Agenda, second session — Lynwood City Council, June 21, 2022 (part 3 of 3)

Lynwood Lighting District Page 163 of 163 City Council Regular Meeting - Page 626 of 788 1 RESOLUTION NO. - _____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPROVING THE ENGINEER’S REPORT PREPARED PURSUANT TO CALIFORNIA STREETS AND HIGHWAYS CODE SECTION 22565 ET SEQ., AS ORDER ED BY THE CITY COUNCIL ON JUNE 21, 202 2, RELATING TO TH E LYNWOOD LIGHTING

ASSESSMENT DISTRICT

WHEREAS, the City Council, on June 21, 2022, adopted Resolution No. -___ directing the Engineer to prepare and file with the City Clerk, a report in writing in accordance with the requirements of Streets and High ways Code, Section 22565 et. seq.; and

WHEREAS, Willdan Financial Services, as Assessment Engineer on behalf of the City of Lynwood, has prepared and filed said report with the City Clerk and the City Clerk has presented said report to this City Council for consideration.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY FIND, PROCLAIM, ORDER, AND RESOLVE AS FOLLOWS:

Section 1. The City Council of the City of Lynwood hereby finds and declares that the foregoing recitals are true and c orrect, and incorporates them herein as findings and as a substantive part of this Resolution.

Section 2. The City Council has considered said report as filed and is hereby approved.

Section 3. Said report, including any plan and diagram 201 7-A, estima tes of costs and expenses and assessments shall be placed on file in the office of the City Clerk and may be examined by any interested persons.

Section 4. Authorize the Mayor to execute the Resolution for and on behalf of the City of Lynwood.

Section 5. This Resolution shall take full force and effect immediately upon adoption by the City Council.

PASSED, APPROVED and ADOPTED this 21st day of June, 2022.

City Council Regular Meeting - Page 627 of 788
2 _______________________________
Jorge Casanova
Mayor

ATTEST:

__________________________ _________________________________ María Quiñónez Ernie Hernandez
City Clerk City Manager

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

__________________________ _________________________________ Noel Tapia Mir T. Fattahi
City Attorney Acting City Engineer

City Council Regular Meeting - Page 628 of 788
3 STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the above and foregoing resolution was duly adopted by the City Council of the City of Lynwood at a regular meeting held in the City Hall of said City on the day of June 21, 2022 , and passed by the following vote:

AYES:

NOES:

ABSENT:

_________________________________
City Clerk, City of Lynwood

STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

I, the undersigned City Clerk of the City of Lynwood, and Clerk of the City Council of said City, do hereby certify that the above and forgoing is a full, true and correct copy of Resolution No. __________ on file in my office and that said resolution was adopted on the date and by the vote therein stated.

Dated this 21 day of June , 2022.

_________________________________
City Clerk, City of Lynwood
City Council Regular Meeting - Page 629 of 788
1 RESOLUTION NO. _____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD DECLARING

ITS INTENTION TO ORDER THE LEVY AND COLLECTION OF ANNUAL ASSESSMENTS FOR FISCAL YEAR 2022-2023 WITHIN THE LYNWOOD LIGHTING

ASSESSMENT DISTRICT PURSUANT TO THE LANDSCAPING AND LIGHTING ACT OF 1972 (COMMENCING WITH STREETS AND HIGHWAYS CODE SECTION 22500 ET SEQ.) AND FIXING THE TIME AND PLACE FOR HEARING PROTESTS AND OBJECTIONS AS JULY 19, 2022

WHEREAS, the City Council has ordered and the Engineer , Willdan Financial Services serving on behalf of the City of Lynwood as Assessment Engineer, has prepared and filed a report in writing containing all matters required by Council under Streets and Highways Code, Section 22565, et seq.; and

WHEREAS, said report has been present ed to the City Council for consideration and has been received and approved.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY FIND, PROCLAIM, ORDER, AND RESOLVE AS FOLLOWS:

Section 1. The City Council of the City of Lynwood hereby fi nds and declares that the foregoing recitals are true and correct, and incorporates them herein as findings and as a substantive part of this Resolution.

Section 2. Pursuant to the Landscaping and Lighting Act of 1972 commencing with Streets and Highways Code Section 22500 et seq., the City Council of the City of Lynwood hereby declares its intention to order the levy and collection of assessments against the assessable lots and parcels of land within an existing assessment district designated "Lynwood Lig hting Assessment District” (the “District) for fiscal year 2022- 2023 to pay for the costs of those existing and previously proposed improvements described as:

“The installation or construction and maintenance and servicing of existing and previously proposed public lighting facilities and facilities which are appurtenant thereto or which are necessary or convenient for the maintenance or servicing thereof, including but not limited to, electric current, repair of street light standards and fixtures and inc idental costs including labor, material and equipment. Such improvements constitute the maintenance and operation of sidewalks and streets, specifically, the maintenance and operation of existing and previously proposed public lighting facilities located i n and along sidewalks and streets, including street lights and traffic signals, and facilities which are appurtenant thereto or which are necessary or convenient for the maintenance or operation thereof, including the cost of rent, repair, replacement, rehabilitation, fuel, power, electrical current, care, and supervision necessary to properly operate and maintain public lighting facilities and traffic signals located in and along public streets within the City; and the installation and construction of prev iously City Council Regular Meeting - Page 630 of 788
2 proposed public lighting facilities, and facilities which are appurtenant thereto or which are necessary or convenient for the maintenance or operation thereof, which have been or are to be paid from the proceeds of revenue bonds."
The boundaries of the District are conterminous with the boundaries of the City of Lynwood as shown on the map identified as Assessment District Map No. 20 17-A on file in the office of the City Engineer.

Section 3. Reference is hereby made to the report of the Engineer a pproved by City Council on June 21, 2022, by a resolution, and on file in the office of the City Clerk, describing the improvements made or to be made, the maintenance and servicing thereof, the boundaries of the District and any zones therein, and the pro posed assessments upon assessable lots and parcels of land within the District.

Section 4. Notice is hereby given that on July 19, 2022, at the hour of 6:00 p.m. or soon thereafter , in the Cou ncil Chambers of City Hall Annex , 1135 0 Bullis Road, Lynwood, California, is the date, hour and place fixed for the hearing of protests and objections by the City Council to the levy and collection of the proposed assessments (existing rates) against the lots and parcels of land within the District for fiscal year 2022-2023.

Any and all persons having any protest or objection to the proposed improvements, the extent of the assessment district, or the levy and collection of the proposed assessments may appear before the City Council at said hearing and show cause why said improvements should not be carried out and the proposed assessment and diagram confirmed, all in accordance with this Resolution of Intent and the report of the City Engineer. Prior to the conclusion of the hearing, any interested person may file a written protest with the City Clerk, or, having previously filed a protest, may file a written withdrawal of protest. A written protest shall state all grounds of objection.

A protest by a property owner shall contain a description sufficient to identify the property owned by him. All interested persons shall be afforded the opportunity to hear and be heard. The City Council shall consider all oral statements and written protests or communications made or filed by an interested person.

Given the Covid -19 Pandemic, this Public Hearing may be held telephonically or by video conferencing to protect the health and well -being of the meeting participants. To participate, please join via Zoom or by telephone: 1 -669-900-9128 or 1 -253-215-8782 Meeting ID: 835-2029-8238.

Information on the telephonic or video conferencing access to the City Council Meeting may change. To receive the most updated information on whether the Public Hearing is accessible telephonically or videoconferencing; and/or changes on the pho ne numbers as well as access code and password, this information will be included in the July 19, 2022 Agenda. Members of the public may access this Agenda online by visiting the City of Lynwood’s website at www.lynwood.ca.us, clicking on “Agendas”, select ing “Council Meeting Agenda Packet”, and select ing “AGENDA July 19, 202 2-Regular Meeting” to City Council Regular Meeting - Page 631 of 788
3 obtain the dial-in number and correlating access code. Members of the public may also use the following link: http://lynwood.ca.us/document-category/agendas/ .

Section 5. The City Clerk is hereby directed to cause notice of the passage of this resolution to be given at the time and place in the form and mann er provided by law.

Section 6. The proposed assessments for fiscal year 2022-2023 will remain the same and are $1.62 per foot of frontage for residentially zoned propert ies and $3.01 per foot of frontage for commercially zoned properties.

Section 7. Authorize the Mayor to execute the Resolution for and on behalf of the City of Lynwood.

Section 8. This Resolution shall take full force and effect immediately upon adoption by the City Council.

PASSED, APPROVED and ADOPTED this 21st day of June, 2022.

_______________________________
Jorge Casanova
Mayor
ATTEST:

__________________________ _________________________________ María Quiñónez Ernie Hernandez
City Clerk City Manager

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

__________________________ _________________________________ Noel Tapia Mir T. Fattahi
City Attorney Acting City Engineer

City Council Regular Meeting - Page 632 of 788
4 STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

AYES:

NOES:

ABSENT:

_________________________________
City Clerk, City of Lynwood

STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

Dated this 21st day of June, 2022.

City Council Regular Meeting - Page 633 of 788
5 _________________________________
City Clerk, City of Lynwood
City Council Regular Meeting - Page 634 of 788
Agenda Item # 22.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Patrick Matson, Director of Human Resources/Risk Management

SUBJECT:

A RESOLUTION OF THE CITY COUNCIL AND THE CITY OF LYNWOOD AMENDING

AND UPDATING THE CITY'S SALARY SCHEDULE IN ACCORDANCE WITH THE

MEMORANDUMS OF UNDERSTANDING (MOU) BETWEEN THE CITY OF
LYNWOOD, THE LYNWOOD EMPLOYEES’ MANAGEMENT GROUP (LEMG) AND THE LYNWOOD EMPLOYEES’ ASSOCIATION (LEA)/AMERICAN FEDERATION OF STATE, COUNTY AND MUNICPAL EMPLOYEES (AFSCME), LOCAL 1920 Recommendation:

Staff recommends that the City Council adopt the attached resolution entitled: "A RESOLUTION OF THE CITY

COUNCIL AND THE CITY OF LYNWOOD AMENDING AND UPDATING THE CITY'S SALARY

SCHEDULE IN ACCORDANCE WITH THE MEMORANDUMS OF UNDERSTANDING (MOU) BETWEEN THE CITY OF LYNWOOD, THE LYNWOOD EMPLOYEES’ MANAGEMENT GROUP (LEMG) AND THE LYNWOOD EMPLOYEES’ ASSOCIATION (LEA)/AMERICAN FEDERATION OF STATE, COUNTY AND MUNICPAL EMPLOYEES (AFSCME), LOCAL 1920"

Background:

In late 2021, the City completed negotiations with both The Lynwood Employees' Management Group (LEMG) and The Lynwood Employees' Association (LEA)/American Federation of State, County and Municipal Employees (AFSCME), Local 1920 and reached an agreement with both bargaining units.

Discussion and Analysis:

In coming to an agreement with both bargaining units, the City agreed to a three-percent (3%) Cost of Living Adjustment (COLA) for members of each bargaining unit, effective July 1, 2022.

In order to reflect the Cost of Living Adjustment due on July 1, 2022, an amended salary schedule was drafted (Exhibit A), which will require the City Council's approval by way of resolution, in order to amend the changes to the City's compensation plan. According to the City's Personnel Rules and Regulations, any changes to the City's classification plan, including compensation, must be made by way of adoption of a resolution.

City Council Regular Meeting - Page 635 of 788
Subsequently, staff is recommending the adoption of the proposed resolution in order to ensure the three-percent (3%) Cost of Living Adjustment is properly administered in time for July 1, 2022, in accordance with the Memorandums of Understanding with both bargaining units.

Fiscal Impact:

This item has been previously budgeted for within the City's current 2-year budget.

Coordinated With:

N/A.

ATTACHMENTS:

Description
Resolution
Exhibit A - Proposed Salary Schedule to Include COLA Increases for FY 22-23 City Council Regular Meeting - Page 636 of 788

RESOLUTION NO. [XX]

A RESOLUTION OF THE CITY COUNCIL AND THE CITY OF LYNWOOD

AMENDING AND UPDATING THE CITY'S SALARY SCHEDULE IN ACCORDANCE

WITH THE MEMORANDUMS OF UNDERSTANDING (MOU) BETWEEN THE CITY OF LYNWOOD, THE LYNWOOD EMPLOYEES’ MANAGEMENT GROUP (LEMG) AND THE LYNWOOD EMPLOYEES’ ASSOCIATION (LEA)/AMERICAN

FEDERATION OF STATE, COUNTY AND MUNICPAL EMPLOYEES (AFSCME), LOCAL 1920

WHEREAS, the City of Lynwood is a General Law City under California law and is governed by and elected City Council; and

WHEREAS, the City Council of the City of Lynwood has adopted an Employee Classification and Position Plan and on occasion amends the plan as needed; and

WHEREAS, the City Council of the City of Lynwood has adopted a salary resolution with salary schedules for Management and General employees; and

WHEREAS, negotiations between the City of Lynwood, The Lynwood Employees’ Management Group (LEMG) and The Lynwood Employees’ Association (LEA)/American Federation of State, County and Municipal Employees (AFSCME), Local 1920 took place and agreements with both bargaining groups were reached in late 2021; and

WHEREAS, the Memorandums of Understanding between the City of Lynwood, The Lynwood Employees’ Management Gro up (LEMG) and the Lynwoo d Employees’ Association (LEA )/American Federation of State, County and Municipal Employees (AFSCME), Local 1920, contain language in which a three -percent (3%) Cost of Living Adjustment (COLA) is to be afforded to members within bo th bargaining units on July 1, 2022; and

WHEREAS, the City’s salary schedule must be amended to reflect the agreed upon COLA increases of three-percent (3%) in each respective bargaining unit’s MOU;

NOW, THEREFORE, THE LYNWOOD CITY COUNCIL DOES HEREBY
RESOLVE AND DETERMINE AS FOLLOWS:

Section 1. The City Council of the City of Lynwood hereby finds and declares that the foregoing recitals are true and correct, and incorporates them herein as findings and as a substantive part of this Resolution

Section 2. Amend the Employees Classification Plan, Salary Schedule to include the updated salaries for all employees within each bargaining unit to reflect the agreed upon Cost of Living Adjustments (COLA’s) in each MOU.

City Council Regular Meeting - Page 637 of 788

Section 3. Authorize the Mayor to execute the Resolution for and on behalf of the City of Lynwood.

Section 4. That the modifications so ordered by this Resolution shall become effective July 1, 2022 upon its adoption.

PASSED, APPROVED and ADOPTED this 21st day of June, 2022

Jorge Casanova
MAYOR

ATTEST:

Maria Quinonez

CITY CLERK

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

Noel Tapia Patrick Matson
CITY ATTORNEY DIR. OF HUMAN RESOURCES

City Council Regular Meeting - Page 638 of 788

CITY OF LYNWOOD

CLASSIFICATION & COMPENSATION SCHEDULE
Biweekly and Monthly Salaries & MOU-Related Pay
As of July1, 2022

ELECTED OFFICIALS

UNIT JOB TITLE CURRENT
E Councilmember 975.00
E City Clerk 1,000.00
E City Treasurer 1,000.00
CITY MANAGEMENT: At-Will Contract Employees

JOB TITLE STEP A B C D E
Ex/AW City Manager* DOQ
Ex/AW Assistant City Manager DOQ
DEPARTMENT DIRECTOR: Executive Magagement At-Will Contract Employees (Under Reso No. 2021.105)

JOB TITLE STEP A B C D E
Ex/AW Director of Community Development Annual Salary 157,071.58 164,925.17 173,171.43 181,830.01 190,921.52 Monthly Salary 13,089.30 13,743.77 14,430.96 15,152.51 15,910.13 Ex/AW Director of Finance Annual Salary 146,875.55 154,219.33 161,930.30 170,026.83 178,528.17 Monthly Salary 12,239.62 12,851.62 13,494.19 14,168.90 14,877.35 Ex/AW Director of HR & Risk Management Annual Salary 146,875.55 154,219.33 161,930.30 170,026.83 178,528.17 Monthly Salary 12,239.62 12,851.62 13,494.19 14,168.90 14,877.35 Ex/AW Director of Public Works Annual Salary 157,071.58 164,925.17 173,171.43 181,830.01 190,921.52 Monthly Salary 13,089.30 13,743.77 14,430.96 15,152.51 15,910.13 Ex/AW Director of Recreation & Community Services Annual Salary 146,875.55 154,219.33 161,930.30 170,026.83 178,528.17 Monthly Salary 12,239.62 12,851.62 13,494.19 14,168.90 14,877.35 Ex/AW Director of Technology Services Annual Salary 140,696.22 147,731.04 155,117.59 162,873.48 171,017.16 Monthly Salary 11,724.68 12,310.92 12,926.46 13,572.79 14,251.43 City Council Regular Meeting - Page 639 of 788
DEPARTMENT DIRECTOR: Executive Magagement At-Will Contract Employees (Pre-Date Reso No. 2021.105)

JOB TITLE STEP A B C D E
Ex/AW Director of Recreation & Community Services* DOQ
Ex/AW Director of Technology Services* DOQ
MANAGEMENT: At-Will Contract Employees
M/AW Assistant City Engineer DOQ
M/AW City Engineer DOQ
MANAGEMENT: At-Will Contract Employees
M/AW Deputy Director of Finance DOQ
M/AW Deputy Director of Community Development DOQ
M/AW Controller DOQ
M/AW Risk Manager DOQ
M/AW American Rescue Plan Act Coordinator* Monthly 6,999.28 Annually 83,991.45
MANAGEMENT CIVIL SERVICE EMPLOYEES - Supervisory, Professional & Technical Staff

UNIT JOB TITLE BAND STEP A B C D E
M. Accounting/Auditing Supervisor M-54 2,911.02 3,053.82 3,240.04 3,418.25 3,606.25 6,307.22 6,616.61 7,020.10 7,406.20 7,813.54 M. Accountant M-55 2,941.59 3,085.89 3,274.06 3,454.14 3,644.12 6,373.45 6,686.09 7,093.80 7,483.97 7,895.58 M. Administrative Analyst II M-50 2,668.27 2,801.69 2,941.77 3,088.86 3,243.30 5,781.25 6,070.32 6,373.84 6,692.53 7,027.15 City Council Regular Meeting - Page 640 of 788

UNIT JOB TITLE BAND STEP A B C D E
M Administrative Analyst III M-56 3,109.47 3,266.20 3,427.28 3,604.05 3,786.91 6,737.18 7,076.77 7,425.78 7,808.77 8,204.98 Ex. Assistant to the City Manager M-65 3,847.06 4,016.26 4,193.91 4,380.45 4,576.32 8,335.29 8,701.89 9,086.81 9,490.98 9,915.35 M Billing & Collections Supervisor M-54 2,911.02 3,053.82 3,240.04 3,418.25 3,606.25 6,307.22 6,616.61 7,020.10 7,406.20 7,813.54 M Building Official M-70 4,611.69 4,845.74 5,088.05 5,342.20 5,608.46 9,992.00 10,499.10 11,024.10 11,574.77 12,151.65 M Civil Engineer M-61 3,383.95 3,553.15 3,730.81 3,917.35 4,113.21 7,331.89 7,698.49 8,083.42 8,487.58 8,911.96 M Deputy Dir. of Admin. Services M-61 3,383.95 3,553.15 3,730.81 3,917.35 4,113.21 7,331.89 7,698.49 8,083.42 8,487.58 8,911.96 M Deputy Dir. of Public Works M-71 5,501.63 5,666.68 5,836.68 6,011.78 6,192.13 11,920.20 12,277.81 12,646.14 13,025.52 13,416.29 M Deputy Dir. of Rec and Comm Services M-70 4,611.69 4,845.74 5,088.05 5,342.20 5,608.46 9,992.00 10,499.10 11,024.10 11,574.77 12,151.65 M Electrical Maintenance Supervisor M-45 2,374.55 2,492.97 2,618.37 2,751.59 2,889.16 5,144.86 5,401.44 5,673.13 5,961.78 6,259.85 M Deputy City Clerk M-52 2,819.49 2,959.68 3,109.47 3,266.20 3,427.28 6,108.90 6,412.64 6,737.18 7,076.77 7,425.77 M. Deputy City Treasurer M-52 2,819.49 2,959.68 3,109.47 3,266.20 3,427.28 6,108.90 6,412.64 6,737.18 7,076.77 7,425.77 M/Conf. Human Resources & Risk Analyst M-52 2,819.49 2,959.68 3,109.47 3,266.20 3,427.28 6,108.90 6,412.64 6,737.18 7,076.77 7,425.77 M Planning Associate M-56 3,109.47 3,266.20 3,427.29 3,604.05 3,786.91 6,737.18 7,076.77 7,425.78 7,808.77 8,204.98 M Planning Manager M-69 4,379.65 4,631.48 4,897.79 5,179.42 5,477.23 9,489.24 10,034.88 10,611.88 11,222.07 11,867.34 M Principal Accountant M-65 3,847.06 4,016.26 4,193.91 4,380.45 4,576.32 8,335.29 8,701.89 9,086.81 9,490.98 9,915.35 M Principal Planner M-67 4,078.61 4,200.11 4,413.54 4,634.63 4,914.17 8,836.99 9,100.24 9,562.67 10,041.69 10,647.36 City Council Regular Meeting - Page 641 of 788

UNIT JOB TITLE BAND STEP A B C D E
M Public Safety Manager M-65 3,847.06 4,016.26 4,193.91 4,380.45 4,576.32 8,335.29 8,701.89 9,086.81 9,490.98 9,915.35 M Public Works Operations Manager M-69 4,379.65 4,631.48 4,897.79 5,179.42 5,477.23 9,489.24 10,034.88 10,611.88 11,222.07 11,867.34 M Public Works Operations Supervisor M-56 3,109.47 3,266.20 3,427.29 3,604.05 3,786.91 6,737.18 7,076.77 7,425.78 7,808.77 8,204.98 M Public Works Special Projects Mgr M-71 5,501.63 5,666.68 5,836.68 6,011.78 6,192.13 11,920.20 12,277.81 12,646.14 13,025.52 13,416.29 M Recreation Facility & Program Supervisor M-50 2,668.27 2,801.69 2,941.77 3,088.86 3,243.30 5,781.25 6,070.32 6,373.84 6,692.53 7,027.15 M Recreation Superintendent II M-61 3,383.95 3,553.15 3,730.81 3,917.35 4,113.21 7,331.89 7,698.49 8,083.42 8,487.58 8,911.96 M. Senior Accountant M-61 3,383.95 3,553.15 3,730.81 3,917.35 4,113.21 7,331.89 7,698.49 8,083.42 8,487.58 8,911.96 M/Conf. Senior Human Resources & Risk Analyst M-65 3,847.06 4,016.26 4,193.91 4,380.45 4,576.32 8,335.29 8,701.89 9,086.81 9,490.98 9,915.35 M/Conf. Senior Managment Analyst M-61 3,383.95 3,553.15 3,730.81 3,917.35 4,113.21 7,331.89 7,698.49 8,083.42 8,487.58 8,911.96 M Senior Project Manager M-61 3,383.95 3,553.15 3,730.81 3,917.35 4,113.21 7,331.89 7,698.49 8,083.42 8,487.58 8,911.96 M Senior Public Works Manager M-56 3,109.47 3,266.20 3,427.29 3,604.05 3,786.91 6,737.18 7,076.77 7,425.78 7,808.77 8,204.98 M System Analyst M-56 3,109.47 3,266.20 3,427.29 3,604.05 3,786.91 6,737.18 7,076.77 7,425.78 7,808.77 8,204.98 M Water Operations Supervisor M-56 3,109.47 3,266.20 3,427.29 3,604.05 3,786.91 6,737.18 7,076.77 7,425.78 7,808.77 8,204.98 CIVIL SERVICE EMPLOYEES - Leads & General Staff - - - - -

UNIT JOB TITLE BAND STEP A STEP B STEP C STEP D STEP E G Account Clerk G-31 1,696.84 1,781.77 1,871.09 1,963.88 2,061.95 3,676.50 3,860.51 4,054.02 4,255.08 4,467.57 G Accounting Technician G-38 2,000.66 2,100.69 2,205.73 2,316.01 2,431.81 4,334.76 4,551.49 4,779.08 5,018.02 5,268.92 City Council Regular Meeting - Page 642 of 788

UNIT JOB TITLE BAND STEP A STEP B STEP C STEP D STEP E G Administrative Assistant G-41 2,165.27 2,273.84 2,387.65 2,506.72 2,632.82 4,691.42 4,926.65 5,173.24 5,431.23 5,704.45 G Assistant Administratuve Analyst G-43 2,273.84 2,387.65 2,506.72 2,632.82 2,766.79 4,926.64 5,173.24 5,431.24 5,704.44 5,994.72 G Assistant to the City Clerk G-38 2,000.66 2,100.69 2,205.73 2,316.01 2,431.81 4,334.76 4,551.49 4,779.08 5,018.02 5,268.92 G Building Inspector G-55 2,819.49 2,959.68 3,109.47 3,266.20 3,427.28 6,108.90 6,412.65 6,737.18 7,076.77 7,425.77 G Building Maintenance Lead Worker G-43 2,273.84 2,387.65 2,506.72 2,632.82 2,766.79 4,926.64 5,173.24 5,431.24 5,704.44 5,994.72 G Building Maintenance Worker G-38 2,000.66 2,100.69 2,205.73 2,316.01 2,431.81 4,334.76 4,551.49 4,779.08 5,018.02 5,268.92 G Business License Officer G-36 1,916.60 2,012.05 2,112.72 2,218.67 2,329.88 4,152.63 4,359.44 4,577.57 4,807.12 5,048.07 G Business License Technician G-38 2,000.66 2,100.69 2,205.73 2,316.01 2,431.81 4,334.76 4,551.49 4,779.08 5,018.02 5,268.92 G Custodian G-29 1,616.28 1,696.84 1,781.77 1,871.08 1,963.88 3,501.95 3,676.49 3,860.51 4,054.02 4,255.08 G Electrical Maintenance Worker G-42 2,210.81 2,337.93 2,472.36 2,614.52 2,764.85 4,790.08 5,065.50 5,356.77 5,664.79 5,990.52 G Executive Assistant to G-46 2,492.98 2,618.37 2,751.59 2,889.16 3,031.98 Community Development 5,401.45 5,673.13 5,961.78 6,259.84 6,569.29 G Executive Assistant G-46 2,492.98 2,618.37 2,751.59 2,889.16 3,031.98 5,401.45 5,673.13 5,961.78 6,259.84 6,569.29 G/Conf. Human Resources & Risk Technician G-38 2,000.66 2,100.69 2,205.73 2,316.01 2,431.81 4,334.76 4,551.49 4,779.08 5,018.02 5,268.92 G/Conf. Human Resources & Risk Specialist G-45 2,411.52 2,531.79 2,659.15 2,794.45 2,934.16 5,224.97 5,485.54 5,761.48 6,054.64 6,357.35 G Garage/Fleet Coordinator G-34 1,825.43 1,916.70 2,012.53 2,113.16 2,218.82 3,955.09 4,152.85 4,360.48 4,578.51 4,807.45 G Information System Assistant G-37 1,963.88 2,061.96 2,165.27 2,273.83 2,387.66 4,255.08 4,467.57 4,691.41 4,926.62 5,173.26 City Council Regular Meeting - Page 643 of 788

UNIT JOB TITLE BAND STEP A STEP B STEP C STEP D STEP E G Information System Technician G-41 2,165.27 2,273.84 2,387.65 2,506.72 2,632.82 4,691.42 4,926.65 5,173.24 5,431.23 5,704.45 G Laborer G-24 1,429.79 1,501.60 1,576.89 1,655.70 1,738.87 3,097.89 3,253.46 3,416.58 3,587.36 3,767.55 G Lead Custodian G-34 1,825.43 1,916.70 2,012.53 2,113.16 2,218.82 3,955.09 4,152.85 4,360.48 4,578.51 4,807.45 G Lead Public Safety Officer G-54 2,652.68 2,784.97 2,925.06 3,073.89 3,227.58 5,747.47 6,034.10 6,337.63 6,660.10 6,993.08 G Maintenance Worker G-37 1,963.88 2,061.96 2,165.27 2,273.83 2,387.66 4,255.08 4,467.57 4,691.41 4,926.62 5,173.26 G Media Specialist G-46 2,492.98 2,618.37 2,751.59 2,889.16 3,031.98 5,401.45 5,673.13 5,961.78 6,259.84 6,569.29 G Office Assistant I G-12 1,066.43 1,119.84 1,175.88 1,234.54 1,296.72 2,310.60 2,426.32 2,547.75 2,674.84 2,809.55 G Office Assistant II G-24 1,429.79 1,501.60 1,576.89 1,655.70 1,738.87 3,097.89 3,253.46 3,416.58 3,587.36 3,767.55 G Park Maintenance Lead Worker G-43 2,273.84 2,387.65 2,506.72 2,632.82 2,766.79 4,926.64 5,173.24 5,431.24 5,704.44 5,994.72 G/Conf. Payroll Specialist G-46 2,492.98 2,618.37 2,751.59 2,889.16 3,031.98 5,401.45 5,673.13 5,961.78 6,259.84 6,569.29 G Permit Technician G-39 2,061.95 2,165.27 2,273.84 2,387.65 2,506.72 4,467.57 4,691.41 4,926.64 5,173.24 5,431.23 G Public Safety Officer G-45 2,411.52 2,531.79 2,659.15 2,794.45 2,934.16 5,224.97 5,485.54 5,761.48 6,054.64 6,357.35 G Public Works Assistant G-46 2,492.98 2,618.37 2,751.59 2,889.16 3,031.98 5,401.45 5,673.13 5,961.78 6,259.84 6,569.29 G Public Works Operations Coordinator G-34 1,825.43 1,916.70 2,012.53 2,113.16 2,218.82 3,955.09 4,152.85 4,360.48 4,578.51 4,807.45 G Public Works Inspector G-57 2,871.75 3,015.34 3,166.10 3,324.41 3,490.63 6,222.12 6,533.23 6,859.89 7,202.89 7,563.04 G Public Works Technician G-38 2,000.66 2,100.69 2,205.73 2,316.01 2,431.81 4,334.76 4,551.49 4,779.08 5,018.02 5,268.92 City Council Regular Meeting - Page 644 of 788

UNIT JOB TITLE BAND STEP A STEP B STEP C STEP D STEP E G Recreation Coordinator G-39 2,061.95 2,165.27 2,273.84 2,387.65 2,506.72 4,467.57 4,691.41 4,926.64 5,173.24 5,431.23 G Recreation Specialist G-23 1,395.64 1,465.69 1,539.24 1,616.28 1,696.85 3,023.89 3,175.67 3,335.01 3,501.93 3,676.50 G Right -Of-Way Maintenance Lead Worker G-43 2,273.84 2,387.65 2,506.72 2,632.82 2,766.79 4,926.64 5,173.24 5,431.24 5,704.44 5,994.72 G Senior Accounting Technician G-46 2,492.98 2,618.37 2,751.59 2,889.16 3,031.98 5,401.45 5,673.13 5,961.78 6,259.84 6,569.29 G Sr. Building Inspector/Asst. Building Official G-61 3,383.95 3,553.15 3,730.81 3,917.35 4,113.21 7,331.89 7,698.49 8,083.42 8,487.58 8,911.96
G Senior Information Systems Technician G-44 2,329.87 2,470.07 2,568.89 2,699.36 2,835.06 5,048.06 5,351.82 5,565.93 5,848.61 6,142.64 G Senior Lifeguard G-23 1,395.64 1,465.69 1,539.24 1,616.28 1,696.85 3,023.89 3,175.67 3,335.01 3,501.93 3,676.50 G Senior Street Maintenance Worker G-39 2,061.95 2,165.27 2,273.84 2,387.65 2,506.72 4,467.57 4,691.41 4,926.64 5,173.24 5,431.23 G Street Maintenance Lead Worker G-43 2,273.84 2,387.65 2,506.72 2,632.82 2,766.79 4,926.64 5,173.24 5,431.24 5,704.44 5,994.72 G Street Maintenance Worker G-37 1,963.88 2,061.96 2,165.27 2,273.82 2,387.66 4,255.08 4,467.57 4,691.41 4,926.62 5,173.26 G Water Quality Specialist G-44 2,329.87 2,470.07 2,568.89 2,699.36 2,835.06 5,048.06 5,351.82 5,565.93 5,848.61 6,142.64 G Water Service/Wastewater Lead Worker G-58 2,991.13 3,132.69 3,282.58 3,441.83 3,606.28 6,480.79 6,787.49 7,112.26 7,457.30 7,813.60 G Water Service/Wastewater Worker I G-40 2,151.07 2,254.38 2,362.95 2,476.76 2,595.84 4,660.65 4,884.50 5,119.73 5,366.32 5,624.32 G Water Service/Wastewater Worker II G-45 2,411.52 2,531.79 2,659.15 2,794.45 2,934.16 5,224.97 5,485.54 5,761.48 6,054.64 6,357.35 G Water Service/Wastewater Worker III G-47 2,580.33 2,709.02 2,845.28 2,990.06 3,139.55 5,590.72 5,869.53 6,164.78 6,478.46 6,802.37 NON-CIVIL SERVICE - General and Exempt At-Will Staff
* Eligible for any LEMG COLA
City Council Regular Meeting - Page 645 of 788
G/AW Community Liaison DOQ
G/AW Trainee DOQ
EX/AW CalPERS Retired Annuitant DOQ
HOURLY NON-CIVIL SERVICE - Part-Time, Temporary & Seasonal Staff Note: Minimum Wage Increase 1-1-22 Resolution 2018.215

UNIT JOB TITLE BAND STEP A STEP B STEP C STEP D STEP E G Administrative Intern H-43B 15.45 16.29 17.19 18.13 19.12 G Cashier (Pool) H-66 15.45 - - - - G Information Systems Technician H-38A 27.10 28.19 29.33 30.54 31.80 G Laborer (PW) H-18 15.45 16.22 17.03 17.87 18.76 G Laborer (Recreation Facilites) H-15 15.45 16.22 17.03 17.87 18.76 G Lifeguard H-8 15.45 16.22 17.03 17.87 18.76 G Locker Attendant H-6 15.45 - - - - G Maintenance Worker H-43 15.45 16.25 17.10 17.98 18.91 G Office Assistant II H-36B 15.45 16.22 17.01 17.87 18.76

UNIT JOB TITLE BAND STEP A STEP B STEP C STEP D STEP E G Public Safety Officer H-39 20.76 21.79 22.89 24.03 25.23 G Recreation Leader H-14 15.45 15.91 16.39 16.87 17.38 G Recreation Specialist/Instructor H-13 16.28 17.10 17.96 18.86 19.80 G Senior Lifeguard H-8B 15.45 16.29 17.19 18.13 19.12 * Eligible for any LEMG COLA
City Council Regular Meeting - Page 646 of 788
NON-CIVIL SERVICE - General and Exempt At-Will Staff
G/AW Community Liaison DOQ
G/AW Trainee DOQ
EX/AW CalPERS Retired Annuitant DOQ
HOURLY NON-CIVIL SERVICE - Part-Time, Temporary & Seasonal Staff Note: Minimum Wage Increase 1-1-22 Resolution 2018.215

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Noel Tapia, City Attorney

SUBJECT:

CONSIDERATION OF A RESOULTION PROCLAIMING A LOCAL EMERGENCY,

RATIFYING THE PROCLAMATION OF A STATE OF EMERGENCY BY GOVERNOR

NEWSOM, FINDING THAT THE PROCLAIMED STATE OF EMERGENCY

CONTINUES TO IMPACT THE ABILITY TO MEET SAFELY IN PERSON, AND

DECLARING THAT THE CITY COUNCIL AND CITY COMMISSIONS AND

COMMITTEES WILL COTINUE TO MEET REMOTELY IN ADHERENECE WITH AB 361 IN ORDER TO ENSURE THE HEALTH AND SAFETY OF THE PUBLIC Recommendation:

Staff is recommending that the City Council adopt a City Council Resolution entitled: “A Resolution Proclaiming a Local Emergency, Ratifying the Proclamation of a State of Emergency by Governor Newsom, Finding that the Proclaimed State of Emergency Continues to Impact the Ability to Meet Safely in Person, and Declaring that the City Council and City Commissions and Committees Will Continue to Meet Remotely in Adherence With AB 361 in Order to Ensure the Health and Safety of the Public”

Background:

Beginning in March 2020, Governor Newsom issued a series of Executive Orders aimed at containing the novel coronavirus (COVID-19). Among these were several Executive Orders N-25-20, N-29-20, N-35-20 (collectively, the Brown Act Orders) that waived requirements in the Brown Act expressly or impliedly requiring the physical presence of city councilmembers, staff, or the public at local agency meetings.

Discussion and Analysis:

City Council Regular Meeting - Page 648 of 788
Beginning in March 2020, Governor Newsom issued a series of Executive Orders aimed at containing the novel coronavirus (COVID-19). Among these were several Executive Orders N-25-20, N-29-20, N-35-20 (collectively, the Brown Act Orders) that waived requirements in the Brown Act expressly or impliedly requiring the physical presence of city councilmembers, staff, or the public at local agency meetings. Specifically, the orders:

• Waived the requirement that local agencies provide notice of each teleconference location from which a member of the legislative body will be participating in a public meeting; • Waived the requirement that each teleconference location be accessible to the public; • Waived the requirement that members of the public be able to address the legislative body at each teleconference conference location;
• Waived the requirement that local agencies post agendas at all teleconference locations; and, • Waived the requirement that at least a quorum of the members of the local body participate from locations within the boundaries of the territory over which the local body exercises jurisdiction.

On June 11, 2021, the Governor issued Executive Order (EO) N-08-21 to begin winding down some of the prior measures that were adopted to respond to COVID-19. Notably, EO N-08-21 rescinds the Brown Act Orders, effective September 30, 2021.

On September 16, 2021, Governor Newsom signed Assembly Bill AB 361 (Rivas, 2021), which allows cities to continue to meet remotely during proclaimed states of emergency under modified Brown Act requirements that are similar, but not identical to the rules and procedures established by the Brown Act Orders. The pending expiration of the Brown Act Orders and the enactment of AB 361 created some ambiguity. To provide clarification, the Governor issued Executive Order N-15-21, explaining that cities may continue to hold meetings in accordance with the Brown Act Orders until September 30, or they may hold meetings in accordance with the requirements of AB 361.

Should the City Council wish to continue meeting remotely beyond September 30 pursuant to AB 361, the City Council would be required to adopt the attached resolution. If the City Council chooses to utilize the option for remote meetings under AB 361, it can continue using the remote meeting procedures it has been using throughout the COVID-19 pandemic, subject to certain requirements that must be considered as part of the initial determination to adopt remote meeting protocols. Once adopted, the initial authorizing resolution is effective for no more than thirty (30) days.

The City may extend the authorization for an additional thirty (30) days via another resolution that makes specific findings in support of continuing remote meetings. The City may continue to extend the authorization for additional thirty (30) day increments for the duration of the declared emergency, or until the City Council decides to return to in-person meetings, or otherwise complies with the regular remote meeting requirements of the Brown Act.

To implement remote meetings under AB 361, one of three criteria must be met at the time the City is holding a meeting during a proclaimed state of emergency by the Governor that includes area within the jurisdictional boundaries of the City:

• State or local officials have imposed or recommended measures to promote social distancing; or • For the purpose of determining, by majority vote, whether as a result of the state of emergency, meeting in person would present imminent risks to the health or safety of attendees; or • The City Council has previously determined, by majority vote, that, as a result of the state of emergency, meeting in person would present imminent risks to the health or safety of attendees.

If one of these three criteria are met, then the City can conduct meetings remotely via Government Code §§ 54953(e), et seq.

If the City Council makes the required findings and chooses to meet remotely, every 30 days the City Council will be required to make findings about whether the circumstances still apply. The City Council must find that it reconsidered the circumstances of the State of Emergency and that one of the following circumstances remains:

• The City Council finds that meeting in person would present imminent risks to the health or safety of attendees; or

• State or local officials have imposed or recommended measures to promote social distancing.

City Council Regular Meeting - Page 649 of 788

If the City Council makes the findings to continue having remote meetings, the City must meet the following requirements:

1. The City must give notice and post agendas as otherwise required by the Brown Act, including directions for how the public can access the meetings;

2. Provide members of the public access to the meeting and an opportunity to address the body directly;

3. Provide members of the public the opportunity to comment in real time;

4. Suspend further action on items in the meeting agenda in the event that there is a disruption in the ability of the meeting to be broadcast to members of the public or in the ability for members of the public to comment;

Fiscal Impact:

No fiscal impact is anticipated the proposed action.

Coordinated With:

ATTACHMENTS:

Description
Reso- Continue Remote Meetings
City Council Regular Meeting - Page 650 of 788
RESOLUTION NO. __________

A RESOLUTION OF THE CITY OF LYNWOOD PROCLAIMING A LOCAL

EMERGENCY, RATIFYING THE PROCLAMATION OF A STATE OF

EMERGENCY BY GOVERNOR NEWSOM, FINDING THAT THE PROCLAIMED

STATE OF EMERGENCY CONTINUES TO IMPACT THE ABILITY TO MEET

SAFELY IN PERSON, AND DECLARING THAT THE CITY COUNCIL AND CITY

COMMISSIONS AND COMMITTEES WILL CONTINUE TO MEET REMOTELY IN ADHERENCE WITH AB 361 IN ORDER TO ENSURE THE HEALTH AND SAFETY OF THE PUBLIC.

WHEREAS, all meetings of the City of Lynwood City Council as a legislative body are open and public, as required by the Brown Act (Cal. Gov. Code 54950 – 54963), so that any member of the public may attend, participate, and watch the City Council as a legislative body conduct their business; and

WHEREAS, th e Brown Act, Government Code section 54953(e), makes provisions for remote teleconferencing participation in meetings by members of a legislative body, without compliance with the requirements of Government Code section 54953(b)(3), subject to the existence of certain conditions; and

WHEREAS, on March 4, 2020, Governor Newsom declared a State of Emergency to make additional resources available, formalize emergency actions already underway across multiple state agencies and departments, and help the state prepare for a broader spread of COVID-19; and

WHEREAS, on March 17, 2020, Governor Newsom issued Executive Order N-29-20, which suspended certain provisions of the Brown Act in order to allow local legislative bodies to conduct meetings electronically with out a physical meeting place; and

WHEREAS, on June 11, 2021, the Governor issued Executive Order N -08- 21, which extended the provision of N -29-20 concerning the Brown Act and the conduct of public meetings through September 30, 2021; and

WHEREAS, since t he issuance of Executive Order N -08-21, the Delta variant has emerged, causing a spike in COVID-19 cases throughout the state; and

WHEREAS, Governor Newsom’s proclaimed State of Emergency remains in effect, and State and local officials, including the Los Angeles County Department of Public Health, have imposed or recommended measures to promote social distancing; and

WHEREAS, on September 16, 2021, California Assembly Bill 361 was signed into law, as urgency legislation that goes in effect on October 1, 2021, amending Government Code Section 54953 of the Ralph M. Brown Act to allow City Council Regular Meeting - Page 651 of 788
2 legislative bodies to continue to meet remotely during a proclaimed state of emergency, provided certain conditions are met and certain findings are made; and

WHEREAS, the Cit y of Lynwood is committed to preserving and nurturing public access and participation in meetings of the Lynwood City Council; and

WHEREAS, the City Council desires to take the actions necessary to comply with AB 361 and to continue to hold its City Council, Commission and Committee meetings remotely.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY RESOLVE AND DETERMINE AS FOLLOWS:

Section 1. The City Council for the City of Lynwood finds and declares that the foregoing recitals are true and correct, and incorporates said recitals fully into this Resolution as substantive findings.

Section 2. The City Council hereby proclaims that a local emergency now exists throughout the City, and social distancing and condition caus ing imminent risk to attended has caused, and will continue to cause, conditions of peril to the safety of persons within the City that are likely to be beyond the control of services, personnel, equipment, and facilities of the City, and desires to procla im a local emergency and ratify the proclamation of State of Emergency by the Governor of the State of California.

Section 3. That the City Council has reconsidered the circumstances of the State of Emergency and finds the following circumstances:

a. The factors triggering the State of Emergency continue to directly impact the ability of the members of the City Council and the City’s subordinate Commissions and Committees to meet safely in person; and

b. The State of California and the City of Lynwood continue to impose or recommend measures to promote social distancing.

Section 4. City Council and City Commission and Committee meetings will continue to be conducted remotely for the next 30 days in compliance with AB 361 and Government Code Section ( e)(2), in order to ensure the health and safety of the public while provides access to public meetings.

Section 5. This Resolution shall become effective immediately and shall be reconsidered by the City Council in 30 days or sooner to assess the State o f Emergency and determine whether to continue with the provisions set forth in Assembly Bill 361.

City Council Regular Meeting - Page 652 of 788
3 PASSED, APPROVED and ADOPTED this_____ day of ________, 2022.

_________________________
Jorge Casanova, Mayor
City of Lynwood

ATTEST:

________________________
Maria Quinonez, City Clerk

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

______________________ __________________________
Noel Tapia Ernie Hernandez,
City Attorney City Manager

STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the above and foregoing resolution was duly adopted by the City Council of said City at its regular meeting thereof held in the City Hall of the City on the _________day of____________, 2022 and passed by the following vote:

City Council Regular Meeting - Page 653 of 788
4 AYES:

NOES:

ABSTAIN:

ABSENT:

__________________________
City Clerk, City of Lynwood

STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

I, the undersigned City Clerk of the City of Lynwood, and Clerk of the City Council of said City, do hereby certify that the above and foregoing is a full, true and correct copy of Resolution No. _________ on file in my office and that said resolution was adopted on the date and by the vote therein stated.

Dated this ______ day of ________________, 2022.

__________________________
City Clerk, City of Lynwood
City Council Regular Meeting - Page 654 of 788
Agenda Item # 24.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Ernie Hernandez, City Manager

SUBJECT:

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA OPPOSING INITIATIVE 19-0029A Recommendation:

Staff recommends for the City Council to adopt the attached resolution entitled: "A RESOLUTION OF THE CITY

COUNCIL OF THE CITY OF LYNWOOD, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA OPPOSING INITIATIVE 19-0029A"

Background:

California tribal casinos are an $8 billion-a-year industry, but are not subject to state income taxes, property taxes or local sales taxes. These
casinos promised they would contribute at least $9 billion to the state by 2030 in return for exclusivity on slot machine gambling, but instead sued California to avoid paying their fair share.

California tribal casinos
pay virtually nothing to the state or local governments to help fund critical needs like schools, public safety, and infrastructure.

California initiative 19-0029 would amend the Constitution — authorizing roulette and games played with dice (such as craps) solely at tribal casinos. T
he initiative would also authorize sports wagering solely at tribal casinos and horse racing tracks; and
Discussion and Analysis:

Tribal casinos intend to create a monopoly on sports betting — preventing online or mobile gaming that would generate $500 million each year in taxes for the state that could go toward local programs. T he tribal casino initiative
also changes the Constitution to allow tribal casinos to hire private trial lawyers and replace the role of the Attorney General to sue their non-tribal competitors. T
he potential for frivolous lawsuits could “negatively affect cardrooms, the local governments that receive revenues from cardrooms could experience a reduction in such revenues. In addition, the state and local governments could experience increased costs,” according to the independent Legislative Analyst’s Office analysis. T
he Legislative Analyst’s Office analysis also said, “local governments could also experience decreased revenue,” which could lead to higher taxes — hurting local taxpayers.

City Council Regular Meeting - Page 655 of 788

Opposing California initiative 19-0029 would amend the Constitution — authorizing roulette and games played with dice (such as craps) solely at tribal casinos and
the initiative would also authorize sports wagering solely at tribal casinos and horse racing tracks.

Fiscal Impact:

Unkown but potential losses of jobs specifically in our region will have widespread negative economic impacts.

Coordinated With:

City Attorney
ATTACHMENTS:

Description
Resolution Gaming Opposition
City Council Regular Meeting - Page 656 of 788
RESOLUTION NO. _____________

“A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA OPPOSING INITIATIVE 19-0029A.”

WHEREAS, California initiative 19-0029 would amend the Constitution — authorizing roulette and games played with dice (such as craps) solely at tribal casinos; and

WHEREAS, the initiative would also authorize sports wagering solely at tribal casinos and horse racing tracks; and

WHEREAS, these changes to the Constitution guarantee tribal casinos a virtual monopoly on all gaming in California; and

WHEREAS, California tribal casinos are an $8 billion-a-year industry, but are not subject to state income taxes, property taxes or local sales taxes; and

WHEREAS, California tribal casinos promised they would contribute at least $9 billion to the state by 2030 in return for exclusivity on slot machine gambling, but instead sued California to avoid paying their fair share; and

WHEREAS, California tribal casinos pay virtually nothing to the state or local governments to help fund critical needs like schools, public safety, and infrastructure; and

WHEREAS, the fiscal analysis by the independent Legislative Analyst’s Office found the tribal casino’s monopoly on sports betting compared to other initiatives would result in a loss of hundreds of millions of dollars each year in taxes for the state that could go toward local programs; and

WHEREAS, tribal casinos now want to give themselves a monopoly on sports betting — preventing online or mobile gaming that would generate $500 million each year in taxes for the state that could go toward local programs; and

WHEREAS, the tribal casino initiative also changes the Constitution to allow tribal casinos to hire private trial lawyers and replace the role of the Attorney General to sue their non-tribal competitors; and

WHEREAS, the potential for frivolous lawsuits could “negatively affects cardrooms, the local governments that receive revenues from cardrooms could experience a reduction in such revenues. In addition, the state and local governments could experience increased costs,” according to the independent Legislative Analyst’s Office analysis; and

WHEREAS, the Legislative Analyst’s Office analysis said, “local governments could also experience decreased revenue,” which could lead to higher taxes — hurting local taxpayers.

NOW, THEREFORE, THE LYNWOOD CITY COUNCIL DOES HEREBY
RESOLVE AND DETERMINE AS FOLLOWS:

City Council Regular Meeting - Page 657 of 788

Section 1. The City Council of the City of Lynwood hereby finds and declares that the foregoing recitals are true and correct, and incorporates them herein as findings and as a substantive part of this Resolution.

Section 2. The City Council of the City of Lynwood formally opposes Initiative 19- 0029 and urges California voters to reject the measure this November.

Section 3. Authorize the Mayor to execute the Resolution for and on behalf of the City of Lynwood.

Section 4. Authorize the Mayor to execute the Resolution for and on behalf of the City of Lynwood.

PASSED, APPROVED and ADOPTED this 21st day of June, 2022

Jorge Casanova
MAYOR
ATTEST:

Maria Quinonez

CITY CLERK

APPROVED AS TO FORM:

Noel Tapia

CITY ATTORNEY

City Council Regular Meeting - Page 658 of 788
Agenda Item # 25.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Shanell Shipe, Assistant to the City Manager

SUBJECT:

PURCHASE OF NEW HOLIDAY DECORATIONS FOR THE CITY
Recommendation:

Staff recommends that the City Council adopt the attached resolution entitled: “A RESOLUTION OF THE CITY

COUNCIL OF THE CITY OF LYNWOOD APPROVING THE PURCHASE OF NEW HOLIDAY

DECORATIONS FOR THE CITY AND APPROVING AN APPROPRIATION FROM THE UNASSIGNED FUND BALANCE OF $102,226 TO COVER THE COST."

Background:

New holiday decorations are needed for the City to enhance the look of the community for the holiday season. Two companies provided samples and pricing for new décor to be placed along MLK Blvd. and Atlantic Ave., as well as four different intersections throughout the City. Staff would like to move forward with the purchase of the custom built, lighted decorations in preparation of the holiday season.

On June 15, 2021, the City Council adopted Resolution No. 2021.059, Adopting the Resolution of the Parking and Business Improvement District (PBID) Advisory Board Setting the Assessment Against Business Enterprises in the PBID for the 2021-22 and 2022-23 Fiscal Years for the Levy of the Assessment. In the allocation developed for the proposed spending plan, there was $50,000 designated for seasonal decorations to enhance the décor in the business district. That money will go towards the purchase of the new decorations and an appropriation of $102,226 will be needed to cover the difference.

The City reached out to 3 different companies for quotes on their holiday decor. Of the three, we received samples and quotes from two companies and did not get a response from the third company.

Discussion and Analysis:

Two holiday décor companies provided samples and quotes for the items they had available for purchase, St.

Nick’s Christmas Lighting & Décor and Harrington Decorating Company. Based on Council direction, staff would like to purchase the selected items to enhance the look of the City during the holiday season.

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New holiday decorations will be placed in the following areas of the City –

Lighted pole decorations mounted along Martin Luther King Jr. Blvd, from Imperial Hwy. to Atlantic Ave.

Lighted pole decorations mounted along Atlantic Ave., from Fernwood Ave. to Abbott Rd.

Custom LED skyline on Imperial Hwy. & Atlantic Ave.

Custom LED skyline on Imperial Hwy. & Long Beach Blvd.

Custom LED skyline on Stockwell Dr. & MLK Blvd.

Custom LED skyline on Platt Ave. and MLK Blvd.

Lighted skyline sign on the main City Hall building

Based on Council direction, staff would like to purchase the following decorations from two vendors to enhance the look of the City during the holiday season –

Harrington Decorating Company

Item
Quantity
Unit Price
Total Price
Lighted Christmas Tree Pole Mount
65 $757.32
$49,225.80

$49,225.80

St. Nick’s Christmas Lighting and Decor

Item
Quantity
Unit Price
Total Price
Candy Cane Lighted Pole Mount
65 $1,150
$74,750
LED Happy Holidays Skyline
4 $6,500
$26,000
Happy Holidays Building Sign
1 $2,250
$2,250

$103,000

The total cost of decorations from both companies will cost $152,225.80. If approved, staff will use the $50,000 that is available in the PBID spending plan and the remaining balance of $102,226 will be covered by the unappropriated general fund.

Staff believes that securing the purchase of these decorations via this informal bidding process is more economical and efficient than a formal bidding procedure. To that end, staff requests that the City Council approve this procurement by at least a 4/5 vote of the City Council.

Fiscal Impact:

FY 21-22 PBID includes $50,000 to cover the cost for seasonal decorations. The remaining $102,226 will come from the unassigned fund balance.

Coordinated With:

Finance Department
Public Works Department
City Council Regular Meeting - Page 660 of 788
ATTACHMENTS:

Description
Resolution
City Council Regular Meeting - Page 661 of 788
RESOLUTION NO. _____

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPROVING THE

PURCHASE OF NEW HOLIDAY DECORATIONS FOR THE CITY AND APPROVING AN APPROPRIATION FROM THE UNASSIGNED FUND BALANCE OF $102,226 TO COVER THE COST

WHEREAS, New holiday decorations are needed in order to enhance the look of the City during the holiday season; and

WHEREAS, The new decorations will be placed on the light poles along Martin Luther King Jr. Blvd. and Atlantic Ave. as well as various intersections thr oughout the City; and

WHEREAS, a variety of decorations were selected from two different vendors; and

WHEREAS, the City currently has $50,000 available to spend for the purchase of new decorations and an appropriation from the unassigned fund balance in the amount of $102,226 will be needed to cover the remaining balance.

NOW, THEREFORE THE CITY COUNCIL OF THE CITY OF LYNWOOD, CALIFORNIA DOES HEREBY FIND, DETERMINE, ORDER AND RESOLVE AS FOLLOWS:

Section 1. The City Council of the City of Lynwood hereby finds and declares that the foregoing recitals are true and correct, and incorporates them herein as findings and as a substantive part of this Resolution.

Section 2. The City Council of the City of Lynwood finds, by a vote of at least 4/5s of its members, that securing the purchase of these decorations via this informal bidding process is more economical and efficient than a formal bidding procedure.

Section 3. That the Lynwood City Council authorizes the City Manager move forward with the purchase of the new holiday decorations for the City and approve an appropriation from the unassigned fund balance in the amount of $102,226.

Section 4. Authorize the Mayor to execute an agreement in a form approved by the City Attorney for and on behalf of the City of Lynwood.

Section 5. Authorize the Mayor to execute the Resolution for and on behalf of the City of Lynwood.

Section 6. This Resolution shall take full force and effect immediately upon adoption by the City Council.

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PASSED, APPROVED, AND ADOPTED THIS 21st day of JUNE 2022.

_____________________________________
Jorge Casanova
Mayor

ATTEST:

Maria Quinonez,
City Clerk

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

____________________________ ____________________________ Noel A. Tapia, Ernie Hernandez,
City Attorney City Manager
City Council Regular Meeting - Page 663 of 788
Agenda Item # 26.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

John Yonai, Interim Director of Community Development
Erik Garcia, Business License Officer

SUBJECT:

APPROVAL OF SPECIAL PERMIT FOR MASSAGE THERAPY
Recommendation:

Staff recommends that the City Council:
1 .

Approve a Special Massage Therapy Permit for the operation of a massage therapy business at 10930 Long Beach Blvd, Unit 7, contingent upon the attached conditions shown in Attachment B. 2 .

Approve a Special Massage Technician Permit for Wenrong Zhang (CAMTC #89798) prospective owner of the massage therapy establishment and Jihua Lu (CAMTC #44533) contingent upon the attached conditions shown in Attachment C.

Background:

The City has received a Special Permit application from Wenrong Zhang for the operation of a massage therapy business at 10930 Long Beach Blvd, Unit 7. As part of the application, Wenrong Zhang has also requested a Special Permit for her partner, Jihua Lu (CAMTC #44533) who will also be administering massages at the establishment. According to Chapter 4 "Licensing and Business Regulations" of the Lynwood Municipal Code, there are a number of activities that require a “special permit” from the City Council before approval of the Special Permit application. Two of those activities are a massage parlor, which massage therapy would fall under, and massage technician. Both Wenrong Zhang and her partner, Jihua Lu, have been vetted by city staff and verified to be in possession of valid and active Licenses from the California Massage Therapy Council (CAMTC).

The CAMTC is the regulating agency for individual massage therapists and requires all therapists to complete a certain amount of training hours from accredited massage therapy schools in order to issue a license. CAMTC works with local governments and law enforcement to prevent “bad actors” from working in the industry.

Discussion and Analysis:

The City Council has the right to approve or deny a Special Permit application. If a Special Permit application is approved, the City Council has the right to impose reasonable restrictions or limitations to preserve public peace, City Council Regular Meeting - Page 664 of 788
safety/welfare, or which will tend to protect the life and property of others.

In reviewing the Special Permit applications submitted by Wenrong Zhang, all required documentation was provided to staff for both the massage parlor and massage technician. Staff is in support of the request provided all conditions under LMC Chapter 4-26 "Massage Parlors" and Chapter 4-27 "Massage Technician" are adhered to by the property owner and all required fees are paid prior to the issuance of a Business License.

The conditions of approval for the Special Massage Therapy Permit are attached hereto as Exhibit B while the conditions of approval for the Special Massage Technician Permit are attached hereto as Exhibit C.

Fiscal Impact:

None
Coordinated With:

City Manager's Office
City Attorney's Office
ATTACHMENTS:

Description
Resolution
Attachment A - Special Permit Application
Attachment B - Conditions of Approval/Massage Parlor
Attachment C - Conditions of Approval/Massage Technician City Council Regular Meeting - Page 665 of 788
RESOLUTION NO.

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD,

COUNTY OF LOS ANGELE S, STATE OF CALIFORN IA APPROVING A

SPECIAL MASSAGE THERAPY PERMIT FOR A MASSAGE THERAPY
BUSINESS AT 10930 LONG BEACH BLVD. UNIT 7 AND SPECIAL

MASSAGE TECHNICIAN PERMITS FOR WENRONG ZHANG AND

JIHUA LU

WHEREAS, a special permit application request has been made by the Wenrong Zhang to operate a massage therapy business located at 10930 Long Beach Blvd. Unit 7; and
WHEREAS, special ma ssage technician permit applications for Wenrong Zhang and Jijua Lu were received by the City; and

WHEREAS, the purpose is to provide massage therapy to clients; and

WHEREAS, the City Council has the right to impose conditions of approval designed to preserve public peace and safety/welfare.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY FIND, PROCLAIM, ORDER, AND RESOLVE AS FOLLOWS:

Section 1. The City Council approves the special permit to allow Wenrong Zhang (Applicant) to operate a massage therapy business in the city.

Section 2. The City Council approves the special massage technician permits for Wenrong Zhang and Jihua Lu.

Section 3. The City Council further finds that all City and County laws and regulations must be obeyed and complied with during all activities including but not limited to the following conditions:

1. Signs Required.
a. A recognizable and readable sign shall be posted at the main entrance identifying the establishment. Such sign shall comply with all requirements of all City ordinances.

2. Building Code Requirements.
a. Minimum lighting shall be provided in accordance with t he Building Code, and, in addition, at least one (1) artificial light of not less than forty (40) watts shall be provided in each enclosed room or booth where massage services are being performed on a patron.
b. Minimum ventilation shall be provided in accordance with the Building Code.

3. Cleanliness and Sanitation Requirements.

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a. Adequate equipment for disinfecting and sterilizing instruments used in performing the acts of massage shall be provided.
b. Hot and cold running water shall be provided at all times. c. Separate closed cabinets shall be provided for the storage of clean and soiled linen, and shall be plainly marked, “clean linen” and “soiled linen.” d. All walls, ceilings, floors, rooms, and all other physical facilities shall be in good repair.

4. Separate Room Requirements.

If massage services are rendered only to members of the same sex at any one (1) time, such persons of the same sex may be placed in a single separate room or the operators of the massage establishment may elect to place such persons of the same sex in separate enclosed rooms or booths having adequate ventilation to an area outside said room or booth while massage services are being performed.

5. Washbasins.

A minimum of one (1) separate washbasin shall be provided for the use of employees, which basin shall provide soap or detergent and hot and cold running water at all times and shall be located within or as close as practicable to the area devoted to the performing of massage services. In addition, there shall be provided at each washbasin, sanitary towels placed in permanently installed dispensers

6. Use of Alcohol or Drugs Prohibited on Premises.

A person shall not enter, be, or remain in any part of a massage parlor or premises licensed as such while in the possession of, consuming, or using any alcoholic beverage or drugs. The licensee, manager, and every supervising employee shall not permit any such person to enter or remain upon such premises.

7. Maintenance.
a. All walls, ceilings, floors, rooms, and all other physical facilities for the establishment shall be in good repair and maintained in a clean and sanitary condition.
b. Wet and dry heat rooms, steam or vapor rooms, or steam or vapor cabinets, shower compartments, and toilet rooms shall be thoroughly cleaned each day the business is in operation. Bathtubs shall be thoroughly cleaned after each use.
c. Clean and sanitary towels and linens shall be provided for each patron of the establishment or each patron receiving massage services. No common use of towels or linens shall be permitted.

8. Permit Required by Massage Technician.

Applicant shall not hire or employ a massage technician unless such mass age technician possesses a valid, subsisting permit required by Lynwood Municipal Code Chapter 4-27 “Massage Technician”.

City Council Regular Meeting - Page 667 of 788

9. Inspections
The City Manager, law enforcement, or their designees shall have the right to enter the business from time to time unannounced during the facility's hours of operation for the purpose of making reasonable inspections to observe and enforce compliance with the Lynwood Municipal Code or any state and/or federal law; to inspect and copy records required to be maintained; or to inspect, view, and copy recordings made by security cameras; all without requirement for a search warrant, subpoena, or court order.

10. Compliance.

The applicant must follow the listed conditions, the Lynwood Municipal Code, and all state and/or federal law(s) at all times.

11. Revocation.

The Special Permit may be revoked by the City Council at any time for noncompliance of the listed conditions, the Lynwood Municipal Code, or any state and/or federal law(s).

12. Business License Required.

Upon approval of a S pecial Permit, the applicant must obtain a business license from the City and pay the annual business license fee.

13. Permit Required by Massage Technician.

Applicant must comply at all times with the Lynwood Municipal Code Chapter 4-27 “Massage Technician”, as well as any state and/or federal law(s).

Section 4. This resolution shall be effective immediately upon its adoption.

Section 5. The City Clerk shall certify to the adoption of this resolution and hereafter the same shall be in full force and effect.

PASSED, APPROVED AND ADOPTED this 21st day of June 2022.

________________________________
Jorge Casanova, Mayor

ATTEST:

_______________________________
City Council Regular Meeting - Page 668 of 788
Maria Quinonez, City Clerk

APPROVED AS TO FORM APPROVED AT TO CONTENT

_______________________________ ________________________________ Noel Tapia, City Attorney Ernie Hernandez, City Manager City Council Regular Meeting - Page 669 of 788
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SPECIAL PERMIT
Massage Therapy
10930 Long Beach Blvd Unit 7
Lynwood, California 90262

CONDITIONS OF APPROVAL

1. Signs Required.

A recognizable and readable sign shall be posted at the main entrance identifying the establishment. Such sign shall comply with all requirements of all City ordinances.

2. Building Code Requirements.
a. Minimum lighting shall be provided in accordance with the Building Code, and, in addition, at least one (1) artificial light of not less than forty (40) watts shall be provided in each enclosed room or booth where massage services are being performed on a patron.
b. Minimum ventilation shall be provided in accordance with the Building Code.

3. Cleanliness and Sanitation Requirements.
a. Adequate equipment for disinfecting and sterilizing instruments used in performing the acts of massage shall be provided.
b. Hot and cold running water shall be provided at all times. c. Separate closed cabinets shall be provided for the storage of clean and soiled linen, and shall be plainly marked, “clean linen” and “soiled linen.” d. All walls, ceilings, floors, rooms, and all other physical facilities shall be in good repair.

4. Separate Room Requirements.

If massage services are rendered only to members of the same sex at any one (1 ) time, such persons of the same sex may be placed in a single separate room or the operators of the massage establishment may elect to place such persons of the same sex in separate enclosed rooms or booths having adequate ventilation to an area outside said room or booth while massage services are being performed.

5. Washbasins.

A minimum of one (1) separate washbasin shall be provided for the use of employees, which basin shall provide soap or detergent and hot and cold running water at all times and s hall be located within or as close as practicable to the area devoted to the performing of massage services. In addition, there shall be provided at each washbasin, sanitary towels placed in permanently installed dispensers

6. Use of Alcohol or Drugs Prohibited on Premises.

7. Maintenance.

City Council Regular Meeting - Page 678 of 788
a. All walls, ceilings, floors, rooms, and all other physical facilities for the establishment shall be in good repair and maintained in a clean and sanitary condition.
b. Wet and dry heat rooms, steam or vapor rooms, or steam or vapor cabinets, shower compartments, and toilet rooms shall be thoroughly cleaned each day the business is in operation. Bathtubs shall be thoroughly cleaned after each use. c. Clean and sanitary towels and linens shall be provided for each patron of the establishment or each patron receiving massage services. No common use of towels or linens shall be permitted.

8. Permit Required by Massage Technician.

Applicant shall not hire or employ a massage technician unless such massage technician possesses a valid, subsisting permit required by Lynwood Municipal Code Chapter 4-27 “Massage Technician”.

10. Compliance.

The applicant must follow the listed conditions, the Lynwood Municipal Code, and all state and/or federal law(s) at all times.

11. Revocation.

The Special Permit may be revoked by the City Council at any time for noncompliance of the listed conditions, the Lynwood Municipal Code, or any state and/or federal law(s).

12. Business License Required.

Upon approval of a Special Permit, the applicant must obtain a business license from the City and pay the annual business license fee.

___________________________________ ________________________ Wenrong Zhang, Applicant Date
City Council Regular Meeting - Page 679 of 788

SPECIAL PERMIT
Wenrong Zhang – Massage Technician
Jihua Lu – Massage Technician
3100 E. Imperial Highway, Unit B5
Lynwood, California 90262

CONDITIONS OF APPROVAL

1. Permit Required by Massage Technician.

Applicant must comply at all times with the Lynwood Municipal Code Chapter 4 -27 “Massage Technician”, as well as any state and/or federal law(s).

2. Revocation
The Special Permit may be revoked by the City Council at any time for noncompliance of the listed conditi ons, the Lynwood Municipal Code, or any state and/or federal law(s).

___________________________________ ________________________ Wenrong Zhang, Applicant Date

___________________________________ ________________________ Jihua Lu Date City Council Regular Meeting - Page 680 of 788
Agenda Item # 27.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Harry Wong, Director of Finance & Administration

SUBJECT:

AUTHORIZING THE ISSUANCE OF PENSION OBLIGATION BONDS TO

REFINANCE OUTSTANDING OBLIGATIONS OF THE CITY TO THE CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM
Recommendation:

Staff recommends that the City Council consider adoption of the attached Resolution No. ______ entitled, “A

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD AUTHORIZING THE ISSUANCE

OF PENSION OBLIGATION BONDS TO REFINANCE OUTSTANDING OBLIGATIONS OF THE CITY TO THE CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM”.

Background:

The City’s pension plans are managed under contract with CalPERS. The City’s annual pension payments to CalPERS consist of two components which include the Normal Cost, and UAL. The normal cost is the amount CalPERS charges the City, as a percentage of its payroll, that is estimated to annually fully fund a share of all future pension obligations. The UAL repayment portion is the amount that is charged to the City to repay the City’s estimated long-term UAL that is owed to CalPERS for past changes in benefits, underperforming CalPERS investment returns, and changes in the discount rate.

The UAL represents the difference between the amount necessary to pay actuarially determined future benefits already earned by current and former employees and the market value of the assets currently on deposit with CalPERS. The City’s UAL constitutes a debt that must be repaid to CalPERS and it is listed as a liability on the City’s Balance Sheet in accordance with the Governmental Accounting Standards Board requirements.

CalPERS currently charges the City 7.00% interest on this debt (scheduled to change to 6.80% for Fiscal Year ending June 30, 2024), and has a repayment structure that will result in a significant increase in annual pension costs over the coming years. As in many other cities in California, the growing obligations related to employee retirements represent a significant financial burden to the City.

CalPERS calculates the actuarial value of benefits owed to plan members and the market value of plan assets annually, but it takes them one year to publish results. Furthermore, CalPERS determines the UAL amortization schedules based on the projected future UAL balance at the end of the year in which results are published. This means that results based on a June 30, 2020 valuation date, which are released in July of 2021, project the UAL City Council Regular Meeting - Page 681 of 788
balance at June 30, 2022 to determined UAL amortization payments for Fiscal Year Ending June 30, 2023.

Therefore, UAL amortization payments for the Fiscal Year Ending June 30, 2023 (the upcoming Fiscal Year) are based on the City’s projected unfunded liabilities to CalPERS of $35,582,515 for the Miscellaneous Plan and $7,516,349 for the Safety Plan.

CalPERS’ investment returns for 2021-22 and demographic and other changes that are currently being calculated by CalPERS could further increase this amount.

Current taxable municipal bond rates are currently lower than the 7.00% (soon to be 6.80%) CalPERS is currently charging the City. By issuing its own obligations to finance the UAL (instead of continuing to make payments to CalPERS on its terms), the City may be able to realize substantial budgetary savings and better manage future pension costs. Under IRS regulations, obligations that are issued to finance a UAL must be issued at taxable (as opposed to tax-exempt) interest rates.

Staff is recommending that the City Council as part of the proposed resolution also authorize a judicial validation that, if successfully concluded, will authorize the City to issue its own Pension Obligation Bonds, without the need to use a lease/leaseback structure like the previously approved Lease Revenue Bonds. This way, if rates return to more attractive levels, the City will have multiple options to refinance the UAL and can proceed on the most advantageous path.

Discussion and Analysis:

Authorizing the issuance of the Bonds under an Indenture and the undertaking of the Validation Action (as described below) will create the opportunity for the City to enter the capital markets - after the successful conclusion of the Validation Action - and sell the Bonds if interest rates are within the range the City Council will set at a later date, either under the lease structure previously approved or as pension refunding bonds under the Indenture.

A judicial validation is a prerequisite to issuance under the Indenture in that the City needs assurance that the issuance of pension bonds refinances a debt imposed by law. A successful validation assures that fact and enables bond counsel to render the opinions needed to issue the bonds.

The attached Resolution puts the Finance Team in place to assist the City with the process of issuing the Bonds and authorizes the City to bring an action to validate the Pension Obligation and the Bonds, as described below.

However, Council will still need to approve a preliminary official statement, a bond purchase agreement, and a continuing disclosure undertaking at a later date.

The Resolution approves the attached form of Indenture, which is the document that sets forth the terms of the proposed Bonds, detailing the City’s obligation to make payments, how and when those payments are made, early prepayment provisions and various other attributes of the Bonds and their security structure. It is a draft document with more information to be added, primarily related to final interest rates and payment amounts, as the proposed Bonds are structured and ultimately sold. This document is a required component of the proposed Validation Action that is discussed below.

The Resolution also authorizes a validation action to be brought by the City under Section 860 of the California Code of Civil Procedure in connection with the Bonds. A validation action is a typical step with respect to the issuance of pension obligation bonds, whereby the City will be validating that the obligation under the Retirement Law is one imposed by law. Jones Hall, as the bond counsel has advised that a validation action is needed in order to ensure that the Bonds, if and when issued and delivered, will constitute valid and legally binding obligations of the City, pursuant to the Constitution of the State of California and the Retirement Law. The obligation of the City to pay the Bonds will not be limited as to payment from any special source of funds. In addition, prior to 1978 the City has annually set an ad valorem property tax rate to fund eligible retirement benefits.

Once the property tax rate is established for the fiscal year, the City reports the rate to the Los Angeles County Auditor-Controller to place the tax (the “Retirement Tax”) on the property tax roll of the County. The Retirement Tax rate is currently set $0.125 per one hundred dollars of assessed value. The Retirement Tax will be pledged as security for the Bonds issued pursuant to the Indenture.

City Council Regular Meeting - Page 682 of 788
Fiscal Impact:

Current projections indicate that refinancing the CalPERS UAL and thereby restructuring the currently front-loaded UAL amortization schedule to level payments could produce significant budget savings that average approximately $600,000 per year over the next 10 fiscal years, with the greatest savings of approximately $800,000 to occur in 2031 Fiscal Year. Net Present Value savings over the remaining life of the Bonds would be approximately $4.2 million, for an NPV% savings of 10%. It is generally considered advisable to proceed with a refinancing transaction when NPV savings amounts are greater than 3%.

In accordance with Government Code Section 5852.1, the following information has been obtained and disclosed to the City Council and Financing Authority prior to the issuance of the Bonds: (i) the estimated true interest cost of the Bonds (being the rate necessary to discount the amounts payable on the respective principal and interest payment dates to the purchase price received for the Bonds) is 4.7751%; (ii) the estimated finance charge of the Bonds (being the sum of all fees and charges paid to third parties, including a bond insurance premium) is $ 1,066,633; (iii) the estimated proceeds of the Bonds expected to be received, net of proceeds for finance charges in (ii) above to paid from the principal amount of the Bonds and any reserves or capitalized interest paid or funded with Bonds is $41,403,371, and (iv) the estimated total payment amount of the Bonds (being the sum of debt service plus finance to be paid to final maturity, plus any financing costs not paid from proceeds of the Bonds) is $
6 0,979,655.94. This information is based on good-faith estimates provided by the City’s municipal advisor and bond underwriter.

The foregoing is based on analysis done to date; however, the municipal bond market is experiencing high levels of volatility and ultimate expected savings will not be known until interest rates can be locked. Staff will work with its financial consultants to closely monitor the market in the coming months.

Coordinated With:

City Manager's Office
City Attorney
Kosmont Transactions Services, as Municipal Advisor
Jones Hall, as Bond Counsel
ATTACHMENTS:

Description
Attachment A - Resolution Authorizing POBs
Attachment B - Indenture of Trust Lynwood POBs
City Council Regular Meeting - Page 683 of 788
Jones Hall Draft of May 23, 2022

RESOLUTION NO. ____________________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD

AUTHORIZING THE ISSUANCE OF PENSION OBLIGATION BONDS

TO REFINANCE OUTSTANDING OBLIGATIONS OF THE CITY TO THE CALIFORNIA PUBLIC EMPLOYEES’ RETIREMENT SYSTEM

WHEREAS, the City is obligated by the Public Employees’ Retirement Law, commencing with Section 20000 of the Government Code of the State of California, as amended (the “Retirement Law”), to make payments relating to pension benefits accruing to the California Public Employees’ Retirement System’s (“CalPERS”) members, including the City; and

WHEREAS, the City is obligated specifically to make certain payments to CalPERS in respect of current and retired public safety employees and miscellaneous employees under the pension programs of CalPERS that amortize such obligations over a fixed period of time, including normal costs (collectively, the “CalPERS Obligation”); and

WHEREAS, the CalPERS Obligation is evidenced by a contract or contracts with CalPERS with respect to public safety employees and miscellaneous employees of the City, as heretofore and hereafter amended from time to time (collectively, the “CalPERS Contract”); and

WHEREAS, on April 9, 1946, the voters in the City approved a retirement tax to support amounts owed by the City to CalPERS pursuant to the CalPERS Contract (the “Pension Tax Override”), which Pension Tax Override is accounted for in a special fund, separate and apart from the General Fund, and available only for its authorized purposes; and

WHEREAS, the City is authorized under the provisions of Articles 10 and 11 of Chapter 3 of Part 1 of Division 2 of Title 5 of the California Government Code, commencing with Section 53570 of said Code (the “Bond Law”), to issue its bonds for the pu rpose of refunding certain outstanding obligations of the City, including the PERS Obligation;

WHEREAS, in order to refund the PERS Obligation and thereby realize interest savings, the City proposes at this time to authorize the issuance of its bonds und er the Bond Law for the purpose of refinancing the PERS Obligation in whole or in part;

WHEREAS, the City Council wishes at this time to authorize the issuance of such bonds and the institution of judicial proceedings to determine the validity thereof; and

WHEREAS, in order to comply with Government Code Section 5852.1, certain information relating to the proposed bonds is set forth in the staff report accompanying this Resolution, and such information is hereby disclosed and made public; and

NOW, THE REFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY FIND, PROCLAIM, ORDER AND RESOLVE AS FOLLOWS:

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2 Section 1. The City Council of the City of Lynwood hereby finds and declares that the foregoing recitals are true and correct, and incorporates them herein as findings and as a substantive part of this Resolution.

Section 2. The City Council hereby authorizes the issuance of one or more series of bonds by the City from time to time under the Bond Law for the purpose of financing the PERS Obligation in whole or in part (collectively, the “Bonds”); provided, however, that the aggregate principal amount of the Bonds shall not at the time of issuance of any such series of Bonds exceed the aggregate amount of the unfunded accrued actuarial liability represented by the PERS Obligation, as reported to the City by PERS, plus an amount required to pay all costs of issuing the Bonds (including underwriter’s discount and original issue discount, if any).

Section 3. Each series of Bonds shall be issued under an Indenture of Trust (the “Bond Indenture”) between the City and a national banking association as trustee to be determined prior to the sale of the Bonds as described in Section 4 below (the “Trustee”), in substantially the form on file with the City Clerk , together with any changes therein or additions thereto deemed advisable by the City Manager or the Finance Director (each, an “Authorized Officer”). The execution of a Bond Indenture by an Authorized Officer shall be conclusive evidence of the approval of any such changes or additions. The final form of each Bond Indenture shall be subject to approval by resolution of the City Council adopted following the conclusion of proceedings described in Section 3. The Bonds shall be subject to the following limitations:

(a) Each series of Bonds shall mature over a term not exceeding 30 years from the date of their original issuance.

(b) Interest on each series of Bonds will be calculated at a fixed rate, which shall not exceed the maximum rate of interest permitted by law.

(c) Principal of and interest and redemption premiums (if any) on the Bonds shall be payable from the General Fund of the City and from any other source of legally available funds of the City, including without limitation, the Pension Tax Ove rride.

The Bonds shall not constitute an obligation of the City for which the City is obligated to levy or pledge any form of taxation, except to the extent that the Pension Tax Override is specifically pledged to any series of Bonds.

(d) Proceeds of each series of Bonds, except to the extent required to pay the costs of issuing and underwriting such Bonds, shall be deposited with the Trustee or in a trust meeting the requirements of Section 115 of the Internal Revenue Code, as amended, or successor sections of such Code, and applied to discharge the PERS Obligation of the City in whole or in part.

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3 Section 4. The City Council hereby authorizes the filing of an action to determine the validity of the Bonds, the Bond Indentures and related matters in the Superior Court of Los Angeles County, under the provisions of Sections 860 et seq. of the Code of Civil Procedure of the State of California. The firm of Jones Hall, A Professional Law Corporation, as bond counsel to the City, is hereby directed, in concert with the City Attorney, to prepare and cause to be filed and prosecuted to completion all proceedings required for the judicial validation of the Bonds, the Bond Indentures and related matters.

Section 5. Upon successful completion of the validation action authorized under Section 3, City staff shall cause the following to be submitted to the City Council for final approval , as and to the extent applicable : ( a) an agreement for the purchase of one or more series of Bonds by a bond underwriter or private placement bank, (ii) to the extent a public offering of the Bonds is conducted, a Preliminary Official Statement relating to one or more series of Bonds, to be prepared by Jones Hall, A Professional Law Corporation, acting as disclosure counsel to the City, (iii) the final form of the Bond Indentures or other authorizing instruments , and (iv) such other agreements and documents as are necessary or convenient to implement the issuance, sale and delivery of a series of Bonds from time to time.

Section 6. Authorize the Mayor to execute the Resolution for and on behalf of the City of Lynwood.

Section 7. This Resolution shall take effect from and after the date of approval and adoption thereof.

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4 PASSED, APPROVED AND ADOPTED THIS 21st day of June 2022.

Jorge Casanova, Mayor

ATTEST:

Maria Quinonez, City Clerk

Ernie Hernandez, City Manager

APPROVED AS TO FORM:

Noel Tapia, City Attorney

APPROVED AS TO CONTENT:

Ernie Hernandez, City Manager

[Insert City Clerk certification page]

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Jones Hall Draft of May 26, 2022
INDENTURE OF TRUST Dated as of ____________ 1, 2022 between the CITY OF LYNWOOD and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee Relating to $________ City of Lynwood Taxable Pension Obligation Bonds, Series 2022 City Council Regular Meeting - Page 688 of 788

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TABLE OF CONTENTS ARTICLE I DEFINITIONS; RULES OF CONSTRUCTION SECTION 1.01. Definitions ................................................................................................. 2 SECTION 1.02. Authorization ............................................................................................. 2 SECTION 1.03. Interpretation ............................................................................................. 2 ARTICLE II AUTHORIZATION AND TERMS OF BONDS SECTION 2.01. Authorization and Purpose of Bonds ........................................................ 3 SECTION 2.02. Terms of the 2022 Bonds .......................................................................... 3 SECTION 2.03. Redemption of 2022 Bonds ...................................................................... 4 SECTION 2.04. Book Entry System .................................................................................... 6 SECTION 2.05. Form and Execution of 2022 Bonds .......................................................... 8 SECTION 2.06. Transfer and Exchange of Bonds ............................................................. 8 SECTION 2.07. Registration Books .................................................................................... 8 SECTION 2.08. Bonds Mutilated, Lost, Destroyed or Stolen .............................................. 9 ARTICLE III DEPOSIT AND APPLICATION OF PROCEEDS OF 2022 BONDS SECTION 3.01. Issuance of 2022 Bonds ........................................................................... 9 SECTION 3.02. Deposit and Application of Proceeds ........................................................ 9 SECTION 3.03. Costs of Issuance Fund .......................................................................... 10 SECTION 3.04. Issuance of Additional Bonds .................................................................. 10 SECTION 3.05. Validity of Bonds ..................................................................................... 11 ARTICLE IV SECURITY OF BONDS; FLOW OF FUNDS; INVESTMENTS SECTION 4.01. Security of Bonds; Equal Security ........................................................... 12 SECTION 4.02 Pension Tax Special Revenue Fund; Transfer of Pension Tax Override Revenues ................................................................................................. 12 SECTION 4.03. BondDebt Service Fund; Transfer of Amounts to Trustee ...................... 13 SECTION 4.04. Investment of Moneys in Funds .............................................................. 13 SECTION 4.05. Provisions Relating to 2022 Insured Bonds ............................................ 14 ARTICLE V OTHER COVENANTS OF THE CITY SECTION 5.01. Punctual Payment ................................................................................... 14 SECTION 5.02. Tax Override Levy ................................................................................... 14 SECTION 5.03. Budget and Appropriation of Debt Service; Certification to Trustee ....... 15 SECTION 5.04. Extension of Payment of Bonds .............................................................. 15 SECTION 5.05. Books and Accounts; Financial Statements; Additional Information ....... 15 SECTION 5.06. Continuing Disclosure ............................................................................. 15 SECTION 5.07. Protection of Security and Rights of Owners .......................................... 15 SECTION 5.08. Limitation on Additional Indebtedness .................................................... 16 SECTION 5.09. Further Assurances ................................................................................. 16 ARTICLE VI THE TRUSTEE SECTION 6.01. Duties, Immunities and Liabilities of Trustee .......................................... 16 SECTION 6.02. Merger or Consolidation .......................................................................... 17 City Council Regular Meeting - Page 689 of 788

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SECTION 6.03. Liability of Trustee ................................................................................... 18 SECTION 6.04. Right to Rely on Documents ................................................................... 19 SECTION 6.05. Preservation and Inspection of Documents ............................................ 20 SECTION 6.06. Compensation and Indemnification ......................................................... 20 SECTION 6.07. Accounting Records and Financial Statements ...................................... 20 ARTICLE VII MODIFICATION OR AMENDMENT OF THIS INDENTURE SECTION 7.01. Amendments Permitted ........................................................................... 21 SECTION 7.02. Effect of Supplemental Indenture ............................................................ 22 SECTION 7.03. Endorsement or Replacement of Bonds After Amendment .................... 22 SECTION 7.04. Amendment by Mutual Consent .............................................................. 22 SECTION 7.05. Trustee's Reliance .................................................................................. 22 ARTICLE VIII EVENTS OF DEFAULT AND REMEDIES SECTION 8.01. Events of Default ..................................................................................... 22 SECTION 8.02. Remedies on Default .............................................................................. 23 SECTION 8.03. Notice of Event of Default ....................................................................... 24 SECTION 8.04. Application of Funds Upon Event of Default ........................................... 24 SECTION 8.05. Power of Trustee to Control Proceedings ............................................... 24 SECTION 8.06. Limitation on Owners' Right to Sue ......................................................... 25 SECTION 8.07. Non-waiver .............................................................................................. 25 SECTION 8.08. Actions by Trustee as Attorney-in-Fact ................................................... 26 SECTION 8.09. Remedies Not Exclusive ......................................................................... 26 SECTION 8.10. Consent of the 2022 Insurer Upon Default ............................................. 26 ARTICLE IX MISCELLANEOUS SECTION 9.01. Benefits Limited to Partie 2022 Insurer ................................................... 26 SECTION 9.02. Successor is Deemed Included in All References to Predecessor ......... 26 SECTION 9.03. Defeasance of Bonds .............................................................................. 27 SECTION 9.04. Execution of Documents and Proof of Ownership by Owners ................ 28 SECTION 9.05. Disqualified Bonds .................................................................................. 28 SECTION 9.06. Waiver of Personal Liability ..................................................................... 28 SECTION 9.07. Destruction of Canceled Bonds .............................................................. 28 SECTION 9.08. Notices .................................................................................................... 28 SECTION 9.09. Partial Invalidity ....................................................................................... 29 SECTION 9.10. Unclaimed Moneys .................................................................................. 29 SECTION 9.11. Execution in Counterparts ....................................................................... 29 SECTION 9.12. Governing Law ........................................................................................ 29 SECTION 9.13. 2022 Insurer as Third Party Beneficiary .................................................. 29 APPENDIX A - DEFINITIONS APPENDIX B - FORM OF 2022 BONDS City Council Regular Meeting - Page 690 of 788
INDENTURE OF TRUST This INDENTURE OF TRUST (this “Indenture”) dated as of ____________ 1, 2022, is between the CITY OF LYNWOOD, a general law city and municipal corporation duly organized and existing under the laws of the State of California (the “City”), and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, a national banking association organized and existing under the laws of the United States of America, as trustee (the “Trustee”). BACKGROUND: 1. The City is obligated by the Public Employees’ Retirement Law, commencing with Section 20000 of the Government Code of the State of California, as amended (the “Retirement Law”), to make payments relating to pension benefits accruing to the California Public Employees’ Retirement System’s (“CalPERS”) members, including the City. 2. The City is obligated specifically to make certain payments to CalPERS in respect of current and retired public safety employees and miscellaneous employees under the pension programs of CalPERS that amortize such obligations over a fixed period of time, including normal costs (collectively, the “PERS Obligations”). 3. The PERS Obligations are evidenced by a contract or contracts with CalPERS with respect to public safety employees and miscellaneous employees of the City, as heretofore and hereafter amended from time to time (collectively, the “PERS Contracts”). 4. On April 9, 1946, the voters in the City approved a retirement tax to support amounts owed by the City to CalPERS pursuant to the PERS Contracts (the “Pension Tax Override”), which Pension Tax Override is accounted for in a special fund, separate and apart from the General Fund, available only for its authorized purposes, levied at the annual tax rate established by the City of $0.125 per $100 of assessed valuation, and permitted as an additional component of property taxation. 5. The City is authorized under the provisions of Articles 10 and 11 of Chapter 3 of Part 1 of Division 2 of Title 5 of the California Government Code, commencing with Section 53570 of said Code (the “Bond Law”), to issue its bonds for the purpose of refunding certain outstanding indebtedness of the City, including the PERS Obligations. 6. In order to refund the PERS Obligations and thereby realize cash flow savings in the current and immediately succeeding fiscal years, and to accomplish a more prudent amortization of its unfunded actuarial accrued liability in respect of the PERS Obligations, the City has determined to issue its $_________ aggregate principal amount of City of Lynwood Taxable Pension Obligation Bonds, Series 2022 (the “2022 Bonds”), under the Bond Law, this Indenture, and under a resolution adopted by the City Council of the City on June 7, 2022. 7. The 2022 Bonds shall be (i) secured by a lien and security interest in all right, title and interest of the City in and to Pension Tax Override Revenues (defined herein) and the funds and accounts provided for in this Indenture, and (ii) payable from any other source of legally available funds of the City, including amounts on deposit in the General Fund of the City. 8. The 2022 Bonds, any Additional Bonds or other obligations issued to refund the PERS contracts issued from time to time have been determined to be the legal, valid and City Council Regular Meeting - Page 691 of 788

2 binding obligations of the City by judgment of the Los Angeles County Superior Court rendered on ________, 2022, in City of Lynwood v. All Persons Interested, et. al., Case No. __________. 9. The City has determined that all acts and proceedings required by law necessary to make the Bonds, when executed by the City, authenticated and delivered by the Trustee and duly issued, the valid, binding and legal limited obligations of the City, and to constitute this Indenture a valid and binding agreement for the uses and purposes herein set forth in accordance with its terms, have been done or taken. AGREEMENT: In order to secure the payment of the principal of and the interest on all the Outstanding Bonds under this Indenture according to their tenor, and to secure the performance and observance of all the covenants and conditions therein and herein set forth, and to declare the terms and conditions upon and subject to which the Bonds are to be issued and received, and in consideration of the mutual covenants herein contained and of the purchase and acceptance of the Bonds by the Owners thereof, and for other valuable considerations, the receipt of which is hereby acknowledged, the City and the Trustee hereby covenant and agree with one another, for the benefit of the respective Owners from time to time of the Bonds, as follows: ARTICLE I DEFINITIONS; RULES OF CONSTRUCTION SECTION 1.01. Definitions. Unless the context clearly otherwise requires or unless otherwise defined herein, the capitalized terms defined in Appendix A attached to this Indenture have the respective meanings specified in Appendix A when used in this Indenture. SECTION 1.02. Authorization. Each of the parties represents and warrants that it has full legal authority and is duly empowered to enter into this Indenture, and has taken all actions necessary to authorize the execution hereof by the officers and persons signing it. SECTION 1.03. Interpretation. (a) Unless the context otherwise indicates, words expressed in the singular include the plural and vice versa and the use of the neuter, masculine, or feminine gender is for convenience only and include the neuter, masculine or feminine gender, as appropriate. (b) Headings of articles and sections herein and the table of contents hereof are solely for convenience of reference, do not constitute a part hereof and do not affect the meaning, construction or effect hereof. (c) All references herein to “Articles,” “Sections” and other subdivisions are to the corresponding Articles, Sections or subdivisions of this Indenture; the words “herein,” “hereof,” “hereby,” “hereunder” and other words of similar import refer to this Indenture as a whole and not to any particular Article, Section or subdivision hereof.

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3 ARTICLE II AUTHORIZATION AND TERMS OF BONDS SECTION 2.01. Authorization and Purpose of Bonds. (a) The City has reviewed all proceedings heretofore taken and has found, as a result of such review, and hereby finds and determines that all things, conditions and acts required by law to exist, happen or be performed precedent to and in connection with the issuance of the Bonds do exist, have happened and have been performed in due time, form and manner as required by law, and the City is now duly empowered, under each and every requirement of law, to issue the Bonds in the manner and form provided in this Indenture. (b) The City hereby authorizes the issuance of “City of Lynwood Taxable Pension Obligation Bonds, Series 2022” in the aggregate principal amount of $________, under the Authorizing Resolution and the Bond Law for the purpose of providing funds to refinance the PERS Obligations of the City as provided herein. In addition to the 2022 Bonds, Additional Bonds may be issued under this Indenture only if the provisions set for in Section 3.04 hereof are satisfied. SECTION 2.02. Terms of the 2022 Bonds. The 2022 Bonds shall be issued in fully registered form without coupons in denominations of $5,000 or any integral multiple thereof. The 2022 Bonds shall be dated as of the Closing Date and mature on January 1 in the years and in the principal amounts, and shall bear interest at the rates (calculated on the basis of a 360-day year comprised of twelve 30-day months) as set forth in the following table: Maturity Date (January 1) Principal Amount Interest Rate Interest on the 2022 Bonds is payable from the Interest Payment Date immediately preceding the date of authentication thereof unless: (a) a 2022 Bond is authenticated on or before an Interest Payment Date and after the close of business on the preceding Record Date, in which event it will bear interest from such Interest Payment Date, (b) a 2022 Bond is authenticated on or before the first Record Date, in which event interest thereon will be payable from the Closing Date, or City Council Regular Meeting - Page 693 of 788

4 (c) interest on a 2022 Bond is in default as of the date of authentication thereof, in which event interest thereon will be payable from the date to which interest has been paid in full, payable on each Interest Payment Date. Interest is payable on each Interest Payment Date to the persons in whose names the ownership of the 2022 Bonds is registered on the Registration Books at the close of business on the immediately preceding Record Date, except as provided below. Interest on a 2022 Bond which is not punctually paid or duly provided for on any Interest Payment Date is payable to the person in whose name the ownership of such 2022 Bond is registered on the Registration Books at the close of business on a special record date for the payment of such defaulted interest to be fixed by the Trustee, notice of which is given to such Owner by first-class mail not less than ten days prior to such special record date. The Trustee will pay interest on the 2022 Bonds by check of the Trustee mailed by first class mail, postage prepaid, on each Interest Payment Date to the Owners of the 2022 Bonds at their respective addresses shown on the Registration Books as of the close of business on the preceding Record Date. At the written request of the Owner of 2022 Bonds in an aggregate principal amount of at least $1,000,000, which written request is on file with the Trustee as of any Record Date, the Trustee will pay interest on such 2022 Bonds on each succeeding Interest Payment Date by wire transfer in immediately available funds to such account of a financial institution within the United States of America as specified in such written request, which written request will remain in effect until rescinded in writing by the Owner. The Trustee will pay principal of the 2022 Bonds in lawful money of the United States of America by check of the Trustee upon presentation and surrender thereof at the Office of the Trustee. The provisions of this Section are subject in all respects to the provisions contained in Section 2.04 with respect to the payment of the principal of and interest on the 2022 Bonds which are held in the book-entry system of DTC. SECTION 2.03. Redemption of 2022 Bonds. (a) Optional Redemption. The 2022 Bonds maturing on or before January 1, 20__, are not subject to redemption prior to their respective stated maturities. The 2022 Bonds maturing on or after January 1, 20__, are subject to redemption in whole, or in part among maturities on such basis as set forth in a Request of the City, and within a maturity on a pro rata basis among the Beneficial Owners of the 2022 Bonds of such maturity, at the option of the City, on any date on or after January 1, 20__, from any available source of funds, at a redemption price equal to the principal amount thereof to be redeemed together with accrued interest thereon to the redemption date, without premium. The City shall give the Trustee written notice of its intention to redeem 2022 Bonds under this subsection (a), and the manner of selecting such 2022 Bonds for redemption from among the maturities thereof at least 45 days prior to the date fixed for redemption. (b) Mandatory Sinking Fund Redemption. The 2022 Bonds maturing on January 1, 20__ and January 1, 20__ (collectively, the “Term 2022 Bonds”) are subject to mandatory redemption, within a maturity on a pro rata basis among the Beneficial Owners of such Term 2022 Bonds of such maturity, at a redemption price equal to 100% of the principal amount thereof to be redeemed, without premium, in the aggregate respective principal amounts and on January 1 in the respective years as set forth in the following tables.

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5 2022 Bonds Maturing January 1, 20__ Sinking Fund Redemption Date (January 1) Principal Amount To Be Redeemed (Maturity) 2022 Bonds Maturing January 1, 20__ Sinking Fund Redemption Date (January 1) Principal Amount To Be Redeemed (Maturity) If some but not all of a Term 2022 Bond has been redeemed under subsection (a), the total amount of all future sinking fund payments for such Term 2022 Bonds will be reduced by the aggregate principal amount of the Term 2022 Bond so redeemed, to be allocated among such sinking fund payments on a pro rata basis in integral multiples of $5,000 (as set forth in a schedule provided by the City to the Trustee) of such Term 2022 Bond. (c) Notice of Redemption. The Trustee on behalf and at the expense of the City will mail (by first class mail) notice of any redemption to the respective Owners of 2022 Bonds designated for redemption at their respective addresses appearing on the Registration Books, to the Securities Depositories and the Municipal Securities Rulemaking Board, at least 20 but not more than 60 days prior to the date fixed for redemption; provided, however, that neither failure to receive any such notice so mailed nor any defect therein will affect the validity of the proceedings for the redemption of such 2022 Bonds or the cessation of the accrual of interest thereon. Such notice must state the date of the notice, the redemption date, the redemption place and the redemption price and must designate the CUSIP numbers, the 2022 Bond numbers and the maturity or maturities (in the event of redemption of all of the 2022 Bonds of such maturity or maturities in whole) of the 2022 Bonds to be redeemed, and must require that such 2022 Bonds be then surrendered at the Office of the Trustee identified in such notice for redemption at the redemption price, giving notice also that further interest on such 2022 Bonds will not accrue from and after the redemption date. (d) Right to Rescind Notice of Optional Redemption. The City may rescind any notice of the optional redemption of 2022 Bonds under subsection (a) of this Section by written notice to the Trustee on or prior to the date fixed for redemption. Any notice of optional redemption will be cancelled and annulled if for any reason funds will not be or are not available on the date fixed for redemption for the payment in full of the 2022 Bonds then called for redemption, and such cancellation will not constitute an Event of Default. The City and the Trustee have no liability to the Owners or any other party related to or arising from such rescission of redemption. The Trustee will mail notice of such rescission of redemption in the same manner as the original notice of redemption was sent under subsection (c) of this Section.

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6 (e) Manner of Redemption. Whenever provision is made in this Section 2.03 for the redemption of less than all of the 2022 Bonds of a maturity, the Trustee shall select the 2022 Bonds of such maturity to be redeemed on a pro rata basis among the Beneficial Owners of the 2022 Bonds of such maturity. For purpose of such selection, all 2022 Bonds will be deemed to be comprised of separate $5,000 denominations and such separate denominations will be treated as separate 2022 Bonds which may be separately redeemed. So long as the 2022 Bonds are registered in book-entry-only form and so long as the Depository or a successor securities depository is the sole registered Owner of the 2022 Bonds, partial redemptions will be done in accordance with procedures of the Depository. It is the City’s intent that redemption allocations made by the Depository be made in accordance with the proportional provisions described herein. However, neither the City nor the Trustee has a duty to assure, and can provide no assurance, that DTC will allocate redemptions among Beneficial Owners on such a proportional basis, and neither the City nor the Trustee shall have any liability whatsoever to Beneficial Owners in the event redemptions are not done on a proportionate basis for any reason. The portion of any registered 2022 Bonds of a denomination of more than $5,000 to be redeemed will be in the principal amount of $5,000 or any integral multiple thereof. (f) Partial Redemption of 2022 Bonds. If only a portion of a 2022 Bond is called for redemption, then upon surrender of such 2022 Bond the City will execute and the Trustee shall authenticate and deliver to the Owner thereof, at the expense of the City, a new 2022 Bond or 2022 Bonds of the same series and maturity date, of authorized denominations in aggregate principal amount equal to the unredeemed portion of the 2022 Bond to be redeemed. (g) Effect of Redemption. From and after the date fixed for redemption, if notice of redemption has been duly mailed and funds available for the payment of the principal of and interest (and premium, if any) on the 2022 Bonds so called for redemption have been duly provided, such 2022 Bonds so called shall cease to be entitled to any benefit under this Indenture other than the right to receive payment of the redemption price, and no interest shall accrue thereon from and after the redemption date specified in such notice. Unless otherwise directed in writing by the City, the Trustee shall cancel and destroy all 2022 Bonds redeemed under this Section 2.03. SECTION 2.04. Book Entry System. (a) Original Delivery. The Bonds will be initially delivered in the form of a separate single fully registered bond (which may be typewritten) for each maturity of the Bonds. Upon initial delivery, the Trustee shall register the ownership of each Bond on the Registration Books in the name of the Nominee. Except as provided in subsection (c), the ownership of all of the Outstanding Bonds will be registered in the name of the Nominee on the Registration Books. With respect to Bonds the ownership of which is registered in the name of the Nominee, the City and the Trustee has no responsibility or obligation to any Depository System Participant or to any person on behalf of which the Nominee holds an interest in the Bonds. Without limiting the generality of the immediately preceding sentence, the City and the Trustee has no responsibility or obligation with respect to (i) the accuracy of the records of the Depository, the Nominee or any Depository System Participant with respect to any ownership interest in the Bonds, (ii) the delivery to any Depository System Participant or any other person, other than a Bond Owner as shown in the Registration Books, of any notice with respect to the Bonds, including any notice of redemption (iii) the selection by the Depository of the beneficial interests City Council Regular Meeting - Page 696 of 788

7 in the Bonds to be redeemed if the City elects to redeem the Bonds in part, (iv) the payment to any Depository System Participant or any other person, other than a Bond Owner as shown in the Registration Books, of any amount with respect to principal, premium, if any, or interest on the Bonds or (v) any consent given or other action taken by the Depository as Owner of the Bonds. The City and the Trustee may treat and consider the person in whose name each Bond is registered as the absolute owner of such Bond for the purpose of payment of principal of and premium, if any, and interest on such Bond, for the purpose of giving notices of redemption and other matters with respect to such Bond, for the purpose of registering transfers of ownership of such Bond, and for all other purposes whatsoever. The Trustee shall pay the principal of and the interest and premium, if any, on the Bonds only to the respective Owners or their respective attorneys duly authorized in writing, and all such payments will be valid and effective to fully satisfy and discharge all obligations with respect to payment of principal of and interest and premium, if any, on the Bonds to the extent of the sum or sums so paid. No person other than a Bond Owner shall receive a Bond evidencing the obligation of the City to make payments of principal, interest and premium, if any, under this Indenture. Upon delivery by the Depository to the City of written notice to the effect that the Depository has determined to substitute a new Nominee in its place, and subject to the provisions herein with respect to Record Dates, such new nominee will become the Nominee hereunder for all purposes; and upon receipt of such a notice the City will promptly deliver a copy of the same to the Trustee. (b) Representation Letter. In order to qualify the Bonds for the Depository’s book-entry system, the City will execute and deliver to such Depository a letter representing such matters as necessary to so qualify the Bonds. The execution and delivery of such letter shall not in any way limit the provisions of subsection (a) above or in any other way impose upon the City or the Trustee any obligation whatsoever with respect to persons having interests in the Bonds other than the Bond Owners. Upon the written acceptance by the Trustee, the Trustee shall agree to take all action reasonably necessary for all representations of the Trustee in such letter with respect to the Trustee to at all times be complied with. In addition to the execution and delivery of such letter, the City may take any other actions, not inconsistent with this Indenture, to qualify the Bonds for the Depository’s book-entry program. (c) Transfers Outside Book-Entry System. If either (i) the Depository determines not to continue to act as Depository for the Bonds, or (ii) the City determines to terminate the Depository as such, then the City will thereupon discontinue the book-entry system with such Depository. In such event, the Depository shall cooperate with the City and the Trustee in the issuance of replacement Bonds by providing the Trustee with a list showing the interests of the Depository System Participants in the Bonds, and by surrendering the Bonds, registered in the name of the Nominee, to the Trustee on or before the date such replacement Bonds are to be issued. The Depository, by accepting delivery of the Bonds, agrees to be bound by the provisions of this subsection (c). If, prior to the termination of the Depository acting as such, the City fails to identify another Securities Depository to replace the Depository, then the Bonds shall no longer be required to be registered in the Registration Books in the name of the Nominee, but shall be registered in whatever name or names the Owners transferring or exchanging Bonds shall designate, in accordance with the provisions hereof. If the City determines that it is in the best interests of the beneficial owners of the Bonds that they be able to obtain certificated Bonds, the City may notify the Depository System Participants of the availability of such certificated Bonds through the Depository. In such event, the Trustee will issue, transfer and exchange Bonds as required by the Depository and others in appropriate amounts; and whenever the Depository requests, the Trustee and the City will cooperate with the Depository in taking appropriate action (a) to make available one or more City Council Regular Meeting - Page 697 of 788

8 separate certificates evidencing the Bonds to any Depository System Participant having Bonds credited to its account with the Depository, or (b) to arrange for another Securities Depository to maintain custody of a single certificate evidencing such Bonds, all at the City’s expense. (d) Payments to the Nominee. Notwithstanding any other provision of this Indenture to the contrary, so long as a Bond is registered in the name of the Nominee, all payments with respect to principal of and interest and premium, if any, on that Bond and all notices with respect to that Bond shall be made and given, respectively, as provided in the letter described in subsection (b) of this Section or as otherwise instructed by the Depository. SECTION 2.05. Form and Execution of 2022 Bonds. The 2022 Bonds, the form of Trustee’s certificate of authentication, and the form of assignment to appear thereon, are set forth in Appendix B attached hereto and by this reference incorporated herein, with necessary or appropriate variations, omissions and insertions, as permitted or required by this Indenture. The Mayor, City Treasurer, City Manager or Finance Director shall execute, and the City Clerk of the City shall attest each 2022 Bond. Any or all of such signatures may be made manually or may be affixed by facsimile thereof. If any officer whose signature appears on a 2022 Bond ceases to be such officer before the Closing Date, such signature will nevertheless be as effective as if the officer had remained in office until the Closing Date. Any 2022 Bond may be signed and attested on behalf of the City by such persons as at the actual date of the execution of that Bond are the proper officers of the City, duly authorized to execute debt instruments on behalf of the City, although on the date of that 2022 Bond any such person was not an officer of the City. Only those 2022 Bonds bearing a certificate of authentication in the form set forth in Appendix B, manually executed and dated by the Trustee, are valid or obligatory for any purpose or entitled to the benefits of this Indenture, and such certificate of the Trustee is conclusive evidence that such 2022 Bonds have been duly authenticated and delivered hereunder and are entitled to the benefits of this Indenture. SECTION 2.06. Transfer and Exchange of Bonds. (a) Transfer. Any Bond may, in accordance with its terms, be transferred, upon the Registration Books, by the person in whose name it is registered, in person or by a duly authorized attorney of such person, upon surrender of such Bond to the Trustee at its Office for cancellation, accompanied by delivery of a written instrument of transfer in a form acceptable to the Trustee, duly executed. The Trustee shall collect any tax or other governmental charge on the transfer of any Bonds under this Section. Whenever any Bond or Bonds are surrendered for transfer, the City will execute and the Trustee shall authenticate and deliver to the transferee a new Bond or Bonds of like series, interest rate, maturity and aggregate principal amount. The City will pay the cost of printing Bonds and any services rendered or expenses incurred by the Trustee in connection with any transfer of Bonds. (b) Exchange. The Bonds may be exchanged at the Office of the Trustee for a like aggregate principal amount of Bonds of other authorized denominations and of the same series, interest rate and maturity. The Trustee shall collect any tax or other governmental charge on the exchange of Bonds under this subsection. The City will pay the cost of printing Bonds and any services rendered or expenses incurred by the Trustee in connection with any exchange of Bonds. SECTION 2.07. Registration Books. The Trustee will keep or cause to be kept, at its Office, sufficient records for the registration and registration of transfer of the Bonds, which shall at all City Council Regular Meeting - Page 698 of 788

9 times during normal business hours, and upon reasonable notice, be open to inspection by the City. The Trustee will register the ownership and transfer of the Bonds on the Registration Books under such reasonable regulations as it may prescribe. SECTION 2.08. Bonds Mutilated, Lost, Destroyed or Stolen. If a Bond is mutilated, the City, at the expense of the Owner of that Bond, shall execute, and the Trustee shall thereupon authenticate and deliver, a new Bond of like tenor in exchange and substitution for the Bond so mutilated, upon surrender to the Trustee of the Bond so mutilated. The Trustee shall cancel every mutilated Bond surrendered to it and deliver such mutilated Bond to or upon the order of the City. If a Bond is lost, destroyed or stolen, evidence of such loss, destruction or theft may be submitted to the Trustee and, if such evidence is satisfactory to the Trustee and if indemnity satisfactory to the Trustee is given, the City, at the expense of the Owner, will execute, and the Trustee will thereupon authenticate and deliver, a new Bond of like tenor in lieu of and in substitution for the Bond so lost, destroyed or stolen. The Trustee may require payment of a sum not exceeding the actual cost of preparing each new Bond issued under this Section and of the expenses which may be incurred by the Trustee in connection therewith. Any Bond issued under the provisions of this Section in lieu of any Bond alleged to be lost, destroyed or stolen will constitute an original additional contractual obligation on the part of the City whether or not the Bond so alleged to be lost, destroyed or stolen be at any time enforceable by anyone, and are equally and proportionately entitled to the benefits of this Indenture with all other Bonds issued under this Indenture. Notwithstanding any other provision of this Section, in lieu of delivering a new Bond for which principal has become due for a Bond which has been mutilated, lost, destroyed or stolen, the Trustee may make payment of such Bond in accordance with its terms upon receipt of indemnity satisfactory to the Trustee. ARTICLE III DEPOSIT AND APPLICATION OF PROCEEDS OF 2022 BONDS SECTION 3.01. Issuance of 2022 Bonds. Upon the execution and delivery of this Indenture, the City shall execute and deliver 2022 Bonds in the aggregate principal amount of $__________ to the Trustee and the Trustee shall authenticate and deliver the 2022 Bonds to the Original Purchaser upon receipt of a Request of the City therefor. SECTION 3.02. Deposit and Application of Proceeds. Upon receipt of the proceeds of the 2022 Bonds on the Closing Date in the amount of $_________ (which is equal to the original principal amount of the 2022 Bonds $________, less an underwriter’s discount of $_________, and less $______ paid by the Original Purchaser directly to the 2022 Insurer), the Trustee shall deposit such proceeds into a special account to be held by the Trustee and known as the 2022 Subaccount of the Bond Proceeds Account each of which the Trustee shall establish and hold in trust hereunder, to be applied on the Closing Date as follows: (i) The Trustee shall deposit the amount of $_________ in the Costs of Issuance Fund. (ii) The Trustee shall apply the amount of $_________ to the satisfaction of the City’s obligations under the PERS Contracts by effecting a wire transfer of such proceeds to PERS, in accordance with a Request of the City.

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10 After making the deposits and transfers described in this Section 3.02, the Trustee shall close the Bond Proceeds Account and the subaccounts therein. SECTION 3.03. Costs of Issuance Fund. There is hereby established a separate fund to be known as the “Costs of Issuance Fund,” to be held by the Trustee. The Trustee shall disburse moneys in the Costs of Issuance Fund from time to time to pay Costs of Issuance upon submission of a Request of the City stating (a) the person to whom payment is to be made, (b) the amounts to be paid, (c) the purpose for which the obligation was incurred, (d) that such payment is a proper charge against the Costs of Issuance Fund, and (e) that such amounts have not been the subject of a prior Request of the City; in each case together with a statement or invoice for each amount requested thereunder. On a date 90 days following the Closing Date, the Trustee shall transfer any amounts remaining in the Costs of Issuance Fund to the Interest Account and the Trustee shall thereupon close the Costs of Issuance Fund. SECTION 3.04. Issuance of Additional Bonds. The City may issue Additional Bonds under this Indenture for the purpose of (i) satisfying any obligation to make payments pursuant to the Retirement Law relating to pension benefits accruing to the City employees who are PERS members, and for payment of all costs incidental to or connected with the issuance of Additional Bonds for such purposes, and/or (ii) the purpose of refunding any Bonds then Outstanding, including payment of all costs incidental to or connected with such refunding, at any time so long as the City shall be in compliance with all agreement and covenants contained in this Indenture, subject to the following specific conditions, which are made conditions precedent to the issuance of any such Additional Bonds: (i) The City shall be in compliance with all agreement and covenants contained in this Indenture; (ii) The issuance of such Additional Bonds shall have been authorized pursuant the Bond Law and shall have been provided for by a Supplemental Indenture which shall specify the following: (1) The purpose for which such Additional Bonds are to be issued; provided that the proceeds of such Additional Bonds shall be applied solely for (A) satisfying any obligation to make payments pursuant to the Retirement Law relating to pension benefits accruing to the City employees who are PERS members, and for payment of all costs incidental to or connected with the issuance of Additional Bonds for such purposes, and/or (B) refunding any obligations described in clause (A) then Outstanding, including payment of all costs incidental to or connected with such refunding; (2) The authorized principal amount and designation of such Additional Bonds; (4) The Additional Bonds shall be payable on January 1 and July 1 of each year, and principal shall be payable on January 1 in any year in which such principal is payable; [(5) For the Fiscal Year preceding the issuance of such Additional Bonds, Pension Tax Override Revenues (assuming the Pension Tax Override is levied at the maximum rate permitted under applicable law) would have been at least equal to _____% of the maximum annual debt service on (i) the Outstanding City Council Regular Meeting - Page 700 of 788

11 2022 Bonds, (ii) any Additional Bonds, including the Additional Bonds to be issued, and (iii) any Parity Pension Override Obligations payable from the Pension Tax Override Revenues on a parity with Bonds issued hereunder;] and (6) The City shall deliver to the Trustee a Certificate of the City certifying that the conditions precedent to the issuance of such Additional Bonds set forth above have been satisfied. SECTION 3.05. Issuance of Future Pension Override Bonds. (a) The City may issue additional bonds or other obligations secured by the Pension Tax Override Revenues, but only subject to the following specific conditions, which are made conditions precedent to the issuance of any such Parity Pension Override Obligations: (i) The proceeds of such Parity Pension Override Obligations shall be applied solely for (A) satisfying any obligation to make payments pursuant to the Retirement Law relating to pension benefits accruing to the City employees who are PERS members, and for payment of all costs incidental to or connected with the issuance of Additional Bonds for such purposes, and/or (B) refunding any obligations described in clause (A) then Outstanding, including payment of all costs incidental to or connected with such refunding; (ii) The Parity Pension Override Obligations shall be payable on January 1 and July 1 of each year, and principal shall be payable on January 1 in any year in which such principal is payable; and (iii) For the Fiscal Year preceding the issuance of such Parity Pension Override Obligations, Pension Tax Override Revenues (assuming the Pension Tax Override is levied at the maximum rate permitted under applicable law) would have been at least equal to 1.20 times (A) _____% of the maximum annual debt service on the 2022 Bonds and any Additional Bonds issued hereunder, plus (B) the maximum annual debt service on (i) the Parity Pension Override Obligations outstanding and to be issued, to the extent secured by the Pension Tax Override Revenues, and (ii) any other obligations then outstanding, to the extent secured by the Pension Tax Override Revenues. (b) BondNo restriction is imposed by this Indenture on the maximum principal amount of Additional Bonds that may be issued hereunder. No term or provision of this Indenture shall prevent the City from issuing general obligation bonds or other indebtedness or liabilities payable from the general revenues, or any special source of revenues, of the City under any other document. SECTION 3.05. Validity of Bonds. The validity of the authorization and issuance of the Bonds is not dependent upon the expenditure of the proceeds thereof to pay PERS Obligations, or upon the performance by any person of its obligation with respect to the PERS Obligations.

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12 ARTICLE IV SECURITY OF BONDS; FLOW OF FUNDS; INVESTMENTS SECTION 4.01. Security of Bonds; Equal Security. (a) The obligations of the City under the Bonds, including the obligation to make all payments of principal of and interest on the Bonds when due and the obligation of the City to make the deposits required hereunder for the security of the Bonds, are obligations of the City imposed by law and are absolute and unconditional, without any right of set-off or counterclaim. The City agrees to pay from any legally available source of revenues of the City, including amounts on deposit in the General Fund of the City, and, to the extent permitted under Section 4.02 and applicable law, Pension Tax Override Revenues, all amounts due and owing with respect to Bonds issued under this Indenture and all Supplemental Indentures executed pursuant to this Indenture according to the provisions for such agreements, including principal and interest thereon and the redemption price thereof. (b) Without limiting the generality of Section 4.01(a), the 2022 Bonds and Additional Bonds shall be equally secured by a pledge of, security interest in and first lien on all Pension Tax Override Revenues and all amounts (exclusive of investment earnings thereon) held from time to time to the credit of the Pension Tax Special Revenue Fund, as and to the extent provided in this Indenture, and the 2022 Bonds and any Additional Bonds shall also be secured by a first and exclusive pledge of, security interest in and lien upon all of the moneys in the Debt Service Fund, the Interest Account, and the Principal Account. Except for the Pension Tax Override Revenues, and such accounts, no funds or properties of the City shall be pledged to the payment of principal of or interest or redemption premium (if any) on the Bonds. Except as set forth in Section 5.02 with respect to the levy of the Pension Tax Override with respect to the Bonds, the Bonds do not constitute an obligation of the City for which the City is obligated to levy or pledge any form of taxation. Neither the Bonds nor the obligations of the City to make payments on the Bonds constitute an indebtedness of the City, the State of California, or any of its political subdivisions within the meaning of any constitutional or statutory debt limitation or restriction. (c) In consideration of the acceptance of the Bonds by those who hold the same from time to time, this Indenture constitutes a contract between the City and the Owners from time to time of the Bonds, and the covenants and agreements herein set forth to be performed on behalf of the City are for the equal and proportionate benefit, security and protection of all Owners of the Bonds without preference, priority or distinction as to security or otherwise of any of the Bonds over any of the others by reason of the number or date thereof or the time of sale, execution and delivery thereof, or otherwise for any cause whatsoever, except as expressly provided therein or herein. SECTION 4.02. Pension Tax Special Revenue Fund; Transfer of Pension Tax Override Revenues. The City has established the Pension Tax Special Revenue Fund, which is held by the City. The City shall deposit all of the Pension Tax Override Revenues received with respect to any Fiscal Year into the Pension Tax Special Revenue Fund promptly upon receipt thereof by the City until such time during such Fiscal Year as the amounts on deposit in Pension Tax Special City Council Regular Meeting - Page 702 of 788

13 Revenue Fund, when aggregated with the other amounts legally available to the City and on hand, and amounts budgeted by the City in such Fiscal Year and expected to available to pay principal of and interest on and the redemption price of the 2022 Bonds in such Fiscal Year, equal the aggregate amounts required to pay principal of and interest on and the redemption price of the 2022 Bonds in such Fiscal Year. All Pension Tax Override Revenues received by the City during any Fiscal Year in excess of the amounts required to be deposited as described in the preceding paragraph shall be released from the pledge, security interest and lien under this Indenture for security of the Bonds and may be applied by the City for any lawful purpose of the CityBond. SECTION 4.03. BondDebt Service Fund; Transfer of Amounts to Trustee. There is hereby established a separate fund to be known as the “BondDebt Service Fund” which shall be held by the Trustee in trust for the benefit of the Bond Owners. The Trustee will hold the BondDebt Service Fund for the uses and purposes set forth herein, so long as any of the Bonds remain Outstanding. The City will transfer an amount of its legally available funds, including amounts in the Pension Tax Special Revenue Fund, to the Trustee in the following amounts at the following times, for deposit by the Trustee in the following respective special accounts within the BondDebt Service Fund, which accounts are hereby established with the Trustee with respect to the Bonds, in the following order of priority: (a) BondInterest Account. On or before the 3rd Business Day preceding each date on which interest on the Bonds is due and payable, the City will transfer to the Trustee for deposit in the BondInterest Account an amount which, when added to the amount then on deposit in the BondInterest Account, equals the aggregate amount of the interest coming due and payable on the Outstanding Bonds on that date. The Trustee will apply amounts in the BondInterest Account solely for the purpose of paying the interest on the Bonds when due and payable. (b) BondPrincipal Account. On or before the 3rd Business Day preceding each date on which principal of the Bonds is due and payable at maturity or upon mandatory sinking fund redemption, the City will transfer to the Trustee for deposit in the BondPrincipal Account an amount which, when added to the amount then on deposit in the BondPrincipal Account, equals the amount of principal coming due and payable on that date on the Outstanding Bonds, including the principal amount of the Term Bonds issued as Bonds which are subject to mandatory sinking fund redemption on that date under Section 2.03(b). The Trustee will apply amounts in the BondPrincipal Account solely for the purpose of paying the principal of the Bonds at the maturity thereof and the principal of the Bonds that are Term Bonds upon the mandatory sinking fund redemption thereof. SECTION 4.04. Investment of Moneys in Funds. The Trustee shall invest moneys in the funds and accounts established and held by it hereunder in Permitted Investments specified in the Request of the City (which Request will be deemed to include a certification that the specified investment is a Permitted Investment) delivered to the Trustee at least two Business Days in advance of the making of such investments. In the absence of any direction from the City concerning the investment of amounts held by the Trustee hereunder, the Trustee shall invest any such amounts solely in Permitted Investments described in clause (f) of the definition thereof.

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14 The City shall ensure that all Permitted Investments mature not later than the date on which the funds invested therein are required to be expended. Obligations purchased as an investment of moneys in any fund or account will be deemed to be part of such fund or account. Whenever in this Indenture the City is required to transfer any moneys to the Trustee, such transfer may be accomplished by transferring a like amount of Permitted Investments. All interest or gain derived from the investment of amounts in any of the funds or accounts held by the Trustee hereunder will be retained in the respective fund or account from which such investment was made. The Trustee or an affiliate may act as principal or agent in the acquisition or disposition of any investment and may impose its customary charges therefor. The Trustee shall incur no liability for losses arising from any investments made under this Section. The Trustee shall furnish the City periodic cash transaction statements which include detail for all investment transactions effected by the Trustee or brokers selected by the City. Upon the City’s election, such statements will be delivered via the Trustee’s online service and upon electing such service, paper statements will be provided only upon request. The City waives the right to receive brokerage confirmations of security transactions effected by the Trustee as they occur, to the extent permitted by law. The City further understands that trade confirmations for securities transactions effected by the Trustee will be available upon request and at no additional cost and other trade confirmations may be obtained from the applicable broker. The Trustee or any of its affiliates may act as sponsor, advisor or manager in connection with any investments made by the Trustee hereunder. SECTION 4.05. Provisions Relating to 2022 Insured Bonds. [To come, if applicable.] ARTICLE V OTHER COVENANTS OF THE CITY SECTION 5.01. Punctual Payment. The City shall from any legally available source of revenues of the City, including amounts on deposit in the General Fund of the City, and as to the extent provided in this Indenture, Pension Tax Override Revenues, to punctually pay or cause to be paid the principal, premium (if any) and interest to become due in respect of all the Bonds in strict conformity with the terms of this Indenture. The City shall faithfully observe and perform all of the conditions, covenants and requirements of this Indenture and all Supplemental Indentures. SECTION 5.02. Pension Tax Override Levy. The City covenants that, so long as any Bonds are outstanding under this Indenture, the City shall levy the Pension Tax Override (in an amount not to exceed the maximum tax permitted by law) in each Fiscal Year, whether or not the accrued unfunded actuarial liability of the City to PERS is amortized prior to the final maturity of any Bond issued pursuant to this Indenture, in amounts that the City expects will be sufficient, when aggregated with the other amounts legally available to the City and on hand, and amounts budgeted by the City in such Fiscal Year and expected to be available, to pay principal of and interest on and redemption price, if any, of the Bonds. The Pension Tax Override Revenues may not be applied to pay principal and interest and the redemption price, if any, of Bonds issued to pay obligations of the City to PERS other than (i) Bonds issued hereunder, including Additional Bonds, or (iii) Additional Pension Tax Bonds.

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15 SECTION 5.03. Budget and Appropriation of Debt Service; Certification to Trustee. The City covenants to take such action as may be necessary to include in each of its annual budgets the payments required to be made by the City under Section 4.03, and to make the necessary annual appropriations for all such payments. If any payment of Debt Service requires the adoption by the City of a supplemental budget or appropriation, the City will promptly adopt the same. The covenants on the part of the City herein contained constitute duties imposed by law and it is the duty of each and every public official of the City to take such action and do such things as are required by law in the performance of the official duty of such officials to enable the City to carry out and perform the covenants and agreements in this Indenture agreed to be carried out and performed by the City. The City will not assign or pledge Pension Tax Override Revenues or other amounts under this Indenture except as provided under the terms hereof. SECTION 5.04. Extension of Payment of Bonds. The City shall not directly or indirectly extend or assent to the extension of the maturity of any of the Bonds or the time of payment of any claims for interest by the purchase of such Bonds or by any other arrangement, and if the maturity of any of the Bonds or the time of payment of any such claims for interest is extended, such Bonds or claims for interest are not entitled, in case of any default hereunder, to the benefits of this Indenture, except subject to the prior payment in full of the principal of all of the Outstanding Bonds and of all claims for interest thereon which have not been so extended. Nothing in this Section limits the right of the City to issue bonds for the purpose of refunding any Outstanding Bonds, and such issuance does not constitute an extension of maturity of the Bonds. SECTION 5.05. Books and Accounts; Financial Statements; Additional Information. The City will keep, or cause to be kept, proper books of record and accounts, separate from all other records and accounts of the City, including books and records showing all Pension Tax Override Revenues. Such books of record and accounts shall at all times during business hours be subject, upon prior written request, to the reasonable inspection of the Trustee (who has no duty to inspect), or the Owners of not less than 10% in aggregate principal amount of the Bonds then Outstanding, or their representatives authorized in writing. The City will cause to be prepared annually, within nine months after the close of each Fiscal Year so long as any of the Bonds are Outstanding, complete audited financial statements with respect to such Fiscal Year, as of the end of such Fiscal Year; provided that if audited financial statements are not available within such nine-month period, the City shall file unaudited financial statements within such nine-month period and shall file audited financial statements when they subsequently become available. The City will furnish a copy of such statements, upon reasonable request, to the Trustee and any Bond Owner. The Trustee has no duty to review any such financial statement. SECTION 5.06. Continuing Disclosure. The City will comply with and carry out all of the provisions of the Continuing Disclosure Certificate. Notwithstanding any other provision hereof, failure of the City to comply with the Continuing Disclosure Certificate does not constitute an Event of Default hereunder; provided, however, that any Participating Underwriter (as such term is defined in the Continuing Disclosure Certificate) or any Owner or beneficial owner of the Bonds may take such actions as may be necessary and appropriate, including seeking specific performance by court order, to cause the City to comply with its obligations under this Section. SECTION 5.07. Protection of Security and Rights of Owners. The City shall preserve and protect the security of the Bonds and the rights of the Owners. From and after the date of issuance of the Bonds, the City shall not contest the validity or enforceability of the Bonds or this Indenture.

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16 SECTION 5.08. Limitation on Additional Indebtedness. The City hereby covenants that, so long as the 2022 Bonds or any other Bonds are Outstanding, the City shall not issue any bonds, notes or other obligations, enter into any agreement or otherwise incur any indebtedness (collectively, “Indebtedness”), which is in any case payable from all or any part of the Pension Tax Override Revenues except as permitted under Section 3.04 and 3.05.Bond, and Indebtedness secured by a pledge of or lien upon the Pension Tax Override Revenues which is expressly subordinate to the pledge of and lien upon the Pension Tax Override Revenues hereunder for the security of the 2022 Bonds. Except as otherwise provided herein, the City will not encumber, pledge or place any charge or lien upon any of the Pension Tax Override Revenues or other amounts pledged to the 2022 Bonds superior or equal to the pledge and lien herein created for the benefit of the 2022 Bonds. SECTION 5.09. Further Assurances. The City shall adopt, make, execute and deliver any and all such further resolutions, instruments and assurances as may be reasonably necessary or proper to carry out the intention or to facilitate the performance of this Indenture, and for the better assuring and confirming unto the Bond Owners the rights and benefits provided in this Indenture. ARTICLE VI THE TRUSTEE SECTION 6.01. Duties, Immunities and Liabilities of Trustee. (a) The Trustee shall, prior to the occurrence of an Event of Default, and after the curing or waiving of all Events of Default which may have occurred, perform such duties and only such duties as are specifically set forth in this Indenture and no implied covenants or duties will be read into this Indenture against the Trustee. The Trustee shall, during the existence of any Event of Default (which has not been cured or waived), exercise such of the rights and powers vested in it by this Indenture, and use the same degree of care and skill in their exercise, as a reasonable corporate trustee would exercise or use. (b) The City may remove the Trustee at any time, and shall remove the Trustee (i) if at any time requested to do so by an instrument or concurrent instruments in writing signed by the Owners of not less than a majority in aggregate principal amount of the Bonds then Outstanding (or their attorneys duly authorized in writing) or (ii) if at any time (A) the Trustee ceases to be eligible in accordance with subsection (e) of this Section, (B) becomes incapable of acting, (C) is adjudged a bankrupt or insolvent, (D) a receiver of the Trustee or its property is appointed, or (E) any public officer takes control or charge of the Trustee or of its property or affairs for the purpose of rehabilitation, conservation or liquidation. The City may accomplish such removal by giving 30 days written notice to the Trustee, whereupon the City will appoint a successor Trustee by an instrument in writing. (c) The Trustee may at any time resign by giving written notice of such resignation to the City, and by giving notice of such resignation by first class mail, postage prepaid, to the Bond Owners at their respective addresses shown on the Registration Books. Upon receiving such notice of resignation, the City will promptly appoint a successor Trustee by an instrument in writing.

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17 (d) Any removal or resignation of the Trustee and appointment of a successor Trustee becomes effective upon acceptance of appointment by the successor Trustee. If no successor Trustee has been appointed and accepted appointment within 45 days following giving notice of removal or notice of resignation as aforesaid, the resigning Trustee, at the expense of the City, or any Owner (on behalf of such Owner and all other Owners) may petition any federal or state court for the appointment of a successor Trustee, and such court may thereupon, after such notice (if any) as it may deem proper, appoint such successor Trustee. Any successor Trustee appointed under this Indenture shall signify its acceptance of such appointment by executing and delivering to the City and to its predecessor Trustee a written acceptance thereof, and to the predecessor Trustee an instrument indemnifying the predecessor Trustee for any costs or claims arising during the time the successor Trustee serves as Trustee hereunder, and such successor Trustee, without any further act, deed or conveyance, shall become vested with all the moneys, estates, properties, rights, powers, trusts, duties and obligations of such predecessor Trustee, with like effect as if originally named Trustee herein; but, nevertheless, upon the receipt by the predecessor Trustee of the Request of the City or the request of the successor Trustee, such predecessor Trustee shall execute and deliver any and all instruments of conveyance or further assurance and do such other things as may reasonably be required for more fully and certainly vesting in and confirming to such successor Trustee all the right, title and interest of such predecessor Trustee in and to any property held by it under this Indenture and shall pay over, transfer, assign and deliver to the successor Trustee any money or other property subject to the trusts and conditions herein set forth. Upon request of the successor Trustee, the City will execute and deliver any and all instruments as may be reasonably required for more fully and certainly vesting in and confirming to such successor Trustee all such moneys, estates, properties, rights, powers, trusts, duties and obligations. Upon acceptance of appointment by a successor Trustee as provided in this subsection, the City will mail or cause the successor Trustee to mail, by first class mail postage prepaid, a notice of the succession of such Trustee to the trusts hereunder to each rating agency which then maintains a rating on the Bonds, and to the Owners at the addresses shown on the Registration Books. If the City fails to mail such notice within 15 days after acceptance of appointment by the successor Trustee, the successor Trustee shall cause such notice to be mailed at the expense of the City. (e) Any Trustee appointed under the provisions of this Section in succession to the Trustee shall be a company or bank having trust powers, have a corporate trust office in the State of California, have (or be part of a bank holding company system whose bank holding company has) a combined capital and surplus of at least $50,000,000, and be subject to supervision or examination by federal or state authority. If such bank or company publishes a report of condition at least annually, under law or to the requirements of any supervising or examining authority above referred to, then for the purpose of this subsection the combined capital and surplus of such bank or company is deemed to be its combined capital and surplus as set forth in its most recent report of condition so published. In case at any time the Trustee shall cease to be eligible in accordance with the provisions of this subsection (e), the Trustee shall resign immediately in the manner and with the effect specified in subsection (c) of this Section. The City shall maintain a Trustee qualified under the provisions of the foregoing provisions of this subsection (e), so long as any Bonds are Outstanding. SECTION 6.02. Merger or Consolidation. Any bank or company into which the Trustee may be merged or converted or with which either of them may be consolidated or any bank or company resulting from any merger, conversion or consolidation to which it shall be a party or any bank or company to which the Trustee may sell or transfer all or substantially all of its corporate trust business, provided such bank or company shall be eligible under subsection (e) City Council Regular Meeting - Page 707 of 788

18 of Section 6.01, shall be the successor to such Trustee without the execution or filing of any paper or any further act, anything herein to the contrary notwithstanding. SECTION 6.03. Liability of Trustee. (a) The recitals of facts herein and in the Bonds contained shall be taken as statements of the City, and the Trustee assumes no responsibility for the correctness of the same, nor does it have any liability whatsoever therefor, nor does it make any representations as to the validity or sufficiency of this Indenture or of the Bonds nor does it incur any responsibility in respect thereof, other than as expressly stated herein. The Trustee is, however, responsible for its representations contained in its certificate of authentication on the Bonds. The Trustee is not liable in connection with the performance of its duties hereunder, except for its own negligence or willful misconduct. The Trustee is not liable for the acts of any agents of the Trustee selected by it with due care. The Trustee may become the Owner of Bonds with the same rights it would have if they were not Trustee and, to the extent permitted by law, may act as depository for and permit any of its officers or directors to act as a member of, or in any other capacity with respect to, any committee formed to protect the rights of the Owners, whether or not such committee shall represent the Owners of a majority in principal amount of the Bonds then Outstanding. The Trustee, either as principal or agent, may engage in any financial or other transaction with the City. (b) The Trustee is not liable with respect to any action taken or omitted to be taken by it in accordance with the direction of the Owners of a majority in aggregate principal amount of the Bonds at the time Outstanding relating to the time, method and place of conducting any proceeding for any remedy available to the Trustee, or exercising any trust or power conferred upon the Trustee under this Indenture. (c) The Trustee is not liable for any action taken by it in good faith and believed by it to be authorized or within the discretion or rights or powers conferred upon it by this Indenture, except for actions arising from the negligence or willful misconduct of the Trustee. The permissive right of the Trustee to do things enumerated hereunder shall not be construed as a mandatory duty. (d) The Trustee will not be deemed to have knowledge of any Event of Default hereunder unless and until a responsible officer of the Trustee has actual knowledge thereof, or unless and until a responsible officer of the Trustee has received written notice thereof at its Office. Except as otherwise expressly provided herein, the Trustee shall not be bound to ascertain or inquire as to the performance or observance of any of the terms, conditions, covenants or agreements herein or of any of the documents executed in connection with the Bonds, or as to the existence of an Event of Default hereunder or thereunder. The Trustee shall not be responsible for the City’s payment of principal and interest on the Bonds, the City’s observance or performance of any other covenants, conditions or terms contained herein, or the validity or effectiveness of any collateral given to or held by it. Without limiting the generality of the foregoing, and notwithstanding anything herein to the contrary, the Trustee is not responsible for reviewing the contents of any financial statements furnished to the Trustee and may rely conclusively on the Certificate of the City accompanying such financial statements to establish the City’s compliance with its financial covenants hereunder (other than its covenants to transfer such moneys to the Trustee when due hereunder).

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19 (e) No provision in this Indenture requires the Trustee to risk or expend its own funds or otherwise incur any financial liability hereunder. The Trustee is entitled to receive interest on any moneys advanced by it hereunder, at the maximum rate permitted by law. (f) The Trustee may establish additional accounts or subaccounts of the funds established hereunder as the Trustee deems necessary or prudent in furtherance of its duties under this Indenture. (g) The Trustee has no responsibility or liability whatsoever with respect to any information, statement, or recital in any official statement, offering memorandum or any other disclosure material prepared or distributed with respect to the Bonds, nor shall the Trustee have any obligation to review any such material, and any such review by the Trustee will not be deemed to create any obligation, duty or liability on the part of the Trustee. (h) Before taking any action under Article VIII hereof the Trustee may require indemnity satisfactory to the Trustee be furnished to it to hold the Trustee harmless from any expenses whatsoever and to protect it against any liability it may incur hereunder. (i) The immunities extended to the Trustee also extend to its directors, officers, employees and agents. (j) The permissive right of the Trustee to do things enumerated in this Indenture shall not be construed as a duty. (k) The Trustee may execute any of the trusts or powers hereof and perform any of its duties through attorneys, agents and receivers and shall not be answerable for the conduct of the same if appointed by it with reasonable care. (l) The Trustee will not be considered in breach of or in default in its obligations hereunder or progress in respect thereto in the event of delay in the performance of such obligations due to unforeseeable causes beyond its control and without its fault or negligence, including, but not limited to, Acts of God or of the public enemy or terrorists, acts of a government, acts of the other party, fires, floods, epidemics, quarantine restrictions, strikes, freight embargoes, earthquakes, explosion, mob violence, riot, inability to procure or general sabotage or rationing of labor, equipment, facilities, sources of energy, material or supplies in the open market, litigation or arbitration involving a party or others relating to zoning or other governmental action or inaction pertaining to any project refinanced with the proceeds of the Bonds, malicious mischief, condemnation, and unusually severe weather or delays of suppliers or subcontractors due to such causes or any similar event and/or occurrences beyond the control of the Trustee. SECTION 6.04. Right to Rely on Documents. The Trustee is protected in acting upon any notice, resolution, requisition, request, consent, order, certificate, report, opinion or other paper or document believed by it to be genuine and to have been signed or presented by the proper party or parties. The Trustee may consult with counsel, including, without limitation, Bond Counsel or other counsel of or to the City, with regard to legal questions, and the opinion of such counsel shall be full and complete authorization and protection in respect of any action taken or suffered by the Trustee hereunder in accordance therewith. The Trustee is not bound to recognize any person as the Owner of a Bond unless and until such Bond is submitted for inspection, if required, and such person’s title thereto is established to the satisfaction of the Trustee.

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20 Whenever in the administration of the trusts imposed upon it by this Indenture the Trustee deems it necessary or desirable that a matter be proved or established prior to taking or suffering any action hereunder, such matter (unless other evidence in respect thereof be herein specifically prescribed) may be deemed to be conclusively proved and established by a Certificate of the City, which shall be full warrant to the Trustee for any action taken or suffered in good faith under the provisions of this Indenture in reliance upon such Certificate, but in its discretion the Trustee may (but has no duty to), in lieu thereof, accept other evidence of such matter or may require such additional evidence as to it may deem reasonable. The Trustee may conclusively rely on any certificate or report of any Independent Accountant appointed by the City. SECTION 6.05. Preservation and Inspection of Documents. The Trustee shall retain in its possession all documents received by it under the provisions of this Indenture, which are subject during normal business hours, and upon reasonable prior written notice, to the inspection of the City and any Owner, and their agents and representatives duly authorized in writing. SECTION 6.06. Compensation and Indemnification. Absent any agreement to the contrary, the City shall pay to the Trustee from time to time compensation for all services rendered under this Indenture and also all expenses, charges, legal and consulting fees and other disbursements and those of its attorneys (including any allocated costs of internal counsel), agents and employees, incurred in and about the performance of its powers and duties under this Indenture. The City further covenants to indemnify the Trustee and its officers, directors, agents and employees, from and against any loss, expense and liabilities, whether or not litigated, which it may incur arising out of or in the exercise and performance of its powers and duties hereunder, including the costs and expenses of defending against any claim of liability and of enforcing any remedies hereunder and under any related documents, but excluding any and all losses, expenses and liabilities which are due to the negligence or willful misconduct of the Trustee, its officers, directors, agents or employees. The obligations of the City under this Section shall survive resignation or removal of the Trustee under this Indenture and payment of the Bonds and discharge of this Indenture. SECTION 6.07. Accounting Records and Financial Statements. The Trustee shall at all times keep, or cause to be kept, proper books of record and account, prepared in accordance with industry standards, in which complete and accurate entries shall be made of all transactions made by it relating to the proceeds of the Bonds and all funds and accounts established and held by the Trustee under this Indenture. Such books of record and account shall be available for inspection by the City at reasonable hours, with reasonable prior notice and under reasonable circumstances. The Trustee shall furnish to the City, at least semiannually, an accounting (which may be in the form of its customary statements) of all transactions relating to the proceeds of the Bonds and all funds and accounts held by the Trustee under this Indenture.

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21 ARTICLE VII MODIFICATION OR AMENDMENT OF THIS INDENTURE SECTION 7.01. Amendments Permitted. (a) Amendment With Bond Owner Consent. Except as set forth in Section 7.01(a), this Indenture and the rights and obligations of the City and of the Owners of the Bonds may be modified or amended by the City and the Trustee upon Request of the City at any time by the execution of a Supplemental Indenture which shall become binding as follows: (i) so long as the 2022 Policy is in full force and effect and to the extent the modification or amendment relates solely to rights or obligations of the Owners of the Bonds, upon the filing of the consent of the 2022 Insurer with the Trustee; (ii) if no 2022 Policy is in full force and effect and to the extent the modification or amendment relates to the rights or obligations of the Owners of all Bonds, upon the filing of the consent of the Owners of a majority in aggregate principal amount of the Bonds then Outstanding are filed with the Trustee, exclusive of Bonds disqualified as provided in Section 9.05. Any such Supplemental Indenture becomes effective upon the execution and delivery thereof by the parties thereto and upon consent of the requisite Bond Owners and consent of the 2022 Insurer (so long as the 2022 Policy is in full force and effect) to the extent set forth above. No such modification or amendment may: (i) extend the maturity of a Bond or reduce the interest rate thereon, or otherwise alter or impair the obligation of the City to pay the principal thereof, or interest thereon, or any premium payable on the redemption thereof, at the time and place and at the rate and in the currency provided therein, without the written consent of the Owner of that Bond; (ii) reduce the percentages of the Owners of the Bonds required to effect any such modification or amendment; or (iii) modify any of the rights or obligations of the Trustee without its written consent. (b) Amendment Without Bond Owner Consent. This Indenture and the rights and obligations of the City and of the Owners of the Bonds may also be modified or amended at any time by a Supplemental Indenture, without the consent of any Owners of the Bonds and the 2022 Insurer, for any one or more of the following purposes: (i) to add to the covenants and agreements of the City contained in this Indenture, other covenants and agreements thereafter to be observed, or to limit or surrender any rights or power herein reserved to or conferred upon the City; City Council Regular Meeting - Page 711 of 788

22 (ii) to provide additional security for the Bonds; (iii) to provide for the issuance of Additional Bonds in accordance with Section 3.04 hereof; or (iv) to cure any ambiguity, or to cure, correct or supplement any defective provision contained in this Indenture, or in any other respect whatsoever as the City deems necessary or desirable, provided under any circumstances that such modifications or amendments do not materially adversely affect the interests of the Owners in the opinion of Bond Counsel filed with the City and the Trustee. SECTION 7.02. Effect of Supplemental Indenture. From and after the time any Supplemental Indenture becomes effective under this Article, this Indenture shall be deemed to be modified and amended in accordance therewith, the respective rights, duties and obligations of the parties hereto or thereto and all Owners, as the case may be, shall thereafter be determined, exercised and enforced hereunder subject in all respects to such modification and amendment, and all the terms and conditions of any Supplemental Indenture shall be deemed to be part of the terms and conditions of this Indenture for any and all purposes. SECTION 7.03. Endorsement or Replacement of Bonds After Amendment. After the effective date of any amendment or modification hereof under this Article, the City may determine that any or all of the Bonds shall bear a notation, by endorsement in form approved by the City, as to such amendment or modification and in that case upon demand of the City the Owners of such Bonds shall present such Bonds for that purpose at the Office of the Trustee, and thereupon a suitable notation as to such action shall be made on such Bonds. In lieu of such notation, the City may determine that new Bonds shall be prepared and executed in exchange for any or all of the Bonds and in that case upon demand of the City the Owners of the Bonds shall present such Bonds for exchange at the Office of the Trustee without cost to such Owners. SECTION 7.04. Amendment by Mutual Consent. The provisions of this Article do not prevent any Owner from accepting any amendment as to the particular Bond held by such Owner. SECTION 7.05. Trustee’s Reliance. The Trustee may conclusively rely, and is protected in relying, upon a Certificate of the City and an opinion of counsel stating that all requirements of this Indenture relating to the amendment or modification hereof have been satisfied and that such amendments or modifications do not materially adversely affect the interests of the Bond Owners. ARTICLE VIII EVENTS OF DEFAULT AND REMEDIES SECTION 8.01. Events of Default. Each of the following events constitutes an Event of Default hereunder: (a) Failure to pay any installment of the principal of any Bonds when due, whether at maturity as therein expressed, by proceedings for redemption, by acceleration or otherwise, provided that if such default only relates to the payment of the principal of and interest on the Bonds, such Event of Default shall relate only to the Bonds.

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23 (b) Failure to pay any installment of interest on the Bonds when due, provided that if such default only relates to the payment of the principal of and interest on the Bonds, such Event of Default shall relate only to the Bonds. (c) Failure by the City to observe and perform any of the other covenants, agreements or conditions on its part contained in this Indenture or in the Bonds, if such failure has continued for a period of 30 days after written notice thereof, specifying such failure and requiring the same to be remedied, has been given to the City by the Trustee; provided, however, if in the reasonable opinion of the City the failure stated in the notice can be corrected, but not within such 30-day period, such failure will not constitute an Event of Default if corrective action is instituted by the City within such 30-day period and thereafter diligently and in good faith cures the failure in a reasonable period of time. (d) The City commences a voluntary case under Title 11 of the United States Code or any substitute or successor statute. SECTION 8.02. Remedies on Default. If an Event of Default with respect to the Bonds occurs under Section 8.01 and is continuing, the Trustee may, and at the written direction of the Owners of a majority in aggregate principal amount of the Bonds then Outstanding the Trustee shall, (a) declare the principal of the Bonds, together with the accrued interest thereon, to be due and payable immediately, and upon any such declaration the same will become immediately due and payable, anything in this Indenture or in the Bonds to the contrary notwithstanding, and (b) subject to the provisions of Sections 8.07 and 8.09, exercise any other remedies available to the Trustee and the Bond Owners in law or at equity to enforce the rights of the Bond Owners under this Indenture. Without limiting the generality of the foregoing, the Trustee shall have the right by mandamus, suit, action or proceeding, to compel the City and its members, officers, agents or employees to perform each and every term, provision and covenant contained in this Indenture and in the Bonds, and to require the carrying out of any or all such covenants and agreements of the City and the fulfillment of all duties imposed upon it. This provision, however, is subject to the condition that if, at any time after the principal of the Bonds has been so declared due and payable, and before any judgment or decree for the payment of the moneys due has been obtained or entered, the City deposits with the Trustee a sum sufficient to pay all principal on the Bonds matured prior to such declaration and all matured installments of interest (if any) upon all such Bonds, with interest on such overdue installments of principal and interest at an interest rate equal to the highest rate borne by the Outstanding Bonds and the reasonable fees and expenses of the Trustee, including fees and expenses of its attorneys, and any and all other defaults known to the Trustee (other than in the payment of principal of and interest on the Bonds due and payable solely by reason of such declaration) has been made good or cured to the satisfaction of the Trustee or provision deemed by the Trustee to be adequate has been made therefor, then, and in every such case, the Owners of at least a majority in aggregate principal amount of the Bonds then Outstanding, by written notice to the City and to the Trustee, may, on behalf of the Owners of all of the Bonds, rescind and annul such declaration and its consequences. However, no such rescission and annulment shall extend to or shall affect any subsequent default, or shall impair or exhaust any right or power consequent thereon.

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24 SECTION 8.03. Notice of Event of Default. Immediately upon obtaining actual knowledge of the occurrence of an Event of Default, but in no event later than five Business Days following becoming aware of such occurrence, the Trustee shall give notice of such Event of Default to the City by telephone confirmed in writing. Such notice must also state whether the principal of the Bonds has been declared to be or have immediately become due and payable as provided in Section 8.02(a). With respect to any Event of Default described in Section 8.01(a) or (b), the Trustee shall, and with respect to any Event of Default described in Section 8.01(c) the Trustee in its sole discretion may, also give such notice to the Bond Owners at their respective addresses appearing on the Bond Registration Books, which must include the statement that interest on the Bonds will cease to accrue from and after the date, if any, on which the Trustee declares the Bonds to become due and payable under Section 8.02 (but only to the extent that principal and any accrued, but unpaid, interest on the Bonds is actually paid on such date). SECTION 8.04. Application of Funds Upon Event of Default. All of the amounts in the BondDebt Service Fund, the accounts therein, and any other funds and accounts established and held by the Trustee hereunder for the benefit of the Bonds upon the occurrence of an Event of Default, and all amounts thereafter received by the Trustee hereunder for the benefit of the Bonds, shall be applied by the Trustee as follows and in the following order: (i) First, to the payment of any fees, costs and expenses incurred by the Trustee to protect the interests of the Owners of the Bonds; payment of the fees, costs and expenses of the Trustee (including fees and expenses of its counsel, including any allocated costs of internal counsel) incurred in and about the performance of its powers and duties under this Indenture and the payment of all fees, costs and expenses owing to the Trustee under Section 6.06, together with interest on all such amounts advanced by the Trustee at the maximum rate permitted by law. (ii) Second, to the payment of the whole amount then owing and unpaid upon the Bonds for interest and principal, with interest on such overdue amounts at the respective rates of interest borne by those Bonds, and in case such moneys are insufficient to pay in full the whole amount so owing and unpaid upon the Bonds, then to the payment of such interest, principal and interest on overdue amounts without preference or priority among such interest, principal and interest on overdue amounts ratably to the aggregate of such interest, principal and interest on overdue amounts. SECTION 8.05. Power of Trustee to Control Proceedings. If the Trustee, upon the happening of an Event of Default, takes any action, by judicial proceedings or otherwise, in the performance of its duties hereunder, whether upon its own discretion, with the consent or upon the request of the Owners of a majority in aggregate principal amount of the Bonds then Outstanding, it has full power, in the exercise of its discretion for the best interests of the Owners of the Bonds, with respect to the continuance, discontinuance, withdrawal, compromise, settlement or other disposal of such action. The Trustee may not, unless there no longer continues an Event of Default, discontinue, withdraw, compromise or settle, or otherwise dispose of any litigation pending at law or in equity, if at the time there has been filed with it a written request signed by the Owners of a majority in principal amount of the Outstanding Bonds hereunder opposing such discontinuance, withdrawal, compromise, settlement or other disposal of such litigation.

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25 SECTION 8.06. Limitation on Owners’ Right to Sue. No Owner of a Bond has the right to institute any suit, action or proceeding at law or in equity, for any remedy under or upon this Indenture, unless: (a) said Owner has previously given to the Trustee written notice of the occurrence of an Event of Default; (b) the Owners of a majority in aggregate principal amount of all the Bonds then Outstanding have requested the Trustee in writing to exercise the powers hereinbefore granted or to institute such action, suit or proceeding in its own name; (c) said Owners have tendered to the Trustee indemnity reasonably acceptable to the Trustee against the costs, expenses and liabilities to be incurred in compliance with such request; and (d) the Trustee has failed to comply with such request for a period of 60 days after such written request has been received by, and said tender of indemnity has been made to, the Trustee. Such notification, request, tender of indemnity and refusal or omission are hereby declared, in every case, to be conditions precedent to the exercise by any Owner of any remedy hereunder; it being understood and intended that no one or more Owners has any right in any manner whatever by his or their action to enforce any right under this Indenture, except in the manner herein provided, and that all proceedings at law or in equity to enforce any provision of this Indenture shall be instituted, had and maintained in the manner herein provided and for the equal benefit of all Owners of the Outstanding Bonds. The right of any Owner of any Bond to receive payment of the principal of and premium, if any, and interest on such Bond as herein provided, shall not be impaired or affected without the written consent of such Owner, notwithstanding the foregoing provisions of this Section or any other provision of this Indenture. SECTION 8.07. Non-waiver. Nothing in this Article or in any other provision of this Indenture or in the Bonds, affects or impairs the obligation of the City, which is absolute and unconditional, to pay from any source of legally available funds of the City, Pension Tax Override Revenues and other amounts pledged hereunder, the principal of and interest and redemption premium (if any) on the Bonds to the Bond Owners when due and payable as herein provided, or affects or impairs the right of action, which is also absolute and unconditional, of the Bond Owners to institute suit to enforce such payment by virtue of the contract embodied in the Bonds. Nothing in this Article or in any other provision of this Indenture or in the Bonds, affects or impairs the obligation of the City, which is absolute and unconditional, to pay from any source of legally available funds of the City, including, to the extent permitted under Section 4.02 hereof and applicable law, Pension Tax Override Revenues, the principal of and interest and redemption premium (if any) on the Bonds to the Bond Owners when due and payable as herein provided, or affects or impairs the right of action, which is also absolute and unconditional, of the Bond Owners to institute suit to enforce such payment by virtue of the contract embodied in the Bonds. A waiver of any default by any Owner does not affect any subsequent default or impair any rights or remedies on the subsequent default. No delay or omission of any Owner to exercise City Council Regular Meeting - Page 715 of 788

26 any right or power accruing upon any default shall impair any such right or power or shall be construed to be a waiver of any such default or an acquiescence therein, and every power and remedy conferred upon the Owners by the Bond Law or by this Article may be enforced and exercised from time to time and as often as shall be deemed expedient by the Owners. If a suit, action or proceeding to enforce any right or exercise any remedy is abandoned or determined adversely to the Bond Owners, the City, the Bond Owners will be restored to their former positions, rights and remedies as if such suit, action or proceeding had not been brought or taken. SECTION 8.08. Actions by Trustee as Attorney-in-Fact. Any suit, action or proceeding which any Owner has the right to bring to enforce any right or remedy hereunder may be brought by the Trustee for the equal benefit and protection of all Owners similarly situated and the Trustee is hereby appointed (and the successive respective Owners by taking and holding the Bonds shall be conclusively deemed so to have appointed it) the true and lawful attorney-in-fact of the respective Owners for the purpose of bringing any such suit, action or proceeding and to do and perform any and all acts and things for and on behalf of the respective Owners as a class or classes, as may be necessary or advisable in the opinion of the Trustee as such attorney-in-fact, subject to the provisions of Article VI. Notwithstanding the foregoing provisions of this Section, the Trustee has no duty to enforce any such right or remedy unless it has been indemnified to its satisfaction for any additional fees, charges and expenses of the Trustee related thereto, including without limitation, fees and charges of its attorneys and advisors. SECTION 8.09. Remedies Not Exclusive. No remedy herein conferred upon or reserved to the Owners is intended to be exclusive of any other remedy. Every such remedy shall be cumulative and shall be in addition to every other remedy given hereunder or now or hereafter existing, at law or in equity or by statute or otherwise, and may be exercised without exhausting and without regard to any other remedy conferred by the Bond Law or any other law. SECTION 8.10. Consent of the 2022 Insurer Upon Default. Anything in this Indenture to the contrary notwithstanding, upon the occurrence and continuance of a default or an event of default, the 2022 Insurer shall be deemed to be the sole holder of the 2022 Insured Bonds for all purposes and shall be entitled to control and direct the enforcement of all rights and remedies granted to the holders of the Bonds or Trustee for the benefit of such holders under this Indenture. The Trustee may not waive any default or event of default or accelerate the 2022 Insured Bonds without the 2022 Insurer’s written consent. ARTICLE IX MISCELLANEOUS SECTION 9.01. Benefits Limited to Parties. Nothing in this Indenture, expressed or implied, gives any person other than the City, the Trustee, the 2022 Insurer and the Owners, any right, remedy, claim under or by reason of this Indenture. Any covenants, stipulations, promises or agreements in this Indenture contained by and on behalf of the City are for the sole and exclusive benefit of the Trustee, the 2022 Insurer and the Owners. SECTION 9.02. Successor is Deemed Included in All References to Predecessor. Whenever in this Indenture or any Supplemental Indenture either the City or the Trustee is named or referred to, such reference shall be deemed to include the successors or assigns thereof, and all the covenants and agreements in this Indenture contained by or on behalf of the City or the City Council Regular Meeting - Page 716 of 788

27 Trustee binds and inures to the benefit of the respective successors and assigns thereof whether so expressed or not. SECTION 9.03. Defeasance of Bonds. If the City pays and discharges the entire indebtedness on any Bonds in any one or more of the following ways: (a) by paying or causing to be paid the principal of and interest on such Bonds, as and when the same become due and payable; (b) by irrevocably depositing with the Trustee or an escrow bank, in trust, at or before maturity, an amount of cash which, together with the available amounts then on deposit in the funds and accounts established under this Indenture, in the opinion or report of an Independent Accountant is fully sufficient to pay such Bonds, including all principal, interest and redemption premium, if any; (c) by irrevocably depositing with the Trustee or an escrow bank, in trust, Federal Securities in such amount as an Independent Accountant determines will, together with the interest to accrue thereon and available moneys then on deposit in any of the funds and accounts established under this Indenture, be fully sufficient to pay and discharge the indebtedness on such Bonds (including all principal, interest and redemption premium, if any) at or before maturity; or (d) by purchasing such Bonds prior to maturity and tendering such Bonds to the Trustee for cancellation; then, at the election of the City, and notwithstanding that any such Bonds have not been surrendered for payment, the pledge of the Pension Tax Override Revenues, to the extent provided for such Bonds in this Indenture, and other funds provided for in this Indenture, and all other obligations of the Trustee and the City under this Indenture with respect to such Bonds shall cease and terminate, except only: (a) the obligation of the Trustee to transfer and exchange Bonds hereunder, (b) the obligation of the City to pay or cause to be paid to the Owners of such Bonds, from the amounts so deposited with the Trustee, all sums due thereon, and (c) the obligations of the City to compensate and indemnify the Trustee under Section 6.06. The City must file notice of such election with the Trustee. The Trustee shall pay any funds thereafter held by it, which are not required for said purpose, to the City. To accomplish defeasance, the City shall cause to be delivered (i) a report of an Independent Accountant verifying the sufficiency of the escrow established to pay the Bonds in full at maturity, (ii) an escrow deposit agreement or other irrevocable written instructions to the Trustee, (iii) an opinion of Bond Counsel to the effect that the Bonds are no longer Outstanding, and (iv) a certificate of discharge of the Trustee with respect to the Bonds. Each such verification City Council Regular Meeting - Page 717 of 788

28 report and defeasance opinion shall be acceptable in form and substance to the City, and addressed, to the City and the Trustee. In the case of a defeasance or payment of all of the Bonds Outstanding in accordance with this Section, the Trustee shall pay all amounts held by it in any funds or accounts hereunder, which are not required for said purpose or for payment of amounts due the Trustee under Section 6.06, to the City. SECTION 9.04. Execution of Documents and Proof of Ownership by Owners. Any request, consent, declaration or other instrument which this Indenture may require or permit to be executed by any Owner may be in one or more instruments of similar tenor, and shall be executed by such Owner in person or by their attorneys appointed in writing. Except as otherwise herein expressly provided, the fact and date of the execution by any Owner or his attorney of such request, consent, declaration or other instrument, or of such writing appointing such attorney, may be proved by the certificate of any notary public or other officer authorized to take acknowledgments of deeds to be recorded in the state in which he purports to act, that the person signing such request, declaration or other instrument or writing acknowledged to him the execution thereof, or by an affidavit of a witness of such execution, duly sworn to before such notary public or other officer. The ownership of Bonds and the amount, maturity, number and date of ownership thereof are conclusively proved by the Registration Books. Any request, declaration or other instrument or writing of the Owner of any Bond binds all future Owners of such Bond in respect of anything done or suffered to be done by the City or the Trustee in good faith and in accordance therewith. SECTION 9.05. Disqualified Bonds. In determining whether the Owners of the requisite aggregate principal amount of Bonds have concurred in any demand, request, direction, consent or waiver under this Indenture, Bonds which are owned or held by or for the account of the City shall be disregarded and deemed not to be Outstanding for the purpose of any such determination. The Trustee will not be deemed to have knowledge that any Bond is owned or held by the City unless the Trustee has received written notice to that effect. SECTION 9.06. Waiver of Personal Liability. No member, officer, agent or employee of the City is individually or personally liable for the payment of the principal of or interest or any premium on the Bonds. However, nothing contained herein relieves any such member, officer, agent or employee from the performance of any official duty provided by law. SECTION 9.07. Destruction of Canceled Bonds. Whenever in this Indenture provision is made for the surrender to the City of any Bonds which have been paid or canceled under the provisions of this Indenture, a certificate of destruction duly executed by the Trustee shall be deemed to be the equivalent of the surrender of such canceled Bonds and the City is entitled to rely upon any statement of fact contained in any certificate with respect to the destruction of any such Bonds therein referred to. The City will pay all costs of any microfilming of Bonds to be destroyed. SECTION 9.08. Notices. All written notices under this Indenture shall be given by first class mail or personal delivery to the party entitled thereto at its address set forth below, or at such address as the party may provide to the other party in writing from time to time. Notice shall be City Council Regular Meeting - Page 718 of 788

29 effective either (a) upon transmission by facsimile transmission or other form of telecommunication, (b) upon actual receipt after deposit in the United States mail, postage prepaid, or (c) in any other case, upon actual receipt. The City or the Trustee may, by written notice to the other parties, from time to time modify the address or number to which communications are given hereunder. If to the City: City of Lynwood 11330 Bullis Road Lynwood, California 90262 Attention: City Manager If to the Trustee: U.S. Bank Trust Company, National Association 633 West Fifth Street, 24th Floor Los Angeles, California 90071 Attention: Global Corporate Trust If to the 2022 Insurer: [To come, if applicable.] SECTION 9.09. Partial Invalidity. If any Section, paragraph, sentence, clause or phrase of this Indenture is for any reason held illegal, invalid or unenforceable, such holding will not affect the validity of the remaining portions of this Indenture. The City and the Trustee hereby declare that they would have entered into this Indenture and each and every other Section, paragraph, sentence, clause or phrase hereof and authorized the issue of the Bonds irrespective of the fact that any one or more Sections, paragraphs, sentences, clauses, or phrases of this Indenture may be held illegal, invalid or unenforceable. SECTION 9.10. Unclaimed Moneys. Anything contained herein to the contrary notwithstanding, any money held by the Trustee in trust for the payment and discharge of the interest or premium (if any) on or principal of the Bonds which remains unclaimed for two years after the date when the payments of such interest, premium and principal have become payable, if such money was held by the Trustee at such date, or for two years after the date of deposit of such money if deposited with the Trustee after the date when the interest and premium (if any) on and principal of such Bonds have become payable, shall be repaid by the Trustee to the City as its absolute property free from trust, and the Trustee shall thereupon be released and discharged with respect thereto and the Owners shall look only to the City for the payment of the principal of and interest and redemption premium (if any) on such Bonds. SECTION 9.11. Execution in Counterparts. This Indenture may be executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument. SECTION 9.12. Governing Law. This Indenture shall be construed and governed in accordance with the laws of the State of California. [SECTION 9.13. 2022 Insurer as Third Party Beneficiary. The 2022 Insurer is explicitly recognized as and shall be deemed to be a third party beneficiary of this Indenture and may enforce any right, remedy or claim conferred, given or granted hereunder.] City Council Regular Meeting - Page 719 of 788

30 IN WITNESS WHEREOF, the CITY OF LYNWOOD has caused this Indenture to be signed in its name by its City Manager and attested to by its City Clerk, and U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, in token of its acceptance of the trusts created hereunder, has caused this Indenture to be signed in its corporate name by its officer thereunto duly authorized, all as of the day and year first above written. CITY OF LYNWOOD By Ernie Hernandez City Manager Attest: Maria Quinonez City Clerk U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee By Authorized Officer City Council Regular Meeting - Page 720 of 788

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APPENDIX A DEFINITIONS “Additional Bonds” means all bonds issued by the City that are secured on a parity with Bonds issued hereunderBond. “Authorizing Resolution” means Resolution No. ______ adopted by the City Council of the City on June 7, 2022, authorizing the issuance of the Bonds. “Bond Counsel” means (a) Jones Hall, A Professional Law Corporation, or (b) any other attorney or firm of attorneys appointed by or acceptable to the City of nationally-recognized experience in the issuance of obligations issued by public agencies. “Bond Law” means the provisions of Articles 10 and 11 of Chapter 3 of Part 1 of Division 2 of Title 5 of the California Government Code, commencing with Section 53570 of said Code, as in effect on the Closing Date or as thereafter amended. “Bonds” means the 2022 Bonds and any Additional Bonds. “Business Day” means a day of the year (other than a Saturday or Sunday) on which banks in California are not required or permitted to be closed, and on which the New York Stock Exchange is open. “Certificate of the City” means a certificate in writing signed by the Mayor, City Manager or Finance Director of the City, or any other officer of the City duly authorized by the City for that purpose. “City” means the City of Lynwood, a general law city and municipal corporation organized and existing under the laws of the State of California. “Continuing Disclosure Certificate” means that certain Continuing Disclosure Certificate, with respect to the 2022 Bonds, executed by the City, as originally executed and as it may be amended from time to time in accordance with the terms thereof. “Closing Date” means __________, 2022, being the date on which the Bonds are delivered by the City to the Original Purchaser. “Costs of Issuance” means all items of expense directly or indirectly payable by or reimbursable to the City relating to the authorization, issuance, sale and delivery of the Bonds, including but not limited to: printing expenses; rating agency fees; bond insurance and reserve fund insurance premiums; filing and recording fees; initial fees, expenses and charges of the Trustee, and its counsel, including the Trustee’s first annual administrative fee; fees, charges and disbursements of attorneys, financial advisors, accounting firms, consultants and other professionals; and any other cost, charge or fee in connection with the original issuance of the Bonds. “Debt Service Fund” means the fund by that name established and held by the Trustee under Section 4.03.

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“Depository” means (a) initially, DTC, and (b) any other Securities Depository acting as Depository under Section 2.04. “Depository System Participant” means any participant in the Depository’s book-entry system. “DTC” means The Depository Trust Company, New York, New York, and its successors and assigns. “Event of Default” means any of the events described in Section 8.01. “Federal Securities” means: (a) any direct general obligations of the United States of America (including obligations issued or held in book entry form on the books of the Department of the Treasury of the United States of America), for which the full faith and credit of the United States of America are pledged; (b) obligations of any agency, department or instrumentality of the United States of America, the timely payment of principal and interest on which are directly or indirectly secured or guaranteed by the full faith and credit of the United States of America. “Fiscal Year” means any twelve-month period beginning on July 1 in any year and extending to the next succeeding June 30, both dates inclusive, or any other twelve-month period selected and designated by the City as its official fiscal year period under a Certificate of the City filed with the Trustee. “Indenture” means this Indenture of Trust between the City and the Trustee, as amended or supplemented from time to time under any Supplemental Indenture entered into under the provisions hereof. “Independent Accountant” means any accountant or firm of such accountants duly licensed or registered or entitled to practice and practicing as such under the laws of the State of California, appointed by or acceptable to the City, and who, or each of whom: (a) is in fact independent and not under domination of the City; (b) does not have any substantial interest, direct or indirect, with the City; and (c) is not connected with the City as an officer or employee of the City, but who may be regularly retained to make reports to the City. “Interest Account” means the account by that name established and held by the Trustee under Section 4.03(a). “Interest Payment Date” means ______ 1, 20__, and each January 1 and July 1 thereafter so long as any of the Bonds remain unpaid. “Nominee” means (a) initially, Cede & Co. as nominee of DTC, and (b) any other nominee of the Depository designated under Section 2.04(a). “Office” means, with respect to the Trustee, the corporate trust office of the Trustee at the address set forth in Section 9.08, or at such other or additional offices as may be specified by the Trustee in writing to the City; except that with respect to presentation of Bonds for payment or for registration of transfer and exchange, such term means the office or agency of the Trustee at which, at any particular time, its corporate trust agency business is conducted. “Original Purchaser” means the original purchaser of a series of Bonds upon the negotiated sale thereof.

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“Outstanding”, when used as of any particular time with reference to Bonds, means (subject to the provisions of Section 9.05) all Bonds except: (a) Bonds theretofore canceled by the Trustee or surrendered to the Trustee for cancellation; (b) Bonds paid or deemed to have been paid within the meaning of Section 9.03; and (c) Bonds in lieu of or in substitution for which other Bonds have been authorized, executed, issued and delivered by the City hereunder. “Owner” means, with respect to any Bond, the person in whose name the ownership of such Bond is registered on the Registration Books. “Parity Pension Override Obligations” means all bonds or other obligations issued by the City after the Closing Date to refund obligations to CalPERS and secured in whole or in part by a pledge of, security interest in and first lien on Pension Tax Override Revenues on parity with the lien securing Bonds issued hereunder, as authorized by the provisions of Section 3.05. “Pension Tax Override” means the annual tax levy established by the City at the rate of $0.125 per $100 of assessed valuation, permitted as an additional component of property taxation to pay for pension obligations as a result of special tax authority approved by the voters on April 9, 1946 and which is limited to payment for certain pension obligations incurred prior to July 1, 1978. “Pension Tax Override Revenues” means ______% of the revenues generated and collected the by the City in each Fiscal Year from the Pension Tax Override, net of collection costs and administrative charges. “Pension Tax Override Revenues” shall not include investment earnings on such revenues while held by the City in the Pension Tax Special Revenue Fund. “Pension Tax Special Revenue Fund” means the fund by that name established and held by the City. “Permitted Investments” means any of the following which at the time of investment are legal investments under the laws of the State of California for the moneys proposed to be invested therein: (a) Federal Securities. (b) Any direct or indirect obligations of an agency or department of the United States of America whose obligations represent the full faith and credit of the United States of America, or which are rated A or better by S&P. (c) Interest-bearing deposit accounts (including certificates of deposit) in federal or State chartered savings and loan associations or in federal or State of California banks (including the Trustee), provided that: (i) the unsecured obligations of such commercial bank or savings and loan association are rated A or better by S&P; or (ii) such deposits are fully insured by the Federal Deposit Insurance Corporation. (d) Commercial paper rated “A-1+” or better by S&P. (e) Federal funds or bankers acceptances with a maximum term of one year of any bank which an unsecured, uninsured and unguaranteed obligation rating of “A-1+” or better by S&P.

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(f) Money market funds registered under the Federal Investment Company Act of 1940, whose shares are registered under the Federal Securities Act of 1933, and having a rating by S&P of at least AAAm-G, AAAm or AAm, which funds may include funds for which the Trustee, its affiliates, parent or subsidiaries provide investment advisory or other management services. (g) U.S. denominated deposit account, certificates of deposit and banker’s acceptances of any bank, trust company, or savings and loan association, including the Trustee or its affiliates, which have a rating on their short-term certificates of deposit on the date of purchase in one of the two highest short-term rating categories (without regard to any refinement or gradation of rating category by numerical modifier or otherwise) assigned by S&P, and which mature not more than 365 days after the date of purchase. (h) Obligations the interest on which is excludable from gross income under Section 103 of the Tax Code, and which are either (a) rated A or better by S&P, or (b) fully secured as to the payment of principal and interest by Permitted Investments described in clauses (a) or (b). (i) Obligations issued by any corporation organized and operating within the United States of America having assets in excess of $500,000,000, which obligations are rated A or better by S&P. (j) Bonds or notes issued by any state or municipality which are rated A or better by S&P. (k) Any investment agreement with, or guaranteed by, a financial institution the long-term unsecured obligations or the claims paying ability of which are rated A or better by S&P at the time of initial investment, by the terms of which all amounts invested thereunder are required to be withdrawn and paid to the Trustee in the event such rating at any time falls below A. (l) The Local Agency Investment Fund of the State of California, created pursuant to Section 16429.1 of the California Government Code, to the extent the Trustee is authorized to register such investment in its name. “PERS” means the Public Employees’ Retirement System. “PERS Contracts” means the contracts, as amended from time to time, entered into by the City and PERS pursuant to the Retirement Law obligating the City to make contributions to PERS in exchange for PERS providing retirement benefits to certain City employees. “PERS Obligations” means the obligation of the City under the Retirement Law and the PERS Contracts to make payments to PERS with respect to benefits accruing to retired City employees who are PERS members, including retired public safety employees and retired miscellaneous employees. “Principal Account” means the account by that name established and held by the Trustee under Section 4.03(b).

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“Record Date” means, with respect to any Interest Payment Date, the close of business on the 15th calendar day of the month preceding such Interest Payment Date occurs, whether or not such 15th calendar day is a Business Day. “Registration Books” means the records maintained by the Trustee under Section 2.07 for the registration and transfer of ownership of the Bonds. “Request of the City” means a request in writing signed by the Mayor, City Manager or Finance Director of the City, or any other officer of the City duly authorized by the City for that purpose. “Retirement Law” means the Public Employees’ Retirement Law, constituting Part 3 of Division 5 of Title 2 of the California Government Code, commencing with Section 20000 of said Code. “S&P” means S&P Global Ratings, Inc., and its successors. “Securities Depositories” means DTC; and, in accordance with then current guidelines of the Securities and Exchange Commission, such other addresses and/or such other securities depositories as the City may designate in a Request of the City delivered by the City to the Trustee. “Supplemental Indenture” means any indenture, agreement or other instrument which amends, supplements or modifies this Indenture and which has been duly entered into between the City and the Trustee; but only if and to the extent that such Supplemental Indenture is specifically authorized hereunder. “Term Bonds” means, collectively, the 2022 Bonds maturing on January 1 in each of the years 20__, and 20__, and any other Bonds payable from mandatory sinking fund payments. “Trustee” means U.S. Bank Trust Company, National Association, as Trustee hereunder, or any successor thereto appointed as Trustee hereunder in accordance with the provisions of Article VI. “2022 Bonds” means the City of Lynwood Taxable Pension Obligation Bonds, Series 2022 issued by the City in the aggregate principal amount of $_______. “2022 Insured Bonds” means the 2022 Bonds maturing on January 1, 20__ and January 1, 20__. [“2022 Insurer” means __________, as issuer of the 2022 Policy, or any successor thereto.] [“2022 Policy” means the Municipal Bond Insurance Policy issued by the 2022 Insurer that guarantees the scheduled payment of principal of and interest on the 2022 Insured Bonds when due.] City Council Regular Meeting - Page 725 of 788

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APPENDIX B FORM OF 2022 BONDS No. ***$ *** UNITED STATES OF AMERICA STATE OF CALIFORNIA CITY OF LYNWOOD TAXABLE PENSION OBLIGATION BOND, SERIES 2022[A][B] [(PENSION TAX OVERRIDE SECURED)] RATE OF MATURITY DATE: ORIGINAL ISSUE INTEREST: DATE: DATE: CUSIP January 1, 20__ ______, 2022 REGISTERED OWNER: CEDE & CO. PRINCIPAL AMOUNT: THOUSAND DOLLARS The CITY OF LYNWOOD, a general law city and municipal corporation duly organized and existing under the laws of the State of California (the “City”), for value received, hereby promises to pay to the Registered Owner identified above or registered assigns (the “Registered Owner”), on the Maturity Date identified above, the Principal Amount identified above in lawful money of the United States of America; and to pay interest thereon at the Rate of Interest identified above in like lawful money from the date hereof, which date shall be the Interest Payment Date (as hereinafter defined) next preceding the date of authentication of this Bond (unless this Bond is authenticated on or before an Interest Payment Date and after the first calendar day of the month in which such Interest Payment Date occurs (a “Record Date”), in which event it shall bear interest from such Interest Payment Date, or unless this Bond is authenticated on or before ____ 1, 2022, in which event it shall bear interest from the Original Issue Date identified above; provided, however, that if, at the time of authentication of this Bond, interest is in default on this Bond, this Bond shall bear interest from the Interest Payment Date to which interest hereon has previously been paid or made available for payment), payable semiannually on January 1 and July 1 in each year, commencing _______ 1, 2022 (each, an “Interest Payment Date”) until payment of such Principal Amount in full. The Principal Amount hereof is payable upon presentation hereof at the corporate office of U.S. Bank Trust Company, National Association, as trustee (the “Trustee”), in Los Angeles, California, or such other place as designated by the Trustee. Interest hereon is payable by check of the Trustee mailed by first class mail on each Interest Payment Date to the Registered Owner hereof at the address of such Registered Owner as it appears on the registration books of the Trustee as of the preceding Record Date; provided that at the written request of the owner of at least $1,000,000 aggregate principal amount of City Council Regular Meeting - Page 726 of 788

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Bonds which written request is on file with the Trustee prior to the Record Date immediately preceding any Interest Payment Date, interest on such Bonds shall be paid on such Interest Payment Date by wire transfer to such account within the United States of America as shall be specified in such written request. This Bond is one of a duly authorized issue of bonds of the City designated as the “City of Lynwood Taxable Pension Obligation Bonds, Series 2022[A][B] [(Pension Tax Override Secured)]” (the “Bonds”) of an aggregate principal amount of $________, all of like tenor and date (except for such variation, if any, as may be required to designate varying numbers, maturities or interest rates) and all issued under the provisions of Articles 10 and 11 of Chapter 3 of Part 1 of Division 2 of Title 5 of the California Government Code, commencing with Section 53570 of said Code (the “Bond Law”) and under an Indenture of Trust, dated as of ____________ 1, 2022, between the City and the Trustee (the “Indenture”). The Bonds have been authorized to be issued by the City under a resolution adopted by the City Council of the City on June 7, 2022. Reference is hereby made to the Indenture (copies of which are on file at the office of the City) and all supplements thereto and to the Bond Law for a description of the terms on which the Bonds are issued, and the rights thereunder of the owners of the Bonds and the rights, duties and immunities of the Trustee and the rights and obligations of the City thereunder, to all of the provisions of which the Registered Owner of this Bond, by acceptance hereof, assents and agrees. The Bonds have been issued by the City to refinance obligations of the City owing to the Public Employees Retirement System of the State of California. This Bond and the interest hereon and all other parity obligations and the interest thereon (to the extent set forth in the Indenture) are [(i) secured by a lien and security interest in all right, title and interest of the City in and to Pension Tax Override Revenues and the funds and accounts provided for in the Indenture, and (ii)] payable from any source of legally available funds of the City, including amounts on deposit in the General Fund of the City, and, to the extent permitted under the Indenture and applicable law, Pension Tax Override Revenues. The rights and obligations of the City and the owners of the Bonds may be modified or amended at any time in the manner, to the extent and upon the terms provided in the Indenture, but no such modification or amendment shall permit a change in the terms of maturity of the principal of any outstanding Bond or of any installment of interest thereon or a reduction in the rate of interest thereon without the consent of the owner of such Bond, or shall reduce the percentages of the owners required to effect any such modification or amendment. The Bonds maturing on or before January 1, 20__, are not subject to redemption prior to their respective stated maturities. The Bonds maturing on or after January 1, 20__, are subject to redemption in whole, or in part among maturities on such basis as set forth in a Request of the City, and within a maturity on a pro rata basis among the Beneficial Owners of the Bonds of such maturity, at the option of the City, on any date on or after January 1, 20__, from any available source of funds, at a redemption price equal to the principal amount thereof to be redeemed together with accrued interest thereon to the redemption date, without premium. The Bonds maturing on January 1 in each of the years 20__ and 20__ (the “Term Bonds”) are subject to mandatory redemption, within a maturity on a pro rata basis among the Beneficial Owners of the Term Bonds of such maturity, at a redemption price equal to City Council Regular Meeting - Page 727 of 788

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100% of the principal amount thereof to be redeemed, without premium, in the aggregate respective principal amounts and on January 1 in the respective years as set forth in the following tables. If some but not all of the Term Bonds have been redeemed pursuant to optional redemption described in the preceding paragraph, the total amount of all future sinking fund payments will be reduced by the aggregate principal amount of the Term Bonds so redeemed, to be allocated among such sinking fund payments on a pro rata basis in integral multiples of $5,000 (as set forth in a schedule provided by the City to the Trustee). Term Bonds Maturing January 1, 20__ Sinking Fund Redemption Date (January 1) Principal Amount To Be Redeemed (Maturity) Term Bonds Maturing January 1, 20__ Sinking Fund Redemption Date (January 1) Principal Amount To Be Redeemed (Maturity) As provided in the Indenture, the Trustee is required to mail notice of redemption of any Bonds by first class mail, postage prepaid, not less than 20 nor more than 60 days before the redemption date, to the registered owners of the Bonds to be redeemed, but neither failure to receive such notice nor any defect in the notice so mailed affects the sufficiency of the proceedings for prepayment or the cessation of accrual of interest thereon. Any notice so given by the Trustee with respect to the optional redemption of Bonds may be rescinded under the circumstances and with the effect set forth in the Indenture. If this Bond is called for redemption and payment is duly provided therefor as specified in the Indenture, interest hereon will cease to accrue from and after the date fixed for redemption. Whenever provision is made in the Indenture for the redemption of less than all of the Bonds of a maturity, the Trustee will select the Bonds of such maturity to be redeemed on a pro rata basis among the Beneficial Owners of the Bonds of such maturity. For purpose of such selection, all Bonds will be deemed to be comprised of separate $5,000 denominations and such separate denominations will be treated as separate Bonds which may be separately redeemed. So long as the Bonds are registered in book-entry-only form and so long as DTC (as defined below) or a successor securities depository is the sole registered Owner of the Bonds, partial redemptions will be done in accordance with procedures of the DTC. It is City Council Regular Meeting - Page 728 of 788

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the City’s intent that redemption allocations made by DTC be made in accordance with the proportional provisions described in the Indenture. However, neither the City nor the Trustee has a duty to assure, and can provide no assurance, that DTC will allocate redemptions among Beneficial Owners (as defined in the Indenture) on such a proportional basis, and neither the City nor the Trustee shall have any liability whatsoever to Beneficial Owners in the event redemptions are not done on a proportionate basis for any reason. If an Event of Default occurs under and as defined in the Indenture, the principal of all Bonds may be declared due and payable upon the conditions, in the manner and with the effect provided in the Indenture, but such declaration and its consequences may be rescinded and annulled as further provided in the Indenture. This Bond is transferable by the Registered Owner hereof, in person or by his attorney duly authorized in writing, at said corporate trust office of the Trustee in Saint Paul, Minnesota, or such other place as designated by the Trustee, but only in the manner, subject to the limitations and upon payment of the charges provided in the Indenture, and upon surrender and cancellation of this Bond. Upon registration of such transfer a new Bond or Bonds, of authorized denomination or denominations, for the same aggregate principal amount and of the same maturity will be issued to the transferee in exchange herefor. The City and the Trustee may treat the Registered Owner hereof as the absolute owner hereof for all purposes, and the City and the Trustee shall not be affected by any notice to the contrary. It is hereby certified that all of the things, conditions and acts required to exist, to have happened or to have been performed precedent to and in the issuance of this Bond do exist, have happened or have been performed in due and regular time, form and manner as required by the laws of the State of California and that the amount of this Bond, together with all other indebtedness of the City, does not exceed any limit prescribed by any laws of the State of California, and is not in excess of the amount of Bonds permitted to be issued under the Indenture. Unless this Bond is presented by an authorized representative of The Depository Trust Company, a New York corporation (“DTC”), to the Trustee for registration of transfer, exchange, or payment, and any certificate issued is registered in the name of Cede & Co. or in such other name as is requested by an authorized representative of DTC (and any payment is made to Cede & Co. or to such other entity as is requested by an authorized representative of DTC), ANY TRANSFER, PLEDGE, OR OTHER USE HEREOF FOR VALUE OR OTHERWISE BY OR TO ANY PERSON IS WRONGFUL inasmuch as the registered owner hereof, Cede & Co., has an interest herein. This Bond is not entitled to any benefit under the Indenture and is not valid or obligatory for any purpose until the certificate of authentication hereon endorsed has been signed by the Trustee.

City Council Regular Meeting - Page 729 of 788

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IN WITNESS WHEREOF, the CITY OF LYNWOOD has caused this Bond to be executed in its name and on its behalf with the facsimile signature of its City Manager and to be attested to by the facsimile signature of its City Clerk, all as of the Original Issue Date specified above. CITY OF LYNWOOD By City Manager Attest: City Clerk FORM OF TRUSTEE’S CERTIFICATE OF AUTHENTICATION This is one of the Bonds described in the within-mentioned Indenture. Dated: U.S. BANK TRUST COMPANY, NATIONAL ASSOCIATION, as Trustee By Authorized Signatory City Council Regular Meeting - Page 730 of 788

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FORM OF ASSIGNMENT For value received the undersigned hereby sells, assigns and transfers unto __________________________________ whose address and social security or other tax identifying number is ____________________, the within-mentioned Bond and hereby irrevocably constitute(s) and appoint(s) ________________________________________ attorney, to transfer the same on the registration books of the Trustee with full power of substitution in the premises. Dated: Signature Guaranteed: Note: Signature(s) must be guaranteed by an eligible guarantor institution. Note: The signature(s) on this Assignment must correspond with the name(s) as written on the face of the within Bond in every particular without alteration or enlargement or any change whatsoever.

City Council Regular Meeting - Page 731 of 788
Agenda Item # 28.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Mir T. Fattahi, Acting City Engineer

Lorry Hempe, Public Works Special Projects Manager

SUBJECT:

TRAFFIC SIGNAL AT IMPERIAL HIGHWAY AND RUTH AVENUE
Recommendation:

Staff recommends that the City Council adopt the attached resolution entitled: “

A RESOLUTION OF THE CITY

COUNCIL OF THE CITY OF LYNWOOD APPROVING

THE APPROPRATION FROM ARPA FUND
(FUND 1055) IN THE AMOUNT OF $1,001,350 FOR THE INSTALLATION OF A NEW TRAFFIC SIGNAL

AT THE INTERSECTION OF IMPERIAL HIGHWAY AND RUTH AVENUE .”

Background:

Willdan Engineering prepared a traffic signal warrant analysis for the intersection of Imperial Highway and Ruth Avenue. In conformance to the California Manual on Uniform Traffic Control Devices, the analysis looked into the current traffic conditions at the intersection of Imperial Highway and Ruth Avenue and determined whether a traffic signal is justified at that intersection.

Discussion and Analysis:

The intersection of Imperial Highway and Ruth Avenue is a T-intersection that is currently stop controlled on the North (Southbound) approach on Ruth Avenue. Imperial Highway runs east-west, while Ruth Avenue runs north- south. (Attachment A)
Imperial Highway is a 72-foot-wide arterial roadway with two lanes in each direction and a left turn lane running through the intersection. On-street parking is permitted on both sides of the roadway except where there is painted red curb. The posted speed limit is 40 miles per hour (mph). There is a yellow-painted diagonal school crosswalk across Imperial Highway at the East side of the intersection. Additionally, from the Westbound approach (East side), there is an overhead flashing beacon alerting motorists to the school crossing.

California Department of Transportation (Caltrans) has issued the California Manual on Uniform Traffic Control Devices (CA MUTCD). The CA MUTCD provides uniform standards and specifications for all official traffic control devices in California. Applying the standards set forth under the CA MUTCD, Willdan Engineering City Council Regular Meeting - Page 732 of 788
recommends the installation of a traffic signal based on the Peak Hour Volume Warrant and the Crash Experience traffic warrant.

Project Scope: Design and installation of a traffic signal.

Project Location: Intersection of Imperial Highway and Ruth Avenue

After the award of contract, there will be an approximate 6 month wait for parts after award of contract.

Fiscal Impact:

Staff estimates the Project cost at $1,001,350. The following table shows the Project cost breakdown:

Amount
Design
$30,000
Environmental Planning
$1,000
Construction
$675,000
Contingency at 15%
$101,250
Project and Construction
Management at 15%
$101,250
Labor at 1%
$6,750
Advertising
$600
Inspection at 12%
$81,000
Design (Project Management)
$4,500

Total Proposed Expenditure
$1,001,350

Staff requests the following appropriation to move forward with the Project:

Appropriation
Fund
Dept
Div
Object
Description
Amount
Budgetary Transfer Out
1055
ARPA
$1,001,350
Budgetary Transfer In
4011
To Be
Determined
Imperial Hwy and
Ruth Ave. Intersection
Signal Installation
$1,001,350

Coordinated With:

City Attorney
Finance & Administration
City Council Regular Meeting - Page 733 of 788
ATTACHMENTS:

Description
Attachment A
Imperial & Ruth Traffic Study
Resolution
City Council Regular Meeting - Page 734 of 788

ATTACHMENT A

City Council Regular Meeting - Page 735 of 788

February 22, 2022

Thomas W. Thornton, P.E.

Director of Public Works
City of Lynwood
11330 Bullis Road
Lynwood, CA 90262

Subject: Traffic Signal Warrant Analysis for the Intersection of Imperial Highway and Ruth Avenue

Willdan Engineering is pleased to submit this traffic signal warrant analysis study for the intersection of Imperial Highway and Ruth Avenue in the City of Lynwood. This analysis is based on the combination of the existing traffic conditions at the intersection and on the guidelines presented in the California Manual on Uniform Traffic Control Devices (CA - MUTCD) dated November 2014 Rev 6 (March 30, 2021).

EXISTING CONDITIONS

Imperial Highway is a 72-foot-wide arterial roadway with two lanes in each direction and a left turn lane running through the intersection . On-street parking is permitted on both sides of the roadway except where there is painted red curb. The posted speed limit is 40 miles per hour (mph). There is a yellow -painted diagonal school crosswalk across Imperial Highway at the East side of the intersection. Additionally, from the Westbound

City Council Regular Meeting - Page 736 of 788
City of Lynwood
Traffic Signal Warrant Analysis Imperial Highway & Ruth Avenue February 22, 2022

Page 2 ends

approach (East side) , there is an overhead flashing beacon alerting motorists to the school crossing. It is approximately 180 feet East of the crosswalk.

Ruth Avenue is a 28-foot-wide unstriped roadway with one lane in each direction and allows parking on both sides of the road. The prima facie speed limit is 25 mph. There is a yellow -painted diagonal school cr osswalk at the Stop -controlled intersection across Ruth Avenue at the North leg of the intersection.

Just southeast of the study intersection is another T-intersection of Imperial Highway and Stockwell Drive. Stockwell Drive is stop -controlled at Imperial Highway and Northbound vehicles are restricted to right turns onto Eastbound Imperial Highway. Just West of the study intersection, the approach Imperial Highway splits. Imperial Highway continues in the southeasterly approach and the northeasterly approach becomes the westbound approach of Norton Avenue. There is a median island where the roadway splits.

DATA

Traffic Counts

Twenty-four (24) hour approach counts were collected for the intersection of Imperial Highway at Ruth Avenue on Tuesday, September 14, 202 1. The following table summarizes the data collected and Attachment A summarizes the 24 -hour approach counts.

Imperial Highway Approach Volume AM Peak Hour PM Peak Hour Eastbound 14,690 794 (8:00 AM) 1,078 (5:00 PM)
Westbound 13,104 1,582 (7:00 AM) 904 (3:00 PM)

Ruth Avenue Approach Volume AM Peak Hour PM Peak Hour
Southbound 484 152 (8:00 AM) 44 (2:00 PM)

Collision Data

Collision data was obtained from the California Highway Patrol’s Statewide Integrated Traffic Records System (SWITRS) and the Los Angeles County Sheriff’s Department collision database. For this warrant, collision data was analyzed from January 1, 2018 to December 31, 2020. During this period, 10 collisions were reported within the vicinity of the study intersection.

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City of Lynwood
Traffic Signal Warrant Analysis Imperial Highway & Ruth Avenue February 22, 2022

Page 3 ends

Primary
Road
Secondary
Road Distance Date Time Collision
Type
Norton
Avenue
Imperial
Highway
At
Intersection 4/6/2019 4:55 AM Broadside
Imperial
Highway
Stockwell
Drive
At
Intersection 5/7/2019 8:30 AM Broadside
Imperial
Highway Ruth Avenue At
Intersection 6/21/2019 11:57 PM Sideswipe
Imperial
Highway
Norton
Avenue
At
Intersection 10/29/19 6:59 PM Broadside
Imperial
Highway
Norton
Avenue
At
Intersection 11/22/19 10:00 AM Head On
Imperial
Highway Ruth Avenue 5 feet West 12/20/2019 8:40 AM Rear End Imperial
Highway Ruth Avenue 5 feet West 10/8/20 10:55 AM Sideswipe Imperial
Highway Ruth Avenue 50 feet West 1/30/20 4:00 PM Sideswipe Imperial
Highway
Stockwell
Drive
At
Intersection 3/5/20 1:50 AM Automobile-
Pedestrian
Imperial
Highway
Norton
Avenue
At
Intersection 8/11/20 3:55 PM Broadside

Delay Study

A delay study was conducted on Thursday, September 16, 2021, from 8:00 AM to 9:00 AM for the southbound approach of Ruth Avenue at the intersection with Imperial Highway. The delay study recorded the amount of time in seconds required for a vehicle to wait at the North approach to turn onto Imperial Highway. The total delay time was 2,095 seconds (34 minutes and 55 seconds). Attachment B summarizes the delay study data.

Pedestrian Study

A peak-hour pedestrian study was conducted on Tuesday, September 14, 2021, at the intersection of Imperial Highway at Ruth Avenue and Imperial Highway at Stockwell Drive.

The AM peak-hour was from 7:00 AM – 9:00 AM and the PM peak -hour was from 3:00 PM – 5:00 PM. The pedestrian study recorded how many people crossed the roadway at each leg of the intersection. The data was broken into two categories: adults and school age children. Attachment C summarizes the pedestrian study data.

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City of Lynwood
Traffic Signal Warrant Analysis Imperial Highway & Ruth Avenue February 22, 2022

Page 4 ends

AM Peak Hours: 7:00 AM – 9:00 AM

Direction
Ruth Ave
North Leg

(Stop-Controlled
Crosswalk)
Stockwell Dr
South Leg
Imperial Hwy
East Leg

(Uncontrolled
Crosswalk)
Imperial Hwy
West Leg Total
Adults 18 21 43 0 82
School-
Aged 17 10 41 0 68
Total 35 31 84 0 150

PM Peak Hours: 3:00 PM – 5:00 PM

Direction
Ruth Ave
North Leg

(Stop-Controlled
Crosswalk)
Stockwell Dr
South Leg
Imperial Hwy
East Leg

(Uncontrolled
Crosswalk)
Imperial Hwy
West Leg Total
Adults 20 14 29 0 63
School-
Aged 16 19 47 0 82
Total 36 33 76 0 145

TRAFFIC ANALYSIS

The results of the analysis of the CA MUTCD traffic signal warrants as they apply to the intersection of Imperial Highway and Ruth Avenue are summarized below. The CA - MUTCD states that an intersection can be analyzed at a 70% reduction factor if the major street has a critical speed over 40 MPH. The major street, Imperial Highway has a posted speed limit of 40 MPH; therefore, the 70% reduction factor was not used in the following traffic signal warrant study. Attachment D provides the completed traffic signal warrant analysis.

• Warrant 1 – Eight-Hour Vehicular Volume = Not Satisfied • Warrant 2 – Four Hour Vehicular Volume Traffic = Not Satisfied City Council Regular Meeting - Page 739 of 788
City of Lynwood
Traffic Signal Warrant Analysis Imperial Highway & Ruth Avenue February 22, 2022

Page 5 ends

• Warrant 3 – Peak Hour = Satisfied
• Warrant 4 – Pedestrian Volume = Not Satisfied
• Warrant 5 – School Crossing = Not Satisfied
• Warrant 6 – Coordinated Signal Systems = Not Satisfied • Warrant 7 – Crash Experience = Satisfied
• Warrant 8 – Roadway Network = Not Satisfied
• Warrant 9 – Intersection Near Grade Crossing = Not Applicable

Traffic Signal Warrant Discussion

Warrant 1 is the Eight-Hour Vehicular Volume warrant and consists of two different conditions that can be met for the warrant to be satisfied. The Minimum Vehicle Volume warrant, Condition A, is intended for application at locations where a large volume of intersecting traffic is the principal reason for consideration of a signal installation. The Interruption of Continuous Traffic, Condition B, is intended for application at locations where Condition A is not satisfied and where traffic volume on a major street is so heavy that the traffic on a minor intersection street suffers excessive delay or conflict in entering or crossing the major street.

Under Condition A, the intersection traffic volumes for the major street, Imperial Highway, satisfies the required volume of 420 vehicles. However, the highest approach on the minor street, Ruth Avenue, did not satisfy the required 1 05 vehicles for each of any 8 hours of an average day. Therefore, condition A of the Eight -Hour Vehicular Volume warrant was not satisfied.

Under Condition B, the intersection traffic volumes for the major street, Imperial Highway, does not satisfy the required volume of 630 vehicles. The highest approach on the minor street, Ruth Avenue, also does not satisfy the required volume of 53 vehicles each of the 8 hours of an average day. Therefore, condition B of the Eight -Hour Vehicular Volume warrant is not satisfied as shown in Attachment D.

Therefore, Warrant 1 is not satisfied.

Warrant 2 is the Four-Hour Vehicular Volume warrant and is intended to be applied where the volume of intersection traffic is the principal reason to consider installing a traffic control signal. The warrant is satisfied when, each of any four hours of an average d ay, the plotted points representing the vehicles per hour on the major street (total of both approaches) and the corresponding vehicles per hour on the higher volume minor street approach (one direction only) all fall above the curve shown on Attachment D, Figure 4C-2 for any of the existing combination of approach lanes. The lower threshold volume for a minor street approach with one lane is 60 vehicles per hour during each of the four hours studied. For the intersection of Imperial Highway and Ruth Avenue, all the plotted points fall below the applicable curve in Attachment D, Figure 4C-2.

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City of Lynwood
Traffic Signal Warrant Analysis Imperial Highway & Ruth Avenue February 22, 2022

Page 6 ends

Therefore, Warrant 2 is not satisfied.

Warrant 3 is the Peak Hour warrant and consist s of two parts. The need for a traffic control signal shall be considered if either Part A or Part B is satisfied. The Peak Hour warrant is intended for use at locations where traffic conditions are such that for a minimum of 1 hour of an average day, the minor street tr affic suffers undue delay when entering or crossing the major street.

Part A of this warrant is satisfied when the delay experienced by the traffic on the minor street exceeds four vehicle-hours, the volume on the minor street exceeds 10 0 vehicles per hour, and the total volume entering the intersection exceeds 800 vehicles per hour for the same one-hour period of an average day. The peak hour delay for the minor street, Ruth Avenue, occurred at 8:00 am with a total delay of 0.6 hours. Based on our data and observations, the minor street does not experience four vehicle-hours of delay. This does not satisfy 1 of the 3 conditions of Part A. The highest volume on the minor street is 152 vehicles per hour which does satisfy the second condition of Part A. The total volume of traffic entering the intersection is 1,962 which satisfies the third condition of Part A . All conditions of Part A must be satisfied, therefore Part A is not satisfied.

Part B of this warrant is satisfied when the plotted points representing the vehicles per hour on the major street (total of both approaches) and the corresponding vehicles per hour on the higher-volume minor-street approach (one direction only) for 1 hour (any four consecutive 15 -minute periods) of an average day falls above the curve shown on Attachment D, Figure 4C-4 for the existing combination of approach lanes. The lower threshold volume for a minor street approach with one lane is 75 vehicles per hour. For the intersection of Imperial Highway and Ruth Avenue , the highest hourly approac h volume for the minor street is 152 vehicles and falls above the curve shown on Attachment D, Figure 4C-4. Therefore, Part B is satisfied.

Therefore, Warrant 3 is satisfied.

Warrant 4 is the Pedestrian Volume warrant and either Part A or Part B must be satisfied.

The Pedestrian Volume warrant is intended for application s where the traffic volume on a major street is so heavy that pedestrians experience excessive delay in crossing the major street.

Part A of this warrant is satisfied when for each of any 4 hours of an average day, the plotted points representing the vehicles per hour on the major street (to tal of both approaches) and the corresponding pedestrians per hour crossing the major street (total of all crossings) fall above the curve shown on Attachment D, Figure 4C -6. The lower threshold volume for pedestrians crossing the major street is 75 pedestrians per hour.

Two of the four hours did not satisfy the minimum requirements for pedestrians crossing the primary roadway, Imperial Highway , over the course of the four highest hours on September 14, 2021. Therefore Part A is not satisfied.

City Council Regular Meeting - Page 741 of 788
City of Lynwood
Traffic Signal Warrant Analysis Imperial Highway & Ruth Avenue February 22, 2022

Page 7 ends

Part B of the warrant is satisfied when for 1 hour (any four consecutive 15-minute periods) of an average day, the plotted point representing the vehicles per hour on the major street (total of both approaches) and the corresponding pedestrians per hour crossing the major street (total of all crossings) falls above the curve in Attachment D, Figure 4C-8. The lower threshold volume for pedestrians crossing the major street is 93 pedestrians per hour. For the intersection of Imperial Highway and Ruth Avenue , the highest hourly crossing volume is 80 pedestrians per hour and falls below the curve shown on Attachment D, Figure 4C-8. Therefore, Part B is not satisfied. Neither Part A nor Part B is satisfied.

Therefore, Warrant 4 is not satisfied.

Warrant 5 is the School Crossing warrant and Parts A and B must be satisfied. The School Crossing warrant is intended for application s where school children cross the major street is the principal reason for installing a traffic signal. There is a school crossing on the east leg of the intersection connecting students residing south of Imperial Highway to get to Roosevelt Elementary School. The intersection is about 600 feet from the school.

School crossing data was collected on Thursday, September 14, 2021. There w ere 39 school children that crossed at the painted school crosswalk on the east leg of the intersection of Imperial Highway and Ruth Avenue between 8 AM and 9 AM . However, the number of gaps was not observed at this time.

Therefore, Warrant 5 is not satisfied.

Warrant 6 is the Coordinated Signal System warrant and is intended to maintain proper platooning of vehicles. This warrant is satisfied if the distance to adjacent signalized intersections is greater than 1,000 feet and these adjacent signals do not provide adequate platooning and a proposed traffic control signal will provide a progressive signal operation. The adjacent signal on Imperial Highway west of Ruth Avenue is approximately 670 feet away from the study intersection.

Therefore, Warrant 6 is not satisfied.

Warrant 7 is the Crash Experience warrant and is intended for application where the severity and frequency of crashes are the principal reasons to consider installing a traffic control signals. To satisfy this warrant, Parts A, B, and C must be satisfied.

Part A of the warrant is satisfied when adequate trial of alternatives with satisfactory observance and enforcement has failed to reduce the crash frequency. The crosswalk at Imperial Highway has 2 hybrid pedestrian beacons approximately 180 feet in advance of the intersection for each approach of the primary roadway, a yellow school crossing, school crossing signs, and school crossing street legends. These four el ements alert drivers to an intersection with a school crossing. Adequate trial of alternatives have failed to reduce the crash frequency, therefore Part A is satisfied.

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City of Lynwood
Traffic Signal Warrant Analysis Imperial Highway & Ruth Avenue February 22, 2022

Page 8 ends

Part B of the warrant is satisfied when 5 or more reported collisions susceptible to correction by a traffic signal have occurred within a 12-month period. The collision data collected from January 1, 2018 to December 31, 2020 reported 10 collisions occurring at the intersection. There were 8 correctable crashes between the 12-month period of April 1, 2019 to March 31, 2020. Therefore, Part B is satisfied.

Part C of the warrant is satisfied when one condition from either Warrant 1 or Warrant 4 is 80% satisfied. The intersection also has a peak hour volume for pedestrian s crossing the major route of 80 pedestrians crossing from 8 AM to 9 AM. This meets the 80% minimum volume of 74 pedestrians crossing for the peak hour volume of pedestrians crossing the major route. Therefore Part C is satisfied. Parts A, B, and C are satisfied.

Therefore, Warrant 7 is satisfied.

Warrant 8 is the Roadway Network warrant and is intended to encourage concentration and organization of traffic flow on a roadway network. This warrant analyzes the peak hour volumes of the entire intersection and the characteristics of each roadway. This warrant requires the peak hour volume of all approaches to be greater than 1,000 vehicles per hour. The intersection of Imperial Highway at Ruth Avenue has a total peak hour approach volume of 1,962 vehicles for 8:00 am to 9:00 am, which satisfies the peak hour volume part of the warrant. However, the roadway characteristics of Ruth Avenue do not satisfy the major route requirements.

Therefore, Warrant 8 is not satisfied.

Warrant 9 is the Intersection Near a Grade Crossing warrant and is intended for use when signal Warrants 1 through 8 are not met, but the proximity of a grade crossing is the principal reason to installing a traffic control signal. There is no grade crossing in proximity to the intersection of Imperial Highway and Ruth Avenue.

Therefore, Warrant 9 is not applicable and not analyzed.

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City of Lynwood
Traffic Signal Warrant Analysis Imperial Highway & Ruth Avenue February 22, 2022

Page 9 ends

RECOMMENDATIONS

This traffic signal warrant study is satisfied based on the Peak Hour Volume warrant (Warrant 3) and the Crash Experience traffic warrant (Warrant 7) . T herefore, we recommend the installation of a new traffic signal at the intersection of Imperial Highway and Ruth Avenue.

In the interim before the installation of the traffic signal, the following improvement s can be made at the uncontrolled school crossing at the study intersection:

• Update the school crossing signs to be compliant with the current CA MUTCD approaching the crossing and at the crossing
• Install additional school crossing signs on the back sides of the signposts at the crossing due to the curvature of the roadway on Imperial Highway • Install a new curb ramp on the Southside of the uncontrolled crossing • Update the existing curb ramp on the N orthside of the uncontrolled crossing to comply with ADA requirements
• Install yield lines on Imperial Highway that are 20-50 feet from the crossing for both approaches and install R1-5 (‘Yield Here to Pedestrians’) at yield line for both approaches

Due to the study intersection’s proximity to Norton Avenue and Stockwell Drive, th ese roadways will need to be included as part of the signalized intersection which would make this location a 5-legged intersection. A project cost estimate is shown in the table below:

New Traffic Signal Installation Cost Estimate

Description Cost
Engineering Design $30,000
Construction $675,000
Construction Management
& Inspection $35,000
Total $740,000

City Council Regular Meeting - Page 744 of 788
City of Lynwood
Traffic Signal Warrant Analysis Imperial Highway & Ruth Avenue February 22, 2022

Page 10 ends

Thank you for the opportunity to be of continuing service to the City of Lynwood. Should you have any questions regarding this evaluation, please contact me at (562) 368-4864.

Respectfully submitted,

WILLDAN ENGINEERING

Nicolle Spann, PE, TE
Traffic Engineer

Attachments
A – 24 Hour Approach Counts
B – Delay Study Data
C – Pedestrian Study Data
D – Traffic Signal Warrants Analysis

109478/R02

City Council Regular Meeting - Page 745 of 788

Attachment A

24 Hour Approach Counts

City Council Regular Meeting - Page 746 of 788
City Traffic Counters
www.ctcounters.com Imperial Highway
E/O Ruth Avenue

Page 1 ends

Start 14-Sep-21 West Hour Totals
Time Tue Morning Afternoon Morning Afternoon
12:00 48 168
12:15 27 185
12:30 25 192
12:45 24 197 124 742
01:00 24 207
01:15 14 178
01:30 15 190
01:45 21 199 74 774
02:00 13 201
02:15 14 198
02:30 13 207
02:45 9 223 49 829
03:00 11 178
03:15 22 238
03:30 23 245
03:45 19 243 75 904
04:00 27 225
04:15 47 219
04:30 60 196
04:45 57 211 191 851
05:00 61 209
05:15 83 255
05:30 116 213
05:45 114 225 374 902
06:00 141 215
06:15 181 203
06:30 263 192
06:45 320 209 905 819
07:00 346 203
07:15 411 187
07:30 424 148
07:45 401 154 1582 692
08:00 344 151
08:15 287 168
08:30 280 130
08:45 257 112 1168 561
09:00 201 103
09:15 192 121
09:30 232 86
09:45 224 87 849 397
10:00 196 71
10:15 167 75
10:30 164 64
10:45 155 65 682 275
11:00 155 50
11:15 180 52
11:30 155 41
11:45 200 38 690 181
Total 6763 7927
Percent 46.0% 54.0%
Grand Total 6763 7927
Percent 46.0% 54.0%
ADT ADT 14,690 AADT 14,690
City Council Regular Meeting - Page 747 of 788
City Traffic Counters
www.ctcounters.com Imperial Highway
W/O Ruth Avenue

Page 1 ends

Start 14-Sep-21 East Hour Totals
Time Tue Morning Afternoon Morning Afternoon
12:00 29 163
12:15 36 176
12:30 36 154
12:45 29 182 130 675
01:00 28 188
01:15 17 200
01:30 20 210
01:45 16 206 81 804
02:00 13 228
02:15 18 234
02:30 26 275
02:45 20 256 77 993
03:00 22 258
03:15 22 259
03:30 30 265
03:45 39 252 113 1034
04:00 29 257
04:15 49 248
04:30 32 272
04:45 49 253 159 1030
05:00 45 284
05:15 60 239
05:30 89 304
05:45 75 251 269 1078
06:00 75 269
06:15 92 174
06:30 139 217
06:45 136 191 442 851
07:00 166 203
07:15 140 159
07:30 199 212
07:45 211 178 716 752
08:00 209 133
08:15 203 122
08:30 208 107
08:45 174 96 794 458
09:00 160 86
09:15 141 106
09:30 157 82
09:45 149 77 607 351
10:00 144 82
10:15 142 62
10:30 149 59
10:45 165 43 600 246
11:00 152 49
11:15 159 50
11:30 172 34
11:45 190 38 673 171
Total 4661 8443
Percent 35.6% 64.4%
Grand Total 4661 8443
Percent 35.6% 64.4%
ADT ADT 13,104 AADT 13,104
City Council Regular Meeting - Page 748 of 788
City Traffic Counters
www.ctcounters.com Ruth Avenue
N/O Imperial Highway

Page 1 ends

Start 14-Sep-21 South Hour Totals
Time Tue Morning Afternoon Morning Afternoon
12:00 0 1
12:15 0 5
12:30 2 2
12:45 0 3 2 11
01:00 1 7
01:15 1 5
01:30 0 8
01:45 0 7 2 27
02:00 0 3
02:15 0 8
02:30 0 13
02:45 0 20 0 44
03:00 0 54
03:15 0 9
03:30 0 3
03:45 0 7 0 73
04:00 0 6
04:15 3 7
04:30 0 2
04:45 1 5 4 20
05:00 0 4
05:15 5 2
05:30 3 2
05:45 2 2 10 10
06:00 2 10
06:15 3 2
06:30 3 2
06:45 5 4 13 18
07:00 1 3
07:15 3 1
07:30 4 3
07:45 7 4 15 11
08:00 28 0
08:15 38 0
08:30 56 3
08:45 30 1 152 4
09:00 5 3
09:15 5 1
09:30 4 0
09:45 2 4 16 8
10:00 1 2
10:15 6 3
10:30 0 0
10:45 4 2 11 7
11:00 10 0
11:15 5 1
11:30 1 1
11:45 7 1 23 3
Total 248 236
Percent 51.2% 48.8%
Grand Total 248 236
Percent 51.2% 48.8%
ADT ADT 484 AADT 484
City Council Regular Meeting - Page 749 of 788

ATTACHMENT B

Delay Study Data

City Council Regular Meeting - Page 750 of 788
File Name : StopSignDelay_RuthAve@ImperialHwy_SB
Site Code : 00000000
Start Date : 9/16/2021
Page No : 1
L
n.

No. Joined Queue Released From
Queue
Delay
1 1 7:59:01 AM 8:00:09 AM 68
1 2 7:59:12 AM 8:00:19 AM 67
1 3 8:00:16 AM 8:00:37 AM 21
1 4 8:00:55 AM 8:01:01 AM 6
1 5 8:01:11 AM 8:01:13 AM 2
1 6 8:01:38 AM 8:01:44 AM 6
1 7 8:02:08 AM 8:02:18 AM 10
1 8 8:03:04 AM 8:03:11 AM 7
1 9 8:03:09 AM 8:03:14 AM 5
1 10 8:03:46 AM 8:04:03 AM 17
1 11 8:03:53 AM 8:04:26 AM 33
1 12 8:04:07 AM 8:04:28 AM 21
1 13 8:04:12 AM 8:04:32 AM 20
1 14 8:04:41 AM 8:04:41 AM 0
1 15 8:04:50 AM 8:05:16 AM 26
1 16 8:04:52 AM 8:05:21 AM 29
1 17 8:05:46 AM 8:05:54 AM 8
1 18 8:06:01 AM 8:06:11 AM 10
1 19 8:06:15 AM 8:06:18 AM 3
1 20 8:07:08 AM 8:07:15 AM 7
1 21 8:07:38 AM 8:07:41 AM 3
1 22 8:08:07 AM 8:08:19 AM 12
1 23 8:08:43 AM 8:08:49 AM 6
1 24 8:10:09 AM 8:10:21 AM 12
1 25 8:10:22 AM 8:10:27 AM 5
1 26 8:10:39 AM 8:10:42 AM 3
1 27 8:11:48 AM 8:12:00 AM 12
1 28 8:12:58 AM 8:13:07 AM 9
1 29 8:13:03 AM 8:13:11 AM 8
1 30 8:13:41 AM 8:14:08 AM 27
1 31 8:13:56 AM 8:14:09 AM 13
1 32 8:14:01 AM 8:14:11 AM 10
1 33 8:14:26 AM 8:14:27 AM 1
1 34 8:14:56 AM 8:15:18 AM 22
1 35 8:15:27 AM 8:15:49 AM 22
1 36 8:15:44 AM 8:15:57 AM 13
1 37 8:15:52 AM 8:15:59 AM 7
1 38 8:16:01 AM 8:16:14 AM 13
1 39 8:16:04 AM 8:16:19 AM 15
1 40 8:16:38 AM 8:16:45 AM 7
1 41 8:18:30 AM 8:18:40 AM 10
1 42 8:18:44 AM 8:18:55 AM 11
1 43 8:19:39 AM 8:20:05 AM 26
1 44 8:19:49 AM 8:20:07 AM 18
1 45 8:20:09 AM 8:20:15 AM 6
1 46 8:21:09 AM 8:21:30 AM 21
1 47 8:21:22 AM 8:22:48 AM 86
1 48 8:21:56 AM 8:22:51 AM 55
1 49 8:22:31 AM 8:22:56 AM 25
1 50 8:22:45 AM 8:23:00 AM 15
1 51 8:24:07 AM 8:24:17 AM 10
1 52 8:25:06 AM 8:25:17 AM 11
1 53 8:25:46 AM 8:25:49 AM 3
1 54 8:25:57 AM 8:26:08 AM 11
1 55 8:26:17 AM 8:26:48 AM 31
1 56 8:26:46 AM 8:26:56 AM 10
1 57 8:27:09 AM 8:27:15 AM 6
1 58 8:28:20 AM 8:30:04 AM 104
1 59 8:28:38 AM 8:30:05 AM 87
1 60 8:29:59 AM 8:30:08 AM 9
1 61 8:30:12 AM 8:30:34 AM 22
1 62 8:30:26 AM 8:30:42 AM 16
1 63 8:30:45 AM 8:30:50 AM 5
1 64 8:30:47 AM 8:30:54 AM 7
1 65 8:31:04 AM 8:31:49 AM 45
1 66 8:32:01 AM 8:32:05 AM 4
1 67 8:32:13 AM 8:32:19 AM 6
1 68 8:32:16 AM 8:32:23 AM 7
1 69 8:32:23 AM 8:32:30 AM 7
1 70 8:32:50 AM 8:32:54 AM 4

CITY TRAFFIC COUNTERS
WWW.CTCOUNTERS.COM
City Council Regular Meeting - Page 751 of 788
File Name : StopSignDelay_RuthAve@ImperialHwy_SB
Site Code : 00000000
Start Date : 9/16/2021
Page No : 2
L
n.

No. Joined Queue Released From
Queue
Delay
1 71 8:33:01 AM 8:33:08 AM 7
1 72 8:33:29 AM 8:33:40 AM 11
1 73 8:34:40 AM 8:35:02 AM 22
1 74 8:34:56 AM 8:35:06 AM 10
1 75 8:35:24 AM 8:35:51 AM 27
1 76 8:35:27 AM 8:35:53 AM 26
1 77 8:35:46 AM 8:36:27 AM 41
1 78 8:36:02 AM 8:36:31 AM 29
1 79 8:36:03 AM 8:36:34 AM 31
1 80 8:36:04 AM 8:36:38 AM 34
1 81 8:36:40 AM 8:36:45 AM 5
1 82 8:37:26 AM 8:37:39 AM 13
1 83 8:37:52 AM 8:38:05 AM 13
1 84 8:38:57 AM 8:39:03 AM 6
1 85 8:39:01 AM 8:39:08 AM 7
1 86 8:39:10 AM 8:39:13 AM 3
1 87 8:39:11 AM 8:39:16 AM 5
1 88 8:39:15 AM 8:39:55 AM 40
1 89 8:40:02 AM 8:40:14 AM 12
1 90 8:40:42 AM 8:40:52 AM 10
1 91 8:41:01 AM 8:41:07 AM 6
1 92 8:41:04 AM 8:41:12 AM 8
1 93 8:41:13 AM 8:41:18 AM 5
1 94 8:41:48 AM 8:41:50 AM 2
1 95 8:42:21 AM 8:42:47 AM 26
1 96 8:42:27 AM 8:42:48 AM 21
1 97 8:42:33 AM 8:42:52 AM 19
1 98 8:42:54 AM 8:43:00 AM 6
1 99 8:42:58 AM 8:43:02 AM 4
1 100 8:43:52 AM 8:44:06 AM 14
1 101 8:44:38 AM 8:44:49 AM 11
1 102 8:44:40 AM 8:44:55 AM 15
1 103 8:45:13 AM 8:45:50 AM 37
1 104 8:45:17 AM 8:46:06 AM 49
1 105 8:45:47 AM 8:46:20 AM 33
1 106 8:45:55 AM 8:46:25 AM 30
1 107 8:46:38 AM 8:46:50 AM 12
1 108 8:47:21 AM 8:47:46 AM 25
1 109 8:47:41 AM 8:47:56 AM 15
1 110 8:48:32 AM 8:48:44 AM 12
1 111 8:48:40 AM 8:48:50 AM 10
1 112 8:49:19 AM 8:49:51 AM 32
1 113 8:50:38 AM 8:50:47 AM 9
1 114 8:50:41 AM 8:50:56 AM 15
1 115 8:50:49 AM 8:51:03 AM 14
1 116 8:52:48 AM 8:52:54 AM 6
1 117 8:56:11 AM 8:56:37 AM 26
1 118 8:56:41 AM 8:56:46 AM 5
1 119 8:58:51 AM 8:59:03 AM 12
Summary Information:
7:59:00 AM - 9:00:00 AM Southbound
Total Vehicle Count: 119
Delayed Vehicle Count: 119
Through Vehicle Count: 0
Average Stopped Time: 17.61
Maximum Stopped Time: 104
Min. Secs. for Delay: 0
Average Queue: 0.58
Queue Density: 1.46
Maximum Queue: 4
Delay in Vehicle Hour: 0.58
Total Delay: 2095

CITY TRAFFIC COUNTERS
WWW.CTCOUNTERS.COM
City Council Regular Meeting - Page 752 of 788

ATTACHMENT C

Pedestrian Study Data

City Council Regular Meeting - Page 753 of 788
File Name : Ruth_ImperialHwy_Pedestrians
Site Code : 00000000
Start Date : 9/14/2021
Page No : 1
Groups Printed- Pedestrians
Stockwell Dr
South Leg
Imperial Highway
West Leg
Ruth Ave
North Leg
Imperial Highway
East Leg
Start Time School-Age Adults App. Total School-Age Adults App. Total School-Age Adults App. Total Thru Peds App. Total Int. Total 07:00 AM 0 2 2 0 0 0 1 0 1 0 0 0 3
07:15 AM 0 1 1 0 0 0 4 3 7 0 0 0 8
07:30 AM 1 1 2 0 0 0 2 3 5 0 1 1 8
07:45 AM 0 0 0 0 0 0 1 2 3 2 1 3 6
Total 1 4 5 0 0 0 8 8 16 2 2 4 25
08:00 AM 0 0 0 0 0 0 3 1 4 5 3 8 12
08:15 AM 2 6 8 0 0 0 2 2 4 8 10 18 30
08:30 AM 6 8 14 0 0 0 4 6 10 22 21 43 67
08:45 AM 1 3 4 0 0 0 0 1 1 4 7 11 16
Total 9 17 26 0 0 0 9 10 19 39 41 80 125
03:00 PM 10 6 16 0 0 0 9 8 17 39 25 64 97
03:15 PM 3 2 5 0 0 0 3 2 5 6 3 9 19
03:30 PM 2 1 3 0 0 0 0 3 3 0 1 1 7
03:45 PM 4 0 4 0 0 0 3 3 6 2 0 2 12
Total 19 9 28 0 0 0 15 16 31 47 29 76 135
04:00 PM 0 1 1 0 0 0 0 2 2 0 0 0 3
04:15 PM 0 0 0 0 0 0 1 0 1 0 0 0 1
04:30 PM 0 0 0 0 0 0 0 2 2 0 0 0 2
04:45 PM 0 4 4 0 0 0 0 0 0 0 0 0 4
Total 0 5 5 0 0 0 1 4 5 0 0 0 10
Grand Total 29 35 64 0 0 0 33 38 71 88 72 160 295
Apprch % 45.3 54.7 0 0 46.5 53.5 55 45
Total % 9.8 11.9 21.7 0 0 0 11.2 12.9 24.1 29.8 24.4 54.2

CITY TRAFFIC COUNTERS
WWW.CTCOUNTERS.COM
City Council Regular Meeting - Page 754 of 788
File Name : Ruth_ImperialHwy_Pedestrians
Site Code : 00000000
Start Date : 9/14/2021
Page No : 2
Stockwell Dr
South Leg
Imperial Highway
West Leg
Ruth Ave
North Leg
Imperial Highway
East Leg
Start Time School-Age Adults App. Total School-Age Adults App. Total School-Age Adults App. Total Thru Peds App. Total Int. Total Peak Hour Analysis From 07:00 AM to 08:45 AM - Peak 1 of 1 Peak Hour for Entire Intersection Begins at 08:00 AM
08:00 AM 0 0 0 0 0 0 3 1 4 5 3 8 12
08:15 AM 2 6 8 0 0 0 2 2 4 8 10 18 30
08:30 AM 6 8 14 0 0 0 4 6 10 22 21 43 67
08:45 AM 1 3 4 0 0 0 0 1 1 4 7 11 16
Total Volume 9 17 26 0 0 0 9 10 19 39 41 80 125
% App. Total 34.6 65.4 0 0 47.4 52.6 48.8 51.2
PHF .375 .531 .464 .000 .000 .000 .563 .417 .475 .443 .488 .465 .466 Stockwell Dr
Imperial Highway
Imperial Highway
Ruth Ave
School-Age
9 Adults
17 InOut Total
9 26 35
School-Age
0 Adults
0 OutTotal In
39 0 39
School-Age
9 Adults
10 Out TotalIn
9 19 28
Thru
39 Peds
41 TotalOut In
0 80 80
Peak Hour Begins at 08:00 AM
Pedestrians
Peak Hour Data
North

CITY TRAFFIC COUNTERS
WWW.CTCOUNTERS.COM
City Council Regular Meeting - Page 755 of 788
File Name : Ruth_ImperialHwy_Pedestrians
Site Code : 00000000
Start Date : 9/14/2021
Page No : 3
Stockwell Dr
South Leg
Imperial Highway
West Leg
Ruth Ave
North Leg
Imperial Highway
East Leg
Start Time School-Age Adults App. Total School-Age Adults App. Total School-Age Adults App. Total Thru Peds App. Total Int. Total Peak Hour Analysis From 03:00 PM to 04:45 PM - Peak 1 of 1 Peak Hour for Entire Intersection Begins at 03:00 PM
03:00 PM 10 6 16 0 0 0 9 8 17 39 25 64 97
03:15 PM 3 2 5 0 0 0 3 2 5 6 3 9 19
03:30 PM 2 1 3 0 0 0 0 3 3 0 1 1 7
03:45 PM 4 0 4 0 0 0 3 3 6 2 0 2 12
Total Volume 19 9 28 0 0 0 15 16 31 47 29 76 135
% App. Total 67.9 32.1 0 0 48.4 51.6 61.8 38.2
PHF .475 .375 .438 .000 .000 .000 .417 .500 .456 .301 .290 .297 .348 Stockwell Dr
Imperial Highway
Imperial Highway
Ruth Ave
School-Age
19 Adults
9 InOut Total
15 28 43
School-Age
0 Adults
0 OutTotal In
47 0 47
School-Age
15 Adults
16 Out TotalIn
19 31 50
Thru
47 Peds
29 TotalOut In
0 76 76
Peak Hour Begins at 03:00 PM
Pedestrians
Peak Hour Data
North

CITY TRAFFIC COUNTERS
WWW.CTCOUNTERS.COM
City Council Regular Meeting - Page 756 of 788

ATTACHMENT D

Traffic Signal Warrant Analysis

City Council Regular Meeting - Page 757 of 788
City Council Regular Meeting - Page 758 of 788
City Council Regular Meeting - Page 759 of 788
City Council Regular Meeting - Page 760 of 788
City Council Regular Meeting - Page 761 of 788
City Council Regular Meeting - Page 762 of 788
City Council Regular Meeting - Page 763 of 788
City Council Regular Meeting - Page 764 of 788
City Council Regular Meeting - Page 765 of 788
City Council Regular Meeting - Page 766 of 788
1 RESOLUTION._____________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPROVING THE APPROPRATION FROM ARPA FUND (FUN D 1055) IN THE AMOUNT OF $1,001,350 FOR THE INSTALLATION OF A NEW TRAFFIC SIGNAL AT THE

INTERSECTION OF IMPERIAL HIGHWAY AND RUTH AVENUE

WHEREAS, the California Department of Transportation (Caltrans) has issued the California Manual on Uniform Traffic Control Devices (CA MUTCD); and

WHEREAS, the CA MUTCD provides uniform standards and specifications for all official traffic control devices in California; and

WHEREAS, Willdan Engineering has conducted an analysis of the CA MUTCD standards as they apply to the intersection of Imperial Highway and Ruth Avenue; and

WHEREAS, the traffic signal warrant study is satisfied based on the Peak Hour Volume warrant and the Crash Experience traffic warrant; and

WHEREAS, based on the Traffic Signal Warrant Analysis, Wildan Engineering recommends the installation of a new traffic signal at the intersection of Imperial Highway and Ruth Avenue; and

WHEREAS, to move forward with the design and installation of a traffic signal appropriation is needed in the amount of $1,001,350.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY FIND, PROCLAIM, ORDER AND RESOLVE AS FOLLOWS:

Section 1. The City Council of the City of Lynwood hereby finds and declares that the foregoing recitals are true and correct, and incorporates them herein as findings and as a substantive part of this Resolution.

City Council Regular Meeting - Page 767 of 788
2 Section 2. That the City Council approves the following appropriation for the installation of the new traffic signal at the intersection of Imperial Highway and Ruth Avenue:

Appropriation
Fund Dept Div Object Description Amount
Budgetary Transfer Out
1055 ARPA $1,001,350
Budgetary Transfer In
4011 To Be
Determined
Imperial Hwy and Ruth
Ave. Intersection Signal
Installation
$1,001,350

Section 3. That this Resolution shall take effect immediately upon its adoption.

Section 4. The City Clerk shall certify as to the adoption of this Resolution.

PASSED, APPROVED and ADOPTED this 21st day of June, 2022.

______________________________
Jorge Casanova
Mayor
ATTEST:

___________________________ ______________________________ María Quiñónez Ernie Hernandez
City Clerk City Manager

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

__________________________ ______________________________ Noel Tapia Mir T. Fattahi
City Attorney Acting City Engineer
City Council Regular Meeting - Page 768 of 788
3 STATE OF CALIFORNIA )
)

COUNTY OF LOS ANGELES )

I, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the foregoing Resolution was passed and adopted by the City Council of the City of Lynwood at a regular meeting held on the 21st day of June 2022, and passed by the following votes:

AYES:

NOES:

ABSTAIN:

ABSENT:

________________________
Maria Quinonez, City Clerk

STATE OF CALIFORNIA )
)

COUNTY OF LOS ANGELES )

I, the undersigned, City Clerk of the City of Lynwood, and the Cl erk of the City Council of said City, do hereby certify that the above foregoing is a full, true and correct copy of Resolution No. ____________ on file in my office and that said Resolution was adopted on the date and by the vote therein stated. Dated this 21st day of June 2022.

________________________
Maria Quinonez, City Clerk

City Council Regular Meeting - Page 769 of 788
Agenda Item # 29.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Mir T. Fattahi, Acting City Engineer
Lorry Hempe, Public Works Special Projects Manager

SUBJECT:

ADOPTING A LIST OF PROJECTS FOR FISCAL YEAR 2022-2023 FUNDED BY SB1: THE ROAD REPAIR AND ACCOUNTABILITY ACT OF 2017
Recommendation:

Staff recommends that the City Council adopt the attached resolution entitled: “A Resolution OF THE CITY COUNCIL OF THE CITY OF LYNWOOD ADOPTING a list of projects for Fiscal Year 2022-23 funded by SB 1:

The Road Repair and Accountability Act of 2017.”

Background:

On April 28, 2017 the Governor signed Senate Bill (SB) 1 (Beall, Chapter 5, Statutes of 2017), known as the Road Repair and Accountability Act of 2017 to address basic road maintenance, rehabilitation and critical safety needs on both the state highway and local streets and road system.

Beginning November 1, 2017, new funding from increases to certain fuel excise and sales taxes and vehicle registration fees were deposited into the Road Maintenance and Rehabilitation Account, and a percentage of this new funding has been apportioned monthly by formula by the State Controller pursuant to paragraph (2) of subdivision (h) of Section 2032 of the Streets and Highways Code to eligible cities and counties for basic road maintenance, rehabilitation, and critical safety projects on local streets and roads.

Based on a January 2022 revenue estimate, the City is projected to receive $1,592,891
in RMRA funds in FY23.

The FY23 revenue projection is a 10 percent increase from FY22 estimated revenue.

Discussion and Analysis:

SB1 is a significant new investment in California’s transportation systems.

SB1 increases the annual local streets
and road funds allocated through the Highway Users Tax Account, allocating funds from new taxes through the new RMRA Account. RMRA funds must be used for projects that include road maintenance and rehabilitation, safety City Council Regular Meeting - Page 770 of 788
projects, railroad grade separations, traffic control devices, complete street components, including active transportation purposes, pedestrian and bicycle safety projects, transit facilities, and drainage and storm-water capture projects in conjunction with any other allowable project.

RMRA funds may also be used to satisfy a match requirement in order to obtain state or federal funds for eligible projects.

Receipt of RMRA funds requires the City to do the following:

Develop and submit a list of projects to the California Transportation Commission (CTC) each fiscal year. ·

Develop and submit a project expenditure report to the CTC by October 1 each fiscal year. ·

Comply with all requirements including reporting requirements for RMRA funds. ·

Sustain a maintenance of effort (MOE) by spending at least the annual average of its general fund expenditures during FY10, FY11 and FY12 for street, road and highway purposes.

The recommended action, under the proposed resolution for adoption, addresses the requirements on the submittal of list of projects to the CTC.

SB1 FY23 Project List Submittal

Pursuant to Streets and Highways Code Section (SHC) 2034(a)(1), prior to receiving RMRA funds from the State Controller in a fiscal year, a city or county must submit to the California Transportation Commission (CTC) a list of projects proposed to be funded with RMRA funds pursuant to an adopted resolution. The list of projects must be submitted to the CTC by July 1, 2022.

The projects recommended in the resolution is a combination of previously proposed and adopted projects to be funded in-part or solely with FY23 SB1 revenues.

New Proposed Projects

Street Maintenance (FY23)

Staff recommends the ongoing funding of Street Maintenance Division.

Project Location: South of Abbott Road/Century Boulevard; west of Wright Road, north of McMillan Street, North of Palm Avenue, North of Orchard Street; east of Santa Fe Avenue; east of Mona Boulevard and east of Alameda Street.

Project Scope of Work: Continued maintenance of streets citywide including pothole repairs, striping, sidewalk repairs, and cleaning streets/alleys of debris and other related maintenance.

Traffic Signals (FY23)

Staff recommends the ongoing funding of Traffic Signals Division.

Project Location: Maintain traffic signals at 47 locations along Imperial Highway, Atlantic Avenue, Alameda Street, Santa Fe Avenue, State Street, Long Beach Boulevard, Bullis Road, and Martin Luther King Boulevard.

Project Scope of Work: Maintenance of traffic signals citywide.

Imperial Highway/Martin Luther King Boulevard (HSIP)

Project Description: Installation of crosswalks, pedestrian signals and signs; and construction of bulb-outs at Imperial Highway and Martin Luther King Jr. Boulevard

Project Location:

Imperial Highway and Martin Luther King Boulevard

Relisted Projects

The following previously proposed and adopted projects are utilizing current or previous SB1 funds. These City Council Regular Meeting - Page 771 of 788
projects are being carried over to FY23 therefore may utilize FY23 SB1 revenues in their delivery. Staff recommends including these projects to the FY23 List of Projects to be transmitted to the CTC.

Alvada Street, San Carlos Avenue, San Juan Avenue, San Luis Avenue, San Vicente Avenue and Thorson Avenue Street and Sidewalk Improvement Project

Staff recommends funding Alvada Street, San Carlos Avenue, San Juan Avenue, San Luis Avenue, San Vicente Avenue and Thorson Avenue Street and Sidewalk Improvement Project. This project is included in the Priority 2 Streets. It has been submitted for funding for CDBG. Additional funds from SB1 is needed to fully fund the project. The project is currently being designed.

Project Location: Alvada Street from Virginia Avenue to Duncan Avenue; San Carlos Avenue from alley to Abbott Street; San Juan Avenue from City Limit to Abbott Rd; San Luis Avenue from City Limit to Abbot Rd; San Vicente from City limit to Abbott Rd; Thorson Avenue from Carlin Avenue to City Limit and Atlantic Avenue from Lavinia Avenue to Clark Street.

Project Scope of Work: The Project will consist of the construction of new ADA compliant curb ramps where needed and will rehabilitate, gutters, sidewalks, driveway approaches and pavement for the City streets that are in need of repairs. Striping will also be rehabilitated to enhance vehicular and pedestrian safety where needed.

New signage will be installed and utility covers adjusted. Outdated curbs at the intersections will be updated to handicapped ramps. These repairs will help with safer driving and enhance aesthetic of the neighborhood.

Priority 2 Streets Improvement

Staff recommends commencing the design of certain streets identified under Priority 2 Street Improvement Projects.

Project Location: San Luis Avenue from Abbott Road to Alma Avenue; San Miguel Avenue from Abbott Road to Norton Avenue; Shirley Avenue from Thorson Avenue to Harris Avenue; Thorson Avenue from Alberta Street to Shirley Avenue; Thorson Avenue from Cortland Street to Fernwood Avenue; Thorson Avenue from E.O.P to Josephine Street; Thorson Avenue from Agnes Avenue to Lavinia Avenue; and Thorson Avenue from Lavinia Avenue to Magnolia Avenue.

Amendments to Projects List

Pursuant to SHC Section 2034(a)(1), the proposed project list shall not limit the flexibility of an eligible city or county to fund projects in accordance with local needs and priorities, so long as the projects are consistent with SHC Section 2030(b). After submittal of the project list to the Commission, in the event the City elects to make changes to the project list pursuant to the statutory provision noted above, formal notification of the Commission is not required. However, the Project Expenditure Report form that is due to the Commission by October 1st each year, will provide an opportunity for jurisdictions to annually communicate such changes to the Commission as part of the regular reporting process.

Maintenance of Effort

RMRA contains a local agency maintenance of effort (MOE) requirement that applies to funds allocated through the RMRA. The MOE requirement was established to ensure that new road funds do not supplant existing levels of city and county general fund revenue spending on streets and roads.

The MOE for the receipt of RMRA funds states that a city must maintain general fund spending for street, road, and highway purposes at no less than average FY10, FY11 and FY12 years. After the City appealed the MOE amount with the State Controller’s Office, the MOE of $666,594 per year was reduced to $445,955 per year. The annual discretionary general fund spending to meet this MOE requirement does not have to be spent only on City Council Regular Meeting - Page 772 of 788
RMRA qualifying expenses but expended for street, road, and highway purposes.

Fiscal Impact:

Adopting a List of Projects for FY23

Staff recommends that the City Council adopts the attached Resolution on the list of projects on the use of FY23 SB1 revenues to comply with the SB1 requirements. By adopting such resolution and submitting this resolution to the CTC, the City can receive FY23 SB1 revenues estimated at $1,592,891. The City has the discretion to amend the projects list after adoption.

Table 1 below lists the proposed use of the FY23 SB1 funds and proposed use of unspent prior SB1 revenues.

TABLE 1
Project
(A)
Use of Prior
SB1
Revenues
(B)
Proposed Use
of SB1 FY23
Revenues-
New and
Relisted
Projects
(A+B)
FY23
Proposed
Budget
1) Street Maintenance (FY23)

$547,998
$547,998
2) Traffic Signals (FY23)

$134,239
$134,239
3) Imperial Hwy/Martin Luther
King Blvd. HSIP

$65,886
$65,886
4) Alvada Street, San Carlos
Avenue, San Juan Avenue, San
Luis Avenue, San Vicente
Avenue and Thorson Avenue
Street and Sidewalk
Improvement Project. (Street
Construction)

$388,333
$388,333
5) Priority 2 Streets
Improvement Project – San Luis
Avenue from Abbott Road to
Alma Avenue; San Miguel
Avenue from Abbott Road to
Norton Avenue; Shirley Avenue
from Thorson Avenue to Harris
Avenue; Thorson Avenue from
Alberta Street to Shirley Avenue;
Thorson Avenue from Cortland
Street to Fernwood Avenue;
Thorson Avenue from E.O.P to
Josephine Street; Thorson
Avenue from Agnes Avenue to
Lavinia Avenue; and Thorson
Avenue from Lavinia Avenue to
Magnolia Avenue. (Street
Construction)
$114,565
$456,435
$571,000
6) Speed Humps, Rumble Strips
and Other Traffic Enhancement
– Includes traffic safety
enhancements such as
City Council Regular Meeting - Page 773 of 788
intersection and crosswalks
improvements, ADA
improvements, and speed
humps installations.
$400,398

$400,398
TOTAL
$514,963
$1,592,891
$2,107,854

Table 2 below lists the projected fund balances from the beginning of FY22 to the end of FY23.

TABLE 2
Beginning Fund Balance (July 1, 2021)
$473,340
Estimated Incoming Revenues (FY22)
$1,447,389
Less: FY22 Expenditure ( Year End Estimate)
$928,277
Estimated Ending Fund Balance (June 30, 2022)
$992,454
Estimated Incoming Revenues (FY23)
$1,592,891
Less: FY23 Expenditure (Proposed)
$2,107,854
Projected Ending Fund Balance (June 30, 2023)
$477,491

Staff recommends not programming the projected fund balance at this time. The projected fund balance can be used as a contingency for projects that may require additional appropriation to be completed or cushion against revenues received that may be lower than the projections.

Coordinated With:

City Attorney
Finance Department
ATTACHMENTS:

Description
Resolution
City Council Regular Meeting - Page 774 of 788
1 RESOLUTION NO.__________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD ADOPTING A LIST OF PROJECTS FOR FISCAL YEAR 2022 -23 FUNDED BY SB 1: THE ROAD REPAIR AND ACCOUNTABILITY ACT OF 2017

WHEREAS, Senate Bill 1 (SB 1), the Road Repair and Accountability Act of 2017 (Chapter 5, Statutes of 2017) was passed by the Legislature and Signed into law by the Governor in April 2017 to address the significant multi -modal transportation funding shortfalls statewide; and

WHEREAS, SB 1 includes accountability and transparency provisions that will ensure the residents of our City are aware of the projects proposed for funding in our community and which projects have been completed each fiscal year; and

WHEREAS, the City must adopt by resolution a list of projects proposed to receive fiscal year funding from the Road Maintenance and Rehabilitation Account (RMRA), created by SB 1, which must include a description and the location of each proposed project, a proposed schedule for the project’s completion, and the estimated useful life of the improvement; and

WHEREAS, the City, will receive an estimated $1,592,891 in RMRA funding in Fiscal Year 2022-2023 from SB 1; and

WHEREAS, this is the sixth year in which the City is receiving SB 1 funding and will enable the City to continue essential road maintenance and rehabilitation projects, safety improvements, repairing and replacing aging bridges, and increasing access and mobility options for the traveling public that would not have otherwise been possible without SB 1; and

WHEREAS, the City Council allows public comments at the start of the Council Meeting prior to considering and approving the list of projects for the use of SB1 funds; and

WHEREAS, the City used a Pavement Management System to develop the SB 1 project list to ensure revenues are being used on the most high-priority and cost-effective projects that also meet the communities priorities for transportation investment; and

WHEREAS, the funding from SB 1 will help the City maintain and rehabilitate segments of Alvada Street, San Carlos Avenue, San Juan Avenue, San Luis Avenue, San Vicente Avenue and Thorson Avenue Street, San Luis Avenue, San Miguel Avenue, Shirley Avenue, Thorso n Avenue, Alexander Avenue, Louise Street, Pope Avenue, Pendleton Avenue, Seminole Avenue, and Shirley Avenue, Alberta Street, First Avenue, Franklin Street, Lindberg Avenue, Lewis Street, Peach Street, Pine Avenue, and Second City Council Regular Meeting - Page 775 of 788
2 Avenue as well as maintain th e streets and traffic signals citywide this year and similar improvements projects into the future; and

WHEREAS, the 2021 California Statewide Local Streets and Roads Needs Assessment found that the City’s streets and roads are in a “At Lower Risk” condition and this revenue will help us increase the overall quality of our road system and over the next decade will bring our streets and roads into a “Good” condition and this revenue will help us increase the overall quality of our road system and over the next decade will bring our streets and roads into a “Good” condition; and

WHEREAS, the SB 1 project list and overall investment in our local streets and roads infrastructure with a focus on basic maintenance and safety, investing in complete streets infrastructure, and using cutting-edge technology, materials and practices, will have significant positive co-benefits statewide.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY FIND, PROCLAIM, ORDER, AND RESOLVE AS FOLLOWS:

Section 1. The City Council of the City of Lynwood hereby finds and declares that the foregoing recitals are true and correct, and incorporates them herein as findings and as a substantive part of this Resolution.

. Section 2. The following list of proposed project will be funded in-part or solely with Fiscal year 2022-23 Road Maintenance and Rehabilitation Account revenues:

Project Title: Street Maintenance (FY23)

Project Code: 2121.45.410

Project Description: Continued maintenance of streets citywide including pothole repairs, striping, sidewalk repairs, and cleaning streets/alleys of debris and other related maintenance.

Project Location: South of Abbott Road/Century Boulevard; west of Wright Road, north of McMillan Street, North of Palm Av enue, North of Orchard Street; east of Santa Fe Avenue; east of Mona Boulevard and east of Alameda Street

Estimated Project Schedule:

Start Date: July 1, 2022
Completion Date: June 30, 2023

Estimated Project Useful Life: 2 to 3 Years

City Council Regular Meeting - Page 776 of 788
3 Technology, Climate Change, and Complete Streets Considerations: To the extent possible will try to use materials that lowers GHG.

Project Title: Traffic Signals (FY23)

Project Code: 2121.45.430

Project Description: Continued maintenance of traffic signals citywide.

Estimated Project Schedule:

Start Date: July 1, 2022
Completion Date: June 30, 2023

Estimated Project Useful Life: 2 to 3 Years

Technology, Climate Change, and Complete Streets Considerations: To the extent possible will try to use materials that lowers GHG.

Project Title: Imperial Highway/Martin Luther King Boulevard (HSIP)(FY23)

Project Code: 4011.68.035

Project Description: Installation of crosswalks, pedestrian si gnals and signs; and construction of bulb-outs at Imperial Highway and Martin Luther King Jr. Boulevard

Project Location: Imperial Highway and Martin Luther King Boulevard

Estimated Project Schedule:

Start Date: July 1, 2023
Completion Date: June 30, 2024

Estimated Project Useful Life: 5 to 7 Years

Technology, Climate Change, and Complete Streets Considerations: To the extent possible will try to use materials that lowers GHG.

City Council Regular Meeting - Page 777 of 788
4 Section 3. The following previously proposed and adopted projects may utilize Fiscal Year 2022 -23 Road Maintenance and Rehabilitation Account revenues in their delivery. With the relisting of these projects in the adopted fiscal year resolution, the City is reaffirming to the public and the State our intent to fund these projects with Road Maintenance and Rehabilitation Account revenues:

Project Title: Alvada Street, San Carlos Avenue, San Juan Avenue, San Luis Avenue, San Vicente Avenue and Thorson Avenue Street and Sidewalk Improvement Project

Project Code: 4011.68.103

Project Description: The Project will consist of the construction of new ADA compliant curb ramps where needed and will rehabilitate, gutters, sidewalks, driveway approaches and pavement for the City streets that are in need of repairs. Striping will also be rehabilitated to enha nce vehicular and pedestrian safety where needed. New signage will be installed and utility covers adjusted. Outdated curbs at the intersections will be updated to handicapped ramps. These repairs will help with safer driving and enhance aesthetic of the neighborhood

Estimated Project Schedule:

Start Date: July 1, 2021
Completion Date: June 30, 2024

Estimated Project Useful Life: 20 to 30 Years

Technology, Climate Change, and Complete Streets Considerations: To the extent possible will try to use materials that lowers GHG

Project Title: Priority 2 Streets

Project Code: 4011.68.104

Project Description: The Project will consist of the construction of new ADA compliant curb ramps where needed and will rehabilitate, gutters, sidewalks, driveway approaches and pavement for the City streets that are in need of repairs. Striping will also be City Council Regular Meeting - Page 778 of 788
5 rehabilitated to enhance vehicular and pedestrian safety where needed. New signage will be installed and utility covers adjusted. Outdated curbs at the intersections will be updated to handicapped ramps. These repairs will help with safer driving and enhance aesthetic of the neighborhood.

Project Location: Alma Ave. from Ruth St to Mallison Ave; Alma Ave. from Mallison Ave. to Otis St.; Los Flores Blvd . from Altantic Ave. to Virginia Ave. ; Los Flores Blvd. from Virginia Ave. to Pope Ave; Los Flores Blvd from Pope Ave. to Duncan Ave.; Los Flores Blvd. from Sante Fe Ave. to Penn St.; Los Flores Blvd. from Penn St. to Franklin St.; Los Flores Blvds from Franklin St. to Bellinger St.; Los Flores Blvd from Long Beach Blvd .to California Ave.; Los Flores Blvd. from California Ave to Imperial Hwy.; San Luis Ave from Abbott Rd to Alma Ave.; San Luis Ave from Alma Ave to Norton Ave .; and San Miguel Ave. from Abbott Rd. to Norton Ave.

Estimated Project Schedule:

Start Date: July 1, 2021
Completion Date: April 30, 2023

Estimated Project Useful Life: 20 to 30 Years

Section 4. That the City Council hereby directs the City Manager or his designee to incorporate th e aforementioned projects in the FY23 Budget and add to the Capital Improvement Program of the FY23 Budget as appropriate.

Section 5 . That the City Council authorizes the City Manager to make modifications to the list to ensure compliance with SB1 Guidelines.

Section 6. Authorize the Mayor to execute the Resolution for and on behalf of the City of Lynwood.

Section 7. This Resolution shall take full force and effect immediately upon adoption by the City Council.

PASSED, APPROVED and ADOPTED this 21st day of June, 2022.

______________________________
Jorge Casanova
Mayor
ATTEST:

___________________________ ______________________________ María Quiñónez Ernie Hernandez
City Clerk City Manager
City Council Regular Meeting - Page 779 of 788
6 APPROVED AS TO FORM: APPROVED AS TO CONTENT:

__________________________ ______________________________ Noel Tapia Mir T. Fattahi
City Attorney Acting City Engineer
City Council Regular Meeting - Page 780 of 788
7 STATE OF CALIFORNIA )
)

COUNTY OF LOS ANGELES )

AYES:

NOES:

ABSTAIN:

ABSENT:

________________________
Maria Quinonez, City Clerk

STATE OF CALIFORNIA )
)

COUNTY OF LOS ANGELES )

I, the undersigned, City Clerk of the City of Lynwood, and the Clerk of the City Council of said City, do hereby certify that the above foregoing is a full, true and correct copy of Resolution No. ____________ on file in my office and that said Resolution was adopted on the date and by the vote therein stated. Dated this 21st day of June 2022.

________________________
Maria Quinonez, City Clerk

City Council Regular Meeting - Page 781 of 788
Agenda Item # 30.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Ernie Hernandez, City Manager

SUBJECT:

AWARD OF CONTRACT AND APPROVAL TO DOUG MARTIN CONTRACTING COMPANY, INC. FOR THE CITYWIDE SLURRY SEAL (PHASE 1) PROJECT FY 2021-2022.

Recommendation:

Staff recommends that the City Council adopt the attached resolution entitled: “A RESOLUTION OF THE CITY

COUNCIL OF THE CITY OF LYNWOOD AWARDING A CONTRACT TO DOUG MARTIN CONTRACTING COMPANY, INC. AS THE LOWEST RESPONSIBLE BIDDER, IN THE AMOUNT OF $197,136.46 FOR THE CITYWIDE SLURRY SEAL (PHASE 1) PROJECT FY 2021-2022; AUTHORIZING THE MAYOR TO EXECUTE THE AGREEMENT; AND APPROVING AN APPROPRIATION OF $283,877 FROM THE UNAPPROPRIATED MEASURE M BONDS (FUND 2357) TO THE PROJECT.” .

Background:

The City of Lynwood will undergo a citywide slurry seal program. The item before the City Council will kick off Phase 1 of this four-phase program. Slurry seal projects are an important part of the city’s pavement management program. The treatment provides a new wearing surface of the road and protects it from sun and water damage.

A slurry seal is a maintenance treatment that prolongs the life of asphalt at a fraction of the cost of full pavement (structural) repair.

The work encompassed by the Citywide Slurry Seal (PHASE 1) FY 2021-2022 (“Project”) is more specifically defined in the contract documents, but in general consists of, but is not limited to: citywide slurry seal, including pavement cold milling and overlay at the following locations.

Josephine Street from State Street to Peach Street
Josephine Street from Monrovia Avenue to Long Beach Boulevard Josephine Street from Bullis Road to Thorson Avenue
Ernestine Avenue from Walnut Avenue to Lugo Avenue
Ernestine Avenue from Agnes Street to Louise Street/E.O.P.

Gertrude Drive from Agnes Street to Cortland Street
Muriel from Walnut Avenue to Platt Avenue
Lugo Avenue from Muriel Drive to Harris Avenue
City Council Regular Meeting - Page 782 of 788
Louise Street from Gertrude Drive to Muriel Drive
Discussion and Analysis:

On April 22, 2022, the Notice Inviting Bids (NIB) was advertised on the City’s web site (PlanetBids). The Bid opening took place in the PlanetBids Platform on Thursday, May 12, 2022, at 10:00 am (PST).

The following five (5) bids were received:

Bidder
Bid

1. Doug Martin Contracting
Company, Inc.
$197,136.46

2. Pavement Coatings Co.
$198,233.40

3. All American Asphalt
$205,515.00

4. American Asphalt South, Inc.
$205,929.42

5. Roy Allan Slurry Seal, Inc.
$215,818.21

An analysis of all bidders was conducted, including a review of their bid schedule, license, references, and federal documents. Doug Martin Contracting, Inc. was the apparent lowest responsible bidder with a low base bid of $197,136.46. The bidder’s previous performance reveals that the contractor has the necessary experience and contractor’s license for this type of project.

It is estimated that this project will take approximately twenty (20) working days to complete the work set forth in the specifications. Upon authorization, staff will circulate the contract documents, set up a pre-construction meeting, and schedule work to commence.

Bid Items and Construction Budget
:

CITYWIDE SLURRY SEAL (PHASE 1) PROJECT FY 2021-2022
Amount
Bid Schedule
Mobilization/Demobilization
$3,030.00
Traffic Control
$7,300.00
Cold Mill Existing AC Pavement 3” Deep
$7,633.21
Construct 3” Thick AC (C2-PG-64-10)
$37,829.00
Place Slurry Seal Type II with 3% Latex
$106,224.25
Install Crack Seal and Spray Weed Killer
$13,300.00
Adjust Existing Storm Drain/Sewer/Utility Manhole Frames and Covers to Finished Grade $2,200.00
Adjust Water Valve Can and Cover to Finished Grade
$1,200.00
Remove and Replace Existing Thermoplastic Striping, Legends, Arrows and Parking Stalls $15,420.00
Furnish and Install Public Improvement Project Sign
$3,000.00
Total Proposed Cost
$197,136.46

Fiscal Impact:

The proposed project requires appropriation in the amount of $283,877_ as follows:

Appropriation (FY22)
Fund
Dept
Div
Object
Description
Amount
Budgetary Transfer Out
2357

Measure M Bonds
$283,877

Budgetary Transfer In
4011
To Be
Determined
Citywide Slurry Seal
Project (Phase 1)
$283,877

City Council Regular Meeting - Page 783 of 788

To move forward with this project, it is necessary for the City Council to approve the above appropriation.

Coordinated With:

City Manager’s Office
Department of Finance and Administration Services
ATTACHMENTS:

Description

RESOLUTION
City Council Regular Meeting - Page 784 of 788
1 RESOLUTION NO.

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD

AWARDING A CONTRACT TO DOUG MARTIN CONTRACTING
COMPANY, INC. AS THE LOWEST RESPONSIBLE BIDDER, IN THE
AMOUNT OF $197,136.46 FOR THE CITYWIDE SLURRY SEAL (PHASE 1) PROJECT FY 2021-2022; AUTHORIZING THE MAYOR TO EXECUTE THE AGREEMENT; AND APPROVING AN APPROPR IATION OF
$283,877 FROM THE UNAPPROPRIATED MEASURE M BONDS (FUND
2357) TO THE PROJECT.

WHEREAS, the City of Lynwood will implement a citywide slurry seal program in four phases; and

WHEREAS, CITYWIDE SLURRY SEAL (PHASE 1) PROJECT FY 2021 -2022 (“Project”) encompasses the following street segments of 1.) Josephine Street from State Street to Long Beach Boulevard, 2.) Josephine Street from Bullis Road to Muriel Drive,

3.) Ernestine Avenue from Walnut Avenue to Lugo Avenue, 4.) Ernestine Avenue from Agnes Street to Louise Street/E.O.P., 5.) Gertrude Drive f rom Agnes Street to Cortland Street 6.) Muriel from Walnut Avenue to Platt Avenue, 7.) Lugo Avenue from Muriel Drive to Harris Avenue, 8.) Louise Street from Gertrude Drive to Muriel Drive; and

WHEREAS, the Project consists of citywide slurry seal, includ ing pavement cold milling and overlay at some locations; and

WHEREAS, on April 22 , 2022, the Notice Inviting Bids for the Project was advertised on the City’s web site (PlanetBids); and

WHEREAS, the bid opening took place in the PlanetBids Platform on May 12, 2022, at 10:00 A.M. (Pacific Time); and
WHEREAS, staff received five (5) bid proposals; and

WHEREAS, Doug Martin Contracting Company, Inc. is the lowest responsible bidder; and

WHEREAS, to move forward with this Project, appropriation is needed.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY FIND, PROCLAIM, ORDER, AND RESOLVE AS FOLLOWS:

Section 1. The City Council of the City of Lynwood authorizes the Mayor to execute the agreement between the City of Lynwood and Doug Martin Contracting Company, Inc. for the Citywide Slurry Seal (Phase 1) Project FY 2021 -2022 (“Project”) in the amount of $197,136.46.

Section 2. The City Council approves the following appropriation:

City Council Regular Meeting - Page 785 of 788
2 Appropriation (FY22)
Fund Dept Div Object Description Amount
Budgetary Transfer Out
2357 Measure M Bonds $283,877

Budgetary Transfer In
4011

To Be
Determined
Citywide Slurry Seal
Project (Phase 1)
$283,877

Section 3. The City Council of the City of Lynwood authorizes the City Manager under LMC 6-3.15(d) to exceed the specific dollar amounts or percentage limitations under LMC 6-3.15(a) and authorizes the City Manager to approve consultant, vendor agreements, modifications, change orders or agreement amendments related to the Project up to the available Project Budget.

Section 4. This resolution shall take effect immediately upon its adoption.

Section 5. The City Clerk shall certify to the adoption of this resolution and hereafter the same shall be in full force and effect.

(Signatures on Next Page)
City Council Regular Meeting - Page 786 of 788
3 PASSED, APPROVED and ADOPTED this 21st day of June 2022.

Jorge Casanova
Mayor

ATTEST:

Maria Quinonez Ernie Hernandez
City Clerk City Manager

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

Noel Tapia Ernie Hernandez
City Attorney Interim Director of Public Works
City Council Regular Meeting - Page 787 of 788
4 STATE OF CALIFORNIA )
)

COUNTY OF LOS ANGELES )

AYES:

NOES:

ABSTAIN:

ABSENT:

Maria Quinonez, City Clerk

STATE OF CALIFORNIA )
)

COUNTY OF LOS ANGELES )

I, the undersigned, City Clerk of the City of Lynwood, and the Clerk of the City Council of said City, do hereby certify that the above foregoing is a full, true, and correct copy of Resolution No. on file in my office and that said Resolution was adopted on the date and by the vote therein stated. Dated this 21st day of June 2022.

Maria Quinonez, City Clerk
City Council Regular Meeting - Page 788 of 788
This Agenda contains a brief general description of each item to be considered. Copies of the Staff reports or other written documentation relating to each item of business referred to on the Agenda are on file in the Office of the City Clerk and are available for public inspection. Any person who has a question concerning any of the agenda items may call the City Manager at (310) 603-0220, ext. 200.

Procedures for Addressing the Council

IN ORDER TO EXPEDITE CITY COUNCIL BUSINESS, WE ASK THAT ALL PERSONS WISHING TO ADDRESS THE

COUNCIL SUBMIT YOUR COMMENTS IN ADVANCE TO
[email protected]

OR FILL OUT A FORM

PROVIDED AT THE PODIUM, AND TO TURN IT IN TO THE CITY CLERK PRIOR TO THE START OF THE MEETING. FAILURE TO FILL OUT SUCH A FORM WILL PROHIBIT YOU FROM ADDRESSING THE COUNCIL IN THE ABSENCE OF THE UNANIMOUS CONSENT OF THE COUNCIL.

AGENDA
Lynwood Public Financing Authority

TO BE HELD ON

June 21, 2022

COUNCIL CHAMBERS - 11350 BULLIS RD. LYNWOOD, CA 90262 or Web conference via ZOOM - To participate via Zoom or by telephone: 1-669-900-9128 or 1-253-215-8782 Meeting ID: 835 2029 8238
Duly Posted on 6/18/2022 By MQ
6:00 PM

1. CALL TO ORDER

2. CERTIFICATION OF AGENDA POSTING BY SECRETARY

3. ROLL CALL OF MEMBERS
Jorge Casanova, President
Jose Luis Solache
, Vice President
Oscar Flores, Member
Marisela Santana, Member
Rita Soto, Member

4. GOVERNMENT CODE SECTION 54954.3
Members of the City Council are also members of Lynwood Public Financing Authority, which is concurrently convening with the City Council this evening and each Council Member is paid an Additional Stipend of $100 for Attending the Lynwood Public Financing Authority Meeting. Further, the Authority is scheduled to meet four (4) timer per year. If additional meetings are required beyond the scheduled four (4) meetings, the City Council will only get paid for the first four(4) meetings.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NON-AGENDA PUBLIC ORAL COMMUNICATIONS
Lynwood Public Financing Authority - Page 1 of 60

THIS PORTION PROVIDES AN OPPORTUNITY FOR THE PUBLIC TO ADDRESS THE LYNWOOD PUBLIC

FINANCING AUTHORITY ON ITEMS WITHIN THE JURISDICTION OF THE

LYNWOOD PUBLIC FINANCING

AUTHORITY
AND NOT LISTED ON THE AGENDA. IF AN ITEM IS NOT ON THE AGENDA, THERE SHOULD BE NO

SUBSTANTIAL DISCUSSION OF THE ISSUE BY

LYNWOOD PUBLIC FINANCING AUTHORITY
, BUT

LYNWOOD

PUBLIC FINANCING AUTHORITY

MAY REFER THE MATTER TO STAFF OR SCHEDULE SUBSTANTIVE
DISCUSSION FOR A FUTURE MEETING. (The Ralph M. Brown Act, Government Code Section 54954.2 (a).)

CONSENT CALENDAR

ALL MATTERS LISTED UNDER THE CONSENT CALENDAR WILL BE ACTED UPON BY ONE MOTION AFFIRMING THE ACTION RECOMMENDED ON THE AGENDA. THERE WILL BE NO SEPARATE DISCUSSION ON

THESE ITEMS PRIOR TO VOTING UNLESS MEMBERS OF THE COUNCIL OR STAFF REQUEST SPECIFIC ITEMS TO BE REMOVED FROM THE CONSENT CALENDAR FOR SEPARATE ACTION.

5. PREVIOUS MEETING MINUTES
Comments:

Approving previous meeting minutes for Lynwood Public Finance Authority: (CC)

January 4, 2022
January 18, 2022
February 1, 2022
February 15, 2022
March 15, 2022
April 19, 2022
May 17, 2022

Recommendation:

Staff recommends that the Lynwood Public Financing Authority approve the following minutes:

January 4, 2022
January 18, 2022
February 1, 2022
February 15, 2022
March 15, 2022
April 19, 2022
May 17, 2022

6. TREASURER'S MONTHLY INVESTMENT REPORT
Comments:

The purpose of this item is to have the Honorable President and Members of the Public Finance Authority review the Treasurer’s Monthly Investment Report as required by State Statutes. (CT)

Recommendation:

The following is the Investment Report for the month ending May 31, 2022. This report is provided to ensure the City Council is informed of the Department’s investment activities. The report satisfies the recommended reporting requirements of the City of Lynwood, which addresses the City Council’s request for monthly financial information.

It is recommended that the City Council for the City of Lynwood receive and file the attached Monthly Investment Report.

ADJOURNMENT

THE LYNWOOD PUBLIC FINANCE AUTHORITY MEETINGS WILL BE POSTED AS NEEDED. THE NEXT MEETING WILL BE HELD IN THE COUNCIL CHAMBERS OF CITY HALL ANNEX, 11350 BULLIS ROAD, CITY OF LYNWOOD, CALIFORNIA.

Lynwood Public Financing Authority - Page 2 of 60
Agenda Item # 5.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Maria Quinonez, City Clerk
Silvia Pineda, Assistant to the City Clerk
Nancy Blinzler, Office Assistant

SUBJECT:

PREVIOUS MEETING MINUTES
Recommendation:

Staff recommends that the Lynwood Public Financing Authority approve the following minutes:

January 4, 2022
January 18, 2022
February 1, 2022
February 15, 2022
March 15, 2022
April 19, 2022
May 17, 2022

Background:

N/A
Discussion and Analysis:

N/A
Fiscal Impact:

N/A
Coordinated With:

Lynwood Public Financing Authority - Page 3 of 60 Agenda Item # 2 N/A
ATTACHMENTS:

Description
LPFA Regular Meeting 01/04/2022
LPFA Regular Meeting 01/18/2022
LPFA Regular Meeting 02/01/2022
LPFA Regular Meeting 02/15/2022
LPFA Regular Meeting 03/15/2022
LPFA Regular Meeting 04/19/2022
LPFA Regular Meeting 05/17/2022
Lynwood Public Financing Authority - Page 4 of 60 Agenda Item # 2 1 LYNWOOD PUBLIC FINANCING AUTHORITY MEETING

MEETING MINUTES
January 4, 2022

01. CALL TO ORDER
The Lynwood Public Financing Authority Meeting of the City of Lynwood met in the Council Chambers, 11350 Bullis Road Lynwood, CA 90262 or Web conference via ZOOM - To participate via Zoom or by telephone: 1 - 669-900-9128 or 1 -253- 215-8782 Meeting ID: 835 2029 8238 on the above date at 6:00 p.m.

Meeting was called to order at 6:32 p.m.

President Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Assistant to Secretary Pineda announced that the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS
PRESENT: MEMBERS FLORES, SANTANA, SOTO AND VICE PRESIDENT

SOLACHE AND PRESIDENT CASANOVA,
ABSENT: NONE
STAFF
PRESENT: Chief Administrative Officer Hernandez , City Attorney Tapia, and City Treasurer Camacho.

ABSENT: Secretary Quinonez

04. GOVERNMENT CODE SECTION 54954.3

Assistant to Secretary Pineda stated the following:

Members of the City Council are also members of the Lynwood Public Financing Authority, which is concurrently convening with the City Council this evening and each Council Member is paid an additional stipend of $100 for attending t he Lynwood Public Financing Authority Meeting. Further, the Authority is scheduled to meet four (4) times per year. If additional meetings are required beyond the scheduled four (4) meetings, the City Council will only get paid for the first four (4) meetings.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE
Lynwood Public Financing Authority - Page 5 of 60 Agenda Item # 2 2 NON-AGENDA PUBLIC ORAL COMMUNICATIONS

NONE

CONSENT CALENDAR
All matters listed under the Consent Calendar will be acted upon by one motion affirming the action recommended on the agenda. There will be no separate discussion on these items prior to voting unless members of the Council or staff request specific items be removed from the Consent Calendar for separate action.

MOTION: It was moved by Vice President Solache, seconded by Member Soto to approve the consent calendar and receive and file staff reports. Motion carried by unanimous consent.

ROLL CALL:

AYES: MEMBERS FLORES, SANTANA, SOTO, VICE PRESIDENT

SOLACHE AND PRESIDENT CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

05. TREASURER’S QUARTERLY REPORT

Receive and File TREASURER’S QUARTERLY REPORT

ENTITLED: TREASURER’S QUARTERLY REPORT

06. TREASURER’S SPECIAL INVESTMENT REPORT FOR AUGUST-NOVEMBER 2021

Receive and File TREASURER’S SPECIAL INVESTMENT REPORT FOR AUGUST-NOVEMBER 2021

ENTITLED: TREASURER’S SPECIAL INVESTMENT REPORT FOR AUGUST- NOVEMBER 2021

ADJOURNMENT

Having no further discussion, it was moved by Vice President Solache, seconded by Member Soto to adjourn the Lynwood Pu blic Financing Authority at 6:34 p.m.

Motion carried by unanimous consent.

______________________ ___________________
Maria Quinonez, Secretary Jorge Casanova, President Lynwood Public Financing Authority - Page 6 of 60 Agenda Item # 2 1 LYNWOOD PUBLIC FINANCING AUTHORITY MEETING

MEETING MINUTES
January 18, 2022

Meeting was called to order at 6:25 p.m.

President Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quinonez announced that the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS
PRESENT: MEMBERS FLORES, SANTANA, SOTO, VICE PRESIDENT

SOLACHE AND PRESIDENT CASANOVA
ABSENT: NONE

STAFF PRESENT: Chief Administrative Officer Hernandez , City Attorney Tapia, City Treasurer Camacho and Secretary Quinonez.

ABSENT: NONE

04. GOVERNMENT CODE SECTION 54954.3

Secretary Quinonez stated the following:

Members of the City Council are also members of the Lynwood Public Financing Authority, which is concurrently convening with the City Council this evening and each Council Member is paid an additional stipend of $100 for attending the Lynwood Public Financing Authority Meeting. Further, the Authority is scheduled to meet four (4) times per year. If additional meetings are required beyond the scheduled four (4) meetings, the City Council will only get paid for the first four (4) meetings.

Lynwood Public Financing Authority - Page 7 of 60 Agenda Item # 2 2 PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

NONE

CONSENT CALENDAR

MOTION: It was moved by Vice President Solache, seconded by Member Soto to approve the consent calendar and receive and file staff reports. Motion carried by unanimous consent.

ROLL CALL:

AYES: MEMBERS FLORES, SANTANA, SOTO, VICE PRESIDENT

SOLACHE AND PRESIDENT CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

05. TREASURER’S INVESTMENT POLICY

Approved and Adopted RESOLUTION NO. 2022.001

ENTITLED: A RESOLUTION OF THE LYNWOOD PUBLIC FINANCE
AUTHORITY OF THE CITY OF LYNWOOD APPROVING THE TREASURER’S

INVESTMENT POLICY STATEMENT

06. TREASURER’S MONTHLY INVESTMENT REPORT

Received and filed TREASURER’S MONTHLY INVESTMENT REPORT

ENTITLED: TREASURER’S MONTHLY INVESTMENT REPORT

Lynwood Public Financing Authority - Page 8 of 60 Agenda Item # 2 3 ADJOURNMENT

Having no further discussion, it was moved by Vice President Solache, seconded by Member Soto to adjourn the Lynwood Public Financing Authority at 6:27 p.m.

Motion carried by unanimous consent.

_________________________ _____________________
Maria Quinonez, Secretary Jorge Casanova, President

Lynwood Public Financing Authority - Page 9 of 60 Agenda Item # 2 1 LYNWOOD PUBLIC FINANCING AUTHORITY MEETING

MEETING MINUTES
February 1, 2022

Meeting was called to order at 7:08 p.m.

President Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quinonez announced that the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS
PRESENT: MEMBERS FLORES, SANTANA, SOTO, VICE PRESIDENT

SOLACHE AND PRESIDENT CASANOVA
ABSENT: NONE

STAFF PRESENT: Chief Administrative Officer Hernandez , City Attorney Tapia, City Treasurer Camacho and Secretary Quinonez.

04. GOVERNMENT CODE SECTION 54954.3

Secretary Quinonez stated the following:

Members of the City Council are also members of the Lynwood Public Financing Authority, which is concurrently convening with the City Council this evening and each Council Member is paid an additional stipend of $100 for attending the Lynwood Public Financing Authority Meeting. Further, the Authority is scheduled to meet four (4) times per year. If additional meetings are required beyond the scheduled four (4) meetings, the City Council will only get paid for the first four (4) meetings.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE
Lynwood Public Financing Authority - Page 10 of 60 Agenda Item # 2 2 NON-AGENDA PUBLIC ORAL COMMUNICATIONS

NONE

CITY COUNCIL ORAL AND WRITTEN COMMUNICATION

NONE

CONSENT CALENDAR

MOTION: It was moved by Vice President Solache, seconded by Member Soto to approve the consent calendar and receive and file staff reports. Motion carried by unanimous consent.

ROLL CALL:

AYES: MEMBERS FLORES, SANTANA, SOTO, VICE PRESIDENT

SOLACHE AND PRESIDENT CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

05. TREASURER’S QUARTERLY REPORT

Received and filed TREASURER’S QUARTERLY REPORT

ENTITLED: TREASURER’S QUARTERLY REPORT

ADJOURNMENT

Having no further discussion, it was moved by Member Santana, seconded by Vice President Solache to adjourn the Lynwood Public Financing Authority at 7:12 p.m.

Motion carried by unanimous consent.

_________________________ _______________________ Maria Quinonez, Secretary Jorge Casanova, President Lynwood Public Financing Authority - Page 11 of 60 Agenda Item # 2 1 LYNWOOD PUBLIC FINANCING AUTHORITY MEETING

MEETING MINUTES
February 15, 2022

Meeting was called to order at 6:38 p.m.

President Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quinonez announced that the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS
PRESENT: MEMBERS FLORES, SANTANA, SOTO, VICE PRESIDENT

SOLACHE AND PRESIDENT CASANOVA
ABSENT: NONE

STAFF PRESENT: Chief Administrative Officer Hernandez , City Attorney Tapia, City Treasurer Camacho and Secretary Quinonez.

04. GOVERNMENT CODE SECTION 54954.3

Secretary Quinonez stated the following:

Members of the City Council are also members of the Lynwood Public Financing Authority, which is concurrently convening with the City Council this evening and each Council Member is paid an additional stipend of $100 for attending the Lynwood Public Financing Authority Meeting. Further, the Authority is scheduled to meet four (4) times per year. If additional meetings are required beyond the scheduled four (4) meetings, the City Council will only get paid for the first four (4) meetings.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE
Lynwood Public Financing Authority - Page 12 of 60 Agenda Item # 2 2 NON-AGENDA PUBLIC ORAL COMMUNICATIONS
NONE

MOTION: It was moved by Member Santana , seconded by Member Soto to approve the consent calendar and receive and file staff reports. Motion carried by unanimous consent.

ROLL CALL:

AYES: MEMBERS FLORES, SANTANA, SOTO, VICE PRESIDENT

SOLACHE AND PRESIDENT CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

05. PREVIOUS MEETING MINUTES

Approved PREVIOUS MEETING MINUTES

ENTITLED: Meeting minutes for July 20, 2021 Regular Meeting, August 17, 2021 Regular Meeting, September 7, 2021 Regular Meeting

06. TREASURER’S MONTHLY INVESTMENT REPORT

Receive and file TREASURER’S MONTHLY INVESTMENT REPORT

ENTITLED: TREASURER’S MONTHLY INVESTMENT REPORT

ADJOURNMENT

Having no further discussion, it was moved by Member Santana, seconded by Vice President Solache to adjourn the Lynwood Public Financing Authority at 6:40 p.m.

Motion carried by unanimous consent.

_________________________ _______________________
Maria Quinonez, Secretary Jorge Casanova, President Lynwood Public Financing Authority - Page 13 of 60 Agenda Item # 2 1 Lynwood Public Financing Authority Meeting
Meeting Minutes
March 15, 2022

01. CALL TO ORDER
The Lynwood Public Financing Authority Meeting of the City of Lynwood met in the Council Chambers, 11350 Bullis Road Lynwood, CA 90262 or Web conference via ZOOM - To participate via Zoom or by telephone: 1-669-900-9128 or 1-253- 215- 8782 Meeting ID: 835 2029 8238 on the above date at 6:00 p.m.

Meeting was called to order at 6:54 p.m.

President Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Assistant to Secretary Quiňonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS
PRESENT: MEMBERS FLORES, SANTANA, SOTO, VICE PRESIDENT

SOLACHE AND PRESIDENT CASANOVA
ABSENT: NONE

STAFF PRESENT: Chief Administrative Officer Hernandez , City Attorney Tapia, and City Treasurer Camacho.

ABSENT: Secretary Quiňonez

04. GOVERNMENT CODE SECTION 54954.3

Assistant to Secretary Quinonez stated the following:

Members of the City Council are also members of the Lynwood Public Financing Authority, which is concurrently convening with the City Council this evening and each Council Member is paid an additional stipend of $100 for attending the Lynwood Public Financing Authority Meeting. Further, the Authority is scheduled to meet four (4) times per year. If additional meetings are required beyond the scheduled four (4) meetings, the City Council will only get paid for the first four (4) meetings.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE
Lynwood Public Financing Authority - Page 14 of 60 Agenda Item # 2 2 NON-AGENDA PUBLIC ORAL COMMUNICATIONS

NONE

CONSENT CALENDAR

MOTION: It was moved by Vice President Solache , seconded by Member Santana to approve the consent calendar and receive and file staff reports.

Motion carried by unanimous consent.

ROLL CALL:

AYES: MEMBERS FLORES, SANTANA, SOTO, VICE PRESIDENT

SOLACHE AND PRESIDENT CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

05. TREASURER’S MONTHLY INVESTMENT REPORT

Receive and file TREASURER’S MONTHLY INVESTMENT REPORT

ENTITLED: TREASURER’S MONTHLY INVESTMENT REPORT

ADJOURNMENT

Having no further discussion, it was moved by Member Santana, seconded by Member Flores to adjourn the Lynwood Public Financing Authority at 6:56 p.m.

Motion carried by unanimous consent.

_________________________ _______________________
Maria Quinonez, Secretary Jorge Casanova, President

Lynwood Public Financing Authority - Page 15 of 60 Agenda Item # 2 1 Lynwood Public Financing Authority Meeting
Meeting Minutes
April 19, 2022

01. CALL TO ORDER
The Lynwood Public Financing Authority Meeting of the City of Lynwood met in the Council Chambers, 11350 Bullis Road Lynwood, CA 90262 or Web conference via ZOOM - To participate via Zoom or by telephone: 1-669-900-9128 or 1-253- 215- 8782 Meeting ID: 835 2029 8238 on the above date at 6:00 p.m.

Meeting was called to order at 6:49 p.m.

President Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quinonez announced that the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS
PRESENT: MEMBERS FLORES, SANTANA, SOTO, VICE PRESIDENT

SOLACHE AND PRESIDENT CASANOVA
ABSENT: NONE

STAFF PRESENT: Chief Administrative Officer Hernandez , City Attorney Tapia, City Treasurer Camacho and Secretary Quinonez.

04. GOVERNMENT CODE SECTION 54954.3

Secretary Quinonez requested Assistant to Secretary Silvia Pineda to read the government code.

Assistant to Secretary Silvia Pineda stated the following:

Members of the City Council are also members of the Lynwood Public Financing Authority, which is concurrently convening with the City Council this evening and each Council Member is paid an additional stipend of $100 for attending the Lynwood Public Financing Authority Meeting. Further, the Authority is scheduled to meet four (4) times per year. If additional meetings are required beyond the scheduled four (4) meetings, the City Council will only get paid for the first four (4) meetings.

Lynwood Public Financing Authority - Page 16 of 60 Agenda Item # 2 2 PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS
NONE

MOTION: It was moved by Vice President Solache, seconded by Member Santana to approve the consent calendar and receive and file staff reports.

Motion carried by unanimous consent.

ROLL CALL:

AYES: MEMBERS FLORES, SANTANA, SOTO, VICE PRESIDENT

SOLACHE AND PRESIDENT CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

05. TREASURER’S QUARTERLY REPORT

Receive and file TREASURER’S QUARTERLY REPORT

ENTITLED: TREASURER’S QUARTERLY REPORT

ADJOURNMENT

Having no further discussion, it was moved by Vice President Solache, seconded by Member Santana to adjourn the Lynwood Public Financing Authority at 6:51 p.m. Motion carried by unanimous consent.

_________________________ _______________________ Maria Quinonez, Secretary Jorge Casanova, President

Lynwood Public Financing Authority - Page 17 of 60 Agenda Item # 2 1 Lynwood Public Financing Authority Meeting
Meeting Minutes
May 17, 2022

01. CALL TO ORDER
The Lynwood Public Financing Authority Meeting of the City of Lynwood met in the Council Chambers, 11350 Bullis Road Lynwood, CA 90262 or Web conference via ZOOM - To participate via Zoom or by telephone: 1-669-900-9128 or 1-253- 215- 8782 Meeting ID: 835 2029 8238 on the above date at 6:00 p.m.

Meeting was called to order at 7:16 p.m.

President Casanova presiding
.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quinonez announced that the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS
PRESENT: MEMBERS FLORES, VICE PRESIDENT SOLACHE AND

PRESIDENT CASANOVA
ABSENT: MEMBERS SANTANA AND SOTO

STAFF PRESENT: Chief Administrative Officer H ernandez, City Attorney Tapia, City Treasurer Camacho and Secretary Quinonez.

04. GOVERNMENT CODE SECTION 54954.3

Secretary Quinonez stated the following:

Members of the City Council are also members of the Lynwood Public Financing Authority, which is concurrently convening with the City Council this evening and each Council Member is paid an additional stipend of $100 for attending the Lynwood Public Financing Authority Meeting. Further, the Authority is scheduled to meet four (4) times per year. If additional meetings are required beyond the scheduled four (4) meetings, the City Council will only get paid for the first four (4) meetings.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE

City Attorney Tapia stated that City Council item 12 would be considered jointly with Lynwood Public Financing Authority item 6 and if anyone would like to make public comment on these agenda items it would be appropriate to do so now.

Lynwood Public Financing Authority - Page 18 of 60 Agenda Item # 2 2 NON-AGENDA PUBLIC ORAL COMMUNICATIONS
NONE

President Casanova requested that item 5 be considered separately.

MOTION: It was moved by Vice President Solache, seconded by Member Flores to approve item 5 of the consent calendar and to receive and file staff reports.

Motion carried by 3-0 vote.

ROLL CALL:

AYES: MEMBERS FLORES, VICE PRESIDENT SOLACHE AND

PRESIDENT CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: MEMBERS SANTANA AND SOTO

05. TREASURER'S MONTHLY INVESTMENT REPORT

Received and Filed TREASURER'S MONTHLY INVESTMENT REPORT

ENTITLED: TREASURER'S MONTHLY INVESTMENT REPORT

President Casanova requested City Council item 12 be considered with item 6.

Chief Administrative Officer Hernandez and City Attorney Tapia noted the items are required to be open for discussion and stated staff would make a presentation.

06. APPROVING PENSION UNFUNDED ACCRUED LIABILITY (“UAL”)

REFINANCE WITH THE ISSUANCE OF LEASE REVENUE BONDS BY THE

LYNWOOD PUBLIC FINANCING AUTHORITY IN MAXIMUM AMOUNT OF $50,000,000 (FEDERALLY TAXABLE); APPROVING, AUTHORIZING AND

DIRECTING EXECUTION OF CERTAIN LEASE

MOTION: It was moved by Vice President Solache to approve City Council item 12 jointly with Lynwood Public Financing Authority item 6 and seconded by Member Flores to approve jointly City Council item 12 with Lynwood Public Financing Authority item 6 of the consent calendar and to receive and file staff reports. Motion carried by 3 -0 vote.

Lynwood Public Financing Authority - Page 19 of 60 Agenda Item # 2 3 ROLL CALL:

AYES: MEMBERS FLORES, VICE PRESIDENT SOLACHE AND

PRESIDENT CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: MEMBERS SANTANA AND SOTO

Approved and Adopted RESOLUTION NO. 2022.002

ENTITLED: A RESOLUTION OF THE LYNWOOD PUBLIC FINANCING

AUTHORITY AUTHORIZING THE ISSUANCE OF LEASE REVENUE BONDS,

AUTHORIZING AND DIRECTING EXECUTION OF AN INDENTURE, A LEASE,

A SITE LEASE, AND CERTAIN OTHER DOCUMENTS, AUTHORIZING THE

NEGOTIATION FOR THE SALE OF BONDS, AND AUTHORIZING OTHER

RELATED ACTIONS

ADJOURNMENT

Having no further discussion, it was moved by Vice President Solache, seconded by Member Flores to adjourn the Lynwood Public Financing Authority at 7:40 p.m.

Motion carried by unanimous consent.

_________________________ _______________________ Maria Quinonez, Secretary Jorge Casanova, President Lynwood Public Financing Authority - Page 20 of 60 Agenda Item # 2 Agenda Item # 6.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable President and Members of the Public Finance Authority

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Gabriela Camacho, City Treasurer
Sheila Harding, Deputy City Treasurer

SUBJECT:

TREASURER'S MONTHLY INVESTMENT REPORT
Recommendation:

It is recommended that the City Council for the City of Lynwood receive and file the attached Monthly Investment Report.

Background:

Government Code Section 53607, last amended 1996, with reference to the reporting of investment transactions states that the Treasurer
shall
make a monthly report of those transaction to the legislative body. Government Code Section 53646 (b) (1), last amended 2004, with reference to discussion related to establishment of an Investment Policy and investment reporting states that “the Treasurer may render a quarterly report”. To determine the applicable code inasmuch as reference to Government Code Section 53607 or non-compliance thereof has never been included in past audit findings. While Government Code Section 53646 (b) (1) which is the most current version related to Investment Reporting utilizes the word “may” indicating the reporting mechanism is optional, to err on the side of caution, and in order to ensure that we are in compliance with all Government Codes, a new procedure of submitting monthly reports to the Council/Agency agenda was implemented. Attached for Council/Agency review is the City’s/Agency’s Monthly Treasurer’s Report.

Subsequent reports will be provided on a monthly basis at the second meeting of each month.

Discussion and Analysis:

Lynwood Public Financing Authority - Page 21 of 60 Agenda Item # 3 The investment transactions were executed in accordance with the City's Investment Policy and the California State Government Code Section 5346(b)(3) that requires the general fund is able to meet its expenditure requirements for the next six months.

Fiscal Impact:

The action recommended in this report will not have a fiscal impact on the City.

Coordinated With:

FHN Financial Main Street Advisors currently monitors the City’s investment activities.

ATTACHMENTS:

Description
ACTIVITY & PERFORMANCE - MAY 2022
FHN REPORT - MAY 2022
CNBC ECONOMIC REPORT - MAY 2022
FHN ECONOMIC REPORT - MAY 2022
Lynwood Public Financing Authority - Page 22 of 60 Agenda Item # 3

ACTIVITY & PERFORMANCE SUMMARY
MAY 31, 2022

The following is the City’s cash flow and the monthly investment report. The monthly report includes a summary of the City’s investment portfolio, a monthly review of the investment market as prepared by the investment managers and detailed information on monthly transactions, cash flows and investments by issuer.

FHN Investment Advisors manage the portion of investments not invested by LAIF (State Local Agency Investment Fund).

The tables below provide key statistics regarding the City’s cash flow and investment portfolio as of May 31, 2022.

Type Balances Held
Cash - US Bank $ 58,476,732.63
Cash - JPMorgan Chase Bank $ 7,589,016.25
Local Agency Investment Fund $ 9,545,267.55
FHN Investment Advisors/BNY $ 16,121,849.57
TOTAL $ 91,121,849.57

ACCOUNT SUMMARY
May 31, 2022 Apr 30, 2022
Market Value $25,667,117 $25,573,021
Book Value $26,254,319 $26,227,898
Variance -$587,202 -$654,878
Par Value $26,209,933 $26,181,918
Net Asset Value $97.76 $97.50
Book Yield 1.07% 1.03%
Market Yield 1.81% 1.80%
Years to Maturity 1.55 1.49
Effective Duration 1.45 1.44

INVESTMENT COMPLIANCE
% %
Company Book Value of Portfolio of Total
US Treasuries 6,500,000.00 24.77 100%
US Federal Agencies 3,800,000.00 14.56 100%
Supranational Obligations 0.00 0% 30%
LAIF 9,545,267.55 36.36 100%
Commercial Paper 350,000.00 1.33 25%
Money Market Funds 294,665.76 1.12 20%
Negotiable Certificates of Deposit 3,720,000.00 14.17 30% Corporate Obligations 2,000,000.00 7.70 30%
State and Local Governments 0.00 0% 100%

All of the City’s rated investments were rated “A” or higher by at least two rating agencies on May 31, 2022. The City’s investments comply with its current investment policy, which emphasizes the safety, liquidity, and return of its investments, allowing the city to meet its expenditures for the next six months.

Lynwood Public Financing Authority - Page 23 of 60 Agenda Item # 3

ACTIVITY & PERFORMANCE SUMMARY
MAY 31, 2022

INCOME EARNED SUMMARY

May 31, Month
End
Fiscal Year to
Date
Interest
Interest Received/Purchased. 28,015.79 260,697.82
Plus Accrued Interest at End of Period 46,919.00 46,919.00 Less Accrued Interest at Beginning of Period -54,742.47 -67,702.76 Interest Earned During Period 20,192.32 239,914.06

Total Adjustments for Amortization/Accretion -1,594.96 -17,543.36 Total Capital Gains or Losses 0.00 0.00
Total Earnings During Period 18,597.36 222,370.70

Lynwood Public Financing Authority - Page 24 of 60 Agenda Item # 3 Run Date: 6/2/2022 - 1:08 PM
Amortizing Page 2
Portfolio Summary
City of Lynwood 5/31/2022

SECTOR ALLOCATION MATURITY DISTRIBUTION CREDIT QUALITY (MOODY'S)

ACCOUNT SUMMARY MONTH-END PORTFOLIO BOOK YIELD TOP ISSUERS 5/31/22 4/30/22 Issuer % Portfolio
Market Value $25,667,117 $25,573,021 LAIF 36.4%
Book Value $26,254,319 $26,227,898 U.S. Treasury 24.8%
Variance -$587,202 -$654,878 FHLB 6.2%
FNMA 3.8%
Par Value $26,209,933 $26,181,918 FFCB 2.7%
JPMorgan 1.9%
Net Asset Value $97.76 $97.50 FHLMC 1.9%
Royal Bank of Canada 1.3%
Book Yield 1.07% 1.03% Goldman Sachs Govt MMF 1.1%
Exxon Mobil 1.0%
Market Yield 1.81% 1.80% Toyota 1.0%
US Bancorp 1.0%
Years to Maturity 1.55 1.49 Jackson National Life 1.0%
New York Life 1.0%
Effective Duration 1.45 1.44 Charles Schwab 1.0%
Jun-21
Jul-21
Aug-21
Sep-21
Oct-21
Nov-21
Dec-21
Jan-22
Feb-22
Mar-22
Apr-22
May-22

0.60%

0.70%

0.80%

0.90%

1.00%

1.10%

1.1%

1.3%

7.7%

14.2%

14.6%

24.8%

36.4%
MMF
CP
CORP
CD
AGY
TSY
LAIF
100%75%50%25%0%

48.3%

14.3% 11.5% 13.2% 12.7%
0-1Y 1-2Y 2-3Y 3-4Y 4-5Y+
0%
10%
20%
30%
40%
50%
60%
70%

50.5%

3.8%

1.9%

1.0%

41.4%

1.3%
NR
A3
A2
A1
Aa3
Aa2
Aa1
Aaa
P-1
100%75%50%25%0%
2 Lynwood Public Financing Authority - Page 25 of 60 Agenda Item # 3 Run Date: 6/2/2022 - 1:08 PM
Amortizing Page 3
Investment Policy Compliance
City of Lynwood 5/31/2022
Category Book Value % of Portfolio % Allowed by Policy In ComplianceReserved row US Treasuries 6,501,892.55 24.77% 100% Yes
US Federal Agencies 3,823,277.39 14.56% 100% Yes
Supranational Obligations 0.00 0.00% 30% Yes
LAIF 9,545,267.55 36.36% 100% Yes
Commercial Paper 349,886.56 1.33% 25% Yes
Money Market Funds 294,665.76 1.12% 20% Yes
Negotiable Certificates of Deposit 3,719,047.77 14.17% 30% Yes Corporate Obligations 2,020,281.63 7.70% 30% Yes
State and Local Governments 0.00 0.00% 100% Yes
Total 26,254,319.22 100.00%
Other Metrics Portfolio Metric In Compliance
Weighted Average Maturity 1.55 Less than 3.0 Years Yes
Liquidity 48.30% 30% Under 365 Days Yes
Ratings Yes
3 Lynwood Public Financing Authority - Page 26 of 60 Agenda Item # 3 Holdings Report
City of Lynwood May 31, 2022
Call Date
Maturity Date
Par Value
Settle Date
Book Value
Original Value
Mkt YTM
Mkt Price
Gain/Loss
% of Port
Fitch
Moody/S&P
Eff. Dur.

WAM
Accrued Int.

Market Value
CUSIP Coupon Rate
Issuer
Book Yield
Remaining
Certificates of Deposit
33847E2J5 248,000.00Flagstar Bank 06/12/2019 248,000.00 100.05 248,129.61 0.94% NR/NR 0.0406/13/2022 129.61 NR 0.03 2,904.66 2.50% 248,000.00 1.07%2.500% 1404203Z1 248,000.00Capital One Bank USA 08/03/2017 247,417.20 100.18 248,455.00 0.94% NR/NR 0.1708/02/2022 475.11 NR 0.17 1,859.66 2.35% 247,979.88 1.25%2.300% 795450D36 248,000.00Sallie Mae Bank 08/24/2017 247,417.20 100.26 248,635.94 0.94% NR/NR 0.2308/23/2022 662.76 NR 0.23 1,564.78 2.40% 247,973.18 1.24%2.350% 61747MF63 248,000.00Morgan Stanley Bank 01/12/2018 247,417.20 100.31 248,759.99 0.94% NR/NR 0.6201/11/2023 831.84 NR 0.60 2,538.77 2.70% 247,928.15 2.14%2.650% 59013J5Z8 248,000.00Merrick Bank 12/19/2018 247,516.40 100.78 249,923.93 0.94% NR/NR 0.7302/21/2023 2,008.28 NR 0.70 318.66 3.41% 247,915.65 2.26%3.350% 20033AZK5 248,000.00Comenity Capital Bank 06/29/2018 247,427.12 100.60 249,495.60 0.94% NR/NR 1.0806/29/2023 1,619.21 NR 1.04 67.27 3.40% 247,876.39 2.73%3.300%
38148PR33 248,000.00Goldman Sachs Bank 07/09/2018 247,432.08 100.59 249,472.39 0.94% NR/NR 1.1007/06/2023 1,597.31 NR 1.06 3,273.60 3.35% 247,875.08 2.75%3.300% 949763TF3 248,000.00Wells Fargo Bank NA 08/31/2018 247,429.60 100.67 249,649.58 0.94% NR/NR 1.2508/30/2023 1,792.10 NR 1.20 44.84 3.35% 247,857.48 2.76%3.300%
29278TLY4 248,000.00EnerBank 09/30/2019 247,523.84 98.98 245,459.87 0.94% NR/NR 1.3309/27/2023 -2,382.06 NR 1.29 67.95 2.05% 247,841.93 2.79%2.000% 17312Q3B3 248,000.00Citibank 02/28/2019 247,427.12 100.27 248,671.35 0.94% NR/NR 1.7502/27/2024 871.30 NR 1.67 1,916.05 3.05% 247,800.04 2.84%3.000% 32100LCB9 248,000.00First Missouri State Bank 09/13/2019 248,000.00 97.68 242,248.12 0.94% NR/NR 2.2909/13/2024 -5,751.88 NR 2.22 1,005.59 1.85% 248,000.00 2.91%1.850% 05580AXF6 248,000.00BMW Bank 09/25/2020 248,000.00 92.40 229,148.02 0.94% NR/NR 3.3209/25/2025 -18,851.98 NR 3.28 231.01 0.50% 248,000.00 2.92%0.500% 856283S98 248,000.00State Bank of India 04/27/2021 248,000.00 93.04 230,728.61 0.94% NR/NR 3.9104/27/2026 -17,271.39 NR 3.82 237.81 1.00% 248,000.00 2.90%1.000% 89235MLC3 248,000.00Toyota Financial Savings Bank 07/15/2021 248,000.00 92.49 229,379.22 0.94% NR/NR 4.1307/15/2026 -18,620.78 NR 4.02 884.31 0.95% 248,000.00 2.89%0.950% 90348JR93 248,000.00UBS Bank USA 08/11/2021 248,000.00 92.33 228,973.23 0.94% NR/NR 4.2008/11/2026 -19,026.77 NR 4.09 135.55 0.95% 248,000.00 2.90%0.950% 3,715,007.76 3,647,130.44 14.17% 1.74
3,719,047.77 2.25% 3,720,000.00 2.42% 17,050.51 -71,917.34 1.69Total Certificates of Deposit Commercial Paper
78015DG61 350,000.00Royal Bank of Canada, NY 12/20/2021 349,364.75 99.82 349,374.38 1.33% P-1/A-1+ 0.1007/06/2022 -512.19 F1+ 0.10 0.00 0.33% 349,886.56 2.08%0.000%
Run Date: 6/2/2022 - 1:09 PM
Amortizing
16Lynwood Public Financing Authority - Page 27 of 60 Agenda Item # 3 Holdings Report
City of Lynwood May 31, 2022
Call Date
Maturity Date
Par Value
Settle Date
Book Value
Original Value
Mkt YTM
Mkt Price
Gain/Loss
% of Port
Fitch
Moody/S&P
Eff. Dur.

WAM
Accrued Int.

Market Value
CUSIP Coupon Rate
Issuer
Book Yield
Remaining
349,364.75 349,374.38 1.33% 0.10
349,886.56 0.33% 350,000.00 2.08% 0.00 -512.19 0.10Total Commercial Paper Corporate Bonds
46849LSW2 250,000.00Jackson National Life 07/12/2017 247,795.00 100.05 250,127.50 0.95% A2/A 0.0706/27/2022 159.62 A 0.07 2,673.61 2.69% 249,967.88 1.77%2.500%
90331HNV1 250,000.00US Bank 03/01/2019 253,307.50 100.89 252,225.00 0.96% A1/AA- 1.1507/24/2023 1,362.08 AA- 1.06 2,998.61 3.08% 250,862.92 2.61%3.400% 06/23/2023 89236TFS9 250,000.00Toyota Motor Credit 02/28/2019 253,545.00 100.93 252,332.50 0.96% A1/A+ 1.6101/08/2024 1,161.64 A+ 1.54 3,326.74 3.03% 251,170.86 2.75%3.350% 46625HJX9 500,000.00JPMorgan Chase & Co 05/13/2019 515,115.00 101.21 506,050.00 1.93% A2/A- 1.9505/13/2024 155.15 AA- 1.87 906.25 2.97% 505,894.85 2.98%3.625%
64952WDL4 250,000.00New York Life 01/22/2020 249,102.50 96.64 241,610.00 0.95% Aaa/AA+ 2.6501/22/2025 -7,915.82 AAA 2.53 1,791.67 2.08% 249,525.82 3.34%2.000% 30231GBH4 250,000.00Exxon Mobil 06/22/2020 272,752.50 99.95 249,875.00 1.00% Aa2/AA- 2.8003/19/2025 -13,560.57 NR 2.63 1,496.00 0.99% 263,435.57 3.01%2.992% 02/19/2025 808513BW4 250,000.00Charles Schwab 04/12/2022 249,407.50 99.00 247,510.00 0.95% A2/A 4.8404/01/2027 -1,913.73 A 4.35 1,375.00 3.35% 249,423.73 3.53%3.300% 2,041,025.00 1,999,730.00 7.69% 2.13
2,020,281.63 2.63% 2,000,000.00 2.87% 14,567.88 -20,551.63 1.99Total Corporate Bonds LAIF
9819499 9,545,267.55LAIF 04/15/2022 9,545,267.55 1.00 9,545,267.55 36.36% NR/NR 0.0006/01/2022

0.00 NR 0.00 0.00 0.52% 9,545,267.55 0.52%0.523%
9,545,267.55 9,545,267.55 36.36% 0.00
9,545,267.55 0.52% 9,545,267.55 0.52% 0.00 0.00 0.00Total LAIF Money Market Funds
FGTXX 294,665.76Goldman Sachs Govt MMF 294,665.76 1.00 294,665.76 1.12% Aaa/AAA 0.0006/01/2022

0.00 NR 0.00 0.00 0.68% 294,665.76 0.68%0.681%
294,665.76 294,665.76 1.12% 0.00
294,665.76 0.68% 294,665.76 0.68% 0.00 0.00 0.00Total Money Market Funds Run Date: 6/2/2022 - 1:09 PM
Amortizing
17Lynwood Public Financing Authority - Page 28 of 60 Agenda Item # 3 Holdings Report
City of Lynwood May 31, 2022
Call Date
Maturity Date
Par Value
Settle Date
Book Value
Original Value
Mkt YTM
Mkt Price
Gain/Loss
% of Port
Fitch
Moody/S&P
Eff. Dur.

WAM
Accrued Int.

Market Value
CUSIP Coupon Rate
Issuer
Book Yield
Remaining
U.S. Agencies
3135G0T78 500,000.00FNMA 11/30/2017 497,400.00 100.20 501,015.00 1.90% Aaa/AA+ 0.3510/05/2022 1,201.25 AAA 0.34 1,555.56 2.11% 499,813.75 1.40%2.000% 3133EKTV8 500,000.00FFCB 07/02/2019 499,900.00 98.89 494,465.00 1.90% Aaa/AA+ 2.0907/01/2024 -5,493.31 AAA 2.02 3,958.33 1.90% 499,958.31 2.45%1.900% 3133EK3B0 200,000.00FFCB 10/17/2019 198,370.00 97.56 195,124.00 0.76% Aaa/AA+ 2.3810/16/2024 -4,101.32 AAA 2.32 375.00 1.67% 199,225.32 2.56%1.500% 3130A4CH3 500,000.00FHLB 10/07/2020 541,330.00 98.92 494,575.00 2.00% Aaa/AA+ 2.7903/14/2025 -31,382.41 AAA 2.67 2,539.93 0.49% 525,957.41 2.78%2.375% 3136G4H71 500,000.00FNMA 08/18/2020 500,000.00 93.08 465,380.00 1.90% Aaa/AA+ 3.2008/12/2025 -34,620.00 AAA 3.15 715.28 0.50% 500,000.00 2.78%0.500% 02/18/2022 3137EAEX3 500,000.00FHLMC 10/20/2020 497,505.00 92.41 462,025.00 1.90% Aaa/AA+ 3.3209/23/2025 -36,297.59 AAA 3.26 354.17 0.48% 498,322.59 2.79%0.375% 3130AQEC3 500,000.00FHLB 12/30/2021 500,000.00 94.58 472,890.00 1.90% Aaa/AA+ 4.5912/30/2026 -27,110.00 AAA 4.29 2,873.19 1.37% 500,000.00 2.63%1.370% 06/30/2022 3130ARTT8 600,000.00FHLB 05/19/2022 600,000.00 100.51 603,030.00 2.29% Aaa/AA+ 4.9705/19/2027 3,030.00 AAA 2.51 600.00 3.00% 600,000.00 2.89%3.000% 05/19/2023 3,834,505.00 3,688,504.00 14.56% 3.06
3,823,277.39 1.46% 3,800,000.00 2.55% 12,971.46 -134,773.38 2.59Total U.S. Agencies U.S. Treasuries
912828ZD5 500,000.00U.S. Treasury 12/16/2020 504,140.63 98.89 494,455.00 1.91% Aaa/AA+ 0.7903/15/2023 -7,001.05 AAA 0.78 529.89 0.13% 501,456.05 1.92%0.500% 91282CAW1 1,000,000.00U.S. Treasury 07/22/2021 999,960.94 97.07 970,660.00 3.81% Aaa/AA+ 1.4611/15/2023 -29,315.39 AAA 1.44 115.49 0.25% 999,975.39 2.31%0.250% 91282CBV2 500,000.00U.S. Treasury 11/22/2021 496,308.59 96.15 480,725.00 1.89% Aaa/AA+ 1.8804/15/2024 -16,385.15 AAA 1.85 240.78 0.69% 497,110.15 2.49%0.375% 912828YV6 1,000,000.00U.S. Treasury 07/22/2021 1,035,742.19 97.20 971,950.00 3.91% Aaa/AA+ 2.5011/30/2024 -54,674.58 AAA 2.44 40.98 0.43% 1,026,624.58 2.67%1.500% 912828ZT0 500,000.00U.S. Treasury 06/29/2021 491,542.97 92.89 464,455.00 1.88% Aaa/AA+ 3.0005/31/2025 -29,072.30 AAA 2.96 3.42 0.69% 493,527.30 2.73%0.250% 91282CAZ4 1,000,000.00U.S. Treasury 07/22/2021 989,492.19 91.97 919,730.00 3.78% Aaa/AA+ 3.5011/30/2025 -71,828.11 AAA 3.44 10.25 0.62% 991,558.11 2.80%0.375% 91282CBH3 500,000.00U.S. Treasury 02/25/2021 494,433.59 91.59 457,950.00 1.89% Aaa/AA+ 3.6701/31/2026 -37,905.33 AAA 3.60 626.73 0.60% 495,855.33 2.80%0.375% 91282CCF6 1,000,000.00U.S. Treasury 07/22/2021 1,002,382.81 92.22 922,150.00 3.82% Aaa/AA+ 4.0005/31/2026 -79,812.39 AAA 3.90 20.49 0.70% 1,001,962.39 2.82%0.750% Run Date: 6/2/2022 - 1:09 PM
Amortizing
18Lynwood Public Financing Authority - Page 29 of 60 Agenda Item # 3 Holdings Report
City of Lynwood May 31, 2022
Call Date
Maturity Date
Par Value
Settle Date
Book Value
Original Value
Mkt YTM
Mkt Price
Gain/Loss
% of Port
Fitch
Moody/S&P
Eff. Dur.

WAM
Accrued Int.

Market Value
CUSIP Coupon Rate
Issuer
Book Yield
Remaining
U.S. Treasuries
91282CCZ2 500,000.00U.S. Treasury 10/19/2021 492,949.22 92.07 460,370.00 1.88% Aaa/AA+ 4.3409/30/2026 -33,453.25 AAA 4.21 741.12 1.17% 493,823.25 2.83%0.875% 6,506,953.13 6,142,445.00 24.76% 2.81
6,501,892.55 0.56% 6,500,000.00 2.61% 2,329.15 -359,447.55 2.75Total U.S. Treasuries 26,286,788.95 25,667,117.13 100.00% 1.55
46,919.00 -587,202.09 1.45 1.81% 26,254,319.22 1.07% 26,209,933.31TOTAL PORTFOLIO TOTAL MARKET VALUE PLUS ACCRUED INTEREST 25,714,036.13 Run Date: 6/2/2022 - 1:09 PM
Amortizing
19Lynwood Public Financing Authority - Page 30 of 60 Agenda Item # 3 Maturity Report
City of Lynwood May 31, 2022
CUSIP Date
Purchase
Value
Book
Rate
Coupon
Date
Maturity
Par
Remaining
Term Value
Market
YTMIssuer
Days to
Maturity
Book
FGTXX 0.681% 1Goldman Sachs Govt MMF 294,665.76 06/01/2022 1 0.68% 294,665.76 294,665.76 9819499 0.523% 1LAIF 05/18/2020 9,545,267.55 06/01/2022 1 0.52% 9,545,267.55 9,545,267.55 33847E2J5 2.500% 1,084Flagstar Bank 06/12/2019 248,000.00 06/13/2022 13 2.50% 248,000.00 248,129.61 46849LSW2 2.500% 1,784Jackson National Life 07/12/2017 249,967.88 06/27/2022 27 2.69% 250,000.00 250,127.50 78015DG61 0.000% 162Royal Bank of Canada, NY 12/20/2021 349,886.56 07/06/2022 36 0.33% 350,000.00 349,374.38 1404203Z1 2.300% 1,762Capital One Bank USA 08/03/2017 247,979.88 08/02/2022 63 2.35% 248,000.00 248,455.00 795450D36 2.350% 1,741Sallie Mae Bank 08/24/2017 247,973.18 08/23/2022 84 2.40% 248,000.00 248,635.94 3135G0T78 2.000% 1,643FNMA 11/30/2017 499,813.75 10/05/2022 127 2.11% 500,000.00 501,015.00 61747MF63 2.650% 1,600Morgan Stanley Bank 01/12/2018 247,928.15 01/11/2023 225 2.70% 248,000.00 248,759.99 59013J5Z8 3.350% 1,259Merrick Bank 12/19/2018 247,915.65 02/21/2023 266 3.41% 248,000.00 249,923.93 912828ZD5 0.500% 531U.S. Treasury 12/16/2020 501,456.05 03/15/2023 288 0.13% 500,000.00 494,455.00 20033AZK5 3.300% 1,432Comenity Capital Bank 06/29/2018 247,876.39 06/29/2023 394 3.40% 248,000.00 249,495.60 38148PR33 3.300% 1,422Goldman Sachs Bank 07/09/2018 247,875.08 07/06/2023 401 3.35% 248,000.00 249,472.39 90331HNV1 3.400% 1,187US Bank 03/01/2019 250,862.92 07/24/2023 419 3.08% 250,000.00 252,225.00 949763TF3 3.300% 1,369Wells Fargo Bank NA 08/31/2018 247,857.48 08/30/2023 456 3.35% 248,000.00 249,649.58 29278TLY4 2.000% 974EnerBank 09/30/2019 247,841.93 09/27/2023 484 2.05% 248,000.00 245,459.87 91282CAW1 0.250% 313U.S. Treasury 07/22/2021 999,975.39 11/15/2023 533 0.25% 1,000,000.00 970,660.00 89236TFS9 3.350% 1,188Toyota Motor Credit 02/28/2019 251,170.86 01/08/2024 587 3.03% 250,000.00 252,332.50 17312Q3B3 3.000% 1,188Citibank 02/28/2019 247,800.04 02/27/2024 637 3.05% 248,000.00 248,671.35 91282CBV2 0.375% 190U.S. Treasury 11/22/2021 497,110.15 04/15/2024 685 0.69% 500,000.00 480,725.00 46625HJX9 3.625% 1,114JPMorgan Chase & Co 05/13/2019 505,894.85 05/13/2024 713 2.97% 500,000.00 506,050.00 3133EKTV8 1.900% 1,064FFCB 07/02/2019 499,958.31 07/01/2024 762 1.90% 500,000.00 494,465.00 32100LCB9 1.850% 991First Missouri State Bank 09/13/2019 248,000.00 09/13/2024 836 1.85% 248,000.00 242,248.12 3133EK3B0 1.500% 957FFCB 10/17/2019 199,225.32 10/16/2024 869 1.67% 200,000.00 195,124.00 912828YV6 1.500% 313U.S. Treasury 07/22/2021 1,026,624.58 11/30/2024 914 0.43% 1,000,000.00 971,950.00 64952WDL4 2.000% 860New York Life 01/22/2020 249,525.82 01/22/2025 967 2.08% 250,000.00 241,610.00 3130A4CH3 2.375% 601FHLB 10/07/2020 525,957.41 03/14/2025 1,018 0.49% 500,000.00 494,575.00 30231GBH4 2.992% 708Exxon Mobil 06/22/2020 263,435.57 03/19/2025 1,023 0.99% 250,000.00 249,875.00 912828ZT0 0.250% 336U.S. Treasury 06/29/2021 493,527.30 05/31/2025 1,096 0.69% 500,000.00 464,455.00 3136G4H71 0.500% 651FNMA 08/18/2020 500,000.00 08/12/2025 1,169 0.50% 500,000.00 465,380.00 3137EAEX3 0.375% 588FHLMC 10/20/2020 498,322.59 09/23/2025 1,211 0.48% 500,000.00 462,025.00 05580AXF6 0.500% 613BMW Bank 09/25/2020 248,000.00 09/25/2025 1,213 0.50% 248,000.00 229,148.02 91282CAZ4 0.375% 313U.S. Treasury 07/22/2021 991,558.11 11/30/2025 1,279 0.62% 1,000,000.00 919,730.00 91282CBH3 0.375% 460U.S. Treasury 02/25/2021 495,855.33 01/31/2026 1,341 0.60% 500,000.00 457,950.00 856283S98 1.000% 399State Bank of India 04/27/2021 248,000.00 04/27/2026 1,427 1.00% 248,000.00 230,728.61 91282CCF6 0.750% 313U.S. Treasury 07/22/2021 1,001,962.39 05/31/2026 1,461 0.70% 1,000,000.00 922,150.00 Run Date: 6/2/2022 - 1:09 PM
Amortizing
20Lynwood Public Financing Authority - Page 31 of 60 Agenda Item # 3 Maturity Report
City of Lynwood May 31, 2022
CUSIP Date
Purchase
Value
Book
Rate
Coupon
Date
Maturity
Par
Remaining
Term Value
Market
YTMIssuer
Days to
Maturity
Book
89235MLC3 0.950% 320Toyota Financial Savings Bank 07/15/2021 248,000.00 07/15/2026 1,506 0.95% 248,000.00 229,379.22 90348JR93 0.950% 293UBS Bank USA 08/11/2021 248,000.00 08/11/2026 1,533 0.95% 248,000.00 228,973.23 91282CCZ2 0.875% 224U.S. Treasury 10/19/2021 493,823.25 09/30/2026 1,583 1.17% 500,000.00 460,370.00 3130AQEC3 1.370% 152FHLB 12/30/2021 500,000.00 12/30/2026 1,674 1.37% 500,000.00 472,890.00 808513BW4 3.300% 49Charles Schwab 04/12/2022 249,423.73 04/01/2027 1,766 3.35% 250,000.00 247,510.00 3130ARTT8 3.000% 12FHLB 05/19/2022 600,000.00 05/19/2027 1,814 3.00% 600,000.00 603,030.00 Net Maturities and Averages 26,254,319.22 568 1.07% 25,667,117.13 26,209,933.31 Run Date: 6/2/2022 - 1:09 PM
Amortizing
21Lynwood Public Financing Authority - Page 32 of 60 Agenda Item # 3 Income Earned
City of Lynwood May 01, 2022 - May 31, 2022
CUSIP Value
Ending Par
Date
Maturity
Book Value
Beginning
Value
Ending Book
Accrued
Beginning
/Purchased
Int.Received
Accrued
Ending
Issuer Earned
Interest Amortization/
Accretion Earned
Net Income
Certificates of Deposit
27002YEM4 05/10/2022 0.00EagleBank 248,000.00 0.00 370.98 529.97 0.00 158.99 0.00 158.99 33847E2J5 06/13/2022 248,000.00Flagstar Bank 248,000.00 248,000.00 2,378.08 0.00 2,904.66 526.58 0.00 526.58 1404203Z1 08/02/2022 248,000.00Capital One Bank USA 247,969.98 247,979.88 1,375.21 0.00 1,859.66 484.45 9.90 494.35 795450D36 08/23/2022 248,000.00Sallie Mae Bank 247,963.28 247,973.18 1,069.80 0.00 1,564.78 494.98 9.90 504.88 61747MF63 01/11/2023 248,000.00Morgan Stanley Bank 247,918.25 247,928.15 1,980.60 0.00 2,538.77 558.17 9.90 568.07 59013J5Z8 02/21/2023 248,000.00Merrick Bank 247,905.82 247,915.65 295.90 682.85 318.66 705.61 9.83 715.44 20033AZK5 06/29/2023 248,000.00Comenity Capital Bank 247,866.66 247,876.39 44.84 672.66 67.27 695.09 9.73 704.82 38148PR33 07/06/2023 248,000.00Goldman Sachs Bank 247,865.42 247,875.08 2,578.52 0.00 3,273.60 695.08 9.66 704.74 949763TF3 08/30/2023 248,000.00Wells Fargo Bank NA 247,847.79 247,857.48 717.50 1,367.74 44.84 695.08 9.69 704.77 29278TLY4 09/27/2023 248,000.00EnerBank 247,831.81 247,841.93 54.36 407.67 67.95 421.26 10.12 431.38 17312Q3B3 02/27/2024 248,000.00Citibank 247,790.31 247,800.04 1,284.16 0.00 1,916.05 631.89 9.73 641.62 32100LCB9 09/13/2024 248,000.00First Missouri State Bank 248,000.00 248,000.00 615.92 0.00 1,005.59 389.67 0.00 389.67 05580AXF6 09/25/2025 248,000.00BMW Bank 248,000.00 248,000.00 125.70 0.00 231.01 105.31 0.00 105.31 856283S98 04/27/2026 248,000.00State Bank of India 248,000.00 248,000.00 27.18 0.00 237.81 210.63 0.00 210.63 89235MLC3 07/15/2026 248,000.00Toyota Financial Savings Bank 248,000.00 248,000.00 684.21 0.00 884.31 200.10 0.00 200.10 90348JR93 08/11/2026 248,000.00UBS Bank USA 248,000.00 248,000.00 129.10 193.64 135.55 200.09 0.00 200.09 Certificates of Deposit - Sub Total 3,720,000.00 3,966,959.31 3,719,047.77 13,732.06 3,854.53 17,050.51 7,172.98 88.46 7,261.44 Commercial Paper
78015DG61 07/06/2022 350,000.00Royal Bank of Canada, NY 349,786.09 349,886.56 0.00 0.00 0.00 0.00 100.47 100.47 Commercial Paper - Sub Total
350,000.00 349,786.09 349,886.56 0.00 0.00 0.00 0.00 100.47 100.47 Corporate Bonds
46849LSW2 06/27/2022 250,000.00Jackson National Life 249,929.59 249,967.88 2,152.78 0.00 2,673.61 520.83 38.29 559.12 90331HNV1 07/24/2023 250,000.00US Bank 250,927.69 250,862.92 2,290.28 0.00 2,998.61 708.33 -64.77 643.56 89236TFS9 01/08/2024 250,000.00Toyota Motor Credit 251,231.63 251,170.86 2,628.82 0.00 3,326.74 697.92 -60.77 637.15 46625HJX9 05/13/2024 500,000.00JPMorgan Chase & Co 506,155.16 505,894.85 8,458.33 9,062.50 906.25 1,510.42 -260.31 1,250.11 64952WDL4 01/22/2025 250,000.00New York Life 249,510.36 249,525.82 1,375.00 0.00 1,791.67 416.67 15.46 432.13 30231GBH4 03/19/2025 250,000.00Exxon Mobil 263,848.77 263,435.57 872.67 0.00 1,496.00 623.33 -413.20 210.13 808513BW4 04/01/2027 250,000.00Charles Schwab 249,413.46 249,423.73 687.50 0.00 1,375.00 687.50 10.27 697.77 Corporate Bonds - Sub Total
2,000,000.00 2,021,016.67 2,020,281.63 18,465.38 9,062.50 14,567.88 5,165.00 -735.04 4,429.96 LAIF
9819499 06/01/2022 9,545,267.55LAIF 9,545,267.55 9,545,267.55 0.00 0.00 0.00 0.00 0.00 0.00 Run Date: 6/2/2022 - 1:09 PM
Amortizing
24Lynwood Public Financing Authority - Page 33 of 60 Agenda Item # 3 Income Earned
City of Lynwood May 01, 2022 - May 31, 2022
CUSIP Value
Ending Par
Date
Maturity
Book Value
Beginning
Value
Ending Book
Accrued
Beginning
/Purchased
Int.Received
Accrued
Ending
Issuer Earned
Interest Amortization/
Accretion Earned
Net Income
LAIF - Sub Total 9,545,267.55 9,545,267.55 9,545,267.55 0.00 0.00 0.00 0.00 0.00 0.00 Money Market Funds
FGTXX 06/01/2022 294,665.76Goldman Sachs Govt MMF 618,649.97 294,665.76 98.76 98.76 0.00 0.00 0.00 0.00 Money Market Funds - Sub Total 294,665.76 618,649.97 294,665.76 98.76 98.76 0.00 0.00 0.00 0.00 U.S. Agencies
3135G0T78 10/05/2022 500,000.00FNMA 499,769.05 499,813.75 722.22 0.00 1,555.56 833.34 44.70 878.04 3133EKTV8 07/01/2024 500,000.00FFCB 499,956.59 499,958.31 3,166.67 0.00 3,958.33 791.66 1.72 793.38 3133EK3B0 10/16/2024 200,000.00FFCB 199,197.23 199,225.32 125.00 0.00 375.00 250.00 28.09 278.09 3130A4CH3 03/14/2025 500,000.00FHLB 526,759.69 525,957.41 1,550.35 0.00 2,539.93 989.58 -802.27 187.31 3136G4H71 08/12/2025 500,000.00FNMA 500,000.00 500,000.00 506.94 0.00 715.28 208.34 0.00 208.34 3137EAEX3 09/23/2025 500,000.00FHLMC 498,278.97 498,322.59 197.92 0.00 354.17 156.25 43.62 199.87 3130AQEC3 12/30/2026 500,000.00FHLB 500,000.00 500,000.00 2,302.36 0.00 2,873.19 570.83 0.00 570.83 3130ARTT8 05/19/2027 600,000.00FHLB 0.00 600,000.00 0.00 0.00 600.00 600.00 0.00 600.00 U.S. Agencies - Sub Total
3,800,000.00 3,223,961.53 3,823,277.39 8,571.46 0.00 12,971.46 4,400.00 -684.14 3,715.86 U.S. Treasuries
912828ZD5 03/15/2023 500,000.00U.S. Treasury 501,612.77 501,456.05 319.29 0.00 529.89 210.60 -156.73 53.87 91282CAW1 11/15/2023 1,000,000.00U.S. Treasury 999,973.96 999,975.39 1,153.31 1,250.00 115.49 212.18 1.43 213.61 91282CBV2 04/15/2024 500,000.00U.S. Treasury 496,979.37 497,110.15 81.97 0.00 240.78 158.81 130.78 289.59 912828YV6 11/30/2024 1,000,000.00U.S. Treasury 1,027,527.60 1,026,624.58 6,263.74 7,500.00 40.98 1,277.24 -903.02 374.22 912828ZT0 05/31/2025 500,000.00U.S. Treasury 493,344.22 493,527.30 521.98 625.00 3.42 106.44 183.08 289.52 91282CAZ4 11/30/2025 1,000,000.00U.S. Treasury 991,353.50 991,558.11 1,565.93 1,875.00 10.25 319.32 204.61 523.93 91282CBH3 01/31/2026 500,000.00U.S. Treasury 495,759.51 495,855.33 466.16 0.00 626.73 160.57 95.81 256.38 91282CCF6 05/31/2026 1,000,000.00U.S. Treasury 1,002,004.03 1,001,962.39 3,131.87 3,750.00 20.49 638.62 -41.64 596.98 91282CCZ2 09/30/2026 500,000.00U.S. Treasury 493,702.29 493,823.25 370.56 0.00 741.12 370.56 120.96 491.52 U.S. Treasuries - Sub Total
6,500,000.00 6,502,257.27 6,501,892.55 13,874.81 15,000.00 2,329.15 3,454.34 -364.71 3,089.63 26,209,933.31Grand Total 26,227,898.39 26,254,319.22 54,742.47 28,015.79 46,919.00 20,192.32 -1,594.96 18,597.36 Run Date: 6/2/2022 - 1:09 PM
Amortizing
25Lynwood Public Financing Authority - Page 34 of 60 Agenda Item # 3 Realized Gains and Losses
City of Lynwood May 01, 2022 - May 31, 2022
Par Value Sale Date Days Held Maturity/Sales RealizedCUSIP Coupon Rate Maturity Date Book Value Proceeds Gain/LossPurchase Date TermIssuer Certificates of Deposit
27002YEM4 248,000.0005/10/2019 05/10/2022 1,096 248,000.00 0.00 248,000.00 05/10/2022 1,096EagleBank 2.600%
Total Certificates of Deposit 0.00 248,000.00 248,000.00 Grand Total 0.00 248,000.00 248,000.00
Run Date: 6/2/2022 - 1:09 PM
Amortizing
26Lynwood Public Financing Authority - Page 35 of 60 Agenda Item # 3 Transaction Report
City of Lynwood May 01, 2022 - May 31, 2022
Transaction Transaction Security Security Maturity
Date Type ID Description Date Purchases Redemptions Interest Deposits Withdrawals 05/02/2022 Interest 949763TF3 WFC 3.3 08/30/23 08/30/2023 - - 695.08 - - 05/03/2022 Interest FGTXX GSGF - - 98.76 - -
05/10/2022 Interest 27002YEM4 EGBN 2.6 05/10/22 05/10/2022 - - 529.97 - - 05/10/2022 Maturity 27002YEM4 EGBN 2.6 05/10/22 05/10/2022 - 248,000.00 - - - 05/11/2022 Interest 90348JR93 UBS 0.95 08/11/26 08/11/2026 - - 193.64 - - 05/13/2022 Interest 46625HJX9 JPM 3 5/8 05/13/24 05/13/2024 - - 9,062.50 - - 05/16/2022 Interest 91282CAW1 T 0 1/4 11/15/23 11/15/2023 - - 1,250.00 - - 05/18/2022 Interest 59013J5Z8 MERICK 3.35 02/21/23 02/21/2023 - - 682.85 - - 05/19/2022 Purchase 3130ARTT8 FHLB 3 05/19/27 05/19/2027 -600,000.00 - - - - 05/27/2022 Interest 29278TLY4 CMS 2 09/27/23 09/27/2023 - - 407.67 - - 05/31/2022 Interest 912828YV6 T 1 1/2 11/30/24 11/30/2024 - - 7,500.00 - - 05/31/2022 Interest 20033AZK5 ADS 3.3 06/29/23 06/29/2023 - - 672.66 - - 05/31/2022 Interest 949763TF3 WFC 3.3 08/30/23 08/30/2023 - - 672.66 - - 05/31/2022 Interest 912828ZT0 T 0 1/4 05/31/25 05/31/2025 - - 625.00 - - 05/31/2022 Interest 91282CAZ4 T 0 3/8 11/30/25 11/30/2025 - - 1,875.00 - - 05/31/2022 Interest 91282CCF6 T 0 3/4 05/31/26 05/31/2026 - - 3,750.00 - - Grand Total: -600,000.00 248,000.00 28,015.79 0.00 0.00 Run Date: 6/2/2022 - 1:09 PM
Amortizing
27Lynwood Public Financing Authority - Page 36 of 60 Agenda Item # 3 Source:CNBC

ECONOMIC & MONETARY POLICY REPORT – MAY 2022
Federal Reserve officials earlier this month stressed the need to raise interest rates quickly and possibly more than markets anticipate tackling a burgeoning inflation problem, minutes from their meeting released Wednesday showed.

Not only did policymakers see the need to increase benchmark-borrowing rates by 50 points, but they also said similar hikes likely would be necessary at the next several meetings
They further noted that policy might have to move past a “neutral” stance in which it is neither supportive nor restrictive of growth, an important consideration for central bankers that could echo through the economy. “Most participants judged that 50 basis point increases in the target range would likely be appropriate at the next couple of meetings,” the minutes said.

In addition, Federal Open Market Committee members indicated, “a restrictive stance of policy may well become appropriate depending on the evolving economic outlook and the risks to the outlook.”
The May 3-4 session saw the rate-setting FOMC approve a half percentage point hike and lay out a plan, starting in June, to reduce the central bank’s $9 trillion balance sheet consisting mostly of treasuries and mortgage-backed securities.

That was the biggest rate increase in 22 years and came as the Fed is trying to pull down inflation running at a 40-year high.

Market pricing currently sees the Fed moving to a policy rate around 2.5%-

2.75% by the end of the year, which would be consistent with where many central bankers view a neutral rate. Statements in the minutes, though, indicate that the committee is prepared to go beyond there. “All participants reaffirmed their strong commitment and determination to take the measures necessary to restore price stability,” the meeting summary stated.
“To this end, participants agreed that the Committee should expeditiously move the stance of monetary policy toward a neutral posture, through both increases in the target range for the federal funds rate and reductions in the size of the Federal Reserve’s balance sheet,” it continued.

Lynwood Public Financing Authority - Page 37 of 60 Agenda Item # 3 Source:CNBC

On the balance sheet issue, the plan will be to allow a capped level of proceeds to roll off each month, a number that will reach $95 billion by August, including $60 billion treasuries and $35 billion for mortgages. The minutes further indicate that an outright sale of mortgage-backed securities is possible, with notice of that happening well in advance.

The minutes mentioned inflation 60 times, with members expressing concern about rising prices even amid confidence that Fed policy and the easing of several contributing factors, such as supply chain problems, combined with tighter monetary policy would help the situation. On the other hand, officials noted that the war in Ukraine and the Covid associated lockdowns in China would exacerbate inflation.

At his post-meeting news conference, Fed Chairman Jerome Powell took the unusual step of addressing the American public directly to stress the central bank’s commitment to taming inflation. Last week, Powell said in a Wall Street Journal interview that it would take “clear and convincing evidence” that inflation was coming down to the Fed’s 2% target before the rate increases would stop.

Along with their resolve to bring down inflation came concerns about financial stability.

Officials expressed concern that tighter policy could cause instability in both the Treasury and commodities market. Specifically, the minutes cautioned about “the trading and risk-management practices of some key participants in commodities markets [that] were not fully visible to regulatory authorities.” Risk management issues “could give rise to significant liquidity demands for large banks, broker-dealers, and their clients.”
Still, officials remained committed to raising rates and reducing the balance sheet. The minutes stated that doing so would leave the Fed “well positioned later this year” to reevaluate the effect policy was having on inflation.

Lynwood Public Financing Authority - Page 38 of 60 Agenda Item # 3 Monthly Economic and Market Update
May 2022
Lynwood Public Financing Authority - Page 39 of 60 Agenda Item # 3 Economic and Market Update
*Estimates for the current quarter/month, some data are lagged Sources: FHN Main Street and Bloomberg Case-Shiller Home Prices YOY* 21.2% 20.3% 0.9%
Consumer Confidence 106.4 108.6 (2.2)
Gold (per ounce) $1,837.35 $1,896.93 ($59.58)
Dollar Index 101.75 102.96 (1.21)
U.S. Avg Regular Unleaded $4.67 $4.19 $0.48
Retail Sales YOY* 9.3% 8.2% 1.1%
S&P 500 4,132 4,132 0.0%
Consumer Price Index YOY* 8.2% 8.3% (0.1%)
1-5 Yr A-AAA Corporate Spread 0.64% 0.68% (0.04%)
Dow Jones 32,990 32,977 0.0%
30 Year Mortgage Rate 5.35% 5.42% (0.07%)
1-5 Yr Agency Spread 0.03% 0.04% (0.01%)
10 Year T-Note 2.85% 2.94% (0.09%)
U.S. Fed Debt Avg Yield* 1.55% 1.53% 0.02%
3 Year T-Note 2.73% 2.89% (0.16%)
5 Year T-Note 2.82% 2.96% (0.14%)
2 Year T-Note 2.56% 2.72% (0.16%)
3 Month T-Bill 1.06% 0.83% 0.22%
Labor Force Participation 62.3% 62.2% 0.1%
Effective Fed Funds Rate 0.83% 0.33% 0.50%
U.S. Payrolls Monthly Change 390,000 436,000 (46,000)
Unemployment Rate 3.6% 3.6% 0.0%
5/31/2022
Item 5/31/2022 4/30/2022 Change
2 Lynwood Public Financing Authority - Page 40 of 60 Agenda Item # 3 Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
Estimate: Bloomberg's Survey of Economists
As of: 5/31/2022
5/31/2022

3.2 2.9
-1.4

5.2 4.7

1.8 3.3

2.3 1.3

0.6 2.4

1.2 2.4

2.0 1.9

2.3 2.9

3.8 3.1

3.4 1.9

0.9 2.4

3.2 2.8

1.9 -5.1
-31.2

33.8 4.5

6.3 6.7

2.3 6.9
-1.5

3.0 2.7

2.1 1.9
-45
-35
-25
-15
-5
5 15
25 35
45 Q3 2013
Q4 2013
Q1 2014
Q2 2014
Q3 2014
Q4 2014
Q1 2015
Q2 2015
Q3 2015
Q4 2015
Q1 2016
Q2 2016
Q3 2016
Q4 2016
Q1 2017
Q2 2017
Q3 2017
Q4 2017
Q1 2018
Q2 2018
Q3 2018
Q4 2018
Q1 2019
Q2 2019
Q3 2019
Q4 2019
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Q1 2023
Percent
U.S. GDP (Quarter over Quarter Annualized)*
Estimates
3 Lynwood Public Financing Authority - Page 41 of 60 Agenda Item # 3 Economic and Market Update
Source: Bureau of Labor Statistics
12 Month Average Job Change 545,083
5/31/2022
-22
-20
-18
-16
-14
-12
-10
-8
-6
-4
-2
0 2
4 6
Nov-17
Feb-18
May-18
Aug-18
Nov-18
Feb-19
May-19
Aug-19
Nov-19
Feb-20
May-20
Aug-20
Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
May-22
Millions
U.S. Monthly Non-Farm Payrolls Change
-25.0
-20.0
-15.0
-10.0
-5.0

0.0 5.0

10.0 15.0

20.0 Nov-17
Feb-18
May-18
Aug-18
Nov-18
Feb-19
May-19
Aug-19
Nov-19
Feb-20
May-20
Aug-20
Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
May-22
Millions
U.S. Monthly Non-Farm Payrolls YOY Change
4 Lynwood Public Financing Authority - Page 42 of 60 Agenda Item # 3 Economic and Market Update
Source: Bureau of Labor Statistics
5/31/2022
0 5
10 15
20 25
30 Nov-17
Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19
Mar-19
May-19
Jul-19
Sep-19
Nov-19
Jan-20
Mar-20
May-20
Jul-20
Sep-20
Nov-20
Jan-21
Mar-21
May-21
Jul-21
Sep-21
Nov-21
Jan-22
Mar-22
May-22
Percent
Unemployment Rates
U.S.A Nevada California Idaho Washington Hawaii Oregon Utah 5 Lynwood Public Financing Authority - Page 43 of 60 Agenda Item # 3 Economic and Market Update
Source: Bureau of Labor Statistics
5/31/2022
128
130
132
134
136
138
140
142
144
146
148
150
152
154
May-12
Dec-12
Jul-13
Feb-14
Sep-14
Apr-15
Nov-15
Jun-16
Jan-17
Aug-17
Mar-18
Oct-18
May-19
Dec-19
Jul-20
Feb-21
Sep-21
Apr-22
Millions
U.S. Number of Employed
Full-Time and Part-TIme

60.0 60.5

61.0 61.5

62.0 62.5

63.0 63.5

64.0 May-12
Dec-12
Jul-13
Feb-14
Sep-14
Apr-15
Nov-15
Jun-16
Jan-17
Aug-17
Mar-18
Oct-18
May-19
Dec-19
Jul-20
Feb-21
Sep-21
Apr-22
Percent
U.S. Labor Force Participation Rate
6 Lynwood Public Financing Authority - Page 44 of 60 Agenda Item # 3 Economic and Market Update
Source: Department of Labor and Bloomberg
5/31/2022
Weekly Initial Jobless Claims is the actual number of people who have filed for Unemployment benefits for the first time. The following five eligibility criteria must be met in order to file for unemployment benefits: 1. Meet the requirements of time worked during a 1 year period (full time or not). 2. Become unemployed through no fault of your own (cannot be fired). 3. Must be able to work; no physical or mental holdbacks. 4. Must be available for work. 5. Must be actively seeking work.

0.0 0.5

1.0 1.5

2.0 2.5

3.0 3.5

4.0 4.5

5.0 5.5

6.0 1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Millions
Weekly Initial Jobless Claims
(4 Week Moving Average)
7 Lynwood Public Financing Authority - Page 45 of 60 Agenda Item # 3 Economic and Market Update
*Real: Inflation Adjusted
Source: U.S. Census Bureau Source: Conference Board
5/31/2022
-30
-20
-10
0 10
20 30
40 50
60 Nov-17
Feb-18
May-18
Aug-18
Nov-18
Feb-19
May-19
Aug-19
Nov-19
Feb-20
May-20
Aug-20
Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
Percent
U.S. Real* Retail Sales YOY % Change
40 50
60 70
80 90
100
110
120
130
140
Nov-11
May-12
Nov-12
May-13
Nov-13
May-14
Nov-14
May-15
Nov-15
May-16
Nov-16
May-17
Nov-17
May-18
Nov-18
May-19
Nov-19
May-20
Nov-20
May-21
Nov-21
May-22
Index Value
U.S. Consumer Confidence
8 Lynwood Public Financing Authority - Page 46 of 60 Agenda Item # 3 Economic and Market Update
CPIX: Consumer Price Index, excluding food and energy PCEC: Personal Consumption Expenditure Core Source: Bureau of Labor Statistics and Bureau of Economic Analysis 5/31/2022

0.0 1.0

2.0 3.0

4.0 5.0

6.0 7.0

8.0 9.0
Nov-17
Feb-18
May-18
Aug-18
Nov-18
Feb-19
May-19
Aug-19
Nov-19
Feb-20
May-20
Aug-20
Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
Percent
CPI and CPIX YOY % Change
CPI
CPIX

0.0 1.0

2.0 3.0

4.0 5.0

6.0 7.0
Nov-17
Feb-18
May-18
Aug-18
Nov-18
Feb-19
May-19
Aug-19
Nov-19
Feb-20
May-20
Aug-20
Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
Percent
PCE and PCEC YOY % Change
PCE
PCEC
9 Lynwood Public Financing Authority - Page 47 of 60 Agenda Item # 3 Economic and Market Update
Sources: New (U.S. Census Bureau),Existing (National Assoc. of Realtors) Source: Case-Shiller Seasonally Adjusted Annual Rate
5/31/2022
0 2
4 6
8 10
12 14
16 18
20 22
24 Dec-13
May-14
Oct-14
Mar-15
Aug-15
Jan-16
Jun-16
Nov-16
Apr-17
Sep-17
Feb-18
Jul-18
Dec-18
May-19
Oct-19
Mar-20
Aug-20
Jan-21
Jun-21
Nov-21
YOY Percent
Case-Shiller 20 City U.S. Home Price Index
YOY % Increase
200
300
400
500
600
700
800
900
1,000
1,100

3.0 3.5

4.0 4.5

5.0 5.5

6.0 6.5

7.0 Nov-13
May-14
Nov-14
May-15
Nov-15
May-16
Nov-16
May-17
Nov-17
May-18
Nov-18
May-19
Nov-19
May-20
Nov-20
May-21
Nov-21
New-Thousands
Existing-Millions
U.S. New and Existing Home Sales
Existing-Left
New-Right
10 Lynwood Public Financing Authority - Page 48 of 60 Agenda Item # 3 Economic and Market Update
Source: U.S. Treasury
5/31/2022
$12
$13
$14
$15
$16
$17
$18
$19
$20
$21
$22
$23
$24
$25
$26
$27
$28
$29
$30
$31
$32
May-12
Nov-12
May-13
Nov-13
May-14
Nov-14
May-15
Nov-15
May-16
Nov-16
May-17
Nov-17
May-18
Nov-18
May-19
Nov-19
May-20
Nov-20
May-21
Nov-21
Trillions
U.S. Federal Debt Outstanding

1.3 1.5

1.7 1.9

2.1 2.3

2.5 2.7
May-12
Nov-12
May-13
Nov-13
May-14
Nov-14
May-15
Nov-15
May-16
Nov-16
May-17
Nov-17
May-18
Nov-18
May-19
Nov-19
May-20
Nov-20
May-21
Nov-21
Percent
U.S. Treasury Interest Bearing Debt Avg Rate
11 Lynwood Public Financing Authority - Page 49 of 60 Agenda Item # 3 Economic and Market Update
Fed Funds Anticipated Rate from the March 17, 2022 FOMC Meeting Source: Bloomberg
5/31/2022

0.00 0.50

1.00 1.50

2.00 2.50

3.00 3.50
Jun-2022
Jul-2022
Aug-2022
Sep-2022
Oct-2022
Nov-2022
Dec-2022
Jan-2023
Feb-2023
Mar-2023
Apr-2023
May-2023
Jun-2023
Jul-2023
Aug-2023
Sep-2023
Oct-2023
Nov-2023
Dec-2023
Jan-2024
Feb-2024
Mar-2024
Apr-2024
May-2024
Jun-2024
Jul-2024
Aug-2024
Sep-2024
Oct-2024
Nov-2024
Dec-2024
Jan-2025
Feb-2025
Mar-2025
Apr-2025
May-2025
Percent
Fed Funds FuturesFed's Anticipated Rates
Fed Funds Futures
12 Lynwood Public Financing Authority - Page 50 of 60 Agenda Item # 3 Economic and Market Update
Source: Bloomberg
Figures may not total due to rounding
5/31/2022
3Y 2.73 2.89 -0.16
30Y 3.05 3.00 0.05
5Y 2.82 2.96 -0.14
10Y

1.06 2.85 2.94 -0.09
Change4/29/225/31/22
3M
Maturity
-0.162.722.562Y
-0.002.072.071Y

0.161.411.576M

0.220.83

0.0 0.5

1.0 1.5

2.0 2.5

3.0 3.5
3M 6M 1Y 2Y 3Yr 5Y 10Y 30Y
Percent
U.S. Treasury Yield Curve Change
5/31/22
4/29/22
-20
-15
-10
-5
0 5
10 15
20 25
3M
6M
1Y
2Y
3Yr
5Y
10Y
30Y
Basis Points
Basis Point Change
13 Lynwood Public Financing Authority - Page 51 of 60 Agenda Item # 3 Economic and Market Update
Source: Bloomberg
5/31/2022

0.00 0.25

0.50 0.75

1.00 1.25

1.50 1.75

2.00 2.25

2.50 2.75
May-17
Aug-17
Nov-17
Feb-18
May-18
Aug-18
Nov-18
Feb-19
May-19
Aug-19
Nov-19
Feb-20
May-20
Aug-20
Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
May-22
Percent
U.S. Treasury Yields: 3M and 1Y
1Y
3M

0.00 0.25

0.50 0.75

1.00 1.25

1.50 1.75

2.00 2.25

2.50 2.75

3.00 3.25
May-17
Aug-17
Nov-17
Feb-18
May-18
Aug-18
Nov-18
Feb-19
May-19
Aug-19
Nov-19
Feb-20
May-20
Aug-20
Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
May-22
Percent
U.S. Treasury Yields: 2Y and 5Y
5Y
2Y
14 Lynwood Public Financing Authority - Page 52 of 60 Agenda Item # 3 Economic and Market Update
Source: Bloomberg
5/31/2022
0 1
2 3
4 5
6 7
8 9
10 11
12 13
14 15
16 17
18 19
20 21
Jan-54
Jan-56
Jan-58
Jan-60
Jan-62
Jan-64
Jan-66
Jan-68
Jan-70
Jan-72
Jan-74
Jan-76
Jan-78
Jan-80
Jan-82
Jan-84
Jan-86
Jan-88
Jan-90
Jan-92
Jan-94
Jan-96
Jan-98
Jan-00
Jan-02
Jan-04
Jan-06
Jan-08
Jan-10
Jan-12
Jan-14
Jan-16
Jan-18
Jan-20
Jan-22
Percent
U.S. Treasury Yields 2Yr and 5Yr - Fed Funds Target Rate 5Yr
2Yr
Fed Funds
15 Lynwood Public Financing Authority - Page 53 of 60 Agenda Item # 3 Economic and Market Update
Source: Bloomberg
5/31/2022
Global Treasury Rates
2 Year Yields 5 Year Yields 10 Year Yields
-0.08%

0.02%

0.34%

0.49%

0.60%

0.72%

0.99%

1.57%

2.47%

2.56%

2.66%
-4.0% -2.0% 0.0% 2.0% 4.0%
Japan
Switzlnd
France
Germany
Portugal
Spain
Italy
England
Australia
USA
Canada

0.00%

0.40%

0.83%

1.06%

1.49%

1.53%

1.68%

2.26%

2.74%

2.82%

3.07%

0.0% 2.0% 4.0%
Japan
Switzlnd
Germany
France
Portugal
Spain
England
Italy
Canada
USA
Australia

0.24%

0.86%

1.12%

1.64%

2.10%

2.22%

2.25%

2.84%

2.89%

3.12%

3.35%

0.0% 1.0% 2.0% 3.0% 4.0%
Japan
Switzlnd
Germany
France
England
Spain
Portugal
USA
Canada
Italy
Australia
16 Lynwood Public Financing Authority - Page 54 of 60 Agenda Item # 3 Economic and Market Update
ICE BofAML Index (option adjusted spread vs. Treasury) ICE BofAML Index (option adjusted spread vs. Treasury) 1-5Yr Non-Callable Agency (GVPB) Corporate A-AAA Excluding Yankee (CVAC) Source: ICE BofAML Indices
5/31/2022
Current Spread is 3 Current Spread is 64
-20
0 20
40 60
80 100
120
140
160
180
200
Apr-08
Apr-09
Apr-10
Apr-11
Apr-12
Apr-13
Apr-14
Apr-15
Apr-16
Apr-17
Apr-18
Apr-19
Apr-20
Apr-21
Apr-22
Basis Points
Spread: 1-5Yr Agency vs Treasury
0 50
100
150
200
250
300
350
400
450
500
550
600
650
Apr-08
Apr-09
Apr-10
Apr-11
Apr-12
Apr-13
Apr-14
Apr-15
Apr-16
Apr-17
Apr-18
Apr-19
Apr-20
Apr-21
Apr-22
Basis Points
Spread: 1-5Yr A-AAA Corporate vs Treasury
17 Lynwood Public Financing Authority - Page 55 of 60 Agenda Item # 3 Economic and Market Update
*ICE BofAML Index (option adjusted spread vs. Treasury) *ICE BofAML Index (option adjusted spread vs. Treasury) AAA Rated ABS (R0A1) CMO Agency 0-3Yr PAC (CM1P)
Source: ICE BofAML Indices
5/31/2022
Current Spread is 101 Current Spread is 43
0 50
100
150
200
250
300
350
400
450
500
550
600
650
700
750
800
Apr-08
Apr-09
Apr-10
Apr-11
Apr-12
Apr-13
Apr-14
Apr-15
Apr-16
Apr-17
Apr-18
Apr-19
Apr-20
Apr-21
Apr-22
Basis Points
Spread: AAA Asset Backed vs Treasury
-150
-100
-50
0 50
100
150
200
250
300
Apr-08
Apr-09
Apr-10
Apr-11
Apr-12
Apr-13
Apr-14
Apr-15
Apr-16
Apr-17
Apr-18
Apr-19
Apr-20
Apr-21
Apr-22
Basis Points
Spread: 0-3Yr Agency CMO vs Treasury
18 Lynwood Public Financing Authority - Page 56 of 60 Agenda Item # 3 Economic and Market Update
Source: Bloomberg
5/31/2022
-4.7
-3.2
-2.3
-1.6 -1.3 -1.0
-0.2

0.1 0.2 0.4 0.5 0.5 0.6 0.6 0.8 0.8 0.9

1.5 1.9 2.0 2.2

10.8 (6)
(4)
(2)
0 2
4 6
8 10
12 Percent
Selected Sector Monthly Total Returns
19 Lynwood Public Financing Authority - Page 57 of 60 Agenda Item # 3 Economic and Market Update
Source: Bloomberg
5/31/2022
-22.4
-16.7 -16.1 -14.4 -10.5 -8.9 -8.8 -8.1 -7.2 -6.6 -5.4 -5.0 -3.8 -3.1 -2.8 -1.5 -0.4 -0.2

2.0 12.3

47.4 88.2
(40)
(20)
0 20
40 60
80 100
Percent
Selected Sector Year-Over-Year Total Returns
20 Lynwood Public Financing Authority - Page 58 of 60 Agenda Item # 3 Economic and Market Update
Source: Bloomberg, FHN Main Street
5/31/2022

2.50 2.60

2.70 2.80

2.90 3.00

3.10 3.20
4/30/22
5/1/22
5/2/22
5/3/22
5/4/22
5/5/22
5/6/22
5/7/22
5/8/22
5/9/22
5/10/22
5/11/22
5/12/22
5/13/22
5/14/22
5/15/22
5/16/22
5/17/22
5/18/22
5/19/22
5/20/22
5/21/22
5/22/22
5/23/22
5/24/22
5/25/22
5/26/22
5/27/22
5/28/22
5/29/22
5/30/22
5/31/22
Percent
5 Year Treasury Note Yield
Strong April Jobs
Report
Fed Chair Powell Says
Fed "Won't Hesitate" to
Tighten Policy
Flight to Quality,
as Stocks Drop
Fed Hikes Rates 0.5%; The
Biggest Rate Hike In 20
Years
Investors Seek Safe-
Haven of Treasuries as
Stocks Continue to
Decline
New Home Sales Drop

16.6% Month-Over-
Month
Consumer and
Producer Price Indices
Show Higher Than
Expected Inflation
Hawkish Comments
From Fed President
Waller Push Yields
Higher
21 Lynwood Public Financing Authority - Page 59 of 60 Agenda Item # 3 Economic and Market Update
NI USS
Source: Bloomberg, FHN Main Street
5/31/2022
29,500
30,000
30,500
31,000
31,500
32,000
32,500
33,000
33,500
34,000
34,500
4/30/22
5/1/22
5/2/22
5/3/22
5/4/22
5/5/22
5/6/22
5/7/22
5/8/22
5/9/22
5/10/22
5/11/22
5/12/22
5/13/22
5/14/22
5/15/22
5/16/22
5/17/22
5/18/22
5/19/22
5/20/22
5/21/22
5/22/22
5/23/22
5/24/22
5/25/22
5/26/22
5/27/22
5/28/22
5/29/22
5/30/22
5/31/22
Dow Jones Industrial Average
Worries Deepen, as
75bps Hike Is Still On
The Table Target Trims Profit
Forecasts, Causing Worst
Drop Since 1987
Retailers Report Strong
Earnings
Nasdaq Slides
5%
Strong Retail
Sales
Fed Chair Powell
Tames Rate Hike
Concerns
President Biden
Signals He'll
Reconsider China
Tariffs
Stocks Experience Best Weekly
Rally Since Nov 2022, as
Investors Become Optimistic
22 Lynwood Public Financing Authority - Page 60 of 60 Agenda Item # 3 This Agenda contains a brief general description of each item to be considered. Copies of the Staff reports or other written documentation relating to each item of business referred to on the Agenda are on file in the Office of the City Clerk and are available for public inspection. Any person who has a question concerning any of the agenda items may call the City Manager at (310) 603-0220, ext. 200.

Procedures for Addressing the Council

IN ORDER TO EXPEDITE CITY COUNCIL BUSINESS, WE ASK THAT ALL PERSONS WISHING TO ADDRESS THE

COUNCIL SUBMIT YOUR COMMENTS IN ADVANCE TO
[email protected]

OR FILL OUT A FORM

AGENDA
City of Lynwood as Successor Agency
to the Lynwood Redevelopment Agency

TO BE HELD ON

June 21, 2022

COUNCIL CHAMBERS - 11350 BULLIS RD. LYNWOOD, CA 90262 or Web conference via ZOOM - To participate via Zoom or by telephone: 1-669-900-9128 or 1-253-215-8782 Meeting ID: 835 2029 8238
6:00 PM

1. CALL TO ORDER

2. CERTIFICATION OF AGENDA POSTING BY SECRETARY

3. ROLL CALL OF MEMBERS
Jorge Casanova, Mayor
Jose Luis Solache
, Mayor Pro Tem
Oscar Flores, Council Member
Marisela Santana, Council Member
Rita Soto, Council Member

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

THIS PORTION PROVIDES AN OPPORTUNITY FOR THE PUBLIC TO ADDRESS THE LYNWOOD SUCCESSOR

AGENCY ON ITEMS WITHIN THE JURISDICTION OF THE LYNWOOD SUCCESSOR AGENCY AND NOT LISTED ON THE AGENDA. IF AN ITEM IS NOT ON THE AGENDA, THERE SHOULD BE NO SUBSTANTIAL DISCUSSION

OF THE ISSUE BY LYNWOOD SUCCESSOR AGENCY, BUT LYNWOOD SUCCESSOR AGENCY MAY REFER THE MATTER TO STAFF OR SCHEDULE SUBSTANTIVE DISCUSSION FOR A FUTURE MEETING. (The Ralph M.

Lynwood Successor Agency - Page 1 of 93
Brown Act, Government Code Section 54954.2 (a).)

PUBLIC HEARING

4. ADOPTION OF THE UPDATED SECOND YEAR (OR FISCAL YEAR 2022-23) BUDGET OF THE APPROVED BIENNIAL FISCAL YEAR 2021-22 AND 2022-23 BUDGET
Comments:

The City’s budget is an important policy document. It serves as an annual financial plan, identifying the spending priorities for the organization. The budget is used to balance available resources with community needs, as determined by the City Council. It also serves as a tool for communicating the City’s financial strategies and for ensuring accountability.

The City switched from annual to biennial budget preparation in fiscal year 2019-20 to better forecast the City’s financial conditions. This budget that staff is presenting is the updated second year of the approved biennial Fiscal Year 2021-22 and 2022-23 budget. This budget shows the updated operating and capital budgets for the fiscal year begins on July 1, 2022 and ends on June 30, 2023 for Council’s consideration.

Staff has taken Council approved budget numbers for Fiscal Year 2022-23, made modifications, and incorporated them into the full Updated FY 2022-23 Budget (City, Successor Agency, Lynwood Utility Authority, Appropriations Limit, and Master Fee Schedule), for formal adoption. (FIN)

Recommendation:

Staff recommends that the City Council and Successor Agency open a public hearing, receive a presentation on the updated second year (or Fiscal Year 2022-23) of the approved biennial Fiscal Year 2021-22 and 2022-23 budget, receive public comments, close the public hearing, and each adopt the respective attached resolutions entitled:

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD ADOPTING THE UPDATED APPROVED BUDGET OF FISCAL YEAR 2022-23

A RESOLUTION OF THE CITY COUNCIL AS SUCCESSOR AGENCY TO THE

LYNWOOD REDEVELOPMENT AGENCY ADOPTING THE UPDATED APPROVED BUDGET OF SUCCESSOR AGENCY OF FISCAL YEAR 2022-23

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD ADOPTING THE

UPDATED
APPROVED MASTER FEE SCHDULE OF FISCAL YEAR 2022-23

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD ESTABLISHING THE APPROPRIATION LIMIT FOR FISCAL YEAR 2022-23 PURSUANT TO ARTICLE

XIIIB OF THE CALIFORNIA CONSTITUTION

CONSENT CALENDAR

ALL MATTERS LISTED UNDER THE CONSENT CALENDAR WILL BE ACTED UPON BY ONE MOTION AFFIRMING THE ACTION RECOMMENDED ON THE AGENDA. THERE WILL BE NO SEPARATE DISCUSSION ON

THESE ITEMS PRIOR TO VOTING UNLESS MEMBERS OF THE COUNCIL OR STAFF REQUEST SPECIFIC ITEMS TO BE REMOVED FROM THE CONSENT CALENDAR FOR SEPARATE ACTION.

5. PREVIOUS MEETING MINUTES
Comments:

Approving previous meeting minutes for Lynwood Successor Agency: (CC)

January 4, 2022
January 18, 2022
Lynwood Successor Agency - Page 2 of 93
February 1, 2022
February 15, 2022
March 1, 2022
March 15, 2022
April 19, 2022
May 17, 2022

Recommendation:

Staff recommends that the Lynwood Successor Agency approve the following minutes:

January 4, 2022
January 18, 2022
February 1, 2022
February 15, 2022
March 1, 2022
March 15, 2022
April 19, 2022
May 17, 2022

6. TREASURER'S MONTHLY INVESTMENT REPORT
Comments:

The purpose of this item is to have the Honorable Mayor and the Lynwood City Council, as Successor to Lynwood Redevelopment Board review the Treasurer’s Monthly Investment Report as required by State Statutes. (CT)

Recommendation:

It is recommended that the City Council for the City of Lynwood receive and file the attached Monthly Investment Report.

ADJOURNMENT

CITY OF LYNWOOD AS SUCCESSOR AGENCY TO THE LYNWOOD REDEVELOPMENT AGENCY MEETINGS WILL BE POSTED AS NEEDED. THE NEXT MEETING WILL BE HELD IN THE COUNCIL CHAMBERS OF CITY HALL ANNEX, 11350 BULLIS ROAD, CITY OF LYNWOOD, CALIFORNIA.

Lynwood Successor Agency - Page 3 of 93
Agenda Item # 4.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Harry Wong, Director of Finance & Administration

SUBJECT:

ADOPTION OF THE UPDATED SECOND YEAR (OR FISCAL YEAR 2022-23) BUDGET OF THE APPROVED BIENNIAL FISCAL YEAR 2021-22 AND 2022-23 BUDGET
Recommendation:

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD ADOPTING THE UPDATED APPROVED BUDGET OF FISCAL YEAR 2022-23

A RESOLUTION OF THE CITY COUNCIL AS SUCCESSOR AGENCY TO THE LYNWOOD

REDEVELOPMENT AGENCY ADOPTING THE UPDATED APPROVED BUDGET OF SUCCESSOR AGENCY OF FISCAL YEAR 2022-23

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD ADOPTING THE

UPDATED
APPROVED MASTER FEE SCHDULE OF FISCAL YEAR 2022-23

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD ESTABLISHING THE APPROPRIATION LIMIT FOR FISCAL YEAR 2022-23 PURSUANT TO ARTICLE XIIIB OF THE

CALIFORNIA CONSTITUTION

Background:

Lynwood Successor Agency - Page 4 of 93
The City switched from annual to biennial budget preparation in fiscal year 2019-20 to better forecast the City’s financial conditions. This budget that staff is presenting is the updated second year of the approved biennial Fiscal Year 2021-22 and 2022-23 budget. This budget shows the updated operating and capital budgets for the fiscal year begins on July 1, 2022 and ends on June 30, 2023 for Council’s consideration.

Budget Development

Per the Lynwood Municipal Code, the City Manager is responsible for the development of a proposed/updated budget for consideration by the City Council. The budget development process begins with a mid-year update of the current year budget and the General Fund revenue forecast, which establishes a general framework to develop budget guidelines for the upcoming fiscal year.

The primary goals in developing the operating budget have been to ensure public safety, improve the City’s deteriorating infrastructure, and maintain core services to residents and businesses while ensuring fiscal conservancy. The City’s budget was developed utilizing Zero-Based Budgeting (ZBB). ZBB is an approach to budgeting in which each budgeted year’s activities are evaluated in a self-contained fashion, with little or no weight given to the precedents of past years. ZBB is contrasted to incremental budgeting, in which the budget justification is focused on the difference between the current year and the proposed budget year.

In addition to using a ZBB approach to budgeting, the following fiscal policies have been developed by the City Manager to provide each department a consistent and strategic approach in preparing the City’s Proposed Biennial Operating Budget (and updating the second year of the City’s Approved Biennial Operating Budget).

Minimize use “one-time money” for ongoing operations.

Budget decisions will be made as a whole in context, with no special requests considered in isolation.

The perception of funding actions, as well as the fiscal impact, will be considered before expenditures are made.

Make strategic use of volunteers, partnerships and collaborations, including with other public agencies, to meet community needs and/or provide services.

The Biennial Operating Budget shall be prepared such that current revenues plus net operating transfers will be sufficient to support current expenditures.

Review options for consolidation of functions that reduce operational costs and improve efficiency.

To the extent possible, expenditures from all operating funds shall not exceed the budgeted appropriations (as amended) for these funds.

When capital projects are considered, all associated costs should be identified in order to properly assess future financial impacts.

Any necessary reduction in permanent positions will be accomplished first through attrition and retirements, with layoffs used only as a last resort.

Each enterprise fund should reflect the true cost of operation, including direct and indirect costs of services provided by the General Fund.

The use of reserves does not provide a viable solution to the revenue/expenditure gap.

Once adopted, the biennial budget should be amended only when urgency requires, and then by identifying specific funding sources for these new priorities.

These policies are intended to serve as guidelines for measuring financial performance, justifying programs and services and setting future budgetary goals.

Departmental budgets are submitted to the City Manager for review for the proposed fiscal year budget(s). A draft preliminary budget is prepared. Once the draft preliminary budget is prepared it is presented to the City Council to solicit input and obtain further direction before the budget is finalized for adoption.

Key Changes from the Approved Fiscal Year 2022-23 Budget

The following key changes have been incorporated into the approved FY 2022-23 Budget:

Lynwood Successor Agency - Page 5 of 93

Updated revenue and expenditure projections for Fiscal Year 2021-22 ·

Updated revenue estimates and expenditure budgets for Fiscal Year 2022-23 ·

Increased FY 2022-23 fuel costs budget by $147,000 due to rise in gasoline costs ·

Increased FY 2022-23 insurance premium budget by $190,000 per ICRMA billings
·

Increased FY 2022-23 animal sheltering budget by $129,000 per SPCALA notification Discussion and Analysis:

GENERAL FUND

The General Fund is the primary revenue source and operating fund for most of the services, such as public safety, street and park maintenance, and community services, the City provides to the community.

The FY 2022-23 Updated Budgets were developed in the context of the City gradually recovering from the impact of the Covid-19 pandemic. However, the post Covid-19 economy is still fragile due to the ongoing global supply chain disruption and the Russo-Ukrainian War. The City is now facing a historical high inflation risk. In addition, economists and financial analysts have opposing views on whether the Federal Reserve drastic discount rate hikes will effectively counter inflation or turn the economy into a new recession. The City’s budget is developed with careful consideration of the macro economy factors and the City’s financial condition. For FY 2022-23, the updated revenue estimate for property, sales, and use taxes is comprised of 65.9%, or $27.8 million of the totals $42.1 million in resources provided to the General Fund. Utility user’s tax, licenses, permits, franchise fees, fines, interest, rent and other miscellaneous sources represent 28.8% of revenues ($12.2 million). Interfund transfers from other funds make up another 5.3%, or $2.2 million of the total.

CITY MANAGER FY 2022-23 GENERAL FUND

UPDATED BUDGET

FY 2022-23 Updated
Revenue
$42,139,935

Expenditures
$41,350,674

Projected Surplus
$789,261

Beginning Balance
$3,898,348

Ending Balance
$4,687,609

Fund Balance Needed to Meet
Reserve Policy
$4,135,067

The FY 2022-23 updated budget includes $41.4 million in expenditures.

Personnel costs, which include salaries
and benefits, represent $8.6 million of the total expenditures. Operational costs, which include materials, services and supplies, account for $32.8 million of the budget. Transfers to other funds costs total $2.6 million.

The updated
expenditure budget has increased by 4.5% or $1.6 million over FY 2021-22 revised budget.

Most of the increases can be attributed to increases in safety contracts, employee retirement and medical costs, insurances, and general liability.

In keeping with the Council’s highest priorities, Public Safety (e.g., police and fire) represents 54.33% or $21.1 million of the General Fund budget for FY 2022-23.

Some of the key highlights of the 2022-23 updated operating budget include:

Lynwood Successor Agency - Page 6 of 93
•

Sustained level of service for Public Safety
•

Continuous operation of City Hall services with no reductions in hours •

Additional resources for departments:
•

Recruitment for permanent placement of vacant positions of Director of Community Development and Director of Public Works
•

Update the Budget
Policy

Key Budget
Assumptions

In preparing the FY 2022-23 budget update, the following key assumptions were used:
•

Tax revenues are tracking higher than last fiscal year. For fiscal year 2022-23, sales and use tax revenues are projected to increase by 4% from FY 2021-22.

•

The updated FY 2022-23 budget assumes Cannabis Tax revenue in the amount of $1 million.

CAPITAL IMPROVEMENT PROJECT (CIP) BUDGET

The CIP program for FY 2022-23 is $51.6 million. Approximately 99.9% of the CIP for FY 2022-23 is funded by non-general fund revenues.

For FY 2022-23, improvements to Water and Sewer facilities total $14.7 million and street/alley/sidewalk/traffic improvements total $11.8 million. Parks and Recreation facilities improvements are at $15.0 million. Included in the Parks and Recreation improvements are the Lynwood Urban Bike Trail and the Fernwood Avenue Park. Both projects are anticipated to be completed in FY 2022-23. Rounding up the CIPs are the Facilities, Stormwater and other improvement at $9.9 million.

OTHER FUNDS - DEFICITS

For FY 2022-23, staff projects major operating deficits in the Landscape Maintenance Assessment District Fund, Garage Fund, Retirement Fund and various grant funds, e.g., American Rescue Plan Act (ARPA) Fund, CDBG Fund, etc.

The operating deficit in the Landscape Maintenance Assessment District Fund for FY 2022-23 is due to the fact that updated budget of expenditures exceed revenues. The assessment rates have not been adjusted for more than 30 years. The rates have not kept up with current costs or CPI. Therefore, operational expenses outpace tax assessment revenues.

The Garage Fund does not have built-in budget for vehicle replacement and maintenance, which is supported by transfers from the General Fund. In the past, the City would rent city equipment to offset expenditures. The City is no longer doing this.

The pension tax City collects has fell short of covering the increasing cost of Calpers’ required annual pension Unfunded Accrued Liability (UAL) payment. In order to control the growing high cost of UAL liability, the City has started exploring options to refinance the UAL with lower interest bonds.

The grant fund deficits are only temporary timing differences between budgeted expenditures and revenue estimates. Most of the grants of the City were reimbursement basis. Therefore, for those reimbursable grants, such as the CDBG Fund, we expected budgeted expense to incur in FY 2022-23, but some of the reimbursable revenue estimate to come in in the following year.

The FY 2022-23 updated budget includes a combined $9.0 million for the Landscape Maintenance Assessment District Fund, Garage Fund, and Retirement Fund.

FY 2021-22
Projected
Fund Deficit
FY 2022-23
Updated
Budget
Lynwood Successor Agency - Page 7 of 93
(Unaudited)
Landscape Maintenance
(4,766,194)
(6,486,431)
Garage Fund
(1,116,382)
(2,790,004)
Retirement Fund
455,493
(297,469)
Total
(5,427,083)
(9,573,904)

If no action is taken, the deficits will continue to increase. The General Fund cannot sustain these funds deficit amounts. The General Fund reserve will decline and ultimately become non-existent. While the City has look into bond refunding to remediate the growing UAL liability and the current deficit in the Retirement Fund, the Landscape Maintenance and Garage Fund will need further action to address the ongoing funding source problems.

CONCLUSION
The updated operating budget for FY 2022-23 reflects the ongoing efforts of staff to maintain service levels while achieving long-term fiscal stability. For many programs, comparisons between the updated budget and prior-year budgets will show significant differences due to major modifications that have occurred across the organization in staffing levels, changes in delivery of service models, decreased reliance on consultants and thoughtful consideration to supply consumption.

Undoubtedly, much work lies ahead to achieve long-term fiscal sustainability. Over the course of the coming fiscal years, staff will continue to explore various methods for increasing revenue and providing services in the most cost- effective way possible, as well as examine different opportunities/mechanisms to address the City’s growing deficits in certain funds, such as the Landscape Maintenance, Garage Fund and Retirement Fund that continue to be major impediments to achieving fiscal sustainability.

Fiscal Impact:

It is estimated that the General Fund unassigned fund balance will complete the 2021-22 fiscal year at $3.9 million.

This is an estimated decrease of $2.4 million in revenues over expenditures.

Unused appropriations and/or revenue exceeding expenses, at the end of every year, revert back to fund balance.

Each fund’s fund balance can then be used for one-time expenses (non-operating) or put aside as a reserve for future purposes. It is proposed by staff that Council approve the transfer of unrestricted funds that exceeded expenses in 2021-22 to reserves, which are included in the year-end budget adjustments.

If Council elects to adopt the updated Fiscal Year 2022-23 budget, the updated estimate of General Fund balance at the end of FY 2022-23 would be $4.7 million, $1.1 million higher the previously approved FY 2022-23 budget.

Coordinated With:

City Manager's Office
City Attorney
All Departments
Lynwood Successor Agency - Page 8 of 93
ATTACHMENTS:

Description
Reso_FY 2022-23 Budget Adoption
Reso_FY 2022-23 Successor Agency Budget Adoption
Exhibit C_FY 2023 Successor Agency Budget
Reso_FY 2022-23 Master Fee Schedule
Exhibit A_FY 2023 Master Fee Schedule Update
Reso_FY 2022-23 Appropriation Limit
Exhibit B_FY 2023 Appropriation Limit
Lynwood Successor Agency - Page 9 of 93
1 RESOLUTION NO._____________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD ADOPTING THE UPDATED APPROVED BUDGET OF FISCAL YEAR 2022-23

WHEREAS, the City Council of the City of Lynwood (the “City Council”) reviewed the Fiscal Year (FY) 2022-23 City Manager’s updated budget for the City of Lynwood attached herein and made a part of this resolution through this reference; and

WHEREAS, the agenda f or the June 21, 202 2 meeting of the City Council was duly posted, and the FY 2022-23 City Manager’s updated budget and all related agenda material were made available to the interested parties.

NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY RESOLVE AND DETERMINE AS FOLLOWS:

Section 1. The City of Lynwood Budget for Fiscal Year 2022-23 is hereby adopted, as presented in the updated approved budget for Fiscal Year 2022-23.

Section 2. That the City Manager (at his discretion) or his designee is authorized to carry over incomplete Capital Improvement Projects with remaining account balances and available funding sources from the prior fiscal year, to allow the work in progress relative to these projects to continue in an uninterrupt ed manner contingent upon revenues being available.

Section 3. The City Manager or his designee is authorized to approve any transfer between accounts provided that they are within the same department and the same fund.

Section 4. This resolution shall go into effect immediately upon its adoption.

PASSED, APPROVED AND ADOPTED this 21st day of June, 2022.

_____________________________
Jorge Casanova
Mayor

ATTEST:

______________________________ _____________________________ Maria Quinonez Ernie Hernandez
City Clerk City Manager

Lynwood Successor Agency - Page 10 of 93
2 APPROVED AS TO FORM: APPROVED AS TO CONTENT:

___________________________ _____________________________ Noel Tapia Harry Wong
City Attorney Director of Finance & Administration

Lynwood Successor Agency - Page 11 of 93
3 STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

I, Maria Quinonez, the undersigned, City Clerk of the City of Lynwood, do hereby certify that the foregoing Resolution was passed and adopted by the City Council of the City of Lynwood at a meeting held on the ___st day of _______, 2022.

AYES:

NOES:

ABSENT:

ABSTAIN:

________________________
Maria Quiňonez,
City Clerk

STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

I, Maria Quinonez, the undersigned, City Clerk of the City of Lynwood, and the Clerk of the City Council of said City, do hereby certify that the above foregoing is a full, true and correct copy of Resolution No. 2022.XXX on file in my office and that said Resolution was adopted on the date and by the vote therein stated. Dated this ____st day of _________, 2022.

___________________________
Maria Quiňonez,
City Clerk

Lynwood Successor Agency - Page 12 of 93

RESOLUTION NO. ________

A RESOLUTION OF THE CITY COUNCIL AS SUCCESSOR AGENCY TO THE

LYNWOOD REDEVELOPMENT AGENCY ADOPTING THE UPDATED APPROVED BUDGET OF SUCCESSOR AGENCY OF FISCAL YEAR 2022-23

WHEREAS, the City Council as Successor Agency to the Lynwood Redevelopment Agency reviewed the Fiscal Year (FY) 2022-23 City Manager’s updated budget of the Successor Agency for Fiscal Year 2022-23 attached as Exhibit “C”; and

WHEREAS, the agenda for the June 21, 2022 meeting of the City Council as Successor Agency to the Lynwood Redevelopment Agency was duly posted, and the FY 2022-23 City Manager’s updated budget and all related agenda material were made available to all interested parties.

NOW, THEREFORE, THE CITY COUNCIL AS SUCCESSOR AGENCY TO THE LYNWOOD REDEVELOPMENT AGENCY DOES HEREBY RESOLVE AS FOLLOWS:

Section 1. The Successor Ag ency budget for Fiscal Year 2022-23 is hereby adopted, as presented in the updated approved budget for Fiscal Year 2022-23.

Section 2. This resolution shall go into effect immediately upon its adoption.

PASSED, APPROVED and ADOPTED this 21st day of June, 2022.

___________________________
Jorge Casanova
Mayor

ATTEST:

______________________________ ____________________________ Maria Quinonez Ernie Hernandez
City Clerk City Manager

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

___________________________ __________________________ Noel Tapia Harry Wong
City Attorney Director of Finance & Administration Lynwood Successor Agency - Page 13 of 93

2 STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

AYES:

NOES:

ABSENT:

ABSTAIN:

________________________
Maria Quiňonez,
City Clerk

STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

___________________________
Maria Quiňonez,
City Clerk

Lynwood Successor Agency - Page 14 of 93
FY 2021-22
Adopted
Budget
FY 2022-23
Approved
Budget
FY 2022-23
Updated
Budget
Revenues
Redevelopment Property Tax Trust
Fund (RPTTF) Revenues 8,200,000 $ 8,200,000 $ 5,198,938 $ Administrative Allowance - - - Total: 8,200,000$ 8,200,000 $ 5,198,938 $
Expenditures
Administrative Allowance - $ - $ - $ Project Staffing Costs 279,067 287,144 278,708 ROPS Obligations 8,156,968 8,218,442 5,225,699 Total: 8,436,035$ 8,505,586 $ 5,504,407 $
Use of Reserves/(Surplus) 236,035 $ 305,586 $ 305,469 $ City of Lynwood
Exhibit C
FY 2022-23 Updated Successor Agency Budget
Lynwood Successor Agency - Page 15 of 93
RESOLUTION NO._____________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD ADOPTING THE UPDATED APPROVED MASTER FEE SCHEDULE OF FISCAL YEAR 2022-23

WHEREAS, the City of Lynwood is a general law city under California law with a recognized mandate to preserve, protect and enhance the general health and welfare of its residents; and

WHEREAS, the Government Finance Officer s Association (GFOA) states: “A government should adopt policies that identify the manner in which fees and charges are set and the extent to which they cover the cost of the service provided”; and

WHEREAS, the Master Fee Schedule allows the public and the City staff to obtain a better understanding of all fees, rates, and permits charged by the City of Lynwood; and

WHEREAS, current charges are insufficient to cover all business costs associated with providing certain services; and

WHEREAS, pursuant to Government Code §66016, the specific f ees to be charged for services must be adopted by the City Council by resolution or ordinance, after providing notice and holding a public hearing; and

WHEREAS, amendments for the Master Fee Schedule were presented to City Council on June 21, 2022.

NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD DOES HEREBY FIND, PROCLAIM, ORDER, AND RESOLVE AS FOLLOWS:

Section 1. That the City Council approves and adopts the revisions to the City of Lynwood’s Master Fee Schedule, attached hereto as Exhibit “ A”, and the revisions together with the fees in the Master Fee Schedule that were already previously approved shall form the FY 2022-23 Master Fee Schedule which is hereby adopted.

Section 2. That any existing fee not specifically enumerated in the attached Exhibit “A” shall remain in effect at the current level and shall be subject to the provisions of the legislative action that placed it into effect.

Section 3. Any action adopting or increasing a fee or charge for development projects may not take effect for at least 60 days upon adoption.

Section 4. All other fees that are not related to development projects fees are effective immediately upon approval.

PASSED, APPROVED AND ADOPTED this 21st day of June, 2022.

Lynwood Successor Agency - Page 16 of 93
2 ____________________________
Jorge Casanova
Mayor

ATTEST:

______________________________ _____________________________ Maria Quinonez Ernie Hernandez
City Clerk City Manager

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

______________________________ ______________________________ Noel Tapia Harry Wong
City Attorney Director of Finance & Administration

Lynwood Successor Agency - Page 17 of 93
3 STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

AYES:

NOES:

ABSENT:

ABSTAIN:

________________________
Maria Quiňonez,
City Clerk

STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

___________________________
Maria Quiňonez,
City Clerk

Lynwood Successor Agency - Page 18 of 93
FY 2022-23 Master Fee Schedule Changes Exhibit A
# Category FY 22 Unit FY 23 Proposed Rate Unit Change Type 1 Code Enforcement 12-2.19 Violations - Penalties each 2,000.00 $ each Updatin g fee schedule (1) Gross weight 25 pounds or less, including packing 1,000.00 $ First and subsequent
offenses in the same
year
1,000.00$
First and subsequent
offenses in the same
year
Updating fee schedule
(2) Gross weight 26 to 100 pounds, including packing 5,000.00 $ First and subsequent
offenses in the same
year
5,000.00$
First and subsequent
offenses in the same
year
Updating fee schedule
(3) Gross weight more than 100 pounds, including packing 10,000.00 $ First and subsequent
offenses in the same
year
10,000.00$
First and subsequent
offenses in the same
year
Updating fee schedule
2 Code Enforcement
First Offense 1,000.00 $ each 1,000.00 $ each Updatin g fee schedule Second or Subsequent Offenses in the same year 5,000.00 $ each 5,000.00 $ each Updatin g fee schedule 3 Code Enforcement
First Offense 1,000.00 $ each 1,000.00 $ each Updatin g fee schedule Second or Subsequent Offenses in the same year 5,000.00 $ each 5,000.00 $ each Updatin g fee schedule 4 Code Enforcement
First Offense 1,000.00 $ each 1,000.00 $ each Updatin g fee schedule Second or Subsequent Offenses in the same year 5,000.00 $ each 5,000.00 $ each Updatin g fee schedule 5 Code Enforcement
First Offense 1,000.00 $ each 1,000.00 $ each Updatin g fee schedule Second or Subsequent Offenses in the same year 5,000.00 $ each 5,000.00 $ each Updatin g fee schedule 6 Planning Categorical Exemption 150.00 $ each $150 + HOURLY AFTER 3 HOURS each Increase 7 Planning 1,405.00$ each $1,405 + HOURLY AFTER 24HOURS each Increase 8 Planning Negative Declaration / MND In-House Staff (not including County charges) 2,500.00$ each $2,500 + HOURLY AFTER 24HOURS each Increase 9 Planning CEQA Addendum In-House 625.00 $ each $1,000 + HOURLY AFTER 24HOURS each Increase 10 Planning Cannabis - annual license review per type of license (contract-Outsource) New Fee each 2,500.00 $ each New Fee 11 Planning Cannabis - late fees New Fee each 10% each New Fee (d) Discharging safe and sane fireworks in the City in any manner other than in compliance with the Lynwood Municipal Code
(e) Sale of dangerous fireworks
Fee Name
Environmental Assessment - Initial Study
(a) Possession of dangerous fireworks
(b) Discarding dangerous fireworks and/or screaming fireworks (c) Discharging safe and sane fireworks in the City in any manner other than in compliance with the instructions of the manufacturer Lynwood Successor Agency - Page 19 of 93

RESOLUTION NO._________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD ESTABLISHING THE APPROPRIATION LIMIT FOR FISCAL YEAR 2022-23

PURSUANT TO ARTICLE XIIIB OF THE CALIFORNIA CONSTITUTION

WHEREAS, Article XIIIB of the California Constitution states that the total annual appropriation subject to limitations of each government entity shall not exceed the appropriation limit of such entity of government, except for prior year adjustments in the cost-of-living or personal income and population, as noted in Article XIIIB and State Statues; and

WHEREAS, pursuant to Article XIIIB of the California Constitution, and section 7900 et seq. of the California Go vernment Code, the City of Lynwood is required to set its appropriation limit for each fiscal year by resolution, and approve appropriate inflation and population factors used in calculating the limit; and

WHEREAS, the total annual appropriation subject to limitation has been computed in accordance with provisions set forth in Article XIIIB, Government Code Section 7900 et seq. and Proposition 111; and

WHEREAS, detailed documentation used in calculating the appropriation limit for FY 2022-23 is available for review on file in the Finance and Administration Department, and a summary is provided in the attached Exhibit “B”, which is incorporated as a part of this resolution for reference.

NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF LYNWOOD
DOES HEREBY FIND, ORDER, AND RESOLVE AS FOLLOWS:

Section 1. That the City reserves the right to adjust or amend the appropriation limit based upon use of alternative growth factors as authorized by Proposition 111 if such changes or revisions would result in an advantageous appropriation limit, now or in the future.

Section 2. That the City of Lynwood’s Appropriation Limit for FY 2022-23 is $42,667,338 as calculated under Exhibit “B”.

Section 3 . That the growth factors used in calculating the FY 2022-23 Appropriation Limit shall be the percentage change in California per capita income and the percentage change in population in the County of Los Angeles.

Section 4. The resolution shall take effect immediately upon its adoption.

Lynwood Successor Agency - Page 20 of 93

2 PASSED, APPROVED AND ADOPTED this 21st day of June, 2022.

_________________________
Jorge Casanova
Mayor

ATTEST:

______________________________ __________________________ Maria Quinonez Ernie Hernandez
City Clerk City Manager

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

___________________________ __________________________ Noel Tapia Harry Wong
City Attorney Director of Finance & Administration

Lynwood Successor Agency - Page 21 of 93

3 STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

AYES:

NOES:

ABSENT:

ABSTAIN:

________________________
Maria Quiňonez,
City Clerk

STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

___________________________
Maria Quiňonez,
City Clerk
Lynwood Successor Agency - Page 22 of 93

EXHIBIT B

APPROPRIATION LIMIT CALCULATION

POPULATION APPROPRIATION
YEAR CPI CHANGE % * FACTOR* LIMIT**
FY 1986-87 BASE YEAR 8,490,630
FY 2000-2001 (Recalculated) 17,267,822
FY 2001-2002 (Recalculated) 7.82% 1.09611 18,927,227
FY 2002-2003 (Recalculated) -1.27% 1.63% 1.00480 19,017,609 FY 2003-2004 (Recalculated) 2.31% 1.03% 1.04010 19,779,900 FY 2004-2005 (Recalculated) 3.28% 0.61% 1.04710 20,710,597 FY 2005-2006 (Recalculated) 5.26% 0.31% 1.06500 22,057,214 FY 2006-2007 (Recalculated) 3.96% 0.35% 1.04700 23,109,539 FY 2007-2008 (Recalculated) 4.42% 1.20% 1.05170 24,304,724 FY 2008-2009 (Recalculated) 4.29% 1.31% 1.05190 25,565,384 FY 2009-2010 (Recalculated) 4.35% 1.11% 1.01530 25,955,404 FY 2010-2011 (Recalculated) -2.54% 0.53% 0.98270 25,506,095 FY 2011-2012 (Recalculated) 2.51% 0.77% 1.02900 26,245,654 FY 2012-2013 3.77% 0.56% 1.04350 27,387,602
FY 2013-2014 5.12% 1.02% 1.06192 29,083,504
FY 2014-2015 -0.23% 0.42% 1.00548 29,242,942
FY 2015-2016 3.82% 0.52% 1.04671 30,608,975
FY 2016-2017 5.37% 0.20% 1.06266 32,526,825
FY 2017-2018 4.28% 0.57% 1.03690 33,919,309
FY 2018-2019 3.67% 0.78% 1.04479 35,438,428
FY 2019-2020 3.85% -0.01% 1.03840 36,799,127
FY 2020-2021 3.73% -0.11% 1.03616 38,129,746
FY 2021-2022 5.73% -0.89% 1.04789 39,955,781
2022-2023:
*Per Capita Cost of Living Change = 7.55 percent
*Population Change (Los Angeles County) = -0.71 percent Based on Population Change - County
Per Capita Cost of Living Converted to a Ratio: 7.55+100 = 1.07550
100
Population increase Converted to a Ratio: (-0.71)+100 = 0.99290 100
Calculation of Factor for FY 2022-2023: 1.07550 x 0.99290 = 1.06786 Calculation of Appropriation Limit $39,955,781 x 1.06786 = $42,667,338 (Prior Year's Appropriation Limit Multiplied by Factor)

STATUS OF APPROPRIATION LIMI
T FY 2022-2023
Maximum Appropriation Limit 42,667,338
(1) Proceeds of Taxes (less Retirement Taxes + Interest Allocation for Taxes) 43,977,851 Under Maximum Appropriation Limit -1,310,513
Over Maximum Appropriation Limit -
(1) (+) Proceeds of Taxes 48,395,838
(-) Retirement Taxes 4,618,327
(+) Interest Alloc. on Proceeds of Taxes 200,340
Total 43,977,851
*Source: State Department of Finance
Lynwood Successor Agency - Page 23 of 93
Lynwood Successor Agency - Page 24 of 93
Lynwood Successor Agency - Page 25 of 93
Lynwood Successor Agency - Page 26 of 93
Lynwood Successor Agency - Page 27 of 93
Lynwood Successor Agency - Page 28 of 93

REVENUE SUMMARY
FISCAL YEAR 2022-23
Revenue Categories:

Taxes 48,395,838
Licenses/Permits 605,100
Revenue from Other Agencies 28,631,056
Charges for Services 17,423,587
Other Revenue 11,762,073
Fines, Forfeits & Penalties 1,010,500
Revenue from Money/Prop 760,497
Total Revenues 108,588,651
Taxes (Exclude Interest) 48,395,838
Non-taxes (Exclude Interest) 59,745,151
Total - Taxes and Non-Taxes 108,140,989
Add: Interest 447,662
Total - Taxes, Non-Taxes & Interest 108,588,651
Interest Distribution
(%):

Allocation for Taxes 44.75% 200,340
Allocation for Non-Taxes 55.25% 247,322
Total Interest 100.00% 447,662
Revenue Summary:

Taxes plus interest 48,596,178
Non-Taxes plus Interest 59,992,473
Total Revenues 108,588,651
Lynwood Successor Agency - Page 29 of 93
REVENUE SUMMARY FISCAL YEAR 2022-23
Fund No. Fund Name Taxes Licenses/
Permits
Revenue
From
Other
Agencies
Charges
For
Services
Other
Revenue
Fines,
Forfeits,
& Penalties
Revenue
From
Money/
Prop
Transfers
In Totals
1011 General Fund 34,737,123 $ 605,100 $ 104,929 $ 1,534,800$ 1,612,812 $ 906,000 $ 420,497 $ 2,218,674$ 42,139,935 $ 1012 Community Development - A - - - - - - 4 - 4 1013 Community Development Housing - A - - 1,500,000 - - - - - 1,500,000 1014 Community Development - B - - - - - - - - - 1015 Community Development Housing - B - - - - - - - - - 1016 Tax Allocation Bond Reserves - - - - - - - - - 1017 Community Development A Bond
Proceeds - - - - - - - - - 1018 1099 Bond Proceeds - - - - - - - - - 1019 2011 Series A Bond Proceeds - - - - - - - - 1020 2011 Series B Bond Proceeds - - - - - - - - - 1021 Redevelopment Obligation Retirement - - - 5,198,938 - - 5,198,938 1022 AB 1484 Housing Asset Fund - - - - 5,000 - - - 5,000 1023 Enterprise Zone Program - - - - - - 1,695 - 1,695 1025 Donation - (Lucy Avalos CC) - - - - - - - - - 1051 Contingency Set Aside - - - - - - - - - 1052 Refuse Fund 1,200,000 - - 542,000 13,400 102,000 5,981 - 1,863,381 1055 ARPA 2021 12,176,519 12,176,519
2011 Retirement Fund 4,618,327 - - - - - - - 4,618,327 2051 Traffic Safety Fund - - - - - - - - - 2101 Gas Tax Fund - - 2,018,261 - - - 9,737 - 2,027,998 2121 SB1 Fund 1,592,891 1,592,891
2151 Transportation Invest.
(AB2928) Fund - - - - - - - - 2201 STP Fund 1,514,364 1,514,364
2251 Bike & Ped. Grant
(SB 821) Fund - - 202,067 - - - 5 - 202,072 2252 LACMTA TOD Planning Grant - - - - - - - - - 2301 Prop "A" Fund 1,862,399 - - - - - 58,993 - 1,921,392 2350 Measure M 1,202,007 1,202,007
Lynwood Successor Agency - Page 30 of 93
REVENUE SUMMARY FISCAL YEAR 2022-23
Fund No. Fund Name Taxes Licenses/
Permits
Revenue
From
Other
Agencies
Charges
For
Services
Other
Revenue
Fines,
Forfeits,
& Penalties
Revenue
From
Money/
Prop
Transfers
In Totals
2351 Prop "C" Fund 1,414,126 - - - - - 37,117 - 1,451,243 2352 Measure R 1,060,595 - - - - - 23,888 - 1,084,483 2357 Measure M Bonds - - - - - - - - - 2401 Transportation Fund - - - 2,315 - - - 1,900,971 1,903,286 2451 Air Quality Improvement
Fund - - 80,028 - - - 2,795 - 82,823 2501 State COPS Program Fund - - 100,000 - - - 3,009 - 103,009 2551 Local Law Enforcement
Block Grant - - - - - - - - - 2601 Sheriff Drug Seizure Fund - - - - - 2,500 142 - 2,642 2651 Street Lighting Fund 1,078,529 - - - - - - 1,078,529 2701 Landscape Maint.

Assessment District 1,097,732 - - - - - - - 1,097,732 2751 Impact Fees Fund - - - 48,500 - - 12,846 - 61,346 2801 Public Art Fund - - - 36,000 - - 6,202 - 42,202 2851 Litter Abatement Fund - - - 379,000 - - 81 410,484 789,565 2901 Section 108 Loan Fund - - - - - - - - - 2921 Section 108 Loan / 2002 - - - - - - 295 - 295 2941 HUD/CDBG Fund - - 1,158,831 - - - - - 1,158,831 2961 HUD Home Program Fund - - 959,182 - - - - - 959,182 2962 CalHome State Grant - - - - - - - - - 3000 Cannabis Cultivation - -
3381 Business Improvement
District Fund 125,000 - - - - - 4,006 - 129,006 3421 Anti-Litter Grant Fund - - - - - - - - - 3501 Beverage Recycle Grant
Fund - - 36,150 - - - 2,923 - 39,073 3521 Urban Tree Planting Grant Fund - - - - - - - - - 3531 Urban Greening Fund - - 2,792,950 - - - - - 2,792,950 3532 ATP Grant Fund - - - - - - - - - Lynwood Successor Agency - Page 31 of 93
REVENUE SUMMARY FISCAL YEAR 2022-23
Fund No. Fund Name Taxes Licenses/
Permits
Revenue
From
Other
Agencies
Charges
For
Services
Other
Revenue
Fines,
Forfeits,
& Penalties
Revenue
From
Money/
Prop
Transfers
In Totals
3541 LA Co. Park Maint. Grant
Fund - - - - - - 121 - 121 3561 Other Grant Fund - - 115,000 - - - - - 115,000 3621 Used Oil Recycling Grant
Fund - - 19,243 - - - 78 - 19,321 3661 2000 Bond Act/Per Capita
Grant Fund - - - - - - - - - 3681 TEA Grant Fund - - - - - - - - - 3682 DOE Block Grant - - - - - - - - - 3701 Safe School Route Grant
Fund - - - - - - - - - 3721 State of CA CEC Grant - - - - - - - - - 3741 Dupont/Lead Safety Grant
Fund - - - - - - 10,087 - 10,087 3782 Prop 84 Park Grant - - - - - - - - - 3791 Prop 1B Fund - - - - - - - - 3801 Justice Assistance Grant - - 40,000 - - - - - 40,000 3821 RMC Grant - - 2,381,041 - - - - - 2,381,041 3861 State Transp. Partnership
Program - - - - - - - - - 4011 Capital Projects Fund
(by project) - - - - - - - 51,557,380 51,557,380 4021 HSIP Grant Fund 1,259,600 1,259,600
4041 Safe Clean Water Fund 580,000 580,000
4101 Park Replacement Fund - - - - - - - - - 4151 CIP Loan Proceeds Fund - - - - - - - - - 4451 Roberti-Zberg-Harris Fund - - - - - - - - - 5011 City Debt Service Fund - - - - - - - 2,008,301 2,008,301 6011 1999 Water Bonds
Proceeds - - - - - - - - - 6051 Water/Enterprise Fund - - - 12,031,474 - - 77,325 - 12,108,799 6151 1995 Water Revenue Bonds - - - - - - - - - 6201 2003 Enterprise Revenue
Bonds - - - - - - - - - Lynwood Successor Agency - Page 32 of 93
REVENUE SUMMARY FISCAL YEAR 2022-23
Fund No. Fund Name Taxes Licenses/
Permits
Revenue
From
Other
Agencies
Charges
For
Services
Other
Revenue
Fines,
Forfeits,
& Penalties
Revenue
From
Money/
Prop
Transfers
In Totals
6301 2008 Enterprise Rev Bond
Series A - - - - - - - - - 6401 Sewer Fund - - - 2,849,498 - - 32,670 - 2,882,168 7011 Garage Fund - - - - - - - - - 7151 Self-Insurance Fund - - - - 4,931,923 - 50,000 1,177,623 6,159,546 9011 Public Finance Authority - - - - - - - 3,200 3,200 9051 2003 Lease Revenue
Refunding - - - - - - - - - 9052 2010 Lease Revenue Bonds Series A - - - - - - - - - Totals 48,395,838$ 605,100 $ 28,631,056$ 17,423,587 $ 11,762,073 $ 1,010,500 $ 760,497 $ 59,276,633$ 167,865,284$ Deduct interest (447,662)
Taxes 48,395,838 Non-taxes 59,745,151
Lynwood Successor Agency - Page 33 of 93
Agenda Item # 5.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Maria Quinonez, City Clerk
Silvia Pineda, Assistant to the City Clerk
Nancy Blinzler, Office Assistant

SUBJECT:

PREVIOUS MEETING MINUTES
Recommendation:

Staff recommends that the Lynwood Successor Agency approve the following minutes:

January 4, 2022
January 18, 2022
February 1, 2022
February 15, 2022
March 1, 2022
March 15, 2022
April 19, 2022
May 17, 2022

Background:

N/A
Discussion and Analysis:

N/A
Fiscal Impact:

N/A
Coordinated With:

Lynwood Successor Agency - Page 34 of 93
N/A
ATTACHMENTS:

Description
LSA Regular Meeting 01/04/2022
LSA Regular Meeting 01/18/2022
LSA Regular Meeting 02/01/2022
LSA Regular Meeting 02/15/2022
LSA Regular Meeting 03/01/2022
LSA Regular Meeting 03/15/2022
LSA Regular Meeting 04/19/2022
LSA Regular Meeting 05/17/2022
Lynwood Successor Agency - Page 35 of 93
1 City of Lynwood as Successor Agency to the
Lynwood Redevelopment Agency
Meeting Minutes
January 4, 2022

01. CALL TO ORDER
The City of Lynwood as Successor Agency to the Lynwood Redevelopment Agency met in the Council Chambers, 11350 Bullis Road, Lynwood, CA or Web Conference Via ZOOM or by telephone: 1 -619-9009128 or 1 -253-215-8782 Meeting ID: 835 2029 8238 on the above date at 6:00 p.m.

Meeting called to order 6:35 pm.

Mayor Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY CITY CLERK
City Clerk Quinonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF COUNCIL MEMBERS
PRESENT: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO

TEM SOLACHE AND MAYOR CASANOVA

ABSENT: NONE

STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and City Clerk Quiňonez

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS
NONE

Lynwood Successor Agency - Page 36 of 93
2 Consent Calendar
All matters listed under the Consent Calendar will be acted upon by one motion affirming the action recommended on the agenda. There will be no separate discussion on these items prior to voting unless members of the Council or staff request specific items be removed from the Consent Calendar for separate action

MOTION: It was moved by Council Member Soto, seconded by Council Member Santana to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO

TEM SOLACHE AND MAYOR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. TREASURER’S QUARTERLY REPORT
Received and Filed TREASURER’S QUARTERLY REPORT

ENTITLED: TREASURER'S QUARTERLY REPORT

05. TREASURER’S SPECIAL INVESTMENT REPORT FOR AUGUST – NOVEMBER 2021

ROLL CALL:

AYES: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO

TEM SOLACHE AND MAYOR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

Received and Filed TREASURER’S SPECIAL INVESTMENT
REPORT FOR AUGUST – NOVEMBER 2021

ENTITLED: TREASURER'S SPECIAL INVESTMENT REPORT FOR AUGUST – NOVEMBER 2021

06. ADOPTION OF THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD OF JULY 1, 2022 TO JUNE 30, 2023 (ROPS 22-23) AND

ADOPTION OF THE ADMINISTRATIVE BUDGET

Approved and Adopted RESOLUTION NO. 2022.001
Lynwood Successor Agency - Page 37 of 93
3 ENTITLED: A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

LYNWOOD, COUNTY OF LOS ANGELES, STATE OF CALIFORNIA, AS

SUCCESSOR TO THE LYNWOOD REDEVELOPMENT AGENCY APPROVING

THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE COVERING THE PERIOD OF JULY 1, 2022 TO JUNE 30, 2023 AND ADOPTING THE

ADMINISTRATIVE BUDGET

ADJOURNMENT

Having no further discussion, it was moved by Council Member Santana , seconded by Mayor Pro Tem Solache to adjourn the Successor Agency to The Lynwood Redevelopment Agency Meeting at 6: 36 p.m. Motion passed by unanimous consent.

_____________________ _____________________
Maria Quinonez, City Clerk Jorge Casanova, Mayor
Lynwood Successor Agency - Page 38 of 93
1 City of Lynwood as Successor Agency to the
Lynwood Redevelopment Agency
Meeting Minutes
January 18, 2022

Meeting called to order 6:21 pm.

Mayor Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY CITY CLERK
City Clerk Quinonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF COUNCIL MEMBERS
PRESENT: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO

TEM SOLACHE AND MAYOR CASANOVA
ABSENT: NONE
STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and City Clerk Quiňonez

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS
NONE

Lynwood Successor Agency - Page 39 of 93
2 Consent Calendar

MOTION: It was moved by Mayor Pro Tem Solache, seconded by Council Member Soto to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO

TEM SOLACHE AND MAYOR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. APPROVAL OF THE WARRANT REGISTER-SA
Approved and Adopted RESOLUTION NO. 2022.002

ENTITLED: WARRANT REGISTER DATED JANUARY 18, 2022 FOR FY 2021- 2022.

05. TREASURER’S INVESTMENT POLICY

Approved and Adopted RESOLUTION NO. 2022.003

ENTITLED: A RESOLUTION OF THE CITY OF LYNWOOD AS SUCCESSOR TO THE LYNWOOD REDEVELOPMENT AGENCY APPROVING THE TREASURER’S

INVESTMENT POLICY STATEMENT

06. TREASURER’S MONTHLY INVESTMENT REPORT

Received and filed TREASURER’S INVESTMENT REPORT

ENTITLED: TREASURER’S MONTHLY INVESTMENT REPORT

Lynwood Successor Agency - Page 40 of 93
3 ADJOURNMENT

Having no further discussion, it was moved by Council Member Soto , seconded by Council Member Santana to adjourn the Successor Agency to The Lynwood Redevelopment Agency Meeting at 6:22 p.m. Motion passed by unanimous vote.

_____________________ _____________________
Maria Quinonez, City Clerk Jorge Casanova, Mayor

Lynwood Successor Agency - Page 41 of 93
1 City of Lynwood as Successor Agency to the
Lynwood Redevelopment Agency
Meeting Minutes
February 1, 2022

01. CALL TO ORDER
The City of Lynwood as Successor Agen cy to the Lynwood Redevelopment Agency met in the Council Chambers, 11350 Bullis Road, Lynwood, CA or Web Conference Via ZOOM or by telephone: 1 -619-9009128 or 1 -253-215-8782 Meeting ID: 835 2029 8238 on the above date at 6:00 p.m.

Meeting called to order 7:04 pm.

Mayor Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY CITY CLERK
City Clerk Quinonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF COUNCIL MEMBERS
PRESENT: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR

PRO TEM SOLACHE AND MAYOR CASANOVA

ABSENT: NONE

STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and City Clerk Quiňonez

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS
NONE

Lynwood Successor Agency - Page 42 of 93
2 Consent Calendar

MOTION: It was moved by Mayor Pro Tem Solache , seconded by Council Member Flores to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO

TEM SOLACHE AND MAYOR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. APPROVAL OF THE WARRANT REGISTER-SA
Approved and Adopted RESOLUTION NO. 2022.004

ENTITLED: WARRANT REGISTER DATED FEBRUARY 1, 2022 FOR FY 2021-2022.

05. TREASURER’S QUARTERLY REPORT

Received and filed TREASURER’S QUARTERLY REPORT

ENTITLED: TREASURER’S QUARTERLY REPORT

ADJOURNMENT

Having no further discussion, it was moved by Council Member Flores, seconded by Council Member Soto to adjourn the Successor Agency to The Lynwood Redevelopment Agency Meeting at 7:06 p.m. Motion passed by unanimous consent.

_____________________ _____________________ Maria Quinonez, City Clerk Jorge Casanova, Mayor Lynwood Successor Agency - Page 43 of 93
1 City of Lynwood as Successor Agency to the
Lynwood Redevelopment Agency
Meeting Minutes
February 15, 2022

Meeting called to order 6:33 pm.

Mayor Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY CITY CLERK
City Clerk Quinonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF COUNCIL MEMBERS
PRESENT: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO

TEM SOLACHE AND MAYOR CASANOVA

ABSENT: NONE

STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and City Clerk Quinonez.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS
NONE

Lynwood Successor Agency - Page 44 of 93
2 Consent Calendar

MOTION: It was moved by Council Member Flores, seconded by Mayor Pro Tem Solache to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO

TEM SOLACHE AND MAYOR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. PREVIOUS MEETING MINUTES
Approved PREVIOUS MEETING MINUTES

ENTITLED: Meeting minutes for July 6, 2021 Regular Meeting, July 20, 2021 Regular Meeting, August 3, 2021 Special Meeting, August 17, 2021 Regular Meeting, September 7, 2021 Regular Meeting

05. TREASURER’S MONTHLY INVESTMENT REPORT

Received and filed TREASURER’S MONTHLY INVESTMENT REPORT

ENTITLED: TREASURER’S MONTHLY INVESTMENT REPORT

ADJOURNMENT

Having no further discussion, it was moved by Council Member Santana, seconded by Mayor Pro Tem Solache to adjourn the Successor Agency to The Lynwood Rede velopment Agency Meeting at 6:35 p.m. Motion passed by unanimous consent.

_____________________ _____________________
Maria Quinonez, City Clerk Jorge Casanova, Mayor

Lynwood Successor Agency - Page 45 of 93
1 City of Lynwood as Successor Agency to the Lynwood
Redevelopment Agency Meeting
Meeting Minutes
March 1, 2022

01. CALL TO ORDER
The City of Lynwood as Successor Agency to the Lynwood Redevelopment Agency Meeting of the City of Lynwood met in the Council Chambers, 11350 Bullis Road, Lynwood, CA 90262 or Web conference via ZOOM - To participate via Zoom or by telephone: 1-669-900-9128 or 1-253-215-8782 Meeting ID: 835 2029 8238 on the above date at 6:00 p.m.

Meeting called to order 6:31 pm.

Mayor Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY CITY CLERK
City Clerk Quinonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF COUNCIL MEMBERS
PRESENT: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO

TEM SOLACHE AND MAYOR CASANOVA
STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho, City Clerk Quiňonez

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS
NONE
Consent Calendar
All matters listed under the Consent Calendar will be acted upon by one motion affirming the action recommended on the agenda. There will be no separate discussion on these items prior to voting unless members of the Council or staff request specific items be removed from the Consent Calendar for separate action.

MOTION: It was moved by Mayor Pro Tem Solache, seconded by Council Member Soto to approve the consent calendar. Motion carried by unanimous consent.

Lynwood Successor Agency - Page 46 of 93
2 ROLL CALL:

AYES: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO

TEM SOLACHE AND MAYOR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. PREVIOUS MEETING MINUTES

Approved Meeting Minutes for Lynwood Successor Agency October 5, 2021 Regular Meeting
ENTITLED: Meeting Minutes for Lynwood Successor Agency October 5, 2021 Regular Meeting

ADJOURNMENT

Having no further discussion, it was moved by Council Member Santana, seconded by Council Member Soto to adjourn the Successor Agency to The Lynwood Redevelopment Agency Meeting at 6:3 2 p.m. Motion passed by unanimous consent.

_____________________ _____________________
Maria Quinonez, City Clerk Jorge Casanova, Mayor

Lynwood Successor Agency - Page 47 of 93
1 City of Lynwood as Successor Agency to the Lynwood
Redevelopment Agency Meeting
Meeting Minutes
March 15, 2022

Meeting called to order 6:51 pm.

Mayor Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY CITY CLERK
Assistant to City Clerk Quinonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF COUNCIL MEMBERS
PRESENT: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO TEM

SOLACHE AND MAYOR CASANOVA

ABSENT: NONE

STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, and City Treasurer Camacho
ABSENT: City Clerk Quiňonez

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE

Lynwood Successor Agency - Page 48 of 93
2 MOTION: It was moved by Mayor Pro Tem Solache , seconded by Council Member Soto to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO TEM

SOLACHE AND MAYOR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. PREVIOUS MEETING MINUTES

Approved City of Lynwood as Successor Agency to the Lynwood Redevelopment Agency November 2, 2021 Meeting Minutes

ENTITLED: City of Lynwood as Successor Agency to the Lynwood Redevelopment Agency November 2, 2021 Meeting Minutes

05. TREASURER'S MONTHLY INVESTMENT REPORT

Received and Filed TREASURER'S MONTHLY INVESTMENT REPORT ENTITLED: TREASURER'S MONTHLY INVESTMENT REPORT

ADJOURNMENT

Having no further discussion, it was moved by Mayor Pro Tem Solache, seconded by Council Member S antana to adjourn the Successor Agency to The Lynwood Redevelopment Agency Meeting at 6:52 p.m. Motion passed by unanimous consent.

_____________________ ______________________ Maria Quinonez, City Clerk Jorge Casanova, Mayor Lynwood Successor Agency - Page 49 of 93
1 City of Lynwood as Successor Agency to the Lynwood
Redevelopment Agency Meeting
Meeting Minutes
April 19, 2022

Meeting called to order 6:51 pm
Mayor Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY CITY CLERK
City Clerk Quinonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF COUNCIL MEMBERS
PRESENT: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO

TEM SOLACHE AND MAYOR CASANOVA
STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho, City Clerk Quiňonez

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE

MOTION: It was moved by Mayor Pro Tem Solache, seconded by Council Member Santana to approve the consent calendar. Motion carried by unanimous consent.

Lynwood Successor Agency - Page 50 of 93
2 ROLL CALL:

AYES: COUNCIL MEMBERS FLORES, SANTANA, SOTO, MAYOR PRO

TEM SOLACHE AND MAYOR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. TREASURER'S QUARTERLY REPORT

Received and Filed TREASURER'S QUARTERLY REPORT
ENTITLED: TREASURER'S QUARTERLY REPORT

ADJOURNMENT

Having no further discussion, it was moved by Council Member Santana, seconded by Mayor Pro Tem Solache Council Member S antana to adjourn the Successor Agency to The Lynwood Redevelopment Agency Meeting at 6:52 p.m. Motion passed by unanimous consent.

_____________________ ______________________ Maria Quinonez, City Clerk Jorge Casanova, Mayor

Lynwood Successor Agency - Page 51 of 93
1 City of Lynwood as Successor Agency to the Lynwood
Redevelopment Agency Meeting
Meeting Minutes
May 17, 2022

01. CALL TO ORDER
The City of Lynwood as Successor Agency to the Lynwood Redevelopment Agency Meeting of the City of Lynwood met in the Council Chambers, 11350 Bullis Road, Lynwood, CA 90262 or Web conference via ZOOM - To participate via Zoom or by telephone: 1 -669-900-9128 or 1-253-215-8782 Meeting ID: 835 2029 8238 on the above date at 6:00 p.m.

Meeting called to order 7:13 pm.

Mayor Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY CITY CLERK
City Clerk Quinonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF COUNCIL MEMBERS
PRESENT: COUNCIL MEMBER FLORES, MAYOR PRO TEM SOLACHE AND

MAYOR CASANOVA
ABSENCE: COUNCIL MEMBERS SANTANA AND SOTO
STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and City Clerk Quiňonez

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS
NONE

Lynwood Successor Agency - Page 52 of 93
2 Consent Calendar
All matters listed under the Consent Calendar will be acted upon by one motion affirming the action recommended on the agenda. There will be no separate discussion on these items prior to voting unless members of the Council or staff request specific items be removed from the Consent Calendar for separate action.

MOTION: It was moved by Council Member Flores, seconded by Mayor Pro Tem Solache to approve the consent calendar. Motion carrie d by 3-0 vote.

ROLL CALL:

AYES: COUNCIL MEMBERS FLORES, MAYOR PRO TEM SOLACHE

AND MAYOR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: COUNCIL MEMBERS SANTANA AND SOTO

04. TREASURER'S MONTHLY INVESTMENT REPORT

Received and Filed TREASURER'S MONTHLY INVESTMENT REPORT ENTITLED: TREASURER'S MONTHLY INVESTMENT REPORT

ADJOURNMENT

Having no further discussion, it was moved by Council Member Santana, seconded by Mayor Pro Tem Solache to adjourn the Successor Agency to The Lynwood Redevelopment Agency Meeting at 7:14 p.m. Motion passed by unanimous consent.

_____________________ _____________________
Maria Quinonez, City Clerk Jorge Casanova, Mayor

Lynwood Successor Agency - Page 53 of 93
Agenda Item # 6.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of Lynwood City Council, as Successor to Lynwood Redevelopment Board

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Gabriela Camacho, City Treasurer
Sheila Harding, Deputy City Treasurer

SUBJECT:

TREASURER'S MONTHLY INVESTMENT REPORT
Recommendation:

It is recommended that the City Council for the City of Lynwood receive and file the attached Monthly Investment Report.

Background:

Subsequent reports will be provided on a monthly basis at the second meeting of each month.

Discussion and Analysis:

Lynwood Successor Agency - Page 54 of 93
The investment transactions were executed in accordance with the City's Investment Policy and the California State Government Code Section 5346(b)(3) that requires the general fund is able to meet its expenditure requirements for the next six months.

Fiscal Impact:

The action recommended in this report will not have a fiscal impact on the City.

Coordinated With:

FHN Financial Main Street Advisors currently monitors the City’s investment activities.

ATTACHMENTS:

Description
ACTIVITY & PERFORMANCE - MAY 2022
FHN REPORT - MAY 2022
CNBC ECONOMIC REPORT - MAY 2022
FHN ECONOMIC REPORT - MAY 2022
Lynwood Successor Agency - Page 55 of 93

ACTIVITY & PERFORMANCE SUMMARY
MAY 31, 2022

FHN Investment Advisors manage the portion of investments not invested by LAIF (State Local Agency Investment Fund).

The tables below provide key statistics regarding the City’s cash flow and investment portfolio as of May 31, 2022.

Lynwood Successor Agency - Page 56 of 93

ACTIVITY & PERFORMANCE SUMMARY
MAY 31, 2022

INCOME EARNED SUMMARY

Total Adjustments for Amortization/Accretion -1,594.96 -17,543.36 Total Capital Gains or Losses 0.00 0.00
Total Earnings During Period 18,597.36 222,370.70

Lynwood Successor Agency - Page 57 of 93
Run Date: 6/2/2022 - 1:08 PM
Amortizing Page 2
Portfolio Summary
City of Lynwood 5/31/2022

SECTOR ALLOCATION MATURITY DISTRIBUTION CREDIT QUALITY (MOODY'S)

0.60%

0.70%

0.80%

0.90%

1.00%

1.10%

1.1%

1.3%

7.7%

14.2%

14.6%

24.8%

36.4%
MMF
CP
CORP
CD
AGY
TSY
LAIF
100%75%50%25%0%

48.3%

14.3% 11.5% 13.2% 12.7%
0-1Y 1-2Y 2-3Y 3-4Y 4-5Y+
0%
10%
20%
30%
40%
50%
60%
70%

50.5%

3.8%

1.9%

1.0%

41.4%

1.3%
NR
A3
A2
A1
Aa3
Aa2
Aa1
Aaa
P-1
100%75%50%25%0%
2 Lynwood Successor Agency - Page 58 of 93
Run Date: 6/2/2022 - 1:08 PM
Amortizing Page 3
Investment Policy Compliance
City of Lynwood 5/31/2022
Category Book Value % of Portfolio % Allowed by Policy In ComplianceReserved row US Treasuries 6,501,892.55 24.77% 100% Yes
US Federal Agencies 3,823,277.39 14.56% 100% Yes
Supranational Obligations 0.00 0.00% 30% Yes
LAIF 9,545,267.55 36.36% 100% Yes
Commercial Paper 349,886.56 1.33% 25% Yes
Money Market Funds 294,665.76 1.12% 20% Yes
Negotiable Certificates of Deposit 3,719,047.77 14.17% 30% Yes Corporate Obligations 2,020,281.63 7.70% 30% Yes
State and Local Governments 0.00 0.00% 100% Yes
Total 26,254,319.22 100.00%
Other Metrics Portfolio Metric In Compliance
Weighted Average Maturity 1.55 Less than 3.0 Years Yes
Liquidity 48.30% 30% Under 365 Days Yes
Ratings Yes
3 Lynwood Successor Agency - Page 59 of 93
Holdings Report
City of Lynwood May 31, 2022
Call Date
Maturity Date
Par Value
Settle Date
Book Value
Original Value
Mkt YTM
Mkt Price
Gain/Loss
% of Port
Fitch
Moody/S&P
Eff. Dur.

WAM
Accrued Int.

Market Value
CUSIP Coupon Rate
Issuer
Book Yield
Remaining
Certificates of Deposit
33847E2J5 248,000.00Flagstar Bank 06/12/2019 248,000.00 100.05 248,129.61 0.94% NR/NR 0.0406/13/2022 129.61 NR 0.03 2,904.66 2.50% 248,000.00 1.07%2.500% 1404203Z1 248,000.00Capital One Bank USA 08/03/2017 247,417.20 100.18 248,455.00 0.94% NR/NR 0.1708/02/2022 475.11 NR 0.17 1,859.66 2.35% 247,979.88 1.25%2.300% 795450D36 248,000.00Sallie Mae Bank 08/24/2017 247,417.20 100.26 248,635.94 0.94% NR/NR 0.2308/23/2022 662.76 NR 0.23 1,564.78 2.40% 247,973.18 1.24%2.350% 61747MF63 248,000.00Morgan Stanley Bank 01/12/2018 247,417.20 100.31 248,759.99 0.94% NR/NR 0.6201/11/2023 831.84 NR 0.60 2,538.77 2.70% 247,928.15 2.14%2.650% 59013J5Z8 248,000.00Merrick Bank 12/19/2018 247,516.40 100.78 249,923.93 0.94% NR/NR 0.7302/21/2023 2,008.28 NR 0.70 318.66 3.41% 247,915.65 2.26%3.350% 20033AZK5 248,000.00Comenity Capital Bank 06/29/2018 247,427.12 100.60 249,495.60 0.94% NR/NR 1.0806/29/2023 1,619.21 NR 1.04 67.27 3.40% 247,876.39 2.73%3.300%
38148PR33 248,000.00Goldman Sachs Bank 07/09/2018 247,432.08 100.59 249,472.39 0.94% NR/NR 1.1007/06/2023 1,597.31 NR 1.06 3,273.60 3.35% 247,875.08 2.75%3.300% 949763TF3 248,000.00Wells Fargo Bank NA 08/31/2018 247,429.60 100.67 249,649.58 0.94% NR/NR 1.2508/30/2023 1,792.10 NR 1.20 44.84 3.35% 247,857.48 2.76%3.300%
29278TLY4 248,000.00EnerBank 09/30/2019 247,523.84 98.98 245,459.87 0.94% NR/NR 1.3309/27/2023 -2,382.06 NR 1.29 67.95 2.05% 247,841.93 2.79%2.000% 17312Q3B3 248,000.00Citibank 02/28/2019 247,427.12 100.27 248,671.35 0.94% NR/NR 1.7502/27/2024 871.30 NR 1.67 1,916.05 3.05% 247,800.04 2.84%3.000% 32100LCB9 248,000.00First Missouri State Bank 09/13/2019 248,000.00 97.68 242,248.12 0.94% NR/NR 2.2909/13/2024 -5,751.88 NR 2.22 1,005.59 1.85% 248,000.00 2.91%1.850% 05580AXF6 248,000.00BMW Bank 09/25/2020 248,000.00 92.40 229,148.02 0.94% NR/NR 3.3209/25/2025 -18,851.98 NR 3.28 231.01 0.50% 248,000.00 2.92%0.500% 856283S98 248,000.00State Bank of India 04/27/2021 248,000.00 93.04 230,728.61 0.94% NR/NR 3.9104/27/2026 -17,271.39 NR 3.82 237.81 1.00% 248,000.00 2.90%1.000% 89235MLC3 248,000.00Toyota Financial Savings Bank 07/15/2021 248,000.00 92.49 229,379.22 0.94% NR/NR 4.1307/15/2026 -18,620.78 NR 4.02 884.31 0.95% 248,000.00 2.89%0.950% 90348JR93 248,000.00UBS Bank USA 08/11/2021 248,000.00 92.33 228,973.23 0.94% NR/NR 4.2008/11/2026 -19,026.77 NR 4.09 135.55 0.95% 248,000.00 2.90%0.950% 3,715,007.76 3,647,130.44 14.17% 1.74
3,719,047.77 2.25% 3,720,000.00 2.42% 17,050.51 -71,917.34 1.69Total Certificates of Deposit Commercial Paper
78015DG61 350,000.00Royal Bank of Canada, NY 12/20/2021 349,364.75 99.82 349,374.38 1.33% P-1/A-1+ 0.1007/06/2022 -512.19 F1+ 0.10 0.00 0.33% 349,886.56 2.08%0.000%
Run Date: 6/2/2022 - 1:09 PM
Amortizing
16Lynwood Successor Agency - Page 60 of 93
Holdings Report
City of Lynwood May 31, 2022
Call Date
Maturity Date
Par Value
Settle Date
Book Value
Original Value
Mkt YTM
Mkt Price
Gain/Loss
% of Port
Fitch
Moody/S&P
Eff. Dur.

WAM
Accrued Int.

0.00 NR 0.00 0.00 0.68% 294,665.76 0.68%0.681%
294,665.76 294,665.76 1.12% 0.00
294,665.76 0.68% 294,665.76 0.68% 0.00 0.00 0.00Total Money Market Funds Run Date: 6/2/2022 - 1:09 PM
Amortizing
17Lynwood Successor Agency - Page 61 of 93
Holdings Report
City of Lynwood May 31, 2022
Call Date
Maturity Date
Par Value
Settle Date
Book Value
Original Value
Mkt YTM
Mkt Price
Gain/Loss
% of Port
Fitch
Moody/S&P
Eff. Dur.

WAM
Accrued Int.

Market Value
CUSIP Coupon Rate
Issuer
Book Yield
Remaining
U.S. Agencies
3135G0T78 500,000.00FNMA 11/30/2017 497,400.00 100.20 501,015.00 1.90% Aaa/AA+ 0.3510/05/2022 1,201.25 AAA 0.34 1,555.56 2.11% 499,813.75 1.40%2.000% 3133EKTV8 500,000.00FFCB 07/02/2019 499,900.00 98.89 494,465.00 1.90% Aaa/AA+ 2.0907/01/2024 -5,493.31 AAA 2.02 3,958.33 1.90% 499,958.31 2.45%1.900% 3133EK3B0 200,000.00FFCB 10/17/2019 198,370.00 97.56 195,124.00 0.76% Aaa/AA+ 2.3810/16/2024 -4,101.32 AAA 2.32 375.00 1.67% 199,225.32 2.56%1.500% 3130A4CH3 500,000.00FHLB 10/07/2020 541,330.00 98.92 494,575.00 2.00% Aaa/AA+ 2.7903/14/2025 -31,382.41 AAA 2.67 2,539.93 0.49% 525,957.41 2.78%2.375% 3136G4H71 500,000.00FNMA 08/18/2020 500,000.00 93.08 465,380.00 1.90% Aaa/AA+ 3.2008/12/2025 -34,620.00 AAA 3.15 715.28 0.50% 500,000.00 2.78%0.500% 02/18/2022 3137EAEX3 500,000.00FHLMC 10/20/2020 497,505.00 92.41 462,025.00 1.90% Aaa/AA+ 3.3209/23/2025 -36,297.59 AAA 3.26 354.17 0.48% 498,322.59 2.79%0.375% 3130AQEC3 500,000.00FHLB 12/30/2021 500,000.00 94.58 472,890.00 1.90% Aaa/AA+ 4.5912/30/2026 -27,110.00 AAA 4.29 2,873.19 1.37% 500,000.00 2.63%1.370% 06/30/2022 3130ARTT8 600,000.00FHLB 05/19/2022 600,000.00 100.51 603,030.00 2.29% Aaa/AA+ 4.9705/19/2027 3,030.00 AAA 2.51 600.00 3.00% 600,000.00 2.89%3.000% 05/19/2023 3,834,505.00 3,688,504.00 14.56% 3.06
3,823,277.39 1.46% 3,800,000.00 2.55% 12,971.46 -134,773.38 2.59Total U.S. Agencies U.S. Treasuries
912828ZD5 500,000.00U.S. Treasury 12/16/2020 504,140.63 98.89 494,455.00 1.91% Aaa/AA+ 0.7903/15/2023 -7,001.05 AAA 0.78 529.89 0.13% 501,456.05 1.92%0.500% 91282CAW1 1,000,000.00U.S. Treasury 07/22/2021 999,960.94 97.07 970,660.00 3.81% Aaa/AA+ 1.4611/15/2023 -29,315.39 AAA 1.44 115.49 0.25% 999,975.39 2.31%0.250% 91282CBV2 500,000.00U.S. Treasury 11/22/2021 496,308.59 96.15 480,725.00 1.89% Aaa/AA+ 1.8804/15/2024 -16,385.15 AAA 1.85 240.78 0.69% 497,110.15 2.49%0.375% 912828YV6 1,000,000.00U.S. Treasury 07/22/2021 1,035,742.19 97.20 971,950.00 3.91% Aaa/AA+ 2.5011/30/2024 -54,674.58 AAA 2.44 40.98 0.43% 1,026,624.58 2.67%1.500% 912828ZT0 500,000.00U.S. Treasury 06/29/2021 491,542.97 92.89 464,455.00 1.88% Aaa/AA+ 3.0005/31/2025 -29,072.30 AAA 2.96 3.42 0.69% 493,527.30 2.73%0.250% 91282CAZ4 1,000,000.00U.S. Treasury 07/22/2021 989,492.19 91.97 919,730.00 3.78% Aaa/AA+ 3.5011/30/2025 -71,828.11 AAA 3.44 10.25 0.62% 991,558.11 2.80%0.375% 91282CBH3 500,000.00U.S. Treasury 02/25/2021 494,433.59 91.59 457,950.00 1.89% Aaa/AA+ 3.6701/31/2026 -37,905.33 AAA 3.60 626.73 0.60% 495,855.33 2.80%0.375% 91282CCF6 1,000,000.00U.S. Treasury 07/22/2021 1,002,382.81 92.22 922,150.00 3.82% Aaa/AA+ 4.0005/31/2026 -79,812.39 AAA 3.90 20.49 0.70% 1,001,962.39 2.82%0.750% Run Date: 6/2/2022 - 1:09 PM
Amortizing
18Lynwood Successor Agency - Page 62 of 93
Holdings Report
City of Lynwood May 31, 2022
Call Date
Maturity Date
Par Value
Settle Date
Book Value
Original Value
Mkt YTM
Mkt Price
Gain/Loss
% of Port
Fitch
Moody/S&P
Eff. Dur.

WAM
Accrued Int.

Market Value
CUSIP Coupon Rate
Issuer
Book Yield
Remaining
U.S. Treasuries
91282CCZ2 500,000.00U.S. Treasury 10/19/2021 492,949.22 92.07 460,370.00 1.88% Aaa/AA+ 4.3409/30/2026 -33,453.25 AAA 4.21 741.12 1.17% 493,823.25 2.83%0.875% 6,506,953.13 6,142,445.00 24.76% 2.81
6,501,892.55 0.56% 6,500,000.00 2.61% 2,329.15 -359,447.55 2.75Total U.S. Treasuries 26,286,788.95 25,667,117.13 100.00% 1.55
46,919.00 -587,202.09 1.45 1.81% 26,254,319.22 1.07% 26,209,933.31TOTAL PORTFOLIO TOTAL MARKET VALUE PLUS ACCRUED INTEREST 25,714,036.13 Run Date: 6/2/2022 - 1:09 PM
Amortizing
19Lynwood Successor Agency - Page 63 of 93
Maturity Report
City of Lynwood May 31, 2022
CUSIP Date
Purchase
Value
Book
Rate
Coupon
Date
Maturity
Par
Remaining
Term Value
Market
YTMIssuer
Days to
Maturity
Book
FGTXX 0.681% 1Goldman Sachs Govt MMF 294,665.76 06/01/2022 1 0.68% 294,665.76 294,665.76 9819499 0.523% 1LAIF 05/18/2020 9,545,267.55 06/01/2022 1 0.52% 9,545,267.55 9,545,267.55 33847E2J5 2.500% 1,084Flagstar Bank 06/12/2019 248,000.00 06/13/2022 13 2.50% 248,000.00 248,129.61 46849LSW2 2.500% 1,784Jackson National Life 07/12/2017 249,967.88 06/27/2022 27 2.69% 250,000.00 250,127.50 78015DG61 0.000% 162Royal Bank of Canada, NY 12/20/2021 349,886.56 07/06/2022 36 0.33% 350,000.00 349,374.38 1404203Z1 2.300% 1,762Capital One Bank USA 08/03/2017 247,979.88 08/02/2022 63 2.35% 248,000.00 248,455.00 795450D36 2.350% 1,741Sallie Mae Bank 08/24/2017 247,973.18 08/23/2022 84 2.40% 248,000.00 248,635.94 3135G0T78 2.000% 1,643FNMA 11/30/2017 499,813.75 10/05/2022 127 2.11% 500,000.00 501,015.00 61747MF63 2.650% 1,600Morgan Stanley Bank 01/12/2018 247,928.15 01/11/2023 225 2.70% 248,000.00 248,759.99 59013J5Z8 3.350% 1,259Merrick Bank 12/19/2018 247,915.65 02/21/2023 266 3.41% 248,000.00 249,923.93 912828ZD5 0.500% 531U.S. Treasury 12/16/2020 501,456.05 03/15/2023 288 0.13% 500,000.00 494,455.00 20033AZK5 3.300% 1,432Comenity Capital Bank 06/29/2018 247,876.39 06/29/2023 394 3.40% 248,000.00 249,495.60 38148PR33 3.300% 1,422Goldman Sachs Bank 07/09/2018 247,875.08 07/06/2023 401 3.35% 248,000.00 249,472.39 90331HNV1 3.400% 1,187US Bank 03/01/2019 250,862.92 07/24/2023 419 3.08% 250,000.00 252,225.00 949763TF3 3.300% 1,369Wells Fargo Bank NA 08/31/2018 247,857.48 08/30/2023 456 3.35% 248,000.00 249,649.58 29278TLY4 2.000% 974EnerBank 09/30/2019 247,841.93 09/27/2023 484 2.05% 248,000.00 245,459.87 91282CAW1 0.250% 313U.S. Treasury 07/22/2021 999,975.39 11/15/2023 533 0.25% 1,000,000.00 970,660.00 89236TFS9 3.350% 1,188Toyota Motor Credit 02/28/2019 251,170.86 01/08/2024 587 3.03% 250,000.00 252,332.50 17312Q3B3 3.000% 1,188Citibank 02/28/2019 247,800.04 02/27/2024 637 3.05% 248,000.00 248,671.35 91282CBV2 0.375% 190U.S. Treasury 11/22/2021 497,110.15 04/15/2024 685 0.69% 500,000.00 480,725.00 46625HJX9 3.625% 1,114JPMorgan Chase & Co 05/13/2019 505,894.85 05/13/2024 713 2.97% 500,000.00 506,050.00 3133EKTV8 1.900% 1,064FFCB 07/02/2019 499,958.31 07/01/2024 762 1.90% 500,000.00 494,465.00 32100LCB9 1.850% 991First Missouri State Bank 09/13/2019 248,000.00 09/13/2024 836 1.85% 248,000.00 242,248.12 3133EK3B0 1.500% 957FFCB 10/17/2019 199,225.32 10/16/2024 869 1.67% 200,000.00 195,124.00 912828YV6 1.500% 313U.S. Treasury 07/22/2021 1,026,624.58 11/30/2024 914 0.43% 1,000,000.00 971,950.00 64952WDL4 2.000% 860New York Life 01/22/2020 249,525.82 01/22/2025 967 2.08% 250,000.00 241,610.00 3130A4CH3 2.375% 601FHLB 10/07/2020 525,957.41 03/14/2025 1,018 0.49% 500,000.00 494,575.00 30231GBH4 2.992% 708Exxon Mobil 06/22/2020 263,435.57 03/19/2025 1,023 0.99% 250,000.00 249,875.00 912828ZT0 0.250% 336U.S. Treasury 06/29/2021 493,527.30 05/31/2025 1,096 0.69% 500,000.00 464,455.00 3136G4H71 0.500% 651FNMA 08/18/2020 500,000.00 08/12/2025 1,169 0.50% 500,000.00 465,380.00 3137EAEX3 0.375% 588FHLMC 10/20/2020 498,322.59 09/23/2025 1,211 0.48% 500,000.00 462,025.00 05580AXF6 0.500% 613BMW Bank 09/25/2020 248,000.00 09/25/2025 1,213 0.50% 248,000.00 229,148.02 91282CAZ4 0.375% 313U.S. Treasury 07/22/2021 991,558.11 11/30/2025 1,279 0.62% 1,000,000.00 919,730.00 91282CBH3 0.375% 460U.S. Treasury 02/25/2021 495,855.33 01/31/2026 1,341 0.60% 500,000.00 457,950.00 856283S98 1.000% 399State Bank of India 04/27/2021 248,000.00 04/27/2026 1,427 1.00% 248,000.00 230,728.61 91282CCF6 0.750% 313U.S. Treasury 07/22/2021 1,001,962.39 05/31/2026 1,461 0.70% 1,000,000.00 922,150.00 Run Date: 6/2/2022 - 1:09 PM
Amortizing
20Lynwood Successor Agency - Page 64 of 93
Maturity Report
City of Lynwood May 31, 2022
CUSIP Date
Purchase
Value
Book
Rate
Coupon
Date
Maturity
Par
Remaining
Term Value
Market
YTMIssuer
Days to
Maturity
Book
89235MLC3 0.950% 320Toyota Financial Savings Bank 07/15/2021 248,000.00 07/15/2026 1,506 0.95% 248,000.00 229,379.22 90348JR93 0.950% 293UBS Bank USA 08/11/2021 248,000.00 08/11/2026 1,533 0.95% 248,000.00 228,973.23 91282CCZ2 0.875% 224U.S. Treasury 10/19/2021 493,823.25 09/30/2026 1,583 1.17% 500,000.00 460,370.00 3130AQEC3 1.370% 152FHLB 12/30/2021 500,000.00 12/30/2026 1,674 1.37% 500,000.00 472,890.00 808513BW4 3.300% 49Charles Schwab 04/12/2022 249,423.73 04/01/2027 1,766 3.35% 250,000.00 247,510.00 3130ARTT8 3.000% 12FHLB 05/19/2022 600,000.00 05/19/2027 1,814 3.00% 600,000.00 603,030.00 Net Maturities and Averages 26,254,319.22 568 1.07% 25,667,117.13 26,209,933.31 Run Date: 6/2/2022 - 1:09 PM
Amortizing
21Lynwood Successor Agency - Page 65 of 93
Income Earned
City of Lynwood May 01, 2022 - May 31, 2022
CUSIP Value
Ending Par
Date
Maturity
Book Value
Beginning
Value
Ending Book
Accrued
Beginning
/Purchased
Int.Received
Accrued
Ending
Issuer Earned
Interest Amortization/
Accretion Earned
Net Income
Certificates of Deposit
27002YEM4 05/10/2022 0.00EagleBank 248,000.00 0.00 370.98 529.97 0.00 158.99 0.00 158.99 33847E2J5 06/13/2022 248,000.00Flagstar Bank 248,000.00 248,000.00 2,378.08 0.00 2,904.66 526.58 0.00 526.58 1404203Z1 08/02/2022 248,000.00Capital One Bank USA 247,969.98 247,979.88 1,375.21 0.00 1,859.66 484.45 9.90 494.35 795450D36 08/23/2022 248,000.00Sallie Mae Bank 247,963.28 247,973.18 1,069.80 0.00 1,564.78 494.98 9.90 504.88 61747MF63 01/11/2023 248,000.00Morgan Stanley Bank 247,918.25 247,928.15 1,980.60 0.00 2,538.77 558.17 9.90 568.07 59013J5Z8 02/21/2023 248,000.00Merrick Bank 247,905.82 247,915.65 295.90 682.85 318.66 705.61 9.83 715.44 20033AZK5 06/29/2023 248,000.00Comenity Capital Bank 247,866.66 247,876.39 44.84 672.66 67.27 695.09 9.73 704.82 38148PR33 07/06/2023 248,000.00Goldman Sachs Bank 247,865.42 247,875.08 2,578.52 0.00 3,273.60 695.08 9.66 704.74 949763TF3 08/30/2023 248,000.00Wells Fargo Bank NA 247,847.79 247,857.48 717.50 1,367.74 44.84 695.08 9.69 704.77 29278TLY4 09/27/2023 248,000.00EnerBank 247,831.81 247,841.93 54.36 407.67 67.95 421.26 10.12 431.38 17312Q3B3 02/27/2024 248,000.00Citibank 247,790.31 247,800.04 1,284.16 0.00 1,916.05 631.89 9.73 641.62 32100LCB9 09/13/2024 248,000.00First Missouri State Bank 248,000.00 248,000.00 615.92 0.00 1,005.59 389.67 0.00 389.67 05580AXF6 09/25/2025 248,000.00BMW Bank 248,000.00 248,000.00 125.70 0.00 231.01 105.31 0.00 105.31 856283S98 04/27/2026 248,000.00State Bank of India 248,000.00 248,000.00 27.18 0.00 237.81 210.63 0.00 210.63 89235MLC3 07/15/2026 248,000.00Toyota Financial Savings Bank 248,000.00 248,000.00 684.21 0.00 884.31 200.10 0.00 200.10 90348JR93 08/11/2026 248,000.00UBS Bank USA 248,000.00 248,000.00 129.10 193.64 135.55 200.09 0.00 200.09 Certificates of Deposit - Sub Total 3,720,000.00 3,966,959.31 3,719,047.77 13,732.06 3,854.53 17,050.51 7,172.98 88.46 7,261.44 Commercial Paper
78015DG61 07/06/2022 350,000.00Royal Bank of Canada, NY 349,786.09 349,886.56 0.00 0.00 0.00 0.00 100.47 100.47 Commercial Paper - Sub Total
350,000.00 349,786.09 349,886.56 0.00 0.00 0.00 0.00 100.47 100.47 Corporate Bonds
46849LSW2 06/27/2022 250,000.00Jackson National Life 249,929.59 249,967.88 2,152.78 0.00 2,673.61 520.83 38.29 559.12 90331HNV1 07/24/2023 250,000.00US Bank 250,927.69 250,862.92 2,290.28 0.00 2,998.61 708.33 -64.77 643.56 89236TFS9 01/08/2024 250,000.00Toyota Motor Credit 251,231.63 251,170.86 2,628.82 0.00 3,326.74 697.92 -60.77 637.15 46625HJX9 05/13/2024 500,000.00JPMorgan Chase & Co 506,155.16 505,894.85 8,458.33 9,062.50 906.25 1,510.42 -260.31 1,250.11 64952WDL4 01/22/2025 250,000.00New York Life 249,510.36 249,525.82 1,375.00 0.00 1,791.67 416.67 15.46 432.13 30231GBH4 03/19/2025 250,000.00Exxon Mobil 263,848.77 263,435.57 872.67 0.00 1,496.00 623.33 -413.20 210.13 808513BW4 04/01/2027 250,000.00Charles Schwab 249,413.46 249,423.73 687.50 0.00 1,375.00 687.50 10.27 697.77 Corporate Bonds - Sub Total
2,000,000.00 2,021,016.67 2,020,281.63 18,465.38 9,062.50 14,567.88 5,165.00 -735.04 4,429.96 LAIF
9819499 06/01/2022 9,545,267.55LAIF 9,545,267.55 9,545,267.55 0.00 0.00 0.00 0.00 0.00 0.00 Run Date: 6/2/2022 - 1:09 PM
Amortizing
24Lynwood Successor Agency - Page 66 of 93
Income Earned
City of Lynwood May 01, 2022 - May 31, 2022
CUSIP Value
Ending Par
Date
Maturity
Book Value
Beginning
Value
Ending Book
Accrued
Beginning
/Purchased
Int.Received
Accrued
Ending
Issuer Earned
Interest Amortization/
Accretion Earned
Net Income
LAIF - Sub Total 9,545,267.55 9,545,267.55 9,545,267.55 0.00 0.00 0.00 0.00 0.00 0.00 Money Market Funds
FGTXX 06/01/2022 294,665.76Goldman Sachs Govt MMF 618,649.97 294,665.76 98.76 98.76 0.00 0.00 0.00 0.00 Money Market Funds - Sub Total 294,665.76 618,649.97 294,665.76 98.76 98.76 0.00 0.00 0.00 0.00 U.S. Agencies
3135G0T78 10/05/2022 500,000.00FNMA 499,769.05 499,813.75 722.22 0.00 1,555.56 833.34 44.70 878.04 3133EKTV8 07/01/2024 500,000.00FFCB 499,956.59 499,958.31 3,166.67 0.00 3,958.33 791.66 1.72 793.38 3133EK3B0 10/16/2024 200,000.00FFCB 199,197.23 199,225.32 125.00 0.00 375.00 250.00 28.09 278.09 3130A4CH3 03/14/2025 500,000.00FHLB 526,759.69 525,957.41 1,550.35 0.00 2,539.93 989.58 -802.27 187.31 3136G4H71 08/12/2025 500,000.00FNMA 500,000.00 500,000.00 506.94 0.00 715.28 208.34 0.00 208.34 3137EAEX3 09/23/2025 500,000.00FHLMC 498,278.97 498,322.59 197.92 0.00 354.17 156.25 43.62 199.87 3130AQEC3 12/30/2026 500,000.00FHLB 500,000.00 500,000.00 2,302.36 0.00 2,873.19 570.83 0.00 570.83 3130ARTT8 05/19/2027 600,000.00FHLB 0.00 600,000.00 0.00 0.00 600.00 600.00 0.00 600.00 U.S. Agencies - Sub Total
3,800,000.00 3,223,961.53 3,823,277.39 8,571.46 0.00 12,971.46 4,400.00 -684.14 3,715.86 U.S. Treasuries
912828ZD5 03/15/2023 500,000.00U.S. Treasury 501,612.77 501,456.05 319.29 0.00 529.89 210.60 -156.73 53.87 91282CAW1 11/15/2023 1,000,000.00U.S. Treasury 999,973.96 999,975.39 1,153.31 1,250.00 115.49 212.18 1.43 213.61 91282CBV2 04/15/2024 500,000.00U.S. Treasury 496,979.37 497,110.15 81.97 0.00 240.78 158.81 130.78 289.59 912828YV6 11/30/2024 1,000,000.00U.S. Treasury 1,027,527.60 1,026,624.58 6,263.74 7,500.00 40.98 1,277.24 -903.02 374.22 912828ZT0 05/31/2025 500,000.00U.S. Treasury 493,344.22 493,527.30 521.98 625.00 3.42 106.44 183.08 289.52 91282CAZ4 11/30/2025 1,000,000.00U.S. Treasury 991,353.50 991,558.11 1,565.93 1,875.00 10.25 319.32 204.61 523.93 91282CBH3 01/31/2026 500,000.00U.S. Treasury 495,759.51 495,855.33 466.16 0.00 626.73 160.57 95.81 256.38 91282CCF6 05/31/2026 1,000,000.00U.S. Treasury 1,002,004.03 1,001,962.39 3,131.87 3,750.00 20.49 638.62 -41.64 596.98 91282CCZ2 09/30/2026 500,000.00U.S. Treasury 493,702.29 493,823.25 370.56 0.00 741.12 370.56 120.96 491.52 U.S. Treasuries - Sub Total
6,500,000.00 6,502,257.27 6,501,892.55 13,874.81 15,000.00 2,329.15 3,454.34 -364.71 3,089.63 26,209,933.31Grand Total 26,227,898.39 26,254,319.22 54,742.47 28,015.79 46,919.00 20,192.32 -1,594.96 18,597.36 Run Date: 6/2/2022 - 1:09 PM
Amortizing
25Lynwood Successor Agency - Page 67 of 93
Realized Gains and Losses
City of Lynwood May 01, 2022 - May 31, 2022
Par Value Sale Date Days Held Maturity/Sales RealizedCUSIP Coupon Rate Maturity Date Book Value Proceeds Gain/LossPurchase Date TermIssuer Certificates of Deposit
27002YEM4 248,000.0005/10/2019 05/10/2022 1,096 248,000.00 0.00 248,000.00 05/10/2022 1,096EagleBank 2.600%
Total Certificates of Deposit 0.00 248,000.00 248,000.00 Grand Total 0.00 248,000.00 248,000.00
Run Date: 6/2/2022 - 1:09 PM
Amortizing
26Lynwood Successor Agency - Page 68 of 93
Transaction Report
City of Lynwood May 01, 2022 - May 31, 2022
Transaction Transaction Security Security Maturity
Date Type ID Description Date Purchases Redemptions Interest Deposits Withdrawals 05/02/2022 Interest 949763TF3 WFC 3.3 08/30/23 08/30/2023 - - 695.08 - - 05/03/2022 Interest FGTXX GSGF - - 98.76 - -
05/10/2022 Interest 27002YEM4 EGBN 2.6 05/10/22 05/10/2022 - - 529.97 - - 05/10/2022 Maturity 27002YEM4 EGBN 2.6 05/10/22 05/10/2022 - 248,000.00 - - - 05/11/2022 Interest 90348JR93 UBS 0.95 08/11/26 08/11/2026 - - 193.64 - - 05/13/2022 Interest 46625HJX9 JPM 3 5/8 05/13/24 05/13/2024 - - 9,062.50 - - 05/16/2022 Interest 91282CAW1 T 0 1/4 11/15/23 11/15/2023 - - 1,250.00 - - 05/18/2022 Interest 59013J5Z8 MERICK 3.35 02/21/23 02/21/2023 - - 682.85 - - 05/19/2022 Purchase 3130ARTT8 FHLB 3 05/19/27 05/19/2027 -600,000.00 - - - - 05/27/2022 Interest 29278TLY4 CMS 2 09/27/23 09/27/2023 - - 407.67 - - 05/31/2022 Interest 912828YV6 T 1 1/2 11/30/24 11/30/2024 - - 7,500.00 - - 05/31/2022 Interest 20033AZK5 ADS 3.3 06/29/23 06/29/2023 - - 672.66 - - 05/31/2022 Interest 949763TF3 WFC 3.3 08/30/23 08/30/2023 - - 672.66 - - 05/31/2022 Interest 912828ZT0 T 0 1/4 05/31/25 05/31/2025 - - 625.00 - - 05/31/2022 Interest 91282CAZ4 T 0 3/8 11/30/25 11/30/2025 - - 1,875.00 - - 05/31/2022 Interest 91282CCF6 T 0 3/4 05/31/26 05/31/2026 - - 3,750.00 - - Grand Total: -600,000.00 248,000.00 28,015.79 0.00 0.00 Run Date: 6/2/2022 - 1:09 PM
Amortizing
27Lynwood Successor Agency - Page 69 of 93
Source:CNBC

That was the biggest rate increase in 22 years and came as the Fed is trying to pull down inflation running at a 40-year high.

Market pricing currently sees the Fed moving to a policy rate around 2.5%-

Lynwood Successor Agency - Page 70 of 93
Source:CNBC

Along with their resolve to bring down inflation came concerns about financial stability.

Lynwood Successor Agency - Page 71 of 93
Monthly Economic and Market Update
May 2022
Lynwood Successor Agency - Page 72 of 93
Economic and Market Update
*Estimates for the current quarter/month, some data are lagged Sources: FHN Main Street and Bloomberg Case-Shiller Home Prices YOY* 21.2% 20.3% 0.9%
Consumer Confidence 106.4 108.6 (2.2)
Gold (per ounce) $1,837.35 $1,896.93 ($59.58)
Dollar Index 101.75 102.96 (1.21)
U.S. Avg Regular Unleaded $4.67 $4.19 $0.48
Retail Sales YOY* 9.3% 8.2% 1.1%
S&P 500 4,132 4,132 0.0%
Consumer Price Index YOY* 8.2% 8.3% (0.1%)
1-5 Yr A-AAA Corporate Spread 0.64% 0.68% (0.04%)
Dow Jones 32,990 32,977 0.0%
30 Year Mortgage Rate 5.35% 5.42% (0.07%)
1-5 Yr Agency Spread 0.03% 0.04% (0.01%)
10 Year T-Note 2.85% 2.94% (0.09%)
U.S. Fed Debt Avg Yield* 1.55% 1.53% 0.02%
3 Year T-Note 2.73% 2.89% (0.16%)
5 Year T-Note 2.82% 2.96% (0.14%)
2 Year T-Note 2.56% 2.72% (0.16%)
3 Month T-Bill 1.06% 0.83% 0.22%
Labor Force Participation 62.3% 62.2% 0.1%
Effective Fed Funds Rate 0.83% 0.33% 0.50%
U.S. Payrolls Monthly Change 390,000 436,000 (46,000)
Unemployment Rate 3.6% 3.6% 0.0%
5/31/2022
Item 5/31/2022 4/30/2022 Change
2 Lynwood Successor Agency - Page 73 of 93
Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
Estimate: Bloomberg's Survey of Economists
As of: 5/31/2022
5/31/2022

3.2 2.9
-1.4

5.2 4.7

1.8 3.3

2.3 1.3

0.6 2.4

1.2 2.4

2.0 1.9

2.3 2.9

3.8 3.1

3.4 1.9

0.9 2.4

3.2 2.8

1.9 -5.1
-31.2

33.8 4.5

6.3 6.7

2.3 6.9
-1.5

3.0 2.7

2.1 1.9
-45
-35
-25
-15
-5
5 15
25 35
45 Q3 2013
Q4 2013
Q1 2014
Q2 2014
Q3 2014
Q4 2014
Q1 2015
Q2 2015
Q3 2015
Q4 2015
Q1 2016
Q2 2016
Q3 2016
Q4 2016
Q1 2017
Q2 2017
Q3 2017
Q4 2017
Q1 2018
Q2 2018
Q3 2018
Q4 2018
Q1 2019
Q2 2019
Q3 2019
Q4 2019
Q1 2020
Q2 2020
Q3 2020
Q4 2020
Q1 2021
Q2 2021
Q3 2021
Q4 2021
Q1 2022
Q2 2022
Q3 2022
Q4 2022
Q1 2023
Percent
U.S. GDP (Quarter over Quarter Annualized)*
Estimates
3 Lynwood Successor Agency - Page 74 of 93
Economic and Market Update
Source: Bureau of Labor Statistics
12 Month Average Job Change 545,083
5/31/2022
-22
-20
-18
-16
-14
-12
-10
-8
-6
-4
-2
0 2
4 6
Nov-17
Feb-18
May-18
Aug-18
Nov-18
Feb-19
May-19
Aug-19
Nov-19
Feb-20
May-20
Aug-20
Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
May-22
Millions
U.S. Monthly Non-Farm Payrolls Change
-25.0
-20.0
-15.0
-10.0
-5.0

0.0 5.0

10.0 15.0

20.0 Nov-17
Feb-18
May-18
Aug-18
Nov-18
Feb-19
May-19
Aug-19
Nov-19
Feb-20
May-20
Aug-20
Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
May-22
Millions
U.S. Monthly Non-Farm Payrolls YOY Change
4 Lynwood Successor Agency - Page 75 of 93
Economic and Market Update
Source: Bureau of Labor Statistics
5/31/2022
0 5
10 15
20 25
30 Nov-17
Jan-18
Mar-18
May-18
Jul-18
Sep-18
Nov-18
Jan-19
Mar-19
May-19
Jul-19
Sep-19
Nov-19
Jan-20
Mar-20
May-20
Jul-20
Sep-20
Nov-20
Jan-21
Mar-21
May-21
Jul-21
Sep-21
Nov-21
Jan-22
Mar-22
May-22
Percent
Unemployment Rates
U.S.A Nevada California Idaho Washington Hawaii Oregon Utah 5 Lynwood Successor Agency - Page 76 of 93
Economic and Market Update
Source: Bureau of Labor Statistics
5/31/2022
128
130
132
134
136
138
140
142
144
146
148
150
152
154
May-12
Dec-12
Jul-13
Feb-14
Sep-14
Apr-15
Nov-15
Jun-16
Jan-17
Aug-17
Mar-18
Oct-18
May-19
Dec-19
Jul-20
Feb-21
Sep-21
Apr-22
Millions
U.S. Number of Employed
Full-Time and Part-TIme

60.0 60.5

61.0 61.5

62.0 62.5

63.0 63.5

64.0 May-12
Dec-12
Jul-13
Feb-14
Sep-14
Apr-15
Nov-15
Jun-16
Jan-17
Aug-17
Mar-18
Oct-18
May-19
Dec-19
Jul-20
Feb-21
Sep-21
Apr-22
Percent
U.S. Labor Force Participation Rate
6 Lynwood Successor Agency - Page 77 of 93
Economic and Market Update
Source: Department of Labor and Bloomberg
5/31/2022
Weekly Initial Jobless Claims is the actual number of people who have filed for Unemployment benefits for the first time. The following five eligibility criteria must be met in order to file for unemployment benefits: 1. Meet the requirements of time worked during a 1 year period (full time or not). 2. Become unemployed through no fault of your own (cannot be fired). 3. Must be able to work; no physical or mental holdbacks. 4. Must be available for work. 5. Must be actively seeking work.

0.0 0.5

1.0 1.5

2.0 2.5

3.0 3.5

4.0 4.5

5.0 5.5

6.0 1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
Millions
Weekly Initial Jobless Claims
(4 Week Moving Average)
7 Lynwood Successor Agency - Page 78 of 93
Economic and Market Update
*Real: Inflation Adjusted
Source: U.S. Census Bureau Source: Conference Board
5/31/2022
-30
-20
-10
0 10
20 30
40 50
60 Nov-17
Feb-18
May-18
Aug-18
Nov-18
Feb-19
May-19
Aug-19
Nov-19
Feb-20
May-20
Aug-20
Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
Percent
U.S. Real* Retail Sales YOY % Change
40 50
60 70
80 90
100
110
120
130
140
Nov-11
May-12
Nov-12
May-13
Nov-13
May-14
Nov-14
May-15
Nov-15
May-16
Nov-16
May-17
Nov-17
May-18
Nov-18
May-19
Nov-19
May-20
Nov-20
May-21
Nov-21
May-22
Index Value
U.S. Consumer Confidence
8 Lynwood Successor Agency - Page 79 of 93
Economic and Market Update
CPIX: Consumer Price Index, excluding food and energy PCEC: Personal Consumption Expenditure Core Source: Bureau of Labor Statistics and Bureau of Economic Analysis 5/31/2022

0.0 1.0

2.0 3.0

4.0 5.0

6.0 7.0

8.0 9.0
Nov-17
Feb-18
May-18
Aug-18
Nov-18
Feb-19
May-19
Aug-19
Nov-19
Feb-20
May-20
Aug-20
Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
Percent
CPI and CPIX YOY % Change
CPI
CPIX

0.0 1.0

2.0 3.0

4.0 5.0

6.0 7.0
Nov-17
Feb-18
May-18
Aug-18
Nov-18
Feb-19
May-19
Aug-19
Nov-19
Feb-20
May-20
Aug-20
Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
Percent
PCE and PCEC YOY % Change
PCE
PCEC
9 Lynwood Successor Agency - Page 80 of 93
Economic and Market Update
Sources: New (U.S. Census Bureau),Existing (National Assoc. of Realtors) Source: Case-Shiller Seasonally Adjusted Annual Rate
5/31/2022
0 2
4 6
8 10
12 14
16 18
20 22
24 Dec-13
May-14
Oct-14
Mar-15
Aug-15
Jan-16
Jun-16
Nov-16
Apr-17
Sep-17
Feb-18
Jul-18
Dec-18
May-19
Oct-19
Mar-20
Aug-20
Jan-21
Jun-21
Nov-21
YOY Percent
Case-Shiller 20 City U.S. Home Price Index
YOY % Increase
200
300
400
500
600
700
800
900
1,000
1,100

3.0 3.5

4.0 4.5

5.0 5.5

6.0 6.5

7.0 Nov-13
May-14
Nov-14
May-15
Nov-15
May-16
Nov-16
May-17
Nov-17
May-18
Nov-18
May-19
Nov-19
May-20
Nov-20
May-21
Nov-21
New-Thousands
Existing-Millions
U.S. New and Existing Home Sales
Existing-Left
New-Right
10 Lynwood Successor Agency - Page 81 of 93
Economic and Market Update
Source: U.S. Treasury
5/31/2022
$12
$13
$14
$15
$16
$17
$18
$19
$20
$21
$22
$23
$24
$25
$26
$27
$28
$29
$30
$31
$32
May-12
Nov-12
May-13
Nov-13
May-14
Nov-14
May-15
Nov-15
May-16
Nov-16
May-17
Nov-17
May-18
Nov-18
May-19
Nov-19
May-20
Nov-20
May-21
Nov-21
Trillions
U.S. Federal Debt Outstanding

1.3 1.5

1.7 1.9

2.1 2.3

2.5 2.7
May-12
Nov-12
May-13
Nov-13
May-14
Nov-14
May-15
Nov-15
May-16
Nov-16
May-17
Nov-17
May-18
Nov-18
May-19
Nov-19
May-20
Nov-20
May-21
Nov-21
Percent
U.S. Treasury Interest Bearing Debt Avg Rate
11 Lynwood Successor Agency - Page 82 of 93
Economic and Market Update
Fed Funds Anticipated Rate from the March 17, 2022 FOMC Meeting Source: Bloomberg
5/31/2022

0.00 0.50

1.00 1.50

2.00 2.50

3.00 3.50
Jun-2022
Jul-2022
Aug-2022
Sep-2022
Oct-2022
Nov-2022
Dec-2022
Jan-2023
Feb-2023
Mar-2023
Apr-2023
May-2023
Jun-2023
Jul-2023
Aug-2023
Sep-2023
Oct-2023
Nov-2023
Dec-2023
Jan-2024
Feb-2024
Mar-2024
Apr-2024
May-2024
Jun-2024
Jul-2024
Aug-2024
Sep-2024
Oct-2024
Nov-2024
Dec-2024
Jan-2025
Feb-2025
Mar-2025
Apr-2025
May-2025
Percent
Fed Funds FuturesFed's Anticipated Rates
Fed Funds Futures
12 Lynwood Successor Agency - Page 83 of 93
Economic and Market Update
Source: Bloomberg
Figures may not total due to rounding
5/31/2022
3Y 2.73 2.89 -0.16
30Y 3.05 3.00 0.05
5Y 2.82 2.96 -0.14
10Y

1.06 2.85 2.94 -0.09
Change4/29/225/31/22
3M
Maturity
-0.162.722.562Y
-0.002.072.071Y

0.161.411.576M

0.220.83

0.0 0.5

1.0 1.5

2.0 2.5

3.0 3.5
3M 6M 1Y 2Y 3Yr 5Y 10Y 30Y
Percent
U.S. Treasury Yield Curve Change
5/31/22
4/29/22
-20
-15
-10
-5
0 5
10 15
20 25
3M
6M
1Y
2Y
3Yr
5Y
10Y
30Y
Basis Points
Basis Point Change
13 Lynwood Successor Agency - Page 84 of 93
Economic and Market Update
Source: Bloomberg
5/31/2022

0.00 0.25

0.50 0.75

1.00 1.25

1.50 1.75

2.00 2.25

0.00 0.25

0.50 0.75

1.00 1.25

1.50 1.75

2.00 2.25

2.50 2.75

3.00 3.25
May-17
Aug-17
Nov-17
Feb-18
May-18
Aug-18
Nov-18
Feb-19
May-19
Aug-19
Nov-19
Feb-20
May-20
Aug-20
Nov-20
Feb-21
May-21
Aug-21
Nov-21
Feb-22
May-22
Percent
U.S. Treasury Yields: 2Y and 5Y
5Y
2Y
14 Lynwood Successor Agency - Page 85 of 93
Economic and Market Update
Source: Bloomberg
5/31/2022
0 1
2 3
4 5
6 7
8 9
10 11
12 13
14 15
16 17
18 19
20 21
Jan-54
Jan-56
Jan-58
Jan-60
Jan-62
Jan-64
Jan-66
Jan-68
Jan-70
Jan-72
Jan-74
Jan-76
Jan-78
Jan-80
Jan-82
Jan-84
Jan-86
Jan-88
Jan-90
Jan-92
Jan-94
Jan-96
Jan-98
Jan-00
Jan-02
Jan-04
Jan-06
Jan-08
Jan-10
Jan-12
Jan-14
Jan-16
Jan-18
Jan-20
Jan-22
Percent
U.S. Treasury Yields 2Yr and 5Yr - Fed Funds Target Rate 5Yr
2Yr
Fed Funds
15 Lynwood Successor Agency - Page 86 of 93
Economic and Market Update
Source: Bloomberg
5/31/2022
Global Treasury Rates
2 Year Yields 5 Year Yields 10 Year Yields
-0.08%

0.02%

0.34%

0.49%

0.60%

0.72%

0.99%

1.57%

2.47%

2.56%

2.66%
-4.0% -2.0% 0.0% 2.0% 4.0%
Japan
Switzlnd
France
Germany
Portugal
Spain
Italy
England
Australia
USA
Canada

0.00%

0.40%

0.83%

1.06%

1.49%

1.53%

1.68%

2.26%

2.74%

2.82%

3.07%

0.0% 2.0% 4.0%
Japan
Switzlnd
Germany
France
Portugal
Spain
England
Italy
Canada
USA
Australia

0.24%

0.86%

1.12%

1.64%

2.10%

2.22%

2.25%

2.84%

2.89%

3.12%

3.35%

0.0% 1.0% 2.0% 3.0% 4.0%
Japan
Switzlnd
Germany
France
England
Spain
Portugal
USA
Canada
Italy
Australia
16 Lynwood Successor Agency - Page 87 of 93
Economic and Market Update
ICE BofAML Index (option adjusted spread vs. Treasury) ICE BofAML Index (option adjusted spread vs. Treasury) 1-5Yr Non-Callable Agency (GVPB) Corporate A-AAA Excluding Yankee (CVAC) Source: ICE BofAML Indices
5/31/2022
Current Spread is 3 Current Spread is 64
-20
0 20
40 60
80 100
120
140
160
180
200
Apr-08
Apr-09
Apr-10
Apr-11
Apr-12
Apr-13
Apr-14
Apr-15
Apr-16
Apr-17
Apr-18
Apr-19
Apr-20
Apr-21
Apr-22
Basis Points
Spread: 1-5Yr Agency vs Treasury
0 50
100
150
200
250
300
350
400
450
500
550
600
650
Apr-08
Apr-09
Apr-10
Apr-11
Apr-12
Apr-13
Apr-14
Apr-15
Apr-16
Apr-17
Apr-18
Apr-19
Apr-20
Apr-21
Apr-22
Basis Points
Spread: 1-5Yr A-AAA Corporate vs Treasury
17 Lynwood Successor Agency - Page 88 of 93
Economic and Market Update
*ICE BofAML Index (option adjusted spread vs. Treasury) *ICE BofAML Index (option adjusted spread vs. Treasury) AAA Rated ABS (R0A1) CMO Agency 0-3Yr PAC (CM1P)
Source: ICE BofAML Indices
5/31/2022
Current Spread is 101 Current Spread is 43
0 50
100
150
200
250
300
350
400
450
500
550
600
650
700
750
800
Apr-08
Apr-09
Apr-10
Apr-11
Apr-12
Apr-13
Apr-14
Apr-15
Apr-16
Apr-17
Apr-18
Apr-19
Apr-20
Apr-21
Apr-22
Basis Points
Spread: AAA Asset Backed vs Treasury
-150
-100
-50
0 50
100
150
200
250
300
Apr-08
Apr-09
Apr-10
Apr-11
Apr-12
Apr-13
Apr-14
Apr-15
Apr-16
Apr-17
Apr-18
Apr-19
Apr-20
Apr-21
Apr-22
Basis Points
Spread: 0-3Yr Agency CMO vs Treasury
18 Lynwood Successor Agency - Page 89 of 93
Economic and Market Update
Source: Bloomberg
5/31/2022
-4.7
-3.2
-2.3
-1.6 -1.3 -1.0
-0.2

0.1 0.2 0.4 0.5 0.5 0.6 0.6 0.8 0.8 0.9

1.5 1.9 2.0 2.2

10.8 (6)
(4)
(2)
0 2
4 6
8 10
12 Percent
Selected Sector Monthly Total Returns
19 Lynwood Successor Agency - Page 90 of 93
Economic and Market Update
Source: Bloomberg
5/31/2022
-22.4
-16.7 -16.1 -14.4 -10.5 -8.9 -8.8 -8.1 -7.2 -6.6 -5.4 -5.0 -3.8 -3.1 -2.8 -1.5 -0.4 -0.2

2.0 12.3

47.4 88.2
(40)
(20)
0 20
40 60
80 100
Percent
Selected Sector Year-Over-Year Total Returns
20 Lynwood Successor Agency - Page 91 of 93
Economic and Market Update
Source: Bloomberg, FHN Main Street
5/31/2022

2.50 2.60

2.70 2.80

2.90 3.00

16.6% Month-Over-
Month
Consumer and
Producer Price Indices
Show Higher Than
Expected Inflation
Hawkish Comments
From Fed President
Waller Push Yields
Higher
21 Lynwood Successor Agency - Page 92 of 93
Economic and Market Update
NI USS
Source: Bloomberg, FHN Main Street
5/31/2022
29,500
30,000
30,500
31,000
31,500
32,000
32,500
33,000
33,500
34,000
34,500
4/30/22
5/1/22
5/2/22
5/3/22
5/4/22
5/5/22
5/6/22
5/7/22
5/8/22
5/9/22
5/10/22
5/11/22
5/12/22
5/13/22
5/14/22
5/15/22
5/16/22
5/17/22
5/18/22
5/19/22
5/20/22
5/21/22
5/22/22
5/23/22
5/24/22
5/25/22
5/26/22
5/27/22
5/28/22
5/29/22
5/30/22
5/31/22
Dow Jones Industrial Average
Worries Deepen, as
75bps Hike Is Still On
The Table Target Trims Profit
Forecasts, Causing Worst
Drop Since 1987
Retailers Report Strong
Earnings
Nasdaq Slides
5%
Strong Retail
Sales
Fed Chair Powell
Tames Rate Hike
Concerns
President Biden
Signals He'll
Reconsider China
Tariffs
Stocks Experience Best Weekly
Rally Since Nov 2022, as
Investors Become Optimistic
22 Lynwood Successor Agency - Page 93 of 93
This Agenda contains a brief general description of each item to be considered. Copies of the Staff reports or other written documentation relating to each item of business referred to on the Agenda are on file in the Office of the City Clerk and are available for public inspection. Any person who has a question concerning any of the agenda items may call the City Manager at (310) 603-0220, ext. 200.

Procedures for Addressing the Council

IN ORDER TO EXPEDITE CITY COUNCIL BUSINESS, WE ASK THAT ALL PERSONS WISHING TO ADDRESS THE

COUNCIL SUBMIT YOUR COMMENTS IN ADVANCE TO
[email protected]

OR FILL OUT A FORM

AGENDA
Lynwood Housing Authority

TO BE HELD ON

June 21, 2022

1. CALL TO ORDER

2. CERTIFICATION OF AGENDA POSTING BY SECRETARY

3. ROLL CALL OF MEMBERS
Jorge Casanova, Chair
Jose Luis Solache
, Vice Chair
Oscar Flores, Commissioner
Marisela Santana, Commissioner
Rita Soto, Commissioner

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

THIS PORTION PROVIDES AN OPPORTUNITY FOR THE PUBLIC TO ADDRESS THE LYNWOOD HOUSING

AUTHORITY ON ITEMS WITHIN THE JURISDICTION OF THE LYNWOOD HOUSING AUTHORITY AND NOT LISTED ON THE AGENDA. IF AN ITEM IS NOT ON THE AGENDA, THERE SHOULD BE NO SUBSTANTIAL

DISCUSSION OF THE ISSUE BY LYNWOOD HOUSING AUTHORITY, BUT LYNWOOD HOUSING AUTHORITY MAY REFER THE MATTER TO STAFF OR SCHEDULE SUBSTANTIVE DISCUSSION FOR A FUTURE MEETING. (The Ralph M. Brown Act, Government Code Section 54954.2 (a).) Lynwood Housing Authority - Page 1 of 31

CONSENT CALENDAR

ALL MATTERS LISTED UNDER THE CONSENT CALENDAR WILL BE ACTED UPON BY ONE MOTION AFFIRMING THE ACTION RECOMMENDED ON THE AGENDA. THERE WILL BE NO SEPARATE DISCUSSION ON

THESE ITEMS PRIOR TO VOTING UNLESS MEMBERS OF THE COUNCIL OR STAFF REQUEST SPECIFIC ITEMS TO BE REMOVED FROM THE CONSENT CALENDAR FOR SEPARATE ACTION.

4. APPROVAL OF THE WARRANT REGISTER-LHA
Comments:

City of Lynwood Housing Authority warrant register dated June 21, 2022 for FY 2021-2022. (FIN)

Recommendation:

Staff respectfully recommends that the Lynwood Housing Authority approve the warrant register dated June 21, 2022 for FY 2021-2022.

5. PREVIOUS MEETING MINUTES
Comments:

Approving previous meeting minutes for Lynwood Housing Authority: (CC)

January 4, 2022
January 18, 2022
February 1, 2022
February 15, 2022
March 1, 2022
March 15, 2022
April 5, 2022
April 19, 2022
May 3, 2022
May 17, 2022

Recommendation:

Staff recommends that the Lynwood Housing Authority approve the following minutes:

January 4, 2022
January 18, 2022
February 1, 2022
February 15, 2022
March 1, 2022
March 15, 2022
April 5, 2022
April 19, 2022
May 3, 2022
May 17, 2022

ADJOURNMENT
THE LYNWOOD HOUSING AUTHORITY MEETINGS WILL BE POSTED AS NEEDED. THE

NEXT MEETING WILL BE HELD IN THE COUNCIL CHAMBERS OF THE CITY HALL ANNEX, 11350 BULLIS ROAD, CITY OF LYNWOOD, CALIFORNIA.

Lynwood Housing Authority - Page 2 of 31
Agenda Item # 4.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Harry Wong, Director of Finance & Administration
Lilly Hampton, Senior Accounting Technician

SUBJECT:

APPROVAL OF THE WARRANT REGISTER-LHA
Recommendation:

Staff respectfully recommends that the Lynwood Housing Authority approve the warrant register dated June 21, 2022 for FY 2021-2022.

Background:

N/A
Discussion and Analysis:

N/A
Fiscal Impact:

FY 2021-2022
Coordinated With:

City Manager
City Attorney
Lynwood Housing Authority - Page 3 of 31
ATTACHMENTS:

Description
WARRANT RUN 6 21 2022-LHA

RESOLUTION ITEM
Lynwood Housing Authority - Page 4 of 31
vchlist
05/26/2022
Bank code :

Voucher
10008
10009
4:40:03PM
lhaus2
Date Vendor
Electronic Financial Transaction List
Lynwood Housing Authority
Invoice PO#
4/5/2022 012364 LYNWOOD FAMILY APARTMENTS, LP 7 11-002086 4/21/2022 012364 LYNWOOD FAMILY APARTMENTS, LP 8 11-002087 2 Vouchers for bank code : lhaus2
2 Vouchers in this report
Page: 1
Description/Account Amount
PROJECT IMPROVEMENT COST 535,009 .00
Total: 535,009.00
PROJECT IMPROVEMENT COST 399,309.00
Total: 399,309.00
Bank total: 934,318.00
Total vouchers: 934,318.00
Page: 1
Lynwood Housing Authority - Page 5 of 31
vchlist
05/26/2022
Bank code:

Voucher
3:47:59PM
lhaus2
Date Vendor
10278 6/7/2022 012487 KEALOHA CORP .
1 Vouchers for bank code :
1 Vouchers in this report
lhaus2
Check List
Lynwood Housing Authority
Invoice PO#
1021 11-002082
1021-A 11-001933
1022 11-002082
Page: 2
Description/Account Amount
PROF & CONTRACTUAL SERVICE 2,512 .50
PROF & CONTRACTUAL SERVICE 4,612.50
PROF & CONTRACTUAL SERVICE 3,375.00
Total : 10,500.00
Bank total: 10,500.00
Total vouchers : 10,500.00
Page: 2
Lynwood Housing Authority - Page 6 of 31
vchlist
06/15/2022
Bank code:

Voucher
1:33:11PM
lhaus2
Date Vendor
10279 6/21/2022 012487 KEALOHA CORP.
10280 6/21/2022 001329 U.S. BANK
2 Vouchers for bank code :
2 Vouchers in this report
lhaus2
Check List
Lynwood Housing Authority
Invoice PO#
1023 11-002082
6398126 11-002103
Page: 3
Description/Account Amount
PROF & CONTRACTUAL SERVICE 2,662.50
Total : 2,662.50
PROF & CONTRACTUAL SERVICE 1,750.00
Total : 1,750.00
Bank total: 4,412.50
Total vouchers : 4,412.50
Page: 3
Lynwood Housing Authority - Page 7 of 31
1 RESOLUTION NO. 2022.XXX

LHA - Warrant Register Dated 06-21-2022

PASSED, APPROVED and ADOPTED this 21 st day of JUNE, 2022.

Jorge Casanova, Chair

ATTEST:

_________________________
Maria Quiňonez, Ernie Hernandez,
Secretary Executive Director

APPROVED AS TO FORM:

Noel Tapia,
Authority Counsel

Lynwood Housing Authority - Page 8 of 31
2 STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

I, Maria Quiňonez, the undersigned, City Clerk of the City of Lynwood/Secretary to the Lynwood Housing Authority, do hereby certify that the foregoing Resolution was passed and adopted by the Lynwood Housing Authority of the City of Lynwood at a regular meeting held on the __21_st day of JUNE, 2022, and passed by the following vote:

AYES: COMMISSIONERS FLORES, SANTANA, SOTO, VICE CHAIR SOLACHE

AND CHAIR CANANOVA

NOES: NONE

ABSENT: NONE

ABSTAIN: NONE

__________________________
Maria Quiňonez,
Secretary

STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

I, Maria Quiňonez, the undersigned, City Clerk of the City of Lynwood/Secretary to the Lynwood Housing Authority, do hereby certify that the above foregoing is a full, true and correct copy of Lynwood Housing Authority Resolution No. 2022.XXX on file in my office and that said Resolution was adopted on the date and by the vote therein stated.

Dated this __21_st day of JUNE_, 2022.

____________________________
Maria Quiňonez,
Secretary

Lynwood Housing Authority - Page 9 of 31
Agenda Item # 5.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Maria Quinonez, City Clerk
Silvia Pineda, Assistant to the City Clerk
Nancy Blinzler, Office Assistant

SUBJECT:

PREVIOUS MEETING MINUTES
Recommendation:

Staff recommends that the Lynwood Housing Authority approve the following minutes:

January 4, 2022
January 18, 2022
February 1, 2022
February 15, 2022
March 1, 2022
March 15, 2022
April 5, 2022
April 19, 2022
May 3, 2022
May 17, 2022

Background:

N/A
Discussion and Analysis:

N/A
Fiscal Impact:

N/A
Lynwood Housing Authority - Page 10 of 31
Coordinated With:

N/A
ATTACHMENTS:

Description
LHA Regular Meeting 01/04/2022
LHA Regular Meeting 01/18/2022
LHA Regular Meeting 02/01/2022
LHA Regular Meeting 02/15/2022
LHA Regular Meeting 03/01/2022
LHA Regular Meeting 03/15/2022
LHA Regular Meeting 04/05/2022
LHA Regular Meeting 04/19/2022
LHA Regular Meeting 05/03/2022
LHA Regular Meeting 05/17/2022
Lynwood Housing Authority - Page 11 of 31
1 LYNWOOD HOUSING AUTHORITY

MEETING MINUTES
January 4, 2022

01. CALL TO ORDER

The Lynwood Housing Authority Meeting of the City of Lynwood met in the Council Chambers, 11350 Bullis Road Lynwood, CA 90262 or Web conference via ZOOM - To participate via Zoom or by telephone: 1 -669-900-9128 or 1 -253- 215-8782 Meeting ID: 835 2029 8238 on the above date at 6:00 p.m.

Meeting called to order at 6:29 pm

Chair Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quiňonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS

PRESENT: COMMISSIONERS FLORES, SANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA

ABSENT: NONE
STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and Secretary Quiňonez
.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

NONE

Lynwood Housing Authority - Page 12 of 31
2 MOTION: It was moved by Commissioner Soto, seconded by Vice Chair Solache to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COMMISSIONERS FLORES, S ANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. APPROVAL OF THE WARRANT REGISTER-LHA
Approved and Adopted RESOLUTION NO. 2022.001

ENTITLED: WARRANT REGISTER DATED JANUARY 4, 2022 FOR FY 2021- 2022

ADJOURNMENT

Having no further discussion, it was moved by Vice Chair Solache, seconded by Commissioner Soto to adjourn the Lynwood H ousing Authority Meeting at 6:31 p.m. Motion carried by unanimous consent.

_____________________ ____________________
Maria Quinonez, Secretary Jorge Casanova, Chair
Lynwood Housing Authority - Page 13 of 31
1 LYNWOOD HOUSING AUTHORITY

MEETING MINUTES
January 18, 2022

01. CALL TO ORDER

Meeting called to order at 6:23 pm

Chair Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quiňonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS

PRESENT: COMMISSIONERS FLORES, SANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA

ABSENT: NONE
STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and Secretary Quiňonez
.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

NONE

Lynwood Housing Authority - Page 14 of 31
2 MOTION: It was moved by Vice Chair Solache , seconded by Commissioner Santana to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COMMISSIONERS FLORES, SANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. APPROVAL OF THE WARRANT REGISTER-LHA
Approved and Adopted RESOLUTION NO. 2022.002

ENTITLED: WARRANT REGISTER DATED JANUARY 18, 2022 FOR FY 2021- 2022

ADJOURNMENT

Having no further discussion, it was moved by Commissioner Santana, seconded by Commissioner Soto to adjourn the Lynwood Housing Authority Meeting at 6:24 p.m. Motion carried by unanimous consent.

_____________________ ___________________
Maria Quinonez, Secretary Jorge Casanova, Chair Lynwood Housing Authority - Page 15 of 31
1 LYNWOOD HOUSING AUTHORITY

MEETING MINUTES
February 1, 2022

01. CALL TO ORDER

Meeting called to order at 7:06 pm

Chair Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quiňonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS

PRESENT: COMMISSIONERS FLORES, SANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA

ABSENT: NONE
STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and Secretary Quiňonez
.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

NONE

Lynwood Housing Authority - Page 16 of 31
2 MOTION: It was moved by Commissioner Flores, seconded by Vice Chair Solache to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COMMISSIONERS FLORES, SANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. APPROVAL OF THE WARRANT REGISTER-LHA
Approved and Adopted RESOLUTION NO. 2022.003

ENTITLED: WARRANT REGISTER DATED FEBRUARY 1, 2022 FOR FY 2021- 2022

ADJOURNMENT

Having no further discussion, it was moved by Vice Chair Solache, seconded by Commissioner Soto to adjourn the Lynwood H ousing Authority Meeting at 7:08 p.m.

_____________________ _____________________
Maria Quinonez, Secretary Jorge Casanova, Chair
Lynwood Housing Authority - Page 17 of 31
1 LYNWOOD HOUSING AUTHORITY

MEETING MINUTES
February 15, 2022

01. CALL TO ORDER

Meeting called to order at 6:35 pm

Chair Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quinonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF COUNCIL MEMBERS

PRESENT: COMMISSIONERS FLORES, SANTANA , SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA

ABSENT: NONE
STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and Secretary Quiňonez
.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

NONE

Lynwood Housing Authority - Page 18 of 31
2 MOTION: It was moved by Vice Chair Solache , seconded by Commissioner Santana to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COMMISSIONERS FLORES, SANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. APPROVAL OF THE WARRANT REGISTER-LHA
Approved and Adopted RESOLUTION NO. 2022.003

ENTITLED: WARRANT REGISTER DATED FEBRUARY 15, 2022 FOR FY 2021-2022

05. PREVIOUS MEETING MINUTES
Approved PREVIOUS MEETING MINUTES

ENTITLED: Meeting minutes for July 20, 2021 Regular Meeting, August 3, 2021 Special Meeting, August 17, 2021 Regular Meeting, September 7, 2021 Regular Meeting

ADJOURNMENT

Having no further discussion, it was moved by Vice Chair Solache, seconded by Commissioner Santana to adjourn the Lynwood Housing Authority Meeting at 6:36 p.m. Motion carried by unanimous consent.

_____________________ __________________
Maria Quinonez, Secretary Jorge Casanova, Chair
Lynwood Housing Authority - Page 19 of 31
1 Lynwood Housing Authority Meeting
Meeting Minutes
March 1, 2022

01. CALL TO ORDER

Meeting called to order at 6:32 pm

Chair Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quiňonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS

PRESENT: COMMISSIONERS FLORES, SANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA

ABSENT: NONE
STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and Secretary Quiňonez
.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

NONE

Lynwood Housing Authority - Page 20 of 31
2 MOTION: It was moved by Vice Chair Solache , seconded by Commissioner Santana to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COMMISSIONERS FLORES, S ANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. APPROVAL OF THE WARRANT REGISTER-LHA
Approved and Adopted RESOLUTION NO. 2022.005

ENTITLED: A RESOLUTION OF THE LYNWOOD HOUSING AUTHORITY

ALLOWING AND APPROVING THE DEMANDS AND WARRANTS REGISTER DATED MARCH 1, 2022

05. PREVIOUS MEETING MINUTES

Approved Meeting Minutes for Lynwood Housing Authority
October 5, 2021 Regular Meeting
ENTITLED: Meeting Minutes for Lynwood Housing Authority October 5, 2021 Regular Meeting

ADJOURNMENT

Having no further discussion, it was moved by Commissioner Santana, seconded by Vice Chair Solache to adjourn the Lynwood Housing Authority Meeting at 6:3 3 p.m. Motion carried by unanimous consent.

_____________________ ____________________
Maria Quinonez, Secretary Jorge Casanova, Chair

Lynwood Housing Authority - Page 21 of 31
1 Lynwood Housing Authority Meeting
Meeting Minutes
March 15, 2022

01. CALL TO ORDER

Meeting called to order at 6:33 pm

Chair Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Assistant to Secretary Quiňonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS

PRESENT: COMMISSIONERS FLORES, SANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA

ABSENT: NONE
STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, and City Treasurer Camacho

ABSENT: Secretary Quiňonez

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS
NONE

Lynwood Housing Authority - Page 22 of 31
2 MOTION: It was moved by Commissioner Flores, seconded by Commissioner Soto to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COMMISSIONERS FLORES, S ANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. APPROVAL OF THE WARRANT REGISTER-LHA
Approved and Adopted RESOLUTION NO. 2022.006

ENTITLED: WARRANT REGISTER DATED MARCH 15, 2022 FOR FY 2021- 2022

05. PREVIOUS MEETING MINUTES

Approved Lynwood Housing Authority November 2, 2021 Meeting Minutes

ENTITLED: Lynwood Housing Authority November 2, 2021 Meeting Minutes

ADJOURNMENT

Having no further discussion, it was moved by Vice Chair Solache, seconded by Commissioner Santana to adjourn the Lynwood Housing Authority Meeting at 6:54 p.m. Motion carried by unanimous consent.

_____________________ ____________________
Maria Quinonez, Secretary Jorge Casanova, Chair

Lynwood Housing Authority - Page 23 of 31
1 Lynwood Housing Authority Meeting
Meeting Minutes
April 5, 2022

01. CALL TO ORDER

Meeting called to order at 6:53 pm

Chair Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quiňonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS

PRESENT: COMMISSIONERS FLORES, SANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA

ABSENT: NONE
STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and Secretary Quiňonez
.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

NONE

Lynwood Housing Authority - Page 24 of 31
2 MOTION: It was moved by Commissioner Santana, seconded by Vice Chair Solache to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COMMISSIONERS FLORES, SANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. APPROVAL OF THE WARRANT REGISTER-LHA
Approved and Adopted RESOLUTION NO. 2022.007

ENTITLED: WARRANT REGISTER DATED APRIL 5, 2022 FOR FY 2021-2022

05. PREVIOUS MEETING MINUTES

Approved November 16, 2021 Lynwood Housing Authority Meeting Minutes

ENTITLED: November 16, 2021 Lynwood Housing Authority Meeting Minutes

ADJOURNMENT

Having no further discussion, it was moved by Commissioner Santana, seconded by Commissioner Flores to adjourn the Lynwood Housing Authority Meeting at 6:54 p.m. Motion carried by unanimous consent.

_____________________ ____________________
Maria Quinonez, Secretary Jorge Casanova, Chair

Lynwood Housing Authority - Page 25 of 31
1 Lynwood Housing Authority Meeting
Meeting Minutes
April 19, 2022

01. CALL TO ORDER

Meeting called to order at 6:47 pm

Chair Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quiňonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS

PRESENT: COMMISSIONERS FLORES, SANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA

ABSENT: NONE
STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and Secretary Quiňonez
.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

NONE

Lynwood Housing Authority - Page 26 of 31
2 MOTION: It was moved by Commissioner S antana, seconded by Vice Chair Solache to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COMMISSIONERS FLORES, S ANTANA, SOTO, VICE CHAIR

SOLACHE AND CHAIR CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. APPROVAL OF THE WARRANT REGISTER-LHA
Approved and Adopted RESOLUTION NO. 2022.008

ENTITLED: A RESOLUTION OF THE LYNWOOD HOUSING AUTHORITY

ALLOWING AND APPROVING THE DEMANDS AND WARRANTS REGISTER DATED APRIL 19, 2022

ADJOURNMENT

Having no further discussion, it was moved by Commissioner Santana, seconded by Commissioner Flores to adjourn the Lynwood Housing Authority Meeting at 6:49 p.m. Motion carried by unanimous consent.

_____________________ ____________________ Maria Quinonez, Secretary Jorge Casanova, Chair

Lynwood Housing Authority - Page 27 of 31
1 Lynwood Housing Authority Meeting
Meeting Minutes
May 3, 2022

01. CALL TO ORDER
The Lynwood Housing Authority Meeting of the City of Lynwood met in the Council Chambers, 11350 Bullis Road Lynwood, CA 90262 or Web conference via ZOOM - To participate via Zoom or by telephone: 1 -669-900-9128 or 1 -253- 215-8782 Meeting ID: 835 2029 8238 on the above date at 6:00 p.m.

Meeting called to order at 6:35 pm

Chair Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quiňonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS

PRESENT: COMMISSIONERS FLORES, SANTANA, SOTO, AND VICE CHAIR

SOLACHE

ABSENT: CHAIR CASANOVA

STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and Secretary Quiňonez
.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

NONE

CONSENT CALENDAR

All matters listed under the Consent Calendar will be acted upon by one motion affirming the action recommended on the agenda. There will be no separate discussion on these items prior to voting unless members of the Council or staff request specific items be removed from the Consent Calendar for separate action Lynwood Housing Authority - Page 28 of 31
2 MOTION: It was moved by Commissioner Soto, seconded by Vice Chair Solache to approve the consent calendar. Motion carried by unanimous consent.

ROLL CALL:

AYES: COMMISSIONERS FLORES, SANTANA, SOTO, AND VICE CHAIR

SOLACHE
NOES: NONE
ABSTAIN: NONE
ABSENT: CHAIR CASANOVA

04. APPROVAL OF THE WARRANT REGISTER-LHA
Approved and Adopted RESOLUTION NO. 2022.009

ENTITLED: WARRANT REGISTER DATED MAY 3, 2022 FOR FY 2021-2022

ADJOURNMENT

Having no further discussion, it was moved by Commissioner Flores, seconded by Commissioner Santana to adjourn the Lynwood Housing Authority Meeting at 6:36 p.m. Motion carried by unanimous consent.

______________________ ___________________
Maria Quinonez, Secretary Jorge Casanova, Chair

Lynwood Housing Authority - Page 29 of 31
1 Lynwood Housing Authority Meeting
Meeting Minutes
May 17, 2022

Meeting called to order at 7:14 pm

Chair Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quiňonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS

PRESENT: COMMISSIONERS FLORES, VICE CHAIR SOLACHE AND CHAIR

CASANOVA

ABSENT: COMMISSIONERS SANTANA AND SOTO

STAFF
PRESENT: City Manager Hernandez, City Attorney Tapia, City Treasurer Camacho and Secretary Quiňonez
.

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

NONE

CONSENT CALENDAR

All matters listed under the Consent Calendar will be acted upon by one motion affirming the action recommended on the agenda. There will be no separate discussion on these items prior to voting unless members of the Council or staff request specific items be removed from the Consent Calendar for separate action Lynwood Housing Authority - Page 30 of 31
2 MOTION: It was moved by Vice Chair Solache, seconded by Commissioner Flores to approve the consent calendar. Motion carried by 3/0 vote.

ROLL CALL:

AYES: COMMISSIONERS FLORES, VICE CHAIR SOLACHE AND CHAIR

CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: COMMISSIONERS SANTANA AND SOTO

04. APPROVAL OF THE WARRANT REGISTER-LHA
Approved and Adopted RESOLUTION NO. 2022.010

ENTITLED: WARRANT REGISTER DATED MAY 17 2022 FOR FY 2021-2022

ADJOURNMENT

Having no further discussion, it was moved by Commissioner Flores, seconded by Vice Chair Solache to adjourn the Lynwood Housing Authority Meeting at 7:16 p.m.

Motion carried by unanimous consent.

______________________ ___________________
Maria Quinonez, Secretary Jorge Casanova, Chair

Lynwood Housing Authority - Page 31 of 31
This Agenda contains a brief general description of each item to be considered. Copies of the Staff reports or other written documentation relating to each item of business referred to on the Agenda are on file in the Office of the City Clerk and are available for public inspection. Any person who has a question concerning any of the agenda items may call the City Manager at (310) 603-0220, ext. 200.

Procedures for Addressing the Council

IN ORDER TO EXPEDITE CITY COUNCIL BUSINESS, WE ASK THAT ALL PERSONS WISHING TO ADDRESS THE

COUNCIL SUBMIT YOUR COMMENTS IN ADVANCE TO
[email protected]

OR FILL OUT A FORM

AGENDA
Lynwood Utility Authority

TO BE HELD ON

June 21, 2022

1. CALL TO ORDER

2. CERTIFICATION OF AGENDA POSTING BY SECRETARY

3. ROLL CALL OF MEMBERS
Jorge Casanova, President
Jose Luis Solache, Vice President
Oscar Flores, Member
Marisela Santana, Member
Rita Soto, Member

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

THIS PORTION PROVIDES AN OPPORTUNITY FOR THE PUBLIC TO ADDRESS THE LYNWOOD UTILITY

AUTHORITY ON ITEMS WITHIN THE JURISDICTION OF THE LYNWOOD UTILITY AUTHORITY AND NOT LISTED ON THE AGENDA. IF AN ITEM IS NOT ON THE AGENDA, THERE SHOULD BE NO SUBSTANTIAL DISCUSSION

OF THE ISSUE BY LYNWOOD UTILITY AUTHORITY, BUT LYNWOOD UTILITY AUTHORITY MAY REFER THE MATTER TO STAFF OR SCHEDULE SUBSTANTIVE DISCUSSION FOR A FUTURE MEETING. (The Ralph M.

Lynwood Utility Authority - Page 1 of 12
Brown Act, Government Code Section 54954.2 (a).)

PUBLIC HEARING

4. ADOPTION OF THE UPDATED FY 2022-23 LYNWOOD UTILITY AUTHORITY BUDGET
Comments:

Staff has taken Council approved budget numbers for Fiscal Year 2022-23, made modifications, and incorporated them into the full Updated FY 2022-23 Budget. Staff recommends the Members of the Lynwood Utility Authority adopt the FY 2022-23 LUA Updated Budget. (FIN)

Recommendation:

Staff recommends that the Lynwood Utility Authority conduct a public hearing, receive a presentation on the updated Fiscal Year 2021-23 Budget, accept public comments, close the public hearing, and adopt the attached resolution entitled “A RESOLUTION OF THE LYNWOOD UTILITY AUTHORITY ADOPTING THE FISCAL YEAR 2022-23 BUDGET FOR THE WATER ENTERPRISE FUND AND SEWER ENTERPRISE FUND.”

CONSENT CALENDAR

ALL MATTERS LISTED UNDER THE CONSENT CALENDAR WILL BE ACTED UPON BY ONE MOTION AFFIRMING THE ACTION RECOMMENDED ON THE AGENDA. THERE WILL BE NO SEPARATE DISCUSSION ON

THESE ITEMS PRIOR TO VOTING UNLESS MEMBERS OF THE COUNCIL OR STAFF REQUEST SPECIFIC ITEMS TO BE REMOVED FROM THE CONSENT CALENDAR FOR SEPARATE ACTION.

5. PREVIOUS MEETING MINUTES
Comments:

Approving previous meeting minutes for Lynwood Utility Authority: (CC)

February 15, 2022

Recommendation:

Staff recommends that the Lynwood Utility Authority approve the following minutes:

February 15, 2022

ADJOURNMENT
THE LYNWOOD UTILITY AUTHORITY MEETINGS WILL BE POSTED AS NEEDED.

THE

NEXT MEETING WILL BE HELD IN THE COUNCIL CHAMBERS OF CITY HALL ANNEX, 11350 BULLIS ROAD, CITY OF LYNWOOD, CALIFORNIA.

Lynwood Utility Authority - Page 2 of 12
Agenda Item # 4.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Harry Wong, Director of Finance & Administration

SUBJECT:

ADOPTION OF THE UPDATED FY 2022-23 LYNWOOD UTILITY AUTHORITY BUDGET
Recommendation:

Background:

Discussion and Analysis:

The tables below include the FY 2021-22 Adjusted Budget, FY 2021-22 Year-End Estimates (Unaudited) and FY 2022-23 Updated Budget for the Water and Sewer Fund.

Water Fund

This Enterprise Fund is used to account for operations that are financed and operated in a manner similar to a private business enterprise - where the intent of the City Council is that the costs (expenses, including depreciation) of providing goods or services to the general public on a continuing basis be financed or recovered primarily through user charges.

The FY 2021-22 Year-End Estimate is $11.1 million in total revenues and $10.2 million in operating expenditures.

The FY 2021-22 Year-End Estimate for transfers-out is $0.8 million. The unspent portion of the transfers-out for Lynwood Utility Authority - Page 3 of 12
capital and improvement projects is included in the FY 2022-23 Proposed Budget.

The total FY 2022-23 Updated Operating Budget for the Water Fund is $12.9 million supported by $12.1 million in Operating revenues. This budget includes an $1.6 million in transfers-out from the Water Fund to the General Fund
and CIP Fund. Current and future bonding will provide the funding.

TABLE 1
FY 2022-23 UPDATED BUDGET
WATER FUND (Fund 6051)
FY 2021-22
Revised
Budget
FY 2021-22
Year-End
Estimate
(Unaudited)
FY 2022-23
Updated
Budget
Revenue

Water Fund
$12,134,172
$11,143,195
$12,108,799
Transfers In
0 0
0 Total Revenue
$12,134,172
$11,143,195
$12,108,799

Expenditures

Water Fund
$12,758,761
$10,171,373
$12,869,817
Transfers Out
1,347,809
751,887
1,596,421
Total Expenditures
$14,106,570
$10,923,260
$14,466,238

Surplus/(Deficit)
$(1,972,398)
$219,935
$(2,357,439)

Sewer Fund
The FY 2021-22 Year-End Estimate is $3.1 million in revenue, and $1.5 million in expenditures and $0.3 million in transfers out, which results in a surplus of $1.3 million.

The total FY 2022-23 Updated Budget for the Sewer Fund is $2.8 million in revenue, and $2.5 million in expenditures and $0.8 million in transfers out, which results in a deficit of $0.4 million. This budget includes $792,211 in transfers out to the General Fund and the CIP Fund. Current and future bonding will provide the
funding.

TABLE 2
FY 2022-23 UPDATED BUDGET
SEWER FUND (Fund 6401)

FY 2021-22
Revised
Budget
FY 2021-22
Year-End
Estimate
(Unaudited)
FY 2022-23

UPDATED
Budget
Revenues

Sewer Fund
$2,882,168
$3,103,035
$2,882,168
Transfer Out
0 0
0 Total Revenues
$2,882,168
$3,103,035
$2,882,168

Expenditures

Sewer Fund
$2,454,622
$1,534,035
$2,452,570
Transfer Out
741,538
253,491
792,211
Total Expenditures
$3,196,160
$1,787,526
$3,244,781

Surplus/(Deficit)
($313,992)
$1,315,609
($362,613)

Fiscal Impact:

The FY 2022-23 Updated Budget for the Lynwood Utility Authority will entail the use of any necessary bond funds Lynwood Utility Authority - Page 4 of 12
or reserves, as presented in the FY 2022-23 Updated Budget.

Coordinated With:

City Manager's Office
City Attorney
All Departments
ATTACHMENTS:

Description
Reso_Adoption of Updated FY 22-23 LUA Budget
Lynwood Utility Authority - Page 5 of 12
RESOLUTION NO.___________

A RESOLUTION OF THE LYNWOOD UTILITY AUTHORITY ADOPTING THE FISCAL YEAR 2022 -23 BUDGET FOR THE WATER ENTERPRISE FUND AND SEWER

ENTERPRISE FUND

WHEREAS, the President and Members of the Lynwood Utility Authority Agency (LUA) reviewed the Fiscal Year (FY) 2022-23 Executive Director’s updated budget for the LUA, attached herein and made a part of this resolution through this reference; and

WHEREAS, the agen da for the June 21, 2022 meeting of th e Lynwood Utility Authority was duly posted, and the FY 2022-23 Executive Director’s updated Budget and all related agenda material were made available to the interested parties; and

WHEREAS, the total FY 2022 -23 Updated Operating Budget for the Water Fund is $12.9 million supported by $12.1 million in Operating revenues. This budget includes an $1.6 million in transfers-out from the Water Fund to the General Fund and CIP Fund.

Current and future bonding will provide the funding; and

WHEREAS, the total FY 2022 -23 Updated Budget for the Sewer Fund is $ 2.8 million in revenue, and $2.5 million in expenditures and $0.8 million in transfers out, which results in a deficit of $0.4 million. This budget includes $792,211 in transfers out to the General Fund and the CIP Fund. Current and future bonding will provide the funding.

Lynwood Utility Authority - Page 6 of 12
2 NOW, THEREFORE, THE LYNWOOD UTILITY AUTHORITY DOES HEREBY RESOLVE AND DETERMINE AS FOLLOWS:

Section 1. The Lynwood Utility Authority Budget for Fiscal Year 2022-23 for the Water Fund , Sewer Fund , and associated Enterprise Bonds is hereby adopted , as presented in the FY 2022-23 Executive Director’s Updated Budget as follows:

TABLE 1
FY 2022-23 UPDATED BUDGET
WATER FUND (Fund 6051)
FY 2021-22
Revised
Budget
FY 2021-22
Year-End
Estimate
(Unaudited)
FY 2022-23
Updated
Budget
Revenue
Water Fund $12,134,172 $11,143,195 $12,108,799
Transfers In 0 0 0
Total Revenue $12,134,172 $11,143,195 $12,108,799

Expenditures
Water Fund $12,758,761 $10,171,373 $12,869,817
Transfers Out 1,347,809 751,887 1,596,421
Total Expenditures $14,106,570 $10,923,260 $14,466,238

Surplus/(Deficit) $(1,972,398) $219,935 $(2,357,439)

TABLE 2
FY 2022-23 UPDATED BUDGET
SEWER FUND (Fund 6401)
FY 2021-22
Revised
Budget
FY 2021-22
Year-End
Estimate
(Unaudited)
FY 2022-23

UPDATED
Budget
Revenues
Sewer Fund $2,882,168 $3,103,035 $2,882,168
Transfer Out 0 0 0
Total Revenues $2,882,168 $3,103,035 $2,882,168

Expenditures
Sewer Fund $2,454,622 $1,534,035 $2,452,570
Transfer Out 741,538 253,491 792,211
Total Expenditures $3,196,160 $1,787,526 $3,244,781

Surplus/(Deficit) ($313,992) $1,315,609 ($362,613)
Lynwood Utility Authority - Page 7 of 12
3 Section 2. This resolution shall go into effect immediately upon its adoption

PASSED, APPROVED AND ADOPTED this 21st day of June, 2022.

_________________________
Jorge Casanova
Mayor

ATTEST:

______________________________ __________________________ Maria Quinonez Ernie Hernandez
City Clerk City Manager

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

___________________________ __________________________ Noel Tapia Harry Wong
City Attorney Director of Finance & Administration

Lynwood Utility Authority - Page 8 of 12
4 STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

AYES:

NOES:

ABSENT:

ABSTAIN:

________________________
Maria Quiňonez,
City Clerk

STATE OF CALIFORNIA )
) §

COUNTY OF LOS ANGELES )

___________________________
Maria Quiňonez,
City Clerk

Lynwood Utility Authority - Page 9 of 12
Agenda Item # 5.

AGENDA STAFF REPORT
DATE:

June 21, 2022

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Maria Quinonez, City Clerk
Silvia Pineda, Assistant to the City Clerk
Nancy Blinzler, Office Assistant

SUBJECT:

PREVIOUS MEETING MINUTES
Recommendation:

Staff recommends that the Lynwood Utility Authority approve the following minutes:

February 15, 2022

Background:

N/A
Discussion and Analysis:

N/A
Fiscal Impact:

N/A
Coordinated With:

N/A
ATTACHMENTS:

Description
LUA Regular Meeting 02/15/2022
Lynwood Utility Authority - Page 10 of 12
1 LYNWOOD UTILITY AUTHORITY

MEETING MINUTES
February 15, 2022

01. CALL TO ORDER

Web conference via ZOOM - To participate please join via Zoom or by telephone:
1-669-900-9128 or 1-253-215-8782 Meeting ID: 835 2029 8238.

Meeting was called to order at 6:36 p.m.

President Casanova presiding.

02. CERTIFICATION OF AGENDA POSTING BY SECRETARY

Secretary Quinonez announced the Agenda had been duly posted in accordance with the Brown Act.

03. ROLL CALL OF MEMBERS

PRESENT: MEMBERS FLORES, SANTANA, SOTO, VICE PRESIDENT

SOLACHE, AND PRESIDENT CASANOVA
ABSENT: NONE
STAFF PRESENT: Executive Director Hernandez, Authority Attorney Tapia, Treasurer Camacho, Secretary Quinonez

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)
NONE

NON-AGENDA PUBLIC ORAL COMMUNICATIONS
NONE

CONSENT CALENDAR
All matters listed under the Consent Calendar will be acted upon by one motion affirming the action recommended on the agenda. There will be no separate discussion on these items prior to voting unless memb ers of the Council or staff request specific items be removed from the Consent Calendar for separate action.

MOTION: It was moved by Member Flores, seconded by Member Soto to approve the consent calendar. Motion carried by unanimous consent.

Lynwood Utility Authority - Page 11 of 12
2 ROLL CALL:

AYES: MEMBERS FLORES, SANTANA, SOTO, VICE PRESIDENT

SOLACHE AND PRESIDENT CASANOVA
NOES: NONE
ABSTAIN: NONE
ABSENT: NONE

04. PREVIOUS MEETING MINUTES
Approved PREVIOUS MEETING MINUTES

ENTITLED: Meeting minutes for July 7, 2021 Regular Meeting

ADJOURNMENT
Having no further discussion, it was moved by Member Santana, seconded by Vice President Solache to adjourn the Lynwood U tility Authority meeting at 6:38 p.m.

Motion carried by unanimous consent.

___________________
Maria Quinonez, Secretary Jorge Casanova, President Lynwood Utility Authority - Page 12 of 12

Lynwood City CouncilJune 21, 2022

Lynwood City Council
June 21, 2022