Cities Index.
Agenda, first session

Lynwood City Council
January 17, 2023

Document
Agenda, first session
Meeting
January 17, 2023
Body
Lynwood City Council
Pages
210
Original file
222 KB
Text extracted from the city's file for reading and search. Open the original on portal.laserfiche.com. That file is the official record.

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
City Council Regular Meeting

TO BE HELD ON

January 17, 2023

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 1/12/2023 By MQ
6:00 PM

1. CALL TO ORDER

2. CERTIFICATION OF AGENDA POSTING BY CITY CLERK

3. ROLL CALL OF COUNCIL MEMBERS
Oscar Flores, Mayor
Rita Soto, Mayor Pro Tem
Gabriela Camacho, Council Member
Juan Munoz-Guevara, Council Member
Jose Luis Solache, Council Member

4. PLEDGE OF ALLEGIANCE

5. INVOCATION

6. PRESENTATIONS/PROCLAMATIONS
Update on Law Enforcement Issues
City Council Members Reporting on Meetings Attended (Gov. Code Section 53232.3 (D)).

City Video(s)

7. COUNCIL RECESS TO:

Lynwood Successor Agency
City Council Regular Meeting - Page 1 of 124
Lynwood Housing Authority
Lynwood Public Financing Authority

PUBLIC ORAL COMMUNICATIONS
(Regarding Agenda Items Only)

NON-AGENDA PUBLIC ORAL COMMUNICATIONS

THIS PORTION PROVIDES AN OPPORTUNITY FOR THE PUBLIC TO ADDRESS THE COUNCIL ON ITEMS WITHIN THE JURISDICTION OF THE COUNCIL AND NOT LISTED ON THE AGENDA. IF AN ITEM IS NOT ON THE

AGENDA, THERE SHOULD BE NO SUBSTANTIAL DISCUSSION OF THE ISSUE BY THE COUNCIL, BUT COUNCIL 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.

8. APPROVAL OF THE WARRANT REGISTER
Comments:

City of Lynwood warrant register dated January 17, 2023 FY 2022-2023. (FIN)

Recommendation:

Staff respectfully recommends that the City Council of the City of Lynwood approve the warrant register dated January 17, 2023 for FY 2022-2023.

9. TREASURER'S MONTHLY INVESTMENT REPORT
Comments:

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

Recommendation:

The following is the Investment Report for the month ending December 31, 2022. This report is provided to ensure 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.

10. AUTHORIZING RESOLUTION TO SECURE SPECIFIED GRANT FUNDS

SUPPORTING THE URBAN BIKE TRAILS AND WATER QUALITY IMPROVEMENTS

PROJECT
Comments:

The purpose of this item is to have the Lynwood City Council adopt the accompanying Resolution as part of the formal process needed to accept and access Specified Grant funding awarded to supporting the Urban Bike Trails and Water Quality Improvements project. Per grant requirements, an authorizing resolution from the City’s governing body is required to approve the filing of all applications associated with this grant program and its contracts and to identify our agency’s authorized representative/s. (REC)

City Council Regular Meeting - Page 2 of 124
Recommendation:

Staff recommends that the City Council consider this Agenda Staff Report and adopt the attached resolution entitled: “RESOLUTION OF THE CITY COUNCIL OF THE CITY OF

LYNWOOD APPROVING APPLICATION(S) FOR SPECIFIED GRANT FUNDS FROM BUDGET ACT 2022/23.”

NEW/OLD BUSINESS

11. 2023 LYNWOOD 5K RUN/WALK
Comments:

The Lynwood Partners Educational Foundation (LPEF) is proposing to partner with the City of Lynwood to offer the 2023
Lynwood 5K Run/Walk
event to take place on May 13th, 2023 on
Lynwood city streets. In continuing the success of the 2022 event, the 2023 event aims to provide a significant community-building program that also raises funds to support scholarships and student support programs directly benefitting Lynwood youth. Staff is requesting authority from the City Council to partner with the LPEF, appropriate funding in support of the event and to temporarily close designated streets and public areas that will make up the final road course.

Staff requests an approval of a total amount not to exceed $20,000. (REC)

Recommendation:

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

OF THE CITY COUNCIL OF THE CITY OF LYNWOOD AUTHORIZING THE LYNWOOD 5K RUN/WALK PROGRAM AND APPROVING A TOTAL AMOUNT NOT TO EXCEED $20,000 TO SUPPORT THE PROGRAM.”

12. CITY COUNCIL DISCUSSION AND GUIDANCE REGARDING THE SELECTION

AND APPOINTMENT OF CITY TREASURER
Comments:

The City Treasurer position has become vacant with the election of Gabriela Camacho to the City Council. Under Government Code Section 36512(b), the City must either appoint a person or call for a special election to fill the vacancy within 60 days of the commencement of the vacancy. (Government Code Section 36512.) The vacancy commences when the City Treasurer takes the oath of office as a Council Member.

Recommendation:

Staff recommends that the City Council discuss and provide guidance regarding the selection and appointment of City Treasurer.

City Council Options:

The City Council has the following options:

1. Accept and review the applications submitted and make appointment for City Treasurer.

2. Accept and review the applications submitted. Schedule a Special City Council Meeting to conduct interviews and make an appointment for City Treasurer by February 4, 2023.

3. Accept and review the applications submitted. Create an ad hoc committee that will interview and make recommendations to the City Council on appointment of the City Treasurer by February 4, 2023.

4. City Council may provide alternative direction.

13. REVIEW OF BOARD, COMMISSION AND COMMITTEE MEMBERS & ANNUAL

BOARDS, COMMISSIONS AND COMMITTEES LOCAL APPOINTMENT LIST City Council Regular Meeting - Page 3 of 124
Comments:

Review of Board and Commission Members & Annual Boards and Commissions Local Appointment List. (CC)

Recommendation:

Staff recommends that the City Council review the list of Board and Commission members.

Currently, there are various vacancies to the Boards and Commissions including the Community Development Block Grant Board, Public Safety/Traffic & Parking Commission, Personnel Board, Planning Commission and the Citizens Oversight Committee. In accordance with the rules outlined below, the City Council may make any adjustments to these Boards and Commissions, as it deems appropriate.

Additionally, staff recommends that the City Council direct staff to post the attached Lynwood Boards and Commission Appointment List pursuant to Government Code Section 54970 requirements.

14. CITY COUNCIL ORAL AND WRITTEN COMMUNICATION

15. STAFF ORAL COMMENTS

ADJOURNMENT
THE NEXT REGULAR MEETING WILL BE HELD ON FEBRUARY 7, 2023 AT 6:00 P.M. IN THE COUNCIL CHAMBERS OF THE CITY HALL ANNEX, 11350 BULLIS ROAD, CITY OF LYNWOOD, CALIFORNIA.

City Council Regular Meeting - Page 4 of 124
Agenda Item # 8.

AGENDA STAFF REPORT
DATE:

January 17, 2023

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
Recommendation:

Staff respectfully recommends that the City Council of the City of Lynwood approve the warrant register dated January 17, 2023 for FY 2022-2023.

Background:

N/A
Discussion and Analysis:

N/A
Fiscal Impact:

FY 2022-2023
Coordinated With:

City Manager
City Attorney
ATTACHMENTS:

Description
WARRANT RUN 01 17 2023

RESOLUTION ITEM
City Council Regular Meeting - Page 5 of 124
apCkHist
01/11/2023 10:08AM
Bank code: apbank
Void Check# Date Vendor
206436 12/20/2022 012886 GULLERMINA OLEA
1 checks in this report
Void-Check Listing
City of Lynwood
Status ClearNoid Date Reason-Void Reissue Inv. Date Amount Paid 01/05/2023 ERROR GENERATING 07/16/2020 800.00
apbank Total:

Total Checks:

Page: 1
Check Total
800.00
800.00
800.00
Page:1
City Council Regular Meeting - Page 6 of 124
vchlist
01/02/2023
Bank code:

Voucher
206471
206472
206473
206474
206475
206476
206477
206478
7:50:49AM
apbank
Date Vendor
12/15/2022 013522 AMN MANAGEMENT, INC
12/15/2022 012148 BARRERA, JACOB
12/15/2022 000955 CENTRAL BASIN MUNICIPAL WATER
12/15/2022 013526 DOWNEY PARTY RENTALS
12/15/2022 007606 LOPEZ, JUAN
12/15/2022 008216 NOVA STORAGE
12/15/2022 000163 SOUTHERN CALIFORNIA EDISON
12/15/2022 013084 LE, JESSICA
8 Vouchers for bank code : apbank
8 Vouchers in this report
Prepaid-Check List
City of Lynwood
Invoice
- --------
8 9
CL026
LYN-NOV22
1-002202
024
008216-022823
000163121422
Ben149932
PO#
06-009793
06-009794
01-001751
06-009601
08-005001
02-002651
Description/Account

PROF & CONTRACTUAL SERVICE

PROF & CONTRACTUAL SERVICE
Total :

PROF & CONTRACTUAL SERVICE
Total:

IMPORTED DRINKING WATER
Total:

COMMUNITY ACTIVITY EXPENSE
Total:

COMMUNITY ACITIVITY EXPENSE
Total:

STORAGE FEE
Total:

LIGHT & POWER SERVICE
Total:

PAYROLL DEDUCTION PAYMENT
Total:

Bank total:

Total vouchers :

Page: 2
Amount
16,335.00

22.475.00
38,810.00
3,750.00
3,750.00
10,959.84
10,959.84
635.25
635.25
750.00
750.00
1,178.00
1,178.00
26,012 .95
26,012.95
293.00
293.00
82,389.04
82,389.04
Page: 2
City Council Regular Meeting - Page 7 of 124
vchlist
01/11/2023 10:32:43AM
Bank code: apbank
Voucher
206479
206480
206481
206482
206483
206484
206485
206486
206487
206488
Date Vendor
12/19/2022 002699 CONTROL BOARD, STATE WATER
12/20/2022 001087 FANTASY FLOWERS AND GIFTS
12/20/2022 013721 MUNOZ-GUEVARA, JUAN
12/20/2022 013494 ROLANDO ENRIQUE MORA
12/20/2022 011963 WEX BANK
12/21/2022 011944 RELATIONS, DEPARTMENT OF
12/21/2022 007782 CAMACHO, GABRIELA
12/21/2022 013721 MUNOZ-GUEVARA, JUAN
12/21/2022 013719 POPESCU, ELIZABETH
12/21/2022 008668 SOLACHE, JOSE LUIS
10 Vouchers for bank code :
10 Vouchers in this report
apbank
Prepaid-Check List
City of Lynwood
Invoice
SW-0243196
WD-0214198
WD-0214778
2401
2402
2418
013721-123122
LWD1006
85751807
OSIP 70333
007782-011023
013721-011123
013719-110422
008668-011123
PO#
-------
01-001770
01-001743
01-001743
01-001734
06-009598
05-001949
Description/Account

ANNUAL PERMIT FEES

ANNUAL PERMIT FEES

ANNUAL PERMIT FEE
Total :

COMMUNITY ACTIVITY EXPENSE

COMMUNITY ACTIVITY EXPENSE

COMMUNTIY ACTIVITY EXPENSE
Total :

Page: 3
Amount
26,498.00
18,512.00
794.00
45,804.00
242.55
782.78

88.20 1,113.53
ELECTRONIC/MEDIA AND AUTO EXPENSES 500.00
Total:

FILMING SERVICES
Total :

VEHICLE EXPENSE
Total:

PROF & CONTRACTUAL SERVICE
Total:

REIMBURSEMENT CONFERENCE
Total:

REIMBURSEMENT CONFERENCE
Total:

REIMBURSEMENT CONFERENCE
Total:

REIMBURSEMENT CONFERENCE
Total:

Bank total:

Total vouchers :
500.00
1,500.00
1,500.00
13,686.30
13,686.30
13,610.06
13,610.06
172.50
172.50
241.50
241 .50
599.38
599.38
241.50
241.50
77,468.77
77,468.77
Page: 3
City Council Regular Meeting - Page 8 of 124
vchlist Prepaid-Check List Page: 4
01/11/2023 7:48:02AM City of Lynwood
Bank code : apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206489 1/5/2023 007782 CAMACHO, GABRIELA 007782-013123 ELECTRONIC/MEDIA-AUTO EXPENSES 500.00 Total: 500.00
206490 1/5/2023 009302 CHESSER , CHRISTINE 101 PROF & CONTRACTUAL SERVICE 600.00 Total : 600.00
206491 1/5/2023 000702 CINTAS DOCUMENT MANAGEMENT 8405956899 05-001939 REPLENISH FIRST AID CABINET 41.72 Total : 41.72
206492 1/5/2023 013702 GOOD GUARD SECURITY INC 9430 08-005070 PROF & CONTRACTUAL SERVICE 7,736 .32 9595 08-005070 PROF & CONTRACTUAL SERVICE 14,505 .60
9609 08-005070 PROF & CONTRACTUAL SERVICE 14,505 .60
Total : 36,747.52
206493 1/5/2023 000403 INDEPENDENT CITIES ASSOCIATION 1198 MEMBERSHIP DUES 3,531 .75 Total : 3,531.75
206494 1/5/2023 013434 KILEY & ASSOCIATES,LLC 16 01-001745 PROF & CONTRACTUAL SERVICE 5,000.00 Total : 5,000.00
206495 1/5/2023 009041 LOYA, RUUD AND ROMO, ATKINSON, 666037 05-001942 LEGAL SERVICES 187.68 Total: 187.68
206496 1/5/2023 013721 MUNOZ-GUEVARA, JUAN 013721-013123 ELECTRONIC/MEDIA-AUTO EXPENSES 500.00 Total: 500.00
206497 1/5/2023 000078 ODP BUSINESS SOLUTIONS ,LLC 279295464001 05-001940 OFFICE SUPPLIES 259 .33 Total : 259.33
206498 1/5/2023 012692 SOTO, RITA 012692-013123 ELECTRONIC/MEDIA-AUTO EXPENSES 500.00 Total: 500.00
206499 1/5/2023 000163 SOUTHERN CALIFORNIA EDISON 000163010223 LIGHT & POWER SERVICES 33,885.02 Total: 33,885.02
206500 1/5/2023 000164 THE GAS CO. 000164010223 GAS SERVICES 2,501.89 Page: 4
City Council Regular Meeting - Page 9 of 124
vchlist
01/11/2023 7:48:02AM
Bank code : apbank
Voucher
206500
206501
206502
206503
206504
206505
206506
Date Vendor
1/5/2023 000164 000164 THE GAS CO.
1/5/2023 001302 U.S. BANK
1/5/2023 011927 AMERICAN FIDELITY ASSURANCE CO
1/5/2023 013398 AMERICAN FIDELITY ASSURANCE CO
1/5/2023 013463 CITY EMPLOYEES ASSOCIATES, LLC
1/5/2023 010048 LEGAL SHIELD
1/5/2023 013084 LE, JESSICA
18 Vouchers for bank code :
18 Vouchers in this report
apbank
Prepaid-Check List
City of Lynwood
Invoice
(Continued)
001302-121522
001302-121522-A
001302-121522-8
001302-121522-C
001302-121522-D
001302-121522-E
001302-121522 -F
001302-121522-G
Ben149577
Ben149924
Ben149589
Ben149930
Ben149585
Ben149926
Ben149587
Ben149928
Ben149994
PO#
Page: 5
Description/Account Amount
Total : 2,501.89
BANKCARD CHARGES 3,497.99
BANKCARD CHARGES 1,655.23
BANKCARD CHARGES -222.44
BANKCARD CHARGES 2,032.73
BANKCARD CHARGES 86.40
BANKCARD CHARGES 183.00
BANKCARD CHARGES 1,392.53
BANKCARD CHARGES 9,681.93
Total: 18,307.37
ACCIDENT PRETAX: PAYMENT 1,733.15
ACCIDENT PRETAX: PAYMENT 1,733.15
Total : 3,466.30
HEALTH FSA PRE-TAX: PAYMENT 577.89
HEAL TH FSA PRE-TAX: PAYMENT 577.89
Total : 1,155.78
MGMT. ASSOCIATION DUES: 175.00
MGMT. ASSOCIATION DUES: 175.00
Total : 350.00
PAYROLL DEDUCTION PAYMENT 49.84
PAYROLL DEDUCTION: PAYMENT 49.84
Total: 99.68
JESSICA HERRERA: PAYMENT 293.00
Total: 293.00
Bank total: 107,927.04
Total vouchers : 107,927.04
Page: 5
City Council Regular Meeting - Page 10 of 124
vchlist Check List Page: 6
01/11/2023 5:31:29PM City of Lynwood
Bank code: apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206507 1/17/2023 007439 ALL CITY MANAGEMENT SVCS, INC. 81322 11-002148 PROF & CONTRACTUAL SERVICES 15,358.14 81675 11-002148 PROF & CONTRACTUAL SERVICES 8,532.30
82065 11-002148 PROF & CONTRACTUAL SERVICES 17,064.60
Total : 40,955.04
206508 1/17/2023 010746 ALVAREZ-GLASMAN & COLVIN 2022-10-20530 02-002622 LEGAL SERVICES 5,540.50 2022-10-20530-1 02-002622 LEGAL SERVICES 8,030.00
2022-10-20530-2 02-002622 LEGAL SERVICES 66.00
2022-10-20530-3 02-002622 LEGAL SERVICES 14,384.01
2022-10-20531 01-001747 LEGAL SERVICES 2,706.00
2022-10-20532 02-002622 LEGAL SERVICES 475.00
Total: 31,201.51
206509 1/17/2023 002452 AMERICAN LANGUAGE SVCS. 72202 01-001732 PROF & CONTRACTUAL SERVICES 515.70 Total : 515.70
206510 1/17/2023 012693 ANIMAL EMERGENCY, LONG BEACH 676166 11-002169 ANIMAL EMERGENCY 24.32 677300 11-002169 ANIMAL EMERGENCY 2,488.16
678022 ;678055 11-002169 ANIMAL EMERGENCY 1,071.43
678050 11-002169 ANIMAL EMERGENCY 346.03
678051 11-002169 ANIMAL EMERGENCY 373.95
678052 11-002169 ANIMAL EMERGENCY 382.02
678191 11-002169 ANIMAL EMERGENCY 153.47
678308 11-002169 ANIMAL EMERGENCY 277.20
678753-678858 11-002169 ANIMAL EMERGENCY 2,090.82
679153 11-002169 ANIMAL EMERGENCY 855.90
679168 11-002169 ANIMAL EMERGENCY 433.26
679250 ;679276 11-002169 ANIMAL EMERGENCY 599.07
679251 11-002169 ANIMAL EMERGENCY 620.05
680161 11-002169 ANIMAL EMERGENCY 153.47
680372 11-002169 ANIMAL EMERGENCY 191.40
680652 11-002169 ANIMAL EMERGENCY 258.08
680939 ;680916; 680962 11-002169 ANIMAL EMERGENCY 1,038.90 681186 11-002169 ANIMAL EMERGENCY 459.97
681932 11-002169 ANIMAL EMERGENCY 153.47
Page: 6
City Council Regular Meeting - Page 11 of 124
vchlist Check List Page: 7
01/11/2023 5:31:29PM City of Lynwood
Bank code: apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206510 1/17/2023 012693 012693 ANIMAL EMERGENCY, LONG BEACH (Continued) Total: 11,970.97 206511 1/17/2023 000012 AQUA METRIC SALES CO. INV0092391 06-009414 ADVANCED METERING 79,909.20 INV0092392 06-009414 ADVANCED METERING 214,370.11
Total: 294,279.31
206512 1/17/2023 013290 ARTURO RAMIREZ 013290-121322 11-002150 PLANNING COMMISSIONER 50.00 Total : 50.00
206513 1/17/2023 004285 AVANT GARDE, INC. 7596 06-008879 PROF & CONTRACTUAL SERVICES 999.00 7846 06-008241 PROF & CONTRACTUAL SERVICES 610.50
8141 11-002161 PROF & CONTRACTUAL SERVICES 1,690.00
8144 06-009437 PROF & CONTRACTUAL SERVICES 1,360.00
8145 06-009526 PROF & CONTRACTUAL SERVICES 250.00
8146 11-002189 PROF & CONTRACTUAL SERVICES 2,821.25
8149 06-009771 PROF & CONTRACTUAL SERVICES 300.00
Total: 8,030.75
206514 1/17/2023 000115 BAUTISTA, JUAN ANTONIO 000115-111722 08-005015 PROF & CONTRACTUAL SERVICES 672.00 Total: 672.00
206515 1/17/2023 003562 BECERRA, ROWLAND 003562-121322 11-002151 PLANNING COMMISSIONER 50.00 Total : 50.00
206516 1/17/2023 013728 BRADY, HILDA 013728-2021 UB REFUND CST #040509 1,283.24 Total: 1,283.24
206517 1/17/2023 004773 BSN SPORTS 919511597 BASKETBALL NETS 115.11 Total: 115.11
206518 1/17/2023 000300 BUBBS HARDWARE 245 06-009795 MATERIALS AND SUPPLIES 13.22 249 06-009599 MATERIALS AND SUPPLIES 80.00
249-A 06-009795 MATERIALS AND SUPPLIES 24.63
250 06-009795 MATERIALS AND SUPPLIES 11.01
Total: 128.86
206519 1/17/2023 010563 BUCKNAM INFRASTRUCTURE, INC. 350-05.03 06-009693 PROF & CONTRACTUAL SERVICES 5,102.00 Page: 7
City Council Regular Meeting - Page 12 of 124
vchlist Check List Page: 8
01/11/2023 5:31:29PM City of Lynwood
Bank code : apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206519 1/17/2023 010563 010563 BUCKNAM INFRASTRUCTURE, INC. (Continued) Total: 5,102.00 206520 1/17/2023 013105 CALIFORNIA STREET LIGHTING 932 06-009791 PROF & CONTRACTUAL SERVICES 57,880.00 Total: 57,880.00
206521 1/17/2023 001330 CANON FINANCIAL SERVICES, INC. 29654221 08-004994 EQUIPMENT RENTAL 325.66 Total: 325.66
206522 1/17/2023 010398 CAPPO 300011107 MEMBERSHIP DUES 140.00 Total : 140.00
206523 1/17/2023 001195 CDW GOVERNMENT DQ10667 08-005032 COMPUTER SUPPLIES 1,171.56 DQ10957 08-005033 COMPUTER SUPPLIES 1,711.06
Total : 2,882.62
206524 1/17/2023 002319 CINDY'S JUMPERS 59127 08-005047 COMMUNITY ACTIVITY EXPENSE 519.50 59127-A 08-005075 COMMUNITY ACTIVITY EXPENSE 640.50
Total : 1,160.00
206525 1/17/2023 000702 CINTAS DOCUMENT MANAGEMENT 8406002564 FIST AID KIT SUPPLIES 1,011.22 8406002564 -A FIST AID KIT SUPPLIES 875.26
Total : 1,886.48
206526 1/17/2023 004168 CINTAS FIRE PROTECTION 5138132210 FIRST AID SUPPLIES 330.42 Total : 330.42
206527 1/17/2023 004691 CLA-VAL CO. 856496 06-009797 PROF & CONTRACTUAL SERVICE 16,511.86 Total : 16,511.86
206528 1/17/2023 001571 CLINICAL LAB OF SAN BERNARDINO 2201874-LYN01 06-009602 WATER SAMPLES TESTING SVCS. 1,005.00 Total: 1,005.00
206529 1/17/2023 005198 COMMUNITY DEVELOPMENT , 005198-112822 MOBILEHOME PARK PROGRAM 525.00 Total: 525.00
206530 1/17/2023 013675 CONTRACTING COMPANY INC, DOUG 2 06-009768 RETENTION 8,683.18 Total : 8,683.18
Page: 8
City Council Regular Meeting - Page 13 of 124
vchlist Check List Page: 9
01/11/2023 5:31:29PM City of Lynwood
Bank code: apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206531 1/17/2023 010754 COOL IMAGE WATER , DBA/ AMERICAN 1731 01-001748 WATER SERVICES 136.76 1735 02-002630 WATER SERVICES 7.25
Total : 144.01
206532 1/17/2023 007243 COUNTY OF LOS ANGELES, 22121202956 06-009625 TRAFFIC SIGNAL MAINTENANCE 268.58 22121202957 06-009625 TRAFFIC SIGNAL MAINTENANCE 485.57 Total : 754.15
206533 1/17/2023 010638 COURT OF CALIFORNIA, COUNTY OF LA 7 40A-113022 11-002163 COMMUNITY ACTIVITY EXPENSE 18,083.50 Total : 18,083.50
206534 1/17/2023 000305 CULLIGAN 1286033 06-009637 DRINKING WATER 81.52 Total : 81.52
206535 1/17/2023 000138 DAILY JOURNAL CORPORATION B3652069 11-002127 PUBLICATION SERVICES 300 .00 Total: 300.00
206536 1/17/2023 013520 DESIGN INC., CALIFORNIA LANDSCAPE & 38480 06-009484 COMMUNITY ACTIVITY EXPENSE 185,215 .08 Total: 185,215.08
206537 1/17/2023 004089 ELDER, BRUCE A. 004089-1 02622 08-005017 PROF & CONTRACTUAL SERVICE 852.80 Total : 852.80
206538 1/17/2023 009633 EVENT STEP AND REPEAT 16423 08-005037 PRINTING SERVICES 601 .14 16423-A 08-005076 PRINTING SERVICES 835.50
Total : 1,436.64
206539 1/17/2023 003317 FAIR HOUSING FOUNDATION QRT 2-NOVEMBER 2022 11-002138 CDBG SUBRECIPIENT 1,095 .56 Total : 1,095.56
206540 1/17/2023 001087 FANTASY FLOWERS AND GIFTS 2420 08-005077 COMMUNITY ACTIVITY EXPENSE 44.10 2432 08-005077 COMMUNITY ACTIVITY EXPENSE 198.45
5584 08-005077 COMMUNITY ACTIVITY EXPENSE 176.40
Total: 418.95
206541 1/17/2023 003334 FED EX 7 -965-1 5668 06-009576 COURIER SERVICES 11 .26 Total: 11.26
Page: 9
City Council Regular Meeting - Page 14 of 124
vchlist Check List Page: 10
01/11/2023 5:31:29PM City of Lynwood
Bank code : apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206542 1/17/2023 009082 FLOYD, LATASIA 009082-113022 08-005018 PROF & CONTRACTUAL SERVICE 1,120.00 Total : 1,120.00
206543 1/17/2023 013735 FUTURA ENERGEY INC M-001859 REFUND-BUILDING PERMIT 82.00 M-001860 REFUND-BUILDING PERMIT 82.00
Total : 164.00
206544 1/17/2023 003983 GALLS QUARTERMASTER BC1766065 11-002139 PUBLIC SAFETY OFFICER 1,309.85 BC1766099 11-002139 PUBLIC SAFETY OFFICER 1,240.97
BC1771445 11-002139 PUBLIC SAFETY OFFICER 234.30
BC1771663 11-002139 PUBLIC SAFETY OFFICER 422.20
Total: 3,207.32
206545 1/17/2023 013637 GOMEZ, ROBERT RIGO 013637-121322 11-002164 PLANNING COMMISSIONER 50.00 Total : 50.00
206546 1/17/2023 001510 GRAINGER, INC. 9530790402 06-009578 OPERATING SUPPLIES 225.81 9530790436 06-009578 OPERATING SUPPLIES 172.12
9562085952 06-009578 OPERATING SUPPLIES 275.79
Total: 673.72
206547 1/17/2023 000993 GRM INFORMATION MANAGEMENT 0467046-0467060 01-001749 PROF & CONTRACTUAL SERVICE 939.60 Total: 939.60
206548 1/17/2023 013687 GUMP, ANDY INV986157 08-005074 COMMUNITY ACTIVITY EXPENSE 518.18 Total: 518.18
206549 1/17/2023 000233 HARDY AND HARPER, INC. 23148 RET RETENTION 33,332.45 Total : 33,332.45
206550 1/17/2023 013321 HERNANDEZ, ERNIE 25479 REIMBURSEMENT-TRAVEL 500.18 Total : 500.18
206551 1/17/2023 001681 HUMAN SERVICES ASSOCIATION 133020226 08-005021 PROF & CONTRACTUAL SERVICE 3,506.25 Total : 3,506.25
206552 1/17/2023 000353 INFOSEND, INC. 214718 06-009799 PROF & CONTRACTUAL SERVICE 1,207.51 223578 02-002648 PROF & CONTRACTUAL SERVICE 6,076.99
--
Page: 10
City Council Regular Meeting - Page 15 of 124
vchlist Check List Page: 11
01/11/2023 5:31:29PM City of Lynwood
Bank code : apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206552 1/17/2023 000353 INFOSEND, INC. (Continued)
225193 02-002648 PROF & CONTRACTUAL SERVICE 2,574 .31
Total: 9,858.81
206553 1/17/2023 005848 INFRASTRUCTURE ENGINEERS 27963 B 06-009806 PROF & CONTRACTUAL SERVICE 7,839.00 28035 06-009806 PROF & CONTRACTUAL SERVICE 21,060 .00
28072 11-002208 PROF & CONTRACTUAL SERVICE 2,250 .00
28095 06-009416 PROF & CONTRACTUAL SERVICE 6,560 .56
28096 06-009416 PROF & CONTRACTUAL SERVICE 26,242.24
28130 06-008767 PROF & CONTRACTUAL SERVICE 300.00
28163 11-002208 PROF & CONTRACTUAL SERVICE 1,050.00
28177 11-002159 PROF & CONTRACTUAL SERVICE 4,004 .00
28193 11-002159 PROF & CONTRACTUAL SERVICE 20,557 .11
Total: 89,862.91
206554 1/17/2023 006140 INTERGRAPHICS COMPANY INV-0000207 01-001768 PROF & CONTRACTUAL SERVICE 7,226.70 Total : 7,226.70
206555 1/17/2023 000844 J & G GRAPHICS 05619 01-001736 PRINTING SERVICES 271 .84 Total : 271.84
206556 1/17/2023 001240 J.A. SALAZAR CONSTRUCTION 111022 06-009800 PROF & CONTRACTUAL SERVICE 7,041.91 Total : 7,041.91
206557 1/17/2023 008254 JCL TRAFFIC SERVICES 117491 06-009792 OPERATING SUPPLIES 4,929 .50 117492 06-009652 OPERATING SUPPLIES 96.74
117600 08-005057 OPERATING SUPPLIES 2,000.00
117601 08-005057 OPERATING SUPPLIES 3,090.00
117611 06-009652 OPERATING SUPPLIES 150.88
Total : 10,267.12
206558 1/17/2023 010358 JIMENEZ, JESSICA 010358-113022 08-005071 PROF & CONTRACTUAL SERVICE 456 .00 Total : 456.00
206559 1/17/2023 013304 JOE A GONSALVES & SON 160378 06-009772 PROF & CONTRACTUAL SERVICE 4,000 .00 Total : 4,000.00
206560 1/17/2023 001269 JOHN L. HUNTER & ASSOCIATES LYN1MS412210 06-009701 PROF & CONTRACTUAL SERVICE 870.00 Page: 11
City Council Regular Meeting - Page 16 of 124
vchlist Check List Page: 12
01/11/2023 5:31:29PM City of Lynwood
Bank code : apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206560 1/17/2023 001269 001269 JOHN L. HUNTER & ASSOCIATES (Continued) Total: 870.00 206561 1/17/2023 013697 JP DESIGN STUDIO 1005 06-009785 PROF & CONTRACTUAL SERVICE 16,000.00 Total : 16,000.00
206562 1/17/2023 003547 KANE, BALLMER & BERKMAN 27591 11-002206 LEGAL SERVICES 857.50 Total: 857.50
206563 1/17/2023 009723 KELAR PACIFIC, LLC Sl-4024226 06-009786 AUTODESK AEC COLLECTION 2,490.00 Total: 2,490.00
206564 1/17/2023 013625 KOOSHA ENGINEERING KE-22.266 06-009810 WATER TANK TOWERS 9,500.00 Total : 9,500.00
206565 1/17/2023 003331 L.A. COUNTY SHERIFF DEPT. 231425LL , 01-001727 LAW ENFORCEMENT SERVICES 967,346.52 231426LL 01-001728 LAW ENFORCEMENT SERVICES 15,713.60
231426LL-A 01-001729 LAW ENFORCEMENT SERVICES 5,358.00
Total: 988,418.12
206566 1/17/2023 000866 LEAD TECH ENVIRONMENTAL 15052 11-002143 LEAD/ASBESTOS TESTING 575.00 Total: 575.00
206567 1/17/2023 013720 LOPEZ, AMADOR 29804 REFUNDABLE DEPOSIT 3,900.00 Total : 3,900.00
206568 1/17/2023 003313 LOS ANGELES METROPOLITAN, 6017121 02-002616 BUS PASS SUBSIDY 52.00 6017452 02-002616 BUS PASS SUBSIDY 360.00
6017701 02-002616 BUS PASS SUBSIDY 232.00
6018014 02-002616 BUS PASS SUBSIDY 140.00
6018044 02-002616 BUS PASS SUBSIDY 140.00
Total : 924.00
206569 1/17/2023 000348 LYNWOOD ATHLETICS COMMUNITY QTR-2 NOVEMBER 22 11-002144 CDBG SUBRECIPIENT 2,140.36 Total : 2,140.36
206570 1/17/2023 013395 M&C CONSTRUCTION GROUP INC 1121 06-009761 PROF & CONTRACTUAL SERVICE 4,900.00 1138 06-009640 FENCE RENTAL NATATORIUM 1,800.00
1139 06-009640 FENCE RENTAL NATATORIUM 1,800.00
--
Page: 12
City Council Regular Meeting - Page 17 of 124
vchlist Check List Page: 13
01/11/2023 5:31:29PM City of Lynwood
Bank code: apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206570 1/17/2023 013395 M&C CONSTRUCTION GROUP INC (Continued) 1140 06-009640 FENCE RENTAL NATATORIUM 1,800.00
1141 06-009640 FENCE RENTAL NATATORIUM 1,800.00
Total: 12,100.00
206571 1/17/2023 002761 MARCO POWER EQUIPMENT 31215015 06-009672 OPERATING SUPLLIES 90.00 Total : 90.00
206572 1/17/2023 003069 MEDCO SUPPLY CO. IN95898328 MEDICAL SUPPLIES 278 .38 Total : 278.38
206573 1/17/2023 013504 MINER, LTD 5310554299 06-009676 REPAIRS FOR DOORS 1,818.70 5310556160 06-009676 REPAIRS FOR DOORS 2,673 .13
5310556162 06-009676 REPAIRS FOR DOORS 4,106 .90
Total: 8,598.73
206574 1/17/2023 013065 MKN & ASSOCIATES 101595 06-009787 PROF & CONTRACTUAL SERVICE 11,336.24 101745 06-009787 PROF & CONTRACTUAL SERVICE 19,491 .94
Total: 30,828.18
206575 1/17/2023 011975 MOMAR, INC. PSl480438 06-009723 OPERATING SUPPLIES 1,078.35 Total : 1,078.35
206576 1/17/2023 004111 NATIONAL CONSTRUCTION RENTALS 6822138 06-009395 FENCE RENTAL HAM PARK 267 .12 Total : 267.12
206577 1/17/2023 000475 NATIONWIDE ENVIRONMENTAL SVCS . 32883 06-009653 PROF & CONTRACTUAL SERVICE 6,402 .01 Total: 6,402.01
206578 1/17/2023 000475 NATIONWIDE ENVIRONMENTAL SVCS. 32857 06-009704 PROF & CONTRACTUAL SERVICE 1,812 .01 32857-A 11-002160 PROF & CONTRACTUAL SERVICE 1,158.50
Total : 2,970.51
206579 1/17/2023 013673 NOBEL SYSTEMS INC. 15525 06-009807 PROF & CONTRACTUAL SERVICE 2,500.00 Total: 2,500.00
206580 1/17/2023 011922 NORTH STAR LAND CARE 1601-430 06-009620 PROF & CONTRACTUAL SERVICE 25,000 .00 1601-436 06-009801 PROF & CONTRACTUAL SERVICE 44,500 .00 --
Page: 13
City Council Regular Meeting - Page 18 of 124
vchlist Check List Page: 14
01/11/2023 5:31:29PM City of Lynwood
Bank code: apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206580 1/17/2023 011922 NORTH STAR LAND CARE (Continued) 1601-444 06-009620 PROF & CONTRACTUAL SERVICE 2,512.00
1601-466 06-009620 PROF & CONTRACTUAL SERVICE 42,714.00 1601-477 06-009620 PROF & CONTRACTUAL SERVICE 31,899.00 Total : 146,625.00
206581 1/17/2023 000078 ODP BUSINESS SOLUTIONS,LLC 281173478001 01-001737 OPERATING SUPPLIES 152.55 282194206001 06-009661 OPERATING SUPPLIES 13.23
Total : 165.78
206582 1/17/2023 013636 PACIFIC ADVANCED CIVIL ENG,INC 6619 06-009I37 PROF & CONTRACTUAL SERVICE 46,120.00 6706 06-009737 PROF & CONTRACTUAL SERVICE 5,410.00
Total : 51,530.00
206583 1/17/2023 012548 PARKING COMPANY OF AMERICA INVM0017216 06-009642 PROF & CONTRACTUAL SERVICE 98,624.49 Total: 98,624.49
206584 1/17/2023 011725 PAVEMENT COATINGS CO. 1 06-009780 CITYWIDE SLURRY SEAL PHASE 2 196,132.16 Total : 196,132.16
206585 1/17/2023 013733 PERRY, DAIMA 436419821 REFUND-CANCELLED RENTAL 650.00 Total : 650.00
206586 1/17/2023 010945 PETDATA, INC. 11237 11-002146 PET LICENSING SERVICES 500.00 Total: 500.00
206587 1/17/2023 013717 PGS HOME AND SOLAR B-011150 REFUND-BUILDING PERMIT 233.69 Total: 233.69
206588 1/17/2023 008307 PHOENIX GROUP INFORMATION SYS 1120221204 11-002154 PROF & CONTRACTUAL SERVICE 1,636.14 112022204 11-002154 PROF & CONTRACTUAL SERVICE 17,625.87 112022902 11-002154 PROF & CONTRACTUAL SERVICE 2,200.00 Total : 21,462.01
206589 1/17/2023 001313 QUINONEZ, MARIA 001313-013123 ELECTRONIC/MEDIA-AUTO EXPENSES 500.00 Total: 500.00
206590 1/17/2023 008690 RICOH USA, INC. 5066386954 06-009707 COPIER MAINTENANCE 224.40 Page: 14
City Council Regular Meeting - Page 19 of 124
vchlist Check List Page: 15
01/11/2023 5:31:29PM City of Lynwood
Bank code: apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206590 1/17/2023 008690 008690 RICOH USA, INC. (Continued) Total: 224.40 206591 1/17/2023 005067 ROADLINE 18077 06-009802 OPERATING SUPPLIES 176.40 Total: 176.40
206592 1/17/2023 013727 ROXIE, KIRKHAM 109279127 REFUNDABLE DEPOSIT 50.00 Total: 50.00
206593 1/17/2023 008805 RPW SERVICES , INC. 32639 06-009681 PEST CONTROL /GOPHER 250.00 Total: 250.00
206594 1/17/2023 000075 S & J SUPPLY CO. S100204973.001 06-009682 MATERIALS & SUPPLIES 235.36 Total : 235.36
206595 1/17/2023 007205 SANCHEZ AWARDS 2127 01-001739 PLAQUES AND ENGRAVING 82.69 2129 01-001739 PLAQUES AND ENGRAVING 730.95
2130 01-001739 PLAQUES AND ENGRAVING 154.35
Total: 967.99
206596 1/17/2023 00T733 SEQUEL CONTRACTORS, INC. 1-22 06-009803 PROF & CONTRACTUAL SERVICE 96,349.00 Total: 96,349.00
206597 1/17/2023 008956 SPCALA 2022-12 11-002155 ANIMAL SHELTER SERVICES 21,000.00 2022-12-2 11-002155 ANIMAL SHELTER SERVICES 21,000.00
Total: 42,000.00
206598 1/17/2023 002938 TAJ OFFICE SUPPLY 02320 11-002205 OFFICE/OPERATING SUPPLIES 736.47 02346 08-005078 OFFICE/OPERATING SUPPLIES 390.87
02380 11-002201 OFFICE/OPERATING SUPPLIES 569.04
02402 11-002201 OFFICE/OPERATING SUPPLIES 162.50
02471 11-002201 OFFICE/OPERATING SUPPLIES 317.52
Total: 2,176.40
206599 1/17/2023 013701 TAYLOR, LASHONDA 013701-123122 PROF & CONTRACTUAL SERVICE 140.80 Total: 140.80
206600 1/17/2023 013215 THE HOME DEPOT PRO SUPPLY WORK 721582997 06-009630 OPERATING SUPPLIES 2,500.47 721691418 08-005025 OPERATING SUPPLIES 1,091.97
--
Page: 15
City Council Regular Meeting - Page 20 of 124
vchlist Check List Page: 16
01/11/2023 5:31:29PM City of Lynwood
Bank code: apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206600 1/17/2023 013215 THE HOME DEPOT PRO SUPPLY WORK (Continued) 723150421 06-009630 OPERATING SUPPLIESREMOVA 1,190.70
Total: 4,783.14
206601 1/17/2023 013215 THE HOME DEPOT PRO SUPPLY WORK 719975039 06-009629 MATERIALS & SUPPLIES 210.50 720180439 06-009629 MATERIALS & SUPPLIES 34.12
720477991 06-009629 MATERIALS & SUPPLIES 78.50
720483452 06-009629 MATERIALS & SUPPLIES 188.42
720958503 06-009629 MATERIALS & SUPPLIES 285.30
720997931 06-009629 MATERIALS & SUPPLIES 28.71
721424364 06-009629 MATERIALS & SUPPLIES 118.98
721870590 06-009629 MATERIALS & SUPPLIES 468.27
721871911 06-009629 MATERIALS & SUPPLIES 427.89
721913341 06-009629 MATERIALS & SUPPLIES 243.18
722147881 06-009629 MATERIALS & SUPPLIES 659.76
723239125 06-009629 MATERIALS & SUPPLIES 655.60
724537162 06-009629 MATERIALS & SUPPLIES 412.80
Total : 3,812.03
206602 1/17/2023 004179 TIERRA WEST ADVISORS, LLC LY-06228 11-002207 PROF & CONTRACTUAL SERVICE 1,120.00 LY-07228 11-002207 PROF & CONTRACTUAL SERVICE 6,815.00
LY-08228 11-002207 PROF & CONTRACTUAL SERVICE 9,942.50
LY-0922A 11-002207 PROF & CONTRACTUAL SERVICE 5,737.50
LY-09228 11-002207 PROF & CONTRACTUAL SERVICE 23,462.50 LY-1022A 11-002207 PROF & CONTRACTUAL SERVICE 670.00
LY-10228 11-002207 PROF & CONTRACTUAL SERVICE 9,553.50
LY-1022C 11-002207 PROF & CONTRACTUAL SERVICE 2,062.50
LY-11228 11-002207 PROF & CONTRACTUAL SERVICE :3"6,036.25 LY-1122C 11-002207 PROF & CONTRACTUAL SERVICE 3,428.00
Total : 98,827.75
206603 1/17/2023 007742 ULINE, INC. 157250557 08-005072 JANITORIAL SUPPLIES 1,523.16 157554217 06-009592 JANITORIAL SUPPLIES 445.86
157828718 06-009592 JANITORIAL SUPPLIES 253.86
Total : 2,222.88
206604 1/17/2023 000166 UNDERGROUND SERVICE ALERT/SC 1220220415 06-009593 UNDERGROUND SERVICE ALERT 263.75 Page: 16
City Council Regular Meeting - Page 21 of 124
vchlist Check List Page: 17
01/11/2023 5:31:29PM City of Lynwood
Bank code : apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206604 1/17/2023 000166 UNDERGROUND SERVICE ALERT/SC (Continued) 22-2302256 06-009593 UNDERGROUND SERVICE ALERT 110.90
Total : 374.65
206605 1/17/2023 009742 UNI FIRST CORPORATION 3242819905 06-009621 UNIFORM SERVICE AND SUPPLIES 56.49 3242819906 06-009621 UNIFORM SERVICE AND SUPPLIES 56.22 3242819907 06-009621 UNIFORM SERVICE AND SUPPLIES 93.36 3242819908 06-009621 UNIFORM SERVICE AND SUPPLIES 133.58 3242819909 06-009621 UNIFORM SERVICE AND SUPPLIES 92.04 3242823281 06-009621 UNIFORM SERVICE AND SUPPLIES 60.54 3242823282 06-009621 UNIFORM SERVICE AND SUPPLIES 56.22 3242823283 06-009621 UNIFORM SERVICE AND SUPPLIES 108.42 3242823284 06-009621 UNIFORM SERVICE AND SUPPLIES 133.58 3242823285 06-009621 UNIFORM SERVICE AND SUPPLIES 92.04 3242826630 06-009621 UNIFORM SERVICE AND SUPPLIES 60.54 3242826631 06-009621 UNIFORM SERVICE AND SUPPLIES 58.22 3242826632 06-009621 UNIFORM SERVICE AND SUPPLIES 108.42 3242826633 06-009621 UNIFORM SERVICE AND SUPPLIES 133.58 3242826634 06-009621 UNIFORM SERVICE AND SUPPLIES 92.04 3242830145 06-009621 UNIFORM SERVICE AND SUPPLIES 60.54 3242830146 06-009621 UNIFORM SERVICE AND SUPPLIES 58.22 3242830147 06-009621 UNIFORM SERVICE AND SUPPLIES 108.42 3242830148 06-009621 UNIFORM SERVICE AND SUPPLIES 133.58 3242830149 06-009621 UNIFORM SERVICE AND SUPPLIES 92.04 3242833520 06-009621 UNIFORM SERVICE AND SUPPLIES 60.54 3242833521 06-009621 UNIFORM SERVICE AND SUPPLIES 58.22 3242833522 06-009621 UNIFORM SERVICE AND SUPPLIES 108.42 3242833523 06-009621 UNIFORM SERVICE AND SUPPLIES 133.58 3242833524 06-009621 UNIFORM SERVICE AND SUPPLIES 92.04 Total: 2,240.89
206606 1/17/2023 003612 US BANK CORP . TRUST 6772062 ADMINISTRATION FEE 2019B 1,425.00 Total : 1,425.00
206607 1/17/2023 013726 VILLA , SAFERINO 1905-0028 REFUNDABLE DEPOSIT 3,600.00 Total : 3,600.00
Page: 17
City Council Regular Meeting - Page 22 of 124
vchlist Check List Page: 18
01/11/2023 5:31:29PM City of Lynwood
Bank code : apbank
Voucher Date Vendor Invoice PO# Description/Account Amount 206608 1/17/2023 002912 WATERLINE TECHNOLOGIES,INC 5613814 06-009610 OPERATING SUPPLIES 507.43 5613817 06-009610 OPERATING SUPPLIES 811 .88
5613831 06-009610 OPERATING SUPPLIES 463.93
5614461 06-009610 OPERATING SUPPLIES 759.69
5614462 06-009610 OPERATING SUPPLIES 289 .96
5615268 06-009610 OPERATING SUPPLIES 289.96
5615271 06-009610 OPERATING SUPPLIES 289.96
5615275 06-009610 OPERATING SUPPLIES 797 .38
5615646 06-009610 OPERATING SUPPLIES 289.96
5615647 06-009610 OPERATING SUPPLIES 753.89
Total : 5,254.04
206609 1/17/2023 008382 WEST COAST SAND & GRAVEL , INC. 562889 06-009728 OPERATING SUPPLIES 699.42 Total : 699.42
206610 1/17/2023 000802 WEST, KENNETH 000802-121322 11-002158 PLANNING COMMISSIONER 50.00 Total: 50.00
206611 1/17/2023 007609 WILLDAN FINANCIAL SERVICES 010-52794 02-002653 PROF & CONTRACTUAL SERVICE 513.00 Total: 513.00
206612 1/17/2023 012137 XIO INC. 20123003 06-009713 PROF & CONTRACTUAL SERVICE 760.00 Total: 760.00
106 Vouchers for bank code: apbank Bank total: 2,741,419.71 Page: 18
City Council Regular Meeting - Page 23 of 124
RESOLUTION NO. 2022.XXX

Warrant Registers Dated 01-17-2023

PASSED, APPROVED and ADOPTED this 17th day of January_, 2023.

Oscar Flores, Mayor

ATTEST:

__________________________
Maria Quiňonez, Ernie Hernandez,
City Clerk City Manager

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

________
Noel Tapia, Harry Wong,
City Attorney Director of Finance and Administration

City Council Regular Meeting - Page 24 of 124

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 17th day of January, 2023.

AYES: COUNCIL MEMBERS MUNOZ, SOLACHE, MAYOR PRO TEM SOTO AND

MAYOR FLORES

NOES: NONE

ABSENT: NONE

ABSTAIN: NONE

________________________
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 sai d Resolution was adopted on the date and by the vote therein stated. Dated this _17th day of January_, 2023.

___________________________
Maria Quiňonez,
City Clerk

City Council Regular Meeting - Page 25 of 124
Agenda Item # 9.

AGENDA STAFF REPORT
DATE:

January 17, 2023

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Sheila Harding, Deputy City Treasurer

SUBJECT:

TREASURER'S MONTHLY INVESTMENT REPORT
Recommendation:

The following is the Investment Report for the month ending December 31, 2022. This report is provided to ensure 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.

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.

Discussion and Analysis:

The investment transactions were executed in accordance with the City's Investment Policy and the California State Government Code Section 53646(b)(3) that requires the general fund is able to meet its expenditure requirements for the next six months.

City Council Regular Meeting - Page 26 of 124

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 & SUMMARY REPORT - DECEMBER 2022
FHN ECONOMIC REPORT - DECEMBER 2022
NRF & CONFERENCE BOARD GLOBAL - DECEMBER 2022
City Council Regular Meeting - Page 27 of 124

ACTIVITY & PERFORMANCE SUMMARY
DECEMBER 2022

1 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 December 31, 2022.

Type Balances Held
Cash - US Bank $48,689,265.10
Cash - JPMorgan Chase Bank $8,056,091.92
Local Agency Investment Fund $9,595,678.13
FHN Investment Advisors/BNY 25,744,440 .91
TOTAL $66,341,035.15

FHN ACCOUNT SUMMARY
31-Dec 30- Nov
Market Value $35,344,239 $35,314,063
Book Value $36,481,176 $36,466,189
Variance (1,136,936) ($1,152,126)
Par Value $36,500,250 $36,492,754
Net Asset Value $96.88 $96.84
Book Yield 2.38% 2.35%
Market Yield 3.95% 3.88%
Years to Maturity 1.69 1.75
Effective Duration 1.45 1.45

FHN INVESTMENT COMPLIANCE
% %
Company Book Value of
Portfolio
Allowed
by Policy
US Treasuries 6,499,374.86 17.82% 100%
US Federal Agencies 10,450,169.07 28.65% 100%
Supranational Obligations $0.00 0% 30%
LAIF 9,595,678.13 26.30% 75%
Commercial Paper 1,478,968.63 4.05% 25%
Money Market Funds 52,571.67 0.14% 20%
Negotiable Certificates of Deposit 4,915,622.91 13.47% 30% City Council Regular Meeting - Page 28 of 124

ACTIVITY & PERFORMANCE SUMMARY
DECEMBER 2022

2 Corporate Obligations 3,488,790.30 9.56% 30%
State and Local Governments $0.00 0% 100%
Total 36,481,175.57 100.00%

All of the City’s rated investments were rated “A” or higher by at least two rating agencies on December 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.

PURCHASES & MATURITIES
No Purchases or Redemptions for the month of December 2022.

FHN INCOME EARNED SUMMARY

December
Month End
Fiscal Year to
Date

INTEREST
Interest Received/Purchased. 7,495.34 191,919.53
Plus Accrued Interest at End of Period 165,558.38 165,558.38 Less Accrued Interest at Beginning of Period -124,829.88 -74,680.06 Interest Earned During Period 48,223.84 282,797.85

Total Adjustments for Amortization/Accretion 7,491.20 25,036.43 Total Capital Gains or Losses 0.00 0.00
Total Earnings During Period 55,715.04 307,834.28
City Council Regular Meeting - Page 29 of 124
Quarterly Economic and Market Update
December 2022
City Council Regular Meeting - Page 30 of 124
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* 8.6% 16.0% (7.4%)
Consumer Confidence 108.3 103.2 5.1
Gold (per ounce) $1,824.02 $1,660.61 $163.41
Dollar Index 103.52 112.12 (8.60)
U.S. Avg Regular Unleaded $3.21 $3.80 ($0.59)
Retail Sales YOY* 8.7% 8.4% 0.3%
S&P 500 3,840 3,586 7.1%
Consumer Price Index YOY* 7.6% 8.2% (0.6%)
1-5 Yr A-AAA Corporate Spread 0.69% 0.81% (0.12%)
Dow Jones 33,147 28,726 15.4%
30 Year Mortgage Rate 6.66% 5.83% 0.83%
1-5 Yr Agency Spread 0.07% 0.03% 0.04%
10 Year T-Note 3.88% 3.83% 0.04%
U.S. Fed Debt Avg Yield* 2.30% 1.99% 0.31%
3 Year T-Note 4.23% 4.29% (0.06%)
5 Year T-Note 4.01% 4.09% (0.09%)
2 Year T-Note 4.43% 4.28% 0.15%
3 Month T-Bill 4.37% 3.27% 1.10%
Labor Force Participation 62.3% 62.3% 0.0%
Effective Fed Funds Rate 4.33% 3.08% 1.25%
U.S. Payrolls Monthly Change 223,000 269,000 (46,000)
Unemployment Rate 3.5% 3.5% 0.0%
12/31/2022
Item 12/31/2022 9/30/2022 Change
2 City Council Regular Meeting - Page 31 of 124
Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
Estimate: Bloomberg's Survey of Economists
As of: 12/31/2022
12/31/2022
-1.4

5.2 4.7

1.8 3.3

2.3 1.3

0.6 2.4

1.2 2.4

2.0 1.7

2.0 3.4

4.1 2.8

2.8 2.9

0.7 2.2

2.7 3.6

1.8 -4.6
-29.9

35.3 3.9

6.3 7.0

2.7 7.0
-1.6
-0.6

3.2 1.1

0.0 -0.6

0.0 -45
-35
-25
-15
-5
5 15
25 35
45 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
Q2 2023
Q3 2023
Percent
U.S. GDP (Quarter over Quarter Annualized)*
Estimates
3 City Council Regular Meeting - Page 32 of 124
Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
12/31/2022
Estimate: Bloomberg's Survey of Economists
As of: 12/31/2022

8.7 8.0

4.1 4.7
-0.6

7.1 2.1

2.1 -0.7

6.9 2.6

2.6 6.1

4.4 5.8

6.5 6.6

2.7 4.9

3.1 0.2

3.3 5.3

5.6 -0.5
-0.2

5.4 4.6

5.5 3.2
-0.3

2.5 -1.8

4.6 7.2

4.2 3.5

3.5 4.2

3.7 1.9
-0.1

3.5 2.8

4.0 2.7

3.8 4.4

4.5 4.8

4.1 1.0

1.7 2.8

3.9 3.5

2.8 2.0

0.1 -2.6

2.7 1.5

2.3 1.8

2.3 2.7

1.7 2.2

2.9 2.3
-2.8

5.9 1.9
-10
-9
-8
-7
-6
-5
-4
-3
-2
-1
0 1
2 3
4 5
6 7
8 9
10 1950
1952
1954
1956
1958
1960
1962
1964
1966
1968
1970
1972
1974
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
2020
2022
Percent
U.S. Annual GDP *
1980s 3.2% 1990s 3.2% 2000s 1.9% 2010s 2.3%1960s 4.5% 1970s 3.3%1950s 4.2% 4 City Council Regular Meeting - Page 33 of 124
Economic and Market Update
Source: Bureau of Labor Statistics
12 Month Average Job Change 375,250
12/31/2022
-22
-20
-18
-16
-14
-12
-10
-8
-6
-4
-2
0 2
4 6
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-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 Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-22
Millions
U.S. Monthly Non-Farm Payrolls YOY Change
5 City Council Regular Meeting - Page 34 of 124
Economic and Market Update
Source: Bureau of Labor Statistics
12/31/2022
0 5
10 15
20 25
30 Jun-18
Aug-18
Oct-18
Dec-18
Feb-19
Apr-19
Jun-19
Aug-19
Oct-19
Dec-19
Feb-20
Apr-20
Jun-20
Aug-20
Oct-20
Dec-20
Feb-21
Apr-21
Jun-21
Aug-21
Oct-21
Dec-21
Feb-22
Apr-22
Jun-22
Aug-22
Oct-22
Dec-22
Percent
Unemployment Rates
U.S.A Nevada California Idaho Washington Hawaii Oregon Utah 6 City Council Regular Meeting - Page 35 of 124
Economic and Market Update
Source: Bureau of Labor Statistics
12/31/2022
128
130
132
134
136
138
140
142
144
146
148
150
152
154
156
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
Nov-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 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
Nov-22
Percent
U.S. Labor Force Participation Rate
7 City Council Regular Meeting - Page 36 of 124
Economic and Market Update
Source: Department of Labor and Bloomberg
12/31/2022
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 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
2022
Millions
Weekly Initial Jobless Claims
(4 Week Moving Average)
8 City Council Regular Meeting - Page 37 of 124
Economic and Market Update
*Real: Inflation Adjusted
Source: U.S. Census Bureau Source: Conference Board
12/31/2022
-30
-20
-10
0 10
20 30
40 50
60 Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Percent
U.S. Real* Retail Sales YOY % Change
40 50
60 70
80 90
100
110
120
130
140
Jun-12
Dec-12
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Jun-22
Dec-22
Index Value
U.S. Consumer Confidence
9 City Council Regular Meeting - Page 38 of 124
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 12/31/2022

0.0 1.0

2.0 3.0

4.0 5.0

6.0 7.0

8.0 9.0

10.0 Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-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

8.0 Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Percent
PCE and PCEC YOY % Change
PCE
PCEC
10 City Council Regular Meeting - Page 39 of 124
Economic and Market Update
Sources: New (U.S. Census Bureau),Existing (National Assoc. of Realtors) Source: Case-Shiller Seasonally Adjusted Annual Rate
12/31/2022
0 2
4 6
8 10
12 14
16 18
20 22
24 Jul-14
Dec-14
May-15
Oct-15
Mar-16
Aug-16
Jan-17
Jun-17
Nov-17
Apr-18
Sep-18
Feb-19
Jul-19
Dec-19
May-20
Oct-20
Mar-21
Aug-21
Jan-22
Jun-22
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 Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Jun-22
New-Thousands
Existing-Millions
U.S. New and Existing Home Sales
Existing-Left
New-Right
11 City Council Regular Meeting - Page 40 of 124
Economic and Market Update
Source: U.S. Treasury
12/31/2022
$12
$13
$14
$15
$16
$17
$18
$19
$20
$21
$22
$23
$24
$25
$26
$27
$28
$29
$30
$31
$32
$33
Dec-12
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Jun-22
Trillions
U.S. Federal Debt Outstanding

1.3 1.5

1.7 1.9

2.1 2.3

2.5 2.7
Dec-12
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Jun-22
Percent
U.S. Treasury Interest Bearing Debt Avg Rate
12 City Council Regular Meeting - Page 41 of 124
Economic and Market Update
Fed Funds Anticipated Rate from the September 21, 2022 FOMC Meeting Source: Bloomberg
12/31/2022

2.00 2.50

3.00 3.50

4.00 4.50

5.00 5.50
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
Jun-2025
Jul-2025
Aug-2025
Sep-2025
Oct-2025
Nov-2025
Dec-2025
Jan-2026
Percent
Fed Funds FuturesFed's Anticipated Rates
Fed Funds Futures
13 City Council Regular Meeting - Page 42 of 124
Economic and Market Update
Source: Bloomberg
Figures may not total due to rounding
12/31/2022
3Y 4.23 4.29 -0.06
30Y 3.97 3.78 0.19
5Y 4.01 4.09 -0.09
10Y

4.37 3.88 3.83 0.04
Change9/30/2212/30/22
3M
Maturity

0.154.284.432Y

0.723.994.711Y

0.833.934.766M

1.103.27

0.0 0.5

1.0 1.5

2.0 2.5

3.0 3.5

4.0 4.5

5.0 3M 6M 1Y 2Y 3Yr 5Y 10Y 30Y
Percent
U.S. Treasury Yield Curve Change
12/30/22
9/30/22
-20
0 20
40 60
80 100
120
3M
6M
1Y
2Y
3Yr
5Y
10Y
30Y
Basis Points
Basis Point Change
14 City Council Regular Meeting - Page 43 of 124
Economic and Market Update
Source: Bloomberg
12/31/2022

0.00 0.25

0.50 0.75

1.00 1.25

1.50 1.75

2.00 2.25

2.50 2.75

3.00 3.25

3.50 3.75

4.00 4.25

4.50 4.75

5.00 Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-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

3.50 3.75

4.00 4.25

4.50 4.75
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-22
Percent
U.S. Treasury Yields: 2Y and 5Y
5Y
2Y
15 City Council Regular Meeting - Page 44 of 124
Economic and Market Update
Source: Bloomberg
12/31/2022
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
16 City Council Regular Meeting - Page 45 of 124
Economic and Market Update
Source: Bloomberg
12/31/2022
Global Treasury Rates
2 Year Yields 5 Year Yields 10 Year Yields

0.03%

1.22%

2.74%

2.77%

2.83%

2.89%

3.24%

3.40%

3.53%

4.05%

4.43%
-2.0% 0.0% 2.0% 4.0%
Japan
Switzlnd
Germany
Portugal
France
Spain
Italy
Australia
England
Canada
USA

0.23%

1.42%

2.57%

2.87%

2.95%

3.14%

3.41%

3.60%

3.68%

4.00%

4.00%
-1.0% 1.0% 3.0% 5.0%
Japan
Switzlnd
Germany
France
Portugal
Spain
Canada
England
Australia
Italy
USA

0.41%

1.58%

2.57%

3.11%

3.30%

3.58%

3.65%

3.66%

3.87%

4.05%

4.70%

0.0% 1.0% 2.0% 3.0% 4.0% 5.0%
Japan
Switzlnd
Germany
France
Canada
Portugal
Spain
England
USA
Australia
Italy
17 City Council Regular Meeting - Page 46 of 124
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
12/31/2022
Current Spread is 7 Current Spread is 69
-20
0 20
40 60
80 100
120
140
160
180
Nov-08
Nov-09
Nov-10
Nov-11
Nov-12
Nov-13
Nov-14
Nov-15
Nov-16
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Nov-22
Basis Points
Spread: 1-5Yr Agency vs Treasury
0 50
100
150
200
250
300
350
400
450
500
550
600
650
Nov-08
Nov-09
Nov-10
Nov-11
Nov-12
Nov-13
Nov-14
Nov-15
Nov-16
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Nov-22
Basis Points
Spread: 1-5Yr A-AAA Corporate vs Treasury
18 City Council Regular Meeting - Page 47 of 124
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
12/31/2022
Current Spread is 88 Current Spread is 71
0 50
100
150
200
250
300
350
400
450
500
550
600
650
700
750
800
Nov-08
Nov-09
Nov-10
Nov-11
Nov-12
Nov-13
Nov-14
Nov-15
Nov-16
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Nov-22
Basis Points
Spread: AAA Asset Backed vs Treasury
-150
-100
-50
0 50
100
150
200
250
300
Nov-08
Nov-09
Nov-10
Nov-11
Nov-12
Nov-13
Nov-14
Nov-15
Nov-16
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Nov-22
Basis Points
Spread: 0-3Yr Agency CMO vs Treasury
19 City Council Regular Meeting - Page 48 of 124
Economic and Market Update
Source: Bloomberg
12/31/2022
-7.0
-1.9
-0.1

0.6 0.7 0.9 1.6 1.9 2.0 2.4

4.3 4.7 4.8

7.4 7.6

8.6 9.0 9.7

10.8 15.8 15.9

17.7 (10)
(5)
0 5
10 15
20 Percent
Selected Sector Quarterly Total Returns
20 City Council Regular Meeting - Page 49 of 124
Economic and Market Update
Source: Bloomberg
12/31/2022
-32.6 -31.2
-26.2
-21.9 -21.2
-18.2 -18.0 -16.2 -15.2 -14.4 -13.1 -13.0 -12.2 -12.2
-7.0 -5.6 -3.9
-0.6

0.9 9.5

17.5 29.0
(40)
(30)
(20)
(10)
0 10
20 30
40 Percent
Selected Sector Year-Over-Year Total Returns
21 City Council Regular Meeting - Page 50 of 124
Economic and Market Update
Sources: Bloomberg, FHN Main Street
12/31/2022

3.50 3.60

3.70 3.80

3.90 4.00

4.10 4.20

4.30 4.40

4.50 9/30/22
10/3/22
10/6/22
10/9/22
10/12/22
10/15/22
10/18/22
10/21/22
10/24/22
10/27/22
10/30/22
11/2/22
11/5/22
11/8/22
11/11/22
11/14/22
11/17/22
11/20/22
11/23/22
11/26/22
11/29/22
12/2/22
12/5/22
12/8/22
12/11/22
12/14/22
12/17/22
12/20/22
12/23/22
12/26/22
12/29/22
Percent
5 Year Treasury Note Yield
Yields Higher After
Bank Of Japan Raises
Cap On 10-Year Japan
Government Bonds
Core CPI Up 0.6%
Month Over Month
Fed Hikes Rates
75bpsUnemployment Rate
Dropped To 3.5%, The
Lowest Level In Decades
Q3 GDP Up 2.6%
Powell Says Fed May
Slow Down Pace Of
Rate Hikes
Treasuries Post Biggest
Annual Loss Ever, As
Inflation Takes Toll
CPI YoY Up 7.1% Versus
Expected 7.3%, Beating
Expectations
San Francisco Fed's Daly
Says Rate Pause Is Off
The Table
October CPI 0.4% MoM
Core 0.3%
22 City Council Regular Meeting - Page 51 of 124
Economic and Market Update
Sources: Bloomberg, FHN Financial, FHN Main Street
12/31/2022
28,000
29,000
30,000
31,000
32,000
33,000
34,000
35,000
9/30/22
10/3/22
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12/2/22
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Dow Jones Industrial Average
Sales Forecast By Best Buy
Dampens Concerns High
Inflation Would Lead To
Poor Holiday Shopping
Season
Upbeat Corporate Earnings
And Economic Data Cause
Stocks To Rally
August Job
Openings Fall To 14-
Month Low
Powell Says Fed Could
Slow Down Pace Of
Interest Rate Hikes As
Early As December
University Of Michigan Inflation
Expectations Rise For First Time
In Seven Months
Lower Than Expected
October CPI Raises Hopes
For Slower Tightening
Apple Gains On Earnings
Help Push Stocks Higher
Smaller Than Expected
Increase In CPI Lifts
Investor Confidence
Pace Of Rate Hikes
Expected To Slow
23 City Council Regular Meeting - Page 52 of 124
Disclosure
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PROVIDERS SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY WITH RESPECT TO THE QUALITY, ADEQUACY, ACCURACY, TIMELINESS OR COM PLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN "AS IS" BASIS AND SUBSCRIBER'S USE IS AT SUBSCRIBER'S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, E NDORSE, OR RECOMMEND FHN FINANCIAL MAIN STREET ADVISORS, LLC, OR ANY OF ITS PRODUCTS OR SERVICES. 24 City Council Regular Meeting - Page 53 of 124
1 MONTHLY ECONOMIC REVIEW
DECEMBER 2022

NATIONAL RETAIL FEDERATION
After two straight quarters of year-over-year decline, the third quarter’s 2.6% annualized growth in gross domestic product was a solid improvement and much better than expected. The third quarter’s results clearly dispelled the notion that the U.S. economy is in a recession, and the silver lining was the ongoing resiliency in consumption. Even though consumers made fewer purchases, they continued to spend on both goods and services and helped lift GDP. A strong labor market, rising wages and access to excess savings built up during the pandemic have given households strong balance sheets that have helped spending continue despite inflation and higher interest rates.

Nonetheless, the economy is cooling and interest-sensitive sectors, in particular, have seen a significant pullback in spending. This has been especially notable in housing, where the Federal Reserve's aggressive efforts to rein in inflation have resulted in a sharp rise in mortgage rates that have left many potential buyers unable to afford a home. Correspondingly, builder confidence in the market for newly built single-family homes posted its 11th straight monthly decline in November and builders are cutting back on single-family construction.

GDP is expected to grow very gradually in the closing months of 2022, at best about half of what was recorded in the third quarter. Consumers are stepping back to a degree and changing how they allocate their resources, spending more on food and less on other retail goods. At the same time, spending on services has been hearty in recent months and there is no reason to expect that it will moderate even with the continued upward pace of service sector inflation.

Even with inflation, the willingness to spend has been stable for the better part of this year, with retail sales growing 7.5% year over year for the first 10 months. That is on track with NRF’s forecasts that overall, 2022 retail sales and November-December holiday sales will both grow between 6% and 8% over 2021. The pace slowed to 6.5% in October, but that was largely due to the comparison against strong early holiday shopping in 2021.

Many eyes have focused on October’s inflation data, and a range of measures was better than expected.

The big questions are whether inflation has peaked, and will it be coming down? The Consumer Price Index was up 7.7% year over year, down from 8.2% in September for the lowest inflation level since January. At the same time, core inflation (which excludes food and energy) was at 6.3%, down from September’s 40-year high of 6.6%. Meanwhile, average hourly earnings for October were up 4.7% year over year compared with 5% in September, also sending a message that inflation may be receding.

While these changes were all in the right direction, it is too soon to see if they are the beginning of a stable downward trend.

Overall job growth has clearly slowed since the start of the year, but labor demand is not cooling as quickly as the Fed – and markets – would like. Additions are moderating but job openings bounced back in September to 10.7 million from 10.3 million in August. The labor market eased somewhat in October as payrolls increased by 261,000.

City Council Regular Meeting - Page 54 of 124
2 It is hard to anticipate whether the Fed’s monetary tightening will lead to a recession or how bad one might be if it does occur. The risk is clearly elevated by the current framework of rate hikes, but the full effects remain to be seen and one key is how much slowing in the labor market is needed to bring wage growth in line with the Fed’s long-run inflation goals.

As the labor market slows further, as expected in 2023, income growth should slow with it. The good news is that slower job gains should sap momentum from both consumer spending and rising labor costs, hopefully reducing inflationary pressure.

Even though both may slow, employment will still be growing, and consumer spending should remain positive. There will be economic hardships, and some may feel like they are in a recession. But for those who have jobs and feel secure about their employment, careful spending will continue. The downside risk is that “sticky” wages and prices for services – both tend to stay up once they go up – will keep inflation aloft and push the Fed to hold rates higher for longer.

So, what does this all mean? The slowdown in economic growth in 2022 combined with the expansion in the labor market have clearly helped bring economic activity in better balance with labor. But there is a long journey ahead between where we are now and where we need to be. If inflation pressures continue to lessen, the Fed may not be inclined to persist with aggressive interest rate hikes, but that remains to be seen. In the meantime, if prices for gas, groceries and other products decelerate, we will all be able to breathe a little easier.

CONFERENCE BOARD GLOBAL ECONOMIC REPORT
Global real GDP growth is slowing rapidly, from 5 percent year over year in Q3 of 2021 to 3.3 percent in Q3 of 2022. As headwinds to global growth are intensifying, we expect yearly global GDP growth to moderate further to about 2 percent from Q4 2022 onward. Headwinds include persistent inflationary pressures limiting demand and production, very rapid tightening of global financial conditions, and low levels of business and consumer confidence in large economies around the world.

The Conference Board Global Leading Economic Index has contracted for a couple of months now, pointing to rising risks of a downturn. Our forecast for global GDP is for 3.2 percent growth in 2022 and

2.1 percent in 2023. Global growth of 2.1 percent does not formally constitute a global recession, but if achieved it would be the weakest growth rate since 2001 (outside of global recession years 2009 and 2020). In 2024, the global economy likely will experience a modest revival to 2.7 percent growth as shocks related to the pandemic, inflation, and monetary tightening fade. However, growth rates in 2024 After growing by an estimated 1.9 percent in 2022, real GDP is forecast to stagnate for the full year of 2023 and pick up again in 2024 with 1.7 percent growth.

Europe
Europe has likely entered into recession as of Q4 2022 and probably will remain so into the early part of 2023. European economies expected to experience recession include large economies such as Italy, Germany, and the UK, as well as smaller economies such as Czech Republic, Denmark, Hungary, Poland, Romania, Sweden, and Switzerland. CEO confidence fell to an all-time low in H2 2022, reflecting the City Council Regular Meeting - Page 55 of 124
3 challenging outlook ahead. Still, a variety of factors including fading supply chain woes, a robust labor market, and fiscal stimulus portend a short and shallow recession.

After growing by an estimated 3.5 percent in 2022, real GDP is forecast to slow to 0.2 percent growth for the full year of 2023 and pick up again in 2024 with 1.1 percent growth.

China
The Chinese economy has been buffeted by significant challenges from the pandemic, housing, and external trade in 2022. Businesses and consumers chafed at mobility restrictions and lockdowns, and the government has responded by softening its dynamic zero-COVID-19 policies. Confidence among multinational company CEOs improved in H2 2022 in anticipation of better economic performance in 2023. Still, China is not ready to fully shift away from the polices, given low vaccination rates among the elderly and widespread fear of the virus among the general population. Even once restrictions are lifted, there will be an adjustment period as the fear factor subsides. This points to H2 2023 as the period for a resurgence of consumer spending on services, limiting full-year 2023 growth.

After growing by an estimated 2.7 percent in 2022, real GDP is forecast to pick up to 5.1 percent growth for the full year of 2023 and 4.8 percent for 2024.

Emerging Markets
Economic conditions for economies outside China, Europe, and the US are expected to be mixed. While Asian economies apart from China have fared well from reopening, postpandemic, slowing external demand as the US and Europe head toward recession is beginning to cloud growth prospects. The same is true for Latin American economies dependent upon trade with the US and in commodities, whose prices have retreated from early-year peaks. Tighter monetary policy and political instability threatening fiscal outlooks are also troubling select Latin American economies. Elsewhere, Turkey will experience materially slower growth in 2023, but it will avoid recession. Russia and Ukraine will remain in recession due to the ongoing conflict, sanctions (Russia), and widespread destruction (Ukraine).

City Council Regular Meeting - Page 56 of 124
Agenda Item # 10.

AGENDA STAFF REPORT
DATE:

January 17, 2023

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Mark Flores, Director of Recreation & Community Services

SUBJECT:

AUTHORIZING RESOLUTION TO SECURE SPECIFIED GRANT FUNDS

SUPPORTING THE URBAN BIKE TRAILS AND WATER QUALITY IMPROVEMENTS

PROJECT
Recommendation:

Staff recommends that the City Council consider this Agenda Staff Report and adopt the attached resolution entitled: “RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPROVING APPLICATION(S) FOR SPECIFIED GRANT FUNDS FROM BUDGET ACT 2022/23.”

Background:

The purpose of this item is to have the Lynwood City Council adopt the accompanying Resolution as part of the formal process needed to accept and access Specified Grant funding awarded to supporting the Urban Bike Trails and Water Quality Improvements project.

Per grant requirements, an authorizing resolution from the City’s governing body is required to approve the filing of all applications associated with this grant program and its contracts and to identify our agency’s authorized representative/s.

Discussion and Analysis:

In November 2022, the City received notice that it was awarded a Specified Grant from the 2022/23 California State Budget, Chapter 249/2022, Item Number 3790-101-001, Section 19.56(9) (b) (1) (AZ) $900,000 to support the Urban Bike Trails and Water Quality Improvements project.

The first step in securing these specified funds is to have the City’s governing board adopt the accompanying Resolution. Once approved, an executed copy will be forwarded to the City’s assigned Program Manager at the CA Office of Grants and Local Services (OGALS). It is required that grantees pass a single resolution approving the filing of all applications associated with this grant program and its contracts.

The Authorizing Resolution serves two purposes:

City Council Regular Meeting - Page 57 of 124

1. It is how the grantee’s Governing Body agrees to the terms of the contract; it provides confirmation that the grantee has the funding to complete, operate and maintain projects associated with the contract.

2. It designates a position title to represent the Governing Body on all matters regarding projects associated with the contract. The incumbent in this position is referred to as the authorized representative.

The authorized representative can delegate signatory authority to other individuals (by position title) either in entirety or for particular documents. The delegation process requires the authorized representative to submit a letter (on letterhead) or email to OGALS delegating authority.

After the executed Resolution is received at OGALS and staff participates in an administrative overview presentation, OGALS will generate the grant contract and send to our authorized representative for final signatures. The grant performance period is July 1, 2022 – June 30, 2026.

Staff recommends that the City Council approve and adopt the authorizing resolution. OGALS requires that the accompanying resolution be formatted as presented.

Fiscal Impact:

The requested action does not have a fiscal impact.

Coordinated With:

City Manager
Finance Department
City Attorney’s Office
ATTACHMENTS:

Description
Resolution - OGALS Specified Grant Urban Bike Trails
City Council Regular Meeting - Page 58 of 124
Resolution No: __________________

RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPROVING APPLICATION(S) FOR SPECIFIED GRANT FUNDS FROM BUDGET ACT 2022/23 Specified Grant from the 2022/23 California State Budget, Section19.56 (b) (1) (AZ) $900,000 to the City of Lynwood for the Urban Bike Trails and Water Quality Improvements project

WHEREAS, the State Department of Parks and Recreation has been delegated the responsibility by the Legislature of the State of California for the administration of a grant to the City of Lynwood, setting up necessary procedures governing application(s); and WHEREAS, said procedures established by the State Department of Parks and Recreation require the applicant’s Governing Body to certify by resolution the approval of project application(s) before submission of said applications to the State; and WHEREAS, the applicant will enter into a contract with the State of California to complete project(s);
NOW, THEREFORE, BE IT RESOLVED THAT THE CITY OF LYNWOOD HEREBY:

1. Approves the filing of project application(s) for specified grant project(s); and

2. Certifies that said applicant has or will have available, prior to commencement of project work utilizing specified grant funds, sufficient funds, including those provided by this grant, to complete the project; and

3. Certifies that the applicant has or will provide sufficient funds to operate and maintain the project(s); and

4. Certifies that the applicant has reviewed, understands, and agrees to the Provisions contained in the contract in this Procedural Guide; and

5. Delegates the authority to the Lynwood City Manager , or designee to conduct all negotiations, sign and submit all documents, including, but not limited to applications, agreements, amendments, and payment requests, whi ch may be necessary for the completion of the project scope(s); and

6. Agrees to comply with all applicable federal, state and local laws, ordinances, rules, regulations and guidelines.

PASSED, APPROVED AND ADOPTED THIS 17TH DAY OF JANUARY, 2023

_________________________
Oscar Flores,
Mayor
ATTEST:

_______________________ __________________________
Maria Quinonez Ernie Hernandez
City Clerk City Manager
City Council Regular Meeting - Page 59 of 124

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

________________________ __________________________
Noel Tapia, Mark Flores, Director
City Attorney Recreation & Community Services

City Council Regular Meeting - Page 60 of 124
STATE OF CALIFORNIA }
} SS.

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 Lynwood City Council

at a regularly scheduled meeting held on the 17th day of January, 2023.

AYES:

NOES:

ABSENT:

ABSTAIN:

__________________________
Maria Quinonez, City Clerk

STATE OF CALIFORNIA }
} SS.

COUNTY OF LOS ANGELES }

I, the undersigned, City Clerk of the City of Lynwood, 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 17th day of January, 2023.

__________________________
Maria Quinonez, City Clerk

City Council Regular Meeting - Page 61 of 124
Agenda Item # 11.

AGENDA STAFF REPORT
DATE:

January 17, 2023

TO:

Honorable Mayor and Members of the City Council

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Mark Flores, Director of Recreation and Community Services

SUBJECT:

2023 LYNWOOD 5K RUN/WALK
Recommendation:

Staff recommends that the City Council adopt the attached resolution entitled: “A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD AUTHORIZING THE LYNWOOD 5K RUN/WALK PROGRAM AND APPROVING A TOTAL AMOUNT NOT TO EXCEED $20,000 TO SUPPORT THE PROGRAM.”

Background:

The Lynwood Partners Educational Foundation (LPEF) is proposing to partner with the City of Lynwood to offer the 2023
Lynwood 5K Run/Walk
event to take place on May 13th, 2023 on Lynwood city streets. In continuing the success of the 2022 event, the 2023 event aims to provide a significant community-building program that also raises funds to support scholarships and student support programs directly benefitting Lynwood youth. Staff is requesting authority from the City Council to partner with the LPEF, appropriate funding in support of the event and to temporarily close designated streets and public areas that will make up the final road course.

Discussion and Analysis:

The City of Lynwood has offered 5K program opportunities to Lynwood residents throughout its history. The City partnered with St. Francis Medical Center (SFMC) on the famed Nun Run
from 1984 through the early 1990s
and a one-time revival of the Nun Run in 2010. More recently, the City sponsored two 5K events in February (SFMC) and in November 2012 – a City-produced run/walk to support fundraising efforts benefitting a city special event. Lastly, the City supported the Lynwood Sheriff’s Century Station 5K events in 2013 and in 2015.

Furthermore, running has traditionally been a sport that Lynwood youth have excelled at – with over 1,000 local youth participating each year in City-led track meets each Spring. Our community has a storied history of local young men and women going on to compete in national youth-level, college-level and professional ranks.

Mindful of the positive impact and the importance of running opportunities to the community, the City has long expressed interest in continuing to offer similar running events. However, due to the substantial personnel and City Council Regular Meeting - Page 62 of 124
budgetary resources needed to produce a large-scale 5K event, the City is unable to produce a 5K event on its own.

The Lynwood Partners Educational Foundation (LPEF) – the charitable foundation of the Lynwood Unified School District (LUSD) - is formally proposing to once again partner with the City of Lynwood to produce a community 5K Run/Walk in 2023. The aim is to bring a yearly, large-scale community-building event that raises funds for Lynwood student scholarships and academic support programs. A successful partnership with the LPEF is an excellent opportunity to bring an on-going 5K event to our community, while saving the City the significant resources needed to self-produce an event.

Summary of 2022 5K Event:

Registered Race Participants 572
Event Sponsorships $30,225 Registration Fee Revenues $8,182
Net Proceeds for Scholarships
and Academic Support Programs
$22,065.97

2023 Event Partnership with the LPEF

A collaborative production of the
2023 Lynwood 5K
with the Lynwood Partners Educational Foundation (LPEF) involves:

·

City of Lynwood and LPEF as co-presenters of the event. ·

LPEF to lead event planning efforts and be responsible for the ≈$14,000 organizer fee to the professional event organizing firm (
Aztlan Athletics
) and all event insurances.
·

LPEF will process and collect all registrations and participant fees (100% of net proceeds benefit LPEF scholarships and academic programs for Lynwood students) ·

The City will be responsible for major event-day logistics that include:
o

Street closures (staffing and rentals, traffic planning) o

Sheriff support
o

Start/Finish event area: organize vendor and resource fair, stage with local entertainment, DJ, etc. ·

The LPEF will be required to notify all businesses and residents along the requested race route. The notification is to be delivered at least two weeks prior to the race. ·

Proposed road course and event layout is similar to the 2022 event.

·

Target Participant Registrations = 750

By agreeing to the proposed partnership, the City will be able to achieve the long-standing goal of hosting a professional 5K Run/Walk - without having to strain its limited staff resources or having to impact other programs in order to focus on self-producing a 5K event.

The long-term goal is to establish a self-supporting and recurring community 5K event. Should an event partnership not be approved by the City, the LPEF and the Lynwood Unified School District will seek to move the event forward through the City’s Special Event permit process.

Through adoption of the accompanying resolution, staff recommends that the City Council authorize staff to (a) partner with the LPEF to produce a 5K event, (b) allocate funding to support event production, (c) authorize staff to finalize and designate an appropriate race course on City streets and (d) to waive special event and facility use permit fees as the City will co-present the event. Staff requests the approval of a total amount not to exceed $20,000.

Fiscal Impact:

Staff is requesting approval of an appropriation of $20,000 from the Unappropriated General Fund as follows:

Fund
Dept
Div
Object
Description
Amount
1011

Budgetary Transfer Out
General Fund
$20,000
1011

Budget Fund Balance
($20,000)
City Council Regular Meeting - Page 63 of 124

Budgetary Transfer In

1011
60 701
62015
Professional/Contr. Services
$9,000
1011
60 701
64020
Community Activities Expenses
$7,000
1011
60 701
60015
Overtime
$4,000

Coordinated With:

Finance
City Attorney
Public Works
ATTACHMENTS:

Description
Resolution
2023 Lynwood 5K10K Course and layout
City Council Regular Meeting - Page 64 of 124
RESOLUTION NO. ________________

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD AUTHORIZING THE LYNWOOD 5K /10K RUN/WALK PROGRAM AND
APPROVING A TOTAL AMOUNT NOT TO EXCEED $20,000 TO SUPPORT THE

PROGRAM

WHEREAS, the City of Lynwood wishes to partner with the Lynwood Partners Educational Foundation to develop , co-present and execute the 2023 Lynwood 5K/10K Run/Walk program to take place on Saturday, May 13th or 20th, 2023; and

WHEREAS, the Lynwood City Council recognizes the significant community benefits of a 5K /10K Run/Walk program, including, but not limited to the promotion of healthy lifestyles, a community -building activity and the fundraising of much needed dollars to support the academic needs of Lynwood youth; and

WHEREAS, it is esti mated that the 2023 Lynwood 5K /10K Run/Walk program will serve over 750 race participants and 2,500 visitors of the event; and

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

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

Section 2. The City Council further finds that the requested supp ort and program serves the important public purpose of presenting a substantially beneficial community-building event for Lynwood residents.

Section 3. The City Council further authorizes the City Manager to direct staff to complete the program and identify and approve the appropriate financial accounts to support the program as presented.

Section 4. The City Council approves the following estimated eve nt City costs, that are not to exceed $20,000 total for the event:

 Sheriff’s Department Support Services $9,000
 Materials, Supplies & Rentals $7,000
 Staff Time $4,000

City Council Regular Meeting - Page 65 of 124
Section 5. The City Council approves the following appropriation:

Fund Dept Div Object Description Amount
1011
Budgetary Transfer Out
General Fund $20,000
1011 Budget Fund Balance ($20,000)

Budgetary Transfer In
1011 60 701 62015 Professional/Contr. Services $9,000
1011 60 701 64020 Community Activities Expenses $7,000
1011 60 701 60015 Overtime $4,000

Section 6. The Lynwood City Council recognizes the significant public benefit of a City-supported 5K/10K Run/Walk event in 2023 and waives all applicable City special event permit and facility use fees and authorizes staff to provide support services to the event, including the event -related closures of City streets that comprise the final event course.

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.

Section 9. The City Clerk shall certify as to the adoption of this City Council Resolution.

PASSED, APPROVED AND ADOPTED THIS 17th day of January 2023.

__________________________
Oscar Flores, Mayor

ATTEST:

___________________________ __________________________
Maria Quinonez, City Clerk Ernie Hernandez, City Manager

City Council Regular Meeting - Page 66 of 124

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

___________________________ __________________________
Noel Tapia, City Attorney Mark Flores, Director of Recreation & Community Services

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 Ci ty on the _________day of____________, 2023 and passed by the following vote:

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.

City Council Regular Meeting - Page 67 of 124
Dated this ______ day of ________________, 2023.

___________________________
City Clerk, City of Lynwood

City Council Regular Meeting - Page 68 of 124
Mile 1 Mile 2 Mile 3 Street closure Vendor, exhibitor,
performer Parking Parking LotsCity Council Regular Meeting - Page 69 of 124 Agenda Item # 12.

AGENDA STAFF REPORT
DATE:

January 17, 2023

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

SUBJECT:

CITY COUNCIL DISCUSSION AND GUIDANCE REGARDING THE SELECTION

AND APPOINTMENT OF CITY TREASURER
Recommendation:

Staff recommends that the City Council discuss and provide guidance regarding the selection and appointment of City Treasurer.

City Council Options:

The City Council has the following options:

1. Accept and review the applications submitted and make appointment for City Treasurer.

2. Accept and review the applications submitted. Schedule a Special City Council Meeting to conduct interviews and make an appointment for City Treasurer by February 4, 2023.

3. Accept and review the applications submitted. Create an ad hoc committee that will interview and make recommendations to the City Council on appointment of the City Treasurer by February 4, 2023.

4. City Council may provide alternative direction.

Background:

The City Treasurer position has become vacant with the election of Gabriela Camacho to the City Council. Under Government Code Section 36512(b), the City must either appoint a person or call for a special election to fill the vacancy within 60 days of the commencement of the vacancy:

"If a vacancy occurs in an elective office provided for in this chapter,

the council shall, within 60 days from the
commencement of the vacancy, either fill the vacancy by appointment or call a special election to fill the vacancy.

The special election shall be held on the next regularly established election not less than 114 days from the call of City Council Regular Meeting - Page 70 of 124
the special election. A person appointed or elected to fill a vacancy holds office for the unexpired term of the former incumbent."

The vacancy commences when the City Treasurer takes the oath of office as a Council Member. However, if the City Council does not appoint a replacement by the 60-day deadline, then it must call a special election to fill the vacancy. (Government Code Section 1770, 36512).

On December 6, 2022, the City Council directed that the City Treasurer vacant position be advertised through January 2, 2023. Applicants were asked to submit a City application, letter of interest, resume and/or biography.

The deadline for applications was set for January 2, 2023 at 5:00 pm. There were a total of five (5) applicants.

See attached list. Applications received were e-mailed and provided directly to members of the City Council on January 3, 2023.

The statutory 60-day period to appoint a City Treasurer began December 6, 2022 and ends on February 4, 2023.

Discussion and Analysis:

The Lynwood Municipal Code does not include an appointment process for filling vacancies in elective offices.

However, state law places some limitations on the appointment process. Government Code Section 36502(a) states:

"A person is not eligible to hold office as councilmember, city clerk, or city treasurer unless he or she is at the time of assuming the office, an elector of the city, and was a registered voter of the city at the time nomination papers are issued to the candidate as provided for in Section 10227 of the Election Code."

"If, during his or her term of office, he or she moves his or her place of residence outside of the city limits or ceases to be an elector of the city, his or her office shall immediately become vacant."

Any appointee to the City Treasurer position must be a Lynwood resident and registered to vote in Lynwood. In addition, the Brown Act requires any interviews be conducted by the entire City Council in open session.

Applicants for City Treasurer Consideration:

The following candidates have submitted their application for consideration:

1. Jorge Casanova

2. Luis Gerardo Cuellar

3. Rebecca Castro

4. Yolanda Rodriguez Gonzalez

5. Linda M. George

The City Council must appoint someone as City Treasurer or call for a special election to fill the vacant City Treasurer position by February 4, 2023.

Fiscal Impact:

N/A
Coordinated With:

City Manager's Office
City Council Regular Meeting - Page 71 of 124
ATTACHMENTS:

Description
City Treasurer List of Applicants
City Treasurer Applications
Resolution
City Council Regular Meeting - Page 72 of 124
City of Lynwood
11330 Bullis Road Lynwood, CA 90262
310) 603-0220
www.Iynwoodca.gov

APPLICATION FOR CITY TREASURER APPOINTMENT
All information provided by applicant is considered a " public record" and will be included with the applicable City Council agenda materials. Personal contact information will be redacted prior to posting online.

ALL APPLICANTS MUST BE 18 YEARS OF AGE, A RESIDENT, AND REGISTERED VOTER WITHIN THE CITY OF LYNWOOD AT THE TIME OF APPLICATION. THE APPOINTED CITY TREASURER

WILL BE REQUIRED TO FILE A FAIR POLICTICAL PRACTICES COMMISSION ( FPPC) STATEMENT OF ECONOMIC INTEREST FORM 700 PURSUANT TO THE POLITICAL REFORM ACT OF 1974 WITHIN 30 DAYS OF ASSUMING OFFICE.

FILING DEADLINE IS MONDAY, JANUARY 2, 2023 AT 5:00 P.M.

Please attach a letter of interest, resume and/or biography and submit all documents no later than 5:00 p.m. on Monday, January 2, 2023 to:

Attn: Maria Quinonez, City Clerk
City of Lynwood
11330 Bullis Road
Lynwood, CA 90262
NAME: Application Letter of
Interest
Resume Biography Date
Received
Jorge Casanova V 12/19/22
Luis Gerardo Cuellar
12/26/22
AI 12/21/22
Rebecca Castro J 12/30/22
Yolanda Rodriguez Gonzalez 1/2/23
Linda M. George V I 1/2/23
1 City Council Regular Meeting - Page 73 of 124
City of Lynwood
11330 Bullis Road Lynwood, CA 90262
310) 603-0220
www.Iynwoodca.gov

APPLICATION FOR CITY TREASURER APPOINTMENT
Jorge Casanova
City Council Regular Meeting - Page 74 of 124
City of Lynwood RECEIVED
11330 Bullis Road Lynwood, CA 90262
DEC 1 9 2022310) 603-0220
www.lynwoodca.gov CITY OF LYNWOOD

CITY CLERKS OFFICE

APPLICATION FOR CITY TREASURER APPOINTMENT
All information provided by applicant is considered a " public record" and will be included with the applicable City Council agenda materials. Personal contact information will be redacted prior to posting online.

ALL APPLICANTS MUST BE 18 YEARS OF AGE, A RESIDENT, AND REGISTERED VOTER WITHIN THE CITY OF LYNWOOD AT THE TIME OF APPLICATION. THE

APPOINTED CITY TREASURER WILL BE REQUIRED TO FILE A FAIR POLICTICAL

PRACTICES COMMISSION ( FPPC) STATEMENT OF ECONOMIC INTEREST FORM 700 PURSUANT TO THE POLITICAL REFORM ACT OF 1974 WITHIN 30 DAYS OF ASSUMING OFFICE.
i
FILING DEADLINE IS MONDAY, JANUARY 2, 2023 AT 5:00 P.M.

Name:
dCACr Ca5CATIO \JO\ Phone:

Home Address:

City Resident: Yes V No Registered Voter: Yes \ I No
Email:

Education:

High School, College, or
University
Attended
From/To
Type of Degree Main Course of
Study
Lin C {) Mho /Year r/Y,eaarr
Other Formal Training or Education ( e.g. internship, certificate program, technical school):
1 City Council Regular Meeting - Page 75 of 124

EMPLOYMENT HISTORY
Include any experience within the last 10 years and begin with most recent employer.

From: To: Annual Salary: Position Title:

Mo./Year
1:2-01
Mo / Year
11/012,1).

Starting
100
Ending
3D LWACAM nVeK-
Name of Em loyer:

CkL`-(GP0°A
Type of Business:
00‘t c
Altel
Address: Name of Supervisor:

Phone: Number of Employees
Supervised:

Reason for Leaving:
f etiCt
Description of Duties
erktl\C:d labsAY)-e've- WrS-c-C—
From: To: Annual Salary: Position Title:

Mo / Year Mo./Year Starting Ending
ozsaem, ice°
Na e of Emplo er:
1 Type of Business:

Address:
n
LindEE. tic(t cl Co b r col -
Name of Supervisor:

Phone: Number of Employees
Supervised:

Reason for Leaving:

Description of Duties
1/
40eS.1144/v(- / Cep bjicr
2 City Council Regular Meeting - Page 76 of 124
ommunity Experience: ccue(;\ / NA„_vt1Nc
6„(Nctoc..e
wy.(y.. rc oar, o'‘ ke-
4—
v - r, rr,, b-aswce-
Civil, Fraternal, or Professional Memberships/Obligations:

DECLARATION
I declare under penalty of perjury under the laws of the State of California that all information stated in this application and all attached pages are true, correct and complete to the best of my knowledge and belief. I further declare that I am 18 years of age or older, a resident and registered voter of the City of Lynwood.

Signature: Date: ' 2022
Please attach a letter of interest, resume and/or biography and submit all documents no later than 5:00 p.m. on Monday, January 2, 2023 to:

Attn: Maria Quinonez, City Clerk
City of Lynwood
11330 Bullis Road
Lynwood, CA 90262
Or email signed copies to: [email protected]. Applications and attachments submitted or received after the above - stated time will not be accepted or considered. Please contact Maria Quinonez, City Clerk, at ( 310) 603-0220 ext. 510 if you have any questions.

INDIVIDUALS WITH DISABILITIES REQUIRING ANY ACCOMMODATION TO

PARTICIPATE IN THE APPLICATION AND SELECTION PROCESS MUST

INFORM THE CITY OF LYNWOOD AT THE TIME THIS APPLICATION IS SUBMITTED. INDIVIDUALS NEEDING SUCH ACCOMMODATIONS MUST

DOCUMENT THE NEED FOR SUCH ACCOMMODATIONS INCLUDING THE TYPE

AND EXTENT OF ACCOMMODATIONS NEEDED TO COMPLETE THE

APPLICATION FORM, PARTICIPATE IN THE SELECTION PROCESS, OR PERFORM THE DUTIES FOR WHICH THEY ARE APPLYING FOR.

FOR OFFICE USE ONLY: Voter Registration Verified by 0 Date• Likik-CP>P2- kAA
4 City Council Regular Meeting - Page 77 of 124
City of Lynwood
11330 Bullis Road Lynwood, CA 90262
310) 603-0220
www.Iynwoodca.gov

APPLICATION FOR CITY TREASURER APPOINTMENT
Luis Gerardo Cuellar
City Council Regular Meeting - Page 78 of 124

RECEIVED
City of Lynwood bEt 2 1 2022
11330 Bullis Road Lynwood, CA 90262
310) 603-0220 CITY OF LYNWOOD
www.Iynwoodca.gov CITY CLERKS OFFICE

APPLICATION FOR CITY TREASURER APPOINTMENT
All information provided by applicant is considered a " public record" and will be included with the applicable City Council agenda materials. Personal contact information will be redacted prior to posting online.

ALL APPLICANTS MUST BE 18 YEARS OF AGE, A RESIDENT, AND REGISTERED VOTER WITHIN THE CITY OF LYNWOOD AT THE TIME OF APPLICATION. THE

APPOINTED CITY TREASURER WILL BE REQUIRED TO FILE A FAIR POLICTICAL PRACTICES COMMISSION IFPPC1 STATEMENT OF ECONOMIC INTEREST FORM 700 PURSUANT TO THE POLITICAL REFORM ACT OF 1974 WITHIN 30 DAYS OF ASSUMING OFFICE.

FILING DEADLINE IS MONDAY, JANUARY 2, 2023 AT 5:00 P.M.

Name: Luis Gerardo Cuellar
Home Address:

Phone:

City Resident: Yes X No Registered Voter: Yes X No
Email:

Education:

High School, College, or
University
Attended
From/To
Type of Degree Main Course of
Study
Mo./Year Mo./Year
University of Arizona Aug / 2012 May / 2016 Bachelor of Science Finance University of Southern California Aug 12019 May / 2020 Masters Business Other Formal Training or Education ( e.g. internship, certificate program, technical school):

United States Marine Corps Financial Management School
1 City Council Regular Meeting - Page 79 of 124

EMPLOYMENT HISTORY
Include any experience within the last 10 years and begin with most recent employer.

From: To: Annual Salary: Position Title:

Mo./Year
Dec 2014
Mo./Year
Jan 2015
Starting
0 Ending
0 Intern
Name of Employer:

City of Lynwood, Office of the City Manager
Type of Business:

Government Entity
Address:
11330 Bullis Rd. Lynwood, CA 90262
Name of Supervisor:

Arnoldo Beltran, City Manager
Phone:
310-603-0220
Number of Employees
Supervised: 0
Reason for Leaving:

Internship Complete
Description of Duties
Saved taxpayers over $ 1 million after conducting an audit on the City's Tree Trimming vendor and finding that the vendor was not fulfilling contractual requirements under direction of the City Manager.

From: To: Annual Salary: Position Title:

Mo./Year Mo./Year Starting Ending
Name of Employer: Type of Business:

Address: Name of Supervisor:

Phone: Number of Employees
Supervised:

Reason for Leaving:

Description of Duties
2 City Council Regular Meeting - Page 80 of 124
EMPLOYMENT HISTORY Continued
From: To: Annual Salary: Position Title:

Mo./Year
July 2020
Mo./Year
Present
Starting
70,000
Ending
Managing Partner
Name of Employer:

ASM Premier Consultants
Type of Business:

Consulting Firm
Address: Name of Supervisor:

None
Phone: Number of Employees
Supervised:

Project Dependant
Reason for Leaving:

N/A
Description of Duties
Guide clients through efficient structuring and successful launching of several businesses by providing training, staff augmentation, and other resources pertaining to client needs.

Ensure client businesses are operating within local and state regulations in a highly regulated industry to ensure full compliance and audit readiness.

Provide Project Management services to assist clients with vertically integrating their companies by guiding them through the license, permit, and building process.

From: To: Annual Salary: Position Title:

Mo./Year
Oct 2017
Mo./Year
May 2020
Starting
102,000
Ending Deputy Comptroller
Name of Employer:

United States Marine Corps
Type of Business:

Government Finance
Address:

Camp Pendleton, CA
Name of Supervisor:

Kevin Stier
Phone:
541-827-9166
Number of Employees
Supervised: 5-10
Reason for Leaving:

End of Service
Description of Duties
Actively managed over $ 30 million in expenditures for higher headquarter funded exercises with over $ 4 billion of assets under management.

Developed and implemented a ledger that reflects over $ 60 million of appropriated funds received from higher headquarters to provide an accurate picture of total funding broken down by appropriation.

Planned and phased the $ 20 million operational budget for Fiscal Year 2018 Budget within the constraints of 4 Congressional Continuing Resolution Authorities.

You may attach additional copies if needed.
3 City Council Regular Meeting - Page 81 of 124
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RESOLUTION NO. 2023.XXX

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF LYNWOOD APPOINTING __________________ AS THE CITY TREASURER TO FILL THE

UNEXPIRED TERM OF FORMER CITY TREASURER GABRIELA CAMACHO

WHEREAS, the City Treasurer position has become vacan t with the election of Gabriela Camacho to the City Council; and

WHEREAS, Government Code Section 36512(b) states that the City Council must either appoint a person or call for a special election within 60 -days of the position becoming vacant; and

WHEREAS, on December 20, 2022, the City Counci l decided to appoint a registered voter to be City Treasurer for the unexpired term of Gabriela Camacho and directed that the position be advertised through January 2, 2023; and

WHEREAS, the City received a total of 5 applications for City Treasurer; and

WHEREAS, the City Council will carefully review the qualifications of the applicants at its Regular open meeting on January 17, 2023 or a t a Special meeting to be determined at a future date; and

WHEREAS, the st atutory 60 -day period to appoint a City Treasurer began December 6, 2022 and ends on February 4, 2023; and

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

Section 1. The City Council of t he 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 appoints ___________, as City Treasurer to fi ll the unexpired term of former City Treasurer Gabriela Camacho conditioned upon the verification of the appointee’s eligibility to serve.

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

Section 4. This Resolution shall take full force and effect immediately upon adoption by the City Council.

Section 5. The City Clerk shall certify as to the adoption of this City Council Resolution.

City Council Regular Meeting - Page 119 of 124

PASSED, APPROVED and ADOPTED this 17th day of January, 2023.

____________________________
Oscar Flores, Mayor

ATTEST:

____________________________
Maria Quinonez, City Clerk

APPROVED AS TO FORM: APPROVED AS TO CONTENT:

___________________________ ___________________________ Noel Tapia, City Attorney Ernie Hernandez, City Manager

STATE OF CALIFORNIA )
) SS.

COUNTY OF LOS ANGELES )

I, the u ndersigned, 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 17th day of January, 2023.

AYES: COUNCIL MEMBERS

City Council Regular Meeting - Page 120 of 124
NOES:

ABSENT:

ABSTAIN:

___________________________
Maria Quinonez, City Clerk

STATE OF CALIFORNIA )
) SS.

COUNTY OF LOS ANGELES )

I, the undersigned, City Clerk of the City o f 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 Resolut ion No. 2023.XXX on file in my office and that said Resolution was adopted on the date and by the vote therein stated. Dated this 17th day of January, 2023.

___________________________
Maria Quinonez, City Clerk

City Council Regular Meeting - Page 121 of 124
Agenda Item # 13.

AGENDA STAFF REPORT
DATE:

January 17, 2023

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

SUBJECT:

REVIEW OF BOARD, COMMISSION AND COMMITTEE MEMBERS & ANNUAL

BOARDS, COMMISSIONS AND COMMITTEES LOCAL APPOINTMENT LIST Recommendation:

Staff recommends that the City Council review the list of Board and Commission members. Currently, there are various vacancies to the Boards and Commissions including the Community Development Block Grant Board, Public Safety/Traffic & Parking Commission, Personnel Board, Planning Commission and the Citizens Oversight Committee. In accordance with the rules outlined below, the City Council may make any adjustments to these Boards and Commissions, as it deems appropriate.

Additionally, staff recommends that the City Council direct staff to post the attached Lynwood Boards and Commission Appointment List pursuant to Government Code Section 54970 requirements.

Background:

At its December 20, 2022 City Council meeting, members of the City Council made appointments to the various City of Lynwood Boards and Commissions. Attached is the list showing where the vacancies exist. The Maddy Act requires that this list be posted at a accessible public location and be available to members of the public Discussion and Analysis:

Lynwood Municipal Code Subsection 2-12.4 specifies the appointment and term of members:
a.

Candidates for appointment to subsidiary public bodies shall be nominated by a council member and confirmed by a vote of the council. The appointed and confirmed candidates shall serve on the subsidiary public bodies to which they have been appointed until the earlier

of:

1. A replacement is presented to the council for confirmation by the appointing council

member;

2. The appointing council member's term in office has ended;

or

City Council Regular Meeting - Page 122 of 124

3. The resignation of an

appointee.

b.

Members of subsidiary public bodies shall hold office until their successors are appointed, qualified and take

office.

c.

Any and all provisions of this code relating to terms of office for members of subsidiary public bodies are hereby repealed and shall be governed by the provisions of this section. (Ord. #1584,

§1)

LMC

Subsection

2-12.1

(a)(2)

states

“The

city

council

may

remove

any

member

of

any

commission,

board

or

committee
at

any

time

and without
cause;
provided,
however,
that any
action of
the
city
council to
remove
a member of
the
personnel
board
from
office prior
to
the
expiration

of

his

term

shall

not

be

effective
unless
approved

by

at

least

four

(4)
councilmembers.”

Fiscal Impact:

N/A

Coordinated With:

N/A
ATTACHMENTS:

Description
Appointment List - Maddy Act 2023
City Council Regular Meeting - Page 123 of 124

BOARD, COMMISSION AND COMMITTEE APPOINTMENTS LIST THROUGH DECEMBER 31, 2023 In compliance with the requirement of the Maddy Act, pursuant to Government Code Section 54972, the following is a list of the City of Lynwood’s Boards and Commission members whose terms run through Decembe r 31, 2023. The qualifications necessary to be appointed to a Board or Commission include being a resident of the City of Lynwood and at least 18 year s of age. Appointment dates are shown following each name.

CDBG BOARD PUBLIC SAFETY/TRAFFIC
& PARKING COMMISSION

PERSONNEL BOARD PLANNING COMMISSION CITIZEN OVERSIGHT

COMMITTEE
Meets the 1st Wednesday of
each month at 6:00 p.m. in
designated location on an as
needed basis
Director: Gabriel Linares
Staff: Suzanne Trejo
Meets the 4th Thursday of each
month at 6:00 p.m. in
designated location on an as
needed basis
Director: Julian Lee
Staff: Dylan Watters
Meets the 3rd Thursday of
each month at 5:00 p.m. in
designated location

Director: Patrick Matson
Staff: Maria Salas
Meets the 2nd Tuesday of
each month at 6:00 p.m. in
designated location

Director: Gabriel Linares
Staff: Tom Fibres
Meets the 4th Wednesday of
each month at 6:00 p.m. in
designated location

Director: Gabriel Linares
Staff: Suzanne Trejo

SYLVIA RAMIREZ
Re-Appointment Date:
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Mayor Flores

FRANK CARRASCO
Re-Appointment Date:
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Mayor Flores

DEONDRA TISDALE
Re-Appointment Date:
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Mayor Flores

ARTURO RAMIREZ
Re-Appointment Date:
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Mayor Flores

DANIEL SALAZAR
Re-Appointment Date:
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Mayor Flores

CHRISTOPHER ACOSTA
Re-Appointment Date:
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Mayor Pro Tem Soto

EFREN LOPEZ
Re-Appointment Date:
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Mayor Pro Tem Soto

ROSEMILLIE LOPEZ
Re-Appointment Date:
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Mayor Pro Tem Soto

KENNETH WEST
Re-Appointment Date:
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Mayor Pro Tem Soto

ANDREA LOPEZ
Re-Appointment Date:
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Mayor Pro Tem Soto
VACANT
Appointment Date:

Term Expires: 12/31/2023
Appointed by:

Council Member Camacho
VACANT
Appointment Date:

Term Expires: 12/31/2023
Appointed by:

Council Member Camacho
VACANT
Appointment Date:

Term Expires: 12/31/2023
Appointed by:

Council Member Camacho
VACANT
Appointment Date:

Term Expires: 12/31/2023
Appointed by:

Council Member Camacho
VACANT
Appointment Date:

Term Expires: 12/31/2023
Appointed by:

Council Member Camacho
VACANT
Appointment Date:

Term Expires: 12/31/2023
Appointed by:

Council Member Munoz-
Guevara

ROWLAND BECERRA
Appointment Date: 12/20/2022
Term Expires: 12/31/2023
Appointed by:

Council Member Munoz-
Guevara
VACANT
Appointment Date:

Term Expires: 12/31/2023
Appointed by:

Council Member Munoz-
Guevara

LORRAINE MOORE
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Council Member Munoz-
Guevara
VACANT
Appointment Date:

Term Expires: 12/31/2023
Appointed by:

Council Member Munoz-
Guevara

YOLANDA RODRIGUEZ-

GONZALEZ
Re-Appointment Date:
12/20/2022
Term Expires: 01/31/2023
Appointed by:

Council Member Solache

JOE BATTLE
Re-Appointment Date:
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Council Member Solache

GARY HARDIE
Re-Appointment Date:
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Council Member Solache

ROBERT GOMEZ
Re-Appointment Date:
12/20/2022
Term Expires: 01/31/2023
Appointed by:

Council Member Solache

BRENDA RIVERA
Re-Appointment Date:
12/20/2022
Term Expires: 12/31/2023
Appointed by:

Council Member Solache

Updated: 1/9/23
City Council Regular Meeting - Page 124 of 124
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
City of Lynwood as Successor Agency
to the Lynwood Redevelopment Agency

TO BE HELD ON

January 17, 2023

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 1/12/2023 By MQ
6:00 PM

1. CALL TO ORDER

2. CERTIFICATION OF AGENDA POSTING BY SECRETARY

3. ROLL CALL OF MEMBERS
Oscar Flores, Mayor
Rita Soto
, Mayor Pro Tem
Gabriela Camacho, Council Member
Juan Munoz-Guevara
, Council Member
Jose Luis Solache, 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 Lynwood Successor Agency - Page 1 of 46
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.

4. 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:

The following is the Investment Report for the month ending December 31, 2022. This report is provided to ensure 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.

5. ADOPTION OF THE RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD OF JULY 1, 2023 TO JUNE 30, 2024 (ROPS 23-24) AND ADOPTION OF THE

ADMINISTRATIVE BUDGET
Comments:

The Successor to the Lynwood Redevelopment Agency will consider approving the Recognized Obligation Payment
Schedule (ROPS) for the period of July 1, 2023 to June 30, 2024, to facilitate the payment of "enforceable obligations". If the Successor to the Lynwood Redevelopment Agency does not submit the ROPS to the State Department of Finance (DOF) by February 1st, the Successor Agency shall be subject to a civil penalty equal to $10,000 per day for every day the schedule is not submitted to the DOF. The ROPS 23-24 has been prepared for consideration and the approval of the Successor to the Lynwood Redevelopment Agency to submit to the Second District Consolidated Oversight Board in order to meet the February 1st deadline. (FIN)

Recommendation:

Staff recommends that the City Council, as Successor to the Lynwood Redevelopment Agency, adopt the attached resolution 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, 2023 TO JUNE 30, 2024 AND ADOPTING THE ADMINISTRATIVE BUDGET”.

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 2 of 46
Agenda Item # 4.

AGENDA STAFF REPORT
DATE:

January 17, 2023

TO:

Honorable Mayor and Members of Lynwood City Council, as Successor to Lynwood Redevelopment Board

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Sheila Harding, Deputy City Treasurer

SUBJECT:

TREASURER'S MONTHLY INVESTMENT REPORT
Recommendation:

The following is the Investment Report for the month ending December 31, 2022. This report is provided to ensure 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.

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.

Discussion and Analysis:

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.

Lynwood Successor Agency - Page 3 of 46
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 & SUMMARY REPORT - DECEMBER 2022
FHN ECONOMIC REPORT - DECEMBER 2022
NRF & CONFERENCE BOARD GLOBAL - DECEMBER 2022
Lynwood Successor Agency - Page 4 of 46

ACTIVITY & PERFORMANCE SUMMARY
DECEMBER 2022

1 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 December 31, 2022.

Type Balances Held
Cash - US Bank $48,689,265.10
Cash - JPMorgan Chase Bank $8,056,091.92
Local Agency Investment Fund $9,595,678.13
FHN Investment Advisors/BNY 25,744,440 .91
TOTAL $66,341,035.15

FHN ACCOUNT SUMMARY
31-Dec 30- Nov
Market Value $35,344,239 $35,314,063
Book Value $36,481,176 $36,466,189
Variance (1,136,936) ($1,152,126)
Par Value $36,500,250 $36,492,754
Net Asset Value $96.88 $96.84
Book Yield 2.38% 2.35%
Market Yield 3.95% 3.88%
Years to Maturity 1.69 1.75
Effective Duration 1.45 1.45

FHN INVESTMENT COMPLIANCE
% %
Company Book Value of
Portfolio
Allowed
by Policy
US Treasuries 6,499,374.86 17.82% 100%
US Federal Agencies 10,450,169.07 28.65% 100%
Supranational Obligations $0.00 0% 30%
LAIF 9,595,678.13 26.30% 75%
Commercial Paper 1,478,968.63 4.05% 25%
Money Market Funds 52,571.67 0.14% 20%
Negotiable Certificates of Deposit 4,915,622.91 13.47% 30% Lynwood Successor Agency - Page 5 of 46

ACTIVITY & PERFORMANCE SUMMARY
DECEMBER 2022

2 Corporate Obligations 3,488,790.30 9.56% 30%
State and Local Governments $0.00 0% 100%
Total 36,481,175.57 100.00%

All of the City’s rated investments were rated “A” or higher by at least two rating agencies on December 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.

PURCHASES & MATURITIES
No Purchases or Redemptions for the month of December 2022.

FHN INCOME EARNED SUMMARY

December
Month End
Fiscal Year to
Date

INTEREST
Interest Received/Purchased. 7,495.34 191,919.53
Plus Accrued Interest at End of Period 165,558.38 165,558.38 Less Accrued Interest at Beginning of Period -124,829.88 -74,680.06 Interest Earned During Period 48,223.84 282,797.85

Total Adjustments for Amortization/Accretion 7,491.20 25,036.43 Total Capital Gains or Losses 0.00 0.00
Total Earnings During Period 55,715.04 307,834.28
Lynwood Successor Agency - Page 6 of 46
Quarterly Economic and Market Update
December 2022
Lynwood Successor Agency - Page 7 of 46
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* 8.6% 16.0% (7.4%)
Consumer Confidence 108.3 103.2 5.1
Gold (per ounce) $1,824.02 $1,660.61 $163.41
Dollar Index 103.52 112.12 (8.60)
U.S. Avg Regular Unleaded $3.21 $3.80 ($0.59)
Retail Sales YOY* 8.7% 8.4% 0.3%
S&P 500 3,840 3,586 7.1%
Consumer Price Index YOY* 7.6% 8.2% (0.6%)
1-5 Yr A-AAA Corporate Spread 0.69% 0.81% (0.12%)
Dow Jones 33,147 28,726 15.4%
30 Year Mortgage Rate 6.66% 5.83% 0.83%
1-5 Yr Agency Spread 0.07% 0.03% 0.04%
10 Year T-Note 3.88% 3.83% 0.04%
U.S. Fed Debt Avg Yield* 2.30% 1.99% 0.31%
3 Year T-Note 4.23% 4.29% (0.06%)
5 Year T-Note 4.01% 4.09% (0.09%)
2 Year T-Note 4.43% 4.28% 0.15%
3 Month T-Bill 4.37% 3.27% 1.10%
Labor Force Participation 62.3% 62.3% 0.0%
Effective Fed Funds Rate 4.33% 3.08% 1.25%
U.S. Payrolls Monthly Change 223,000 269,000 (46,000)
Unemployment Rate 3.5% 3.5% 0.0%
12/31/2022
Item 12/31/2022 9/30/2022 Change
2 Lynwood Successor Agency - Page 8 of 46
Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
Estimate: Bloomberg's Survey of Economists
As of: 12/31/2022
12/31/2022
-1.4

5.2 4.7

1.8 3.3

2.3 1.3

0.6 2.4

1.2 2.4

2.0 1.7

2.0 3.4

4.1 2.8

2.8 2.9

0.7 2.2

2.7 3.6

1.8 -4.6
-29.9

35.3 3.9

6.3 7.0

2.7 7.0
-1.6
-0.6

3.2 1.1

0.0 -0.6

0.0 -45
-35
-25
-15
-5
5 15
25 35
45 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
Q2 2023
Q3 2023
Percent
U.S. GDP (Quarter over Quarter Annualized)*
Estimates
3 Lynwood Successor Agency - Page 9 of 46
Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
12/31/2022
Estimate: Bloomberg's Survey of Economists
As of: 12/31/2022

8.7 8.0

4.1 4.7
-0.6

7.1 2.1

2.1 -0.7

6.9 2.6

2.6 6.1

4.4 5.8

6.5 6.6

2.7 4.9

3.1 0.2

3.3 5.3

5.6 -0.5
-0.2

5.4 4.6

5.5 3.2
-0.3

2.5 -1.8

4.6 7.2

4.2 3.5

3.5 4.2

3.7 1.9
-0.1

3.5 2.8

4.0 2.7

3.8 4.4

4.5 4.8

4.1 1.0

1.7 2.8

3.9 3.5

2.8 2.0

0.1 -2.6

2.7 1.5

2.3 1.8

2.3 2.7

1.7 2.2

2.9 2.3
-2.8

5.9 1.9
-10
-9
-8
-7
-6
-5
-4
-3
-2
-1
0 1
2 3
4 5
6 7
8 9
10 1950
1952
1954
1956
1958
1960
1962
1964
1966
1968
1970
1972
1974
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
2020
2022
Percent
U.S. Annual GDP *
1980s 3.2% 1990s 3.2% 2000s 1.9% 2010s 2.3%1960s 4.5% 1970s 3.3%1950s 4.2% 4 Lynwood Successor Agency - Page 10 of 46
Economic and Market Update
Source: Bureau of Labor Statistics
12 Month Average Job Change 375,250
12/31/2022
-22
-20
-18
-16
-14
-12
-10
-8
-6
-4
-2
0 2
4 6
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-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 Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-22
Millions
U.S. Monthly Non-Farm Payrolls YOY Change
5 Lynwood Successor Agency - Page 11 of 46
Economic and Market Update
Source: Bureau of Labor Statistics
12/31/2022
0 5
10 15
20 25
30 Jun-18
Aug-18
Oct-18
Dec-18
Feb-19
Apr-19
Jun-19
Aug-19
Oct-19
Dec-19
Feb-20
Apr-20
Jun-20
Aug-20
Oct-20
Dec-20
Feb-21
Apr-21
Jun-21
Aug-21
Oct-21
Dec-21
Feb-22
Apr-22
Jun-22
Aug-22
Oct-22
Dec-22
Percent
Unemployment Rates
U.S.A Nevada California Idaho Washington Hawaii Oregon Utah 6 Lynwood Successor Agency - Page 12 of 46
Economic and Market Update
Source: Bureau of Labor Statistics
12/31/2022
128
130
132
134
136
138
140
142
144
146
148
150
152
154
156
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
Nov-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 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
Nov-22
Percent
U.S. Labor Force Participation Rate
7 Lynwood Successor Agency - Page 13 of 46
Economic and Market Update
Source: Department of Labor and Bloomberg
12/31/2022
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 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
2022
Millions
Weekly Initial Jobless Claims
(4 Week Moving Average)
8 Lynwood Successor Agency - Page 14 of 46
Economic and Market Update
*Real: Inflation Adjusted
Source: U.S. Census Bureau Source: Conference Board
12/31/2022
-30
-20
-10
0 10
20 30
40 50
60 Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Percent
U.S. Real* Retail Sales YOY % Change
40 50
60 70
80 90
100
110
120
130
140
Jun-12
Dec-12
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Jun-22
Dec-22
Index Value
U.S. Consumer Confidence
9 Lynwood Successor Agency - Page 15 of 46
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 12/31/2022

0.0 1.0

2.0 3.0

4.0 5.0

6.0 7.0

8.0 9.0

10.0 Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-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

8.0 Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Percent
PCE and PCEC YOY % Change
PCE
PCEC
10 Lynwood Successor Agency - Page 16 of 46
Economic and Market Update
Sources: New (U.S. Census Bureau),Existing (National Assoc. of Realtors) Source: Case-Shiller Seasonally Adjusted Annual Rate
12/31/2022
0 2
4 6
8 10
12 14
16 18
20 22
24 Jul-14
Dec-14
May-15
Oct-15
Mar-16
Aug-16
Jan-17
Jun-17
Nov-17
Apr-18
Sep-18
Feb-19
Jul-19
Dec-19
May-20
Oct-20
Mar-21
Aug-21
Jan-22
Jun-22
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 Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Jun-22
New-Thousands
Existing-Millions
U.S. New and Existing Home Sales
Existing-Left
New-Right
11 Lynwood Successor Agency - Page 17 of 46
Economic and Market Update
Source: U.S. Treasury
12/31/2022
$12
$13
$14
$15
$16
$17
$18
$19
$20
$21
$22
$23
$24
$25
$26
$27
$28
$29
$30
$31
$32
$33
Dec-12
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Jun-22
Trillions
U.S. Federal Debt Outstanding

1.3 1.5

1.7 1.9

2.1 2.3

2.5 2.7
Dec-12
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Jun-22
Percent
U.S. Treasury Interest Bearing Debt Avg Rate
12 Lynwood Successor Agency - Page 18 of 46
Economic and Market Update
Fed Funds Anticipated Rate from the September 21, 2022 FOMC Meeting Source: Bloomberg
12/31/2022

2.00 2.50

3.00 3.50

4.00 4.50

5.00 5.50
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
Jun-2025
Jul-2025
Aug-2025
Sep-2025
Oct-2025
Nov-2025
Dec-2025
Jan-2026
Percent
Fed Funds FuturesFed's Anticipated Rates
Fed Funds Futures
13 Lynwood Successor Agency - Page 19 of 46
Economic and Market Update
Source: Bloomberg
Figures may not total due to rounding
12/31/2022
3Y 4.23 4.29 -0.06
30Y 3.97 3.78 0.19
5Y 4.01 4.09 -0.09
10Y

4.37 3.88 3.83 0.04
Change9/30/2212/30/22
3M
Maturity

0.154.284.432Y

0.723.994.711Y

0.833.934.766M

1.103.27

0.0 0.5

1.0 1.5

2.0 2.5

3.0 3.5

4.0 4.5

5.0 3M 6M 1Y 2Y 3Yr 5Y 10Y 30Y
Percent
U.S. Treasury Yield Curve Change
12/30/22
9/30/22
-20
0 20
40 60
80 100
120
3M
6M
1Y
2Y
3Yr
5Y
10Y
30Y
Basis Points
Basis Point Change
14 Lynwood Successor Agency - Page 20 of 46
Economic and Market Update
Source: Bloomberg
12/31/2022

0.00 0.25

0.50 0.75

1.00 1.25

1.50 1.75

2.00 2.25

2.50 2.75

3.00 3.25

3.50 3.75

4.00 4.25

4.50 4.75

5.00 Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-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

3.50 3.75

4.00 4.25

4.50 4.75
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-22
Percent
U.S. Treasury Yields: 2Y and 5Y
5Y
2Y
15 Lynwood Successor Agency - Page 21 of 46
Economic and Market Update
Source: Bloomberg
12/31/2022
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
16 Lynwood Successor Agency - Page 22 of 46
Economic and Market Update
Source: Bloomberg
12/31/2022
Global Treasury Rates
2 Year Yields 5 Year Yields 10 Year Yields

0.03%

1.22%

2.74%

2.77%

2.83%

2.89%

3.24%

3.40%

3.53%

4.05%

4.43%
-2.0% 0.0% 2.0% 4.0%
Japan
Switzlnd
Germany
Portugal
France
Spain
Italy
Australia
England
Canada
USA

0.23%

1.42%

2.57%

2.87%

2.95%

3.14%

3.41%

3.60%

3.68%

4.00%

4.00%
-1.0% 1.0% 3.0% 5.0%
Japan
Switzlnd
Germany
France
Portugal
Spain
Canada
England
Australia
Italy
USA

0.41%

1.58%

2.57%

3.11%

3.30%

3.58%

3.65%

3.66%

3.87%

4.05%

4.70%

0.0% 1.0% 2.0% 3.0% 4.0% 5.0%
Japan
Switzlnd
Germany
France
Canada
Portugal
Spain
England
USA
Australia
Italy
17 Lynwood Successor Agency - Page 23 of 46
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
12/31/2022
Current Spread is 7 Current Spread is 69
-20
0 20
40 60
80 100
120
140
160
180
Nov-08
Nov-09
Nov-10
Nov-11
Nov-12
Nov-13
Nov-14
Nov-15
Nov-16
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Nov-22
Basis Points
Spread: 1-5Yr Agency vs Treasury
0 50
100
150
200
250
300
350
400
450
500
550
600
650
Nov-08
Nov-09
Nov-10
Nov-11
Nov-12
Nov-13
Nov-14
Nov-15
Nov-16
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Nov-22
Basis Points
Spread: 1-5Yr A-AAA Corporate vs Treasury
18 Lynwood Successor Agency - Page 24 of 46
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
12/31/2022
Current Spread is 88 Current Spread is 71
0 50
100
150
200
250
300
350
400
450
500
550
600
650
700
750
800
Nov-08
Nov-09
Nov-10
Nov-11
Nov-12
Nov-13
Nov-14
Nov-15
Nov-16
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Nov-22
Basis Points
Spread: AAA Asset Backed vs Treasury
-150
-100
-50
0 50
100
150
200
250
300
Nov-08
Nov-09
Nov-10
Nov-11
Nov-12
Nov-13
Nov-14
Nov-15
Nov-16
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Nov-22
Basis Points
Spread: 0-3Yr Agency CMO vs Treasury
19 Lynwood Successor Agency - Page 25 of 46
Economic and Market Update
Source: Bloomberg
12/31/2022
-7.0
-1.9
-0.1

0.6 0.7 0.9 1.6 1.9 2.0 2.4

4.3 4.7 4.8

7.4 7.6

8.6 9.0 9.7

10.8 15.8 15.9

17.7 (10)
(5)
0 5
10 15
20 Percent
Selected Sector Quarterly Total Returns
20 Lynwood Successor Agency - Page 26 of 46
Economic and Market Update
Source: Bloomberg
12/31/2022
-32.6 -31.2
-26.2
-21.9 -21.2
-18.2 -18.0 -16.2 -15.2 -14.4 -13.1 -13.0 -12.2 -12.2
-7.0 -5.6 -3.9
-0.6

0.9 9.5

17.5 29.0
(40)
(30)
(20)
(10)
0 10
20 30
40 Percent
Selected Sector Year-Over-Year Total Returns
21 Lynwood Successor Agency - Page 27 of 46
Economic and Market Update
Sources: Bloomberg, FHN Main Street
12/31/2022

3.50 3.60

3.70 3.80

3.90 4.00

4.10 4.20

4.30 4.40

4.50 9/30/22
10/3/22
10/6/22
10/9/22
10/12/22
10/15/22
10/18/22
10/21/22
10/24/22
10/27/22
10/30/22
11/2/22
11/5/22
11/8/22
11/11/22
11/14/22
11/17/22
11/20/22
11/23/22
11/26/22
11/29/22
12/2/22
12/5/22
12/8/22
12/11/22
12/14/22
12/17/22
12/20/22
12/23/22
12/26/22
12/29/22
Percent
5 Year Treasury Note Yield
Yields Higher After
Bank Of Japan Raises
Cap On 10-Year Japan
Government Bonds
Core CPI Up 0.6%
Month Over Month
Fed Hikes Rates
75bpsUnemployment Rate
Dropped To 3.5%, The
Lowest Level In Decades
Q3 GDP Up 2.6%
Powell Says Fed May
Slow Down Pace Of
Rate Hikes
Treasuries Post Biggest
Annual Loss Ever, As
Inflation Takes Toll
CPI YoY Up 7.1% Versus
Expected 7.3%, Beating
Expectations
San Francisco Fed's Daly
Says Rate Pause Is Off
The Table
October CPI 0.4% MoM
Core 0.3%
22 Lynwood Successor Agency - Page 28 of 46
Economic and Market Update
Sources: Bloomberg, FHN Financial, FHN Main Street
12/31/2022
28,000
29,000
30,000
31,000
32,000
33,000
34,000
35,000
9/30/22
10/3/22
10/6/22
10/9/22
10/12/22
10/15/22
10/18/22
10/21/22
10/24/22
10/27/22
10/30/22
11/2/22
11/5/22
11/8/22
11/11/22
11/14/22
11/17/22
11/20/22
11/23/22
11/26/22
11/29/22
12/2/22
12/5/22
12/8/22
12/11/22
12/14/22
12/17/22
12/20/22
12/23/22
12/26/22
12/29/22
Dow Jones Industrial Average
Sales Forecast By Best Buy
Dampens Concerns High
Inflation Would Lead To
Poor Holiday Shopping
Season
Upbeat Corporate Earnings
And Economic Data Cause
Stocks To Rally
August Job
Openings Fall To 14-
Month Low
Powell Says Fed Could
Slow Down Pace Of
Interest Rate Hikes As
Early As December
University Of Michigan Inflation
Expectations Rise For First Time
In Seven Months
Lower Than Expected
October CPI Raises Hopes
For Slower Tightening
Apple Gains On Earnings
Help Push Stocks Higher
Smaller Than Expected
Increase In CPI Lifts
Investor Confidence
Pace Of Rate Hikes
Expected To Slow
23 Lynwood Successor Agency - Page 29 of 46
Disclosure
This report represents the opinions of FHN Financial Main Street Advisors, LLC and should not be considered predictive of any future market performance. Opinions are subject to change without notice. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered investment advice or a recommendation of any particular security, investment strategy, or investment product.

Although this information has been obtained from sources which we believe to be reliable, we do not guarantee its accuracy, a nd it may be incomplete or condensed.

This is for informational purposes only and is not intended as an offer or solicitation with respect to the purchase or sale of any security. All herein listed securities are subject to availability and change in price. Past performance is not indicative of future results, and changes in any assumpt ions may have a material effect on projected results. Ratings on all securities are subject to change.

FHN Financial Capital Markets, FHN Financial Portfolio Advisors, and FHN Financial Municipal Advisors are divisions of First Horizon Bank. FHN Financial Securities Corp., FHN Financial Main Street Advisors, LLC, and FHN Financial Capital Assets Corp. are wholly owned subsidiaries of First Horizo n Bank. FHN Financial Securities Corp. is a member of FINRA and SIPC — http://www.sipc.org/.

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PROVIDERS SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY WITH RESPECT TO THE QUALITY, ADEQUACY, ACCURACY, TIMELINESS OR COM PLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN "AS IS" BASIS AND SUBSCRIBER'S USE IS AT SUBSCRIBER'S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, E NDORSE, OR RECOMMEND FHN FINANCIAL MAIN STREET ADVISORS, LLC, OR ANY OF ITS PRODUCTS OR SERVICES. 24 Lynwood Successor Agency - Page 30 of 46
1 MONTHLY ECONOMIC REVIEW
DECEMBER 2022

NATIONAL RETAIL FEDERATION
After two straight quarters of year-over-year decline, the third quarter’s 2.6% annualized growth in gross domestic product was a solid improvement and much better than expected. The third quarter’s results clearly dispelled the notion that the U.S. economy is in a recession, and the silver lining was the ongoing resiliency in consumption. Even though consumers made fewer purchases, they continued to spend on both goods and services and helped lift GDP. A strong labor market, rising wages and access to excess savings built up during the pandemic have given households strong balance sheets that have helped spending continue despite inflation and higher interest rates.

Nonetheless, the economy is cooling and interest-sensitive sectors, in particular, have seen a significant pullback in spending. This has been especially notable in housing, where the Federal Reserve's aggressive efforts to rein in inflation have resulted in a sharp rise in mortgage rates that have left many potential buyers unable to afford a home. Correspondingly, builder confidence in the market for newly built single-family homes posted its 11th straight monthly decline in November and builders are cutting back on single-family construction.

GDP is expected to grow very gradually in the closing months of 2022, at best about half of what was recorded in the third quarter. Consumers are stepping back to a degree and changing how they allocate their resources, spending more on food and less on other retail goods. At the same time, spending on services has been hearty in recent months and there is no reason to expect that it will moderate even with the continued upward pace of service sector inflation.

Even with inflation, the willingness to spend has been stable for the better part of this year, with retail sales growing 7.5% year over year for the first 10 months. That is on track with NRF’s forecasts that overall, 2022 retail sales and November-December holiday sales will both grow between 6% and 8% over 2021. The pace slowed to 6.5% in October, but that was largely due to the comparison against strong early holiday shopping in 2021.

Many eyes have focused on October’s inflation data, and a range of measures was better than expected.

The big questions are whether inflation has peaked, and will it be coming down? The Consumer Price Index was up 7.7% year over year, down from 8.2% in September for the lowest inflation level since January. At the same time, core inflation (which excludes food and energy) was at 6.3%, down from September’s 40-year high of 6.6%. Meanwhile, average hourly earnings for October were up 4.7% year over year compared with 5% in September, also sending a message that inflation may be receding.

While these changes were all in the right direction, it is too soon to see if they are the beginning of a stable downward trend.

Overall job growth has clearly slowed since the start of the year, but labor demand is not cooling as quickly as the Fed – and markets – would like. Additions are moderating but job openings bounced back in September to 10.7 million from 10.3 million in August. The labor market eased somewhat in October as payrolls increased by 261,000.

Lynwood Successor Agency - Page 31 of 46
2 It is hard to anticipate whether the Fed’s monetary tightening will lead to a recession or how bad one might be if it does occur. The risk is clearly elevated by the current framework of rate hikes, but the full effects remain to be seen and one key is how much slowing in the labor market is needed to bring wage growth in line with the Fed’s long-run inflation goals.

As the labor market slows further, as expected in 2023, income growth should slow with it. The good news is that slower job gains should sap momentum from both consumer spending and rising labor costs, hopefully reducing inflationary pressure.

Even though both may slow, employment will still be growing, and consumer spending should remain positive. There will be economic hardships, and some may feel like they are in a recession. But for those who have jobs and feel secure about their employment, careful spending will continue. The downside risk is that “sticky” wages and prices for services – both tend to stay up once they go up – will keep inflation aloft and push the Fed to hold rates higher for longer.

So, what does this all mean? The slowdown in economic growth in 2022 combined with the expansion in the labor market have clearly helped bring economic activity in better balance with labor. But there is a long journey ahead between where we are now and where we need to be. If inflation pressures continue to lessen, the Fed may not be inclined to persist with aggressive interest rate hikes, but that remains to be seen. In the meantime, if prices for gas, groceries and other products decelerate, we will all be able to breathe a little easier.

CONFERENCE BOARD GLOBAL ECONOMIC REPORT
Global real GDP growth is slowing rapidly, from 5 percent year over year in Q3 of 2021 to 3.3 percent in Q3 of 2022. As headwinds to global growth are intensifying, we expect yearly global GDP growth to moderate further to about 2 percent from Q4 2022 onward. Headwinds include persistent inflationary pressures limiting demand and production, very rapid tightening of global financial conditions, and low levels of business and consumer confidence in large economies around the world.

The Conference Board Global Leading Economic Index has contracted for a couple of months now, pointing to rising risks of a downturn. Our forecast for global GDP is for 3.2 percent growth in 2022 and

2.1 percent in 2023. Global growth of 2.1 percent does not formally constitute a global recession, but if achieved it would be the weakest growth rate since 2001 (outside of global recession years 2009 and 2020). In 2024, the global economy likely will experience a modest revival to 2.7 percent growth as shocks related to the pandemic, inflation, and monetary tightening fade. However, growth rates in 2024 After growing by an estimated 1.9 percent in 2022, real GDP is forecast to stagnate for the full year of 2023 and pick up again in 2024 with 1.7 percent growth.

Europe
Europe has likely entered into recession as of Q4 2022 and probably will remain so into the early part of 2023. European economies expected to experience recession include large economies such as Italy, Germany, and the UK, as well as smaller economies such as Czech Republic, Denmark, Hungary, Poland, Romania, Sweden, and Switzerland. CEO confidence fell to an all-time low in H2 2022, reflecting the Lynwood Successor Agency - Page 32 of 46
3 challenging outlook ahead. Still, a variety of factors including fading supply chain woes, a robust labor market, and fiscal stimulus portend a short and shallow recession.

After growing by an estimated 3.5 percent in 2022, real GDP is forecast to slow to 0.2 percent growth for the full year of 2023 and pick up again in 2024 with 1.1 percent growth.

China
The Chinese economy has been buffeted by significant challenges from the pandemic, housing, and external trade in 2022. Businesses and consumers chafed at mobility restrictions and lockdowns, and the government has responded by softening its dynamic zero-COVID-19 policies. Confidence among multinational company CEOs improved in H2 2022 in anticipation of better economic performance in 2023. Still, China is not ready to fully shift away from the polices, given low vaccination rates among the elderly and widespread fear of the virus among the general population. Even once restrictions are lifted, there will be an adjustment period as the fear factor subsides. This points to H2 2023 as the period for a resurgence of consumer spending on services, limiting full-year 2023 growth.

After growing by an estimated 2.7 percent in 2022, real GDP is forecast to pick up to 5.1 percent growth for the full year of 2023 and 4.8 percent for 2024.

Emerging Markets
Economic conditions for economies outside China, Europe, and the US are expected to be mixed. While Asian economies apart from China have fared well from reopening, postpandemic, slowing external demand as the US and Europe head toward recession is beginning to cloud growth prospects. The same is true for Latin American economies dependent upon trade with the US and in commodities, whose prices have retreated from early-year peaks. Tighter monetary policy and political instability threatening fiscal outlooks are also troubling select Latin American economies. Elsewhere, Turkey will experience materially slower growth in 2023, but it will avoid recession. Russia and Ukraine will remain in recession due to the ongoing conflict, sanctions (Russia), and widespread destruction (Ukraine).

Lynwood Successor Agency - Page 33 of 46
Agenda Item # 5.

AGENDA STAFF REPORT
DATE:

January 17, 2023

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 RECOGNIZED OBLIGATION PAYMENT SCHEDULE FOR THE PERIOD OF JULY 1, 2023 TO JUNE 30, 2024 (ROPS 23-24) AND ADOPTION OF THE

ADMINISTRATIVE BUDGET
Recommendation:

Staff recommends that the City Council, as Successor to the Lynwood Redevelopment Agency, adopt the attached resolution 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, 2023 TO JUNE 30, 2024 AND ADOPTING THE ADMINISTRATIVE BUDGET”.

Background:

On June 27, 2012, the State Legislature passed AB 1484, the redevelopment budget trailer bill. The primary purpose of AB 1484 is to make technical and substantive amendments to ABx1 26. AB 1484 contains significant new requirements and harsh financial penalties on the Successor Agency and the City if certain provisions under AB 1484 are not carried out. Per Section 34177(m) of the Health and Safety Code, the Recognized Obligation Payment Schedule (ROPS) must be submitted by the Successor Agency, after approval by the oversight board, to the State Department of Finance (DOF), State Controller, County Administrative Officer, and the County Auditor- Controller (CAC) no later than 90 days before the date of property tax distribution.

On September 22, 2015, the Governor approved Senate Bill No. 107 (SB 107). SB 107 makes several changes to the Redevelopment Agency (RDA) dissolution process. One of the key changes was changing the ROPS to an annual submittal. Pursuant to Section 34177(o)(1) of the Health and Safety Code, commencing with the ROPS covering the period from July 1, 2016 to June 30, 2017, inclusive, and for each period from July 1 to June 30, inclusive thereafter, a Successor Agency shall submit an Oversight Board approved ROPS to the Department of Finance and to the County Auditor-Controller no later than February 1st of each year.

Discussion and Analysis:

Lynwood Successor Agency - Page 34 of 46
ROPS
To facilitate the payment of “enforceable obligations” a Successor Agency is required to prepare a ROPS. The general rule under ABx1 26 and AB 1484 is that Successor Agencies can only make payments on enforceable obligations listed in the ROPS by the funds identified in the ROPS. SB 107 expanded types of enforceable obligations that may be included in the ROPS.

Enforceable obligations include, but are not limited to, the following items:

1 .

Bonds;
2 .

Loans or moneys borrowed by the redevelopment agency for lawful purpose; 3 .

Payments required by the federal government, preexisting obligations to the State, or obligations imposed by state law, payments that are made by the county-auditor controller, or legal enforceable payments required in connection with the agencies’ employees
4 .

Judgments or settlements entered by a court or binding arbitration; 5 .

Agreement or Contract entered into prior to June 28, 2011 with a third party; 6 .

Contracts or agreements necessary for the administration or operation of the Successor Agency; 7 .

Amounts borrowed from or payment owing to the Low and Moderate Income Housing Fund (LMIHF); 8 .

Agreement between a city that created the former redevelopment agency and the former redevelopment agency; and
9 .

Loan from the City to the Successor Agency for administrative costs, enforceable obligations, or project- related expenses at the city’s discretion only to the extent that the Successor Agency receives an insufficient distribution of Redevelopment Property Tax Trust Fund (RPTTF) or other approved sources are insufficient to pay approved enforceable obligations. Such loans placed on the ROPS reduces the Administrative Cost Allowance given to the Successor Agency.

Under SB 107, contracts or agreements between the City, County, or City and County that created the Redevelopment Agency can now be included. Repayments of City and former Agency loans will only be granted once the Successor Agency receives a Finding of Completion (FOC) from the DOF. On December 16, 2015, the DOF notified the City that the FOC had been granted.

Administrative Budget
Pursuant to 34177(j), a Successor Agency is required to prepare a proposed administrative budget and submit it to the Oversight Board for its approval. SB 107 limits the Successor Agency’s administrative cost allowance to an amount not to exceed 3% of the actual property tax distributed to the Successor Agency for payment of enforceable obligations, reduced by the Successor Agency’s administrative cost allowance and loan payments made to the City that created the Redevelopment Agency and limit a Successor Agency’s annual administrative costs to an amount not to exceed 50% of the total RPTTF distributed to pay enforceable obligations.

Fiscal Impact:

If a Successor Agency does not submit a ROPS by the deadline, the City that created the Redevelopment Agency shall be subject to a civil penalty equal to $10,000 per day for every day the schedule is not submitted to the DOF. Additionally, if an Agency does not submit a ROPS within 10 days of the deadline, the maximum administrative cost allowance for that period will be reduced by 25%.

It is anticipated that the ROPS will be the basis of the distribution of tax increment by the County Auditor- Controller. Not receiving funding will jeopardize the Lynwood Successor Agency’s ability to make “enforceable obligation” payments such as the bond debt service payments.

Coordinated With:

Executive Director's Office
Agency Counsel
Community Development
Lynwood Successor Agency - Page 35 of 46
ATTACHMENTS:

Description
Reso_ROPS Payment Schedule for 23-24 and Admin Budget
Lynwood Draft ROPS 23-24
Lynwood Successor Agency - Page 36 of 46
SUCCESSOR AGENCY RESOLUTION NO. __________

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, 202 3 TO JUNE 30, 2024 AND ADOPTING THE ADMINISTRATIVE BUDGET

WHEREAS, pursuant to Section 34177(o)(1) of the Health and Safety Code, commencing with the Recognized Obligation Payment Schedule (ROPS) covering the period from July 1, 2016, to June 30, 2017, inclusive, and for each period from July 1 to June 30, inclusive, thereafter, a Successor Agency shall submit an Oversight B oard- approved ROPS to the D epartment of Finance and to the County Auditor -Controller no later than February 1, 2016, and each February 1 thereafter; and

WHEREAS, pursuant to Section 34177(a)(3) of the Health and Safety Code, only those payments listed on the ROP S may be made by the Successor A gency from the funds specified in the ROPS; and

WHEREAS, pursuant to Section 34177 (m)(1)(B) of the Health and Safety Code, if the Successor Agency fails to submit a ROPS by the deadline , then the City is subject to a civil penalty of $10,000 per day for every day the schedule is not submitted ; and, in addition, if the Successor Agency fails to submit a ROPS within 10 days of the deadline the maximum administrative cost allowance for that period will be reduced by 25%; and

WHEREAS, the pursuant to 34177(j) of the Health and Safety Code, a Successor Agency is required to prepare a proposed Administrative Budget and submit it to the Oversight Board for approval.

NOW, THEREFORE, THE SUCCESSOR AGENCY DOES HEREBY RESOLVE AS FOLLOWS:

Section 1. Recitals. The Recitals set forth above are true and correct and incorporated herein by reference.

Section 2. Approval to adopt the R OPS 23-24. The Lynwood Successor Agency hereby auth orizes staff to prepare the ROPS 23-24 covering the period of July 1, 202 3 to June 30, 20 24, approves the ROPS 23-24 in the form attached hereto as Exhibit A, and to submit the completed ROPS 23-24 to the Oversight Board.

Section 3. Authorization to Make Changes. To avoid any civil penalty that may be imposed, the Lynwood Successor Agency authorizes the City Manager or designee to make changes as necessary to the ROPS 23-24 before it is adopted by the Oversight Board; and , after the ROPS 23-24 is adopted by the Oversight Board , to reflect any changes made by the Oversight Board and t o make any changes to the ROPS 23-24 thereafter, as necessary.

Lynwood Successor Agency - Page 37 of 46
2 Section 4. Posting; Transmittal to Appropriate Agencies. The City Manager or designee is authorized and direc ted to post a copy of the ROPS 23-24 on the C ity’s website. The City Manager or designee is further authorized and directed to transmit , by mail or electronic means, to the County Auditor -Controller, County Chief Administrative Officer, the State Controller, and the State Department of Finance a copy of the ROPS 23-24; and to respond to questions and request for documents and information from the County and State agencies relating to the ROPS.

Section 5. Approval to adopt the Administrative Budget. The Lynwood Successor Agency adopts the Administrative Budget as included in the ROPS 23-24.

The City Manager or designee is authorized to submit the Administrative Budget to the Oversight Board for approval. The City Manager or designee is authorized to make changes to the Administrative Budget as necessary.

Section 6. This resolution shall be effective immediately upon its adoption.

Section 7. 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 at a regular meeting of the Successor Agency of the City of Lynwood, this 17th day of January, 2023.

________________________________
Oscar Flores
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 38 of 46
Recognized Obligation Payment Schedule (ROPS 23-24) - Summary Filed for the July 1, 2023 through June 30, 2024 Period Successor Agency: Lynwood
County: Los Angeles
Current Period Requested Funding for Enforceable
Obligations (ROPS Detail)
23-24A Total
(July -
December)
23-24B Total
(January -
June)
ROPS 23-24
Total
A Enforceable Obligations Funded as Follows (B+C+D) $ - $ - $ - B Bond Proceeds - - -
C Reserve Balance - - -
D Other Funds - - -
E Redevelopment Property Tax Trust Fund (RPTTF) (F+G) $ 2,465,466 $ 569,177 $ 3,034,643 F RPTTF 2,340,466 444,177 2,784,643
G Administrative RPTTF 125,000 125,000 250,000
H Current Period Enforceable Obligations (A+E) $ 2,465,466 $ 569,177 $ 3,034,643 Certification of Oversight Board Chairman:

Name Title
Pursuant to Section 34177 (o) of the Health and Safety
code, I hereby certify that the above is a true and
accurate Recognized Obligation Payment Schedule for
the above named successor agency. /s/
Signature Date
Lynwood Successor Agency - Page 39 of 46
Lynwood
Recognized Obligation Payment Schedule (ROPS 23-24) - ROPS Detail July 1, 2023 through June 30, 2024

A B C D E F G H I J K L M N O P Q R S T U V W
Item
# Project Name Obligation
Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired
ROPS
23-24
Total
ROPS 23-24A (Jul - Dec)
23-24A
Total
ROPS 23-24B (Jan - Jun)
23-24B
Total
Fund Sources Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
$17,583,931 $3,034,643 $- $- $- $2,340,466 $125,000 $2,465,466 $- $- $- $444,177 $125,000 $569,177 6 2011 Tax
Allocation
Bonds Series
A
Bonds
Issued After
12/31/10
03/07/
2011
03/01/2038 US Bank Corp Bond issue to fund
non housing
projects
Project
Area A
- N $- - - - - - $- - - - - - $-
7 2011 Tax
Allocation
Bonds Series
A
Reserves 03/07/
2011
03/01/2038 US Bank Corp H&S34171(d)(1)(A)
To hold reserve for
future Debt Service
payment due to
uneven semi-
annual debt
service payment.

Project
Area A
- N $- - - - - - $- - - - - - $-
8 2011 Tax
Allocation
Bonds Series
B
Bonds
Issued After
12/31/10
03/07/
2011
03/01/2038 US Bank Corp Bond issue to fund
housing projects
Project
Area A
- N $- - - - - - $- - - - - - $-
11 1999 City and
Agency
Cooperation
Agreement
(#7)
City/County
Loan (Prior
06/28/11),
Cash
exchange
09/07/
1999
09/30/2019 City of
Lynwood
Loan to carry out
3100 E. Imperial
Hwy project
(34167(d)(2) H&S)
Project
Area A
338,836 N $- - - - - - $- - - - - - $-
15 Agreement -
The Gardens

OPA/DDA/
Construction
02/23/
2009
02/23/2064 Atlantic
Gardens
formerly
Cedars
Engineering
Annual Rental
Subsidy (The
Gardens). Rental
apartment housing
to qualified
seniors. Low and
Very Low Income.

Project
Area A &
Alameda
920,400 N $23,010 - - - - - $- - - - 23,010 - $23,010
20 Notice of Entry
of Judgment -
Rogel v LRA
(Case No.

BS106592)

SEE NOTES
FOR

SUPPLEMENT
Litigation 03/23/
2009
06/30/2015 Housing
Authority:

LMIHAF
Re. Notice of
Ruling Re. Order
March 23, 2009
and Notice of Entry
of Judgment April
23, 2013 . Taking
into account units
already
constructed, 65
units remain to be
produced by March
31, 2015. 51 units
must be restricted
to very low income.

Project
Area A &
Alameda
- N $- - - - - - $- - - - - - $-
22 Order
Awarding
Plaintiffs
Litigation 03/23/
2009
06/30/2015 Counsels for
Plaintiffs
(Public
Order Awarding
Plaintiffs Attorneys'
Fees and Costs.

Project
Area A &
Alameda
1,322,411 N $206,968 - - - 103,484 - $103,484 - - - 103,484 - $103,484 Lynwood Successor Agency - Page 40 of 46

A B C D E F G H I J K L M N O P Q R S T U V W
Item
# Project Name Obligation
Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired
ROPS
23-24
Total
ROPS 23-24A (Jul - Dec)
23-24A
Total
ROPS 23-24B (Jan - Jun)
23-24B
Total
Fund Sources Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Attorneys'
Fees and
Costs.(Case
No.

BS106592)

SEE NOTES
FOR

SUPPLEMENT
Counsel Law
Center)
23 Notice of Entry
of Judgment -
Rogel v LRA
(Case No.

BS106592)

SEE NOTES
FOR

SUPPLEMENT
Litigation 03/23/
2009
06/30/2015 Consultant to
serve as
"Administrator"
Re. Notice of
Ruling Re. Order
March 23, 2009
and Notice of Entry
of Judgment April
23, 2013 . Court
Ruling requires
hiring of
"Administrator."
Project
Area A &
Alameda
150,000 N $150,000 - - - 75,000 - $75,000 - - - 75,000 - $75,000 60 Administrative
Cost
Allowance
Admin
Costs
07/01/
2016
06/30/2018 Various
staffing cost,
vendors, City
of Lynwood, &
misc.
expenses.

County Auditor
Controller did not
allocate an
administrative cost
allowance in the
2nd ROPS
because the DOF
approved RPTTF
exceeds actual tax
increment
distribution. H & S
34171 (b) limits
administrative
expenses to 3% for
2012-13 per DOF
Project
Area A
and
Alameda
250,000 N $250,000 - - - - 125,000 $125,000 - - - - 125,000 $125,000 76 Property
Disposition of
Successor
Agency
properties
Property
Dispositions
07/01/
2016
06/30/2018 Various
Vendors,
Agency
Counsel ,
misc. cost and
staffing cost
Preparation of
Successor Agency
property for
disposal including
maintenance,
fencing, listing,
posting etc.

Project
Area A &
Alameda
- N $- - - - - - $- - - - - - $-
86 2011 Tax
Allocation
Bonds Series
B
Bonds
Issued After
12/31/10
03/07/
2011
03/01/3038 US Bank Corp H&S34171(d)(1)(A)
To hold reserve for
Debt Service
payment due to
uneven semi-
annual debt
service payment.

Assist in the debt
service coverage
ratio for continuing
disclosure.

Project
Area A &
Alaemda
- N $- - - - - - $- - - - - - $-
87 Difference RPTTF 01/01/ 06/30/2017 Various Per DOF direction Project 427,269 N $427,269 - - - 427,269 - $427,269 - - - - - $- Lynwood Successor Agency - Page 41 of 46

A B C D E F G H I J K L M N O P Q R S T U V W
Item
# Project Name Obligation
Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired
ROPS
23-24
Total
ROPS 23-24A (Jul - Dec)
23-24A
Total
ROPS 23-24B (Jan - Jun)
23-24B
Total
Fund Sources Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
between
approved
actual RPTTF
funding
received and
DOF approved
enforceable
obligations
Shortfall 2016 vendors,
staffing cost,
legal costs,
and others
to list difference
between approved
enforceable
obligations and
actual RPTTF
Area A
and
Alameda
92 Tax Allocation
Revenue
Refunding
Bonds (Project
Area A),
Series 2013 A
Revenue
Bonds
Issued After
12/31/10
12/24/
2013
09/01/2028 US Bank Corp Refunding of 1999
Tax Allocation
Bonds Project
Area A. Tax
Allocation
Revenue
Refunding Bonds
(Project Area A),
Series 2013 A
Project
Area A
- N $- - - - - - $- - - - - - $-
93 Tax Allocation
Revenue
Refunding
Bonds (Project
Area A),
Series 2013 A
-Reserve
Reserves 12/24/
2013
09/01/2028 US Bank Corp H&S34171(d)(1)(A)
To hold reserve for
Debt Service
payment due to
uneven semi-
annual debt
service payment.

Assist in the debt
service coverage
ratio for continuing
disclosure.

Project
Area A
- N $- - - - - - $- - - - - - $-
94 Alameda
Project Area
Tax Allocation
Refunding
Bonds, Series
2013A
Revenue
Bonds
Issued After
12/31/10
12/24/
2013
09/01/2024 US Bank Corp Refunding of 1999
Tax Allocation
Alameda bonds.

Alameda Project
Area Tax Allocation
Refunding Bonds,
Series 2013A
Alameda - N $- - - - - - $- - - - - - $-
95 Alameda
Project Area
Tax Allocation
Refunding
Bond, Series
2013A-
Reserve
Revenue
Bonds
Issued After
12/31/10
12/24/
2013
09/01/2024 US Bank Corp H&S34171(d)(1)(A)
To hold reserve for
Debt Service
payment due to
uneven semi-
annual debt
service payment.

Assist in the debt
service coverage
ratio for continuing
disclosure.

Alameda - N $- - - - - - $- - - - - - $-
101 2010
Promissory
Note
City/County
Loan (Prior
06/28/11),
Cash
exchange
05/04/
2010
06/30/2014 City of
Lynwood
2010 Promissory
Note between the
City and former
Lynwood
Redevelopment
Project
Area A
1,214,903 N $- - - - - - $- - - - - - $-
Lynwood Successor Agency - Page 42 of 46

A B C D E F G H I J K L M N O P Q R S T U V W
Item
# Project Name Obligation
Type
Agreement
Execution
Date
Agreement
Termination
Date
Payee Description Project
Area
Total
Outstanding
Obligation
Retired
ROPS
23-24
Total
ROPS 23-24A (Jul - Dec)
23-24A
Total
ROPS 23-24B (Jan - Jun)
23-24B
Total
Fund Sources Fund Sources
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Bond
Proceeds
Reserve
Balance
Other
Funds RPTTF Admin
RPTTF
Agency
102 2022 Tax
Allocation
Refunding
Bonds
Revenue
Bonds
Issued After
12/31/10
10/27/
2022
09/01/2031 US Bank Corp Refunding of Tax
Allocation Bonds
(Project Area A),
2011 Series A;
Taxable Tax
Allocation Bonds
(Housing Projects),
2011 Series B; Tax
Allocation
Revenue
Refunding Bonds
(Project Area A),
Series 2013A; Tax
Allocation
Revenue
Refunding Bonds
(Alameda Project
Area), Series
2013A
Project
Area A
and
Alamaded
12,960,112 N $1,977,396 - - - 1,734,713 - $1,734,713 - - - 242,683 - $242,683 Lynwood Successor Agency - Page 43 of 46
Lynwood
Recognized Obligation Payment Schedule (ROPS 23-24) - Report of Cash Balances July 1, 2020 through June 30, 2021
(Report Amounts in Whole Dollars)
Pursuant to Health and Safety Code section 34177 (l), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation.

A B C D E F G H
ROPS 20-21 Cash Balances
(07/01/20 - 06/30/21)
Fund Sources
Comments
Bond Proceeds Reserve Balance Other Funds RPTTF
Bonds issued
on or before
12/31/10
Bonds issued
on or after
01/01/11
Prior ROPS
RPTTF and
Reserve
Balances retained
for future
period(s)
Rent, grants,
interest, etc.

Non-Admin
and Admin

1 Beginning Available Cash Balance (Actual 07/01/20)
RPTTF amount should exclude "A" period distribution
amount.
-
2 Revenue/Income (Actual 06/30/21)
RPTTF amount should tie to the ROPS 20-21 total
distribution from the County Auditor-Controller
5,311,908 2G: Amount includes received Agency
RPTTF and County held funds for Bond
payments; $4,358,510 for Period A; $953,398
for Period B.
3 Expenditures for ROPS 20-21 Enforceable Obligations
(Actual 06/30/21)
8,598,243 3G: Includes total SA expenditures and tax
increment withheld by County for bond
payments: $2,594,628 withheld; $6,003,615
SA expenditures.
4 Retention of Available Cash Balance (Actual 06/30/21) RPTTF amount retained should only include the amounts
distributed as reserve for future period(s)
5 ROPS 20-21 RPTTF Prior Period Adjustment
RPTTF amount should tie to the Agency's ROPS 20-21 PPA
form submitted to the CAC
No entry required 183,797 G5: Taken from PPA submitted on 9.29.2022. 6 Ending Actual Available Cash Balance (06/30/21) $- $- $- $- $(3,470,132) Lynwood Successor Agency - Page 44 of 46
Pursuant to Health and Safety Code section 34177 (l), Redevelopment Property Tax Trust Fund (RPTTF) may be listed as a source of payment on the ROPS, but only to the extent no other funding source is available or when payment from property tax revenues is required by an enforceable obligation.

A B C D E F G H
ROPS 20-21 Cash Balances
(07/01/20 - 06/30/21)
Fund Sources
Comments
Bond Proceeds Reserve Balance Other Funds RPTTF
Bonds issued
on or before
12/31/10
Bonds issued
on or after
01/01/11
Prior ROPS
RPTTF and
Reserve
Balances retained
for future
period(s)
Rent, grants,
interest, etc.

Non-Admin
and Admin

C to F = (1 + 2 - 3 - 4), G = (1 + 2 - 3 - 4 - 5)
Lynwood Successor Agency - Page 45 of 46
Lynwood
Recognized Obligation Payment Schedule (ROPS 23-24) - Notes July 1, 2023 through June 30, 2024
Item # Notes/Comments
6 7
8 11
15 20
22 23
60 76
86 87
92 93
94 95
101
102
Lynwood Successor Agency - Page 46 of 46
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 Housing Authority

TO BE HELD ON

January 17, 2023

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 1/12/2023 By MQ
6:00 PM

1. CALL TO ORDER

2. CERTIFICATION OF AGENDA POSTING BY SECRETARY

3. ROLL CALL OF MEMBERS
Oscar Flores, Chair
Rita Soto
, Vice Chair
Gabriela Camacho, Commissioner
Juan Munoz-Guevara, Commissioner
Jose Luis Solache, 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 7

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 January 17, 2023 for FY 2022-2023. (FIN)

Recommendation:

Staff respectfully recommends that the Lynwood Housing Authority approve the warrant register dated January 17, 2023 for FY 2022-2023.

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 7
Agenda Item # 4.

AGENDA STAFF REPORT
DATE:

January 17, 2023

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 January 17, 2023 for FY 2022-2023.

Background:

N/A
Discussion and Analysis:

N/A
Fiscal Impact:

FY 2022-2023
Coordinated With:

City Manager
City Attorney
ATTACHMENTS:

Description
WARRANT RUN 01 17 2023-LH

RESOLUTION ITEM
Lynwood Housing Authority - Page 3 of 7
vchlist
01/11/2023
Bank code :

Voucher
10295
10296
10297
5:31:29PM
lhaus2
Date Vendor
1/17/2023 007223 COX, CASTLE & NICHOLSON LLP
1/17/2023 003547 KANE, BALLMER & BERKMAN
1/17/2023 012487 KEALOHA CORP .
3 Vouchers for bank code : lhaus2
Check List
Lynwood Housing Authority
Invoice PO#
559362 11-002202
27648 11-002203
1030 11-002165
Page: 1
Description/Account Amount
LEGAL SERVICES 198.95
Total: 198.95
LEGAL SERVICES 350.00
Total: 350.00
PROF & CONTRACTUAL SERVICE 1,800.00
Total: 1,800.00
Bank total: 2,348.95
Page: 1
Lynwood Housing Authority - Page 4 of 7
vchlist
01/11/2023
Bank code :

Voucher
5526
Check List
5:31:29PM Successor Agency of the Lynwood Redevelopment Agency sa usb
Date Vendor Invoice PO#
1/17/2023 003612 US BANK CORP. TRUST 6769403
6769407
1 Vouchers for bank code :
1 Vouchers in this report
sa_usb
Page: 2
Description/Account Amount
ADMINISTRATION FEE 2013A 500.00
ADMINISTRATION FEE 2013A 500.00
Total: 1,000.00
Bank total: 1,000.00
Total vouchers : 1,000.00
Page: 2
Lynwood Housing Authority - Page 5 of 7
1 RESOLUTION NO. 2022.XXX

LHA - Warrant Register Dated 01-17-2023

PASSED, APPROVED and ADOPTED this 17th day of January, 2023.

Oscar Flores, Chair

ATTEST:

_________________________
Maria Quiňonez, Ernie Hernandez,
Secretary Executive Director

APPROVED AS TO FORM:

Noel Tapia,
Authority Counsel

Lynwood Housing Authority - Page 6 of 7
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 _17th day of January, 2023, and passed by the following vote:

AYES: COMMISSIONERS MUNOZ, SOLACHE, VICE CHAIR SOTO AND CHAIR FLORES

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 __17h day of January 2023.

____________________________
Maria Quiňonez,
Secretary

Lynwood Housing Authority - Page 7 of 7
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

January 17, 2023

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 1/12/2023 By MQ
6:00 PM

1. CALL TO ORDER

2. CERTIFICATION OF AGENDA POSTING BY SECRETARY

3. ROLL CALL OF MEMBERS
Oscar Flores, President
Rita Soto
, Vice President
Gabriela Camacho, Member
Juan Munoz-Guevara
, Member
Jose Luis Solache, 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 HEARING

CONSENT CALENDAR

ALL MATTERS LISTED UNDER THE CONSENT CALENDAR WILL BE ACTED UPON BY ONE MOTION Lynwood Public Financing Authority - Page 1 of 33
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. 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 December 31, 2022. This report is provided to ensure 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.

NEW/OLD BUSINESS

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 33
Agenda Item # 5.

AGENDA STAFF REPORT
DATE:

January 17, 2023

TO:

Honorable President and Members of the Public Finance Authority

APPROVED BY:

Ernie Hernandez, City Manager

PREPARED BY:

Sheila Harding, Deputy City Treasurer

SUBJECT:

TREASURER'S MONTHLY INVESTMENT REPORT
Recommendation:

The following is the Investment Report for the month ending December 31, 2022. This report is provided to ensure 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.

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.

Discussion and Analysis:

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.

Lynwood Public Financing Authority - Page 3 of 33 Agenda Item # 2 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 & SUMMARY REPORT - DECEMBER 2022
FHN ECONOMIC REPORT - DECEMBER 2022
NRF & CONFERENCE BOARD GLOBAL - DECEMBER 2022
Lynwood Public Financing Authority - Page 4 of 33 Agenda Item # 2

ACTIVITY & PERFORMANCE SUMMARY
DECEMBER 2022

1 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 December 31, 2022.

Type Balances Held
Cash - US Bank $48,689,265.10
Cash - JPMorgan Chase Bank $8,056,091.92
Local Agency Investment Fund $9,595,678.13
FHN Investment Advisors/BNY 25,744,440 .91
TOTAL $66,341,035.15

FHN ACCOUNT SUMMARY
31-Dec 30- Nov
Market Value $35,344,239 $35,314,063
Book Value $36,481,176 $36,466,189
Variance (1,136,936) ($1,152,126)
Par Value $36,500,250 $36,492,754
Net Asset Value $96.88 $96.84
Book Yield 2.38% 2.35%
Market Yield 3.95% 3.88%
Years to Maturity 1.69 1.75
Effective Duration 1.45 1.45

FHN INVESTMENT COMPLIANCE
% %
Company Book Value of
Portfolio
Allowed
by Policy
US Treasuries 6,499,374.86 17.82% 100%
US Federal Agencies 10,450,169.07 28.65% 100%
Supranational Obligations $0.00 0% 30%
LAIF 9,595,678.13 26.30% 75%
Commercial Paper 1,478,968.63 4.05% 25%
Money Market Funds 52,571.67 0.14% 20%
Negotiable Certificates of Deposit 4,915,622.91 13.47% 30% Lynwood Public Financing Authority - Page 5 of 33 Agenda Item # 2

ACTIVITY & PERFORMANCE SUMMARY
DECEMBER 2022

2 Corporate Obligations 3,488,790.30 9.56% 30%
State and Local Governments $0.00 0% 100%
Total 36,481,175.57 100.00%

All of the City’s rated investments were rated “A” or higher by at least two rating agencies on December 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.

PURCHASES & MATURITIES
No Purchases or Redemptions for the month of December 2022.

FHN INCOME EARNED SUMMARY

December
Month End
Fiscal Year to
Date

INTEREST
Interest Received/Purchased. 7,495.34 191,919.53
Plus Accrued Interest at End of Period 165,558.38 165,558.38 Less Accrued Interest at Beginning of Period -124,829.88 -74,680.06 Interest Earned During Period 48,223.84 282,797.85

Total Adjustments for Amortization/Accretion 7,491.20 25,036.43 Total Capital Gains or Losses 0.00 0.00
Total Earnings During Period 55,715.04 307,834.28
Lynwood Public Financing Authority - Page 6 of 33 Agenda Item # 2 Quarterly Economic and Market Update
December 2022
Lynwood Public Financing Authority - Page 7 of 33 Agenda Item # 2 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* 8.6% 16.0% (7.4%)
Consumer Confidence 108.3 103.2 5.1
Gold (per ounce) $1,824.02 $1,660.61 $163.41
Dollar Index 103.52 112.12 (8.60)
U.S. Avg Regular Unleaded $3.21 $3.80 ($0.59)
Retail Sales YOY* 8.7% 8.4% 0.3%
S&P 500 3,840 3,586 7.1%
Consumer Price Index YOY* 7.6% 8.2% (0.6%)
1-5 Yr A-AAA Corporate Spread 0.69% 0.81% (0.12%)
Dow Jones 33,147 28,726 15.4%
30 Year Mortgage Rate 6.66% 5.83% 0.83%
1-5 Yr Agency Spread 0.07% 0.03% 0.04%
10 Year T-Note 3.88% 3.83% 0.04%
U.S. Fed Debt Avg Yield* 2.30% 1.99% 0.31%
3 Year T-Note 4.23% 4.29% (0.06%)
5 Year T-Note 4.01% 4.09% (0.09%)
2 Year T-Note 4.43% 4.28% 0.15%
3 Month T-Bill 4.37% 3.27% 1.10%
Labor Force Participation 62.3% 62.3% 0.0%
Effective Fed Funds Rate 4.33% 3.08% 1.25%
U.S. Payrolls Monthly Change 223,000 269,000 (46,000)
Unemployment Rate 3.5% 3.5% 0.0%
12/31/2022
Item 12/31/2022 9/30/2022 Change
2 Lynwood Public Financing Authority - Page 8 of 33 Agenda Item # 2 Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
Estimate: Bloomberg's Survey of Economists
As of: 12/31/2022
12/31/2022
-1.4

5.2 4.7

1.8 3.3

2.3 1.3

0.6 2.4

1.2 2.4

2.0 1.7

2.0 3.4

4.1 2.8

2.8 2.9

0.7 2.2

2.7 3.6

1.8 -4.6
-29.9

35.3 3.9

6.3 7.0

2.7 7.0
-1.6
-0.6

3.2 1.1

0.0 -0.6

0.0 -45
-35
-25
-15
-5
5 15
25 35
45 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
Q2 2023
Q3 2023
Percent
U.S. GDP (Quarter over Quarter Annualized)*
Estimates
3 Lynwood Public Financing Authority - Page 9 of 33 Agenda Item # 2 Economic and Market Update
* Real Rate (Inflation Adjusted)
Source: Bureau of Economic Analysis
12/31/2022
Estimate: Bloomberg's Survey of Economists
As of: 12/31/2022

8.7 8.0

4.1 4.7
-0.6

7.1 2.1

2.1 -0.7

6.9 2.6

2.6 6.1

4.4 5.8

6.5 6.6

2.7 4.9

3.1 0.2

3.3 5.3

5.6 -0.5
-0.2

5.4 4.6

5.5 3.2
-0.3

2.5 -1.8

4.6 7.2

4.2 3.5

3.5 4.2

3.7 1.9
-0.1

3.5 2.8

4.0 2.7

3.8 4.4

4.5 4.8

4.1 1.0

1.7 2.8

3.9 3.5

2.8 2.0

0.1 -2.6

2.7 1.5

2.3 1.8

2.3 2.7

1.7 2.2

2.9 2.3
-2.8

5.9 1.9
-10
-9
-8
-7
-6
-5
-4
-3
-2
-1
0 1
2 3
4 5
6 7
8 9
10 1950
1952
1954
1956
1958
1960
1962
1964
1966
1968
1970
1972
1974
1976
1978
1980
1982
1984
1986
1988
1990
1992
1994
1996
1998
2000
2002
2004
2006
2008
2010
2012
2014
2016
2018
2020
2022
Percent
U.S. Annual GDP *
1980s 3.2% 1990s 3.2% 2000s 1.9% 2010s 2.3%1960s 4.5% 1970s 3.3%1950s 4.2% 4 Lynwood Public Financing Authority - Page 10 of 33 Agenda Item # 2 Economic and Market Update
Source: Bureau of Labor Statistics
12 Month Average Job Change 375,250
12/31/2022
-22
-20
-18
-16
-14
-12
-10
-8
-6
-4
-2
0 2
4 6
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-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 Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-22
Millions
U.S. Monthly Non-Farm Payrolls YOY Change
5 Lynwood Public Financing Authority - Page 11 of 33 Agenda Item # 2 Economic and Market Update
Source: Bureau of Labor Statistics
12/31/2022
0 5
10 15
20 25
30 Jun-18
Aug-18
Oct-18
Dec-18
Feb-19
Apr-19
Jun-19
Aug-19
Oct-19
Dec-19
Feb-20
Apr-20
Jun-20
Aug-20
Oct-20
Dec-20
Feb-21
Apr-21
Jun-21
Aug-21
Oct-21
Dec-21
Feb-22
Apr-22
Jun-22
Aug-22
Oct-22
Dec-22
Percent
Unemployment Rates
U.S.A Nevada California Idaho Washington Hawaii Oregon Utah 6 Lynwood Public Financing Authority - Page 12 of 33 Agenda Item # 2 Economic and Market Update
Source: Bureau of Labor Statistics
12/31/2022
128
130
132
134
136
138
140
142
144
146
148
150
152
154
156
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
Nov-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 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
Nov-22
Percent
U.S. Labor Force Participation Rate
7 Lynwood Public Financing Authority - Page 13 of 33 Agenda Item # 2 Economic and Market Update
Source: Department of Labor and Bloomberg
12/31/2022
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 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
2022
Millions
Weekly Initial Jobless Claims
(4 Week Moving Average)
8 Lynwood Public Financing Authority - Page 14 of 33 Agenda Item # 2 Economic and Market Update
*Real: Inflation Adjusted
Source: U.S. Census Bureau Source: Conference Board
12/31/2022
-30
-20
-10
0 10
20 30
40 50
60 Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Percent
U.S. Real* Retail Sales YOY % Change
40 50
60 70
80 90
100
110
120
130
140
Jun-12
Dec-12
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Jun-22
Dec-22
Index Value
U.S. Consumer Confidence
9 Lynwood Public Financing Authority - Page 15 of 33 Agenda Item # 2 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 12/31/2022

0.0 1.0

2.0 3.0

4.0 5.0

6.0 7.0

8.0 9.0

10.0 Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-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

8.0 Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Percent
PCE and PCEC YOY % Change
PCE
PCEC
10 Lynwood Public Financing Authority - Page 16 of 33 Agenda Item # 2 Economic and Market Update
Sources: New (U.S. Census Bureau),Existing (National Assoc. of Realtors) Source: Case-Shiller Seasonally Adjusted Annual Rate
12/31/2022
0 2
4 6
8 10
12 14
16 18
20 22
24 Jul-14
Dec-14
May-15
Oct-15
Mar-16
Aug-16
Jan-17
Jun-17
Nov-17
Apr-18
Sep-18
Feb-19
Jul-19
Dec-19
May-20
Oct-20
Mar-21
Aug-21
Jan-22
Jun-22
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 Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Jun-22
New-Thousands
Existing-Millions
U.S. New and Existing Home Sales
Existing-Left
New-Right
11 Lynwood Public Financing Authority - Page 17 of 33 Agenda Item # 2 Economic and Market Update
Source: U.S. Treasury
12/31/2022
$12
$13
$14
$15
$16
$17
$18
$19
$20
$21
$22
$23
$24
$25
$26
$27
$28
$29
$30
$31
$32
$33
Dec-12
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Jun-22
Trillions
U.S. Federal Debt Outstanding

1.3 1.5

1.7 1.9

2.1 2.3

2.5 2.7
Dec-12
Jun-13
Dec-13
Jun-14
Dec-14
Jun-15
Dec-15
Jun-16
Dec-16
Jun-17
Dec-17
Jun-18
Dec-18
Jun-19
Dec-19
Jun-20
Dec-20
Jun-21
Dec-21
Jun-22
Percent
U.S. Treasury Interest Bearing Debt Avg Rate
12 Lynwood Public Financing Authority - Page 18 of 33 Agenda Item # 2 Economic and Market Update
Fed Funds Anticipated Rate from the September 21, 2022 FOMC Meeting Source: Bloomberg
12/31/2022

2.00 2.50

3.00 3.50

4.00 4.50

5.00 5.50
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
Jun-2025
Jul-2025
Aug-2025
Sep-2025
Oct-2025
Nov-2025
Dec-2025
Jan-2026
Percent
Fed Funds FuturesFed's Anticipated Rates
Fed Funds Futures
13 Lynwood Public Financing Authority - Page 19 of 33 Agenda Item # 2 Economic and Market Update
Source: Bloomberg
Figures may not total due to rounding
12/31/2022
3Y 4.23 4.29 -0.06
30Y 3.97 3.78 0.19
5Y 4.01 4.09 -0.09
10Y

4.37 3.88 3.83 0.04
Change9/30/2212/30/22
3M
Maturity

0.154.284.432Y

0.723.994.711Y

0.833.934.766M

1.103.27

0.0 0.5

1.0 1.5

2.0 2.5

3.0 3.5

4.0 4.5

5.0 3M 6M 1Y 2Y 3Yr 5Y 10Y 30Y
Percent
U.S. Treasury Yield Curve Change
12/30/22
9/30/22
-20
0 20
40 60
80 100
120
3M
6M
1Y
2Y
3Yr
5Y
10Y
30Y
Basis Points
Basis Point Change
14 Lynwood Public Financing Authority - Page 20 of 33 Agenda Item # 2 Economic and Market Update
Source: Bloomberg
12/31/2022

0.00 0.25

0.50 0.75

1.00 1.25

1.50 1.75

2.00 2.25

2.50 2.75

3.00 3.25

3.50 3.75

4.00 4.25

4.50 4.75

5.00 Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-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

3.50 3.75

4.00 4.25

4.50 4.75
Dec-17
Mar-18
Jun-18
Sep-18
Dec-18
Mar-19
Jun-19
Sep-19
Dec-19
Mar-20
Jun-20
Sep-20
Dec-20
Mar-21
Jun-21
Sep-21
Dec-21
Mar-22
Jun-22
Sep-22
Dec-22
Percent
U.S. Treasury Yields: 2Y and 5Y
5Y
2Y
15 Lynwood Public Financing Authority - Page 21 of 33 Agenda Item # 2 Economic and Market Update
Source: Bloomberg
12/31/2022
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
16 Lynwood Public Financing Authority - Page 22 of 33 Agenda Item # 2 Economic and Market Update
Source: Bloomberg
12/31/2022
Global Treasury Rates
2 Year Yields 5 Year Yields 10 Year Yields

0.03%

1.22%

2.74%

2.77%

2.83%

2.89%

3.24%

3.40%

3.53%

4.05%

4.43%
-2.0% 0.0% 2.0% 4.0%
Japan
Switzlnd
Germany
Portugal
France
Spain
Italy
Australia
England
Canada
USA

0.23%

1.42%

2.57%

2.87%

2.95%

3.14%

3.41%

3.60%

3.68%

4.00%

4.00%
-1.0% 1.0% 3.0% 5.0%
Japan
Switzlnd
Germany
France
Portugal
Spain
Canada
England
Australia
Italy
USA

0.41%

1.58%

2.57%

3.11%

3.30%

3.58%

3.65%

3.66%

3.87%

4.05%

4.70%

0.0% 1.0% 2.0% 3.0% 4.0% 5.0%
Japan
Switzlnd
Germany
France
Canada
Portugal
Spain
England
USA
Australia
Italy
17 Lynwood Public Financing Authority - Page 23 of 33 Agenda Item # 2 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
12/31/2022
Current Spread is 7 Current Spread is 69
-20
0 20
40 60
80 100
120
140
160
180
Nov-08
Nov-09
Nov-10
Nov-11
Nov-12
Nov-13
Nov-14
Nov-15
Nov-16
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Nov-22
Basis Points
Spread: 1-5Yr Agency vs Treasury
0 50
100
150
200
250
300
350
400
450
500
550
600
650
Nov-08
Nov-09
Nov-10
Nov-11
Nov-12
Nov-13
Nov-14
Nov-15
Nov-16
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Nov-22
Basis Points
Spread: 1-5Yr A-AAA Corporate vs Treasury
18 Lynwood Public Financing Authority - Page 24 of 33 Agenda Item # 2 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
12/31/2022
Current Spread is 88 Current Spread is 71
0 50
100
150
200
250
300
350
400
450
500
550
600
650
700
750
800
Nov-08
Nov-09
Nov-10
Nov-11
Nov-12
Nov-13
Nov-14
Nov-15
Nov-16
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Nov-22
Basis Points
Spread: AAA Asset Backed vs Treasury
-150
-100
-50
0 50
100
150
200
250
300
Nov-08
Nov-09
Nov-10
Nov-11
Nov-12
Nov-13
Nov-14
Nov-15
Nov-16
Nov-17
Nov-18
Nov-19
Nov-20
Nov-21
Nov-22
Basis Points
Spread: 0-3Yr Agency CMO vs Treasury
19 Lynwood Public Financing Authority - Page 25 of 33 Agenda Item # 2 Economic and Market Update
Source: Bloomberg
12/31/2022
-7.0
-1.9
-0.1

0.6 0.7 0.9 1.6 1.9 2.0 2.4

4.3 4.7 4.8

7.4 7.6

8.6 9.0 9.7

10.8 15.8 15.9

17.7 (10)
(5)
0 5
10 15
20 Percent
Selected Sector Quarterly Total Returns
20 Lynwood Public Financing Authority - Page 26 of 33 Agenda Item # 2 Economic and Market Update
Source: Bloomberg
12/31/2022
-32.6 -31.2
-26.2
-21.9 -21.2
-18.2 -18.0 -16.2 -15.2 -14.4 -13.1 -13.0 -12.2 -12.2
-7.0 -5.6 -3.9
-0.6

0.9 9.5

17.5 29.0
(40)
(30)
(20)
(10)
0 10
20 30
40 Percent
Selected Sector Year-Over-Year Total Returns
21 Lynwood Public Financing Authority - Page 27 of 33 Agenda Item # 2 Economic and Market Update
Sources: Bloomberg, FHN Main Street
12/31/2022

3.50 3.60

3.70 3.80

3.90 4.00

4.10 4.20

4.30 4.40

4.50 9/30/22
10/3/22
10/6/22
10/9/22
10/12/22
10/15/22
10/18/22
10/21/22
10/24/22
10/27/22
10/30/22
11/2/22
11/5/22
11/8/22
11/11/22
11/14/22
11/17/22
11/20/22
11/23/22
11/26/22
11/29/22
12/2/22
12/5/22
12/8/22
12/11/22
12/14/22
12/17/22
12/20/22
12/23/22
12/26/22
12/29/22
Percent
5 Year Treasury Note Yield
Yields Higher After
Bank Of Japan Raises
Cap On 10-Year Japan
Government Bonds
Core CPI Up 0.6%
Month Over Month
Fed Hikes Rates
75bpsUnemployment Rate
Dropped To 3.5%, The
Lowest Level In Decades
Q3 GDP Up 2.6%
Powell Says Fed May
Slow Down Pace Of
Rate Hikes
Treasuries Post Biggest
Annual Loss Ever, As
Inflation Takes Toll
CPI YoY Up 7.1% Versus
Expected 7.3%, Beating
Expectations
San Francisco Fed's Daly
Says Rate Pause Is Off
The Table
October CPI 0.4% MoM
Core 0.3%
22 Lynwood Public Financing Authority - Page 28 of 33 Agenda Item # 2 Economic and Market Update
Sources: Bloomberg, FHN Financial, FHN Main Street
12/31/2022
28,000
29,000
30,000
31,000
32,000
33,000
34,000
35,000
9/30/22
10/3/22
10/6/22
10/9/22
10/12/22
10/15/22
10/18/22
10/21/22
10/24/22
10/27/22
10/30/22
11/2/22
11/5/22
11/8/22
11/11/22
11/14/22
11/17/22
11/20/22
11/23/22
11/26/22
11/29/22
12/2/22
12/5/22
12/8/22
12/11/22
12/14/22
12/17/22
12/20/22
12/23/22
12/26/22
12/29/22
Dow Jones Industrial Average
Sales Forecast By Best Buy
Dampens Concerns High
Inflation Would Lead To
Poor Holiday Shopping
Season
Upbeat Corporate Earnings
And Economic Data Cause
Stocks To Rally
August Job
Openings Fall To 14-
Month Low
Powell Says Fed Could
Slow Down Pace Of
Interest Rate Hikes As
Early As December
University Of Michigan Inflation
Expectations Rise For First Time
In Seven Months
Lower Than Expected
October CPI Raises Hopes
For Slower Tightening
Apple Gains On Earnings
Help Push Stocks Higher
Smaller Than Expected
Increase In CPI Lifts
Investor Confidence
Pace Of Rate Hikes
Expected To Slow
23 Lynwood Public Financing Authority - Page 29 of 33 Agenda Item # 2 Disclosure
This report represents the opinions of FHN Financial Main Street Advisors, LLC and should not be considered predictive of any future market performance. Opinions are subject to change without notice. Forecasts, estimates, and certain information contained herein are based upon proprietary research and should not be considered investment advice or a recommendation of any particular security, investment strategy, or investment product.

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PROVIDERS SHALL NOT BE SUBJECT TO ANY DAMAGES OR LIABILITY WITH RESPECT TO THE QUALITY, ADEQUACY, ACCURACY, TIMELINESS OR COM PLETENESS OF THE INDICES OR THE INDEX DATA OR ANY COMPONENT THEREOF, AND THE INDICES AND INDEX DATA AND ALL COMPONENTS THEREOF ARE PROVIDED ON AN "AS IS" BASIS AND SUBSCRIBER'S USE IS AT SUBSCRIBER'S OWN RISK. ICE DATA, ITS AFFILIATES AND THEIR RESPECTIVE THIRD PARTY DO NOT SPONSOR, E NDORSE, OR RECOMMEND FHN FINANCIAL MAIN STREET ADVISORS, LLC, OR ANY OF ITS PRODUCTS OR SERVICES. 24 Lynwood Public Financing Authority - Page 30 of 33 Agenda Item # 2 1 MONTHLY ECONOMIC REVIEW
DECEMBER 2022

NATIONAL RETAIL FEDERATION
After two straight quarters of year-over-year decline, the third quarter’s 2.6% annualized growth in gross domestic product was a solid improvement and much better than expected. The third quarter’s results clearly dispelled the notion that the U.S. economy is in a recession, and the silver lining was the ongoing resiliency in consumption. Even though consumers made fewer purchases, they continued to spend on both goods and services and helped lift GDP. A strong labor market, rising wages and access to excess savings built up during the pandemic have given households strong balance sheets that have helped spending continue despite inflation and higher interest rates.

Nonetheless, the economy is cooling and interest-sensitive sectors, in particular, have seen a significant pullback in spending. This has been especially notable in housing, where the Federal Reserve's aggressive efforts to rein in inflation have resulted in a sharp rise in mortgage rates that have left many potential buyers unable to afford a home. Correspondingly, builder confidence in the market for newly built single-family homes posted its 11th straight monthly decline in November and builders are cutting back on single-family construction.

GDP is expected to grow very gradually in the closing months of 2022, at best about half of what was recorded in the third quarter. Consumers are stepping back to a degree and changing how they allocate their resources, spending more on food and less on other retail goods. At the same time, spending on services has been hearty in recent months and there is no reason to expect that it will moderate even with the continued upward pace of service sector inflation.

Even with inflation, the willingness to spend has been stable for the better part of this year, with retail sales growing 7.5% year over year for the first 10 months. That is on track with NRF’s forecasts that overall, 2022 retail sales and November-December holiday sales will both grow between 6% and 8% over 2021. The pace slowed to 6.5% in October, but that was largely due to the comparison against strong early holiday shopping in 2021.

Many eyes have focused on October’s inflation data, and a range of measures was better than expected.

The big questions are whether inflation has peaked, and will it be coming down? The Consumer Price Index was up 7.7% year over year, down from 8.2% in September for the lowest inflation level since January. At the same time, core inflation (which excludes food and energy) was at 6.3%, down from September’s 40-year high of 6.6%. Meanwhile, average hourly earnings for October were up 4.7% year over year compared with 5% in September, also sending a message that inflation may be receding.

While these changes were all in the right direction, it is too soon to see if they are the beginning of a stable downward trend.

Overall job growth has clearly slowed since the start of the year, but labor demand is not cooling as quickly as the Fed – and markets – would like. Additions are moderating but job openings bounced back in September to 10.7 million from 10.3 million in August. The labor market eased somewhat in October as payrolls increased by 261,000.

Lynwood Public Financing Authority - Page 31 of 33 Agenda Item # 2 2 It is hard to anticipate whether the Fed’s monetary tightening will lead to a recession or how bad one might be if it does occur. The risk is clearly elevated by the current framework of rate hikes, but the full effects remain to be seen and one key is how much slowing in the labor market is needed to bring wage growth in line with the Fed’s long-run inflation goals.

As the labor market slows further, as expected in 2023, income growth should slow with it. The good news is that slower job gains should sap momentum from both consumer spending and rising labor costs, hopefully reducing inflationary pressure.

Even though both may slow, employment will still be growing, and consumer spending should remain positive. There will be economic hardships, and some may feel like they are in a recession. But for those who have jobs and feel secure about their employment, careful spending will continue. The downside risk is that “sticky” wages and prices for services – both tend to stay up once they go up – will keep inflation aloft and push the Fed to hold rates higher for longer.

So, what does this all mean? The slowdown in economic growth in 2022 combined with the expansion in the labor market have clearly helped bring economic activity in better balance with labor. But there is a long journey ahead between where we are now and where we need to be. If inflation pressures continue to lessen, the Fed may not be inclined to persist with aggressive interest rate hikes, but that remains to be seen. In the meantime, if prices for gas, groceries and other products decelerate, we will all be able to breathe a little easier.

CONFERENCE BOARD GLOBAL ECONOMIC REPORT
Global real GDP growth is slowing rapidly, from 5 percent year over year in Q3 of 2021 to 3.3 percent in Q3 of 2022. As headwinds to global growth are intensifying, we expect yearly global GDP growth to moderate further to about 2 percent from Q4 2022 onward. Headwinds include persistent inflationary pressures limiting demand and production, very rapid tightening of global financial conditions, and low levels of business and consumer confidence in large economies around the world.

The Conference Board Global Leading Economic Index has contracted for a couple of months now, pointing to rising risks of a downturn. Our forecast for global GDP is for 3.2 percent growth in 2022 and

2.1 percent in 2023. Global growth of 2.1 percent does not formally constitute a global recession, but if achieved it would be the weakest growth rate since 2001 (outside of global recession years 2009 and 2020). In 2024, the global economy likely will experience a modest revival to 2.7 percent growth as shocks related to the pandemic, inflation, and monetary tightening fade. However, growth rates in 2024 After growing by an estimated 1.9 percent in 2022, real GDP is forecast to stagnate for the full year of 2023 and pick up again in 2024 with 1.7 percent growth.

Europe
Europe has likely entered into recession as of Q4 2022 and probably will remain so into the early part of 2023. European economies expected to experience recession include large economies such as Italy, Germany, and the UK, as well as smaller economies such as Czech Republic, Denmark, Hungary, Poland, Romania, Sweden, and Switzerland. CEO confidence fell to an all-time low in H2 2022, reflecting the Lynwood Public Financing Authority - Page 32 of 33 Agenda Item # 2 3 challenging outlook ahead. Still, a variety of factors including fading supply chain woes, a robust labor market, and fiscal stimulus portend a short and shallow recession.

After growing by an estimated 3.5 percent in 2022, real GDP is forecast to slow to 0.2 percent growth for the full year of 2023 and pick up again in 2024 with 1.1 percent growth.

China
The Chinese economy has been buffeted by significant challenges from the pandemic, housing, and external trade in 2022. Businesses and consumers chafed at mobility restrictions and lockdowns, and the government has responded by softening its dynamic zero-COVID-19 policies. Confidence among multinational company CEOs improved in H2 2022 in anticipation of better economic performance in 2023. Still, China is not ready to fully shift away from the polices, given low vaccination rates among the elderly and widespread fear of the virus among the general population. Even once restrictions are lifted, there will be an adjustment period as the fear factor subsides. This points to H2 2023 as the period for a resurgence of consumer spending on services, limiting full-year 2023 growth.

After growing by an estimated 2.7 percent in 2022, real GDP is forecast to pick up to 5.1 percent growth for the full year of 2023 and 4.8 percent for 2024.

Emerging Markets
Economic conditions for economies outside China, Europe, and the US are expected to be mixed. While Asian economies apart from China have fared well from reopening, postpandemic, slowing external demand as the US and Europe head toward recession is beginning to cloud growth prospects. The same is true for Latin American economies dependent upon trade with the US and in commodities, whose prices have retreated from early-year peaks. Tighter monetary policy and political instability threatening fiscal outlooks are also troubling select Latin American economies. Elsewhere, Turkey will experience materially slower growth in 2023, but it will avoid recession. Russia and Ukraine will remain in recession due to the ongoing conflict, sanctions (Russia), and widespread destruction (Ukraine).

Lynwood Public Financing Authority - Page 33 of 33 Agenda Item # 2

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