38

CORPORATE NOTES
DTD 01/12/2023 4.625% 01/12/2028

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
375,000.00
60,000.00
375,000.00
AA+
A
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
358,263.75 4.93
59,892.00 4.49
377,865.00 4.78
4,760.00
1,477.11
5,321.88
341.17
332,785.82
86,769.83
360,989.77
59,905.14
377,612.58
334,339.60
86,368.59
368,560.88
60,281.76
384,516.00

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)
DTD 05/25/2023 4.450% 05/15/2028
AAA2

JOHN DEERE CAPITAL CORP

CORPORATE NOTES
A2 8,610.94
DTD 07/14/2023 4.950% 07/14/2028
38 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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

CITIBANK NA CORP NOTES
(CALLABLE)
17325FBB3 750,000.00 A+ Aa3 10/2/2023 10/4/2023 746,280.00 5.92 11,122.42 746,438.29 780,822.75 DTD 09/29/2023 5.803% 09/29/2028
Security Type Sub-Total 12,365,000.00 12,345,941.55 3.13 113,128.89 12,271,791.40 12,064,740.63 Agency CMBS
FHMS K043 A2
DTD 03/01/2015 3.062% 12/01/2024
3137BGK24
3137BNGT5
3137BSP72
3137BTUM1
3137BXQY1
246,403.24
275,000.00
550,000.00
379,432.02
550,000.00
550,000.00
400,000.00
550,000.00
438,814.98
550,000.00
800,000.00
500,000.00
500,000.00
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
AA+
Aaa
Aaa
Aaa
Aaa
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
12/6/2023 12/14/2023
7/13/2023 7/20/2023
7/19/2023 7/27/2023
7/18/2023 7/31/2023
9/7/2023 9/14/2023
258,607.89 1.95
263,613.28 4.37
526,839.84 4.02
367,752.63 4.31
518,804.69 4.98
527,033.20 4.44
399,996.80 4.86
555,493.40 4.59
438,804.03 4.78
540,675.78 4.58
788,165.60 4.99
489,032.00 5.26
494,023.50 5.07
628.74
629.06
248,791.42
266,617.63
531,905.53
369,815.34
522,090.95
530,375.63
399,996.83
554,983.61
438,805.01
541,474.85
788,806.98
489,440.69
494,301.33
241,470.71
265,159.80
525,101.46
368,373.42
531,336.07
530,852.51
405,352.19
559,019.43
440,732.53
546,132.14
809,248.43
507,553.87
509,185.98
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
1,058.30
1,477.67
1,486.38
1,619.33
2,208.71
1,746.85
1,920.42
3,100.00
1,975.00
2,000.00
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 KJ48 A1
DTD 12/01/2023 4.858% 05/01/2028
3137HBC69
3137HACX2
3137HAD45
3136BQDE6
3137HAMH6
3137HAQ74
3137HAMS2
FHMS K505 A2
DTD 07/01/2023 4.819% 06/01/2028
FHMS KJ46 A1
DTD 07/01/2023 4.777% 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 K508 A2
DTD 10/01/2023 4.740% 08/01/2028
Aaa 10/11/2023 10/19/2023
FHMS K507 A2 Aaa 9/20/2023 9/28/2023
DTD 09/01/2023 4.800% 09/01/2028
39 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 2023
CITY OF LAKE ELSINORE Portfolio Holdings
Security Type/Description
Dated Date/Coupon/Maturity
S&P
Rating
Moody's Trade
Rating Date
Settle
Date
Original
Cost
YTM
at Cost
Accrued
Interest
Amortized
Cost
Market
CUSIP Par Value
Agency CMBS
FHMS K509 A2
DTD 10/01/2023 4.850% 09/01/2028
3137HAST4
3137HB3G7
3137HB3D4
375,000.00
275,000.00
180,000.00
7,119,650.24
AA+
AA+
AA+
Aaa 10/25/2023 10/31/2023
Aaa 11/28/2023 12/7/2023
Aaa 11/14/2023 11/21/2023
363,043.88 5.60
274,209.93 4.93
179,479.62 5.14
6,985,576.07 4.69
1,515.63
1,113.75
760.35
363,410.25
274,219.71
179,490.12
6,994,525.88
382,526.16
280,826.30
185,097.21
7,087,968.21
FHMS K511 A2
DTD 12/01/2023 4.860% 10/01/2028
FHMS K510 A2
DTD 11/01/2023 5.069% 10/01/2028
Security Type Sub-Total
ABS
24,456.15
HART 2021-A A3
DTD 04/28/2021 0.380% 09/15/2025
44933LAC7
65480BAC1
89190GAC1
43815GAC3
14314QAC8
44935FAD6
254683CP8
362554AC1
14318MAD1
65480JAC4
36265QAD8
891940AC2
21,690.17
133,305.37
132,375.83
69,655.21
44,027.41
55,241.14
195,000.00
61,236.98
210,000.00
140,000.00
275,000.00
245,000.00
AAA
AAA
AAA
NR
NR
Aaa
NR
4/20/2021 4/28/2021
6/15/2021 6/23/2021
6/8/2021 6/14/2021
21,687.89 0.38
133,303.10 0.33
132,361.56 0.26
69,640.53 0.89
44,017.91 0.52
55,228.80 0.75
194,958.25 0.58
61,235.41 0.68
209,995.04 3.97
139,971.03 4.46
274,954.93 4.82
244,999.88 4.63

3.66 19.55

15.30 17.03

10.18 18.17

50.27 17.35
370.53
277.51
552.29
504.16
21,689.28
133,304.43
132,369.78
69,647.95
44,023.22
55,234.63
194,977.26
61,236.11
209,996.56
139,978.91
274,966.29
244,999.90
21,394.07
130,387.22
129,378.38
67,579.09
43,051.23
53,766.56
188,543.45
59,216.83
207,139.07
139,020.59
273,901.27
243,659.48
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
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
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
Aaa
NR
NR
7/12/2022 7/20/2022
9/20/2022 9/28/2022
10/4/2022 10/12/2022
1/24/2023 1/30/2023
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
40 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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
COMET 2022-A3 A
DTD 11/03/2022 4.950% 10/15/2027
14041NGB1
41285JAD0
344928AD8
43815QAC1
254683CY9
02582JJZ4
14041NGD7
05522RDG0
254683CZ6
438123AC5
31680EAD3
161571HT4
02582JKD1
05522RDH8
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
85,000.00
AAA
NR
NR
Aaa
NR
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
11/1/2023 11/8/2023
8/15/2023 8/23/2023
9/7/2023 9/15/2023
9/12/2023 9/19/2023
12/7/2023 12/14/2023
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
84,985.03 5.67
349,978.30 5.53
404,887.73 5.17
409,981.67 5.23
179,975.83 4.98
5,396,794.25 4.33
539.00 244,970.58
169,985.92
129,988.54
319,939.33
319,984.17
189,985.03
489,901.36
169,965.78
349,957.59
84,985.45
246,024.61
169,586.32
129,403.27
324,447.46
317,760.99
191,464.35
487,976.84
170,556.34
352,800.39
86,794.19
HDMOT 2023-A A3
DTD 02/23/2023 5.050% 12/15/2027
381.56
268.67
625.16
612.98
411.24
962.58
361.91
766.89
133.88
860.22
928.80
953.02
423.30
10,085.21
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
NR
DCENT 2023-A1 A
DTD 04/11/2023 4.310% 03/15/2028
Aaa
AMXCA 2023-1 A NR
DTD 06/14/2023 4.870% 05/15/2028
AAA
AAA
AAA
AAA
NR
COMET 2023-A1 A
DTD 05/24/2023 4.420% 05/15/2028
NR
BACCT 2023-A1 A1
DTD 06/16/2023 4.790% 05/15/2028
NR
DCENT 2023-A2 A
DTD 06/28/2023 4.930% 06/15/2028
Aaa
Aaa
Aaa
NR
HAROT 2023-4 A3
DTD 11/08/2023 5.670% 06/21/2028
FITAT 2023-1 A3
DTD 08/23/2023 5.530% 08/15/2028
350,000.00
405,000.00
410,000.00
180,000.00
5,397,532.11
AAA
AAA
AAA
NR
349,979.86
404,893.60
409,982.59
179,976.04
5,396,920.16
353,832.05
411,241.05
417,045.97
181,861.99
5,397,833.06
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
NR
BACCT 2023-A2 A2
DTD 12/14/2023 4.980% 11/15/2028
Aaa
Security Type Sub-Total
Managed Account Sub Total
Securities Sub Total
Accrued Interest
53,602,182.35
$53,718,955.31
52,070,233.46 3.49 253,286.16 52,381,236.70
$52,498,009.66
51,767,158.04
$51,883,931.00
$253,286.16
$52,187,006.42 3.49% $253,286.16
41 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 2023
CITY OF LAKE ELSINORE Portfolio Holdings
Total Investments $52,137,217.16
42 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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. 43 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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. 44 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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.
45 © PFM Asset Management LLC | pfmam.com
For the Quarter Ended December 31, 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. 46 © PFM Asset Management LLC | pfmam.com
5) Second Reading of an Ordinance Increasing City Council Compensation 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 (LEMC) SECTION 2.08.020 FOR THE PURPOSE OF INCREASING CITY COUNCIL COMPENSATION TO $1,600 PER MONTH.

Page 1 of 1 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Candice Alvarez, MMC, City Clerk
Date: March 12, 2024
Subject: Second Reading of an Ordinance Increasing City Council Compensation Recommendation
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 (LEMC) SECTION 2.08.020 FOR THE PURPOSE OF INCREASING CITY COUNCIL COMPENSATION TO $1,600 PER MONTH.

Background/Discussion
At its Regular meeting on February 27, 2024, the City Council introduced by title only and waived further reading of the Ordinance.

Attachments
Attachment 1 - Ordinance
ORDINANCE NO. 2024-1497

AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE,

CALIFORNIA, AMENDING LAKE ELSINORE MUNICIPAL CODE (LEMC) SECTION 2.08.020 COMPENSATION, FOR THE PURPOSE OF INCREASING CITY COUNCIL COMPENSATION TO $1,600 PER MONTH
Whereas, Government Code Section 36516 et seq. authorizes cities to enact Ordinances setting City Council Member salaries based on population or increased amounts equal to five percent for each calendar year from the operative date of the last adjustment; and Whereas, effective January 1, 2024, with the passage of Senate Bill 329 (Dodd), Government Code Section 36516 provides that councilmembers in a city with a population of 50,000 – 75,000 based upon either a federal census or an estimate of population validated by the California Department of Finance are authorized to receive a salary of $1,600 per month; and Whereas, the current City Council compensation was set by Ordinance No.2022-1477 at $744 per month commencing January 2023; and
Whereas, the City’s population as reported in the 2020 Decennial Census is 70,265; and Whereas, compensation increases will only occur after the next election and the seating of the newly elected Councilmembers.

NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF LAKE ELSINORE DOES ORDAIN AS FOLLOWS:

Section 1. LEMC Section 2.08.020, Compensation, is hereby amended in its entirety, as follows:
“2.08.020 Compensation.

Members of the City Council shall each receive compensation for their services in the sum $1,600 per month.”
Section 2. CEQA. This Ordinance is exempt from the California Environmental Quality Act in accordance with Section 15061(b) (3) there is no possibility that the activity in question may have a significant effect on the environment.

Section 3. Severability. If any provision of this Ordinance or its application is held invalid by a court of competent jurisdiction, such invalidity shall not affect other provisions, sections, or applications of the Ordinance which can be given effect without the invalid provision or application, and to this end each phrase, section, sentence, or word is declared to be severable.

Section 4. Effective Date. This Ordinance shall become effective at 12:01 a.m. on the thirty-first (31st) day after the date of adoption; provided, however, as required by Government Code Section 36516.5, Councilmembers shall not be eligible for the $1,600.00 salary described in Section 1 of this Ordinance until the term of office begins for Councilmembers elected at the November 2024 General Municipal Election. Until such time, Councilmembers shall continue to receive $744.00 per month salary.

Ord. No. 2024-1497

Page 2 of 2 ends

Section 5. Certification. The City Clerk shall certify to the passage of this Ordinance and shall cause a synopsis of the same to be published according to law.

Passed, Approved, and Adopted at a regular meeting of the City Council of the City of Lake Elsinore, California, on this 27th day of February 2024.

Steve Manos
Mayor
Attest:

Candice Alvarez, MMC
City Clerk

STATE OF CALIFORNIA )
COUNTY OF RIVERSIDE ) ss.

CITY OF LAKE ELSINORE )
I, Candice Alvarez, MMC, City Clerk of the City of Lake Elsinore, California, do hereby certify that Ordinance No. 2024-1497 was introduced by the City Council of the City of Lake Elsinore, California, at its Regular meeting of February 27, 2024 and adopted at its Regular meeting of March 12, 2024 and that the same was adopted by the following vote:

AYES:

NOES:

ABSENT:

ABSTAIN:

Candice Alvarez, MMC
City Clerk
6) Appointment of City Treasurer to Complete the Current Term and Receive Additional Information Regarding Whether the Position of City Treasurer Should Be Elective or Appointive

1. Approve the Budget Subcommittee's recommendation to appoint Edwin Castro as the City Treasurer to complete a term ending in December 2024; and

Page 1 of 3 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Candice Alvarez, MMC, City Clerk
Date: March 12, 2024
Subject: Appointment of City Treasurer to Complete the Current Term and Receive Additional Information Regarding Whether the Position of City Treasurer Should Be Elective or Appointive
Recommendation

1. Approve the Budget Subcommittee's recommendation to appoint Edwin Castro as the City Treasurer to complete a term ending in December 2024; and

Background
At its Regular meeting on February 13, 2024, the City Council unanimously directed staff to solicit applications until March 1, 2024, directed the Budget Subcommittee to review applications and make a recommendation to be presented to the City Council at its meeting on March 12, 2024.

Additionally, the City Council requested additional information regarding changing the elected City Treasurer position from elective to appointive.

City Treasurer

Page 2 of 3 ends

Discussion
Two applications were received during the application period. After reviewing applications, the Budget Subcommittee is recommending appointment of NAME for formal appointment by the full City Council.

Regarding changing the elected City Treasurer position from elective to appointive, the California Government Code addresses the election process for this ballot question for a General Law city.

Section 36508. "At any municipal election, or a special election held for that purpose, the city council may submit to the electors the question whether the elective officers, or any of them except council members, shall be appointed by the city council; provided, however, that the city council shall not submit such question to the electors more often than once in an 11-month period."
Section 36509. "The question shall be printed on the ballots used at the election substantially in one of the following forms:
(c) "Shall the office of City Treasurer be appointive?" The words "yes" and "no" shall be so printed on the ballots that the voters may express their choice."
Section 36510. "If a majority of the votes cast on the proposition is for it, the city council shall appoint such officers at the expiration of the terms of the officers then in office and on a vacancy in any such office. Such officers shall hold office during the pleasure of the city council and, notwithstanding Section 36502 to the contrary, are not required to be residents or electors in the city. The City Council may, by ordinance, vest in the City Manager its authority to appoint such officers."
To place a ballot measure before the electorate, the City Council must adopt a resolution that:
• Submits proposed ballot measure wording (including whether the full text will be printed) to the Riverside County Registrar of Voters;
• Authorizes City Council Members and other individuals (up to five) to file a written argument regarding the measure, including providing for the filing of rebuttal arguments to the measure in accordance with filing deadlines; and • Directs the City Attorney to prepare an impartial analysis of the measure.

Elective Versus Appointive City Treasurer
On April 12, 1988, the City Council submitted a measure to the Lake Elsinore electorate to ask, "Shall the office of City Treasurer be appointive?" The electorate voted 1,025 to 683 to keep the City Treasurer an elected position. Furthermore, Elected City Treasurer Baldwin strongly advocated changing the position from elective to appointive to ensure that a qualified and experienced municipal finance and municipal accounting professional fills the position.

City Treasurer

Page 3 of 3 ends

A survey of nine surrounding Cities resulted in seven having an appointed City Treasurer and the remaining two having an elected position. The Cities with the appointed City Treasurer are also their Finance or Administrative Services Director who fulfill the treasurer duties within their director classification.

Ballot Measure Timing
The Resolution calling for the Municipal Election must be adopted at least 88 days before the election, which for the November 5, 2024 election would be by August 9, 2024. The last regular City Council meeting before the 88-day deadline is July 23, 2024.

The appointed City Treasurer will fulfill the position's duties until the November 5, 2024 Municipal Election. Should the measure pass, the position will become appointive as of December 2024.

Fiscal Impact
There is no fiscal impact associated with this item. However, should the Council direct staff to prepare the Resolution to place the measure on the ballot, the cost to the City to place this question on the November 2024 ballot will vary depending on the number of words in the measure and the amount of information included in the voter information pamphlet. Riverside County Registrar of Voters Office has advised that the estimated cost is approximately $38,000 for the measure, which will need to be budgeted in the General Fund.

Attachments
Attachment 1 - Application – Edwin Castro

If Yes, please explain.

Please note
The selected Applicant will be required to take an Oath of Office and file a completed Statement of Economic Interest form.

Applicant's Declaration and Signature
I certify under penalty of the perjury laws of the State of California that all information on this form is true and correct. By typing my name and the date completed on this form, I am affirming my intent to be a candidate for appointment as the City Treasurer for the City of Lake Elsinore. If appointed I pledge to follow the laws of the City of Lake Elsinore, the County of Riverside, and the State of California, the policies as set forth by the City Council, and to conduct myself in such a manner as to be a good representative of the City.

Signature (Please type your name)*
Edwin Castro
Date*
2/21/2024
7) Reimbursement of Low and Moderate Income Housing Asset Fund for Spring Street Properties to Be Utilized as Parking for New Library Project

1. Find that the twelve City parcels located on Spring Street between Sumner and Heald adjacent to the flood control channel (APN 374-162-039, -041, -043, -045, -047, -049, - 051, -053, -055, -057, -059, and -061) are not suitable for affordable housing purposes and can best serve and promote the health, safety, and welfare of City residents by providing necessary parking for the new downtown Library project; and

2. Authorize and direct the City Manager to reimburse the Low and Moderate Income Housing Asset Fund in the amount of $350,000.

Page 1 of 2 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Shannon Buckley, Assistant City Manager
Date: March 12, 2024
Subject: Reimbursement of Low and Moderate Income Housing Asset Fund for Spring Street Properties to Be Utilized as Parking for New Library Project Recommendation

1. Find that the twelve City parcels located on Spring Street between Sumner and Heald adjacent to the flood control channel (APN 374-162-039, -041, -043, -045, -047, -049, -051, - 053, -055, -057, -059, and -061) are not suitable for affordable housing purposes and can best serve and promote the health, safety, and welfare of City residents by providing necessary parking for the new downtown Library project; and

2. Authorize and direct the City Manager to reimburse the Low and Moderate Income Housing Asset Fund in the amount of $350,000.

Background
The City recently received a $10 million grant for the construction of a new 10,000 square foot Library. As depicted on the attached Vicinity Map, the new Library facility will be located on North Main Street at the corner of West Sumner Avenue and extending to N. Spring Street.

On February 13, 2024, the City Council approved a Professional Services Agreement for conceptual design services for the new Library facility. In addition to the main Library area, the new Library facility will include one community meeting room, two study rooms, a children's area, a teen area, and a public work room with individual workstations.

The downtown location of this exciting Library project will replace the existing Altha Merrifield Memorial Library which, despite crucial structural and maintenance issues that discourage residents from fully utilizing its resources, attracts an average of over 5,800 monthly visitors and organizes 87 educational and social programs annually. The new Library facility will be a vital public resource in the Downtown area and is expected to draw many more Lake Elsinore residents and visitors.

Library Project Parking

Page 2 of 2 ends

City staff is proposing to utilize City property on Spring Street for Library parking. Without the Spring Street parcels to support the parking needs for the new facility, the Library building would have to be two-stories in order to accommodate adequate parking on-site. This would significantly increase costs. With the proposed Spring Street parking site, the Library can be designed as onestory with greater lot coverage and with cost efficiency.

Discussion
The City’s Spring Street Property consists of twelve contiguous shallow parcels comprising a total of 1.9 acres adjacent to the Flood Control Channel. The City Property was acquired by the City from the Successor Agency in May 2017 following approval by the Successor Agency, the Oversight Board and the State Department of Finance. The City, in capacity as housing successor to the former Redevelopment Agency’s affordable housing assets and obligations, acquired the City Property for $350,000. The City Property is located in the Downtown Elsinore Specific Plan and is designated as Mixed Use.

Due to the configuration of the City Property and associated development constraints, staff has determined that is it not a viable affordable housing project site. There are no current affordable housing project proposals for the City Property and alternative sites are available in the downtown area and citywide for affordable housing purposes. These include the proposed downtown affordable housing projects at Riley/Heald and at Spring/Pottery/Flint. Although the City Property was acquired for affordable housing purposes, the proposed Library facility parking use is a preferred and more appropriate use of the City Property that will stimulate activity in the downtown area, provide valuable public services with a greater public benefit to the existing and future downtown residents and to residents and visitors citywide.

Fiscal Impact
Changing the proposed use of the City property from an affordable housing project site to an alternative municipal use requires that the City reimburse the Low and Moderate Income Housing Asset Fund (LMIHAF) the $350,000 purchase price. The funds deposited into the LMIHAF will be used solely for affordable housing purposes consistent with applicable law, including Health & Safety Code 34176.1.

Attachments
Attachment 1- Library Parking Lot Site Map
Sumner Avenue
Main Street
Library Site
Cultural Center
Additional Parking for Library
8) Professional Services Agreement with Inland Foundation Engineering, Inc. for Geotechnical Investigation Services of the New City Library Project (CIP Project Z20003)
Approve and authorize the City Manager to execute a Professional Services Agreement with Inland Foundation Engineering, Inc. in the amount of $18,000.00 for Geotechnical Investigation Services of the New City Library Project in such final form as approved by the City Attorney; and authorize the City Manager to approve change orders up to 10% of the agreement in the amount of $1,800.00.

Page 1 of 2 ends

REPORT TO CITY COUNCIL
To: Honorable Mayor and Members of the City Council
From: Jason Simpson, City Manager
Prepared by: Shannon Buckley, Assistant City Manager
Date: March 12, 2024
Subject: Professional Services Agreement with Inland Foundation Engineering, Inc. for Geotechnical Investigation Services of the New City Library Project (CIP Project Z20003)
Recommendation
Approve and authorize the City Manager to execute a Professional Services Agreement with Inland Foundation Engineering, Inc. in the amount of $18,000.00 for Geotechnical Investigation Services of the New City Library Project in such final form as approved by the City Attorney; and authorize the City Manager to approve change orders up to 10% of the agreement in the amount of $1,800.00.

Background
Staff has engaged the services of Inland Foundation Engineering, Inc. to provide geotechnical investigation services on the new library building site. These services are needed to study and evaluate the nature, distribution, and engineering properties of the geologic strata underlying the site with respect to the proposed building development and to provide geotechnical recommendations as necessary for construction.

Discussion
These services are standard geotechnical engineering services for the site development of the project and will include the needed engineering construction documentation to effect the complete site development. Key tasks are included in the following:

Geologic Documentation Review – The review will document pertinent geologic literature in the construction files, including groundwater records, liquefaction, hazard maps, and earthquake fault maps. The review will also include historical aerial photographs and a site reconnaissance to document and map current surface conditions.

Lake Elsinore Library

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Subsurface Exploration – Four (4) geotechnical borings will be made at this site utilizing a truckmounted hollow-stem auger drill rig to evaluate the underlying geologic conditions. Borings at the site will be drilled to target depths ranging from 15 to 50 feet below the ground surface, or to practical refusal (i.e., bedrock), or, whichever occurs first.

Laboratory Testing – Laboratory testing will include, but may not necessarily be limited to:
• Unit Weight
• Moisture Content
• Sieve Analysis
• R-value
• Expansion Index
• Plastic Index
• Direct Shear Strength
• Consolidation
• Corrosivity
• Maximum Density and Optimum
Moisture Content
An engineering analysis and report will be prepared based on the subsurface exploration and laboratory testing, with the development of conclusions and engineering recommendations for the design and construction of the proposed library. These conclusions and recommendations will be presented in a formal report, which will also include field and laboratory test data.

Fiscal Impact
The new City Library project (CIP Project Z20003) is included in the Fiscal Year 23/24 – 27/28 Capital Improvement Plan (CIP) budget. And is funded by a Riverside County Library Grant.

Attachments
Attachment 1 - Agreement Inland Foundation Engineering
Exhibit A - Proposal Lake Elsinore Library
I Page 1

AGREEMENT FOR CONTRACTOR SERVICES
Inland Foundation Engineering, Inc.

GeoTechnical Engineering Services
This Agreement for Contractor Services (the “Agreement”) is made and entered into as of March 12, 2024, by and between the City of Lake Elsinore, a municipal corporation (‘‘City") and Inland Foundation Engineering, Inc., a Licensed Contractor ("Contractor").

RECITALS
A. The City has determined that it requires the following contractor services:

GeoTechnical Engineering Services
B. Contractor has submitted to City a proposal, dated March 1, 2024, attached hereto as Exhibit A (“Contractor’s Proposal”) and incorporated herein, to provide contractor services to City pursuant to the terms of this Agreement.

C. Contractor possesses the skill, experience, ability, background, certification and knowledge to perform the services described in this Agreement on the terms and conditions described herein.

D. City desires to retain Contractor to perform the services as provided herein and Contractor desires to provide such contractor services as set forth in this Agreement.

AGREEMENT

1. Scope of Services. Contractor shall perform the services described in Contractor’s Proposal (Exhibit A). Contractor shall provide such services at the time, place, and in the manner specified in Contractor’s Proposal, subject to the direction of the City through its staff that it may provide from time to time.

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 professional services to be performed by Contractor is an essential condition of this Agreement. Contractor shall prosecute regularly and diligently the professional services contemplated pursuant to this Agreement according to the agreed upon performance schedule in Contractor’s Proposal (Exhibit A). b. Performance Schedule. Contractor shall commence the services pursuant to this Agreement upon receipt of a written notice to proceed and shall perform all services 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.

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c. Term. The term of this Agreement shall commence upon execution of this Agreement and shall continue until the services and related work are completed in accordance with the Contractor’s Proposal (Exhibit A).

3. Compensation. Compensation to be paid to Contractor shall be in accordance with the fees set forth in Contractors’ Proposal (Exhibit A), which is attached hereto and incorporated herein by reference. In no event shall Contractor’s compensation exceed eighteen thousand dollars ($18,000.00) 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 Section, the Contractor will submit an invoice to the City, pursuant to Section entitled “Method of Payment” herein.

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7. Plans, Studies, 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 thirdparty 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 in connection with the performance of this Agreement shall be held confidential by Contractor. Such materials shall not, without the prior written consent of City, be used by Contractor 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.

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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 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. 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 and except for the fees paid to Contractor as provided in the Agreement, 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 professional 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

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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.

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. Professional Ability of Contractor. City has relied upon the professional 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 professional and technical 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 professionals 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

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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 to any 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.

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 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. 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.

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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.
iv. Professional Liability Coverage. Contractor shall maintain professional errors and omissions liability insurance appropriate for Contractor’s profession for protection against claims alleging negligent acts, errors or omissions which may arise from Contractor’s services under this Agreement, whether such services are provided by the Contractor or by its employees, subcontractors, or sub consultants. The amount of this insurance shall not be less than one million dollars ($1,000,000) on a claims-made annual aggregate basis, or a combined single limit per occurrence basis. 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.
ii. This policy shall be considered primary insurance as respects the City, 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.

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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: GeoTechnical Engineering Services
Attn: Allen D. Evans
1310 South Santa Fe Ave. PO Box 937
San Jacinto, CA 92581

18. Assignment and Subcontracting. The parties recognize that a substantial inducement to City for entering into this Agreement is the professional reputation, experience and competence of Contractor and the subcontractors listed in Exhibit B. 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 except as provided in Exhibit B 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.

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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 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 non-payment of prevailing wages under California law, and Contractor hereby agrees to defend, 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

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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) nonmonetary 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. [Signatures on next page]

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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
City Manager
ATTEST:

City Clerk
APPROVED AS TO FORM:

City Attorney
Assistant City Manager
“CONTRACTOR”
Inland Foundation Engineering, Inc., a
California corporation
By: Allen D. Evans, P.E., G.E
Its: Principal
Attachments: Exhibit A – Contractor’s Proposal
Exhibit B – List of Subcontractors

EXHIBIT A

EXHIBIT A
CONTRACTOR’S PROPOSAL
[ATTACHED]

EXHIBIT B

LIST OF SUBCONTRACTORS
[ATTACHED]
IFE Inland Foundation Engineering, Inc.
inlandfoundation.com
1310 South Santa Fe Ave. PO Box 937 San Jacinto, CA 92581 ꓲ (951) 654-1555 77622 Country Club Dr. Suite Q, Palm Desert, CA 92211 ꓲ (760) 200-2400 March 1, 2024
City of Lake Elsinore
130 S. Main Street
Lake Elsinore, California 92530
Attention: Gus Papagolos

Subject: Proposal for Geotechnical Investigation
Proposed Library
Located South of W Summer Ave and West of North Main Street City of Lake Elsinore, California
Dear Mr. Papagolos:

Inland Foundation Engineering, Inc. (IFE) is pleased to submit this proposal to perform a geotechnical investigation for the subject project. This proposal has been prepared based on your email request and our experience with similar projects.

PROJECT UNDERSTANDING
We understand that the proposed project area will consist of four undeveloped parcels of land, totaling approximately one acre, to be developed as a library. Based on the emailed information, the proposed library will consist of a single story structure with an area of approximately 10,000 square feet. We anticipate that the project will also include landscaping, and asphalt concrete parking areas with interior drive aisles.

For the purposes of this proposal, we assume that the proposed building will be supported with conventional spread footings and slab-on-grade floor.

The purpose of this study is to evaluate the nature, distribution, and engineering properties of the geologic strata underlying the site with respect to the proposed development and to provide geotechnical recommendations as necessary. The location of the site is shown on the figure below.
_______________________________________
Proposal – Geotechnical Investigation
Lake Elsinore Library, February 2024 2 of 6 Inland Foundation Engineering, Inc.

Figure 1. USGS Lake Elsinore 7.5’ Quadrangle and Aerial Image

ANTICIPATED SUBSURFACE CONDITIONS
According to the USGS Preliminary Geologic Map of the Lake Elsinore 7.5’ Quadrangle (Morton and Weber 2003) the site is underlain by younger (Holocene) alluvial fan deposits described as unconsolidated gravel, sand and silt (map symbol Qyf).

Following is a portion of the referenced geologic map showing the mapped geologic units in the vicinity of the project location.

Figure 2. USGS Lake Elsinore 7.5’ Quadrangle (Morton and Weber 2003) Young alluvial-fan deposits, Unit 1 (early Holocene)

SUBJECT SITE

SUBJECT SITE
_______________________________________
Proposal – Geotechnical Investigation
Lake Elsinore Library, February 2024 3 of 6 Inland Foundation Engineering, Inc.

Based on the Riverside County GIS hazard maps, the project site is located in a mapped “Very High” liquefaction potential zone and a “Susceptible” subsidence area.

The figure below depicts the project location on the liquefaction hazard map.

Figure 3. Riverside County GIS Liquefaction Hazard Map

PROJECT APPROACH AND PROPOSED SCOPE OF SERVICE
Our firm has conducted a significant amount of geotechnical exploration within the proposed project area. These projects include the Lake Elsinore City Hall Addition, located approximately 1,200 feet to the south, as well as several other geotechnical investigations in the nearby site vicinity. Based on our geotechnical knowledge of the site vicinity we have prepared the following scope of work outlined below.

GEOLOGIC LITERATURE REVIEW – We will review pertinent geologic literature in our files and as available from public agencies, including groundwater records, liquefaction hazard maps, and earthquake fault maps. The review will also include review of historical aerial photographs and a site reconnaissance to document and map current surface conditions.

SUBSURFACE EXPLORATION – We propose to drill four (4) geotechnical borings at this site utilizing a truck mounted hollow-stem auger drill rig to evaluate the underlying geologic conditions. Borings at the site will be drilled to target depths ranging from 15 to 50 feet below ground surface, or to practical refusal, whichever occurs first. Prior to exploration, we will mark proposed boring locations and contact Underground Service _______________________________________
Proposal – Geotechnical Investigation
Lake Elsinore Library, February 2024 4 of 6 Inland Foundation Engineering, Inc.

Alert to mark known utilities. City personnel should also identify locations of all known underground utilities, sprinklers, etc.

A staff geologist will log the materials encountered during drilling. Representative relatively undisturbed samples will be obtained within the borings by driving a thin-walled steel penetration sampler with successive 30-inch drops of a 140-pound hammer. The number of blows required to achieve each six inches of penetration will be recorded on the boring logs. The sampler types to be used include a Californiamodified sampler with brass sample rings and a Standard Penetration Test sampler (SPT). Representative relatively undisturbed drive samples and bulk samples will be transported to our laboratory for further observations and testing. The borings will be backfilled with native soil cuttings. It is assumed that excess soil cuttings may be spread on the site.

LABORATORY TESTING – We anticipate that laboratory testing will include, but may not necessarily be limited to:
▪ Unit Weight ▪ Plastic Index
▪ Moisture Content ▪ Direct Shear Strength
▪ Sieve Analysis
▪ Consolidation
▪ R-value
▪ Corrosivity
▪ Expansion Index
▪ Maximum Density and Optimum
Moisture Content
ENGINEERING ANALYSIS AND REPORT PREPARATION – On the basis of the subsurface exploration and laboratory testing, we will develop preliminary conclusions and engineering recommendations for the design and construction of the proposed library.

These conclusions and recommendations will be presented in a formal report, which will also include field and laboratory test data. The report will address the following:
▪ Allowable bearing pressure
▪ Active, passive and at-rest earth pressure
▪ Coefficient of friction
▪ 2022 California Building Code (CBC) seismic design parameters (default) ▪ Liquefaction hazard analysis
▪ Groundwater
▪ Expansive soil
▪ Collapsible soil
▪ Concrete slabs-on-grade and flatwork
▪ Asphalt concrete pavement
▪ Corrosion (pH, chlorides, resistivity and sulfates)
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Proposal – Geotechnical Investigation
Lake Elsinore Library, February 2024 5 of 6 Inland Foundation Engineering, Inc. ▪ General site grading and earthwork
o Over-excavation
o Fill placement and compaction
o Temporary excavations and shoring
The report will include exploratory boring logs, laboratory test results, and a site plan showing the boring locations.

PROPOSED FEE
Our services will be invoiced on a time and materials basis per our current standard fee schedule rates. Based on the scope of service recommended above and assumptions made, our estimated fee for the geotechnical investigation is $18,000.

LIMITATIONS
Our services will be performed in accordance with the standard of practice exercised by other geotechnical engineers practicing in the same geographic area. No warranty, express or implied, is made.

If additional permitting or unanticipated field conditions are encountered that require a significant modification to the recommended scope of service or that require a substantial increase to the estimated fee, we will not proceed with the modified scope or increased amount without obtaining your written authorization. The proposed scope of services does not include the evaluation or identification of the potential presence of hazardous materials on the site.

We will contact Underground Service Alert (USA) to delineate public utilities within the sites prior to performing drilling operations; however, we will not be responsible for damage to any subsurface lines, structures, vegetation, or other sensitive sites that are not accurately marked by USA or shown accurately on plans provided to us or shown to us prior to our field exploration.

The Client is responsible for arranging access to the site to perform the field exploration.

Some disturbance to the ground surface may occur as a result of the subsurface exploration. Although we will be careful to limit the extent of such occurrences, they cannot be avoided and this proposal does not include any costs to re-grade, revegetate, landscape or otherwise repair disturbed areas. _______________________________________
Proposal – Geotechnical Investigation
Lake Elsinore Library, February 2024 6 of 6 Inland Foundation Engineering, Inc.

AGREEMENT AND AUTHORIZATION
To authorize our services, please sign the attached Agreement for Professional Services and return to our office. A fully executed copy of the agreement will be returned to you.

We appreciate the opportunity to submit this proposal and look forward to working with you on this project. If you have any questions concerning this proposal, please contact our office.

Respectfully,
INLAND FOUNDATION ENGINEERING, INC.

Allen D. Evans, P.E., G.E.

Principal
Christopher Hogan Rangel, PG
Project Geologist
IFE Inland Foundation Engineering, Inc.
inlandfoundation.com
1310 South Santa Fe Ave. PO Box 937 San Jacinto, CA 92581 ꓲ (951) 654-1555 77622 Country Club Dr. Suite Q, Palm Desert, CA 92211 ꓲ (760) 200-2400

AGREEMENT FOR GEOTECHNICAL ENGINEERING SERVICES
THIS AGREEMENT, effective as of this ___1___ day of March 2024 is by and between City of Lake Elsinore (“Client”) and Inland Foundation Engineering, Inc. (“Consultant”).

Client’s Name City of Lake Elsinore Office
Mailing Address 130 S. Main Street Direct
Lake Elsinore, California 92530 E-mail [email protected] Project No.

Attention Gus Papagolos
Billing Address
Work Description Geotechnical Investigation
Project Proposed Library
Location South of W Summer Ave and West of North Main Street, Lake Elsinore, Ca Legal Description of Property
Assessor Parcel No.

Present Record Owner
Owner’s Mailing Address
Contractor’s Name
IFE Inland Foundation Engineering, Inc.
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Agreement – Geotechnical Services
City of Lake Elsinore, March 2024 2 of 9 Inland Foundation Engineering, Inc.

THIS AGREEMENT consists of the following documents which are incorporated herein by reference:
• General Conditions for Geotechnical Engineering Services; and • Any documents specifically listed below or incorporated by reference in the listed documents (Exhibit A).

Consultant agrees to perform the Services set forth in this Agreement and in accordance with its terms, including all attachments incorporated herein by reference. This Agreement may not be modified or altered, except in writing as specifically described in this Agreement.

CLIENT CONSULTANT REPRESENTATIVE
Signature
Print Name Gus Papagolos Allen D. Evans, P.E.

Title R.C.E. 38104/G.E. 2060
Company City of Lake Elsinore Inland Foundation Engineering, Inc.

Address 130 S. Main Street P.O. Box 937
Lake Elsinore, California 92530 San Jacinto, California 92581-0937 Date
IFE Inland Foundation Engineering, Inc.
_______________________________
Agreement – Geotechnical Services
City of Lake Elsinore, March 2024 3 of 9 Inland Foundation Engineering, Inc.

GENERAL CONDITIONS FOR

GEOTECHNICAL ENGINEERING SERVICES

1. DEFINITIONS

1.1. Agreement. This contract, including all appendixes, addenda, and any documents incorporated by reference.

1.2. Any Claim. This term, when used in a provision indicating client’s obligation to waive claims against consultant or to hold consultant harmless from any claim arising from certain specified events, means “any claim in contract, tort, or statute alleging negligence, errors, omissions, strict liability, statutory liability, breach of contract, negligent misrepresentation, or other acts giving rise to liability”.

1.3. Certify, Certification. Wherever these or derivative words are used in the agreement, or in any document developed or arising out of this agreement or services furnished by consultant thereunder, they shall mean consultant’s furnishing an opinion of conditions based upon testing, analysis, or observation consultant has performed. Consultant’s certification of a condition’s existence does not guarantee such condition exists, nor does it relieve other party of responsibilities or obligations such party has accepted by contract or custom.

1.4. Consultant. The firm of Inland Foundation Engineering, Inc., including it affiliates, agents, and all principals, officers, and employees thereof, and their heirs and assigns.

1.5. Contract Documents. Plans, specifications, and agreements between Client and Contractors, including addenda, amendments, supplementary instructions, and change orders.

1.6. Contractor. The contractor or contractors retained to construct the Project for which Consultant is providing Services under this Agreement.

1.7. Day(s). Calendar day(s) unless otherwise stated.

1.8. Hazardous Materials. The term Hazardous Materials means any toxic substances, chemicals, radioactivity, pollutants or other materials, in whatever form or state, known or suspected to impair or jeopardize human health and safety or the environment in any way whatsoever. Hazardous Materials include, but are not limited to, those substances defined, designated or listed in any federal, state or local law, regulation or ordinance concerning hazardous wastes, toxic substances or pollution.

1.9. He, Him, His. A reference to a person or business entity with no gender intended. As appropriate, based on who is involved, “he” implies he (male), she (female), or it (other than a human being), etc.

1.10. Services. The Services provided by Consultant as set forth in this Agreement, the SCOPE OF SERVICES and any written amendment to this Agreement.

2. SCOPE OF SERVICES
Consultant’s included Services are set forth in the attached SCOPE OF SERVICES.

2.1. Changes in Scope. If Consultant provides Client with a writing confirming a change in the SCOPE OF SERVICES, it will become an amendment to this Agreement unless Client objects in writing within 5 business days after receipt. All Services performed by Consultant on the Project are subject to the terms and limitations of this Agreement. If Services are performed, but the parties do not reach agreement concerning modifications to the SCOPE OF SERVICES or compensation, then the terms and limitations of this Agreement apply to such Services, except for the payment terms. The parties agree to resolve disputes concerning modifications to scope or compensation pursuant to Section 19, “Disputes.”

2.2. Licenses. Consultant will procure and maintain business and professional licenses and registrations necessary to provide its Services.

2.3. Excluded Services. Consultant’s Services under this Agreement include only those Services specified in the SCOPE OF SERVICES.

2.3.1. General. Client expressly waives any claim against Consultant resulting from its failure to perform recommended additional Services that Client has not authorized Consultant to perform, and any claim that Consultant failed to perform services that Client instructs Consultant not to perform.

2.3.2. Biological Pollutants. Consultant’s SCOPE OF SERVICES specifically excludes the investigation, detection, prevention or assessment of the presence of Biological Pollutants. The term “Biological Pollutants” includes, but is not limited to, molds, fungi, spores, bacteria, viruses, and/or any of their byproducts. Consultant’s SCOPE OF SERVICES will not include any interpretations, recommendations, findings, or conclusions pertaining to Biological Pollutants. Client agrees that Consultant has no liability for any claims alleging a failure to investigate, detect, prevent, assess, or make recommendations for preventing, controlling, or abating Biological Pollutants.

Furthermore, Client agrees to defend, indemnify, and hold harmless Consultant from all claims by any third party concerning Biological Pollutants, except for damages caused by Consultant’s sole negligence.

3. PAYMENTS TO CONSULTANT

3.1. Basic Services. Consultant’s Services are set forth in the attached SCOPE OF SERVICES AND SCHEDULE OF CHARGES for the amount(s) set forth therein.

IFE Inland Foundation Engineering, Inc.
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Agreement – Geotechnical Services
City of Lake Elsinore, March 2024 4 of 9 Inland Foundation Engineering, Inc.

3.2. Additional Services. Services performed under this Agreement, except those Services expressly identified in the attached SCOPE OF SERVICES, will be provided on a time and materials basis unless otherwise specifically agreed to in writing by both parties.

3.3. Estimate of Fees. Consultant will, to the best of its ability, perform the Services and accomplish the objectives defined in this Agreement within any written cost estimate provided by Consultant. Client recognizes that changes in scope and schedule, and unforeseen circumstances can all influence the successful completion of Services within the estimated cost. The use of an estimate of fees or of a “not to exceed” limitation is not a guarantee that the Services will be completed for that amount; rather, it indicates that Consultant shall not incur fees and expenses in excess of the estimate or limitation amount without obtaining Client’s agreement to do so.

3.4. Rates. Client will pay Consultant at the rates set forth in the SCHEDULE OF CHARGES.

3.4.1. Changes to Rates. Client and Consultant agree that the SCHEDULE OF CHARGES is subject to periodic review and amendment, as appropriate to reflect Consultant’s then-current fee structure. Consultant will give Client at least 30 days advance notice of any changes. Unless Client objects in writing to the proposed amended fee structure within 30 days of notification, the amended fee structure will be incorporated into this Agreement and will then supersede any prior fee structure. If Client timely objects to the amended fee structure, and Consultant and Client cannot agree upon a new fee structure within 30 days after notice, Consultant may terminate this Agreement and be compensated as set forth under Section 18, “Termination.”

3.4.2. Prevailing Wages. Unless Client specifically informs Consultant in writing that prevailing wage regulations cover the Project and the SCOPE OF SERVICES identifies it as covered by such regulations, Client will reimburse, defend, indemnify and hold harmless Consultant from and against any liability resulting from a subsequent determination that prevailing wage regulations cover the Project, including all costs, fines and attorneys’ fees.

3.5. Payment Timing; Late Charge. All invoices are due upon receipt. All amounts unpaid 30 days after the invoice date will include a late payment charge from the date of the invoice, at the rate of 1-1/2% per month or the highest rate permitted by law.

4. STANDARD OF PERFORMANCE; DISCLAIMER OF WARRANTIES

4.1. Level of Service. Consultant offers different levels of geotechnical Consulting Services to suit the desires and needs of different clients. Although the possibility of error can never be eliminated, more detailed and extensive Services yield more information and reduce the probability of error, but at increased cost. Client must determine the level of Services adequate for its purposes. Client has reviewed the SCOPE OF SERVICES and has determined that it does not need or want a greater level of Services than that being provided.

4.2. Standard of Care. Subject to the limitations inherent in the agreed SCOPE OF SERVICES as to the degree of care, the amount of time and expenses to be incurred, and subject to any other limitations contained in this Agreement, Consultant may perform its Services consistent with that level of care and skill ordinarily exercised by other professional Consultants practicing in the same locale and under similar circumstances at the time the Services are performed.

4.3. No Warranty. No warranty, express or implied, is included or intended by this Agreement.

5. ESTIMATE OF CONSTRUCTION COSTS
Client acknowledges that construction and Project development are subject to many influences that are not subject to precise forecasting and are outside of Consultant’s control. Client further acknowledges that actual costs incurred may vary substantially from the estimates prepared by Consultant and that Consultant does not warrant or guaranty the accuracy of construction or development cost estimates.

6. CONSTRUCTION PHASE SERVICES
If Consultant’s SCOPE OF SERVICES includes observation and/or testing during the course of construction, Consultant may:

6.1. Construction Observation.

6.1.1. Site Meetings & Observations. Consultant will strive to participate in job site meetings as requested by Client, and, unless otherwise requested by Client, conduct observations at the site at times specified in the SCOPE OF SERVICES or, if not specified in the SCOPE OF SERVICES, at intervals as Consultant deems appropriate to the various stages of construction to observe the geotechnical conditions encountered by Contractor and the progress and quality of the geotechnical aspects of the Services. Based on information obtained during such visits and on such observations, Consultant may inform Client of the progress of the geotechnical aspects of the Services. Client understands that Consultant may not be on site continuously; and, unless expressly agreed otherwise, Consultant will not observe all of the Services. Observation and presence, whether full-time or intermittently, does not confer “stop work” authority on those performing the service. Also, given the inherent limitations of such inspections, they shall not be relied upon by any other party as acceptance of the work, nor shall they relieve any other party from fulfillment of its customary and contractual responsibilities and obligations.

6.1.2. Contractor’s Performance. Consultant does not, and cannot, warrant or guarantee that all of the geotechnical Services performed by Contractor meets the requirements of Consultant’s geotechnical recommendations or the plans and specifications for such geotechnical Services; nor can Consultant be responsible for Contractor’s failure to perform the Services in accordance with the plans, specifications or the recommendations of Consultant.

IFE Inland Foundation Engineering, Inc.
_______________________________
Agreement – Geotechnical Services
City of Lake Elsinore, March 2024 5 of 9 Inland Foundation Engineering, Inc.

6.1.3. Contractor’s Responsibilities. Consultant will not supervise, direct or have control over the Services nor will Consultant have authority over or responsibility for the means, methods, techniques, sequences or procedures of construction selected by Contractor for the geotechnical aspects of the Project; for safety precautions and programs incident to the Services; nor for any failure of Contractor to comply with Laws and Regulations applicable to Contractor furnishing and performing its Services.

6.1.4. Final Report. At the conclusion of Construction Phase Services, Consultant will provide Client with a written report summarizing the tests and observations, if any, made by Consultant.

6.2. Review of Contractor’s Submittals. If included in the SCOPE OF SERVICES, Consultant will review and take appropriate action on the Contractor’s submittals, such as shop drawings, product data, samples, and other required submittals. Consultant will review such submittals solely for general conformance with Consultant’s design, and will not include review for the following, all of which will remain the responsibility of the Contractor: accuracy or completeness of details, quantities or dimensions; construction means, methods, sequences or procedures; coordination among trades; or construction safety.

6.3. Tests. Tests performed by Consultant on finished Services or Services in progress are taken intermittently and indicate the general acceptability of the Services on a statistical basis. Consultant’s tests and observations of the Services are not a guarantee of the quality of Services and do not relieve other parties from their responsibility to perform their Services in accordance with applicable plans, specifications and requirements.

7. CLIENT’S RESPONSIBILITIES
In addition to payment for the Services performed under this Agreement, Client agrees to:

7.1. Cooperation. Assist and cooperate with Consultant in any manner necessary and within its ability to facilitate Consultant’s performance under this Agreement.

7.2. Representative. Designate a representative with authority to receive all notices and information pertaining to this Agreement, communicate Client’s policies and decisions, and assist as necessary in matters pertaining to the Project and this Agreement. Client’s representative will be subject to change by written notice.

7.3. Rights of Entry. Provide access to and/or obtain permission for Consultant to enter upon all property, whether or not owned by Client, as required to perform and complete the Services. Consultant will operate with reasonable care to minimize damage to the Project Site(s). However, Client recognizes that Consultant’s operations and the use of investigative equipment may unavoidably alter conditions or affect the environment at the existing Project Site(s). The cost of repairing such damage will be borne by Client and is not included in the fee unless otherwise stated.

7.4. Relevant Information. Supply Consultant with all information and documents in Client’s possession or knowledge which are relevant to Consultant’s Services. Client warrants the accuracy of any information supplied by it to Consultant, and acknowledges that Consultant is entitled to rely upon such information without verifying its accuracy. Prior to the commencement of any Services in connection with a specific property, Client will notify Consultant of any known potential or possible health or safety hazard existing on or near the Project Site, with particular reference to Hazardous Materials or conditions.

7.5. Subsurface Structures. Correctly designate on plans to be furnished to Consultant, the location of all subsurface structures, such as pipes, tanks, cables and utilities within the property lines of the Project Site(s), and be responsible for any damage inadvertently caused by Consultant to any such structure or utility not so designated. Consultant is not liable to Client for any losses, damages or claims arising from damage to subterranean structures or utilities that were not correctly shown on plans furnished by Client to Consultant.

8. CHANGED CONDITIONS
If Consultant discovers conditions or circumstances that it had not contemplated at the commencement of this Agreement (“Changed Conditions”), Consultant will notify Client of the Changed Conditions. Client and Consultant agree to that they will then renegotiate in good faith the terms and conditions of this Agreement. If Consultant and Client cannot agree upon amended terms and conditions within 30 days after notice, Consultant may terminate this Agreement and be compensated as set forth in Section 18, “Termination.”

9. HAZARDOUS MATERIALS
Client understands that Consultant’s Services under this Agreement are limited to geotechnical engineering and that Consultant has no responsibility to locate, identify, evaluate, treat or otherwise consider or deal with Hazardous Materials. Client is solely responsible for notifying all appropriate federal, state, municipal or other governmental agencies, including the potentially affected public, of the existence of any Hazardous Materials located on or in the Project site, or located during the performance of this Agreement. The existence or discovery of Hazardous Materials constitutes a Changed Condition under this Agreement.

10. CERTIFICATIONS
Client agrees not to require that Consultant execute any certification with regard to Services performed or Services tested and/or observed under this Agreement unless: 1) Consultant believes that it has performed sufficient Services to provide a sufficient basis to issue the certification; 2) Consultant believes that the Services performed or Services tested and/or observed meet the criteria of the IFE Inland Foundation Engineering, Inc.
_______________________________
Agreement – Geotechnical Services
City of Lake Elsinore, March 2024 6 of 9 Inland Foundation Engineering, Inc. certification; and 3) Consultant has reviewed and approved in writing the exact form of such certification prior to execution of this Agreement. Any certification by Consultant is limited to an expression of professional opinion based upon the Services performed by Consultant, and does not constitute a warranty or guaranty, either expressed or implied.

11. ALLOCATION OF RISK

11.1. Limitation of Liability. The total cumulative liability of Consultant, its subconsultants and subcontractors, and all of their respective shareholders, directors, officers, employees and agents (collectively “Consultant Entities”), to Client arising from Services under this Agreement, including attorney’s fees due under this Agreement, will not exceed the gross compensation received by Consultant under this Agreement or $50,000, whichever is greater; provided, however, that such liability is further limited as described below. This limitation applies to all lawsuits, claims or actions that allege errors or omissions in Consultant’s Services, whether alleged to arise in tort, contract, warranty, or other legal theory. Upon Client’s written request, Consultant and Client may agree to increase the limitation to a greater amount in exchange for a negotiated increase in Consultant’s fee, provided that they amend this Agreement in writing as provided in Section 20.

11.2. Indemnification.

11.2.1. Indemnification of Client. Subject to the provisions and limitations of this Agreement, and to the extent of Consultant’s insurance protection, Consultant agrees to indemnify, but not defend, and hold harmless Client, its shareholders, officers, directors, employees, and agents from and against any and all claims, suits, liabilities, damages, expenses (including reasonable attorney’s fees), or other losses (collectively “Losses”) to the extent caused by Consultant’s negligent performance, whether it be sole or in concert with others, of its Services under this Agreement.

11.2.2. Indemnification of Consultant. Client will indemnify and hold harmless Consultant Entities from and against any and all Losses to the extent caused by the negligence of Client, its employees, agents and contractors. In addition, except to the extent caused by Consultant’s sole negligence, Client expressly agrees to defend, indemnify and hold harmless Consultant Entities from and against any and all Losses arising from or related to the existence, disposal, release, discharge, treatment or transportation of Hazardous Materials, or the exposure of any person to Hazardous Materials, or the degradation of the environment due to the presence, discharge, disposal, release of or exposure to Hazardous Material.

11.3. Consequential Damages. Neither Client nor Consultant will be liable to the other for any special, consequential, incidental or penal losses or damages including but not limited to losses, damages or claims related to the unavailability of property or facilities, shutdowns or service interruptions, loss of use, profits, revenue, or inventory, or for use charges, cost of capital, or claims of the other party and/or its customers.

11.4. Continuing Agreement. The indemnity obligations and the limitations of liability established under this Agreement will survive the expiration or termination of this Agreement. If Consultant provides Services to Client that the parties do not confirm through execution of an amendment to this Agreement, the obligations of the parties to indemnify each other and the limitations on liability established under this Agreement apply to such Services as if the parties had executed an amendment.

12. CORPORATE PROTECTION
It is intended by the parties to this Agreement that the Consultant’s (Inland Foundation Engineering, Inc.) services in connection with the project shall not subject the Consultant’s affiliates, agents, principals, officers, individual employees thereof, and their heirs and assigns to any personal legal exposure for the risks associated with this project. Therefore, and notwithstanding anything to the contrary contained herein, the Client agrees that as the Client’s sole and exclusive remedy, any claim, demand or suit shall be directed and/or asserted only against the Consultant (Inland Foundation Engineering, Inc.), a California Corporation, and not against any of the Consultant’s employees, officers or directors.

13. THIRD PARTY BENEFICIARIES
Nothing contained in this Agreement shall create a contractual relationship with or a cause of action in favor of a third party against either the Client or the Consultant. The Consultant’s services under this Agreement are being performed solely for the Client’s benefit, and no other entity shall have any claim against the Consultant because of this Agreement or the performance or nonperformance of services hereunder.

14. INSURANCE

14.1. Consultant’s Insurance. Consultant will obtain, if reasonably available, the following coverages:

14.1.1. Statutory Workers’ Compensation/Employer’s Liability Insurance;

14.1.2. Commercial General Liability Insurance with a combined single limit of $1,000,000;

14.1.3. Automobile Liability Insurance, including liability for all owned, hired and non-owned vehicles with minimum limits of $1,000,000 for bodily injury per person, $1,000,000 property damage, and $1,000,000 combined single limit per occurrence; and,

14.1.4. Professional Liability Insurance in amounts of $1,000,000 per claim and annual aggregate.

IFE Inland Foundation Engineering, Inc.
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Agreement – Geotechnical Services
City of Lake Elsinore, March 2024 7 of 9 Inland Foundation Engineering, Inc.

14.2. Certificates of Insurance. Upon request, Consultant and Client will each provide the other with certificate(s) of insurance evidencing the existence of the policies required herein.

15. OWNERSHIP AND USE OF DOCUMENTS

15.1. Client Documents. All documents provided by Client will remain the property of Client. Consultant will return all such documents to Client upon request, but may retain file copies of such documents.

15.2. Consultant’s Documents. Unless otherwise agreed in writing, all documents and information prepared by Consultant or obtained by Consultant from any third party in connection with the performance of Services, including, but not limited to, Consultant’s reports, boring logs, maps, field data, field notes, drawings and specifications, laboratory test data and other similar documents (collectively “Documents”) are the property of Consultant. Consultant has the right, in its sole discretion, to dispose of or retain the Documents.

15.3. Use of Documents. All Documents prepared by Consultant are solely for use by Client and will not be provided by either party to any other person or entity without Consultant’s prior written consent.

15.3.1. Use by Client. Client has the right to reuse the Documents for purposes reasonably connected with the Project for which the Services are provided, including without limitation design and licensing requirements of the Project.

15.3.2. Use by Consultant. Consultant retains the right of ownership with respect to any patentable concepts or copyrightable materials arising from its Services and the right to use the Documents for any purpose.

15.4. Electronic Media. Consultant may agree at Client’s request to provide Documents and information in an electronic format.

Client recognizes that Documents or other information recorded on or transmitted as electronic media are subject to undetectable alteration due to (among other causes) transmission, conversion, media degradation, software error, or human alteration. Accordingly, all Documents and information provided by Consultant in electronic media are for informational purposes only and not as final documentation. Unless otherwise defined in the Scope of Services, Consultant’s electronic Documents and media will conform to Consultant’s standards. Consultant will provide any requested electronic Documents for a 30-day acceptance period, and Consultant will correct any defects reported by Client to Consultant during this period. Consultant makes no warranties, either express or implied, regarding the fitness or suitability of any electronic Documents or media.

15.5. Unauthorized Reuse. No party other than Client may rely, and Client will not represent to any other party that it may rely on Documents without Consultant’s express prior written consent and receipt of additional compensation. Client will not permit disclosure, mention, or communication of, or reference to the Documents in any offering circular, securities offering, loan application, real estate sales documentation, or similar promotional material without Consultant’s express prior written consent. Client waives any and all claims against Consultant resulting in any way from the unauthorized reuse or alteration of Documents by itself or anyone obtaining them through Client. Client will defend, indemnify and hold harmless Consultant from and against any claim, action or proceeding brought by any party claiming to rely upon information or opinions contained Documents provided to such person or entity, published, disclosed or referred to without Consultant’s prior written consent.

15.6 Confidentiality. Consultant and Client each acknowledge that during the term of this agreement either may receive or have access to certain information, observations and data (including, but not limited to, trade secrets, designs, ideas, products, research, software, and financial data) concerning the business or affairs of the other party (“Confidential Information”). Consultant and Client shall take all reasonably appropriate steps to safeguard Confidential Information and to protect it against disclosure, misuse, espionage, loss and theft. Consultant and Client agree that they shall not disclose to any unauthorized person or use for their own purposes any Confidential Information without the prior written consent of the other party, unless and to the extent that the Confidential Information becomes generally known to and available for use by the public.

16. SAMPLES AND CUTTINGS

16.1. Sample Retention. If Consultant provides laboratory testing or analytic Services, Consultant will attempt to preserve such soil, rock, water, or other samples as it deems necessary for the Project, but no longer than 30 days after issuance of any Documents that include the data obtained from these samples. Client will promptly pay and be responsible for the removal and lawful disposal of all contaminated samples, cuttings, Hazardous Materials, and other hazardous substances.

16.2. Monitoring Wells. Client will take custody of all monitoring wells and probes installed during any investigation by Consultant, and will take any and all necessary steps for the proper maintenance, repair or closure of such wells or probes at Client’s expense.

17. RELATIONSHIP OF THE PARTIES
Consultant will perform Services under this Agreement as an independent contractor.

18. ASSIGNMENT AND SUBCONTRACTS
Neither party may assign this Agreement, in whole or in part, without the prior written consent of the other party, except for an assignment of proceeds for financing purposes. Consultant may subcontract for the services of others without obtaining Client’s consent if Consultant deems it necessary or desirable for others to perform certain Services.

IFE Inland Foundation Engineering, Inc.
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Agreement – Geotechnical Services
City of Lake Elsinore, March 2024 8 of 9 Inland Foundation Engineering, Inc.

19. SUSPENSION AND DELAYS

19.1. Procedures. Client may, at any time by 10 days written notice suspend performance of all or any part of the Services by Consultant. Consultant may terminate this Agreement if Client suspends Consultant’s Services for more than 60 days and Client will pay Consultant as set forth under Section 18, “Termination.” If Client suspends Consultant’s Services, or if Client or others delay Consultant’s Services, Client and Consultant agree to equitably adjust: (1) the time for completion of the Services; and (2) Consultant’s compensation in accordance with Consultant’s then current SCHEDULE OF CHARGES for the additional labor, equipment, and other charges associated with maintaining its workforce for Client’s benefit during the delay or suspension, or charges incurred by Consultant for demobilization and subsequent remobilization.

19.2. Liability. Consultant is not liable to Client for any failure to perform or delay in performance due to circumstances beyond Consultant’s control, including but not limited to pollution, contamination, or release of hazardous substances, strikes, lockouts, riots, wars, fires, flood, explosion, “acts of God,” adverse weather conditions, acts of government, labor disputes, delays in transportation or inability to obtain material and equipment in the open market.

20. TERMINATION

20.1. Termination for Convenience. Consultant and Client may terminate this Agreement for convenience upon 30 days written notice delivered or mailed to the other party.

20.2. Termination for Cause. In the event of material breach of this Agreement, the party not breaching the Agreement may terminate it upon 10 days written notice delivered or mailed to the other party. The termination notice shall state the basis for the termination. The Agreement may not be terminated for cause if the breaching party cures the breach within the 10-day period.

20.3. Payment on Termination. Following termination other than for Consultant’s material breach of this Agreement, Client will pay Consultant for Services performed prior to the termination notice date, and for any necessary Services and expenses incurred in connection with the termination of the Project, including but not limited to, the costs of completing analysis, records and reports necessary to document job status at the time of termination and costs associated with termination of subcontractor contracts in accordance with Consultant’s then current SCHEDULE OF CHARGES.

21. DISPUTES

21.1. Mediation. All disputes between Consultant and Client are subject to mediation. Either party may demand mediation by serving a written notice stating the essential nature of the dispute, amount of time or money claimed, and requiring that the matter be mediated within 45 days of service of notice.

21.2. Precondition to Other Action. No action or suit may be commenced unless the mediation did not occur within 45 days after service of notice; or the mediation occurred but did not resolve the dispute; or a statute of limitation would elapse if suit was not filed prior to 45 days after service of notice.

21.3. Choice of Law; Venue. This Agreement will be construed in accordance with and governed by the laws of the state in which the Project is located. Unless the parties agree otherwise, any mediation or other legal proceeding will occur in the state in which the Project is located.

21.4. Statutes of Limitations. Any applicable statute of limitations will be deemed to commence running on the earlier of the date of substantial completion of Consultant’s Services under this Agreement or the date on which claimant knew, or should have known, of facts giving rise to its claims.

22. MISCELLANEOUS

22.1. Integration and Severability. This Agreement reflects the entire agreement of the parties with respect to its terms and supersedes all prior agreements, whether written or oral. If any portion of this Agreement is void or voidable, such portion will be deemed stricken and the Agreement reformed to as closely approximate the stricken portions as the law allows.

22.2. Modification of this Agreement. This Agreement may not be modified or altered, except by a written agreement signed by authorized representatives of both parties and referring specifically to this Agreement.

22.3. Notices. Any and all notices, requests, instructions, or other communications given by either party to the other must be in writing and either hand delivered to the recipient or delivered by first-class mail (postage prepaid) or express mail (billed to sender) at the addresses given in this Agreement.

22.4. Headings. The headings used in this Agreement are for convenience only and are not a part of this Agreement.

22.5. Waiver. The waiver of any term, conditions or breach of this Agreement will not operate as a subsequent waiver of the same term, condition, or breach.

IFE Inland Foundation Engineering, Inc.
_______________________________
Agreement – Geotechnical Services
City of Lake Elsinore, March 2024 9 of 9 Inland Foundation Engineering, Inc.

EXHIBIT A: CONSULTANT’S

SCOPE OF SERVICES AND SCHEDULE OF CHARGES
Consultant’s Proposal or other description of (1) Scope of Services, and (2) Schedule of Charges for the Services covered by this Agreement is listed below.

Services Rendered: Geotechnical Investigation Proposed Library, South of W Summer Ave and West of North Main Street, Lake Elsinore, California
Estimated Fee: $18,000
Deposit:

Note: Proposal dated March 1, 2024

9) Professional Services Agreement with Engineering Resources of Southern California, Inc. (ERSC) for the Civil Engineering Services of the City Park Parking Lot Project (CIP Project Z40037)
Approve and authorize the City Manager to execute a Professional Services Agreement with Engineering Resources of Southern California, Inc. (ERSC) for Civil Engineering Services of the City Park Parking Lot Project (CIP Project Z40037) in an amount not to exceed $97,760.00 as approved by the City Attorney and authorize the City Manager to execute change orders not to exceed a 10% contingency of $9,776.00 for unanticipated costs.

Page 1 of 3 ends

Lake Elsinore City CouncilMarch 12, 2024

Lake Elsinore City Council
March 12, 2024