Malibu City Council
August 14, 2023

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REGULAR SESSION CALL TO ORDER
Mayor Grisanti called the meeting to order at 6:32 p.m.

ROLL CALL
The following persons were recorded in attendance via teleconference by the Recording Secretary:

PRESENT: Mayor Paul Grisanti; Mayor Pro Tem Bruce Silverstein; and Councilmembers Karen Farrer, Mikke Pierson, and Steve Uhring
ALSO PRESENT: John Cotti, Interim City Attorney; Steve McClary, Interim City Manager; Ruth Quinto, Interim Assistant City Manager/City Treasurer; Kelsey Pettijohn, City Clerk; Jesse Bobbett, Community Services Director; Yolanda Bundy, Environmental Sustainability Director; Rob DuBoux, Public Works Director; Trevor Rusin, Assistant City Attorney; Elizabeth Shavelson, Deputy City Manager; Adrian Fernandez, Assistant Planning Director; and Joyce Parker-Bozylinski, Contract Planner

PLEDGE OF ALLEGIANCE
Mayor Grisanti led the Pledge of Allegiance.

RECESS TO CLOSED SESSION
Interim City Attorney Cotti reported that the meeting convened at 5:30 p.m., after which time the City Council recessed to a Closed Session pursuant to Government Code Sections 54956.9(d)(2) and 54956.95(b) with all Councilmembers present and voted unanimously to reject the claim dated January 24, 2022 brought about by Ms. Drummond and directed him to send correspondence denying the claim. He reported the Council was provided with an update on the second item on the Closed Session agenda and took no reportable action.

APPROVAL OF AGENDA
MOTION Councilmember Farrer moved, and Councilmember Pierson seconded a motion to approve the agenda. The question was called, and the motion carried unanimously.

REPORT ON POSTING OF AGENDA
City Clerk Pettijohn reported that the agenda for the meeting was properly posted on June 3, 2022, with the amended agenda posted on June 10, 2022.

ITEM 1 CEREMONIAL/PRESENTATIONS
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A. Presentation of Commendation to Shari Latta
Mayor Grisanti presented Shari Latta of Children’s Creative Workshop with a commendation for her work with children in the community.

Ms. Latta thanked the Council for its recognition.

ITEM 2.A. PUBLIC COMMENTS
Evan Contino, Burdge and Associates Architects, discussed Woolsey Fire Rebuild Option 4 and stated their firm had worked on more than 40 fire rebuild applications and most of their clients were homeowners before the Woolsey Fire. He stated that he believed the California Coastal Commission (CCC) should not base its interpretation of what constituted an existing home simply upon what existed but also take into consideration what official records deemed a legally existing structure. He stated if the project was legally permitted and there was a final permit issued it should have been considered legally vested. He discussed the Planning Verification and Administrative Plan Review (APR) processes and the types of development that could be approved through each application.

Brian Klien stated he and his wife purchased a fire-damaged lot approximately three years prior and they had worked with the City in an attempt to rebuild the house for their growing family. He stated one year prior they met with City staff and pursued their like-for-like plus-ten percent project through a Planning Verification submittal, which recently received an approval stamp and they were about to submit their APR plans. He stated they had done everything asked for by the City and had invested time, money, and energy. He discussed his family’s commitment to the Malibu community.He stated there had already been delays in the process and it was more than three- and one-half years since the fire, with over 500 homes destroyed and only 77 people had obtained their Certificate of Occupancy. He stated that they hoped the matter could be resolved so they could build their home.

Jo Drummond stated that on May 25, 2022 the California Coastal Commission’s (CCC) code enforcement office notified the City to cease the city’s practice that granted secondary exemptions for Woolsey Fire rebuilds because it violated Malibu’s Local Coastal Program (LCP) and Local Implementation Plan (LIP) and thus the Coastal Act. She stated two Councilmembers questioned plans to build much larger homes than what previously existed and why the projects weren’t going to the Planning Commission for approval without the public receiving due notice and those questions were never answered. She stated Councilmember Farrer had approved the fire rebuild codes and was using loopholes to rebuild a larger home on the fire-damaged property she purchased. She discussed fire rebuilds in the Big Rock area from the 1993 fires. She stated Councilmember Farrer’s project should have undergone the Coastal Development Permit (CDP) process, especially since it was on an Environmentally Sensitive Habitat Area (ESHA). She discussed Malibu City Council
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her code enforcement report to the CCC and stated the Planning Department needed to follow the codes. She requested the City investigate this issue.

Heather Alfano stated that she was a Malibu resident since 2015 and the mother of three children who were Malibu school students. She stated they lost their home to the Woolsey Fire and had worked tirelessly to rebuild their home. She stated that the City had a duty to help its residents to become whole again after a disaster. She discussed the challenges of rebuilding and recovering from the Woolsey Fire. She stated it made no sense to be required to wait until a fire rebuild was complete for permits to be applied for to have a pool, basement, retaining walls, upgraded fire access, safer landscaping, or as built. She stated construction of a home on a fresh lot should be a succinct process, not a piecemeal mess. She stated the permit process had not been made easy or expedited by the City and their family received their final permits only about six months prior. She questioned whether the City prioritized fire victims and implored the Council for assistance.

John Alfano stated that as a businessman in the construction industry he knew how to get things done, and from his perspective there was a staffing shortage in the City’s Planning Department. He stated the City failed drastically at getting people back into their homes. He stated that rule changes, paused applications, and overinvolvement of the CCC was unnecessary for additions such as retaining walls which were part of proper construction. He discussed the length of the permitting process and the impact it had on his family. He stated he knew that Malibu was a good city, and he had liked what they had been doing, but it was time to get involved with the Planning Department and the process moved forward and things did not change for those who already went through the process.

Doug Sandler stated that he, his wife, and their two sons had a home in Malibu Park and were part of the community for 27 years until their home was lost in the fire.

He discussed his family’s involvement with the Malibu community. He stated that he recently learned from the Planning Department that the approval process for plans like theirs, APRs, had been frozen and could not move forward in any way, which he was devastated to learn after he was told by this same Planning Department that the house they proposed would not be an issue. He stated they just wanted to come home to their community and every delay would cost them tens of thousands of dollars in addition to what they had already spent. He implored the Council to help them recover from the tragedy.

Lloyd Ahern stated that he felt Jo Drummond had walked right into a political avalanche and that she could be made a pariah. He stated that the rebuild process was slow as it was and with the CCC involved would be made unnecessarily slower.

Howard Rudzki stated he had heard different versions of what happened regarding the CCC and requested the City Council webpage clearly state the disposition of the matter concerning Ms. Drummond’s interactions with them and the City. He stated that the City should be 100 percent transparent about what had transpired and what the City would do about it moving forward.

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Kraig Hill stated that a drone hovered outside of the window of his home and that he found the intrusion disconcerting. He suggested information about rules and guidelines for drone usage within the City and near the Sheriff Department’s helicopter station be made available on the City’s website.

Scott Dittrich commented on the communications tower in the Civic Center area and stated Planning Director Mollica told him story poles were not required prior to construction because it had replaced a tower that previously existed. He stated that the old tower was very different and there were no complaints about it. He stated that there were projects that the community took exception to that had slipped through the Planning process and that should be considered by the Council when they made their Commission appointments. He stated that something was wrong with the rebuild process for it to take three years to build the same house plus ten percent and that needed to be fixed as a top priority. He stated that victims of the fire were being revictimized. He stated his friend in Flagstaff Arizona purchased a lot, constructed, and occupied the home within a one-year timeframe.

Ryan Embree stated that the antenna tower was a pole and that the County needed to be notified by the City and have it removed as unauthorized construction. He stated that the County should not have been treated differently than any other business entity as the pole was constructed for commercial purposes for profit and was not integrated into the project for stealth or camouflaged in any way. He stated he had attended the Santa Monica College Malibu Campus scoping meeting and the pole had not been included in the project and was not permittable under its current configuration. He commented on speculators who bought fire-affected lots and built a maximum square footage project for maximum economic return. He stated he understood that the homeowners affected by the fire wanted larger homes and that the additional 10 percent was automatically granted, but more than that complicated and risked delays as more City analysis and reviews would be required.

He stated that serial development took longer as more elements were added at the expense of those who waited in line to rebuild what they had or what they had plus ten percent. He stated investors who had cut in line in front of the true victims who were rebuilding for re-occupancy was the larger issue.

Josh Spiegel stated that the retraction of Option 4 made it very difficult for young families who were not extremely wealthy to enter the market. He stated that years ago a plot of land could be purchased, and a modest house built, which was no longer possible, mainly because there were very few vacant lots, and it was too expensive and time consuming. He stated that those who wanted more projects processed as a CDP were not taking had not taken into consideration that would take five to ten years, at a cost of approximately one million dollars. He stated that the City should help people and it be made easier for them to get back into their homes. He stated that he found it astounding that the person who filed the lawsuit herself had not followed the rules and had code enforcement violations on her shortterm rental property. He stated it would be helpful if the City could put a link to the agenda on the City meeting videos posted to YouTube.

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Lester Tobias stated that he had submitted a six-point piece of correspondence that legislatively discussed Option 4. He stated that the discussion came up every now and then that Malibu was overdeveloped and overrun. He stated he examined the 12 fire rebuild projects his office worked on, which represented a five-percent sample of fire rebuild projects in the City with building permits. He stated only three used the two step APR process. He stated they had an average of 52 percent larger square footage, which was a 152 percent size increase. He stated the square footage of that 52 percent larger square footage were 1500 square-foot additions.

He stated that the average final size was only 4596 square feet, when the allowable total development square footage (TDSF) of those three parcels was 6619. He stated of his 12 projects, the average allowable TDSF was 7092, and the average size of the house before it was rebuilt was 4565 square feet and the average size afterward it was rebuilt was 4967 square feet. He stated when everything was averaged out, the result was close to ten percent. He stated that based upon his personal and professional experience, the notion that everyone overbuilt had not rung true in his office. He stated if people wanted to research all of the projects that occurred in the City to prove that his office was an outlier, he could be proven wrong. He stated that his conclusion was that the real-world issue was that there was not an existential threat to Malibu. He stated if people went through the trouble of permitting and building in Malibu, they wanted a 5000 square foot house, and that was the acceptable minimum house size for most people the size that the Planning Commission agreed to deprive people of, so he did not know why anyone would disrupt fire rebuild victims’ efforts.

Terry Lucoff commented that the cumulative effect of numerous exceptions had diminished the quality of life in Malibu. He stated that the City’s Mission Statement had not been observed and urged the Council’s awareness of that fact. He stated he was upset that the Santa Monica College Malibu Campus building in the Civic Center was granted a building height of 3500 feet and that the new high school was approved as a 4000-foot building. He stated Malibu would be disintegrated by those types of development and that they should not be built. He stated that he found his experience following up with the staff of the City’s Building Department fabulous.

He stated the permit for his house took three years and as the foundation was constructed, the geologist determined one of the caissons needed to be deeper. He stated it took six to eight weeks turnaround time for approval from an outside contractor for something that the City billed as one hour of work. He stated the City needed better performance from its service providers.

Bill Sampson stated that he recalled a few months prior that several Councilmembers attacked Mayor Pro Tem Silverstein and that he was investigated for harassment which resulted in the conclusion that he had done nothing improper.

He stated that the results of the investigation were withheld for seven months. He stated that if a public figure had taken advantage of the system on a speculative rebuild for their personal aggrandizement, they should resign. He stated that what they had done may have been legal, but that it was not right. He stated that prioritization over fire victims was not right.

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Arielle Verinis stated that she spoke to the human element of fire rebuilds. She stated they purchased their fire-affected lot on Bluewater Road recently to build a home. She stated they were neither fire victims nor land speculators. She stated they could have built a 7000 square-foot house but chose to build a much smaller, 4000 square-foot one-story home to better fit the neighborhood. She stated delays were a hardship, with the payment of rent for a condominium and a mortgage on the property they planned to build on.

Mark Martin stated that he lived in Malibu for almost 25 years, had a young family, and that he was not a developer. He stated he was not interested in politics but was grateful for the Council’s work and sacrifice. He stated he was blindsided by the challenge to the legality of Option 4, and that people had spent hundreds of thousands, if not millions of dollars in pursuit of that very clear path that was laid out by the City. He stated that he heard the opposing arguments, and everyone deserved a voice, but the policy should have been disputed four years ago, and the focus should be on expediency and efficiency. He stated that although he was not a legal professional, it seemed to him that this could be a basis for a class action lawsuit, but that would not help City staff or Planners become any more efficient.

He stated there was a misconception that people who used Option 4 were faceless developers. He stated that they were part of a community who worked their whole lives to afford a home in Malibu. He stated it was a massive problem to have the rules changed. He agreed an endless loop should not exist for people to come here to develop, but a lot of residents loved the community and did not want McMansions either.

Julie Martin stated that everyone already echoed her feelings on fire rebuilds and that she had nothing more to add.

Alan Caren stated he also had nothing to add to what people already said about fire rebuilds.

Luca Iacovoni, Dustin, and Kaley were not present at the time of the meeting.

ITEM 2.B. COMMISSION / COMMITTEE / CITY MANAGER UPDATES Interim City Manager McClary reported that he attended the Malibu Public Facilities Authority meeting at the end May and that the main part of the construction on the Santa Monica College Malibu campus was scheduled to be completed in November or December and once it was, work on the interior would commence. He stated that he attended the School Safety Partnership meeting on May 27, 2022. He reported that the COVID-19 positivity rate had increased as of June 8, 2022, to 4.5 percent, which was twice that of the prior month. He stated there were 6195 new cases and hospitalizations had increased to an average of 550 per day. He stated Malibu remained within the medium community transmission level and had increased but was not yet considered high. He stated COVID-19 was still a concern and needed to be closely monitored as the summer months Malibu City Council
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approached. He reported that the City was eligible for disaster assistance from the State because of the large 2021 storm. He announced a Caltrans virtual committee meeting would be held Tuesday, June 28, 2022, from 6:00 to 7:00 p.m. on the PCH paving project which spanned from the Malibu Lagoon to Leo Carrillo Beach. He stated that he had been unable to attend the Saturday, June 4, 2022 Public Safety Expo held at City Hall, but that approximately 125 persons attended and there were vendors and a quake cottage simulator. He thanked the Public Safety staff, volunteers, professionals, Captain Jennifer Seetoo, and all the participants. He stated he attended the graduation ceremonies of Malibu Middle and High Schools and thanked the school district. He stated water restrictions were in place for outdoor watering and more information was included in the City Manager’s Update and on the City’s website.

Captain Seetoo reported that a School Safety Partnership meeting was held to discuss ideas to help protect the Malibu community. She stated Isaac Burgess from the school district, Mayor Grisanti, and Councilmember Farrer attended. She stated there would be a follow-up meeting held the following day to discuss increased school safety measures. She stated there were no threats to the Malibu schools at all, but additional personnel were present. She stated high-visibility patrols were conducted and deputies attended the graduations. She stated they wanted to ensure the students’ hard work was celebrated and that the community felt safe.

In response to Councilmember Uhring, Captain Seetoo stated that Malibu High School Principal Patrick Miller was unable to attend the first School Safety Partnership meeting but would attend the next and that she had been in contact with him.

Councilmember Farrer thanked Captain Seetoo, Lieutenant Craig Watters, Interim City Manager McClary, Assistant City Manager Toney, Principal Burgess, and Mayor Grisanti for quick coordination of the School Safety Partnership meeting.

In response to Mayor Grisanti, Captain Seetoo stated that on the prior Friday afternoon, there was a shooting and robbery at the Point Dume gas station where the suspect fled, and the incident investigated by Major Crimes.

In response to Councilmember Uhring, Captain Seetoo responded that the summer beach team at Zuma Beach would have the same level of deputy coverage, but there would be a reduction in excessive supervision.

Lieutenant Watters stated there had been an excessive level of supervisor coverage and they streamlined their efforts with no reduction in service.

ITEM 2.C. SUBCOMMITTEE REPORTS / COUNCIL COMMENTS
Councilmember Pierson thanked Ms. Latta for her work with the Children’s Creative Workshop and the difference she made in the community. He stated that he had been contacted by many community members who conveyed she would be Malibu City Council
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missed. He stated that he had been contacted by community members who indicated they were completely blindsided by the freeze on Option 4 projects, and he acknowledged people’s frustration, and stated he did not know enough about what transpired or the reasons behind it. He stated that Mr. Spiegel spoke well and agreed it was expensive and time consuming to get anything developed in Malibu and any delays were difficult. He invited the community to contact him and City staff when they felt stuck by the process. He stated that it appeared to him that the Alfano’s project was approved and if something delayed their project, they should contact him. He stated the City made efforts to get families back into their homes. He stated he was elected two days before the fire, and it had not been easy, and the City lost a huge amount of staff. He stated that it was a long and painful process, but it was of the highest priority, and he was on board with whatever it took to get them done.

He stated in response to Ms. Verinis’ comments, that accommodating young families was a high priority. He stated that he had attended the middle and high school graduations and when he saw the students and families, it was clear to him that was what it was all about. He stated he hoped there would soon be good news on the school board separation matter. He stated he toured parts of western Malibu with Interim City Manager McClary and wanted to have more of a sense of community brought back. He stated he had the opportunity to meet new Assistant City Manager Toney and he thanked him for his time.

In response to Councilmember Uhring, Interim City Attorney Cotti stated that the City received an email correspondence from Denise Gonzalez of the CCC addressed to Planning Director Mollica regarding Option 4 dated May 25, 2022. He stated Media Information Officer Matt Myerhoff issued a press release and the City had sent a letter to the CCC and requested a meeting to discuss the matter. He stated Option 4 would be brought back before the Council at a future meeting and a course of action determined.

Councilmember Uhring stated that he attended the Public Safety Expo held at City Hall the prior Saturday and thanked Public Safety Specialist Sarah Kaplan for her work on the event. He thanked poll workers who performed their election duties at City Hall and stated he found them friendly, helpful, and they did a great job and made the voting process much easier.

In response to Councilmember Uhring, Public Works Director Duboux stated California State Parks was involved in funding and the removal of the Rindge Dam and that they would be working collaboratively with the City.

In response to Councilmember Uhring, Interim City Manager McClary confirmed the signs were installed in the shopping center where the unpermitted car shows had been held and that he confirmed with Lieutenant Watters that citations were issued the prior weekend.

Councilmember Farrer thanked the public speakers for their comments and Ms.

Latta for her contribution to the community and stated she and Councilmember Pierson had sought solutions for the school and was sorry that it closed but was Malibu City Council
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glad the school year could be finished. She commented that school violence was far too prevalent, and the local community was concerned. She stated that another School Safety Partnership meeting was scheduled for the following day by Captain Seetoo and would include the Malibu Pathway director, community partners, parents, teachers, principals, the English Learner Advisory Committee (ELAC), and the Boys and Girls Club. She commented on the attempted robbery and shooting at the Point Dume gas station and that there were seven accidents on PCH on Saturday. She stated that she and Mayor Grisanti participated in the Los Angeles County City Selection Committee meeting on May 24, 2022. She stated she attended the Los Angeles County Library Commission meeting and that she was appointed to a second term. She stated that she attended a meeting on May 26, 2022, at City Hall regarding the emergency broadcast radio antenna, and Public Safety Commission Chair Chris Frost, Vice Chair Doug Stewart, Planning Director Mollica, and potential service provider Hanz Letz of Radio Malibu 99.1 FM were in attendance. She stated she would attend the next day’s School Safety Partnership meeting and would report back to the Council. She stated that on May 27, 2022, she attended the Southern California Edison Clean Energy Financing Proposal virtual meeting that a link to the presentation could be provided. She stated she had an introductory meeting with Assistant City Manager Toney and welcomed him to the City. She stated she attended the weekly School District Separation Ad Hoc Committee meetings and reported the next mediation was scheduled for Saturday, July 9, 2022. She stated she attended the Public Safety Expo on June 4, 2022, and thanked everyone involved. She stated she heard that attendance at the event was light and encouraged the community to attend future events because so much valuable information was available. She stated she attended the Malibu High School graduation ceremony and found it to be an uplifting event and community gathering. She congratulated the graduates of Malibu High School and Malibu Middle School. She detailed a timeline of events that surrounded the purchase and development of the property attributed to her located on Busch Drive. She stated that the property was put on the market in November of 2017 and the owner had architectural renderings and plans made and sold it as a package. She stated her family purchased the property in September of 2020 with the intention that her daughter and her family would move back to Malibu. She stated the property was purchased for under two percent of the asking price. She stated the City Council voted on the motions to address fire rebuilds in February 2019, a full 18 months before the property was purchased. She stated that she nor her family had done anything wrong. She stated that attention drawn to her situation when Ms.

Drummond contacted the CCC had unintended consequences for many other families who suffered for what she felt was a politically motivated attack. She stated the submissions to the City were processed by her family’s architect, and all fees were paid, and they got in line with the other applicants. She stated that no favors were sought, and none were provided.

In response to Mayor Pro Tem Silverstein, Interim City Attorney Cotti stated that if the School Safety Partnership meeting was a meeting of another body, publicly noticed, and open to the public, it would not constitute a Brown Act violation for attendance by more than three Councilmembers. He stated that he was not familiar Malibu City Council
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with the specific meeting in question so it would need to be researched for a definitive answer.

In response to Mayor Pro Tem Silverstein’s inquiry, Councilmember Farrer stated that the meeting attendees were invited based upon the recommendations of the school principals, ELAC, and faculty members. She stated that the meeting was not open to the public.

Mayor Pro Tem Silverstein stated that it was not fun to be personally attacked in public and that he empathized with Councilmember Farrer, and he appreciated her response. He stated corners were cut and laws were bent when Option 4 was implemented and that led to the unintended consequences of the difficulties people experienced with their rebuilds. He stated he thought it was done with good intentions, but there was an expression in court, “Bad facts make bad law.” He stated he hoped there was a way to help homeowners who lost their homes in the fire have their applications unfrozen expeditiously. He stated his understanding was the vast majority of the delays were for homes that did not have permits and that had not begun the process, and that issue was money, not the Planning Department.

He stated that most people who lost their homes were underinsured, they required assistance from Southern California Edison (SCE) who caused the fire, and the legal system took a long time. He stated that Jo Drummond brought what she saw as an inappropriate program to the CCC’s attention. He stated this could have been addressed properly in 2019 but the CCC would not have agreed to Option 4 had it been presented directly, so for what seemed to be a good result for the residents accomplished, no one asked them. He stated once the CCC understood the matter, they did what they would have done had it been presented to them sooner. He stated that the elimination of Option 4 would not prohibit lawful development, that it just required a Coastal Development Permit.

Mayor Grisanti stated he was involved with the School Safety Partnership and had worked with the Parent Teacher Association over the prior 12 months on school safety. He stated that he attended the middle and high school promotion ceremonies but could not attend the elementary school ceremony as it was scheduled at the same time as the middle school ceremony. He stated he attended two Zoom outreach meetings, one for the Cook Conservancy and the other for the Mountains Recreation and Conservation Authority where they sought input on what the community wanted done with their funds. He stated he attended the Public Safety Expo where he wore his Community Emergency Response Team uniform. He stated there was a better turnout when it was held at the Trancas Country Market.

He stated he participated in the City Selection Committee meeting where the removal of the Rindge Dam was discussed. He stated the State Parks plan was more sensitive to the environment than the one that was previously proposed by the Army Corps of Engineers. He stated that the Planning Department had approved 344 sets of plans, and 234 of those had permits issued. He stated there were 152 active permits that awaited inspection, and that the inspectors were working hard. He stated that there were 110 project plans that awaited review by the Planning Department and that there were 130 properties where the owners had not initiated Malibu City Council
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anything with the City and staff contacted them. He stated that the most horrible Option 4 affected case was one where the owner had been through three sets of plans, and the most recent proposed project was for what he had, plus ten percent, plus 42 feet and because of those 42 feet his project was stopped. He stated that he had attended many Council meetings where a letter from the CCC was read that stated the City had their plan and it should be administered by the City which was the action taken when Option 4 was made possible. He stated that he lived within close proximity to a number of rebuilds and having those stopped rather than finished quickly was very disruptive and he felt most of the City’s preferred houses to be finished as quickly as possible.

ITEM 3 CONSENT CALENDAR
Item Nos. 3.A.1., 3.A.2., 3.B.4., 3.B.6., 3.B.9., 3.B.12., 3.B.14., and 3.B.16. were pulled by the public.

MOTION Councilmember Pierson moved, and Councilmember Farrer seconded a motion to approve the Consent Calendar, pulling Item Nos. 3.A.1., 3.A.2., 3.B.4., 3.B.6.,

3.B.9., 3.B.12., 3.B.14., and 3.B.16. The question was called, and the motion carried unanimously.

The Consent Calendar consisted of the following items:

B. New Items

1. Waive Further Reading
Recommended Action: After the City Attorney has read the title, waive full reading of ordinances considered on this agenda for introduction on first reading and/or second reading and adoption.

2. Approve Warrants
Recommended Action: Allow and approve warrant demand numbers 65955-66165 listed on the register from the General Fund and direct the City Manager to pay out the funds to each of the claimants listed in Warrant Register No. 705 in the amount of the warrant appearing opposite their names, for the purposes stated on the respective demands in a total amount of $2,457,618.54. City of Malibu payroll check numbers 5227-5228 and ACH deposits were issued in the amount of $239,208.64.

3. Approval of Minutes
Recommended Action: Approve the minutes for the October 11, 2021 Malibu City Council Regular meeting.

5. Amendment No. 3 to Professional Services Agreement with Woodward and Curran
Recommended Action: Authorize the Mayor to executed Amendment No. 3 to the Professional Services Agreement with Woodard and Curran in the amount of $130,000 for a total not to exceed $3,659,593 to provide additional cultural resources soil investigations for the Civic Center Water Treatment Facility Phase Two project.

7. Amendment to Agreement with Hughes Research Laboratories (HRL) for Design of Civic Center Water Treatment Facility (CCWTF) Phase Two Malibu City Council
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Recommended Action: Authorize the Mayor to execute Amendment No. 1 to the Agreement with HRL to provide additional funding for the design and engineering assessment of the CCWTF Phase Two project.

8. State Senate Bill 1 (SB 1) Road Maintenance and Rehabilitation Account Funding and Project List
Recommended Action: Adopt Resolution No. 22-19 approving the Fiscal Year 2022-2023 project list for Senate Bill 1 (Road Repair and Accountability Act of 2017) Road Maintenance and Rehabilitation Account funding.

10. November 8, 2022 General Municipal Election
Recommended Action: 1) Adopt Resolution No. 22-20 calling and giving notice of the holding of a General Municipal Election to be held on Tuesday, November 8, 2022, for the election of certain officers as required by the provisions of the laws of the State of California relating to general law cities; and 2) Adopt Resolution No. 22-21 requesting the Board of Supervisors of the County of Los Angeles to consolidate a General Municipal Election to be held on November 8, 2022, with the Statewide General Election to be held on the date pursuant to California Elections Code Section 10403.

11. Amendment to Professional Services Agreement with PrimeGov Recommended Action: Authorize the Mayor to execute Amendment No. 1 to Professional Services Agreement with PrimeGov for certain projects relating to the live cast streaming of public meetings, live meeting management, and virtual public meeting capabilities in the amount of approximately $15,000.

13. Amendment to Professional Services Agreement with Landscape Development Inc. for Landscape Maintenance Services
Recommended Action: Authorize the Mayor to execute Amendment No. 3 to the Professional Services Agreement with Landscape Development Inc., extending the term of the Agreement for landscape maintenance services at City Hall, City Parks, and the Civic Center area through June 30, 2023.

15. Office Trailer Rental Lease Extension for Malibu Community Labor Exchange
Recommended Action: Direct staff to continue to the City’s rental lease with Williams Scotsman Inc. for the temporary office trailer currently used by the Malibu Community Labor Exchange in an amount not to exceed $20,000.

The following items were pulled from the consent calendar for individual consideration:

Item No. 3.A.1. and 3.A.2. were heard concurrently:

A. Previously Discussed Items

1. Coastal Development Permit No. 14-073, Variance Nos. 18-002, 18-003, 18-004, 18-008, 18-009, and Minor Modification No. 18-001 - An application for a new single-family residence and associated development Malibu City Council
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Recommended Action: Adopt Resolution No. 22-16, denying Appeal No. 21-017 upholding the Planning Commission’s denial of Coastal Development Permit No. 14-073 to construct a new 2,825-square foot, twostory, single-family residence, including a 483-square foot attached two-car garage, rooftop deck, swimming pool, spa and associated equipment, barbeque, outdoor fireplace, retaining walls, hardscaping, grading, and installation of a new alternative onsite wastewater treatment system, and denying Variance No. 18-002 for construction in excess of 18 feet in height, up to 43.25 feet for the single-family residence, and denying Variance No. 18-004 to allow the portions of the building in excess of 18 feet in height to exceed two-thirds the area below 18 feet in height located in the Rural Residential Two-Acre zoning district at 33386 Pacific Coast Highway (180 PCH, LLC).

2. Coastal Development Permit No. 14-072, Lot Merger No. 17-007, Lot Line Adjustment No. 14-004, Variance Nos. 17-050, 17-051, 18-001, 18-005, 18-006, and 18-015 – An application for a new single-family residence, associated development, lot merger, and lot line adjustment Recommended Action: Adopt Resolution No. 22-17, denying Appeal No. 21-018 upholding the Planning Commission’s denial of Coastal Development Permit No. 14-073 to construct a new 2,825-square foot, twostory, single-family residence, including a 483-square foot attached two-car garage, rooftop deck, swimming pool, spa and associated equipment, barbeque, outdoor fireplace, retaining walls, hardscaping, grading, and installation of a new alternative onsite wastewater treatment system, and denying Variance No. 17-050 for construction in excess of 18 feet in height, up to 43.25 feet for the single-family residence, and denying Variance No. 18-001 to allow the portions of the building in excess of 18 feet in height to exceed two-thirds the area below 18 feet in height located in the Rural Residential Two-Acre zoning district at 33398 Pacific Coast Highway (180 PCH, LLC).

Mayor Grisanti opened the floor for public comment.

Speakers: David Rosen, James George, and John Henning
John Alfano, Heather Alfano, Tyler Kruse, and Charals Haagen were not present at the time of the hearing.

As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

MOTION Mayor Pro Tem Silverstein moved, and Mayor Grisanti seconded a motion to continue to the June 27, 2022 Regular City Council meeting: 1) Coastal Development Permit No. 14-073, Variance Nos. 18-002, 18-003, 18-004, 18-008, 18-009, and Minor Modification No. 18-001, an application for a new single-family residence and associated development; and 2) Coastal Malibu City Council
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Development Permit No. 14-072, Lot Merger No. 17-007, Lot Line Adjustment No. 14-004, Variance Nos. 17-050, 17-051, 18-001, 18-005, 18-006, and 18-015, an application for a new single-family residence, associated development, lot merger, and lot line adjustment. The question was called, and the motion carried unanimously.

B. New Items

4. Findings to Hold Virtual City Council, Commission, Committee, Board and Other City Bodies, Meetings Under AB 361
Recommended Action: It is recommended that the City Council adopt Resolution No. 22-25, re-authorizing remote teleconferencing/virtual meetings pursuant to AB 361.

Mayor Grisanti opened the floor for public comment.

Speaker: Scott Dittrich
As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

MOTION Councilmember Pierson moved, and Councilmember Farrer seconded a motion to adopt Resolution No. 22-25, re-authorizing remote teleconferencing/virtual meetings pursuant to AB 361. The question was called and the motion carried unanimously.

6. Professional Services Agreement with CWE
Recommended Action: Authorize the Mayor to execute Professional Services Agreement with CWE for engineering design services for the Clover Heights Storm Drain Improvements Project in the amount of $149,839.

Mayor Grisanti opened the floor for public comment.

Speaker: Ryan Embree
As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council directed questions to staff.

MOTION Councilmember Pierson moved, and Councilmember Farrer seconded a motion to authorize the Mayor to execute Professional Services Agreement with CWE for engineering design services for the Clover Heights Storm Drain Improvements Project in the amount of $149,839. The question was called, and the motion carried unanimously.

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9. Broad Beach Road Biofiltration Repair Project
Recommended Action: 1) Authorize the Mayor to execute a construction contract with JTEC Corporation in the amount $281,301 for the Broad Beach Road Biofiltration Repair Project, Specification No. 2091; and 2) Authorize the Public Works Director to approve potential change orders up to 15% of contract.

Mayor Grisanti opened the floor for public comment.

Speaker: Bill Sampson
As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council directed questions to staff.

MOTION Councilmember Farrer moved, and Councilmember Pierson seconded a motion to: 1) authorize the Mayor to execute a construction contract with JTEC Corporation in the amount $281,301 for the Broad Beach Road Biofiltration Repair Project, Specification No. 2091; and 2) authorize the Public Works Director to approve potential change orders up to 15% of contract. The question was called and the motion carried unanimously.

12. Amendment to the Professional Services Agreement with FM3 Research Recommended Action: Authorize the Mayor to execute Amendment No. 1 to the Professional Services Agreement with FM3 in an amount not to exceed $25,000.

Mayor Grisanti opened the floor for public comment.

Speaker: Ryan Embree
As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council directed questions to staff.

MOTION Councilmember Pierson moved, and Councilmember Farrer seconded a motion to authorize the Mayor to execute Amendment No. 1 to the Professional Services Agreement with FM3 in an amount not to exceed $25,000. The question was called and the motion carried unanimously.

14. Amendment No. 1 with Solid Waste Solutions, Inc.

Recommended Action: Authorize the Mayor to execute Amendment No. 1 to the professional services agreement with Solid Waste Solutions, Inc. for film permit services.

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Mayor Grisanti opened the floor for public comment.

Speaker: Ryan Embree
As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council directed questions to staff.

MOTION Councilmember Pierson moved, and Councilmember Farrer seconded a motion to authorize the Mayor to execute Amendment No. 1 to the professional services agreement with Solid Waste Solutions, Inc. for film permit services.

The Council directed questions to staff and Kimberly Nilsson of Solid Waste Solutions.

The question was called, and the motion carried unanimously.

16. Commission Work Assignments for Fiscal Year 2022-2023 Recommended Action: Approve work assignments for the Harry Barovsky Memorial Youth Commission, Malibu Arts Commission, Parks and Recreation Commission, Public Safety Commission and Public Works Commission for Fiscal Year 2022-2023.

Mayor Grisanti opened the floor for public comment.

Speakers: Scott Dittrich, Lance Simmens, and Ryan Embree As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

MOTION Councilmember Farrer moved, and Councilmember Pierson seconded a motion to approve work assignments for the Harry Barovsky Memorial Youth Commission, Malibu Arts Commission, Parks and Recreation Commission, Public Safety Commission and Public Works Commission for Fiscal Year 2022-2023. The question was called, and the motion carried unanimously.

RECESS At 9:18 p.m., Mayor Grisanti recessed the meeting. The meeting resumed at 9:25 p.m. with all Councilmembers present.

ITEM 4 ORDINANCES AND PUBLIC HEARINGS
A. Proposed Budget for Fiscal Year 2022-23
Recommended Action: 1) Adopt Resolution No. 22-22 adopting the Annual Budget for Fiscal Year 2022-2023; 2) Approve the Annual Work Plan for Fiscal Year 2022- Malibu City Council
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2023; 3) Adopt Resolution No. 22-23 establishing the Appropriations Limit for Fiscal Year 2022-2023; and 4) Adopt Resolution No. 22-24 approving the Fiscal Year 2022-2023 Authorized Positions and Salary Ranges and the Information Systems Analyst, Public Safety Director, Senior Civil Engineer, Principal Permit Technician, and Development Services Manager Job Specifications.

Assistant City Manager/City Treasurer Quinto, Interim City Manager McClary, Community Services Director Bobbett, Public Works Director DuBoux, Environmental Sustainability Director Bundy, and Assistant Planning Director Fernandez presented the staff report.

Mayor Grisanti opened the floor for public comment.

Speakers: Bill Sampson, Jo Drummond, Georgia Goldfarb, and Ryan Embree As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

MOTION Councilmember Farrer moved and Councilmember Pierson seconded a motion to:
adopt Resolution No. 22-22 adopting the Annual Budget for Fiscal Year 2022- 2023; 2) approve the Annual Work Plan for Fiscal Year 2022-2023; 3) adopt Resolution No. 22-23 establishing the Appropriations Limit for Fiscal Year 2022- 2023; and 4) adopt Resolution No. 22-24 approving the Fiscal Year 2022-2023 Authorized Positions and Salary Ranges and the Information Systems Analyst, Public Safety Director, Senior Civil Engineer, Principal Permit Technician, and Development Services Manager Job Specifications.

The Council discussed the motion.

The question was called, and the motion carried unanimously.

B. 2022 Engineering and Traffic Survey (E&TS)
Recommended Action: 1) Approve and adopt the 2022 Engineering and Traffic Survey (E&TS) to establish speed limits (Speed Survey); 2) After the City Attorney reads the title, introduce on first reading Ordinance No. 500 amending Chapter

10.08 (Speed Limits) of the Malibu Municipal Code (MMC) to establish speed limits on City streets; and 3) Direct staff to schedule second reading and adoption of Ordinance No. 500 for the June 27, 2022 Regular City Council meeting.

Public Works Director DuBoux presented the staff report.

Mayor Grisanti opened the floor for public comment.

Speaker: Ryan Embree
As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

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The Council directed questions to staff.

MOTION Mayor Pro Tem Silverstein moved and Councilmember Farrer seconded a motion to: 1) approve and adopt the 2022 Engineering and Traffic Survey (E&TS) to establish speed limits (Speed Survey); 2) introduce on first reading Ordinance No. 500, as amended to add Section 2 Environmental Review stating “The City Council finds that this Ordinance is not subject to CEQA pursuant to Sections 15060(c)(2) (the activity will not result in a direct or reasonably foreseeable indirect physical change in the environment) and 15060(c)(3) (the activity is not a project as defined in Section 15378) of the CEQA Guidelines, California Code of Regulations, Title 14, Chapter 3, because it has no potential for resulting in physical change to the environment, directly or indirectly,” amending Chapter 10.08 (Speed Limits) of the Malibu Municipal Code to establish speed limits on City streets; and 3) direct staff to schedule second reading and adoption of Ordinance No. 500 for the June 27, 2022 Regular City Council meeting. The question was called and the motion carried unanimously.

C. Malibu Middle and High School Specific Plan - Final Environmental Impact Report No. 20-001, Local Coastal Program Amendment No. 21-002, General Plan Map Amendment No. 21-002, Zoning Map Amendment No. 22-001, and Zoning Text Amendment No. 22-002 - An application to redevelop and modernize the existing Malibu Middle and High School campus and former Juan Cabrillo Elementary School campus
Recommended Action: Continue this item to the June 27, 2022 City Council meeting.

This item was continued to the June 27, 2022 City Council meeting upon approval of the agenda.

ITEM 5 OLD BUSINESS
None.

ITEM 6 NEW BUSINESS
A. Short-Term Rental Ordinance Discussion (LCPA No. 19-003) Recommended Action: Provide direction to staff on discussions with California Coastal Commission staff regarding the City’s proposed Short-term Rental Ordinance (LCPA 19-003).

Contract Planner Parker-Bozylinski presented the staff report.

The Council directed questions to staff.

As there were no further questions for staff, Mayor Grisanti opened the floor for public comment.

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Speakers: Bill Sampson, Don Schmitz, Mark Dempster, Andrew Gombiner, Jo Drummond, Kraig Hill, Colin Drummond, Barbara Ann Goldstein, Steven Hakim, Scott Dittrich, Ryan Embree, Marianne Riggins, and Steve Kinsey Dorina Schiro was not present at the time of the hearing.

As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council discussed the item and directed questions to Mr. Kinsey and staff.

MOTION Mayor Pro Tem Silverstein moved and Mayor Grisanti seconded a motion to: 1) decline the California Coastal Commission’s (CCC) invitation to further weaken the Hosted Short-Term Rental Ordinance; and 2) direct staff to explain to the CCC that the Hosted Short-Term Rental Ordinance actually increases the availability of short-term rentals in Malibu and does not narrow that availability, and further explain that Malibu will be forced to begin the strict enforcement of its existing zoning laws to prohibit the short-term rental of homes in residential neighborhoods if the CCC does not approve the enabling legislation proposed by the City.

The Council discussed the motion and directed questions to staff.

The question was called, and the motion carried unanimously.

MOTION Mayor Grisanti moved and Councilmember Pierson seconded a motion to hear Item No. 6.B. after 10:30 p.m.

The Council discussed the motion.

The question was called and the motion carried unanimously.

At 11:55 p.m. Councilmember Pierson left the meeting.

B. Employment Agreement for City Manager Services between the City of Malibu and Steven L. McClary
Recommended Action: Approve the employment agreement dated June 13, 2022 for City Manager Services between the City of Malibu and Steven L. McClary and authorize the Mayor to execute the agreement on behalf of the City Council.

Staff Contact: Interim City Attorney Cotti, 456-2489, ext. 228 Interim City Attorney Cotti presented the staff report.

Mayor Grisanti opened the floor for public comment.

Speaker: Jo Drummond.

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As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council discussed the item and directed questions to staff.

MOTION Mayor Pro Tem Silverstein moved, and Mayor Grisanti second a motion to approve the employment agreement dated June 13, 2022 for City Manager Services between the City of Malibu and Steven L. McClary and authorize the Mayor to execute the agreement on behalf of the City Council.

The Council discussed the motion.

The question was called, and the motion carried 4-0, Councilmember Pierson absent.

MOTION Mayor Pro Tem Silverstein moved and Councilmember Uhring seconded a motion to hear Item No. 7.A. after 10:30 p.m. and continue Item Nos. 7.B. and 7.C. to the June 27, 2022 City Council Regular meeting.

The Council discussed the motion.

The questions was called, and the motion carried 4-0, Councilmember Pierson absent.

ITEM 7 COUNCIL ITEMS
A. Support for Fire and Emergency Preparedness-Related Legislation: Assembly Bill (AB) 2377 Deputy Director of Community Wildfire Preparedness and Mitigation and AB 2477 Minimum Operating Standards for Emergency Alerts and Warning System Providers (Mayor Grisanti)
Recommended Action: At the request of Mayor Grisanti, authorize the Mayor to send letters of support for: 1) AB 2377, a bill to expand the responsibilities of the Deputy Director of Community Wildfire Preparedness and Mitigation at the Office of the State Fire Marshall; and 2) AB 2477, a bill that would create minimum operating standards for emergency alert and warning service providers.

Mayor Grisanti presented the report and opened the floor for public comment. As there were no speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council discussed the item.

MOTION Councilmember Uhring moved, and Mayor Pro Tem Silverstein seconded a motion to authorize the Mayor to send letters of support for: 1) AB 2377, a bill to expand the responsibilities of the Deputy Director of Community Wildfire Preparedness and Mitigation at the Office of the State Fire Marshall; and 2) AB 2477, a bill that Malibu City Council
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would create minimum operating standards for emergency alert and warning service providers.

The question was called, and the motion carried 4-0, Councilmember Pierson absent.

B. Reconsideration of May 23, 2022, Council action regarding Malibu Library Set Aside Fund for Fiscal Year 2022-23 (Councilmember Uhring) Recommended Action: At the request of Councilmember Uhring, approve recommendation to reconsider the Council action of May 23, 2022, regarding Malibu Library Set Aside Fund for Fiscal Year 2022-23, and return the item to the next regularly scheduled Council meeting.

This item was continued to the June 27, 2022 City Council Regular meeting.

C. Program to Protect School Students from Gun Violence (Mayor Pro Tem Silverstein)
Recommended Action: At the request of Mayor Pro Tem Silverstein: 1) Direct staff to research consultants with expertise and experience in the area of developing programs to protect school students from gun violence; and 2) Bring back a recommendation to City Council of a consultant with such expertise and experience, with the objective of developing a plan that can be implemented, at least on a temporary basis, prior to the commencement of the 2022-2023 school year, and a more permanent plan that can be implemented over the following year, to enhance the safety of our public school students. If staff deems it appropriate, they may consult with the Chair of the Public Safety Commission and request the assistance and input of one or two members of that Commission.

This item was continued to the June 27, 2022 City Council Regular meeting.

ADJOURNMENT
At 12:09 a.m. on June 14, 2022 Mayor Grisanti adjourned the meeting.

Approved and adopted by the City Council of the
City of Malibu on __________.
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BRUCE SILVERSTEIN, Mayor
ATTEST:
_________________________________
KELSEY PETTIJOHN, City Clerk
(seal)
ATTACHMENT 2

MINUTES

MALIBU CITY COUNCIL

REGULAR MEETING
JUNE 27, 2022

TELECONFERENCED - VARIOUS LOCATIONS
6:30 P.M.

The following meeting was held pursuant to AB 361 and fully teleconferenced from various locations during the coronavirus disease (COVID-19) pandemic.

MEETING CALL TO ORDER
Mayor Grisanti called the meeting to order at 5:30 p.m.

ROLL CALL
The following persons were recorded in attendance via teleconference by the Recording Secretary:

PRESENT: Mayor Paul Grisanti; Mayor Pro Tem Bruce Silverstein; and Councilmembers Karen Farrer, Mikke Pierson, and Steve Uhring

PUBLIC COMMENT ON CLOSED SESSION
Mayor Grisanti opened the floor to public comment.

Speakers: None.

RECESS TO CLOSED SESSION
At 5:32 p.m., the Council recessed to Closed Session to discuss the following items listed on the Closed Session agenda:

Personnel Matters pursuant to Government Code Section 54957:

1. Public Employee Appointment
Title: City Attorney

REGULAR SESSION CALL TO ORDER
Mayor Grisanti called the meeting to order at 6:30 p.m.

ROLL CALL
The following persons were recorded in attendance via teleconference by the Recording Secretary:

PRESENT: Mayor Paul Grisanti; Mayor Pro Tem Bruce Silverstein; and Councilmembers Karen Farrer, Mikke Pierson, and Steve Uhring
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ALSO PRESENT: John Cotti, Interim City Attorney; Steve McClary, City Manager; Richard Mollica, Planning Director; Rob DuBoux, Public Works Director; Trevor Rusin, Assistant City Attorney; Kelsey Pettijohn, City Clerk; Matt Myerhoff, Media Information Officer; Elizabeth Shavelson, Deputy City Manager; Kate Gallo, Recreation Manager; Rebecca Evans, Administrative Assistant; Susan Dueñas, Public Safety Manager; Troy Spayd, Assistant Public Works Director/Assistant City Engineer

CLOSED SESSION REPORT
Interim City Attorney Cotti reported that the meeting convened at 5:30 p.m., after which time the Council recessed to a Closed Session pursuant to Government Code Section 54957. He stated the Council met and appointed Trevor Rusin as Interim City Attorney by a vote of 3-2, with Councilmember Uhring and Mayor Pro Tem Silverstein opposed.

PLEDGE OF ALLEGIANCE
Mayor Grisanti led the Pledge of Allegiance.

APPROVAL OF AGENDA
MOTION Mayor Pro Tem Silverstein moved, and Councilmember Farrer seconded a motion to approve the agenda with Item Nos. 7.C. and 7.D. to be heard concurrently before Item No. 2.A.

FRIENDLY AMENDMENT
Councilmember Uhring moved to amend the motion to adjourn the meeting in memory of Architect Harry Gesner.

The friendly amendment was accepted by the maker and the seconder.

The question was called, and the amended motion carried unanimously.

REPORT ON POSTING OF AGENDA
City Clerk Pettijohn reported that the agenda for the meeting was properly posted on June 17, 2022, with the amended agenda posted on June 23, 2022.

ITEM 1 CEREMONIAL/PRESENTATIONS
A. Recognition of Boys & Girls Club of Malibu 2022 Youth of the Year Candidates Mayor Grisanti presented recognitions to the Boys & Girls Club of Malibu 2022 Youth of the Year candidates.

B. Southern California Edison Wildfire Mitigation Update Southern California Edison (SEC) Government Relations Manager Andrew Malibu City Council
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Thomas presented highlights of their wildfire mitigation efforts.

The Council directed questions to Mr. Thomas regarding SEC’s coordination with the Los Angeles County Fire Department and service outages experienced in Malibu.

ITEM 7 COUNCIL ITEMS
Item Nos. 7.C. and 7.D. were heard concurrently.

C. Program to Protect School Students from Gun Violence (Mayor Pro Tem Silverstein) (Continued from June 13, 2022)
Recommended Action: At the request of Mayor Pro Tem Silverstein: 1) Direct staff to research consultants with expertise and experience in the area of developing programs to protect school students from gun violence; and 2) Bring back a recommendation to Council of a consultant with such expertise and experience, with the objective of developing a plan that can be implemented, at least on a temporary basis, prior to the commencement of the 2022-2023 school year, and a more permanent plan that can be implemented over the following year, to enhance the safety of our public school students. If staff deems it appropriate, they may consult with the Chair of the Public Safety Commission and request the assistance and input of one or two members of that Commission.

D. School Safety (Mayor Grisanti and Councilmember Farrer) Recommended Action: At the request of Mayor Grisanti and Councilmember Farrer, direct staff to issue a Request for Proposals for a pilot program to provide school security services at Malibu’s four public schools (Malibu High School, Malibu Middle School, Malibu Elementary School, and Webster Elementary School).

Mayor Pro Tem Silverstein provided a report on Item No. 7.C.

Councilmember Farrer provided a report on Item No. 7.D.

Mayor Grisanti opened the floor for public comment.

Speakers: Jo Drummond, Stacy Rouse, Kelly Pessis, Maia Zander, Ethan White, Soniya Perl, Julie Jones, Bill Sampson, Ryan Embree, Hudson Breese, and Karin Al Harden.

As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council discussed the item and directed questions to Los Angeles County Sheriff’s Captain Jennifer Seetoo and Mr. White.

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MOTION Mayor Pro Tem Silverstein moved to issue a request for proposals (RFP) for a private security service and an RFP for consulting services to increase safety for schools.

FRIENDLY AMENDMENT
Councilmember Pierson seconded the motion and moved to form an ad hoc committee of Mayor Pro Tem Silverstein and Mayor Grisanti to research school safety issues, review and provide input on RFPs, and report to the City Council on these issues during the next 45 days.

The Council discussed the motion.

The maker accepted the amendment.

The question was called, and the amended motion carried unanimously.

ITEM 2.A. PUBLIC COMMENTS
Christian Pearson questioned what the City’s plans were for the 2.3-acre portion of the La Paz Affordable Housing Overlay District Site 3 and whether the City would consider selling the property.

Bill Sampson thanked the Council for efforts that addressed school safety. He stated remarks he made regarding Councilmember Farrer’s property on Busch Drive were not political. He stated the only property he owned in Malibu was his home and that he had not taken advantage of any system. He requested she not reference his daughter in any dispute with him.

Kraig Hill thanked Interim City Attorney Cotti for his work with the Council and congratulated newly appointed Interim City Attorney Rusin. He commented on how the prior week’s Supreme Court ruling limited people’s rights. He stated the Council should hold hybrid meetings. He stated the Big Rock assessment item should be removed from the agenda due to what he felt was inadequate public notice.

Norm Haynie stated in-person Council meetings should be held because it provided a more comprehensive way to convey information to make good decisions. He stated staff’s job performance would improve if they worked in the office rather than remotely as there were distractions at home.

Lonnie Gordon commented on the communications tower in the Civic Center area and stated that from research she conducted it appeared the tower was not properly permitted, and she wanted to know who signed off on the plans and would submit a formal request for information. She inquired about the status of the City’s wireless ordinance that was submitted to the California Coastal Commission (CCC).

Pamela Conley-Ulich thanked the Councilmembersfor their service. She stated that Malibu City Council
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community safety was important and inquired when the license plate recognition cameras would be installed. She suggested a community resource officer who was a mental health professional be assigned to Library. She announced the Point Dume Parade would be held the following Monday. She stated the Community Emergency Response Team (CERT), and Rich Garvey evaluated community disaster services and fire boxes would be installed.

Ryan Embree stated he attended the Public Works Commission meeting, and the issue of wireless antenna poles were in the purview of the Public Works Commission per the Malibu Municipal Code. He stated the communications pole in the Civic Center was an example of why the Telecommunications Commission should be reestablished. He stated the pole was not properly permitted and should be dismantled and removed.

Marianne Riggins stated it was time for in-person meetings to resume citing the success of the in-person meeting the Council held on May 9, 2022. She stated speakers were provided with a better experience with the Council and it was beneficial the Council had the ability to see the speakers that were in front of them.

Howard Rudzki thanked Captain Seetoo for the presentation and her passion for school safety which was a matter of great concern to the community. He stated that the communications tower in the Civic Center was an embarrassment and suggested the City contract with someone who could focus on the development of a solution and inquired if Captain Seetoo had any additional input.

ITEM 2.B. COMMISSION / COMMITTEE / CITY MANAGER UPDATES City Manager McClary reported COVID-19 testing positivity rates, the seven-day daily case average, community transmission, and hospitalizations had increased in the County. He stated, on June 24, 2022, the number of hospitalizations was 762, up significantly from April, when they were in the low 200s. He stated deaths were trending downward. He stated at present they were not in the high-risk category, but if COVID-19 numbers were to increase to that level, additional safety measures such as indoor masking would likely be imposed. He announced a virtual Caltrans community meeting on their Pacific Coast Highway (PCH) paving project that spanned from the Malibu Lagoon to Leo Carrillo Beach would be held on Tuesday, June 28, 2022 from 6:00 p.m. to 7:00 p.m. He stated he and Planning Director Mollica met with a representative from Pepperdine University regarding their athletic center project and he would convey information to the Council as it became available. He stated he participated in CERT training and had the opportunity to become more familiar with their operations and members. He reported he attended a meeting of the Las Virgenes-Malibu Council of Governments (COG) the prior week and their governing board adopted a budget for the upcoming fiscal year. He stated he and Environmental Sustainability Director Yolanda Bundy met with the Los Angeles County Sustainability Office to learn about their programs and resources and how they could work with the City. He stated they had noted the large number of programs the City had implemented and they felt Malibu set a good Malibu City Council
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example. City staff met with CCC staff which included their legal counsel and District Director about fire rebuild policy. He stated City staff would put an item on the next Council meeting agenda for Council’s direction on those projects including those that were on hold. City staff and a representative from the Sheriff’s Department had a meeting scheduled to discuss staffing options for the planned Malibu substation. He stated that there would be an item on the August 8, 2022 Council meeting agenda to discuss options for in-person meetings.

Public Safety Director Dueñas stated the license plate recognition camera installation had been delayed in part due to compatibility issues with the Sheriff’s Department’s equipment. She reported the issues had been remedied and a purchase order for compatible cameras was forthcoming.

Planning Director Mollica provided an update on the communications tower located on the Santa Monica College (SMC) property in the Civic Center area. He stated on February 29, 2016, the Planning Commission processed a variance through a public hearing process to approve the height of that tower, which was 75 feet. He stated the project was then routed to the Council, and the entire project was appealed to the CCC in May of 2016 where they found no substantial issue with the project, and in June of 2016, the appeal was denied. He stated the Planning Department had received Mr. Embree’s correspondence which showed plans for the project, however, those were preliminary plans drafted prior to the submittal of the project application. He stated the plans that were ultimately submitted to the City and brought before the Planning Commission, Council, and CCC were on the City’s website and included the communications tower. He stated a condition was placed upon the project by the Planning Commission which required they obtain a Conditional Use Permit (CUP). He confirmed a Coastal Development Permit (CDP) had been obtained for the structure, but not a Conditional Use Permit (CUP), which was required before any antennas or radio equipment was installed on the tower. He stated a meeting with SMC was scheduled for the upcoming Thursday to discuss any reviews conducted by other agencies. He reiterated the City’s jurisdiction was limited to Planning Department approvals and that a plan check was not conducted by the City’s Building Safety Department, the plans were not reviewed by the City’s Building official, and building permits were not issued by the City as those were not within the purview of the Planning Department. He stated the site manager for Vanir Construction agreed to provide documentation that the Department of State Architects had inspected the project as was the assertion of the onsite construction team. He stated the City’s consultant had drafted a response to the CCC’s comments on the wireless ordinance and expected within a few weeks they would have sent the final letter to the CCC with a follow-up meeting scheduled if necessary for any clarification of the City’s resubmittal.

In response to Mayor Pro Tem Silverstein’s inquiry on the tower, Planning Director Mollica stated that although he did not have a survey on the height, they did a site inspection and looked at the plans and the specifications that were onsite in the construction trailer and they matched the set of plans the City approved. He stated the only difference he could find was the conceptual drawings showed a white Malibu City Council
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tower. He stated he had not found a document that noted anything regarding the color of the tower. He confirmed the shape of the structure did match what was approved by the City, that the monopole was specifically noted and the triangular antenna mount platforms were dimensioned on the plans at either 12 or 14 feet. He found the set of plans that were submitted to the City and ultimately approved by the Planning Commission, City Council, and CCC and those housed in the onsite construction trailer showed the dimensions matched. He stated that the City did not issue the building permit as it was not within the City’s jurisdiction and a building permit was not required by the City, that would be the purview of another agency.

He emphasized a CDP and a CUP were required from the City, but not a building permit. He confirmed a CUP had not been obtained from the City and further clarified that those permits required an application to City with a public hearing conducted before the Planning Commission with that decision appealable to the Council. He stated he would research whether the color complied but reiterated the approval of the structure itself had been approved, with all appeal periods expired, however use permits needed to be obtained.

Lieutenant Chad Watters reported there was a spike in vehicle burglaries during the month of May at trailheads and pocket beaches and one at Surfrider Beach. He reminded the community they should leave their vehicles locked with their belongings secured while parked at the trailheads and beaches. He cautioned surfers to not hide their keys, that they could be found and used to commit vehicle burglary.

He stated the recent armed robbery that took place on Heathercliff Road and PCH, was under investigation, and they had the suspect’s vehicle and other items of evidence inside the vehicle in their possession, but the suspect was not in custody.

He reported more vehicles were on the road during May due to the busy season but there was a reduction in traffic collisions. He reported there were three driving under the influence (DUI) collisions and seven DUI arrests. He reported a total of 23 collisions within the City, with no fatalities, and of the 923 citations issued, 718 were moving violations or hazardous citations. He stated the Sheriff’s Department established a presence and slowed people down. He reported they conducted a DUI checkpoint, a speed operation on PCH, towed a couple of vehicles, and issued citationsfor modified exhaust. He stated his entire motor team attended a California Highway Patrol class which focused on violations of speed, racing, and illegally modified vehicles and learned the State referee inspection process, which involved cited vehicles prohibited from operation until they were inspected within 30 days by the State referee. He stated that prohibited overnight campers and unpermitted roadside vendors would be cited.

Mayor Pro Tem Silverstein stated he was glad that vehicles were cited for excessive noise, and that groups of motorcyclists and cars traveling along PCH that made a huge amount of noise were prevalent. He requested a concerted effort be made all day on an upcoming weekend for noise polluters to be cited to send a message that Malibu was not a place to come and bring their noisy vehicles.

In response to Mayor Pro Tem Silverstein, Lieutenant Watters stated they had received information from residents that toward the eastern end of the city, there Malibu City Council
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had been much activity on Friday and Saturday nights, and that an operation that targeted the problem was planned for an upcoming weekend. He stated that there was an operation conducted every Sunday all along PCH that targeted noise-related activity.

In response to Mayor Grisanti, Lieutenant Watters stated that they had the license plate number of the car that hit the truck the previous Sunday morning as it was turning onto Malibu Canyon Road from PCH but the suspect had not been located.

RECESS At 9:13 p.m., Mayor Grisanti recessed the meeting. The meeting resumed at 9:23 p.m. with all Councilmembers present.

ITEM 2.C. SUBCOMMITTEE REPORTS / COUNCIL COMMENTS
Councilmember Pierson thanked the speakers and requested Christian Pearson contact him to further elaborate on her thoughts for how the parcel behind La Paz designated for affordable housing should be used. In response to Mr. Hill, he stated that he agreed that people’s rights were changing in ways that they hadn’t seen for a very long time and that it was currently a different time in the United States he found the Supreme Court’s decision was very interesting and he stated a person’s right to choose was very powerful and very personal. He agreed in-person meetings were more engaging, however that he found himself in a position where he was responsible for the wellbeing of frail family members and that he could not risk their or his own health by attending meetings in-person, indoors, and in public even with all available safety precautions taken. He stated he was a member of the Planning Commission when the SMC project was approved and would review the meeting at which the tower was approved, because despite much discussion surrounding the project, he had not recalled the tower mentioned as a problematic issue. He stated he knew there was a tower proposed that replaced the tower that had been there previously but found the finished tower shocking in appearance. He stated it was good to hear there was progress made on the cameras and he attended the original meeting with Public Safety Commissioner Chris Frost and Sheriff’s Department Captain Salvador Becerra and Lieutenant James Braden. He stated that he was glad the meeting with CCC regarding the rebuilding process had happened and was sorry there were people impacted through no fault of their own, who had thought they had done the right thing. He stated there were residents panicked that they had run out of rental money, and they were caught completely off guard. He thanked Captain Seetoo. He stated the Point Dume Fourth of July Parade was such a great tradition, and that Malibu West had their own tradition, and they would hold their little children’s parade. He stated he brought a pile of electronic waste to the City’s electronic waste recycling event held the prior weekend, which he felt really made a difference in the environment and added they had also collected discarded paint. He reported he attended the Chamber of Commerce mixer at the Sunset Restaurant and that it was great to see the local business community engaged. He stated the School District Separation Ad Hoc Committee meetings were ongoing.

He stated he had participated in an online survey conducted by SMC to determine Malibu campus uses and encouraged the community to visit their website to Malibu City Council
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complete the survey.

Mayor Grisanti stated he attended the Chamber of Commerce mixer and that he saw Councilmember Pierson, and he enjoyed seeing the local business community but had witnessed the evening traffic problems at Westward Beach. He stated he had completed the SMC survey online. He reported that he attended the Surf art exhibit opening at City Hall held the prior Saturday and complimented staff and the Malibu Arts Commission on the display. He encouraged the community to visit the exhibit and noted that the artists’ email contact information was provided.

Councilmember Uhring stated he attended the Santa Monica Bay Restoration Committee meeting, where strategies to capture stormwater and return it to the cisterns in the ground were discussed. He stated The Las Virgenes Municipal Water District was working on a huge water recycling project which took water that would otherwise flow into ocean or Malibu creek, processed into clean drinking water, with a 2027 estimated completion date. He stated he could obtain more information about future demonstrations of the system. He stated he had received calls from community members that the tow yard at Heathercliff Road and PCH wasn’t being used, however just this past Sunday there were 13 or 14 cars parked there, so perhaps it just took some time before people were caught and towed. He stated there were some large trucks parked there and he wasn’t sure if they were City vehicles or companies the city worked with or if they weren’t supposed to be parked there and he thought someone should check. He stated he had voted against having Assistant City Attorney Rusin appointed Interim City Attorney, but he would explain next time his reasons due to time constraints.

Councilmember Farrer stated that she thought the electronic waste collection event was held by the City quarterly. She stated she also completed the SMC survey and encouraged people to go to the SMC website and complete the Malibu Campus survey. She stated she also attended the School Safety Partnership meeting and the School District Separation Ad Hoc Committee meeting. She reported she attended the monthly COG meeting on June 21, 2022, and Tessa Charnofsky of Los Angeles County Supervisor Sheila Kuehl’s office reported that there was a Homeless Connect Day planned in Malibu in either September or October and stated she was happy the program had resumed.

Mayor Pro Tem Silverstein stated he had met with City Manager McClary several times over the past few weeks regarding the two-step rebuild process and what type of relief could be provided for those caught in the pipeline. He stated they discussed the communications tower and general management philosophy issues, and that it was a very good conversation. He reported he remotely attended a Superior Court hearing on the petition that was filed by the Malibu Beach Inn hotel owners to overturn the Council’s denial of their permit application, which resulted in the judge throwing their case out. He stated that the decision needed to be finalized with what he believed to be a two-week acceptance period after the judge rendered his decision. He stated he had done some due diligence over the course of the prior two weeks and the replacement of Interim City Attorney Cotti with Assistant City Malibu City Council
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Attorney Rusin hadn’t undergone a formal process and he hoped there would be one when it was time for a permanent City Attorney to be hired. He stated that Christi Hogan was the City Attorney from the beginning and Best Best and Krieger Law succeeded her contract almost by default, from what he could tell, there hadn’t really been a formal search for a City Attorney for a long time and he thought there should be and that would probably wait until November before that was formalized.

He stated that he participated in weekly meetings with California Strategies with Mayor Grisanti. He stated he had been contacted by members of the public in the prior two weeks about the two-step rebuild process issue and he would speak to more people later during the week. He stated that there was a great deal of commentary about Councilmember Farrer’s project, and that numerous issues had been raised, and he didn’t have any judgement on it, and that he would look at the file and decide for himself. He stated he heard that Councilmember Farrer’s side was that everything was above board. He stated he received multiple communications regarding school safety. He stated he was told that the drip pans that were supposed to be required were not used consistently at the Heathercliff Road impound lot. He stated that from what he understood no fireworks permits had been pulled for the Fourth of July and he hoped that the Sheriff’s Department would watch for illegal fireworks, with arrests made, if necessary, due to the fire hazards they presented. He stated he hoped the urgency ordinance from last year that prohibited camping in the high severity fire zones would be brought back. He stated he appreciated all the comments, and that he didn’t know why someone would think the City would turn over property they had spent a lot of money on for recreational or other community purposes to provide affordable housing, but he was not closed to hearing more about it. He stated that it was great to see people who attended the live Council meeting on May 9, 2022, but he thought when meetings were conducted on Zoom the participants should be seen onscreen. He stated the comment was made that it was great to see Captain Seetoo, and that it was much more comprehensive, but she also had unlimited speaking-time unlike residents who were limited to three minutes, without the ability to even share minutes. He stated with good vetting and good technology they could replicate the live meetings as closely as possible remotely. He stated if the communications tower was approved as built there was some sort of lapse on somebody’s part and that it did not belong in Malibu. He stated a community resource officer, or ombudsman for the City stationed at the Malibu Library, possibly using some of the library funds could benefit the community and should be explored.

ITEM 3 CONSENT CALENDAR
Item Nos. 3.B.3., 3.B.4., 3.B.7., 3.B.9., and 3.B.10. were pulled by the public.

Item No. 3.B.6. was pulled by Mayor Pro Tem Silverstein.

MOTION Mayor Pro Tem Silverstein moved, and Councilmember Pierson seconded a motion to approve the Consent Calendar pulling Item Nos. 3.B.3., 3.B.4., 3.B.6., 3.B.7.,

3.B.9., and 3.B.10. The question was called, and the motion carried unanimously.

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The Consent Calendar consisted of the following items:

A. Previously Discussed Items

1. Second Reading and Adoption of Ordinance No. 500
Recommended Action: Conduct second reading, unless waived, and adopt Ordinance No. 500, amending Chapter 10.08 (Speed Limits) of the Malibu Municipal Code to establish speed limits on City streets and finding the same exempt from the California Environmental Quality Act.

B. New Items

1. Waive Further Reading
Recommended Action: After the City Attorney has read the title, waive full reading of ordinances considered on this agenda for introduction on first reading and/or second reading and adoption.

2. Approve Warrants
Recommended Action: Allow and approve warrant demand numbers 66166-66295 listed on the register from the General Fund and direct the City Manager to pay out the funds to each of the claimants listed in Warrant Register No. 706 in the amount of the warrant appearing opposite their names, for the purposes stated on the respective demands in a total amount of $378,711.36. City of Malibu payroll check number 5229 and ACH deposits were issued in the amount of $239,167.13.

5. Bonus Pay Program
Recommended Action: Adopt Resolution No. 22-31 amending the Personnel System Rules adopted in Resolution No. 15-08 and adopting a revised Bonus Pay Program to include Certified Public Accountant; Certified Public Finance Officer; and Society for Human Resources Management Senior Certified Professional designations. Amend Section

15.2, Subsection A, Civil Engineer position classification, to include Assistant Civil Engineer, Associate Civil Engineer, and Senior Civil Engineer positions. Modify Section 15.2, Subsection A, to allow exempt employees to be eligible for Bonus Pay for certain licenses or certifications at the discretion of the City Manager.

8. Annual Progress Report Regarding the Implementation of the City’s Housing Element
Recommended Action: Approve the 2021 Housing Element Annual Progress Report.

The following items were pulled from the consent calendar for individual consideration:

3. Approval of Minutes
Recommended Action: Approve the minutes for the October 27, 2021 Malibu City Council Special meeting.

Mayor Grisanti opened the floor for public comment.

Bill Sampson was not present at the time of the hearing.

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As there were no speakers present, Mayor Grisanti returned the matter to the table for discussion.

MOTION Councilmember Pierson moved, and Councilmember Farrer seconded a motion to approve the minutes for the October 27, 2021 Malibu City Council Special meeting. The question was called, and the motion carried unanimously.

4. Findings to Hold Virtual City Council, Commission, Committee, Board and Other City Bodies, Meetings Under AB 361
Recommended Action: Consider a motion to reaffirm Resolution No. 22- 25, re-authorizing remote teleconferencing/virtual meetings pursuant to AB 361.

Mayor Grisanti opened the floor for public comment.

Speaker: Kraig Hill
As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

MOTION Mayor Pro Tem Silverstein moved, and Councilmember Pierson seconded a motion to reaffirm Resolution No. 22-25, re-authorizing remote teleconferencing/virtual meetings pursuant to AB 361.The question was called, and the motion carried unanimously.

6. Community Facilities District No. 2006-1 (Carbon Beach Utility Undergrounding) – Levy of Special Tax for Fiscal Year 2022-2023 Recommended Action: Adopt Resolution No. 22-29 of the City Council of the City of Malibu acting in its capacity as the legislative body of Community Facilities District No. 2006-1 of the City of Malibu (Carbon Beach Utility Undergrounding) authorizing the levy of a special tax for Fiscal Year 2022-2023.

The Council directed questions to staff.

MOTION Mayor Grisanti moved, and Councilmember Farrer seconded a motion to adopt Resolution No. 22-29 of the City Council of the City of Malibu acting in its capacity as the legislative body of Community Facilities District No. 2006-1 of the City of Malibu (Carbon Beach Utility Undergrounding) authorizing the levy of a special tax for Fiscal Year 2022-2023. The question was called, and the motion carried unanimously.

7. Professional Services Agreement with The People Concern Recommended Action: Authorize the Mayor to execute a Professional Services Agreement with The People Concern to provide outreach, emergency and interim housing options, and housing navigation services Malibu City Council
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for homeless individuals and families in the Malibu community for the period of July 1, 2022 through June 30, 2024 in an amount not to exceed $770,000.

Mayor Grisanti opened the floor for public comment.

Speaker: Pamela Conley-Ulich
As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council discussed the matter.

MOTION Mayor Pro Tem Silverstein moved, and Councilmember Pierson seconded a motion to authorize the Mayor to execute a Professional Services Agreement with The People Concern to provide outreach, emergency and interim housing options, and housing navigation services for homeless individuals and families in the Malibu community for the period of July 1, 2022 through June 30, 2024 in an amount not to exceed $770,000. The question was called, and the motion carried unanimously.

9. Amendment to the Professional Services Agreement with School District Separation Consultants
Recommended Action: 1) Authorize the Mayor to execute Amendment No. 6 to the Professional Services Agreement with Kirk-Carter and Associates; and 2) Authorize the Mayor to execute Amendment No. 6 to the Professional Services Agreement with STLR Corp, dba Ryland School Business Consulting.

Mayor Grisanti opened the floor for public comment.

Speaker: Ryan Embree
As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council discussed the matter.

MOTION Councilmember Farrer moved, and Mayor Grisanti seconded a motion to:
1) Authorize the Mayor to execute Amendment No. 6 to the Professional Services Agreement with Kirk-Carter and Associates; and 2) Authorize the Mayor to execute Amendment No. 6 to the Professional Services Agreement with STLR Corp, dba Ryland School Business Consulting. The question was called, and the motion carried unanimously.

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10. Professional Services Agreement with California Strategies & Advocacy, LLC
Recommended Action: Authorize the Mayor to execute a Professional Services Agreement with California Strategies and Advocacy, LLC in an amount not to exceed $150,000 per year.

Mayor Grisanti opened the floor for public comment.

Speakers: Ted Harris and Ryan Embree
As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

MOTION Mayor Pro Tem Silverstein moved, and Mayor Grisanti seconded a motion to Authorize the Mayor to execute a Professional Services Agreement with California Strategies and Advocacy, LLC in an amount not to exceed $150,000 per year. The question was called, and the motion carried unanimously.

ITEM 4 ORDINANCES AND PUBLIC HEARINGS
A. Assessment District 98-1 (Big Rock Mesa)
Recommended Action: 1) Conduct the Public Hearing; and 2) Adopt Resolution No. 22-26 levying an assessment for the maintenance, repair, and improvements works, systems and facilities pertaining to Assessment District 98-1 (Big Rock Mesa) for Fiscal Year 2022-2023.

Public Works Director DuBoux presented the staff report.

Mayor Grisanti opened the floor for public comment.

Speakers: Jeff Grier, Jo Drummond, Kraig Hill, and Walter Zellman.

Eric Green was not present at the time of the meeting.

As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council directed questions to staff and Mr. Hill and discussed the item.

MOTION Mayor Grisanti moved, and Councilmember Farrer seconded a motion to adopt Resolution No. 22-26 levying an assessment for the maintenance, repair, and improvements works, systems and facilities pertaining to Assessment District 98-1 (Big Rock Mesa) for Fiscal Year 2022-2023. The question was called, and the motion carried unanimously.

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B. Assessment District 98-2 (Calle Del Barco)
Recommended Action: 1) Conduct the Public Hearing; and 2) Adopt Resolution No. 22-27 levying an assessment for the maintenance, repair and improvements works, systems and facilities of Assessment District 98-2 (Calle Del Barco) for Fiscal Year 2022-2023.

Public Works Director DuBoux presented the staff report.

Mayor Grisanti opened the floor for public comment.

As there were no speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council directed questions to staff and discussed the item.

MOTION Councilmember Uhring moved, and Councilmember Pierson seconded a motion to adopt Resolution No. 22-27 levying an assessment for the maintenance, repair and improvements works, systems and facilities of Assessment District 98-2 (Calle Del Barco) for Fiscal Year 2022-2023. The question was called, and the motion carried unanimously.

C. Assessment District 98-3 (Malibu Road)
Recommended Action: 1) Conduct the Public Hearing; and 2) Adopt Resolution No. 22-28 levying an assessment for the maintenance, repair and improvements works, systems and facilities of Assessment District 98-3 (Malibu Road) for Fiscal Year 2022-2023.

Public Works Director DuBoux presented the staff report.

Mayor Grisanti opened the floor for public comment.

As there were no speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council directed questions to staff and discussed the item.

MOTION Councilmember Pierson moved, and Councilmember Uhring seconded a motion to adopt Resolution No. 22-28 levying an assessment for the maintenance, repair and improvements works, systems and facilities of Assessment District 98-3 (Malibu Road) for Fiscal Year 2022-2023. The question was called, and the motion carried unanimously.

D. Fiscal Year 2022-2023 Wastewater Service Charges
Recommended Action: 1) Conduct the Public Hearing to receive public testimony and consider all protest concerning the adoption of the Engineer’s Report regarding the levy of wastewater services fees through property taxes; and 2) Unless there are protests from majority of the effected property owners, adopt Resolution No. 22- Malibu City Council
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30 approving the Engineer’s Report and collection of wastewater services charges on the county tax roll for Fiscal Year 2022-2023.

Public Works Director DuBoux presented the staff report.

Mayor Grisanti opened the floor for public comment.

As there were no speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council directed questions to staff and discussed the item.

MOTION Councilmember Uhring moved, and Councilmember Pierson seconded a motion to adopt Resolution No. 22-30 approving the Engineer’s Report and collection of wastewater services charges on the county tax roll for Fiscal Year 2022-2023. The question was called, and the motion carried unanimously.

E. Malibu Middle and High School Specific Plan - Final Environmental Impact Report No. 20-001, Local Coastal Program Amendment No. 21-002, General Plan Map Amendment No. 21-002, Zoning Map Amendment No. 22-001, and Zoning Text Amendment No. 22-002 - An application to redevelop and modernize the existing Malibu Middle and High School campus and former Juan Cabrillo Elementary School campus
Recommended Action: Continue this item to the July 11, 2022 City Council Regular meeting.

This item was continued to the July 11, 2022 City Council Regular meeting upon approval of the agenda.

ITEM 5 OLD BUSINESS
None.

ITEM 6 NEW BUSINESS
None.

ITEM 7 COUNCIL ITEMS (Continued)
A. Council Appointment to the Homelessness Task Force
Recommended Action: Councilmember Farrer may make a new appointment to the Homelessness Task Force.

Councilmember Farrer provided an update on her search for a new appointment to the Homelessness Task Force.

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B. Reconsideration of May 23, 2022, Council action regarding Malibu Library Set Aside Fund for Fiscal Year 2022-23 (Councilmember Uhring) (Continued from June 13, 2022)
Recommended Action: At the request of Councilmember Uhring, approve recommendation to reconsider the Council action of May 23, 2022, regarding Malibu Library Set Aside Fund for Fiscal Year 2022-23, and return the item to the next regularly scheduled Council meeting.

MOTION Councilmember Farrer moved, and Councilmember Pierson seconded a motion to hear Item No. 7.B. after 10:30 p.m. The question was called, and the motion failed 3-2, Councilmember Uhring and Mayor Pro Tem Silverstein opposed.

ADJOURNMENT
At 10:43 p.m., Councilmember Pierson moved, and Mayor Pro Tem Silverstein seconded a motion to adjourn the meeting in memory of Harry Gesner. The question was called, and the motion carried unanimously.

Approved and adopted by the City Council of the
City of Malibu on __________.
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BRUCE SILVERSTEIN, Mayor
ATTEST:
_________________________________
KELSEY PETTIJOHN, City Clerk
(seal)
ATTACHMENT 3

MINUTES

MALIBU CITY COUNCIL

REGULAR MEETING
JULY 11, 2022

TELECONFERENCED - VARIOUS LOCATIONS
6:30 P.M.

The following meeting was held pursuant to AB 361 and fully teleconferenced from various locations during the coronavirus disease (COVID-19) pandemic.

MEETING CALL TO ORDER
Mayor Grisanti called the meeting to order at 5:00 p.m.

ROLL CALL
The following persons were recorded in attendance via teleconference by the Recording Secretary:

PRESENT: Mayor Paul Grisanti; Mayor Pro Tem Bruce Silverstein; and Councilmembers Karen Farrer, Mikke Pierson, and Steve Uhring

PUBLIC COMMENT ON CLOSED SESSION
Mayor Grisanti opened the floor to public comment.

Speakers: None.

RECESS TO CLOSED SESSION
At 5:02 p.m., on the advice of counsel and based on existing facts and circumstances, the Council recessed to Closed Session to discuss the following items listed on the Closed Session agenda:

Conference with Legal Counsel – Existing litigation pursuant to Government Code Section 54956.9(d)(1):

1. Case Name: City’s Petition to Form Malibu USD from Territory in the Santa Monica-Malibu USD
Conference with Legal Counsel – Anticipated Litigation

1. Initiation of litigation pursuant to paragraph (4) of subdivision (d) of Government Code section 54956.9
Number of potential cases: 1

REGULAR SESSION CALL TO ORDER
Mayor Grisanti called the meeting to order at 6:31 p.m.

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ROLL CALL
The following persons were recorded in attendance via teleconference by the Recording Secretary:

PRESENT: Mayor Paul Grisanti; Mayor Pro Tem Bruce Silverstein; and Councilmembers Karen Farrer, Mikke Pierson, and Steve Uhring
ALSO PRESENT: Trevor Rusin, Interim City Attorney; Steve McClary, City Manager; Kelsey Pettijohn, City Clerk; Yolanda Bundy, Environmental Sustainability Director; Richard Mollica, Planning Director; Susan Dueñas, Public Safety Director; Rob DuBoux, Public Works Director; Elizabeth Shavelson, Deputy City Manager; Matt Myerhoff, Media Information Officer; Kate Gallo, Recreation Manager; Raneika Brooks, Senior Planner; Rebecca Evans, Administrative Assistant; and Troy Spayd, Assistant Public Works Director/Assistant City Engineer

PLEDGE OF ALLEGIANCE
Mayor Grisanti led the Pledge of Allegiance.

CLOSED SESSION REPORT
Interim City Attorney Rusin reported that the meeting convened at 5:00 p.m., after which time the Council recessed to a Closed Session pursuant to Government Code Sections 54956.9(d)(1) and 54956.9(d)(4) with all Councilmembers present. He stated the Council discussed the items listed on the closed session agenda with no reportable action.

APPROVAL OF AGENDA
MOTION Councilmember Farrer moved, and Councilmember Pierson seconded a motion to approve the agenda. The question was called, and the motion carried unanimously.

REPORT ON POSTING OF AGENDA
City Clerk Pettijohn reported that the agenda for the meeting was properly posted on July 1, 2022, with the amended agenda posted on July 7, 2022.

ITEM 1 CEREMONIAL/PRESENTATIONS
A. Update on Homeless Outreach Services and Accomplishments The Council received a presentation from Jason Flores and Richard Song of The People Concern on homeless outreach services and accomplishments.

The Council directed questions to Mr. Flores and Mr. Song regarding statistics on people assisted by their programs and housing retention.

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Public Safety Director Dueñas stated that reports and statistics regarding homelessness were available on the City’s website.

ITEM 2.A. PUBLIC COMMENTS
Gerherd Ihde introduced a video which outlined a timeline on the fire rebuild project at 6244 Busch Drive.

Rosemary Ihde used her time to present the next portion of the video introduced by Mr. Ihde.

Georgia Goldfarb presented the remainder of the video introduced by Mr. Ihde.

Jo Drummond commented on the video that was presented and stated it was a collaboration between community members in response to Councilmember Farrer’s deflection from the previous month. She stated the Local Implementation Program (LIP), and Malibu Municipal Code were not followed during construction of the Busch Drive project. She discussed the square footage and permitting of the project.

She stated Councilmember Farrer avoided code enforcement penalties when the second story was built before permits were issued. She stated the answers Councilmember Farrer provided to the Wagner investigators were not truthful and that she indicated it was her daughter’s home, but there was a second unit planned that possibly would be used for short-term rental. She stated she hoped another resident would run against Councilmember Farrer in the November election.

Bill Sampson stated the correspondence he submitted that pertained to a delay in production of the Council meeting minutes was not intended as critical of staff and apologized if it was interpreted in that manner and encouraged quicker production of minutes.

He stated politician Laura Rosenthal’s webpage noted she was on the Los Angeles County Library Board of Directors of the Los Angeles Library Foundation and listed political advocacy activities but was not a registered lobbyist with the City.

He stated that he felt if she presented ideas for the usage of library funds to influence the Council’s decisions, she was engaged in lobbying activities. He stated he found the information presented in the Busch Drive video disturbing and that although the video may have overstated the facts, he did not believe that Councilmember Farrer was entirely innocent. He stated that he was disappointed that the first interaction he had with Councilmember Farrer after the 2018 Woolsey fire was when she stated she was a proponent of Airbnb short-term rentals and that he thought it strange that she then wondered why school enrollment numbers had declined.

Lloyd Ahern, President of the Las Tunas Homeowners’ Association, reported that over the holiday weekend, a homeless man emerged from Tuna Canyon with an ax and damaged five homes and nine cars and then returned the following evening and damaged additional property. He stated the police who responded were very helpful, especially when the challenges presented by the holiday weekend were Malibu City Council
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considered. He stated a community meeting was called with Public Safety Director Dueñas, Lieutenant Chad Watters, and Mayor Grisanti and held at City Hall. He stated the suspect’s scheduled arraignment date was July 12, 2022, and that the District Attorney’s Office told him that the suspect would likely be released. He stated the community was appreciative of the authorities’ and City’s assistance but felt endangered by the prospect of the suspect’s release and wanted the issuance of a restraining order explored.

Kraig Hill suggested the formation of an informal volunteer citizens committee on parcel priorities and the development of a survey of potential uses for underutilized City land which extensive infrastructure was not required such as a city park or dog park. He stated he had received input from the community that the Triangle Parcel should be a flagship property, with a visitors or cultural center with a café that provided rental income to the City rather than the current collection of parking lots and a gas station. He stated a portion of the 17 million dollars in excess library funds could go toward the establishment of a tool-lending program with equipment that included a three-dimensional printer, a large-format printer, seasonal woodchippers, and a space for craft workshops and other creative gatherings.

Andy Lion stated he enjoyed the Busch Drive video presentation. He commented that there was no way to comment on rearranging the agenda prior to its approval and stated he had hoped Item No. 7.B. would be moved forward in the agenda. He suggested the organization contracted by the City to assist homeless individuals meet the suspect as he was released from jail as was expected to happen the following day. He inquired about the status of a permanent skatepark, and suggested City staffing would help allay residents’ concerns about noise and other disruptive activity. He stated his son enjoyed the temporary skatepark and thought the permanent skatepark should have been finished and hoped the project was not eliminated.

John Mazza stated he attended the Caltrans Pacific Coast Highway (PCH) repaving meeting and stated that it appeared the City’s median project conflicted or overlapped with the Caltrans project. He stated that the City’s median hadn’t left room for the bicycle lanes Caltrans proposed. He requested duplication of efforts and expense be avoided through the City’s coordination with Caltrans.

Ryan Embree stated interruption of speakers by staff or anyone during public comment was inappropriate as it deprived speakers of their right to address their government. He stated he was interrupted at a community meeting when a staff member erroneously anticipated his comments were approaching a topic listed on the agenda when that was not the case. He suggested a Brown Act training be conducted. He stated that the City’s lack of a Library Commission resulted in an outdated library and cited the City of Calabasas as an example of a community who had a Library Commission and benefitted from an impressive library funded by grant money. He stated that the Library Subcommittee should be reorganized because they were conflicted, ineffective, and not abiding by appropriate constraints. He requested an update on the death at the Trancas Country Market that Malibu City Council
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occurred in March 2022.

ITEM 2.B. COMMISSION / COMMITTEE / CITY MANAGER UPDATES City Manager McClary reported on the COVID-19 numbers. He reported a small outbreak at City Hall that was believed to have originated outside of the building, but per Los Angeles County Health Department Orders, measures were put into place, such as strict social distancing with masks worn inside City Hall and outside of City Hall if adequate social distancing measures could not be achieved. He stated it was hoped that order would be lifted by week’s end, and masks would be recommended but not required. He reported that as of July 1, 2022, there were 7,300 new COVID-19 cases in Los Angeles County, which was the largest increase since the Omicron surge in February 2022. He stated that underreporting of the positivity rate was likely due to home testing not reported to the County Health Department.

He stated there was a 20 percent increase in case numbers from the prior week and a 14 percent test positivity rate. He stated hospitalizations were steady at approximately 770 per day. He stated Malibu was still in the medium community spread risk category. He stated the Omicron strain continued to be dominant, although it had evolved and grew in numbers. He reminded everyone that vaccines were available for those ages six months and older and that free tests were available to those without insurance. He stated more information was available at the County Public Health website. He reminded the Council that their July 25, 2022 meeting was dark and would not be held. He announced that the day use impound yard pilot project had begun on June 18, 2022 and would run through October 2022. He stated as of the prior day, 106 vehicles had been towed. He reported that he was notified by Caltrans that the proposed hybrid pedestrian beacon project near Malibu Seafood restaurant that was presented at a public meeting in 2018 to the great concern of the public had been terminated and would not move forward. He reported that a school reorganization mediation meeting was held July 9, 2022. He stated he attended the School Safety Ad Hoc meeting the week prior. He stated he met with Captain Seetoo and Lieutenant Watters, and they discussed realistic options on staffing the Malibu Substation beginning July 1, 2023, and it was expected information would be brought to Council for discussion within the following few months.

Environmental Sustainability Director Bundy invited the community to the Dark Sky Ordinance informational webinar hosted by the City Wednesday, July 20, 2022 at 4:00 p.m. for property owners and managers of commercial properties. She stated guidance and information on how to obtain the necessary permits would be provided. She urged the community to contact them with any questions as the October 15, 2022 compliance deadline was near.

Public Works Director DuBoux clarified the Caltrans project meeting which proposed bicycle lanes westward from Webb Way was in the community interest gathering stage and that there was not a current project planned. He stated that the Public Works Department had coordinated and collaborated with Caltrans on several projects including the one referenced. He stated Caltrans had a painting project scheduled and they were currently coordinating with the Public Works Malibu City Council
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Department.

Lieutenant Watters stated they had a major incident of vandalism as was referenced earlier in Mr. Ahern’s comments and the Sheriff’s Department had a good response to the incident, a thorough investigation was underway, and the suspect was apprehended. He stated they worked with the District Attorney’s (D.A.) office and provided them with information for them to proceed appropriately. He stated it was hoped the suspect would be detained in custody until the time of his trial. He stated the individual seemed disturbed and was believed to be a threat to the area, and although he had not yet committed any violent crime, they believed that violence was imminent, which they conveyed to the D.A.’s office. He thanked the community for the information provided to the Sheriff’s Department. He encouraged the community to come forward with any information about any crime against themselves or someone they knew using the Tip Line or through direct contact with the Sheriff’s station. He stated this information and camera footage helped get cases solved. He stated the homicide at the Trancas Country Market appeared to be a suspicious death and was still under investigation. He stated an update would be provided by the Homicide Bureau as soon as they had their findings. He stated the Major Crimes Bureau was working on the case of the robbery at Heathercliff Road and PCH and that they had a very strong lead and thought the suspect would be in custody soon. He reported the beach team was very effective and had written several citations. He stated they did a motor operation on the east end of Malibu on Sunday morning, and 16 citations were issued to vehicles who were on their way to the unpermitted car gathering. He stated the Sheriff’s Department also had a presence at the event site. He stated management at the property where the vehicles gathered worked with the Sheriff’s Department and City Manager McClary to reduce the impact of the unpermitted activity on the community. He reported that they conducted a catalytic converter etching event the prior month and planned another in the Malibu area in three months. He reported there were not many traffic accidents over the past few days and the City’s temporary impound yard had been very helpful and kept the areas around Zuma, Point Dume, and Westward Beach safer.

Councilmember Uhring stated that due to the ongoing efforts, he had seen much reduction in the nuisance the unpermitted car gatherings caused.

Lieutenant Watters reported that he had appeared, along with Mayor Grisanti and Public Safety Liaison Luis Flores, on the NBC Channel 4 morning news program where they discussed measures that were employed that improved the overnight camping and homelessness issues that involved recreational vehicles.

ITEM 2.C. SUBCOMMITTEE REPORTS / COUNCIL COMMENTS
Councilmember Uhring commented on the recent power outages and stated they posed a safety hazard and measures should be taken to prevent them. He stated one of the City’s grant recipients, the Kabbalah Foundation, worked with underserved children through equine therapy and encouraged other grant recipients to share with Malibu City Council
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the City the work they accomplished that helped the community. He thanked the community for not using fireworks over the holiday weekend and that pet owners were grateful they did not have their pets distressed by the noise.

In response to Councilmember Uhring, Environmental Services Director Bundy stated that outreach efforts were made with business owners to come into compliance with the Dark Sky Ordinance and Planning Director Mollica stated that recommendations from the Planning Commission would be on an upcoming Council agenda that addressed concerns regarding gas station lighting.

Councilmember Pierson reported that he attended the Caltrans west Malibu PCH painting project meeting and Mayor Grisanti attended as well. He stated the meeting was fraught with technical and communication difficulties and he felt he hadn’t received value for the time spent. He reported he attended Santa Monica Bay Watershed meeting and Mayor Grisanti attended as well. He stated the School Reorganization mediation held July 9, 2022, was lengthy in duration but progress had been made. He stated California State Senate Representative Robert Hertzberg made a statement about camping in ESHA and that he and Councilmember Farrer assisted him in crafting the statement. He stated he participated on multiple days with arson-watch, and there were far fewer fireworks this year.

Councilmember Farrer stated that it was election season and that some of the comments directed at her were likely politically motivated by someone who had political aspirations of running for office. She stated she received many email messages about items on the agenda. She thanked Mr. Ahern and Lieutenant Watters for bringing the ax vandalism incident to their attention and the Sheriff’s Department for the suspect being apprehended. She stated it seemed strange to her to have an incident that involved a level of damage with an ax described as a nonviolent crime, and questioned if the distinction was in that it was a property crime rather than one committed against a person. She stated the images and description of the incident seemed extremely violent to her. She stated the recent Fourth of July holiday weekend was calmer and she heard less sirens. She reported that School District Separation team met all day on Saturday and provided the following recap:
“We are continuing to work together with the help of a neutral mediator in reaching a solution for reorganization. There is a shared belief that progress is being made toward reaching an agreement.” She stated that she and Councilmember Pierson met with Senate Majority Leader Hertzberg on Sunday, July 10, 2022 to discuss topics that were important to the Malibu community, particularly the history and risk of wildfires. She stated that he was a candidate for the Los Angeles County Board of Supervisors. She stated that earlier in the day she attended a two-hour virtual meeting of the Council on Veterans Affairs, organized by Congressman Ted Lieu, and that Public Safety Director Dueñas, Public Safety Liaison Flores, members of the Council of Governments, and many governmental officials were in attendance. She stated that a large amount of federal funds would go to the west Los Angeles Veterans Administration facility to assist in veteran housing and that would have an impact in Malibu. She stated there were 90,000 veterans registered for services out of the west Los Angeles facility.

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Mayor Pro Tem Silverstein stated he spent a lot of time over the past two weeks, and before that, on substantial historical and legal research on the Library funds matter and the Option 4 fire rebuild matter and the other items that were on the meeting agenda. He stated he attended the School Safety Ad Hoc Committee meeting and that they made a little bit of progress. In response to public speaker Mr. Ahern, he stated the ax-wielding vagrant illustrated his concerns over homelessness in Malibu, which tended to be unpopular because he took a hard stand to clean up Malibu’s streets, and that was another example of failure to be proactive.

He stated he hoped steps would be taken to keep that gentleman incarcerated pending trial, and if not incarcerated, at least a way found to keep him out of Malibu. In response to public speaker Mr. Lyon, he stated the comment about the length and placement of items on the agenda, and of speakers’ ability to comment on the agenda was well-taken. He stated that even though much time was taken at meetings listening to speakers, the way to comment on the agenda was by speaking during Item No. 2.A. He stated it had always troubled him that items late at night might not be heard during the meeting or even two meetings in a row, and yet they ended up scheduled again in the same spot on the agenda. He stated that the next time the items came up, he would think they could have some kind of protocol for bringing things remaining from the prior meeting forward in the agenda before new items. In response to public speaker Mr. Mazza, he stated that he agreed there should be coordination between the City and Caltrans on the two different projects along PCH. He stated several comments had been made that evening about an elected official who had taken some positions and then noted that that person was running for County Supervisor, and he hoped that none of that had been taken as an endorsement or recommendation by anyone on the Council of who Malibu residents should vote for in an election because that would not be proper. He stated that it was always appropriate to thank people when they did something that helped Malibu, but he hoped that was not taken the wrong way.

Mayor Grisanti stated he had a busy holiday weekend and was glad it was safe. He stated that more recently he was at the July 10, 2022 presentation arranged by the Malibu Navy League for the French Government Consul General who presented a knighthood to Malibu resident Martin Copenhafer who had participated in the Normandy landing in World War Two. He stated that it was a very emotional event and thanked everyone involved. He stated that the Caltrans paving project meeting was disorganized, and that Caltrans had received negative input from the CCC regarding the 2100 parking spaces that would be lost as a result of the project. He stated he was glad the temporary impound yard was working well.

ITEM 3 CONSENT CALENDAR
Item Nos. 3.A.1., 3.A.2., and 3.B.3. were pulled by the public.

MOTION Councilmember Farrer moved, and Councilmember Pierson seconded a motion to approve the Consent Calendar, pulling Item Nos. 3.A.1., 3.A.2., and 3.B.3. The question was called, and the motion carried unanimously.

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The Consent Calendar consisted of the following items:

B. New Items

1. Waive Further Reading
Recommended Action: After the City Attorney has read the title, waive full reading of ordinances considered on this agenda for introduction on first reading and/or second reading and adoption.

2. Approve Warrants
Recommended Action: Allow and approve warrant demand numbers 66296-66408 listed on the register from the General Fund and direct the City Manager to pay out the funds to each of the claimants listed in Warrant Register No. 707 in the amount of the warrant appearing opposite their names, for the purposes stated on the respective demands in a total amount of $567,515.03. City of Malibu payroll check number 5230-5231 and ACH deposits were issued in the amount of $255,890.32.

4. Findings to Hold Virtual City Council, Commission, Committee, Board and Other City Bodies, Meetings Under AB 361
Recommended Action: Consider a motion to reaffirm Resolution No. 22- 25, re-authorizing remote teleconferencing/virtual meetings pursuant to AB 361.

5. Marie Canyon Green Streets Improvements Project
Recommended Action: Authorize the Mayor the execute a construction contract with J and H Engineering General Contractors, Inc. in the amount of $254,001 for the Marie Canyon Green Streets Improvements Project, Specification No. 2073; and 2) Authorize the Public Works Director to approve potential change orders up to 15% of the contract.

The following items were pulled from the consent calendar for individual consideration:

Item Nos. 3.A.1. and 3.A.2. were heard concurrently.

A. Previously Discussed Items

1. Coastal Development Permit No. 14-073, Variance Nos. 18-002, 18-003, 18-004, 18-008, 18-009, and Minor Modification No. 18-001 - An application for a new single-family residence and associated development Recommended Action: Adopt Resolution No. 22-16, denying Appeal No. 21-017 upholding the Planning Commission’s denial of Coastal Development Permit No. 14-073 to construct a new 2,825-square foot, twostory, single-family residence, including a 483-square foot attached two-car garage, rooftop deck, swimming pool, spa and associated equipment, barbeque, outdoor fireplace, retaining walls, hardscaping, grading, and installation of a new alternative onsite wastewater treatment system, and denying Variance No. 18-002 for construction in excess of 18 feet in height, up to 43.25 feet for the single-family residence, and denying Variance No. 18-004 to allow the portions of the building in excess of 18 feet in height to exceed two-thirds the area below 18 feet in height located in the Rural Malibu City Council
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Residential Two-Acre zoning district at 33386 Pacific Coast Highway (180 PCH, LLC).

2. Coastal Development Permit No. 14-072, Lot Merger No. 17-007, Lot Line Adjustment No. 14-004, Variance Nos. 17-050, 17-051, 18-001, 18-005, 18-006, and 18-015 - An application for a new single-family residence, associated development, lot merger, and lot line adjustment Recommended Action: Adopt Resolution No. 22-17, denying Appeal No. 21-018 upholding the Planning Commission’s denial of Coastal Development Permit No. 14-072 to construct a new 2,825-square foot, twostory, single-family residence, including a 483-square foot attached two-car garage, rooftop deck, swimming pool, spa and associated equipment, barbeque, outdoor fireplace, retaining walls, hardscaping, grading, and installation of a new alternative onsite wastewater treatment system, and denying Variance No. 17-050 for construction in excess of 18 feet in height, up to 43.25 feet for the single-family residence, and denying Variance No. 18-001 to allow the portions of the building in excess of 18 feet in height to exceed two-thirds the area below 18 feet in height located in the Rural Residential Two-Acre zoning district at 33398 Pacific Coast Highway(180 PCH, LLC).

Item Nos. 3.A.1. and 3.A.2. were heard concurrently.

Mayor Grisanti opened the floor for public comment.

Speakers: David Rosen, Charals Haagen, and James George As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

MOTION Mayor Pro Tem Silverstein moved, and Councilmember Pierson seconded a motion to: 1) adopt Resolution No. 22-16, denying Appeal No. 21-017 upholding the Planning Commission’s denial of Coastal Development Permit No. 14-073 to construct a new 2,825-square foot, two-story, singlefamily residence, including a 483-square foot attached two-car garage, rooftop deck, swimming pool, spa and associated equipment, barbeque, outdoor fireplace, retaining walls, hardscaping, grading, and installation of a new alternative onsite wastewater treatment system, and denying Variance No. 18-002 for construction in excess of 18 feet in height, up to 43.25 feet for the single-family residence, and denying Variance No. 18-004 to allow the portions of the building in excess of 18 feet in height to exceed twothirds the area below 18 feet in height located in the Rural Residential TwoAcre zoning district at 33386 Pacific Coast Highway (180 PCH, LLC); and 2) adopt Resolution No. 22-17, denying Appeal No. 21-018 upholding the Planning Commission’s denial of Coastal Development Permit No. 14-072 to construct a new 2,825-square foot, two-story, single-family residence, including a 483-square foot attached two-car garage, rooftop deck, Malibu City Council
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swimming pool, spa and associated equipment, barbeque, outdoor fireplace, retaining walls, hardscaping, grading, and installation of a new alternative onsite wastewater treatment system, and denying Variance No. 17-050 for construction in excess of 18 feet in height, up to 43.25 feet for the singlefamily residence, and denying Variance No. 18-001 to allow the portions of the building in excess of 18 feet in height to exceed two-thirds the area below 18 feet in height located in the Rural Residential Two-Acre zoning district at 33398 Pacific Coast Highway(180 PCH, LLC).

The question was called, and the motion carried unanimously.

B. New Items

3. Approval of Minutes
Recommended Action: Approve the minutes for the November 2, 2021 Malibu City Council Adjourned Regular meeting.

Mayor Grisanti opened the floor for public comment.

Speaker: Bill Sampson
As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

MOTION Councilmember Pierson moved, and Councilmember Farrer seconded a motion to approve the minutes for the November 2, 2021 Malibu City Council Adjourned Regular meeting. The question was called and the motion carried unanimously.

RECESS At 8:13 p.m., Mayor Grisanti recessed the meeting. The meeting resumed at 8:18 p.m. with all Councilmembers present.

ITEM 4 ORDINANCES AND PUBLIC HEARINGS
A. Malibu Middle and High School Specific Plan - Final Environmental Impact Report No. 20-001, Local Coastal Program Amendment No. 21-002, General Plan Map Amendment No. 21-002, Zoning Map Amendment No. 22-001, and Zoning Text Amendment No. 22-002 - An application to redevelop and modernize the existing Malibu Middle and High School campus and former Juan Cabrillo Elementary School campus (Continued from June 27, 2022)
Recommended Action: 1) Adopt Resolution No. 22-32, adopting the findings of fact required by the California Environmental Quality Act, certifying the adequacy of the Final Environmental Impact Report (SCH No. 202008350), and adopting the Mitigation Monitoring and Reporting Program and the Statement of Overriding Considerations; 2) After the City Attorney reads the title of the ordinance, introduce on first reading Ordinance No. 501 approving Local Coastal Program Amendment (LCPA) No. 21-002, Zoning Map Amendment No. 22-001, and Zoning Text Amendment No. 22-002 to: a) add Section 3.4.6 to Local Coastal Program (LCP) Malibu City Council
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Local Implementation Plan (LIP) Section 3.4 to incorporate the MMHS Campus Specific Plan into the LIP, b) exempt the Malibu Middle and High School (MMHS) from the prohibition of electronic message center (EMC) signs required by LIP Section 3.15.3, c) amend Malibu Municipal Code (MMC) Section 17.42.020 to add subsection “M.” to incorporate the MMHS Campus Specific Plan into the MMC consistent with the proposed LCPA language, d) exempt the MMHS from the prohibition of EMC signs required by MMC Section 17.52.040, e) amend LCP Zoning Map No. 2 to add a boundary line around the MMHS Campus Specific Plan area, denoting the boundaries of the MMHS Campus Specific Plan area for three parcels (Assessor’s Parcel Map Numbers [APNs] 4469-017-900, 4469-018-900, and 4469-018-904) located at 30215 Morning View Drive, and f) amend the MMC Zoning Map consistent with the update to LCP Zoning Map No. 2; 3) Adopt Resolution No. 22-33 approving the Malibu Middle and High School Campus Specific Plan, Local Coastal Program Amendment (LCPA) No. 21-002, and General Plan Map Amendment No. 21-001 to: a) amend the LCP Land Use Plan to add a new Environmental Sensitive Habitat Area Policy 3.24 and b) amend the City of Malibu General Plan Land Use Policy Map (Section 3) to revise the land use designation for three parcels (APNs 4469-017-900, 4469-018-900, and 4469-018- 904) located at 30215 Morning View Drive; 4) Direct staff to schedule second reading and adoption of Ordinance No. 501 for the August 8, 2022 Regular City Council meeting.

Senior Planner Brooks presented the staff report.

Disclosures: Councilmembers Farrer, Pierson, and Uhring, and Mayor Grisanti.

The Council directed questions to staff.

As there were no further questions for staff Mayor Grisanti opened the floor for public comment.

Speakers: Craig Foster, Stan Barankiewicz, Lou La Monte, Stacy Rouse, Colin Drummond, Bill Sampson, Patt Healy, Isaac Burgess, John Mazza, Carl Randall, Valerie Seabaugh, Scott Dittrich, Marianne Riggins, Jo Drummond, Ryan Embree, and Mike Mulligan
Robert Brinkman was not present at the time of the hearing.

Senior Planner Brooks presented additional information.

As additional information was presented, Mayor Grisanti reopened public comment.

Speakers: Mr. Mazza, Howard Rudzki, Ms. Riggins, Carl Randall, Kraig Hill, Mr.

Dittrich, and Mr. Embree
Carrey Upton, and Stan Barankiewicz provided rebuttal to public comment.

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As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council discussed the item and directed questions to staff, Carey Upton, and Stan Barankiewicz.

MOTION Mayor Grisanti moved, and Councilmember Farrer second a motion to:
1) adopt Resolution No. 22-32, adopting the findings of fact required by the California Environmental Quality Act, certifying the adequacy of the Final Environmental Impact Report (SCH No. 202008350), and adopting the Mitigation Monitoring and Reporting Program and the Statement of Overriding Considerations;
2) introduce on first reading Ordinance No. 501, as amended to: i) add “All development proposed above eighteen (18) in height must require a Site Plan Review, pursuant to Section 13.27 of the Malibu LIP. Should a Site Plan Review be required, the entire development above eighteen (18), including all roof projections, requires the installation of story poles to ensure private view protection” to Exhibit A Section A.1. and Exhibit B Section 1.A.; ii) remove references to the Dark Sky Ordinance from Exhibit A Section A.3.; iii) modify Exhibit A Section A.5.B. and Exhibit B Section E.2. to allow the marquee signs to be oriented perpendicular to Morning View Drive facing east; iv) modify Exhibit A Section A.6. and Exhibit B Section 1.F. to read:
“New development and substantial redevelopment as provided in the Malibu Middle and High School Campus Specific Plan may be allowed in the 100-foot ESHA buffer, but in no case closer than 50 feet as shown on MMHS Campus Specific Plan ESHA Restoration Map Nos. 1, 2, 3 of the Malibu LIP, if it does not significantly disrupt the habitat values of ESHA and may include:

1. ESHA and creek-related educational uses and viewing platforms;

2. Relocation of existing roads, road rights-of-way, utilities, public infrastructure and facilities, and Parking Lots D and E as depicted on the Proposed Site Plan MMHS Campus Specific Plan. The redevelopment shall be accomplished in a manner that involves no increase in development footprint for the portion within the habitat buffer area. If the improvement involves relocation, the new site shall be located no closer to ESHAs, wetlands, or creeks than the existing site and shall minimize encroachment into the habitat buffer to the maximum extent feasible;

3. Fuel modification required by the State Fire Marshall to meet the Fire Code Defensible Space Requirements for existing development in High Fire Hazard Areas; and

4. The following uses may be allowed where the encroachment into the habitat buffer is minimized to the extent feasible, where all feasible mitigation measures have been provided to minimize adverse environmental effects, and the maximum feasible habitat buffer between the development and the habitat is provided:
a. Limited exterior lighting for safety purposes; and
b. Fences necessary for safety, restoration, and protection of habitat.” v) modify Exhibit A Section A.7. and Exhibit B. Section 1.G. to read:

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“The ESHA Restoration Plan, dated July 2022, on file with the City shall be implemented as part of Phase 1 of the MMHS Campus Specific Plan and completed by Phase 4 as specified in the plan. Work shall be completed as shown on “ESHA Restoration Map Nos. 1, 2, and 3.” As a condition of approval of, and prior to issuance of a coastal development permit for Phase I of the Malibu Middle and High School Campus Specific Plan, a phased ESHA Restoration Plan shall be submitted for review and approval by the City Biologist.

During Phase 1 of the MMHS Campus Specific Plan, demolition of hardscape within the 100-foot buffer of the downstream area would occur. Restoration activities that would occur within the entire reach include weed abatement, broadcast of native seed and planting of native stock and invasive plant controls.

Bank stability improvements and erosion control would occur in the upstream and downstream portions of the ESHA during Phase 1, which include the proposed pedestrian trail and new drive aisles.

Demolition of developed areas within the 100-foot buffer of the upstream and middle stream area would occur during Phase 4, as the Bus Barn and other existing structures would remain operational until Phase 4 commences. Upon completion of Phase 4, the pedestrian trail would be completed and connect to existing trails on the campus.

Any proposed changes to the ESHA Restoration Plan on file with the City must be approved by the City Biologist in consultation with the California Coastal Commission Biologist..”, approving Local Coastal Program Amendment (LCPA) No. 21-002, Zoning Map Amendment No. 22-001, and Zoning Text Amendment No. 22-002 to: a) add Section 3.4.6 to Local Coastal Program (LCP) Local Implementation Plan (LIP) Section 3.4 to incorporate the MMHS Campus Specific Plan into the LIP, b) exempt the Malibu Middle and High School (MMHS) from the prohibition of electronic message center (EMC) signs required by LIP Section

3.15.3, c) amend Malibu Municipal Code (MMC) Section 17.42.020 to add subsection “M.” to incorporate the MMHS Campus Specific Plan into the MMC consistent with the proposed LCPA language, d) exempt the MMHS from the prohibition of EMC signs required by MMC Section 17.52.040, e) amend LCP Zoning Map No. 2 to add a boundary line around the MMHS Campus Specific Plan area, denoting the boundaries of the MMHS Campus Specific Plan area for three parcels (Assessor’s Parcel Map Numbers [APNs] 4469-017-900, 4469-018-900, and 4469-018-904) located at 30215 Morning View Drive, and f) amend the MMC Zoning Map consistent with the update to LCP Zoning Map No. 2. 3) adopt Resolution No. 22-33, as amended to: i) replace the cover page and header of Exhibit A; ii) replace Table 1 in Section 1.4 of Exhibit A; iii) replace Table 4 in Section 4.1 of Exhibit A; iv) updates Section 6.1 of Exhibit A to reflect the transportation mitigation measures included in the Mitigation Monitoring and Reporting Program; v) replace Table 15 in Section 6.1 of Exhibit A; vi) replace Table 16 in Section 6.1 of Exhibit A; vii) replace Figures 6, 16, 17, and 18 in Exhibit A; viii) modify Exhibit B to read:
“Amend the LCP Land Use Plan (LUP) to add the following new ESHA policy.

3.24. The following types of new development and substantial redevelopment may be allowed in the 100-foot ESHA buffer, but in no case closer than 50 feet as shown on the Malibu Middle and High School Campus Specific Plan ESHA Restoration Malibu City Council
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Map Nos. 1, 2, and 3 of the Malibu LIP, if it does not significantly disrupt the ESHA habitat values:

1. ESHA and creek-related educational uses and viewing platforms;

2. Relocation of existing roads, road rights-of-way, utilities, public infrastructure and facilities, and Parking Lots D and E as depicted on the MMHS Campus Specific Plan Proposed Site Plan. The redevelopment shall be accomplished in a manner that involves no increase in development footprint for the portion within the habitat buffer area. If the improvement involves relocation, the new site shall be located no closer to ESHAs, wetlands, or creeks than the existing site and shall minimize encroachment into the habitat buffer to the maximum extent feasible;

3. Fuel modification required by the State Fire Marshall to meet the Fire Code Defensible Space Requirements for existing development in High Fire Hazard Areas; and

4. The following uses may be allowed where the encroachment into the habitat buffer is minimized to the extent feasible, where all feasible mitigation measures have been provided to minimize adverse environmental effects, and the maximum feasible habitat buffer between the development and the habitat is provided:
a. Limited exterior lighting for safety purposes; and
b. Fences necessary for safety, restoration, and protection of habitat.”; approving the Malibu Middle and High School Campus Specific Plan, Local Coastal Program Amendment (LCPA) No. 21-002, and General Plan Map Amendment No. 21-001 to: a) amend the LCP Land Use Plan to add a new Environmental Sensitive Habitat Area Policy 3.24 and b) amend the City of Malibu General Plan Land Use Policy Map (Section 3) to revise the land use designation for three parcels (APNs 4469-017-900, 4469-018-900, and 4469-018-904) located at 30215 Morning View Drive.
4) direct staff to schedule second reading and adoption of Ordinance No. 501 for the August 8, 2022 Regular City Council meeting.

The Council discussed the motion and directed questions to staff, Mr. Mazza, and Mr. Upton.

The question was called, and the motion carried 3-2, Councilmember Uhring and Mayor Pro Tem Silverstein opposed.

MOTION Mayor Grisanti moved, and Councilmember Farrer seconded a motion to hear Item No. 6.A. after 10:30 p.m. and prior to Item No. 5.A. The question was called, and the motion carried unanimously.

ITEM 6 NEW BUSINESS
A. Woolsey Fire Rebuild Option 4
Recommended Action: 1) Receive information regarding the history of the processing of fire rebuild applications and comments from the California Coastal Commission; 2) Review the options on how to process applications for fire affected Malibu City Council
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properties that include new development and/or modifications/additions over a 10 percent of the fire damaged structure; and 3) Provide direction to staff.

Planning Director Mollica presented the staff report.

The Council directed questions to staff.

As there were no further questions for staff Mayor Grisanti opened the floor for public comment.

Speakers: Brian Klein, Arielle Verinis, Heather Naylor, Christopher Sorensen, Adria Sorensen, Marissa Coughlan, Jo Drummond, Doug Sandler, Julie Martin, Mark Martin, Norman Haynie, Cynthia Martin, Jeffrey Jennings, Kraig Hill, Evan Contino, Howard Rudzki, Josh Spiegel, Ryan Embree, Jack Silverman, and Dustin Khaleghi
Don Schmitz, Josh Goldman, Mitch Hagerman, and George Poptsis were not present at the time of the hearing.

As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council discussed the item and directed questions to staff.

MOTION Mayor Grisanti moved, and Councilmember Pierson seconded a motion to: 1) move forward with Alternative C in the staff report and continue accepting permit applications under Option 4 until the deadline to apply for Woolsey Fire Fee Waivers specified in Resolution No. 21-62; and 2) schedule a meeting with California Coastal Commission (CCC) Executive Director Jack Ainsworth to discuss Woolsey Fire Rebuild Option 4.

The Council discussed the motion and directed questions to staff.

FRIENDLY AMENDMENT
Mayor Pro Tem Silverstein moved to amend the motion to include Mayor Grisanti and Councilmember Uhring in the meeting with the CCC.

The amendment was accepted by the maker and the seconder.

The Council discussed the amended motion.

The question was called, and the amended motion carried unanimously.

RECESS At 1:30 a.m. on Tuesday, July 12, 2022, Mayor Grisanti recessed the meeting. The meeting resumed at 1:35 a.m. with all Councilmembers present.

ITEM 5 OLD BUSINESS
Malibu City Council
Minutes of July 11, 2022

_________________________
A. Potential Transaction and Use Tax Measure
Recommended Action: 1) Receive report on potential Transaction and Use Tax; 2) Direct staff to bring back resolutions to submit the question to the voters, setting priorities for arguments and rebuttals; 3) Direct the City Attorney to prepare an impartial analysis; and 4) Consider directing staff to hire a consultant to educate Malibu residents regarding the potential ballot question.

Deputy City Manager Shavelson and Lucia Del Puppo, from the Fairbank, Maslin, Maullin, Metz, and Associates Research team presented the staff report.

Mayor Grisanti opened the floor for public comment.

Speaker: Ryan Embree
As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

The Council discussed the item and directed questions to staff.

MOTION Mayor Pro Tem Silverstein moved, and Councilmember Uhring seconded a motion to 1) direct staff to bring back resolutions to submit the question to the voters, setting priorities for arguments and rebuttals; 2) direct the City Attorney to prepare an impartial analysis; and 3) direct staff to bring back an item to hire a consultant to educate Malibu residents regarding the ballot question.

The Council discussed the motion and directed questions to staff.

The question was called, and the motion carried unanimously.

ITEM 7 COUNCIL ITEMS
MOTION Mayor Grisanti moved, and Mayor Pro Tem Silverstein seconded a motion to hear Item Nos. 7.A. and 7.C. after 10:30 p.m. and continue Item No. 7.B. to the August 8, 2022 City Council Regular meeting. The question was called, and the motion carried unanimously.

A. Council Appointment to the Homelessness Task Force
Recommended Action: Councilmember Farrer may make a new appointment to the Homelessness Task Force.

Councilmember Farrer appointed Joshua Spiegel to the Homelessness Task Force.

B. Amendment to May 23, 2022, Council action regarding Malibu Library Set Aside Fund for Fiscal Year 2022-23 (Councilmember Uhring and Mayor Pro Tem Silverstein) (Continued from June 27, 2022)
Malibu City Council
Minutes of July 11, 2022

_________________________
Recommended Action: At the request of Councilmember Uhring and Mayor Pro Tem Silverstein, approve amending the Council action of May 23, 2022, regarding Malibu Library Set Aside Fund for Fiscal Year 2022-23, to rescind approval of the $500,000 endowment for the Los Angeles County Library Foundation.

This item was continued to the August 8, 2022 City Council Regular meeting.

C. Designation of Voting Delegate and Alternate Voting Delegate(s) for the 2022 League of California Cities Annual Conference
Recommended Action: Designate the City’s voting delegate and alternate voting delegate(s) for the League of California Cities 2022 Annual Conference scheduled for September 7-9, 2022 in Long Beach.

Mayor Grisanti opened the floor for public comment.

Speaker: Ryan Embree
As there were no other speakers present, Mayor Grisanti returned the matter to the table for discussion.

MOTION Councilmember Pierson moved, and Mayor Pro Tem Silverstein seconded a motion to designate Mayor Grisanti as the voting delegate for the League of California Cities 2022 Annual Conference. The question was called and the motion carried unanimously.

ADJOURNMENT
At 2:15 a.m. on Tuesday, July 12, 2022 Mayor Grisanti adjourned the meeting.

Approved and adopted by the City Council of the
City of Malibu on __________.
_________________________________
BRUCE SILVERSTEIN, Mayor
ATTEST:
_________________________________
KELSEY PETTIJOHN, City Clerk
(seal)
ATTACHEMENT 4

MINUTES

MALIBU CITY COUNCIL

SPECIAL MEETING
JULY 28, 2022

TELECONFERENCED - VARIOUS LOCATIONS
4:00 P.M.

The following meeting was held pursuant to AB 361 and fully teleconferenced from various locations during the coronavirus disease (COVID-19) pandemic.

MEETING CALL TO ORDER
Mayor Grisanti called the meeting to order at 4:00 p.m.

ROLL CALL
The following persons were recorded in attendance via teleconference by the Recording Secretary:

PRESENT: Mayor Paul Grisanti, Mayor Pro Tem Bruce Silverstein, and Councilmembers Karen Farrer, Mikke Pierson, and Steve Uhring
ALSO PRESENT: Trevor Rusin, Interim City Attorney; Steve McClary, City Manager; and Kelsey Pettijohn, City Clerk

PUBLIC COMMENT ON CLOSED SESSION
Mayor Grisanti opened the floor to public comment.

Speakers: None.

RECESS TO CLOSED SESSION
At 4:02 p.m., on the advice of counsel and based on existing facts and circumstances, the Council recessed to Closed Session to discuss the following items listed on the Closed Session agenda:

Conference with Legal Counsel – Existing Litigation pursuant to Government Code Section 54956.9(d)(1)

1. Case Name: City’s Petition to Form Malibu USD from Territory in the Santa Monica-Malibu USD
At 5:36 p.m., Mayor Grisanti called the meeting back to order with all Councilmembers present.

CLOSED SESSION REPORT
Interim City Attorney Rusin reported that the meeting convened at 4:00 p.m., after which time the City Council recessed to a Closed Session pursuant to Government Code Section Malibu City Council
Minutes of July 28, 2022

_________________________
54956.9(d)(1) with all Councilmembers present. He stated the Council discussed the item on the Closed Session agenda with no reportable action.

ADJOURNMENT
MOTION At 5:38 p.m. Mayor Grisanti adjourned the meeting.

Approved and adopted by the City Council of the
City of Malibu on __________.
_________________________________
BRUCE SILVERSTEIN, Mayor
ATTEST:
_________________________________
KELSEY PETTIJOHN, City Clerk
(seal)

Agenda Item # 3.B.4.

Council Agenda Report
To: Mayor Silverstein and the Honorable Members of the City Council Prepared by: Steve McClary, City Manager
Kelsey Pettijohn, City Clerk
Trevor Rusin, Interim City Attorney
Date prepared: August 2, 2023 Meeting date: August 14, 2023 Subject: Findings to Hold Virtual City Council, Commission, Committee, Board and Other City Bodies, Meetings Under AB 361
RECOMMENDED ACTION: Consider a motion to reaffirm Resolution No. 23-14, reauthorizing remote teleconferencing/virtual meetings pursuant to AB 361.

FISCAL IMPACT: There is no fiscal impact associated with the recommended action.

WORK PLAN: This item was not included in the Adopted Work Plan for Fiscal Year 2021-2022.

DISCUSSION: On March 17, 2020, in the face of the COVID-19 pandemic, Governor Gavin Newsom issued Executive Order N-29-20 suspending certain provisions of the Ralph M. Brown Act in order to allow for local legislative bodies to conduct their meetings completely telephonically or by other electronic means, including allowing councilmembers to not have to post an agenda at their teleconference location, not have to identify their location on the meeting agenda, not have to ensure public accessibility at the teleconference location, and the legislative body did not need a quorum in the jurisdiction. The suspension of certain provisions of the Brown Act was further extended by the Governor on June 11, 2021 by the issuance of Executive Order N-08-21, which continued to allow for complete virtual meetings until September 30, 2021.

On September 16, 2021, the Governor signed AB 361, which allows legislative bodies to meet virtually provided there is a state of emergency declared by the Governor, and either (1) state or local officials have imposed or recommended measures to promote social distancing; or (2) the legislative body determines by majority vote that meeting in person would present imminent risks to the health and safety of attendees. Although the states COVID-19 state of emergency ended on February 28, 2023, AB 361 will remain in City Council Meeting
08-14-23
Item

3.B.4.

Agenda Item # 3.B.4.
effect until January 1, 2024. As noted above, AB 361 authorizes public meetings to be held virtually if specified conditions are met. These conditions include when state or local officials have imposed or recommended measures to promote social distancing.

Research by staff indicates that officials continue to recommend social distancing.

Specifically, California Division of Occupational Safety and Health (“Cal/OSHA”) regulations—at Title 8 Section 3205—recommend physical distancing in the workplace as precautions against the spread of COVID-19 and impose certain restrictions and requirements due to a “close contact” which occurs when individuals are within six feet of another in certain circumstances. Relatedly, the Centers for Disease Control and Prevention continue to recommend avoiding contact and keeping a safe distance from a person who has a suspected or confirmed case of COVID-19.

In order to continue to qualify for the waiver of in-person meeting requirements under AB 361, the Council must, every 30 days, make the required findings. Thus, this item will continue to appear on the agenda to satisfy this requirement during the duration the City Council can make the required findings.

ATTACHMENTS:

Resolution No. 23-14
RESOLUTION NO. 23-14

A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MALIBU
MAKING FINDINGS AND DETERMINATIONS UNDER AB 361 FOR THE

CONTINUATION OF VIRTUAL MEETINGS AND AUTHORIZING VIRTUAL

CITY COUNCIL, COMMISSION, BOARD, AND OTHER CITY MEETINGS PURSUANT TO AB 361
The City Council of the City of Malibu does hereby find, order and resolve as follows:

SECTION 1. Recitals.

A. The Ralph M. Brown Act (Gov. Code § 54950 et seq.) generally requires local agencies meeting via teleconference, including through other virtual or electronic means, to provide public access at each location in which members of the legislative body are teleconferencing; B. On September 16, 2021 the Governor signed AB 361 (in effect as of October 1, 2021 - Government Code Section 54953( e )), which allows legislative bodies to meet virtually provided there is a state of emergency, and either (1) state or local officials have imposed or recommended measures to promote social distancing; or (2) the legislative body determines by majority vote that meeting in person would present imminent risks to the health and safety of attendees; C. The Governor's COVID-19 state of emergency ended on February 28, 2023; D. AB 361 remains in effect until January 1, 2024;
E. AB 361 authorizes legislative bodies to continue meeting virtually if specified conditions are met. These conditions include when state or local officials have imposed or recommended measures to promote social distancing;
F. Among other measures to promote physical distancing, the California Division of Occupational Safety and Health ("Cal/OSHA") regulations-at Title 8 Section 3205-recommend physical distancing in the workplace as precautions against the spread of COVID-19 and impose certain restrictions and requirements due to a "close contact" which occurs when individuals are within six feet of another in certain circumstances;
G. The Centers for Disease Control and Prevention continue to recommend avoiding contact and keeping a safe distance from a person who has a suspected or confirmed case of COVID19; H. To allow for physical distancing and remote meeting attendance in accordance with these recommended measures, the City Council does hereby find that the City Council and all other City bodies shall conduct its meetings without compliance with paragraph (3) of subdivision (b) of Government Code section 54953, as authorized by subdivision ( e) of section 54953, and that the City Council and all other City bodies shall comply with the requirements to provide the public with access to the meetings electronically as prescribed in paragraph (2) of subdivision (e) of section 54953
Attachment 1
Resolution No. 23-14

SECTION 2. All of the above recitals are true and correct and incorporated herein by reference.

SECTION 3. The City Council has considered the above circumstances and hereby recognizes that state and local officials continue to recommend social distancing measures, which can impact the ability of the City and the public to meet safely in person.

SECTION 4. The City Council and all other City bodies shall conduct public meetings in accordance with Government Code section 54953(e) and other applicable provisions of the Brown Act for remote only meetings.

SECTION 5. This Resolution shall take effect immediately upon its adoption and remain in effect for 30 days or until such time as the City Council reaffirms this resolution in accordance with Government Code section 54953(e)(3) to extend the time during which the City Council and all other legislative bodies of the City of Malibu may continue to teleconference without compliance with Government Code §54953(b)(3).

SECTION 6. If any provision of this Resolution or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of the Resolution which can be given effect without the invalid provision or application, and to this end the provisions of this Resolution are severable. The City Council hereby declares that it would have adopted this Resolution irrespective of the invalidity of any particular portion thereof.

SECTION 7. The City Clerk shall certify to the passage and adoption of this resolution and enter it into the book of original resolutions.

PASSED, APPROVED, and ADOPTED this 13th day of March 2023.

ATTEST:

KELSE P 'T�erk
(seal)'
ORM:
rim City Attorney
/7-_ /y�
BR CE SILVERSTEIN, Mayor
... ,
Resolution No. 23-14

I CERTIFY THAT THE FOREGOING RESOLUTION NO. 23-14 was passed and adopted by the City Council of the City of Malibu at the Regular meeting thereof held on the 27th day of March 2023 by the following vote:

A YES: 5 Councilmembers:

NOES: 0
ABSTAIN: 0
ABSENT: 0
KELSEY . TT&¼--�F- 1-k -J
(seal)
Grisanti, Riggins, Stewart, Uhring, Silverstein
City of Malibu
Memorandum

Agenda Item # 3.B.5.

To: Mayor Silverstein and the Honorable Members of the City Council From: Ruth F. Quinto, CPA, City Treasurer
Subject: Investment Report for the Month Ending June 30, 2023 RECOMMENDED ACTION: Receive the Investment Report for the month ending June 30, 2023.

The portfolio is in compliance with the City’s Investment Policy. The City has sufficient liquidity to meet expenditure requirements for at least six months.

This monthly Investment Report is in conformance with Government Code 53636, stating the Treasurer may render a quarterly report to the legislative body within 45 days following the end of the quarter covered by the report.

In addition to funds held on deposit at the Local Agency Investment Fund (LAIF) in the amount of $25.31 million, the investment portfolio represented by each investment category is as follows:

Cash and Cash Equivalents 6.77%
U.S. Treasury 77.89%
U.S. Agencies 0.00%
Certificates of Deposit 15.34%
Portfolio investments month to month:

Investment
Issuer/Instrument Type
May 31, 2023 June 30, 2023
Amount
(in millions) Yield(A) %
Amount
(in millions) Yield(A) %
LAIF Investment $28.31 3.10% 32.91% $25.31 3.26% 27.26% CDs Investment $10.62 4.38% 12.34% $10.36 4.64% 11.16%
Treasury Bills Investment $ 9.06 4.64% 10.52% $15.09 4.97% 16.25% Treasury Notes Investment $33.37 3.69% 38.79% $37.52 3.72% 40.41% Money Market Investment $ 4.68 4.35% 5.44% $ 4.57 4.40% 4.93% Blended Yield 3.72% 3.93%
Total Duration(Years) 0.94 0.95
(A)Yield is based on Purchase Yield for Treasury Bills
2-Year U.S. Treasury Note Benchmark, as of June 30, 2023: 4.87% The fair market value of all investments as held by the City is $92,850,037 as of June 30, 2023.

The City also held $9,198,500 in the bank operating account, for a total of $102,048,536.

ATTACHMENTS:

1. City of Malibu Portfolio Statement

2. City of Malibu Investment Portfolio Report
City Council Meeting
08-14-23
Item

3.B.5.

SNAPSHOT
Current period ending June 30, 2023
ACCOUNT NAME: CITY OF MALIBU

RUTH QUINTO
Your Financial Advisor:

WILLIAM GOMBERG 701 S PARKER STREET
Phone: 714-497-1366 SUITE 2500
ORANGE, CA 92868
If you have more than one account with us, why not link them and receive summary information for your entire household? Contact Your Financial Advisor for more details.

CITY OF MALIBU Message from Our Firm
RUTH QUINTO WHAT IMPACT WILL INTEREST RATES AND INFLATION HAVE IN THE COMING MONTHS? FIND 23825 STUART RANCH ROAD OUT WHAT WELLS FARGO INVESTMENT INSTITUTE SEES AHEAD IN ITS "2023 MIDYEAR OUTLOOK: NAVIGATING END-OF-CYCLE TURBULENCE" REPORT. VISIT MALIBU CA 90265-4861 WELLSFARGOADVISORS.COM/MIDYEAR-OUTLOOK TO LEARN MORE.

News

SHOULD YOU NEED ADDITIONAL DETAILS ABOUT A SPECIFIC TRANSACTION REFLECTED ON

YOUR STATEMENT, THE INFORMATION IS AVAILABLE ONLINE OR BY CONTACTING THE CLIENT SERVICE NUMBER ON YOUR STATEMENT.

Investment and Insurance Products are: Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC, (WFAFN). Account(s) are carried by Wells Fargo Clearing • Not Insured by the FDIC or Any Federal Government Agency Services, LLC (WFCS). Wells Fargo Advisors is a trade name used by WFAFN and • Not a Deposit or Other Obligation of, or Guaranteed by, the Bank or Any Bank WFCS, Members SIPC, separate registered broker-dealers and non-bank affiliates of Affiliate Wells Fargo & Company.
• Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested

SNAPSHOT
072 ANCA ANC9
Attachment 1
General About your rights and responsibilities instructions and disclosures Questions and complaints about Your Account: This account statement contains important information About this statement about your brokerage account, including recent transactions. All account statements sent to you shall be deemed Clearing services: Wells Fargo Clearing Services, LLC (WFCS), an indirect wholly owned subsidiary of Wells complete and accurate if not objected to in writing within ten days of receipt. We encourage you to review the details Fargo & Company, is a clearing broker-dealer registered with the Securities and Exchange Commission (SEC) and in this statement. If you do not understand any of the information in your statement or if you believe there are any the Municipal Securities Rulemaking Board (MSRB) and is a member of the New York Stock Exchange (NYSE), the inaccuracies or discrepancies in your statement, you should promptly report them to both WFCS and to the manager Financial Industry Regulatory Authority (FINRA) and all principal U.S. exchanges. WFCS carries your account(s) and of the Wells Fargo Advisors Financial Network office listed on the front of your statement. To further protect your acts as your custodian for funds and securities deposited with us directly by you, through our affiliated broker-dealer, rights, including any rights under the Securities Investor Protection Act, any verbal communications with either your Wells Fargo Advisors Financial Network, LLC (Wells Fargo Advisors) or as a result of transactions WFCS processes Wells Fargo Advisors Financial Network office or with WFCS should be re-confirmed in writing. Inquiries or for your account. Twice a year, WFCS publishes on its web site www.wfclearing.com a statement of the firm's complaints about your account statement, including the positions and balances in your account, may be directed to financial condition. A financial statement of this organization is available for your personal inspection at its offices, or Wells Fargo Advisors Client Services at (866) 258-4606 or ATTN: H0005-087, 1 N. Jefferson Ave, St. Louis, MO a copy of it will be mailed upon your written request. Unless and until we receive written notice from you to the 63103. contrary, WFCS may, without inquiry or inves igation, accept from Wells Fargo Advisors (i) orders for the purchase or Public disclosure: You may reach FINRA by calling the FINRA BrokerCheck Hotline at (800) 289-9999 or by visiting sale of securities for your account on margin or otherwise, and (ii) any other instructions concerning your account. the FINRA website at www.finra.org. An investor brochure that includes information describing FINRA BrokerCheck Trade date statement and trade details: All activity and positions on this statement are shown as of the date a is available from FINRA upon request. A brochure describing the FINRA Pricing of Securities Regula ion Public trade is entered on the brokerage trading system (i.e., the trade date). Proceeds from the sale of securities and costs Disclosure Program is also available from the FINRA upon request. for the purchase of securities are not transacted through your account until the actual settlement date of the trade. MSRB disclosure: A brochure describing the protections available under MSRB rules and how to file a complaint is The time of the transactions, the name of the buyer or seller, and the source and amount of any commission or fee available at www.MSRB.org. will be furnished upon written request.

Account protection: WFCS is a member of the Securities Investor Protection Corporation (SIPC) which protects Pricing of securities: Securities prices on your statement may vary from actual liquidation value. Prices are against the loss of cash and securities held in client accounts of a SIPC member firm in the event of the member's provided by outside quotation services which we believe are reliable but due to the nature of market data the accuracy insolvency and liquidation. SIPC coverage is limited to $500,000 per customer, including up to $250,000 for cash. For cannot be guaranteed. In the absence of such pricing, prices are estimated by WFCS using available information and more information on SIPC coverage, please see the explanatory brochure at www.sipc.org or contact SIPC at (202) its judgment. Such estimates may not reflect actual trades and do not reflect a commitment by the firm to buy or sell 371-8300. In addition, WFCS maintains additional insurance coverage provided through London Underwriters (led by at those prices. Securities listed on a national exchange are priced as of the close of the statement period. Unlisted Lloyd's of London Syndicates). This additional insurance policy becomes available to clients if their SIPC limit is shares may be valued at the current best published "bid-price", and, if none exists, the last reported transaction if exhausted and provides additional protection up to a firm aggregate of $1 billion, including up to $1.9 million for cash occurring within the last 45 days. Prices of securities not actively traded may not be available and are indicated by per client. SIPC does not insure the quality of investments or protect against market losses. SIPC only protects the "N/A." Corporate and municipal bonds and other fixed income securities are priced by a computerized pricing service custody function of their members, which means that SIPC works to restore to clients their securities and cash that or, if less actively traded, by utilizing a yield-based matrix system to arrive at an estimated market value. Listed are in their accounts when the member firm liquidation begins. Not all investments are protected by SIPC. In general, options are priced based on the closing "bid-ask" prices and the last reported trade. Mutual fund shares are priced at SIPC does not cover instruments such as unregistered investment contracts, unregistered limited partnerships, fixed net asset value. Shares of direct participation program (DPP) and real estate investment trust (REIT) securities that annuity contracts, escrow receipts, direct investments, currency, commodities or related contracts, hedge funds and are not listed on a national exchange are generally illiquid. Because no trading market exists for these investments, certain other investments. their values are estimated. Unless otherwise indicated, the values shown for DPP and REIT securities have been provided by the management of each program and represent that management's estimate of the investor's interest in Free credit balances: Free credit balances are not segregated and may be used by WFCS in the operation of its the net assets of the program. See statement sections for additional pricing information. Values for hedge funds and business in accordance with applicable laws and regulations. You have the right to receive from us in the course of certain managed futures funds are provided on a month delay basis. Other managed futures funds may be priced normal business operations, subject to any open commitments in any of your accounts, any free credit balances to more frequently. Long-term certificates of deposit (maturity beyond one year from date of issue) are priced using a which you are entitled. market value pricing model. The sale or redemption price of your securities may be higher or lower than the prices Investment objectives/Risk tolerances: Please inform us promptly of any material change that might affect shown on your statement. For an actual quote, contact the individual servicing your account. your investment objectives, risk tolerances or financial situation, or if you wish to impose or change any reasonable Estimated annual income/yield: Estimated Annual Income (EAI), when available, reflects the estimated amount restrictions on the management of your account. A copy of the Investment Advisory Services Disclosure document is you would earn on a security if your current position and its related income remained constant for a year. Estimated available without charge upon request. Please contact the individual denoted on the front of your statement to update Annual Yield (EAY), when available, reflects the current estimated annual income divided by the current value of the your information and to receive a copy of this document. security as of the statement closing date. EAI and EAY are estimates and the actual income and yield might be lower Option accounts: Pursuant to FINRA Rule 2360, option assignment notices are randomly allocated by an or higher than the estimated amounts. EAY reflects only the income generated by an investment. It does not reflect automated process amongst all client short option positions that are subject to exercise, including posi ions changes in its price, which may fluctuate. The information used to derive these estimates is obtained from various established on the day of assignment. Transaction confirmations that were previously furnished to you provides outside vendors; WFCS and Wells Fargo Advisors Financial Network, LLC are not responsible for incorrect or information on commissions and other charges related to your option transaction executions. Details of our random missing estimated annual income and yields. Past performance is not a guarantee of future results. allocation procedures and copies of transaction confirmations are available upon request.

Income summary: The Income summary displays all income as recorded in the tax system as of period end date.

The totals in the Cash flow snapshot may not match the totals in the Income snapshot due to reclassifications or other corrections made in the tax system. Remember, you may have certain products that are not included in these figures and whose income is only available on the tax forms sent to you at year-end. Reclassifications and other tax reporting requirements may alter these numbers both during and after year end. You should rely only on tax reporting documents. Contact your tax advisor if you have any questions about the tax consequences of your brokerage activity.

Texas designation: If you are a resident of Texas who has purchased mutual fund shares, you may designate a representative to receive notification to assist in avoiding escheatment of assets in your investment account to the State of Texas. The designated representative does not have any rights to your account. Please use the Texas Unclaimed Property link (https://claimittexas.org/) to access the Designation of Representative for Notice Request form which you may complete and return to us at ATTN: H0006-08K, 1 N. Jefferson Ave, St. Louis, MO 63103 or return by email at [email protected].

Tax reporting: We are required by federal law to report annually to you and to the Internal Revenue Service (IRS) on Form(s) 1099 interest income, dividend payments and sales proceeds including cost basis information for applicable transactions credited to your account.

News from Wells Fargo Advisors
Fractional Share Trading Disclosure
We are providing you notice of important disclosures regarding fractional share trading. If you have any question regarding these updates, please contact your Financial Advisor or call the telephone number listed on your account statement.

WFCS will offer fractional share purchases of certain securities ("Stock Fractions SM") to eligible online trade-enabled brokerage accounts through the Wells Fargo Mobile® application ("WF app"). Stock Fractions trading is governed by the following terms and the Wells Fargo Online Access Agreement and other applicable account agreement(s) with WFCS. Fractional share trading presents unique risks and has certain limitations that you should understand before placing your first trade. WFCS reserves the right to change the terms for Stock Fractions trading at any time.

Stock Fractions trading is a service which allows you to purchase a fractional share of eligible stocks (which includes certain ETFs) rather than a whole share quantity or along with a whole share quantity by entering a dollar purchase amount. Depending on the purchase amount, you may end up owning both fractional amounts of stocks and whole amounts of stocks.

WFCS does not recommend or provide advice as to whether Stock Fractions or fractional share trading is appropriate for you, and neither the availability of Stock Fractions, fractional share trading nor these terms are intended as a recommendation, offer or solicitation for the purchase or sale of any security or investment strategy. All investment decisions you make involving fractional share trading are solely your responsibility. The eligibility of stocks in Stock Fractions trading, or any classifications or any other groupings of eligible stocks in Stock Fractions trading, is not intended as investment advice or a recommendation to purchase any securities.

Eligible Stocks
Stock Fractions trading is limited to certain eligible stocks. WFCS reserves the right to suspend, delete or otherwise modify the stocks eligible for Stock Fractions trading, at any time without notice. Any modification to the list of stocks eligible for Stock Fractions trading will not affect any fractional share interests you previously purchased. In the event a stock becomes ineligible for further Stock Fractions trading, existing fractional positions may still be liquidated. WFCS does not guarantee that there will be a market for any Stock Fractions positions and makes no representations or warranties about any Stock Fractions trading positions. The ability to purchase fractional shares may be temporarily or permanently suspended at WFCS's discretion at any time without prior notice. Additionally, WFCS reserves the right to cancel at any time, without prior notice, any pending fractional share orders.

Trading and Rights
You will receive prorated dividends on Stock Fractions positions so long as the dividend amount is greater than or equal to $0.01. Stock Fractions positions are eligible for automatic dividend reinvestment of cash dividends received in accordance with the terms of the DRIP. Your eligibility to participate in corporate actions (including tender offers, proxy voting and other voluntary corporate actions) may be different for fractional shares than with whole shares. In some instances, you may not be able to participate in some corporate actions or exercise voting rights for your fractional shares. You will own the fractional share portion of a stock you purchase through Stock Fractions. Your account and your account statements will reflect your fractional share positions. Fractional shares within your account are unrecognized by third-parties, unmarketable, illiquid outside WFCS, and are not transferrable in-kind and may only be liquidated and the proceeds withdrawn or transferred out. Stock certificates cannot be issued for fractional shares.

WFCS will act in a principal or mixed capacity basis (i.e., both as agent and principal) when executing fractional share trading orders. The whole share portion of an order will be executed by WFCS as agent in the market. The fractional share portion of any order will be executed by WFCS as principal against its Stock Fractions inventory account. When facilitating client fractional share trading activity on a principal basis, WFCS may make a profit or incur a loss on each trade. When a fractional share position is allocated to your account, WFCS will maintain custody of the whole share in which you own the fractional interest. Any fractional interest in the whole share that is not allocated to your account may be allocated to other customers or to WFCS as principal.

Stock Fractions orders are permitted for a minimum investment of ten US dollars ($10.00) and a maximum investment of twenty-five thousand US dollars ($25,000.00). Stock Fractions orders are entered using a dollar value (e.g., $250.00), which will be converted into fractional share quantities for execution. The actual dollar amount of an executed Stock Fractions order may be less than the requested dollar amount to invest. This can be due to the conversion and truncating of the fractional quantity. All Stock Fractions orders will be treated as held market orders. WFA does not accept limit orders for Stock Fractions. Once you acquire Stock Fractions in a particular stock, if you sell all of your whole shares, any News from Wells Fargo Advisors continued
remaining fractional shares will automatically append to the last whole share sell order. Sell orders are entered on the Stocks/ETFs trading page. Limit orders are accepted for eligible sell orders, (i.e., limit orders are permitted for sell orders of a whole plus a fractional share). Once a Stock Fractions order has been placed for execution it cannot be modified or cancelled by you.

Stock Fractions orders may only be executed during regular trading hours and not during extended hours trading sessions. Stock Fractions purchase orders may only be placed during regular trading hours. Eligible sell orders that include fractional shares may be entered outside of regular trading hours and will be executed when the market opens the next trading day. You agree that WFCS is not responsible for any market fluctuations. In the event of a trading halt, fractional share trading of that stock will also be halted, and your order will remain open and unexecuted until trading resumes. If trading does not resume by the end of that day's regular trading hours, your Stock Fractions trading order(s) will be cancelled.

The estimated share quantity quoted at order entry and the actual shares received at execution could be significantly different because of stock price fluctuations. If you delay submitting an order, market movement during the delay could cause wider discrepancies between estimated and actual execution prices. All Stock Fractions transactions will be executed at the then current NBBO or better. This price may be higher or lower than the price at the time you place your order.

Stock Fractions trading orders are not eligible for primary listed exchange opening or closing cross participation, as fractions of shares are not marketable outside of WFCS.

SNAPSHOT Page 2 of 24

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Cash flow summary THIS PERIOD THIS YEAR
Opening value of cash and sweep balances $145,931.99
Income and distributions 44,140.47 265,747.55
Securities sold and redeemed 4,250,000.00 9,260,522.44
Electronic funds transfers 10,000,000.00 65,000,000.00
Net additions to cash $14,294,140.47 $74,526,269.99
Securities purchased -14,416,755.54 -74,548,787.59
Net subtractions from cash -$14,416,755.54 -$74,548,787.59 Closing value of cash and sweep balances $23,316.92
Income summary * THIS PERIOD THIS YEAR
TAXABLE Money market/sweep funds 1,022.14 14,701.83
Interest 74,058.65 237,910.74
Ordinary dividends and ST capital gains 16,606.00 60,681.30 Total taxable income $91,686.79 $313,293.87
Total federally tax-exempt income $0.00 $0.00
Total income $91,686.79 $313,293.87
* Certain distributions made in he current year are reported as prior year income according to IRS regulations. This may cause a difference between Cash Flow and Income Summary totals.

Gain/loss summary UNREALIZED THIS PERIOD REALIZED THIS YEAR REALIZED Short term (S) -482,327.94 0.00 0.00
Long term (L) -136,984.68 0.00 0.00
Total -$619,312.62 $0.00 $0.00

SNAPSHOT
072 ANCA ANC9
SNAPSHOT Page 3 of 24

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Your Financial Advisor Client service information
WILLIAM GOMBERG 701 S PARKER STREET Client service: 800-266-6263 Phone: 714-497-1366 SUITE 2500 Website: www.wellsfargoadvisors.com ORANGE, CA 92868
Account profile
Full account name: CITY OF MALIBU

RUTH QUINTO
Account type: Brokerage Cash Services For your consideration Brokerage Go paperless. Accessing your account documents online is easy, secure, and Brokerage Cash Services number: 9091092513 costs nothing. Sign on at wellsfargoadvisors.com, go to Portfolio and select Tax status: Non-Profit Statements & Docs, and then click on the Delivery Preferences link. Choose Investment objective/Risk tolerance:* CONSERVATIVE INCOME Paperless - All Docs or view your Delivery Settings details to select specific Time horizon:* INTERMEDIATE (3-5 YEARS) account documents for paperless delivery. If you do not have a Username and Liquidity needs:* MODERATE Password, visit wellsfargoadvisors.com/signup or call 1-877-879-2495 for Cost Basis Election: First in, First out enrollment assistance.

Sweep option: ALLSPRING GOVERNMENT MONEY
MARKET Document delivery status
*For more information, please visit us at: www.wellsfargoadvisors.com/disclosures Paper Electronic Statements: X Available funds Trade confirmations: X
Cash 0.00 Tax documents: X
Money market and sweep funds 23,316.92 Shareholder communications: X Available for loan 0.00 Other documents: X
Your total available funds $23,316.92

SNAPSHOT
072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Bond maturity schedule % OF
MATURING IN: AMOUNT MATURING CURRENT VALUE MATURING VALUE under 1 year 34,742,000.00 34,306,888.79 53.36
45,000,00 1 to 5 years 30,369,000.00 28,655,293.09 46.64 6 to 10 years 0.00 0.00 0.00
30,000,00 11 to 15 years 0.00 0.00 0.00
16 to 20 years 0.00 0.00 0.00
21 to 30 years 0.00 0.00 0.00
15,000,00 over 30 years 0.00 0.00 0.00
Total $65,111,000.00 $62,962,181.88 100.00%
0 under 1 1 - 5 6 - 10 11 - 15 16 - 20 21 - 30 Over 30
Years
Additional information

THIS PERIOD THIS YEAR THIS PERIOD THIS YEAR
Accrued interest on purchases -42,662.53 -179,197.91 Gross proceeds 250,000.00 5,260,522.44 Portfolio detail
Cash and Sweep Balances
Sweep Balances - You have the right, in the course of normal business operations, to withdraw balances in the Bank Deposit Sweep Program(s) or redeem shares of the money market mutual fund used in the sweep, subject to any open commitments in any of your accounts and have the proceeds returned to your accounts or remitted to you. The money market mutual funds in the sweep reserve the right to require one or more day's prior notice before permitting withdrawals.

Money Market Mutual Fund - Funds seek to preserve a value at $1.00 per share, but it is possible to lose money by investing in these funds. Investments in money market funds are not bank deposits and are not insured by the FDIC or any other government agency. They are instead covered by SIPC. Estimated Annual Yield on money market funds, when available, reflects the current estimated yield for the Interest Period dates displayed. For more complete information, including fees, expenses and risks, please request a prospectus from Your Financial Advisor.
% OF CURRENT EST MATED ESTIMATED CURRENT
DESCRIPTION ACCOUNT MARKET VALUE ANNUAL INCOME YIELD (%) ALLSPRING 0.03 23,316.92 1,084.00 4.65

GOVERNMENT MONEY MARKET
Interest Period 06/01/23 - 06/30/23
Total Cash and Sweep Balances 0.03 $23,316.92 $1,084.00 072 ANCA ANC9
Amount Maturing

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Fixed Income Securities
Corporate and municipal bonds and other fixed income securities are priced by a computerized pricing service or, for less actively traded issues, by utilizing a yield-based matrix system to arrive at an estimated market value.

Government Bonds

ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%) US TREASURY ^
BILL
DUE 08/10/23
DTD 08/11/22
CUSIP 912796XY0
Acquired 02/09/23 S nc 7.54 5,117,000 97.72 5,000,743.80 99.4580 5,089,265.86 88,522.06 N/A N/A N/A

US TREASURY
NOTES
CPN 0.250% DUE 09/30/23
DTD 09/30/21 FC 03/31/22
Moody AAA
CUSIP 91282CDA6
Acquired 03/15/23 S 5.85 4,000,000 97.94 3,917,677.00 98.7840 3,951,360.00 33,683.00 2,513.66 10,000 0.25

US TREASURY
BILL
DUE 10/17/23
DTD 06/20/23
CUSIP 912797HB6
Acquired 06/29/23 S nc 5,077,000 98.49 5,000,526.21 4,999,068.05 -1,458.16 Acquired 06/29/23 S nc 5,076,000 98.49 4,999,541.27 4,998,083.40 -1,457.87 Total 14.80 10,153,000 $10,000,067.4 98.4650 $9,997,151.45 -$2,916.03 N/A N/A N/A $98.49 8

US TREASURY
NOTES
CPN 2.750% DUE 02/15/24
DTD 02/15/14 FC 08/15/14
Moody AAA
CUSIP 912828B66
Acquired 06/21/23 S 6.44 4,422,000 98.53 4,357,419.53 98.3590 4,349,434.98 -7,984.55 45,685.86 121,605 2.79 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Fixed Income Securities
Government Bonds continued

ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)

US TREASURY
NOTES
CPN 2.125% DUE 03/31/24
DTD 03/31/17 FC 09/30/17
Moody AAA
CUSIP 912828W71
Acquired 03/15/23 S 5.78 4,000,000 98.15 3,926,128.24 97.6090 3,904,360.00 -21,768.24 21,366.12 85,000 2.17

US TREASURY
NOTES
CPN 2.500% DUE 04/30/24
DTD 04/30/22 FC 10/31/22
Moody AAA
CUSIP 91282CEK3
Acquired 05/18/23 S 1.45 1,000,000 97.93 979,328.56 97.6130 976,130.00 -3,198.56 4,211.96 25,000 2.56

US TREASURY
NOTES
CPN 0.375% DUE 09/15/24
DTD 09/15/21 FC 03/15/22
Moody AAA
CUSIP 91282CCX7
Acquired 03/15/23 S 5.58 4,000,000 95.07 3,802,819.52 94.2530 3,770,120.00 -32,699.52 4,402.17 15,000 0.39

US TREASURY
NOTES
CPN 1.750% DUE 03/15/25
DTD 03/15/22 FC 09/15/22
Moody AAA
CUSIP 91282CED9
Acquired 03/15/23 S 5.60 4,000,000 96.35 3,854,194.52 94.5930 3,783,720.00 -70,474.52 20,543.48 70,000 1.85

US TREASURY
NOTES
CPN 3.500% DUE 09/15/25
DTD 09/15/22 FC 03/15/23
Moody AAA
CUSIP 91282CFK2
Acquired 03/15/23 S 5.76 4,000,000 99.85 3,994,132.00 97.2960 3,891,840.00 -102,292.00 41,086.96 140,000 3.59 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Fixed Income Securities
Government Bonds continued

ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)

US TREASURY
NOTES
CPN 2.250% DUE 03/31/26
DTD 03/31/19 FC 09/30/19
Moody AAA
CUSIP 9128286L9
Acquired 03/15/23 S 5.57 4,000,000 96.38 3,855,382.00 94.0970 3,763,880.00 -91,502.00 22,622.95 90,000 2.39

US TREASURY
NOTES
CPN 0.750% DUE 08/31/26
DTD 08/31/21 FC 02/28/22
Moody AAA
CUSIP 91282CCW9
Acquired 03/15/23 S 5.28 4,000,000 91.07 3,643,007.00 89.1870 3,567,480.00 -75,527.00 10,027.17 30,000 0.84

US TREASURY
NOTES
CPN 2.500% DUE 03/31/27
DTD 03/31/22 FC 09/30/22
Moody AAA
CUSIP 91282CEF4
Acquired 03/15/23 S 5.55 4,000,000 96.45 3,858,132.00 93.7140 3,748,560.00 -109,572.00 25,136.61 100,000 2.66

US TREASURY
NOTES
CPN 3.125% DUE 08/31/27
DTD 08/31/22 FC 02/28/23
Moody AAA
CUSIP 91282CFH9
Acquired 03/15/23 S 2.68 1,894,000 98.59 1,867,461.42 95.6360 1,811,345.84 -56,115.58 19,782.78 59,188 3.26 Total Government Bonds 77.89 54,586,000 $53,056,493.0 $52,604,648.13 -$451,844.94 $217,379.72 $745,793 1.42 7 ^ Denotes bonds with a maturity date in the next 60 days. Please contact us for further investment opportunities or any assistance. nc Cost information for this tax lot is not covered by IRS reporting requirements. Unless indicated, cost for all other lots will be reported to the IRS. 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Fixed Income Securities
Certificates of Deposit
Long-term certificates of deposit (maturity beyond one year from date of issue) are priced using a market value pricing model.

ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)

VALLEY NATL BK WAYNE CD
WAYNE NJ ACT/365

FDIC INSD
CPN 5.150% DUE 09/18/23
DTD 03/17/23 FC 09/18/23
CUSIP 919853HV6
Acquired 03/14/23 S nc 0.37 250,000 100.00 250,000.00 99.9510 249,877.50 -122.50 3,739.04 12,875 5.15

BANK OF CHINA/NEW YOR CD
NEW YORK NY ACT/365

FDIC INSD
CPN 5.150% DUE 11/24/23
DTD 05/24/23 FC 11/24/23
CUSIP 06428FH26
Acquired 05/18/23 S nc 0.37 250,000 100.00 250,000.00 99.9280 249,820.00 -180.00 1,340.41 12,875 5.15

FIRST HORIZON BANK CD
MEMPHIS TN ACT/365

FDIC INSD
CPN 5.150% DUE 11/24/23
DTD 05/24/23 FC 11/24/23
CUSIP 337158AV1
Acquired 05/18/23 S nc 0.37 250,000 100.00 250,000.00 99.9280 249,820.00 -180.00 1,340.41 12,875 5.15

MIZUHO BANK USA CD
NEW YORK NY ACT/365

FDIC INSURED
CPN 5.000% DUE 11/24/23
DTD 05/24/23 FC 11/24/23
CUSIP 60700PB26
Acquired 05/18/23 S nc 0.37 250,000 100.00 250,000.00 99.8690 249,672.50 -327.50 1,301.37 12,500 5.00

BANC CALIF NA CD
IRVINE CA ACT/365

FDIC INSURED
CPN 5.100% DUE 11/27/23
DTD 05/26/23 FC 11/27/23
CUSIP 05961SQX5
Acquired 05/18/23 S nc 0.37 250,000 100.00 250,000.00 99.9070 249,767.50 -232.50 1,257.53 12,750 5.10 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Fixed Income Securities
Certificates of Deposit continued

ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)

TRUSTMARK NATL BK CD
JACKSON MISS ACT/365

FDIC INSURED
CPN 5.150% DUE 11/27/23
DTD 05/26/23 FC 11/27/23
CUSIP 898401DA9
Acquired 05/18/23 S nc 0.37 250,000 100.00 250,000.00 99.9280 249,820.00 -180.00 1,269.86 12,875 5.15

MIZRAHI TEFAHOT BANK/ CD
LOS ANGELES CA ACT/365

FDIC INSD
CPN 5.150% DUE 11/30/23
DTD 05/30/23 FC 11/30/23
CUSIP 60685BQB0
Acquired 05/18/23 S nc 0.37 250,000 100.00 250,000.00 99.9270 249,817.50 -182.50 1,128.76 12,875 5.15

MORGAN STANLEY PVT BK CD
PURCHASE NY ACT/365

FDIC INSD
CPN 3.550% DUE 12/06/23
DTD 12/06/18 FC 06/06/19
CUSIP 61760ASZ3
Acquired 11/28/18 L 0.37 250,000 100.00 250,000.00 99.2390 248,097.50 -1,902.50 607.88 8,875 3.57

BANK HOPE CD
LOS ANGELES CA ACT/365

FDIC INSURED
CPN 5.250% DUE 12/26/23
DTD 03/24/23 FC 12/26/23
CUSIP 062683HE0
Acquired 03/14/23 S nc 0.37 250,000 100.00 250,000.00 99.9390 249,847.50 -152.50 3,559.93 13,125 5.25

BANK OZK CD
LITTLE ROCK AR ACT/365

FDIC INSD
CPN 5.000% DUE 01/22/24
DTD 05/22/23 FC 06/22/23
CUSIP 06418CHC3
Acquired 05/18/23 S nc 0.37 250,000 100.00 250,000.00 99.8260 249,565.00 -435.00 308.22 12,500 5.00 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Fixed Income Securities
Certificates of Deposit continued

ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)

BEAL BANK USA CD
LAS VEGAS NV ACT/365

FDIC INSD
CPN 4.750% DUE 02/21/24
DTD 02/22/23 FC 02/21/24
CUSIP 07371DRD1
Acquired 02/09/23 S nc 0.37 250,000 100.00 250,000.00 99.5740 248,935.00 -1,065.00 4,196.91 11,875 4.77

HANCOCK WHITNEY BANK CD
GULFPORT MS ACT/365

FDIC INSD
CPN 5.250% DUE 02/26/24
DTD 05/25/23 FC 02/26/24
CUSIP 41024LBS7
Acquired 05/18/23 S nc 0.37 250,000 100.00 250,000.00 99.9270 249,817.50 -182.50 1,330.48 13,125 5.25

BRADESCO BANK CD
CORAL GABLES FL ACT/365

FDIC INSD
CPN 5.200% DUE 03/04/24
DTD 06/02/23 FC 03/04/24
CUSIP 10421AAB3
Acquired 05/18/23 S nc 0.37 250,000 100.00 250,000.00 99.8940 249,735.00 -265.00 1,032.88 13,000 5.20

SANTANDER BANK NA CD
WILMINGTON DE ACT/365

FDIC INSD
CPN 5.250% DUE 03/15/24
DTD 03/17/23 FC 03/15/24
CUSIP 80280JVQ1
Acquired 03/15/23 S nc 0.37 250,000 100.00 250,000.00 99.8780 249,695.00 -305.00 3,811.65 13,125 5.25

WEBBANK CD
SALT LAKE CITY UTACT/365

FDIC INSURED
CPN 5.250% DUE 03/19/24
DTD 03/20/23 FC 03/19/24
CUSIP 947547US2
Acquired 03/15/23 S nc 0.37 250,000 100.00 250,000.00 99.8760 249,690.00 -310.00 3,703.77 13,125 5.25 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Fixed Income Securities
Certificates of Deposit continued

ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)

BARCLAYS BANK/DELAWAR CD
WILMINGTON DE ACT/365

FDIC INSD
CPN 5.400% DUE 03/21/24
DTD 03/22/23 FC 03/21/24
CUSIP 06740KRN9
Acquired 03/14/23 S nc 0.37 250,000 100.00 250,000.00 99.9800 249,950.00 -50.00 3,735.62 13,500 5.40

CITIZENS BANK NA/RI CD
PROVIDENCE RI ACT/365

FDIC INSD
CPN 5.300% DUE 03/21/24
DTD 03/22/23 FC 03/21/24
CUSIP 75524KQH0
Acquired 03/15/23 S nc 0.37 250,000 100.00 250,000.00 99.9110 249,777.50 -222.50 3,666.44 13,250 5.30

OCEANFIRST BANK NA CD
TOMS RIVER NJ ACT/365

FDIC INSD
CPN 5.150% DUE 03/21/24
DTD 03/22/23 FC 03/21/24
CUSIP 67523TCE1
Acquired 03/15/23 S nc 0.37 250,000 100.00 250,000.00 99.8060 249,515.00 -485.00 3,562.67 12,875 5.16

RENASANT BK TUPELO MS CD
TUPELO MS ACT/365

FDIC INSD
CPN 5.300% DUE 03/21/24
DTD 03/22/23 FC 03/21/24
CUSIP 759701BH7
Acquired 03/15/23 S nc 0.37 250,000 100.00 250,000.00 99.9110 249,777.50 -222.50 3,666.44 13,250 5.30

CHARLES SCHWAB BK SSB CD
RENO NV ACT/365

FDIC INSD
CPN 5.350% DUE 03/22/24
DTD 03/17/23 FC 09/17/23
CUSIP 15987UAU2
Acquired 03/15/23 S 0.37 250,000 100.00 250,000.00 99.7800 249,450.00 -550.00 3,884.24 13,375 5.36 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Fixed Income Securities
Certificates of Deposit continued

ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)

ASSOCIATED BK GREEN B CD
STEVENS POINT WI ACT/365

FDIC INSD
CPN 5.150% DUE 05/21/24
DTD 05/22/23 FC 05/21/24
CUSIP 045491NU7
Acquired 05/18/23 S nc 0.37 250,000 100.00 250,000.00 99.7340 249,335.00 -665.00 1,410.96 12,875 5.16

GOLDMAN SACHS BK USA CD
NEW YORK NY ACT/365

FDIC INSD
CPN 5.000% DUE 05/22/24
DTD 05/24/23 FC 05/22/24
CUSIP 38150VHQ5
Acquired 05/18/23 S nc 0.37 250,000 100.00 250,000.00 99.6040 249,010.00 -990.00 1,301.37 12,500 5.01

AMERICAN EXPR NATL BK CD
SALT LAKE CTY UT ACT/365

FDIC INSD
CPN 5.100% DUE 05/23/24
DTD 05/24/23 FC 05/23/24
CUSIP 02589AET5
Acquired 05/18/23 S nc 0.07 50,000 100.00 50,000.00 99.6880 49,844.00 -156.00 265.48 2,550 5.11

BANK OF AMERICA NA CD
CHARLOTTE NC ACT/365

FDIC INSD
CPN 5.150% DUE 05/23/24
DTD 05/24/23 FC 05/23/24
CUSIP 06051VT89
Acquired 05/18/23 S nc 0.37 250,000 100.00 250,000.00 99.7320 249,330.00 -670.00 1,340.41 12,875 5.16

US BANK NATL ASSOC CD
MINNEAPOLIS MN ACT/365

FDIC INSD
CPN 5.100% DUE 05/23/24
DTD 05/24/23 FC 05/23/24
CUSIP 90354KBV9
Acquired 05/18/23 S nc 0.37 250,000 100.00 250,000.00 99.6880 249,220.00 -780.00 1,327.40 12,750 5.11 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Fixed Income Securities
Certificates of Deposit continued

ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)

CAPITAL ONE NA CD
MCLEAN VA ACT/365

FDIC INSURED
CPN 2.500% DUE 06/19/24
DTD 06/19/19 FC 12/19/19
CUSIP 14042RLZ2
Acquired 06/18/19 L 0.36 250,000 100.00 250,001.43 97.2100 243,025.00 -6,976.43 205.48 6,250 2.57 100.00 250,007.00

FULTON BANK CD
WILLIAMSPORT PA ACT/365

FDIC INSD
CPN 5.350% DUE 06/24/24
DTD 03/22/23 FC 09/22/23
CUSIP 359899AN1
Acquired 03/14/23 S 0.37 250,000 100.00 250,000.00 99.8790 249,697.50 -302.50 3,701.02 13,375 5.35

COMENITY CAPITAL BANK CD
SALT LAKE CTY UT ACT/365

FDIC INSD
CPN 2.500% DUE 06/27/24
DTD 06/27/19 FC 07/27/19
CUSIP 20033AZ58
Acquired 06/18/19 L 0.18 125,000 100.00 125,000.00 97.1310 121,413.75 -3,586.25 34.25 3,125 2.57

CUSTOMERS BANK CD
WEST READING PA ACT/365

FDIC INSD
CPN 4.700% DUE 08/16/24
DTD 02/16/23 FC 08/16/23
CUSIP 23204HNC8
Acquired 02/09/23 S 0.37 250,000 100.00 250,000.00 99.1550 247,887.50 -2,112.50 4,345.89 11,750 4.74

COMERICA BANK TEXAS CD
DALLAS TX ACT/365

FDIC INSD
CPN 5.250% DUE 09/30/24
DTD 03/30/23 FC 09/30/23
CUSIP 200339FB0
Acquired 03/20/23 S 0.37 250,000 100.00 250,000.00 99.7300 249,325.00 -675.00 3,344.18 13,125 5.26 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Fixed Income Securities
Certificates of Deposit continued

ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)

BANK HAPOALIM BM NY CD
NEW YORK NY ACT/365

FDIC INSD
CPN 5.050% DUE 11/26/24
DTD 05/26/23 FC 11/26/23
CUSIP 06251A5N6
Acquired 05/18/23 S 0.37 250,000 100.00 250,000.00 99.4460 248,615.00 -1,385.00 1,245.21 12,625 5.07

MANUF & TRADERS TR CO CD
BUFFALO NY ACT/365

FDIC INSD
CPN 4.900% DUE 12/09/24
DTD 12/07/22 FC 06/07/23
CUSIP 564759RJ9
Acquired 11/28/22 S 0.37 250,000 100.00 250,000.00 99.2320 248,080.00 -1,920.00 805.48 12,250 4.93

AMERICAN EXPR NATL BK CD
SALT LAKE CTY UT ACT/365

FDIC INSD
CPN 2.050% DUE 03/24/25
DTD 03/23/22 FC 09/23/22
CUSIP 02589ABV3
Acquired 03/17/22 L 0.28 200,000 100.00 200,000.00 94.4480 188,896.00 -11,104.00 1,123.29 4,100 2.17

ALLY BANK CD
BENSALEM PA ACT/365

FDIC INSD
CPN 5.250% DUE 03/24/25
DTD 03/23/23 FC 09/23/23
CUSIP 02007GM34
Acquired 03/14/23 S 0.37 250,000 100.00 250,000.00 99.6840 249,210.00 -790.00 3,595.89 13,125 5.26

WELLS FARGO BANK NA CD
SIOUX FALLS SD ACT/365

FDIC INSD
CPN 4.900% DUE 05/23/25
DTD 05/23/23 FC 06/23/23
CUSIP 949764CT9
Acquired 05/18/23 S 0.37 250,000 100.00 250,000.00 99.0520 247,630.00 -2,370.00 268.49 12,250 4.94 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Fixed Income Securities
Certificates of Deposit continued

ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)

BMO HARRIS BANK NA CD
CHICAGO IL ACT/365

FDIC INSD
CPN 4.850% DUE 05/27/25
DTD 05/24/23 FC 11/24/23
CUSIP 05600XQK9
Acquired 05/18/23 S 0.37 250,000 100.00 250,000.00 98.9590 247,397.50 -2,602.50 1,262.33 12,125 4.90

BMW BK N AMERICA CD
SALT LAKE CTY UT ACT/365

FDIC INSD
CPN 5.100% DUE 09/17/25
DTD 03/17/23 FC 09/17/23
CUSIP 05580AX58
Acquired 03/14/23 S 0.37 250,000 100.00 250,000.00 99.3390 248,347.50 -1,652.50 3,702.74 12,750 5.13

STATE BANK OF INDIA CD
NEW YORK NY ACT/365

FDIC INSD
CPN 4.950% DUE 12/02/25
DTD 12/02/22 FC 06/02/23
CUSIP 856285V81
Acquired 11/28/22 S 0.37 250,000 100.00 250,000.00 98.9570 247,392.50 -2,607.50 983.22 12,375 5.00

COMENITY BANK CD
WILMINGTON DE ACT/365

JUMBO CD FDIC INSURED
CPN 2.000% DUE 03/18/26
DTD 03/18/22 FC 04/18/22
CUSIP 99000QQW7
Acquired 03/15/22 L 0.27 200,000 100.00 200,000.00 92.4985 184,997.00 -15,003.00 142.47 4,000 2.16

SYNCHRONY BANK CD
DRAPER UT ACT/365

FDIC INSD
CPN 5.000% DUE 03/24/26
DTD 03/24/23 FC 09/24/23
CUSIP 87165HX21
Acquired 03/14/23 S 0.37 250,000 100.00 250,000.00 98.9710 247,427.50 -2,572.50 3,390.41 12,500 5.05 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Fixed Income Securities
Certificates of Deposit continued

ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)

TEXAS EXCHANGE BK SSB CD
CROWLEY TX ACT/365

CALLABLE FDIC INSD
CPN 1.100% DUE 10/29/26
DTD 10/29/21 FC 11/29/21
CALL 07/29/23 @ 100.000
CUSIP 88241TMC1
Acquired 10/22/21 L 0.32 250,000 100.00 250,000.00 86.9920 217,480.00 -32,520.00 15.06 2,750 1.26

DISCOVER BANK CD
GREENWOOD DE ACT/365

FDIC INSD
CPN 4.950% DUE 11/16/26
DTD 11/15/22 FC 05/15/23
CUSIP 254673Z66
Acquired 11/09/22 S 0.29 200,000 100.00 200,000.00 98.7090 197,418.00 -2,582.00 1,274.79 9,900 5.01

UBS BANK USA CD
SALT LAKE CTY UT ACT/365

FDIC INSD
CPN 1.150% DUE 12/08/26
DTD 12/08/21 FC 01/08/22
CUSIP 90348JX96
Acquired 11/30/21 L 0.32 250,000 100.00 250,000.00 86.7910 216,977.50 -33,022.50 181.17 2,875 1.32 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Fixed Income Securities
Certificates of Deposit continued

ESTIMATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ACCRUED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INTEREST INCOME YIELD (%)

CELTIC BANK CD
SALT LAKE CTY UT ACT/365

FDIC INSD
CPN 2.000% DUE 12/27/27
DTD 12/27/19 FC 01/27/20
CUSIP 15118RTH0
Acquired 12/09/19 L 0.32 250,000 100.00 250,000.00 86.8520 217,130.00 -32,870.00 54.80 5,000 2.30 Total Certificates of Deposit 15.34 10,525,000 $10,525,001.4 $10,357,533.75 -$167,467.68 $83,766.30 $484,425 4.68 3 $10,525,007.0
0 Total Fixed Income Securities 93.23 $63,581,494.5 $62,962,181.88 -$619,312.62 $301,146.02 $1,230,218 1.95 0 $63,581,500.0
7 nc Cost information for this tax lot is not covered by IRS reporting requirements. Unless indicated, cost for all other lots will be reported to the IRS.

Mutual Funds
If a portion of your fund position was converted, the 'Client Investment' value may include reinvestments from previously held positions.

Open End Mutual Funds
Open End Mutual Fund shares are priced at net asset value. Estimated Annual Income and Yield refer to Dividends and Interest Income only, and typically do not reflect Total return.

EST MATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INCOME YIELD (%)

FIDELITY FUNDS

FIDELITY TREASURY ONLY

PORT INSTL CLASS SHS
FRSXX
On Reinvestment
Acquired 03/17/23 S nc 4,510,522.44000 1.00 4,510,522.44 4,510,522.44 0.00 Reinvestments S nc 39,598.05000 1.00 39,598.05 39,598.05 0.00 Total 6.74 4,550,120.49000 $1.00 $4,550,120.49 1.0000 $4,550,120.49 $0.00 $200,205 4.40 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Mutual Funds
Open End Mutual Funds continued

EST MATED
% OF ADJ PRICE/ ADJ COST/ CURRENT CURRENT UNREALIZED ANNUAL ANNUAL DESCRIPTION ACCOUNT QUANTITY ORIG PRICE ORIG COST PRICE MARKET VALUE GAIN/LOSS INCOME YIELD (%) Client Investment (Excluding Reinvestments) $4,510,522.44 Gain/Loss on Client Investment (Including Reinvestments) $39,598.05 Total Open End Mutual Funds 6.74 $4,550,120.49 $4,550,120.49 $0.00 $200,205 4.40 Total Mutual Funds 6.74 $4,550,120.49 $4,550,120.49 $0.00 $200,205 4.40 nc Cost information for this tax lot is not covered by IRS reporting requirements. Unless indicated, cost for all other lots will be reported to the IRS.

Activity detail
Income and distributions

DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 06/01 Cash DIVIDEND FIDELITY FUNDS 16,606.00

FIDELITY TREASURY ONLY

PORT INSTL CLASS SHS
053123 4,533,514.49000
AS OF 5/31/23
06/02 Cash INTEREST STATE BANK OF INDIA CD 6,170.55
NEW YORK NY ACT/365

FDIC INSD
CPN 4.950% DUE 12/02/25
DTD 12/02/22 FC 06/02/23
060223 250,000
CUSIP 856285V81
06/06 Cash INTEREST MORGAN STANLEY PVT BK CD 4,425.34
PURCHASE NY ACT/365

FDIC INSD
CPN 3.550% DUE 12/06/23
DTD 12/06/18 FC 06/06/19
060623 250,000
CUSIP 61760ASZ3
072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Activity detail continued
Income and distributions

DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 06/07 Cash INTEREST MANUF & TRADERS TR CO CD 6,108.22
BUFFALO NY ACT/365

FDIC INSD
CPN 4.900% DUE 12/09/24
DTD 12/07/22 FC 06/07/23
060723 250,000
CUSIP 564759RJ9
06/08 Cash INTEREST UBS BANK USA CD 244.18
SALT LAKE CTY UT ACT/365

FDIC INSD
CPN 1.150% DUE 12/08/26
DTD 12/08/21 FC 01/08/22
060823 250,000
CUSIP 90348JX96
06/20 Cash INTEREST CAPITAL ONE NA CD 3,116.44
MCLEAN VA ACT/365

FDIC INSURED
CPN 2.500% DUE 06/19/24
DTD 06/19/19 FC 12/19/19
061923 250,000
AS OF 6/19/23
CUSIP 14042RLZ2
06/20 Cash INTEREST NEXBANK SSB CD 3,082.19
DALLAS TX ACT/365

FDIC INSD
CPN 5.000% DUE 06/20/23
DTD 03/22/23 FC 06/20/23
062023 250,000
CUSIP 653344BX8
06/20 Cash INTEREST COMENITY BANK CD 339.73
WILMINGTON DE ACT/365

JUMBO CD FDIC INSURED
CPN 2.000% DUE 03/18/26
DTD 03/18/22 FC 04/18/22
061823 200,000
AS OF 6/18/23
CUSIP 99000QQW7
072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Activity detail continued
Income and distributions

DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 06/22 Cash INTEREST BANK OZK CD 1,061.64
LITTLE ROCK AR ACT/365

FDIC INSD
CPN 5.000% DUE 01/22/24
DTD 05/22/23 FC 06/22/23
062223 250,000
CUSIP 06418CHC3
06/23 Cash INTEREST WELLS FARGO BANK NA CD 1,040.41
SIOUX FALLS SD ACT/365

FDIC INSD
CPN 4.900% DUE 05/23/25
DTD 05/23/23 FC 06/23/23
062323 250,000
CUSIP 949764CT9
06/27 Cash INTEREST CELTIC BANK CD 424.66
SALT LAKE CTY UT ACT/365

FDIC INSD
CPN 2.000% DUE 12/27/27
DTD 12/27/19 FC 01/27/20
062723 250,000
CUSIP 15118RTH0
06/27 Cash INTEREST COMENITY CAPITAL BANK CD 265.41
SALT LAKE CTY UT ACT/365

FDIC INSD
CPN 2.500% DUE 06/27/24
DTD 06/27/19 FC 07/27/19
062723 125,000
CUSIP 20033AZ58
06/29 Cash INTEREST TEXAS EXCHANGE BK SSB CD 233.56
CROWLEY TX ACT/365

CALLABLE FDIC INSD
CPN 1.100% DUE 10/29/26
DTD 10/29/21 FC 11/29/21
062923 250,000
CUSIP 88241TMC1
072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Activity detail continued
Income and distributions

DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 06/30 Cash DIVIDEND ALLSPRING 1,022.14

GOVERNMENT MONEY MARKET

SWEEP CLASS
063023 22,294
Total Income and distributions: $44,140.47
Securities sold and redeemed

DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 06/20 Cash REDEMPTION -4,000,000.00000 US TREASURY 4,000,000.00 BILL
DUE 06/20/23
DTD 02/21/23
CUSIP 912797FP7
06/20 Cash REDEMPTION -250,000.00000 NEXBANK SSB CD 250,000.00 DALLAS TX ACT/365

FDIC INSD
CPN 5.000% DUE 06/20/23
DTD 03/22/23 FC 06/20/23
CUSIP 653344BX8
Total Securities sold and redeemed: $4,250,000.00
Electronic funds transfer

DATE ACCOUNT TYPE TRANSACTION DESCRIPTION AMOUNT
06/29 Cash WIRE TRANSFER INCOMING WIRE 10,000,000.00

CITY OF MALIBU
Total Electronic funds transfer: $10,000,000.00
Securities purchased

DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 06/01 Cash REINVEST DIV 16,606.00000 FIDELITY FUNDS -16,606.00

FIDELITY TREASURY ONLY

PORT INSTL CLASS SHS
REINVEST AT 1.000
06/21 Cash PURCHASE 4,422,000.00000 US TREASURY 98.5394 -4,357,419.53 ACCRUED INT NOTES -42,662.53
CPN 2.750% DUE 02/15/24
DTD 02/15/14 FC 08/15/14
CUSIP 912828B66
072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Activity detail continued
Securities purchased

DATE ACCOUNT TYPE TRANSACTION QUANTITY DESCRIPTION PRICE AMOUNT 06/29 Cash PURCHASE 5,077,000.00000 US TREASURY 98.4935 -5,000,526.21 BILL
DUE 10/17/23
DTD 06/20/23
CUSIP 912797HB6
06/29 Cash PURCHASE 5,076,000.00000 US TREASURY 98.4935 -4,999,541.27 BILL
DUE 10/17/23
DTD 06/20/23
CUSIP 912797HB6
Total Securities purchased: -$14,416,755.54
Cash sweep activity
Our Cash Sweep program allows you to earn a return on the idle cash balances in your account by automatically investing such balances into one of our cash sweep options. These 'sweep transactions' may represent a net amount for the day and occur on settlement date. The following section displays transfers into and out of your sweep option. Transactions displayed here are Transfer To, Transfer From and Reinvested Dividends and Interest. These transaction amounts are not included in your cash flow summary.

DATE TRANSACTION DESCRIPTION AMOUNT DATE TRANSACTION DESCRIPTION AMOUNT 06/01 BEGINNING BALANCE 395,931.99 06/22 TRANSFER FROM ALLSPRING -4,400,082.06

GOVERNMENT MONEY MARKET
06/02 TRANSFER FROM ALLSPRING -250,000.00 06/23 TRANSFER TO ALLSPRING 1,061.64

GOVERNMENT MONEY MARKET GOVERNMENT MONEY MARKET
06/05 TRANSFER TO ALLSPRING 6,170.55 06/26 TRANSFER TO ALLSPRING 1,040.41

GOVERNMENT MONEY MARKET GOVERNMENT MONEY MARKET
06/07 TRANSFER TO ALLSPRING 4,425.34 06/28 TRANSFER TO ALLSPRING 690.07

GOVERNMENT MONEY MARKET GOVERNMENT MONEY MARKET
06/08 TRANSFER TO ALLSPRING 6,108.22 06/30 REINVEST DIV ALLSPRING 1,022.14

GOVERNMENT MONEY MARKET GOVERNMENT MONEY MARKET
06/09 TRANSFER TO ALLSPRING 244.18 06/30 TRANSFER TO ALLSPRING 166.08

GOVERNMENT MONEY MARKET GOVERNMENT MONEY MARKET
06/21 TRANSFER TO ALLSPRING 4,256,538.36 06/30 ENDING BALANCE 23,316.92

GOVERNMENT MONEY MARKET
072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Bank Deposits Through Teller June 1 - June 30
Wells Fargo Bank, N.A. (Member FDIC) Account number 9091092513 Questions? Call us at 1-800-266-6263 Deposits made in a bank branch on the last business day of the month will typically appear on your next statement.

DATE TRANSACTION DESCRIPTION AMOUNT BANK BALANCE
06/01 BEGINNING BALANCE $0.00
06/30 ENDING BALANCE $0.00
Specific instructions and disclosures
Available funds
"Available for loan" reflects the approximate amount available as of the statement period ending date and should be reduced by any pending checks and Visa charges not yet cleared. This amount is the approximate amount available for withdrawal and loans. A margin loan is a variable rate loan secured by your account.

Income on non-reportable accounts
Your income summary is categorized into taxable and tax-exempt income based upon the securities that you hold. Please be aware that, since this is a 1099 non-reportable account, this income will NOT be reported to the IRS, but is being provided to you for informational purposes only.

Callable Securities
Securities that are subject to a partial call will be selected by an impartial lottery process in which the probability of your securities being selected for redemption is proportional to the holdings of all shareholders of such securities held in street name. If a security is called prior to maturity it may affect the yield you receive. Additional information is available at www.wellsfargoadvisors.com under Legal Disclosures or the written procedures are available upon request. 072 ANCA ANC9

CITY OF MALIBU

RUTH QUINTO
JUNE 1, 2023 - JUNE 30, 2023
Cost basis - To add or update information or modify your reporting options, please contact Your Financial Advisor.

This statement presents estimated unrealized or realized gains or losses for your information only. If acquisition or other information is not available, the gain/loss information may not be displayed and section and summary totals may not reflect your complete portfolio. Cost basis information is not verified by WFCS or Wells Fargo Advisors Financial Network and should not be relied upon for legal or tax purposes. Revisions to this information (due to corporate mergers, tenders and other reorganizations) may be required from time to time.

Cost basis for factored bonds (GNMA, CMO, etc.) will be adjusted for paydown of principal. Systematic investments in mutual funds and reinvested dividends for mutual funds and stocks have been consolidated for each position. Unit cost data for systematic investments and dividend reinvestment securities is provided for informational purposes only and is a non-weighted average.

Your account statement should not be used for tax preparation without assistance from your tax consultant. We do not report capital gains or losses for non-covered securities to he IRS.

Cost basis options
Unless specific tax lots are selected at trade time, sales of tax lots will occur using the cost basis election reflected in the Account profile section.

Estimated accrued interest on Fixed Income securities
Estimated accrued interest is included in the Portfolio summary as a convenience to you and represents the estimated portion of he interest that would be received upon the sale of he Fixed Income posi ions in your account, calculated from the date of the last coupon (or dated date) through the date of the account statement, based upon information provided by the issuer. This is not a guarantee that this amount will be realized in your account. Actual income will be based upon the payout schedule of the securities held in your account. If you own a Foreign Fixed Income security, and it is denominated in a foreign currency, the Estimated accrued interest will not be accurate. 072 ANCA ANC9
July 1, 2023
Portfolio Report
Prepared for: City of Malibu
Prepared by: William Gomberg
Managing Partner
Gomberg/McQuilkin Wealth Mangement Group
701 S. Parker Street
Suite 2500
Orange, CA 92868
701 S. Parker Street
Suite 2500
Orange, CA 92868
This report is prepared by your Financial Advisor using software provided by Wells Fargo Advisors. Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC (WFAFN), a registered broker-dealer and nonbank affiliate of Wells Fargo and Company. WFAFN uses the trade name Wells Fargo Advisors. © 2023 Wells Fargo Advisors. All Rights Reserved. Attachment 2 Page 1 of 39 Portfolio Reports City of Malibu
Table Of Contents
Cover Page 1
Accounts Included in the Report 3
Portfolio Summary 4
Portfolio Summary - Security Detail 5
Portfolio Estimated Income 8
Fixed Income Overview 10
Fixed Income Statistics 13
Fixed Income Credit 20
Fixed Income Analytics 21
Ratings Distribution 22
Redemption Distribution 24
Redemption Distribution Rolling 12 Months 26
Duration Distribution 28
Coupon Distribution 30
Understanding Your Portfolio 32
Disclosures 35
07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 2 of 39 Portfolio Reports City of Malibu
Accounts Included in the Report
Account Number Account Name Account Nickname Tax Status Int/Ext Last Updated XXXX7847 CITY OF MALIBU Exempt Internal 6/30/2023
07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 3 of 39 Portfolio Reports City of Malibu
Portfolio Summary
By: Security Sub Type
Bond (93.23%)
Fund (6.74%)
Cash Alternative (0.03%)
Total
$ %
Bond 62,962,182 93.2%
CITY OF MALIBU (XXXX7847) 62,962,182 93.2%
Fund 4,550,120 6.7%
CITY OF MALIBU (XXXX7847) 4,550,120 6.7%
Cash Alternative 23,317 0.0%
CITY OF MALIBU (XXXX7847) 23,317 0.0%
Portfolio Summary Total 67,535,619 100.0%
Total Portfolio Value as of 06/30/23:__$ 67,535,619
This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 4 of 39 Portfolio Reports City of Malibu
Portfolio Summary - Security Detail
By: Security Sub Type
Bond (93.23%)
Fund (6.74%)
Cash Alternative (0.03%)
Total
ID Description Quantity Price $ %
Bond 62,962,182 93.2%
CITY OF MALIBU (XXXX7847) 62,962,182 93.2%
02007GM34 ALLY BANK 5.25% 032425 250,000 99.68 249,210 0.4% 02589ABV3 AMERICAN 2.05% 032425 200,000 94.45 188,896 0.3% 02589AET5 AMERICAN E 5.1% 052324 50,000 99.69 49,844 0.1% 045491NU7 ASSOCIATE 5.15% 052124 250,000 99.73 249,335 0.4% 05961SQX5 BANC CALIF NA 5.1%112723 250,000 99.91 249,768 0.4% 06251A5N6 BANK HAPO 5.05% 112624 250,000 99.45 248,615 0.4% 062683HE0 BANK HOPE 5.25% 122623 250,000 99.94 249,848 0.4% 06051VT89 BANK OF A 5.15% 052324 250,000 99.73 249,330 0.4% 06428FH26 BANK OF C 5.15% 112423 250,000 99.93 249,820 0.4% 06418CHC3 BANK OZK 5% 012224 250,000 99.83 249,565 0.4% 06740KRN9 BARCLAYS B 5.4% 032124 250,000 99.98 249,950 0.4% 07371DRD1 BEAL BANK 4.75% 022124 250,000 99.57 248,935 0.4% 05600XQK9 BMO HARRI 4.85% 052725 250,000 98.96 247,398 0.4% 05580AX58 BMW BK N A 5.1% 091725 250,000 99.34 248,348 0.4% 10421AAB3 BRADESCO B 5.2% 030424 250,000 99.89 249,735 0.4% 14042RLZ2 CAPITAL ONE 2.5% 061924 250,000 97.21 243,025 0.4% 15118RTH0 CELTIC BANK 2% 122727 250,000 86.85 217,130 0.3% 15987UAU2 CHARLES S 5.35% 032224 250,000 99.78 249,450 0.4% 75524KQH0 CITIZENS B 5.3% 032124 250,000 99.91 249,778 0.4% 99000QQW7 COMENITY BANK 2% 031826 200,000 92.50 184,997 0.3% 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 5 of 39 Portfolio Reports City of Malibu
Total
ID Description Quantity Price $ %
20033AZ58 COMENITY C 2.5% 062724 125,000 97.13 121,414 0.2% 200339FB0 COMERICA 5.25% 093024 250,000 99.73 249,325 0.4% 23204HNC8 CUSTOMERS 4.7% 081624 250,000 99.16 247,888 0.4% 254673Z66 DISCOVER 4.95% 111626 200,000 98.71 197,418 0.3% 337158AV1 FIRST HOR 5.15% 112423 250,000 99.93 249,820 0.4% 359899AN1 FULTON BA 5.35% 062424 250,000 99.88 249,698 0.4% 38150VHQ5 GOLDMAN SACH 5% 052224 250,000 99.60 249,010 0.4% 41024LBS7 HANCOCK W 5.25% 022624 250,000 99.93 249,818 0.4% 564759RJ9 MANUF & TR 4.9% 120924 250,000 99.23 248,080 0.4% 60685BQB0 MIZRAHI T 5.15% 113023 250,000 99.93 249,818 0.4% 60700PB26 MIZUHO BK 5.0% 112423 250,000 99.87 249,673 0.4% 61760ASZ3 MORGAN ST 3.55% 120623 250,000 99.24 248,098 0.4% 67523TCE1 OCEANFIRS 5.15% 032124 250,000 99.81 249,515 0.4% 759701BH7 RENASANT B 5.3% 032124 250,000 99.91 249,778 0.4% 80280JVQ1 SANTANDER 5.25% 031524 250,000 99.88 249,695 0.4% 856285V81 STATE BAN 4.95% 120225 250,000 98.96 247,393 0.4% 87165HX21 SYNCHRONY BA 5% 032426 250,000 98.97 247,428 0.4% 88241TMC1 TEXAS EXC 1.10% 102926 250,000 86.99 217,480 0.3% 898401DA9 TRUSTMARK BK 5.15%112723 250,000 99.93 249,820 0.4% 90348JX96 UBS BANK 1.15% 120826 250,000 86.79 216,978 0.3% 90354KBV9 US BANK NA 5.1% 052324 250,000 99.69 249,220 0.4% 912796XY0 UST BILL 0.0 081023 5,117,000 99.46 5,089,266 7.5% 912797HB6 UST BILL 0.0 101723 10,153,000 98.47 9,997,151 14.8% 91282CFK2 UST NTS 3.5 091525 4,000,000 97.30 3,891,840 5.8% 91282CDA6 UST NTS .25% 093023 4,000,000 98.78 3,951,360 5.9% 91282CCW9 UST NTS .75% 083126 4,000,000 89.19 3,567,480 5.3% 91282CEF4 UST NTS 2.5% 033127 4,000,000 93.71 3,748,560 5.6% 91282CEK3 UST NTS 2.5% 043024 1,000,000 97.61 976,130 1.4% 91282CCX7 UST NTS .375% 091524 4,000,000 94.25 3,770,120 5.6% 912828B66 UST NTS 2.75% 021524 4,422,000 98.36 4,349,435 6.4% 91282CED9 UST NTS 1.75% 031525 4,000,000 94.59 3,783,720 5.6% 912828W71 UST NTS 2.125% 033124 4,000,000 97.61 3,904,360 5.8% 9128286L9 UST NTS 2.25% 033126 4,000,000 94.10 3,763,880 5.6% 91282CFH9 UST NTS 3.125% 083127 1,894,000 95.64 1,811,346 2.7% 919853HV6 VALLEY NA 5.15% 091823 250,000 99.95 249,878 0.4% 947547US2 WEBBANK 5.25% 031924 250,000 99.88 249,690 0.4% 949764CT9 WELLS FARG 4.9% 052325 250,000 99.05 247,630 0.4% Fund 4,550,120 6.7%
CITY OF MALIBU (XXXX7847) 4,550,120 6.7%
FRSXX FIDELITY TREAS INSTL 4,550,120 1.00 4,550,120 6.7% Cash Alternative 23,317 0.0%
07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 6 of 39 Portfolio Reports City of Malibu
Total
ID Description Quantity Price $ %
CITY OF MALIBU (XXXX7847) 23,317 0.0%
- Cash Alternative 23,317 1.00 23,317 0.0%
Portfolio Summary Total 67,535,619 100.0%
Total Portfolio Value as of 06/30/23:__$ 67,535,619
This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 7 of 39 Portfolio Reports City of Malibu
Portfolio Estimated Income
By: Account Tax Status,Tax Type,Security Sub Type
Based on current income rates
0 55,000
110,000
165,000
220,000
275,000
330,000
385,000
440,000
Est Income($)
Jul
2023
Aug
2023
Sep
2023
Oct
2023
Nov
2023
Dec
2023
Jan
2024
Feb
2024
Mar
2024
Apr
2024
May
2024
Jun
2024
Month
Tax Exempt Accounts Unassigned
Sec
Jul 2023 Aug 2023 Sep 2023 Oct 2023 Nov 2023 Dec 2023 Jan 2024 Feb 2024 Mar 2024 Apr 2024 May 2024 Jun 2024 Estimated
Income
Annualzd($)
Tax Exempt
Accounts 58 20,177 131,516 323,334 32,677 76,523 50,068 20,293 152,340 399,088 31,732 89,945 34,712 1,362,405 Taxable 45 20,177 26,120 68,334 20,177 76,523 50,068 20,293 46,944 149,088 19,232 89,945 34,712 621,612 Corporate
Bond 44 3,493 9,436 51,650 3,493 59,839 33,384 3,610 30,260 132,405 2,548 73,261 18,028 421,407 Money Market
Fund 1 16,684 16,684 16,684 16,684 16,684 16,684 16,684 16,684 16,684 16,684 16,684 16,684 200,205 Federal 13 105,396 255,000 12,500 105,396 250,000 12,500 740,793 Government
Bond 13 105,396 255,000 12,500 105,396 250,000 12,500 740,793 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 8 of 39 Portfolio Reports City of Malibu
Sec
Jul 2023 Aug 2023 Sep 2023 Oct 2023 Nov 2023 Dec 2023 Jan 2024 Feb 2024 Mar 2024 Apr 2024 May 2024 Jun 2024 Estimated
Income
Annualzd($)
Unassigned 1 0
Not Available 1 0
Cash
Alternative 1 0
Portfolio
Estimated Income
Total
59 20,177 131,516 323,334 32,677 76,523 50,068 20,293 152,340 399,088 31,732 89,945 34,712 1,362,405 Total Portfolio Value as of 06/30/23:__$ 67,535,619
This report is not a substitute for official tax reporting. This report separates the holdings, first based on the taxability at the account level. The secondary aggregation is Tax Type which is used to aggregate securities based on their assumed taxability of income (interest and dividends) at the time of this report. Classifications are made by data sources we deem reliable; however, we do not guarantee the accuracy of these classifications. Most securities are subject to capital gains taxes and some may be considered in calculations for Alternative Minimum Tax (AMT) that are not so designated here. This report does not attempt to portray phantom income (income accreted or accrued but not paid) on discount or zero coupon securities. You should consult with your tax advisor regarding the taxability of your holdings.

The following tax type classifications may be included in this report: AMT - subject to Alternative Minimum Tax; Dividend - taxable as dividend income; Federal - income taxable by federal government (state and local income taxes may not apply); Non-Federal - income non-taxable by federal government but may be subject to state and local taxes; Taxable - income taxable by federal, state and local taxes; and Not Available - taxability undetermined.

Estimated Income Annualized (EIA) takes your current income, based on the current dividends or interest paid by your securities and multiplies it to create an annualized hypothetical figure. It does not reflect actual or future performance and should not be relied upon when making financial decisions. All annualizations are based upon current positions using a simple mathematical calculation and assumes all figures remain constant for a year; any subsequent position changes will affect these calculations. Calculations for certain types of securities could include a return of principal or capital gain, in which case the figures would be overstated. Past performance is not a guarantee of future results. Dividend payments are made solely at the discretion of the issuer and are subject to be changed or eliminated at any time. Estimated Income is an estimate and the actual income might be lower or higher than the estimated amount. Estimated Income reflects only the income generated by an investment. It does not reflect changes in price, which may fluctuate.

This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 9 of 39 Portfolio Reports City of Malibu
Fixed Income Overview
Security Sub Type Composite Ratings Estimated Income Annualized Security Sub Type Market Value($) % Fxd Inc
Government Bond 37,518,231 78.4%
Corporate Bond 10,357,534 21.6%
Security Sub Type Total 47,875,765 100.0%
Composite Ratings % Fxd Inc
Treasury 78.4%
CDs 21.6%
Agency
AAA
AA
A
BBB
Below Inv Grade
N/A
Total 100.0%
Month Estimated Income Annualized($)
Jul 2023 3,493
Aug 2023 114,833
Sep 2023 306,650
Oct 2023 15,993
Nov 2023 59,839
Dec 2023 33,384
Jan 2024 3,610
Feb 2024 135,656
Mar 2024 382,405
Apr 2024 15,048
May 2024 73,261
Jun 2024 18,028
Total 1,162,199
Taxable 1,162,199
Tax Exempt
Subject to AMT
Bond Statistics
Statistic Taxable Tax Exempt
Coupon 2.498%
Yield to Worst 4.79%
Yield at Purchase 3.94%
Total Duration: 1.7
The asset classification of Corporate Bonds includes holdings of Certificates of Deposit. Funds include open end mutual funds, exchange-traded funds, closed end funds. For specific ratings for each security, please refer to either Fixed Income Statistics or Fixed Income Credit reports.

CDs are subject to insurance limits through FDIC. Please see Understanding Your Portfolio for information on specific limits to FDIC insurance.

Estimated Income Annualized (EIA) takes your current income, based on the current dividends or interest paid by your securities and multiplies it to create an annualized hypothetical figure. It does not reflect actual or future performance and should not be relied upon when making financial decisions. All annualizations are based upon current positions using a simple mathematical calculation and assumes all figures remain constant for a year; any subsequent position changes will affect these calculations. Calculations for certain types of securities could include a return of principal or capital gain, in which case the figures would be overstated. Past performance is not a guarantee of future results. Dividend payments are made solely at the discretion of the issuer and are subject to be changed or eliminated at any time. Estimated Income is an estimate and the actual income might be lower or higher than the estimated amount. Estimated Income reflects only the income generated by an investment. It does not reflect changes in price, which may fluctuate.

Composite Ratings and Bond Statistics sections do not include bond funds. Bond Statistics are weighted averages based on market value of bonds in the portfolio. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 10 of 39 Portfolio Reports City of Malibu
This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 11 of 39 Portfolio Reports City of Malibu
Fixed Income Overview - continued
Bond Term vs. Duration
0 10
20 30
40 50
60 70
80 90
100
% of Bonds
Short
0 to <5
Intermediate
5 to <10
Long
10+
N/A
Bond Duration
Bond Term vs. Duration
Total Portfolio Value as of 06/30/23 : $ 67,535,619 Callable Analysis Bond term indicates years to redemption date as defined in the Understanding Your Portfolio section. Mortgage-backed securities (MBSs) include asset-backed securities (ABSs), passthroughs and collateralized mortgage obligations (CMOs). For MBSs, the full market value is displayed at the average life of each security, when available. Duration indicates calculated option adjusted duration. 'Bonds' include preferred stocks.

In the Callable Analysis chart, MBS includes all prepaying securities. Callable value applies next call price and date to the remaining principal. Call premiums may decline subsequent to the initial call date. Extraordinary call features may exist that are not represented in this report.

Bond Term vs. Duration and Callable Analysis sections do not include bond funds.

Callable Value($) Market Value($)
MBS
0 to <1 yrs 250,000 217,480
1 to <2 yrs
2 to <3 yrs
3 to <4 yrs
4 to <5 yrs
5 to <7 yrs
7+ yrs
Not Available
Non-Callable 47,658,285
Total 250,000 47,875,765
07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 12 of 39 Portfolio Reports City of Malibu
Fixed Income Statistics
By: Asset Class Sub Type,Security Type Detail
Subtotals and totals are weighted averages based on market value Qty / Face Description Moody's Coupon Redemption Mkt Price Mkt Value($) Yld Price Duration Dur Cont Rem Prin Detail S&P Cpn Type Next Call Adj Price Gain/Loss($) YTW Convexity % Fxd Inc Factor ID Enhance Call Price Orig Price Purch Yld YTM % Port U.S. Taxable Investment Grade Fixed
Income 2.498% 47,875,765 1.7 1.7
-704,919 4.79% 0.1 76.0%

3.94% 4.79% 70.9%
Treasury Note 1.906% 37,518,231 1.9 1.5
-537,451 4.65% 0.1 59.6%

3.72% 4.65% 55.6%
-
4,000,000 US TREASURY AAA 0.250% 09/30/23 M 98.78 3,951,360 98.32 0.3 0.0 NOTES Fixed 97.94 33,683 5.43%M 0.0 6.3%
91282CDA6 97.94 4.14% 5.43% 5.9%
4,422,000 US TREASURY AAA 2.750% 02/15/24 M 98.36 4,349,435 98.23 0.7 0.1 NOTES Fixed 98.54 -7,985 5.33%M 0.0 6.9%
912828B66 98.54 5.33% 6.4%
4,000,000 US TREASURY AAA 2.125% 03/31/24 M 97.61 3,904,360 97.46 0.8 0.1 NOTES Fixed 98.15 -21,768 5.28%M 0.0 6.2%
912828W71 98.15 3.95% 5.28% 5.8%
1,000,000 US TREASURY AAA 2.500% 04/30/24 M 97.61 976,130 97.54 0.9 0.0 NOTES Fixed 97.93 -3,199 5.29%M 0.0 1.6%
91282CEK3 97.93 4.75% 5.29% 1.4%
4,000,000 US TREASURY AAA 0.375% 09/15/24 M 94.25 3,770,120 94.38 1.3 0.1 NOTES Fixed 95.07 -32,700 4.93%M 0.0 6.0%
91282CCX7 95.07 3.79% 4.93% 5.6%
4,000,000 US TREASURY AAA 1.750% 03/15/25 M 94.59 3,783,720 95.20 1.7 0.1 NOTES Fixed 96.35 -70,475 4.58%M 0.0 6.0%
91282CED9 96.35 3.66% 4.58% 5.6%
4,000,000 US TREASURY AAA 3.500% 09/15/25 M 97.30 3,891,840 98.33 2.2 0.2 NOTES Fixed 99.85 -102,292 4.27%M 0.1 6.2%
91282CFK2 99.85 3.56% 4.27% 5.8%
4,000,000 US TREASURY AAA 2.250% 03/31/26 M 94.10 3,763,880 95.19 2.7 0.2 NOTES Fixed 96.38 -91,502 4.07%M 0.1 6.0%
9128286L9 96.38 3.51% 4.07% 5.6%
4,000,000 US TREASURY AAA 0.750% 08/31/26 M 89.19 3,567,480 90.16 3.1 0.2 NOTES Fixed 91.08 -75,527 4.01%M 0.1 5.7%
91282CCW9 91.08 3.52% 4.01% 5.3%
07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 13 of 39 Portfolio Reports City of Malibu
Qty / Face Description Moody's Coupon Redemption Mkt Price Mkt Value($) Yld Price Duration Dur Cont Rem Prin Detail S&P Cpn Type Next Call Adj Price Gain/Loss($) YTW Convexity % Fxd Inc Factor ID Enhance Call Price Orig Price Purch Yld YTM % Port 4,000,000 US TREASURY AAA 2.500% 03/31/27 M 93.71 3,748,560 94.98 3.6 0.3 NOTES Fixed 96.45 -109,572 3.92%M 0.2 6.0%
91282CEF4 96.45 3.45% 3.92% 5.6%
1,894,000 US TREASURY AAA 3.125% 08/31/27 M 95.64 1,811,346 97.07 3.9 0.1 NOTES Fixed 98.60 -56,116 3.88%M 0.2 2.9%
91282CFH9 98.60 3.47% 3.88% 2.7%
Certificates of Deposit 4.641% 10,357,534 1.3 0.3
-167,468 5.30% 0.0 16.5%

4.64% 5.30% 15.3%
-
250,000 VALLEY NATL BK WAYNE
CD 5.150% 09/18/23 M 99.95 249,878 99.94 0.3 0.0
WAYNE NJ ACT/365 Fixed 100.00 -123 5.31%M 0.0 0.4%
919853HV6 FDIC 100.00 5.15% 5.31% 0.4%
250,000 BANK OF CHINA/NEW YOR
CD 5.150% 11/24/23 M 99.93 249,820 99.93 0.5 0.0
NEW YORK NY ACT/365 Fixed 100.00 -180 5.30%M 0.0 0.4%
06428FH26 FDIC 100.00 5.15% 5.30% 0.4%
250,000 FIRST HORIZON BANK CD 5.150% 11/24/23 M 99.93 249,820 99.93 0.5 0.0 MEMPHIS TN ACT/365 Fixed 100.00 -180 5.30%M 0.0 0.4%
337158AV1 FDIC 100.00 5.15% 5.30% 0.4%
250,000 MIZUHO BANK USA CD 5.000% 11/24/23 M 99.87 249,673 99.85 0.5 0.0 NEW YORK NY ACT/365 Fixed 100.00 -328 5.31%M 0.0 0.4%
60700PB26 FDIC 100.00 5.00% 5.31% 0.4%
250,000 BANC CALIF NA CD 5.100% 11/27/23 M 99.91 249,768 99.90 0.5 0.0 IRVINE CA ACT/365 Fixed 100.00 -233 5.31%M 0.0 0.4%
05961SQX5 FDIC 100.00 5.10% 5.31% 0.4%
250,000 TRUSTMARK NATL BK CD 5.150% 11/27/23 M 99.93 249,820 99.93 0.5 0.0 JACKSON MISS ACT/365 Fixed 100.00 -180 5.30%M 0.0 0.4%
898401DA9 FDIC 100.00 5.15% 5.30% 0.4%
250,000 MIZRAHI TEFAHOT BANK/
CD 5.150% 11/30/23 M 99.93 249,818 99.93 0.5 0.0
LOS ANGELES CA ACT/365 Fixed 100.00 -183 5.30%M 0.0 0.4% 60685BQB0 FDIC 100.00 5.15% 5.30% 0.4%
250,000 MORGAN STANLEY PVT BK
CD 3.550% 12/06/23 M 99.24 248,098 99.12 0.5 0.0
PURCHASE NY ACT/365 Fixed 100.00 -1,903 5.32%M 0.0 0.4% 61760ASZ3 FDIC 100.00 3.55% 5.32% 0.4%
250,000 BANK HOPE CD 5.250% 12/26/23 M 99.94 249,848 99.94 0.6 0.0 LOS ANGELES CA ACT/365 Fixed 100.00 -153 5.30%M 0.0 0.4% 062683HE0 FDIC 100.00 5.25% 5.30% 0.4%
07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 14 of 39 Portfolio Reports City of Malibu
Qty / Face Description Moody's Coupon Redemption Mkt Price Mkt Value($) Yld Price Duration Dur Cont Rem Prin Detail S&P Cpn Type Next Call Adj Price Gain/Loss($) YTW Convexity % Fxd Inc Factor ID Enhance Call Price Orig Price Purch Yld YTM % Port 250,000 BANK OZK CD 5.000% 01/22/24 M 99.83 249,565 99.81 0.6 0.0 LITTLE ROCK AR ACT/365 Fixed 100.00 -435 5.30%M 0.0 0.4% 06418CHC3 FDIC 100.00 5.00% 5.30% 0.4%
250,000 BEAL BANK USA CD 4.750% 02/21/24 M 99.57 248,935 99.56 0.7 0.0 LAS VEGAS NV ACT/365 Fixed 100.00 -1,065 5.31%M 0.0 0.4% 07371DRD1 FDIC 100.00 4.75% 5.31% 0.4%
250,000 HANCOCK WHITNEY BANK
CD 5.250% 02/26/24 M 99.93 249,818 99.96 0.7 0.0
GULFPORT MS ACT/365 Fixed 100.00 -183 5.30%M 0.0 0.4%
41024LBS7 FDIC 100.00 5.25% 5.30% 0.4%
250,000 BRADESCO BANK CD 5.200% 03/04/24 M 99.89 249,735 100.03 0.7 0.0 CORAL GABLES FL ACT/365 Fixed 100.00 -265 5.16%M 0.0 0.4% 10421AAB3 FDIC 100.00 5.20% 5.16% 0.4%
250,000 SANTANDER BANK NA CD 5.250% 03/15/24 M 99.88 249,695 99.90 0.8 0.0 WILMINGTON DE ACT/365 Fixed 100.00 -305 5.32%M 0.0 0.4% 80280JVQ1 FDIC 100.00 5.25% 5.32% 0.4%
250,000 WEBBANK CD 5.250% 03/19/24 M 99.88 249,690 99.90 0.8 0.0 SALT LAKE CITY UTACT/365 Fixed 100.00 -310 5.33%M 0.0 0.4% 947547US2 FDIC 100.00 5.25% 5.33% 0.4%
250,000 BARCLAYS BANK/DELAWAR
CD 5.400% 03/21/24 M 99.98 249,950 100.01 0.8 0.0
WILMINGTON DE ACT/365 Fixed 100.00 -50 5.33%M 0.0 0.4%
06740KRN9 FDIC 100.00 5.40% 5.33% 0.4%
250,000 CITIZENS BANK NA/RI CD 5.300% 03/21/24 M 99.91 249,778 99.94 0.8 0.0 PROVIDENCE RI ACT/365 Fixed 100.00 -223 5.33%M 0.0 0.4% 75524KQH0 FDIC 100.00 5.30% 5.33% 0.4%
250,000 OCEANFIRST BANK NA CD 5.150% 03/21/24 M 99.81 249,515 99.82 0.8 0.0 TOMS RIVER NJ ACT/365 Fixed 100.00 -485 5.33%M 0.0 0.4% 67523TCE1 FDIC 100.00 5.15% 5.33% 0.4%
250,000 RENASANT BK TUPELO MS
CD 5.300% 03/21/24 M 99.91 249,778 99.94 0.8 0.0
TUPELO MS ACT/365 Fixed 100.00 -223 5.33%M 0.0 0.4%
759701BH7 FDIC 100.00 5.30% 5.33% 0.4%
250,000 CHARLES SCHWAB BK SSB
CD 5.350% 03/22/24 M 99.78 249,450 99.77 0.8 0.0
RENO NV ACT/365 Fixed 100.00 -550 5.62%M 0.0 0.4%
15987UAU2 FDIC 100.00 5.35% 5.62% 0.4%
250,000 ASSOCIATED BK GREEN B
CD 5.150% 05/21/24 M 99.73 249,335 99.77 0.9 0.0
STEVENS POINT WI ACT/365 Fixed 100.00 -665 5.39%M 0.0 0.4% 045491NU7 FDIC 100.00 5.15% 5.39% 0.4%
07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 15 of 39 Portfolio Reports City of Malibu
Qty / Face Description Moody's Coupon Redemption Mkt Price Mkt Value($) Yld Price Duration Dur Cont Rem Prin Detail S&P Cpn Type Next Call Adj Price Gain/Loss($) YTW Convexity % Fxd Inc Factor ID Enhance Call Price Orig Price Purch Yld YTM % Port 250,000 GOLDMAN SACHS BK USA
CD 5.000% 05/22/24 M 99.60 249,010 99.63 0.9 0.0
NEW YORK NY ACT/365 Fixed 100.00 -990 5.40%M 0.0 0.4%
38150VHQ5 FDIC 100.00 5.00% 5.40% 0.4%
50,000 AMERICAN EXPR NATL BK
CD 5.100% 05/23/24 M 99.69 49,844 99.72 0.9 0.0
SALT LAKE CTY UT ACT/365 Fixed 100.00 -156 5.40%M 0.0 0.1% 02589AET5 FDIC 100.00 5.10% 5.40% 0.1%
250,000 BANK OF AMERICA NA CD 5.150% 05/23/24 M 99.73 249,330 99.77 0.9 0.0 CHARLOTTE NC ACT/365 Fixed 100.00 -670 5.40%M 0.0 0.4%
06051VT89 FDIC 100.00 5.15% 5.40% 0.4%
250,000 US BANK NATL ASSOC CD 5.100% 05/23/24 M 99.69 249,220 99.72 0.9 0.0 MINNEAPOLIS MN ACT/365 Fixed 100.00 -780 5.40%M 0.0 0.4% 90354KBV9 FDIC 100.00 5.10% 5.40% 0.4%
250,000 CAPITAL ONE NA CD 2.500% 06/19/24 M 97.21 243,025 97.08 1.0 0.0 MCLEAN VA ACT/365 Fixed 100.00 -6,976 5.40%M 0.0 0.4%
14042RLZ2 FDIC 100.00 2.50% 5.40% 0.4%
250,000 FULTON BANK CD 5.350% 06/24/24 M 99.88 249,698 99.96 1.0 0.0 WILLIAMSPORT PA ACT/365 Fixed 100.00 -303 5.38%M 0.0 0.4% 359899AN1 FDIC 100.00 5.35% 5.38% 0.4%
125,000 COMENITY CAPITAL BANK
CD 2.500% 06/27/24 M 97.13 121,414 96.99 1.1 0.0
SALT LAKE CTY UT ACT/365 Fixed 100.00 -3,586 5.40%M 0.0 0.2% 20033AZ58 FDIC 100.00 2.50% 5.40% 0.2%
250,000 CUSTOMERS BANK CD 4.700% 08/16/24 M 99.16 247,888 99.21 1.1 0.0 WEST READING PA ACT/365 Fixed 100.00 -2,113 5.37%M 0.0 0.4% 23204HNC8 FDIC 100.00 4.70% 5.37% 0.4%
250,000 COMERICA BANK TEXAS CD 5.250% 09/30/24 M 99.73 249,325 99.86 1.3 0.0 DALLAS TX ACT/365 Fixed 100.00 -675 5.35%M 0.0 0.4%
200339FB0 FDIC 100.00 5.25% 5.35% 0.4%
250,000 BANK HAPOALIM BM NY CD 5.050% 11/26/24 M 99.45 248,615 99.60 1.4 0.0 NEW YORK NY ACT/365 Fixed 100.00 -1,385 5.33%M 0.0 0.4% 06251A5N6 FDIC 100.00 5.05% 5.33% 0.4%
250,000 MANUF & TRADERS TR CO
CD 4.900% 12/09/24 M 99.23 248,080 99.38 1.4 0.0
BUFFALO NY ACT/365 Fixed 100.00 -1,920 5.33%M 0.0 0.4%
564759RJ9 FDIC 100.00 4.90% 5.33% 0.4%
250,000 ALLY BANK CD 5.250% 03/24/25 M 99.68 249,210 99.93 1.7 0.0 BENSALEM PA ACT/365 Fixed 100.00 -790 5.28%M 0.0 0.4%
02007GM34 FDIC 100.00 5.25% 5.28% 0.4%
07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 16 of 39 Portfolio Reports City of Malibu
Qty / Face Description Moody's Coupon Redemption Mkt Price Mkt Value($) Yld Price Duration Dur Cont Rem Prin Detail S&P Cpn Type Next Call Adj Price Gain/Loss($) YTW Convexity % Fxd Inc Factor ID Enhance Call Price Orig Price Purch Yld YTM % Port 200,000 AMERICAN EXPR NATL BK
CD 2.050% 03/24/25 M 94.45 188,896 94.44 1.7 0.0
SALT LAKE CTY UT ACT/365 Fixed 100.00 -11,104 5.30%M 0.0 0.3% 02589ABV3 FDIC 100.00 2.05% 5.30% 0.3%
250,000 WELLS FARGO BANK NA CD 4.900% 05/23/25 M 99.05 247,630 99.32 1.9 0.0 SIOUX FALLS SD ACT/365 Fixed 100.00 -2,370 5.26%M 0.0 0.4% 949764CT9 FDIC 100.00 4.90% 5.26% 0.4%
250,000 BMO HARRIS BANK NA CD 4.850% 05/27/25 M 98.96 247,398 99.23 1.9 0.0 CHICAGO IL ACT/365 Fixed 100.00 -2,603 5.26%M 0.0 0.4%
05600XQK9 FDIC 100.00 4.85% 5.26% 0.4%
250,000 BMW BK N AMERICA CD 5.100% 09/17/25 M 99.34 248,348 99.72 2.1 0.0 SALT LAKE CTY UT ACT/365 Fixed 100.00 -1,653 5.22%M 0.1 0.4% 05580AX58 FDIC 100.00 5.10% 5.22% 0.4%
250,000 STATE BANK OF INDIA CD 4.950% 12/02/25 M 98.96 247,393 99.41 2.3 0.0 NEW YORK NY ACT/365 Fixed 100.00 -2,608 5.21%M 0.1 0.4% 856285V81 FDIC 100.00 4.95% 5.21% 0.4%
200,000 COMENITY BANK CD 2.000% 03/18/26 M 92.50 184,997 92.31 2.8 0.0 WILMINGTON DE ACT/365 N/A 100.00 -15,003 4.87%M 0.1 0.3% 99000QQW7 FDIC 100.00 2.00% 4.87% 0.3%
250,000 SYNCHRONY BANK CD 5.000% 03/24/26 M 98.97 247,428 99.55 2.6 0.0 DRAPER UT ACT/365 Fixed 100.00 -2,573 5.17%M 0.1 0.4%
87165HX21 FDIC 100.00 5.00% 5.17% 0.4%
250,000 TEXAS EXCHANGE BK SSB
CD 1.100% 10/29/26 M 86.99 217,480 87.41 3.3 0.0
CROWLEY TX ACT/365 Fixed 07/29/23 P 100.00 -32,520 5.13%M 0.1 0.3% 88241TMC1 FDIC 100.00 100.00 1.10% 5.13% 0.3%
200,000 DISCOVER BANK CD 4.950% 11/16/26 M 98.71 197,418 99.44 3.1 0.0 GREENWOOD DE ACT/365 Fixed 100.00 -2,582 5.13%M 0.1 0.3% 254673Z66 FDIC 100.00 4.95% 5.13% 0.3%
250,000 UBS BANK USA CD 1.150% 12/08/26 M 86.79 216,978 87.22 3.4 0.0 SALT LAKE CTY UT ACT/365 Fixed 100.00 -33,023 5.13%M 0.1 0.3% 90348JX96 FDIC 100.00 1.15% 5.13% 0.3%
250,000 CELTIC BANK CD 2.000% 12/27/27 M 86.85 217,130 87.37 4.3 0.0 SALT LAKE CTY UT ACT/365 Fixed 100.00 -32,870 5.10%M 0.2 0.3% 15118RTH0 FDIC 100.00 2.00% 5.10% 0.3%
Cash Alternatives 0.000% 15,086,417 0.2 0.1
85,606 5.26% 0.0 24.0%

5.26% 22.3%
07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 17 of 39 Portfolio Reports City of Malibu
Qty / Face Description Moody's Coupon Redemption Mkt Price Mkt Value($) Yld Price Duration Dur Cont Rem Prin Detail S&P Cpn Type Next Call Adj Price Gain/Loss($) YTW Convexity % Fxd Inc Factor ID Enhance Call Price Orig Price Purch Yld YTM % Port Treasury Bill 0.000% 15,086,417 0.2 0.1
85,606 5.26% 0.0 24.0%

5.26% 22.3%
-
5,117,000 US TREASURY 0.000% 08/10/23 M 99.46 5,089,266 99.00 0.2 0.0 BILL N/A 97.73 88,522 5.26%M 0.0 8.1%
912796XY0 97.73 5.26% 7.5%
5,077,000 US TREASURY 0.000% 10/17/23 M 98.47 4,999,068 BILL N/A 98.49 -1,458 7.9%
912797HB6 98.49 7.4%
5,076,000 US TREASURY 0.000% 10/17/23 M 98.47 4,998,083 BILL N/A 98.49 -1,458 7.9%
912797HB6 98.49 7.4%
Fixed Income Statistics Total 1.899% 62,962,182 1.6 2.1 -619,313 4.83% 0.0 100.0%

3.94% 4.83% 93.2%
Total Portfolio Value as of 06/30/23:__$ 67,535,619
Yield Price as of 05/31/23
Rem Prin - Remaining Principal is the amount of principal which, as of a given date, has not yet been paid on a fixed income security (original face value multiplied by the factor).

Factor represents the portion of principal remaining on a security subject to principal prepayments (such as a mortgage-backed security). A factor of .87654321 on an original face of $100,000 would indicate that $87,654.32 in principal remained.

Enhance - Indicates that there is a form of credit enhancement such as collateralization or bond insurance which may vary in credit quality. The ratings displayed are the higher of the credit rating of the bond insurer or of the underlying credit of the issuer. Acronyms indicate insurance or type of collateral. See Understanding Your Portfolio section for more details.

CDs are subject to insurance limits through FDIC. Please see Understanding Your Portfolio for information on specific limits to FDIC insurance.

The coupon rate is the interest rate stated on a bond, note or other fixed income security, expressed as a percentage of the principal. Adjustable rate coupon securities will be shown at the current coupon rate if known; actual coupon rates may vary. There is no assurance that coupons will be paid. Past Performance is not a guarantee of future results. Range Notes will carry a coupon of 0%.

Coupon Types: Adj (Adjustable rate), Fixed (Fixed rate), Step (Step up or down), Struct (Structured Product Securities), Zero (Zero Coupon), PIK (Payment-in-kind) Redemption is the date the security is scheduled to be redeemed. Types: M - maturity, R - refunded, T - mandatory tender/put, P - perpetual (displays date of report plus sixty years), D - Dutch auction or optional tender, A - estimated average life of prepaying securities.

Next call is the next date, prior to maturity, on which a callable security may be redeemed by the issuer. Call Price is the price, specified at issuance, at which a bond or preferred stock can be redeemed.

Call Types: C - Optional Premium Call, P - Optional Par Call.

Adjusted Price is the original price adjusted for accretion for a discount and amortization for a premium.

Purchase Yield is the yield to worst based on original price and purchase date. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 18 of 39 Portfolio Reports City of Malibu
Yield Price is the recent market price which is used to calculate yields, duration, convexity, etc. The date of the yield price is displayed beneath the table.

YTW - Yield to Worst indicates the lowest of yields to calls or the yield to maturity, calculated at yield price and not at current market price. The Yield Code next to YTW indicates the date/price to which the yield has been calculated. Codes: C = next call, P = par call, W = middle call, R = pre-refunding, M = maturity of issue, A = estimated average life on principal paydown securities, T = next mandatory put/tender, F = called in full.

YTM (Yield to Maturity) is calculated to the redemption date based on the yield price and not on current market price.

Duration - Duration, where available, is Modified Duration. It is used to provide a measurement of price volatility. For example, a duration of 4 means that a shift in prevailing rates 100 basis points (1%) in a 1 year period should shift the price in the opposite direction by 4%. Duration will not be calculated on Structured Products or other securities for which required data is not available. Modified Duration, unlike Effective Duration, assumes cash flows do not change and does not take into account embedded call options.

Convexity - Convexity measures the speed with which the duration will change with movements in interest rates. For example, on a bond with negative convexity, the duration will shorten with falling interest rates which will reduce the impact of duration of this security on the portfolio. Convexity is reflected at both the security level and at the subtotal level for fixed income classification calculated as a weighted average.

Duration Contribution - The duration contribution is the impact of this bond's duration on the fixed income portion of the portfolio. Example, if bond has a duration of 3 and its market value is 5% of the fixed income, the duration contribution will be 0.15 (3 x .05).

This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 19 of 39 Portfolio Reports City of Malibu
Fixed Income Credit
By: Rating Type,Composite Rating
Subtotals and totals are weighted averages based on market value Securities Weighted Avg Cpn Market Value($) Percent of
Fxd Inc Port
Investment Grade 57 1.899% 62,962,182 100.0% 93.2%
Treasuries 13 1.360% 52,604,648 83.5% 77.9%
CDs 44 4.641% 10,357,534 16.5% 15.3%
Fixed Income Credit Total 57 1.899% 62,962,182 100.0% 93.2% Total Portfolio Value as of 06/30/23:__$ 67,535,619
CDs are subject to insurance limits through FDIC. Please see Understanding Your Portfolio for information on specific limits to FDIC insurance.

The coupon rate is the interest rate stated on a bond, note or other fixed income security, expressed as a percentage of the principal. Adjustable rate coupon securities will be shown at the current coupon rate if known; actual coupon rates may vary. There is no assurance that coupons will be paid. Past Performance is not a guarantee of future results. Range Notes will carry a coupon of 0%.

This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 20 of 39 Portfolio Reports City of Malibu
Fixed Income Analytics
By: Security Type Detail
Subtotals and totals are weighted averages based on market value Securities Weighted Avg Cpn YTW YTM Dur Conv Dur Cont Percent of Fxd Inc Port
Treasury Bill 2 0.000% 5.26% 5.26% 0.2 0.0 0.1 24.0% 22.3% Market Value: $ 15,086,417
Treasury Note 11 1.906% 4.65% 4.65% 1.9 0.1 1.5 59.6% 55.6% Market Value: $ 37,518,231
Certificates of Deposit 44 4.641% 5.30% 5.30% 1.3 0.0 0.3 16.5% 15.3% Market Value: $ 10,357,534
Fixed Income Analytics Total 57 1.899% 4.83% 4.83% 1.6 0.0 2.1 100.0% 93.2% Market Value: $ 62,962,182
Total Portfolio Value as of 06/30/23:__$ 67,535,619
Yield Price as of 05/31/23
The coupon rate is the interest rate stated on a bond, note or other fixed income security, expressed as a percentage of the principal. Variable rate coupon securities will be shown at the current coupon rate if known; actual coupon rates may vary. There is no assurance that coupons will be paid. Past Performance is not a guarantee of future results. Range Notes will carry a coupon of 0%.

Yields, duration, and convexity are reflected at both the subtotal and total levels for fixed income classifications calculated as a weighted average.

YTW - Yield to Worst indicates the lowest of yields to calls or the yield to maturity, calculated at yield price and not at current market price.

YTM (Yield to Maturity) is yield calculated to the redemption date based on the yield price and not on current market price.

Dur - Duration, where available, is Modified Duration. It is used to provide a measurement of price volatility. For example, a duration of 4 means that a shift in prevailing rates 100 basis points (1%) in a 1 year period should shift the price in the opposite direction by 4%. Duration will not be calculated on Structured Products or other securities for which required data is not available. Modified Duration, unlike Effective Duration, assumes cash flows do not change and does not take into account embedded call options.

Conv - Convexity - Convexity measures the speed with which the duration will change with movements in interest rates. For example, on a bond with negative convexity, the duration will shorten with falling interest rates which will reduce the impact of duration of this security on the portfolio. Convexity is reflected at both the security level and at the subtotal level for fixed income classification calculated as a weighted average.

Dur Cont - Duration Contribution - The duration contribution is the impact of this bond's duration on the fixed income portion of the portfolio. Example, if bond has a duration of 3 and its market value is 5% of the fixed income, the duration contribution will be 0.15 (3 x .05).

Yield Price is the recent market price which is used to calculate yields, duration, convexity, etc. The date of this price is noted below the table.

This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 21 of 39 Portfolio Reports City of Malibu
Ratings Distribution
By: Composite Rating,Security Sub Type
Coupon subtotals and totals are weighted averages based on market value 0 10,000
20,000
30,000
40,000
Market Value ($)
(000s)
Treasuries
CDs
AgenciesAAA
AA
A
BBB
BB
B
CCC
CCC
DUnratedNot Available
Government Bond Corporate Bond
Composite Rating Market Value($) Weighted Avg Cpn Weighted Avg Cpn Remaining
Treasuries 52,604,648 1.360% 4.641%
Government Bond 52,604,648 1.360% 4.641%
CDs 10,357,534 4.641% 1.360%
Corporate Bond 10,357,534 4.641% 1.360%
Ratings Distribution Total 62,962,182 1.899% 0.000%
Composite Ratings: Treasuries, Agencies, AAA, AA, A, BBB, BB, B, CCC, CC, C, D, Unrated and Not Available.

Treasuries are direct U.S. Government securities. Agencies include U.S. Government backed agencies and U.S. Government sponsored entities. Agency securities that are below AAA credit quality will be displayed based on their credit rating. Should the ratings services differ, the Composite Rating will identify the bond in the lower of the two ratings. AAA Composite Ratings are securities rated AAA by one or both services without the credit enhancement of insurance.

The asset classification of Corporate Bonds includes holdings of Certificates of Deposit. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 22 of 39 Portfolio Reports City of Malibu
The coupon rate is the interest rate stated on a bond, note or other fixed income security, expressed as a percentage of the principal. Adjustable rate coupon securities will be shown at the current coupon rate if known; actual coupon rates may vary. There is no assurance that coupons will be paid. Past Performance is not a guarantee of future results. Range Notes will carry a coupon of 0%.

This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 23 of 39 Portfolio Reports City of Malibu
Redemption Distribution
By: Redemption Date
Coupon subtotals and totals are weighted averages based on redemption value 0 4,000
8,000
12,000
16,000
20,000
24,000
Redem
ption Value($)
(000s)
2023
20242025
202620272028202920302031
20322033
2034
2035
2036
2037
2038
2039
2040
204120422043+Perpetual
Year Redemption Value($) Weighted Avg Cpn Weighted Avg Cpn Remaining
2023 21,520,000 0.565% 2.543%
2024 18,847,000 2.736% 1.545%
2025 9,450,000 2.928% 1.713%
2026 9,150,000 1.662% 1.927%
2027 6,144,000 2.672% 1.808%
Redemption Distribution Total 65,111,000 1.889% 0.000%
07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 24 of 39 Portfolio Reports City of Malibu
Mortgage Backed
Securities
Redemption Value (Remaining Principal):__$ 0
Securities with Undefined Redemption Value
Market Value:__$ 0
This report shows the schedule of principal payments of securities calculated as of the date of the report. Payments are not guaranteed. Unforeseen events could occur which could cause the estimated principal payments to differ from stated values. Bonds in default will not display a redemption value. The redemption value applies the redemption price to the remaining principal or the number of shares.

These schedules assume that bonds are not called. Call features may be exercised as stated elsewhere at any time. On Treasury Inflation Index securities (TIPs), we have applied the most recent Index Ratio to the redemption price. Actual redemption value will not be less than the face amount on TIPs if held to maturity. 100% Principal protected structured products (when held to maturity) will be displayed at their face amount as the redemption value.

Mortgage Backed Securities (MBSs) are not represented in this report as it is not possible to accurately predict principal prepayments.

Securities with Undefined Redemption Value, such as mandatory convertible securities and structured products (other than those with 100% principal protection), do not have a defined redemption value and are not represented in the bar charts. The market value of these securities is displayed beneath the table. These securities will display N/A as the redemption value in the year of their scheduled redemption.

This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 25 of 39 Portfolio Reports City of Malibu
Redemption Distribution Rolling 12 Months
By: Security Sub Type
Redemption Values are stated in thousands
0 1,455,000
2,910,000
4,365,000
5,820,000
7,275,000
8,730,000
10,185,000
Est Income($)
Jul
2023
Aug
2023
Sep
2023
Oct
2023
Nov
2023
Dec
2023
Jan
2024
Feb
2024
Mar
2024
Apr
2024
May
2024
Jun
2024
Month
Government Bond Corporate Bond
___Jul
2023
___Aug
2023
___Sep
2023
___Oct
2023
___Nov
2023
___Dec
2023
___Jan
2024
___Feb
2024
___Mar
2024
___Apr
2024
___May
2024
___Jun
2024
Total
Prin($)
Government Bond 5,117 4,000 10,153 4,422 4,000 1,000 28,692 Corporate Bond 250 1,500 500 250 500 2,000 1,050 625 6,675 Redemption Distribution
Rolling 12 Months Total 5,117 4,250 10,153 1,500 500 250 4,922 6,000 1,000 1,050 625 35,367 Current Market Value of Securities with Undefined Redemption Value:__$ 0 Total Portfolio Value as of 06/30/23:__$ 67,535,619
This report shows the schedule of principal payments of securities calculated as of the date of the report. Payments are not guaranteed. Unforeseen events could occur which could cause the estimated principal payments to differ from stated values. Bonds in default will not display a redemption value. The redemption value applies the redemption price to the remaining principal or the number of shares.

These schedules assume that bonds are not called. Call features may be exercised as stated elsewhere at any time. On Treasury Inflation Index securities (TIPs), we have applied the most recent Index 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 26 of 39 Portfolio Reports City of Malibu
Ratio to the redemption price. Actual redemption value will not be less than the face amount on TIPs if held to maturity. 100% Principal protected structured products (when held to maturity) will be displayed at their face amount as the redemption value.

The asset classification of Corporate Bonds includes holdings of Certificates of Deposit.

Mortgage Backed Securities (MBSs) are not represented in this report as it is not possible to accurately predict principal prepayments.

Securities with Undefined Redemption Value, such as mandatory convertible securities and structured products (other than those with 100% principal protection), do not have a defined redemption value and are not represented in the table. The market value of these securities that have a redemption date within the next 12 months is displayed beneath the table.

This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 27 of 39 Portfolio Reports City of Malibu
Duration Distribution
By: Duration,Security Sub Type
Duration subtotals and totals are weighted averages based on market value 0 5,000
10,000
15,000
20,000
25,000
Market Value ($)
(000s)
<1 1 2 3 4 5 6 7 8 9 10+ N/A
Government Bond Corporate Bond
Duration Market Value($) Weighted Avg
Duration
Weighted Avg
Duration Remaining
< 1 to 1 24,309,737 0.5 1.8
Government Bond 18,270,551 0.5 1.7
Corporate Bond 6,039,187 0.7 1.4
1 to < 2 10,095,017 1.5 1.3
Government Bond 7,553,840 1.5 1.3
Corporate Bond 2,541,177 1.4 1.3
2 to < 3 8,583,885 2.4 1.2
Government Bond 7,655,720 2.4 1.2
Corporate Bond 928,165 2.4 1.3
07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 28 of 39 Portfolio Reports City of Malibu
Duration Market Value($) Weighted Avg
Duration
Weighted Avg
Duration Remaining
3 to < 4 9,759,261 3.5 0.9
Government Bond 9,127,386 3.5 1.0
Corporate Bond 631,876 3.3 1.3
4 to < 5 217,130 4.3 1.3
Corporate Bond 217,130 4.3 1.3
N/A 9,997,151
Government Bond 9,997,151
Duration Distribution Total 62,962,182 1.6 0.0
On the x -axis: <1 contains duration values less than 1; 1 contains duration values greater than or equal to 1 and less than 2; 2 contains duration values greater than or equal to 2 and less than 3, etc. 10+ contains duration values greater than or equal to ten.

The asset classification of Corporate Bonds includes holdings of Certificates of Deposit.

Duration - Duration, where available, is Modified Duration. It is used to provide a measurement of price volatility. For example, a duration of 4 means that a shift in prevailing rates 100 basis points (1%) in a 1 year period should shift the price in the opposite direction by 4%. Duration will not be calculated on Structured Products or other securities for which required data is not available. Modified Duration, unlike Effective Duration, assumes cash flows do not change and does not take into account embedded call options.

Weighted Average Duration: Duration is reflected at both the security level and at the subtotal and total levels. At the subtotal and total levels, weighted average duration has been calculated based on the market value of the securities within that grouping.

Weighted Average Duration Remaining is the weighted average duration remaining of the portfolio excluding the security.

The duration distribution will allow you to analyze which securities impact your portfolio for a given range of duration. For example, if you wish to shorten your duration to lessen interest rate risk (i.e. you expect rates to rise), look to the higher duration securities as possible candidates for swapping into shorter duration securities. Conversely, should you wish to increase your portfolio's sensitivity to interest rates (i.e. you expect rates to fall), look to swap shorter duration securities into longer duration securities.

This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 29 of 39 Portfolio Reports City of Malibu
Coupon Distribution
By: Coupon,Coupon Type
Coupon subtotals and totals are weighted averages based on market value 0 3,000
6,000
9,000
12,000
15,000
18,000
Market Value ($)
(000s)
0 1 2 3 4 5 6 7 8+ N/A
Fixed Coupon Not Available
Coupon Market Value($) Weighted Avg Cpn Weighted Avg Cpn Remaining
0 to < 1 11,288,960 0.450% 2.216%
Fixed Coupon 11,288,960 0.450% 2.216%
1 to < 2 4,218,178 1.686% 1.915%
Fixed Coupon 4,218,178 1.686% 1.915%
2 to < 3 17,697,827 2.409% 1.700%
Fixed Coupon 17,512,830 2.414% 1.701%
Not Available 184,997 2.000% 1.899%
3 to < 4 5,951,283 3.388% 1.744%
Fixed Coupon 5,951,283 3.388% 1.744%
07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 30 of 39 Portfolio Reports City of Malibu
Coupon Market Value($) Weighted Avg Cpn Weighted Avg Cpn Remaining
4 to < 5 1,684,741 4.854% 1.818%
Fixed Coupon 1,684,741 4.854% 1.818%
5 to < 6 7,034,777 5.176% 1.487%
Fixed Coupon 7,034,777 5.176% 1.487%
N/A 15,086,417 0.000% 2.498%
Not Available 15,086,417 0.000% 2.498%
Coupon Distribution Total 62,962,182 1.899% 0.000%
On the X-axis, 0% coupon includes all bonds with current coupons of less than 1%; 1% coupon includes bonds with coupons of less than 2% but equal to or greater than 1%, etc.

The coupon rate is the interest rate stated on a bond, note or other fixed income security, expressed as a percentage of the principal. Adjustable rate coupon securities will be shown at the current coupon rate if known; actual coupon rates may vary. There is no assurance that coupons will be paid. Past Performance is not a guarantee of future results. Range Notes will carry a coupon of 0%.

This report is not complete without the Understanding Your Portfolio report which contains important terms and definitions. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 31 of 39 Portfolio Reports City of Malibu
Understanding Your Portfolio
General Information
Investing involves risk, including the possible loss of principal. This report is intended to provide you with a descriptive overview of your current portfolio. The report may encompass one account or multiple accounts as specified in the report. The material has been prepared or is distributed solely for information purposes and does not supersede the proper use of your Wells Fargo Advisors client statements and/or trade confirmations, which are considered to be the official and accurate records of your account activity. Any market prices are only indications of market values, are subject to change, and may not reflect the value at which the securities could be sold. Reported prices should not be considered actual bids. For these reports, in certain groupings, Corporate Bonds includes Certificates of Deposit. Additionally, the report is prepared as of trade date, rather than settlement date, and may be prepared on a different date than your statement. The information contained in this report may not reflect all holdings or transactions, their costs, or proceeds in your account.

The report may also include information you provided about assets held at other firms. Information on assets held away from Wells Fargo Advisors was provided by you and may not be covered by SIPC. We have relied solely on information from you regarding those assets. We do not verify or confirm those assets held with other firms or affiliates and you are responsible for notifying your Financial Advisor of any changes in your externally held investments including cost basis.

Incomplete or inaccurate cost basis will affect your plan results because the tax assumptions are incorrect. Due to timing issues, if this report includes assets held at a Trust Company, positions and market data should be verified. Before making any decisions please validate your account information with your Financial Advisor. The financial data used to generate this report is provided to Wells Fargo Advisors by third party vendors. While this information is believed to be reliable, it has not been verified. Security ID will be ticker symbol, CUSIP number, Security Number or, if you have provided us with a market value of a generic asset classification type, we will assign a dash.

This report is not complete unless all pages noted are included. For more detailed information, including current pricing, call your Financial Advisor.

To the extent that this report includes fixed income securities, you should be aware that the descriptions of fixed income securities are general in nature and do not reflect important information that you should consider, such as but not limited to, yield, call features, credit quality, and various tax implications. Before making any decisions regarding fixed income investments, contact your advisor to obtain more detailed information regarding specific fixed income securities.

Asset classification of holdings in external accounts where classification is not readily available may be assigned to a multi-asset class category or reassigned into additional asset classes by your Financial Advisor which may not be the most accurate asset class based on the holding's characteristics and risk profile. It is your responsibility to review the asset classification for external accounts and notify us of any changes.

Asset Classes for mutual funds, variable annuities and exchange-traded funds are derived from Morningstar Categories. Underlying holdings classification provided by Morningstar. ©2023 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

External Accounts Included in Your Report
As a service, we may have included your assets and/or your liabilities held at other financial institutions. We assume no responsibility for the accuracy or completeness of the information you provided either to your Financial Advisor or through any third party aggregation service regarding your assets or liabilities held at other firms. We may update the pricing of these securities; however, there may be cases when updating prices is not possible. In addition, any transactions, values or changes in your external accounts will not be reflected unless you provide updated information to your Financial Advisor. In instances where you use a third party aggregation service, we rely on you to take action when notified by the third party service that updates are needed. The accuracy and completeness of the information you provide may materially affect the results and any recommendations contained in this report.

If we have included or if you have provided us with information on accounts managed by you or an affiliate of Wells Fargo Advisors, including self-directed WellsTrade accounts at Wells Fargo Advisors, and fiduciary accounts at Wells Fargo Bank, N.A., you should understand that Wells Fargo Advisors has no authority to manage, direct or influence the accounts. With respect to such accounts, the Strategic Allocation listed in this report is for informational purposes only and should not be considered a recommendation from Wells Fargo Advisors or your Financial Advisor. The views, opinions, asset allocation models and forecasts may differ from our affiliates.

By providing you this report, neither the firm nor your Financial Advisor is acting as a fiduciary for purposes of ERISA or section 4975 of the Code with respect to any external ERISA-covered employee benefit plan or any external individual retirement account in either the planning, execution or provision of this analysis, unless separately contracted to act as a fiduciary with respect to such an account. Any asset allocation information presented in this report for external 401(k), 403(b), Government 457(b), Defined Benefit Plan, Trustee Defined Profit Sharing Plan or individual retirement accounts is for general asset allocation education and informational purposes only and should not be viewed as fiduciary investment advice.

All yields, durations and convexities are calculated at the "Yield Price" listed on the report. The date of the yield price is stated under the report table. The calculations are updated approximately once per month. Should there be significant changes in interest rates we will update the calculations more frequently. By comparing the yield price to the market price you can see how the market has changed since the calculations. For example, if the market price is greater than the yield price then currently calculated yields would be lower.

Weighted average coupon: At the subtotal and total levels, the weighted average coupon has been calculated based on the market value of the securities within that grouping.

Redemption date indicated is either maturity date (M), pre-refunded date (R), mandatory put or tender date (T), Dutch auction date or optional tender date (D), display date on perpetual securities (sixty years from report date) (P) or the date which would represent the average life of the maturity when measured from the date of this report (A). Because perpetual securities do not have a stated maturity date, we assign a date of sixty years from the date of the report to enable us to provide approximate yields and durations.

Yield to worst is the lowest of all yields to calls or the yield to maturity. Yield to maturity is the yield that would be realized on a fixed income security if it were held to the maturity date. Yield at purchase is calculated based on the purchase date and price of each position (if available) and represents the yield to worst at the time of purchase. At the subtotal and total levels, yields are weighted averages for that grouping. Duration, if available, is option adjusted duration and is used to provide a measurement of price volatility.
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Enhancements used for this analysis may include Bond Insurance, Federal Deposit Insurance Corporation (FDIC) and escrowed collateral on refunded bonds (typically in US Government securities). The terms of enhancements vary and assumptions cannot be made as to specific issuers or issues. This report is not meant to indicate that "non-enhanced" securities are of lesser credit quality than those with secondary credit enhancement. Insurance pertains to the timely payment of principal and interest by the issuer of the underlying securities and not the price of the bond, which will fluctuate prior to maturity.

Types of enhancements include but are not limited to:

Pre-ref - Indicates that the security has been pre-refunded, is collateralized (typically in US Government Securities) and is scheduled to be redeemed at the stated redemption date.

ETM - Indicates that the security has been escrowed to maturity (collateralized, typically in U.S.

Government securities).

FDIC - Federal Deposit Insurance Corporation
MBIA - Municipal Bond Insurance Association
FGIC - Financial Guaranty Insurance Company
AMBAC - American Municipal Bond Assurance Corporation
FSA - Financial Security Assurance, Inc.

Assured Gty. - Assured Guaranty Corp.

BHAC - Berkshire Hathaway Assurance
CIFG - CIFG Assurance North America, Inc.

AGM(f.FSA) - Assured Guaranty Municipal Corp.

AGC - Assured Guaranty Corp.

NATL-RE(f.MBIA) - National Public Finance Guaranty Corp. (MBIA's public finance subsidiary) Syncora(f.XLCA) - Syncora Guarantee (Formerly XL Capital Assurance).

PSF - Permanent School Fund.

MAC - Municipal Assurance Corp.

BAM - Build America Mutual Assurance Corp.

Q-SBLF - Qualified School Bond Loan Fund.

RADIAN - Radian Group Inc.

ACA - ACA Financial Guaranty Corp.

FHA - Federal Housing Administration.

FHLMC - Federal Home Loan Mortgage Corp.

FNMA - Federal National Mortgage Association.

GNMA - Government National Mortgage Association.

SECT8 - Section 8.

Rating Types: Government/Agencies, Investment Grade, High Yield, Distressed Debt, Defaulted, Not Available, Not Applicable.

Composite Ratings: Treasuries, Agencies, AAA, AA, A, BBB, BB, B, CCC, CC, C, D, and Unrated.

A measure of the quality and safety of a bond, based on the issuer's financial condition. More specifically, an evaluation from a rating service indicating the likelihood that a debt issuer will be able to meet scheduled interest and principal repayments.

AAA Maximum Safety; AA High Grade High Quality; A Upper Medium Grade; BBB Lower Medium Grade; BB Speculative; B Highly Speculative; CCC Substantial Risk; CC Extremely Speculative; C May be in Default; D Default.

Composite Ratings are based on Moody's and Standard & Poor's and reflect the lower of the two rating services if such ratings differ.

Asset Class Descriptions
The asset class descriptions below are included solely to provide insight into how individual securities are tied to specific asset classes. We use our best efforts to correctly classify investments. However, no warranty of accuracy is made.

Equity Investments: Equity investments refer to buying stocks of United States companies.

The investment return to the owner of stock (shareholder) is in the form of dividends and/or capital appreciation. The market capitalization of companies is used to group large, medium (Mid), and small companies. Shareholders share in both the upside potential and the downside risk.

Capitalization: Market capitalization definitions differ but one example of capitalization methodology is that of Morningstar, which defines "large-capitalization" stocks as those stocks that form the top 70% of the market capitalization of the stocks eligible to be included in the Morningstar US Market Index (a diversified broad market index that represents approximately 97% of the market capitalization of publicly traded U.S. Stocks). The Morningstar index methodology defines "mid-capitalization" stocks as those stocks that form the 20% of market capitalization between the 70th and 90th percentile of the market capitalization and "small-capitalization" stocks as those stocks that form the 7% of market capitalization between the 90th and 97th percentile of the market capitalization of the stocks eligible to be included in the Morningstar US Market Index.

Investing in small and mid-cap companies involve additional risks such as limited liquidity and greater volatility.

Fixed Income Securities (Bonds): Bonds are promissory notes of a United States corporation or federal government entity (taxable bonds) or a state or local government entity (taxexempt or municipal bonds). Bonds usually make a series of interest payments followed by a return of principal at maturity. If sold prior to maturity, the price that can be obtained for a bond may be more or less than face value, depending on interest rates at the time the bond is sold and the remaining term of the bond.

Fixed income securities include Treasuries (i.e., public obligations of the U.S. Treasury that have remaining maturities of more than one year), government-related issues (i.e., agency, sovereign, supranational, and local authority debt), and corporate bonds.

Investments in fixed-income securities are subject to market, interest rate, credit/default, inflation and other risks. Bond prices fluctuate inversely to changes in interest rates. Therefore, a general rise in interest rates can result in the decline in the bond's price. Lower rated securities are speculative and involve greater risk of default.

Term: Short-term bonds have effective maturities of five years or less, intermediate bonds have effective maturities between five and ten years; and long-term bonds have maturities of ten years or longer.

Income from tax exempt bonds is generally free from federal and state taxes for residents of the issuing state. While the interest income is tax-free, capital gains if any are subject to taxes. Income of certain tax-exempt bonds may be subject to the Federal Alternative Minimum Tax (AMT).

Real Assets:Real Assets includes Public Real Estate, Private Real Estate and Commodities.

Public Real Estate represents investments that offer participation in rental income from properties and appreciation in property sale. Private Real Estate is an investment that uses an active management strategy consisting of both direct and secondary ownership of equity and debt interests in various types of real property. Commodities are usually agricultural products such as 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 33 of 39 Portfolio Reports City of Malibu
corn, livestock, coffee and cocoa or metals such as gold, copper and silver, or energy products such as oil and natural gas. Commodities can either be sold on the spot market for immediate delivery or on the commodities exchanges for later delivery. Trade on commodities exchanges is usually in the form of future contracts.

There are special risks associated with an investment in real estate, including possible illiquidity of the underlying properties, credit risk, interest rate fluctuations and the impact of varied economic conditions. Privately offered real estate funds are speculative and involve a high degree of risk.

Investments in real estate have special risks, including the possible illiquidity of the underlying properties, credit risk, interest rate fluctuations, and the impact of varied economic conditions.

There can be no assurance a secondary market will exist and there may be restrictions on transferring interests. The commodities markets are considered speculative, carry substantial risks, and have experienced periods of extreme volatility.

Cash Alternatives: Cash Alternatives include liquid, short term and interest bearing investments. Examples are Treasury bills and commercial paper. It is possible to lose money by investing in cash alternatives.

CAR-0422-08350
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Disclosures
Asset Class Descriptions
The asset class descriptions below are included solely to provide insight into how individual securities are tied to specific asset classes. We use our best efforts to correctly classify investments. However, no warranty of accuracy is made.

Equity Investments: Equity investments refer to buying stocks of United States companies.

The investment return to the owner of stock (shareholder) is in the form of dividends and/or capital appreciation. The market capitalization of companies is used to group large, medium (Mid), and small companies. Shareholders share in both the upside potential and the downside risk.

Fixed Income Securities (Bonds): Bonds are promissory notes of a United States corporation or federal government entity (taxable bonds) or a state or local government entity (tax-exempt or municipal bonds). Bonds usually make a series of interest payments followed by a return of principal at maturity. If sold prior to maturity, the price that can be obtained for a bond may be more or less than face value, depending on interest rates at the time the bond is sold and the remaining term of the bond.

Fixed income securities include Treasuries (i.e., public obligations of the U.S. Treasury that have remaining maturities of more than one year), government-related issues (i.e., agency, sovereign, supranational, and local authority debt), and corporate bonds.

Investments in fixed-income securities are subject to market, interest rate, credit/default, inflation and other risks. Bond prices fluctuate inversely to changes in interest rates. Therefore, a general rise in interest rates can result in the decline in the bond's price. Lower rated securities are speculative and involve greater risk of default.

Real Assets:Real Assets includes Public Real Estate, Private Real Estate and Commodities.

Public Real Estate represents investments that offer participation in rental income from properties and appreciation in property sale. Private Real Estate is an investment that uses an active management strategy consisting of both direct and secondary ownership of equity and debt interests in various types of real property. Commodities are usually agricultural products such as corn, livestock, coffee and cocoa or metals such as gold, copper and silver, or energy products such as oil and natural gas. Commodities can either be sold on the spot market for immediate delivery or on the commodities exchanges for later delivery. Trade on commodities exchanges is usually in the form of future contracts.

There are special risks associated with an investment in real estate, including possible illiquidity of the underlying properties, credit risk, interest rate fluctuations and the impact of varied economic conditions. Privately offered real estate funds are speculative and involve a high degree of risk.

Investments in real estate have special risks, including the possible illiquidity of the underlying properties, credit risk, interest rate fluctuations, and the impact of varied economic conditions.

There can be no assurance a secondary market will exist and there may be restrictions on transferring interests. The commodities markets are considered speculative, carry substantial risks, and have experienced periods of extreme volatility.

Multi-Class: This category is primarily used to classify investments that include a substantial amount of both equity and fixed income investments, or some other combination of classes.

Alternative Investments:Alternative Investments encompass a range of product structures to provide the investor with access to markets or investment strategies that are generally not easily accessible by individuals or smaller institutional investors. These often involve potentially higher risk strategies, such as employing leverage and / or short sales.

Alternative investments, such as hedge funds, are speculative and involve a high degree of risk that is suitable only for those investors who have the financial sophistication and expertise to evaluate the merits and risks of an investment in a fund. Short sales theoretically involve unlimited loss potential since the market price of securities sold short may continuously increase. Leverage can magnify gains and losses.

Cash Alternatives: Cash Alternatives include liquid, short term and interest bearing investments. Examples are Treasury bills and commercial paper. It is possible to lose money by investing in cash alternatives.

Other: This classification represents securities which could not be definitively classified because there is insufficient similarity between the security and the defined asset classes. There may be inconsistencies in one or more of the following factors: historical performance, investment objective or asset composition. This analysis assigns relatively high downside risk and relatively low returns to assets classified as 'Other' in order to conservatively assess their impact on the portfolio.

Specialty: Classifications of Specialty Equities, Specialty Fixed Income, Specialty Real Assets, and Specialty Alternative Investments include securities in the highest level asset class that do not map into one of the detailed asset categories and those securities for which there is not enough data available to classify more precisely.

Annuities:

Annuities are long-term investments and may be subject to market fluctuations and investment risk. Many annuities offer guarantees that provide protection of an income stream or an account value. All guarantees are subject to the claims paying ability of the issuing insurance companies.

Annuity features and benefits vary and all annuity modeling in Envision is based on a set of general product assumptions. For specific details about how your annuity works, consult your annuity policy. Annuity assumptions are based on general product features and benefit modeling assumptions. The actual features and values of your specific contract may vary, and are determined by the contract terms and the underwriting insurance carrier. For the specific details of your features and benefits, please refer to your contract. Any annuity income amounts displayed on this report may not represent the actual amount available under your rider. Please contact the insurance company for specific income amounts available under your policy.

RMD:

Required Minimum Distributions (RMDs) are provided by a source that is deemed to be reliable.

Assets that are held are not included in the RMD calculation. Please note that these calculations are hypothetical and do not replace actual required minimum distribution calculations which should be made each year on an individualized basis.

Investment Interest/Dividends:

The Current Year view takes your current income, based on the current dividends or interest paid by your securities and multiplies it to create an annualized hypothetical figure. It does not reflect actual or future performance and should not be relied upon when making financial decisions.

All annualizations are based upon current positions using a simple mathematical calculation and assumes all figures remain constant for a year; any subsequent position changes will affect these calculations. Calculations for certain types of securities could include a return of principal or capital gain, in which case the figures would be overstated. Past performance is not a guarantee of future results. Dividend payments are made solely at the discretion of the issuer and are subject to be changed or eliminated at any time. Estimated Income is an estimate and the actual income might be lower or higher than the estimated amount. Estimated Income reflects only the income generated by an investment. It does not reflect changes in price, which may fluctuate. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 35 of 39 Portfolio Reports City of Malibu
Yield assumptions do not apply to Envision and are reflected only in the Income Dashboard.

Adjustments to default yields are permitted within an allowable range and may have been adjusted by your Financial Advisor.

General Information
Most securities are subject to capital gains taxes and some may be considered in calculations for Alternative Minimum Tax (AMT) that are not so designated here. This report does not attempt to portray phantom income (income accreted or accrued but not paid) on discount or zero coupon securities. You should consult with your tax advisor regarding the taxability of your holdings.

The report may also include information you provided about assets held at other firms. Information on assets held away from Wells Fargo Advisors was provided by you and may not be covered by SIPC. We have relied solely on information from you regarding those assets. We do not verify or confirm those assets held with other firms or affiliates and you are responsible for notifying your Financial Advisor of any changes in your externally held investments including cost basis.

Incomplete or inaccurate cost basis will affect your plan results because the tax assumptions are incorrect. Due to timing issues, if this report includes assets held at a Trust Company, positions and market data should be verified. Before making any decisions please validate your account information with your Financial Advisor. The financial data used to generate this report is provided to Wells Fargo Advisors by third party vendors. While this information is believed to be reliable, it has not been verified. Security ID will be ticker symbol, CUSIP number, Security Number or, if you have provided us with a market value of a generic asset classification type, we will assign a dash.

The Retirement Spending, Other Goals and Income Sources are based off of your Envision Plan.

However, your FA may have chosen to exclude certain cash flows for the purpose of this report.

Taxes
The tax assumptions are based on US federal and state tax rates. Inflation assumptions are based on historical and expected US inflation assumptions. Therefore, results for non-US residents may not be accurate as the actual tax and inflation rates for countries outside of the US may vary significantly from these assumptions. This report does not account for any currency fluctuations which may affect the relative value of cash flows outside of the United States. These currency fluctuations could significantly impact one's ability to meet financial goals.This report is not a substitute for official tax reporting.

The estimated taxes due calculations follow general US federal tax laws. Estimated taxes are calculated for ordinary income, qualified investment income, as well as gains or losses based off the Income Gap calculated value. The taxes are calculated after deductions (including state taxes) and exemptions are applied to the taxable income. The Income Gap calculated value is the amount of investment principal needed to meet the remainder of the Total Spending Goal after all income is spent.

This report is not a substitute for your own records and the year-end 1099 form. Cost data and acquisition dates provided by you are not verified by our firm. Our firm does not render legal, accounting or tax advice. Please consult your legal tax advisors before taking any action that may have tax consequences.

Effective tax rates may have been adjusted by your Financial Advisor. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 36 of 39 Portfolio Reports City of Malibu
Strategic Allocations (Standard)
Additional firm-sponsored strategic allocation models may be selected for your Investment Plan that may include updated asset allocation assumptions or may vary slightly from these standard strategic allocation models. Please refer to your Current vs. Strategic Allocation page for an illustration of the allocation mix for these models.

Name Conservative
Income
Conservative
Growth &
Income
Conservative
Growth
Moderate
Income
Moderate
Growth &
Income
Moderate
Growth
Aggressive
Income
Aggressive
Growth &
Income
Aggressive
Growth
U.S. Large Cap
Equities

12.00% 20.00% 30.00% 16.00% 24.00% 31.00% 19.00% 28.00% 28.00% U.S. Mid Cap
Equities

4.00% 8.00% 13.00% 5.00% 10.00% 14.00% 7.00% 12.00% 16.00% U.S. Small Cap
Equities

0.00% 5.00% 8.00% 4.00% 6.00% 10.00% 4.00% 6.00% 13.00% Developed Market
Ex-U.S. Equities

2.00% 7.00% 11.00% 4.00% 8.00% 12.00% 7.00% 9.00% 16.00% Emerging Market
Equities

0.00% 4.00% 9.00% 0.00% 5.00% 12.00% 0.00% 6.00% 15.00% U.S. Short Term
Taxable Fixed
Income

14.00% 8.00% 3.00% 11.00% 6.00% 2.00% 9.00% 4.00% 0.00% U.S. Intermediate
Taxable Fixed
Income

44.00% 23.00% 10.00% 35.00% 18.00% 4.00% 27.00% 12.00% 3.00% U.S. Long Term
Taxable Fixed
Income

14.00% 8.00% 3.00% 12.00% 6.00% 2.00% 9.00% 4.00% 0.00% Emerging Market
Fixed Income

3.00% 5.00% 3.00% 5.00% 5.00% 3.00% 8.00% 6.00% 2.00%
High Yield Taxable
Fixed Income

3.00% 6.00% 3.00% 4.00% 6.00% 3.00% 6.00% 7.00% 0.00%
Commodities 2.00% 4.00% 5.00% 2.00% 4.00% 5.00% 2.00% 4.00% 5.00% Cash Alternatives 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 2.00% 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 37 of 39 Portfolio Reports City of Malibu
Strategic Capital Market Assumptions
Capital Market Assumptions (CMAs) for all asset classes assume a broadly diversified portfolio generally representative of the risks and opportunities of the asset class. To the extent that the investor's portfolio is not as diversified as the assumptions made for the asset class, the return and risk potential for the portfolio may vary significantly from the assumed CMAs.

The Strategic CMAs used within this illustration are forward looking and based on a building-block approach of risk premiums and Sharpe Ratio Equivalency.

The returns for each asset class reflect the premium above the short-term risk-free rate of return that investors are likely to demand in order to compensate for the risk of holding those assets. Sharpe ratio equivalency provides a consistent comparison of long term risk premium across various asset classes for 10 years (representative of a one to two business cycle time period). All portfolio return and downside risk calculations are based on the Strategic CMAs. These assumptions may differ greatly from the short-term performance and volatility experienced by your actual investment holdings. There are no assurances that the estimates will be achieved. They have been provided as a guide to help you with your investment planning.

Asset Class Downside Risk Average Annual Return1
U.S. Large Cap Equities -15.88% 7.13%
U.S. Mid Cap Equities -16.44% 7.81%
U.S. Small Cap Equities3 -20.04% 7.72%
Developed Market Ex-U.S. Equities4 -17.84% 6.36%
Emerging Market Equities4 -22.48% 7.48%
Specialty Equities -24.36% 5.50%
U.S. Short Term Taxable Fixed Income 0.04% 2.48%
U.S. Intermediate Taxable Fixed Income -2.42% 3.56%
U.S. Long Term Taxable Fixed Income -10.57% 3.85%
Short Term Tax Exempt Fixed Income -0.74% 2.10%
Intermediate Tax Exempt Fixed Income -4.12% 2.63%
Long Term Tax Exempt Fixed Income -5.33% 3.31%
Developed Market Ex-U.S. Fixed Income4 -10.30% 2.35%
Emerging Market Fixed Income4 -9.54% 6.29%
High Yield Taxable Fixed Income2 -9.31% 5.83%
High Yield Tax Exempt Fixed Income2 -8.27% 4.40%
Specialty Fixed Income -16.35% 1.42%
Public Real Estate -17.91% 6.90%
Private Real Estate -14.10% 7.68%
Commodities -16.27% 6.72%
Specialty Real Assets -21.24% 3.44%
Multi-Class -8.19% 6.01%
Global Hedge Funds -4.59% 5.33%
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Asset Class Downside Risk Average Annual Return1
Private Equity -16.62% 11.30%
Private Debt -10.75% 8.47%
Specialty Alternative Investments -24.33% 3.21%
Cash Alternatives 0.23% 1.87%
Other -22.82% 0.56%
Additional Disclosures
1 The Average Annual Return is time-weighted. It is a measure of the compound rate of growth of the asset class. 2 Various rating services, such as Standard and Poor's and Moody's Investor Service rate the creditworthiness of bonds. Investing in lower-rated debt securities or funds that invest in such securities involves additional risk because of the lower credit quality of the security or fund portfolio. These securities or funds are subject to a higher level of volatility and increased risk of default, or loss of principal. 3 Investing in small companies or mutual funds that invest in small companies involves additional risk. Smaller companies typically have a higher risk of failure and are not as well established as larger blue chip companies. Historically, smaller-company stocks have experienced a greater degree of price volatility than the overall market average. 4 International investing may involve special risks such as currency fluctuation, political instability, and different methods of accounting and reporting requirements. * Hedge Fund Research, Inc. ©2023, www.hedgefundresearch.com Alternative investments carry specific investor qualifications which can include high income and net-worth requirements as well as relatively high investment minimums. They are complex investment vehicles which generally have high costs and substantial risks. They tend to be more volatile than other types of investments and present an increased risk of investment loss. There may also be a lack of transparency as to the underlying assets. Alternative investments are subject to fewer regulatory requirements than mutual funds and other registered investment company products and thus may offer investors fewer legal protections than they would have with more traditional investments. Additionally, there may be no secondary market for alternative investment interests and transferability may be limited or even prohibited. 07/01/2023 © 2023 Wells Fargo Advisors. All Rights Reserved. Page 39 of 39